Commitments (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Mortgage Servicing Rights Assets and Liabilities

The table below presents the carrying value and classification of the assets and liabilities of the PLS Notes facility:



	June 30, 2020			December 31, 2019
MSRs pledged (MSRs, at fair value)	$	135,672		$	146,215
Debt service account (Restricted cash)	2,529			3,002
Outstanding borrowings (Other secured borrowings, net)	80,138			94,395
Unamortized debt issuance costs (Other secured borrowings, net)	(1,080		)	(1,208		)

The table below presents the carrying value and classification of the assets and liabilities of the Agency MSR financing facility:



	June 30, 2020		December 31, 2019
MSRs pledged (MSRs, at fair value)	$	192,904	$	245,533
Unamortized debt issuance costs (Other assets)	2,270		946
Debt service account (Restricted cash)	101		100
Outstanding borrowings (Other secured borrowings, net)	105,070		147,706

As of June 30, 2020, the UPB of loans serviced on behalf of NRZ comprised the following:



Ocwen servicer of record (MSR title retained by Ocwen) - Ocwen MSR (1)	$	17,424,584
NRZ servicer of record (MSR title transferred to NRZ) - Ocwen MSR (1)	91,419,371
Ocwen subservicer	176,805
Total NRZ UPB at June 30, 2020	$	109,020,760

Schedule of Effect of Pandemic

The below table shows the requests for forbearance plans and the estimated obligation to advance monthly P&I:



	As of June 30, 2020			As of March 31, 2020
	Number of Forbearance Plans (3)	Estimated Monthly P&I Advance Obligation ($ million)		Number of Forbearance Plans (3)	Estimated Monthly P&I Advance Obligation ($ million)
GSE loans	6,600	$	8.3	1,400	$	1.8
Ginnie Mae loans	9,900	9.2		400	0.5
PLS loans	18,000	26.5		3,700	5.8
Servicer	34,500	$	44.0	5,500	$	8.1

GSE loans	10,100	$	11.0	2,300	$	2.6
PLS loans	73,800	70.8		14,500	14.0
NRZ’s responsibility (1)	83,900	$	81.8	16,800	$	16.6
Subservicer (2)	7,600	$	10.1	3,900	$	4.5
No advance requirements	5,400	—		1,300	—
Total	131,400	$	135.9	27,500	$	29.2


(1)	Ocwen is obligated to advance under the terms of the 2017 Agreements and New RMSR Agreements, and NRZ is obligated to reimburse Ocwen daily for PLS and weekly for Freddie Mac and Fannie Mae servicing advances. See above, Note 8 — Rights to MSRs and Note 11 – Borrowings for additional information, and below description of NRZ Relationship.


(2)	Ocwen is obligated to advance under the terms of subservicing agreements, and subservicing clients (servicers) are generally obligated to reimburse Ocwen within one day to 30 days for P&I advances.

(3)

Numbers have been rounded.

Schedule of Activity Related to HMBS Repurchases

Activity with regard to HMBS repurchases, including MCA repurchases, follows:



	Six Months Ended June 30, 2020
	Active					Inactive					Total
	Number		Amount			Number		Amount			Number		Amount
Beginning balance	62		$	10,546		258		$	25,147		320		$	35,693
Additions (1)	111		27,464			157		18,780			268		46,244
Recoveries, net (2)	(5	)	(6,872		)	(16	)	(5,588		)	(21	)	(12,460		)
Transfers	(2	)	(958		)	2		958			—		—
Changes in value	—		43			—		(1,842		)	—		(1,799		)
Ending balance	166		$	30,223		401		$	37,455		567		$	67,678


(1)	Total repurchases during the six months ended June 30, 2020 includes 207 loans totaling $42.3 million related to MCA repurchases.

(2)

Includes amounts received upon assignment of loan to HUD, loan payoff, REO liquidation and claim proceeds less any amounts charged off as unrecoverable.