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Mortgage Servicing (Tables) | 9 Months Ended
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Sep. 30, 2020
Transfers and Servicing [Abstract] |
Schedule of Activity Related to MSRs - Fair Value Measurement Method |
MSRs – Fair Value Measurement Method | Three Months Ended September 30,
2020 |  | 2019
| Agency |  | Non-Agency |  | Total |  | Agency |  | Non-Agency |  | Total
Beginning balance | $ | 305,085 |  |  | $ | 739,829 |  |  | $ | 1,044,914 |  |  | $ | 745,735 |  |  | $ | 566,898 |  |  | $ | 1,312,633 |
Sales and other transfers | — |  |  | (1) |  |  | (1) |  |  | — |  |  | (15) |  |  | (15) |
Additions: |  |  |  |  |  |  |  |  |  |  |
Recognized on the sale of residential mortgage loans | 22,096 |  |  | — |  |  | 22,096 |  |  | 1,235 |  |  | — |  |  | 1,235 |
Purchase of MSRs | 32,249 |  |  | — |  |  | 32,249 |  |  | 9,298 |  |  | 1,268 |  |  | 10,566 |
Servicing transfers and adjustments | 16 |  |  | — |  |  | 16 |  |  | — |  |  | (3,105) |  |  | (3,105) |
Changes in fair value (2): |  |  |  |  |  |  |  |  |  |  |
Changes in valuation inputs or other assumptions | 4,074 |  |  | 13,749 |  |  | 17,823 |  |  | (63,360) |  |  | 252,293 |  |  | 188,933 |
Realization of expected future cash flows and other changes | (23,856) |  |  | (24,228) |  |  | (48,084) |  |  | (36,898) |  |  | (17,796) |  |  | (54,694) |
Ending balance | $ | 339,664 |  |  | $ | 729,349 |  |  | $ | 1,069,013 |  |  | $ | 656,010 |  |  | $ | 799,543 |  |  | $ | 1,455,553 |
MSRs – Fair Value Measurement Method | For the Nine Months Ended September 30,
2020 |  | 2019
| Agency |  | Non-Agency |  | Total |  | Agency |  | Non-Agency |  | Total
Beginning balance | $ | 714,006 |  |  | $ | 772,389 |  |  | $ | 1,486,395 |  |  | $ | 865,587 |  |  | $ | 591,562 |  |  | $ | 1,457,149 |
Sales and other transfers | — |  |  | (108) |  |  | (108) |  |  | (29) |  |  | (556) |  |  | (585) |
Additions: |  |  |  |  |  |  |  |  |  |  |
Recognized on the sale of residential mortgage loans | 37,785 |  |  | — |  |  | 37,785 |  |  | 3,933 |  |  | — |  |  | 3,933 |
Purchase of MSRs | 78,994 |  |  | — |  |  | 78,994 |  |  | 123,600 |  |  | 1,355 |  |  | 124,955 |
Servicing transfers and adjustments (1) | (263,830) |  |  | 403 |  |  | (263,427) |  |  | — |  |  | (7,872) |  |  | (7,872) |
Changes in fair value (2): |  |  |  |  |  |  |  |  |  |  |
Changes in valuation inputs or other assumptions | (159,351) |  |  | 20,679 |  |  | (138,672) |  |  | (235,036) |  |  | 264,876 |  |  | 29,840 |
Realization of expected future cash flows and other changes | (67,940) |  |  | (64,014) |  |  | (131,954) |  |  | (102,045) |  |  | (49,822) |  |  | (151,867) |
Ending balance | $ | 339,664 |  |  | $ | 729,349 |  |  | $ | 1,069,013 |  |  | $ | 656,010 |  |  | $ | 799,543 |  |  | $ | 1,455,553 |
(1)Servicing transfers and adjustments include a $263.7 million derecognition of MSRs/Rights to MSRs effective with the February 20, 2020 notice of termination of the subservicing agreement between NRZ and PMC. See Note 9 — Rights to MSRs for further information. (2)Changes in fair value are recognized in MSR valuation adjustments, net in the unaudited consolidated statements of operations.
Schedule of Composition of Servicing UPB |
| UPB at
| September 30, 2020 |  | December 31, 2019 |  | September 30, 2019
Owned MSRs | $ | 71,301,427 |  |  | $ | 70,973,496 |  |  | $ | 71,372,447 |
NRZ pledged MSRs (1) | 66,782,351 |  |  | 108,837,877 |  |  | 113,441,618 |
Total recognized MSRs | $ | 138,083,778 |  |  | $ | 179,811,373 |  |  | $ | 184,814,065 |
(1)MSRs subject to sale agreements with NRZ that do not meet sale accounting criteria. See Note 9 — Rights to MSRs.
Schedule of Components of Servicing and Subservicing Fees |
Servicing Revenue | Three Months Ended September 30, |  | Nine Months Ended September 30,
2020 |  | 2019 |  | 2020 |  | 2019
Loan servicing and subservicing fees |  |  |  |  |  |  |
Servicing | $ | 53,410 |  |  | $ | 61,485 |  |  | $ | 161,154 |  |  | $ | 170,054 |
Subservicing | 10,324 |  |  | 1,365 |  |  | 26,143 |  |  | 11,775 |
NRZ | 91,015 |  |  | 146,567 |  |  | 299,089 |  |  | 443,505 |
| 154,749 |  |  | 209,417 |  |  | 486,386 |  |  | 625,334 |
Ancillary income |  |  |  |  |  |  |
Late charges | 11,012 |  |  | 14,105 |  |  | 38,323 |  |  | 42,786 |
Custodial accounts (float earnings) | 1,057 |  |  | 13,464 |  |  | 8,787 |  |  | 38,739 |
Loan collection fees | 3,047 |  |  | 3,862 |  |  | 10,048 |  |  | 11,613 |
Home Affordable Modification Program (HAMP) fees (1) | 104 |  |  | 1,216 |  |  | 532 |  |  | 4,558 |
Other, net | 11,753 |  |  | 6,453 |  |  | 24,369 |  |  | 22,063 |
| 26,973 |  |  | 39,100 |  |  | 82,059 |  |  | 119,759 |
| $ | 181,722 |  |  | $ | 248,517 |  |  | $ | 568,445 |  |  | $ | 745,093 |
(1)The HAMP expired on December 31, 2016. Borrowers who had requested assistance or to whom an offer of assistance had been extended as of that date had until September 30, 2017 to finalize their modification. We continue to earn HAMP success fees for HAMP modifications that remain less than 90 days delinquent at the first-, second- and third-year anniversary of the start of the trial modification.

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- Definition Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=116651436&loc=d3e122625-111746 + Details
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