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Securitizations and Variable Interest Entities (Tables)
 9 Months Ended
Sep. 30, 2020
Servicing Assets at Fair Value [Line Items]  
Schedule of Cash Flows Related to Transfers Accounted for as Sales
The following table presents a summary of cash flows received from and paid to securitization trusts related to transfers of loans accounted for as sales that were outstanding:
 Three Months Ended September 30,Nine Months Ended September 30,
2020201920202019
Proceeds received from securitizations$2,364,829 $235,175 $4,256,082 $674,108 
Servicing fees collected (1)12,561 8,866 35,204 37,610 
Purchases of previously transferred assets, net of claims reimbursed
(2,061)(2,093)(6,338)(3,140)
$2,375,329 $241,948 $4,284,948 $708,578 
(1)We receive servicing fees based upon the securitized loan balances and certain ancillary fees, all of which are reported in Servicing and subservicing fees in the unaudited consolidated statements of operations.
Schedule of Assets That Relate to Continuing Involvement with Transferred Financial Assets with Servicing Rights and Maximum Exposure to Loss Including the Unpaid Principal Balance
The following table presents the carrying amounts of our assets that relate to our continuing involvement with forward loans that we have transferred with servicing rights retained as well as an estimate of our maximum exposure to loss including the UPB of the transferred loans:
September 30, 2020December 31, 2019
Carrying value of assets
MSRs, at fair value$101,506 $109,581 
Advances182,450 141,829 
UPB of loans transferred 17,126,989 14,490,984 
Maximum exposure to loss$17,410,945 $14,742,394 
Carrying Value And Classification Of Assets And Liabilities Of Agency MSR Financing Facility
The table below presents the carrying value and classification of the assets and liabilities of the Agency MSR financing facility:
September 30, 2020December 31, 2019
MSRs pledged (MSRs, at fair value)$234,106 $245,533 
Unamortized debt issuance costs (Other assets)1,775 946 
Debt service account (Restricted cash)102 100 
Outstanding borrowings (Other secured borrowings, net) 113,929 147,706 
Carrying Value And Classification Of Assets And Liabilities Of PLS Notes Facility
The table below presents the carrying value and classification of the assets and liabilities of the PLS Notes facility:
September 30, 2020December 31, 2019
MSRs pledged (MSRs, at fair value)$133,169 $146,215 
Debt service account (Restricted cash)2,549 3,002 
Outstanding borrowings (Other secured borrowings, net) 74,021 94,395 
Unamortized debt issuance costs (Other secured borrowings, net) (964)(1,208)
Schedule of Carrying Value of Assets and Liabilities of Consolidated Mortgage-backed Securitization Trusts The table below presents the carrying value and classification of the assets and liabilities of consolidated mortgage-backed securitization trusts included in our unaudited consolidated balance sheets as a result of residual securities we acquired which were issued by the trusts.
September 30, 2020December 31, 2019
Loans held for investment, at fair value - Restricted for securitization investors$11,012 $23,342 
Financing liability - Owed to securitization investors, at fair value11,012 22,002