Commitments (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Mortgage Servicing Rights Assets and Liabilities

As of September 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) (2)	$	15,060,347
NRZ servicer of record (MSR title transferred to NRZ) - Ocwen MSR (1)	51,722,004
NRZ PMC Subservicing Agreement subject to termination (3)	16,007,995
Ocwen subservicer	2,802,967
Total NRZ UPB at September 30, 2020	$	85,593,313

(1)The MSR sale transactions did not achieve sale accounting treatment.

(2)NRZ’s associated outstanding servicing advances were approximately $584.6 million as of September 30, 2020.

(3)On October 1, 2020, these loans were transferred out in connection with the termination of the PMC servicing agreement by NRZ. See Note 9 — Rights to MSRs.

Schedule of Effect of Pandemic

The below table shows the loans under forbearance and the associated P&I advances:


	As of September 30, 2020			As of June 30, 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	5,300	$	6.5	6,600	$	8.3
Ginnie Mae loans	10,100	9.2		9,900	9.2
PLS loans	14,500	21.0		18,000	26.5
Servicer	29,900	$	36.7	34,500	$	44.0

GSE loans	900	$	0.9	10,100	$	11.0
PLS loans	64,100	60.0		73,800	70.8
NRZ’s responsibility (1)	65,000	$	60.9	83,900	$	81.8
Subservicer (2)	8,000	$	9.8	7,600	$	10.1
No advance requirements	3,400	—		5,400	—
Total	106,300	$	107.4	131,400	$	135.9

(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 9 — Rights to MSRs 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:


	Nine Months Ended September 30, 2020
	Active			Inactive			Total
	Number	Amount		Number	Amount		Number	Amount
Beginning balance	62	$	10,546	258	$	25,147	320	$	35,693
Additions (1)	159	40,875		219	32,789		378	73,664
Recoveries, net (2)	(7)	(9,492)		(26)	(8,480)		(33)	(17,972)
Transfers	(10)	(2,933)		10	2,933		—	—
Changes in value	—	43		—	(2,576)		—	(2,533)
Ending balance	204	$	39,039	461	$	49,813	665	$	88,852

(1)Total repurchases during the nine months ended September 30, 2020 includes 308 loans totaling $66.9 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.