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Mortgage Servicing (Tables) | 12 Months Ended
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Dec. 31, 2020
Transfers and Servicing [Abstract] |
Summary of Activity Related to Fair Value Servicing Assets |
Mortgage Servicing Rights – Fair Value Measurement Method | Years Ended December 31,
2020 |  | 2019 |  | 2018
| Agency |  | Non-Agency |  | Total |  | Agency |  | Non-Agency |  | Total |  | Agency |  | Non-Agency |  | Total
Beginning balance | $ | 714,006 |  |  | $ | 772,389 |  |  | $ | 1,486,395 |  |  | $ | 865,587 |  |  | $ | 591,562 |  |  | $ | 1,457,149 |  |  | $ | 11,960 |  |  | $ | 660,002 |  |  | $ | 671,962 |
Fair value election - Transfer from MSRs carried at amortized cost | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 336,882 |  |  | — |  |  | 336,882 |
Cumulative effect of fair value election | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 82,043 |  |  | — |  |  | 82,043 |
Sales | — |  |  | (143) |  |  | (143) |  |  | (3,578) |  |  | (766) |  |  | (4,344) |  |  | (4,748) |  |  | (1,492) |  |  | (6,240) |
Additions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recognized on the sale of residential mortgage loans | 68,734 |  |  | — |  |  | 68,734 |  |  | 8,795 |  |  | — |  |  | 8,795 |  |  | 8,279 |  |  | — |  |  | 8,279 |
Recognized in connection with the acquisition of PHH | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 494,348 |  |  | 23,779 |  |  | 518,127 |
Purchase of MSRs | 285,134 |  |  | — |  |  | 285,134 |  |  | 153,505 |  |  | — |  |  | 153,505 |  |  | 5,433 |  |  | — |  |  | 5,433 |
Servicing transfers and adjustments (1) | (266,248) |  |  | 403 |  |  | (265,845) |  |  | — |  |  | (7,309) |  |  | (7,309) |  |  | (1,047) |  |  | (4,833) |  |  | (5,880) |
Changes in fair value (2): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in valuation inputs or assumptions | (133,072) |  |  | 26,870 |  |  | (106,202) |  |  | (171,050) |  |  | 265,003 |  |  | 93,953 |  |  | 11,558 |  |  | (5,705) |  |  | 5,853 |
Realization of expected future cash flows and other changes | (89,597) |  |  | (83,659) |  |  | (173,256) |  |  | (139,253) |  |  | (76,101) |  |  | (215,354) |  |  | (79,121) |  |  | (80,189) |  |  | (159,310) |
Ending balance | $ | 578,957 |  |  | $ | 715,860 |  |  | $ | 1,294,817 |  |  | $ | 714,006 |  |  | $ | 772,389 |  |  | $ | 1,486,395 |  |  | $ | 865,587 |  |  | $ | 591,562 |  |  | $ | 1,457,149 |
(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 PMC subservicing agreement by NRZ. See Note 10 — Rights to MSRs for further information. (2)Changes in fair value are recognized in MSR valuation adjustments, net in the consolidated statements of operations.
Schedule of Composition of Primary Servicing and Subservicing Portfolios by Type of Property Serviced as Measured by UPB |
| UPB at December 31,
| 2020 |  | 2019 |  | 2018
Owned MSRs | $ | 90,174,495 |  |  | $ | 70,973,496 |  |  | $ | 68,236,270 |
NRZ pledged MSRs (1) | 64,061,198 |  |  | 108,837,877 |  |  | 126,643,940 |
Total MSR UPB | $ | 154,235,693 |  |  | $ | 179,811,373 |  |  | $ | 194,880,210 |
(1)MSRs subject to sale agreements with NRZ that do not meet sale accounting criteria. See Note 10 — Rights to MSRs.
Summary of Geographic Distributions of UPB and Count of Residential Loans and Real Estate Serviced | The geographic concentration of the UPB of residential loans and real estate we serviced at December 31, 2020 was as follows:
| Amount |  | Count
California | $ | 38,640,172 |  |  | 144,717 |
New York | 13,474,135 |  |  | 56,917 |
Florida | 11,443,408 |  |  | 86,518 |
New Jersey | 8,564,107 |  |  | 39,287 |
Texas | 7,476,092 |  |  | 73,382 |
Other | 74,637,779 |  |  | 556,596 |
| $ | 154,235,693 |  |  | 957,417 |
Schedule of Components of Servicing and Subservicing Fees |
| Years Ended December 31,
Servicing Revenue | 2020 |  | 2019 |  | 2018
Loan servicing and subservicing fees |  |  |  |  |
Servicing | $ | 216,263 |  |  | $ | 227,490 |  |  | $ | 227,639 |
Subservicing | 28,886 |  |  | 15,459 |  |  | 8,904 |
NRZ | 383,685 |  |  | 577,015 |  |  | 539,039 |
Total loan servicing and subservicing fees | 628,834 |  |  | 819,964 |  |  | 775,582 |
Ancillary income |  |  |  |  |
Late charges | 47,687 |  |  | 57,194 |  |  | 61,453 |
Home Affordable Modification Program (HAMP) fees (1) | 565 |  |  | 5,538 |  |  | 14,312 |
Custodial accounts (float earnings) | 9,939 |  |  | 47,562 |  |  | 40,115 |
Loan collection fees | 12,919 |  |  | 15,539 |  |  | 18,392 |
Other | 37,376 |  |  | 29,710 |  |  | 27,229 |
Total ancillary income | 108,486 |  |  | 155,543 |  |  | 161,501 |
| $ | 737,320 |  |  | $ | 975,507 |  |  | $ | 937,083 |
(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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