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Mortgage Servicing (Tables) | 3 Months Ended
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Mar. 31, 2021
Transfers and Servicing [Abstract] |
Schedule of Activity Related to MSRs - Fair Value Measurement Method |
MSRs – Fair Value Measurement Method | Three Months Ended March 31,
2021 |  | 2020
| Agency |  | Non-Agency |  | Total |  | Agency |  | Non-Agency |  | Total
Beginning balance | $ | 578,957 |  |  | $ | 715,860 |  |  | $ | 1,294,817 |  |  | $ | 714,006 |  |  | $ | 772,389 |  |  | $ | 1,486,395 |
Sales and other transfers | — |  |  | — |  |  | — |  |  | — |  |  | (56) |  |  | (56) |
Additions: |  |  |  |  |  |  |  |  |  |  |
Recognized on the sale of residential mortgage loans | 34,260 |  |  | — |  |  | 34,260 |  |  | 5,930 |  |  | — |  |  | 5,930 |
Purchase of MSRs | 36,778 |  |  | — |  |  | 36,778 |  |  | 31,490 |  |  | — |  |  | 31,490 |
Servicing transfers and adjustments (1) | 29 |  |  | (557) |  |  | (528) |  |  | (263,630) |  |  | (893) |  |  | (264,523) |
Changes in fair value: |  |  |  |  |  |  |  |  |  |  |
Changes in valuation inputs or assumptions (2) | 82,486 |  |  | 1,529 |  |  | 84,015 |  |  | (166,532) |  |  | 5,871 |  |  | (160,661) |
Realization of expected cash flows (2) | (23,847) |  |  | (25,278) |  |  | (49,125) |  |  | (27,037) |  |  | (21,310) |  |  | (48,347) |
Ending balance | $ | 708,663 |  |  | $ | 691,554 |  |  | $ | 1,400,217 |  |  | $ | 294,227 |  |  | $ | 756,001 |  |  | $ | 1,050,228 |
(1)Servicing transfers and adjustments include a $263.7 million derecognition of MSRs effective with the February 20, 2020 notice of termination of the subservicing agreement between NRZ and PMC. See Note 8 — Rights to MSRs for further information. (2)Effective January 1, 2021, changes in fair value due to actual vs. model variances are presented as Changes in valuation inputs or assumptions. Activity for the three months ended March 31,2020 in the table above has been recast to conform to current year disclosure, resulting in a $4.5 million loss reclassified from Realization of expected cash flows to Changes in valuation inputs or assumptions.
Schedule of Composition of Servicing UPB |
| March 31, 2021 |  | December 31, 2020 |  | March 31, 2020
Owned MSRs | 91,284,985 |  |  | $ | 90,174,495 |  |  | $ | 70,741,200 |
NRZ pledged MSRs (1) | 61,841,181 |  |  | 64,061,198 |  |  | 70,914,910 |
Total MSR UPB | $ | 153,126,166 |  |  | $ | 154,235,693 |  |  | $ | 141,656,110 |
(1)MSRs subject to sale agreements with NRZ that do not meet sale accounting criteria. See Note 8 — Rights to MSRs.
Schedule of Components of Servicing and Subservicing Fees |
Servicing Revenue | Three Months Ended March 31, |  |
2021 |  | 2020 |  |  |  |
Loan servicing and subservicing fees |  |  |  |  |  |  |
Servicing | $ | 63,892 |  |  | $ | 55,408 |  |  |  |  |
Subservicing | 3,487 |  |  | 5,190 |  |  |  |  |
NRZ | 80,385 |  |  | 119,669 |  |  |  |  |
| 147,764 |  |  | 180,267 |  |  |  |  |
Ancillary income |  |  |  |  |  |  |
Late charges | 9,231 |  |  | 14,639 |  |  |  |  |
Custodial accounts (float earnings) | 1,008 |  |  | 6,141 |  |  |  |  |
Loan collection fees | 2,949 |  |  | 4,256 |  |  |  |  |
Recording fees | 3,651 |  |  | 2,558 |  |  |  |  |
Other, net | 7,135 |  |  | 3,622 |  |  |  |  |
| 23,974 |  |  | 31,216 |  |  |  |  |
| $ | 171,738 |  |  | $ | 211,483 |  |  |  |  |

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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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