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Securitizations and Variable Interest Entities (Tables)
 3 Months Ended
Mar. 31, 2021
Transfers and Servicing [Abstract]  
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 March 31,
20212020
Proceeds received from securitizations$3,248,918 $820,001 
Servicing fees collected (1)13,178 12,252 
Purchases of previously transferred assets, net of claims reimbursed
(3,239)(2,607)
$3,258,857 $829,646 
(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:
March 31, 2021December 31, 2020
Carrying value of assets
MSRs, at fair value$194,600 $137,029 
Advances140,720 143,361 
UPB of loans transferred (1)20,175,148 18,062,856 
Maximum exposure to loss$20,510,468 $18,343,246 
(1)Includes $4.0 billion and $4.1 billion of loans delivered to Ginnie Mae as of March 31, 2021 and December 31, 2020, respectively, and includes loan modifications delivered through the Ginnie Mae Early Buyout Program (EBO).
Carrying Value And Classification Of Assets And Liabilities Of Advance Financing Facilities
The table below presents the carrying value and classification of the assets and liabilities of the advance financing facilities:
March 31, 2021December 31, 2020
Match funded advances (Advances, net)$623,570 $651,576 
Debt service accounts (Restricted cash)7,186 14,195 
Unamortized deferred lender fees (Other assets)2,957 4,253 
Prepaid interest (Other assets)263 291 
Advance match funded liabilities550,437 581,288 
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:
March 31, 2021December 31, 2020
MSRs pledged (MSRs, at fair value)$584,872 $476,371 
Unamortized deferred lender fees (Other assets)606 1,183 
Debt service account (Restricted cash)213 211 
Outstanding borrowings (Other secured borrowings, net) 250,000 210,755 
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:
March 31, 2021December 31, 2020
MSRs pledged (MSRs, at fair value)$123,422 $129,204 
Debt service account (Restricted cash)2,410 2,385 
Outstanding borrowings (Other secured borrowings, net) 62,297 68,313 
Unamortized debt issuance costs (Other secured borrowings, net) 764 894