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Securitizations and Variable Interests Entities (Tables)
 12 Months Ended
Dec. 31, 2021
Transfers and Servicing [Abstract]  
Summary of Cash Flows Received from and Paid to Securitization Trusts Related to Transfers Accounted for as Sales Outstanding
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:
Years Ended December 31,
202120202019
Proceeds received from securitizations$19,293,156 $7,533,284 $1,248,837 
Servicing fees collected (1)63,737 47,230 50,326 
Purchases of previously transferred assets, net of claims reimbursed(17,435)(6,933)(4,602)
$19,339,458 $7,573,581 $1,294,561 
(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 consolidated statements of operations.
Schedule of Carrying Amounts of Assets that Relate to Continuing Involvement with Transferred Forward Loans
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:
December 31,
20212020
Carrying value of assets
MSRs, at fair value$360,830 $137,029 
Advances151,166 143,361 
UPB of loans transferred (1)31,864,769 18,062,856 
Maximum exposure to loss$32,376,765 $18,343,246 
(1)Includes $5.6 billion and $4.1 billion of loans delivered to Ginnie Mae as of December 31, 2021 and 2020, respectively, and includes loan modifications delivered through the Ginnie Mae Early Buyout Program (EBO).
Schedule of Carrying Value and Classification of Assets and Liabilities of Loans Held for Sale Financing Facility
The table below presents the carrying value and classification of the assets and liabilities of the loans held for sale financing facility:
December 31, 2021
Mortgage loans (Loans held for sale, at fair value)$462,144 
Outstanding borrowings (Mortgage loan warehouse facilities)459,344 
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:
December 31,
20212020
Match funded advances (Advances, net)$587,059 $651,576 
Debt service accounts (Restricted cash)7,687 14,195 
Unamortized deferred lender fees (Other assets)1,305 4,253 
Prepaid interest (Other assets)225 291 
Advance match funded liabilities512,297 581,288 
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:
December 31,
20212020
MSRs pledged (MSRs, at fair value)$630,605 $476,371 
Unamortized deferred lender fees (Other assets)1,495 1,183 
Debt service account (Restricted cash)104 211 
Outstanding borrowings (MSR financing facilities, net) 317,523 210,755 
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:
December 31,
20212020
MSRs pledged (MSRs, at fair value)$99,833 $129,204 
Debt service account (Restricted cash)1,968 2,385 
Outstanding borrowings (MSR financing facilities, net) 41,663 68,313 
Unamortized debt issuance costs (MSR financing facilities, net) 413 894