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v3.22.1

Mortgage Servicing (Tables) | 3 Months Ended
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Mar. 31, 2022
Transfers and Servicing [Abstract] |
Schedule of Activity Related to MSRs - Fair Value Measurement Method |
MSRs – At Fair Value | Three Months Ended March 31,
2022 |  | 2021
| Agency |  | Non-Agency |  | Total |  | Agency |  | Non-Agency |  | Total
Beginning balance | $ | 1,571,837 |  |  | $ | 678,310 |  |  | $ | 2,250,147 |  |  | $ | 578,957 |  |  | $ | 715,860 |  |  | $ | 1,294,817 |
Sales and other transfers | (149,311) |  |  | (24) |  |  | (149,335) |  |  | — |  |  | — |  |  | — |
Additions: |  |  |  |  |  |  |  |  |  |  |
Recognized on the sale of residential mortgage loans | 45,803 |  |  | — |  |  | 45,803 |  |  | 34,260 |  |  | — |  |  | 34,260 |
Purchase of MSRs | 46,799 |  |  | — |  |  | 46,799 |  |  | 36,778 |  |  | — |  |  | 36,778 |
Servicing transfers and adjustments | — |  |  | (823) |  |  | (823) |  |  | 29 |  |  | (557) |  |  | (528) |
Changes in fair value: |  |  |  |  |  |  |  |  |  |  |
Changes in valuation inputs or assumptions | 194,476 |  |  | 9,044 |  |  | 203,520 |  |  | 82,486 |  |  | 1,529 |  |  | 84,015 |
Realization of expected cash flows | (47,674) |  |  | (25,156) |  |  | (72,830) |  |  | (23,847) |  |  | (25,278) |  |  | (49,125) |
Ending balance | $ | 1,661,930 |  |  | $ | 661,351 |  |  | $ | 2,323,281 |  |  | $ | 708,663 |  |  | $ | 691,554 |  |  | $ | 1,400,217 |
Schedule of Composition of Servicing UPB |
| March 31, 2022 |  | December 31, 2021 |  | March 31, 2021
| Fair Value | UPB |  | Fair Value | UPB |  | Fair Value | UPB
Owned MSRs | $ | 1,435,180 |  | $ | 115,724,529 |  |  | $ | 1,422,546 |  | $ | 127,919,800 |  |  | $ | 849,853 |  | $ | 91,284,985 |
NRZ transferred MSRs (1) (2) | 545,316 |  | 51,533,000 |  |  | 558,940 |  | 53,652,843 |  |  | 550,364 |  | 61,841,181 |
MAV transferred MSRs (1) | 342,785 |  | 26,759,000 |  |  | 268,661 |  | 24,018,904 |  |  | — |  | — |
Total | $ | 2,323,281 |  | $ | 194,016,529 |  |  | $ | 2,250,147 |  | $ | 205,591,547 |  |  | $ | 1,400,217 |  | $ | 153,126,166 |
(1)MSRs subject to sale agreements with NRZ and MAV that do not meet sale accounting criteria. During the three months ended March 31, 2022 , we transferred MSRs with a UPB of $3.5 billion to MAV. See Note 8 — MSR Transfers Not Qualifying for Sale Accounting. (2)At March 31, 2022, the UPB of MSRs transferred to NRZ for which title is retained by Ocwen was $11.7 billion and the UPB of MSRs transferred to NRZ for which title has passed was $39.8 billion.
Schedule of Components of Servicing and Subservicing Fees |
Servicing Revenue | Three Months Ended March 31, |  |
2022 |  | 2021 |  |  |  |
Loan servicing and subservicing fees |  |  |  |  |  |  |
Servicing | $ | 88,535 |  |  | $ | 63,892 |  |  |  |  |
Subservicing | 14,678 |  |  | 3,487 |  |  |  |  |
MAV (1) | 16,623 |  |  | — |  |  |  |  |
NRZ (1) | 67,146 |  |  | 80,385 |  |  |  |  |
| 186,983 |  |  | 147,764 |  |  |  |  |
Ancillary income |  |  |  |  |  |  |
Late charges | 10,020 |  |  | 9,231 |  |  |  |  |
Reverse subservicing ancillary fees | 3,086 |  |  | — |  |  |  |  |
Recording fees | 3,250 |  |  | 3,945 |  |  |  |  |
Loan collection fees | 2,949 |  |  | 2,949 |  |  |  |  |
Boarding and deboarding fees | 1,761 |  |  | 3,019 |  |  |  |  |
Custodial accounts (float earnings) | 983 |  |  | 1,008 |  |  |  |  |
GSE forbearance fees | 184 |  |  | 566 |  |  |  |  |
Other, net | 3,408 |  |  | 3,256 |  |  |  |  |
| 25,640 |  |  | 23,974 |  |  |  |  |
| $ | 212,623 |  |  | $ | 171,738 |  |  |  |  |
(1)Includes servicing and subservicing fees related to transferred MSRs. See Note 8 — MSR Transfers Not Qualifying for Sale Accounting.

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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=125521744&loc=d3e122625-111746 + Details
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