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Securitizations and Variable Interest Entities (Tables)
 3 Months Ended
Mar. 31, 2022
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,
20222021
Proceeds received from securitizations$3,588,272 $3,248,918 
Servicing fees collected (1)21,669 13,178 
Purchases of previously transferred assets, net of claims reimbursed
(2,030)(3,239)
$3,607,911 $3,258,857 
(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, 2022December 31, 2021
Carrying value of assets
MSRs, at fair value$449,129 $360,830 
Advances103,416 151,166 
UPB of loans transferred (1)34,717,859 31,864,769 
Maximum exposure to loss$35,270,404 $32,376,765 
(1)Includes $5.5 billion and $5.6 billion of loans delivered to Ginnie Mae as of March 31, 2022 and December 31, 2021, respectively, and includes loan modifications delivered through the Ginnie Mae Early Buyout Program (EBO).
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:
March 31, 2022December 31, 2021
Mortgage loans (Loans held for sale, at fair value)$241,676 $462,144 
Outstanding borrowings (Mortgage loan warehouse facilities) (1)280,271 459,344 
(1) Additional cash collateral was posted at March 31, 2022 (reported within restricted cash) due to timing of loan sales.
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, 2022December 31, 2021
Match funded advances (Advances, net)$578,611 $587,059 
Debt service accounts (Restricted cash)6,574 7,687 
Unamortized deferred lender fees (Other assets)872 1,305 
Prepaid interest (Other assets)194 225 
Advance match funded liabilities497,310 512,297 
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, 2022December 31, 2021
MSRs pledged (MSRs, at fair value)$582,076 $630,605 
Unamortized deferred lender fees (Other assets)748 1,495 
Debt service account (Restricted cash)103 104 
Outstanding borrowings (MSR financing facilities, net) 282,351 317,523 
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, 2022December 31, 2021
MSRs pledged (MSRs, at fair value)$112,992 $99,833 
Debt service account (Restricted cash)2,123 1,968 
Outstanding borrowings (MSR financing facilities, net) 72,838 41,663 
Unamortized debt issuance costs (MSR financing facilities, net) 996 413