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Mortgage Servicing (Tables) | 6 Months Ended
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Jun. 30, 2022
Transfers and Servicing [Abstract] |
Schedule of Activity Related to MSRs - Fair Value Measurement Method |
MSRs – At Fair Value | Three Months Ended June 30,
2022 |  | 2021
| Agency |  | Non-Agency |  | Total |  | Agency |  | Non-Agency |  | Total
Beginning balance | $ | 1,664,855 |  |  | $ | 658,426 |  |  | $ | 2,323,281 |  |  | $ | 708,663 |  |  | $ | 691,554 |  |  | $ | 1,400,217 |
Sales of MSRs | (28) |  |  | — |  |  | (28) |  |  | — |  |  | — |  |  | — |
Additions: |  |  |  |  |  |  |  |  |  |  |
Recognized on the sale of residential mortgage loans | 60,162 |  |  | — |  |  | 60,162 |  |  | 35,802 |  |  | — |  |  | 35,802 |
Purchase of MSRs | 36,863 |  |  | — |  |  | 36,863 |  |  | 733,538 |  |  | — |  |  | 733,538 |
Servicing transfers and adjustments (1) | 11,795 |  |  | 2,926 |  |  | 14,721 |  |  | 27 |  |  | (1,633) |  |  | (1,606) |
Changes in fair value: |  |  |  |  |  |  |  |  |  |  |
Changes in valuation inputs or assumptions | 85,955 |  |  | 32,297 |  |  | 118,252 |  |  | (42,337) |  |  | 3,941 |  |  | (38,396) |
Realization of expected cash flows | (42,998) |  |  | (24,574) |  |  | (67,572) |  |  | (27,273) |  |  | (29,764) |  |  | (57,037) |
Ending balance | $ | 1,816,604 |  |  | $ | 669,075 |  |  | $ | 2,485,679 |  |  | $ | 1,408,420 |  |  | $ | 664,098 |  |  | $ | 2,072,518 |
MSRs – At Fair Value | Six Months Ended June 30,
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 of MSRs | (149,339) |  |  | (24) |  |  | (149,363) |  |  | — |  |  | — |  |  | — |
Additions: |  |  |  |  |  |  |  |  |  |  |
Recognized on the sale of residential mortgage loans | 105,965 |  |  | — |  |  | 105,965 |  |  | 70,062 |  |  | — |  |  | 70,062 |
Purchase of MSRs | 83,662 |  |  | — |  |  | 83,662 |  |  | 770,316 |  |  | — |  |  | 770,316 |
Servicing transfers and adjustments | 14,720 |  |  | (822) |  |  | 13,898 |  |  | 56 |  |  | (2,190) |  |  | (2,134) |
Changes in fair value: |  |  |  |  |  |  |  |  |  |  |
Changes in valuation inputs or assumptions | 280,431 |  |  | 41,341 |  |  | 321,772 |  |  | 40,149 |  |  | 5,470 |  |  | 45,619 |
Realization of expected cash flows | (90,672) |  |  | (49,730) |  |  | (140,402) |  |  | (51,120) |  |  | (55,042) |  |  | (106,162) |
Ending balance | $ | 1,816,604 |  |  | $ | 669,075 |  |  | $ | 2,485,679 |  |  | $ | 1,408,420 |  |  | $ | 664,098 |  |  | $ | 2,072,518 |
Financing Receivable, Past Due | The following table summarizes delinquency status of the loans underlying our MSRs:
| June 30, 2022 |  | December 31, 2021
Delinquent loans | Agency |  | Non - Agency |  | Total |  | Agency |  | Non - Agency |  | Total
30 days | 1.5 | % |  | 7.3 | % |  | 4.2 | % |  | 1.4 | % |  | 7.2 | % |  | 4.1 | %
60 days | 0.4 |  |  | 2.8 |  |  | 1.5 |  |  | 0.4 |  |  | 2.8 |  |  | 1.6 |
90 days or more | 1.2 |  |  | 8.4 |  |  | 4.6 |  |  | 1.9 |  |  | 8.0 |  |  | 4.8 |
Total 30-60-90 days or more | 3.1 | % |  | 18.5 | % |  | 10.3 | % |  | 3.7 | % |  | 18.0 | % |  | 10.5 | %
Schedule of Composition of Servicing UPB |
| June 30, 2022 |  | December 31, 2021 |  | June 30, 2021
| Fair Value | UPB |  | Fair Value | UPB |  | Fair Value | UPB
Owned MSRs | $ | 1,552,622 |  | $ | 116,260,079 |  |  | $ | 1,422,546 |  | $ | 127,919,800 |  |  | $ | 1,536,947 |  | $ | 148,882,743 |
NRZ transferred MSRs (1) (2) | 550,808 |  | 49,730,000 |  |  | 558,940 |  | 53,652,843 |  |  | 535,571 |  | 59,038,668 |
MAV transferred MSRs (1) | 382,249 |  | 28,486,472 |  |  | 268,661 |  | 24,018,904 |  |  | — |  | — |
Total | $ | 2,485,679 |  | $ | 194,476,551 |  |  | $ | 2,250,147 |  | $ | 205,591,547 |  |  | $ | 2,072,518 |  | $ | 207,921,411 |
(1)MSRs subject to sale agreements with NRZ and MAV that do not meet sale accounting criteria. During the six months ended June 30, 2022 , we transferred MSRs with a UPB of $5.9 billion to MAV. See Note 8 — MSR Transfers Not Qualifying for Sale Accounting. (2)At June 30, 2022, the UPB of MSRs transferred to NRZ for which title is retained by Ocwen was $11.3 billion and the UPB of MSRs transferred to NRZ for which title has passed was $38.4 billion.
Schedule of Components of Servicing and Subservicing Fees |
| Three Months Ended June 30, |  | Six Months Ended June 30,
2022 |  | 2021 |  | 2022 |  | 2021
Loan servicing and subservicing fees |  |  |  |  |  |  |
Servicing | $ | 80,889 |  |  | $ | 79,377 |  |  | $ | 169,424 |  |  | $ | 143,269 |
Subservicing | 20,353 |  |  | 2,617 |  |  | 35,032 |  |  | 6,104 |
MAV (1) | 18,837 |  |  | — |  |  | 35,460 |  |  | — |
NRZ (1) | 64,729 |  |  | 77,716 |  |  | 131,875 |  |  | 158,101 |
| 184,809 |  |  | 159,710 |  |  | 371,791 |  |  | 307,474 |
Ancillary income |  |  |  |  |  |  |
Late charges | 11,738 |  |  | 11,447 |  |  | 21,758 |  |  | 20,679 |
Reverse subservicing ancillary fees | 6,257 |  |  | — |  |  | 9,390 |  |  | — |
Recording fees | 2,624 |  |  | 3,202 |  |  | 5,874 |  |  | 6,854 |
Loan collection fees | 2,870 |  |  | 2,761 |  |  | 5,819 |  |  | 5,711 |
Boarding and deboarding fees | 1,863 |  |  | 2,184 |  |  | 3,625 |  |  | 5,203 |
Custodial accounts (float earnings) | 1,804 |  |  | 1,306 |  |  | 2,786 |  |  | 2,313 |
GSE forbearance fees | 181 |  |  | 507 |  |  | 365 |  |  | 1,072 |
Other, net | 2,985 |  |  | 3,325 |  |  | 6,346 |  |  | 6,873 |
| 30,322 |  |  | 24,731 |  |  | 55,963 |  |  | 48,705 |
| $ | 215,131 |  |  | $ | 184,441 |  |  | $ | 427,754 |  |  | $ | 356,179 |
(1)Includes servicing fees related to transferred MSRs and subservicing fees. See Note 8 — MSR Transfers Not Qualifying for Sale Accounting.

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