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Mortgage Servicing (Tables) | 12 Months Ended
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Dec. 31, 2022
Transfers and Servicing [Abstract] |
Summary of Activity Related to Fair Value Servicing Assets |
Mortgage Servicing Rights – Fair Value Measurement Method | Years Ended December 31,
2022 |  | 2021 |  | 2020
| Agency |  | Non-Agency |  | Total |  | Agency |  | Non-Agency |  | Total |  | Agency |  | Non-Agency |  | Total
Beginning balance | $ | 1,571.8 |  |  | $ | 678.3 |  |  | $ | 2,250.1 |  |  | $ | 578.9 |  |  | $ | 715.9 |  |  | $ | 1,294.8 |  |  | $ | 714.0 |  |  | $ | 772.4 |  |  | $ | 1,486.4 |
Sales | (154.4) |  |  | — |  |  | (154.4) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.1) |  |  | (0.1) |
Additions: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recognized on the sale of residential mortgage loans | 234.7 |  |  | — |  |  | 234.7 |  |  | 222.7 |  |  | — |  |  | 222.7 |  |  | 68.7 |  |  | — |  |  | 68.7 |
Purchase of MSRs | 181.6 |  |  | — |  |  | 181.6 |  |  | 844.1 |  |  | — |  |  | 844.1 |  |  | 285.1 |  |  | — |  |  | 285.1 |
Servicing transfers and adjustments (1) | (24.3) |  |  | (0.9) |  |  | (25.3) |  |  | 0.1 |  |  | (10.9) |  |  | (10.8) |  |  | (266.2) |  |  | 0.4 |  |  | (265.8) |
Net additions (sales) | 237.6 |  |  | (0.9) |  |  | 236.6 |  |  | 1,067.0 |  |  | (10.9) |  |  | 1,056.0 |  |  | 87.6 |  |  | 0.3 |  |  | 87.9 |
Changes in fair value recognized in earnings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Changes in valuation inputs or assumptions | 307.8 |  |  | 146.2 |  |  | 454.0 |  |  | 62.4 |  |  | 87.1 |  |  | 149.5 |  |  | (145.3) |  |  | 37.3 |  |  | (108.1) |
Realization of cash flows | (185.4) |  |  | (90.1) |  |  | (275.5) |  |  | (136.5) |  |  | (113.7) |  |  | (250.2) |  |  | (77.4) |  |  | (94.0) |  |  | (171.4) |
Fair value gains (losses) recognized in earnings | 122.4 |  |  | 56.1 |  |  | 178.5 |  |  | (74.1) |  |  | (26.7) |  |  | (100.7) |  |  | (222.7) |  |  | (56.8) |  |  | (279.5) |
Ending balance | $ | 1,931.8 |  |  | $ | 733.5 |  |  | $ | 2,665.2 |  |  | $ | 1,571.8 |  |  | $ | 678.3 |  |  | $ | 2,250.1 |  |  | $ | 578.9 |  |  | $ | 715.9 |  |  | $ | 1,294.8 |
(1)Servicing transfers and adjustments for 2022 include a $39.0 million derecognition of Agency MSRs previously sold to MAV in a transaction which did not qualify for sale accounting treatment. We derecognized the MSRs with a UPB of $2.9 billion from our balance sheet upon the sale of the MSRs by MAV to a third party. Servicing transfers and adjustments for 2020 include a $263.7 million derecognition of MSRs/Rights to MSRs effective with the February 20, 2020 notice of termination of the PMC subservicing agreement by Rithm. See Note 8 — Other Financing Liabilities, at Fair Value for further information.
| December 31, 2022 |  | December 31, 2021
Delinquent loans | Agency |  | Non - Agency |  | Total |  | Agency |  | Non - Agency |  | Total
30 days | 1.7 | % |  | 8.5 | % |  | 4.8 | % |  | 1.4 | % |  | 7.2 | % |  | 4.1 | %
60 days | 0.5 |  |  | 3.3 |  |  | 1.8 |  |  | 0.4 |  |  | 2.8 |  |  | 1.6 |
90 days or more | 1.1 |  |  | 8.6 |  |  | 4.5 |  |  | 1.9 |  |  | 8.0 |  |  | 4.8 |
Total 30-60-90 days or more | 3.3 | % |  | 20.4 | % |  | 11.1 | % |  | 3.7 | % |  | 18.0 | % |  | 10.5 | %
Schedule of Composition of Primary Servicing and Subservicing Portfolios by Type of Property Serviced as Measured by UPB |
| December 31, 2022 |  | December 31, 2021
| Fair Value |  | UPB ($ billions) |  | Fair Value |  | UPB ($ billions)
Owned MSRs | $ | 1,710.6 |  |  | $ | 126.2 |  |  | $ | 1,422.5 |  |  | $ | 127.9 |
Rithm transferred MSRs (1) (2) | 601.2 |  |  | 47.3 |  |  | 558.9 |  |  | 53.7 |
MAV transferred MSRs (1) | 353.4 |  |  | 26.1 |  |  | 268.7 |  |  | 24.0 |
Total MSRs | $ | 2,665.2 |  |  | $ | 199.6 |  |  | $ | 2,250.1 |  |  | $ | 205.6 |
(1)MSRs subject to sale agreements with Rithm and MAV that do not meet sale accounting criteria. During 2022 and 2021, we transferred MSRs with a UPB of $7.4 billion and $24.9 billion to MAV. See Note 8 — Other Financing Liabilities, at Fair Value. (2)At December 31, 2022, the UPB of MSRs transferred to Rithm for which title is retained by Ocwen was $10.8 billion and the UPB of MSRs transferred to Rithm for which title has passed was $36.4 billion.
Summary of Geographic Distributions of UPB and Count of Residential Loans and Real Estate Serviced | The geographic concentration of the UPB of residential loans and real estate we serviced and subserviced at December 31, 2022 was as follows:
(Dollars in billions) (Count in thousands) | Amount |  | Count
California | $ | 68.9 |  |  | 224.8 |
Texas | 20.8 |  |  | 117.6 |
Florida | 19.3 |  |  | 109.1 |
New York | 19.2 |  |  | 69.9 |
New Jersey | 14.1 |  |  | 56.1 |
Other | 147.5 |  |  | 801.3 |
| $ | 289.8 |  |  | 1,378.8 |
Schedule of Components of Servicing and Subservicing Fees |
| Years Ended December 31,
Servicing Revenue | 2022 |  | 2021 |  | 2020
Loan servicing and subservicing fees |  |  |  |  |
Servicing | $ | 337.8 |  |  | $ | 339.2 |  |  | $ | 216.3 |
Subservicing | 72.9 |  |  | 21.1 |  |  | 28.9 |
MAV (1) | 72.8 |  |  | 15.7 |  |  | — |
Rithm (1) | 255.0 |  |  | 304.2 |  |  | 383.7 |
Total loan servicing and subservicing fees | 738.5 |  |  | 680.3 |  |  | 628.8 |
Ancillary income |  |  |  |  |
Late charges | 41.0 |  |  | 40.9 |  |  | 47.7 |
Custodial accounts (float earnings) | 26.2 |  |  | 4.7 |  |  | 9.9 |
Reverse subservicing ancillary income | 20.4 |  |  | 1.4 |  |  | — |
Loan collection fees | 11.1 |  |  | 11.7 |  |  | 12.9 |
Recording fees | 8.5 |  |  | 16.0 |  |  | 14.3 |
Boarding and deboarding fees | 5.8 |  |  | 10.5 |  |  | 11.1 |
GSE forbearance fees | 0.8 |  |  | 1.5 |  |  | 1.2 |
Other | 10.3 |  |  | 14.8 |  |  | 11.3 |
Total ancillary income | 124.1 |  |  | 101.6 |  |  | 108.5 |
| $ | 862.6 |  |  | $ | 781.9 |  |  | $ | 737.3 |
(1)Includes servicing fees related to transferred MSRs and subservicing fees. See Note 8 — Other Financing Liabilities, at Fair Value.
Fair Value Measurement Inputs and Valuation Techniques | The following table presents the components of MSR valuation adjustments, net:
| Years Ended December 31,
2022 |  | 2021 |  | 2020
MSR fair value changes due to rates and assumptions (1) | $ | 451.7 |  | $ | 149.8 |  | $ | (108.1)
MSR realization of expected cash flows | (275.2) |  | (250.2) |  | (171.4)
Total MSR fair value gains (losses) | 176.5 |  | (100.4) |  | (279.5)
MSR pledged liability fair value changes due to rates and assumptions | (192.1) |  | (77.9) |  | 3.8
MSR pledged liability realization of expected cash flows | 104.1 |  | 89.4 |  | 113.0
Total MSR pledged liability fair value gains (losses) (2) (3) | (88.0) |  | 11.4 |  | 116.8
ESS financing liability fair value changes due to rates and assumptions | 1.4 |  | — |  | —
ESS financing liability realization of expected cash flows | 6.6 |  | — |  | —
Total ESS financing liability fair value gains (losses) (2) | 8.0 |  | — |  | —
Derivative fair value gain (loss) (MSR economic hedges) | (106.9) |  | (9.5) |  | 27.5
MSR valuation adjustments, net | $ | (10.4) |  | $ | (98.5) |  | $ | (135.2)
(1)Includes $(2.0) million, $0.3 million and $— million in 2022, 2021 and 2020, respectively, of fair value changes on the reverse MSR liability and other. (2)Also refer to Note 8 — Other Financing Liabilities, at Fair Value. (3)Includes $3.1 million expense recognized in 2022, representing the fair value of the MSRs in excess of the Pledged MSR liability derecognized upon the sale of the related MSRs by MAV to a third party.

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