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v3.23.3

Mortgage Servicing - Schedule of Activity Related to MSRs - Fair Value Measurement Method (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2023 | Jun. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022
Servicing Asset at Fair Value, Amount [Roll Forward] |  |  |  |  |
Beginning balance | $ 2,675.7 |  | $ 2,485.7 | $ 2,665.2 | $ 2,250.1
Sales | 0.0 |  | 0.0 | 0.0 | 149.4
Recognized on the sale of residential mortgage loans | 71.4 |  | 70.2 | 134.0 | 176.2
Purchases | 35.7 |  | 75.5 | 79.8 | 159.1
Servicing transfers and adjustments | 0.0 |  | (39.1) | (32.6) | (25.2)
Changes in fair value recognized in earnings: |  |  |  |  |
Changes in valuation inputs or assumptions | 137.7 |  | 190.6 | 190.9 | 512.4
Realization of expected cash flows | (60.7) |  | (68.7) | (177.5) | (209.1)
Ending balance | 2,859.8 | $ 2,675.7 | 2,714.2 | 2,859.8 | 2,714.2
Servicing Asset at Fair Value, Period Increase (Decrease) | 77.0 |  | 121.9 | 13.4 | 303.4
Servicing assets at fair value, net additions (sales) recognized | 107.1 |  | 106.6 | 181.2 | 160.7
Derivative, Gain (Loss) on Derivative, Net | 37.3 |  | (6.0) | 81.3 | 12.7
Servicing Asset (Liability) at Fair Value, Other Changes in Fair Value | (35.4) |  | (44.4) | (107.0) | (127.8)
Servicing Asset (Liability) at Fair Value, Changes in Fair Value Resulting From Changes in Valuation Inputs or Changes in Assumptions | 19.1 |  | 72.3 | (27.2) | 213.2
MSR valuation adjustments, net | 16.4 |  | (27.9) | 134.2 | (85.4)
Total MSR Reserve Fair Value Gains (Losses) | (0.0) |  | 2.7 | (0.3) | 2.8
UPB of MSRs sold |  |  |  | 40.7 | 11,100.0
Owned MSR |  |  |  |  |
Changes in fair value recognized in earnings: |  |  |  |  |
Changes in valuation inputs or assumptions | 137.7 |  | 187.9 | 191.0 | 509.7
MSR realization of expected cash flows | (60.7) |  | (68.6) | (177.3) | (209.1)
Total MSR fair value gains (losses) | 77.0 |  | 119.2 | 13.7 | 300.6
ESS Financing Liability |  |  |  |  |
Changes in fair value recognized in earnings: |  |  |  |  |
Servicing Liability at Fair Value, Changes in Fair Value Resulting from Changes in Valuation Inputs or Changes in Assumptions | (4.6) |  | (0.7) | (10.2) | (0.7)
Realization of expected cash flows | (7.6) |  | (0.6) | (22.5) | (0.6)
Total Fair value changes in Servicing liability at fair value | 3.1 |  | (0.1) | 12.3 | (0.1)
ESS Financing Liability |  |  |  |  |
Changes in fair value recognized in earnings: |  |  |  |  |
Servicing Liability at Fair Value, Changes in Fair Value Resulting from Changes in Valuation Inputs or Changes in Assumptions | (45.5) |  | (91.1) | (88.3) | (188.3)
Realization of expected cash flows | 17.6 |  | 23.6 | 47.8 | 80.6
Total Fair value changes in Servicing liability at fair value | (27.8) |  | (67.5) | (40.5) | (107.7)
Derivative, Gain (Loss) on Derivative, Net | (68.6) |  | (23.8) | (119.7) | (107.5)
MSR Asset Vehicle LLC | ESS Financing Liability |  |  |  |  |
Changes in fair value recognized in earnings: |  |  |  |  |
Realization of expected cash flows | 9.2 |  | 6.5 | 26.2 | 24.4
Fair Value Agency Mortgage Servicing Rights |  |  |  |  |
Servicing Asset at Fair Value, Amount [Roll Forward] |  |  |  |  |
Beginning balance | 1,967.4 |  | 1,816.6 | 1,931.8 | 1,571.8
Sales | 0.0 |  | 0.0 | 0.1 | 149.3
Recognized on the sale of residential mortgage loans | 71.4 |  | 70.2 | 134.0 | 176.2
Purchases | 35.7 |  | 75.5 | 79.8 | 159.1
Servicing transfers and adjustments | 0.0 |  | (39.1) | (32.6) | (24.3)
Changes in fair value recognized in earnings: |  |  |  |  |
Changes in valuation inputs or assumptions | 127.9 |  | 99.1 | 189.2 | 379.5
Realization of expected cash flows | (52.4) |  | (46.9) | (152.3) | (137.6)
Ending balance | 2,149.9 | 1,967.4 | 1,975.4 | 2,149.9 | 1,975.4
Servicing Asset at Fair Value, Period Increase (Decrease) | 75.4 |  | 52.2 | 36.9 | 241.9
Servicing assets at fair value, net additions (sales) recognized | 107.1 |  | 106.6 | 181.2 | 161.7
Servicing asset at fair value, amount, derecognition |  | (32.5) | 39.0 |  | 39.0
UPB of MSRs sold |  | 2,300.0 | 2,900.0 |  |
Fair Value Non-Agency Mortgage Servicing Rights |  |  |  |  |
Servicing Asset at Fair Value, Amount [Roll Forward] |  |  |  |  |
Beginning balance | 708.4 |  | 669.1 | 733.5 | 678.3
Sales | 0.0 |  | 0.0 | 0.0 | 0.0
Recognized on the sale of residential mortgage loans | 0.0 |  | 0.0 | 0.0 | 0.0
Purchases | 0.0 |  | 0.0 | 0.0 | 0.0
Servicing transfers and adjustments | 0.0 |  | (0.1) | 0.0 | (0.9)
Changes in fair value recognized in earnings: |  |  |  |  |
Changes in valuation inputs or assumptions | 9.9 |  | 91.5 | 1.7 | 132.9
Realization of expected cash flows | (8.3) |  | (21.8) | (25.2) | (71.5)
Ending balance | 709.9 | $ 708.4 | 738.8 | 709.9 | 738.8
Servicing Asset at Fair Value, Period Increase (Decrease) | 1.6 |  | 69.8 | (23.5) | 61.4
Servicing assets at fair value, net additions (sales) recognized | $ 0.0 |  | $ (0.1) | $ 0.0 | $ (0.9)

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