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v3.25.2

Advances | 6 Months Ended
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Jun. 30, 2025
Advances [Abstract] |
Advances |
Note 6 – Advances
The following table presents the composition of servicing advances by type:
| June 30, 2025 |  | December 31, 2024
Principal and interest | $ | 131.2 |  |  | $ | 150.1 |
Taxes and insurance | 211.9 |  |  | 314.2 |
Foreclosures, bankruptcy, REO and other (1) | 124.6 |  |  | 120.3 |
Total advances, before allowance for losses | 467.8 |  |  | 584.6 |
Allowance for losses | (6.4) |  |  | (7.4) |
Advances, net | $ | 461.4 |  |  | $ | 577.2 |
(1) No state represented a balance exceeding 5% of the total advances (based on the underlying property location of the related mortgage loans), except for the state of New York with $29.4 million. The following table presents the composition of servicing advances by investor:
| June 30, 2025 |  | December 31, 2024
GSE | $ | 43.9 |  |  | $ | 94.0 |
Ginnie Mae | 51.6 |  |  | 70.6 |
Non-Agency | 365.9 |  |  | 412.6 |
Advances, net | $ | 461.4 |  |  | $ | 577.2 |
The following table summarizes the activity in net advances:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Beginning balance - before Allowance for Losses | $ | 521.5 |  |  | $ | 610.5 |  |  | $ | 584.6 |  |  | $ | 686.1 |
New advances | 195.7 |  |  | 204.2 |  |  | 395.6 |  |  | 403.6 |
Transfer from (to) Receivables | (0.7) |  |  | 2.1 |  |  | (0.2) |  |  | 5.0 |
Sales of advances | (0.4) |  |  | (8.3) |  |  | (0.7) |  |  | (9.3) |
Acquisition of advances in connection with the purchase of MSRs | 0.9 |  |  | — |  |  | 3.4 |  |  | — |
Transfer to Loans held for sale (incl. capitalization upon Ginnie Mae modifications) | (5.4) |  |  | (2.8) |  |  | (10.2) |  |  | (4.9) |
Collections of advances and other | (244.0) |  |  | (246.2) |  |  | (504.8) |  |  | (520.9) |
Ending balance - before Allowance for Losses | 467.8 |  |  | 559.5 |  |  | 467.8 |  |  | 559.5 |
Beginning balance - Allowance for Losses | (7.5) |  |  | $ | (7.7) |  |  | (7.4) |  |  | (7.3) |
Provision expense | (1.0) |  |  | (4.2) |  |  | (3.1) |  |  | (7.1) |
Net charge-offs and other | 2.1 |  |  | 3.0 |  |  | 4.1 |  |  | 5.5 |
Ending balance - Allowance for Losses | (6.4) |  |  | (8.9) |  |  | (6.4) |  |  | (8.9) |
Ending balance, net | $ | 461.4 |  |  | $ | 550.6 |  |  | $ | 461.4 |  |  | $ | 550.6 |

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- Definition Advances [Abstract] + References No definition available. + Details
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- Definition Disclosure of non-interest-bearing advances made on behalf of borrowers or on foreclosed properties. Includes receivables for funds advanced by the servicer to meet contractual principal and interest remittance requirements for the investors, pay property taxes and insurance premiums and process foreclosures. Also includes receivables for funds advanced to maintain, repair and market foreclosed real estate properties on behalf of investors. + References No definition available. + Details
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