Quarterly report pursuant to Section 13 or 15(d)

Mortgage Servicing Rights, at Fair Value (Tables)

v3.22.1
Mortgage Servicing Rights, at Fair Value (Tables)
3 Months Ended
Mar. 31, 2022
Transfers and Servicing [Abstract]  
Summary of servicing portfolio and its activities
The servicing portfolio associated with capitalized servicing rights consists of the following (in thousands):
 
    
March 31,
2022
   
December 31,
2021
 
Fannie Mae/Freddie Mac
  
$
31,324,584
 
  $ 37,079,995  
Ginnie Mae
  
 
1,656,411
 
    1,109,962  
Private investors
  
 
1,077,563
 
    1,109,459  
    
 
 
   
 
 
 
Total UPB
  
$
34,058,558
 
  $ 39,299,416  
    
 
 
   
 
 
 
Weighted average interest rate
  
 
3.12
    3.03
The activity in the loan servicing portfolio associated with capitalized servicing rights consisted of the following (in thousands):
 
    
For the three
months ended
March 31,
2022
    
January 1, 2021

to

March 31, 2021
 
    
Successor
    
Predecessor
 
Beginning UPB
  
$
39,299,416
 
   $ 22,269,362  
Originated MSRs
  
 
4,257,281
 
     6,312,227  
Purchased MSRs
  
 
—  
 
     866,806  
Sold MSRs
  
 
(8,368,734
     (1,090,267
Portfolio runoff
  
 
(805,668
     (1,488,977
Other
  
 
(323,737
     (193,793
    
 
 
    
 
 
 
Ending UPB
  
$
34,058,558
 
   $ 26,675,358  
    
 
 
    
 
 
 
 
The activity in the MSRs asset consisted of the following (in thousands):
 
   
For the three
months ended
March 31, 2022
           
January 1, 2021

to

March 31, 2021
 
   
Successor
           
Predecessor
 
Beginning balance
 
$
427,942
 
      
 
   $ 180,684  
Originations
 
 
53,444
 
      
 
     65,964  
Purchases
 
 
—  
 
      
 
     9,014  
Sales
 
 
(107,652
      
 
     (8,647
Changes in fair value due to:
              
 
        
Changes in market inputs or assumptions used in valuation model
 
 
63,890
 
      
 
     35,109  
Changes in fair value due to portfolio runoff and other
 
 
(11,522
      
 
     (14,760
   
 
 
             
 
 
 
Ending balance
 
$
426,102
 
            $ 267,364  
   
 
 
             
 
 
 
Summary of Information regarding loan servicing portfolio delinquencies percentages and unpaid balance
The following table provides a summary of the loan servicing portfolio delinquencies as a percentage of the total number of loans and the total UPB of the portfolio:
 
    
March 31, 2022
   
December 31, 2021
 
    
Number of
Loans
   
Unpaid
Balance
   
Number of
Loans
   
Unpaid
Balance
 
Portfolio delinquency 30 days
  
 
0.4
 
 
0.4
    0.4     0.3
60 days
  
 
0.1
 
 
0.1
    0.1     0.0
90 or more days
  
 
0.1
 
 
0.1
    0.1     0.1
    
 
 
   
 
 
   
 
 
   
 
 
 
Total
  
 
0.6
 
 
0.6
    0.6     0.4
    
 
 
   
 
 
   
 
 
   
 
 
 
Foreclosure/real estate owned
  
 
0.0
 
 
0.0
    0.0     0.0