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Loan Sales
 9 Months Ended
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Loan Sales

Note 5—Loan Sales

The following table summarizes cash flows between the Company and transferees in transfers of loans that are accounted for as sales where the Company maintains continuing involvement with the loans:

 

 

Quarter ended September 30,

 

 

Nine months ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Cash flows:

 

 

 

 

 

 

 

 

 

 

 

 

Proceeds from sales

 

$

5,172,208

 

 

$

3,107,613

 

 

$

9,340,802

 

 

$

13,576,673

 

Loan servicing fees received

 

$

162,605

 

 

$

166,809

 

 

$

485,089

 

 

$

496,522

 

 

The following table summarizes for the dates presented collection status information for loans that are accounted for as sales where the Company maintains continuing involvement:

 

 

September 30, 2024

 

 

December 31, 2023

 

 

 

(in thousands)

 

UPB of loans outstanding

 

$

224,586,882

 

 

$

228,838,471

 

Collection status (UPB)

 

 

 

 

 

 

Delinquency:

 

 

 

 

 

 

30-89 days delinquent

 

$

2,510,113

 

 

$

2,184,500

 

90 or more days delinquent:

 

 

 

 

 

 

Not in foreclosure

 

$

891,525

 

 

$

1,029,962

 

In foreclosure

 

$

105,065

 

 

$

85,045

 

Bankruptcy

 

$

256,683

 

 

$

185,320

 

Custodial funds managed by the Company (1)

 

$

3,019,441

 

 

$

1,759,974

 

 

(1)
Custodial funds include borrower and investor custodial cash accounts relating to loans serviced under mortgage servicing agreements and are not included on the Company’s consolidated balance sheets. The Company earns placement fees on certain of the custodial funds it manages on behalf of the loans’ borrowers and investors, and these fees are included in Interest income in the Company’s consolidated statements of income.