ALLOWANCE FOR RISK-SHARING OBLIGATIONS (Tables)

9 Months Ended

Sep. 30, 2023

ALLOWANCE FOR RISK-SHARING OBLIGATIONS

Summary of Allowance for Risk-Sharing Obligations

	For the three months ended				For the nine months ended
	September 30,				September 30,
Roll Forward of Allowance for Risk-Sharing Obligations (in thousands)	2023		2022		2023		2022
Beginning balance	$	32,410	$	48,475	$	44,057	$	62,636
Provision (benefit) for risk-sharing obligations		555		1,183		(11,092)		(12,978)
Write-offs		(2,008)		—		(2,008)		—
Ending balance	$	30,957	$	49,658	$	30,957	$	49,658

Schedule of CECL Calculation Details and Provision Impact

		2023
CECL Calculation Details and Provision Impact		Q1		Q2		Q3		Total
Forecast-period loss rate (in basis points)		2.3		2.3		2.3		N/A
Reversion-period loss rate (in basis points)		1.5		1.5		1.5		N/A
Historical loss rate (in basis points)		0.6		0.6		0.6		N/A
At-risk Fannie Mae servicing portfolio UPB (in billions)	$	54.5	$	55.7	$	57.4		N/A
CECL allowance (in millions)	$	28.7	$	28.9	$	31.0		N/A
Provision (benefit) for risk-sharing obligations (in millions)	$	(11.0)	$	(0.7)	$	0.6	$	(11.1)

		2022
CECL Calculation Details and Provision Impact		Q1		Q2		Q3		Total
Forecast-period loss rate (in basis points)		3.0		2.2		2.2		N/A
Reversion-period loss rate (in basis points)		2.0		1.7		1.7		N/A
Historical loss rate (in basis points)		1.2		1.2		1.2		N/A
At-risk Fannie Mae servicing portfolio UPB (in billions)	$	49.7	$	51.2	$	52.1		N/A
CECL allowance (in millions)	$	42.5	$	37.7	$	38.9		N/A
Provision (benefit) for risk-sharing obligations (in millions)	$	(9.4)	$	(4.8)	$	1.2	$	(13.0)