ALLOWANCE FOR RISK-SHARING OBLIGATIONS (Tables)

9 Months Ended

Sep. 30, 2024

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)	2024		2023		2024		2023
Beginning balance	$	30,477	$	32,410	$	31,601	$	44,057
Provision (benefit) for risk-sharing obligations		(150)		555		(1,274)		(11,092)
Write-offs		(468)		(2,008)		(468)		(2,008)
Ending balance	$	29,859	$	30,957	$	29,859	$	30,957

Schedule of CECL Calculation Details and Provision Impact

		2024
CECL Allowance Calculation Inputs, Details, and Provision Impact		Q1		Q2		Q3		Total
Forecast-period loss rate (in basis points)		2.3		2.3		2.1		N/A
Reversion-period loss rate (in basis points)		1.3		1.3		1.2		N/A
Historical loss rate (in basis points)		0.3		0.3		0.3		N/A
At-risk Fannie Mae servicing portfolio UPB (in billions)	$	59.2	$	59.5	$	60.6		N/A
CECL allowance (in millions)	$	25.0	$	24.9	$	23.4		N/A
Provision (benefit) for CECL allowance (in millions)	$	(1.5)	$	(0.1)	$	(1.5)	$	(3.1)

		2023
CECL Allowance Calculation Inputs, 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 CECL allowance (in millions)	$	(11.0)	$	0.2	$	0.5	$	(10.3)