Investments in Servicing Related Assets (Tables)

6 Months Ended

Jun. 30, 2021

Investments in Servicing Related Assets [Abstract]

Servicing Related Assets

The following is a summary of the Company’s Servicing Related Assets as of the dates indicated (dollars in thousands):

Servicing Related Assets Summary

As of June 30, 2021

	Unpaid Principal Balance		Cost Basis			Carrying Value(A)		Weighted Average Coupon		Weighted Average Maturity (Years)(B)		Year to Date Changes in Fair Value Recorded in Other Income (Loss)
MSRs	$	21,523,383	$	210,032	(C)	$	211,995		3.63%		26.4	$	1,963
MSR Total/Weighted Average	$	21,523,383	$	210,032		$	211,995		3.63%		26.4	$	1,963

As of December 31, 2020

	Unpaid Principal Balance		Cost Basis			Carrying Value(A)		Weighted Average Coupon		Weighted Average Maturity (Years)(B)		Year to Date Changes in Fair Value Recorded in Other Income (Loss)
MSRs	$	21,641,277	$	316,314	(C)	$	174,414		3.92%		26.3	$	(141,900)
MSR Total/Weighted Average	$	21,641,277	$	316,314		$	174,414		3.92%		26.3	$	(141,900)

(A)          See Note 9 regarding the estimation of fair value, which approximates carrying value for all pools.

(B)          Weighted average maturity of the underlying residential mortgage loans in the pool is based on the unpaid principal balance.

(C) MSR cost basis consists of the carrying value of the prior period, adjusted for any purchases and sales of the underlying mortgage loans.

Geographic Concentration of Servicing Related Assets

The tables below summarize the geographic distribution for the states representing 5% or greater of the aggregate UPB of the residential mortgage loans underlying the Servicing Related Assets as of the dates indicated:

Geographic Concentration of Servicing Related Assets

As of June 30, 2021

	Percentage of Total Outstanding Unpaid Principal Balance
California		11.9	%
Virginia		9.5	%
New York		8.9	%
Maryland		7.2	%
Texas		6.1	%
North Carolina		5.9	%
All other		50.5	%
Total		100.0	%

As of December 31, 2020

	Percentage of Total Outstanding Unpaid Principal Balance
California		11.1	%
Virginia		8.4	%
New York		7.7	%
Maryland		6.7	%
Texas		5.8	%
North Carolina		5.5	%
All other		54.8	%
Total		100.0	%