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Investments in Servicing Related Assets (Tables)

3 Months Ended

Mar. 31, 2022

Investments in Servicing Related Assets [Abstract]

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 March 31, 2022

	Unpaid Principal Balance		Carrying Value^(A)		Weighted Average Coupon			Weighted Average Maturity (Years)^(B)		Year to Date Changes in Fair Value Recorded in Other Income (Loss)
MSRs	$	20,441,178	$	246,103		3.48	%		26.2	$	21,731
MSR Total/Weighted Average	$	20,441,178	$	246,103		3.48	%		26.2	$	21,731

As of December 31, 2021

	Unpaid Principal Balance		Carrying Value^(A)		Weighted Average Coupon			Weighted Average Maturity (Years)^(B)		Year to Date Changes in Fair Value Recorded in Other Income (Loss)
MSRs	$	20,773,278	$	218,727		3.51	%		26.3	$	(11,062	)
MSR Total/Weighted Average	$	20,773,278	$	218,727		3.51	%		26.3	$	(11,062	)

(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.

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 March 31, 2022

	Percentage of Total Outstanding Unpaid Principal Balance
California		14.1	%
Virginia		9.2	%
New York		8.8	%
Maryland		6.9	%
Texas		6.2	%
North Carolina		5.6	%
All other		49.2	%
Total		100.0	%

As of December 31, 2021

	Percentage of Total Outstanding Unpaid Principal Balance
California		13.8	%
Virginia		9.3	%
New York		8.8	%
Maryland		6.9	%
Texas		6.2	%
North Carolina		5.6	%
All other		49.4	%
Total		100.0	%