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Servicing Activities (Tables)
 12 Months Ended
Dec. 31, 2017
Transfers and Servicing [Abstract]  
Schedule of total servicing portfolio
The following table summarizes the total servicing portfolio, which consists of loans associated with capitalized MSRs owned and secured, loans held for sale, and the portfolio associated with loans subserviced for others: 
 
December 31,
 
2017
 
2016
 
Fair Value
 
UPB
 
Fair Value
 
UPB
 
(In millions)
Capitalized MSRs owned
$
57

 
$
8,592

 
$
690

 
$
84,657

Capitalized MSRs under secured borrowing arrangements and subserviced (1)
419

 
49,193

 
—

 
—

Total capitalized MSRs
$
476

 
$
57,785

 
$
690

 
$
84,657

Subserviced
 
 
89,844

 
 
 
89,170

Other servicing
 
 
526

 
 
 
815

Total
 
 
$
148,155

 
 
 
$
174,642

 ———————
(1) 
Accounted for as a secured borrowing arrangement. Refer to Note 1, 'Summary of Significant Accounting Policies' for additional information.
Summary of components of loan servicing income, net
The following table summarizes the components of Loan servicing income, net:

 
Year Ended December 31,
 
2017
 
2016
 
2015
 
(In millions)
Servicing fees from capitalized portfolio (1)
$
145

 
$
266

 
$
304

Subservicing fees
56

 
67

 
70

Late fees and other ancillary revenue
29

 
39

 
40

Loss on sale of MSRs and related costs
(16
)
 
(3
)
 
(5
)
Curtailment interest paid to investors
(6
)
 
(16
)
 
(15
)
Loan servicing income
208

 
353

 
394

Change in fair value of MSRs, net of related derivatives (2)
(119
)
 
(228
)
 
(158
)
Change in fair value of MSRs secured liability
48

 
—

 
—

Loan servicing income, net
$
137

 
$
125

 
$
236

________________
(1) 
Servicing fees from capitalized portfolio for the year ended December 31, 2017 include $29 million related to the estimated yield on capitalized MSRs treated as a secured borrowing arrangement. This is fully offset by the MSRs secured interest expense included within Net interest expense.
(2) 
Derivative gains for the year ended December 31, 2017 were not significant. Amounts are net of derivative gains of $10 million and $29 million for the years ended December 31, 2016 and 2015, respectively.
Schedule of MSRs committed under sale agreements
The following table summarizes the Company's MSRs and its commitments under sale agreements, based on the portfolio as of December 31, 2017:
 
UPB
 
Fair Value
 
(In millions)
MSR commitments:
 
 
 
New Residential
$
5,940

 
$
34

Other counterparties
565

 
5

MSRs capitalized under secured borrowing arrangements and subserviced
49,193

 
419

Non-committed
2,087

 
18

Total MSRs
$
57,785

 
$
476
Schedule of activity in loan servicing portfolio associated with capitalized servicing rights
The activity in the total loan servicing portfolio unpaid principal balance associated with capitalized mortgage servicing rights consisted of:
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
2017
 
MSRs Owned
 
MSRs Secured Asset
 
(In millions)
Balance, beginning of period
$
84,657

 
$
98,990

 
$
112,686

 
$
—

Additions from loans sold with servicing retained
3,270

 
5,874

 
8,841

 
—

Payoffs and curtailments
(7,667
)
 
(19,211
)
 
(19,092
)
 
(4,847
)
Sales that have been derecognized
(17,628
)
 
(996
)
 
(3,445
)
 
—

Sales accounted for as secured borrowing
(54,040
)
 
—

 
—

 
54,040

Balance, end of period
$
8,592

 
$
84,657

 
$
98,990

 
$
49,193
Schedule of activity in capitalized MSRs
The activity in capitalized MSRs consisted of:  
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
2017
 
MSRs Owned
 
MSRs Secured Asset
 
(In millions)
Balance, beginning of period
$
690

 
$
880

 
$
1,005

 
$
—

Additions from loans sold with servicing retained
36

 
60

 
101

 
—

Sales that have been derecognized
(131
)
 
(12
)
 
(39
)
 
—

Sales accounted for as secured borrowing
(467
)
 
—

 
—

 
467

Changes in fair value due to:
 

 
 

 
 

 
 
Realization of expected cash flows
(59
)
 
(138
)
 
(169
)
 
(41
)
Changes in market inputs or assumptions used in the valuation model
(12
)
 
(100
)
 
(18
)
 
(7
)
Balance, end of period
$
57

 
$
690

 
$
880

 
$
419
Schedule of cash flows relating to loan sales in which the Company has continuing involvement
The following table sets forth information regarding cash flows relating to loan sales in which the Company has continuing involvement:  
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
(In millions)
Proceeds from new loan sales or securitizations
$
3,711

 
$
6,071

 
$
9,075

Servicing fees from capitalized portfolio (1) 
145

 
305

 
344

Purchases of previously sold loans (2) 
(21
)
 
(295
)
 
(128
)
Servicing advances (3) 
(998
)
 
(1,584
)
 
(2,083
)
Repayment of servicing advances (3) 
1,270

 
1,647

 
2,086

______________
(1)  
Includes servicing fees, late fees and other ancillary servicing revenue in which the Company has continuing involvement.
(2) 
Includes purchases of repurchase eligible loans and excludes indemnification payments to investors and insurers of the related mortgage loans.
(3) 
Outstanding servicing advance receivables are presented in Servicing advances, net in the Consolidated Balance Sheets, except for advances related to loans in foreclosure or real estate owned, which are included in Other assets. Repayment of servicing advances includes the $66 million received for advances from sales of MSRs executed in the year ended December 31, 2017.