Securitizations and Variable Interests Entities (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Cash Flows Received from and Paid to Securitization Trusts Related to Transfers Accounted for as Sales Outstanding

The following table presents a summary of cash flows received from and paid to securitization trusts related to transfers of loans accounted for as sales that were outstanding:



	Years Ended December 31,
	2019			2018			2017
Proceeds received from securitizations	$	1,248,837		$	1,290,682		$	3,256,625
Servicing fees collected (1)	50,326			45,046			41,509
Purchases of previously transferred assets, net of claims reimbursed	(4,602		)	(4,395		)	(5,948		)
	$	1,294,561		$	1,331,333		$	3,292,186


(1)	We receive servicing fees based upon the securitized loan balances and certain ancillary fees, all of which are reported in Servicing and subservicing fees in the consolidated statements of operations.

Schedule of Carrying Amounts of Assets that Relate to Continuing Involvement with Transferred Forward Loans

The following table presents the carrying amounts of our assets that relate to our continuing involvement with forward loans that we have transferred with servicing rights retained as well as an estimate of our maximum exposure to loss including the UPB of the transferred loans:



	December 31,
	2019		2018
Carrying value of assets
MSRs, at fair value	$	109,581	$	132,774
Advances and match funded advances	141,829		138,679
UPB of loans transferred	14,490,984		15,600,971
Maximum exposure to loss	$	14,742,394	$	15,872,424

Schedule of Carrying Value of Assets and Liabilities of Consolidated Mortgage-backed Securitization Trusts

The table below presents the carrying value and classification of the assets and liabilities of two consolidated mortgage-backed securitization trusts included in our consolidated balance sheet as a result of residual securities issued by the trust that we acquired during the third quarter of 2018.



	December 31,
	2019		2018
Loans held for investment, at fair value - Restricted for securitization investors	$	23,342	$	26,520
Financing liability - Owed to securitization investors, at fair value	22,002		24,815