v3.25.1
Advances (Tables)
 3 Months Ended
Mar. 31, 2025
Advances [Abstract]  
Schedule of Advances Paid on Behalf of Borrowers or on Foreclosed Properties
The following table presents the composition of servicing advances by type:
 March 31, 2025December 31, 2024
Principal and interest$145.2 $150.1 
Taxes and insurance253.6 314.2 
Foreclosures, bankruptcy, REO and other (1)
122.7 120.3 
Total advances, before allowance for losses521.5 584.6 
Allowance for losses(7.5)(7.4)
Advances, net$514.0 $577.2 
(1)     No state represented a balance exceeding 5% of the total advances (based on the underlying property location of the related mortgage loans), except for the state of New York with $31.2 million.
The following table presents the composition of servicing advances by investor:
 March 31, 2025December 31, 2024
GSE
$64.6 $94.0 
Ginnie Mae
63.1 70.6 
Non-Agency
386.3 412.6 
Advances, net$514.0 $577.2 
Schedule of Activity in Advances
The following table summarizes the activity in net advances:
Three Months Ended March 31,
 20252024
Beginning balance - before Allowance for Losses$584.6 $686.1 
New advances200.0 199.4 
Transfer from (to) Receivables
0.4 2.9 
Transfer from (to) REO
0.7 — 
Sales of advances (0.3)(1.0)
Acquisition of advances in connection with the purchase of MSRs2.5 — 
Transfer to Loans held for sale (incl. capitalization upon Ginnie Mae modifications)
(4.8)(2.1)
Collections of advances and other (261.4)(274.7)
Ending balance - before Allowance for Losses521.5 610.5 
Beginning balance - Allowance for Losses(7.4)$(7.3)
Provision expense(2.1)(2.9)
Net charge-offs and other 2.0 2.5 
Ending balance - Allowance for Losses(7.5)(7.7)
Ending balance, net$514.0 $602.7