v3.26.1
Advances (Tables)
 3 Months Ended
Mar. 31, 2026
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, 2026December 31, 2025
Principal and interest$90.9 $98.9 
Taxes and insurance208.9 278.8 
Foreclosures, bankruptcy, REO and other (1)
134.4 110.2 
Total advances, before allowance for losses434.3 487.9 
Allowance for losses(3.2)(4.5)
Advances, net (2)
$431.1 $483.4 
(1)     As of March 31, 2026, 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 $24.6 million.
(2) As of March 31, 2026, no single counterparty represented a balance exceeding 5% of the total, except for one subservicing client with $30.6 million. Generally, unreimbursed advances may be recovered from principal and interest collections or advance recoveries.
The following table presents the composition of servicing advances by investor:
 March 31, 2026December 31, 2025
GSE
$61.2 $82.2 
Ginnie Mae
58.8 63.3 
Non-Agency
311.0 337.9 
Advances, net$431.1 $483.4 
Schedule of Activity in Advances
The following table summarizes the activity in net advances:
Three Months Ended March 31,
 20262025
Beginning balance - before Allowance for Losses$487.9 $584.6 
New advances268.0 200.0 
Transfer from (to) Receivables
1.6 0.4 
Transfer from (to) REO
— 0.7 
Sales of advances (0.4)(0.3)
Acquisition of advances in connection with the purchase of MSRs5.6 2.5 
Transfer to Loans held for sale (incl. capitalization upon Ginnie Mae modifications)
(2.4)(4.8)
Collections of advances and other
(326.0)(261.4)
Ending balance - before Allowance for Losses434.3 521.5 
Beginning balance - Allowance for Losses(4.5)$(7.4)
Provision expense(1.0)(2.1)
Net charge-offs and other 2.3 2.0 
Ending balance - Allowance for Losses(3.2)(7.5)
Ending balance, net$431.1 $514.0