v3.26.1
Servicing Investments (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, All Other Investments [Abstract]  
Schedule of Components of Servicing Investments and Components of Income From Servicing Investments, Net
Servicing Investments at June 30, 2026 and December 31, 2025 are summarized in the following table.
Table 11.1 – Components of Servicing Investments
(In Thousands)June 30, 2026December 31, 2025
Servicer advance investments, at fair value$208,754 $231,227 
Excess MSRs, at fair value40,272 37,971 
MSRs, at fair value41,799 33,032 
Total Servicing Investments$290,825 $302,230 
Strategic Investments at June 30, 2026 and December 31, 2025 are summarized in the following table.
Table 12.1 – Components of Strategic Investments
(In Thousands)June 30, 2026December 31, 2025
Strategic investments, equity method$59,370 $59,337 
Strategic investments, measurement alternative26,527 26,235 
Strategic investments, at fair value10,123 6,310 
Other investments1,113 10,076 
Total Strategic Investments$97,133 $101,958 
Income from Strategic Investments for the three and six months ended June 30, 2026 and 2025 are summarized in the following tables.
Table 12.2 – Components of Income From Strategic Investments, net
Three Months Ended June 30,Six Months Ended June 30,
(In Thousands)2026202520262025
Other (loss) income, net (1)
$3,814 $(210)$4,271 $969 
Investment fair value changes, net (2)
— (132)3,578 (212)
Total Strategic Investments Income, Net$3,814 $(342)$7,849 $757 
(1)Represents net equity method earnings from our Strategic investments that are accounted for under the equity method.
(2)Includes Investment fair value changes related to our Strategic investments that are accounted for under the measurement alternative for equity securities without readily determinable fair values. Under this approach, investments are carried at cost, adjusted for observable price changes in orderly transactions for identical or similar investments of the same issuer, or for impairment.