v3.26.1
Advances
 6 Months Ended
Jun. 30, 2026
Advances [Abstract]  
Advances
Note 6 – Advances
The following table presents the composition of servicing advances by type:
June 30, 2026December 31, 2025
Principal and interest$79.4 $98.9 
Taxes and insurance171.7 278.8 
Foreclosures, bankruptcy, REO and other (1)
121.7 110.2 
Total advances, before allowance for losses372.8 487.9 
Allowance for losses(3.3)(4.5)
Advances, net (2)
$369.5 $483.4 
(1)     As of June 30, 2026, New York was the only state that represented a balance exceeding 5% of the total advances (based on the underlying property location of the related mortgage loans), with $24.1 million.
(2) As of June 30, 2026, there was one counterparty that represented a balance exceeding 5% of the total, with a balance of $23.3 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:
June 30, 2026December 31, 2025
GSE
$42.8 $82.2 
Ginnie Mae
60.1 63.3 
Non-Agency
266.6 337.9 
Advances, net$369.5 $483.4 
The following table summarizes the activity in net advances:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Beginning balance - before Allowance for Losses$434.3 $521.5 $487.9 $584.6 
New advances247.7 195.7 515.6 395.6 
Transfer from (to) Receivables
3.7 (0.7)5.4 (0.2)
Sales of advances (0.5)(0.4)(0.9)(0.7)
Acquisition of advances in connection with the purchase of MSRs0.6 0.9 6.2 3.4 
Transfer to Loans held for sale (incl. capitalization upon Ginnie Mae modifications)
(9.4)(5.4)(11.7)(10.2)
Collections of advances and other
(303.6)(244.0)(629.7)(504.8)
Ending balance - before Allowance for Losses372.8 467.8 372.8 467.8 
Beginning balance - Allowance for Losses(3.2)$(7.5)(4.5)(7.4)
Provision expense(1.0)(1.0)(2.0)(3.1)
Net charge-offs and other 0.9 2.1 3.2 4.1 
Ending balance - Allowance for Losses(3.3)(6.4)(3.3)(6.4)
Ending balance, net$369.5 $461.4 $369.5 $461.4