| MSR Financing Receivables |
The following table presents activity related to Company’s investments in Forward MSR-related investments for the three- and six-month periods ended June 30, 2026 and 2025. | | | | | | | | | | | | | | | | | | | | | | | | | Three-Month Period Ended | | Six-Month Period Ended | | (In thousands) | June 30, 2026 | | June 30, 2025 | | June 30, 2026 | | June 30, 2025 | | Forward MSR-related investments, at fair value, beginning balance | $ | 72,824 | | | $ | 87,203 | | | $ | 77,852 | | | $ | 77,848 | | | Distributions | (5,006) | | | (6,122) | | | (12,295) | | | (14,163) | | | Accretion of interest income | 2,583 | | | 2,927 | | | 5,325 | | | 5,581 | | | Change in unrealized gain (loss) | 5,500 | | | (2,752) | | | 5,019 | | | 11,990 | | | Forward MSR-related investments, at fair value, ending balance | $ | 75,901 | | | $ | 81,256 | | | $ | 75,901 | | | $ | 81,256 | |
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