v3.26.3
Advances (Tables)
 9 Months Ended
Sep. 30, 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:
September 30, 2026December 31, 2025
Principal and interest$82.1 $98.9 
Taxes and insurance174.9 278.8 
Foreclosures, bankruptcy, REO and other (1)
121.4 110.2 
Total advances, before allowance for losses378.4 487.9 
Allowance for losses(3.3)(4.5)
Advances, net (2)
$375.1 $483.4 
(1)     As of September 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 $23.8 million.
(2) As of September 30, 2026, there was one counterparty that represented a balance exceeding 5% of the total, with a balance of $34.4 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:
September 30, 2026December 31, 2025
GSE
$42.6 $82.2 
Ginnie Mae
59.9 63.3 
Non-Agency
272.6 337.9 
Advances, net$375.1 $483.4 
Schedule of Activity in Advances
The following table summarizes the activity in net advances:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Beginning balance - before Allowance for Losses$372.8 $467.8 $487.9 $584.6 
New advances282.9 225.7 798.6 621.4 
Transfer from (to) Receivables
4.1 — 9.4 (0.2)
Sales of advances (0.4)(0.3)(1.3)(1.0)
Acquisition of advances in connection with the purchase of MSRs— 0.6 6.2 4.0 
Transfer to Loans held for sale (incl. capitalization upon Ginnie Mae modifications)
(5.6)(5.5)(17.3)(15.7)
Collections of advances and other
(275.4)(247.7)(905.1)(752.4)
Ending balance - before Allowance for Losses378.4 440.7 378.4 440.7 
Beginning balance - Allowance for Losses(3.3)(6.4)(4.5)(7.4)
Provision expense(1.3)(1.5)(3.3)(4.5)
Net charge-offs and other 1.3 2.3 4.5 6.4 
Ending balance - Allowance for Losses(3.3)(5.6)(3.3)(5.6)
Ending balance, net$375.1 $435.1 $375.1 $435.1