Accounts Receivable, Net (Tables)

3 Months Ended

Mar. 31, 2023

Receivables [Abstract]

Principal Categories of Accounts Receivable, Net

The following presents MLHS at fair value, by type:

	March 31, 2023
	Unpaid Principal		Fair Value Adjustment		Total Fair Value
	(dollars in thousands)
Conventional(a)	$	336,556	$	(33,051)	$	303,505
Government(b)	170,014		(722)		169,292
Reverse(c)	302		(109)		193
Total	$	506,872	$	(33,882)	$	472,990

	December 31, 2022
	Unpaid Principal		Fair Value Adjustment		Total Fair Value
	(dollars in thousands)
Conventional(a)	$	425,160	$	(31,639)	$	393,521
Government(b)	254,800		(5,664)		249,136
Reverse(c)	355		(19)		336
Total	$	680,315	$	(37,322)	$	642,993

(a) Conventional includes mortgage loans meeting the eligibility requirements to be sold to FNMA or FHLMC.

(b) Government includes mortgage loans meeting the eligibility requirements to be sold to GNMA (including Federal Housing Administration, Department of Veterans Affairs and United States Department of Agricultural mortgage loans).

(c) Reverse mortgages presented in MLHS on the consolidated balance sheets as a result of a repurchase.

The following presents a reconciliation of the changes in MLHS to the amounts presented on the condensed consolidated statements of cash flows:

	Three Months Ended March 31,
	2023		2022
	(dollars in thousands)
Fair value at beginning of period	$	642,993	$	5,107,161
Mortgage loans originated and purchased(a)	978,969		12,739,933
Proceeds on sales and payments received(a)	(1,142,865)		(14,505,325)
Change in fair value	3,440		(132,031)
Loss on sale(a)	(9,547)		(320,699)
Fair value at end of period	$	472,990	$	2,889,039

(a) This line as presented on the consolidated statements of cash flows excludes originated MSRs and MSR hedging.

The following presents principal categories of Accounts receivable, net:

	March 31, 2023		December 31, 2022
	(dollars in thousands)
Servicing receivable-general	$	25,958	$	14,943
Pair off receivable	2,136		619
Servicing sale receivable	27,104		29,503
Servicing advance receivable	59,786		77,257
Servicing advance reserve	(2,417)		(3,355)
Agency receivable	280		595
Income tax receivable	2,308		1,902
Interest on servicing deposits	266		302
Other	2,202		2,925
Total	$	117,623	$	124,691

Changes to the Servicing Advance Reserve

The following presents changes to the servicing advance reserve:

	Three Months Ended March 31,
	2023		2022
	(dollars in thousands)
Servicing advance reserve at beginning of period	$	(3,355)	$	(4,207)
Additions	(434)		(7,517)
Charge-offs	1,372		8,849
Servicing advance reserve at end of period	$	(2,417)	$	(2,875)