| Summary of servicing portfolio and its activities |
The Company utilized the following weighted average assumptions in estimating the fair value of MSRs:
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September 30, 2022 |
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December 31, 2021 |
| Unobservable Assumptions |
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Range |
|
Weighted Average |
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Range |
|
Weighted Average |
| Weighted average prepayment speed (CPR) |
|
0.9% - 7.9% |
|
5.8
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% |
|
0.0% - 12.8% |
|
8.3 |
% |
| Discount rate |
|
NM |
|
11.7
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% |
|
NM |
|
8.5 |
% |
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The servicing portfolio associated with capitalized servicing rights consists of the following (in thousands):
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September 30, 2022 |
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December 31, 2021 |
| Fannie Mae/Freddie Mac |
$ |
7,207,398
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$ |
37,079,995 |
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| Ginnie Mae |
535,952
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1,109,962 |
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| Private investors |
1,030,666
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1,109,459 |
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| Total UPB |
$ |
8,774,016
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$ |
39,299,416 |
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| Weighted average interest rate |
3.55
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% |
|
3.03 |
% |
The activity in the loan servicing portfolio associated with capitalized servicing rights consisted of the following (in thousands):
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For the three months ended September 30, 2022 |
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For the nine months ended September 30, 2022 |
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For the three months ended September 30, 2021 |
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For the six months ended September 30, 2021 |
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For the three months ended March 31, 2021 |
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Successor |
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Predecessor |
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| Beginning UPB |
$ |
29,494,649
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$ |
39,299,416
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$ |
30,592,187 |
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$ |
26,675,358 |
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$ |
22,269,362 |
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| Originated MSRs |
1,788,998
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9,421,902
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5,380,307 |
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10,520,166 |
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6,312,227 |
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| Purchased MSRs |
—
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—
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228,470 |
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234,007 |
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|
866,806 |
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| Sold MSRs |
(22,037,083) |
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(37,529,103) |
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(320,028) |
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(320,028) |
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(1,090,267) |
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| Portfolio runoff |
(281,332) |
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(1,611,107) |
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(1,506,451) |
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(2,493,506) |
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(1,488,977) |
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| Other |
(191,216) |
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(807,092) |
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(283,370) |
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(524,882) |
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(193,793) |
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| Ending UPB |
$ |
8,774,016
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$ |
8,774,016
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$ |
34,091,115 |
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$ |
34,091,115 |
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$ |
26,675,358 |
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The activity in the MSRs asset consisted of the following (in thousands):
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For the three months ended September 30, 2022 |
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For the nine months ended September 30, 2022 |
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For the three months ended September 30, 2021 |
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For the six months ended September 30, 2021 |
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For the three months ended March 31, 2021 |
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Successor |
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Predecessor |
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| Beginning balance |
$ |
359,006
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$ |
427,942
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$ |
290,938 |
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$ |
267,364 |
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$ |
180,684 |
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| Originations |
20,241
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114,903
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|
52,252 |
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102,301 |
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65,964 |
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| Purchases |
—
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—
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2,291 |
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2,352 |
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|
9,014 |
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| Sales |
(266,723) |
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|
(470,018) |
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(2,501) |
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(2,501) |
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(8,647) |
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| Changes in fair value due to: |
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| Changes in market inputs or assumptions used in valuation model |
(4,382) |
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56,938
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|
13,165 |
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(2,886) |
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|
35,109 |
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| Changes in fair value due to portfolio runoff and other |
(5,073) |
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|
(26,696) |
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|
(15,196) |
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(25,681) |
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(14,760) |
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| Ending balance |
$ |
103,069
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$ |
103,069
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$ |
340,949 |
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$ |
340,949 |
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$ |
267,364 |
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