Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Carrying Amounts of Assets and Liabilities of VIEs

Included in the tables below are summaries of the carrying amounts of the assets and liabilities of consolidated VIEs (in thousands):



	Successor
	December 31, 2018
	Non-Residual Trusts		Servicer and Protective Advance Financing Facilities		Revolving Credit Facilities-Related VIEs		Reverse Loan Buyout VIE		Total
Assets
Restricted cash and cash equivalents	$	3,467	$	8,762	$	—	$	—	$	12,229
Residential loans at fair value	117,410		—		—		207,524		324,934
Receivables, net	1,945		—		133		1,760		3,838
Servicer and protective advances, net	—		239,769		—		4,961		244,730
Other assets	444		547		10,804		11,297		23,092
Total assets	$	123,266	$	249,078	$	10,937	$	225,542	$	608,823

Liabilities
Payables and accrued liabilities	$	—	$	446	$	—	$	1,465	$	1,911
Servicing advance liabilities	—		218,291		—		—		218,291
Warehouse borrowings	—		—		—		225,399		225,399
Mortgage-backed debt	131,313		—		—		—		131,313
Total liabilities	$	131,313	$	218,737	$	—	$	226,864	$	576,914




	Predecessor
	December 31, 2017
	Residual Trusts		Non-Residual Trusts		Servicer and Protective Advance Financing Facilities		Revolving Credit Facilities-Related VIEs		Total
Assets
Restricted cash and cash equivalents	$	12,687	$	8,020	$	23,669	$	—	$	44,376
Residential loans at amortized cost, net	424,420		—		—		—		424,420
Residential loans at fair value	—		301,435		—		—		301,435
Receivables, net	—		5,608		—		216		5,824
Servicer and protective advances, net	—		—		446,799		—		446,799
Other assets	9,924		1,072		1,301		27,540		39,837
Total assets	$	447,031	$	316,135	$	471,769	$	27,756	$	1,262,691

Liabilities
Payables and accrued liabilities	$	2,178	$	—	$	908	$	—	$	3,086
Servicing advance liabilities ⁽¹⁾	—		—		444,563		—		444,563
Mortgage-backed debt	387,200		348,682		—		—		735,882
Total liabilities	$	389,378	$	348,682	$	445,471	$	—	$	1,183,531

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(1)	The notes outstanding under Servicer and Protective Advance Financing Facilities were acquired by a subsidiary during the fourth quarter of 2017, primarily with proceeds from the WIMC Securities Master Repurchase Agreement. These notes are therefore eliminated upon consolidation at December 31, 2017.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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