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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
1 Months Ended 11 Months Ended 12 Months Ended
Feb. 09, 2018
Dec. 31, 2018
Dec. 31, 2017
Operating activities      
Net income (loss) $ 521,007 $ (205,094) $ (426,899)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities      
Net fair value gains on reverse loans and related HMBS obligations (10,576) (46,833) (42,419)
Amortization of servicing rights 2,187 7,531 21,954
Change in fair value of servicing rights (64,663) 97,007 266,246
Change in fair value of charged-off loans (5,746) (11,562) (15,834)
Other net fair value (gains) losses (3,055) (4,654) 3,453
Accretion of discounts on residential loans and advances (325) (96) (3,415)
Accretion of discounts on debt and amortization of deferred debt issuance costs 19,831 26,125 51,779
Provision for uncollectible advances 2,674 39,819 51,612
Depreciation and amortization of premises and equipment and intangible assets 3,810 32,358 40,764
Provision (benefit) for deferred income taxes 24 2,426 (3,799)
Share-based compensation 538 2,491 2,212
Net gains on sales of loans (27,963) (161,710) (284,391)
Non-cash reorganization items (403,174) 0 34,406
Non-cash fresh start accounting adjustments (77,229) 0 0
Gain on sale of residual interests and deconsolidation of the Residual Trusts, net 0 (29,214) 0
Goodwill and intangible assets impairment 0 23,660 0
Gain on sale of business 0 0 (67,734)
Other 1,458 11,877 10,166
Purchases and originations of residential loans held for sale (1,207,155) (11,821,103) (16,128,212)
Proceeds from sales of and payments on residential loans held for sale 1,428,953 11,461,430 16,948,619
Changes in assets and liabilities      
Decrease (increase) in receivables (27,855) 24,715 80,779
Decrease in servicer and protective advances 61,642 225,387 328,658
Decrease (increase) in other assets (27,956) 3,650 (37,553)
Increase (decrease) in payables and accrued liabilities 28,780 (90,441) (88,638)
Increase (decrease) in servicer payables (7,375) 33,954 (29,553)
Cash flows provided by (used in) operating activities 207,832 (378,277) 712,201
Investing activities      
Purchases and originations of reverse loans held for investment (39,937) (218,749) (382,769)
Principal payments and proceeds received on reverse loans held for investment 144,489 1,641,552 1,431,049
Principal payments and proceeds received on mortgage loans held for investment 8,880 229,748 161,419
Payments received on charged-off loans held for investment 1,247 13,421 16,997
Payments received on receivables related to Non-Residual Trusts 1,727 2,596 14,869
Proceeds from sales of real estate owned, net 17,862 124,430 144,212
Purchases of premises and equipment (268) (4,210) (6,141)
Proceeds from the sale of residual interests in Residual Trusts, net 0 29,924 0
Proceeds from sales of servicing rights, net 94,994 207,478 137,301
Cash outflow from deconsolidation of variable interest entities 0 (184,182) (100,951)
Proceeds from sale of business 0 0 131,074
Other (1,563) 6,028 5,172
Cash flows provided by investing activities 227,431 1,848,036 1,552,232
Financing activities      
Payments on corporate debt (110,590) (157,645) (186,910)
Proceeds from securitizations of reverse loans 27,881 251,946 464,192
Payments on HMBS related obligations (310,000) (2,052,330) (1,992,729)
Issuances of servicing advance liabilities 5,444 456,192 1,482,960
Payments on servicing advance liabilities (101,093) (625,715) (1,785,129)
Net change in warehouse borrowings related to mortgage loans (190,104) 359,419 (546,556)
Net change in warehouse borrowings related to reverse loans 112,216 377,536 428,399
Payments on mortgage-backed debt (8,876) (58,398) (108,018)
Other debt issuance costs paid (10,472) (16,206) (49,305)
Other 0 113 (1,603)
Cash flows used in financing activities (585,594) (1,465,088) (2,294,699)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents (150,331) 4,671 (30,266)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of the period 398,795 248,464 429,061
Cash and cash equivalents and restricted cash and cash equivalents at end of the period $ 248,464 $ 253,135 $ 398,795