Segment Information

6 Months Ended

Jun. 30, 2016

Segment Reporting [Abstract]

Segment Information

13. Segment Information

Operations are conducted through the following two reportable segments:

■ Mortgage Production — provides mortgage loan origination services and sells mortgage loans.

■ Mortgage Servicing — performs servicing activities for loans originated by PHH Mortgage and mortgage servicing rights purchased from others, and acts as a subservicer for certain clients that own the underlying mortgage servicing rights.

The Company's operations are located in the U.S. The heading Other includes expenses that are not allocated back to the two reportable segments.  Management evaluates the operating results of each of the reportable segments based upon Net revenues and Segment profit or loss, which is presented as the Income or loss before income tax expense or benefit and after Net income or loss attributable to noncontrolling interest. The Mortgage Production segment profit or loss excludes Realogy’s noncontrolling interest in the profit or loss of PHH Home Loans.

Segment results were as follows:

	Total Assets
	June 30, 2016		December 31, 2015
	(In millions)
Mortgage Production segment	$	1,198	$	1,036
Mortgage Servicing segment	1,496		1,802
Other	937		804
Total	$	3,631	$	3,642

	Net Revenues
	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
	(In millions)
Mortgage Production segment	$	162	$	174	$	275	$	311
Mortgage Servicing segment	34		60		78		181
Other	—		3		—		6
Total	$	196	$	237	$	353	$	498

	Segment Profit (Loss) (2)
	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
	(In millions)
Mortgage Production segment	$	13		$	3		$	(13	)	$	(16	)
Mortgage Servicing segment	(33		)	(46		)	(54		)	11
Other (1)	(3		)	(37		)	(5		)	(46		)
Total	$	(23	)	$	(80	)	$	(72	)	$	(51	)

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⁽¹⁾ For both the three and six months ended June 30, 2015, the net results for Other include a $30 million loss on the exchange of the Convertible notes due in 2017.

⁽²⁾ The following is a reconciliation of Loss or income before income taxes to Segment loss or profit:

	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
	(In millions)
Loss before income taxes	$	(20	)	$	(74	)	$	(69	)	$	(43	)
Less: net income attributable to noncontrolling interest	3			6			3			8
Segment loss	$	(23	)	$	(80	)	$	(72	)	$	(51	)