XML 131 R99.htm IDEA: XBRL DOCUMENT v3.8.0.1
Variable Interest Entities (Details)
1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Aug. 31, 2017
USD ($)
Dec. 31, 2017
USD ($)
Sep. 30, 2017
USD ($)
Jun. 30, 2017
USD ($)
Mar. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Sep. 30, 2016
USD ($)
Jun. 30, 2016
USD ($)
Mar. 31, 2016
USD ($)
Sep. 30, 2017
Dec. 31, 2017
USD ($)
Closing
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
ASSETS                            
Cash   $ 542,000,000       $ 906,000,000         $ 542,000,000 $ 906,000,000 $ 906,000,000 $ 1,259,000,000
Restricted cash   41,000,000       57,000,000         41,000,000 57,000,000    
Mortgage loans held for sale   270,000,000       683,000,000         270,000,000 683,000,000    
Accounts receivable, net   78,000,000       66,000,000         78,000,000 66,000,000    
Servicing advances, net   356,000,000       628,000,000         356,000,000 628,000,000    
Property and equipment, net   22,000,000       36,000,000         22,000,000 36,000,000    
Other assets   26,000,000       109,000,000         26,000,000 109,000,000    
Total assets [1]   1,811,000,000       3,175,000,000         1,811,000,000 3,175,000,000    
LIABILITIES                            
Accounts payable and accrued expenses   141,000,000       193,000,000         141,000,000 193,000,000    
Mortgage warehouse and advance facilities   252,000,000       655,000,000         252,000,000 655,000,000    
Other liabilities   47,000,000       157,000,000         47,000,000 157,000,000    
Total liabilities [1]   1,258,000,000       2,052,000,000         1,258,000,000 2,052,000,000    
Company Involvement with Variable Interest Entity                            
Net loss   (31,000,000) $ (42,000,000) $ (50,000,000) $ (71,000,000) (133,000,000) $ (21,000,000) $ (9,000,000) $ (30,000,000)   $ (194,000,000) (193,000,000) (131,000,000)  
Variable Interest Entities                            
Number of asset sale closings | Closing                     5      
Proceeds from PHH Home Loans asset sales $ 70,000,000                   $ 70,000,000 0 0  
Gain on PHH Home Loans asset sales $ (70,000,000)                   (70,000,000) 0 0  
Exit and disposal costs                     62,000,000 41,000,000 0  
Mandatorily redeemable noncontrolling interest   20,000,000       0         $ 20,000,000 0    
Notice period of purchase requirement                   2 years 2 years      
Variable Interest Entity                            
ASSETS                            
Cash   33,000,000       67,000,000         $ 33,000,000 67,000,000    
Restricted cash   13,000,000       24,000,000         13,000,000 24,000,000    
Mortgage loans held for sale   60,000,000       350,000,000         60,000,000 350,000,000    
Accounts receivable, net   1,000,000       9,000,000         1,000,000 9,000,000    
Servicing advances, net   56,000,000       150,000,000         56,000,000 150,000,000    
Property and equipment, net   0       1,000,000         0 1,000,000    
Other assets   1,000,000       12,000,000         1,000,000 12,000,000    
Total assets   164,000,000       613,000,000         164,000,000 613,000,000    
LIABILITIES                            
Accounts payable and accrued expenses   6,000,000       11,000,000         6,000,000 11,000,000    
Mortgage warehouse and advance facilities   72,000,000       399,000,000         72,000,000 399,000,000    
Other liabilities   5,000,000       5,000,000         5,000,000 5,000,000    
Total liabilities   83,000,000       415,000,000         83,000,000 415,000,000    
PHH Home Loans | Variable Interest Entity                            
ASSETS                            
Cash   33,000,000       67,000,000         33,000,000 67,000,000    
Restricted cash   3,000,000       5,000,000         3,000,000 5,000,000    
Mortgage loans held for sale   60,000,000       350,000,000         60,000,000 350,000,000    
Accounts receivable, net   1,000,000       9,000,000         1,000,000 9,000,000    
Servicing advances, net   0       0         0 0    
Property and equipment, net   0       1,000,000         0 1,000,000    
Other assets   1,000,000       11,000,000         1,000,000 11,000,000    
Total assets   98,000,000       443,000,000         98,000,000 443,000,000    
Assets held as collateral   43,000,000       320,000,000         43,000,000 320,000,000    
LIABILITIES                            
Accounts payable and accrued expenses   6,000,000       11,000,000         6,000,000 11,000,000    
Mortgage warehouse and advance facilities   40,000,000       300,000,000         40,000,000 300,000,000    
Other liabilities   5,000,000       5,000,000         5,000,000 5,000,000    
Total liabilities   51,000,000       316,000,000         51,000,000 316,000,000    
Company Involvement with Variable Interest Entity                            
Net loss                     47,000,000 16,000,000 28,000,000  
PHH Corporation investment   32,000,000       57,000,000         32,000,000 57,000,000    
Intercompany receivable   6,000,000       13,000,000         $ 6,000,000 13,000,000    
Variable Interest Entities                            
Ownership percentage                     50.10%      
Ownership percentage by Realogy                     49.90%      
Originated residential mortgage loans                     $ 5,400,000,000 7,100,000,000 7,900,000,000  
Residential mortgage loans brokered or sold                     1,700,000,000 2,000,000,000 2,700,000,000  
Outstanding commitments related to residential mortgage loans   39,000,000                 39,000,000      
Distributions received                     60,000,000 8,000,000 10,000,000  
PHH Home Loans | Variable Interest Entity | Unsecured subordinated Intercompany Line of Credit                            
Variable Interest Entities                            
Intercompany line of credit   0       0         0 0    
Servicing Advance Receivables Trust | Variable Interest Entity                            
ASSETS                            
Cash   0       0         0 0    
Restricted cash   10,000,000       19,000,000         10,000,000 19,000,000    
Mortgage loans held for sale   0       0         0 0    
Accounts receivable, net   0       0         0 0    
Servicing advances, net   56,000,000       150,000,000         56,000,000 150,000,000    
Property and equipment, net   0       0         0 0    
Other assets   0       1,000,000         0 1,000,000    
Total assets   66,000,000       170,000,000         66,000,000 170,000,000    
Assets held as collateral   66,000,000       169,000,000         66,000,000 169,000,000    
LIABILITIES                            
Accounts payable and accrued expenses   0       0         0 0    
Mortgage warehouse and advance facilities   32,000,000       99,000,000         32,000,000 99,000,000    
Other liabilities   0       0         0 0    
Total liabilities   32,000,000       99,000,000         32,000,000 99,000,000    
Company Involvement with Variable Interest Entity                            
Net loss                     (3,000,000) (4,000,000) $ (5,000,000)  
PHH Corporation investment   51,000,000       83,000,000         51,000,000 83,000,000    
Intercompany receivable   $ 0       $ 0         0 $ 0    
Variable Interest Entities                            
Distributions received                     401,000,000      
Contributed accounts receivable                     $ 367,000,000      
Realogy and its affiliates | Mortgage loan originations | Credit concentration                            
Variable Interest Entities                            
Concentration risk, percentage                     28.00%      
Reorganization                            
Variable Interest Entities                            
Exit and disposal costs                     $ 35,000,000      
PHH Home Loans Joint Venture | Reorganization                            
Variable Interest Entities                            
Exit and disposal costs                     $ 13,000,000      
[1] The Consolidated Balance Sheets include assets of variable interest entities which can be used only to settle the obligations and liabilities of variable interest entities which creditors or beneficial interest holders do not have recourse to PHH Corporation and subsidiaries as follows: December 31, 2017 2016ASSETS Cash and cash equivalents$33 $67Restricted cash13 24Mortgage loans held for sale60 350Accounts receivable, net1 9Servicing advances, net56 150Property and equipment, net— 1Other assets1 12Total assets$164 $613 LIABILITIES Accounts payable and accrued expenses$6 $11Mortgage warehouse and advance facilities72 399Other liabilities5 5Total liabilities$83 $415