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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:        
Net loss $ (35) $ (50) $ (65) $ (121)
Adjustments to reconcile Net loss to net cash provided by operating activities:        
Capitalization of originated mortgage servicing rights     (3) (18)
Change in fair value of mortgage servicing rights and related derivatives 10 29 (13) 58
Change in fair value of mortgage servicing rights secured liability (6) 1 18 1
Origination of mortgage loans held for sale     (417) (3,791)
Proceeds on sale of and payments from mortgage loans held for sale     646 3,977
Net gain on interest rate lock commitments, mortgage loans held for sale and related derivatives     (13) (121)
Depreciation and amortization 2 3 5 7
Deferred income tax benefit     0 (90)
Other adjustments and changes in other assets and liabilities, net     (50) 148
Net cash provided by operating activities     108 50
Cash flows from investing activities:        
Net cash paid on derivatives related to mortgage servicing rights     0 (45)
Proceeds on sale of mortgage servicing rights 3 20 9 91
Proceeds on sale of servicing advances     0 11
Purchases of property and equipment     (2) 0
Net cash provided by investing activities     7 57
Cash flows from financing activities:        
Proceeds from secured borrowings     722 4,463
Principal payments on secured borrowings     (914) (4,533)
Proceeds from mortgage servicing rights secured liability 1   8 102
Repurchase of common stock     0 (24)
Cash used to acquire mandatorily redeemable noncontrolling interest     (19) 0
Other, net     0 (2)
Net cash (used in) provided by financing activities     (203) 6
Net (decrease) increase in Cash, cash equivalents and restricted cash     (88) 113
Cash, cash equivalents and restricted cash at beginning of period     583 963
Cash, cash equivalents and restricted cash at end of period 495 1,076 495 1,076
Cash, cash equivalents and restricted cash at end of period - continuing operations 494 1,000 494 1,000
Cash, cash equivalents and restricted cash at end of period - discontinued operations $ 1 $ 76 $ 1 $ 76