XML 33 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
Derivative Financial Instruments
 9 Months Ended
Sep. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
9. Derivative Financial Instrument

Derivative instruments utilized by the Company primarily include IRLCs, LPCs, forward MBS trades, Eurodollar and Treasury futures and interest rate swap agreements.

Associated with the Company and Predecessor's derivatives are $3 and $1 in collateral deposits on derivative instruments recorded in other assets on the Company and Predecessor's consolidated balance sheets as of September 30, 2018 and December 31, 2017, respectively. The Company and the Predecessor do not offset fair value amounts recognized for derivative instruments with amounts collected and/or deposited on derivative instruments in its consolidated balance sheets.
The following table provides the outstanding notional balances, fair values of outstanding positions and recorded gains/(losses).
 
 
 
Successor
 
Predecessor
 
 
 
September 30, 2018
 
For the Period August 1 - September 30, 2018
 
For the Period January 1 - July 31, 2018
 
Expiration
Dates
 
Outstanding
Notional
 
Fair
Value
 
Recorded (Losses)/Gains
Assets
 
 
 
 
 
 
 
 
 
Mortgage loans held for sale
 
 
 
 
 
 
 
 
 
Loan sale commitments
2018
 
$
428

 
$
6.9

 
(3.7
)
 
10.5

Derivative financial instruments
 
 
 
 
 
 
 
 
 
IRLCs
2018
 
1,765

 
57.8

 
(1.8
)
 
0.4

Forward sales of MBS
2018
 
3,040

 
12.2

 
9.0

 
0.9

LPCs
2018
 
228

 
1.7

 
0.5

 
0.3

Treasury futures(1)
2018
 
65

 
—

 
—

 
(1.8
)
Eurodollar futures(1)
2018-2021
 
20

 
—

 
—

 
—

Liabilities
 
 
 
 
 
 
 
 
 
Derivative financial instruments
 
 
 
 
 
 
 
 
 
IRLCs(1)
2018
 
3

 
—

 
—

 
—

Forward sales of MBS
2018
 
413

 
0.5

 
(1.4
)
 
(1.0
)
LPCs
2018
 
320

 
1.5

 
0.9

 
0.1

Treasury futures
2018
 
53

 
0.1

 
0.1

 
(1.3
)
Eurodollar futures(1)
2020-2021
 
6

 
—

 
—

 
—



 
 
 
Predecessor
 
 
 
September 30, 2017
 
Nine Months Ended September 30, 2017
 
Expiration
Dates
 
Outstanding
Notional
 
Fair
Value
 
Recorded Gains/(Losses)
Assets
 
 
 
 
 
 
 
Mortgage loans held for sale
 
 
 
 
 
 
 
Loan sale commitments(1)
2017
 
$
1

 
$
0.1

 
$
—

Derivative financial instruments
 
 
 
 
 
 
 
IRLCs
2017
 
2,531

 
68.7

 
(23.5
)
Forward sales of MBS
2017
 
2,524

 
4.7

 
(34.5
)
LPCs
2017
 
132

 
1.0

 
(0.9
)
Treasury futures
2017
 
255

 
2.0

 
2.0

Eurodollar futures(1)
2017-2021
 
11

 
—

 
—

Interest rate swaps(1)
2017
 
—

 
—

 
(0.1
)
Liabilities
 
 
 
 
 
 
 
Derivative financial instruments
 
 
 
 
 
 
 
IRLCs(1)
2017
 
7

 
—

 
1.1

Forward sales of MBS
2017
 
1,137

 
3.2

 
6.8

LPCs
2017
 
335

 
1.2

 
0.3

Treasury futures
2017
 
479

 
2.0

 
(2.0
)
Eurodollar futures(1)
2017-2021
 
45

 
—

 
—

Interest rate swaps(1)
2017
 
—

 
—

 
0.1


(1) Fair values or recorded gains/(losses) of derivative instruments are less than $0.1 for the specified dates.