Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) on continuing operations were as follows:

	Successor			Predecessor
	For the Period August 1 - December 31, 2018			For the Period January 1 - July 31, 2018			Year ended December 31, 2017			Year ended December 31, 2016
Current Income Taxes
Federal	$	—		$	(14	)	$	52		$	14
State	—			(1		)	7			4
Total current income taxes	—			(15		)	59			18
Deferred Income Taxes
Federal	(1,015		)	54			(43		)	(4		)
State	(6		)	9			(3		)	(1		)
Total deferred income taxes	(1,021		)	63			(46		)	(5		)
Total provision for income taxes	$	(1,021	)	$	48		$	13		$	13

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense differs from the amounts computed by applying the U.S. federal corporate tax rate of 21.0% as follows for the years indicated.

	Successor					Predecessor
	For the Period August 1 - December 31, 2018					For the Period January 1 - July 31, 2018					Year ended December 31, 2017					Year ended December 31, 2016
Tax (Benefit) Expense at Federal Statutory Rate	$	(29	)	21.0	%	$	42		21.0	%	$	15		35.0	%	$	10		35.0	%
Effect of:
State taxes, net of federal benefit	(6		)	4.2	%	8			3.8	%	1			1.9	%	1			5.0	%
Non-controlling interests	—			—	%	—			—	%	—			(0.3	)%	1			3.4	%
Decrease of federal valuation allowance	(990		)	720.0	%	—			—	%	(1		)	(1.2	)%	—			—	%
Deferred adjustments	3			(1.8	)%	(1		)	(0.5	)%	—			—	%	1			2.3	%
Federal tax reform impact	—			—	%	—			—	%	(5		)	(12.6	)%	—			—	%
Current payable adjustments	—			—	%	(1		)	(0.5	)%	—			—	%	1			1.9	%
Adjustments related to uncertain tax positions	—			—	%	—			—	%	1			2.4	%	—			—	%
Other, net	1			(1.0	)%	—			—	%	2			3.7	%	(1		)	(2.4	)%
Total income tax (benefit) expense	$	(1,021	)	742.4	%	$	48		23.8	%	$	13		28.9	%	$	13		45.2	%

Schedule of Deferred Tax Assets and Liabilities

Temporary differences and carryforwards that give rise to deferred tax assets and liabilities are comprised of the following:

	Successor			Predecessor
	December 31, 2018			December 31, 2017
Deferred Tax Assets
Effect of:
Loss carryforwards (federal, state and capital)	$	1,334		$	37
Excess interest expense	10			—
Reverse mortgage interests	68			—
Loss reserves	69			81
Reverse mortgage premiums	1			15
Rent expense	1			4
Restricted share based compensation	1			6
Accruals	14			10
Partnership interests	7			5
Reverse mortgage purchase discount	1			24
Goodwill and intangible assets	4			—
Other, net	5			3
Total deferred tax assets	1,515			185
Deferred Tax Liabilities
MSR amortization and mark-to-market, net	(243		)	(174		)
Depreciation and amortization, net	(12		)	(20		)
Prepaid assets	(1		)	(2		)
Goodwill and intangible assets	—			(1		)
Total deferred tax liabilities	(256		)	(197		)
Valuation allowance	(295		)	(4		)
Net deferred tax assets (liabilities)	$	964		$	(16	)

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits, excluding interest and penalties.

	Successor		Predecessor
Unrecognized Tax Benefits	For the Period August 1 - December 31, 2018		For the Period January 1 - July 31, 2018			Year ended December 31, 2017			Year ended December 31, 2016
Balance - beginning of period	$	—	$	17		$	—		$	—
Increases in tax positions of current year	—		—			1			—
Increases in tax positions of prior years	—		—			20			—
Decreases in tax positions of prior years	—		(17		)	—			—
Settlements	—		—			(4		)	—
Balance - end of period	$	—	$	—		$	17		$	—