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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
5 Months Ended 7 Months Ended 12 Months Ended
Dec. 31, 2018
Jul. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating Activities        
Net income attributable to Successor/Predecessor $ 884      
Adjustments to reconcile net income to net cash attributable to operating activities:        
Provision for deferred income taxes (1,021)      
Net income (loss) attributable to non-controlling interests 0      
Net gain on mortgage loans held for sale (176)      
Interest income on reverse mortgage interests (206)      
(Gain) loss on sale of assets 0      
Loss on impairment of assets 0      
MSL related increased obligation 0      
Provision for servicing reserves 38      
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities 225      
Fair value changes in excess spread financing 5      
Fair value changes in mortgage servicing rights financing liability 6      
Fair value changes in mortgage loans held for investment (2)      
Amortization of premiums, net of discount accretion 9      
Depreciation and amortization for property and equipment and intangible assets 39      
Share-based compensation 2      
Other loss 0      
Repurchases of forward loan assets out of Ginnie Mae securitizations (527)      
Mortgage loans originated and purchased for sale, net of fees (8,888)      
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment 9,405      
Excess tax (deficiency) benefit from share based compensation 0      
Changes in assets and liabilities:        
Advances and other receivables, net 43      
Reverse mortgage interests, net 1,544      
Other assets (61)      
Payables and accrued liabilities (68)      
Net cash attributable to operating activities 1,251      
Investing Activities        
Acquisition, net of cash acquired (33)      
Property and equipment additions, net of disposals (15)      
Purchase of forward mortgage servicing rights, net of liabilities incurred (307)      
Net payment related to acquisition of HECM related receivables 0      
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables 0      
Proceeds on sale of forward and reverse mortgage servicing rights 105      
Proceeds on sale of assets 0      
Purchase of cost-method investments 0      
Net cash attributable to investing activities (250)      
Financing Activities        
Increase (decrease) in warehouse facilities (351)      
Increase (decrease) in advance facilities 45      
Proceeds from issuance of HECM securitizations 343      
Repayment of HECM securitizations (374)      
Proceeds from issuance of participating interest financing in reverse mortgage interests 112      
Repayment of participating interest financing in reverse mortgage interests (943)      
Proceeds from issuance of excess spread financing 255      
Repayment of excess spread financing (38)      
Settlement of excess spread financing (77)      
Repayment of nonrecourse debt - legacy assets (6)      
Repurchase of unsecured senior notes 0      
Redemption and repayment of unsecured senior notes (1,030)      
Repurchase of common stock 0      
Proceeds from non-controlling interests 3      
Excess tax deficiency from share based compensation 0      
Surrender of shares relating to stock vesting 0      
Debt financing costs (2)      
Dividends to non-controlling interests 0      
Net cash attributable to financing activities (2,063)      
Net (decrease) increase in cash and cash equivalents (1,062)      
Cash and cash equivalents - beginning of year 1,623      
Cash and cash equivalents - end of year 561 $ 1,623    
Supplemental Disclosures of Cash Activities        
Cash paid for interest expense 283      
Net cash (refunded) paid for income taxes (37)      
Predecessor        
Operating Activities        
Net income attributable to Successor/Predecessor   154 $ 30 $ 19
Adjustments to reconcile net income to net cash attributable to operating activities:        
Provision for deferred income taxes   63 (46) (5)
Net income (loss) attributable to non-controlling interests   0 1 (3)
Net gain on mortgage loans held for sale   (295) (607) (793)
Interest income on reverse mortgage interests   (274) (490) (344)
(Gain) loss on sale of assets   (9) (8) 2
Loss on impairment of assets   0 0 25
MSL related increased obligation   59 0 0
Provision for servicing reserves   70 148 108
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities   (177) 430 484
Fair value changes in excess spread financing   81 12 25
Fair value changes in mortgage servicing rights financing liability   16 (17) (42)
Fair value changes in mortgage loans held for investment   0 0 0
Amortization of premiums, net of discount accretion   8 82 64
Depreciation and amortization for property and equipment and intangible assets   33 59 63
Share-based compensation   17 17 21
Other loss   3 6 0
Repurchases of forward loan assets out of Ginnie Mae securitizations   (544) (1,249) (1,432)
Mortgage loans originated and purchased for sale, net of fees   (12,328) (19,159) (20,410)
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment   13,392 20,776 22,031
Excess tax (deficiency) benefit from share based compensation   0 (1) 4
Changes in assets and liabilities:        
Advances and other receivables, net   377 (30) 582
Reverse mortgage interests, net   1,601 1,672 572
Other assets   (41) (75) (25)
Payables and accrued liabilities   88 (192) 26
Net cash attributable to operating activities   2,294 1,359 972
Investing Activities        
Acquisition, net of cash acquired   0 0 0
Property and equipment additions, net of disposals   (40) (42) (62)
Purchase of forward mortgage servicing rights, net of liabilities incurred   (134) (63) (144)
Net payment related to acquisition of HECM related receivables   (1) 0 0
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables   0 16 (3,600)
Proceeds on sale of forward and reverse mortgage servicing rights   0 71 68
Proceeds on sale of assets   13 16 0
Purchase of cost-method investments   0 (4) 0
Net cash attributable to investing activities   (162) (6) (3,738)
Financing Activities        
Increase (decrease) in warehouse facilities   (585) 863 529
Increase (decrease) in advance facilities   (305) (241) (550)
Proceeds from issuance of HECM securitizations   759 707 728
Repayment of HECM securitizations   (448) (572) (713)
Proceeds from issuance of participating interest financing in reverse mortgage interests   208 575 4,124
Repayment of participating interest financing in reverse mortgage interests   (1,599) (2,597) (1,185)
Proceeds from issuance of excess spread financing   70 0 155
Repayment of excess spread financing   (3) (23) (198)
Settlement of excess spread financing   (105) (207) 0
Repayment of nonrecourse debt - legacy assets   (7) (15) (18)
Repurchase of unsecured senior notes   (62) (123) (40)
Redemption and repayment of unsecured senior notes   0 0 0
Repurchase of common stock   0 0 (114)
Proceeds from non-controlling interests   0 0 0
Excess tax deficiency from share based compensation   0 0 (4)
Surrender of shares relating to stock vesting   (9) (4) (3)
Debt financing costs   (24) (13) (13)
Dividends to non-controlling interests   (1) (5) 0
Net cash attributable to financing activities   (2,111) (1,655) 2,698
Net (decrease) increase in cash and cash equivalents   21 (302) (68)
Cash and cash equivalents - beginning of year $ 596 575 877 945
Cash and cash equivalents - end of year   596 575 877
Supplemental Disclosures of Cash Activities        
Cash paid for interest expense   417 765 694
Net cash (refunded) paid for income taxes   $ 36 $ 102 $ 17