Document

Net (loss) income attributable to Successor/Predecessor

$ (273)

$ 218

Adjustments to reconcile net (loss) income to net cash attributable to operating activities:

Net loss attributable to non-controlling interests

(76)

(1)

(428)

(251)

(167)

(237)

(9)

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

695

(155)

Fair value changes in mortgage servicing rights financing liability

(74)

Fair value changes in mortgage loan held for investment

(3)

Amortization of premiums, net of discount accretion

(25)

Depreciation and amortization for property and equipment and intangible assets

Repurchases of forward loan assets out of Ginnie Mae securitizations

(715)

(475)

Mortgage loans originated and purchased for sale, net of fees

(15,727)

(10,639)

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

15,429

11,500

249

355

1,056

1,326

Payables and other liabilities

(118)

(52)

1,869

(85)

Purchase of forward mortgage servicing rights, net of liabilities incurred

(27)

(31)

(409)

(123)

(1)

Proceeds on sale of forward and reverse mortgage servicing rights

279

(242)

(142)

Increase (decrease) in warehouse facilities

1,173

(199)

(40)

(339)

(294)

398

443

Proceeds from issuance of participating interest financing in reverse mortgage interests

(434)

(423)

156

184

Repayment of participating interest financing in reverse mortgage interests

(1,004)

(1,368)

Proceeds from the issuance of excess spread financing

437

(12)

(2)

(107)

(91)

(6)

(62)

(2)

(2)

(6)

(1)

(7)

(1)

Net decrease in cash, cash equivalents, and restricted cash

282

(1,807)

(12)

(80)

Cash, cash equivalents, and restricted cash - beginning of period

561

575

Cash, cash equivalents, and restricted cash - end of period

^[1]

549

495

Supplemental Disclosures of Cash Activities

Cash paid for interest expense

373

Net cash (refunded) paid for income taxes

$ (1)

$ 36

[1]

XML 24 R7.htm IDEA: XBRL DOCUMENT

Unaudited Consolidated Statements of Cash Flows - Supplemental Information - USD ($)
$ in Millions

Jun. 30, 2019

Dec. 31, 2018

Jun. 30, 2018

Dec. 31, 2017

Statement of Cash Flows [Abstract]

Cash and cash equivalents

$ 245

$ 242

$ 185

Restricted cash

304

319

310

Total cash, cash equivalents, and restricted cash

$ 549

^[1]

$ 561

$ 495

^[1]

$ 575

[1]

XML 25 R8.htm IDEA: XBRL DOCUMENT

Nature of Business and Basis of Presentation	6 Months Ended
Nature of Business and Basis of Presentation	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Basis of Presentation	1. Nature of Business and Basis of Presentation Nature of Business Mr. Cooper Group Inc., collectively with its consolidated subsidiaries, (“Mr. Cooper”, the “Company”, “we”, “us” or “our”) provides servicing, origination and transaction-based services related to single family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper is one of the largest home loan originators and servicers in the country focused on delivering a variety of servicing and lending products, services and technologies. Xome provides real estate data as well as a range of services including real estate brokerage, title, closing, valuation and field services to lenders, investors and consumer. The Company’s corporate website is located at www.mrcoopergroup.com. Mr. Cooper, which was previously known as WMIH Corp. (“WMIH”), is a corporation duly organized and existing under the laws of the State of Delaware since May 11, 2015. On July 31, 2018, Wand Merger Corporation (“Merger Sub”), a wholly-owned subsidiary of WMIH merged with and into Nationstar Mortgage Holdings Inc. (“Nationstar”), with Nationstar continuing as a wholly-owned subsidiary of WMIH (the “Merger”). Prior to the Merger, WMIH had limited operations other than its reinsurance business that operated in runoff mode. As a result of the Merger, shares of Nationstar common stock were delisted from the New York Stock Exchange. Following the Merger closing, the combined company traded on NASDAQ under the ticker symbol “WMIH” until October 10, 2018, when WMIH changed its name to “Mr. Cooper Group Inc.” and its ticker symbol to “COOP”. Basis of Presentation For the purpose of financial statement presentation, Mr. Cooper was determined to be the accounting acquirer in the Merger, and Nationstar’s assets and liabilities were recorded at estimated fair value as of the acquisition date. Mr. Cooper’s interim consolidated financial statements for periods following the Merger closing are labeled “Successor” and reflect the acquired assets and liabilities from Nationstar. Under Securities and Exchange Commission (“SEC”) rules, when a registrant succeeds to substantially all of the business of another entity and the registrant’s own operations before the succession appear insignificant relative to the operations assumed or acquired, the registrant is required to present financial information for the acquired entity (the “Predecessor”) for all comparable periods being presented before the acquisition. Due to the acquisition, the Predecessor and Successor financial statements have been prepared on different basis of accounting and are therefore not comparable. Pursuant to the Merger, Nationstar is considered the predecessor company. Therefore, the Company is providing additional information in the accompanying unaudited condensed consolidated financial statements regarding Nationstar’s business for periods prior to July 31, 2018. The predecessor company financial information in this report is labeled “Predecessor” in these consolidated interim financial statements. The consolidated interim financial statements of the Company and Predecessor have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the SEC. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Reports on Form 10-K for the year ended December 31, 2018. Upon the consummation of the Merger, the Company adopted the significant accounting policies that were implemented by Nationstar and applied to the Predecessor’s financial statements, as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The interim consolidated financial statements are unaudited; however, in the opinion of management, all adjustments, consisting of normal recurring items, considered necessary for a fair presentation of the results of the interim periods have been included. Dollar amounts are reported in millions, except per share data and other key metrics, unless otherwise noted. The Company evaluated subsequent events through the date these interim consolidated financial statements were issued. Basis of Consolidation The basis of consolidation described below was adopted by Nationstar and applied to the Predecessor financial statements for the periods impacted by the adoption. The Successor’s financial statements reflect the adoption of such standards. The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, other entities in which the Company has a controlling financial interest and those variable interest entities (“VIE”) where the Company’s wholly-owned subsidiaries are the primary beneficiaries. Assets and liabilities of VIEs and their respective results of operations are consolidated from the date that the Company became the primary beneficiary through the date the Company ceases to be the primary beneficiary. The Company applies the equity method of accounting to investments where it is able to exercise significant influence, but not control, over the policies and procedures of the entity and owns less than 50% of the voting interests. Investments in certain companies over which the Company does not exert significant influence are accounted for as cost method investments. Intercompany balances and transactions on consolidated entities have been eliminated. Business combinations are included in the consolidated financial statements from their respective dates of acquisition. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates due to factors such as adverse changes in the economy, changes in interest rates, secondary market pricing for loans held for sale and derivatives, strength of underwriting and servicing practices, changes in prepayment assumptions, declines in home prices or discrete events adversely affecting specific borrowers, and such differences could be material. Recent Accounting Guidance Adopted Accounting Standards Update No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), No.2018-10, Codification Improvements to Topic 842, Leases (“ASU 2018-10”), and No. 2018-11, Leases (Topic 842): Targeted Improvements (“ASU 2018-11”), primarily impact lessee accounting by requiring the recognition of a right-of-use asset and a corresponding lease liability on the balance sheet for long-term lease agreements. ASU 2016-02 was effective for the Company on January 1, 2019. ASU 2016-02 provides for a modified retrospective transition approach requiring lessees to recognize and measure leases on the balance sheet at the beginning of either the earliest period presented or as of the beginning of the period of adoption with the option to elect certain practical expedients. The Company has elected to apply ASU 2016-02 as of the beginning of the period of adoption (January 1, 2019) and has not restated comparative periods. The Company elected the package of practical expedients, which, among other items, permits the Company not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company also elected the short-term lease recognition exemption for all leases that qualify. Under this practical expedient, for those leases that qualify, the Company does not recognize right-of-use (“ROU”) assets or lease liabilities, which includes not recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. The Company also elected the practical expedient to not separate lease and non-lease components for all of our leases. The Company did not elect the use-of-hindsight practical expedient. As a result of implementing ASU 2016-02, the Company recognized an operating lease ROU asset of $114 and an operating lease liability of $124 on January 1, 2019, with no impact on its consolidated statement of operations. The ROU asset and operating lease liability are recorded in other assets, and payables and other liabilities, respectively, in the consolidated balance sheets. See Note 7, Leases for additional information. Accounting Standards Update No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40 - Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" (“ASU 2018-15”) aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 will be effective for the Company on January 1, 2020. Early adoption is permitted, including adoption in any interim period. In the first quarter of 2019, the Company early adopted ASU 2018-15. The standard did not have a material impact to the Company’s consolidated financial statements. Recent Accounting Guidance Not Yet Adopted Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”), requires expected credit losses for financial instruments held at the reporting date to be measured based on historical experience, current conditions and reasonable and supportable forecasts. The update eliminates the probable initial recognition threshold in current GAAP and instead reflects an entity’s current estimate of all expected credit losses over the life of the asset. Previously, when credit losses were measured under GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. ASU 2016-13 is effective for interim periods beginning after December 15, 2019. The Company is currently evaluating the potential impact of ASU 2016-13 on its consolidated financial statements. As part of the evaluation process, the Company has performed a scoping analysis, developed a detailed project plan, and is currently in process of completing documentation. The Company has also formed an internal committee from various internal departments to assist in the documentation and review of such documentation regarding the implementation of the new standard. Accounting Standards Update No. 2018-13, Fair Value Measurement (Topic 820) - Changes to the Disclosure Requirements for Fair Value Measurement, (“ASU 2018-13”) removes the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 fair value measurement methodologies, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements. It also adds a requirement to disclose changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 measurements. For certain unobservable inputs, entities may disclose other quantitative information in lieu of the weighted average if the other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 will be effective for the Company on January 1, 2020. The Company is currently evaluating the potential impact of ASU 2018-13 on its consolidated financial statements.

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Acquisitions

6 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Acquisitions

2. Acquisitions

Acquisition of Pacific Union Financial, LLC



Estimated Fair Value of Net Assets Acquired ⁽¹⁾:
Cash and cash equivalents	$	37
Restricted cash	2
Mortgage servicing rights	271
Advances and other receivables	84
Mortgage loans held for sale	536
Mortgage loans held for investment	1
Property and equipment	8
Other assets	483
Fair value of assets acquired	1,422
Notes payable⁽²⁾	294
Advance facilities	13
Warehouse facilities	393
Payables and other liabilities	530
Other nonrecourse debt	129
Fair value of liabilities assumed	1,359
Total fair value of net tangible assets acquired	63
Intangible assets:
Customer relationships⁽³⁾	13
Goodwill	40
Preliminary purchase price	$	116


⁽¹⁾	Estimated Fair Value of Net Assets Acquired is subject to change due to dispute of purchase price.


⁽²⁾	Notes payable was subsequently paid off in February 2019 after the consummation of the acquisition.


⁽³⁾	The estimated fair values for customer relationships were measured using the excess earnings method and were determined to have a remaining useful life of 10 years.



	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Pro forma total revenues	$	399		$	668

Pro forma net loss	$	(87	)	$	(271	)

Acquisition of Nationstar Mortgage Holdings Inc.

Upon closing the Merger, all outstanding WMIH Series B Preferred Stock and all outstanding warrants to purchase shares of WMIH common stock were converted into common stock of WMIH.

The table below presents the calculation of aggregate purchase price.



Purchase Price:
Converted WMIH common shares (prior to reverse stock split) in millions	394
Price per share, based on price of $1.398 for WMIH stock on July 31, 2018	$	1.398
Purchase price from common stock issued	551
Purchase price from cash payment	1,226
Total purchase price	$	1,777

The final allocation of the purchase price to the acquired assets and liabilities is as follows:



Final Estimated Fair Value of Net Assets Acquired:
Cash and cash equivalents	$	166
Restricted cash	430
Mortgage servicing rights	3,422
Advances and other receivables	1,262
Reverse mortgage interests	9,189
Mortgage loans held for sale	1,514
Mortgage loans held for investment	125
Property and equipment	96
Other assets	610
Fair value of assets acquired	16,814
Unsecured senior notes	1,830
Advance facilities	551
Warehouse facilities	2,701
Payables and other liabilities	1,352
MSR related liabilities—nonrecourse	1,065
Mortgage servicing liabilities	123
Other nonrecourse debt	7,583
Fair value of liabilities assumed	15,205
Total fair value of net tangible assets acquired	1,609
Intangible assets⁽¹⁾	103
Goodwill	65
Purchase price	$	1,777


⁽¹⁾	The following intangible assets were acquired in the Nationstar acquisition.



	Useful Life (Years)	Fair Value
Customer relationships⁽ⁱ⁾	6	$	61
Tradename⁽ⁱⁱ⁾	5	8
Technology⁽ⁱⁱ⁾	3-5	11
Internally developed software⁽ⁱⁱⁱ⁾	2	23
Total		$	103


⁽ⁱ⁾	The estimated fair values for customer relationships were measured using the excess earnings method.


⁽ⁱⁱ⁾	The estimated fair values for tradename and technology were measured using the relief-from-royalty method. This method assumes the tradename and technology have value to the extent the owner is relieved of the obligation to pay royalties for the benefits received from these assets.


⁽ⁱⁱⁱ⁾	The estimated fair values for internally developed software were measured using the replacement cost method.

Acquisition of Assurant Mortgage Solutions (“AMS”)

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Mortgage Servicing Rights ("MSRs") and Related Liabilities

6 Months Ended

Jun. 30, 2019

Transfers and Servicing [Abstract]

Mortgage Servicing Rights (MSRs) and Related Liabilities

3. Mortgage Servicing Rights and Related Liabilities

The following table sets forth the carrying value of the Company’s mortgage servicing rights (“MSRs”) and the related liabilities.



	Successor
MSRs and Related Liabilities	June 30, 2019		December 31, 2018
Forward MSRs - fair value	$	3,505	$	3,665
Reverse MSRs - amortized cost	6		11
Mortgage servicing rights	$	3,511	$	3,676

Mortgage servicing liabilities - amortized cost	$	80	$	71

Excess spread financing - fair value	$	1,429	$	1,184
Mortgage servicing rights financing - fair value	43		32
MSR related liabilities - nonrecourse at fair value	$	1,472	$	1,216

Mortgage Servicing Rights

The following table sets forth the activities of forward MSRs.



	Successor			Predecessor
MSRs - Fair Value	Six Months Ended June 30, 2019			Six Months Ended June 30, 2018
Fair value - beginning of period	$	3,665		$	2,937
Additions:
Servicing retained from mortgage loans sold	169			139
Purchases of servicing rights⁽¹⁾	689			132
Dispositions:
Sales of servicing assets	(294		)	4
Changes in fair value:
Changes in valuation inputs or assumptions used in the valuation model	(542		)	283
Other changes in fair value	(182		)	(139		)
Fair value - end of period	$	3,505		$	3,356

⁽¹⁾

The following table provides a breakdown of credit sensitive and interest sensitive unpaid principal balance (“UPB”) for the Company’s forward MSRs.



	Successor
	June 30, 2019				December 31, 2018
MSRs - Sensitivity Pools	UPB		Fair Value		UPB		Fair Value
Credit sensitive	$	167,381	$	1,797	$	135,752	$	1,495
Interest sensitive	148,631		1,708		159,729		2,170
Total	$	316,012	$	3,505	$	295,481	$	3,665

The Company used the following key weighted-average inputs and assumptions in estimating the fair value of MSRs.



	Successor
	June 30, 2019		December 31, 2018
Credit Sensitive
Discount rate	10.6	%	11.3	%
Prepayment speeds	13.5	%	11.8	%
Average life	5.9 years		6.4 years

Interest Sensitive
Discount rate	8.9	%	9.3	%
Prepayment speeds	13.9	%	10.0	%
Average life	5.6 years		7.0 years

Total MSR Portfolio
Discount rate	9.7	%	10.2	%
Prepayment speeds	13.7	%	10.8	%
Average life	5.8 years		6.7 years

The following table shows the hypothetical effect on the fair value of the Successor’s MSRs when applying certain unfavorable variations of key assumptions to these assets for the dates indicated.



	Successor
	Discount Rate						Total Prepayment Speeds
MSRs - Hypothetical Sensitivities	100 bps Adverse Change			200 bps Adverse Change			10% Adverse Change			20% Adverse Change
June 30, 2019
Mortgage servicing rights	$	(127	)	$	(245	)	$	(169	)	$	(325	)

December 31, 2018
Mortgage servicing rights	$	(137	)	$	(265	)	$	(129	)	$	(250	)

Reverse Mortgage Servicing Rights and Liabilities - Amortized Cost

Excess Spread Financing - Fair Value

The Company used the following weighted-average assumptions in the Company’s valuation of excess spread financing.



	Successor
	June 30, 2019		December 31, 2018
Excess Spread Financing
Discount rate	9.6	%	10.4	%
Prepayment speeds	13.1	%	11.0	%
Recapture rate	20.2	%	18.6	%
Average life	5.7 years		6.5 years



	Successor
	Discount Rate				Prepayment Speeds
Excess Spread Financing - Hypothetical Sensitivities	100 bps Adverse Change		200 bps Adverse Change		10% Adverse Change		20% Adverse Change
June 30, 2019
Excess spread financing	$	53	$	111	$	58	$	121

December 31, 2018
Excess spread financing	$	47	$	99	$	38	$	81

Mortgage Servicing Rights Financing - Fair Value

The following table sets forth the weighted average assumptions used in the valuation of the mortgage servicing rights financing liability.



	Successor
Mortgage Servicing Rights Financing Assumptions	June 30, 2019		December 31, 2018
Advance financing rates	3.7	%	4.2	%
Annual advance recovery rates	19.3	%	19.0	%

Mortgage Servicing Rights - Revenues

The following table sets forth the items comprising revenues associated with servicing loan portfolios.



	Successor						Predecessor
Servicing Revenue	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019			Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
Contractually specified servicing fees⁽¹⁾	$	307		$	588		$	245		$	495
Other service-related income⁽¹⁾⁽²⁾	32			82			28			56
Incentive and modification income⁽¹⁾	10			17			18			33
Late fees⁽¹⁾	27			52			22			46
Reverse servicing fees	8			17			14			33
Mark-to-market adjustments⁽³⁾	(231		)	(524		)	19			171
Counterparty revenue share⁽⁴⁾	(70		)	(118		)	(50		)	(95		)
Amortization, net of accretion⁽⁵⁾	(56		)	(79		)	(48		)	(96		)
Total servicing revenue	$	27		$	35		$	248		$	643


⁽¹⁾	Amounts include subservicing related revenues.


⁽²⁾	Amount for the six months ended June 30, 2019 includes a gain of $21 from the execution of a clean-up call option on a reverse mortgage loan trust, as the Company was the master servicer and holder of clean-up call rights.

⁽³⁾


⁽⁴⁾	Counterparty revenue share represents the excess servicing fee that the Company pays to the counterparties under the excess spread financing arrangements and the payments made associated with MSRs financing arrangements.

⁽⁵⁾

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Advances and Other Receivables, Net

6 Months Ended

Jun. 30, 2019

Receivables [Abstract]

Advances and Other Receivables, Net

4. Advances and Other Receivables, Net

Advances and other receivables, net consists of the following.



	Successor
	June 30, 2019			December 31, 2018
Servicing advances, net of $156 and $205 discount, respectively	$	878		$	1,000
Receivables from agencies, investors and prior servicers, net of $48 and $48 discount, respectively	220			241
Reserves	(98		)	(47		)
Total advances and other receivables, net	$	1,000		$	1,194

The Company estimates and records an asset for estimated recoveries to be collected from prior servicers for their respective portion of the losses associated with the underlying loans that were not serviced in accordance with established guidelines. Receivables from prior servicers totaled $96 and $94 for Company’s forward loan portfolio at June 30, 2019 and December 31, 2018, respectively.

The following table sets forth the activities of the reserves for advances and other receivables.



	Successor						Predecessor
Reserves for Advances and Other Receivables	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019			Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
Balance - beginning of period	$	71		47			$	277		$	284
Provision and other additions⁽¹⁾	37			67			38			60
Write-offs	(10		)	(16		)	(21		)	(50		)
Balance - end of period	$	98		$	98		$	294		$	294

⁽¹⁾

Purchase Discount for Advances and Other Receivables

As of June 30, 2019, a total of $117 purchase discount has been utilized with $204 purchase discount remaining.

The following table sets forth the activities of the purchase discounts for advances and other receivables.



	Successor
	Three Months Ended June 30, 2019					Six Months Ended June 30, 2019
Purchase Discounts	Servicing Advances			Receivables from Agencies, Investors and Prior Servicers		Servicing Advances			Receivables from Agencies, Investors and Prior Servicers
Balance - beginning of period	$	169		$	48	$	205		$	48
Addition from acquisition	—			—		19			—
Utilization of purchase discounts	(13		)	—		(68		)	—
Balance - end of period	$	156		$	48	$	156		$	48

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Reverse Mortgage Interests, Net

6 Months Ended

Jun. 30, 2019

Reverse Mortgage Interests [Abstract]

Reverse Mortgage Interests, Net

5. Reverse Mortgage Interests, Net

Reverse mortgage interests, net consists of the following:



	Successor
Reverse Mortgage Interests, Net	June 30, 2019			December 31, 2018
Participating interests in HECM mortgage-backed securities (“HMBS”), net of $18 and $58 premium, respectively	$	4,952		$	5,664
Other interests securitized, net of $84 and $100 discount, respectively	1,023			1,064
Unsecuritized interests, net of $97 and $122 discount, respectively	1,143			1,219
Reserves	(8		)	(13		)
Total reverse mortgage interests, net	$	7,110		$	7,934

Participating Interests in HMBS

Other Interests Securitized

Unsecuritized Interests

Unsecuritized interests in reverse mortgages consist of the following:



	Successor
	June 30, 2019			December 31, 2018
Repurchased HECM loans (exceeds 98% MCA)	$	896		$	949
HECM related receivables	281			300
Funded borrower draws not yet securitized	48			76
REO-related receivables	15			16
Purchase discount	(97		)	(122		)
Total unsecuritized interests	$	1,143		$	1,219

Reserves for Reverse Mortgage Interests

The activity of the reserves for reverse mortgage interests is set forth below.



	Successor						Predecessor
Reserves for reverse mortgage interests	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019			Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
Balance - beginning of period	$	8		$	13		$	134		$	115
Provision (release), net	2			2			(6		)	20
Write-offs	(2		)	(7		)	(11		)	(18		)
Balance - end of period	$	8		$	8		$	117		$	117

Purchase Discount for Reverse Mortgage Interests

The following table sets forth the activities of the purchase premiums and discounts for reverse mortgage interests.



	Successor
	Three Months Ended June 30, 2019
Purchase premiums and discounts for reverse mortgage interests	Net Premium for Participating Interests in HMBS⁽¹⁾			Net Discount for Other Interest Securitized⁽¹⁾			Net Discount for Unsecuritized Interests⁽¹⁾
Balance - beginning of period	$	36		$	(112	)	$	(95	)
Utilization of purchase discounts	—			7			5
(Amortization)/Accretion	(23		)	28			(9		)
Transfers⁽³⁾	5			(7		)	2
Balance - end of period	$	18		$	(84	)	$	(97	)



	Successor
	Six Months Ended June 30, 2019
Purchase premiums and discounts for reverse mortgage interests	Net Premium for Participating Interests in HMBS⁽¹⁾			Net Discount for Other Interest Securitized⁽¹⁾			Net Discount for Unsecuritized Interests⁽¹⁾
Balance - beginning of period	$	58		$	(100	)	$	(122	)
Adjustments⁽²⁾	(16		)	(2		)	(6		)
Utilization of purchase discounts	—			13			27
(Amortization)/Accretion	(37		)	13			9
Transfers⁽³⁾	13			(8		)	(5		)
Balance - end of period	$	18		$	(84	)	$	(97	)


⁽¹⁾	Net position as certain items are in a premium/(discount) position, based on the characteristics of underlying tranches of loans.


⁽²⁾	Adjustments to premium/(discount) due to revised cost to service assumption utilized in the valuation of reverse mortgage assets and liabilities acquired from the Merger. See Note 2, Acquisitions for additional information.


⁽³⁾	Transfer of premium/(discount) based on the transfer of associated loans between categories consistent with the underlying loan characteristics.



	Predecessor
Purchase discounts for reverse mortgage interests	Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
Balance - beginning of period	$	(90	)	$	(89	)
Additions	—			(7		)
Accretion	6			12
Balance - end of period	$	(84	)	$	(84	)

Reverse Mortgage Interest Income

XML 30 R13.htm IDEA: XBRL DOCUMENT

Mortgage Loans Held for Sale and Investment

6 Months Ended

Jun. 30, 2019

Mortgage Loans Held for Sale and Investment [Abstract]

Mortgage Loans Held for Sale and Investment

6. Mortgage Loans Held for Sale and Investment

Mortgage Loans Held for Sale

Mortgage loans held for sale are recorded at fair value as set forth below.



	Successor
	June 30, 2019		December 31, 2018
Mortgage loans held for sale – UPB	$	3,268	$	1,568
Mark-to-market adjustment⁽¹⁾	154		63
Total mortgage loans held for sale	$	3,422	$	1,631


⁽¹⁾	The mark-to-market adjustment is recorded in net gain on mortgage loans held for sale in the consolidated statements of operations.

The total UPB of mortgage loans held for sale on non-accrual status was as follows:



	Successor
	June 30, 2019				December 31, 2018
Mortgage Loans Held for Sale - UPB	UPB		Fair Value		UPB		Fair Value
Non-accrual⁽¹⁾	$	26	$	24	$	45	$	42


⁽¹⁾	Non-accrual includes $21 and $40 of UPB related to Ginnie Mae repurchased loans as of June 30, 2019 and December 31, 2018, respectively.

The total UPB of mortgage loans held for sale for which the Company has begun formal foreclosure proceedings was $16 and $33 as of June 30, 2019 and December 31, 2018, respectively.

The following table details a roll forward of the change in the account balance of mortgage loans held for sale.



	Successor			Predecessor
Mortgage loans held for sale	Six Months Ended June 30, 2019			Six Months Ended June 30, 2018
Balance - beginning of period	$	1,631		$	1,891
Mortgage loans originated and purchased, net of fees⁽¹⁾	16,257			10,630
Loans sold	(15,203		)	(11,377		)
Repurchase of loans out of Ginnie Mae securitizations	715			475
Transfer of mortgage loans held for sale to advances/accounts receivable, net related to claims⁽²⁾	(7		)	(6		)
Net transfer of mortgage loans held for sale from REO in other assets⁽³⁾	7			12
Changes in fair value	16			1
Other purchase-related activities⁽⁴⁾	6			9
Balance - end of period	$	3,422		$	1,635


⁽¹⁾	Mortgage loans originated and purchased during the six months ended June 30, 2019 includes $536 of loans held for sale that were acquired from Pacific Union. See Note 2, Acquisitions for further discussion.


⁽²⁾	Amounts are comprised of claims made on certain government insured mortgage loans upon completion of the REO sale.


⁽³⁾	Net amounts are comprised of REO in the sales process, which are transferred to other assets, and certain government insured mortgage REO, which are transferred from other assets upon completion of the sale so that the claims process can begin.


⁽⁴⁾	Amounts are comprised primarily of non-Ginnie Mae loan purchases and buyouts.

Mortgage Loans Held for Investment

The following sets forth the composition of mortgage loans held for investment.



	Successor
	June 30, 2019			December 31, 2018
Mortgage loans held for investment – UPB	$	148		$	156
Fair value adjustments	(34		)	(37		)
Total mortgage loans held for investment at fair value	$	114		$	119

The total UPB of mortgage loans held for investment on non-accrual status was as follows.



	Successor
	June 30, 2019				December 31, 2018
Mortgage Loans Held for Investment - UPB	UPB		Fair Value		UPB		Fair Value
Non-accrual	$	21	$	10	$	27	$	13

The following table sets forth the activities of mortgage loans held for investment.



	Successor
Mortgage loans held for investment at fair value	Six Months Ended June 30, 2019
Balance - beginning of period	$	119
Payments received from borrowers	(8		)
Changes in fair value	3
Balance - end of period	$	114

The total UPB of mortgage loans held for investment for which the Company has begun formal foreclosure proceedings was $11 and $15 as of June 30, 2019 and December 31, 2018, respectively.

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Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Leases, Finance

7. Leases

The table below summarizes the Company’s net lease cost:



	Successor
	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Operating lease cost	$	11		$	19
Short-term lease cost⁽¹⁾	—			1
Sublease income	(1		)	(1		)
Net lease cost	$	10		$	19

⁽¹⁾ Amount for three months ended June 30, 2019 is less than $1.

The table below summarizes other information related to the Company’s operating leases:



	Successor
	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7		$	13
Leased assets obtained in exchange for new operating lease liabilities	$	28		$	155
Weighted average remaining lease term - operating leases, in years	5.7			6.1
Weighted average discount rate - operating leases	5.0		%	5.0		%

Maturities of operating lease liabilities as of June 30, 2019 are as follows:



Year Ending December 31,	Operating Leases
2019⁽¹⁾	$	19
2020	40
2021	32
2022	23
2023	18
2024 and thereafter	19
Total minimum lease payments	151
Less: imputed interest	3
Total operating lease liabilities	$	148


⁽¹⁾	Excluding the six months ended June 30, 2019.

Finance lease liability was $4 as of June 30, 2019, the majority of which matures within a year.

Leases, Operating

7. Leases

The table below summarizes the Company’s net lease cost:



	Successor
	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Operating lease cost	$	11		$	19
Short-term lease cost⁽¹⁾	—			1
Sublease income	(1		)	(1		)
Net lease cost	$	10		$	19

⁽¹⁾ Amount for three months ended June 30, 2019 is less than $1.

The table below summarizes other information related to the Company’s operating leases:



	Successor
	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7		$	13
Leased assets obtained in exchange for new operating lease liabilities	$	28		$	155
Weighted average remaining lease term - operating leases, in years	5.7			6.1
Weighted average discount rate - operating leases	5.0		%	5.0		%

Maturities of operating lease liabilities as of June 30, 2019 are as follows:



Year Ending December 31,	Operating Leases
2019⁽¹⁾	$	19
2020	40
2021	32
2022	23
2023	18
2024 and thereafter	19
Total minimum lease payments	151
Less: imputed interest	3
Total operating lease liabilities	$	148


⁽¹⁾	Excluding the six months ended June 30, 2019.

Finance lease liability was $4 as of June 30, 2019, the majority of which matures within a year.

XML 32 R15.htm IDEA: XBRL DOCUMENT

Other Assets

6 Months Ended

Jun. 30, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

8. Other Assets

Other assets consist of the following:



	Successor
	June 30, 2019		December 31, 2018
Loans subject to repurchase from Ginnie Mae	$	723	$	266
Accrued revenues	136		145
Right-of-use assets	139		—
Intangible assets	105		117
Goodwill	120		23
Other	306		244
Total other assets	$	1,529	$	795

Loans Subject to Repurchase Right from Ginnie Mae

Accrued Revenues

Accrued revenues are primarily comprised of service fees earned but not received based upon the terms of the Company’s servicing and subservicing agreements.

Right of Use Assets

Right of use assets are recognized for operating leases as a result of adoption of ASC 842. See Note 7, Leases for additional information.

Goodwill and Intangible Assets

The table below presents changes in the carrying amount of goodwill for the six months ended June 30, 2019.



	Successor
	Six Months Ended June 30, 2019
Balance - beginning of period	$	23
Additions from acquisitions⁽¹⁾	42
Measurement period adjustment related to Merger⁽²⁾	55
Balance - end of period	$	120

⁽¹⁾


⁽²⁾	The Company recorded a total measurement period adjustment of $55 to goodwill in 2019 related to the acquisition of Nationstar. See further discussion in Note 2, Acquisitions.

In 2018, the Company recorded goodwill of $10 and $13 in connection with the acquisitions of Nationstar and Assurant Mortgage Solutions, respectively. See further discussion in Note 2, Acquisitions.

Other

REO includes $12 and $10 of REO-related receivables with government insurance at June 30, 2019 and December 31, 2018, respectively, limiting loss exposure to the Company.

XML 33 R16.htm IDEA: XBRL DOCUMENT

Derivative Financial Instruments

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

9. Derivative Financial Instruments

The following table provides the outstanding notional balances, fair values of outstanding positions and recorded gains/(losses).



		Successor
		June 30, 2019				Six Months Ended June 30, 2019
	Expiration Dates	Outstanding Notional		Fair Value		Recorded Gains/(Losses)
Assets
Mortgage loans held for sale
Loan sale commitments	2019	$	1,659	$	47.0	$	21.1
Derivative financial instruments
IRLCs	2019	3,649		110.2		50.5
Forward sales of MBS	2019	762		1.1		(0.7		)
LPCs	2019	1,327		16.5		14.8
Eurodollar futures⁽¹⁾	2019-2021	8		—		—
Liabilities
Derivative financial instruments
IRLCs⁽¹⁾	2019	4		—		—
Forward sales of MBS	2019	4,932		30.3		6.4
LPCs	2019	212		1.3		0.8
Eurodollar futures⁽¹⁾	2019-2021	12		—		—



		Predecessor
		June 30, 2018				Six Months Ended June 30, 2018
	Expiration Dates	Outstanding Notional		Fair Value		Recorded Gains/(Losses)
Assets
Mortgage loans held for sale
Loan sale commitments	2018	$	368	$	7.2	$	7.1
Derivative financial instruments
IRLCs	2018	1,778		60.2		0.9
Forward sales of MBS	2018	568		0.4		(2.0		)
LPCs	2018	271		1.7		0.8
Treasury futures	2018	35		0.1		(1.8		)
Eurodollar futures⁽¹⁾	2018-2021	22		—		—
Liabilities
Derivative financial instruments
IRLCs⁽¹⁾	2018	1		—		—
Forward sales of MBS	2018	2,710		8.0		5.2
LPCs	2018	185		0.7		0.1
Treasury futures⁽¹⁾	2018	63		—		(1.4		)
Eurodollar futures⁽¹⁾	2020-2021	6		—		—


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

XML 34 R17.htm IDEA: XBRL DOCUMENT

Indebtedness

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Indebtedness

10. Indebtedness

Notes Payable



						Successor
						June 30, 2019					December 31, 2018
Advance Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding			Collateral Pledged		Outstanding		Collateral pledged
Nationstar mortgage advance receivable trust	LIBOR + 1.5% to 6.5%	August 2021	Servicing advance receivables	$	325	$	229		$	290	$	209	$	284
Nationstar agency advance receivable trust	LIBOR + 1.5% to 2.6%	December 2020	Servicing advance receivables	250		162			194		218		255
MBS servicer advance facility (2014)	LIBOR + 2.5%	December 2019	Servicing advance receivables	200		90			131		90		149
Nationstar agency advance financing facility	LIBOR + 1.5% to 7.4%	July 2020	Servicing advance receivables	125		87			99		78		89
Advance facilities principal amount						568			$	714	595		$	777
Unamortized debt issuance costs						(1		)			—
Advance facilities, net						$	567				$	595



						Successor
						June 30, 2019					December 31, 2018
Warehouse Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding			Collateral pledged		Outstanding			Collateral pledged
$1,200 warehouse facility	LIBOR + 1.7% to 3.5%	November 2019	Mortgage loans or MBS	$	1,200	$	715		$	762	$	560		$	622
$1,000 warehouse facility	LIBOR + 1.6% to 2.5%	September 2019	Mortgage loans or MBS	1,000		629			646		137			140
$750 warehouse facility	LIBOR + 1.4% to 2.8%	August 30, 2019	Mortgage loans or MBS	750		416			424		119			122
$800 warehouse facility⁽¹⁾	LIBOR + 1.5% to 2.9%	April 2020	Mortgage loans or MBS	800		531			576		464			514
$600 warehouse facility	LIBOR + 2.3%	February 2020	Mortgage loans or MBS	600		226			258		151			168
$500 warehouse facility	LIBOR + 1.5% to 3.0%	April 2020	Mortgage loans or MBS	500		382			395		187			200
$500 warehouse facility	LIBOR + 1.5% to 2.8%	November 2019	Mortgage loans or MBS	500		377			410		220			248
$500 warehouse facility	LIBOR + 2.0% to 2.3%	September 2020	Mortgage loans or MBS	500		49			51		290			299
$200 warehouse facility	LIBOR + 1.0%	June 2020	Mortgage loans or MBS	200		194			187		—			—
$200 warehouse facility	LIBOR + 1.5%	December 2019	Mortgage loans or MBS	200		107			103		—			—
$200 warehouse facility	LIBOR + 1.5%	October 2019	Mortgage loans or MBS	200		104			103		—			—
$200 warehouse facility	LIBOR + 2.0%	January 2020	Mortgage loans or MBS	200		88			116		103			132
$200 warehouse facility	LIBOR + 1.2%	April 2021	Mortgage loans or MBS	200		32			33		18			19
$50 warehouse facility	LIBOR + 2.7% to 7.5%	April 2020	Mortgage loans or MBS	50		5			7		—			—
$40 warehouse facility	LIBOR + 3.0%	November 2019	Mortgage loans or MBS	40		1			2		1			2
Warehouse facilities principal amount						3,856			4,073		2,250			2,466
MSR Facility
$400 warehouse facility	LIBOR + 3.5% to 6.1%	June 2021	MSR	400		150			786		100			928
$400 warehouse facility	LIBOR + 2.3%	December 2020	MSR	400		25			215		—			226
$150 warehouse facility⁽¹⁾	LIBOR + 2.8%	April 2020	MSR	150		—			121		—			430
$50 warehouse facility	LIBOR + 2.8%	August 2020	MSR	50		15			92		—			102
						190			1,214		100			1,686
Warehouse facilities principal amount						4,046			$	5,287	2,350			$	4,152

Unamortized debt issuance costs						(1		)			(1		)
Warehouse facilities, net						$	4,045				$	2,349

Pledged Collateral:
Mortgage loans and mortgage loans held for investment						$	3,204		$	3,319	$	1,528		$	1,628
Reverse mortgage interests						652			754		722			838
MSR						190			1,214		100			1,686


⁽¹⁾	Total capacity amount for this facility is $800 of which $150 is a sublimit for MSR financing.

Unsecured Senior Notes

Unsecured senior notes consist of the following:



	Successor
	June 30, 2019			December 31, 2018
$950 face value, 8.125% interest rate payable semi-annually, due July 2023	$	950		$	950
$750 face value, 9.125% interest rate payable semi-annually, due July 2026	750			750
$600 face value, 6.500% interest rate payable semi-annually, due July 2021	592			592
$300 face value, 6.500% interest rate payable semi-annually, due June 2022	206			206
Unsecured senior notes principal amount	2,498			2,498
Unamortized debt issuance costs, net of premium, and discount	(36		)	(39		)
Unsecured senior notes, net	$	2,462		$	2,459

As of June 30, 2019, the expected maturities of the Company’s unsecured senior notes based on contractual maturities are as follows:



Year Ending December 31,	Amount
2019	$	—
2020	—
2021	592
2022	206
2023	950
Thereafter	750
Total	$	2,498

Other Nonrecourse Debt

Other nonrecourse debt consists of the following:



						Successor
						June 30, 2019		December 31, 2018
	Issue Date	Maturity Date	Class of Note	Securitized Amount		Outstanding		Outstanding
Participating interest financing⁽¹⁾	—	—	—	$	—	$	4,861	$	5,607
Securitization of nonperforming HECM loans
Trust 2017-2⁽²⁾	September 2017	September 2027	A, M1, M2	—		—		231
Trust 2018-1	March 2018	March 2028	A, M1, M2, M3, M4, M5	252		224		284
Trust 2018-2	August 2018	August 2028	A, M1, M2, M3, M4, M5	198		182		250
Trust 2018-3	November 2018	November 2028	A, M1, M2, M3, M4, M5	284		272		326
Trust 2019-1	June 2019	June 2029	A, M1, M2, M3, M4, M5	398		398		—
Nonrecourse Debt - Legacy	November 2009	October 2039	A	97		22		29
Other nonrecourse debt principal amount						5,959		6,727
Unamortized debt issuance costs, premium, and issuance discount						26		68
Other nonrecourse debt, net						$	5,985	$	6,795


⁽¹⁾	Amounts represent the Company’s participating interest in GNMA HMBS securitized portfolios.


⁽²⁾	As discussed in Note 5, Reverse Mortgage Interests, Net, Trust 2017-2 was extinguished.

Participating Interest Financing

Securitizations of Nonperforming HECM Loans

Nonrecourse Debt – Legacy Assets

Financial Covenants

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Payables and Other Liabilities

6 Months Ended

Jun. 30, 2019

Payables and Accruals [Abstract]

Payables and Other Liabilities

11. Payables and Other Liabilities

Payables and other liabilities consist of the following:



	Successor
	June 30, 2019		December 31, 2018
Loans subject to repurchase from Ginnie Mae	$	723	$	266
Payables to servicing and subservicing investors	625		494
Operating lease liabilities	148		—
Payables to GSEs and securitized trusts	42		105
MSR purchases payable including advances	24		182
Other liabilities	554		496
Total payables and other liabilities	$	2,116	$	1,543

Loans Subject to Repurchase from Ginnie Mae

Payables to Servicing and Subservicing Investors and Payables to GSEs and Securitized Trusts

Operating Lease Liabilities

Operating lease liabilities are recognized as a result of adoption of ASC 842 as of January 1, 2019. See Note 7, Leases for additional information.

MSR Purchases Payable Including Advances

MSR purchases payable including advances represent the amounts owed to the seller in connection with the purchase of MSRs.

Other Liabilities



	Successor						Predecessor
Repurchase Reserves	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019			Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
Balance - beginning of period	$	16		$	8		$	9		$	9
Provisions⁽¹⁾	8			16			2			3
Releases	(1		)	(1		)	(2		)	(3		)
Balance - end of period	$	23		$	23		$	9		$	9


⁽¹⁾	Provision for the six months ended June 30, 2019 is primarily due to repurchase reserve liabilities assumed in connection with the acquisition of Pacific Union. See Note 2, Acquisitions for additional information.

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Securitizations and Financings

6 Months Ended

Jun. 30, 2019

Variable Interest Entities and Securitizations [Abstract]

Securitizations and Financings

12. Securitizations and Financings

Variable Interest Entities (VIE)

A summary of the assets and liabilities of the Company’s transactions with VIEs included in the Company’s consolidated financial statements is presented below.



	Successor
	June 30, 2019				December 31, 2018
	Transfers Accounted for as Secured Borrowings		Reverse Secured Borrowings		Transfers Accounted for as Secured Borrowings		Reverse Secured Borrowings
Assets
Restricted cash	$	59	$	40	$	70	$	63
Reverse mortgage interests, net	—		5,975		—		6,728
Advances and other receivables, net	583		—		628		—
Mortgage loans held for investment, net	113		—		118		—
Other assets	—		9		—		—
Total assets	$	755	$	6,024	$	816	$	6,791

Liabilities
Advance facilities⁽¹⁾	$	478	$	—	$	505	$	—
Payables and other liabilities	1		—		1		1
Participating interest financing	—		4,861		—		5,607
HECM Securitizations (HMBS)
Trust 2017-2	—		—		—		231
Trust 2018-1	—		224		—		284
Trust 2018-2	—		182		—		250
Trust 2018-3	—		272		—		326
Trust 2019-1	—		398		—		—
Nonrecourse debt–legacy assets	22		—		29		—
Total liabilities	$	501	$	5,937	$	535	$	6,699


⁽¹⁾	Advance facilities include the Nationstar agency advance financing facility and notes payable recorded by the Nationstar Mortgage Advance Receivable Trust, and the Nationstar Agency Advance Receivables Trust. Refer to Notes Payable in Note 10, Indebtedness, for additional information.



	Successor
	June 30, 2019		December 31, 2018
Total collateral balances	$	1,752	$	1,873
Total certificate balances	$	1,697	$	1,817

A summary of mortgage loans transferred by the Company to unconsolidated securitization trusts that are 60 days or more past due are presented below.



	Successor
Principal Amount of Loans 60 Days or More Past Due	June 30, 2019		December 31, 2018
Unconsolidated securitization trusts	$	242	$	285

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Stockholders' Equity	6 Months Ended
Stockholders' Equity	Jun. 30, 2019
Equity [Abstract]
Stockholders' Equity	13. Stockholders' Equity Upon the consummation of the Merger, the Company assumed and adopted the Nationstar Mortgage Holdings Inc. Second Amended and Restated 2012 Incentive Compensation Plan (“2012 Plan”), as may be amended, that offers equity-based awards to certain key employees of the Company, consultants, and non-employee directors. Additionally, on May 16, 2019, the Company’s stockholders approved the Mr. Cooper Group Inc. 2019 Omnibus Incentive Plan (the “2019 Plan”) which had previously been approved by the Company’s Board of Directors. The equity-based awards under the 2012 Plan and the 2019 Plan include restricted stock units (“RSUs”) granted to employees of the Company, consultants, and non-employee directors. These awards are valued at the fair market value of the Company’s or the Predecessor’s common stock on the grant date as defined in the 2012 Plan and the 2019 Plan. During the six months ended June 30, 2019 and 2018, certain key employees of the Company, consultants, and non-employee directors of the Company and the Predecessor were granted 2,449 thousand and 1,071 thousand RSUs, respectively, under the 2012 Plan and the 2019 Plan. The stock awards for employees generally vest in installments of 33.3%, 33.3% and 33.4% respectively on each of the first three anniversaries of the awards, provided that (i) the participant remains continuously employed with the Company during that time or (ii) the participant’s employment has terminated by reason of retirement. The stock awards for non-employee directors generally vest the earlier of (a) the first anniversary of the grant date or (b) the date of the next annual stockholders meeting following the grant date. In addition, upon death or disability, the unvested shares of an award will vest. The Company and the Predecessor recorded $5 and $4 of expenses related to equity-based awards during the three months ended June 30, 2019 and 2018, respectively, and $9 and $8 for the six months ended June 30, 2019 and 2018, respectively.

XML 38 R21.htm IDEA: XBRL DOCUMENT

Earnings Per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

14. Earnings Per Share

The following table sets forth the computation of basic and diluted net (loss) income per common share (amounts in millions, except per share amounts).



	Successor						Predecessor
	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019			Three Months Ended June 30, 2018		Six Months Ended June 30, 2018
Net (loss) income attributable to Successor/Predecessor	$	(87	)	$	(273	)	$	58	$	218
Less: Undistributed earnings attributable to participating stockholders	—			—			—		—
Net (loss) income attributable to common stockholders	$	(87	)	$	(273	)	$	58	$	218

Net (loss) income per common share attributable to Successor/Predecessor:
Basic	$	(0.96	)	$	(3.00	)	$	0.59	$	2.22
Diluted	$	(0.96	)	$	(3.00	)	$	0.59	$	2.20

Weighted average shares of common stock outstanding (in thousands):
Basic	91,054			90,978			98,203		98,037
Dilutive effect of stock awards	—			—			927		1,086
Dilutive effect of participating securities	—			—			—		—
Diluted	91,054			90,978			99,130		99,123

XML 39 R22.htm IDEA: XBRL DOCUMENT

Income Taxes

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

15. Income Taxes

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



	Successor						Predecessor
	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019			Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
(Loss) income before income tax (benefit) expense	$	(117	)	$	(350	)	$	79		$	285

Income tax (benefit) expense	$	(29	)	$	(76	)	$	21		$	67

Effective tax rate	24.6		%	21.7		%	26.5		%	23.6		%

XML 40 R23.htm IDEA: XBRL DOCUMENT

Fair Value Measurements

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

16. Fair Value Measurements

The following describes the methods and assumptions used by the Company in estimating fair values:

Cash and Cash Equivalents, Restricted Cash (Level 1) – The carrying amount reported in the consolidated balance sheets approximates fair value.

The following table presents the estimated carrying amount and fair value of the Company’s financial instruments and other assets and liabilities measured at fair value on a recurring basis.



	Successor
	June 30, 2019
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans held for sale⁽¹⁾	$	3,421.6	$	—	$	3,421.6	$	—
Mortgage loans held for investment⁽¹⁾	114.3		—		—		114.3
Mortgage servicing rights⁽¹⁾	3,504.5		—		—		3,504.5
Derivative financial instruments
IRLCs	110.2		—		110.2		—
Forward MBS trades	1.1		—		1.1		—
LPCs	16.5		—		16.5		—
Eurodollar futures⁽²⁾	—		—		—		—
Total assets	$	7,168.2	$	—	$	3,549.4	$	3,618.8
Liabilities
Derivative financial instruments
IRLCs⁽²⁾	$	—	$	—	$	—	$	—
Forward MBS trades	30.3		—		30.3		—
LPCs	1.3		—		1.3		—
Eurodollar futures⁽²⁾	—		—		—		—
Mortgage servicing rights financing	42.6		—		—		42.6
Excess spread financing	1,429.4		—		—		1,429.4
Total liabilities	$	1,503.6	$	—	$	31.6	$	1,472.0


⁽¹⁾	Based on the nature and risks of the underlying assets and liabilities, the fair value is presented for the aggregate account.


⁽²⁾	Fair values of the underlying assets and liabilities are less than $0.1 for the specified dates.



	Successor
	December 31, 2018
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans held for sale⁽¹⁾	$	1,630.8	$	—	$	1,630.8	$	—
Mortgage loans held for investment⁽¹⁾	119.1		—		—		119.1
Forward mortgage servicing rights⁽¹⁾	3,665.4		—		—		3,665.4
Derivative financial instruments
IRLCs	47.6		—		47.6		—
Forward MBS trades	0.1		—		0.1		—
LPCs	1.7		—		1.7		—
Eurodollar futures⁽²⁾	—		—		—		—
Total assets	$	5,464.7	$	—	$	1,680.2	$	3,784.5
Liabilities
Derivative financial instruments
Forward MBS trades	$	19.3	$	—	$	19.3	$	—
LPCs	0.4		—		0.4		—
Eurodollar futures⁽²⁾	—		—		—		—
Mortgage servicing rights financing	31.7		—		—		31.7
Excess spread financing	1,184.4		—		—		1,184.4
Total liabilities	$	1,235.8	$	—	$	19.7	$	1,216.1


⁽¹⁾	Based on the nature and risks of the underlying assets and liabilities, the fair value is presented for the aggregate account.


⁽²⁾	Fair values of the underlying assets and liabilities are less than $0.1 for the specified dates.

The table below presents a reconciliation for all of the Company and Predecessor’s Level 3 assets and liabilities measured at fair value on a recurring basis.



	Successor
	Assets						Liabilities
Six Months Ended June 30, 2019	Mortgage servicing rights			Mortgage loans held for investment			Excess spread financing			Mortgage servicing rights financing
Balance - beginning of period	$	3,665		$	119		$	1,184		$	32
Total gains or losses included in earnings	(724		)	3			(74		)	11
Payments received from borrowers	—			(8		)	—			—
Purchases, issuances, sales, repayments and settlements
Purchases	689			—			—			—
Issuances	169			—			438			—
Sales	(294		)	—			—			—
Repayments	—			—			(12		)	—
Settlements	—			—			(107		)	—
Balance - end of period	$	3,505		$	114		$	1,429		$	43



	Predecessor
	Assets		Liabilities
Six Months Ended June 30, 2018	Mortgage servicing rights		Excess spread financing			Mortgage servicing rights financing
Balance - beginning of period	$	2,937	$	996		$	10
Total gains or losses included in earnings	144		74			6
Purchases, issuances, sales, repayments and settlements
Purchases	132		—			—
Issuances	139		70			—
Sales	4		—			—
Repayments	—		(2		)	—
Settlements	—		(91		)	—
Balance - end of period	$	3,356	$	1,047		$	16

No transfers were made into or out of Level 3 fair value assets and liabilities for the Company and Predecessor for the six months ended June 30, 2019 and 2018, respectively.

The table below presents a summary of the estimated carrying amount and fair value of the Company’s financial instruments.



	Successor
	June 30, 2019
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	245	$	245	$	—	$	—
Restricted cash	304		304		—		—
Advances and other receivables, net	1,000		—		—		1,000
Reverse mortgage interests, net	7,110		—		—		7,176
Mortgage loans held for sale	3,422		—		3,422		—
Mortgage loans held for investment, net	114		—		—		114
Derivative financial instruments	128		—		128		—
Financial liabilities
Unsecured senior notes	2,462		2,529		—		—
Advance facilities	567		—		567		—
Warehouse facilities	4,045		—		4,045		—
Mortgage servicing rights financing liability	43		—		—		43
Excess spread financing	1,429		—		—		1,429
Derivative financial instruments	32		—		32		—
Participating interest financing	4,887		—		—		4,886
HECM Securitization (HMBS)
Trust 2018-1	224		—		—		224
Trust 2018-2	182		—		—		182
Trust 2018-3	272		—		—		272
Trust 2019-1	398		—		—		398
Nonrecourse debt - legacy assets	22		—		—		22



	Successor
	December 31, 2018
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	242	$	242	$	—	$	—
Restricted cash	319		319		—		—
Advances and other receivables, net	1,194		—		—		1,194
Reverse mortgage interests, net	7,934		—		—		7,942
Mortgage loans held for sale	1,631		—		1,631		—
Mortgage loans held for investment, net	119		—		—		119
Derivative financial instruments	49		—		49		—
Financial liabilities
Unsecured senior notes	2,459		2,451		—		—
Advance facilities	595		—		595		—
Warehouse facilities	2,349		—		2,349		—
Mortgage servicing rights financing liability	32		—		—		32
Excess spread financing	1,184		—		—		1,184
Derivative financial instruments	20		—		20		—
Participating interest financing	5,675		—		—		5,672
HECM Securitization (HMBS)
Trust 2017-2	231		—		—		230
Trust 2018-1	284		—		—		284
Trust 2018-2	250		—		—		249
Trust 2018-3	326		—		—		326
Nonrecourse debt - legacy assets	29		—		—		28

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

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Capital Requirements	6 Months Ended
Capital Requirements	Jun. 30, 2019
Mortgage Banking [Abstract]
Capital Requirements	17. Capital Requirements Certain of the Company’s secondary market investors require minimum net worth (“capital”) requirements, as specified in the respective selling and servicing agreements. In addition, these investors may require capital ratios in excess of the stated requirements to approve large servicing transfers. To the extent that these requirements are not met, the Company’s secondary market investors may utilize a range of remedies ranging from sanctions, suspension or ultimately termination of the Company’s selling and servicing agreements, which would prohibit the Company from further originating or securitizing these specific types of mortgage loans or being an approved servicer. Among the Company’s various capital requirements related to its outstanding selling and servicing agreements, which are measured based on the Company’s operating subsidiary, Nationstar Mortgage LLC, the most restrictive of these requires the Company to maintain a minimum adjusted net worth of $856. As of June 30, 2019, the Company was in compliance with its selling and servicing capital requirements.

- Definition

The entire disclosure for a mortgage banking entity related to capital requirements imposed by secondary market investors or state imposed regulatory mandates. The disclosure may include: (1) a description of the minimum net worth requirements related to (a) secondary market investors and (b) state-imposed regulatory mandates; (2) actual or possible material effects of noncompliance; (3) whether the entity is in compliance with the regulatory capital requirements, including (a) the entity's required and actual net worth amounts, (b) factors that may significantly affect adequacy of net worth such as potentially volatile components of capital, qualitative factors, or regulatory mandates; and (4) possible affects of noncompliance on amounts and disclosures in the notes to the financial statements. Servicers with net worth requirements from multiple sources may disclose (1) significant servicing covenants with secondary market investors with commonly defined servicing requirements (2) any other secondary market investor where violation of the requirement would have a significant adverse effect and (3) the most restrictive third party agreement, if not included above. The disclosure may also include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time.

+ References + Details

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Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. Commitments and Contingencies Litigation and Regulatory Matters The Company and its subsidiaries are routinely and currently involved in a significant number of legal proceedings, including, but not limited to, judicial, arbitration, regulatory and governmental proceedings related to matters that arise in connection with the conduct of the Company’s business. The legal proceedings are at varying stages of adjudication, arbitration or investigation and are generally based on alleged violations of consumer protection, securities, employment, contract, tort, common law fraud and other numerous laws, including, without limitation, the Equal Credit Opportunity Act, Fair Debt Collection Practices Act, Fair Credit Reporting Act, Real Estate Settlement Procedures Act, National Housing Act, Homeowners Protection Act, Service Member’s Civil Relief Act, Telephone Consumer Protection Act, Truth in Lending Act, Financial Institutions Reform, Recovery, and Enforcement Act of 1989, unfair, deceptive or abusive acts or practices in violation of the Dodd-Frank Act, the Securities Act of 1933, the Securities Exchange Act of 1934, the Home Mortgage Disclosure Act, Title 11 of the United States Code (aka the “Bankruptcy Code”), False Claims Act and Making Home Affordable loan modification programs. In addition, along with others in its industry, the Company is subject to repurchase and indemnification claims and may continue to receive claims in the future, regarding alleged breaches of representations and warranties relating to the sale of mortgage loans, the placement of mortgage loans into securitization trusts or the servicing of mortgage loans securitizations. The Company is also subject to legal actions or proceedings related to loss sharing and indemnification provisions of its various acquisitions. Certain of the pending or threatened legal proceedings include claims for substantial compensatory, punitive and/or statutory damages or claims for an indeterminate amount of damages. The Company’s business is also subject to extensive examinations, investigations and reviews by various federal, state and local governmental, regulatory and enforcement agencies. The Company has historically had a number of open investigations with these agencies and that trend continues. The Company is currently the subject of various governmental or regulatory investigations, subpoenas, examinations and inquiries related to its residential loan servicing and origination practices, bankruptcy and collections practices, its financial reporting and other aspects of its businesses. These matters include investigations by the Consumer Financial Protection Bureau (the “CFPB”), the Securities and Exchange Commission, the Executive Office of the United States Trustees, the Department of Justice, the Office of the Special Inspector General for the Troubled Asset Relief Program, the U.S. Department of Housing and Urban Development, the multi-state committee of mortgage banking regulators and various State Attorneys General. These specific matters and other pending or potential future investigations, subpoenas, examinations or inquiries may lead to administrative, civil or criminal proceedings or settlements, and possibly result in remedies including fines, penalties, restitution, or alterations in the Company’s business practices, and in additional expenses and collateral costs. Responding to these matters requires the Company to devote substantial resources, resulting in higher costs and lower net cash flows. For example, the Company continues to progress towards resolution of certain legacy regulatory matters involving examination findings for alleged violations of certain laws related to the Company’s business practices. The Company has been in discussions with the multi-state committee of mortgage banking regulators and various State Attorneys General concerning a potential resolution of their investigations. The Company is continuing to cooperate with all parties. In connection with these discussions, the Company previously recorded an accrual. These discussions may not result in a settlement of the matter; furthermore, any such settlement may exceed the amount accrued as of June 30, 2019. Moreover, if the discussions do not result in a settlement, the regulators and State Attorneys General may seek to exercise their enforcement authority through litigation or other proceedings and seek injunctive relief, damages, restitution and civil monetary penalties, which could have a material adverse effect on the Company’s business, reputation, financial condition and results of operations. Further, on April 24, 2018, the CFPB notified Nationstar that, in accordance with the CFPB’s discretionary Notice and Opportunity to Respond and Advise (“NORA”) process, the CFPB’s Office of Enforcement is considering whether to recommend that the CFPB take enforcement action against the Company, alleging violations of the Real Estate Settlement Procedures Act, the Consumer Financial Protection Act, and the Homeowners Protection Act, which stems from a 2014 examination. The purpose of a NORA letter is to provide a party being investigated an opportunity to present its position to the CFPB before an enforcement action may be recommended or commenced. The CFPB may seek to exercise its enforcement authority through settlement, administrative proceedings or litigation and seek injunctive relief, damages, restitution and civil monetary penalties, which could have a material adverse effect on the Company’s business, reputation, financial condition and results of operations. The Company has not recorded an accrual related to this matter as of June 30, 2019 because it does not believe that the possible loss or range of loss arising from any such action is estimable. The Company is continuing to cooperate with the CFPB. Similarly, the Company is in discussions with the Executive Office of the United States Trustees concerning certain legacy issues with respect to bankruptcy servicing practices. In connection with these discussions, the Company is undertaking certain voluntary remediation activities with respect to loans at issue in these matters. While the Company and the Executive Office of the United States Trustees are engaged in discussions to potentially resolve these issues, there is no guarantee a resolution will occur. Moreover, if the discussions do not result in a resolution, the Executive Office of the United States Trustees may seek redress through litigation or other proceedings and seek injunctive relief, damages and restitution in addition to the remediation activities, which could have a material adverse effect on the Company’s business, reputation, financial condition and results of operations. However, the Company believes it is premature to predict the potential outcome or to estimate the financial impact to the Company in connection with any potential action or settlement arising from this matter, including the voluntary remediation activities undertaken and to be undertaken by the Company. In addition, the Company was a defendant in a class action proceeding originally filed in state court in March 2012 and then removed to the United States District Court for the Eastern District of Washington under the caption Laura Zamora Jordan v. Nationstar Mortgage LLC. The suit was filed on behalf of a class of Washington borrowers and challenges property preservation measures the Company took, as loan servicer, after the borrowers defaulted and the Company’s vendors determined that the borrowers had vacated or abandoned their properties. The case raises claims for (i) common law trespass, (ii) statutory trespass, and (iii) violation of Washington’s Consumer Protection Act, and seeks recovery of actual, statutory, and treble damages, as well as attorneys’ fees and litigation costs. On July 25, 2018, the Company entered into a settlement agreement to resolve this matter, and on May 2, 2019, the court approved the settlement agreement. The Company is pursuing reimbursement of the settlement payment from the owners of the loans it serviced, but there can be no assurance that the Company would prevail with any claims for reimbursement. The Company is a defendant in a proceeding filed on January 2, 2018 in the U.S. District Court for the Northern District of California under the caption Collateral Analytics LLC v. Nationstar Mortgage LLC et al. The plaintiff alleges that the Company misappropriated plaintiff’s intellectual property for the purpose of replicating plaintiff’s products. The case raises federal and state law claims for misappropriation of trade secrets and breach of contract and seeks an award of actual damages, unjust enrichment, lost profits and/or a reasonable royalty, exemplary damages and injunctive relief preventing further misuse or disclosure of plaintiff’s intellectual property. The Company believes it has meritorious defenses and will vigorously defend itself in this matter. The Company is also a defendant in a proceeding filed on October 23, 2015 in the U.S. District Court for the Central District of California under the caption Alfred Zaklit and Jessy Zaklit, individually and on behalf of all others similarly situated v. Nationstar Mortgage LLC et al. The plaintiff alleges that the Company improperly recorded telephone calls without the knowledge or consent of borrowers in violation of the California Penal Code. On July 24, 2017, the court certified a class comprised of California borrowers who, from October 2014 to May 2016, participated in outbound telephone conversations with the Company’s employees who recorded the conversations without first informing the borrowers that the conversations were being recorded. The class seeks statutory damages and attorney’s fees. On September 10, 2018, the Company reached an agreement in principal to settle this matter, and the parties are currently seeking approval of the settlement from the court. The Company seeks to resolve all legal proceedings and other matters in the manner management believes is in the best interest of the Company and contests liability, allegations of wrongdoing and, where applicable, the amount of damages or scope of any penalties or other relief sought as appropriate in each pending matter. The Company has entered into agreements with a number of entities and regulatory agencies that toll applicable limitations periods with respect to their claims. On at least a quarterly basis, the Company assesses its liabilities and contingencies in connection with outstanding legal and regulatory and governmental proceedings utilizing the latest information available. Where available information indicates that it is probable, a liability has been incurred, and the Company can reasonably estimate the amount of the loss, an accrued liability is established. The actual costs of resolving these proceedings may be substantially higher or lower than the amounts accrued. As a legal matter develops, the Company, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether such matter presents a loss contingency that is both probable and estimable. If, at the time of evaluation, the loss contingency is not both probable and reasonably estimable, the matter will continue to be monitored for further developments that would make such loss contingency both probable and reasonably estimable. Once the matter is deemed to be both probable and reasonably estimable, the Company will establish an accrued liability and record a corresponding amount to legal-related expense. The Company will continue to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. Legal-related expense for the Company, which includes legal settlements and the fees paid to external legal service providers, of $21 and $32 for the three and six months ended June 30, 2019, respectively. Legal-related expense for the Predecessor of $3 and $7 for the three and six months ended June 30, 2018, respectively, was included in general and administrative expenses on the consolidated statements of operations. For a number of matters for which a loss is probable or reasonably possible in future periods, whether in excess of a related accrued liability or where there is no accrued liability, the Company may be able to estimate a range of possible loss. In determining whether it is possible to provide an estimate of loss or range of possible loss, the Company reviews and evaluates its material legal matters on an ongoing basis, in conjunction with any outside counsel handling the matter. For those matters for which an estimate is possible, management currently believes the aggregate range of reasonably possible loss is $16 to $45 in excess of the accrued liability (if any) related to those matters as of June 30, 2019. This estimated range of possible loss is based upon currently available information and is subject to significant judgment, numerous assumptions and known and unknown uncertainties. The matters underlying the estimated range will change from time to time, and actual results may vary substantially from the current estimate. Those matters for which an estimate is not possible are not included within the estimated range. Therefore, this estimated range of possible loss represents what management believes to be an estimate of possible loss only for certain matters meeting these criteria. It does not represent the Company’s maximum loss exposure and the Company cannot provide assurance that its litigations reserves will not need to be adjusted in the future. Thus, the Company’s exposure and ultimate losses may be higher, possibly significantly so, than the amounts accrued or this aggregate amount. In the Company’s experience, legal proceedings are inherently unpredictable. One or more of the following factors frequently contribute to this inherent unpredictability: the proceeding is in its early stages; the damages sought are unspecified, unsupported or uncertain; it is unclear whether a case brought as a class action will be allowed to proceed on that basis or, if permitted to proceed as a class action, how the class will be defined; the other party is seeking relief other than or in addition to compensatory damages (including, in the case of regulatory and governmental investigations and inquiries, the possibility of fines and penalties); the matter presents meaningful legal uncertainties, including novel issues of law; the Company has not engaged in meaningful settlement discussions; discovery has not started or is not complete; there are significant facts in dispute; predicting possible outcomes depends on making assumptions about future decisions of courts or governmental or regulatory bodies or the behavior of other parties; and there are a large number of parties named as defendants (including where it is uncertain how damages or liability, if any, will be shared among multiple defendants). Generally, the less progress that has been made in the proceedings or the broader the range of potential results, the harder it is for the Company to estimate losses or ranges of losses that is reasonably possible the Company could incur. Based on current knowledge, and after consultation with counsel, management believes that the current legal accrued liability within payables and accrued liabilities, is appropriate, and the amount of any incremental liability arising from these matters is not expected to have a material adverse effect on the consolidated financial condition of the Company, although the outcome of such proceedings could be material to the Company’s operating results and cash flows for a particular period depending, on among other things, the level of the Company’s revenues or income for such period. However, in the event of significant developments on existing cases, it is possible that the ultimate resolution, if unfavorable, may be material to the Company’s consolidated financial statements. Other Loss Contingencies As part of the Company’s ongoing operations, it acquires servicing rights of forward and reverse mortgage loan portfolios that are subject to indemnification based on the representations and warranties of the seller. From time to time, the Company will seek recovery under these representations and warranties for incurred costs. The Company believes all balances sought from sellers recorded in advances and other receivables and reverse mortgage interests represent valid claims. However, the Company acknowledges that the claims process can be prolonged due to the required time to perfect claims at the loan level. Because of the required time to perfect or remediate these claims, management relies on the sufficiency of documentation supporting the claim, current negotiations with the counterparty and other evidence to evaluate whether a reserve is required for non-recoverable balances. In the absence of successful negotiations with the seller, all amounts claimed may not be recovered. Balances may be written-off and charged against earnings when management identifies amounts where recoverability from the seller is not likely. As of June 30, 2019, the Company believes all recorded balances for which recovery is sought from the seller are valid claims, and no evidence suggests additional reserves are warranted. Loan and Other Commitments The Company enters into IRLCs with prospective borrowers whereby the Company commits to lend a certain loan amount under specific terms and interest rates to the borrower. The Company also enters into LPCs with prospective sellers. These loan commitments are treated as derivatives and are carried at fair value. See Note 9, Derivative Financial Instruments, for more information. The Company had certain reverse MSRs, reverse MSLs and reverse mortgage loans related to approximately $25,569 and $28,415 of UPB in reverse mortgage loans as of June 30, 2019 and December 31, 2018, respectively. As a servicer for these reverse mortgage loans, among other things, the Company is obligated to fund borrowers’ draws to the loan customers as required in accordance with the loan agreement. As of June 30, 2019 and December 31, 2018, the Company’s maximum unfunded advance obligation to fund borrower draws related to these MSRs and loans was approximately $2,869 and $3,128, respectively. Upon funding any portion of these draws, the Company expect to securitize and sell the advances in transactions that will be accounted for as secured borrowings.

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Business Segment Reporting

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Business Segment Reporting

19. Business Segment Reporting

The following tables present financial information by segment.



	Successor
	Three Months Ended June 30, 2019
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	27		$	20		$	108	$	(18	)	$	137		$	—		$	137
Net gain on mortgage loans held for sale	—			244			—		18			262			—			262
Total revenues	27			264			108		—			399			—			399
Total Expenses	189			145			101		—			435			57			492
Other income (expenses)
Interest income	136			23			—		—			159			3			162
Interest expense	(109		)	(25		)	—		—			(134		)	(53		)	(187		)
Other	—			1			—		—			1			—			1
Total Other Income (Expenses), Net	27			(1		)	—		—			26			(50		)	(24		)
(Loss) income before income tax (benefit) expense	$	(135	)	$	118		$	7	$	—		$	(10	)	$	(107	)	$	(117	)
Depreciation and amortization for property and equipment and intangible assets	$	4		$	6		$	3	$	—		$	13		$	11		$	24
Total assets	$	12,806		$	7,478		$	493	$	(4,687	)	$	16,090		$	2,315		$	18,405



	Predecessor
	Three Months Ended June 30, 2018
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	248		$	17		$	62	$	(11	)	$	316		$	1		$	317
Net gain on mortgage loans held for sale	—			116			—		11			127			—			127
Total revenues	248			133			62		—			443			1			444
Total Expenses	166			102			52		—			320			19			339
Other income (expenses)
Interest income	121			17			—		—			138			2			140
Interest expense	(115		)	(16		)	—		—			(131		)	(33		)	(164		)
Other	—			—			—		—			—			(2		)	(2		)
Total Other Income (Expenses), Net	6			1			—		—			7			(33		)	(26		)
Income (loss) before income tax expense (benefit)	$	88		$	32		$	10	$	—		$	130		$	(51	)	$	79
Depreciation and amortization for property and equipment and intangible assets	$	6		$	3		$	3	$	—		$	12		$	2		$	14
Total assets	$	14,640		$	4,794		$	423	$	(3,538	)	$	16,319		$	871		$	17,190


⁽¹⁾	For Servicing segment results purposes, all revenue is attributable to servicing portfolio. Therefore, $18 and $11 of net gain on mortgage loans is moved to service related, net during the three months ended June 30, 2019 and 2018, respectively. For consolidated results purposes, these amounts were reclassed back to net gain on mortgage loans held for sale.



	Successor
	Six Months Ended June 30, 2019
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	35		$	35		$	204	$	(53	)	$	221		$	—		$	221
Net gain on mortgage loans held for sale	—			375			—		53			428			—			428
Total revenues	35			410			204		—			649			—			649
Total Expenses	384			249			200		—			833			102			935
Other income (expenses)
Interest income	251			40			—		—			291			5			296
Interest expense	(223		)	(43		)	—		—			(266		)	(110		)	(376		)
Other	—			5			11		—			16			—			16
Total Other Income (Expenses), Net	28			2			11		—			41			(105		)	(64		)
(Loss) income before income tax (benefit) expense	$	(321	)	$	163		$	15	$	—		$	(143	)	$	(207	)	$	(350	)
Depreciation and amortization for property and equipment and intangible assets	$	8		$	9		$	7	$	—		$	24		$	21		$	45
Total assets	$	12,806		$	7,478		$	493	$	(4,687	)	$	16,090		$	2,315		$	18,405



	Predecessor
	Six Months Ended June 30, 2018
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	643		$	32		$	127	$	(22	)	$	780		$	1		$	781
Net gain on mortgage loans held for sale	—			229			—		22			251			—			251
Total revenues	643			261			127		—			1,031			1			1,032
Total Expenses	348			211			104		—			663			40			703
Other income (expenses)
Interest income	247			32			—		—			279			6			285
Interest expense	(233		)	(31		)	—		—			(264		)	(71		)	(335		)
Other	(1		)	—			9		—			8			(2		)	6
Total Other Income (Expenses), Net	13			1			9		—			23			(67		)	(44		)
Income (loss) before income tax expense (benefit)	$	308		$	51		$	32	$	—		$	391		$	(106	)	$	285
Depreciation and amortization for property and equipment and intangible assets	$	13		$	6		$	6	$	—		$	25		$	4		$	29
Total assets	$	14,640		$	4,794		$	423	$	(3,538	)	$	16,319		$	871		$	17,190


⁽¹⁾	For Servicing segment results purposes, all revenue is attributable to servicing portfolio. Therefore, $53 and $22 of net gain on mortgage loans is moved to service related, net during the six months ended June 30, 2019 and 2018, respectively. For consolidated results purposes, these amounts were reclassed back to net gain on mortgage loans held for sale.

XML 44 R27.htm IDEA: XBRL DOCUMENT

Guarantor Financial Statement Information

6 Months Ended

Jun. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Guarantor Financial Statement Information

20. Guarantor Financial Statement Information


⁽¹⁾	Nationstar Capital Corporation has no assets, operations or liabilities other than being a co-obligor of the unsecured senior notes.

MR. COOPER GROUP INC. CONSOLIDATING BALANCE SHEET JUNE 30, 2019

	Successor
	Mr. Cooper		Issuer⁽¹⁾		Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—	$	215	$	1	$	29	$	—		$	245
Restricted cash	—		204		—		100		—			304
Mortgage servicing rights	—		3,484		—		27		—			3,511
Advances and other receivables, net	—		1,000		—		—		—			1,000
Reverse mortgage interests, net	—		6,003		—		1,107		—			7,110
Mortgage loans held for sale at fair value	—		3,422		—		—		—			3,422
Mortgage loans held for investment at fair value	—		2		—		112		—			114
Property and equipment, net	—		99		—		16		—			115
Deferred tax asset, net	984		69		—		2		—			1,055
Other assets	—		1,399		208		661		(739		)	1,529
Investment in subsidiaries	2,557		612		—		—		(3,169		)	—
Total assets	$	3,541	$	16,509	$	209	$	2,054	$	(3,908	)	$	18,405

Liabilities and Stockholders’ Equity
Unsecured senior notes, net	$	1,663	$	799	$	—	$	—	$	—		$	2,462
Advance facilities, net	—		89		—		478		—			567
Warehouse facilities, net	—		4,045		—		—		—			4,045
Payables and other liabilities	59		1,999		2		56		—			2,116
MSR related liabilities - nonrecourse at fair value	—		1,456		—		16		—			1,472
Mortgage servicing liabilities	—		80		—		—		—			80
Other nonrecourse debt, net	—		4,890		—		1,095		—			5,985
Payables to affiliates	141		594		—		4		(739		)	—
Total liabilities	1,863		13,952		2		1,649		(739		)	16,727
Total stockholders’ equity	1,678		2,557		207		405		(3,169		)	1,678
Total liabilities and stockholders’ equity	$	3,541	$	16,509	$	209	$	2,054	$	(3,908	)	$	18,405


⁽¹⁾	Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2019

	Successor
	Mr. Cooper			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Revenues:
Service related, net	$	—		$	21		$	5	$	111		$	—	$	137
Net gain on mortgage loans held for sale	—			262			—		—			—		262
Total revenues	—			283			5		111			—		399
Expenses:
Salaries, wages benefits	—			198			1		39			—		238
General and administrative	—			179			1		74			—		254
Total expenses	—			377			2		113			—		492
Other income (expenses):
Interest income	—			147			—		15			—		162
Interest expense	(39		)	(134		)	—		(14		)	—		(187		)
Other income (expenses)	—			1			—		—			—		1
(Loss) gain from subsidiaries	(48		)	2			—		—			46		—
Total other income (expenses), net	(87		)	16			—		1			46		(24		)
(Loss) income before income tax benefit	(87		)	(78		)	3		(1		)	46		(117		)
Less: Income tax benefit	—			(29		)	—		—			—		(29		)
Net (loss) income	(87		)	(49		)	3		(1		)	46		(88		)
Less: Net loss attributable to non-controlling interests	—			(1		)	—		—			—		(1		)
Net (loss) income attributable to Mr. Cooper	$	(87	)	$	(48	)	$	3	$	(1	)	$	46	$	(87	)


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2019

	Successor
	Mr. Cooper			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Revenues:
Service related, net	$	—		$	2		$	11	$	208		$	—	$	221
Net gain on mortgage loans held for sale	—			428			—		—			—		428
Total revenues	—			430			11		208			—		649
Expenses:
Salaries, wages benefits	—			372			2		79			—		453
General and administrative	—			344			2		136			—		482
Total expenses	—			716			4		215			—		935
Other income (expenses):
Interest income	—			265			—		31			—		296
Interest expense	(77		)	(268		)	—		(31		)	—		(376		)
Other income (expenses)	—			5			—		11			—		16
(Loss) gain from subsidiaries	(196		)	11			—		—			185		—
Total other income (expenses), net	(273		)	13			—		11			185		(64		)
(Loss) income before income tax benefit	(273		)	(273		)	7		4			185		(350		)
Less: Income tax benefit	—			(76		)	—		—			—		(76		)
Net (loss) income	(273		)	(197		)	7		4			185		(274		)
Less: Net loss attributable to non-controlling interests	—			(1		)	—		—			—		(1		)
Net (loss) income attributable to Mr. Cooper	$	(273	)	$	(196	)	$	7	$	4		$	185	$	(273	)


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2019

	Successor
	Mr. Cooper			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net (loss) income attributable to Mr. Cooper	$	(273	)	$	(196	)	$	7		$	4		$	185		$	(273	)
Adjustments to reconcile net (loss) income to net cash attributable to operating activities:
Deferred tax benefit	—			(76		)	—			—			—			(76		)
Net income attributable to non-controlling interests	—			(1		)	—			—			—			(1		)
Loss (gain) from subsidiaries	196			(11		)	—			—			(185		)	—
Net gain on mortgage loans held for sale	—			(428		)	—			—			—			(428		)
Interest income on reverse mortgage loan	—			(167		)	—			—			—			(167		)
Provision for servicing reserves	—			30			—			—			—			30
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities	—			690			—			5			—			695
Fair value changes in excess spread financing	—			(71		)	—			(3		)	—			(74		)
Fair value changes in mortgage servicing rights financing liability	—			11			—			—			—			11
Fair value changes in mortgage loans held for investment	—			—			—			(3		)	—			(3		)
Amortization of premiums, net of discount accretion	3			(28		)	—			—			—			(25		)
Depreciation and amortization for property and equipment and intangible assets	—			37			—			8			—			45
Share-based compensation	—			7			—			2			—			9
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(715		)	—			—			—			(715		)
Mortgage loans originated and purchased for sale, net of fees	—			(15,727		)	—			—			—			(15,727		)
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			15,420			—			9			—			15,429
Changes in assets and liabilities:
Advances and other receivables	—			249			—			—			—			249
Reverse mortgage interests	—			1,001			—			55			—			1,056
Other assets	—			(65		)	(8		)	(45		)	—			(118		)
Payables and other liabilities	74			(16		)	1			(28		)	—			31
Net cash attributable to operating activities	—			(56		)	—			4			—			(52		)


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2019 (Continued)

	Successor
	Mr. Cooper		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing Activities
Acquisition, net of cash acquired	—		(85		)	—		—			—		(85		)
Property and equipment additions, net of disposals	—		(20		)	—		(7		)	—		(27		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—		(409		)	—		—			—		(409		)
Proceeds on sale of forward and reverse mortgage servicing rights	—		279			—		—			—		279
Net cash attributable to investing activities	—		(235		)	—		(7		)	—		(242		)
Financing Activities
Increase in warehouse facilities	—		1,173			—		—			—		1,173
Decrease in advance facilities	—		(13		)	—		(27		)	—		(40		)
Repayment of notes payable	—		(294		)	—		—			—		(294		)
Proceeds from issuance of HECM securitizations	—		—			—		398			—		398
Proceeds from sale of HECM securitizations	—		—			—		20			—		20
Repayment of HECM securitizations	—		—			—		(434		)	—		(434		)
Proceeds from issuance of participating interest financing in reverse mortgage interests	—		156			—		—			—		156
Repayment of participating interest financing in reverse mortgage interests	—		(1,004		)	—		—			—		(1,004		)
Proceeds from issuance of excess spread financing	—		437			—		—			—		437
Repayment of excess spread financing	—		(12		)	—		—			—		(12		)
Settlement of excess spread financing	—		(107		)	—		—			—		(107		)
Repayment of nonrecourse debt - legacy assets	—		—			—		(6		)	—		(6		)
Repayment of finance lease liability	—		(2		)	—		—			—		(2		)
Surrender of shares relating to stock vesting	—		(2		)	—		—			—		(2		)
Debt financing costs	—		(1		)	—		—			—		(1		)
Net cash attributable to financing activities	—		331			—		(49		)	—		282
Net increase (decrease) in cash, cash equivalents, and restricted cash	—		40			—		(52		)	—		(12		)
Cash, cash equivalents, and restricted cash - beginning of period	—		379			1		181			—		561
Cash, cash equivalents, and restricted cash - end of period	$	—	$	419		$	1	$	129		$	—	$	549


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2018

	Successor
	Mr. Cooper		Issuer⁽¹⁾		Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—	$	193	$	1	$	48		$	—		$	242
Restricted cash	—		186		—		133			—			319
Mortgage servicing rights	—		3,644		—		32			—			3,676
Advances and other receivables, net	—		1,194		—		—			—			1,194
Reverse mortgage interests, net	—		6,770		—		1,164			—			7,934
Mortgage loans held for sale at fair value	—		1,631		—		—			—			1,631
Mortgage loans held for investment at fair value	—		1		—		118			—			119
Property and equipment, net	—		84		—		12			—			96
Deferred tax asset, net	973		—		—		(6		)	—			967
Other assets	—		660		202		621			(688		)	795
Investment in subsidiaries	2,820		601		—		—			(3,421		)	—
Total assets	$	3,793	$	14,964	$	203	$	2,122		$	(4,109	)	$	16,973

Liabilities and Stockholders’ Equity
Unsecured senior notes, net	$	1,660	$	799	$	—	$	—		$	—		$	2,459
Advance facilities, net	—		90		—		505			—			595
Warehouse facilities, net	—		2,349		—		—			—			2,349
Payables and other liabilities	49		1,413		1		80			—			1,543
MSR related liabilities - nonrecourse at fair value	—		1,197		—		19			—			1,216
Mortgage servicing liabilities	—		71		—		—			—			71
Other nonrecourse debt, net	—		5,676		—		1,119			—			6,795
Payables to affiliates	139		549		—		—			(688		)	—
Total liabilities	1,848		12,144		1		1,723			(688		)	15,028
Total stockholders’ equity	1,945		2,820		202		399			(3,421		)	1,945
Total liabilities and stockholders’ equity	$	3,793	$	14,964	$	203	$	2,122		$	(4,109	)	$	16,973


⁽¹⁾	Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2018

	Predecessor
	Nationstar		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—	$	247		$	7	$	63		$	—		$	317
Net gain on mortgage loans held for sale	—		127			—		—			—			127
Total Revenues	—		374			7		63			—			444
Expenses:
Salaries, wages and benefits	—		149			1		27			—			177
General and administrative	—		134			—		28			—			162
Total expenses	—		283			1		55			—			339
Other income (expenses):
Interest income	—		127			—		13			—			140
Interest expense	—		(153		)	—		(11		)	—			(164		)
Other expense	—		(3		)	—		1			—			(2		)
Gain (loss) from subsidiaries	58		18			—		—			(76		)	—
Total other income (expenses), net	58		(11		)	—		3			(76		)	(26		)
Income (loss) before income tax expense (benefit)	58		80			6		11			(76		)	79
Less: Income tax expense (benefit)	—		22			—		(1		)	—			21
Net income (loss)	58		58			6		12			(76		)	58
Less: Net income (loss) attributable to non-controlling interests	—		—			—		—			—			—
Net income (loss) attributable to Nationstar	$	58	$	58		$	6	$	12		$	(76	)	$	58


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2018

	Predecessor
	Nationstar		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—	$	637		$	13	$	131		$	—		$	781
Net gain on mortgage loans held for sale	—		251			—		—			—			251
Total Revenues	—		888			13		131			—			1,032
Expenses:
Salaries, wages and benefits	—		301			2		54			—			357
General and administrative	—		290			1		55			—			346
Total expenses	—		591			3		109			—			703
Other income (expenses):
Interest income	—		258			—		27			—			285
Interest expense	—		(315		)	—		(20		)	—			(335		)
Other expense	—		(4		)	—		10			—			6
Gain (loss) from subsidiaries	218		50			—		—			(268		)	—
Total other income (expenses), net	218		(11		)	—		17			(268		)	(44		)
Income (loss) before income tax expense (benefit)	218		286			10		39			(268		)	285
Less: Income tax expense (benefit)	—		68			—		(1		)	—			67
Net income (loss)	218		218			10		40			(268		)	218
Less: Net income (loss) attributable to non-controlling interests	—		—			—		—			—			—
Net income (loss) attributable to Nationstar	$	218	$	218		$	10	$	40		$	(268	)	$	218


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2018

	Predecessor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net income (loss) attributable to Nationstar	$	218		$	218		$	10		$	40		$	(268	)	$	218
Adjustments to reconcile net income (loss) to net cash attributable to operating activities:
Deferred income tax expense (benefit)	—			41			—			(1		)	—			40
(Gain) loss from subsidiaries	(218		)	(50		)	—			—			268			—
Net gain on mortgage loans held for sale	—			(251		)	—			—			—			(251		)
Interest income on reverse mortgage loan	—			(237		)	—			—			—			(237		)
Gain on sale of assets	—			—			—			(9		)	—			(9		)
Provision for servicing reserves	—			54			—			—			—			54
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities	—			(155		)	—			—			—			(155		)
Fair value changes in excess spread financing	—			73			—			1			—			74
Fair value changes in mortgage servicing rights financing liability	—			6			—			—			—			6
Amortization of premiums, net of discount accretion	—			9			—			(3		)	—			6
Depreciation and amortization for property and equipment and intangible assets	—			23			—			6			—			29
Share-based compensation	—			7			—			1			—			8
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(475		)	—			—			—			(475		)
Mortgage loans originated and purchased for sale, net of fees	—			(10,639		)	—			—			—			(10,639		)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			11,490			—			10			—			11,500
Changes in assets and liabilities:
Advances and other receivables	—			355			—			—			—			355
Reverse mortgage interests	—			1,314			—			12			—			1,326
Other assets	6			(188		)	(10		)	202			—			10
Payables and other liabilities	—			13			—			(4		)	—			9
Net cash attributable to operating activities	6			1,608			—			255			—			1,869


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2018 (Continued)

	Predecessor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing Activities
Property and equipment additions, net of disposals	—			(27		)	—		(4		)	—		(31		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—			(117		)	—		(6		)	—		(123		)
Net payment related to acquisition of HECM related receivables	—			(1		)	—		—			—		(1		)
Proceeds on sale of assets	—			—			—		13			—		13
Net cash attributable to investing activities	—			(145		)	—		3			—		(142		)
Financing Activities
Increase in warehouse facilities	—			(199		)	—		—			—		(199		)
Decrease in advance facilities	—			(57		)	—		(282		)	—		(339		)
Proceeds from issuance of HECM securitizations	—			—			—		443			—		443
Repayment of HECM securitizations	—			—			—		(423		)	—		(423		)
Proceeds from issuance of participating interest financing in reverse mortgage interests	—			184			—		—			—		184
Repayment of participating interest financing in reverse mortgage interests	—			(1,368		)	—		—			—		(1,368		)
Repayment of excess spread financing	—			(2		)	—		—			—		(2		)
Settlement of excess spread financing	—			(91		)	—		—			—		(91		)
Proceeds from issuance of excess spread financing	—			70			—		—			—		70
Repayment of nonrecourse debt - legacy assets	—			—			—		(6		)	—		(6		)
Repurchase of unsecured senior notes	—			(62		)	—		—			—		(62		)
Surrender of shares relating to stock vesting	(6		)	—			—		—			—		(6		)
Debt financing costs	—			(7		)	—		—			—		(7		)
Dividends to non-controlling interests	—			(1		)	—		—			—		(1		)
Net cash attributable to financing activities	(6		)	(1,533		)	—		(268		)	—		(1,807		)
Net decrease in cash, cash equivalents, and restricted cash	—			(70		)	—		(10		)	—		(80		)
Cash, cash equivalents, and restricted cash - beginning of period	—			423			1		151			—		575
Cash, cash equivalents, and restricted cash - end of period	$	—		$	353		$	1	$	141		$	—	$	495


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

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Transactions with Affiliates	6 Months Ended
Transactions with Affiliates	Jun. 30, 2019
Related Party Transactions [Abstract]
Transactions with Affiliates	21. Transactions with Affiliates Nationstar previously entered into arrangements with Fortress Investment Group (“Fortress”), its subsidiaries managed funds, or affiliates for purposes of financing the Company’s MSR acquisitions and performing services as a subservicer. Prior to the Merger with Nationstar on July 31, 2018, an affiliate of Fortress held a majority of the outstanding common shares of the Predecessor. Subsequent to the Merger, Fortress is no longer an affiliate of the Company. Refer to Note 2, Acquisitions, for additional information. The following summarizes the Predecessor’s transactions with affiliates of Fortress prior to the Merger on July, 31 2018. New Residential Excess Spread Financing The Predecessor has entered into several agreements with certain entities managed by New Residential, in which New Residential and/or certain funds managed by Fortress own an interest (each a “New Residential Entity”). The Predecessor sold to the related New Residential Entity the right to receive a portion of the excess cash flow generated from certain acquired MSRs after a receipt of a fixed base servicing fee per loan. The Predecessor, as the servicer of the loans, retains all ancillary revenues and the remaining portion of the excess cash flow after payment of the fixed base servicing fee and also provides all advancing functions for the portfolio. The related New Residential Entity does not have prior or ongoing obligations associated with these MSR portfolios. Should the Company refinance any loan in such portfolios, subject to certain limitations, the Company will be required to transfer the new loan or a replacement loan of similar economic characteristics into the portfolios. The new or replacement loan will be governed by the same terms set forth in the agreements described above. The fees paid to New Residential Entity by the Predecessor totaled $52 and $105 during the three and six months ended June 30, 2018, respectively, which were recorded as a reduction to servicing fee revenue, net. Mortgage Servicing Rights Financing From December 2013 through June 2014, the Predecessor entered into agreements to sell a contractually specified base fee component of certain MSRs and servicing advances under specified terms to a joint venture capitalized by New Residential and certain unaffiliated third-parties. The Company continues to be the named servicer, and, for accounting purposes, ownership of the mortgage servicing rights continues to reside with the Company. Accordingly, the Company accounts for the MSRs and the related MSRs financing liability on its consolidated balance sheets. The Company will continue to sell future servicing advances to New Residential. The Predecessor did not enter into any additional supplemental agreements with these affiliates in 2018. Subservicing and Servicing In January 2017, the Predecessor entered into a subservicing agreement with a subsidiary of New Residential. The Predecessor earned $18 and $37 of subservicing fees and other subservicing revenues during the three and six months ended June 30, 2018, respectively. In May 2014, the Predecessor entered into a servicing arrangement with New Residential whereby the Predecessor services residential mortgage loans acquired by New Residential and/or its various affiliates and trust entities. For the three and six months ended June 30, 2018, the Predecessor recognized approximately $2 and $3 related to these service arrangements, respectively.

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Nature of Business and Basis of Presentation (Policies)	6 Months Ended
Nature of Business and Basis of Presentation (Policies)	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation For the purpose of financial statement presentation, Mr. Cooper was determined to be the accounting acquirer in the Merger, and Nationstar’s assets and liabilities were recorded at estimated fair value as of the acquisition date. Mr. Cooper’s interim consolidated financial statements for periods following the Merger closing are labeled “Successor” and reflect the acquired assets and liabilities from Nationstar. Under Securities and Exchange Commission (“SEC”) rules, when a registrant succeeds to substantially all of the business of another entity and the registrant’s own operations before the succession appear insignificant relative to the operations assumed or acquired, the registrant is required to present financial information for the acquired entity (the “Predecessor”) for all comparable periods being presented before the acquisition. Due to the acquisition, the Predecessor and Successor financial statements have been prepared on different basis of accounting and are therefore not comparable. Pursuant to the Merger, Nationstar is considered the predecessor company. Therefore, the Company is providing additional information in the accompanying unaudited condensed consolidated financial statements regarding Nationstar’s business for periods prior to July 31, 2018. The predecessor company financial information in this report is labeled “Predecessor” in these consolidated interim financial statements. The consolidated interim financial statements of the Company and Predecessor have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the SEC. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Reports on Form 10-K for the year ended December 31, 2018. Upon the consummation of the Merger, the Company adopted the significant accounting policies that were implemented by Nationstar and applied to the Predecessor’s financial statements, as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The interim consolidated financial statements are unaudited; however, in the opinion of management, all adjustments, consisting of normal recurring items, considered necessary for a fair presentation of the results of the interim periods have been included. Dollar amounts are reported in millions, except per share data and other key metrics, unless otherwise noted. The Company evaluated subsequent events through the date these interim consolidated financial statements were issued.
Basis of Consolidation	Basis of Consolidation The basis of consolidation described below was adopted by Nationstar and applied to the Predecessor financial statements for the periods impacted by the adoption. The Successor’s financial statements reflect the adoption of such standards. The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, other entities in which the Company has a controlling financial interest and those variable interest entities (“VIE”) where the Company’s wholly-owned subsidiaries are the primary beneficiaries. Assets and liabilities of VIEs and their respective results of operations are consolidated from the date that the Company became the primary beneficiary through the date the Company ceases to be the primary beneficiary. The Company applies the equity method of accounting to investments where it is able to exercise significant influence, but not control, over the policies and procedures of the entity and owns less than 50% of the voting interests. Investments in certain companies over which the Company does not exert significant influence are accounted for as cost method investments. Intercompany balances and transactions on consolidated entities have been eliminated. Business combinations are included in the consolidated financial statements from their respective dates of acquisition.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates due to factors such as adverse changes in the economy, changes in interest rates, secondary market pricing for loans held for sale and derivatives, strength of underwriting and servicing practices, changes in prepayment assumptions, declines in home prices or discrete events adversely affecting specific borrowers, and such differences could be material.
Recent Accounting Guidance Adopted and Not Yet Adopted	Recent Accounting Guidance Adopted Accounting Standards Update No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), No.2018-10, Codification Improvements to Topic 842, Leases (“ASU 2018-10”), and No. 2018-11, Leases (Topic 842): Targeted Improvements (“ASU 2018-11”), primarily impact lessee accounting by requiring the recognition of a right-of-use asset and a corresponding lease liability on the balance sheet for long-term lease agreements. ASU 2016-02 was effective for the Company on January 1, 2019. ASU 2016-02 provides for a modified retrospective transition approach requiring lessees to recognize and measure leases on the balance sheet at the beginning of either the earliest period presented or as of the beginning of the period of adoption with the option to elect certain practical expedients. The Company has elected to apply ASU 2016-02 as of the beginning of the period of adoption (January 1, 2019) and has not restated comparative periods. The Company elected the package of practical expedients, which, among other items, permits the Company not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company also elected the short-term lease recognition exemption for all leases that qualify. Under this practical expedient, for those leases that qualify, the Company does not recognize right-of-use (“ROU”) assets or lease liabilities, which includes not recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. The Company also elected the practical expedient to not separate lease and non-lease components for all of our leases. The Company did not elect the use-of-hindsight practical expedient. As a result of implementing ASU 2016-02, the Company recognized an operating lease ROU asset of $114 and an operating lease liability of $124 on January 1, 2019, with no impact on its consolidated statement of operations. The ROU asset and operating lease liability are recorded in other assets, and payables and other liabilities, respectively, in the consolidated balance sheets. See Note 7, Leases for additional information. Accounting Standards Update No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40 - Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" (“ASU 2018-15”) aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 will be effective for the Company on January 1, 2020. Early adoption is permitted, including adoption in any interim period. In the first quarter of 2019, the Company early adopted ASU 2018-15. The standard did not have a material impact to the Company’s consolidated financial statements. Recent Accounting Guidance Not Yet Adopted Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”), requires expected credit losses for financial instruments held at the reporting date to be measured based on historical experience, current conditions and reasonable and supportable forecasts. The update eliminates the probable initial recognition threshold in current GAAP and instead reflects an entity’s current estimate of all expected credit losses over the life of the asset. Previously, when credit losses were measured under GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. ASU 2016-13 is effective for interim periods beginning after December 15, 2019. The Company is currently evaluating the potential impact of ASU 2016-13 on its consolidated financial statements. As part of the evaluation process, the Company has performed a scoping analysis, developed a detailed project plan, and is currently in process of completing documentation. The Company has also formed an internal committee from various internal departments to assist in the documentation and review of such documentation regarding the implementation of the new standard. Accounting Standards Update No. 2018-13, Fair Value Measurement (Topic 820) - Changes to the Disclosure Requirements for Fair Value Measurement, (“ASU 2018-13”) removes the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 fair value measurement methodologies, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements. It also adds a requirement to disclose changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 measurements. For certain unobservable inputs, entities may disclose other quantitative information in lieu of the weighted average if the other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 will be effective for the Company on January 1, 2020. The Company is currently evaluating the potential impact of ASU 2018-13 on its consolidated financial statements.

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Acquisitions (Tables)

6 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The final allocation of the purchase price to the acquired assets and liabilities is as follows:



Final Estimated Fair Value of Net Assets Acquired:
Cash and cash equivalents	$	166
Restricted cash	430
Mortgage servicing rights	3,422
Advances and other receivables	1,262
Reverse mortgage interests	9,189
Mortgage loans held for sale	1,514
Mortgage loans held for investment	125
Property and equipment	96
Other assets	610
Fair value of assets acquired	16,814
Unsecured senior notes	1,830
Advance facilities	551
Warehouse facilities	2,701
Payables and other liabilities	1,352
MSR related liabilities—nonrecourse	1,065
Mortgage servicing liabilities	123
Other nonrecourse debt	7,583
Fair value of liabilities assumed	15,205
Total fair value of net tangible assets acquired	1,609
Intangible assets⁽¹⁾	103
Goodwill	65
Purchase price	$	1,777


⁽¹⁾	The following intangible assets were acquired in the Nationstar acquisition.



	Useful Life (Years)	Fair Value
Customer relationships⁽ⁱ⁾	6	$	61
Tradename⁽ⁱⁱ⁾	5	8
Technology⁽ⁱⁱ⁾	3-5	11
Internally developed software⁽ⁱⁱⁱ⁾	2	23
Total		$	103


⁽ⁱ⁾	The estimated fair values for customer relationships were measured using the excess earnings method.


⁽ⁱⁱ⁾	The estimated fair values for tradename and technology were measured using the relief-from-royalty method. This method assumes the tradename and technology have value to the extent the owner is relieved of the obligation to pay royalties for the benefits received from these assets.


⁽ⁱⁱⁱ⁾	The estimated fair values for internally developed software were measured using the replacement cost method.



Estimated Fair Value of Net Assets Acquired ⁽¹⁾:
Cash and cash equivalents	$	37
Restricted cash	2
Mortgage servicing rights	271
Advances and other receivables	84
Mortgage loans held for sale	536
Mortgage loans held for investment	1
Property and equipment	8
Other assets	483
Fair value of assets acquired	1,422
Notes payable⁽²⁾	294
Advance facilities	13
Warehouse facilities	393
Payables and other liabilities	530
Other nonrecourse debt	129
Fair value of liabilities assumed	1,359
Total fair value of net tangible assets acquired	63
Intangible assets:
Customer relationships⁽³⁾	13
Goodwill	40
Preliminary purchase price	$	116


⁽¹⁾	Estimated Fair Value of Net Assets Acquired is subject to change due to dispute of purchase price.


⁽²⁾	Notes payable was subsequently paid off in February 2019 after the consummation of the acquisition.


⁽³⁾	The estimated fair values for customer relationships were measured using the excess earnings method and were determined to have a remaining useful life of 10 years.

Pro Forma Information

The following unaudited pro forma financial information presents the combined results of operations for the three and six months ended June 30, 2019, as if the acquisition had occurred on January 1

Schedule of Business Acquisitions

The table below presents the calculation of aggregate purchase price.



Purchase Price:
Converted WMIH common shares (prior to reverse stock split) in millions	394
Price per share, based on price of $1.398 for WMIH stock on July 31, 2018	$	1.398
Purchase price from common stock issued	551
Purchase price from cash payment	1,226
Total purchase price	$	1,777

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Mortgage Servicing Rights ("MSRs") and Related Liabilities (Tables)

6 Months Ended

Jun. 30, 2019

Transfers and Servicing [Abstract]

Schedule of Servicing Assets at Fair Value

The following table provides a breakdown of credit sensitive and interest sensitive unpaid principal balance (“UPB”) for the Company’s forward MSRs.



	Successor
	June 30, 2019				December 31, 2018
MSRs - Sensitivity Pools	UPB		Fair Value		UPB		Fair Value
Credit sensitive	$	167,381	$	1,797	$	135,752	$	1,495
Interest sensitive	148,631		1,708		159,729		2,170
Total	$	316,012	$	3,505	$	295,481	$	3,665

The following table sets forth the carrying value of the Company’s mortgage servicing rights (“MSRs”) and the related liabilities.



	Successor
MSRs and Related Liabilities	June 30, 2019		December 31, 2018
Forward MSRs - fair value	$	3,505	$	3,665
Reverse MSRs - amortized cost	6		11
Mortgage servicing rights	$	3,511	$	3,676

Mortgage servicing liabilities - amortized cost	$	80	$	71

Excess spread financing - fair value	$	1,429	$	1,184
Mortgage servicing rights financing - fair value	43		32
MSR related liabilities - nonrecourse at fair value	$	1,472	$	1,216

The following table sets forth the activities of forward MSRs.



	Successor			Predecessor
MSRs - Fair Value	Six Months Ended June 30, 2019			Six Months Ended June 30, 2018
Fair value - beginning of period	$	3,665		$	2,937
Additions:
Servicing retained from mortgage loans sold	169			139
Purchases of servicing rights⁽¹⁾	689			132
Dispositions:
Sales of servicing assets	(294		)	4
Changes in fair value:
Changes in valuation inputs or assumptions used in the valuation model	(542		)	283
Other changes in fair value	(182		)	(139		)
Fair value - end of period	$	3,505		$	3,356

⁽¹⁾

Schedule of Assumptions for Fair Value of Mortgage Service Rights

The following table sets forth the weighted average assumptions used in the valuation of the mortgage servicing rights financing liability.



	Successor
Mortgage Servicing Rights Financing Assumptions	June 30, 2019		December 31, 2018
Advance financing rates	3.7	%	4.2	%
Annual advance recovery rates	19.3	%	19.0	%

The Company used the following weighted-average assumptions in the Company’s valuation of excess spread financing.



	Successor
	June 30, 2019		December 31, 2018
Excess Spread Financing
Discount rate	9.6	%	10.4	%
Prepayment speeds	13.1	%	11.0	%
Recapture rate	20.2	%	18.6	%
Average life	5.7 years		6.5 years

The Company used the following key weighted-average inputs and assumptions in estimating the fair value of MSRs.



	Successor
	June 30, 2019		December 31, 2018
Credit Sensitive
Discount rate	10.6	%	11.3	%
Prepayment speeds	13.5	%	11.8	%
Average life	5.9 years		6.4 years

Interest Sensitive
Discount rate	8.9	%	9.3	%
Prepayment speeds	13.9	%	10.0	%
Average life	5.6 years		7.0 years

Total MSR Portfolio
Discount rate	9.7	%	10.2	%
Prepayment speeds	13.7	%	10.8	%
Average life	5.8 years		6.7 years

Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets

The following table shows the hypothetical effect on the fair value of the Successor’s MSRs when applying certain unfavorable variations of key assumptions to these assets for the dates indicated.



	Successor
	Discount Rate						Total Prepayment Speeds
MSRs - Hypothetical Sensitivities	100 bps Adverse Change			200 bps Adverse Change			10% Adverse Change			20% Adverse Change
June 30, 2019
Mortgage servicing rights	$	(127	)	$	(245	)	$	(169	)	$	(325	)

December 31, 2018
Mortgage servicing rights	$	(137	)	$	(265	)	$	(129	)	$	(250	)



	Successor
	Discount Rate				Prepayment Speeds
Excess Spread Financing - Hypothetical Sensitivities	100 bps Adverse Change		200 bps Adverse Change		10% Adverse Change		20% Adverse Change
June 30, 2019
Excess spread financing	$	53	$	111	$	58	$	121

December 31, 2018
Excess spread financing	$	47	$	99	$	38	$	81

Schedule of Fees Earned in Exchange for Servicing Financial Assets

The following table sets forth the items comprising revenues associated with servicing loan portfolios.



	Successor						Predecessor
Servicing Revenue	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019			Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
Contractually specified servicing fees⁽¹⁾	$	307		$	588		$	245		$	495
Other service-related income⁽¹⁾⁽²⁾	32			82			28			56
Incentive and modification income⁽¹⁾	10			17			18			33
Late fees⁽¹⁾	27			52			22			46
Reverse servicing fees	8			17			14			33
Mark-to-market adjustments⁽³⁾	(231		)	(524		)	19			171
Counterparty revenue share⁽⁴⁾	(70		)	(118		)	(50		)	(95		)
Amortization, net of accretion⁽⁵⁾	(56		)	(79		)	(48		)	(96		)
Total servicing revenue	$	27		$	35		$	248		$	643


⁽¹⁾	Amounts include subservicing related revenues.


⁽²⁾	Amount for the six months ended June 30, 2019 includes a gain of $21 from the execution of a clean-up call option on a reverse mortgage loan trust, as the Company was the master servicer and holder of clean-up call rights.

⁽³⁾


⁽⁴⁾	Counterparty revenue share represents the excess servicing fee that the Company pays to the counterparties under the excess spread financing arrangements and the payments made associated with MSRs financing arrangements.

⁽⁵⁾

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Advances and Other Receivables, Net (Tables)

6 Months Ended

Jun. 30, 2019

Receivables [Abstract]

Schedule of Accounts Receivable

The following table sets forth the activities of the reserves for advances and other receivables.



	Successor						Predecessor
Reserves for Advances and Other Receivables	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019			Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
Balance - beginning of period	$	71		47			$	277		$	284
Provision and other additions⁽¹⁾	37			67			38			60
Write-offs	(10		)	(16		)	(21		)	(50		)
Balance - end of period	$	98		$	98		$	294		$	294

⁽¹⁾

Advances and other receivables, net consists of the following.



	Successor
	June 30, 2019			December 31, 2018
Servicing advances, net of $156 and $205 discount, respectively	$	878		$	1,000
Receivables from agencies, investors and prior servicers, net of $48 and $48 discount, respectively	220			241
Reserves	(98		)	(47		)
Total advances and other receivables, net	$	1,000		$	1,194

The following table sets forth the activities of the purchase discounts for advances and other receivables.



	Successor
	Three Months Ended June 30, 2019					Six Months Ended June 30, 2019
Purchase Discounts	Servicing Advances			Receivables from Agencies, Investors and Prior Servicers		Servicing Advances			Receivables from Agencies, Investors and Prior Servicers
Balance - beginning of period	$	169		$	48	$	205		$	48
Addition from acquisition	—			—		19			—
Utilization of purchase discounts	(13		)	—		(68		)	—
Balance - end of period	$	156		$	48	$	156		$	48

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Reverse Mortgage Interests, Net (Tables)

6 Months Ended

Jun. 30, 2019

Reverse Mortgage Interests [Abstract]

Reverse Mortgage Interest

Unsecuritized interests in reverse mortgages consist of the following:



	Successor
	June 30, 2019			December 31, 2018
Repurchased HECM loans (exceeds 98% MCA)	$	896		$	949
HECM related receivables	281			300
Funded borrower draws not yet securitized	48			76
REO-related receivables	15			16
Purchase discount	(97		)	(122		)
Total unsecuritized interests	$	1,143		$	1,219

Reverse mortgage interests, net consists of the following:



	Successor
Reverse Mortgage Interests, Net	June 30, 2019			December 31, 2018
Participating interests in HECM mortgage-backed securities (“HMBS”), net of $18 and $58 premium, respectively	$	4,952		$	5,664
Other interests securitized, net of $84 and $100 discount, respectively	1,023			1,064
Unsecuritized interests, net of $97 and $122 discount, respectively	1,143			1,219
Reserves	(8		)	(13		)
Total reverse mortgage interests, net	$	7,110		$	7,934

The activity of the reserves for reverse mortgage interests is set forth below.



	Successor						Predecessor
Reserves for reverse mortgage interests	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019			Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
Balance - beginning of period	$	8		$	13		$	134		$	115
Provision (release), net	2			2			(6		)	20
Write-offs	(2		)	(7		)	(11		)	(18		)
Balance - end of period	$	8		$	8		$	117		$	117

The following table sets forth the activities of the purchase premiums and discounts for reverse mortgage interests.



	Successor
	Three Months Ended June 30, 2019
Purchase premiums and discounts for reverse mortgage interests	Net Premium for Participating Interests in HMBS⁽¹⁾			Net Discount for Other Interest Securitized⁽¹⁾			Net Discount for Unsecuritized Interests⁽¹⁾
Balance - beginning of period	$	36		$	(112	)	$	(95	)
Utilization of purchase discounts	—			7			5
(Amortization)/Accretion	(23		)	28			(9		)
Transfers⁽³⁾	5			(7		)	2
Balance - end of period	$	18		$	(84	)	$	(97	)



	Successor
	Six Months Ended June 30, 2019
Purchase premiums and discounts for reverse mortgage interests	Net Premium for Participating Interests in HMBS⁽¹⁾			Net Discount for Other Interest Securitized⁽¹⁾			Net Discount for Unsecuritized Interests⁽¹⁾
Balance - beginning of period	$	58		$	(100	)	$	(122	)
Adjustments⁽²⁾	(16		)	(2		)	(6		)
Utilization of purchase discounts	—			13			27
(Amortization)/Accretion	(37		)	13			9
Transfers⁽³⁾	13			(8		)	(5		)
Balance - end of period	$	18		$	(84	)	$	(97	)


⁽¹⁾	Net position as certain items are in a premium/(discount) position, based on the characteristics of underlying tranches of loans.


⁽²⁾	Adjustments to premium/(discount) due to revised cost to service assumption utilized in the valuation of reverse mortgage assets and liabilities acquired from the Merger. See Note 2, Acquisitions for additional information.


⁽³⁾	Transfer of premium/(discount) based on the transfer of associated loans between categories consistent with the underlying loan characteristics.



	Predecessor
Purchase discounts for reverse mortgage interests	Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
Balance - beginning of period	$	(90	)	$	(89	)
Additions	—			(7		)
Accretion	6			12
Balance - end of period	$	(84	)	$	(84	)

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Mortgage Loans Held for Sale and Investment (Tables)

6 Months Ended

Jun. 30, 2019

Mortgage Loans Held for Sale and Investment [Abstract]

Schedule of Mortgage Loans Held-for-Sale

The total UPB of mortgage loans held for sale on non-accrual status was as follows:



	Successor
	June 30, 2019				December 31, 2018
Mortgage Loans Held for Sale - UPB	UPB		Fair Value		UPB		Fair Value
Non-accrual⁽¹⁾	$	26	$	24	$	45	$	42


⁽¹⁾	Non-accrual includes $21 and $40 of UPB related to Ginnie Mae repurchased loans as of June 30, 2019 and December 31, 2018, respectively.

Mortgage loans held for sale are recorded at fair value as set forth below.



	Successor
	June 30, 2019		December 31, 2018
Mortgage loans held for sale – UPB	$	3,268	$	1,568
Mark-to-market adjustment⁽¹⁾	154		63
Total mortgage loans held for sale	$	3,422	$	1,631


⁽¹⁾	The mark-to-market adjustment is recorded in net gain on mortgage loans held for sale in the consolidated statements of operations.

Reconciliation of Mortgage Loans Held-for-Sale to Cash Flow

The following table details a roll forward of the change in the account balance of mortgage loans held for sale.



	Successor			Predecessor
Mortgage loans held for sale	Six Months Ended June 30, 2019			Six Months Ended June 30, 2018
Balance - beginning of period	$	1,631		$	1,891
Mortgage loans originated and purchased, net of fees⁽¹⁾	16,257			10,630
Loans sold	(15,203		)	(11,377		)
Repurchase of loans out of Ginnie Mae securitizations	715			475
Transfer of mortgage loans held for sale to advances/accounts receivable, net related to claims⁽²⁾	(7		)	(6		)
Net transfer of mortgage loans held for sale from REO in other assets⁽³⁾	7			12
Changes in fair value	16			1
Other purchase-related activities⁽⁴⁾	6			9
Balance - end of period	$	3,422		$	1,635


⁽¹⁾	Mortgage loans originated and purchased during the six months ended June 30, 2019 includes $536 of loans held for sale that were acquired from Pacific Union. See Note 2, Acquisitions for further discussion.


⁽²⁾	Amounts are comprised of claims made on certain government insured mortgage loans upon completion of the REO sale.


⁽³⁾	Net amounts are comprised of REO in the sales process, which are transferred to other assets, and certain government insured mortgage REO, which are transferred from other assets upon completion of the sale so that the claims process can begin.


⁽⁴⁾	Amounts are comprised primarily of non-Ginnie Mae loan purchases and buyouts.

Schedule of Loans Held for Investment

The total UPB of mortgage loans held for investment on non-accrual status was as follows.



	Successor
	June 30, 2019				December 31, 2018
Mortgage Loans Held for Investment - UPB	UPB		Fair Value		UPB		Fair Value
Non-accrual	$	21	$	10	$	27	$	13

The following table sets forth the activities of mortgage loans held for investment.



	Successor
Mortgage loans held for investment at fair value	Six Months Ended June 30, 2019
Balance - beginning of period	$	119
Payments received from borrowers	(8		)
Changes in fair value	3
Balance - end of period	$	114

The following sets forth the composition of mortgage loans held for investment.



	Successor
	June 30, 2019			December 31, 2018
Mortgage loans held for investment – UPB	$	148		$	156
Fair value adjustments	(34		)	(37		)
Total mortgage loans held for investment at fair value	$	114		$	119

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Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Lease costs

The table below summarizes other information related to the Company’s operating leases:



	Successor
	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	7		$	13
Leased assets obtained in exchange for new operating lease liabilities	$	28		$	155
Weighted average remaining lease term - operating leases, in years	5.7			6.1
Weighted average discount rate - operating leases	5.0		%	5.0		%

The table below summarizes the Company’s net lease cost:



	Successor
	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019
Operating lease cost	$	11		$	19
Short-term lease cost⁽¹⁾	—			1
Sublease income	(1		)	(1		)
Net lease cost	$	10		$	19

⁽¹⁾ Amount for three months ended June 30, 2019 is less than $1.

Lease Maturity, Operating

Maturities of operating lease liabilities as of June 30, 2019 are as follows:



Year Ending December 31,	Operating Leases
2019⁽¹⁾	$	19
2020	40
2021	32
2022	23
2023	18
2024 and thereafter	19
Total minimum lease payments	151
Less: imputed interest	3
Total operating lease liabilities	$	148


⁽¹⁾	Excluding the six months ended June 30, 2019.

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Other Assets (Tables)

6 Months Ended

Jun. 30, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets

Other assets consist of the following:



	Successor
	June 30, 2019		December 31, 2018
Loans subject to repurchase from Ginnie Mae	$	723	$	266
Accrued revenues	136		145
Right-of-use assets	139		—
Intangible assets	105		117
Goodwill	120		23
Other	306		244
Total other assets	$	1,529	$	795

Schedule of Goodwill

The table below presents changes in the carrying amount of goodwill for the six months ended June 30, 2019.



	Successor
	Six Months Ended June 30, 2019
Balance - beginning of period	$	23
Additions from acquisitions⁽¹⁾	42
Measurement period adjustment related to Merger⁽²⁾	55
Balance - end of period	$	120

⁽¹⁾


⁽²⁾	The Company recorded a total measurement period adjustment of $55 to goodwill in 2019 related to the acquisition of Nationstar. See further discussion in Note 2, Acquisitions

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Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table provides the outstanding notional balances, fair values of outstanding positions and recorded gains/(losses).



		Successor
		June 30, 2019				Six Months Ended June 30, 2019
	Expiration Dates	Outstanding Notional		Fair Value		Recorded Gains/(Losses)
Assets
Mortgage loans held for sale
Loan sale commitments	2019	$	1,659	$	47.0	$	21.1
Derivative financial instruments
IRLCs	2019	3,649		110.2		50.5
Forward sales of MBS	2019	762		1.1		(0.7		)
LPCs	2019	1,327		16.5		14.8
Eurodollar futures⁽¹⁾	2019-2021	8		—		—
Liabilities
Derivative financial instruments
IRLCs⁽¹⁾	2019	4		—		—
Forward sales of MBS	2019	4,932		30.3		6.4
LPCs	2019	212		1.3		0.8
Eurodollar futures⁽¹⁾	2019-2021	12		—		—



		Predecessor
		June 30, 2018				Six Months Ended June 30, 2018
	Expiration Dates	Outstanding Notional		Fair Value		Recorded Gains/(Losses)
Assets
Mortgage loans held for sale
Loan sale commitments	2018	$	368	$	7.2	$	7.1
Derivative financial instruments
IRLCs	2018	1,778		60.2		0.9
Forward sales of MBS	2018	568		0.4		(2.0		)
LPCs	2018	271		1.7		0.8
Treasury futures	2018	35		0.1		(1.8		)
Eurodollar futures⁽¹⁾	2018-2021	22		—		—
Liabilities
Derivative financial instruments
IRLCs⁽¹⁾	2018	1		—		—
Forward sales of MBS	2018	2,710		8.0		5.2
LPCs	2018	185		0.7		0.1
Treasury futures⁽¹⁾	2018	63		—		(1.4		)
Eurodollar futures⁽¹⁾	2020-2021	6		—		—


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

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Indebtedness (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Notes Payable

Notes Payable



						Successor
						June 30, 2019					December 31, 2018
Advance Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding			Collateral Pledged		Outstanding		Collateral pledged
Nationstar mortgage advance receivable trust	LIBOR + 1.5% to 6.5%	August 2021	Servicing advance receivables	$	325	$	229		$	290	$	209	$	284
Nationstar agency advance receivable trust	LIBOR + 1.5% to 2.6%	December 2020	Servicing advance receivables	250		162			194		218		255
MBS servicer advance facility (2014)	LIBOR + 2.5%	December 2019	Servicing advance receivables	200		90			131		90		149
Nationstar agency advance financing facility	LIBOR + 1.5% to 7.4%	July 2020	Servicing advance receivables	125		87			99		78		89
Advance facilities principal amount						568			$	714	595		$	777
Unamortized debt issuance costs						(1		)			—
Advance facilities, net						$	567				$	595



						Successor
						June 30, 2019					December 31, 2018
Warehouse Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding			Collateral pledged		Outstanding			Collateral pledged
$1,200 warehouse facility	LIBOR + 1.7% to 3.5%	November 2019	Mortgage loans or MBS	$	1,200	$	715		$	762	$	560		$	622
$1,000 warehouse facility	LIBOR + 1.6% to 2.5%	September 2019	Mortgage loans or MBS	1,000		629			646		137			140
$750 warehouse facility	LIBOR + 1.4% to 2.8%	August 30, 2019	Mortgage loans or MBS	750		416			424		119			122
$800 warehouse facility⁽¹⁾	LIBOR + 1.5% to 2.9%	April 2020	Mortgage loans or MBS	800		531			576		464			514
$600 warehouse facility	LIBOR + 2.3%	February 2020	Mortgage loans or MBS	600		226			258		151			168
$500 warehouse facility	LIBOR + 1.5% to 3.0%	April 2020	Mortgage loans or MBS	500		382			395		187			200
$500 warehouse facility	LIBOR + 1.5% to 2.8%	November 2019	Mortgage loans or MBS	500		377			410		220			248
$500 warehouse facility	LIBOR + 2.0% to 2.3%	September 2020	Mortgage loans or MBS	500		49			51		290			299
$200 warehouse facility	LIBOR + 1.0%	June 2020	Mortgage loans or MBS	200		194			187		—			—
$200 warehouse facility	LIBOR + 1.5%	December 2019	Mortgage loans or MBS	200		107			103		—			—
$200 warehouse facility	LIBOR + 1.5%	October 2019	Mortgage loans or MBS	200		104			103		—			—
$200 warehouse facility	LIBOR + 2.0%	January 2020	Mortgage loans or MBS	200		88			116		103			132
$200 warehouse facility	LIBOR + 1.2%	April 2021	Mortgage loans or MBS	200		32			33		18			19
$50 warehouse facility	LIBOR + 2.7% to 7.5%	April 2020	Mortgage loans or MBS	50		5			7		—			—
$40 warehouse facility	LIBOR + 3.0%	November 2019	Mortgage loans or MBS	40		1			2		1			2
Warehouse facilities principal amount						3,856			4,073		2,250			2,466
MSR Facility
$400 warehouse facility	LIBOR + 3.5% to 6.1%	June 2021	MSR	400		150			786		100			928
$400 warehouse facility	LIBOR + 2.3%	December 2020	MSR	400		25			215		—			226
$150 warehouse facility⁽¹⁾	LIBOR + 2.8%	April 2020	MSR	150		—			121		—			430
$50 warehouse facility	LIBOR + 2.8%	August 2020	MSR	50		15			92		—			102
						190			1,214		100			1,686
Warehouse facilities principal amount						4,046			$	5,287	2,350			$	4,152

Unamortized debt issuance costs						(1		)			(1		)
Warehouse facilities, net						$	4,045				$	2,349

Pledged Collateral:
Mortgage loans and mortgage loans held for investment						$	3,204		$	3,319	$	1,528		$	1,628
Reverse mortgage interests						652			754		722			838
MSR						190			1,214		100			1,686


⁽¹⁾	Total capacity amount for this facility is $800 of which $150 is a sublimit for MSR financing.

Schedule of Unsecured Senior Notes

Unsecured senior notes consist of the following:



	Successor
	June 30, 2019			December 31, 2018
$950 face value, 8.125% interest rate payable semi-annually, due July 2023	$	950		$	950
$750 face value, 9.125% interest rate payable semi-annually, due July 2026	750			750
$600 face value, 6.500% interest rate payable semi-annually, due July 2021	592			592
$300 face value, 6.500% interest rate payable semi-annually, due June 2022	206			206
Unsecured senior notes principal amount	2,498			2,498
Unamortized debt issuance costs, net of premium, and discount	(36		)	(39		)
Unsecured senior notes, net	$	2,462		$	2,459

Schedule of Maturities of Long-term Debt

As of June 30, 2019, the expected maturities of the Company’s unsecured senior notes based on contractual maturities are as follows:



Year Ending December 31,	Amount
2019	$	—
2020	—
2021	592
2022	206
2023	950
Thereafter	750
Total	$	2,498

Schedule of Other Nonrecourse Debt

Other nonrecourse debt consists of the following:



						Successor
						June 30, 2019		December 31, 2018
	Issue Date	Maturity Date	Class of Note	Securitized Amount		Outstanding		Outstanding
Participating interest financing⁽¹⁾	—	—	—	$	—	$	4,861	$	5,607
Securitization of nonperforming HECM loans
Trust 2017-2⁽²⁾	September 2017	September 2027	A, M1, M2	—		—		231
Trust 2018-1	March 2018	March 2028	A, M1, M2, M3, M4, M5	252		224		284
Trust 2018-2	August 2018	August 2028	A, M1, M2, M3, M4, M5	198		182		250
Trust 2018-3	November 2018	November 2028	A, M1, M2, M3, M4, M5	284		272		326
Trust 2019-1	June 2019	June 2029	A, M1, M2, M3, M4, M5	398		398		—
Nonrecourse Debt - Legacy	November 2009	October 2039	A	97		22		29
Other nonrecourse debt principal amount						5,959		6,727
Unamortized debt issuance costs, premium, and issuance discount						26		68
Other nonrecourse debt, net						$	5,985	$	6,795


⁽¹⁾	Amounts represent the Company’s participating interest in GNMA HMBS securitized portfolios.


⁽²⁾	As discussed in Note 5, Reverse Mortgage Interests, Net, Trust 2017-2 was extinguished.

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Payables and Other Liabilities (Tables)

6 Months Ended

Jun. 30, 2019

Payables and Accruals [Abstract]

Schedule of Payables and Accrued Liabilities

Payables and other liabilities consist of the following:



	Successor
	June 30, 2019		December 31, 2018
Loans subject to repurchase from Ginnie Mae	$	723	$	266
Payables to servicing and subservicing investors	625		494
Operating lease liabilities	148		—
Payables to GSEs and securitized trusts	42		105
MSR purchases payable including advances	24		182
Other liabilities	554		496
Total payables and other liabilities	$	2,116	$	1,543

Schedule of Loans Subject to Repurchase Reserve



	Successor						Predecessor
Repurchase Reserves	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019			Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
Balance - beginning of period	$	16		$	8		$	9		$	9
Provisions⁽¹⁾	8			16			2			3
Releases	(1		)	(1		)	(2		)	(3		)
Balance - end of period	$	23		$	23		$	9		$	9


⁽¹⁾	Provision for the six months ended June 30, 2019 is primarily due to repurchase reserve liabilities assumed in connection with the acquisition of Pacific Union. See Note 2, Acquisitions for additional information.

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Securitizations and Financings (Tables)

6 Months Ended

Jun. 30, 2019

Variable Interest Entities and Securitizations [Abstract]

Schedule of Assets and Liabilities of VIEs Included in Financial Statements



	Successor
	June 30, 2019		December 31, 2018
Total collateral balances	$	1,752	$	1,873
Total certificate balances	$	1,697	$	1,817

A summary of mortgage loans transferred by the Company to unconsolidated securitization trusts that are 60 days or more past due are presented below.



	Successor
Principal Amount of Loans 60 Days or More Past Due	June 30, 2019		December 31, 2018
Unconsolidated securitization trusts	$	242	$	285

A summary of the assets and liabilities of the Company’s transactions with VIEs included in the Company’s consolidated financial statements is presented below.



	Successor
	June 30, 2019				December 31, 2018
	Transfers Accounted for as Secured Borrowings		Reverse Secured Borrowings		Transfers Accounted for as Secured Borrowings		Reverse Secured Borrowings
Assets
Restricted cash	$	59	$	40	$	70	$	63
Reverse mortgage interests, net	—		5,975		—		6,728
Advances and other receivables, net	583		—		628		—
Mortgage loans held for investment, net	113		—		118		—
Other assets	—		9		—		—
Total assets	$	755	$	6,024	$	816	$	6,791

Liabilities
Advance facilities⁽¹⁾	$	478	$	—	$	505	$	—
Payables and other liabilities	1		—		1		1
Participating interest financing	—		4,861		—		5,607
HECM Securitizations (HMBS)
Trust 2017-2	—		—		—		231
Trust 2018-1	—		224		—		284
Trust 2018-2	—		182		—		250
Trust 2018-3	—		272		—		326
Trust 2019-1	—		398		—		—
Nonrecourse debt–legacy assets	22		—		29		—
Total liabilities	$	501	$	5,937	$	535	$	6,699


⁽¹⁾	Advance facilities include the Nationstar agency advance financing facility and notes payable recorded by the Nationstar Mortgage Advance Receivable Trust, and the Nationstar Agency Advance Receivables Trust. Refer to Notes Payable in Note 10, Indebtedness, for additional information.

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Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

The following table sets forth the computation of basic and diluted net (loss) income per common share (amounts in millions, except per share amounts).



	Successor						Predecessor
	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019			Three Months Ended June 30, 2018		Six Months Ended June 30, 2018
Net (loss) income attributable to Successor/Predecessor	$	(87	)	$	(273	)	$	58	$	218
Less: Undistributed earnings attributable to participating stockholders	—			—			—		—
Net (loss) income attributable to common stockholders	$	(87	)	$	(273	)	$	58	$	218

Net (loss) income per common share attributable to Successor/Predecessor:
Basic	$	(0.96	)	$	(3.00	)	$	0.59	$	2.22
Diluted	$	(0.96	)	$	(3.00	)	$	0.59	$	2.20

Weighted average shares of common stock outstanding (in thousands):
Basic	91,054			90,978			98,203		98,037
Dilutive effect of stock awards	—			—			927		1,086
Dilutive effect of participating securities	—			—			—		—
Diluted	91,054			90,978			99,130		99,123

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Income Taxes (Tables)

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

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



	Successor						Predecessor
	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019			Three Months Ended June 30, 2018			Six Months Ended June 30, 2018
(Loss) income before income tax (benefit) expense	$	(117	)	$	(350	)	$	79		$	285

Income tax (benefit) expense	$	(29	)	$	(76	)	$	21		$	67

Effective tax rate	24.6		%	21.7		%	26.5		%	23.6		%

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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the estimated carrying amount and fair value of the Company’s financial instruments and other assets and liabilities measured at fair value on a recurring basis.



	Successor
	June 30, 2019
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans held for sale⁽¹⁾	$	3,421.6	$	—	$	3,421.6	$	—
Mortgage loans held for investment⁽¹⁾	114.3		—		—		114.3
Mortgage servicing rights⁽¹⁾	3,504.5		—		—		3,504.5
Derivative financial instruments
IRLCs	110.2		—		110.2		—
Forward MBS trades	1.1		—		1.1		—
LPCs	16.5		—		16.5		—
Eurodollar futures⁽²⁾	—		—		—		—
Total assets	$	7,168.2	$	—	$	3,549.4	$	3,618.8
Liabilities
Derivative financial instruments
IRLCs⁽²⁾	$	—	$	—	$	—	$	—
Forward MBS trades	30.3		—		30.3		—
LPCs	1.3		—		1.3		—
Eurodollar futures⁽²⁾	—		—		—		—
Mortgage servicing rights financing	42.6		—		—		42.6
Excess spread financing	1,429.4		—		—		1,429.4
Total liabilities	$	1,503.6	$	—	$	31.6	$	1,472.0


⁽¹⁾	Based on the nature and risks of the underlying assets and liabilities, the fair value is presented for the aggregate account.


⁽²⁾	Fair values of the underlying assets and liabilities are less than $0.1 for the specified dates.



	Successor
	December 31, 2018
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans held for sale⁽¹⁾	$	1,630.8	$	—	$	1,630.8	$	—
Mortgage loans held for investment⁽¹⁾	119.1		—		—		119.1
Forward mortgage servicing rights⁽¹⁾	3,665.4		—		—		3,665.4
Derivative financial instruments
IRLCs	47.6		—		47.6		—
Forward MBS trades	0.1		—		0.1		—
LPCs	1.7		—		1.7		—
Eurodollar futures⁽²⁾	—		—		—		—
Total assets	$	5,464.7	$	—	$	1,680.2	$	3,784.5
Liabilities
Derivative financial instruments
Forward MBS trades	$	19.3	$	—	$	19.3	$	—
LPCs	0.4		—		0.4		—
Eurodollar futures⁽²⁾	—		—		—		—
Mortgage servicing rights financing	31.7		—		—		31.7
Excess spread financing	1,184.4		—		—		1,184.4
Total liabilities	$	1,235.8	$	—	$	19.7	$	1,216.1


⁽¹⁾	Based on the nature and risks of the underlying assets and liabilities, the fair value is presented for the aggregate account.


⁽²⁾	Fair values of the underlying assets and liabilities are less than $0.1 for the specified dates.

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The table below presents a reconciliation for all of the Company and Predecessor’s Level 3 assets and liabilities measured at fair value on a recurring basis.



	Successor
	Assets						Liabilities
Six Months Ended June 30, 2019	Mortgage servicing rights			Mortgage loans held for investment			Excess spread financing			Mortgage servicing rights financing
Balance - beginning of period	$	3,665		$	119		$	1,184		$	32
Total gains or losses included in earnings	(724		)	3			(74		)	11
Payments received from borrowers	—			(8		)	—			—
Purchases, issuances, sales, repayments and settlements
Purchases	689			—			—			—
Issuances	169			—			438			—
Sales	(294		)	—			—			—
Repayments	—			—			(12		)	—
Settlements	—			—			(107		)	—
Balance - end of period	$	3,505		$	114		$	1,429		$	43



	Predecessor
	Assets		Liabilities
Six Months Ended June 30, 2018	Mortgage servicing rights		Excess spread financing			Mortgage servicing rights financing
Balance - beginning of period	$	2,937	$	996		$	10
Total gains or losses included in earnings	144		74			6
Purchases, issuances, sales, repayments and settlements
Purchases	132		—			—
Issuances	139		70			—
Sales	4		—			—
Repayments	—		(2		)	—
Settlements	—		(91		)	—
Balance - end of period	$	3,356	$	1,047		$	16

Fair Value, by Balance Sheet Grouping

The table below presents a summary of the estimated carrying amount and fair value of the Company’s financial instruments.



	Successor
	June 30, 2019
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	245	$	245	$	—	$	—
Restricted cash	304		304		—		—
Advances and other receivables, net	1,000		—		—		1,000
Reverse mortgage interests, net	7,110		—		—		7,176
Mortgage loans held for sale	3,422		—		3,422		—
Mortgage loans held for investment, net	114		—		—		114
Derivative financial instruments	128		—		128		—
Financial liabilities
Unsecured senior notes	2,462		2,529		—		—
Advance facilities	567		—		567		—
Warehouse facilities	4,045		—		4,045		—
Mortgage servicing rights financing liability	43		—		—		43
Excess spread financing	1,429		—		—		1,429
Derivative financial instruments	32		—		32		—
Participating interest financing	4,887		—		—		4,886
HECM Securitization (HMBS)
Trust 2018-1	224		—		—		224
Trust 2018-2	182		—		—		182
Trust 2018-3	272		—		—		272
Trust 2019-1	398		—		—		398
Nonrecourse debt - legacy assets	22		—		—		22



	Successor
	December 31, 2018
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	242	$	242	$	—	$	—
Restricted cash	319		319		—		—
Advances and other receivables, net	1,194		—		—		1,194
Reverse mortgage interests, net	7,934		—		—		7,942
Mortgage loans held for sale	1,631		—		1,631		—
Mortgage loans held for investment, net	119		—		—		119
Derivative financial instruments	49		—		49		—
Financial liabilities
Unsecured senior notes	2,459		2,451		—		—
Advance facilities	595		—		595		—
Warehouse facilities	2,349		—		2,349		—
Mortgage servicing rights financing liability	32		—		—		32
Excess spread financing	1,184		—		—		1,184
Derivative financial instruments	20		—		20		—
Participating interest financing	5,675		—		—		5,672
HECM Securitization (HMBS)
Trust 2017-2	231		—		—		230
Trust 2018-1	284		—		—		284
Trust 2018-2	250		—		—		249
Trust 2018-3	326		—		—		326
Nonrecourse debt - legacy assets	29		—		—		28

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Business Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables present financial information by segment.



	Successor
	Three Months Ended June 30, 2019
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	27		$	20		$	108	$	(18	)	$	137		$	—		$	137
Net gain on mortgage loans held for sale	—			244			—		18			262			—			262
Total revenues	27			264			108		—			399			—			399
Total Expenses	189			145			101		—			435			57			492
Other income (expenses)
Interest income	136			23			—		—			159			3			162
Interest expense	(109		)	(25		)	—		—			(134		)	(53		)	(187		)
Other	—			1			—		—			1			—			1
Total Other Income (Expenses), Net	27			(1		)	—		—			26			(50		)	(24		)
(Loss) income before income tax (benefit) expense	$	(135	)	$	118		$	7	$	—		$	(10	)	$	(107	)	$	(117	)
Depreciation and amortization for property and equipment and intangible assets	$	4		$	6		$	3	$	—		$	13		$	11		$	24
Total assets	$	12,806		$	7,478		$	493	$	(4,687	)	$	16,090		$	2,315		$	18,405



	Predecessor
	Three Months Ended June 30, 2018
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	248		$	17		$	62	$	(11	)	$	316		$	1		$	317
Net gain on mortgage loans held for sale	—			116			—		11			127			—			127
Total revenues	248			133			62		—			443			1			444
Total Expenses	166			102			52		—			320			19			339
Other income (expenses)
Interest income	121			17			—		—			138			2			140
Interest expense	(115		)	(16		)	—		—			(131		)	(33		)	(164		)
Other	—			—			—		—			—			(2		)	(2		)
Total Other Income (Expenses), Net	6			1			—		—			7			(33		)	(26		)
Income (loss) before income tax expense (benefit)	$	88		$	32		$	10	$	—		$	130		$	(51	)	$	79
Depreciation and amortization for property and equipment and intangible assets	$	6		$	3		$	3	$	—		$	12		$	2		$	14
Total assets	$	14,640		$	4,794		$	423	$	(3,538	)	$	16,319		$	871		$	17,190


⁽¹⁾	For Servicing segment results purposes, all revenue is attributable to servicing portfolio. Therefore, $18 and $11 of net gain on mortgage loans is moved to service related, net during the three months ended June 30, 2019 and 2018, respectively. For consolidated results purposes, these amounts were reclassed back to net gain on mortgage loans held for sale.



	Successor
	Six Months Ended June 30, 2019
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	35		$	35		$	204	$	(53	)	$	221		$	—		$	221
Net gain on mortgage loans held for sale	—			375			—		53			428			—			428
Total revenues	35			410			204		—			649			—			649
Total Expenses	384			249			200		—			833			102			935
Other income (expenses)
Interest income	251			40			—		—			291			5			296
Interest expense	(223		)	(43		)	—		—			(266		)	(110		)	(376		)
Other	—			5			11		—			16			—			16
Total Other Income (Expenses), Net	28			2			11		—			41			(105		)	(64		)
(Loss) income before income tax (benefit) expense	$	(321	)	$	163		$	15	$	—		$	(143	)	$	(207	)	$	(350	)
Depreciation and amortization for property and equipment and intangible assets	$	8		$	9		$	7	$	—		$	24		$	21		$	45
Total assets	$	12,806		$	7,478		$	493	$	(4,687	)	$	16,090		$	2,315		$	18,405



	Predecessor
	Six Months Ended June 30, 2018
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	643		$	32		$	127	$	(22	)	$	780		$	1		$	781
Net gain on mortgage loans held for sale	—			229			—		22			251			—			251
Total revenues	643			261			127		—			1,031			1			1,032
Total Expenses	348			211			104		—			663			40			703
Other income (expenses)
Interest income	247			32			—		—			279			6			285
Interest expense	(233		)	(31		)	—		—			(264		)	(71		)	(335		)
Other	(1		)	—			9		—			8			(2		)	6
Total Other Income (Expenses), Net	13			1			9		—			23			(67		)	(44		)
Income (loss) before income tax expense (benefit)	$	308		$	51		$	32	$	—		$	391		$	(106	)	$	285
Depreciation and amortization for property and equipment and intangible assets	$	13		$	6		$	6	$	—		$	25		$	4		$	29
Total assets	$	14,640		$	4,794		$	423	$	(3,538	)	$	16,319		$	871		$	17,190


⁽¹⁾	For Servicing segment results purposes, all revenue is attributable to servicing portfolio. Therefore, $53 and $22 of net gain on mortgage loans is moved to service related, net during the six months ended June 30, 2019 and 2018, respectively. For consolidated results purposes, these amounts were reclassed back to net gain on mortgage loans held for sale.

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Guarantor Financial Statement Information (Tables)

6 Months Ended

Jun. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Consolidating Balance Sheet

MR. COOPER GROUP INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2018

	Successor
	Mr. Cooper		Issuer⁽¹⁾		Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—	$	193	$	1	$	48		$	—		$	242
Restricted cash	—		186		—		133			—			319
Mortgage servicing rights	—		3,644		—		32			—			3,676
Advances and other receivables, net	—		1,194		—		—			—			1,194
Reverse mortgage interests, net	—		6,770		—		1,164			—			7,934
Mortgage loans held for sale at fair value	—		1,631		—		—			—			1,631
Mortgage loans held for investment at fair value	—		1		—		118			—			119
Property and equipment, net	—		84		—		12			—			96
Deferred tax asset, net	973		—		—		(6		)	—			967
Other assets	—		660		202		621			(688		)	795
Investment in subsidiaries	2,820		601		—		—			(3,421		)	—
Total assets	$	3,793	$	14,964	$	203	$	2,122		$	(4,109	)	$	16,973

Liabilities and Stockholders’ Equity
Unsecured senior notes, net	$	1,660	$	799	$	—	$	—		$	—		$	2,459
Advance facilities, net	—		90		—		505			—			595
Warehouse facilities, net	—		2,349		—		—			—			2,349
Payables and other liabilities	49		1,413		1		80			—			1,543
MSR related liabilities - nonrecourse at fair value	—		1,197		—		19			—			1,216
Mortgage servicing liabilities	—		71		—		—			—			71
Other nonrecourse debt, net	—		5,676		—		1,119			—			6,795
Payables to affiliates	139		549		—		—			(688		)	—
Total liabilities	1,848		12,144		1		1,723			(688		)	15,028
Total stockholders’ equity	1,945		2,820		202		399			(3,421		)	1,945
Total liabilities and stockholders’ equity	$	3,793	$	14,964	$	203	$	2,122		$	(4,109	)	$	16,973


⁽¹⁾	Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING BALANCE SHEET JUNE 30, 2019

	Successor
	Mr. Cooper		Issuer⁽¹⁾		Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—	$	215	$	1	$	29	$	—		$	245
Restricted cash	—		204		—		100		—			304
Mortgage servicing rights	—		3,484		—		27		—			3,511
Advances and other receivables, net	—		1,000		—		—		—			1,000
Reverse mortgage interests, net	—		6,003		—		1,107		—			7,110
Mortgage loans held for sale at fair value	—		3,422		—		—		—			3,422
Mortgage loans held for investment at fair value	—		2		—		112		—			114
Property and equipment, net	—		99		—		16		—			115
Deferred tax asset, net	984		69		—		2		—			1,055
Other assets	—		1,399		208		661		(739		)	1,529
Investment in subsidiaries	2,557		612		—		—		(3,169		)	—
Total assets	$	3,541	$	16,509	$	209	$	2,054	$	(3,908	)	$	18,405

Liabilities and Stockholders’ Equity
Unsecured senior notes, net	$	1,663	$	799	$	—	$	—	$	—		$	2,462
Advance facilities, net	—		89		—		478		—			567
Warehouse facilities, net	—		4,045		—		—		—			4,045
Payables and other liabilities	59		1,999		2		56		—			2,116
MSR related liabilities - nonrecourse at fair value	—		1,456		—		16		—			1,472
Mortgage servicing liabilities	—		80		—		—		—			80
Other nonrecourse debt, net	—		4,890		—		1,095		—			5,985
Payables to affiliates	141		594		—		4		(739		)	—
Total liabilities	1,863		13,952		2		1,649		(739		)	16,727
Total stockholders’ equity	1,678		2,557		207		405		(3,169		)	1,678
Total liabilities and stockholders’ equity	$	3,541	$	16,509	$	209	$	2,054	$	(3,908	)	$	18,405


⁽¹⁾	Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.

Consolidating Statement of Operations

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2018

	Predecessor
	Nationstar		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—	$	247		$	7	$	63		$	—		$	317
Net gain on mortgage loans held for sale	—		127			—		—			—			127
Total Revenues	—		374			7		63			—			444
Expenses:
Salaries, wages and benefits	—		149			1		27			—			177
General and administrative	—		134			—		28			—			162
Total expenses	—		283			1		55			—			339
Other income (expenses):
Interest income	—		127			—		13			—			140
Interest expense	—		(153		)	—		(11		)	—			(164		)
Other expense	—		(3		)	—		1			—			(2		)
Gain (loss) from subsidiaries	58		18			—		—			(76		)	—
Total other income (expenses), net	58		(11		)	—		3			(76		)	(26		)
Income (loss) before income tax expense (benefit)	58		80			6		11			(76		)	79
Less: Income tax expense (benefit)	—		22			—		(1		)	—			21
Net income (loss)	58		58			6		12			(76		)	58
Less: Net income (loss) attributable to non-controlling interests	—		—			—		—			—			—
Net income (loss) attributable to Nationstar	$	58	$	58		$	6	$	12		$	(76	)	$	58


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2018

	Predecessor
	Nationstar		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—	$	637		$	13	$	131		$	—		$	781
Net gain on mortgage loans held for sale	—		251			—		—			—			251
Total Revenues	—		888			13		131			—			1,032
Expenses:
Salaries, wages and benefits	—		301			2		54			—			357
General and administrative	—		290			1		55			—			346
Total expenses	—		591			3		109			—			703
Other income (expenses):
Interest income	—		258			—		27			—			285
Interest expense	—		(315		)	—		(20		)	—			(335		)
Other expense	—		(4		)	—		10			—			6
Gain (loss) from subsidiaries	218		50			—		—			(268		)	—
Total other income (expenses), net	218		(11		)	—		17			(268		)	(44		)
Income (loss) before income tax expense (benefit)	218		286			10		39			(268		)	285
Less: Income tax expense (benefit)	—		68			—		(1		)	—			67
Net income (loss)	218		218			10		40			(268		)	218
Less: Net income (loss) attributable to non-controlling interests	—		—			—		—			—			—
Net income (loss) attributable to Nationstar	$	218	$	218		$	10	$	40		$	(268	)	$	218


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED JUNE 30, 2019

	Successor
	Mr. Cooper			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Revenues:
Service related, net	$	—		$	21		$	5	$	111		$	—	$	137
Net gain on mortgage loans held for sale	—			262			—		—			—		262
Total revenues	—			283			5		111			—		399
Expenses:
Salaries, wages benefits	—			198			1		39			—		238
General and administrative	—			179			1		74			—		254
Total expenses	—			377			2		113			—		492
Other income (expenses):
Interest income	—			147			—		15			—		162
Interest expense	(39		)	(134		)	—		(14		)	—		(187		)
Other income (expenses)	—			1			—		—			—		1
(Loss) gain from subsidiaries	(48		)	2			—		—			46		—
Total other income (expenses), net	(87		)	16			—		1			46		(24		)
(Loss) income before income tax benefit	(87		)	(78		)	3		(1		)	46		(117		)
Less: Income tax benefit	—			(29		)	—		—			—		(29		)
Net (loss) income	(87		)	(49		)	3		(1		)	46		(88		)
Less: Net loss attributable to non-controlling interests	—			(1		)	—		—			—		(1		)
Net (loss) income attributable to Mr. Cooper	$	(87	)	$	(48	)	$	3	$	(1	)	$	46	$	(87	)


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS SIX MONTHS ENDED JUNE 30, 2019

	Successor
	Mr. Cooper			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Revenues:
Service related, net	$	—		$	2		$	11	$	208		$	—	$	221
Net gain on mortgage loans held for sale	—			428			—		—			—		428
Total revenues	—			430			11		208			—		649
Expenses:
Salaries, wages benefits	—			372			2		79			—		453
General and administrative	—			344			2		136			—		482
Total expenses	—			716			4		215			—		935
Other income (expenses):
Interest income	—			265			—		31			—		296
Interest expense	(77		)	(268		)	—		(31		)	—		(376		)
Other income (expenses)	—			5			—		11			—		16
(Loss) gain from subsidiaries	(196		)	11			—		—			185		—
Total other income (expenses), net	(273		)	13			—		11			185		(64		)
(Loss) income before income tax benefit	(273		)	(273		)	7		4			185		(350		)
Less: Income tax benefit	—			(76		)	—		—			—		(76		)
Net (loss) income	(273		)	(197		)	7		4			185		(274		)
Less: Net loss attributable to non-controlling interests	—			(1		)	—		—			—		(1		)
Net (loss) income attributable to Mr. Cooper	$	(273	)	$	(196	)	$	7	$	4		$	185	$	(273	)


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

Consolidating Statement of Cash Flows

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2018

	Predecessor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net income (loss) attributable to Nationstar	$	218		$	218		$	10		$	40		$	(268	)	$	218
Adjustments to reconcile net income (loss) to net cash attributable to operating activities:
Deferred income tax expense (benefit)	—			41			—			(1		)	—			40
(Gain) loss from subsidiaries	(218		)	(50		)	—			—			268			—
Net gain on mortgage loans held for sale	—			(251		)	—			—			—			(251		)
Interest income on reverse mortgage loan	—			(237		)	—			—			—			(237		)
Gain on sale of assets	—			—			—			(9		)	—			(9		)
Provision for servicing reserves	—			54			—			—			—			54
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities	—			(155		)	—			—			—			(155		)
Fair value changes in excess spread financing	—			73			—			1			—			74
Fair value changes in mortgage servicing rights financing liability	—			6			—			—			—			6
Amortization of premiums, net of discount accretion	—			9			—			(3		)	—			6
Depreciation and amortization for property and equipment and intangible assets	—			23			—			6			—			29
Share-based compensation	—			7			—			1			—			8
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(475		)	—			—			—			(475		)
Mortgage loans originated and purchased for sale, net of fees	—			(10,639		)	—			—			—			(10,639		)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			11,490			—			10			—			11,500
Changes in assets and liabilities:
Advances and other receivables	—			355			—			—			—			355
Reverse mortgage interests	—			1,314			—			12			—			1,326
Other assets	6			(188		)	(10		)	202			—			10
Payables and other liabilities	—			13			—			(4		)	—			9
Net cash attributable to operating activities	6			1,608			—			255			—			1,869


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2018 (Continued)

	Predecessor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing Activities
Property and equipment additions, net of disposals	—			(27		)	—		(4		)	—		(31		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—			(117		)	—		(6		)	—		(123		)
Net payment related to acquisition of HECM related receivables	—			(1		)	—		—			—		(1		)
Proceeds on sale of assets	—			—			—		13			—		13
Net cash attributable to investing activities	—			(145		)	—		3			—		(142		)
Financing Activities
Increase in warehouse facilities	—			(199		)	—		—			—		(199		)
Decrease in advance facilities	—			(57		)	—		(282		)	—		(339		)
Proceeds from issuance of HECM securitizations	—			—			—		443			—		443
Repayment of HECM securitizations	—			—			—		(423		)	—		(423		)
Proceeds from issuance of participating interest financing in reverse mortgage interests	—			184			—		—			—		184
Repayment of participating interest financing in reverse mortgage interests	—			(1,368		)	—		—			—		(1,368		)
Repayment of excess spread financing	—			(2		)	—		—			—		(2		)
Settlement of excess spread financing	—			(91		)	—		—			—		(91		)
Proceeds from issuance of excess spread financing	—			70			—		—			—		70
Repayment of nonrecourse debt - legacy assets	—			—			—		(6		)	—		(6		)
Repurchase of unsecured senior notes	—			(62		)	—		—			—		(62		)
Surrender of shares relating to stock vesting	(6		)	—			—		—			—		(6		)
Debt financing costs	—			(7		)	—		—			—		(7		)
Dividends to non-controlling interests	—			(1		)	—		—			—		(1		)
Net cash attributable to financing activities	(6		)	(1,533		)	—		(268		)	—		(1,807		)
Net decrease in cash, cash equivalents, and restricted cash	—			(70		)	—		(10		)	—		(80		)
Cash, cash equivalents, and restricted cash - beginning of period	—			423			1		151			—		575
Cash, cash equivalents, and restricted cash - end of period	$	—		$	353		$	1	$	141		$	—	$	495


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2019

	Successor
	Mr. Cooper			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net (loss) income attributable to Mr. Cooper	$	(273	)	$	(196	)	$	7		$	4		$	185		$	(273	)
Adjustments to reconcile net (loss) income to net cash attributable to operating activities:
Deferred tax benefit	—			(76		)	—			—			—			(76		)
Net income attributable to non-controlling interests	—			(1		)	—			—			—			(1		)
Loss (gain) from subsidiaries	196			(11		)	—			—			(185		)	—
Net gain on mortgage loans held for sale	—			(428		)	—			—			—			(428		)
Interest income on reverse mortgage loan	—			(167		)	—			—			—			(167		)
Provision for servicing reserves	—			30			—			—			—			30
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities	—			690			—			5			—			695
Fair value changes in excess spread financing	—			(71		)	—			(3		)	—			(74		)
Fair value changes in mortgage servicing rights financing liability	—			11			—			—			—			11
Fair value changes in mortgage loans held for investment	—			—			—			(3		)	—			(3		)
Amortization of premiums, net of discount accretion	3			(28		)	—			—			—			(25		)
Depreciation and amortization for property and equipment and intangible assets	—			37			—			8			—			45
Share-based compensation	—			7			—			2			—			9
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(715		)	—			—			—			(715		)
Mortgage loans originated and purchased for sale, net of fees	—			(15,727		)	—			—			—			(15,727		)
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			15,420			—			9			—			15,429
Changes in assets and liabilities:
Advances and other receivables	—			249			—			—			—			249
Reverse mortgage interests	—			1,001			—			55			—			1,056
Other assets	—			(65		)	(8		)	(45		)	—			(118		)
Payables and other liabilities	74			(16		)	1			(28		)	—			31
Net cash attributable to operating activities	—			(56		)	—			4			—			(52		)


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SIX MONTHS ENDED JUNE 30, 2019 (Continued)

	Successor
	Mr. Cooper		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing Activities
Acquisition, net of cash acquired	—		(85		)	—		—			—		(85		)
Property and equipment additions, net of disposals	—		(20		)	—		(7		)	—		(27		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—		(409		)	—		—			—		(409		)
Proceeds on sale of forward and reverse mortgage servicing rights	—		279			—		—			—		279
Net cash attributable to investing activities	—		(235		)	—		(7		)	—		(242		)
Financing Activities
Increase in warehouse facilities	—		1,173			—		—			—		1,173
Decrease in advance facilities	—		(13		)	—		(27		)	—		(40		)
Repayment of notes payable	—		(294		)	—		—			—		(294		)
Proceeds from issuance of HECM securitizations	—		—			—		398			—		398
Proceeds from sale of HECM securitizations	—		—			—		20			—		20
Repayment of HECM securitizations	—		—			—		(434		)	—		(434		)
Proceeds from issuance of participating interest financing in reverse mortgage interests	—		156			—		—			—		156
Repayment of participating interest financing in reverse mortgage interests	—		(1,004		)	—		—			—		(1,004		)
Proceeds from issuance of excess spread financing	—		437			—		—			—		437
Repayment of excess spread financing	—		(12		)	—		—			—		(12		)
Settlement of excess spread financing	—		(107		)	—		—			—		(107		)
Repayment of nonrecourse debt - legacy assets	—		—			—		(6		)	—		(6		)
Repayment of finance lease liability	—		(2		)	—		—			—		(2		)
Surrender of shares relating to stock vesting	—		(2		)	—		—			—		(2		)
Debt financing costs	—		(1		)	—		—			—		(1		)
Net cash attributable to financing activities	—		331			—		(49		)	—		282
Net increase (decrease) in cash, cash equivalents, and restricted cash	—		40			—		(52		)	—		(12		)
Cash, cash equivalents, and restricted cash - beginning of period	—		379			1		181			—		561
Cash, cash equivalents, and restricted cash - end of period	$	—	$	419		$	1	$	129		$	—	$	549


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

XML 63 R46.htm IDEA: XBRL DOCUMENT

Nature of Business and Basis of Presentation - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ROU asset	$ 139		$ 0
Operating lease liabilities	$ 148		$ 0
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ROU asset		$ 114
Operating lease liabilities		$ 124

XML 64 R47.htm IDEA: XBRL DOCUMENT

Acquisitions - Narrative (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Millions	Feb. 01, 2019	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill		$ 120	$ 120	$ 23
Goodwill adjustment			55
Pacific Union
Business Acquisition [Line Items]
Cash consideration	$ 116
Goodwill	40	40	40
Increase to payables and other liabilities		11
Increase to fair value of intangible assets		(2)
Property and equipment wrote off		2
Goodwill adjustment		11
Acquisition costs		2	4
Revenue since acquisition		79	118
Income from acquisition		36	50
Salaries, Wages and Benefits \| Pacific Union
Business Acquisition [Line Items]
Acquisition costs		1	2
General and Administrative Expense \| Pacific Union
Business Acquisition [Line Items]
Acquisition costs		1	2
Originations Segment \| Pacific Union
Business Acquisition [Line Items]
Goodwill		28	28
Servicing Segment \| Pacific Union
Business Acquisition [Line Items]
Goodwill		$ 12	$ 12
Minimum \| Pacific Union
Business Acquisition [Line Items]
Change in contingent consideration	0
Maximum \| Pacific Union
Business Acquisition [Line Items]
Change in contingent consideration	$ 16

XML 65 R48.htm IDEA: XBRL DOCUMENT

Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Feb. 01, 2019	Aug. 01, 2018	Jun. 30, 2019	Dec. 31, 2018
Liabilities:
Goodwill			$ 120	$ 23
Pacific Union
Assets:
Cash and cash equivalents	$ 37
Restricted cash	2
Mortgage servicing rights	271
Advances and other receivables	84
Mortgage loans held for sale	536		536
Mortgage loans held for investment	1
Property and equipment	8
Other assets	483
Fair value of assets acquired	1,422
Liabilities:
Notes payable	294
Advance facilities	13
Warehouse facilities	393
Payables and other liabilities	530
Other nonrecourse debt	129
Fair value of liabilities assumed	1,359
Total fair value of net tangible assets acquired	63
Goodwill	40		40
Total	116
Nationstar Mortgage Holdings Inc.
Assets:
Cash and cash equivalents		$ 166
Restricted cash		430
Mortgage servicing rights		3,422
Advances and other receivables		1,262
Reverse mortgage interests		9,189
Mortgage loans held for sale		1,514
Mortgage loans held for investment		125
Property and equipment		96
Other assets		610
Fair value of assets acquired		16,814
Liabilities:
Unsecured senior notes		1,830
Advance facilities		551
Warehouse facilities		2,701
Payables and other liabilities		1,352
MSR related liabilities—nonrecourse		1,065
Mortgage servicing liabilities		123
Other nonrecourse debt		7,583
Fair value of liabilities assumed		15,205
Total fair value of net tangible assets acquired		1,609
Intangible assets		103
Goodwill		65	$ 65	$ 10
Total		1,777
Customer relationships \| Pacific Union
Liabilities:
Intangible assets	$ 13
Useful Life, Assets acquired	10 years
Customer relationships \| Nationstar Mortgage Holdings Inc.
Liabilities:
Intangible assets		$ 61
Useful Life, Assets acquired		6 years
Tradename \| Nationstar Mortgage Holdings Inc.
Liabilities:
Intangible assets		$ 8
Useful Life, Assets acquired		5 years
Technology \| Nationstar Mortgage Holdings Inc.
Liabilities:
Intangible assets		$ 11
Internally developed software \| Nationstar Mortgage Holdings Inc.
Liabilities:
Intangible assets		$ 23
Useful Life, Assets acquired		2 years
Minimum \| Technology \| Nationstar Mortgage Holdings Inc.
Liabilities:
Useful Life, Assets acquired		3 years
Maximum \| Technology \| Nationstar Mortgage Holdings Inc.
Liabilities:
Useful Life, Assets acquired		5 years

XML 66 R49.htm IDEA: XBRL DOCUMENT

Acquisitions - Pro Forma Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Business Combinations [Abstract]
Pro forma total revenues	$ 399	$ 668
Pro forma net loss	$ (87)	$ (271)

XML 67 R50.htm IDEA: XBRL DOCUMENT

Acquisitions - Acquisition of Nationstar Mortgage Holdings Inc (Details)				3 Months Ended			6 Months Ended
	Aug. 01, 2018 USD ($)	Jul. 31, 2018 USD ($) $ / shares shares	Jul. 13, 2018 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)	Jul. 12, 2018 USD ($)
Business Acquisition [Line Items]
Goodwill				$ 120,000,000			$ 120,000,000		$ 23,000,000
Reduction in payables and accrued liabilities							(31,000,000)	$ (9,000,000)
Goodwill adjustment							55,000,000
Nationstar Mortgage Holdings Inc.
Business Acquisition [Line Items]
Cash consideration	$ 1,226,000,000
Estimated consideration	1,777,000,000
Stock consideration	551,000,000
Goodwill	$ 65,000,000			65,000,000			65,000,000		$ 10,000,000
Reduction in reverse mortgage interests					$ 24,000,000
Reduction in reverse mortgage servicing rights					6,000,000
Increase in mortgage servicing liabilities					37,000,000
Reduction in payables and accrued liabilities					12,000,000
Goodwill adjustment					55,000,000		55,000,000
Accounting adjustments					8,000,000
WMIH Corp And Wand Merger Corporation
Business Acquisition [Line Items]
Right to receive in shares (in dollars per share) \| $ / shares		$ 18
Right to receive in shares (shares) \| shares		12.7793
Stock split conversion		0.0833
Acquisition costs		$ 27,000,000
Acquisition costs, incurred				$ 0		$ 1,000,000	$ 1,000,000	4,000,000
8.125% Due July 2023
Business Acquisition [Line Items]
Debt issued			$ 950,000,000
Interest rate			8.125%
9.125% Due July 2026
Business Acquisition [Line Items]
Debt issued			$ 750,000,000
Interest rate			9.125%
Service related, net revenue \| Nationstar Mortgage Holdings Inc.
Business Acquisition [Line Items]
Accounting adjustments					7,000,000
Interest income \| Nationstar Mortgage Holdings Inc.
Business Acquisition [Line Items]
Accounting adjustments					$ 1,000,000
WMIH Corp \| WMIH Corp And Wand Merger Corporation
Business Acquisition [Line Items]
Acquisition costs										$ 92,000,000
Acquisition costs, incurred						$ 3,000,000		$ 7,000,000
Debt issuance costs										38,000,000
WMIH Corp \| KCM \| WMIH Corp And Wand Merger Corporation
Business Acquisition [Line Items]
Acquisition costs										7,000,000
Payment for conversion fee			$ 8,000,000
WMIH Corp \| KKR Capital Markets LLC \| WMIH Corp And Wand Merger Corporation
Business Acquisition [Line Items]
Acquisition costs										$ 25,000,000

XML 68 R51.htm IDEA: XBRL DOCUMENT

Acquisitions - Aggregate Purchase Price (Details) - Nationstar Mortgage Holdings Inc. $ / shares in Units, shares in Millions, $ in Millions	Aug. 01, 2018 USD ($) $ / shares shares
Business Acquisition [Line Items]
Converted WMIH common shares (in shares) \| shares	394
Price per share (in dollars per share) \| $ / shares	$ 1.398
Purchase price from common stock issued	$ 551
Purchase price from cash payment	1,226
Total purchase price	$ 1,777

XML 69 R52.htm IDEA: XBRL DOCUMENT

Acquisitions - Acquisition of AMS Group (Details) - USD ($) $ in Millions		6 Months Ended	12 Months Ended
	Aug. 01, 2018	Jun. 30, 2019	Dec. 31, 2018	Mar. 31, 2019
Business Acquisition [Line Items]
Goodwill acquired		$ 42
Assurant Mortgage Solutions Group
Business Acquisition [Line Items]
Intangible assets acquired			$ 24
Goodwill acquired			13
Xome Holdings LLC \| Assurant Mortgage Solutions Group
Business Acquisition [Line Items]
Cash consideration	$ 38
Contingent consideration			$ 15	$ 4
Estimated consideration	53
Intangible assets acquired	24
Goodwill acquired	$ 13
Change in contingent consideration		$ 11

XML 70 R53.htm IDEA: XBRL DOCUMENT

Mortgage Servicing Rights ("MSRs") and Related Liabilities - MSRs and Related Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Mortgage Servicing Rights [Line Items]
Mortgage servicing rights at fair value	$ 3,505	$ 3,665
Mortgage servicing rights - fair value and amortized cost	3,511	3,676
Mortgage servicing liabilities - amortized cost	80	71
Excess spread financing - fair value	1,429	1,184
Mortgage servicing rights financing - fair value	43	32
MSR related liabilities - nonrecourse at fair value	1,472	1,216
Mortgage servicing rights
Mortgage Servicing Rights [Line Items]
Mortgage servicing rights at fair value	3,505	3,665
Mortgage servicing right at amortized cost	6	11
Mortgage servicing rights - fair value and amortized cost	3,511	3,676
Mortgage servicing liabilities - amortized cost	$ 80	$ 71

XML 71 R54.htm IDEA: XBRL DOCUMENT

Mortgage Servicing Rights ("MSRs") and Related Liabilities - MSR's at Fair Value (Details) - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	May 01, 2019	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Feb. 01, 2019
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value - beginning of period			$ 3,665
Fair value - end of period		$ 3,505	3,505
Mortgage servicing rights
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value - beginning of period			3,665	$ 2,937
Servicing retained from mortgage loans sold			169	139
Purchases of servicing rights		253	689	132
Sales of servicing assets			(294)	4
Changes in valuation inputs or assumptions used in the valuation model			(542)	283
Other changes in fair value			(182)	(139)
Fair value - end of period		3,505	3,505	$ 3,356
Mortgage purchased under subservicing contract	$ 24,000
Pacific Union
Servicing Asset at Fair Value, Amount [Roll Forward]
Mortgage servicing rights					$ 271
Pacific Union \| Mortgage servicing rights
Servicing Asset at Fair Value, Amount [Roll Forward]
Mortgage servicing rights		$ 271	$ 271

XML 72 R55.htm IDEA: XBRL DOCUMENT

Mortgage Servicing Rights ("MSRs") and Related Liabilities - UPB related to owned MSRs (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Owned Service Loans [Line Items]
Fair Value	$ 3,505	$ 3,665
Mortgage servicing rights
Owned Service Loans [Line Items]
UPB	316,012	295,481
Fair Value	3,505	3,665
Credit sensitive \| Mortgage servicing rights
Owned Service Loans [Line Items]
UPB	167,381	135,752
Fair Value	1,797	1,495
Interest sensitive \| Mortgage servicing rights
Owned Service Loans [Line Items]
UPB	148,631	159,729
Fair Value	$ 1,708	$ 2,170

XML 73 R56.htm IDEA: XBRL DOCUMENT

Mortgage Servicing Rights ("MSRs") and Related Liabilities - Fair Value Assumptions (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Mortgage servicing rights
Assumption for Fair Value of Mortgage Servicing Rights
Discount rate	9.70%	10.20%
Prepayment speeds	13.70%	10.80%
Average life	5 years 10 months	6 years 8 months
Mortgage servicing rights \| Credit sensitive
Assumption for Fair Value of Mortgage Servicing Rights
Discount rate	10.60%	11.30%
Prepayment speeds	13.50%	11.80%
Average life	5 years 10 months 8 days	6 years 5 months
Mortgage servicing rights \| Interest sensitive
Assumption for Fair Value of Mortgage Servicing Rights
Discount rate	8.90%	9.30%
Prepayment speeds	13.90%	10.00%
Average life	5 years 7 months	7 years
Excess spread financing \| Weighted-average
Assumption for Fair Value of Mortgage Servicing Rights
Discount rate	9.60%	10.40%
Prepayment speeds	13.10%	11.00%
Recapture rate	20.20%	18.60%
Average life	5 years 8 months	6 years 6 months
MSR Financing Liability \| Financing rates
Assumption for Fair Value of Mortgage Servicing Rights
Advance financing rates	3.70%	4.20%
MSR Financing Liability \| Recovery rates
Assumption for Fair Value of Mortgage Servicing Rights
Annual advance recovery rates	19.30%	19.00%

XML 74 R57.htm IDEA: XBRL DOCUMENT

Mortgage Servicing Rights ("MSRs") and Related Liabilities - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Servicing Asset at Amortized Cost [Line Items]
Mortgage servicing liabilities - amortized cost	$ 80,000,000		$ 80,000,000		$ 71,000,000
Accretion of MSL	11,000,000		29,000,000
Mortgage servicing rights at fair value	3,505,000,000		3,505,000,000		3,665,000,000
Clean up call option			21,000,000
Cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans	17,000,000	$ 22,000,000	28,000,000	$ 34,000,000
Servicing fee income accretion expense	59,000,000	37,000,000	95,000,000	67,000,000
Forward MSRs Sold
Servicing Asset at Amortized Cost [Line Items]
UPB	22,932,000,000	1,203,000,000	22,932,000,000	1,203,000,000
Forward MSRs Sold, Subservicing Retained
Servicing Asset at Amortized Cost [Line Items]
UPB	20,560,000,000	$ 1,000,000	20,560,000,000	1,000,000
Reverse Mortgage Servicing Rights
Servicing Asset at Amortized Cost [Line Items]
UPB	25,569,000,000		25,569,000,000		28,415,000,000
Amortization of mortgage servicing rights			1,000,000
Other MSR adjustments			6,000,000	4,000,000
Mortgage servicing rights at fair value	7,000,000		7,000,000		11,000,000
Mortgage servicing rights
Servicing Asset at Amortized Cost [Line Items]
UPB	316,012,000,000		316,012,000,000		295,481,000,000
Mortgage servicing liabilities - amortized cost	80,000,000		80,000,000		71,000,000
Accretion of MSL			28,000,000	11,000,000
Other adjustments of MSL			37,000,000	$ 3,000,000
Mortgage servicing right at amortized cost	6,000,000		6,000,000		11,000,000
Mortgage servicing rights at fair value	3,505,000,000		3,505,000,000		3,665,000,000
Fair value of MSL	44,000,000		44,000,000		$ 53,000,000
Impairment			$ 0
Cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans	$ 17,000,000

XML 75 R58.htm IDEA: XBRL DOCUMENT

Mortgage Servicing Rights ("MSRs") and Related Liabilities - Fair Value Sensitivity Analysis (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Mortgage servicing rights
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Total Prepayment Speeds, 10% Adverse Change	$ (169)	$ (129)
Total Prepayment Speeds, 20% Adverse Change	(325)	(250)
Excess spread financing
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Total Prepayment Speeds, 10% Adverse Change	58	38
Total Prepayment Speeds, 20% Adverse Change	121	81
100 Basis Points \| Mortgage servicing rights
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Discount Rate, Adverse Change	(127)	(137)
100 Basis Points \| Excess spread financing
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Discount Rate, Adverse Change	53	47
200 Basis Points \| Mortgage servicing rights
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Discount Rate, Adverse Change	(245)	(265)
200 Basis Points \| Excess spread financing
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Discount Rate, Adverse Change	$ 111	$ 99

XML 76 R59.htm IDEA: XBRL DOCUMENT

Mortgage Servicing Rights ("MSRs") and Related Liabilities - Servicing Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Transfers and Servicing [Abstract]
Contractually specified servicing fees	$ 307	$ 245	$ 588	$ 495
Other service-related income	32	28	82	56
Incentive and modification income	10	18	17	33
Late fees	27	22	52	46
Reverse servicing fees	8	14	17	33
Mark-to-market adjustments	(231)	19	(524)	171
Counterparty revenue share	(70)	(50)	(118)	(95)
Amortization, net of accretion	(56)	(48)	(79)	(96)
Total servicing revenue	$ 27	$ 248	$ 35	$ 643

XML 77 R60.htm IDEA: XBRL DOCUMENT

Advances and Other Receivables, Net - Schedule of Accounts Receivable (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Servicing advances, net of $156 and $205 discount, respectively	$ 878		$ 1,000
Receivables from agencies, investors and prior servicers, net of $48 and $48 discount, respectively	220		241
Reserves	(98)		(47)
Total advances and other receivables, net	1,000		1,194
Servicing advances discount	156	$ 169	205
Receivables discount	$ 48	$ 48	$ 48

XML 78 R61.htm IDEA: XBRL DOCUMENT

Reverse Mortgage Interests, Net - Schedule of Reverse Mortgage Interest (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Mortgage Servicing Rights [Line Items]
Participating interests in HECM mortgage-backed securities (“HMBS”), net of $18 and $58 premium, respectively	$ 4,952		$ 5,664
Other interests securitized, net of $84 and $100 discount, respectively	1,023		1,064
Unsecuritized interests, net of $97 and $122 discount, respectively	1,143		1,219
Reserves	(8)	$ (8)	(13)	$ (117)	$ (134)	$ (115)
Total reverse mortgage interests, net	7,110		7,934
Other interests securitized, discount	84	112	100
Unsecuritized interests, discount	97	$ 95	122
Mortgage-backed debt
Mortgage Servicing Rights [Line Items]
Debt premium	$ 18		$ 58

XML 79 R62.htm IDEA: XBRL DOCUMENT

Advances and Other Receivables, Net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019	Feb. 28, 2019	Dec. 31, 2018	Aug. 01, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans	$ 17,000	$ 22,000	$ 28,000	$ 34,000
Receivables discount	48,000		48,000		$ 48,000		$ 48,000
Utilization of purchase discounts	0		0
Receivables From Prior Servicers, Forward Loan Portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivables	96,000		96,000				$ 94,000
Pacific Union
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables discount						$ 19,000
WMIH Corp And Wand Merger Corporation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables discount	$ 204,000		204,000					$ 302,000
Utilization of purchase discounts			$ 117,000

XML 80 R63.htm IDEA: XBRL DOCUMENT

Reverse Mortgage Interests, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019	Dec. 31, 2018	Aug. 01, 2018	Mar. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchase discount		$ 84		$ 84				$ 90	$ 89
Unsecuritized HECM
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest earned on HECM loans	$ 85	118	$ 167	237
Participating Interests in HMBS
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized	149	174	149	174
GNMA
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized	61		61
Trust 2019-1
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized	398		398
Trust 2017-2
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized	249		249
Trust 2018-3
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB sold			20
Trust 2018-1 and Trust 2018-2
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized		443		443
Trust 2016-2 and Trust 2016-3
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized		$ 284		284
Reverse Mortgage Interests, Unsecuritized \| HECM
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase of HECM loans			1,457	2,109
Repurchase of HECM loans funded by prior servicer			371	$ 444
Other Interest Securitized and Unsecuritized Interests
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchase discount							$ 298
Receivables From Prior Servicers, Reverse Mortgage Interests
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivables	13		13			$ 18
Mortgage-backed debt
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt premium	18		18			58
Mortgage-backed debt \| Participating Interests in HMBS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt premium	$ 18		$ 18		$ 36	$ 58	$ 42

XML 81 R64.htm IDEA: XBRL DOCUMENT

Advances and Other Receivables, Net - Advances and Other Receivables Roll Forward (Details) - Reserves for Advances and Other Receivables - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance - beginning of period	$ 71	$ 277	$ 47	$ 284
Provision and other additions	37	38	67	60
Write-offs	(10)	(21)	(16)	(50)
Balance - end of period	$ 98	$ 294	$ 98	$ 294

XML 82 R65.htm IDEA: XBRL DOCUMENT

Reverse Mortgage Interests, Net - Unsecuritized Interest (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Reverse Mortgage Interest [Abstract]
Repurchased HECM loans (exceeds 98% MCA)	$ 896		$ 949
HECM related receivables	281		300
Funded borrower draws not yet securitized	48		76
REO-related receivables	15		16
Purchase discount	(97)	$ (95)	(122)
Total unsecuritized interests	$ 1,143		$ 1,219

XML 83 R66.htm IDEA: XBRL DOCUMENT

Advances and Other Receivables, Net - Purchase Discount (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Servicing Advances
Balance - beginning of period	$ 169,000	$ 205,000
Addition from acquisition	0	19,000
Utilization of purchase discounts	(13,000)	68,000
Balance - end of period	156,000	156,000
Receivables from Agencies, Investors and Prior Servicers
Balance - beginning of period	48,000	48,000
Addition from acquisition	0	0
Utilization of purchase discounts	0	0
Balance - end of period	$ 48,000	$ 48,000

XML 84 R67.htm IDEA: XBRL DOCUMENT

Reverse Mortgage Interests, Net - Reserves Roll Forward (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Reverse Mortgage Interests Reserves [Roll Forward]
Balance - beginning of period	$ 8	$ 134	$ 13	$ 115
Provision (release), net	2	(6)	2	20
Write-offs	(2)	(11)	(7)	(18)
Balance - end of period	$ 8	$ 117	$ 8	$ 117

XML 85 R68.htm IDEA: XBRL DOCUMENT

Reverse Mortgage Interests, Net - Purchase Discount Rollforward (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net Discount for Other Interest Securitized
Balance - beginning of period	$ (112)		$ (100)
Adjustments			(2)
Utilization of purchase discounts	7		13
Accretion	28		13
Transfers	(7)		(8)
Balance - end of period	(84)		(84)
Net Discount for Unsecuritized Interests
Balance - beginning of period	(95)		(122)
Additions			(6)
Utilization of purchase discounts	5		27
Accretion	(9)		9
Transfers	2		(5)
Balance - end of period	(97)		(97)
Purchase discounts for reverse mortgage interests
Balance - beginning of period		$ (90)		$ (89)
Additions		0		(7)
Accretion		6		12
Balance - end of period		$ (84)		$ (84)
Mortgage-backed debt
Net Premium for Participating Interests in HMBS
Balance - beginning of period			58
Balance - end of period	18		18
Participating Interests in HMBS \| Mortgage-backed debt
Net Premium for Participating Interests in HMBS
Balance - beginning of period	36		58
Adjustments			(16)
Utilization of purchase discounts	0		0
Amortization	(23)		(37)
Transfers	5		13
Balance - end of period	$ 18		$ 18

XML 86 R69.htm IDEA: XBRL DOCUMENT

Mortgage Loans Held for Sale and Investment - Mortgage Loans Held for Sale (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB	$ 26	$ 45
Fair Value	24	42
Ginnie Mae Repurchased Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB	21	40
Mortgages loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans held for sale – UPB	3,268	1,568
Mark-to-market adjustment	154	63
Total mortgage loans held for sale	$ 3,422	$ 1,631

XML 87 R70.htm IDEA: XBRL DOCUMENT

Mortgage Loans Held for Sale and Investment - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Feb. 01, 2019	Dec. 31, 2018
Servicing Assets at Fair Value [Line Items]
Mortgage loans held for sale in foreclosure	$ 16			$ 33
Sale of mortgage loans held for sale	15,422	$ 11,491
Gain on sale of mortgage loans held for sale	219	114
Mortgage loans held for investment in foreclosure	11			$ 15
Ginnie Mae Loans
Servicing Assets at Fair Value [Line Items]
Delinquent loans acquired	72	109
Delinquent loans securitized or sold	117	135
Purchased loans that have re-performed	19	$ 92
Pacific Union
Servicing Assets at Fair Value [Line Items]
Mortgage loans held for sale	$ 536		$ 536

XML 88 R71.htm IDEA: XBRL DOCUMENT

Mortgage Loans Held for Sale and Investment - Reconciliation to Cash Flow (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Loans Receivable Held-for-sale, Net, Reconciliation to Cash Flow [Roll Forward]
Balance - beginning of period	$ 1,631	$ 1,891
Mortgage loans originated and purchased, net of fees	16,257	10,630
Loans sold	(15,203)	(11,377)
Repurchase of loans out of Ginnie Mae securitizations	715	475
Transfer of mortgage loans held for sale to advances/accounts receivable, net related to claims	(7)	(6)
Net transfer of mortgage loans held for sale from REO in other assets	7	12
Changes in fair value	16	1
Other purchase-related activities	6	9
Balance - end of period	$ 3,422	$ 1,635

XML 89 R72.htm IDEA: XBRL DOCUMENT

Mortgage Loans Held for Sale and Investment - Mortgage Loans Held for Investment (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage loans held for investment	$ 114	$ 119
Mortgage loans held for investment, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans held for investment – UPB	148	156
Fair value adjustments	(34)	(37)
Total mortgage loans held for investment	$ 114	$ 119

XML 90 R73.htm IDEA: XBRL DOCUMENT

Mortgage Loans Held for Sale and Investment - Mortgage Loans Held For Investment - UPB, Fair Value (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Mortgage Loans Held For Investment [Roll Forward]
Balance - beginning of period	$ 119
Changes in fair value	3	$ 0
Balance - end of period	114
Mortgage loans held for investment, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB	21		$ 27
Fair Value	10		$ 13
Mortgage Loans Held For Investment [Roll Forward]
Balance - beginning of period	119
Payments received from borrowers	(8)
Changes in fair value	3
Balance - end of period	$ 114

XML 91 R74.htm IDEA: XBRL DOCUMENT

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
ROU asset	$ 139	$ 139	$ 0
Operating lease liabilities	148	148	$ 0
Short-term lease cost (less than $1)	0	1
Finance lease liability	$ 4	$ 4
Minimum
Lessee, Lease, Description [Line Items]
Term of lease	1 year	1 year
Term of extension	3 years	3 years
Maximum
Lessee, Lease, Description [Line Items]
Term of lease	9 years	9 years
Term of extension	5 years	5 years

XML 92 R75.htm IDEA: XBRL DOCUMENT

Leases - Net Lease Costs (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Leases - Net Lease Costs (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 11	$ 19
Short-term lease cost	0	1
Sublease income	(1)	(1)
Net lease cost	$ 10	$ 19

XML 93 R76.htm IDEA: XBRL DOCUMENT

Leases - Other Information (Details) $ in Millions	3 Months Ended	6 Months Ended
Leases - Other Information (Details) $ in Millions	Jun. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 7	$ 13
Leased assets obtained in exchange for new operating lease liabilities	$ 28	$ 155
Weighted average remaining lease term - operating leases, in years	5 years 8 months 12 days	6 years 1 month 6 days
Weighted average discount rate - operating leases	5.00%	5.00%

XML 94 R77.htm IDEA: XBRL DOCUMENT

Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Operating Leases
2019	$ 19
2020	40
2021	32
2022	23
2023	18
2024 and thereafter	19
Total minimum lease payments	151
Less: imputed interest	3
Total operating lease liabilities	$ 148	$ 0

XML 95 R78.htm IDEA: XBRL DOCUMENT

Other Assets - Schedule of Others Assets (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Loans subject to repurchase from Ginnie Mae	$ 723	$ 266
Accrued revenues	136	145
Right-of-use assets	139	0
Intangible assets	105	117
Goodwill	120	23
Other	306	244
Total other assets	$ 1,529	$ 795

XML 96 R79.htm IDEA: XBRL DOCUMENT

Other Assets - Goodwill Rollforward (Details) $ in Millions	6 Months Ended
Other Assets - Goodwill Rollforward (Details) $ in Millions	Jun. 30, 2019 USD ($)
Goodwill [Roll Forward]
Balance - beginning of period	$ 23
Additions from acquisitions	42
Measurement period adjustment related to Merger	55
Balance - end of period	$ 120

XML 97 R80.htm IDEA: XBRL DOCUMENT

Other Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	12 Months Ended
Other Assets - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2019	Dec. 31, 2018	Feb. 01, 2019	Aug. 01, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loans subject to repurchase from Ginnie Mae	$ 723		$ 723	$ 266
Goodwill	120		120	23
Goodwill adjustment			55
Goodwill acquired			42
REO loans with government guarantee	12		12	10
Pacific Union
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loans subject to repurchase from Ginnie Mae	485		485
Goodwill	40		40		$ 40
Intangible assets acquired			13
Goodwill adjustment	11
Seterus
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible assets acquired			2
Nationstar Mortgage Holdings Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill	$ 65		65	10		$ 65
Intangible assets acquired				103
Goodwill adjustment		$ 55	$ 55
Goodwill acquired				10
Assurant Mortgage Solutions Group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible assets acquired				24
Goodwill acquired				$ 13

XML 98 R81.htm IDEA: XBRL DOCUMENT

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Collateral deposit assets (liabilities)	$ 25	$ 12

XML 99 R82.htm IDEA: XBRL DOCUMENT

Derivative Financial Instruments - Derivative Instruments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Derivative instruments at fair value, less than	$ 0.1	$ 0.1	$ 0.1
Derivative Assets \| Loan sale commitments
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	1,659.0	368.0
Fair Value - Asset	47.0	7.2
Recorded Gains/(Losses)	21.1	7.1
Derivative Assets \| IRLCs
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	3,649.0	1,778.0
Fair Value - Asset	110.2	60.2
Recorded Gains/(Losses)	50.5	0.9
Derivative Assets \| Forward sales of MBS
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	762.0	568.0
Fair Value - Asset	1.1	0.4
Recorded Gains/(Losses)	(0.7)	(2.0)
Derivative Assets \| LPCs
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	1,327.0	271.0
Fair Value - Asset	16.5	1.7
Recorded Gains/(Losses)	14.8	0.8
Derivative Assets \| Treasury futures
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset		35.0
Fair Value - Asset		0.1
Recorded Gains/(Losses)		(1.8)
Derivative Assets \| Eurodollar futures
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	8.0	22.0
Fair Value - Asset	0.0	0.0
Recorded Gains/(Losses)	0.0	0.0
Derivative Liabilities \| IRLCs
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	4.0	1.0
Fair Value - Liability	0.0	0.0
Recorded Gains/(Losses)	0.0	0.0
Derivative Liabilities \| Forward sales of MBS
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	4,932.0	2,710.0
Fair Value - Liability	30.3	8.0
Recorded Gains/(Losses)	6.4	5.2
Derivative Liabilities \| LPCs
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	212.0	185.0
Fair Value - Liability	1.3	0.7
Recorded Gains/(Losses)	0.8	0.1
Derivative Liabilities \| Treasury futures
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability		63.0
Fair Value - Liability		0.0
Recorded Gains/(Losses)		(1.4)
Derivative Liabilities \| Eurodollar futures
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	12.0	6.0
Fair Value - Liability	0.0	0.0
Recorded Gains/(Losses)	$ 0.0	$ 0.0

XML 100 R83.htm IDEA: XBRL DOCUMENT

Indebtedness - Notes Payable Summary (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt Outstanding	$ 567,000,000	$ 595,000,000
Servicing Segment \| Notes Payable, Other
Debt Instrument [Line Items]
Debt outstanding, gross	568,000,000	595,000,000
Debt Outstanding	567,000,000	595,000,000
Collateral Pledged	714,000,000	777,000,000
Servicing Segment \| Notes Payable, Other \| Nationstar mortgage advance receivable trust
Debt Instrument [Line Items]
Capacity Amount	325,000,000
Debt outstanding, gross	229,000,000	209,000,000
Collateral Pledged	$ 290,000,000	284,000,000
Servicing Segment \| Notes Payable, Other \| Nationstar mortgage advance receivable trust \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Servicing Segment \| Notes Payable, Other \| Nationstar mortgage advance receivable trust \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	6.50%
Servicing Segment \| Notes Payable, Other \| Nationstar agency advance receivable trust
Debt Instrument [Line Items]
Capacity Amount	$ 250,000,000
Debt outstanding, gross	162,000,000	218,000,000
Collateral Pledged	$ 194,000,000	255,000,000
Servicing Segment \| Notes Payable, Other \| Nationstar agency advance receivable trust \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Servicing Segment \| Notes Payable, Other \| Nationstar agency advance receivable trust \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.60%
Servicing Segment \| Notes Payable, Other \| MBS servicer advance facility (2014)
Debt Instrument [Line Items]
Capacity Amount	$ 200,000,000
Debt outstanding, gross	90,000,000	90,000,000
Collateral Pledged	$ 131,000,000	149,000,000
Servicing Segment \| Notes Payable, Other \| MBS servicer advance facility (2014) \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.50%
Servicing Segment \| Notes Payable, Other \| Nationstar agency advance financing facility
Debt Instrument [Line Items]
Capacity Amount	$ 125,000,000
Debt outstanding, gross	87,000,000	78,000,000
Collateral Pledged	$ 99,000,000	89,000,000
Servicing Segment \| Notes Payable, Other \| Nationstar agency advance financing facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Servicing Segment \| Notes Payable, Other \| Nationstar agency advance financing facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	7.40%
Servicing Segment \| Advance facilities
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ (1,000,000)	0
Originations Segment \| Mortgage loans, net
Debt Instrument [Line Items]
Debt Outstanding	3,204,000,000	1,528,000,000
Collateral Pledged	3,319,000,000	1,628,000,000
Originations Segment \| Reverse mortgage interests
Debt Instrument [Line Items]
Debt Outstanding	652,000,000	722,000,000
Collateral Pledged	754,000,000	838,000,000
Originations Segment \| MSR
Debt Instrument [Line Items]
Debt Outstanding	190,000,000	100,000,000
Collateral Pledged	1,214,000,000	1,686,000,000
Originations Segment \| Notes Payable to Banks
Debt Instrument [Line Items]
Debt outstanding, gross	3,856,000,000	2,250,000,000
Collateral Pledged	4,073,000,000	2,466,000,000
Originations Segment \| Notes Payable to Banks \| $1,200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	1,200,000,000
Debt outstanding, gross	715,000,000	560,000,000
Collateral Pledged	$ 762,000,000	622,000,000
Originations Segment \| Notes Payable to Banks \| $1,200 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.70%
Originations Segment \| Notes Payable to Banks \| $1,200 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	3.50%
Originations Segment \| Notes Payable to Banks \| $1,000 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 1,000,000,000
Debt outstanding, gross	629,000,000	137,000,000
Collateral Pledged	$ 646,000,000	140,000,000
Originations Segment \| Notes Payable to Banks \| $1,000 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.60%
Originations Segment \| Notes Payable to Banks \| $1,000 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.50%
Originations Segment \| Notes Payable to Banks \| $750 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 750,000,000
Debt outstanding, gross	416,000,000	119,000,000
Collateral Pledged	$ 424,000,000	122,000,000
Originations Segment \| Notes Payable to Banks \| $750 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.40%
Originations Segment \| Notes Payable to Banks \| $750 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.80%
Originations Segment \| Notes Payable to Banks \| $800 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 800,000,000
Debt outstanding, gross	531,000,000	464,000,000
Collateral Pledged	$ 576,000,000	514,000,000
Originations Segment \| Notes Payable to Banks \| $800 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Originations Segment \| Notes Payable to Banks \| $800 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.90%
Originations Segment \| Notes Payable to Banks \| $600 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 600,000,000
Debt outstanding, gross	226,000,000	151,000,000
Collateral Pledged	$ 258,000,000	168,000,000
Originations Segment \| Notes Payable to Banks \| $600 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.30%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 500,000,000
Debt outstanding, gross	382,000,000	187,000,000
Collateral Pledged	$ 395,000,000	200,000,000
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	3.00%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 500,000,000
Debt outstanding, gross	377,000,000	220,000,000
Collateral Pledged	$ 410,000,000	248,000,000
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.80%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 500,000,000
Debt outstanding, gross	49,000,000	290,000,000
Collateral Pledged	$ 51,000,000	299,000,000
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	2.00%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.30%
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 200,000,000
Debt outstanding, gross	194,000,000	0
Collateral Pledged	$ 187,000,000	0
Basis spread on rate	1.00%
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 200,000,000
Debt outstanding, gross	107,000,000	0
Collateral Pledged	$ 103,000,000	0
Basis spread on rate	1.50%
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 200,000,000
Debt outstanding, gross	104,000,000	0
Collateral Pledged	$ 103,000,000	0
Basis spread on rate	1.50%
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 200,000,000
Debt outstanding, gross	88,000,000	103,000,000
Collateral Pledged	$ 116,000,000	132,000,000
Basis spread on rate	2.00%
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 200,000,000
Debt outstanding, gross	32,000,000	18,000,000
Collateral Pledged	$ 33,000,000	19,000,000
Basis spread on rate	1.20%
Originations Segment \| Notes Payable to Banks \| $50 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 50,000,000
Debt outstanding, gross	5,000,000	0
Collateral Pledged	$ 7,000,000	0
Originations Segment \| Notes Payable to Banks \| $50 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	2.70%
Originations Segment \| Notes Payable to Banks \| $50 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	7.50%
Originations Segment \| Notes Payable to Banks \| $40 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 40,000,000
Debt outstanding, gross	1,000,000	1,000,000
Collateral Pledged	$ 2,000,000	2,000,000
Basis spread on rate	3.00%
Originations Segment \| Mortgage servicing rights
Debt Instrument [Line Items]
Debt outstanding, gross	$ 190,000,000	100,000,000
Collateral Pledged	1,214,000,000	1,686,000,000
Originations Segment \| Mortgage servicing rights \| $400 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	400,000,000
Debt outstanding, gross	150,000,000	100,000,000
Collateral Pledged	$ 786,000,000	928,000,000
Originations Segment \| Mortgage servicing rights \| $400 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	3.50%
Originations Segment \| Mortgage servicing rights \| $400 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	6.10%
Originations Segment \| Mortgage servicing rights \| $400 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 400,000,000
Debt outstanding, gross	25,000,000	0
Collateral Pledged	$ 215,000,000	226,000,000
Originations Segment \| Mortgage servicing rights \| $400 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.30%
Originations Segment \| Mortgage servicing rights \| $150 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 150,000,000
Debt outstanding, gross	0	0
Collateral Pledged	$ 121,000,000	430,000,000
Originations Segment \| Mortgage servicing rights \| $150 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.80%
Originations Segment \| Mortgage servicing rights \| $50 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 50,000,000
Debt outstanding, gross	15,000,000	0
Collateral Pledged	$ 92,000,000	102,000,000
Originations Segment \| Mortgage servicing rights \| $50 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.80%
Originations Segment \| Warehouse Facilities
Debt Instrument [Line Items]
Debt outstanding, gross	$ 4,046,000,000	2,350,000,000
Unamortized debt issuance costs	(1,000,000)	(1,000,000)
Debt Outstanding	4,045,000,000	2,349,000,000
Collateral Pledged	$ 5,287,000,000	$ 4,152,000,000

XML 101 R84.htm IDEA: XBRL DOCUMENT

Indebtedness - Summary of Unsecured Senior Notes (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Jul. 13, 2018
Debt Instrument [Line Items]
Unsecured senior notes, net	$ 2,462,000,000	$ 2,459,000,000
$950 face value, 8.125% interest rate payable semi-annually, due July 2023
Debt Instrument [Line Items]
Debt issued			$ 950,000,000
Interest Rate			8.125%
$750 face value, 9.125% interest rate payable semi-annually, due July 2026
Debt Instrument [Line Items]
Debt issued			$ 750,000,000
Interest Rate			9.125%
Unsecured Senior Notes
Debt Instrument [Line Items]
Unsecured senior notes principal amount	2,498,000,000	2,498,000,000
Unamortized debt issuance costs	(36,000,000)	(39,000,000)
Unsecured senior notes, net	2,462,000,000	2,459,000,000
Debt issued	2,498,000,000
Unsecured Senior Notes \| $950 face value, 8.125% interest rate payable semi-annually, due July 2023
Debt Instrument [Line Items]
Unsecured senior notes principal amount	950,000,000	950,000,000
Debt issued	$ 950,000,000
Interest Rate	8.125%
Unsecured Senior Notes \| $750 face value, 9.125% interest rate payable semi-annually, due July 2026
Debt Instrument [Line Items]
Unsecured senior notes principal amount	$ 750,000,000	750,000,000
Debt issued	$ 750,000,000
Interest Rate	9.125%
Unsecured Senior Notes \| $600 face value, 6.500% interest rate payable semi-annually, due July 2021
Debt Instrument [Line Items]
Unsecured senior notes principal amount	$ 592,000,000	592,000,000
Debt issued	$ 600,000,000
Interest Rate	6.50%
Unsecured Senior Notes \| $300 face value, 6.500% interest rate payable semi-annually, due June 2022
Debt Instrument [Line Items]
Unsecured senior notes principal amount	$ 206,000,000	$ 206,000,000
Debt issued	$ 300,000,000
Interest Rate	6.50%

XML 102 R85.htm IDEA: XBRL DOCUMENT

Indebtedness - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
Indebtedness - Narrative (Details) - USD ($)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Nov. 30, 2009
Debt Instrument [Line Items]
Repurchase of unsecured senior notes			$ 0	$ 62,000,000
Principal amount outstanding on securitized financing						$ 222,000,000
Non-recourse debt	$ 5,985,000,000		5,985,000,000		$ 6,795,000,000
Minimum tangible net worth	682,000,000		682,000,000
Securities Pledged as Collateral
Debt Instrument [Line Items]
Principal amount outstanding on securitized financing	151,000,000		$ 151,000,000		160,000,000
New Notes
Debt Instrument [Line Items]
Maximum percentage redeemable on unsecured debt			40.00%
Unsecured Senior Notes
Debt Instrument [Line Items]
Maximum percentage redeemable on unsecured debt			35.00%
Nonrecourse debt–legacy assets
Debt Instrument [Line Items]
Carrying value on loans outstanding	22,000,000		$ 22,000,000		29,000,000
Non-recourse debt	22,000,000		22,000,000		$ 29,000,000
Unsecured Senior Notes
Debt Instrument [Line Items]
Repurchase of unsecured senior notes	$ 0	$ 44,000,000	$ 0	60,000,000
Loss on repurchase of debt		$ 1,000,000		$ 2,000,000
Secured Debt \| Nonrecourse debt–legacy assets
Debt Instrument [Line Items]
Interest rate	7.50%		7.50%
Minimum \| Nonrecourse debt–legacy assets
Debt Instrument [Line Items]
Interest rate	2.718%		2.718%
Minimum \| Secured Debt \| HECM Securitizations
Debt Instrument [Line Items]
Interest rate	2.70%		2.70%
Weighted average useful life			1 year
Maximum \| Nonrecourse debt–legacy assets
Debt Instrument [Line Items]
Interest rate	5.97%		5.97%
Maximum \| Secured Debt \| HECM Securitizations
Debt Instrument [Line Items]
Interest rate	6.00%		6.00%
Weighted average useful life			4 years

XML 103 R86.htm IDEA: XBRL DOCUMENT

Indebtedness - Schedule of Notes Maturity (Details) - Unsecured Senior Notes $ in Millions	Jun. 30, 2019 USD ($)
Debt Instrument [Line Items]
2019	$ 0
2020	0
2021	592
2022	206
2023	950
Thereafter	750
Total	$ 2,498

XML 104 R87.htm IDEA: XBRL DOCUMENT

Indebtedness - Summary of Other Non-Recourse Debt (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Non-recourse debt	$ 5,985,000,000	$ 6,795,000,000
Unamortized debt issuance costs, premium, and issuance discount	26,000,000	68,000,000
Participating Interest Financing
Debt Instrument [Line Items]
Non-recourse debt	4,861,000,000	5,607,000,000
Trust 2017-2
Debt Instrument [Line Items]
Non-recourse debt	0	231,000,000
Trust 2018-1
Debt Instrument [Line Items]
Non-recourse debt	224,000,000	284,000,000
Trust 2018-2
Debt Instrument [Line Items]
Non-recourse debt	182,000,000	250,000,000
Trust 2018-3
Debt Instrument [Line Items]
Non-recourse debt	272,000,000	326,000,000
Trust 2019-1
Debt Instrument [Line Items]
Non-recourse debt	398,000,000	0
Legacy Asset
Debt Instrument [Line Items]
Non-recourse debt	22,000,000	29,000,000
Other
Debt Instrument [Line Items]
Non-recourse debt	5,959,000,000	$ 6,727,000,000
Nonrecourse debt–legacy assets \| Participating Interest Financing
Debt Instrument [Line Items]
Securitized Amount	0
Nonrecourse debt–legacy assets \| Trust 2017-2
Debt Instrument [Line Items]
Securitized Amount	0
Nonrecourse debt–legacy assets \| Trust 2018-1
Debt Instrument [Line Items]
Securitized Amount	252,000,000
Nonrecourse debt–legacy assets \| Trust 2018-2
Debt Instrument [Line Items]
Securitized Amount	198,000,000
Nonrecourse debt–legacy assets \| Trust 2018-3
Debt Instrument [Line Items]
Securitized Amount	284,000,000
Nonrecourse debt–legacy assets \| Trust 2019-1
Debt Instrument [Line Items]
Securitized Amount	398,000,000
Nonrecourse debt–legacy assets \| Legacy Asset
Debt Instrument [Line Items]
Securitized Amount	$ 97,000,000

XML 105 R88.htm IDEA: XBRL DOCUMENT

Payables and Other Liabilities - Schedule of Accounts Payable (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Loans subject to repurchase from Ginnie Mae	$ 723	$ 266
Payables to servicing and subservicing investors	625	494
Operating lease liabilities	148	0
Payables to GSEs and securitized trusts	42	105
MSR purchases payable including advances	24	182
Other liabilities	554	496
Total payables and other liabilities	$ 2,116	$ 1,543

XML 106 R89.htm IDEA: XBRL DOCUMENT

Payables and Other Liabilities - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Loans subject to repurchase from Ginnie Mae	$ 723	$ 266
Pacific Union
Business Acquisition [Line Items]
Loans subject to repurchase from Ginnie Mae	$ 485

XML 107 R90.htm IDEA: XBRL DOCUMENT

Payables and Other Liabilities - Repurchase Reserves (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Loans Subject to Repurchase Reserve [Roll Forward]
Balance - beginning of period	$ 16	$ 9	$ 8	$ 9
Provisions	8	2	16	3
Releases	(1)	(2)	(1)	(3)
Balance - end of period	$ 23	$ 9	$ 23	$ 9

XML 108 R91.htm IDEA: XBRL DOCUMENT

Securitizations and Financings - Assets and Liabilities of Consolidated VIEs (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019 USD ($) special_purpose_entity	Dec. 31, 2018 USD ($)
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Number of SPEs \| special_purpose_entity	4
Assets	$ 755	$ 816
Reverse Secured Borrowings, Assets, Carrying Amount	6,024	6,791
Liabilities	501	535
Reverse Secured Borrowings, Liabilities, Carrying Amount	5,937	6,699
Residential Mortgage \| Restricted cash
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	59	70
Reverse Secured Borrowings, Assets, Carrying Amount	40	63
Residential Mortgage \| Reverse mortgage interests
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	0	0
Reverse Secured Borrowings, Assets, Carrying Amount	5,975	6,728
Residential Mortgage \| Advances and other receivables, net
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	583	628
Reverse Secured Borrowings, Assets, Carrying Amount	0	0
Residential Mortgage \| Mortgage loans held for investment, net
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	113	118
Reverse Secured Borrowings, Assets, Carrying Amount	0	0
Residential Mortgage \| Other assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	0	0
Reverse Secured Borrowings, Assets, Carrying Amount	9	0
Residential Mortgage \| Advance facilities
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	478	505
Reverse Secured Borrowings, Liabilities, Carrying Amount	0	0
Residential Mortgage \| Payables and other liabilities
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	1	1
Reverse Secured Borrowings, Liabilities, Carrying Amount	0	1
Residential Mortgage \| Participating interest financing
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	0
Reverse Secured Borrowings, Liabilities, Carrying Amount	4,861	5,607
Residential Mortgage \| Trust 2017-2 \| Other non-recourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	0
Reverse Secured Borrowings, Liabilities, Carrying Amount	0	231
Residential Mortgage \| Trust 2018-1 \| Other non-recourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	0
Reverse Secured Borrowings, Liabilities, Carrying Amount	224	284
Residential Mortgage \| Trust 2018-2 \| Other non-recourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	0
Reverse Secured Borrowings, Liabilities, Carrying Amount	182	250
Residential Mortgage \| Trust 2018-3 \| Other non-recourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	0
Reverse Secured Borrowings, Liabilities, Carrying Amount	272	326
Residential Mortgage \| Trust 2019-1 \| Other non-recourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	0
Reverse Secured Borrowings, Liabilities, Carrying Amount	398	0
Residential Mortgage \| Other nonrecourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	22	29
Reverse Secured Borrowings, Liabilities, Carrying Amount	$ 0	$ 0

XML 109 R92.htm IDEA: XBRL DOCUMENT

Securitizations and Financings - Securitization Trusts (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Variable Interest Entities and Securitizations [Abstract]
Total collateral balances	$ 1,752	$ 1,873
Total certificate balances	1,697	1,817
Unconsolidated securitization trusts	$ 242	$ 285

XML 110 R93.htm IDEA: XBRL DOCUMENT

Stockholders' Equity - Narrative (Details) - RSUs - Certain Employees - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Class of Stock [Line Items]
Shares granted (in shares)			2,449	1,071
Compensation expense	$ 5	$ 4	$ 9	$ 8
Tranche One
Class of Stock [Line Items]
Vesting percentage			33.30%
Tranche Two
Class of Stock [Line Items]
Vesting percentage			33.30%
Tranche Three
Class of Stock [Line Items]
Vesting percentage			33.40%

XML 111 R94.htm IDEA: XBRL DOCUMENT

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share [Abstract]
Net (loss) income attributable to Successor/Predecessor	$ (87)	$ 58	$ (273)	$ 218
Less: Undistributed earnings attributable to participating stockholders	0	0	0	0
Net (loss) income attributable to common stockholders	$ (87)	$ 58	$ (273)	$ 218
Net (loss) income per common share attributable to Successor/Predecessor:
Basic (in dollars per share)	$ (0.96)	$ 0.59	$ (3.00)	$ 2.22
Diluted (in dollars per share)	$ (0.96)	$ 0.59	$ (3.00)	$ 2.20
Weighted average shares of common stock outstanding (in thousands):
Basic (in shares)	91,054	98,203	90,978	98,037
Dilutive effect of stock awards (in shares)	0	927	0	1,086
Dilutive effect of participating securities (in shares)	0	0	0	0
Diluted (in shares)	91,054	99,130	90,978	99,123

XML 112 R95.htm IDEA: XBRL DOCUMENT

Income Taxes - Schedule of Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
(Loss) income before income tax (benefit) expense	$ (117)	$ 79	$ (350)	$ 285
Income tax (benefit) expense	$ (29)	$ 21	$ (76)	$ 67
Effective tax rate	24.60%	26.50%	21.70%	23.60%

XML 113 R96.htm IDEA: XBRL DOCUMENT

Income Taxes - Narrative (Details)	3 Months Ended		6 Months Ended
Income Taxes - Narrative (Details)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Statutory federal rate percentage	21.00%	21.00%	21.00%	21.00%

XML 114 R97.htm IDEA: XBRL DOCUMENT

Fair Value Measurements - Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Assets
Mortgage loans held for sale	$ 3,422.0	$ 1,631.0
Mortgage loans held for investment	114.0	119.0
Mortgage servicing rights	3,505.0	3,665.0
Liabilities
Mortgage servicing rights financing	43.0	32.0
Derivative instruments at fair value, less than	0.1	0.1	$ 0.1
Recurring Fair Value Measurements
Assets
Mortgage loans held for sale	3,421.6	1,630.8
Mortgage loans held for investment	114.3	119.1
Mortgage servicing rights	3,504.5	3,665.4
Derivative financial instruments	128.0	49.0
Total assets	7,168.2	5,464.7
Liabilities
Mortgage servicing rights financing	42.6	31.7
Excess spread financing	1,429.4	1,184.4
Total liabilities	1,503.6	1,235.8
Recurring Fair Value Measurements \| IRLCs
Assets
Derivative financial instruments	110.2	47.6
Liabilities
Derivative financial instruments	0.0
Recurring Fair Value Measurements \| Forward sales of MBS
Assets
Derivative financial instruments	1.1	0.1
Liabilities
Derivative financial instruments	30.3	19.3
Recurring Fair Value Measurements \| LPCs
Assets
Derivative financial instruments	16.5	1.7
Liabilities
Derivative financial instruments	1.3	0.4
Recurring Fair Value Measurements \| Eurodollar futures
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 1
Assets
Mortgage loans held for sale	0.0	0.0
Mortgage loans held for investment	0.0	0.0
Mortgage servicing rights	0.0	0.0
Derivative financial instruments	0.0	0.0
Total assets	0.0	0.0
Liabilities
Mortgage servicing rights financing	0.0	0.0
Excess spread financing	0.0	0.0
Total liabilities	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| IRLCs
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0
Recurring Fair Value Measurements \| Level 1 \| Forward sales of MBS
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| LPCs
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Eurodollar futures
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 2
Assets
Mortgage loans held for sale	3,421.6	1,630.8
Mortgage loans held for investment	0.0	0.0
Mortgage servicing rights	0.0	0.0
Derivative financial instruments	128.0	49.0
Total assets	3,549.4	1,680.2
Liabilities
Mortgage servicing rights financing	0.0	0.0
Excess spread financing	0.0	0.0
Total liabilities	31.6	19.7
Recurring Fair Value Measurements \| Level 2 \| IRLCs
Assets
Derivative financial instruments	110.2	47.6
Liabilities
Derivative financial instruments	0.0
Recurring Fair Value Measurements \| Level 2 \| Forward sales of MBS
Assets
Derivative financial instruments	1.1	0.1
Liabilities
Derivative financial instruments	30.3	19.3
Recurring Fair Value Measurements \| Level 2 \| LPCs
Assets
Derivative financial instruments	16.5	1.7
Liabilities
Derivative financial instruments	1.3	0.4
Recurring Fair Value Measurements \| Level 2 \| Eurodollar futures
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 3
Assets
Mortgage loans held for sale	0.0	0.0
Mortgage loans held for investment	114.3	119.1
Mortgage servicing rights	3,504.5	3,665.4
Derivative financial instruments	0.0	0.0
Total assets	3,618.8	3,784.5
Liabilities
Mortgage servicing rights financing	42.6	31.7
Excess spread financing	1,429.4	1,184.4
Total liabilities	1,472.0	1,216.1
Recurring Fair Value Measurements \| Level 3 \| IRLCs
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0
Recurring Fair Value Measurements \| Level 3 \| Forward sales of MBS
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 3 \| LPCs
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 3 \| Eurodollar futures
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	$ 0.0	$ 0.0

XML 115 R98.htm IDEA: XBRL DOCUMENT

Fair Value Measurements - Level 3 Reconciliation (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Excess spread financing
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	$ 1,184	$ 996
Total gains or losses included in earnings	(74)	74
Payments received from borrowers	0
Purchases	0	0
Issuances	438	70
Sales	0	0
Repayments	(12)	(2)
Settlements	(107)	(91)
Balance - end of period	1,429	1,047
Mortgage servicing rights financing
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	32	10
Total gains or losses included in earnings	11	6
Payments received from borrowers	0
Purchases	0	0
Issuances	0	0
Sales	0	0
Repayments	0	0
Settlements	0	0
Balance - end of period	43	16
Mortgage servicing rights
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	3,665	2,937
Total gains or losses included in earnings	(724)	144
Payments received from borrowers	0
Purchases	689	132
Issuances	169	139
Sales	(294)	4
Repayments	0	0
Settlements	0	0
Balance - end of period	3,505	$ 3,356
Mortgage loans held for investment
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	119
Total gains or losses included in earnings	3
Payments received from borrowers	(8)
Purchases	0
Issuances	0
Sales	0
Repayments	0
Settlements	0
Balance - end of period	$ 114

XML 116 R99.htm IDEA: XBRL DOCUMENT

Fair Value Measurements - Fair Value by Balance Sheet Line Item (Details) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Financial assets
Restricted cash	$ 304.0	$ 319.0
Reverse mortgage interests, net	7,110.0	7,934.0
Mortgage loans held for sale	3,422.0	1,631.0
Mortgage loans held for investment, net	114.0	119.0
Financial liabilities
Unsecured senior notes	2,462.0	2,459.0
Advance facilities	567.0	595.0
Warehouse facilities	4,045.0	2,349.0
Mortgage servicing rights financing liability	43.0	32.0
Excess spread financing	1,429.0	1,184.0
Other nonrecourse debt	5,985.0	6,795.0
Participating Interest Financing
Financial liabilities
Other nonrecourse debt	4,861.0	5,607.0
Trust 2017-2
Financial liabilities
Other nonrecourse debt	0.0	231.0
Trust 2018-1
Financial liabilities
Other nonrecourse debt	224.0	284.0
Trust 2018-2
Financial liabilities
Other nonrecourse debt	182.0	250.0
Trust 2018-3
Financial liabilities
Other nonrecourse debt	272.0	326.0
Trust 2019-1
Financial liabilities
Other nonrecourse debt	398.0	0.0
Legacy Asset
Financial liabilities
Other nonrecourse debt	22.0	29.0
Recurring Fair Value Measurements
Financial assets
Cash and cash equivalents	245.0	242.0
Restricted cash	304.0	319.0
Advances and other receivables, net	1,000.0	1,194.0
Reverse mortgage interests, net	7,110.0	7,934.0
Mortgage loans held for sale	3,421.6	1,630.8
Mortgage loans held for investment, net	114.3	119.1
Derivative financial instruments	128.0	49.0
Financial liabilities
Unsecured senior notes	2,462.0	2,459.0
Advance facilities	567.0	595.0
Warehouse facilities	4,045.0	2,349.0
Mortgage servicing rights financing liability	42.6	31.7
Excess spread financing	1,429.0	1,184.0
Derivative financial instruments at fair value	32.0	20.0
Recurring Fair Value Measurements \| Participating Interest Financing
Financial liabilities
Other nonrecourse debt	4,887.0	5,675.0
Recurring Fair Value Measurements \| Trust 2017-2
Financial liabilities
Other nonrecourse debt		231.0
Recurring Fair Value Measurements \| Trust 2018-1
Financial liabilities
Other nonrecourse debt	224.0	284.0
Recurring Fair Value Measurements \| Trust 2018-2
Financial liabilities
Other nonrecourse debt	182.0	250.0
Recurring Fair Value Measurements \| Trust 2018-3
Financial liabilities
Other nonrecourse debt	272.0	326.0
Recurring Fair Value Measurements \| Trust 2019-1
Financial liabilities
Other nonrecourse debt	398.0
Recurring Fair Value Measurements \| Legacy Asset
Financial liabilities
Other nonrecourse debt	22.0	29.0
Recurring Fair Value Measurements \| Level 1
Financial assets
Cash and cash equivalents	245.0	242.0
Restricted cash	304.0	319.0
Advances and other receivables, net	0.0	0.0
Reverse mortgage interests, net	0.0	0.0
Mortgage loans held for sale	0.0	0.0
Mortgage loans held for investment, net	0.0	0.0
Derivative financial instruments	0.0	0.0
Financial liabilities
Unsecured senior notes	2,529.0	2,451.0
Advance facilities	0.0	0.0
Warehouse facilities	0.0	0.0
Mortgage servicing rights financing liability	0.0	0.0
Excess spread financing	0.0	0.0
Derivative financial instruments at fair value	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Participating Interest Financing
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2017-2
Financial liabilities
Other nonrecourse debt		0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2018-1
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2018-2
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2018-3
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2019-1
Financial liabilities
Other nonrecourse debt	0.0
Recurring Fair Value Measurements \| Level 1 \| Legacy Asset
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 2
Financial assets
Cash and cash equivalents	0.0	0.0
Restricted cash	0.0	0.0
Advances and other receivables, net	0.0	0.0
Reverse mortgage interests, net	0.0	0.0
Mortgage loans held for sale	3,421.6	1,630.8
Mortgage loans held for investment, net	0.0	0.0
Derivative financial instruments	128.0	49.0
Financial liabilities
Unsecured senior notes	0.0	0.0
Advance facilities	567.0	595.0
Warehouse facilities	4,045.0	2,349.0
Mortgage servicing rights financing liability	0.0	0.0
Excess spread financing	0.0	0.0
Derivative financial instruments at fair value	32.0	20.0
Recurring Fair Value Measurements \| Level 2 \| Participating Interest Financing
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2017-2
Financial liabilities
Other nonrecourse debt		0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2018-1
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2018-2
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2018-3
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2019-1
Financial liabilities
Other nonrecourse debt	0.0
Recurring Fair Value Measurements \| Level 2 \| Legacy Asset
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 3
Financial assets
Cash and cash equivalents	0.0	0.0
Restricted cash	0.0	0.0
Advances and other receivables, net	1,000.0	1,194.0
Reverse mortgage interests, net	7,176.0	7,942.0
Mortgage loans held for sale	0.0	0.0
Mortgage loans held for investment, net	114.3	119.1
Derivative financial instruments	0.0	0.0
Financial liabilities
Unsecured senior notes	0.0	0.0
Advance facilities	0.0	0.0
Warehouse facilities	0.0	0.0
Mortgage servicing rights financing liability	42.6	31.7
Excess spread financing	1,429.0	1,184.0
Derivative financial instruments at fair value	0.0	0.0
Recurring Fair Value Measurements \| Level 3 \| Participating Interest Financing
Financial liabilities
Other nonrecourse debt	4,886.0	5,672.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2017-2
Financial liabilities
Other nonrecourse debt		230.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2018-1
Financial liabilities
Other nonrecourse debt	224.0	284.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2018-2
Financial liabilities
Other nonrecourse debt	182.0	249.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2018-3
Financial liabilities
Other nonrecourse debt	272.0	326.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2019-1
Financial liabilities
Other nonrecourse debt	398.0
Recurring Fair Value Measurements \| Level 3 \| Legacy Asset
Financial liabilities
Other nonrecourse debt	$ 22.0	$ 28.0

XML 117 R100.htm IDEA: XBRL DOCUMENT

Capital Requirements - Narrative (Details) $ in Millions	Jun. 30, 2019 USD ($)
Mortgage Banking [Abstract]
Minimum net worth required for compliance	$ 856

XML 118 R101.htm IDEA: XBRL DOCUMENT

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Loss Contingencies [Line Items]
Legal fees	$ 21	$ 3	$ 32	$ 7
Reverse Mortgage Servicing Rights, Excluding Subservicing
Loss Contingencies [Line Items]
UPB	25,569		25,569		$ 28,415
Warehouse facilities, net of unamortized debt issuance costs
Loss Contingencies [Line Items]
Unfunded advance obligations	2,869		2,869		$ 3,128
Litigation and Regulatory Matters \| Minimum
Loss Contingencies [Line Items]
Estimate of possible loss	16		16
Litigation and Regulatory Matters \| Maximum
Loss Contingencies [Line Items]
Estimate of possible loss	$ 45		$ 45

XML 119 R102.htm IDEA: XBRL DOCUMENT

Business Segment Reporting - Financial Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) segment	Jun. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment			4
Revenues:
Service related, net	$ 137	$ 317	$ 221	$ 781
Net gain on mortgage loans held for sale	262	127	428	251
Total revenues	399	444	649	1,032
Total Expenses	492	339	935	703
Other income (expenses)
Interest income	162	140	296	285
Interest expense	(187)	(164)	(376)	(335)
Other	1	(2)	16	6
Total other income (expenses), net	(24)	(26)	(64)	(44)
(Loss) income before income tax (benefit) expense	(117)	79	(350)	285
Depreciation and amortization for property and equipment and intangible assets	24	14	45	29
Total assets	18,405	17,190	18,405	17,190	$ 16,973
Servicing Segment
Revenues:
Net gain on mortgage loans held for sale	18	11	53	22
Operating Segments
Revenues:
Service related, net	137	316	221	780
Net gain on mortgage loans held for sale	262	127	428	251
Total revenues	399	443	649	1,031
Total Expenses	435	320	833	663
Other income (expenses)
Interest income	159	138	291	279
Interest expense	(134)	(131)	(266)	(264)
Other	1	0	16	8
Total other income (expenses), net	26	7	41	23
(Loss) income before income tax (benefit) expense	(10)	130	(143)	391
Depreciation and amortization for property and equipment and intangible assets	13	12	24	25
Total assets	16,090	16,319	16,090	16,319
Operating Segments \| Servicing Segment
Revenues:
Service related, net	27	248	35	643
Net gain on mortgage loans held for sale	0	0	0	0
Total revenues	27	248	35	643
Total Expenses	189	166	384	348
Other income (expenses)
Interest income	136	121	251	247
Interest expense	(109)	(115)	(223)	(233)
Other	0	0	0	(1)
Total other income (expenses), net	27	6	28	13
(Loss) income before income tax (benefit) expense	(135)	88	(321)	308
Depreciation and amortization for property and equipment and intangible assets	4	6	8	13
Total assets	12,806	14,640	12,806	14,640
Operating Segments \| Originations Segment
Revenues:
Service related, net	20	17	35	32
Net gain on mortgage loans held for sale	244	116	375	229
Total revenues	264	133	410	261
Total Expenses	145	102	249	211
Other income (expenses)
Interest income	23	17	40	32
Interest expense	(25)	(16)	(43)	(31)
Other	1	0	5	0
Total other income (expenses), net	(1)	1	2	1
(Loss) income before income tax (benefit) expense	118	32	163	51
Depreciation and amortization for property and equipment and intangible assets	6	3	9	6
Total assets	7,478	4,794	7,478	4,794
Operating Segments \| Xome
Revenues:
Service related, net	108	62	204	127
Net gain on mortgage loans held for sale	0	0	0	0
Total revenues	108	62	204	127
Total Expenses	101	52	200	104
Other income (expenses)
Interest income	0	0	0	0
Interest expense	0	0	0	0
Other	0	0	11	9
Total other income (expenses), net	0	0	11	9
(Loss) income before income tax (benefit) expense	7	10	15	32
Depreciation and amortization for property and equipment and intangible assets	3	3	7	6
Total assets	493	423	493	423
Eliminations
Revenues:
Service related, net	(18)	(11)	(53)	(22)
Net gain on mortgage loans held for sale	18	11	53	22
Total revenues	0	0	0	0
Total Expenses	0	0	0	0
Other income (expenses)
Interest income	0	0	0	0
Interest expense	0	0	0	0
Other	0	0	0	0
Total other income (expenses), net	0	0	0	0
(Loss) income before income tax (benefit) expense	0	0	0	0
Depreciation and amortization for property and equipment and intangible assets	0	0	0	0
Total assets	(4,687)	(3,538)	(4,687)	(3,538)
Corporate/Other
Revenues:
Service related, net	0	1	0	1
Net gain on mortgage loans held for sale	0	0	0	0
Total revenues	0	1	0	1
Total Expenses	57	19	102	40
Other income (expenses)
Interest income	3	2	5	6
Interest expense	(53)	(33)	(110)	(71)
Other	0	(2)	0	(2)
Total other income (expenses), net	(50)	(33)	(105)	(67)
(Loss) income before income tax (benefit) expense	(107)	(51)	(207)	(106)
Depreciation and amortization for property and equipment and intangible assets	11	2	21	4
Total assets	$ 2,315	$ 871	$ 2,315	$ 871

XML 120 R103.htm IDEA: XBRL DOCUMENT

Guarantor Financial Statement Information - Narrative (Details) $ in Millions	Jun. 30, 2019 USD ($) subsidiary	Dec. 31, 2018 USD ($)
Condensed Financial Statements, Captions [Line Items]
Ownership percentage	100.00%
Number of subsidiaries as guarantors of unsecured debt \| subsidiary	3
Unsecured Senior Notes
Condensed Financial Statements, Captions [Line Items]
Unsecured debt	$ 2,498	$ 2,498
6.500% interest rate payable semi-annually, due July 2021 \| Unsecured Senior Notes
Condensed Financial Statements, Captions [Line Items]
Interest rate	6.50%
Unsecured debt	$ 592	592
6.500% interest rate payable semi-annually, due June 2022 \| Unsecured Senior Notes
Condensed Financial Statements, Captions [Line Items]
Interest rate	6.50%
Unsecured debt	$ 206	$ 206

XML 121 R104.htm IDEA: XBRL DOCUMENT

Guarantor Financial Statement Information - Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 245		$ 242	$ 185
Restricted cash	304		319
Mortgage servicing rights	3,511		3,676
Advances and other receivables, net	1,000		1,194
Reverse mortgage interests, net	7,110		7,934
Mortgage loans held for sale at fair value	3,422		1,631
Mortgage loans held for investment at fair value	114		119
Property and equipment, net	115		96
Deferred tax asset, net	1,055		967
Other assets	1,529		795
Investment in subsidiaries	0		0
Total assets	18,405		16,973	17,190
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	2,462		2,459
Advance facilities	567		595
Warehouse facilities	4,045		2,349
Payables and other liabilities	2,116		1,543
MSR related liabilities - nonrecourse at fair value	1,472		1,216
Mortgage servicing liabilities	80		71
Other nonrecourse debt, net	5,985		6,795
Payables to affiliates	0		0
Total liabilities	16,727		15,028
Total stockholders' equity	1,678	$ 1,761	1,945	$ 1,941	$ 1,882	$ 1,722
Total liabilities and stockholders’ equity	18,405		16,973
Eliminations
Assets
Cash and cash equivalents	0		0
Restricted cash	0		0
Mortgage servicing rights	0		0
Advances and other receivables, net	0		0
Reverse mortgage interests, net	0		0
Mortgage loans held for sale at fair value	0		0
Mortgage loans held for investment at fair value	0		0
Property and equipment, net	0		0
Deferred tax asset, net	0		0
Other assets	(739)		(688)
Investment in subsidiaries	(3,169)		(3,421)
Total assets	(3,908)		(4,109)
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	0		0
Advance facilities	0		0
Warehouse facilities	0		0
Payables and other liabilities	0		0
MSR related liabilities - nonrecourse at fair value	0		0
Mortgage servicing liabilities	0		0
Other nonrecourse debt, net	0		0
Payables to affiliates	(739)		(688)
Total liabilities	(739)		(688)
Total stockholders' equity	(3,169)		(3,421)
Total liabilities and stockholders’ equity	(3,908)		(4,109)
Mr. Cooper \| Reportable entities
Assets
Cash and cash equivalents	0		0
Restricted cash	0		0
Mortgage servicing rights	0		0
Advances and other receivables, net	0		0
Reverse mortgage interests, net	0		0
Mortgage loans held for sale at fair value	0		0
Mortgage loans held for investment at fair value	0		0
Property and equipment, net	0		0
Deferred tax asset, net	984		973
Other assets	0		0
Investment in subsidiaries	2,557		2,820
Total assets	3,541		3,793
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	1,663		1,660
Advance facilities	0		0
Warehouse facilities	0		0
Payables and other liabilities	59		49
MSR related liabilities - nonrecourse at fair value	0		0
Mortgage servicing liabilities	0		0
Other nonrecourse debt, net	0		0
Payables to affiliates	141		139
Total liabilities	1,863		1,848
Total stockholders' equity	1,678		1,945
Total liabilities and stockholders’ equity	3,541		3,793
Issuer \| Reportable entities
Assets
Cash and cash equivalents	215		193
Restricted cash	204		186
Mortgage servicing rights	3,484		3,644
Advances and other receivables, net	1,000		1,194
Reverse mortgage interests, net	6,003		6,770
Mortgage loans held for sale at fair value	3,422		1,631
Mortgage loans held for investment at fair value	2		1
Property and equipment, net	99		84
Deferred tax asset, net	69		0
Other assets	1,399		660
Investment in subsidiaries	612		601
Total assets	16,509		14,964
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	799		799
Advance facilities	89		90
Warehouse facilities	4,045		2,349
Payables and other liabilities	1,999		1,413
MSR related liabilities - nonrecourse at fair value	1,456		1,197
Mortgage servicing liabilities	80		71
Other nonrecourse debt, net	4,890		5,676
Payables to affiliates	594		549
Total liabilities	13,952		12,144
Total stockholders' equity	2,557		2,820
Total liabilities and stockholders’ equity	16,509		14,964
Guarantor (Subsidiaries of Issuer) \| Reportable entities
Assets
Cash and cash equivalents	1		1
Restricted cash	0		0
Mortgage servicing rights	0		0
Advances and other receivables, net	0		0
Reverse mortgage interests, net	0		0
Mortgage loans held for sale at fair value	0		0
Mortgage loans held for investment at fair value	0		0
Property and equipment, net	0		0
Deferred tax asset, net	0		0
Other assets	208		202
Investment in subsidiaries	0		0
Total assets	209		203
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	0		0
Advance facilities	0		0
Warehouse facilities	0		0
Payables and other liabilities	2		1
MSR related liabilities - nonrecourse at fair value	0		0
Mortgage servicing liabilities	0		0
Other nonrecourse debt, net	0		0
Payables to affiliates	0		0
Total liabilities	2		1
Total stockholders' equity	207		202
Total liabilities and stockholders’ equity	209		203
Non-Guarantor (Subsidiaries of Issuer) \| Reportable entities
Assets
Cash and cash equivalents	29		48
Restricted cash	100		133
Mortgage servicing rights	27		32
Advances and other receivables, net	0		0
Reverse mortgage interests, net	1,107		1,164
Mortgage loans held for sale at fair value	0		0
Mortgage loans held for investment at fair value	112		118
Property and equipment, net	16		12
Deferred tax asset, net	2		(6)
Other assets	661		621
Investment in subsidiaries	0		0
Total assets	2,054		2,122
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	0		0
Advance facilities	478		505
Warehouse facilities	0		0
Payables and other liabilities	56		80
MSR related liabilities - nonrecourse at fair value	16		19
Mortgage servicing liabilities	0		0
Other nonrecourse debt, net	1,095		1,119
Payables to affiliates	4		0
Total liabilities	1,649		1,723
Total stockholders' equity	405		399
Total liabilities and stockholders’ equity	$ 2,054		$ 2,122

XML 122 R105.htm IDEA: XBRL DOCUMENT

Guarantor Financial Statement Information - Consolidating Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Service related, net	$ 137	$ 317	$ 221	$ 781
Net gain on mortgage loans held for sale	262	127	428	251
Total revenues	399	444	649	1,032
Expenses:
Salaries, wages and benefits	238	177	453	357
General and administrative	254	162	482	346
Total expenses	492	339	935	703
Other income (expenses):
Interest income	162	140	296	285
Interest expense	(187)	(164)	(376)	(335)
Other income (expenses)	1	(2)	16	6
Gain (loss) from subsidiaries	0	0	0	0
Total other income (expenses), net	(24)	(26)	(64)	(44)
(Loss) income before income tax (benefit) expense	(117)	79	(350)	285
Less: Income tax benefit	29	(21)	76	(67)
Net (loss) income	(88)	58	(274)	218
Less: Net (loss) income attributable to non-controlling interests	(1)	0	(1)	0
Net (loss) income attributable to Successor/Predecessor	(87)	58	(273)	218
Eliminations
Revenues:
Service related, net	0	0	0	0
Net gain on mortgage loans held for sale	0	0	0	0
Total revenues	0	0	0	0
Expenses:
Salaries, wages and benefits	0	0	0	0
General and administrative	0	0	0	0
Total expenses	0	0	0	0
Other income (expenses):
Interest income	0	0	0	0
Interest expense	0	0	0	0
Other income (expenses)	0	0	0	0
Gain (loss) from subsidiaries	46	(76)	185	(268)
Total other income (expenses), net	46	(76)	185	(268)
(Loss) income before income tax (benefit) expense	46	(76)	185	(268)
Less: Income tax benefit	0	0	0	0
Net (loss) income	46	(76)	185	(268)
Less: Net (loss) income attributable to non-controlling interests	0	0	0	0
Net (loss) income attributable to Successor/Predecessor	46	(76)	185	(268)
Mr. Cooper \| Reportable entities
Revenues:
Service related, net	0	0	0	0
Net gain on mortgage loans held for sale	0	0	0	0
Total revenues	0	0	0	0
Expenses:
Salaries, wages and benefits	0	0	0	0
General and administrative	0	0	0	0
Total expenses	0	0	0	0
Other income (expenses):
Interest income	0	0	0	0
Interest expense	(39)	0	(77)	0
Other income (expenses)	0	0	0	0
Gain (loss) from subsidiaries	(48)	58	(196)	218
Total other income (expenses), net	(87)	58	(273)	218
(Loss) income before income tax (benefit) expense	(87)	58	(273)	218
Less: Income tax benefit	0	0	0	0
Net (loss) income	(87)	58	(273)	218
Less: Net (loss) income attributable to non-controlling interests	0	0	0	0
Net (loss) income attributable to Successor/Predecessor	(87)	58	(273)	218
Issuer \| Reportable entities
Revenues:
Service related, net	21	247	2	637
Net gain on mortgage loans held for sale	262	127	428	251
Total revenues	283	374	430	888
Expenses:
Salaries, wages and benefits	198	149	372	301
General and administrative	179	134	344	290
Total expenses	377	283	716	591
Other income (expenses):
Interest income	147	127	265	258
Interest expense	(134)	(153)	(268)	(315)
Other income (expenses)	1	(3)	5	(4)
Gain (loss) from subsidiaries	2	18	11	50
Total other income (expenses), net	16	(11)	13	(11)
(Loss) income before income tax (benefit) expense	(78)	80	(273)	286
Less: Income tax benefit	29	(22)	76	(68)
Net (loss) income	(49)	58	(197)	218
Less: Net (loss) income attributable to non-controlling interests	(1)	0	(1)	0
Net (loss) income attributable to Successor/Predecessor	(48)	58	(196)	218
Guarantor (Subsidiaries of Issuer) \| Reportable entities
Revenues:
Service related, net	5	7	11	13
Net gain on mortgage loans held for sale	0	0	0	0
Total revenues	5	7	11	13
Expenses:
Salaries, wages and benefits	1	1	2	2
General and administrative	1	0	2	1
Total expenses	2	1	4	3
Other income (expenses):
Interest income	0	0	0	0
Interest expense	0	0	0	0
Other income (expenses)	0	0	0	0
Gain (loss) from subsidiaries	0	0	0	0
Total other income (expenses), net	0	0	0	0
(Loss) income before income tax (benefit) expense	3	6	7	10
Less: Income tax benefit	0	0	0	0
Net (loss) income	3	6	7	10
Less: Net (loss) income attributable to non-controlling interests	0	0	0	0
Net (loss) income attributable to Successor/Predecessor	3	6	7	10
Non-Guarantor (Subsidiaries of Issuer) \| Reportable entities
Revenues:
Service related, net	111	63	208	131
Net gain on mortgage loans held for sale	0	0	0	0
Total revenues	111	63	208	131
Expenses:
Salaries, wages and benefits	39	27	79	54
General and administrative	74	28	136	55
Total expenses	113	55	215	109
Other income (expenses):
Interest income	15	13	31	27
Interest expense	(14)	(11)	(31)	(20)
Other income (expenses)	0	1	11	10
Gain (loss) from subsidiaries	0	0	0	0
Total other income (expenses), net	1	3	11	17
(Loss) income before income tax (benefit) expense	(1)	11	4	39
Less: Income tax benefit	0	1	0	1
Net (loss) income	(1)	12	4	40
Less: Net (loss) income attributable to non-controlling interests	0	0	0	0
Net (loss) income attributable to Successor/Predecessor	$ (1)	$ 12	$ 4	$ 40

XML 123 R106.htm IDEA: XBRL DOCUMENT

Guarantor Financial Statement Information - Consolidating Statements of Cash Flow (Details) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jun. 30, 2019

Jun. 30, 2018

Jun. 30, 2019

Jun. 30, 2018

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

$ (87)

$ 58

$ (273)

$ 218

Net income (loss) attributable to non-controlling interests

(76)

(1)

(262)

(127)

(428)

(251)

(167)

(237)

(9)

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

695

(155)

Fair value changes in mortgage servicing rights financing liability

(74)

Fair value changes in mortgage loan held for investment

(3)

Amortization of premiums, net of discount accretion

(25)

Depreciation and amortization for property and equipment and intangible assets

Repurchases of forward loan assets out of Ginnie Mae securitizations

(715)

(475)

Mortgage loans originated and purchased for sale, net of fees

(15,727)

(10,639)

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

15,429

11,500

249

355

1,056

1,326

(118)

(52)

1,869

(85)

Purchase of forward mortgage servicing rights, net of liabilities incurred

(27)

(31)

(409)

(123)

Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables

(1)

Proceeds on sale of forward and reverse mortgage servicing rights

279

(242)

(142)

1,173

(199)

(40)

(339)

(294)

398

443

Proceeds from issuance of participating interest financing in reverse mortgage interests

(434)

(423)

156

184

Repayment of participating interest financing in reverse mortgage interests

(1,004)

(1,368)

Proceeds from the issuance of excess spread financing

437

(12)

(2)

(107)

(91)

(6)

(2)

(62)

(2)

(6)

(1)

(7)

(1)

Net decrease in cash, cash equivalents, and restricted cash

282

(1,807)

(12)

(80)

Cash, cash equivalents, and restricted cash - beginning of period

561

575

Cash, cash equivalents, and restricted cash - end of period

^[1]

549

495

549

495

Eliminations

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

(76)

185

(268)

Net income (loss) attributable to non-controlling interests

(185)

268

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

Fair value changes in mortgage servicing rights financing liability

Fair value changes in mortgage loan held for investment

Amortization of premiums, net of discount accretion

Depreciation and amortization for property and equipment and intangible assets

Repurchases of forward loan assets out of Ginnie Mae securitizations

Mortgage loans originated and purchased for sale, net of fees

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

Purchase of forward mortgage servicing rights, net of liabilities incurred

Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables

Proceeds on sale of forward and reverse mortgage servicing rights

Proceeds from issuance of participating interest financing in reverse mortgage interests

Repayment of participating interest financing in reverse mortgage interests

Proceeds from the issuance of excess spread financing

Net decrease in cash, cash equivalents, and restricted cash

Cash, cash equivalents, and restricted cash - beginning of period

Cash, cash equivalents, and restricted cash - end of period

Mr. Cooper

Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables

Mr. Cooper | Reportable entities

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

(87)

(273)

218

Net income (loss) attributable to non-controlling interests

196

(218)

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

Fair value changes in mortgage servicing rights financing liability

Fair value changes in mortgage loan held for investment

Amortization of premiums, net of discount accretion

Depreciation and amortization for property and equipment and intangible assets

Repurchases of forward loan assets out of Ginnie Mae securitizations

Mortgage loans originated and purchased for sale, net of fees

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

Purchase of forward mortgage servicing rights, net of liabilities incurred

Proceeds on sale of forward and reverse mortgage servicing rights

Proceeds from issuance of participating interest financing in reverse mortgage interests

Repayment of participating interest financing in reverse mortgage interests

Proceeds from the issuance of excess spread financing

(6)

Net decrease in cash, cash equivalents, and restricted cash

(6)

Cash, cash equivalents, and restricted cash - beginning of period

Cash, cash equivalents, and restricted cash - end of period

Issuer

Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables

(1)

Issuer | Reportable entities

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

(48)

(196)

218

Net income (loss) attributable to non-controlling interests

(76)

(1)

(11)

(50)

(262)

(127)

(428)

(251)

(167)

(237)

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

690

(155)

Fair value changes in mortgage servicing rights financing liability

(71)

Fair value changes in mortgage loan held for investment

Amortization of premiums, net of discount accretion

(28)

Depreciation and amortization for property and equipment and intangible assets

Repurchases of forward loan assets out of Ginnie Mae securitizations

(715)

(475)

Mortgage loans originated and purchased for sale, net of fees

(15,727)

(10,639)

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

15,420

11,490

249

355

1,001

1,314

(65)

(188)

(16)

(56)

1,608

(85)

Purchase of forward mortgage servicing rights, net of liabilities incurred

(20)

(27)

(409)

(117)

Proceeds on sale of forward and reverse mortgage servicing rights

279

(235)

(145)

1,173

(199)

(13)

(57)

(294)

Proceeds from issuance of participating interest financing in reverse mortgage interests

156

184

Repayment of participating interest financing in reverse mortgage interests

(1,004)

(1,368)

Proceeds from the issuance of excess spread financing

437

(12)

(2)

(107)

(91)

(2)

(62)

(2)

(1)

(7)

(1)

Net decrease in cash, cash equivalents, and restricted cash

331

(1,533)

(70)

Cash, cash equivalents, and restricted cash - beginning of period

379

423

Cash, cash equivalents, and restricted cash - end of period

419

353

419

353

Guarantor (Subsidiaries of Issuer)

Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables

Guarantor (Subsidiaries of Issuer) | Reportable entities

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

Net income (loss) attributable to non-controlling interests

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

Fair value changes in mortgage servicing rights financing liability

Fair value changes in mortgage loan held for investment

Amortization of premiums, net of discount accretion

Depreciation and amortization for property and equipment and intangible assets

Repurchases of forward loan assets out of Ginnie Mae securitizations

Mortgage loans originated and purchased for sale, net of fees

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

(8)

(10)

Purchase of forward mortgage servicing rights, net of liabilities incurred

Proceeds on sale of forward and reverse mortgage servicing rights

Proceeds from issuance of participating interest financing in reverse mortgage interests

Repayment of participating interest financing in reverse mortgage interests

Proceeds from the issuance of excess spread financing

Net decrease in cash, cash equivalents, and restricted cash

Cash, cash equivalents, and restricted cash - beginning of period

Cash, cash equivalents, and restricted cash - end of period

Non-Guarantor (Subsidiaries of Issuer)

Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables

Non-Guarantor (Subsidiaries of Issuer) | Reportable entities

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

(1)

Net income (loss) attributable to non-controlling interests

(1)

(9)

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

Fair value changes in mortgage servicing rights financing liability

(3)

Fair value changes in mortgage loan held for investment

(3)

Amortization of premiums, net of discount accretion

(3)

Depreciation and amortization for property and equipment and intangible assets

Repurchases of forward loan assets out of Ginnie Mae securitizations

Mortgage loans originated and purchased for sale, net of fees

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

(45)

202

(28)

(4)

255

Purchase of forward mortgage servicing rights, net of liabilities incurred

(7)

(4)

(6)

Proceeds on sale of forward and reverse mortgage servicing rights

(7)

(27)

(282)

398

443

Proceeds from issuance of participating interest financing in reverse mortgage interests

(434)

(423)

Repayment of participating interest financing in reverse mortgage interests

Proceeds from the issuance of excess spread financing

(6)