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Reverse Mortgage Interests, Net (Tables)
 9 Months Ended
Sep. 30, 2019
Reverse Mortgage Interests [Abstract]  
Schedule of Reverse Mortgage Interest
Reverse mortgage interests, net consists of the following:
 
Successor
 
September 30, 2019
 
December 31, 2018
Participating interests in HECM mortgage-backed securities (“HMBS”), including $14 and $58 purchase premium, respectively
$
4,592

 
$
5,664

Other interests securitized, net of $63 and $100 purchase discount, respectively
879

 
1,064

Unsecuritized interests, net of $75 and $122 purchase discount, respectively
1,204

 
1,219

Reserves
(13
)
 
(13
)
Total reverse mortgage interests, net
$
6,662

 
$
7,934

The following table sets forth the activities of the servicing reserves for reverse mortgage interests.
 
Successor
 
 
Predecessor
Reserves for reverse mortgage interests
Three Months Ended September 30, 2019
 
Nine Months Ended September 30, 2019
 
Two Months Ended September 30, 2018
 
 
One Month Ended July 31, 2018
 
Seven Months Ended July 31, 2018
Balance - beginning of period
$
8

 
$
13

 
$
—

 
 
$
117

 
$
115

Provision (release), net
5

 
7

 
1

 
 
12

 
32

Write-offs
—

 
(7
)
 
—

 
 
—

 
(18
)
Balance - end of period
$
13

 
$
13

 
$
1

 
 
$
129

 
$
129

Unsecuritized interests in reverse mortgages consist of the following:
 
Successor
 
September 30, 2019
 
December 31, 2018
Repurchased HECM loans (exceeds 98% MCA)
$
874

 
$
949

HECM related receivables(1)
289

 
300

Funded borrower draws not yet securitized
92

 
76

REO-related receivables
24

 
16

Purchase discount, net
(75
)
 
(122
)
Total unsecuritized interests
$
1,204

 
$
1,219



(1) 
HECM related receivables consist primarily of FNMA receivables for corporate advances and service fees and claims receivables from the U.S. Department of Housing and Urban Development (“HUD”).
The following table sets forth the activities of the purchase premiums and discounts for reverse mortgage interests.
 
Successor
 
Three Months Ended September 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
$
18

 
$
(84
)
 
$
(97
)
Utilization of purchase discounts(2)
—

 
11

 
29

(Amortization)/Accretion
(4
)
 
9

 
(6
)
Transfers(3)
—

 
1

 
(1
)
Balance - end of period
$
14

 
$
(63
)
 
$
(75
)

 
Successor
 
Nine Months Ended September 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(4)
(16
)
 
(2
)
 
(6
)
Utilization of purchase discounts(2)
—

 
24

 
56

(Amortization)/Accretion
(41
)
 
22

 
3

Transfers(3)
13

 
(7
)
 
(6
)
Balance - end of period
$
14

 
$
(63
)
 
$
(75
)

 
Successor
 
Two Months Ended September 30, 2018
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

 
$
(117
)
 
$
(161
)
(Amortization)/Accretion
(3
)
 
—

 
10

Balance - end of period
$
55

 
$
(117
)
 
$
(151
)

(1) 
Net position as certain items are in a premium/(discount) position, based on the characteristics of underlying tranches of loans.
(2) 
Utilization of purchase discounts to mitigate loss on liquidated loans, for which the remaining receivable was written-off.
(3) 
Transfer of premium/(discount) based on the transfer of associated loans between categories consistent with the underlying loan characteristics.
(4) 
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.

In connection with previous reverse mortgage portfolio acquisitions, the Predecessor recorded a purchase discount within Unsecuritized Interests. The following table sets forth the activities of the purchase discount for reverse mortgage interests.
 
Predecessor
Purchase discount for reverse mortgage interests
One Month Ended July 31, 2018
 
Seven Months Ended July 31, 2018
Balance - beginning of period
$
(84
)
 
$
(89
)
Additions
—

 
(7
)
Accretion
2

 
14

Balance - end of period
$
(82
)
 
$
(82
)