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Business Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
The following tables present financial information by segment.
 
Successor
 
Three Months Ended September 30, 2019
 
Servicing
 
Originations
 
Xome
 
Elimination/ Reclassification(1)
 
Total Operating Segments
 
Corporate/Other
 
Consolidated
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
Service related, net
$
163

 
$
22

 
$
112

 
$
(39
)
 
$
258

 
$
—

 
$
258

Net gain on mortgage loans held for sale
—

 
312

 
—

 
37

 
349

 
11

 
360

Total revenues
163

 
334

 
112

 
(2
)
 
607

 
11

 
618

Total Expenses
171

 
155

 
101

 
(2
)
 
425

 
53

 
478

Other income (expenses)

 

 

 

 
 
 

 

Interest income
137

 
24

 
—

 
—

 
161

 
2

 
163

Interest expense
(120
)
 
(24
)
 
—

 
—

 
(144
)
 
(52
)
 
(196
)
Other
—

 
(1
)
 
3

 
—

 
2

 
(2
)
 
—

Total Other Income (Expenses), Net
17

 
(1
)
 
3

 
—

 
19

 
(52
)
 
(33
)
Income (loss) before income tax expense (benefit)
$
9

 
$
178

 
$
14

 
$
—

 
$
201

 
$
(94
)
 
$
107

Depreciation and amortization for property and equipment and intangible assets
$
5

 
$
4

 
$
4

 
$
—

 
$
13

 
$
9

 
$
22

Total assets
$
12,049

 
$
8,450

 
$
515

 
$
(4,650
)
 
$
16,364

 
$
2,114

 
$
18,478


 
Successor
 
Two Months Ended September 30, 2018
 
Servicing
 
Originations
 
Xome
 
Elimination/ Reclassification(1)
 
Total Operating Segments
 
Corporate/Other
 
Consolidated
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
Service related, net
$
183

 
$
10

 
$
73

 
$
(7
)
 
$
259

 
$
—

 
$
259

Net gain on mortgage loans held for sale
—

 
76

 
—

 
7

 
83

 
—

 
83

Total revenues
183

 
86

 
73

 
—

 
342

 
—

 
342

Total Expenses
104

 
66

 
71

 
—

 
241

 
34

 
275

Other income (expenses)
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
78

 
10

 
—

 
—

 
88

 
2

 
90

Interest expense
(74
)
 
(10
)
 
(1
)
 
—

 
(85
)
 
(37
)
 
(122
)
Other
5

 
1

 
—

 
—

 
6

 
—

 
6

Total Other Income (Expenses), Net
9

 
1

 
(1
)
 
—

 
9

 
(35
)
 
(26
)
Income (loss) before income tax expense (benefit)
$
88

 
$
21

 
$
1

 
$
—

 
$
110

 
$
(69
)
 
$
41

Depreciation and amortization for property and equipment and intangible assets
$
4

 
$
2

 
$
2

 
$
—

 
$
8

 
$
7

 
$
15

Total assets
$
14,166

 
$
4,892

 
$
457

 
$
(3,532
)
 
$
15,983

 
$
1,745

 
$
17,728



 
Predecessor
 
One Month Ended July 31, 2018
 
Servicing
 
Originations
 
Xome
 
Elimination/ Reclassification(1)
 
Total Operating Segments
 
Corporate/Other
 
Consolidated
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
Service related, net
$
97

 
$
4

 
$
22

 
$
(3
)
 
$
120

 
$
—

 
$
120

Net gain on mortgage loans held for sale
—

 
41

 
—

 
3

 
44

 
—

 
44

Total revenues
97

 
45

 
22

 
—

 
164

 
—

 
164

Total Expenses
126

 
34

 
19

 
—

 
179

 
63

 
242

Other income (expenses)
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
41

 
6

 
—

 
—

 
47

 
1

 
48

Interest expense
(35
)
 
(6
)
 
—

 
—

 
(41
)
 
(12
)
 
(53
)
Other
—

 
—

 
—

 
—

 
—

 
—

 
—

Total Other Income (Expenses), Net
6

 
—

 
—

 
—

 
6

 
(11
)
 
(5
)
Income (loss) before income tax expense (benefit)
$
(23
)
 
$
11

 
$
3

 
$
—

 
$
(9
)
 
$
(74
)
 
$
(83
)
Depreciation and amortization for property and equipment and intangible assets
$
2

 
$
1

 
$
1

 
$
—

 
$
4

 
$
—

 
$
4

Total assets
$
14,578

 
$
4,701

 
$
425

 
$
(3,591
)
 
$
16,113

 
$
913

 
$
17,026




 
Successor
 
Nine Months Ended September 30, 2019
 
Servicing
 
Originations
 
Xome
 
Elimination/ Reclassification(1)
 
Total Operating Segments
 
Corporate/Other
 
Consolidated
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
Service related, net
$
198

 
$
57

 
$
316

 
$
(92
)
 
$
479

 
$
—

 
$
479

Net gain on mortgage loans held for sale
—

 
687

 
—

 
90

 
777

 
11

 
788

Total revenues
198

 
744

 
316

 
(2
)
 
1,256

 
11

 
1,267

Total Expenses
555

 
404

 
301

 
(2
)
 
1,258

 
155

 
1,413

Other income (expenses)
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
388

 
64

 
—

 
—

 
452

 
7

 
459

Interest expense
(343
)
 
(67
)
 
—

 
—

 
(410
)
 
(162
)
 
(572
)
Other
—

 
4

 
14

 
—

 
18

 
(2
)
 
16

Total Other Income (Expenses), Net
45

 
1

 
14

 
—

 
60

 
(157
)
 
(97
)
(Loss) income before income tax (benefit) expense
$
(312
)
 
$
341

 
$
29

 
$
—

 
$
58

 
$
(301
)
 
$
(243
)
Depreciation and amortization for property and equipment and intangible assets
$
13

 
$
13

 
$
11

 
$
—

 
$
37

 
$
30

 
$
67

Total assets
$
12,049

 
$
8,450

 
$
515

 
$
(4,650
)
 
$
16,364

 
$
2,114

 
$
18,478


 
Predecessor
 
Seven Months Ended July 31, 2018
 
Servicing
 
Originations
 
Xome
 
Elimination/ Reclassification(1)
 
Total Operating Segments
 
Corporate/Other
 
Consolidated
Revenues
 
 
 
 
 
 
 
 
 
 
 
 
 
Service related, net
$
740

 
$
36

 
$
149

 
$
(25
)
 
$
900

 
$
1

 
$
901

Net gain on mortgage loans held for sale
—

 
270

 
—

 
25

 
295

 
—

 
295

Total revenues
740

 
306

 
149

 
—

 
1,195

 
1

 
1,196

Total Expenses
474

 
245

 
123

 
—

 
842

 
103

 
945

Other income (expenses)
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest income
288

 
38

 
—

 
—

 
326

 
7

 
333

Interest expense
(268
)
 
(37
)
 
—

 
—

 
(305
)
 
(83
)
 
(388
)
Other
(1
)
 
—

 
9

 
—

 
8

 
(2
)
 
6

Total Other Income (Expenses), Net
19

 
1

 
9

 
—

 
29

 
(78
)
 
(49
)
Income (loss) before income tax expense (benefit)
$
285

 
$
62

 
$
35

 
$
—

 
$
382

 
$
(180
)
 
$
202

Depreciation and amortization for property and equipment and intangible assets
$
15

 
$
7

 
$
7

 
$
—

 
$
29

 
$
4

 
$
33

Total assets
$
14,578

 
$
4,701

 
$
425

 
$
(3,591
)
 
$
16,113

 
$
913

 
$
17,026


(1) 
For Servicing segment results purposes, all revenue is attributable to servicing portfolio. Therefore, $37, $7, $3, $90, and $25 of net gain on mortgage loans is moved to service related, net during the three months ended September 30, 2019, two months ended September 30, 2018, one month ended July 31, 2018, nine months ended September 30, 2019, and seven months ended July 31, 2018, respectively. For consolidated results purposes, these amounts were reclassed back to net gain on mortgage loans held for sale.