Indebtedness (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Notes Payable

						Successor
						December 31, 2019				December 31, 2018
Advance Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding		Collateral Pledged		Outstanding		Collateral pledged
$325 advance facility	LIBOR+1.5% to 6.5%	August 2021	Servicing advance receivables	$	325	$	224	$	285	$	209	$	284
$250 advance facility	LIBOR+1.5% to 2.6%	December 2020	Servicing advance receivables	250		98		167		218		255
$200 advance facility	LIBOR+2.5%	January 2021	Servicing advance receivables	200		63		125		90		149
$125 advance facility	CP +1.5% to 7.4%	July 2020	Servicing advance receivables	125		37		88		78		89
Advance facilities principal amount						422		$	665	595		$	777
Unamortized debt issuance costs						—				—
Advance facilities, net						$	422			$	595

						Successor
						December 31, 2019					December 31, 2018
Warehouse Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding			Collateral Pledged		Outstanding			Collateral pledged
$1,500 warehouse facility	LIBOR+1.0%	June 2020	Mortgage loans or MBS	$	1,500	$	759		$	733	$	—		$	—
$1,200 warehouse facility	LIBOR+1.5% to 3.0%	November 2020	Mortgage loans or MBS	1,200		683			724		560			622
$1,000 warehouse facility	LIBOR+1.4% to 2.3%	September 2020	Mortgage loans or MBS	1,000		762			783		137			140
$800 warehouse facility(1)	LIBOR+1.5% to 2.9%	April 2020	Mortgage loans or MBS	800		589			656		464			514
$750 warehouse facility	LIBOR+1.4% to 2.8%	September 2020	Mortgage loans or MBS	750		411			425		119			122
$700 warehouse facility	LIBOR+1.3% to 2.2%	November 2020	Mortgage loans or MBS	700		469			488		220			248
$600 warehouse facility	LIBOR+2.3%	February 2021	Mortgage loans or MBS	600		174			202		151			168
$500 warehouse facility	LIBOR+1.5% to 3.0%	April 2020	Mortgage loans or MBS	500		336			349		187			200
$500 warehouse facility(2)	LIBOR+2.0% to 2.3%	September 2020	Mortgage loans or MBS	500		—			—		290			299
$200 warehouse facility	LIBOR+1.4%	January 2021	Mortgage loans or MBS	200		136			136		—			—
$200 warehouse facility	LIBOR+1.2%	April 2021	Mortgage loans or MBS	200		27			27		18			19
$200 warehouse facility	LIBOR+2.0%	May 2020	Mortgage loans or MBS	200		54			78		103			132
$200 warehouse facility	LIBOR+1.3%	October 2020	Mortgage loans or MBS	200		—			—		—			—
$50 warehouse facility	LIBOR+2.0% to 6.0%	April 2020	Mortgage loans or MBS	50		11			15		—			—
$40 warehouse facility	LIBOR+3.3%	September 2020	Mortgage loans or MBS	40		5			6		—			—
$40 warehouse facility(2)	LIBOR+3.0%	November 2019	Mortgage loans or MBS	40		—			—		1			2
Warehouse facilities principal amount						4,416			4,622		2,250			2,466
MSR Facilities
$400 warehouse facility	LIBOR+3.5% to 6.1%	June 2021	Mortgage loans or MBS	400		150			945		100			928
$400 warehouse facility	LIBOR+2.3%	December 2020	Mortgage loans or MBS	400		—			200		—			226
$150 warehouse facility(1)	LIBOR+2.8%	April 2020	Mortgage loans or MBS	150		—			130		—			430
$50 warehouse facility	LIBOR+4.5%	August 2020	Mortgage loans or MBS	50		10			84		—			102
MSR facilities principal amount						160			1,359		100			1,686
Warehouse and MSR facilities principal amount						4,576			$	5,981	2,350			$	4,152
Unamortized debt issuance costs						(1		)			(1		)
Warehouse facilities, net						$	4,575				$	2,349
Pledged Collateral:
Mortgage loans held for sale and mortgage loans held for investment						$	3,826		$	3,931	$	1,528		$	1,628
Reverse mortgage interests						590			691		722			838
MSR						160			1,359		100			1,686

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

⁽²⁾  This facility was terminated during 2019.

Schedule of Unsecured Senior Notes

Unsecured senior notes consist of the following:

	Successor
	December 31, 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(1)	492			592
$300 face value, 6.500% interest rate payable semi-annually, due June 2022(1)	206			206
Unsecured senior notes principal amount	2,398			2,498
Unamortized debt issuance costs, premium and discount	(32		)	(39		)
Unsecured senior notes, net	$	2,366		$	2,459

⁽¹⁾  This note was subsequently redeemed in full in February 2020. See Note 26, Subsequent Events,for further information.

Schedule of Maturities of Long-term Debt

As of December 31, 2019, the expected maturities of the Company’s unsecured senior notes based on contractual maturities are as follows:

Year Ending December 31,	Amount
2020	$	—
2021(1)	492
2022(1)	206
2023	950
2024	—
Thereafter	750
Total unsecured senior notes principal amount	$	2,398

⁽¹⁾  This note was subsequently redeemed in full in February 2020. See Note 26, Subsequent Events,for further information.

Schedule of Other Nonrecourse Debt

Other nonrecourse debt consists of the following:

						Successor
						December 31, 2019		December 31, 2018
	Issue Date	Maturity Date	Class of Note	Collateral Amount		Outstanding		Outstanding
Participating interest financing(1)	—	—	—	$	—	$	4,284	$	5,607
Securitization of nonperforming HECM loans
Trust 2019-2	November 2019	November 2029	A, M1, M2, M3, M4, M5	337		333		—
Trust 2019-1	June 2019	June 2029	A, M1, M2, M3, M4, M5	315		302		—
Trust 2018-3	November 2018	November 2028	A, M1, M2, M3, M4, M5	226		209		326
Trust 2018-2	August 2018	August 2028	A, M1, M2, M3, M4, M5	168		148		250
Trust 2018-1(2)	March 2018	March 2028	A, M1, M2, M3, M4, M5	—		—		284
Trust 2017-2(2)	September 2017	September 2027	A, M1, M2	—		—		231
Nonrecourse Debt - Legacy(3)	November 2009	October 2039	A	—		—		29
Other nonrecourse debt principal amount						5,276		6,727
Unamortized debt issuance costs, premium and discount						10		68
Other nonrecourse debt, net						$	5,286	$	6,795

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

⁽²⁾  As discussed in Note 6, Reverse Mortgage Interests, Net, Trust 2017-2 and Trust 2018-1 were collapsed and the related debt extinguished during the year ended December 31, 2019.

⁽³⁾  As discussed in Note 7, Mortgage Loans Held for Sale and Investment, Trust 2009-A, the Company’s legacy portfolio, was collapsed and the related debt was extinguished in September 2019.