Income Taxes (Tables)

12 Months Ended

Dec. 31, 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
	Year Ended December 31, 2019			Five Months Ended December 31, 2018			Seven Months Ended July 31, 2018			Year Ended December 31, 2017
Current Income Taxes
Federal	$	19		$	—		$	(14	)	$	52
State	74			—			(1		)	7
Total current income taxes	93			—			(15		)	59
Deferred Income Taxes
Federal	(298		)	(1,015		)	54			(43		)
State	(68		)	(6		)	9			(3		)
Total deferred income taxes	(366		)	(1,021		)	63			(46		)
Total provision for income taxes	$	(273	)	$	(1,021	)	$	48		$	13

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the income tax provision computed at the U.S. federal statutory tax rate to the actual effective tax rate:

	Successor										Predecessor
	Year Ended December 31, 2019					Five Months Ended December 31, 2018					Seven Months Ended July 31, 2018					Year Ended December 31, 2017
Tax (Benefit) Expense at Federal Statutory Rate	$	(1	)	21.0	%	$	(29	)	21.0	%	$	42		21.0	%	$	15		35.0	%
Effect of:
State taxes, net of federal benefit	5			(141.2	)%	(6		)	4.2	%	8			3.8	%	1			1.9	%
Non-controlling interests	1			(21.1	)%	—			—	%	—			—	%	—			(0.3	)%
Change in valuation allowance	(285		)	8066.4	%	(990		)	720.0	%	—			—	%	(1		)	(1.2	)%
Deferred adjustments	2			(64.1	)%	3			(1.8	)%	(1		)	(0.5	)%	—			—	%
Nondeductible items	4			(136.5	)%	1			(1.0	)%	7			3.3	%	1			3.2	%
Federal tax reform impact	—			—	%	—			—	%	—			—	%	(5		)	(12.6	)%
Current payable adjustments	—			—	%	—			—	%	(1		)	(0.5	)%	—			—	%
Adjustments related to uncertain tax positions	—			—	%	—			—	%	—			—	%	1			2.4	%
Other, net	1			(5.7	)%	—			—	%	(7		)	(3.3	)%	1			0.5	%
Total income tax (benefit) expense	$	(273	)	7718.8	%	$	(1,021	)	742.4	%	$	48		23.8	%	$	13		28.9	%

Schedule of Deferred Tax Assets and Liabilities

Temporary differences and carryforwards that give rise to deferred tax assets and liabilities are comprised of the following:

	Successor
	December 31, 2019			December 31, 2018
Deferred Tax Assets
Effect of:
Loss carryforwards (federal, state & capital)	$	998		$	1,334
Goodwill and intangible assets	364			4
Loss reserves	108			69
Reverse mortgage interests	44			70
Lease liability	32			1
Accruals	16			14
Restricted share-based compensation	3			1
Partnership interests	1			7
Excess interest expense	—			10
Other, net	12			5
Total deferred tax assets	1,578			1,515
Deferred Tax Liabilities
MSR amortization and mark-to-market, net	(181		)	(243		)
Right-of-use assets	(29		)	—
Depreciation and amortization, net	(12		)	(12		)
Prepaid assets	(2		)	(1		)
Total deferred tax liabilities	(224		)	(256		)
Valuation allowance	(9		)	(295		)
Net deferred tax assets	$	1,345		$	964

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a tabular reconciliation of the beginning and ending balances of the total amounts of unrecognized tax benefits, excluding interest and penalties, for the Predecessor:

	Predecessor
Unrecognized Tax Benefits	Seven Months Ended July 31, 2018			Year Ended December 31, 2017
Balance - beginning of period	$	17		$	—
Increases in tax positions of current year	—			1
(Decreases)/Increases in tax positions of prior years	(17		)	20
Settlements	—			(4		)
Balance - end of period	$	—		$	17