Acquisitions (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of assets acquired and liabilities assumed


Final Estimated Fair Value of Net Assets Acquired:
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⁽¹⁾	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⁽²⁾	13
Goodwill	40
Final purchase price	$	116

⁽¹⁾Notes payable was subsequently paid off in February 2019 after the consummation of the acquisition.

⁽²⁾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.

Schedule of 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, 2019:


	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Pro forma financial information	(unaudited)		(unaudited)
Pro forma total revenues	$	399	$	668

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