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Business Segment Reporting
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Business segment reporting
16. Business Segment Reporting

The Company’s segments are based upon the Company’s organizational structure, which focuses primarily on the services offered. Corporate functional expenses are allocated to individual segments based on the actual cost of services performed based on direct resource utilization, estimate of percentage use for shared services or headcount percentage for certain functions. Facility costs are allocated to individual segments based on cost per headcount for specific facilities utilized. Group insurance costs are allocated to individual segments based on global cost per headcount. Non-allocated corporate expenses include the administrative costs of executive management and other corporate functions that are not directly attributable to Company’s operating segments. Revenues generated on inter-segment services performed are valued based on similar services provided to external parties.
In the second quarter of 2020, the Company updated its presentation of segment assets to be aligned with a change in the reporting package provided to the Chief Operating Decision Maker. The presentation change had no impact on the segments' operations. Assets allocated to the Servicing segment include MSRs; advances and other receivables, except for co-issue MSR holdback; Servicing related mortgage loans held for sale; and other assets including property, plant and equipment, lease-related assets, prepaid assets, and goodwill. Assets allocated to Originations segment include co-issue MSR holdback in advances and other receivables; Originations related mortgage loans held for sale; derivative assets; and other assets including property, plant and equipment, lease-related assets, prepaid assets, and goodwill. Assets allocated to the Xome segment include cash and cash equivalents; tax-related assets; receivables; and other assets including property, plant and equipment, lease-related assets, prepaid assets, goodwill, and other intangible assets. All assets that are not specifically identified or allocated to a reporting segment are reported as part of Corporate/Other and include cash and cash equivalents; tax-related assets; and intangibles assets excluding goodwill and assets allocated to Xome. Eliminations are also included in Corporate/Other. Prior year financial information has been adjusted retrospectively to reflect the updated presentation.

The following tables present financial information by segment:
 Three Months Ended September 30, 2020
Financial information by segmentServicingOriginationsXomeCorporate/OtherConsolidated
Revenues
Service related, net(1)
$92 $27 $108 $— $227 
Net gain on mortgage loans held for sale40 605 — — 645 
Total revenues132 632 108 — 872 
Total expenses99 195 94 43 431 
Interest income40 16 — — 56 
Interest expense(105)(15)— (45)(165)
Other income (expenses), net— — 1 (52)(51)
Total other (expenses) income, net(65)1 1 (97)(160)
(Loss) income before income tax (benefit) expense$(32)$438 $15 $(140)$281 
Depreciation and amortization for property and equipment and intangible assets$6 $5 $5 $3 $19 
Total assets $14,707 $4,250 $135 $2,663 $21,755 

Three Months Ended September 30, 2019
Financial information by segmentServicingOriginationsXomeCorporate/OtherConsolidated
Revenues
Service related, net(1)
$126 $22 $112 $(2)$258 
Net gain on mortgage loans held for sale37 312 — 11 360 
Total revenues163 334 112 9 618 
Total expenses171 155 101 51 478 
Interest income137 24 — 2 163 
Interest expense(120)(24)— (52)(196)
Other (expense) income, net— (1)3 (2)— 
Total other income (expenses), net17 (1)3 (52)(33)
Income (loss) before income tax expense (benefit)$9 $178 $14 $(94)$107 
Depreciation and amortization for property and equipment and intangible assets$5 $4 $4 $9 $22 
Total assets $12,065 $4,386 $172 $1,855 $18,478 
Nine Months Ended September 30, 2020
Financial information by segmentServicingOriginationsXomeCorporate/OtherConsolidated
Revenues
Service related, net(1)
$(202)$68 $320 $— $186 
Net gain on mortgage loans held for sale119 1,475 — — 1,594 
Total revenues(83)1,543 320 — 1,780 
Total expenses370 528 285 111 1,294 
Interest income180 69 — 1 250 
Interest expense(335)(55)— (144)(534)
Other income (expense), net— — 3 (53)(50)
Total other (expenses) income, net(155)14 3 (196)(334)
(Loss) income before income tax (benefit) expense$(608)$1,029 $38 $(307)$152 
Depreciation and amortization for property and equipment and intangible assets$14 $12 $11 $19 $56 
Total assets $14,707 $4,250 $135 $2,663 $21,755 

Nine Months Ended September 30, 2019
Financial information by segmentServicingOriginationsXomeCorporate/OtherConsolidated
Revenues
Service related, net(1)
$108 $57 $316 $(2)$479 
Net gain on mortgage loans held for sale90 687 — 11 788 
Total revenues198 744 316 9 1,267 
Total expenses555 404 301 153 1,413 
Interest income388 64 — 7 459 
Interest expense(343)(67)— (162)(572)
Other income (expense), net— 4 14 (2)16 
Total other income (expenses), net45 1 14 (157)(97)
(Loss) income before income tax (benefit) expense$(312)$341 $29 $(301)$(243)
Depreciation and amortization for property and equipment and intangible assets$13 $13 $11 $30 $67 
Total assets $12,065 $4,386 $172 $1,855 $18,478 

(1)Service related, net revenues for Corporate/Other include intersegment eliminations.