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Reverse Mortgage Interests, Net (Tables)
 9 Months Ended
Sep. 30, 2020
Reverse Mortgage Interests [Abstract]  
Schedule of reverse mortgage interest
Reverse mortgage interests, net, consists of the following:
Reverse Mortgage Interests, NetSeptember 30, 2020December 31, 2019
Participating interests in HECM mortgage-backed securities (“HMBS”)$3,663 $4,282 
Other interests securitized1,002 994 
Unsecuritized interests920 1,117 
Purchase discount, net(125)(114)
Total reverse mortgage interests, net$5,460 $6,279 
Unsecuritized interests in reverse mortgages consist of the following:
Unsecuritized interestsSeptember 30, 2020December 31, 2019
Repurchased HECM loans (exceeds 98% of their Max Claim Amount (“MCA”))$634 $789 
HECM related receivables(1)
213 250 
Funded borrower draws not yet securitized56 64 
Real estate owned (“REO”) related receivables17 14 
Total unsecuritized interests
$920 $1,117 

(1)HECM related receivables consist primarily of receivables from FNMA for corporate advances and service fees and claims receivables from the U.S. Department of Housing and Urban Development (“HUD”) on reverse mortgage interests.
The following table sets forth the activities of the purchase discounts, net, for reverse mortgage interests:
Three Months Ended September 30,Nine Months Ended September 30,
Purchase discount, net, for reverse mortgage interests(1)
2020201920202019
Balance - beginning of period$(127)$(163)$(114)$(164)
Adjustments(2)
— — — (24)
Utilization of purchase discounts(3)
8 40 27 80 
Amortization, net of accretion(6)(1)(38)(16)
Balance - end of period$(125)$(124)$(125)$(124)

(1)Net position as certain items are in a premium/(discount) position, based on the characteristics of underlying tranches of loans.
(2)Adjustments during the nine months ended September 30, 2019 due to revised cost to service assumption utilized in the valuation of reverse mortgage assets and liabilities acquired from the Merger.
(3)Utilization of purchase discounts on liquidated loans, for which the remaining receivable was written off.