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Segment Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Segment Information
20. Segment Information

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, 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:
Successor
Year Ended December 31, 2020
Financial Information by SegmentServicingOriginationsXomeCorporate/ OtherConsolidated
Revenues
Service related, net$(115)$105 $433 $— $423 
Net gain on mortgage loans held for sale222 2,088 — — 2,310 
Total revenues107 2,193 433 — 2,733 
Total expenses539 746 389 157 1,831 
Other income (expenses), net:
Interest income237 95 — 2 334 
Interest expense(442)(78)— (182)(702)
Other income (expenses), net— — 4 (139)(135)
Total other income (expenses), net(205)17 4 (319)(503)
(Loss) income before income tax (benefit) expense$(637)$1,464 $48 $(476)$399 
Depreciation and amortization for property and equipment and intangible assets$20 $18 $15 $21 $74 
Total assets $16,173 $5,447 $128 $2,417 $24,165 

Successor
Year Ended December 31, 2019
Financial Information by SegmentServicingOriginationsXomeCorporate/ OtherConsolidated
Revenues
Service related, net$408 $80 $422 $(1)$909 
Net gain on mortgage loans held for sale124 963 — 11 1,098 
Total revenues532 1,043 422 10 2,007 
Total expenses690 568 398 195 1,851 
Other income (expenses), net:
Interest income500 98 — 7 605 
Interest expense(469)(98)— (212)(779)
Other income (expenses), net4 4 14 (7)15 
Total other income (expenses), net35 4 14 (212)(159)
(Loss) income before income tax (benefit) expense$(123)$479 $38 $(397)$(3)
Depreciation and amortization for property and equipment and intangible assets$19 $18 $14 $40 $91 
Total assets$11,743 $4,313 $139 $2,110 $18,305 
Successor
Five Months Ended December 31, 2018
Financial Information by SegmentServicingOriginationsXomeCorporate/ OtherConsolidated
Revenues
Service related, net$217 $24 $177 $— $418 
Net gain on mortgage loans held for sale19 157 — — 176 
Total revenues236 181 177 — 594 
Total expenses303 155 178 71 707 
Other income (expenses), net:
Interest income222 27 — 7 256 
Interest expense(173)(26)(1)(93)(293)
Other income, net6 5 1 1 13 
Total other income (expenses), net55 6 — (85)(24)
(Loss) income before income tax (benefit) expense$(12)$32 $(1)$(156)$(137)
Depreciation and amortization for property and equipment and intangible assets$9 $5 $5 $20 $39 
Total assets $13,460 $1,498 $167 $1,848 $16,973 
Predecessor
Seven Months Ended July 31, 2018
Financial Information by SegmentServicingOriginationsXome
Elimination/ Reclassification(1)
Total Operating
Segments		Corporate/ OtherConsolidated
Revenues
Service related, net$740 $36 $149 $(25)$900 $1 $901 
Net gain on mortgage loans held for sale— 270 — 25 295 — 295 
Total revenues740 306 149 — 1,195 1 1,196 
Total expenses474 245 123 — 842 103 945 
Other income (expenses), net:
Interest income288 38 — — 326 7 333 
Interest expense(268)(37)— — (305)(83)(388)
Other (expenses) income, net(1)— 9 — 8 (2)6 
Total other income (expenses), net19 1 9 — 29 (78)(49)
Income (loss) before income tax expense (benefit)$285 $62 $35 $— $382 $(180)$202 
Depreciation and amortization for property and equipment and intangible assets$15 $7 $7 $— $29 $4 $33 
Total assets $14,578 $4,701 $425 $(3,591)$16,113 $913 $17,026 

(1)For the Predecessor’s Servicing segment results purposes, all revenue is attributable to servicing the portfolio. Therefore, $25 of net gain on mortgage loans was moved to revenues - service related, net during the seven months ended July 31, 2018. For consolidated results purposes, these amounts were reclassed to net gain on mortgage loans held for sale.