Reverse Mortgage Interests (Tables)

3 Months Ended

Mar. 31, 2021

Reverse Mortgage Interests [Abstract]

Schedule of reverse mortgage interest

Reverse mortgage interests, net, consists of the following:

Reverse Mortgage Interests, Net	March 31, 2021		December 31, 2020
Participating interests in HECM mortgage-backed securities (“HMBS”)	$	3,304	$	3,471
Unsecuritized interests	972		964
Other interests securitized	908		945
Purchase discount, net	(93)		(127)
Total reverse mortgage interests, net	$	5,091	$	5,253

Unsecuritized interests in reverse mortgages consist of the following:

Unsecuritized Interests	March 31, 2021		December 31, 2020
Repurchased HECM loans (exceeds 98% of their Max Claim Amount (“MCA”))	$	699	$	665
HECM related receivables(1)	180		208
Funded borrower draws not yet securitized	77		72
Real estate owned (“REO”) related receivables	16		19
Total unsecuritized interests	$	972	$	964

(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 March 31,
Purchase Discount, Net, for Reverse Mortgage Interests(1)	2021		2020
Balance - beginning of period	$	(127)	$	(114)
Utilization of purchase discounts(2)	35		10
Amortization, net of accretion	(1)		(25)
Balance - end of period	$	(93)	$	(129)

(1)Net position as certain items are in a premium/(discount) position, based on the characteristics of underlying tranches of loans.

(2)Utilization of purchase discounts on liquidated loans, for which the remaining receivable was written off.