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Segment Information
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Segment Information
16. 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 third quarter of 2021, the Company updated its presentation of segments to align with a change in the reporting package provided to the Chief Operating Decision Maker. In 2021, the Company sold the Xome Title business and Valuations business and entered into a definitive agreement to sell the Xome Field Services business. See Note 1, Nature of Business and Basis of Presentation for further details. The Title, Valuations and Field Services businesses were previously reported under the Xome segment. With the sale of majority of Xome’s operations and the related changes to business structure and internal reporting, the Xome segment will no longer be considered a reportable segment. Accordingly, beginning in the third quarter of 2021, the Company began reporting Xome’s financial results within Corporate/Other. Prior year financial information has been adjusted retrospectively to reflect the updated presentation.

On July 1, 2021, the Company entered into a definitive agreement for the sale of its reverse servicing portfolio, operating under the Champion Mortgage brand, to Mortgage Assets Management, LLC and its affiliates. The reverse servicing operation was previously reported in the Company’s Servicing segment. The reverse servicing operation is presented as discontinued operations in Company’s condensed consolidated financial statements for all periods presented and as such is not included in the continuing operations of the Servicing segment. Refer to Note 2, Discontinued Operations for further details. As of September 30, 2021 and December 31, 2020, total assets of discontinued operations was $3,722 and $5,347, respectively.

In June and August 2021, the Company closed the sale of Xome Title and Valuations businesses, respectively. The Xome Title and Valuations businesses were reported within Corporate/Other. The Company recorded a $487 and $7 gain in the second and third quarter of 2021 upon closing of the Title Transaction and Valuations Transaction, respectively. The gain was included in other income, net in the condensed statements of operations and reported under Corporate/Other.

The following tables present financial information by segment:
 Three Months Ended September 30, 2021
Financial Information by SegmentServicingOriginationsCorporate/OtherConsolidated
Revenues
Service related, net$209 $44 $35 $288 
Net gain on mortgage loans held for sale142 430 — 572 
Total revenues351 474 35 860 
Total expenses128 208 66 402 
Interest income39 27 — 66 
Interest expense(65)(22)(31)(118)
Other income, net— — 8 8 
Total other (expenses) income, net(26)5 (23)(44)
Income (loss) from continuing operations before income tax expense (benefit)$197 $271 $(54)$414 
Depreciation and amortization for property and equipment and intangible assets from continuing operations$11 $8 $(5)$14 
Total assets $14,560 $4,949 $2,152 $21,661 
Three Months Ended September 30, 2020
Financial Information by SegmentServicingOriginationsCorporate/OtherConsolidated
Revenues
Service related, net$83 $27 $108 $218 
Net gain on mortgage loans held for sale40 605 — 645 
Total revenues123 632 108 863 
Total expenses123 195 137 455 
Interest income1 16 — 17 
Interest expense(68)(15)(45)(128)
Other (expense), net— — (51)(51)
Total other (expenses) income, net(67)1 (96)(162)
(Loss) income from continuing operations before income tax (benefit) expense$(67)$438 $(125)$246 
Depreciation and amortization for property and equipment and intangible assets from continuing operations$6 $5 $8 $19 
Total assets $14,707 $4,250 $2,798 $21,755 

Nine Months Ended September 30, 2021
Financial Information by SegmentServicingOriginationsCorporate/OtherConsolidated
Revenues
Service related, net$558 $132 $170 $860 
Net gain on mortgage loans held for sale466 1,367 — 1,833 
Total revenues1,024 1,499 170 2,693 
Total expenses359 665 257 1,281 
Interest income87 76 — 163 
Interest expense(201)(70)(92)(363)
Other income, net— — 494 494 
Total other (expenses) income, net(114)6 402 294 
Income from continuing operations before income tax expense$551 $840 $315 $1,706 
Depreciation and amortization for property and equipment and intangible assets from continuing operations$23 $18 $4 $45 
Total assets $14,560 $4,949 $2,152 $21,661 

Nine Months Ended September 30, 2020
Financial Information by SegmentServicingOriginationsCorporate/OtherConsolidated
Revenues
Service related, net$(237)$68 $320 $151 
Net gain on mortgage loans held for sale119 1,475 — 1,594 
Total revenues(118)1,543 320 1,745 
Total expenses354 528 395 1,277 
Interest income44 69 1 114 
Interest expense(195)(55)(144)(394)
Other (expense), net— — (50)(50)
Total other (expenses) income, net(151)14 (193)(330)
(Loss) income from continuing operations before income tax (benefit) expenses$(623)$1,029 $(268)$138 
Depreciation and amortization for property and equipment and intangible assets from continuing operations$14 $12 $29 $55 
Total assets $14,707 $4,250 $2,798 $21,755