Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

10. Goodwill and Intangible Assets

Goodwill

Goodwill was $120 as of December 31, 2021 and 2020. During the years ended December 31, 2021 and 2020, the Company performed a quantitative assessment of its three reporting units (Servicing, Originations and Xome) and determined that no impairment of goodwill existed. As of December 31, 2021 and 2020, $80, $28 and $12 of the goodwill is associated with the Servicing, Originations and Xome reporting units, respectively. The goodwill associated with the Xome reporting unit is included in Corporate/Other. Goodwill is recorded in other assets within the consolidated balance sheets.

Intangible Assets

The following tables present the composition of intangible assets:

	December 31, 2021
Intangible Assets	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Life in Years
Customer relationships	$	74	$	(62)	$	12	5.6
Technology(1)	25		(25)		—		2.1
Trade name	7		(5)		2		1.6
Total intangible assets	$	106	$	(92)	$	14	4.9

	December 31, 2020
Intangible Assets	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Life in Years
Customer relationships	$	86	$	(65)	$	21	5.5
Technology	33		(27)		6		1.4
Trade name	8		(4)		4		2.6
Total intangible assets	$	127	$	(96)	$	31	4.4

(1)Technology intangible assets’ net carrying amount as of December 31, 2021 is less than $1.

Intangible assets are recorded in other assets within the consolidated balance sheets.

The Company recognized $12 and $31 of amortization expense related to intangible assets during the years ended December 31, 2021 and 2020.

No impairment on intangible assets was recorded during the year ended December 31, 2021. During the year ended December 31, 2020, in connection with an ancillary business, the Company recorded a $10 impairment of technology intangible assets within Corporate/Other. The impairment charges were included in the general and administrative expenses in the consolidated statements of operations.

The Company expects to record amortization expense for existing amortizable intangible assets of $6 and $4 in the years ending December 31, 2022 and 2023, respectively, and $1 for each of the years ending December 31, 2024 to 2027.

Schedule of Intangible Assets

The following tables present the composition of intangible assets:

	December 31, 2021
Intangible Assets	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Life in Years
Customer relationships	$	74	$	(62)	$	12	5.6
Technology(1)	25		(25)		—		2.1
Trade name	7		(5)		2		1.6
Total intangible assets	$	106	$	(92)	$	14	4.9

	December 31, 2020
Intangible Assets	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Weighted Average Remaining Life in Years
Customer relationships	$	86	$	(65)	$	21	5.5
Technology	33		(27)		6		1.4
Trade name	8		(4)		4		2.6
Total intangible assets	$	127	$	(96)	$	31	4.4