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Segment Information
 6 Months Ended
Jun. 30, 2022
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 its Title business, Valuations business and Field Services business. The Title, Valuations and Field Services businesses were previously reported under the Xome segment. With the sale of the majority of Xome’s operations and the related changes to business structure and internal reporting, the Xome segment is no longer 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 December 1, 2021, the Company completed the sale of its reverse servicing portfolio, operating under the Champion Mortgage brand, to MAM 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 financial statements for all periods presented and, as such, is not included in the continuing operations of the Servicing segment.

On March 31, 2022, the Company completed the sale of its Mortgage Servicing Platform to Sagent and recorded a gain of $223, which was included in other income, net within the condensed statements of operations and reported under Corporate/Other. Refer to Note 2, Dispositions for further details.

The following tables present financial information by segment:
 Three Months Ended June 30, 2022
Financial Information by SegmentServicingOriginationsCorporate/OtherConsolidated
Revenues
Service related, net$414 $24 $22 $460 
Net (loss) gain on mortgage loans held for sale(19)158 — 139 
Total revenues395 182 22 599 
Total expenses143 126 59 328 
Interest income35 15 — 50 
Interest expense(61)(10)(40)(111)
Other expense, net— — (5)(5)
Total other (expenses) income, net(26)5 (45)(66)
Income (loss) from continuing operations before income tax expense (benefit)$226 $61 $(82)$205 
Depreciation and amortization for property and equipment and intangible assets from continuing operations$5 $5 $(1)$9 
Total assets $9,645 $1,381 $1,869 $12,895 

Three Months Ended June 30, 2021
Financial Information by SegmentServicingOriginationsCorporate/OtherConsolidated
Revenues
Service related, net$(92)$45 $39 $(8)
Net gain on mortgage loans held for sale197 385 — 582 
Total revenues105 430 39 574 
Total expenses121 226 78 425 
Interest income25 26 — 51 
Interest expense(65)(23)(31)(119)
Other income, net— — 486 486 
Total other (expenses) income, net(40)3 455 418 
(Loss) income from continuing operations before income tax (benefit) expense$(56)$207 $416 $567 
Depreciation and amortization for property and equipment and intangible assets from continuing operations$7 $6 $3 $16 
Total assets $15,973 $4,582 $2,753 $23,308 
Six Months Ended June 30, 2022
Financial Information by SegmentServicingOriginationsCorporate/OtherConsolidated
Revenues
Service related, net$1,115 $66 $34 $1,215 
Net (loss) gain on mortgage loans held for sale(4)440 — 436 
Total revenues1,111 506 34 1,651 
Total expenses266 300 100 666 
Interest income54 32 — 86 
Interest expense(115)(22)(80)(217)
Other income, net— — 217 217 
Total other (expenses) income, net(61)10 137 86 
Income from continuing operations before income tax expense$784 $216 $71 $1,071 
Depreciation and amortization for property and equipment and intangible assets from continuing operations$10 $9 $1 $20 
Total assets $9,645 $1,381 $1,869 $12,895 

Six Months Ended June 30, 2021
Financial Information by SegmentServicingOriginationsCorporate/OtherConsolidated
Revenues
Service related, net$349 $88 $135 $572 
Net gain on mortgage loans held for sale324 937 — 1,261 
Total revenues673 1,025 135 1,833 
Total expenses231 457 191 879 
Interest income48 49 — 97 
Interest expense(136)(48)(61)(245)
Other income, net— — 486 486 
Total other (expenses) income, net(88)1 425 338 
Income from continuing operations before income tax expense$354 $569 $369 $1,292 
Depreciation and amortization for property and equipment and intangible assets from continuing operations$12 $10 $9 $31 
Total assets $15,973 $4,582 $2,753 $23,308