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Indebtedness
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Indebtedness
9. Indebtedness

Advance and Warehouse Facilities
September 30, 2022December 31, 2021
Maturity DateCollateralCapacity AmountOutstandingCollateral PledgedOutstandingCollateral Pledged
Advance Facilities
$350 advance facilityOctober 2024Servicing advance receivables$350 $150 $182 $160 $197 
$350 advance facilityJanuary 2023Servicing advance receivables350 130 154 162 190 
$300 advance facility(1)
November 2024Servicing advance receivables300 206 290 234 318 
$75 advance facilityDecember 2022Servicing advance receivables75 46 48 58 89 
Advance facilities principal amount 532 674 614 794 
Warehouse Facilities
$1,500 warehouse facilityFebruary 2023Mortgage loans or MBS1,500 427 531 1,224 1,341 
$1,500 warehouse facilityJune 2023Mortgage loans or MBS1,500 328 341 356 345 
$1,000 warehouse facilityOctober 2023Mortgage loans or MBS1,000 235 244 991 1,024 
$750 warehouse facility(2)
October 2022Mortgage loans or MBS750 258 274 256 270 
$500 warehouse facility(3)
September 2024Mortgage loans or MBS500 144 157 409 425 
$500 warehouse facilityJune 2023Mortgage loans or MBS500 24 30 39 39 
$500 warehouse facilityAugust 2023Mortgage loans or MBS500 12 13 38 39 
$450 warehouse facilityApril 2023Mortgage loans or MBS450 — — 87 89 
$300 warehouse facilityAugust 2023Mortgage loans or MBS300 55 58 419 430 
$250 warehouse facilityApril 2023Mortgage loans or MBS250 — — 5 6 
$200 warehouse facilityJune 2023Mortgage loans or MBS200 5 8 188 194 
$200 warehouse facilityApril 2023Mortgage loans or MBS200 13 17 46 58 
$125 warehouse facilityDecember 2022Mortgage loans or MBS125 3 3 67 67 
$30 warehouse facility(4)
January 2022Mortgage loans or MBS— — — — — 
Warehouse facilities principal amount 1,504 1,676 4,125 4,327 
MSR Facilities
$900 warehouse facility(1)
November 2024MSR900260 2,028 2601,107 
$600 warehouse facilityApril 2023MSR600325911 — 838 
$500 warehouse facility(3)
September 2024MSR5001801,435—745
$400 warehouse facility(5)
June 2024MSR400250705——
$50 warehouse facilityNovember 2023MSR50257510124
MSR facilities principal amount 1,0405,1542702,814
Advance, warehouse and MSR facilities principal amount 3,076 $7,5045,009 $7,935 
Unamortized debt issuance costs(6)(12)
Advance and warehouse facilities, net$3,070$4,997

(1)Total capacity for this facility is $1,200, of which $300 is internally allocated for advance financing and $900 is internally allocated for MSR financing; capacity is fully fungible and is not restricted by these allocations. The capacity was increased in October 2022 to $1,400, with $300 internally allocated for advance financing and $1,100 internally allocated for MSR financing.
(2)This facility was terminated in October 2022.
(3)The capacity amount for this facility is $1,000, of which $500 is a sublimit for MSR financing.
(4)This facility was terminated in January 2022.
(5)The capacity was increased in October 2022 to $500.

The weighted average interest rate for advance facilities was 4.5% and 2.7% for the three months ended September 30, 2022 and 2021, and 3.4% and 2.9% for the nine months ended September 30, 2022 and 2021, respectively. The weighted average interest rate for warehouse and MSR facilities was 4.6% and 1.9% for three months ended September 30, 2022 and 2021, and 3.3% and 2.0% for the nine months ended September 30, 2022 and 2021, respectively.
Unsecured Senior Notes
Unsecured senior notes consist of the following:
Unsecured Senior NotesSeptember 30, 2022December 31, 2021
$850 face value, 5.500% interest rate payable semi-annually, due August 2028
$850 $850 
$650 face value, 5.125% interest rate payable semi-annually, due December 2030
650 650 
$600 face value, 6.000% interest rate payable semi-annually, due January 2027
600 600 
$600 face value, 5.750% interest rate payable semi-annually, due November 2031
600 600 
Unsecured senior notes principal amount2,700 2,700 
Unamortized debt issuance costs(27)(30)
Unsecured senior notes, net $2,673 $2,670 

The indentures provide that on or before certain fixed dates, the Company may redeem up to 40% of the aggregate principal amount of the unsecured senior notes with the net proceeds of certain equity offerings at fixed redemption prices, plus accrued and unpaid interest, to the redemption dates, subject to compliance with certain conditions. In addition, the Company may redeem all or a portion of the unsecured senior notes at any time on or after certain fixed dates at the applicable redemption prices set forth in the indentures plus accrued and unpaid interest, to the redemption dates. No notes were repurchased or redeemed during the nine months ended September 30, 2022 and 2021.

As of September 30, 2022, the expected maturities of the Company’s unsecured senior notes based on contractual maturities are as follows:
Year Ending December 31,Amount
2022 through 2026$— 
Thereafter2,700 
Total unsecured senior notes principal amount$2,700 

Interest Expense
Interest expense primarily includes interest incurred on advance and warehouse facilities, unsecured senior notes, excess spread financing and compensating bank balances, as well as bank fees. The Company incurred interest expense related to advance and warehouse facilities, unsecured senior notes and excess spread financing of $90 and $266 for the three and nine months ended September 30, 2022, respectively, and $95 and $278 for the three and nine months ended September 30, 2021, respectively.

Financial Covenants
The Company’s credit facilities contain various financial covenants which primarily relate to required tangible net worth amounts, liquidity reserves, leverage requirements, and profitability requirements, which are measured at the Company’s operating subsidiary, Nationstar Mortgage LLC. The Company was in compliance with its required financial covenants as of September 30, 2022.