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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents $ 534 $ 527
Restricted cash 133 175
Mortgage servicing rights at fair value 6,566 6,654
Advances and other receivables, net of reserves of $148 and $137, respectively 933 1,019
Mortgage loans held for sale at fair value 937 893
Property and equipment, net of accumulated depreciation of $122 and $122, respectively 64 65
Deferred tax assets, net 707 703
Other assets 2,783 2,740
Total assets 12,657 12,776
Liabilities and Stockholders’ Equity    
Unsecured senior notes, net 2,675 2,673
Advance and warehouse facilities, net 2,934 2,885
Payables and other liabilities 2,550 2,633
MSR related liabilities - nonrecourse at fair value 512 528
Total liabilities 8,671 8,719
Commitments and contingencies (Note 15)
Common stock at $0.01 par value - 300 million shares authorized, 93.2 million shares issued 1 1
Additional paid-in-capital 1,066 1,104
Retained earnings 3,839 3,802
Treasury shares at cost - 25.2 million and 24.0 million shares, respectively (920) (850)
Total stockholders’ equity 3,986 4,057
Total liabilities and stockholders’ equity $ 12,657 $ 12,776