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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents $ 517 $ 527
Restricted cash 170 175
Mortgage servicing rights at fair value 7,149 6,654
Advances and other receivables, net of reserves of $156 and $137, respectively 802 1,019
Mortgage loans held for sale at fair value 1,187 893
Property and equipment, net of accumulated depreciation of $141 and $122, respectively 61 65
Deferred tax assets, net 657 703
Other assets 2,601 2,740
Total assets 13,144 12,776
Liabilities and Stockholders’ Equity    
Unsecured senior notes, net 2,676 2,673
Advance, warehouse and MSR facilities, net 3,512 2,885
Payables and other liabilities 2,395 2,633
MSR related liabilities - nonrecourse at fair value 482 528
Total liabilities 9,065 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 1,074 1,104
Retained earnings 3,981 3,802
Treasury shares at cost - 26.4 million and 24.0 million shares, respectively (977) (850)
Total stockholders’ equity 4,079 4,057
Total liabilities and stockholders’ equity $ 13,144 $ 12,776