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Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information 16. Segment Information
The Company’s segments reflect the internal reporting used to evaluate operating performance and are based upon the Company’s organizational structure, which focuses primarily on the services offered. The Company’s operations are primarily conducted through two segments: Servicing and Originations. A brief description of the current business segments is as follows:

Servicing: This segment performs operational activities on behalf of investors or owners of the underlying mortgages and mortgage servicing rights, including collecting and disbursing customer payments, investor reporting, customer service, modifying loans where appropriate to help customers stay current, and when necessary performing collections, foreclosures, and the sale of REO. In the fourth quarter of 2024, the Company expanded its servicing and subservicing portfolio with the acquisition and subsequent integration of the mortgage operations from the Flagstar transaction.

Originations: This segment originates residential mortgage loans through its direct-to-consumer channel, which provides refinance options for its existing customers, and through its correspondent channel, which purchases or originates loans from mortgage bankers.

Corporate/Other: Corporate/Other includes the results of Xome’s and Roosevelt Management Company’s operations, the Company’s unallocated overhead expenses (which include the costs of executive management and other corporate functions that are not directly attributable to our operating segments), changes in equity investments and interest expense on our unsecured senior notes. In addition, Corporate/Other includes eliminations related to intersegment hedge fair value changes. Functional expenses are allocated to individual segments based on the actual cost of services performed, direct resource utilization, or headcount percentage for shared services. 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 the Company’s operating segments. Revenues generated on inter-segment services performed are valued based on similar services provided to external parties. Eliminations are included in Corporate/Other.

The tables below summarize the result of operations and total assets by segment that are provided to the Chief Operating Decision Makers (CODMs), which consists of the Chief Executive Officer, the President and the Chief Financial Officer. Pretax income (loss) is a key measurement used by the CODMs to evaluate segment results and is one of the factors considered in determining capital allocation among the segments and determined in accordance with the measurement principles used in the consolidated financial statements.

 Three Months Ended June 30, 2025
Financial Information by SegmentServicingOriginationsCorporate/OtherConsolidated
Revenues
Service related, net$426 $30 $16 $472 
Net gain on mortgage loans held for sale8 128 — 136 
Total revenues434 158 16 608 
Expenses
Salaries, wages and benefits89 56 46 191 
General and administrative59 44 36 139 
Total expenses148 100 82 330 
Interest income184 33 — 217 
Interest expense(106)(30)(81)(217)
Other income (expenses), net— 3 (4)(1)
Total other income (expenses), net78 6 (85)(1)
Income (loss) before income tax expense (benefit)$364 $64 $(151)$277 
Depreciation and amortization for property and equipment and intangible assets$7 $2 $2 $11 
Total assets $14,412 $2,481 $1,606 $18,499 
Three Months Ended June 30, 2024
Financial Information by SegmentServicingOriginationsCorporate/OtherConsolidated
Revenues
Service related, net$446 $19 $20 $485 
Net gain on mortgage loans held for sale10 88 — 98 
Total revenues456 107 20 583 
Expenses
Salaries, wages and benefits84 40 44 168 
General and administrative87 29 16 132 
Total expenses171 69 60 300 
Interest income174 15 — 189 
Interest expense(105)(15)(67)(187)
Other expense, net— — (8)(8)
Total other income (expenses), net69 — (75)(6)
Income (loss) before income tax expense (benefit)$354 $38 $(115)$277 
Depreciation and amortization for property and equipment and intangible assets$2 $1 $5 $8 
Total assets $12,759 $1,398 $1,626 $15,783 

 Six Months Ended June 30, 2025
Financial Information by SegmentServicingOriginationsCorporate/OtherConsolidated
Revenues
Service related, net$823 $56 $33 $912 
Net gain on mortgage loans held for sale14 242 — 256 
Total revenues837 298 33 1,168 
Expenses
Salaries, wages and benefits179 108 97 384 
General and administrative209 87 80 376 
Total expenses388 195 177 760 
Interest income341 62 3 406 
Interest expense(212)(56)(162)(430)
Other expenses, net— — (12)(12)
Total other income (expenses), net129 6 (171)(36)
Income (loss) before income tax expense (benefit)$578 $109 $(315)$372 
Depreciation and amortization for property and equipment and intangible assets$21 $4 $4 $29 
Total assets $14,412 $2,481 $1,606 $18,499 
Six Months Ended June 30, 2024
Financial Information by SegmentServicingOriginationsCorporate/OtherConsolidated
Revenues
Service related, net$886 $35 $42 $963 
Net gain on mortgage loans held for sale20 164 — 184 
Total revenues906 199 42 1,147 
Expenses
Salaries, wages and benefits169 74 84 327 
General and administrative187 57 46 290 
Total expenses356 131 130 617 
Interest income320 27 — 347 
Interest expense(203)(25)(129)(357)
Other expense, net— — (11)(11)
Total other income (expenses), net117 2 (140)(21)
Income (loss) before income tax expense (benefit)$667 $70 $(228)$509 
Depreciation and amortization for property and equipment and intangible assets$5 $2 $9 $16 
Total assets $12,759 $1,398 $1,626 $15,783