Net (loss) income attributable to Successor/Predecessor

$ 1,020

$ (189)

Adjustments to reconcile net (loss) income to net cash attributable to operating activities:

Net loss attributable to non-controlling interests

(931)

(53)

0

(2)

(83)

(788)

(72)

(241)

MSL related increased obligation

0

0

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

14

53

(27)

998

Fair value changes in mortgage servicing rights financing liability

26

(190)

0

15

Fair value changes in mortgage loans held for investment

0

(3)

Amortization of premiums, net of discount accretion

3

(38)

Depreciation and amortization for property and equipment and intangible assets

15

67

2

14

Repurchases of forward loan assets out of Ginnie Mae securitizations

0

5

(223)

(1,823)

Mortgage loans originated and purchased for sale, net of fees

(3,458)

(27,673)

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

3,546

27,916

76

265

442

1,700

(15)

8

(159)

(69)

176

(28)

(33)

(85)

Purchase of forward mortgage servicing rights, net of liabilities incurred

(14)

(38)

(63)

(454)

0

Proceeds on sale of forward and reverse mortgage servicing rights

60

298

0

(50)

(279)

186

1,930

46

(95)

0

(294)

0

398

0

20

Proceeds from issuance of participating interest financing in reverse mortgage interests

(91)

(568)

45

220

Repayment of participating interest financing in reverse mortgage interests

(403)

(1,472)

84

469

(21)

(19)

(31)

(163)

(3)

(29)

0

0

(3)

(1,030)

0

0

(1)

(1)

(5)

0

Net increase (decrease) in cash, cash equivalents, and restricted cash

(1,219)

388

(1,093)

81

Cash, cash equivalents, and restricted cash - beginning of period

1,623

561

Cash, cash equivalents, and restricted cash - end of period

530

^[1]

$ 1,623

642

^[1]

Supplemental Disclosures of Cash Activities

Cash paid for interest expense

135

166

Net cash (refunded) paid for income taxes

0

$ (4)

Nationstar Mortgage Holdings Inc.

Net (loss) income attributable to Successor/Predecessor

154

Adjustments to reconcile net (loss) income to net cash attributable to operating activities:

Net loss attributable to non-controlling interests

0

0

(295)

(274)

MSL related increased obligation

(9)

59

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

70

(177)

Fair value changes in mortgage servicing rights financing liability

81

16

Fair value changes in mortgage loans held for investment

0

Amortization of premiums, net of discount accretion

8

Depreciation and amortization for property and equipment and intangible assets

33

17

Repurchases of forward loan assets out of Ginnie Mae securitizations

3

(544)

Mortgage loans originated and purchased for sale, net of fees

(12,328)

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

13,392

377

1,601

(41)

151

2,294

0

Purchase of forward mortgage servicing rights, net of liabilities incurred

(40)

(134)

(1)

Proceeds on sale of forward and reverse mortgage servicing rights

0

13

(162)

(585)

(305)

0

759

0

Proceeds from issuance of participating interest financing in reverse mortgage interests

(448)

208

Repayment of participating interest financing in reverse mortgage interests

(1,599)

70

(3)

(105)

(7)

(62)

0

0

(9)

(24)

(1)

Net increase (decrease) in cash, cash equivalents, and restricted cash

(2,111)

21

Cash, cash equivalents, and restricted cash - beginning of period

$ 596

^[1]

575

Cash, cash equivalents, and restricted cash - end of period

^[1]

596

Supplemental Disclosures of Cash Activities

Cash paid for interest expense

417

Net cash (refunded) paid for income taxes

$ 36

[1]

The following table provides a reconciliation of cash, cash equivalents and restricted cash to amount reported within the consolidated balance sheets. Cash and cash equivalents of $371, $198 and $166, Restricted cash of $271, $332, and $430 and Total cash, cash equivalents, and restricted cash of $642, $530 and $596, as of September 30, 2019, September 30, 2018, and July 31, 2018, respectively

Unaudited Consolidated Statements of Cash Flows - Supplemental Information
$ in Millions

Jul. 31, 2018

USD ($)

Total cash, cash equivalents, and restricted cash

$ 1,623

Nationstar Mortgage Holdings Inc.

Cash and cash equivalents

166

Restricted cash

430

Total cash, cash equivalents, and restricted cash

$ 596

^[1]

[1]

The following table provides a reconciliation of cash, cash equivalents and restricted cash to amount reported within the consolidated balance sheets. Cash and cash equivalents of $371, $198 and $166, Restricted cash of $271, $332, and $430 and Total cash, cash equivalents, and restricted cash of $642, $530 and $596, as of September 30, 2019, September 30, 2018, and July 31, 2018, respectively

Nature of Business and Basis of Presentation	9 Months Ended
Nature of Business and Basis of Presentation	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Basis of Presentation	1. Nature of Business and Basis of Presentation Nature of Business Mr. Cooper Group Inc., collectively with its consolidated subsidiaries, (“Mr. Cooper”, the “Company”, “we”, “us” or “our”) provides servicing, origination and transaction-based services related to single family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper is one of the largest home loan originators and servicers in the country focused on delivering a variety of servicing and lending products, services and technologies. Xome provides real estate data as well as a range of services including real estate brokerage, title, closing, valuation and field services to lenders, investors and consumers. The Company’s corporate website is located at www.mrcoopergroup.com. The Company has provided a glossary of terms, which defines certain industry-specific and other terms that are used herein, in the MD&A section of this Form 10-Q. Mr. Cooper, which was previously known as WMIH Corp. (“WMIH”), is a corporation duly organized and existing under the laws of the State of Delaware since May 11, 2015. On July 31, 2018, Wand Merger Corporation (“Merger Sub”), a wholly-owned subsidiary of WMIH merged with and into Nationstar Mortgage Holdings Inc. (“Nationstar”), with Nationstar continuing as a wholly-owned subsidiary of WMIH (the “Merger”). Prior to the Merger, WMIH had limited operations other than its reinsurance business that operated in runoff mode. As a result of the Merger, shares of Nationstar common stock were delisted from the New York Stock Exchange. Following the Merger closing, the combined company traded on NASDAQ under the ticker symbol “WMIH” until October 10, 2018, when WMIH changed its name to “Mr. Cooper Group Inc.” and its ticker symbol to “COOP”. Basis of Presentation For the purpose of financial statement presentation, Mr. Cooper was determined to be the accounting acquirer in the Merger, and Nationstar’s assets and liabilities were recorded at estimated fair value as of the acquisition date. Mr. Cooper’s interim consolidated financial statements for periods following the Merger closing are labeled “Successor” and reflect the acquired assets and liabilities from Nationstar. Under Securities and Exchange Commission (“SEC”) rules, when a registrant succeeds to substantially all of the business of another entity and the registrant’s own operations before the succession appear insignificant relative to the operations assumed or acquired, the registrant is required to present financial information for the acquired entity (the “Predecessor”) for all comparable periods being presented before the acquisition. Due to the acquisition, the Predecessor and Successor financial statements have been prepared on different basis of accounting and are therefore not comparable. Pursuant to the Merger, Nationstar is considered the predecessor company. Therefore, the Company is providing additional information in the accompanying unaudited consolidated financial statements regarding Nationstar’s business for periods prior to July 31, 2018. The predecessor company financial information in this report is labeled “Predecessor” in these consolidated interim financial statements. The consolidated interim financial statements of the Company and Predecessor have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the SEC. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Reports on Form 10-K for the year ended December 31, 2018. Upon the consummation of the Merger, the Company adopted the significant accounting policies that were implemented by Nationstar and applied to the Predecessor’s financial statements, as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The interim consolidated financial statements are unaudited; however, in the opinion of management, all adjustments, consisting of normal recurring items, considered necessary for a fair presentation of the results of the interim periods have been included. Dollar amounts are reported in millions, except per share data and other key metrics, unless otherwise noted. The Company evaluated subsequent events through the date these interim consolidated financial statements were issued. Basis of Consolidation The basis of consolidation described below was adopted by Nationstar and applied to the Predecessor financial statements for the periods impacted by the adoption. The Successor’s financial statements reflect the adoption of such standards. The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, other entities in which the Company has a controlling financial interest and those variable interest entities (“VIE”) where the Company’s wholly-owned subsidiaries are the primary beneficiaries. Assets and liabilities of VIEs and their respective results of operations are consolidated from the date that the Company became the primary beneficiary through the date the Company ceases to be the primary beneficiary. The Company applies the equity method of accounting to investments where it is able to exercise significant influence, but not control, over the policies and procedures of the entity and owns less than 50% of the voting interests. Investments in certain companies over which the Company does not exert significant influence are accounted for as cost method investments. Intercompany balances and transactions on consolidated entities have been eliminated. Business combinations are included in the consolidated financial statements from their respective dates of acquisition. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates due to factors such as adverse changes in the economy, changes in interest rates, secondary market pricing for loans held for sale and derivatives, strength of underwriting and servicing practices, changes in prepayment assumptions, declines in home prices or discrete events adversely affecting specific borrowers, and such differences could be material. Reclassification Certain reclassifications have been made in the 2018 consolidated financial statements to conform to 2019 presentation. Such reclassifications did not affect total revenues or net income. Recent Accounting Guidance Adopted Accounting Standards Update No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), No. 2018-10, Codification Improvements to Topic 842, Leases (“ASU 2018-10”), and No. 2018-11, Leases (Topic 842): Targeted Improvements (“ASU 2018-11”), primarily impact lessee accounting by requiring the recognition of a right-of-use asset and a corresponding lease liability on the balance sheet for long-term lease agreements. ASU 2016-02 was effective for the Company on January 1, 2019. ASU 2016-02 provides for a modified retrospective transition approach requiring lessees to recognize and measure leases on the balance sheet at the beginning of either the earliest period presented or as of the beginning of the period of adoption with the option to elect certain practical expedients. The Company has elected to apply ASU 2016-02 as of the beginning of the period of adoption (January 1, 2019) and has not restated comparative periods. The Company elected the package of practical expedients, which, among other items, permits the Company not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company also elected the short-term lease recognition exemption for all leases that qualify. Under this practical expedient, for those leases that qualify, the Company does not recognize right-of-use (“ROU”) assets or lease liabilities, which includes not recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. The Company also elected the practical expedient to not separate lease and non-lease components for all of our leases. The Company did not elect the use-of-hindsight practical expedient. As a result of implementing ASU 2016-02, the Company recognized an operating lease ROU asset of $114 and an operating lease liability of $124 on January 1, 2019, with no impact on its consolidated statement of operations. The ROU asset and operating lease liability are recorded in other assets, and payables and other liabilities, respectively, in the consolidated balance sheets. See Note 7, Leases for additional information. Accounting Standards Update No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40 - Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" (“ASU 2018-15”) aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 will be effective for the Company on January 1, 2020. Early adoption is permitted, including adoption in any interim period. In the first quarter of 2019, the Company early adopted ASU 2018-15. The standard did not have a material impact to the Company’s consolidated financial statements. Recent Accounting Guidance Not Yet Adopted Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”), requires expected credit losses for financial instruments held at the reporting date to be measured based on historical experience, current conditions and reasonable and supportable forecasts. The update eliminates the probable initial recognition threshold in current GAAP and instead reflects an entity’s current estimate of all expected credit losses over the life of the asset. Previously, when credit losses were measured under GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. The new standard will reflect management’s best estimate of all expected credit losses for the Company’s financial assets that are recognized at amortized cost. As part of the evaluation process, the Company has performed a scoping analysis, developed a detailed project plan, and is currently in process of completing documentation. The Company has also formed an internal committee from various internal departments to assist in the implementation of the new standard. The guidance is effective in first quarter 2020 with a cumulative-effect adjustment to retained earnings as of the beginning of the year of adoption. The Company is currently evaluating the potential impact of ASU 2016-13 on its consolidated financial statements. Accounting Standards Update No. 2018-13, Fair Value Measurement (Topic 820) - Changes to the Disclosure Requirements for Fair Value Measurement, (“ASU 2018-13”) removes the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 fair value measurement methodologies, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements. It also adds a requirement to disclose changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 measurements. For certain unobservable inputs, entities may disclose other quantitative information in lieu of the weighted average if the other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 will be effective for the Company on January 1, 2020. The guidance will not have a material impact to the disclosures currently provided by the Company.

Acquisitions

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Acquisitions

2. Acquisitions

Acquisition of Pacific Union Financial, LLC

On February 1, 2019, the Company completed the acquisition of all the limited liability units of Pacific Union Financial, LLC (“Pacific Union”), a California limited liability company. Pacific Union was a privately-held company that was engaged in the origination, as well as servicing of residential mortgage loans, and operated throughout the United States. The acquisition allows the Company to expand its servicing portfolio and increase its mortgage lending volume and capabilities.

The acquisition has been accounted for in accordance with Financial Accounting Standard Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 805 (“ASC 805”), Business Combinations, using the acquisition method of accounting. Under the acquisition method of accounting, the Company allocated the purchase price of the acquisition to identifiable assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The determination of fair value estimates requires management to make certain estimates about discount rates, future expected cash flows, market conditions, and other future events that are highly subjective in nature and may require adjustments. The purchase price was estimated to be $116 as of the closing date and such amount was paid by the Company as required by the Unit Purchase Agreement (“UPA”). In accordance with the terms of the UPA, the seller has formally disputed the estimated purchase price. As a result of the dispute, the final purchase price is subject to adjustment until the end of the measurement period (up to one year from the acquisition date), which would result in an increase to cash consideration paid and goodwill. Solely for this purpose, the Company estimates that it is reasonably possible that the adjustment to the final purchase price would range between $0 and $16. During the second quarter of 2019, the Company finalized its purchase price allocation subject to resolution of the above dispute. Based on the allocation of fair value, goodwill of $40 has been recorded, which represents the excess of the purchase price over the estimated fair value of tangible and intangible assets acquired, net of the liabilities assumed. The goodwill is primarily attributable to the assembled workforce and synergies with the Company’s current operations. $28 and $12 of the goodwill is assigned to the Origination and Servicing segments, respectively, based on expected cash flows and is expected to be deductible for tax purposes.



Estimated Fair Value of Net Assets Acquired ⁽¹⁾:
Cash and cash equivalents	$	37
Restricted cash	2
Mortgage servicing rights	271
Advances and other receivables	84
Mortgage loans held for sale	536
Mortgage loans held for investment	1
Property and equipment	8
Other assets	483
Fair value of assets acquired	1,422
Notes payable⁽²⁾	294
Advance facilities	13
Warehouse facilities	393
Payables and other liabilities	530
Other nonrecourse debt	129
Fair value of liabilities assumed	1,359
Total fair value of net tangible assets acquired	63
Intangible assets:
Customer relationships⁽³⁾	13
Goodwill	40
Estimated purchase price	$	116


⁽¹⁾	Estimated Fair Value of Net Assets Acquired is subject to change due to dispute of purchase price.


⁽²⁾	Notes payable was subsequently paid off in February 2019 after the consummation of the acquisition.


⁽³⁾	The estimated fair values for customer relationships were measured using the excess earnings method and were determined to have a remaining useful life of 10 years.

During the second quarter of 2019, the Company obtained additional information that existed as of the acquisition date and updated its estimated accrued liabilities, which resulted in $11 increase to payables and other liabilities. In addition, the third-party valuation specialists finalized their valuation of intangible assets acquired by the Company, which resulted in $2 increase to the fair value of the intangible assets acquired. The Company also wrote off $2 property and equipment acquired as it finalized its valuation of property and equipment. Total adjustments to goodwill in the second quarter of 2019 were $11. Preliminary goodwill totaled $40 after taking into account these measurement period adjustments.

The Company incurred total acquisition costs of $4 during the nine months ended September 30, 2019, of which $2 are included in salaries, wages and benefits expense and $2 in general and administrative expense in the Company’s consolidated statements of operations. The acquisition costs were primarily related to legal, accounting and consulting services. There were no acquisition costs incurred by the Company in the three months ended September 30, 2019.

For the three and nine months ended September 30, 2019, the operations contributed by this acquisition generated total revenues of $95 and $213 and income before income tax of $58 and $108, respectively, which are reported in the Company’s consolidated statements of operations.

The following unaudited pro forma financial information presents the combined results of operations for the three and nine months ended September 30, 2019, as if the acquisition had occurred on January 1, 2019.



	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Pro forma total revenues	$	618	$	1,286

Pro forma net income (loss)	$	83	$	(188	)

Acquisition of Nationstar Mortgage Holdings Inc.

Upon the Merger with Nationstar on July 31, 2018, each share of Nationstar’s common stock issued and outstanding immediately prior to the Effective Time was converted into the right to receive, at the election of the holder of such share, (i) $18.00 per share in cash, without interest, or (ii) 12.7793 shares (prior to the 1-for-12 reverse stock split) of validly issued, fully paid and nonassessable shares of WMIH common stock (the “Merger Consideration”). The Merger Consideration was subject to automatic proration and adjustment pursuant to the Merger Agreement to ensure that the total amount of cash paid (excluding cash paid in lieu of fractional shares) equaled approximately $1,226.

Pursuant to the Merger Agreement, immediately prior to the Effective Time, subject to certain exceptions, (i) each then-outstanding share of Nationstar restricted stock automatically vested in full and was converted into the right to receive the Merger Consideration, as elected by the holder thereof, and (ii) each then-outstanding Nationstar restricted stock unit, whether vested or unvested, was automatically vested in full, assumed by WMIH and converted into a WMIH restricted stock unit entitling the holder thereof to receive upon settlement the Merger Consideration, as elected by the holder.

Upon closing the Merger, all outstanding WMIH Series B Preferred Stock and all outstanding warrants to purchase shares of WMIH common stock were converted into common stock of WMIH.

Total purchase price was approximately $1,777, consisting of cash paid of $1,226 and transferred stock valued at $551. The purchase price was funded from available cash on hand and borrowings under senior unsecured notes (see discussion below). Prior to the acquisition, Nationstar was a publicly-held company that earned fees through the delivery of servicing, origination and transaction-based services related primarily to single-family residences throughout the United States. This acquisition marks the Company’s initial entry into the mortgage servicing industry that Nationstar operates in and is consistent with the Company’s business strategy.

On July 13, 2018, Merger Sub closed the offering of $950 aggregate principal amount of 8.125% Notes due 2023 (the “2023 Notes”) and $750 aggregate principal amount of 9.125% Notes due 2026 (the “2026 Notes” and, together with the 2023 Notes, the “New Notes”). The proceeds from the New Notes were used, together with the proceeds from the issuance of the Company’s common stock and the Company’s cash and restricted cash on hand, to consummate the Company’s acquisition of Nationstar and the refinancing of certain of Nationstar’s existing debt and to pay related fees and expenses. At the consummation of the acquisition, Merger Sub merged with and into Nationstar, with Nationstar continuing as a wholly-owned subsidiary of the Company. After the Merger, Nationstar assumed all of Merger Sub’s obligations under the New Notes.

The acquisition has been accounted for in accordance with ASC 805, Business Combinations, using the acquisition method of accounting. Under the acquisition method of accounting, the Company allocated the purchase price of the acquisition to identifiable assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The Company recorded final goodwill of $65, which represents the excess of the purchase price over the estimated fair value of tangible and intangible assets acquired, net of the liabilities assumed. The goodwill is primarily attributable to the assembled workforce and synergies from the future growth and strategic advantages in the mortgage industry. The entire goodwill is assigned to the Servicing segment and will not be deductible for tax purposes.

The table below presents the calculation of aggregate purchase price.



Purchase Price:
Converted WMIH common shares (prior to reverse stock split) in millions	394
Price per share, based on price of $1.398 for WMIH stock on July 31, 2018	$	1.398
Purchase price from common stock issued	551
Purchase price from cash payment	1,226
Total purchase price	$	1,777

The allocation of the fair value of the acquired business was based on final valuations of the estimated net fair value of the assets acquired. The determination of fair value estimates required management to make certain estimates about discount rates, future expected cash flows, market conditions, and other future events that are highly subjective in nature and may require adjustments. The Company’s estimates were subject to change as the Company obtained additional information and finalized its review of estimates during the measurement period (up to one year from the acquisition date). The Company recorded any adjustments to the preliminary fair value estimates in the reporting period in which the adjustments were determined. The Company finalized its allocation of fair value of consideration transferred in the three months ended June 30, 2019.

The final allocation of the purchase price to the acquired assets and liabilities is as follows:



Final Estimated Fair Value of Net Assets Acquired:
Cash and cash equivalents	$	166
Restricted cash	430
Mortgage servicing rights	3,422
Advances and other receivables	1,262
Reverse mortgage interests	9,189
Mortgage loans held for sale	1,514
Mortgage loans held for investment	125
Property and equipment	96
Other assets	610
Fair value of assets acquired	16,814
Unsecured senior notes	1,830
Advance facilities	551
Warehouse facilities	2,701
Payables and other liabilities	1,352
MSR related liabilities—nonrecourse	1,065
Mortgage servicing liabilities	123
Other nonrecourse debt	7,583
Fair value of liabilities assumed	15,205
Total fair value of net tangible assets acquired	1,609
Intangible assets⁽¹⁾	103
Goodwill	65
Purchase price	$	1,777


⁽¹⁾	The following intangible assets were acquired in the Nationstar acquisition.



	Useful Life (Years)	Fair Value
Customer relationships⁽ⁱ⁾	6	$	61
Tradename⁽ⁱⁱ⁾	5	8
Technology⁽ⁱⁱ⁾	3-5	11
Internally developed software⁽ⁱⁱⁱ⁾	2	23
Total		$	103


⁽ⁱ⁾	The estimated fair values for customer relationships were measured using the excess earnings method.


⁽ⁱⁱ⁾	The estimated fair values for tradename and technology were measured using the relief-from-royalty method. This method assumes the tradename and technology have value to the extent the owner is relieved of the obligation to pay royalties for the benefits received from these assets.


⁽ⁱⁱⁱ⁾	The estimated fair values for internally developed software were measured using the replacement cost method.

The preliminary allocation of fair value as of December 31, 2018 resulted in goodwill of $10. During the first quarter of 2019, the Company obtained additional information in finalizing its review regarding a market participant view of the cost to service assumption related to the valuation of reverse mortgage assets and liabilities. This additional information was used in finalizing the Company’s review of the fair value of the reverse mortgage assets and liabilities and resulted in a reduction of $24 in reverse mortgage interests, a reduction of $6 in reverse mortgage servicing rights and an increase of $37 in mortgage servicing liabilities. In addition, a reduction of $12 in payables and other liabilities was recorded for the tax impact related to the revised valuation, for a total adjustment to goodwill of $55. As a result of the revised fair value, the Company recorded $7 to service related, net revenue and $1 to interest income, for a total $8 increase to earnings in the consolidated statement of operations for the first quarter of 2019. During the second quarter of 2019, the Company finalized its allocation of purchase price which did not result in any significant additional measurement period adjustments. There was a total goodwill of $65 as of September 30, 2019 after taking into account these measurement period adjustments.

WMIH incurred total acquisition costs of $92 prior to the consummation of the Merger. The acquisition costs were primarily related to legal, accounting and consulting services and were expensed as incurred through July 31, 2018. Included in the total acquisition costs was a transaction fee of $25 to KKR Capital Markets LLC (“KCM”), an affiliate of KKR Wand Investors Corporation, which is WMIH’s largest stockholder, for acting as a non-exclusive financial advisor to WMIH with respect to the Merger and an arrangement fee of $7 to KCM for acting as a placement agent with respect to a bridge financing facility in connection with the Merger that was not executed. In addition, WMIH incurred $38 of costs related to borrowings under the New Notes, which was capitalized in debt costs.

WMIH also paid KCM a deferred fee of $8, which initially reduced the carrying value of the Series B Preferred Stock. This fee was payable in connection with the conversion of Series B Preferred Stock to WMIH common stock upon consummation of the Merger.

Included in the Predecessor’s consolidated statements of operations were $27 of acquisition costs incurred by Nationstar for the seven months ended July 31, 2018.

Included in the Company’s consolidated statements of operations were $7 of acquisition costs related to the compensation arrangements incurred by the Company related to the Merger for the two months ended September 30, 2018.

The following unaudited pro forma financial information presents the combined results of operations for the three and nine months ended September 30, 2018, as if the acquisition had occurred on January 1, 2018.



	Three Months Ended September 30, 2018			Nine Months Ended September 30, 2018
Pro forma total revenues	$	506		$	1,538

Pro forma net (loss) income	$	(20	)	$	156

Acquisition of Assurant Mortgage Solutions (“AMS”)

On August 1, 2018, Xome Holdings LLC, a wholly-owned subsidiary of the Company, acquired AMS for $38 in cash with additional contingent consideration dependent on the achievement of certain future performance targets, which was estimated at $15 as of December 31, 2018. Total purchase price was estimated at $53. The acquisition expands Xome’s product footprint and grows its third-party client portfolio across its valuation, title and field services businesses. The Company finalized its purchase price allocation and recorded intangible assets of $24 and goodwill of $13 in 2018. The Company expects the entire goodwill balance to be deductible for tax purposes. Under ASC 805, Business Combinations, the contingent consideration was remeasured to fair value of $4 at March 31, 2019 and remained unchanged at June 30, 2019. The contingent consideration was remeasured at September 30, 2019 and was determined to have zero fair value. The changes in the fair value of $4 and $15 were included in other income (expenses) within the consolidated statements of operations for the three and nine months ended September 30, 2019, respectively.

Mortgage Servicing Rights ("MSRs") and Related Liabilities

9 Months Ended

Sep. 30, 2019

Transfers and Servicing [Abstract]

Mortgage Servicing Rights (MSRs) and Related Liabilities

3. Mortgage Servicing Rights and Related Liabilities

The following table sets forth the carrying value of the Company’s mortgage servicing rights (“MSRs”) and the related liabilities.



	Successor
MSRs and Related Liabilities	September 30, 2019		December 31, 2018
Forward MSRs - fair value	$	3,339	$	3,665
Reverse MSRs - amortized cost	7		11
Mortgage servicing rights	$	3,346	$	3,676

Mortgage servicing liabilities - amortized cost	$	69	$	71

Excess spread financing - fair value	$	1,281	$	1,184
Mortgage servicing rights financing - fair value	47		32
MSR related liabilities - nonrecourse at fair value	$	1,328	$	1,216

Mortgage Servicing Rights

The Company owns and records at fair value the rights to service traditional residential mortgage (“forward”) loans for others, either as a result of purchase transactions or from the retained servicing associated with the sales and securitizations of loans originated. MSRs are comprised of servicing rights related to both agency and non-agency loans.

The following table sets forth the activities of forward MSRs.



	Successor						Predecessor
MSRs - Fair Value	Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018			Seven Months Ended July 31, 2018
Fair value - beginning of period	$	3,665		$	3,413		$	2,937
Additions:
Servicing retained from mortgage loans sold	298			43			162
Purchases of servicing rights⁽¹⁾	732			72			144
Dispositions:
Sales of servicing assets⁽²⁾	(317		)	(63		)	4
Changes in fair value:
Changes in valuation inputs or assumptions used in the valuation model	(716		)	65			330
Other changes in fair value	(323		)	(45		)	(164		)
Fair value - end of period	$	3,339		$	3,485		$	3,413

⁽¹⁾

Purchases of servicing rights during the nine months ended September 30, 2019 includes $271 of mortgage servicing rights that were acquired from Pacific Union. See Note 2, Acquisitions for further discussion. In addition, on January 3, 2019, the Company entered into a subservicing contract for $24 billion unpaid principal balance in mortgages. The related servicing rights were subsequently purchased on May 1, 2019, resulting in additional $253 servicing rights during the second quarter of 2019.


⁽²⁾	Amount for the seven months ended July 31, 2018 is related to the sale of MSRs collateralized by nonperforming loans, which have a negative MSR value.

From time to time, the Company sells its ownership interest in certain MSRs and is retained as the subservicer for the sold assets. The Company has evaluated the sale accounting requirements related to these transactions, including the Company’s continued involvement as the subservicer, and concluded that these transactions qualify for sale accounting treatment. During the nine months ended September 30, 2019 and two months ended September 30, 2018, the Company sold $25,639 and $5,947 in unpaid principal balance (“UPB”) of forward MSRs, of which $20,560 and none were retained by the Company as subservicer, respectively. During the seven months ended July 31, 2018, the Predecessor sold $1,203 in UPB of forward MSRs, of which $1 in UPB was retained by the Predecessor as subservicer.

MSRs measured at fair value are segregated between credit sensitive and interest sensitive pools at acquisition of MSRs. Credit sensitive pools are primarily impacted by borrower performance under specified repayment terms, which most directly impacts involuntary prepayments and delinquency rates. Interest sensitive pools are primarily impacted by changes in forecasted interest rates, which in turn impact voluntary prepayment speeds. The Company assesses whether acquired portfolios are more credit sensitive or interest sensitive in nature on the date of acquisition or transfer. Numerous factors are considered in making this assessment, including loan-to-value ratios, FICO scores, percentage of portfolio previously modified, portfolio seasoning and similar criteria. The determination between credit sensitive and interest sensitive for a pool is made at the date of acquisition, and no subsequent changes are made.

Credit sensitive portfolios generally consist of higher delinquency, single-family non-conforming residential forward mortgage loans serviced for agency and non-agency investors. Due to the Company’s focus on recapture and modifications, significant amounts of the credit sensitive portfolio have been re-underwritten and, therefore, behave more like the interest sensitive portfolio. Interest sensitive portfolios generally consist of lower delinquency, single-family conforming residential forward mortgage loans for agency investors.

The following table provides a breakdown of credit sensitive and interest sensitive unpaid principal balance (“UPB”) for the Company’s forward MSRs.



	Successor
	September 30, 2019				December 31, 2018
MSRs - Sensitivity Pools	UPB		Fair Value		UPB		Fair Value
Credit sensitive	$	157,898	$	1,661	$	135,752	$	1,495
Interest sensitive	148,783		1,678		159,729		2,170
Total	$	306,681	$	3,339	$	295,481	$	3,665

The Company used the following key weighted-average inputs and assumptions in estimating the fair value of MSRs.



	Successor
	September 30, 2019		December 31, 2018
Credit Sensitive
Discount rate	10.4	%	11.3	%
Prepayment speeds	13.2	%	11.8	%
Average life	5.9 years		6.4 years

Interest Sensitive
Discount rate	9.0	%	9.3	%
Prepayment speeds	14.6	%	10.0	%
Average life	5.4 years		7.0 years

Total MSR Portfolio
Discount rate	9.7	%	10.2	%
Prepayment speeds	13.9	%	10.8	%
Average life	5.6 years		6.7 years

The following table shows the hypothetical effect on the fair value of the Company’s MSRs when applying certain unfavorable variations of key assumptions to these assets for the dates indicated.



	Successor
	Discount Rate						Total Prepayment Speeds
MSRs - Hypothetical Sensitivities	100 bps Adverse Change			200 bps Adverse Change			10% Adverse Change			20% Adverse Change
September 30, 2019
Mortgage servicing rights	$	(117	)	$	(226	)	$	(164	)	$	(316	)

December 31, 2018
Mortgage servicing rights	$	(137	)	$	(265	)	$	(129	)	$	(250	)

These hypothetical sensitivities should be evaluated with care. The effect on fair value of a 10% adverse change in assumptions generally cannot be determined because the relationship of the change in assumptions to the fair value may not be linear. Additionally, the impact of a variation in a particular assumption on the fair value is calculated while holding other assumptions constant. In reality, changes in one factor may lead to changes in other factors, which could impact the above hypothetical effects.

Reverse Mortgage Servicing Rights and Liabilities - Amortized Cost

The Company services certain HECM reverse mortgage loans with an unpaid principal balance of $23,990 and $28,415 as of September 30, 2019 and December 31, 2018, respectively. Mortgage servicing liabilities (“MSL”) had an ending balance of $69 and $71 as of September 30, 2019 and December 31, 2018, respectively. For the nine months ended September 30, 2019 and two months ended September 30, 2018, the Company accreted $39 and $7 of the MSL, respectively. In addition, the Company recorded an MSL adjustment of $37 during the nine months ended September 30, 2019. The MSL adjustment recorded by the Company relates to the fair value adjustments for MSL assumed from the Merger resulting from the revised cost to service assumption used in the valuation of MSL during the measurement period. See Note 2, Acquisitions for further information. For the seven months ended July 31, 2018, the Predecessor accreted $11 of the MSL and recorded an impairment of $56 in general and administrative expenses. Accretion recorded by the Predecessor relates to previous portfolio acquisitions.

Reverse MSR had an ending balance of $7 and $11 as of September 30, 2019 and December 31, 2018, respectively. For the nine months ended September 30, 2019, the Company amortized $2 and recorded other MSR adjustments of $6. The MSR adjustment recorded by the Company relates to the fair value adjustments for MSR assumed from the Merger resulting from the revised cost to service assumption used in the valuation of MSR during the measurement period. See Note 2, Acquisitions for further information. For the two months ended September 30, 2018, the Company recorded less than $1 of amortization. For the seven months ended July 31, 2018, the Predecessor recorded an impairment of $4.

The fair value of the reverse MSR was $7 and $11 as of September 30, 2019 and December 31, 2018, respectively. The fair value of the MSL was $41 and $53 as of September 30, 2019 and December 31, 2018, respectively. Management evaluates reverse MSRs and MSLs each reporting period for impairment. Based on management’s assessment at September 30, 2019, no impairment or increased obligation was needed.

Excess Spread Financing - Fair Value

In order to finance the acquisition of certain MSR portfolios, the Company has entered into sale and assignment agreements with third parties and sold to these entities the right to receive a specified percentage of the cash flow generated from the portfolios in excess of a fixed base servicing fee per loan. The Company retains the base servicing fee, along with ancillary income and interest float earnings on principal and interest payments and escrows, and also incurs costs to service the specified pool. The Company is the legal owner and the servicer of the portfolios and provides all servicing and advancing functions.

In connection with the above transactions, the Company entered into refinanced loan obligations with third parties that require the Company to transfer the new loan or a replacement loan of similar economic characteristics into the respective portfolio if the Company refinances any loan in the portfolio. The new or replacement loan will be governed by the same terms set forth in the sale and assignment agreement described above.

The Company used the following weighted-average assumptions in the Company’s valuation of excess spread financing.



	Successor
	September 30, 2019		December 31, 2018
Excess Spread Financing Assumptions
Discount rate	11.9	%	10.4	%
Prepayment speeds	13.3	%	11.0	%
Recapture rate	22.3	%	18.6	%
Average life	5.7 years		6.5 years

The following table shows the hypothetical effect on the Company’s excess spread financing fair value when applying certain unfavorable variations of key assumptions to these liabilities for the dates indicated.



	Successor
	Discount Rate				Prepayment Speeds
Excess Spread Financing - Hypothetical Sensitivities	100 bps Adverse Change		200 bps Adverse Change		10% Adverse Change		20% Adverse Change
September 30, 2019
Excess spread financing	$	42	$	87	$	44	$	93

December 31, 2018
Excess spread financing	$	47	$	99	$	38	$	81

As the cash flow assumptions utilized in determining the fair value amounts in the excess spread financing are based on the related cash flow assumptions utilized in the financed MSRs, any fair value changes recognized in the financed MSRs attributable to a related cash flow assumption would inherently have an inverse impact on the carrying amount of the related excess spread financing. For example, while an increase in discount rates would negatively impact the value of the Company’s financed MSRs, it would reduce the carrying value of the associated excess spread financing liability.

These hypothetical sensitivities should be evaluated with care. The effect on fair value of a 10% variation in assumptions generally cannot be determined because the relationship of the change in assumptions to the fair value may not be linear. Additionally, the impact of a variation in a particular assumption on the fair value is calculated while holding other assumptions constant. In reality, changes in one factor may lead to changes in other factors, which could impact the above hypothetical effects. Also, a positive change in the above assumptions would not necessarily correlate with the corresponding decrease in the net carrying amount of the excess spread financing.

Mortgage Servicing Rights Financing - Fair Value

From December 2013 through June 2014, the Predecessor entered into agreements to sell a contractually specified base servicing fee component of certain MSRs and servicing advances under specified terms to a joint venture capitalized by New Residential and certain unaffiliated third-party investors. The purpose of this transaction was to facilitate the financing of advances for private label mortgages. The Company continues to be the named servicer, and, for accounting purposes, ownership of the mortgage servicing rights continues to reside with the Company. Accordingly, the Company records the MSR and an MSR financing liability associated with this transaction in its consolidated balance sheets. The MSR financing liability reflects the incremental costs of this transaction relative to the market participant assumptions contained in the MSR valuation.

The following table sets forth the weighted average assumptions used in the valuation of the mortgage servicing rights financing liability.



	Successor
Mortgage Servicing Rights Financing Assumptions	September 30, 2019		December 31, 2018
Advance financing rates	3.7	%	4.2	%
Annual advance recovery rates	18.7	%	19.0	%

Mortgage Servicing Rights - Revenues

The following table sets forth the items comprising revenues associated with servicing loan portfolios.



	Successor									Predecessor
Servicing Revenue	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018			One Month Ended July 31, 2018			Seven Months Ended July 31, 2018
Contractually specified servicing fees⁽¹⁾	$	305		$	893		$	163		$	79		$	574
Other service-related income⁽¹⁾⁽²⁾	51			133			18			10			66
Incentive and modification income⁽¹⁾	12			29			8			4			37
Late fees⁽¹⁾	30			82			14			7			53
Reverse servicing fees	7			24			13			4			37
Mark-to-market adjustments⁽³⁾	(83		)	(607		)	24			25			196
Counterparty revenue share⁽⁴⁾	(86		)	(204		)	(26		)	(16		)	(111		)
Amortization, net of accretion⁽⁵⁾	(73		)	(152		)	(31		)	(16		)	(112		)
Total servicing revenue	$	163		$	198		$	183		$	97		$	740


⁽¹⁾	Amounts include subservicing related revenues.


⁽²⁾	Amount for the nine months ended September 30, 2019 includes a gain of $21 from the execution of a clean-up call option on a reverse mortgage loan trust, as the Company was the master servicer and holder of clean-up call rights.

⁽³⁾

Mark-to-market (“MTM”) adjustments include fair value adjustments on MSR, excess spread financing and MSR financing liabilities. The amount of MSR MTM includes the impact of negative modeled cash flows which have been transferred to reserves on advances and other receivables. The negative modeled cash flows relate to advances and other receivables associated with inactive and liquidated loans that are no longer part of the MSR portfolio. The impact of negative modeled cash flows for the Company was $18, $46, and $13 for the three and nine months ended September 30, 2019 and two months ended September 30, 2018, respectively. The impact of negative modeled cash flows for the Predecessor totaled $4 and $38 for the one and seven months ended July 31, 2018, respectively.


⁽⁴⁾	Counterparty revenue share represents the excess servicing fee that the Company pays to the counterparties under the excess spread financing arrangements and the payments made associated with MSRs financing arrangements.

⁽⁵⁾

Amortization for the Company is net of excess spread accretion of $77 and $172 and MSL accretion of $10 and $39 for the three and nine months ended September 30, 2019, respectively. Amortization for the Company is net of excess spread accretion of $22 for the two months ended September 30, 2018. Amortization of the Predecessor is net of excess spread of $11 and $78 for the one and seven months ended July 31, 2018, respectively. The Predecessor recorded MSL accretion within reverse servicing fees, whereas the Successor has elected to record MSL accretion within amortization, net of accretion.

Advances and Other Receivables, Net

9 Months Ended

Sep. 30, 2019

Receivables [Abstract]

Advances and Other Receivables, Net

4. Advances and Other Receivables, Net

Advances and other receivables, net consists of the following.



	Successor
	September 30, 2019			December 31, 2018
Servicing advances, net of $148 and $205 discount, respectively	$	865		$	1,000
Receivables from agencies, investors and prior servicers, net of $48 and $48 discount, respectively	232			241
Reserves	(130		)	(47		)
Total advances and other receivables, net	$	967		$	1,194

The Company, as loan servicer, is contractually responsible to advance funds on behalf of the borrower and investor primarily for loan principal and interest, property taxes and hazard insurance and foreclosure costs. Advances are primarily recovered through reimbursement from the investor, proceeds from sale of loan collateral or mortgage insurance claims. Reserves for advances and other receivables on loans transferred out of the MSR portfolio are established within advances and other receivables.

The Company estimates and records an asset for estimated recoveries to be collected from prior servicers for their respective portion of the losses associated with the underlying loans that were not serviced in accordance with established guidelines. Receivables from prior servicers totaled $101 and $94 for the Company’s forward loan portfolio at September 30, 2019 and December 31, 2018, respectively.

The following table sets forth the activities of the servicing reserves for advances and other receivables.



	Successor								Predecessor
Reserves for Advances and Other Receivables	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018		One Month Ended July 31, 2018			Seven Months Ended July 31, 2018
Balance - beginning of period	$	98		$	47		$	—	$	294		$	284
Provision and other additions⁽¹⁾	35			102			20		7			69
Write-offs	(3		)	(19		)	—		(4		)	(56		)
Balance - end of period	$	130		$	130		$	20	$	297		$	297

⁽¹⁾

The Company recorded a provision of $18, $46, and $13 through the MTM adjustments in service related revenues for the three and nine months ended September 30, 2019, and two months ended September 30, 2018, respectively. The Predecessor recorded a provision of $4 and $38 through the MTM adjustments in service related revenues for the one and seven months ended July 31, 2018, respectively, for inactive and liquidated loans that are no longer part of the MSR portfolio. Other additions represent reclassifications of required reserves provisioned within other balance sheet accounts as associated serviced loans become inactive or liquidate.

Purchase Discount for Advances and Other Receivables

In connection with the acquisition of Pacific Union in February 2019, the Company recorded the acquired advances and other receivables at estimated fair value as of the acquisition date, which resulted in a purchase discount of $19. Refer to Note 2, Acquisitions for discussion of the Pacific Union acquisition. In 2018, the Company recorded the acquired advances and other receivables in connection with the Merger at estimated fair value as of the acquisition date, which resulted in a purchase discount of $302.

As of September 30, 2019, a total of $125 purchase discount has been utilized, with $196 purchase discount remaining.

The following table sets forth the activities of the purchase discounts for advances and other receivables.



	Successor
Purchase Discounts - Servicing Advances	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018
Balance - beginning of period	$	156		$	205		$	246
Addition from acquisition	—			19			—
Utilization of purchase discounts	(8		)	(76		)	(19		)
Balance - end of period	$	148		$	148		$	227



	Successor
Purchase Discounts - Receivables from Agencies, Investors and Prior Servicers	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019		Two Months Ended September 30, 2018
Balance - beginning of period	$	48	$	48	$	56
Addition from acquisition	—		—		—
Utilization of purchase discounts	—		—		—
Balance - end of period	$	48	$	48	$	56

Reverse Mortgage Interests, Net

9 Months Ended

Sep. 30, 2019

Reverse Mortgage Interests [Abstract]

Reverse Mortgage Interests, Net

5. Reverse Mortgage Interests, Net

Reverse mortgage interests, net consists of the following:



	Successor
	September 30, 2019			December 31, 2018
Participating interests in HECM mortgage-backed securities (“HMBS”), including $14 and $58 purchase premium, respectively	$	4,592		$	5,664
Other interests securitized, net of $63 and $100 purchase discount, respectively	879			1,064
Unsecuritized interests, net of $75 and $122 purchase discount, respectively	1,204			1,219
Reserves	(13		)	(13		)
Total reverse mortgage interests, net	$	6,662		$	7,934

Participating Interests in HMBS

Participating interests in HMBS consist of the Company’s reverse mortgage interests in HECM loans which have been transferred to GNMA and subsequently securitized through the issuance of HMBS. The Company does not own these loans, but due to HMBS program buyout requirements, such interests are consolidated in Company’s consolidated balance sheets. The Company does not originate reverse mortgages, but during the nine months ended September 30, 2019 and two months ended September 30, 2018, a total of $211 and $44 in UPB associated with new draws on existing loans was transferred to GNMA and securitized by the Company, respectively. During the seven months ended July 31, 2018, a total of $198 UPB was transferred to GNMA and securitized by the Predecessor.

In March 2019, the Company entered into an agreement with Fannie Mae for the transfer of reverse mortgage loans. As a result, $61 was transferred from Fannie Mae and securitized into GNMA HMBS during the nine months ended September 30, 2019.

Other Interests Securitized

Other interests securitized consist of reverse mortgage interests that no longer meet HMBS program eligibility criteria primarily because they have reached 98% of their Max Claim Amount (“MCA”), which is established at origination and in accordance with HMBS program guidelines, requiring a repurchase of loans from the respective HMBS trust. These reverse mortgage interests have subsequently been transferred to private securitization trusts and are accounted for as a secured borrowing. During the nine months ended September 30, 2019, the Company securitized a total of $398 UPB through Trust 2019-1 and a total of $249 UPB from Trust 2017-2 was called and the related debt was extinguished. See Note 10, Indebtedness for additional information. The Company sold $20 UPB of Trust 2018-3 retained bonds during the nine months ended September 30, 2019. No such securitizations occurred during the two months ended September 30, 2018. During the seven months ended July 31, 2018, the Predecessor securitized a total of $760 UPB through Trust 2018-1 and Trust 2018-2 and a total of $284 UPB from Trust 2016-2 and Trust 2016-3 were called and the related debt was extinguished. Refer to Other Nonrecourse Debt in Note 10, Indebtedness, for additional information.

Unsecuritized Interests

Unsecuritized interests in reverse mortgages consist of the following:



	Successor
	September 30, 2019			December 31, 2018
Repurchased HECM loans (exceeds 98% MCA)	$	874		$	949
HECM related receivables⁽¹⁾	289			300
Funded borrower draws not yet securitized	92			76
REO-related receivables	24			16
Purchase discount, net	(75		)	(122		)
Total unsecuritized interests	$	1,204		$	1,219


⁽¹⁾	HECM related receivables consist primarily of FNMA receivables for corporate advances and service fees and claims receivables from the U.S. Department of Housing and Urban Development (“HUD”).

Unsecuritized interests include repurchased HECM loans for which the Company is required to repurchase from the HMBS pool when the outstanding principal balance of the HECM loan is equal to or greater than 98% of the MCA established at origination and in accordance with HMBS program guidelines. These unsecuritized interests are primarily financed through available warehouse lines. The Company repurchased a total of $2,132 and $608 of HECM loans out of GNMA HMBS securitizations during the nine months ended September 30, 2019 and two months ended September 30, 2018, respectively, of which $561 and $138 were subsequently assigned to a third party in accordance with applicable servicing agreements, respectively. The Predecessor repurchased a total of $2,439 of HECM loans out of GNMA HMBS securitizations during the seven months ended July 31, 2018, of which $512 was subsequently assigned to a third party in accordance with applicable servicing agreements. To the extent a loan is not subject to applicable servicing agreements and assigned to a third party, the loan is either subject to assignment to HUD, per contractual obligations with GNMA, liquidated via a payoff from the borrower or liquidated via a foreclosure according to the terms of the underlying mortgage. The Company assigned a total of $1,458 and $458 of HECM loans to HUD during the nine months ended September 30, 2019 and two months ended September 30, 2018, respectively. The Predecessor assigned a total of $1,712 of HECM loans to HUD during the seven months ended July 31, 2018.

As discussed above, the Company estimates and records an asset for probable recoveries from prior servicers for their respective portion of the losses associated with the underlying loans that were not serviced in accordance with established guidelines. Net receivables from prior servicers totaled $8 and $18 for the Company’s reverse loan portfolio at September 30, 2019 and December 31, 2018, respectively.

Reserves for Reverse Mortgage Interests

The Company records reserves related to reverse mortgage interests based on potential unrecoverable costs and loss exposures expected to be realized. Recoverability is determined based on the Company’s ability to meet HUD servicing guidelines and is assessed with respect to both financial and operational exposures.

The following table sets forth the activities of the servicing reserves for reverse mortgage interests.



	Successor							Predecessor
Reserves for reverse mortgage interests	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018		One Month Ended July 31, 2018		Seven Months Ended July 31, 2018
Balance - beginning of period	$	8	$	13		$	—	$	117	$	115
Provision (release), net	5		7			1		12		32
Write-offs	—		(7		)	—		—		(18		)
Balance - end of period	$	13	$	13		$	1	$	129	$	129

Purchase Discount for Reverse Mortgage Interests

In connection with the Merger, the Company recorded the acquired reverse mortgage interests at estimated fair value as of the acquisition date, which resulted in a purchase premium of $42 for participating interests in HMBS, and a purchase discount of $298 for Other Interest Securitized and Unsecuritized Interests due to the higher exposure to financial and operational losses of servicing the loans through foreclosure and collateral liquidation. The premium and discount are amortized and accreted, respectively, based on the effective yield method, whereby the Company updates its prepayment assumptions for actual prepayments on a quarterly basis.

The following table sets forth the activities of the purchase premiums and discounts for reverse mortgage interests.



	Successor
	Three Months Ended September 30, 2019
Purchase premiums and discounts for reverse mortgage interests	Net Premium for Participating Interests in HMBS⁽¹⁾			Net Discount for Other Interest Securitized⁽¹⁾			Net Discount for Unsecuritized Interests⁽¹⁾
Balance - beginning of period	$	18		$	(84	)	$	(97	)
Utilization of purchase discounts⁽²⁾	—			11			29
(Amortization)/Accretion	(4		)	9			(6		)
Transfers⁽³⁾	—			1			(1		)
Balance - end of period	$	14		$	(63	)	$	(75	)



	Successor
	Nine Months Ended September 30, 2019
Purchase premiums and discounts for reverse mortgage interests	Net Premium for Participating Interests in HMBS⁽¹⁾			Net Discount for Other Interest Securitized⁽¹⁾			Net Discount for Unsecuritized Interests⁽¹⁾
Balance - beginning of period	$	58		$	(100	)	$	(122	)
Adjustments⁽⁴⁾	(16		)	(2		)	(6		)
Utilization of purchase discounts⁽²⁾	—			24			56
(Amortization)/Accretion	(41		)	22			3
Transfers⁽³⁾	13			(7		)	(6		)
Balance - end of period	$	14		$	(63	)	$	(75	)



	Successor
	Two Months Ended September 30, 2018
Purchase premiums and discounts for reverse mortgage interests	Net Premium for Participating Interests in HMBS⁽¹⁾			Net Discount for Other Interest Securitized⁽¹⁾			Net Discount for Unsecuritized Interests⁽¹⁾
Balance - beginning of period	$	58		$	(117	)	$	(161	)
(Amortization)/Accretion	(3		)	—			10
Balance - end of period	$	55		$	(117	)	$	(151	)


⁽¹⁾	Net position as certain items are in a premium/(discount) position, based on the characteristics of underlying tranches of loans.


⁽²⁾	Utilization of purchase discounts to mitigate loss on liquidated loans, for which the remaining receivable was written-off.


⁽³⁾	Transfer of premium/(discount) based on the transfer of associated loans between categories consistent with the underlying loan characteristics.


⁽⁴⁾	Adjustments to premium/(discount) due to revised cost to service assumption utilized in the valuation of reverse mortgage assets and liabilities acquired from the Merger. See Note 2, Acquisitions for additional information.

In connection with previous reverse mortgage portfolio acquisitions, the Predecessor recorded a purchase discount within Unsecuritized Interests. The following table sets forth the activities of the purchase discount for reverse mortgage interests.



	Predecessor
Purchase discount for reverse mortgage interests	One Month Ended July 31, 2018			Seven Months Ended July 31, 2018
Balance - beginning of period	$	(84	)	$	(89	)
Additions	—			(7		)
Accretion	2			14
Balance - end of period	$	(82	)	$	(82	)

Reverse Mortgage Interest Income

The Company accrues interest income for its participating interest in reverse mortgages based on the stated rates underlying HECM loans, in accordance with FHA guidelines. Total interest earned on the Company’s reverse mortgage interests was $74, $241 and $72 for three and nine months ended September 30, 2019, and two months ended September 30, 2018, respectively. Total interest earned on the Predecessor’s reverse mortgage interests was $38 and $274 for one and seven months ended July 31, 2018, respectively.

Mortgage Loans Held for Sale and Investment

9 Months Ended

Sep. 30, 2019

Mortgage Loans Held for Sale and Investment [Abstract]

Mortgage Loans Held for Sale and Investment

6. Mortgage Loans Held for Sale and Investment

Mortgage Loans Held for Sale

The Company maintains a strategy of originating and purchasing residential mortgage loan products primarily for the purpose of selling to GSEs or other third-party investors in the secondary market on a servicing-retained basis. The Company purchases closed loans through its correspondent channel and assists customers currently in the Company’s servicing portfolio with refinancing of loans or new home purchases through its Direct to Consumer channel. Generally, all newly originated mortgage loans held for sale are securitized and transferred to GSEs or delivered to third-party purchasers shortly after origination on a servicing-retained basis.

Mortgage loans held for sale are recorded at fair value as set forth below.



	Successor
	September 30, 2019		December 31, 2018
Mortgage loans held for sale – UPB	$	4,110	$	1,568
Mark-to-market adjustment⁽¹⁾	157		63
Total mortgage loans held for sale	$	4,267	$	1,631


⁽¹⁾	The mark-to-market adjustment is recorded in net gain on mortgage loans held for sale in the consolidated statements of operations.

The Company accrues interest income as earned and places loans on non-accrual status after any portion of principal or interest has been delinquent for more than 90 days. Accrued interest is recorded as interest income in the consolidated statements of operations.

The total UPB of mortgage loans held for sale on non-accrual status was as follows:



	Successor
	September 30, 2019				December 31, 2018
Mortgage Loans Held for Sale - UPB	UPB		Fair Value		UPB		Fair Value
Non-accrual⁽¹⁾	$	31	$	26	$	45	$	42


⁽¹⁾	Non-accrual includes $26 and $40 of UPB related to Ginnie Mae repurchased loans as of September 30, 2019 and December 31, 2018, respectively.

The total UPB of mortgage loans held for sale for which the Company has begun formal foreclosure proceedings was $21 and $33 as of September 30, 2019 and December 31, 2018, respectively.

The following table sets forth the activities of mortgage loans held for sale.



	Successor						Predecessor
Mortgage loans held for sale	Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018			Seven Months Ended July 31, 2018
Balance - beginning of period	$	1,631		$	1,514		$	1,891
Mortgage loans originated and purchased, net of fees⁽¹⁾	28,199			3,459			12,319
Loans sold	(27,430		)	(3,508		)	(13,255		)
Repurchase of loans out of Ginnie Mae securitizations	1,823			223			544
Net transfers of mortgage loans held for sale to/from REO in other assets and transfer from mortgage loans held for investment⁽²⁾⁽³⁾	15			4			14
Changes in fair value	19			(8		)	(1		)
Other purchase-related activities⁽⁴⁾	10			(1		)	9
Transfer of mortgage loans held for sale to advances and other receivables, net related to claims⁽⁵⁾	—			(2		)	(7		)
Balance - end of period	$	4,267		$	1,681		$	1,514


⁽¹⁾	Mortgage loans originated and purchased during the nine months ended September 30, 2019 includes $536 of loans held for sale that were acquired from Pacific Union. See Note 2, Acquisitions for further discussion.


⁽²⁾	Net amounts are comprised of REO in the sales process, which are transferred to other assets, and certain government insured mortgage REO, which are transferred from other assets upon completion of the sale so that the claims process can begin.


⁽³⁾	Amount for the nine months ended September 30, 2019 includes $12 transfer from mortgage loans held for investment upon collapse of Trust 2009-A, the Company’s legacy portfolio, and sale of the loans held in the trust. See mortgage loans held for investment discussed in section below for additional information.


⁽⁴⁾	Amounts are comprised primarily of non-Ginnie Mae loan purchases and buyouts.


⁽⁵⁾	Amounts are comprised of claims made on certain government insured mortgage loans upon completion of the REO sale.

For the nine months ended September 30, 2019 and two months ended September 30, 2018, the Company received proceeds of $27,778 and $3,543 respectively, on the sale of mortgage loans held for sale, resulting in gains of $367 and $35, respectively. For the seven months ended July 31, 2018, the Predecessor received proceeds of $13,382 on the sale of mortgage loans held for sale, resulting in gains of $127.

The Company has the right to repurchase any individual loan in a Ginnie Mae securitization pool if that loan meets certain criteria, including being delinquent greater than 90 days. The majority of Ginnie Mae repurchased loans are repurchased in connection with loan modifications and loan resolution activity, with the intent to re-pool into new Ginnie Mae securitizations upon re-performance of the loan or to otherwise sell to third-party investors. Therefore, these loans are classified as held for sale.

Mortgage Loans Held for Investment

In September 2019, the Company collapsed Trust 2009-A, its legacy portfolio, and executed the sale of the loans held in the trust for a total purchase price of $130. The Company recognized a gain of $32, which was recorded in the net gain on mortgage loans held for sale in the consolidated statements of operations. $21 and $11 of the gain were recorded in the Servicing and Corporate/Other segments, respectively. In connection with this transaction, $94 UPB of the mortgage loans held for investment was called and the related debt was extinguished. The Company transferred the remaining $12 UPB to mortgage loans held for sale and $5 UPB to real estate owned.

The following table sets forth the activities of mortgage loans held for investment.



	Successor
Mortgage loans held for investment at fair value	Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018
Balance - beginning of period	$	119		$	125
Sale of mortgage loans	(94		)	—
Transfers to mortgage loans held for sale	(12		)	—
Payments received from borrowers	(11		)	(2		)
Transfers to real estate owned	(5		)	—
Changes in fair value⁽¹⁾	3			—
Losses incurred	—			(1		)
Balance - end of period	$	—		$	122


⁽¹⁾	The changes in fair value during the two months ended September 30, 2018, is less than $1.

The following sets forth the composition of mortgage loans held for investment as of December 31, 2018.



	Successor
	December 31, 2018
Mortgage loans held for investment – UPB	$	156
Fair value adjustments	(37		)
Total mortgage loans held for investment at fair value	$	119

The total UPB of mortgage loans held for investment on non-accrual status was as follows.



	Successor
	December 31, 2018
Mortgage Loans Held for Investment - UPB	UPB		Fair Value
Non-accrual	$	27	$	13

The total UPB of mortgage loans held for investment for which the Company has begun formal foreclosure proceedings was $15 as of December 31, 2018.

Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases, Finance

7. Leases

Operating leases in which the Company is the lessee are recorded as operating lease ROU assets and operating lease liabilities, included in other assets and payables and other liabilities, respectively, on its consolidated balance sheets as of September 30, 2019. The Company does not currently have any significant finance leases in which it is the lessee. Operating lease ROU assets represent the Company’s right to use an underlying asset during the lease term and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents the Company’s incremental borrowing rate at the lease commencement date. ROU assets are further adjusted for lease incentives. Operating lease expense, which is comprised of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term, and is recorded in general and administrative expenses in the consolidated statements of operations. The Company’s leases relate primarily to office space and equipment, with remaining lease terms of generally 1 to 10 years. Certain lease arrangements contain extension options, which typically range from 3 to 5 years, at the then fair market rental rates. As these extension options are not generally considered reasonably certain of exercise, they are not included in the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. As of September 30, 2019, operating lease ROU assets and liabilities were $126 and $137, respectively.

The table below summarizes the Company’s net lease cost:



	Successor
	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Operating lease cost	$	10		$	29
Short-term lease cost⁽¹⁾	—			1
Sublease income	(1		)	(2		)
Net lease cost	$	9		$	28


⁽¹⁾	Amount for three months ended September 30, 2019 is less than $1.

The table below summarizes other information related to the Company’s operating leases:



	Successor
	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8		$	21
Leased assets obtained in exchange for new operating lease liabilities⁽¹⁾	$	(5	)	$	150
Weighted average remaining lease term - operating leases, in years	5.7			5.7
Weighted average discount rate - operating leases	5.0		%	5.0		%


⁽¹⁾	The reduction in the three months ended September 30, 2019 is due to a modification of lease agreements.

Maturities of operating lease liabilities as of September 30, 2019 are as follows:



Year Ending December 31,	Operating Leases
2019⁽¹⁾	$	10
2020	39
2021	30
2022	22
2023	16
2024 and thereafter	45
Total future minimum lease payments	162
Less: imputed interest	25
Total operating lease liabilities	$	137


⁽¹⁾	Excluding the nine months ended September 30, 2019.

Finance lease liability was $3 as of September 30, 2019, the majority of which matures within a year.

Leases, Operating

7. Leases

Operating leases in which the Company is the lessee are recorded as operating lease ROU assets and operating lease liabilities, included in other assets and payables and other liabilities, respectively, on its consolidated balance sheets as of September 30, 2019. The Company does not currently have any significant finance leases in which it is the lessee. Operating lease ROU assets represent the Company’s right to use an underlying asset during the lease term and operating lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and operating lease liabilities are recognized at lease commencement based on the present value of the remaining lease payments using a discount rate that represents the Company’s incremental borrowing rate at the lease commencement date. ROU assets are further adjusted for lease incentives. Operating lease expense, which is comprised of amortization of the ROU asset and the implicit interest accreted on the operating lease liability, is recognized on a straight-line basis over the lease term, and is recorded in general and administrative expenses in the consolidated statements of operations. The Company’s leases relate primarily to office space and equipment, with remaining lease terms of generally 1 to 10 years. Certain lease arrangements contain extension options, which typically range from 3 to 5 years, at the then fair market rental rates. As these extension options are not generally considered reasonably certain of exercise, they are not included in the lease term. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of the lease payments. As of September 30, 2019, operating lease ROU assets and liabilities were $126 and $137, respectively.

The table below summarizes the Company’s net lease cost:



	Successor
	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Operating lease cost	$	10		$	29
Short-term lease cost⁽¹⁾	—			1
Sublease income	(1		)	(2		)
Net lease cost	$	9		$	28


⁽¹⁾	Amount for three months ended September 30, 2019 is less than $1.

The table below summarizes other information related to the Company’s operating leases:



	Successor
	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8		$	21
Leased assets obtained in exchange for new operating lease liabilities⁽¹⁾	$	(5	)	$	150
Weighted average remaining lease term - operating leases, in years	5.7			5.7
Weighted average discount rate - operating leases	5.0		%	5.0		%


⁽¹⁾	The reduction in the three months ended September 30, 2019 is due to a modification of lease agreements.

Maturities of operating lease liabilities as of September 30, 2019 are as follows:



Year Ending December 31,	Operating Leases
2019⁽¹⁾	$	10
2020	39
2021	30
2022	22
2023	16
2024 and thereafter	45
Total future minimum lease payments	162
Less: imputed interest	25
Total operating lease liabilities	$	137


⁽¹⁾	Excluding the nine months ended September 30, 2019.

Finance lease liability was $3 as of September 30, 2019, the majority of which matures within a year.

Other Assets

9 Months Ended

Sep. 30, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

8. Other Assets

Other assets consist of the following:



	Successor
	September 30, 2019		December 31, 2018
Loans subject to repurchase from Ginnie Mae	$	629	$	266
Trade receivables and accrued revenues	142		145
Right-of-use assets	126		—
Goodwill	120		23
Intangible assets	93		117
Other	339		244
Total other assets	$	1,449	$	795

Loans Subject to Repurchase Right from Ginnie Mae

Forward loans are sold to Ginnie Mae in conjunction with the issuance of mortgage backed securities. The Company, as the issuer of the mortgage backed securities, has the unilateral right to repurchase any individual loan in a Ginnie Mae securitization pool if that loan meets certain criteria, including being delinquent greater than 90 days. Once the Company has the unilateral right to repurchase a delinquent loan, it has effectively regained control over the loan and recognizes these rights to the loan on its consolidated balance sheets and establishes a corresponding repurchase liability regardless of the Company’s intention to repurchase the loan. The amount as of September 30, 2019 includes $418 attributable to Pacific Union.

Trade Receivables and Accrued Revenues

Trade receivables and accrued revenues are primarily comprised of trade receivables and service fees earned but not received based upon the terms of the Company’s servicing and subservicing agreements.

Right of Use Assets

Right of use assets are recognized for operating leases as a result of adoption of ASC 842. See Note 7, Leases for additional information.

Goodwill and Intangible Assets

The table below presents changes in the carrying amount of goodwill for the nine months ended September 30, 2019.



	Successor
	Nine Months Ended September 30, 2019
Balance - beginning of period	$	23
Additions from acquisitions⁽¹⁾	42
Measurement period adjustment related to Merger⁽²⁾	55
Balance - end of period	$	120

⁽¹⁾

As discussed in Note 2, Acquisitions, the Company recorded goodwill of $40 in connection with the acquisition of Pacific Union. In addition, on February 28, 2019, the Company completed the acquisition of the Seterus mortgage servicing platform and assumed certain assets related thereto from IBM (“Seterus acquisition”). In connection with the Seterus acquisition, the Company recorded $2 in goodwill.


⁽²⁾	The Company recorded a total measurement period adjustment of $55 to goodwill in 2019 related to the acquisition of Nationstar. See further discussion in Note 2, Acquisitions.

In 2018, the Company recorded goodwill of $10 and $13 in connection with the acquisitions of Nationstar and Assurant Mortgage Solutions, respectively. See further discussion in Note 2, Acquisitions.

In 2019, the Company recorded intangible assets of $13 in connection with the acquisition of Pacific Union. In 2018, the Company recorded intangible assets of $103 and $24 in connection with the acquisitions of Nationstar and Assurant Mortgage Solutions, respectively. See further discussion in Note 2, Acquisitions.

Other

Other primarily includes derivative financial instruments, prepaid expenses, margin call deposits, real estate owned (REO), tax receivables and non-advance related accounts receivable due from investors. See Note 9, Derivative Financial Instruments, for further details on derivative financial instruments.

REO includes $8 and $10 of REO-related receivables with government insurance at September 30, 2019 and December 31, 2018, respectively, limiting loss exposure to the Company.

Derivative Financial Instruments

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

9. Derivative Financial Instruments

Derivative instruments are used as part of the overall strategy to manage exposure to market risks primarily associated with fluctuations in interest rates related to originations. Derivative instruments utilized by the Company primarily include interest rate lock commitments (“IRLCs”), loan purchase commitments (“LPCs”), forward Mortgage Backed Securities (“MBS”) purchase commitments, Eurodollar and Treasury futures and interest rate swap agreements.

Associated with the Company’s derivatives are $0.4 and $12 in collateral deposits on derivative instruments recorded in other assets on the Company’s consolidated balance sheets as of September 30, 2019 and December 31, 2018, respectively. The Company does not offset fair value amounts recognized for derivative instruments with amounts collected or deposited on derivative instruments in the consolidated balance sheets.

The following table provides the outstanding notional balances, fair values of outstanding positions and recorded gains/(losses).



		Successor
		September 30, 2019				Nine Months Ended September 30, 2019
	Expiration Dates	Outstanding Notional		Fair Value		Recorded Gains/(Losses)
Assets
Mortgage loans held for sale
Loan sale commitments	2019	$	1,508	$	35.3	$	9.4
Derivative financial instruments
IRLCs	2019	4,964		143.9		84.1
Forward MBS trades	2019	3,054		7.7		5.9
LPCs	2019	1,397		18.2		16.5
Eurodollar futures⁽¹⁾	2020-2021	6		—		—
Liabilities
Derivative financial instruments
IRLCs⁽¹⁾	2019	15		—		—
Forward MBS trades	2019	5,667		15.9		(8.0		)
LPCs	2019	547		3.1		2.7
Eurodollar futures⁽¹⁾	2019-2021	8		—		—



		Successor							Predecessor
		September 30, 2018				Two Months Ended September 30, 2018			Seven Months Ended July 31, 2018
	Expiration Dates	Outstanding Notional		Fair Value		Recorded Gains/(Losses)
Assets
Mortgage loans held for sale
Loan sale commitments	2018	$	428	$	6.9	$	(3.7	)	$	10.5
Derivative financial instruments
IRLCs	2018	1,765		57.8		(1.8		)	0.4
Forward MBS trades	2018	3,040		12.2		9.0			0.9
LPCs	2018	228		1.7		0.5			0.3
Treasury futures	2018	65		—		—			(1.8		)
Eurodollar futures⁽¹⁾	2018-2021	20		—		—			—
Liabilities
Derivative financial instruments
IRLCs⁽¹⁾	2018	3		—		—			—
Forward MBS trades	2018	413		0.5		(1.4		)	(1.0		)
LPCs	2018	320		1.5		0.9			0.1
Treasury futures⁽¹⁾	2018	53		0.1		0.1			(1.3		)
Eurodollar futures⁽¹⁾	2020-2021	6		—		—			—


⁽¹⁾	Fair values or recorded gains/(losses) of derivative instruments are less than $0.1 for the specified dates.

Indebtedness

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Indebtedness

10. Indebtedness

Notes Payable



						Successor
						September 30, 2019				December 31, 2018
Advance Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding		Collateral Pledged		Outstanding		Collateral pledged
$325 advance facility	LIBOR + 1.5% to 6.5%	August 2021	Servicing advance receivables	$	325	$	233	$	294	$	209	$	284
$250 advance facility	LIBOR + 1.5% to 2.6%	December 2020	Servicing advance receivables	250		142		173		218		255
$200 advance facility	LIBOR + 2.5%	December 2019	Servicing advance receivables	200		64		125		90		149
$125 advance facility	LIBOR + 1.5% to 7.4%	July 2020	Servicing advance receivables	125		74		84		78		89
Advance facilities principal amount						513		$	676	595		$	777
Unamortized debt issuance costs						—				—
Advance facilities, net						$	513			$	595



						Successor
						September 30, 2019					December 31, 2018
Warehouse Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding			Collateral pledged		Outstanding			Collateral pledged
$1,500 warehouse facility	LIBOR + 1.0%	June 2020	Mortgage loans or MBS	$	1,500	$	970		$	938	$	—		$	—
$1,200 warehouse facility	LIBOR + 1.7% to 3.5%	November 12, 2019	Mortgage loans or MBS	1,200		734			779		560			622
$1,000 warehouse facility	LIBOR + 1.4% to 2.3%	September 2020	Mortgage loans or MBS	1,000		521			536		137			140
$800 warehouse facility⁽¹⁾	LIBOR + 1.5% to 2.9%	April 2020	Mortgage loans or MBS	800		586			643		464			514
$750 warehouse facility	LIBOR + 1.4% to 2.8%	September 2020	Mortgage loans or MBS	750		511			524		119			122
$600 warehouse facility	LIBOR + 2.3%	February 2020	Mortgage loans or MBS	600		214			251		151			168
$500 warehouse facility	LIBOR + 1.5% to 2.8%	November 14, 2019	Mortgage loans or MBS	500		405			474		220			248
$500 warehouse facility	LIBOR + 1.5% to 3.0%	April 2020	Mortgage loans or MBS	500		391			400		187			200
$200 warehouse facility	LIBOR + 1.5%	December 2019	Mortgage loans or MBS	200		91			92		—			—
$200 warehouse facility	LIBOR + 1.2%	April 2021	Mortgage loans or MBS	200		91			94		18			19
$200 warehouse facility	LIBOR + 2.0%	January 2020	Mortgage loans or MBS	200		67			94		103			132
$200 warehouse facility	LIBOR + 1.5%	October 2020	Mortgage loans or MBS	200		21			21		—			—
$50 warehouse facility	LIBOR + 2.0% to 6.0%	April 2020	Mortgage loans or MBS	50		13			16		—			—
$40 warehouse facility	LIBOR + 3.3%	September 2020	Mortgage loans or MBS	40		27			28		—			—
$40 warehouse facility	LIBOR + 3.0%	November 29, 2019	Mortgage loans or MBS	40		1			2		1			2
$500 warehouse facility⁽²⁾	LIBOR + 2.0% to 2.3%	September 2020	Mortgage loans or MBS	—		—			—		290			299
Warehouse facilities principal amount						4,643			4,892		2,250			2,466
MSR Facility
$400 warehouse facility	LIBOR + 3.5% to 6.1%	June 2021	MSR	400		150			839		100			928
$400 warehouse facility	LIBOR + 2.3%	December 2020	MSR	400		—			193		—			226
$150 warehouse facility⁽¹⁾	LIBOR + 2.8%	April 2020	MSR	150		—			121		—			430
$50 warehouse facility	LIBOR + 2.8%	August 2020	MSR	50		10			84		—			102
						160			1,237		100			1,686
Warehouse and MSR facilities principal amount						4,803			$	6,129	2,350			$	4,152

Unamortized debt issuance costs						(1		)			(1		)
Warehouse facilities, net						$	4,802				$	2,349

Pledged Collateral:
Mortgage loans and mortgage loans held for investment						$	3,980		$	4,119	$	1,528		$	1,628
Reverse mortgage interests						663			773		722			838
MSR						160			1,237		100			1,686


⁽¹⁾	Total capacity amount for this facility is $800 of which $150 is a sublimit for MSR financing.


⁽²⁾	This facility was terminated during August 2019.

Unsecured Senior Notes

Unsecured senior notes consist of the following:



	Successor
	September 30, 2019			December 31, 2018
$950 face value, 8.125% interest rate payable semi-annually, due July 2023	$	950		$	950
$750 face value, 9.125% interest rate payable semi-annually, due July 2026	750			750
$600 face value, 6.500% interest rate payable semi-annually, due July 2021⁽¹⁾	592			592
$300 face value, 6.500% interest rate payable semi-annually, due June 2022	206			206
Unsecured senior notes principal amount	2,498			2,498
Unamortized debt issuance costs, premium and discount	(34		)	(39		)
Unsecured senior notes, net	$	2,464		$	2,459


⁽¹⁾	This note was subsequently paid down by $100 in principal balance in October 2019.

The ratios included in the indentures for the unsecured senior notes are incurrence-based compared to the customary ratio covenants that are often found in credit agreements that require a company to maintain a certain ratio. The incurrence-based covenants limit the issuer(s) and restricted subsidiaries ability to incur additional indebtedness, pay dividends, make certain investments, create liens, consolidate, merge or sell substantially all their assets or enter into certain transactions with affiliates. The indentures contain certain events of default, including (subject, in some cases, to customary cure periods and materiality thresholds) defaults based on (i) the failure to make payments under the applicable indenture when due, (ii) breach of covenants, (iii) cross-defaults to certain other indebtedness, (iv) certain bankruptcy or insolvency events, (v) material judgments and (vi) invalidity of material guarantees.

The indentures for the unsecured senior notes provide that the Company may redeem all or a portion of the notes prior to certain fixed dates by paying a make-whole premium plus accrued and unpaid interest, to the redemption dates. 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 three and nine months ended September 30, 2019, and two months ended September 30, 2018. During the two months ended September 30, 2018, the Company redeemed $658 in principal of outstanding notes. Additionally, the Company repaid $364 in principal of outstanding notes which matured during the two months ended September 30, 2018. The Predecessor repurchased $60 in principal of outstanding notes during the seven months ended July 31, 2018 resulting in a loss of $2. No notes were repurchased during the one month ended July 31, 2018.

Additionally, the indentures provide that on or before certain fixed dates, the Company may redeem (x) in the case of the New Notes, up to 40%, or (y) in the case of the other series of unsecured senior notes, up to 35% 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.

As of September 30, 2019, the expected maturities of the Company’s unsecured senior notes based on contractual maturities are as follows:



Year Ending December 31,	Amount
2019	$	—
2020	—
2021⁽¹⁾	592
2022	206
2023	950
Thereafter	750
Total unsecured senior notes principal amount	$	2,498


⁽¹⁾	This note does not include the subsequent pay down of $100 in principal balance in October 2019.

Other Nonrecourse Debt

Other nonrecourse debt consists of the following:



						Successor
						September 30, 2019		December 31, 2018
	Issue Date	Maturity Date	Class of Note	Securitized Amount		Outstanding		Outstanding
Participating interest financing⁽¹⁾	—	—	—	$	—	$	4,581	$	5,607
Securitization of nonperforming HECM loans
Trust 2017-2⁽²⁾	September 2017	September 2027	A, M1, M2	—		—		231
Trust 2018-1	March 2018	March 2028	A, M1, M2, M3, M4, M5	232		201		284
Trust 2018-2	August 2018	August 2028	A, M1, M2, M3, M4, M5	179		161		250
Trust 2018-3	November 2018	November 2028	A, M1, M2, M3, M4, M5	254		239		326
Trust 2019-1	June 2019	June 2029	A, M1, M2, M3, M4, M5	347		339		—
Nonrecourse Debt - Legacy⁽³⁾	November 2009	October 2039	A	—		—		29
Other nonrecourse debt principal amount						5,521		6,727
Unamortized debt issuance costs, premium and discount						12		68
Other nonrecourse debt, net						$	5,533	$	6,795


⁽¹⁾	Amounts represent the Company’s participating interest in GNMA HMBS securitized portfolios.


⁽²⁾	As discussed in Note 5, Reverse Mortgage Interests, Net, Trust 2017-2 was extinguished.


⁽³⁾	As discussed in Note 6, Mortgage Loans Held for Sale and Investment, Trust 2009-A, the Company’s legacy portfolio, was collapsed and the related debt was extinguished during September 2019.

Participating Interest Financing

Participating interest financing represents the obligation of HMBS pools to third-party security holders. The Company issues HMBS in connection with the securitization of borrower draws and accrues interest on HECM loans. Proceeds are received in exchange for securitized advances on the HECM loan amounts transferred to GNMA, and the Company retains a beneficial interest (referred to as a “participating interest”) in the securitization trust in which the HECM loans and HMBS obligations are held and assume both issuer and servicer responsibilities in accordance with GNMA HMBS program guidelines. Monthly cash flows generated from the HECM loans are used to service the HMBS obligations. The interest rate is based on the underlying HMBS rate with a range of 2.3% to 5.9%.

Securitizations of Nonperforming HECM Loans

From time to time, the Company securitizes its interests in non-performing reverse mortgages. The transactions provide investors with the ability to invest in a pool of both non-performing HECM loans secured by one-to-four-family residential properties and a pool of REO properties acquired through foreclosure of a deed in lieu of foreclosure in connection with HECM loans that are covered by FHA insurance. The transactions provide the Company with access to liquidity for the non-performing HECM loan portfolio, ongoing servicing fees, and potential residual returns. The transactions are structured as secured borrowings with the reverse mortgage loans included in the consolidated financial statements as reverse mortgage interests and the related financing included in other nonrecourse debt. Interest is accrued at a rate of 2.7% to 6.0% on the outstanding securitized notes and recorded as interest expense in consolidated statements of operations. The HECM securitizations are callable with expected weighted average lives of one to four years. The Company may re-securitize the previously called loans from earlier HECM securitizations to achieve a lower cost of funds.

Nonrecourse Debt – Legacy Assets

During November 2009, the Predecessor completed the securitization of approximately $222 of Asset-Backed Securities (“ABS”), which was accounted for as a secured borrowing. This structure resulted in the Predecessor and subsequently the Company carrying the securitized mortgage loans in its consolidated balance sheets and recognizing the asset-backed certificates acquired by third parties. The principal and interest on these notes are paid using the cash flows from the underlying mortgage loans, which serve as collateral for the debt. The interest rate paid on the outstanding securities is 7.5%, which is subject to an available funds cap. The trust was called and related debt was extinguished during September 2019. See Note 6, Mortgage Loans Held for Sale and Investment for further information. The total outstanding principal balance on the underlying mortgage loans serving as collateral for the debt was approximately $160 at December 31, 2018. The UPB on the outstanding loans was $29 at December 31, 2018 and the carrying value of the nonrecourse debt was $29.

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, 2019. The most restrictive tangible net worth covenant required the Company to maintain a minimum tangible net worth of at least $682.

Payables and Other Liabilities

9 Months Ended

Sep. 30, 2019

Payables and Accruals [Abstract]

Payables and Other Liabilities

11. Payables and Other Liabilities

Payables and other liabilities consist of the following:



	Successor
	September 30, 2019		December 31, 2018
Loans subject to repurchase from Ginnie Mae	$	629	$	266
Payables to servicing and subservicing investors	523		494
Operating lease liability	137		—
Payables to GSEs and securitized trusts	126		105
MSR purchases payable including advances	21		182
Other liabilities	566		496
Total payables and other liabilities	$	2,002	$	1,543

Loans Subject to Repurchase from Ginnie Mae

See Note 8, Other Assets for a description of assets and liabilities related to loans subject to repurchase from Ginnie Mae. The amount as of September 30, 2019 includes $418 attributable to Pacific Union.

Payables to Servicing and Subservicing Investors and Payables to GSEs and Securitized Trusts

Payables to servicing and subservicing investors, GSEs and securitized trusts represent amounts due to investors, GSEs and securitized trusts in connection with loans serviced that are paid from collections of the underlying loans, insurance proceeds or proceeds from property disposal.

Operating Lease Liabilities

Operating lease liabilities are recognized as a result of adoption of ASC 842 as of January 1, 2019. See Note 7, Leases for additional information.

MSR Purchases Payable Including Advances

MSR purchases payable including advances represent the amounts owed to the seller in connection with the purchase of MSRs.

Other Liabilities

Other liabilities primarily include accrued bonus and payroll, accrued interest, accrued legal expenses, payable to insurance carriers and insurance cancellation reserves, derivative financial instruments, repurchase reserves, accounts payable and other accrued liabilities. Payables to insurance carriers and insurance cancellation reserves consist of insurance premiums received from borrower payments awaiting disbursement to the insurance carrier and/or amounts due to third-party investors on liquidated loans. See Note 9, Derivative Financial Instruments, for further details on derivative financial instruments.

The following table sets forth the activities of repurchase reserves.



	Successor									Predecessor
Repurchase Reserves	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018			One Month Ended July 31, 2018		Seven Months Ended July 31, 2018
Balance - beginning of period	$	23		$	8		$	9		$	9	$	9
Provisions⁽¹⁾	5			21			1			—		3
Releases	(4		)	(5		)	(1		)	—		(3		)
Balance - end of period	$	24		$	24		$	9		$	9	$	9


⁽¹⁾	Provision for the three and nine months ended September 30, 2019 is primarily due to repurchase reserve liabilities assumed in connection with the acquisition of Pacific Union. See Note 2, Acquisitions for additional information.

The provision for repurchases represents an estimate of losses to be incurred on the repurchase of loans or indemnification of purchaser’s losses related to forward loans. Certain sale contracts and GSE standards require the Predecessor and, subsequently, the Company to repurchase a loan or indemnify the purchaser or insurer for losses if a borrower fails to make initial loan payments or if the accompanying mortgage loan fails to meet certain customary representations and warranties with respect to underwriting standards.

In the event of a breach of the representations and warranties, the Predecessor and subsequently the Company may be required to either repurchase the loan or indemnify the purchaser for losses it sustains on the loan. In addition, an investor may request that the Predecessor and subsequently the Company refund a portion of the premium paid on the sale of mortgage loans if a loan is prepaid within a certain amount of time from the date of sale. The Predecessor and the Company record a reserve for estimated losses associated with loan repurchases, purchaser indemnification and premium refunds. The provision for repurchase losses is charged against net gain on mortgage loans held for sale. A release of repurchase reserves is recorded when the Predecessor and Company’s assessment reveals that previously recorded reserves are no longer needed.

A selling representation and warranty framework was introduced by the GSEs in 2013 and enhanced in 2014 that helps address concerns of loan sellers with respect to loan repurchase risk. Under the framework, a GSE will not exercise its remedies, including the issuance of repurchase requests, for breaches of certain selling representations and warranties if a mortgage meets certain eligibility requirements. For loans sold to GSEs on or after January 1, 2013, repurchase risk for Home Affordable Refinance Program (“HARP”) loans is lowered if the borrower stays current on the loan for 12 months and representation and warranty risks are limited for non-HARP loans that stay current for 36 months.

The Company regularly evaluates the adequacy of repurchase reserves based on trends in repurchase and indemnification requests, actual loss experience, settlement negotiation, estimated future loss exposure and other relevant factors including economic conditions. Current loss rates have significantly declined attributable to stronger underwriting standards and due to the falloff of loans underwritten prior to the mortgage loan crisis period prior to 2008. The Company believes its reserve balance as of September 30, 2019 is sufficient to cover loss exposure associated with repurchase contingencies.

Securitizations and Financings

9 Months Ended

Sep. 30, 2019

Variable Interest Entities and Securitizations [Abstract]

Securitizations and Financings

12. Securitizations and Financings

Variable Interest Entities (VIE)

In the normal course of business, the Company enters into various types of on- and off-balance sheet transactions with special purpose entities (“SPEs”) determined to be VIEs, which primarily consist of securitization trusts established for a limited purpose. Generally, these SPEs are formed for the purpose of securitization transactions in which the Company transfers assets to an SPE, which then issues to investors various forms of debt obligations supported by those assets.

The Company has determined that the SPEs created in connection with the (i) Nationstar Mortgage Advance Receivables Trust (NMART), (ii) Nationstar Agency Advance Financing Trust (NAAFT) and (iii) Nationstar Advance Agency Receivables Trust (NAART) should be consolidated as the Company is the primary beneficiary of each of these entities. Also, the Company consolidated four reverse mortgage SPEs as it is the primary beneficiary of each of these entities. These SPEs include the Nationstar HECM Loan Trusts.

A summary of the assets and liabilities of the Company’s transactions with VIEs included in the Company’s consolidated financial statements is presented below.



	Successor
	September 30, 2019				December 31, 2018
	Transfers Accounted for as Secured Borrowings		Reverse Secured Borrowings		Transfers Accounted for as Secured Borrowings		Reverse Secured Borrowings
Assets
Restricted cash	$	70	$	46	$	70	$	63
Reverse mortgage interests, net⁽¹⁾	—		5,471		—		6,728
Advances and other receivables, net	552		—		628		—
Mortgage loans held for investment, net⁽²⁾	—		—		118		—
Total assets	$	622	$	5,517	$	816	$	6,791

Liabilities
Advance facilities⁽³⁾	$	449	$	—	$	505	$	—
Payables and other liabilities	1		1		1		1
Participating interest financing	—		4,581		—		5,607
HECM Securitizations (HMBS)
Trust 2017-2	—		—		—		231
Trust 2018-1	—		201		—		284
Trust 2018-2	—		161		—		250
Trust 2018-3	—		239		—		326
Trust 2019-1	—		339		—		—
Nonrecourse debt – legacy assets⁽²⁾	—		—		29		—
Total liabilities	$	450	$	5,522	$	535	$	6,699


⁽¹⁾	Amounts include net purchase discount of $49 and $42 as of September 30, 2019 and December 31, 2018, respectively.


⁽²⁾	The Nationstar Home Equity Loan Trust 2009-A was collapsed in September 2019. Refer to Mortgage Loans Held for Investment in Note 6, Mortgage Loans Held for Sale and Investment, for additional information.


⁽³⁾	Amounts include the Nationstar agency advance financing facility and notes payable recorded by the Nationstar Mortgage Advance Receivable Trust, and the Nationstar Agency Advance Receivables Trust. Refer to Notes Payable in Note 10, Indebtedness, for additional information.

The following table shows a summary of the outstanding collateral and certificate balances for securitization trusts for which the Company was the transferor, including any retained beneficial interests and MSRs, that were not consolidated by the Company.



	Successor
	September 30, 2019		December 31, 2018
Total collateral balances - UPB	$	1,553	$	1,873
Total certificate balances	$	1,562	$	1,817

The Company has not retained any variable interests in the unconsolidated securitization trusts that were outstanding as of September 30, 2019 and December 31, 2018 and therefore does not have a significant maximum exposure to loss related to these unconsolidated VIEs.

A summary of mortgage loans transferred by the Company to unconsolidated securitization trusts that are 60 days or more past due are presented below.



	Successor
Principal Amount of Loans 60 Days or More Past Due	September 30, 2019		December 31, 2018
Unconsolidated securitization trusts	$	204	$	285

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2019
Equity [Abstract]
Stockholders' Equity	13. Stockholders' Equity Upon the consummation of the Merger, the Company assumed and adopted the Nationstar Mortgage Holdings Inc. Second Amended and Restated 2012 Incentive Compensation Plan (“2012 Plan”), as may be amended, that offers equity-based awards to certain key employees of the Company, consultants, and non-employee directors. Additionally, on May 16, 2019, the Company’s stockholders approved the Mr. Cooper Group Inc. 2019 Omnibus Incentive Plan (the “2019 Plan”) which had previously been approved by the Company’s Board of Directors. The equity-based awards under the 2012 Plan and the 2019 Plan include restricted stock units (“RSUs”) granted to employees of the Company, consultants, and non-employee directors. These awards are valued at the fair market value of the Company’s or the Predecessor’s common stock on the grant date as defined in the 2012 Plan and the 2019 Plan. During the nine months ended September 30, 2019 and two months ended September 30, 2018, certain key employees of the Company, consultants, and non-employee directors of the Company were granted 2,525 thousand and 73 thousand RSUs, respectively. During the seven months ended July 31, 2018, certain employees of the Predecessor were granted 3,297 thousand RSUs. The stock awards for employees generally vest in installments of 33.3%, 33.3% and 33.4% respectively on each of the first three anniversaries of the awards, provided that (i) the participant remains continuously employed with the Company during that time or (ii) the participant’s employment has terminated by reason of retirement. The stock awards for non-employee directors generally vest the earlier of (a) the first anniversary of the grant date or (b) the date of the next annual stockholders meeting following the grant date. In addition, upon death or disability, the unvested shares of an award will vest. The Company recorded $5 and $14 of expenses related to equity-based awards during the three and nine months ended September 30, 2019, respectively, and recorded $2 during the two months ended September 30, 2018. In addition, the Predecessor recorded $9 and $17 of expenses related to share-based awards during the one and seven months ended July 31, 2018, respectively, including $7 expenses recognized due to a one-time accelerated vesting of equity awards in connection with the Merger.

Earnings Per Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share

14. Earnings Per Share

The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings. The Series A Preferred Stock is considered participating securities because it has dividend rights determined on an as-converted basis in the event of Company’s declaration of a dividend or distribution for common shares.

The following table sets forth the computation of basic and diluted net (loss) income per common share (amounts in millions, except per share amounts).



	Successor							Predecessor
	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018		One Month Ended July 31, 2018			Seven Months Ended July 31, 2018
Net income (loss) attributable to Successor/Predecessor	$	84	$	(189	)	$	1,020	$	(64	)	$	154
Less: Undistributed earnings attributable to participating stockholders	1		—			9		—			—
Net income (loss) attributable to common stockholders	$	83	$	(189	)	$	1,011	$	(64	)	$	154

Net income (loss) per common share attributable to Successor/Predecessor:
Basic	$	0.91	$	(2.08	)	$	11.13	$	(0.65	)	$	1.57
Diluted	$	0.90	$	(2.08	)	$	10.99	$	(0.65	)	$	1.55

Weighted average shares of common stock outstanding (in thousands):
Basic	91,080		91,012			90,808		98,164			98,046
Dilutive effect of stock awards	117		—			345		—			1,091
Dilutive effect of participating securities	839		—			839		—			—
Diluted	92,036		91,012			91,992		98,164			99,137

Income Taxes

9 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

15. Income Taxes

The components of income tax (benefit) expense were as follows:



	Successor									Predecessor
	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018			One Month Ended July 31, 2018			Seven Months Ended July 31, 2018
Income (loss) before income tax expense (benefit)	$	107		$	(243	)	$	41		$	(83	)	$	202

Income tax expense (benefit)	$	24		$	(52	)	$	(979	)	$	(19	)	$	48

Effective tax rate⁽¹⁾	22.3		%	21.5		%	(2,377.1		)%	23.1		%	23.8		%


⁽¹⁾	Effective tax rate is calculated using whole numbers.

For the three and nine months ended September 30, 2019, the effective tax rate differed from the statutory federal rate of 21% primarily due to permanent differences including executive compensation disallowed under Internal Revenue Code Section 162(m) and nondeductible meals and entertainment expenses, as well as other recurring items such as the state tax benefit.

For the two months ended September 30, 2018, the effective tax rate differed from the statutory federal rate of 21% primarily due to the reversal of the valuation allowance associated with the net operating loss (“NOL”) carryforwards of WMIH, permanent differences including executive compensation disallowed under Internal Revenue Code Section 162(m) and nondeductible meals and entertainment expenses.

For the one and seven months ended July 31, 2018 in the predecessor period, the effective tax rate differed slightly from the statutory federal rate of 21% primarily due to state tax provision, adjustments in connection with the remediation of the Predecessor’s uncertain tax position and various permanent differences, including nondeductible transaction costs in connection with the Merger.

Fair Value Measurements

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

16. Fair Value Measurements

Fair value is a market-based measurement, not an entity-specific measurement, and should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, a three-tiered fair value hierarchy has been established based on the level of observable inputs used in the measurement of fair value (e.g., Level 1 representing quoted prices for identical assets or liabilities in an active market; Level 2 representing values using observable inputs other than quoted prices included within Level 1; and Level 3 representing estimated values based on significant unobservable inputs).

The following describes the methods and assumptions used by the Company in estimating fair values:

Cash and Cash Equivalents, Restricted Cash (Level 1) – The carrying amount reported in the consolidated balance sheets approximates fair value.

Mortgage Loans Held for Sale (Level 2) – The Company originates mortgage loans in the U.S. that it intends to sell into Fannie Mae, Freddie Mac and Ginnie Mae (collectively, the “Agencies”) MBS. Additionally, the Company holds mortgage loans that it intends to sell into the secondary markets via whole loan sales or securitizations. The Company measures newly originated prime residential mortgage loans held for sale at fair value.

Mortgage loans held for sale are typically pooled together and sold into certain exit markets, depending upon underlying attributes of the loan, such as agency eligibility, product type, interest rate and credit quality. Mortgage loans held for sale are valued on a recurring basis using a market approach by utilizing either: (i) the fair value of securities backed by similar mortgage loans, adjusted for certain factors to approximate the fair value of a whole mortgage loan, including the value attributable to mortgage servicing and credit risk, (ii) current commitments to purchase loans or (iii) recent observable market trades for similar loans, adjusted for credit risk and other individual loan characteristics. As these prices are derived from market observable inputs, the Company classifies these valuations as Level 2 in the fair value disclosures.

The Company may acquire mortgage loans held for sale from various securitization trusts for which it acts as servicer through the exercise of various clean-up call options as permitted through the respective pooling and servicing agreements. The Company has elected to account for these loans at the lower of cost or market. The Company classifies these valuations as Level 2 in the fair value disclosures.

The Company may also purchase loans out of a Ginnie Mae securitization pool if that loan meets certain criteria, including being delinquent greater than 90 days. The Company has elected to carry these loans at fair value. See Note 6, Mortgage Loans Held for Sale and Investment, for more information.

Mortgage Loans Held for Investment (Level 3) – Mortgage loans held for investment primarily consist of nonconforming or subprime mortgage loans that were transferred in 2009 from mortgage loans held for sale at fair value. The Company intends to hold these loans to their maturities. The Company determines the fair value of loans held for investment, on a recurring basis, based on various underlying attributes such as market participants’ views, loan delinquency, recent observable loan pricing and sales for similar loans, individual loan characteristics and internal market evaluation. These internal market evaluations require the use of judgment by the Company and can have a significant impact on the determination of the loan’s fair value. As these fair values are derived from internally developed valuation models, using observable inputs, the Company classifies these valuations as Level 3 in the fair value disclosures. See Note 6, Mortgage Loans Held for Sale and Investment, for more information. As of September 30, 2019, the Company has no financial instruments classified as mortgage loans held for investment.

Mortgage Servicing Rights – Fair Value (Level 3) – The Company estimates the fair value of its forward MSRs on a recurring basis using a process that combines the use of a discounted cash flow model and analysis of current market data to arrive at an estimate of fair value. The cash flow assumptions and prepayment assumptions used in the model are based on various factors, with the key assumptions being mortgage prepayment speeds and discount rates. These assumptions are generated and applied based on collateral stratifications including product type, remittance type, geography, delinquency and coupon dispersion. These assumptions require the use of judgment by the Company and can have a significant impact on the fair value of the MSRs. Quarterly, management obtains third-party valuations to assess the reasonableness of the fair value calculations provided by the internal cash flow model. Because of the nature of the valuation inputs, the Company classifies these valuations as Level 3 in the fair value disclosures. See Note 3, Mortgage Servicing Rights and Related Liabilities, for more information.

Advances and Other Receivables, Net (Level 3) - Advances and other receivables, net are valued at their net realizable value after taking into consideration the reserves. Advances have no stated maturity. Their net realizable value approximates fair value as the net present value based on discounted cash flow is not materially different from the net realizable value. See Note 4, Advances and Other Receivables, Net for more information.

Reverse Mortgage Interests, Net (Level 3) – The Company’s reverse mortgage interests are primarily comprised of HECM loans that are insured by FHA and guaranteed by Ginnie Mae upon securitization. Quarterly, the Company estimates fair value using discounted cash flows, obtained from a third-party and supplemented with historical loss experience on similar assets, with the discount rate approximating that of similar financial instruments, as observed from recent trades within the HMBS. Key assumptions within the model are based on market participant benchmarks and include discount rates, cost to service, weighted average life of the portfolio, and estimated participating income. Discounted cash flows are applied based on collateral stratifications and include loan rate type, loan status (active vs. inactive), and securitization. Prices are also influenced from both internal models and other observable inputs. The Company determined fair value for all loans based on the applicable tranches established during the Merger valuation. Tranches are segregated based on participation percentages, original loan status as of the Merger date, and interest rate types, and loan status (active vs inactive). Prices are also influenced from both internal models and other observable inputs, including applicable forward interest rate curves. Additionally, historical loss factors are considered within the overall valuation. Because of the unobservable nature of the valuation inputs, the Company classifies these valuations as Level 3 in the fair value disclosures. See Note 5, Reverse Mortgage Interests, Net for more information.

Derivative Financial Instruments (Level 2) – The Company enters into a variety of derivative financial instruments as part of its hedging strategy and measures these instruments at fair value on a recurring basis in the consolidated balance sheets. These derivatives are exchange-traded or traded within highly active dealer markets. In order to determine the fair value of these instruments, the Company utilizes the exchange price or dealer market price for the particular derivative contract; therefore, these contracts are classified as Level 2. In addition, the Company enters into IRLCs and LPCs with prospective borrowers and other loan originators. These commitments are carried at fair value based on the fair value of underlying mortgage loans which are based on observable market data. The Company adjusts the outstanding IRLCs with prospective borrowers based on an expectation that it will be exercised and the loan will be funded. IRLCs and LPCs are recorded in derivative financial instruments in the consolidated balance sheets. These commitments are classified as Level 2 in the fair value disclosures, as the valuations are based on market observable inputs. The Company has entered into Eurodollar futures contracts as part of its hedging strategy. The futures contracts are measured at fair value on a recurring basis and classified as Level 2 in the fair value disclosures as the valuation is based on market observable data. Derivative financial instruments are recorded in other assets and payables and other liabilities within the consolidated balance sheets. See Note 9, Derivative Financial Instruments, for more information.

Advance Facilities and Warehouse Facilities (Level 2) – As the underlying warehouse and advance finance facilities bear interest at a rate that is periodically adjusted based on a market index, the carrying amount reported on the consolidated balance sheets approximates fair value. See Note 10, Indebtedness, for more information.

Unsecured Senior Notes (Level 1) – The fair value of unsecured senior notes, which are carried at amortized cost, is based on quoted market prices and is considered Level 1 from the market observable inputs used to determine fair value. See Note 10, Indebtedness, for more information.

Nonrecourse Debt – Legacy Assets (Level 3) – The Company estimates fair value based on the present value of future expected discounted cash flows with the discount rate approximating current market value for similar financial instruments. These prices are derived from a combination of internally developed valuation models and quoted market prices, and are classified as Level 3. See Note 10, Indebtedness, for more information.

Excess Spread Financing (Level 3) – The Company estimates fair value on a recurring basis based on the present value of future expected discounted cash flows with the discount rate approximating current market value for similar financial instruments. The cash flow assumptions and prepayment assumptions used in the model are based on various factors, with the key assumptions being mortgage prepayment speeds, average life, recapture rates and discount rate. As these prices are derived from a combination of internally developed valuation models and quoted market prices based on the value of the underlying MSRs, the Company classifies these valuations as Level 3 in the fair value disclosures. Excess spread financing is recorded in MSR related liabilities within the consolidated balance sheets. See Note 3, Mortgage Servicing Rights and Related Liabilities, for more information.

Mortgage Servicing Rights Financing Liability (Level 3) - The Company estimates fair value on a recurring basis based on the present value of future expected discounted cash flows with the discount rate approximating current market value for similar financial instruments. The cash flow assumptions and prepayment assumptions used in the model are based on various factors, with the key assumptions being advance financing rates and annual advance recovery rates. As these assumptions are derived from internally developed valuation models based on the value of the underlying MSRs, the Company classifies these valuations as Level 3 in the fair value disclosures. Mortgage servicing rights financing liability is recorded in MSR related liabilities within the consolidated balance sheets. See Note 3, Mortgage Servicing Rights and Related Liabilities, for more information.

Participating Interest Financing (Level 3) – The Company estimates fair value based on the present value of future expected discounted cash flows with the discount rate approximating that of similar financial instruments. As the prices are derived from both internal models and other observable inputs, the Company classifies these valuations as Level 3 in the fair value disclosures. Participating interest financing is recorded in other nonrecourse debt within the consolidated balance sheets. See Note 5, Reverse Mortgage Interests, Net, and Note 10, Indebtedness, for more information.

HECM Securitizations (Level 3) – The Company estimates fair value using a market approach by utilizing the fair value of executed HECM securitizations. Since the executed HECM securitizations are private placements, the Company classifies these valuations as Level 3 in the fair value disclosures. HECM securitizations are recorded in other nonrecourse debt within the consolidated balance sheets. See Note 10, Indebtedness for more information.

The following table presents the estimated carrying amount and fair value of the Company’s financial instruments and other assets and liabilities measured at fair value on a recurring basis.



	Successor
	September 30, 2019
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans held for sale	$	4,267.2	$	—	$	4,267.2	$	—
Forward mortgage servicing rights	3,338.5		—		—		3,338.5
Derivative financial instruments
IRLCs	143.9		—		143.9		—
Forward MBS trades	7.7		—		7.7		—
LPCs	18.2		—		18.2		—
Eurodollar futures⁽¹⁾	—		—		—		—
Total assets	$	7,775.5	$	—	$	4,437.0	$	3,338.5
Liabilities
Derivative financial instruments
IRLCs⁽¹⁾	$	—	$	—	$	—	$	—
Forward MBS trades	15.9		—		15.9		—
LPCs	3.1		—		3.1		—
Eurodollar futures⁽¹⁾	—		—		—		—
Mortgage servicing rights financing	46.9		—		—		46.9
Excess spread financing	1,280.8		—		—		1,280.8
Total liabilities	$	1,346.7	$	—	$	19.0	$	1,327.7



	Successor
	December 31, 2018
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans held for sale	$	1,630.8	$	—	$	1,630.8	$	—
Mortgage loans held for investment	119.1		—		—		119.1
Forward mortgage servicing rights	3,665.4		—		—		3,665.4
Derivative financial instruments
IRLCs	47.6		—		47.6		—
Forward MBS trades	0.1		—		0.1		—
LPCs	1.7		—		1.7		—
Eurodollar futures⁽¹⁾	—		—		—		—
Total assets	$	5,464.7	$	—	$	1,680.2	$	3,784.5
Liabilities
Derivative financial instruments
Forward MBS trades	$	19.3	$	—	$	19.3	$	—
LPCs	0.4		—		0.4		—
Eurodollar futures⁽¹⁾	—		—		—		—
Mortgage servicing rights financing	31.7		—		—		31.7
Excess spread financing	1,184.4		—		—		1,184.4
Total liabilities	$	1,235.8	$	—	$	19.7	$	1,216.1


⁽¹⁾	Fair values of the underlying assets and liabilities are less than $0.1 for the specified dates.

The table below presents a reconciliation for all of the Company and Predecessor’s Level 3 assets and liabilities measured at fair value on a recurring basis.



	Successor
	Assets						Liabilities
Nine Months Ended September 30, 2019	Mortgage servicing rights			Mortgage loans held for investment			Excess spread financing			Mortgage servicing rights financing
Balance - beginning of period	$	3,665		$	119		$	1,184		$	32
Total gains or losses included in earnings	(1,039		)	3			(190		)	15
Payments received from borrowers	—			(11		)	—			—
Purchases, issuances, sales, repayments and settlements
Purchases	732			—			—			—
Issuances	298			—			469			—
Sales	(317		)	(94		)	—			—
Repayments	—			—			(19		)	—
Settlements	—			—			(163		)	—
Transfers to mortgage loans held for sale	—			(12		)	—			—
Transfers to real estate owned	—			(5		)	—			—
Balance - end of period	$	3,339		$	—		$	1,281		$	47



	Successor
	Assets						Liabilities
Two Months Ended September 30, 2018	Mortgage servicing rights			Mortgage loans held for investment			Excess spread financing			Mortgage servicing rights financing
Balance - beginning of period	$	3,413		$	125		$	1,039		$	26
Total gains or losses included in earnings	20			(1		)	26			—
Payments received from borrowers	—			(2		)	—			—
Purchases, issuances, sales, repayments and settlements
Purchases	72			—			—			—
Issuances	43			—			84			—
Sales	(63		)	—			—			—
Repayments	—			—			(21		)	—
Settlements	—			—			(31		)	—
Balance - end of period	$	3,485		$	122		$	1,097		$	26



	Predecessor
	Assets		Liabilities
Seven Months Ended July 31, 2018	Mortgage servicing rights		Excess spread financing			Mortgage servicing rights financing
Balance - beginning of period	$	2,937	$	996		$	10
Total gains or losses included in earnings	166		81			16
Purchases, issuances, sales, repayments and settlements
Purchases	144		—			—
Issuances	162		70			—
Sales	4		—			—
Repayments	—		(3		)	—
Settlements	—		(105		)	—
Balance - end of period	$	3,413	$	1,039		$	26

No transfers were made into Level 3 fair value assets and liabilities for the Company for the nine months ended September 30, 2019, two months ended September 30, 2018, and the Predecessor for the seven months ended July 31, 2018. During the nine months ended September 30, 2019, $12 was transferred from mortgage loans held for investment, a Level 3 fair value asset, to mortgage loans held for sale, a Level 2 fair value asset, in connection with the collapse of Trust 2009-A, the Company’s legacy portfolio, and sale of the loans held in the trust. Refer to Note 6, Mortgage Loans Held for Sale and Investment for further information. No transfers were made out of Level 3 fair value assets and liabilities for the Company for the two months ended September 30, 2018 and the Predecessor for the seven months ended July 31, 2018.

The table below presents a summary of the estimated carrying amount and fair value of the Company’s financial instruments.



	Successor
	September 30, 2019
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	371	$	371	$	—	$	—
Restricted cash	271		271		—		—
Advances and other receivables, net	967		—		—		967
Reverse mortgage interests, net	6,662		—		—		6,726
Mortgage loans held for sale	4,267		—		4,267		—
Derivative financial instruments	170		—		170		—
Financial liabilities
Unsecured senior notes	2,464		2,592		—		—
Advance facilities	513		—		513		—
Warehouse facilities	4,802		—		4,802		—
Mortgage servicing rights financing liability	47		—		—		47
Excess spread financing	1,281		—		—		1,281
Derivative financial instruments	19		—		19		—
Participating interest financing	4,593		—		—		4,590
HECM Securitization (HMBS)
Trust 2018-1	201		—		—		201
Trust 2018-2	161		—		—		161
Trust 2018-3	239		—		—		239
Trust 2019-1	339		—		—		339



	Successor
	December 31, 2018
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	242	$	242	$	—	$	—
Restricted cash	319		319		—		—
Advances and other receivables, net	1,194		—		—		1,194
Reverse mortgage interests, net	7,934		—		—		7,934
Mortgage loans held for sale	1,631		—		1,631		—
Mortgage loans held for investment	119		—		—		119
Derivative financial instruments	49		—		49		—
Financial liabilities
Unsecured senior notes	2,459		2,451		—		—
Advance facilities	595		—		595		—
Warehouse facilities	2,349		—		2,349		—
Mortgage servicing rights financing liability	32		—		—		32
Excess spread financing	1,184		—		—		1,184
Derivative financial instruments	20		—		20		—
Participating interest financing	5,675		—		—		5,672
HECM Securitization (HMBS)
Trust 2017-2	231		—		—		230
Trust 2018-1	284		—		—		284
Trust 2018-2	250		—		—		249
Trust 2018-3	326		—		—		326
Nonrecourse debt - legacy assets	29		—		—		28

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Capital Requirements	9 Months Ended
Capital Requirements	Sep. 30, 2019
Mortgage Banking [Abstract]
Capital Requirements	17. Capital Requirements Certain of the Company’s secondary market investors require minimum net worth (“capital”) requirements, as specified in the respective selling and servicing agreements. In addition, these investors may require capital ratios in excess of the stated requirements to approve large servicing transfers. To the extent that these requirements are not met, the Company’s secondary market investors may utilize a range of remedies ranging from sanctions, suspension or ultimately termination of the Company’s selling and servicing agreements, which would prohibit the Company from further originating or securitizing these specific types of mortgage loans or being an approved servicer. Among the Company’s various capital requirements related to its outstanding selling and servicing agreements, which are measured based on the Company’s operating subsidiary, Nationstar Mortgage LLC, the most restrictive of these requires the Company to maintain a minimum adjusted net worth of $823. As of September 30, 2019, the Company was in compliance with its selling and servicing capital requirements.

- Definition

The entire disclosure for a mortgage banking entity related to capital requirements imposed by secondary market investors or state imposed regulatory mandates. The disclosure may include: (1) a description of the minimum net worth requirements related to (a) secondary market investors and (b) state-imposed regulatory mandates; (2) actual or possible material effects of noncompliance; (3) whether the entity is in compliance with the regulatory capital requirements, including (a) the entity's required and actual net worth amounts, (b) factors that may significantly affect adequacy of net worth such as potentially volatile components of capital, qualitative factors, or regulatory mandates; and (4) possible affects of noncompliance on amounts and disclosures in the notes to the financial statements. Servicers with net worth requirements from multiple sources may disclose (1) significant servicing covenants with secondary market investors with commonly defined servicing requirements (2) any other secondary market investor where violation of the requirement would have a significant adverse effect and (3) the most restrictive third party agreement, if not included above. The disclosure may also include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time.

+ References + Details

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. Commitments and Contingencies Litigation and Regulatory The Company and its subsidiaries are routinely and currently involved in a significant number of legal proceedings, including, but not limited to, judicial, arbitration, regulatory and governmental proceedings related to matters that arise in connection with the conduct of the Company’s business. The legal proceedings are at varying stages of adjudication, arbitration or investigation and are generally based on alleged violations of consumer protection, securities, employment, contract, tort, common law fraud and other numerous laws, including, without limitation, the Equal Credit Opportunity Act, Fair Debt Collection Practices Act, Fair Credit Reporting Act, Real Estate Settlement Procedures Act, National Housing Act, Homeowners Protection Act, Service Member’s Civil Relief Act, Telephone Consumer Protection Act, Truth in Lending Act, Financial Institutions Reform, Recovery, and Enforcement Act of 1989, unfair, deceptive or abusive acts or practices in violation of the Dodd-Frank Act, the Securities Act of 1933, the Securities Exchange Act of 1934, the Home Mortgage Disclosure Act, Title 11 of the United States Code (aka the “Bankruptcy Code”), False Claims Act and Making Home Affordable loan modification programs. In addition, along with others in its industry, the Company is subject to repurchase and indemnification claims and may continue to receive claims in the future, regarding alleged breaches of representations and warranties relating to the sale of mortgage loans, the placement of mortgage loans into securitization trusts or the servicing of mortgage loans securitizations. The Company is also subject to legal actions or proceedings related to loss sharing and indemnification provisions of its various acquisitions. Certain of the pending or threatened legal proceedings include claims for substantial compensatory, punitive and/or statutory damages or claims for an indeterminate amount of damages. The Company’s business is also subject to extensive examinations, investigations and reviews by various federal, state and local governmental, regulatory and enforcement agencies. The Company has historically had a number of open investigations with these agencies and that trend continues. The Company is currently the subject of various governmental or regulatory investigations, subpoenas, examinations and inquiries related to its residential loan servicing and origination practices, bankruptcy and collections practices, its financial reporting and other aspects of its businesses. These matters include investigations by the Consumer Financial Protection Bureau (the “CFPB”), the Securities and Exchange Commission, the Executive Office of the United States Trustees, the Department of Justice, the Office of the Special Inspector General for the Troubled Asset Relief Program, the U.S. Department of Housing and Urban Development, the multi-state committee of mortgage banking regulators and various State Attorneys General. These specific matters and other pending or potential future investigations, subpoenas, examinations or inquiries may lead to administrative, civil or criminal proceedings or settlements, and possibly result in remedies including fines, penalties, restitution, or alterations in the Company’s business practices, and in additional expenses and collateral costs. Responding to these matters requires the Company to devote substantial resources, resulting in higher costs and lower net cash flows. For example, the Company continues to progress towards resolution of certain legacy regulatory matters involving examination findings for alleged violations of certain laws related to the Company’s business practices. The Company has been in discussions with the multi-state committee of mortgage banking regulators and various State Attorneys General concerning a potential resolution of their investigations. The Company is continuing to cooperate with all parties. In connection with these discussions, the Company previously recorded an accrual. These discussions may not result in a settlement of the matter; furthermore, any such settlement may exceed the amount accrued as of September 30, 2019. Moreover, if the discussions do not result in a settlement, the regulators and State Attorneys General may seek to exercise their enforcement authority through litigation or other proceedings and seek injunctive relief, damages, restitution and civil monetary penalties, which could have a material adverse effect on the Company’s business, reputation, financial condition and results of operations. Further, on April 24, 2018, the CFPB notified Nationstar that, in accordance with the CFPB’s discretionary Notice and Opportunity to Respond and Advise (“NORA”) process, the CFPB’s Office of Enforcement is considering whether to recommend that the CFPB take enforcement action against the Company, alleging violations of the Real Estate Settlement Procedures Act, the Consumer Financial Protection Act, and the Homeowners Protection Act, which stems from a 2014 examination. The purpose of a NORA letter is to provide a party being investigated an opportunity to present its position to the CFPB before an enforcement action may be recommended or commenced. The CFPB may seek to exercise its enforcement authority through settlement, administrative proceedings or litigation and seek injunctive relief, damages, restitution and civil monetary penalties, which could have a material adverse effect on the Company’s business, reputation, financial condition and results of operations. The Company has not recorded an accrual related to this matter as of September 30, 2019 because it does not believe that the possible loss or range of loss arising from any such action is estimable. The Company is continuing to cooperate with the CFPB. Similarly, the Company is in discussions with the Executive Office of the United States Trustees concerning certain legacy issues with respect to bankruptcy servicing practices. In connection with these discussions, the Company is undertaking certain voluntary remediation activities with respect to loans at issue in these matters. While the Company and the Executive Office of the United States Trustees are engaged in discussions to potentially resolve these issues, there is no guarantee a resolution will occur. Moreover, if the discussions do not result in a resolution, the Executive Office of the United States Trustees may seek redress through litigation or other proceedings and seek injunctive relief, damages and restitution in addition to the remediation activities, which could have a material adverse effect on the Company’s business, reputation, financial condition and results of operations. However, the Company believes it is premature to predict the potential outcome or to estimate the financial impact to the Company in connection with any potential action or settlement arising from this matter, including the voluntary remediation activities undertaken and to be undertaken by the Company. The Company is a defendant in a proceeding filed on January 2, 2018 in the U.S. District Court for the Northern District of California under the caption Collateral Analytics LLC v. Nationstar Mortgage LLC et al. The plaintiff alleges that the Company misappropriated plaintiff’s intellectual property for the purpose of replicating plaintiff’s products. The case raises federal and state law claims for misappropriation of trade secrets and breach of contract and seeks an award of actual damages, unjust enrichment, lost profits and/or a reasonable royalty, exemplary damages and injunctive relief preventing further misuse or disclosure of plaintiff’s intellectual property. On October 23, 2019, the Company reached an agreement in principle to settle this matter. The Company is also a defendant in a proceeding filed on October 23, 2015 in the U.S. District Court for the Central District of California under the caption Alfred Zaklit and Jessy Zaklit, individually and on behalf of all others similarly situated v. Nationstar Mortgage LLC et al. The plaintiff alleges that the Company improperly recorded telephone calls without the knowledge or consent of borrowers in violation of the California Penal Code. On July 24, 2017, the court certified a class comprised of California borrowers who, from October 2014 to May 2016, participated in outbound telephone conversations with the Company’s employees who recorded the conversations without first informing the borrowers that the conversations were being recorded. The class seeks statutory damages and attorney’s fees. On September 10, 2018, the Company reached an agreement in principle to settle this matter, and on August 21, 2019, the court approved the settlement agreement. The Company seeks to resolve all legal proceedings and other matters in the manner management believes is in the best interest of the Company and contests liability, allegations of wrongdoing and, where applicable, the amount of damages or scope of any penalties or other relief sought as appropriate in each pending matter. The Company has entered into agreements with a number of entities and regulatory agencies that toll applicable limitations periods with respect to their claims. On at least a quarterly basis, the Company assesses its liabilities and contingencies in connection with outstanding legal and regulatory and governmental proceedings utilizing the latest information available. Where available information indicates that it is probable, a liability has been incurred, and the Company can reasonably estimate the amount of the loss, an accrued liability is established. The actual costs of resolving these proceedings may be substantially higher or lower than the amounts accrued. As a legal matter develops, the Company, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether such matter presents a loss contingency that is both probable and estimable. If, at the time of evaluation, the loss contingency is not both probable and reasonably estimable, the matter will continue to be monitored for further developments that would make such loss contingency both probable and reasonably estimable. Once the matter is deemed to be both probable and reasonably estimable, the Company will establish an accrued liability and record a corresponding amount to legal-related expense. The Company will continue to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. Legal-related expense for the Company, which includes legal settlements and the fees paid to external legal service providers, of $24 and $56 for the three and nine months ended September 30, 2019, respectively, and $5 for the two months ended September 30, 2018, was included in general and administrative expenses on the consolidated statements of operations. Legal-related expense for the Predecessor of $33 and $40 for the one and seven months ended July 31, 2018, respectively, was included in general and administrative expenses on the consolidated statements of operations. For a number of matters for which a loss is probable or reasonably possible in future periods, whether in excess of a related accrued liability or where there is no accrued liability, the Company may be able to estimate a range of possible loss. In determining whether it is possible to provide an estimate of loss or range of possible loss, the Company reviews and evaluates its material legal matters on an ongoing basis, in conjunction with any outside counsel handling the matter. For those matters for which an estimate is possible, management currently believes the aggregate range of reasonably possible loss is $20 to $57 in excess of the accrued liability (if any) related to those matters as of September 30, 2019. This estimated range of possible loss is based upon currently available information and is subject to significant judgment, numerous assumptions and known and unknown uncertainties. The matters underlying the estimated range will change from time to time, and actual results may vary substantially from the current estimate. Those matters for which an estimate is not possible are not included within the estimated range. Therefore, this estimated range of possible loss represents what management believes to be an estimate of possible loss only for certain matters meeting these criteria. It does not represent the Company’s maximum loss exposure and the Company cannot provide assurance that its litigations reserves will not need to be adjusted in the future. Thus, the Company’s exposure and ultimate losses may be higher, possibly significantly so, than the amounts accrued or this aggregate amount. In the Company’s experience, legal proceedings are inherently unpredictable. One or more of the following factors frequently contribute to this inherent unpredictability: the proceeding is in its early stages; the damages sought are unspecified, unsupported or uncertain; it is unclear whether a case brought as a class action will be allowed to proceed on that basis or, if permitted to proceed as a class action, how the class will be defined; the other party is seeking relief other than or in addition to compensatory damages (including, in the case of regulatory and governmental investigations and inquiries, the possibility of fines and penalties); the matter presents meaningful legal uncertainties, including novel issues of law; the Company has not engaged in meaningful settlement discussions; discovery has not started or is not complete; there are significant facts in dispute; predicting possible outcomes depends on making assumptions about future decisions of courts or governmental or regulatory bodies or the behavior of other parties; and there are a large number of parties named as defendants (including where it is uncertain how damages or liability, if any, will be shared among multiple defendants). Generally, the less progress that has been made in the proceedings or the broader the range of potential results, the harder it is for the Company to estimate losses or ranges of losses that is reasonably possible the Company could incur. Based on current knowledge, and after consultation with counsel, management believes that the current legal accrued liability within payables and accrued liabilities, is appropriate, and the amount of any incremental liability arising from these matters is not expected to have a material adverse effect on the consolidated financial condition of the Company, although the outcome of such proceedings could be material to the Company’s operating results and cash flows for a particular period depending, on among other things, the level of the Company’s revenues or income for such period. However, in the event of significant developments on existing cases, it is possible that the ultimate resolution, if unfavorable, may be material to the Company’s consolidated financial statements. Other Loss Contingencies As part of the Company’s ongoing operations, it acquires servicing rights of forward and reverse mortgage loan portfolios that are subject to indemnification based on the representations and warranties of the seller. From time to time, the Company will seek recovery under these representations and warranties for incurred costs. The Company believes all balances sought from sellers recorded in advances and other receivables and reverse mortgage interests represent valid claims. However, the Company acknowledges that the claims process can be prolonged due to the required time to perfect claims at the loan level. Because of the required time to perfect or remediate these claims, management relies on the sufficiency of documentation supporting the claim, current negotiations with the counterparty and other evidence to evaluate whether a reserve is required for non-recoverable balances. In the absence of successful negotiations with the seller, all amounts claimed may not be recovered. Balances may be written-off and charged against earnings when management identifies amounts where recoverability from the seller is not likely. As of September 30, 2019, the Company believes all recorded balances for which recovery is sought from the seller are valid claims, and no evidence suggests additional reserves are warranted. Loan and Other Commitments The Company enters into IRLCs with prospective borrowers whereby the Company commits to lend a certain loan amount under specific terms and interest rates to the borrower. The Company also enters into LPCs with prospective sellers. These loan commitments are treated as derivatives and are carried at fair value. See Note 9, Derivative Financial Instruments, for more information. The Company had certain reverse MSRs, reverse MSLs and reverse mortgage loans related to approximately $23,990 and $28,415 of UPB in reverse mortgage loans as of September 30, 2019 and December 31, 2018, respectively. As a servicer for these reverse mortgage loans, among other things, the Company is obligated to fund borrowers’ draws to the loan customers as required in accordance with the loan agreement. As of September 30, 2019 and December 31, 2018, the Company’s maximum unfunded advance obligation to fund borrower draws related to these MSRs and loans was approximately $2,741 and $3,128, respectively. Upon funding any portion of these draws, the Company expects to securitize and sell the advances in transactions that will be accounted for as secured borrowings.

Business Segment Reporting

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Business Segment Reporting

19. Business Segment Reporting

Upon consummation of the Merger with Nationstar, the Company has identified four reportable segments: Servicing, Originations, Xome and Corporate/Other. 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 based on 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.

The following tables present financial information by segment.



	Successor
	Three Months Ended September 30, 2019
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	163		$	22		$	112	$	(39	)	$	258		$	—		$	258
Net gain on mortgage loans held for sale	—			312			—		37			349			11			360
Total revenues	163			334			112		(2		)	607			11			618
Total Expenses	171			155			101		(2		)	425			53			478
Other income (expenses)
Interest income	137			24			—		—			161			2			163
Interest expense	(120		)	(24		)	—		—			(144		)	(52		)	(196		)
Other	—			(1		)	3		—			2			(2		)	—
Total Other Income (Expenses), Net	17			(1		)	3		—			19			(52		)	(33		)
Income (loss) before income tax expense (benefit)	$	9		$	178		$	14	$	—		$	201		$	(94	)	$	107
Depreciation and amortization for property and equipment and intangible assets	$	5		$	4		$	4	$	—		$	13		$	9		$	22
Total assets	$	12,049		$	8,450		$	515	$	(4,650	)	$	16,364		$	2,114		$	18,478



	Successor
	Two Months Ended September 30, 2018
	Servicing			Originations			Xome			Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	183		$	10		$	73		$	(7	)	$	259		$	—		$	259
Net gain on mortgage loans held for sale	—			76			—			7			83			—			83
Total revenues	183			86			73			—			342			—			342
Total Expenses	104			66			71			—			241			34			275
Other income (expenses)
Interest income	78			10			—			—			88			2			90
Interest expense	(74		)	(10		)	(1		)	—			(85		)	(37		)	(122		)
Other	5			1			—			—			6			—			6
Total Other Income (Expenses), Net	9			1			(1		)	—			9			(35		)	(26		)
Income (loss) before income tax expense (benefit)	$	88		$	21		$	1		$	—		$	110		$	(69	)	$	41
Depreciation and amortization for property and equipment and intangible assets	$	4		$	2		$	2		$	—		$	8		$	7		$	15
Total assets	$	14,166		$	4,892		$	457		$	(3,532	)	$	15,983		$	1,745		$	17,728



	Predecessor
	One Month Ended July 31, 2018
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	97		$	4		$	22	$	(3	)	$	120		$	—		$	120
Net gain on mortgage loans held for sale	—			41			—		3			44			—			44
Total revenues	97			45			22		—			164			—			164
Total Expenses	126			34			19		—			179			63			242
Other income (expenses)
Interest income	41			6			—		—			47			1			48
Interest expense	(35		)	(6		)	—		—			(41		)	(12		)	(53		)
Other	—			—			—		—			—			—			—
Total Other Income (Expenses), Net	6			—			—		—			6			(11		)	(5		)
Income (loss) before income tax expense (benefit)	$	(23	)	$	11		$	3	$	—		$	(9	)	$	(74	)	$	(83	)
Depreciation and amortization for property and equipment and intangible assets	$	2		$	1		$	1	$	—		$	4		$	—		$	4
Total assets	$	14,578		$	4,701		$	425	$	(3,591	)	$	16,113		$	913		$	17,026



	Successor
	Nine Months Ended September 30, 2019
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	198		$	57		$	316	$	(92	)	$	479		$	—		$	479
Net gain on mortgage loans held for sale	—			687			—		90			777			11			788
Total revenues	198			744			316		(2		)	1,256			11			1,267
Total Expenses	555			404			301		(2		)	1,258			155			1,413
Other income (expenses)
Interest income	388			64			—		—			452			7			459
Interest expense	(343		)	(67		)	—		—			(410		)	(162		)	(572		)
Other	—			4			14		—			18			(2		)	16
Total Other Income (Expenses), Net	45			1			14		—			60			(157		)	(97		)
(Loss) income before income tax (benefit) expense	$	(312	)	$	341		$	29	$	—		$	58		$	(301	)	$	(243	)
Depreciation and amortization for property and equipment and intangible assets	$	13		$	13		$	11	$	—		$	37		$	30		$	67
Total assets	$	12,049		$	8,450		$	515	$	(4,650	)	$	16,364		$	2,114		$	18,478



	Predecessor
	Seven Months Ended July 31, 2018
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	740		$	36		$	149	$	(25	)	$	900		$	1		$	901
Net gain on mortgage loans held for sale	—			270			—		25			295			—			295
Total revenues	740			306			149		—			1,195			1			1,196
Total Expenses	474			245			123		—			842			103			945
Other income (expenses)
Interest income	288			38			—		—			326			7			333
Interest expense	(268		)	(37		)	—		—			(305		)	(83		)	(388		)
Other	(1		)	—			9		—			8			(2		)	6
Total Other Income (Expenses), Net	19			1			9		—			29			(78		)	(49		)
Income (loss) before income tax expense (benefit)	$	285		$	62		$	35	$	—		$	382		$	(180	)	$	202
Depreciation and amortization for property and equipment and intangible assets	$	15		$	7		$	7	$	—		$	29		$	4		$	33
Total assets	$	14,578		$	4,701		$	425	$	(3,591	)	$	16,113		$	913		$	17,026

⁽¹⁾

For Servicing segment results purposes, all revenue is attributable to servicing portfolio. Therefore, $37, $7, $3, $90, and $25 of net gain on mortgage loans is moved to service related, net during the three months ended September 30, 2019, two months ended September 30, 2018, one month ended July 31, 2018, nine months ended September 30, 2019, and seven months ended July 31, 2018, respectively. For consolidated results purposes, these amounts were reclassed back to net gain on mortgage loans held for sale.

Guarantor Financial Statement Information

9 Months Ended

Sep. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Guarantor Financial Statement Information

20. Guarantor Financial Statement Information

As of September 30, 2019, Nationstar Mortgage LLC and Nationstar Capital Corporation⁽¹⁾(collectively, the “Issuer”), both wholly-owned subsidiaries of the Company, have issued a 6.500% unsecured senior notes due July 2021 with an outstanding aggregate principal amount of $592 and a 6.500% unsecured senior notes due June 2022 with an outstanding aggregate principal amount of $206 (collectively, the “unsecured senior notes”). The unsecured senior notes are unconditionally guaranteed, jointly and severally, by all of Nationstar Mortgage LLC’s existing and future domestic subsidiaries other than its securitization and certain finance subsidiaries, certain other restricted subsidiaries, excluded restricted subsidiaries and subsidiaries that in the future Nationstar Mortgage LLC designates as unrestricted subsidiaries. All guarantor subsidiaries are 100% owned by Nationstar Mortgage LLC. The Company and its three wholly-owned subsidiaries are guarantors of the unsecured senior notes as well. Presented below are the condensed consolidating financial statements of the Company, Nationstar Mortgage LLC and the guarantor subsidiaries for the periods indicated.

In the condensed consolidating financial statements presented below, the Company allocates income tax expense to Nationstar Mortgage LLC as if it were a separate tax payer entity pursuant to ASC 740, Income Taxes.


⁽¹⁾	Nationstar Capital Corporation has no assets, operations or liabilities other than being a co-obligor of the unsecured senior notes.

MR. COOPER GROUP INC. CONSOLIDATING BALANCE SHEET SEPTEMBER 30, 2019

	Successor
	Mr. Cooper		Issuer⁽¹⁾		Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—	$	331	$	1	$	39	$	—		$	371
Restricted cash	—		155		—		116		—			271
Mortgage servicing rights	—		3,322		—		24		—			3,346
Advances and other receivables, net	—		966		—		1		—			967
Reverse mortgage interests, net	—		5,733		—		929		—			6,662
Mortgage loans held for sale at fair value	—		4,267		—		—		—			4,267
Property and equipment, net	—		94		—		19		—			113
Deferred tax asset, net	984		46		—		2		—			1,032
Other assets	—		1,317		213		814		(895		)	1,449
Investment in subsidiaries	2,612		682		—		—		(3,294		)	—
Total assets	$	3,596	$	16,913	$	214	$	1,944	$	(4,189	)	$	18,478

Liabilities and Stockholders’ Equity
Unsecured senior notes, net	$	1,665	$	799	$	—	$	—	$	—		$	2,464
Advance facilities, net	—		64		—		449		—			513
Warehouse facilities, net	—		4,802		—		—		—			4,802
Payables and other liabilities	23		1,905		2		72		—			2,002
MSR related liabilities - nonrecourse at fair value	—		1,313		—		15		—			1,328
Mortgage servicing liabilities	—		69		—		—		—			69
Other nonrecourse debt, net	—		4,596		—		937		—			5,533
Payables to affiliates	141		753		—		1		(895		)	—
Total liabilities	1,829		14,301		2		1,474		(895		)	16,711
Total stockholders’ equity	1,767		2,612		212		470		(3,294		)	1,767
Total liabilities and stockholders’ equity	$	3,596	$	16,913	$	214	$	1,944	$	(4,189	)	$	18,478


⁽¹⁾	Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2019

	Successor
	Mr. Cooper			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—		$	137		$	5	$	116		$	—		$	258
Net gain on mortgage loans held for sale	—			349			—		11			—			360
Total revenues	—			486			5		127			—			618
Expenses:
Salaries, wages benefits	—			209			1		40			—			250
General and administrative	—			185			—		43			—			228
Total expenses	—			394			1		83			—			478
Other income (expenses):
Interest income	—			127			—		36			—			163
Interest expense	(37		)	(143		)	—		(16		)	—			(196		)
Other income (expenses)	—			(3		)	—		3			—			—
Gain (loss) from subsidiaries	121			71			—		—			(192		)	—
Total other income (expenses), net	84			52			—		23			(192		)	(33		)
Income (loss) before income tax benefit	84			144			4		67			(192		)	107
Less: Income tax expense	—			24			—		—			—			24
Net income (loss)	84			120			4		67			(192		)	83
Less: Net loss attributable to non-controlling interests	—			(1		)	—		—			—			(1		)
Net income (loss) attributable to Mr. Cooper	$	84		$	121		$	4	$	67		$	(192	)	$	84


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2019

	Successor
	Mr. Cooper			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—		$	139		$	16	$	324		$	—		$	479
Net gain on mortgage loans held for sale	—			777			—		11			—			788
Total revenues	—			916			16		335			—			1,267
Expenses:
Salaries, wages benefits	—			581			3		119			—			703
General and administrative	—			529			2		179			—			710
Total expenses	—			1,110			5		298			—			1,413
Other income (expenses):
Interest income	—			392			—		67			—			459
Interest expense	(114		)	(411		)	—		(47		)	—			(572		)
Other income (expenses)	—			2			—		14			—			16
(Loss) gain from subsidiaries	(75		)	82			—		—			(7		)	—
Total other income (expenses), net	(189		)	65			—		34			(7		)	(97		)
(Loss) income before income tax benefit	(189		)	(129		)	11		71			(7		)	(243		)
Less: Income tax benefit	—			(52		)	—		—			—			(52		)
Net (loss) income	(189		)	(77		)	11		71			(7		)	(191		)
Less: Net loss attributable to non-controlling interests	—			(2		)	—		—			—			(2		)
Net (loss) income attributable to Mr. Cooper	$	(189	)	$	(75	)	$	11	$	71		$	(7	)	$	(189	)


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2019

	Successor
	Mr. Cooper			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net (loss) income attributable to Mr. Cooper	$	(189	)	$	(75	)	$	11		$	71		$	(7	)	$	(189	)
Adjustments to reconcile net (loss) income to net cash attributable to operating activities:
Deferred tax benefit	—			(53		)	—			—			—			(53		)
Net loss attributable to non-controlling interests	—			(2		)	—			—			—			(2		)
Loss (gain) from subsidiaries	75			(82		)	—			—			7			—
Net gain on mortgage loans held for sale	—			(777		)	—			(11		)	—			(788		)
Interest income on reverse mortgage loans	—			(208		)	—			(33		)	—			(241		)
Provision for servicing reserves	—			53			—			—			—			53
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities	—			990			—			8			—			998
Fair value changes in excess spread financing	—			(186		)	—			(4		)	—			(190		)
Fair value changes in mortgage servicing rights financing liability	—			15			—			—			—			15
Fair value changes in mortgage loans held for investment	—			—			—			(3		)	—			(3		)
Amortization of premiums, net of discount accretion	5			(21		)	—			(22		)	—			(38		)
Depreciation and amortization for property and equipment and intangible assets	—			55			—			12			—			67
Share-based compensation	—			11			—			3			—			14
Other loss	—			5			—			—			—			5
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(1,823		)	—			—			—			(1,823		)
Mortgage loans originated and purchased for sale, net of fees	—			(27,685		)	—			12			—			(27,673		)
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			27,777			—			139			—			27,916
Changes in assets and liabilities:
Advances and other receivables	—			266			—			(1		)	—			265
Reverse mortgage interests	—			1,515			—			185			—			1,700
Other assets	—			141			(12		)	(121		)	—			8
Payables and other liabilities	109			(164		)	1			(15		)	—			(69		)
Net cash attributable to operating activities	—			(248		)	—			220			—			(28		)


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2019 (Continued)

	Successor
	Mr. Cooper		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing Activities
Acquisition, net of cash acquired	—		(85		)	—		—			—		(85		)
Property and equipment additions, net of disposals	—		(27		)	—		(11		)	—		(38		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—		(454		)	—		—			—		(454		)
Proceeds on sale of forward and reverse mortgage servicing rights	—		298			—		—			—		298
Net cash attributable to investing activities	—		(268		)	—		(11		)	—		(279		)
Financing Activities
Increase in warehouse facilities	—		1,930			—		—			—		1,930
Decrease in advance facilities	—		(39		)	—		(56		)	—		(95		)
Repayment of notes payable	—		(294		)	—		—			—		(294		)
Proceeds from issuance of HECM securitizations	—		—			—		398			—		398
Proceeds from sale of HECM securitizations	—		—			—		20			—		20
Repayment of HECM securitizations	—		—			—		(568		)	—		(568		)
Proceeds from issuance of participating interest financing in reverse mortgage interests	—		220			—		—			—		220
Repayment of participating interest financing in reverse mortgage interests	—		(1,472		)	—		—			—		(1,472		)
Proceeds from issuance of excess spread financing	—		469			—		—			—		469
Repayment of excess spread financing	—		(19		)	—		—			—		(19		)
Settlement of excess spread financing	—		(163		)	—		—			—		(163		)
Repayment of nonrecourse debt - legacy assets	—		—			—		(29		)	—		(29		)
Repayment of finance lease liability	—		(3		)	—		—			—		(3		)
Surrender of shares relating to stock vesting	—		(1		)	—		—			—		(1		)
Debt financing costs	—		(5		)	—		—			—		(5		)
Net cash attributable to financing activities	—		623			—		(235		)	—		388
Net increase (decrease) in cash, cash equivalents, and restricted cash	—		107			—		(26		)	—		81
Cash, cash equivalents, and restricted cash - beginning of period	—		379			1		181			—		561
Cash, cash equivalents, and restricted cash - end of period	$	—	$	486		$	1	$	155		$	—	$	642


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2018

	Successor
	Mr. Cooper		Issuer⁽¹⁾		Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—	$	193	$	1	$	48		$	—		$	242
Restricted cash	—		186		—		133			—			319
Mortgage servicing rights	—		3,644		—		32			—			3,676
Advances and other receivables, net	—		1,194		—		—			—			1,194
Reverse mortgage interests, net	—		6,770		—		1,164			—			7,934
Mortgage loans held for sale at fair value	—		1,631		—		—			—			1,631
Mortgage loans held for investment at fair value	—		1		—		118			—			119
Property and equipment, net	—		84		—		12			—			96
Deferred tax asset, net	973		—		—		(6		)	—			967
Other assets	—		660		202		621			(688		)	795
Investment in subsidiaries	2,820		601		—		—			(3,421		)	—
Total assets	$	3,793	$	14,964	$	203	$	2,122		$	(4,109	)	$	16,973

Liabilities and Stockholders’ Equity
Unsecured senior notes, net	$	1,660	$	799	$	—	$	—		$	—		$	2,459
Advance facilities, net	—		90		—		505			—			595
Warehouse facilities, net	—		2,349		—		—			—			2,349
Payables and other liabilities	49		1,413		1		80			—			1,543
MSR related liabilities - nonrecourse at fair value	—		1,197		—		19			—			1,216
Mortgage servicing liabilities	—		71		—		—			—			71
Other nonrecourse debt, net	—		5,676		—		1,119			—			6,795
Payables to affiliates	139		549		—		—			(688		)	—
Total liabilities	1,848		12,144		1		1,723			(688		)	15,028
Total stockholders’ equity	1,945		2,820		202		399			(3,421		)	1,945
Total liabilities and stockholders’ equity	$	3,793	$	14,964	$	203	$	2,122		$	(4,109	)	$	16,973


⁽¹⁾	Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS TWO MONTHS ENDED SEPTEMBER 30, 2018

	Successor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—		$	183		$	4	$	72		$	—		$	259
Net gain on mortgage loans held for sale	—			83			—		—			—			83
Total revenues	—			266			4		72			—			342
Expenses:
Salaries, wages and benefits	—			107			1		31			—			139
General and administrative	1			91			1		43			—			136
Total expenses	1			198			2		74			—			275
Other income (expenses):
Interest income	—			80			—		10			—			90
Interest expense	(26		)	(87		)	—		(9		)	—			(122		)
Other income	1			5			—		—			—			6
Gain (loss) from subsidiaries	56			1			—		—			(57		)	—
Total other income (expenses), net	31			(1		)	—		1			(57		)	(26		)
Income (loss) before income tax expense (benefit)	30			67			2		(1		)	(57		)	41
Less: Income tax (benefit) expense	(990		)	11			—		—			—			(979		)
Net income (loss)	1,020			56			2		(1		)	(57		)	1,020
Less: Net income (loss) attributable to non-controlling interests	—			—			—		—			—			—
Net income (loss) attributable to Nationstar	$	1,020		$	56		$	2	$	(1	)	$	(57	)	$	1,020


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS ONE MONTH ENDED JULY 31, 2018

	Predecessor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Revenues:
Service related, net	$	—		$	95		$	3	$	22		$	—	$	120
Net gain on mortgage loans held for sale	—			44			—		—			—		44
Total revenues	—			139			3		22			—		164
Expenses:
Salaries, wages and benefits	—			59			—		10			—		69
General and administrative	27			136			—		10			—		173
Total expenses	27			195			—		20			—		242
Other income (expenses):
Interest income	—			41			—		7			—		48
Interest expense	—			(49		)	—		(4		)	—		(53		)
Other income (expense)	—			—			—		—			—		—
(Loss) gain from subsidiaries	(37		)	7			—		—			30		—
Total other income (expenses), net	(37		)	(1		)	—		3			30		(5		)
(Loss) income before income tax (benefit) expense	(64		)	(57		)	3		5			30		(83		)
Less: Income tax (benefit) expense	—			(20		)	—		1			—		(19		)
Net loss) income	(64		)	(37		)	3		4			30		(64		)
Less: Net income (loss) attributable to non-controlling interests	—			—			—		—			—		—
Net (loss) income attributable to Nationstar	$	(64	)	$	(37	)	$	3	$	4		$	30	$	(64	)

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS SEVEN MONTHS ENDED JULY 31, 2018

	Predecessor
	Nationstar		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—	$	732		$	16	$	153		$	—		$	901
Net gain on mortgage loans held for sale	—		295			—		—			—			295
Total revenues	—		1,027			16		153			—			1,196
Expenses:
Salaries, wages and benefits	—		359			3		64			—			426
General and administrative	27		427			1		64			—			519
Total expenses	27		786			4		128			—			945
Other income (expenses):
Interest income	—		299			—		34			—			333
Interest expense	—		(364		)	—		(24		)	—			(388		)
Other income (expense)	—		(3		)	—		9			—			6
Gain (loss) from subsidiaries	181		56			—		—			(237		)	—
Total other income (expenses), net	181		(12		)	—		19			(237		)	(49		)
Income (loss) before income tax expense	154		229			12		44			(237		)	202
Less: Income tax expense	—		48			—		—			—			48
Net income (loss)	154		181			12		44			(237		)	154
Less: Net income (loss) attributable to non-controlling interests	—		—			—		—			—			—
Net income (loss) attributable to Nationstar	$	154	$	181		$	12	$	44		$	(237	)	$	154


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS TWO MONTHS ENDED SEPTEMBER 30, 2018

	Successor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net income (loss) attributable to Mr. Cooper	$	1,020		$	56		$	2		$	(1	)	$	(57	)	$	1,020
Adjustments to reconcile net income (loss) to net cash attributable to operating activities:
Deferred income tax (benefit) expense	(990		)	52			—			7			—			(931		)
Net income attributable to non-controlling interests	—			—			—			—			—			—
(Gain) loss from subsidiaries	(56		)	(1		)	—			—			57			—
Net gain on mortgage loans held for sale	—			(83		)	—			—			—			(83		)
Interest income on reverse mortgage loans	—			(72		)	—			—			—			(72		)
Provision for servicing reserves	—			14			—			—			—			14
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities	—			(27		)	—			—			—			(27		)
Fair value changes in excess spread financing	—			26			—			—			—			26
Amortization of premiums, net of discount accretion	1			2			—			—			—			3
Depreciation and amortization for property and equipment and intangible assets	—			13			—			2			—			15
Share-based compensation	—			2			—			—			—			2
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(223		)	—			—			—			(223		)
Mortgage loans originated and purchased for sale, net of fees	—			(3,458		)	—			—			—			(3,458		)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			3,537			—			9			—			3,546
Changes in assets and liabilities:
Advances and other receivables	—			76			—			—			—			76
Reverse mortgage interests	—			425			—			17			—			442
Other assets	—			25			(3		)	(37		)	—			(15		)
Payables and other liabilities	19			(179		)	1			—			—			(159		)
Net cash attributable to operating activities	(6		)	185			—			(3		)	—			176


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS TWO MONTHS ENDED SEPTEMBER 30, 2018 (Continued)

	Successor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing Activities
Acquisition, net of cash acquired	—			—			—		(33		)	—		(33		)
Property and equipment additions, net of disposals	—			(20		)	—		6			—		(14		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—			(63		)	—		—			—		(63		)
Proceeds on sale of forward and reverse mortgage servicing rights	—			60			—		—			—		60
Net cash attributable to investing activities	—			(23		)	—		(27		)	—		(50		)
Financing Activities
Increase in warehouse facilities	—			186			—		—			—		186
(Decrease) increase in advance facilities	—			(17		)	—		63			—		46
Repayment of HECM securitizations	—			—			—		(91		)	—		(91		)
Proceeds from issuance of participating interest financing in reverse mortgage interests	—			45			—		—			—		45
Repayment of participating interest financing in reverse mortgage interests	—			(403		)	—		—			—		(403		)
Proceeds from issuance of excess spread financing	—			84			—		—			—		84
Repayment of excess spread financing	—			(21		)	—		—			—		(21		)
Settlement of excess spread financing	—			(31		)	—		—			—		(31		)
Repayment of nonrecourse debt - legacy assets	—			—			—		(3		)	—		(3		)
Redemption and repayment of unsecured senior notes	—			(1,030		)	—		—			—		(1,030		)
Debt financing costs	—			(1		)	—		—			—		(1		)
Net cash attributable to financing activities	—			(1,188		)	—		(31		)	—		(1,219		)
Net decrease in cash, cash equivalents, and restricted cash	(6		)	(1,026		)	—		(61		)	—		(1,093		)
Cash, cash equivalents, and restricted cash - beginning of period	11			1,358			1		253			—		1,623
Cash, cash equivalents, and restricted cash - end of period	$	5		$	332		$	1	$	192		$	—	$	530


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SEVEN MONTHS ENDED JULY 31, 2018

	Predecessor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net income (loss) attributable to Nationstar	$	154		$	181		$	12		$	44		$	(237	)	$	154
Adjustments to reconcile net income (loss) to net cash attributable to operating activities:
(Gain) loss from subsidiaries	(181		)	(56		)	—			—			237			—
Net gain on mortgage loans held for sale	—			(295		)	—			—			—			(295		)
Interest income on reverse mortgage loans	—			(274		)	—			—			—			(274		)
Gain on sale of assets	—			—			—			(9		)	—			(9		)
MSL related increased obligations	—			59			—			—			—			59
Provision for servicing reserves	—			70			—			—			—			70
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities	—			(178		)	—			1			—			(177		)
Fair value changes in excess spread financing	—			81			—			—			—			81
Fair value changes in mortgage servicing rights financing liability	—			16			—			—			—			16
Amortization of premiums, net of discount accretion	—			11			—			(3		)	—			8
Depreciation and amortization for property and equipment and intangible assets	—			26			—			7			—			33
Share-based compensation	—			16			—			1			—			17
Other loss	—			3			—			—			—			3
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(544		)	—			—			—			(544		)
Mortgage loans originated and purchased for sale, net of fees	—			(12,328		)	—			—			—			(12,328		)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			13,381			—			11			—			13,392
Changes in assets and liabilities:
Advances and other receivables	—			377			—			—			—			377
Reverse mortgage interests	—			1,866			—			(265		)	—			1,601
Other assets	9			(293		)	(12		)	255			—			(41		)
Payables and other liabilities	27			128			—			(4		)	—			151
Net cash attributable to operating activities	9			2,247			—			38			—			2,294

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SEVEN MONTHS ENDED JULY 31, 2018 (Continued)

	Predecessor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing Activities
Property and equipment additions, net of disposals	—			(35		)	—		(5		)	—		(40		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—			(127		)	—		(7		)	—		(134		)
Net payment related to acquisition of HECM related receivables	—			(1		)	—		—			—		(1		)
Proceeds on sale of assets	—			—			—		13			—		13
Net cash attributable to investing activities	—			(163		)	—		1			—		(162		)
Financing Activities
Decrease in warehouse facilities	—			(585		)	—		—			—		(585		)
Decrease in advance facilities	—			(55		)	—		(250		)	—		(305		)
Proceeds from issuance of HECM securitizations	—			—			—		759			—		759
Repayment of HECM securitizations	—			—			—		(448		)	—		(448		)
Proceeds from issuance of participating interest financing in reverse mortgage interests	—			208			—		—			—		208
Repayment of participating interest financing in reverse mortgage interests	—			(1,599		)	—		—			—		(1,599		)
Proceeds from issuance of excess spread financing	—			70			—		—			—		70
Repayment of excess spread financing	—			(3		)	—		—			—		(3		)
Settlement of excess spread financing	—			(105		)	—		—			—		(105		)
Repayment of nonrecourse debt - legacy assets	—			—			—		(7		)	—		(7		)
Repurchase of unsecured senior notes	—			(62		)	—		—			—		(62		)
Surrender of shares relating to stock vesting	(9		)	—			—		—			—		(9		)
Debt financing costs	—			(24		)	—		—			—		(24		)
Dividends to non-controlling interests	—			(1		)	—		—			—		(1		)
Net cash attributable to financing activities	(9		)	(2,156		)	—		54			—		(2,111		)
Net (decrease) increase in cash, cash equivalents, and restricted cash	—			(72		)	—		93			—		21
Cash, cash equivalents, and restricted cash - beginning of period	—			423			1		151			—		575
Cash, cash equivalents, and restricted cash - end of period	$	—		$	351		$	1	$	244		$	—	$	596

Transactions with Affiliates	9 Months Ended
Transactions with Affiliates	Sep. 30, 2019
Related Party Transactions [Abstract]
Transactions with Affiliates	21. Transactions with Affiliates Nationstar previously entered into arrangements with Fortress Investment Group (“Fortress”), its subsidiaries managed funds, or affiliates for purposes of financing the Company’s MSR acquisitions and performing services as a subservicer. Prior to the Merger with Nationstar on July 31, 2018, an affiliate of Fortress held a majority of the outstanding common shares of the Predecessor. Subsequent to the Merger, Fortress is no longer an affiliate of the Company. Refer to Note 2, Acquisitions, for additional information. The following summarizes the Predecessor’s transactions with affiliates of Fortress prior to the Merger on July, 31 2018. New Residential Excess Spread Financing The Predecessor has entered into several agreements with certain entities managed by New Residential, in which New Residential and/or certain funds managed by Fortress own an interest (each a “New Residential Entity”). The Predecessor sold to the related New Residential Entity the right to receive a portion of the excess cash flow generated from certain acquired MSRs after a receipt of a fixed base servicing fee per loan. The Predecessor, as the servicer of the loans, retains all ancillary revenues and the remaining portion of the excess cash flow after payment of the fixed base servicing fee and also provides all advancing functions for the portfolio. The related New Residential Entity does not have prior or ongoing obligations associated with these MSR portfolios. Should the Company refinance any loan in such portfolios, subject to certain limitations, the Company will be required to transfer the new loan or a replacement loan of similar economic characteristics into the portfolios. The new or replacement loan will be governed by the same terms set forth in the agreements described above. The fees paid to New Residential Entity by the Predecessor totaled $17 and $122 during the one and seven months ended July 31, 2018, respectively, which were recorded as a reduction to servicing fee revenue, net. Mortgage Servicing Rights Financing From December 2013 through June 2014, the Predecessor entered into agreements to sell a contractually specified base fee component of certain MSRs and servicing advances under specified terms to a joint venture capitalized by New Residential and certain unaffiliated third-parties. The Company continues to be the named servicer, and, for accounting purposes, ownership of the mortgage servicing rights continues to reside with the Company. Accordingly, the Company accounts for the MSRs and the related MSRs financing liability on its consolidated balance sheets. The Company will continue to sell future servicing advances to New Residential. The Predecessor did not enter into any additional supplemental agreements with these affiliates in 2018. Subservicing and Servicing In January 2017, the Predecessor entered into a subservicing agreement with a subsidiary of New Residential. The Predecessor earned $6 and $43 of subservicing fees and other subservicing revenues during the one and seven months ended July 31, 2018, respectively. In May 2014, the Predecessor entered into a servicing arrangement with New Residential whereby the Predecessor services residential mortgage loans acquired by New Residential and/or its various affiliates and trust entities. For the one and seven months ended July 31, 2018, the Predecessor recognized approximately $1 and $3 related to these service arrangements, respectively.

Nature of Business and Basis of Presentation (Policies)	9 Months Ended
Nature of Business and Basis of Presentation (Policies)	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation For the purpose of financial statement presentation, Mr. Cooper was determined to be the accounting acquirer in the Merger, and Nationstar’s assets and liabilities were recorded at estimated fair value as of the acquisition date. Mr. Cooper’s interim consolidated financial statements for periods following the Merger closing are labeled “Successor” and reflect the acquired assets and liabilities from Nationstar. Under Securities and Exchange Commission (“SEC”) rules, when a registrant succeeds to substantially all of the business of another entity and the registrant’s own operations before the succession appear insignificant relative to the operations assumed or acquired, the registrant is required to present financial information for the acquired entity (the “Predecessor”) for all comparable periods being presented before the acquisition. Due to the acquisition, the Predecessor and Successor financial statements have been prepared on different basis of accounting and are therefore not comparable. Pursuant to the Merger, Nationstar is considered the predecessor company. Therefore, the Company is providing additional information in the accompanying unaudited consolidated financial statements regarding Nationstar’s business for periods prior to July 31, 2018. The predecessor company financial information in this report is labeled “Predecessor” in these consolidated interim financial statements. The consolidated interim financial statements of the Company and Predecessor have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the SEC. Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Reports on Form 10-K for the year ended December 31, 2018. Upon the consummation of the Merger, the Company adopted the significant accounting policies that were implemented by Nationstar and applied to the Predecessor’s financial statements, as disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. The interim consolidated financial statements are unaudited; however, in the opinion of management, all adjustments, consisting of normal recurring items, considered necessary for a fair presentation of the results of the interim periods have been included. Dollar amounts are reported in millions, except per share data and other key metrics, unless otherwise noted. The Company evaluated subsequent events through the date these interim consolidated financial statements were issued.
Basis of Consolidation	Basis of Consolidation The basis of consolidation described below was adopted by Nationstar and applied to the Predecessor financial statements for the periods impacted by the adoption. The Successor’s financial statements reflect the adoption of such standards. The consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, other entities in which the Company has a controlling financial interest and those variable interest entities (“VIE”) where the Company’s wholly-owned subsidiaries are the primary beneficiaries. Assets and liabilities of VIEs and their respective results of operations are consolidated from the date that the Company became the primary beneficiary through the date the Company ceases to be the primary beneficiary. The Company applies the equity method of accounting to investments where it is able to exercise significant influence, but not control, over the policies and procedures of the entity and owns less than 50% of the voting interests. Investments in certain companies over which the Company does not exert significant influence are accounted for as cost method investments. Intercompany balances and transactions on consolidated entities have been eliminated. Business combinations are included in the consolidated financial statements from their respective dates of acquisition.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates due to factors such as adverse changes in the economy, changes in interest rates, secondary market pricing for loans held for sale and derivatives, strength of underwriting and servicing practices, changes in prepayment assumptions, declines in home prices or discrete events adversely affecting specific borrowers, and such differences could be material.
Reclassification	Reclassification Certain reclassifications have been made in the 2018 consolidated financial statements to conform to 2019 presentation. Such reclassifications did not affect total revenues or net income.
Recent Accounting Guidance Adopted and Not Yet Adopted	Recent Accounting Guidance Adopted Accounting Standards Update No. 2016-02, Leases (Topic 842) (“ASU 2016-02”), No. 2018-10, Codification Improvements to Topic 842, Leases (“ASU 2018-10”), and No. 2018-11, Leases (Topic 842): Targeted Improvements (“ASU 2018-11”), primarily impact lessee accounting by requiring the recognition of a right-of-use asset and a corresponding lease liability on the balance sheet for long-term lease agreements. ASU 2016-02 was effective for the Company on January 1, 2019. ASU 2016-02 provides for a modified retrospective transition approach requiring lessees to recognize and measure leases on the balance sheet at the beginning of either the earliest period presented or as of the beginning of the period of adoption with the option to elect certain practical expedients. The Company has elected to apply ASU 2016-02 as of the beginning of the period of adoption (January 1, 2019) and has not restated comparative periods. The Company elected the package of practical expedients, which, among other items, permits the Company not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company also elected the short-term lease recognition exemption for all leases that qualify. Under this practical expedient, for those leases that qualify, the Company does not recognize right-of-use (“ROU”) assets or lease liabilities, which includes not recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. The Company also elected the practical expedient to not separate lease and non-lease components for all of our leases. The Company did not elect the use-of-hindsight practical expedient. As a result of implementing ASU 2016-02, the Company recognized an operating lease ROU asset of $114 and an operating lease liability of $124 on January 1, 2019, with no impact on its consolidated statement of operations. The ROU asset and operating lease liability are recorded in other assets, and payables and other liabilities, respectively, in the consolidated balance sheets. See Note 7, Leases for additional information. Accounting Standards Update No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40 - Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" (“ASU 2018-15”) aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018-15 will be effective for the Company on January 1, 2020. Early adoption is permitted, including adoption in any interim period. In the first quarter of 2019, the Company early adopted ASU 2018-15. The standard did not have a material impact to the Company’s consolidated financial statements. Recent Accounting Guidance Not Yet Adopted Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU 2016-13”), requires expected credit losses for financial instruments held at the reporting date to be measured based on historical experience, current conditions and reasonable and supportable forecasts. The update eliminates the probable initial recognition threshold in current GAAP and instead reflects an entity’s current estimate of all expected credit losses over the life of the asset. Previously, when credit losses were measured under GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. The new standard will reflect management’s best estimate of all expected credit losses for the Company’s financial assets that are recognized at amortized cost. As part of the evaluation process, the Company has performed a scoping analysis, developed a detailed project plan, and is currently in process of completing documentation. The Company has also formed an internal committee from various internal departments to assist in the implementation of the new standard. The guidance is effective in first quarter 2020 with a cumulative-effect adjustment to retained earnings as of the beginning of the year of adoption. The Company is currently evaluating the potential impact of ASU 2016-13 on its consolidated financial statements. Accounting Standards Update No. 2018-13, Fair Value Measurement (Topic 820) - Changes to the Disclosure Requirements for Fair Value Measurement, (“ASU 2018-13”) removes the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 fair value measurement methodologies, the policy for timing of transfers between levels and the valuation processes for Level 3 fair value measurements. It also adds a requirement to disclose changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and the range and weighted average of significant unobservable inputs used to develop Level 3 measurements. For certain unobservable inputs, entities may disclose other quantitative information in lieu of the weighted average if the other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 will be effective for the Company on January 1, 2020. The guidance will not have a material impact to the disclosures currently provided by the Company.

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The final allocation of the purchase price to the acquired assets and liabilities is as follows:



Final Estimated Fair Value of Net Assets Acquired:
Cash and cash equivalents	$	166
Restricted cash	430
Mortgage servicing rights	3,422
Advances and other receivables	1,262
Reverse mortgage interests	9,189
Mortgage loans held for sale	1,514
Mortgage loans held for investment	125
Property and equipment	96
Other assets	610
Fair value of assets acquired	16,814
Unsecured senior notes	1,830
Advance facilities	551
Warehouse facilities	2,701
Payables and other liabilities	1,352
MSR related liabilities—nonrecourse	1,065
Mortgage servicing liabilities	123
Other nonrecourse debt	7,583
Fair value of liabilities assumed	15,205
Total fair value of net tangible assets acquired	1,609
Intangible assets⁽¹⁾	103
Goodwill	65
Purchase price	$	1,777


⁽¹⁾	The following intangible assets were acquired in the Nationstar acquisition.



	Useful Life (Years)	Fair Value
Customer relationships⁽ⁱ⁾	6	$	61
Tradename⁽ⁱⁱ⁾	5	8
Technology⁽ⁱⁱ⁾	3-5	11
Internally developed software⁽ⁱⁱⁱ⁾	2	23
Total		$	103


⁽ⁱ⁾	The estimated fair values for customer relationships were measured using the excess earnings method.


⁽ⁱⁱ⁾	The estimated fair values for tradename and technology were measured using the relief-from-royalty method. This method assumes the tradename and technology have value to the extent the owner is relieved of the obligation to pay royalties for the benefits received from these assets.


⁽ⁱⁱⁱ⁾	The estimated fair values for internally developed software were measured using the replacement cost method.



Estimated Fair Value of Net Assets Acquired ⁽¹⁾:
Cash and cash equivalents	$	37
Restricted cash	2
Mortgage servicing rights	271
Advances and other receivables	84
Mortgage loans held for sale	536
Mortgage loans held for investment	1
Property and equipment	8
Other assets	483
Fair value of assets acquired	1,422
Notes payable⁽²⁾	294
Advance facilities	13
Warehouse facilities	393
Payables and other liabilities	530
Other nonrecourse debt	129
Fair value of liabilities assumed	1,359
Total fair value of net tangible assets acquired	63
Intangible assets:
Customer relationships⁽³⁾	13
Goodwill	40
Estimated purchase price	$	116


⁽¹⁾	Estimated Fair Value of Net Assets Acquired is subject to change due to dispute of purchase price.


⁽²⁾	Notes payable was subsequently paid off in February 2019 after the consummation of the acquisition.


⁽³⁾	The estimated fair values for customer relationships were measured using the excess earnings method and were determined to have a remaining useful life of 10 years.

Schedule of Pro Forma Information

The following unaudited pro forma financial information presents the combined results of operations for the three and nine months ended September 30, 2018, as if the acquisition had occurred on January 1, 2018.



	Three Months Ended September 30, 2018			Nine Months Ended September 30, 2018
Pro forma total revenues	$	506		$	1,538

Pro forma net (loss) income	$	(20	)	$	156

The following unaudited pro forma financial information presents the combined results of operations for the three and nine months ended September 30, 2019, as if the acquisition had occurred on January 1, 2019.



	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Pro forma total revenues	$	618	$	1,286

Pro forma net income (loss)	$	83	$	(188	)

Schedule of Business Acquisitions

The table below presents the calculation of aggregate purchase price.



Purchase Price:
Converted WMIH common shares (prior to reverse stock split) in millions	394
Price per share, based on price of $1.398 for WMIH stock on July 31, 2018	$	1.398
Purchase price from common stock issued	551
Purchase price from cash payment	1,226
Total purchase price	$	1,777

Mortgage Servicing Rights ("MSRs") and Related Liabilities (Tables)

9 Months Ended

Sep. 30, 2019

Transfers and Servicing [Abstract]

Schedule of Servicing Assets at Fair Value

The following table sets forth the activities of forward MSRs.



	Successor						Predecessor
MSRs - Fair Value	Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018			Seven Months Ended July 31, 2018
Fair value - beginning of period	$	3,665		$	3,413		$	2,937
Additions:
Servicing retained from mortgage loans sold	298			43			162
Purchases of servicing rights⁽¹⁾	732			72			144
Dispositions:
Sales of servicing assets⁽²⁾	(317		)	(63		)	4
Changes in fair value:
Changes in valuation inputs or assumptions used in the valuation model	(716		)	65			330
Other changes in fair value	(323		)	(45		)	(164		)
Fair value - end of period	$	3,339		$	3,485		$	3,413

⁽¹⁾

Purchases of servicing rights during the nine months ended September 30, 2019 includes $271 of mortgage servicing rights that were acquired from Pacific Union. See Note 2, Acquisitions for further discussion. In addition, on January 3, 2019, the Company entered into a subservicing contract for $24 billion unpaid principal balance in mortgages. The related servicing rights were subsequently purchased on May 1, 2019, resulting in additional $253 servicing rights during the second quarter of 2019.


⁽²⁾	Amount for the seven months ended July 31, 2018 is related to the sale of MSRs collateralized by nonperforming loans, which have a negative MSR value.

The following table sets forth the carrying value of the Company’s mortgage servicing rights (“MSRs”) and the related liabilities.



	Successor
MSRs and Related Liabilities	September 30, 2019		December 31, 2018
Forward MSRs - fair value	$	3,339	$	3,665
Reverse MSRs - amortized cost	7		11
Mortgage servicing rights	$	3,346	$	3,676

Mortgage servicing liabilities - amortized cost	$	69	$	71

Excess spread financing - fair value	$	1,281	$	1,184
Mortgage servicing rights financing - fair value	47		32
MSR related liabilities - nonrecourse at fair value	$	1,328	$	1,216

The following table provides a breakdown of credit sensitive and interest sensitive unpaid principal balance (“UPB”) for the Company’s forward MSRs.



	Successor
	September 30, 2019				December 31, 2018
MSRs - Sensitivity Pools	UPB		Fair Value		UPB		Fair Value
Credit sensitive	$	157,898	$	1,661	$	135,752	$	1,495
Interest sensitive	148,783		1,678		159,729		2,170
Total	$	306,681	$	3,339	$	295,481	$	3,665

Schedule of Assumptions for Fair Value of Mortgage Service Rights

The Company used the following key weighted-average inputs and assumptions in estimating the fair value of MSRs.



	Successor
	September 30, 2019		December 31, 2018
Credit Sensitive
Discount rate	10.4	%	11.3	%
Prepayment speeds	13.2	%	11.8	%
Average life	5.9 years		6.4 years

Interest Sensitive
Discount rate	9.0	%	9.3	%
Prepayment speeds	14.6	%	10.0	%
Average life	5.4 years		7.0 years

Total MSR Portfolio
Discount rate	9.7	%	10.2	%
Prepayment speeds	13.9	%	10.8	%
Average life	5.6 years		6.7 years

The following table sets forth the weighted average assumptions used in the valuation of the mortgage servicing rights financing liability.



	Successor
Mortgage Servicing Rights Financing Assumptions	September 30, 2019		December 31, 2018
Advance financing rates	3.7	%	4.2	%
Annual advance recovery rates	18.7	%	19.0	%

The Company used the following weighted-average assumptions in the Company’s valuation of excess spread financing.



	Successor
	September 30, 2019		December 31, 2018
Excess Spread Financing Assumptions
Discount rate	11.9	%	10.4	%
Prepayment speeds	13.3	%	11.0	%
Recapture rate	22.3	%	18.6	%
Average life	5.7 years		6.5 years

Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets

The following table shows the hypothetical effect on the fair value of the Company’s MSRs when applying certain unfavorable variations of key assumptions to these assets for the dates indicated.



	Successor
	Discount Rate						Total Prepayment Speeds
MSRs - Hypothetical Sensitivities	100 bps Adverse Change			200 bps Adverse Change			10% Adverse Change			20% Adverse Change
September 30, 2019
Mortgage servicing rights	$	(117	)	$	(226	)	$	(164	)	$	(316	)

December 31, 2018
Mortgage servicing rights	$	(137	)	$	(265	)	$	(129	)	$	(250	)

The following table shows the hypothetical effect on the Company’s excess spread financing fair value when applying certain unfavorable variations of key assumptions to these liabilities for the dates indicated.



	Successor
	Discount Rate				Prepayment Speeds
Excess Spread Financing - Hypothetical Sensitivities	100 bps Adverse Change		200 bps Adverse Change		10% Adverse Change		20% Adverse Change
September 30, 2019
Excess spread financing	$	42	$	87	$	44	$	93

December 31, 2018
Excess spread financing	$	47	$	99	$	38	$	81

Schedule of Fees Earned in Exchange for Servicing Financial Assets

The following table sets forth the items comprising revenues associated with servicing loan portfolios.



	Successor									Predecessor
Servicing Revenue	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018			One Month Ended July 31, 2018			Seven Months Ended July 31, 2018
Contractually specified servicing fees⁽¹⁾	$	305		$	893		$	163		$	79		$	574
Other service-related income⁽¹⁾⁽²⁾	51			133			18			10			66
Incentive and modification income⁽¹⁾	12			29			8			4			37
Late fees⁽¹⁾	30			82			14			7			53
Reverse servicing fees	7			24			13			4			37
Mark-to-market adjustments⁽³⁾	(83		)	(607		)	24			25			196
Counterparty revenue share⁽⁴⁾	(86		)	(204		)	(26		)	(16		)	(111		)
Amortization, net of accretion⁽⁵⁾	(73		)	(152		)	(31		)	(16		)	(112		)
Total servicing revenue	$	163		$	198		$	183		$	97		$	740


⁽¹⁾	Amounts include subservicing related revenues.


⁽²⁾	Amount for the nine months ended September 30, 2019 includes a gain of $21 from the execution of a clean-up call option on a reverse mortgage loan trust, as the Company was the master servicer and holder of clean-up call rights.

⁽³⁾

Mark-to-market (“MTM”) adjustments include fair value adjustments on MSR, excess spread financing and MSR financing liabilities. The amount of MSR MTM includes the impact of negative modeled cash flows which have been transferred to reserves on advances and other receivables. The negative modeled cash flows relate to advances and other receivables associated with inactive and liquidated loans that are no longer part of the MSR portfolio. The impact of negative modeled cash flows for the Company was $18, $46, and $13 for the three and nine months ended September 30, 2019 and two months ended September 30, 2018, respectively. The impact of negative modeled cash flows for the Predecessor totaled $4 and $38 for the one and seven months ended July 31, 2018, respectively.


⁽⁴⁾	Counterparty revenue share represents the excess servicing fee that the Company pays to the counterparties under the excess spread financing arrangements and the payments made associated with MSRs financing arrangements.

⁽⁵⁾

Amortization for the Company is net of excess spread accretion of $77 and $172 and MSL accretion of $10 and $39 for the three and nine months ended September 30, 2019, respectively. Amortization for the Company is net of excess spread accretion of $22 for the two months ended September 30, 2018. Amortization of the Predecessor is net of excess spread of $11 and $78 for the one and seven months ended July 31, 2018, respectively. The Predecessor recorded MSL accretion within reverse servicing fees, whereas the Successor has elected to record MSL accretion within amortization, net of accretion.

Advances and Other Receivables, Net (Tables)

9 Months Ended

Sep. 30, 2019

Receivables [Abstract]

Schedule of Accounts Receivable

The following table sets forth the activities of the servicing reserves for advances and other receivables.



	Successor								Predecessor
Reserves for Advances and Other Receivables	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018		One Month Ended July 31, 2018			Seven Months Ended July 31, 2018
Balance - beginning of period	$	98		$	47		$	—	$	294		$	284
Provision and other additions⁽¹⁾	35			102			20		7			69
Write-offs	(3		)	(19		)	—		(4		)	(56		)
Balance - end of period	$	130		$	130		$	20	$	297		$	297

⁽¹⁾

The Company recorded a provision of $18, $46, and $13 through the MTM adjustments in service related revenues for the three and nine months ended September 30, 2019, and two months ended September 30, 2018, respectively. The Predecessor recorded a provision of $4 and $38 through the MTM adjustments in service related revenues for the one and seven months ended July 31, 2018, respectively, for inactive and liquidated loans that are no longer part of the MSR portfolio. Other additions represent reclassifications of required reserves provisioned within other balance sheet accounts as associated serviced loans become inactive or liquidate.

The following table sets forth the activities of the purchase discounts for advances and other receivables.



	Successor
Purchase Discounts - Servicing Advances	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018
Balance - beginning of period	$	156		$	205		$	246
Addition from acquisition	—			19			—
Utilization of purchase discounts	(8		)	(76		)	(19		)
Balance - end of period	$	148		$	148		$	227



	Successor
Purchase Discounts - Receivables from Agencies, Investors and Prior Servicers	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019		Two Months Ended September 30, 2018
Balance - beginning of period	$	48	$	48	$	56
Addition from acquisition	—		—		—
Utilization of purchase discounts	—		—		—
Balance - end of period	$	48	$	48	$	56

Advances and other receivables, net consists of the following.



	Successor
	September 30, 2019			December 31, 2018
Servicing advances, net of $148 and $205 discount, respectively	$	865		$	1,000
Receivables from agencies, investors and prior servicers, net of $48 and $48 discount, respectively	232			241
Reserves	(130		)	(47		)
Total advances and other receivables, net	$	967		$	1,194

Reverse Mortgage Interests, Net (Tables)

9 Months Ended

Sep. 30, 2019

Reverse Mortgage Interests [Abstract]

Schedule of Reverse Mortgage Interest

Reverse mortgage interests, net consists of the following:



	Successor
	September 30, 2019			December 31, 2018
Participating interests in HECM mortgage-backed securities (“HMBS”), including $14 and $58 purchase premium, respectively	$	4,592		$	5,664
Other interests securitized, net of $63 and $100 purchase discount, respectively	879			1,064
Unsecuritized interests, net of $75 and $122 purchase discount, respectively	1,204			1,219
Reserves	(13		)	(13		)
Total reverse mortgage interests, net	$	6,662		$	7,934

The following table sets forth the activities of the servicing reserves for reverse mortgage interests.



	Successor							Predecessor
Reserves for reverse mortgage interests	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018		One Month Ended July 31, 2018		Seven Months Ended July 31, 2018
Balance - beginning of period	$	8	$	13		$	—	$	117	$	115
Provision (release), net	5		7			1		12		32
Write-offs	—		(7		)	—		—		(18		)
Balance - end of period	$	13	$	13		$	1	$	129	$	129

Unsecuritized interests in reverse mortgages consist of the following:



	Successor
	September 30, 2019			December 31, 2018
Repurchased HECM loans (exceeds 98% MCA)	$	874		$	949
HECM related receivables⁽¹⁾	289			300
Funded borrower draws not yet securitized	92			76
REO-related receivables	24			16
Purchase discount, net	(75		)	(122		)
Total unsecuritized interests	$	1,204		$	1,219


⁽¹⁾	HECM related receivables consist primarily of FNMA receivables for corporate advances and service fees and claims receivables from the U.S. Department of Housing and Urban Development (“HUD”).

The following table sets forth the activities of the purchase premiums and discounts for reverse mortgage interests.



	Successor
	Three Months Ended September 30, 2019
Purchase premiums and discounts for reverse mortgage interests	Net Premium for Participating Interests in HMBS⁽¹⁾			Net Discount for Other Interest Securitized⁽¹⁾			Net Discount for Unsecuritized Interests⁽¹⁾
Balance - beginning of period	$	18		$	(84	)	$	(97	)
Utilization of purchase discounts⁽²⁾	—			11			29
(Amortization)/Accretion	(4		)	9			(6		)
Transfers⁽³⁾	—			1			(1		)
Balance - end of period	$	14		$	(63	)	$	(75	)



	Successor
	Nine Months Ended September 30, 2019
Purchase premiums and discounts for reverse mortgage interests	Net Premium for Participating Interests in HMBS⁽¹⁾			Net Discount for Other Interest Securitized⁽¹⁾			Net Discount for Unsecuritized Interests⁽¹⁾
Balance - beginning of period	$	58		$	(100	)	$	(122	)
Adjustments⁽⁴⁾	(16		)	(2		)	(6		)
Utilization of purchase discounts⁽²⁾	—			24			56
(Amortization)/Accretion	(41		)	22			3
Transfers⁽³⁾	13			(7		)	(6		)
Balance - end of period	$	14		$	(63	)	$	(75	)



	Successor
	Two Months Ended September 30, 2018
Purchase premiums and discounts for reverse mortgage interests	Net Premium for Participating Interests in HMBS⁽¹⁾			Net Discount for Other Interest Securitized⁽¹⁾			Net Discount for Unsecuritized Interests⁽¹⁾
Balance - beginning of period	$	58		$	(117	)	$	(161	)
(Amortization)/Accretion	(3		)	—			10
Balance - end of period	$	55		$	(117	)	$	(151	)


⁽¹⁾	Net position as certain items are in a premium/(discount) position, based on the characteristics of underlying tranches of loans.


⁽²⁾	Utilization of purchase discounts to mitigate loss on liquidated loans, for which the remaining receivable was written-off.


⁽³⁾	Transfer of premium/(discount) based on the transfer of associated loans between categories consistent with the underlying loan characteristics.


⁽⁴⁾	Adjustments to premium/(discount) due to revised cost to service assumption utilized in the valuation of reverse mortgage assets and liabilities acquired from the Merger. See Note 2, Acquisitions for additional information.

In connection with previous reverse mortgage portfolio acquisitions, the Predecessor recorded a purchase discount within Unsecuritized Interests. The following table sets forth the activities of the purchase discount for reverse mortgage interests.



	Predecessor
Purchase discount for reverse mortgage interests	One Month Ended July 31, 2018			Seven Months Ended July 31, 2018
Balance - beginning of period	$	(84	)	$	(89	)
Additions	—			(7		)
Accretion	2			14
Balance - end of period	$	(82	)	$	(82	)

Mortgage Loans Held for Sale and Investment (Tables)

9 Months Ended

Sep. 30, 2019

Mortgage Loans Held for Sale and Investment [Abstract]

Schedule of Mortgage Loans Held-for-Sale

Mortgage loans held for sale are recorded at fair value as set forth below.



	Successor
	September 30, 2019		December 31, 2018
Mortgage loans held for sale – UPB	$	4,110	$	1,568
Mark-to-market adjustment⁽¹⁾	157		63
Total mortgage loans held for sale	$	4,267	$	1,631


⁽¹⁾	The mark-to-market adjustment is recorded in net gain on mortgage loans held for sale in the consolidated statements of operations.

The total UPB of mortgage loans held for sale on non-accrual status was as follows:



	Successor
	September 30, 2019				December 31, 2018
Mortgage Loans Held for Sale - UPB	UPB		Fair Value		UPB		Fair Value
Non-accrual⁽¹⁾	$	31	$	26	$	45	$	42


⁽¹⁾	Non-accrual includes $26 and $40 of UPB related to Ginnie Mae repurchased loans as of September 30, 2019 and December 31, 2018, respectively.

Schedule of Reconciliation of Mortgage Loans Held-for-Sale to Cash Flow

The following table sets forth the activities of mortgage loans held for sale.



	Successor						Predecessor
Mortgage loans held for sale	Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018			Seven Months Ended July 31, 2018
Balance - beginning of period	$	1,631		$	1,514		$	1,891
Mortgage loans originated and purchased, net of fees⁽¹⁾	28,199			3,459			12,319
Loans sold	(27,430		)	(3,508		)	(13,255		)
Repurchase of loans out of Ginnie Mae securitizations	1,823			223			544
Net transfers of mortgage loans held for sale to/from REO in other assets and transfer from mortgage loans held for investment⁽²⁾⁽³⁾	15			4			14
Changes in fair value	19			(8		)	(1		)
Other purchase-related activities⁽⁴⁾	10			(1		)	9
Transfer of mortgage loans held for sale to advances and other receivables, net related to claims⁽⁵⁾	—			(2		)	(7		)
Balance - end of period	$	4,267		$	1,681		$	1,514


⁽¹⁾	Mortgage loans originated and purchased during the nine months ended September 30, 2019 includes $536 of loans held for sale that were acquired from Pacific Union. See Note 2, Acquisitions for further discussion.


⁽²⁾	Net amounts are comprised of REO in the sales process, which are transferred to other assets, and certain government insured mortgage REO, which are transferred from other assets upon completion of the sale so that the claims process can begin.


⁽³⁾	Amount for the nine months ended September 30, 2019 includes $12 transfer from mortgage loans held for investment upon collapse of Trust 2009-A, the Company’s legacy portfolio, and sale of the loans held in the trust. See mortgage loans held for investment discussed in section below for additional information.


⁽⁴⁾	Amounts are comprised primarily of non-Ginnie Mae loan purchases and buyouts.


⁽⁵⁾	Amounts are comprised of claims made on certain government insured mortgage loans upon completion of the REO sale.

Schedule of Loans Held for Investment

The following table sets forth the activities of mortgage loans held for investment.



	Successor
Mortgage loans held for investment at fair value	Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018
Balance - beginning of period	$	119		$	125
Sale of mortgage loans	(94		)	—
Transfers to mortgage loans held for sale	(12		)	—
Payments received from borrowers	(11		)	(2		)
Transfers to real estate owned	(5		)	—
Changes in fair value⁽¹⁾	3			—
Losses incurred	—			(1		)
Balance - end of period	$	—		$	122


⁽¹⁾	The changes in fair value during the two months ended September 30, 2018, is less than $1.

The following sets forth the composition of mortgage loans held for investment as of December 31, 2018.



	Successor
	December 31, 2018
Mortgage loans held for investment – UPB	$	156
Fair value adjustments	(37		)
Total mortgage loans held for investment at fair value	$	119

The total UPB of mortgage loans held for investment on non-accrual status was as follows.



	Successor
	December 31, 2018
Mortgage Loans Held for Investment - UPB	UPB		Fair Value
Non-accrual	$	27	$	13

Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Schedule of Lease costs

The table below summarizes the Company’s net lease cost:



	Successor
	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Operating lease cost	$	10		$	29
Short-term lease cost⁽¹⁾	—			1
Sublease income	(1		)	(2		)
Net lease cost	$	9		$	28


⁽¹⁾	Amount for three months ended September 30, 2019 is less than $1.

The table below summarizes other information related to the Company’s operating leases:



	Successor
	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8		$	21
Leased assets obtained in exchange for new operating lease liabilities⁽¹⁾	$	(5	)	$	150
Weighted average remaining lease term - operating leases, in years	5.7			5.7
Weighted average discount rate - operating leases	5.0		%	5.0		%


⁽¹⁾	The reduction in the three months ended September 30, 2019 is due to a modification of lease agreements.

Schedule of Lease Maturity, Operating

Maturities of operating lease liabilities as of September 30, 2019 are as follows:



Year Ending December 31,	Operating Leases
2019⁽¹⁾	$	10
2020	39
2021	30
2022	22
2023	16
2024 and thereafter	45
Total future minimum lease payments	162
Less: imputed interest	25
Total operating lease liabilities	$	137


⁽¹⁾	Excluding the nine months ended September 30, 2019.

Other Assets (Tables)

9 Months Ended

Sep. 30, 2019

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets

Other assets consist of the following:



	Successor
	September 30, 2019		December 31, 2018
Loans subject to repurchase from Ginnie Mae	$	629	$	266
Trade receivables and accrued revenues	142		145
Right-of-use assets	126		—
Goodwill	120		23
Intangible assets	93		117
Other	339		244
Total other assets	$	1,449	$	795

Schedule of Goodwill

The table below presents changes in the carrying amount of goodwill for the nine months ended September 30, 2019.



	Successor
	Nine Months Ended September 30, 2019
Balance - beginning of period	$	23
Additions from acquisitions⁽¹⁾	42
Measurement period adjustment related to Merger⁽²⁾	55
Balance - end of period	$	120

⁽¹⁾

As discussed in Note 2, Acquisitions, the Company recorded goodwill of $40 in connection with the acquisition of Pacific Union. In addition, on February 28, 2019, the Company completed the acquisition of the Seterus mortgage servicing platform and assumed certain assets related thereto from IBM (“Seterus acquisition”). In connection with the Seterus acquisition, the Company recorded $2 in goodwill.


⁽²⁾	The Company recorded a total measurement period adjustment of $55 to goodwill in 2019 related to the acquisition of Nationstar. See further discussion in Note 2, Acquisitions

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table provides the outstanding notional balances, fair values of outstanding positions and recorded gains/(losses).



		Successor
		September 30, 2019				Nine Months Ended September 30, 2019
	Expiration Dates	Outstanding Notional		Fair Value		Recorded Gains/(Losses)
Assets
Mortgage loans held for sale
Loan sale commitments	2019	$	1,508	$	35.3	$	9.4
Derivative financial instruments
IRLCs	2019	4,964		143.9		84.1
Forward MBS trades	2019	3,054		7.7		5.9
LPCs	2019	1,397		18.2		16.5
Eurodollar futures⁽¹⁾	2020-2021	6		—		—
Liabilities
Derivative financial instruments
IRLCs⁽¹⁾	2019	15		—		—
Forward MBS trades	2019	5,667		15.9		(8.0		)
LPCs	2019	547		3.1		2.7
Eurodollar futures⁽¹⁾	2019-2021	8		—		—



		Successor							Predecessor
		September 30, 2018				Two Months Ended September 30, 2018			Seven Months Ended July 31, 2018
	Expiration Dates	Outstanding Notional		Fair Value		Recorded Gains/(Losses)
Assets
Mortgage loans held for sale
Loan sale commitments	2018	$	428	$	6.9	$	(3.7	)	$	10.5
Derivative financial instruments
IRLCs	2018	1,765		57.8		(1.8		)	0.4
Forward MBS trades	2018	3,040		12.2		9.0			0.9
LPCs	2018	228		1.7		0.5			0.3
Treasury futures	2018	65		—		—			(1.8		)
Eurodollar futures⁽¹⁾	2018-2021	20		—		—			—
Liabilities
Derivative financial instruments
IRLCs⁽¹⁾	2018	3		—		—			—
Forward MBS trades	2018	413		0.5		(1.4		)	(1.0		)
LPCs	2018	320		1.5		0.9			0.1
Treasury futures⁽¹⁾	2018	53		0.1		0.1			(1.3		)
Eurodollar futures⁽¹⁾	2020-2021	6		—		—			—


⁽¹⁾	Fair values or recorded gains/(losses) of derivative instruments are less than $0.1 for the specified dates.

Indebtedness (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of Notes Payable

Notes Payable



						Successor
						September 30, 2019				December 31, 2018
Advance Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding		Collateral Pledged		Outstanding		Collateral pledged
$325 advance facility	LIBOR + 1.5% to 6.5%	August 2021	Servicing advance receivables	$	325	$	233	$	294	$	209	$	284
$250 advance facility	LIBOR + 1.5% to 2.6%	December 2020	Servicing advance receivables	250		142		173		218		255
$200 advance facility	LIBOR + 2.5%	December 2019	Servicing advance receivables	200		64		125		90		149
$125 advance facility	LIBOR + 1.5% to 7.4%	July 2020	Servicing advance receivables	125		74		84		78		89
Advance facilities principal amount						513		$	676	595		$	777
Unamortized debt issuance costs						—				—
Advance facilities, net						$	513			$	595



						Successor
						September 30, 2019					December 31, 2018
Warehouse Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding			Collateral pledged		Outstanding			Collateral pledged
$1,500 warehouse facility	LIBOR + 1.0%	June 2020	Mortgage loans or MBS	$	1,500	$	970		$	938	$	—		$	—
$1,200 warehouse facility	LIBOR + 1.7% to 3.5%	November 12, 2019	Mortgage loans or MBS	1,200		734			779		560			622
$1,000 warehouse facility	LIBOR + 1.4% to 2.3%	September 2020	Mortgage loans or MBS	1,000		521			536		137			140
$800 warehouse facility⁽¹⁾	LIBOR + 1.5% to 2.9%	April 2020	Mortgage loans or MBS	800		586			643		464			514
$750 warehouse facility	LIBOR + 1.4% to 2.8%	September 2020	Mortgage loans or MBS	750		511			524		119			122
$600 warehouse facility	LIBOR + 2.3%	February 2020	Mortgage loans or MBS	600		214			251		151			168
$500 warehouse facility	LIBOR + 1.5% to 2.8%	November 14, 2019	Mortgage loans or MBS	500		405			474		220			248
$500 warehouse facility	LIBOR + 1.5% to 3.0%	April 2020	Mortgage loans or MBS	500		391			400		187			200
$200 warehouse facility	LIBOR + 1.5%	December 2019	Mortgage loans or MBS	200		91			92		—			—
$200 warehouse facility	LIBOR + 1.2%	April 2021	Mortgage loans or MBS	200		91			94		18			19
$200 warehouse facility	LIBOR + 2.0%	January 2020	Mortgage loans or MBS	200		67			94		103			132
$200 warehouse facility	LIBOR + 1.5%	October 2020	Mortgage loans or MBS	200		21			21		—			—
$50 warehouse facility	LIBOR + 2.0% to 6.0%	April 2020	Mortgage loans or MBS	50		13			16		—			—
$40 warehouse facility	LIBOR + 3.3%	September 2020	Mortgage loans or MBS	40		27			28		—			—
$40 warehouse facility	LIBOR + 3.0%	November 29, 2019	Mortgage loans or MBS	40		1			2		1			2
$500 warehouse facility⁽²⁾	LIBOR + 2.0% to 2.3%	September 2020	Mortgage loans or MBS	—		—			—		290			299
Warehouse facilities principal amount						4,643			4,892		2,250			2,466
MSR Facility
$400 warehouse facility	LIBOR + 3.5% to 6.1%	June 2021	MSR	400		150			839		100			928
$400 warehouse facility	LIBOR + 2.3%	December 2020	MSR	400		—			193		—			226
$150 warehouse facility⁽¹⁾	LIBOR + 2.8%	April 2020	MSR	150		—			121		—			430
$50 warehouse facility	LIBOR + 2.8%	August 2020	MSR	50		10			84		—			102
						160			1,237		100			1,686
Warehouse and MSR facilities principal amount						4,803			$	6,129	2,350			$	4,152

Unamortized debt issuance costs						(1		)			(1		)
Warehouse facilities, net						$	4,802				$	2,349

Pledged Collateral:
Mortgage loans and mortgage loans held for investment						$	3,980		$	4,119	$	1,528		$	1,628
Reverse mortgage interests						663			773		722			838
MSR						160			1,237		100			1,686


⁽¹⁾	Total capacity amount for this facility is $800 of which $150 is a sublimit for MSR financing.


⁽²⁾	This facility was terminated during August 2019.

Schedule of Unsecured Senior Notes

Unsecured senior notes consist of the following:



	Successor
	September 30, 2019			December 31, 2018
$950 face value, 8.125% interest rate payable semi-annually, due July 2023	$	950		$	950
$750 face value, 9.125% interest rate payable semi-annually, due July 2026	750			750
$600 face value, 6.500% interest rate payable semi-annually, due July 2021⁽¹⁾	592			592
$300 face value, 6.500% interest rate payable semi-annually, due June 2022	206			206
Unsecured senior notes principal amount	2,498			2,498
Unamortized debt issuance costs, premium and discount	(34		)	(39		)
Unsecured senior notes, net	$	2,464		$	2,459


⁽¹⁾	This note was subsequently paid down by $100 in principal balance in October 2019.

Schedule of Maturities of Long-term Debt

As of September 30, 2019, the expected maturities of the Company’s unsecured senior notes based on contractual maturities are as follows:



Year Ending December 31,	Amount
2019	$	—
2020	—
2021⁽¹⁾	592
2022	206
2023	950
Thereafter	750
Total unsecured senior notes principal amount	$	2,498


⁽¹⁾	This note does not include the subsequent pay down of $100 in principal balance in October 2019.

Schedule of Other Nonrecourse Debt

Other nonrecourse debt consists of the following:



						Successor
						September 30, 2019		December 31, 2018
	Issue Date	Maturity Date	Class of Note	Securitized Amount		Outstanding		Outstanding
Participating interest financing⁽¹⁾	—	—	—	$	—	$	4,581	$	5,607
Securitization of nonperforming HECM loans
Trust 2017-2⁽²⁾	September 2017	September 2027	A, M1, M2	—		—		231
Trust 2018-1	March 2018	March 2028	A, M1, M2, M3, M4, M5	232		201		284
Trust 2018-2	August 2018	August 2028	A, M1, M2, M3, M4, M5	179		161		250
Trust 2018-3	November 2018	November 2028	A, M1, M2, M3, M4, M5	254		239		326
Trust 2019-1	June 2019	June 2029	A, M1, M2, M3, M4, M5	347		339		—
Nonrecourse Debt - Legacy⁽³⁾	November 2009	October 2039	A	—		—		29
Other nonrecourse debt principal amount						5,521		6,727
Unamortized debt issuance costs, premium and discount						12		68
Other nonrecourse debt, net						$	5,533	$	6,795


⁽¹⁾	Amounts represent the Company’s participating interest in GNMA HMBS securitized portfolios.


⁽²⁾	As discussed in Note 5, Reverse Mortgage Interests, Net, Trust 2017-2 was extinguished.


⁽³⁾	As discussed in Note 6, Mortgage Loans Held for Sale and Investment, Trust 2009-A, the Company’s legacy portfolio, was collapsed and the related debt was extinguished during September 2019.

Payables and Other Liabilities (Tables)

9 Months Ended

Sep. 30, 2019

Payables and Accruals [Abstract]

Schedule of Payables and Accrued Liabilities

Payables and other liabilities consist of the following:



	Successor
	September 30, 2019		December 31, 2018
Loans subject to repurchase from Ginnie Mae	$	629	$	266
Payables to servicing and subservicing investors	523		494
Operating lease liability	137		—
Payables to GSEs and securitized trusts	126		105
MSR purchases payable including advances	21		182
Other liabilities	566		496
Total payables and other liabilities	$	2,002	$	1,543

Schedule of Loans Subject to Repurchase Reserve

The following table sets forth the activities of repurchase reserves.



	Successor									Predecessor
Repurchase Reserves	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018			One Month Ended July 31, 2018		Seven Months Ended July 31, 2018
Balance - beginning of period	$	23		$	8		$	9		$	9	$	9
Provisions⁽¹⁾	5			21			1			—		3
Releases	(4		)	(5		)	(1		)	—		(3		)
Balance - end of period	$	24		$	24		$	9		$	9	$	9


⁽¹⁾	Provision for the three and nine months ended September 30, 2019 is primarily due to repurchase reserve liabilities assumed in connection with the acquisition of Pacific Union. See Note 2, Acquisitions for additional information.

Securitizations and Financings (Tables)

9 Months Ended

Sep. 30, 2019

Variable Interest Entities and Securitizations [Abstract]

Schedule of Assets and Liabilities of VIEs Included in Financial Statements

A summary of the assets and liabilities of the Company’s transactions with VIEs included in the Company’s consolidated financial statements is presented below.



	Successor
	September 30, 2019				December 31, 2018
	Transfers Accounted for as Secured Borrowings		Reverse Secured Borrowings		Transfers Accounted for as Secured Borrowings		Reverse Secured Borrowings
Assets
Restricted cash	$	70	$	46	$	70	$	63
Reverse mortgage interests, net⁽¹⁾	—		5,471		—		6,728
Advances and other receivables, net	552		—		628		—
Mortgage loans held for investment, net⁽²⁾	—		—		118		—
Total assets	$	622	$	5,517	$	816	$	6,791

Liabilities
Advance facilities⁽³⁾	$	449	$	—	$	505	$	—
Payables and other liabilities	1		1		1		1
Participating interest financing	—		4,581		—		5,607
HECM Securitizations (HMBS)
Trust 2017-2	—		—		—		231
Trust 2018-1	—		201		—		284
Trust 2018-2	—		161		—		250
Trust 2018-3	—		239		—		326
Trust 2019-1	—		339		—		—
Nonrecourse debt – legacy assets⁽²⁾	—		—		29		—
Total liabilities	$	450	$	5,522	$	535	$	6,699


⁽¹⁾	Amounts include net purchase discount of $49 and $42 as of September 30, 2019 and December 31, 2018, respectively.


⁽²⁾	The Nationstar Home Equity Loan Trust 2009-A was collapsed in September 2019. Refer to Mortgage Loans Held for Investment in Note 6, Mortgage Loans Held for Sale and Investment, for additional information.


⁽³⁾	Amounts include the Nationstar agency advance financing facility and notes payable recorded by the Nationstar Mortgage Advance Receivable Trust, and the Nationstar Agency Advance Receivables Trust. Refer to Notes Payable in Note 10, Indebtedness, for additional information.

The following table shows a summary of the outstanding collateral and certificate balances for securitization trusts for which the Company was the transferor, including any retained beneficial interests and MSRs, that were not consolidated by the Company.



	Successor
	September 30, 2019		December 31, 2018
Total collateral balances - UPB	$	1,553	$	1,873
Total certificate balances	$	1,562	$	1,817

A summary of mortgage loans transferred by the Company to unconsolidated securitization trusts that are 60 days or more past due are presented below.



	Successor
Principal Amount of Loans 60 Days or More Past Due	September 30, 2019		December 31, 2018
Unconsolidated securitization trusts	$	204	$	285

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

The following table sets forth the computation of basic and diluted net (loss) income per common share (amounts in millions, except per share amounts).



	Successor							Predecessor
	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018		One Month Ended July 31, 2018			Seven Months Ended July 31, 2018
Net income (loss) attributable to Successor/Predecessor	$	84	$	(189	)	$	1,020	$	(64	)	$	154
Less: Undistributed earnings attributable to participating stockholders	1		—			9		—			—
Net income (loss) attributable to common stockholders	$	83	$	(189	)	$	1,011	$	(64	)	$	154

Net income (loss) per common share attributable to Successor/Predecessor:
Basic	$	0.91	$	(2.08	)	$	11.13	$	(0.65	)	$	1.57
Diluted	$	0.90	$	(2.08	)	$	10.99	$	(0.65	)	$	1.55

Weighted average shares of common stock outstanding (in thousands):
Basic	91,080		91,012			90,808		98,164			98,046
Dilutive effect of stock awards	117		—			345		—			1,091
Dilutive effect of participating securities	839		—			839		—			—
Diluted	92,036		91,012			91,992		98,164			99,137

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax (benefit) expense were as follows:



	Successor									Predecessor
	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019			Two Months Ended September 30, 2018			One Month Ended July 31, 2018			Seven Months Ended July 31, 2018
Income (loss) before income tax expense (benefit)	$	107		$	(243	)	$	41		$	(83	)	$	202

Income tax expense (benefit)	$	24		$	(52	)	$	(979	)	$	(19	)	$	48

Effective tax rate⁽¹⁾	22.3		%	21.5		%	(2,377.1		)%	23.1		%	23.8		%


⁽¹⁾	Effective tax rate is calculated using whole numbers.

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the estimated carrying amount and fair value of the Company’s financial instruments and other assets and liabilities measured at fair value on a recurring basis.



	Successor
	September 30, 2019
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans held for sale	$	4,267.2	$	—	$	4,267.2	$	—
Forward mortgage servicing rights	3,338.5		—		—		3,338.5
Derivative financial instruments
IRLCs	143.9		—		143.9		—
Forward MBS trades	7.7		—		7.7		—
LPCs	18.2		—		18.2		—
Eurodollar futures⁽¹⁾	—		—		—		—
Total assets	$	7,775.5	$	—	$	4,437.0	$	3,338.5
Liabilities
Derivative financial instruments
IRLCs⁽¹⁾	$	—	$	—	$	—	$	—
Forward MBS trades	15.9		—		15.9		—
LPCs	3.1		—		3.1		—
Eurodollar futures⁽¹⁾	—		—		—		—
Mortgage servicing rights financing	46.9		—		—		46.9
Excess spread financing	1,280.8		—		—		1,280.8
Total liabilities	$	1,346.7	$	—	$	19.0	$	1,327.7



	Successor
	December 31, 2018
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans held for sale	$	1,630.8	$	—	$	1,630.8	$	—
Mortgage loans held for investment	119.1		—		—		119.1
Forward mortgage servicing rights	3,665.4		—		—		3,665.4
Derivative financial instruments
IRLCs	47.6		—		47.6		—
Forward MBS trades	0.1		—		0.1		—
LPCs	1.7		—		1.7		—
Eurodollar futures⁽¹⁾	—		—		—		—
Total assets	$	5,464.7	$	—	$	1,680.2	$	3,784.5
Liabilities
Derivative financial instruments
Forward MBS trades	$	19.3	$	—	$	19.3	$	—
LPCs	0.4		—		0.4		—
Eurodollar futures⁽¹⁾	—		—		—		—
Mortgage servicing rights financing	31.7		—		—		31.7
Excess spread financing	1,184.4		—		—		1,184.4
Total liabilities	$	1,235.8	$	—	$	19.7	$	1,216.1


⁽¹⁾	Fair values of the underlying assets and liabilities are less than $0.1 for the specified dates.

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The table below presents a reconciliation for all of the Company and Predecessor’s Level 3 assets and liabilities measured at fair value on a recurring basis.



	Successor
	Assets						Liabilities
Nine Months Ended September 30, 2019	Mortgage servicing rights			Mortgage loans held for investment			Excess spread financing			Mortgage servicing rights financing
Balance - beginning of period	$	3,665		$	119		$	1,184		$	32
Total gains or losses included in earnings	(1,039		)	3			(190		)	15
Payments received from borrowers	—			(11		)	—			—
Purchases, issuances, sales, repayments and settlements
Purchases	732			—			—			—
Issuances	298			—			469			—
Sales	(317		)	(94		)	—			—
Repayments	—			—			(19		)	—
Settlements	—			—			(163		)	—
Transfers to mortgage loans held for sale	—			(12		)	—			—
Transfers to real estate owned	—			(5		)	—			—
Balance - end of period	$	3,339		$	—		$	1,281		$	47



	Successor
	Assets						Liabilities
Two Months Ended September 30, 2018	Mortgage servicing rights			Mortgage loans held for investment			Excess spread financing			Mortgage servicing rights financing
Balance - beginning of period	$	3,413		$	125		$	1,039		$	26
Total gains or losses included in earnings	20			(1		)	26			—
Payments received from borrowers	—			(2		)	—			—
Purchases, issuances, sales, repayments and settlements
Purchases	72			—			—			—
Issuances	43			—			84			—
Sales	(63		)	—			—			—
Repayments	—			—			(21		)	—
Settlements	—			—			(31		)	—
Balance - end of period	$	3,485		$	122		$	1,097		$	26



	Predecessor
	Assets		Liabilities
Seven Months Ended July 31, 2018	Mortgage servicing rights		Excess spread financing			Mortgage servicing rights financing
Balance - beginning of period	$	2,937	$	996		$	10
Total gains or losses included in earnings	166		81			16
Purchases, issuances, sales, repayments and settlements
Purchases	144		—			—
Issuances	162		70			—
Sales	4		—			—
Repayments	—		(3		)	—
Settlements	—		(105		)	—
Balance - end of period	$	3,413	$	1,039		$	26

Schedule of Fair Value, by Balance Sheet Grouping

The table below presents a summary of the estimated carrying amount and fair value of the Company’s financial instruments.



	Successor
	September 30, 2019
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	371	$	371	$	—	$	—
Restricted cash	271		271		—		—
Advances and other receivables, net	967		—		—		967
Reverse mortgage interests, net	6,662		—		—		6,726
Mortgage loans held for sale	4,267		—		4,267		—
Derivative financial instruments	170		—		170		—
Financial liabilities
Unsecured senior notes	2,464		2,592		—		—
Advance facilities	513		—		513		—
Warehouse facilities	4,802		—		4,802		—
Mortgage servicing rights financing liability	47		—		—		47
Excess spread financing	1,281		—		—		1,281
Derivative financial instruments	19		—		19		—
Participating interest financing	4,593		—		—		4,590
HECM Securitization (HMBS)
Trust 2018-1	201		—		—		201
Trust 2018-2	161		—		—		161
Trust 2018-3	239		—		—		239
Trust 2019-1	339		—		—		339



	Successor
	December 31, 2018
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	242	$	242	$	—	$	—
Restricted cash	319		319		—		—
Advances and other receivables, net	1,194		—		—		1,194
Reverse mortgage interests, net	7,934		—		—		7,934
Mortgage loans held for sale	1,631		—		1,631		—
Mortgage loans held for investment	119		—		—		119
Derivative financial instruments	49		—		49		—
Financial liabilities
Unsecured senior notes	2,459		2,451		—		—
Advance facilities	595		—		595		—
Warehouse facilities	2,349		—		2,349		—
Mortgage servicing rights financing liability	32		—		—		32
Excess spread financing	1,184		—		—		1,184
Derivative financial instruments	20		—		20		—
Participating interest financing	5,675		—		—		5,672
HECM Securitization (HMBS)
Trust 2017-2	231		—		—		230
Trust 2018-1	284		—		—		284
Trust 2018-2	250		—		—		249
Trust 2018-3	326		—		—		326
Nonrecourse debt - legacy assets	29		—		—		28

Business Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables present financial information by segment.



	Successor
	Three Months Ended September 30, 2019
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	163		$	22		$	112	$	(39	)	$	258		$	—		$	258
Net gain on mortgage loans held for sale	—			312			—		37			349			11			360
Total revenues	163			334			112		(2		)	607			11			618
Total Expenses	171			155			101		(2		)	425			53			478
Other income (expenses)
Interest income	137			24			—		—			161			2			163
Interest expense	(120		)	(24		)	—		—			(144		)	(52		)	(196		)
Other	—			(1		)	3		—			2			(2		)	—
Total Other Income (Expenses), Net	17			(1		)	3		—			19			(52		)	(33		)
Income (loss) before income tax expense (benefit)	$	9		$	178		$	14	$	—		$	201		$	(94	)	$	107
Depreciation and amortization for property and equipment and intangible assets	$	5		$	4		$	4	$	—		$	13		$	9		$	22
Total assets	$	12,049		$	8,450		$	515	$	(4,650	)	$	16,364		$	2,114		$	18,478



	Successor
	Two Months Ended September 30, 2018
	Servicing			Originations			Xome			Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	183		$	10		$	73		$	(7	)	$	259		$	—		$	259
Net gain on mortgage loans held for sale	—			76			—			7			83			—			83
Total revenues	183			86			73			—			342			—			342
Total Expenses	104			66			71			—			241			34			275
Other income (expenses)
Interest income	78			10			—			—			88			2			90
Interest expense	(74		)	(10		)	(1		)	—			(85		)	(37		)	(122		)
Other	5			1			—			—			6			—			6
Total Other Income (Expenses), Net	9			1			(1		)	—			9			(35		)	(26		)
Income (loss) before income tax expense (benefit)	$	88		$	21		$	1		$	—		$	110		$	(69	)	$	41
Depreciation and amortization for property and equipment and intangible assets	$	4		$	2		$	2		$	—		$	8		$	7		$	15
Total assets	$	14,166		$	4,892		$	457		$	(3,532	)	$	15,983		$	1,745		$	17,728



	Predecessor
	One Month Ended July 31, 2018
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	97		$	4		$	22	$	(3	)	$	120		$	—		$	120
Net gain on mortgage loans held for sale	—			41			—		3			44			—			44
Total revenues	97			45			22		—			164			—			164
Total Expenses	126			34			19		—			179			63			242
Other income (expenses)
Interest income	41			6			—		—			47			1			48
Interest expense	(35		)	(6		)	—		—			(41		)	(12		)	(53		)
Other	—			—			—		—			—			—			—
Total Other Income (Expenses), Net	6			—			—		—			6			(11		)	(5		)
Income (loss) before income tax expense (benefit)	$	(23	)	$	11		$	3	$	—		$	(9	)	$	(74	)	$	(83	)
Depreciation and amortization for property and equipment and intangible assets	$	2		$	1		$	1	$	—		$	4		$	—		$	4
Total assets	$	14,578		$	4,701		$	425	$	(3,591	)	$	16,113		$	913		$	17,026



	Successor
	Nine Months Ended September 30, 2019
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	198		$	57		$	316	$	(92	)	$	479		$	—		$	479
Net gain on mortgage loans held for sale	—			687			—		90			777			11			788
Total revenues	198			744			316		(2		)	1,256			11			1,267
Total Expenses	555			404			301		(2		)	1,258			155			1,413
Other income (expenses)
Interest income	388			64			—		—			452			7			459
Interest expense	(343		)	(67		)	—		—			(410		)	(162		)	(572		)
Other	—			4			14		—			18			(2		)	16
Total Other Income (Expenses), Net	45			1			14		—			60			(157		)	(97		)
(Loss) income before income tax (benefit) expense	$	(312	)	$	341		$	29	$	—		$	58		$	(301	)	$	(243	)
Depreciation and amortization for property and equipment and intangible assets	$	13		$	13		$	11	$	—		$	37		$	30		$	67
Total assets	$	12,049		$	8,450		$	515	$	(4,650	)	$	16,364		$	2,114		$	18,478



	Predecessor
	Seven Months Ended July 31, 2018
	Servicing			Originations			Xome		Elimination/ Reclassification⁽¹⁾			Total Operating Segments			Corporate/Other			Consolidated
Revenues
Service related, net	$	740		$	36		$	149	$	(25	)	$	900		$	1		$	901
Net gain on mortgage loans held for sale	—			270			—		25			295			—			295
Total revenues	740			306			149		—			1,195			1			1,196
Total Expenses	474			245			123		—			842			103			945
Other income (expenses)
Interest income	288			38			—		—			326			7			333
Interest expense	(268		)	(37		)	—		—			(305		)	(83		)	(388		)
Other	(1		)	—			9		—			8			(2		)	6
Total Other Income (Expenses), Net	19			1			9		—			29			(78		)	(49		)
Income (loss) before income tax expense (benefit)	$	285		$	62		$	35	$	—		$	382		$	(180	)	$	202
Depreciation and amortization for property and equipment and intangible assets	$	15		$	7		$	7	$	—		$	29		$	4		$	33
Total assets	$	14,578		$	4,701		$	425	$	(3,591	)	$	16,113		$	913		$	17,026

⁽¹⁾

For Servicing segment results purposes, all revenue is attributable to servicing portfolio. Therefore, $37, $7, $3, $90, and $25 of net gain on mortgage loans is moved to service related, net during the three months ended September 30, 2019, two months ended September 30, 2018, one month ended July 31, 2018, nine months ended September 30, 2019, and seven months ended July 31, 2018, respectively. For consolidated results purposes, these amounts were reclassed back to net gain on mortgage loans held for sale.

Guarantor Financial Statement Information (Tables)

9 Months Ended

Sep. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Consolidating Balance Sheet

MR. COOPER GROUP INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2018

	Successor
	Mr. Cooper		Issuer⁽¹⁾		Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—	$	193	$	1	$	48		$	—		$	242
Restricted cash	—		186		—		133			—			319
Mortgage servicing rights	—		3,644		—		32			—			3,676
Advances and other receivables, net	—		1,194		—		—			—			1,194
Reverse mortgage interests, net	—		6,770		—		1,164			—			7,934
Mortgage loans held for sale at fair value	—		1,631		—		—			—			1,631
Mortgage loans held for investment at fair value	—		1		—		118			—			119
Property and equipment, net	—		84		—		12			—			96
Deferred tax asset, net	973		—		—		(6		)	—			967
Other assets	—		660		202		621			(688		)	795
Investment in subsidiaries	2,820		601		—		—			(3,421		)	—
Total assets	$	3,793	$	14,964	$	203	$	2,122		$	(4,109	)	$	16,973

Liabilities and Stockholders’ Equity
Unsecured senior notes, net	$	1,660	$	799	$	—	$	—		$	—		$	2,459
Advance facilities, net	—		90		—		505			—			595
Warehouse facilities, net	—		2,349		—		—			—			2,349
Payables and other liabilities	49		1,413		1		80			—			1,543
MSR related liabilities - nonrecourse at fair value	—		1,197		—		19			—			1,216
Mortgage servicing liabilities	—		71		—		—			—			71
Other nonrecourse debt, net	—		5,676		—		1,119			—			6,795
Payables to affiliates	139		549		—		—			(688		)	—
Total liabilities	1,848		12,144		1		1,723			(688		)	15,028
Total stockholders’ equity	1,945		2,820		202		399			(3,421		)	1,945
Total liabilities and stockholders’ equity	$	3,793	$	14,964	$	203	$	2,122		$	(4,109	)	$	16,973


⁽¹⁾	Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING BALANCE SHEET SEPTEMBER 30, 2019

	Successor
	Mr. Cooper		Issuer⁽¹⁾		Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—	$	331	$	1	$	39	$	—		$	371
Restricted cash	—		155		—		116		—			271
Mortgage servicing rights	—		3,322		—		24		—			3,346
Advances and other receivables, net	—		966		—		1		—			967
Reverse mortgage interests, net	—		5,733		—		929		—			6,662
Mortgage loans held for sale at fair value	—		4,267		—		—		—			4,267
Property and equipment, net	—		94		—		19		—			113
Deferred tax asset, net	984		46		—		2		—			1,032
Other assets	—		1,317		213		814		(895		)	1,449
Investment in subsidiaries	2,612		682		—		—		(3,294		)	—
Total assets	$	3,596	$	16,913	$	214	$	1,944	$	(4,189	)	$	18,478

Liabilities and Stockholders’ Equity
Unsecured senior notes, net	$	1,665	$	799	$	—	$	—	$	—		$	2,464
Advance facilities, net	—		64		—		449		—			513
Warehouse facilities, net	—		4,802		—		—		—			4,802
Payables and other liabilities	23		1,905		2		72		—			2,002
MSR related liabilities - nonrecourse at fair value	—		1,313		—		15		—			1,328
Mortgage servicing liabilities	—		69		—		—		—			69
Other nonrecourse debt, net	—		4,596		—		937		—			5,533
Payables to affiliates	141		753		—		1		(895		)	—
Total liabilities	1,829		14,301		2		1,474		(895		)	16,711
Total stockholders’ equity	1,767		2,612		212		470		(3,294		)	1,767
Total liabilities and stockholders’ equity	$	3,596	$	16,913	$	214	$	1,944	$	(4,189	)	$	18,478


⁽¹⁾	Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.

Consolidating Statement of Operations

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS TWO MONTHS ENDED SEPTEMBER 30, 2018

	Successor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—		$	183		$	4	$	72		$	—		$	259
Net gain on mortgage loans held for sale	—			83			—		—			—			83
Total revenues	—			266			4		72			—			342
Expenses:
Salaries, wages and benefits	—			107			1		31			—			139
General and administrative	1			91			1		43			—			136
Total expenses	1			198			2		74			—			275
Other income (expenses):
Interest income	—			80			—		10			—			90
Interest expense	(26		)	(87		)	—		(9		)	—			(122		)
Other income	1			5			—		—			—			6
Gain (loss) from subsidiaries	56			1			—		—			(57		)	—
Total other income (expenses), net	31			(1		)	—		1			(57		)	(26		)
Income (loss) before income tax expense (benefit)	30			67			2		(1		)	(57		)	41
Less: Income tax (benefit) expense	(990		)	11			—		—			—			(979		)
Net income (loss)	1,020			56			2		(1		)	(57		)	1,020
Less: Net income (loss) attributable to non-controlling interests	—			—			—		—			—			—
Net income (loss) attributable to Nationstar	$	1,020		$	56		$	2	$	(1	)	$	(57	)	$	1,020


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS ONE MONTH ENDED JULY 31, 2018

	Predecessor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Revenues:
Service related, net	$	—		$	95		$	3	$	22		$	—	$	120
Net gain on mortgage loans held for sale	—			44			—		—			—		44
Total revenues	—			139			3		22			—		164
Expenses:
Salaries, wages and benefits	—			59			—		10			—		69
General and administrative	27			136			—		10			—		173
Total expenses	27			195			—		20			—		242
Other income (expenses):
Interest income	—			41			—		7			—		48
Interest expense	—			(49		)	—		(4		)	—		(53		)
Other income (expense)	—			—			—		—			—		—
(Loss) gain from subsidiaries	(37		)	7			—		—			30		—
Total other income (expenses), net	(37		)	(1		)	—		3			30		(5		)
(Loss) income before income tax (benefit) expense	(64		)	(57		)	3		5			30		(83		)
Less: Income tax (benefit) expense	—			(20		)	—		1			—		(19		)
Net loss) income	(64		)	(37		)	3		4			30		(64		)
Less: Net income (loss) attributable to non-controlling interests	—			—			—		—			—		—
Net (loss) income attributable to Nationstar	$	(64	)	$	(37	)	$	3	$	4		$	30	$	(64	)

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS SEVEN MONTHS ENDED JULY 31, 2018

	Predecessor
	Nationstar		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—	$	732		$	16	$	153		$	—		$	901
Net gain on mortgage loans held for sale	—		295			—		—			—			295
Total revenues	—		1,027			16		153			—			1,196
Expenses:
Salaries, wages and benefits	—		359			3		64			—			426
General and administrative	27		427			1		64			—			519
Total expenses	27		786			4		128			—			945
Other income (expenses):
Interest income	—		299			—		34			—			333
Interest expense	—		(364		)	—		(24		)	—			(388		)
Other income (expense)	—		(3		)	—		9			—			6
Gain (loss) from subsidiaries	181		56			—		—			(237		)	—
Total other income (expenses), net	181		(12		)	—		19			(237		)	(49		)
Income (loss) before income tax expense	154		229			12		44			(237		)	202
Less: Income tax expense	—		48			—		—			—			48
Net income (loss)	154		181			12		44			(237		)	154
Less: Net income (loss) attributable to non-controlling interests	—		—			—		—			—			—
Net income (loss) attributable to Nationstar	$	154	$	181		$	12	$	44		$	(237	)	$	154


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2019

	Successor
	Mr. Cooper			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—		$	137		$	5	$	116		$	—		$	258
Net gain on mortgage loans held for sale	—			349			—		11			—			360
Total revenues	—			486			5		127			—			618
Expenses:
Salaries, wages benefits	—			209			1		40			—			250
General and administrative	—			185			—		43			—			228
Total expenses	—			394			1		83			—			478
Other income (expenses):
Interest income	—			127			—		36			—			163
Interest expense	(37		)	(143		)	—		(16		)	—			(196		)
Other income (expenses)	—			(3		)	—		3			—			—
Gain (loss) from subsidiaries	121			71			—		—			(192		)	—
Total other income (expenses), net	84			52			—		23			(192		)	(33		)
Income (loss) before income tax benefit	84			144			4		67			(192		)	107
Less: Income tax expense	—			24			—		—			—			24
Net income (loss)	84			120			4		67			(192		)	83
Less: Net loss attributable to non-controlling interests	—			(1		)	—		—			—			(1		)
Net income (loss) attributable to Mr. Cooper	$	84		$	121		$	4	$	67		$	(192	)	$	84


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2019

	Successor
	Mr. Cooper			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—		$	139		$	16	$	324		$	—		$	479
Net gain on mortgage loans held for sale	—			777			—		11			—			788
Total revenues	—			916			16		335			—			1,267
Expenses:
Salaries, wages benefits	—			581			3		119			—			703
General and administrative	—			529			2		179			—			710
Total expenses	—			1,110			5		298			—			1,413
Other income (expenses):
Interest income	—			392			—		67			—			459
Interest expense	(114		)	(411		)	—		(47		)	—			(572		)
Other income (expenses)	—			2			—		14			—			16
(Loss) gain from subsidiaries	(75		)	82			—		—			(7		)	—
Total other income (expenses), net	(189		)	65			—		34			(7		)	(97		)
(Loss) income before income tax benefit	(189		)	(129		)	11		71			(7		)	(243		)
Less: Income tax benefit	—			(52		)	—		—			—			(52		)
Net (loss) income	(189		)	(77		)	11		71			(7		)	(191		)
Less: Net loss attributable to non-controlling interests	—			(2		)	—		—			—			(2		)
Net (loss) income attributable to Mr. Cooper	$	(189	)	$	(75	)	$	11	$	71		$	(7	)	$	(189	)


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

Consolidating Statement of Cash Flows

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS TWO MONTHS ENDED SEPTEMBER 30, 2018

	Successor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net income (loss) attributable to Mr. Cooper	$	1,020		$	56		$	2		$	(1	)	$	(57	)	$	1,020
Adjustments to reconcile net income (loss) to net cash attributable to operating activities:
Deferred income tax (benefit) expense	(990		)	52			—			7			—			(931		)
Net income attributable to non-controlling interests	—			—			—			—			—			—
(Gain) loss from subsidiaries	(56		)	(1		)	—			—			57			—
Net gain on mortgage loans held for sale	—			(83		)	—			—			—			(83		)
Interest income on reverse mortgage loans	—			(72		)	—			—			—			(72		)
Provision for servicing reserves	—			14			—			—			—			14
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities	—			(27		)	—			—			—			(27		)
Fair value changes in excess spread financing	—			26			—			—			—			26
Amortization of premiums, net of discount accretion	1			2			—			—			—			3
Depreciation and amortization for property and equipment and intangible assets	—			13			—			2			—			15
Share-based compensation	—			2			—			—			—			2
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(223		)	—			—			—			(223		)
Mortgage loans originated and purchased for sale, net of fees	—			(3,458		)	—			—			—			(3,458		)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			3,537			—			9			—			3,546
Changes in assets and liabilities:
Advances and other receivables	—			76			—			—			—			76
Reverse mortgage interests	—			425			—			17			—			442
Other assets	—			25			(3		)	(37		)	—			(15		)
Payables and other liabilities	19			(179		)	1			—			—			(159		)
Net cash attributable to operating activities	(6		)	185			—			(3		)	—			176


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS TWO MONTHS ENDED SEPTEMBER 30, 2018 (Continued)

	Successor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing Activities
Acquisition, net of cash acquired	—			—			—		(33		)	—		(33		)
Property and equipment additions, net of disposals	—			(20		)	—		6			—		(14		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—			(63		)	—		—			—		(63		)
Proceeds on sale of forward and reverse mortgage servicing rights	—			60			—		—			—		60
Net cash attributable to investing activities	—			(23		)	—		(27		)	—		(50		)
Financing Activities
Increase in warehouse facilities	—			186			—		—			—		186
(Decrease) increase in advance facilities	—			(17		)	—		63			—		46
Repayment of HECM securitizations	—			—			—		(91		)	—		(91		)
Proceeds from issuance of participating interest financing in reverse mortgage interests	—			45			—		—			—		45
Repayment of participating interest financing in reverse mortgage interests	—			(403		)	—		—			—		(403		)
Proceeds from issuance of excess spread financing	—			84			—		—			—		84
Repayment of excess spread financing	—			(21		)	—		—			—		(21		)
Settlement of excess spread financing	—			(31		)	—		—			—		(31		)
Repayment of nonrecourse debt - legacy assets	—			—			—		(3		)	—		(3		)
Redemption and repayment of unsecured senior notes	—			(1,030		)	—		—			—		(1,030		)
Debt financing costs	—			(1		)	—		—			—		(1		)
Net cash attributable to financing activities	—			(1,188		)	—		(31		)	—		(1,219		)
Net decrease in cash, cash equivalents, and restricted cash	(6		)	(1,026		)	—		(61		)	—		(1,093		)
Cash, cash equivalents, and restricted cash - beginning of period	11			1,358			1		253			—		1,623
Cash, cash equivalents, and restricted cash - end of period	$	5		$	332		$	1	$	192		$	—	$	530


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SEVEN MONTHS ENDED JULY 31, 2018

	Predecessor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net income (loss) attributable to Nationstar	$	154		$	181		$	12		$	44		$	(237	)	$	154
Adjustments to reconcile net income (loss) to net cash attributable to operating activities:
(Gain) loss from subsidiaries	(181		)	(56		)	—			—			237			—
Net gain on mortgage loans held for sale	—			(295		)	—			—			—			(295		)
Interest income on reverse mortgage loans	—			(274		)	—			—			—			(274		)
Gain on sale of assets	—			—			—			(9		)	—			(9		)
MSL related increased obligations	—			59			—			—			—			59
Provision for servicing reserves	—			70			—			—			—			70
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities	—			(178		)	—			1			—			(177		)
Fair value changes in excess spread financing	—			81			—			—			—			81
Fair value changes in mortgage servicing rights financing liability	—			16			—			—			—			16
Amortization of premiums, net of discount accretion	—			11			—			(3		)	—			8
Depreciation and amortization for property and equipment and intangible assets	—			26			—			7			—			33
Share-based compensation	—			16			—			1			—			17
Other loss	—			3			—			—			—			3
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(544		)	—			—			—			(544		)
Mortgage loans originated and purchased for sale, net of fees	—			(12,328		)	—			—			—			(12,328		)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			13,381			—			11			—			13,392
Changes in assets and liabilities:
Advances and other receivables	—			377			—			—			—			377
Reverse mortgage interests	—			1,866			—			(265		)	—			1,601
Other assets	9			(293		)	(12		)	255			—			(41		)
Payables and other liabilities	27			128			—			(4		)	—			151
Net cash attributable to operating activities	9			2,247			—			38			—			2,294

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SEVEN MONTHS ENDED JULY 31, 2018 (Continued)

	Predecessor
	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing Activities
Property and equipment additions, net of disposals	—			(35		)	—		(5		)	—		(40		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—			(127		)	—		(7		)	—		(134		)
Net payment related to acquisition of HECM related receivables	—			(1		)	—		—			—		(1		)
Proceeds on sale of assets	—			—			—		13			—		13
Net cash attributable to investing activities	—			(163		)	—		1			—		(162		)
Financing Activities
Decrease in warehouse facilities	—			(585		)	—		—			—		(585		)
Decrease in advance facilities	—			(55		)	—		(250		)	—		(305		)
Proceeds from issuance of HECM securitizations	—			—			—		759			—		759
Repayment of HECM securitizations	—			—			—		(448		)	—		(448		)
Proceeds from issuance of participating interest financing in reverse mortgage interests	—			208			—		—			—		208
Repayment of participating interest financing in reverse mortgage interests	—			(1,599		)	—		—			—		(1,599		)
Proceeds from issuance of excess spread financing	—			70			—		—			—		70
Repayment of excess spread financing	—			(3		)	—		—			—		(3		)
Settlement of excess spread financing	—			(105		)	—		—			—		(105		)
Repayment of nonrecourse debt - legacy assets	—			—			—		(7		)	—		(7		)
Repurchase of unsecured senior notes	—			(62		)	—		—			—		(62		)
Surrender of shares relating to stock vesting	(9		)	—			—		—			—		(9		)
Debt financing costs	—			(24		)	—		—			—		(24		)
Dividends to non-controlling interests	—			(1		)	—		—			—		(1		)
Net cash attributable to financing activities	(9		)	(2,156		)	—		54			—		(2,111		)
Net (decrease) increase in cash, cash equivalents, and restricted cash	—			(72		)	—		93			—		21
Cash, cash equivalents, and restricted cash - beginning of period	—			423			1		151			—		575
Cash, cash equivalents, and restricted cash - end of period	$	—		$	351		$	1	$	244		$	—	$	596

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2019

	Successor
	Mr. Cooper			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net (loss) income attributable to Mr. Cooper	$	(189	)	$	(75	)	$	11		$	71		$	(7	)	$	(189	)
Adjustments to reconcile net (loss) income to net cash attributable to operating activities:
Deferred tax benefit	—			(53		)	—			—			—			(53		)
Net loss attributable to non-controlling interests	—			(2		)	—			—			—			(2		)
Loss (gain) from subsidiaries	75			(82		)	—			—			7			—
Net gain on mortgage loans held for sale	—			(777		)	—			(11		)	—			(788		)
Interest income on reverse mortgage loans	—			(208		)	—			(33		)	—			(241		)
Provision for servicing reserves	—			53			—			—			—			53
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities	—			990			—			8			—			998
Fair value changes in excess spread financing	—			(186		)	—			(4		)	—			(190		)
Fair value changes in mortgage servicing rights financing liability	—			15			—			—			—			15
Fair value changes in mortgage loans held for investment	—			—			—			(3		)	—			(3		)
Amortization of premiums, net of discount accretion	5			(21		)	—			(22		)	—			(38		)
Depreciation and amortization for property and equipment and intangible assets	—			55			—			12			—			67
Share-based compensation	—			11			—			3			—			14
Other loss	—			5			—			—			—			5
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(1,823		)	—			—			—			(1,823		)
Mortgage loans originated and purchased for sale, net of fees	—			(27,685		)	—			12			—			(27,673		)
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			27,777			—			139			—			27,916
Changes in assets and liabilities:
Advances and other receivables	—			266			—			(1		)	—			265
Reverse mortgage interests	—			1,515			—			185			—			1,700
Other assets	—			141			(12		)	(121		)	—			8
Payables and other liabilities	109			(164		)	1			(15		)	—			(69		)
Net cash attributable to operating activities	—			(248		)	—			220			—			(28		)


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2019 (Continued)

	Successor
	Mr. Cooper		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing Activities
Acquisition, net of cash acquired	—		(85		)	—		—			—		(85		)
Property and equipment additions, net of disposals	—		(27		)	—		(11		)	—		(38		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—		(454		)	—		—			—		(454		)
Proceeds on sale of forward and reverse mortgage servicing rights	—		298			—		—			—		298
Net cash attributable to investing activities	—		(268		)	—		(11		)	—		(279		)
Financing Activities
Increase in warehouse facilities	—		1,930			—		—			—		1,930
Decrease in advance facilities	—		(39		)	—		(56		)	—		(95		)
Repayment of notes payable	—		(294		)	—		—			—		(294		)
Proceeds from issuance of HECM securitizations	—		—			—		398			—		398
Proceeds from sale of HECM securitizations	—		—			—		20			—		20
Repayment of HECM securitizations	—		—			—		(568		)	—		(568		)
Proceeds from issuance of participating interest financing in reverse mortgage interests	—		220			—		—			—		220
Repayment of participating interest financing in reverse mortgage interests	—		(1,472		)	—		—			—		(1,472		)
Proceeds from issuance of excess spread financing	—		469			—		—			—		469
Repayment of excess spread financing	—		(19		)	—		—			—		(19		)
Settlement of excess spread financing	—		(163		)	—		—			—		(163		)
Repayment of nonrecourse debt - legacy assets	—		—			—		(29		)	—		(29		)
Repayment of finance lease liability	—		(3		)	—		—			—		(3		)
Surrender of shares relating to stock vesting	—		(1		)	—		—			—		(1		)
Debt financing costs	—		(5		)	—		—			—		(5		)
Net cash attributable to financing activities	—		623			—		(235		)	—		388
Net increase (decrease) in cash, cash equivalents, and restricted cash	—		107			—		(26		)	—		81
Cash, cash equivalents, and restricted cash - beginning of period	—		379			1		181			—		561
Cash, cash equivalents, and restricted cash - end of period	$	—	$	486		$	1	$	155		$	—	$	642


⁽¹⁾	Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

Nature of Business and Basis of Presentation - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ROU asset	$ 126		$ 0
Operating lease liability	$ 137		$ 0
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
ROU asset		$ 114
Operating lease liability		$ 124

Acquisitions - Narrative (Details) - USD ($)		3 Months Ended		9 Months Ended
Acquisitions - Narrative (Details) - USD ($)	Feb. 01, 2019	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill		$ 120,000,000		$ 120,000,000	$ 23,000,000
Goodwill adjustment				55,000,000
Pacific Union
Business Acquisition [Line Items]
Cash consideration	$ 116,000,000
Goodwill	40,000,000		$ 40,000,000
Increase to payables and other liabilities			11,000,000
Increase to fair value of intangible assets			2,000,000
Property and equipment wrote off			2,000,000
Goodwill adjustment			11,000,000
Acquisition costs		0		4,000,000
Revenue since acquisition		95,000,000		213,000,000
Income from acquisition		$ 58,000,000		108,000,000
Salaries, Wages and Benefits \| Pacific Union
Business Acquisition [Line Items]
Acquisition costs				2,000,000
General and Administrative Expense \| Pacific Union
Business Acquisition [Line Items]
Acquisition costs				$ 2,000,000
Originations Segment \| Pacific Union
Business Acquisition [Line Items]
Goodwill			28,000,000
Servicing Segment \| Pacific Union
Business Acquisition [Line Items]
Goodwill			$ 12,000,000
Minimum \| Pacific Union
Business Acquisition [Line Items]
Change in contingent consideration	0
Maximum \| Pacific Union
Business Acquisition [Line Items]
Change in contingent consideration	$ 16,000,000

Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Feb. 01, 2019	Aug. 01, 2018	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Liabilities:
Goodwill			$ 120		$ 23
Pacific Union
Assets:
Cash and cash equivalents	$ 37
Restricted cash	2
Mortgage servicing rights	271
Advances and other receivables	84
Mortgage loans held for sale	536		536
Mortgage loans held for investment	1
Property and equipment	8
Other assets	483
Fair value of assets acquired	1,422
Liabilities:
Notes payable	294
Advance facilities	13
Warehouse facilities	393
Payables and other liabilities	530
Other nonrecourse debt	129
Fair value of liabilities assumed	1,359
Total fair value of net tangible assets acquired	63
Goodwill	40			$ 40
Estimated purchase price	116
Nationstar Mortgage Holdings Inc.
Assets:
Cash and cash equivalents		$ 166
Restricted cash		430
Mortgage servicing rights		3,422
Advances and other receivables		1,262
Reverse mortgage interests		9,189
Mortgage loans held for sale		1,514
Mortgage loans held for investment		125
Property and equipment		96
Other assets		610
Fair value of assets acquired		16,814
Liabilities:
Unsecured senior notes		1,830
Advance facilities		551
Warehouse facilities		2,701
Payables and other liabilities		1,352
MSR related liabilities—nonrecourse		1,065
Mortgage servicing liabilities		123
Other nonrecourse debt		7,583
Fair value of liabilities assumed		15,205
Total fair value of net tangible assets acquired		1,609
Intangible assets		103
Goodwill		65	$ 65		$ 10
Estimated purchase price		1,777
Customer relationships \| Pacific Union
Liabilities:
Intangible assets	$ 13
Useful Life, Assets acquired	10 years
Customer relationships \| Nationstar Mortgage Holdings Inc.
Liabilities:
Intangible assets		$ 61
Useful Life, Assets acquired		6 years
Tradename \| Nationstar Mortgage Holdings Inc.
Liabilities:
Intangible assets		$ 8
Useful Life, Assets acquired		5 years
Technology \| Nationstar Mortgage Holdings Inc.
Liabilities:
Intangible assets		$ 11
Internally developed software \| Nationstar Mortgage Holdings Inc.
Liabilities:
Intangible assets		$ 23
Useful Life, Assets acquired		2 years
Minimum \| Technology \| Nationstar Mortgage Holdings Inc.
Liabilities:
Useful Life, Assets acquired		3 years
Maximum \| Technology \| Nationstar Mortgage Holdings Inc.
Liabilities:
Useful Life, Assets acquired		5 years

Acquisitions - Pro Forma Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Business Combinations [Abstract]
Pro forma total revenues	$ 618	$ 506	$ 1,286	$ 1,538
Pro forma net income (loss)	$ 83	$ (20)	$ (188)	$ 156

Acquisitions - Acquisition of Nationstar Mortgage Holdings Inc (Details) $ / shares in Units, $ in Millions				2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Aug. 01, 2018 USD ($)	Jul. 31, 2018 USD ($) $ / shares shares	Jul. 13, 2018 USD ($)	Sep. 30, 2018 USD ($)	Mar. 31, 2019 USD ($)	Jul. 31, 2018 USD ($) $ / shares shares	Sep. 30, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jul. 12, 2018 USD ($)
Business Acquisition [Line Items]
Goodwill							$ 120	$ 23
Reduction in payables and accrued liabilities				$ 159			69
Goodwill adjustment							55
Nationstar Mortgage Holdings Inc.
Business Acquisition [Line Items]
Cash consideration	$ 1,226
Estimated consideration	1,777
Stock consideration	551
Goodwill	$ 65						65	$ 10
Reduction in reverse mortgage interests					$ 24
Reduction in reverse mortgage servicing rights					6
Increase in mortgage servicing liabilities					37
Reduction in payables and accrued liabilities					12
Goodwill adjustment					55		$ 55
Accounting adjustments					8
WMIH Corp And Wand Merger Corporation
Business Acquisition [Line Items]
Right to receive in shares (in dollars per share) \| $ / shares		$ 18				$ 18
Right to receive in shares (shares) \| shares		12.7793				12.7793
Stock split conversion		0.0833
Acquisition costs, incurred				$ 7
8.125% Due July 2023
Business Acquisition [Line Items]
Debt issued			$ 950
Interest rate			8.125%
9.125% Due July 2026
Business Acquisition [Line Items]
Debt issued			$ 750
Interest rate			9.125%
Service related, net revenue \| Nationstar Mortgage Holdings Inc.
Business Acquisition [Line Items]
Accounting adjustments					7
Interest income \| Nationstar Mortgage Holdings Inc.
Business Acquisition [Line Items]
Accounting adjustments					$ 1
WMIH Corp \| WMIH Corp And Wand Merger Corporation
Business Acquisition [Line Items]
Acquisition costs									$ 92
Debt issuance costs									38
WMIH Corp \| KCM \| WMIH Corp And Wand Merger Corporation
Business Acquisition [Line Items]
Acquisition costs									7
Payment for conversion fee			$ 8
WMIH Corp \| KKR Capital Markets LLC \| WMIH Corp And Wand Merger Corporation
Business Acquisition [Line Items]
Acquisition costs									$ 25
Nationstar Mortgage Holdings Inc.
Business Acquisition [Line Items]
Reduction in payables and accrued liabilities						$ (151)
Nationstar Mortgage Holdings Inc. \| WMIH Corp And Wand Merger Corporation
Business Acquisition [Line Items]
Acquisition costs		$ 27				$ 27

Acquisitions - Aggregate Purchase Price (Details) - Nationstar Mortgage Holdings Inc. $ / shares in Units, shares in Millions, $ in Millions	Aug. 01, 2018 USD ($) $ / shares shares
Business Acquisition [Line Items]
Converted WMIH common shares (in shares) \| shares	394
Price per share (in dollars per share) \| $ / shares	$ 1.398
Purchase price from common stock issued	$ 551
Purchase price from cash payment	1,226
Total purchase price	$ 1,777

Acquisitions - Acquisition of AMS Group (Details) - USD ($)		3 Months Ended	9 Months Ended	12 Months Ended
	Aug. 01, 2018	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018	Mar. 31, 2019
Business Acquisition [Line Items]
Goodwill acquired			$ 42,000,000
Assurant Mortgage Solutions Group
Business Acquisition [Line Items]
Intangible assets acquired				$ 24,000,000
Goodwill acquired				13,000,000
Xome Holdings LLC \| Assurant Mortgage Solutions Group
Business Acquisition [Line Items]
Cash consideration	$ 38,000,000
Contingent consideration		$ 0	0	$ 15,000,000	$ 4,000,000
Estimated consideration	53,000,000
Intangible assets acquired	24,000,000
Goodwill acquired	$ 13,000,000
Change in contingent consideration		$ 4,000,000	$ 15,000,000

Mortgage Servicing Rights ("MSRs") and Related Liabilities - MSRs and Related Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Mortgage Servicing Rights [Line Items]
Mortgage servicing rights at fair value	$ 3,339	$ 3,665
Mortgage servicing rights - fair value and amortized cost	3,346	3,676
Mortgage servicing liabilities - amortized cost	69	71
Excess spread financing - fair value	1,281	1,184
Mortgage servicing rights financing - fair value	47	32
MSR related liabilities - nonrecourse at fair value	1,328	1,216
Mortgage servicing rights
Mortgage Servicing Rights [Line Items]
Mortgage servicing rights at fair value	3,339	3,665
Mortgage servicing right at amortized cost	7	11
Mortgage servicing rights - fair value and amortized cost	3,346	3,676
Mortgage servicing liabilities - amortized cost	$ 69	$ 71

Mortgage Servicing Rights ("MSRs") and Related Liabilities - MSR's at Fair Value (Details) - USD ($) $ in Millions		2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	May 01, 2019	Sep. 30, 2018	Jun. 30, 2019	Jul. 31, 2018	Sep. 30, 2019	Feb. 01, 2019
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value - beginning of period					$ 3,665
Fair value - end of period					3,339
Mortgage servicing rights
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value - beginning of period		$ 3,413			3,665
Servicing retained from mortgage loans sold		43			298
Purchases of servicing rights		72	$ 253		732
Sales of servicing assets		(63)			(317)
Changes in valuation inputs or assumptions used in the valuation model		65			(716)
Other changes in fair value		(45)			(323)
Fair value - end of period		3,485		$ 3,413	3,339
Mortgage purchased under subservicing contract	$ 24,000
Pacific Union
Servicing Asset at Fair Value, Amount [Roll Forward]
Mortgage servicing rights						$ 271
Pacific Union \| Mortgage servicing rights
Servicing Asset at Fair Value, Amount [Roll Forward]
Mortgage servicing rights					$ 271
Nationstar Mortgage Holdings Inc. \| Mortgage servicing rights
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value - beginning of period		$ 3,413		2,937
Servicing retained from mortgage loans sold				162
Purchases of servicing rights				144
Sales of servicing assets				4
Changes in valuation inputs or assumptions used in the valuation model				330
Other changes in fair value				(164)
Fair value - end of period				$ 3,413

Mortgage Servicing Rights ("MSRs") and Related Liabilities - UPB related to owned MSRs (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Owned Service Loans [Line Items]
Fair Value	$ 3,339	$ 3,665
Mortgage servicing rights
Owned Service Loans [Line Items]
UPB	306,681	295,481
Fair Value	3,339	3,665
Credit sensitive \| Mortgage servicing rights
Owned Service Loans [Line Items]
UPB	157,898	135,752
Fair Value	1,661	1,495
Interest sensitive \| Mortgage servicing rights
Owned Service Loans [Line Items]
UPB	148,783	159,729
Fair Value	$ 1,678	$ 2,170

Mortgage Servicing Rights ("MSRs") and Related Liabilities - Fair Value Assumptions (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Mortgage servicing rights
Assumption for Fair Value of Mortgage Servicing Rights
Discount rate	9.70%	10.20%
Prepayment speeds	13.90%	10.80%
Average life	5 years 7 months	6 years 8 months
Mortgage servicing rights \| Credit sensitive
Assumption for Fair Value of Mortgage Servicing Rights
Discount rate	10.40%	11.30%
Prepayment speeds	13.20%	11.80%
Average life	5 years 10 months 8 days	6 years 5 months
Mortgage servicing rights \| Interest sensitive
Assumption for Fair Value of Mortgage Servicing Rights
Discount rate	9.00%	9.30%
Prepayment speeds	14.60%	10.00%
Average life	5 years 5 months	7 years
Excess spread financing \| Weighted-average
Assumption for Fair Value of Mortgage Servicing Rights
Discount rate	11.90%	10.40%
Prepayment speeds	13.30%	11.00%
Recapture rate	22.30%	18.60%
Average life	5 years 8 months	6 years 6 months
MSR Financing Liability \| Financing rates
Assumption for Fair Value of Mortgage Servicing Rights
Advance financing rates	3.70%	4.20%
MSR Financing Liability \| Recovery rates
Assumption for Fair Value of Mortgage Servicing Rights
Annual advance recovery rates	18.70%	19.00%

Mortgage Servicing Rights ("MSRs") and Related Liabilities - Narrative (Details) - USD ($)	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019	Dec. 31, 2018
Servicing Asset at Amortized Cost [Line Items]
Mortgage servicing liabilities - amortized cost			$ 69,000,000		$ 69,000,000	$ 71,000,000
Accretion of MSL			10,000,000		39,000,000
Mortgage servicing rights at fair value			3,339,000,000		3,339,000,000	3,665,000,000
Clean up call option					21,000,000
Cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans		$ 13,000,000	18,000,000		46,000,000
Servicing fee income accretion expense		22,000,000	77,000,000		172,000,000
Forward MSRs Sold
Servicing Asset at Amortized Cost [Line Items]
UPB		5,947,000,000	25,639,000,000		25,639,000,000
Forward MSRs Sold, Subservicing Retained
Servicing Asset at Amortized Cost [Line Items]
UPB		0	20,560,000,000		20,560,000,000
Reverse Mortgage Servicing Rights
Servicing Asset at Amortized Cost [Line Items]
UPB			23,990,000,000		23,990,000,000	28,415,000,000
Amortization of mortgage servicing rights		1,000,000			2,000,000
Other MSR adjustments					6,000,000
Mortgage servicing rights at fair value			7,000,000		7,000,000	11,000,000
Mortgage servicing rights
Servicing Asset at Amortized Cost [Line Items]
UPB			306,681,000,000		306,681,000,000	295,481,000,000
Mortgage servicing liabilities - amortized cost			69,000,000		69,000,000	71,000,000
Accretion of MSL		7,000,000			39,000,000
Other adjustments of MSL					37,000,000
Mortgage servicing right at amortized cost			7,000,000		7,000,000	11,000,000
Mortgage servicing rights at fair value			3,339,000,000		3,339,000,000	3,665,000,000
Fair value of MSL			41,000,000		41,000,000	$ 53,000,000
Impairment					0
Cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans		13,000,000	$ 18,000,000		$ 46,000,000
Nationstar Mortgage Holdings Inc.
Servicing Asset at Amortized Cost [Line Items]
Cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans	$ 4,000,000			$ 38,000,000
Servicing fee income accretion expense	11,000,000			78,000,000
Nationstar Mortgage Holdings Inc. \| Forward MSRs Sold
Servicing Asset at Amortized Cost [Line Items]
UPB	1,203,000,000			1,203,000,000
Nationstar Mortgage Holdings Inc. \| Predecessor as Subservicer
Servicing Asset at Amortized Cost [Line Items]
UPB		$ 1,000,000
Nationstar Mortgage Holdings Inc. \| Reverse Mortgage Servicing Rights
Servicing Asset at Amortized Cost [Line Items]
Other MSR adjustments				4,000,000
Nationstar Mortgage Holdings Inc. \| Mortgage servicing rights
Servicing Asset at Amortized Cost [Line Items]
Accretion of MSL				11,000,000
Other adjustments of MSL				56,000,000
Cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans	$ 4,000,000			$ 38,000,000

Mortgage Servicing Rights ("MSRs") and Related Liabilities - Fair Value Sensitivity Analysis (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Mortgage servicing rights
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Total Prepayment Speeds, 10% Adverse Change	$ (164)	$ (129)
Total Prepayment Speeds, 20% Adverse Change	(316)	(250)
Excess spread financing
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Total Prepayment Speeds, 10% Adverse Change	(44)	(38)
Total Prepayment Speeds, 20% Adverse Change	(93)	(81)
100 Basis Points \| Mortgage servicing rights
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Discount Rate, Adverse Change	(117)	(137)
100 Basis Points \| Excess spread financing
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Discount Rate, Adverse Change	(42)	(47)
200 Basis Points \| Mortgage servicing rights
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Discount Rate, Adverse Change	(226)	(265)
200 Basis Points \| Excess spread financing
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Discount Rate, Adverse Change	$ (87)	$ (99)

Mortgage Servicing Rights ("MSRs") and Related Liabilities - Servicing Revenue (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019
Mortgage Servicing Rights [Line Items]
Contractually specified servicing fees		$ 163	$ 305		$ 893
Other service-related income		18	51		133
Incentive and modification income		8	12		29
Late fees		14	30		82
Reverse servicing fees		13	7		24
Mark-to-market adjustments		24	(83)		(607)
Counterparty revenue share		(26)	(86)		(204)
Amortization, net of accretion		(31)	(73)		(152)
Total servicing revenue		$ 183	$ 163		$ 198
Nationstar Mortgage Holdings Inc.
Mortgage Servicing Rights [Line Items]
Contractually specified servicing fees	$ 79			$ 574
Other service-related income	10			66
Incentive and modification income	4			37
Late fees	7			53
Reverse servicing fees	4			37
Mark-to-market adjustments	25			196
Counterparty revenue share	(16)			(111)
Amortization, net of accretion	(16)			(112)
Total servicing revenue	$ 97			$ 740

Advances and Other Receivables, Net - Schedule of Accounts Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jul. 31, 2018
Receivables [Abstract]
Servicing advances, net of $148 and $205 discount, respectively	$ 865		$ 1,000
Receivables from agencies, investors and prior servicers, net of $48 and $48 discount, respectively	232		241
Reserves	(130)		(47)
Total advances and other receivables, net	967		1,194
Servicing advances discount	148	$ 156	205	$ 227	$ 246
Receivables discount	$ 48	$ 48	$ 48	$ 56	$ 56

Advances and Other Receivables, Net - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019	Jun. 30, 2019	Feb. 28, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans		$ 13	$ 18		$ 46
Receivables discount	$ 56	56	48	$ 56	48	$ 48		$ 48
Utilization of purchase discounts		$ 0	0		0
Receivables From Prior Servicers, Forward Loan Portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivables			101		101			94
Pacific Union
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables discount							$ 19
WMIH Corp And Wand Merger Corporation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables discount			$ 196		196			$ 302
Utilization of purchase discounts					$ 125
Nationstar Mortgage Holdings Inc.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans	$ 4			$ 38

Advances and Other Receivables, Net - Advances and Other Receivables Roll Forward (Details) - Reserves for Advances and Other Receivables - USD ($) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance - beginning of period		$ 0	$ 98		$ 47
Provision and other additions		20	35		102
Write-offs		0	(3)		(19)
Balance - end of period	$ 0	20	$ 130	$ 0	$ 130
Nationstar Mortgage Holdings Inc.
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance - beginning of period	294	$ 297		284
Provision and other additions	7			69
Write-offs	(4)			(56)
Balance - end of period	$ 297			$ 297

Advances and Other Receivables, Net - Purchase Discount (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2019
Servicing Advances
Balance - beginning of period	$ 246	$ 156	$ 205
Addition from acquisition	0	0	19
Utilization of purchase discounts	(19)	(8)	(76)
Balance - end of period	227	148	148
Receivables from Agencies, Investors and Prior Servicers
Balance - beginning of period	56	48	48
Addition from acquisition	0	0	0
Utilization of purchase discounts	0	0	0
Balance - end of period	$ 56	$ 48	$ 48

Reverse Mortgage Interests, Net - Schedule of Reverse Mortgage Interest (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jul. 31, 2018
Mortgage Servicing Rights [Line Items]
Participating interests in HECM mortgage-backed securities (“HMBS”), including $14 and $58 purchase premium, respectively	$ 4,592		$ 5,664
Other interests securitized, net of $63 and $100 purchase discount, respectively	879		1,064
Unsecuritized interests, net of $75 and $122 purchase discount, respectively	1,204		1,219
Reserves	(13)	$ (8)	(13)	$ (1)	$ 0
Total reverse mortgage interests, net	6,662		7,934
Other interests securitized, discount	63	84	100	117	117
Unsecuritized interests, discount	75	$ 97	122	$ 151	$ 161
Mortgage-backed debt
Mortgage Servicing Rights [Line Items]
Debt premium	$ 14		$ 58

Reverse Mortgage Interests, Net - Narrative (Details) - USD ($)	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Aug. 01, 2018	Jun. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized		$ 0
Purchase discount			$ 49,000,000		$ 49,000,000		$ 42,000,000
Unsecuritized HECM
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest earned on HECM loans		72,000,000	74,000,000		241,000,000
Participating Interests in HMBS
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized		44,000,000	211,000,000		211,000,000
GNMA
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized			61,000,000		61,000,000
Trust 2019-1
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized			398,000,000		398,000,000
Trust 2017-2
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized			249,000,000		249,000,000
Trust 2018-3
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB sold					20,000,000
Reverse Mortgage Interests, Unsecuritized \| HECM
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase of HECM loans		608,000,000			2,132,000,000
Repurchase of HECM loans funded by prior servicer		138,000,000			561,000,000
HECM Loans, HUD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unsecuritized interests		458,000,000			1,458,000,000
Other Interest Securitized and Unsecuritized Interests
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchase discount								$ 298,000,000
Receivables From Prior Servicers, Reverse Mortgage Interests
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivables			8,000,000		8,000,000		18,000,000
Mortgage-backed debt
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt premium			14,000,000		14,000,000		58,000,000
Mortgage-backed debt \| Participating Interests in HMBS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt premium	$ 58,000,000	$ 55,000,000	$ 14,000,000	$ 58,000,000	$ 14,000,000	$ 18,000,000	$ 58,000,000	$ 42,000,000
Nationstar Mortgage Holdings Inc.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchase discount	82,000,000			82,000,000					$ 84,000,000	$ 89,000,000
Nationstar Mortgage Holdings Inc. \| Unsecuritized HECM
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest earned on HECM loans	38,000,000			274,000,000
Nationstar Mortgage Holdings Inc. \| Participating Interests in HMBS
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized	198,000,000			198,000,000
Nationstar Mortgage Holdings Inc. \| Trust 2018-1 and Trust 2018-2
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized	760,000,000			760,000,000
Nationstar Mortgage Holdings Inc. \| Trust 2016-2 and Trust 2016-3
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized	$ 284,000,000			284,000,000
Nationstar Mortgage Holdings Inc. \| Reverse Mortgage Interests, Unsecuritized \| HECM
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase of HECM loans				2,439,000,000
Repurchase of HECM loans funded by prior servicer				512,000,000
Nationstar Mortgage Holdings Inc. \| HECM Loans, HUD
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unsecuritized interests				$ 1,712,000,000

Reverse Mortgage Interests, Net - Unsecuritized Interest (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jul. 31, 2018
Reverse Mortgage Interest [Abstract]
Repurchased HECM loans (exceeds 98% MCA)	$ 874		$ 949
HECM related receivables(1)	289		300
Funded borrower draws not yet securitized	92		76
REO-related receivables	24		16
Purchase discount, net	(75)	$ (97)	(122)	$ (151)	$ (161)
Total unsecuritized interests	$ 1,204		$ 1,219

Reverse Mortgage Interests, Net - Reserves Roll Forward (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019
Reverse Mortgage Interests Reserves [Roll Forward]
Balance - beginning of period		$ 0	$ 8		$ 13
Provision (release), net		1	5		7
Write-offs		0	0		(7)
Balance - end of period	$ 0	1	$ 13	$ 0	$ 13
Nationstar Mortgage Holdings Inc.
Reverse Mortgage Interests Reserves [Roll Forward]
Balance - beginning of period	117	$ 129		115
Provision (release), net	12			32
Write-offs	0			(18)
Balance - end of period	$ 129			$ 129

Reverse Mortgage Interests, Net - Purchase Discount Rollforward (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019
Net Discount for Other Interest Securitized
Balance - beginning of period		$ (117)	$ (84)		$ (100)
Adjustments					(2)
Utilization of purchase discounts(2)			11		24
Accretion		0	9		22
Transfers			1		(7)
Balance - end of period	$ (117)	(117)	(63)	$ (117)	(63)
Net Discount for Unsecuritized Interests
Balance - beginning of period		(161)	(97)		(122)
Additions					(6)
Utilization of purchase discounts(2)			29		56
Accretion		10	(6)		3
Transfers			(1)		(6)
Balance - end of period	(161)	(151)	(75)	(161)	(75)
Purchase discounts for reverse mortgage interests
Balance - beginning of period					(42)
Balance - end of period			(49)		(49)
Mortgage-backed debt
Net Premium for Participating Interests in HMBS
Balance - beginning of period					58
Balance - end of period			14		14
Participating Interests in HMBS \| Mortgage-backed debt
Net Premium for Participating Interests in HMBS
Balance - beginning of period		58	18		58
Adjustments					(16)
Utilization of purchase discounts(2)			0		0
Amortization		(3)	(4)		(41)
Transfers			0		13
Balance - end of period	58	55	$ 14	58	$ 14
Nationstar Mortgage Holdings Inc.
Purchase discounts for reverse mortgage interests
Balance - beginning of period	(84)	$ (82)		(89)
Additions	0			(7)
Accretion	2			14
Balance - end of period	$ (82)			$ (82)

Mortgage Loans Held for Sale and Investment - Mortgage Loans Held for Sale (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB	$ 31	$ 45
Fair Value	26	42
Ginnie Mae Repurchased Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB	26	40
Mortgages loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans held for sale – UPB	4,110	1,568
Mark-to-market adjustment	157	63
Total mortgage loans held for sale	$ 4,267	$ 1,631

Mortgage Loans Held for Sale and Investment - Narrative (Details) - USD ($) $ in Millions	1 Months Ended		2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019	Feb. 01, 2019	Dec. 31, 2018
Servicing Assets at Fair Value [Line Items]
Mortgage loans held for sale in foreclosure	$ 21			$ 21		$ 21		$ 33
Sale of mortgage loans held for sale			$ 3,543			27,778
Gain on sale of mortgage loans held for sale			35			367
Net gain on mortgage loans held for sale			83	360		788
Mortgage loans held for investment in foreclosure								$ 15
Mortgage loans held for investment
Servicing Assets at Fair Value [Line Items]
Sale of mortgage loans			0			94
Transfers to mortgage loans held for sale			0			12
Transfers to real estate owned			$ 0			5
Trust 2009-A
Servicing Assets at Fair Value [Line Items]
Sale of mortgage loans held for sale	130
Sale of mortgage loans	94
Net gain on mortgage loans held for sale	32
Transfers to mortgage loans held for sale	12
Transfers to real estate owned	5
Pacific Union
Servicing Assets at Fair Value [Line Items]
Mortgage loans held for sale	536			$ 536		536	$ 536
Servicing Segment
Servicing Assets at Fair Value [Line Items]
Net gain on mortgage loans held for sale						$ 90
Servicing Segment \| Trust 2009-A
Servicing Assets at Fair Value [Line Items]
Net gain on mortgage loans held for sale	21
Corporate/Other \| Trust 2009-A
Servicing Assets at Fair Value [Line Items]
Net gain on mortgage loans held for sale	$ 11
Nationstar Mortgage Holdings Inc.
Servicing Assets at Fair Value [Line Items]
Sale of mortgage loans held for sale					$ 13,382
Gain on sale of mortgage loans held for sale					127
Net gain on mortgage loans held for sale		$ 44			$ 295

Mortgage Loans Held for Sale and Investment - Reconciliation to Cash Flow (Details) - USD ($) $ in Millions	2 Months Ended	7 Months Ended	9 Months Ended
	Sep. 30, 2018	Jul. 31, 2018	Sep. 30, 2019
Loans Receivable Held-for-sale, Net, Reconciliation to Cash Flow [Roll Forward]
Balance - beginning of period	$ 1,514		$ 1,631
Mortgage loans originated and purchased, net of fees	3,459		28,199
Loans sold	(3,508)		(27,430)
Repurchase of loans out of Ginnie Mae securitizations	223		1,823
Net transfers of mortgage loans held for sale from REO in other assets and transfer from mortgage loans held for investment	4		15
Changes in fair value	(8)		19
Other purchase-related activities	(1)		10
Transfer of mortgage loans held for sale to advances/accounts receivable, net related to claims	(2)		0
Balance - end of period	1,681	$ 1,514	$ 4,267
Nationstar Mortgage Holdings Inc.
Loans Receivable Held-for-sale, Net, Reconciliation to Cash Flow [Roll Forward]
Balance - beginning of period	$ 1,514	1,891
Mortgage loans originated and purchased, net of fees		12,319
Loans sold		(13,255)
Repurchase of loans out of Ginnie Mae securitizations		544
Net transfers of mortgage loans held for sale from REO in other assets and transfer from mortgage loans held for investment		14
Changes in fair value		(1)
Other purchase-related activities		9
Transfer of mortgage loans held for sale to advances/accounts receivable, net related to claims		(7)
Balance - end of period		$ 1,514

Mortgage Loans Held for Sale and Investment - Mortgage Loans Held For Investment - UPB, Fair Value (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Dec. 31, 2018
Mortgage Loans Held For Investment [Roll Forward]
Balance - beginning of period			$ 119
Changes in fair value		$ 0	3
Balance - end of period	$ 0		0
Mortgage loans held for investment, net
Mortgage Loans Held For Investment [Roll Forward]
Balance - beginning of period		125	119
Sale of mortgage loans		0	(94)
Transfers to mortgage loans held for sale		0	(12)
Payments received from borrowers		(2)	(11)
Transfers to real estate owned		0	(5)
Changes in fair value		0	3
Losses incurred		(1)	0
Balance - end of period	0	$ 122	$ 0
UPB				$ 27
Fair Value				$ 13
Trust 2009-A
Mortgage Loans Held For Investment [Roll Forward]
Sale of mortgage loans	(94)
Transfers to mortgage loans held for sale	(12)
Transfers to real estate owned	$ (5)

Mortgage Loans Held for Sale and Investment - Mortgage Loans Held for Investment (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jul. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage loans held for investment	$ 0	$ 119
Mortgage loans held for investment, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans held for investment – UPB		156
Fair value adjustments		(37)
Total mortgage loans held for investment	$ 0	$ 119	$ 122	$ 125

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
ROU asset	$ 126	$ 126	$ 0
Operating lease liability	137	137	$ 0
Short-term lease cost (less than $1)	0	1
Finance lease liability	$ 3	$ 3
Minimum
Lessee, Lease, Description [Line Items]
Term of lease	1 year	1 year
Term of extension	3 years	3 years
Maximum
Lessee, Lease, Description [Line Items]
Term of lease	10 years	10 years
Term of extension	5 years	5 years

Leases - Net Lease Costs (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
Leases - Net Lease Costs (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 10	$ 29
Short-term lease cost	0	1
Sublease income	(1)	(2)
Net lease cost	$ 9	$ 28

Leases - Other Information (Details) $ in Millions	3 Months Ended	9 Months Ended
Leases - Other Information (Details) $ in Millions	Sep. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 8	$ 21
Leased assets obtained in exchange for new operating lease liabilities	$ (5)	$ 150
Weighted average remaining lease term - operating leases, in years	5 years 8 months 12 days	5 years 8 months 12 days
Weighted average discount rate - operating leases	5.00%	5.00%

Leases - Maturity of Lease Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Operating Leases
2019	$ 10
2020	39
2021	30
2022	22
2023	16
2024 and thereafter	45
Total future minimum lease payments	162
Less: imputed interest	25
Total operating lease liabilities	$ 137	$ 0

Other Assets - Schedule of Others Assets (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Loans subject to repurchase from Ginnie Mae	$ 629	$ 266
Trade receivables and accrued revenues	142	145
Right-of-use assets	126	0
Goodwill	120	23
Intangible assets	93	117
Other	339	244
Total other assets	$ 1,449	$ 795

Other Assets - Goodwill Rollforward (Details) $ in Millions	9 Months Ended
Other Assets - Goodwill Rollforward (Details) $ in Millions	Sep. 30, 2019 USD ($)
Goodwill [Roll Forward]
Balance - beginning of period	$ 23
Additions from acquisitions	42
Measurement period adjustment related to Merger	55
Balance - end of period	$ 120

Other Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended	12 Months Ended
Other Assets - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2019	Dec. 31, 2018	Feb. 01, 2019	Aug. 01, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loans subject to repurchase from Ginnie Mae			$ 629	$ 266
Goodwill			120	23
Goodwill adjustment			55
Goodwill acquired			42
REO loans with government guarantee			8	10
Pacific Union
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loans subject to repurchase from Ginnie Mae			418
Goodwill	$ 40				$ 40
Intangible assets acquired			13
Goodwill adjustment	$ 11
Seterus
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible assets acquired			2
Nationstar Mortgage Holdings Inc.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill			65	10		$ 65
Intangible assets acquired				103
Goodwill adjustment		$ 55	$ 55
Goodwill acquired				10
Assurant Mortgage Solutions Group
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible assets acquired				24
Goodwill acquired				$ 13

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Collateral deposit assets (liabilities)	$ 0.4	$ 12.0

Derivative Financial Instruments - Derivative Instruments (Details) - USD ($) $ in Millions	2 Months Ended	7 Months Ended	9 Months Ended
	Sep. 30, 2018	Jul. 31, 2018	Sep. 30, 2019
Derivatives, Fair Value [Line Items]
Derivative instruments at fair value, less than	$ 0.1	$ 0.1	$ 0.1
Derivative Assets \| Loan sale commitments
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	428.0		1,508.0
Fair Value - Asset	6.9		35.3
Recorded Gains/(Losses)	(3.7)		9.4
Derivative Assets \| IRLCs
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	1,765.0		4,964.0
Fair Value - Asset	57.8		143.9
Recorded Gains/(Losses)	(1.8)		84.1
Derivative Assets \| Forward MBS trades
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	3,040.0		3,054.0
Fair Value - Asset	12.2		7.7
Recorded Gains/(Losses)	9.0		5.9
Derivative Assets \| LPCs
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	228.0		1,397.0
Fair Value - Asset	1.7		18.2
Recorded Gains/(Losses)	0.5		16.5
Derivative Assets \| Treasury futures
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	65.0
Fair Value - Asset	0.0
Recorded Gains/(Losses)	0.0
Derivative Assets \| Eurodollar futures
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	20.0		6.0
Fair Value - Asset	0.0		0.0
Recorded Gains/(Losses)	0.0		0.0
Derivative Liabilities \| IRLCs
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	3.0		15.0
Fair Value - Liability	0.0		0.0
Recorded Gains/(Losses)	0.0		0.0
Derivative Liabilities \| Forward MBS trades
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	413.0		5,667.0
Fair Value - Liability	0.5		15.9
Recorded Gains/(Losses)	(1.4)		(8.0)
Derivative Liabilities \| LPCs
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	320.0		547.0
Fair Value - Liability	1.5		3.1
Recorded Gains/(Losses)	0.9		2.7
Derivative Liabilities \| Treasury futures
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	53.0
Fair Value - Liability	0.1
Recorded Gains/(Losses)	0.1
Derivative Liabilities \| Eurodollar futures
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	6.0		8.0
Fair Value - Liability	0.0		0.0
Recorded Gains/(Losses)	$ 0.0		$ 0.0
Nationstar Mortgage Holdings Inc. \| Derivative Assets \| Loan sale commitments
Derivatives, Fair Value [Line Items]
Recorded Gains/(Losses)		10.5
Nationstar Mortgage Holdings Inc. \| Derivative Assets \| IRLCs
Derivatives, Fair Value [Line Items]
Recorded Gains/(Losses)		0.4
Nationstar Mortgage Holdings Inc. \| Derivative Assets \| Forward MBS trades
Derivatives, Fair Value [Line Items]
Recorded Gains/(Losses)		0.9
Nationstar Mortgage Holdings Inc. \| Derivative Assets \| LPCs
Derivatives, Fair Value [Line Items]
Recorded Gains/(Losses)		0.3
Nationstar Mortgage Holdings Inc. \| Derivative Assets \| Treasury futures
Derivatives, Fair Value [Line Items]
Recorded Gains/(Losses)		(1.8)
Nationstar Mortgage Holdings Inc. \| Derivative Assets \| Eurodollar futures
Derivatives, Fair Value [Line Items]
Recorded Gains/(Losses)		0.0
Nationstar Mortgage Holdings Inc. \| Derivative Liabilities \| IRLCs
Derivatives, Fair Value [Line Items]
Recorded Gains/(Losses)		0.0
Nationstar Mortgage Holdings Inc. \| Derivative Liabilities \| Forward MBS trades
Derivatives, Fair Value [Line Items]
Recorded Gains/(Losses)		(1.0)
Nationstar Mortgage Holdings Inc. \| Derivative Liabilities \| LPCs
Derivatives, Fair Value [Line Items]
Recorded Gains/(Losses)		0.1
Nationstar Mortgage Holdings Inc. \| Derivative Liabilities \| Treasury futures
Derivatives, Fair Value [Line Items]
Recorded Gains/(Losses)		(1.3)
Nationstar Mortgage Holdings Inc. \| Derivative Liabilities \| Eurodollar futures
Derivatives, Fair Value [Line Items]
Recorded Gains/(Losses)		$ 0.0

Indebtedness - Notes Payable Summary (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Debt Outstanding	$ 513,000,000	$ 595,000,000
Servicing Segment \| Notes Payable, Other
Debt Instrument [Line Items]
Debt outstanding, gross	513,000,000	595,000,000
Debt Outstanding	513,000,000	595,000,000
Collateral Pledged	676,000,000	777,000,000
Servicing Segment \| Notes Payable, Other \| $325 advance facility
Debt Instrument [Line Items]
Capacity Amount	325,000,000
Debt outstanding, gross	233,000,000	209,000,000
Collateral Pledged	$ 294,000,000	284,000,000
Servicing Segment \| Notes Payable, Other \| $325 advance facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Servicing Segment \| Notes Payable, Other \| $325 advance facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	6.50%
Servicing Segment \| Notes Payable, Other \| $250 advance facility
Debt Instrument [Line Items]
Capacity Amount	$ 250,000,000
Debt outstanding, gross	142,000,000	218,000,000
Collateral Pledged	$ 173,000,000	255,000,000
Servicing Segment \| Notes Payable, Other \| $250 advance facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Servicing Segment \| Notes Payable, Other \| $250 advance facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.60%
Servicing Segment \| Notes Payable, Other \| $200 advance facility
Debt Instrument [Line Items]
Capacity Amount	$ 200,000,000
Debt outstanding, gross	64,000,000	90,000,000
Collateral Pledged	$ 125,000,000	149,000,000
Servicing Segment \| Notes Payable, Other \| $200 advance facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.50%
Servicing Segment \| Notes Payable, Other \| $125 advance facility
Debt Instrument [Line Items]
Capacity Amount	$ 125,000,000
Debt outstanding, gross	74,000,000	78,000,000
Collateral Pledged	$ 84,000,000	89,000,000
Servicing Segment \| Notes Payable, Other \| $125 advance facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Servicing Segment \| Notes Payable, Other \| $125 advance facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	7.40%
Servicing Segment \| Advance facilities
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ 0	0
Originations Segment \| Mortgage loans, net
Debt Instrument [Line Items]
Debt Outstanding	3,980,000,000	1,528,000,000
Collateral Pledged	4,119,000,000	1,628,000,000
Originations Segment \| Reverse mortgage interests
Debt Instrument [Line Items]
Debt Outstanding	663,000,000	722,000,000
Collateral Pledged	773,000,000	838,000,000
Originations Segment \| MSR
Debt Instrument [Line Items]
Debt Outstanding	160,000,000	100,000,000
Collateral Pledged	1,237,000,000	1,686,000,000
Originations Segment \| Notes Payable to Banks
Debt Instrument [Line Items]
Debt outstanding, gross	4,643,000,000	2,250,000,000
Collateral Pledged	4,892,000,000	2,466,000,000
Originations Segment \| Notes Payable to Banks \| $1,500 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	1,500,000,000
Debt outstanding, gross	970,000,000	0
Collateral Pledged	$ 938,000,000	0
Originations Segment \| Notes Payable to Banks \| $1,500 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	1.00%
Originations Segment \| Notes Payable to Banks \| $1,200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 1,200,000,000
Debt outstanding, gross	734,000,000	560,000,000
Collateral Pledged	$ 779,000,000	622,000,000
Originations Segment \| Notes Payable to Banks \| $1,200 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.70%
Originations Segment \| Notes Payable to Banks \| $1,200 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	3.50%
Originations Segment \| Notes Payable to Banks \| $1,000 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 1,000,000,000
Debt outstanding, gross	521,000,000	137,000,000
Collateral Pledged	$ 536,000,000	140,000,000
Originations Segment \| Notes Payable to Banks \| $1,000 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.40%
Originations Segment \| Notes Payable to Banks \| $1,000 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.30%
Originations Segment \| Notes Payable to Banks \| $800 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 800,000,000
Debt outstanding, gross	586,000,000	464,000,000
Collateral Pledged	$ 643,000,000	514,000,000
Originations Segment \| Notes Payable to Banks \| $800 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Originations Segment \| Notes Payable to Banks \| $800 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.90%
Originations Segment \| Notes Payable to Banks \| $750 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 750,000,000
Debt outstanding, gross	511,000,000	119,000,000
Collateral Pledged	$ 524,000,000	122,000,000
Originations Segment \| Notes Payable to Banks \| $750 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.40%
Originations Segment \| Notes Payable to Banks \| $750 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.80%
Originations Segment \| Notes Payable to Banks \| $600 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 600,000,000
Debt outstanding, gross	214,000,000	151,000,000
Collateral Pledged	$ 251,000,000	168,000,000
Originations Segment \| Notes Payable to Banks \| $600 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	2.30%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 500,000,000
Debt outstanding, gross	405,000,000	220,000,000
Collateral Pledged	$ 474,000,000	248,000,000
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	3.00%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 500,000,000
Debt outstanding, gross	391,000,000	187,000,000
Collateral Pledged	$ 400,000,000	200,000,000
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.80%
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 200,000,000
Debt outstanding, gross	91,000,000	0
Collateral Pledged	$ 92,000,000	0
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 200,000,000
Debt outstanding, gross	91,000,000	18,000,000
Collateral Pledged	$ 94,000,000	19,000,000
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	1.20%
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 200,000,000
Debt outstanding, gross	67,000,000	103,000,000
Collateral Pledged	$ 94,000,000	132,000,000
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.00%
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 200,000,000
Debt outstanding, gross	21,000,000	0
Collateral Pledged	$ 21,000,000	0
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	1.50%
Originations Segment \| Notes Payable to Banks \| $50 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 50,000,000
Debt outstanding, gross	13,000,000	0
Collateral Pledged	$ 16,000,000	0
Originations Segment \| Notes Payable to Banks \| $50 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	2.00%
Originations Segment \| Notes Payable to Banks \| $50 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	6.00%
Originations Segment \| Notes Payable to Banks \| $40 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 40,000,000
Debt outstanding, gross	27,000,000	0
Collateral Pledged	$ 28,000,000	0
Originations Segment \| Notes Payable to Banks \| $40 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	3.30%
Originations Segment \| Notes Payable to Banks \| $40 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 40,000,000
Debt outstanding, gross	1,000,000	1,000,000
Collateral Pledged	$ 2,000,000	2,000,000
Originations Segment \| Notes Payable to Banks \| $40 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	3.00%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 0
Debt outstanding, gross	0	290,000,000
Collateral Pledged	$ 0	299,000,000
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	2.00%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.30%
Originations Segment \| Mortgage servicing rights
Debt Instrument [Line Items]
Debt outstanding, gross	$ 160,000,000	100,000,000
Collateral Pledged	1,237,000,000	1,686,000,000
Originations Segment \| Mortgage servicing rights \| $400 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	400,000,000
Debt outstanding, gross	150,000,000	100,000,000
Collateral Pledged	$ 839,000,000	928,000,000
Originations Segment \| Mortgage servicing rights \| $400 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	3.50%
Originations Segment \| Mortgage servicing rights \| $400 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	6.10%
Originations Segment \| Mortgage servicing rights \| $400 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 400,000,000
Debt outstanding, gross	0	0
Collateral Pledged	$ 193,000,000	226,000,000
Originations Segment \| Mortgage servicing rights \| $400 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.30%
Originations Segment \| Mortgage servicing rights \| $150 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 150,000,000
Debt outstanding, gross	0	0
Collateral Pledged	$ 121,000,000	430,000,000
Originations Segment \| Mortgage servicing rights \| $150 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.80%
Originations Segment \| Mortgage servicing rights \| $50 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 50,000,000
Debt outstanding, gross	10,000,000	0
Collateral Pledged	$ 84,000,000	102,000,000
Originations Segment \| Mortgage servicing rights \| $50 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.80%
Originations Segment \| Warehouse Facilities
Debt Instrument [Line Items]
Debt outstanding, gross	$ 4,803,000,000	2,350,000,000
Unamortized debt issuance costs	(1,000,000)	(1,000,000)
Debt Outstanding	4,802,000,000	2,349,000,000
Collateral Pledged	$ 6,129,000,000	$ 4,152,000,000

Indebtedness - Summary of Unsecured Senior Notes (Details) - USD ($)	1 Months Ended	2 Months Ended
	Oct. 31, 2019	Sep. 30, 2018	Sep. 30, 2019	Dec. 31, 2018	Jul. 13, 2018
Debt Instrument [Line Items]
Unsecured senior notes, net			$ 2,464,000,000	$ 2,459,000,000
Repayment of debt		$ 658,000,000
$950 face value, 8.125% interest rate payable semi-annually, due July 2023
Debt Instrument [Line Items]
Debt issued					$ 950,000,000
Interest Rate					8.125%
$750 face value, 9.125% interest rate payable semi-annually, due July 2026
Debt Instrument [Line Items]
Debt issued					$ 750,000,000
Interest Rate					9.125%
Unsecured Senior Notes
Debt Instrument [Line Items]
Unsecured senior notes principal amount			2,498,000,000	2,498,000,000
Unamortized debt issuance costs, premium and discount			(34,000,000)	(39,000,000)
Unsecured senior notes, net			2,464,000,000	2,459,000,000
Repayment of debt		$ 364,000,000
Debt issued			2,498,000,000
Unsecured Senior Notes \| $950 face value, 8.125% interest rate payable semi-annually, due July 2023
Debt Instrument [Line Items]
Unsecured senior notes principal amount			950,000,000	950,000,000
Debt issued			$ 950,000,000
Interest Rate			8.125%
Unsecured Senior Notes \| $750 face value, 9.125% interest rate payable semi-annually, due July 2026
Debt Instrument [Line Items]
Unsecured senior notes principal amount			$ 750,000,000	750,000,000
Debt issued			$ 750,000,000
Interest Rate			9.125%
Unsecured Senior Notes \| $600 face value, 6.500% interest rate payable semi-annually, due July 2021
Debt Instrument [Line Items]
Unsecured senior notes principal amount			$ 592,000,000	592,000,000
Debt issued			$ 600,000,000
Interest Rate			6.50%
Unsecured Senior Notes \| $300 face value, 6.500% interest rate payable semi-annually, due June 2022
Debt Instrument [Line Items]
Unsecured senior notes principal amount			$ 206,000,000	$ 206,000,000
Debt issued			$ 300,000,000
Interest Rate			6.50%
Subsequent event \| Unsecured Senior Notes \| $600 face value, 6.500% interest rate payable semi-annually, due July 2021
Debt Instrument [Line Items]
Repayment of debt	$ 100,000,000

Indebtedness - Narrative (Details) - USD ($)	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
Indebtedness - Narrative (Details) - USD ($)	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019	Dec. 31, 2018	Nov. 30, 2009
Debt Instrument [Line Items]
Repurchase of unsecured senior notes		$ 0			$ 0
Repayment of outstanding debt		658,000,000
Principal amount outstanding on securitized financing							$ 222,000,000
Non-recourse debt			$ 5,533,000,000		5,533,000,000	$ 6,795,000,000
Minimum tangible net worth			682,000,000		$ 682,000,000
Securities Pledged as Collateral
Debt Instrument [Line Items]
Principal amount outstanding on securitized financing						160,000,000
New Notes
Debt Instrument [Line Items]
Maximum percentage redeemable on unsecured debt					40.00%
Unsecured Senior Notes
Debt Instrument [Line Items]
Maximum percentage redeemable on unsecured debt					35.00%
Nonrecourse debt–legacy assets
Debt Instrument [Line Items]
Carrying value on loans outstanding						29,000,000
Non-recourse debt						$ 29,000,000
Unsecured Senior Notes
Debt Instrument [Line Items]
Repurchase of unsecured senior notes		0	$ 0		$ 0
Repayment of outstanding debt		$ 364,000,000
Secured Debt \| Nonrecourse debt–legacy assets
Debt Instrument [Line Items]
Interest rate			7.50%		7.50%
Minimum \| Nonrecourse debt–legacy assets
Debt Instrument [Line Items]
Interest rate			2.30%		2.30%
Minimum \| Secured Debt \| HECM Securitizations
Debt Instrument [Line Items]
Interest rate			2.70%		2.70%
Weighted average useful life					1 year
Maximum \| Nonrecourse debt–legacy assets
Debt Instrument [Line Items]
Interest rate			5.90%		5.90%
Maximum \| Secured Debt \| HECM Securitizations
Debt Instrument [Line Items]
Interest rate			6.00%		6.00%
Weighted average useful life					4 years
Nationstar Mortgage Holdings Inc.
Debt Instrument [Line Items]
Repurchase of unsecured senior notes				$ 62,000,000
Nationstar Mortgage Holdings Inc. \| Unsecured Senior Notes
Debt Instrument [Line Items]
Repurchase of unsecured senior notes	$ 0			60,000,000
Loss on repurchase of debt				$ 2,000,000

Indebtedness - Schedule of Notes Maturity (Details) - Unsecured Senior Notes $ in Millions	Sep. 30, 2019 USD ($)
Debt Instrument [Line Items]
2019	$ 0
2020	0
2021	592
2022	206
2023	950
Thereafter	750
Total	$ 2,498

Indebtedness - Summary of Other Non-Recourse Debt (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Non-recourse debt	$ 5,533,000,000	$ 6,795,000,000
Unamortized debt issuance costs, premium and discount	12,000,000	68,000,000
Participating interest financing
Debt Instrument [Line Items]
Non-recourse debt	4,581,000,000	5,607,000,000
Trust 2017-2
Debt Instrument [Line Items]
Non-recourse debt	0	231,000,000
Trust 2018-1
Debt Instrument [Line Items]
Non-recourse debt	201,000,000	284,000,000
Trust 2018-2
Debt Instrument [Line Items]
Non-recourse debt	161,000,000	250,000,000
Trust 2018-3
Debt Instrument [Line Items]
Non-recourse debt	239,000,000	326,000,000
Trust 2019-1
Debt Instrument [Line Items]
Non-recourse debt	339,000,000	0
Nonrecourse debt - legacy assets
Debt Instrument [Line Items]
Non-recourse debt	0	29,000,000
Other
Debt Instrument [Line Items]
Non-recourse debt	5,521,000,000	$ 6,727,000,000
Nonrecourse debt–legacy assets \| Participating interest financing
Debt Instrument [Line Items]
Securitized Amount	0
Nonrecourse debt–legacy assets \| Trust 2017-2
Debt Instrument [Line Items]
Securitized Amount	0
Nonrecourse debt–legacy assets \| Trust 2018-1
Debt Instrument [Line Items]
Securitized Amount	232,000,000
Nonrecourse debt–legacy assets \| Trust 2018-2
Debt Instrument [Line Items]
Securitized Amount	179,000,000
Nonrecourse debt–legacy assets \| Trust 2018-3
Debt Instrument [Line Items]
Securitized Amount	254,000,000
Nonrecourse debt–legacy assets \| Trust 2019-1
Debt Instrument [Line Items]
Securitized Amount	347,000,000
Nonrecourse debt–legacy assets \| Nonrecourse debt - legacy assets
Debt Instrument [Line Items]
Securitized Amount	$ 0

Payables and Other Liabilities - Schedule of Accounts Payable (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Loans subject to repurchase from Ginnie Mae	$ 629	$ 266
Payables to servicing and subservicing investors	523	494
Operating lease liability	137	0
Payables to GSEs and securitized trusts	126	105
MSR purchases payable including advances	21	182
Other liabilities	566	496
Total payables and other liabilities	$ 2,002	$ 1,543

Payables and Other Liabilities - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Loans subject to repurchase from Ginnie Mae	$ 629	$ 266
Pacific Union
Business Acquisition [Line Items]
Loans subject to repurchase from Ginnie Mae	$ 418

Payables and Other Liabilities - Repurchase Reserves (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019
Loans Subject to Repurchase Reserve [Roll Forward]
Balance - beginning of period		$ 9	$ 23		$ 8
Provisions		1	5		21
Releases		(1)	(4)		(5)
Balance - end of period	$ 9	9	$ 24	$ 9	$ 24
Nationstar Mortgage Holdings Inc.
Loans Subject to Repurchase Reserve [Roll Forward]
Balance - beginning of period	9	$ 9		9
Provisions	0			3
Releases	0			(3)
Balance - end of period	$ 9			$ 9

Securitizations and Financings - Assets and Liabilities of Consolidated VIEs (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019 USD ($) special_purpose_entity	Dec. 31, 2018 USD ($)
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Number of SPEs \| special_purpose_entity	4
Assets	$ 622	$ 816
Reverse Secured Borrowings, Assets, Carrying Amount	5,517	6,791
Liabilities	450	535
Reverse Secured Borrowings, Liabilities, Carrying Amount	5,522	6,699
Purchase discount	49	42
Residential Mortgage \| Restricted cash
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	70	70
Reverse Secured Borrowings, Assets, Carrying Amount	46	63
Residential Mortgage \| Reverse mortgage interests
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	0	0
Reverse Secured Borrowings, Assets, Carrying Amount	5,471	6,728
Residential Mortgage \| Advances and other receivables, net
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	552	628
Reverse Secured Borrowings, Assets, Carrying Amount	0	0
Residential Mortgage \| Mortgage loans held for investment, net
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	0	118
Reverse Secured Borrowings, Assets, Carrying Amount	0	0
Residential Mortgage \| Advance facilities
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	449	505
Reverse Secured Borrowings, Liabilities, Carrying Amount	0	0
Residential Mortgage \| Payables and other liabilities
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	1	1
Reverse Secured Borrowings, Liabilities, Carrying Amount	1	1
Residential Mortgage \| Participating interest financing
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	0
Reverse Secured Borrowings, Liabilities, Carrying Amount	4,581	5,607
Residential Mortgage \| Trust 2017-2 \| Other non-recourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	0
Reverse Secured Borrowings, Liabilities, Carrying Amount	0	231
Residential Mortgage \| Trust 2018-1 \| Other non-recourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	0
Reverse Secured Borrowings, Liabilities, Carrying Amount	201	284
Residential Mortgage \| Trust 2018-2 \| Other non-recourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	0
Reverse Secured Borrowings, Liabilities, Carrying Amount	161	250
Residential Mortgage \| Trust 2018-3 \| Other non-recourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	0
Reverse Secured Borrowings, Liabilities, Carrying Amount	239	326
Residential Mortgage \| Trust 2019-1 \| Other non-recourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	0
Reverse Secured Borrowings, Liabilities, Carrying Amount	339	0
Residential Mortgage \| Other nonrecourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	0	29
Reverse Secured Borrowings, Liabilities, Carrying Amount	$ 0	$ 0

Securitizations and Financings - Securitization Trusts (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Variable Interest Entities and Securitizations [Abstract]
Total collateral balances - UPB	$ 1,553	$ 1,873
Total certificate balances	1,562	1,817
Unconsolidated securitization trusts	$ 204	$ 285

Stockholders' Equity - Narrative (Details) - RSUs - Certain Employees - USD ($) shares in Thousands, $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019
Class of Stock [Line Items]
Shares granted (in shares)		73		3,297	2,525
Compensation expense		$ 2	$ 5		$ 14
Tranche One
Class of Stock [Line Items]
Vesting percentage					33.30%
Tranche Two
Class of Stock [Line Items]
Vesting percentage					33.30%
Tranche Three
Class of Stock [Line Items]
Vesting percentage					33.40%
Nationstar Mortgage Holdings Inc.
Class of Stock [Line Items]
Compensation expense	$ 9			$ 17
One-time accelerated vesting				$ 7

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss) attributable to Successor/Predecessor		$ 1,020	$ 84		$ (189)
Less: Undistributed earnings attributable to participating stockholders		9	1		0
Net income (loss) attributable to common stockholders		$ 1,011	$ 83		$ (189)
Net income (loss) per common share attributable to Successor/Predecessor:
Basic (in dollars per share)		$ 11.13	$ 0.91		$ (2.08)
Diluted (in dollars per share)		$ 10.99	$ 0.90		$ (2.08)
Weighted average shares of common stock outstanding (in thousands):
Basic (in shares)		90,808	91,080		91,012
Dilutive effect of stock awards (in shares)		345	117		0
Dilutive effect of participating securities (in shares)		839	839		0
Diluted (in shares)		91,992	92,036		91,012
Nationstar Mortgage Holdings Inc.
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss) attributable to Successor/Predecessor	$ (64)			$ 154
Less: Undistributed earnings attributable to participating stockholders	0			0
Net income (loss) attributable to common stockholders	$ (64)			$ 154
Net income (loss) per common share attributable to Successor/Predecessor:
Basic (in dollars per share)	$ (0.65)			$ 1.57
Diluted (in dollars per share)	$ (0.65)			$ 1.55
Weighted average shares of common stock outstanding (in thousands):
Basic (in shares)	98,164			98,046
Dilutive effect of stock awards (in shares)	0			1,091
Dilutive effect of participating securities (in shares)	0			0
Diluted (in shares)	98,164			99,137

Income Taxes - Schedule of Income Taxes (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019
Income Tax Examination [Line Items]
Income (loss) before income tax expense (benefit)		$ 41	$ 107		$ (243)
Income tax expense (benefit)		$ (979)	$ 24		$ (52)
Effective tax rate		(2377.10%)	22.30%		21.50%
Nationstar Mortgage Holdings Inc.
Income Tax Examination [Line Items]
Income (loss) before income tax expense (benefit)	$ (83)			$ 202
Income tax expense (benefit)	$ (19)			$ 48
Effective tax rate	23.10%			23.80%

Income Taxes - Narrative (Details)	9 Months Ended
Income Taxes - Narrative (Details)	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Statutory federal rate percentage	21.00%

Fair Value Measurements - Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jul. 31, 2018
Assets
Mortgage loans held for sale	$ 4,267.0	$ 1,631.0
Mortgage loans held for investment	0.0	119.0
Mortgage servicing rights	3,339.0	3,665.0
Liabilities
Mortgage servicing rights financing	47.0	32.0
Derivative instruments at fair value, less than	0.1		$ 0.1	$ 0.1
Recurring Fair Value Measurements
Assets
Mortgage loans held for sale	4,267.2	1,630.8
Mortgage loans held for investment		119.1
Mortgage servicing rights	3,338.5	3,665.4
Derivative financial instruments	170.0	49.0
Total assets	7,775.5	5,464.7
Liabilities
Mortgage servicing rights financing	46.9	31.7
Excess spread financing	1,280.8	1,184.4
Total liabilities	1,346.7	1,235.8
Recurring Fair Value Measurements \| IRLCs
Assets
Derivative financial instruments	143.9	47.6
Liabilities
Derivative financial instruments	0.0
Recurring Fair Value Measurements \| Forward MBS trades
Assets
Derivative financial instruments	7.7	0.1
Liabilities
Derivative financial instruments	15.9	19.3
Recurring Fair Value Measurements \| LPCs
Assets
Derivative financial instruments	18.2	1.7
Liabilities
Derivative financial instruments	3.1	0.4
Recurring Fair Value Measurements \| Eurodollar futures
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 1
Assets
Mortgage loans held for sale	0.0	0.0
Mortgage loans held for investment		0.0
Mortgage servicing rights	0.0	0.0
Derivative financial instruments	0.0	0.0
Total assets	0.0	0.0
Liabilities
Mortgage servicing rights financing	0.0	0.0
Excess spread financing	0.0	0.0
Total liabilities	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| IRLCs
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0
Recurring Fair Value Measurements \| Level 1 \| Forward MBS trades
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| LPCs
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Eurodollar futures
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 2
Assets
Mortgage loans held for sale	4,267.2	1,630.8
Mortgage loans held for investment		0.0
Mortgage servicing rights	0.0	0.0
Derivative financial instruments	170.0	49.0
Total assets	4,437.0	1,680.2
Liabilities
Mortgage servicing rights financing	0.0	0.0
Excess spread financing	0.0	0.0
Total liabilities	19.0	19.7
Recurring Fair Value Measurements \| Level 2 \| IRLCs
Assets
Derivative financial instruments	143.9	47.6
Liabilities
Derivative financial instruments	0.0
Recurring Fair Value Measurements \| Level 2 \| Forward MBS trades
Assets
Derivative financial instruments	7.7	0.1
Liabilities
Derivative financial instruments	15.9	19.3
Recurring Fair Value Measurements \| Level 2 \| LPCs
Assets
Derivative financial instruments	18.2	1.7
Liabilities
Derivative financial instruments	3.1	0.4
Recurring Fair Value Measurements \| Level 2 \| Eurodollar futures
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 3
Assets
Mortgage loans held for sale	0.0	0.0
Mortgage loans held for investment		119.1
Mortgage servicing rights	3,338.5	3,665.4
Derivative financial instruments	0.0	0.0
Total assets	3,338.5	3,784.5
Liabilities
Mortgage servicing rights financing	46.9	31.7
Excess spread financing	1,280.8	1,184.4
Total liabilities	1,327.7	1,216.1
Recurring Fair Value Measurements \| Level 3 \| IRLCs
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0
Recurring Fair Value Measurements \| Level 3 \| Forward MBS trades
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 3 \| LPCs
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	0.0	0.0
Recurring Fair Value Measurements \| Level 3 \| Eurodollar futures
Assets
Derivative financial instruments	0.0	0.0
Liabilities
Derivative financial instruments	$ 0.0	$ 0.0

Fair Value Measurements - Level 3 Reconciliation (Details) - USD ($) $ in Millions	2 Months Ended	7 Months Ended	9 Months Ended
	Sep. 30, 2018	Jul. 31, 2018	Sep. 30, 2019
Excess spread financing
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	$ 1,039		$ 1,184
Total gains or losses included in earnings	26		(190)
Payments received from borrowers	0		0
Purchases	0		0
Issuances	84		469
Sales	0		0
Repayments	(21)		(19)
Settlements	(31)		(163)
Balance - end of period	1,097	$ 1,039	1,281
Mortgage servicing rights financing
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	26		32
Total gains or losses included in earnings	0		15
Payments received from borrowers	0		0
Purchases	0		0
Issuances	0		0
Sales	0		0
Repayments	0		0
Settlements	0		0
Balance - end of period	26	26	47
Mortgage servicing rights
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	3,413		3,665
Total gains or losses included in earnings	20		(1,039)
Payments received from borrowers	0		0
Purchases	72		732
Issuances	43		298
Sales	(63)		(317)
Repayments	0		0
Settlements	0		0
Transfers to mortgage loans held for sale			0
Transfers to real estate owned			0
Balance - end of period	3,485	3,413	3,339
Mortgage loans held for investment
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	125		119
Total gains or losses included in earnings	(1)		3
Payments received from borrowers	(2)		(11)
Purchases	0		0
Issuances	0		0
Sales	0		(94)
Repayments	0		0
Settlements	0		0
Transfers to mortgage loans held for sale			(12)
Transfers to real estate owned			(5)
Balance - end of period	122	125	$ 0
Nationstar Mortgage Holdings Inc. \| Excess spread financing
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	1,039	996
Total gains or losses included in earnings		81
Purchases		0
Issuances		70
Sales		0
Repayments		(3)
Settlements		(105)
Balance - end of period		1,039
Nationstar Mortgage Holdings Inc. \| Mortgage servicing rights financing
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	26	10
Total gains or losses included in earnings		16
Purchases		0
Issuances		0
Sales		0
Repayments		0
Settlements		0
Balance - end of period		26
Nationstar Mortgage Holdings Inc. \| Mortgage servicing rights
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	$ 3,413	2,937
Total gains or losses included in earnings		166
Purchases		144
Issuances		162
Sales		4
Repayments		0
Settlements		0
Balance - end of period		$ 3,413

Fair Value Measurements - Fair Value by Balance Sheet Line Item (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Financial assets
Restricted cash	$ 271.0	$ 319.0
Reverse mortgage interests, net	6,662.0	7,934.0
Mortgage loans held for sale	4,267.0	1,631.0
Mortgage loans held for investment	0.0	119.0
Financial liabilities
Unsecured senior notes	2,464.0	2,459.0
Advance facilities	513.0	595.0
Warehouse facilities	4,802.0	2,349.0
Mortgage servicing rights financing liability	47.0	32.0
Excess spread financing	1,281.0	1,184.0
Other nonrecourse debt	5,533.0	6,795.0
Participating interest financing
Financial liabilities
Other nonrecourse debt	4,581.0	5,607.0
Trust 2017-2
Financial liabilities
Other nonrecourse debt	0.0	231.0
Trust 2018-1
Financial liabilities
Other nonrecourse debt	201.0	284.0
Trust 2018-2
Financial liabilities
Other nonrecourse debt	161.0	250.0
Trust 2018-3
Financial liabilities
Other nonrecourse debt	239.0	326.0
Trust 2019-1
Financial liabilities
Other nonrecourse debt	339.0	0.0
Nonrecourse debt - legacy assets
Financial liabilities
Other nonrecourse debt	0.0	29.0
Recurring Fair Value Measurements
Financial assets
Cash and cash equivalents	371.0	242.0
Restricted cash	271.0	319.0
Advances and other receivables, net	967.0	1,194.0
Reverse mortgage interests, net	6,662.0	7,934.0
Mortgage loans held for sale	4,267.2	1,630.8
Mortgage loans held for investment		119.1
Derivative financial instruments	170.0	49.0
Financial liabilities
Unsecured senior notes	2,464.0	2,459.0
Advance facilities	513.0	595.0
Warehouse facilities	4,802.0	2,349.0
Mortgage servicing rights financing liability	46.9	31.7
Excess spread financing	1,281.0	1,184.0
Derivative financial instruments at fair value	19.0	20.0
Recurring Fair Value Measurements \| Participating interest financing
Financial liabilities
Other nonrecourse debt	4,593.0	5,675.0
Recurring Fair Value Measurements \| Trust 2017-2
Financial liabilities
Other nonrecourse debt		231.0
Recurring Fair Value Measurements \| Trust 2018-1
Financial liabilities
Other nonrecourse debt	201.0	284.0
Recurring Fair Value Measurements \| Trust 2018-2
Financial liabilities
Other nonrecourse debt	161.0	250.0
Recurring Fair Value Measurements \| Trust 2018-3
Financial liabilities
Other nonrecourse debt	239.0	326.0
Recurring Fair Value Measurements \| Trust 2019-1
Financial liabilities
Other nonrecourse debt	339.0
Recurring Fair Value Measurements \| Nonrecourse debt - legacy assets
Financial liabilities
Other nonrecourse debt		29.0
Recurring Fair Value Measurements \| Level 1
Financial assets
Cash and cash equivalents	371.0	242.0
Restricted cash	271.0	319.0
Advances and other receivables, net	0.0	0.0
Reverse mortgage interests, net	0.0	0.0
Mortgage loans held for sale	0.0	0.0
Mortgage loans held for investment		0.0
Derivative financial instruments	0.0	0.0
Financial liabilities
Unsecured senior notes	2,592.0	2,451.0
Advance facilities	0.0	0.0
Warehouse facilities	0.0	0.0
Mortgage servicing rights financing liability	0.0	0.0
Excess spread financing	0.0	0.0
Derivative financial instruments at fair value	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Participating interest financing
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2017-2
Financial liabilities
Other nonrecourse debt		0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2018-1
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2018-2
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2018-3
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2019-1
Financial liabilities
Other nonrecourse debt	0.0
Recurring Fair Value Measurements \| Level 1 \| Nonrecourse debt - legacy assets
Financial liabilities
Other nonrecourse debt		0.0
Recurring Fair Value Measurements \| Level 2
Financial assets
Cash and cash equivalents	0.0	0.0
Restricted cash	0.0	0.0
Advances and other receivables, net	0.0	0.0
Reverse mortgage interests, net	0.0	0.0
Mortgage loans held for sale	4,267.2	1,630.8
Mortgage loans held for investment		0.0
Derivative financial instruments	170.0	49.0
Financial liabilities
Unsecured senior notes	0.0	0.0
Advance facilities	513.0	595.0
Warehouse facilities	4,802.0	2,349.0
Mortgage servicing rights financing liability	0.0	0.0
Excess spread financing	0.0	0.0
Derivative financial instruments at fair value	19.0	20.0
Recurring Fair Value Measurements \| Level 2 \| Participating interest financing
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2017-2
Financial liabilities
Other nonrecourse debt		0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2018-1
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2018-2
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2018-3
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2019-1
Financial liabilities
Other nonrecourse debt	0.0
Recurring Fair Value Measurements \| Level 2 \| Nonrecourse debt - legacy assets
Financial liabilities
Other nonrecourse debt		0.0
Recurring Fair Value Measurements \| Level 3
Financial assets
Cash and cash equivalents	0.0	0.0
Restricted cash	0.0	0.0
Advances and other receivables, net	967.0	1,194.0
Reverse mortgage interests, net	6,726.0	7,934.0
Mortgage loans held for sale	0.0	0.0
Mortgage loans held for investment		119.1
Derivative financial instruments	0.0	0.0
Financial liabilities
Unsecured senior notes	0.0	0.0
Advance facilities	0.0	0.0
Warehouse facilities	0.0	0.0
Mortgage servicing rights financing liability	46.9	31.7
Excess spread financing	1,281.0	1,184.0
Derivative financial instruments at fair value	0.0	0.0
Recurring Fair Value Measurements \| Level 3 \| Participating interest financing
Financial liabilities
Other nonrecourse debt	4,590.0	5,672.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2017-2
Financial liabilities
Other nonrecourse debt		230.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2018-1
Financial liabilities
Other nonrecourse debt	201.0	284.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2018-2
Financial liabilities
Other nonrecourse debt	161.0	249.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2018-3
Financial liabilities
Other nonrecourse debt	239.0	326.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2019-1
Financial liabilities
Other nonrecourse debt	$ 339.0
Recurring Fair Value Measurements \| Level 3 \| Nonrecourse debt - legacy assets
Financial liabilities
Other nonrecourse debt		$ 28.0

Capital Requirements - Narrative (Details) $ in Millions	Sep. 30, 2019 USD ($)
Mortgage Banking [Abstract]
Minimum net worth required for compliance	$ 823

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019	Dec. 31, 2018
Loss Contingencies [Line Items]
Legal fees		$ 5	$ 24		$ 56
Reverse Mortgage Servicing Rights, Excluding Subservicing
Loss Contingencies [Line Items]
UPB			23,990		23,990	$ 28,415
Warehouse facilities, net of unamortized debt issuance costs
Loss Contingencies [Line Items]
Unfunded advance obligations			2,741		2,741	$ 3,128
Litigation and Regulatory Matters \| Minimum
Loss Contingencies [Line Items]
Estimate of possible loss			20		20
Litigation and Regulatory Matters \| Maximum
Loss Contingencies [Line Items]
Estimate of possible loss			$ 57		$ 57
Nationstar Mortgage Holdings Inc.
Loss Contingencies [Line Items]
Legal fees	$ 33			$ 40

Business Segment Reporting - Financial Information (Details) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2019 USD ($)	Jul. 31, 2018 USD ($)	Sep. 30, 2019 USD ($) segment	Dec. 31, 2018 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment					4
Revenues:
Service related, net		$ 259	$ 258		$ 479
Net gain on mortgage loans held for sale		83	360		788
Total revenues		342	618		1,267
Total Expenses		275	478		1,413
Other income (expenses)
Interest income		90	163		459
Interest expense		(122)	(196)		(572)
Other		6	0		16
Total other income (expenses), net		(26)	(33)		(97)
Income (loss) before income tax expense (benefit)		41	107		(243)
Depreciation and amortization for property and equipment and intangible assets		15	22		67
Total assets		17,728	18,478		18,478	$ 16,973
Servicing Segment
Revenues:
Net gain on mortgage loans held for sale					90
Operating Segments
Revenues:
Service related, net		259	258		479
Net gain on mortgage loans held for sale		83	349		777
Total revenues		342	607		1,256
Total Expenses		241	425		1,258
Other income (expenses)
Interest income		88	161		452
Interest expense		(85)	(144)		(410)
Other		6	2		18
Total other income (expenses), net		9	19		60
Income (loss) before income tax expense (benefit)		110	201		58
Depreciation and amortization for property and equipment and intangible assets		8	13		37
Total assets		15,983	16,364		16,364
Operating Segments \| Servicing Segment
Revenues:
Service related, net		183	163		198
Net gain on mortgage loans held for sale		0	0		0
Total revenues		183	163		198
Total Expenses		104	171		555
Other income (expenses)
Interest income		78	137		388
Interest expense		(74)	(120)		(343)
Other		5	0		0
Total other income (expenses), net		9	17		45
Income (loss) before income tax expense (benefit)		88	9		(312)
Depreciation and amortization for property and equipment and intangible assets		4	5		13
Total assets		14,166	12,049		12,049
Operating Segments \| Originations Segment
Revenues:
Service related, net		10	22		57
Net gain on mortgage loans held for sale		76	312		687
Total revenues		86	334		744
Total Expenses		66	155		404
Other income (expenses)
Interest income		10	24		64
Interest expense		(10)	(24)		(67)
Other		1	(1)		4
Total other income (expenses), net		1	(1)		1
Income (loss) before income tax expense (benefit)		21	178		341
Depreciation and amortization for property and equipment and intangible assets		2	4		13
Total assets		4,892	8,450		8,450
Operating Segments \| Xome Segment
Revenues:
Service related, net		73	112		316
Net gain on mortgage loans held for sale		0	0		0
Total revenues		73	112		316
Total Expenses		71	101		301
Other income (expenses)
Interest income		0	0		0
Interest expense		(1)	0		0
Other		0	3		14
Total other income (expenses), net		(1)	3		14
Income (loss) before income tax expense (benefit)		1	14		29
Depreciation and amortization for property and equipment and intangible assets		2	4		11
Total assets		457	515		515
Eliminations/Reclassification
Revenues:
Service related, net		(7)	(39)		(92)
Net gain on mortgage loans held for sale		7	37		90
Total revenues		0	(2)		(2)
Total Expenses		0	(2)		(2)
Other income (expenses)
Interest income		0	0		0
Interest expense		0	0		0
Other		0	0		0
Total other income (expenses), net		0	0		0
Income (loss) before income tax expense (benefit)		0	0		0
Depreciation and amortization for property and equipment and intangible assets		0	0		0
Total assets		(3,532)	(4,650)		(4,650)
Corporate/Other
Revenues:
Service related, net		0	0		0
Net gain on mortgage loans held for sale		0	11		11
Total revenues		0	11		11
Total Expenses		34	53		155
Other income (expenses)
Interest income		2	2		7
Interest expense		(37)	(52)		(162)
Other		0	(2)		(2)
Total other income (expenses), net		(35)	(52)		(157)
Income (loss) before income tax expense (benefit)		(69)	(94)		(301)
Depreciation and amortization for property and equipment and intangible assets		7	9		30
Total assets		$ 1,745	$ 2,114		$ 2,114
Nationstar Mortgage Holdings Inc.
Revenues:
Service related, net	$ 120			$ 901
Net gain on mortgage loans held for sale	44			295
Total revenues	164			1,196
Total Expenses	242			945
Other income (expenses)
Interest income	48			333
Interest expense	(53)			(388)
Other	0			6
Total other income (expenses), net	(5)			(49)
Income (loss) before income tax expense (benefit)	(83)			202
Depreciation and amortization for property and equipment and intangible assets	4			33
Total assets	17,026			17,026
Nationstar Mortgage Holdings Inc. \| Operating Segments
Revenues:
Service related, net	120			900
Net gain on mortgage loans held for sale	44			295
Total revenues	164			1,195
Total Expenses	179			842
Other income (expenses)
Interest income	47			326
Interest expense	(41)			(305)
Other	0			8
Total other income (expenses), net	6			29
Income (loss) before income tax expense (benefit)	(9)			382
Depreciation and amortization for property and equipment and intangible assets	4			29
Total assets	16,113			16,113
Nationstar Mortgage Holdings Inc. \| Operating Segments \| Servicing Segment
Revenues:
Service related, net	97			740
Net gain on mortgage loans held for sale	0			0
Total revenues	97			740
Total Expenses	126			474
Other income (expenses)
Interest income	41			288
Interest expense	(35)			(268)
Other	0			(1)
Total other income (expenses), net	6			19
Income (loss) before income tax expense (benefit)	(23)			285
Depreciation and amortization for property and equipment and intangible assets	2			15
Total assets	14,578			14,578
Nationstar Mortgage Holdings Inc. \| Operating Segments \| Originations Segment
Revenues:
Service related, net	4			36
Net gain on mortgage loans held for sale	41			270
Total revenues	45			306
Total Expenses	34			245
Other income (expenses)
Interest income	6			38
Interest expense	(6)			(37)
Other	0			0
Total other income (expenses), net	0			1
Income (loss) before income tax expense (benefit)	11			62
Depreciation and amortization for property and equipment and intangible assets	1			7
Total assets	4,701			4,701
Nationstar Mortgage Holdings Inc. \| Operating Segments \| Xome Segment
Revenues:
Service related, net	22			149
Net gain on mortgage loans held for sale	0			0
Total revenues	22			149
Total Expenses	19			123
Other income (expenses)
Interest income	0			0
Interest expense	0			0
Other	0			9
Total other income (expenses), net	0			9
Income (loss) before income tax expense (benefit)	3			35
Depreciation and amortization for property and equipment and intangible assets	1			7
Total assets	425			425
Nationstar Mortgage Holdings Inc. \| Eliminations/Reclassification
Revenues:
Service related, net	(3)			(25)
Net gain on mortgage loans held for sale	3			25
Total revenues	0			0
Total Expenses	0			0
Other income (expenses)
Interest income	0			0
Interest expense	0			0
Other	0			0
Total other income (expenses), net	0			0
Income (loss) before income tax expense (benefit)	0			0
Depreciation and amortization for property and equipment and intangible assets	0			0
Total assets	(3,591)			(3,591)
Nationstar Mortgage Holdings Inc. \| Corporate/Other
Revenues:
Service related, net	0			1
Net gain on mortgage loans held for sale	0			0
Total revenues	0			1
Total Expenses	63			103
Other income (expenses)
Interest income	1			7
Interest expense	(12)			(83)
Other	0			(2)
Total other income (expenses), net	(11)			(78)
Income (loss) before income tax expense (benefit)	(74)			(180)
Depreciation and amortization for property and equipment and intangible assets	0			4
Total assets	$ 913			$ 913

Guarantor Financial Statement Information - Narrative (Details) $ in Millions	Sep. 30, 2019 USD ($) subsidiary	Dec. 31, 2018 USD ($)
Condensed Financial Statements, Captions [Line Items]
Ownership percentage	100.00%
Number of subsidiaries as guarantors of unsecured debt \| subsidiary	3
Unsecured Senior Notes
Condensed Financial Statements, Captions [Line Items]
Unsecured debt	$ 2,498	$ 2,498
6.500% interest rate payable semi-annually, due July 2021 \| Unsecured Senior Notes
Condensed Financial Statements, Captions [Line Items]
Interest rate	6.50%
Unsecured debt	$ 592	592
6.500% interest rate payable semi-annually, due June 2022 \| Unsecured Senior Notes
Condensed Financial Statements, Captions [Line Items]
Interest rate	6.50%
Unsecured debt	$ 206	$ 206

Guarantor Financial Statement Information - Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jul. 31, 2018
Assets
Cash and cash equivalents	$ 371		$ 242	$ 198
Restricted cash	271		319
Mortgage servicing rights	3,346		3,676
Advances and other receivables, net	967		1,194
Reverse mortgage interests, net	6,662		7,934
Mortgage loans held for sale at fair value	4,267		1,631
Mortgage loans held for investment at fair value	0		119
Property and equipment, net	113		96
Deferred tax asset, net	1,032		967
Other assets	1,449		795
Investment in subsidiaries	0		0
Total assets	18,478		16,973	17,728
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	2,464		2,459
Advance facilities	513		595
Warehouse facilities	4,802		2,349
Payables and other liabilities	2,002		1,543
MSR related liabilities - nonrecourse at fair value	1,328		1,216
Mortgage servicing liabilities	69		71
Other nonrecourse debt, net	5,533		6,795
Payables to affiliates	0		0
Total liabilities	16,711		15,028
Total stockholders’ equity	1,767	$ 1,678	1,945	$ 2,078	$ 1,056
Total liabilities and stockholders’ equity	18,478		16,973
Eliminations
Assets
Cash and cash equivalents	0		0
Restricted cash	0		0
Mortgage servicing rights	0		0
Advances and other receivables, net	0		0
Reverse mortgage interests, net	0		0
Mortgage loans held for sale at fair value	0		0
Mortgage loans held for investment at fair value			0
Property and equipment, net	0		0
Deferred tax asset, net	0		0
Other assets	(895)		(688)
Investment in subsidiaries	(3,294)		(3,421)
Total assets	(4,189)		(4,109)
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	0		0
Advance facilities	0		0
Warehouse facilities	0		0
Payables and other liabilities	0		0
MSR related liabilities - nonrecourse at fair value	0		0
Mortgage servicing liabilities	0		0
Other nonrecourse debt, net	0		0
Payables to affiliates	(895)		(688)
Total liabilities	(895)		(688)
Total stockholders’ equity	(3,294)		(3,421)
Total liabilities and stockholders’ equity	(4,189)		(4,109)
Mr. Cooper \| Reportable entities
Assets
Cash and cash equivalents	0		0
Restricted cash	0		0
Mortgage servicing rights	0		0
Advances and other receivables, net	0		0
Reverse mortgage interests, net	0		0
Mortgage loans held for sale at fair value	0		0
Mortgage loans held for investment at fair value			0
Property and equipment, net	0		0
Deferred tax asset, net	984		973
Other assets	0		0
Investment in subsidiaries	2,612		2,820
Total assets	3,596		3,793
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	1,665		1,660
Advance facilities	0		0
Warehouse facilities	0		0
Payables and other liabilities	23		49
MSR related liabilities - nonrecourse at fair value	0		0
Mortgage servicing liabilities	0		0
Other nonrecourse debt, net	0		0
Payables to affiliates	141		139
Total liabilities	1,829		1,848
Total stockholders’ equity	1,767		1,945
Total liabilities and stockholders’ equity	3,596		3,793
Issuer \| Reportable entities
Assets
Cash and cash equivalents	331		193
Restricted cash	155		186
Mortgage servicing rights	3,322		3,644
Advances and other receivables, net	966		1,194
Reverse mortgage interests, net	5,733		6,770
Mortgage loans held for sale at fair value	4,267		1,631
Mortgage loans held for investment at fair value			1
Property and equipment, net	94		84
Deferred tax asset, net	46		0
Other assets	1,317		660
Investment in subsidiaries	682		601
Total assets	16,913		14,964
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	799		799
Advance facilities	64		90
Warehouse facilities	4,802		2,349
Payables and other liabilities	1,905		1,413
MSR related liabilities - nonrecourse at fair value	1,313		1,197
Mortgage servicing liabilities	69		71
Other nonrecourse debt, net	4,596		5,676
Payables to affiliates	753		549
Total liabilities	14,301		12,144
Total stockholders’ equity	2,612		2,820
Total liabilities and stockholders’ equity	16,913		14,964
Guarantor (Subsidiaries of Issuer) \| Reportable entities
Assets
Cash and cash equivalents	1		1
Restricted cash	0		0
Mortgage servicing rights	0		0
Advances and other receivables, net	0		0
Reverse mortgage interests, net	0		0
Mortgage loans held for sale at fair value	0		0
Mortgage loans held for investment at fair value			0
Property and equipment, net	0		0
Deferred tax asset, net	0		0
Other assets	213		202
Investment in subsidiaries	0		0
Total assets	214		203
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	0		0
Advance facilities	0		0
Warehouse facilities	0		0
Payables and other liabilities	2		1
MSR related liabilities - nonrecourse at fair value	0		0
Mortgage servicing liabilities	0		0
Other nonrecourse debt, net	0		0
Payables to affiliates	0		0
Total liabilities	2		1
Total stockholders’ equity	212		202
Total liabilities and stockholders’ equity	214		203
Non-Guarantor (Subsidiaries of Issuer) \| Reportable entities
Assets
Cash and cash equivalents	39		48
Restricted cash	116		133
Mortgage servicing rights	24		32
Advances and other receivables, net	1		0
Reverse mortgage interests, net	929		1,164
Mortgage loans held for sale at fair value	0		0
Mortgage loans held for investment at fair value			118
Property and equipment, net	19		12
Deferred tax asset, net	2		(6)
Other assets	814		621
Investment in subsidiaries	0		0
Total assets	1,944		2,122
Liabilities and Stockholders’ Equity
Unsecured senior notes, net	0		0
Advance facilities	449		505
Warehouse facilities	0		0
Payables and other liabilities	72		80
MSR related liabilities - nonrecourse at fair value	15		19
Mortgage servicing liabilities	0		0
Other nonrecourse debt, net	937		1,119
Payables to affiliates	1		0
Total liabilities	1,474		1,723
Total stockholders’ equity	470		399
Total liabilities and stockholders’ equity	$ 1,944		$ 2,122

Guarantor Financial Statement Information - Consolidating Statements of Operations (Details) - USD ($) $ in Millions	1 Months Ended	2 Months Ended	3 Months Ended	7 Months Ended	9 Months Ended
	Jul. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Jul. 31, 2018	Sep. 30, 2019
Revenues:
Service related, net		$ 259	$ 258		$ 479
Net gain on mortgage loans held for sale		83	360		788
Total revenues		342	618		1,267
Expenses:
Salaries, wages and benefits		139	250		703
General and administrative		136	228		710
Total expenses		275	478		1,413
Other income (expenses):
Interest income		90	163		459
Interest expense		(122)	(196)		(572)
Other income (expenses)		6	0		16
Gain (loss) from subsidiaries		0	0		0
Total other income (expenses), net		(26)	(33)		(97)
Income (loss) before income tax expense (benefit)		41	107		(243)
Less: Income tax (benefit) expense		979	(24)		52
Net income (loss)		1,020	83		(191)
Less: Net loss attributable to non-controlling interests		0	(1)		(2)
Net income (loss) attributable to Successor/Predecessor		1,020	84		(189)
Eliminations
Revenues:
Service related, net		0	0		0
Net gain on mortgage loans held for sale		0	0		0
Total revenues		0	0		0
Expenses:
Salaries, wages and benefits		0	0		0
General and administrative		0	0		0
Total expenses		0	0		0
Other income (expenses):
Interest income		0	0		0
Interest expense		0	0		0
Other income (expenses)		0	0		0
Gain (loss) from subsidiaries		(57)	(192)		(7)
Total other income (expenses), net		(57)	(192)		(7)
Income (loss) before income tax expense (benefit)		(57)	(192)		(7)
Less: Income tax (benefit) expense		0	0		0
Net income (loss)		(57)	(192)		(7)
Less: Net loss attributable to non-controlling interests		0	0		0
Net income (loss) attributable to Successor/Predecessor		(57)	(192)		(7)
Mr. Cooper \| Reportable entities
Revenues:
Service related, net		0	0		0
Net gain on mortgage loans held for sale		0	0		0
Total revenues		0	0		0
Expenses:
Salaries, wages and benefits		0	0		0
General and administrative		1	0		0
Total expenses		1	0		0
Other income (expenses):
Interest income		0	0		0
Interest expense		(26)	(37)		(114)
Other income (expenses)		1	0		0
Gain (loss) from subsidiaries		56	121		(75)
Total other income (expenses), net		31	84		(189)
Income (loss) before income tax expense (benefit)		30	84		(189)
Less: Income tax (benefit) expense		990	0		0
Net income (loss)		1,020	84		(189)
Less: Net loss attributable to non-controlling interests		0	0		0
Net income (loss) attributable to Successor/Predecessor		1,020	84		(189)
Issuer \| Reportable entities
Revenues:
Service related, net		183	137		139
Net gain on mortgage loans held for sale		83	349		777
Total revenues		266	486		916
Expenses:
Salaries, wages and benefits		107	209		581
General and administrative		91	185		529
Total expenses		198	394		1,110
Other income (expenses):
Interest income		80	127		392
Interest expense		(87)	(143)		(411)
Other income (expenses)		5	(3)		2
Gain (loss) from subsidiaries		1	71		82
Total other income (expenses), net		(1)	52		65
Income (loss) before income tax expense (benefit)		67	144		(129)
Less: Income tax (benefit) expense		(11)	(24)		52
Net income (loss)		56	120		(77)
Less: Net loss attributable to non-controlling interests		0	(1)		(2)
Net income (loss) attributable to Successor/Predecessor		56	121		(75)
Guarantor (Subsidiaries of Issuer) \| Reportable entities
Revenues:
Service related, net		4	5		16
Net gain on mortgage loans held for sale		0	0		0
Total revenues		4	5		16
Expenses:
Salaries, wages and benefits		1	1		3
General and administrative		1	0		2
Total expenses		2	1		5
Other income (expenses):
Interest income		0	0		0
Interest expense		0	0		0
Other income (expenses)		0	0		0
Gain (loss) from subsidiaries		0	0		0
Total other income (expenses), net		0	0		0
Income (loss) before income tax expense (benefit)		2	4		11
Less: Income tax (benefit) expense		0	0		0
Net income (loss)		2	4		11
Less: Net loss attributable to non-controlling interests		0	0		0
Net income (loss) attributable to Successor/Predecessor		2	4		11
Non-Guarantor (Subsidiaries of Issuer) \| Reportable entities
Revenues:
Service related, net		72	116		324
Net gain on mortgage loans held for sale		0	11		11
Total revenues		72	127		335
Expenses:
Salaries, wages and benefits		31	40		119
General and administrative		43	43		179
Total expenses		74	83		298
Other income (expenses):
Interest income		10	36		67
Interest expense		(9)	(16)		(47)
Other income (expenses)		0	3		14
Gain (loss) from subsidiaries		0	0		0
Total other income (expenses), net		1	23		34
Income (loss) before income tax expense (benefit)		(1)	67		71
Less: Income tax (benefit) expense		0	0		0
Net income (loss)		(1)	67		71
Less: Net loss attributable to non-controlling interests		0	0		0
Net income (loss) attributable to Successor/Predecessor		$ (1)	$ 67		$ 71
Nationstar Mortgage Holdings Inc.
Revenues:
Service related, net	$ 120			$ 901
Net gain on mortgage loans held for sale	44			295
Total revenues	164			1,196
Expenses:
Salaries, wages and benefits	69			426
General and administrative	173			519
Total expenses	242			945
Other income (expenses):
Interest income	48			333
Interest expense	(53)			(388)
Other income (expenses)	0			6
Gain (loss) from subsidiaries	0			0
Total other income (expenses), net	(5)			(49)
Income (loss) before income tax expense (benefit)	(83)			202
Less: Income tax (benefit) expense	19			(48)
Net income (loss)	(64)			154
Less: Net loss attributable to non-controlling interests	0			0
Net income (loss) attributable to Successor/Predecessor	(64)			154
Nationstar Mortgage Holdings Inc. \| Eliminations
Revenues:
Service related, net	0			0
Net gain on mortgage loans held for sale	0			0
Total revenues	0			0
Expenses:
Salaries, wages and benefits	0			0
General and administrative	0			0
Total expenses	0			0
Other income (expenses):
Interest income	0			0
Interest expense	0			0
Other income (expenses)	0			0
Gain (loss) from subsidiaries	30			(237)
Total other income (expenses), net	30			(237)
Income (loss) before income tax expense (benefit)	30			(237)
Less: Income tax (benefit) expense	0			0
Net income (loss)	30			(237)
Less: Net loss attributable to non-controlling interests	0			0
Net income (loss) attributable to Successor/Predecessor	30			(237)
Nationstar Mortgage Holdings Inc. \| Mr. Cooper \| Reportable entities
Revenues:
Service related, net	0			0
Net gain on mortgage loans held for sale	0			0
Total revenues	0			0
Expenses:
Salaries, wages and benefits	0			0
General and administrative	27			27
Total expenses	27			27
Other income (expenses):
Interest income	0			0
Interest expense	0			0
Other income (expenses)	0			0
Gain (loss) from subsidiaries	(37)			181
Total other income (expenses), net	(37)			181
Income (loss) before income tax expense (benefit)	(64)			154
Less: Income tax (benefit) expense	0			0
Net income (loss)	(64)			154
Less: Net loss attributable to non-controlling interests	0			0
Net income (loss) attributable to Successor/Predecessor	(64)			154
Nationstar Mortgage Holdings Inc. \| Issuer \| Reportable entities
Revenues:
Service related, net	95			732
Net gain on mortgage loans held for sale	44			295
Total revenues	139			1,027
Expenses:
Salaries, wages and benefits	59			359
General and administrative	136			427
Total expenses	195			786
Other income (expenses):
Interest income	41			299
Interest expense	(49)			(364)
Other income (expenses)	0			(3)
Gain (loss) from subsidiaries	7			56
Total other income (expenses), net	(1)			(12)
Income (loss) before income tax expense (benefit)	(57)			229
Less: Income tax (benefit) expense	20			(48)
Net income (loss)	(37)			181
Less: Net loss attributable to non-controlling interests	0			0
Net income (loss) attributable to Successor/Predecessor	(37)			181
Nationstar Mortgage Holdings Inc. \| Guarantor (Subsidiaries of Issuer) \| Reportable entities
Revenues:
Service related, net	3			16
Net gain on mortgage loans held for sale	0			0
Total revenues	3			16
Expenses:
Salaries, wages and benefits	0			3
General and administrative	0			1
Total expenses	0			4
Other income (expenses):
Interest income	0			0
Interest expense	0			0
Other income (expenses)	0			0
Gain (loss) from subsidiaries	0			0
Total other income (expenses), net	0			0
Income (loss) before income tax expense (benefit)	3			12
Less: Income tax (benefit) expense	0			0
Net income (loss)	3			12
Less: Net loss attributable to non-controlling interests	0			0
Net income (loss) attributable to Successor/Predecessor	3			12
Nationstar Mortgage Holdings Inc. \| Non-Guarantor (Subsidiaries of Issuer) \| Reportable entities
Revenues:
Service related, net	22			153
Net gain on mortgage loans held for sale	0			0
Total revenues	22			153
Expenses:
Salaries, wages and benefits	10			64
General and administrative	10			64
Total expenses	20			128
Other income (expenses):
Interest income	7			34
Interest expense	(4)			(24)
Other income (expenses)	0			9
Gain (loss) from subsidiaries	0			0
Total other income (expenses), net	3			19
Income (loss) before income tax expense (benefit)	5			44
Less: Income tax (benefit) expense	(1)			0
Net income (loss)	4			44
Less: Net loss attributable to non-controlling interests	0			0
Net income (loss) attributable to Successor/Predecessor	$ 4			$ 44

Guarantor Financial Statement Information - Consolidating Statements of Cash Flow (Details) - USD ($)
$ in Millions

1 Months Ended

2 Months Ended

3 Months Ended

7 Months Ended

9 Months Ended

Jul. 31, 2018

Sep. 30, 2018

Sep. 30, 2019

Jul. 31, 2018

Sep. 30, 2019

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

$ 1,020

$ 84

$ (189)

Net income attributable to non-controlling interests

(931)

(53)

0

(1)

(2)

0

(83)

(360)

(788)

(72)

(241)

0

0

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

14

53

(27)

998

Fair value changes in mortgage servicing rights financing liability

26

(190)

0

15

Fair value changes in mortgage loans held for investment

0

(3)

Amortization of premiums, net of discount accretion

3

(38)

Depreciation and amortization for property and equipment and intangible assets

15

22

67

2

14

Repurchases of forward loan assets out of Ginnie Mae securitizations

0

5

(223)

(1,823)

Mortgage loans originated and purchased for sale, net of fees

(3,458)

(27,673)

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

3,546

27,916

76

265

442

1,700

(15)

8

(159)

(69)

176

(28)

(33)

(85)

Purchase of forward mortgage servicing rights, net of liabilities incurred

(14)

(38)

(63)

(454)

0

Proceeds on sale of forward and reverse mortgage servicing rights

60

298

0

(50)

(279)

186

1,930

46

(95)

0

(294)

0

398

0

20

Proceeds from issuance of participating interest financing in reverse mortgage interests

(91)

(568)

45

220

Repayment of participating interest financing in reverse mortgage interests

(403)

(1,472)

84

469

(21)

(19)

(31)

(163)

(3)

(29)

0

(3)

0

0

(1)

(1,030)

0

(1)

(5)

0

Net increase (decrease) in cash, cash equivalents, and restricted cash

(1,219)

388

(1,093)

81

Cash, cash equivalents, and restricted cash - beginning of period

1,623

561

Cash, cash equivalents, and restricted cash - end of period

$ 1,623

530

^[1]

642

^[1]

$ 1,623

642

^[1]

Eliminations

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

(57)

(192)

(7)

Net income attributable to non-controlling interests

0

0

57

7

0

0

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

0

0

Fair value changes in mortgage servicing rights financing liability

0

0

Fair value changes in mortgage loans held for investment

0

Amortization of premiums, net of discount accretion

0

Depreciation and amortization for property and equipment and intangible assets

0

0

Repurchases of forward loan assets out of Ginnie Mae securitizations

0

0

Mortgage loans originated and purchased for sale, net of fees

0

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

0

0

0

0

0

0

0

Purchase of forward mortgage servicing rights, net of liabilities incurred

0

0

Proceeds on sale of forward and reverse mortgage servicing rights

0

0

0

0

0

0

0

Proceeds from issuance of participating interest financing in reverse mortgage interests

0

0

Repayment of participating interest financing in reverse mortgage interests

0

0

0

0

0

0

0

0

0

Net increase (decrease) in cash, cash equivalents, and restricted cash

0

0

Cash, cash equivalents, and restricted cash - beginning of period

0

Cash, cash equivalents, and restricted cash - end of period

0

Mr. Cooper | Reportable entities

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

1,020

84

(189)

Net income attributable to non-controlling interests

(990)

0

0

(56)

75

0

0

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

0

0

Fair value changes in mortgage servicing rights financing liability

0

0

Fair value changes in mortgage loans held for investment

0

Amortization of premiums, net of discount accretion

1

5

Depreciation and amortization for property and equipment and intangible assets

0

0

Repurchases of forward loan assets out of Ginnie Mae securitizations

0

0

Mortgage loans originated and purchased for sale, net of fees

0

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

0

0

0

0

19

109

(6)

0

0

Purchase of forward mortgage servicing rights, net of liabilities incurred

0

0

Proceeds on sale of forward and reverse mortgage servicing rights

0

0

0

0

0

0

0

Proceeds from issuance of participating interest financing in reverse mortgage interests

0

0

Repayment of participating interest financing in reverse mortgage interests

0

0

0

0

0

0

0

0

0

Net increase (decrease) in cash, cash equivalents, and restricted cash

0

(6)

0

Cash, cash equivalents, and restricted cash - beginning of period

11

0

Cash, cash equivalents, and restricted cash - end of period

11

5

0

11

0

Issuer | Reportable entities

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

56

121

(75)

Net income attributable to non-controlling interests

52

(53)

0

(1)

(2)

(1)

(82)

(83)

(349)

(777)

(72)

(208)

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

14

53

(27)

990

Fair value changes in mortgage servicing rights financing liability

26

(186)

15

Fair value changes in mortgage loans held for investment

0

Amortization of premiums, net of discount accretion

2

(21)

Depreciation and amortization for property and equipment and intangible assets

13

55

2

11

Repurchases of forward loan assets out of Ginnie Mae securitizations

5

(223)

(1,823)

Mortgage loans originated and purchased for sale, net of fees

(3,458)

(27,685)

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

3,537

27,777

76

266

425

1,515

25

141

(179)

(164)

185

(248)

0

(85)

Purchase of forward mortgage servicing rights, net of liabilities incurred

(20)

(27)

(63)

(454)

Proceeds on sale of forward and reverse mortgage servicing rights

60

298

(23)

(268)

186

1,930

(17)

(39)

(294)

0

0

Proceeds from issuance of participating interest financing in reverse mortgage interests

0

45

220

Repayment of participating interest financing in reverse mortgage interests

(403)

(1,472)

84

469

(21)

(19)

(31)

(163)

0

(3)

(1)

(1,030)

(1)

(5)

Net increase (decrease) in cash, cash equivalents, and restricted cash

(1,188)

623

(1,026)

107

Cash, cash equivalents, and restricted cash - beginning of period

1,358

379

Cash, cash equivalents, and restricted cash - end of period

1,358

332

486

1,358

486

Guarantor (Subsidiaries of Issuer) | Reportable entities

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

2

4

11

Net income attributable to non-controlling interests

0

0

0

0

0

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

0

0

Fair value changes in mortgage servicing rights financing liability

0

0

Fair value changes in mortgage loans held for investment

0

Amortization of premiums, net of discount accretion

0

Depreciation and amortization for property and equipment and intangible assets

0

0

Repurchases of forward loan assets out of Ginnie Mae securitizations

0

0

Mortgage loans originated and purchased for sale, net of fees

0

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

0

0

0

(3)

(12)

1

0

0

Purchase of forward mortgage servicing rights, net of liabilities incurred

0

0

Proceeds on sale of forward and reverse mortgage servicing rights

0

0

0

0

0

0

0

Proceeds from issuance of participating interest financing in reverse mortgage interests

0

0

Repayment of participating interest financing in reverse mortgage interests

0

0

0

0

0

0

0

0

0

Net increase (decrease) in cash, cash equivalents, and restricted cash

0

0

Cash, cash equivalents, and restricted cash - beginning of period

1

Cash, cash equivalents, and restricted cash - end of period

1

Non-Guarantor (Subsidiaries of Issuer) | Reportable entities

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

(1)

67

71

Net income attributable to non-controlling interests

7

0

0

0

0

(11)

0

(33)

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

0

0

8

Fair value changes in mortgage servicing rights financing liability

0

(4)

0

Fair value changes in mortgage loans held for investment

(3)

Amortization of premiums, net of discount accretion

0

(22)

Depreciation and amortization for property and equipment and intangible assets

2

12

0

3

Repurchases of forward loan assets out of Ginnie Mae securitizations

0

0

Mortgage loans originated and purchased for sale, net of fees

0

12

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

9

139

0

(1)

17

185

(37)

(121)

0

(15)

(3)

220

(33)

0

Purchase of forward mortgage servicing rights, net of liabilities incurred

6

(11)

0

Proceeds on sale of forward and reverse mortgage servicing rights

0

(27)

(11)

0

63

(56)

0

398

20

Proceeds from issuance of participating interest financing in reverse mortgage interests

(91)

(568)

0

Repayment of participating interest financing in reverse mortgage interests

0

0

0

0

(3)

(29)

0

0

0

0

Net increase (decrease) in cash, cash equivalents, and restricted cash

(31)

(235)

(61)

(26)

Cash, cash equivalents, and restricted cash - beginning of period

253

181

Cash, cash equivalents, and restricted cash - end of period

253

192

$ 155

253

$ 155

Nationstar Mortgage Holdings Inc.

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

(64)

154

Net income attributable to non-controlling interests

0

0

0

(44)

(295)

(274)

(9)

59

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

70

(177)

Fair value changes in mortgage servicing rights financing liability

81

16

Fair value changes in mortgage loans held for investment

0

Amortization of premiums, net of discount accretion

8

Depreciation and amortization for property and equipment and intangible assets

4

33

17

Repurchases of forward loan assets out of Ginnie Mae securitizations

3

(544)

Mortgage loans originated and purchased for sale, net of fees

(12,328)

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

13,392

377

1,601

(41)

151

2,294

0

Purchase of forward mortgage servicing rights, net of liabilities incurred

(40)

(134)

(1)

Proceeds on sale of forward and reverse mortgage servicing rights

0

13

(162)

(585)

(305)

0

759

0

Proceeds from issuance of participating interest financing in reverse mortgage interests

(448)

208

Repayment of participating interest financing in reverse mortgage interests

(1,599)

70

(3)

(105)

(7)

0

(62)

(9)

0

(24)

(1)

Net increase (decrease) in cash, cash equivalents, and restricted cash

(2,111)

21

Cash, cash equivalents, and restricted cash - beginning of period

596

^[1]

575

Cash, cash equivalents, and restricted cash - end of period

^[1]

596

Nationstar Mortgage Holdings Inc. | Eliminations

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

30

(237)

Net income attributable to non-controlling interests

0

237

0

0

0

0

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

0

0

Fair value changes in mortgage servicing rights financing liability

0

0

Amortization of premiums, net of discount accretion

0

Depreciation and amortization for property and equipment and intangible assets

0

0

Repurchases of forward loan assets out of Ginnie Mae securitizations

0

0

Mortgage loans originated and purchased for sale, net of fees

0

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

0

0

0

0

0

0

Purchase of forward mortgage servicing rights, net of liabilities incurred

0

0

0

0

0

0

0

Proceeds from issuance of participating interest financing in reverse mortgage interests

0

0

Repayment of participating interest financing in reverse mortgage interests

0

0

0

0

0

0

0

0

0

Net increase (decrease) in cash, cash equivalents, and restricted cash

0

0

Cash, cash equivalents, and restricted cash - beginning of period

0

Cash, cash equivalents, and restricted cash - end of period

0

Nationstar Mortgage Holdings Inc. | Mr. Cooper | Reportable entities

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

(64)

154

Net income attributable to non-controlling interests

0

(181)

0

0

0

0

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

0

0

Fair value changes in mortgage servicing rights financing liability

0

0

Amortization of premiums, net of discount accretion

0

Depreciation and amortization for property and equipment and intangible assets

0

0

Repurchases of forward loan assets out of Ginnie Mae securitizations

0

0

Mortgage loans originated and purchased for sale, net of fees

0

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

0

0

0

9

27

9

Purchase of forward mortgage servicing rights, net of liabilities incurred

0

0

0

0

0

0

0

Proceeds from issuance of participating interest financing in reverse mortgage interests

0

0

Repayment of participating interest financing in reverse mortgage interests

0

0

0

0

0

0

(9)

0

0

Net increase (decrease) in cash, cash equivalents, and restricted cash

(9)

0

Cash, cash equivalents, and restricted cash - beginning of period

0

Cash, cash equivalents, and restricted cash - end of period

0

Nationstar Mortgage Holdings Inc. | Issuer | Reportable entities

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

(37)

181

Net income attributable to non-controlling interests

0

(56)

(44)

(295)

(274)

0

59

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

70

(178)

Fair value changes in mortgage servicing rights financing liability

81

16

Amortization of premiums, net of discount accretion

11

Depreciation and amortization for property and equipment and intangible assets

26

16

Repurchases of forward loan assets out of Ginnie Mae securitizations

3

(544)

Mortgage loans originated and purchased for sale, net of fees

(12,328)

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

13,381

377

1,866

(293)

128

2,247

Purchase of forward mortgage servicing rights, net of liabilities incurred

(35)

(127)

(1)

0

(163)

(585)

(55)

0

Proceeds from issuance of participating interest financing in reverse mortgage interests

0

208

Repayment of participating interest financing in reverse mortgage interests

(1,599)

70

(3)

(105)

0

(62)

0

(24)

(1)

Net increase (decrease) in cash, cash equivalents, and restricted cash

(2,156)

(72)

Cash, cash equivalents, and restricted cash - beginning of period

351

423

Cash, cash equivalents, and restricted cash - end of period

351

Nationstar Mortgage Holdings Inc. | Guarantor (Subsidiaries of Issuer) | Reportable entities

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

3

12

Net income attributable to non-controlling interests

0

0

0

0

0

0

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

0

0

Fair value changes in mortgage servicing rights financing liability

0

0

Amortization of premiums, net of discount accretion

0

Depreciation and amortization for property and equipment and intangible assets

0

0

Repurchases of forward loan assets out of Ginnie Mae securitizations

0

0

Mortgage loans originated and purchased for sale, net of fees

0

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

0

0

0

(12)

0

0

Purchase of forward mortgage servicing rights, net of liabilities incurred

0

0

0

0

0

0

0

Proceeds from issuance of participating interest financing in reverse mortgage interests

0

0

Repayment of participating interest financing in reverse mortgage interests

0

0

0

0

0

0

0

0

0

Net increase (decrease) in cash, cash equivalents, and restricted cash

0

0

Cash, cash equivalents, and restricted cash - beginning of period

1

Cash, cash equivalents, and restricted cash - end of period

1

Nationstar Mortgage Holdings Inc. | Non-Guarantor (Subsidiaries of Issuer) | Reportable entities

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:

4

44

Net income attributable to non-controlling interests

0

0

0

0

(9)

0

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

0

1

Fair value changes in mortgage servicing rights financing liability

0

0

Amortization of premiums, net of discount accretion

(3)

Depreciation and amortization for property and equipment and intangible assets

7

1

Repurchases of forward loan assets out of Ginnie Mae securitizations

0

0

Mortgage loans originated and purchased for sale, net of fees

0

Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

11

0

(265)

255

(4)

38

Purchase of forward mortgage servicing rights, net of liabilities incurred

(5)

(7)

0

13

1

0

(250)

759

Proceeds from issuance of participating interest financing in reverse mortgage interests

(448)

0

Repayment of participating interest financing in reverse mortgage interests

0

0

0

0

(7)

0

0

0

0