Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2017	Oct. 31, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Nationstar Mortgage Holdings Inc.
Entity Central Index Key	0001520566
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		97,726,450

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 224	$ 489
Restricted cash	356	388
Mortgage servicing rights, $2,956 and $3,160 at fair value, respectively	2,961	3,166
Advances and other receivables, net of reserves of $253 and $184, respectively	1,625	1,749
Reverse mortgage interests, net of reserves of $88 and $131, respectively	10,299	11,033
Mortgage loans held for sale at fair value	1,646	1,788
Mortgage loans held for investment, net	143	151
Property and equipment, net of accumulated depreciation of $156 and $118, respectively	127	136
Derivative financial instruments at fair value	76	133
Other assets	547	560
Total assets	18,004	19,593
Liabilities and Stockholders' Equity
Unsecured senior notes, net	1,873	1,990
Advance facilities, net	797	1,096
Warehouse facilities, net	2,774	2,421
Payables and accrued liabilities	1,188	1,470
MSR related liabilities - nonrecourse at fair value	1,066	1,241
Mortgage servicing liabilities	53	48
Derivative financial instruments at fair value	7	13
Other nonrecourse debt, net	8,569	9,631
Total liabilities	16,327	17,910
Commitments and contingencies (Note 15)
Preferred stock at $0.01 par value - 300,000 thousand shares authorized, no shares issued and outstanding	0	0
Common stock at $0.01 par value - 1,000,000 thousand shares authorized, 109,915 thousand and 109,915 thousand shares issued, respectively	1	1
Additional paid-in-capital	1,127	1,122
Retained earnings	690	701
Treasury shares at cost -12,192 thousand and 12,418 thousand shares, respectively	(148)	(147)
Total Nationstar stockholders' equity	1,670	1,677
Noncontrolling interest	7	6
Total stockholders' equity	1,677	1,683
Total liabilities and stockholders' equity	$ 18,004	$ 19,593

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Mortgage servicing rights at fair value	$ 2,956	$ 3,160
Advances and other receivables, Reserves	253	184
Reverse mortgage interests, Reserves	88	131
Accumulated depreciation	$ 156	$ 118
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	300,000,000	300,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	109,915,000	109,915,000
Treasury Shares	12,192,000	12,418,000

Unaudited Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Service related, net	$ 252	$ 310	$ 748	$ 507
Net gain on mortgage loans held for sale	154	232	465	619
Total revenues	406	542	1,213	1,126
Expenses:
Salaries, wages and benefits	183	211	557	613
General and administrative	185	196	552	619
Total expenses	368	407	1,109	1,232
Other income (expenses):
Interest income	157	103	435	313
Interest expense	(181)	(165)	(557)	(493)
Other income (expenses)	(2)	(2)	4	(2)
Total other income (expenses), net	(26)	(64)	(118)	(182)
Income (loss) before income tax expense (benefit)	12	71	(14)	(288)
Less: Income tax expense (benefit)	5	29	(4)	(106)
Net income (loss)	7	42	(10)	(182)
Less: Net income (loss) attributable to non-controlling interests	0	(3)	1	(3)
Net income (loss) attributable to Nationstar	$ 7	$ 45	$ (11)	$ (179)
Net income (loss) per common share attributable to Nationstar:
Basic (in dollars per share)	$ 0.07	$ 0.46	$ (0.11)	$ (1.78)
Diluted (in dollars per share)	$ 0.07	$ 0.46	$ (0.11)	$ (1.78)
Weighted average shares of common stock outstanding (in thousands):
Basic (in shares)	97,706	97,461	97,685	100,524
Dilutive effect of stock awards (in shares)	988	893	0	0
Diluted (in shares)	98,694	98,354	97,685	100,524

Unaudited Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Treasury Share Amount	Total Nationstar Stockholders' Equity	Non-controlling Interests
Beginning of Period, shares at Dec. 31, 2015		108,000
Beginning of Period at Dec. 31, 2015	$ 1,767	$ 1	$ 1,105	$ 682	$ (30)	$ 1,758	$ 9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (surrendered) under incentive plan, net, shares		87
Shares issued (surrendered) under incentive plan, net	(3)				(3)	(3)
Share-based compensation	18		18			18
Excess tax deficiency from share based compensation	(4)		(4)			(4)
Repurchase of common stock, shares		(10,589)
Repurchase of common stock	(114)				(114)	(114)
Net (loss) income	(182)			(179)		(179)	(3)
Ending of Period at Sep. 30, 2016	1,482	$ 1	1,119	503	(147)	1,476	6
Ending of Period, shares at Sep. 30, 2016		97,498
Beginning of Period, shares at Dec. 31, 2016		97,497
Beginning of Period at Dec. 31, 2016	1,683	$ 1	1,122	701	(147)	1,677	6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares issued (surrendered) under incentive plan, net, shares		226
Shares issued (surrendered) under incentive plan, net	(4)		(3)		(1)	(4)
Share-based compensation	13		13			13
Repurchase of common stock, shares		0
Dividends to noncontrolling interests	(5)		(5)			(5)
Net (loss) income	(10)			(11)		(11)	1
Ending of Period at Sep. 30, 2017	$ 1,677	$ 1	$ 1,127	$ 690	$ (148)	$ 1,670	$ 7
Ending of Period, shares at Sep. 30, 2017		97,723

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating Activities
Net loss attributable to Nationstar	$ (11)	$ (179)
Adjustments to reconcile net loss to net cash attributable to operating activities:
Net income (loss) attributable to non-controlling interest	1	(3)
Net gain on mortgage loans held for sale	(465)	(619)
Reverse mortgage loan interest income	(368)	(251)
(Gain) loss on sale of assets	(8)	2
Provision for servicing reserves	113	101
Fair value changes and amortization of mortgage servicing rights	361	778
Fair value changes in excess spread financing	0	(74)
Fair value changes in mortgage servicing rights financing liability	(7)	(2)
Amortization of premiums and accretion of discounts	63	48
Depreciation and amortization	44	48
Share-based compensation	13	18
Other losses	5	0
Repurchases of forward loan assets out of Ginnie Mae securitizations	(943)	(1,138)
Repurchases of reverse loan assets out of Ginnie Mae securitizations, net of assignments to prior servicers	(2,468)	(1,609)
Mortgage loans originated and purchased, net of fees, and other purchase-related activities	(14,002)	(15,063)
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	15,472	16,268
Excess tax (deficiency) benefit from share-based compensation	(1)	4
Changes in assets and liabilities:
Advances and other receivables, net	55	504
Reverse mortgage interests, net	3,494	2,022
Other assets	(17)	(136)
Payables and accrued liabilities	(284)	(139)
Net cash attributable to operating activities	1,047	580
Investing Activities
Property and equipment additions, net of disposals	(34)	(49)
Purchase of forward mortgage servicing rights, net of liabilities incurred	(28)	(36)
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables	16	0
Proceeds on sale of forward and reverse mortgage servicing rights	25	25
Proceeds on sale of assets	16	0
Net cash attributable to investing activities	(5)	(60)
Financing Activities
Increase in warehouse facilities	351	718
Decrease in advance facilities	(298)	(458)
Proceeds from issuance of HECM securitizations	701	724
Repayment of HECM securitizations	(484)	(624)
Proceeds from issuance of participating interest financing in reverse mortgage interests	437	337
Repayment of participating interest financing in reverse mortgage interests	(1,730)	(817)
Repayment of excess spread financing	(168)	(146)
Repayment of nonrecourse debt – legacy assets	(12)	(12)
Repurchase of unsecured senior notes	(122)	(29)
Repurchase of common stock	0	(114)
Transfers from restricted cash, net	38	0
Excess tax deficiency from share based compensation	0	(4)
Surrender of shares relating to stock vesting	(4)	(3)
Debt financing costs	(11)	(10)
Dividends to noncontrolling interests	(5)	0
Net cash attributable to financing activities	(1,307)	(438)
Net (decrease) increase in cash and cash equivalents	(265)	82
Cash and cash equivalents - beginning of period	489	613
Cash and cash equivalents - end of period	224	695
Supplemental Disclosures of Cash Activities
Cash paid for interest expense	577	510
Net cash paid for income taxes	$ 92	$ 29

Nature of Business and Basis of Presentation	9 Months Ended
Nature of Business and Basis of Presentation	Sep. 30, 2017
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 Nationstar Mortgage Holdings Inc., a Delaware corporation, including its consolidated subsidiaries (collectively, "Nationstar" or the "Company"), earns fees through the delivery of servicing, origination and transaction based services related primarily to single-family residences throughout the United States. Basis of Presentation The consolidated interim financial statements of Nationstar have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission ("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 Nationstar's Annual Report on Form 10-K for the year ended December 31, 2016. The interim consolidated financial statements are unaudited; however, in the opinion of management, all adjustments considered necessary for a fair presentation of the results of the interim periods have been included. Certain prior period amounts have been reclassified to conform to the current period presentation. Dollar amounts are reported in millions, except per share data and other key metrics, unless otherwise noted. Nationstar evaluated subsequent events through the date these interim consolidated financial statements were issued. The Company describes its significant accounting policies in Note 2 of the notes to the consolidated financial statements in its Annual Report on Form 10-K for the year ended December 31, 2016. During the nine months ended September 30, 2017, no significant changes were made to those accounting policies except that the Company updated its policy on advances and other receivables to include more detailed description of its position on write-offs of advance balances. Nationstar records reserves for advances and other receivables and evaluates the sufficiency of such reserves through consideration of both historical and expected recovery rates on claims filed with government agencies, government sponsored enterprises, vendors, prior servicers and other counterparties. Recovery of advances and other receivables is subject to significant judgment and estimates based on the Company’s assessment of its compliance with servicing guidelines, its ability to produce the necessary documentation to support claims, its ability to support amounts from prior servicers and to effectively negotiate settlements, as needed. Each period, management reviews recorded advances and other receivables and upon determination that no further recourse for recovery is available from all means known to management, the recorded balances associated with these receivables are written-off against the reserve. The Company periodically evaluates corporate allocation methods in order to appropriately align corporate costs with its business. Certain 2016 costs within salaries, wages and benefits and operational expenses were reclassified between segments to conform to current year allocation methods. Such reclassifications had no impact on previously reported net income or shareholders' equity. See Note 17, Business Segment Reporting for information on the changes in the Company's reportable segments. Basis of Consolidation The consolidated financial statements include the accounts of Nationstar, its wholly-owned subsidiaries, and other entities in which the Company has a controlling financial interest, and those variable interest entities ("VIE") where Nationstar is the primary beneficiary. Nationstar 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. Intercompany balances and transactions on consolidated entities have been eliminated. Assets and liabilities of VIEs and their respective results of operations are consolidated from the date that Nationstar became the primary beneficiary through the date Nationstar ceases to be the primary beneficiary. Recent Accounting Guidance Adopted Effective January 1, 2017, the Company prospectively adopted Accounting Standards Update No. 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting (ASU 2016-09), which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, calculation of earnings per share, classification of awards as either equity or liabilities, and classification of cash flows. Amendments related to accounting for excess tax benefits or deficiencies have been adopted prospectively, resulting in the recognition of $1 of excess tax deficiencies within income tax expense rather than additional paid in capital for the nine months ended September 30, 2017. The impact on diluted earnings per share is $0.01 per share for the period. Excess tax benefits or deficiencies related to share-based payments are now included in operating cash flows rather than financing cash flows. This change has been applied prospectively in accordance with ASU 2016-09 and prior periods have not been adjusted. The amendments allow for a one-time accounting policy election to either account for forfeitures as they occur or continue to estimate forfeitures as required by current guidance. The Company has elected to continue estimating forfeitures under the current guidance. Recent Accounting Guidance Not Yet Adopted Accounting Standards Update No. 2014-09, 2016-08, 2016-10, 2016-12 and 2016-20, collectively implemented as FASB Accounting Standards Codification Topic 606 ("ASC 606") Revenue from Contracts with Customers, provides guidance for revenue recognition. This ASC’s core principle requires a company to recognize revenue when it transfers promised goods or services to customers in an amount that reflects consideration to which the company expects to be entitled in exchange for those goods or services. The standard also clarifies the principal versus agent considerations, providing the evaluation must focus on whether the entity has control of the goods or services before they are transferred to the customer. The new standard permits the use of either the modified retrospective or full retrospective transition method. The Company's revenue is generated from loan servicing, loan originations, and services provided by Xome. Servicing revenue is comprised of servicing fees and other ancillary fees in connection with our servicing activities as well as fees earned under subservicing arrangements. Origination revenue is comprised of fee income earned at origination of a loan, interest income earned for the period the loans are held, and gain on sale on loans upon disposition of the loan. Xome's revenue is comprised of income earned from real estate exchange, real estate services and real estate technology and support. We have performed a preliminary review of the new guidance as compared to our current accounting policies and are currently evaluating all services rendered to our customers as well as underlying contracts to determine the impact of this standard to our revenue recognition process. The majority of services rendered by the Company in connection with originations and servicing are not within the scope of ASC 606. However, through our review, we have identified one service offering (Services and Software as a Service) under the Xome operating segment that is within the scope of ASC 606. Although revenue recognition may be impacted to some degree for this service offering, we do not anticipate the impact to be materially different from the current revenue recognition processes. Our implementation efforts to date include identification of revenue streams within the scope of the guidance, and we are in the process of reviewing revenue contracts to assess the impact at a customer level. The Company expects to adopt the standard in the first quarter of 2018 with a cumulative effect adjustment to opening retained earnings, as necessary. Accounting Standards Update No. 2016-02, Leases (ASU 2016-02), primarily impacts 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. The lease liability will be equal to the present value of all reasonably certain lease payments. The right-of-use asset will be based on the liability, subject to adjustment for initial direct costs. Lease agreements with terms 12 months or less are permitted to be excluded from the balance sheet. In general, leases will be amortized on a straight-line basis with the exception of finance lease agreements. ASU 2016-02 is effective for interim periods beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of this ASU on the consolidated financial statements and to its debt covenants and capitalization requirements. 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. Previously, when credit losses were measured under GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. ASU 2016-13 is effective for interim periods beginning after December 15, 2019. The Company is currently evaluating the potential impact of ASU 2016-13 on its consolidated financial statements. Accounting Standards Update No. 2016-15, Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15) and Accounting Standards Update No 2016-18 Statement of Cash Flows (Topic 230) Restricted Cash (ASU 2016-18) both relate to the Statement of Cash Flows (Topic 230) and are intended to provide specific guidance to reduce diversity in practice. ASU 2016-15 addresses the following eight cash flow classification issues: (1) debt prepayment or debt extinguishment costs, (2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, (3) contingent consideration payments made after a business combination, (4) proceeds from the settlement of life insurance claims, (5) proceeds from the settlement of corporate owned life insurance policies, including bank-owned life insurance policies, (6) distributions received from equity method investees, (7) beneficial interests in securitization transactions and (8) separately identifiable cash flows and application of the predominance principle. This ASU is effective for fiscal years beginning after December 15, 2017, and will require adoption on a retrospective basis. The Company is currently evaluating the impact of the application of ASU 2016-15 will have on the Company’s classification of cash flows. ASU 2016-18 addresses the classification and presentation of changes in restricted cash on the statement of cash flows. This new standard requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Entities will also be required to reconcile such total to amounts on the balance sheet and disclose the nature of the restrictions. ASU 2016-18 will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted. The Company is currently evaluating the potential impact of ASU 2016-18 on its consolidated financial statements. Accounting Standards Update No. 2017-04, Simplifying the Test for Goodwill Impairment, simplifies the accounting for goodwill impairment for all entities by requiring impairment charges to be based on the first step in today’s two-step impairment test under Accounting Standards Codification (ASC) 350. The standard has tiered effective dates, starting in 2020 for calendar-year public business entities that meet the definition of an SEC filer. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. The Company is currently evaluating the potential impact of ASU 2017-04 on our consolidated financial statements. ASU 2017-04 is effective for the Company for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. ASU 2017-04 will be adopted prospectively. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017.

Mortgage Servicing Rights ("MSRs") and Related Liabilities

9 Months Ended

Sep. 30, 2017

Transfers and Servicing [Abstract]

Mortgage Servicing Rights (MSRs) and Related Liabilities

2. Mortgage Servicing Rights ("MSRs") and Related Liabilities

The following table sets forth the carrying value of Nationstar's MSRs and the related liabilities.



MSRs and Related Liabilities	September 30, 2017		December 31, 2016
Forward MSRs - fair value	$	2,956	$	3,160
Reverse MSRs - amortized cost	5		6
Mortgage servicing rights	$	2,961	$	3,166

Mortgage servicing liabilities - amortized cost	$	53	$	48

Excess spread financing - fair value	$	1,046	$	1,214
Mortgage servicing rights financing liability - fair value	20		27
MSR related liabilities (nonrecourse)	$	1,066	$	1,241

Forward Mortgage Servicing Rights - Fair Value

The Company owns and records at fair value the rights to service traditional residential mortgage loans ("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. Forward MSRs are comprised of servicing rights related to both agency and non-agency loans.

The following table sets forth the activities of forward MSRs during the nine months ended September 30, 2017 and 2016.



	Nine months ended September 30,
Forward MSRs - Fair Value	2017			2016
Fair value - beginning of period	$	3,160		$	3,358
Additions:
Servicing retained from mortgage loans sold	151			142
Purchases of servicing rights	30			39
Dispositions:
Sales of servicing assets	(24		)	(24		)
Changes in fair value:
Changes in valuation inputs or assumptions used in the valuation model	(113		)	(494		)
Other changes in fair value	(248		)	(296		)
Fair value - end of period	$	2,956		$	2,725

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 given the continued involvement as the subservicer and concluded that these transactions qualify for sale accounting treatment. During the nine months ended September 30, 2017 the Company sold $2,920 in unpaid principal balance ("UPB") of forward MSRs, of which none was retained by the Company as subservicer. In August 2017, the Company entered into a special arrangement where the Company sold $26 MSRs and subsequently purchased back $8 MSRs. In connection with the transaction, the Company used the proceeds to pay down $9 excess spread financing liabilities. In addition, during the second quarter of 2017, the Company sold forward MSR with a negative balance of $2 associated with the cost to dispose of nonperforming loan portfolio. During the nine months ended September 30, 2016, $4,560 in UPB of forward MSRs was sold and the Company was retained as the subservicer for $3,507 UPB of the sold MSRs collateralized by assets.

MSRs measured at fair value are segregated between credit sensitive and interest sensitive pools. Interest sensitive pools are primarily impacted by changes in forecasted interest rates, which in turn impact voluntary prepayment speeds. Credit sensitive pools are primarily impacted by borrower performance under specified repayment terms, which most directly impacts involuntary prepayments and delinquency rates. The Company assesses whether acquired portfolios are more credit sensitive or interest sensitive in nature on the date of acquisition. 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. Once the determination for a pool is made on the date of acquisition, subsequent changes are not made.

Interest sensitive portfolios generally consist of lower delinquency, single-family conforming residential forward mortgage loans for agency investors. Credit sensitive portfolios generally consist of higher delinquency, single-family non-conforming residential forward mortgage loans serviced for agency and non-agency investors.

The following table provides a breakdown of credit and interest sensitive UPBs for Nationstar's forward owned MSRs.



Forward MSRs - Sensitivity Pools	September 30, 2017				December 31, 2016
	UPB		Fair Value		UPB		Fair Value
Credit sensitive	$	174,318	$	1,640	$	198,935	$	1,818
Interest sensitive	114,132		1,316		113,141		1,342
Total	$	288,450	$	2,956	$	312,076	$	3,160

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



Credit Sensitive	September 30, 2017		December 31, 2016
Discount rate	11.4	%	11.6	%
Total prepayment speeds	15.4	%	15.4	%
Expected weighted-average life	5.6 years		6.0 years

Interest Sensitive
Discount rate	9.2	%	9.3	%
Total prepayment speeds	11.3	%	10.7	%
Expected weighted-average life	6.5 years		6.8 years

The following table shows the hypothetical effect on the fair value of the forward MSRs fair value when applying certain unfavorable variations of key assumptions to these assets at September 30, 2017 and December 31, 2016.



	Discount Rate						Total Prepayment Speeds
Forward MSRs - Hypothetical Sensitivities	100 bps Adverse Change			200 bps Adverse Change			10% Adverse Change			20% Adverse Change
September 30, 2017
Mortgage servicing rights	$	(106	)	$	(205	)	$	(122	)	$	(235	)
December 31, 2016
Mortgage servicing rights	$	(114	)	$	(221	)	$	(117	)	$	(224	)

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.

Reverse Mortgage Servicing Rights and Liabilities - Amortized Cost

Nationstar owns the right to service certain Home Equity Conversion Mortgage ("HECM") reverse mortgage loans with an unpaid principal balance of $36,412 and $38,940 as of September 30, 2017 and December 31, 2016, respectively. The following table sets forth the activities of reverse MSRs and mortgage servicing liabilities ("MSLs") for the nine months ended September 30, 2017 and 2016. Management evaluates reverse MSRs and MSLs each reporting period for impairment. Based on management's assessment at September 30, 2017, no impairment was required to be recorded for reverse MSRs.



	Nine months ended September 30,
	2017						2016
	Assets			Liabilities			Assets			Liabilities
Reverse MSRs and Liabilities - Amortized Cost
Balance - beginning of period	$	6		$	48		$	9		$	25
Increase in MSL⁽¹⁾	—			6			—			—
Amortization/accretion	(1		)	(1		)	(2		)	(14		)
Balance - end of the period	$	5		$	53		$	7		$	11
Fair value - end of period	$	5		$	9		$	25		$	2

⁽¹⁾The Company executed an asset purchase agreement in December 2016 with a large financial institution, acquiring the servicing rights related to a $9,305 UPB reverse loan portfolio of HECM loans owned by a GSE. In connection with the acquisition, the Company recorded a $17 MSL reflecting the fair value associated with this reverse servicing portfolio on the date of acquisition. In September 2017, the Company executed another mortgage servicing rights purchase agreement to acquire servicing rights on a reverse mortgage portfolio of $747 UPB.

Excess Spread Financing - Fair Value

To finance the acquisition of certain forward MSRs on various forward loan pools ("Portfolios"), Nationstar has entered into sale and assignment agreements with a third-party associated with funds and accounts under management of BlackRock Financial Management Inc. ("BlackRock"), and with certain affiliated entities formed and managed by New Residential Investment Corp. ("New Residential"), which is managed by an affiliate of Fortress Investment Group LLC ("Fortress"). Nationstar sold to such entities the right to receive a specified percentage of the excess cash flow generated from the Portfolios after receipt of a fixed base servicing fee per loan. Servicing fees associated with traditional MSRs can be segregated into a contractually specified base fee component and an excess servicing fee. The base servicing fee, along with ancillary income, is designed to cover costs incurred to service the specified pool plus a reasonable profit margin. The remaining servicing fee is considered excess. Nationstar retains all the base servicing fee and ancillary revenues associated with servicing the Portfolios and retains a portion of the excess servicing fee. Nationstar continues to be the servicer of the Portfolios and provides all servicing and advancing functions.

Contemporaneous with the above, Nationstar has entered into refinanced loan obligations with New Residential and BlackRock. Should Nationstar refinance any loan in the Portfolios, subject to certain limitations, it 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 sale and assignment agreement described above, which is the primary driver of the recapture rate assumption.

The range of key assumptions used in Nationstar's valuation of excess spread financing are as follows.



Excess Spread Financing	Prepayment Speeds	Average Life (Years)	Discount Rate	Recapture Rate
September 30, 2017
Low	6.7%	4.3	8.5%	7.1%
High	21.1%	6.8	14.1%	30.0%
Weighted-average	13.9%	5.9	10.8%	18.8%
December 31, 2016
Low	6.1%	4.1	8.5%	6.7%
High	21.2%	8.5	14.1%	29.8%
Weighted-average	13.9%	6.3	10.8%	19.0%

The following table shows the hypothetical effect on the excess spread financing fair value when applying certain unfavorable variations of key assumptions to these liabilities at September 30, 2017 and December 31, 2016.



	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, 2017
Excess spread financing	$	39	$	81	$	36	$	75
December 31, 2016
Excess spread financing	$	49	$	101	$	41	$	85

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 MSRs 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 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.

Forward Mortgage Servicing Rights Financing

From December 2013 through June 2014, Nationstar entered into agreements to sell a contractually specified base fee component of certain forward MSRs and servicing advances under specified terms to a joint venture capitalized by New Residential and certain unaffiliated third-party investors. Nationstar continues to be the named servicer and, for accounting purposes, ownership of the mortgage servicing rights continues to reside with Nationstar. Accordingly, Nationstar records the MSRs and a MSR financing liability associated with this transaction in its consolidated balance sheets. See Note 19, Transactions with Affiliates for additional information.

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



Mortgage Servicing Rights Financing Assumptions	September 30, 2017		December 31, 2016
Advance financing rates	3.5	%	3.2	%
Annual advance recovery rates	23.3	%	23.9	%

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



	Three months ended September 30,						Nine months ended September 30,
Servicing Revenue	2017			2016			2017			2016
Contractually specified servicing fees⁽¹⁾	$	251		$	254		$	759		$	786
Other service-related income⁽¹⁾	44			67			142			214
Incentive and modification income⁽¹⁾	19			35			63			82
Late fees⁽¹⁾	22			20			67			57
Reverse servicing fees	16			11			43			46
Mark-to-market⁽²⁾	(48		)	(9		)	(176		)	(502		)
Counterparty revenue share⁽³⁾	(53		)	(75		)	(174		)	(223		)
Amortization, net of accretion⁽⁴⁾	(60		)	(92		)	(187		)	(235		)
Total servicing revenue	$	191		$	211		$	537		$	225

⁽¹⁾Amounts include subservicing related revenues.

⁽²⁾ Mark-to-market includes fair value adjustments on MSR, excess spread financing and MSR financing liabilities. The amount of MSR MTM reflected is net of cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans that are no longer part of the MSR portfolio and these incurred losses have been transferred to reserves on advances and other receivables. These cumulative incurred losses totaled $20 and $27 for the three months ended September 30, 2017 and 2016, respectively, and $69 and $85 for the nine months ended September 30, 2017 and 2016, respectively.

⁽³⁾ 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.

⁽⁴⁾ Accretion was $41 and $46 for the three months ended September 30, 2017 and 2016, respectively, and $123 and $149 for the nine months ended September 30, 2017 and 2016, respectively.

Advances and Other Receivables, Net

9 Months Ended

Sep. 30, 2017

Receivables [Abstract]

Advances and Other Receivables, Net

3. Advances and Other Receivables, Net

Advances and other receivables, net consists of the following.



	September 30, 2017			December 31, 2016
Servicing advances	$	1,489		$	1,614
Receivables from agencies, investors and prior servicers	389			319
Reserves	(253		)	(184		)
Total advances and other receivables, net	$	1,625		$	1,749

Nationstar 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 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 $139 and $94 for the Company's forward loan portfolio at September 30, 2017 and December 31, 2016, respectively.

The activity of the reserves for advances and other receivables is set forth below.



	Three months ended September 30,						Nine months ended September 30,
Advances and Other Receivables Reserves	2017			2016			2017			2016
Balance - beginning of period⁽¹⁾	$	236		$	238		$	184		$	163
Provision and other additions⁽²⁾	30			37			106			126
Write-offs	(13		)	(95		)	(37		)	(109		)
Balance - end of period	$	253		$	180		$	253		$	180

⁽¹⁾Beginning reserve balance as of January 1, 2016 was updated to reflect the reclassification of reserves for advances and other receivables from the MSR.

⁽²⁾ A provision of $20 and $27 was recorded through the MTM adjustment in service related revenues for the three months ended September 30, 2017 and 2016, respectively, and $69 and $85 for the nine months ended September 30, 2017 and 2016, respectively, for inactive and liquidated loans that are no longer part of the MSR portfolio. Other additions represent reclassifications of required reserves from other balance sheet accounts.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Reverse Mortgage Interests, Net

9 Months Ended

Sep. 30, 2017

Reverse Mortgage Interests [Abstract]

Reverse Mortgage Interests, Net

4. Reverse Mortgage Interests, Net

Reverse mortgage interests, net consist of the following.



	September 30, 2017			December 31, 2016
Participating interests in HMBS	$	7,573		$	8,839
Other interests securitized	985			753
Unsecuritized interests	1,829			1,572
Reserves	(88		)	(131		)
Total reverse mortgage interests, net	$	10,299		$	11,033

Participating interests in HMBS

Participating interests in HMBS consist of the Company's reverse mortgage interests in HECM loans which have been transferred to Ginnie Mae and subsequently securitized through the issuance of HMBS. During the nine months ended September 30, 2017, a total of $416 in UPB was transferred to Ginnie Mae and securitized. Also, during the nine months ended September 30, 2017, the Company repurchased $3,270 of HECM loans that reached 98% maximum claim amount which will be assigned to HUD or a third party.

Other interests securitized

Other interests securitized consist of reverse mortgage interests that no longer meet HMBS program eligibility criteria and have been repurchased out of HMBS; 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, 2017, a total of $747 UPB was securitized through Trust 2017-1 and Trust 2017-2 and $307 UPB was collapsed through Trust 2015-2 and Trust 2016-1. Refer to Other Nonrecourse Debt in Note 8, Indebtedness for additional information.

Unsecuritized interests

Unsecuritized interests in reverse mortgages consist of the following.



	September 30, 2017		December 31, 2016
Repurchased HECM loans	$	1,407	$	1,000
HECM related receivables	291		301
Funded borrower draws not yet securitized	113		236
Foreclosed assets	18		35
Total unsecuritized interests	$	1,829	$	1,572

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 maximum claim amount established at origination in accordance with HMBS program guidelines. The Company repurchased a total of $3,270 and $2,270 HECM loans out of Ginnie Mae HMBS securitizations during the nine months ended September 30, 2017 and 2016, respectively, of which $802 and $661 were subsequently assigned to a prior servicer in accordance with applicable servicing agreements, respectively.

The Company also 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. Receivables from prior servicers totaled $19 and $38 for the Company's reverse loan portfolio at September 30, 2017 and December 31, 2016, respectively.

Purchase of Reverse Mortgage Servicing Rights and Interests

On December 1, 2016, the Company executed an asset purchase agreement with a large financial institution, acquiring the servicing rights and participating interests in securitized HECM loans and related HMBS obligations. Refer to Note 2, Mortgage Servicing Rights and Related Liabilities for discussion of the servicing portfolio acquired. In addition to the servicing portfolio, the purchase agreement also included $3,840 UPB of Ginnie Mae participating interest in HECM loans and related HMBS obligations. During the three months ended September 30, 2017, the Company updated its initial relative fair value allocation resulting in the Company recording $3,749 reverse mortgage interests and the corresponding liabilities as nonrecourse debt of $3,691. Additionally, the Company recorded a purchase discount of $118 within unsecuritized interests as part of the relative fair value allocation, of which $22 has been accreted to interest income during the nine months ended September 30, 2017. The Company received cash of $96 for the acquisition of these assets and assumption of related liabilities.

As part of the December 2016 asset purchase agreement, the Company agreed to acquire remaining components of the reverse portfolio, primarily including servicing of whole HECM loans and REO advances upon receiving regulatory approval. In September 2017, the Company executed a mortgage servicing rights purchase agreement and a subservicing agreement to acquire servicing rights and subservicing on the remaining reverse portfolio in the amounts of $747 UPB and $505 UPB, respectively. Upon this acquisition the Company performed a relative fair value allocation, resulting in the Company recording $10 of REO advances related to the servicing portfolio acquired in HECM related receivables within reverse mortgage interests. The Company received net proceeds of $16 for the acquisition of these assets and assumption of related liabilities. Refer to Note 2, Mortgage Servicing Rights and Related Liabilities for discussion of the servicing portfolio acquired.

Reserves for Reverse Mortgage Interests

Nationstar 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 viewed as two different categories of expenses: financial and operational. Financial exposures are defined as the cost of doing business related to servicing the HECM product and include potential unrecoverable costs primarily based on HUD claim guidelines related to recoverable expenses and unfavorable changes in the appraised value of the loan collateral. Operational exposures are defined as unrecoverable debenture interest curtailments imposed for missed FHA-specified servicing timelines.

The activity of the reserves for reverse mortgage interests is set forth below.



	Three months ended September 30,						Nine months ended September 30,
	2017			2016			2017			2016
Reserves for reverse mortgage interests - beginning of period	$	149		$	71		$	131		$	53
Provision⁽¹⁾	22			28			44			43
Write-offs⁽²⁾	(29		)	(7		)	(33		)	(7		)
Other⁽³⁾	(54		)	1			(54		)	4
Reserves for reverse mortgage interests - end of period	$	88		$	93		$	88		$	93

⁽¹⁾During the three months ended September 30, 2017, reserves increased attributable to the Company refining its method to estimate losses from a pool-level view to a loan-level view based on characteristics of individual loans.

⁽²⁾ The write-offs in the three months ended September 30, 2017 were primarily attributable to transactions that were fully reserved and processed after conversion to the Company's new internally developed reverse servicing platform.

⁽³⁾ During the three months ended September 30, 2017, the Company reclassified certain amounts within reverse mortgage interests to be comparable to prior periods and also updated its initial estimate of the relative fair value allocation related to the servicing portfolio acquired in December 2016 and reclassified $61 from reserves to a purchase price discount. This amount is now included in the net basis of unsecuritized interest of reverse mortgage interests.

Reverse Interest Income

The Company accrues interest income for its participating interest in reverse mortgages based on the stated rates underlying HECM loans and FHA guidelines. Total interest earned on the Company's reverse mortgage interests was $135 and $81 for the three months ended September 30, 2017 and 2016, respectively, and $368 and $251 for the nine months ended September 30, 2017 and 2016, respectively.

Mortgage Loans Held for Sale and Investment

9 Months Ended

Sep. 30, 2017

Mortgage Loans Held for Sale and Investment [Abstract]

Mortgage Loans Held for Sale and Investment

5. Mortgage Loans Held for Sale and Investment

Mortgage Loans Held for Sale

Nationstar maintains a strategy of originating mortgage loan products primarily for the purpose of selling to government-sponsored enterprises ("GSEs") or other third-party investors in the secondary market on a servicing-retained basis. Nationstar focuses on assisting customers currently in the Company's servicing portfolio with refinancing of loans or new home purchases. 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.



	September 30, 2017		December 31, 2016
Mortgage loans held for sale – unpaid principal balance	$	1,592	$	1,759
Mark-to-market adjustment⁽¹⁾	54		29
Total mortgage loans held for sale	$	1,646	$	1,788

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

Nationstar 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 nonaccrual status was as follows for the dates indicated.



	September 30, 2017				December 31, 2016
Mortgage Loans Held for Sale - Unpaid Principal Balance	UPB		Fair Value		UPB		Fair Value
Non-accrual	$	81	$	78	$	106	$	103

From time to time, Nationstar exercises its right to repurchase individual delinquent loans in Ginnie Mae securitization pools to minimize interest spread losses, to re-pool into new Ginnie Mae securitizations, or to otherwise sell to third-party investors. During the nine months ended September 30, 2017 and 2016, Nationstar repurchased $236 and $201 of delinquent Ginnie Mae loans, respectively, and securitized or sold to third-party investors $253 and $88 of previously repurchased loans, respectively. As of September 30, 2017 and 2016, $59 and $18 of the repurchased loans have reperformed and were held in accrual status, respectively, and remaining balances continue to be held under a nonaccrual status.

The total UPB of mortgage loans held for sale for which the Company has begun formal foreclosure proceedings was $63 and $84 as of September 30, 2017 and December 31, 2016, respectively.

The following table details a roll forward of the change in the account balance of mortgage loans held for sale.



	Nine months ended September 30,
Mortgage loans held for sale	2017			2016
Balance - beginning of period	$	1,788		$	1,430
Mortgage loans originated and purchased, net of fees	13,988			14,977
Loans sold	(15,107		)	(15,743		)
Repurchase of loans out of Ginnie Mae securitizations	943			1,138
Transfer of mortgage loans held for sale to advances/accounts receivable related to claims⁽¹⁾	(16		)	(16		)
Net transfer of mortgage loans held for sale from REO in other assets⁽²⁾	20			9
Changes in fair value	16			14
Other purchase-related activities⁽³⁾	14			30
Balance - end of period	$	1,646		$	1,839

⁽¹⁾Amounts are comprised of claims made on certain government insured mortgage loans upon completion of the REO sale.

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

For the nine months ended September 30, 2017 and 2016, the Company received proceeds of $15,470 and $16,183, respectively, on the sale of mortgage loans held for sale, resulting in gains of $363 and $440, respectively.

Nationstar 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 solely 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. The amounts repurchased out of Ginnie Mae pools, as presented above, are primarily in connection with loan modifications and loan resolution activity as part of Nationstar's contractual obligations as the servicer of the loans.

Mortgage Loans Held for Investment, Net

The following sets forth the composition of mortgage loans held for investment, net.



	September 30, 2017			December 31, 2016
Mortgage loans held for investment, net – UPB	$	198		$	216
Transfer discount:
Non-accretable	(43		)	(52		)
Accretable	(12		)	(13		)
Total mortgage loans held for investment, net	$	143		$	151

The changes in accretable yield discount on loans transferred to mortgage loans held for investment are set forth below.



	Nine months ended September 30,
Accretable Yield Discount	2017			2016
Balance - beginning of the period	$	(13	)	$	(15	)
Accretion	2			2
Reclassifications from non-accretable discount	(1		)	(1		)
Balance - end of the period	$	(12	)	$	(14	)

Nationstar may periodically modify the terms of any outstanding mortgage loans held for investment for loans that are either in default or in imminent default. Modifications often involve reduced payments by borrowers, modification of the original terms of the mortgage loans, forgiveness of debt and/or modified servicing advances. As a result of the volume of modification agreements entered into, the estimated average outstanding life in this pool of mortgage loans has been extended. Nationstar records interest income on the transferred loans on a level-yield method. To maintain a level-yield on these transferred loans over the estimated extended life, Nationstar reclassified to accretable yield discount approximately $1 of transfer discount designated as reserves for future loss, for the nine months ended September 30, 2017. No provision for reserves was required for the nine months ended September 30, 2017 and 2016, respectively, as the fair value of the underlying collateral exceeded the carrying value of the loans, net of the non-accretable discount.

The total UPB of mortgage loans held for investment for which the Company has begun formal foreclosure proceedings was $22 and $29 as of September 30, 2017 and December 31, 2016, respectively.

Other Assets

9 Months Ended

Sep. 30, 2017

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

Other Assets

6. Other Assets

Other assets consist of the following.



	September 30, 2017		December 31, 2016
Accrued revenues	$	152	$	165
Loans subject to repurchase right from Ginnie Mae	143		152
Goodwill	72		74
Prepaid expenses	28		16
Deposits	22		25
Real estate owned (REO), net	21		30
Intangible assets	20		28
Receivables from affiliates, net	6		6
Other	83		64
Total other assets	$	547	$	560

Accrued revenues

Accrued revenue is primarily comprised of service fees earned but not received based upon the terms of the Company's servicing and subservicing agreements.

Goodwill and intangible assets

In connection with the sale of Xome's retail title division, the Company wrote off $2 goodwill and $4 intangible assets in June 2017. See further discussion in Note 16, Dispositions and Exit Costs.

Loans subject to repurchase right from Ginnie Mae

Forward loans are sold to Ginnie Mae in conjunction with the issuance of mortgage backed securities. Nationstar, 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 Nationstar 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 Nationstar’s intention to repurchase the loan.

Real estate owned

Real estate owned ("REO") includes $14 and $21 of REO loans with government insurance at September 30, 2017 and December 31, 2016, respectively.

Other

Other primarily includes non-advance related accounts receivable due from investors.

Derivative Financial Instruments

9 Months Ended

Sep. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

7. Derivative Financial Instruments

Derivative instruments utilized by Nationstar primarily include interest rate lock commitments ("IRLCs"), Loan Purchase Commitments ("LPCs"), forward Mortgage Backed Securities ("MBS") trades, Eurodollar and Treasury futures, interest rate swap agreements and interest rate caps.

Associated with the Company's derivatives are $4 and $29 in collateral deposits on derivative instruments recorded in other assets and payables and accrued liabilities on the Company's balance sheets as of September 30, 2017 and December 31, 2016, respectively. The Company does not offset fair value amounts recognized for derivative instruments with amounts collected and/or deposited on derivative instruments in its consolidated balance sheets.

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



	Expiration Dates	Outstanding Notional		Fair Value		Recorded Gains / (Losses)
Nine months ended September 30, 2017
Assets
Mortgage loans held for sale, net
Loan sale commitments⁽¹⁾	2017	$	1	$	0.1	$	—
Derivative financial instruments
IRLCs	2017	2,531		68.7		(23.5		)
Forward sales of MBS	2017	2,524		4.7		(34.5		)
LPCs	2017	132		1.0		(0.9		)
Treasury futures	2017	255		2.0		2.0
Eurodollar futures⁽¹⁾	2017-2021	11		—		—
Interest rate swaps⁽¹⁾	2017	—		—		(0.1		)
Liabilities
Derivative financial instruments
IRLCs⁽¹⁾	2017	7		—		1.1
Forward sales of MBS	2017	1,137		3.2		6.8
LPCs	2017	335		1.2		0.3
Treasury futures	2017	479		2.0		(2.0		)
Eurodollar futures⁽¹⁾	2017-2021	45		—		—
Interest rate swaps⁽¹⁾	2017	—		—		0.1

Year ended December 31, 2016
Assets
Mortgage loans held for sale
Loan sale commitments	2017	$	1	$	0.1	$	(0.2	)
Derivative financial instruments
IRLCs	2017	3,675		92.2		3.1
Forward sales of MBS	2017	2,580		39.2		33.1
LPCs	2017	203		1.9		(2.0		)
Eurodollar futures⁽¹⁾	2017-2021	35		—		(0.1		)
Interest rate swaps	2017	9		0.1		(0.4		)
Liabilities
Derivative financial instruments
IRLCs	2017	176		1.1		(1.1		)
Forward sales of MBS	2017	1,689		10.0		(6.3		)
LPCs⁽¹⁾	2017	111		1.5		—
Eurodollar futures⁽¹⁾	2017-2021	27		—		0.1
Interest rate swaps	2017	9		0.1		0.4

⁽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, 2017

Debt Disclosure [Abstract]

Indebtedness

8. Indebtedness

Notes Payable



						September 30, 2017					December 31, 2016
Advance Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding			Collateral Pledged		Outstanding			Collateral pledged
Nationstar agency advance receivables trust	LIBOR+2.0% to 2.6%	November 2017⁽¹⁾	Servicing advance receivables	$	650	$	440		$	503	$	485		$	578
Nationstar mortgage advance receivable trust	LIBOR+1.4% to 6.5%	November 2018	Servicing advance receivables	500		163			286		260			301
Nationstar agency advance financing facility	LIBOR+1.0% to 7.4%	January 2018	Servicing advance receivables	200		101			145		164			186
MBS servicer advance facility (2014)	LIBOR+3.5%	October 2018	Servicing advance receivables	125		38			131		88			142
MBS advance financing facility	LIBOR+2.5%	March 2018	Servicing advance receivables	80		56			56		55			60
MBS advance financing facility (2012)⁽²⁾	LIBOR+5.0%	January 2017	Servicing advance receivables	—		—			—		44			52
Advance facilities principal amount						798			1,121		1,096			1,319
Unamortized debt issuance costs						(1		)	—		—			—
Advance facilities, net						$	797		$	1,121	$	1,096		$	1,319

						September 30, 2017					December 31, 2016
Warehouse Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding			Collateral Pledged		Outstanding			Collateral pledged
$1,200 warehouse facility	LIBOR+2.0% to 2.9%	October 2018	Mortgage loans or MBS	$	1,200	$	719		$	762	$	682		$	747
$1,000 warehouse facility	LIBOR+2.1% to 2.4%	September 2018	Mortgage loans or MBS	1,000		317			325		250			256
$750 warehouse facility	LIBOR+2.0% to 2.8%	November 2017⁽¹⁾	Mortgage loans or MBS	750		514			555		410			415
$500 warehouse facility	LIBOR+1.8% to 2.8%	September 2018	Mortgage loans or MBS	500		221			226		229			237
$500 warehouse facility	LIBOR+1.8% to 3.3%	June 2018	Mortgage loans or MBS	500		384			417		496			539
$350 warehouse facility	LIBOR+2.5% to 2.8%	April 2018	Mortgage loans or MBS	350		186			202		12			13
$450 warehouse facility	LIBOR+2.5% to 2.6%	November 2017⁽¹⁾	Mortgage loans or MBS	450		281			292		173			189
$300 warehouse facility	LIBOR+2.3%	January 2018	Mortgage loans or MBS	300		127			152		153			180
$200 warehouse facility	LIBOR+1.5%	April 2019	Mortgage loans or MBS	200		22			23		7			8
$40 warehouse facility	LIBOR+3.0%	December 2017	Mortgage loans or MBS	40		4			6		11			18
Warehouse facilities principal amount						2,775			2,960		2,423			2,602
Unamortized debt issuance costs						(1		)	—		(2		)	—
Warehouse facilities, net						$	2,774		$	2,960	$	2,421		$	2,602

Pledged Collateral:
Mortgage loans, net						$	1,602		$	1,692	$	1,693		$	1,427
Reverse mortgage interests, net						1,173			1,268		730			834
MSR and other collateral						—			—		—			341

⁽¹⁾This facility has not matured as of the date this report is filed.
⁽²⁾This MBS Advance Financing facility was paid off in full in February 2017.

The Company entered into two new warehouse facility agreements in the third quarter of 2017 with a total capacity amount of $200. As of September 30, 2017, the Company has not borrowed or pledged any collateral against these facilities.

Unsecured Senior Notes

A summary of the balances of unsecured senior notes is presented below.



	September 30, 2017			December 31, 2016
$600 face value, 6.500% interest rate payable semi-annually, due July 2021	$	594		$	595
$400 face value, 7.875% interest rate payable semi-annually, due October 2020	397			400
$475 face value, 6.500% interest rate payable semi-annually, due August 2018	364			461
$375 face value, 9.625% interest rate payable semi-annually, due May 2019	324			345
$300 face value, 6.500% interest rate payable semi-annually, due June 2022	206			206
Unsecured senior notes principal amount	1,885			2,007
Unamortized debt issuance costs	(12		)	(17		)
Unsecured senior notes, net	$	1,873		$	1,990

Nationstar repurchased $26 and $120 in principal amount of outstanding notes during the three and nine months ended September 30, 2017 resulting in a loss of $1 and $3, respectively. Nationstar also repurchased $4 and $29 in principal amount of outstanding notes during the three and nine months ended September 30, 2016.

The indentures for the unsecured senior notes contain various covenants and restrictions that limit the ability to incur additional indebtedness, pay dividends, make certain investments, create liens, consolidate, merge or sell substantially all of 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 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 Nationstar 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 and additional interest, if any, to the redemption dates. In addition, Nationstar 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 and additional interest, if any, to the redemption dates.

Additionally, the indentures provide that on or before certain fixed dates, Nationstar may redeem 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 and additional interest, if any, to the redemption dates, subject to compliance with certain conditions.

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.

As of September 30, 2017, the expected maturities of Nationstar's unsecured senior notes based on contractual maturities are as follows.



Year ending December 31,	Amount
2017	$	—
2018	364
2019	324
2020	397
2021	594
Thereafter	206
Unsecured senior notes principal amount	1,885
Unamortized debt issuance costs	(12		)
Unsecured senior notes, net	$	1,873

Other Nonrecourse Debt

A summary of the balances of other nonrecourse debt is presented below.



						September 30, 2017			December 31, 2016
	Issue Date	Maturity Date	Class of Note	Securitized Amount		Outstanding			Outstanding
Participating Interest Financing⁽¹⁾	—	—	—	$	—	$	7,640		$	8,914
Securitization of nonperforming HECM loans
Trust 2015-2	November 2015	November 2025	A, M1, M2	—		—			114
Trust 2016-1	March 2016	February 2026	A, M1, M2	—		—			194
Trust 2016-2	June 2016	June 2026	A, M1, M2	132		105			158
Trust 2016-3	August 2016	August 2026	A, M1, M2	183		153			208
Trust 2017-1	May 2017	May 2027	A, M1, M2	268		240			—
Trust 2017-2	September 2017	September 2027	A, M1, M2	399		399			—
Nonrecourse debt - legacy assets	November 2009	October 2039	A	133		39			50
Other nonrecourse debt principal amount						8,576			9,638
Unamortized debt issuance costs						(7		)	(7		)
Other nonrecourse debt, net						$	8,569		$	9,631

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

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 advances and accrued 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 1.5% to 7.0%.

Securitizations of Nonperforming HECM Loans

From time to time, Nationstar securitizes its interests in non-performing reverse mortgages. The transactions provide investors with the ability to invest in a pool of non-performing HECM loans that are covered by FHA insurance and secured by one-to-four-family residential properties and a pool of REO properties acquired through foreclosure or grant of a deed in lieu of foreclosure in connection with reverse mortgage loans that are covered by FHA insurance. The transactions provide Nationstar 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 2.0% to 6.5% 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 three 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, Nationstar completed the securitization of approximately $222 of Asset-Backed Securities ("ABS"), which was accounted for as a secured borrowing. This structure resulted in Nationstar 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 total outstanding principal balance on the underlying mortgage loans serving as collateral for the debt was approximately $186 and $208 at September 30, 2017 and December 31, 2016, respectively. The carrying values on the outstanding loans was $45 and $58 at September 30, 2017 and December 31, 2016, respectively, and the carrying value of the nonrecourse debt was $39 and $50, respectively.

Financial Covenants

The Company's borrowing arrangements and credit facilities contain various financial covenants which primarily relate to required tangible net worth amounts, liquidity reserves, leverage requirements, and profitability requirements. As of September 30, 2017, the Company is in compliance with its financial covenants.

Nationstar is required to maintain a minimum tangible net worth of at least $682 as of each quarter-end related to its outstanding Master Repurchase Agreements on its outstanding repurchase facilities. As of September 30, 2017, the Company is in compliance with these minimum tangible net worth requirements.

Payables and Accrued Liabilities

9 Months Ended

Sep. 30, 2017

Payables and Accruals [Abstract]

Payables and Accrued Liabilities

9. Payables and Accrued Liabilities

Payables and accrued liabilities consist of the following.



	September 30, 2017		December 31, 2016
Payables to servicing and subservicing investors	$	572	$	655
Loans subject to repurchase from Ginnie Mae	143		152
Accounts payable and other accrued liabilities	89		178
Accrued bonus and payroll	78		95
Accrued interest	64		65
Payable to insurance carriers and insurance cancellation reserves	60		73
Professional and legal	54		47
Payable to GSEs and securitized trusts	53		58
Lease obligations	28		24
Taxes	21		84
Repurchase reserves	15		18
MSR purchases payable including advances	11		21
Total payables and accrued liabilities	$	1,188	$	1,470

Payables to servicing and subservicing investors and Payables to GSEs and securitized trusts

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

Loans subject to repurchase from Ginnie Mae

See Note 6, Other Assets for a description of assets and liabilities related to loans subject to repurchase from Ginnie Mae.

Accounts payables and other accrued liabilities

Other payables are primarily comprised of liabilities related to various vendor and servicing activities.

Payables to insurance carriers and insurance cancellation reserves

Payable 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.

Repurchase reserves

The activity of the outstanding repurchase reserves is set forth below.



	Three months ended September 30,						Nine months ended September 30,
Repurchase Reserves	2017			2016			2017			2016
Balance - beginning of period	$	14		$	26		$	18		$	26
Provision, net of release	2			—			(1		)	1
Charge-offs	(1		)	(1		)	(2		)	(2		)
Balance - end of period	$	15		$	25		$	15		$	25

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 Nationstar 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, such as the manner of origination, the nature and extent of underwriting standards.

In the event of a breach of the representations and warranties, Nationstar 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 we 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. Nationstar records 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 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 mortgage loan crisis period prior to 2008. The Company believes its reserve balances as of September 30, 2017 are sufficient to cover future loss exposure associated with repurchase contingencies.

Securitizations and Financings

9 Months Ended

Sep. 30, 2017

Variable Interest Entities and Securitizations [Abstract]

Securitizations and Financings

10. Securitizations and Financings

Variable Interest Entities (VIE)

In the normal course of business, Nationstar enters into various types of on- and off-balance sheet transactions with special purpose entities ("SPE") 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 Nationstar transfers assets to an SPE, which then issues to investors various forms of debt obligations supported by those assets.

Nationstar has determined that the SPEs created in connection with the (i) Nationstar Home Equity Loan Trust 2009-A, (ii) Nationstar Mortgage Advance Receivables Trust (NMART), (iii) Nationstar Agency Advance Financing Trust (NAAFT) and (iv) Nationstar Advance Agency Receivables Trust (NAART) should be consolidated as Nationstar is the primary beneficiary of each of these entities. Also, Nationstar 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 Nationstar’s transactions with VIEs included in the Company’s consolidated financial statements is presented below for the dates indicated.



	September 30, 2017				December 31, 2016
	Transfers Accounted for as Secured Borrowings		Reverse Secured Borrowings		Transfers Accounted for as Secured Borrowings		Reverse Secured Borrowings
Assets
Restricted cash	$	121	$	25	$	190	$	37
Reverse mortgage interests, net	—		8,515		—		9,557
Advances and other receivables, net	934		—		1,065		—
Mortgage loans held for investment, net	142		—		150		—
Other assets	2		—		4		—
Total assets	$	1,199	$	8,540	$	1,409	$	9,594
Liabilities
Advance facilities⁽¹⁾	$	704	$	—	$	909	$	—
Payables and accrued liabilities	1		—		1		—
Participating interest financing⁽²⁾	—		7,573		—		8,840
HECM Securitizations (HMBS)
Trust 2015-2	—		—		—		114
Trust 2016-1	—		—		—		194
Trust 2016-2	—		105		—		158
Trust 2016-3	—		153		—		208
Trust 2017-1	—		240		—		—
Trust 2017-2	—		399		—		—
Nonrecourse debt–legacy assets	39		—		50		—
Total liabilities	$	744	$	8,470	$	960	$	9,514

⁽¹⁾Advance facilities 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 8, Indebtedness for additional information.

⁽²⁾Participating interest financing excludes premiums.

A summary of the outstanding collateral and certificate balances for securitization trusts for which Nationstar was the transferor, including any retained beneficial interests and MSRs, that were not consolidated by Nationstar for the dates indicated as follows.



	September 30, 2017		December 31, 2016
Total collateral balances	$	2,373	$	2,704
Total certificate balances	$	2,214	$	2,455

Nationstar has not retained any variable interests in the unconsolidated securitization trusts that were outstanding as of September 30, 2017, and December 31, 2016, and therefore does not have a significant maximum exposure to loss related to these unconsolidated VIEs.

A summary of mortgage loans transferred by Nationstar to unconsolidated securitization trusts that are 60 days or more past due and the credit losses incurred in the unconsolidated securitization trusts are presented below:



Principal Amount of Loans 60 Days or More Past Due	September 30, 2017		December 31, 2016
Unconsolidated securitization trusts	$	430	$	548

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2017
Equity [Abstract]
Stockholders' Equity	11. Stockholders' Equity Nationstar's Board of Directors approved the repurchase of up to $100 of the Company's common stock from January 1, 2017 through December 31, 2017. No shares were repurchased during the nine months ended September 30, 2017. During the three and nine months ended September 30, 2017, certain employees of Nationstar were granted 3 thousand and 1,062 thousand restricted stock units ("RSUs"), respectively. The RSUs 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 us during that time or (ii) the participant's employment has terminated by reason of retirement. In addition, upon death, disability or a change in control of the Company, the unvested shares of an award will vest. The ultimate value of the award, however, depends on the market value of Nationstar common stock on the vesting date. The Company recognized $4 and $6 of expense related to the share-based awards during the three months ended September 30, 2017 and 2016, respectively, and $13 and $18 for the nine months ended September 30, 2017 and 2016, respectively.

Income Taxes

9 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Income Taxes

12. Income Taxes

The components of income tax expense (benefit) on continuing operations were as follows.



	Three months ended September 30,						Nine months ended September 30,
	2017			2016			2017			2016
Income tax expense (benefit)	$	5		$	29		$	(4	)	$	(106	)

Effective tax rate	37.1		%	40.6		%	29.1		%	36.8		%

For the three and nine months ended September 30, 2017, the effective tax rate differed from the statutory federal rate of 35% due to recurring items, such as state tax benefit offset by excess tax deficiency related to restricted share-based compensation recognized within income rather than shareholder’s equity under ASU 2016-09. In the second quarter of 2017, we recognized approximately $4 of tax expense as a discrete item in connection with the sale of Xome's retail title division.

For the three and nine months ended September 30, 2016, the effective tax rate differed from the statutory federal rate of 35% primarily due to the elimination of the book loss of a less-than-wholly-owned subsidiary, state taxes and certain other permanent differences. The relative impact of these permanent differences on the effective tax rate was based upon forecasted income or loss before tax for the year.

Fair Value Measurements

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

13. 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 Nationstar 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) – Nationstar originates mortgage loans in the U.S. that it intends to sell into Fannie Mae, Freddie Mac, and Ginnie Mae MBS (collectively, the "Agencies"). Additionally, Nationstar holds mortgage loans that it intends to sell into the secondary markets via whole loan sales or securitizations. Nationstar 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, Nationstar 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. Nationstar classifies these valuations as Level 2 in the fair value disclosures.

Nationstar may also purchase loans out of a Ginnie Mae securitization pool if that loan meets certain criteria, including being delinquent greater than 90 days. Nationstar has elected to carry these loans at fair value. See Note 5, Mortgage Loan Held for Sale and Investment for more information.

Mortgage Loans Held for Investment, Net (Level 3) – Nationstar determines the fair value of loans held for investment based on the expected future cash flows discounted over the expected life of the loans at a rate commensurate with the risk of the estimated cash flows. Significant assumptions include expected prepayment speeds and discount rates. These internal inputs require the use of judgment by Nationstar 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, Nationstar classifies these valuations as Level 3 in the fair value disclosures. See Note 5, Mortgage Loan Held for Sale and Investment for more information.

Mortgage Servicing Rights – Fair Value (Level 3) – Nationstar 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, discount rates, ancillary revenues and costs to service. 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 Nationstar 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, Nationstar classifies these valuations as Level 3 in the fair value disclosures. See Note 2, Mortgage Servicing Rights and Related Liabilities for more information.

Advances and Other Receivables, Net (Level 3) - Advances and other receivables 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.

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. Fair value for active reverse mortgage loans is estimated based on pricing of recent securitizations with similar attributes and characteristics, such as collateral values and prepayment speeds and adjusted as necessary for differences. The recent timing of these transactions allows the pricing to consider the current interest rate risk exposures. The fair value of inactive reverse mortgage loans is established based upon a discounted par value of the loan derived from the Company’s historical loss factors experienced on foreclosed loans.

Derivative Financial Instruments (Level 2) – Nationstar 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 balance sheet. The majority of these derivatives are exchange-traded or traded within highly active dealer markets. In order to determine the fair value of these instruments, Nationstar utilizes the exchange price or dealer market price for the particular derivative contract; therefore, these contracts are classified as Level 2. In addition, Nationstar 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. Nationstar 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. Nationstar 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. See Note 7, 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 8, 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 8, Indebtedness for more information.

Nonrecourse Debt – Legacy Assets (Level 3) – Nationstar 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 8, Indebtedness for more information.

Excess Spread Financing (Level 3) – Nationstar 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, Nationstar classifies these valuations as Level 3 in the fair value disclosures. See Note 2, Mortgage Servicing Rights and Related Liabilities for more information.

Mortgage Servicing Rights Financing Liability (Level 3) - Nationstar 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, annual advance recovery rates and working capital. As these assumptions are derived from internally developed valuation models based on the value of the underlying MSRs, Nationstar classifies these valuations as Level 3 in the fair value disclosures. See Note 2, Mortgage Servicing Rights and Related Liabilities for more information.

Participating Interest Financing (Level 2) – Nationstar estimates the fair value using a market approach by utilizing the fair value of securities backed by similar participating interests in reverse mortgage loans. Nationstar classifies these valuations as Level 2 in the fair value disclosures. See Note 2, Mortgage Servicing Rights and Related Liabilities, and Note 8, Indebtedness for more information.

HECM Securitizations (Level 3) – Nationstar estimates fair value of the nonrecourse debt related to HECM securitization 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, Nationstar classifies this as Level 3 in the fair value disclosures. See Note 8, Indebtedness for more information.

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



	September 30, 2017
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans held for sale⁽¹⁾	$	1,645.7	$	—	$	1,645.7	$	—
Mortgage servicing rights⁽¹⁾	2,956.1		—		—		2,956.1
Derivative financial instruments
IRLCs	68.7		—		68.7		—
Forward MBS trades	4.7		—		4.7		—
LPCs	1.0		—		1.0		—
Treasury futures	2.0		—		2.0		—
Total assets	$	4,678.2	$	—	$	1,722.1	$	2,956.1
Liabilities
Derivative financial instruments
Forward MBS trades	$	3.2	$	—	$	3.2	$	—
LPCs	1.2		—		1.2		—
Treasury futures	2.0		—		2.0		—
Mortgage servicing rights financing	20.5		—		—		20.5
Excess spread financing	1,045.6		—		—		1,045.6
Total liabilities	$	1,072.5	$	—	$	6.4	$	1,066.1



	December 31, 2016
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans held for sale⁽¹⁾	$	1,788.0	$	—	$	1,788.0	$	—
Mortgage servicing rights⁽¹⁾	3,160.0		—		—		3,160.0
Derivative financial instruments
IRLCs	92.2		—		92.2		—
Forward MBS trades	39.2		—		39.2		—
LPCs	1.9		—		1.9		—
Interest rate swaps and caps	0.1		—		0.1		—
Total assets	$	5,081.4	$	—	$	1,921.4	$	3,160.0
Liabilities
Derivative financial instruments
IRLCs	$	1.1	$	—	$	1.1	$	—
Forward MBS trades	10.0		—		10.0		—
LPCs	1.5		—		1.5		—
Interest rate swaps and caps	0.1		—		0.1		—
Mortgage servicing rights financing	27.0		—		—		27.0
Excess spread financing	1,214.0		—		—		1,214.0
Total liabilities	$	1,253.7	$	—	$	12.7	$	1,241.0

⁽¹⁾Based on the nature and risks of the underlying assets and liabilities, the fair value is presented for the aggregate account.

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



	Assets			Liabilities
	Mortgage servicing rights			Excess spread financing			Mortgage servicing rights financing
Nine months ended September 30, 2017
Balance - beginning of period	$	3,160		$	1,214		$	27
Total gains or losses included in earnings	(361		)	—			(7		)
Purchases, issuances, sales and settlements:
Purchases	30			—			—
Issuances	151			—			—
Sales	(24		)	—			—
Settlements	—			(168		)	—
Balance - end of period	$	2,956		$	1,046		$	20



	Assets			Liabilities
	Mortgage servicing rights			Excess spread financing			Mortgage servicing rights financing
Year ended December 31, 2016
Balance - beginning of period	$	3,358		$	1,232		$	69
Total gains or losses included in earnings	(496		)	25			(42		)
Purchases, issuances, sales and settlements:
Purchases	157			—			—
Issuances	208			155			—
Sales	(67		)	—			—
Settlements	—			(198		)	—
Balance - end of period	$	3,160		$	1,214		$	27

No transfers were made into or out of Level 3 fair value assets and liabilities for the nine months ended September 30, 2017 or the year ended December 31, 2016, respectively.

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



	September 30, 2017
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	224	$	224	$	—	$	—
Restricted cash	356		356		—		—
Advances and other receivables, net	1,625		—		—		1,625
Reverse mortgage interests, net	10,299		—		—		10,539
Mortgage loans held for sale	1,646		—		1,646		—
Mortgage loans held for investment, net	143		—		—		143
Derivative financial instruments	76		—		76		—
Financial liabilities
Unsecured senior notes	1,885		1,920		—		—
Advance facilities	798		—		798		—
Warehouse facilities	2,775		—		2,775		—
Mortgage servicing rights financing liability	20		—		—		20
Derivative financial instruments	7		—		7		—
Excess spread financing	1,046		—		—		1,046
Participating interest financing	7,640		—		7,840		—
HECM Securitization (HMBS)
Trust 2016-2	105		—		—		121
Trust 2016-3	153		—		—		170
Trust 2017-1	240		—		—		252
Trust 2017-2	399		—		—		400
Nonrecourse debt - legacy assets	39		—		—		38
	December 31, 2016
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	489	$	489	$	—	$	—
Restricted cash	388		388		—		—
Advances and other receivables, net	1,749		—		—		1,749
Reverse mortgage interests, net	11,033		—		—		11,232
Mortgage loans held for sale	1,788		—		1,788		—
Mortgage loans held for investment, net	151		—		—		153
Derivative financial instruments	133		—		133		—
Financial liabilities
Unsecured senior notes	2,007		2,047		—		—
Advance facilities	1,096		—		1,096		—
Warehouse facilities	2,423		—		2,423		—
Mortgage servicing rights financing liability	27		—		—		27
Excess spread financing	1,214		—		—		1,214
Derivative financial instruments	13		—		13		—
Participating interest financing	8,914		—		9,151		—
HECM Securitization (HMBS)
Trust 2015-2	114		—		—		125
Trust 2016-1	194		—		—		203
Trust 2016-2	158		—		—		156
Trust 2016-3	208		—		—		205
Nonrecourse debt - legacy assets	50		—		—		50

- 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, 2017
Mortgage Banking [Abstract]
Capital Requirements	14. Capital Requirements Certain Nationstar 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, Nationstar's secondary market investors may utilize a range of remedies ranging from sanctions, suspension or ultimately termination of Nationstar's selling and servicing agreements, which would prohibit Nationstar from further originating or securitizing these specific types of mortgage loans or being an approved servicer. Among Nationstar's various capital requirements related to its outstanding selling and servicing agreements, the most restrictive of these requires Nationstar to maintain a minimum adjusted net worth balance of $1,000. As of September 30, 2017, Nationstar 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, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies Litigation and Regulatory Matters Nationstar and its subsidiaries are routinely and currently involved in a significant number of legal proceedings concerning matters that arise in the ordinary course of business. The legal proceedings are at varying stages of adjudication, arbitration or investigation. These actions and proceedings 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, 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 our 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 our 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. Nationstar’s business is also subject to extensive examinations, investigations and reviews by various federal, state and local regulatory and enforcement agencies. Nationstar has historically had a number of open investigations with various regulators or enforcement agencies. We have experienced an increase in regulatory and governmental investigations, subpoenas, examinations and other inquiries. Nationstar is currently the subject of various regulatory or governmental 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 U.S. Department of Housing and Urban Development, the multistate coalition of mortgage banking regulators, various State Attorneys General, the New York Department of Financial Services, and the California Department of Business Oversight. 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 our business practices, and in additional expenses and collateral costs. Responding to these matters requires Nationstar to devote substantial legal and regulatory resources, resulting in higher costs and lower net cash flows. For example, Nationstar continues to progress towards resolution of certain legacy regulatory matters involving regulatory examination findings for alleged violations of certain laws related to our business practices. In March 2017, Nationstar entered into a consent order with the CFPB for failure to comply with certain data reporting requirements of the Home Mortgage Disclosure Act. Additionally, Nationstar is currently in negotiations with the California Department of Business Oversight to resolve two examinations, one of which dates to 2012. The Company is also in negotiations with the New York Department of Financial Services regarding two examinations. In both instances, the resolution will involve the payment of civil monetary penalties and other remedial measures. However, management does not believe that resolution of either of these matters would have a material effect on the Company’s results of operations or financial position. In addition, Nationstar is a defendant in a class action proceeding originally filed in state court in March 2012, and then removed to the United States District Court for the Eastern District of Washington under the caption Laura Zamora Jordan v. Nationstar Mortgage LLC. The suit was filed on behalf of a class of Washington borrowers and challenges property preservation measures we took, as loan servicer, after the borrowers defaulted and our vendors determined that the borrowers had vacated or abandoned their properties. The case raises claims for (i) common law trespass, (ii) statutory trespass, and (iii) violation of Washington’s Consumer Protection Act, and seeks recovery of actual, statutory, and treble damages, as well as attorneys’ fees and litigation costs. The Company believes that is has meritorious defenses and will continue to vigorously defend itself in this matter. An adverse judgment in this matter could have a material adverse effect on the Company’s results of operations or financial position. However, if Nationstar receives a final adverse judgment, it intends to seek reimbursement from the owners of the loans it serviced, but there can be no assurance that the Company would prevail with any claims for reimbursement. The Company seeks to resolve all claims, demands, litigation and regulatory and governmental 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 litigation or regulatory 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 litigation 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. Litigation related expense, which includes legal settlements and the fees paid to external legal service providers, of $10 and $29 for the three and nine months ended September 30, 2017, respectively, and $16 and $49 for the three and nine months ended September 30, 2016, 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 litigation and regulatory 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 $23 to $62 in excess of the accrued liability (if any) related to those matters as of September 30, 2017. 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, our exposure and ultimate losses may be higher, possibly significantly so, than the amounts accrued or this aggregate amount. In our 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; we have 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 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 us to estimate losses or ranges of losses that it is reasonably possible we 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 recorded balances sought from sellers represent valid claims. However, the Company acknowledges that the claims process can be a 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, 2017, 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 at this time. Loan and Other Commitments Nationstar 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. Nationstar also enters into LPCs with prospective sellers. These loan commitments are treated as derivatives and are carried at fair value. See Note 7, Derivative Financial Instruments for more information. Nationstar has certain reverse MSRs and reverse mortgage loans related to approximately $35,906 and $38,940 of UPB in reverse mortgage loans as of September 30, 2017 and December 31, 2016, respectively. As 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, 2017 and December 31, 2016, the Company’s maximum unfunded advance obligation to fund borrower draws related to these MSRs and loans was approximately $3,921 and $4,396, 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.

Disposition and Exit Costs	9 Months Ended
Disposition and Exit Costs	Sep. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]
Disposition and Exit Costs	16. Disposition and Exit Costs Nationstar periodically initiates programs to reduce costs and improve operating effectiveness in order to improve current operating performance and to respond to changes in the Company's business model. These cost reduction initiatives include the restructuring of our facilities lease portfolio, closing of offices and the termination of portions of Nationstar’s workforce. As part of these restructuring plans, Nationstar has incurred severance and other exit costs totaling $0.3 and $7 for the three and nine months ended September 30, 2017, respectively. Included in the severance and other exit costs for the nine months ended September 30, 2017 is a total cost of $3 associated with the closure of the Company's facility in Buffalo, New York and its facilities lease. In June 2017, the Company sold Xome's retail title division and recognized $8 gain, which was recorded in other income (expense) in the consolidated statements of operations. The disposal of the retail title division allows Xome to better align the title business with its operations. In connection with the sale, the Company wrote off net assets of $7, including customer relationships of $4 in intangible assets and $2 goodwill.

Business Segment Reporting

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Business Segment Reporting

17. Business Segment Reporting

Nationstar’s segments are based upon Nationstar’s organizational structure, which focuses primarily on the services offered. The accounting policies of each reportable segment are consistent with those of Nationstar except for 1) expenses for consolidated back-office operations and general overhead-type expenses such as executive administration and accounting, and 2) revenues generated on inter-segment services performed. Expenses are allocated to individual segments based on the estimated value of services performed, including estimated utilization of square footage and corporate personnel as well as the equity invested in each segment. 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.



	Three months ended September 30, 2017
	Servicing			Originations			Xome		Eliminations			Total Operating Segments			Corporate and Other			Consolidated
Revenues:
Service related, net	$	191		$	16		$	65	$	(20	)	$	252		$	—		$	252
Net gain on mortgage loans held for sale	—			134			—		20			154			—			154
Total revenues	191			150			65		—			406			—			406
Total Expenses	185			106			54		—			345			23			368
Other income (expenses):
Interest income	141			14			—		—			155			2			157
Interest expense	(130		)	(13		)	—		—			(143		)	(38		)	(181		)
Other	(2		)	—			—		—			(2		)	—			(2		)
Total Other Income (expenses), net	9			1			—		—			10			(36		)	(26		)
Income (loss) before income tax expense (benefit)	$	15		$	45		$	11	$	—		$	71		$	(59	)	$	12
Depreciation and amortization	$	6		$	3		$	3	$	—		$	12		$	3		$	15
Total assets	15,147			4,644			382		(2,948		)	17,225			779			18,004



	Three months ended September 30, 2016⁽¹⁾
	Servicing			Originations			Xome		Eliminations			Total Operating Segments			Corporate and Other			Consolidated
Revenues
Service related, net	$	211		$	16		$	107	$	(23	)	$	311		$	(1	)	$	310
Net gain on mortgage loans held for sale	—			208			—		23			231			1			232
Total revenues	211			224			107		—			542			—			542
Total Expenses	150			141			87		—			378			29			407
Other income (expenses)
Interest income	82			17			—		—			99			4			103
Interest expense	(108		)	(16		)	—		—			(124		)	(41		)	(165		)
Other	—			(1		)	—		—			(1		)	(1		)	(2		)
Total Other Income (expenses), net	(26		)	—			—		—			(26		)	(38		)	(64		)
Income (loss) before income tax expense (benefit)	$	35		$	83		$	20	$	—		$	138		$	(67	)	$	71
Depreciation and amortization	$	6		$	3		$	4	$	—		$	13		$	4		$	17
Total assets	12,250			4,523			345		(2,432		)	14,686			1,160			15,846

⁽¹⁾ The Company periodically evaluates corporate allocation methods in order to appropriately align corporate costs with its business. Certain 2016 costs within salaries, wages and benefits and operational expenses were reclassified between segments to conform to current year allocation methods.



	Nine months ended September 30, 2017
	Servicing			Originations			Xome		Eliminations			Total Operating Segments			Corporate and Other			Consolidated
Revenues
Service related, net	$	537		$	47		$	226	$	(63	)	$	747		$	1		$	748
Net gain on mortgage loans held for sale	—			402			—		63			465			—			465
Total revenues	537			449			226		—			1,212			1			1,213
Total Expenses	518			326			193		—			1,037			72			1,109
Other income (expenses)
Interest income	384			39			—		—			423			12			435
Interest expense	(402		)	(39		)	—		—			(441		)	(116		)	(557		)
Other	(2		)	—			8		—			6			(2		)	4
Total Other Income (expenses), net	(20		)	—			8		—			(12		)	(106		)	(118		)
Income (loss) before income tax expense (benefit)	$	(1	)	$	123		$	41	$	—		$	163		$	(177	)	$	(14	)
Depreciation and amortization	$	16		$	8		$	10	$	—		$	34		$	10		$	44
Total assets	15,147			4,644			382		(2,948		)	17,225			779			18,004



	Nine months ended September 30, 2016⁽¹⁾
	Servicing			Originations			Xome		Eliminations			Total Operating Segments			Corporate and Other			Consolidated
Revenues
Service related, net	$	225		$	47		$	327	$	(93	)	$	506		$	1		$	507
Net gain on mortgage loans held for sale	—			526			—		93			619			—			619
Total revenues	225			573			327		—			1,125			1			1,126
Total Expenses	477			394			274		—			1,145			87			1,232
Other income (expenses)
Interest income	254			48			—		—			302			11			313
Interest expense	(325		)	(44		)	—		—			(369		)	(124		)	(493		)
Other	—			(1		)	—		—			(1		)	(1		)	(2		)
Total Other Income (expenses), net	(71		)	3			—		—			(68		)	(114		)	(182		)
Income (loss) before income tax expense (benefit)	$	(323	)	$	182		$	53	$	—		$	(88	)	$	(200	)	$	(288	)
Depreciation and amortization	$	17		$	9		$	16	$	—		$	42		$	6		$	48
Total assets	12,250			4,523			345		(2,432		)	14,686			1,160			15,846

⁽¹⁾ The Company periodically evaluates corporate allocation methods in order to appropriately align corporate costs with its business. Certain 2016 costs within salaries, wages and benefits and operational expenses were reclassified between segments to conform to current year allocation methods.

Guarantor Financial Statement Information

9 Months Ended

Sep. 30, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Guarantor Financial Statement Information

18. Guarantor Financial Statement Information

As of September 30, 2017, Nationstar Mortgage LLC and Nationstar Capital Corporation⁽¹⁾(collectively, the "Issuer"), both wholly-owned subsidiaries of Nationstar, have issued $1,873 aggregate principal amount of unsecured senior notes, net of repayments, which mature on various dates through June 2022. 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. Nationstar and its two direct wholly-owned subsidiaries are guarantors of the unsecured senior notes as well. Presented below are the condensed consolidating financial statements of Nationstar, Nationstar Mortgage LLC and the guarantor subsidiaries for the periods indicated.

In the condensed consolidating financial statements presented below, Nationstar 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.

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING BALANCE SHEET SEPTEMBER 30, 2017

	Nationstar		Issuer⁽¹⁾		Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—	$	201	$	1	$	22	$	—		$	224
Restricted cash	—		211		—		145		—			356
Mortgage servicing rights	—		2,931		—		30		—			2,961
Advances and other receivables, net	—		1,625		—		—		—			1,625
Reverse mortgage interests, net	—		9,357		—		942		—			10,299
Mortgage loans held for sale at fair value	—		1,646		—		—		—			1,646
Mortgage loans held for investment, net	—		1		—		142		—			143
Property and equipment, net	—		108		—		19		—			127
Derivative financial instruments at fair value	—		76		—		—		—			76
Other assets	—		445		177		731		(806		)	547
Investment in subsidiaries	1,801		507		—		—		(2,308		)	—
Total assets	$	1,801	$	17,108	$	178	$	2,031	$	(3,114	)	$	18,004
Liabilities and Stockholders' Equity
Unsecured senior notes	$	—	$	1,873	$	—	$	—	$	—		$	1,873
Advance facilities, net	—		93		—		704		—			797
Warehouse facilities, net	—		2,774		—		—		—			2,774
Payables and accrued liabilities	—		1,149		2		37		—			1,188
MSR related liabilities - nonrecourse at fair value	—		1,046		—		20		—			1,066
Mortgage servicing liabilities	—		53		—		—		—			53
Derivative financial instruments, at fair value	—		7		—		—		—			7
Other nonrecourse debt, net	—		7,632		—		937		—			8,569
Payables to affiliates	124		680		—		2		(806		)	—
Total liabilities	124		15,307		2		1,700		(806		)	16,327
Total stockholders' equity	1,677		1,801		176		331		(2,308		)	1,677
Total liabilities and stockholders' equity	$	1,801	$	17,108	$	178	$	2,031	$	(3,114	)	$	18,004

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2017

	Nationstar		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—	$	181		$	7	$	64		$	—		$	252
Net gain on mortgage loans held for sale	—		153			—		1			—			154
Total revenues	—		334			7		65			—			406
Expenses:
Salaries, wages benefits	—		153			1		29			—			183
General and administrative	—		154			4		27			—			185
Total expenses	—		307			5		56			—			368
Other income (expenses):
Interest income	—		145			—		12			—			157
Interest expense	—		(168		)	—		(13		)	—			(181		)
Other income (expense)	—		(3		)	—		1			—			(2		)
Gain (loss) from subsidiaries	7		11			—		—			(18		)	—
Total other income (expenses), net	7		(15		)	—		—			(18		)	(26		)
Income (loss) before income tax expense (benefit)	7		12			2		9			(18		)	12
Less: Income tax expense	—		5			—		—			—			5
Net income (loss)	7		7			2		9			(18		)	7
Less: Net income attributable to noncontrolling interests	—		—			—		—			—			—
Net income (loss) attributable to Nationstar	$	7	$	7		$	2	$	9		$	(18	)	$	7

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SPETEMBER 30, 2017

	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—		$	497		$	21	$	230		$	—		$	748
Net gain on mortgage loans held for sale	—			464			—		1			—			465
Total revenues	—			961			21		231			—			1,213
Expenses:
Salaries, wages benefits	—			451			3		103			—			557
General and administrative	—			440			10		102			—			552
Total expenses	—			891			13		205			—			1,109
Other income (expenses):
Interest income	—			396			—		39			—			435
Interest expense	—			(515		)	—		(42		)	—			(557		)
Other income (expense)	—			(5		)	—		9			—			4
Gain (loss) from subsidiaries	(11		)	40			—		—			(29		)	—
Total other income (expenses), net	(11		)	(84		)	—		6			(29		)	(118		)
Income (loss) before income tax expense (benefit)	(11		)	(14		)	8		32			(29		)	(14		)
Less: Income tax expense	—			(4		)	—		—			—			(4		)
Net income (loss)	(11		)	(10		)	8		32			(29		)	(10		)
Less: Net income attributable to noncontrolling interests	—			1			—		—			—			1
Net income (loss) attributable to Nationstar	$	(11	)	$	(11	)	$	8	$	32		$	(29	)	$	(11	)

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2017

	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net income (loss) attributable to Nationstar	$	(11	)	$	(11	)	$	8		$	32		$	(29	)	$	(11	)
Reconciliation of net income (loss) to net cash attributable to operating activities:
(Gain) loss from subsidiaries	11			(40		)	—			—			29			—
Net income attributable to non-controlling interest	—			1			—			—			—			1
Net gain on mortgage loans held for sale	—			(464		)	—			(1		)	—			(465		)
Reverse mortgage loan interest income	—			(368		)	—			—			—			(368		)
(Gain) loss on sale of assets	—			1			—			(9		)	—			(8		)
Provision for servicing reserves	—			113			—			—			—			113
Fair value changes and amortization of mortgage servicing rights	—			361			—			—			—			361
Fair value changes in excess spread financing	—			2			—			(2		)	—			—
Fair value change in mortgage servicing rights financing liability	—			(7		)	—			—			—			(7		)
Amortization of premiums and accretion of discount	—			55			—			8			—			63
Depreciation and amortization	—			33			—			11			—			44
Share-based compensation	—			9			—			4			—			13
Other losses	—			5			—			—			—			5
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(943		)	—			—			—			(943		)
Repurchases of reverse loan assets out of Ginnie Mae securitizations, net of assignments to prior servicers	—			(2,468		)	—			—			—			(2,468		)
Mortgage loans originated and purchased, net of fees, and other purchase-related activities	—			(14,002		)	—			—			—			(14,002		)
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			15,459			—			13			—			15,472
Excess tax benefit (deficiency) from share based compensation	—			(1		)	—			—			—			(1		)
Changes in assets and liabilities:
Advances and other receivables, net	—			55			—			—			—			55
Reverse mortgage interests, net	—			3,719			—			(225		)	—			3,494
Other assets	4			(99		)	(9		)	87			—			(17		)
Payables and accrued liabilities	—			(273		)	—			(11		)	—			(284		)
Net cash attributable to operating activities	4			1,137			(1		)	(93		)	—			1,047

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2017 (Continued)

	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing activities
Property and equipment additions, net of disposals	—			(31		)	—			(3		)	—		(34		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—			(22		)	—			(6		)	—		(28		)
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables	—			16			—			—			—		16
Proceeds on sale of forward and reverse mortgage servicing rights	—			25			—			—			—		25
Proceeds on sale of assets	—			16			—			—			—		16
Net cash attributable to investing activities	—			4			—			(9		)	—		(5		)
Financing activities
Increase in warehouse facilities	—			351			—			—			—		351
Decrease in advance facilities	—			(93		)	—			(205		)	—		(298		)
Proceeds from HECM securitizations	—			(6		)	—			707			—		701
Repayment of HECM securitizations	—			—			—			(484		)	—		(484		)
Proceeds from issuance of participating interest financing in reverse mortgage interests, net	—			437			—			—			—		437
Repayment of participating interest financing in reverse mortgage interests, net	—			(1,730		)	—			—			—		(1,730		)
Repayment of excess spread financing	—			(168		)	—			—			—		(168		)
Repayment of nonrecourse debt–legacy assets	—			—			—			(12		)	—		(12		)
Repurchase of unsecured senior notes	—			(122		)	—			—			—		(122		)
Transfers (to) from restricted cash, net	—			(46		)	—			84			—		38
Surrender of shares relating to stock vesting	(4		)	—			—			—			—		(4		)
Debt financing costs	—			(11		)	—			—			—		(11		)
Dividends to noncontrolling interests	—			(5		)	—			—			—		(5		)
Net cash attributable to financing activities	(4		)	(1,393		)	—			90			—		(1,307		)
Net decrease in cash and cash equivalents	—			(252		)	(1		)	(12		)	—		(265		)
Cash and cash equivalents - beginning of period	—			453			2			34			—		489
Cash and cash equivalents - end of period	$	—		$	201		$	1		$	22		$	—	$	224

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2016

	Nationstar		Issuer⁽¹⁾		Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—	$	453	$	2	$	34	$	—		$	489
Restricted cash	—		159		—		229		—			388
Mortgage servicing rights	—		3,142		—		24		—			3,166
Advances and other receivables, net	—		1,749		—		—		—			1,749
Reverse mortgage interests, net	—		10,316		—		717		—			11,033
Mortgage loans held for sale at fair value	—		1,787		—		1		—			1,788
Mortgage loans held for investment, net	—		1		—		150		—			151
Property and equipment, net	—		113		—		23		—			136
Derivative financial instruments at fair value	—		133		—		—		—			133
Other assets	—		444		323		838		(1,045		)	560
Investment in subsidiaries	1,801		634		—		—		(2,435		)	—
Total assets	$	1,801	$	18,931	$	325	$	2,016	$	(3,480	)	$	19,593
Liabilities and stockholders' equity
Unsecured senior notes	$	—	$	1,990	$	—	$	—	$	—		$	1,990
Advance facilities, net	—		187		—		909		—			1,096
Warehouse facilities, net	—		2,421		—		—		—			2,421
Payables and accrued liabilities	—		1,420		2		48		—			1,470
MSR related liabilities - nonrecourse at fair value	—		1,219		—		22		—			1,241
Mortgage servicing liabilities	—		48		—		—		—			48
Derivative financial instruments, at fair value	—		13		—		—		—			13
Other nonrecourse debt, net	—		8,907		—		724		—			9,631
Payables to affiliates	118		925		—		2		(1,045		)	—
Total liabilities	118		17,130		2		1,705		(1,045		)	17,910
Total stockholders' equity	1,683		1,801		323		311		(2,435		)	1,683
Total liabilities and stockholders' equity	$	1,801	$	18,931	$	325	$	2,016	$	(3,480	)	$	19,593

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2016

	Nationstar		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—	$	196		$	5	$	109		$	—		$	310
Net gain on mortgage loans held for sale	—		222			—		10			—			232
Total revenues	—		418			5		119			—			542
Expenses:
Salaries, wages and benefits	—		156			1		54			—			211
General and administrative	—		143			2		51			—			196
Total expenses	—		299			3		105			—			407
Other income (expenses):
Interest income	—		91			—		12			—			103
Interest expense	—		(146		)	—		(19		)	—			(165		)
Other expense	—		(2		)	—		—			—			(2		)
Gain (loss) from subsidiaries	45		9			—		—			(54		)	—
Total other income (expenses), net	45		(48		)	—		(7		)	(54		)	(64		)
Income (loss) before income tax expense (benefit)	45		71			2		7			(54		)	71
Less: Income tax (benefit)	—		29			—		—			—			29
Net income (loss)	45		42			2		7			(54		)	42
Less: Net loss attributable to noncontrolling interests	—		(3		)	—		—			—			(3		)
Net income (loss) attributable to Nationstar	$	45	$	45		$	2	$	7		$	(54	)	$	45

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2016

	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Revenues:
Service related, net	$	—		$	156		$	19	$	332		$	—	$	507
Net gain on mortgage loans held for sale	—			590			—		29			—		619
Total revenues	—			746			19		361			—		1,126
Expenses:
Salaries, wages benefits	—			448			3		162			—		613
General and administrative	—			453			6		160			—		619
Total expenses	—			901			9		322			—		1,232
Other income (expenses):
Interest income	—			276			—		37			—		313
Interest expense	—			(437		)	—		(56		)	—		(493		)
Other expense	—			(2		)	—		—			—		(2		)
Gain (loss) from subsidiaries	(179		)	30			—		—			149		—
Total other income (expenses), net	(179		)	(133		)	—		(19		)	149		(182		)
Income (loss) before income tax expense (benefit)	(179		)	(288		)	10		20			149		(288		)
Less: Income tax expense	—			(106		)	—		—			—		(106		)
Net income (loss)	(179		)	(182		)	10		20			149		(182		)
Less: Net loss attributable to noncontrolling interests	—			(3		)	—		—			—		(3		)
Net income (loss) attributable to Nationstar	$	(179	)	$	(179	)	$	10	$	20		$	149	$	(179	)

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2016

	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net income (loss) attributable to Nationstar	$	(179	)	$	(179	)	$	10		$	20		$	149		$	(179	)
Reconciliation of net income (loss) to net cash attributable to operating activities:
(Gain)/loss from subsidiaries	179			(30		)	—			—			(149		)	—
Net loss attributable to non-controlling interest	—			(3		)	—			—			—			(3		)
Net gain on mortgage loans held for sale	—			(590		)	—			(29		)	—			(619		)
Reverse mortgage loan interest income	—			(251		)	—			—			—			(251		)
Loss on sale of assets	—			2			—			—			—			2
Provision for servicing reserves	—			101			—			—			—			101
Fair value changes and amortization of mortgage servicing rights	—			778			—			—			—			778
Fair value changes in excess spread financing	—			(74		)	—			—			—			(74		)
Fair value changes in mortgage servicing rights financing liability	—			(2		)	—			—			—			(2		)
Amortization of premiums and accretion of discount	—			(7,254		)	—			7,302			—			48
Depreciation and amortization	—			32			—			16			—			48
Share-based compensation	—			13			—			5			—			18
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(1,138		)	—			—			—			(1,138		)
Repurchases of reverse loans assets out of Ginnie Mae securitizations, net of assignments to prior servicers	—			(1,609		)	—			—			—			(1,609		)
Mortgage loans originated and purchased, net of fees, and other purchase-related activities	—			(14,296		)	—			(767		)	—			(15,063		)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			22,684			—			(6,416		)	—			16,268
Excess tax benefit from share based compensation	—			4			—			—			—			4
Changes in assets and liabilities:
Advances and other receivables, net	—			504			—			—			—			504
Reverse mortgage interests, net	—			2,137			—			(115		)	—			2,022
Other assets	117			(682		)	(10		)	439			—			(136		)
Payables and accrued liabilities	—			(135		)	—			(4		)	—			(139		)
Net cash attributable to operating activities	117			12			—			451			—			580

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2016 (Continued)

	Nationstar			Issuer(1)			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing Activities
Property and equipment additions, net of disposals	—			(40		)	—		(9		)	—		(49		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—			(36		)	—		—			—		(36		)
Proceeds on sale of forward and reverse mortgage servicing rights	—			25			—		—			—		25
Net cash attributable to investing activities	—			(51		)	—		(9		)	—		(60		)
Financing Activities
Increase in warehouse facilities	—			774			—		(56		)	—		718
Decrease in advance facilities	—			(29		)	—		(429		)	—		(458		)
Proceeds from issuance of HECM securitizations	—			(4		)	—		728			—		724
Repayment of HECM securitizations	—			—			—		(624		)	—		(624		)
Proceeds from issuance of participating interest financing in reverse mortgage interests, net	—			337			—		—			—		337
Repayment of participating interest financing in reverse mortgage interests, net	—			(817		)	—		—			—		(817		)
Repayment of excess spread financing	—			(146		)	—		—			—		(146		)
Repayment of nonrecourse debt - legacy assets	—			1			—		(13		)	—		(12		)
Repurchase of unsecured senior notes	—			(29		)	—		—			—		(29		)
Repurchase of common stock	(114		)	—			—		—			—		(114		)
Transfers to restricted cash, net	—			33			—		(33		)	—		—
Excess tax deficiency from share based compensation	—			(4		)	—		—			—		(4		)
Surrender of shares relating to stock vesting	(3		)	—			—		—			—		(3		)
Debt financing costs	—			(10		)	—		—			—		(10		)
Net cash attributable to financing activities	(117		)	106			—		(427		)	—		(438		)
Net increase in cash and cash equivalents	—			67			—		15			—		82
Cash and cash equivalents - beginning of period	—			597			1		15			—		613
Cash and cash equivalents - end of period	$	—		$	664		$	1	$	30		$	—	$	695

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

Transactions with Affiliates	9 Months Ended
Transactions with Affiliates	Sep. 30, 2017
Related Party Transactions [Abstract]
Transactions with Affiliates	19. Transactions with Affiliates Nationstar enters into arrangements with Fortress, its subsidiaries managed funds, or affiliates for purposes of financing the Company's MSR acquisitions and performing services as a subservicer. An affiliate of Fortress holds a majority of the outstanding common shares of the Company. The following summarizes the transactions with affiliates of Fortress. Newcastle Investment Corp. ("Newcastle") Nationstar is the loan servicer for several securitized loan portfolios managed by Newcastle, which is managed by an affiliate of Fortress. Nationstar receives a monthly net servicing fee equal to 0.5% per annum on the unpaid principal balance of the Portfolios, which was $511 and $576, at September 30, 2017 and December 31, 2016 respectively. For the three months ended September 30, 2017 and 2016, Nationstar received servicing fees and other performance incentive fees of $0.6 and $0.7, respectively. For the nine months ended September 30, 2017 and 2016, Nationstar recognized revenue of $2 and $2 related to these servicing arrangements, respectively. New Residential Investment Corp. ("New Residential") Excess Spread Financing Nationstar 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"). Nationstar 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. Nationstar, 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 Nationstar refinance any loan in such portfolios, subject to certain limitations, Nationstar 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 fair value of the outstanding liability related to these agreements was $899 and $1,064 at September 30, 2017 and December 31, 2016, respectively. For the three months ended September 30, 2017 and 2016, Nationstar fees paid to New Residential Entity totaled $59 and $71, respectively. Fees paid to New Residential Entity totaled $186 and $222 for the nine months ended September 30, 2017 and 2016, respectively, which are recorded as a reduction to servicing fee revenue, net. Mortgage Servicing Rights Financing From December 2013 through June 2014, Nationstar 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. Nationstar continues to be the named servicer and, for accounting purposes, ownership of the mortgage servicing rights continues to reside with Nationstar. Accordingly, Nationstar accounts for the MSRs and the related MSRs financing liability on its consolidated balance sheets. Nationstar will continue to sell future servicing advances to New Residential. The fair value of the outstanding liability related to the sale agreement was $20 and $27 at September 30, 2017 and December 31, 2016, respectively. Nationstar did not enter into any additional supplemental agreements with these affiliates in 2017 and 2016. Subservicing and Servicing In January 2017, the Company entered into a subservicing agreement with a subsidiary of New Residential. Under the agreement, the Company initially estimated that it will subservice approximately $111 billion of UPB of MSRs that New Residential has agreed to purchase, including approximately $97 billion UPB of MSRs from CitiMortgage, Inc. Based on the updated estimates, the Company expects to subservice a total of $107 billion UPB. The Company has boarded a total $72 billion UPB loans associated with this subservicing agreement, including $29 billion UPB loans boarded in the third quarter of 2017. The Company anticipates that the remaining $35 billion UPB will be boarded in the fourth quarter of 2017. In May 2014, Nationstar entered into a servicing arrangement with New Residential whereby Nationstar will service residential mortgage loans acquired by New Residential and/or its various affiliates and trust entities. For the three months ended September 30, 2017 and 2016, Nationstar recognized revenue of $11 and $1 related to these servicing arrangements, respectively. For the nine months ended September 30, 2017 and 2016, Nationstar recognized revenue of $20 and $4 related to these servicing arrangements, respectively. Nationstar acted as servicer or master servicer for New Residential related to the collapse of certain securitization trusts pursuant to the exercise by New Residential of its clean up call rights. The Company earned revenue of $0.4 and $0.5 for these administration services during the three months ended September 30, 2017 and 2016. The Company earned revenue of $1 and $0.7 for these administration services during the nine months ended September 30, 2017 and 2016, respectively. OneMain Financial Holdings, LLC Nationstar receives a monthly per loan subservicing fee and other performance incentive fees subject to agreements with OneMain Financial Holdings, LLC. For the three months ended September 30, 2017 and 2016, Nationstar recognized revenue of $0.2 and $0.5, respectively, in additional servicing and other performance incentive fees related to these portfolios. For the nine months ended September 30, 2017 and 2016, Nationstar recognized revenue of $1 and $1 related to these servicing arrangements, respectively.

Nature of Business and Basis of Presentation (Policies)	9 Months Ended
Nature of Business and Basis of Presentation (Policies)	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated interim financial statements of Nationstar have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission ("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 Nationstar's Annual Report on Form 10-K for the year ended December 31, 2016. The interim consolidated financial statements are unaudited; however, in the opinion of management, all adjustments considered necessary for a fair presentation of the results of the interim periods have been included. Certain prior period amounts have been reclassified to conform to the current period presentation. Dollar amounts are reported in millions, except per share data and other key metrics, unless otherwise noted. Nationstar evaluated subsequent events through the date these interim consolidated financial statements were issued. The Company describes its significant accounting policies in Note 2 of the notes to the consolidated financial statements in its Annual Report on Form 10-K for the year ended December 31, 2016. During the nine months ended September 30, 2017, no significant changes were made to those accounting policies except that the Company updated its policy on advances and other receivables to include more detailed description of its position on write-offs of advance balances. Nationstar records reserves for advances and other receivables and evaluates the sufficiency of such reserves through consideration of both historical and expected recovery rates on claims filed with government agencies, government sponsored enterprises, vendors, prior servicers and other counterparties. Recovery of advances and other receivables is subject to significant judgment and estimates based on the Company’s assessment of its compliance with servicing guidelines, its ability to produce the necessary documentation to support claims, its ability to support amounts from prior servicers and to effectively negotiate settlements, as needed. Each period, management reviews recorded advances and other receivables and upon determination that no further recourse for recovery is available from all means known to management, the recorded balances associated with these receivables are written-off against the reserve. The Company periodically evaluates corporate allocation methods in order to appropriately align corporate costs with its business. Certain 2016 costs within salaries, wages and benefits and operational expenses were reclassified between segments to conform to current year allocation methods. Such reclassifications had no impact on previously reported net income or shareholders' equity. See Note 17, Business Segment Reporting for information on the changes in the Company's reportable segments.
Basis of Consolidation	Basis of Consolidation The consolidated financial statements include the accounts of Nationstar, its wholly-owned subsidiaries, and other entities in which the Company has a controlling financial interest, and those variable interest entities ("VIE") where Nationstar is the primary beneficiary. Nationstar 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. Intercompany balances and transactions on consolidated entities have been eliminated. Assets and liabilities of VIEs and their respective results of operations are consolidated from the date that Nationstar became the primary beneficiary through the date Nationstar ceases to be the primary beneficiary.
Recent Accounting Guidance Adopted and Not Yet Adopted	Recent Accounting Guidance Adopted Effective January 1, 2017, the Company prospectively adopted Accounting Standards Update No. 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting (ASU 2016-09), which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, calculation of earnings per share, classification of awards as either equity or liabilities, and classification of cash flows. Amendments related to accounting for excess tax benefits or deficiencies have been adopted prospectively, resulting in the recognition of $1 of excess tax deficiencies within income tax expense rather than additional paid in capital for the nine months ended September 30, 2017. The impact on diluted earnings per share is $0.01 per share for the period. Excess tax benefits or deficiencies related to share-based payments are now included in operating cash flows rather than financing cash flows. This change has been applied prospectively in accordance with ASU 2016-09 and prior periods have not been adjusted. The amendments allow for a one-time accounting policy election to either account for forfeitures as they occur or continue to estimate forfeitures as required by current guidance. The Company has elected to continue estimating forfeitures under the current guidance. Recent Accounting Guidance Not Yet Adopted Accounting Standards Update No. 2014-09, 2016-08, 2016-10, 2016-12 and 2016-20, collectively implemented as FASB Accounting Standards Codification Topic 606 ("ASC 606") Revenue from Contracts with Customers, provides guidance for revenue recognition. This ASC’s core principle requires a company to recognize revenue when it transfers promised goods or services to customers in an amount that reflects consideration to which the company expects to be entitled in exchange for those goods or services. The standard also clarifies the principal versus agent considerations, providing the evaluation must focus on whether the entity has control of the goods or services before they are transferred to the customer. The new standard permits the use of either the modified retrospective or full retrospective transition method. The Company's revenue is generated from loan servicing, loan originations, and services provided by Xome. Servicing revenue is comprised of servicing fees and other ancillary fees in connection with our servicing activities as well as fees earned under subservicing arrangements. Origination revenue is comprised of fee income earned at origination of a loan, interest income earned for the period the loans are held, and gain on sale on loans upon disposition of the loan. Xome's revenue is comprised of income earned from real estate exchange, real estate services and real estate technology and support. We have performed a preliminary review of the new guidance as compared to our current accounting policies and are currently evaluating all services rendered to our customers as well as underlying contracts to determine the impact of this standard to our revenue recognition process. The majority of services rendered by the Company in connection with originations and servicing are not within the scope of ASC 606. However, through our review, we have identified one service offering (Services and Software as a Service) under the Xome operating segment that is within the scope of ASC 606. Although revenue recognition may be impacted to some degree for this service offering, we do not anticipate the impact to be materially different from the current revenue recognition processes. Our implementation efforts to date include identification of revenue streams within the scope of the guidance, and we are in the process of reviewing revenue contracts to assess the impact at a customer level. The Company expects to adopt the standard in the first quarter of 2018 with a cumulative effect adjustment to opening retained earnings, as necessary. Accounting Standards Update No. 2016-02, Leases (ASU 2016-02), primarily impacts 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. The lease liability will be equal to the present value of all reasonably certain lease payments. The right-of-use asset will be based on the liability, subject to adjustment for initial direct costs. Lease agreements with terms 12 months or less are permitted to be excluded from the balance sheet. In general, leases will be amortized on a straight-line basis with the exception of finance lease agreements. ASU 2016-02 is effective for interim periods beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of this ASU on the consolidated financial statements and to its debt covenants and capitalization requirements. 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. Previously, when credit losses were measured under GAAP, an entity generally only considered past events and current conditions in measuring the incurred loss. ASU 2016-13 is effective for interim periods beginning after December 15, 2019. The Company is currently evaluating the potential impact of ASU 2016-13 on its consolidated financial statements. Accounting Standards Update No. 2016-15, Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15) and Accounting Standards Update No 2016-18 Statement of Cash Flows (Topic 230) Restricted Cash (ASU 2016-18) both relate to the Statement of Cash Flows (Topic 230) and are intended to provide specific guidance to reduce diversity in practice. ASU 2016-15 addresses the following eight cash flow classification issues: (1) debt prepayment or debt extinguishment costs, (2) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, (3) contingent consideration payments made after a business combination, (4) proceeds from the settlement of life insurance claims, (5) proceeds from the settlement of corporate owned life insurance policies, including bank-owned life insurance policies, (6) distributions received from equity method investees, (7) beneficial interests in securitization transactions and (8) separately identifiable cash flows and application of the predominance principle. This ASU is effective for fiscal years beginning after December 15, 2017, and will require adoption on a retrospective basis. The Company is currently evaluating the impact of the application of ASU 2016-15 will have on the Company’s classification of cash flows. ASU 2016-18 addresses the classification and presentation of changes in restricted cash on the statement of cash flows. This new standard requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Entities will also be required to reconcile such total to amounts on the balance sheet and disclose the nature of the restrictions. ASU 2016-18 will be effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017, with early adoption permitted. The Company is currently evaluating the potential impact of ASU 2016-18 on its consolidated financial statements. Accounting Standards Update No. 2017-04, Simplifying the Test for Goodwill Impairment, simplifies the accounting for goodwill impairment for all entities by requiring impairment charges to be based on the first step in today’s two-step impairment test under Accounting Standards Codification (ASC) 350. The standard has tiered effective dates, starting in 2020 for calendar-year public business entities that meet the definition of an SEC filer. Early adoption is permitted for annual and interim goodwill impairment testing dates after January 1, 2017. The Company is currently evaluating the potential impact of ASU 2017-04 on our consolidated financial statements. ASU 2017-04 is effective for the Company for its annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. ASU 2017-04 will be adopted prospectively. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017.
Fair Value	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 Nationstar 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) – Nationstar originates mortgage loans in the U.S. that it intends to sell into Fannie Mae, Freddie Mac, and Ginnie Mae MBS (collectively, the "Agencies"). Additionally, Nationstar holds mortgage loans that it intends to sell into the secondary markets via whole loan sales or securitizations. Nationstar 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, Nationstar 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. Nationstar classifies these valuations as Level 2 in the fair value disclosures. Nationstar may also purchase loans out of a Ginnie Mae securitization pool if that loan meets certain criteria, including being delinquent greater than 90 days. Nationstar has elected to carry these loans at fair value. See Note 5, Mortgage Loan Held for Sale and Investment for more information. Mortgage Loans Held for Investment, Net (Level 3) – Nationstar determines the fair value of loans held for investment based on the expected future cash flows discounted over the expected life of the loans at a rate commensurate with the risk of the estimated cash flows. Significant assumptions include expected prepayment speeds and discount rates. These internal inputs require the use of judgment by Nationstar 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, Nationstar classifies these valuations as Level 3 in the fair value disclosures. See Note 5, Mortgage Loan Held for Sale and Investment for more information. Mortgage Servicing Rights – Fair Value (Level 3) – Nationstar 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, discount rates, ancillary revenues and costs to service. 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 Nationstar 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, Nationstar classifies these valuations as Level 3 in the fair value disclosures. See Note 2, Mortgage Servicing Rights and Related Liabilities for more information. Advances and Other Receivables, Net (Level 3) - Advances and other receivables 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. 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. Fair value for active reverse mortgage loans is estimated based on pricing of recent securitizations with similar attributes and characteristics, such as collateral values and prepayment speeds and adjusted as necessary for differences. The recent timing of these transactions allows the pricing to consider the current interest rate risk exposures. The fair value of inactive reverse mortgage loans is established based upon a discounted par value of the loan derived from the Company’s historical loss factors experienced on foreclosed loans. Derivative Financial Instruments (Level 2) – Nationstar 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 balance sheet. The majority of these derivatives are exchange-traded or traded within highly active dealer markets. In order to determine the fair value of these instruments, Nationstar utilizes the exchange price or dealer market price for the particular derivative contract; therefore, these contracts are classified as Level 2. In addition, Nationstar 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. Nationstar 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. Nationstar 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. See Note 7, 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 8, 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 8, Indebtedness for more information. Nonrecourse Debt – Legacy Assets (Level 3) – Nationstar 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 8, Indebtedness for more information. Excess Spread Financing (Level 3) – Nationstar 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, Nationstar classifies these valuations as Level 3 in the fair value disclosures. See Note 2, Mortgage Servicing Rights and Related Liabilities for more information. Mortgage Servicing Rights Financing Liability (Level 3) - Nationstar 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, annual advance recovery rates and working capital. As these assumptions are derived from internally developed valuation models based on the value of the underlying MSRs, Nationstar classifies these valuations as Level 3 in the fair value disclosures. See Note 2, Mortgage Servicing Rights and Related Liabilities for more information. Participating Interest Financing (Level 2) – Nationstar estimates the fair value using a market approach by utilizing the fair value of securities backed by similar participating interests in reverse mortgage loans. Nationstar classifies these valuations as Level 2 in the fair value disclosures. See Note 2, Mortgage Servicing Rights and Related Liabilities, and Note 8, Indebtedness for more information. HECM Securitizations (Level 3) – Nationstar estimates fair value of the nonrecourse debt related to HECM securitization 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, Nationstar classifies this as Level 3 in the fair value disclosures. See Note 8, Indebtedness for more information.

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

9 Months Ended

Sep. 30, 2017

Transfers and Servicing [Abstract]

Schedule of Servicing Assets at Fair Value

The following table provides a breakdown of credit and interest sensitive UPBs for Nationstar's forward owned MSRs.



Forward MSRs - Sensitivity Pools	September 30, 2017				December 31, 2016
	UPB		Fair Value		UPB		Fair Value
Credit sensitive	$	174,318	$	1,640	$	198,935	$	1,818
Interest sensitive	114,132		1,316		113,141		1,342
Total	$	288,450	$	2,956	$	312,076	$	3,160

The following table sets forth the carrying value of Nationstar's MSRs and the related liabilities.



MSRs and Related Liabilities	September 30, 2017		December 31, 2016
Forward MSRs - fair value	$	2,956	$	3,160
Reverse MSRs - amortized cost	5		6
Mortgage servicing rights	$	2,961	$	3,166

Mortgage servicing liabilities - amortized cost	$	53	$	48

Excess spread financing - fair value	$	1,046	$	1,214
Mortgage servicing rights financing liability - fair value	20		27
MSR related liabilities (nonrecourse)	$	1,066	$	1,241

The following table sets forth the activities of forward MSRs during the nine months ended September 30, 2017 and 2016.



	Nine months ended September 30,
Forward MSRs - Fair Value	2017			2016
Fair value - beginning of period	$	3,160		$	3,358
Additions:
Servicing retained from mortgage loans sold	151			142
Purchases of servicing rights	30			39
Dispositions:
Sales of servicing assets	(24		)	(24		)
Changes in fair value:
Changes in valuation inputs or assumptions used in the valuation model	(113		)	(494		)
Other changes in fair value	(248		)	(296		)
Fair value - end of period	$	2,956		$	2,725

Schedule of Assumptions for Fair Value of Mortgage Service Rights

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



Credit Sensitive	September 30, 2017		December 31, 2016
Discount rate	11.4	%	11.6	%
Total prepayment speeds	15.4	%	15.4	%
Expected weighted-average life	5.6 years		6.0 years

Interest Sensitive
Discount rate	9.2	%	9.3	%
Total prepayment speeds	11.3	%	10.7	%
Expected weighted-average life	6.5 years		6.8 years

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



Mortgage Servicing Rights Financing Assumptions	September 30, 2017		December 31, 2016
Advance financing rates	3.5	%	3.2	%
Annual advance recovery rates	23.3	%	23.9	%

The range of key assumptions used in Nationstar's valuation of excess spread financing are as follows.



Excess Spread Financing	Prepayment Speeds	Average Life (Years)	Discount Rate	Recapture Rate
September 30, 2017
Low	6.7%	4.3	8.5%	7.1%
High	21.1%	6.8	14.1%	30.0%
Weighted-average	13.9%	5.9	10.8%	18.8%
December 31, 2016
Low	6.1%	4.1	8.5%	6.7%
High	21.2%	8.5	14.1%	29.8%
Weighted-average	13.9%	6.3	10.8%	19.0%

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 forward MSRs fair value when applying certain unfavorable variations of key assumptions to these assets at September 30, 2017 and December 31, 2016.



	Discount Rate						Total Prepayment Speeds
Forward MSRs - Hypothetical Sensitivities	100 bps Adverse Change			200 bps Adverse Change			10% Adverse Change			20% Adverse Change
September 30, 2017
Mortgage servicing rights	$	(106	)	$	(205	)	$	(122	)	$	(235	)
December 31, 2016
Mortgage servicing rights	$	(114	)	$	(221	)	$	(117	)	$	(224	)

The following table shows the hypothetical effect on the excess spread financing fair value when applying certain unfavorable variations of key assumptions to these liabilities at September 30, 2017 and December 31, 2016.



	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, 2017
Excess spread financing	$	39	$	81	$	36	$	75
December 31, 2016
Excess spread financing	$	49	$	101	$	41	$	85

Activity of MSRs at Amortized Cost

The following table sets forth the activities of reverse MSRs and mortgage servicing liabilities ("MSLs") for the nine months ended September 30, 2017 and 2016. Management evaluates reverse MSRs and MSLs each reporting period for impairment. Based on management's assessment at September 30, 2017, no impairment was required to be recorded for reverse MSRs.



	Nine months ended September 30,
	2017						2016
	Assets			Liabilities			Assets			Liabilities
Reverse MSRs and Liabilities - Amortized Cost
Balance - beginning of period	$	6		$	48		$	9		$	25
Increase in MSL⁽¹⁾	—			6			—			—
Amortization/accretion	(1		)	(1		)	(2		)	(14		)
Balance - end of the period	$	5		$	53		$	7		$	11
Fair value - end of period	$	5		$	9		$	25		$	2

⁽¹⁾The Company executed an asset purchase agreement in December 2016 with a large financial institution, acquiring the servicing rights related to a $9,305 UPB reverse loan portfolio of HECM loans owned by a GSE. In connection with the acquisition, the Company recorded a $17 MSL reflecting the fair value associated with this reverse servicing portfolio on the date of acquisition. In September 2017, the Company executed another mortgage servicing rights purchase agreement to acquire servicing rights on a reverse mortgage portfolio of $747 UPB.

Schedule of Fees Earned in Exchange for Servicing Financial Assets

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



	Three months ended September 30,						Nine months ended September 30,
Servicing Revenue	2017			2016			2017			2016
Contractually specified servicing fees⁽¹⁾	$	251		$	254		$	759		$	786
Other service-related income⁽¹⁾	44			67			142			214
Incentive and modification income⁽¹⁾	19			35			63			82
Late fees⁽¹⁾	22			20			67			57
Reverse servicing fees	16			11			43			46
Mark-to-market⁽²⁾	(48		)	(9		)	(176		)	(502		)
Counterparty revenue share⁽³⁾	(53		)	(75		)	(174		)	(223		)
Amortization, net of accretion⁽⁴⁾	(60		)	(92		)	(187		)	(235		)
Total servicing revenue	$	191		$	211		$	537		$	225

⁽¹⁾Amounts include subservicing related revenues.

⁽²⁾ Mark-to-market includes fair value adjustments on MSR, excess spread financing and MSR financing liabilities. The amount of MSR MTM reflected is net of cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans that are no longer part of the MSR portfolio and these incurred losses have been transferred to reserves on advances and other receivables. These cumulative incurred losses totaled $20 and $27 for the three months ended September 30, 2017 and 2016, respectively, and $69 and $85 for the nine months ended September 30, 2017 and 2016, respectively.

⁽³⁾ 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.

⁽⁴⁾ Accretion was $41 and $46 for the three months ended September 30, 2017 and 2016, respectively, and $123 and $149 for the nine months ended September 30, 2017 and 2016, respectively.

Advances and Other Receivables, Net (Tables)

9 Months Ended

Sep. 30, 2017

Receivables [Abstract]

Schedule of Accounts Receivable

The activity of the reserves for advances and other receivables is set forth below.



	Three months ended September 30,						Nine months ended September 30,
Advances and Other Receivables Reserves	2017			2016			2017			2016
Balance - beginning of period⁽¹⁾	$	236		$	238		$	184		$	163
Provision and other additions⁽²⁾	30			37			106			126
Write-offs	(13		)	(95		)	(37		)	(109		)
Balance - end of period	$	253		$	180		$	253		$	180

⁽¹⁾Beginning reserve balance as of January 1, 2016 was updated to reflect the reclassification of reserves for advances and other receivables from the MSR.

⁽²⁾ A provision of $20 and $27 was recorded through the MTM adjustment in service related revenues for the three months ended September 30, 2017 and 2016, respectively, and $69 and $85 for the nine months ended September 30, 2017 and 2016, respectively, for inactive and liquidated loans that are no longer part of the MSR portfolio. Other additions represent reclassifications of required reserves from other balance sheet accounts.

Advances and other receivables, net consists of the following.



	September 30, 2017			December 31, 2016
Servicing advances	$	1,489		$	1,614
Receivables from agencies, investors and prior servicers	389			319
Reserves	(253		)	(184		)
Total advances and other receivables, net	$	1,625		$	1,749

Reverse Mortgage Interests, Net (Tables)

9 Months Ended

Sep. 30, 2017

Reverse Mortgage Interests [Abstract]

Reverse Mortgage Interest

The activity of the reserves for reverse mortgage interests is set forth below.



	Three months ended September 30,						Nine months ended September 30,
	2017			2016			2017			2016
Reserves for reverse mortgage interests - beginning of period	$	149		$	71		$	131		$	53
Provision⁽¹⁾	22			28			44			43
Write-offs⁽²⁾	(29		)	(7		)	(33		)	(7		)
Other⁽³⁾	(54		)	1			(54		)	4
Reserves for reverse mortgage interests - end of period	$	88		$	93		$	88		$	93

⁽¹⁾During the three months ended September 30, 2017, reserves increased attributable to the Company refining its method to estimate losses from a pool-level view to a loan-level view based on characteristics of individual loans.

⁽²⁾ The write-offs in the three months ended September 30, 2017 were primarily attributable to transactions that were fully reserved and processed after conversion to the Company's new internally developed reverse servicing platform.

⁽³⁾ During the three months ended September 30, 2017, the Company reclassified certain amounts within reverse mortgage interests to be comparable to prior periods and also updated its initial estimate of the relative fair value allocation related to the servicing portfolio acquired in December 2016 and reclassified $61 from reserves to a purchase price discount. This amount is now included in the net basis of unsecuritized interest of reverse mortgage interests.

Reverse mortgage interests, net consist of the following.



	September 30, 2017			December 31, 2016
Participating interests in HMBS	$	7,573		$	8,839
Other interests securitized	985			753
Unsecuritized interests	1,829			1,572
Reserves	(88		)	(131		)
Total reverse mortgage interests, net	$	10,299		$	11,033

Participating interests in HMBS

Participating interests in HMBS consist of the Company's reverse mortgage interests in HECM loans which have been tra

Unsecuritized interests in reverse mortgages consist of the following.



	September 30, 2017		December 31, 2016
Repurchased HECM loans	$	1,407	$	1,000
HECM related receivables	291		301
Funded borrower draws not yet securitized	113		236
Foreclosed assets	18		35
Total unsecuritized interests	$	1,829	$	1,572

Mortgage Loans Held for Sale and Investment (Tables)

9 Months Ended

Sep. 30, 2017

Mortgage Loans Held for Sale and Investment [Abstract]

Schedule of Mortgage Loans Held-for-Sale

The total UPB of mortgage loans held for sale on nonaccrual status was as follows for the dates indicated.



	September 30, 2017				December 31, 2016
Mortgage Loans Held for Sale - Unpaid Principal Balance	UPB		Fair Value		UPB		Fair Value
Non-accrual	$	81	$	78	$	106	$	103

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



	September 30, 2017		December 31, 2016
Mortgage loans held for sale – unpaid principal balance	$	1,592	$	1,759
Mark-to-market adjustment⁽¹⁾	54		29
Total mortgage loans held for sale	$	1,646	$	1,788

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

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

The following table details a roll forward of the change in the account balance of mortgage loans held for sale.



	Nine months ended September 30,
Mortgage loans held for sale	2017			2016
Balance - beginning of period	$	1,788		$	1,430
Mortgage loans originated and purchased, net of fees	13,988			14,977
Loans sold	(15,107		)	(15,743		)
Repurchase of loans out of Ginnie Mae securitizations	943			1,138
Transfer of mortgage loans held for sale to advances/accounts receivable related to claims⁽¹⁾	(16		)	(16		)
Net transfer of mortgage loans held for sale from REO in other assets⁽²⁾	20			9
Changes in fair value	16			14
Other purchase-related activities⁽³⁾	14			30
Balance - end of period	$	1,646		$	1,839

⁽¹⁾Amounts are comprised of claims made on certain government insured mortgage loans upon completion of the REO sale.

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

Schedule of Loans Held for Investment

The following sets forth the composition of mortgage loans held for investment, net.



	September 30, 2017			December 31, 2016
Mortgage loans held for investment, net – UPB	$	198		$	216
Transfer discount:
Non-accretable	(43		)	(52		)
Accretable	(12		)	(13		)
Total mortgage loans held for investment, net	$	143		$	151

Changes in Accretable Yield on Mortgage Loans Held for Investment

The changes in accretable yield discount on loans transferred to mortgage loans held for investment are set forth below.



	Nine months ended September 30,
Accretable Yield Discount	2017			2016
Balance - beginning of the period	$	(13	)	$	(15	)
Accretion	2			2
Reclassifications from non-accretable discount	(1		)	(1		)
Balance - end of the period	$	(12	)	$	(14	)

Other Assets (Tables)

9 Months Ended

Sep. 30, 2017

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

Schedule of Other Assets

Other assets consist of the following.



	September 30, 2017		December 31, 2016
Accrued revenues	$	152	$	165
Loans subject to repurchase right from Ginnie Mae	143		152
Goodwill	72		74
Prepaid expenses	28		16
Deposits	22		25
Real estate owned (REO), net	21		30
Intangible assets	20		28
Receivables from affiliates, net	6		6
Other	83		64
Total other assets	$	547	$	560

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2017

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).



	Expiration Dates	Outstanding Notional		Fair Value		Recorded Gains / (Losses)
Nine months ended September 30, 2017
Assets
Mortgage loans held for sale, net
Loan sale commitments⁽¹⁾	2017	$	1	$	0.1	$	—
Derivative financial instruments
IRLCs	2017	2,531		68.7		(23.5		)
Forward sales of MBS	2017	2,524		4.7		(34.5		)
LPCs	2017	132		1.0		(0.9		)
Treasury futures	2017	255		2.0		2.0
Eurodollar futures⁽¹⁾	2017-2021	11		—		—
Interest rate swaps⁽¹⁾	2017	—		—		(0.1		)
Liabilities
Derivative financial instruments
IRLCs⁽¹⁾	2017	7		—		1.1
Forward sales of MBS	2017	1,137		3.2		6.8
LPCs	2017	335		1.2		0.3
Treasury futures	2017	479		2.0		(2.0		)
Eurodollar futures⁽¹⁾	2017-2021	45		—		—
Interest rate swaps⁽¹⁾	2017	—		—		0.1

Year ended December 31, 2016
Assets
Mortgage loans held for sale
Loan sale commitments	2017	$	1	$	0.1	$	(0.2	)
Derivative financial instruments
IRLCs	2017	3,675		92.2		3.1
Forward sales of MBS	2017	2,580		39.2		33.1
LPCs	2017	203		1.9		(2.0		)
Eurodollar futures⁽¹⁾	2017-2021	35		—		(0.1		)
Interest rate swaps	2017	9		0.1		(0.4		)
Liabilities
Derivative financial instruments
IRLCs	2017	176		1.1		(1.1		)
Forward sales of MBS	2017	1,689		10.0		(6.3		)
LPCs⁽¹⁾	2017	111		1.5		—
Eurodollar futures⁽¹⁾	2017-2021	27		—		0.1
Interest rate swaps	2017	9		0.1		0.4

⁽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, 2017

Debt Disclosure [Abstract]

Schedule of Notes Payable

Notes Payable



						September 30, 2017					December 31, 2016
Advance Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding			Collateral Pledged		Outstanding			Collateral pledged
Nationstar agency advance receivables trust	LIBOR+2.0% to 2.6%	November 2017⁽¹⁾	Servicing advance receivables	$	650	$	440		$	503	$	485		$	578
Nationstar mortgage advance receivable trust	LIBOR+1.4% to 6.5%	November 2018	Servicing advance receivables	500		163			286		260			301
Nationstar agency advance financing facility	LIBOR+1.0% to 7.4%	January 2018	Servicing advance receivables	200		101			145		164			186
MBS servicer advance facility (2014)	LIBOR+3.5%	October 2018	Servicing advance receivables	125		38			131		88			142
MBS advance financing facility	LIBOR+2.5%	March 2018	Servicing advance receivables	80		56			56		55			60
MBS advance financing facility (2012)⁽²⁾	LIBOR+5.0%	January 2017	Servicing advance receivables	—		—			—		44			52
Advance facilities principal amount						798			1,121		1,096			1,319
Unamortized debt issuance costs						(1		)	—		—			—
Advance facilities, net						$	797		$	1,121	$	1,096		$	1,319

						September 30, 2017					December 31, 2016
Warehouse Facilities	Interest Rate	Maturity Date	Collateral	Capacity Amount		Outstanding			Collateral Pledged		Outstanding			Collateral pledged
$1,200 warehouse facility	LIBOR+2.0% to 2.9%	October 2018	Mortgage loans or MBS	$	1,200	$	719		$	762	$	682		$	747
$1,000 warehouse facility	LIBOR+2.1% to 2.4%	September 2018	Mortgage loans or MBS	1,000		317			325		250			256
$750 warehouse facility	LIBOR+2.0% to 2.8%	November 2017⁽¹⁾	Mortgage loans or MBS	750		514			555		410			415
$500 warehouse facility	LIBOR+1.8% to 2.8%	September 2018	Mortgage loans or MBS	500		221			226		229			237
$500 warehouse facility	LIBOR+1.8% to 3.3%	June 2018	Mortgage loans or MBS	500		384			417		496			539
$350 warehouse facility	LIBOR+2.5% to 2.8%	April 2018	Mortgage loans or MBS	350		186			202		12			13
$450 warehouse facility	LIBOR+2.5% to 2.6%	November 2017⁽¹⁾	Mortgage loans or MBS	450		281			292		173			189
$300 warehouse facility	LIBOR+2.3%	January 2018	Mortgage loans or MBS	300		127			152		153			180
$200 warehouse facility	LIBOR+1.5%	April 2019	Mortgage loans or MBS	200		22			23		7			8
$40 warehouse facility	LIBOR+3.0%	December 2017	Mortgage loans or MBS	40		4			6		11			18
Warehouse facilities principal amount						2,775			2,960		2,423			2,602
Unamortized debt issuance costs						(1		)	—		(2		)	—
Warehouse facilities, net						$	2,774		$	2,960	$	2,421		$	2,602

Pledged Collateral:
Mortgage loans, net						$	1,602		$	1,692	$	1,693		$	1,427
Reverse mortgage interests, net						1,173			1,268		730			834
MSR and other collateral						—			—		—			341

⁽¹⁾This facility has not matured as of the date this report is filed.
⁽²⁾This MBS Advance Financing facility was paid off in full in February 2017.

The Company entered into two new warehouse facility agreements in the third quarter of 2017 with a total capacity amount of $200. As of September 30, 2017, the Company has not borrowed or pledged any collateral against these facilities.

Schedule of Unsecured Senior Notes

A summary of the balances of unsecured senior notes is presented below.



	September 30, 2017			December 31, 2016
$600 face value, 6.500% interest rate payable semi-annually, due July 2021	$	594		$	595
$400 face value, 7.875% interest rate payable semi-annually, due October 2020	397			400
$475 face value, 6.500% interest rate payable semi-annually, due August 2018	364			461
$375 face value, 9.625% interest rate payable semi-annually, due May 2019	324			345
$300 face value, 6.500% interest rate payable semi-annually, due June 2022	206			206
Unsecured senior notes principal amount	1,885			2,007
Unamortized debt issuance costs	(12		)	(17		)
Unsecured senior notes, net	$	1,873		$	1,990

Schedule of Maturities of Long-term Debt

As of September 30, 2017, the expected maturities of Nationstar's unsecured senior notes based on contractual maturities are as follows.



Year ending December 31,	Amount
2017	$	—
2018	364
2019	324
2020	397
2021	594
Thereafter	206
Unsecured senior notes principal amount	1,885
Unamortized debt issuance costs	(12		)
Unsecured senior notes, net	$	1,873

Schedule of Other Nonrecourse Debt

A summary of the balances of other nonrecourse debt is presented below.



						September 30, 2017			December 31, 2016
	Issue Date	Maturity Date	Class of Note	Securitized Amount		Outstanding			Outstanding
Participating Interest Financing⁽¹⁾	—	—	—	$	—	$	7,640		$	8,914
Securitization of nonperforming HECM loans
Trust 2015-2	November 2015	November 2025	A, M1, M2	—		—			114
Trust 2016-1	March 2016	February 2026	A, M1, M2	—		—			194
Trust 2016-2	June 2016	June 2026	A, M1, M2	132		105			158
Trust 2016-3	August 2016	August 2026	A, M1, M2	183		153			208
Trust 2017-1	May 2017	May 2027	A, M1, M2	268		240			—
Trust 2017-2	September 2017	September 2027	A, M1, M2	399		399			—
Nonrecourse debt - legacy assets	November 2009	October 2039	A	133		39			50
Other nonrecourse debt principal amount						8,576			9,638
Unamortized debt issuance costs						(7		)	(7		)
Other nonrecourse debt, net						$	8,569		$	9,631

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

Payables and Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2017

Payables and Accruals [Abstract]

Schedule of Payables and Accrued Liabilities

Payables and accrued liabilities consist of the following.



	September 30, 2017		December 31, 2016
Payables to servicing and subservicing investors	$	572	$	655
Loans subject to repurchase from Ginnie Mae	143		152
Accounts payable and other accrued liabilities	89		178
Accrued bonus and payroll	78		95
Accrued interest	64		65
Payable to insurance carriers and insurance cancellation reserves	60		73
Professional and legal	54		47
Payable to GSEs and securitized trusts	53		58
Lease obligations	28		24
Taxes	21		84
Repurchase reserves	15		18
MSR purchases payable including advances	11		21
Total payables and accrued liabilities	$	1,188	$	1,470

Schedule of Loans Subject to Repurchase Reserve

The activity of the outstanding repurchase reserves is set forth below.



	Three months ended September 30,						Nine months ended September 30,
Repurchase Reserves	2017			2016			2017			2016
Balance - beginning of period	$	14		$	26		$	18		$	26
Provision, net of release	2			—			(1		)	1
Charge-offs	(1		)	(1		)	(2		)	(2		)
Balance - end of period	$	15		$	25		$	15		$	25

Securitizations and Financings (Tables)

9 Months Ended

Sep. 30, 2017

Variable Interest Entities and Securitizations [Abstract]

Schedule of Assets and Liabilities of VIEs Included in Financial Statements

A summary of the outstanding collateral and certificate balances for securitization trusts for which Nationstar was the transferor, including any retained beneficial interests and MSRs, that were not consolidated by Nationstar for the dates indicated as follows.



	September 30, 2017		December 31, 2016
Total collateral balances	$	2,373	$	2,704
Total certificate balances	$	2,214	$	2,455

A summary of mortgage loans transferred by Nationstar to unconsolidated securitization trusts that are 60 days or more past due and the credit losses incurred in the unconsolidated securitization trusts are presented below:



Principal Amount of Loans 60 Days or More Past Due	September 30, 2017		December 31, 2016
Unconsolidated securitization trusts	$	430	$	548

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



	September 30, 2017				December 31, 2016
	Transfers Accounted for as Secured Borrowings		Reverse Secured Borrowings		Transfers Accounted for as Secured Borrowings		Reverse Secured Borrowings
Assets
Restricted cash	$	121	$	25	$	190	$	37
Reverse mortgage interests, net	—		8,515		—		9,557
Advances and other receivables, net	934		—		1,065		—
Mortgage loans held for investment, net	142		—		150		—
Other assets	2		—		4		—
Total assets	$	1,199	$	8,540	$	1,409	$	9,594
Liabilities
Advance facilities⁽¹⁾	$	704	$	—	$	909	$	—
Payables and accrued liabilities	1		—		1		—
Participating interest financing⁽²⁾	—		7,573		—		8,840
HECM Securitizations (HMBS)
Trust 2015-2	—		—		—		114
Trust 2016-1	—		—		—		194
Trust 2016-2	—		105		—		158
Trust 2016-3	—		153		—		208
Trust 2017-1	—		240		—		—
Trust 2017-2	—		399		—		—
Nonrecourse debt–legacy assets	39		—		50		—
Total liabilities	$	744	$	8,470	$	960	$	9,514

⁽¹⁾Advance facilities 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 8, Indebtedness for additional information.

⁽²⁾Participating interest financing excludes premiums.

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) on continuing operations were as follows.



	Three months ended September 30,						Nine months ended September 30,
	2017			2016			2017			2016
Income tax expense (benefit)	$	5		$	29		$	(4	)	$	(106	)

Effective tax rate	37.1		%	40.6		%	29.1		%	36.8		%

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

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 Nationstar’s financial instruments and other assets and liabilities measured at fair value on a recurring basis.



	September 30, 2017
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans held for sale⁽¹⁾	$	1,645.7	$	—	$	1,645.7	$	—
Mortgage servicing rights⁽¹⁾	2,956.1		—		—		2,956.1
Derivative financial instruments
IRLCs	68.7		—		68.7		—
Forward MBS trades	4.7		—		4.7		—
LPCs	1.0		—		1.0		—
Treasury futures	2.0		—		2.0		—
Total assets	$	4,678.2	$	—	$	1,722.1	$	2,956.1
Liabilities
Derivative financial instruments
Forward MBS trades	$	3.2	$	—	$	3.2	$	—
LPCs	1.2		—		1.2		—
Treasury futures	2.0		—		2.0		—
Mortgage servicing rights financing	20.5		—		—		20.5
Excess spread financing	1,045.6		—		—		1,045.6
Total liabilities	$	1,072.5	$	—	$	6.4	$	1,066.1



	December 31, 2016
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans held for sale⁽¹⁾	$	1,788.0	$	—	$	1,788.0	$	—
Mortgage servicing rights⁽¹⁾	3,160.0		—		—		3,160.0
Derivative financial instruments
IRLCs	92.2		—		92.2		—
Forward MBS trades	39.2		—		39.2		—
LPCs	1.9		—		1.9		—
Interest rate swaps and caps	0.1		—		0.1		—
Total assets	$	5,081.4	$	—	$	1,921.4	$	3,160.0
Liabilities
Derivative financial instruments
IRLCs	$	1.1	$	—	$	1.1	$	—
Forward MBS trades	10.0		—		10.0		—
LPCs	1.5		—		1.5		—
Interest rate swaps and caps	0.1		—		0.1		—
Mortgage servicing rights financing	27.0		—		—		27.0
Excess spread financing	1,214.0		—		—		1,214.0
Total liabilities	$	1,253.7	$	—	$	12.7	$	1,241.0

⁽¹⁾Based on the nature and risks of the underlying assets and liabilities, the fair value is presented for the aggregate account.

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

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



	Assets			Liabilities
	Mortgage servicing rights			Excess spread financing			Mortgage servicing rights financing
Nine months ended September 30, 2017
Balance - beginning of period	$	3,160		$	1,214		$	27
Total gains or losses included in earnings	(361		)	—			(7		)
Purchases, issuances, sales and settlements:
Purchases	30			—			—
Issuances	151			—			—
Sales	(24		)	—			—
Settlements	—			(168		)	—
Balance - end of period	$	2,956		$	1,046		$	20



	Assets			Liabilities
	Mortgage servicing rights			Excess spread financing			Mortgage servicing rights financing
Year ended December 31, 2016
Balance - beginning of period	$	3,358		$	1,232		$	69
Total gains or losses included in earnings	(496		)	25			(42		)
Purchases, issuances, sales and settlements:
Purchases	157			—			—
Issuances	208			155			—
Sales	(67		)	—			—
Settlements	—			(198		)	—
Balance - end of period	$	3,160		$	1,214		$	27

Fair Value, by Balance Sheet Grouping

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



	September 30, 2017
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	224	$	224	$	—	$	—
Restricted cash	356		356		—		—
Advances and other receivables, net	1,625		—		—		1,625
Reverse mortgage interests, net	10,299		—		—		10,539
Mortgage loans held for sale	1,646		—		1,646		—
Mortgage loans held for investment, net	143		—		—		143
Derivative financial instruments	76		—		76		—
Financial liabilities
Unsecured senior notes	1,885		1,920		—		—
Advance facilities	798		—		798		—
Warehouse facilities	2,775		—		2,775		—
Mortgage servicing rights financing liability	20		—		—		20
Derivative financial instruments	7		—		7		—
Excess spread financing	1,046		—		—		1,046
Participating interest financing	7,640		—		7,840		—
HECM Securitization (HMBS)
Trust 2016-2	105		—		—		121
Trust 2016-3	153		—		—		170
Trust 2017-1	240		—		—		252
Trust 2017-2	399		—		—		400
Nonrecourse debt - legacy assets	39		—		—		38
	December 31, 2016
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets
Cash and cash equivalents	$	489	$	489	$	—	$	—
Restricted cash	388		388		—		—
Advances and other receivables, net	1,749		—		—		1,749
Reverse mortgage interests, net	11,033		—		—		11,232
Mortgage loans held for sale	1,788		—		1,788		—
Mortgage loans held for investment, net	151		—		—		153
Derivative financial instruments	133		—		133		—
Financial liabilities
Unsecured senior notes	2,007		2,047		—		—
Advance facilities	1,096		—		1,096		—
Warehouse facilities	2,423		—		2,423		—
Mortgage servicing rights financing liability	27		—		—		27
Excess spread financing	1,214		—		—		1,214
Derivative financial instruments	13		—		13		—
Participating interest financing	8,914		—		9,151		—
HECM Securitization (HMBS)
Trust 2015-2	114		—		—		125
Trust 2016-1	194		—		—		203
Trust 2016-2	158		—		—		156
Trust 2016-3	208		—		—		205
Nonrecourse debt - legacy assets	50		—		—		50

Business Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables present financial information by segment.



	Three months ended September 30, 2017
	Servicing			Originations			Xome		Eliminations			Total Operating Segments			Corporate and Other			Consolidated
Revenues:
Service related, net	$	191		$	16		$	65	$	(20	)	$	252		$	—		$	252
Net gain on mortgage loans held for sale	—			134			—		20			154			—			154
Total revenues	191			150			65		—			406			—			406
Total Expenses	185			106			54		—			345			23			368
Other income (expenses):
Interest income	141			14			—		—			155			2			157
Interest expense	(130		)	(13		)	—		—			(143		)	(38		)	(181		)
Other	(2		)	—			—		—			(2		)	—			(2		)
Total Other Income (expenses), net	9			1			—		—			10			(36		)	(26		)
Income (loss) before income tax expense (benefit)	$	15		$	45		$	11	$	—		$	71		$	(59	)	$	12
Depreciation and amortization	$	6		$	3		$	3	$	—		$	12		$	3		$	15
Total assets	15,147			4,644			382		(2,948		)	17,225			779			18,004



	Three months ended September 30, 2016⁽¹⁾
	Servicing			Originations			Xome		Eliminations			Total Operating Segments			Corporate and Other			Consolidated
Revenues
Service related, net	$	211		$	16		$	107	$	(23	)	$	311		$	(1	)	$	310
Net gain on mortgage loans held for sale	—			208			—		23			231			1			232
Total revenues	211			224			107		—			542			—			542
Total Expenses	150			141			87		—			378			29			407
Other income (expenses)
Interest income	82			17			—		—			99			4			103
Interest expense	(108		)	(16		)	—		—			(124		)	(41		)	(165		)
Other	—			(1		)	—		—			(1		)	(1		)	(2		)
Total Other Income (expenses), net	(26		)	—			—		—			(26		)	(38		)	(64		)
Income (loss) before income tax expense (benefit)	$	35		$	83		$	20	$	—		$	138		$	(67	)	$	71
Depreciation and amortization	$	6		$	3		$	4	$	—		$	13		$	4		$	17
Total assets	12,250			4,523			345		(2,432		)	14,686			1,160			15,846

⁽¹⁾ The Company periodically evaluates corporate allocation methods in order to appropriately align corporate costs with its business. Certain 2016 costs within salaries, wages and benefits and operational expenses were reclassified between segments to conform to current year allocation methods.



	Nine months ended September 30, 2017
	Servicing			Originations			Xome		Eliminations			Total Operating Segments			Corporate and Other			Consolidated
Revenues
Service related, net	$	537		$	47		$	226	$	(63	)	$	747		$	1		$	748
Net gain on mortgage loans held for sale	—			402			—		63			465			—			465
Total revenues	537			449			226		—			1,212			1			1,213
Total Expenses	518			326			193		—			1,037			72			1,109
Other income (expenses)
Interest income	384			39			—		—			423			12			435
Interest expense	(402		)	(39		)	—		—			(441		)	(116		)	(557		)
Other	(2		)	—			8		—			6			(2		)	4
Total Other Income (expenses), net	(20		)	—			8		—			(12		)	(106		)	(118		)
Income (loss) before income tax expense (benefit)	$	(1	)	$	123		$	41	$	—		$	163		$	(177	)	$	(14	)
Depreciation and amortization	$	16		$	8		$	10	$	—		$	34		$	10		$	44
Total assets	15,147			4,644			382		(2,948		)	17,225			779			18,004



	Nine months ended September 30, 2016⁽¹⁾
	Servicing			Originations			Xome		Eliminations			Total Operating Segments			Corporate and Other			Consolidated
Revenues
Service related, net	$	225		$	47		$	327	$	(93	)	$	506		$	1		$	507
Net gain on mortgage loans held for sale	—			526			—		93			619			—			619
Total revenues	225			573			327		—			1,125			1			1,126
Total Expenses	477			394			274		—			1,145			87			1,232
Other income (expenses)
Interest income	254			48			—		—			302			11			313
Interest expense	(325		)	(44		)	—		—			(369		)	(124		)	(493		)
Other	—			(1		)	—		—			(1		)	(1		)	(2		)
Total Other Income (expenses), net	(71		)	3			—		—			(68		)	(114		)	(182		)
Income (loss) before income tax expense (benefit)	$	(323	)	$	182		$	53	$	—		$	(88	)	$	(200	)	$	(288	)
Depreciation and amortization	$	17		$	9		$	16	$	—		$	42		$	6		$	48
Total assets	12,250			4,523			345		(2,432		)	14,686			1,160			15,846

⁽¹⁾ The Company periodically evaluates corporate allocation methods in order to appropriately align corporate costs with its business. Certain 2016 costs within salaries, wages and benefits and operational expenses were reclassified between segments to conform to current year allocation methods.

Guarantor Financial Statement Information (Tables)

9 Months Ended

Sep. 30, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Consolidating Balance Sheet

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING BALANCE SHEET SEPTEMBER 30, 2017

	Nationstar		Issuer⁽¹⁾		Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—	$	201	$	1	$	22	$	—		$	224
Restricted cash	—		211		—		145		—			356
Mortgage servicing rights	—		2,931		—		30		—			2,961
Advances and other receivables, net	—		1,625		—		—		—			1,625
Reverse mortgage interests, net	—		9,357		—		942		—			10,299
Mortgage loans held for sale at fair value	—		1,646		—		—		—			1,646
Mortgage loans held for investment, net	—		1		—		142		—			143
Property and equipment, net	—		108		—		19		—			127
Derivative financial instruments at fair value	—		76		—		—		—			76
Other assets	—		445		177		731		(806		)	547
Investment in subsidiaries	1,801		507		—		—		(2,308		)	—
Total assets	$	1,801	$	17,108	$	178	$	2,031	$	(3,114	)	$	18,004
Liabilities and Stockholders' Equity
Unsecured senior notes	$	—	$	1,873	$	—	$	—	$	—		$	1,873
Advance facilities, net	—		93		—		704		—			797
Warehouse facilities, net	—		2,774		—		—		—			2,774
Payables and accrued liabilities	—		1,149		2		37		—			1,188
MSR related liabilities - nonrecourse at fair value	—		1,046		—		20		—			1,066
Mortgage servicing liabilities	—		53		—		—		—			53
Derivative financial instruments, at fair value	—		7		—		—		—			7
Other nonrecourse debt, net	—		7,632		—		937		—			8,569
Payables to affiliates	124		680		—		2		(806		)	—
Total liabilities	124		15,307		2		1,700		(806		)	16,327
Total stockholders' equity	1,677		1,801		176		331		(2,308		)	1,677
Total liabilities and stockholders' equity	$	1,801	$	17,108	$	178	$	2,031	$	(3,114	)	$	18,004

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2016

	Nationstar		Issuer⁽¹⁾		Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—	$	453	$	2	$	34	$	—		$	489
Restricted cash	—		159		—		229		—			388
Mortgage servicing rights	—		3,142		—		24		—			3,166
Advances and other receivables, net	—		1,749		—		—		—			1,749
Reverse mortgage interests, net	—		10,316		—		717		—			11,033
Mortgage loans held for sale at fair value	—		1,787		—		1		—			1,788
Mortgage loans held for investment, net	—		1		—		150		—			151
Property and equipment, net	—		113		—		23		—			136
Derivative financial instruments at fair value	—		133		—		—		—			133
Other assets	—		444		323		838		(1,045		)	560
Investment in subsidiaries	1,801		634		—		—		(2,435		)	—
Total assets	$	1,801	$	18,931	$	325	$	2,016	$	(3,480	)	$	19,593
Liabilities and stockholders' equity
Unsecured senior notes	$	—	$	1,990	$	—	$	—	$	—		$	1,990
Advance facilities, net	—		187		—		909		—			1,096
Warehouse facilities, net	—		2,421		—		—		—			2,421
Payables and accrued liabilities	—		1,420		2		48		—			1,470
MSR related liabilities - nonrecourse at fair value	—		1,219		—		22		—			1,241
Mortgage servicing liabilities	—		48		—		—		—			48
Derivative financial instruments, at fair value	—		13		—		—		—			13
Other nonrecourse debt, net	—		8,907		—		724		—			9,631
Payables to affiliates	118		925		—		2		(1,045		)	—
Total liabilities	118		17,130		2		1,705		(1,045		)	17,910
Total stockholders' equity	1,683		1,801		323		311		(2,435		)	1,683
Total liabilities and stockholders' equity	$	1,801	$	18,931	$	325	$	2,016	$	(3,480	)	$	19,593

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

Consolidating Statement of Operations

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2017

	Nationstar		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—	$	181		$	7	$	64		$	—		$	252
Net gain on mortgage loans held for sale	—		153			—		1			—			154
Total revenues	—		334			7		65			—			406
Expenses:
Salaries, wages benefits	—		153			1		29			—			183
General and administrative	—		154			4		27			—			185
Total expenses	—		307			5		56			—			368
Other income (expenses):
Interest income	—		145			—		12			—			157
Interest expense	—		(168		)	—		(13		)	—			(181		)
Other income (expense)	—		(3		)	—		1			—			(2		)
Gain (loss) from subsidiaries	7		11			—		—			(18		)	—
Total other income (expenses), net	7		(15		)	—		—			(18		)	(26		)
Income (loss) before income tax expense (benefit)	7		12			2		9			(18		)	12
Less: Income tax expense	—		5			—		—			—			5
Net income (loss)	7		7			2		9			(18		)	7
Less: Net income attributable to noncontrolling interests	—		—			—		—			—			—
Net income (loss) attributable to Nationstar	$	7	$	7		$	2	$	9		$	(18	)	$	7

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SPETEMBER 30, 2017

	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—		$	497		$	21	$	230		$	—		$	748
Net gain on mortgage loans held for sale	—			464			—		1			—			465
Total revenues	—			961			21		231			—			1,213
Expenses:
Salaries, wages benefits	—			451			3		103			—			557
General and administrative	—			440			10		102			—			552
Total expenses	—			891			13		205			—			1,109
Other income (expenses):
Interest income	—			396			—		39			—			435
Interest expense	—			(515		)	—		(42		)	—			(557		)
Other income (expense)	—			(5		)	—		9			—			4
Gain (loss) from subsidiaries	(11		)	40			—		—			(29		)	—
Total other income (expenses), net	(11		)	(84		)	—		6			(29		)	(118		)
Income (loss) before income tax expense (benefit)	(11		)	(14		)	8		32			(29		)	(14		)
Less: Income tax expense	—			(4		)	—		—			—			(4		)
Net income (loss)	(11		)	(10		)	8		32			(29		)	(10		)
Less: Net income attributable to noncontrolling interests	—			1			—		—			—			1
Net income (loss) attributable to Nationstar	$	(11	)	$	(11	)	$	8	$	32		$	(29	)	$	(11	)

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2016

	Nationstar		Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Revenues:
Service related, net	$	—	$	196		$	5	$	109		$	—		$	310
Net gain on mortgage loans held for sale	—		222			—		10			—			232
Total revenues	—		418			5		119			—			542
Expenses:
Salaries, wages and benefits	—		156			1		54			—			211
General and administrative	—		143			2		51			—			196
Total expenses	—		299			3		105			—			407
Other income (expenses):
Interest income	—		91			—		12			—			103
Interest expense	—		(146		)	—		(19		)	—			(165		)
Other expense	—		(2		)	—		—			—			(2		)
Gain (loss) from subsidiaries	45		9			—		—			(54		)	—
Total other income (expenses), net	45		(48		)	—		(7		)	(54		)	(64		)
Income (loss) before income tax expense (benefit)	45		71			2		7			(54		)	71
Less: Income tax (benefit)	—		29			—		—			—			29
Net income (loss)	45		42			2		7			(54		)	42
Less: Net loss attributable to noncontrolling interests	—		(3		)	—		—			—			(3		)
Net income (loss) attributable to Nationstar	$	45	$	45		$	2	$	7		$	(54	)	$	45

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2016

	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Revenues:
Service related, net	$	—		$	156		$	19	$	332		$	—	$	507
Net gain on mortgage loans held for sale	—			590			—		29			—		619
Total revenues	—			746			19		361			—		1,126
Expenses:
Salaries, wages benefits	—			448			3		162			—		613
General and administrative	—			453			6		160			—		619
Total expenses	—			901			9		322			—		1,232
Other income (expenses):
Interest income	—			276			—		37			—		313
Interest expense	—			(437		)	—		(56		)	—		(493		)
Other expense	—			(2		)	—		—			—		(2		)
Gain (loss) from subsidiaries	(179		)	30			—		—			149		—
Total other income (expenses), net	(179		)	(133		)	—		(19		)	149		(182		)
Income (loss) before income tax expense (benefit)	(179		)	(288		)	10		20			149		(288		)
Less: Income tax expense	—			(106		)	—		—			—		(106		)
Net income (loss)	(179		)	(182		)	10		20			149		(182		)
Less: Net loss attributable to noncontrolling interests	—			(3		)	—		—			—		(3		)
Net income (loss) attributable to Nationstar	$	(179	)	$	(179	)	$	10	$	20		$	149	$	(179	)

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

Consolidating Statement of Cash Flows

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2016

	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net income (loss) attributable to Nationstar	$	(179	)	$	(179	)	$	10		$	20		$	149		$	(179	)
Reconciliation of net income (loss) to net cash attributable to operating activities:
(Gain)/loss from subsidiaries	179			(30		)	—			—			(149		)	—
Net loss attributable to non-controlling interest	—			(3		)	—			—			—			(3		)
Net gain on mortgage loans held for sale	—			(590		)	—			(29		)	—			(619		)
Reverse mortgage loan interest income	—			(251		)	—			—			—			(251		)
Loss on sale of assets	—			2			—			—			—			2
Provision for servicing reserves	—			101			—			—			—			101
Fair value changes and amortization of mortgage servicing rights	—			778			—			—			—			778
Fair value changes in excess spread financing	—			(74		)	—			—			—			(74		)
Fair value changes in mortgage servicing rights financing liability	—			(2		)	—			—			—			(2		)
Amortization of premiums and accretion of discount	—			(7,254		)	—			7,302			—			48
Depreciation and amortization	—			32			—			16			—			48
Share-based compensation	—			13			—			5			—			18
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(1,138		)	—			—			—			(1,138		)
Repurchases of reverse loans assets out of Ginnie Mae securitizations, net of assignments to prior servicers	—			(1,609		)	—			—			—			(1,609		)
Mortgage loans originated and purchased, net of fees, and other purchase-related activities	—			(14,296		)	—			(767		)	—			(15,063		)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			22,684			—			(6,416		)	—			16,268
Excess tax benefit from share based compensation	—			4			—			—			—			4
Changes in assets and liabilities:
Advances and other receivables, net	—			504			—			—			—			504
Reverse mortgage interests, net	—			2,137			—			(115		)	—			2,022
Other assets	117			(682		)	(10		)	439			—			(136		)
Payables and accrued liabilities	—			(135		)	—			(4		)	—			(139		)
Net cash attributable to operating activities	117			12			—			451			—			580

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2016 (Continued)

	Nationstar			Issuer(1)			Guarantor (Subsidiaries of Issuer)		Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing Activities
Property and equipment additions, net of disposals	—			(40		)	—		(9		)	—		(49		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—			(36		)	—		—			—		(36		)
Proceeds on sale of forward and reverse mortgage servicing rights	—			25			—		—			—		25
Net cash attributable to investing activities	—			(51		)	—		(9		)	—		(60		)
Financing Activities
Increase in warehouse facilities	—			774			—		(56		)	—		718
Decrease in advance facilities	—			(29		)	—		(429		)	—		(458		)
Proceeds from issuance of HECM securitizations	—			(4		)	—		728			—		724
Repayment of HECM securitizations	—			—			—		(624		)	—		(624		)
Proceeds from issuance of participating interest financing in reverse mortgage interests, net	—			337			—		—			—		337
Repayment of participating interest financing in reverse mortgage interests, net	—			(817		)	—		—			—		(817		)
Repayment of excess spread financing	—			(146		)	—		—			—		(146		)
Repayment of nonrecourse debt - legacy assets	—			1			—		(13		)	—		(12		)
Repurchase of unsecured senior notes	—			(29		)	—		—			—		(29		)
Repurchase of common stock	(114		)	—			—		—			—		(114		)
Transfers to restricted cash, net	—			33			—		(33		)	—		—
Excess tax deficiency from share based compensation	—			(4		)	—		—			—		(4		)
Surrender of shares relating to stock vesting	(3		)	—			—		—			—		(3		)
Debt financing costs	—			(10		)	—		—			—		(10		)
Net cash attributable to financing activities	(117		)	106			—		(427		)	—		(438		)
Net increase in cash and cash equivalents	—			67			—		15			—		82
Cash and cash equivalents - beginning of period	—			597			1		15			—		613
Cash and cash equivalents - end of period	$	—		$	664		$	1	$	30		$	—	$	695

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2017

	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations			Consolidated
Operating Activities
Net income (loss) attributable to Nationstar	$	(11	)	$	(11	)	$	8		$	32		$	(29	)	$	(11	)
Reconciliation of net income (loss) to net cash attributable to operating activities:
(Gain) loss from subsidiaries	11			(40		)	—			—			29			—
Net income attributable to non-controlling interest	—			1			—			—			—			1
Net gain on mortgage loans held for sale	—			(464		)	—			(1		)	—			(465		)
Reverse mortgage loan interest income	—			(368		)	—			—			—			(368		)
(Gain) loss on sale of assets	—			1			—			(9		)	—			(8		)
Provision for servicing reserves	—			113			—			—			—			113
Fair value changes and amortization of mortgage servicing rights	—			361			—			—			—			361
Fair value changes in excess spread financing	—			2			—			(2		)	—			—
Fair value change in mortgage servicing rights financing liability	—			(7		)	—			—			—			(7		)
Amortization of premiums and accretion of discount	—			55			—			8			—			63
Depreciation and amortization	—			33			—			11			—			44
Share-based compensation	—			9			—			4			—			13
Other losses	—			5			—			—			—			5
Repurchases of forward loans assets out of Ginnie Mae securitizations	—			(943		)	—			—			—			(943		)
Repurchases of reverse loan assets out of Ginnie Mae securitizations, net of assignments to prior servicers	—			(2,468		)	—			—			—			(2,468		)
Mortgage loans originated and purchased, net of fees, and other purchase-related activities	—			(14,002		)	—			—			—			(14,002		)
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment	—			15,459			—			13			—			15,472
Excess tax benefit (deficiency) from share based compensation	—			(1		)	—			—			—			(1		)
Changes in assets and liabilities:
Advances and other receivables, net	—			55			—			—			—			55
Reverse mortgage interests, net	—			3,719			—			(225		)	—			3,494
Other assets	4			(99		)	(9		)	87			—			(17		)
Payables and accrued liabilities	—			(273		)	—			(11		)	—			(284		)
Net cash attributable to operating activities	4			1,137			(1		)	(93		)	—			1,047

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

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2017 (Continued)

	Nationstar			Issuer⁽¹⁾			Guarantor (Subsidiaries of Issuer)			Non-Guarantor (Subsidiaries of Issuer)			Eliminations		Consolidated
Investing activities
Property and equipment additions, net of disposals	—			(31		)	—			(3		)	—		(34		)
Purchase of forward mortgage servicing rights, net of liabilities incurred	—			(22		)	—			(6		)	—		(28		)
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables	—			16			—			—			—		16
Proceeds on sale of forward and reverse mortgage servicing rights	—			25			—			—			—		25
Proceeds on sale of assets	—			16			—			—			—		16
Net cash attributable to investing activities	—			4			—			(9		)	—		(5		)
Financing activities
Increase in warehouse facilities	—			351			—			—			—		351
Decrease in advance facilities	—			(93		)	—			(205		)	—		(298		)
Proceeds from HECM securitizations	—			(6		)	—			707			—		701
Repayment of HECM securitizations	—			—			—			(484		)	—		(484		)
Proceeds from issuance of participating interest financing in reverse mortgage interests, net	—			437			—			—			—		437
Repayment of participating interest financing in reverse mortgage interests, net	—			(1,730		)	—			—			—		(1,730		)
Repayment of excess spread financing	—			(168		)	—			—			—		(168		)
Repayment of nonrecourse debt–legacy assets	—			—			—			(12		)	—		(12		)
Repurchase of unsecured senior notes	—			(122		)	—			—			—		(122		)
Transfers (to) from restricted cash, net	—			(46		)	—			84			—		38
Surrender of shares relating to stock vesting	(4		)	—			—			—			—		(4		)
Debt financing costs	—			(11		)	—			—			—		(11		)
Dividends to noncontrolling interests	—			(5		)	—			—			—		(5		)
Net cash attributable to financing activities	(4		)	(1,393		)	—			90			—		(1,307		)
Net decrease in cash and cash equivalents	—			(252		)	(1		)	(12		)	—		(265		)
Cash and cash equivalents - beginning of period	—			453			2			34			—		489
Cash and cash equivalents - end of period	$	—		$	201		$	1		$	22		$	—	$	224

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

Nature of Business and Basis of Presentation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefit from share based compensation	$ (1)	$ 4
Accounting Standards Update 2016-09, Excess Tax Benefit Component
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect on dilutive earnings per share (in dollars per share)	$ 0.01

Mortgage Servicing Rights ("MSRs") and Related Liabilities - MSRs and Related Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Mortgage Servicing Rights [Line Items]
Mortgage servicing rights at fair value	$ 2,956	$ 3,160
Mortgage servicing rights	2,961	3,166
Mortgage servicing liabilities - amortized cost	53	48
Excess spread financing - fair value	1,046	1,214
Mortgage servicing rights financing liability - fair value	20	27
MSR related liabilities (nonrecourse)	1,066	1,241
Mortgage servicing rights
Mortgage Servicing Rights [Line Items]
Mortgage servicing rights at fair value	2,956	3,160
Reverse MSRs - amortized cost	5	6	$ 7	$ 9
Mortgage servicing rights	2,961	3,166
Mortgage servicing liabilities - amortized cost	$ 53	$ 48	$ 11	$ 25

Mortgage Servicing Rights ("MSRs") and Related Liabilities - MSR's at Fair Value (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Aug. 31, 2017	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value - beginning of period			$ 3,160
Fair value - end of period			2,956
Mortgage servicing rights
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value - beginning of period			3,160	$ 3,358
Servicing retained from mortgage loans sold			151	142
Purchases of servicing rights	$ 8		30	39
Sales of servicing assets	$ (26)	$ 2	(24)	(24)
Changes in valuation inputs or assumptions used in the valuation model			(113)	(494)
Other changes in fair value			(248)	(296)
Fair value - end of period			$ 2,956	$ 2,725

Mortgage Servicing Rights ("MSRs") and Related Liabilities - Narrative (Details) - USD ($)	1 Months Ended			3 Months Ended			9 Months Ended
	Sep. 30, 2017	Aug. 31, 2017	Dec. 31, 2016	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Servicing Asset at Amortized Cost [Line Items]
Repayment of excess spread financing		$ (9,000,000)					$ (168,000,000)	$ (146,000,000)
Cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans				$ 20,000,000		$ 27,000,000	69,000,000	85,000,000
Servicing fee income accretion expense				41,000,000		46,000,000	123,000,000	149,000,000
Forward MSRs Sold
Servicing Asset at Amortized Cost [Line Items]
UPB	$ 2,920,000,000			2,920,000,000		4,560,000,000	2,920,000,000	4,560,000,000
Forward MSRs Sold, Subservicing Retained
Servicing Asset at Amortized Cost [Line Items]
UPB	0			0		$ 3,507,000,000	0	3,507,000,000
Reverse Mortgage Servicing Rights
Servicing Asset at Amortized Cost [Line Items]
UPB	36,412,000,000			36,412,000,000			36,412,000,000
Mortgage servicing rights
Servicing Asset at Amortized Cost [Line Items]
UPB	288,450,000,000		$ 312,076,000,000	$ 288,450,000,000			288,450,000,000
Impairment							0
Purchase of servicing rights							0	0
Increased MSL obligation							6,000,000	0
Reverse portfolio
Servicing Asset at Amortized Cost [Line Items]
Purchase of servicing rights	$ 747,000,000		9,305,000,000
Increased MSL obligation			$ 17,000,000
Mortgage servicing rights
Servicing Asset at Amortized Cost [Line Items]
Sales of servicing assets		(26,000,000)			$ 2,000,000		(24,000,000)	(24,000,000)
Purchases of servicing rights		$ 8,000,000					$ 30,000,000	$ 39,000,000

Mortgage Servicing Rights ("MSRs") and Related Liabilities - UPB related to owned MSRs (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Owned Service Loans [Line Items]
Fair Value	$ 2,956	$ 3,160
Mortgage servicing rights
Owned Service Loans [Line Items]
UPB	288,450	312,076
Fair Value	2,956	3,160
Credit sensitive \| Mortgage servicing rights
Owned Service Loans [Line Items]
UPB	174,318	198,935
Fair Value	1,640	1,818
Interest sensitive \| Mortgage servicing rights
Owned Service Loans [Line Items]
UPB	114,132	113,141
Fair Value	$ 1,316	$ 1,342

Mortgage Servicing Rights ("MSRs") and Related Liabilities - Fair Value Assumptions (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Mortgage servicing rights \| Credit sensitive
Assumption for Fair Value of Mortgage Servicing Rights
Discount rate	11.40%	11.60%
Total prepayment speeds	15.40%	15.40%
Expected weighted-average life	5 years 7 months	6 years
Mortgage servicing rights \| Interest sensitive
Assumption for Fair Value of Mortgage Servicing Rights
Discount rate	9.20%	9.30%
Total prepayment speeds	11.30%	10.70%
Expected weighted-average life	6 years 6 months	6 years 9 months 18 days
Excess spread financing \| Low
Assumption for Fair Value of Mortgage Servicing Rights
Prepayment Speeds	6.70%	6.10%
Average Life (Years)	4 years 3 months	4 years 1 month 6 days
Discount Rate	8.50%	8.50%
Recapture Rate	7.10%	6.70%
Excess spread financing \| High
Assumption for Fair Value of Mortgage Servicing Rights
Prepayment Speeds	21.10%	21.20%
Average Life (Years)	6 years 9 months	8 years 6 months
Discount Rate	14.10%	14.10%
Recapture Rate	30.00%	29.80%
Excess spread financing \| Weighted-average
Assumption for Fair Value of Mortgage Servicing Rights
Prepayment Speeds	13.90%	13.90%
Average Life (Years)	5 years 11 months	6 years 3 months 18 days
Discount Rate	10.80%	10.80%
Recapture Rate	18.80%	19.00%
MSR Financing Liability \| Financing rates
Assumption for Fair Value of Mortgage Servicing Rights
Advance financing rates	3.50%	3.20%
MSR Financing Liability \| Recovery rates
Assumption for Fair Value of Mortgage Servicing Rights
Annual advance recovery rates	23.30%	23.90%

Mortgage Servicing Rights ("MSRs") and Related Liabilities - MSR's at Amortized Cost (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)
Servicing Liability at Amortized Value [Roll Forward]
Balance - beginning of period	$ 48
Balance - end of the period	53
Mortgage servicing rights
Servicing Asset at Amortized Value, Balance [Roll Forward]
Balance - beginning of period	6	$ 9
Increase in MSL	0	0
Amortization/accretion	(1)	(2)
Balance - end of the period	5	7
Fair value - end of period	5	25
Servicing Liability at Amortized Value [Roll Forward]
Balance - beginning of period	48	25
Increase in MSL	6	0
Amortization/accretion	(1)	(14)
Balance - end of the period	53	11
Fair value - end of period	$ 9	$ 2

Mortgage Servicing Rights ("MSRs") and Related Liabilities - Fair Value Sensitivity Analysis (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
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	$ (122)	$ (117)
Total Prepayment Speeds, 20% Adverse Change	(235)	(224)
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	36	41
Total Prepayment Speeds, 20% Adverse Change	75	85
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	(106)	(114)
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	39	49
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	(205)	(221)
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	$ 81	$ 101

Mortgage Servicing Rights ("MSRs") and Related Liabilities - Servicing Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Transfers and Servicing [Abstract]
Contractually specified servicing fees	$ 251	$ 254	$ 759	$ 786
Other service-related income	44	67	142	214
Incentive and modification income	19	35	63	82
Late fees	22	20	67	57
Reverse servicing fees	16	11	43	46
Mark-to-market	(48)	(9)	(176)	(502)
Counterparty revenue share	(53)	(75)	(174)	(223)
Amortization, net of accretion	(60)	(92)	(187)	(235)
Total servicing revenue	$ 191	$ 211	$ 537	$ 225

Advances and Other Receivables, Net - Schedule of Accounts Receivable (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Receivables [Abstract]
Servicing advances	$ 1,489	$ 1,614
Receivables from agencies, investors and prior servicers	389	319
Reserves	(253)	(184)
Total advances and other receivables, net	$ 1,625	$ 1,749

Advances and Other Receivables, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cumulative incurred losses related to advances and other receivables associated with inactive and liquidated loans	$ 20	$ 27	$ 69	$ 85
Receivables From Prior Servicers, Forward Loan Portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivables	$ 139		$ 139		$ 94

Advances and Other Receivables, Net - Advances and Other Receivables Roll Forward (Details) - Advances and Other Receivables Reserves - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance - beginning of period	$ 236	$ 238	$ 184	$ 163
Provision and other additions	30	37	106	126
Write-offs	(13)	(95)	(37)	(109)
Balance - end of period	$ 253	$ 180	$ 253	$ 180

Reverse Mortgage Interests, Net - Schedule of Reverse Mortgage Interest (Details) - USD ($) $ in Millions	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Reverse Mortgage Interests [Abstract]
Participating interests in HMBS	$ 7,573		$ 8,839
Other interests securitized	985		753
Unsecuritized interests	1,829		1,572
Reserves	(88)	$ (149)	(131)	$ (93)	$ (71)	$ (53)
Total reverse mortgage interests, net	$ 10,299		$ 11,033

Reverse Mortgage Interests, Net - Narrative (Details) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 01, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB unsecuritized	$ 1,829,000,000	$ 1,572,000,000	$ 1,829,000,000		$ 1,829,000,000
Non-recourse debt	8,569,000,000	9,631,000,000	8,569,000,000		8,569,000,000
Reverse mortgage reserves reclassified			(61,000,000)
Unsecuritized HECM
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest earned on HECM loans			135,000,000	$ 81,000,000	368,000,000	$ 251,000,000
Participating Interests in HMBS
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized	416,000,000		416,000,000		416,000,000
Trust 2017-1 and Trust 2017-2
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB securitized	747,000,000		747,000,000		747,000,000
2015-2 and Trust 2016-1
Accounts, Notes, Loans and Financing Receivable [Line Items]
UPB unsecuritized	307		307		307
Reverse Mortgage Interests, Unsecuritized \| HECM
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repurchase of HECM loans					3,270,000,000	2,270,000,000
Repurchase of HECM loans funded by prior servicer					802,000,000	$ 661,000,000
Ginnie Mae Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchase of servicing assets		3,840,000,000
HECM Loan Portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reverse mortgage interests							$ 3,749,000,000
Non-recourse debt							$ 3,691,000,000
Purchase discount on acquisitions	118,000,000		118,000,000		118,000,000
Purchase discount accreted to interest income					22,000,000
Cash acquired from acquisition	16,000,000	96,000,000
REO advances	10,000,000
Reverse portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchase of servicing assets		17,000,000
Purchase of servicing rights	747,000,000	9,305,000,000
Reverse Loan Portfolio, Servicing And Subservicing Rights
Accounts, Notes, Loans and Financing Receivable [Line Items]
Purchase of servicing rights	505,000,000
Receivables From Prior Servicers, Reverse Mortgage Interests
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivables	$ 19,000,000	$ 38,000,000	$ 19,000,000		$ 19,000,000

Reverse Mortgage Interests, Net - Unsecuritized Interest (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Reverse Mortgage Interest [Abstract]
Repurchased HECM loans	$ 1,407	$ 1,000
HECM related receivables	291	301
Funded borrower draws not yet securitized	113	236
Foreclosed assets	18	35
Total unsecuritized interests	$ 1,829	$ 1,572

Reverse Mortgage Interests, Net - Reserves Roll Forward (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Reverse Mortgage Interests Reserves [Roll Forward]
Reserves for reverse mortgage interests - beginning of period	$ 149	$ 71	$ 131	$ 53
Provision	22	28	44	43
Write-offs	(29)	(7)	(33)	(7)
Other	(54)	1	(54)	4
Reserves for reverse mortgage interests - end of period	$ 88	$ 93	$ 88	$ 93

Mortgage Loans Held for Sale and Investment - Mortgage Loans Held for Sale (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Mortgage Loans Held for Sale and Investment [Abstract]
Mortgage loans held for sale – unpaid principal balance	$ 1,592	$ 1,759
Mark-to-market adjustment	54	29
Total mortgage loans held for sale	1,646	1,788
UPB	81	106
Fair Value	$ 78	$ 103

Mortgage Loans Held for Sale and Investment - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Servicing Assets at Fair Value [Line Items]
Mortgage loans held for sale in foreclosure	$ 63		$ 84
Sale of mortgage loans held for sale	15,470	$ 16,183
Gain on sale of mortgage loans held for sale	363	440
Mortgage loans held for investment in foreclosure	22		$ 29
Ginnie Mae Loans
Servicing Assets at Fair Value [Line Items]
Delinquent loans acquired	236	201
Delinquent loans securitized or sold	253	88
Purchased loans that have re-performed	59	18
Mortgage loans held for investment, net
Servicing Assets at Fair Value [Line Items]
Reclassifications from non-accretable discount	1	1
Provision for reserves	$ 0	$ 0

Mortgage Loans Held for Sale and Investment - Reconciliation to Cash Flow (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Loans Receivable Held-for-sale, Net, Reconciliation to Cash Flow [Roll Forward]
Balance - beginning of period	$ 1,788	$ 1,430
Mortgage loans originated and purchased, net of fees	13,988	14,977
Loans sold	(15,107)	(15,743)
Repurchase of loans out of Ginnie Mae securitizations	943	1,138
Transfer of mortgage loans held for sale to advances/accounts receivable related to claims	(16)	(16)
Net transfer of mortgage loans held for sale from REO in other assets	20	9
Changes in fair value	16	14
Other purchase-related activities(3)	14	30
Balance - end of period	$ 1,646	$ 1,839

Mortgage Loans Held for Sale and Investment - Mortgage Loans Held for Investment (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage loans held for investment, net	$ 143	$ 151
Mortgage loans held for investment, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans held for investment, net – UPB	198	216
Non-accretable	(43)	(52)
Accretable	(12)	(13)	$ (14)	$ (15)
Total mortgage loans held for investment, net	$ 143	$ 151

Mortgage Loans Held for Sale and Investment - Accretable Yield (Details) - Mortgage loans held for investment, net - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Accretable Yield Movement Schedule [Roll Forward]
Balance - beginning of the period	$ (13)	$ (15)
Accretion	2	2
Reclassifications from non-accretable discount	(1)	(1)
Balance - end of the period	$ (12)	$ (14)

Other Assets - Schedule of Others Assets (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Accrued revenues	$ 152	$ 165
Loans subject to repurchase right from Ginnie Mae	143	152
Goodwill	72	74
Prepaid expenses	28	16
Deposits	22	25
Real estate owned (REO), net	21	30
Intangible assets	20	28
Receivables from affiliates, net	6	6
Other	83	64
Total other assets	$ 547	$ 560

Other Assets - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
REO loans with government guarantee	$ 14		$ 21
Xome
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill allocated to disposal		$ 2
Customer relationships \| Xome
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible assets allocated to disposal		$ 4

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Collateral deposit assets (liabilities)	$ 4.0	$ (29.0)
Derivative instruments at fair value, less than	$ 0.1	$ 0.1

Derivative Financial Instruments - Derivative Instruments (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Derivative Assets \| Loan sale commitments
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	$ 1.0	$ 1.0
Fair Value - Asset	0.1	0.1
Recorded Gains / (Losses)	0.0	(0.2)
Derivative Assets \| IRLCs
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	2,531.0	3,675.0
Fair Value - Asset	68.7	92.2
Recorded Gains / (Losses)	(23.5)	3.1
Derivative Assets \| Forward sales of MBS
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	2,524.0	2,580.0
Fair Value - Asset	4.7	39.2
Recorded Gains / (Losses)	(34.5)	33.1
Derivative Assets \| LPCs
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	132.0	203.0
Fair Value - Asset	1.0	1.9
Recorded Gains / (Losses)	(0.9)	(2.0)
Derivative Assets \| Treasury futures
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	255.0
Fair Value - Asset	2.0
Recorded Gains / (Losses)	2.0
Derivative Assets \| Eurodollar futures
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	11.0	35.0
Fair Value - Asset	0.0	0.0
Recorded Gains / (Losses)	0.0	(0.1)
Derivative Assets \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	0.0	9.0
Fair Value - Asset	0.0	0.1
Recorded Gains / (Losses)	(0.1)	(0.4)
Derivative Liabilities \| IRLCs
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	7.0	176.0
Fair Value - Liability	0.0	1.1
Recorded Gains / (Losses)	1.1	(1.1)
Derivative Liabilities \| Forward sales of MBS
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	1,137.0	1,689.0
Fair Value - Liability	3.2	10.0
Recorded Gains / (Losses)	6.8	(6.3)
Derivative Liabilities \| LPCs
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	335.0	111.0
Fair Value - Liability	1.2	1.5
Recorded Gains / (Losses)	0.3	0.0
Derivative Liabilities \| Treasury futures
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	479.0
Fair Value - Liability	2.0
Recorded Gains / (Losses)	(2.0)
Derivative Liabilities \| Eurodollar futures
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	45.0	27.0
Fair Value - Liability	0.0	0.0
Recorded Gains / (Losses)	0.0	0.1
Derivative Liabilities \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	0.0	9.0
Fair Value - Liability	0.0	0.1
Recorded Gains / (Losses)	$ 0.1	$ 0.4

Indebtedness - Notes Payable Summary (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt Outstanding	$ 797	$ 1,096
Advance facilities
Debt Instrument [Line Items]
Unamortized debt issuance costs	(1)	0
Warehouse Facilities
Debt Instrument [Line Items]
Unamortized debt issuance costs	(1)	(2)
Servicing Segment
Debt Instrument [Line Items]
Debt Outstanding	797	1,096
Collateral Pledged	1,121	1,319
Servicing Segment \| Notes Payable, Other
Debt Instrument [Line Items]
Debt outstanding, gross	798	1,096
Collateral Pledged	1,121	1,319
Servicing Segment \| Notes Payable, Other \| Nationstar agency advance receivables trust
Debt Instrument [Line Items]
Capacity Amount	650
Debt outstanding, gross	440	485
Collateral Pledged	$ 503	578
Servicing Segment \| Notes Payable, Other \| Nationstar agency advance receivables trust \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	2.00%
Servicing Segment \| Notes Payable, Other \| Nationstar agency advance receivables trust \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.60%
Servicing Segment \| Notes Payable, Other \| Nationstar mortgage advance receivable trust
Debt Instrument [Line Items]
Capacity Amount	$ 500
Debt outstanding, gross	163	260
Collateral Pledged	$ 286	301
Servicing Segment \| Notes Payable, Other \| Nationstar mortgage advance receivable trust \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.40%
Servicing Segment \| Notes Payable, Other \| Nationstar mortgage advance receivable trust \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	6.50%
Servicing Segment \| Notes Payable, Other \| Nationstar agency advance financing facility
Debt Instrument [Line Items]
Capacity Amount	$ 200
Debt outstanding, gross	101	164
Collateral Pledged	$ 145	186
Servicing Segment \| Notes Payable, Other \| Nationstar agency advance financing facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.00%
Servicing Segment \| Notes Payable, Other \| Nationstar agency advance financing facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	7.40%
Servicing Segment \| Notes Payable, Other \| MBS servicer advance facility (2014)
Debt Instrument [Line Items]
Capacity Amount	$ 125
Debt outstanding, gross	38	88
Collateral Pledged	$ 131	142
Servicing Segment \| Notes Payable, Other \| MBS servicer advance facility (2014) \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	3.50%
Servicing Segment \| Notes Payable, Other \| MBS advance financing facility
Debt Instrument [Line Items]
Capacity Amount	$ 80
Debt outstanding, gross	56	55
Collateral Pledged	$ 56	60
Servicing Segment \| Notes Payable, Other \| MBS advance financing facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.50%
Servicing Segment \| Notes Payable, Other \| MBS advance financing facility (2012)
Debt Instrument [Line Items]
Capacity Amount	$ 0
Debt outstanding, gross	0	44
Collateral Pledged	$ 0	52
Servicing Segment \| Notes Payable, Other \| MBS advance financing facility (2012) \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	5.00%
Originations Segment
Debt Instrument [Line Items]
Debt Outstanding	$ 2,774	2,421
Collateral Pledged	2,960	2,602
Originations Segment \| Mortgage loans, net
Debt Instrument [Line Items]
Debt Outstanding	1,602	1,693
Collateral Pledged	1,692	1,427
Originations Segment \| Reverse mortgage interests, net
Debt Instrument [Line Items]
Debt Outstanding	1,173	730
Collateral Pledged	1,268	834
Originations Segment \| MSR and other collateral
Debt Instrument [Line Items]
Debt Outstanding	0	0
Collateral Pledged	0	341
Originations Segment \| Notes Payable to Banks
Debt Instrument [Line Items]
Debt outstanding, gross	2,775	2,423
Collateral Pledged	2,960	2,602
Originations Segment \| Notes Payable to Banks \| $1,200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	1,200
Debt outstanding, gross	719	682
Collateral Pledged	$ 762	747
Originations Segment \| Notes Payable to Banks \| $1,200 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	2.00%
Originations Segment \| Notes Payable to Banks \| $1,200 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.875%
Originations Segment \| Notes Payable to Banks \| $1,000 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 1,000
Debt outstanding, gross	317	250
Collateral Pledged	$ 325	256
Originations Segment \| Notes Payable to Banks \| $1,000 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	2.10%
Originations Segment \| Notes Payable to Banks \| $1,000 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.40%
Originations Segment \| Notes Payable to Banks \| $750 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 750
Debt outstanding, gross	514	410
Collateral Pledged	$ 555	415
Originations Segment \| Notes Payable to Banks \| $750 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	2.00%
Originations Segment \| Notes Payable to Banks \| $750 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.75%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 500
Debt outstanding, gross	221	229
Collateral Pledged	$ 226	237
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.80%
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 \| $500 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 500
Debt outstanding, gross	384	496
Collateral Pledged	$ 417	539
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	1.80%
Originations Segment \| Notes Payable to Banks \| $500 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	3.30%
Originations Segment \| Notes Payable to Banks \| $350 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 350
Debt outstanding, gross	186	12
Collateral Pledged	$ 202	13
Originations Segment \| Notes Payable to Banks \| $350 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	2.50%
Originations Segment \| Notes Payable to Banks \| $350 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.80%
Originations Segment \| Notes Payable to Banks \| $450 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 450
Debt outstanding, gross	281	173
Collateral Pledged	$ 292	189
Originations Segment \| Notes Payable to Banks \| $450 warehouse facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on rate	2.50%
Originations Segment \| Notes Payable to Banks \| $450 warehouse facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on rate	2.60%
Originations Segment \| Notes Payable to Banks \| $300 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 300
Debt outstanding, gross	127	153
Collateral Pledged	$ 152	180
Originations Segment \| Notes Payable to Banks \| $300 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	2.30%
Originations Segment \| Notes Payable to Banks \| $200 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 200
Debt outstanding, gross	22	7
Collateral Pledged	$ 23	8
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 \| $40 warehouse facility
Debt Instrument [Line Items]
Capacity Amount	$ 40
Debt outstanding, gross	4	11
Collateral Pledged	$ 6	$ 18
Originations Segment \| Notes Payable to Banks \| $40 warehouse facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on rate	3.00%

Indebtedness - Summary of Unsecured Senior Notes (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Unsecured senior notes, net	$ 1,873	$ 1,990
Unsecured Senior Notes
Debt Instrument [Line Items]
Unsecured senior notes principal amount	1,885	2,007
Unamortized debt issuance costs	(12)	(17)
Unsecured senior notes, net	1,873	1,990
Debt issued	1,885
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	594	595
Debt issued	$ 600
Interest Rate	6.50%
Unsecured Senior Notes \| $400 face value, 7.875% interest rate payable semi-annually, due October 2020
Debt Instrument [Line Items]
Unsecured senior notes principal amount	$ 397	400
Debt issued	$ 400
Interest Rate	7.875%
Unsecured Senior Notes \| $475 face value, 6.500% interest rate payable semi-annually, due August 2018
Debt Instrument [Line Items]
Unsecured senior notes principal amount	$ 364	461
Debt issued	$ 475
Interest Rate	6.50%
Unsecured Senior Notes \| $375 face value, 9.625% interest rate payable semi-annually, due May 2019
Debt Instrument [Line Items]
Unsecured senior notes principal amount	$ 324	345
Debt issued	$ 375
Interest Rate	9.625%
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	$ 206
Debt issued	$ 300
Interest Rate	6.50%

Indebtedness - Narrative (Details)	3 Months Ended		9 Months Ended
Indebtedness - Narrative (Details)	Sep. 30, 2017 USD ($) debt_instrument	Sep. 30, 2016 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)	Dec. 31, 2016 USD ($)	Nov. 30, 2009 USD ($)
Debt Instrument [Line Items]
Repurchase of unsecured senior notes			$ 122,000,000	$ 29,000,000
Maximum percentage redeemable on unsecured debt			35.00%
Principal amount outstanding on securitized financing						$ 222,000,000
Non-recourse debt	$ 8,569,000,000		$ 8,569,000,000		$ 9,631,000,000
Minimum tangible net worth	682,000,000		682,000,000
Securities Pledged as Collateral
Debt Instrument [Line Items]
Principal amount outstanding on securitized financing	186,000,000		186,000,000		208,000,000
Nonrecourse debt–legacy assets
Debt Instrument [Line Items]
Carrying value on loans outstanding	45,000,000		45,000,000		58,000,000
Legacy Asset
Debt Instrument [Line Items]
Non-recourse debt	$ 39,000,000		39,000,000		$ 50,000,000
Notes Payable to Banks \| Two New Warehouse Facilities [Member]
Debt Instrument [Line Items]
Number of new warehouse agreements \| debt_instrument	2
Capacity Amount	$ 200,000,000		200,000,000
Unsecured Senior Notes
Debt Instrument [Line Items]
Repurchase of unsecured senior notes	26,000,000	$ 4,000,000	120,000,000	$ 29,000,000
Loss on repurchase of debt	$ 1,000,000		$ 3,000,000
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	1.50%		1.50%
Minimum \| Secured Debt \| HECM Securitizations
Debt Instrument [Line Items]
Interest rate	2.00%		2.00%
Weighted average useful life			1 year
Maximum \| Nonrecourse debt–legacy assets
Debt Instrument [Line Items]
Interest rate	7.00%		7.00%
Maximum \| Secured Debt \| HECM Securitizations
Debt Instrument [Line Items]
Interest rate	6.50%		6.50%
Weighted average useful life			3 years

Indebtedness - Schedule of Notes Maturity (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Unsecured senior notes, net	$ 1,873	$ 1,990
Unsecured Senior Notes
Debt Instrument [Line Items]
2017	0
2018	364
2019	324
2020	397
2021	594
Thereafter	206
Unsecured senior notes principal amount	1,885
Unamortized debt issuance costs	(12)	(17)
Unsecured senior notes, net	$ 1,873	$ 1,990

Indebtedness - Summary of Other Non-Recourse Debt (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Non-recourse debt	$ 8,569	$ 9,631
Participating Interest Financing
Debt Instrument [Line Items]
Non-recourse debt	7,640	8,914
Trust 2015-2
Debt Instrument [Line Items]
Non-recourse debt	0	114
Trust 2016-1
Debt Instrument [Line Items]
Non-recourse debt	0	194
Trust 2016-2
Debt Instrument [Line Items]
Non-recourse debt	105	158
Trust 2016-3
Debt Instrument [Line Items]
Non-recourse debt	153	208
Trust 2017-1
Debt Instrument [Line Items]
Non-recourse debt	240	0
Trust 2017-2
Debt Instrument [Line Items]
Non-recourse debt	399	0
Legacy Asset
Debt Instrument [Line Items]
Non-recourse debt	39	50
Other
Debt Instrument [Line Items]
Non-recourse debt	8,576	9,638
Nonrecourse debt–legacy assets
Debt Instrument [Line Items]
Unamortized debt issuance costs	(7)	$ (7)
Nonrecourse debt–legacy assets \| Participating Interest Financing
Debt Instrument [Line Items]
Securitized Amount	0
Nonrecourse debt–legacy assets \| Trust 2015-2
Debt Instrument [Line Items]
Securitized Amount	0
Nonrecourse debt–legacy assets \| Trust 2016-1
Debt Instrument [Line Items]
Securitized Amount	0
Nonrecourse debt–legacy assets \| Trust 2016-2
Debt Instrument [Line Items]
Securitized Amount	132
Nonrecourse debt–legacy assets \| Trust 2016-3
Debt Instrument [Line Items]
Securitized Amount	183
Nonrecourse debt–legacy assets \| Trust 2017-1
Debt Instrument [Line Items]
Securitized Amount	268
Nonrecourse debt–legacy assets \| Trust 2017-2
Debt Instrument [Line Items]
Securitized Amount	399
Nonrecourse debt–legacy assets \| Legacy Asset
Debt Instrument [Line Items]
Securitized Amount	$ 133

Payables and Accrued Liabilities - Schedule of Accounts Payable (Details) - USD ($) $ in Millions	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Payables to servicing and subservicing investors	$ 572		$ 655
Loans subject to repurchase from Ginnie Mae	143		152
Accounts payable and other accrued liabilities	89		178
Accrued bonus and payroll	78		95
Accrued interest	64		65
Payable to insurance carriers and insurance cancellation reserves	60		73
Professional and legal	54		47
Payable to GSEs and securitized trusts	53		58
Lease obligations	28		24
Taxes	21		84
Repurchase reserves	15	$ 14	18	$ 25	$ 26	$ 26
MSR purchases payable including advances	11		21
Total payables and accrued liabilities	$ 1,188		$ 1,470

Payables and Accrued Liabilities - Repurchase Reserves (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Loans Subject to Repurchase Reserve [Roll Forward]
Balance - beginning of period	$ 14	$ 26	$ 18	$ 26
Provision, net of release	2	0	(1)	1
Charge-offs	(1)	(1)	(2)	(2)
Balance - end of period	$ 15	$ 25	$ 15	$ 25

Securitizations and Financings - Assets and Liabilities of Consolidated VIEs (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017 USD ($) special_purpose_entity	Dec. 31, 2016 USD ($)
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Number of SPEs \| special_purpose_entity	4
Assets	$ 1,199	$ 1,409
Reverse Secured Borrowings, Assets, Carrying Amount	8,540	9,594
Liabilities	744	960
Reverse Secured Borrowings, Liabilities, Carrying Amount	8,470	9,514
Residential Mortgage \| Restricted cash
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	121	190
Reverse Secured Borrowings, Assets, Carrying Amount	25	37
Residential Mortgage \| Reverse mortgage interests, net
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	0	0
Reverse Secured Borrowings, Assets, Carrying Amount	8,515	9,557
Residential Mortgage \| Advances and other receivables, net
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	934	1,065
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	142	150
Reverse Secured Borrowings, Assets, Carrying Amount	0	0
Residential Mortgage \| Other assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	2	4
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	704	909
Reverse Secured Borrowings, Liabilities, Carrying Amount	0	0
Residential Mortgage \| Payables and accrued liabilities
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	1	1
Reverse Secured Borrowings, Liabilities, Carrying Amount	0	0
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	7,573	8,840
Residential Mortgage \| Trust 2015-2 \| 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	114
Residential Mortgage \| Trust 2016-1 \| 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	0	194
Residential Mortgage \| Trust 2016-2 \| 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	105	158
Residential Mortgage \| Trust 2016-3 \| 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	153	208
Residential Mortgage \| Trust 2017-1 \| 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	240	0
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	399	0
Residential Mortgage \| Other nonrecourse debt
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	39	50
Reverse Secured Borrowings, Liabilities, Carrying Amount	$ 0	$ 0

Securitizations and Financings - Securitization Trusts (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Variable Interest Entities and Securitizations [Abstract]
Total collateral balances	$ 2,373	$ 2,704
Total certificate balances	2,214	2,455
Unconsolidated securitization trusts	$ 430	$ 548

Stockholders' Equity - Narrative (Details) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jan. 31, 2017
RSUs \| Certain Employees
Class of Stock [Line Items]
Shares granted (in shares)	3		1,062
Compensation expense	$ 4	$ 6	$ 13	$ 18
RSUs \| Tranche One \| Certain Employees
Class of Stock [Line Items]
Vesting percentage			33.30%
RSUs \| Tranche Two \| Certain Employees
Class of Stock [Line Items]
Vesting percentage			33.30%
RSUs \| Tranche Three \| Certain Employees
Class of Stock [Line Items]
Vesting percentage			33.40%
Common Stock
Class of Stock [Line Items]
Amount authorized to be repurchased					$ 100
Repurchase of common stock (in shares)			0	10,589

Income Taxes - Schedule of Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 5	$ 29	$ (4)	$ (106)
Effective tax rate	37.10%	40.60%	29.10%	36.80%

Income Taxes - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Statutory federal rate percentage		35.00%	35.00%	35.00%	35.00%
Xome
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Tax expense related to disposal	$ 4

Fair Value Measurements - Measured on a Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Assets
Mortgage loans held for sale	$ 1,646.0	$ 1,788.0
Mortgage servicing rights	2,956.0	3,160.0
Liabilities
Mortgage servicing rights financing	20.0	27.0
Recurring Fair Value Measurements
Assets
Mortgage loans held for sale	1,645.7	1,788.0
Mortgage servicing rights	2,956.1	3,160.0
Derivative financial instruments	76.0	133.0
Total assets	4,678.2	5,081.4
Liabilities
Mortgage servicing rights financing	20.5	27.0
Excess spread financing	1,045.6	1,214.0
Total liabilities	1,072.5	1,253.7
Recurring Fair Value Measurements \| IRLCs
Assets
Derivative financial instruments	68.7	92.2
Liabilities
Derivative financial instruments		1.1
Recurring Fair Value Measurements \| Forward sales of MBS
Assets
Derivative financial instruments	4.7	39.2
Liabilities
Derivative financial instruments	3.2	10.0
Recurring Fair Value Measurements \| LPCs
Assets
Derivative financial instruments	1.0	1.9
Liabilities
Derivative financial instruments	1.2	1.5
Recurring Fair Value Measurements \| Treasury futures
Assets
Derivative financial instruments	2.0
Liabilities
Derivative financial instruments	2.0
Recurring Fair Value Measurements \| Interest rate swaps and caps
Assets
Derivative financial instruments		0.1
Liabilities
Derivative financial instruments		0.1
Recurring Fair Value Measurements \| Level 1
Assets
Mortgage loans held for sale	0.0	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 sales of MBS
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 \| Treasury futures
Assets
Derivative financial instruments	0.0
Liabilities
Derivative financial instruments	0.0
Recurring Fair Value Measurements \| Level 1 \| Interest rate swaps and caps
Assets
Derivative financial instruments		0.0
Liabilities
Derivative financial instruments		0.0
Recurring Fair Value Measurements \| Level 2
Assets
Mortgage loans held for sale	1,645.7	1,788.0
Mortgage servicing rights	0.0	0.0
Derivative financial instruments	76.0	133.0
Total assets	1,722.1	1,921.4
Liabilities
Mortgage servicing rights financing	0.0	0.0
Excess spread financing	0.0	0.0
Total liabilities	6.4	12.7
Recurring Fair Value Measurements \| Level 2 \| IRLCs
Assets
Derivative financial instruments	68.7	92.2
Liabilities
Derivative financial instruments		1.1
Recurring Fair Value Measurements \| Level 2 \| Forward sales of MBS
Assets
Derivative financial instruments	4.7	39.2
Liabilities
Derivative financial instruments	3.2	10.0
Recurring Fair Value Measurements \| Level 2 \| LPCs
Assets
Derivative financial instruments	1.0	1.9
Liabilities
Derivative financial instruments	1.2	1.5
Recurring Fair Value Measurements \| Level 2 \| Treasury futures
Assets
Derivative financial instruments	2.0
Liabilities
Derivative financial instruments	2.0
Recurring Fair Value Measurements \| Level 2 \| Interest rate swaps and caps
Assets
Derivative financial instruments		0.1
Liabilities
Derivative financial instruments		0.1
Recurring Fair Value Measurements \| Level 3
Assets
Mortgage loans held for sale	0.0	0.0
Mortgage servicing rights	2,956.1	3,160.0
Derivative financial instruments	0.0	0.0
Total assets	2,956.1	3,160.0
Liabilities
Mortgage servicing rights financing	20.5	27.0
Excess spread financing	1,045.6	1,214.0
Total liabilities	1,066.1	1,241.0
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 sales of MBS
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 \| Treasury futures
Assets
Derivative financial instruments	0.0
Liabilities
Derivative financial instruments	$ 0.0
Recurring Fair Value Measurements \| Level 3 \| Interest rate swaps and caps
Assets
Derivative financial instruments		0.0
Liabilities
Derivative financial instruments		$ 0.0

Fair Value Measurements - Level 3 Reconciliation (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Excess spread financing
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	$ 1,214	$ 1,232
Total gains or losses included in earnings	0	25
Purchases	0	0
Issuances	0	155
Sales	0	0
Settlements	(168)	(198)
Balance - end of period	1,046	1,214
Mortgage servicing rights financing
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	27	69
Total gains or losses included in earnings	(7)	(42)
Purchases	0	0
Issuances	0	0
Sales	0	0
Settlements	0	0
Balance - end of period	20	27
Mortgage servicing rights
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance - beginning of period	3,160	3,358
Total gains or losses included in earnings	(361)	(496)
Purchases	30	157
Issuances	151	208
Sales	(24)	(67)
Settlements	0	0
Balance - end of period	$ 2,956	$ 3,160

Fair Value Measurements - Fair Value by Balance Sheet Line Item (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Financial assets
Restricted cash	$ 356.0	$ 388.0
Reverse mortgage interests, net	10,299.0	11,033.0
Mortgage loans held for sale	1,646.0	1,788.0
Mortgage loans held for investment, net	143.0	151.0
Financial liabilities
Unsecured senior notes	1,873.0	1,990.0
Advance facilities	797.0	1,096.0
Warehouse facilities	2,774.0	2,421.0
Mortgage servicing rights financing liability	20.0	27.0
Derivative financial instruments	7.0	13.0
Excess spread financing	1,046.0	1,214.0
Other nonrecourse debt	8,569.0	9,631.0
Participating Interest Financing
Financial liabilities
Other nonrecourse debt	7,640.0	8,914.0
Trust 2015-2
Financial liabilities
Other nonrecourse debt	0.0	114.0
Trust 2016-1
Financial liabilities
Other nonrecourse debt	0.0	194.0
Trust 2016-2
Financial liabilities
Other nonrecourse debt	105.0	158.0
Trust 2016-3
Financial liabilities
Other nonrecourse debt	153.0	208.0
Trust 2017-1
Financial liabilities
Other nonrecourse debt	240.0	0.0
Trust 2017-2
Financial liabilities
Other nonrecourse debt	399.0	0.0
Legacy Asset
Financial liabilities
Other nonrecourse debt	39.0	50.0
Recurring Fair Value Measurements
Financial assets
Cash and cash equivalents	224.0	489.0
Restricted cash	356.0	388.0
Advances and other receivables, net	1,625.0	1,749.0
Reverse mortgage interests, net	10,299.0	11,033.0
Mortgage loans held for sale	1,645.7	1,788.0
Mortgage loans held for investment, net	143.0	151.0
Derivative financial instruments	76.0	133.0
Financial liabilities
Unsecured senior notes	1,885.0	2,007.0
Advance facilities	798.0	1,096.0
Warehouse facilities	2,775.0	2,423.0
Mortgage servicing rights financing liability	20.5	27.0
Derivative financial instruments	7.0	13.0
Excess spread financing	1,046.0	1,214.0
Recurring Fair Value Measurements \| Participating Interest Financing
Financial liabilities
Other nonrecourse debt	7,640.0	8,914.0
Recurring Fair Value Measurements \| Trust 2015-2
Financial liabilities
Other nonrecourse debt		114.0
Recurring Fair Value Measurements \| Trust 2016-1
Financial liabilities
Other nonrecourse debt		194.0
Recurring Fair Value Measurements \| Trust 2016-2
Financial liabilities
Other nonrecourse debt	105.0	158.0
Recurring Fair Value Measurements \| Trust 2016-3
Financial liabilities
Other nonrecourse debt	153.0	208.0
Recurring Fair Value Measurements \| Legacy Asset
Financial liabilities
Other nonrecourse debt	39.0	50.0
Recurring Fair Value Measurements \| Level 1
Financial assets
Cash and cash equivalents	224.0	489.0
Restricted cash	356.0	388.0
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, net	0.0	0.0
Derivative financial instruments	0.0	0.0
Financial liabilities
Unsecured senior notes	1,920.0	2,047.0
Advance facilities	0.0	0.0
Warehouse facilities	0.0	0.0
Mortgage servicing rights financing liability	0.0	0.0
Derivative financial instruments	0.0	0.0
Excess spread financing	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 2015-2
Financial liabilities
Other nonrecourse debt		0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2016-1
Financial liabilities
Other nonrecourse debt		0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2016-2
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2016-3
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2017-1
Financial liabilities
Other nonrecourse debt	0.0
Recurring Fair Value Measurements \| Level 1 \| Trust 2017-2
Financial liabilities
Other nonrecourse debt	0.0
Recurring Fair Value Measurements \| Level 1 \| Legacy Asset
Financial liabilities
Other nonrecourse debt	0.0	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	1,645.7	1,788.0
Mortgage loans held for investment, net	0.0	0.0
Derivative financial instruments	76.0	133.0
Financial liabilities
Unsecured senior notes	0.0	0.0
Advance facilities	798.0	1,096.0
Warehouse facilities	2,775.0	2,423.0
Mortgage servicing rights financing liability	0.0	0.0
Derivative financial instruments	7.0	13.0
Excess spread financing	0.0	0.0
Recurring Fair Value Measurements \| Level 2 \| Participating Interest Financing
Financial liabilities
Other nonrecourse debt	7,840.0	9,151.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2015-2
Financial liabilities
Other nonrecourse debt		0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2016-1
Financial liabilities
Other nonrecourse debt		0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2016-2
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2016-3
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2017-1
Financial liabilities
Other nonrecourse debt	0.0
Recurring Fair Value Measurements \| Level 2 \| Trust 2017-2
Financial liabilities
Other nonrecourse debt	0.0
Recurring Fair Value Measurements \| Level 2 \| Legacy Asset
Financial liabilities
Other nonrecourse debt	0.0	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	1,625.0	1,749.0
Reverse mortgage interests, net	10,539.0	11,232.0
Mortgage loans held for sale	0.0	0.0
Mortgage loans held for investment, net	143.0	153.0
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	20.5	27.0
Derivative financial instruments	0.0	0.0
Excess spread financing	1,046.0	1,214.0
Recurring Fair Value Measurements \| Level 3 \| Participating Interest Financing
Financial liabilities
Other nonrecourse debt	0.0	0.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2015-2
Financial liabilities
Other nonrecourse debt		125.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2016-1
Financial liabilities
Other nonrecourse debt		203.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2016-2
Financial liabilities
Other nonrecourse debt	121.0	156.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2016-3
Financial liabilities
Other nonrecourse debt	170.0	205.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2017-1
Financial liabilities
Other nonrecourse debt	252.0
Recurring Fair Value Measurements \| Level 3 \| Trust 2017-2
Financial liabilities
Other nonrecourse debt	400.0
Recurring Fair Value Measurements \| Level 3 \| Legacy Asset
Financial liabilities
Other nonrecourse debt	$ 38.0	$ 50.0

Capital Requirements - Narrative (Details) $ in Millions	Sep. 30, 2017 USD ($)
Mortgage Banking [Abstract]
Minimum net worth required for compliance	$ 1,000

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Loss Contingencies [Line Items]
Legal fees	$ 10	$ 16	$ 29	$ 49
Reverse Mortgage Servicing Rights
Loss Contingencies [Line Items]
UPB	36,412		36,412
Reverse Mortgage Servicing Rights, Excluding Subservicing
Loss Contingencies [Line Items]
UPB	35,906		35,906		$ 38,940
Warehouse facilities, net of unamortized debt issuance costs
Loss Contingencies [Line Items]
Unfunded advance obligations	3,921		3,921		$ 4,396
Litigation and Regulatory Matters \| Minimum
Loss Contingencies [Line Items]
Estimate of possible loss	23		23
Litigation and Regulatory Matters \| Maximum
Loss Contingencies [Line Items]
Estimate of possible loss	$ 62		$ 62

Disposition and Exit Costs (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2017
Xome
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Write off of assets	$ 7.0
Goodwill allocated to disposal	2.0
Xome \| Other Income (Expense)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on disposal of business	8.0
Customer relationships \| Xome
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Intangible assets allocated to disposal	$ 4.0
Cost Reduction And Operating Effectiveness \| Severance And Other Exit Costs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring charges		$ 0.3	$ 7.0
Facility Closure \| Severance And Other Exit Costs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring charges			$ 3.0

Business Segment Reporting - Financial Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Revenues:
Service related, net	$ 252	$ 310	$ 748	$ 507
Net gain on mortgage loans held for sale	154	232	465	619
Total revenues	406	542	1,213	1,126
Total Expenses	368	407	1,109	1,232
Other income (expenses):
Interest income	157	103	435	313
Interest expense	(181)	(165)	(557)	(493)
Other	(2)	(2)	4	(2)
Total other income (expenses), net	(26)	(64)	(118)	(182)
Income (loss) before income tax expense (benefit)	12	71	(14)	(288)
Depreciation and amortization	15	17	44	48
Total assets	18,004	15,846	18,004	15,846	$ 19,593
Operating Segments
Revenues:
Service related, net	252	311	747	506
Net gain on mortgage loans held for sale	154	231	465	619
Total revenues	406	542	1,212	1,125
Total Expenses	345	378	1,037	1,145
Other income (expenses):
Interest income	155	99	423	302
Interest expense	(143)	(124)	(441)	(369)
Other	(2)	(1)	6	(1)
Total other income (expenses), net	10	(26)	(12)	(68)
Income (loss) before income tax expense (benefit)	71	138	163	(88)
Depreciation and amortization	12	13	34	42
Total assets	17,225	14,686	17,225	14,686
Operating Segments \| Servicing Segment
Revenues:
Service related, net	191	211	537	225
Net gain on mortgage loans held for sale	0	0	0	0
Total revenues	191	211	537	225
Total Expenses	185	150	518	477
Other income (expenses):
Interest income	141	82	384	254
Interest expense	(130)	(108)	(402)	(325)
Other	(2)	0	(2)	0
Total other income (expenses), net	9	(26)	(20)	(71)
Income (loss) before income tax expense (benefit)	15	35	(1)	(323)
Depreciation and amortization	6	6	16	17
Total assets	15,147	12,250	15,147	12,250
Operating Segments \| Originations Segment
Revenues:
Service related, net	16	16	47	47
Net gain on mortgage loans held for sale	134	208	402	526
Total revenues	150	224	449	573
Total Expenses	106	141	326	394
Other income (expenses):
Interest income	14	17	39	48
Interest expense	(13)	(16)	(39)	(44)
Other	0	(1)	0	(1)
Total other income (expenses), net	1	0	0	3
Income (loss) before income tax expense (benefit)	45	83	123	182
Depreciation and amortization	3	3	8	9
Total assets	4,644	4,523	4,644	4,523
Operating Segments \| Xome
Revenues:
Service related, net	65	107	226	327
Net gain on mortgage loans held for sale	0	0	0	0
Total revenues	65	107	226	327
Total Expenses	54	87	193	274
Other income (expenses):
Interest income	0	0	0	0
Interest expense	0	0	0	0
Other	0	0	8	0
Total other income (expenses), net	0	0	8	0
Income (loss) before income tax expense (benefit)	11	20	41	53
Depreciation and amortization	3	4	10	16
Total assets	382	345	382	345
Eliminations
Revenues:
Service related, net	(20)	(23)	(63)	(93)
Net gain on mortgage loans held for sale	20	23	63	93
Total revenues	0	0	0	0
Total Expenses	0	0	0	0
Other income (expenses):
Interest income	0	0	0	0
Interest expense	0	0	0	0
Other	0	0	0	0
Total other income (expenses), net	0	0	0	0
Income (loss) before income tax expense (benefit)	0	0	0	0
Depreciation and amortization	0	0	0	0
Total assets	(2,948)	(2,432)	(2,948)	(2,432)
Corporate and Other
Revenues:
Service related, net	0	(1)	1	1
Net gain on mortgage loans held for sale	0	1	0	0
Total revenues	0	0	1	1
Total Expenses	23	29	72	87
Other income (expenses):
Interest income	2	4	12	11
Interest expense	(38)	(41)	(116)	(124)
Other	0	(1)	(2)	(1)
Total other income (expenses), net	(36)	(38)	(106)	(114)
Income (loss) before income tax expense (benefit)	(59)	(67)	(177)	(200)
Depreciation and amortization	3	4	10	6
Total assets	$ 779	$ 1,160	$ 779	$ 1,160

Guarantor Financial Statement Information - Narrative (Details) $ in Millions	Sep. 30, 2017 USD ($) subsidiary	Dec. 31, 2016 USD ($)
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Unsecured senior notes \| $	$ 1,873	$ 1,990
Ownership percentage	100.00%
Number of subsidiaries as guarantors of unsecured debt \| subsidiary	2

Guarantor Financial Statement Information - Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 224	$ 489	$ 695	$ 613
Restricted cash	356	388
Mortgage servicing rights	2,961	3,166
Advances and other receivables, net	1,625	1,749
Reverse mortgage interests, net	10,299	11,033
Mortgage loans held for sale at fair value	1,646	1,788
Mortgage loans held for investment, net	143	151
Property and equipment, net	127	136
Derivative financial instruments at fair value	76	133
Other assets	547	560
Investment in subsidiaries	0	0
Total assets	18,004	19,593	15,846
Liabilities and Stockholders' Equity
Unsecured senior notes	1,873	1,990
Advance facilities	797	1,096
Warehouse facilities	2,774	2,421
Payables and accrued liabilities	1,188	1,470
MSR related liabilities - nonrecourse at fair value	1,066	1,241
Mortgage servicing liabilities	53	48
Derivative financial instruments at fair value	7	13
Other nonrecourse debt, net	8,569	9,631
Payables to affiliates	0	0
Total liabilities	16,327	17,910
Total stockholders' equity	1,677	1,683	1,482	1,767
Total liabilities and stockholders' equity	18,004	19,593
Eliminations
Assets
Cash and cash equivalents	0	0	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, net	0	0
Property and equipment, net	0	0
Derivative financial instruments at fair value	0	0
Other assets	(806)	(1,045)
Investment in subsidiaries	(2,308)	(2,435)
Total assets	(3,114)	(3,480)
Liabilities and Stockholders' Equity
Unsecured senior notes	0	0
Advance facilities	0	0
Warehouse facilities	0	0
Payables and accrued liabilities	0	0
MSR related liabilities - nonrecourse at fair value	0	0
Mortgage servicing liabilities	0	0
Derivative financial instruments at fair value	0	0
Other nonrecourse debt, net	0	0
Payables to affiliates	(806)	(1,045)
Total liabilities	(806)	(1,045)
Total stockholders' equity	(2,308)	(2,435)
Total liabilities and stockholders' equity	(3,114)	(3,480)
Nationstar \| Reportable entities
Assets
Cash and cash equivalents	0	0	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, net	0	0
Property and equipment, net	0	0
Derivative financial instruments at fair value	0	0
Other assets	0	0
Investment in subsidiaries	1,801	1,801
Total assets	1,801	1,801
Liabilities and Stockholders' Equity
Unsecured senior notes	0	0
Advance facilities	0	0
Warehouse facilities	0	0
Payables and accrued liabilities	0	0
MSR related liabilities - nonrecourse at fair value	0	0
Mortgage servicing liabilities	0	0
Derivative financial instruments at fair value	0	0
Other nonrecourse debt, net	0	0
Payables to affiliates	124	118
Total liabilities	124	118
Total stockholders' equity	1,677	1,683
Total liabilities and stockholders' equity	1,801	1,801
Issuer \| Reportable entities
Assets
Cash and cash equivalents	201	453	664	597
Restricted cash	211	159
Mortgage servicing rights	2,931	3,142
Advances and other receivables, net	1,625	1,749
Reverse mortgage interests, net	9,357	10,316
Mortgage loans held for sale at fair value	1,646	1,787
Mortgage loans held for investment, net	1	1
Property and equipment, net	108	113
Derivative financial instruments at fair value	76	133
Other assets	445	444
Investment in subsidiaries	507	634
Total assets	17,108	18,931
Liabilities and Stockholders' Equity
Unsecured senior notes	1,873	1,990
Advance facilities	93	187
Warehouse facilities	2,774	2,421
Payables and accrued liabilities	1,149	1,420
MSR related liabilities - nonrecourse at fair value	1,046	1,219
Mortgage servicing liabilities	53	48
Derivative financial instruments at fair value	7	13
Other nonrecourse debt, net	7,632	8,907
Payables to affiliates	680	925
Total liabilities	15,307	17,130
Total stockholders' equity	1,801	1,801
Total liabilities and stockholders' equity	17,108	18,931
Guarantor (Subsidiaries of Issuer) \| Reportable entities
Assets
Cash and cash equivalents	1	2	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, net	0	0
Property and equipment, net	0	0
Derivative financial instruments at fair value	0	0
Other assets	177	323
Investment in subsidiaries	0	0
Total assets	178	325
Liabilities and Stockholders' Equity
Unsecured senior notes	0	0
Advance facilities	0	0
Warehouse facilities	0	0
Payables and accrued liabilities	2	2
MSR related liabilities - nonrecourse at fair value	0	0
Mortgage servicing liabilities	0	0
Derivative financial instruments at fair value	0	0
Other nonrecourse debt, net	0	0
Payables to affiliates	0	0
Total liabilities	2	2
Total stockholders' equity	176	323
Total liabilities and stockholders' equity	178	325
Non-Guarantor (Subsidiaries of Issuer) \| Reportable entities
Assets
Cash and cash equivalents	22	34	$ 30	$ 15
Restricted cash	145	229
Mortgage servicing rights	30	24
Advances and other receivables, net	0	0
Reverse mortgage interests, net	942	717
Mortgage loans held for sale at fair value	0	1
Mortgage loans held for investment, net	142	150
Property and equipment, net	19	23
Derivative financial instruments at fair value	0	0
Other assets	731	838
Investment in subsidiaries	0	0
Total assets	2,031	2,016
Liabilities and Stockholders' Equity
Unsecured senior notes	0	0
Advance facilities	704	909
Warehouse facilities	0	0
Payables and accrued liabilities	37	48
MSR related liabilities - nonrecourse at fair value	20	22
Mortgage servicing liabilities	0	0
Derivative financial instruments at fair value	0	0
Other nonrecourse debt, net	937	724
Payables to affiliates	2	2
Total liabilities	1,700	1,705
Total stockholders' equity	331	311
Total liabilities and stockholders' equity	$ 2,031	$ 2,016

Guarantor Financial Statement Information - Consolidating Statements of Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Service related, net	$ 252	$ 310	$ 748	$ 507
Net gain on mortgage loans held for sale	154	232	465	619
Total revenues	406	542	1,213	1,126
Expenses:
Salaries, wages and benefits	183	211	557	613
General and administrative	185	196	552	619
Total expenses	368	407	1,109	1,232
Other income (expenses):
Interest income	157	103	435	313
Interest expense	(181)	(165)	(557)	(493)
Other income (expense)	(2)	(2)	4	(2)
Gain (loss) from subsidiaries	0	0	0	0
Total other income (expenses), net	(26)	(64)	(118)	(182)
Income (loss) before income tax expense (benefit)	12	71	(14)	(288)
Less: Income tax expense	5	29	(4)	(106)
Net income (loss)	7	42	(10)	(182)
Less: Net income (loss) attributable to noncontrolling interests	0	(3)	1	(3)
Net income (loss) attributable to Nationstar	7	45	(11)	(179)
Eliminations
Revenues:
Service related, net	0	0	0	0
Net gain on mortgage loans held for sale	0	0	0	0
Total revenues	0	0	0	0
Expenses:
Salaries, wages and benefits	0	0	0	0
General and administrative	0	0	0	0
Total expenses	0	0	0	0
Other income (expenses):
Interest income	0	0	0	0
Interest expense	0	0	0	0
Other income (expense)	0	0	0	0
Gain (loss) from subsidiaries	(18)	(54)	(29)	149
Total other income (expenses), net	(18)	(54)	(29)	149
Income (loss) before income tax expense (benefit)	(18)	(54)	(29)	149
Less: Income tax expense	0	0	0	0
Net income (loss)	(18)	(54)	(29)	149
Less: Net income (loss) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Nationstar	(18)	(54)	(29)	149
Nationstar \| Reportable entities
Revenues:
Service related, net	0	0	0	0
Net gain on mortgage loans held for sale	0	0	0	0
Total revenues	0	0	0	0
Expenses:
Salaries, wages and benefits	0	0	0	0
General and administrative	0	0	0	0
Total expenses	0	0	0	0
Other income (expenses):
Interest income	0	0	0	0
Interest expense	0	0	0	0
Other income (expense)	0	0	0	0
Gain (loss) from subsidiaries	7	45	(11)	(179)
Total other income (expenses), net	7	45	(11)	(179)
Income (loss) before income tax expense (benefit)	7	45	(11)	(179)
Less: Income tax expense	0	0	0	0
Net income (loss)	7	45	(11)	(179)
Less: Net income (loss) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Nationstar	7	45	(11)	(179)
Issuer \| Reportable entities
Revenues:
Service related, net	181	196	497	156
Net gain on mortgage loans held for sale	153	222	464	590
Total revenues	334	418	961	746
Expenses:
Salaries, wages and benefits	153	156	451	448
General and administrative	154	143	440	453
Total expenses	307	299	891	901
Other income (expenses):
Interest income	145	91	396	276
Interest expense	(168)	(146)	(515)	(437)
Other income (expense)	(3)	(2)	(5)	(2)
Gain (loss) from subsidiaries	11	9	40	30
Total other income (expenses), net	(15)	(48)	(84)	(133)
Income (loss) before income tax expense (benefit)	12	71	(14)	(288)
Less: Income tax expense	5	29	(4)	(106)
Net income (loss)	7	42	(10)	(182)
Less: Net income (loss) attributable to noncontrolling interests	0	(3)	1	(3)
Net income (loss) attributable to Nationstar	7	45	(11)	(179)
Guarantor (Subsidiaries of Issuer) \| Reportable entities
Revenues:
Service related, net	7	5	21	19
Net gain on mortgage loans held for sale	0	0	0	0
Total revenues	7	5	21	19
Expenses:
Salaries, wages and benefits	1	1	3	3
General and administrative	4	2	10	6
Total expenses	5	3	13	9
Other income (expenses):
Interest income	0	0	0	0
Interest expense	0	0	0	0
Other income (expense)	0	0	0	0
Gain (loss) from subsidiaries	0	0	0	0
Total other income (expenses), net	0	0	0	0
Income (loss) before income tax expense (benefit)	2	2	8	10
Less: Income tax expense	0	0	0	0
Net income (loss)	2	2	8	10
Less: Net income (loss) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Nationstar	2	2	8	10
Non-Guarantor (Subsidiaries of Issuer) \| Reportable entities
Revenues:
Service related, net	64	109	230	332
Net gain on mortgage loans held for sale	1	10	1	29
Total revenues	65	119	231	361
Expenses:
Salaries, wages and benefits	29	54	103	162
General and administrative	27	51	102	160
Total expenses	56	105	205	322
Other income (expenses):
Interest income	12	12	39	37
Interest expense	(13)	(19)	(42)	(56)
Other income (expense)	1	0	9	0
Gain (loss) from subsidiaries	0	0	0	0
Total other income (expenses), net	0	(7)	6	(19)
Income (loss) before income tax expense (benefit)	9	7	32	20
Less: Income tax expense	0	0	0	0
Net income (loss)	9	7	32	20
Less: Net income (loss) attributable to noncontrolling interests	0	0	0	0
Net income (loss) attributable to Nationstar	$ 9	$ 7	$ 32	$ 20

Guarantor Financial Statement Information - Consolidating Statements of Cash Flow (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating Activities
Net income (loss) attributable to Nationstar		$ 7	$ 45	$ (11)	$ (179)
Reconciliation of net income (loss) to net cash attributable to operating activities:
(Gain) loss from subsidiaries				0	0
Net income (loss) attributable to non-controlling interest		0	(3)	1	(3)
Net gain on mortgage loans held for sale		(154)	(232)	(465)	(619)
Reverse mortgage loan interest income				(368)	(251)
(Gain) loss on sale of assets				(8)	2
Provision for servicing reserves				113	101
Fair value changes and amortization of mortgage servicing rights				361	778
Fair value changes in excess spread financing				0	(74)
Fair value changes in mortgage servicing rights financing liability				(7)	(2)
Amortization of premiums and accretion of discount				63	48
Depreciation and amortization		15	17	44	48
Share-based compensation				13	18
Other losses				5	0
Repurchases of forward loan assets out of Ginnie Mae securitizations				(943)	(1,138)
Repurchases of reverse loan assets out of Ginnie Mae securitizations, net of assignments to prior servicers				(2,468)	(1,609)
Mortgage loans originated and purchased, net of fees, and other purchase-related activities				(14,002)	(15,063)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment				15,472	16,268
Excess tax benefit from share based compensation				(1)	4
Changes in assets and liabilities:
Advances and other receivables, net				55	504
Reverse mortgage interests, net				3,494	2,022
Other assets				(17)	(136)
Payables and accrued liabilities				(284)	(139)
Net cash attributable to operating activities				1,047	580
Investing Activities
Property and equipment additions, net of disposals				(34)	(49)
Purchase of forward mortgage servicing rights, net of liabilities incurred				(28)	(36)
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables				16	0
Proceeds on sale of forward and reverse mortgage servicing rights				25	25
Proceeds on sale of assets				16	0
Net cash attributable to investing activities				(5)	(60)
Financing Activities
Increase in warehouse facilities				351	718
Decrease in advance facilities				(298)	(458)
Proceeds from issuance of HECM securitizations				701	724
Repayment of HECM securitizations				(484)	(624)
Proceeds from issuance of participating interest financing in reverse mortgage interests, net				437	337
Repayment of participating interest financing in reverse mortgage interests, net				(1,730)	(817)
Repayment of excess spread financing	$ (9)			(168)	(146)
Repayment of nonrecourse debt – legacy assets				(12)	(12)
Repurchase of unsecured senior notes				(122)	(29)
Repurchase of common stock				0	(114)
Transfers (to) from restricted cash, net				38	0
Excess tax deficiency from share based compensation				0	(4)
Surrender of shares relating to stock vesting				(4)	(3)
Debt financing costs				(11)	(10)
Dividends to noncontrolling interests				(5)	0
Net cash attributable to financing activities				(1,307)	(438)
Net (decrease) increase in cash and cash equivalents				(265)	82
Cash and cash equivalents - beginning of period				489	613
Cash and cash equivalents - end of period		224	695	224	695
Eliminations
Operating Activities
Net income (loss) attributable to Nationstar		(18)	(54)	(29)	149
Reconciliation of net income (loss) to net cash attributable to operating activities:
(Gain) loss from subsidiaries				29	(149)
Net income (loss) attributable to non-controlling interest		0	0	0	0
Net gain on mortgage loans held for sale		0	0	0	0
Reverse mortgage loan interest income				0	0
(Gain) loss on sale of assets				0	0
Provision for servicing reserves				0	0
Fair value changes and amortization of mortgage servicing rights				0	0
Fair value changes in excess spread financing				0	0
Fair value changes in mortgage servicing rights financing liability				0	0
Amortization of premiums and accretion of discount				0	0
Depreciation and amortization				0	0
Share-based compensation				0	0
Other losses				0
Repurchases of forward loan assets out of Ginnie Mae securitizations				0	0
Repurchases of reverse loan assets out of Ginnie Mae securitizations, net of assignments to prior servicers				0	0
Mortgage loans originated and purchased, net of fees, and other purchase-related activities				0	0
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment				0	0
Excess tax benefit from share based compensation				0	0
Changes in assets and liabilities:
Advances and other receivables, net				0	0
Reverse mortgage interests, net				0	0
Other assets				0	0
Payables and accrued liabilities				0	0
Net cash attributable to operating activities				0	0
Investing Activities
Property and equipment additions, net of disposals				0	0
Purchase of forward mortgage servicing rights, net of liabilities incurred				0	0
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables				0
Proceeds on sale of forward and reverse mortgage servicing rights				0	0
Proceeds on sale of assets				0
Net cash attributable to investing activities				0	0
Financing Activities
Increase in warehouse facilities				0	0
Decrease in advance facilities				0	0
Proceeds from issuance of HECM securitizations				0	0
Repayment of HECM securitizations				0	0
Proceeds from issuance of participating interest financing in reverse mortgage interests, net				0	0
Repayment of participating interest financing in reverse mortgage interests, net				0	0
Repayment of excess spread financing				0	0
Repayment of nonrecourse debt – legacy assets				0	0
Repurchase of unsecured senior notes				0	0
Repurchase of common stock					0
Transfers (to) from restricted cash, net				0	0
Excess tax deficiency from share based compensation					0
Surrender of shares relating to stock vesting				0	0
Debt financing costs				0	0
Dividends to noncontrolling interests				0
Net cash attributable to financing activities				0	0
Net (decrease) increase in cash and cash equivalents				0	0
Cash and cash equivalents - beginning of period				0	0
Cash and cash equivalents - end of period		0	0	0	0
Nationstar \| Reportable entities
Operating Activities
Net income (loss) attributable to Nationstar		7	45	(11)	(179)
Reconciliation of net income (loss) to net cash attributable to operating activities:
(Gain) loss from subsidiaries				11	179
Net income (loss) attributable to non-controlling interest		0	0	0	0
Net gain on mortgage loans held for sale		0	0	0	0
Reverse mortgage loan interest income				0	0
(Gain) loss on sale of assets				0	0
Provision for servicing reserves				0	0
Fair value changes and amortization of mortgage servicing rights				0	0
Fair value changes in excess spread financing				0	0
Fair value changes in mortgage servicing rights financing liability				0	0
Amortization of premiums and accretion of discount				0	0
Depreciation and amortization				0	0
Share-based compensation				0	0
Other losses				0
Repurchases of forward loan assets out of Ginnie Mae securitizations				0	0
Repurchases of reverse loan assets out of Ginnie Mae securitizations, net of assignments to prior servicers				0	0
Mortgage loans originated and purchased, net of fees, and other purchase-related activities				0	0
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment				0	0
Excess tax benefit from share based compensation				0	0
Changes in assets and liabilities:
Advances and other receivables, net				0	0
Reverse mortgage interests, net				0	0
Other assets				4	117
Payables and accrued liabilities				0	0
Net cash attributable to operating activities				4	117
Investing Activities
Property and equipment additions, net of disposals				0	0
Purchase of forward mortgage servicing rights, net of liabilities incurred				0	0
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables				0
Proceeds on sale of forward and reverse mortgage servicing rights				0	0
Proceeds on sale of assets				0
Net cash attributable to investing activities				0	0
Financing Activities
Increase in warehouse facilities				0	0
Decrease in advance facilities				0	0
Proceeds from issuance of HECM securitizations				0	0
Repayment of HECM securitizations				0	0
Proceeds from issuance of participating interest financing in reverse mortgage interests, net				0	0
Repayment of participating interest financing in reverse mortgage interests, net				0	0
Repayment of excess spread financing				0	0
Repayment of nonrecourse debt – legacy assets				0	0
Repurchase of unsecured senior notes				0	0
Repurchase of common stock					(114)
Transfers (to) from restricted cash, net				0	0
Excess tax deficiency from share based compensation					0
Surrender of shares relating to stock vesting				(4)	(3)
Debt financing costs				0	0
Dividends to noncontrolling interests				0
Net cash attributable to financing activities				(4)	(117)
Net (decrease) increase in cash and cash equivalents				0	0
Cash and cash equivalents - beginning of period				0	0
Cash and cash equivalents - end of period		0	0	0	0
Issuer \| Reportable entities
Operating Activities
Net income (loss) attributable to Nationstar		7	45	(11)	(179)
Reconciliation of net income (loss) to net cash attributable to operating activities:
(Gain) loss from subsidiaries				(40)	(30)
Net income (loss) attributable to non-controlling interest		0	(3)	1	(3)
Net gain on mortgage loans held for sale		(153)	(222)	(464)	(590)
Reverse mortgage loan interest income				(368)	(251)
(Gain) loss on sale of assets				1	2
Provision for servicing reserves				113	101
Fair value changes and amortization of mortgage servicing rights				361	778
Fair value changes in excess spread financing				2	(74)
Fair value changes in mortgage servicing rights financing liability				(7)	(2)
Amortization of premiums and accretion of discount				55	(7,254)
Depreciation and amortization				33	32
Share-based compensation				9	13
Other losses				5
Repurchases of forward loan assets out of Ginnie Mae securitizations				(943)	(1,138)
Repurchases of reverse loan assets out of Ginnie Mae securitizations, net of assignments to prior servicers				(2,468)	(1,609)
Mortgage loans originated and purchased, net of fees, and other purchase-related activities				(14,002)	(14,296)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment				15,459	22,684
Excess tax benefit from share based compensation				(1)	4
Changes in assets and liabilities:
Advances and other receivables, net				55	504
Reverse mortgage interests, net				3,719	2,137
Other assets				(99)	(682)
Payables and accrued liabilities				(273)	(135)
Net cash attributable to operating activities				1,137	12
Investing Activities
Property and equipment additions, net of disposals				(31)	(40)
Purchase of forward mortgage servicing rights, net of liabilities incurred				(22)	(36)
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables				16
Proceeds on sale of forward and reverse mortgage servicing rights				25	25
Proceeds on sale of assets				16
Net cash attributable to investing activities				4	(51)
Financing Activities
Increase in warehouse facilities				351	774
Decrease in advance facilities				(93)	(29)
Proceeds from issuance of HECM securitizations				(6)	(4)
Repayment of HECM securitizations				0	0
Proceeds from issuance of participating interest financing in reverse mortgage interests, net				437	337
Repayment of participating interest financing in reverse mortgage interests, net				(1,730)	(817)
Repayment of excess spread financing				(168)	(146)
Repayment of nonrecourse debt – legacy assets				0	1
Repurchase of unsecured senior notes				(122)	(29)
Repurchase of common stock					0
Transfers (to) from restricted cash, net				(46)	33
Excess tax deficiency from share based compensation					(4)
Surrender of shares relating to stock vesting				0	0
Debt financing costs				(11)	(10)
Dividends to noncontrolling interests				(5)
Net cash attributable to financing activities				(1,393)	106
Net (decrease) increase in cash and cash equivalents				(252)	67
Cash and cash equivalents - beginning of period				453	597
Cash and cash equivalents - end of period		201	664	201	664
Guarantor (Subsidiaries of Issuer) \| Reportable entities
Operating Activities
Net income (loss) attributable to Nationstar		2	2	8	10
Reconciliation of net income (loss) to net cash attributable to operating activities:
(Gain) loss from subsidiaries				0	0
Net income (loss) attributable to non-controlling interest		0	0	0	0
Net gain on mortgage loans held for sale		0	0	0	0
Reverse mortgage loan interest income				0	0
(Gain) loss on sale of assets				0	0
Provision for servicing reserves				0	0
Fair value changes and amortization of mortgage servicing rights				0	0
Fair value changes in excess spread financing				0	0
Fair value changes in mortgage servicing rights financing liability				0	0
Amortization of premiums and accretion of discount				0	0
Depreciation and amortization				0	0
Share-based compensation				0	0
Other losses				0
Repurchases of forward loan assets out of Ginnie Mae securitizations				0	0
Repurchases of reverse loan assets out of Ginnie Mae securitizations, net of assignments to prior servicers				0	0
Mortgage loans originated and purchased, net of fees, and other purchase-related activities				0	0
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment				0	0
Excess tax benefit from share based compensation				0	0
Changes in assets and liabilities:
Advances and other receivables, net				0	0
Reverse mortgage interests, net				0	0
Other assets				(9)	(10)
Payables and accrued liabilities				0	0
Net cash attributable to operating activities				(1)	0
Investing Activities
Property and equipment additions, net of disposals				0	0
Purchase of forward mortgage servicing rights, net of liabilities incurred				0	0
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables				0
Proceeds on sale of forward and reverse mortgage servicing rights				0	0
Proceeds on sale of assets				0
Net cash attributable to investing activities				0	0
Financing Activities
Increase in warehouse facilities				0	0
Decrease in advance facilities				0	0
Proceeds from issuance of HECM securitizations				0	0
Repayment of HECM securitizations				0	0
Proceeds from issuance of participating interest financing in reverse mortgage interests, net				0	0
Repayment of participating interest financing in reverse mortgage interests, net				0	0
Repayment of excess spread financing				0	0
Repayment of nonrecourse debt – legacy assets				0	0
Repurchase of unsecured senior notes				0	0
Repurchase of common stock					0
Transfers (to) from restricted cash, net				0	0
Excess tax deficiency from share based compensation					0
Surrender of shares relating to stock vesting				0	0
Debt financing costs				0	0
Dividends to noncontrolling interests				0
Net cash attributable to financing activities				0	0
Net (decrease) increase in cash and cash equivalents				(1)	0
Cash and cash equivalents - beginning of period				2	1
Cash and cash equivalents - end of period		1	1	1	1
Non-Guarantor (Subsidiaries of Issuer) \| Reportable entities
Operating Activities
Net income (loss) attributable to Nationstar		9	7	32	20
Reconciliation of net income (loss) to net cash attributable to operating activities:
(Gain) loss from subsidiaries				0	0
Net income (loss) attributable to non-controlling interest		0	0	0	0
Net gain on mortgage loans held for sale		(1)	(10)	(1)	(29)
Reverse mortgage loan interest income				0	0
(Gain) loss on sale of assets				(9)	0
Provision for servicing reserves				0	0
Fair value changes and amortization of mortgage servicing rights				0	0
Fair value changes in excess spread financing				(2)	0
Fair value changes in mortgage servicing rights financing liability				0	0
Amortization of premiums and accretion of discount				8	7,302
Depreciation and amortization				11	16
Share-based compensation				4	5
Other losses				0
Repurchases of forward loan assets out of Ginnie Mae securitizations				0	0
Repurchases of reverse loan assets out of Ginnie Mae securitizations, net of assignments to prior servicers				0	0
Mortgage loans originated and purchased, net of fees, and other purchase-related activities				0	(767)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment				13	(6,416)
Excess tax benefit from share based compensation				0	0
Changes in assets and liabilities:
Advances and other receivables, net				0	0
Reverse mortgage interests, net				(225)	(115)
Other assets				87	439
Payables and accrued liabilities				(11)	(4)
Net cash attributable to operating activities				(93)	451
Investing Activities
Property and equipment additions, net of disposals				(3)	(9)
Purchase of forward mortgage servicing rights, net of liabilities incurred				(6)	0
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables				0
Proceeds on sale of forward and reverse mortgage servicing rights				0	0
Proceeds on sale of assets				0
Net cash attributable to investing activities				(9)	(9)
Financing Activities
Increase in warehouse facilities				0	(56)
Decrease in advance facilities				(205)	(429)
Proceeds from issuance of HECM securitizations				707	728
Repayment of HECM securitizations				(484)	(624)
Proceeds from issuance of participating interest financing in reverse mortgage interests, net				0	0
Repayment of participating interest financing in reverse mortgage interests, net				0	0
Repayment of excess spread financing				0	0
Repayment of nonrecourse debt – legacy assets				(12)	(13)
Repurchase of unsecured senior notes				0	0
Repurchase of common stock					0
Transfers (to) from restricted cash, net				84	(33)
Excess tax deficiency from share based compensation					0
Surrender of shares relating to stock vesting				0	0
Debt financing costs				0	0
Dividends to noncontrolling interests				0
Net cash attributable to financing activities				90	(427)
Net (decrease) increase in cash and cash equivalents				(12)	15
Cash and cash equivalents - beginning of period				34	15
Cash and cash equivalents - end of period		$ 22	$ 30	$ 22	$ 30

Transactions with Affiliates - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jan. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Mortgage servicing rights financing liability - fair value		$ 20.0		$ 20.0			$ 27.0
Newcastle
Related Party Transaction [Line Items]
Servicing fee, percentage of unpaid principal balance				0.50%
UPB		511.0		$ 511.0			576.0
Servicing fees and other performance incentive fees received		0.6	$ 0.7	2.0	$ 2.0
New Residential
Related Party Transaction [Line Items]
Servicing fees and other performance incentive fees received		0.4	0.5	1.0	0.7
Excess spread financing		899.0		899.0			$ 1,064.0
Fees paid		59.0	71.0	186.0	222.0
Revenue recognized from servicing agreements		11.0	1.0	20.0	4.0
Loan Subservicing Agreement \| OneMain Financial Holdings, LLC
Related Party Transaction [Line Items]
Recognized revenue from related party		0.2	$ 0.5	1.0	$ 1.0
Subsidiary of New Residential \| Loan Subservicing Agreement
Related Party Transaction [Line Items]
UPB subserviced		107,000.0		107,000.0		$ 111,000.0
Subsidiary of New Residential \| Loan Subservicing Agreement \| Agency MSRs
Related Party Transaction [Line Items]
UPB subserviced						$ 97,000.0
UPB subserviced boarded through 4th quarter		$ 29,000.0		$ 72,000.0
Forecast \| Subsidiary of New Residential \| Loan Subservicing Agreement \| Agency MSRs
Related Party Transaction [Line Items]
UPB subserviced boarded through 4th quarter	$ 35,000.0