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Business Segment Reporting | 9 Months Ended
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Sep. 30, 2018
Segment Reporting [Abstract] |
Business Segment Reporting | 19. Business Segment Reporting Upon consummation of the Merger with Nationstar, the Company has identified four reportable segments: Servicing, Originations, Xome and Corporate and other. The Company's segments are based upon the Company's organizational structure, which focuses primarily on the services offered. Corporate functional expenses are allocated to individual segments based on the actual cost of services performed based on direct resource utilization, estimate of percentage use for shared services or headcount percentage for certain functions. Facility costs are allocated to individual segments based on cost per headcount for specific facilities utilized. Group insurance costs are allocated to individual segments based on global cost per headcount. Non-Allocated corporate expenses include the administrative costs of executive management and other corporate functions that are not directly attributable to our operating segments. Revenues generated on inter-segment services performed are valued based on similar services provided to external parties. The following tables present financial information by segment.
|  | Successor
|  | For the Period August 1 - September 30, 2018
|  | Servicing |  | Originations |  | Xome |  | Eliminations |  | Total Operating Segments |  | Corporate and Other |  | Consolidated
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service related, net |  | $ | 183 |  |  | $ | 10 |  |  | $ | 73 |  |  | $ | (7 | ) |  | $ | 259 |  |  | $ | — |  |  | $ | 259 |
Net gain on mortgage loans held for sale |  | — |  |  | 76 |  |  | — |  |  | 7 |  |  | 83 |  |  | — |  |  | 83 |
Total revenues |  | 183 |  |  | 86 |  |  | 73 |  |  | — |  |  | 342 |  |  | — |  |  | 342 |
Total Expenses |  | 104 |  |  | 66 |  |  | 71 |  |  | — |  |  | 241 |  |  | 34 |  |  | 275 |
Other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | 78 |  |  | 10 |  |  | — |  |  | — |  |  | 88 |  |  | 2 |  |  | 90 |
Interest expense |  | (74 | ) |  | (10 | ) |  | (1 | ) |  | — |  |  | (85 | ) |  | (37 | ) |  | (122 | )
Other |  | 5 |  |  | 1 |  |  | — |  |  | — |  |  | 6 |  |  | — |  |  | 6 |
Total Other Income (expenses), net |  | 9 |  |  | 1 |  |  | (1 | ) |  | — |  |  | 9 |  |  | (35 | ) |  | (26 | )
Income (loss) before income tax expense (benefit) |  | $ | 88 |  |  | $ | 21 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 110 |  |  | $ | (69 | ) |  | $ | 41 |
Depreciation and amortization for property and equipment and intangible assets |  | $ | 4 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 8 |  |  | $ | 7 |  |  | $ | 15 |
Total assets |  | $ | 14,166 |  |  | $ | 4,892 |  |  | $ | 457 |  |  | $ | (3,532 | ) |  | $ | 15,983 |  |  | $ | 1,745 |  |  | $ | 17,728 |
|  | Predecessor
|  | For the Period July 1 - July 31, 2018
|  | Servicing |  | Originations |  | Xome |  | Eliminations |  | Total Operating Segments |  | Corporate and Other |  | Consolidated
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service related, net |  | $ | 97 |  |  | $ | 4 |  |  | $ | 22 |  |  | $ | (3 | ) |  | $ | 120 |  |  | $ | — |  |  | $ | 120 |
Net gain on mortgage loans held for sale |  | — |  |  | 41 |  |  | — |  |  | 3 |  |  | 44 |  |  | — |  |  | 44 |
Total revenues |  | 97 |  |  | 45 |  |  | 22 |  |  | — |  |  | 164 |  |  | — |  |  | 164 |
Total Expenses |  | 126 |  |  | 34 |  |  | 19 |  |  | — |  |  | 179 |  |  | 63 |  |  | 242 |
Other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | 41 |  |  | 6 |  |  | — |  |  | — |  |  | 47 |  |  | 1 |  |  | 48 |
Interest expense |  | (35 | ) |  | (6 | ) |  | — |  |  | — |  |  | (41 | ) |  | (12 | ) |  | (53 | )
Other |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total Other Income (expenses), net |  | 6 |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | (11 | ) |  | (5 | )
Income (loss) before income tax expense (benefit) |  | $ | (23 | ) |  | $ | 11 |  |  | $ | 3 |  |  | $ | — |  |  | $ | (9 | ) |  | $ | (74 | ) |  | $ | (83 | )
Depreciation and amortization for property and equipment and intangible assets |  | $ | 2 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | 4 |
Total assets |  | $ | 14,578 |  |  | $ | 4,701 |  |  | $ | 425 |  |  | $ | (3,591 | ) |  | $ | 16,113 |  |  | $ | 913 |  |  | $ | 17,026 |
|  | Predecessor
|  | 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 |  | 143 |  |  | 14 |  |  | — |  |  | — |  |  | 157 |  |  | 2 |  |  | 159 |
Interest expense |  | (132 | ) |  | (13 | ) |  | — |  |  | — |  |  | (145 | ) |  | (38 | ) |  | (183 | )
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 for property and equipment and intangible assets |  | $ | 6 |  |  | $ | 3 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 12 |  |  | $ | 3 |  |  | $ | 15 |
Total assets |  | $ | 15,147 |  |  | $ | 4,644 |  |  | $ | 382 |  |  | $ | (2,948 | ) |  | $ | 17,225 |  |  | $ | 779 |  |  | $ | 18,004 |
|  | Predecessor
|  | For the Period January 1 - July 31, 2018
|  | Servicing |  | Originations |  | Xome |  | Eliminations |  | Total Operating Segments |  | Corporate and Other |  | Consolidated
Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service related, net |  | $ | 740 |  |  | $ | 36 |  |  | $ | 149 |  |  | $ | (25 | ) |  | $ | 900 |  |  | $ | 1 |  |  | $ | 901 |
Net gain on mortgage loans held for sale |  | — |  |  | 270 |  |  | — |  |  | 25 |  |  | 295 |  |  | — |  |  | 295 |
Total revenues |  | 740 |  |  | 306 |  |  | 149 |  |  | — |  |  | 1,195 |  |  | 1 |  |  | 1,196 |
Total expenses |  | 474 |  |  | 245 |  |  | 123 |  |  | — |  |  | 842 |  |  | 103 |  |  | 945 |
Other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | 288 |  |  | 38 |  |  | — |  |  | — |  |  | 326 |  |  | 7 |  |  | 333 |
Interest expense |  | (268 | ) |  | (37 | ) |  | — |  |  | — |  |  | (305 | ) |  | (83 | ) |  | (388 | )
Other |  | (1 | ) |  | — |  |  | 9 |  |  | — |  |  | 8 |  |  | (2 | ) |  | 6 |
Total other income (expenses), net |  | 19 |  |  | 1 |  |  | 9 |  |  | — |  |  | 29 |  |  | (78 | ) |  | (49 | )
Income (loss) before income tax expense (benefit) |  | $ | 285 |  |  | $ | 62 |  |  | $ | 35 |  |  | $ | — |  |  | $ | 382 |  |  | $ | (180 | ) |  | $ | 202 |
Depreciation and amortization for property and equipment and intangible assets |  | $ | 15 |  |  | $ | 7 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 29 |  |  | $ | 4 |  |  | $ | 33 |
Total assets |  | $ | 14,578 |  |  | $ | 4,701 |  |  | $ | 425 |  |  | $ | (3,591 | ) |  | $ | 16,113 |  |  | $ | 913 |  |  | $ | 17,026 |
|  | Predecessor
|  | 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 |  | 513 |  |  | 326 |  |  | 193 |  |  | — |  |  | 1,032 |  |  | 72 |  |  | 1,104 |
Other income (expenses) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  | 386 |  |  | 39 |  |  | — |  |  | — |  |  | 425 |  |  | 12 |  |  | 437 |
Interest expense |  | (409 | ) |  | (39 | ) |  | — |  |  | — |  |  | (448 | ) |  | (116 | ) |  | (564 | )
Other |  | (2 | ) |  | — |  |  | 8 |  |  | — |  |  | 6 |  |  | (2 | ) |  | 4 |
Total other income (expenses), net |  | (25 | ) |  | — |  |  | 8 |  |  | — |  |  | (17 | ) |  | (106 | ) |  | (123 | )
Income (loss) before income tax expense (benefit) |  | $ | (1 | ) |  | $ | 123 |  |  | $ | 41 |  |  | $ | — |  |  | $ | 163 |  |  | $ | (177 | ) |  | $ | (14 | )
Depreciation and amortization for property and equipment and intangible assets |  | $ | 16 |  |  | $ | 8 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 34 |  |  | $ | 10 |  |  | $ | 44 |
Total assets |  | $ | 15,147 |  |  | $ | 4,644 |  |  | $ | 382 |  |  | $ | (2,948 | ) |  | $ | 17,225 |  |  | $ | 779 |  |  | $ | 18,004 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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