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Guarantor Financial Statement Information | 9 Months Ended
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Sep. 30, 2018
Condensed Financial Information Disclosure [Abstract] |
Guarantor Financial Statement Information | 20. Guarantor Financial Statement Information As of September 30, 2018, Nationstar Mortgage LLC and Nationstar Capital Corporation(1) (collectively, the "Issuer"), both indirect wholly-owned subsidiaries of the Company, have issued a 6.500% senior notes due July 2021 with an outstanding aggregate principal amount of $592 and a 6.500% senior notes due June 2022 with an outstanding aggregate principal amount of $206, (collectively, the "unsecured senior notes"). The unsecured senior notes are unconditionally guaranteed, jointly and severally, by all of Nationstar Mortgage LLC’s existing and future domestic subsidiaries other than its securitization and certain finance subsidiaries excluded restricted subsidiaries and subsidiaries that in the future Nationstar Mortgage LLC designates as unrestricted subsidiaries. All guarantor subsidiaries are 100% owned by Nationstar Mortgage LLC. The Company and its three wholly-owned subsidiaries (which are holding companies above Nationstar Mortgage LLC) are guarantors of the unsecured senior notes as well. Presented below are the condensed consolidating financial statements of the Company, Nationstar Mortgage LLC and the guarantor and non-guarantor subsidiaries for the periods indicated. In the condensed consolidating financial statements presented below, the Company allocates income tax expense to Nationstar Mortgage LLC as if it were a separate tax payer entity pursuant to ASC 740, Income Taxes. (1) Nationstar Capital Corporation has no assets, operations or liabilities other than being a co-obligor of the unsecured senior notes.
MR. COOPER GROUP INC. CONSOLIDATING BALANCE SHEET SEPTEMBER 30, 2018
| Successor
| Mr. Cooper |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 5 |  |  | $ | 164 |  |  | $ | 1 |  |  | $ | 28 |  |  | $ | — |  |  | $ | 198 |
Restricted cash | — |  |  | 168 |  |  | — |  |  | 164 |  |  | — |  |  | 332 |
Mortgage servicing rights | — |  |  | 3,462 |  |  | — |  |  | 38 |  |  | — |  |  | 3,500 |
Advances and other receivables, net | — |  |  | 1,174 |  |  | — |  |  | — |  |  | — |  |  | 1,174 |
Reverse mortgage interests, net | — |  |  | 7,764 |  |  | — |  |  | 1,122 |  |  | — |  |  | 8,886 |
Mortgage loans held for sale at fair value | — |  |  | 1,681 |  |  | — |  |  | — |  |  | — |  |  | 1,681 |
Mortgage loans held for investment, net | — |  |  | 1 |  |  | — |  |  | 121 |  |  | — |  |  | 122 |
Property and equipment, net | — |  |  | 85 |  |  | — |  |  | 17 |  |  | — |  |  | 102 |
Deferred tax asset | 990 |  |  | (49 | ) |  | — |  |  | (7 | ) |  | — |  |  | 934 |
Other assets | 1 |  |  | 671 |  |  | 197 |  |  | 616 |  |  | (686 | ) |  | 799 |
Investment in subsidiaries | 2,916 |  |  | 586 |  |  | — |  |  | — |  |  | (3,502 | ) |  | — |
Total assets | $ | 3,912 |  |  | $ | 15,707 |  |  | $ | 198 |  |  | $ | 2,099 |  |  | $ | (4,188 | ) |  | $ | 17,728 |
Liabilities and Stockholders' Equity |  |  |  |  |  |  |  |  |  |  |
Unsecured senior notes, net | $ | 1,658 |  |  | $ | 799 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,457 |
Advance facilities, net | — |  |  | 33 |  |  | — |  |  | 563 |  |  | — |  |  | 596 |
Warehouse facilities, net | — |  |  | 2,888 |  |  | — |  |  | — |  |  | — |  |  | 2,888 |
Payables and accrued liabilities | 32 |  |  | 1,244 |  |  | 2 |  |  | 64 |  |  | — |  |  | 1,342 |
MSR related liabilities - nonrecourse at fair value | — |  |  | 1,103 |  |  | — |  |  | 20 |  |  | — |  |  | 1,123 |
Mortgage servicing liabilities | — |  |  | 79 |  |  | — |  |  | — |  |  | — |  |  | 79 |
Other nonrecourse debt, net | — |  |  | 6,103 |  |  | — |  |  | 1,062 |  |  | — |  |  | 7,165 |
Payables to affiliates | 144 |  |  | 542 |  |  | — |  |  | — |  |  | (686 | ) |  | — |
Total liabilities | 1,834 |  |  | 12,791 |  |  | 2 |  |  | 1,709 |  |  | (686 | ) |  | 15,650 |
Total stockholders' equity | 2,078 |  |  | 2,916 |  |  | 196 |  |  | 390 |  |  | (3,502 | ) |  | 2,078 |
Total liabilities and stockholders' equity | $ | 3,912 |  |  | $ | 15,707 |  |  | $ | 198 |  |  | $ | 2,099 |  |  | $ | (4,188 | ) |  | $ | 17,728 |
(1) Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS FOR THE PERIOD AUGUST 1 TO SEPTEMBER 30, 2018
| Successor
| Mr. Cooper |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |
Service related, net | $ | — |  |  | $ | 183 |  |  | $ | 4 |  |  | $ | 72 |  |  | $ | — |  |  | $ | 259 |
Net gain on mortgage loans held for sale | — |  |  | 83 |  |  | — |  |  | — |  |  | — |  |  | 83 |
Total revenues | — |  |  | 266 |  |  | 4 |  |  | 72 |  |  | — |  |  | 342 |
Expenses: |  |  |  |  |  |  |  |  |  |  |
Salaries, wages benefits | — |  |  | 107 |  |  | 1 |  |  | 31 |  |  | — |  |  | 139 |
General and administrative | 1 |  |  | 91 |  |  | 1 |  |  | 43 |  |  | — |  |  | 136 |
Total expenses | 1 |  |  | 198 |  |  | 2 |  |  | 74 |  |  | — |  |  | 275 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |
Interest income | — |  |  | 80 |  |  | — |  |  | 10 |  |  | — |  |  | 90 |
Interest expense | (26 | ) |  | (87 | ) |  | — |  |  | (9 | ) |  | — |  |  | (122 | )
Other income (expenses) | 1 |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 6 |
Gain (loss) from subsidiaries | 56 |  |  | 1 |  |  | — |  |  | — |  |  | (57 | ) |  | — |
Total other income (expenses), net | 31 |  |  | (1 | ) |  | — |  |  | 1 |  |  | (57 | ) |  | (26 | )
Income (loss) before income tax expense (benefit) | 30 |  |  | 67 |  |  | 2 |  |  | (1 | ) |  | (57 | ) |  | 41 |
Less: Income tax expense (benefit) | (990 | ) |  | 11 |  |  | — |  |  | — |  |  | — |  |  | (979 | )
Net income (loss) | 1,020 |  |  | 56 |  |  | 2 |  |  | (1 | ) |  | (57 | ) |  | 1,020 |
Less: Net income attributable to non-controlling interests | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) attributable to Nationstar | $ | 1,020 |  |  | $ | 56 |  |  | $ | 2 |  |  | $ | (1 | ) |  | $ | (57 | ) |  | $ | 1,020 |
(1) Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS FOR THE PERIOD JULY 1 TO JULY 31, 2018
| Predecessor
| Nationstar |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |
Service related, net | $ | — |  |  | $ | 95 |  |  | $ | 3 |  |  | $ | 22 |  |  | $ | — |  |  | $ | 120 |
Net gain on mortgage loans held for sale | — |  |  | 44 |  |  | — |  |  | — |  |  | — |  |  | 44 |
Total revenues | — |  |  | 139 |  |  | 3 |  |  | 22 |  |  | — |  |  | 164 |
Expenses: |  |  |  |  |  |  |  |  |  |  |
Salaries, wages benefits | — |  |  | 59 |  |  | — |  |  | 10 |  |  | — |  |  | 69 |
General and administrative | 27 |  |  | 136 |  |  | — |  |  | 10 |  |  | — |  |  | 173 |
Total expenses | 27 |  |  | 195 |  |  | — |  |  | 20 |  |  | — |  |  | 242 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |
Interest income | — |  |  | 41 |  |  | — |  |  | 7 |  |  | — |  |  | 48 |
Interest expense | — |  |  | (49 | ) |  | — |  |  | (4 | ) |  | — |  |  | (53 | )
Other income (expenses) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Gain (loss) from subsidiaries | (37 | ) |  | 7 |  |  | — |  |  | — |  |  | 30 |  |  | — |
Total other income (expenses), net | (37 | ) |  | (1 | ) |  | — |  |  | 3 |  |  | 30 |  |  | (5 | )
Income (loss) before income tax expense (benefit) | (64 | ) |  | (57 | ) |  | 3 |  |  | 5 |  |  | 30 |  |  | (83 | )
Less: Income tax expense (benefit) | — |  |  | (20 | ) |  | — |  |  | 1 |  |  | — |  |  | (19 | )
Net income (loss) | (64 | ) |  | (37 | ) |  | 3 |  |  | 4 |  |  | 30 |  |  | (64 | )
Less: Net income attributable to non-controlling interests | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) attributable to Nationstar | $ | (64 | ) |  | $ | (37 | ) |  | $ | 3 |  |  | $ | 4 |  |  | $ | 30 |  |  | $ | (64 | )
(1) Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS FOR THE PERIOD JANUARY 1 TO JULY 31, 2018
| Predecessor
| Nationstar |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |
Service related, net | $ | — |  |  | $ | 732 |  |  | $ | 16 |  |  | $ | 153 |  |  | $ | — |  |  | $ | 901 |
Net gain on mortgage loans held for sale | — |  |  | 295 |  |  | — |  |  | — |  |  | — |  |  | 295 |
Total revenues | — |  |  | 1,027 |  |  | 16 |  |  | 153 |  |  | — |  |  | 1,196 |
Expenses: |  |  |  |  |  |  |  |  |  |  |
Salaries, wages benefits | — |  |  | 359 |  |  | 3 |  |  | 64 |  |  | — |  |  | 426 |
General and administrative | 27 |  |  | 427 |  |  | 1 |  |  | 64 |  |  | — |  |  | 519 |
Total expenses | 27 |  |  | 786 |  |  | 4 |  |  | 128 |  |  | — |  |  | 945 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |
Interest income | — |  |  | 299 |  |  | — |  |  | 34 |  |  | — |  |  | 333 |
Interest expense | — |  |  | (364 | ) |  | — |  |  | (24 | ) |  | — |  |  | (388 | )
Other income (expense) | — |  |  | (3 | ) |  | — |  |  | 9 |  |  | — |  |  | 6 |
Gain (loss) from subsidiaries | 181 |  |  | 56 |  |  | — |  |  | — |  |  | (237 | ) |  | — |
Total other income (expenses), net | 181 |  |  | (12 | ) |  | — |  |  | 19 |  |  | (237 | ) |  | (49 | )
Income (loss) before income tax expense (benefit) | 154 |  |  | 229 |  |  | 12 |  |  | 44 |  |  | (237 | ) |  | 202 |
Less: income tax expense (benefit) | — |  |  | 48 |  |  | — |  |  | — |  |  | — |  |  | 48 |
Net income (loss) | 154 |  |  | 181 |  |  | 12 |  |  | 44 |  |  | (237 | ) |  | 154 |
Less: net loss attributable to noncontrolling interests | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) attributable to Nationstar | $ | 154 |  |  | $ | 181 |  |  | $ | 12 |  |  | $ | 44 |  |  | $ | (237 | ) |  | $ | 154 |
(1) Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE PERIOD AUGUST 1 TO SEPTEMBER 30, 2018
| Successor
| Mr. Cooper |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Operating Activities |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Nationstar | $ | 1,020 |  |  | $ | 56 |  |  | $ | 2 |  |  | $ | (1 | ) |  | $ | (57 | ) |  | $ | 1,020 |
Adjustments to reconcile net income (loss) to net cash attributable to operating activities: |  |  |  |  |  |  |  |  |  |  |
Deferred tax | (990 | ) |  | 52 |  |  | — |  |  | 7 |  |  | — |  |  | (931 | )
(Gain) loss from subsidiaries | (56 | ) |  | (1 | ) |  | — |  |  | — |  |  | 57 |  |  | — |
Net gain on mortgage loans held for sale | — |  |  | (83 | ) |  | — |  |  | — |  |  | — |  |  | (83 | )
Reverse mortgage loan interest income | — |  |  | (72 | ) |  | — |  |  | — |  |  | — |  |  | (72 | )
Provision for servicing reserves | — |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  | 14 |
Fair value changes and amortization of mortgage servicing rights | — |  |  | (27 | ) |  | — |  |  | — |  |  | — |  |  | (27 | )
Fair value changes in excess spread financing | — |  |  | 26 |  |  | — |  |  | — |  |  | — |  |  | 26 |
Amortization of premiums, net of discount accretion | 1 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 3 |
Depreciation and amortization for property and equipment and intangible assets | — |  |  | 13 |  |  | — |  |  | 2 |  |  | — |  |  | 15 |
Share-based compensation | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |
Repurchases of forward loans assets out of Ginnie Mae securitizations | — |  |  | (223 | ) |  | — |  |  | — |  |  | — |  |  | (223 | )
Mortgage loans originated and purchased for sale, net of fees | — |  |  | (3,458 | ) |  | — |  |  | — |  |  | — |  |  | (3,458 | )
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment | — |  |  | 3,537 |  |  | — |  |  | 9 |  |  | — |  |  | 3,546 |
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |  |  |
Advances and other receivables | — |  |  | 76 |  |  | — |  |  | — |  |  | — |  |  | 76 |
Reverse mortgage interests | — |  |  | 425 |  |  | — |  |  | 17 |  |  | — |  |  | 442 |
Other assets | — |  |  | 25 |  |  | (3 | ) |  | (37 | ) |  | — |  |  | (15 | )
Payables and accrued liabilities | 19 |  |  | (179 | ) |  | 1 |  |  | — |  |  | — |  |  | (159 | )
Net cash attributable to operating activities | (6 | ) |  | 185 |  |  | — |  |  | (3 | ) |  | — |  |  | 176 |
(1) Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE PERIOD AUGUST 1 TO SEPTEMBER 30, 2018 (Continued)
| Successor
| Mr. Cooper |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Investing Activities |  |  |  |  |  |  |  |  |  |  |
Acquisition, net of cash acquired | — |  |  | — |  |  | — |  |  | (33 | ) |  | — |  |  | (33 | )
Property and equipment additions, net of disposals | — |  |  | (20 | ) |  | — |  |  | 6 |  |  | — |  |  | (14 | )
Purchase of forward mortgage servicing rights, net of liabilities incurred | — |  |  | (63 | ) |  | — |  |  | — |  |  | — |  |  | (63 | )
Proceeds on sale of forward and reverse mortgage servicing rights | — |  |  | 60 |  |  | — |  |  | — |  |  | — |  |  | 60 |
Net cash attributable to investing activities | — |  |  | (23 | ) |  | — |  |  | (27 | ) |  | — |  |  | (50 | )
Financing Activities |  |  |  |  |  |  |  |  |  |  |
Increase in warehouse facilities | — |  |  | 186 |  |  | — |  |  | — |  |  | — |  |  | 186 |
(Decrease) increase in advance facilities | — |  |  | (17 | ) |  | — |  |  | 63 |  |  | — |  |  | 46 |
Repayment of HECM securitizations | — |  |  | — |  |  | — |  |  | (91 | ) |  | — |  |  | (91 | )
Proceeds from issuance of participating interest financing in reverse mortgage interests | — |  |  | 45 |  |  | — |  |  | — |  |  | — |  |  | 45 |
Repayment of participating interest financing in reverse mortgage interests | — |  |  | (403 | ) |  | — |  |  | — |  |  | — |  |  | (403 | )
Proceeds from issuance of excess spread financing | — |  |  | 84 |  |  | — |  |  | — |  |  | — |  |  | 84 |
Repayment of excess spread financing | — |  |  | (21 | ) |  | — |  |  | — |  |  | — |  |  | (21 | )
Settlement of excess spread financing | — |  |  | (31 | ) |  | — |  |  | — |  |  | — |  |  | (31 | )
Repayment of nonrecourse debt - legacy assets | — |  |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
Redemption and repayment of unsecured senior notes | — |  |  | (1,030 | ) |  | — |  |  | — |  |  | — |  |  | (1,030 | )
Debt financing costs | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Net cash attributable to financing activities | — |  |  | (1,188 | ) |  | — |  |  | (31 | ) |  | — |  |  | (1,219 | )
Net decrease in cash, cash equivalents, and restricted cash | (6 | ) |  | (1,026 | ) |  | — |  |  | (61 | ) |  | — |  |  | (1,093 | )
Cash, cash equivalents, and restricted cash - beginning of period | 11 |  |  | 1,358 |  |  | 1 |  |  | 253 |  |  | — |  |  | 1,623 |
Cash, cash equivalents, and restricted cash - end of period | $ | 5 |  |  | $ | 332 |  |  | $ | 1 |  |  | $ | 192 |  |  | $ | — |  |  | $ | 530 |
(1) Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE PERIOD JANUARY 1 TO JULY 31, 2018
| Predecessor
| Nationstar |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Operating Activities |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Nationstar | $ | 154 |  |  | $ | 181 |  |  | $ | 12 |  |  | $ | 44 |  |  | $ | (237 | ) |  | $ | 154 |
Adjustments to reconcile net income (loss) to net cash attributable to operating activities: |  |  |  |  |  |  |  |  |  |  |
(Gain) loss from subsidiaries | (181 | ) |  | (56 | ) |  | — |  |  | — |  |  | 237 |  |  | — |
Net gain on mortgage loans held for sale | — |  |  | (295 | ) |  | — |  |  | — |  |  | — |  |  | (295 | )
Reverse mortgage loan interest income | — |  |  | (274 | ) |  | — |  |  | — |  |  | — |  |  | (274 | )
Gain on sale of assets | — |  |  | — |  |  | — |  |  | (9 | ) |  | — |  |  | (9 | )
MSL related increased obligation | — |  |  | 59 |  |  | — |  |  | — |  |  | — |  |  | 59 |
Provision for servicing reserves | — |  |  | 70 |  |  | — |  |  | — |  |  | — |  |  | 70 |
Fair value changes and amortization of mortgage servicing rights | — |  |  | (178 | ) |  | — |  |  | 1 |  |  | — |  |  | (177 | )
Fair value changes in excess spread financing | — |  |  | 81 |  |  | — |  |  | — |  |  | — |  |  | 81 |
Fair value changes in mortgage servicing rights financing liability | — |  |  | 16 |  |  | — |  |  | — |  |  | — |  |  | 16 |
Amortization of premiums, net of discount accretion | — |  |  | 11 |  |  | — |  |  | (3 | ) |  | — |  |  | 8 |
Depreciation and amortization for property and equipment and intangible assets | — |  |  | 26 |  |  | — |  |  | 7 |  |  | — |  |  | 33 |
Share-based compensation | — |  |  | 16 |  |  | — |  |  | 1 |  |  | — |  |  | 17 |
Other (gain) loss | — |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | 3 |
Repurchases of forward loans assets out of Ginnie Mae securitizations | — |  |  | (544 | ) |  | — |  |  | — |  |  | — |  |  | (544 | )
Mortgage loans originated and purchased for sale, net of fees | — |  |  | (12,328 | ) |  | — |  |  | — |  |  | — |  |  | (12,328 | )
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment | — |  |  | 13,381 |  |  | — |  |  | 11 |  |  | — |  |  | 13,392 |
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |  |  |
Advances and other receivables | — |  |  | 377 |  |  | — |  |  | — |  |  | — |  |  | 377 |
Reverse mortgage interests | — |  |  | 1,866 |  |  | — |  |  | (265 | ) |  | — |  |  | 1,601 |
Other assets | 9 |  |  | (293 | ) |  | (12 | ) |  | 255 |  |  | — |  |  | (41 | )
Payables and accrued liabilities | 27 |  |  | 128 |  |  | — |  |  | (4 | ) |  | — |  |  | 151 |
Net cash attributable to operating activities | 9 |  |  | 2,247 |  |  | — |  |  | 38 |  |  | — |  |  | 2,294 |
(1) Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE PERIOD JANUARY 1 TO JULY 31, 2018 (Continued)
| Predecessor
| Nationstar |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Investing Activities |  |  |  |  |  |  |  |  |  |  |
Property and equipment additions, net of disposals | — |  |  | (35 | ) |  | — |  |  | (5 | ) |  | — |  |  | (40 | )
Purchase of forward mortgage servicing rights, net of liabilities incurred | — |  |  | (127 | ) |  | — |  |  | (7 | ) |  | — |  |  | (134 | )
Net payment related to acquisition of HECM related receivables | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Proceeds on sale of assets | — |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 13 |
Net cash attributable to investing activities | — |  |  | (163 | ) |  | — |  |  | 1 |  |  | — |  |  | (162 | )
Financing Activities |  |  |  |  |  |  |  |  |  |  |
Decrease in warehouse facilities | — |  |  | (585 | ) |  | — |  |  | — |  |  | — |  |  | (585 | )
Decrease in advance facilities | — |  |  | (55 | ) |  | — |  |  | (250 | ) |  | — |  |  | (305 | )
Proceeds from issuance of HECM securitizations | — |  |  | — |  |  | — |  |  | 759 |  |  | — |  |  | 759 |
Repayment of HECM securitizations | — |  |  | — |  |  | — |  |  | (448 | ) |  | — |  |  | (448 | )
Proceeds from issuance of participating interest financing in reverse mortgage interests | — |  |  | 208 |  |  | — |  |  | — |  |  | — |  |  | 208 |
Repayment of participating interest financing in reverse mortgage interests | — |  |  | (1,599 | ) |  | — |  |  | — |  |  | — |  |  | (1,599 | )
Proceeds from issuance of excess spread financing | — |  |  | 70 |  |  | — |  |  | — |  |  | — |  |  | 70 |
Repayment of excess spread financing | — |  |  | (3 | ) |  | — |  |  | — |  |  | — |  |  | (3 | )
Settlement of excess spread financing | — |  |  | (105 | ) |  | — |  |  | — |  |  | — |  |  | (105 | )
Repayment of nonrecourse debt - legacy assets | — |  |  | — |  |  | — |  |  | (7 | ) |  | — |  |  | (7 | )
Repurchase of unsecured senior notes | — |  |  | (62 | ) |  | — |  |  | — |  |  | — |  |  | (62 | )
Surrender of shares relating to stock vesting | (9 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (9 | )
Debt financing costs | — |  |  | (24 | ) |  | — |  |  | — |  |  | — |  |  | (24 | )
Dividends to non-controlling interests | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Net cash attributable to financing activities | (9 | ) |  | (2,156 | ) |  | — |  |  | 54 |  |  | — |  |  | (2,111 | )
Net (decrease) increase in cash, cash equivalents, and restricted cash | — |  |  | (72 | ) |  | — |  |  | 93 |  |  | — |  |  | 21 |
Cash, cash equivalents, and restricted cash - beginning of period | — |  |  | 423 |  |  | 1 |  |  | 151 |  |  | — |  |  | 575 |
Cash, cash equivalents, and restricted cash - end of period | $ | — |  |  | $ | 351 |  |  | $ | 1 |  |  | $ | 244 |  |  | $ | — |  |  | $ | 596 |
(1) Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2017
| Predecessor
| Nationstar |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 195 |  |  | $ | 1 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 215 |
Restricted cash | — |  |  | 228 |  |  | — |  |  | 132 |  |  | — |  |  | 360 |
Mortgage servicing rights | — |  |  | 2,910 |  |  | — |  |  | 31 |  |  | — |  |  | 2,941 |
Advances and other receivables, net | — |  |  | 1,706 |  |  | — |  |  | — |  |  | — |  |  | 1,706 |
Reverse mortgage interests, net | — |  |  | 9,110 |  |  | — |  |  | 874 |  |  | — |  |  | 9,984 |
Mortgage loans held for sale at fair value | — |  |  | 1,891 |  |  | — |  |  | — |  |  | — |  |  | 1,891 |
Mortgage loans held for investment, net | — |  |  | 1 |  |  | — |  |  | 138 |  |  | — |  |  | 139 |
Property and equipment, net | — |  |  | 102 |  |  | — |  |  | 19 |  |  | — |  |  | 121 |
Other assets | — |  |  | 585 |  |  | 182 |  |  | 779 |  |  | (867 | ) |  | 679 |
Investment in subsidiaries | 1,846 |  |  | 522 |  |  | — |  |  | — |  |  | (2,368 | ) |  | — |
Total assets | $ | 1,846 |  |  | $ | 17,250 |  |  | $ | 183 |  |  | $ | 1,992 |  |  | $ | (3,235 | ) |  | $ | 18,036 |
Liabilities and Stockholders' Equity |  |  |  |  |  |  |  |  |  |  |
Unsecured senior notes, net | $ | — |  |  | $ | 1,874 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,874 |
Advance facilities, net | — |  |  | 106 |  |  | — |  |  | 749 |  |  | — |  |  | 855 |
Warehouse facilities, net | — |  |  | 3,285 |  |  | — |  |  | — |  |  | — |  |  | 3,285 |
Payables and accrued liabilities | — |  |  | 1,202 |  |  | 1 |  |  | 36 |  |  | — |  |  | 1,239 |
MSR related liabilities - nonrecourse at fair value | — |  |  | 987 |  |  | — |  |  | 19 |  |  | — |  |  | 1,006 |
Mortgage servicing liabilities | — |  |  | 41 |  |  | — |  |  | — |  |  | — |  |  | 41 |
Other nonrecourse debt, net | — |  |  | 7,167 |  |  | — |  |  | 847 |  |  | — |  |  | 8,014 |
Payables to affiliates | 124 |  |  | 742 |  |  | — |  |  | 1 |  |  | (867 | ) |  | — |
Total liabilities | 124 |  |  | 15,404 |  |  | 1 |  |  | 1,652 |  |  | (867 | ) |  | 16,314 |
Total stockholders' equity | 1,722 |  |  | 1,846 |  |  | 182 |  |  | 340 |  |  | (2,368 | ) |  | 1,722 |
Total liabilities and stockholders' equity | $ | 1,846 |  |  | $ | 17,250 |  |  | $ | 183 |  |  | $ | 1,992 |  |  | $ | (3,235 | ) |  | $ | 18,036 |
(1) Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2017
| Predecessor
| 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 and benefits | — |  |  | 153 |  |  | 1 |  |  | 29 |  |  | — |  |  | 183 |
General and administrative | — |  |  | 154 |  |  | 4 |  |  | 27 |  |  | — |  |  | 185 |
Total expenses | — |  |  | 307 |  |  | 5 |  |  | 56 |  |  | — |  |  | 368 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |
Interest income | — |  |  | 147 |  |  | — |  |  | 12 |  |  | — |  |  | 159 |
Interest expense | — |  |  | (170 | ) |  | — |  |  | (13 | ) |  | — |  |  | (183 | )
Other expenses | — |  |  | (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 benefit | — |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 5 |
Net income (loss) | 7 |  |  | 7 |  |  | 2 |  |  | 9 |  |  | (18 | ) |  | 7 |
Less: Net income attributable to non-controlling 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.
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS NINE MONTHS ENDED SEPTEMBER 30, 2017
| Predecessor
| 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 and benefits | — |  |  | 451 |  |  | 3 |  |  | 103 |  |  | — |  |  | 557 |
General and administrative | — |  |  | 435 |  |  | 10 |  |  | 102 |  |  | — |  |  | 547 |
Total expenses | — |  |  | 886 |  |  | 13 |  |  | 205 |  |  | — |  |  | 1,104 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |
Interest income | — |  |  | 398 |  |  | — |  |  | 39 |  |  | — |  |  | 437 |
Interest expense | — |  |  | (522 | ) |  | — |  |  | (42 | ) |  | — |  |  | (564 | )
Other expense | — |  |  | (5 | ) |  | — |  |  | 9 |  |  | — |  |  | 4 |
Gain (loss) from subsidiaries | (11 | ) |  | 40 |  |  | — |  |  | — |  |  | (29 | ) |  | — |
Total other income (expenses), net | (11 | ) |  | (89 | ) |  | — |  |  | 6 |  |  | (29 | ) |  | (123 | )
Income (loss) before taxes | (11 | ) |  | (14 | ) |  | 8 |  |  | 32 |  |  | (29 | ) |  | (14 | )
Income tax benefit | — |  |  | (4 | ) |  | — |  |  | — |  |  | — |  |  | (4 | )
Net income (loss) | (11 | ) |  | (10 | ) |  | 8 |  |  | 32 |  |  | (29 | ) |  | (10 | )
Less: net income attributable to non-controlling 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.
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2017
|  | Predecessor
|  | 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 | )
Adjustments to reconcile net income (loss) to net cash attributable to operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to non-controlling interests |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1 |
(Gain) loss from subsidiaries |  | 11 |  |  | (40 | ) |  | — |  |  | — |  |  | 29 |  |  | — |
Net gain on mortgage loans held for sale |  | — |  |  | (464 | ) |  | — |  |  | (1 | ) |  | — |  |  | (465 | )
Reverse mortgage loan interest income |  | — |  |  | (370 | ) |  | — |  |  | — |  |  | — |  |  | (370 | )
(Gain) loss on sale of assets |  | — |  |  | 1 |  |  | — |  |  | (9 | ) |  | — |  |  | (8 | )
Provision for servicing reserves |  | — |  |  | 97 |  |  | — |  |  | — |  |  | — |  |  | 97 |
Fair value changes and amortization of mortgage servicing rights |  | — |  |  | 362 |  |  | — |  |  | — |  |  | — |  |  | 362 |
Fair value changes in excess spread financing |  | — |  |  | 2 |  |  | — |  |  | (2 | ) |  | — |  |  | — |
Fair value changes in mortgage servicing rights financing liability |  | — |  |  | (7 | ) |  | — |  |  | — |  |  | — |  |  | (7 | )
Amortization of premiums, net of discount accretion |  | — |  |  | 55 |  |  | — |  |  | 8 |  |  | — |  |  | 63 |
Depreciation and amortization for property and equipment and intangible assets |  | — |  |  | 33 |  |  | — |  |  | 11 |  |  | — |  |  | 44 |
Share-based compensation |  | — |  |  | 9 |  |  | — |  |  | 4 |  |  | — |  |  | 13 |
Other loss |  | — |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 5 |
Repurchases of forward loans assets out of Ginnie Mae securitizations |  | — |  |  | (943 | ) |  | — |  |  | — |  |  | — |  |  | (943 | )
Mortgage loans originated and purchased for sale, net of fees |  | — |  |  | (14,002 | ) |  | — |  |  | — |  |  | — |  |  | (14,002 | )
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment |  | — |  |  | 15,459 |  |  | — |  |  | 13 |  |  | — |  |  | 15,472 |
Excess tax benefit from share-based compensation |  | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Advances and other receivables |  | — |  |  | 71 |  |  | — |  |  | — |  |  | — |  |  | 71 |
Reverse mortgage interests |  | — |  |  | 1,451 |  |  | — |  |  | (225 | ) |  | — |  |  | 1,226 |
Other assets |  | 4 |  |  | (99 | ) |  | (9 | ) |  | 87 |  |  | — |  |  | (17 | )
Payables and accrued liabilities |  | — |  |  | (273 | ) |  | — |  |  | (11 | ) |  | — |  |  | (284 | )
Net cash attributable to operating activities |  | 4 |  |  | 1,336 |  |  | (1 | ) |  | (93 | ) |  | — |  |  | 1,246 |
(1) Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 2017 (Continued)
|  | Predecessor
|  | Nationstar |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Investing Activities |  |  |  |  |  |  |  |  |  |  |  |
Property and equipment additions, net of disposals |  | — |  |  | (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 issuance of HECM securitizations |  | — |  |  | (1 | ) |  | — |  |  | 707 |  |  | — |  |  | 706 |
Repayment of HECM securitizations |  | — |  |  | — |  |  | — |  |  | (484 | ) |  | — |  |  | (484 | )
Proceeds from issuance of participating interest financing in reverse mortgage interests |  | — |  |  | 437 |  |  | — |  |  | — |  |  | — |  |  | 437 |
Repayment of participating interest financing in reverse mortgage interests |  | — |  |  | (1,928 | ) |  | — |  |  | — |  |  | — |  |  | (1,928 | )
Repayment of excess spread financing |  | — |  |  | (9 | ) |  | — |  |  | — |  |  | — |  |  | (9 | )
Settlement of excess spread financing |  | — |  |  | (159 | ) |  | — |  |  | — |  |  | — |  |  | (159 | )
Repayment of nonrecourse debt - legacy assets |  | — |  |  | — |  |  | — |  |  | (12 | ) |  | — |  |  | (12 | )
Repurchase of unsecured senior notes |  | — |  |  | (122 | ) |  | — |  |  | — |  |  | — |  |  | (122 | )
Surrender of shares relating to stock vesting |  | (4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (4 | )
Debt financing costs |  | — |  |  | (11 | ) |  | — |  |  | — |  |  | — |  |  | (11 | )
Dividends to non-controlling interests |  | — |  |  | (5 | ) |  | — |  |  | — |  |  | — |  |  | (5 | )
Net cash attributable to financing activities |  | (4 | ) |  | (1,540 | ) |  | — |  |  | 6 |  |  | — |  |  | (1,538 | )
Net increase (decrease) in cash, cash equivalents, and restricted cash |  | — |  |  | (200 | ) |  | (1 | ) |  | (96 | ) |  | — |  |  | (297 | )
Cash, cash equivalents, and restricted cash - beginning of period |  | — |  |  | 612 |  |  | 2 |  |  | 263 |  |  | — |  |  | 877 |
Cash, cash equivalents, and restricted cash - end of period |  | $ | — |  |  | $ | 412 |  |  | $ | 1 |  |  | $ | 167 |  |  | $ | — |  |  | $ | 580 |
(1) Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

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