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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2018
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:
| Successor |  |  | Predecessor
For the Period August 1 - December 31, 2018 |  |  | For the Period January 1 - July 31, 2018 |  | Year ended December 31, 2017 |  | Year ended December 31, 2016
Current Income Taxes |  |  |  |  |  |  |  |
Federal | $ | — |  |  |  | $ | (14 | ) |  | $ | 52 |  |  | $ | 14 |
State | — |  |  |  | (1 | ) |  | 7 |  |  | 4 |
Total current income taxes | — |  |  |  | (15 | ) |  | 59 |  |  | 18 |
Deferred Income Taxes |  |  |  |  |  |  |  |
Federal | (1,015 | ) |  |  | 54 |  |  | (43 | ) |  | (4 | )
State | (6 | ) |  |  | 9 |  |  | (3 | ) |  | (1 | )
Total deferred income taxes | (1,021 | ) |  |  | 63 |  |  | (46 | ) |  | (5 | )
Total provision for income taxes | $ | (1,021 | ) |  |  | $ | 48 |  |  | $ | 13 |  |  | $ | 13 |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense differs from the amounts computed by applying the U.S. federal corporate tax rate of 21.0% as follows for the years indicated.
| Successor |  |  | Predecessor
| For the Period August 1 - December 31, 2018 |  |  | For the Period January 1 - July 31, 2018 |  | Year ended December 31, 2017 |  | Year ended December 31, 2016
Tax (Benefit) Expense at Federal Statutory Rate | $ | (29 | ) |  | 21.0 | % |  |  | $ | 42 |  |  | 21.0 | % |  | $ | 15 |  |  | 35.0 | % |  | $ | 10 |  |  | 35.0 | %
Effect of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
State taxes, net of federal benefit | (6 | ) |  | 4.2 | % |  |  | 8 |  |  | 3.8 | % |  | 1 |  |  | 1.9 | % |  | 1 |  |  | 5.0 | %
Non-controlling interests | — |  |  | — | % |  |  | — |  |  | — | % |  | — |  |  | (0.3 | )% |  | 1 |  |  | 3.4 | %
Decrease of federal valuation allowance | (990 | ) |  | 720.0 | % |  |  | — |  |  | — | % |  | (1 | ) |  | (1.2 | )% |  | — |  |  | — | %
Deferred adjustments | 3 |  |  | (1.8 | )% |  |  | (1 | ) |  | (0.5 | )% |  | — |  |  | — | % |  | 1 |  |  | 2.3 | %
Federal tax reform impact | — |  |  | — | % |  |  | — |  |  | — | % |  | (5 | ) |  | (12.6 | )% |  | — |  |  | — | %
Current payable adjustments | — |  |  | — | % |  |  | (1 | ) |  | (0.5 | )% |  | — |  |  | — | % |  | 1 |  |  | 1.9 | %
Adjustments related to uncertain tax positions | — |  |  | — | % |  |  | — |  |  | — | % |  | 1 |  |  | 2.4 | % |  | — |  |  | — | %
Other, net | 1 |  |  | (1.0 | )% |  |  | — |  |  | — | % |  | 2 |  |  | 3.7 | % |  | (1 | ) |  | (2.4 | )%
Total income tax (benefit) expense | $ | (1,021 | ) |  | 742.4 | % |  |  | $ | 48 |  |  | 23.8 | % |  | $ | 13 |  |  | 28.9 | % |  | $ | 13 |  |  | 45.2 | %
Schedule of Deferred Tax Assets and Liabilities | Temporary differences and carryforwards that give rise to deferred tax assets and liabilities are comprised of the following:
| Successor |  |  | Predecessor
| December 31, 2018 |  |  | December 31, 2017
Deferred Tax Assets |  |  |  |
Effect of: |  |  |  |
Loss carryforwards (federal, state and capital) | $ | 1,334 |  |  |  | $ | 37 |
Excess interest expense | 10 |  |  |  | — |
Reverse mortgage interests | 68 |  |  |  | — |
Loss reserves | 69 |  |  |  | 81 |
Reverse mortgage premiums | 1 |  |  |  | 15 |
Rent expense | 1 |  |  |  | 4 |
Restricted share based compensation | 1 |  |  |  | 6 |
Accruals | 14 |  |  |  | 10 |
Partnership interests | 7 |  |  |  | 5 |
Reverse mortgage purchase discount | 1 |  |  |  | 24 |
Goodwill and intangible assets | 4 |  |  |  | — |
Other, net | 5 |  |  |  | 3 |
Total deferred tax assets | 1,515 |  |  |  | 185 |
Deferred Tax Liabilities |  |  |  |
MSR amortization and mark-to-market, net | (243 | ) |  |  | (174 | )
Depreciation and amortization, net | (12 | ) |  |  | (20 | )
Prepaid assets | (1 | ) |  |  | (2 | )
Goodwill and intangible assets | — |  |  |  | (1 | )
Total deferred tax liabilities | (256 | ) |  |  | (197 | )
Valuation allowance | (295 | ) |  |  | (4 | )
Net deferred tax assets (liabilities) | $ | 964 |  |  |  | $ | (16 | )
Schedule of Unrecognized Tax Benefits Roll Forward | The following is a tabular reconciliation of the total amounts of unrecognized tax benefits, excluding interest and penalties.
| Successor |  |  | Predecessor
Unrecognized Tax Benefits | For the Period August 1 - December 31, 2018 |  |  | For the Period January 1 - July 31, 2018 |  | Year ended December 31, 2017 |  | Year ended December 31, 2016
Balance - beginning of period | $ | — |  |  |  | $ | 17 |  |  | $ | — |  |  | $ | — |
Increases in tax positions of current year | — |  |  |  | — |  |  | 1 |  |  | — |
Increases in tax positions of prior years | — |  |  |  | — |  |  | 20 |  |  | — |
Decreases in tax positions of prior years | — |  |  |  | (17 | ) |  | — |  |  | — |
Settlements | — |  |  |  | — |  |  | (4 | ) |  | — |
Balance - end of period | $ | — |  |  |  | $ | — |  |  | $ | 17 |  |  | $ | — |

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