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v3.19.1

Guarantor Financial Statement Information (Tables) | 3 Months Ended
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Mar. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Consolidating Balance Sheet |
MR. COOPER GROUP INC. CONSOLIDATING BALANCE SHEET DECEMBER 31, 2018
| Successor
| Mr. Cooper |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 193 |  |  | $ | 1 |  |  | $ | 48 |  |  | $ | — |  |  | $ | 242 |
Restricted cash | — |  |  | 186 |  |  | — |  |  | 133 |  |  | — |  |  | 319 |
Mortgage servicing rights | — |  |  | 3,644 |  |  | — |  |  | 32 |  |  | — |  |  | 3,676 |
Advances and other receivables, net | — |  |  | 1,194 |  |  | — |  |  | — |  |  | — |  |  | 1,194 |
Reverse mortgage interests, net | — |  |  | 6,770 |  |  | — |  |  | 1,164 |  |  | — |  |  | 7,934 |
Mortgage loans held for sale at fair value | — |  |  | 1,631 |  |  | — |  |  | — |  |  | — |  |  | 1,631 |
Mortgage loans held for investment at fair value | — |  |  | 1 |  |  | — |  |  | 118 |  |  | — |  |  | 119 |
Property and equipment, net | — |  |  | 84 |  |  | — |  |  | 12 |  |  | — |  |  | 96 |
Deferred tax asset, net | 973 |  |  | — |  |  | — |  |  | (6 | ) |  | — |  |  | 967 |
Other assets | — |  |  | 660 |  |  | 202 |  |  | 621 |  |  | (688 | ) |  | 795 |
Investment in subsidiaries | 2,820 |  |  | 601 |  |  | — |  |  | — |  |  | (3,421 | ) |  | — |
Total assets | $ | 3,793 |  |  | $ | 14,964 |  |  | $ | 203 |  |  | $ | 2,122 |  |  | $ | (4,109 | ) |  | $ | 16,973 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |
Unsecured senior notes, net | $ | 1,660 |  |  | $ | 799 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,459 |
Advance facilities, net | — |  |  | 90 |  |  | — |  |  | 505 |  |  | — |  |  | 595 |
Warehouse facilities, net | — |  |  | 2,349 |  |  | — |  |  | — |  |  | — |  |  | 2,349 |
Payables and accrued liabilities | 49 |  |  | 1,413 |  |  | 1 |  |  | 80 |  |  | — |  |  | 1,543 |
MSR related liabilities - nonrecourse at fair value | — |  |  | 1,197 |  |  | — |  |  | 19 |  |  | — |  |  | 1,216 |
Mortgage servicing liabilities | — |  |  | 71 |  |  | — |  |  | — |  |  | — |  |  | 71 |
Other nonrecourse debt, net | — |  |  | 5,676 |  |  | — |  |  | 1,119 |  |  | — |  |  | 6,795 |
Payables to affiliates | 139 |  |  | 549 |  |  | — |  |  | — |  |  | (688 | ) |  | — |
Total liabilities | 1,848 |  |  | 12,144 |  |  | 1 |  |  | 1,723 |  |  | (688 | ) |  | 15,028 |
Total stockholders’ equity | 1,945 |  |  | 2,820 |  |  | 202 |  |  | 399 |  |  | (3,421 | ) |  | 1,945 |
Total liabilities and stockholders’ equity | $ | 3,793 |  |  | $ | 14,964 |  |  | $ | 203 |  |  | $ | 2,122 |  |  | $ | (4,109 | ) |  | $ | 16,973 |
(1) | Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC. CONSOLIDATING BALANCE SHEET MARCH 31, 2019
| Successor
| Mr. Cooper |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 151 |  |  | $ | 1 |  |  | $ | 29 |  |  | $ | — |  |  | $ | 181 |
Restricted cash | — |  |  | 191 |  |  | — |  |  | 148 |  |  | — |  |  | 339 |
Mortgage servicing rights | — |  |  | 3,460 |  |  | — |  |  | 28 |  |  | — |  |  | 3,488 |
Advances and other receivables, net | — |  |  | 1,147 |  |  | — |  |  | — |  |  | — |  |  | 1,147 |
Reverse mortgage interests, net | — |  |  | 6,427 |  |  | — |  |  | 1,062 |  |  | — |  |  | 7,489 |
Mortgage loans held for sale at fair value | — |  |  | 2,170 |  |  | — |  |  | — |  |  | — |  |  | 2,170 |
Mortgage loans held for investment at fair value | — |  |  | 1 |  |  | — |  |  | 117 |  |  | — |  |  | 118 |
Property and equipment, net | — |  |  | 99 |  |  | — |  |  | 13 |  |  | — |  |  | 112 |
Deferred tax asset, net | 984 |  |  | 38 |  |  | — |  |  | 2 |  |  | — |  |  | 1,024 |
Other assets | — |  |  | 1,435 |  |  | 204 |  |  | 601 |  |  | (662 | ) |  | 1,578 |
Investment in subsidiaries | 2,602 |  |  | 609 |  |  | — |  |  | — |  |  | (3,211 | ) |  | — |
Total assets | $ | 3,586 |  |  | $ | 15,728 |  |  | $ | 205 |  |  | $ | 2,000 |  |  | $ | (3,873 | ) |  | $ | 17,646 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |
Unsecured senior notes, net | $ | 1,662 |  |  | $ | 799 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,461 |
Advance facilities, net | — |  |  | 89 |  |  | — |  |  | 489 |  |  | — |  |  | 578 |
Warehouse facilities, net | — |  |  | 3,050 |  |  | — |  |  | — |  |  | — |  |  | 3,050 |
Payables and accrued liabilities | 22 |  |  | 1,870 |  |  | 2 |  |  | 81 |  |  | — |  |  | 1,975 |
MSR related liabilities - nonrecourse at fair value | — |  |  | 1,326 |  |  | — |  |  | 17 |  |  | — |  |  | 1,343 |
Mortgage servicing liabilities | — |  |  | 90 |  |  | — |  |  | — |  |  | — |  |  | 90 |
Other nonrecourse debt, net | — |  |  | 5,381 |  |  | — |  |  | 1,007 |  |  | — |  |  | 6,388 |
Payables to affiliates | 141 |  |  | 521 |  |  | — |  |  | — |  |  | (662 | ) |  | — |
Total liabilities | 1,825 |  |  | 13,126 |  |  | 2 |  |  | 1,594 |  |  | (662 | ) |  | 15,885 |
Total stockholders’ equity | 1,761 |  |  | 2,602 |  |  | 203 |  |  | 406 |  |  | (3,211 | ) |  | 1,761 |
Total liabilities and stockholders’ equity | $ | 3,586 |  |  | $ | 15,728 |  |  | $ | 205 |  |  | $ | 2,000 |  |  | $ | (3,873 | ) |  | $ | 17,646 |
(1) | Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.
Consolidating Statement of Operations |
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED MARCH 31, 2018
| Predecessor
| Nationstar |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |
Service related, net | $ | — |  |  | $ | 390 |  |  | $ | 6 |  |  | $ | 68 |  |  | $ | — |  |  | $ | 464 |
Net gain on mortgage loans held for sale | — |  |  | 124 |  |  | — |  |  | — |  |  | — |  |  | 124 |
Total Revenues | — |  |  | 514 |  |  | 6 |  |  | 68 |  |  | — |  |  | 588 |
Expenses: |  |  |  |  |  |  |  |  |  |  |
Salaries, wages and benefits | — |  |  | 152 |  |  | 1 |  |  | 27 |  |  | — |  |  | 180 |
General and administrative | — |  |  | 156 |  |  | 1 |  |  | 27 |  |  | — |  |  | 184 |
Total expenses | — |  |  | 308 |  |  | 2 |  |  | 54 |  |  | — |  |  | 364 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |
Interest income | — |  |  | 131 |  |  | — |  |  | 14 |  |  | — |  |  | 145 |
Interest expense | — |  |  | (162 | ) |  | — |  |  | (9 | ) |  | — |  |  | (171 | )
Other expense | — |  |  | (1 | ) |  | — |  |  | 9 |  |  | — |  |  | 8 |
Gain (loss) from subsidiaries | 160 |  |  | 32 |  |  | — |  |  | — |  |  | (192 | ) |  | — |
Total other income (expenses), net | 160 |  |  | — |  |  | — |  |  | 14 |  |  | (192 | ) |  | (18 | )
Income (loss) before income tax expense (benefit) | 160 |  |  | 206 |  |  | 4 |  |  | 28 |  |  | (192 | ) |  | 206 |
Less: Income tax expense | — |  |  | 46 |  |  | — |  |  | — |  |  | — |  |  | 46 |
Net income (loss) | 160 |  |  | 160 |  |  | 4 |  |  | 28 |  |  | (192 | ) |  | 160 |
Less: net income attributable to non-controlling interests | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net income (loss) attributable to Nationstar | $ | 160 |  |  | $ | 160 |  |  | $ | 4 |  |  | $ | 28 |  |  | $ | (192 | ) |  | $ | 160 |
(1) | Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS THREE MONTHS ENDED MARCH 31, 2019
| Successor
| Mr. Cooper |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |
Service related, net | $ | — |  |  | $ | (19 | ) |  | $ | 6 |  |  | $ | 97 |  |  | $ | — |  |  | $ | 84 |
Net gain on mortgage loans held for sale | — |  |  | 166 |  |  | — |  |  | — |  |  | — |  |  | 166 |
Total revenues | — |  |  | 147 |  |  | 6 |  |  | 97 |  |  | — |  |  | 250 |
Expenses: |  |  |  |  |  |  |  |  |  |  |
Salaries, wages benefits | — |  |  | 174 |  |  | 1 |  |  | 40 |  |  | — |  |  | 215 |
General and administrative | — |  |  | 165 |  |  | 1 |  |  | 62 |  |  | — |  |  | 228 |
Total expenses | — |  |  | 339 |  |  | 2 |  |  | 102 |  |  | — |  |  | 443 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |
Interest income | — |  |  | 118 |  |  | — |  |  | 16 |  |  | — |  |  | 134 |
Interest expense | (38 | ) |  | (134 | ) |  | — |  |  | (17 | ) |  | — |  |  | (189 | )
Other income (expenses) | — |  |  | 4 |  |  | — |  |  | 11 |  |  | — |  |  | 15 |
Gain (loss) from subsidiaries | (148 | ) |  | 9 |  |  | — |  |  | — |  |  | 139 |  |  | — |
Total other income (expenses), net | (186 | ) |  | (3 | ) |  | — |  |  | 10 |  |  | 139 |  |  | (40 | )
(Loss) income before income tax expense (benefit) | (186 | ) |  | (195 | ) |  | 4 |  |  | 5 |  |  | 139 |  |  | (233 | )
Less: Income tax (benefit) expense | — |  |  | (47 | ) |  | — |  |  | — |  |  | — |  |  | (47 | )
Net (loss) income | (186 | ) |  | (148 | ) |  | 4 |  |  | 5 |  |  | 139 |  |  | (186 | )
Less: Net (loss) income attributable to non-controlling interests | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net (loss) income attributable to Mr. Cooper | $ | (186 | ) |  | $ | (148 | ) |  | $ | 4 |  |  | $ | 5 |  |  | $ | 139 |  |  | $ | (186 | )
(1) | Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
Consolidating Statement of Cash Flows |
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS THREE MONTHS ENDED MARCH 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 | $ | 160 |  |  | $ | 160 |  |  | $ | 4 |  |  | $ | 28 |  |  | $ | (192 | ) |  | $ | 160 |
Adjustments to reconcile net income (loss) to net cash attributable to operating activities: |  |  |  |  |  |  |  |  |  |  |
Deferred income tax expense | — |  |  | 30 |  |  | — |  |  | — |  |  | — |  |  | 30 |
(Gain) loss from subsidiaries | (160 | ) |  | (32 | ) |  | — |  |  | — |  |  | 192 |  |  | — |
Net gain on mortgage loans held for sale | — |  |  | (124 | ) |  | — |  |  | — |  |  | — |  |  | (124 | )
Reverse mortgage loan interest income | — |  |  | (119 | ) |  | — |  |  | — |  |  | — |  |  | (119 | )
(Gain) loss on sale of assets | — |  |  | — |  |  | — |  |  | (9 | ) |  | — |  |  | (9 | )
Provision for servicing reserves | — |  |  | 38 |  |  | — |  |  | — |  |  | — |  |  | 38 |
Fair value changes and amortization of mortgage servicing rights | — |  |  | (178 | ) |  | — |  |  | — |  |  | — |  |  | (178 | )
Fair value changes in excess spread financing | — |  |  | 49 |  |  | — |  |  | 1 |  |  | — |  |  | 50 |
Fair value changes in mortgage servicing rights financing liability | — |  |  | 24 |  |  | — |  |  | — |  |  | — |  |  | 24 |
Amortization of premiums, net of discount accretion | — |  |  | 4 |  |  | — |  |  | (1 | ) |  | — |  |  | 3 |
Depreciation and amortization for property and equipment and intangible assets | — |  |  | 12 |  |  | — |  |  | 3 |  |  | — |  |  | 15 |
Share-based compensation | — |  |  | 3 |  |  | — |  |  | 1 |  |  | — |  |  | 4 |
Repurchases of forward loans assets out of Ginnie Mae securitizations | — |  |  | (251 | ) |  | — |  |  | — |  |  | — |  |  | (251 | )
Mortgage loans originated and purchased for sale, net of fees | — |  |  | (5,096 | ) |  | — |  |  | — |  |  | — |  |  | (5,096 | )
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment | — |  |  | 5,709 |  |  | — |  |  | 4 |  |  | — |  |  | 5,713 |
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Advances and other receivables | — |  |  | 270 |  |  | — |  |  | — |  |  | — |  |  | 270 |
Reverse mortgage interests | — |  |  | 443 |  |  | — |  |  | (61 | ) |  | — |  |  | 382 |
Other assets | 4 |  |  | (146 | ) |  | (5 | ) |  | 201 |  |  | — |  |  | 54 |
Payables and accrued liabilities | — |  |  | (27 | ) |  | 1 |  |  | (3 | ) |  | — |  |  | (29 | )
Net cash attributable to operating activities | 4 |  |  | 769 |  |  | — |  |  | 164 |  |  | — |  |  | 937 |
(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 THREE MONTHS ENDED MARCH 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 | — |  |  | (14 | ) |  | — |  |  | (2 | ) |  | — |  |  | (16 | )
Purchase of forward mortgage servicing rights, net of liabilities incurred | — |  |  | (11 | ) |  | — |  |  | (6 | ) |  | — |  |  | (17 | )
Net proceeds from acquisition of reverse mortgage servicing portfolio and HECM related receivables | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Proceeds on sale of assets | — |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 13 |
Net cash attributable to investing activities | — |  |  | (26 | ) |  | — |  |  | 5 |  |  | — |  |  | (21 | )
Financing Activities |  |  |  |  |  |  |  |  |  |  |
Increase in warehouse facilities | — |  |  | (125 | ) |  | — |  |  | — |  |  | — |  |  | (125 | )
Decrease in advance facilities | — |  |  | (16 | ) |  | — |  |  | (277 | ) |  | — |  |  | (293 | )
Proceeds from issuance of HECM securitizations | — |  |  | — |  |  | — |  |  | 443 |  |  | — |  |  | 443 |
Repayment of HECM securitizations | — |  |  | — |  |  | — |  |  | (317 | ) |  | — |  |  | (317 | )
Proceeds from issuance of participating interest financing in reverse mortgage interests | — |  |  | 90 |  |  | — |  |  | — |  |  | — |  |  | 90 |
Repayment of participating interest financing in reverse mortgage interests | — |  |  | (664 | ) |  | — |  |  | — |  |  | — |  |  | (664 | )
Settlement of excess spread financing | — |  |  | (45 | ) |  | — |  |  | — |  |  | — |  |  | (45 | )
Repayment of nonrecourse debt - legacy assets | — |  |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
Repurchase of unsecured senior notes | — |  |  | (16 | ) |  | — |  |  | — |  |  | — |  |  | (16 | )
Surrender of shares relating to stock vesting | (4 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (4 | )
Debt financing costs | — |  |  | (5 | ) |  | — |  |  | — |  |  | — |  |  | (5 | )
Net cash attributable to financing activities | (4 | ) |  | (781 | ) |  | — |  |  | (154 | ) |  | — |  |  | (939 | )
Net increase (decrease) in cash, cash equivalents, and restricted cash | — |  |  | (38 | ) |  | — |  |  | 15 |  |  | — |  |  | (23 | )
Cash, cash equivalents, and restricted cash - beginning of period | — |  |  | 423 |  |  | 1 |  |  | 151 |  |  | — |  |  | 575 |
Cash, cash equivalents, and restricted cash - end of period | $ | — |  |  | $ | 385 |  |  | $ | 1 |  |  | $ | 166 |  |  | $ | — |  |  | $ | 552 |
(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 MARCH 31, 2019
| Successor
| Mr. Cooper |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Operating Activities |  |  |  |  |  |  |  |  |  |  |
Net (loss) income attributable to Mr. Cooper | $ | (186 | ) |  | $ | (148 | ) |  | $ | 4 |  |  | $ | 5 |  |  | $ | 139 |  |  | $ | (186 | )
Adjustments to reconcile net (loss) income to net cash attributable to operating activities: |  |  |  |  |  |  |  |  |  |  |
Deferred tax benefit | (21 | ) |  | (26 | ) |  | — |  |  | — |  |  | — |  |  | (47 | )
(Gain) loss from subsidiaries | 148 |  |  | (9 | ) |  | — |  |  | — |  |  | (139 | ) |  | — |
Net gain on mortgage loans held for sale | — |  |  | (166 | ) |  | — |  |  | — |  |  | — |  |  | (166 | )
Interest income on reverse mortgage loan | — |  |  | (82 | ) |  | — |  |  | — |  |  | — |  |  | (82 | )
Provision for servicing reserves | — |  |  | 11 |  |  | — |  |  | — |  |  | — |  |  | 11 |
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities | — |  |  | 375 |  |  | — |  |  | 4 |  |  | — |  |  | 379 |
Fair value changes in excess spread financing | — |  |  | (67 | ) |  | — |  |  | (2 | ) |  | — |  |  | (69 | )
Fair value changes in mortgage servicing rights financing liability | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | 2 |
Fair value changes in mortgage loans held for investment | — |  |  | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
Amortization of premiums, net of discount accretion | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |
Depreciation and amortization for property and equipment and intangible assets | — |  |  | 17 |  |  | — |  |  | 4 |  |  | — |  |  | 21 |
Share-based compensation | — |  |  | 3 |  |  | — |  |  | 1 |  |  | — |  |  | 4 |
Repurchases of forward loans assets out of Ginnie Mae securitizations | — |  |  | (364 | ) |  | — |  |  | — |  |  | — |  |  | (364 | )
Mortgage loans originated and purchased for sale, net of fees | — |  |  | (5,717 | ) |  | — |  |  | — |  |  | — |  |  | (5,717 | )
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment | — |  |  | 6,195 |  |  | — |  |  | 2 |  |  | — |  |  | 6,197 |
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |  |  |
Advances and other receivables | — |  |  | 120 |  |  | — |  |  | — |  |  | — |  |  | 120 |
Reverse mortgage interests | — |  |  | 514 |  |  | — |  |  | 100 |  |  | — |  |  | 614 |
Other assets | — |  |  | (229 | ) |  | (5 | ) |  | 18 |  |  | — |  |  | (216 | )
Payables and accrued liabilities | 57 |  |  | (268 | ) |  | 1 |  |  | (7 | ) |  | — |  |  | (217 | )
Net cash attributable to operating activities | — |  |  | 161 |  |  | — |  |  | 124 |  |  | — |  |  | 285 |
(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 MARCH 31, 2019 (Continued)
| Successor
| Mr. Cooper |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Investing Activities |  |  |  |  |  |  |  |  |  |  |
Acquisition, net of cash acquired | — |  |  | (85 | ) |  | — |  |  | — |  |  | — |  |  | (85 | )
Property and equipment additions, net of disposals | — |  |  | (8 | ) |  | — |  |  | (2 | ) |  | — |  |  | (10 | )
Purchase of forward mortgage servicing rights, net of liabilities incurred | — |  |  | (130 | ) |  | — |  |  | — |  |  | — |  |  | (130 | )
Proceeds on sale of forward and reverse mortgage servicing rights | — |  |  | 243 |  |  | — |  |  | — |  |  | — |  |  | 243 |
Net cash attributable to investing activities | — |  |  | 20 |  |  | — |  |  | (2 | ) |  | — |  |  | 18 |
Financing Activities |  |  |  |  |  |  |  |  |  |  |
Increase (decrease) in warehouse facilities | — |  |  | 307 |  |  | — |  |  | — |  |  | — |  |  | 307 |
Decrease in advance facilities | — |  |  | (14 | ) |  | — |  |  | (16 | ) |  | — |  |  | (30 | )
Repayment of notes payable | — |  |  | (294 | ) |  | — |  |  | — |  |  | — |  |  | (294 | )
Proceeds from sale of HECM securitizations | — |  |  | — |  |  | — |  |  | 20 |  |  | — |  |  | 20 |
Repayment of HECM securitizations | — |  |  | — |  |  | — |  |  | (127 | ) |  | — |  |  | (127 | )
Proceeds from issuance of participating interest financing in reverse mortgage interests | — |  |  | 86 |  |  | — |  |  | — |  |  | — |  |  | 86 |
Repayment of participating interest financing in reverse mortgage interests | — |  |  | (494 | ) |  | — |  |  | — |  |  | — |  |  | (494 | )
Proceeds from issuance of excess spread financing | — |  |  | 245 |  |  | — |  |  | — |  |  | — |  |  | 245 |
Settlement of excess spread financing | — |  |  | (50 | ) |  | — |  |  | — |  |  | — |  |  | (50 | )
Repayment of nonrecourse debt - legacy assets | — |  |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
Repayment of finance lease liability | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Surrender of shares relating to stock vesting | — |  |  | (2 | ) |  | — |  |  | — |  |  | — |  |  | (2 | )
Debt financing costs | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Net cash attributable to financing activities | — |  |  | (218 | ) |  | — |  |  | (126 | ) |  | — |  |  | (344 | )
Net decrease in cash, cash equivalents, and restricted cash | — |  |  | (37 | ) |  | — |  |  | (4 | ) |  | — |  |  | (41 | )
Cash, cash equivalents, and restricted cash - beginning of period | — |  |  | 379 |  |  | 1 |  |  | 181 |  |  | — |  |  | 561 |
Cash, cash equivalents, and restricted cash - end of period | $ | — |  |  | $ | 342 |  |  | $ | 1 |  |  | $ | 177 |  |  | $ | — |  |  | $ | 520 |
(1) | Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

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