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Guarantor Financial Statement Information (Tables) | 9 Months Ended
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Sep. 30, 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 other 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 SEPTEMBER 30, 2019
| Successor
| Mr. Cooper |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 331 |  |  | $ | 1 |  |  | $ | 39 |  |  | $ | — |  |  | $ | 371 |
Restricted cash | — |  |  | 155 |  |  | — |  |  | 116 |  |  | — |  |  | 271 |
Mortgage servicing rights | — |  |  | 3,322 |  |  | — |  |  | 24 |  |  | — |  |  | 3,346 |
Advances and other receivables, net | — |  |  | 966 |  |  | — |  |  | 1 |  |  | — |  |  | 967 |
Reverse mortgage interests, net | — |  |  | 5,733 |  |  | — |  |  | 929 |  |  | — |  |  | 6,662 |
Mortgage loans held for sale at fair value | — |  |  | 4,267 |  |  | — |  |  | — |  |  | — |  |  | 4,267 |
Property and equipment, net | — |  |  | 94 |  |  | — |  |  | 19 |  |  | — |  |  | 113 |
Deferred tax asset, net | 984 |  |  | 46 |  |  | — |  |  | 2 |  |  | — |  |  | 1,032 |
Other assets | — |  |  | 1,317 |  |  | 213 |  |  | 814 |  |  | (895 | ) |  | 1,449 |
Investment in subsidiaries | 2,612 |  |  | 682 |  |  | — |  |  | — |  |  | (3,294 | ) |  | — |
Total assets | $ | 3,596 |  |  | $ | 16,913 |  |  | $ | 214 |  |  | $ | 1,944 |  |  | $ | (4,189 | ) |  | $ | 18,478 |
Liabilities and Stockholders’ Equity |  |  |  |  |  |  |  |  |  |  |
Unsecured senior notes, net | $ | 1,665 |  |  | $ | 799 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,464 |
Advance facilities, net | — |  |  | 64 |  |  | — |  |  | 449 |  |  | — |  |  | 513 |
Warehouse facilities, net | — |  |  | 4,802 |  |  | — |  |  | — |  |  | — |  |  | 4,802 |
Payables and other liabilities | 23 |  |  | 1,905 |  |  | 2 |  |  | 72 |  |  | — |  |  | 2,002 |
MSR related liabilities - nonrecourse at fair value | — |  |  | 1,313 |  |  | — |  |  | 15 |  |  | — |  |  | 1,328 |
Mortgage servicing liabilities | — |  |  | 69 |  |  | — |  |  | — |  |  | — |  |  | 69 |
Other nonrecourse debt, net | — |  |  | 4,596 |  |  | — |  |  | 937 |  |  | — |  |  | 5,533 |
Payables to affiliates | 141 |  |  | 753 |  |  | — |  |  | 1 |  |  | (895 | ) |  | — |
Total liabilities | 1,829 |  |  | 14,301 |  |  | 2 |  |  | 1,474 |  |  | (895 | ) |  | 16,711 |
Total stockholders’ equity | 1,767 |  |  | 2,612 |  |  | 212 |  |  | 470 |  |  | (3,294 | ) |  | 1,767 |
Total liabilities and stockholders’ equity | $ | 3,596 |  |  | $ | 16,913 |  |  | $ | 214 |  |  | $ | 1,944 |  |  | $ | (4,189 | ) |  | $ | 18,478 |
(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 TWO MONTHS ENDED SEPTEMBER 30, 2018
| Successor
| Nationstar |  | 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 and 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 | 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 (benefit) expense | (990 | ) |  | 11 |  |  | — |  |  | — |  |  | — |  |  | (979 | )
Net income (loss) | 1,020 |  |  | 56 |  |  | 2 |  |  | (1 | ) |  | (57 | ) |  | 1,020 |
Less: Net income (loss) 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 ONE MONTH ENDED 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 and 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 (expense) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
(Loss) gain from subsidiaries | (37 | ) |  | 7 |  |  | — |  |  | — |  |  | 30 |  |  | — |
Total other income (expenses), net | (37 | ) |  | (1 | ) |  | — |  |  | 3 |  |  | 30 |  |  | (5 | )
(Loss) income before income tax (benefit) expense | (64 | ) |  | (57 | ) |  | 3 |  |  | 5 |  |  | 30 |  |  | (83 | )
Less: Income tax (benefit) expense | — |  |  | (20 | ) |  | — |  |  | 1 |  |  | — |  |  | (19 | )
Net loss) income | (64 | ) |  | (37 | ) |  | 3 |  |  | 4 |  |  | 30 |  |  | (64 | )
Less: Net income (loss) attributable to non-controlling interests | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net (loss) income attributable to Nationstar | $ | (64 | ) |  | $ | (37 | ) |  | $ | 3 |  |  | $ | 4 |  |  | $ | 30 |  |  | $ | (64 | )
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF OPERATIONS SEVEN MONTHS ENDED 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 and 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 | 154 |  |  | 229 |  |  | 12 |  |  | 44 |  |  | (237 | ) |  | 202 |
Less: Income tax expense | — |  |  | 48 |  |  | — |  |  | — |  |  | — |  |  | 48 |
Net income (loss) | 154 |  |  | 181 |  |  | 12 |  |  | 44 |  |  | (237 | ) |  | 154 |
Less: Net income (loss) attributable to non-controlling 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 OPERATIONS THREE MONTHS ENDED SEPTEMBER 30, 2019
| Successor
| Mr. Cooper |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |
Service related, net | $ | — |  |  | $ | 137 |  |  | $ | 5 |  |  | $ | 116 |  |  | $ | — |  |  | $ | 258 |
Net gain on mortgage loans held for sale | — |  |  | 349 |  |  | — |  |  | 11 |  |  | — |  |  | 360 |
Total revenues | — |  |  | 486 |  |  | 5 |  |  | 127 |  |  | — |  |  | 618 |
Expenses: |  |  |  |  |  |  |  |  |  |  |
Salaries, wages benefits | — |  |  | 209 |  |  | 1 |  |  | 40 |  |  | — |  |  | 250 |
General and administrative | — |  |  | 185 |  |  | — |  |  | 43 |  |  | — |  |  | 228 |
Total expenses | — |  |  | 394 |  |  | 1 |  |  | 83 |  |  | — |  |  | 478 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |
Interest income | — |  |  | 127 |  |  | — |  |  | 36 |  |  | — |  |  | 163 |
Interest expense | (37 | ) |  | (143 | ) |  | — |  |  | (16 | ) |  | — |  |  | (196 | )
Other income (expenses) | — |  |  | (3 | ) |  | — |  |  | 3 |  |  | — |  |  | — |
Gain (loss) from subsidiaries | 121 |  |  | 71 |  |  | — |  |  | — |  |  | (192 | ) |  | — |
Total other income (expenses), net | 84 |  |  | 52 |  |  | — |  |  | 23 |  |  | (192 | ) |  | (33 | )
Income (loss) before income tax benefit | 84 |  |  | 144 |  |  | 4 |  |  | 67 |  |  | (192 | ) |  | 107 |
Less: Income tax expense | — |  |  | 24 |  |  | — |  |  | — |  |  | — |  |  | 24 |
Net income (loss) | 84 |  |  | 120 |  |  | 4 |  |  | 67 |  |  | (192 | ) |  | 83 |
Less: Net loss attributable to non-controlling interests | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Net income (loss) attributable to Mr. Cooper | $ | 84 |  |  | $ | 121 |  |  | $ | 4 |  |  | $ | 67 |  |  | $ | (192 | ) |  | $ | 84 |
(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, 2019
| Successor
| Mr. Cooper |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Revenues: |  |  |  |  |  |  |  |  |  |  |
Service related, net | $ | — |  |  | $ | 139 |  |  | $ | 16 |  |  | $ | 324 |  |  | $ | — |  |  | $ | 479 |
Net gain on mortgage loans held for sale | — |  |  | 777 |  |  | — |  |  | 11 |  |  | — |  |  | 788 |
Total revenues | — |  |  | 916 |  |  | 16 |  |  | 335 |  |  | — |  |  | 1,267 |
Expenses: |  |  |  |  |  |  |  |  |  |  |
Salaries, wages benefits | — |  |  | 581 |  |  | 3 |  |  | 119 |  |  | — |  |  | 703 |
General and administrative | — |  |  | 529 |  |  | 2 |  |  | 179 |  |  | — |  |  | 710 |
Total expenses | — |  |  | 1,110 |  |  | 5 |  |  | 298 |  |  | — |  |  | 1,413 |
Other income (expenses): |  |  |  |  |  |  |  |  |  |  |
Interest income | — |  |  | 392 |  |  | — |  |  | 67 |  |  | — |  |  | 459 |
Interest expense | (114 | ) |  | (411 | ) |  | — |  |  | (47 | ) |  | — |  |  | (572 | )
Other income (expenses) | — |  |  | 2 |  |  | — |  |  | 14 |  |  | — |  |  | 16 |
(Loss) gain from subsidiaries | (75 | ) |  | 82 |  |  | — |  |  | — |  |  | (7 | ) |  | — |
Total other income (expenses), net | (189 | ) |  | 65 |  |  | — |  |  | 34 |  |  | (7 | ) |  | (97 | )
(Loss) income before income tax benefit | (189 | ) |  | (129 | ) |  | 11 |  |  | 71 |  |  | (7 | ) |  | (243 | )
Less: Income tax benefit | — |  |  | (52 | ) |  | — |  |  | — |  |  | — |  |  | (52 | )
Net (loss) income | (189 | ) |  | (77 | ) |  | 11 |  |  | 71 |  |  | (7 | ) |  | (191 | )
Less: Net loss attributable to non-controlling interests | — |  |  | (2 | ) |  | — |  |  | — |  |  | — |  |  | (2 | )
Net (loss) income attributable to Mr. Cooper | $ | (189 | ) |  | $ | (75 | ) |  | $ | 11 |  |  | $ | 71 |  |  | $ | (7 | ) |  | $ | (189 | )
(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 TWO MONTHS ENDED SEPTEMBER 30, 2018
| Successor
| Nationstar |  | Issuer(1) |  | Guarantor (Subsidiaries of Issuer) |  | Non-Guarantor (Subsidiaries of Issuer) |  | Eliminations |  | Consolidated
Operating Activities |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to Mr. Cooper | $ | 1,020 |  |  | $ | 56 |  |  | $ | 2 |  |  | $ | (1 | ) |  | $ | (57 | ) |  | $ | 1,020 |
Adjustments to reconcile net income (loss) to net cash attributable to operating activities: |  |  |  |  |  |  |  |  |  |  |
Deferred income tax (benefit) expense | (990 | ) |  | 52 |  |  | — |  |  | 7 |  |  | — |  |  | (931 | )
Net income attributable to non-controlling interests | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
(Gain) loss from subsidiaries | (56 | ) |  | (1 | ) |  | — |  |  | — |  |  | 57 |  |  | — |
Net gain on mortgage loans held for sale | — |  |  | (83 | ) |  | — |  |  | — |  |  | — |  |  | (83 | )
Interest income on reverse mortgage loans | — |  |  | (72 | ) |  | — |  |  | — |  |  | — |  |  | (72 | )
Provision for servicing reserves | — |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  | 14 |
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities | — |  |  | (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 | )
Sale 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 other 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 TWO MONTHS ENDED SEPTEMBER 30, 2018 (Continued)
| Successor
| Nationstar |  | 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 SEVEN MONTHS ENDED 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 | )
Interest income on reverse mortgage loans | — |  |  | (274 | ) |  | — |  |  | — |  |  | — |  |  | (274 | )
Gain on sale of assets | — |  |  | — |  |  | — |  |  | (9 | ) |  | — |  |  | (9 | )
MSL related increased obligations | — |  |  | 59 |  |  | — |  |  | — |  |  | — |  |  | 59 |
Provision for servicing reserves | — |  |  | 70 |  |  | — |  |  | — |  |  | — |  |  | 70 |
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities | — |  |  | (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 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 | )
Sale 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 other liabilities | 27 |  |  | 128 |  |  | — |  |  | (4 | ) |  | — |  |  | 151 |
Net cash attributable to operating activities | 9 |  |  | 2,247 |  |  | — |  |  | 38 |  |  | — |  |  | 2,294 |
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS SEVEN MONTHS ENDED 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 |
MR. COOPER GROUP INC. CONSOLIDATING STATEMENT OF CASH FLOWS NINE MONTHS ENDED SEPTEMBER 30, 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 | $ | (189 | ) |  | $ | (75 | ) |  | $ | 11 |  |  | $ | 71 |  |  | $ | (7 | ) |  | $ | (189 | )
Adjustments to reconcile net (loss) income to net cash attributable to operating activities: |  |  |  |  |  |  |  |  |  |  |
Deferred tax benefit | — |  |  | (53 | ) |  | — |  |  | — |  |  | — |  |  | (53 | )
Net loss attributable to non-controlling interests | — |  |  | (2 | ) |  | — |  |  | — |  |  | — |  |  | (2 | )
Loss (gain) from subsidiaries | 75 |  |  | (82 | ) |  | — |  |  | — |  |  | 7 |  |  | — |
Net gain on mortgage loans held for sale | — |  |  | (777 | ) |  | — |  |  | (11 | ) |  | — |  |  | (788 | )
Interest income on reverse mortgage loans | — |  |  | (208 | ) |  | — |  |  | (33 | ) |  | — |  |  | (241 | )
Provision for servicing reserves | — |  |  | 53 |  |  | — |  |  | — |  |  | — |  |  | 53 |
Fair value changes and amortization/accretion of mortgage servicing rights/liabilities | — |  |  | 990 |  |  | — |  |  | 8 |  |  | — |  |  | 998 |
Fair value changes in excess spread financing | — |  |  | (186 | ) |  | — |  |  | (4 | ) |  | — |  |  | (190 | )
Fair value changes in mortgage servicing rights financing liability | — |  |  | 15 |  |  | — |  |  | — |  |  | — |  |  | 15 |
Fair value changes in mortgage loans held for investment | — |  |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
Amortization of premiums, net of discount accretion | 5 |  |  | (21 | ) |  | — |  |  | (22 | ) |  | — |  |  | (38 | )
Depreciation and amortization for property and equipment and intangible assets | — |  |  | 55 |  |  | — |  |  | 12 |  |  | — |  |  | 67 |
Share-based compensation | — |  |  | 11 |  |  | — |  |  | 3 |  |  | — |  |  | 14 |
Other loss | — |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 5 |
Repurchases of forward loans assets out of Ginnie Mae securitizations | — |  |  | (1,823 | ) |  | — |  |  | — |  |  | — |  |  | (1,823 | )
Mortgage loans originated and purchased for sale, net of fees | — |  |  | (27,685 | ) |  | — |  |  | 12 |  |  | — |  |  | (27,673 | )
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment | — |  |  | 27,777 |  |  | — |  |  | 139 |  |  | — |  |  | 27,916 |
Changes in assets and liabilities: |  |  |  |  |  |  |  |  |  |  |
Advances and other receivables | — |  |  | 266 |  |  | — |  |  | (1 | ) |  | — |  |  | 265 |
Reverse mortgage interests | — |  |  | 1,515 |  |  | — |  |  | 185 |  |  | — |  |  | 1,700 |
Other assets | — |  |  | 141 |  |  | (12 | ) |  | (121 | ) |  | — |  |  | 8 |
Payables and other liabilities | 109 |  |  | (164 | ) |  | 1 |  |  | (15 | ) |  | — |  |  | (69 | )
Net cash attributable to operating activities | — |  |  | (248 | ) |  | — |  |  | 220 |  |  | — |  |  | (28 | )
(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, 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 | — |  |  | (27 | ) |  | — |  |  | (11 | ) |  | — |  |  | (38 | )
Purchase of forward mortgage servicing rights, net of liabilities incurred | — |  |  | (454 | ) |  | — |  |  | — |  |  | — |  |  | (454 | )
Proceeds on sale of forward and reverse mortgage servicing rights | — |  |  | 298 |  |  | — |  |  | — |  |  | — |  |  | 298 |
Net cash attributable to investing activities | — |  |  | (268 | ) |  | — |  |  | (11 | ) |  | — |  |  | (279 | )
Financing Activities |  |  |  |  |  |  |  |  |  |  |
Increase in warehouse facilities | — |  |  | 1,930 |  |  | — |  |  | — |  |  | — |  |  | 1,930 |
Decrease in advance facilities | — |  |  | (39 | ) |  | — |  |  | (56 | ) |  | — |  |  | (95 | )
Repayment of notes payable | — |  |  | (294 | ) |  | — |  |  | — |  |  | — |  |  | (294 | )
Proceeds from issuance of HECM securitizations | — |  |  | — |  |  | — |  |  | 398 |  |  | — |  |  | 398 |
Proceeds from sale of HECM securitizations | — |  |  | — |  |  | — |  |  | 20 |  |  | — |  |  | 20 |
Repayment of HECM securitizations | — |  |  | — |  |  | — |  |  | (568 | ) |  | — |  |  | (568 | )
Proceeds from issuance of participating interest financing in reverse mortgage interests | — |  |  | 220 |  |  | — |  |  | — |  |  | — |  |  | 220 |
Repayment of participating interest financing in reverse mortgage interests | — |  |  | (1,472 | ) |  | — |  |  | — |  |  | — |  |  | (1,472 | )
Proceeds from issuance of excess spread financing | — |  |  | 469 |  |  | — |  |  | — |  |  | — |  |  | 469 |
Repayment of excess spread financing | — |  |  | (19 | ) |  | — |  |  | — |  |  | — |  |  | (19 | )
Settlement of excess spread financing | — |  |  | (163 | ) |  | — |  |  | — |  |  | — |  |  | (163 | )
Repayment of nonrecourse debt - legacy assets | — |  |  | — |  |  | — |  |  | (29 | ) |  | — |  |  | (29 | )
Repayment of finance lease liability | — |  |  | (3 | ) |  | — |  |  | — |  |  | — |  |  | (3 | )
Surrender of shares relating to stock vesting | — |  |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Debt financing costs | — |  |  | (5 | ) |  | — |  |  | — |  |  | — |  |  | (5 | )
Net cash attributable to financing activities | — |  |  | 623 |  |  | — |  |  | (235 | ) |  | — |  |  | 388 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | — |  |  | 107 |  |  | — |  |  | (26 | ) |  | — |  |  | 81 |
Cash, cash equivalents, and restricted cash - beginning of period | — |  |  | 379 |  |  | 1 |  |  | 181 |  |  | — |  |  | 561 |
Cash, cash equivalents, and restricted cash - end of period | $ | — |  |  | $ | 486 |  |  | $ | 1 |  |  | $ | 155 |  |  | $ | — |  |  | $ | 642 |
(1) | Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

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