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Mortgage Loans Held for Sale and Investment (Tables) | 9 Months Ended
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Sep. 30, 2019
Mortgage Loans Held for Sale and Investment [Abstract] |
Schedule of Mortgage Loans Held-for-Sale | Mortgage loans held for sale are recorded at fair value as set forth below.
| Successor
| September 30, 2019 |  | December 31, 2018
Mortgage loans held for sale – UPB | $ | 4,110 |  |  | $ | 1,568 |
Mark-to-market adjustment(1) | 157 |  |  | 63 |
Total mortgage loans held for sale | $ | 4,267 |  |  | $ | 1,631 |
(1) | The mark-to-market adjustment is recorded in net gain on mortgage loans held for sale in the consolidated statements of operations.
The total UPB of mortgage loans held for sale on non-accrual status was as follows:
| Successor
| September 30, 2019 |  | December 31, 2018
Mortgage Loans Held for Sale - UPB | UPB |  | Fair Value |  | UPB |  | Fair Value
Non-accrual(1) | $ | 31 |  |  | $ | 26 |  |  | $ | 45 |  |  | $ | 42 |
(1) | Non-accrual includes $26 and $40 of UPB related to Ginnie Mae repurchased loans as of September 30, 2019 and December 31, 2018, respectively.
Schedule of Reconciliation of Mortgage Loans Held-for-Sale to Cash Flow | The following table sets forth the activities of mortgage loans held for sale.
| Successor |  |  | Predecessor
Mortgage loans held for sale | Nine Months Ended September 30, 2019 |  | Two Months Ended September 30, 2018 |  |  | Seven Months Ended July 31, 2018
Balance - beginning of period | $ | 1,631 |  |  | $ | 1,514 |  |  |  | $ | 1,891 |
Mortgage loans originated and purchased, net of fees(1) | 28,199 |  |  | 3,459 |  |  |  | 12,319 |
Loans sold | (27,430 | ) |  | (3,508 | ) |  |  | (13,255 | )
Repurchase of loans out of Ginnie Mae securitizations | 1,823 |  |  | 223 |  |  |  | 544 |
Net transfers of mortgage loans held for sale to/from REO in other assets and transfer from mortgage loans held for investment(2)(3) | 15 |  |  | 4 |  |  |  | 14 |
Changes in fair value | 19 |  |  | (8 | ) |  |  | (1 | )
Other purchase-related activities(4) | 10 |  |  | (1 | ) |  |  | 9 |
Transfer of mortgage loans held for sale to advances and other receivables, net related to claims(5) | — |  |  | (2 | ) |  |  | (7 | )
Balance - end of period | $ | 4,267 |  |  | $ | 1,681 |  |  |  | $ | 1,514 |
(1) | Mortgage loans originated and purchased during the nine months ended September 30, 2019 includes $536 of loans held for sale that were acquired from Pacific Union. See Note 2, Acquisitions for further discussion.
(2) | Net amounts are comprised of REO in the sales process, which are transferred to other assets, and certain government insured mortgage REO, which are transferred from other assets upon completion of the sale so that the claims process can begin.
(3) | Amount for the nine months ended September 30, 2019 includes $12 transfer from mortgage loans held for investment upon collapse of Trust 2009-A, the Company’s legacy portfolio, and sale of the loans held in the trust. See mortgage loans held for investment discussed in section below for additional information.
(4) | Amounts are comprised primarily of non-Ginnie Mae loan purchases and buyouts.
(5) | Amounts are comprised of claims made on certain government insured mortgage loans upon completion of the REO sale.
Schedule of Loans Held for Investment | The following table sets forth the activities of mortgage loans held for investment.
| Successor
Mortgage loans held for investment at fair value | Nine Months Ended September 30, 2019 |  | Two Months Ended September 30, 2018
Balance - beginning of period | $ | 119 |  |  | $ | 125 |
Sale of mortgage loans | (94 | ) |  | — |
Transfers to mortgage loans held for sale | (12 | ) |  | — |
Payments received from borrowers | (11 | ) |  | (2 | )
Transfers to real estate owned | (5 | ) |  | — |
Changes in fair value(1) | 3 |  |  | — |
Losses incurred | — |  |  | (1 | )
Balance - end of period | $ | — |  |  | $ | 122 |
(1) | The changes in fair value during the two months ended September 30, 2018, is less than $1.
The following sets forth the composition of mortgage loans held for investment as of December 31, 2018.
| Successor
| December 31, 2018
Mortgage loans held for investment – UPB | $ | 156 |
Fair value adjustments | (37 | )
Total mortgage loans held for investment at fair value | $ | 119 |
The total UPB of mortgage loans held for investment on non-accrual status was as follows.
| Successor
| December 31, 2018
Mortgage Loans Held for Investment - UPB | UPB |  | Fair Value
Non-accrual | $ | 27 |  |  | $ | 13 |

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