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Business Segment Reporting | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Business segment reporting | 16. Business Segment Reporting The Company’s segments are based upon the Company’s organizational structure, which focuses primarily on the services offered. Corporate functional expenses are allocated to individual segments based on the actual cost of services performed based on direct resource utilization, estimate of percentage use for shared services or headcount percentage for certain functions. Facility costs are allocated to individual segments based on cost per headcount for specific facilities utilized. Group insurance costs are allocated to individual segments based on global cost per headcount. Non-allocated corporate expenses include the administrative costs of executive management and other corporate functions that are not directly attributable to Company’s operating segments. Revenues generated on inter-segment services performed are valued based on similar services provided to external parties. In the second quarter of 2020, the Company updated its presentation of segment assets to be aligned with a change in the reporting package provided to the Chief Operating Decision Maker. The presentation change had no impact on the segments' operations. Assets allocated to the Servicing segment include MSRs; advances and other receivables, except for co-issue MSR holdback; Servicing related mortgage loans held for sale; and other assets including property, plant and equipment, lease-related assets, prepaid assets, and goodwill. Assets allocated to Originations segment include co-issue MSR holdback in advances and other receivables; Originations related mortgage loans held for sale; derivative assets; and other assets including property, plant and equipment, lease-related assets, prepaid assets, and goodwill. Assets allocated to the Xome segment include cash and cash equivalents; tax-related assets; receivables; and other assets including property, plant and equipment, lease-related assets, prepaid assets, goodwill, and other intangible assets. All assets that are not specifically identified or allocated to a reporting segment are reported as part of Corporate/Other and include cash and cash equivalents; tax-related assets; and intangibles assets excluding goodwill and assets allocated to Xome. Eliminations are also included in Corporate/Other. Prior year financial information has been adjusted retrospectively to reflect the updated presentation. The following tables present financial information by segment:
| Three Months Ended September 30, 2020
Financial information by segment | Servicing |  | Originations |  | Xome |  | Corporate/Other |  | Consolidated
Revenues |  |  |  |  |  |  |  |  |
Service related, net(1) | $ | 92 |  |  | $ | 27 |  |  | $ | 108 |  |  | $ | — |  |  | $ | 227 |
Net gain on mortgage loans held for sale | 40 |  |  | 605 |  |  | — |  |  | — |  |  | 645 |
Total revenues | 132 |  |  | 632 |  |  | 108 |  |  | — |  |  | 872 |
Total expenses | 99 |  |  | 195 |  |  | 94 |  |  | 43 |  |  | 431 |
Interest income | 40 |  |  | 16 |  |  | — |  |  | — |  |  | 56 |
Interest expense | (105) |  |  | (15) |  |  | — |  |  | (45) |  |  | (165) |
Other income (expenses), net | — |  |  | — |  |  | 1 |  |  | (52) |  |  | (51) |
Total other (expenses) income, net | (65) |  |  | 1 |  |  | 1 |  |  | (97) |  |  | (160) |
(Loss) income before income tax (benefit) expense | $ | (32) |  |  | $ | 438 |  |  | $ | 15 |  |  | $ | (140) |  |  | $ | 281 |
Depreciation and amortization for property and equipment and intangible assets | $ | 6 |  |  | $ | 5 |  |  | $ | 5 |  |  | $ | 3 |  |  | $ | 19 |
Total assets | $ | 14,707 |  |  | $ | 4,250 |  |  | $ | 135 |  |  | $ | 2,663 |  |  | $ | 21,755 |
| Three Months Ended September 30, 2019
Financial information by segment | Servicing |  | Originations |  | Xome |  | Corporate/Other |  | Consolidated
Revenues |  |  |  |  |  |  |  |  |
Service related, net(1) | $ | 126 |  |  | $ | 22 |  |  | $ | 112 |  |  | $ | (2) |  |  | $ | 258 |
Net gain on mortgage loans held for sale | 37 |  |  | 312 |  |  | — |  |  | 11 |  |  | 360 |
Total revenues | 163 |  |  | 334 |  |  | 112 |  |  | 9 |  |  | 618 |
Total expenses | 171 |  |  | 155 |  |  | 101 |  |  | 51 |  |  | 478 |
Interest income | 137 |  |  | 24 |  |  | — |  |  | 2 |  |  | 163 |
Interest expense | (120) |  |  | (24) |  |  | — |  |  | (52) |  |  | (196) |
Other (expense) income, net | — |  |  | (1) |  |  | 3 |  |  | (2) |  |  | — |
Total other income (expenses), net | 17 |  |  | (1) |  |  | 3 |  |  | (52) |  |  | (33) |
Income (loss) before income tax expense (benefit) | $ | 9 |  |  | $ | 178 |  |  | $ | 14 |  |  | $ | (94) |  |  | $ | 107 |
Depreciation and amortization for property and equipment and intangible assets | $ | 5 |  |  | $ | 4 |  |  | $ | 4 |  |  | $ | 9 |  |  | $ | 22 |
Total assets | $ | 12,065 |  |  | $ | 4,386 |  |  | $ | 172 |  |  | $ | 1,855 |  |  | $ | 18,478 |
| Nine Months Ended September 30, 2020
Financial information by segment | Servicing |  | Originations |  | Xome |  | Corporate/Other |  | Consolidated
Revenues |  |  |  |  |  |  |  |  |
Service related, net(1) | $ | (202) |  |  | $ | 68 |  |  | $ | 320 |  |  | $ | — |  |  | $ | 186 |
Net gain on mortgage loans held for sale | 119 |  |  | 1,475 |  |  | — |  |  | — |  |  | 1,594 |
Total revenues | (83) |  |  | 1,543 |  |  | 320 |  |  | — |  |  | 1,780 |
Total expenses | 370 |  |  | 528 |  |  | 285 |  |  | 111 |  |  | 1,294 |
Interest income | 180 |  |  | 69 |  |  | — |  |  | 1 |  |  | 250 |
Interest expense | (335) |  |  | (55) |  |  | — |  |  | (144) |  |  | (534) |
Other income (expense), net | — |  |  | — |  |  | 3 |  |  | (53) |  |  | (50) |
Total other (expenses) income, net | (155) |  |  | 14 |  |  | 3 |  |  | (196) |  |  | (334) |
(Loss) income before income tax (benefit) expense | $ | (608) |  |  | $ | 1,029 |  |  | $ | 38 |  |  | $ | (307) |  |  | $ | 152 |
Depreciation and amortization for property and equipment and intangible assets | $ | 14 |  |  | $ | 12 |  |  | $ | 11 |  |  | $ | 19 |  |  | $ | 56 |
Total assets | $ | 14,707 |  |  | $ | 4,250 |  |  | $ | 135 |  |  | $ | 2,663 |  |  | $ | 21,755 |
| Nine Months Ended September 30, 2019
Financial information by segment | Servicing |  | Originations |  | Xome |  | Corporate/Other |  | Consolidated
Revenues |  |  |  |  |  |  |  |  |
Service related, net(1) | $ | 108 |  |  | $ | 57 |  |  | $ | 316 |  |  | $ | (2) |  |  | $ | 479 |
Net gain on mortgage loans held for sale | 90 |  |  | 687 |  |  | — |  |  | 11 |  |  | 788 |
Total revenues | 198 |  |  | 744 |  |  | 316 |  |  | 9 |  |  | 1,267 |
Total expenses | 555 |  |  | 404 |  |  | 301 |  |  | 153 |  |  | 1,413 |
Interest income | 388 |  |  | 64 |  |  | — |  |  | 7 |  |  | 459 |
Interest expense | (343) |  |  | (67) |  |  | — |  |  | (162) |  |  | (572) |
Other income (expense), net | — |  |  | 4 |  |  | 14 |  |  | (2) |  |  | 16 |
Total other income (expenses), net | 45 |  |  | 1 |  |  | 14 |  |  | (157) |  |  | (97) |
(Loss) income before income tax (benefit) expense | $ | (312) |  |  | $ | 341 |  |  | $ | 29 |  |  | $ | (301) |  |  | $ | (243) |
Depreciation and amortization for property and equipment and intangible assets | $ | 13 |  |  | $ | 13 |  |  | $ | 11 |  |  | $ | 30 |  |  | $ | 67 |
Total assets | $ | 12,065 |  |  | $ | 4,386 |  |  | $ | 172 |  |  | $ | 1,855 |  |  | $ | 18,478 |
(1)Service related, net revenues for Corporate/Other include intersegment eliminations.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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