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Indebtedness (Tables) | 3 Months Ended
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Mar. 31, 2021
Debt Disclosure [Abstract] |
Schedule of advance and warehouse facilities | Advance and Warehouse Facilities
|  |  |  |  |  |  |  |  |  | March 31, 2021 |  | December 31, 2020
|  | Interest Rate |  | Maturity Date |  | Collateral |  | Capacity Amount |  | Outstanding |  | Collateral Pledged |  | Outstanding |  | Collateral Pledged
Advance Facilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$875 advance facility |  | CP+2.0% to 6.5% |  | January 2022 |  | Servicing advance receivables |  | $ | 875 |  |  | $ | 140 |  |  | $ | 165 |  |  | $ | 168 |  |  | $ | 195 |
$640 advance facility(1) |  | LIBOR+3.9% |  | August 2022 |  | Servicing advance receivables |  | 640 |  |  | 231 |  |  | 299 |  |  | 235 |  |  | 305 |
$425 advance facility |  | LIBOR+1.6% to 6.5% |  | October 2021 |  | Servicing advance receivables |  | 425 |  |  | 197 |  |  | 250 |  |  | 192 |  |  | 246 |
$100 advance facility |  | LIBOR+2.5% |  | January 2022 |  | Servicing advance receivables |  | 100 |  |  | 70 |  |  | 92 |  |  | 74 |  |  | 98 |
Advance facilities principal amount |  |  |  |  |  | 638 |  |  | 806 |  |  | 669 |  |  | 844 |
Warehouse Facilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$2,500 warehouse facility(2) |  | LIBOR+1.6% to 1.9% |  | October 2021 |  | Mortgage loans or MBS |  | 2,500 |  |  | 1,442 |  |  | 1,495 |  |  | 1,003 |  |  | 1,037 |
$2,000 warehouse facility |  | LIBOR+1.6% to 2.0% |  | February 2023 |  | Mortgage loans or MBS |  | 2,000 |  |  | 940 |  |  | 1,055 |  |  | 339 |  |  | 392 |
$1,500 warehouse facility |  | LIBOR+1.5% |  | June 2021 |  | Mortgage loans or MBS |  | 1,500 |  |  | 867 |  |  | 838 |  |  | 1,081 |  |  | 1,028 |
$1,350 warehouse facility(3) |  | LIBOR+1.7% to 3.9% |  | September 2022 |  | Mortgage loans or MBS |  | 1,350 |  |  | 918 |  |  | 990 |  |  | 1,067 |  |  | 1,128 |
|  |  |  |  |  |  |  |  |  | March 31, 2021 |  | December 31, 2020
|  | Interest Rate |  | Maturity Date |  | Collateral |  | Capacity Amount |  | Outstanding |  | Collateral Pledged |  | Outstanding |  | Collateral Pledged
$1,200 warehouse facility |  | LIBOR+1.8% to 3.0% |  | November 2021 |  | Mortgage loans or MBS |  | 1,200 |  |  | 497 |  |  | 543 |  |  | 787 |  |  | 839 |
$750 warehouse facility |  | LIBOR+1.8% to 2.3% |  | August 2021 |  | Mortgage loans or MBS |  | 750 |  |  | 612 |  |  | 631 |  |  | 477 |  |  | 492 |
$750 warehouse facility |  | LIBOR+1.7% to 2.8% |  | October 2021 |  | Mortgage loans or MBS |  | 750 |  |  | 535 |  |  | 549 |  |  | 562 |  |  | 574 |
$600 warehouse facility |  | LIBOR+2.5% |  | February 2022 |  | Mortgage loans or MBS |  | 600 |  |  | 332 |  |  | 374 |  |  | 187 |  |  | 222 |
$500 warehouse facility |  | LIBOR+2.5% to 4.0% |  | May 2021 |  | Mortgage loans or MBS |  | 500 |  |  | — |  |  | — |  |  | — |  |  | — |
$300 warehouse facility |  | LIBOR+1.4% |  | January 2022 |  | Mortgage loans or MBS |  | 300 |  |  | 129 |  |  | 130 |  |  | 163 |  |  | 164 |
$250 warehouse facility |  | LIBOR+1.4% to 2.3% |  | May 2021 |  | Mortgage loans or MBS |  | 250 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |
$200 warehouse facility |  | LIBOR+1.8% |  | July 2021 |  | Mortgage loans or MBS |  | 200 |  |  | 169 |  |  | 173 |  |  | 131 |  |  | 134 |
$50 warehouse facility |  | LIBOR+1.8% to 4.8% |  | June 2021 |  | Mortgage loans or MBS |  | 50 |  |  | 36 |  |  | 43 |  |  | 37 |  |  | 42 |
$30 warehouse facility(4) |  | LIBOR+3.3% |  | January 2022 |  | Mortgage loans or MBS |  | 30 |  |  | 2 |  |  | 2 |  |  | 1 |  |  | 1 |
Warehouse facilities principal amount |  | 6,480 |  |  | 6,824 |  |  | 5,835 |  |  | 6,053 |
MSR Facilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$260 warehouse facility(1) |  | LIBOR+3.9% |  | August 2022 |  | MSR |  | 260 |  | 260 |  | 838 |  | 260 |  | 668
$200 warehouse facility |  | LIBOR+3.5% |  | August 2021 |  | MSR |  | 200 |  | — |  | 471 |  | — |  | 247
$150 warehouse facility(3) |  | LIBOR+3.8% |  | September 2022 |  | MSR |  | 150 |  | — |  | 438 |  | — |  | 228
$50 warehouse facility |  | LIBOR+3.3% |  | November 2022 |  | MSR |  | 50 |  | 10 |  | 80 |  | 10 |  | 74
MSR facilities principal amount |  | 270 |  | 1,827 |  | 270 |  | 1,217
Advance, warehouse and MSR facilities principal amount |  | 7,388 |  |  | $ | 9,457 |  | 6,774 |  |  | $ | 8,114 |
Unamortized debt issuance costs |  |  |  |  |  |  |  | (9) |  |  |  | (11) |  |  |
Advance and warehouse facilities, net |  | $ | 7,379 |  |  |  | $ | 6,763 |  |
Pledged Collateral for warehouse and MSR facilities: |  |  |  |  |  |  |  |  |  |
Mortgage loans held for sale |  |  |  |  |  |  |  | $ | 5,970 |  |  | $ | 6,210 |  |  | $ | 5,330 |  |  | $ | 5,447 |
Reverse mortgage interests |  |  |  |  |  |  |  | 510 |  |  | 614 |  |  | 505 |  |  | 606 |
MSR |  |  |  |  |  |  |  | 270 |  |  | 1,827 |  |  | 270 |  |  | 1,217 |
(1)Total capacity for this facility is $900, of which $640 is internally allocated for advance financing and $260 is internally allocated for MSR financing; capacity is fully fungible and is not restricted by these allocations. (2)The capacity amount for this warehouse facility increased from $1,500 to $2,500 in 2021. (3)Total capacity amount for this facility is $1,500, of which $150 is a sublimit for MSR financing. (4)The capacity amount for this warehouse facility decreased from $40 to $30 in 2021.
Schedule of unsecured senior notes | Unsecured senior notes consist of the following:
Unsecured Senior Notes | March 31, 2021 |  | December 31, 2020
$850 face value, 5.500% interest rate payable semi-annually, due August 2028 | $ | 850 |  |  | $ | 850 |
$650 face value, 5.125% interest rate payable semi-annually, due December 2030 | 650 |  |  | 650 |
$600 face value, 6.000% interest rate payable semi-annually, due January 2027 | 600 |  |  | 600 |
Unsecured senior notes principal amount | 2,100 |  |  | 2,100 |
Unamortized debt issuance costs | (26) |  |  | (26) |
Unsecured senior notes, net | $ | 2,074 |  |  | $ | 2,074 |
Schedule of maturities of long-term debt | As of March 31, 2021, the expected maturities of the Company’s unsecured senior notes based on contractual maturities are as follows:
Year Ending December 31, |  | Amount
2021 through 2025 |  | $ | — |
Thereafter |  | 2,100 |
Total unsecured senior notes principal amount |  | $ | 2,100 |
Schedule of other nonrecourse debt | Other nonrecourse debt consists of the following:
|  |  |  |  |  |  |  |  |  |  | March 31, 2021 |  | December 31, 2020
Other Nonrecourse Debt | Issue Date |  | Maturity Date |  | Interest Rate |  | Class of Note |  | Collateral Amount |  | Outstanding |  | Outstanding
Participating interest financing(1) | — |  | — |  | 0.3%-5.6% |  | — |  | $ | — |  |  | $ | 3,306 |  |  | $ | 3,473 |
Securitization of nonperforming HECM loans |  |  |  |  |  |  |  |  |  |  |  |  |
Trust 2020-1 | September 2020 |  | September 2030 |  | 1.3%-7.5% |  | A, M1, M2, M3, M4, M5 |  | 489 |  |  | 471 |  |  | 490 |
Trust 2019-2 | November 2019 |  | November 2029 |  | 2.3%-6.0% |  | A, M1, M2, M3, M4, M5 |  | 254 |  |  | 232 |  |  | 241 |
Trust 2019-1 | June 2019 |  | June 2029 |  | 2.7%-6.0% |  | A, M1, M2, M3, M4, M5 |  | 231 |  |  | 203 |  |  | 212 |
Other nonrecourse debt principal amount |  |  |  |  |  |  |  |  |  |  | 4,212 |  |  | 4,416 |
Unamortized premium, net of debt issuance costs and discount |  |  |  |  |  |  |  |  |  |  | 9 |  |  | 8 |
Other nonrecourse debt, net |  |  |  |  |  |  |  |  |  |  | $ | 4,221 |  |  | $ | 4,424 |
(1)Amounts represent the Company’s participating interest in GNMA HMBS securitized portfolios.

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