XML 25 R11.htm IDEA: XBRL DOCUMENT
v3.21.1

Reverse Mortgage Interests | 3 Months Ended
--- | ---
Mar. 31, 2021
Reverse Mortgage Interests [Abstract] |
Reverse Mortgage Interests | 4. Reverse Mortgage Interests Reverse mortgage interests, net, consists of the following:
Reverse Mortgage Interests, Net | March 31, 2021 |  | December 31, 2020
Participating interests in HECM mortgage-backed securities (“HMBS”) | $ | 3,304 |  |  | $ | 3,471 |
Unsecuritized interests | 972 |  |  | 964 |
Other interests securitized | 908 |  |  | 945 |
Purchase discount, net | (93) |  |  | (127) |
Total reverse mortgage interests, net | $ | 5,091 |  |  | $ | 5,253 |
Participating Interests in HMBS The Company does not originate reverse mortgages, but during the three months ended March 31, 2021 and 2020, a total of $33 and $52 in UPB associated with new draws on existing loans was transferred to GNMA and securitized by the Company, respectively. Other Interests Securitized The reverse mortgage interests under other interest securitized have been transferred to private securitization trusts and are accounted for as a secured borrowing. No such securitization occurred during the three months ended March 31, 2021 and 2020. Unsecuritized Interests Unsecuritized interests in reverse mortgages consist of the following:
Unsecuritized Interests | March 31, 2021 |  | December 31, 2020
Repurchased HECM loans (exceeds 98% of their Max Claim Amount (“MCA”)) | $ | 699 |  |  | $ | 665 |
HECM related receivables(1) | 180 |  |  | 208 |
Funded borrower draws not yet securitized | 77 |  |  | 72 |
Real estate owned (“REO”) related receivables | 16 |  |  | 19 |
Total unsecuritized interests | $ | 972 |  |  | $ | 964 |
(1)HECM related receivables consist primarily of receivables from FNMA for corporate advances and service fees and claims receivables from the U.S. Department of Housing and Urban Development (“HUD”) on reverse mortgage interests. The Company repurchased a total of $216 and $383 of HECM loans out of GNMA HMBS securitizations during the three months ended March 31, 2021 and 2020, respectively, of which $66 and $103 were subsequently assigned to a third party in accordance with applicable servicing agreements, respectively. To the extent a loan is not subject to applicable servicing agreements and assigned to a third party, the loan is either subject to assignment to HUD, per contractual obligations with GNMA, liquidated via a payoff from the borrower or liquidated via a foreclosure according to the terms of the underlying mortgage. The Company assigned a total of $137 and $266 of HECM loans to HUD during the three months ended March 31, 2021 and 2020, respectively. Purchase Discount, net, for Reverse Mortgage Interests The following table sets forth the activities of the purchase discounts, net, for reverse mortgage interests:
| Three Months Ended March 31,
Purchase Discount, Net, for Reverse Mortgage Interests(1) | 2021 |  | 2020
Balance - beginning of period | $ | (127) |  |  | $ | (114) |
Utilization of purchase discounts(2) | 35 |  |  | 10 |
Amortization, net of accretion | (1) |  |  | (25) |
Balance - end of period | $ | (93) |  |  | $ | (129) |
(1)Net position as certain items are in a premium/(discount) position, based on the characteristics of underlying tranches of loans. (2)Utilization of purchase discounts on liquidated loans, for which the remaining receivable was written off. Credit Loss for Reverse Mortgage Interests The Company determined that credit-related losses are immaterial given the government insured nature of the HECM loan product. Any expected credit-related losses are contemplated in the Company’s existing reserve methodology due to the nature of this financial instrument. Accordingly, no cumulative effect adjustment was required upon adoption of CECL related accounting guidance on January 1, 2020 and no additional CECL reserve was recorded as of March 31, 2021 and 2020. The credit-risk characteristics of reverse mortgage interests do not vary with time as the financial instruments have no contractual life or financial profile as the primary counterparty is the government agency insuring the loans. Reverse Mortgage Interest Income Total interest earned on the Company’s participating interest in reverse mortgages wa s $40 a nd $62 during the three months ended March 31, 2021 and 2020, respectively.

X
- Definition Reverse Mortgage Interest Disclosure [Text Block] + References No definition available. + Details
Name: | nsm_ReverseMortgageInterestDisclosureTextBlock
Namespace Prefix: | nsm_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Reverse Mortgage Interests [Abstract] + References No definition available. + Details
Name: | nsm_ReverseMortgageInterestsAbstract
Namespace Prefix: | nsm_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration