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Indebtedness | 6 Months Ended
--- | ---
Jun. 30, 2021
Debt Disclosure [Abstract] |
Indebtedness | 9. Indebtedness Advance and Warehouse Facilities
|  |  |  |  |  |  |  |  |  | June 30, 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 |  |  | $ | 143 |  |  | $ | 168 |  |  | $ | 168 |  |  | $ | 195 |
$640 advance facility(1) |  | LIBOR+3.9% |  | August 2022 |  | Servicing advance receivables |  | 640 |  |  | 201 |  |  | 264 |  |  | 235 |  |  | 305 |
$425 advance facility |  | LIBOR+1.7% to 6.5% |  | October 2021 |  | Servicing advance receivables |  | 425 |  |  | 167 |  |  | 219 |  |  | 192 |  |  | 246 |
$100 advance facility |  | LIBOR+2.5% |  | January 2022 |  | Servicing advance receivables |  | 100 |  |  | 66 |  |  | 69 |  |  | 74 |  |  | 98 |
Advance facilities principal amount |  |  |  |  |  | 577 |  |  | 720 |  |  | 669 |  |  | 844 |
Warehouse Facilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$2,500 warehouse facility(2) |  | LIBOR+1.6% to 1.9% |  | October 2021 |  | Mortgage loans or MBS |  | 2,500 |  |  | 1,374 |  |  | 1,424 |  |  | 1,003 |  |  | 1,037 |
$2,000 warehouse facility(3) |  | LIBOR+1.5% to 1.8% |  | February 2023 |  | Mortgage loans or MBS |  | 2,000 |  |  | 1,968 |  |  | 2,124 |  |  | 339 |  |  | 392 |
$1,500 warehouse facility |  | LIBOR+1.5% |  | June 2022 |  | Mortgage loans or MBS |  | 1,500 |  |  | 607 |  |  | 584 |  |  | 1,081 |  |  | 1,028 |
$1,350 warehouse facility(4)(5) |  | LIBOR+1.8% to 3.9% |  | September 2022 |  | Mortgage loans or MBS |  | 1,350 |  |  | 1,018 |  |  | 1,065 |  |  | 951 |  |  | 977 |
$1,200 warehouse facility(5) |  | LIBOR+1.8% to 3.0% |  | November 2021 |  | Mortgage loans or MBS |  | 1,200 |  |  | 293 |  |  | 303 |  |  | 586 |  |  | 607 |
$750 warehouse facility |  | LIBOR+1.8% to 2.3% |  | August 2021 |  | Mortgage loans or MBS |  | 750 |  |  | 400 |  |  | 412 |  |  | 477 |  |  | 492 |
$750 warehouse facility |  | LIBOR+1.7% to 2.8% |  | October 2021 |  | Mortgage loans or MBS |  | 750 |  |  | 303 |  |  | 313 |  |  | 562 |  |  | 574 |
$600 warehouse facility(5) |  | LIBOR+2.5% |  | February 2022 |  | Mortgage loans or MBS |  | 600 |  |  | 77 |  |  | 78 |  |  | — |  |  | — |
$500 warehouse facility |  | LIBOR+1.5% to 3.0% |  | June 2023 |  | Mortgage loans or MBS |  | 500 |  |  | — |  |  | — |  |  | — |  |  | — |
$500 warehouse facility(5) |  | LIBOR+1.5% to 4.0% |  | June 2022 |  | Mortgage loans or MBS |  | 500 |  |  | 146 |  |  | 145 |  |  | — |  |  | — |
$300 warehouse facility |  | LIBOR+1.4% |  | January 2022 |  | Mortgage loans or MBS |  | 300 |  |  | 93 |  |  | 94 |  |  | 163 |  |  | 164 |
$200 warehouse facility |  | LIBOR+1.8% |  | August 2021 |  | Mortgage loans or MBS |  | 200 |  |  | 180 |  |  | 184 |  |  | 131 |  |  | 134 |
$50 warehouse facility |  | LIBOR+1.8% to 4.8% |  | April 2022 |  | Mortgage loans or MBS |  | 50 |  |  | 11 |  |  | 15 |  |  | 37 |  |  | 42 |
$30 warehouse facility(5)(6) |  | LIBOR+3.3% |  | January 2022 |  | Mortgage loans or MBS |  | 30 |  |  | — |  |  | — |  |  | — |  |  | — |
Warehouse facilities principal amount |  | 6,470 |  |  | 6,741 |  |  | 5,330 |  |  | 5,447 |
MSR Facilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$260 warehouse facility(1) |  | LIBOR+3.9% |  | August 2022 |  | MSR |  | 260 |  | 260 |  | 865 |  | 260 |  | 668
$200 warehouse facility |  | LIBOR+3.5% |  | August 2021 |  | MSR |  | 200 |  | — |  | 517 |  | — |  | 247
$150 warehouse facility(4) |  | LIBOR+3.8% |  | September 2022 |  | MSR |  | 150 |  | — |  | 453 |  | — |  | 228
$50 warehouse facility |  | LIBOR+3.3% |  | November 2022 |  | MSR |  | 50 |  | 10 |  | 72 |  | 10 |  | 74
MSR facilities principal amount |  | 270 |  | 1,907 |  | 270 |  | 1,217
Advance, warehouse and MSR facilities principal amount |  | 7,317 |  |  | $ | 9,368 |  | 6,269 |  |  | $ | 7,508 |
Unamortized debt issuance costs |  |  |  |  |  |  |  | (7) |  |  |  | (11) |  |  |
Advance and warehouse facilities, net |  | $ | 7,310 |  |  |  | $ | 6,258 |  |
Pledged Collateral for warehouse and MSR facilities: |  |  |  |  |  |  |  |  |  |
Mortgage loans held for sale |  |  |  |  |  |  |  | $ | 6,470 |  |  | $ | 6,741 |  |  | $ | 5,330 |  |  | $ | 5,447 |
MSR |  |  |  |  |  |  |  | 270 |  |  | 1,907 |  |  | 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)The capacity amount for this warehouse facility subsequently increased from $2,000 to $4,000 in July 2021. (4)Total capacity amount for this facility is $1,500, of which $150 is a sublimit for MSR financing. (5)The outstanding and collateral pledged amounts excluded balances related to reverse mortgage interests, which are included in liabilities of discontinued operations. Refer to Note 2, Discontinued Operations for further details on liabilities of discontinued operations. (6)The capacity amount for this warehouse facility decreased fr om $40 to $30 in 2021. Unsecured Senior Notes Unsecured senior notes consist of the following:
Unsecured Senior Notes | June 30, 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 | (25) |  |  | (26) |
Unsecured senior notes, net | $ | 2,075 |  |  | $ | 2,074 |
The indentures provide that on or before certain fixed dates, the Company may redeem up to 40% of the aggregate principal amount of the unsecured senior notes with the net proceeds of certain equity offerings at fixed redemption prices, plus accrued and unpaid interest, to the redemption dates, subject to compliance with certain conditions. In addition, the Company may redeem all or a portion of the unsecured senior notes at any time on or after certain fixed dates at the applicable redemption prices set forth in the indentures plus accrued and unpaid interest, to the redemption dates. No notes were repurchased or redeemed during th e six months ended June 30, 2021 and three months ended June 30, 2020. During the six months ended June 30, 2020, the Company repaid $100 in principal of outstanding notes, and redeemed $598 in principal of outstanding notes, resulting in a gain of $1. As of June 30, 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 |
Financial Covenants The Company’s credit facilities contain various financial covenants which primarily relate to required tangible net worth amounts, liquidity reserves, leverage requirements, and profitability requirements, which are measured at the Company’s operating subsidiary, Nationstar Mortgage LLC. The Company was in compliance with its required financial covenants as of June 30, 2021.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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