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Indebtedness (Tables)

6 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Schedule of advance and warehouse facilities

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 from $40 to $30 in 2021.

Schedule of 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

Schedule of maturities of long-term debt

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

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