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Indebtedness | 6 Months Ended
--- | ---
Jun. 30, 2022
Debt Disclosure [Abstract] |
Indebtedness | 9. Indebtedness Advance and Warehouse Facilities
|  |  |  |  |  |  |  |  |  | June 30, 2022 |  | December 31, 2021
|  |  |  | Maturity Date |  | Collateral |  | Capacity Amount |  | Outstanding |  | Collateral Pledged |  | Outstanding |  | Collateral Pledged
Advance Facilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$400 advance facility(1) |  |  |  | August 2023 |  | Servicing advance receivables |  | $ | 400 |  |  | $ | 173 |  |  | $ | 243 |  |  | $ | 234 |  |  | $ | 318 |
$350 advance facility |  |  |  | October 2022 |  | Servicing advance receivables |  | 350 |  |  | 156 |  |  | 186 |  |  | 160 |  |  | 197 |
$350 advance facility |  |  |  | January 2023 |  | Servicing advance receivables |  | 350 |  |  | 145 |  |  | 172 |  |  | 162 |  |  | 190 |
$75 advance facility |  |  |  | December 2022 |  | Servicing advance receivables |  | 75 |  |  | 49 |  |  | 70 |  |  | 58 |  |  | 89 |
Advance facilities principal amount |  |  |  |  |  | 523 |  |  | 671 |  |  | 614 |  |  | 794 |
Warehouse Facilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$4,000 warehouse facility |  |  |  | February 2023 |  | Mortgage loans or MBS |  | 4,000 |  |  | 661 |  |  | 771 |  |  | 1,224 |  |  | 1,341 |
$2,500 warehouse facility |  |  |  | October 2022 |  | Mortgage loans or MBS |  | 2,500 |  |  | 532 |  |  | 550 |  |  | 991 |  |  | 1,024 |
$1,500 warehouse facility |  |  |  | June 2023 |  | Mortgage loans or MBS |  | 1,500 |  |  | 180 |  |  | 180 |  |  | 356 |  |  | 345 |
$750 warehouse facility |  |  |  | October 2022 |  | Mortgage loans or MBS |  | 750 |  |  | 241 |  |  | 253 |  |  | 256 |  |  | 270 |
$600 warehouse facility(2) |  |  |  | September 2023 |  | Mortgage loans or MBS |  | 600 |  |  | 91 |  |  | 101 |  |  | 409 |  |  | 425 |
$500 warehouse facility |  |  |  | June 2023 |  | Mortgage loans or MBS |  | 500 |  |  | 9 |  |  | 10 |  |  | 188 |  |  | 194 |
$500 warehouse facility |  |  |  | September 2022 |  | Mortgage loans or MBS |  | 500 |  |  | 117 |  |  | 120 |  |  | 419 |  |  | 430 |
$500 warehouse facility |  |  |  | June 2023 |  | Mortgage loans or MBS |  | 500 |  |  | 57 |  |  | 68 |  |  | 39 |  |  | 39 |
$500 warehouse facility |  |  |  | August 2023 |  | Mortgage loans or MBS |  | 500 |  |  | 31 |  |  | 32 |  |  | 38 |  |  | 39 |
$450 warehouse facility |  |  |  | April 2023 |  | Mortgage loans or MBS |  | 450 |  |  | — |  |  | — |  |  | 87 |  |  | 89 |
$325 warehouse facility |  |  |  | December 2022 |  | Mortgage loans or MBS |  | 325 |  |  | 1 |  |  | 1 |  |  | 67 |  |  | 67 |
$250 warehouse facility(3) |  |  |  | April 2023 |  | Mortgage loans or MBS |  | 250 |  |  | — |  |  | — |  |  | 5 |  |  | 6 |
$200 warehouse facility |  |  |  | April 2023 |  | Mortgage loans or MBS |  | 200 |  |  | 19 |  |  | 25 |  |  | 46 |  |  | 58 |
$30 warehouse facility(4) |  |  |  | January 2022 |  | Mortgage loans or MBS |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Warehouse facilities principal amount |  | 1,939 |  |  | 2,111 |  |  | 4,125 |  |  | 4,327 |
MSR Facilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
$800 warehouse facility(1)(5) |  |  |  | August 2023 |  | MSR |  | 800 |  | 260 |  |  | 2,008 |  |  | 260 |  | 1,107 |
$600 warehouse facility(6) |  |  |  | April 2023 |  | MSR |  | 600 |  | 400 |  | 883 |  |  | — |  |  | 838 |
$400 warehouse facility(2) |  |  |  | September 2023 |  | MSR |  | 400 |  | 65 |  | 1,376 |  | — |  | 745
$400 warehouse facility |  |  |  | June 2024 |  | MSR |  | 400 |  | 200 |  | 710 |  | — |  | —
$50 warehouse facility |  |  |  | November 2023 |  | MSR |  | 50 |  | 25 |  | 77 |  | 10 |  | 124
MSR facilities principal amount |  | 950 |  | 5,054 |  | 270 |  | 2,814
Advance, warehouse and MSR facilities principal amount |  | 3,412 |  |  | $ | 7,836 |  | 5,009 |  |  | $ | 7,935 |
Unamortized debt issuance costs |  | (5) |  |  |  | (12) |  |  |
Advance and warehouse facilities, net |  | $ | 3,407 |  |  |  | $ | 4,997 |  |
(1)Total capacity for this facility is $1,200, of which $400 is internally allocated for advance financing and $800 is internally allocated for MSR financing; capacity is fully fungible and is not restricted by these allocations, in comparison to $1,200, $940, and $260 respectively in 2021. (2)The capacity amount for this facility is $1,000, of which $400 is a sublimit for MSR financing. (3)The capacity amount for this warehouse facility decreased from $600 to $250 in 2022. (4)This facility was terminated in January 2022. (5)The capacity amount for this warehouse facility increased from $260 to $800 in 2022. (6)The capacity amount for this warehouse facility increased from $400 to $600 in 2022. The weighted average interest rate for advance facilities was 3.1% and 3.4% for the three months ended June 30, 2022 and 2021, respectively, and 2.8% and 3.2% for the six months ended June 30, 2022 and 2021, respectively. The weighted average interest rate for warehouse and MSR facilities was 3.1% and 2.1% for three months ended June 30, 2022 and 2021, respectively, and 2.6% and 2.2% for the six months ended June 30, 2022 and 2021, respectively. Unsecured Senior Notes Unsecured senior notes consist of the following:
Unsecured Senior Notes | June 30, 2022 |  | December 31, 2021
$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 |
$600 face value, 5.750% interest rate payable semi-annually, due November 2031 | 600 |  |  | 600 |
Unsecured senior notes principal amount | 2,700 |  |  | 2,700 |
Unamortized debt issuance costs | (28) |  |  | (30) |
Unsecured senior notes, net | $ | 2,672 |  |  | $ | 2,670 |
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 n otes were repurchased or redeemed during th e six months ended June 30, 2022 and 2021. As of June 30, 2022, the expected maturities of the Company’s unsecured senior notes based on contractual maturities are as follows:
Year Ending December 31, |  | Amount
2022 through 2026 |  | $ | — |
Thereafter |  | 2,700 |
Total unsecured senior notes principal amount |  | $ | 2,700 |
Interest Expense Interest expense primarily includes interest incurred on advance and warehouse facilities, unsecured senior notes, excess spread financing and compensating bank balances, as well as bank fees. The Company incurred interest expense related to advance and warehouse facilities, unsecured senior notes and excess spread financing of $90 and $176 for the three and six months ended June 30, 2022, respectively, and $90 and $183 f or the three and six months ended June 30, 2021, respectively. 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, 2022.

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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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://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 https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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