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Indebtedness | 12 Months Ended
--- | ---
Dec. 31, 2022
Debt Disclosure [Abstract] |
Indebtedness | 12. Indebtedness Advance and Warehouse Facilities
|  |  |  |  |  |  |  | December 31, 2022 |  | December 31, 2021
|  | Maturity Date |  | Collateral |  | Capacity Amount |  | Outstanding |  | Collateral Pledged |  | Outstanding |  | Collateral Pledged
Advance Facilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
$350 advance facility |  | October 2024 |  | Servicing advance receivables |  | $ | 350 |  |  | $ | 150 |  |  | $ | 189 |  |  | $ | 234 |  |  | $ | 318 |
$350 advance facility(1) |  | January 2024 |  | Servicing advance receivables |  | 350 |  |  | 171 |  |  | 209 |  |  | 160 |  |  | 197 |
$350 advance facility(2) |  | November 2024 |  | Servicing advance receivables |  | 350 |  |  | 308 |  |  | 410 |  |  | 162 |  |  | 190 |
$75 advance facility |  | December 2023 |  | Servicing advance receivables |  | 75 |  |  | 40 |  |  | 45 |  |  | 58 |  |  | 89 |
Advance facilities principal amount |  |  |  |  |  | 669 |  |  | 853 |  |  | 614 |  |  | 794 |
Warehouse Facilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
$1,500 Warehouse Facility |  | June 2023 |  | Mortgage loans or MBS |  | 1,500 |  |  | 206 |  |  | 272 |  |  | 1,224 |  |  | 1,341 |
$1,500 Warehouse Facility |  | June 2023 |  | Mortgage loans or MBS |  | 1,500 |  |  | 135 |  |  | 133 |  |  | 356 |  |  | 345 |
$750 Warehouse Facility |  | October 2023 |  | Mortgage loans or MBS |  | 750 |  |  | 202 |  |  | 209 |  |  | 991 |  |  | 1,024 |
$750 Warehouse Facility(3) |  | October 2022 |  | Mortgage loans or MBS |  | — |  |  | — |  |  | — |  |  | 256 |  |  | 270 |
$500 Warehouse Facility(4) |  | September 2024 |  | Mortgage loans or MBS |  | 500 |  |  | 14 |  |  | 17 |  |  | 409 |  |  | 425 |
$500 Warehouse Facility |  | June 2023 |  | Mortgage loans or MBS |  | 500 |  |  | 76 |  |  | 80 |  |  | 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 |
$300 Warehouse Facility |  | August 2023 |  | Mortgage loans or MBS |  | 300 |  |  | 115 |  |  | 117 |  |  | 419 |  |  | 430 |
$250 Warehouse Facility |  | April 2023 |  | Mortgage loans or MBS |  | 250 |  |  | — |  |  | — |  |  | 5 |  |  | 6 |
$200 Warehouse Facility |  | April 2023 |  | Mortgage loans or MBS |  | 200 |  |  | 19 |  |  | 28 |  |  | 46 |  |  | 58 |
$200 Warehouse Facility |  | June 2023 |  | Mortgage loans or MBS |  | 200 |  |  | 18 |  |  | 21 |  |  | 188 |  |  | 194 |
$125 Warehouse Facility |  | December 2023 |  | Mortgage loans or MBS |  | 125 |  |  | 1 |  |  | 1 |  |  | 67 |  |  | 67 |
$30 Warehouse Facility(5) |  | January 2022 |  | Mortgage loans or MBS |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Warehouse facilities principal amount |  | 817 |  |  | 910 |  |  | 4,125 |  |  | 4,327 |
MSR Facilities |  |  |  |  |  |  |  |  |  |  |  |  |  |
$1,050 Warehouse Facility(2) |  | November 2024 |  | MSR |  | 1,050 |  |  | 260 |  |  | 2,284 |  |  | 260 |  |  | 1,107 |
$600 Warehouse Facility |  | April 2023 |  | MSR |  | 600 |  |  | 380 |  |  | 927 |  |  | — |  |  | 838 |
$500 Warehouse Facility(4) |  | September 2024 |  | MSR |  | 500 |  |  | 380 |  |  | 1,482 |  |  | — |  |  | 745 |
$500 Warehouse Facility |  | June 2024 |  | MSR |  | 500 |  |  | 365 |  |  | 732 |  |  | — |  |  | — |
$50 Warehouse Facility |  | November 2023 |  | MSR |  | 50 |  |  | 25 |  |  | 74 |  |  | 10 |  |  | 124 |
MSR facilities principal amount |  | 1,410 |  |  | 5,499 |  |  | 270 |  |  | 2,814 |
Advance, warehouse and MSR facilities principal amount |  | 2,896 |  |  | $ | 7,262 |  |  | 5,009 |  |  | $ | 7,935 |
Unamortized debt issuance costs |  | (11) |  |  |  |  | (12) |  |  |
Total advance and warehouse facilities, net |  | $ | 2,885 |  |  |  |  | $ | 4,997 |  |  |
(1)The capacity decreased in January 2023 to $250. (2)Total capacity for this facility is $1,400, of which $350 and $1,050 are internally allocated for advance financing and MSR financing, respectively; capacity is fully fungible and is not restricted by these allocations. (3)This facility was terminated in October 2022. (4)The capacity amount for this facility is $1,000, of which $500 is a sublimit for MSR financing. (5)This facility was terminated in January 2022. The weighted average interest rate for advance facilities was 4.1% and 2.8% for the year ended December 31, 2022 and 2021, respectively. The weighted average interest rate for warehouse and MSR facilities was 4.0% and 2.0% for the year ended December 31, 2022 and 2021, respectively. Unsecured Senior Notes Unsecured senior notes consist of the following:
Unsecured Senior Notes | December 31, 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 and discount, net of premium | (27) |  |  | (30) |
Unsecured senior notes, net | $ | 2,673 |  |  | $ | 2,670 |
The ratios included in the indentures for the unsecured senior notes are incurrence-based compared to the customary ratio covenants that are often found in credit agreements that require a company to maintain a certain ratio. The incurrence-based covenants limit the issuer(s) and restricted subsidiaries ability to incur additional indebtedness, pay dividends, make certain investments, create liens, consolidate, merge or sell substantially all of their assets or enter into certain transactions with affiliates. The indentures contain certain events of default, including (subject, in some cases, to customary cure periods and materiality thresholds) defaults based on (i) the failure to make payments under the applicable indenture when due, (ii) breach of covenants, (iii) cross-defaults to certain other indebtedness, (iv) certain bankruptcy or insolvency events, (v) material judgments and (vi) invalidity of material guarantees. 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 the year ended December 31, 2022 and 2021. As of December 31, 2022, the expected maturities of the Company’s unsecured senior notes based on contractual maturities are as follows:
Year Ending December 31, |  | Amount
2023 through 2026 |  | $ | — |
2027 |  | 600 |
Thereafter |  | 2,100 |
Total unsecured senior notes principal amount |  | $ | 2,700 |
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 December 31, 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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