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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | The components of income tax expense were as follows:
| Year Ended December 31,
Total Income Tax Expense | 2024 |  | 2023 |  | 2022
Current Income Taxes |  |  |  |  |
Federal | $ | 1 |  |  | $ | 3 |  |  | $ | (6) |
State | (10) |  |  | 16 |  |  | 8 |
Total current income taxes | (9) |  |  | 19 |  |  | 2 |
Deferred Income Taxes |  |  |  |  |
Federal | 186 |  |  | 110 |  |  | 245 |
State | 55 |  |  | 25 |  |  | 44 |
Total deferred income taxes | 241 |  |  | 135 |  |  | 289 |
Total income tax expense | $ | 232 |  |  | $ | 154 |  |  | $ | 291 |
Schedule of Effective Income Tax Rate Reconciliation | The following table presents a reconciliation of the income tax provision computed at the U.S. federal statutory tax rate to the actual effective tax rate:
| Year Ended December 31,
Reconciliation of the Income Tax Provision | 2024 |  | 2023 |  | 2022
Tax Expense at Federal Statutory Rate | $ | 189 |  |  | $ | 137 |  |  | $ | 255 |
Effect of: |  |  |  |  |
State taxes, net of federal benefit | 36 |  |  | 32 |  |  | 39 |
Nondeductible executive compensation | 13 |  |  | 11 |  |  | 8 |
Share based compensation | (10) |  |  | (9) |  |  | (9) |
Bargain purchase gain(1) | 1 |  |  | (20) |  |  | — |
Other, net | 3 |  |  | 3 |  |  | (2) |
Total income tax expense | $ | 232 |  |  | $ | 154 |  |  | $ | 291 |
Schedule of Deferred Tax Assets and Liabilities | Temporary differences and carryforwards that give rise to deferred tax assets and liabilities are comprised of the following:
Deferred Tax Assets and Liabilities | December 31, 2024 |  | December 31, 2023
Deferred Tax Assets |  |  |
Effect of: |  |  |
Goodwill and intangible assets | $ | 470 |  |  | $ | 585 |
Loss carryforwards (federal, state & capital) | 121 |  |  | 85 |
Loss reserves | 84 |  |  | 101 |
Accruals | 15 |  |  | 20 |
Lease liability | 14 |  |  | 22 |
Depreciation and amortization, net | 10 |  |  | 8 |
Other, net | 18 |  |  | 12 |
Total deferred tax assets | 732 |  |  | 833 |
Deferred Tax Liabilities |  |  |
MSR amortization and mark-to-market, net | (428) |  |  | (282) |
Other investment assets | (53) |  |  | (53) |
Right-of-use assets | (11) |  |  | (18) |
Prepaid assets | — |  |  | (1) |
Total deferred tax liabilities | (492) |  |  | (354) |
Valuation allowance | (10) |  |  | (7) |
Deferred tax assets, net(1) | $ | 230 |  |  | $ | 472 |
Schedule of Unrecognized Tax Benefits Roll Forward | Below is a reconciliation of the changes in the federal and state uncertain tax position balances, exclusive of interest and penalties.
| Year Ended December 31,
Unrecognized Tax Benefits (exclusive of interest and penalties) | 2024 |  | 2023 |  | 2022
Balance - beginning of year | $ | 6 |  |  | $ | — |  |  | $ | — |
Increases in tax positions of prior years | 2 |  |  | 6 |  |  | — |
Decreases in tax positions as a result of lapses in statute | (1) |  |  | — |  |  | — |
Settlements | (1) |  |  | — |  |  | — |
Balance - end of year | $ | 6 |  |  | $ | 6 |  |  | $ | — |

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