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Consolidated Statements Of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities:    
Premiums, fees and reimbursements received $ 3 $ 3
Investment income received 21 37
Financial guarantee losses and loss adjustment expenses paid (58) (75)
Proceeds from recoveries and reinsurance 17 10
Proceeds from loan repurchase commitments 600 0
Operating and employee related expenses paid (32) (34)
Interest paid, net of interest converted to principal (22) (23)
Net cash provided (used) by operating activities 529 (82)
Cash flows from investing activities:    
Purchases of available-for-sale investments (299) (242)
Sales of available-for-sale investments 178 279
Paydowns and maturities of available-for-sale investments 96 123
Purchases of investments at fair value (62) (33)
Sales, paydowns, maturities and other proceeds of investments at fair value 59 34
Sales, paydowns and maturities (purchases) of short-term investments, net (342) 178
Sales, paydowns and maturities of held-to-maturity investments 0 315
Paydowns and maturities of loans receivable 5 3
(Payments) proceeds for derivative settlements (53) (3)
Collateral (to) from counterparties 0 (44)
Net cash provided (used) by investing activities (418) 610
Cash flows from financing activities:    
Proceeds from investment agreements 0 3
Principal paydowns of investment agreements 0 (12)
Principal paydowns of variable interest entity notes (156) (323)
Purchases of treasury stock (1) (62)
Net cash provided (used) by financing activities (157) (394)
Net increase (decrease) in cash and cash equivalents (46) 134
Cash and cash equivalents - beginning of period 167 83
Cash and cash equivalents - end of period 121 217
Reconciliation of net income (loss) to net cash provided (used) by operating activities:    
Net income (loss) (106) (333)
Change in:    
Accrued investment income 23 0
Unearned premium revenue (19) (19)
Loss and loss adjustment expense reserves 1 84
Insurance loss recoverable 55 86
Loan repurchase commitments 604 0
Accrued interest payable 25 35
Accrued expenses (33) (19)
Net (gains) losses on financial instruments at fair value and foreign exchange (41) 48
Other net realized (gains) losses 0 9
Other operating 20 27
Total adjustments to net income (loss) 635 251
Net cash provided (used) by operating activities $ 529 $ (82)