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Business Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2019

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information

Financial information for our segments is as follows:

	Three Months Ended March 31, 2019
Results of Operations	Servicing				Lending				Corporate Items and Other				Corporate Eliminations				Business Segments Consolidated
Revenue	$	259,274			$	41,091			$	3,523			$	—			$	303,888
Expenses (1) (2)	265,898				21,331				(7,124		)		—				280,105
Other income (expense):
Interest income	2,294				1,549				715				—				4,558
Interest expense	(54,698		)		(1,668		)		(14,079		)		—				(70,445		)
Bargain purchase gain	—				—				(285		)		—				(285		)
Other	1,525				219				(439		)		—				1,305
Other income (expense), net	(50,879		)		100				(14,088		)		—				(64,867		)
Income (loss) before income taxes	$	(57,503	)		$	19,860			$	(3,441	)		$	—			$	(41,084	)

	Three Months Ended March 31, 2018
Results of Operations	Servicing				Lending				Corporate Items and Other				Corporate Eliminations				Business Segments Consolidated
Revenue	$	226,096			$	29,195			$	4,966			$	—			$	260,257
Expenses (1)	171,095				20,296				15,110				—				206,501
Other income (expense):
Interest income	429				1,492				779				—				2,700
Interest expense	(34,517		)		(1,946		)		(14,347		)		—				(50,810		)
Other	(429		)		325				(577		)		—				(681		)
Other expense, net	(34,517		)		(129		)		(14,145		)		—				(48,791		)
Income (loss) before income taxes	$	20,484			$	8,770			$	(24,289	)		$	—			$	4,965

Total Assets		Servicing				Lending				Corporate Items and Other				Corporate Eliminations				Business Segments Consolidated
March 31, 2019		$	3,221,779			$	5,848,830			$	466,601			$	—			$	9,537,210
December 31, 2018		$	3,306,208			$	5,603,481			$	484,527			$	—			$	9,394,216
March 31, 2018		$	2,938,827			$	5,131,232			$	393,259			$	—			$	8,463,318

Depreciation and Amortization Expense		Servicing				Lending				Corporate Items and Other				Business Segments Consolidated
Three months ended March 31, 2019
Depreciation expense		$	806			$	36			$	7,709			$	8,551
Amortization of debt discount		—				—				351				351
Amortization of debt issuance costs		—				—				700				700
Three months ended March 31, 2018
Depreciation expense		$	1,358			$	29			$	5,140			$	6,527
Amortization of debt discount		—				—				264				264
Amortization of debt issuance costs		—				—				656				656

(1) Compensation and benefits expense in the Corporate Items and Other segment for the three months ended March 31, 2019 and 2018 includes $18.5 million and $5.6 million, respectively, of severance expense attributable to PHH integration-related headcount reductions of primarily U.S.-based employees in 2019 and headcount reductions in connection with our strategic decisions to exit the automotive capital services business and the forward lending correspondent and wholesale channels in late 2017 and early 2018, as well as our overall efforts to reduce costs.

(2) In the Corporate Items and Other segment for the three months ended March 31, 2019, we recorded in Professional services expense a recovery from a service provider of $30.7 million of amounts previously recognized as expense.

Depreciation and Amortization [Member]

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information

Depreciation and Amortization Expense		Servicing				Lending				Corporate Items and Other				Business Segments Consolidated
Three months ended March 31, 2019
Depreciation expense		$	806			$	36			$	7,709			$	8,551
Amortization of debt discount		—				—				351				351
Amortization of debt issuance costs		—				—				700				700
Three months ended March 31, 2018
Depreciation expense		$	1,358			$	29			$	5,140			$	6,527
Amortization of debt discount		—				—				264				264
Amortization of debt issuance costs		—				—				656				656

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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