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Derivative Financial Instruments
 3 Months Ended
Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
9. Derivative Financial Instrument

Derivative instruments utilized by the Company primarily include interest rate lock commitments (“IRLCs”), loan purchase commitments (“LPCs”), forward Mortgage Backed Securities (“MBS”) purchase commitments, Eurodollar and Treasury futures and interest rate swap agreements.

Associated with the Company’s derivatives are $15 and $12 in collateral deposits on derivative instruments recorded in other assets on the Company’s consolidated balance sheets as of March 31, 2019 and December 31, 2018, respectively. The Company does not offset fair value amounts recognized for derivative instruments with amounts collected or deposited on derivative instruments in the consolidated balance sheets.

The following table provides the outstanding notional balances, fair values of outstanding positions and recorded gains/(losses).
 
 
 
Successor
 
 
 
March 31, 2019
 
Three Months Ended March 31, 2019
 
Expiration
Dates
 
Outstanding
Notional
 
Fair
Value
 
Recorded Gains/(Losses)
Assets
 
 
 
 
 
 
 
Mortgage loans held for sale
 
 
 
 
 
 
 
Loan sale commitments
2019
 
$
365

 
$
17.2

 
$
(8.7
)
Derivative financial instruments
 
 
 
 
 
 
 
IRLCs
2019
 
2,557

 
68.9

 
9.1

Forward sales of MBS
2019
 
410

 
1.3

 
(0.5
)
LPCs
2019
 
216

 
2.0

 
0.3

Eurodollar futures(1)
2019-2021
 
7

 
—

 
—

Liabilities
 
 
 
 
 
 
 
Derivative financial instruments
 
 
 
 
 
 
 
IRLCs(1)
2019
 
—

 
—

 
—

Forward sales of MBS
2019
 
3,804

 
21.3

 
(2.6
)
LPCs
2019
 
52

 
0.2

 
(0.2
)
Eurodollar futures(1)
2019-2021
 
13

 
—

 
—



 
 
 
Predecessor
 
 
 
March 31, 2018
 
Three Months Ended March 31, 2018
 
Expiration
Dates
 
Outstanding
Notional
 
Fair
Value
 
Recorded Gains/(Losses)
Assets
 
 
 
 
 
 
 
Mortgage loans held for sale
 
 
 
 
 
 
 
Loan sale commitments
2018
 
$
427

 
$
8.9

 
$
8.8

Derivative financial instruments
 
 
 
 
 
 
 
IRLCs
2018
 
1,968

 
57.4

 
(1.9
)
Forward sales of MBS
2018
 
1,130

 
5.7

 
3.3

LPCs
2018
 
223

 
1.0

 
0.1

Treasury futures
2018
 
331

 
1.3

 
(0.6
)
Eurodollar futures(1)
2018-2021
 
30

 
—

 
—

Liabilities
 
 
 
 
 
 
 
Derivative financial instruments
 
 
 
 
 
 
 
IRLCs(1)
2018
 
8

 
—

 
—

Forward sales of MBS
2018
 
2,384

 
7.3

 
4.5

LPCs
2018
 
116

 
0.5

 
(0.1
)
Treasury futures
2018
 
223

 
1.2

 
(0.2
)
Eurodollar futures(1)
2020-2021
 
6

 
—

 
—


(1) 
Fair values or recorded gains/(losses) of derivative instruments are less than $0.1 for the specified dates.