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Reverse Mortgage Interests, Net (Tables)
 3 Months Ended
Mar. 31, 2019
Reverse Mortgage Interests [Abstract]  
Reverse Mortgage Interest
Reverse mortgage interests, net consists of the following:
 
Successor
Reverse Mortgage Interests, Net
March 31, 2019
 
December 31, 2018
Participating interests in HECM mortgage-backed securities (“HMBS”), net of $36 and $58 premium, respectively
$
5,293

 
$
5,664

Other interests securitized, net of $112 and $100 discount, respectively
950

 
1,064

Unsecuritized interests, net of $95 and $122 discount, respectively
1,254

 
1,219

Reserves
(8
)
 
(13
)
Total reverse mortgage interests, net
$
7,489

 
$
7,934

Unsecuritized interests in reverse mortgages consists of the following:
 
Successor
 
March 31, 2019
 
December 31, 2018
Repurchased HECM loans (exceeds 98% MCA)
$
941

 
$
949

HECM related receivables
270

 
300

Funded borrower draws not yet securitized
114

 
76

REO-related receivables
24

 
16

Purchase discount
(95
)
 
(122
)
Total unsecuritized interests
$
1,254

 
$
1,219

The following table sets forth the activities of the purchase premiums and discounts for reverse mortgage interests.
 
Successor
 
 Three Months Ended March 31, 2019
Purchase premiums and discounts for reverse mortgage interests
Net Premium for Participating Interests in HMBS(1)
 
Net Discount for Other Interest Securitized(1)
 
Net Discount for Unsecuritized Interests(1)
Balance - beginning of period
$
58

 
$
(100
)
 
$
(122
)
Adjustments(2)
(16
)
 
(2
)
 
(6
)
Utilization of purchase discounts
—

 
6

 
22

(Amortization)/Accretion
(14
)
 
(15
)
 
18

Transfers(3)
8

 
(1
)
 
(7
)
Balance - end of period
$
36

 
$
(112
)
 
$
(95
)

(1) 
Net position as certain items are in a premium/(discount) position, based on the characteristics of underlying tranches of loans.
(2) 
Adjustments to premium/(discount) due to revised cost to service assumption utilized in the valuation of reverse mortgage assets and liabilities acquired from the Merger. See Note 2, Acquisitions for additional information.
(3) 
Transfer of premium/(discount) based on the transfer of associated loans between categories based upon the underlying loan characteristics.

In connection with previous reverse mortgage portfolio acquisitions, the Predecessor recorded a purchase discount within unsecuritized interests. The following table sets forth the activities of the purchase discounts for reverse mortgage interests.
 
Predecessor
Purchase discounts for reverse mortgage interests
 Three Months Ended March 31, 2018
Balance - beginning of period
$
(89
)
Additions
(7
)
Accretion
6

Balance - end of period
$
(90
)
The activity of the reserves for reverse mortgage interests is set forth below.
 
Successor
 
 
Predecessor
Reserves for reverse mortgage interests
Three Months Ended March 31, 2019
 
 
Three Months Ended March 31, 2018
Balance - beginning of period
$
13

 
 
$
115

Provision
—

 
 
26

Write-offs
(5
)
 
 
(7
)
Balance - end of period
$
8

 
 
$
134