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Mortgage Loans Held for Sale and Investment (Tables)
 3 Months Ended
Mar. 31, 2019
Mortgage Loans Held for Sale and Investment [Abstract]  
Schedule of Mortgage Loans Held-for-Sale
The total UPB of mortgage loans held for sale on non-accrual status was as follows:
 
Successor
 
March 31, 2019
 
December 31, 2018
Mortgage Loans Held for Sale - UPB
UPB
 
Fair Value
 
UPB
 
Fair Value
Non-accrual(1)
$
26

 
$
23

 
$
45

 
$
42



(1) 
Non-accrual includes $22 and $40 of UPB related to Ginnie Mae repurchased loans as of March 31, 2019 and December 31, 2018, respectively.
Mortgage loans held for sale are recorded at fair value as set forth below.
 
Successor
 
March 31, 2019
 
December 31, 2018
Mortgage loans held for sale – UPB
$
2,077

 
$
1,568

Mark-to-market adjustment(1)
93

 
63

Total mortgage loans held for sale
$
2,170

 
$
1,631



(1) 
The mark-to-market adjustment is recorded in net gain on mortgage loans held for sale in the consolidated statements of operations.
Reconciliation of Mortgage Loans Held-for-Sale to Cash Flow
The following table details a roll forward of the change in the account balance of mortgage loans held for sale.
 
Successor
 
 
Predecessor
Mortgage loans held for sale
Three Months Ended March 31, 2019
 
 
Three Months Ended March 31, 2018
Balance - beginning of period
$
1,631

 
 
$
1,891

Mortgage loans originated and purchased, net of fees(1)
6,252

 
 
5,088

Loans sold
(6,088
)
 
 
(5,649
)
Repurchase of loans out of Ginnie Mae securitizations
364

 
 
251

Transfer of mortgage loans held for sale to advances/accounts receivable, net related to claims(2)
(3
)
 
 
(3
)
Net transfer of mortgage loans held for sale from REO in other assets(3)
3

 
 
8

Changes in fair value
10

 
 
(5
)
Other purchase-related activities(4)
1

 
 
8

Balance - end of period
$
2,170

 
 
$
1,589



(1) 
Mortgage loans originated and purchased during the three months ended March 31, 2019 includes $536 of loans held for sale that were acquired from Pacific Union. See Note 2, Acquisitions for further discussion.
(2) 
Amounts are comprised of claims made on certain government insured mortgage loans upon completion of the REO sale.
(3) 
Net amounts are comprised of REO in the sales process, which are transferred to other assets, and certain government insured mortgage REO, which are transferred from other assets upon completion of the sale so that the claims process can begin.
(4) 
Amounts are comprised primarily of non-Ginnie Mae loan purchases and buyouts.
Schedule of Loans Held for Investment
The following sets forth the composition of mortgage loans held for investment, net.
 
Successor
 
March 31, 2019
 
December 31, 2018
Mortgage loans held for investment, net – UPB
$
153

 
$
156

Fair value adjustments
(35
)
 
(37
)
Total mortgage loans held for investment at fair value
$
118

 
$
119

The total UPB of mortgage loans held for investment on non-accrual status was as follows for the dates indicated.
 
Successor
 
March 31, 2019
 
December 31, 2018
Mortgage Loans Held for Investment - UPB
UPB
 
Fair Value
 
UPB
 
Fair Value
Non-accrual
$
25

 
$
11

 
$
27

 
$
13


The following table details a roll forward of the change in the account balance of mortgage loans held for investment.
 
Successor
Mortgage loans held for investment at fair value
March 31, 2019
Balance - beginning of period
$
119

Payments received from borrowers
(2
)
Changes in fair value
1

Balance - end of period
$
118