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Guarantor Financial Statement Information (Tables)
9 Months Ended
Sep. 30, 2019
Condensed Financial Information Disclosure [Abstract]  
Consolidating Balance Sheet
MR. COOPER GROUP INC.
CONSOLIDATING BALANCE SHEET
DECEMBER 31, 2018
 
Successor
 
Mr. Cooper
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$

 
$
193

 
$
1

 
$
48

 
$

 
$
242

Restricted cash

 
186

 

 
133

 

 
319

Mortgage servicing rights

 
3,644

 

 
32

 

 
3,676

Advances and other receivables, net

 
1,194

 

 

 

 
1,194

Reverse mortgage interests, net

 
6,770

 

 
1,164

 

 
7,934

Mortgage loans held for sale at fair value

 
1,631

 

 

 

 
1,631

Mortgage loans held for investment at fair value

 
1

 

 
118

 

 
119

Property and equipment, net

 
84

 

 
12

 

 
96

Deferred tax asset, net
973

 

 

 
(6
)
 

 
967

Other assets

 
660

 
202

 
621

 
(688
)
 
795

Investment in subsidiaries
2,820

 
601

 

 

 
(3,421
)
 

Total assets
$
3,793

 
$
14,964

 
$
203

 
$
2,122

 
$
(4,109
)
 
$
16,973

 
 
 
 
 
 
 
 
 
 
 
 
Liabilities and Stockholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
Unsecured senior notes, net
$
1,660

 
$
799

 
$

 
$

 
$

 
$
2,459

Advance facilities, net

 
90

 

 
505

 

 
595

Warehouse facilities, net

 
2,349

 

 

 

 
2,349

Payables and other liabilities
49

 
1,413

 
1

 
80

 

 
1,543

MSR related liabilities - nonrecourse at fair value

 
1,197

 

 
19

 

 
1,216

Mortgage servicing liabilities

 
71

 

 

 

 
71

Other nonrecourse debt, net

 
5,676

 

 
1,119

 

 
6,795

Payables to affiliates
139

 
549

 

 

 
(688
)
 

Total liabilities
1,848

 
12,144

 
1

 
1,723

 
(688
)
 
15,028

Total stockholders’ equity
1,945

 
2,820

 
202

 
399

 
(3,421
)
 
1,945

Total liabilities and stockholders’ equity
$
3,793

 
$
14,964

 
$
203

 
$
2,122

 
$
(4,109
)
 
$
16,973



(1) 
Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC.
CONSOLIDATING BALANCE SHEET
SEPTEMBER 30, 2019
 
Successor
 
Mr. Cooper
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$

 
$
331

 
$
1

 
$
39

 
$

 
$
371

Restricted cash

 
155

 

 
116

 

 
271

Mortgage servicing rights

 
3,322

 

 
24

 

 
3,346

Advances and other receivables, net

 
966

 

 
1

 

 
967

Reverse mortgage interests, net

 
5,733

 

 
929

 

 
6,662

Mortgage loans held for sale at fair value

 
4,267

 

 

 

 
4,267

Property and equipment, net

 
94

 

 
19

 

 
113

Deferred tax asset, net
984

 
46

 

 
2

 

 
1,032

Other assets

 
1,317

 
213

 
814

 
(895
)
 
1,449

Investment in subsidiaries
2,612

 
682

 

 

 
(3,294
)
 

Total assets
$
3,596

 
$
16,913

 
$
214

 
$
1,944

 
$
(4,189
)
 
$
18,478

 
 
 
 
 
 
 
 
 
 
 
 
Liabilities and Stockholders’ Equity
 
 
 
 
 
 
 
 
 
 
 
Unsecured senior notes, net
$
1,665

 
$
799

 
$

 
$

 
$

 
$
2,464

Advance facilities, net

 
64

 

 
449

 

 
513

Warehouse facilities, net

 
4,802

 

 

 

 
4,802

Payables and other liabilities
23

 
1,905

 
2

 
72

 

 
2,002

MSR related liabilities - nonrecourse at fair value

 
1,313

 

 
15

 

 
1,328

Mortgage servicing liabilities

 
69

 

 

 

 
69

Other nonrecourse debt, net

 
4,596

 

 
937

 

 
5,533

Payables to affiliates
141

 
753

 

 
1

 
(895
)
 

Total liabilities
1,829

 
14,301

 
2

 
1,474

 
(895
)
 
16,711

Total stockholders’ equity
1,767

 
2,612

 
212

 
470

 
(3,294
)
 
1,767

Total liabilities and stockholders’ equity
$
3,596

 
$
16,913

 
$
214

 
$
1,944

 
$
(4,189
)
 
$
18,478



(1) 
Issuer balances exclude the balances of its guarantor and non-guarantor subsidiaries, as previously described.
Consolidating Statement of Operations
MR. COOPER GROUP INC.
CONSOLIDATING STATEMENT OF OPERATIONS
TWO MONTHS ENDED SEPTEMBER 30, 2018
 
Successor
 
Nationstar
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Service related, net
$

 
$
183

 
$
4

 
$
72

 
$

 
$
259

Net gain on mortgage loans held for sale

 
83

 

 

 

 
83

Total revenues

 
266

 
4

 
72

 

 
342

Expenses:
 
 
 
 
 
 
 
 
 
 
 
Salaries, wages and benefits

 
107

 
1

 
31

 

 
139

General and administrative
1

 
91

 
1

 
43

 

 
136

Total expenses
1

 
198

 
2

 
74

 

 
275

Other income (expenses):
 
 
 
 
 
 
 
 
 
 
 
Interest income

 
80

 

 
10

 

 
90

Interest expense
(26
)
 
(87
)
 

 
(9
)
 

 
(122
)
Other income
1

 
5

 

 

 

 
6

Gain (loss) from subsidiaries
56

 
1

 

 

 
(57
)
 

Total other income (expenses), net
31

 
(1
)
 

 
1

 
(57
)
 
(26
)
Income (loss) before income tax expense (benefit)
30

 
67

 
2

 
(1
)
 
(57
)
 
41

Less: Income tax (benefit) expense
(990
)
 
11

 

 

 

 
(979
)
Net income (loss)
1,020

 
56

 
2

 
(1
)
 
(57
)
 
1,020

Less: Net income (loss) attributable to non-controlling interests

 

 

 

 

 

Net income (loss) attributable to Nationstar
$
1,020

 
$
56

 
$
2

 
$
(1
)
 
$
(57
)
 
$
1,020


(1) 
Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC.
CONSOLIDATING STATEMENT OF OPERATIONS
ONE MONTH ENDED JULY 31, 2018
 
Predecessor
 
Nationstar
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Service related, net
$

 
$
95

 
$
3

 
$
22

 
$

 
$
120

Net gain on mortgage loans held for sale

 
44

 

 

 

 
44

Total revenues

 
139

 
3

 
22

 

 
164

Expenses:
 
 
 
 
 
 
 
 
 
 
 
Salaries, wages and benefits

 
59

 

 
10

 

 
69

General and administrative
27

 
136

 

 
10

 

 
173

Total expenses
27

 
195

 

 
20

 

 
242

Other income (expenses):
 
 
 
 
 
 
 
 
 
 
 
Interest income

 
41

 

 
7

 

 
48

Interest expense

 
(49
)
 

 
(4
)
 

 
(53
)
Other income (expense)

 

 

 

 

 

(Loss) gain from subsidiaries
(37
)
 
7

 

 

 
30

 

Total other income (expenses), net
(37
)
 
(1
)
 

 
3

 
30

 
(5
)
(Loss) income before income tax (benefit) expense
(64
)
 
(57
)
 
3

 
5

 
30

 
(83
)
Less: Income tax (benefit) expense

 
(20
)
 

 
1

 

 
(19
)
Net loss) income
(64
)
 
(37
)
 
3

 
4

 
30

 
(64
)
Less: Net income (loss) attributable to non-controlling interests

 

 

 

 

 

Net (loss) income attributable to Nationstar
$
(64
)
 
$
(37
)
 
$
3

 
$
4

 
$
30

 
$
(64
)

MR. COOPER GROUP INC.
CONSOLIDATING STATEMENT OF OPERATIONS
SEVEN MONTHS ENDED JULY 31, 2018
 
Predecessor
 
Nationstar
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Service related, net
$

 
$
732

 
$
16

 
$
153

 
$

 
$
901

Net gain on mortgage loans held for sale

 
295

 

 

 

 
295

Total revenues

 
1,027

 
16

 
153

 

 
1,196

Expenses:
 
 
 
 
 
 
 
 
 
 
 
Salaries, wages and benefits

 
359

 
3

 
64

 

 
426

General and administrative
27

 
427

 
1

 
64

 

 
519

Total expenses
27

 
786

 
4

 
128

 

 
945

Other income (expenses):
 
 
 
 
 
 
 
 
 
 
 
Interest income

 
299

 

 
34

 

 
333

Interest expense

 
(364
)
 

 
(24
)
 

 
(388
)
Other income (expense)

 
(3
)
 

 
9

 

 
6

Gain (loss) from subsidiaries
181

 
56

 

 

 
(237
)
 

Total other income (expenses), net
181

 
(12
)
 

 
19

 
(237
)
 
(49
)
Income (loss) before income tax expense
154

 
229

 
12

 
44

 
(237
)
 
202

Less: Income tax expense

 
48

 

 

 

 
48

Net income (loss)
154

 
181

 
12

 
44

 
(237
)
 
154

Less: Net income (loss) attributable to non-controlling interests

 

 

 

 

 

Net income (loss) attributable to Nationstar
$
154

 
$
181

 
$
12

 
$
44

 
$
(237
)
 
$
154


(1) 
Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC.
CONSOLIDATING STATEMENT OF OPERATIONS
THREE MONTHS ENDED SEPTEMBER 30, 2019
 
Successor
 
Mr. Cooper
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Service related, net
$

 
$
137

 
$
5

 
$
116

 
$

 
$
258

Net gain on mortgage loans held for sale

 
349

 

 
11

 

 
360

Total revenues

 
486

 
5

 
127

 

 
618

Expenses:
 
 
 
 
 
 
 
 
 
 
 
Salaries, wages benefits

 
209

 
1

 
40

 

 
250

General and administrative

 
185

 

 
43

 

 
228

Total expenses

 
394

 
1

 
83

 

 
478

Other income (expenses):
 
 
 
 
 
 
 
 
 
 
 
Interest income

 
127

 

 
36

 

 
163

Interest expense
(37
)
 
(143
)
 

 
(16
)
 

 
(196
)
Other income (expenses)

 
(3
)
 

 
3

 

 

Gain (loss) from subsidiaries
121

 
71

 

 

 
(192
)
 

Total other income (expenses), net
84

 
52

 

 
23

 
(192
)
 
(33
)
Income (loss) before income tax benefit
84

 
144

 
4

 
67

 
(192
)
 
107

Less: Income tax expense

 
24

 

 

 

 
24

Net income (loss)
84

 
120

 
4

 
67

 
(192
)
 
83

Less: Net loss attributable to non-controlling interests

 
(1
)
 

 

 

 
(1
)
Net income (loss) attributable to Mr. Cooper
$
84

 
$
121

 
$
4

 
$
67

 
$
(192
)
 
$
84



(1) 
Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC.
CONSOLIDATING STATEMENT OF OPERATIONS
NINE MONTHS ENDED SEPTEMBER 30, 2019
 
Successor
 
Mr. Cooper
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Service related, net
$

 
$
139

 
$
16

 
$
324

 
$

 
$
479

Net gain on mortgage loans held for sale

 
777

 

 
11

 

 
788

Total revenues

 
916

 
16

 
335

 

 
1,267

Expenses:
 
 
 
 
 
 
 
 
 
 
 
Salaries, wages benefits

 
581

 
3

 
119

 

 
703

General and administrative

 
529

 
2

 
179

 

 
710

Total expenses

 
1,110

 
5

 
298

 

 
1,413

Other income (expenses):
 
 
 
 
 
 
 
 
 
 
 
Interest income

 
392

 

 
67

 

 
459

Interest expense
(114
)
 
(411
)
 

 
(47
)
 

 
(572
)
Other income (expenses)

 
2

 

 
14

 

 
16

(Loss) gain from subsidiaries
(75
)
 
82

 

 

 
(7
)
 

Total other income (expenses), net
(189
)
 
65

 

 
34

 
(7
)
 
(97
)
(Loss) income before income tax benefit
(189
)
 
(129
)
 
11

 
71

 
(7
)
 
(243
)
Less: Income tax benefit

 
(52
)
 

 

 

 
(52
)
Net (loss) income
(189
)
 
(77
)
 
11

 
71

 
(7
)
 
(191
)
Less: Net loss attributable to non-controlling interests

 
(2
)
 

 

 

 
(2
)
Net (loss) income attributable to Mr. Cooper
$
(189
)
 
$
(75
)
 
$
11

 
$
71

 
$
(7
)
 
$
(189
)

(1) 
Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

Consolidating Statement of Cash Flows
MR. COOPER GROUP INC.
CONSOLIDATING STATEMENT OF CASH FLOWS
TWO MONTHS ENDED SEPTEMBER 30, 2018
 
Successor
 
Nationstar
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Operating Activities
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) attributable to Mr. Cooper
$
1,020

 
$
56

 
$
2

 
$
(1
)
 
$
(57
)
 
$
1,020

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:
 
 
 
 
 
 
 
 
 
 
 
Deferred income tax (benefit) expense
(990
)
 
52

 

 
7

 

 
(931
)
Net income attributable to non-controlling interests

 

 

 

 

 

(Gain) loss from subsidiaries
(56
)
 
(1
)
 

 

 
57

 

Net gain on mortgage loans held for sale

 
(83
)
 

 

 

 
(83
)
Interest income on reverse mortgage loans

 
(72
)
 

 

 

 
(72
)
Provision for servicing reserves

 
14

 

 

 

 
14

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

 
(27
)
 

 

 

 
(27
)
Fair value changes in excess spread financing

 
26

 

 

 

 
26

Amortization of premiums, net of discount accretion
1

 
2

 

 

 

 
3

Depreciation and amortization for property and equipment and intangible assets

 
13

 

 
2

 

 
15

Share-based compensation

 
2

 

 

 

 
2

Repurchases of forward loans assets out of Ginnie Mae securitizations

 
(223
)
 

 

 

 
(223
)
Mortgage loans originated and purchased for sale, net of fees

 
(3,458
)
 

 

 

 
(3,458
)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

 
3,537

 

 
9

 

 
3,546

Changes in assets and liabilities:
 
 
 
 
 
 
 
 
 
 


Advances and other receivables

 
76

 

 

 

 
76

Reverse mortgage interests

 
425

 

 
17

 

 
442

Other assets

 
25

 
(3
)
 
(37
)
 

 
(15
)
Payables and other liabilities
19

 
(179
)
 
1

 

 

 
(159
)
Net cash attributable to operating activities
(6
)
 
185

 

 
(3
)
 

 
176


(1) 
Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC.
CONSOLIDATING STATEMENT OF CASH FLOWS
TWO MONTHS ENDED SEPTEMBER 30, 2018
(Continued)
 
Successor
 
Nationstar
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Investing Activities
 
 
 
 
 
 
 
 
 
 
 
Acquisition, net of cash acquired

 

 

 
(33
)
 

 
(33
)
Property and equipment additions, net of disposals

 
(20
)
 

 
6

 

 
(14
)
Purchase of forward mortgage servicing rights, net of liabilities incurred

 
(63
)
 

 

 

 
(63
)
Proceeds on sale of forward and reverse mortgage servicing rights

 
60

 

 

 

 
60

Net cash attributable to investing activities

 
(23
)
 

 
(27
)
 

 
(50
)
Financing Activities
 
 
 
 
 
 
 
 
 
 
 
Increase in warehouse facilities

 
186

 

 

 

 
186

(Decrease) increase in advance facilities

 
(17
)
 

 
63

 

 
46

Repayment of HECM securitizations

 

 

 
(91
)
 

 
(91
)
Proceeds from issuance of participating interest financing in reverse mortgage interests

 
45

 

 

 

 
45

Repayment of participating interest financing in reverse mortgage interests

 
(403
)
 

 

 

 
(403
)
Proceeds from issuance of excess spread financing

 
84

 

 

 

 
84

Repayment of excess spread financing

 
(21
)
 

 

 

 
(21
)
Settlement of excess spread financing

 
(31
)
 

 

 

 
(31
)
Repayment of nonrecourse debt - legacy assets

 

 

 
(3
)
 

 
(3
)
Redemption and repayment of unsecured senior notes

 
(1,030
)
 

 

 

 
(1,030
)
Debt financing costs

 
(1
)
 

 

 

 
(1
)
Net cash attributable to financing activities

 
(1,188
)
 

 
(31
)
 

 
(1,219
)
Net decrease in cash, cash equivalents, and restricted cash
(6
)
 
(1,026
)
 

 
(61
)
 

 
(1,093
)
Cash, cash equivalents, and restricted cash - beginning of period
11

 
1,358

 
1

 
253

 

 
1,623

Cash, cash equivalents, and restricted cash - end of period
$
5

 
$
332

 
$
1

 
$
192

 
$

 
$
530



(1) 
Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.
MR. COOPER GROUP INC.
CONSOLIDATING STATEMENT OF CASH FLOWS
SEVEN MONTHS ENDED JULY 31, 2018
 
Predecessor
 
Nationstar
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Operating Activities
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) attributable to Nationstar
$
154

 
$
181

 
$
12

 
$
44

 
$
(237
)
 
$
154

Adjustments to reconcile net income (loss) to net cash attributable to operating activities:
 
 
 
 
 
 
 
 
 
 
 
(Gain) loss from subsidiaries
(181
)
 
(56
)
 

 

 
237

 

Net gain on mortgage loans held for sale

 
(295
)
 

 

 

 
(295
)
Interest income on reverse mortgage loans

 
(274
)
 

 

 

 
(274
)
Gain on sale of assets

 

 

 
(9
)
 

 
(9
)
MSL related increased obligations

 
59

 

 

 

 
59

Provision for servicing reserves

 
70

 

 

 

 
70

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

 
(178
)
 

 
1

 

 
(177
)
Fair value changes in excess spread financing

 
81

 

 

 

 
81

Fair value changes in mortgage servicing rights financing liability

 
16

 

 

 

 
16

Amortization of premiums, net of discount accretion

 
11

 

 
(3
)
 

 
8

Depreciation and amortization for property and equipment and intangible assets

 
26

 

 
7

 

 
33

Share-based compensation

 
16

 

 
1

 

 
17

Other loss

 
3

 

 

 

 
3

Repurchases of forward loans assets out of Ginnie Mae securitizations

 
(544
)
 

 

 

 
(544
)
Mortgage loans originated and purchased for sale, net of fees

 
(12,328
)
 

 

 

 
(12,328
)
Sale proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

 
13,381

 

 
11

 

 
13,392

Changes in assets and liabilities:
 
 
 
 
 
 
 
 
 
 
 
Advances and other receivables

 
377

 

 

 

 
377

Reverse mortgage interests

 
1,866

 

 
(265
)
 

 
1,601

Other assets
9

 
(293
)
 
(12
)
 
255

 

 
(41
)
Payables and other liabilities
27

 
128

 

 
(4
)
 

 
151

Net cash attributable to operating activities
9

 
2,247

 

 
38

 

 
2,294

MR. COOPER GROUP INC.
CONSOLIDATING STATEMENT OF CASH FLOWS
SEVEN MONTHS ENDED JULY 31, 2018
(Continued)
 
Predecessor
 
Nationstar
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Investing Activities
 
 
 
 
 
 
 
 
 
 
 
Property and equipment additions, net of disposals

 
(35
)
 

 
(5
)
 

 
(40
)
Purchase of forward mortgage servicing rights, net of liabilities incurred

 
(127
)
 

 
(7
)
 

 
(134
)
Net payment related to acquisition of HECM related receivables

 
(1
)
 

 

 

 
(1
)
Proceeds on sale of assets

 

 

 
13

 

 
13

Net cash attributable to investing activities

 
(163
)
 

 
1

 

 
(162
)
Financing Activities
 
 
 
 
 
 
 
 
 
 
 
Decrease in warehouse facilities

 
(585
)
 

 

 

 
(585
)
Decrease in advance facilities

 
(55
)
 

 
(250
)
 

 
(305
)
Proceeds from issuance of HECM securitizations

 

 

 
759

 

 
759

Repayment of HECM securitizations

 

 

 
(448
)
 

 
(448
)
Proceeds from issuance of participating interest financing in reverse mortgage interests

 
208

 

 

 

 
208

Repayment of participating interest financing in reverse mortgage interests

 
(1,599
)
 

 

 

 
(1,599
)
Proceeds from issuance of excess spread financing

 
70

 

 

 

 
70

Repayment of excess spread financing

 
(3
)
 

 

 

 
(3
)
Settlement of excess spread financing

 
(105
)
 

 

 

 
(105
)
Repayment of nonrecourse debt - legacy assets

 

 

 
(7
)
 

 
(7
)
Repurchase of unsecured senior notes

 
(62
)
 

 

 

 
(62
)
Surrender of shares relating to stock vesting
(9
)
 

 

 

 

 
(9
)
Debt financing costs

 
(24
)
 

 

 

 
(24
)
Dividends to non-controlling interests

 
(1
)
 

 

 

 
(1
)
Net cash attributable to financing activities
(9
)
 
(2,156
)
 

 
54

 

 
(2,111
)
Net (decrease) increase in cash, cash equivalents, and restricted cash

 
(72
)
 

 
93

 

 
21

Cash, cash equivalents, and restricted cash - beginning of period

 
423

 
1

 
151

 

 
575

Cash, cash equivalents, and restricted cash - end of period
$

 
$
351

 
$
1

 
$
244

 
$

 
$
596

MR. COOPER GROUP INC.
CONSOLIDATING STATEMENT OF CASH FLOWS
NINE MONTHS ENDED SEPTEMBER 30, 2019
 
Successor
 
Mr. Cooper
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Operating Activities
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income attributable to Mr. Cooper
$
(189
)
 
$
(75
)
 
$
11

 
$
71

 
$
(7
)
 
$
(189
)
Adjustments to reconcile net (loss) income to net cash attributable to operating activities:
 
 
 
 
 
 
 
 
 
 
 
Deferred tax benefit

 
(53
)
 

 

 

 
(53
)
Net loss attributable to non-controlling interests

 
(2
)
 

 

 

 
(2
)
Loss (gain) from subsidiaries
75

 
(82
)
 

 

 
7

 

Net gain on mortgage loans held for sale

 
(777
)
 

 
(11
)
 

 
(788
)
Interest income on reverse mortgage loans

 
(208
)
 

 
(33
)
 

 
(241
)
Provision for servicing reserves

 
53

 

 

 

 
53

Fair value changes and amortization/accretion of mortgage servicing rights/liabilities

 
990

 

 
8

 

 
998

Fair value changes in excess spread financing

 
(186
)
 

 
(4
)
 

 
(190
)
Fair value changes in mortgage servicing rights financing liability

 
15

 

 

 

 
15

Fair value changes in mortgage loans held for investment

 

 

 
(3
)
 

 
(3
)
Amortization of premiums, net of discount accretion
5

 
(21
)
 

 
(22
)
 

 
(38
)
Depreciation and amortization for property and equipment and intangible assets

 
55

 

 
12

 

 
67

Share-based compensation

 
11

 

 
3

 

 
14

Other loss

 
5

 

 

 

 
5

Repurchases of forward loans assets out of Ginnie Mae securitizations

 
(1,823
)
 

 

 

 
(1,823
)
Mortgage loans originated and purchased for sale, net of fees

 
(27,685
)
 

 
12

 

 
(27,673
)
Sales proceeds and loan payment proceeds for mortgage loans held for sale and held for investment

 
27,777

 

 
139

 

 
27,916

Changes in assets and liabilities:
 
 
 
 
 
 
 
 
 
 
 
Advances and other receivables

 
266

 

 
(1
)
 

 
265

Reverse mortgage interests

 
1,515

 

 
185

 

 
1,700

Other assets

 
141

 
(12
)
 
(121
)
 

 
8

Payables and other liabilities
109

 
(164
)
 
1

 
(15
)
 

 
(69
)
Net cash attributable to operating activities

 
(248
)
 

 
220

 

 
(28
)


(1) 
Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.

MR. COOPER GROUP INC.
CONSOLIDATING STATEMENT OF CASH FLOWS
NINE MONTHS ENDED SEPTEMBER 30, 2019
(Continued)
 
Successor
 
Mr. Cooper
 
Issuer(1)
 
Guarantor
(Subsidiaries of Issuer)
 
Non-Guarantor
(Subsidiaries of Issuer)
 
Eliminations
 
Consolidated
Investing Activities
 
 
 
 
 
 
 
 
 
 
 
Acquisition, net of cash acquired

 
(85
)
 

 

 

 
(85
)
Property and equipment additions, net of disposals

 
(27
)
 

 
(11
)
 

 
(38
)
Purchase of forward mortgage servicing rights, net of liabilities incurred

 
(454
)
 

 

 

 
(454
)
Proceeds on sale of forward and reverse mortgage servicing rights

 
298

 

 

 

 
298

Net cash attributable to investing activities

 
(268
)
 

 
(11
)
 

 
(279
)
Financing Activities
 
 
 
 
 
 
 
 
 
 
 
Increase in warehouse facilities

 
1,930

 

 

 

 
1,930

Decrease in advance facilities

 
(39
)
 

 
(56
)
 

 
(95
)
Repayment of notes payable

 
(294
)
 

 

 

 
(294
)
Proceeds from issuance of HECM securitizations

 

 

 
398

 

 
398

Proceeds from sale of HECM securitizations

 

 

 
20

 

 
20

Repayment of HECM securitizations

 

 

 
(568
)
 

 
(568
)
Proceeds from issuance of participating interest financing in reverse mortgage interests

 
220

 

 

 

 
220

Repayment of participating interest financing in reverse mortgage interests

 
(1,472
)
 

 

 

 
(1,472
)
Proceeds from issuance of excess spread financing

 
469

 

 

 

 
469

Repayment of excess spread financing

 
(19
)
 

 

 

 
(19
)
Settlement of excess spread financing

 
(163
)
 

 

 

 
(163
)
Repayment of nonrecourse debt - legacy assets

 

 

 
(29
)
 

 
(29
)
Repayment of finance lease liability

 
(3
)
 

 

 

 
(3
)
Surrender of shares relating to stock vesting

 
(1
)
 

 

 

 
(1
)
Debt financing costs

 
(5
)
 

 

 

 
(5
)
Net cash attributable to financing activities

 
623

 

 
(235
)
 

 
388

Net increase (decrease) in cash, cash equivalents, and restricted cash

 
107

 

 
(26
)
 

 
81

Cash, cash equivalents, and restricted cash - beginning of period

 
379

 
1

 
181

 

 
561

Cash, cash equivalents, and restricted cash - end of period
$

 
$
486

 
$
1

 
$
155

 
$

 
$
642


(1) 
Issuer activities exclude the activities of its guarantor and non-guarantor subsidiaries, as previously described.