Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense for continuing operations were as follows:


	Year Ended December 31,
Total Income Tax Expense on continuing operations	2023		2022		2021(1)
Current Income Taxes
Federal	$	3	$	(6)	$	7
State	16		8		113
Total current income taxes	19		2		120

Deferred Income Taxes
Federal	110		245		376
State	25		44		(25)
Total deferred income taxes	135		289		351
Total income tax expense	$	154	$	291	$	471

Schedule of Effective Income Tax Rate Reconciliation

The following table presents a reconciliation of the income tax provision computed at the U.S. federal statutory tax rate to the actual effective tax rate:


	Year Ended December 31,
Reconciliation of the Income Tax Provision	2023		2022		2021
Tax Expense at Federal Statutory Rate	$	137	$	255	$	407
Effect of:
State taxes, net of federal benefit	32		39		70
Bargain purchase gain(1)	(20)		—		—
Nondeductible executive compensation	11		8		9
Share based compensation	(9)		(9)		(8)
Other, net	3		(2)		(7)
Total income tax expense	$	154	$	291	$	471

Schedule of Deferred Tax Assets and Liabilities

Temporary differences and carryforwards that give rise to deferred tax assets and liabilities are comprised of the following:


Deferred Tax Assets and Liabilities	December 31, 2023		December 31, 2022
Deferred Tax Assets
Effect of:
Goodwill and intangible assets	$	585	$	827
Loss reserves	101		84
Loss carryforwards (federal, state & capital)	85		104
Lease liability	22		28
Accruals	20		11
Depreciation and amortization, net	8		—
Other, net	12		19
Total deferred tax assets	833		1,073

Deferred Tax Liabilities
MSR amortization and mark-to-market, net	(282)		(269)
Other investment assets	(53)		(67)
Right-of-use assets	(18)		(24)
Depreciation and amortization, net	—		(2)
Prepaid assets	(1)		(1)
Total deferred tax liabilities	(354)		(363)
Valuation allowance	(7)		(7)
Deferred tax assets, net(1)	$	472	$	703

Schedule of Unrecognized Tax Benefits Roll Forward

Below is a reconciliation of the changes in the federal and state uncertain tax position balances, exclusive of interest and penalties, for the year ended December 31, 2023.


Unrecognized Tax Benefits (exclusive of interest and penalties)	December 31, 2023
Balance - beginning of year	$	—
Additions for tax positions taken in prior years	6
Balance - end of year	$	6