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Mortgage Servicing Rights and Related Liabilities - Servicing Revenue (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Transfers and Servicing [Abstract]        
Contractually specified servicing fees(1) $ 547,000,000 $ 407,000,000 $ 1,061,000,000 $ 791,000,000
Other service-related income(1) 16,000,000 19,000,000 38,000,000 33,000,000
Incentive and modification income(1) 16,000,000 8,000,000 34,000,000 14,000,000
Servicing late fees(1) 31,000,000 23,000,000 61,000,000 44,000,000
MSR MTM (155,000,000) (139,000,000) (344,000,000) (34,000,000)
Loss on MSR hedging activities (103,000,000) (111,000,000) (225,000,000) (52,000,000)
Gain on MSR and excess yield sales 23,000,000 32,000,000 11,000,000 32,000,000
Reclassifications(2) (6,000,000) (9,000,000) (12,000,000) (18,000,000)
Excess spread / MSR financing MTM 0 12,000,000 (6,000,000) 6,000,000
Total mark-to-market adjustments - Servicing (69,000,000) (63,000,000) (112,000,000) (2,000,000)
MSR amortization 226,000,000 148,000,000 405,000,000 273,000,000
Excess spread accretion (9,000,000) (11,000,000) (18,000,000) (21,000,000)
Total amortization, net of accretion 217,000,000 137,000,000 387,000,000 252,000,000
Originations service related fees(3) 19,000,000 16,000,000 35,000,000 27,000,000
Corporate/Xome service related fees 20,000,000 21,000,000 42,000,000 40,000,000
Other(4) 16,000,000 18,000,000 33,000,000 36,000,000
Total revenues - Service related, net 485,000,000 402,000,000 963,000,000 663,000,000
Cash Flows Between Transferor and Transferee, Servicing Fees $ 189,000,000 $ 176,000,000 $ 374,000,000 $ 353,000,000