Mr. Cooper (COOP) 10-Q 10 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 01, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Trading Symbol	WMIH
Entity Registrant Name	WMIH CORP.
Entity Central Index Key	933,136
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		206,714,132

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Investments held in trust:
Fixed-maturity securities	$ 3,153,000	$ 3,660,000
Cash equivalents held in trust	940,000	4,199,000	[1]
Total investments held in trust	1,189,000	5,717,000	[1]
Cash and cash equivalents	27,890,000	26,709,000	[1]
Restricted cash	576,202,000	578,936,000	[1]
Accrued investment income	61,000	59,000	[1]
Other assets	679,000	558,000	[1]
Total assets	608,925,000	614,121,000	[1]
Liabilities:
Losses and loss adjustment reserves	408,000	474,000	[1]
Unearned premiums	0	39,000	[1]
Other liabilities	16,893,000	16,303,000	[1]
Total liabilities	17,301,000	16,816,000	[1]
Commitments and contingencies			[1]
Redeemable convertible series B preferred stock, $0.00001 par value; 600,000 shares issued and outstanding as of March 31, 2018 and December 31, 2017; aggregate liquidation preference of $600,000,000 as of March 31, 2018 and December 31, 2017	503,713,000	503,713,000	[1]
Stockholders’ equity:
Common stock, $0.00001 par value; 3,500,000,000 authorized; 206,714,132 and 206,714,132 shares issued and outstanding as of March 31, 2018 and December 31, 2017, respectively	2,000	2,000	[1]
Additional paid-in capital	141,000	39,000	[1]
Retained earnings	87,768,000	93,551,000	[1]
Total stockholders’ equity	87,911,000	93,592,000	[1]
Total liabilities, redeemable convertible preferred stock and stockholders’ equity	608,925,000	614,121,000	[1]
Convertible Series A Preferred Stock [Member]
Stockholders’ equity:
Convertible preferred stock value			[1]
Fixed-Maturity Securities Held in Trust [Member]
Investments held in trust:
Fixed-maturity securities	249,000	1,518,000	[1]
Unrestricted Fixed-Maturity Securities [Member]
Investments held in trust:
Fixed-maturity securities	$ 2,904,000	$ 2,142,000	[1]
[1]	Balances derived from audited financial statements as of December 31, 2017.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Convertible preferred stock, par value	$ 0.00001
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	3,500,000,000	3,500,000,000
Common stock, shares issued	206,714,132	206,714,132
Common stock, shares outstanding	206,714,132	206,714,132
Redeemable Convertible Series B Preferred Stock [Member]
Redeemable Convertible preferred stock, par value	$ 0.00001	$ 0.00001
Redeemable Convertible preferred stock, shares issued	600,000	600,000
Redeemable Convertible preferred stock, shares outstanding	600,000	600,000
Redeemable Convertible preferred stock, liquidation value	$ 600,000,000	$ 600,000,000
Convertible Series A Preferred Stock [Member]
Convertible preferred stock, par value	$ 0.00001	$ 0.00001
Convertible preferred stock, shares issued	1,000,000	1,000,000
Convertible preferred stock, shares outstanding	1,000,000	1,000,000
Convertible preferred stock, liquidation value	$ 10	$ 10

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Premiums earned	$ 23	$ 430
Net investment income	2,170	1,180
Total revenues	2,193	1,610
Operating expenses:
Losses and loss adjustment expense	62	94
Ceding commission expense		50
General and administrative expense	7,714	2,012
Loss contract reserve reduction		(916)
Interest expense		610
Total operating expenses	7,776	1,850
Net operating loss	(5,583)	(240)
Other income:
Gain on change in fair value of derivative embedded conversion feature		(18,029)
Total other income		(18,029)
(Loss) income before income taxes	(5,583)	17,789
Net (loss) income	(5,583)	17,789
Redeemable convertible series B preferred stock dividends	(200)	(4,500)
Net (loss) income attributable to common and participating stockholders	$ (5,783)	$ 13,289
Basic net (loss) income per share attributable to common stockholders (Note 12)	$ (0.03)	$ 0.02
Shares used in computing basic net (loss) income per share	202,692,144	202,423,969
Diluted net (loss) income per share attributable to common stockholders (Note 12)	$ (0.03)	$ 0.02
Shares used in computing diluted net (loss) income per share	202,692,144	213,623,959

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Changes in Redeemable Convertible Preferred Stock and Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total		Convertible Series A Preferred Stock [Member]	Series B Redeemable Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained earnings [Member]
Beginning Balance at Dec. 31, 2016	$ 194,136				$ 2	$ 108,415	$ 85,719
Beginning Balance, Shares at Dec. 31, 2016			1,000,000		206,380,800
Preferred Stock Beginning Balance, Shares at Dec. 31, 2016				600,000
Preferred Stock Value, Beginning Balance at Dec. 31, 2016				$ 502,213
Net income (loss)	25,882						25,882
Redeemable convertible series B preferred cash dividends	(18,050)						(18,050)
Reduction of accrued fees incurred relating to Series B preferred stock issuance				$ 1,500
Reclassification of derivative asset	(108,893)					(108,893)
Issuance of common stock under restricted stock compensation arrangement, Shares					333,332
Equity-based compensation	517					517
Ending Balance at Dec. 31, 2017	93,592	[1]			$ 2	39	93,551
Ending Balance, Shares at Dec. 31, 2017			1,000,000		206,714,132
Preferred Stock Ending Balance ,Shares at Dec. 31, 2017				600,000
Preferred Stock Value, Ending Balance at Dec. 31, 2017	503,713	[1]		$ 503,713
Net income (loss)	(5,583)						(5,583)
Redeemable convertible series B preferred cash dividends	(200)						(200)
Equity-based compensation	102					102
Ending Balance at Mar. 31, 2018	87,911				$ 2	$ 141	$ 87,768
Ending Balance, Shares at Mar. 31, 2018			1,000,000		206,714,132
Preferred Stock Ending Balance ,Shares at Mar. 31, 2018				600,000
Preferred Stock Value, Ending Balance at Mar. 31, 2018	$ 503,713			$ 503,713
[1]	Balances derived from audited financial statements as of December 31, 2017.

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Cash flows from operating activities:
Net (loss) income	$ (5,583)	$ 17,789	$ 25,882
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Amortization of premium or discount on fixed maturity securities	7	31
Net realized loss on sale of investments	4	2
Unrealized loss (gain) on trading securities	2	(21)
Gain on derivative embedded conversion feature		(18,029)
Equity-based compensation	102	140
Changes in assets and liabilities:
Accrued investment income	(2)	(28)
Other assets	(121)	(74)
Cash equivalents held in trust	3,259	(1,029)
Losses and loss adjustment reserves	(66)	(188)
Losses payable		(53)
Unearned premiums	(39)	(225)
Accrued ceding commission expense		(6)
Accrued interest on notes payable		(3)
Loss contract reserve		(916)
Other liabilities	3,890	(246)
Total adjustments	7,036	(20,645)
Net cash provided by (used in) operating activities	1,453	(2,856)
Cash flows from investing activities:
Purchase of investments		(19,974)
Proceeds from sales and maturities of investments	494	47,513
Net cash provided by investing activities	494	27,539
Cash flows from financing activities:
Fees incurred and paid relating to preferred stock issuance	(2,500)
Redeemable convertible series B preferred stock dividends	(1,000)	(4,500)
Notes payable – principal repayments		(351)
Net cash used in financing activities	(3,500)	(4,851)
(Decrease) increase in cash and cash equivalents	(1,553)	19,832
Cash, cash equivalents and restricted cash, beginning of period	605,645	575,838	575,838
Cash, cash equivalents and restricted cash, end of period	$ 604,092	595,670	$ 605,645
Supplementary disclosure of cash flow information:
Cash paid during the period, Interest		$ 610

The Company and its Subsidiarie

The Company and its Subsidiaries	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
The Company and its Subsidiaries	Note 1: The Company and its Subsidiaries WMIH Corp. WMIH Corp. (“WMIH”) is a corporation duly organized and existing under the laws of the State of Delaware since May 11, 2015. WMIH is the direct parent of WM Mortgage Reinsurance Company, Inc., a Hawaii corporation (“WMMRC”), and, until its dissolution on January 18, 2018, WMI Investment Corp., a Delaware corporation (“WMIIC”). Additionally, WMIH is the direct parent of Wand Merger Corporation, a Delaware corporation (“Merger Sub”). Since emerging from bankruptcy on March 19, 2012 (the “Effective Date”), we have had limited operations other than WMMRC’s legacy reinsurance business, which is being operated in runoff mode. Since the Effective Date, our primary strategic objective has been to identify and consummate one or more acquisitions of an operating business, either through a merger, purchase, business combination or other form of acquisition. To that end, we have continued to seek, identify and evaluate acquisition opportunities of varying sizes across an array of industries for the purpose of facilitating an acquisition by WMIH of one or more operating businesses. Since 2014, in addition to management’s ongoing efforts, WMIH has worked with our strategic partner, an affiliate of KKR & CO. L.P. (together with its affiliates, “KKR”), to identify and evaluate potential acquisition opportunities. On February 12, 2018, WMIH, Merger Sub and Nationstar Mortgage Holdings Inc., a Delaware corporation that is currently listed on the New York Stock Exchange under the ticker symbol “NSM” (“Nationstar”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which, subject to the satisfaction or waiver of the conditions set forth therein, Merger Sub will merge with and into Nationstar (the “Nationstar Transaction” or the “Merger”), with Nationstar continuing as the surviving corporation and a wholly-owned subsidiary of WMIH. Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger (the “Merger Effective Time”) and as a result of the Merger, each share of Nationstar’s common stock issued and outstanding immediately prior to the Merger Effective Time (other than shares owned, directly or indirectly, by Nationstar, WMIH or Merger Sub or by any Nationstar stockholder who properly exercises and perfects appraisal of his, her or its shares under Delaware law) will be converted into the right to receive, at the election of the holder of such share, (i) $18.00 per share in cash, without interest, or (ii) 12.7793 shares of validly issued, fully paid and nonassessable shares of WMIH common stock, par value $0.00001 per share, subject in each case to pro rata If we do not consummate the Nationstar Transaction or another Acquisition or Qualified Acquisition (as such terms are defined in our Amended and Restated Certificate of Incorporation (as amended, the “Certificate of Incorporation”)) on or prior to October 5, 2019 (the “Series B Redemption Date”), as such date may be extended in accordance with the provisions of our Certificate of Incorporation, the outstanding shares of WMIH’s 5.00% Series B Convertible Preferred Stock (the “Series B Preferred Stock”) would be required to be redeemed, as more fully described in Note 9: Capital Stock and Derivative Instruments. As of March 31, 2018, WMIH was authorized to issue up to 3,500,000,000 shares of common stock, and up to 10,000,000 shares of preferred stock (in one or more series), in each case with a par value of $0.00001 per share. As of March 31, 2018 and December 31, 2017, 206,714,132 shares, respectively, of WMIH’s common stock were issued and outstanding. As of March 31, 2018 and December 31, 2017, 1,000,000 shares of WMIH’s Series A Convertible Preferred Stock (the “Series A Preferred Stock”) were issued and outstanding. As of December 31, 2017, 600,000 shares of WMIH’s 3% Series B Convertible Preferred Stock (the “Original Series B Preferred Stock”) were issued and outstanding. On December 11, 2017, we announced an amendment of the Original Series B Preferred Stock (the “Series B Amendment”), which amendment became automatically effective at 12:00 a.m., New York City time, on January 5, 2018, and effected an exchange of the previously outstanding Original Series B Preferred Stock for shares of Series B Preferred Stock. As of March 31, 2018, 600,000 shares of Series B Preferred Stock were issued and outstanding. WMMRC WMMRC is a wholly-owned subsidiary of WMIH. Prior to August 2008 (at which time WMMRC became a direct subsidiary of Washington Mutual, Inc. (“WMI”), WMMRC was a wholly-owned subsidiary of FA Out-of-State Holdings, Inc., a second-tier subsidiary of Washington Mutual Bank (“WMB”) and third-tier subsidiary of WMI. WMMRC is a pure captive insurance company domiciled in the State of Hawaii. WMMRC was incorporated on February 25, 2000, and received a Certificate of Authority, dated March 2, 2000, from the Insurance Division of the State of Hawaii. WMMRC was originally organized to reinsure private mortgage insurance risk for seven primary mortgage insurers then offering private mortgage insurance on loans originated or purchased by former subsidiaries of WMI. The seven primary mortgage insurers are United Guaranty Residential Insurance Company (“UGRIC”), Genworth Mortgage Insurance Corporation (“GMIC”), Mortgage Guaranty Insurance Corporation (“MGIC”), PMI Mortgage Insurance Company (“PMI”), Radian Guaranty Incorporated (“Radian”), Republic Mortgage Insurance Company (“RMIC”) and Triad Guaranty Insurance Company (“Triad”). Due to the then deteriorating performance in the mortgage guarantee markets and the closure and receivership of WMB, the reinsurance agreements with each of the primary mortgage insurers were terminated or placed into runoff during 2008. The agreements with UGRIC and Triad were placed into runoff effective May 31, 2008. The agreements with all other primary mortgage insurers were placed into runoff effective September 26, 2008. As a result, effective September 26, 2008, WMMRC’s continuing operations consisted solely of the runoff of coverage associated with mortgages placed with the primary mortgage carriers prior to September 26, 2008. In runoff, an insurer generally writes no new business but continues to service its obligations under in force policies and otherwise continues as a licensed insurer. The reinsurance agreements with Triad, PMI, UGRIC and Radian were commuted on August 31, 2009, October 2, 2012, April 3, 2014 and October 23, 2017, respectively, and the related trust assets were distributed in accordance with the commutation agreements. In addition, the RMIC reinsurance agreement was terminated on February 2, 2018, and the remaining trust assets were distributed to WMMRC per the terms of the agreement. On February 13, 2018, the aggregate excess of loss reinsurance agreement between WMMRC and GMIC was terminated in accordance with the terms of the agreement. The underlying trust and the related quota share agreement remain in place. As a result, WMMRC’s current continuing operations consist solely of the runoff of coverage associated with mortgages placed with the following two remaining carriers, GMIC and MGIC. WMIIC WMIIC was dissolved on January 18, 2018. As of December 31, 2017 and the date of its dissolution, WMIIC did not have any operations and was fully eliminated upon consolidation. Merger Sub On February 6, 2018, Merger Sub was formed as a wholly-owned subsidiary of WMIH.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	Note 2: Significant Accounting Policies Basis of Presentation WMIH resumed timely filing of all periodic reports for a reporting company under the Exchange Act for all periods after emergence from bankruptcy on the Effective Date. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for quarterly reporting. Certain information and footnote disclosures normally included in the financial statements and prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations; however, the Company believes that the disclosures included are appropriate. The condensed consolidated balance sheet as of December 31, 2017, included herein, was derived from the audited consolidated financial statements as of that date. These interim unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto filed in the Company’s Annual Report on Form 10-K, filed with the SEC on March 2, 2018. Interim information presented in the unaudited condensed consolidated financial statements has been prepared by management. In the opinion of management, the financial statements include all adjustments necessary for a fair presentation and that all such adjustments are of a normal, recurring nature and necessary for the fair statement of the financial position, results of operations and cash flows for the periods presented in accordance with GAAP. The results of operations for the three months ended March 31, 2018 are not necessarily indicative of the results to be expected for the full year ending December 31, 2018. All significant intercompany transactions and balances have been eliminated in preparing the condensed consolidated financial statements. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Management has made significant estimates in certain areas, including valuing certain financial instruments, other assets and liabilities, the determination of the contingent risk liabilities, and in determining appropriate insurance reserves. Actual results could differ substantially from those estimates. Fair Value of Certain Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Generally, for assets that are reported at fair value, the Company uses quoted market prices or valuation models to estimate their fair value. These models incorporate inputs such as forward yield curves, market volatilities and pricing spreads, utilizing market-based inputs where readily available. The degree of management judgment involved in estimating the fair value of a financial instrument or other asset is dependent upon the availability of quoted market prices or observable market inputs. For financial instruments that are actively traded in the marketplace or whose values are based on readily available market value data, little judgment is necessary when estimating the instrument’s fair value. When observable market prices and data are not readily available, significant management judgment often is necessary to estimate fair value. In those cases, different assumptions could result in significant changes in valuation. The Company classifies fixed-maturity investments as trading securities, which are recorded at fair value. As such, changes in unrealized gains and losses on investments held at the balance sheet date are recognized and reported as a component of net investment income on the condensed consolidated statement of operations. The Company believes fair value provides better matching of investment earnings to potential cash flow generated from the investment portfolio and reduces subjectivity related to evaluating other-than-temporary impairment on the Company’s investment portfolio. The carrying value of cash and cash equivalents, restricted cash, accounts payable and accrued liabilities approximate their respective fair values because of their short-term nature. The carrying value of the loss contract reserve, in periods during which such reserve exists, approximates its fair value and is based on valuation methodologies using discounted cash flows at interest rates which approximate the Company’s weighted-average cost of capital. The carrying value of the d erivative embedded conversion feature adjusted to its fair value as determined using Level 3 inputs described below under fair value measurement. The carrying value of notes payable, in periods during which such notes payable exist, approximates fair value based on time to maturity, underlying collateral, and prevailing interest rates. Fair Value Measurement The Company’s estimates of fair value for financial assets and financial liabilities are based on the framework established in the Financial Accounting Standards Board (“FASB”) Fair Value Measurements and Disclosures accounting guidance. The framework is based on the inputs used in valuation and requires that observable inputs be used in the valuations when available. The disclosure of fair value estimates in the fair value accounting guidance hierarchy is based on whether the significant inputs into the valuation are observable. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs that reflect the Company’s significant market assumptions. The three levels of the hierarchy are as follows: Level 1–Inputs to the valuation methodology are quoted prices for identical assets or liabilities traded in active markets. Level 2–Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and market corroborated inputs. Level 3–Valuations based on models where significant inputs are not observable. The unobservable inputs reflect the Company’s own assumptions about the inputs that market participants would use. Fair values are based on quoted prices in active markets when available (Level 1). The Company receives the quoted prices from a third party, nationally recognized pricing service. When quoted prices are not available, the Company utilizes a pricing service to determine an estimate of fair value. The fair value is generally estimated using current market inputs for similar financial instruments with comparable terms and credit quality, commonly referred to as matrix pricing (Level 2). These valuation techniques involve some level of management estimation and judgment. The Company recognizes transfers between levels in the fair value hierarchy at the end of the reporting period. Fixed-Maturity Securities Fixed-maturity securities consist of U.S. Treasury securities, obligations of U.S. government sponsored agencies and domestic and foreign corporate debt securities. Fixed-maturity securities held in trust are for the benefit of the primary insurers as more fully described in Note 3: Insurance Activity. Investments in fixed-maturity securities are reported at their estimated fair values and are classified as trading securities in accordance with applicable accounting guidance. Realized gains and losses on the sale of fixed-maturity securities are determined using the specific identification method and are reported as a component of net investment income within the condensed consolidated statement of operations. Investments Held in Trust Investments held in trust consist of cash equivalents, which include highly liquid overnight money market instruments, and fixed-maturity securities which are held in trust for the benefit of the primary insurers, as more fully described in Note 3: Insurance Activity and Note 4: Investment Securities, and are subject to the restrictions on distribution of net assets of subsidiaries as described below. Third Party Restrictions on Distribution of Net Assets of Wholly-Owned Subsidiaries The net assets of WMMRC are subject to restrictions on distribution from multiple sources, including the primary insurers who have approval control of distributions from the trust, and the Insurance Division of the State of Hawaii who has approval authority over distributions or intercompany advances. Premium Recognition Premiums assumed are earned on a daily pro-rata basis over the underlying policy terms. Premiums assumed relating to the unexpired portion of policies in force at the balance sheet date are recorded as unearned premiums. Unearned premiums also include a reserve for post default premium reserves. Post default premium reserves occur when a loan is in a default position and the servicer continues to advance the premiums. If the loan ultimately goes to claim, the premiums advanced during the period of default are subject to recapture. The Company records a default premium reserve based on information provided by the underlying mortgage insurers when they provide information on the default premium reserve separately from other reserves. The change in the post default premium reserve is reflected as a reduction or increase, as the case may be, in premiums assumed. The Company has recorded unearned premiums totaling zero and $39 thousand as of March 31, 2018 and December 31, 2017, respectively. The Company recognizes premium deficiencies when there is a probable loss on an insurance contract. Premium deficiencies are recognized if the sum of the present value of expected losses and loss adjustment expenses, unamortized deferred acquisition costs, and maintenance costs, excluding intercompany charges, exceed expected future unearned premiums and anticipated investment income. Premium deficiency reserves have been recorded totaling $0.4 million and $0.3 million as of March 31, 2018 and December 31, 2017, respectively. Intercompany administrative costs are excluded from the computation of premium deficiencies. The Company’s premium deficiency analysis was performed on a single book basis and includes all book years and reinsurance treaties aggregated together using assumptions based on the actuarial best estimates at the balance sheet date. The calculation for premium deficiency requires significant judgment and includes estimates of future expected premiums, claims, loss adjustment expenses and investment income as of the balance sheet date. To the extent ultimate losses are higher or premiums are lower than estimated, additional premium deficiency reserves may be required in the future. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, amounts due from banks, U.S. Treasury bills and overnight investments. Except as described above in Investments Held in Trust, the Company considers all amounts that are invested in highly liquid overnight money market instruments to be cash equivalents. The Federal Deposit Insurance Corporation (“FDIC”) insures amounts on deposit with each financial institution up to limits as prescribed by law. The Company may hold funds with financial institutions in excess of the FDIC insured amount, however, the Company has not experienced any losses in such accounts and management believes it is not exposed to any significant credit risk on cash and cash equivalents. Restricted Cash Restricted cash includes proceeds of the Original Series B Preferred Stock offering held in escrow and included, through the termination of the Indentures (as defined in Note 7: Notes Payable) on October 2, 2017, amounts held for the express purposes of paying principal, interest and related fees on the Runoff Notes (as defined in Note 7: Notes Payable) pursuant to the terms of the Indentures. Ceding Commission Expense The Company is required to pay a ceding commission to certain primary insurers pursuant to certain reinsurance agreements. Losses and Loss Adjustment Reserves The losses and loss adjustment reserves include case basis estimates of reported losses and supplemental amounts for incurred but not reported (“IBNR”) losses. A default is considered the incident (e.g., the failure to make timely payment of mortgage payments) that may give rise to a claim for mortgage insurance. In establishing the losses and loss adjustment reserve, the Company based its estimates primarily on the ceded loss and loss adjustment reserves as provided by the primary mortgage guaranty carriers. WMMRC has recorded reserves at the ceded case reserves and IBNR loss levels established and reported by the primary mortgage guaranty carriers as of March 31, 2018 and December 31, 2017, respectively. Management believes that the recorded aggregate liability for unpaid losses and loss adjustment expenses at period end represents the Company’s best estimate, based upon the available data, of the amount necessary to cover the current cost of losses. However, due to the inherent uncertainty arising from fluctuations in the persistency rate of mortgage insurance claims, the Company’s size and lack of prior operating history, external factors such as future changes in regional or national economic conditions, judicial decisions, federal and state legislation related to mortgage restructuring and foreclosure restrictions, claims denials and coverage rescissions by primary carriers and other factors beyond the Company’s control, it is not presently possible to determine whether actual loss experience will conform to the assumptions used in determining the estimated amounts for such liability at the balance sheet date. Accordingly, the ultimate liability could be significantly higher or lower, as the case may be, than the amount indicated in the financial statements and there can be no assurance that the reserve amounts recorded will be sufficient. As adjustments to these estimates become necessary, such adjustments are reflected in current operations Loss Contract Reserve A loss contract reserve relating to contractual obligations of WMMRC was established at March 19, 2012 as a result of applying fresh start accounting and in compliance with Accounting Standards Codification (“ASC”) 805-10-55-21- Broad Transactions, which defines a loss contract as “a contract in which the unavoidable costs of meeting the obligation under the contract exceed the economic benefits expected to be received under it.” The value of this reserve is analyzed quarterly and is adjusted accordingly. The adjustment (if any) to the reserve produces an expense or contra-expense in the condensed consolidated statements of operations. Derivatives We evaluate our convertible debt, options, warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted. This accounting treatment requires that the carrying amount of embedded derivatives be marked-to-market at each balance sheet date and carried at fair value. In the event that the fair value is recorded as a liability, the change in fair value during the period is recorded in the Statement of Operations as either income or expense. If an embedded derivative is no longer required to be separately accounted for due to conversion, exercise or modification to the terms of an instrument, the derivative is marked to fair value at the conversion, exercise or modification date and then the related fair value is reclassified to equity. In circumstances where the embedded conversion option in a convertible instrument is required to be bifurcated and there are also other embedded derivative instruments in the convertible instrument that are required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. The classification of financial instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. Equity instruments that are initially classified as equity that become subject to reclassification are reclassified to liability at the fair value of the instrument on the reclassification date. Management must determine whether an instrument (or an embedded feature) is indexed to our stock. An entity should use a two-step approach to evaluate whether an equity-linked financial instrument (or embedded feature) is indexed to its own stock, including evaluating the instrument’s contingent exercise and settlement provisions. The application of this exercise could affect the accounting for (i) certain freestanding warrants that contain exercise price adjustment features or contain contingently puttable cash settlement options, if any, and (ii) convertible notes containing anti-dilution protections and/or exercise price adjustment features. The Company had recorded a derivative embedded conversion feature as a result of the issuance of the Original Series B Preferred Stock which was adjusted to its fair value as determined using Level 3 inputs described above under Fair Value Measurement. The change in fair value of the derivative embedded conversion feature was calculated at each reporting date and recorded as other income or other expense on the statement of operations. As a result of the Series B Amendment, the embedded conversion feature was modified, and the derivative was marked to fair value at December 31, 2017 and then the related fair value was reclassified to equity in accordance with ASC 815-15-35-4 - Embedded Conversion Option that No Longer Meets Bifurcation Criteria, as more fully described in Note 9: Capital Stock and Derivative Instruments. Other Liabilities At March 31, 2018, the total balance of $16.9 million of other liabilities is comprised of $8.3 million of accrued fees relating to the Original Series B Preferred Stock offering and an accrual for professional fees and recurring business expenses currently payable of approximately $8.6 million. At December 31, 2017, the total balance of $16.3 million of other liabilities is comprised of $8.3 million of accrued fees relating to the Original Series B Preferred Stock offering, $2.5 million related to an extension of the escrow agreement related to the Series B Preferred Stock, an accrual for professional fees and recurring business expenses of approximately $4.7 million and $0.8 million of accrued cash dividends relating to the Original Series B Preferred Stock. The accrued fees would be paid in the event of a Qualified Acquisition, as more fully described in Note 6: Service Agreements and Related Party Transactions. Comprehensive Income The Company has no comprehensive income other than the net income disclosed in the condensed consolidated statement of operations. Net Income Per Common Share In calculating earnings per share, the Company follows the two-class method, which distinguishes between the classes of securities based on the proportionate participation rights of each security type in the Company's undistributed income. The Series A Preferred Stock and the Series B Preferred Stock are treated as one class for purposes of applying the two-class method, because they have substantially equal rights and share equally on an as converted basis with respect to income available to WMIH common stockholders. Basic net income per WMIH common share is computed by dividing net income attributable to WMIH’s common stockholders by the weighted-average number of common shares outstanding for the period after subtracting the weighted-average of any unvested restricted shares outstanding, as these are subject to repurchase. Basic net income attributable to common stockholders is computed by deducting preferred dividends and the basic calculation of undistributed earnings attributable to participating securities from net income. Diluted net income per WMIH common share is computed by dividing net income attributable to WMIH’s common stockholders by the weighted-average number of common shares outstanding during the period after subtracting the weighted-average of any unvested restricted shares outstanding, as these are subject to repurchase, and adding any potentially dilutive WMIH common stock equivalents outstanding during the period. Diluted net income attributable to common stockholders is computed by deducting preferred dividends and the diluted calculation of undistributed earnings attributable to participating securities from net income. If common stock equivalents exist, in periods where there is a net loss, diluted net loss per common share would be equal to or less than basic net loss per common share, since the effect of including any common stock equivalents would be antidilutive. Equity-Based Compensation On May 22, 2012, WMIH’s Board of Directors (the “Board” or “Board of Directors”) approved the Company’s 2012 Long-Term Incentive Plan (the “2012 Plan”) so that awards of restricted stock could be made to its non-employee directors and to have a plan in place for awards of equity based compensation to executives and others in connection with the Company’s operations and future strategic plans. A total of 2.0 million shares of WMIH’s common stock were initially reserved for future issuance under the 2012 Plan, which became effective upon the Board approval on May 22, 2012. On February 10, 2014, the Board approved and adopted a First Amendment to the 2012 Plan, pursuant to which the number of shares of WMIH’s common stock reserved and available for grants under the 2012 Plan was increased from 2.0 million shares to 3.0 million shares, and the terms of the 2012 Plan were modified to permit such an increase through action of the Board, except when stockholder approval is necessary to comply with any applicable law, regulation or rule of any stock exchange on which WMIH’s shares are listed, quoted or traded. On February 25, 2015, the number of shares authorized and available for awards under the 2012 Plan was increased from 3.0 million to 12.0 million shares of WMIH’s common stock, subject to approval of stockholders of WMIH. This approval was received at WMIH’s Annual Meeting of Stockholders on April 28, 2015. The 2012 Plan provides for the granting of restricted shares and other cash and share based awards. The value of restricted stock is generally determined using the fair market value determined to be the trading price at the close of business on the respective date the awards were granted. Income Taxes The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future income tax consequences attributable to differences between the carrying amounts and tax bases of assets and liabilities and losses carried forward and tax credits. Deferred tax assets and liabilities are measured using enacted tax rates and laws applicable to the years in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided to the extent that it is more likely than not that deferred tax assets will not be realized. The Company recognizes the financial statement effects of a tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Penalties and interest, of which there are none, would be reflected in income tax expense. Tax years are open to the extent the Company has net operating loss (“NOL”) carry-forwards available to be utilized currently. On December 22, 2017, the Tax Cuts and Jobs Act, which reforms U.S. Tax legislation and related laws, was signed into law. One of the provisions of the new tax law reduces the Company’s U.S. federal corporate income tax rate from 35% to 21%. Our deferred tax assets, although fully reserved, have been revalued at the lower rate beginning in 2017. The Company continues to evaluate the impact of the new tax law on its financial condition and results of operations. Dividend Policy WMIH has paid no dividends on its common stock on or after the Effective Date and currently has no plans to pay a dividend on its common stock. WMIH has paid $1.0 million and $18.0 million of cash dividends on its Series B Preferred Stock for the three months ended March 31, 2018 and the year ended December 31, 2017, respectively. Additionally, WMIH has accrued unpaid and undeclared cash dividends of zero and $0.8 million, as of March 31, 2018 and December 31, 2017, respectively. New Accounting Pronouncements The Company has reviewed new accounting pronouncements issued between March 2, 2018, the filing date of our most recent Form 10-K, and the filing date of this Form 10-Q, and has determined that no pronouncements issued are relevant to the Company, and/or have a material impact on the Company’s consolidated financial position, results of operations or disclosure requirements.

Insurance Activity

Insurance Activity	3 Months Ended
	Mar. 31, 2018
Insurance [Abstract]
Insurance Activity	Note 3: Insurance Activity The Company, through WMMRC, reinsures mortgage guaranty risks of mortgage loans originated by affiliates of the Company during the period from 1997 through 2008. WMMRC is (or was) a party to reinsurance agreements with UGRIC, GMIC, MGIC, PMI, Radian, RMIC and Triad. The agreements with UGRIC and Triad were placed into runoff effective May 31, 2008. The agreements with all other primary mortgage insurers were placed into runoff effective September 26, 2008. The reinsurance agreements with Triad, PMI, UGRIC and Radian were commuted on August 31, 2009, October 2, 2012, April 3, 2014, and October 23, 2017, respectively. The RMIC agreement was terminated on February 2, 2018. All agreements between WMMRC and the primary mortgage insurers are on an excess of loss basis, except for a reinsurance treaty with GMIC during 2008, which is reinsured on a 50% quota share basis. Pursuant to the excess of loss reinsurance treaties, WMMRC reinsures a second loss layer which ranges from 5% to 10% of the risk in force in excess of the primary mortgage insurer’s first loss percentage which range from 4% to 5%. Each calendar year, or book year, is treated separately from other years when calculating losses. In return for accepting a portion of the risk, WMMRC receives, net of ceding commission, a percentage of the premium that ranges from 25% to 40%. As security for the ceding insurers, WMMRC has entered into separate trust agreements with each of the primary mortgage insurance companies whereby a portion of the funds from premiums assumed are held in trust accounts for the benefit of each separate insurer. Pursuant to the terms of the reinsurance agreements, WMMRC is required to keep such assets in trust for a minimum of five years and is subject to claims for up to ten years from termination of obligations arising from the last year in which insurance business was written prior to runoff. Release of funds from the trust by WMMRC requires approval from the primary mortgage insurance companies. Premiums assumed and earned are as follows for the periods ended March 31, 2018 and 2017, respectively: Three months ended March 31, 2018 Three months ended March 31, 2017 Premiums (released) assumed $ (16 ) $ 205 Change in unearned premiums 39 225 Premiums earned $ 23 $ 430 The components of the liability for losses and loss adjustment reserves are as follows as of March 31, 2018 and December 31, 2017, respectively: March 31, 2018 December 31, 2017 Case-basis reserves $ 12 $ 151 IBNR reserves 1 1 Premium deficiency reserves 395 322 Total losses and loss adjustment reserves $ 408 $ 474 Losses and loss adjustment reserve activity are as follows for the three months ended March 31, 2018 and the year ended December 31, 2017, respectively: Three months ended March 31, 2018 Year ended December 31, 2017 Balance at beginning of period $ 474 $ 811 Incurred - prior periods 62 19 Paid or terminated - prior periods (128 ) (356 ) Total losses and loss adjustment reserves $ 408 $ 474 The loss contract reserve balance is analyzed and adjusted quarterly. The balance in the reserve was zero as of both March 31, 2018 and December 31, 2017. The value of this reserve was decreased to zero during the year ended December 31, 2017 and is anticipated to remain at zero. The reserve remained unchanged during the three months ended March 31, 2018 and decreased by $0.9 million during the three months ended March 31, 2017. In periods during which a reduction in the loss contract reserve occurs, a corresponding decrease in expense is reflected in the condensed consolidated statement of operations for the respective period.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2018
Investments Debt And Equity Securities [Abstract]
Investment Securities	Note 4: Investment Securities The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of total fixed-maturity securities and total fixed-maturity securities held in trust at March 31, 2018, are as follows: March 31, 2018 Class of securities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Obligations of U.S. government sponsored enterprises $ 2,250 $ — $ (8 ) $ 2,242 Corporate debt securities 917 — (6 ) 911 Total fixed-maturity securities 3,167 — (14 ) 3,153 Less total unrestricted fixed-maturity securities 2,917 — (13 ) 2,904 Total fixed-maturity securities held in trust $ 250 $ — $ (1 ) $ 249 The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of total fixed-maturity securities and total fixed-maturity securities held in trust at December 31, 2017, are as follows: December 31, 2017 Class of securities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Obligations of U.S. government sponsored enterprises $ 2,249 $ — $ (10 ) $ 2,239 Corporate debt securities 1,425 — (4 ) 1,421 Total fixed-maturity securities 3,674 — (14 ) 3,660 Less total unrestricted fixed-maturity securities 2,151 — (9 ) 2,142 Total fixed-maturity securities held in trust $ 1,523 $ — $ (5 ) $ 1,518 Amortized cost and estimated fair value of fixed-maturity securities at March 31, 2018 by contractual maturity are as follows: Amortized Cost Estimated Fair Value Maturity in: 2018 $ 3,167 $ 3,153 Total fixed-maturity securities $ 3,167 $ 3,153 Actual maturities may differ from contractual maturities because certain borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Net investment income for the three months ended March 31, 2018 and 2017, respectively, is summarized as follows: Three months ended March 31, 2018 Three months ended March 31, 2017 Investment income: Amortization of premium or discount on fixed-maturity securities $ (7 ) $ (31 ) Investment income on fixed-maturity securities 17 178 Interest income on cash and cash equivalents 2,271 1,014 Realized net (loss) from sale of investments (4 ) (2 ) Unrealized (loss) on cash equivalents held at period end (105 ) — Unrealized (loss) gain on trading securities held at period end (2 ) 21 Net investment income $ 2,170 $ 1,180 The following table shows how the Company’s investments are categorized in accordance with fair value measurement, as of March 31, 2018: March 31, 2018 Level 1 Level 2 Level 3 Total Class of securities: Obligations of U.S. government sponsored enterprises 997 1,245 — 2,242 Corporate debt securities 911 — — 911 Total fixed-maturity securities 1,908 1,245 — 3,153 Money market funds 28,684 — — 28,684 Total $ 30,592 $ 1,245 $ — $ 31,837 The following table shows how the Company’s investments are categorized in accordance with fair value measurement, as of December 31, 2017: December 31, 2017 Level 1 Level 2 Level 3 Total Class of securities: Obligations of U.S. government sponsored enterprises 995 1,244 — 2,239 Corporate debt securities 1,421 — — 1,421 Total fixed-maturity securities 2,416 1,244 — 3,660 Money market funds 30,780 — — 30,780 Total $ 33,196 $ 1,244 $ — $ 34,440 A review of the fair value hierarchy classifications of the Company’s investments is conducted quarterly. Changes in the observability of valuation inputs may result in a reclassification for certain financial assets or liabilities. Reclassifications are reported as transfers in or transfers out of the applicable Level at the end of the calendar quarter in which the reclassifications occur. During the three months ended March 31, 2018 and the year ended December 31, 2017, zero and $2.4 million, respectively, of investments were transferred from Level 2 to Level 1 as a result of improving market conditions for short-term and investment grade corporate securities. January 1, 2018 to March 31, 2018 January 1, 2017 to December 31, 2017 Transfers Transfers Transfers Transfers Class of securities: Obligations of US government sponsored enterprises $ — $ — $ — $ 995 Corporate debt securities — — — 1,421 Total transfers $ — $ — $ — $ 2,416

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Note 5: Income Taxes For the three months ended March 31, 2018, the Company recorded a net loss attributable to common and participating stockholders of approximately $5.8 million. The Company projects tax losses for the year ending December 31, 2018, assuming that circumstances remain unchanged and not taking into account the Nationstar Transaction or any other acquisitions. Due to this projected tax loss and the existence of NOL carry-forwards which have a 100% valuation allowance recorded to reduce them to zero, the Company has not recorded an income tax expense or benefit for the three months ended March 31, 2018. The Company recorded no income tax expense or benefit for the year ended December 31, 2017 due to tax losses in that period. The Company files a consolidated federal income tax return. Pursuant to a tax sharing agreement, WMMRC’s federal income tax liability is calculated on a separate return basis determined by applying 35% prior to the 2017 tax reform and 21% for 2018 and future years to taxable income, in accordance with the provisions of the Internal Revenue Code of 1986, as amended (the “Code”), that apply to property and casualty insurance companies. WMIH, as WMMRC’s parent, pays federal income taxes on behalf of WMMRC and settles the federal income tax obligation on a current basis in accordance with the tax sharing agreement. WMMRC made no tax payments to WMIH during the three months ended March 31, 2018 or the year ended December 31, 2017 associated with the Company’s tax liability from the preceding year. On December 22, 2017, the Tax Cuts and Jobs Act, which reforms U.S. Tax legislation and related laws, was signed into law. One of the provisions of the new tax law reduces the Company’s U.S. federal corporate income tax rate from 35% to 21% resulting in a reduction of the deferred tax asset relating to the NOL carry-forward of $842.9 million and a corresponding change in the related valuation allowance. Our deferred tax assets, although fully reserved, have been revalued at the lower rate as of March 31, 2018 and December 31, 2017. The Company continues to evaluate the impact of the new tax law on its financial condition and results of operations. Deferred federal income taxes arise from temporary differences between the valuation of assets and liabilities as determined for financial reporting purposes and income tax purposes. Temporary differences principally relate to discounting of loss reserves, accruals, net operating losses and unrealized gains and losses on investments. As of March 31, 2018 and December 31, 2017, the Company recorded a valuation allowance equal to 100% of the net deferred federal income tax asset due to uncertainty regarding the Company’s ability to realize these benefits in the future. On March 19, 2012, WMIH emerged from bankruptcy. Prior to emergence, WMI abandoned the stock of WMB, thereby generating a worthless stock deduction of approximately $8.4 billion which gave rise to an NOL for the year ended December 31, 2012. Under Section 382 of the Code (“Section 382”), and based on the Company’s analysis, we believe that the Company experienced an “ownership change” (generally defined as a greater than 50% change (by value) in our equity ownership over a three-year period) on March 19, 2012, and our ability to use our pre-change of control NOLs and other pre-change tax attributes against our post-change income was limited. The Section 382 limitation is applied annually so as to limit the use of our pre-change NOLs to an amount that generally equals the value of our stock immediately before the ownership change multiplied by a designated federal long-term tax-exempt rate. Due to applicable limitations under Section 382 and a reduction of tax attributes due to cancellation of indebtedness, a portion of these NOLs were limited and will expire unused. We believe that the total available and utilizable NOL carry-forward at December 31, 2017 was approximately $6.0 billion. At March 31, 2018, there was no limitation on the use of these NOLs. These NOLs will begin to expire in 2031. The Company’s ability to utilize the NOLs or realize any benefits related to the NOLs is subject to a number of risks. (See Part I-Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2017). As of March 31, 2018 and December 31, 2017, WMIH had a capital loss carryforward of $1.6 million, most of which is subject to expiration in 2018. The Company accounts for uncertain tax positions in accordance with the income tax accounting guidance. The Company has analyzed filing positions in the federal and state jurisdictions where it is required to file tax returns, as well as the open tax years in these jurisdictions. Tax years 2011 to present are subject to examination by the Internal Revenue Service. The Company believes that its federal income tax filing positions and deductions will be sustained on audit and does not anticipate any adjustments that will result in a material change to its financial position. Therefore, no reserves for uncertain federal income tax positions have been recorded. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of the provision for federal income taxes. The Company did not incur any federal income tax related interest income, interest expense or penalties for the three months ended March 31, 2018 or for the year ended December 31, 2017.

Service Agreements and Related

Service Agreements and Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Service Agreements and Related Party Transactions	Note 6: Service Agreements and Related Party Transactions WMMRC has engaged a Hawaii-based service provider, Marsh Management Services, Inc., to provide accounting and related management services for its operations. In exchange for performing these services, WMMRC pays such service provider a management fee. WMIH entered into an Investment Management Agreement and an Administrative Services Agreement with WMMRC on March 19, 2012. Each of these agreements was approved by WMMRC’s primary regulator, the Insurance Division of the State of Hawaii. Total amounts incurred under these agreements totaled $0.3 million and $0.3 million for the three months ended March 31, 2018 and 2017, respectively. The expense and related income eliminate on consolidation. Under the terms of the Investment Management Agreement, WMIH receives from WMMRC a fee equal to the product of (x) the ending dollar amount of assets under management during the calendar month in question and (y) .002 divided by 12. WMIH is responsible for investing the funds of WMMRC based on applicable investment criteria and subject to rules and regulations to which WMMRC is subject. Under the terms of the Administrative Services Agreement, WMIH receives from WMMRC a fee of $110 thousand per month. WMIH is responsible for providing administrative services to support, among other things, supervision, governance, financial administration and reporting, risk management and claims management as may be necessary, together with such other general or specific administrative services that may be reasonably required or requested by WMMRC in the ordinary course of its business. On March 22, 2012, WMIH and the WMI Liquidating Trust (the “Trust”) entered into a Transition Services Agreement (the “TSA”). Pursuant to the TSA, the Trust makes available certain services and employees including the services of our Chief Legal Officer and Secretary and our Controller. The TSA provides the Company with basic infrastructure and support services to facilitate the Company’s operations. The TSA, as amended, extends the term of the agreement through September 30, 2018, with automatic renewals thereafter for successive additional three-month terms, subject to non-renewal at the end of any additional term upon written notice by either party at least 30 days prior to the expiration of the additional term. On or about October 14, 2014, the Trust filed a lawsuit in King County Superior Court in the State of Washington against 16 former directors and officers of WMI (the “D&O Litigation”). The Trust’s complaint alleged, among other things, that the defendants named therein breached their fiduciary duties to WMI and committed corporate waste and fraud by squandering WMI’s financial resources. In connection with the settlement of the D&O Litigation, during the year ended December 31, 2015, among the Trust, certain former directors and officers of WMI and certain insurance carriers that underwrote director and officer liability insurance policies for the benefit of WMI and its affiliates (including such former directors and officers), such insurance carriers agreed to pay the Trust $37.0 million, of which $3.0 million was placed into a segregated reserve account (the “RSA Reserve”) to be administered by a third party pursuant to the terms of a Reserve Settlement Agreement (the “RSA”). Based on elections of certain holders of claims in connection with our bankruptcy prior to the Effective Date, WMIH retained an economic interest in certain litigation proceeds, if any, recovered by the Trust, including those related to the D&O Litigation. During the years ended December 31, 2017, 2016 and 2015, WMIH had other income of $123 thousand, $123 thousand and $7.8 million, respectively, as a result of its receipt of its share of net litigation proceeds related to the D&O Litigation. As of March 31, 2018, $1.5 million remained in the RSA Reserve. Under the RSA, funds are released from the RSA Reserve to the Trust if and when certain designated conditions are satisfied. If and when these funds are released to the Trust, and to the extent WMIH is entitled to receive such funds, it is anticipated the Trust will make payments to WMIH in an amount equal to WMIH’s share of the litigation proceeds. Due to the contingent nature of future distributions from the RSA Reserve, there can be no assurance that WMIH will receive any distributions from the remaining balance in the RSA Reserve in the future. During the three months ended March 31, 2018, WMIH has recorded no income from litigation proceeds. As of March 31, 2018, WMIH has not received any litigation proceeds from the Trust, other than as described above. In preparation for the offering of the Original Series B Preferred Stock, WMIH engaged KKR Capital Markets LLC (“KCM”), an affiliate of KKR & Co. L.P., to act as a joint book-running manager for the Original Series B Preferred Stock offering. KCM also acted as an initial purchaser of the Original Series B Preferred Stock. During the year ended December 31, 2015, as a result of satisfying a post-closing covenant to reincorporate in the State of Delaware within 180 days following the closing of the Series B Preferred Stock offering, we paid $8.25 million to KCM. Upon consummation of a “Qualified Acquisition” (as such term is defined in Article VI of WMIH’s Certificate of Incorporation), we will pay KCM an additional fee (the “KCM Deferred Fee”) of $8.25 million. We have recorded the KCM Deferred Fee in “other liabilities” on our condensed consolidated balance sheet and this amount was included in “accrued fees relating to Series B Preferred Stock issuance” on our condensed consolidated statements of cash flows. The Nationstar Transaction will constitute a “Qualified Acquisition” pursuant to the terms of the WMIH Certificate of Incorporation. In connection with entering into the Merger Agreement, on February 12, 2018, WMIH entered into (i) a letter agreement with KCM, pursuant to which KCM agreed to act as a non-exclusive financial advisor to WMIH with respect to the Merger and is entitled to receive a transaction fee equal to $25 million and (ii) a fee letter with KCM, pursuant to which KCM will (a) act as a placement agent with respect to a bridge financing facility of up to $2.75 billion to be entered into by WMIH in connection with the Merger, (b) provide capital markets advice and other assistance as agreed to with WMIH and (c) receive a fee equal to 0.25% of the aggregate amount of the commitments in respect of such bridge financing facility (other than in respect of any of such amounts committed by certain affiliates of KCM), payable upon the initial funding under the bridge financing facility. Based on the current size of the committed facility, the fees payable to KCM as placement agent for arranging the bridge facility are expected to be approximately $6.875 million. On February 12, 2018, pursuant to an Amendment to Letter Agreement, dated February 12, 2018 (the “Amendment to Letter Agreement”), by and among WMIH, KKR Fund Holdings L.P. (“KKR Fund”), KKR Wand Investors L.P. (“KKR Wand”), KKR Wand Holdings Corporation (“KKR Wand Holdings”) and KKR Wand Investors Corporation (“KKR Wand Investors”), which amended that certain Letter Agreement, dated December 8, 2017 (the “KKR Letter Agreement”), by and among WMIH, KKR Fund and KKR Wand Concurrently with the execution of the Merger Agreement, FIF HE Holdings LLC (“Fortress”) entered into a letter agreement with WMIH and the KKR entities, pursuant to which, among other things, WMIH agreed to waive and consent to certain acquisitions and dispositions of WMIH common stock under the Certificate of Incorporation of WMIH. In addition, pursuant to the terms of the Fortress letter agreement, neither the KKR Entities nor any of its affiliates will, without the prior written consent of Fortress, exercise any registration rights under the investor rights agreement and the Series B registration rights agreement, or under any other agreement until six months after the later of (A) the closing of the Merger and (B) the date on which a shelf registration statement is declared effective pursuant to the Fortress registration rights agreement. On February 12, 2018, Directors Gallagher, Glossman, Renoff, Scheiwe and Willingham, and Mr. Fairfield, WMIH’s President and Chief Operating Officer, each entered into a voting and support agreement with Nationstar (each of which we refer to as a “D&O voting agreement”) in connection with the Merger Agreement pursuant to which, among other things, each of them agreed, in his or her capacity as a stockholder of WMIH, to vote his or her shares of WMIH stock in favor of the stock issuance proposal. In addition, each of the voting and support agreements prohibits engaging in activities that have the effect of soliciting a competing acquisition proposal.

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Notes Payable	Note 7: Notes Payable On the Effective Date, WMIH issued $110.0 million aggregate principal amount of its 13% Senior First Lien Notes due 2030 (the “First Lien Notes”) under an indenture, dated as of March 19, 2012 (the “First Lien Indenture”), between WMIH and Wilmington Trust, National Association, as Trustee. Additionally, WMIH issued $20.0 million aggregate principal amount of its 13% Senior Second Lien Notes due 2030 (the “Second Lien Notes” and, together with the First Lien Notes, the “Runoff Notes”) under an indenture, dated as of March 19, 2012 (the “Second Lien Indenture” and, together with the First Lien Indenture, the “Indentures”), between WMIH and the Law Debenture Trust Company of New York, as Trustee. On January 5, 2017, The Law Debenture Trust Company of New York notified WMIH that it had completed the transfer of substantially all of its corporate trust business to Delaware Trust Company, and that Delaware Trust Company had become the successor trustee under the Second Lien Indenture. The Runoff Notes were scheduled to mature on March 19, 2030 and pay interest quarterly. As of April 15, 2015, the First Lien Notes were fully redeemed by the Company, and on April 27, 2015, the First Lien Indenture was satisfied and discharged. As of September 29, 2017, the Second Lien Notes were fully redeemed by the Company, and on October 2, 2017, the Second Lien Indenture was satisfied and discharged. As a result of the satisfaction and discharge of the Second Lien Indenture, the Collateral Account (as defined in the Indentures) was subsequently closed and the remaining funds transferred to cash and cash equivalents to be used for general corporate purposes.

Financing Arrangements

Financing Arrangements	3 Months Ended
	Mar. 31, 2018
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Financing Arrangements	Note 8: Financing Arrangements As of March 31, 2018 and December 31, 2017, the Company had no debt financing arrangements in place.

Capital Stock and Derivative In

Capital Stock and Derivative Instruments	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Capital Stock and Derivative Instruments	Note 9: Capital Stock and Derivative Instruments On the Effective Date, all shares of common and preferred equity securities previously issued by WMI were cancelled and extinguished. As of the Effective Date, and pursuant to WMIHC’s Amended and Restated Articles of Incorporation (the “Articles”), WMIHC was authorized to issue up to 500,000,000 shares of common stock and up to 5,000,000 shares of blank check preferred stock, in one or more series, each with a par value of $0.00001 per share. 200,000,000 shares of common stock were issued by WMIHC in reliance on Section 1145 of the United States Bankruptcy Code on the Effective Date. On May 11, 2015, the date that WMIHC reincorporated from the State of Washington to the State of Delaware (the “Reincorporation Date”), all shares of common and preferred equity securities previously issued by WMIHC automatically were converted into one share of the substantially similar common stock, Series A Preferred Stock or Series B Preferred Stock, as applicable, of WMIH. At the same time, each outstanding option, right or warrant to acquire shares of WMIHC’s common stock was converted into an option, right or warrant to acquire an equal number of shares of WMIH’s common stock under the same terms and conditions as the original options, rights or warrants. As of the Reincorporation Date, and pursuant to the Certificate of Incorporation, WMIH is authorized to issue up to 3,500,000,000 shares of common stock and up to 10,000,000 shares of blank check preferred stock, in one or more series, each with a par value of $0.00001 per share. All of the terms of the agreements described below and attributed to WMIH are also attributable to WMIHC relative to the various agreements and instruments prior to the Reincorporation Date. The references to WMIH are based on the date this Form 10-Q has been filed. The references would have been to WMIHC prior to the Reincorporation Date. On January 30, 2014, WMIH entered into (i) an investment agreement, dated as of January 30, 2014 (the “Investment Agreement”), with KKR Fund and, for limited purposes, KKR Management Holdings L.P., and (ii) an investor rights agreement, dated as of January 30, 2014 (the “Investor Rights Agreement”), with KKR Fund. On January 30, 2014, pursuant to the Investment Agreement, WMIH issued 1,000,000 shares of Series A Preferred Stock having the terms, rights, obligations and preferences contained in the Articles of Amendment of WMIH dated January 30, 2014 for a purchase price equal to $11.1 million and has issued to KKR Fund warrants to purchase, in the aggregate, 61.4 million shares of WMIH’s common stock, 30.7 million of which have an exercise price of $1.32 per share and 30.7 million of which have an exercise price of $1.43 per share (together, the “Warrants”). On February 12, 2018, pursuant to the Amendment to Letter Agreement, KKR Fund contributed all of the Warrants and shares of Series A Preferred Stock held by it to KKR Wand Holdings. The Series A Preferred Stock has rights substantially similar to those associated with WMIH’s common stock, with the exception of a liquidation preference, conversion rights and customary anti-dilution protections. The Series A Preferred Stock has a liquidation preference equal to the greater of (i) $10.00 per one million shares of Series A Preferred Stock plus declared but unpaid dividends on such shares and (ii) the amount that the holder would be entitled to in a relevant transaction had the Series A Preferred Stock been converted to common stock of WMIH. The Series A Preferred Stock is convertible at a conversion price of $1.10 per share into shares of common stock of WMIH either at the option of the holder or automatically upon transfer by KKR Wand Holdings to a non-affiliated party. As a result of the calculation of a beneficial conversion feature as required by ASC topic 470 - Debt a preferred deemed dividend of $9.5 million was recorded in conjunction with the issuance of the Series A Preferred Stock. This preferred deemed dividend resulted in an increase to our accumulated deficit, and an increase in additional paid in capital. Further, KKR Wand Holdings, as the holder of the Series A Preferred Stock and the Warrants, has other rights pursuant to the Investor Rights Agreement as described below. The Warrants have a five-year term from the date of issuance and are subject to customary structural adjustment provisions for stock splits, combinations, recapitalizations and other similar transactions. KKR Wand Holdings’ rights as a holder of the Series A Preferred Stock and the Warrants, and the rights of any subsequent holder that is an affiliate of KKR Fund (together with KKR Wand Holdings, the “Series A Holders”) are governed by the Investor Rights Agreement. On February 12, 2018, in connection with the Merger Agreement, KKR Wand Holdings and WMIH entered into a warrant exchange agreement, pursuant to which, conditioned and effective upon the effectiveness of the Merger, KKR Wand Holdings agreed to exchange the 61,400,000 Warrants it holds for 21,197,619 shares of WMIH common stock (the “Warrant Exchange”). In accordance with the Investor Rights Agreement, except for the issuance of WMIH’s common stock in respect of the Warrants and the Series A Preferred Stock, KKR Fund and its affiliates (including KKR Wand Holdings) shall not purchase or acquire any equity securities of WMIH or its subsidiaries without WMIH’s prior written consent, subject to certain exceptions. The Investor Rights Agreement also provides the Series A Holders with registration rights, including three long form demand registration rights, unlimited short form demand registration rights and customary piggyback registration rights with respect to WMIH’s common stock (and WMIH’s common stock underlying the Series A Preferred Stock and the Warrants), subject to certain minimum thresholds, customary blackout periods and lockups of 180 days. On July 1, 2015, WMIH filed a shelf registration statement (the “Initial Registration Statement”) covering resales of Series B Preferred Stock and WMIH’s common stock issuable upon mandatory conversion of the Series B Preferred Stock. On November 23, 2015, WMIH amended the Initial Registration Statement to cover WMIH’s common stock issuable upon conversion of the Series A Preferred Stock and shares of WMIH’s common stock issuable upon exercise of warrants issued in connection with the issuance of our Series A Preferred Stock currently outstanding (as amended, the “Registration Statement”). The Registration Statement was declared effective under the Securities Act of 1933, as amended (the “Securities Act”) on November 25, 2015. On January 26, 2018, WMIH amended the Registration Statement, by means of a post-effective amendment, to deregister the Series B Preferred Stock and WMIH’s common stock issuable upon mandatory conversion of the Series B Preferred Stock, and such post-effective amendment to the Registration Statement was declared effective under the Securities Act on January 29, 2018. The Investor Rights Agreement also provides that to the extent that WMIH undertakes any capital markets issuances, WMIH shall engage KKR Capital Markets LLC to assist WMIH in such issuances on customary commercial terms reasonably acceptable to WMIH. For as long as the Series A Holders beneficially own any shares of common stock of WMIH or Series A Preferred Stock or any of the Warrants, WMIH has agreed to provide customary Rule 144A information rights, to provide the Series A Holders with regular audited and unaudited financial statements and to allow the Series A Holders or their representatives to inspect WMIH’s books and records. Pursuant to the KKR Letter Agreement, as amended by the Amendment to Letter Agreement, for the period commencing on December 8, 2017 (the “Amendment Date”), and ending on the date that is eighteen (18) months following January 5, 2018 (the “Series B Amendment Effective Time”) for so long as (1) KKR Wand Holdings has not transferred any, and together with the KKR Affiliates continues to beneficially own (with the unencumbered right to vote) all, of the Series A Preferred Stock it or KKR Fund owns as of the Amendment Date, (2) KKR Wand Holdings has not transferred any, and together with the KKR Affiliates continues to beneficially own (with the unencumbered right to vote) all, Warrants it or KKR Fund owns as of the Amendment Date or any of the common stock issuable upon the exercise thereof, and (3) KKR Wand Investors has not transferred, in the aggregate, more than, and together with the KKR Affiliates continues to beneficially own (with the unencumbered right to vote) at least, 50% of the Series B Preferred Stock it or KKR Wand owns as of the Amendment Date, the Company shall not enter into a definitive agreement with respect to any target acquisition without the prior written consent of KKR Wand Holdings; provided, however, that if KKR Wand Holdings does not give written notice to the Company of its approval of, or objection to, a proposed target acquisition within five (5) business days of having received notice of the material definitive terms of such target acquisition, KKR Wand Holdings shall be deemed to have approved such target acquisition and the Company may pursue such target acquisition, including by entering into a definitive material agreement in respect thereof, without the prior written consent of KKR Wand Holdings hereunder. For the avoidance of doubt, after the date that is eighteen (18) months following the Series B Amendment Effective Time, KKR Wand Holdings shall have no consent rights hereunder with respect to any target acquisition. KKR Wand Holdings has consented to the Merger. The foregoing description of (i) the Investor Rights Agreement is qualified in its entirety by reference to the Investor Rights Agreement, which was filed with the SEC as Exhibit 4.2 on Form 8-K on January 31, 2014, and incorporated by reference, (ii) the Warrants are qualified in their entirety by reference to the Form of Tranche A Warrant and Form of Tranche B Warrant, which were filed with the SEC as Exhibits 4.3 and 4.4, respectively, on Form 8-K on January 31, 2014, and incorporated by reference, (iii) the Series A Preferred Stock is qualified in its entirety by reference to the Articles of Amendment of WMIH dated January 30, 2014, which were filed with the SEC as Exhibit 4.5 on Form 8-K on January 31, 2014, and incorporated by reference, the Form of Series A Convertible Preferred Stock Certificate, which was filed with the SEC as Exhibit 4.6 on Form 8-K on January 31, 2014, and incorporated by reference, and the Certificate of Incorporation, which was filed with the SEC as Exhibit 3.1 on Form 8-K12G3 on May 13, 2015, and incorporated by reference, (iv) the Investment Agreement is qualified in its entirety by reference to the Investment Agreement, which was filed with the SEC as Exhibit 10.1 on Form 8-K on January 31, 2014, and incorporated by reference, and (v) the KKR Letter Agreement is qualified in its entirety by reference to the KKR Letter Agreement, which was filed with the SEC as Exhibit 10.3 on Form 8-K on December 11, 2017, and incorporated by reference, and the On January 5, 2015, WMIH, in connection with an offering of 600,000 shares of its Original Series B Preferred Stock, filed with the Secretary of State of Washington Articles of Amendment of Articles of Incorporation (the “Articles of Amendment”) containing the Designation of Rights and Preferences of the 3% Series B Convertible Preferred Stock (the “Certificate of Designation”) creating the Original Series B Preferred Stock and designating the rights and preferences of the Original Series B Preferred Stock. The foregoing descriptions of the Articles of Amendment and the Certificate of Designation are qualified in their entirety by the provisions of the Articles of Amendment and the Certificate of Designation, filed as Exhibits 3.1 and 4.1 to a Form 8-K on January 5, 2015, respectively, and incorporated by reference herein , and the Certificate of Incorporation, which was filed with the SEC as Exhibit 3.1 on Form 8-K12G3 on May 13, 2015, and incorporated by reference On January 5, 2015, in connection with the offering and pursuant to that certain Purchase Agreement, dated December 19, 2014 (the “Purchase Agreement”), by and among WMIH, Citigroup Global Markets Inc. (“Citi”) and KCM (KCM and Citi together, the “Initial Purchasers”), WMIH entered into a Registration Rights Agreement with the Initial Purchasers (the “Registration Rights Agreement”), pursuant to which WMIH has agreed that, subject to certain conditions, WMIH will use its reasonable efforts to (i) file a shelf registration statement covering resales of WMIH’s common stock issuable upon mandatory conversion of the Original Series B Preferred Stock no later than six months after January 5, 2015 (the “Issue Date”); (ii) file a shelf registration statement covering resales of the Original Series B Preferred Stock no later than one year after the Issue Date; and (iii) cause each of these shelf registration statements to be declared effective under the Securities Act. On July 1, 2015, WMIH filed the Initial Registration Statement covering resales of the Original Series B Preferred Stock and shares of WMIH’s common stock issuable upon mandatory conversion of the Original Series B Preferred Stock. On November 23, 2015, WMIH amended the Initial Registration Statement to cover WMIH’s common stock issuable upon conversion of the Series A Preferred Stock and shares of WMIH’s common stock issuable upon exercise of warrants issued in connection with the issuance of our Series A Preferred Stock currently outstanding. The R On January 5, 2018, WMIH entered into an amendment to such Registration Rights Agreement (which we refer to, as amended, as the “Series B Registration Rights Agreement”), pursuant to which WMIH agreed to use reasonable efforts to file a shelf registration statement (or, as permitted, an amendment to any existing shelf registration statement) with the SEC as promptly as practicable after January 5, 2018, but no later than June 15, 2018, with respect to (i) resales of the shares of the Series B Preferred Stock that are Transfer Restricted Securities (as defined in the Series B Registration Rights Agreement) and (ii) resales of the shares common stock that are Transfer Restricted Securities and (a) issuable upon the conversion of shares of the Series B Preferred Stock, (b) issuable as a Regular Dividend (as defined in the WMIH charter) and (c) issuable as a Special Distribution (as defined in the WMIH charter). On January 26, 2018, WMIH amended the Registration Statement, by means of a post-effective amendment, to deregister the Original Series B Preferred Stock and WMIH’s common stock issuable upon mandatory conversion of the Original Series B Preferred Stock, and such post-effective amendment to the Registration Statement was declared effective under the Securities Act on January 29, 2018. In connection with the transactions contemplated by the Merger Agreement, WMIH, KKR Wand Holdings, KKR Wand Investors and Fortress executed a Letter Agreement on February 12, 2018 (the “Fortress Letter Agreement”) pursuant to which the holders of WMIH stock affiliated with KKR agreed to modify certain of their registration rights. The reference to the Fortress Letter Agreement is qualified in its entirety by reference to the Letter Agreement dated as of February 12, 2018, by and among the Company, Fortress and the other stockholders party from time to time thereto, which was filed with the SEC as Exhibit 10.2 on Form 8-K on February 12, 2018, and incorporated by reference. The foregoing description of the Registration Rights Agreement is qualified in its entirety by the provisions of the Registration Rights Agreement, filed as Exhibit 10.1 on Form 8-K on January 5, 2015, and incorporated by reference herein, and to the First Amendment to that certain Registration Rights Agreement, dated January 5, 2018 and filed as Exhibit 10.1 on Form 8-K on January 5, 2018, and incorporated by reference herein. On January 5, 2015, in connection with the offering and pursuant to the Purchase Agreement, WMIH entered into an Escrow Agreement (the “Escrow Agreement”) with Citibank, N.A., as Escrow Agent (the “Escrow Agent”), pursuant to which WMIH caused to be deposited with the Escrow Agent the amount of $598.5 million, representing the proceeds of the offering of the Original Series B Preferred Stock less offering fees payable on the Issue Date but before payment of other offering fees and expenses (including fees contingent upon future events). These net proceeds have been, and will be, released from escrow from time to time to WMIH as instructed by WMIH in amounts necessary to (i) pay certain fees related to the offering that may become payable to the Initial Purchasers, (ii) finance WMIH’s efforts to explore and/or fund, in whole or in part, acquisitions, whether completed or not, including reasonable attorney fees and expenses related thereto, accounting expenses, due diligence and financial advisor fees and expenses, (iii) pay certain amounts that may become payable to the holders of the Series B Preferred Stock upon the occurrence of certain put events, (iv) pay certain amounts that would become payable to the holders of the Series B Preferred Stock upon a mandatory redemption of the Series B Preferred Stock, and (v) pay certain expenses related to the offering. The entire net proceeds will be released from escrow as instructed by WMIH upon consummation of a Qualified Acquisition (as defined below). If we have not consummated a Qualified Acquisition on or prior to October 5, 2019, we will be required to redeem all of the outstanding Series B Preferred Stock on October 5, 2019, the Series B Redemption Date; provided, if prior to the Series B Redemption Date we have publicly announced that WMIH has entered into a definitive agreement for an Acquisition, the Series B Redemption Date will be extended to the earlier of April 5, 2020 and the day immediately following the date such definitive agreement is terminated or the date such Acquisition is closed. “Acquisition” means any acquisition by the Company (or any of its direct or indirect wholly-owned subsidiaries), in a single transaction or a series of transactions, whether by purchase, merger or otherwise, of all or substantially all of the assets of, or of 80% or more of the equity interests in, or a business line, unit or division of, any person. A “Qualified Acquisition” means an Acquisition that, taken together with prior Acquisitions (if any), collectively utilizes aggregate net proceeds of the Series B Preferred Stock financing of $450 million. shares of WMIH’s common stock in respect of any As of March 31, 2018, and December 31, 2017, the balance remaining in the escrow account totaled approximately $576.2 million and $578.9 million, respectively. The foregoing description of the Escrow Agreement is qualified in its entirety by the provisions of the Escrow Agreement, filed on Form 8-K on January 5, 2015, as Exhibit 10.2 and incorporated by reference herein, and as amended by Amendment No. 1, Amendment No. 2, and Amendment No. 3, filed on Form 10-K on March 2, 2018, Form 8-K on December 11, 2017 and on Form 10-K on March 2, 2018, respectively. If the Series B Preferred Stock is redeemed or determined likely to be redeemed, the Company would be required to record a charge to earnings of approximately $96.3 million to accrete the value of the Series B Preferred Stock to the $600.0 million redemption value. As of March 31, 2018, the Company has determined that recording for accretion to the Series B Preferred Stock’s redemption value is not required. The shares of Series B Preferred Stock are hybrid financial instruments that blend characteristics of both equity and debt securities. The terms of the Series B Preferred Stock provide for either redemption of the principal and interest for cash at maturity or in the event of certain predetermined circumstances or mandatory conversion into WMIH’s common stock. The Original Series B Preferred Stock also embodied contingent equity-linked share price protections, an embedded conversion feature, in the form of a variable conversion price based on a 20 trading day average of volume weighted-average price. The Series B Preferred Stock has no variable conversion feature and the fair market value at December 31, 2017 of the embedded conversion feature was reclassified to equity. The Original Series B Preferred Stock was amended on December 8, 2017 and this amendment became effective at A derivative liability results primarily when the Company average stock price (as defined in the Certificate of Incorporation) exceeds the conversion price, including the ceiling conversion price of $2.25, as defined by the Certificate of Incorporation. A derivative asset results when the Company’s average stock price is less than the conversion price, including the floor price of $1.75. constituted other income or expense, as the case may be, in the applicable reporting period. Upon conversion or redemption of the Original Series B Preferred Stock, any asset or liability related to the embedded conversion feature would have been eliminated. Upon modification of the Original Series B Preferred Stock, specifically as a result of the elimination of the variable conversion feature, the embedded conversion feature is no longer required to be separately accounted for. At December 31, 2017, the fair market value of the embedded conversion feature was determined to be $108.9 million, and this amount was reclassified to equity. On June 1, 2017, WMIH issued restricted stock grants to members of the Board totaling $0.4 million, of aggregate fair value. The restricted shares noted above vest over a three-year period. On May 15, 2015, WMIH issued restricted stock grants to our Chief Executive Officer, William C. Gallagher, and our President and Chief Operating Officer, Thomas L. Fairfield, in conjunction with employment agreements totaling $9.8 million of aggregate fair value (the “Exec Grants”) based on the $2.76 trading price of WMIH shares at the close of business on the date issued. The number of shares of WMIH common stock granted in connection with this award was determined by dividing $4.0 million by $2.25 per share of WMIH common stock (i.e., the assumed conversion price specified in the Exec Grants executed on the grant date); provided however, pursuant to the terms of the employment agreements, if the final conversion price of the Series B Preferred Stock (the “Series B Conversion Price”) is lower than $2.25 per share, WMIH is required to grant additional shares to Mr. Gallagher and Mr. Fairfield so that the total award will be equal to the amount of shares that would have been granted if the assumed conversion price had been equal to the final Series B Conversion Price (subject to a minimum price of $1.75 per share). Accordingly, WMIH will be required to issue an additional 507,936 restricted shares to each of Mr. Gallagher and Mr. Fairfield (1,015,872 total shares) if the Merger is consummated, based on the final Series B Conversion Price of $1.35 and the minimum grant price of $1.75. The Exec Grants will vest in full and will be recognized as compensation expense upon the consummation of a Qualified Acquisition, subject to the executives’ continued employment with the Company until such time. The foregoing description of the restricted stock agreement does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Gallagher Restricted Stock Agreement and the Fairfield Restricted Stock Agreement (collectively, the “Executive Agreements”), which were filed as Exhibit 10.3 and Exhibit 10.5, respectively, of Form 8-K12G3 filed on May 13, 2015 and incorporated herein by reference. On March 9, 2018, WMIH entered into the Amendment of the Gallagher employment agreement (as defined below) (which we refer to as the “Gallagher Amendment”) and the Amendment of the Fairfield employment agreement (as defined below) (which we refer to as the “Fairfield Amendment” and, together with the Gallagher Amendment, which we refer to as the “Employment Amendments”). The Employment Amendments, which were approved by the Board and its compensation committee, amend each of the Gallagher employment agreement and the Fairfield employment agreement, by extending the terms of each of Mr. Gallagher’s and Mr. Fairfield’s employment with WMIH until the earlier of (a) the closing date of the Merger or (b) the termination of the Merger Agreement. Except as modified by the Amendments, all other terms and conditions of each of the Gallagher employment agreement and Fairfield employment agreement remain in full force and effect. The Employment Amendments were filed as Exhibit 10.1 and Exhibit 10.2, respectively, of Form 8-K filed on March 9, 2018 and incorporated herein by reference. The fair market value of the Exec Grants as of March 31, 2018 approximates $5.0 million as the stock price was $1.42 per share at the close of the market on March 31, 2018. This excludes the 1,015,872 additional shares (the “Exec Additional Shares”) which will be issued upon consummation of the Nationstar Transaction, 507,936 additional shares each to both Mr. Gallagher and Mr. Fairfield. The total unamortized value related to the unvested restricted share grants totals $5.5 million and $3.5 million at March 31, 2018 and December 31, 2017, respectively. The unamortized value of $5.5 million at March 31, 2018, if all are ultimately vested, would be amortized according to the following schedule. The fair value of the Exec Grants will vest and be recognized on the date of the consummation of a Qualified Acquisition. Additionally, the Exec Additional Shares would be issued and immediately vest on the date of the consummation of a Qualified Acquisition. Amortization Schedule (in thousands) March 31, 2018 unamortized dollar value 2nd quarter 2018 $ 71 3rd quarter 2018 71 4th quarter 2018 71 1st quarter 2019 66 2nd quarter 2019 36 3rd quarter 2019 36 4th quarter 2019 36 1st quarter 2020 31 Unamortized fair-value - subject to vesting schedule 418 Unamortized fair-value - event dependent 5,049 Total unamortized dollar value $ 5,467 Net equity-based compensation totaled $0.1 million and $0.1 million for the three months ended March 31, 2018 and March 31, 2017, respectively. The restricted stock awards were issued at the fair market value determined to be the trading price at the close of business on the respective date the awards were granted. A summary of WMIH’s restricted stock award activity for the three months ended March 31, 2018 and year ended December 31, 2017 is presented below: Number of restricted stock awards outstanding Weighted-average grant date fair value Aggregate fair value (in thousands) Outstanding—January 1, 2017 6,380,800 2.1306 13,595 Restricted stock awards granted during 2017 333,332 1.2000 400 Outstanding—December 31, 2017 6,714,132 2.0844 13,995 Restricted stock awards granted during 2018 — — — Outstanding—March 31, 2018 6,714,132 $ 2.0844 $ 13,995 WMIH has issued the total number of shares subject to the restricted stock grants, however, until vested they are subject to repurchase. Shares subject to repurchase totaled 3,834,512 on March 31, 2018 and 4,053,640 on December 31, 2017. The Exec Grants vest upon future events, and are not time specific, therefore, they are listed as event dependent. The shares subject to repurchase at March 31, 2018 will vest, assuming circumstances remain unchanged, according to the following schedule: Vesting schedule of shares subject to repurchase March 31, 2018 unvested shares 1st quarter 2019 167,848 2nd quarter 2019 — 3rd quarter 2019 — 4th quarter 2019 — 1st quarter 2020 111,108 Total unvested shares - subject to vesting schedule 278,956 Unvested shares - event dependent 3,555,556 Total unvested shares 3,834,512 Pursuant to a restricted stock agreement, WMIH has the right, but not the obligation, to repurchase any unvested (but issued) shares of WMIH’s common stock at $0.00001 per share upon the termination of service in the case of a director, or in the case of the Exec Grants, if the Series B Preferred Stock are redeemed or as a result of certain circumstances as defined by the terms of the Exec Grants. A summary of WMIH’s restricted shares issued and subject to repurchase as of March 31, 2018 and December 31, 2017 is presented below: Vesting schedule of shares subject to repurchase Unvested shares Shares subject to repurchase—January 1, 2017 4,039,591 Shares issued subject to vesting during 2017 333,332 Shares vested during 2017 (319,283 ) Shares subject to repurchase—December 31, 2017 4,053,640 Shares issued subject to vesting during 2018 — Shares vested during 2018 (219,128 ) Shares subject to repurchase—March 31, 2018 3,834,512 On June 1, 2017, WMIH issued 333,332 restricted stock grants to members of the Board totaling $0.4 million of aggregate fair value. The share price was determined based on the closing sales price of $1.20 on the date of the award. As of March 31, 2018 and December 31, 2017, 206,714,132 shares of WMIH’s common stock, 1,000,000 shares of the Series A Preferred Stock, 600,000 shares of the Series B Preferred Stock, and 61,400,000 warrants to purchase WMIH’s common stock, were issued and outstanding. See Note 12: Net Income Per Common Share for further information on shares used for EPS calculations.

Pending Litigation

Pending Litigation	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Pending Litigation	Note 10: Pending Litigation As of March 31, 2018, the Company was not a party to, or aware of, any pending legal proceedings or investigations requiring disclosure at this time.

Restriction on Distribution of

Restriction on Distribution of Net Assets from Subsidiary	3 Months Ended
	Mar. 31, 2018
Receivables [Abstract]
Restriction on Distribution of Net Assets from Subsidiary	Note 11: Restriction on Distribution of Net Assets from Subsidiary WMMRC has net assets totaling $12.7 million and $13.1 million as of March 31, 2018 and December 31, 2017, respectively. These net assets are not immediately available for distribution to WMIH due to restrictions imposed by trust agreements, and the requirement that the Insurance Division of the State of Hawaii must approve dividends from WMMRC.

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	Note 12: Net Income (Loss) Per Common Share In calculating earnings per share, the Company follows the two-class method, which distinguishes between the classes of securities based on the proportionate participation rights of each security type in the Company's undistributed income. The Series A Preferred Stock and the Series B Preferred Stock are treated as one class for purposes of applying the two-class method, because they have substantially equal rights and share equally on an as converted basis with respect to income available to WMIH common stockholders. Basic net income per WMIH share attributable to common stockholders is computed by dividing net income attributable to WMIH’s common stockholders by the weighted-average number of common shares outstanding for the period after subtracting the weighted-average of any unvested restricted shares outstanding, as these shares are subject to repurchase. Basic net income attributable to common stockholders is computed by deducting preferred dividends and the basic calculation of undistributed earnings attributable to participating securities from net income. Diluted net income per WMIH share would be computed by dividing net income attributable to WMIH’s common stockholders for the period by the weighted-average number of common shares outstanding after subtracting the weighted-average of any incremental unvested restricted shares outstanding and adding any potentially dilutive common equivalent shares outstanding during the period, if dilutive. Potentially dilutive common equivalent shares are comprised of the incremental common shares issuable upon the exercise of warrants for WMIH’s common stock and the potential conversion of preferred shares to common shares and the dilutive effect of unvested restricted stock. Diluted net income attributable to common stockholders is computed by deducting preferred dividends and the diluted calculation of undistributed earnings attributable to participating securities from net income. The dilutive effect of outstanding warrants and restricted stock subject to repurchase is reflected in diluted earnings per share by application of the treasury stock method. There would be no dilutive effects from any equity instruments for periods presented reflecting a net loss, therefore diluted net loss per share would be the same as basic net loss per share for periods that reflect a net loss attributable to common stockholders. Certain unvested restricted shares and convertible preferred stock are excluded from the calculation of diluted earnings per share until the non-market based contingency occurs. The following table presents the calculation of basic net (loss) income per share for periods presented: (in thousands, except per share data): Three months ended March 31, 2018 Three months ended March 31, 2017 Numerator for basic net (loss) income per share: Net (loss) income $ (5,583 ) $ 17,789 Less: Series B preferred stock dividends (200 ) (4,500 ) Less: undistributed earnings attributed to participating securities (basic calculation) — (8,445 ) Basic net (loss) income attributable to common stockholders $ (5,783 ) $ 4,844 Denominator for basic net (loss) income per share: Weighted-average shares outstanding 206,714,132 206,380,800 Weighted-average unvested restricted shares outstanding (4,021,988 ) (3,956,831 ) Denominator for basic net (loss) income per share 202,692,144 202,423,969 Basic net (loss) income per share attributable to common stockholders $ (0.03 ) $ 0.02 The following table presents the calculation of diluted net (loss) income per share for periods presented: (in thousands, except per share data): Three months ended March 31, 2018 Three months ended March 31, 2017 Numerator for diluted net (loss) income per share: Net (loss) income $ (5,583 ) $ 17,789 Less: Series B preferred stock dividends (200 ) (4,500 ) Less: undistributed earnings attributed to participating securities (diluted calculation) — (8,428 ) Diluted net (loss) income attributable to common stockholders $ (5,783 ) $ 4,861 Denominator for diluted net (loss) income per share: Weighted-average shares outstanding 206,714,132 206,380,800 Weighted-average unvested restricted shares outstanding (4,021,988 ) (3,956,831 ) Effect of dilutive potential shares — 11,199,990 Denominator for diluted net (loss) income per share 202,692,144 213,623,959 Diluted net (loss) income per share attributable to common stockholders $ (0.03 ) $ 0.02 The following table summarizes shares subject to exercise or vesting conditions as more fully described in Note 9: Capital Stock and Derivative Instruments. These shares could potentially be dilutive in future periods if we realize net income attributable to common and participating stockholders and the contingent or unvested stock is converted to WMIH common stock. The cash payment of $84.4 million, which would be received upon exercise of the warrants, has not been considered as an offset to the dilutive shares under warrants outstanding below. The Warrant Exchange, which is conditioned upon the closing of the Merger and which would reduce the number of warrants received from 61,400,000 shares to 21,197,619 shares, is not reflected below. Potential dilution to common Minimum shares Maximum shares Restricted shares subject to vesting 3,834,512 3,834,512 Series A Preferred Stock 10,065,629 10,065,629 Warrants outstanding 61,400,000 61,400,000 Maximum number of restricted shares to be issued if Nationstar Transaction is consummated — 1,015,872 Series B Preferred Stock ($1.35 conversion) 444,444,444 444,444,444 Potential common shares issued to satisfy Series B Preferred Stock dividends (full term) — 64,285,714 Potential common shares issued to satisfy Series B Preferred Stock acquisition conversion payment — 11,428,572 Potential dilutive shares if converted to common 519,744,585 596,474,743

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurement	Note 13: Fair Value Measurement We use a fair-value approach to value certain assets and liabilities. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. We use a fair value hierarchy, which distinguishes between assumptions based on market data (observable inputs) and an entity’s own assumptions (unobservable inputs). The hierarchy consists of three levels: • Level 1 — Inputs to the valuation methodology are quoted prices for identical assets or liabilities traded in active markets; • Level 2 — Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and market corroborated inputs; and • Level 3 — Valuations based on models where significant inputs are not observable. The unobservable inputs reflect the Company’s own assumptions about the inputs that market participants would use. Determining which category an asset or liability falls within the fair value accounting guidance hierarchy requires significant judgment. We evaluate our hierarchy disclosures each quarter. Assets and liabilities measured at fair value on a recurring basis are summarized as follows: The financial instrument that was measured at fair value on a recurring basis was determined to no longer require bifurcation as of December 31, 2017, and therefore is no longer separately accounted for. The following table shows the change in Level 3 assets and liabilities measured at fair value on a recurring basis for the three months ended March 31, 2018 and the year ended December 31, 2017: Derivative asset embedded conversion feature (in thousands) Balance, January 1, 2017 $ 80,651 Gain on change in fair value 28,242 Reclassification of derivative asset to equity (108,893 ) Balance, December 31, 2017 and March 31, 2018 $ — On January 5, 2015, WMIH raised $600.0 million of capital (less transaction costs) through the issuance of 600,000 shares of Original Series B Preferred Stock. The shares carry a liquidation preference of $1,000 per share, equal to the purchase price. In addition, they have a mandatory redemption right three years from the issuance date at a price equal to the initial investment amount, and initially accrued dividends at 3% per annum. The Original Series B Preferred Stock was amended on December 8, 2017 and this amendment became effective on January 5, 2018. The purpose of the capital raise was principally to pursue strategic acquisitions of operating companies that fit the Company’s desired business model, such as the Nationstar Transaction, with the proceeds of the capital raise, and should it occur during the term of the Series B Preferred Stock, there is a mandatory conversion of these shares into common stock of WMIH. Mandatory conversion (prior to the Series B Amendment Effective Time) occurred at a price that was the lesser of: i) $2.25 per share of WMIH common stock; and ii) the arithmetic average of daily volume weighted-average prices of WMIH’s common stock during the 20 trading day period ending on the trading day immediately preceding the public announcement by WMIH of its entry into a definitive agreement for such acquisition, subject to a floor of $1.75 per share of WMIH common stock. Subsequent to the Series B Amendment Effective Time, if there is a mandatory conversion of these shares into common stock of WMIH, the shares convert at a rate of $1.35 per share of WMIH’s common stock. We used a binomial lattice option pricing model to value the embedded conversion feature that was subject to fair value liability accounting. The determination of the fair value as of the reporting date included our stock price as well as assumptions regarding a number of complex and subjective variables. These variables included, but were not limited to, expected stock price volatility over the term of the convertible preferred securities, and risk-free interest rate. In addition, the model required the input of an expected probability of occurrence, and the timing of a Qualified Acquisition which initiates the mandatory conversion. The fair value of the embedded conversion feature was revalued each reportable balance sheet date utilizing our model computations with the decrease or increase in fair value being reported in the condensed consolidated statements of operations as gain or (loss) on change in fair value of derivative embedded conversion feature, respectively. The primary factors affecting the fair value of the embedded conversion feature liability were the probability of occurrence and timing of a Qualified Acquisition, our stock price and our stock price volatility. In addition, the use of a model requires the input of subjective assumptions, and changes to these assumptions could provide differing results. As a result of the amendment of the terms of the Series B Preferred Stock’s conversion price the derivative embedded conversion feature was adjusted to its fair value at December 31, 2017. The variance from the fair value at December 31, 2016, $28.2 million was recorded as other income and the fair market value as of December 31, 2017, $108.9 million was transferred to equity. The embedded conversion feature, subsequent to the Series B Amendment Effective Time, will not be considered a derivative, primarily due to the elimination of the variance in the conversion price and the determination that the conversion feature is indexed to WMIH’s common stock, and therefore, will not be revalued in future periods.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 14: Subsequent Events On May 8, 2018, a purported class action lawsuit, styled as Franchi v. Nationstar Mortgage Holdings Inc., et al., Case No. 3:18-cv-01170-B, was filed in the United States District Court for the Northern District of Texas naming Nationstar, WMIH, Wand Merger Corporation and the individual members of the Nationstar board of directors as defendants. The complaint alleges that the defendants violated the Exchange Act by disseminating a false and misleading registration statement. The lawsuit seeks a variety of equitable and injunctive relief including, among other things, enjoining the consummation of the Merger, rescinding the Merger to the extent already implemented, directing the defendants to disseminate a registration statement that does not contain any untrue statement of material fact, declaring the defendants violated the Exchange Act, and awarding plaintiffs costs and attorneys’ fees. The defendants believe this lawsuit is without merit and intend to vigorously defend against it.

Significant Accounting Polici21

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Basis of Presentation	Basis of Presentation WMIH resumed timely filing of all periodic reports for a reporting company under the Exchange Act for all periods after emergence from bankruptcy on the Effective Date. The accompanying unaudited condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for quarterly reporting. Certain information and footnote disclosures normally included in the financial statements and prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations; however, the Company believes that the disclosures included are appropriate. The condensed consolidated balance sheet as of December 31, 2017, included herein, was derived from the audited consolidated financial statements as of that date. These interim unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto filed in the Company’s Annual Report on Form 10-K, filed with the SEC on March 2, 2018. Interim information presented in the unaudited condensed consolidated financial statements has been prepared by management. In the opinion of management, the financial statements include all adjustments necessary for a fair presentation and that all such adjustments are of a normal, recurring nature and necessary for the fair statement of the financial position, results of operations and cash flows for the periods presented in accordance with GAAP. The results of operations for the three months ended March 31, 2018 are not necessarily indicative of the results to be expected for the full year ending December 31, 2018. All significant intercompany transactions and balances have been eliminated in preparing the condensed consolidated financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Management has made significant estimates in certain areas, including valuing certain financial instruments, other assets and liabilities, the determination of the contingent risk liabilities, and in determining appropriate insurance reserves. Actual results could differ substantially from those estimates.
Fair Value of Certain Financial Instruments	Fair Value of Certain Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Generally, for assets that are reported at fair value, the Company uses quoted market prices or valuation models to estimate their fair value. These models incorporate inputs such as forward yield curves, market volatilities and pricing spreads, utilizing market-based inputs where readily available. The degree of management judgment involved in estimating the fair value of a financial instrument or other asset is dependent upon the availability of quoted market prices or observable market inputs. For financial instruments that are actively traded in the marketplace or whose values are based on readily available market value data, little judgment is necessary when estimating the instrument’s fair value. When observable market prices and data are not readily available, significant management judgment often is necessary to estimate fair value. In those cases, different assumptions could result in significant changes in valuation. The Company classifies fixed-maturity investments as trading securities, which are recorded at fair value. As such, changes in unrealized gains and losses on investments held at the balance sheet date are recognized and reported as a component of net investment income on the condensed consolidated statement of operations. The Company believes fair value provides better matching of investment earnings to potential cash flow generated from the investment portfolio and reduces subjectivity related to evaluating other-than-temporary impairment on the Company’s investment portfolio. The carrying value of cash and cash equivalents, restricted cash, accounts payable and accrued liabilities approximate their respective fair values because of their short-term nature. The carrying value of the loss contract reserve, in periods during which such reserve exists, approximates its fair value and is based on valuation methodologies using discounted cash flows at interest rates which approximate the Company’s weighted-average cost of capital. The carrying value of the d erivative embedded conversion feature adjusted to its fair value as determined using Level 3 inputs described below under fair value measurement. The carrying value of notes payable, in periods during which such notes payable exist, approximates fair value based on time to maturity, underlying collateral, and prevailing interest rates.
Fair Value Measurement	Fair Value Measurement The Company’s estimates of fair value for financial assets and financial liabilities are based on the framework established in the Financial Accounting Standards Board (“FASB”) Fair Value Measurements and Disclosures accounting guidance. The framework is based on the inputs used in valuation and requires that observable inputs be used in the valuations when available. The disclosure of fair value estimates in the fair value accounting guidance hierarchy is based on whether the significant inputs into the valuation are observable. In determining the level of the hierarchy in which the estimate is disclosed, the highest priority is given to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs that reflect the Company’s significant market assumptions. The three levels of the hierarchy are as follows: Level 1–Inputs to the valuation methodology are quoted prices for identical assets or liabilities traded in active markets. Level 2–Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability and market corroborated inputs. Level 3–Valuations based on models where significant inputs are not observable. The unobservable inputs reflect the Company’s own assumptions about the inputs that market participants would use. Fair values are based on quoted prices in active markets when available (Level 1). The Company receives the quoted prices from a third party, nationally recognized pricing service. When quoted prices are not available, the Company utilizes a pricing service to determine an estimate of fair value. The fair value is generally estimated using current market inputs for similar financial instruments with comparable terms and credit quality, commonly referred to as matrix pricing (Level 2). These valuation techniques involve some level of management estimation and judgment. The Company recognizes transfers between levels in the fair value hierarchy at the end of the reporting period.
Investments Held in Trust	Investments Held in Trust Investments held in trust consist of cash equivalents, which include highly liquid overnight money market instruments, and fixed-maturity securities which are held in trust for the benefit of the primary insurers, as more fully described in Note 3: Insurance Activity and Note 4: Investment Securities, and are subject to the restrictions on distribution of net assets of subsidiaries as described below.
Third Party Restrictions on Distribution of Net Assets of Wholly-Owned Subsidiaries	Third Party Restrictions on Distribution of Net Assets of Wholly-Owned Subsidiaries The net assets of WMMRC are subject to restrictions on distribution from multiple sources, including the primary insurers who have approval control of distributions from the trust, and the Insurance Division of the State of Hawaii who has approval authority over distributions or intercompany advances.
Premium Recognition	Premium Recognition Premiums assumed are earned on a daily pro-rata basis over the underlying policy terms. Premiums assumed relating to the unexpired portion of policies in force at the balance sheet date are recorded as unearned premiums. Unearned premiums also include a reserve for post default premium reserves. Post default premium reserves occur when a loan is in a default position and the servicer continues to advance the premiums. If the loan ultimately goes to claim, the premiums advanced during the period of default are subject to recapture. The Company records a default premium reserve based on information provided by the underlying mortgage insurers when they provide information on the default premium reserve separately from other reserves. The change in the post default premium reserve is reflected as a reduction or increase, as the case may be, in premiums assumed. The Company has recorded unearned premiums totaling zero and $39 thousand as of March 31, 2018 and December 31, 2017, respectively. The Company recognizes premium deficiencies when there is a probable loss on an insurance contract. Premium deficiencies are recognized if the sum of the present value of expected losses and loss adjustment expenses, unamortized deferred acquisition costs, and maintenance costs, excluding intercompany charges, exceed expected future unearned premiums and anticipated investment income. Premium deficiency reserves have been recorded totaling $0.4 million and $0.3 million as of March 31, 2018 and December 31, 2017, respectively. Intercompany administrative costs are excluded from the computation of premium deficiencies. The Company’s premium deficiency analysis was performed on a single book basis and includes all book years and reinsurance treaties aggregated together using assumptions based on the actuarial best estimates at the balance sheet date. The calculation for premium deficiency requires significant judgment and includes estimates of future expected premiums, claims, loss adjustment expenses and investment income as of the balance sheet date. To the extent ultimate losses are higher or premiums are lower than estimated, additional premium deficiency reserves may be required in the future.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand, amounts due from banks, U.S. Treasury bills and overnight investments. Except as described above in Investments Held in Trust, the Company considers all amounts that are invested in highly liquid overnight money market instruments to be cash equivalents. The Federal Deposit Insurance Corporation (“FDIC”) insures amounts on deposit with each financial institution up to limits as prescribed by law. The Company may hold funds with financial institutions in excess of the FDIC insured amount, however, the Company has not experienced any losses in such accounts and management believes it is not exposed to any significant credit risk on cash and cash equivalents.
Restricted Cash	Restricted Cash Restricted cash includes proceeds of the Original Series B Preferred Stock offering held in escrow and included, through the termination of the Indentures (as defined in Note 7: Notes Payable) on October 2, 2017, amounts held for the express purposes of paying principal, interest and related fees on the Runoff Notes (as defined in Note 7: Notes Payable) pursuant to the terms of the Indentures.
Ceding Commission Expense	Ceding Commission Expense The Company is required to pay a ceding commission to certain primary insurers pursuant to certain reinsurance agreements.
Losses and Loss Adjustment Reserves	Losses and Loss Adjustment Reserves The losses and loss adjustment reserves include case basis estimates of reported losses and supplemental amounts for incurred but not reported (“IBNR”) losses. A default is considered the incident (e.g., the failure to make timely payment of mortgage payments) that may give rise to a claim for mortgage insurance. In establishing the losses and loss adjustment reserve, the Company based its estimates primarily on the ceded loss and loss adjustment reserves as provided by the primary mortgage guaranty carriers. WMMRC has recorded reserves at the ceded case reserves and IBNR loss levels established and reported by the primary mortgage guaranty carriers as of March 31, 2018 and December 31, 2017, respectively. Management believes that the recorded aggregate liability for unpaid losses and loss adjustment expenses at period end represents the Company’s best estimate, based upon the available data, of the amount necessary to cover the current cost of losses. However, due to the inherent uncertainty arising from fluctuations in the persistency rate of mortgage insurance claims, the Company’s size and lack of prior operating history, external factors such as future changes in regional or national economic conditions, judicial decisions, federal and state legislation related to mortgage restructuring and foreclosure restrictions, claims denials and coverage rescissions by primary carriers and other factors beyond the Company’s control, it is not presently possible to determine whether actual loss experience will conform to the assumptions used in determining the estimated amounts for such liability at the balance sheet date. Accordingly, the ultimate liability could be significantly higher or lower, as the case may be, than the amount indicated in the financial statements and there can be no assurance that the reserve amounts recorded will be sufficient. As adjustments to these estimates become necessary, such adjustments are reflected in current operations
Loss Contract Reserve	Loss Contract Reserve A loss contract reserve relating to contractual obligations of WMMRC was established at March 19, 2012 as a result of applying fresh start accounting and in compliance with Accounting Standards Codification (“ASC”) 805-10-55-21- Broad Transactions, which defines a loss contract as “a contract in which the unavoidable costs of meeting the obligation under the contract exceed the economic benefits expected to be received under it.” The value of this reserve is analyzed quarterly and is adjusted accordingly. The adjustment (if any) to the reserve produces an expense or contra-expense in the condensed consolidated statements of operations.
Derivatives	Derivatives We evaluate our convertible debt, options, warrants or other contracts to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted. This accounting treatment requires that the carrying amount of embedded derivatives be marked-to-market at each balance sheet date and carried at fair value. In the event that the fair value is recorded as a liability, the change in fair value during the period is recorded in the Statement of Operations as either income or expense. If an embedded derivative is no longer required to be separately accounted for due to conversion, exercise or modification to the terms of an instrument, the derivative is marked to fair value at the conversion, exercise or modification date and then the related fair value is reclassified to equity. In circumstances where the embedded conversion option in a convertible instrument is required to be bifurcated and there are also other embedded derivative instruments in the convertible instrument that are required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument. The classification of financial instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. Equity instruments that are initially classified as equity that become subject to reclassification are reclassified to liability at the fair value of the instrument on the reclassification date. Management must determine whether an instrument (or an embedded feature) is indexed to our stock. An entity should use a two-step approach to evaluate whether an equity-linked financial instrument (or embedded feature) is indexed to its own stock, including evaluating the instrument’s contingent exercise and settlement provisions. The application of this exercise could affect the accounting for (i) certain freestanding warrants that contain exercise price adjustment features or contain contingently puttable cash settlement options, if any, and (ii) convertible notes containing anti-dilution protections and/or exercise price adjustment features. The Company had recorded a derivative embedded conversion feature as a result of the issuance of the Original Series B Preferred Stock which was adjusted to its fair value as determined using Level 3 inputs described above under Fair Value Measurement. The change in fair value of the derivative embedded conversion feature was calculated at each reporting date and recorded as other income or other expense on the statement of operations. As a result of the Series B Amendment, the embedded conversion feature was modified, and the derivative was marked to fair value at December 31, 2017 and then the related fair value was reclassified to equity in accordance with ASC 815-15-35-4 - Embedded Conversion Option that No Longer Meets Bifurcation Criteria, as more fully described in Note 9: Capital Stock and Derivative Instruments.
Other Liabilities	Other Liabilities At March 31, 2018, the total balance of $16.9 million of other liabilities is comprised of $8.3 million of accrued fees relating to the Original Series B Preferred Stock offering and an accrual for professional fees and recurring business expenses currently payable of approximately $8.6 million. At December 31, 2017, the total balance of $16.3 million of other liabilities is comprised of $8.3 million of accrued fees relating to the Original Series B Preferred Stock offering, $2.5 million related to an extension of the escrow agreement related to the Series B Preferred Stock, an accrual for professional fees and recurring business expenses of approximately $4.7 million and $0.8 million of accrued cash dividends relating to the Original Series B Preferred Stock. The accrued fees would be paid in the event of a Qualified Acquisition, as more fully described in Note 6: Service Agreements and Related Party Transactions.
Comprehensive Income	Comprehensive Income The Company has no comprehensive income other than the net income disclosed in the condensed consolidated statement of operations.
Net Income Per Common Share	Net Income Per Common Share In calculating earnings per share, the Company follows the two-class method, which distinguishes between the classes of securities based on the proportionate participation rights of each security type in the Company's undistributed income. The Series A Preferred Stock and the Series B Preferred Stock are treated as one class for purposes of applying the two-class method, because they have substantially equal rights and share equally on an as converted basis with respect to income available to WMIH common stockholders. Basic net income per WMIH common share is computed by dividing net income attributable to WMIH’s common stockholders by the weighted-average number of common shares outstanding for the period after subtracting the weighted-average of any unvested restricted shares outstanding, as these are subject to repurchase. Basic net income attributable to common stockholders is computed by deducting preferred dividends and the basic calculation of undistributed earnings attributable to participating securities from net income. Diluted net income per WMIH common share is computed by dividing net income attributable to WMIH’s common stockholders by the weighted-average number of common shares outstanding during the period after subtracting the weighted-average of any unvested restricted shares outstanding, as these are subject to repurchase, and adding any potentially dilutive WMIH common stock equivalents outstanding during the period. Diluted net income attributable to common stockholders is computed by deducting preferred dividends and the diluted calculation of undistributed earnings attributable to participating securities from net income. If common stock equivalents exist, in periods where there is a net loss, diluted net loss per common share would be equal to or less than basic net loss per common share, since the effect of including any common stock equivalents would be antidilutive.
Equity Based Compensation	Equity-Based Compensation On May 22, 2012, WMIH’s Board of Directors (the “Board” or “Board of Directors”) approved the Company’s 2012 Long-Term Incentive Plan (the “2012 Plan”) so that awards of restricted stock could be made to its non-employee directors and to have a plan in place for awards of equity based compensation to executives and others in connection with the Company’s operations and future strategic plans. A total of 2.0 million shares of WMIH’s common stock were initially reserved for future issuance under the 2012 Plan, which became effective upon the Board approval on May 22, 2012. On February 10, 2014, the Board approved and adopted a First Amendment to the 2012 Plan, pursuant to which the number of shares of WMIH’s common stock reserved and available for grants under the 2012 Plan was increased from 2.0 million shares to 3.0 million shares, and the terms of the 2012 Plan were modified to permit such an increase through action of the Board, except when stockholder approval is necessary to comply with any applicable law, regulation or rule of any stock exchange on which WMIH’s shares are listed, quoted or traded. On February 25, 2015, the number of shares authorized and available for awards under the 2012 Plan was increased from 3.0 million to 12.0 million shares of WMIH’s common stock, subject to approval of stockholders of WMIH. This approval was received at WMIH’s Annual Meeting of Stockholders on April 28, 2015. The 2012 Plan provides for the granting of restricted shares and other cash and share based awards. The value of restricted stock is generally determined using the fair market value determined to be the trading price at the close of business on the respective date the awards were granted.
Income Taxes	Income Taxes The Company follows the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future income tax consequences attributable to differences between the carrying amounts and tax bases of assets and liabilities and losses carried forward and tax credits. Deferred tax assets and liabilities are measured using enacted tax rates and laws applicable to the years in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. A valuation allowance is provided to the extent that it is more likely than not that deferred tax assets will not be realized. The Company recognizes the financial statement effects of a tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Penalties and interest, of which there are none, would be reflected in income tax expense. Tax years are open to the extent the Company has net operating loss (“NOL”) carry-forwards available to be utilized currently. On December 22, 2017, the Tax Cuts and Jobs Act, which reforms U.S. Tax legislation and related laws, was signed into law. One of the provisions of the new tax law reduces the Company’s U.S. federal corporate income tax rate from 35% to 21%. Our deferred tax assets, although fully reserved, have been revalued at the lower rate beginning in 2017. The Company continues to evaluate the impact of the new tax law on its financial condition and results of operations.
Dividend Policy	Dividend Policy WMIH has paid no dividends on its common stock on or after the Effective Date and currently has no plans to pay a dividend on its common stock. WMIH has paid $1.0 million and $18.0 million of cash dividends on its Series B Preferred Stock for the three months ended March 31, 2018 and the year ended December 31, 2017, respectively. Additionally, WMIH has accrued unpaid and undeclared cash dividends of zero and $0.8 million, as of March 31, 2018 and December 31, 2017, respectively.
New Accounting Pronouncements	New Accounting Pronouncements The Company has reviewed new accounting pronouncements issued between March 2, 2018, the filing date of our most recent Form 10-K, and the filing date of this Form 10-Q, and has determined that no pronouncements issued are relevant to the Company, and/or have a material impact on the Company’s consolidated financial position, results of operations or disclosure requirements.
Fixed Maturities [Member]
Fixed-Maturity Securities	Fixed-Maturity Securities Fixed-maturity securities consist of U.S. Treasury securities, obligations of U.S. government sponsored agencies and domestic and foreign corporate debt securities. Fixed-maturity securities held in trust are for the benefit of the primary insurers as more fully described in Note 3: Insurance Activity. Investments in fixed-maturity securities are reported at their estimated fair values and are classified as trading securities in accordance with applicable accounting guidance. Realized gains and losses on the sale of fixed-maturity securities are determined using the specific identification method and are reported as a component of net investment income within the condensed consolidated statement of operations.

Insurance Activity (Tables)

Insurance Activity (Tables)	3 Months Ended
	Mar. 31, 2018
Insurance [Abstract]
Schedule of Premiums Assumed and Earned	Premiums assumed and earned are as follows for the periods ended March 31, 2018 and 2017, respectively: Three months ended March 31, 2018 Three months ended March 31, 2017 Premiums (released) assumed $ (16 ) $ 205 Change in unearned premiums 39 225 Premiums earned $ 23 $ 430
Components of Liability for Losses and Loss Adjustment Reserves	The components of the liability for losses and loss adjustment reserves are as follows as of March 31, 2018 and December 31, 2017, respectively: March 31, 2018 December 31, 2017 Case-basis reserves $ 12 $ 151 IBNR reserves 1 1 Premium deficiency reserves 395 322 Total losses and loss adjustment reserves $ 408 $ 474
Summary of Losses and Loss Adjustment Reserve Activity	Losses and loss adjustment reserve activity are as follows for the three months ended March 31, 2018 and the year ended December 31, 2017, respectively: Three months ended March 31, 2018 Year ended December 31, 2017 Balance at beginning of period $ 474 $ 811 Incurred - prior periods 62 19 Paid or terminated - prior periods (128 ) (356 ) Total losses and loss adjustment reserves $ 408 $ 474

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2018
Investments Debt And Equity Securities [Abstract]
Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Estimated Fair Values of Fixed-Maturity Securities	The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of total fixed-maturity securities and total fixed-maturity securities held in trust at March 31, 2018, are as follows: March 31, 2018 Class of securities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Obligations of U.S. government sponsored enterprises $ 2,250 $ — $ (8 ) $ 2,242 Corporate debt securities 917 — (6 ) 911 Total fixed-maturity securities 3,167 — (14 ) 3,153 Less total unrestricted fixed-maturity securities 2,917 — (13 ) 2,904 Total fixed-maturity securities held in trust $ 250 $ — $ (1 ) $ 249 The amortized cost, gross unrealized gains, gross unrealized losses and estimated fair values of total fixed-maturity securities and total fixed-maturity securities held in trust at December 31, 2017, are as follows: December 31, 2017 Class of securities: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Obligations of U.S. government sponsored enterprises $ 2,249 $ — $ (10 ) $ 2,239 Corporate debt securities 1,425 — (4 ) 1,421 Total fixed-maturity securities 3,674 — (14 ) 3,660 Less total unrestricted fixed-maturity securities 2,151 — (9 ) 2,142 Total fixed-maturity securities held in trust $ 1,523 $ — $ (5 ) $ 1,518
Schedule of Amortized Cost and Estimated Fair Value of Fixed-Maturity Securities by Contractual Maturity	Amortized cost and estimated fair value of fixed-maturity securities at March 31, 2018 by contractual maturity are as follows: Amortized Cost Estimated Fair Value Maturity in: 2018 $ 3,167 $ 3,153 Total fixed-maturity securities $ 3,167 $ 3,153
Summary of Net Investment Income	Net investment income for the three months ended March 31, 2018 and 2017, respectively, is summarized as follows: Three months ended March 31, 2018 Three months ended March 31, 2017 Investment income: Amortization of premium or discount on fixed-maturity securities $ (7 ) $ (31 ) Investment income on fixed-maturity securities 17 178 Interest income on cash and cash equivalents 2,271 1,014 Realized net (loss) from sale of investments (4 ) (2 ) Unrealized (loss) on cash equivalents held at period end (105 ) — Unrealized (loss) gain on trading securities held at period end (2 ) 21 Net investment income $ 2,170 $ 1,180
Schedule of Investments in Accordance with Fair Value Measurement	The following table shows how the Company’s investments are categorized in accordance with fair value measurement, as of March 31, 2018: March 31, 2018 Level 1 Level 2 Level 3 Total Class of securities: Obligations of U.S. government sponsored enterprises 997 1,245 — 2,242 Corporate debt securities 911 — — 911 Total fixed-maturity securities 1,908 1,245 — 3,153 Money market funds 28,684 — — 28,684 Total $ 30,592 $ 1,245 $ — $ 31,837 The following table shows how the Company’s investments are categorized in accordance with fair value measurement, as of December 31, 2017: December 31, 2017 Level 1 Level 2 Level 3 Total Class of securities: Obligations of U.S. government sponsored enterprises 995 1,244 — 2,239 Corporate debt securities 1,421 — — 1,421 Total fixed-maturity securities 2,416 1,244 — 3,660 Money market funds 30,780 — — 30,780 Total $ 33,196 $ 1,244 $ — $ 34,440
Summary of Transfers between Level 1 and Level 2	January 1, 2018 to March 31, 2018 January 1, 2017 to December 31, 2017 Transfers Transfers Transfers Transfers Class of securities: Obligations of US government sponsored enterprises $ — $ — $ — $ 995 Corporate debt securities — — — 1,421 Total transfers $ — $ — $ — $ 2,416

Capital Stock and Derivative 24

Capital Stock and Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Equity [Abstract]
Schedule of Unamortized Value of Restricted Stock	The unamortized value of $5.5 million at March 31, 2018, if all are ultimately vested, would be amortized according to the following schedule. The fair value of the Exec Grants will vest and be recognized on the date of the consummation of a Qualified Acquisition. Additionally, the Exec Additional Shares would be issued and immediately vest on the date of the consummation of a Qualified Acquisition. Amortization Schedule (in thousands) March 31, 2018 unamortized dollar value 2nd quarter 2018 $ 71 3rd quarter 2018 71 4th quarter 2018 71 1st quarter 2019 66 2nd quarter 2019 36 3rd quarter 2019 36 4th quarter 2019 36 1st quarter 2020 31 Unamortized fair-value - subject to vesting schedule 418 Unamortized fair-value - event dependent 5,049 Total unamortized dollar value $ 5,467
Summary of Company's Restricted Stock Award Activity	A summary of WMIH’s restricted stock award activity for the three months ended March 31, 2018 and year ended December 31, 2017 is presented below: Number of restricted stock awards outstanding Weighted-average grant date fair value Aggregate fair value (in thousands) Outstanding—January 1, 2017 6,380,800 2.1306 13,595 Restricted stock awards granted during 2017 333,332 1.2000 400 Outstanding—December 31, 2017 6,714,132 2.0844 13,995 Restricted stock awards granted during 2018 — — — Outstanding—March 31, 2018 6,714,132 $ 2.0844 $ 13,995
Schedule of Vesting Shares Subject to Repurchase	The Exec Grants vest upon future events, and are not time specific, therefore, they are listed as event dependent. The shares subject to repurchase at March 31, 2018 will vest, assuming circumstances remain unchanged, according to the following schedule: Vesting schedule of shares subject to repurchase March 31, 2018 unvested shares 1st quarter 2019 167,848 2nd quarter 2019 — 3rd quarter 2019 — 4th quarter 2019 — 1st quarter 2020 111,108 Total unvested shares - subject to vesting schedule 278,956 Unvested shares - event dependent 3,555,556 Total unvested shares 3,834,512
Summary of WMIH's Restricted Shares Issued and Subject to Repurchase	A summary of WMIH’s restricted shares issued and subject to repurchase as of March 31, 2018 and December 31, 2017 is presented below: Vesting schedule of shares subject to repurchase Unvested shares Shares subject to repurchase—January 1, 2017 4,039,591 Shares issued subject to vesting during 2017 333,332 Shares vested during 2017 (319,283 ) Shares subject to repurchase—December 31, 2017 4,053,640 Shares issued subject to vesting during 2018 — Shares vested during 2018 (219,128 ) Shares subject to repurchase—March 31, 2018 3,834,512

Net Income (Loss) Per Common 25

Net Income (Loss) Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Calculation of Basic Net (Loss) Income Per Share	The following table presents the calculation of basic net (loss) income per share for periods presented: (in thousands, except per share data): Three months ended March 31, 2018 Three months ended March 31, 2017 Numerator for basic net (loss) income per share: Net (loss) income $ (5,583 ) $ 17,789 Less: Series B preferred stock dividends (200 ) (4,500 ) Less: undistributed earnings attributed to participating securities (basic calculation) — (8,445 ) Basic net (loss) income attributable to common stockholders $ (5,783 ) $ 4,844 Denominator for basic net (loss) income per share: Weighted-average shares outstanding 206,714,132 206,380,800 Weighted-average unvested restricted shares outstanding (4,021,988 ) (3,956,831 ) Denominator for basic net (loss) income per share 202,692,144 202,423,969 Basic net (loss) income per share attributable to common stockholders $ (0.03 ) $ 0.02
Calculation of Diluted Net (Loss) Income Per Share	The following table presents the calculation of diluted net (loss) income per share for periods presented: Three months ended March 31, 2018 Three months ended March 31, 2017 Numerator for diluted net (loss) income per share: Net (loss) income $ (5,583 ) $ 17,789 Less: Series B preferred stock dividends (200 ) (4,500 ) Less: undistributed earnings attributed to participating securities (diluted calculation) — (8,428 ) Diluted net (loss) income attributable to common stockholders $ (5,783 ) $ 4,861 Denominator for diluted net (loss) income per share: Weighted-average shares outstanding 206,714,132 206,380,800 Weighted-average unvested restricted shares outstanding (4,021,988 ) (3,956,831 ) Effect of dilutive potential shares — 11,199,990 Denominator for diluted net (loss) income per share 202,692,144 213,623,959 Diluted net (loss) income per share attributable to common stockholders $ (0.03 ) $ 0.02
Schedule of Potential Dilutive Common Shares	The following table summarizes shares subject to exercise or vesting conditions as more fully described in Note 9: Capital Stock and Derivative Instruments. These shares could potentially be dilutive in future periods if we realize net income attributable to common and participating stockholders and the contingent or unvested stock is converted to WMIH common stock. The cash payment of $84.4 million, which would be received upon exercise of the warrants, has not been considered as an offset to the dilutive shares under warrants outstanding below. The Warrant Exchange, which is conditioned upon the closing of the Merger and which would reduce the number of warrants received from 61,400,000 shares to 21,197,619 shares, is not reflected below. Potential dilution to common Minimum shares Maximum shares Restricted shares subject to vesting 3,834,512 3,834,512 Series A Preferred Stock 10,065,629 10,065,629 Warrants outstanding 61,400,000 61,400,000 Maximum number of restricted shares to be issued if Nationstar Transaction is consummated — 1,015,872 Series B Preferred Stock ($1.35 conversion) 444,444,444 444,444,444 Potential common shares issued to satisfy Series B Preferred Stock dividends (full term) — 64,285,714 Potential common shares issued to satisfy Series B Preferred Stock acquisition conversion payment — 11,428,572 Potential dilutive shares if converted to common 519,744,585 596,474,743

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Summary of Change in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table shows the change in Level 3 assets and liabilities measured at fair value on a recurring basis for the three months ended March 31, 2018 and the year ended December 31, 2017: Derivative asset embedded conversion feature (in thousands) Balance, January 1, 2017 $ 80,651 Gain on change in fair value 28,242 Reclassification of derivative asset to equity (108,893 ) Balance, December 31, 2017 and March 31, 2018 $ —

The Company and its Subsidiar27

The Company and its Subsidiaries - Additional Information (Detail) $ / shares in Units, $ in Billions	Feb. 12, 2018USD ($)$ / sharesshares	Feb. 02, 2018	Dec. 11, 2017	Mar. 31, 2018Insurers$ / sharesshares	Dec. 31, 2017$ / sharesshares	Dec. 31, 2016shares	May 11, 2015$ / sharesshares	Jan. 05, 2015shares	Jan. 30, 2014shares	Mar. 19, 2012$ / sharesshares
Related Party Transaction [Line Items]
Plan Effective Date				Mar. 19, 2012
Common stock, par value | $ / shares				$ 0.00001	$ 0.00001		$ 0.00001			$ 0.00001
Common stock, shares authorized				3,500,000,000	3,500,000,000		3,500,000,000			500,000,000
Preferred stock, shares authorized				10,000,000			10,000,000			5,000,000
Convertible preferred stock, par value | $ / shares				$ 0.00001			$ 0.00001			$ 0.00001
Common stock, shares issued	21,197,619			206,714,132	206,714,132
Common stock, shares outstanding				206,714,132	206,714,132
WMMRC [Member]
Related Party Transaction [Line Items]
Number of primary mortgage insurers | Insurers				7
Reinsurance agreement termination date		Feb. 2, 2018
Convertible Series A Preferred Stock [Member]
Related Party Transaction [Line Items]
Convertible preferred stock, par value | $ / shares				$ 0.00001	$ 0.00001
Convertible preferred stock, shares issued				1,000,000	1,000,000				1,000,000
Convertible preferred stock, shares outstanding				1,000,000	1,000,000
Redeemable Convertible Series B Preferred Stock [Member]
Related Party Transaction [Line Items]
Preferred stock, redemption date				Oct. 5, 2019
Preferred stock dividend rate					3.00%
Preferred stock, shares issued				600,000	600,000			600,000
Preferred stock, shares outstanding				600,000	600,000	600,000
Amendment Effective Date				Jan. 5, 2018
Redeemable Convertible Series B Preferred Stock [Member] | Amended and Restated Certificate of Incorporation [Member]
Related Party Transaction [Line Items]
Preferred stock, redemption date				Oct. 5, 2019
Preferred stock dividend rate				5.00%
Redeemable Convertible Series B Preferred Stock [Member] | Certificate of Amendment [Member]
Related Party Transaction [Line Items]
Amendment Effective Date			Jan. 5, 2018
WMIH Common Stock [Member]
Related Party Transaction [Line Items]
Common stock, shares issued	21,197,619
Merger Agreement [Member]
Related Party Transaction [Line Items]
Merger agreement date	Feb. 12, 2018
Share price, without interest | $ / shares	$ 18
Aggregate amount of merger consideration | $	$ 1.2
Merger Agreement [Member] | WMIH Common Stock [Member]
Related Party Transaction [Line Items]
Stock issued, fully paid and nonassessable shares	12.7793
Common stock, par value | $ / shares	$ 0.00001

Significant Accounting Polici28

Significant Accounting Policies - Additional Information (Detail) - USD ($) shares in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017		Feb. 25, 2015	Feb. 10, 2014	May 22, 2012
Significant Accounting Policies [Line Items]
Plan Effective Date	Mar. 19, 2012
Unearned premiums	$ 0		$ 39,000	[1]
Premium deficiency reserves	400,000		300,000
Other liabilities	16,893,000		16,303,000	[1]
Accrued professional fees	8,600,000		$ 4,700,000
Comprehensive income	$ 0
Income tax at the federal statutory rate	21.00%		35.00%
Amount of dividends paid on or after Effective Date	$ 0
Preferred stock dividends paid	1,000,000	$ 4,500,000
2012 Plan [Member]
Significant Accounting Policies [Line Items]
Common stock reserved for future issuance					12	3	2
Redeemable Convertible Series B Preferred Stock [Member]
Significant Accounting Policies [Line Items]
Accrued fees	8,300,000		$ 8,300,000
Accrued fees for extension of escrow agreement			2,500,000
Accrued cash dividends			800,000
Additional accrued preferred stock dividends	0		800,000
Preferred stock dividends paid	$ 1,000,000		$ 18,000,000
[1]	Balances derived from audited financial statements as of December 31, 2017.

Insurance Activity - Additional

Insurance Activity - Additional Information (Detail) - USD ($)	Aug. 31, 2009	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Effects of Reinsurance [Line Items]
Quoted percentage to share base	50.00%
Balances in loss contract reserve		$ 0		$ 0
Decreased value of loss contract reserve		$ 0	$ 900,000	$ 0
WMMRC [Member]
Effects of Reinsurance [Line Items]
Second loss layer risk percentage of range minimum	5.00%
Second loss layer risk percentage of range maximum	10.00%
First loss layer risk percentage of range minimum	4.00%
First loss layer risk percentage of range maximum	5.00%
Minimum period of reinsurance agreements		5 years
Maximum period of reinsurance agreements		10 years
WMMRC [Member] | Minimum [Member] | Credit Concentration Risk | Liabilities, Total [Member]
Effects of Reinsurance [Line Items]
Net of ceding commission, percentage	25.00%
WMMRC [Member] | Maximum [Member] | Credit Concentration Risk | Liabilities, Total [Member]
Effects of Reinsurance [Line Items]
Net of ceding commission, percentage	40.00%

Insurance Activity - Schedule o

Insurance Activity - Schedule of Premiums Assumed and Earned (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Insurance [Abstract]
Premiums (released) assumed	$ (16)	$ 205
Change in unearned premiums	39	225
Premiums earned	$ 23	$ 430

Insurance Activity - Components

Insurance Activity - Components of Liability for Losses and Loss Adjustment Reserves (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017		Dec. 31, 2016
Effects of Reinsurance [Line Items]
Total losses and loss adjustment reserves	$ 408	$ 474	[1]	$ 811
Case-basis reserves [Member]
Effects of Reinsurance [Line Items]
Total losses and loss adjustment reserves	12	151
IBNR reserves [Member]
Effects of Reinsurance [Line Items]
Total losses and loss adjustment reserves	1	1
Premium deficiency reserves [Member]
Effects of Reinsurance [Line Items]
Total losses and loss adjustment reserves	$ 395	$ 322
[1]	Balances derived from audited financial statements as of December 31, 2017.

Insurance Activity - Summary of

Insurance Activity - Summary of Losses and Loss Adjustment Reserve Activity (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018		Dec. 31, 2017
Liability For Unpaid Claims And Claims Adjustment Expense Net [Abstract]
Balance at beginning of period	$ 474	[1]	$ 811
Incurred - prior periods	62		19
Paid or terminated - prior periods	(128)		(356)
Total losses and loss adjustment reserves	$ 408		$ 474	[1]
[1]	Balances derived from audited financial statements as of December 31, 2017.

Investment Securities - Schedul

Investment Securities - Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Estimated Fair Values of Fixed-Maturity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total fixed-maturity securities, Amortized Cost	$ 3,167	$ 3,674
Total fixed-maturity securities, Gross Unrealized Losses	(14)	(14)
Total fixed-maturity securities, Estimated Fair Value	3,153	3,660
Unrestricted Fixed-Maturity Securities [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total fixed-maturity securities, Amortized Cost	2,917	2,151
Total fixed-maturity securities, Gross Unrealized Losses	(13)	(9)
Total fixed-maturity securities, Estimated Fair Value	2,904	2,142	[1]
Fixed-Maturity Securities Held in Trust [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total fixed-maturity securities, Amortized Cost	250	1,523
Total fixed-maturity securities, Gross Unrealized Losses	(1)	(5)
Total fixed-maturity securities, Estimated Fair Value	249	1,518	[1]
Obligations of U.S. Government Sponsored Enterprises [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total fixed-maturity securities, Amortized Cost	2,250	2,249
Total fixed-maturity securities, Gross Unrealized Losses	(8)	(10)
Total fixed-maturity securities, Estimated Fair Value	2,242	2,239
Corporate Debt Securities [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total fixed-maturity securities, Amortized Cost	917	1,425
Total fixed-maturity securities, Gross Unrealized Losses	(6)	(4)
Total fixed-maturity securities, Estimated Fair Value	$ 911	$ 1,421
[1]	Balances derived from audited financial statements as of December 31, 2017.

Investment Securities - Sched34

Investment Securities - Schedule of Amortized Cost and Estimated Fair Value of Fixed-Maturity Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Investments Debt And Equity Securities [Abstract]
Amortized Cost, 2018	$ 3,167
Total fixed-maturity securities, Amortized Cost	3,167	$ 3,674
Estimated Fair Value, 2018	3,153
Total fixed-maturity securities, Estimated Fair Value	$ 3,153	$ 3,660

Investment Securities - Summary

Investment Securities - Summary of Net Investment Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Investment income:
Amortization of premium or discount on fixed-maturity securities	$ (7)	$ (31)
Realized net (loss) from sale of investments	(4)	(2)
Unrealized (loss) gain on trading securities held at period end	(2)	21
Net investment income	2,170	1,180
Fixed Maturities [Member]
Investment income:
Amortization of premium or discount on fixed-maturity securities	(7)	(31)
Investment income on fixed-maturity securities	17	178
Cash and Cash Equivalents [Member]
Investment income:
Interest income on cash and cash equivalents	2,271	$ 1,014
Cash Equivalents [Member]
Investment income:
Unrealized (loss) on cash equivalents held at period end	$ (105)

Investment Securities - Sched36

Investment Securities - Schedule of Investments in Accordance with Fair Value Measurement (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Class of securities:
Total fixed-maturity securities, Estimated Fair Value	$ 3,153	$ 3,660
Total investments fair value	31,837	34,440
Money Market Funds [Member]
Class of securities:
Money market funds	28,684	30,780
Level 1
Class of securities:
Total fixed-maturity securities, Estimated Fair Value	1,908	2,416
Total investments fair value	30,592	33,196
Level 1 | Money Market Funds [Member]
Class of securities:
Money market funds	28,684	30,780
Level 2
Class of securities:
Total fixed-maturity securities, Estimated Fair Value	1,245	1,244
Total investments fair value	1,245	1,244
Obligations of U.S. Government Sponsored Enterprises [Member]
Class of securities:
Total fixed-maturity securities, Estimated Fair Value	2,242	2,239
Obligations of U.S. Government Sponsored Enterprises [Member] | Level 1
Class of securities:
Total fixed-maturity securities, Estimated Fair Value	997	995
Obligations of U.S. Government Sponsored Enterprises [Member] | Level 2
Class of securities:
Total fixed-maturity securities, Estimated Fair Value	1,245	1,244
Corporate Debt Securities [Member]
Class of securities:
Total fixed-maturity securities, Estimated Fair Value	911	1,421
Corporate Debt Securities [Member] | Level 1
Class of securities:
Total fixed-maturity securities, Estimated Fair Value	$ 911	$ 1,421

Investment Securities - Additio

Investment Securities - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Transfers from Level 2 to Level 1	$ 0	$ 2,416

Investment Securities - Summa38

Investment Securities - Summary of Transfers between Level 1 and Level 2 (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Transfers from Level 2 to Level 1	$ 0	$ 2,416
Obligations of U.S. Government Sponsored Enterprises [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Transfers from Level 2 to Level 1		995
Corporate Securities [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Transfers from Level 2 to Level 1		$ 1,421

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Mar. 19, 2012
Income Taxes [Line Items]
Net (loss) income attributable to common and participating stockholders	$ (5,783,000)	$ 13,289,000
Percentage of net operating loss carry forwards	100.00%
Valuation allowance recorded to be reduce to	0.00%
Income tax expense or benefit	$ 0			$ 0
Income tax at the federal statutory rate	21.00%			35.00%
Income tax paid	$ 0			$ 0
Reduction of deferred tax asset relating to NOL carry-forward	$ 842,900,000
Valuation allowance equal to net deferred federal income tax asset	100.00%			100.00%
Abandoned stock					$ 8,400,000,000
Available and utilizable NOL carry forward				$ 6,000,000,000
NOLs expiration date	2,031
Capital loss carryforward subject to expiration year	2,018			2,018
Reserves for uncertain federal income tax positions	$ 0
Income tax interest income, expense or penalties	$ 0			$ 0
Income tax examination, year under examination	2,011
Capital Loss Subject to Expiration in 2018
Income Taxes [Line Items]
Capital loss carryforward	$ 1,600,000			$ 1,600,000
Scenario Plan [Member]
Income Taxes [Line Items]
Income tax at the federal statutory rate			21.00%

Service Agreements and Relate40

Service Agreements and Related Party Transactions - Additional Information (Detail)	Feb. 12, 2018USD ($)	Oct. 14, 2014Directors	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Related Party Transaction [Line Items]
Payment of stock offering fee			$ 2,500,000
WMMRC [Member]
Related Party Transaction [Line Items]
Administrative services agreement fee			110,000
Lawsuit against number of former directors | Directors		16
Litigation settlement amount							$ 37,000,000
Litigation settlement reserve for reimbursement of contingent fees and expenses							3,000,000
WMMRC [Member] | Investment Management Agreement And Administrative Services Agreement [Member]
Related Party Transaction [Line Items]
Expenses incurred under the agreements			$ 300,000	$ 300,000
WMMRC [Member] | Investment Management Agreement [Member]
Related Party Transaction [Line Items]
Description of fee			fee equal to the product of (x) the ending dollar amount of assets under management during the calendar month in question and (y) .002 divided by 12.
WMI Holdings Corp [Member]
Related Party Transaction [Line Items]
Litigation settlement reserve for reimbursement of contingent fees and expenses			$ 1,500,000
Other income					$ 123,000	$ 123,000	7,800,000
Income from litigation proceeds			$ 0
KKR Capital Markets LLC [Member] | Non-Exclusive Financial Advisor [Member]
Related Party Transaction [Line Items]
Transaction fee receive with respect to merger	$ 25,000,000
KKR Capital Markets LLC [Member] | Placement Agent [Member]
Related Party Transaction [Line Items]
Bridge financing facility, commitment fee percentage	0.25%
Fees payable for arranging bridge facility	$ 6,875,000
KKR Capital Markets LLC [Member] | Maximum [Member] | Placement Agent [Member]
Related Party Transaction [Line Items]
Bridge financing facility	$ 2,750,000,000
KKR Capital Markets LLC [Member] | Redeemable Convertible Series B Preferred Stock [Member]
Related Party Transaction [Line Items]
Payment of stock offering fee							8,250,000
Payment of additional deferred Fee							$ 8,250,000

Notes Payable - Additional Info

Notes Payable - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 19, 2012
13% Senior First Lien Notes [Member]
Debt Instrument [Line Items]
Issued aggregate principal amount		$ 110
Notes maturity date	Mar. 19, 2030
13% Senior Second Lien Notes [Member]
Debt Instrument [Line Items]
Issued aggregate principal amount		$ 20
Notes maturity date	Mar. 19, 2030

Financing Arrangements - Additi

Financing Arrangements - Additional Information (Detail) - DebtFinancing	Mar. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Number of debt financing arrangements in place	0	0

Capital Stock and Derivative 43

Capital Stock and Derivative Instruments - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Jun. 01, 2017	Jan. 05, 2015	Mar. 19, 2012	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017		Feb. 12, 2018	Jan. 05, 2018	Dec. 07, 2017	Dec. 31, 2016	Jun. 01, 2016	May 15, 2015	May 11, 2015	Jan. 30, 2014
Capital Stock Distribution [Line Items]
Common stock, shares authorized			500,000,000	3,500,000,000		3,500,000,000								3,500,000,000
Preferred stock, shares authorized			5,000,000	10,000,000										10,000,000
Common stock, par value			$ 0.00001	$ 0.00001		$ 0.00001								$ 0.00001
Preferred stock, par value			$ 0.00001	$ 0.00001										$ 0.00001
Conversion of shares														1
Warrants to purchase in aggregate, shares															61,400,000
Warrants expiration period				5 years
Warrants to purchase common stock, Issued				61,400,000		61,400,000		61,400,000
Common stock, shares issued				206,714,132		206,714,132		21,197,619
Registration right period				180 days
Escrow deposit		$ 598,500		$ 576,200		$ 578,900
Acquisition meaning				“Acquisition” means any acquisition by the Company (or any of its direct or indirect wholly-owned subsidiaries), in a single transaction or a series of transactions, whether by purchase, merger or otherwise, of all or substantially all of the assets of, or of 80% or more of the equity interests in, or a business line, unit or division of, any person.
Fixed conversion price of common stock									$ 1.35
Fair market value of embedded conversion feature, reclassed to equity						108,900
Changes in fair value					$ 18,029
Award vesting period				3 years
Number of additional Restricted Stock Awards Outstanding, Restricted stock awards granted				1,015,872
Unamortized value of unvested restricted share grant				$ 5,467		$ 3,500
Equity-based compensation				$ 102	140
Per share of unvested shares of common stock				$ 0.00001
Common stock, shares outstanding				206,714,132		206,714,132
Warrants to purchase common stock, outstanding				61,400,000		61,400,000
Exec Grants [Member]
Capital Stock Distribution [Line Items]
Share price				$ 2.25									$ 2.76
Restricted stock fair value				$ 5,000
Restricted stock price per share				$ 1.42
Chief Executive Officer [Member]
Capital Stock Distribution [Line Items]
Number of additional Restricted Stock Awards Outstanding, Restricted stock awards granted				507,936
Restricted stock award [Member]
Capital Stock Distribution [Line Items]
Amount of restricted stock grants	$ 400											$ 400
Share price	$ 1.20
Unvested shares				6,714,132		6,714,132					6,380,800
Number of Restricted Stock Awards Outstanding, Restricted stock awards granted	333,332			0		333,332
Restricted stock award [Member] | Exec Grants [Member]
Capital Stock Distribution [Line Items]
Amount of restricted stock grants				$ 4,000									$ 9,800
Restricted shares subject to repurchase [Member]
Capital Stock Distribution [Line Items]
Unvested shares				3,834,512		4,053,640					4,039,591
Number of Restricted Stock Awards Outstanding, Restricted stock awards granted						333,332
Minimum [Member]
Capital Stock Distribution [Line Items]
Preferred stock liquidation preference per share				$ 10
Convertible Series A Preferred Stock [Member]
Capital Stock Distribution [Line Items]
Preferred stock, par value				$ 0.00001		$ 0.00001
Preferred stock, shares issued				1,000,000		1,000,000									1,000,000
Purchase price of convertible preferred stock maximum limit							[1]								$ 11,100
Preferred stock liquidation preference				The Series A Preferred Stock has rights substantially similar to those associated with WMIH’s common stock, with the exception of a liquidation preference, conversion rights and customary anti-dilution protections. The Series A Preferred Stock has a liquidation preference equal to the greater of (i) $10.00 per one million shares of Series A Preferred Stock plus declared but unpaid dividends on such shares and (ii) the amount that the holder would be entitled to in a relevant transaction had the Series A Preferred Stock been converted to common stock of WMIH.
Convertible preferred stock conversion price				$ 1.10
Preferred deemed dividend				$ 9,500
Preferred stock, shares outstanding				1,000,000		1,000,000
Redeemable Convertible Series B Preferred Stock [Member]
Capital Stock Distribution [Line Items]
Preferred stock liquidation preference				If the Series B Preferred Stock is redeemed or determined likely to be redeemed, the Company would be required to record a charge to earnings of approximately $96.3 million to accrete the value of the Series B Preferred Stock to the $600.0 million redemption value. As of March 31, 2018, the Company has determined that recording for accretion to the Series B Preferred Stock’s redemption value is not required.
Amendment effective term				18 months
Amendment Effective Date				Jan. 5, 2018
Minimum percentage of preferred stock beneficially to be owned by KKR funds and its affiliates for acquisition consent				50.00%
Preferred stock, shares issued		600,000		600,000		600,000
Preferred stock dividend rate calculated on interest rate		3.00%
Preferred stock, redemption date				Oct. 5, 2019
Payments to acquire businesses				$ 450,000
Preferred stock, shares outstanding				600,000		600,000					600,000
Preferred stock, redemption amount				$ 600,000
Preferred stock, accretion to redemption value				$ 96,300
Number of trading periods				20 days
Conversion ceiling price of common stock				$ 2.25
Amendment Date				Dec. 8, 2017
Conversion floor price of common stock				$ 1.75						$ 1.75
Fixed conversion price of common stock									$ 1.35
Derivative liability - embedded conversion feature		$ 66,200
Derivative asset - embedded conversion feature					98,700
Fair market value of embedded conversion feature, reclassed to equity						$ 108,900
Changes in fair value					$ (18,000)
Preferred stock conversion price per share				1.35
Redeemable Convertible Series B Preferred Stock [Member] | Exec Grants [Member]
Capital Stock Distribution [Line Items]
Subject to minimum conversion price per share of restricted stock				1.75
Minimum grant conversion price per share of restricted stock				1.75
Preferred stock conversion price per share				1.35
Redeemable Convertible Series B Preferred Stock [Member] | Derivative Asset [Member]
Capital Stock Distribution [Line Items]
Conversion floor price of common stock										1.75
Redeemable Convertible Series B Preferred Stock [Member] | Derivative Liability [Member]
Capital Stock Distribution [Line Items]
Conversion ceiling price of common stock										$ 2.25
Redeemable Convertible Series B Preferred Stock [Member] | Maximum [Member]
Capital Stock Distribution [Line Items]
Conversion ceiling price of common stock				$ 2.25
Common Stock [Member]
Capital Stock Distribution [Line Items]
Issuance of common stock, Shares			200,000,000
Warrant One [Member]
Capital Stock Distribution [Line Items]
Warrants to purchase common stock															30,700,000
Warrants to purchase common stock, exercise price															$ 1.32
Warrant Two [Member]
Capital Stock Distribution [Line Items]
Warrants to purchase common stock															30,700,000
Warrants to purchase common stock, exercise price															$ 1.43
WMIH Common Stock [Member]
Capital Stock Distribution [Line Items]
Common stock, shares issued								21,197,619
[1]	Balances derived from audited financial statements as of December 31, 2017.

Capital Stock and Derivative 44

Capital Stock and Derivative Instruments - Schedule of Unamortized Value of Restricted Stock (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Amortization Expense [Line Items]
Unamortized fair value subject to vesting schedule	$ 418
Unamortized fair-value - event dependent	5,049
Total unamortized dollar value	5,467	$ 3,500
2nd quarter 2018 [Member]
Amortization Expense [Line Items]
Unamortized fair value subject to vesting schedule	71
3rd quarter 2018 [Member]
Amortization Expense [Line Items]
Unamortized fair value subject to vesting schedule	71
4th quarter 2018 [Member]
Amortization Expense [Line Items]
Unamortized fair value subject to vesting schedule	71
1st quarter 2019 [Member]
Amortization Expense [Line Items]
Unamortized fair value subject to vesting schedule	66
2nd quarter 2019 [Member]
Amortization Expense [Line Items]
Unamortized fair value subject to vesting schedule	36
3rd quarter 2019 [Member]
Amortization Expense [Line Items]
Unamortized fair value subject to vesting schedule	36
4th quarter 2019 [Member]
Amortization Expense [Line Items]
Unamortized fair value subject to vesting schedule	36
1st quarter 2020 [Member]
Amortization Expense [Line Items]
Unamortized fair value subject to vesting schedule	$ 31

Capital Stock and Derivative 45

Capital Stock and Derivative Instruments - Summary of Company's Restricted Stock Award Activity (Detail) - Restricted stock award [Member] - USD ($) $ / shares in Units, $ in Thousands	Jun. 01, 2017	Mar. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Restricted Stock Awards Outstanding, Beginning balance		6,714,132	6,380,800
Number of Restricted Stock Awards Outstanding, Restricted stock awards granted	333,332	0	333,332
Number of Restricted Stock Awards Outstanding, Ending balance		6,714,132	6,714,132
Weighted Average Grant Date Fair Value, Beginning balance		$ 2.0844	$ 2.1306
Weighted Average Grant Date Fair Value, Restricted stock awards granted		0	1.2000
Weighted Average Grant Date Fair Value, Ending balance		$ 2.0844	$ 2.0844
Aggregate Fair Value, Beginning balance		$ 13,995	$ 13,595
Aggregate Fair Value, Restricted stock awards granted		0	400
Aggregate Fair Value, Ending balance		$ 13,995	$ 13,995

Capital Stock and Derivative 46

Capital Stock and Derivative Instruments - Schedule of Vesting Shares Subject to Repurchase (Detail) - Restricted shares subject to repurchase [Member] - shares	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Amortization Expense [Line Items]
Unvested shares	3,834,512	4,053,640	4,039,591
Total unvested shares - subject to vesting schedule	278,956
Unvested shares - event dependent	3,555,556
1st quarter 2019 [Member]
Amortization Expense [Line Items]
Unvested shares	167,848
1st quarter 2020 [Member]
Amortization Expense [Line Items]
Unvested shares	111,108

Capital Stock and Derivative 47

Capital Stock and Derivative Instruments - Summary of WMIH's Restricted Shares Issued and Subject to Repurchase (Detail) - Restricted shares subject to repurchase [Member] - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Restricted Stock Awards Outstanding, Beginning balance	4,053,640	4,039,591
Shares issued subject to vesting during the period		333,332
Shares vested during the period	(219,128)	(319,283)
Number of Restricted Stock Awards Outstanding, Ending balance	3,834,512	4,053,640

Pending Litigation - Additional

Pending Litigation - Additional Information (Detail)	Mar. 31, 2018Litigation
Loss Contingency [Abstract]
Pending legal proceedings or investigations	0

Restriction on Distribution o49

Restriction on Distribution of Net Assets from Subsidiary - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
WMMRC [Member]
Financial Receivables Impaired Or Restructured [Line Items]
Total net assets	$ 12.7	$ 13.1

Net Income (Loss) Per Common 50

Net Income (Loss) Per Common Share - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Feb. 12, 2018	Dec. 31, 2017
Earnings Per Share [Abstract]
Dilutive effects from equity instruments	0
Cash would be received upon exercise of warrants	$ 84.4
Warrants to purchase common stock, Issued	61,400,000	61,400,000	61,400,000
Common stock, shares issued	206,714,132	21,197,619	206,714,132

Net Income (Loss) Per Common 51

Net Income (Loss) Per Common Share - Calculation of Basic Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Numerator for basic net (loss) income per share:
Net (loss) income	$ (5,583)	$ 17,789	$ 25,882
Less: Series B preferred stock dividends	(200)	(4,500)
Less: undistributed earnings attributed to participating securities (basic calculation)		(8,445)
Basic net (loss) income attributable to common stockholders	$ (5,783)	$ 4,844
Denominator for basic net (loss) income per share:
Weighted-average shares outstanding	206,714,132	206,380,800
Weighted-average unvested restricted shares outstanding	(4,021,988)	(3,956,831)
Denominator for basic net (loss) income per share	202,692,144	202,423,969
Basic net (loss) income per share attributable to common stockholders	$ (0.03)	$ 0.02

Net Income (Loss) Per Common 52

Net Income (Loss) Per Common Share - Calculation of Diluted Net (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Numerator for diluted net (loss) income per share:
Net (loss) income	$ (5,583)	$ 17,789	$ 25,882
Less: Series B preferred stock dividends	(200)	(4,500)
Less: undistributed earnings attributed to participating securities (diluted calculation)		(8,428)
Diluted net (loss) income attributable to common stockholders	$ (5,783)	$ 4,861
Denominator for diluted net (loss) income per share:
Weighted-average shares outstanding	206,714,132	206,380,800
Weighted-average unvested restricted shares outstanding	(4,021,988)	(3,956,831)
Effect of dilutive potential shares		11,199,990
Denominator for diluted net (loss) income per share	202,692,144	213,623,959
Diluted net (loss) income per share attributable to common stockholders	$ (0.03)	$ 0.02

Net Income (Loss) Per Common 53

Net Income (Loss) Per Common Share - Schedule of Potential Dilutive Common Shares (Detail)	3 Months Ended
	Mar. 31, 2018shares
Minimum [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	519,744,585
Minimum [Member] | Series A Preferred Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	10,065,629
Minimum [Member] | Series B Redeemable Convertible Preferred Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	444,444,444
Maximum [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	596,474,743
Maximum [Member] | Series A Preferred Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	10,065,629
Maximum [Member] | Series B Redeemable Convertible Preferred Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	444,444,444
Maximum [Member] | Series B Preferred Stock Dividends [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	64,285,714
Maximum [Member] | Series B Preferred Stock Acquisition Conversion Payment [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	11,428,572
Restricted Shares Subject to Vesting [Member] | Minimum [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	3,834,512
Restricted Shares Subject to Vesting [Member] | Maximum [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	3,834,512
Warrants Outstanding [Member] | Minimum [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	61,400,000
Warrants Outstanding [Member] | Maximum [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	61,400,000
Restricted shares to be issued if Nationstar transaction is consummated [Member] | Maximum [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Potential dilutive shares if converted to common	1,015,872

Net Income (Loss) Per Common 54

Net Income (Loss) Per Common Share - Schedule of Potential Dilutive Common Shares (Parenthetical) (Detail)	Mar. 31, 2018$ / shares
Series B Redeemable Convertible Preferred Stock [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Preferred stock conversion price per share	$ 1.35

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Change in Level 3 Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Fair Value Disclosures [Abstract]
Beginning Balance	$ 80,651
Gain on change in fair value	28,242
Reclassification of derivative asset to equity	$ (108,893)

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Jan. 05, 2018	Jan. 05, 2015	Dec. 31, 2017	Mar. 31, 2018	Dec. 07, 2017
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Conversion price of common stock	$ 1.35
Variance from fair value of derivative			$ 28.2
Fair market value of derivative liability transferred to equity			$ 108.9
Redeemable Convertible Series B Preferred Stock [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Capital		$ 600
Redeemable Convertible preferred stock, shares issued		600,000	600,000	600,000
Preferred stock liquidation preference per share		$ 1,000
Preferred stock dividend rate calculated on interest rate		3.00%
Percentage of dividend payable in common stock accrued	5.00%
Conversion ceiling price of common stock				$ 2.25
Conversion floor price of common stock				1.75	$ 1.75
Conversion price of common stock	$ 1.35
Fair market value of derivative liability transferred to equity			$ 108.9
Redeemable Convertible Series B Preferred Stock [Member] | Maximum [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Conversion ceiling price of common stock				$ 2.25

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail)	May 08, 2018
Subsequent Event [Member]
Subsequent Event [Line Items]
Lawsuit filing date	May 8, 2018