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NOTE 12 OTHER ASSETS | 12 Months Ended
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Dec. 31, 2011
Other Assets Disclosure [Text Block] |
NOTE 12 | OTHER ASSETS
Other assets consisted of the following at December 31:
|  | 2011 |  |  | 2010 |
Debt service accounts (1) |  | $ | 115,867 |  |  | $ | 86,234 |
Interest earning collateral deposits (2) |  |  | 27,191 |  |  |  | 25,738 |
Prepaid lender fees and debt issuance costs, net (3) |  |  | 27,113 |  |  |  | 22,467 |
Real estate, net |  |  | 3,368 |  |  |  | 4,682 |
Term note (4) |  |  | — |  |  |  | 5,600 |
Prepaid expenses and other |  |  | 12,403 |  |  |  | 13,561 |
|  | $ | 185,942 |  |  | $ | 158,282 |
(1) | Under our four advance funding facilities, we are contractually required to remit collections on pledged advances to the trustee within two days of receipt. The collected funds are not applied to reduce the related match funded debt until the payment dates specified in the indenture. The balances also include amounts that have been set aside from the proceeds of our four match funded advance facilities to provide for possible shortfalls in the funds available to pay certain expenses and interest. These funds are held in interest earning accounts.
(2) | The balances include $19,623 and $18,684 of cash collateral held by the counterparties to certain of our derivative agreements at December 31, 2011 and 2010, respectively.
(3) | Unamortized costs at December 31, 2011 and 2010 relate to match funded liabilities and other secured borrowings of the Servicing segment. We amortize these costs to the earlier of the scheduled amortization date, contractual maturity date or prepayment date of the debt.
(4) | In September 2011, we collected this term note in full and repaid a five-year note that was payable to the same counterparty. We originally issued a $7,000 note receivable in March 2009 with a maturity date of April 1, 2014 in connection with advances funded by the Ocwen Servicer Advance Funding, LLC (OSAF) term note pledged as collateral. See Note 15 for additional information.

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- Definition The entire disclosure for other assets. + References No definition available. + Details
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