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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Net income $ 78,323 $ 37,992 $ 272
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of mortgage servicing rights 42,996 31,455 32,228
Amortization of debt discount 8,853 5,389 5,172
Amortization of debt issuance costs – senior secured term loan 9,764 2,086  
Depreciation and amortization of intangible assets 4,160 7,512 6,366
Write-off of investment in commercial real estate property   3,000  
Reversal of valuation allowance on mortgage servicing assets (574) (90) (670)
Reversal of valuation allowance on discontinued operations     (1,227)
Gain on disposition of subsidiaries     (4,749)
Loss (gain) on trading securities   7,968 (11,187)
Loss on loans held for resale, net 4,529 5,865 11,132
Equity in (earnings) losses of unconsolidated entities 746 (1,371) 2,933
Unrealized losses (gains) on derivative financial instruments 7,426 133 (588)
Gain on extinguishment of debt (3,651) (152) (3,015)
Decrease (increase) in deferred tax assets, net 29,898 (7,764) 40,758
Net cash provided by trading activities   239,555 3,700
Net cash provided by loans held for resale activities 1,468 1,771 4,576
Changes in assets and liabilities:      
Decrease in advances and match funded advances 842,545 447,219 227,271
Increase in receivables and other assets, net (36,452) (48,468) (32,846)
Decrease in servicer liabilities (1,196) (36,180) (97,079)
Increase (decrease) in other liabilities (15,470) 24,637 19,387
Other, net 8,780 6,987 4,212
Net cash provided by operating activities 982,145 727,544 206,646
Cash flows from investing activities      
Cash paid to acquire Litton Loan Servicing LP (2,646,700)    
Cash paid to acquire HomEq Servicing (a business within Barclays Bank PLC)   (1,167,122)  
Proceeds from the sale of subsidiaries, net of cash sold     1,584
Investment in unconsolidated entities (15,340)   (62)
Distributions of capital from unconsolidated entities 2,415 3,542 6,658
Purchase of mortgage servicing rights   (23,425) (10,241)
Acquisition of advances and other assets in connection with the purchase of mortgage servicing rights   (528,882)  
Additions to premises and equipment (3,822) (3,821) (3,700)
Decrease in restricted cash – for securitization investors 52 1,028  
Principal payments received on loans – restricted for securitization investors 5,250 5,616  
Proceeds from sales of real estate 1,678 2,434 2,600
Proceeds from sale of investments in affordable housing projects 929 6,036  
Other 420 888  
Net cash used by investing activities (2,655,118) (1,703,706) (3,161)
Cash flows from financing activities      
Proceeds from (repayment of) match funded liabilities 1,076,422 1,016,838 (491,416)
Repayment of secured borrowings – owed to securitization investors (9,382) (9,346)  
Proceeds from lines of credit and other secured borrowings 563,500 448,316 102,106
Repayments of lines of credit and other secured borrowings (281,768) (263,442) (151,976)
Payment of debt issuance costs – senior secured term loan (13,147) (10,689)  
Repayment of investment line   (156,968) (43,751)
Repurchase of debt securities, net   (11,659) (37,289)
Issuance of common stock 354,445   335,129
Repurchase of common stock     (11,000)
Exercise of common stock options 1,483 3,146 3,358
Distribution of cash in connection with the spin-off of Altisource Portfolio Solutions     (20,028)
Other (2,142) (3,157) 1,276
Net cash provided (used) by financing activities 1,689,411 1,013,039 (313,591)
Net increase (decrease) in cash 16,438 36,877 (110,106)
Cash at beginning of year 127,796 90,919 201,025
Cash at end of year 144,234 127,796 90,919
Supplemental cash flow information      
Interest paid 128,947 88,354 56,692
Income tax payments, net 29,461 6,756 52,910
Supplemental non-cash investing and financing activities      
Net assets distributed in connection with the spin-off of Altisource Portfolio Solutions, excluding cash     52,118
Real estate acquired through foreclosure 3,539 7,569 11,473
Common stock received from employees in connection with the exercise of stock options as settlement of the exercise price and income tax withholding on compensation 3,657    
Fair value of assets acquired      
Cash (23,791)    
Advances (2,468,137) (1,063,180)  
Mortgage servicing rights (144,314) (84,324)  
Premises and equipment (3,386) (6,728)  
Goodwill (65,622) (12,810)  
Receivables   (7,957)  
Other assets (5,829)    
(2,711,079) (1,174,999)  
Fair value of liabilities assumed      
Servicing liabilities 8,972 709  
Checks held for escheat 6,145 4,616  
Accrued expenses and other 25,471 4,001  
Total consideration (2,670,491) (1,165,673)  
Amount due from seller for purchase price adjustments   (1,449)  
Cash paid (2,670,491) (1,167,122)  
Less cash acquired 23,791    
Net cash paid $ (2,646,700) $ (1,167,122)