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Note 9 RECEIVABLES
 3 Months Ended
Mar. 31, 2012
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

Note 9       Receivables


Receivables consisted of the following at the dates indicated:


    Receivables     Allowance for Credit Losses     Net  
March 31, 2012                        
Servicing (1)   $ 38,727     $ (2,576 )   $ 36,151  
Income taxes receivable     13,879       —       13,879  
Affordable housing (2)     5,568       (5,019 )     549  
Due from HLSS (3)     4,550       —       4,550  
Due from Altisource (3)     3,206       —       3,206  
Derivatives, at fair value (4)     2,750       —       2,750  
Other     2,848       (1,698 )     1,150  
    $ 71,528     $ (9,293 )   $ 62,235  
                         
December 31, 2011                        
Servicing (1)   $ 53,852     $ (1,648 )   $ 52,204  
Income taxes receivable     21,518       —       21,518  
Affordable housing (2)     5,568       (5,019 )     549  
Due from Altisource (3)     2,309       —       2,309  
Derivatives, at fair value (4)     3,600       —       3,600  
Other     4,284       (1,262 )     3,022  
    $ 91,131     $ (7,929 )   $ 83,202  

(1) Balances arise from our Servicing business and primarily include reimbursable expenditures due from investors and amounts to be recovered from the custodial accounts of the trustees.
   
(2) Balances primarily represent payments to be received for proceeds from sales of investments in affordable housing properties. None of these receivables is delinquent.
   
(3) See Note 20 for additional information regarding transactions with HLSS and Altisource.
   
(4) Balances represent the fair value of the interest rate cap we entered into in 2011. See Note 15 for additional information regarding our use of derivative financial instruments.

Receivable balances are evaluated individually. The change in the allowance for credit losses for the three months ended March 31, 2012 and the balance of the related receivables at those dates were as follows (the disclosure requirements for the allowance for credit losses do not apply to mortgage banking activities, including the long-term servicing of loans, such as the activities of our Servicing segment):


    Affordable Housing     Other     Total  
                         
Allowance for credit losses balance at December 31, 2011   $ 5,019     $ 1,262     $ 6,281  
Charge offs     —       —       —  
Recoveries     —       —       —  
Provision (reversal), net     —       455       455  
Other     —       (19 )     (19 )
Allowance for credit losses balance at March 31, 2012   $ 5,019     $ 1,698     $ 6,717  
                         
Receivables balance at March 31, 2012   $ 5,568     $ 2,848     $ 8,416