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Note 10 OTHER ASSETS

3 Months Ended

Mar. 31, 2012

Other Assets Disclosure [Text Block]

Note 10 Other Assets

Other assets consisted of the following at the dates indicated:

		March 31, 2012				December 31, 2011
Debt service accounts (1)		$	106,679			$	115,867
Interest earning collateral deposits (2)			29,675				27,191
Prepaid lender fees and debt issuance costs, net (3)			18,502				27,113
Real estate, net			3,061				3,368
Prepaid expenses and other			10,026				12,403
		$	167,943			$	185,942

(1)	Under our three 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. As disclosed in Note 4, in March 2012 we transferred to HLSS the debt service account related to the match funded liabilities assumed by HLSS. This account had a balance of $14,786 at the time of the transfer.

(2)	The balances include $19,528 and $19,623 of cash collateral held by the counterparties to certain of our derivative agreements at March 31, 2012 and December 31, 2011, respectively.

(3)	Unamortized costs 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. As disclosed in Note 4, we transferred $5,422 of deferred costs to HLSS in connection with their assumption of the related match funded liabilities in March 2012.