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Note 14 OTHER LIABILITIES

3 Months Ended

Mar. 31, 2012

Other Liabilities Disclosure [Text Block]

Note 14 OTHER LIABILITIES

Other liabilities were comprised of the following at December 31:

		March 31, 2012				December 31, 2011
Accrued expenses (1)		$	44,718			$	53,516
Payable to servicing and subservicing investors (2)			31,470				28,824
Checks held for escheat			22,974				24,687
Derivatives, at fair value (3)			15,556				20,276
Payable to HLSS (4)			12,384				—
Servicing liabilities (5)			8,744				9,662
Payable to Altisource (4)			5,579				4,274
Liability for selected tax items			4,607				4,524
Accrued interest payable			2,497				4,140
Other			11,287				8,746
		$	159,816			$	158,649

(1)	As disclosed in Note 3, accrued expenses include lease termination liabilities of $9,463 and $5,287 at March 31, 2012 and December 31, 2011, respectively, related to our closure of Litton and HomEq facilities. Accrued expenses also include accruals for litigation of $5,127 and $5,550 at March 31, 2012 and December 31, 2011, respectively.

(2)	The balance represents amounts due to investors in connection with loans we service under servicing and subservicing agreements.

(3)	See Note 15 for additional information regarding derivatives.

(4)	See Note 20 for additional information regarding transactions with HLSS and Altisource.

(5)	We recognize a servicing liability for those agreements that are not expected to compensate us adequately for performing the servicing. During the three months ended March 31, 2012 and 2011, amortization of servicing liabilities exceeded the amount of charges we recognized to increase servicing liability obligations by $918 and $701, respectively. Amortization of mortgage servicing rights is reported net of this amount in the Consolidated Statement of Operations.