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Note 16 OTHER LIABILITIES
 12 Months Ended
Dec. 31, 2012
Other Liabilities Disclosure [Text Block]
NOTE 16 OTHER LIABILITIES

Other liabilities were comprised of the following at December 31:


    2012     2011  
Accrued expenses (1)   $ 106,376     $ 47,198  
Due to related parties (2)     45,034       4,274  
Checks held for escheat     33,225       22,481  
Liability for selected tax items (3)     22,702       4,524  
Derivatives, at fair value (4)     18,658       20,276  
Payable to servicing and subservicing investors (5)     9,973       28,824  
Servicing liabilities (6)     9,830       9,662  
Accrued interest payable     5,410       4,140  
Secured borrowings – owed to securitization investors (7)     —       53,323  
Other     26,456       8,137  
    $ 277,664     $ 202,839  

(1) Includes $63,406 of accrued expenses attributable to Homeward, including $38,093 of accruals related to loan repurchase obligations and reserves for indemnification for servicing errors and for compensatory fees for foreclosures that exceed investor timelines.
(2) See Note 27 for additional information regarding transactions with Altisource and HLSS.
(3) See Note 22 for information on the liability for selected tax items.
(4) See Note 19 for additional information regarding derivatives.
(5) The balance represents amounts due to investors in connection with loans we service under servicing and subservicing agreements.
(6) Our acquisition of MSRs during the second quarter of 2012 included a servicing liability with a fair value of $1,441. During, 2012, 2011 and 2010, amortization of servicing liabilities exceeded the amount of charges we recognized to increase servicing liability obligations by $1,274, $2,725 and $172, respectively. Amortization of mortgage servicing rights is reported net of this amount in the Consolidated Statement of Operations.
(7) Secured borrowings – owed to securitization investors consisted of certificates representing beneficial ownership interests in four securitization trusts that we included in our consolidated financial statements until December 2012 when we sold our interests in the trusts, as more fully described in Note 1—Securitizations of Residential Mortgage Loans.

The balance of Other liabilities at December 31, 2012 includes $107,291 related to the Homeward Acquisition. See Note 2.