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Note 21 INTEREST EXPENSE

12 Months Ended

Dec. 31, 2012

Interest Expense [Text Block]

NOTE 21 INTEREST EXPENSE

The following table presents the components of interest expense for each category of our interest-bearing liabilities for the years ended December 31:

		2012				2011				2010
Match funded liabilities		$	122,292			$	93,051			$	61,656
Lines of credit and other borrowings (1)			96,220				32,985				17,553
Debt securities:
3.25% Convertible Notes			153				1,834				1,834
10.875% Capital Securities			1,894				2,840				2,954
Secured borrowings – owed to securitization investors			616				670				632
Escrow deposits and other			2,280				1,390				1,294
		$	223,455			$	132,770			$	85,923

(1) Includes interest expense of $54,710 in 2012 on the financing liability arising from the sales of Rights to MSRs to HLSS that were accounted for as financings. See Note 3 and Note 14 for additional information regarding these sales and the financing liability.

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- Definition

The disclosure of the cost of all borrowed funds accounted for as interest expense that was charged against earnings during the period, by category of interest-bearing liabilities.

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