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Note 4 FAIR VALUE (Detail) - (Table 1) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Financial assets:    
Loans held for sale, at lower of cost or fair value (2) $ 82,866 [1] $ 20,633 [1]
Loans, net – restricted for securitization investors (3)    [2] 58,560 [2]
Financial liabilities:    
Match funded liabilities (3) 106,376 [3] 47,198 [3]
Secured borrowings – owed to securitization investors (3)    [4] 53,323 [4]
Carrying (Reported) Amount, Fair Value Disclosure [Member]
    
Financial assets:    
Loans held for sale, at fair value (1) 426,480 [5]    [5]
Loans held for sale, at lower of cost or fair value (2) 82,866 [6] 20,633 [6]
Advances and match funded advances(3) 3,233,707 [7] 3,733,502 [7]
Receivables, net (3) 167,459 [7] 83,202 [7]
Loans, net – restricted for securitization investors (3)    [7] 58,560 [7]
Financial liabilities:    
Match funded liabilities (3) 2,532,745 [7] 2,558,951 [7]
Lines of credit and other secured borrowings (3) 1,096,679 [7] 540,369 [7]
Debt securities (3)    [7] 82,554 [7]
Secured borrowings – owed to securitization investors (3)    [7] 53,323 [7]
Derivative financial instruments (1):    
IRLCs 5,781 [5]    [5]
Interest rate swaps (10,836) [5] (14,491) [5]
Forward MBS trades (1,719) [5]    [5]
U.S. Treasury futures (1,258) [5]    [5]
Interest rate caps 168 [5] 3,600 [5]
Nondeliverable FX forward contracts    [5] (5,785) [5]
Impaired stratum of MSRs (2)(4)    [6],[8] 214 [6],[8]
MSRs, at fair value (1) 85,213 [5] 214 [5]
Portion at Fair Value, Fair Value Disclosure [Member]
    
Financial assets:    
Loans held for sale, at fair value (1) 426,480 [5]    [5]
Loans held for sale, at lower of cost or fair value (2) 82,866 [6] 20,633 [6]
Advances and match funded advances(3) 3,233,707 [7] 3,733,502 [7]
Receivables, net (3) 167,459 [7] 83,202 [7]
Loans, net – restricted for securitization investors (3)    [7] 55,165 [7]
Financial liabilities:    
Match funded liabilities (3) 2,533,278 [7] 2,569,131 [7]
Lines of credit and other secured borrowings (3) 1,101,504 [7] 550,860 [7]
Debt securities (3)    [7] 92,125 [7]
Secured borrowings – owed to securitization investors (3)    [7] 52,652 [7]
Derivative financial instruments (1):    
IRLCs 5,781 [5]    [5]
Interest rate swaps (10,836) [5] (14,491) [5]
Forward MBS trades (1,719) [5]    [5]
U.S. Treasury futures (1,258) [5]    [5]
Interest rate caps 168 [5] 3,600 [5]
Nondeliverable FX forward contracts    [5] (5,785) [5]
Impaired stratum of MSRs (2)(4)    [6],[8] 214 [6],[8]
MSRs, at fair value (1) $ 85,213 [5] $ 214 [5]
[1] These loans primarily represent non-performing subprime single-family residential loans that we do not intend to hold to maturity. The balances at December 31, 2012 and 2011 are net of valuation allowances of $14,659 and $14,257, respectively. In December 2012, we acquired non-performing mortgage loans with an aggregate UPB of $124,341 for cash consideration of $65,356. We sold these loans to Altisource Residential, LP in February 2013 for an insignificant gain.
[2] Loans - restricted for securitization investors were held by 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. We reported loans held by the consolidated securitization trusts at cost, less an allowance for loan losses of $2,702 at December 31, 2011.
[3] 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.
[4] 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.
[5] Measured at fair value on a recurring basis.
[6] Measured at fair value on a non-recurring basis.
[7] Financial instruments disclosed, but not carried, at fair value.
[8] The high-loan-to-value stratum is measured at fair value on a non-recurring basis and is classified as Level 3 because of the nature of the valuation inputs. The values are net of a valuation allowance of $2,378 and $2,290 at December 31, 2012 and 2011, respectively.