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NOTE 11 GOODWILL | 3 Months Ended
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Mar. 31, 2013
Goodwill [Abstract] |
GOODWILL |
Note 11 | Goodwill
The following table provides a summary of activity in the carrying value of goodwill during the three months ended March 31, 2013:
|  | ResCap Acquisition |  |  | Homeward Acquisition |  |  | Litton Acquisition |  |  | HomEq Acquisition |  |  | Total |
Balance at December 31, 2012 |  | $ | — |  |  | $ | 300,843 |  |  | $ | 57,430 |  |  | $ | 12,810 |  |  | $ | 371,083 |
Derecognition of goodwill in connection with the sale of a business (1) |  |  | — |  |  |  | (72,309 | ) |  |  | — |  |  |  | — |  |  |  | (72,309 | )
ResCap Acquisition (2) |  |  | 204,743 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 204,743 |
|  |  | 204,743 |  |  |  | 228,534 |  |  |  | 57,430 |  |  |  | 12,810 |  |  |  | 503,517 |
Step acquisition - Correspondent One (3) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 100 |
Balance at March 31, 2013 |  | $ | 204,743 |  |  | $ | 228,534 |  |  | $ | 57,430 |  |  | $ | 12,810 |  |  | $ | 503,617 |
| (1) | On March 29, 2013, we sold the diversified fee-based business acquired in the Homeward Acquisition to Altisource and derecognized the assigned goodwill. See Note 3 – Business Acquisitions for additional information.
| (2) | See Note 3 – Business Acquisitions for additional information regarding this transaction.
| (3) | See Note 13 – Other Assets for additional information regarding this transaction.
In the ResCap Acquisition, $76.0 million of the recognized goodwill is assigned to the Servicing segment and $128.8 million is assigned to the diversified fee-based business which is included in Corporate Items and Other. On April 12, 2013, we sold the diversified fee-based business to Altisource and derecognized the assigned goodwill. See Note 25 – Subsequent Events for additional information. For Homeward, $108.1 million of the remaining goodwill is assigned to the Servicing segment and $120.4 million is assigned to the Lending segment. Subsequent to the initial assignment and prior to the sale to Altisource, $4.7 million of the purchase price allocated to the diversified fee-based business was reallocated to Servicing and Lending. For Litton and HomEq, the entire balance of goodwill pertains to the Servicing segment.

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