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.