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NOTE 9 MORTGAGE SERVICING (Tables) | 6 Months Ended
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Jun. 30, 2013
Mortgage Servicing [Abstract] |
Schedule of activity related to MSRs - Amortization method |
|  | 2013 |  |  | 2012 |
Balance at December 31 |  | $ | 678,937 |  |  | $ | 293,152 |
Additions recognized in connection with business and asset acquisitions (1) (2) |  |  | 1,078,819 |  |  |  | 175,852 |
Additions recognized on the sale of residential mortgage loans |  |  | 46,892 |  |  |  | — |
Servicing transfers, adjustments and other |  |  | 1,970 |  |  |  | (88 | )
Amortization (3) |  |  | (118,580 | ) |  |  | (34,348 | )
Balance at June 30 |  | $ | 1,688,038 |  |  | $ | 434,568 |
Estimated fair value at June 30 |  | $ | 2,269,985 |  |  | $ | 470,974 |
| (1) | MSRs purchased during 2013 include $393.9 million acquired in the ResCap Acquisition. See Note 4 – Business Acquisitions for additional information.
| (2) | MSRs purchased during 2013 also include $680.0 million of MSRs acquired in the Ally MSR Transaction. The acquired MSRs relate to mortgage loans with a UPB of approximately $87.0 billion owned by Freddie Mac and Fannie Mae. We also acquired servicing advance receivables of $73.5 million. We assumed the origination representation and warranty obligations of approximately $136.4 million in connection with a majority of the acquired MSRs. We had been subservicing these MSRs on behalf of Ally under a subservicing contract assumed by us in connection with the ResCap Acquisition.
| (3) | Amortization of mortgage servicing rights is reported net of the amortization of servicing liabilities and includes the amount of charges we recognized to increase servicing liability obligations.
Schedule of activity related to MSRs - Fair value measurement method |
Balance at December 31, 2012 |  | $ | 85,213 |
Changes in fair value: |  |  |  |
Due to changes in market valuation assumptions |  |  | 20,680 |
Realization of cash flows and other changes |  |  | (8,730 | )
Balance at June 30, 2013 |  | $ | 97,163 |
Schedule of estimated change in the fair value of our MSRs |
|  | Adverse change in fair value |
|  | 10% |  |  | 20% |
Weighted average prepayment speeds |  | $ | (3,850 | ) |  | $ | (7,459 | )
Discount rate (Option-adjusted spread) |  | $ | (4,143 | ) |  | $ | (7,962 | )
Schedule of components of servicing and subservicing fees |
|  | Three Months |  |  | Six Months |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Loan servicing and subservicing fees |  | $ | 363,739 |  |  | $ | 149,384 |  |  | $ | 631,767 |  |  | $ | 261,973 |
Home Affordable Modification Program (HAMP) fees |  |  | 46,792 |  |  |  | 21,390 |  |  |  | 86,939 |  |  |  | 34,074 |
Late charges |  |  | 29,589 |  |  |  | 17,676 |  |  |  | 55,485 |  |  |  | 36,521 |
Loan collection fees |  |  | 7,755 |  |  |  | 3,830 |  |  |  | 14,137 |  |  |  | 7,169 |
Custodial accounts (float earnings) |  |  | 2,110 |  |  |  | 663 |  |  |  | 3,790 |  |  |  | 1,450 |
Other |  |  | 32,647 |  |  |  | 7,392 |  |  |  | 58,007 |  |  |  | 14,237 |
|  | $ | 482,632 |  |  | $ | 200,335 |  |  | $ | 850,125 |  |  | $ | 355,424 |
Schedule of composition of servicing and subservicing portfolios by type of property serviced |
|  | Residential |  |  | Commercial |  |  | Total |
UPB at June 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |
Servicing (1) |  | $ | 344,173,439 |  |  | $ | — |  |  | $ | 344,173,439 |
Subservicing |  |  | 92,081,944 |  |  |  | 452,042 |  |  |  | 92,533,986 |
|  | $ | 436,255,383 |  |  | $ | 452,042 |  |  | $ | 436,707,425 |
UPB at December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |
Servicing (1) |  | $ | 175,762,161 |  |  | $ | — |  |  | $ | 175,762,161 |
Subservicing |  |  | 27,903,555 |  |  |  | 401,031 |  |  |  | 28,304,586 |
|  | $ | 203,665,716 |  |  | $ | 401,031 |  |  | $ | 204,066,747 |
| (1) | Includes UPB of $99.8 billion and $79.4 billion at June 30, 2013 and December 31, 2012, respectively, for which the Rights to MSRs have been sold to HLSS.

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- Definition Tabular disclosure of a sensitivity analysis or stress test showing the hypothetical effect on the fair value of the transferor's interests in transferred financial assets (including any servicing assets or servicing liabilities) of two or more unfavorable variations from the expected levels for each key assumption that is reported, independently determined from any change in another key assumption, and a description of the objectives, methodology, and limitations of the sensitivity analysis or stress test. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=13989330&loc=d3e107314-111719 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=13989330&loc=d3e107314-111719 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 140 -Paragraph 17 -Subparagraph i(3) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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