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NOTE 18 DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 6 Months Ended
Jun. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of changes in notional balance of holdings of derivatives
    IRLCs     U.S. Treasury Futures     Forward MBS Trades     Interest Rate Caps     Interest Rate Swaps  
                               
Balance at December 31, 2012   $ 1,112,519     $ 109,000     $ 1,638,979     $ 1,025,000     $ 1,495,955  
   Additions     2,803,364       85,000       6,443,459       —       1,280,000  
   Amortization     (228,319 )     —       (33,372 )     (24,000 )     —  
   Maturities     (2,826,503 )     —       (3,094,020 )     —       (295,604 )
   Terminations     (207,842 )     (194,000 )     (4,100,120 )     (126,000 )     (2,480,351 )
Balance at June 30, 2013   $ 653,219     $ —     $ 854,926     $ 875,000     $ —  
                                         
Fair value of net derivative assets (liabilities) at:                                        
June 30, 2013   $ (7,064 )   $ —     $ 18,681     $ 176     $ —  
December 31, 2012   $ 5,781     $ (1,258 )   $ (1,719 )   $ 168     $ (10,836 )
                                         
Maturity     Jul. 2013 –
Oct. 2013		       —       Jul. 2013 –
Sep. 2013		       Aug. 2015 –
May 2016		       —  
Schedule of gains (losses) on derivatives

 

Purpose   Expiration
Date		   Notional
Amount		     Fair Value
(1)		     Gains /
(Losses)		     Consolidated
Statement of
Operations
Caption
Interest rate risk of borrowings                                
Interest rate caps                                
Hedge the effects of changes in 1ML on advance funding facilities   2015-2016   $ 875,000     $ 176     $ 9     Other, net
                                 
Interest rate risk of mortgage loans held for sale and IRLCs                                
Forward MBS trades   2013     854,926       18,681       40,293     Loss on loans held for sale, net and Other, net
                                 
IRLCs   2013     653,219       (7,064 )     (12,994 )   Loss on loans held for sale, net
       Total derivatives               $ 11,793     $ 27,308      
(1) Derivatives are reported at fair value in Receivables, Other assets or in Other liabilities on our unaudited Consolidated Balance Sheets.
 
Schedule of changes in the losses on cash flow hedges included in AOCL

 

Accumulated losses on cash flow hedges at December 31, 2012   $ 9,878  
Additional net losses on cash flow hedges     12,363  
Ineffectiveness of cash flow hedges reclassified to earnings     (657 )
Losses on terminated hedging relationships amortized to earnings (1)     (1,654 )
Accumulated losses on cash flow hedges at June 30, 2013   $ 19,930  
(1) Where the hedging relationship has been terminated but the hedged transaction is still forecast to occur, losses on the hedging relationship that are included in AOCL are amortized to earnings in the periods in which earnings are affected by the hedged transaction.
Schedule of statements of operations related to derivative financial instruments
    Three Months     Six Months  
    2013     2012     2013     2012  
Servicing and origination expense                                
Gains on economic hedges   $ 17     $ —     $ 1,017     $ —  
Loss on loans held for resale, net                                
Gains (losses) on economic hedges     17,056       —       26,009       —  
Other, net                                
Gains (losses) on economic hedges (1)     2,742       1,843       (2,429 )     5,248  
Ineffectiveness of cash flow hedges     —       (64 )     (657 )     (1)  
Write-off of losses in AOCL for a discontinued hedge relationship     (1,654 )     (772 )     (1,654 )     (1,544 )
Write-off of losses in AOCL for hedge of a financing facility assumed by HLSS (See Note 3 – Transfers of Financial Assets)     —       —       —       (5,958 )
    $ 18,161     $ 1,007     $ 22,286     $ (2,255 )
(1) Includes a gain of $3.4 million recognized during the three months ended March 31, 2012 from the termination of foreign exchange forward contracts.