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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash flows from operating activities    
Net income $ 121,868 $ 64,182
Adjustments to reconcile net income to net cash provided by operating activities    
Amortization of mortgage servicing rights 118,252 33,411
Amortization of debt discount 752 1,480
Amortization of debt issuance costs - senior secured term loans 2,086 1,843
Depreciation 10,455 1,937
Gain on sales of loans (25,267)   
Realized and unrealized (gains) losses on derivative financial instruments, net (22,286) 2,255
Loss on extinguishment of debt 13,838  
Origination and purchase of loans held for sale (5,019,833)   
Proceeds from sale and collection of loans held for sale 5,095,388 949
Changes in assets and liabilities:    
Decrease in advances and match funded advances 429,151 774,643
Decrease in receivables and other assets, net 112,113 23,812
Increase in servicer liabilities 3,259 7,250
Increase (decrease) in other liabilities 42,754 (19,068)
Other, net (5,503) 7,928
Net cash provided by operating activities 877,027 900,622
Cash flows from investing activities    
Cash paid to acquire ResCap Servicing Operations (a component of Residential Capital, LLC) (2,097,821)  
Cash paid to acquire Liberty Home Equity Solutions, Inc. (26,568)  
Purchase of mortgage servicing rights, net (543,621) (169,411)
Acquisition of advances in connection with the purchase of mortgage servicing rights (73,523) (1,833,485)
Origination of loans held for investment (63,029)  
Principal payments received on loans held for investment 871  
Proceeds from sale of advance financing subsidiary and special purpose entity   76,334
Proceeds from sale of match funded advances 1,079,777 92,593
Proceeds from sale of diversified fee businesses to Altisource Portfolio Solution, S.A. 215,700  
Net cash acquired in step acquisition of Correspondent One S.A. 22,108  
Distributions of capital from unconsolidated entities 1,300 2,839
Additions to premises and equipment (19,413) (16,720)
Other 478 2,348
Net cash used in investing activities (1,503,741) (1,845,502)
Cash flows from financing activities    
Net proceeds from (repayment of) match funded liabilities (140,913) 904,348
Net proceeds from other borrowings 6,342,432 29,784
Repayment of other borrowings (5,555,805) (74,270)
Payment of debt issuance costs - senior secured term loan (24,931)  
Proceeds from sale of mortgage servicing rights accounted for as a financing 162,434 73,691
Proceeds from sale of loans accounted for as a financing 65,938  
Redemption of 10.875% Capital Securities   (25)
Exercise of common stock options 567 1,200
Payment of preferred stock dividends (3,088)  
Other (303) (5,974)
Net cash provided by financing activities 846,331 928,754
Net increase (decrease) in cash 219,617 (16,126)
Cash at beginning of period 220,130 144,234
Cash at end of period 439,747 128,108
Supplemental non-cash investing and financing activities    
Conversion of 3.25% Convertible Notes to common stock   56,410
ResCap Servicing Operations
    
Cash flows from investing activities    
Cash paid to acquire ResCap Servicing Operations (a component of Residential Capital, LLC) (2,097,821)  
Fair value of assets acquired    
Advances (1,618,856)   
Mortgage servicing rights (393,891)   
Premises and equipment (16,423)   
Goodwill (210,038)   
Receivables and other assets (2,989)   
Fair value of asset acquired, total (2,242,197)   
Fair value of liabilities assumed    
Accrued expenses and other liabilities 74,680   
Total consideration (2,167,517)   
Amount due to seller for purchase price adjustments 69,696   
Cash paid (2,097,821)  
Less cash acquired