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NOTE 16 OTHER LIABILITIES | 9 Months Ended
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Sep. 30, 2013
Other Liabilities [Abstract] |
OTHER LIABILITIES |
| Note 16 | Other Liabilities
Other liabilities are comprised of the following at the dates indicated:
|  | September 30, 2013 |  |  | December 31, 2012 |
Liability for indemnification obligations (1) |  | $ | 206,074 |  |  | $ | 38,140 |
Accrued expenses |  |  | 97,497 |  |  |  | 68,068 |
Liability for certain foreclosure matters (2) |  |  | 66,431 |  |  |  | 13,602 |
Payable to servicing and subservicing investors (3) |  |  | 27,063 |  |  |  | 9,973 |
Checks held for escheat |  |  | 24,965 |  |  |  | 33,259 |
Liability for selected tax items |  |  | 22,338 |  |  |  | 22,702 |
Due to related parties (4) |  |  | 16,535 |  |  |  | 45,034 |
Derivatives, at fair value (6) |  |  | 11,660 |  |  |  | 18,658 |
Servicing liabilities (5) |  |  | 11,568 |  |  |  | 9,830 |
Accrued interest payable |  |  | 9,455 |  |  |  | 5,410 |
Other |  |  | 61,122 |  |  |  | 23,861 |
|  | $ | 554,708 |  |  | $ | 288,537 |
| (1) | The balance includes origination representation and warranty obligations and compensatory fees for foreclosures that may ultimately exceed investor timelines. These obligations were primarily assumed in connection with the Ally MSR Transaction, the ResCap Acquisition and the Homeward Acquisition. See Note 4 – Business Acquisitions, Note 9 – Mortgage Servicing and Note 25 – Commitments and Contingencies for additional information.
| (2) | We recognized $52.8 million of expense in Professional services in the second quarter of 2013 to establish the liability. We recognized the remaining $13.6 million of the liability as an adjustment to the initial purchase price allocation related to the Homeward Acquisition. We applied this measurement period adjustment retrospectively to our Consolidated Balance Sheet at December 31, 2012 with an offsetting increase in goodwill. See Note 25 – Commitments and Contingencies for additional information.
| (3) | The balance represents amounts due to investors in connection with loans we service under servicing and subservicing agreements.
| (4) | See Note 23 – Related Party Transactions for additional information.
| (5) | During the nine months ended September 30, 2013 and 2012, amortization of servicing liabilities exceeded the amount of charges we recognized to increase our servicing liability obligations by $0.5 million and $1.1 million, respectively. Amortization of mortgage servicing rights is reported net of this amount in the unaudited Consolidated Statement of Operations.
| (6) | See Note 19 – Derivative Financial Instruments and Hedging Activities for additional information.

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- Definition The entire disclosure for other liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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