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NOTE 19 DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 9 Months Ended
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Sep. 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 |  |  | 4,062,236 |  |  |  | 85,000 |  |  |  | 9,316,350 |  |  |  | — |  |  |  | 1,280,000 |
Amortization |  |  | (228,806 | ) |  |  | — |  |  |  | (33,372 | ) |  |  | (24,000 | ) |  |  | — |
Maturities |  |  | (3,709,513 | ) |  |  | — |  |  |  | (4,558,971 | ) |  |  | — |  |  |  | (295,604 | )
Terminations |  |  | (549,877 | ) |  |  | (194,000 | ) |  |  | (5,627,670 | ) |  |  | (1,001,000 | ) |  |  | (2,480,351 | )
Balance at September 30, 2013 |  | $ | 686,559 |  |  | $ | — |  |  | $ | 735,316 |  |  | $ | — |  |  | $ | — |
Fair value of net derivative assets (liabilities) at: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2013 |  | $ | 13,491 |  |  | $ | — |  |  | $ | (12,185 | ) |  | $ | — |  |  | $ | — |
December 31, 2012 |  | $ | 5,781 |  |  | $ | (1,258 | ) |  | $ | (1,719 | ) |  | $ | 168 |  |  | $ | (10,836 | )
Maturity |  |  | Oct. 2013 – Jan. 2014 |  |  |  | — |  |  |  | Oct. 2013 – Nov. 2013 |  |  |  | — |  |  |  | —
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 mortgage loans held for sale and IRLCs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward MBS trades |  |  | 2014 |  |  | $ | 735,316 |  |  | $ | (12,185 | ) |  | $ | 30,989 |  |  | Gain on loans held for sale, net and Other, net
IRLCs |  |  | 2013 |  |  |  | 686,559 |  |  |  | 13,491 |  |  |  | 5,918 |  |  | Gain on loans held for sale, net
Total derivatives |  |  |  |  |  |  |  |  |  | $ | 1,306 |  |  | $ | 36,907 |  |  |
| (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) |  |  | (9,434 | )
Accumulated losses on cash flow hedges at September 30, 2013 |  | $ | 12,150 |
| (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. Amortization in the third quarter included $4.1 million of accelerated amortization as a result of the early repayment and termination of four advance financing facilities as a result of the July 1, 2013 HLSS Transaction.
Schedule of statements of operations related to derivative financial instruments |
|  | Three Months |  |  | Nine Months |
|  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Servicing and origination expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gains on economic hedges |  | $ | — |  |  | $ | — |  |  | $ | 1,017 |  |  | $ | — |
Gain on loans held for sale, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gains on economic hedges |  |  | 9,608 |  |  |  | — |  |  |  | 36,907 |  |  |  | — |
Other, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gains (losses) on economic hedges (1) |  |  | (103 | ) |  |  | 1,397 |  |  |  | (3,822 | ) |  |  | 6,645 |
Ineffectiveness of cash flow hedges |  |  | — |  |  |  | 47 |  |  |  | (657 | ) |  |  | 46 |
Write-off of losses in AOCL for a discontinued hedge relationship |  |  | (7,780 | ) |  |  | (3,089 | ) |  |  | (9,434 | ) |  |  | (4,633 | )
Write-off of losses in AOCL for hedge of a financing facility assumed by HLSS (See Note 3 –Transfers of Financial Assets) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (5,958 | )
|  | $ | 1,725 |  |  | $ | (1,645 | ) |  | $ | 24,011 |  |  | $ | (3,900 | )
| (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.

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 25 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41678-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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