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NOTE 14 MATCH FUNDED LIABILITIES | 9 Months Ended
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Sep. 30, 2013
Match Funded Liabilities [Abstract] |
MATCH FUNDED LIABILITIES |
| NOTE 14 | MATCH FUNDED LIABILITIES
Match funded liabilities are comprised of the following at the dates indicated:
|  |  |  |  |  |  |  | Available |  |  | Balance Outstanding |
|  |  |  | Maturity |  | Amortization |  | Borrowing |  |  | September 30, |  |  | December 31, |
Borrowing Type |  | Interest Rate |  | (1) |  | Date (1) |  | Capacity (2) |  |  | 2013 |  |  | 2012 |
2011-Servicer Advance Revolving Trust 1 (3) |  | 2.23% |  | May 2043 |  | May 2013 |  | $ | — |  |  | $ | — |  |  | $ | 325,000 |
2011-Servicer Advance Revolving Trust 1 (3) |  | 3.37 – 5.92% |  | May 2043 |  | May 2013 |  |  | — |  |  |  | — |  |  |  | 525,000 |
2012-Servicing Advance Revolving Trust 2 (3) |  | 3.27 – 6.90% |  | Sep. 2043 |  | Sept. 2013 |  |  | — |  |  |  | — |  |  |  | 250,000 |
2012-Servicing Advance Revolving Trust 3 (3) |  | 2.98% |  | Mar. 2043 |  | Mar. 2013 |  |  | — |  |  |  | — |  |  |  | 248,999 |
2012-Servicing Advance Revolving Trust 3 (3) |  | 3.72 – 7.04% |  | Mar. 2044 |  | Mar. 2014 |  |  | — |  |  |  | — |  |  |  | 299,278 |
Total fixed rate |  |  |  |  |  |  |  |  | — |  |  |  | — |  |  |  | 1,648,277 |
Advance Receivable Backed Notes (4) |  | 1-month LIBOR (1ML) + 285 bps |  | Apr. 2015 |  | Apr. 2014 |  |  | — |  |  |  | — |  |  |  | 205,016 |
Advance Receivable Backed Notes Series 2012-ADV1 (5) |  | Commercial paper (CP) rate + 225 or 335 bps |  | Dec. 2043 |  | Dec. 2013 |  |  | 18,959 |  |  |  | 81,041 |  |  |  | 232,712 |
Advance Receivable Backed Notes Series 2012-ADV1 |  | 1ML + 250 bps |  | June 2016 |  | June 2014 |  |  | — |  |  |  | 225,000 |  |  |  | 94,095 |
Advance Receivable Backed Note |  | 1ML + 300 bps |  | Dec. 2015 |  | Dec. 2014 |  |  | 12,383 |  |  |  | 37,617 |  |  |  | 49,138 |
2011-Servicing Advance Revolving Trust 1 (3) |  | 1ML + 300 bps |  | May 2043 |  | May 2013 |  |  | — |  |  |  | — |  |  |  | 204,633 |
2012-Servicing Advance Revolving Trust 2 (3) |  | 1ML + 315 bps |  | Sep. 2043 |  | Sep. 2013 |  |  | — |  |  |  | — |  |  |  | 22,003 |
2012-Servicing Advance Revolving Trust 3 (3) |  | 1ML + 300 bps – 675 bps |  | Mar. 2044 |  | Mar. 2014 |  |  | — |  |  |  | — |  |  |  | 40,626 |
2012-Homeward Agency Advance Funding Trust 2012-1 (6) |  | 1ML + 300 bps |  | Nov. 2013 |  | Nov. 2013 |  |  | 5,646 |  |  |  | 19,354 |  |  |  | 16,094 |
2012-Homeward DSF Advance Revolving Trust 2012-1 (3) |  | 1ML + 450 bps |  | Feb. 2013 |  | Feb. 2013 |  |  | — |  |  |  | — |  |  |  | 20,151 |
Total variable rate |  |  |  |  |  |  |  |  | 36,988 |  |  |  | 363,012 |  |  |  | 884,468 |
|  |  |  |  |  |  |  | $ | 36,988 |  |  | $ | 363,012 |  |  | $ | 2,532,745 |
| (1) | The amortization date of our facilities is the date on which the revolving period ends under each advance facility note and repayment of the outstanding balance must begin if the note is not renewed or extended. The maturity date is the date on which all outstanding balances must be repaid. In two advance facilities, there are multiple notes outstanding. For each note, after the amortization date, all collections that represent the repayment of advances pledged to the facility must be applied to reduce the balance of the note outstanding, and any new advances are ineligible to be financed.
| (2) | Borrowing capacity is available to us provided that we have additional eligible collateral to pledge. Collateral may only be pledged to one facility. At September 30, 2013, $0.1 million of the available borrowing capacity could be used based on the amount of eligible collateral.
| (3) | Facility was repaid in February 2013 from the proceeds of a new $1.4 billion bridge facility (Homeward Residential Bridge Loan Trust – 2013) with an amortization date of August 14, 2013. On July 1, 2013, we repaid the new bridge facility in full from proceeds received on the sale of servicing advances to HLSS.
| (4) | We repaid this facility in full in July 2013.
| (5) | On August 30, 2013, we amended this facility to reduce the maximum borrowing capacity to $100 million from $450 million.
| (6) | On October 21, 2013, we extended the maturity date of this facility to November 29, 2013 with two optional six-month extensions subject to lender approval.

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- Definition The disclosure for debt associated with advances transferred to special purpose entities in transactions accounted for as secured borrowings recognized in the transferor's statement of financial position, including repayment terms, interest rates, unused borrowings capacity, and other matters important to users of the financial statements, such as the effects of refinancing and any non-compliance with debt covenants. + References No definition available. + Details
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