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CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities    
Net income $ 188,870 $ 115,582
Adjustments to reconcile net income to net cash provided by operating activities    
Amortization of mortgage servicing rights 197,435 53,561
Amortization of debt discount 1,082 2,679
Amortization of debt issuance costs - senior secured term loans 3,264 3,050
Depreciation 17,153 3,896
Gain on sales of loans (72,912)  
Realized and unrealized losses on derivative financial instruments, net 12,896 3,900
Loss on extinguishment of debt 12,556 653
Origination and purchase of loans held for sale (7,072,260)  
Proceeds from sale and collection of loans held for sale 7,006,883 1,136
Changes in assets and liabilities:    
Decrease in advances and match funded advances 424,008 1,213,917
Decrease in receivables and other assets, net 265,554 3,184
Increase in servicer liabilities 13,046 14,474
Increase in other liabilities 14,737 7,911
Other, net 8,143 10,208
Net cash provided by operating activities 1,020,455 1,434,151
Cash flows from investing activities    
Cash paid to acquire Liberty Home Equity Solutions, Inc. (26,568)  
Purchase of mortgage servicing rights, net (676,750) (175,508)
Acquisition of advances in connection with the purchase of mortgage servicing rights (445,478) (1,914,687)
Origination of loans held for investment (274,081)  
Principal payments received on loans held for investment 2,164  
Proceeds from sale of MSRs 21,511  
Proceeds from sale of advance financing subsidiary and special purpose entity   76,334
Proceeds from sale of match funded advances 3,492,489 1,084,309
Proceeds from sale of diversified fee businesses to Altisource Portfolio Solutions, S.A 215,700  
Net cash acquired in acquisition of Correspondent One S.A. 22,108  
Distributions of capital from unconsolidated entities 1,300 2,839
Additions to premises and equipment (24,475) (16,596)
Purchase of real estate   (6,501)
Other 2,947 5,009
Net cash provided by (used in) investing activities 50,037 (944,801)
Cash flows from financing activities    
Net repayment of match funded liabilities (2,169,732) (352,963)
Proceeds from other borrowings 7,935,374 29,784
Repayment of other borrowings (7,182,275) (191,238)
Payment of debt issuance costs - senior secured term loan (25,547)  
Proceeds from sale of mortgage servicing rights accounted for as a financing 404,509 184,205
Proceeds from sale of loans accounted for as a financing 272,652  
Redemption of 10.875% Capital Securities   (26,829)
Repurchase of common stock (157,880)  
Proceeds from exercise of common stock options 947 1,969
Payment of preferred stock dividends (4,534)  
Other (6,650) (8,009)
Net cash used in financing activities (933,136) (363,081)
Net increase in cash 137,356 126,269
Cash at beginning of period 220,130 144,234
Cash at end of period 357,486 270,503
Supplemental non-cash investing and financing activities    
Conversion of Series A preferred stock to common stock 100,000  
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) (2,260,830)  
Fair value of assets acquired    
Advances (1,722,379)  
Mortgage servicing rights (391,853)  
Premises and equipment (16,423)  
Goodwill (201,810)  
Receivables and other assets (2,989)  
Fair value of asset acquired, total (2,335,454)  
Fair value of liabilities assumed    
Accrued expenses and other liabilities 74,624  
Total consideration (2,260,830)  
Amount due to seller for purchase price adjustments     
Cash paid (2,260,830)  
Less cash acquired     
Net cash paid $ (2,260,830)