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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Schedule of Income Before Taxes

For income tax purposes, the components of income before taxes were as follows for the years ended December 31:

	2013				2012				2011
Domestic	$	76,957			$	176,075			$	118,708
Foreign	258,266				81,433				4,287
	$	335,223			$	257,508			$	122,995

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) were as follows for the years ended December 31:

	2013				2012				2011
Current:
Federal	$	58,507			$	10,621			$	13,894
State	14,691				(759		)		(195		)
Foreign	15,545				2,968				1,079
	88,743				12,830				14,778
Deferred:
Federal	(53,711		)		62,704				29,440
State	(4,325		)		(431		)		368
Foreign	(5,397		)		1,482				86
Provision for valuation allowance on deferred tax assets	15,764				—				—
	(47,669		)		63,755				29,894
Total	$	41,074			$	76,585			$	44,672

Schedule of Effective Income Tax Reconciliation

Income tax expense differs from the amounts computed by applying the U.S. Federal corporate income tax rate of 35% as follows for the years ended December 31:

	2013				2012				2011
Expected income tax expense at statutory rate	$	117,328			$	90,127			$	43,049
Differences between expected and actual income tax expense:
State tax, after Federal tax benefit	5,316				(1,184		)		254
Provision for liability for selected tax items	12,218				5,558				1,611
Permanent differences	(636		)		15				61
Foreign tax differential	(107,621		)		(17,816		)		(716		)
Provision for valuation allowance on deferred tax assets	15,764				—				—
Other	(1,295		)		(115		)		413
Actual income tax expense	$	41,074			$	76,585			$	44,672

Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets were comprised of the following at December 31:

	2013				2012
Deferred tax assets:
Net operating loss carryforward	$	35,370			$	16,068
Delinquent servicing fees	36,480				19,559
Accrued legal settlements	27,320				5,411
Reserve for servicing exposure	20,446				59,273
Partnership losses	11,085				11,036
Accrued incentive compensation	10,037				6,210
Accrued other liabilities	7,452				2,662
Bad debt and allowance for loan losses	6,397				6,551
Intangible asset amortization	4,728				2,070
Tax residuals and deferred income on tax residuals	3,963				4,175
Stock-based compensation expense	2,956				3,127
Foreign deferred assets	2,802				3,055
Accrued lease termination costs	1,085				1,887
Capital losses	843				665
Valuation allowance on real estate	767				386
Interest rate swaps	743				3,813
Net unrealized gains and losses on securities	—				2,702
Other	10,560				7,339
	183,034				155,989
Deferred tax liabilities:
Mortgage servicing rights amortization	50,632				56,265
Other	80				2,831
	50,712				59,096
	132,322				96,893
Valuation allowance	(15,764		)		—
Deferred tax assets, net	$	116,558			$	96,893

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the total liability for selected tax items which includes the accruals for interest and penalties is as follows for the years ended December 31:

	2013				2012
Balance at January 1	$	22,702			$	4,524
Additions based on tax positions related to current year	—				17,396
Additions for tax positions of prior years	4,944				875
Lapses in statutes of limitation	(373		)		(93		)
Balance at December 31	$	27,273			$	22,702

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns.

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