Business Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information

Financial information for our segments is as follows:



	Servicing			Lending			Corporate Items and Other			Corporate Eliminations			Business Segments Consolidated
Results of Operations
Three months ended September 30, 2014
Revenue	$	485,303		$	26,877		$	1,557		$	(39	)	$	513,698
Operating expenses (1)	313,964			22,632			118,482			(39		)	455,039
Income (loss) from operations	171,339			4,245			(116,925		)	—			58,659
Other income (expense):
Interest income	903			4,825			865			—			6,593
Interest expense	(124,106		)	(2,601		)	(6,342		)	—			(133,049		)
Other	(3,618		)	139			(990		)	—			(4,469		)
Other income (expense), net	(126,821		)	2,363			(6,467		)	—			(130,925		)
Income (loss) before income taxes	$	44,518		$	6,608		$	(123,392	)	$	—		$	(72,266	)

Three months ended September 30, 2013
Revenue	$	496,302		$	33,539		$	1,801		$	(402	)	$	531,240
Operating expenses (1)	305,654			29,504			11,143			(41		)	346,260
Income (loss) from operations	190,648			4,035			(9,342		)	(361		)	184,980
Other income (expense):
Interest income	859			3,066			1,454			—			5,379
Interest expense (2)	(113,678		)	(3,279		)	72			—			(116,885		)
Other	(6,631		)	1,843			398			361			(4,029		)
Other income (expense), net	(119,450		)	1,630			1,924			361			(115,535		)
Income (loss) before income taxes	$	71,198		$	5,665		$	(7,418	)	$	—		$	69,445



	Servicing			Lending			Corporate Items and Other			Corporate Eliminations			Business Segments Consolidated
Nine months ended September 30, 2014
Revenue	$	1,526,606		$	86,811		$	4,734		$	(118	)	$	1,618,033
Operating expenses (1)	919,998			81,261			148,555			(118		)	1,149,696
Income (loss) from operations	606,608			5,550			(143,821		)	—			468,337
Other income (expense):
Interest income	1,805			13,117			2,550			—			17,472
Interest expense	(391,122		)	(8,271		)	(9,736		)	—			(409,129		)
Other	(4,622		)	3,846			710			—			(66		)
Other income (expense), net	(393,939		)	8,692			(6,476		)	—			(391,723		)
Income (loss) before income taxes	$	212,669		$	14,242		$	(150,297	)	$	—		$	76,614

Nine months ended September 30, 2013
Revenue	$	1,381,872		$	81,180		$	19,758		$	(492	)	$	1,482,318
Operating expenses (1)	795,645			69,543			95,361			(131		)	960,418
Income (loss) from operations	586,227			11,637			(75,603		)	(361		)	521,900
Other income (expense):
Interest income	1,382			12,432			3,516			—			17,330
Interest expense (2)	(309,606		)	(10,108		)	150			—			(319,564		)
Other	(30,961		)	6,852			2,977			361			(20,771		)
Other income (expense), net	(339,185		)	9,176			6,643			361			(323,005		)
Income (loss) before income taxes	$	247,042		$	20,813		$	(68,960	)	$	—		$	198,895



	Servicing		Lending		Corporate Items and Other		Corporate Eliminations		Business Segments Consolidated
Total Assets
September 30, 2014	$	6,059,359	$	1,706,964	$	589,317	$	—	$	8,355,640

December 31, 2013	$	6,295,976	$	1,195,812	$	435,215	$	—	$	7,927,003

September 30, 2013	$	4,086,378	$	704,641	$	609,236	$	—	$	5,400,255


(1)	Depreciation and amortization expense are as follows:



	Servicing		Lending		Corporate Items and Other		Business Segments Consolidated
For the three months ended September 30, 2014
Depreciation expense	$	2,636	$	98	$	3,022	$	5,756
Amortization of mortgage servicing rights	60,689		94		—		60,783
Amortization of debt discount	331		—		344		675
Amortization of debt issuance costs	1,114		—		—		1,114

For the three months ended September 30, 2013
Depreciation expense	$	3,589	$	135	$	2,973	$	6,697
Amortization of mortgage servicing rights	79,035		148		—		79,183
Amortization of debt discount	330		—		—		330
Amortization of debt issuance costs	1,178		—		—		1,178

For the nine months ended September 30, 2014
Depreciation expense	$	8,099	$	235	$	8,267	$	16,601
Amortization of mortgage servicing rights	185,263		613		199		186,075
Amortization of debt discount	991		—		513		1,504
Amortization of debt issuance costs	3,241		—		—		3,241

For the nine months ended September 30, 2013
Depreciation expense	$	9,968	$	209	$	6,976	$	17,153
Amortization of mortgage servicing rights	197,287		148		—		197,435
Amortization of debt discount	1,082		—		—		1,082
Amortization of debt issuance costs	3,264		—		—		3,264

(2)

Includes interest expense related to financing liabilities recorded in connection with the HLSS Transactions. As discussed in Note 1A — Restatement of Previously Issued Consolidated Financial Statements, we are restating our previously reported consolidated operating results for the three and nine months ended September 30, 2013 to correct an error in the accounting applicable to the financing liabilities in connection with Rights to MSRs sold to HLSS.

Depreciation and Amortization [Member]

Segment Reporting Information [Line Items]

Schedule of Segment Reporting Information

Depreciation and amortization expense are as follows:



	Servicing		Lending		Corporate Items and Other		Business Segments Consolidated
For the three months ended September 30, 2014
Depreciation expense	$	2,636	$	98	$	3,022	$	5,756
Amortization of mortgage servicing rights	60,689		94		—		60,783
Amortization of debt discount	331		—		344		675
Amortization of debt issuance costs	1,114		—		—		1,114

For the three months ended September 30, 2013
Depreciation expense	$	3,589	$	135	$	2,973	$	6,697
Amortization of mortgage servicing rights	79,035		148		—		79,183
Amortization of debt discount	330		—		—		330
Amortization of debt issuance costs	1,178		—		—		1,178

For the nine months ended September 30, 2014
Depreciation expense	$	8,099	$	235	$	8,267	$	16,601
Amortization of mortgage servicing rights	185,263		613		199		186,075
Amortization of debt discount	991		—		513		1,504
Amortization of debt issuance costs	3,241		—		—		3,241

For the nine months ended September 30, 2013
Depreciation expense	$	9,968	$	209	$	6,976	$	17,153
Amortization of mortgage servicing rights	197,287		148		—		197,435
Amortization of debt discount	1,082		—		—		1,082
Amortization of debt issuance costs	3,264		—		—		3,264

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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