Business Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2015

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 June 30, 2015
Revenue (1)	$	423,207		$	39,312		$	755		$	(23	)	$	463,251

Expenses (1) (2)	284,413			26,586			41,276			(23		)	352,252

Other income (expense):
Interest income	686			3,547			805			—			5,038
Interest expense	(116,101		)	(2,163		)	(6,633		)	—			(124,897		)
Other (1)	21,200			335			(175		)	—			21,360
Other income (expense), net	(94,215		)	1,719			(6,003		)	—			(98,499		)

Income (loss) before income taxes	$	44,579		$	14,445		$	(46,524	)	$	—		$	12,500

Three months ended June 30, 2014
Revenue (1)	$	520,480		$	31,166		$	1,467		$	(39	)	$	553,074

Expenses (1) (2)	298,101			27,164			20,237			(39		)	345,463

Other income (expense):
Interest income	463			4,282			807			—			5,552
Interest expense	(130,630		)	(2,219		)	(3,358		)	—			(136,207		)
Other (1)	(684		)	988			(83		)	—			221
Other income (expense), net	(130,851		)	3,051			(2,634		)	—			(130,434		)

Income (loss) before income taxes	$	91,528		$	7,053		$	(21,404	)	$	—		$	77,177



	Servicing			Lending			Corporate Items and Other			Corporate Eliminations			Business Segments Consolidated
Six months ended June 30, 2015
Revenue	$	894,332		$	77,059		$	2,362		$	(58	)	$	973,695

Expenses (1)	622,325			50,372			57,971			(58		)	730,610

Other income (expense):
Interest income	2,057			7,143			1,413			—			10,613
Interest expense	(226,730		)	(4,802		)	(12,761		)	—			(244,293		)
Other	43,966			1,401			557			—			45,924
Other income (expense), net	(180,707		)	3,742			(10,791		)	—			(187,756		)

Income (loss) before income taxes	$	91,300		$	30,429		$	(66,400	)	$	—		$	55,329

Six months ended June 30, 2014
Revenue	$	1,041,302		$	59,933		$	3,180		$	(80	)	$	1,104,335

Expenses (1)	606,033			58,629			30,075			(80		)	694,657

Other income (expense):
Interest income	902			8,291			1,686			—			10,879
Interest expense (2)	(267,016		)	(5,670		)	(3,394		)	—			(276,080		)
Other	(1,004		)	3,707			1,700			—			4,403
Other income (expense), net	(267,118		)	6,328			(8		)	—			(260,798		)

Income (loss) before income taxes	$	168,151		$	7,632		$	(26,903	)	$	—		$	148,880



	Servicing		Lending		Corporate Items and Other		Corporate Eliminations		Business Segments Consolidated
Total Assets
June 30, 2015	$	5,033,690	$	2,380,776	$	590,173	$	—	$	8,004,639

December 31, 2014	$	5,881,862	$	1,963,729	$	421,687	$	—	$	8,267,278

June 30, 2014	$	6,260,835	$	1,565,389	$	538,678	$	—	$	8,364,902


(1)	Intersegment billings for services rendered to other segments are recorded as revenues, as contra-expense or as other income, depending on the type of service that is rendered.


(2)	Depreciation and amortization expense are as follows:



	Servicing		Lending		Corporate Items and Other		Business Segments Consolidated
For the three months ended June 30, 2015
Depreciation expense	$	513	$	92	$	3,470	$	4,075
Amortization of mortgage servicing rights	31,499		87		—		31,586
Amortization of debt discount	337		—		—		337
Amortization of debt issuance costs	3,183		—		373		3,556

For the three months ended June 30, 2014
Depreciation expense	$	2,643	$	32	$	2,631	$	5,306
Amortization of mortgage servicing rights	62,794		404		—		63,198
Amortization of debt discount	330		—		—		330
Amortization of debt issuance costs	1,040		—		170		1,210

For the six months ended June 30, 2015
Depreciation expense	$	1,042	$	197	$	7,181	$	8,420
Amortization of mortgage servicing rights	69,903		177		—		70,080
Amortization of debt discount	693		—		—		693
Amortization of debt issuance costs	6,606		—		705		7,311

For the six months ended June 30, 2014
Depreciation expense	$	5,463	$	138	$	5,245	$	10,846
Amortization of mortgage servicing rights	124,574		519		199		125,292
Amortization of debt discount	661		—		—		661
Amortization of debt issuance costs	2,127		—		170		2,297

Depreciation and amortization expense are as follows:



	Servicing		Lending		Corporate Items and Other		Business Segments Consolidated
For the three months ended June 30, 2015
Depreciation expense	$	513	$	92	$	3,470	$	4,075
Amortization of mortgage servicing rights	31,499		87		—		31,586
Amortization of debt discount	337		—		—		337
Amortization of debt issuance costs	3,183		—		373		3,556

For the three months ended June 30, 2014
Depreciation expense	$	2,643	$	32	$	2,631	$	5,306
Amortization of mortgage servicing rights	62,794		404		—		63,198
Amortization of debt discount	330		—		—		330
Amortization of debt issuance costs	1,040		—		170		1,210

For the six months ended June 30, 2015
Depreciation expense	$	1,042	$	197	$	7,181	$	8,420
Amortization of mortgage servicing rights	69,903		177		—		70,080
Amortization of debt discount	693		—		—		693
Amortization of debt issuance costs	6,606		—		705		7,311

For the six months ended June 30, 2014
Depreciation expense	$	5,463	$	138	$	5,245	$	10,846
Amortization of mortgage servicing rights	124,574		519		199		125,292
Amortization of debt discount	661		—		—		661
Amortization of debt issuance costs	2,127		—		170		2,297