[1]

Depreciation and amortization expense are as follows: Servicing Lending Corporate Items and Other Business Segments ConsolidatedFor the three months ended June 30, 2015 Depreciation expense$513 $92 $3,470 $4,075Amortization of mortgage servicing rights31,499 87 — 31,586Amortization of debt discount337 — — 337Amortization of debt issuance costs 3,183 — 373 3,556 For the three months ended June 30, 2014 Depreciation expense$2,643 $32 $2,631 $5,306Amortization of mortgage servicing rights62,794 404 — 63,198Amortization of debt discount330 — — 330Amortization of debt issuance costs 1,040 — 170 1,210 For the six months ended June 30, 2015 Depreciation expense$1,042 $197 $7,181 $8,420Amortization of mortgage servicing rights69,903 177 — 70,080Amortization of debt discount693 — — 693Amortization of debt issuance costs 6,606 — 705 7,311 For the six months ended June 30, 2014 Depreciation expense$5,463 $138 $5,245 $10,846Amortization of mortgage servicing rights124,574 519 199 125,292Amortization of debt discount661 — — 661Amortization of debt issuance costs 2,127 — 170 2,297

[2]

Includes interest expense related to financing liabilities recorded in connection with the NRZ/HLSS Transactions as indicated in the table below. Three months Six Months2015 2014 2015 2014Servicing fees collected on behalf of NRZ$175,108 $185,797 $355,405 $375,021Less: Subservicing fee retained by Ocwen89,991 90,851 181,205 181,675Net servicing fees remitted to NRZ85,117 94,946 174,200 193,346Less: Reduction in financing liability13,276 4,820 30,999 4,224Interest expense on NRZ financing liability$71,841$90,126 $143,201 $189,122

[3]

Interest expense that we expect to be paid on the HMBS-related borrowings is included with net fair value gains in Other revenues.