XML 59 R53.htm IDEA: XBRL DOCUMENT v3.3.0.814
Fair Value - Schedule of Fair Value Assets and Liabilities (Details) - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Sep. 30, 2014
Dec. 31, 2013
Loans held for sale:        
Loans held for sale, at fair value $ 235,909 $ 401,120 $ 335,950 $ 503,753
Total Loans held for sale 526,972 488,612    
Financial liabilities:        
Match funded liabilities 1,589,846 2,090,247    
Financing liabilities:        
Total Financing liabilities 2,953,518 2,258,641    
Other secured borrowings:        
Total Other secured borrowings 1,001,070 1,733,691    
Senior unsecured notes 350,000 350,000    
MSRs:        
Mortgage servicing rights, at fair value 787,344 93,901    
Total MSRs 1,153,295 1,913,992    
Carrying Value [Member]        
Loans held for sale:        
Total Loans held for sale 526,972 488,612    
Financing liabilities:        
Total Financing liabilities 2,953,518 2,258,641    
Other secured borrowings:        
Total Other secured borrowings 1,001,070 1,733,691    
MSRs:        
Total MSRs 1,153,295 1,913,992    
Carrying Value [Member] | Level 1 [Member] | Forward Mortgage Backed Securities Trades [Member]        
Derivative financial instruments assets (liabilities):        
Forward MBS trades (3,438) (2,854) [1]    
Carrying Value [Member] | Level 2 [Member]        
Loans held for sale:        
Loans held for sale, at fair value 235,909 401,120 [1]    
Other secured borrowings:        
Senior secured term loan 702,918 1,273,219 [2]    
Senior unsecured notes 350,000 350,000 [2]    
Carrying Value [Member] | Level 2 [Member] | Interest Rate Lock Commitments [Member]        
Derivative financial instruments assets (liabilities):        
Interest Rate Lock Commitments (IRLCs) 10,010 6,065 [1]    
Carrying Value [Member] | Level 3 [Member]        
Loans held for sale:        
Loans held for sale, at lower of cost or fair value 291,063 87,492 [3]    
Loans held for investment - Reverse mortgages, at fair value 2,319,515 1,550,141 [1]    
Advances and match funded advances 2,472,996 3,303,356 [2]    
Receivables, net 361,572 270,596 [2]    
Mortgage-backed securities, at fair value 8,541 7,335 [1]    
Financial liabilities:        
Match funded liabilities 1,589,846 2,090,247 [2]    
Financing liabilities:        
HMBS-related borrowings, at fair value 2,229,604 1,444,252 [1]    
Financing liability - MSRs pledged 560,059 614,441 [1]    
Other 163,855 199,948 [2]    
Other secured borrowings:        
Other 298,152 460,472 [2]    
MSRs:        
Mortgage servicing rights, at fair value 787,344 93,901 [1]    
Mortgage servicing rights, at amortized cost 365,951 1,820,091 [2],[4]    
Carrying Value [Member] | Level 3 [Member] | Interest Rate Caps [Member]        
Derivative financial instruments assets (liabilities):        
Interest rate caps 1,501 567 [1]    
Fair Value [Member]        
Loans held for sale:        
Total Loans held for sale 526,972 488,612    
Financing liabilities:        
Total Financing liabilities 2,934,388 2,248,341    
Other secured borrowings:        
Total Other secured borrowings 1,000,549 1,658,699    
MSRs:        
Total MSRs 1,191,877 2,331,604    
Fair Value [Member] | Level 1 [Member] | Forward Mortgage Backed Securities Trades [Member]        
Derivative financial instruments assets (liabilities):        
Forward MBS trades [1] (3,438) (2,854)    
Fair Value [Member] | Level 2 [Member]        
Loans held for sale:        
Loans held for sale, at fair value [1] 235,909 401,120    
Other secured borrowings:        
Senior secured term loan [2] 702,397 1,198,227    
Senior unsecured notes [2] 321,563 321,563    
Fair Value [Member] | Level 2 [Member] | Interest Rate Lock Commitments [Member]        
Derivative financial instruments assets (liabilities):        
Interest Rate Lock Commitments (IRLCs) [1] 10,010 6,065    
Fair Value [Member] | Level 3 [Member]        
Loans held for sale:        
Loans held for sale, at lower of cost or fair value [3] 291,063 87,492    
Loans held for investment - Reverse mortgages, at fair value [1] 2,319,515 1,550,141    
Advances and match funded advances [2] 2,472,996 3,303,356    
Receivables, net [2] 361,572 270,596    
Mortgage-backed securities, at fair value [1] 8,541 7,335    
Financial liabilities:        
Match funded liabilities [2] 1,589,901 2,090,247    
Financing liabilities:        
HMBS-related borrowings, at fair value [1] 2,229,604 1,444,252    
Financing liability - MSRs pledged [1] 560,059 614,441    
Other [2] 144,725 189,648    
Other secured borrowings:        
Other [2] 298,152 460,472    
MSRs:        
Mortgage servicing rights, at fair value [1] 787,344 93,901    
Mortgage servicing rights, at amortized cost 404,533 2,237,703 [2],[4]    
Fair Value [Member] | Level 3 [Member] | Interest Rate Caps [Member]        
Derivative financial instruments assets (liabilities):        
Interest rate caps [1] $ 1,501 $ 567    
[1] Measured at fair value on a recurring basis.
[2] Disclosed, but not carried, at fair value.
[3] Measured at fair value on a non-recurring basis.
[4] The balance at September 30, 2015 includes our impaired government-insured stratum of amortization method MSRs, which is measured at fair value on a non-recurring basis. The carrying value of this stratum at September 30, 2015 was $144.2 million, net of a valuation allowance of $25.1 million.