XML 17 R55.htm IDEA: XBRL DOCUMENT v3.3.0.814
Fair Value - Schedule of Reconciliation of Changes in Fair Value of Level 3 Assets and Liabilities (Details) - Level 3 [Member] - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning balance $ 350,737 $ (443,846) $ (406,749) $ (514,891)
Purchases, issuances, sales and settlements:        
Purchases 2,084 0 2,201 7,700
Issuances (20,468) 18,114 (24,061) (6,361)
Transfer from MSRs, at amortized cost     839,157  
Transfer from loans held for sale, at fair value       110,874
Sales (2,329) 0 (71,318) 0
Settlements 23,303 (5,112) 56,745 [1] (16,453)
Purchases, issuances, sales and settlements, total 2,590 13,002 802,724 95,760
Total realized and unrealized gains and (losses):        
Included in earnings (26,089) 636 (68,737) [2] (11,077)
Included in Other comprehensive income 0 0 0 [2] 0
Total realized and unrealized gains and (losses) (26,089) 636 (68,737) [2] (11,077)
Transfers in and / or out of Level 3 0 0 0 0
Ending balance 327,238 (430,208) 327,238 (430,208)
Loans Held for Investment - Reverse Mortgages [Member]        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning balance 2,097,192 1,107,626 1,550,141 618,018
Purchases, issuances, sales and settlements:        
Purchases 0 0 0 0
Issuances 250,600 208,566 781,002 565,670
Transfer from MSRs, at amortized cost     0  
Transfer from loans held for sale, at fair value       110,874
Sales 0 0 0 0
Settlements (41,582) (27,592) (105,505) [1] (56,193)
Purchases, issuances, sales and settlements, total 209,018 180,974 675,497 620,351
Total realized and unrealized gains and (losses):        
Included in earnings 13,305 26,724 93,877 [2] 76,955
Included in Other comprehensive income 0 0 0 [2] 0
Total realized and unrealized gains and (losses) 13,305 26,724 93,877 [2] 76,955
Transfers in and / or out of Level 3 0 0 0 0
Ending balance 2,319,515 1,315,324 2,319,515 1,315,324
HMBS - Related Borrowings [Member]        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning balance (1,987,998) (1,033,712) (1,444,252) (615,576)
Purchases, issuances, sales and settlements:        
Purchases 0 0 0 0
Issuances (271,068) (190,452) (803,924) (572,031)
Transfer from MSRs, at amortized cost     0  
Transfer from loans held for sale, at fair value       0
Sales 0 0 0 0
Settlements 43,725 12,690 107,522 [1] 25,725
Purchases, issuances, sales and settlements, total (227,343) (177,762) (696,402) (546,306)
Total realized and unrealized gains and (losses):        
Included in earnings (14,263) (24,620) (88,950) [2] (74,212)
Included in Other comprehensive income 0 0 0 [2] 0
Total realized and unrealized gains and (losses) (14,263) (24,620) (88,950) [2] (74,212)
Transfers in and / or out of Level 3 0 0 0 0
Ending balance (2,229,604) (1,236,094) (2,229,604) (1,236,094)
Mortgage-Backed Securities [Member]        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning balance 8,157 7,502 7,335 0
Purchases, issuances, sales and settlements:        
Purchases 0 0 0 7,677
Issuances 0 0 0 0
Transfer from MSRs, at amortized cost     0  
Transfer from loans held for sale, at fair value       0
Sales 0 0 0 0
Settlements 0 0 0 [1] 0
Purchases, issuances, sales and settlements, total 0 0 0 7,677
Total realized and unrealized gains and (losses):        
Included in earnings 384 (124) 1,206 [2] (299)
Included in Other comprehensive income 0 0 0 [2] 0
Total realized and unrealized gains and (losses) 384 (124) 1,206 [2] (299)
Transfers in and / or out of Level 3 0 0 0 0
Ending balance 8,541 7,378 8,541 7,378
Financing Liability - MSRs Pledged [Member]        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning balance (581,219) (629,579) (614,441) (633,804)
Purchases, issuances, sales and settlements:        
Purchases 0 0 0 0
Issuances 0 0 0 0
Transfer from MSRs, at amortized cost     0  
Transfer from loans held for sale, at fair value       0
Sales 0 0 0 0
Settlements 21,160 10,724 54,382 [1] 14,949
Purchases, issuances, sales and settlements, total 21,160 10,724 54,382 14,949
Total realized and unrealized gains and (losses):        
Included in earnings 0 0 0 [2] 0
Included in Other comprehensive income 0 0 0 [2] 0
Total realized and unrealized gains and (losses) 0 0 0 [2] 0
Transfers in and / or out of Level 3 0 0 0 0
Ending balance (560,059) (618,855) (560,059) (618,855)
Derivatives [Member]        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning balance 155 97 567 442
Purchases, issuances, sales and settlements:        
Purchases 2,084 0 2,201 23
Issuances 0 $ 0 0 0
Transfer from MSRs, at amortized cost     0  
Transfer from loans held for sale, at fair value       0
Sales 0 0 0
Settlements 0 $ 0 346 [1] 0
Purchases, issuances, sales and settlements, total 2,084 0 2,547 23
Total realized and unrealized gains and (losses):        
Included in earnings (738) (6) (1,613) [2] (374)
Included in Other comprehensive income 0 0 0 [2] 0
Total realized and unrealized gains and (losses) (738) (6) (1,613) [2] (374)
Transfers in and / or out of Level 3 0 0 0 0
Ending balance 1,501 91 1,501 91
MSRs [Member]        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning balance 814,450 104,220 93,901 116,029
Purchases, issuances, sales and settlements:        
Purchases 0 0 0 0
Issuances 0 0 (1,139) 0
Transfer from MSRs, at amortized cost     839,157  
Transfer from loans held for sale, at fair value       0
Sales (2,329) 0 (71,318) 0
Settlements 0 (934) 0 [1] (934)
Purchases, issuances, sales and settlements, total (2,329) (934) 766,700 (934)
Total realized and unrealized gains and (losses):        
Included in earnings (24,777) (1,338) (73,257) [2] (13,147)
Included in Other comprehensive income 0 0 0 [2] 0
Total realized and unrealized gains and (losses) (24,777) (1,338) (73,257) [2] (13,147)
Transfers in and / or out of Level 3 0 0 0 0
Ending balance $ 787,344 $ 101,948 $ 787,344 $ 101,948
[1] In the event of a transfer to another party of servicing related to Rights to MSRs, we are required to reimburse New Residential Investment Corp. (NRZ) at predetermined contractual rates for the loss of servicing revenues. Settlements for Financing liability - MSRs pledged for the nine months ended September 30, 2015 includes $2.2 million of such reimbursements.
[2] Total losses attributable to derivative financial instruments still held at September 30, 2015 were $1.3 million for the nine months ended September 30, 2015.