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Other Assets - Schedule of Other Assets (Details) - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Other Assets [Abstract]    
Contingent loan repurchase asset [1] $ 310,373 $ 274,265
Debt service accounts [2] 123,023 91,974
Prepaid expenses 57,572 17,957
Prepaid lender fees and debt issuance costs, net 51,937 31,337
Real estate 18,247 16,720
Prepaid income taxes 12,921 16,450
Derivatives, at fair value 10,010 6,065
Mortgage backed securities, at fair value 8,541 7,335
Other 16,655 28,708
Other assets $ 609,279 $ 490,811
[1] In connection with the Ginnie Mae EBO Transactions, our agreements provide either that: (a) we have the right, but not the obligation, to repurchase previously transferred mortgage loans under certain conditions, including the mortgage loans becoming eligible for pooling under a program sponsored by Ginnie Mae, or (b) we have the obligation to repurchase previously transferred mortgage loans that have been subject to a successful trial modification before any permanent modification is made. Once these conditions are met, we have effectively regained control over the mortgage loan(s) and under GAAP, must re-recognize the loan on our consolidated balance sheet and establish a corresponding repurchase liability. With respect to those loans that we have the right, but not the obligation, to repurchase under the applicable agreement, this requirement applies regardless of whether we have any intention to repurchase the loan. We re-recognized mortgage loans in Other assets and the corresponding liability in Other liabilities.
[2] Under our advance funding financing facilities, we are contractually required to remit collections on pledged advances to the trustee within two days of receipt. The collected funds are not applied to reduce the related match funded debt until the payment dates specified in the indenture. The balances also include amounts that have been set aside from the proceeds of our match funded advance facilities and certain of our warehouse facilities to provide for possible shortfalls in the funds available to pay certain expenses and interest. The funds related to match funded facilities are held in interest earning accounts in the name of the SPE created in connection with the facility.