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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Income Before Taxes

For income tax purposes, the components of income (loss) before taxes were as follows for the years ended December 31:

	2014				2013				2012
Domestic	$	(401,741	)		$	76,957			$	176,075
Foreign	(41,418		)		275,522				81,433
	$	(443,159	)		$	352,479			$	257,508

Schedule of Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) were as follows for the years ended December 31:

	2014				2013				2012
Current:
Federal	$	(20,824	)		$	58,507			$	10,621
State	(403		)		14,691				(759		)
Foreign	9,195				15,545				2,968
	(12,032		)		88,743				12,830
Deferred:
Federal	41,986				(53,711		)		62,704
State	(997		)		(4,325		)		(431		)
Foreign	(6,162		)		(4,410		)		1,482
Provision for valuation allowance on deferred tax assets	3,601				15,764				—
	38,428				(46,682		)		63,755
Total	$	26,396			$	42,061			$	76,585

Schedule of Effective Income Tax Reconciliation

Income tax expense differs from the amounts computed by applying the U.S. Federal corporate income tax rate of 35% as follows for the years ended December 31:

	2014				2013				2012
Expected income tax expense at statutory rate	$	(155,106	)		$	123,368			$	90,127
Differences between expected and actual income tax expense:
Impairment of goodwill	92,034				—				—
State tax, after Federal tax benefit	(1,084		)		5,639				(1,184		)
Provision for liability for selected tax items	6,084				12,218				5,558
Non-deductible regulatory settlements	53,375				—				—
Other permanent differences	(254		)		(636		)		15
Foreign tax differential	27,799				(112,997		)		(17,816		)
Provision for valuation allowance on deferred tax assets	3,601				15,764				—
Other	(53		)		(1,295		)		(115		)
Actual income tax expense	$	26,396			$	42,061			$	76,585

Schedule of Deferred Tax Assets and Liabilities

Net deferred tax assets were comprised of the following at December 31:

	2014				2013
Deferred tax assets:
Net operating loss carryforward	$	35,433			$	35,370
Bad debt and allowance for loan losses	10,727				6,397
Partnership losses	10,663				11,085
Intangible asset amortization	10,741				4,728
Accrued legal settlements	7,403				27,320
Reserve for servicing exposure	7,093				20,446
Accrued other liabilities	6,271				7,452
Accrued incentive compensation	5,029				10,037
Tax residuals and deferred income on tax residuals	4,021				3,963
Delinquent servicing fees	3,591				36,480
Stock-based compensation expense	3,431				2,956
Foreign deferred assets	2,568				2,802
Accrued lease termination costs	1,831				1,085
Capital losses	1,464				843
Valuation allowance on real estate	1,007				767
Interest rate swaps	494				743
Other	5,606				10,560
	117,373				183,034
Deferred tax liabilities:
Mortgage servicing rights amortization	14,696				51,619
Foreign undistributed earnings	6,249				—
Other	76				80
	21,021				51,699
	96,352				131,335
Valuation allowance	(19,365		)		(15,764		)
Deferred tax assets, net	$	76,987			$	115,571

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of the total liability for selected tax items is as follows for the years ended December 31:

	2014				2013
Beginning balance	$	27,273			$	22,702
Additions for tax positions of prior years	1,392				4,944
Reductions for tax positions of prior years	(6,010		)		—
Lapses in statute of limitations	(132		)		(373		)
Ending balance	$	22,523			$	27,273

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits, excluding amounts pertaining to examined tax returns.

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