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Loans Held for Sale - Summary of Activity in the Balance of Loans Held for Sale, at Lower of Cost or Fair Value (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Receivables [Abstract]              
Gain on loans held for sale, net $ 27,298 $ 27,218 $ 116,934 $ 110,041 $ 134,297 $ 121,694 $ 215
Movement In Loans Held For Sale At Fair Value [Roll Forward]              
Beginning balance     87,492 [1],[2],[3] 62,907 [1],[2],[3] 62,907 [1],[2],[3] 82,866 [1],[2],[3] 20,633
Purchases     769,631 2,083,282 2,462,573 1,632,390 65,756
Proceeds from sales     (577,591) (1,744,273) (2,067,965) (1,036,316) 0
Principal payments     (45,137) (248,552) (262,196) (432,423) (1,474)
Transfers to accounts receivable     (4,811) (96,257) (114,675) (218,629) 0
Transfers to real estate owned     (18,479) (4,575) (8,808) (4,775) (999)
Gain on sale of loans     38,327 32,471 31,853 35,087 0
Decrease (increase) in valuation allowance     37,998 (16,282) (18,965) (10,644) 568
Other     3,633 3,216 2,768 15,351 (1,618)
Ending balance $ 291,063 [4],[5] $ 71,937 [4],[5] $ 291,063 [4],[5] $ 71,937 [4],[5] $ 87,492 [1],[2],[3] $ 62,907 [1],[2],[3] $ 82,866 [1],[2],[3]
[1] The balance at December 31, 2012 includes non-performing mortgage loans with a carrying value of $65.4 million that we acquired in December 2012 and sold to Altisource Residential, LP in February 2013 for an insignificant gain.
[2] The balances at December 31, 2014 and 2013 includes $42.0 million and $43.1 million, respectively, of loans that we were required to repurchase from Ginnie Mae guaranteed securitizations as part of our contractual obligations as the servicer of the loans. Repurchased loans are modified or otherwise remediated through loss mitigation activities or are reclassified to receivables.
[3] The balances at December 31, 2014, 2013 and 2012 are net of valuation allowances of $49.7 million, $30.7 million and $14.7 million, respectively. The change in the valuation allowance for the years ended December 31, 2014 and 2013 includes adjustments of $20.4 million and $15.7 million, respectively, from the liability for indemnification obligations for the initial valuation adjustment that we recognized on certain loans that we repurchased from Fannie Mae and Freddie Mac guaranteed securitizations.
[4] At September 30, 2015 and September 30, 2014, the balances are net of valuation allowances of $15.4 million and $47.0 million, respectively. The decrease in the valuation allowance for the nine months ended September 30, 2015 resulted principally from the reversal of $37.8 million of the allowance that was associated with loans that were sold to unrelated third parties during the six months ended June 30, 2015. This decrease was partly offset by an increase of $1.1 million in the allowance resulting from transfers from the liability for indemnification obligations for the initial valuation adjustment that we recognized on certain loans that we repurchased from Fannie Mae and Freddie Mac guaranteed securitizations. For the nine months ended September 30, 2014, the increase in the allowance was principally the result of $15.3 million of such transfers from the liability for indemnification obligations.
[5] At September 30, 2015 and September 30, 2014, the balances include $98.7 million and $24.1 million, respectively, of loans that we were required to repurchase from Ginnie Mae guaranteed securitizations as part of our servicing obligations. Repurchased loans are modified or otherwise remediated through loss mitigation activities or are reclassified to receivables.