XML 164 R149.htm IDEA: XBRL DOCUMENT v3.3.1.900
Business Segment Reporting - Schedule of Segment Reporting Information (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Results of Operations                      
Revenue $ 362,457 $ 404,946 $ 463,251 $ 510,444 $ 493,292 $ 513,698 $ 553,074 $ 551,261 $ 1,741,098 [1] $ 2,111,325 [1] $ 2,038,273 [1]
Expenses 359,848 387,726 352,252 378,358 885,512 [2],[3] 455,039 [2],[3] 345,463 [2],[3] 349,194 [2],[3] 1,478,184 [1],[4] 2,035,208 [1],[4] 1,301,294 [1],[4]
Other income (expense):                      
Interest income                 18,320 22,991 22,355
Interest expense                 (482,373) (541,757) (395,586)
Gain on sale of mortgage servicing rights, net (14,000) 41,200 30,300 26,400         83,921 0 0
Other [1]                 (12,643) (510) (11,269)
Total other expense, net (131,881) [5] (73,138) [5] (98,499) [5] (89,257) [5] (127,553) (130,925) (130,434) (130,364) (392,775) (519,276) (384,500)
Income (loss) before income taxes (129,272) $ (55,918) $ 12,500 $ 42,829 (519,773) $ (72,266) $ 77,177 $ 71,703 (129,861) (443,159) 352,479
Total Assets                      
Balance 7,404,809       8,267,278       7,404,809 8,267,278 7,927,003
Servicing [Member]                      
Results of Operations                      
Revenue [1]                 1,613,537 1,985,436 1,895,921
Expenses [1],[4]                 1,221,879 1,643,323 1,096,084
Other income (expense):                      
Interest income                 1,044 2,981 1,599
Interest expense                 (446,377) (515,141) (381,477)
Gain on sale of mortgage servicing rights, net                 83,921    
Other [1]                 (14,370) (4,043) (28,292)
Total other expense, net                 (375,782) (516,203) (408,170)
Income (loss) before income taxes                 15,876 (174,090) 391,667
Total Assets                      
Balance 4,109,076       5,881,862       4,109,076 5,881,862 6,295,976
Lending [Member]                      
Results of Operations                      
Revenue [1]                 124,724 119,220 120,899
Expenses [1],[4]                 97,692 156,272 98,194
Other income (expense):                      
Interest income                 14,669 16,459 16,295
Interest expense                 (9,859) (10,725) (13,508)
Gain on sale of mortgage servicing rights, net                 0    
Other [1]                 2,123 4,476 10,132
Total other expense, net                 6,933 10,210 12,919
Income (loss) before income taxes                 33,965 (26,842) 35,624
Total Assets                      
Balance 2,811,154       1,963,729       2,811,154 1,963,729 1,195,812
Corporate Items and Other [Member]                      
Results of Operations                      
Revenue [1]                 2,895 6,825 22,092
Expenses [1],[4]                 158,671 235,769 107,188
Other income (expense):                      
Interest income                 2,607 3,551 4,461
Interest expense                 (26,137) (15,891) (601)
Gain on sale of mortgage servicing rights, net                 0    
Other [1]                 (396) (943) 6,424
Total other expense, net                 (23,926) (13,283) 10,284
Income (loss) before income taxes                 (179,702) (242,227) (74,812)
Total Assets                      
Balance 484,579       421,687       484,579 421,687 435,215
Corporate Eliminations [Member]                      
Results of Operations                      
Revenue [1]                 (58) (156) (639)
Expenses [1],[4]                 (58) (156) (172)
Other income (expense):                      
Interest income                 0 0 0
Interest expense                 0 0 0
Gain on sale of mortgage servicing rights, net                 0    
Other [1]                 0 0 467
Total other expense, net                 0 0 467
Income (loss) before income taxes                 0 0 0
Total Assets                      
Balance $ 0       $ 0       $ 0 $ 0 $ 0
[1] Intersegment billings for services rendered to other segments are recorded as revenues, as contra-expense or as other income, depending on the type of service that is rendered.
[2] Operating expenses for the fourth quarter of 2014 include the recognition of a goodwill impairment loss of $420.2 million.
[3] Operating expenses for the third and fourth quarter of 2014 include charges of $100.0 million and $50.0 million, respectively, for losses related to a regulatory settlement with the NY DFS. These charges are included in Professional services on the Consolidated Statement of Operations and were recorded in the Corporate Items and Other segment.
[4] Depreciation and amortization expense are as follows: Servicing Lending Corporate Items and Other Business Segments ConsolidatedFor the year ended December 31, 2015: Depreciation expense$2,990 $380 $15,789 $19,159Amortization of mortgage servicing rights98,849 345 — 99,194Amortization of debt discount2,680 — — 2,680Amortization of debt issuance costs 21,269 — 1,395 22,664 For the year ended December 31, 2014: Depreciation expense$9,955 $332 $11,623 $21,910Amortization of mortgage servicing rights249,471 705 199 250,375Amortization of debt discount1,318 — — 1,318Amortization of debt issuance costs 4,294 — 845 5,139 For the year ended December 31, 2013: Depreciation expense$13,525 $320 $10,400 $24,245Amortization of mortgage servicing rights282,526 255 — 282,781Amortization of debt discount1,412 — — 1,412Amortization of debt issuance costs 4,395 — — 4,395
[5] Other income (expense), net for 2015 includes gains (losses) on the sale of MSRs in the first, second, third and fourth quarter of $26.4 million, $30.3 million, $41.2 million and $(14.0) million, respectively.