XML 76 R61.htm IDEA: XBRL DOCUMENT v3.3.1.900
Business Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2015
Segment Reporting Information [Line Items]  
Schedule of Segment Reporting Information
Financial information for our segments is as follows:
 
Servicing
 
Lending
 
Corporate Items and Other
 
Corporate Eliminations
 
Business Segments Consolidated
Results of Operations
 
 
 
 
 
 
 
 
 
For the year ended December 31, 2015
 
 
 
 
 
 
 
 
 
Revenue (1)
$
1,613,537

 
$
124,724

 
$
2,895

 
$
(58
)
 
$
1,741,098

 
 
 
 
 
 
 
 
 
 
Expenses (1) (2)
1,221,879

 
97,692

 
158,671

 
(58
)
 
1,478,184

 
 
 
 
 
 
 
 
 
 
Other income (expense):
 
 
 
 
 
 
 
 
 
Interest income
1,044

 
14,669

 
2,607

 
—

 
18,320

Interest expense
(446,377
)
 
(9,859
)
 
(26,137
)
 
—

 
(482,373
)
Gain on sale of mortgage servicing rights, net
83,921

 
—

 
—

 
—

 
83,921

Other (1)
(14,370
)
 
2,123

 
(396
)
 
—

 
(12,643
)
Other income (expense), net
(375,782
)
 
6,933

 
(23,926
)
 
—

 
(392,775
)
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
$
15,876

 
$
33,965

 
$
(179,702
)
 
$
—

 
$
(129,861
)
 
 
 
 
 
 
 
 
 
 
For the year ended December 31, 2014
 
 
 
 
 
 
 
 
 
Revenue (1)
$
1,985,436

 
$
119,220

 
$
6,825

 
$
(156
)
 
$
2,111,325

 
 
 
 
 
 
 
 
 
 
Expenses (1) (2)
1,643,323

 
156,272

 
235,769

 
(156
)
 
2,035,208

 
 
 
 
 
 
 
 
 
 
Other income (expense):
 
 
 
 
 
 
 
 
 
Interest income
2,981

 
16,459

 
3,551

 
—

 
22,991

Interest expense
(515,141
)
 
(10,725
)
 
(15,891
)
 
—

 
(541,757
)
Other (1)
(4,043
)
 
4,476

 
(943
)
 
—

 
(510
)
Other income (expense), net
(516,203
)
 
10,210

 
(13,283
)
 
—

 
(519,276
)
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
$
(174,090
)
 
$
(26,842
)
 
$
(242,227
)
 
$
—

 
$
(443,159
)
 
 
 
 
 
 
 
 
 
 
 
Servicing
 
Lending
 
Corporate Items and Other
 
Corporate Eliminations
 
Business Segments Consolidated
For the year ended December 31, 2013
 
 
 
 
 
 
 
 
 
Revenue (1)
$
1,895,921

 
$
120,899

 
$
22,092

 
$
(639
)
 
$
2,038,273

 
 
 
 
 
 
 
 
 
 
Expenses (1) (2)
1,096,084

 
98,194

 
107,188

 
(172
)
 
1,301,294

 
 
 
 
 
 
 
 
 
 
Other income (expense):
 

 
 

 
 

 
 

 
 

Interest income
1,599

 
16,295

 
4,461

 
—

 
22,355

Interest expense
(381,477
)
 
(13,508
)
 
(601
)
 
—

 
(395,586
)
Other (1)
(28,292
)
 
10,132

 
6,424

 
467

 
(11,269
)
Other income (expense), net
(408,170
)
 
12,919

 
10,284

 
467

 
(384,500
)
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
$
391,667

 
$
35,624

 
$
(74,812
)
 
$
—

 
$
352,479

 
Servicing
 
Lending
 
Corporate Items and Other
 
Corporate Eliminations
 
Business Segments Consolidated
Total Assets
 

 
 

 
 

 
 

 
 

December 31, 2015
$
4,109,076

 
$
2,811,154

 
$
484,579

 
$
—

 
$
7,404,809

 
 
 
 
 
 
 
 
 
 
December 31, 2014
$
5,881,862

 
$
1,963,729

 
$
421,687

 
$
—

 
$
8,267,278

 
 
 
 
 
 
 
 
 
 
December 31, 2013
$
6,295,976

 
$
1,195,812

 
$
435,215

 
$
—

 
$
7,927,003

(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)Depreciation and amortization expense are as follows:
 
Servicing
 
Lending
 
Corporate Items and Other
 
Business Segments Consolidated
For the year ended December 31, 2015:
 

 
 

 
 

 
 

Depreciation expense
$
2,990

 
$
380

 
$
15,789

 
$
19,159

Amortization of mortgage servicing rights
98,849

 
345

 
—

 
99,194

Amortization of debt discount
2,680

 
—

 
—

 
2,680

Amortization of debt issuance costs
21,269

 
—

 
1,395

 
22,664

 
 
 
 
 
 
 
 
For the year ended December 31, 2014:
 

 
 

 
 

 
 

Depreciation expense
$
9,955

 
$
332

 
$
11,623

 
$
21,910

Amortization of mortgage servicing rights
249,471

 
705

 
199

 
250,375

Amortization of debt discount
1,318

 
—

 
—

 
1,318

Amortization of debt issuance costs
4,294

 
—

 
845

 
5,139

 
 
 
 
 
 
 
 
For the year ended December 31, 2013:
 

 
 

 
 

 
 

Depreciation expense
$
13,525

 
$
320

 
$
10,400

 
$
24,245

Amortization of mortgage servicing rights
282,526

 
255

 
—

 
282,781

Amortization of debt discount
1,412

 
—

 
—

 
1,412

Amortization of debt issuance costs
4,395

 
—

 
—

 
4,395
Depreciation and Amortization [Member]  
Segment Reporting Information [Line Items]  
Schedule of Segment Reporting Information
Depreciation and amortization expense are as follows:
 
Servicing
 
Lending
 
Corporate Items and Other
 
Business Segments Consolidated
For the year ended December 31, 2015:
 

 
 

 
 

 
 

Depreciation expense
$
2,990

 
$
380

 
$
15,789

 
$
19,159

Amortization of mortgage servicing rights
98,849

 
345

 
—

 
99,194

Amortization of debt discount
2,680

 
—

 
—

 
2,680

Amortization of debt issuance costs
21,269

 
—

 
1,395

 
22,664

 
 
 
 
 
 
 
 
For the year ended December 31, 2014:
 

 
 

 
 

 
 

Depreciation expense
$
9,955

 
$
332

 
$
11,623

 
$
21,910

Amortization of mortgage servicing rights
249,471

 
705

 
199

 
250,375

Amortization of debt discount
1,318

 
—

 
—

 
1,318

Amortization of debt issuance costs
4,294

 
—

 
845

 
5,139

 
 
 
 
 
 
 
 
For the year ended December 31, 2013:
 

 
 

 
 

 
 

Depreciation expense
$
13,525

 
$
320

 
$
10,400

 
$
24,245

Amortization of mortgage servicing rights
282,526

 
255

 
—

 
282,781

Amortization of debt discount
1,412

 
—

 
—

 
1,412

Amortization of debt issuance costs
4,395

 
—

 
—

 
4,395