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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities    
Net income (loss) $ (111,201) $ 34,389
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization of mortgage servicing rights 12,806 38,494
Loss on valuation of mortgage servicing rights, at fair value 29,293 33,175
Impairment of mortgage servicing rights 29,953 17,769
Gain on sale of mortgage servicing rights (1,175) (26,406)
Realized and unrealized losses on derivative financial instruments 1,496 1,153
Provision for bad debts 11,382 14,170
Depreciation 5,039 4,344
Amortization of debt issuance costs 3,277 3,755
Increase in deferred tax assets 0 (890)
Equity-based compensation expense 1,416 2,117
Gain on loans held for sale, net (15,572) (44,504)
Origination and purchase of loans held for sale (1,211,076) (1,036,150)
Proceeds from sale and collections of loans held for sale 1,165,503 1,142,282
Changes in assets and liabilities:    
Decrease in advances and match funded advances 109,076 104,258
Decrease in receivables and other assets, net 84,512 1,330
Increase in other liabilities 21,473 20,127
Other, net 4,686 15,605
Net cash provided by operating activities 140,888 325,018
Cash flows from investing activities    
Origination of loans held for investment – reverse mortgages (304,058) (235,271)
Principal payments received on loans held for investment - reverse mortgages 87,237 26,170
Purchase of mortgage servicing rights, net (4,263) (3,267)
Proceeds from sale of mortgage servicing rights 15,305 49,465
Proceeds from sale of advances and match funded advances 41,003 1,765
Additions to premises and equipment (19,800) (3,918)
Other 1,624 301
Net cash used in investing activities (182,952) (164,755)
Cash flows from financing activities    
Repayment of match funded liabilities (46,953) (89,571)
Proceeds from other secured borrowings 1,902,472 1,858,258
Repayments of other secured borrowings (2,014,474) (2,042,969)
Payment of debt issuance costs (2,242) (12,643)
Proceeds from sale of loans accounted for as a financing 233,174 238,615
Proceeds from sale of advances accounted for as a financing 0 472
Repurchase of common stock (5,890) 0
Proceeds from exercise of common stock options 406 413
Other (1,188) 21
Net cash provided by (used in) financing activities 65,305 (47,404)
Net increase in cash 23,241 112,859
Cash at beginning of year 257,272 129,473
Cash at end of period $ 280,513 $ 242,332