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Business Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2016
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
 
 
 
 
 
 
 
 
 
Three months ended June 30, 2016
Revenue (1)
$
325,120

 
$
35,376

 
$
12,558

 
$

 
$
373,054

 
 
 
 
 
 
 
 
 
 
Expenses (1) (2)
260,275

 
28,657

 
96,086

 

 
385,018

 
 
 
 
 
 
 
 
 
 
Other income (expense):
 
 
 
 
 
 
 
 
 
Interest income
(15
)
 
4,204

 
951

 

 
5,140

Interest expense
(81,197
)
 
(3,697
)
 
(6,139
)
 

 
(91,033
)
Gain on sale of mortgage servicing rights, net
853

 

 

 

 
853

Other (1)
806

 
308

 
(508
)
 

 
606

Other income (expense), net
(79,553
)
 
815

 
(5,696
)
 

 
(84,434
)
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
$
(14,708
)
 
$
7,534

 
$
(89,224
)
 
$

 
$
(96,398
)
 
 
 
 
 
 
 
 
 
 
Three months ended June 30, 2015
Revenue (1)
$
423,207

 
$
39,312

 
$
755

 
$
(23
)
 
$
463,251

 
 
 
 
 
 
 
 
 
 
Expenses (1) (2)
284,413

 
26,586

 
41,276

 
(23
)
 
352,252

 


 


 


 


 


Other income (expense):
 
 
 
 
 
 
 
 
 
Interest income
686

 
3,547

 
805

 

 
5,038

Interest expense
(116,101
)
 
(2,163
)
 
(6,633
)
 

 
(124,897
)
Gain on sale of mortgage servicing rights, net
30,306

 

 

 

 
30,306

Other (1)
(9,106
)
 
335

 
(175
)
 

 
(8,946
)
Other income (expense), net
(94,215
)
 
1,719

 
(6,003
)
 

 
(98,499
)
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
$
44,579

 
$
14,445

 
$
(46,524
)
 
$

 
$
12,500

 
 
 
 
 
 
 
 
 
 
 
Servicing
 
Lending
 
Corporate Items and Other
 
Corporate Eliminations
 
Business Segments Consolidated
Six months ended June 30, 2016
Revenue (1)
$
632,547

 
$
58,660

 
$
12,604

 
$

 
$
703,811

 
 
 
 
 
 
 
 
 
 
Expenses (1) (2)
537,171

 
50,457

 
126,047

 

 
713,675

 
 
 
 
 
 
 
 
 
 
Other income (expense):
 
 
 
 
 
 
 
 
 
Interest income
(161
)
 
7,815

 
1,676

 

 
9,330

Interest expense
(177,670
)
 
(7,145
)
 
(12,307
)
 

 
(197,122
)
Gain on sale of mortgage servicing rights, net
2,028

 

 

 

 
2,028

Other (1)
(2,537
)
 
659

 
(1,017
)
 

 
(2,895
)
Other income (expense), net
(178,340
)
 
1,329

 
(11,648
)
 

 
(188,659
)
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
$
(82,964
)
 
$
9,532

 
$
(125,091
)
 
$

 
$
(198,523
)
 
 
 
 
 
 
 
 
 
 
Six months ended June 30, 2015
Revenue (1)
$
894,332

 
$
77,059

 
$
2,362

 
$
(58
)
 
$
973,695

 
 
 
 
 
 
 
 
 
 
Expenses (1) (2)
622,325

 
50,372

 
57,971

 
(58
)
 
730,610

 
 
 
 
 
 
 
 
 
 
Other income (expense):
 
 
 
 
 
 
 
 
 
Interest income
2,057

 
7,143

 
1,413

 

 
10,613

Interest expense
(226,730
)
 
(4,802
)
 
(12,761
)
 

 
(244,293
)
Gain on sale of mortgage servicing rights, net
56,712

 

 

 

 
56,712

Other (1)
(12,746
)
 
1,401

 
557

 

 
(10,788
)
Other income (expense), net
(180,707
)
 
3,742

 
(10,791
)
 

 
(187,756
)
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
$
91,300

 
$
30,429

 
$
(66,400
)
 
$

 
$
55,329

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

 
 

 
 

 
 

 
 

June 30, 2016
$
3,630,920

 
$
3,424,801

 
$
432,531

 
$

 
$
7,488,252

 
 
 
 
 
 
 
 
 
 
December 31, 2015
$
4,089,064

 
$
2,811,154

 
$
480,090

 
$

 
$
7,380,308

 
 
 
 
 
 
 
 
 
 
June 30, 2015
$
5,003,108

 
$
2,381,119

 
$
585,023

 
$

 
$
7,969,250


(1)
Inter-segment 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 three months ended June 30, 2016
Depreciation expense
$
1,206

 
$
65

 
$
5,539

 
$
6,810

Amortization of mortgage servicing rights
8,269

 
78

 

 
8,347

Amortization of debt discount
178

 

 

 
178

Amortization of debt issuance costs
2,889

 

 
332

 
3,221

 
 
 
 
 
 
 
 
For the three months ended June 30, 2015
Depreciation expense
$
513

 
$
92

 
$
3,470

 
$
4,075

Amortization of mortgage servicing rights
31,499

 
87

 

 
31,586

Amortization of debt discount
337

 

 

 
337

Amortization of debt issuance costs
3,183

 

 
373

 
3,556

 
 
 
 
 
 
 
 
For the six months ended June 30, 2016
Depreciation expense
$
2,340

 
$
136

 
$
9,374

 
$
11,850

Amortization of mortgage servicing rights
20,994

 
159

 

 
21,153

Amortization of debt discount
383

 

 

 
383

Amortization of debt issuance costs
5,822

 

 
676

 
6,498

 
 
 
 
 
 
 
 
For the six months ended June 30, 2015
Depreciation expense
$
1,042

 
$
197

 
$
7,181

 
$
8,420

Amortization of mortgage servicing rights
69,903

 
177

 

 
70,080

Amortization of debt discount
693

 

 

 
693

Amortization of debt issuance costs
6,606

 

 
705

 
7,311

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 three months ended June 30, 2016
Depreciation expense
$
1,206

 
$
65

 
$
5,539

 
$
6,810

Amortization of mortgage servicing rights
8,269

 
78

 

 
8,347

Amortization of debt discount
178

 

 

 
178

Amortization of debt issuance costs
2,889

 

 
332

 
3,221

 
 
 
 
 
 
 
 
For the three months ended June 30, 2015
Depreciation expense
$
513

 
$
92

 
$
3,470

 
$
4,075

Amortization of mortgage servicing rights
31,499

 
87

 

 
31,586

Amortization of debt discount
337

 

 

 
337

Amortization of debt issuance costs
3,183

 

 
373

 
3,556

 
 
 
 
 
 
 
 
For the six months ended June 30, 2016
Depreciation expense
$
2,340

 
$
136

 
$
9,374

 
$
11,850

Amortization of mortgage servicing rights
20,994

 
159

 

 
21,153

Amortization of debt discount
383

 

 

 
383

Amortization of debt issuance costs
5,822

 

 
676

 
6,498

 
 
 
 
 
 
 
 
For the six months ended June 30, 2015
Depreciation expense
$
1,042

 
$
197

 
$
7,181

 
$
8,420

Amortization of mortgage servicing rights
69,903

 
177

 

 
70,080

Amortization of debt discount
693

 

 

 
693

Amortization of debt issuance costs
6,606

 

 
705

 
7,311