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Mortgage Servicing - Summary of Activity in Carrying Value of Amortization Method Servicing Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Servicing Asset at Amortized Cost, Balance [Roll Forward]      
Fair value election - transfer of MSRs carried at fair value $ 0 $ (787,142)  
Estimated fair value at end of year 679,256 761,190 $ 93,901
Mortgage Servicing Rights - Amortized Costs [Member]      
Servicing Asset at Amortized Cost, Balance [Roll Forward]      
Beginning balance 377,379 1,820,091 1,953,352
Fair value election - transfer of MSRs carried at fair value [1] 0 (787,142) 0
Additions recognized in connection with business acquisitions [2],[3] 0 0 20,378
Additions recognized in connection with asset acquisitions 17,356 12,356 35,326
Additions recognized on the sale of mortgage loans 37,231 34,961 63,310
Sales (24,452) (586,352) (137)
Servicing transfers and adjustments 0 0 (1,763)
Mortgage servicing rights, gross 407,514 493,914 2,070,466
Increase in impairment valuation allowance [4] (10,813) (17,341) 0
Amortization (32,979) (99,194) (250,375)
Ending balance 363,722 377,379 1,820,091
Estimated fair value at end of year $ 467,911 $ 461,555 $ 2,237,703
[1] Effective January 1, 2015, we elected fair value accounting for a newly-created class of non-Agency MSRs, which were previously accounted for using the amortization method, based on a different strategy for managing the risks of the underlying portfolio compared to our other MSR classes. This irrevocable election applies to all subsequently acquired or originated servicing assets and liabilities that have characteristics consistent with this class. We recorded a cumulative-effect adjustment of $52.0 million (before deferred income taxes of $9.2 million) to retained earnings as of January 1, 2015 to reflect the excess of the fair value of these MSRs over their carrying amount. At December 31, 2014, the UPB of the loans related to the non-Agency MSRs for which the fair value election was made was $195.3 billion.
[2] As of the February 15, 2013 acquisition date, the purchase of certain MSRs from Residential Capital, LLC (ResCap) was not complete pending the receipt of certain consents and court approvals. Subsequent to the acquisition, we obtained the required consents and approvals for a portion of these MSRs and, in 2014, paid an additional purchase price of $54.2 million, which included $11.4 million to acquire the MSRs and $39.2 million to acquire the related advances. We recorded a contingent asset effective as of the ResCap acquisition date.
[3] On January 31, 2014, we increased our ownership in Ocwen Structured Investments, LLC (OSI) from 26.00% to 87.35%. The acquired net assets were $20.0 million and consisted primarily of MSRs ($9.0 million), mortgage-backed securities ($7.7 million) and cash ($3.2 million).
[4] Impairment of MSRs is recognized in Servicing and origination expense in the consolidated statements of operations.