Residential Loans at Fair Value (Tables)

12 Months Ended

Dec. 31, 2014

Receivables [Abstract]

Reconciliation of Changes in Residential Loans Held for Sale

A reconciliation of the changes in residential loans held for sale to the amounts presented on the consolidated statements of cash flows is presented in the following table (in thousands).

	For the Years Ended December 31,
	2014			2013			2012
Balance at beginning of the year	$	1,015,607		$	45,065		$	—
Purchases and originations of loans held for sale	18,878,305			16,141,573			22,259
Proceeds from sales of and payments on loans held for sale (1)	(19,177,179		)	(15,452,196		)	(15,985		)
Realized gains on sales of loans (2)	367,314			218,504			537
Change in unrealized gains on loans held for sale (2)	1,412			24,771			266
Interest income (2)	40,051			32,625			16
Acquisition of S1L	—			—			37,972
Transfers from loans held for investment	—			5,183			—
Other	(895		)	82			—
Balance at end of the year	$	1,124,615		$	1,015,607		$	45,065

__________

(1) Excludes realized gains and losses on freestanding derivatives.

(2) Amount is a component of net gains on sales of loans on the consolidated statements of comprehensive income (loss). Refer to Note 6 for additional information.