Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2014

Financial Results by Reportable Segment Reconciled to Consolidated Income (Loss) Before Income Taxes and Total Assets by Reportable Segment Reconciled to Consolidated Total Assets

The following tables present select financial information and total assets by reportable segment (in thousands):



	For the Year Ended December 31, 2014
	Servicing			Originations		Reverse Mortgage			ARM		Insurance		Loans and Residuals		Other			Eliminations			Total Consolidated
Total revenues ^{(1) (2) (3) (4)}	$	563,466		$	481,822	$	157,161		$	58,230	$	71,030	$	134,469	$	41,179		$	(20,204	)	$	1,487,153
Interest expense	43,998			29,841		3,773			—		—		77,858		147,633			—			303,103
Depreciation and amortization	35,275			19,007		9,334			4,579		4,489		—		37			—			72,721
Goodwill impairment	—			—		82,269			—		—		—		—			—			82,269
Other expenses, net ⁽⁵⁾	625,267			295,894		166,210			27,152		27,353		25,446		19,818			(20,204		)	1,166,936
Income (loss) before income taxes	(142,475		)	137,080		(104,425		)	26,499		39,188		31,026		(106,233		)	—			(119,340		)

	At December 31, 2014
Total assets	$	4,777,980		$	1,493,851	$	10,476,947		$	107,232	$	129,104	$	1,394,498	$	1,297,068		$	(684,703	)	$	18,991,977



	For the Year Ended December 31, 2013
	Servicing		Originations		Reverse Mortgage		ARM		Insurance		Loans and Residuals		Other			Eliminations			Total Consolidated
Total revenues ^{(1) (2) (3)}	$	741,778	$	630,441	$	167,664	$	40,942	$	84,507	$	144,660	$	11,714		$	(19,207	)	$	1,802,499
Interest expense	25,921		28,469		7,974		—		—		86,974		123,317			—			272,655
Depreciation and amortization	37,872		10,836		11,145		6,260		4,883		—		31			—			71,027
Other expenses, net ⁽⁵⁾	452,978		328,150		148,193		22,840		33,655		25,417		47,545			(19,207		)	1,039,571
Income (loss) before income taxes	224,157		262,986		352		11,842		45,969		32,450		(164,938		)	—			412,818

	At December 31, 2013
Total assets	$	4,261,119	$	1,450,366	$	9,192,799	$	51,699	$	223,191	$	1,497,882	$	1,861,922		$	(1,151,449	)	$	17,387,529



	For the Year Ended December 31, 2012
	Servicing		Originations			Reverse Mortgage		ARM		Insurance		Loans and Residuals		Other			Eliminations			Total Consolidated
Total revenues ^{(1) (2) (3)}	$	348,931	$	5,917		$	13,565	$	38,925	$	73,908	$	154,356	$	9,206		$	(21,001	)	$	623,807
Interest expense	4,882		20			1,217		—		—		96,337		77,215			—			179,671
Depreciation and amortization	34,719		132			1,236		7,774		5,377		—		29			—			49,267
Other expenses, net ⁽⁵⁾	262,515		8,140			7,991		22,623		35,175		41,975		31,544			(21,001		)	388,962
Income (loss) before income taxes	45,759		(2,375		)	3,121		8,528		33,356		15,928		(139,768		)	—			(35,451		)

__________

(1)

The Servicing, Reverse Mortgage and Asset Receivables Management segments include net servicing revenue and fees with external customers of $530.8 million, $35.4 million and $35.3 million for the year ended December 31, 2014, respectively, $715.7 million, $27.3 million and $40.4 million for the year ended December 31, 2013, respectively, and $325.7 million, $4.4 million and $38.4 million for the year ended December 31, 2012, respectively.

(2)

The Servicing and Asset Receivables Management segments include net servicing revenue and fees of $19.7 million and $0.5 million for the year ended December 31, 2014, respectively, $18.8 million and $0.4 million for the year ended December 31, 2013, respectively, and $20.4 million and $0.5 million for the year ended December 31, 2012, respectively, associated with intercompany activity with the Loans and Residuals segment and Other non-reportable segment.


(3)	The Loans and Residuals segment recognized $134.5 million, $144.7 million and $154.4 million in interest income on loans for the years ended December 31, 2014, 2013 and 2012, respectively.


(4)	The Other non-reportable segment recognized $36.8 million in asset management performance fees for the year ended December 31, 2014. Refer to Note 2 for additional information.


(5)	Other expenses, net in the tables above includes salaries and benefits, general and administrative, and other expenses, net consolidated on the statements of comprehensive income (loss).

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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