XML 75 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Comprehensive Income (Loss) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
REVENUES    
Net servicing revenue and fees $ 90,887us-gaap_ServicingFeesNet $ 172,792us-gaap_ServicingFeesNet
Net gains on sales of loans 125,227us-gaap_GainLossOnSaleOfMortgageLoans 104,034us-gaap_GainLossOnSaleOfMortgageLoans
Interest income on loans 31,941us-gaap_InterestAndFeeIncomeLoansAndLeases 34,422us-gaap_InterestAndFeeIncomeLoansAndLeases
Net fair value gains on reverse loans and related HMBS obligations 30,774wac_FairValueGainLossOnReverseLoansAndRelatedObligation 17,236wac_FairValueGainLossOnReverseLoansAndRelatedObligation
Insurance revenue 14,131us-gaap_InsuranceServicesRevenue 23,388us-gaap_InsuranceServicesRevenue
Other revenues 17,897us-gaap_OtherOperatingIncome 18,076us-gaap_OtherOperatingIncome
Total revenues 310,857us-gaap_Revenues 369,948us-gaap_Revenues
EXPENSES    
Salaries and benefits 147,228us-gaap_LaborAndRelatedExpense 135,897us-gaap_LaborAndRelatedExpense
General and administrative 128,647us-gaap_GeneralAndAdministrativeExpense 108,865us-gaap_GeneralAndAdministrativeExpense
Interest expense 74,871us-gaap_InterestExpense 74,849us-gaap_InterestExpense
Depreciation and amortization 16,632us-gaap_DepreciationDepletionAndAmortization 18,644us-gaap_DepreciationDepletionAndAmortization
Other expenses, net 4,047us-gaap_OtherCostAndExpenseOperating 225us-gaap_OtherCostAndExpenseOperating
Total expenses 371,425us-gaap_CostsAndExpenses 338,480us-gaap_CostsAndExpenses
OTHER GAINS (LOSSES)    
Other net fair value losses (872)us-gaap_FairValueOptionChangesInFairValueGainLoss1 (2,503)us-gaap_FairValueOptionChangesInFairValueGainLoss1
Other 11,762us-gaap_OtherNonoperatingIncomeExpense 0us-gaap_OtherNonoperatingIncomeExpense
Total other gains (losses) 10,890wac_OtherGainsLosses (2,503)wac_OtherGainsLosses
Income (loss) before income taxes (49,678)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments 28,965us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
Income tax expense (benefit) (18,670)us-gaap_IncomeTaxExpenseBenefit 11,588us-gaap_IncomeTaxExpenseBenefit
Net income (loss) (31,008)us-gaap_NetIncomeLoss 17,377us-gaap_NetIncomeLoss
Comprehensive income (loss) $ (30,981)us-gaap_ComprehensiveIncomeNetOfTax $ 17,381us-gaap_ComprehensiveIncomeNetOfTax
Basic earnings (loss) per common and common equivalent share (in usd per share) $ (0.82)us-gaap_EarningsPerShareBasic $ 0.46us-gaap_EarningsPerShareBasic
Diluted earnings (loss) per common and common equivalent share (in usd per share) $ (0.82)us-gaap_EarningsPerShareDiluted $ 0.45us-gaap_EarningsPerShareDiluted
Weighted-average common and common equivalent shares outstanding — basic (in shares) 37,718us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 37,429us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Weighted-average common and common equivalent shares outstanding — diluted (in shares) 37,718us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 38,005us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding