Variable Interest Entities

3 Months Ended

Mar. 31, 2015

Variable Interest Entity Disclosure [Abstract]

Variable Interest Entities

Variable Interest Entities

Consolidated Variable Interest Entities

Included in the tables below are summaries of the carrying amounts of the assets and liabilities of consolidated VIEs (in thousands):

	March 31, 2015
	Residual Trusts		Non-Residual Trusts		Servicer and Protective Advance Financing Facilities		Total
Assets
Restricted cash and cash equivalents	$	42,612	$	12,928	$	47,552	$	103,092
Residential loans at amortized cost, net	1,268,109		—		—		1,268,109
Residential loans at fair value	—		567,912		—		567,912
Receivables at fair value	—		22,935		—		22,935
Servicer and protective advances, net	—		—		1,194,718		1,194,718
Other assets	38,605		1,144		2,580		42,329
Total assets	$	1,349,326	$	604,919	$	1,244,850	$	3,199,095
Liabilities
Payables and accrued liabilities	$	7,242	$	—	$	1,106	$	8,348
Servicing advance liabilities	—		—		1,090,692		1,090,692
Mortgage-backed debt	1,071,128		635,239		—		1,706,367
Total liabilities	$	1,078,370	$	635,239	$	1,091,798	$	2,805,407

	December 31, 2014
	Residual Trusts		Non-Residual Trusts		Servicer and Protective Advance Financing Facilities		Total
Assets
Restricted cash and cash equivalents	$	41,632	$	12,710	$	51,635	$	105,977
Residential loans at amortized cost, net	1,292,781		—		—		1,292,781
Residential loans at fair value	—		586,433		—		586,433
Receivables at fair value	—		25,201		—		25,201
Servicer and protective advances, net	—		—		1,273,186		1,273,186
Other assets	41,758		1,023		3,418		46,199
Total assets	$	1,376,171	$	625,367	$	1,328,239	$	3,329,777
Liabilities
Payables and accrued liabilities	$	7,590	$	—	$	921	$	8,511
Servicing advance liabilities	—		—		1,160,257		1,160,257
Mortgage-backed debt	1,098,292		653,167		—		1,751,459
Total liabilities	$	1,105,882	$	653,167	$	1,161,178	$	2,920,227

Unconsolidated Variable Interest Entities

Included in Note 4 to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 are descriptions of the Company’s variable interests in VIEs that it does not consolidate as it has determined that it is not the primary beneficiary of such VIEs.