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Goodwill and Intangible Assets, Net (Tables)
 12 Months Ended
Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill by Reportable Segment
The table below sets forth the activity in goodwill by reportable segment (in thousands):
 
 
Reportable Segment
 
 
 
 
Servicing (1)
 
Originations
 
Reverse Mortgage
 
Total
Balance at January 1, 2015 (2)
 
$
471,182

 
$
47,747

 
$
56,539

 
$
575,468

Impairment
 
(151,018
)
 
—

 
(56,539
)
 
(207,557
)
Balance at December 31, 2015 (2)
 
320,164

 
47,747

 
—

 
367,911

Acquisition of RCS net assets
 
3,784

 
—

 
—

 
3,784

Impairment (3)
 
(319,551
)
 
—

 
—

 
(319,551
)
Reclassification to assets held for sale (4)
 
(4,397
)
 
—

 
—

 
(4,397
)
Balance at December 31, 2016 (2)
 
$
—

 
$
47,747

 
$
—

 
$
47,747

__________
(1)
The Servicing, Insurance and ARM reporting units are components of the Servicing segment.
(2)
There were accumulated impairment losses relating to the Reverse Mortgage segment of $82.3 million at January 1, 2015 and $138.8 million at December 31, 2016 and 2015, respectively. In addition, there were accumulated impairment losses relating to the Servicing segment of $470.6 million and $151.0 million at December 31, 2016 and 2015, respectively.
(3)
As discussed in further detail below, the Company recorded goodwill impairment charges in its Servicing segment of $215.4 million, $91.0 million and $13.2 million during the second, third and fourth quarters of 2016, respectively.
(4)
Represents the goodwill balance associated with the Insurance business. Refer to Note 16 for additional information on assets held for sale at December 31, 2016.
Schedule of Intangible Assets
Intangible assets, net consist of the following (in thousands):
 
 
December 31, 2016
 
December 31, 2015
 
 
Gross Carrying Amount
 
Accumulated Amortization
 
Impairment
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Customer relationships (1)
 
$
29,141

 
$
(23,769
)
 
$
—

 
$
5,372

 
$
133,067

 
$
(64,238
)
 
$
68,829

Institutional relationships
 
11,900

 
(5,222
)
 
(6,340
)
 
338

 
16,600

 
(8,468
)
 
8,132

Other
 
10,000

 
(3,968
)
 
(395
)
 
5,637

 
10,000

 
(2,923
)
 
7,077

Total intangible assets
 
$
51,041

 
$
(32,959
)
 
$
(6,735
)
 
$
11,347

 
$
159,667

 
$
(75,629
)
 
$
84,038


__________
(1)
The balance as of December 31, 2016 excludes customer relationships related to the Insurance business with a net carrying amount of $54.0 million that were reclassified to assets held for sale. Refer to Note 16 for additional information on assets held for sale at December 31, 2016.
Schedule of Amortization Expense of Intangible Assets for Each of the Next Five Years and Thereafter
Based on the balance of intangible assets, net at December 31, 2016, the following is an estimate of amortization expense for each of the next five years and thereafter (in thousands):
 
 
Amortization Expense
2017
 
$
2,444

2018
 
1,714

2019
 
1,370

2020
 
1,109

2021
 
904

Thereafter
 
3,806

Total
 
$
11,347