Payables and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Payables and Accrued Liabilities

Payables and accrued liabilities consist of the following (in thousands):



	December 31,
	2016		2015
Loans subject to repurchase from Ginnie Mae ⁽¹⁾	$	184,289	$	22,507
Accounts payable and accrued liabilities	155,556		113,325
Curtailment liability	121,305		115,453
Employee-related liabilities	91,063		95,926
Originations liability	62,969		48,930
Margin payable on derivative instruments	30,941		10,101
Servicing rights and related advance purchases payable	18,187		21,649
Derivative instruments	11,804		6,475
Uncertain tax positions ⁽²⁾	9,414		64,554
Accrued interest payable	9,414		9,819
Payables to insurance carriers ⁽³⁾	5,452		21,356
Acquisition related escrow funds payable to sellers	1,236		10,236
Other	57,381		57,595
Total payables and accrued liabilities	$	759,011	$	597,926

__________


(1)	As the amount of loans securitized with Ginnie Mae increases and the portfolio continues to season, this amount will continue to increase, which will be offset by actual repurchases of, or payments received on, these loans. Refer to Note 9 for additional information.


(2)	Refer to Note 26 for a rollforward of the activity in uncertain tax positions.


(3)	The December 31, 2015 balance was reduced by $42.1 million to correct an immaterial error as discussed in further detail in Note 1.

Schedule of Restructuring Reserve by Type of Cost

The following table presents the current period activity in the accrued exit costs liability resulting from each of the 2015 Actions and 2016 Actions described above, which is included in payables and accrued liabilities on the consolidated balance sheets, and the related charges and cash payments and other settlements associated with these actions (in thousands):



	For the Year Ended December 31, 2016
	2015 Actions			2016 Actions			Total
Balance at January 1, 2016	$	4,183		$	—		$	4,183
Charges
Severance and related costs	1,232			19,768			21,000
Office closures and other costs	980			3,778			4,758
Total charges	2,212			23,546			25,758
Cash payments or other settlements
Severance and related costs	(3,595		)	(8,614		)	(12,209		)
Office closures and other costs	(1,812		)	(3,054		)	(4,866		)
Total cash payments or other settlements	(5,407		)	(11,668		)	(17,075		)
Balance at December 31, 2016	$	988		$	11,878		$	12,866

Cumulative charges incurred
Severance and related costs	$	7,238		$	19,768		$	27,006
Office closures and other costs	6,535			3,778			10,313
Total cumulative charges incurred	$	13,773		$	23,546		$	37,319

Total expected costs to be incurred	$	13,773		$	23,835		$	37,608

Schedule of Restructuring Reserve by Segment

The following table presents the current period activity for each of the 2015 Actions and 2016 Actions described above by reportable segment (in thousands):



	For the Year Ended December 31, 2016
	Servicing			Originations			Reverse Mortgage			Other			Total Consolidated
Balance at January 1, 2016
2015 Actions	$	1,174		$	1,663		$	1,346		$	—		$	4,183
2016 Actions	—			—			—			—			—
Total balance at January 1, 2016	1,174			1,663			1,346			—			4,183
Charges
2015 Actions	19			1,982			211			—			2,212
2016 Actions	11,602			1,136			5,226			5,582			23,546
Total charges	11,621			3,118			5,437			5,582			25,758
Cash payments or other settlements
2015 Actions	(740		)	(3,385		)	(1,282		)	—			(5,407		)
2016 Actions	(7,279		)	(113		)	(3,004		)	(1,272		)	(11,668		)
Total cash payments or other settlements	(8,019		)	(3,498		)	(4,286		)	(1,272		)	(17,075		)
Balance at December 31, 2016
2015 Actions	453			260			275			—			988
2016 Actions	4,323			1,023			2,222			4,310			11,878
Total balance at December 31, 2016	$	4,776		$	1,283		$	2,497		$	4,310		$	12,866

Total cumulative charges incurred
2015 Actions	$	6,481		$	4,590		$	1,851		$	851		$	13,773
2016 Actions	11,602			1,136			5,226			5,582			23,546
Total cumulative charges incurred	$	18,083		$	5,726		$	7,077		$	6,433		$	37,319

Total expected costs to be incurred
2015 Actions	$	6,481		$	4,590		$	1,851		$	851		$	13,773
2016 Actions	11,602			1,136			5,515			5,582			23,835
Total expected costs to be incurred	$	18,083		$	5,726		$	7,366		$	6,433		$	37,608