Servicing Advance Liabilities (Tables)

12 Months Ended

Dec. 31, 2016

Short-term Debt [Abstract]

Schedule of Servicing Advance Liabilities

Servicing advance liabilities, which are carried at amortized cost, consist of the following (in thousands):

	December 31,
	2016		2015
Servicing advance facilities (1)	$	708,462	$	1,072,541
Early Advance Reimbursement Agreement	74,767		156,739
Total servicing advance liabilities (2)	$	783,229	$	1,229,280

__________

(1) Servicing advance facilities are net of $1.5 million and $2.9 million in deferred issuance costs relating to term notes at December 31, 2016 and 2015, respectively.

(2) During the year ended December 31, 2016, the Company transitioned a large portion of its mortgage loan servicing portfolio to MSP, which resulted in a reduction to certain servicing advance liabilities as a result of changes in the structure and timing of the flow of funds to certain custodial accounts that are not reflected in the consolidated balance sheets.