Schedule I Financial Information (As Restated) Schedule I Financial Information (Tables)

12 Months Ended

Dec. 31, 2016

Schedule of Restatements to Parent Company Balance Sheet

The following table presents the consolidated balance sheet as previously reported, restatement adjustments, and the consolidated balance sheet as restated as of December 31, 2016 (in thousands):



	December 31, 2016
	As Previously Reported			Restatement Adjustments			As Restated
ASSETS
Cash and cash equivalents	$	224,598		$	—		$	224,598
Restricted cash and cash equivalents	204,463			—			204,463
Residential loans at amortized cost, net	665,209			—			665,209
Residential loans at fair value	12,416,542			—			12,416,542
Receivables, net	267,962			—			267,962
Servicer and protective advances, net	1,195,380			—			1,195,380
Servicing rights, net	1,029,719			—			1,029,719
Goodwill	47,747			—			47,747
Intangible assets, net	11,347			—			11,347
Premises and equipment, net	82,628			—			82,628
Deferred tax assets, net	299,926			(299,926		)	—
Assets held for sale	71,085			—			71,085
Other assets	242,290			—			242,290
Total assets	$	16,758,896		$	(299,926	)	$	16,458,970

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Payables and accrued liabilities	$	759,011		$	—		$	759,011
Servicer payables	146,332			—			146,332
Servicing advance liabilities	783,229			—			783,229
Warehouse borrowings	1,203,355			—			1,203,355
Servicing rights related liabilities at fair value	1,902			—			1,902
Corporate debt	2,129,000			—			2,129,000
Mortgage-backed debt	943,956			—			943,956
HMBS related obligations at fair value	10,509,449			—			10,509,449
Deferred tax liabilities, net	—			4,774			4,774
Liabilities held for sale	2,402			—			2,402
Total liabilities	16,478,636			4,774			16,483,410

Stockholders' equity (deficit):
Preferred stock	—			—			—
Common stock	364			—			364
Additional paid-in capital	596,067			—			596,067
Accumulated deficit	(317,104		)	(304,700		)	(621,804		)
Accumulated other comprehensive income	933			—			933
Total stockholders' equity (deficit)	280,260			(304,700		)	(24,440		)
Total liabilities and stockholders' equity (deficit)	$	16,758,896		$	(299,926	)	$	16,458,970

Schedule of Restatements to Parent Company Comprehensive Loss

The following table presents the consolidated statement of comprehensive loss as previously reported, restatement adjustments, and the consolidated statement of comprehensive loss as restated for the year ended December 31, 2016 (in thousands, except share and per share data):



	For the Year Ended December 31, 2016
	As Previously Reported			Restatement Adjustments			As Restated
REVENUES
Net servicing revenue and fees	$	340,991		$	—		$	340,991
Net gains on sales of loans	409,448			—			409,448
Net fair value gains on reverse loans and related HMBS obligations	59,022			—			59,022
Interest income on loans	45,700			—			45,700
Insurance revenue	41,968			—			41,968
Other revenues	98,588			—			98,588
Total revenues	995,717			—			995,717

EXPENSES
General and administrative	619,772			—			619,772
Salaries and benefits	520,357			—			520,357
Goodwill and intangible assets impairment	326,286			—			326,286
Interest expense	255,781			—			255,781
Depreciation and amortization	59,426			—			59,426
Other expenses, net	10,530			—			10,530
Total expenses	1,792,152			—			1,792,152

OTHER GAINS
Net gains on extinguishment	14,662			—			14,662
Other net fair value losses	(4,234		)	—			(4,234		)
Other	(3,811		)	—			(3,811		)
Total other gains	6,617			—			6,617

Loss before income taxes	(789,818		)	—			(789,818		)
Income tax expense (benefit)	(260,660		)	304,700			44,040
Net loss	$	(529,158	)	$	(304,700	)	$	(833,858	)

OTHER COMPREHENSIVE LOSS BEFORE TAXES
Change in postretirement benefits liability	$	100		$	—		$	100
Amortization of realized losses on closed hedges	—			—			—
Unrealized gain on available-for-sale security in other assets	75			—			75
Other comprehensive income before taxes	175			—			175
Income tax expense for other comprehensive income items	55			—			55
Other comprehensive income	120			—			120
Total comprehensive loss	$	(529,038	)	$	(304,700	)	$	(833,738	)

Basic and diluted loss per common and common equivalent share	$	(14.71	)	$	(8.47	)	$	(23.18	)
Weighted-average common and common equivalent shares outstanding — basic and diluted	35,973			—			35,973

Supplemental Disclosures of Cash Flow Information

The Company’s supplemental disclosures of cash flow information are summarized as follows (in thousands):



	For the Years Ended December 31,
	2016		2015			2014
Supplemental Disclosure of Cash Flow Information
Cash paid for interest	$	269,229	$	288,648		$	316,094
Cash paid (received) for taxes	61,881		(1,590		)	(5,338		)
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Servicing rights capitalized upon sales of loans	198,865		306,741			214,285
Real estate owned acquired through foreclosure	158,690		122,911			122,213
Acquisition of trading security received as consideration for sale of servicing rights	—		60,094			—
Residential loans originated to finance the sale of real estate owned	13,389		22,022			52,130
Acquisitions of servicing rights	—		5,857			60,406
Servicing rights capitalized upon deconsolidation of Residual Trusts	—		3,133			—
Sales of servicing rights	73,365		9,173			1,056

Parent Company [Member]

Schedule of Restatements to Parent Company Balance Sheet

The following table presents the relevant balance sheet lines of the Parent Company as previously reported, restatement adjustments, and the Parent Company balance sheet as restated as of December 31, 2016 (in thousands):



	December 31, 2016
	As Previously Reported			Restatement Adjustments			As Restated
Deferred tax assets, net	$	27,310		$	(27,310	)	$	—
Investments in consolidated subsidiaries and VIEs	1,897,729			(277,390		)	1,620,339
Total assets	2,462,597			(304,700		)	2,157,897

Accumulated deficit	$	(317,104	)	$	(304,700	)	$	(621,804	)
Total stockholders' equity (deficit)	280,260			(304,700		)	(24,440		)
Total liabilities and stockholders' equity (deficit)	2,462,597			(304,700		)	2,157,897

Schedule of Restatements to Parent Company Comprehensive Loss

The following table presents the relevant statement of comprehensive loss lines of the Parent Company as previously reported, restatement adjustments, and the Parent Company statement of comprehensive loss as restated for the year ended December 31, 2016 (in thousands):



	For the Year Ended December 31, 2016
	As Previously Reported			Restatement Adjustments			As Restated
Income tax expense (benefit)	$	(32,534	)	$	27,310		$	(5,224	)
Loss before equity in losses of consolidated subsidiaries and VIEs	(107,938		)	(27,310		)	(135,248		)
Equity in losses of consolidated subsidiaries and VIEs	(421,220		)	(277,390		)	(698,610		)
Net loss	(529,158		)	(304,700		)	(833,858		)

Comprehensive loss	$	(529,038	)	$	(304,700	)	$	(833,738	)

Supplemental Disclosures of Cash Flow Information

The Company’s supplemental disclosures of cash flow information are summarized as follows (in thousands):



	For the Years Ended December 31,
	2016		2015			2014
Supplemental Disclosure of Cash Flow Information
Cash paid for interest	$	123,369	$	128,913		$	132,422
Cash paid (received) for taxes	61,289		(3,318		)	(6,067		)
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Servicing rights capitalized upon deconsolidation of Residual Trusts	—		3,133			—
Real estate owned acquired through foreclosure	806		783			671
Residential loans originated to finance the sale of real estate owned	540		1,466			1,657
Contributions to subsidiaries	68,637		28,249			19,143
Distributions from subsidiaries	14,727		7,469			183