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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Operating activities    
Net loss $ (89,801) $ (662,665)
Adjustments to reconcile net loss to net cash provided by operating activities    
Net fair value gains on reverse loans and related HMBS obligations (22,574) (42,858)
Amortization of servicing rights 14,951 7,236
Change in fair value of servicing rights 120,230 514,073
Change in fair value of servicing rights related liabilities 0 (12,724)
Change in fair value of charged-off loans (11,868) (14,296)
Other net fair value losses 5,926 6,815
Accretion of discounts on residential loans and advances (1,799) (1,845)
Accretion of discounts on debt and amortization of deferred debt issuance costs 15,556 16,195
Provision for uncollectible advances 22,486 22,356
Depreciation and amortization of premises and equipment and intangible assets 20,974 28,963
Provision for deferred income taxes 1,374 90,552
Share-based compensation 1,346 5,705
Purchases and originations of residential loans held for sale (9,522,730) (10,078,201)
Proceeds from sales of and payments on residential loans held for sale 9,837,393 10,239,448
Net gains on sales of loans (144,901) (184,653)
Gain on sale of business (67,734) 0
Goodwill impairment 0 215,412
Other 4,608 6,090
Changes in assets and liabilities    
Decrease (increase) in receivables 73,023 (62,619)
Decrease in servicer and protective advances 257,608 282,018
Decrease (increase) in other assets 38 (11,150)
Decrease in payables and accrued liabilities (115,822) (84,929)
Increase in servicer payables, net of change in restricted cash 14,984 31,122
Cash flows provided by operating activities 413,268 310,045
Investing activities    
Purchases and originations of reverse loans held for investment (216,948) (384,816)
Principal payments received on reverse loans held for investment 558,003 473,617
Principal payments received on mortgage loans held for investment 47,678 45,238
Payments received on charged-off loans held for investment 9,205 12,542
Payments received on receivables related to Non-Residual Trusts 6,294 4,011
Proceeds from sales of real estate owned, net 72,581 51,924
Purchases of premises and equipment (2,312) (22,638)
Decrease in restricted cash and cash equivalents 989 10,328
Payments for acquisitions of businesses, net of cash acquired (1,019) (1,947)
Acquisitions of servicing rights, net (152) (8,410)
Proceeds from sale of servicing rights, net 38,817 19,920
Proceeds from sale of business 131,074 0
Other 9,441 (2,174)
Cash flows provided by investing activities 653,651 197,595
Financing activities    
Payments on corporate debt (21,285) (345)
Extinguishments and settlement of debt 0 (6,327)
Proceeds from securitizations of reverse loans 278,011 410,107
Payments on HMBS related obligations (890,737) (590,678)
Issuances of servicing advance liabilities 679,809 815,800
Payments on servicing advance liabilities (919,933) (1,043,972)
Net change in warehouse borrowings related to mortgage loans (175,701) (59,801)
Net change in warehouse borrowings related to reverse loans 304,472 115,515
Proceeds from financing of servicing rights 0 29,738
Payments on servicing rights related liabilities (1,709) (9,639)
Payments on mortgage-backed debt (66,422) (52,017)
Other debt issuance costs paid (2,060) (5,912)
Other 2,412 (44)
Cash flows used in financing activities (813,143) (397,575)
Net increase in cash and cash equivalents 253,776 110,065
Cash and cash equivalents at beginning of the period 224,598 202,828
Cash and cash equivalents at end of the period 478,374 312,893
Supplemental Disclosures of Cash Flow Information    
Cash paid for interest 119,564 134,703
Cash paid (received) for taxes $ (74,144) $ 58