Presented in the tables below are the Company’s financial results by reportable segment reconciled to consolidated income (loss) before income taxes (in thousands):



	For the Three Months Ended June 30, 2014
	Servicing			Originations		Reverse Mortgage			Asset Receivables Management		Insurance		Loans and Residuals			Other			Eliminations			Total Consolidated
REVENUES
Net servicing revenue and fees⁽¹⁾	$	126,640		$	—	$	8,777		$	10,760	$	—	$	—		$	—		$	(5,201	)	$	140,976
Net gains on sales of loans	—			144,611		—			—		—		—			—			—			144,611
Interest income on loans	—			—		—			—		—		34,218			—			—			34,218
Net fair value gains on reverse loans and related HMBS obligations	—			—		26,936			—		—		—			—			—			26,936
Insurance revenue	—			—		—			—		19,806		—			—			—			19,806
Other revenues ⁽²⁾	1,157			5,688		3,005			1,461		242		1			35,612			—			47,166
Total revenues	127,797			150,299		38,718			12,221		20,048		34,219			35,612			(5,201		)	413,713
EXPENSES
Interest expense	10,619			6,627		775			—		—		19,860			36,809			—			74,690
Depreciation and amortization	8,979			4,757		2,302			1,213		1,130		—			10			—			18,391
Goodwill impairment	—			—		82,269			—		—		—			—			—			82,269
Other expenses, net	159,583			74,569		40,003			6,182		7,975		5,985			2,725			(5,201		)	291,821
Total expenses	179,181			85,953		125,349			7,395		9,105		25,845			39,544			(5,201		)	467,171
OTHER GAINS (LOSSES)
Other net fair value gains (losses)	(167		)	—		—			—		—		(905		)	2,604			—			1,532
Total other gains (losses)	(167		)	—		—			—		—		(905		)	2,604			—			1,532
Income (loss) before income taxes	$	(51,551	)	$	64,346	$	(86,631	)	$	4,826	$	10,943	$	7,469		$	(1,328	)	$	—		$	(51,926	)

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(1)	The Company’s Servicing and Asset Receivables Management segments include net servicing revenue and fees of $5.0 million and $0.2 million, respectively, associated with intercompany activity with the Originations and Loans and Residuals segments and Other non-reportable segment.


(2)	Other revenues for the Company's Other non-reportable segment includes $34.2 million in asset management performance fees collected and earned in connection with the investment management of a fund. Refer to Note 2 for additional information on this transaction.



	For the Six Months Ended June 30, 2014
	Servicing			Originations		Reverse Mortgage			Asset Receivables Management		Insurance		Loans and Residuals			Other			Eliminations			Total Consolidated
REVENUES
Net servicing revenue and fees⁽¹⁾	$	287,466		$	—	$	16,387		$	19,806	$	—	$	—		$	—		$	(9,891	)	$	313,768
Net gains on sales of loans	—			248,645		—			—		—		—			—			—			248,645
Interest income on loans	—			—		—			—		—		68,640			—			—			68,640
Net fair value gains on reverse loans and related HMBS obligations	—			—		44,172			—		—		—			—			—			44,172
Insurance revenue	—			—		—			—		43,194		—			—			—			43,194
Other revenues ⁽²⁾	9,711			10,868		6,027			1,461		246		3			36,926			—			65,242
Total revenues	297,177			259,513		66,586			21,267		43,440		68,643			36,926			(9,891		)	783,661
EXPENSES
Interest expense	21,032			13,460		1,634			—		—		40,163			73,250			—			149,539
Depreciation and amortization	17,684			9,752		4,751			2,515		2,313		—			20			—			37,035
Goodwill impairment	—			—		82,269			—		—		—			—			—			82,269
Other expenses, net	275,900			151,745		74,363			11,427		15,517		9,609			8,138			(9,891		)	536,808
Total expenses	314,616			174,957		163,017			13,942		17,830		49,772			81,408			(9,891		)	805,651
OTHER GAINS (LOSSES)
Other net fair value gains (losses)	(341		)	—		—			—		—		(1,147		)	517			—			(971		)
Total other gains (losses)	(341		)	—		—			—		—		(1,147		)	517			—			(971		)
Income (loss) before income taxes	$	(17,780	)	$	84,556	$	(96,431	)	$	7,325	$	25,610	$	17,724		$	(43,965	)	$	—		$	(22,961	)

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(1)	The Company’s Servicing and Asset Receivables Management segments include net servicing revenue and fees of $9.6 million and $0.3 million, respectively, associated with intercompany activity with the Originations and Loans and Residuals segments and Other non-reportable segment.


(2)	Other revenues for the Company's Other non-reportable segment includes $34.2 million in asset management performance fees collected and earned in connection with the investment management of a fund. Refer to Note 2 for additional information on this transaction.



	For the Three Months Ended June 30, 2013
	Servicing			Originations		Reverse Mortgage			Asset Receivables Management		Insurance		Loans and Residuals		Other			Eliminations			Total Consolidated
REVENUES
Net servicing revenue and fees ⁽¹⁾	$	244,432		$	—	$	6,624		$	11,102	$	—	$	—	$	—		$	(4,852	)	$	257,306
Net gains on sales of loans	—			235,699		250			—		—		—		—			—			235,949
Interest income on loans	—			—		—			—		—		36,796		—			—			36,796
Net fair value gains on reverse loans and related HMBS obligations	—			—		26,731			—		—		—		—			—			26,731
Insurance revenue	—			—		—			—		18,050		—		—			—			18,050
Other revenues	457			15,527		2,366			69		6		1		2,706			—			21,132
Total revenues	244,889			251,226		35,971			11,171		18,056		36,797		2,706			(4,852		)	595,964
EXPENSES
Interest expense	5,166			8,600		2,166			—		—		21,800		30,558			—			68,290
Depreciation and amortization	9,445			2,689		2,691			1,614		1,168		—		7			—			17,614
Other expenses, net	116,914			94,058		40,931			5,722		7,934		4,813		7,625			(4,852		)	273,145
Total expenses	131,525			105,347		45,788			7,336		9,102		26,613		38,190			(4,852		)	359,049
OTHER GAINS (LOSSES)
Other net fair value gains (losses)	(179		)	—		—			—		—		566		1,269			—			1,656
Total other gains (losses)	(179		)	—		—			—		—		566		1,269			—			1,656
Income (loss) before income taxes	$	113,185		$	145,879	$	(9,817	)	$	3,835	$	8,954	$	10,750	$	(34,215	)	$	—		$	238,571

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(1)	The Company’s Servicing and Asset Receivables Management segments include net servicing revenue and fees of $4.7 million and $0.1 million, respectively, associated with intercompany activity with the Loans and Residuals segment and Other non-reportable segment.



	For the Six Months Ended June 30, 2013
	Servicing			Originations		Reverse Mortgage		Asset Receivables Management		Insurance		Loans and Residuals		Other			Eliminations			Total Consolidated
REVENUES
Net servicing revenue and fees ⁽¹⁾	$	369,559		$	—	$	13,372	$	21,192	$	—	$	—	$	—		$	(9,808	)	$	394,315
Net gains on sales of loans	—			309,761		4,633		—		—		—		—			—			314,394
Interest income on loans	—			—		—		—		—		73,694		—			—			73,694
Net fair value gains on reverse loans and related HMBS obligations	—			—		63,519		—		—		—		—			—			63,519
Insurance revenue	—			—		—		—		35,584		—		—			—			35,584
Other revenues	919			17,524		5,311		133		13		4		5,122			(39		)	28,987
Total revenues	370,478			327,285		86,835		21,325		35,597		73,698		5,122			(9,847		)	910,493
EXPENSES
Interest expense	7,576			9,306		5,695		—		—		44,096		55,759			—			122,432
Depreciation and amortization	18,302			4,366		5,414		3,370		2,482		—		13			—			33,947
Other expenses, net	208,962			133,475		73,454		11,752		16,442		10,643		24,533			(9,847		)	469,414
Total expenses	234,840			147,147		84,563		15,122		18,924		54,739		80,305			(9,847		)	625,793
OTHER GAINS (LOSSES)
Other net fair value gains (losses)	(424		)	—		—		—		—		404		415			—			395
Total other gains (losses)	(424		)	—		—		—		—		404		415			—			395
Income (loss) before income taxes	$	135,214		$	180,138	$	2,272	$	6,203	$	16,673	$	19,363	$	(74,768	)	$	—		$	285,095

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(1)	The Company’s Servicing and Asset Receivables Management segments include net servicing revenue and fees of $9.6 million and $0.2 million, respectively, associated with intercompany activity with the Loans and Residuals segment and Other non-reportable segment.