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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Operating activities    
Net income (loss) $ 4,448 $ 170,981
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Net fair value gains on reverse loans and related HMBS obligations (44,172) (63,519)
Amortization of servicing rights 21,305 22,533
Change in fair value of servicing rights 131,186 (44,002)
Non-Residual Trusts net fair value losses 5,125 1,324
Other net fair value losses 1,553 4,774
Accretion of residential loan discounts and advances (7,941) (9,140)
Accretion of discounts on debt and amortization of deferred debt issuance costs 9,678 10,080
Amortization of master repurchase agreements deferred issuance costs 3,661 2,226
Amortization of Servicing Advance Liabilities Deferred Issuance Costs 3,386 127
Provision for uncollectible advances 33,815 10,794
Depreciation and amortization of premises and equipment and intangible assets 37,035 33,947
Non-Residual Trusts losses on real estate owned, net 231 524
Other gains on real estate owned, net (1,256) (2,439)
Provision (benefit) for deferred income taxes (16,232) 19,259
Share-based compensation 8,301 6,542
Purchases and originations of residential loans held for sale (8,037,309) (5,281,349)
Proceeds from sales of and payments on residential loans held for sale 8,040,363 3,775,479
Net gains on sales of loans (248,645) (314,394)
Goodwill impairment 82,269 0
Other 3,061 1,239
Changes in assets and liabilities    
Decrease (increase) in receivables 22,472 (17,846)
Increase in servicer and protective advances (84,508) (694,810)
Increase in other assets (14,760) (9,421)
Increase (decrease) in payables and accrued liabilities (19,737) 322,377
Increase (decrease) in servicer payables 7,171 (234)
Cash flows used in operating activities (73,842) (2,054,480)
Investing activities    
Purchases and originations of reverse loans held for investment (715,969) (1,864,687)
Principal payments received on reverse loans held for investment 234,779 141,702
Principal payments received on forward loans related to Residual Trusts 50,562 53,521
Principal payments received on forward loans related to Non-Residual Trusts 29,383 30,524
Payments Received on Charged-off Loans Held for Investment 2,055 0
Payments received on receivables related to Non-Residual Trusts 5,696 8,141
Cash proceeds from sales of real estate owned, net related to Residual Trusts 6,270 3,641
Cash proceeds from sales of other real estate owned, net 16,123 10,137
Purchases of premises and equipment (12,958) (17,240)
Decrease (increase) in restricted cash and cash equivalents 2,421 (32,425)
Payments for acquisitions of businesses, net of cash acquired (167,955) (478,084)
Acquisitions of servicing rights (101,244) (537,296)
Payments to Acquire Charged-off Loans Held for Investment (57,052) 0
Other (4,962) (919)
Cash flows used in investing activities (712,851) (2,682,985)
Financing activities    
Proceeds from issuance of debt, net of debt issuance costs 0 1,012,713
Payments on debt (8,893) (39,124)
Proceeds from securitizations of reverse loans 839,431 1,983,878
Payments on HMBS related obligations (267,904) (155,312)
Issuances of servicing advance liabilities 611,895 1,216,475
Payments on servicing advance liabilities (542,740) (579,010)
Net change in master repurchase agreements related to forward loans 126,425 1,568,301
Net change in master repurchase agreements related to reverse loans (60,772) (74,125)
Other debt issuance costs paid (13,509) (6,364)
Payments on mortgage-backed debt related to Residual Trusts (51,442) (55,685)
Payments on mortgage-backed debt related to Non-Residual Trusts (39,224) (44,297)
Other 4,882 581
Cash flows provided by financing activities 598,149 4,828,031
Net increase (decrease) in cash and cash equivalents (188,544) 90,566
Cash and cash equivalents at the beginning of the period 491,885 442,054
Cash and cash equivalents at the end of the period $ 303,341 $ 532,620