2.4.0.8023 - Disclosure - NOTE 13 OTHER ASSETStruefalsefalse1false falsefalseContext_6ME__30-Jun-2013http://www.sec.gov/CIK0000873860duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_OtherAssetsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Other Assets [Abstract]2false 2us-gaap_OtherAssetsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1falsefalsefalse00<table style="font: bold 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 0pt; margin-bottom: 0px; word-spacing: 0px; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 0px;"></td> <td style="width: 156px; text-align: left;"><font style="text-transform: uppercase; font-size: 10pt;">NOTE 13</font></td> <td style="text-align: justify;"><font style="text-transform: uppercase; font-size: 10pt;">OTHER ASSETS</font></td> </tr> </table> <p style="font: 10pt/normal 'times new roman', times, serif; margin: 10pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; -webkit-text-stroke-width: 0px;"><font style="font-size: 10pt;">Other assets consisted of the following at the dates indicated:</font></p> <table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="vertical-align: bottom;"> <td style="text-align: center; text-indent: -8.65pt; padding-bottom: 1pt; padding-left: 8.65pt;" nowrap="nowrap"> </td> <td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"> </td> <td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" nowrap="nowrap">June 30,<br />2013</td> <td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"> </td> <td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"> </td> <td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" nowrap="nowrap">December 31,<br />2012</td> <td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceecc;"> <td style="width: 1179.46px; text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Loans – restricted for securitization investors, at fair value (1)</td> <td style="width: 32px;"> </td> <td style="width: 16px; text-align: left;">$</td> <td style="width: 126px; text-align: right;">76,649</td> <td style="width: 16px; text-align: left;"> </td> <td style="width: 31px;"> </td> <td style="width: 15px; text-align: left;">$</td> <td style="width: 125px; text-align: right;">—</td> <td style="width: 15px; text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Loans held for sale, at lower of cost or fair value (2)</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">33,987</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">82,866</td> <td style="text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceecc;"> <td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Prepaid lender fees and debt issuance costs, net (3)</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">32,912</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">14,389</td> <td style="text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Prepaid income taxes</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">23,112</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">23,112</td> <td style="text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceecc;"> <td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Derivatives, at fair value (4)</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">18,857</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">10,795</td> <td style="text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Investment in unconsolidated entities (5)</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">12,886</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">25,187</td> <td style="text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceecc;"> <td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Real estate, net</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">8,028</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">6,205</td> <td style="text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Interest earning collateral deposits (6)</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">5,668</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">31,710</td> <td style="text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceecc;"> <td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Acquisition deposits (7)</td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">—</td> <td style="text-align: left;"> </td> <td> </td> <td style="text-align: left;"> </td> <td style="text-align: right;">57,000</td> <td style="text-align: left;"> </td> </tr> <tr style="vertical-align: bottom; background-color: white;"> <td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Prepaid expenses and other</td> <td style="padding-bottom: 1pt;"> </td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">19,125</td> <td style="text-align: left; padding-bottom: 1pt;"> </td> <td style="padding-bottom: 1pt;"> </td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">22,314</td> <td style="text-align: left; padding-bottom: 1pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: #cceecc;"> <td style="text-indent: -8.65pt; padding-bottom: 2.5pt; padding-left: 8.65pt;"> </td> <td style="padding-bottom: 2.5pt;"> </td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;">$</td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;">231,224</td> <td style="text-align: left; padding-bottom: 2.5pt;"> </td> <td style="padding-bottom: 2.5pt;"> </td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;">$</td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;">273,578</td> <td style="text-align: left; padding-bottom: 2.5pt;"> </td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 10pt; margin-bottom: 0px; word-spacing: 0px; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 0px;"></td> <td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(1)</font></td> <td style="text-align: left;"><font style="font-size: 10pt;">Loans sold into Ginnie Mae guaranteed securitizations that we include in our Consolidated Financial Statements because the transfers of reverse mortgage loans to the trusts did not qualify for sales accounting treatment.</font></td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 10pt; margin-bottom: 0px; word-spacing: 0px; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 0px;"></td> <td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(2)</font></td> <td style="text-align: left;"><font style="font-size: 10pt;">The carrying values at June 30, 2013 and December 31, 2012 are net of valuation allowances of $19.4 million and $14.7 million, respectively. The balances include non-performing subprime single-family residential loans that we do not intend to hold to maturity. The balance at June 30, 2013 includes $14.0 million of loans that we were required to repurchase from Ginnie Mae guaranteed securitizations following the ResCap Acquisition in connection with loan modifications and loan resolutions. The balance at December 31, 2012 includes non-performing mortgage loans with a carrying value of $65.4 million that we acquired in December 2012 and sold to Altisource Residential, LP in February 2013 for an insignificant gain.</font></td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 10pt; margin-bottom: 0px; word-spacing: 0px; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 0px;"></td> <td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(3)</font></td> <td style="text-align: left;"><font style="font-size: 10pt;">These balances relate to match funded liabilities and other secured borrowings.</font></td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 10pt; margin-bottom: 0px; word-spacing: 0px; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 0px;"></td> <td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(4)</font></td> <td style="text-align: left;"><font style="font-size: 10pt;">See Note 18 – Derivative Financial Instruments and Hedging Activities for additional information.</font></td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 10pt; margin-bottom: 0px; word-spacing: 0px; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 0px;"></td> <td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(5)</font></td> <td style="text-align: left;"><font style="font-size: 10pt;">The balance at December 31, 2012 includes an investment of $13.4 million that represented our 49% equity interest in Correspondent One. As disclosed in No<font style="font-family: 'times new roman', times, serif;">te 4</font><font style="font-family: 'times new roman', times, serif;"> – Busines</font>s A<font style="font-family: 'times new roman', times, serif;">cquisitions, we increased our ownership to 100% on March 31, 2013. Effective on that date, we began inc</font>luding the accounts of Correspondent One in our consolidated financial statements and have eliminated our current investment in consolidation.</font></td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 10pt; margin-bottom: 0px; word-spacing: 0px; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 0px;"></td> <td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(6)</font></td> <td style="text-align: left;"><font style="font-size: 10pt;">These balances include $1.1 million and $25.8 million of cash collateral held by the counterparties to certain of our derivative agreements at June 30, 2013 and December 31, 2012, respectively.</font></td> </tr> </table> <table style="font: 10pt/normal 'times new roman', times, serif; text-transform: none; text-indent: 0px; letter-spacing: normal; margin-top: 10pt; margin-bottom: 0px; word-spacing: 0px; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0"> <tr style="text-align: justify; vertical-align: top;"> <td style="width: 0px;"></td> <td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(7)</font></td> <td style="text-align: left;"><font style="font-size: 10pt;">The balance at December 31, 2012 represents an earnest money cash deposit we made in connection with the ResCap Acquisition. This deposit was subsequently applied towards the purchase price upon closing of the transaction on February 15, 2013. See Note 4 – Business Acquisitions for additional information.</font></td> </tr> </table>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets.No definition available.false0OTHER ASSETSfalseNOTE 13 OTHER ASSETSUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.ocwen.com/role/NOTE13OTHERASSETS12