Business Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2016

Financial information for our segments is as follows:



	Servicing			Lending			Corporate Items and Other			Corporate Eliminations			Business Segments Consolidated
Results of Operations
Three months ended June 30, 2016
Revenue (1)	$	325,120		$	35,376		$	12,558		$	—		$	373,054

Expenses (1) (2)	260,275			28,657			96,086			—			385,018

Other income (expense):
Interest income	(15		)	4,204			951			—			5,140
Interest expense	(81,197		)	(3,697		)	(6,139		)	—			(91,033		)
Gain on sale of mortgage servicing rights, net	853			—			—			—			853
Other (1)	806			308			(508		)	—			606
Other income (expense), net	(79,553		)	815			(5,696		)	—			(84,434		)

Income (loss) before income taxes	$	(14,708	)	$	7,534		$	(89,224	)	$	—		$	(96,398	)

Three months ended June 30, 2015
Revenue (1)	$	423,207		$	39,312		$	755		$	(23	)	$	463,251

Expenses (1) (2)	284,413			26,586			41,276			(23		)	352,252

Other income (expense):
Interest income	686			3,547			805			—			5,038
Interest expense	(116,101		)	(2,163		)	(6,633		)	—			(124,897		)
Gain on sale of mortgage servicing rights, net	30,306			—			—			—			30,306
Other (1)	(9,106		)	335			(175		)	—			(8,946		)
Other income (expense), net	(94,215		)	1,719			(6,003		)	—			(98,499		)

Income (loss) before income taxes	$	44,579		$	14,445		$	(46,524	)	$	—		$	12,500



	Servicing			Lending			Corporate Items and Other			Corporate Eliminations			Business Segments Consolidated
Six months ended June 30, 2016
Revenue (1)	$	632,547		$	58,660		$	12,604		$	—		$	703,811

Expenses (1) (2)	537,171			50,457			126,047			—			713,675

Other income (expense):
Interest income	(161		)	7,815			1,676			—			9,330
Interest expense	(177,670		)	(7,145		)	(12,307		)	—			(197,122		)
Gain on sale of mortgage servicing rights, net	2,028			—			—			—			2,028
Other (1)	(2,537		)	659			(1,017		)	—			(2,895		)
Other income (expense), net	(178,340		)	1,329			(11,648		)	—			(188,659		)

Income (loss) before income taxes	$	(82,964	)	$	9,532		$	(125,091	)	$	—		$	(198,523	)

Six months ended June 30, 2015
Revenue (1)	$	894,332		$	77,059		$	2,362		$	(58	)	$	973,695

Expenses (1) (2)	622,325			50,372			57,971			(58		)	730,610

Other income (expense):
Interest income	2,057			7,143			1,413			—			10,613
Interest expense	(226,730		)	(4,802		)	(12,761		)	—			(244,293		)
Gain on sale of mortgage servicing rights, net	56,712			—			—			—			56,712
Other (1)	(12,746		)	1,401			557			—			(10,788		)
Other income (expense), net	(180,707		)	3,742			(10,791		)	—			(187,756		)

Income (loss) before income taxes	$	91,300		$	30,429		$	(66,400	)	$	—		$	55,329



	Servicing		Lending		Corporate Items and Other		Corporate Eliminations		Business Segments Consolidated
Total Assets
June 30, 2016	$	3,630,920	$	3,424,801	$	432,531	$	—	$	7,488,252

December 31, 2015	$	4,089,064	$	2,811,154	$	480,090	$	—	$	7,380,308

June 30, 2015	$	5,003,108	$	2,381,119	$	585,023	$	—	$	7,969,250


(1)	Inter-segment billings for services rendered to other segments are recorded as revenues, as contra-expense or as other income, depending on the type of service that is rendered.


(2)	Depreciation and amortization expense are as follows:



	Servicing		Lending		Corporate Items and Other		Business Segments Consolidated
For the three months ended June 30, 2016
Depreciation expense	$	1,206	$	65	$	5,539	$	6,810
Amortization of mortgage servicing rights	8,269		78		—		8,347
Amortization of debt discount	178		—		—		178
Amortization of debt issuance costs	2,889		—		332		3,221

For the three months ended June 30, 2015
Depreciation expense	$	513	$	92	$	3,470	$	4,075
Amortization of mortgage servicing rights	31,499		87		—		31,586
Amortization of debt discount	337		—		—		337
Amortization of debt issuance costs	3,183		—		373		3,556

For the six months ended June 30, 2016
Depreciation expense	$	2,340	$	136	$	9,374	$	11,850
Amortization of mortgage servicing rights	20,994		159		—		21,153
Amortization of debt discount	383		—		—		383
Amortization of debt issuance costs	5,822		—		676		6,498

For the six months ended June 30, 2015
Depreciation expense	$	1,042	$	197	$	7,181	$	8,420
Amortization of mortgage servicing rights	69,903		177		—		70,080
Amortization of debt discount	693		—		—		693
Amortization of debt issuance costs	6,606		—		705		7,311

Depreciation and amortization expense are as follows:



	Servicing		Lending		Corporate Items and Other		Business Segments Consolidated
For the three months ended June 30, 2016
Depreciation expense	$	1,206	$	65	$	5,539	$	6,810
Amortization of mortgage servicing rights	8,269		78		—		8,347
Amortization of debt discount	178		—		—		178
Amortization of debt issuance costs	2,889		—		332		3,221

For the three months ended June 30, 2015
Depreciation expense	$	513	$	92	$	3,470	$	4,075
Amortization of mortgage servicing rights	31,499		87		—		31,586
Amortization of debt discount	337		—		—		337
Amortization of debt issuance costs	3,183		—		373		3,556

For the six months ended June 30, 2016
Depreciation expense	$	2,340	$	136	$	9,374	$	11,850
Amortization of mortgage servicing rights	20,994		159		—		21,153
Amortization of debt discount	383		—		—		383
Amortization of debt issuance costs	5,822		—		676		6,498

For the six months ended June 30, 2015
Depreciation expense	$	1,042	$	197	$	7,181	$	8,420
Amortization of mortgage servicing rights	69,903		177		—		70,080
Amortization of debt discount	693		—		—		693
Amortization of debt issuance costs	6,606		—		705		7,311