GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2012

GOODWILL AND INTANGIBLE ASSETS, NET

Summary of changes in goodwill

	Mortgage		Financial			Technology
(in thousands)	Services		Services			Services		Total
Gross value at January 1, 2011	$	10,218	$	13,544		$	1,618	$	25,380
Accumulated amortization of tax-deductible goodwill (a)	—		(10,728		)	—		(10,728		)
Accumulated impairment losses	—		(2,816		)	—		(2,816		)
Balance, January 1, 2011	10,218		—			1,618		11,836
Acquisition of Springhouse	701		—			—		701
Acquisition of Tracmail	—		2,378			—		2,378
Balance, December 31, 2011 and 2012	$	10,919	$	2,378		$	1,618	$	14,915

(a) See description under intangible assets, net section below.

Schedule of intangible assets, net

	Weighted average estimated useful life	Gross carrying amount				Accumulated amortization						Net book value
(dollars in thousands)	(years)	2012		2011		2012			2011			2012		2011
Definite-lived intangible assets
Trademarks	16	$	10,614	$	10,614	$	(4,060	)	$	(3,353	)	$	6,554	$	7,261
Customer lists	19	38,366		38,366		(18,567		)(a)	(13,010		)	19,799		25,356
Operating agreement	20	35,000		35,000		(5,104		)	(3,354		)	29,896		31,646
Non-compete agreement	4	1,300		1,300		(963		)	(613		)	337		687
Total		$	85,280	$	85,280	$	(28,694	)	$	(20,330	)	$	56,586	$	64,950

(a) Prior to our acquisition of Nationwide Credit, Inc. (“NCI®”) in 2007, NCI completed an acquisition which created tax-deductible goodwill that amortizes for tax purposes over time.  When we acquired NCI in 2007, we recorded a lesser amount of goodwill for financial reporting purposes than what had previously been recorded at NCI for tax purposes. This difference between the amount of goodwill recorded for financial reporting purposes and the amount recorded for taxes is referred to as “Component 2” goodwill and resulted in our recording periodic reductions first to our book goodwill balance in our consolidated financial statements. As our book goodwill balance was fully written off at December 31, 2010, we continued to amortize the remaining Component 2 goodwill for United States tax purposes by reducing certain intangible assets by the remaining tax benefits of the Component 2 goodwill as they are realized in our tax returns. The reduction in intangible assets was $3.3 million and 3.4 million for of the years ended December 31, 2012 and 2011, respectively. Component 2 goodwill was fully amortized in 2012.