ACCOUNTS RECEIVABLE, NET

3 Months Ended

Mar. 31, 2013

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET

NOTE 4 — ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consists of the following:

	March 31,			December 31,
(in thousands)	2013			2012
Billed
Non-related parties	$	35,987		$	25,950
Ocwen	32,898			19,817
Correspondent One	—			27
HLSS	142			163
AAMC	209			14
Residential	12			—
Other receivables	404			353
	69,652			46,324
Unbilled
Non-related parties	33,844			39,496
Ocwen	9,243			6,377
Correspondent One	—			32
	112,739			92,229
Allowance for doubtful accounts	(3,501		)	(3,274		)
Total	$	109,238		$	88,955

Unbilled fees consist primarily of asset management and default management services for which we recognize revenues over the service delivery period but bill following completion of the service.