Accounts Receivable, Net

12 Months Ended

Dec. 31, 2011

Accounts Receivable, Net [Abstract]

ACCOUNTS RECEIVABLE, NET

5. ACCOUNTS RECEIVABLE, NET

Accounts Receivable, net consists of the following:

		September 30,			September 30,
	December 31,
(in thousands)	2011			2010
Third-party Accounts Receivable	$	13,776		$	19,039
Unbilled Fees		34,553			32,055
Receivable from Ocwen		5,250			3,950
Receivable from Correspondent One		123			—
Other Receivables		350			583
		54,052			55,627
Allowance for Doubtful Accounts		(2,047	)		(2,132	)
Total	$	52,005		$	53,495

Unbilled Fees consist primarily of Asset Management and Default Management Services for which we recognize revenues over the service delivery period but bill at completion of the service.

A summary of the allowance for doubtful accounts, net of recoveries, for the years ended December 31, 2011, 2010 and 2009 is as follows:

		September 30,
	(in thousands)
Balance, January 1, 2009	$	777
Bad Debt Expense		338
Recoveries		(205	)
Write-offs		(214	)
Balance, December 31, 2009		696
Bad Debt Expense		1,735
Recoveries		(106	)
Write-offs		(193	)
Balance, December 31, 2010	$	2,132
Bad Debt Expense		967
Recoveries		(54	)
Write-offs		(998	)
Balance, December 31, 2011	$	2,047