Accounts Receivable, Net

3 Months Ended

Mar. 31, 2012

Accounts Receivable, Net [Abstract]

ACCOUNTS RECEIVABLE, NET

NOTE 3 — ACCOUNTS RECEIVABLE, NET

Accounts receivable, net consists of the following:

		December 31			December 31
	March 31,			December 31,
(in thousands)	2012			2011
Billed
Third parties	$	18,986		$	13,776
Ocwen		5,729			5,245
Correspondent One		53			123
HLSS		—			5
Other receivables		1,532			350
		26,300			19,499
Unbilled
Third parties		34,601			31,831
Ocwen		4,090			2,722
		64,991			54,052
Allowance for doubtful accounts		(2,679	)		(2,047	)
Total	$	62,312		$	52,005

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.