GOODWILL AND INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following is a summary of goodwill by segment:



(in thousands)	Mortgage Services			Financial Services		Total

Balance as of December 31, 2015	$	80,423		$	2,378	$	82,801
Acquisition of CastleLine ⁽¹⁾	(1,395		)	—		(1,395		)
Acquisitions of RentRange and Investability ⁽²⁾	50			—		50
Acquisition of Granite	8,449			—		8,449
Balance as of September 30, 2016	$	87,527		$	2,378	$	89,905


⁽¹⁾	During the second quarter of 2016, goodwill was revised to reflect a purchase accounting measurement period adjustment related to the CastleLine acquisition. See Note 4.


⁽²⁾	During the third quarter of 2016, goodwill was revised to reflect a purchase accounting measurement period adjustment related to the RentRange and Investability acquisition. See Note 4.

Intangible assets, net

Intangible assets, net consist of the following:



	Weighted average estimated useful life (in years)	Gross carrying amount				Accumulated amortization						Net book value
(in thousands)	Weighted average estimated useful life (in years)	September 30, 2016		December 31, 2015		September 30, 2016			December 31, 2015			September 30, 2016		December 31, 2015

Definite lived intangible assets:
Trademarks and trade names	13	$	15,254	$	15,244	$	(7,419	)	$	(6,491	)	$	7,835	$	8,753
Customer related intangible assets	10	274,428		274,428		(146,890		)	(113,725		)	127,538		160,703
Operating agreement	20	35,000		35,000		(11,667		)	(10,354		)	23,333		24,646
Non-compete agreements	4	1,460		1,435		(405		)	(115		)	1,055		1,320
Intellectual property	10	300		300		(78		)	(55		)	222		245
Other intangible assets	5	3,745		1,375		(752		)	(39		)	2,993		1,336

Total		$	330,187	$	327,782	$	(167,211	)	$	(130,779	)	$	162,976	$	197,003

Amortization expense for definite lived intangible assets was $36.4 million and $28.0 million for the nine months ended September 30, 2016 and 2015, respectively ($11.5 million and $10.1 million for the third quarter of 2016 and 2015, respectively). Expected annual definite lived intangible asset amortization for 2016 through 2020 is $47.7 million, $34.6 million, $26.1 million, $20.7 million and $16.8 million, respectively.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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