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LOSS ON HLSS EQUITY SECURITIES AND DIVIDENDS RECEIVED
9 Months Ended
Sep. 30, 2016
Other than Temporary Impairment Loss on Securities [Abstract]  
LOSS ON HLSS EQUITY SECURITIES AND DIVIDENDS RECEIVED
LOSS ON HLSS EQUITY SECURITIES AND DIVIDENDS RECEIVED
During March 2015, we purchased 1.6 million shares of HLSS common stock in the open market for $30.0 million. This investment was classified as available for sale. On April 6, 2015, HLSS completed the sale of substantially all of its assets to New Residential Investment Corp. (“NRZ”) and adopted a plan of complete liquidation and dissolution. During April 2015, we received liquidating dividends and other dividends from HLSS totaling $20.4 million and we sold all of our 1.6 million shares of HLSS common stock in the open market for $7.7 million. As a result of these transactions, we recognized a net loss of $1.9 million for the nine months ended September 30, 2015 (no comparative amounts in 2016) in connection with our investment in HLSS.