PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT, NET

PREMISES AND EQUIPMENT, NET

Premises and equipment, net consists of the following as of December 31:

(in thousands)	2015			2014
Computer hardware and software	$	177,010		$	140,799
Office equipment and other	21,720			36,032
Furniture and fixtures	14,443			12,231
Leasehold improvements	35,503			34,069
	248,676			223,131
Less: accumulated depreciation and amortization	(129,555		)	(95,372		)
Total	$	119,121		$	127,759

Depreciation and amortization expense amounted to $36.5 million, $29.0 million and $19.1 million for the years ended December 31, 2015, 2014 and 2013, respectively, and is included in cost of revenue for operating assets and in selling, general and administrative expenses for non-operating assets in the consolidated statements of operations.

In the fourth quarter of 2015, we recognized a $4.1 million premises and equipment impairment loss in our Technology Services segment primarily driven by the Company’s current projected Technology Services revenue from Ocwen and investment in technologies provided to Ocwen. There were no impairments of premises and equipment for the years ended December 31, 2014 and 2013.