10-Q/A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q/A

(Amendment No. 1)

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2012

or

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from      to                     

Commission file number: 001-35449

Nationstar Mortgage Holdings Inc.

(Exact name of registrant as specified in its charter)

Delaware	45-2156869
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
350 Highland Drive Lewisville, TX	75067
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code:

(469) 549-2000

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer or a non-accelerated filer. See definition of “accelerated filer” and “large accelerated filer” in Rule 12(b)-2 of the Exchange Act (check one)

Large Accelerated Filer	¨	Accelerated Filer	¨
Non-Accelerated Filer	x (Do not check if a smaller reporting company.)	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

Number of shares of common stock, $0.01 par value, outstanding as of August 14, 2012: 89,166,667

Explanatory Note

The sole purpose of this Amendment No. 1 (this "Amendment") to Nationstar Mortgage Holdings Inc.'s Quarterly Report on Form 10-Q for the period ended June 30, 2012, as filed with the Securities and Exchange Commission on August 14, 2012 (“the Form 10-Q”), is solely to furnish Exhibit 101 XBRL (eXtensible Business Reporting Language) interactive data files in accordance with Rule 405 (a)(2) of Regulation S-T.

Pursuant to Rule 406T of Regulation S-T, the interactive data files contained in Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

No other changes have been made to the Form 10-Q. This Amendment does not reflect any subsequent events occurring after the original filing date of the Form 10-Q or modify or update any other disclosures made in the Form 10-Q.

Item 6.Exhibits, Financial Statement Schedules

Exhibit No.	Description	Form	File No.	Exhibit	Filing Date	Filed or Furnished Herewith
1.1	Purchase Agreement, dated as of April 20, 2012, by and among Nationstar Mortgage LLC, Nationstar Capital Corporation, the guarantors party thereto, and Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., RBS Securities Inc. and Wells Fargo Securities, LLC, as representatives of the several initial purchasers	8-K	001-35449	1.1	April 25, 2012
2.1	Amended and Restated Asset Purchase Agreement, dated as of June 28, 2012 between Nationstar Mortgage LLC and Residential Capital, LLC, Residential Funding Company, LLC, GMAC Mortgage, LLC, Executive Trustee Services LLC, ETS of Washington, Inc., EPRE LLC, EPRE LLC, GMACM Borrower LLC and RFC Borrower LLC	8-K	001-35449	2.1	July 5, 2012
4.1	Indenture, dated as of April 25, 2012, by and among Nationstar Mortgage LLC, Nationstar Capital Corporation, the guarantors thereto and Wells Fargo Bank, National Association, as trustee	8-K	001-35449	4.1	April 25, 2012
4.2*	Indenture, dated as of June 12, 2012 between Nationstar Agency Advance Funding Trust 2012-AW and Wells Fargo Bank, National Association, as indenture trustee	10-Q	001-35449	4.2	August 14, 2012
4.3*	Indenture, dated as of June 26, 2012 between Nationstar Advance Funding Trust 2012-W and Wells Fargo Bank, National Association, as indenture trustee	10-Q	001-35449	4.3	August 14, 2012
4.4*	Indenture, dated as of June 26, 2012, between Nationstar Advance Funding Trust 2012-R and Wells Fargo Bank, National Association, as indenture trustee	10-Q	001-35449	4.4	August 14, 2012
4.5*	Indenture, dated as of June 26, 2012 between Nationstar Advance Funding Trust 2012-C and Wells Fargo Bank, National Association, as indenture trustee	10-Q	001-35449	4.5	August 14, 2012
10.1	Registration Rights Agreement, dated as of April 25, 2012, among Nationstar Mortgage LLC, Nationstar Capital Corporation, the guarantors party thereto, and Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., RBS Securities Inc. and Wells Fargo Securities, LLC, as representatives of the several initial purchasers	8-K	001-35449	10.1	April 25, 2012
10.2	Asset Purchase Agreement, dated as of May 13, 2012, between Nationstar Mortgage LLC and Residential Capital, LLC, Residential Funding Company, LLC, GMAC Mortgage, LLC, Executive Trustee Services, LLC, ETS of Washington, Inc., EPRE LLC and the additional Sellers identified on Schedule A thereto	8-K	001-35449	10.1	May 16, 2012

10.3	Current Excess Servicing Spread Acquisition Agreement for FNMA Mortgage Loans, dated as of May 13, 2012, between Nationstar Mortgage LLC and NIC MSR V LLC	8-K	001-35449	10.2	May 16, 2012
10.4	Future Spread Agreement for FNMA Mortgage Loans, dated May 13, 2012, between Nationstar Mortgage LLC and NIC MSR V LLC	8-K	001-35449	10.3	May 16, 2012
10.5	Current Excess Servicing Spread Acquisition Agreement for FHLMC Mortgage Loans, dated as of May 13, 2012, between Nationstar Mortgage LLC and NIC MSR IV LLC	8-K	001-35449	10.4	May 16, 2012
10.6	Future Spread Agreement for FHLMC Mortgage Loans, dated May 13, 2012, between Nationstar Mortgage LLC and NIC MSR IV LLC	8-K	001-35449	10.5	May 16, 2012
10.7	Current Excess Servicing Spread Acquisition Agreement for Non-Agency Mortgage Loans, dated as of May 13, 2012, between Nationstar Mortgage LLC and NIC MSR VI LLC	8-K	001-35449	10.6	May 16, 2012
10.8	Future Spread Agreement for Non-Agency Mortgage Loans, dated May 13, 2012, between Nationstar Mortgage LLC and NIC MSR VI LLC	8-K	001-35449	10.7	May 16, 2012
10.9	Current Excess Servicing Spread Acquisition Agreement for GNMA Mortgage Loans, dated as of May 13, 2012, between Nationstar Mortgage LLC and NIC MSR VII LLC	8-K	001-35449	10.8	May 16, 2012
10.10	Future Spread Agreement for GNMA Mortgage Loans, dated May 13, 2012, between Nationstar Mortgage LLC and NIC MSR VII LLC	8-K	001-35449	10.9	May 16, 2012
10.11	First Letter Agreement, dated as of June 1, 2012 among Aurora Bank FSB, Aurora Loan Services LLC and Nationstar Mortgage LLC	8-K	001-35449	10.1	June 7, 2012
10.12	Second Letter Agreement, dated as of June 1, 2012 among Aurora Bank FSB, Aurora Loan Services LLC and Nationstar Mortgage LLC	8-K	001-35449	10.2	June 7, 2012
10.13	Amended and Restated Asset Purchase Agreement, dated as of June 12, 2012, among Aurora Bank FSB, Aurora Loan Services LLC and Nationstar Mortgage LLC	8-K	001-35449	10.1	June 14, 2012
10.14	Amended and Restated Current Excess Servicing Spread Acquisition Agreement for FNMA Mortgage Loans, dated as of June 28, 2012, between Nationstar Mortgage LLC and NIC MSR V LLC	8-K	001-35449	10.1	July 5, 2012
10.15	Amended and Restated Current Excess Servicing Spread Acquisition Agreement for FHLMC Mortgage Loans, dated as of June 28, 2012, between Nationstar Mortgage LLC and NIC MSR IV LLC	8-K	001-35449	10.2	July 5, 2012

10.16	Amended and Restated Current Excess Servicing Spread Acquisition Agreement for Non-Agency Mortgage Loans, dated as of June 28, 2012, between Nationstar Mortgage LLC and NIC MSR VI LLC	8-K	001-35449	10.3	July 5, 2012
10.17	Amended and Restated Current Excess Servicing Spread Acquisition Agreement for GNMA Mortgage Loans, dated as of June 28, 2012, between Nationstar Mortgage LLC and NIC MSR VII LLC	8-K	001-35449	10.4	July 5, 2012
10.18	Registration Rights Agreement, dated as of July 24, 2012, among Nationstar Mortgage LLC, Nationstar Capital Corporation, the guarantors party thereto, and Credit Suisse Securities (USA) LLC, RBS Securities Inc. and Wells Fargo Securities, LLC, as representatives of the several initial purchasers	8-K	001-35449	10.1	July 24, 2012
10.19	Receivables Purchase Agreement, dated as of June 12, 2012, among Nationstar Agency Advance Funding Trust 2012-AW, Nationstar Agency Advance Funding 2012-AW, LLC and Nationstar Mortgage LLC	10-Q	001-35449	10.19	August 14, 2012
10.20	Receivables Purchase Agreement, dated as of June 26, 2012, among Nationstar Advance Funding Trust 2012-C, Nationstar Advance Funding 2012-C, LLC and Nationstar Mortgage LLC	10-Q	001-35449	10.20	August 14, 2012
10.21	Receivables Purchase Agreement, dated as of June 26, 2012, among Nationstar Advance Funding Trust 2012-R, Nationstar Advance Funding 2012-R, LLC and Nationstar Mortgage LLC	10-Q	001-35449	10.21	August 14, 2012
10.22	Receivables Purchase Agreement, dated as of June 26, 2012, among Nationstar Advance Funding Trust 2012-W, Nationstar Advance Funding 2012-W, LLC and Nationstar Mortgage LLC	10-Q	001-35449	10.22	August 14, 2012
31.1	Certification by Chief Executive Officer pursuant to Rules 13a 14(a) and 15d 14(a) under the Securities Exchange Act of 1934 and Section 302 of the Sarbanes-Oxley Act of 2002	10-Q	001-35449	31.1	August 14, 2012
31.2	Certification by Chief Financial Officer pursuant to Rules 13a 14(a) and 15d 14(a) under the Securities Exchange Act of 1934 and Section 302 of the Sarbanes-Oxley Act of 2002	10-Q	001-35449	31.2	August 14, 2012
32.1	Certification by Chief Executive Officer pursuant to 18 USC. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	10-Q	001-35449	32.1	August 14, 2012
32.2	Certification by Chief Financial Officer pursuant to 18 USC. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	10-Q	001-35449	32.2	August 14, 2012

101.INS	XBRL Instance Document	X
101.SCH	XBRL Taxonomy Extension Schema Document	X
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document	X
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document	X
101.LAB	XBRL Taxonomy Extension Label Linkbase Document	X
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document	X
*	Certain portions of this exhibit have been omitted pursuant to confidential treatment granted by the SEC under Rule 24b-2 as promulgated with the Securities Exchange Act of 1934, as amended.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	NATIONSTAR MORTGAGE HOLDINGS INC.
September 11, 2012	/s/ David C. Hisey
Date	David C.Hisey Chief Financial Officer

EXHIBIT INDEX

Exhibit No.	Description	Form	File No.	Exhibit	Filing Date	Filed or Furnished Herewith
1.1	Purchase Agreement, dated as of April 20, 2012, by and among Nationstar Mortgage LLC, Nationstar Capital Corporation, the guarantors party thereto, and Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., RBS Securities Inc. and Wells Fargo Securities, LLC, as representatives of the several initial purchasers	8-K	001-35449	1.1	April 25, 2012
2.1	Amended and Restated Asset Purchase Agreement, dated as of June 28, 2012 between Nationstar Mortgage LLC and Residential Capital, LLC, Residential Funding Company, LLC, GMAC Mortgage, LLC, Executive Trustee Services LLC, ETS of Washington, Inc., EPRE LLC, EPRE LLC, GMACM Borrower LLC and RFC Borrower LLC	8-K	001-35449	2.1	July 5, 2012
4.1	Indenture, dated as of April 25, 2012, by and among Nationstar Mortgage LLC, Nationstar Capital Corporation, the guarantors thereto and Wells Fargo Bank, National Association, as trustee	8-K	001-35449	4.1	April 25, 2012
4.2*	Indenture, dated as of June 12, 2012 between Nationstar Agency Advance Funding Trust 2012-AW and Wells Fargo Bank, National Association, as indenture trustee	10-Q	001-35449	4.2	August 14, 2012
4.3*	Indenture, dated as of June 26, 2012 between Nationstar Advance Funding Trust 2012-W and Wells Fargo Bank, National Association, as indenture trustee	10-Q	001-35449	4.3	August 14, 2012
4.4*	Indenture, dated as of June 26, 2012, between Nationstar Advance Funding Trust 2012-R and Wells Fargo Bank, National Association, as indenture trustee	10-Q	001-35449	4.4	August 14, 2012
4.5*	Indenture, dated as of June 26, 2012 between Nationstar Advance Funding Trust 2012-C and Wells Fargo Bank, National Association, as indenture trustee	10-Q	001-35449	4.5	August 14, 2012
10.1	Registration Rights Agreement, dated as of April 25, 2012, among Nationstar Mortgage LLC, Nationstar Capital Corporation, the guarantors party thereto, and Credit Suisse Securities (USA) LLC, Barclays Capital Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc., RBS Securities Inc. and Wells Fargo Securities, LLC, as representatives of the several initial purchasers	8-K	001-35449	10.1	April 25, 2012

10.2	Asset Purchase Agreement, dated as of May 13, 2012, between Nationstar Mortgage LLC and Residential Capital, LLC, Residential Funding Company, LLC, GMAC Mortgage, LLC, Executive Trustee Services, LLC, ETS of Washington, Inc., EPRE LLC and the additional Sellers identified on Schedule A thereto	8-K	001-35449	10.1	May 16, 2012
10.3	Current Excess Servicing Spread Acquisition Agreement for FNMA Mortgage Loans, dated as of May 13, 2012, between Nationstar Mortgage LLC and NIC MSR V LLC	8-K	001-35449	10.2	May 16, 2012
10.4	Future Spread Agreement for FNMA Mortgage Loans, dated May 13, 2012, between Nationstar Mortgage LLC and NIC MSR V LLC	8-K	001-35449	10.3	May 16, 2012
10.5	Current Excess Servicing Spread Acquisition Agreement for FHLMC Mortgage Loans, dated as of May 13, 2012, between Nationstar Mortgage LLC and NIC MSR IV LLC	8-K	001-35449	10.4	May 16, 2012
10.6	Future Spread Agreement for FHLMC Mortgage Loans, dated May 13, 2012, between Nationstar Mortgage LLC and NIC MSR IV LLC	8-K	001-35449	10.5	May 16, 2012
10.7	Current Excess Servicing Spread Acquisition Agreement for Non-Agency Mortgage Loans, dated as of May 13, 2012, between Nationstar Mortgage LLC and NIC MSR VI LLC	8-K	001-35449	10.6	May 16, 2012
10.8	Future Spread Agreement for Non-Agency Mortgage Loans, dated May 13, 2012, between Nationstar Mortgage LLC and NIC MSR VI LLC	8-K	001-35449	10.7	May 16, 2012
10.9	Current Excess Servicing Spread Acquisition Agreement for GNMA Mortgage Loans, dated as of May 13, 2012, between Nationstar Mortgage LLC and NIC MSR VII LLC	8-K	001-35449	10.8	May 16, 2012
10.1	Future Spread Agreement for GNMA Mortgage Loans, dated May 13, 2012, between Nationstar Mortgage LLC and NIC MSR VII LLC	8-K	001-35449	10.9	May 16, 2012
10.11	First Letter Agreement, dated as of June 1, 2012 among Aurora Bank FSB, Aurora Loan Services LLC and Nationstar Mortgage LLC	8-K	001-35449	10.1	June 7, 2012
10.12	Second Letter Agreement, dated as of June 1, 2012 among Aurora Bank FSB, Aurora Loan Services LLC and Nationstar Mortgage LLC	8-K	001-35449	10.2	June 7, 2012
10.13	Amended and Restated Asset Purchase Agreement, dated as of June 12, 2012, among Aurora Bank FSB, Aurora Loan Services LLC and Nationstar Mortgage LLC	8-K	001-35449	10.1	June 14, 2012
10.14	Amended and Restated Current Excess Servicing Spread Acquisition Agreement for FNMA Mortgage Loans, dated as of June 28, 2012, between Nationstar Mortgage LLC and NIC MSR V LLC	8-K	001-35449	10.1	July 5, 2012

10.15	Amended and Restated Current Excess Servicing Spread Acquisition Agreement for FHLMC Mortgage Loans, dated as of June 28, 2012, between Nationstar Mortgage LLC and NIC MSR IV LLC	8-K	001-35449	10.2	July 5, 2012
10.15	Amended and Restated Current Excess Servicing Spread Acquisition Agreement for FHLMC Mortgage Loans, dated as of June 28, 2012, between Nationstar Mortgage LLC and NIC MSR IV LLC	8-K	001-35449	10.2	July 5, 2012
10.16	Amended and Restated Current Excess Servicing Spread Acquisition Agreement for Non-Agency Mortgage Loans, dated as of June 28, 2012, between Nationstar Mortgage LLC and NIC MSR VI LLC	8-K	001-35449	10.3	July 5, 2012
10.17	Amended and Restated Current Excess Servicing Spread Acquisition Agreement for GNMA Mortgage Loans, dated as of June 28, 2012, between Nationstar Mortgage LLC and NIC MSR VII LLC	8-K	001-35449	10.4	July 5, 2012
10.18	Registration Rights Agreement, dated as of July 24, 2012, among Nationstar Mortgage LLC, Nationstar Capital Corporation, the guarantors party thereto, and Credit Suisse Securities (USA) LLC, RBS Securities Inc. and Wells Fargo Securities, LLC, as representatives of the several initial purchasers	8-K	001-35449	10.1	July 24, 2012
10.19	Receivables Purchase Agreement, dated as of June 12, 2012, among Nationstar Agency Advance Funding Trust 2012-AW, Nationstar Agency Advance Funding 2012-AW, LLC and Nationstar Mortgage LLC	10-Q	001-35449	10.19	August 14, 2012
10.20	Receivables Purchase Agreement, dated as of June 26, 2012, among Nationstar Advance Funding Trust 2012-C, Nationstar Advance Funding 2012-C, LLC and Nationstar Mortgage LLC	10-Q	001-35449	10.20	August 14, 2012
10.21	Receivables Purchase Agreement, dated as of June 26, 2012, among Nationstar Advance Funding Trust 2012-R, Nationstar Advance Funding 2012-R, LLC and Nationstar Mortgage LLC	10-Q	001-35449	10.21	August 14, 2012
10.22	Receivables Purchase Agreement, dated as of June 26, 2012, among Nationstar Advance Funding Trust 2012-W, Nationstar Advance Funding 2012-W, LLC and Nationstar Mortgage LLC	10-Q	001-35449	10.22	August 14, 2012
31.1	Certification by Chief Executive Officer pursuant to Rules 13a 14(a) and 15d 14(a) under the Securities Exchange Act of 1934 and Section 302 of the Sarbanes-Oxley Act of 2002	10-Q	001-35449	31.1	August 14, 2012

31.2	Certification by Chief Financial Officer pursuant to Rules 13a 14(a) and 15d 14(a) under the Securities Exchange Act of 1934 and Section 302 of the Sarbanes-Oxley Act of 2002	10-Q	001-35449	31.2	August 14, 2012
32.1	Certification by Chief Executive Officer pursuant to 18 USC. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	10-Q	001-35449	32.1	August 14, 2012
32.2	Certification by Chief Financial Officer pursuant to 18 USC. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002	10-Q	001-35449	32.2	August 14, 2012
101.INS	XBRL Instance Document					X
101.SCH	XBRL Taxonomy Extension Schema Document					X
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document					X
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document					X
101.LAB	XBRL Taxonomy Extension Label Linkbase Document					X
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document					X
*	Certain portions of this exhibit have been omitted pursuant to confidential treatment granted by the SEC under Rule 24b-2 as promulgated with the Securities Exchange Act of 1934, as amended.

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Indebtedness (Tables)

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Schedule of Notes Payable

A summary of the balances of unsecured senior notes is presented below (in thousands):

	June 30, 2012		December 31, 2011
$285 million face value, 10.875% interest rate payable semi-annually, due April 2015.	$	280,938	$	280,199
$275 million face value, 9.625% interest rate payable semi-annually, due May 2019.	275,000		—
Total	$	555,938	$	280,199

A summary of the balances of notes payable for the dates indicated is presented below (in thousands).

	June 30, 2012				December 31, 2011
	Outstanding		Collateral Pledged		Outstanding		Collateral Pledged
Servicing Segment Notes Payable
MBS advance financing facility	$	157,241	$	160,450	$	179,904	$	182,096
Securities repurchase facility (2011)	11,774		55,603		11,774		55,603
2010-ABS advance financing facility	197,085		227,987		219,563		249,499
2011-1 Agency advance financing facility	42,705		47,492		25,011		28,811
MSR note	7,404		14,367		10,180		16,230
2012-AW Agency advance financing facility	84,151		102,164		—		—
2012-C ABS advance financing facility	533,217		690,097		—		—
2012-R ABS advance financing facility	312,092		371,422		—		—
2012-W ABS advance financing facility	359,541		442,912		—		—
Reverse participations financing facility	—		—		—		—
Originations Segment Notes Payable
$375 million warehouse facility	297,743		314,763		46,810		51,040
$150 million warehouse facility	77,251		83,891		251,722		265,083
$250 million warehouse facility (2011)	109,729		115,509		7,310		7,672
$100 million warehouse facility (2009)	98,747		102,861		16,047		16,715
ASAP+ facility	123,684		121,458		104,858		104,006
Total notes payable	$	2,412,364	$	2,850,976	$	873,179	$	976,755

Schedule of Maturities of Long-term Debt

The expected maturities of Nationstar's senior unsecured notes based on contractual maturities are as follows (in thousands).

Year	Amount
2013	$	—
2014	—
2015	285,000
2016	—
2017	—
Thereafter	275,000
Total	$	560,000

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Mortgage Loans Held for Sale and Investment - Reconciliation to Cash Flow (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Loans Receivable Held-for-sale, Net, Reconciliation to Cash Flow [Roll Forward]
Mortgage loans held for sale - beginning balance	$ 458,626	$ 369,617
Mortgage loans originated and purchased, net of fees	2,996,372	1,378,039
Cost of loans sold, net of fees	(2,639,778)	(1,490,814)
Principal payments received on mortgage loans held for sale and other changes	24,188	4,465
Transfer of mortgage loans held for sale to held for investment	(1,502)	(288)
Mortgage loans held for sale - ending balance	$ 837,906	$ 261,019

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Variable Interest Entities and Securitizations - Assets and Liabilities of Consolidated VIEs (Details) (Residential Mortgage, USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	$ 2,163,110	$ 542,894
Liabilities	1,643,307	358,041
Restricted Cash
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	47,464	22,316
Accounts Receivable
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	1,883,312	279,414
Mortgage Loans Held for Investment
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	229,797	237,496
Real Estate Owned
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Assets	2,537	3,668
Notes Payable
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	1,528,791	244,574
Payables and Accrued Liabilities
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	1,469	977
Derivative Financial Instruments
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	6,776	0
Nonrecourse Debt-Legacy Assets
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Liabilities	$ 106,271	$ 112,490

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Derivative Financial Instruments - Derivative Instruments (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended		12 Months Ended
	Jun. 30, 2012		Dec. 31, 2011
Forward Contracts | Loans Held-for-sale, Mortgages [Member]
Derivatives, Fair Value [Line Items]
Fair Value - Asset	$ 306		$ 634
Recorded Gains / (Losses)	(328)		592
Forward Contracts | Derivative Financial Instruments
Derivatives, Fair Value [Line Items]
Fair Value - Liability	10,890		5,830
Recorded Gains / (Losses)	(5,060)		(9,792)
Forward Contracts | Designated as Hedging Instrument | Loans Held-for-sale, Mortgages [Member]
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	7,782		28,047
Forward Contracts | Designated as Hedging Instrument | Derivative Financial Instruments
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	2,154,800		691,725
Interest Rate Lock Commitments | Other Assets
Derivatives, Fair Value [Line Items]
Fair Value - Asset	53,193		11,302
Recorded Gains / (Losses)	41,891		6,598
Interest Rate Lock Commitments | Designated as Hedging Instrument | Other Assets
Derivatives, Fair Value [Line Items]
Outstanding Notional - Asset	2,443,489		736,377
Interest Rate Swaps and Caps | Derivative Financial Instruments
Derivatives, Fair Value [Line Items]
Fair Value - Liability	6,778		6,540
Recorded Gains / (Losses)	188		1,261
Interest Rate Swaps and Caps | Designated as Hedging Instrument | Derivative Financial Instruments
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	675,124		193,500
Asset Backed Securities | Interest Rate Swap | Derivative Financial Instruments
Derivatives, Fair Value [Line Items]
Fair Value - Liability	1,243	[1]	0	[2]
Recorded Gains / (Losses)	(813)	[1]	(8,058)	[2]
Asset Backed Securities | Interest Rate Swap | Designated as Hedging Instrument | Derivative Financial Instruments
Derivatives, Fair Value [Line Items]
Outstanding Notional - Liability	$ 963,973	[1]	$ 0	[2]

[1] In March 2012, Nationstar received interest rate swaps from FIF as a part of the reorganization.

[2] In December 2011, Nationstar sold its remaining variable interest in a securitization trust that had been a consolidated VIE since January 1, 2010 and deconsolidated the VIE. Upon deconsolidation of this VIE, Nationstar derecognized the related ABS nonrecourse debt and therefore the underlying interest rate swap, subject to ABS nonrecourse debt.

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Mortgage Loans Held for Sale and Investment - Mortgage Loans Held for Investment (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Dec. 31, 2010
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total mortgage loans held for investment, subject to nonrecourse debt - legacy assets, net	$ 238,173	$ 243,480
Mortgage Loans Held for Investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans held for investment, subject to nonrecourse debt - legacy assets, net - unpaid principal balance	365,258	375,720
Transfer discount - accretable	(22,193)	(22,392)	(25,219)
Transfer discount - non-accretable	(98,791)	(104,024)
Allowance for loan losses	(6,101)	(5,824)	(3,298)
Total mortgage loans held for investment, subject to nonrecourse debt - legacy assets, net	$ 238,173	$ 243,480

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Indebtedness - Participating Interest Financing (Details) (USD $) In Thousands, unless otherwise specified			6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2012 Participating Interest Financing
Debt Instrument
Interest rate, minimum			0.53%
Interest rate, maximum			7.17%
Participating interest financing	$ 181,114	$ 0

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Nature of Business, Basis of Presentation and Material Transaction (Details) (Common Stock)	6 Months Ended
	Jun. 30, 2012
Common Stock
Schedule of Capitalization, Equity [Line Items]
Number of shares issued to FIF as part of Reorganization	70,000,000

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Accounts Receivable (Tables)

6 Months Ended

Jun. 30, 2012

Receivables [Abstract]

Schedule of Accounts Receivable

Accounts receivable consist of the following (in thousands):

	June 30, 2012		December 31, 2011
Delinquent interest advances	$	1,286,525	$	213,737
Corporate and escrow advances	1,028,722		299,946
Insurance deposits	1,750		1,750
Accrued interest	3,449		1,512
Receivables from trusts	16,920		4,664
Accrued servicing fees	95,632		20,865
Other	54,993		19,826
Total accounts receivable	$	2,487,991	$	562,300

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General and Administrative Expenses (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
General and Administrative Expense [Abstract]
Servicing	$ 22,553	$ 5,129	$ 36,443	$ 8,995
Professional Fees	9,465	1,541	14,567	4,637
Depreciation and amortization	1,854	808	3,385	1,560
Advertising	1,306	1,204	2,048	2,053
Equipment	1,771	1,086	3,119	1,994
Telecommunications	1,159	971	2,328	1,791
Postage	1,347	898	2,661	2,415
Stationary and supplies	1,059	949	2,053	1,951
Travel	1,884	818	2,705	1,512
Dues and fees	1,687	1,471	2,599	2,444
Insurance, taxes, and other	2,325	871	3,614	1,958
Total general and administrative expense	$ 46,410	$ 15,746	$ 75,522	$ 31,310

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Indebtedness - Originations Segment Notes Payable (Details) (Originations Segment, USD $)	6 Months Ended		6 Months Ended		6 Months Ended				6 Months Ended					6 Months Ended
	Jun. 30, 2012 Notes Payable to Banks Warehouse Facility $375 Million	May 31, 2012 Notes Payable to Banks Warehouse Facility $375 Million	Jun. 30, 2012 Notes Payable to Banks Warehouse Facility $250 Million (2011)	May 31, 2012 Notes Payable to Banks Warehouse Facility $250 Million (2011)	Jun. 30, 2012 Notes Payable to Banks Warehouse Facility $100 Million (2009)	Jun. 30, 2012 Notes Payable, Other Warehouse Facility $150 Million	Feb. 29, 2012 Notes Payable, Other Warehouse Facility $150 Million	Jan. 31, 2012 Notes Payable, Other Warehouse Facility $150 Million	Jun. 30, 2012 Notes Payable, Other ASAP Plus Facility	Jun. 30, 2012 Minimum Notes Payable to Banks Warehouse Facility $375 Million	Jun. 30, 2012 Minimum Notes Payable to Banks Warehouse Facility $250 Million (2011)	Jun. 30, 2012 Maximum Notes Payable to Banks Warehouse Facility $375 Million	Jun. 30, 2012 Maximum Notes Payable to Banks Warehouse Facility $250 Million (2011)	Jun. 30, 2012 Maximum Notes Payable, Other ASAP Plus Facility
Debt Instrument
Maximum borrowing capacity	$ 375,000,000	$ 175,000,000	$ 250,000,000	$ 100,000,000	$ 100,000,000		$ 150,000,000	$ 300,000,000
Variable interest rate basis	LIBOR		LIBOR		LIBOR	LIBOR			LIBOR
Interest Rate, LIBOR Plus a spread of					3.50%		3.25%		1.50%	1.75%	2.25%	2.50%	3.00%
Maturity length														45 days

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Commitments and Contingencies - Litigation and Regulatory Matters (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2012	Jun. 30, 2011
Commitments and Contingencies Disclosure [Abstract]
Legal Fees	$ 4.6	$ 6.2	$ 1.5

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Mortgage Loans Held for Sale and Investment - Allowance (Details) (Mortgage Loans Held for Investment, USD $)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Financing Receivable, Allowance for Credit Losses
Transferred loans, provision for loan losses	$ 900,000	$ 0	$ 1,600,000	$ 1,100,000
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at the beginning of the period			5,824,000	3,298,000	3,298,000
Provision for loan losses			1,608,000		3,537,000
Recoveries on loans previously charged off			0		0
Charge-offs			(1,331,000)		(1,011,000)
Balance at the end of the period	6,101,000		6,101,000		5,824,000
Ending balance - collectively evaluated for impairment	365,258,000		365,258,000		375,720,000
Performing
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at the beginning of the period			1,641,000	829,000	829,000
Provision for loan losses			1,876,000		1,346,000
Recoveries on loans previously charged off			0		0
Charge-offs			(978,000)		(534,000)
Balance at the end of the period	2,539,000		2,539,000		1,641,000
Ending balance - collectively evaluated for impairment	294,527,000		294,527,000		283,770,000
Nonperforming
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Balance at the beginning of the period			4,183,000	2,469,000	2,469,000
Provision for loan losses			(268,000)		2,191,000
Recoveries on loans previously charged off			0		0
Charge-offs			(353,000)		(477,000)
Balance at the end of the period	3,562,000		3,562,000		4,183,000
Ending balance - collectively evaluated for impairment	$ 70,731,000		$ 70,731,000		$ 91,950,000

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Indebtedness - Legacy Assets (Details) (USD $)	Nov. 30, 2009	Jun. 30, 2012 Legacy Asset [Member]	Dec. 31, 2011 Legacy Asset [Member]	Jun. 30, 2012 Nonrecourse Debt-Legacy Assets	Dec. 31, 2011 Nonrecourse Debt-Legacy Assets	Jun. 30, 2012 Secured Debt Nonrecourse Debt-Legacy Assets	Jun. 30, 2012 Securities Pledged as Collateral [Member]	Dec. 31, 2011 Securities Pledged as Collateral [Member]
Debt Instrument
Nonrecourse Debt Legacy Assets		$ 106,271,000	$ 112,490,000
Interest rate						7.50%
Unpaid principal balance on outstanding notes	222,000,000						353,100,000	373,100,000
Debt Instrument, Principal Amount Outstanding				$ 123,600,000	$ 130,800,000

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Shareholders' Equity (Details) (USD $)	3 Months Ended		6 Months Ended			6 Months Ended	0 Months Ended	1 Months Ended	6 Months Ended	0 Months Ended		3 Months Ended	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011	Jun. 30, 2012 Restricted Preferred Units	Mar. 09, 2012 2012 Plan Restricted Stock	Apr. 30, 2012 2012 Plan Restricted Stock	Jun. 30, 2012 2012 Plan Restricted Stock	Mar. 09, 2012 2012 Plan Management Restricted Stock	Mar. 09, 2012 2012 Plan Members of the Board Restricted Stock	Jun. 30, 2012 Predecessor Plan	Jun. 30, 2012 Predecessor Plan	Jun. 30, 2012 Nationstar Mortgage LLC
Share-based Compensation Arrangement by Share-based Payment Award
Grants								0		1,191,117	85,716
Vesting period									3 years
Number vesting in February 2013									419,358
Number vesting in 2014									419,358
Number vesting in 2015									420,617
Weighted average grant date fair value						$ 4.23	$ 14.00
Shares of Nationstar Mortgage stock held by Nationstar LLC														212,156
Value of Nationstar Mortgage shares held by Nationstar LLC	$ 4,566,000		$ 4,566,000		$ 0
Compensation expense, net of forfeitures	5,600,000	5,300,000	8,000,000	10,500,000								5,300,000	10,500,000
Compensation expense to recognize in remaining 2012	5,400,000		5,400,000
Compensation expense to recognize in 2013	5,900,000		5,900,000
Compensation expense to recognize in 2014	2,500,000		2,500,000
Compensation expense to recognize in 2015	$ 400,000		$ 400,000

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Fair Value Measurements - Fair Value Assumptions (Details) (Excess Spread Financing)	6 Months Ended
	Jun. 30, 2012
Excess Spread Financing
Assumption for Fair Value as of Balance Sheet Date of Assets or Liabilities that relate to Transferor's Continuing Involvement
Mortgage prepayment speeds	19.00%
Average life	3 years 7 months 6 days
Discount rate	14.80%

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Shareholders' Equity - Restricted Stock Rollforward (Details) (2012 Plan, Restricted Stock, USD $)	1 Months Ended	3 Months Ended
	Apr. 30, 2012	Mar. 31, 2012	Jun. 30, 2012
2012 Plan | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Restricted Stock outstanding at March 31, 2012	1,277,000		1,259,000
Restricted Stock outstanding at March 31, 2012, Grant Date Fair Value		$ 14.00
Restricted Stock outstanding at March 31, 2012, Remaining Contractual Term		2 years 8 months 12 days
Granted	0
Forfeited	(18,000)
Restricted Stock outstanding at June 30, 2012		1,277,000	1,259,000
Restricted Stock unvested and expected to vest at June 30, 2012			1,259,000
Restricted Stock vested and payable at June 30, 2012			0

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Indebtedness - Excess Spread Financing Debt (Details) (USD $) In Thousands, unless otherwise specified			1 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Dec. 31, 2011 Newcastle
Debt Instrument
Percentage interest sold in excess cash flow			65.00%
Percentage interest retained of excess cash flow			35.00%
Excess spread financing at fair value	$ 266,693	$ 44,595

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Indebtedness - Notes Payable Summary (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Debt Instrument
Outstanding	$ 2,412,364	$ 873,179
Collateral Pledged	2,850,976	976,755
Servicing Segment | Notes Payable, Other | MBS Advance Financing Facility
Debt Instrument
Outstanding	157,241	179,904
Collateral Pledged	160,450	182,096
Servicing Segment | Notes Payable, Other | Securities Repurchase Facility (2011)
Debt Instrument
Outstanding	11,774	11,774
Collateral Pledged	55,603	55,603
Servicing Segment | Notes Payable, Other | MSR Note
Debt Instrument
Outstanding	7,404	10,180
Collateral Pledged	14,367	16,230
Servicing Segment | Notes Payable to Banks | ABS Advance Financing Facility (2010)
Debt Instrument
Outstanding	197,085	219,563
Collateral Pledged	227,987	249,499
Servicing Segment | Notes Payable to Banks | Agency Advance Financing Facility (2011-1)
Debt Instrument
Outstanding	42,705	25,011
Collateral Pledged	47,492	28,811
Servicing Segment | Notes Payable to Banks | AW Agency Advance Financing Facility (2012)
Debt Instrument
Outstanding	84,151	0
Collateral Pledged	102,164	0
Servicing Segment | Notes Payable to Banks | C ABS Advance Financing Facility (2012)
Debt Instrument
Outstanding	533,217	0
Collateral Pledged	690,097	0
Servicing Segment | Notes Payable to Banks | R ABS Advance Financing Facility (2012)
Debt Instrument
Outstanding	312,092	0
Collateral Pledged	371,422	0
Servicing Segment | Notes Payable to Banks | W ABS Advance Financing Facility (2012)
Debt Instrument
Outstanding	359,541	0
Collateral Pledged	442,912	0
Servicing Segment | Notes Payable to Banks | Reverse Participations Financing Facility
Debt Instrument
Outstanding	0	0
Collateral Pledged	0	0
Originations Segment | Notes Payable, Other | Warehouse Facility $150 Million
Debt Instrument
Outstanding	77,251	251,722
Collateral Pledged	83,891	265,083
Originations Segment | Notes Payable, Other | ASAP Plus Facility
Debt Instrument
Outstanding	123,684	104,858
Collateral Pledged	121,458	104,006
Originations Segment | Notes Payable to Banks | Warehouse Facility $375 Million
Debt Instrument
Outstanding	297,743	46,810
Collateral Pledged	314,763	51,040
Originations Segment | Notes Payable to Banks | Warehouse Facility $250 Million (2011)
Debt Instrument
Outstanding	109,729	7,310
Collateral Pledged	115,509	7,672
Originations Segment | Notes Payable to Banks | Warehouse Facility $100 Million (2009)
Debt Instrument
Outstanding	98,747	16,047
Collateral Pledged	$ 102,861	$ 16,715

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Business Segment Reporting

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Business Segment Reporting

Business Segment Reporting

Nationstar currently conducts business in two separate operating segments: Servicing and Originations. The Servicing segment provides loan servicing on Nationstar’s total servicing portfolio, including the collection of principal and interest payments and the assessment of ancillary fees related to the servicing of mortgage loans. The Originations segment involves the origination, packaging, and sale of agency mortgage loans into the secondary markets via whole loan sales or securitizations. Nationstar reports the activity not related to either operating segment in the Legacy Portfolio and Other column. The Legacy Portfolio and Other column includes primarily all subprime mortgage loans originated in the latter portion of 2006 and during 2007 or acquired from Nationstar’s predecessor and consolidated VIEs which were consolidated pursuant to consolidation guidance related to VIEs adopted on January 1, 2010.

Nationstar’s segments are based upon Nationstar’s organizational structure which focuses primarily on the services offered. The accounting policies of each reportable segment are the same as those of Nationstar except for 1) expenses for consolidated back-office operations and general overhead-type expenses such as executive administration and accounting and 2) revenues generated on inter-segment services performed. Expenses are allocated to individual segments based on the estimated value of services performed, including total revenue contributions, personnel headcount, and the equity invested in each segment. Revenues generated or inter-segment services performed are valued based on similar services provided to external parties.

To reconcile to Nationstar’s consolidated results, certain inter-segment revenues and expenses are eliminated in the “Elimination” column in the following tables.

The following tables are a presentation of financial information by segment for the periods indicated (in thousands):

	Three months ended June 30, 2012
	Servicing			Originations			Operating Segments			Legacy Portfolio and Other			Eliminations			Consolidated
REVENUES:
Servicing fee income	$	85,926		$	—		$	85,926		$	620		$	(454	)	$	86,092
Other fee income	5,969			5,739			11,708			(98		)				11,610
Total fee income	91,895			5,739			97,634			522			(454		)	97,702
Gain/(loss) on mortgage loans held for sale	—			102,335			102,335			—			10			102,345
Total revenues	91,895			108,074			199,969			522			(444		)	200,047
Total expenses and impairments	73,656			47,980			121,636			8,726			10			130,372
Other income (expense):
Interest income	5,237			5,017			10,254			4,942			454			15,650
Interest expense	(28,295		)	(4,014		)	(32,309		)	(3,604		)	—			(35,913		)
Gain (loss) on interest rate swaps and caps	150			—			150			(507		)	—			(357		)
Total other income (expense)	(22,908		)	1,003			(21,905		)	831			454			(20,620		)
Income (loss) before taxes	$	(4,669	)	$	61,097		$	56,428		$	(7,373	)	$	—		$	49,055
Depreciation and amortization	$	1,238		$	520		$	1,758		$	96		$	—		$	1,854
Total assets	3,553,883			1,071,251			4,625,134			271,096			—			4,896,230

	Three months ended June 30, 2011
	Servicing			Originations			Operating Segments			Legacy Portfolio and Other			Eliminations				Consolidated
REVENUES:
Servicing fee income	$	52,665		$	—		$	52,665		$	345		$	(1,774	)		$	51,236
Other fee income	3,466			3,825			7,291			850			—				8,141
Total fee income	56,131			3,825			59,956			1,195			(1,774		)		59,377
Gain/(loss) on mortgage loans held for sale	—			22,911			22,911			—			(89		)		22,822
Total revenues	56,131			26,736			82,867			1,195			(1,863		)		82,199
Total expenses and impairments	39,896			23,702			63,598			4,893			(89		)		68,402
Other income (expense):
Interest income	655			2,901			3,556			11,397			1,774				16,727
Interest expense	(13,491		)	(2,510		)	(16,001		)	(9,184		)	—				(25,185		)
Fair value changes ABS securitizations	—			—			—			(3,613		)	—				(3,613		)
Total other income (expense)	(12,836		)	391			(12,445		)	(1,400		)	1,774				(12,071		)
Income before taxes	$	3,399		$	3,425		$	6,824		$	(5,098	)	$	—		18	$	1,726
Depreciation and amortization	$	396		$	298		$	694		$	114		$	—			$	808
Total assets	702,501			305,023			1,007,524			783,218			—				1,790,742

	Six months ended June 30, 2012
	Servicing			Originations			Operating Segments			Legacy Portfolio and Other			Eliminations			Consolidated
REVENUES:
Servicing fee income	$	169,726		$	—		$	169,726		$	1,237		$	(921	)	$	170,042
Other fee income	13,271			5,720			18,991			(128		)				18,863
Total fee income	182,997			5,720			188,717			1,109			(921		)	188,905
Gain (loss) on mortgage loans held for sale	—			172,835			172,835			—			22			172,857
Total revenues	182,997			178,555			361,552			1,109			(899		)	361,762
Total expenses and impairments	132,886			76,454			209,340			17,609			—			226,949
Other income (expense):
Interest income	9,862			8,558			18,420			9,750			921			29,091
Interest expense	(45,223		)	(7,791		)	(53,014		)	(7,857		)	(22		)	(60,893		)
Gain (loss) on interest rate swaps and caps	188			—			188			(813		)	—			(625		)
Total other income (expense)	(35,173		)	767			(34,406		)	1,080			899			(32,427		)
Income before taxes	$	14,938		$	102,868		$	117,806		$	(15,420	)	$	—		$	102,386
Depreciation and amortization	$	2,098		$	903		$	3,001		$	384		$	—		$	3,385
Total assets	3,553,883			1,071,251			4,625,134			271,096			—			4,896,230

	Six months ended June 30, 2011
	Servicing			Originations			Operating Segments			Legacy Portfolio and Other			Eliminations			Consolidated
REVENUES:
Servicing fee income	$	110,585		$	—		$	110,585		$	737		$	(3,598	)	$	107,724
Other fee income	6,664			7,869			14,533			1,806			—			16,339
Total fee income	117,249			7,869			125,118			2,543			(3,598		)	124,063
Gain (loss) on mortgage loans held for sale	—			43,480			43,480			—			(152		)	43,328
Total revenues	117,249			51,349			168,598			2,543			(3,750		)	167,391
Total expenses and impairments	80,303			45,514			125,817			10,858			(152		)	136,523
Other income (expense):
Interest income	1,622			5,504			7,126			24,321			3,598			35,045
Interest expense	(26,948		)	(4,491		)	(31,439		)	(19,114		)	—			(50,553		)
Fair value changes - ABS securitizations	—			—			—			(6,265		)	—			(6,265		)
Total other income (expense)	(25,326		)	1,013			(24,313		)	(1,058		)	3,598			(21,773		)
Income before taxes	$	11,620		$	6,848		$	18,468		$	(9,373	)	$	—		$	9,095
Depreciation and amortization	$	768		$	567		$	1,335		$	225		$	—		$	1,560
Total assets	702,501			305,023			1,007,524			783,218			—			1,790,742

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Variable Interest Entities and Securitizations - Cash Flows from Securitization Trust (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Variable Interest Entities and Securitizations [Abstract]
Servicing Fees Received	$ 7,939	$ 7,621	$ 15,832	$ 15,359
Loan Repurchases	$ 0	$ 0	$ 0	$ 0

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Shareholders' Equity (Tables)

6 Months Ended

Jun. 30, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Restricted Stock Information

The following table summarizes information about our restricted stock as of June 30, 2012 under the 2012 Plan (restricted stock in thousands):

	Shares	Grant Date Fair Value	Remaining Contractual Term
Restricted Stock outstanding at March 31, 2012	1,277	$14.00	2.7
Granted	—
Forfeited	(18)
Restricted Stock outstanding at June 30, 2012	1,259
Restricted Stock unvested and expected to vest at June 30, 2012	1,259
Restricted Stock vested and payable at June 30, 2012	—

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Indebtedness - Unsecured Notes Maturity Schedule (Details) (Unsecured Senior Notes, USD $)	Jun. 30, 2012
Unsecured Senior Notes
Expected maturities of long-term debt
2013	$ 0
2014	0
2015	285,000,000
2016	0
2017	0
Thereafter	275,000,000
Total	$ 560,000,000

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Guarantor Financial Statement Information - Consolidating Statements of Cash Flow (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended		12 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Operating activities
Net income/(loss)	$ 86,461	$ 9,095	$ 20,887
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Gain/(loss) from subsidiaries	0	0
Share-based compensation	8,030	10,526
Gain on mortgage loans held for sale	(172,857)	(43,328)
Provision for loan losses	1,608	1,128
Loss on foreclosed real estate and other	3,755	4,346
Loss on equity method investments	594	521
(Gain) / loss on ineffectiveness on interest rate swaps and cap	625	(1,416)
Fair value changes in ABS securitizations	0	6,265
Fair value changes in excess spread financing	7,263	0
Depreciation and amortization	3,385	1,560
Change in fair value on mortgage servicing rights	20,380	11,722
Accretion of mortgage servicing liability	(624)	0
Amortization of debt discount	8,481	6,446
Amortization of premiums/(discounts)	(2,630)	(2,424)
Mortgage loans originated and purchased, net of fees	(2,996,372)	(1,378,039)
Cost of loans sold and principal payments and prepayments, and other changes in mortgage loans originated as held for sale, net of fees	2,724,370	1,515,612
Proceeds from Sale of Loans Held-for-sale		1,490,814
Proceeds from Collection of Mortgage Loans Held-for-sale		24,798
Changes in assets and liabilities:
Accounts receivable	(61,301)	(30,799)
Receivables from/(payables to) affiliates	871	1,642
Reverse funded advances due to securitization	(220,788)	0
Other assets	(81,893)	(470)
Payables and accrued liabilities	314,017	3,710
Net cash (used in)/provided by operating activities	(356,625)	116,097
Investing activities
Principal payments received and other changes on mortgage loans held for investment, subject to ABS nonrecourse debt	0	14,285
Property and equipment additions, net of disposals	(8,102)	(8,833)
Cash Proceeds from assumption of reverse mortgage servicing obligations, net	11,852	0
Acquisition of equity method investment	0	(6,600)
Deposit on / purchase of mortgage servicing rights, net of liabilities incurred	(1,979,836)	(232)
Repurchases of REO from Ginnie Mae	(4,464)	0
Proceeds from sales of REO	11,897	20,002
Net cash (used in) / provided by investing activities	(1,968,653)	18,622
Financing activities
Issuance of Senior Unsecured Notes	269,500	0
Transfers (to) / from restricted cash, net	(101,609)	6,794
Issuance of common stock, net of IPO issuance costs	249,550	0
Issuance of participating interest financing	182,577	0
Issuance of excess spread financing	187,438	0
Increase (decrease) in notes payable	1,539,185	(104,988)
Repayment of nonrecourse debt - Legacy assets	(7,231)	(14,693)
Repayment of ABS nonrecourse debt	0	(29,085)
Repayment of excess servicing spread financing	(5,507)	0
Distribution to subsidiaries	0
Contributions of parent	0
Distribution to parent	0	(3,900)
Debt financing costs	(35,178)	(2,729)
Tax related share-based settlement of units by members	0	(4,809)
Net cash provided by / (used in) financing activities	2,278,725	(153,410)
Net increase / (decrease) in cash and cash equivalents	(46,553)	(18,691)
Cash and cash equivalents at beginning of period	62,445	21,223	21,223
Cash and cash equivalents at end of period	15,892	2,532	62,445
Parent Company
Operating activities
Net income/(loss)	86,461
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Gain/(loss) from subsidiaries	(64,660)
Share-based compensation	0
Gain on mortgage loans held for sale	0
Provision for loan losses	0
Loss on foreclosed real estate and other	0
Loss on equity method investments	0
(Gain) / loss on ineffectiveness on interest rate swaps and cap	0
Fair value changes in excess spread financing	0
Depreciation and amortization	0
Change in fair value on mortgage servicing rights	0
Accretion of mortgage servicing liability	0
Amortization of debt discount	0
Amortization of premiums/(discounts)	0
Mortgage loans originated and purchased, net of fees	0
Cost of loans sold and principal payments and prepayments, and other changes in mortgage loans originated as held for sale, net of fees	0
Changes in assets and liabilities:
Accounts receivable	0
Receivables from/(payables to) affiliates	0
Reverse funded advances due to securitization	0
Other assets	(27,498)
Payables and accrued liabilities	2,847
Net cash (used in)/provided by operating activities	(2,850)
Investing activities
Property and equipment additions, net of disposals	0
Cash Proceeds from assumption of reverse mortgage servicing obligations, net	0
Deposit on / purchase of mortgage servicing rights, net of liabilities incurred	0
Repurchases of REO from Ginnie Mae	0
Proceeds from sales of REO	0
Net cash (used in) / provided by investing activities	0
Financing activities
Issuance of Senior Unsecured Notes	0
Transfers (to) / from restricted cash, net	0
Issuance of common stock, net of IPO issuance costs	249,550
Issuance of participating interest financing	0
Issuance of excess spread financing	0
Increase (decrease) in notes payable	0
Repayment of nonrecourse debt - Legacy assets	0
Repayment of excess servicing spread financing	0
Distribution to subsidiaries	(246,700)
Contributions of parent	0
Debt financing costs	0
Net cash provided by / (used in) financing activities	2,850
Net increase / (decrease) in cash and cash equivalents	0
Cash and cash equivalents at beginning of period	0
Cash and cash equivalents at end of period	0
Issuer
Operating activities
Net income/(loss)		8,978
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Gain/(loss) from subsidiaries		7,314
Share-based compensation		10,526
Gain on mortgage loans held for sale		(43,328)
Provision for loan losses		724
Loss on foreclosed real estate and other		202
Loss on equity method investments		521
(Gain) / loss on ineffectiveness on interest rate swaps and cap		0
Fair value changes in ABS securitizations		0
Depreciation and amortization		1,560
Change in fair value on mortgage servicing rights		11,722
Amortization of debt discount		4,389
Amortization of premiums/(discounts)		0
Mortgage loans originated and purchased, net of fees		(1,378,039)
Proceeds from Sale of Loans Held-for-sale		1,490,814
Proceeds from Collection of Mortgage Loans Held-for-sale		19,336
Changes in assets and liabilities:
Accounts receivable		(30,448)
Receivables from/(payables to) affiliates		(29,292)
Other assets		(470)
Payables and accrued liabilities		3,885
Net cash (used in)/provided by operating activities		78,394
Investing activities
Principal payments received and other changes on mortgage loans held for investment, subject to ABS nonrecourse debt		0
Property and equipment additions, net of disposals		(8,833)
Acquisition of equity method investment		(6,600)
Deposit on / purchase of mortgage servicing rights, net of liabilities incurred		(232)
Proceeds from sales of REO		313
Net cash (used in) / provided by investing activities		(15,352)
Financing activities
Transfers (to) / from restricted cash, net		8,754
Increase (decrease) in notes payable		(78,884)
Repayment of nonrecourse debt - Legacy assets		0
Repayment of ABS nonrecourse debt		0
Distribution to parent		(3,900)
Debt financing costs		(2,729)
Tax related share-based settlement of units by members		(4,809)
Net cash provided by / (used in) financing activities		(81,568)
Net increase / (decrease) in cash and cash equivalents		(18,526)
Cash and cash equivalents at beginning of period		20,904	20,904
Cash and cash equivalents at end of period		2,378	62,201
Issuer
Operating activities
Net income/(loss)	64,660
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Gain/(loss) from subsidiaries	1,334
Share-based compensation	8,030
Gain on mortgage loans held for sale	(172,857)
Provision for loan losses	0
Loss on foreclosed real estate and other	124
Loss on equity method investments	594
(Gain) / loss on ineffectiveness on interest rate swaps and cap	812
Fair value changes in excess spread financing	7,263
Depreciation and amortization	3,385
Change in fair value on mortgage servicing rights	20,380
Accretion of mortgage servicing liability	(624)
Amortization of debt discount	7,469
Amortization of premiums/(discounts)	(55)
Mortgage loans originated and purchased, net of fees	(2,996,372)
Cost of loans sold and principal payments and prepayments, and other changes in mortgage loans originated as held for sale, net of fees	2,723,337
Changes in assets and liabilities:
Accounts receivable	(340,581)
Receivables from/(payables to) affiliates	1,541,884
Reverse funded advances due to securitization	(220,788)
Other assets	(79,042)
Payables and accrued liabilities	337,788
Net cash (used in)/provided by operating activities	906,741
Investing activities
Property and equipment additions, net of disposals	(8,102)
Cash Proceeds from assumption of reverse mortgage servicing obligations, net	11,852
Deposit on / purchase of mortgage servicing rights, net of liabilities incurred	(1,979,836)
Repurchases of REO from Ginnie Mae	(4,464)
Proceeds from sales of REO	6,764
Net cash (used in) / provided by investing activities	(1,973,786)
Financing activities
Issuance of Senior Unsecured Notes	269,500
Transfers (to) / from restricted cash, net	(78,503)
Issuance of common stock, net of IPO issuance costs	0
Issuance of participating interest financing	182,577
Issuance of excess spread financing	187,438
Increase (decrease) in notes payable	253,391
Repayment of nonrecourse debt - Legacy assets	0
Repayment of excess servicing spread financing	(5,507)
Distribution to subsidiaries	0
Contributions of parent	246,700
Debt financing costs	(35,178)
Net cash provided by / (used in) financing activities	1,020,418
Net increase / (decrease) in cash and cash equivalents	(46,627)
Cash and cash equivalents at beginning of period	62,201
Cash and cash equivalents at end of period	15,574
Guarantor (Subsidiaries)
Operating activities
Net income/(loss)	7,443	3,518
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Gain/(loss) from subsidiaries	0	0
Share-based compensation	0	0
Gain on mortgage loans held for sale	0	0
Provision for loan losses	0	0
Loss on foreclosed real estate and other	0	0
Loss on equity method investments	0
(Gain) / loss on ineffectiveness on interest rate swaps and cap	0	0
Fair value changes in ABS securitizations		0
Fair value changes in excess spread financing	0
Depreciation and amortization	0	0
Change in fair value on mortgage servicing rights	0	0
Accretion of mortgage servicing liability	0
Amortization of debt discount	0	0
Amortization of premiums/(discounts)	0	0
Mortgage loans originated and purchased, net of fees	0	0
Cost of loans sold and principal payments and prepayments, and other changes in mortgage loans originated as held for sale, net of fees	0
Proceeds from Sale of Loans Held-for-sale		0
Proceeds from Collection of Mortgage Loans Held-for-sale		0
Changes in assets and liabilities:
Accounts receivable	(188)	0
Receivables from/(payables to) affiliates	(7,181)	(3,680)
Reverse funded advances due to securitization	0
Other assets	0	0
Payables and accrued liabilities	0	0
Net cash (used in)/provided by operating activities	74	(162)
Investing activities
Principal payments received and other changes on mortgage loans held for investment, subject to ABS nonrecourse debt		0
Property and equipment additions, net of disposals	0	0
Cash Proceeds from assumption of reverse mortgage servicing obligations, net	0
Acquisition of equity method investment		0
Deposit on / purchase of mortgage servicing rights, net of liabilities incurred	0	0
Repurchases of REO from Ginnie Mae	0
Proceeds from sales of REO	0	0
Net cash (used in) / provided by investing activities	0	0
Financing activities
Issuance of Senior Unsecured Notes	0
Transfers (to) / from restricted cash, net	0	(3)
Issuance of common stock, net of IPO issuance costs	0
Issuance of participating interest financing	0
Issuance of excess spread financing	0
Increase (decrease) in notes payable	0	0
Repayment of nonrecourse debt - Legacy assets	0	0
Repayment of ABS nonrecourse debt		0
Repayment of excess servicing spread financing	0
Distribution to subsidiaries	0
Contributions of parent	0
Distribution to parent		0
Debt financing costs	0	0
Tax related share-based settlement of units by members		0
Net cash provided by / (used in) financing activities	0	(3)
Net increase / (decrease) in cash and cash equivalents	74	(165)
Cash and cash equivalents at beginning of period	244	319	319
Cash and cash equivalents at end of period	318	154
Non-Guarantor (Subsidiaries)
Operating activities
Net income/(loss)	(8,777)	(10,832)
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Gain/(loss) from subsidiaries	0	0
Share-based compensation	0	0
Gain on mortgage loans held for sale	0	0
Provision for loan losses	1,608	404
Loss on foreclosed real estate and other	3,631	4,144
Loss on equity method investments	0
(Gain) / loss on ineffectiveness on interest rate swaps and cap	(187)	(1,416)
Fair value changes in ABS securitizations		6,382
Fair value changes in excess spread financing	0
Depreciation and amortization	0	0
Change in fair value on mortgage servicing rights	0	0
Accretion of mortgage servicing liability	0
Amortization of debt discount	1,012	2,057
Amortization of premiums/(discounts)	(2,575)	(2,424)
Mortgage loans originated and purchased, net of fees	0	0
Cost of loans sold and principal payments and prepayments, and other changes in mortgage loans originated as held for sale, net of fees	1,033
Proceeds from Sale of Loans Held-for-sale		0
Proceeds from Collection of Mortgage Loans Held-for-sale		5,462
Changes in assets and liabilities:
Accounts receivable	279,273	(351)
Receivables from/(payables to) affiliates	(1,533,832)	34,614
Reverse funded advances due to securitization	0
Other assets	0	0
Payables and accrued liabilities	(1,776)	(175)
Net cash (used in)/provided by operating activities	(1,260,590)	37,865
Investing activities
Principal payments received and other changes on mortgage loans held for investment, subject to ABS nonrecourse debt		14,285
Property and equipment additions, net of disposals	0	0
Cash Proceeds from assumption of reverse mortgage servicing obligations, net	0
Acquisition of equity method investment		0
Deposit on / purchase of mortgage servicing rights, net of liabilities incurred	0	0
Repurchases of REO from Ginnie Mae	0
Proceeds from sales of REO	5,133	19,689
Net cash (used in) / provided by investing activities	5,133	33,974
Financing activities
Issuance of Senior Unsecured Notes	0
Transfers (to) / from restricted cash, net	(23,106)	(1,957)
Issuance of common stock, net of IPO issuance costs	0
Issuance of participating interest financing	0
Issuance of excess spread financing	0
Increase (decrease) in notes payable	1,285,794	(26,104)
Repayment of nonrecourse debt - Legacy assets	(7,231)	(14,693)
Repayment of ABS nonrecourse debt		(29,085)
Repayment of excess servicing spread financing	0
Distribution to subsidiaries	0
Contributions of parent	0
Distribution to parent		0
Debt financing costs	0	0
Tax related share-based settlement of units by members		0
Net cash provided by / (used in) financing activities	1,255,457	(71,839)
Net increase / (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0	0
Cash and cash equivalents at end of period	0	0
Eliminations
Operating activities
Net income/(loss)	(63,326)	7,431
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Gain/(loss) from subsidiaries	63,326	(7,314)
Share-based compensation	0	0
Gain on mortgage loans held for sale	0	0
Provision for loan losses	0	0
Loss on foreclosed real estate and other	0	0
Loss on equity method investments	0
(Gain) / loss on ineffectiveness on interest rate swaps and cap	0	0
Fair value changes in ABS securitizations		(117)
Fair value changes in excess spread financing	0
Depreciation and amortization	0	0
Change in fair value on mortgage servicing rights	0	0
Accretion of mortgage servicing liability	0
Amortization of debt discount	0	0
Amortization of premiums/(discounts)	0	0
Mortgage loans originated and purchased, net of fees	0	0
Cost of loans sold and principal payments and prepayments, and other changes in mortgage loans originated as held for sale, net of fees	0
Proceeds from Sale of Loans Held-for-sale		0
Proceeds from Collection of Mortgage Loans Held-for-sale		0
Changes in assets and liabilities:
Accounts receivable	195	0
Receivables from/(payables to) affiliates	0	0
Reverse funded advances due to securitization	0
Other assets	24,647	0
Payables and accrued liabilities	(24,842)	0
Net cash (used in)/provided by operating activities	0	0
Investing activities
Principal payments received and other changes on mortgage loans held for investment, subject to ABS nonrecourse debt		0
Property and equipment additions, net of disposals	0	0
Cash Proceeds from assumption of reverse mortgage servicing obligations, net	0
Acquisition of equity method investment		0
Deposit on / purchase of mortgage servicing rights, net of liabilities incurred	0	0
Repurchases of REO from Ginnie Mae	0
Proceeds from sales of REO	0	0
Net cash (used in) / provided by investing activities	0	0
Financing activities
Issuance of Senior Unsecured Notes	0
Transfers (to) / from restricted cash, net	0	0
Issuance of common stock, net of IPO issuance costs	0
Issuance of participating interest financing	0
Issuance of excess spread financing	0
Increase (decrease) in notes payable	0	0
Repayment of nonrecourse debt - Legacy assets	0	0
Repayment of ABS nonrecourse debt		0
Repayment of excess servicing spread financing	0
Distribution to subsidiaries	246,700
Contributions of parent	(246,700)
Distribution to parent		0
Debt financing costs	0	0
Tax related share-based settlement of units by members		0
Net cash provided by / (used in) financing activities	0	0
Net increase / (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0	0
Cash and cash equivalents at end of period	$ 0	$ 0

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Payables and Accrued Liabilities (Tables)

6 Months Ended

Jun. 30, 2012

Payables and Accruals [Abstract]

Schedule of Payables and Accrued Liabilities

Payables and accrued liabilities consist of the following (in thousands):

	June 30, 2012		December 31, 2011
Payables to securitization trusts	$	10,250	$	10,665
Loans subject to repurchase from Ginnie Mae	46,130		35,735
Cancelled lease reserves	7,810		9,160
Legal and professional fees	9,345		5,931
MSR purchases payable	169,265		8,204
Accrued bonus and payroll	23,864		21,236
Accrued interest	18,715		10,225
Mortgage insurance premiums and reserves	58,604		19,162
Government sponsored entities	43,499		18,728
Repurchase reserves	12,424		10,026
Deposit from MSR co-investor for ResCap	25,200		—
Reverse mortgage payables	95,823		—
Originations closed not funded	51,626		—
Taxes	12,790		154
Other	54,494		34,563
Total payables and accrued liabilities	$	639,839	$	183,789

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Accounts Receivable (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Receivables [Abstract]
Delinquent interest advances	$ 1,286,525	$ 213,737
Corporate and escrow advances	1,028,722	299,946
Insurance deposits	1,750	1,750
Accrued interest	3,449	1,512
Receivables from trusts	16,920	4,664
Accrued servicing fees	95,632	20,865
Other	54,993	19,826
Total accounts receivable	$ 2,487,991	$ 562,300

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Other Assets - Equity Method Investment (Details) (USD $) In Thousands, unless otherwise specified	1 Months Ended		3 Months Ended		6 Months Ended
	Mar. 31, 2012	Mar. 31, 2011	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Schedule of Equity Method Investments [Line Items]
Percentage interest in equity investment acquired	13.00%
Percentage interest in equity investment	35.00%
OTHER INCOME/(EXPENSE)
Loss on equity method investments			$ 500	$ 500	$ 594	$ 521
ANC Acquisition LLC
Schedule of Equity Method Investments [Line Items]
Percentage interest in equity investment acquired	13.00%	22.00%
Percentage interest in equity investment	35.00%
Initial investment in equity investment		6,600
ASSETS
Cash			3,100		3,100		2,486
Accounts receivable			2,675		2,675		5,296
Receivables from affiliates			257		257		92
Equity method investments			2,881		2,881		2,788
Property and equipment, net			2,044		2,044		1,995
Goodwill and other intangible assets			33,796		33,796		33,876
Other assets			488		488		590
Total assets			45,241		45,241		47,123
LIABILITIES
Notes payable			4,724		4,724		4,724
Payables and accrued liabilities			13,882		13,882		13,236
Total liabilities			18,606		18,606		17,960
REVENUES
Sales			13,083	12,201	28,379	12,201
Cost of sales			(10,080)	(10,722)	(21,431)	(10,722)
Net sales revenues			3,003	1,479	6,948	1,479
OTHER INCOME/(EXPENSE)
Operating costs			(4,559)	(3,951)	(9,062)	(3,951)
Income from equity method investments			552	405	1,255	405
Depreciation and amortization			(373)	(219)	(761)	(219)
Other income/(expense)			(39)	(53)	(69)	(53)
Loss from discontinued operations			(12)	(27)	(35)	(27)
Total other income/(expense)			(4,431)	(3,845)	(8,672)	(3,845)
Net loss			$ (1,428)	$ (2,366)	$ (1,724)	$ (2,366)

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Mortgage Servicing Rights - MSR's at Fair Value (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value at the end of the period	$ 596,462	$ 251,050
Mortgage Servicing Rights
Servicing Asset at Fair Value, Amount [Roll Forward]
Fair value at the beginning of the period	251,050	145,062
Servicing resulting from transfers of financial assets	24,128	36,474
Recognition of servicing assets from derecognition of variable interest entities	0	5,714
Purchases of servicing assets	341,664	102,800
Changes in fair value due to changes in valuation inputs or assumptions used in the valuation model	(1,686)	(14,207)
Other changes in fair value	(18,694)	(24,793)
Fair value at the end of the period	596,462	251,050
Principal Amount Outstanding of Loans Held-in-portfolio [Abstract]
Principal amount outstanding on loans managed and securitized	117,114,806	44,253,454
Mortgage Servicing Rights | Credit Sensitive
Principal Amount Outstanding of Loans Held-in-portfolio [Abstract]
Principal amount outstanding on loans managed and securitized	102,335,034	32,408,623
Mortgage Servicing Rights | Interest Rate Sensitive
Principal Amount Outstanding of Loans Held-in-portfolio [Abstract]
Principal amount outstanding on loans managed and securitized	$ 14,779,772	$ 11,844,831
Minimum
Servicing Assets at Fair Value [Line Items]
Servicing fee, percentage of unpaid principal balance	0.25%
Maximum
Servicing Assets at Fair Value [Line Items]
Servicing fee, percentage of unpaid principal balance	0.50%

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Nature of Business, Basis of Presentation and Material Transaction - Material Transaction (Details) (USD $)	1 Months Ended	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Mortgaging Servicing Rights
Payments to Acquire Mortgage Servicing Rights (MSR)		$ 1,979,836,000	$ 232,000
Mortgage servicing rights - fair value	596,462,000	596,462,000		251,050,000
Accounts Receivable, Net	2,487,991,000	2,487,991,000		562,300,000
Issuance of notes payable	1,300,000,000
Issuance of excess spread financing	176,500,000	187,438,000	0
Aurora
Mortgaging Servicing Rights
Payments to Acquire Mortgage Servicing Rights (MSR)	2,000,000,000
Mortgage servicing rights - fair value	271,500,000	271,500,000
Accounts Receivable, Net	1,700,000,000	1,700,000,000
Residential Mortgage | Aurora
Mortgaging Servicing Rights
Number of loans covered by mortgage servicing agreement	300,000
Principal amount outstanding on loans managed and securitized	63,000,000,000	63,000,000,000
Residential Mortgage | June 2012
Mortgaging Servicing Rights
Principal amount outstanding on loans managed and securitized	6,200,000,000	6,200,000,000
Residential Mortgage | July 2012
Mortgaging Servicing Rights
Principal amount outstanding on loans managed and securitized	$ 57,000,000,000	$ 57,000,000,000

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Variable Interest Entities and Securitizations

6 Months Ended

Jun. 30, 2012

Variable Interest Entities and Securitizations [Abstract]

Variable Interest Entities and Securitizations

Variable Interest Entities and Securitizations

Nationstar has been the transferor in connection with a number of securitizations or asset-backed financing arrangements, from which Nationstar has continuing involvement with the underlying transferred financial assets. Nationstar aggregates these securitizations or asset-backed financing arrangements into two groups: 1) securitizations of residential mortgage loans and 2) transfers accounted for as secured borrowings.

On securitizations of residential mortgage loans, Nationstar’s continuing involvement typically includes acting as servicer for the mortgage loans held by the trust and holding beneficial interests in the trust. Nationstar’s responsibilities as servicer include, among other things, collecting monthly payments, maintaining escrow accounts, providing periodic reports and managing insurance in exchange for a contractually specified servicing fee. The beneficial interests held consist of both subordinate and residual securities that were retained at the time of the securitization and any mortgage servicing rights subsequently retained in the securitization.

Nationstar also maintains various agreements with special purpose entities (SPEs), under which Nationstar transfers mortgage loans and/or advances on residential mortgage loans in exchange for cash. These SPEs issue debt supported by collections on the transferred mortgage loans and/or advances. These transfers do not qualify for sale treatment because Nationstar continues to retain control over the transferred assets. As a result, Nationstar accounts for these transfers as financings and continues to carry the transferred assets and recognizes the related liabilities on Nationstar’s consolidated balance sheets. Collections on the mortgage loans and/or advances pledged to the SPEs are used to repay principal and interest and to pay the expenses of the entity. The holders of these beneficial interests issued by these SPEs do not have recourse to Nationstar and can only look to the assets of the SPEs themselves for satisfaction of the debt.

A Variable Interest Entity (VIE) is an entity that has either a total equity investment that is insufficient to permit the entity to finance its activities without additional subordinated financial support or whose equity investors lack the characteristics of a controlling financial interest. A VIE is consolidated by its primary beneficiary, which is the entity that, through its variable interests has both the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE.

Current accounting guidance requires that all existing SPEs be evaluated for consolidation. Nationstar identified certain securitization trusts where Nationstar, through its affiliates, continued to hold beneficial interests in these trusts. These retained beneficial interests obligate Nationstar to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant. In addition, Nationstar as master servicer on the related mortgage loans, retains the power to direct the activities of the VIE that most significantly impact the economic performance of the VIE. When it is determined that Nationstar has both the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE, the assets and liabilities of these VIEs are included in Nationstar’s consolidated financial statements. Upon consolidation of these VIEs, Nationstar derecognized all previously recognized beneficial interests obtained as part of the securitization, including any retained investment in debt securities, mortgage servicing rights, and any remaining residual interests. In addition, Nationstar recognized the securitized mortgage loans as mortgage loans held for investment, subject to ABS nonrecourse debt, and the related asset-backed certificates (ABS nonrecourse debt) acquired by third parties as ABS nonrecourse debt on Nationstar’s consolidated balance sheet.

As a result of market conditions and deteriorating credit performance on these consolidated VIEs, Nationstar expects minimal to no future cash flows on the economic residual. Under existing GAAP, Nationstar would be required to provide for additional allowances for loan losses on the securitization collateral as credit performance deteriorated, with no offsetting reduction in the securitization’s debt balances, even though any nonperformance of the assets will ultimately pass through as a reduction of amounts owed to the debt holders once they are extinguished. Therefore, Nationstar would be required to record accounting losses beyond its economic exposure.

To more accurately represent the future economic performance of the securitization collateral and related debt balances, Nationstar elected the fair value option provided for by Accounting Standards Codification (ASC) ASC 825-10, Financial Instruments-Overall. This option was applied to all eligible items within the VIE, including mortgage loans held for investment, subject to ABS nonrecourse debt, and the related ABS nonrecourse debt.

Subsequent to this fair value election, Nationstar no longer records an allowance for loan loss on mortgage loans held for investment, subject to ABS nonrecourse debt. Nationstar continues to record interest income in Nationstar’s consolidated statement of operations on these fair value elected loans until they are placed on a nonaccrual status when they are 90 days or more past due. The fair value adjustment recorded for the mortgage loans held for investment is classified within fair value changes of ABS securitizations in Nationstar’s consolidated statement of operations.

Subsequent to the fair value election for ABS nonrecourse debt, Nationstar continues to record interest expense in Nationstar’s consolidated statement of operations on the fair value elected ABS nonrecourse debt. The fair value adjustment recorded for the ABS nonrecourse debt is classified within fair value changes of ABS securitizations in Nationstar’s consolidated statement of operations.

Under the existing pooling and servicing agreements of these securitization trusts, the principal and interest cash flows on the underlying securitized loans are used to service the asset-backed certificates. Accordingly, the timing of the principal payments on this nonrecourse debt is dependent on the payments received on the underlying mortgage loans and liquidation of real estate owned.

Nationstar consolidates the SPEs created for the purpose of issuing debt supported by collections on loans and advances that have been transferred to it as VIEs, and Nationstar is the primary beneficiary of these VIEs. The Company consolidates the assets and liabilities of the VIEs onto its consolidated financial statements.

In December 2011, Nationstar sold its remaining variable interest in a securitization trust that had been a consolidated VIE since January 1, 2010 and deconsolidated the VIE. In accordance with ASC 810 Nationstar has evaluated this securitization trust and determined that Nationstar no longer has both the power to direct the activities that most significantly impact the VIE’s economic performance and the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE, and this securitization trust was derecognized as of December 31, 2011. Upon deconsolidation of this VIE, Nationstar derecognized the securitized mortgage loans held for investment, subject to ABS nonrecourse debt, the related ABS nonrecourse debt, as well as certain other assets and liabilities of the securitization trust, and recognized any MSRs on the consolidated balance sheet. The impact of this derecognition on the Company’s consolidated statement of operations was recognized in the fourth quarter of 2011 in the fair value changes in ABS securitizations line item.

A summary of the assets and liabilities of Nationstar’s transactions with VIEs included in the Company’s consolidated financial statements as of June 30, 2012 and December 31, 2011 is presented in the following tables (in thousands):

	June 30, 2012		December 31, 2011
	Transfers Accounted for as Secured Borrowings		Transfers Accounted for as Secured Borrowings
ASSETS
Restricted cash	$	47,464	$	22,316
Accounts receivable	1,883,312		279,414
Mortgage loans held for investment, subject to nonrecourse debt	229,797		237,496
REO	2,537		3,668
Total Assets	$	2,163,110	$	542,894
LIABILITIES
Notes payable	$	1,528,791	$	244,574
Payables and accrued liabilities	1,469		977
Derivative financial instruments	6,776		—
Nonrecourse debt–Legacy Assets	106,271		112,490
Total Liabilities	$	1,643,307	$	358,041

A summary of the outstanding collateral and certificate balances for securitization trusts, including any retained beneficial interests and MSRs, that were not consolidated by Nationstar for the periods indicated are as follows (in thousands):

	June 30, 2012		December 31, 2011
Total collateral balances	$	4,335,667	$	4,579,142
Total certificate balances	4,338,552		4,582,598
Total mortgage servicing rights at fair value	28,182		28,635

Nationstar has not retained any variable interests in the unconsolidated securitization trusts that were outstanding as of June 30, 2012 or December 31, 2011, and therefore does not have a significant maximum exposure to loss related to these unconsolidated VIEs. A summary of mortgage loans transferred to unconsolidated securitization trusts that are 60 days or more past due and the credit losses incurred in the unconsolidated securitization trusts are presented below (in thousands):

	As of or for the six months ended,
	June 30, 2012				June 30, 2011
	Principal Amount of Loans 60 Days or More Past Due		Credit Losses		Principal Amount of Loans 60 Days or More Past Due		Credit Losses
Total securitization trusts	$	891,261	$	154,425	$	751,431	$	120,290

Certain cash flows received from securitization trusts accounted for as sales for the dates indicated were as follows (in thousands):

	For the three months ended								For the six months ended
	June 30, 2012				June 30, 2011				June 30, 2012				June 30, 2011
	Servicing Fees Received		Loan Repurchases		Servicing Fees Received		Loan Repurchases		Servicing Fees Received		Loan Repurchases		Servicing Fees Received		Loan Repurchases
Total securitization trusts	$	7,939	$	—	$	7,621	$	—	$	15,832	$	—	$	15,359	$	—

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Mortgage Servicing Rights - Fair Value Sensitivity Analysis (Details) (Mortgage Servicing Rights, USD $) In Thousands, unless otherwise specified	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Total Prepayment Speeds, 10% Adverse Change	$ (68,006)	$ (13,281)
Total Prepayment Speeds, 20% Adverse Change	(137,411)	(25,215)
Credit Losses, 10% Adverse Change	(51,448)	(5,081)
Credit Losses, 20% Adverse Change	(107,296)	(10,944)
100 Basis Points
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Percentage change of discount rate	1.00%	1.00%
Discount Rate, Adverse Change	(18,914)	(6,640)
200 Basis Points
Sensitivity Analysis of Fair Value of Interests Continued to be Held by Transferor, Servicing Assets or Liabilities, Impact of Adverse Change in Assumption [Line Items]
Percentage change of discount rate	2.00%	2.00%
Discount Rate, Adverse Change	$ (36,648)	$ (12,929)

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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies Disclosure [Abstract]

Minimum Annual Rental Commitments

Minimum annual rental commitments for office leases with unrelated parties and with initial or remaining terms of one year or more, net of sublease payments, are presented below (in thousands).

Year	Amount
2012	$	6,103
2013	16,397
2014	14,212
2015	11,845
2016	8,450
Thereafter	12,113
Total	$	69,120

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Definitive Agreement to Acquire Certain Mortgage Servicing Assets of Residential Capital, LLC

6 Months Ended

Jun. 30, 2012

Asset Acquisition [Abstract]

Definitive Agreement to Acquire Certain Mortgage Servicing Assets of Residential Capital, LLC

Definitive Agreement to Acquire Certain Mortgage Servicing Assets of Residential Capital, LLC

On May 13, 2012, Nationstar signed a definitive agreement (the “Agreement”) which was subsequently amended on June 28, 2012 to acquire certain residential mortgage servicing assets and other assets (collectively, “Mortgage Servicing Assets”) from Residential Capital, LLC and related entities (collectively, “ResCap”) in connection with ResCap’s proceedings before the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy court”).

Nationstar expects the acquired Mortgage Servicing Assets to total approximately $371 billion, including $196 billion in primary residential MSRs and $174 billion in subservicing contracts, as measured by unpaid principal balances as of March 31, 2012, approximately $1.8 billion of related servicing advance receivables and certain other assets. The sale of the Mortgage Servicing Assets is expected to close by the first quarter of 2013, subject to certain conditions and auction described below.

The aggregate purchase price for the Mortgage Servicing Assets under the Agreement is approximately $2.4 billion. Nationstar expects to fund such purchase price through a combination of cash, the proceeds of a co-investment with Newcastle of up to $450 million, proceeds of advance financing facilities and the issuance of debt or equity.

Although Nationstar has been approved as the stalking-horse bidder by the Bankruptcy Court, other bidders may submit bids for the assets the Company is seeking to acquire. The auction for the mortgage servicing asset is scheduled to commence on October 23, 2012. If any such bidders submit bids, Nationstar can provide no assurances that it will be the winning bidder and ultimately permitted to purchase the assets Nationstar is seeking to acquire or that it will not be required to make changes, which changes could be material, to the terms of the Agreement in order to purchase the assets. If the Agreement is terminated as a result of the Bankruptcy Court's approval of a competing bidder, ResCap will be required to pay Nationstar a $24 million break-up fee in cash (a portion of which will be payable to Newcastle).

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Related Party Disclosures

6 Months Ended

Jun. 30, 2012

Related Party Transactions [Abstract]

Related Party Disclosure

Related Party Disclosure

In March 2011, Nationstar entered into a limited partnership agreement with ANC. ANC is the parent company of NREIS, which through the ANC partnership Nationstar holds a non-controlling interest in NREIS, an ancillary real estate services and vendor management company that directly and indirectly provides title agency settlement or valuation services for loan originations and default management. As Nationstar is able to exercise significant influence, but not control, over the policies and procedures of the entity, and Nationstar owns less than 50% of the voting interests, Nationstar applies the equity method of accounting. In March 2012 as part of the initial public offering restructuring, Nationstar assumed FIF’s 13% ownership in NREIS, increasing the total Nationstar investment to 35%. For the three months ended June 30,2012 and the year ending December 31, 2011, Nationstar disbursed $3.1 million and $4.9 million, respectively, for servicing-related advances. For the six months ended June 30,2012 and the year ending December 31, 2011, Nationstar disbursed $7.8 million and $4.9 million, respectively, for servicing-related advances. Additionally, during May 2012, Nationstar advanced NREIS $2.0 million for future services. The amount is recorded in accounts receivable other in these financial statements.

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Definitive Agreement to Acquire Certain Mortgage Servicing Assets of Residential Capital, LLC (Details) (USD $)	1 Months Ended	6 Months Ended					3 Months Ended
	Jun. 30, 2012	Jun. 30, 2012	Jun. 30, 2011	Mar. 31, 2013 Scenario, Forecast Residential Capital, LLC	Mar. 31, 2013 Scenario, Forecast Residential Mortgage Residential Capital, LLC	Mar. 31, 2013 Scenario, Forecast Loan Subservicing Agreement Residential Capital, LLC	Mar. 31, 2013 Maximum Scenario, Forecast Residential Capital, LLC	Mar. 31, 2013 Termination Fee [Member] Scenario, Forecast Residential Capital, LLC
Mortgage Servicing Rights [Line Items]
Principal amount outstanding on loans managed and securitized				$ 371,000,000,000	$ 196,000,000,000	$ 174,000,000,000
Servicing advance receivables and certain other assets				1,800,000,000
Purchase price of mortgage servicing rights				2,400,000,000
Issuance of excess spread financing	176,500,000	187,438,000	0				450,000,000
Termination fee, amount								$ 24,000,000

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Mortgage Loans Held for Sale and Investment - Accretable Yield (Details) (Mortgage Loans Held for Investment, USD $) In Thousands, unless otherwise specified	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2012	Dec. 31, 2011
Mortgage Loans Held for Investment
Accretable Yield Movement Schedule [Roll Forward]
Balance at the beginning of the period		$ 22,392	$ 25,219
Additions		0	0
Accretion		(1,886)	(4,131)
Reclassifications from (to) nonaccretable discount	500	1,687	1,304
Disposals		0	0
Balance at the end of the period	$ 22,193	$ 22,193	$ 22,392

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Business Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2012

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following tables are a presentation of financial information by segment for the periods indicated (in thousands):

	Three months ended June 30, 2012
	Servicing			Originations			Operating Segments			Legacy Portfolio and Other			Eliminations			Consolidated
REVENUES:
Servicing fee income	$	85,926		$	—		$	85,926		$	620		$	(454	)	$	86,092
Other fee income	5,969			5,739			11,708			(98		)				11,610
Total fee income	91,895			5,739			97,634			522			(454		)	97,702
Gain/(loss) on mortgage loans held for sale	—			102,335			102,335			—			10			102,345
Total revenues	91,895			108,074			199,969			522			(444		)	200,047
Total expenses and impairments	73,656			47,980			121,636			8,726			10			130,372
Other income (expense):
Interest income	5,237			5,017			10,254			4,942			454			15,650
Interest expense	(28,295		)	(4,014		)	(32,309		)	(3,604		)	—			(35,913		)
Gain (loss) on interest rate swaps and caps	150			—			150			(507		)	—			(357		)
Total other income (expense)	(22,908		)	1,003			(21,905		)	831			454			(20,620		)
Income (loss) before taxes	$	(4,669	)	$	61,097		$	56,428		$	(7,373	)	$	—		$	49,055
Depreciation and amortization	$	1,238		$	520		$	1,758		$	96		$	—		$	1,854
Total assets	3,553,883			1,071,251			4,625,134			271,096			—			4,896,230

	Three months ended June 30, 2011
	Servicing			Originations			Operating Segments			Legacy Portfolio and Other			Eliminations				Consolidated
REVENUES:
Servicing fee income	$	52,665		$	—		$	52,665		$	345		$	(1,774	)		$	51,236
Other fee income	3,466			3,825			7,291			850			—				8,141
Total fee income	56,131			3,825			59,956			1,195			(1,774		)		59,377
Gain/(loss) on mortgage loans held for sale	—			22,911			22,911			—			(89		)		22,822
Total revenues	56,131			26,736			82,867			1,195			(1,863		)		82,199
Total expenses and impairments	39,896			23,702			63,598			4,893			(89		)		68,402
Other income (expense):
Interest income	655			2,901			3,556			11,397			1,774				16,727
Interest expense	(13,491		)	(2,510		)	(16,001		)	(9,184		)	—				(25,185		)
Fair value changes ABS securitizations	—			—			—			(3,613		)	—				(3,613		)
Total other income (expense)	(12,836		)	391			(12,445		)	(1,400		)	1,774				(12,071		)
Income before taxes	$	3,399		$	3,425		$	6,824		$	(5,098	)	$	—		18	$	1,726
Depreciation and amortization	$	396		$	298		$	694		$	114		$	—			$	808
Total assets	702,501			305,023			1,007,524			783,218			—				1,790,742

	Six months ended June 30, 2012
	Servicing			Originations			Operating Segments			Legacy Portfolio and Other			Eliminations			Consolidated
REVENUES:
Servicing fee income	$	169,726		$	—		$	169,726		$	1,237		$	(921	)	$	170,042
Other fee income	13,271			5,720			18,991			(128		)				18,863
Total fee income	182,997			5,720			188,717			1,109			(921		)	188,905
Gain (loss) on mortgage loans held for sale	—			172,835			172,835			—			22			172,857
Total revenues	182,997			178,555			361,552			1,109			(899		)	361,762
Total expenses and impairments	132,886			76,454			209,340			17,609			—			226,949
Other income (expense):
Interest income	9,862			8,558			18,420			9,750			921			29,091
Interest expense	(45,223		)	(7,791		)	(53,014		)	(7,857		)	(22		)	(60,893		)
Gain (loss) on interest rate swaps and caps	188			—			188			(813		)	—			(625		)
Total other income (expense)	(35,173		)	767			(34,406		)	1,080			899			(32,427		)
Income before taxes	$	14,938		$	102,868		$	117,806		$	(15,420	)	$	—		$	102,386
Depreciation and amortization	$	2,098		$	903		$	3,001		$	384		$	—		$	3,385
Total assets	3,553,883			1,071,251			4,625,134			271,096			—			4,896,230

	Six months ended June 30, 2011
	Servicing			Originations			Operating Segments			Legacy Portfolio and Other			Eliminations			Consolidated
REVENUES:
Servicing fee income	$	110,585		$	—		$	110,585		$	737		$	(3,598	)	$	107,724
Other fee income	6,664			7,869			14,533			1,806			—			16,339
Total fee income	117,249			7,869			125,118			2,543			(3,598		)	124,063
Gain (loss) on mortgage loans held for sale	—			43,480			43,480			—			(152		)	43,328
Total revenues	117,249			51,349			168,598			2,543			(3,750		)	167,391
Total expenses and impairments	80,303			45,514			125,817			10,858			(152		)	136,523
Other income (expense):
Interest income	1,622			5,504			7,126			24,321			3,598			35,045
Interest expense	(26,948		)	(4,491		)	(31,439		)	(19,114		)	—			(50,553		)
Fair value changes - ABS securitizations	—			—			—			(6,265		)	—			(6,265		)
Total other income (expense)	(25,326		)	1,013			(24,313		)	(1,058		)	3,598			(21,773		)
Income before taxes	$	11,620		$	6,848		$	18,468		$	(9,373	)	$	—		$	9,095
Depreciation and amortization	$	768		$	567		$	1,335		$	225		$	—		$	1,560
Total assets	702,501			305,023			1,007,524			783,218			—			1,790,742

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Subsequent Events

6 Months Ended

Jun. 30, 2012

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On July 19, 2012, Nationstar offered $100 million aggregate principal amount of 9.625% Senior Notes due 2019, in a private placement transaction. The notes were issued with an issue premium of $5.5 million for net cash proceeds of $104.0 million. The notes are a further issuance of the $275 million aggregate principal amount of 9.625% Senior Notes due 2019, issued in April 2012 (the "Existing Notes") and are guaranteed on an unsecured basis by each of Nationstar's current and future domestic subsidiaries, other than its securitization and certain finance subsidiaries and subsidiaries that in the future can be designated as excluded restricted and unrestricted subsidiaries. The notes are a further issuance of the Existing Notes and form a single series of debt securities with the Existing Notes.

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Nature of Business, Basis of Presentation and Material Transaction (Policies)

6 Months Ended

Jun. 30, 2012

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Consolidation, Policy

The consolidated financial statements include the accounts of Nationstar Inc. and its wholly-owned subsidiaries and those variable interest entities (VIEs) where Nationstar Inc.'s wholly-owned subsidiaries are the primary beneficiaries. Nationstar Inc. applies the equity method of accounting to investments when the entity is not a VIE and Nationstar Inc. is able to exercise significant influence, but not control, over the policies and procedures of the entity but owns less than 50% of the voting interests. Intercompany balances and transactions have been eliminated. Results of operations, assets and liabilities of VIEs are included from the date that Nationstar Inc. became the primary beneficiary through the date Nationstar Inc. ceases to be the primary beneficiary.

Basis of Accounting, Policy

The interim consolidated financial statements are unaudited; however, in the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the results of the interim periods have been included. The consolidated interim financial statements of Nationstar Inc. have been prepared in accordance with generally accepted accounting principles (GAAP) for interim information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (SEC). Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in Nationstar Mortgage LLC's Annual Report on Form 10-K filed on March 15, 2012.

New Accounting Pronouncements, Policy

Accounting Standards Update No. 2011-03, Reconsideration of Effective Control for Repurchase Agreements (Update No. 2011-03). Update No. 2011-03 is intended to improve the accounting and reporting of repurchase agreements and other agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity. This amendment removes the criterion pertaining to an exchange of collateral such that it should not be a determining factor in assessing effective control, including (i) the criterion requiring the transferor to have the ability to repurchase or redeem the financial assets on substantially the agreed terms, even in the event of default by the transferee, and (ii) the collateral maintenance implementation guidance related to that criterion. Other criteria applicable to the assessment of effective control are not changed by the amendments in the update. The amendments in this update were effective for interim and annual periods beginning after December 15, 2011. The adoption of Update No. 2011-03 did not have a material impact on the Company’s financial condition, liquidity or results of operations.

Accounting Standards Update No. 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS (Update No. 2011-04). Update No. 2011-04 is intended to provide common fair value measurement and disclosure requirements in GAAP and International Financial Reporting Standards (IFRS). The changes required in this update include changing the wording used to describe many of the requirements in GAAP for measuring fair value and for disclosing information about fair value measurements. The amendments in this update are to be applied prospectively and were effective for interim and annual periods beginning after December 15, 2011. Upon adoption, certain disclosure requirements were added to the Fair Value Measurements footnote. The adoption of Update No. 2011-04 did not have a material impact on the Company’s financial condition, liquidity or results of operations.

Accounting Standards Update No. 2011-05, Presentation of Comprehensive Income (Update No. 2011-05). Update No. 2011-05 is intended to improve the comparability, consistency, and transparency of financial reporting and to increase the prominence of items reported in other comprehensive income. Update No. 2011-05 eliminates the option to present components of other comprehensive income as part of the statement of changes in stockholders’ equity and now requires that all non-owner changes in shareholders’ equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. This update does not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income. The amendments in this update are to be applied retrospectively and were effective for interim and annual periods beginning after December 15, 2011. The adoption of Update No. 2011-05 did not have a material impact on the Company’s financial statements.

Accounting Standards Update No. 2011-12, Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No 2011-05 (Update No. 2011-12). Update 2011-12 is intended to temporarily defer the effective date of the requirement to present separate line items on the income statement for reclassification adjustments of items out of accumulated other comprehensive income into net income as required by Update No. 2011-05. All other requirements in Update 2011-05 are not affected by this update. This update does not change the requirement to present reclassifications adjustments within other comprehensive income either on the face of the statement that reports other comprehensive income or in the notes to the financial statements (Update 2011-05). The amendments in this update were effective for interim and annual periods beginning after December 15, 2011. The adoption of Update No. 2011-12 did not have a material impact on the Company's financial statements.

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Recent Accounting Developments

6 Months Ended

Jun. 30, 2012

Accounting Changes and Error Corrections [Abstract]

Recent Accounting Developments

Recent Accounting Developments

Accounting Standards Update No. 2011-03, Reconsideration of Effective Control for Repurchase Agreements (Update No. 2011-03). Update No. 2011-03 is intended to improve the accounting and reporting of repurchase agreements and other agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity. This amendment removes the criterion pertaining to an exchange of collateral such that it should not be a determining factor in assessing effective control, including (i) the criterion requiring the transferor to have the ability to repurchase or redeem the financial assets on substantially the agreed terms, even in the event of default by the transferee, and (ii) the collateral maintenance implementation guidance related to that criterion. Other criteria applicable to the assessment of effective control are not changed by the amendments in the update. The amendments in this update were effective for interim and annual periods beginning after December 15, 2011. The adoption of Update No. 2011-03 did not have a material impact on the Company’s financial condition, liquidity or results of operations.

Accounting Standards Update No. 2011-04, Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS (Update No. 2011-04). Update No. 2011-04 is intended to provide common fair value measurement and disclosure requirements in GAAP and International Financial Reporting Standards (IFRS). The changes required in this update include changing the wording used to describe many of the requirements in GAAP for measuring fair value and for disclosing information about fair value measurements. The amendments in this update are to be applied prospectively and were effective for interim and annual periods beginning after December 15, 2011. Upon adoption, certain disclosure requirements were added to the Fair Value Measurements footnote. The adoption of Update No. 2011-04 did not have a material impact on the Company’s financial condition, liquidity or results of operations.

Accounting Standards Update No. 2011-05, Presentation of Comprehensive Income (Update No. 2011-05). Update No. 2011-05 is intended to improve the comparability, consistency, and transparency of financial reporting and to increase the prominence of items reported in other comprehensive income. Update No. 2011-05 eliminates the option to present components of other comprehensive income as part of the statement of changes in stockholders’ equity and now requires that all non-owner changes in shareholders’ equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. This update does not change the items that must be reported in other comprehensive income or when an item of other comprehensive income must be reclassified to net income. The amendments in this update are to be applied retrospectively and were effective for interim and annual periods beginning after December 15, 2011. The adoption of Update No. 2011-05 did not have a material impact on the Company’s financial statements.

Accounting Standards Update No. 2011-12, Deferral of the Effective Date for Amendments to the Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in Accounting Standards Update No 2011-05 (Update No. 2011-12). Update 2011-12 is intended to temporarily defer the effective date of the requirement to present separate line items on the income statement for reclassification adjustments of items out of accumulated other comprehensive income into net income as required by Update No. 2011-05. All other requirements in Update 2011-05 are not affected by this update. This update does not change the requirement to present reclassifications adjustments within other comprehensive income either on the face of the statement that reports other comprehensive income or in the notes to the financial statements (Update 2011-05). The amendments in this update were effective for interim and annual periods beginning after December 15, 2011. The adoption of Update No. 2011-12 did not have a material impact on the Company's financial statements.

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Variable Interest Entities and Securitizations (Tables)

6 Months Ended

Jun. 30, 2012

Variable Interest Entities and Securitizations [Abstract]

Schedule of Assets and Liabilities of VIEs Included in Financial Statements

A summary of the assets and liabilities of Nationstar’s transactions with VIEs included in the Company’s consolidated financial statements as of June 30, 2012 and December 31, 2011 is presented in the following tables (in thousands):

	June 30, 2012		December 31, 2011
	Transfers Accounted for as Secured Borrowings		Transfers Accounted for as Secured Borrowings
ASSETS
Restricted cash	$	47,464	$	22,316
Accounts receivable	1,883,312		279,414
Mortgage loans held for investment, subject to nonrecourse debt	229,797		237,496
REO	2,537		3,668
Total Assets	$	2,163,110	$	542,894
LIABILITIES
Notes payable	$	1,528,791	$	244,574
Payables and accrued liabilities	1,469		977
Derivative financial instruments	6,776		—
Nonrecourse debt–Legacy Assets	106,271		112,490
Total Liabilities	$	1,643,307	$	358,041

Unconsolidated Securitization Trusts

A summary of mortgage loans transferred to unconsolidated securitization trusts that are 60 days or more past due and the credit losses incurred in the unconsolidated securitization trusts are presented below (in thousands):

	As of or for the six months ended,
	June 30, 2012				June 30, 2011
	Principal Amount of Loans 60 Days or More Past Due		Credit Losses		Principal Amount of Loans 60 Days or More Past Due		Credit Losses
Total securitization trusts	$	891,261	$	154,425	$	751,431	$	120,290

A summary of the outstanding collateral and certificate balances for securitization trusts, including any retained beneficial interests and MSRs, that were not consolidated by Nationstar for the periods indicated are as follows (in thousands):

	June 30, 2012		December 31, 2011
Total collateral balances	$	4,335,667	$	4,579,142
Total certificate balances	4,338,552		4,582,598
Total mortgage servicing rights at fair value	28,182		28,635

Cash Flow Receieved from Securitization Trusts

Certain cash flows received from securitization trusts accounted for as sales for the dates indicated were as follows (in thousands):

	For the three months ended								For the six months ended
	June 30, 2012				June 30, 2011				June 30, 2012				June 30, 2011
	Servicing Fees Received		Loan Repurchases		Servicing Fees Received		Loan Repurchases		Servicing Fees Received		Loan Repurchases		Servicing Fees Received		Loan Repurchases
Total securitization trusts	$	7,939	$	—	$	7,621	$	—	$	15,832	$	—	$	15,359	$	—

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Fair Value Measurements - Level 3 Reconciliation (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2012	Jun. 30, 2012	Dec. 31, 2011
Excess Spread Financing
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 47,324	$ 44,595	$ 0
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Total gains or losses included in earnings	2,412	7,263	3,060
Total gains or losses included in other comprehensive income	0	0	0
Purchases, issuances, sales and settlements
Purchases	0	0	0
Issuances	220,374	220,342	43,742
Sales	0	0	0
Settlements	(3,417)	(5,507)	(2,207)
Ending balance	266,693	266,693	44,595
Mortgage Servicing Rights
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	266,169	251,050	145,062
Transfers into Level 3	0	0	0
Transfers out of Level 3	0	0	0
Total gains or losses included in earnings	(20,875)	(20,380)	(39,000)
Total gains or losses included in other comprehensive income	0	0	0
Purchases, issuance, sales and settlements
Purchases	340,106	341,664	102,800
Issuances	11,062	24,128	36,474
Sales	0	0	0
Settlements	0	0	5,714
Ending balance	$ 596,462	$ 596,462	$ 251,050

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General and Administrative Expenses (Tables)

6 Months Ended

Jun. 30, 2012

General and Administrative Expense [Abstract]

General and Administrative Expenses

General and administrative expenses consist of the following for the dates indicated (in thousands):

	For the three months ended				For the six months ended
	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
Servicing	$	22,553	$	5,129	$	36,443	$	8,995
Legal and professional fees	9,465		1,541		14,567		4,637
Depreciation and amortization	1,854		808		3,385		1,560
Advertising	1,306		1,204		2,048		2,053
Equipment	1,771		1,086		3,119		1,994
Telecommunications	1,159		971		2,328		1,791
Postage	1,347		898		2,661		2,415
Stationary and supplies	1,059		949		2,053		1,951
Travel	1,884		818		2,705		1,512
Dues and fees	1,687		1,471		2,599		2,444
Insurance, taxes, and other	2,325		871		3,614		1,958
Total general and administrative expenses	$	46,410	$	15,746	$	75,522	$	31,310

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Mortgage Loans Held for Sale and Investment - Mortgage Loans Held for Sale (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011	Dec. 31, 2010
Mortgage Loans Held for Sale and Investment [Abstract]
Mortgage loans held for sale - unpaid principal balance	$ 796,888	$ 442,596
Mark-to-market adjustment	41,018	16,030
Total mortgage loans held for sale	$ 837,906	$ 458,626	$ 261,019	$ 369,617

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Indebtedness - Servicing Segment Notes Payable (Details) (USD $)	1 Months Ended	6 Months Ended
	Oct. 31, 2009	Jun. 30, 2012	Dec. 31, 2011
Debt Instrument
Collateral Pledged		$ 2,850,976,000	$ 976,755,000
Servicing Segment | Notes Payable, Other | MBS Advance Financing Facility
Debt Instrument
Term of agreement		1 year
Maximum borrowing capacity		325,000,000
Variable interest rate basis		LIBOR
Interest Rate, LIBOR Plus a spread of		2.50%
Collateral Pledged		160,450,000	182,096,000
Servicing Segment | Notes Payable, Other | Securities Repurchase Facility (2011)
Debt Instrument
Extension period		90 days
Variable interest rate basis		LIBOR
Interest Rate, LIBOR Plus a spread of		3.50%
Collateral Pledged		55,603,000	55,603,000
Servicing Segment | Notes Payable, Other | MSR Note
Debt Instrument
Term of agreement	4 years
Variable interest rate basis		LIBOR
Interest Rate, LIBOR Plus a spread of		2.50%
Collateral Pledged		14,367,000	16,230,000
Servicing Segment | Notes Payable to Banks | ABS Advance Financing Facility (2010)
Debt Instrument
Maximum borrowing capacity		300,000,000
Variable interest rate basis		LIBOR
Interest Rate, LIBOR Plus a spread of		3.00%
Collateral Pledged		227,987,000	249,499,000
Servicing Segment | Notes Payable to Banks | Agency Advance Financing Facility (2011-1)
Debt Instrument
Maximum borrowing capacity		300,000,000
Variable interest rate basis		LIBOR
Collateral Pledged		47,492,000	28,811,000
Servicing Segment | Notes Payable to Banks | AW Agency Advance Financing Facility (2012)
Debt Instrument
Maximum borrowing capacity		100,000,000
Variable interest rate basis		LIBOR
Interest Rate, LIBOR Plus a spread of		2.50%
Collateral Pledged		102,164,000	0
Servicing Segment | Notes Payable to Banks | C ABS Advance Financing Facility (2012)
Debt Instrument
Maximum borrowing capacity		600,000,000
Variable interest rate basis		LIBOR
Collateral Pledged		690,097,000	0
Servicing Segment | Notes Payable to Banks | R ABS Advance Financing Facility (2012)
Debt Instrument
Maximum borrowing capacity		350,000,000
Variable interest rate basis		LIBOR
Collateral Pledged		371,422,000	0
Servicing Segment | Notes Payable to Banks | W ABS Advance Financing Facility (2012)
Debt Instrument
Maximum borrowing capacity		450,000,000
Variable interest rate basis		LIBOR
Interest Rate, LIBOR Plus a spread of		3.75%
Collateral Pledged		442,912,000	0
Servicing Segment | Notes Payable to Banks | Reverse Participations Financing Facility
Debt Instrument
Maximum borrowing capacity		150,000,000
Variable interest rate basis		LIBOR
Interest Rate, LIBOR Plus a spread of		4.00%
Collateral Pledged		$ 0	$ 0
Minimum | Servicing Segment | Notes Payable to Banks | Agency Advance Financing Facility (2011-1)
Debt Instrument
Interest Rate, LIBOR Plus a spread of		2.50%
Minimum | Servicing Segment | Notes Payable to Banks | C ABS Advance Financing Facility (2012)
Debt Instrument
Interest Rate, LIBOR Plus a spread of		3.50%
Minimum | Servicing Segment | Notes Payable to Banks | R ABS Advance Financing Facility (2012)
Debt Instrument
Interest Rate, LIBOR Plus a spread of		3.37%
Maximum | Servicing Segment | Notes Payable to Banks | Agency Advance Financing Facility (2011-1)
Debt Instrument
Interest Rate, LIBOR Plus a spread of		6.00%
Maximum | Servicing Segment | Notes Payable to Banks | C ABS Advance Financing Facility (2012)
Debt Instrument
Interest Rate, LIBOR Plus a spread of		4.00%
Maximum | Servicing Segment | Notes Payable to Banks | R ABS Advance Financing Facility (2012)
Debt Instrument
Interest Rate, LIBOR Plus a spread of		8.00%

XML

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Assets
Cash and cash equivalents	$ 15,892	$ 62,445
Restricted cash	119,512	71,499
Accounts receivable	2,487,991	562,300
Mortgage loans held for sale	837,906	458,626
Mortgage loans held for investment, subject to nonrecourse debt - Legacy Assets, net of allowance for loan losses of $6,101 and $5,824, respectively	238,173	243,480
Reverse mortgage interests	310,074	0
Receivables from affiliates	13,083	4,609
Mortgage servicing rights - fair value	596,462	251,050
Mortgage servicing rights - amortized cost	8,357	0
Property and equipment, net of accumulated depreciation of $42,573 and $39,201, respectively	39,090	24,073
Real estate owned (REO), net	3,429	3,668
Other assets	226,261	106,181
Total assets	4,896,230	1,787,931
Liabilities and equity
Notes payable	2,412,364	873,179
Unsecured senior notes	555,938	280,199
Payables and accrued liabilities	639,839	183,789
Derivative financial instruments	18,911	12,370
Mortgage servicing liabilities	81,979	0
Nonrecourse debt - Legacy Assets	106,271	112,490
Excess spread financing - fair value	266,693	44,595
Participating interest financing	181,114	0
Total liabilities	4,263,109	1,506,622
Commitments and contingencies - See Note 18
Members' units related to Nationstar Mortgage LLC	0	281,309
Preferred stock at $0.01 par value - 300,000 shares authorized, no shares issued and outstanding	0	0
Common stock at $0.01 par value - 1,000,000 shares authorized, 89,167 shares issued and outstanding	892	0
Additional paid-in-capital	550,757	0
Accumulated other comprehensive loss	(423)	0
Retained earnings	86,461	0
Common stock held by subsidiary	(4,566)	0
Total equity	633,121	281,309
Total liabilities and equity	$ 4,896,230	$ 1,787,931

XML

Guarantor Financial Statement Information (Tables)

6 Months Ended

Jun. 30, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Consolidating Balance Sheets

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING BALANCE SHEET JUNE 30, 2012 (IN THOUSANDS)
Assets	Nationstar Inc.		Issuer		Guarantor (Subsidiaries)		Non-Guarantor (Subsidiaries)		Eliminations			Consolidated
Cash and cash equivalents	$	—	$	15,574	$	318	$	—	$	—		$	15,892
Restricted cash	—		74,087		3		45,422		—			119,512
Accounts receivable, net	—		2,486,753		195		1,238		(195		)	2,487,991
Mortgage loans held for sale	—		837,906		—		—		—			837,906
Mortgage loans held for investment, subject to nonrecourse debt–Legacy Asset, net	—		8,376		—		229,797		—			238,173
Participating interest in reverse mortgages	—		310,074		—		—		—			310,074
Receivables from affiliates	—		—		77,439		1,446,695		(1,511,051		)	13,083
Mortgage servicing rights – fair value	—		596,462		—		—		—			596,462
Investment in subsidiaries	608,474		159,596		—		—		(768,070		)	—
Mortgage servicing rights – amortized cost	—		8,357		—		—		—			8,357
Property and equipment, net	—		38,255		835		—		—			39,090
REO, net	—		892		—		2,537		—			3,429
Other assets	24,647		226,261		—		—		(24,647		)	226,261
Total assets	$	633,121	$	4,762,593	$	78,790	$	1,725,689	$	(2,303,963	)	$	4,896,230
Liabilities and shareholders’ equity
Notes payable	$	—	$	881,996	$	—	$	1,530,368	$	—		$	2,412,364
Unsecured senior notes	—		555,938		—		—		—			555,938
Payables and accrued liabilities	—		663,213		—		1,468		(24,842		)	639,839
Payables to affiliates	—		1,511,051		—		—		(1,511,051		)	—
Derivative financial instruments	—		12,135		—		6,776		—			18,911
Mortgage Servicing Liability	—		81,979		—		—		—			81,979
Nonrecourse debt–Legacy Assets	—		—		—		106,271		—			106,271
Excess spread financing - at fair value	—		266,693		—		—		—			266,693
Participating interest financing	—		181,114		—		—		—			181,114
Total liabilities	—		4,154,119		—		1,644,883		(1,535,893		)	4,263,109
Total shareholders’ equity	633,121		608,474		78,790		80,806		(768,070		)	633,121
Total liabilities and shareholders’ equity	$	633,121	$	4,762,593	$	78,790	$	1,725,689	$	(2,303,963	)	$	4,896,230

NATIONSTAR MORTGAGE LLC CONSOLIDATING BALANCE SHEET DECEMBER 31, 2011 (IN THOUSANDS)
	Issuer (Parent)		Guarantor (Subsidiaries)		Non-Guarantor (Subsidiaries)		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	62,201	$	244	$	—	$	—		$	62,445
Restricted cash	49,180		3		22,316		—			71,499
Accounts receivable, net	281,782		7		280,511		—			562,300
Mortgage loans held for sale	458,626		—		—		—			458,626
Mortgage loans held for investment, subject to nonrecourse debt–Legacy Asset, net	5,984		—		237,496		—			243,480
Receivables from affiliates	41,961		70,541		—		(107,893		)	4,609
Mortgage servicing rights – fair value	251,050		—		—		—			251,050
Investment in subsidiaries	140,880		—		—		(140,880		)	—
Property and equipment, net	23,238		835		—		—			24,073
REO, net	—		—		3,668		—			3,668
Other assets	106,181		—		—		—			106,181
Total assets	$	1,421,083	$	71,630	$	543,991	$	(248,773	)	$	1,787,931
Liabilities and members’ equity
Notes payable	$	628,605	$	—	$	244,574	$	—		$	873,179
Unsecured senior notes	280,199		—		—		—			280,199
Payables and accrued liabilities	180,545		—		3,244		—			183,789
Payables to affiliates	—		—		107,893		(107,893		)	—
Derivative financial instruments	5,830		—		6,540		—			12,370
Derivative financial instruments, subject to ABS nonrecourse debt	—		—		—		—			—
Nonrecourse debt–Legacy Assets	—		—		112,490		—			112,490
Excess spread financing – fair value	44,595		—		—		—			44,595
ABS nonrecourse – fair value	—		—		—		—			—
Total liabilities	1,139,774		—		474,741		(107,893		)	1,506,622
Total members’ equity	281,309		71,630		69,250		(140,880		)	281,309
Total liabilities and members’ equity	$	1,421,083	$	71,630	$	543,991	$	(248,773	)	$	1,787,931

Consolidating Statements of Operations

NATIONSTAR MORTGAGE LLC CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2011 (IN THOUSANDS)
	Issuer			Guarantor (Subsidiaries)		Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Revenues:
Servicing fee income	$	51,571		$	1,439	$	—		$	(1,774	)	$	51,236
Other fee income	5,509			2,423		209			—			8,141
Total fee income	57,080			3,862		209			(1,774		)	59,377
Gain on mortgage loans held for sale	22,822			—		—			—			22,822
Total Revenues	79,902			3,862		209			(1,774		)	82,199
Expenses and impairments:
Salaries, wages and benefits	47,527			845		—			—			48,372
General and administrative	14,529			1,213		4			—			15,746
Provision for loan losses	—			—		—			—			—
Loss on foreclosed real estate	(43		)	—		2,142			—			2,099
Occupancy	2,142			43		—			—			2,185
Total expenses and impairments	64,155			2,101		2,146			—			68,402
Other income / (expense):
Interest income	4,580			—		10,373			1,774			16,727
Interest expense	(13,130		)	—		(12,055		)	—			(25,185		)
Fair value changes in ABS securitizations	—			—		(3,477		)	(136		)	(3,613		)
Gain / (loss) from subsidiaries	(10,244		)	—		—			10,244			—
Total other income / (expense)	(18,794		)	—		(5,159		)	11,882			(12,071		)
Net income / (loss)	(3,047		)	1,761		(7,096		)	10,108			1,726
Other comprehensive income, net of tax:
Change in value of cash flow hedges	—			—		(1,210		)	—			(1,210		)
Comprehensive income / (loss)	$	(3,047	)	$	1,761	$	(8,306	)	$	10,108		$	516

NATIONSTAR MORTGAGE LLC CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2011 (IN THOUSANDS)
	Issuer (Parent)			Guarantor (Subsidiaries)			Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Revenues:
Servicing fee income	$	109,883		$	1,439		$	—		$	(3,598	)	$	107,724
Other fee income	10,005			5,654			680			—			16,339
Total fee income	119,888			7,093			680			(3,598		)	124,063
Gain on mortgage loans held for sale	43,328			—			—			—			43,328
Total Revenues	163,216			7,093			680			(3,598		)	167,391
Expenses and impairments:
Salaries, wages and benefits	93,657			1,638			—			—			95,295
General and administrative	29,469			1,834			7			—			31,310
Provision for loan losses	724			—			404			—			1,128
Loss on foreclosed real estate	202			—			4,144			—			4,346
Occupancy	4,346			98			—			—			4,444
Total expenses and impairments	128,398			3,570			4,555			—			136,523
Other income / (expense):
Interest income	8,199			(5		)	23,253			3,598			35,045
Interest expense	(26,725		)	—			(23,828		)	—			(50,553		)
Fair value changes in ABS securitizations	—			—			(6,382		)	117			(6,265		)
Gain / (loss) from subsidiaries	(7,314		)	—			—			7,314			—
Total other income / (expense)	(25,840		)	(5		)	(6,957		)	11,029			(21,773		)
Net income / (loss)	$	8,978		$	3,518		$	(10,832	)	$	7,431		$	9,095
Other comprehensive income, net of tax:
Change in value of cash flow hedges	—			—			(1,071		)	—			(1,071		)
Comprehensive income / (loss)	$	8,978		$	3,518		$	(11,903	)	$	7,431		$	8,024

NATIONSTAR MORTGAGE INC CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2012 (IN THOUSANDS)
	Nationstar Inc.		Issuer			Guarantor (Subsidiaries)			Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Revenues:
Servicing fee income	$	—	$	84,093		$	—		$	2,453		$	(454	)	$	86,092
Other fee income	—		4,982			6,511			117			—			11,610
Total fee income	—		89,075			6,511			2,570			(454		)	97,702
Gain on mortgage loans held for sale	—		102,345			—			—			—			102,345
Total Revenues	—		191,420			6,511			2,570			(454		)	200,047
Expenses and impairments:
Salaries, wages and benefits	—		76,005			2,742			—			—			78,747
General and administrative	—		43,173			811			2,426			—			46,410
Provision for loan losses	—		(461		)	—			1,316			—			855
Loss on foreclosed real estate and other	—		124			—			1,366			—			1,490
Occupancy	—		2,870			—			—			—			2,870
Total expenses and impairments	—		121,711			3,553			5,108			—			130,372
Other income (expense):
Interest income	—		9,902			—			5,294			454			15,650
Interest expense	—		(28,637		)	—			(7,276		)	—			(35,913		)
Gain/(Loss) on interest rate swaps and caps	—		(506		)	—			149			—			(357		)
Gain/(loss) from subsidiaries	32,602		(1,448		)	—			—			(31,154		)	—
Total other income (expense)	32,602		(20,689		)	—			(1,833		)	(30,700		)	(20,620		)
Income before taxes	32,602		49,020			2,958			(4,371		)	(31,154		)	49,055
Income tax expense	3,673		(16,418		)	(5		)	(30		)	—			(12,780		)
Net income/(loss)	36,275		32,602			2,953			(4,401		)	(31,154		)	36,275
Other comprehensive income, net of tax:
Change in value of cash flow hedges	—		—			—			(423		)	—			(423		)
Comprehensive income / (loss)	$	36,275	$	32,602		$	2,953		$	(4,824	)	$	(31,154	)	$	35,852

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2012 (IN THOUSANDS)
	Nationstar Inc.		Issuer			Guarantor (Subsidiaries)			Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Revenues:
Servicing fee income	$	—	$	166,024		$	—		$	4,939		$	(921	)	$	170,042
Other fee income	—		4,982			13,649			232			—			18,863
Total fee income	—		171,006			13,649			5,171			(921		)	188,905
Gain on mortgage loans held for sale	—		172,857			—			—			—			172,857
Total Revenues	—		343,863			13,649			5,171			(921		)	361,762
Expenses and impairments:
Salaries, wages and benefits	—		135,588			4,824			—			—			140,412
General and administrative	—		69,199			1,377			4,946			—			75,522
Provision for loan losses	—		—			—			1,608			—			1,608
Loss on foreclosed real estate and other	—		124			—			3,631			—			3,755
Occupancy	—		5,652			—			—			—			5,652
Total expenses and impairments	—		210,563			6,201			10,185			—			226,949
Other income (expense):
Interest income	—		18,029			—			10,141			921			29,091
Interest expense	—		(46,832		)	—			(14,061		)	—			(60,893		)
Gain/(Loss) on interest rate swaps and caps	—		(812		)	—			187			—			(625		)
Gain/(loss) from subsidiaries	64,660		(1,334		)	—			—			(63,326		)	—
Total other income (expense)	64,660		(30,949		)	—			(3,733		)	(62,405		)	(32,427		)
Income before taxes	64,660		102,351			7,448			(8,747		)	(63,326		)	102,386
Income tax expense	21,801		(37,691		)	(5		)	(30		)	—			(15,925		)
Net income/(loss)	86,461		64,660			7,443			(8,777		)	(63,326		)	86,461
Other comprehensive income, net of tax:
Change in value of cash flow hedges	—		—			—			(423		)	—			(423		)
Comprehensive income / (loss)	$	86,461	$	64,660		$	7,443		$	(9,200	)	$	(63,326	)	$	86,038

Consolidating Statements of Cash Flows

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2012 (IN THOUSANDS)
	Nationstar Inc.			Issuer			Guarantor (Subsidiaries)			Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Operating activities:
Net income/(loss)	$	86,461		$	64,660		$	7,443		$	(8,777	)	$	(63,326	)	$	86,461
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
(Gain)/loss from subsidiaries	(64,660		)	1,334			—			—			63,326			—
Share-based compensation	—			8,030			—			—			—			8,030
Gain on mortgage loans held for sale	—			(172,857		)	—			—			—			(172,857		)
Provision for loan losses	—			—			—			1,608			—			1,608
Loss on foreclosed real estate and other	—			124			—			3,631			—			3,755
Loss on equity method investments	—			594			—			—			—			594
(Gain)/loss on ineffectiveness on interest rate swaps and cap	—			812			—			(187		)	—			625
Fair value changes in excess spread financing	—			7,263			—			—			—			7,263
Depreciation and amortization	—			3,385			—			—			—			3,385
Change in fair value of mortgage servicing rights	—			20,380			—			—			—			20,380
Accretion of mortgage servicing liability	—			(624		)	—			—			—			(624		)
Amortization of debt discount	—			7,469			—			1,012			—			8,481
Amortization of premiums/(discounts)	—			(55		)	—			(2,575		)	—			(2,630		)
Mortgage loans originated and purchased, net of fees	—			(2,996,372		)	—			—			—			(2,996,372		)
Cost of loans sold and principal payments and prepayments, and other changes in mortgage loans originated as held for sale, net of fees	—			2,723,337			—			1,033			—			2,724,370
Changes in assets and liabilities:
Accounts receivable	—			(340,581		)	(188		)	279,273			195			(61,301		)
Receivables from/(payables to) affiliates	—			1,541,884			(7,181		)	(1,533,832		)	—			871
Reverse funded advances due to securitization	—			(220,788		)	—			—			—			(220,788		)
Other assets	(27,498		)	(79,042		)	—			—			24,647			(81,893		)
Accounts payable and accrued liabilities	2,847			337,788			—			(1,776		)	(24,842		)	314,017
Net cash provided by/(used in) operating activities	(2,850		)	906,741			74			(1,260,590		)	—			(356,625		)

	Nationstar Inc.			Issuer			Guarantor (Subsidiaries)		Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Investing activities:
Property and equipment additions, net of disposals	—			(8,102		)	—		—			—			(8,102		)
Cash Proceeds from assumption of reverse mortgage servicing obligations, net	—			11,852			—		—			—			11,852
Deposit on / purchase of mortgage servicing rights, net of liabilities incurred	—			(1,979,836		)	—		—			—			(1,979,836		)
Repurchases of REO from Ginnie Mae	—			(4,464		)	—		—			—			(4,464		)
Proceeds from sales of REO	—			6,764			—		5,133			—			11,897
Net cash provided by/(used in) investing activities	—			(1,973,786		)	—		5,133			—			(1,968,653		)
Financing activities:
Issuance of Senior Unsecured Notes	—			269,500			—		—			—			269,500
Transfers to/from restricted cash	—			(78,503		)	—		(23,106		)	—			(101,609		)
Issuance of common stock, net of IPO issuance costs	249,550			—			—		—			—			249,550
Issuance of participating interest financing	—			182,577			—		—			—			182,577
Issuance of excess spread financing	—			187,438			—		—			—			187,438
Increase (decrease) in notes payable, net	—			253,391			—		1,285,794			—			1,539,185
Repayment of nonrecourse debt–Legacy assets	—			—			—		(7,231		)	—			(7,231		)
Repayment of excess servicing spread financing	—			(5,507		)	—		—			—			(5,507		)
Distribution to subsidiaries	(246,700		)	—			—		—			246,700			—
Contributions of parent	—			246,700			—		—			(246,700		)	—
Debt financing costs	—			(35,178		)	—		—			—			(35,178		)
Net cash provided by/(used in) financing activities	2,850			1,020,418			—		1,255,457			—			2,278,725
Net increase/(decrease) in cash	—			(46,627		)	74		—			—			(46,553		)
Cash and cash equivalents at beginning of period	—			62,201			244		—			—			62,445
Cash and cash equivalents at end of period	$	—		$	15,574		$	318	$	—		$	—		$	15,892

NATIONSTAR MORTGAGE LLC CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2011 (IN THOUSANDS)
	Issuer (Parent)			Guarantor (Subsidiaries)			Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Operating activities:
Net income/(loss)	$	8,978		$	3,518		$	(10,832	)	$	7,431		$	9,095
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Loss on equity method investments	521												521
Share-based compensation	10,526			—			—			—			10,526
Gain on mortgage loans held for sale	(43,328		)	—			—			—			(43,328		)
Provision for loan losses	724			—			404			—			1,128
Loss on foreclosed real estate and other	202			—			4,144			—			4,346
(Gain)/loss on ineffectiveness on interest rate swaps and cap	—			—			(1,416		)	—			(1,416		)
Fair value changes in ABS securitizations	—			—			6,382			(117		)	6,265
Loss from subsidiaries	7,314			—			—			(7,314		)	—
Depreciation and amortization	1,560			—			—			—			1,560
Change in fair value of mortgage servicing rights	11,722			—			—			—			11,722
Amortization of debt discount	4,389			—			2,057			—			6,446
Amortization of premiums/(discounts)	—			—			(2,424		)	—			(2,424		)
Mortgage loans originated and purchased, net of fees	(1,378,039		)	—			—			—			(1,378,039		)
Cost of loans sold, net of fees	1,490,814			—			—			—			1,490,814
Principal payments/prepayments received and other changes in mortgage loans originated as held for sale	19,336			—			5,462			—			24,798
Changes in assets and liabilities:
Accounts receivable	(30,448		)	—			(351		)	—			(30,799		)
Receivables from/(payables to) affiliates	(29,292		)	(3,680		)	34,614			—			1,642
Other assets	(470		)	—			—			—			(470		)
Accounts payable and accrued liabilities	3,885			—			(175		)	—			3,710
Net cash provided by/(used) in operating activities	78,394			(162		)	37,865			—			116,097

	Issuer (Parent)			Guarantor (Subsidiaries)			Non-Guarantor (Subsidiaries)			Eliminations		Consolidated
Investing activities:
Principal payments received and other changes on mortgage loans held for investment, subject to ABS nonrecourse debt	—			—			14,285			—		14,285
Property and equipment additions, net of disposals	(8,833		)	—			—			—		(8,833		)
Acquisition of equity method investment	(6,600		)	—			—			—		(6,600		)
Purchase of mortgage servicing rights	(232		)	—			—			—		(232		)
Proceeds from sales of REO	313			—			19,689			—		20,002
Net cash provided by/(used) in investing activities	(15,352		)	—			33,974			—		18,622
Financing activities:
Transfers to/from restricted cash	8,754			(3		)	(1,957		)	—		6,794
Decrease in notes payable, net	(78,884		)	—			(26,104		)	—		(104,988		)
Repayment of nonrecourse debt–Legacy assets	—			—			(14,693		)	—		(14,693		)
Repayment of ABS nonrecourse debt	—			—			(29,085		)	—		(29,085		)
Debt financing costs	(2,729		)	—			—			—		(2,729		)
Distribution to parent	(3,900		)	—			—			—		(3,900		)
Tax related share-based settlement of units by members	(4,809		)	—			—			—		(4,809		)
Net cash provided by/(used) in financing activities	(81,568		)	(3		)	(71,839		)	—		(153,410		)
Net increase/(decrease) in cash	(18,526		)	(165		)	—			—		(18,691		)
Cash and cash equivalents at beginning of period	20,904			319			—			—		21,223
Cash and cash equivalents at end of period	$	2,378		$	154		$	—		$	—	$	2,532

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Guarantor Financial Statement Information - Consolidating Statements of Operations and Comprehensive Income (Details) (USD $) In Thousands, unless otherwise specified	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2012	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Revenues:
Servicing fee income		$ 86,092	$ 51,236	$ 170,042	$ 107,724
Other fee income		11,610	8,141	18,863	16,339
Total fee income		97,702	59,377	188,905	124,063
Gain on mortgage loans held for sale		102,345	22,822	172,857	43,328
Total revenues		200,047	82,199	361,762	167,391
Expenses and impairments:
Salaries, wages and benefits		78,747	48,372	140,412	95,295
General and administrative		46,410	15,746	75,522	31,310
Provision for loan losses		855	0	1,608	1,128
Loss on foreclosed real estate and other		1,490	2,099	3,755	4,346
Occupancy		2,870	2,185	5,652	4,444
Total expenses and impairments		130,372	68,402	226,949	136,523
Other income (expense):
Interest income		15,650	16,727	29,091	35,045
Interest expense		(35,913)	(25,185)	(60,893)	(50,553)
Gain / (Loss) on interest rate swaps and caps		(357)	0	(625)	0
Fair value changes in ABS securitizations		0	(3,613)	0	(6,265)
Gain / (loss) from subsidiaries		0	0	0	0
Total other income (expense)		(20,620)	(12,071)	(32,427)	(21,773)
Income before taxes	12,400	49,055	1,726	102,386	9,095
Income tax expense	(3,100)	(12,780)	0	(15,925)	0
Net income		36,275	1,726	86,461	9,095	20,887
Other comprehensive income, net of tax:
Change in value of designated cash flow hedge		(423)	(1,210)	(423)	(1,071)	(1,071)
Comprehensive income		35,852	516	86,038	8,024
Parent Company
Revenues:
Servicing fee income		0		0
Other fee income		0		0
Total fee income		0		0
Gain on mortgage loans held for sale		0		0
Total revenues		0		0
Expenses and impairments:
Salaries, wages and benefits		0		0
General and administrative		0		0
Provision for loan losses		0		0
Loss on foreclosed real estate and other		0		0
Occupancy		0		0
Total expenses and impairments		0		0
Other income (expense):
Interest income		0		0
Interest expense		0		0
Gain / (Loss) on interest rate swaps and caps		0		0
Gain / (loss) from subsidiaries		32,602		64,660
Total other income (expense)		32,602		64,660
Income before taxes		32,602		64,660
Income tax expense		3,673		21,801
Net income		36,275		86,461
Other comprehensive income, net of tax:
Change in value of designated cash flow hedge		0		0
Comprehensive income		36,275		86,461
Issuer
Revenues:
Servicing fee income			51,571		109,883
Other fee income			5,509		10,005
Total fee income			57,080		119,888
Gain on mortgage loans held for sale			22,822		43,328
Total revenues			79,902		163,216
Expenses and impairments:
Salaries, wages and benefits			47,527		93,657
General and administrative			14,529		29,469
Provision for loan losses			0		724
Loss on foreclosed real estate and other			(43)		202
Occupancy			2,142		4,346
Total expenses and impairments			64,155		128,398
Other income (expense):
Interest income			4,580		8,199
Interest expense			(13,130)		(26,725)
Fair value changes in ABS securitizations			0		0
Gain / (loss) from subsidiaries			(10,244)		(7,314)
Total other income (expense)			(18,794)		(25,840)
Net income			(3,047)		8,978
Other comprehensive income, net of tax:
Change in value of designated cash flow hedge			0		0
Comprehensive income			(3,047)		8,978
Issuer
Revenues:
Servicing fee income		84,093		166,024
Other fee income		4,982		4,982
Total fee income		89,075		171,006
Gain on mortgage loans held for sale		102,345		172,857
Total revenues		191,420		343,863
Expenses and impairments:
Salaries, wages and benefits		76,005		135,588
General and administrative		43,173		69,199
Provision for loan losses		(461)		0
Loss on foreclosed real estate and other		124		124
Occupancy		2,870		5,652
Total expenses and impairments		121,711		210,563
Other income (expense):
Interest income		9,902		18,029
Interest expense		(28,637)		(46,832)
Gain / (Loss) on interest rate swaps and caps		(506)		(812)
Gain / (loss) from subsidiaries		(1,448)		(1,334)
Total other income (expense)		(20,689)		(30,949)
Income before taxes		49,020		102,351
Income tax expense		(16,418)		(37,691)
Net income		32,602		64,660
Other comprehensive income, net of tax:
Change in value of designated cash flow hedge		0		0
Comprehensive income		32,602		64,660
Guarantor (Subsidiaries)
Revenues:
Servicing fee income		0	1,439	0	1,439
Other fee income		6,511	2,423	13,649	5,654
Total fee income		6,511	3,862	13,649	7,093
Gain on mortgage loans held for sale		0	0	0	0
Total revenues		6,511	3,862	13,649	7,093
Expenses and impairments:
Salaries, wages and benefits		2,742	845	4,824	1,638
General and administrative		811	1,213	1,377	1,834
Provision for loan losses		0	0	0	0
Loss on foreclosed real estate and other		0	0	0	0
Occupancy		0	43	0	98
Total expenses and impairments		3,553	2,101	6,201	3,570
Other income (expense):
Interest income		0	0	0	(5)
Interest expense		0	0	0	0
Gain / (Loss) on interest rate swaps and caps		0		0
Fair value changes in ABS securitizations			0		0
Gain / (loss) from subsidiaries		0	0	0	0
Total other income (expense)		0	0	0	(5)
Income before taxes		2,958		7,448
Income tax expense		(5)		(5)
Net income		2,953	1,761	7,443	3,518
Other comprehensive income, net of tax:
Change in value of designated cash flow hedge		0	0	0	0
Comprehensive income		2,953	1,761	7,443	3,518
Non-Guarantor (Subsidiaries)
Revenues:
Servicing fee income		2,453	0	4,939	0
Other fee income		117	209	232	680
Total fee income		2,570	209	5,171	680
Gain on mortgage loans held for sale		0	0	0	0
Total revenues		2,570	209	5,171	680
Expenses and impairments:
Salaries, wages and benefits		0	0	0	0
General and administrative		2,426	4	4,946	7
Provision for loan losses		1,316	0	1,608	404
Loss on foreclosed real estate and other		1,366	2,142	3,631	4,144
Occupancy		0	0	0	0
Total expenses and impairments		5,108	2,146	10,185	4,555
Other income (expense):
Interest income		5,294	10,373	10,141	23,253
Interest expense		(7,276)	(12,055)	(14,061)	(23,828)
Gain / (Loss) on interest rate swaps and caps		149		187
Fair value changes in ABS securitizations			(3,477)		(6,382)
Gain / (loss) from subsidiaries		0	0	0	0
Total other income (expense)		(1,833)	(5,159)	(3,733)	(6,957)
Income before taxes		(4,371)		(8,747)
Income tax expense		(30)		(30)
Net income		(4,401)	(7,096)	(8,777)	(10,832)
Other comprehensive income, net of tax:
Change in value of designated cash flow hedge		(423)	(1,210)	(423)	(1,071)
Comprehensive income		(4,824)	(8,306)	(9,200)	(11,903)
Eliminations
Revenues:
Servicing fee income		(454)	(1,774)	(921)	(3,598)
Other fee income		0	0	0	0
Total fee income		(454)	(1,774)	(921)	(3,598)
Gain on mortgage loans held for sale		0	0	0	0
Total revenues		(454)	(1,774)	(921)	(3,598)
Expenses and impairments:
Salaries, wages and benefits		0	0	0	0
General and administrative		0	0	0	0
Provision for loan losses		0	0	0	0
Loss on foreclosed real estate and other		0	0	0	0
Occupancy		0	0	0	0
Total expenses and impairments		0	0	0	0
Other income (expense):
Interest income		454	1,774	921	3,598
Interest expense		0	0	0	0
Gain / (Loss) on interest rate swaps and caps		0		0
Fair value changes in ABS securitizations			(136)		117
Gain / (loss) from subsidiaries		(31,154)	10,244	(63,326)	7,314
Total other income (expense)		(30,700)	11,882	(62,405)	11,029
Income before taxes		(31,154)		(63,326)
Income tax expense		0		0
Net income		(31,154)	10,108	(63,326)	7,431
Other comprehensive income, net of tax:
Change in value of designated cash flow hedge		0	0	0	0
Comprehensive income		$ (31,154)	$ 10,108	$ (63,326)	$ 7,431

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Unaudited Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Operating activities
Net income	$ 86,461	$ 9,095
Adjustments to reconcile net income to net cash (used in) / provided by operating activities:
Share-based compensation	8,030	10,526
Gain on mortgage loans held for sale	(172,857)	(43,328)
Provision for loan losses	1,608	1,128
Loss on foreclosed real estate	3,755	4,346
Loss on equity method investments	594	521
(Gain) / loss on derivatives including ineffectiveness on interest rate swaps and caps	625	(1,416)
Fair value changes in ABS securitizations	0	6,265
Fair value changes in excess spread financing	7,263	0
Depreciation and amortization	3,385	1,560
Fair value changes in mortgage servicing rights	20,380	11,722
Amortizable/Accretion of mortgage servicing rights at amortized cost	(624)	0
Amortization of debt discount	8,481	6,446
Amortization of discounts	(2,630)	(2,424)
Mortgage loans originated and purchased, net of fees	(2,996,372)	(1,378,039)
Cost of loans sold and principal payments and prepayments, and other changes in mortgage loans originated as held for sale, net of fees	2,724,370	1,515,612
Changes in assets and liabilities:
Accounts receivable, net	(61,301)	(30,799)
Receivables from affiliates	871	1,642
Reverse mortgage interests	(220,788)	0
Other assets	(81,893)	(470)
Payables and accrued liabilities	314,017	3,710
Net cash (used in)/provided by operating activities	(356,625)	116,097
Investing activities
Principal payments received and other changes on mortgage loans held for investment, subject to ABS nonrecourse debt	0	14,285
Property and equipment additions, net of disposals	(8,102)	(8,833)
Acquisition of equity method investee	0	(6,600)
Cash proceeds from assumption of reverse mortgage servicing obligations, net	11,852	0
Purchase of forward mortgage servicing rights, net of liabilities incurred	(1,979,836)	(232)
Loan Repurchases from Ginnie Mae	(4,464)	0
Proceeds from sales of REO	11,897	20,002
Net cash (used in) / provided by investing activities	(1,968,653)	18,622
Financing activities
Issuance of Senior Unsecured Notes, net	269,500	0
Transfers (to) / from restricted cash, net	(101,609)	6,794
Issuance of common stock, net of IPO issuance costs	249,550	0
Issuance of participating interest financing	182,577	0
Issuance of excess spread financing	187,438	0
Increase (decrease) in notes payable	1,539,185	(104,988)
Repayment of nonrecourse debt - Legacy assets	(7,231)	(14,693)
Repayment of ABS nonrecourse debt	0	(29,085)
Repayment of excess servicing spread financing	(5,507)	0
Distributions to parent - FIF	0	(3,900)
Debt financing costs	(35,178)	(2,729)
Tax related share-based settlement of units by members	0	(4,809)
Net cash provided by / (used in) financing activities	2,278,725	(153,410)
Net increase / (decrease) in cash and cash equivalents	(46,553)	(18,691)
Cash and cash equivalents at beginning of period	62,445	21,223
Cash and cash equivalents at end of period	15,892	2,532
Supplemental disclosures of non-cash activities
Transfer of mortgage loans held for sale to REO at fair value	0	90
Transfer of mortgage loans held for investment to REO at fair value	3,192	3,675
Transfer of mortgage loans held for investment, subject to ABS nonrecourse debt to REO at fair value	0	9,616
Change in value of cash flow hedge-accumulated other comprehensive income	(423)	0
Mortgage servicing rights resulting from sale or securitization of mortgage loans	24,128	17,985
Excess tax benefit from share based compensation	2,846	0
Tax related share-based settlement of common stock	4,566	0
Liabilities incurred from acquired servicer advances	$ 107,117	$ 0

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Guarantor Financial Statement Information - Details (Details) (USD $)	Jun. 30, 2012 subsidiary
Debt Instrument
Guarantor Subsidiary, Ownership Percentage	100.00%
Number of Subsidiaries as Guarantors of Unsecured Debt	2
Unsecured Senior Notes
Debt Instrument
Principal amount	560,000,000

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Mortgage Loans Held for Sale and Investment - Reverse Mortgage Interests (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Mortgage Loans Held for Sale and Investment [Abstract]
Reverse mortgage interests	$ 310,074	$ 0

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Related Party Disclosures (Details) (USD $) In Millions, unless otherwise specified	1 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2012	Jun. 30, 2012 NREIS	Jun. 30, 2012 NREIS	Dec. 31, 2011 NREIS	May 31, 2012 NREIS
Related Party Transaction [Line Items]
Percentage interest in equity investment acquired	13.00%
Percentage interest in equity investment	35.00%
Servicing-related advances		$ 3.1	$ 7.8	$ 4.9
Advances to Affiliate					$ 2.0

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Mortgage Servicing Rights (Tables)

6 Months Ended

Jun. 30, 2012

Transfers and Servicing [Abstract]

Schedule of Assumptions for Fair Value of Mortgage Service Rights

Nationstar used the following weighted average assumptions in estimating the fair value of MSRs for the dates indicated:

Credit Sensitive MSRs	June 30, 2012		December 31, 2011
Discount rate	17.93	%	25.71	%
Total prepayment speeds	20.09	%	15.80	%
Expected weighted-average life	4.79 years		5.15 years
Credit losses	25.09	%	35.42	%
Interest Rate Sensitive MSRs	June 30, 2012		December 31, 2011
Discount rate	10.65	%	10.46	%
Total prepayment speeds	18.03	%	19.02	%
Expected weighted-average life	4.91 years		5.04 years
Credit losses	10.22	%	9.73	%

Schedule of Servicing Assets at Fair Value

The activity of MSRs carried at fair value is as follows for the dates indicated (in thousands):

	Six months ended June 30, 2012			Year ended December 31,2011
Fair value at the beginning of the period	$	251,050		$	145,062
Additions:
Servicing resulting from transfers of financial assets	24,128			36,474
Recognition of servicing assets from derecognition of variable interest entities	—			5,714
Purchases of servicing assets	341,664			102,800
Changes in fair value:
Due to changes in valuation inputs or assumptions used in the valuation model	(1,686		)	(14,207		)
Other changes in fair value	(18,694		)	(24,793		)
Fair value at the end of the period	$	596,462		$	251,050
Unpaid principal balance of forward loans serviced for others
Originated or purchased mortgage loans
Credit sensitive loans	$	102,335,034		$	32,408,623
Interest sensitive loans	14,779,772			11,844,831
Total owned loans	$	117,114,806		$	44,253,454

Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets [Table Text Block]

The following table shows the hypothetical effect on the fair value of the MSRs using various unfavorable variations of the expected levels of certain key assumptions used in valuing these assets at June 30, 2012 and December 31, 2011 (in thousands):

	Discount Rate						Total Prepayment Speeds						Credit Losses
	100 bps Adverse Change			200 bps Adverse Change			10% Adverse Change			20% Adverse Change			10% Adverse Change			20% Adverse Change
June 30, 2012
Mortgage servicing rights	$	(18,914	)	$	(36,648	)	$	(68,006	)	$	(137,411	)	$	(51,448	)	$	(107,296	)
December 31, 2011
Mortgage servicing rights	$	(6,640	)	$	(12,929	)	$	(13,281	)	$	(25,215	)	$	(5,081	)	$	(10,944	)

Activity of MSRs at Amortized Cost

The activity of MSRs carried at amortized cost is as follows for the date indicated (in thousands):

	Six months Ended
	June 30, 2012
	Assets			Liabilities
Activity of MSRs at amortized cost
Balance at the beginning of the period	$	—		$	—
Additions:
Purchase /Assumptions of servicing rights/obligations	9,000			83,246
Deductions:
Amortization/Accretion	(643		)	(1,267		)
Balance at end of the period	$	8,357		$	81,979

Schedule of Fees in Servicing Portfolio

Total servicing and ancillary fees from Nationstar’s servicing portfolio of residential mortgage loans are presented in the following table for the periods indicated (in thousands):

	For the three months ended June 30				For the six months ended June 30
	2012		2011		2012		2011
Servicing fees	$	65,769	$	42,060	$	127,973	$	85,197
Ancillary fees	23,573		18,719		49,538		37,076
Total servicing and ancillary fees	$	89,342	$	60,779	$	177,511	$	122,273

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Other Assets - Others Assets (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Other Assets
Interest rate locks	$ 53,193	$ 11,302
Deferred financing costs	26,995	12,059
Equity method investment	9,727	6,493
Margin call deposits	7,325	4,518
Prepaid expenses	3,176	4,286
Unsecured loans	1,818	1,827
Other	4,127	1,057
Total other assets	226,261	106,181
Mortgage Servicing Rights
Other Assets
Deposits for acquisitions	1,770	28,904
GNMA
Other Assets
Loans subject to repurchase right from Ginnie Mae	46,130	35,735
Pending Acquisition | Mortgage Servicing Rights
Other Assets
Deposits for acquisitions	$ 72,000	$ 0

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Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Net income per share is computed under the provisions of ASC 260, Earnings Per Share. Basic net income per share is computed based on the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed based on the weighted-average number of common shares plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares represent outstanding restricted stock.

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Other Assets (Tables)

6 Months Ended

Jun. 30, 2012

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets

Other assets consisted of the following (in thousands):

	June 30, 2012		December 31, 2011
Interest rate locks	$	53,193	$	11,302
Deferred financing costs	26,995		12,059
Deposit in escrow for ResCap acquisition	72,000		—
Deposits pending on mortgage servicing rights acquisitions	1,770		28,904
Loans subject to repurchase right from Ginnie Mae	46,130		35,735
Equity method investment	9,727		6,493
Margin call deposits	7,325		4,518
Prepaid expenses	3,176		4,286
Unsecured loans	1,818		1,827
Other	4,127		1,057
Total other assets	$	226,261	$	106,181

Summarized Financial Information of Equity Investment

A summary of the assets, liabilities, and operations of ANC as of the following periods are presented in the following tables (in thousands):

							June 30, 2012			December 31, 2011
ASSETS
Cash							$	3,100		$	2,486
Accounts receivable							2,675			5,296
Receivables from affiliates							257			92
Equity method investments							2,881			2,788
Property and equipment, net							2,044			1,995
Goodwill and other intangible assets							33,796			33,876
Other assets							488			590
Total assets							$	45,241		$	47,123
LIABILITIES
Notes payable							$	4,724		$	4,724
Payables and accrued liabilities							13,882			13,236
Total liabilities							$	18,606		$	17,960
	Three months ended June 30,						Six months ended June 30,
	2012			2011			2012			2011
REVENUES
Sales	$	13,083		$	12,201		$	28,379		$	12,201
Cost of sales	(10,080		)	(10,722		)	(21,431		)	(10,722		)
Net sales revenues	3,003			1,479			6,948			1,479
OTHER INCOME/(EXPENSE)
Operating costs	(4,559		)	(3,951		)	(9,062		)	(3,951		)
Income from equity method investments	552			405			1,255			405
Depreciation and amortization	(373		)	(219		)	(761		)	(219		)
Other income/(expense)	(39		)	(53		)	(69		)	(53		)
Loss from discontinued operations	(12		)	(27		)	(35		)	(27		)
Total other income/(expense)	(4,431		)	(3,845		)	(8,672		)	(3,845		)
Net loss	$	(1,428	)	$	(2,366	)	$	(1,724	)	$	(2,366	)

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Disclosures Related to Transactions with Affiliates of Fortress Investment Group LLC (Details) (USD $) In Thousands, unless otherwise specified			3 Months Ended		6 Months Ended				1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2012 Springleaf	Jun. 30, 2011 Springleaf	Jun. 30, 2012 Springleaf	Jun. 30, 2011 Springleaf	Dec. 31, 2011 Springleaf	Jan. 31, 2011 Springleaf	Dec. 31, 2011 Newcastle	Jun. 30, 2012 Newcastle	Jun. 30, 2011 Newcastle	Jun. 30, 2012 Newcastle	Jun. 30, 2011 Newcastle	Jun. 30, 2012 Loan Subservicing Agreement	Dec. 31, 2011 Loan Subservicing Agreement	Jan. 31, 2011 Loan Subservicing Agreement Springleaf agreement	Jan. 31, 2011 Securitized Mortgage Loans Springleaf agreement	Jun. 30, 2012 Securitized Mortgage Loans Newcastle loan_portfolio
Schedule of Transactions with Affiliates of Fortress Investment Group LLC [Line Items]
Principal amount outstanding on loans managed and securitized								$ 4,400,000		$ 1,000,000	$ 1,200,000	$ 1,000,000	$ 1,200,000	$ 47,600,000	$ 53,700,000
Servicing revenue			2,500	2,700	5,100	4,900				1,300	1,500	2,600	3,000
Due from Affiliates	13,083	4,609	500		500		600			34,500		34,500
Number of Loan Portfolios Covered in Service Contract																3	2	2
Servicing fee, percentage of unpaid principal balance												0.50%
Percentage interest sold in excess cash flow									65.00%
Percentage interest retained of excess cash flow									35.00%
Excess spread financing at fair value	$ 266,693	$ 44,595

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2012

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Litigation and Regulatory Matters

In the ordinary course of business, Nationstar Inc. and its subsidiaries and current and former officers and employees are routinely named as defendants in various legal actions, including class actions and other litigation, arising in connection with activities related to a national mortgage servicer and lender. Certain of the actual or threatened legal actions include claims for substantial compensatory, punitive and/or, statutory damages or claims for an indeterminate amount of damages. Further, in the ordinary course of business the Company and certain related parties can be or are involved in governmental and regulatory examinations, information gathering requests, investigations and proceedings (both formal and informal), regarding the Company’s business, certain of which may result in adverse judgments, settlements, fines, penalties, injunctions or other relief.

The Company seeks to resolve all litigation and regulatory matters in the manner management believes is in the best interest of the Company and contests liability, allegations of wrongdoing and, where applicable, the amount of damages or scope of any penalties or other relief sought as appropriate in each pending matter. On at least a quarterly basis, the Company assesses its liabilities and contingencies in connection with outstanding legal and regulatory proceedings utilizing the latest information available. Where available information indicates that it is probable a liability has been incurred and the Company can reasonably estimate the amount of that loss an accrued liability is established. The actual costs of resolving these proceedings may be substantially higher or lower than the amounts accrued.

A 50 state task force of attorneys general as well as certain federal agencies are investigating issues related to the conduct of certain mortgage servicing companies and related service providers, in connection with mortgage foreclosures. While the Company is not involved in the investigation or negotiations regarding a settlement, the ultimate outcome could have a material impact on other mortgage servicers, including the Company.

When a loss contingency is not both probable and estimable, the Company does not establish an accrued liability. As a litigation or regulatory matter develops, the Company, in conjunction with any outside counsel handling the matter, evaluates on an ongoing basis whether such matter presents a loss contingency that is probable and estimable. If, at the time of evaluation, the loss contingency is not both probable and estimable, the matter will continue to be monitored for further developments that would make such loss contingency both probable and estimable. Once the matter is deemed to be both probable and estimable, the Company will establish an accrued liability and record a corresponding amount to litigation related expense. The Company will continue to monitor the matter for further developments that could affect the amount of the accrued liability that has been previously established. Litigation related expense, which includes the fees paid to external legal providers, of $4.6 million and $6.2 million were included in general and administrative expense on the consolidated statements of operations for the three and six months endedJune 30, 2012, respectively, and $1.5 million for the six months ended June 30, 2011. There were no significant additional litigation related expenses for the three months ended June 30, 2011.

Based on current knowledge, and after consultation with counsel, management believes that the current legal accrued liability is appropriate, and the amount of any incremental liability arising from these matters is not expected to have a material adverse effect on the consolidated financial condition of the Company, although the outcome of such proceedings could be material to the Company’s operating results and cash flows for a particular period depending on among other things, the level of the Company’s revenues or income for such period. However, in the event of significant developments on existing cases, it is possible that the ultimate resolution, if unfavorable, may be material to the Company’s consolidated financial statements.

Lease Commitments

Nationstar leases various office facilities under non-cancelable lease agreements with primary terms extending through 2019. These lease agreements generally provide for market-rate renewal options, and may provide for escalations in minimum rentals over the lease term. Minimum annual rental commitments for office leases with unrelated parties and with initial or remaining terms of one year or more, net of sublease payments, are presented below (in thousands).

Year	Amount
2012	$	6,103
2013	16,397
2014	14,212
2015	11,845
2016	8,450
Thereafter	12,113
Total	$	69,120

Loan and Other Commitments

Nationstar enters into IRLCs with prospective borrowers whereby the Company commits to lend a certain loan amount under specific terms and interest rates to the borrower. These IRLCs are treated as derivatives and are carried at fair value (See Note 10, Derivative Financial Instruments).

In 2012, Nationstar completed its acquisitions of certain MSRs related to approximately $27.2 billion of unpaid principal balance in reverse mortgage loans from financial services companies. As servicer for these reverse mortgage loans, among other things, the Company is obligated to make advances to the loan customers as required. At June 30, 2012, the Company’s maximum unfunded advance obligation related to these MSRs was approximately $4.5 billion. Upon funding any portion of these advances, the Company expects to securitize and sell the advances in transactions that will be accounted for as financing arrangements.

Other Contingencies

In June 2011, Nationstar entered into an agreement to subservice loans for a financial services company. Nationstar began to subservice these loans in July and August 2011. This subservicing agreement included, among other things, a loss incentive and sharing arrangement. Under this arrangement, Nationstar can earn incentive fees of up to $2.5 million for successfully mitigating losses within a specific subserviced population of loans. This incentive fee would be recognized when earned. For this same population of loans, Nationstar is subject to loss sharing under certain conditions. Should losses in this population of loans exceed a specified level, Nationstar would be required to share a portion of the losses on such loans up to a maximum of $10.0 million. Losses under this arrangement would be recognized at the point at which Nationstar determines that a liability is expected to be incurred. At June 30, 2012, Nationstar has estimated no liability under this agreement.

During December 2009, Nationstar entered into a strategic relationship with a major mortgage market participant, which

contemplates, among other things, significant mortgage servicing rights and subservicing transfers to Nationstar upon terms to be determined. Under this arrangement, if certain delivery thresholds have been met, the market participant may require Nationstar to establish an operating division or newly created subsidiary with separate, dedicated employees within a specified timeline to service such mortgage servicing rights and subservicing. After a specified time period, this market participant may purchase the subsidiary at an agreed upon price. Since December 2010, all of the required delivery thresholds with this market participant have been met, but the market participant has not required the Company to establish an operating division or newly created subsidiary with separate, dedicated employees.

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Payables and Accrued Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Payables and Accruals [Abstract]
Payables to securitization trusts	$ 10,250	$ 10,665
Loans subject to repurchase from Ginnie Mae	46,130	35,735
Cancelled lease reserves	7,810	9,160
Legal and professional fees	9,345	5,931
MSR purchases payable	169,265	8,204
Accrued bonus and payroll	23,864	21,236
Accrued interest	18,715	10,225
Mortgage insurance premiums and reserves	58,604	19,162
Government sponsored entities	43,499	18,728
Repurchase reserves	12,424	10,026
Deposit from MSR co-investor for ResCap	25,200	0
Reverse mortgage payables	95,823	0
Originations closed not funded	51,626	0
Taxes	12,790	154
Other	54,494	34,563
Total payables and accrued liabilities	$ 639,839	$ 183,789

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Nature of Business, Basis of Presentation and Material Transaction

6 Months Ended

Jun. 30, 2012

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Nature of Business, Basis of Presentation and Material Transaction

Nature of Business, Basis of Presentation and Material Transaction

Nature of Business

Nationstar Mortgage Holdings Inc. (Nationstar Inc. or the Company) is a Delaware corporation, formed in conjunction with and for the purpose of effecting an initial public offering by allowing common shareholders to own equity in a corporation instead of in a limited liability company.

Nationstar Inc. is a holding company that conducts no operating activities and owns no significant assets other than through its interests in its subsidiaries. Through its subsidiaries, Nationstar Inc. is engaged primarily in the servicing of residential mortgage loans for others and the origination and selling or securitization of single-family conforming mortgage loans to government-sponsored entities (GSE) or other third party investors in the secondary market. Nationstar Mortgage LLC (Nationstar), the Company's principal operating subsidiary, is one of the largest high touch non-bank servicers in the United States.

Basis of Presentation

In conjunction with the initial public offering of Nationstar Inc., Nationstar became a wholly-owned indirect subsidiary of Nationstar Inc. Prior to the reorganization and initial public offering (Reorganization), Nationstar was a wholly-owned subsidiary of FIF HE Holdings LLC (FIF). Nationstar Inc. was formed solely for the purpose of reorganizing the structure of FIF and Nationstar so that the common stock issuer was a corporation rather than a limited liability company. As such, investors own common stock rather than equity interests in a limited liability company. Upon completion of the initial public offering and Reorganization, all of the equity interests in Nationstar were transferred from FIF to two direct wholly-owned subsidiaries of Nationstar Inc. In conjunction with the Reorganization, FIF contributed certain assets to Nationstar. The Reorganization has been accounted for as a reorganization under common control and, accordingly, there was no change in the basis of the assets and liabilities. As part of the Reorganization, FIF exchanged its equity in Nationstar for 70,000,000 shares of common stock in Nationstar Inc.

The consolidated financial statements include the accounts of Nationstar Inc. and its wholly-owned subsidiaries and those variable interest entities (VIEs) where Nationstar Inc.'s wholly-owned subsidiaries are the primary beneficiaries. Nationstar Inc. applies the equity method of accounting to investments when the entity is not a VIE and Nationstar Inc. is able to exercise significant influence, but not control, over the policies and procedures of the entity but owns less than 50% of the voting interests. Intercompany balances and transactions have been eliminated. Results of operations, assets and liabilities of VIEs are included from the date that Nationstar Inc. became the primary beneficiary through the date Nationstar Inc. ceases to be the primary beneficiary.

The interim consolidated financial statements are unaudited; however, in the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the results of the interim periods have been included. The consolidated interim financial statements of Nationstar Inc. have been prepared in accordance with generally accepted accounting principles (GAAP) for interim information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (SEC). Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in Nationstar Mortgage LLC's Annual Report on Form 10-K filed on March 15, 2012. The results of operations for the six month period ended June 30, 2012, are not necessarily indicative of the results that may be expected for the year ended December 31, 2012. Certain prior period amounts have been reclassified to conform to the current period presentation. Nationstar Inc. evaluated subsequent events through the date these interim consolidated financial statements were issued.

Material Transaction

On March 6, 2012, Nationstar entered into an asset purchase agreement with Aurora Bank FSB and Aurora Loan Services LLC, (collectively "Aurora"). Nationstar and Aurora closed the asset purchase in June 2012. Nationstar paid Aurora approximately $2.0 billion that included mortgage servicing rights of approximately $271.5 million and servicing advance receivables of approximately $1.7 billion. As a part of the purchase, certain other assets and liabilities were also acquired. The mortgage servicing rights relate to approximately 300,000 residential mortgage loans with an unpaid principal balance of over $63 billion. As of the closing date, Nationstar entered into certain financing arrangements amounting to approximately $1.3 billion for the servicing advance receivables and $176.5 million for excess spread financing related to the mortgage servicing rights. The remainder of the purchase price was funded with Nationstar cash.

During June 2012, loans with an unpaid principal balance of $6.2 billion were boarded onto Nationstar's servicing platform, with the remaining $57.0 billion boarded in July 2012. The loans boarded in July 2012 were subserviced by Aurora until they were boarded by Nationstar.

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Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Allowance for loan losses of mortgage loans held for investment, subject to nonrecourse debt	$ 6,101	$ 5,824
Accumulated depreciation of property and equipment	$ 42,573	$ 39,201
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	300,000	300,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000	1,000,000
Common Stock, Shares issued	89,167	89,167
Common Stock, Shares outstanding	89,167	89,167

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Indebtedness

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Indebtedness

Indebtedness

Notes Payable

A summary of the balances of notes payable for the dates indicated is presented below (in thousands).

	June 30, 2012				December 31, 2011
	Outstanding		Collateral Pledged		Outstanding		Collateral Pledged
Servicing Segment Notes Payable
MBS advance financing facility	$	157,241	$	160,450	$	179,904	$	182,096
Securities repurchase facility (2011)	11,774		55,603		11,774		55,603
2010-ABS advance financing facility	197,085		227,987		219,563		249,499
2011-1 Agency advance financing facility	42,705		47,492		25,011		28,811
MSR note	7,404		14,367		10,180		16,230
2012-AW Agency advance financing facility	84,151		102,164		—		—
2012-C ABS advance financing facility	533,217		690,097		—		—
2012-R ABS advance financing facility	312,092		371,422		—		—
2012-W ABS advance financing facility	359,541		442,912		—		—
Reverse participations financing facility	—		—		—		—
Originations Segment Notes Payable
$375 million warehouse facility	297,743		314,763		46,810		51,040
$150 million warehouse facility	77,251		83,891		251,722		265,083
$250 million warehouse facility (2011)	109,729		115,509		7,310		7,672
$100 million warehouse facility (2009)	98,747		102,861		16,047		16,715
ASAP+ facility	123,684		121,458		104,858		104,006
Total notes payable	$	2,412,364	$	2,850,976	$	873,179	$	976,755

Servicing Segment Notes Payable

MBS advance financing facility - Nationstar has a one-year committed facility agreement with a GSE, under which Nationstar may transfer to the GSE certain servicing advance receivables against the transfer of funds by the GSE. This facility has the capacity to purchase up to $325 million in eligible servicing advance receivables. The interest rate is based on LIBOR plus a spread of 2.50%. The maturity date of this facility is currently December 2012.

Securities repurchase facility (2011) - In December 2011, Nationstar entered into a securities repurchase facility with a financial services company that was amended in February 2012 to extend the expiration to February 22, 2013. The MRA states that Nationstar may from time to time transfer to the financial services company eligible securities against the transfer of funds by the financial services company, with a simultaneous agreement by the financial services company to transfer such securities to Nationstar at a certain date, or on demand by Nationstar, against the transfer of funds from Nationstar. Additionally, the financial services company may elect to extend the transfer date for an additional 90 days at mutually agreed upon terms. The interest rate is based on LIBOR plus a margin of 3.50%. As of June 30, 2012, Nationstar has pledged the Company’s $55.6 million outstanding retained interest in the outstanding Nonrecourse debt—Legacy Assets securitization which was structured as a financing.

2010-ABS advance financing facility - In December 2010, Nationstar executed the 2010-ABS Advance Financing Facility with a financial institution. This facility has the capacity to purchase up to $300 million of advance receivables. The interest rate is based on LIBOR plus a spread of 3.00%. This facility matures in May 2014. This debt is nonrecourse to Nationstar.

2011-1 Agency advance financing facility - In October 2011, Nationstar executed the 2011-1 Agency Advance Financing Facility with a financial institution. This facility has the capacity to borrow up to $300 million and the interest rate is based on LIBOR plus a spread ranging from 2.5% to 6.50% depending upon class of the note. The maturity date of this facility is October 2012. This facility is secured by servicing advance receivables and is nonrecourse to Nationstar.

MSR note - In connection with the October 2009 MSR acquisition, Nationstar executed a four-year note agreement with a GSE. As collateral for this note, Nationstar has pledged Nationstar’s rights, title, and interest in the acquired servicing portfolio. The interest rate is based on LIBOR plus 2.50%. The maturity date of this facility is October 2013.

2012-AW Agency advance financing facility - In June 2012, Nationstar executed the 2012-AW Agency Advance Financing Facility with a financial institution. This facility has the capacity to borrow up to $100 million and the interest rate is based on LIBOR plus a spread of 2.50%. The maturity date of this facility is June 2013. This facility is secured by servicing advance receivables and is nonrecourse to Nationstar.

2012-C ABS advance financing facility - In June 2012, Nationstar executed the 2012-C ABS Advance Financing Facility with a financial institution. This facility has the capacity to borrow up to $600 million and the interest rate is based on LIBOR plus a spread ranging from 3.50% to 4.50%. The maturity date of this facility is June 2014. This facility is secured by servicing advance receivables and is nonrecourse to Nationstar.

2012-R ABS advance financing facility - In June 2012, Nationstar executed the 2012-R ABS Advance Financing Facility with a financial institution. This facility has the capacity to borrow up to $350 million and the interest rate is based on LIBOR plus a spread ranging from 3.37% to 8.00%. The maturity date of this facility is June 2014. This facility is secured by servicing advance receivables and is nonrecourse to Nationstar.

2012-W ABS advance financing facility - In June 2012, Nationstar executed the 2012-W ABS Advance Financing Facility with a financial institution. This facility has the capacity to borrow up to $450 million and the interest rate is based on LIBOR plus a spread of 3.75%. The maturity date of this facility is June 2013. This facility is secured by servicing advance receivables and is nonrecourse to Nationstar.

Reverse participations financing facility - In June 2012, Nationstar executed a reverse participation financing facility with a financial institution. This facility has capacity to borrow up to $150 million and the interest rate is based on LIBOR plus a spread of 4.00%. The maturity date of this facility is June 2014. This facility is secured by reverse mortgage interest.

Originations Segment Notes Payable

$375M warehouse facility - In February 2010, Nationstar executed a Master Repurchase Agreement (MRA) with a financial institution, which will expire in January 2013. The MRA states that from time to time Nationstar may enter into transactions, for an aggregate amount of $375 million, in which Nationstar agrees to transfer to the same financial institution certain mortgage loans against the transfer of funds by the same financial institution, with a simultaneous agreement by the same financial institution to transfer such mortgage loans to Nationstar at a date certain, or on demand by Nationstar, against the transfer of funds from Nationstar. In June 2012, Nationstar amended the agreement to increase the borrowing capacity from $175 million to $375 million. The interest rate is based on LIBOR plus a spread ranging from 1.75% to 2.50%.

$150M warehouse facility - Nationstar has an MRA with a financial services company, which was amended in February 2012 to expire in February 2013 and reduce the committed amount from $300 million to $150 million. The MRA states that from time to time Nationstar may enter into transactions in which Nationstar agrees to transfer to the financial services company certain mortgage loans or MBS against the transfer of funds by the financial services company, with a simultaneous agreement by the financial services company to transfer such mortgage loans or MBS to Nationstar at a certain date, or on demand by Nationstar, against the transfer of funds from Nationstar. The interest rate is based on LIBOR plus a margin of 3.25%.

$250M warehouse facility (2011) - In March 2011, Nationstar executed an MRA with a financial institution, under which Nationstar may enter into transactions, for an aggregate amount of $250 million in which Nationstar agrees to transfer to the same financial institution certain mortgage loans and certain securities against the transfer of funds by the same financial institution, with a simultaneous agreement by the same financial institution to transfer such mortgage loans and securities to Nationstar at a date certain, or on demand by Nationstar, against the transfer of funds from Nationstar. In June 2012, Nationstar amended the agreement to increase the borrowing capacity from $100 million to $250 million. The maturity is February 2013 with the interest rate based on LIBOR plus a spread of 2.25% to 3.00%, which varies based on the underlying transferred collateral.

$100M warehouse facility (2009) - In October 2009, Nationstar executed a MRA with a financial institution. This MRA states that from time to time Nationstar may enter into transactions, for an aggregate amount of $100 million, in which Nationstar agrees to transfer to the financial institution certain mortgage loans against the transfer of funds by the financial institution, with a simultaneous agreement by the financial institution to transfer such mortgage loans to Nationstar at a certain date, or on demand by Nationstar, against the transfer of funds from Nationstar. The interest rate is based on LIBOR plus a spread of 3.50%. The maturity date of this MRA with the financial institution is January 2013.

ASAP + facility - During 2009, Nationstar began executing As Soon As Pooled Plus agreements with a GSE, under which Nationstar transfers to the GSE eligible mortgage loans that are to be pooled into the GSE MBS against the transfer of funds by the GSE. The interest rate is based on LIBOR plus a spread of 1.50%. These agreements typically have a maturity of up to 45 days.

Unsecured Senior Notes

A summary of the balances of unsecured senior notes is presented below (in thousands):

	June 30, 2012		December 31, 2011
$285 million face value, 10.875% interest rate payable semi-annually, due April 2015.	$	280,938	$	280,199
$275 million face value, 9.625% interest rate payable semi-annually, due May 2019.	275,000		—
Total	$	555,938	$	280,199

In March 2010, Nationstar completed the offering of $250 million of unsecured senior notes, which were issued with an issue discount of $7.0 million for net cash proceeds of $243.0 million, with a maturity date of April 2015. In December 2011, Nationstar completed an additional offering of $35 million of unsecured senior notes under the same indenture. The additional offering was issued with an issue discount of $0.3 million for net cash proceeds of $34.7 million. These unsecured senior notes pay interest semi-annually at an interest rate of 10.875%. These unsecured notes have been registered under the Securities Act of 1933.

In April 2012, Nationstar completed an offering of $275.0 million in senior unsecured notes, the proceeds of this offering were $269.5 million, with a maturity of May 2019. These unsecured senior notes pay interest semi-annually at an interest rate of 9.625%. These unsecured notes were issued in a private placement and have not been registered under the Securities Act of 1933.

The indentures for the unsecured senior notes contain various covenants and restrictions that limit the Company's, Nationstar's, or certain of its subsidiaries’, ability to incur additional indebtedness, pay dividends, make certain investments, create liens, consolidate, merge or sell substantially all of their assets, or enter into certain transactions with affiliates.

The expected maturities of Nationstar's senior unsecured notes based on contractual maturities are as follows (in thousands).

Year	Amount
2013	$	—
2014	—
2015	285,000
2016	—
2017	—
Thereafter	275,000
Total	$	560,000

Legacy Asset and Other Financing

Nonrecourse Debt–Legacy Assets

In November 2009, Nationstar completed the securitization of approximately $222 million of ABS, which was structured as a secured borrowing. This structure resulted in Nationstar carrying the securitized loans as mortgages on Nationstar’s consolidated balance sheet and recognizing the asset-backed certificates acquired by third parties as nonrecourse debt, totaling approximately $106.3 million and $112.5 million at June 30, 2012, and December 31, 2011, respectively. The principal and interest on these notes are paid using the cash flows from the underlying mortgage loans, which serve as collateral for the debt. The interest rate paid on the outstanding securities is 7.50%, which is subject to an available funds cap. The total outstanding principal balance on the underlying mortgage loans serving as collateral for the debt was approximately $353.1 million and $373.1 million at June 30, 2012 and December 31, 2011, respectively. Accordingly, the timing of the principal payments on this nonrecourse debt is dependent on the payments received on the underlying mortgage loans. The unpaid principal balance on the outstanding notes was $123.6 million and $130.8 million at June 30, 2012 and December 31, 2011, respectively.

Excess Spread Financing Debt at Fair Value

In conjunction with Nationstar's acquisition of certain mortgage servicing rights on various pools of residential mortgage loans (the Portfolios), Nationstar has entered into sale and assignment agreements which are treated as financings with an indirect wholly-owned subsidiary of Newcastle. Nationstar is an affiliate of Newcastle’s manager. Nationstar, in transactions accounted for as financing arrangements, sold to Newcastle the right to receive 65% of the excess cash flow generated from the Portfolios after receipt of a fixed basic servicing fee per loan.

Nationstar retains all ancillary income associated with servicing the Portfolios and 35% of the excess cash flow after receipt of the fixed basic servicing fee. Nationstar continues to be the servicer of the Portfolios and provides all servicing and advancing functions. Newcastle has no prior or ongoing obligations associated with the Portfolios.

Contemporaneous with the above, Nationstar entered into refinanced loan agreements with Newcastle. Should Nationstar refinance any loan in the Portfolios, subject to certain limitations, Nationstar will be required to transfer the new loan or a replacement loan of similar economic characteristics into the Portfolios. The new or replacement loan will be governed by the same terms set forth in the sale and assignment agreement described above.

The total carrying amount of the outstanding excess spread financing agreements was $266.7 million and $44.6 million at June 30, 2012 and December 31, 2011, respectively.

Participating Interest Financing

Participating interest financing represent the issuance of pools of Home Equity Conversion Mortgage Backed Securities (HMBS) to third-party security holders which are guaranteed by certain GSEs. Nationstar has accounted for the transfer of these advances in the related Home Equity Conversion Mortgages (HECM) loans as secured borrowings, retaining the initial Reverse mortgage interests on its balance sheet, and recording the pooled HMBS as participating interest financing liabilities on the Company’s balance sheet. Monthly cash flows generated from the HECM loans are used to service the HMBS. The interest rate is based on the underlying HMBS rate with a range of 0.53% to 7.17%. The participating interest financing was $181.1 million at June 30, 2012. There was none outstanding at December 31, 2011.

Financial Covenants

As of June 30, 2012, Nationstar was in compliance with its covenants on its borrowing arrangements and credit facilities. These covenants generally relate to Nationstar’s tangible net worth, liquidity reserves, and leverage requirements.

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Business Segment Reporting - Financial Information (Details) (USD $) In Thousands, unless otherwise specified	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2012	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012 segment	Jun. 30, 2011	Dec. 31, 2011
Segment Reporting Information [Line Items]
Number of operating segments				2
Revenues:
Servicing fee income		$ 86,092	$ 51,236	$ 170,042	$ 107,724
Other fee income		11,610	8,141	18,863	16,339
Total fee income		97,702	59,377	188,905	124,063
Gain/(loss) on mortgage loans held for sale		102,345	22,822	172,857	43,328
Total revenues		200,047	82,199	361,762	167,391
Total expenses and impairments		130,372	68,402	226,949	136,523
Other income (expense):
Interest income		15,650	16,727	29,091	35,045
Interest expense		(35,913)	(25,185)	(60,893)	(50,553)
Fair value changes in ABS securitizations		0	(3,613)	0	(6,265)
Gain / (Loss) on interest rate swaps and caps		(357)	0	(625)	0
Total other income (expense)		(20,620)	(12,071)	(32,427)	(21,773)
Income before taxes	12,400	49,055	1,726	102,386	9,095
Depreciation and amortization		1,854	808	3,385	1,560
Total assets		4,896,230	1,790,742	4,896,230	1,790,742	1,787,931
Operating Segments
Revenues:
Servicing fee income		85,926	52,665	169,726	110,585
Other fee income		11,708	7,291	18,991	14,533
Total fee income		97,634	59,956	188,717	125,118
Gain/(loss) on mortgage loans held for sale		102,335	22,911	172,835	43,480
Total revenues		199,969	82,867	361,552	168,598
Total expenses and impairments		121,636	63,598	209,340	125,817
Other income (expense):
Interest income		10,254	3,556	18,420	7,126
Interest expense		(32,309)	(16,001)	(53,014)	(31,439)
Fair value changes in ABS securitizations			0		0
Gain / (Loss) on interest rate swaps and caps		150		188
Total other income (expense)		(21,905)	(12,445)	(34,406)	(24,313)
Income before taxes		56,428	6,824	117,806	18,468
Depreciation and amortization		1,758	694	3,001	1,335
Total assets		4,625,134	1,007,524	4,625,134	1,007,524
Servicing Segment
Revenues:
Servicing fee income		85,926	52,665	169,726	110,585
Other fee income		5,969	3,466	13,271	6,664
Total fee income		91,895	56,131	182,997	117,249
Gain/(loss) on mortgage loans held for sale		0	0	0	0
Total revenues		91,895	56,131	182,997	117,249
Total expenses and impairments		73,656	39,896	132,886	80,303
Other income (expense):
Interest income		5,237	655	9,862	1,622
Interest expense		(28,295)	(13,491)	(45,223)	(26,948)
Fair value changes in ABS securitizations			0		0
Gain / (Loss) on interest rate swaps and caps		150		188
Total other income (expense)		(22,908)	(12,836)	(35,173)	(25,326)
Income before taxes		(4,669)	3,399	14,938	11,620
Depreciation and amortization		1,238	396	2,098	768
Total assets		3,553,883	702,501	3,553,883	702,501
Originations Segment
Revenues:
Servicing fee income		0	0	0	0
Other fee income		5,739	3,825	5,720	7,869
Total fee income		5,739	3,825	5,720	7,869
Gain/(loss) on mortgage loans held for sale		102,335	22,911	172,835	43,480
Total revenues		108,074	26,736	178,555	51,349
Total expenses and impairments		47,980	23,702	76,454	45,514
Other income (expense):
Interest income		5,017	2,901	8,558	5,504
Interest expense		(4,014)	(2,510)	(7,791)	(4,491)
Fair value changes in ABS securitizations			0		0
Gain / (Loss) on interest rate swaps and caps		0		0
Total other income (expense)		1,003	391	767	1,013
Income before taxes		61,097	3,425	102,868	6,848
Depreciation and amortization		520	298	903	567
Total assets		1,071,251	305,023	1,071,251	305,023
Legacy Portfolio and Other
Revenues:
Servicing fee income		620	345	1,237	737
Other fee income		(98)	850	(128)	1,806
Total fee income		522	1,195	1,109	2,543
Gain/(loss) on mortgage loans held for sale		0	0	0	0
Total revenues		522	1,195	1,109	2,543
Total expenses and impairments		8,726	4,893	17,609	10,858
Other income (expense):
Interest income		4,942	11,397	9,750	24,321
Interest expense		(3,604)	(9,184)	(7,857)	(19,114)
Fair value changes in ABS securitizations			(3,613)		(6,265)
Gain / (Loss) on interest rate swaps and caps		(507)		(813)
Total other income (expense)		831	(1,400)	1,080	(1,058)
Income before taxes		(7,373)	(5,098)	(15,420)	(9,373)
Depreciation and amortization		96	114	384	225
Total assets		271,096	783,218	271,096	783,218
Eliminations
Revenues:
Servicing fee income		(454)	(1,774)	(921)	(3,598)
Other fee income			0		0
Total fee income		(454)	(1,774)	(921)	(3,598)
Gain/(loss) on mortgage loans held for sale		10	(89)	22	(152)
Total revenues		(444)	(1,863)	(899)	(3,750)
Total expenses and impairments		10	(89)	0	(152)
Other income (expense):
Interest income		454	1,774	921	3,598
Interest expense		0	0	(22)	0
Fair value changes in ABS securitizations			0		0
Gain / (Loss) on interest rate swaps and caps		0		0
Total other income (expense)		454	1,774	899	3,598
Income before taxes		0	0	0	0
Depreciation and amortization		0	0	0	0
Total assets		$ 0	$ 0	$ 0	$ 0

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Commitments and Contingencies - Loan and Other Commitments (Details) (Reverse Mortgages, USD $)	Jun. 30, 2012	Dec. 31, 2011
Reverse Mortgages
Mortgage Servicing Rights [Line Items]
Principal amount outstanding on loans managed and securitized	$ 27,200,000,000	$ 27,200,000,000
Unfunded advance obligations	$ 4,500,000,000

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Document and Entity Information	6 Months Ended
	Jun. 30, 2012	Aug. 14, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	Nationstar Mortgage Holdings Inc.
Entity Central Index Key	0001520566
Document Type	10-Q
Document Period End Date	Jun. 30, 2012
Amendment Flag	false
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Member units		89,166,667

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General and Administrative Expenses

6 Months Ended

Jun. 30, 2012

General and Administrative Expense [Abstract]

General and Administrative Expenses

General and Administrative Expenses

General and administrative expenses consist of the following for the dates indicated (in thousands):

	For the three months ended				For the six months ended
	June 30, 2012		June 30, 2011		June 30, 2012		June 30, 2011
Servicing	$	22,553	$	5,129	$	36,443	$	8,995
Legal and professional fees	9,465		1,541		14,567		4,637
Depreciation and amortization	1,854		808		3,385		1,560
Advertising	1,306		1,204		2,048		2,053
Equipment	1,771		1,086		3,119		1,994
Telecommunications	1,159		971		2,328		1,791
Postage	1,347		898		2,661		2,415
Stationary and supplies	1,059		949		2,053		1,951
Travel	1,884		818		2,705		1,512
Dues and fees	1,687		1,471		2,599		2,444
Insurance, taxes, and other	2,325		871		3,614		1,958
Total general and administrative expenses	$	46,410	$	15,746	$	75,522	$	31,310

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Income Taxes (Details) (USD $)	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2012	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011	Mar. 07, 2012
Income Tax Disclosure [Abstract]
Deferred tax asset						$ 70,800,000
Deferred tax liability						16,500,000
Valuation allowance on deferred tax asset						54,300,000
Income tax provision	3,100,000	12,780,000	0	15,925,000	0
Pretax income	$ 12,400,000	$ 49,055,000	$ 1,726,000	$ 102,386,000	$ 9,095,000

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Commitments and Contingencies - Lease Commitments (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012
Commitments and Contingencies Disclosure [Abstract]
2012	$ 6,103
2013	16,397
2014	14,212
2015	11,845
2016	8,450
Thereafter	12,113
Total	$ 69,120

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Unaudited Consolidated Statements of Operations and Comprehensive Income (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenues:
Servicing fee income	$ 86,092	$ 51,236	$ 170,042	$ 107,724
Other fee income	11,610	8,141	18,863	16,339
Total fee income	97,702	59,377	188,905	124,063
Gain on mortgage loans held for sale	102,345	22,822	172,857	43,328
Total revenues	200,047	82,199	361,762	167,391
Expenses and impairments:
Salaries, wages and benefits	78,747	48,372	140,412	95,295
General and administrative	46,410	15,746	75,522	31,310
Provision for loan losses	855	0	1,608	1,128
Loss on foreclosed real estate	1,490	2,099	3,755	4,346
Occupancy	2,870	2,185	5,652	4,444
Total expenses and impairments	130,372	68,402	226,949	136,523
Other income (expense):
Interest income	15,650	16,727	29,091	35,045
Interest expense	(35,913)	(25,185)	(60,893)	(50,553)
Loss on interest rate swaps and caps	(357)	0	(625)	0
Fair value changes in ABS securitizations	0	(3,613)	0	(6,265)
Total other income (expense)	(20,620)	(12,071)	(32,427)	(21,773)
Income before taxes	49,055	1,726	102,386	9,095
Income tax expense	12,780	0	15,925	0
Net income	36,275	1,726	86,461	9,095
Other comprehensive income, net of tax:
Change in value of designated cash flow hedge	(423)	(1,210)	(423)	(1,071)
Comprehensive income	$ 35,852	$ 516	$ 86,038	$ 8,024
Earnings per share:
Basic earnings per share (in dollars per share)	$ 0.41	$ 0.02	$ 1.06	$ 0.13
Diluted earnings per share (in dollars per share)	$ 0.41	$ 0.02	$ 1.05	$ 0.13
Weighted average shares:
Basic (shares)	88,500	70,000	81,444	70,000
Dilutive effect of stock awards (shares)	1,028	0	649	0
Diluted (shares)	89,528	70,000	82,093	70,000
Dividends declared per share (in dollars per share)	$ 0	$ 0	$ 0	$ 0

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Mortgage Loans Held for Sale and Investment

6 Months Ended

Jun. 30, 2012

Mortgage Loans Held for Sale and Investment [Abstract]

Mortgage Loans Held for Sale and Investment

Mortgage Loans Held for Sale and Investment

Mortgage loans held for sale

Nationstar maintains a strategy of originating mortgage loan products primarily for the purpose of selling to GSEs or other third party investors in the secondary market. Generally, all newly originated mortgage loans held for sale are delivered to third-party purchasers or securitized shortly after origination.

Nationstar has elected to measure newly originated prime residential mortgage loans held for sale at fair value, as permitted under ASC 825, Financial Instruments. Nationstar estimates fair value by evaluating a variety of market indicators, including recent trades and outstanding commitments, calculated on an aggregate basis (see Note 14 – Fair Value Measurements).

Mortgage loans held for sale consist of the following (in thousands):

	June 30, 2012		December 31, 2011
Mortgage loans held for sale – unpaid principal balance	$	796,888	$	442,596
Mark-to-market adjustment	41,018		16,030
Total mortgage loans held for sale	$	837,906	$	458,626

We had no mortgage loans held for sale on a nonaccrual status at June 30, 2012 or December 31, 2011.

A reconciliation of the changes in mortgage loans held for sale to the amounts presented in the consolidated statements of cash flows for the dates indicated is presented in the following table (in thousands):

For the six months ended June 30,	2012			2011
Mortgage loans held for sale – beginning balance	$	458,626		$	369,617
Mortgage loans originated and purchased, net of fees	2,996,372			1,378,039
Cost of loans sold, net of fees	(2,639,778		)	(1,490,814		)
Principal payments received on mortgage loans held for sale and other changes	24,188			4,465
Transfer of mortgage loans held for sale to held for investment	(1,502		)	(288		)
Mortgage loans held for sale – ending balance	$	837,906		$	261,019

Mortgage loans held for investment, subject to nonrecourse debt - legacy assets, net

Mortgage loans held for investment, subject to nonrecourse debt – legacy assets principally consist of nonconforming or subprime mortgage loans securitized which serve as collateral for the issued debt. These loans were transferred on October 1, 2009 from mortgage loans held for sale at fair value on the transfer date, as determined by the present value of expected future cash flows, with no valuation allowance recorded. The difference between the undiscounted cash flows expected and the investment in the loan is recognized as interest income on a level-yield method over the life of the loan. Contractually required payments for interest and principal that exceed the undiscounted cash flows expected at transfer are not recognized as a yield adjustment or as a loss accrual or a valuation allowance. Increases in expected cash flows subsequent to the transfer are recognized prospectively through adjustment of the yield on the loans over the remaining life. Decreases in expected cash flows subsequent to transfer are recognized as a valuation allowance.

An allowance for loan losses is established by recording a provision for loan losses in the consolidated statement of operations when management believes a loss has occurred on a loan held for investment. When management determines that a loan held for investment is partially or fully uncollectible, the estimated loss is charged against the allowance for loan losses. Recoveries on losses previously charged to the allowance are credited to the allowance at the time the recovery is collected.

Nationstar accounts for the loans that were transferred to held for investment from held for sale during October 2009 in a manner similar to ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality. At the date of transfer, management evaluated such loans to determine whether there was evidence of deterioration of credit quality since acquisition and if it was probable that Nationstar would be unable to collect all amounts due according to the loan’s contractual terms. The transferred loans were aggregated into separate pools of loans based on common risk characteristics (loan delinquency). Nationstar considers expected prepayments, and estimates the amount and timing of undiscounted expected principal, interest, and other cash flows for each aggregated pool of loans. The determination of expected cash flows utilizes internal inputs such as prepayment speeds and credit losses. These internal inputs require the use of judgment and can have a significant impact on the accretion of income and/or valuation allowance. Nationstar determines the excess of the pool’s scheduled contractual principal and contractual interest payments over all cash flows expected as of the transfer date as an amount that should not be accreted (nonaccretable difference). The remaining amount is accreted into interest income over the remaining life of the pool of loans (accretable yield).

Over the life of the transferred loans, management continues to estimate cash flows expected to be collected. Nationstar evaluates at the balance sheet date whether the present value of the loans determined using the effective interest rates has decreased, and if so, records an allowance for loan loss. The present value of any subsequent increase in the transferred loans cash flows expected to be collected is used first to reverse any existing allowance for loan loss related to such loans. Any remaining increase in cash flows expected to be collected are used to adjust the amount of accretable yield recognized on a prospective basis over the remaining life of the loans.

Nationstar accounts for its allowance for loan losses for all other mortgage loans held for investment in accordance with ASC 450-20, Loss Contingencies. The allowance for loan losses represents management’s best estimate of probable losses inherent in the loans held for investment portfolio. Mortgage loans held for investment portfolio is comprised primarily of large groups of homogeneous residential mortgage loans. These loans are evaluated based on the loan’s present delinquency status. The entire allowance is available to absorb probable credit losses from the entire held for investment portfolio.

Mortgage loans held for investment, subject to nonrecourse debt—legacy assets, net as of the dates indicated include (in thousands):

	June 30, 2012		December 31, 2011
Mortgage loans held for investment, subject to nonrecourse debt - legacy assets, net – unpaid principal balance	$	365,258	$	375,720
Transfer discount
Accretable	(22,193)		(22,392		)
Non-accretable	(98,791)		(104,024		)
Allowance for loan losses	(6,101)		(5,824		)
Total mortgage loans held for investment, subject to nonrecourse debt -legacy assets, net	$	238,173	$	243,480

The changes in accretable yield on loans transferred to mortgage loans held for investment, subject to nonrecourse debt- legacy assets were as follows (in thousands):

	Six months ended June 30, 2012			Year ended December 31,2011
Accretable Yield
Balance at the beginning of the period	$	22,392		$	25,219
Additions	—			—
Accretion	(1,886		)	(4,131		)
Reclassifications from (to) nonaccretable discount	1,687			1,304
Disposals	—			—
Balance at the end of the period	$	22,193		$	22,392

Nationstar may periodically modify the terms of any outstanding mortgage loans held for investment, subject to nonrecourse debt-legacy assets, net for loans that are either in default or in imminent default. Modifications often involve reduced payments by borrowers, modification of the original terms of the mortgage loans, forgiveness of debt and/or increased servicing advances. As a result of the volume of modification agreements entered into, the estimated average outstanding life in this pool of mortgage loans has been extended. Nationstar records interest income on the transferred loans on a level-yield method. To maintain a level-yield on these transferred loans over the estimated extended life, Nationstar reclassified approximately $0.5 million for the three months ended June 30, 2012, $1.7 million for the six months ended June 30, 2012, and $1.3 million for the year ended December 31, 2011 from nonaccretable difference. Furthermore, Nationstar considers the decrease in principal, interest, and other cash flows expected to be collected arising from the transferred loans as an impairment, and Nationstar recorded provisions for loan losses of $0.9 million for the three months ended June 30, 2012 on the transferred loans to reflect this impairment. There were no additional provision required for the three months period ended June 30, 2011. Nationstar recorded provisions for loan losses of $1.1 million for the six months ended June 30, 2011, and $1.6 million for the six months ended June 30, 2012 on the transferred loans to reflect this impairment.

Nationstar collectively evaluates all mortgage loans held for investment, subject to nonrecourse debt-legacy assets for impairment. The changes in the allowance for loan losses on mortgage loans held for investment, subject to nonrecourse debt-legacy assets, net were as follows (in thousands) for the dates indicated:

	Six months ended June 30, 2012
	Performing			Non-Performing			Total
Balance at the beginning of the period	$	1,641		$	4,183		$	5,824
Provision for loan losses	1,876			(268		)	1,608
Recoveries on loans previously charged-off	—			—			—
Charge-offs	(978		)	(353		)	(1,331		)
Balance at the end of the period	$	2,539		$	3,562		$	6,101
Ending balance – collectively evaluated for impairment	$	294,527		$	70,731		$	365,258

	Year ended December 31,2011
	Performing			Non-Performing			Total
Balance at the beginning of the period	$	829		$	2,469		$	3,298
Provision for loan losses	1,346			2,191			3,537
Recoveries on loans previously charged-off	—			—			—
Charge-offs	(534		)	(477		)	(1,011		)
Balance at the end of the period	$	1,641		$	4,183		$	5,824
Ending balance – Collectively evaluated for impairment	$	283,770		$	91,950		$	375,720

Loan delinquency and loan-to-value ratio (LTV) are common credit quality indicators that Nationstar monitors and utilizes in its evaluation of the adequacy of the allowance for loan losses, of which the primary indicator of credit quality is loan delinquency. LTV refers to the ratio of comparing the loan’s unpaid principal balance to the property’s collateral value. Loan delinquencies and unpaid principal balances are updated monthly based upon collection activity. Collateral values are updated from third-party providers on a periodic basis. For an event requiring a decision based at least in part on the collateral value, Nationstar takes its last known value provided by a third party and then adjusts the value based on the applicable home price index.

The following tables provide the outstanding unpaid principal balance of Nationstar’s mortgage loans held for investment by credit quality indicators as of dates indicated.

	June 30, 2012		December 31, 2011
	(in thousands)
Credit Quality by Delinquency Status
Performing	$	294,527	$	283,770
Non-Performing	70,731		91,950
Total	$	365,258	$	375,720
Credit Quality by Loan-to-Value Ratio
Less than 60	$	40,213	$	42,438
Less than 70 and more than 60	14,637		15,968
Less than 80 and more than 70	22,472		25,190
Less than 90 and more than 80	28,169		32,620
Less than 100 and more than 90	35,844		33,708
Greater than 100	223,923		225,796
Total	$	365,258	$	375,720

Performing loans refer to loans that are less than 90 days delinquent. Non-performing loans refer to loans that are greater than 90 days delinquent.

Reverse mortgage interests

Reverse mortgage interests consists of fees paid to taxing authorities for borrowers’ unpaid taxes and insurance, and payments made to borrowers for line of credit draws on the reverse mortgages. These advances include due and payable advances, which are recovered upon the sale of the subject property, and defaulted advances that can be securitized and sold. As of June 30, 2012, Nationstar had $310.1 million in outstanding reverse mortgage interests.

Nationstar accounts for outstanding and future reverse mortgage interests as financing receivables in accordance with ASC 310, Receivables. Interest and other unpaid taxes and fees are accrued monthly and capitalized as part of the outstanding advance balance. When Nationstar determines that a loss on the advance balance is probable and that the carrying balance may be partially or fully uncollectible, an allowance for loan loss is established by recording a provision for loan losses in the consolidated statement of operations.

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Accounts Receivable

6 Months Ended

Jun. 30, 2012

Receivables [Abstract]

Accounts Receivable

Accounts Receivable

Accounts receivable consist primarily of accrued interest receivable on mortgage loans and securitizations, accrued servicing fees, and advances made to unconsolidated securitization trusts, as required under various servicing agreements related to delinquent loans, which are ultimately paid back to Nationstar from such trusts.

Accounts receivable consist of the following (in thousands):

	June 30, 2012		December 31, 2011
Delinquent interest advances	$	1,286,525	$	213,737
Corporate and escrow advances	1,028,722		299,946
Insurance deposits	1,750		1,750
Accrued interest	3,449		1,512
Receivables from trusts	16,920		4,664
Accrued servicing fees	95,632		20,865
Other	54,993		19,826
Total accounts receivable	$	2,487,991	$	562,300

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Capital Requirements

6 Months Ended

Jun. 30, 2012

Mortgage Banking [Abstract]

Capital Requirements

Capital Requirements

Certain of Nationstar’s secondary market investors require various capital adequacy requirements, as specified in the respective selling and servicing agreements. To the extent that these mandatory, imposed capital requirements are not met, Nationstar’s secondary market investors may ultimately terminate Nationstar’s selling and servicing agreements, which would prohibit Nationstar from further originating or securitizing these specific types of mortgage loans. In addition, these secondary market investors may impose additional net worth or financial condition requirements based on an assessment of market conditions or other relevant factors.

Among Nationstar’s various capital requirements related to its outstanding selling and servicing agreements, the most restrictive of these requires Nationstar to maintain a minimum adjusted net worth balance of $293.8 million. As of June 30, 2012, Nationstar was in compliance with all of its selling and servicing capital requirements.

Additionally, Nationstar is required to maintain a minimum tangible net worth of at least $175.0 million as of each quarter-end related to its outstanding Master Repurchase Agreements on its outstanding repurchase facilities. As of June 30, 2012, Nationstar was in compliance with these minimum tangible net worth requirements.

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Income Taxes

6 Months Ended

Jun. 30, 2012

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The financial statements through December 31, 2011 and for the period January 1, 2012 up to Reorganization do not include income tax expense or benefit or any current or deferred income tax assets or liabilities. Nationstar Inc.'s corporate subsidiaries were subject to income taxes prior to the Reorganization, however, income tax expense (primarily state) and related tax liabilities were not material for presentation purposes.

As a result of the Reorganization, Nationstar Inc. and its subsidiaries, including Nationstar, became a new corporate consolidated group for income tax purposes. As a result of the change in income tax status, the Company is required to record deferred taxes on the difference between book and tax bases in assets and liabilities as of the Reorganization date. The net deferred tax asset or liability is recorded through the consolidated statement of operations as a component of income tax expense. As of the Reorganization date, the Company recorded a $70.8 million deferred tax asset for net operating and other loss carryforwards inherited as a result of the Reorganization, and a $16.5 million deferred tax liability related to basis differences in Nationstar's assets and liabilities. In addition, the Company recorded a $54.3 million valuation allowance for deferred tax assets that management concluded will likely not be realized.

The Company recorded an income tax provision of $12.8 million on pretax income for the three months ended June 30, 2012. For the six months ended June 30, 2012, income tax expense was $15.9 million. The Company recorded an income tax provision of $3.1 million on pretax income of $12.4 million earned from the Reorganization date through March 31, 2012.

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Fair Value Measurements - Measured on a Nonrecurring Basis (Details) (Fair Value, Measurements, Nonrecurring, USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2012		Jun. 30, 2012		Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Gains (Losses) Included in Earnings	$ (1,490)		$ (3,755)		$ (6,833)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
REO	0	[1]	0	[1]	0	[1]
Total assets	0		0		0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
REO	0	[1]	0	[1]	0	[1]
Total assets	0		0		0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
REO	3,429	[1]	3,429	[1]	3,668	[1]
Total assets	3,429		3,429		3,668
Total Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
REO	3,429	[1]	3,429	[1]	3,668	[1]
Total assets	3,429		3,429		3,668
Real Estate Owned
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Gains (Losses) Included in Earnings	$ (1,490)	[1]	$ (3,755)	[1]	$ (6,833)	[1]

[1] Based on the nature and risks of these assets and liabilities, the Company has determined that presenting them as a single class is appropriate.

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Payables and Accrued Liabilities

6 Months Ended

Jun. 30, 2012

Payables and Accruals [Abstract]

Payables and Accrued Liabilities

Payables and Accrued Liabilities

Payables and accrued liabilities consist of the following (in thousands):

	June 30, 2012		December 31, 2011
Payables to securitization trusts	$	10,250	$	10,665
Loans subject to repurchase from Ginnie Mae	46,130		35,735
Cancelled lease reserves	7,810		9,160
Legal and professional fees	9,345		5,931
MSR purchases payable	169,265		8,204
Accrued bonus and payroll	23,864		21,236
Accrued interest	18,715		10,225
Mortgage insurance premiums and reserves	58,604		19,162
Government sponsored entities	43,499		18,728
Repurchase reserves	12,424		10,026
Deposit from MSR co-investor for ResCap	25,200		—
Reverse mortgage payables	95,823		—
Originations closed not funded	51,626		—
Taxes	12,790		154
Other	54,494		34,563
Total payables and accrued liabilities	$	639,839	$	183,789

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Mortgage Servicing Rights - Fair Value Assumptions (Details)	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Assumption for Fair Value of Mortgage Servicing Rights
Classes of MSRs serviced for others	2
Mortgage Servicing Rights | Credit Sensitive
Assumption for Fair Value of Mortgage Servicing Rights
Discount rate	17.93%	25.71%
Total prepayment speeds	20.09%	15.80%
Expected weighted-average life	4 years 9 months 15 days	5 years 1 month 24 days
Credit losses	25.09%	35.42%
Mortgage Servicing Rights | Interest Rate Sensitive
Assumption for Fair Value of Mortgage Servicing Rights
Discount rate	10.65%	10.46%
Total prepayment speeds	18.03%	19.02%
Expected weighted-average life	4 years 10 months 28 days	5 years 15 days
Credit losses	10.22%	9.73%

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Mortgage Servicing Rights (MSRs)

6 Months Ended

Jun. 30, 2012

Transfers and Servicing [Abstract]

Mortgage Servicing Rights (MSRs)

Mortgage Servicing Rights (MSRs)

MSRs at fair value

Nationstar recognizes MSRs related to all existing residential mortgage loans transferred to a third party in a transfer that meets the requirements for sale accounting and for which the servicing rights are retained. Additionally, Nationstar may acquire the rights to service residential mortgage loans that do not relate to assets transferred by Nationstar through the purchase of these rights from third parties.

Nationstar identifies MSRs related to all existing forward residential mortgage loans transferred to a third party in a transfer that meets the requirements for sale accounting or through the acquisition of rights to service forward residential mortgage loans that do not relate to assets transferred by Nationstar through the purchase of these rights from third parties as a class of MSR. Nationstar applies fair value accounting to this class of MSRs, with all changes in fair value recorded as charges or credits to servicing fee income in accordance with ASC 860-50, Servicing Assets and Liabilities.

MSRs arise from contractual agreements between Nationstar and investors in mortgage securities and mortgage loans. Nationstar records MSR assets when it sells loans on a servicing-retained basis, at the time of securitization or through the acquisition or assumption of the right to service a financial asset. Under these contracts, Nationstar performs loan servicing functions in exchange for fees and other remuneration.

The fair value of the MSRs is based upon the present value of the expected future cash flows related to servicing these loans. Nationstar receives a base servicing fee ranging from 0.25% to 0.50% annually on the remaining outstanding principal balances of the loans. The servicing fees are collected from investors. Nationstar determines the fair value of the MSRs by the use of a cash flow model that incorporates prepayment speeds, discount rate, and other assumptions (including servicing costs) that management believes are consistent with the assumptions other major market participants use in valuing the MSRs. Certain of the forward loans underlying the MSRs are prime agency and government conforming residential forward mortgage loans and as such are more interest rate sensitive whereas the remaining MSRs are more credit sensitive. The nature of the forward loans underlying the MSRs affects the assumptions that management believes other major market participants use in valuing the MSRs. Nationstar obtains third-party valuations for a portion of its MSRs to assess the reasonableness of the fair value calculated by the cash flow model.

Certain of the forward loans underlying the mortgage servicing rights carried at fair value that are owned by Nationstar are credit sensitive in nature and the value of these mortgage servicing rights are more likely to be affected from changes in credit losses than from interest rate movement. The remaining forward loans underlying Nationstar’s MSRs held at fair value are prime agency and government conforming residential mortgage loans for which the value of these MSRs are more likely to be affected from interest rate movement than changes in credit losses.

Nationstar used the following weighted average assumptions in estimating the fair value of MSRs for the dates indicated:

Credit Sensitive MSRs	June 30, 2012		December 31, 2011
Discount rate	17.93	%	25.71	%
Total prepayment speeds	20.09	%	15.80	%
Expected weighted-average life	4.79 years		5.15 years
Credit losses	25.09	%	35.42	%
Interest Rate Sensitive MSRs	June 30, 2012		December 31, 2011
Discount rate	10.65	%	10.46	%
Total prepayment speeds	18.03	%	19.02	%
Expected weighted-average life	4.91 years		5.04 years
Credit losses	10.22	%	9.73	%

The activity of MSRs carried at fair value is as follows for the dates indicated (in thousands):

	Six months ended June 30, 2012			Year ended December 31,2011
Fair value at the beginning of the period	$	251,050		$	145,062
Additions:
Servicing resulting from transfers of financial assets	24,128			36,474
Recognition of servicing assets from derecognition of variable interest entities	—			5,714
Purchases of servicing assets	341,664			102,800
Changes in fair value:
Due to changes in valuation inputs or assumptions used in the valuation model	(1,686		)	(14,207		)
Other changes in fair value	(18,694		)	(24,793		)
Fair value at the end of the period	$	596,462		$	251,050
Unpaid principal balance of forward loans serviced for others
Originated or purchased mortgage loans
Credit sensitive loans	$	102,335,034		$	32,408,623
Interest sensitive loans	14,779,772			11,844,831
Total owned loans	$	117,114,806		$	44,253,454

The following table shows the hypothetical effect on the fair value of the MSRs using various unfavorable variations of the expected levels of certain key assumptions used in valuing these assets at June 30, 2012 and December 31, 2011 (in thousands):

	Discount Rate						Total Prepayment Speeds						Credit Losses
	100 bps Adverse Change			200 bps Adverse Change			10% Adverse Change			20% Adverse Change			10% Adverse Change			20% Adverse Change
June 30, 2012
Mortgage servicing rights	$	(18,914	)	$	(36,648	)	$	(68,006	)	$	(137,411	)	$	(51,448	)	$	(107,296	)
December 31, 2011
Mortgage servicing rights	$	(6,640	)	$	(12,929	)	$	(13,281	)	$	(25,215	)	$	(5,081	)	$	(10,944	)

These sensitivities are hypothetical and should be evaluated with care. The effect on fair value of a 10% variation in assumptions generally cannot be determined because the relationship of the change in assumptions to the fair value may not be linear. Additionally, the impact of a variation in a particular assumption on the fair value is calculated while holding other assumptions constant. In reality, changes in one factor may lead to changes in other factors (e.g., a decrease in total prepayment speeds may result in an increase in credit losses), which could impact the above hypothetical effects.

MSRs at amortized cost

Additionally, Nationstar has acquired servicing rights for reverse mortgage loans. For this class of servicing rights, Nationstar applies the amortization method (i.e., lower of cost or market) with the capitalized cost of the MSRs amortized in proportion and over the period of the estimated net future servicing income and recognized as an adjustment to servicing fee income. The expected period of the estimated net servicing income is based, in part, on the expected prepayment period of the underlying reverse mortgages. This class of MSRs is periodically evaluated for impairment. For purposes of measuring impairment, MSRs are stratified based on predominant risk characteristics of the underlying serviced loans. These risk characteristics include loan type (fixed or adjustable rate), term and interest rate. Impairment, if any, represents the excess of amortized cost of an individual stratum over its estimated fair value and is recognized through a valuation allowance.

As of June 30, 2012, Nationstar owns the right to service certain reverse mortgage MSRs with an unpaid principal balance of $27.2 billion. The initial carrying amount of these MSRs is based on the relative fair value of the purchased assets and liabilities including reverse mortgage interests. These MSRs are subsequently accounted for using the amortization method. Amortization / accretion is recorded as service fee income on the statement of operations and comprehensive income. Nationstar utilizes a variety of assumptions in assessing the fair value of its servicing assets or liabilities, with the primary assumptions including discount rates and the expected weighted average life. At June 30, 2012, no impairment was identified.

The activity of MSRs carried at amortized cost is as follows for the date indicated (in thousands):

	Six months Ended
	June 30, 2012
	Assets			Liabilities
Activity of MSRs at amortized cost
Balance at the beginning of the period	$	—		$	—
Additions:
Purchase /Assumptions of servicing rights/obligations	9,000			83,246
Deductions:
Amortization/Accretion	(643		)	(1,267		)
Balance at end of the period	$	8,357		$	81,979

Subserviced loans

In addition to the two classes of MSRs that Nationstar services for others, Nationstar also subservices loans on behalf of owners of MSRs or loans for a fee. Nationstar has no recorded value for its subservicing arrangements. At June 30, 2012 and December 31, 2011, the unpaid principal balances under subservicing arrangements were $47.6 billion and $53.7 billion, respectively.

Total servicing and ancillary fees from Nationstar’s servicing portfolio of residential mortgage loans are presented in the following table for the periods indicated (in thousands):

	For the three months ended June 30				For the six months ended June 30
	2012		2011		2012		2011
Servicing fees	$	65,769	$	42,060	$	127,973	$	85,197
Ancillary fees	23,573		18,719		49,538		37,076
Total servicing and ancillary fees	$	89,342	$	60,779	$	177,511	$	122,273

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Other Assets

6 Months Ended

Jun. 30, 2012

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

Other Assets

Other assets consisted of the following (in thousands):

	June 30, 2012		December 31, 2011
Interest rate locks	$	53,193	$	11,302
Deferred financing costs	26,995		12,059
Deposit in escrow for ResCap acquisition	72,000		—
Deposits pending on mortgage servicing rights acquisitions	1,770		28,904
Loans subject to repurchase right from Ginnie Mae	46,130		35,735
Equity method investment	9,727		6,493
Margin call deposits	7,325		4,518
Prepaid expenses	3,176		4,286
Unsecured loans	1,818		1,827
Other	4,127		1,057
Total other assets	$	226,261	$	106,181

In conjunction with Nationstar's definitive agreement to acquire certain assets from Residential Capital, LLC (see Note 23), Nationstar was required to place in escrow $72.0 million toward the purchase price. Also, as a part of the transaction, Newcastle Investment Corp. (Newcastle) remitted $25.2 million to Nationstar toward the escrow payment. Such amount has been recorded in payables and accrued liabilities in the Company's consolidated balance sheet and would be repaid to Newcastle in the event that the agreement is not consummated.

Deposits pending on mortgage servicing rights acquisitions primarily consist of amounts transferred to third parties for the future acquisition of mortgage servicing. In December 2011, Nationstar entered into an agreement with a financial institution to acquire the rights to service reverse mortgages with an unpaid principal balance of approximately $9.5 billion, of which the underlying reserve mortgages are currently owned by an unaffiliated GSE. The purchase of these servicing rights was completed upon the approval of the GSE which was received in June 2012. Upon execution of the purchase, Nationstar assumed responsibility for advance obligations on the underlying reverse mortgage loans. Nationstar paid $9.0 million for the purchase of these servicing rights which had previously been deposited with the financial institution. Also, as of December 31, 2011, Nationstar had placed in escrow $17.9 million relating to the purchase of the mortgage servicing rights and related outstanding advance balances with the same financial institution. Such purchase was completed in January 2012 and these escrow amounts were released. In addition, Nationstar has entered into separate agreements to purchase forward mortgage servicing rights. These amounts are carried as deposits on acquired servicing rights acquisitions until the underlying forward residential mortgage loan balances are transferred to Nationstar. Nationstar has deposited with a counterparty for servicing rights on forward mortgages for $1.8 million as of June 30, 2012 that are expected to be originated and transferred to Nationstar during the third quarter of 2012, and $2.0 million as of December 31, 2011 that were originated and transferred to Nationstar during the first quarter of 2012.

For certain loans sold to GNMA (Ginnie Mae), Nationstar as the servicer has the unilateral right to repurchase without Ginnie Mae’s prior authorization any individual loan in a Ginnie Mae securitization pool if that loan meets certain criteria, including being delinquent greater than 90 days. Once Nationstar has the unilateral right to repurchase the delinquent loan, Nationstar has effectively regained control over the loan, and under GAAP, must re-recognize the loan on its balance sheet and establish a corresponding repurchase liability regardless of Nationstar’s intention to repurchase the loan. Nationstar’s re-recognized loans included in other assets and the corresponding liability in payables and accrued liabilities was $46.1 million at June 30, 2012 and $35.7 million at December 31, 2011.

In March 2011, Nationstar acquired a 22% interest in ANC Acquisition LLC (ANC) for an initial investment of $6.6 million. ANC is the parent company of National Real Estate Information Services, LP (NREIS) a real estate services company. In March 2012 FIF contributed its 13% investment in ANC to Nationstar, increasing the overall investment to 35%. As Nationstar is able to exercise significant influence, but not control, over the policies and procedures of the entity, and Nationstar owns less than 50% of the voting interests, Nationstar applies the equity method of accounting. NREIS, an ancillary real estate services and vendor management company, offers comprehensive settlement and property valuation services for both originations and default management channels. Direct or indirect product offerings include title insurance agency, tax searches, flood certification, default valuations, full appraisals and broker price opinions.

A summary of the assets, liabilities, and operations of ANC as of the following periods are presented in the following tables (in thousands):

							June 30, 2012			December 31, 2011
ASSETS
Cash							$	3,100		$	2,486
Accounts receivable							2,675			5,296
Receivables from affiliates							257			92
Equity method investments							2,881			2,788
Property and equipment, net							2,044			1,995
Goodwill and other intangible assets							33,796			33,876
Other assets							488			590
Total assets							$	45,241		$	47,123
LIABILITIES
Notes payable							$	4,724		$	4,724
Payables and accrued liabilities							13,882			13,236
Total liabilities							$	18,606		$	17,960
	Three months ended June 30,						Six months ended June 30,
	2012			2011			2012			2011
REVENUES
Sales	$	13,083		$	12,201		$	28,379		$	12,201
Cost of sales	(10,080		)	(10,722		)	(21,431		)	(10,722		)
Net sales revenues	3,003			1,479			6,948			1,479
OTHER INCOME/(EXPENSE)
Operating costs	(4,559		)	(3,951		)	(9,062		)	(3,951		)
Income from equity method investments	552			405			1,255			405
Depreciation and amortization	(373		)	(219		)	(761		)	(219		)
Other income/(expense)	(39		)	(53		)	(69		)	(53		)
Loss from discontinued operations	(12		)	(27		)	(35		)	(27		)
Total other income/(expense)	(4,431		)	(3,845		)	(8,672		)	(3,845		)
Net loss	$	(1,428	)	$	(2,366	)	$	(1,724	)	$	(2,366	)

Nationstar recorded a net charge to earnings related to loss on equity method investments of $0.5 million and $0.6 millionfor the three and six months endedJune 30, 2012, respectively, and a $0.5 million loss related to the three and six months endedJune 30, 2011, which is included as a component of other fee income in Nationstar’s consolidated statement of operations.

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Derivative Financial Instruments

6 Months Ended

Jun. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Derivative Financial Instruments

Nationstar enters into interest rate lock commitments (IRLCs) with prospective borrowers. These commitments are carried at fair value in accordance with ASC 815, Derivatives and Hedging. ASC 815 clarifies that the expected net future cash flows related to the associated servicing of a loan should be included in the measurement of all written loan commitments that are accounted for at fair value through earnings. The estimated fair values of IRLCs are based on quoted market values and are recorded in other assets in the consolidated balance sheets. The initial and subsequent changes in the value of IRLCs are a component of gain on mortgage loans held for sale.

Nationstar actively manages the risk profiles of its IRLCs and mortgage loans held for sale on a daily basis. To manage the price risk associated with IRLCs, Nationstar enters into forward sales of MBS in an amount equal to the portion of the IRLC expected to close, assuming no change in mortgage interest rates. In addition, to manage the interest rate risk associated with mortgage loans held for sale, Nationstar enters into forward sales of MBS to deliver mortgage loan inventory to investors. The estimated fair values of forward sales of MBS and forward sale commitments are based on quoted market values and are recorded as a component of other assets and mortgage loans held for sale, respectively, in the consolidated balance sheets. The initial and subsequent changes in value on forward sales of MBS and forward sale commitments are a component of gain on mortgage loans held for sale.

Periodically, Nationstar enters into interest rate swap agreements to hedge the interest payment on the warehouse debt. These interest rate swap agreements generally require Nationstar to pay a fixed interest rate and receive a variable interest rate based on LIBOR. Unless designated as an accounting hedge, Nationstar records losses on interest rate swaps as a component of gain/(loss) on interest rate swaps and caps in Nationstar’s consolidated statements of operations. Unrealized losses on undesignated interest rate derivatives are separately disclosed under operating activities in the consolidated statements of cash flows. Interest rate swaps designated as cash flow hedges under ASC 815 are recorded at fair value on the Company’s consolidated balance sheet, with any changes in fair value related to the effective portion of the hedge being recorded as an adjustment to other comprehensive income. To qualify as a cash flow hedge, the hedge must be highly effective at reducing the risk associated with the exposure being hedged and must be formally designated at hedge inception. Nationstar considers a hedge to be highly effective if the change in fair value of the derivative hedging instrument is within 80% to 125% of the change in the fair value of the hedged item attributable to the hedged risk. Ineffective portions of the cash flow hedge are reflected in earnings as they occur as a component of interest expense.

During 2008, Nationstar entered into interest rate cap agreements to hedge the interest payment on the servicing advance facility. These interest rate cap agreements generally require an upfront payment and receive cash flow only when a variable rate based on LIBOR exceeds a defined interest rate. These interest rate cap agreements are not designated as hedging instruments, and unrealized gains and losses are recorded in loss on interest rate swaps and caps in Nationstar’s consolidated statements of operations.

In conjunction with the Reorganization, FIF contributed outstanding interest rate swaps in March 2012 to Nationstar. These interest rate swaps on ABS debt generally require Nationstar to pay a fixed interest rate and receive a variable interest rate based on LIBOR. The outstanding interest rate swaps have not been designated as accounting hedges during the six months ended June 30, 2012. Any changes in fair value are recorded as a component of gains or losses on interest rate swaps and caps in Nationstar’s consolidated statement of operations.

The following table shows the effect of derivative financial instruments that were designated as accounting hedges for the three and six months ended June 30, 2012 and 2011.

The Effect of Derivative Instruments on the Statement of Operations

(in thousands)

Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of  Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)
For the three months ended June 30, 2012
Interest Rate Swap	$	(423	)	Interest Expense	$	—	Interest Expense	$	—
For the three months ended June 30, 2011
Interest Rate Swap	$	(1,210	)	Interest Expense	$	336	Interest Expense	$	514
For the six months ended June 30, 2012
Interest Rate Swap	$	(423	)	Interest Expense	$	—	Interest Expense	$	—
For the six months ended June 30, 2011
Interest Rate Swap	$	(1,071	)	Interest Expense	$	582	Interest Expense	$	1,416

As of June 30, 2012, there was no credit risk related to contingent features in any of the Company's derivative agreements.

The following tables provide the outstanding notional balances and fair values of outstanding positions for the dates indicated, and recorded gains/(losses) during the periods indicated (in thousands):

	Expiration Dates	Outstanding Notional		Fair Value		Recorded Gains / (Losses)
For the six months ended June 30, 2012
MORTGAGE LOANS HELD FOR SALE
Loan sale commitments	2012	$	7,782	$	306	$	(328	)
OTHER ASSETS
IRLCs	2012	2,443,489		53,193		41,891
LIABILITIES
Interest rate swaps and caps	2012-2015	675,124		6,778		188
Interest rate swaps on ABS debt (1)	2012-2017	963,973		1,243		(813		)
Forward MBS trades	2012	2,154,800		10,890		(5,060		)
Year ended December 31,2011
MORTGAGE LOANS HELD FOR SALE
Loan sale commitments	2012	$	28,047	$	634	$	592
OTHER ASSETS
IRLCs	2012	736,377		11,302		6,598
LIABILITIES
Interest rate swaps and caps	2012-2015	193,500		6,540		1,261
Forward MBS trades	2012	691,725		5,830		(9,792		)
Interest rate swap, subject to ABS nonrecourse debt (2)	—	—		—		(8,058		)

(1) In March 2012, Nationstar received interest rate swaps from FIF as a part of the reorganization.

(2) In December 2011, Nationstar sold its remaining variable interest in a securitization trust that had been a consolidated VIE since January 1, 2010 and deconsolidated the VIE. Upon deconsolidation of this VIE, Nationstar derecognized the related ABS nonrecourse debt and therefore the underlying interest rate swap, subject to ABS nonrecourse debt.

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Mortgage Servicing Rights - Subserviced Loans (Details) (USD $) In Thousands, unless otherwise specified			3 Months Ended		6 Months Ended
	Jun. 30, 2012 Loan Subservicing Agreement	Dec. 31, 2011 Loan Subservicing Agreement	Jun. 30, 2012 Residential Mortgage	Jun. 30, 2011 Residential Mortgage	Jun. 30, 2012 Residential Mortgage	Jun. 30, 2011 Residential Mortgage
Subserviced Loans [Line Items]
Principal amount outstanding on loans managed and securitized	$ 47,600,000	$ 53,700,000
Servicing and ancillary fees
Servicing fees			65,769	42,060	127,973	85,197
Ancillary fees			23,573	18,719	49,538	37,076
Total servicing and ancillary fees			$ 89,342	$ 60,779	$ 177,511	$ 122,273

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Fair Value Measurements - Fair Value by Balance Sheet Line Item (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Financial assets:
Derivative instruments	$ 53,193	$ 11,302
Financial liabilities:
Excess spread financing at fair value	266,693	44,595
Level 1
Financial assets:
Cash and cash equivalents	15,892	62,445
Restricted cash	119,512	71,499
Mortgages loans held for sale	0	0
Mortgage loans held for investment, subject to nonrecourse debt - Legacy assets	0	0
Reverse mortgage interests	0
Derivative instruments	0	0
Financial liabilities:
Notes payable	0	0
Unsecured senior notes	599,842	282,150
Derivative financial instruments	0	0
Nonrecourse debt - Legacy assets	0	0
Excess spread financing at fair value	0	0
Participating interest financing	0
Level 2
Financial assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Mortgages loans held for sale	837,906	458,626
Mortgage loans held for investment, subject to nonrecourse debt - Legacy assets	0	0
Reverse mortgage interests	310,074
Derivative instruments	53,193	11,302
Financial liabilities:
Notes payable	0	0
Unsecured senior notes	0	0
Derivative financial instruments	18,911	12,370
Nonrecourse debt - Legacy assets	0	0
Excess spread financing at fair value	0	0
Participating interest financing	181,114
Level 3
Financial assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Mortgages loans held for sale	0	0
Mortgage loans held for investment, subject to nonrecourse debt - Legacy assets	229,010	226,890
Reverse mortgage interests	0
Derivative instruments	0	0
Financial liabilities:
Notes payable	2,412,364	873,179
Unsecured senior notes	0	0
Derivative financial instruments	0	0
Nonrecourse debt - Legacy assets	107,640	114,037
Excess spread financing at fair value	266,693	44,595
Participating interest financing	0
Carrying Amount
Financial assets:
Cash and cash equivalents	15,892	62,445
Restricted cash	119,512	71,499
Mortgages loans held for sale	837,906	458,626
Mortgage loans held for investment, subject to nonrecourse debt - Legacy assets	238,173	243,480
Reverse mortgage interests	310,074
Derivative instruments	53,193	11,302
Financial liabilities:
Notes payable	2,412,364	873,179
Unsecured senior notes	555,938	280,199
Derivative financial instruments	18,911	12,370
Nonrecourse debt - Legacy assets	106,271	112,490
Excess spread financing at fair value	266,693	44,595
Participating interest financing	$ 181,114

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Other Assets - Mortgage Servicing Rights (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended		1 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012 Reverse Mortgages	Jun. 30, 2012 Mortgage Servicing Rights	Dec. 31, 2011 Mortgage Servicing Rights	Dec. 31, 2011 Mortgage Servicing Rights Reverse Mortgages	Jun. 30, 2012 Mortgage Servicing Rights Forward Mortgages	Dec. 31, 2011 Mortgage Servicing Rights Forward Mortgages	Jun. 30, 2012 GNMA	Dec. 31, 2011 GNMA	Jun. 30, 2012 Pending Acquisition	Jun. 30, 2012 Pending Acquisition Mortgage Servicing Rights	Dec. 31, 2011 Pending Acquisition Mortgage Servicing Rights
Mortgaging Servicing Rights
Deposit for acquisition				$ 1,770	$ 28,904	$ 17,900	$ 1,770	$ 2,000				$ 72,000	$ 0
Loans subject to repurchase right from Ginnie Mae									46,130	35,735
Deposit from MSR co-investor for ResCap											25,200
Principal amount outstanding on loans managed and securitized				117,114,806	44,253,454	9,500,000
Payments to Acquire Mortgage Servicing Rights (MSR)	$ 1,979,836	$ 232	$ 9,000

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Mortgage Servicing Rights - MSR's at Amortized Cost (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Dec. 31, 2011
Servicing Asset at Amortized Value, Balance [Roll Forward]
Balance at the beginning of the period		$ 0
Balance at the end of the period	8,357	0
Servicing Liability at Amortized Value [Roll Forward]
Balance at the beginning of the period		0
Balance at the end of the period	81,979	0
Mortgage Servicing Rights
Servicing Assets at Amortized Value
Principal amount outstanding on loans managed and securitized	117,114,806	44,253,454
Servicing Asset at Amortized Value, Balance [Roll Forward]
Balance at the beginning of the period	0
Purchase/Assumptions of servicing rights/obligations	9,000
Amortization/Accretion	(643)
Balance at the end of the period	8,357
Servicing Liability at Amortized Value [Roll Forward]
Balance at the beginning of the period	0
Purchase/Assumptions of servicing rights/obligations	83,246
Amortization/Accretion	(1,267)
Balance at the end of the period	81,979
Reverse Mortgages
Servicing Assets at Amortized Value
Principal amount outstanding on loans managed and securitized	$ 27,200,000	$ 27,200,000

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Commitments and Contingencies - Other Contingencies (Details) (Loan Subservicing Agreement, USD $) In Millions, unless otherwise specified	Jun. 30, 2011
Maximum
Mortgage Servicing Rights [Line Items]
Incentive fees	$ 2.5
Loss Sharing Agreement [Member]
Mortgage Servicing Rights [Line Items]
Company share under loss sharing agreement	$ 10.0

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Mortgage Loans Held for Sale and Investment (Tables)

6 Months Ended

Jun. 30, 2012

Mortgage Loans Held for Sale and Investment [Abstract]

Schedule of Mortgage Loans Held-for-Sale

Mortgage loans held for sale consist of the following (in thousands):

	June 30, 2012		December 31, 2011
Mortgage loans held for sale – unpaid principal balance	$	796,888	$	442,596
Mark-to-market adjustment	41,018		16,030
Total mortgage loans held for sale	$	837,906	$	458,626

Reconciliation of Mortgage Loans Held-for-Sale to Cash Flow

A reconciliation of the changes in mortgage loans held for sale to the amounts presented in the consolidated statements of cash flows for the dates indicated is presented in the following table (in thousands):

For the six months ended June 30,	2012			2011
Mortgage loans held for sale – beginning balance	$	458,626		$	369,617
Mortgage loans originated and purchased, net of fees	2,996,372			1,378,039
Cost of loans sold, net of fees	(2,639,778		)	(1,490,814		)
Principal payments received on mortgage loans held for sale and other changes	24,188			4,465
Transfer of mortgage loans held for sale to held for investment	(1,502		)	(288		)
Mortgage loans held for sale – ending balance	$	837,906		$	261,019

Schedule of Loans Held for Investment

Mortgage loans held for investment, subject to nonrecourse debt—legacy assets, net as of the dates indicated include (in thousands):

	June 30, 2012		December 31, 2011
Mortgage loans held for investment, subject to nonrecourse debt - legacy assets, net – unpaid principal balance	$	365,258	$	375,720
Transfer discount
Accretable	(22,193)		(22,392		)
Non-accretable	(98,791)		(104,024		)
Allowance for loan losses	(6,101)		(5,824		)
Total mortgage loans held for investment, subject to nonrecourse debt -legacy assets, net	$	238,173	$	243,480

Changes in Accretable Yield on Mortgage Loans Held for Investment

The changes in accretable yield on loans transferred to mortgage loans held for investment, subject to nonrecourse debt- legacy assets were as follows (in thousands):

	Six months ended June 30, 2012			Year ended December 31,2011
Accretable Yield
Balance at the beginning of the period	$	22,392		$	25,219
Additions	—			—
Accretion	(1,886		)	(4,131		)
Reclassifications from (to) nonaccretable discount	1,687			1,304
Disposals	—			—
Balance at the end of the period	$	22,193		$	22,392

Allowance for Loan Losses

The changes in the allowance for loan losses on mortgage loans held for investment, subject to nonrecourse debt-legacy assets, net were as follows (in thousands) for the dates indicated:

	Six months ended June 30, 2012
	Performing			Non-Performing			Total
Balance at the beginning of the period	$	1,641		$	4,183		$	5,824
Provision for loan losses	1,876			(268		)	1,608
Recoveries on loans previously charged-off	—			—			—
Charge-offs	(978		)	(353		)	(1,331		)
Balance at the end of the period	$	2,539		$	3,562		$	6,101
Ending balance – collectively evaluated for impairment	$	294,527		$	70,731		$	365,258

	Year ended December 31,2011
	Performing			Non-Performing			Total
Balance at the beginning of the period	$	829		$	2,469		$	3,298
Provision for loan losses	1,346			2,191			3,537
Recoveries on loans previously charged-off	—			—			—
Charge-offs	(534		)	(477		)	(1,011		)
Balance at the end of the period	$	1,641		$	4,183		$	5,824
Ending balance – Collectively evaluated for impairment	$	283,770		$	91,950		$	375,720

Mortgage Loans by Credit Quality Indicator

The following tables provide the outstanding unpaid principal balance of Nationstar’s mortgage loans held for investment by credit quality indicators as of dates indicated.

	June 30, 2012		December 31, 2011
	(in thousands)
Credit Quality by Delinquency Status
Performing	$	294,527	$	283,770
Non-Performing	70,731		91,950
Total	$	365,258	$	375,720
Credit Quality by Loan-to-Value Ratio
Less than 60	$	40,213	$	42,438
Less than 70 and more than 60	14,637		15,968
Less than 80 and more than 70	22,472		25,190
Less than 90 and more than 80	28,169		32,620
Less than 100 and more than 90	35,844		33,708
Greater than 100	223,923		225,796
Total	$	365,258	$	375,720

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Consolidated Statement of Cash Flows-Supplemental Disclosure (Details) (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 46.4	$ 45.8
Income taxes paid	$ 9.1	$ 0

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Shareholders' Equity

6 Months Ended

Jun. 30, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Shareholders' Equity

Shareholders’ Equity

Share-based compensation is recognized in accordance with ASC 718, Compensation-Stock Compensation. This guidance requires all share-based payments to employees, including grants of employee stock options, to be recognized as an expense in the consolidated statements of operations, based on the fair values. The amount of compensation is measured at the fair value of the awards when granted and this cost is expensed over the required service period, which is normally the vesting period of the award.

Nationstar Inc. has adopted the 2012 Incentive Compensation Plan (the “2012 Plan”), that offers certain key employees of Nationstar, consultants and non-employee directors equity-based awards. In connection with the initial public offering, on March 7, 2012, Nationstar Inc. made grants of restricted stock to management in the total amount of 1,191,117 shares and also to members of the Board in the total amount of 85,716 shares.

The restricted stock, net of forfeitures, is scheduled to vest over 3 years with 419,358 shares vesting in February 2013, 419,358 shares vesting in February 2014, and 420,617 shares vesting in February 2015. The weighted average grant date fair value of the restricted stock was $14.00.

The following table summarizes information about our restricted stock as of June 30, 2012 under the 2012 Plan (restricted stock in thousands):

	Shares	Grant Date Fair Value	Remaining Contractual Term
Restricted Stock outstanding at March 31, 2012	1,277	$14.00	2.7
Granted	—
Forfeited	(18)
Restricted Stock outstanding at June 30, 2012	1,259
Restricted Stock unvested and expected to vest at June 30, 2012	1,259
Restricted Stock vested and payable at June 30, 2012	—

In addition to the 2012 Plan, Nationstar management also had interests in certain of the predecessor parent company FIF’s restricted preferred units which fully vested on June 30, 2012. The weighted average grant date fair value of these units was $4.23. In conjunction with the final vesting under this plan, certain participants remitted a portion of their Nationstar Inc. common stock to Nationstar Mortgage LLC in payment of a portion of their federal tax withholdings on their vested shares. The participants paid the remainder of their required tax payments with cash. As a result of the above activity, Nationstar Mortgage LLC holds 212,156 shares of Nationstar Inc. common shares at their cost of $4.6 million. These shares are reflected in Nationstar's consolidated balance sheet as common shares held by subsidiary, a contra equity account. The shares are expected to be held by Nationstar Mortgage LLC until they can be distributed to Nationstar Inc. and retired.

Total compensation expense, net of forfeitures, for both the 2012 Plan and the predecessor plan recognized for the three and six months ended June 30, 2012 was $5.6 million and $8.0 million, respectively. Total compensation expense for the three and six months ended June 30, 2011 was $5.3 million and $10.5 million, respectively. Total compensation expenses, net of forfeitures, for the predecessor plan for the three and six months ended June 30, 2012, was $5.3 million and $10.5 million, respectively. Nationstar expects to recognize $5.4 million of compensation expense in the last six months of 2012, $5.9 million in 2013, $2.5 million in 2014, and $0.4 million in 2015.

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Guarantor Financial Statement Information

6 Months Ended

Jun. 30, 2012

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Guarantor Financial Statement Information

Guarantor Financial Statement Information

Nationstar has $560.0 million aggregate principal amount of unsecured senior notes which mature on various dates through May 1, 2019. The notes are jointly and severally guaranteed on an unsecured senior basis by all of Nationstar’s existing and future wholly-owned domestic restricted subsidiaries with certain exceptions. All guarantor subsidiaries are 100% owned by Nationstar. Effective June 30, 2012, Nationstar Inc. and its two direct wholly-owned subsidiaries became guarantors of the unsecured senior notes as well. Presented below are consolidating financial statements of Nationstar Inc., Nationstar LLC, and the guarantor subsidiaries for the periods indicated.

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING BALANCE SHEET JUNE 30, 2012 (IN THOUSANDS)
Assets	Nationstar Inc.		Issuer		Guarantor (Subsidiaries)		Non-Guarantor (Subsidiaries)		Eliminations			Consolidated
Cash and cash equivalents	$	—	$	15,574	$	318	$	—	$	—		$	15,892
Restricted cash	—		74,087		3		45,422		—			119,512
Accounts receivable, net	—		2,486,753		195		1,238		(195		)	2,487,991
Mortgage loans held for sale	—		837,906		—		—		—			837,906
Mortgage loans held for investment, subject to nonrecourse debt–Legacy Asset, net	—		8,376		—		229,797		—			238,173
Participating interest in reverse mortgages	—		310,074		—		—		—			310,074
Receivables from affiliates	—		—		77,439		1,446,695		(1,511,051		)	13,083
Mortgage servicing rights – fair value	—		596,462		—		—		—			596,462
Investment in subsidiaries	608,474		159,596		—		—		(768,070		)	—
Mortgage servicing rights – amortized cost	—		8,357		—		—		—			8,357
Property and equipment, net	—		38,255		835		—		—			39,090
REO, net	—		892		—		2,537		—			3,429
Other assets	24,647		226,261		—		—		(24,647		)	226,261
Total assets	$	633,121	$	4,762,593	$	78,790	$	1,725,689	$	(2,303,963	)	$	4,896,230
Liabilities and shareholders’ equity
Notes payable	$	—	$	881,996	$	—	$	1,530,368	$	—		$	2,412,364
Unsecured senior notes	—		555,938		—		—		—			555,938
Payables and accrued liabilities	—		663,213		—		1,468		(24,842		)	639,839
Payables to affiliates	—		1,511,051		—		—		(1,511,051		)	—
Derivative financial instruments	—		12,135		—		6,776		—			18,911
Mortgage Servicing Liability	—		81,979		—		—		—			81,979
Nonrecourse debt–Legacy Assets	—		—		—		106,271		—			106,271
Excess spread financing - at fair value	—		266,693		—		—		—			266,693
Participating interest financing	—		181,114		—		—		—			181,114
Total liabilities	—		4,154,119		—		1,644,883		(1,535,893		)	4,263,109
Total shareholders’ equity	633,121		608,474		78,790		80,806		(768,070		)	633,121
Total liabilities and shareholders’ equity	$	633,121	$	4,762,593	$	78,790	$	1,725,689	$	(2,303,963	)	$	4,896,230

NATIONSTAR MORTGAGE INC CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2012 (IN THOUSANDS)
	Nationstar Inc.		Issuer			Guarantor (Subsidiaries)			Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Revenues:
Servicing fee income	$	—	$	84,093		$	—		$	2,453		$	(454	)	$	86,092
Other fee income	—		4,982			6,511			117			—			11,610
Total fee income	—		89,075			6,511			2,570			(454		)	97,702
Gain on mortgage loans held for sale	—		102,345			—			—			—			102,345
Total Revenues	—		191,420			6,511			2,570			(454		)	200,047
Expenses and impairments:
Salaries, wages and benefits	—		76,005			2,742			—			—			78,747
General and administrative	—		43,173			811			2,426			—			46,410
Provision for loan losses	—		(461		)	—			1,316			—			855
Loss on foreclosed real estate and other	—		124			—			1,366			—			1,490
Occupancy	—		2,870			—			—			—			2,870
Total expenses and impairments	—		121,711			3,553			5,108			—			130,372
Other income (expense):
Interest income	—		9,902			—			5,294			454			15,650
Interest expense	—		(28,637		)	—			(7,276		)	—			(35,913		)
Gain/(Loss) on interest rate swaps and caps	—		(506		)	—			149			—			(357		)
Gain/(loss) from subsidiaries	32,602		(1,448		)	—			—			(31,154		)	—
Total other income (expense)	32,602		(20,689		)	—			(1,833		)	(30,700		)	(20,620		)
Income before taxes	32,602		49,020			2,958			(4,371		)	(31,154		)	49,055
Income tax expense	3,673		(16,418		)	(5		)	(30		)	—			(12,780		)
Net income/(loss)	36,275		32,602			2,953			(4,401		)	(31,154		)	36,275
Other comprehensive income, net of tax:
Change in value of cash flow hedges	—		—			—			(423		)	—			(423		)
Comprehensive income / (loss)	$	36,275	$	32,602		$	2,953		$	(4,824	)	$	(31,154	)	$	35,852

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2012 (IN THOUSANDS)
	Nationstar Inc.		Issuer			Guarantor (Subsidiaries)			Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Revenues:
Servicing fee income	$	—	$	166,024		$	—		$	4,939		$	(921	)	$	170,042
Other fee income	—		4,982			13,649			232			—			18,863
Total fee income	—		171,006			13,649			5,171			(921		)	188,905
Gain on mortgage loans held for sale	—		172,857			—			—			—			172,857
Total Revenues	—		343,863			13,649			5,171			(921		)	361,762
Expenses and impairments:
Salaries, wages and benefits	—		135,588			4,824			—			—			140,412
General and administrative	—		69,199			1,377			4,946			—			75,522
Provision for loan losses	—		—			—			1,608			—			1,608
Loss on foreclosed real estate and other	—		124			—			3,631			—			3,755
Occupancy	—		5,652			—			—			—			5,652
Total expenses and impairments	—		210,563			6,201			10,185			—			226,949
Other income (expense):
Interest income	—		18,029			—			10,141			921			29,091
Interest expense	—		(46,832		)	—			(14,061		)	—			(60,893		)
Gain/(Loss) on interest rate swaps and caps	—		(812		)	—			187			—			(625		)
Gain/(loss) from subsidiaries	64,660		(1,334		)	—			—			(63,326		)	—
Total other income (expense)	64,660		(30,949		)	—			(3,733		)	(62,405		)	(32,427		)
Income before taxes	64,660		102,351			7,448			(8,747		)	(63,326		)	102,386
Income tax expense	21,801		(37,691		)	(5		)	(30		)	—			(15,925		)
Net income/(loss)	86,461		64,660			7,443			(8,777		)	(63,326		)	86,461
Other comprehensive income, net of tax:
Change in value of cash flow hedges	—		—			—			(423		)	—			(423		)
Comprehensive income / (loss)	$	86,461	$	64,660		$	7,443		$	(9,200	)	$	(63,326	)	$	86,038

NATIONSTAR MORTGAGE HOLDINGS INC. CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2012 (IN THOUSANDS)
	Nationstar Inc.			Issuer			Guarantor (Subsidiaries)			Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Operating activities:
Net income/(loss)	$	86,461		$	64,660		$	7,443		$	(8,777	)	$	(63,326	)	$	86,461
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
(Gain)/loss from subsidiaries	(64,660		)	1,334			—			—			63,326			—
Share-based compensation	—			8,030			—			—			—			8,030
Gain on mortgage loans held for sale	—			(172,857		)	—			—			—			(172,857		)
Provision for loan losses	—			—			—			1,608			—			1,608
Loss on foreclosed real estate and other	—			124			—			3,631			—			3,755
Loss on equity method investments	—			594			—			—			—			594
(Gain)/loss on ineffectiveness on interest rate swaps and cap	—			812			—			(187		)	—			625
Fair value changes in excess spread financing	—			7,263			—			—			—			7,263
Depreciation and amortization	—			3,385			—			—			—			3,385
Change in fair value of mortgage servicing rights	—			20,380			—			—			—			20,380
Accretion of mortgage servicing liability	—			(624		)	—			—			—			(624		)
Amortization of debt discount	—			7,469			—			1,012			—			8,481
Amortization of premiums/(discounts)	—			(55		)	—			(2,575		)	—			(2,630		)
Mortgage loans originated and purchased, net of fees	—			(2,996,372		)	—			—			—			(2,996,372		)
Cost of loans sold and principal payments and prepayments, and other changes in mortgage loans originated as held for sale, net of fees	—			2,723,337			—			1,033			—			2,724,370
Changes in assets and liabilities:
Accounts receivable	—			(340,581		)	(188		)	279,273			195			(61,301		)
Receivables from/(payables to) affiliates	—			1,541,884			(7,181		)	(1,533,832		)	—			871
Reverse funded advances due to securitization	—			(220,788		)	—			—			—			(220,788		)
Other assets	(27,498		)	(79,042		)	—			—			24,647			(81,893		)
Accounts payable and accrued liabilities	2,847			337,788			—			(1,776		)	(24,842		)	314,017
Net cash provided by/(used in) operating activities	(2,850		)	906,741			74			(1,260,590		)	—			(356,625		)

	Nationstar Inc.			Issuer			Guarantor (Subsidiaries)		Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Investing activities:
Property and equipment additions, net of disposals	—			(8,102		)	—		—			—			(8,102		)
Cash Proceeds from assumption of reverse mortgage servicing obligations, net	—			11,852			—		—			—			11,852
Deposit on / purchase of mortgage servicing rights, net of liabilities incurred	—			(1,979,836		)	—		—			—			(1,979,836		)
Repurchases of REO from Ginnie Mae	—			(4,464		)	—		—			—			(4,464		)
Proceeds from sales of REO	—			6,764			—		5,133			—			11,897
Net cash provided by/(used in) investing activities	—			(1,973,786		)	—		5,133			—			(1,968,653		)
Financing activities:
Issuance of Senior Unsecured Notes	—			269,500			—		—			—			269,500
Transfers to/from restricted cash	—			(78,503		)	—		(23,106		)	—			(101,609		)
Issuance of common stock, net of IPO issuance costs	249,550			—			—		—			—			249,550
Issuance of participating interest financing	—			182,577			—		—			—			182,577
Issuance of excess spread financing	—			187,438			—		—			—			187,438
Increase (decrease) in notes payable, net	—			253,391			—		1,285,794			—			1,539,185
Repayment of nonrecourse debt–Legacy assets	—			—			—		(7,231		)	—			(7,231		)
Repayment of excess servicing spread financing	—			(5,507		)	—		—			—			(5,507		)
Distribution to subsidiaries	(246,700		)	—			—		—			246,700			—
Contributions of parent	—			246,700			—		—			(246,700		)	—
Debt financing costs	—			(35,178		)	—		—			—			(35,178		)
Net cash provided by/(used in) financing activities	2,850			1,020,418			—		1,255,457			—			2,278,725
Net increase/(decrease) in cash	—			(46,627		)	74		—			—			(46,553		)
Cash and cash equivalents at beginning of period	—			62,201			244		—			—			62,445
Cash and cash equivalents at end of period	$	—		$	15,574		$	318	$	—		$	—		$	15,892

NATIONSTAR MORTGAGE LLC CONSOLIDATING BALANCE SHEET DECEMBER 31, 2011 (IN THOUSANDS)
	Issuer (Parent)		Guarantor (Subsidiaries)		Non-Guarantor (Subsidiaries)		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	62,201	$	244	$	—	$	—		$	62,445
Restricted cash	49,180		3		22,316		—			71,499
Accounts receivable, net	281,782		7		280,511		—			562,300
Mortgage loans held for sale	458,626		—		—		—			458,626
Mortgage loans held for investment, subject to nonrecourse debt–Legacy Asset, net	5,984		—		237,496		—			243,480
Receivables from affiliates	41,961		70,541		—		(107,893		)	4,609
Mortgage servicing rights – fair value	251,050		—		—		—			251,050
Investment in subsidiaries	140,880		—		—		(140,880		)	—
Property and equipment, net	23,238		835		—		—			24,073
REO, net	—		—		3,668		—			3,668
Other assets	106,181		—		—		—			106,181
Total assets	$	1,421,083	$	71,630	$	543,991	$	(248,773	)	$	1,787,931
Liabilities and members’ equity
Notes payable	$	628,605	$	—	$	244,574	$	—		$	873,179
Unsecured senior notes	280,199		—		—		—			280,199
Payables and accrued liabilities	180,545		—		3,244		—			183,789
Payables to affiliates	—		—		107,893		(107,893		)	—
Derivative financial instruments	5,830		—		6,540		—			12,370
Derivative financial instruments, subject to ABS nonrecourse debt	—		—		—		—			—
Nonrecourse debt–Legacy Assets	—		—		112,490		—			112,490
Excess spread financing – fair value	44,595		—		—		—			44,595
ABS nonrecourse – fair value	—		—		—		—			—
Total liabilities	1,139,774		—		474,741		(107,893		)	1,506,622
Total members’ equity	281,309		71,630		69,250		(140,880		)	281,309
Total liabilities and members’ equity	$	1,421,083	$	71,630	$	543,991	$	(248,773	)	$	1,787,931

NATIONSTAR MORTGAGE LLC CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE THREE MONTHS ENDED JUNE 30, 2011 (IN THOUSANDS)
	Issuer			Guarantor (Subsidiaries)		Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Revenues:
Servicing fee income	$	51,571		$	1,439	$	—		$	(1,774	)	$	51,236
Other fee income	5,509			2,423		209			—			8,141
Total fee income	57,080			3,862		209			(1,774		)	59,377
Gain on mortgage loans held for sale	22,822			—		—			—			22,822
Total Revenues	79,902			3,862		209			(1,774		)	82,199
Expenses and impairments:
Salaries, wages and benefits	47,527			845		—			—			48,372
General and administrative	14,529			1,213		4			—			15,746
Provision for loan losses	—			—		—			—			—
Loss on foreclosed real estate	(43		)	—		2,142			—			2,099
Occupancy	2,142			43		—			—			2,185
Total expenses and impairments	64,155			2,101		2,146			—			68,402
Other income / (expense):
Interest income	4,580			—		10,373			1,774			16,727
Interest expense	(13,130		)	—		(12,055		)	—			(25,185		)
Fair value changes in ABS securitizations	—			—		(3,477		)	(136		)	(3,613		)
Gain / (loss) from subsidiaries	(10,244		)	—		—			10,244			—
Total other income / (expense)	(18,794		)	—		(5,159		)	11,882			(12,071		)
Net income / (loss)	(3,047		)	1,761		(7,096		)	10,108			1,726
Other comprehensive income, net of tax:
Change in value of cash flow hedges	—			—		(1,210		)	—			(1,210		)
Comprehensive income / (loss)	$	(3,047	)	$	1,761	$	(8,306	)	$	10,108		$	516

NATIONSTAR MORTGAGE LLC CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2011 (IN THOUSANDS)
	Issuer (Parent)			Guarantor (Subsidiaries)			Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Revenues:
Servicing fee income	$	109,883		$	1,439		$	—		$	(3,598	)	$	107,724
Other fee income	10,005			5,654			680			—			16,339
Total fee income	119,888			7,093			680			(3,598		)	124,063
Gain on mortgage loans held for sale	43,328			—			—			—			43,328
Total Revenues	163,216			7,093			680			(3,598		)	167,391
Expenses and impairments:
Salaries, wages and benefits	93,657			1,638			—			—			95,295
General and administrative	29,469			1,834			7			—			31,310
Provision for loan losses	724			—			404			—			1,128
Loss on foreclosed real estate	202			—			4,144			—			4,346
Occupancy	4,346			98			—			—			4,444
Total expenses and impairments	128,398			3,570			4,555			—			136,523
Other income / (expense):
Interest income	8,199			(5		)	23,253			3,598			35,045
Interest expense	(26,725		)	—			(23,828		)	—			(50,553		)
Fair value changes in ABS securitizations	—			—			(6,382		)	117			(6,265		)
Gain / (loss) from subsidiaries	(7,314		)	—			—			7,314			—
Total other income / (expense)	(25,840		)	(5		)	(6,957		)	11,029			(21,773		)
Net income / (loss)	$	8,978		$	3,518		$	(10,832	)	$	7,431		$	9,095
Other comprehensive income, net of tax:
Change in value of cash flow hedges	—			—			(1,071		)	—			(1,071		)
Comprehensive income / (loss)	$	8,978		$	3,518		$	(11,903	)	$	7,431		$	8,024

NATIONSTAR MORTGAGE LLC CONSOLIDATING STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2011 (IN THOUSANDS)
	Issuer (Parent)			Guarantor (Subsidiaries)			Non-Guarantor (Subsidiaries)			Eliminations			Consolidated
Operating activities:
Net income/(loss)	$	8,978		$	3,518		$	(10,832	)	$	7,431		$	9,095
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Loss on equity method investments	521												521
Share-based compensation	10,526			—			—			—			10,526
Gain on mortgage loans held for sale	(43,328		)	—			—			—			(43,328		)
Provision for loan losses	724			—			404			—			1,128
Loss on foreclosed real estate and other	202			—			4,144			—			4,346
(Gain)/loss on ineffectiveness on interest rate swaps and cap	—			—			(1,416		)	—			(1,416		)
Fair value changes in ABS securitizations	—			—			6,382			(117		)	6,265
Loss from subsidiaries	7,314			—			—			(7,314		)	—
Depreciation and amortization	1,560			—			—			—			1,560
Change in fair value of mortgage servicing rights	11,722			—			—			—			11,722
Amortization of debt discount	4,389			—			2,057			—			6,446
Amortization of premiums/(discounts)	—			—			(2,424		)	—			(2,424		)
Mortgage loans originated and purchased, net of fees	(1,378,039		)	—			—			—			(1,378,039		)
Cost of loans sold, net of fees	1,490,814			—			—			—			1,490,814
Principal payments/prepayments received and other changes in mortgage loans originated as held for sale	19,336			—			5,462			—			24,798
Changes in assets and liabilities:
Accounts receivable	(30,448		)	—			(351		)	—			(30,799		)
Receivables from/(payables to) affiliates	(29,292		)	(3,680		)	34,614			—			1,642
Other assets	(470		)	—			—			—			(470		)
Accounts payable and accrued liabilities	3,885			—			(175		)	—			3,710
Net cash provided by/(used) in operating activities	78,394			(162		)	37,865			—			116,097

	Issuer (Parent)			Guarantor (Subsidiaries)			Non-Guarantor (Subsidiaries)			Eliminations		Consolidated
Investing activities:
Principal payments received and other changes on mortgage loans held for investment, subject to ABS nonrecourse debt	—			—			14,285			—		14,285
Property and equipment additions, net of disposals	(8,833		)	—			—			—		(8,833		)
Acquisition of equity method investment	(6,600		)	—			—			—		(6,600		)
Purchase of mortgage servicing rights	(232		)	—			—			—		(232		)
Proceeds from sales of REO	313			—			19,689			—		20,002
Net cash provided by/(used) in investing activities	(15,352		)	—			33,974			—		18,622
Financing activities:
Transfers to/from restricted cash	8,754			(3		)	(1,957		)	—		6,794
Decrease in notes payable, net	(78,884		)	—			(26,104		)	—		(104,988		)
Repayment of nonrecourse debt–Legacy assets	—			—			(14,693		)	—		(14,693		)
Repayment of ABS nonrecourse debt	—			—			(29,085		)	—		(29,085		)
Debt financing costs	(2,729		)	—			—			—		(2,729		)
Distribution to parent	(3,900		)	—			—			—		(3,900		)
Tax related share-based settlement of units by members	(4,809		)	—			—			—		(4,809		)
Net cash provided by/(used) in financing activities	(81,568		)	(3		)	(71,839		)	—		(153,410		)
Net increase/(decrease) in cash	(18,526		)	(165		)	—			—		(18,691		)
Cash and cash equivalents at beginning of period	20,904			319			—			—		21,223
Cash and cash equivalents at end of period	$	2,378		$	154		$	—		$	—	$	2,532

XML

Guarantor Financial Statement Information - Consolidating Balance Sheets (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2011	Dec. 31, 2010
Assets
Cash and cash equivalents	$ 15,892	$ 62,445	$ 2,532	$ 21,223
Restricted cash	119,512	71,499
Accounts receivable, net	2,487,991	562,300
Mortgage loans held for sale	837,906	458,626	261,019	369,617
Mortgage loans held for investment, subject to nonrecourse debt - Legacy Asset, net	238,173	243,480
Participating interest in reverse mortgages	310,074	0
Receivables from affiliates	13,083	4,609
Mortgage servicing rights - fair value	596,462	251,050
Investment in subsidiaries	0	0
Mortgage servicing rights - amortized cost	8,357	0
Property and equipment, net	39,090	24,073
REO, net	3,429	3,668
Other assets	226,261	106,181
Total assets	4,896,230	1,787,931	1,790,742
Liabilities and shareholders' equity
Notes payable	2,412,364	873,179
Unsecured senior notes	555,938	280,199
Payables and accrued liabilities	639,839	183,789
Payables to affiliates	0	0
Derivative financial instruments	18,911	12,370
Mortgage Servicing Liability	81,979	0
Nonrecourse debt-Legacy Assets	106,271	112,490
Excess spread financing - fair value	266,693	44,595
Participating interest financing	181,114	0
Total liabilities	4,263,109	1,506,622
Total shareholders' equity	633,121	281,309		256,372
Total liabilities and equity	4,896,230	1,787,931
Parent Company
Assets
Cash and cash equivalents	0	0
Restricted cash	0
Accounts receivable, net	0
Mortgage loans held for sale	0
Mortgage loans held for investment, subject to nonrecourse debt - Legacy Asset, net	0
Participating interest in reverse mortgages	0
Receivables from affiliates	0
Mortgage servicing rights - fair value	0
Investment in subsidiaries	608,474
Mortgage servicing rights - amortized cost	0
Property and equipment, net	0
REO, net	0
Other assets	24,647
Total assets	633,121
Liabilities and shareholders' equity
Notes payable	0
Unsecured senior notes	0
Payables and accrued liabilities	0
Payables to affiliates	0
Derivative financial instruments	0
Mortgage Servicing Liability	0
Nonrecourse debt-Legacy Assets	0
Excess spread financing - fair value	0
Participating interest financing	0
Total liabilities	0
Total shareholders' equity	633,121
Total liabilities and equity	633,121
Issuer
Assets
Cash and cash equivalents		62,201	2,378	20,904
Restricted cash		49,180
Accounts receivable, net		281,782
Mortgage loans held for sale		458,626
Mortgage loans held for investment, subject to nonrecourse debt - Legacy Asset, net		5,984
Receivables from affiliates		41,961
Mortgage servicing rights - fair value		251,050
Investment in subsidiaries		140,880
Property and equipment, net		23,238
REO, net		0
Other assets		106,181
Total assets		1,421,083
Liabilities and shareholders' equity
Notes payable		628,605
Unsecured senior notes		280,199
Payables and accrued liabilities		180,545
Payables to affiliates		0
Derivative financial instruments		5,830
Nonrecourse debt-Legacy Assets		0
Excess spread financing - fair value		44,595
Total liabilities		1,139,774
Total shareholders' equity		281,309
Total liabilities and equity		1,421,083
Issuer
Assets
Cash and cash equivalents	15,574	62,201
Restricted cash	74,087
Accounts receivable, net	2,486,753
Mortgage loans held for sale	837,906
Mortgage loans held for investment, subject to nonrecourse debt - Legacy Asset, net	8,376
Participating interest in reverse mortgages	310,074
Receivables from affiliates	0
Mortgage servicing rights - fair value	596,462
Investment in subsidiaries	159,596
Mortgage servicing rights - amortized cost	8,357
Property and equipment, net	38,255
REO, net	892
Other assets	226,261
Total assets	4,762,593
Liabilities and shareholders' equity
Notes payable	881,996
Unsecured senior notes	555,938
Payables and accrued liabilities	663,213
Payables to affiliates	1,511,051
Derivative financial instruments	12,135
Mortgage Servicing Liability	81,979
Nonrecourse debt-Legacy Assets	0
Excess spread financing - fair value	266,693
Participating interest financing	181,114
Total liabilities	4,154,119
Total shareholders' equity	608,474
Total liabilities and equity	4,762,593
Guarantor (Subsidiaries)
Assets
Cash and cash equivalents	318	244	154	319
Restricted cash	3	3
Accounts receivable, net	195	7
Mortgage loans held for sale	0	0
Mortgage loans held for investment, subject to nonrecourse debt - Legacy Asset, net	0	0
Participating interest in reverse mortgages	0
Receivables from affiliates	77,439	70,541
Mortgage servicing rights - fair value	0	0
Investment in subsidiaries	0	0
Mortgage servicing rights - amortized cost	0
Property and equipment, net	835	835
REO, net	0	0
Other assets	0	0
Total assets	78,790	71,630
Liabilities and shareholders' equity
Notes payable	0	0
Unsecured senior notes	0	0
Payables and accrued liabilities	0	0
Payables to affiliates	0	0
Derivative financial instruments	0	0
Mortgage Servicing Liability	0
Nonrecourse debt-Legacy Assets	0	0
Excess spread financing - fair value	0	0
Participating interest financing	0
Total liabilities	0	0
Total shareholders' equity	78,790	71,630
Total liabilities and equity	78,790	71,630
Non-Guarantor (Subsidiaries)
Assets
Cash and cash equivalents	0	0	0	0
Restricted cash	45,422	22,316
Accounts receivable, net	1,238	280,511
Mortgage loans held for sale	0	0
Mortgage loans held for investment, subject to nonrecourse debt - Legacy Asset, net	229,797	237,496
Participating interest in reverse mortgages	0
Receivables from affiliates	1,446,695	0
Mortgage servicing rights - fair value	0	0
Investment in subsidiaries	0	0
Mortgage servicing rights - amortized cost	0
Property and equipment, net	0	0
REO, net	2,537	3,668
Other assets	0	0
Total assets	1,725,689	543,991
Liabilities and shareholders' equity
Notes payable	1,530,368	244,574
Unsecured senior notes	0	0
Payables and accrued liabilities	1,468	3,244
Payables to affiliates	0	107,893
Derivative financial instruments	6,776	6,540
Mortgage Servicing Liability	0
Nonrecourse debt-Legacy Assets	106,271	112,490
Excess spread financing - fair value	0	0
Participating interest financing	0
Total liabilities	1,644,883	474,741
Total shareholders' equity	80,806	69,250
Total liabilities and equity	1,725,689	543,991
Eliminations
Assets
Cash and cash equivalents	0	0	0	0
Restricted cash	0	0
Accounts receivable, net	(195)	0
Mortgage loans held for sale	0	0
Mortgage loans held for investment, subject to nonrecourse debt - Legacy Asset, net	0	0
Participating interest in reverse mortgages	0
Receivables from affiliates	(1,511,051)	(107,893)
Mortgage servicing rights - fair value	0	0
Investment in subsidiaries	(768,070)	(140,880)
Mortgage servicing rights - amortized cost	0
Property and equipment, net	0	0
REO, net	0	0
Other assets	(24,647)	0
Total assets	(2,303,963)	(248,773)
Liabilities and shareholders' equity
Notes payable	0	0
Unsecured senior notes	0	0
Payables and accrued liabilities	(24,842)	0
Payables to affiliates	(1,511,051)	(107,893)
Derivative financial instruments	0	0
Mortgage Servicing Liability	0
Nonrecourse debt-Legacy Assets	0	0
Excess spread financing - fair value	0	0
Participating interest financing	0
Total liabilities	(1,535,893)	(107,893)
Total shareholders' equity	(768,070)	(140,880)
Total liabilities and equity	$ (2,303,963)	$ (248,773)

XML

Variable Interest Entities and Securitizations - Securitization Trusts (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Dec. 31, 2011
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total mortgage servicing rights at fair value	$ 596,462		$ 251,050
Variable Interest Entity, Not Primary Beneficiary
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Total collateral balances	4,335,667		4,579,142
Total certificate balances	4,338,552		4,582,598
Total mortgage servicing rights at fair value	28,182		28,635
Principal Amount of Loans 60 Days or More Past Due	891,261	751,431
Credit Losses	$ 154,425	$ 120,290

XML

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The estimated carrying amount and fair value of Nationstar’s financial instruments and other assets and liabilities measured at fair value on a recurring basis is as follows for the dates indicated (in thousands):

			June 30, 2012
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
ASSETS
Mortgage loans held for sale(1)	$	837,906	$	—	$	837,906	$	—
Mortgage servicing rights – fair value(1)	596,462		—		—		596,462
Other assets:
IRLCs	53,193		—		53,193		—
Total assets	$	1,487,561	$	—	$	891,099	$	596,462
LIABILITIES
Derivative financial instruments
Interest rate swaps and caps	$	6,778	$	—	$	6,778	$	—
Interest rate swaps on ABS debt	1,243		—		1,243		—
Forward MBS trades	10,890		—		10,890		—
Excess spread financing (at fair value)	266,693		—		—		266,693
Total liabilities	$	285,604	$	—	$	18,911	$	266,693
			December 31, 2011
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
ASSETS
Mortgage loans held for sale(1)	$	458,626	$	—	$	458,626	$	—
Mortgage servicing rights – fair value(1)	251,050		—		—		251,050
Other assets:
IRLCs	11,302		—		11,302		—
Total assets	$	720,978	$	—	$	469,928	$	251,050
LIABILITIES
Derivative financial instruments
Interest rate swaps and caps	$	6,540	$	—	$	6,540	$	—
Forward MBS trades	5,830		—		5,830		—
Excess spread financing (at fair value)	44,595		—		—		44,595
Total liabilities	$	56,965	$	—	$	12,370	$	44,595

(1) Based on the nature and risks of these assets and liabilities, the Company has determined that presenting them as a single class is appropriate.

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The table below presents a reconciliation for all of Nationstar’s Level 3 assets and liabilities measured at fair value on a recurring basis for the dates indicated (in thousands):

	ASSETS			LIABILITIES
For the three months ended June 30, 2012	Mortgage servicing rights			Excess spread financing
Beginning balance	$	266,169		$	47,324
Transfers into Level 3	—			—
Transfers out of Level 3	—			—
Total gains or losses
Included in earnings	(20,875		)	2,412
Included in other comprehensive income	—			—
Purchases, issuances, sales and settlements
Purchases	340,106			—
Issuances	11,062			220,374
Sales	—			—
Settlements	—			(3,417		)
Ending balance	$	596,462		$	266,693

	ASSETS			LIABILITIES
For the six months ended June 30, 2012	Mortgage servicing rights			Excess spread financing
Beginning balance	$	251,050		$	44,595
Transfers into Level 3	—			—
Transfers out of Level 3	—			—
Total gains or losses
Included in earnings	(20,380		)	7,263
Included in other comprehensive income	—			—
Purchases, issuances, sales and settlements
Purchases	341,664			—
Issuances	24,128			220,342
Sales	—			—
Settlements	—			(5,507		)
Ending balance	$	596,462		$	266,693

	ASSETS			LIABILITIES
For the year ending December 31, 2011	Mortgage servicing rights			Excess spread financing
Beginning balance	$	145,062		$	—
Transfers into Level 3	—			—
Transfers out of Level 3	—			—
Total gains or losses
Included in earnings	(39,000		)	3,060
Included in other comprehensive income	—			—
Purchases, issuances, sales and settlements
Purchases	102,800			—
Issuances	36,474			43,742
Sales	—			—
Settlements	5,714			(2,207		)
Ending balance	$	251,050		$	44,595

Fair Value Measurements, Nonrecurring

The table below presents the items which Nationstar measures at fair value on a nonrecurring basis (in thousands).

	Nonrecurring Fair Value Measurements						Total Estimated Fair Value		Total Gains (Losses) Included in Earnings
	Level 1		Level 2		Level 3
Three months ended June 30, 2012
Assets
REO(1)	$	—	$	—	$	3,429	$	3,429	$	(1,490	)
Total assets	$	—	$	—	$	3,429	$	3,429	$	(1,490	)
Six months ended June 30, 2012
Assets
REO(1)	$	—	$	—	$	3,429	$	3,429	$	(3,755	)
Total assets	$	—	$	—	$	3,429	$	3,429	$	(3,755	)
Year ended December 31,2011
Assets
REO(1)	$	—	$	—	$	3,668	$	3,668	$	(6,833	)
Total assets	$	—	$	—	$	3,668	$	3,668	$	(6,833	)

(1) Based on the nature and risks of these assets and liabilities, the Company has determined that presenting them as a single class is appropriate.

Fair Value, by Balance Sheet Grouping

The table below presents a summary of the estimated carrying amount and fair value of Nationstar’s financial instruments (in thousands).

	June 30, 2012
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	15,892	$	15,892	$	—	$	—
Restricted cash	119,512		119,512		—		—
Mortgage loans held for sale	837,906		—		837,906		—
Mortgage loans held for investment, subject to nonrecourse debt – Legacy assets	238,173		—		—		229,010
Reverse mortgage interests	310,074		—		310,074		—
Derivative instruments	53,193		—		53,193		—
Financial liabilities:
Notes payable	2,412,364		—		—		2,412,364
Unsecured senior notes	555,938		599,842		—		—
Derivative financial instruments	18,911		—		18,911		—
Nonrecourse debt - Legacy assets	106,271		—		—		107,640
Excess spread financing	266,693		—		—		266,693
Participating interest financing	181,114		—		181,114		—
	December 31, 2011
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	62,445	$	62,445	$	—	$	—
Restricted cash	71,499		71,499		—		—
Mortgage loans held for sale	458,626		—		458,626		—
Mortgage loans held for investment, subject to nonrecourse debt – Legacy assets	243,480		—		—		226,890
Derivative instruments	11,302		—		11,302		—
Financial liabilities:
Notes payable	873,179		—		—		873,179
Unsecured senior notes	280,199		282,150		—		—
Derivative financial instruments	12,370		—		12,370		—
Nonrecourse debt - Legacy assets	112,490		—		—		114,037
Excess spread financing	44,595		—		—		44,595

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Consolidated Statements of Shareholders' Equity (USD $) In Thousands, except Share data, unless otherwise specified	Total	Common Stock	Members' Units	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Retained Earnings	Common Shares Held By Subsidiary
Balance at Dec. 31, 2010	$ 256,372		$ 255,301		$ 1,071
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	14,815		14,815
Distributions to parent	(4,348)		(4,348)
Tax related share-based settlement of units by members	(5,346)		(5,346)
Net income	20,887		20,887
Change in value of cash flow hedge	(1,071)		0		(1,071)
Balance at Dec. 31, 2011	281,309	0	281,309	0	0	0	0
Balance, shares at Dec. 31, 2011		0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Contributions from parent - FIF HE	12,764		12,764
LLC conversion of equity to common shares	0	700	(294,073)	293,373
LLC conversion of equity to common shares, shares		70,000,000
Common stock issuance	246,700	192		246,508
Common stock issuance, shares		19,167,000
Share-based compensation	8,030			8,030
Excess tax benefit from share-based compensation	2,846			2,846
Tax related share-based settlement of units by members	(4,566)						(4,566)
Net income	86,461					86,461
Change in value of cash flow hedge	(423)				(423)
Balance at Jun. 30, 2012	$ 633,121	$ 892	$ 0	$ 550,757	$ (423)	$ 86,461	$ (4,566)
Balance, shares at Jun. 30, 2012		89,167,000

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Capital Requirements (Details) (USD $) In Millions, unless otherwise specified	Jun. 30, 2012
Mortgage Banking [Abstract]
Minimum Net Worth Required for Compliance	$ 293.8
Minimum Tangible Net Worth Required for Compliance	$ 175.0

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Consolidated Statement of Cash Flows-Supplemental Disclosure

6 Months Ended

Jun. 30, 2012

Supplemental Cash Flow Elements [Abstract]

Consolidated Statement of Cash Flows-Supplemental Disclosure

Consolidated Statement of Cash Flows-Supplemental Disclosure

Total interest paid for the six months ended June 30, 2012 and 2011 was approximately $46.4 million and $45.8 million, respectively. Income taxes paid for the six months ended June 30, 2012 was $9.1 million. There were no income taxes paid for the six months ended June 30, 2011.

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Mortgage Loans Held for Sale and Investment - Credit Quality (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Minimum | Loan-to-Value Ratio Between 60 Percent and 70 Percent
Financing Receivable, Recorded Investment [Line Items]
Loan-to-value ratio	60.00%
Minimum | Loan-to-Value Ratio Between 70 Percent and 80 Percent
Financing Receivable, Recorded Investment [Line Items]
Loan-to-value ratio	70.00%
Minimum | Loan-to-Value Ratio Between 80 Percent and 90 Percent
Financing Receivable, Recorded Investment [Line Items]
Loan-to-value ratio	80.00%
Minimum | Loan-to-Value Ratio Between 90 Percent and 100 Percent
Financing Receivable, Recorded Investment [Line Items]
Loan-to-value ratio	90.00%
Minimum | Loan-to-Value Ratio Greater Than 100 Percent
Financing Receivable, Recorded Investment [Line Items]
Loan-to-value ratio	100.00%
Maximum | Loan-to-Value Ratio Less Than 60 Percent
Financing Receivable, Recorded Investment [Line Items]
Loan-to-value ratio	60.00%
Maximum | Loan-to-Value Ratio Between 60 Percent and 70 Percent
Financing Receivable, Recorded Investment [Line Items]
Loan-to-value ratio	70.00%
Maximum | Loan-to-Value Ratio Between 70 Percent and 80 Percent
Financing Receivable, Recorded Investment [Line Items]
Loan-to-value ratio	80.00%
Maximum | Loan-to-Value Ratio Between 80 Percent and 90 Percent
Financing Receivable, Recorded Investment [Line Items]
Loan-to-value ratio	90.00%
Maximum | Loan-to-Value Ratio Between 90 Percent and 100 Percent
Financing Receivable, Recorded Investment [Line Items]
Loan-to-value ratio	100.00%
Mortgage Loans Held for Investment
Financing Receivable, Recorded Investment [Line Items]
Unpaid principal balance	$ 365,258	$ 375,720
Mortgage Loans Held for Investment | Performing
Financing Receivable, Recorded Investment [Line Items]
Unpaid principal balance	294,527	283,770
Mortgage Loans Held for Investment | Nonperforming
Financing Receivable, Recorded Investment [Line Items]
Unpaid principal balance	70,731	91,950
Mortgage Loans Held for Investment | Loan-to-Value Ratio Less Than 60 Percent
Financing Receivable, Recorded Investment [Line Items]
Unpaid principal balance	40,213	42,438
Mortgage Loans Held for Investment | Loan-to-Value Ratio Between 60 Percent and 70 Percent
Financing Receivable, Recorded Investment [Line Items]
Unpaid principal balance	14,637	15,968
Mortgage Loans Held for Investment | Loan-to-Value Ratio Between 70 Percent and 80 Percent
Financing Receivable, Recorded Investment [Line Items]
Unpaid principal balance	22,472	25,190
Mortgage Loans Held for Investment | Loan-to-Value Ratio Between 80 Percent and 90 Percent
Financing Receivable, Recorded Investment [Line Items]
Unpaid principal balance	28,169	32,620
Mortgage Loans Held for Investment | Loan-to-Value Ratio Between 90 Percent and 100 Percent
Financing Receivable, Recorded Investment [Line Items]
Unpaid principal balance	35,844	33,708
Mortgage Loans Held for Investment | Loan-to-Value Ratio Greater Than 100 Percent
Financing Receivable, Recorded Investment [Line Items]
Unpaid principal balance	$ 223,923	$ 225,796

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Fair Value Measurements - Measured on a Recurring Basis (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012		Dec. 31, 2011
ASSETS
Mortgage servicing rights - fair value	$ 596,462		$ 251,050
Derivative instruments	53,193		11,302
Level 1
ASSETS
Mortgages loans held for sale	0		0
Derivative instruments	0		0
LIABILITIES
Derivative financial instruments	0		0
Level 2
ASSETS
Mortgages loans held for sale	837,906		458,626
Derivative instruments	53,193		11,302
LIABILITIES
Derivative financial instruments	18,911		12,370
Level 3
ASSETS
Mortgages loans held for sale	0		0
Derivative instruments	0		0
LIABILITIES
Derivative financial instruments	0		0
Fair Value, Measurements, Recurring | Total Fair Value
ASSETS
Mortgages loans held for sale	837,906	[1]	458,626	[1]
Mortgage servicing rights - fair value	596,462	[1]	251,050	[1]
Derivative instruments			11,302
Total assets	1,487,561		720,978
LIABILITIES
Excess spread financing (at fair value)	266,693		44,595
Total liabilities	285,604		56,965
Fair Value, Measurements, Recurring | Level 1
ASSETS
Mortgages loans held for sale	0	[1]	0	[1]
Mortgage servicing rights - fair value	0	[1]	0	[1]
Derivative instruments			0
Total assets	0		0
LIABILITIES
Excess spread financing (at fair value)	0		0
Total liabilities	0		0
Fair Value, Measurements, Recurring | Level 2
ASSETS
Mortgages loans held for sale	837,906	[1]	458,626	[1]
Mortgage servicing rights - fair value	0	[1]	0	[1]
Derivative instruments			11,302
Total assets	891,099		469,928
LIABILITIES
Excess spread financing (at fair value)	0		0
Total liabilities	18,911		12,370
Fair Value, Measurements, Recurring | Level 3
ASSETS
Mortgages loans held for sale	0	[1]	0	[1]
Mortgage servicing rights - fair value	596,462	[1]	251,050	[1]
Derivative instruments			0
Total assets	596,462		251,050
LIABILITIES
Excess spread financing (at fair value)	266,693		44,595
Total liabilities	266,693		44,595
Interest Rate Lock Commitments | Fair Value, Measurements, Recurring | Total Fair Value
ASSETS
Derivative instruments	53,193
Interest Rate Lock Commitments | Fair Value, Measurements, Recurring | Level 1
ASSETS
Derivative instruments	0
Interest Rate Lock Commitments | Fair Value, Measurements, Recurring | Level 2
ASSETS
Derivative instruments	53,193
Interest Rate Lock Commitments | Fair Value, Measurements, Recurring | Level 3
ASSETS
Derivative instruments	0
Interest Rate Swaps and Caps | Fair Value, Measurements, Recurring | Total Fair Value
LIABILITIES
Derivative financial instruments	6,778		6,540
Interest Rate Swaps and Caps | Fair Value, Measurements, Recurring | Level 1
LIABILITIES
Derivative financial instruments	0		0
Interest Rate Swaps and Caps | Fair Value, Measurements, Recurring | Level 2
LIABILITIES
Derivative financial instruments	6,778		6,540
Interest Rate Swaps and Caps | Fair Value, Measurements, Recurring | Level 3
LIABILITIES
Derivative financial instruments	0		0
Interest Rate Swap | Fair Value, Measurements, Recurring | Total Fair Value
LIABILITIES
Derivative financial instruments	1,243
Interest Rate Swap | Fair Value, Measurements, Recurring | Level 1
LIABILITIES
Derivative financial instruments	0
Interest Rate Swap | Fair Value, Measurements, Recurring | Level 2
LIABILITIES
Derivative financial instruments	1,243
Interest Rate Swap | Fair Value, Measurements, Recurring | Level 3
LIABILITIES
Derivative financial instruments	0
Forward Contracts | Fair Value, Measurements, Recurring | Total Fair Value
LIABILITIES
Derivative financial instruments	10,890		5,830
Forward Contracts | Fair Value, Measurements, Recurring | Level 1
LIABILITIES
Derivative financial instruments	0		0
Forward Contracts | Fair Value, Measurements, Recurring | Level 2
LIABILITIES
Derivative financial instruments	10,890		5,830
Forward Contracts | Fair Value, Measurements, Recurring | Level 3
LIABILITIES
Derivative financial instruments	$ 0		$ 0

[1] Based on the nature and risks of these assets and liabilities, the Company has determined that presenting them as a single class is appropriate.

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Derivative Financial Instruments - Statement of Operations Effect (Details) (Interest Rate Swap, Interest Expense, Cash Flow Hedging, USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Interest Rate Swap | Interest Expense | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	$ (423)	$ (1,210)	$ (423)	$ (1,071)
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	0	336	0	582
Amount of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)	$ 0	$ 514	$ 0	$ 1,416

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Disclosures Related to Transactions with Affiliates of Fortress Investment Group LLC

6 Months Ended

Jun. 30, 2012

Transactions With Affiliates of Fortress Investment Group LLC [Abstract]

Disclosures Related to Transactions with Affiliates of Fortress Investment Group LLC

Disclosures Related to Transactions with Affiliates of Fortress Investment Group LLC

Nationstar maintains a marketing agreement with Springleaf Home Equity, Inc., formerly known as American General Home Equity, Inc., Springleaf General Financial Services of Arkansas, Inc., formerly known as American General Financial Services of Arkansas, Inc. and MorEquity, Inc. (collectively “Springleaf”), each of which are indirectly owned by investment funds managed by affiliates of Fortress Investment Group LLC. Pursuant to this agreement, Nationstar markets mortgage originations products to customers of Springleaf, and is compensated by the originations fees of loans that Nationstar refinances.

Additionally, in January 2011, Nationstar entered into three agreements to act as the loan subservicer for Springleaf for a whole loan portfolio and two securitized loan portfolios totaling $4.4 billion for which Nationstar receives a monthly per loan subservicing fee and other performance incentive fees subject to the agreements with Springleaf. For the six months ended June 30,2012 and 2011, Nationstar recognized revenue of $5.1 million and $4.9 million, respectively, in additional servicing and other performance incentive fees related to these portfolios. For the three months ended June 30, 2012 and 2011, Nationstar recognized revenue of $2.5 million and $2.7 million , respectively, in additional servicing and other performance incentive fees related to these portfolios. At June 30, 2012 and December 31, 2011, Nationstar had an outstanding receivable from Springleaf of $0.5 million and $0.6 million, respectively, which was included as a component of accounts receivable.

Nationstar is the loan servicer for two securitized loan portfolios managed by Newcastle, which is managed by an affiliate of Fortress Investment Group LLC, for which Nationstar receives a monthly net servicing fee equal to 0.50% per annum on the unpaid principal balance of the portfolios, which was $1.0 billion and $1.2 billion, as of June 30, 2012 and 2011, respectively. For the three months ended June 30,2012 and 2011, Nationstar received servicing fees and other performance incentive fees of $1.3 million and $1.5 million, respectively. For the six months ended June 30,2012 and 2011, Nationstar received servicing fees and other performance incentive fees of $2.6 million and $3.0 million, respectively.

Additionally, from December 2011 through June 2012, Nationstar entered into several agreements with Newcastle, where Nationstar sold to Newcastle the right to receive approximately 65% of the excess cash flow generated from certain acquired MSRs after receipt of a fixed basic servicing fee per loan. Nationstar will retain all ancillary income associated with servicing such MSRs and 35% of the excess cash flow after receipt of the fixed basic servicing fee. Nationstar will continue to be the servicer of the loans and provide all servicing and advancing functions for the portfolio. Newcastle will not have prior or ongoing obligations associated with this MSR portfolio. Furthermore, should Nationstar refinance any loan in such portfolio, subject to certain limitations, Nationstar will be required to transfer the new loan or a replacement loan of similar economic characteristics into the portfolio. The new or replacement loan will be governed by the same terms set forth in the agreement described above.

The fair value on the outstanding liability related to these agreements was $266.7 million at June 30, 2012. Additionally, as a component of the underlying agreements, Newcastle held back a portion of the sales price, amounting to $34.5 million, pending certain conditions being satisfied by Nationstar. Such amount is recorded in accounts receivable and is expected to be received in third quarter 2012.

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Indebtedness - Unsecured Senior Notes (Details) (USD $)								1 Months Ended		1 Months Ended
	Jun. 30, 2012	Dec. 31, 2011	Jun. 30, 2012 Unsecured Senior Notes	Jun. 30, 2012 Unsecured Senior Notes Unsecured Senior Notes 10.875% Due April 2015	Dec. 31, 2011 Unsecured Senior Notes Unsecured Senior Notes 10.875% Due April 2015	Jun. 30, 2012 Unsecured Senior Notes Unsecured Senior Notes 9.625% Due May 2019	Dec. 31, 2011 Unsecured Senior Notes Unsecured Senior Notes 9.625% Due May 2019	Mar. 31, 2010 March 2010 Issuance Period Unsecured Senior Notes Unsecured Senior Notes 10.875% Due April 2015	Dec. 31, 2011 March 2010 Issuance Period Unsecured Senior Notes Unsecured Senior Notes 10.875% Due April 2015	Dec. 31, 2011 December 2011 Issuance Period Unsecured Senior Notes Unsecured Senior Notes 10.875% Due April 2015	Apr. 30, 2012 April 2012 Issuance Period Unsecured Senior Notes Unsecured Senior Notes 9.625% Due May 2019
Debt Instrument
Unsecured senior notes	$ 555,938,000	$ 280,199,000		$ 280,938,000	$ 280,199,000	$ 275,000,000	$ 0
Principal amount			560,000,000					250,000,000	285,000,000,000	35,000,000	275,000,000
Debt issuance discount								7,000,000		300,000
Net cash proceeds								$ 243,000,000		$ 34,700,000	$ 269,500,000
Interest rate					10.875%						9.625%

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Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Effect of Derivative Instruments on the Statement of Operations

The Effect of Derivative Instruments on the Statement of Operations

(in thousands)

Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Location of Gain (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of  Gain (Loss) Recognized in Income on Derivative (Ineffective Portion)
For the three months ended June 30, 2012
Interest Rate Swap	$	(423	)	Interest Expense	$	—	Interest Expense	$	—
For the three months ended June 30, 2011
Interest Rate Swap	$	(1,210	)	Interest Expense	$	336	Interest Expense	$	514
For the six months ended June 30, 2012
Interest Rate Swap	$	(423	)	Interest Expense	$	—	Interest Expense	$	—
For the six months ended June 30, 2011
Interest Rate Swap	$	(1,071	)	Interest Expense	$	582	Interest Expense	$	1,416

Schedule of Derivative Instruments

The following tables provide the outstanding notional balances and fair values of outstanding positions for the dates indicated, and recorded gains/(losses) during the periods indicated (in thousands):

	Expiration Dates	Outstanding Notional		Fair Value		Recorded Gains / (Losses)
For the six months ended June 30, 2012
MORTGAGE LOANS HELD FOR SALE
Loan sale commitments	2012	$	7,782	$	306	$	(328	)
OTHER ASSETS
IRLCs	2012	2,443,489		53,193		41,891
LIABILITIES
Interest rate swaps and caps	2012-2015	675,124		6,778		188
Interest rate swaps on ABS debt (1)	2012-2017	963,973		1,243		(813		)
Forward MBS trades	2012	2,154,800		10,890		(5,060		)
Year ended December 31,2011
MORTGAGE LOANS HELD FOR SALE
Loan sale commitments	2012	$	28,047	$	634	$	592
OTHER ASSETS
IRLCs	2012	736,377		11,302		6,598
LIABILITIES
Interest rate swaps and caps	2012-2015	193,500		6,540		1,261
Forward MBS trades	2012	691,725		5,830		(9,792		)
Interest rate swap, subject to ABS nonrecourse debt (2)	—	—		—		(8,058		)

(1) In March 2012, Nationstar received interest rate swaps from FIF as a part of the reorganization.

(2) In December 2011, Nationstar sold its remaining variable interest in a securitization trust that had been a consolidated VIE since January 1, 2010 and deconsolidated the VIE. Upon deconsolidation of this VIE, Nationstar derecognized the related ABS nonrecourse debt and therefore the underlying interest rate swap, subject to ABS nonrecourse debt.

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Fair Value Measurements

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

ASC 820, Fair Value Measurements and Disclosures, provides a definition of fair value, establishes a framework for measuring fair value, and requires expanded disclosures about fair value measurements. The standard applies when GAAP requires or allows assets or liabilities to be measured at fair value and, therefore, does not expand the use of fair value in any new circumstance.

ASC 820 emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, ASC 820 establishes a three-tiered fair value hierarchy based on the level of observable inputs used in the measurement of fair value (e.g., Level 1 representing quoted prices for identical assets or liabilities in an active market; Level 2 representing values using observable inputs other than quoted prices included within Level 1; and Level 3 representing estimated values based on significant unobservable inputs). In addition, ASC 820 requires an entity to consider all aspects of nonperformance risk, including its own credit standing, when measuring the fair value of a liability. Under ASC 820, related disclosures are segregated for assets and liabilities measured at fair value based on the level used within the hierarchy to determine their fair values.

The following describes the methods and assumptions used by Nationstar in estimating fair values:

Cash and Cash Equivalents, Restricted Cash – The carrying amount reported in the consolidated balance sheets approximates fair value.

Mortgage Loans Held for Sale – Nationstar originates mortgage loans in the U.S. that it intends to sell to Fannie Mae, Freddie Mac, and Ginnie Mae (collectively, the Agencies). Additionally, Nationstar holds mortgage loans that it intends to sell into the secondary markets via whole loan sales or securitizations. Nationstar measures newly originated prime residential mortgage loans held for sale at fair value.

Mortgage loans held for sale are typically pooled together and sold into certain exit markets, depending upon underlying attributes of the loan, such as agency eligibility, product type, interest rate, and credit quality. Mortgage loans held for sale are valued using a market approach by utilizing either: (i) the fair value of securities backed by similar mortgage loans, adjusted for certain factors to approximate the fair value of a whole mortgage loan, including the value attributable to mortgage servicing and credit risk, (ii) current commitments to purchase loans or (iii) recent observable market trades for similar loans, adjusted for credit risk and other individual loan characteristics. As these prices are derived from quoted market prices, Nationstar classifies these valuations as Level 2 in the fair value disclosures.

Mortgage Loans Held for Investment, subject to nonrecourse debt – Legacy Assets – Nationstar determines the fair value of loans held for investment, subject to nonrecourse debt – Legacy Assets using internally developed valuation models. These valuation models estimate the exit price Nationstar expects to receive in the loan’s principal market. Although Nationstar utilizes and gives priority to observable market inputs such as interest rates and market spreads within these models, Nationstar typically is required to utilize internal inputs, such as prepayment speeds, credit losses, and discount rates. These internal inputs require the use of judgment by Nationstar and can have a significant impact on the determination of the loan’s fair value. As these prices are derived from a combination of internally developed valuation models and quoted market prices, Nationstar classifies these valuations as Level 3 in the fair value disclosures.

Mortgage Servicing Rights – Fair Value – Nationstar recognizes MSRs related to all existing residential mortgage loans transferred to a third party in a transfer that meets the requirements for sale accounting and for which the servicing rights are retained. Additionally, Nationstar may acquire the rights to service residential mortgage loans that do not relate to assets transferred by Nationstar through the purchase of these rights from third parties. Nationstar estimates the fair value of its forward MSRs using a process that combines the use of a discounted cash flow model and analysis of current market data to arrive at an estimate of fair value. The cash flow assumptions and prepayment assumptions used in the model are based on various factors, with the key assumptions being mortgage prepayment speeds and discount rates. These assumptions are generated and applied based on collateral stratifications including product type, remittance type, geography, delinquency and coupon dispersion. These assumptions require the use of judgment by Nationstar and can have a significant impact on the determination of the MSR’s fair value. Periodically, management obtains third party valuations of a portion of the portfolio to assess the reasonableness of the fair value calculations provided by the cash flow model. Because of the nature of the valuation inputs, Nationstar classifies these valuations as Level 3 in the fair value disclosures.

Reverse Mortgage Interests – Nationstar’s reverse mortgage advances consist of fees paid to taxing authorities for borrowers unpaid taxes and insurance, and payments made to borrowers for line of credit draws on reverse mortgages. These advances include due and payable advances, which are recovered upon the foreclosure and sale of the subject property, and defaulted advances that can be securitized. Nationstar estimates the fair value using a market approach by utilizing the fair value of securities backed by similar advances on reverse mortgage loans, adjusted for certain factors. Nationstar classifies these valuations as Level 2 in the fair value disclosures.

REO – Nationstar determines the fair value of REO properties through the use of third-party appraisals and broker price opinions, adjusted for estimated selling costs. Such estimated selling costs include realtor fees and other anticipated closing costs. These values are adjusted to take into account factors that could cause the actual liquidation value of foreclosed properties to be different than the appraised values. This valuation adjustment is based upon Nationstar’s historical experience with REO. REO is classified as Level 3 in the fair value disclosures.

Derivative Instruments – Nationstar enters into a variety of derivative financial instruments as part of its hedging strategy. The majority of these derivatives are exchange-traded or traded within highly active dealer markets. In order to determine the fair value of these instruments, Nationstar utilizes the exchange price or dealer market price for the particular derivative contract; therefore, these contracts are classified as Level 2. In addition, Nationstar enters into IRLCs with prospective borrowers. These commitments are carried at fair value based on fair value of related mortgage loans which is based on observable market data. Nationstar adjusts the outstanding IRLCs with prospective borrowers based on an expectation that it will be exercised and the loan will be funded. IRLCs are recorded in other assets in the consolidated balance sheets. These IRLCs are classified as Level 2 in the fair value disclosures.

Notes Payable – Notes payable consists of outstanding borrowing on Nationstar's warehouse and advance financing facilities. As the underlying warehouse and advance finance facilities bear interest at a rate that is periodically adjusted based on a market index, the carrying amount reported on the consolidated balance sheet approximates fair value. Nationstar classifies these valuations as Level 3 in the fair value disclosures.

Unsecured Senior Notes – The fair value of unsecured senior notes is based on quoted market prices and is considered Level 1 from the market observable inputs used to determine fair value.

Nonrecourse Debt – Legacy Assets – Nationstar estimates fair value based on the present value of future expected discounted cash flows with the discount rate approximating current market value for similar financial instruments. These prices are derived from a combination of internally developed valuation models and quoted market prices, and are classified as Level 3.

Excess Spread Financing – Nationstar estimates fair value based on the present value of future expected discounted cash flows with the discount rate approximating current market value for similar financial instruments. The cash flow assumptions and prepayment assumptions used in the model are based on various factors, with the key assumptions at June 30, 2012 being mortgage prepayment speeds of 19.0%, average life of 3.6 years, and discount rate of 14.8%. Changes in fair value to the excess spread financing are recorded as a component of service fee income in Nationstar's consolidated statement of operations. As these prices are derived from a combination of internally developed valuation models and quoted market prices based on the value of the underlying MSRs, Nationstar classifies these valuations as Level 3 in the fair value disclosures.

Participating Interest Financing – Nationstar estimates the fair value using a market approach by utilizing the fair value of securities backed by similar participating interests in reverse mortgage loans. Nationstar classifies these valuations as Level 2 in the fair value disclosures.

The estimated carrying amount and fair value of Nationstar’s financial instruments and other assets and liabilities measured at fair value on a recurring basis is as follows for the dates indicated (in thousands):

			June 30, 2012
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
ASSETS
Mortgage loans held for sale(1)	$	837,906	$	—	$	837,906	$	—
Mortgage servicing rights – fair value(1)	596,462		—		—		596,462
Other assets:
IRLCs	53,193		—		53,193		—
Total assets	$	1,487,561	$	—	$	891,099	$	596,462
LIABILITIES
Derivative financial instruments
Interest rate swaps and caps	$	6,778	$	—	$	6,778	$	—
Interest rate swaps on ABS debt	1,243		—		1,243		—
Forward MBS trades	10,890		—		10,890		—
Excess spread financing (at fair value)	266,693		—		—		266,693
Total liabilities	$	285,604	$	—	$	18,911	$	266,693
			December 31, 2011
			Recurring Fair Value Measurements
	Total Fair Value		Level 1		Level 2		Level 3
ASSETS
Mortgage loans held for sale(1)	$	458,626	$	—	$	458,626	$	—
Mortgage servicing rights – fair value(1)	251,050		—		—		251,050
Other assets:
IRLCs	11,302		—		11,302		—
Total assets	$	720,978	$	—	$	469,928	$	251,050
LIABILITIES
Derivative financial instruments
Interest rate swaps and caps	$	6,540	$	—	$	6,540	$	—
Forward MBS trades	5,830		—		5,830		—
Excess spread financing (at fair value)	44,595		—		—		44,595
Total liabilities	$	56,965	$	—	$	12,370	$	44,595

(1) Based on the nature and risks of these assets and liabilities, the Company has determined that presenting them as a single class is appropriate.

The table below presents a reconciliation for all of Nationstar’s Level 3 assets and liabilities measured at fair value on a recurring basis for the dates indicated (in thousands):

	ASSETS			LIABILITIES
For the three months ended June 30, 2012	Mortgage servicing rights			Excess spread financing
Beginning balance	$	266,169		$	47,324
Transfers into Level 3	—			—
Transfers out of Level 3	—			—
Total gains or losses
Included in earnings	(20,875		)	2,412
Included in other comprehensive income	—			—
Purchases, issuances, sales and settlements
Purchases	340,106			—
Issuances	11,062			220,374
Sales	—			—
Settlements	—			(3,417		)
Ending balance	$	596,462		$	266,693

	ASSETS			LIABILITIES
For the six months ended June 30, 2012	Mortgage servicing rights			Excess spread financing
Beginning balance	$	251,050		$	44,595
Transfers into Level 3	—			—
Transfers out of Level 3	—			—
Total gains or losses
Included in earnings	(20,380		)	7,263
Included in other comprehensive income	—			—
Purchases, issuances, sales and settlements
Purchases	341,664			—
Issuances	24,128			220,342
Sales	—			—
Settlements	—			(5,507		)
Ending balance	$	596,462		$	266,693

	ASSETS			LIABILITIES
For the year ending December 31, 2011	Mortgage servicing rights			Excess spread financing
Beginning balance	$	145,062		$	—
Transfers into Level 3	—			—
Transfers out of Level 3	—			—
Total gains or losses
Included in earnings	(39,000		)	3,060
Included in other comprehensive income	—			—
Purchases, issuances, sales and settlements
Purchases	102,800			—
Issuances	36,474			43,742
Sales	—			—
Settlements	5,714			(2,207		)
Ending balance	$	251,050		$	44,595

The table below presents the items which Nationstar measures at fair value on a nonrecurring basis (in thousands).

	Nonrecurring Fair Value Measurements						Total Estimated Fair Value		Total Gains (Losses) Included in Earnings
	Level 1		Level 2		Level 3
Three months ended June 30, 2012
Assets
REO(1)	$	—	$	—	$	3,429	$	3,429	$	(1,490	)
Total assets	$	—	$	—	$	3,429	$	3,429	$	(1,490	)
Six months ended June 30, 2012
Assets
REO(1)	$	—	$	—	$	3,429	$	3,429	$	(3,755	)
Total assets	$	—	$	—	$	3,429	$	3,429	$	(3,755	)
Year ended December 31,2011
Assets
REO(1)	$	—	$	—	$	3,668	$	3,668	$	(6,833	)
Total assets	$	—	$	—	$	3,668	$	3,668	$	(6,833	)

(1) Based on the nature and risks of these assets and liabilities, the Company has determined that presenting them as a single class is appropriate.

The table below presents a summary of the estimated carrying amount and fair value of Nationstar’s financial instruments (in thousands).

	June 30, 2012
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	15,892	$	15,892	$	—	$	—
Restricted cash	119,512		119,512		—		—
Mortgage loans held for sale	837,906		—		837,906		—
Mortgage loans held for investment, subject to nonrecourse debt – Legacy assets	238,173		—		—		229,010
Reverse mortgage interests	310,074		—		310,074		—
Derivative instruments	53,193		—		53,193		—
Financial liabilities:
Notes payable	2,412,364		—		—		2,412,364
Unsecured senior notes	555,938		599,842		—		—
Derivative financial instruments	18,911		—		18,911		—
Nonrecourse debt - Legacy assets	106,271		—		—		107,640
Excess spread financing	266,693		—		—		266,693
Participating interest financing	181,114		—		181,114		—
	December 31, 2011
	Carrying Amount		Fair Value
			Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	62,445	$	62,445	$	—	$	—
Restricted cash	71,499		71,499		—		—
Mortgage loans held for sale	458,626		—		458,626		—
Mortgage loans held for investment, subject to nonrecourse debt – Legacy assets	243,480		—		—		226,890
Derivative instruments	11,302		—		11,302		—
Financial liabilities:
Notes payable	873,179		—		—		873,179
Unsecured senior notes	280,199		282,150		—		—
Derivative financial instruments	12,370		—		12,370		—
Nonrecourse debt - Legacy assets	112,490		—		—		114,037
Excess spread financing	44,595		—		—		44,595

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Subsequent Events (Details) (Unsecured Senior Notes, USD $)		0 Months Ended	1 Months Ended
	Jun. 30, 2012	Jul. 19, 2012 Unsecured Senior Notes 9.625% Due May 2019 July 2012 Issuance Period Subsequent Event Issuance of Debt	Apr. 30, 2012 Unsecured Senior Notes 9.625% Due May 2019 April 2012 Issuance Period
Subsequent Event [Line Items]
Principal amount	$ 560,000,000	$ 100,000,000	$ 275,000,000
Interest rate		9.625%	9.625%
Debt issuance premium		5,500,000
Net cash proceeds		$ 104,000,000	$ 269,500,000