ACQUISITION OF ACRE CAPITAL (Tables)

3 Months Ended

Mar. 31, 2014

ACQUISITION OF ACRE CAPITAL

Summary of the amounts of identified assets acquired and liabilities assumed

The following table summarizes the purchase price allocation recorded as of the Acquisition Date, including retrospective adjustments during the measurement period ($ in thousands):

Assets acquired:
Cash	$	1,157
Restricted cash	15,586
Loans held for sale	22,154
Mortgage servicing rights	61,236
Intangible assets	5,000
Derivative assets	182
Risk-sharing indemnification	3,703
Other assets	4,748
Total assets acquired	$	113,766
Liabilities assumed:
Warehouse lines of credit	$	14,472
Allowance for loss sharing	18,386
Accounts payable and accrued expenses	4,748
Other liabilities (1)	10,795
Total liabilities assumed	$	48,401
Net Assets Acquired	$	65,365

(1) Other liabilities includes a $6 million payable incurred in connection with the close of the transaction.