INVESTMENTS IN SERVICER ADVANCES - JV Investment in Servicer Advances (Details) (USD $) In Thousands, unless otherwise specified	Sep. 30, 2014	Jul. 08, 2014	May 13, 2014	May 12, 2014	Jan. 17, 2014	Dec. 31, 2013	Sep. 30, 2014 Servicer Advance Joint Venture		Dec. 31, 2013 Servicer Advance Joint Venture		Dec. 17, 2013 Servicer Advance Joint Venture	Sep. 30, 2014 Servicer Advance Joint Venture Servicer Advances		Dec. 31, 2013 Servicer Advance Joint Venture Servicer Advances
Investment [Line Items]
Unpaid principal balance of underlying loans	$ 99,041,165	$ 2,100,000	$ 700,000	$ 12,800,000	$ 8,100,000							$ 97,398,297	[1]	$ 43,444,216	[1]
Servicer advances, Outstanding	3,214,113					2,665,551	3,214,113	[2]	2,665,551	[2]	3,200,000	3,041,905	[1]	2,661,130	[1]
Servicer Advances to UPB of underlying loans												3.10%	[1]	6.10%	[1]
Notes payable												$ 2,824,007	[1]	$ 2,390,778	[1]
Gross Loan-to-Value												91.50%	[1]	89.80%	[1]
Net Loan-to-Value												90.50%	[1],[3]	88.60%	[1],[3]
Gross cost of funds												3.00%	[1],[4]	4.00%	[1],[4]
Net cost of funds												2.20%	[1],[4]	2.30%	[1],[4]

[1] The following types of advances comprise the investments in servicer advances: September 30, 2014December 31, 2013Principal and interest advances$792,875$1,516,715Escrow advances (taxes and insurance advances)1,556,968934,525Foreclosure advances692,062209,890 Total$3,041,905$2,661,130

[2] Carrying value represents the fair value of the investments in servicer advances, including the basic fee component of the related MSRs.

[3] Ratio of face amount of borrowings to par amount of servicer advance collateral, net of an interest reserve maintained by the Buyer.

[4] Annualized measure of the cost associated with borrowings. Gross Cost of Funds primarily includes interest expense and facility fees. Net Cost of Funds excludes facility fees.