Schedule of Segment Reporting Information |
Financial information for our segments is as follows: | | | | | | | | | | | | | | | | | | | | | | Servicing | | Lending | | Corporate Items and Other | | Corporate Eliminations | | Business Segments Consolidated | Results of Operations | | | | | | | | | | For the year ended December 31, 2014 | | | | | | | | | | Revenue (1) | $ | 1,985,436 |
| | $ | 119,220 |
| | $ | 6,825 |
| | $ | (156 | ) | | $ | 2,111,325 |
| Operating expenses (1) (2) | 1,643,323 |
| | 156,272 |
| | 235,769 |
| | (156 | ) | | 2,035,208 |
| Income (loss) from operations | 342,113 |
| | (37,052 | ) | | (228,944 | ) | | — |
| | 76,117 |
| Other income (expense): | | | | | | | | | | Interest income | 2,981 |
| | 16,459 |
| | 3,551 |
| | — |
| | 22,991 |
| Interest expense | (515,141 | ) | | (10,725 | ) | | (15,891 | ) | | — |
| | (541,757 | ) | Other (1) | (4,043 | ) | | 4,476 |
| | (943 | ) | | — |
| | (510 | ) | Other income (expense), net | (516,203 | ) | | 10,210 |
| | (13,283 | ) | | — |
| | (519,276 | ) | Loss before income taxes | $ | (174,090 | ) | | $ | (26,842 | ) | | $ | (242,227 | ) | | $ | — |
| | $ | (443,159 | ) | | | | | | | | | | | For the year ended December 31, 2013 | | | | | | | | | | Revenue (1) | $ | 1,895,921 |
| | $ | 120,899 |
| | $ | 22,092 |
| | $ | (639 | ) | | $ | 2,038,273 |
| Operating expenses (1) (2) | 1,096,084 |
| | 98,194 |
| | 107,188 |
| | (172 | ) | | 1,301,294 |
| Income (loss) from operations | 799,837 |
| | 22,705 |
| | (85,096 | ) | | (467 | ) | | 736,979 |
| Other income (expense): | | | | | | | | | | Interest income | 1,599 |
| | 16,295 |
| | 4,461 |
| | — |
| | 22,355 |
| Interest expense | (381,477 | ) | | (13,508 | ) | | (601 | ) | | — |
| | (395,586 | ) | Other (1) | (28,292 | ) | | 10,132 |
| | 6,424 |
| | 467 |
| | (11,269 | ) | Other income (expense), net | (408,170 | ) | | 12,919 |
| | 10,284 |
| | 467 |
| | (384,500 | ) | Income (loss) before income taxes | $ | 391,667 |
| | $ | 35,624 |
| | $ | (74,812 | ) | | $ | — |
| | $ | 352,479 |
| | | | | | | | | | | For the year ended December 31, 2012 | | | | | | | | | | Revenue (1) | $ | 840,630 |
| | $ | 356 |
| | $ | 5,122 |
| | $ | (905 | ) | | $ | 845,203 |
| Operating expenses (1) (2) | 344,315 |
| | 409 |
| | 19,667 |
| | (484 | ) | | 363,907 |
| Income (loss) from operations | 496,315 |
| | (53 | ) | | (14,545 | ) | | (421 | ) | | 481,296 |
| Other income (expense): | |
| | |
| | |
| | |
| | |
| Interest income | 9 |
| | 309 |
| | 8,011 |
| | — |
| | 8,329 |
| Interest expense | (221,948 | ) | | (514 | ) | | (993 | ) | | — |
| | (223,455 | ) | Other (1) | (13 | ) | | — |
| | (9,070 | ) | | 421 |
| | (8,662 | ) | Other income (expense), net | (221,952 | ) | | (205 | ) | | (2,052 | ) | | 421 |
| | (223,788 | ) | Income (loss) before income taxes | $ | 274,363 |
| | $ | (258 | ) | | $ | (16,597 | ) | | $ | — |
| | $ | 257,508 |
|
| | | | | | | | | | | | | | | | | | | | | | Servicing | | Lending | | Corporate Items and Other | | Corporate Eliminations | | Business Segments Consolidated | Total Assets | |
| | |
| | |
| | |
| | |
| December 31, 2014 | $ | 5,881,862 |
| | $ | 1,963,729 |
| | $ | 421,687 |
| | $ | — |
| | $ | 8,267,278 |
| | | | | | | | | | | December 31, 2013 | $ | 6,295,976 |
| | $ | 1,195,812 |
| | $ | 435,215 |
| | $ | — |
| | $ | 7,927,003 |
| | | | | | | | | | | December 31, 2012 | $ | 4,575,489 |
| | $ | 476,434 |
| | $ | 634,039 |
| | $ | — |
| | $ | 5,685,962 |
|
| | (1) | Intersegment billings for services rendered to other segments are recorded as revenues, as contra-expense or as other income, depending on the type of service that is rendered. |
(2)Depreciation and amortization expense are as follows: | | | | | | | | | | | | | | | | | | Servicing | | Lending | | Corporate Items and Other | | Business Segments Consolidated | For the year ended December 31, 2014: | |
| | |
| | |
| | |
| Depreciation expense | $ | 9,955 |
| | $ | 332 |
| | $ | 11,623 |
| | $ | 21,910 |
| Amortization of MSRs | 249,471 |
| | 705 |
| | 199 |
| | 250,375 |
| Amortization of debt discount | 1,318 |
| | — |
| | — |
| | 1,318 |
| Amortization of debt issuance costs | 4,294 |
| | — |
| | 845 |
| | 5,139 |
| | | | | | | | | For the year ended December 31, 2013: | |
| | |
| | |
| | |
| Depreciation expense | $ | 13,525 |
| | $ | 320 |
| | $ | 10,400 |
| | $ | 24,245 |
| Amortization of MSRs | 282,526 |
| | 255 |
| | — |
| | 282,781 |
| Amortization of debt discount | 1,412 |
| | — |
| | — |
| | 1,412 |
| Amortization of debt issuance costs | 4,395 |
| | — |
| | — |
| | 4,395 |
| | | | | | | | | For the year ended December 31, 2012: | |
| | |
| | |
| | |
| Depreciation expense | $ | 1,469 |
| | $ | 8 |
| | $ | 4,243 |
| | $ | 5,720 |
| Amortization of MSRs | 72,897 |
| | — |
| | — |
| | 72,897 |
| Amortization of debt discount | 3,259 |
| | — |
| | — |
| | 3,259 |
| Amortization of debt issuance costs | 3,718 |
| | — |
| | — |
| | 3,718 |
|
|
Schedule of Segment Reporting Information |
Depreciation and amortization expense are as follows: | | | | | | | | | | | | | | | | | | Servicing | | Lending | | Corporate Items and Other | | Business Segments Consolidated | For the year ended December 31, 2014: | |
| | |
| | |
| | |
| Depreciation expense | $ | 9,955 |
| | $ | 332 |
| | $ | 11,623 |
| | $ | 21,910 |
| Amortization of MSRs | 249,471 |
| | 705 |
| | 199 |
| | 250,375 |
| Amortization of debt discount | 1,318 |
| | — |
| | — |
| | 1,318 |
| Amortization of debt issuance costs | 4,294 |
| | — |
| | 845 |
| | 5,139 |
| | | | | | | | | For the year ended December 31, 2013: | |
| | |
| | |
| | |
| Depreciation expense | $ | 13,525 |
| | $ | 320 |
| | $ | 10,400 |
| | $ | 24,245 |
| Amortization of MSRs | 282,526 |
| | 255 |
| | — |
| | 282,781 |
| Amortization of debt discount | 1,412 |
| | — |
| | — |
| | 1,412 |
| Amortization of debt issuance costs | 4,395 |
| | — |
| | — |
| | 4,395 |
| | | | | | | | | For the year ended December 31, 2012: | |
| | |
| | |
| | |
| Depreciation expense | $ | 1,469 |
| | $ | 8 |
| | $ | 4,243 |
| | $ | 5,720 |
| Amortization of MSRs | 72,897 |
| | — |
| | — |
| | 72,897 |
| Amortization of debt discount | 3,259 |
| | — |
| | — |
| | 3,259 |
| Amortization of debt issuance costs | 3,718 |
| | — |
| | — |
| | 3,718 |
|
|