Acquisitions

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Acquisitions

Acquisitions. During 2014, the Company completed acquisitions of three companies that provide collateral valuation, appraisal services, settlement services, title and closing services, and quality control and loan file review services for an aggregate purchase price of $40.0 million, net of liabilities assumed. The acquisitions were primarily funded by borrowings on the Company’s unsecured line of credit. The Company has recorded fair value estimates for the assets acquired, liabilities assumed and estimated goodwill of $20.0 million, based on the completion of the Company’s purchase price allocation as of December 31, 2014. During 2015, the Company recorded purchase adjustments of $5.3 million related to the remeasurement of assumed liabilities related to these acquisitions (refer to Note 8). During 2016, the Company sold the quality control services operations, along with other activities within the ancillary services operations (refer to Note 21).