Quarterly report pursuant to Section 13 or 15(d)

OTHER INCOME, ASSETS AND LIABILITIES

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OTHER INCOME, ASSETS AND LIABILITIES
6 Months Ended
Jun. 30, 2015
Other Income Assets And Liabilities  
OTHER INCOME, ASSETS AND LIABILITIES
OTHER INCOME, ASSETS AND LIABILITIES
 
Other income, net, is comprised of the following:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Unrealized gain (loss) on derivative instruments
$
(1,229
)
 
$
(3,801
)
 
$
(8,259
)
 
$
(2,444
)
Gain (loss) on transfer of loans to REO
347

 
6,694

 
(197
)
 
6,694

Gain on consumer loans investment
8,510

 

 
18,957

 

Other income (loss)
808

 

 
(28
)
 

 
$
8,436

 
$
2,893

 
$
10,473

 
$
4,250


 
Gain on settlement of investments, net is comprised of the following:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Gain (loss) on sale of real estate securities, net
$
(17,921
)
 
$
57,284

 
$
6,776

 
$
61,776

Gain (loss) on sale of residential mortgage loans, net
11,795

 

 
32,625

 

Gain (loss) on settlement of derivatives
13,769

 
(3,648
)
 
(8,821
)
 
(3,783
)
Gain (loss) on liquidated residential mortgage loans, held-for-investment
(277
)
 

 
123

 

Gain (loss) on sale of REO(A)
(2,201
)
 
(1,097
)
 
(7,837
)
 
(643
)
Other gains (losses)
(3,964
)
 

 
(6,898
)
 
(454
)
 
$
1,201

 
$
52,539

 
$
15,968

 
$
56,896


(A)
Includes approximately $3.2 million loss on REO sold as a part of the residential mortgage loan sales described in Note 8 during the six months ended June 30, 2015.

Other assets and liabilities are comprised of the following:
 
Other Assets
 
 
 
Accrued Expenses
and Other Liabilities
 
June 30, 2015
 
December 31, 2014
 
 
 
June 30, 2015
 
December 31, 2014
Margin receivable, net
$
54,530

 
$
59,021

 
Interest payable
 
$
15,607

 
$
7,857

Other receivables(A)
23,351

 
1,797

 
Accounts payable
 
35,788

 
28,059

Deferred financing costs, net(B)

 

 
Derivative liabilities
 
16,124

 
14,220

Principal paydown receivable
1,510

 
3,595

 
Current taxes payable
 
7,449

 
2,349

Receivable from government agency(C)
75,524

 
9,108

 
Contingent consideration (Note 1)
 
50,000

 

Call rights
680

 
3,728

 
Other liabilities
 
9,351

 
20

Interest receivable
31,509

 
8,658

 
 
 
$
134,319

 
$
52,505

GNMA EBO servicer advance receivable(D)
69,387

 

 
 
 
 
 
 
Other assets(E)
22,119

 
9,516

 
 
 
 
 
 
 
$
278,610

 
$
95,423

 
 
 
 
 
 

(A)
Primarily includes advance collections that were in-transit to pay down related debt obligations.
(B)
Deferred financing costs were reclassified as an offset to the related debt obligation in June 2015 pursuant to ASU No. 2015-03 (Note 1).
(C)
Represents claims receivable from FHA on EBO and reverse mortgage loans for which foreclosure has been completed and for which New Residential has made or intends to make a claim on the FHA guarantee.
(D)
Represents GNMA EBO servicer advances funded by HLSS and accounted for as a financing transaction as the counterparty retained title and all other rights and rewards associated with such advances.
(E)
Primarily includes prepaid expenses.

As reflected on the Condensed Consolidated Statements of Cash Flows, accretion and other amortization is comprised of the following:
 
 
Six Months Ended June 30,
 
 
2015
 
2014
Accretion of servicer advance interest income
 
$
150,937

 
$
102,823

Accretion of excess mortgage servicing rights income
 
49,397

 
24,789

Accretion of net discount on securities and loans
 
19,703

 
12,477

Amortization of deferred financing costs
 
(10,900
)
 
(5,750
)
 
 
$
209,137

 
$
134,339