Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION - Summary of Preliminary Purchase Price Allocation (Details)

ORGANIZATION - Summary of Preliminary Purchase Price Allocation (Details) - Apr. 06, 2015 - HLSS [Member] - USD ($)
$ in Thousands
Business Acquisition [Line Items]  
Total Consideration $ 1,491,248
Cash and cash equivalents 51,500
Servicer advances, at fair value 5,098,200
Excess mortgage servicing rights, at fair value 919,500
Residential mortgage loans, held-for-sale [1] 418,800
Deferred tax asset [2] 186,800
Restricted cash 46,000
Other assets [3] 405,300
Total Assets Acquired 7,126,100
Notes payable 5,583,000
Deferred tax liabilities (700)
Accrued expenses and other liabilities(D)(E) [4],[5] 52,600
Total Liabilities Assumed 5,634,900
Net Assets $ 1,491,200
[1] Represents $424.3 million UPB of GNMA early buy-out (“EBO”) residential mortgage loans not subject to ASC No. 310-30 as the contractual cash flows are guaranteed by the Federal Housing Administration (“FHA”).
[2] Due to the difference between carryover historical tax basis and acquisition date fair value of one of HLSS’s first tier subsidiaries.
[3] Includes restricted cash and receivables not subject to ASC No. 310-30 which New Residential has deemed fully collectible.
[4] Contingencies for HLSS class action law suits have not been recognized at the acquisition date as the criteria in ASC No. 450 have not been met (Note 14).
[5] Includes liabilities arising from contingencies regarding ongoing HLSS matters (Note 14).