Quarterly report pursuant to Section 13 or 15(d)

OTHER INCOME, ASSETS AND LIABILITIES (Tables)

v2.4.0.8
OTHER INCOME, ASSETS AND LIABILITIES (Tables)
6 Months Ended
Jun. 30, 2014
Other Income Assets And Liabilities  
Schedule of other income
Other income is comprised of the following:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2014
 
2013
 
2014
 
2013
 
 
 
 
 
 
 
 
Gain (loss) on derivative instruments
$
(3,801
)
 
$

 
$
(2,444
)
 
$

Gain (loss) on transfer of loans to REO
6,694

 

 
6,694

 

 
$
2,893

 
$

 
$
4,250

 
$

Schedule of other assets and other liabilities
Other assets and liabilities are comprised of the following:
 
Other Assets
 
 
 
Accrued Expenses and Other Liabilities
 
June 30, 2014
 
December 31, 2013
 
 
 
June 30, 2014
 
December 31, 2013
Margin receivable
$
772

 
$
40,132

 
Interest payable
 
$
2,185

 
$
4,010

Interest and other receivables
5,936

 
7,548

 
Accounts payable
 
4,950

 
2,829

Deferred financing costs, net(A)
5,554

 
4,773

 
Derivative liability
 

 
18

Real estate owned(B)
30,976

 

 
Current taxes payable
 
527

 

Other assets
3,517

 
689

 
Other liabilities
 
917

 

 
$
46,755

 
$
53,142

 
 
 
$
8,579

 
$
6,857


(A)
Deferred financing costs is net of accumulated amortization of $6,517 and $768 as of June 30, 2014 and December 31, 2013, respectively.

(B)
Real estate owned ("REO") assets are those individual properties New Residential purchased or received in satisfaction of a debt (e.g., by taking legal title or physical possession). REO assets are initially recognized at fair value less costs to sell and the carrying value of the acquired property is reviewed on a recurring basis and adjusted, if necessary, to the lower of cost or fair value.
Schedule of accretion of discount and other amortization
As reflected on the Condensed Consolidated Statements of Cash Flows, accretion and other amortization is comprised of the following:
 
 
Six Months Ended June 30,
 
 
2014
 
2013
Accretion of servicer advance interest income
 
$
102,823

 
$

Accretion of excess mortgage servicing rights income
 
24,789

 
20,781

Accretion of net discount on securities and loans
 
12,477

 
6,596

Amortization of deferred financing costs
 
(5,750
)
 

 
 
$
134,339

 
$
27,377