Quarterly report pursuant to Section 13 or 15(d)

OTHER INCOME, ASSETS AND LIABILITIES

v2.4.0.8
OTHER INCOME, ASSETS AND LIABILITIES
9 Months Ended
Sep. 30, 2014
Other Income Assets And Liabilities  
OTHER INCOME, ASSETS AND LIABILITIES
OTHER INCOME, ASSETS AND LIABILITIES
 
Other income is comprised of the following:
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Gain (loss) on derivative instruments
$
4,799

 
$

 
$
2,355

 
$

Gain (loss) on transfer of loans to REO
5,167

 

 
11,861

 

Fee earned on deal termination
5,000

 

 
5,000

 

Other income
323

 

 
323

 

 
$
15,289

 
$

 
$
19,539

 
$


 
Gain on settlement of investments is comprised of the following:

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2014
 
2013
 
2014
 
2013
Gain on sale of real estate securities, net
$
3,668

 
$
11,213

 
$
65,444

 
$
11,271

Gain (loss) on sale of derivatives
(2,403
)
 

 
(6,186
)
 

Gain (loss) on liquidated residential
mortgage loans, held-for-investment
782

 

 
782

 

Gain (loss) on sale of REO
(159
)
 

 
(801
)
 

Other gains (losses)
(950
)
 

 
(1,405
)
 

 
$
938

 
$
11,213

 
$
57,834

 
$
11,271



Other assets and liabilities are comprised of the following:
 
Other Assets
 
 
 
Accrued Expenses and Other Liabilities
 
September 30, 2014
 
December 31, 2013
 
 
 
September 30, 2014
 
December 31, 2013
Margin receivable, net
$
17,220

 
$
40,132

 
Interest payable
 
$
246

 
$
4,010

Interest and other receivables
8,530

 
7,548

 
Accounts payable
 
10,586

 
2,829

Deferred financing costs, net(A)
5,487

 
4,773

 
Derivative liability
 
345

 
18

Other assets
11,740

 
689

 
Current taxes payable
 
584

 

 
$
42,977

 
$
53,142

 
Other liabilities
 
19

 

 
 
 
 
 
 
 
$
11,780

 
$
6,857


(A)
Deferred financing costs is net of accumulated amortization of $8,443 and $768 as of September 30, 2014 and December 31, 2013, respectively.

As reflected on the Condensed Consolidated Statements of Cash Flows, accretion and other amortization is comprised of the following:
 
 
Nine Months Ended September 30,
 
 
2014
 
2013
Accretion of servicer advance interest income
 
$
153,790

 
$

Accretion of excess mortgage servicing rights income
 
37,703

 
30,541

Accretion of net discount on securities and loans(A)
 
30,127

 
9,644

Amortization of deferred financing costs
 
(7,675
)
 
(29
)
 
 
$
213,945

 
$
40,156


(A)    Includes accretion of the accretable yield on PCI loans.