Quarterly report pursuant to Section 13 or 15(d)

OTHER INCOME, ASSETS AND LIABILITIES

v3.10.0.1
OTHER INCOME, ASSETS AND LIABILITIES
9 Months Ended
Sep. 30, 2018
Other Income Assets And Liabilities  
OTHER INCOME, ASSETS AND LIABILITIES
OTHER INCOME, ASSETS AND LIABILITIES
 
Gain (loss) on settlement of investments, net is comprised of the following:
 
Three Months Ended 
 September 30,
 
Nine Months Ended  
 September 30,
 
2018
 
2017
 
2018
 
2017
Gain (loss) on sale of real estate securities, net
$
(28,737
)
 
$
7,342

 
$
(66,695
)
 
$
29,592

Gain (loss) on sale of acquired residential mortgage loans, net
4,065

 
9,029

 
(1,358
)
 
37,967

Gain (loss) on settlement of derivatives
19,459

 
(18,756
)
 
76,092

 
(58,326
)
Gain (loss) on liquidated residential mortgage loans
(1,113
)
 
(2,152
)
 
(2,267
)
 
(7,996
)
Gain (loss) on sale of REO
(4,971
)
 
(1,864
)
 
(12,114
)
 
(7,176
)
Gains reclassified from change in fair value of investments in excess MSRs and servicer advance investments

 
11,320

 
113,002

 
11,320

Other gains (losses)
(596
)
 
(3,366
)
 
(596
)
 
(4,131
)
 
$
(11,893
)
 
$
1,553

 
$
106,064

 
$
1,250



Other income (loss), net, is comprised of the following:
 
Three Months Ended 
 September 30,
 
Nine Months Ended  
 September 30,
 
2018
 
2017
 
2018
 
2017
Unrealized gain (loss) on derivative instruments
$
24,299

 
$
3,560

 
$
27,985

 
$
(124
)
Unrealized gain (loss) on other ABS
7,197

 
189

 
12,001

 
340

Unrealized gain (loss) on residential mortgage loans, held-for-investment, at fair value
647

 

 
647

 

Unrealized gain (loss) on notes and bonds payable
900

 

 
900

 

Gain (loss) on transfer of loans to REO
6,119

 
5,179

 
16,609

 
16,791

Gain (loss) on transfer of loans to other assets
(1,528
)
 
66

 
(1,648
)
 
359

Gain (loss) on Excess MSRs
987

 
606

 
5,257

 
1,948

Gain (loss) on Ocwen common stock
(145
)
 
6,987

 
4,655

 
6,987

Other income (loss)
(19,390
)
 
(6,700
)
 
(27,359
)
 
(18,605
)
 
$
19,086

 
$
9,887

 
$
39,047

 
$
7,696



Other assets and liabilities are comprised of the following:
 
Other Assets
 
 
 
Accrued Expenses
and Other Liabilities
 
September 30, 2018
 
December 31, 2017
 
 
 
September 30, 2018
 
December 31, 2017
Margin receivable, net
$
163,357

 
$
53,150

 
Interest payable
 
$
38,284

 
$
28,821

Other receivables
23,023

 
10,635

 
Accounts payable
 
109,852

 
73,017

Principal and interest receivable
66,283

 
48,373

 
Derivative liabilities (Note 10)
 
2,294

 
697

Receivable from government agency
20,158

 
41,429

 
Due to servicers
 
73,524

 
24,571

Call rights
290

 
327

 
MSR purchase price holdback
 
109,982

 
101,290

Derivative assets (Note 10)
27,212

 
2,423

 
Excess spread financing, at fair value
 
44,374

 

Servicing fee receivables
76,815

 
60,520

 
Contingent Consideration
 
42,770

 

Ginnie Mae EBO servicer advances receivable, net
934

 
8,916

 
Reserve for sales recourse
 
6,214

 

Due from servicers
74,539

 
38,601

 
Other liabilities
 
34,867

 
10,718

Goodwill
48,921

 

 
 
 
$
462,161

 
$
239,114

Intangible assets
4,308

 

 
 
 
 
 
 
Ocwen common stock, at fair value
23,876

 
19,259

 
 
 
 
 
 
Prepaid expenses
13,976

 
7,308

 
 
 
 
 
 
Other assets
85,539

 
21,240

 
 
 
 
 
 
 
$
629,231

 
$
312,181

 
 
 
 
 
 


As reflected on the Condensed Consolidated Statements of Cash Flows, accretion and other amortization is comprised of the following:
 
 
Nine Months Ended  
 September 30,
 
 
2018
 
2017
Accretion of servicer advances receivable discount and servicer advance investments
 
$
207,428

 
$
451,824

Accretion of excess mortgage servicing rights income
 
32,371

 
75,237

Accretion of net discount on securities and loans(A)
 
296,961

 
295,753

Amortization of deferred financing costs
 
(6,180
)
 
(9,525
)
Amortization of discount on notes and bonds payable
 
(1,599
)
 
(1,367
)
 
 
$
528,981

 
$
811,922


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