Quarterly report pursuant to Section 13 or 15(d)

Other Assets (Tables)

v2.4.0.8
Other Assets (Tables)
 6 Months Ended
Jun. 30, 2013
Other Assets [Abstract]  
Schedule of Servicing Assets at Fair Value [Table Text Block]
The following table summarizes activity related to MSRs, for the three and six months ended June 30, 2013.
(in thousands)
Three Months Ended June 30, 2013
 
Six Months Ended June 30, 2013
Balance at beginning of period
$
—

 
$
—

Additions
1,497

 
1,497

Changes in fair value due to:
 
 
 
Changes in fair value assumptions
—

 
—

Other changes in fair value
(45
)
 
(45
)
Balance at end of period
$
1,452

 
$
1,452

Schedule of Other Assets [Table Text Block]
Other assets as of June 30, 2013 and December 31, 2012 are summarized in the following table:
(in thousands)
June 30,
2013
 
December 31,
2012
Property and equipment at cost
$
1,937

 
$
1,034

Accumulated depreciation (1)
(507
)
 
(251
)
Net property and equipment
1,430

 
783

Mortgage servicing rights, at fair value
1,452

 
—

Prepaid expenses
1,065

 
1,411

Current income tax receivable
—

 
4,323

Deferred tax assets
—

 
44,184

Intangible assets
1,600

 
—

Servicing advances
4,881

 
—

Other receivables (2)
3,458

 
31,885

Total other assets
$
13,886

 
$
82,586

____________________
(1)
Depreciation expense for the three and six months ended June 30, 2013 was $141,978 and $255,605, respectively.
Components of Servicing Revenue [Table Text Block]
The following table presents the components of servicing revenue recorded within other income on the Company's condensed consolidated statements of comprehensive (loss) income for the three and six months ended June 30, 2013:
(in thousands)
Three Months Ended June 30, 2013
 
Six Months Ended June 30, 2013
Servicing fee income
$
215

 
$
215

Ancillary fee income
30

 
30

 
$
245

 
$
245