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2309301 - Disclosure - Residential Loans at Amortized Cost, Net (Tables)
(http://www.walterinvestment.com/role/ResidentialLoansAtAmortizedCostNetTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001040719 (http://www.sec.gov/CIK)
Receivables [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Receivables [Abstract]
 
Schedule of Residential Loans at Amortized Cost, Net
Residential loans at amortized cost, net are comprised of the following components (in thousands):
 
 
December 31,
 
 
2016
 
2015
Unpaid principal balance (1)
 
$
701,944

 
$
580,086

Unamortized discounts and other cost basis adjustments, net (2)
 
(31,568
)
 
(34,223
)
Allowance for loan losses
 
(5,167
)
 
(4,457
)
Residential loans at amortized cost, net (3)
 
$
665,209

 
$
541,406

__________
(1)
Includes loans subject to repurchase from Ginnie Mae, which are discussed in more detail below.
(2)
Includes $4.5 million and $4.6 million of accrued interest receivable at December 31, 2016 and 2015, respectively.
(3)
Includes $202.3 million and $40.8 million of mortgage loans that are not related to consolidated VIEs at December 31, 2016 and 2015, respectively.
  
Schedule of Activity in Allowance for Loan Losses on Residential Loans at Amortized Cost, Net
The following table summarizes the activity in the allowance for loan losses on residential loans at amortized cost, net (in thousands):
 
 
For the Years Ended December 31,
 
 
2016
 
2015
 
2014
Balance at beginning of the year
 
$
4,457

 
$
10,033

 
$
14,320

Provision for loan losses (1)
 
2,701

 
3,142

 
1,491

Charge-offs, net of recoveries (2)
 
(1,991
)
 
(3,034
)
 
(5,778
)
Sale of residual interests (3)
 
—

 
(5,684
)
 
—

Balance at end of the year
 
$
5,167

 
$
4,457

 
$
10,033

__________
(1)
Provision for loan losses is included in other expenses, net on the consolidated statements of comprehensive loss.
(2)
Includes charge-offs recognized upon foreclosure of real estate in satisfaction of residential loans of $1.4 million, $1.7 million and $4.3 million for the years ended December 31, 2016, 2015 and 2014, respectively.
(3)
Sale of residual interests represents a decrease to the allowance for loan losses resulting from the deconsolidation of the seven Residual Trusts during the year ended December 31, 2015. Refer to Note 5 for additional information regarding Residual Trusts.