GAIN (LOSS) ON HLSS EQUITY SECURITIES AND DIVIDENDS RECEIVED |
6 Months Ended |
|---|---|
Jun. 30, 2016 | |
| Other than Temporary Impairment Loss on Securities [Abstract] | |
| GAIN (LOSS) ON HLSS EQUITY SECURITIES AND DIVIDENDS RECEIVED | GAIN (LOSS) ON HLSS EQUITY SECURITIES AND DIVIDENDS RECEIVED During March 2015, we purchased 1.6 million shares of HLSS common stock in the open market for $30.0 million. This investment was classified as available for sale. On April 6, 2015, HLSS completed the sale of substantially all of its assets to New Residential Investment Corp. (“NRZ”) and adopted a plan of complete liquidation and dissolution. During April 2015, we received liquidating dividends and other dividends from HLSS totaling $20.4 million and we sold all of our 1.6 million shares of HLSS common stock in the open market for $7.7 million. As a result of these transactions, we recognized a net gain of $1.4 million in the second quarter of 2015 and a net loss of $1.9 million for the six months ended June 30, 2015 (no comparative amounts in 2016) in connection with our investment in HLSS. |