View Filing Data

Document and entity information - shares	6 Months Ended
Document and entity information - shares	Jun. 30, 2013	Jul. 18, 2013
Entity information [Line Items]
Entity registrant name	Altisource Asset Management Corporation
Entity central index key	0001555074
Current fiscal year end date	--12-31
Entity filer category	Smaller Reporting Company
Document type	10-Q
Document period end date	Jun. 30, 2013
Document fiscal year focus	2013
Document fiscal period focus	Q2
Amendment flag	false
Entity common stock, shares outstanding		2,345,620

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2013	Dec. 31, 2012
Real estate assets:
Land (from consolidated VIE)	$ 4	$ 0
Rental residential properties, net (from consolidated VIE)	54	0
Real estate owned (from consolidated VIE)	3,749	0
Real Estate Investment Property, Net	3,807	0
Real estate assets held for sale (from consolidated VIE)	901	0
Mortgage loans (from consolidated VIE)	163,520	0
Cash and cash equivalents (including from consolidated VIE $223,315 and $100,005, respectively)	227,846	105,014
Related party receivables (including from consolidated VIE $2,931 and $0, respectively)	3,220	361
Deferred leasing and financing costs, net (from consolidated VIE)	868	0
Prepaid expenses and other assets (including from consolidated VIE $20,262 and $6, respectively)	20,857	440
Total assets	421,019	105,815
Liabilities:
Repurchase agreement (from consolidated VIE)	472	0
Accounts payable and accrued liabilities (including from consolidated VIE $1,138 and $46, respectively)	2,113	406
Related party payables (including from consolidated VIE $149 and $5, respectively)	762	528
Total liabilities	3,347	934
Commitments and contingencies (Note 6)
Equity:
Common stock, $.01 par value, 5,000,000 authorized shares; and 2,345,425 and 2,343,213 shares issued and outstanding, respectively	23	23
Additional paid-in capital	6,289	4,993
Accumulated deficit	(2,385)	(46)
Total stockholders' equity	3,927	4,970
Noncontrolling interest in consolidated affiliate	413,745	99,911
Total equity	417,672	104,881
Total liabilities and equity	$ 421,019	$ 105,815

Consolidated Balance Sheets Parentheticals (Parentheticals) - USD ($)	Jun. 30, 2013	Dec. 31, 2012
Assets:
Cash and cash equivalents	$ 227,846,000	$ 105,014,000
Related party receivables	3,220,000	361,000
Prepaid expenses and other assets	20,857,000	440,000
Liabilities:
Accounts payable and accrued liabilities	2,113,000	406,000
Related party payables	$ 762,000	$ 528,000
Equity:
Common stock, par value per share, in USD per share	$ 0.01	$ 0.01
Common stock, shares authorized	5,000,000	5,000,000
Common stock, shares issued	2,345,425	2,343,213
Common stock, shares outstanding	2,345,425	2,343,213
Consolidated VIE [Member]
Assets:
Cash and cash equivalents	$ 223,315,000	$ 100,005,000
Related party receivables	2,931,000	0
Prepaid expenses and other assets	20,262,000	6,000
Liabilities:
Accounts payable and accrued liabilities	1,138,000	46,000
Related party payables	$ 149,000	$ 5,000

Consolidated Statement of Operations - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013
Net gain on investments:
Net unrealized gain on mortgage loans	$ 7,165	$ 8,293
Net realized gain on mortgage loans	1,719	2,106
Total net gain on investments	8,884	10,399
Expenses:
Residential rental property operating expenses	84	84
Related party mortgage loan servicing costs	1,242	1,634
Interest expense	654	696
General and administrative	3,369	6,067
Related party general and administrative	0	207
Total expenses	5,349	8,688
Other income	193	193
Net income	3,728	1,904
Net income attributable to noncontrolling interest in consolidated affiliate	(5,227)	(4,243)
Net loss attributable to common stockholders	$ (1,499)	$ (2,339)
Loss per share of common stock - basic: [Abstract]
Loss per basic share, in USD per share	$ (0.64)	$ (1.00)
Weighted average common stock outstanding – basic (in shares)	2,343,462	2,343,338
Loss per share of common stock - diluted: [Abstract]
Loss per diluted share, in USD per share	$ (0.64)	$ (1.00)
Weighted average common stock outstanding – diluted (in shares)	2,343,462	2,343,338

Consolidated Statements of Equity - 6 months ended Jun. 30, 2013 - USD ($)	Total	Common stock [Member]	Additional paid-in capital [Member]	Accumulated Deficit [Member]	Noncontrolling interest in consolidated affiliates [Member]
Beginning balance, Shares at Dec. 31, 2012	2,343,213	2,343,213
Beginning balance at Dec. 31, 2012	$ 104,881,000	$ 23,000	$ 4,993,000	$ (46,000)	$ 99,911,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock Issued During Period, Shares, Other		2,212
Stock Issued During Period, Value, Other	2,000	$ 0	2,000
Capital contribution from noncontrolling interest	309,591,000				309,591,000
Share-based compensation	1,294,000		1,294,000
Net income/(loss)	$ 1,904,000			(2,339,000)	4,243,000
Ending balance, Shares at Jun. 30, 2013	2,345,425	2,345,425
Ending balance at Jun. 30, 2013	$ 417,672,000	$ 23,000	$ 6,289,000	$ (2,385,000)	$ 413,745,000

- Definition

This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".

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- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

+ References + Details

Consolidated Statements of Cash Flows - USD ($)	4 Months Ended	6 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2012	Jun. 30, 2013
Operating activities:
Net income/(loss)	$ 0	$ 1,904,000
Adjustments to reconcile net income to net cash used in operating activities:
Net unrealized gain on mortgage loans	0	(8,293,000)
Net realized gain on mortgage loans	0	(2,106,000)
Amortization of deferred financing costs	0	322,000
Share-based compensation	0	1,294,000
Changes in operating assets and liabilities:
Related party receivables	0	724,000
Prepaid expenses and other assets	0	(280,000)
Accounts payable and accrued liabilities	0	1,012,000
Related party payables	0	234,000
Net cash used in operating activities	0	(5,189,000)
Investing activities:
Investment in mortgage loans	0	(168,165,000)
Investment in real estate	0	(278,000)
Investment in renovations	0	(22,000)
Acquisition-related deposits	0	(20,142,000)
Mortgage loan dispositions and repayments	0	7,062,000
Net cash used in investing activities	0	(181,545,000)
Financing activities:
Issuance of common stock, including stock option exercises	500,000	123,000
Payment of tax withholdings on exercise of stock options	0	(121,000)
Capital contribution from noncontrolling interest	500,000	310,254,000
Proceeds from repurchase agreement	0	79,761,000
Repayments of repurchase agreement	0	(79,289,000)
Payment of deferred financing costs	0	(1,162,000)
Net cash provided by financing activities	1,000,000	309,566,000
Net increase in cash and cash equivalents	1,000,000	122,832,000
Cash and cash equivalents as of beginning of the period	0	105,014,000
Cash and cash equivalents as of end of the period	1,000,000	227,846,000
Supplemental disclosure of non-cash investing and financing activity:
Transfer of mortgage loans to real estate owned	0	4,399,000
Changes in Residential's accrued equity issuance costs	0	663,000
Changes in related party receivable from mortgage loan dispositions and repayments	$ 0	$ 3,583,000

Organization and basis of presentation	6 Months Ended
Organization and basis of presentation	Jun. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and basis of presentation	Organization and basis of presentation We were incorporated in the United States Virgin Islands on March 15, 2012, which we refer to as "inception." Our primary business is to provide asset management and certain corporate governance services under a 15-year asset management agreement beginning December 21, 2012, which we refer to as the “Residential asset management agreement,” to Altisource Residential Corporation, which we refer to as “Residential,” a Maryland corporation that acquires and manages single-family rental properties by acquiring sub-performing and non-performing mortgages throughout the United States. Subsequent to our separation from Altisource on December 21, 2012, we immediately commenced operations and began to incur costs as a result of becoming an independent publicly traded company. Residential is currently our primary source of revenue and will drive our potential future growth. The Residential asset management agreement entitles us to incentive fees, which we refer to as our “incentive management fee,” that gives us an increasing share of Residential's cash flow available for distribution to its stockholders as well as reimbursement for certain overhead and operating expenses. Accordingly, our operating results are highly dependent on Residential's ability to achieve positive operating results. We have concluded that Residential is a variable interest entity ("VIE") because Residential's equity holders lack the ability through voting rights to make decisions about Residential's activities that have a significant effect on the success of Residential. We have also concluded that we are the primary beneficiary of Residential because under the Residential asset management agreement we have the power to direct the activities of Residential that most significantly impact Residential's economic performance including establishing Residential's investment and business strategy. As a result, we consolidate Residential in our consolidated financial statements. On March 22, 2013, Residential's operating partnership entered into a master repurchase agreement with a major financial institution to finance the acquisition and ownership of residential mortgage loans and REO properties. The maximum funding available to Residential under the repurchase agreement is $100.0 million, subject to certain sublimits. On May 1, 2013, Residential completed a public offering of 17,250,000 shares of its common stock at $18.75 per share and received net proceeds of $309.5 million. Residential has used or intends to use the net proceeds of this offering to purchase additional sub-performing and non-performing residential mortgage loans, pay servicing fees for its mortgage loan portfolios, renovate the single-family rental properties it acquires, pay rental and property management expenses, pay fees and expenses to us under the asset management agreement, fund its investment in NewSource Reinsurance Company, a title insurance and reinsurance company we refer to as "NewSource," and for working capital. Because we commenced operations on December 21, 2012, we have no comparable results for the three and six months ended June 30, 2012. Accordingly, we have not included the comparative three and six month periods from 2012 in our consolidated statement of operations. Additionally, because Residential's operating partnership was organized on June 7, 2012, our consolidated statement of cash flows and consolidated statement of stockholders' equity for the six months ended June 30, 2012 do not include six full months of operating activities. We ceased to be a development stage enterprise in the second quarter of 2013. Basis of presentation and use of estimates The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States which we refer to as "U.S. GAAP." All intercompany accounts and transactions have been eliminated. The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. The unaudited consolidated financial statements and accompanying unaudited consolidated financial information, in our opinion, contain all adjustments (including normal recurring accruals) necessary for a fair presentation of our financial position, results of operations and cash flows. We have omitted certain notes and other information from the interim consolidated financial statements presented in this Quarterly Report as permitted by SEC rules and regulations. These consolidated financial statements should be read in conjunction with our 2012 annual report on Form 10-K. Recently issued accounting standards In accordance with ASU 2011-11, Disclosures about Offsetting Assets and Liabilities, beginning in the first quarter of 2013 we are required to provide additional disclosures about the nature of our rights of offset and the related arrangements associated with our financial instruments. As a result, we have included additional disclosures pertaining to the collateral arrangement related to our repurchase agreement in this quarterly report.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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+ Details

Mortgage loans

6 Months Ended

Jun. 30, 2013

Mortgage Loans on Real Estate [Abstract]

Mortgage loans

Mortgage loans at fair value

Acquisitions

During the six months ended June 30, 2013, Residential completed the acquisition of the following portfolios of non-performing residential mortgage loans:


•	On February 14, 2013, a portfolio of first lien residential mortgage loans, substantially all of which are non-performing, having aggregate collateral market value of $94.2 million as of the February 1, 2013 cut-off date for the transaction.


•	On March 21, 2013, a portfolio of first lien residential mortgage loans, substantially all of which are non-performing, having aggregate collateral market value of $38.7 million as of the March 18, 2013 cut-off date for the transaction.


•	On April 5, 2013, a portfolio of first lien residential mortgage loans, substantially all of which are non-performing, having aggregate collateral market value of $122.1 million as of the March 28, 2013 cut-off date for the transaction.

During the three and six months ended June 30, 2013, Residential expensed $0.1 million and $0.4 million, respectively, for due diligence costs related to these and other transactions.

Transfer of mortgage loans to real estate owned

During the three and six months ended June 30, 2013, Residential transferred 33 and 34 mortgage loans, respectively, at fair value based on broker price opinion (BPO) of $4.2 million and $4.4 million, respectively, to real estate owned.

Dispositions

During the three and six months ended June 30, 2013, Residential disposed of 28 and 38 mortgage loans, respectively, primarily through short sales and foreclosure sales. As a result, Residential recorded $1.7 million and $2.1 million, respectively, of net realized gains on mortgage loans.

Real estate assets, net	6 Months Ended
Real estate assets, net	Jun. 30, 2013
Real Estate [Abstract]
Real estate assets, net	Real estate assets, net Acquisitions During the six months ended June 30, 2013, Residential acquired six residential properties, or "real estate owned," as part of the loan portfolio acquisitions described above which were converted to properties on foreclosure of the mortgage loans prior to the acquisition closing date. The aggregate purchase price attributable to these properties was $0.3 million. Residential acquired no residential properties in this manner during the three months ended June 30, 2013. Real estate held for sale As of June 30, 2013, Residential classified eight properties having carrying value of $0.9 million as real estate held for sale because it intends to sell the properties which do not meet its residential rental property investment criteria. The real estate held for sale balance is composed solely of real estate owned. These properties have had no significant operations, and, therefore, we are not presenting discontinued operations related to these properties.

- Definition

The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures.

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 7, 34
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This is a non-GAAP reference that was included in the 2009 taxonomy. It will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 04
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-Article 5

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-Name Accounting Research Bulletin (ARB)
-Number 43
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-Chapter 3
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-Publisher AICPA
-Name Statement of Position (SOP)
-Number 04-2
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a
-Article 5

Reference 18: http://www.xbrl.org/2003/role/presentationRef
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-Number AAG-DEP
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-Chapter 11
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-Publisher AICPA
-Name Statement of Position (SOP)
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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 15
-Paragraph 28
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-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 23, 24
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair value of financial instruments

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair value of financial instruments [Text Block]

Fair value of financial instruments

The following table sets forth the financial assets and liabilities that Residential measures at fair value by level within the fair value hierarchy as of June 30, 2013 ($ in thousands):



	Level 1		Level 2		Level 3
	Quoted prices in active markets		Observable inputs other than Level 1 prices		Unobservable inputs
Recurring basis (assets)
Mortgage loans	$	—	$	—	$	163,520
Nonrecurring basis (assets)
Transfer of mortgage loans to real estate owned	$	—	$	—	$	4,399
Not recognized on consolidated balance sheets at fair value (liabilities)
Repurchase agreement at fair value	$	—	$	472	$	—

There were no corresponding financial assets or liabilities measured at fair value as of December 31, 2012 because Residential did not own any mortgage loans or residential properties at that time. Additionally, there have been no transfers between levels for the three or six months ended June 30, 2013.

The carrying values of our cash and cash equivalents, related party receivables, accounts payable and accrued liabilities and related party payables are equal to or approximate fair value. The fair value of the repurchase agreement that Residential entered into on March 22, 2013 was estimated using the income approach to approximate the price that would be paid in an orderly transaction between market participants on the measurement date for similar floating rate debt.

The following table sets forth the changes in Residential's level 3 assets that are measured at fair value on a recurring basis ($ in thousands):



	Three months ended June 30, 2013			Six months ended June 30, 2013
Mortgage loans
Beginning balance	$	87,670		$	—
Investment in mortgage loans	79,908			168,165
Net unrealized gain on mortgage loans	7,165			8,293
Net realized gain on mortgage loans	1,719			2,106
Mortgage loan dispositions and repayments	(8,699		)	(10,645		)
Transfer of mortgage loans to real estate owned	(4,243		)	(4,399		)
Ending balance	$	163,520		$	163,520

Net unrealized gain on mortgage loans held	$	7,165		$	8,293
Accumulated unrealized gain on mortgage loans still held	$	8,293		$	8,293

There was no corresponding activity for level 3 assets for the three and six months ended June 30, 2012 because Residential did not own any such assets at that time.

The following table sets forth the fair value of Residential's mortgage loans and the related unpaid principal balance and collateral market value by delinquency as of June 30, 2013 ($ in thousands):



	Number of loans	Carrying value		Unpaid principal balance		Collateral market value
Current	102	$	10,748	$	22,020	$	18,178
30	33	2,793		6,411		4,560
60	30	4,299		8,093		6,449
90	460	53,905		106,381		81,086
Foreclosure	707	91,775		185,077		134,500
Mortgage loans	1,332	$	163,520	$	327,982	$	244,773

Residential did not hold any corresponding mortgage loans as of December 31, 2012.

The significant unobservable inputs used in the fair value measurement of Residential's mortgage loans are discount rates, home prices, gross rental rates, alternate loan resolution probabilities and timelines. Significant changes in any of these inputs in isolation could result in a significant change to the fair value measurement. A decline in the discount rate in isolation would increase the fair value of an asset. A decrease in the housing pricing index or gross rental rates in isolation would decrease the fair value. Individual loan characteristics such as location and value of underlying collateral affect the loan resolution probabilities and timelines. An increase in the loan resolution timeline in isolation would decrease the fair value. The following table sets forth quantitative information about the significant unobservable inputs used to measure the fair value of our mortgage loans as of June 30, 2013:



Input	Range
Discount rate	15.0%
Gross monthly rental rate	$480 to $5,030
Home pricing index range	-1.8% to 4.6%
Loan resolution probabilities - modification	0% to 22.3%
Loan resolution probabilities - rental	0% to 100.0%
Loan resolution probabilities - liquidation	0% to 100.0%
Loan resolution timelines	1 to 67 months

There were no corresponding fair value measurements which required significant unobservable inputs as of December 31, 2012 because Residential did not own any such assets at that time.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

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-Name Accounting Standards Codification
-Topic 825
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Repurchase agreement	6 Months Ended
Repurchase agreement	Jun. 30, 2013
Debt Disclosure [Abstract]
Repurchase agreement	Repurchase agreement On March 22, 2013, Residential's operating partnership entered into a master repurchase agreement with a major financial institution. The purpose of the repurchase agreement is to finance the purchase and beneficial ownership of mortgage loans and REO properties in its portfolio. Residential has effective control of the assets associated with this agreement and therefore we have concluded this is a financing arrangement. The maximum funding amount available to Residential under the repurchase agreement is $100.0 million, subject to certain sublimits. As of June 30, 2013, an aggregate of $0.5 million was outstanding under the repurchase agreement which was collateralized by mortgage loans and real estate owned with a carrying value of $1.0 million. As of June 30, 2013 the cost of funds for amounts borrowed under the repurchase agreement was approximately 3.5%. As of July 18, 2013, an aggregate of $0.5 million was outstanding under the repurchase agreement. The obligations under the repurchase agreement are fully guaranteed by Residential. The repurchase agreement matures on March 21, 2014. Under the terms of the repurchase agreement, as collateral for the funds Residential draws thereunder, Residential's operating partnership will sell to the lender equity interests in its Delaware statutory trust subsidiary that owns the underlying mortgage assets on its behalf. In the event the lender determines the value of the collateral has decreased, it has the right to initiate a margin call and require Residential to post additional collateral or to repay a portion of the outstanding borrowings. The price paid by the lender for each underlying mortgage asset Residential finances under the repurchase agreement is based on a percentage of the market value of the underlying mortgage asset and depends on its delinquency status. With respect to funds drawn under the repurchase agreement, Residential's operating partnership is required to pay the lender interest at the lender's cost of funds plus a spread calculated based on the type of applicable underlying mortgage assets collateralizing the funding, as well as certain other customary fees, administrative costs and expenses to maintain and administer the repurchase agreement. The repurchase agreement requires Residential to maintain various financial and other covenants, including maintaining a minimum adjusted tangible net worth, a maximum ratio of indebtedness to adjusted tangible net worth and specified levels of unrestricted cash as well as restrictions on net losses in excess of specified amounts. In addition, the repurchase agreement contains customary events of default. Residential is currently in compliance with the covenants and other requirements with respect to the repurchase agreement. We monitor Residential's banking partner's ability to perform under the repurchase agreement and have concluded there is currently no reason to doubt that it will continue to perform under the repurchase agreement as contractually obligated.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Commitments and contingencies	6 Months Ended
Commitments and contingencies	Jun. 30, 2013
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies On December 21, 2012, we entered into a subscription agreement to invest $2.0 million to acquire 100% of the common stock and voting rights of NewSource Reinsurance Company Ltd., a title insurance and reinsurance company. In addition, Residential entered into a subscription agreement to invest $18.0 million in the non-voting preferred stock of NewSource Reinsurance Company Ltd. No amounts have been invested as of June 30, 2013 and therefore the commitments remain $2.0 million and $18.0 million, respectively, as of June 30, 2013. Litigation, claims and assessments We are not currently the subject of any material legal or regulatory proceedings, and no legal or regulatory proceedings have been threatened against us. We may be involved, from time to time, in legal proceedings that arise in the ordinary course of business.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6449706&loc=d3e16207-108621

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-Name Accounting Standards Codification
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-Subparagraph (SX 210.5-02.25)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 14
-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Related party transactions

6 Months Ended

Jun. 30, 2013

Related party transactions

During the six months ended June 30, 2013, Residential acquired a portfolio from Ocwen of non-performing first lien residential mortgage loans having aggregate collateral market value of $94.2 million as of the February 1, 2013 cut-off date for the transaction. The aggregate purchase price for this portfolio was $64.4 million.

Our Consolidated Statements of Operations included the following significant related party transactions ($ in thousands):



	Three months ended June 30, 2013		Six months ended June 30, 2013		Counter-party	Consolidated Statements of Operations location
Related party mortgage loan servicing costs	$	1,242	$	1,634	Ocwen	Mortgage loan servicing costs paid by Residential
Due diligence costs	$	—	$	183	Altisource	Related party general and administrative expenses
Sublease and related occupancy costs	$	55	$	79	Ocwen	Related party general and administrative expenses
Expense reimbursements	$	1,156	$	2,057	Residential	Net loss attributable to noncontrolling interest in consolidated affiliate (Residential)

There were no corresponding related party transactions from March 15, 2012 (inception) to June 30, 2012.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph b
-Article 3A

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Share-based payments	6 Months Ended
Share-based payments	Jun. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based payments	Share-based payments During the six months ended June 30, 2013, we granted 32,197 shares of stock to certain members of executive management with weighted average grant date fair value per share of $63.98. Additionally, we granted 1,470 shares of stock pursuant to our 2013 Director Equity Plan with weighted average grant date fair value per share of $205.27. Of these shares, 660 were issued in connection with our directors' service on the board from January 24, 2013 to our 2013 annual meeting of stockholders and the remaining 810 are expected to be issued for their service from the 2013 annual meeting to the 2014 annual meeting of stockholders. As of June 30, 2013, we had an aggregate of $9.5 million of total unrecognized stock-based compensation costs which will be recognized over a weighted average remaining estimated term of 3.50 years.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Income taxes	6 Months Ended
Income taxes	Jun. 30, 2013
Income Taxes [Abstract]
Income taxes	Income taxes We are domiciled in the United States Virgin Islands and under current United States Virgin Islands law are obligated to pay taxes in the United States Virgin Islands on income and/or capital gains. As of February 1, 2013, we were granted status as an economic development company by the United States Virgin Islands Economic Development Commission. Under this designation, we receive tax benefits that allow for our taxable income to be taxed at an effective tax rate of 3.85%. For the three months ended March 31, 2013 we had future taxable income deductions (deferred tax assets) related to initial year expenditures including a cumulative net loss. We have recorded a valuation allowance equal to the resulting gross deferred tax asset because we do not believe it is more likely than not that the deferred tax asset will be realized. In addition, Residential intends to be taxed as a REIT beginning in the year ending December 31, 2013 and will make an election in 2014 upon filing its 2013 income tax return. Accordingly, Residential believes it will not be subject to federal income tax beginning in 2013 on that portion of its REIT taxable income that is distributed to its shareholders as long as certain asset, income and share ownership tests are met. As a REIT, Residential generally will not be subject to federal income tax to the extent it distributes its REIT taxable income to its shareholders. As of June 30, 2013, we did not have any unrecognized tax benefits. Additionally, we did not accrue interest or penalties associated with any unrecognized tax benefits, nor was any interest expense or penalty recognized during the year. Our subsidiaries and we remain subject to tax examination for the period from inception to December 31, 2012.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Earnings per share	6 Months Ended
Earnings per share	Jun. 30, 2013
Earnings Per Share [Abstract]
Earnings per share	Earnings per share Because we incurred a net loss attributable to common stockholders for the three and six months ended June 30, 2013, basic and diluted earnings per share are equivalent for the periods. For the three and six months ended June 30, 2013, there were 293,760 stock options and 224,944 units of restricted stock excluded from the calculation of diluted earnings per share because inclusion would have been anti-dilutive.

Segment information	6 Months Ended
Segment information	Jun. 30, 2013
Segment Reporting [Abstract]
Segment information	Segment information Our primary business is to provide asset management and certain corporate governance services to Residential. Residential's primary business is the acquisition and ownership of single-family rental assets. Residential's primary sourcing strategy is to acquire these assets by purchasing sub-performing and non-performing mortgages. As a result, we operate in a single segment focused on the management of Residential's resolution of sub-performing and non-performing mortgages with the intent to modify as many loans as possible to keep borrowers in their homes or own the collateral which is suitable as long-term rental properties.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair value of financial instruments (Tables)

6 Months Ended

Jun. 30, 2013

Fair Value Disclosures [Abstract]

Fair value measurements, recurring and nonrecurring

The following table sets forth the financial assets and liabilities that Residential measures at fair value by level within the fair value hierarchy as of June 30, 2013 ($ in thousands):



	Level 1		Level 2		Level 3
	Quoted prices in active markets		Observable inputs other than Level 1 prices		Unobservable inputs
Recurring basis (assets)
Mortgage loans	$	—	$	—	$	163,520
Nonrecurring basis (assets)
Transfer of mortgage loans to real estate owned	$	—	$	—	$	4,399
Not recognized on consolidated balance sheets at fair value (liabilities)
Repurchase agreement at fair value	$	—	$	472	$	—

Fair value, assets measured on recurring basis, unobservable input reconciliation

The following table sets forth the changes in Residential's level 3 assets that are measured at fair value on a recurring basis ($ in thousands):



	Three months ended June 30, 2013			Six months ended June 30, 2013
Mortgage loans
Beginning balance	$	87,670		$	—
Investment in mortgage loans	79,908			168,165
Net unrealized gain on mortgage loans	7,165			8,293
Net realized gain on mortgage loans	1,719			2,106
Mortgage loan dispositions and repayments	(8,699		)	(10,645		)
Transfer of mortgage loans to real estate owned	(4,243		)	(4,399		)
Ending balance	$	163,520		$	163,520

Net unrealized gain on mortgage loans held	$	7,165		$	8,293
Accumulated unrealized gain on mortgage loans still held	$	8,293		$	8,293

Delinquency by unpaid principal balance

The following table sets forth the fair value of Residential's mortgage loans and the related unpaid principal balance and collateral market value by delinquency as of June 30, 2013 ($ in thousands):



	Number of loans	Carrying value		Unpaid principal balance		Collateral market value
Current	102	$	10,748	$	22,020	$	18,178
30	33	2,793		6,411		4,560
60	30	4,299		8,093		6,449
90	460	53,905		106,381		81,086
Foreclosure	707	91,775		185,077		134,500
Mortgage loans	1,332	$	163,520	$	327,982	$	244,773

Fair value measurements, recurring and nonrecurring, valuation techniques

The following table sets forth quantitative information about the significant unobservable inputs used to measure the fair value of our mortgage loans as of June 30, 2013:



Input	Range
Discount rate	15.0%
Gross monthly rental rate	$480 to $5,030
Home pricing index range	-1.8% to 4.6%
Loan resolution probabilities - modification	0% to 22.3%
Loan resolution probabilities - rental	0% to 100.0%
Loan resolution probabilities - liquidation	0% to 100.0%
Loan resolution timelines	1 to 67 months

There were no corresponding fair value measurements which required significant unobservable inputs as of December 31, 2012 because Residential did not own any such assets at that time.

- Definition

Tabular disclosure related to assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a recurring and/or nonrecurring basis in periods after initial recognition. Disclosures include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3) as well as transfers between levels 1 and 2.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a,b,bb)
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI http://asc.fasb.org/extlink&oid=7578670&loc=SL7498348-110258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 33
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 6
-Footnote 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Related party transactions (Tables)

6 Months Ended

Jun. 30, 2013

Our Consolidated Statements of Operations included the following significant related party transactions ($ in thousands):



	Three months ended June 30, 2013		Six months ended June 30, 2013		Counter-party	Consolidated Statements of Operations location
Related party mortgage loan servicing costs	$	1,242	$	1,634	Ocwen	Mortgage loan servicing costs paid by Residential
Due diligence costs	$	—	$	183	Altisource	Related party general and administrative expenses
Sublease and related occupancy costs	$	55	$	79	Ocwen	Related party general and administrative expenses
Expense reimbursements	$	1,156	$	2,057	Residential	Net loss attributable to noncontrolling interest in consolidated affiliate (Residential)

Organization and basis of presentation (Details) - USD ($)			4 Months Ended	6 Months Ended
	May 01, 2013	Dec. 21, 2012	Jun. 30, 2012	Jun. 30, 2013	Mar. 22, 2013
Organization and Basis of Presentation [Line Items]
Term of contract		15 years
Proceeds from Issuance of Common Stock			$ 500,000	$ 123,000
Variable Interest Entity, Primary Beneficiary [Member]
Organization and Basis of Presentation [Line Items]
Sale of Stock, Number of Shares Issued in Transaction	17,250,000
Sale of Stock, Price Per Share	$ 18.75
Proceeds from Issuance of Common Stock	$ 309,500,000
Secured debt [Member] \| Master repurchase agreement [Member] \| Variable Interest Entity, Primary Beneficiary [Member]
Organization and Basis of Presentation [Line Items]
Line of credit facility, maximum borrowing capacity					$ 100,000,000

Mortgage loans (Details) $ in Thousands	3 Months Ended	4 Months Ended	6 Months Ended
Mortgage loans (Details) $ in Thousands	Jun. 30, 2013 USD ($) property	Jun. 30, 2012 USD ($)	Jun. 30, 2013 USD ($) property
Mortgage loans [Line Items]
Number of Real Estate Acquired Through Foreclosure \| property	33		34
Transfer of mortgage loans to real estate owned		$ 0	$ 4,399
Number of mortgage loans liquidated \| property	28		38
Net gains on mortgage loans			$ 2,100
Loans receivable [Member] \| Residential mortgage [Member]
Mortgage loans [Line Items]
Due diligence costs	$ 100		400
Transfer of mortgage loans to real estate owned	4,200		4,400
Net gains on mortgage loans	$ 1,719
Loans receivable [Member] \| Residential mortgage [Member] \| Mortgage loans on real estate, Pool one [Member]
Mortgage loans [Line Items]
Loans acquired, aggregate collateral market value			94,200
Loans receivable [Member] \| Residential mortgage [Member] \| Mortgage loans on real estate, Pool two [Member]
Mortgage loans [Line Items]
Loans acquired, aggregate collateral market value			38,700
Loans receivable [Member] \| Residential mortgage [Member] \| Mortgage Loans on Real Estate, Pool Three [Member]
Mortgage loans [Line Items]
Loans acquired, aggregate collateral market value			$ 122,100

Real estate assets, net (Details)	4 Months Ended	6 Months Ended
Real estate assets, net (Details)	Jun. 30, 2012 USD ($)	Jun. 30, 2013 USD ($) property	Dec. 31, 2012 USD ($)
Real Estate [Abstract]
Number of real estate properties directly acquired \| property		6
Real estate directly acquired \| $	$ 0	$ 278,000
Number of real estate properties held for sale \| property		8
Real estate assets held for sale (from consolidated VIE) \| $		$ 901,000	$ 0

Fair value of financial instruments - Fair value, assets and liabilities measured on recurring and nonrecurring basis (Details) $ in Thousands	Jun. 30, 2013 USD ($)
Fair value, inputs, level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repurchase agreement, fair value disclosure	$ 0
Fair value, inputs, level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repurchase agreement, fair value disclosure	472
Fair value, inputs, level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repurchase agreement, fair value disclosure	0
Fair value measurements, recurring [Member] \| Fair value, inputs, level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, fair value disclosure	0
Fair value measurements, recurring [Member] \| Fair value, inputs, level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, fair value disclosure	0
Fair value measurements, recurring [Member] \| Fair value, inputs, level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans receivable, fair value disclosure	163,520
Fair value measurements, nonrecurring [Member] \| Fair value, inputs, level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfer of mortgage to real estate owned, fair value disclosure	0
Fair value measurements, nonrecurring [Member] \| Fair value, inputs, level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfer of mortgage to real estate owned, fair value disclosure	0
Fair value measurements, nonrecurring [Member] \| Fair value, inputs, level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfer of mortgage to real estate owned, fair value disclosure	$ 4,399

Fair value of financial instruments - Fair value, assets measure on recurring basis, unobservable inputs (Details) - USD ($) $ in Thousands	3 Months Ended	4 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012	Jun. 30, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net unrealized gain on mortgage loans held	$ 7,165	$ 0	$ 8,293
Residential mortgage [Member] \| Fair value, inputs, level 3 [Member] \| Loans receivable [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	87,670		0
Investment in mortgage loans	79,908		168,165
Net unrealized gain on mortgage loans	7,165		8,293
Net realized gain on mortgage loans	1,719		2,106
Mortgage loan dispositions and repayments	8,699		10,645
Transfer of mortgage loans to real estate owned	(4,243)		(4,399)
Ending balance	163,520		163,520
Net unrealized gain on mortgage loans held	7,165		8,293
Accumulated unrealized gains and losses on mortgage loans still held	$ 8,293		$ 8,293

Fair value of financial instruments - Fair value by delinquency (Details) - Residential portfolio segment [Member] - Loans receivable [Member] - Residential mortgage [Member] $ in Thousands	Jun. 30, 2013 USD ($) loan
Number of loans [Abstract]
Current \| loan	102
30 \| loan	33
60 \| loan	30
90 \| loan	460
Foreclosure \| loan	707
Mortgage loans \| loan	1,332
Carrying value
Current	$ 10,748
30	2,793
60	4,299
90	53,905
Foreclosure	91,775
Mortgage loans	163,520
Unpaid principal balance
Current	22,020
30	6,411
60	8,093
90	106,381
Foreclosure	185,077
Mortgage loans, unpaid principal balance	327,982
Collateral market value
Current	18,178
30	4,560
60	6,449
90	81,086
Foreclosure	134,500
Mortgage loans, collateral at fair value	$ 244,773

Fair value of financial instruments - Fair value inputs, quantitative information (Details) - Residential mortgage [Member] - Loans receivable [Member] - Fair value, inputs, level 3 [Member]	6 Months Ended
	Jun. 30, 2013 USD ($)
Fair value inputs, assets, quantitative information [Line Items]
Discount rate	15.00%
Minimum [Member]
Fair value inputs, assets, quantitative information [Line Items]
Gross monthly rental rates	$ 480
Home pricing index	(1.80%)
Loan resolution probabilities - modification	0.00%
Loan resolution probabilities - rental	0.00%
Loan resolution probabilities - liquidation	0.00%
Loan resolution timelines	1 month
Maximum [Member]
Fair value inputs, assets, quantitative information [Line Items]
Gross monthly rental rates	$ 5,030
Home pricing index	4.60%
Loan resolution probabilities - modification	22.30%
Loan resolution probabilities - rental	100.00%
Loan resolution probabilities - liquidation	100.00%
Loan resolution timelines	67 months

Repurchase agreement (Details) - USD ($)	Jul. 18, 2013	Jun. 30, 2013	Mar. 22, 2013	Dec. 31, 2012
Debt [Line Items]
Repurchase agreement (from consolidated VIE)		$ 472,000		$ 0
Line of Credit Facility, Interest Rate at Period End		3.50%
Master repurchase agreement [Member] \| Secured debt [Member]
Debt [Line Items]
Repurchase agreement (from consolidated VIE)		$ 500,000
Loans pledged as collateral under repurchase agreement		$ 1,000,000
Master repurchase agreement [Member] \| Secured debt [Member] \| Subsequent event [Member]
Debt [Line Items]
Repurchase agreement (from consolidated VIE)	$ 500,000
Variable Interest Entity, Primary Beneficiary [Member] \| Master repurchase agreement [Member] \| Secured debt [Member]
Debt [Line Items]
Line of credit facility, maximum borrowing capacity			$ 100,000,000

Commitments and contingencies (Details) - USD ($)	Jun. 30, 2013	Dec. 21, 2012
Preferred stock [Member] \| Subscription agreement [Member] \| Consolidated VIE [Member] \| Residential corporation [Member]
Other Commitments [Line Items]
Commitment to invest in non-voting preferred stock	$ 18,000,000	$ 18,000,000
NewSource Reinsurance Company Ltd. [Member]
Other Commitments [Line Items]
Consideration transferred in business combination	$ 2,000,000	$ 2,000,000
Percentage of common stock and voting rights acquired		100.00%

- Definition

This element represents the acquisition-date fair value of the total consideration transferred which consists of the sum of the acquisition-date fair values of the assets transferred by the acquirer, the liabilities incurred by the acquirer to former owners of the acquiree, and the equity interests issued by the acquirer.

+ References + Details

Related party transactions (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2013
Related party transaction [Line Items]
Related party mortgage loan servicing costs	$ 1,242	$ 1,634
Loans acquired from related party, aggregate purchase price		64,400
Affiliated entity [Member] \| Altisource Residential Corporation [Member] \| Net income (loss) attributable to noncontrolling interest [Member] \| Expense reimbursements [Member]
Related party transaction [Line Items]
Related party expenses	1,156	2,057
Affiliated entity [Member] \| Altisource [Member] \| Related party general and administrative expense [Member] \| Due diligence costs [Member]
Related party transaction [Line Items]
Related party expenses	0	183
Affiliated entity [Member] \| Ocwen [Member] \| Loan portfolio expense [Member] \| Loan servicing costs [Member]
Related party transaction [Line Items]
Related party mortgage loan servicing costs	1,242	1,634
Affiliated entity [Member] \| Ocwen [Member] \| Related party general and administrative expense [Member] \| Sublease and related occupancy costs [Member]
Related party transaction [Line Items]
Related party expenses	$ 55	79
Mortgage loans on real estate, Pool one [Member] \| Loans receivable [Member] \| Residential mortgage [Member] \| Ocwen [Member] \| Acquisition of nonperforming loans [Member]
Related party transaction [Line Items]
Loans acquired from related party, aggregate collateral fair value		$ 94,200

Share-based payments (Details) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2013 USD ($) $ / shares shares
Share-based compensation arrangement by share-based payment award [Line Items]
Unamortized stock compensation \| $	$ 9.5
Weighted average remaining amortization period of unamortized share based compensation	3 years 6 months
Market based restricted stock [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Shares of restricted stock granted	32,197
Weighted average grant date fair value of market based restricted stock granted \| $ / shares	$ 63.98
Time based restricted stock [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Shares of restricted stock granted	1,470
Weighted average grant date fair value of market based restricted stock granted \| $ / shares	$ 205.27
Vested [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Shares of restricted stock granted	660
Unvested [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Shares of restricted stock granted	810

Income taxes (Details)	6 Months Ended
Income taxes (Details)	Jun. 30, 2013
Income Taxes [Abstract]
Projected U.S. Virgin Islands Tax Rate	3.85%

Earnings per share (Details) - shares	3 Months Ended	6 Months Ended
Earnings per share (Details) - shares	Jun. 30, 2013	Jun. 30, 2013
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS calculation	293,760,000	293,760,000
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS calculation	224,944,000	224,944,000

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Label	Element	Value
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	aamc_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	$ 500,000
Stock Issued During Period, Value, Other	us-gaap_StockIssuedDuringPeriodValueOther	500,000
Noncontrolling Interest [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	500,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	0
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	aamc_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	500,000
Retained Earnings [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	0
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	aamc_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	$ 0
Common Stock [Member]
Stock Issued During Period, Shares, Other	us-gaap_StockIssuedDuringPeriodSharesOther	100,000
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ 0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	1,000
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	aamc_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance	0
Stock Issued During Period, Value, Other	us-gaap_StockIssuedDuringPeriodValueOther	$ 1,000
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	100,000
Common Stock, Shares, Outstanding	us-gaap_CommonStockSharesOutstanding	0
Additional Paid-in Capital [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	$ 0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest	499,000
Stock Issued During Period, Value, Other	us-gaap_StockIssuedDuringPeriodValueOther	$ 499,000

- Definition

+ References + Details