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Document and entity information - shares	6 Months Ended
Document and entity information - shares	Jun. 30, 2016	Jul. 29, 2016
Document and Entity Information [Abstract]
Entity registrant name	Altisource Asset Management Corporation
Entity central index key	0001555074
Current fiscal year end date	--12-31
Entity filer category	Accelerated Filer
Document type	10-Q/A
Document period end date	Jun. 30, 2016
Document fiscal year focus	2016
Document fiscal period focus	Q2
Amendment flag	true
Amendment Description	Correction of an error pertaining to loss per basic and diluted common share for three and six months ended June 30, 2016
Entity common stock, shares outstanding		1,684,194

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Real estate held for use:
Land (from previously consolidated VIE as of December 31, 2015)	$ 0	$ 56,346
Rental residential properties (net of accumulated depreciation of $7,127 as of December 31, 2015 - from previously consolidated VIE)	0	224,040
Real estate owned (from previously consolidated VIE as of December 31, 2015)	0	455,483
Total real estate held for use, net	0	735,869
Real estate assets held for sale (from previously consolidated VIE as of December 31, 2015)	0	250,557
Mortgage loans at fair value (from previously consolidated VIE as of December 31, 2015)	0	960,534
Mortgage loans held for sale (from previously consolidated VIE as of December 31, 2015)	0	317,336
Cash and cash equivalents (including $116,702 from previously consolidated VIE as of December 31, 2015)	39,419	184,544
Restricted cash (from previously consolidated VIE as of December 31, 2015)	0	20,566
Available-for-sale securities	14,929	0
Accounts receivable, net (including $45,903 from previously consolidated VIE as of December 31, 2015)	0	46,026
Related party receivables	5,489	0
Prepaid expenses and other assets (including $1,126 from previously consolidated as of December 31, 2015)	1,379	3,169
Total assets	61,216	2,518,601
Liabilities:
Repurchase and loan and security agreements (from previously consolidated VIE as of December 31, 2015)	0	763,369
Other secured borrowings (from previously consolidated VIE as of December 31, 2015)	0	502,599
Accrued salaries and employee benefits	2,076	4,006
Accounts payable and other accrued liabilities (including $32,448 from previously consolidated VIE as of December 31, 2015)	2,286	34,716
Total liabilities	4,362	1,304,690
Commitments and contingencies (Note 6)
Redeemable preferred stock:
Preferred stock, $0.01 par value, 250,000 shares issued and outstanding as of June 30, 2016 and December 31, 2015; redemption value $250,000	249,237	249,133
Equity:
Common stock, $.01 par value, 5,000,000 authorized shares; 2,599,467 and 1,684,194 shares issued and outstanding, respectively, as of June 30, 2016 and 2,556,828 and 2,048,223 shares issued and outstanding, respectively, as of December 31, 2015	26	26
Additional paid-in capital	25,851	23,419
Retained earnings	48,982	50,678
Accumulated other comprehensive loss	(5,667)	0
Treasury stock, at cost, 915,273 shares as of June 30, 2016 and 508,605 shares as of December 31, 2015	(261,575)	(254,984)
Total stockholders' deficit	(192,383)	(180,861)
Noncontrolling interest in consolidated affiliate	0	1,145,639
Total equity	(192,383)	964,778
Total liabilities and equity	$ 61,216	$ 2,518,601

Consolidated Balance Sheets (Parentheticals) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Rental Residential properties - accumulated depreciation	$ 0	$ 7,127,000
Assets:
Cash and cash equivalents	39,419,000	184,544,000
Accounts receivable	0	46,026,000
Prepaid expenses and other assets	1,379,000	3,169,000
Liabilities:
Accounts payable and accrued liabilities	$ 2,286,000	$ 34,716,000
Preferred stock, par value per share, in USD	$ 0.01	$ 0.01
Preferred stock, shares issued	250,000	250,000
Preferred stock, shares outstanding	250,000	250,000
Preferred stock, redemption value	$ 250,000,000	$ 25,000,000
Equity:
Common stock, par value per share, in USD	$ 0.01	$ 0.01
Common stock, shares authorized	5,000,000	5,000,000
Common stock, shares issued	2,599,467	2,556,828
Common stock, shares outstanding	1,684,194	2,048,223
Treasury stock, shares	915,273	508,605
Residential
Assets:
Cash and cash equivalents	$ 0	$ 116,702,000
Accounts receivable	0	45,903,000
Prepaid expenses and other assets	0	1,126,000
Liabilities:
Accounts payable and accrued liabilities	$ 0	$ 32,448,000

Consolidated Statement of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Management fees	$ 4,506	$ 0	$ 8,630	$ 0
Conversion fees	544	0	946	0
Expense reimbursements	357	0	357	0
Rental revenues	0	2,140	0	3,540
Net unrealized gain on mortgage loans	0	42,209	0	103,343
Net realized gain on mortgage loans	0	19,272	0	34,654
Net realized gain on mortgage loans held for sale	0	254	0	405
Net realized gain on real estate	0	12,404	0	23,012
Interest and dividend income	247	240	541	480
Total revenues	5,654	76,519	10,474	165,434
Expenses:
Salaries and employee benefits	2,589	1,706	4,937	3,339
Equity-based compensation	2,388	2,086	4,756	3,032
Legal and professional fees	542	158	1,083	7,691
Residential property operating expenses	0	16,857	0	29,316
Real estate depreciation and amortization	0	1,344	0	2,342
Selling costs and impairment	0	8,839	0	23,530
Mortgage loan servicing costs	0	16,246	0	34,512
Interest expense	0	13,237	0	24,720
General and administrative	578	2,017	1,092	3,468
Total expenses	6,097	62,490	11,868	131,950
Other income:
Other income	55	0	55	0
Total other income	55	0	55	0
(Loss) income before income taxes	(388)	14,029	(1,339)	33,484
Income tax (benefit) expense	873	194	862	337
Net (loss) income	(1,261)	13,835	(2,201)	33,147
Net income attributable to noncontrolling interest in consolidated affiliate	0	(13,092)	0	(25,516)
Net (loss) income attributable to stockholders	$ (1,261)	$ 743	$ (2,201)	$ 7,631
(Loss) earnings per share of common stock – basic:
(Loss) earnings per basic share (usd per share)	$ (0.74)	$ 0.31	$ (1.22)	$ 3.40
Weighted average common stock outstanding – basic (shares)	1,776,831	2,218,533	1,883,322	2,211,357
(Loss) earnings per share of common stock – diluted:
(Loss) earnings per diluted share (usd per share)	$ (0.74)	$ 0.27	$ (1.22)	$ 2.77
Weighted average common stock outstanding – diluted (shares)	1,776,831	2,746,955	1,883,322	2,752,322

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Net (loss) income attributable to stockholders	$ (1,261)	$ 743	$ (2,201)	$ 7,631
Other comprehensive loss:
Change in unrealized loss on available-for-sale securities	(4,565)	0	(4,686)	0
Total other comprehensive loss	(4,565)	0	(4,686)	0
Comprehensive (loss) income	$ (5,826)	$ 743	$ (6,887)	$ 7,631

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional paid-in capital	Retained earnings	Accumulated Other Comprehensive Loss	Treasury stock	Noncontrolling interest in consolidated affiliate
Beginning balance, Shares at Dec. 31, 2014		2,452,101
Beginning balance at Dec. 31, 2014	$ 1,149,794	$ 25	$ 14,152	$ 54,174	$ 0	$ (245,468)	$ 1,326,911
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, including option exercises, shares		57,743
Issuance of common stock, including option exercises	15		15
Treasury shares repurchased	(6,604)					(6,604)
Capital contribution from noncontrolling interest	62						62
Distribution from noncontrolling interest	(67,507)						(67,507)
Amortization of preferred stock issuance costs	(103)			(103)
Share-based compensation	3,032		2,939				93
Change in unrealized loss on available-for-sale securities	0
Net loss	33,147			7,631			25,516
Ending balance, Shares at Jun. 30, 2015		2,509,844
Ending balance at Jun. 30, 2015	1,111,836	$ 25	17,106	61,702		(252,072)	1,285,075
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adoption of ASU 2015-02 (Note 1)					0
Cumulative effect of adoption of ASU 2015-02 (Note 1) \| ASU 2015-02	(1,148,341)		(2,330)	609	(981)		(1,145,639)
Adjusted balance	$ (183,563)	$ 26	21,089	51,287	(981)	(254,984)	0
Beginning balance, Shares at Dec. 31, 2015	2,048,223	2,556,828
Beginning balance at Dec. 31, 2015	$ 964,778	$ 26	23,419	50,678	0	(254,984)	1,145,639
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, including option exercises, shares		42,639
Issuance of common stock, including option exercises	6		6
Treasury shares repurchased	(6,591)					(6,591)
Amortization of preferred stock issuance costs	(104)			(104)
Share-based compensation	4,756		4,756
Change in unrealized loss on available-for-sale securities	(4,686)				(4,686)
Net loss	$ (2,201)			(2,201)
Ending balance, Shares at Jun. 30, 2016	1,684,194	2,599,467
Ending balance at Jun. 30, 2016	$ (192,383)	$ 26	$ 25,851	$ 48,982		$ (261,575)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of adoption of ASU 2015-02 (Note 1)					$ (5,667)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Operating activities:
Net loss	$ (2,201)	$ 33,147
Adjustments to reconcile net income to net cash used in operating activities:
Net unrealized gain on mortgage loans	0	(103,343)
Net realized gain on mortgage loans	0	(34,654)
Net realized gain on sale of mortgage loans held for sale	0	(405)
Net realized gain on sale of real estate	0	(23,012)
Real estate depreciation and amortization	0	2,342
Selling costs and impairment	0	23,530
Accretion of interest on re-performing mortgage loans	0	(469)
Share-based compensation	4,756	3,032
Amortization of deferred financing costs	0	2,218
Loss on retirement of leasehold improvements	0	212
Changes in operating assets and liabilities:
Accounts receivable	123	3,815
Related party receivables	(5,489)	1,156
Prepaid expenses and other assets	653	(499)
Accrued salaries and employee benefits	(1,993)	(325)
Accounts payable and accrued liabilities	81	5,070
Related party payables	(2,180)	0
Net cash used in operating activities	(6,250)	(88,185)
Investing activities:
Decrease in cash due to deconsolidation of Residential (Note 1)	(116,702)	0
Purchases of securities	(15,588)	0
Investment in renovations	0	(11,001)
Real estate tax advances	0	(14,443)
Mortgage loan resolutions	0	107,887
Mortgage loan payments	0	12,447
Disposition of real estate	0	70,916
Acquisition related deposits	0	(5,631)
Change in restricted cash	0	(5,177)
Net cash (used in) provided by investing activities	(132,290)	154,998
Financing activities:
Issuance of common stock, including stock option exercises	18	537
Repurchase of common stock	(6,591)	(6,604)
Payment of tax withholdings on exercise of stock options	(12)	(522)
Capital contribution from noncontrolling interest	0	62
Distribution to noncontrolling interest	0	(36,038)
Proceeds from issuance of other secured debt	0	221,691
Repayments of secured notes	0	(21,306)
Proceeds from repurchase agreement	0	109,683
Repayments of repurchase agreement	0	(298,078)
Payment of deferred financing costs	0	(7,123)
Net cash used in by financing activities	(6,585)	(37,698)
Net decrease in cash and cash equivalents	(145,125)	29,115
Cash and cash equivalents as of beginning of the period	184,544	116,782
Cash and cash equivalents as of end of the period	39,419	145,897
Supplemental disclosure of cash flow information
Cash paid for interest	0	21,732
Transfer of mortgage loans to real estate owned, net	0	268,682
Change in accrued capital expenditures	0	(1,732)
Changes in receivables from mortgage loan resolutions, payments and real estate tax advances, net	0	36,359
Changes in receivables from real estate owned dispositions	0	1,369
Decrease in noncontrolling interest due to deconsolidation (Note 1)	(1,145,639)	0
Decrease in repurchase and loan agreements and other secured borrowings due to deconsolidation of Residential (Note 1)	(1,265,968)	0
Decrease in real estate assets and mortgage loans due to deconsolidation of Residential (Note 1)	$ 2,264,296	$ 0

Organization and basis of presentation

6 Months Ended

Jun. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and basis of presentation

We were incorporated in the United States Virgin Islands on March 15, 2012 (our “inception”). Subsequent to our separation from Altisource Portfolio Solutions S.A. (“ASPS”) on December 21, 2012, we immediately commenced operations. Our primary business is to provide asset management and certain corporate governance services to institutional investors. In October 2013, we applied for and were granted registration by the SEC as a registered investment adviser under section 203(c) of the Investment Advisers Act of 1940.

Our primary client currently is Altisource Residential Corporation (“Residential”), a public real estate investment trust (“REIT”) that is focused on acquiring and managing quality, affordable single-family rental properties for working class families throughout the United States. Substantially all of our standalone revenue since inception was generated through our asset management agreement with Residential.

Residential focuses on acquiring, owning and managing single-family rental properties throughout the United States and conducts substantially all of its activities through its wholly owned subsidiary Altisource Residential, L.P. (“ARLP”) and its subsidiaries. Initially, Residential acquired its rental properties primarily through the acquisition of sub-performing and non-performing mortgage loan portfolios; however, commencing in the second quarter of 2015, it refocused its acquisition strategy to opportunistically acquire portfolios of single-family rental properties, both individually and in pools, as an avenue to more quickly achieve scale in its rental portfolio.

Residential has a long-term service agreements with ASPS, a leading provider of real estate and mortgage portfolio management, asset recovery and customer relationship management services. Residential also has servicing agreements with three separate servicers. Residential’s ability to execute its business strategy is reliant, in large part, on the performance of these service providers. ASPS and one of the three servicers, Ocwen Financial Corporation (“Ocwen”), were related parties through January 16, 2015. We also are party to certain services agreements with ASPS relating to certain support services and technology/network administration.

We initially provided services to Residential pursuant to a 15-year asset management agreement beginning December 21, 2012 (the “Original AMA”). On March 31, 2015, we entered into a new asset management agreement with Residential (the “New AMA”) under which we will continue to be the exclusive asset manager for Residential for an initial term of 15 years from April 1, 2015, with two potential five-year extensions. The Original AMA had a different incentive fee structure that gave us a share of Residential’s cash flow available for distribution to its stockholders as well as reimbursement for certain overhead and operating expenses. The New AMA provides for a new fee structure in which we are entitled to a base management fee, an incentive management fee and a conversion fee for loans and real estate owned (“REO”) properties that become rental properties during each quarter. Accordingly, our operating results continue to be highly dependent on Residential's operating results. See Note 7 for additional details of the New AMA.

Additionally, we provide management services to NewSource Reinsurance Company Ltd. (“NewSource”), a title insurance and reinsurance company in Bermuda. In October 2013, we invested $2.0 million in 100% of the common stock of NewSource, and in September 2015, we contributed an additional $5.0 million to NewSource. On December 2, 2013, NewSource became registered as a licensed reinsurer with the Bermuda Monetary Authority (“BMA”). NewSource commenced reinsurance activities during the second quarter of 2014. In December 2014, NewSource determined that the economics of the initial business did not warrant the continuation of its initial reinsurance quota share agreement with an unrelated third party. NewSource therefore transferred all of the risk of claims and future losses underwritten to an unrelated third party.

Correction of net loss per common share

Subsequent to the issuance of our Form 10-Q for the quarterly period ended June 30, 2016, we determined that there was an error in the reported amount of the loss per basic and diluted share of common stock. We originally reported loss per share of common stock, both basic and diluted, for the three and six months ended June 30, 2016 of $0.23 and $0.74, respectively. Upon correcting this error, our loss per share of common stock, both basic and diluted, for the three and six months ended June 30, 2016 was $0.74 and $1.22, respectively. All other financial information, including the net loss attributable to stockholders and weighted average common stock outstanding for all such periods, remains correct and unchanged; therefore, no other changes were made to our unaudited consolidated financial statements.

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 (“U.S. GAAP”). 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 interim consolidated financial statements and accompanying unaudited consolidated financial information, in our opinion, contain all adjustments that are of a normal recurring nature and necessary for a fair presentation of our financial position, results of operations and cash flows for the interim periods. The interim results are not necessarily indicative of results for a full year. We have omitted certain notes and other information from the interim consolidated financial statements presented in this Quarterly Report on Form 10-Q as permitted by the Securities and Exchange Commission (“SEC”) rules and regulations. These consolidated financial statements should be read in conjunction with our annual consolidated financial statements included within our 2015 Annual Report on Form 10-K, which was filed with the SEC on February 29, 2016.

Effective January 1, 2016, the accompanying consolidated financial statements include the accounts of AAMC and its consolidated subsidiaries, which are comprised of voting interest entities in which we are determined to have a controlling financial interest under Accounting Standards Codification (“ASC”) 810, as amended by Accounting Standards Update ASU (“ASU”) 2015-02, Consolidation (Topic 810) – Amendments to the Consolidation Analysis (“ASU 2015-02”). Our voting interest entities consist entirely of our wholly owned subsidiaries. We also consider variable interest entities (“VIEs”) for consolidation where we are the primary beneficiary as described below. With the adoption of the ASU 2015-02 effective January 1, 2016, we no longer consolidate Residential as a VIE, and we currently do not have any other potential VIEs.

For legal entities evaluated for consolidation, we must determine whether the interests that we hold and fees paid to us qualify as a variable interest in the entity. This includes an evaluation of fees paid to us where we act as a decision maker or service provider to the entity being evaluated. Fees received by us are not variable interests if (i) the fees are compensation for services provided and are commensurate with the level of effort required to provide those services, (ii) the service arrangement includes only terms, conditions or amounts that are customarily present in arrangements for similar services negotiated at arm’s length and (iii) our other economic interests in the VIE held directly and indirectly through our related parties, as well as economic interests held by related parties under common control, where applicable, would not absorb more than an insignificant amount of the entity’s losses or receive more than an insignificant amount of the entity’s benefits.

For those entities in which we have a variable interest, we perform an analysis to first determine whether the entity is a VIE. This determination includes considering whether the entity’s equity investment at risk is sufficient, whether the voting rights of an investor are not proportional to its obligation to absorb the income or loss of the entity and substantially all of the entity's activities either involve or are conducted on behalf of that investor and its related parties and whether the entity’s at-risk equity holders have the characteristics of a controlling financial interest. A VIE must be consolidated by its primary beneficiary. Performance of such analysis requires the exercise of judgment.

The primary beneficiary of a VIE is generally defined as the party who has a controlling financial interest in the VIE. We are generally deemed to have a controlling financial interest in a VIE if we have (i) the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. For purposes of evaluating (ii) above, fees paid to us are excluded if the fees are compensation for services provided commensurate with the level of effort required to be performed and the arrangement includes only customary terms, conditions or amounts present in arrangements for similar services negotiated at arm’s length. We also evaluate our economic interests in the VIE held directly by us and indirectly through our related parties, as well as economic interests held by related parties under common control, where applicable. The primary beneficiary evaluation is generally performed qualitatively on the basis of all facts and circumstances. However, quantitative information may also be considered in the analysis, as appropriate. These analyses require judgment. Changes in the economic interests (either by us, our related parties or third parties) or amendments to the governing documents of the VIE could affect an entity's status as a VIE or the determination of the primary beneficiary. The primary beneficiary evaluation is updated periodically.

For voting interest entities, we shall consolidate the entity if we have a controlling financial interest. We have a controlling financial interest in a voting interest entity if (i) for legal entities other than limited partnerships, we own a majority voting interest in the entity or, for limited partnerships and similar entities, we own a majority of the entity’s kick-out rights through voting limited partnership interests and (ii) non-controlling shareholders or partners do not hold substantive participating rights and no other conditions exist that would indicate that we do not control the entity.

Prior to our deconsolidation of Residential as described below, our consolidated financial statements also include those VIEs that were included within Residential consolidated financial statements. Residential had three securitization trusts, ARLP Securitization Trust, Series 2014-1 (“ARLP 2014-1”), ARLP Securitization Trust, Series 2014-2 (“ARLP 2014-2”) and ARLP Securitization Trust, Series 2015-1 (“ARLP 2015-1”), which were classified as VIEs. Because Residential is the primary beneficiary, these entities were included in the consolidated financial statements of Residential but are no longer included in our consolidated financial statements since the deconsolidation. See Note 5 for more information regarding these securitization trusts.

Deconsolidation of Residential

Effective January 1, 2016, we adopted the provisions of ASU 2015-02, and we performed an analysis of our relationship with Residential pursuant to the amended guidance. We determined that the compensation we receive in return for our services to Residential is commensurate with the level of effort required to perform such services and the arrangement includes customary terms, conditions or amounts present in arrangements for similar services negotiated at arm’s length; therefore, Residential is no longer a VIE under the amended guidance. As a result, effective January 1, 2016, we no longer consolidate the accounts of Residential. We have applied ASU 2015-02 using the modified retrospective approach, which has resulted in a cumulative-effect adjustment to equity on January 1, 2016. As a result, periods ending prior to the adoption were not impacted. The adoption effectively removed those balances previously disclosed that related to Residential from our consolidated financial statements and eliminated the amounts previously reported as noncontrolling interests in Residential as a consolidated affiliate. Subsequent to adoption, our consolidated revenues consist primarily of management fees received from Residential under the New AMA and interest and dividend income, and our consolidated expenses consist primarily of salaries and employee benefits, equity-based compensation, legal and professional fees and general and administrative expenses.

As a result of our deconsolidation of Residential, we have also reclassified certain prior period amounts for consistency with the current period presentation, including accrued salaries and benefits within the consolidated balance sheet and salaries and benefits, equity-based compensation and legal and professional fees within the consolidated statement of operations. These reclassifications had no effect on the reported results of operations.

Available-for-sale securities

The securities we hold consist solely of the common stock of Residential. These securities are classified as available for sale and are reported at fair value. We adjust our investment in Residential common stock to fair value based on unadjusted quoted market prices in active markets. Changes in the fair value are recorded in accumulated other comprehensive income (loss) as changes in unrealized gain (loss) on available-for-sale securities. Our ability to sell these securities, or the price ultimately realized for these securities, depends upon the demand in the market and potential restrictions on the timing at which we may be able to sell the Residential common stock when desired.

Deferred debt issuance costs

In April 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30) - Simplifying the Presentation of Debt Issuance Costs. ASU 2015-03 requires that debt issuance costs are presented on the balance sheet as a deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures include the face amount of the debt liability and the effective interest rate. In August 2015, the FASB issued ASU 2015-15, Interest - Imputation of Interest (Subtopic 835-30) - Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. ASU 2015-15 provides additional guidance to ASU 2015-03, which did not address presentation or subsequent measurement of debt issuance costs related to line of credit arrangements. ASU 2015-15 noted that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line of credit arrangement, regardless of whether there are any outstanding borrowings on the line of credit arrangement.

Residential's application of ASU 2015-03 represents a change in accounting principle and has been applied retrospectively, which resulted in i) a reclassification of the deferred debt issuance cost component of Residential's deferred leasing and financing costs to repurchase agreements and other secured borrowings and ii) a reclassification of deferred leasing cost component of Residential's deferred leasing and financing costs to prepaid expenses and other assets in our consolidated balance sheets.

The following table represents the effect of change on the prior periods that were reclassified as a result this adoption ($ in thousands):



	December 31, 2015
	As Previously Reported		Adjustments			Current Presentation
Assets:
Deferred leasing and financing costs (1)	$	7,886	$	(7,886	)	$	—
Prepaid expenses and other assets (1)	2,458		711			3,169
Liabilities:
Repurchase agreements	767,513		(4,144		)	763,369
Other secured borrowings	505,630		(3,031		)	502,599

____________


(1)	Upon adoption of ASU 2015-03, Residential reclassified its deferred leasing costs to prepaid expenses and other assets.

Recently issued accounting standards

In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation – Stock Compensation (Topic 718). ASU 2016-09 makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. ASU 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based awards. This update standard is effective for interim and annual reporting periods beginning after December 15, 2016, although early adoption is permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements.

In February 2016, FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 requires that lessees recognize assets and liabilities for leases with lease terms greater than twelve months in the statement of financial position and also requires improved disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. This update is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within those fiscal years. Early adoption is permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements.

In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10). ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. We do not expect the impact of adopting this standard to have a material impact on our consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. In August 2015, FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which effectively delayed the adoption date of ASU 2014-09 by one year. ASU 2014-09 is therefore effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2016. We do not expect this amendment to have a significant effect on our consolidated financial statements.

Real estate assets, net	6 Months Ended
Real estate assets, net	Jun. 30, 2016
Real Estate [Abstract]
Real estate assets, net	Real estate assets, net As of June 30, 2016, we had no real estate assets. The following describes Residential's real estate assets that were included in our consolidated financial statements as of December 31, 2015. These real estate assets are no longer included in our consolidated financial statements effective from January 1, 2016. Real estate held for use As of December 31, 2015, Residential had 4,933 REO properties held for use. Of these properties, 2,118 had been leased, 264 were being listed and ready for rent and 350 were in varying stages of renovation and unit turn status. With respect to the remaining 2,201 REO properties, we were in the process of determining whether these properties would meet Residential's rental profile. Real estate held for sale As of December 31, 2015, Residential classified 1,583 properties having an aggregate carrying value of $250.6 million as real estate held for sale. Management determined to divest of these properties because they did not meet its residential rental property investment criteria.

Mortgage loans

6 Months Ended

Jun. 30, 2016

Mortgage Loans on Real Estate [Abstract]

Mortgage loans

As of June 30, 2016, we had no mortgage loans due to the deconsolidation of Residential. The following describes Residential's mortgage loans that were included in our consolidated financial statements as of December 31, 2015 as well as certain related activity recognized in our consolidated financial statements for the three and six months ended June 30, 2015.

The following table sets forth the fair value of Residential's mortgage loans, the related unpaid principal balance and market value of underlying properties by delinquency status as of December 31, 2015 ($ in thousands):



	Number of Loans	Carrying Value		Unpaid Principal Balance		Market Value of Underlying Properties
December 31, 2015
Current	730	$	124,595	$	165,645	$	177,348
30	80	12,003		18,142		21,858
60	38	5,688		8,088		8,766
90	984	130,784		216,717		196,963
Foreclosure	3,907	687,464		946,962		917,671
Mortgage loans at fair value	5,739	$	960,534	$	1,355,554	$	1,322,606

The following table sets forth the carrying value of Residential's mortgage loans held for sale, the related unpaid principal balance and market value of underlying properties by delinquency status as of December 31, 2015 ($ in thousands):



	Number of Loans	Carrying Value		Unpaid Principal Balance		Market Value of Underlying Properties
December 31, 2015
Current	58	$	10,864	$	13,466	$	17,776
30	26	7,616		10,013		12,200
60	6	668		775		1,063
90	328	73,164		101,121		103,395
Foreclosure	879	225,024		314,991		330,573
Mortgage loans held for sale	1,297	$	317,336	$	440,366	$	465,007

Re-performing residential mortgage loans

For the three and six months ended June 30, 2015, Residential recognized no provision for loan loss and no adjustments to the amount of the accretable yield. For the three and six months ended June 30, 2015, Residential accreted $0.2 million and $0.5 million, respectively, into interest income with respect to these re-performing loans. As of December 31, 2015, these re-performing loans, having a UPB of $6.0 million and a carrying value of $4.0 million, were included in mortgage loans held for sale. Due to the deconsolidation of Residential, no re-performing residential mortgage loans were included in our consolidated financial statements effective from January 1, 2016.

The following table presents changes in the balance of the accretable yield for the periods indicated:



Accretable Yield	Three months ended June 30, 2015			Six months ended June 30, 2015
Balance at the beginning of the period	$	7,207		$	7,640
Acquisitions	—			—
Payments and other reductions, net	(3,084		)	(3,285		)
Accretion	(237		)	(469		)
Balance at the end of the period	$	3,886		$	3,886

Fair value of financial instruments

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Fair value of financial instruments

The following table sets forth the fair value of financial assets by level within the fair value hierarchy as of June 30, 2016 ($ in thousands):



	Level 1		Level 2		Level 3
	Quoted Prices in Active Markets		Observable Inputs other than Level 1 Prices		Unobservable Inputs
June 30, 2016
Recurring basis (assets)
Available-for-sale securities: Residential common stock	$	14,929	$	—	$	—

We did not transfer any assets from one level to another level during the six months ended June 30, 2016 or during the year ended December 31, 2015.

The carrying values of our cash and cash equivalents, related party receivables, accrued salaries and employee benefits, accounts payable and other accrued liabilities and related party payables are equal to or approximate fair value. The fair value of our available-for-sale securities is based on unadjusted quoted market prices from active markets.

As of June 30, 2016, we held 1,624,465 shares of Residential's common stock, representing approximately 2.98% of Residential's then-outstanding common stock, which is included as available-for-sale securities in our consolidated balance sheet as of June 30, 2016. At December 31, 2015, we held 324,465 shares of Residential's common stock, representing approximately 0.58% of Residential's then-outstanding common stock. All of our shares of Residential's common stock were acquired in open market transactions. As of December 31, 2015, we eliminated our investment in Residential common stock upon consolidation (see Note 1).

The following table presents the amortized cost and fair value of our available-for-sale securities as of June 30, 2016 ($ in thousands):



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Residential common stock	$	20,596	$	—	$	5,667	$	14,929
Total available-for-sale securities	$	20,596	$	—	$	5,667	$	14,929

We have recognized no other-than-temporary impairment related to our investment in Residential's common stock. Management believes that the declines in the fair value driven by temporary market fluctuations.

During the six months ended June 30, 2016, we acquired 1,300,000 shares of Residential's common stock in open market transactions at an average purchase price of $11.97 per share. We did not acquire any of Residential's common stock during the six months ended June 30, 2015.

Due to the deconsolidation of Residential effective January 1, 2016, we did not have any level 3 assets in our consolidated financial statements for the six months ended June 30, 2016.

The following describes Residential's financial assets and liabilities that were included in our consolidated financial statements as of December 31, 2015 as well as certain related activity recognized in our consolidated financial statements for the three and six months ended June 30, 2015.

The following table sets forth the fair value of Residential's financial assets and liabilities by level within the fair value hierarchy as of December 31, 2015 ($ in thousands):



	Level 1		Level 2		Level 3
	Quoted Prices in Active Markets		Observable Inputs other than Level 1 Prices		Unobservable Inputs
December 31, 2015
Recurring basis (assets)
Mortgage loans at fair value	$	—	$	—	$	960,534
Nonrecurring basis (assets)
Real estate assets held for sale	—		—		250,557
Not recognized on consolidated balance sheets at fair value (assets)
Mortgage loans held for sale	—		—		317,336
Not recognized on consolidated balance sheets at fair value (liabilities)
Repurchase agreements at fair value	—		767,513		—
Other secured borrowings	—		502,268		—

Residential did not transfer any assets from one level to another level during the year ended December 31, 2015.

The carrying values of Residential's cash and cash equivalents, restricted cash, related party receivables, accrued salaries and employee benefits, accounts payable and other accrued liabilities, and related party payables are equal to or approximate fair value. The fair values of Residential's mortgage loans at fair value and non-performing mortgage loans held for sale are estimated using our proprietary pricing model. The fair value of Residential's real estate assets held for sale is estimated using BPOs, estimated sales prices from pending contracts and discounted cash flow models. The fair value of Residential's re-performing mortgage loans held for sale is estimated using the present value of the future estimated principal and interest payments of the loan, with the discount rate used in the present value calculation representing the estimated effective yield of the loan. The fair value of Residential's repurchase agreements is estimated using the income approach based on credit spreads available currently in the market for similar floating rate debt. The fair value of Residential's other secured borrowings is estimated using observable market data.

The following table sets forth the changes in Residential's level 3 assets that are measured at fair value on a recurring basis for the three and six months ended June 30, 2015 ($ in thousands):



	Three months ended June 30, 2015			Six months ended June 30, 2015
Mortgage loans at fair value
Beginning balance	$	1,853,495		$	1,959,044
Net unrealized gain on mortgage loans	42,209			103,343
Net realized gain on mortgage loans	19,272			34,654
Mortgage loan resolutions and payments	(82,070		)	(147,238		)
Real estate tax advances to borrowers	4,264			11,391
Reclassification of realized gains on real estate sold from unrealized gains	13,175			23,977
Transfer of mortgage loans to real estate owned, net	(133,856		)	(268,682		)
Ending balance	$	1,716,489		$	1,716,489

Net unrealized gain on mortgage loans held at the end of the period	$	29,784		$	80,852

The significant unobservable inputs used in the fair value measurement of Residential's mortgage loans are discount rates, forecasts of future home prices, alternate loan resolution probabilities, resolution timelines and the value of underlying properties. 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. A decrease in the housing pricing index 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. A decrease in the value of underlying properties 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 Residential's mortgage loans as of December 31, 2015:



Input		December 31, 2015
Equity discount rate		15.0%
Debt to asset ratio		65.0%
Cost of funds		3.5% over 1 month LIBOR
Annual change in home pricing index		0.0% to 10.2%
Loan resolution probabilities — modification		0% to 44.7%
Loan resolution probabilities — rental		0% to 100.0%
Loan resolution probabilities — liquidation		0% to 100.0%
Loan resolution timelines (in years)		0.1 to 5.6
Value of underlying properties		$3,000 - $4,500,000

- 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 + Details

Borrowings

6 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Borrowings

As of June 30, 2016, we had no outstanding debt due to the deconsolidation of Residential. The following describes Residential's repurchase and loan agreements and its other secured borrowings that were included in our consolidated financial statements as of December 31, 2015.

Repurchase and loan agreements

The following table sets forth data with respect to Residential's repurchase agreements and loan agreement as of December 31, 2015 ($ in thousands):



	Maximum Borrowing Capacity		Book Value of Collateral		Amount Outstanding			Amount of Available Funding
December 31, 2015
Repurchase agreement due April 18, 2016	$	275,000	$	335,184	$	194,346		$	80,654
Repurchase agreement due September 27, 2017	750,000		708,275		371,130			378,870
Repurchase agreement due March 11, 2016	54,944		130,863		54,944			—
Loan agreement due April 8, 2016	200,000		204,578		147,093			52,907
Less: deferred debt issuance costs	—		—		(4,144		)	—
	$	1,279,944	$	1,378,900	$	763,369		$	512,431

Other secured debt

As of December 31, 2015, Residential's consolidated financial statements included three securitization trusts (ARLP 2015-1, ARLP 2014-2 and ARLP 2014-1), which were VIEs of which Residential was the primary beneficiary. Each trust was a Delaware statutory trust that was wholly-owned by Residential's operating partnership with a federally-chartered bank as its trustee.

As of December 31, 2015, the book value of the underlying securitized assets held by ARLP 2015-1 was $282.1 million, the book value of the underlying securitized assets held by ARLP 2014-2 was $322.5 million, and the book value of the underlying securitized assets held by ARLP 2014-1 was $202.3 million.

The following table sets forth data with respect to these notes as of December 31, 2015 ($ in thousands):



	Interest Rate		Amount Outstanding
December 31, 2015
ARLP Securitization Trust, Series 2015-1
ARLP 2015-1 Class A Notes due May 25, 2055 (1)	4.01	%	$	203,429
ARLP 2015-1 Class M Notes due May 25, 2044	—	%	60,000
ARLP Securitization Trust, Series 2014-2
ARLP 2014-2 Class A Notes due January 26, 2054 (2)	3.63	%	244,935
ARLP 2014-2 Class M Notes due January 26, 2054	—	%	234,010
ARLP Securitization Trust, Series 2014-1
ARLP 2014-1 Class A Notes due September 25, 2044 (3)	3.47	%	136,404
ARLP 2014-1 Class M Notes due September 25, 2044 (4)	4.25	%	32,000
Intercompany eliminations
Elimination of ARLP 2015-1 Class A Notes due to ARNS, Inc.			(34,000		)
Elimination of ARLP 2015-1 Class M Notes due to ARLP			(60,000		)
Elimination of ARLP 2014-2 Class A Notes due to ARNS, Inc.			(45,138		)
Elimination of ARLP 2014-2 Class M Notes due to ARLP			(234,010		)
Elimination of ARLP 2014-1 Class M Notes due to ARNS, Inc.			(32,000		)
Less: deferred debt issuance costs			(3,031		)
			$	502,599

_____________


(1)	The expected redemption date for the Class A Notes ranged from June 25, 2018 to June 25, 2019.


(2)	The expected redemption date for the Class A Notes ranged from November 27, 2017 to November 27, 2018.


(3)	The expected redemption date for the Class A Notes ranged from September 25, 2017 to September 25, 2018.


(4)	The expected redemption date for the Class M Notes was September 25, 2018.

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation, claims and assessments From time to time, we may be involved in various claims and legal actions arising in the ordinary course of business. Set forth below is a summary of legal proceedings to which we are a party as of June 30, 2016: City of Cambridge Retirement System v. Altisource Asset Management Corp., et al. On January 16, 2015, a putative shareholder class action complaint was filed in the United States District Court of the Virgin Islands by a purported shareholder of AAMC under the caption City of Cambridge Retirement System v. Altisource Asset Management Corp., et al., 15-cv-00004. The action names as defendants AAMC, Mr. Erbey and certain officers of AAMC and alleges that the defendants violated federal securities laws by failing to disclose material information to AAMC shareholders concerning alleged conflicts of interest held by Mr. Erbey with respect to AAMC’s relationship and transactions with Residential, Altisource, Home Loan Servicing Solutions, Ltd., Southwest Business Corporation, NewSource Reinsurance Company and Ocwen, including allegations that the defendants failed to disclose (i) the nature of relationships between Mr. Erbey, AAMC and those entities; and (ii) that the transactions were the result of an allegedly unfair process from which Mr. Erbey failed to recuse himself. The action seeks, among other things, an award of monetary damages to the putative class in an unspecified amount and an award of attorney’s and other fees and expenses. AAMC and Mr. Erbey are the only defendants who have been served with the complaint. On May 12, 2015, the court entered an order granting the motion of Denver Employees Retirement Plan to be lead plaintiff. On May 15, 2015, the court entered a scheduling order requiring plaintiff to file an amended complaint on or before June 19, 2015, and setting a briefing schedule for any motion to dismiss. Plaintiff filed an amended complaint on June 19, 2015. On July 20, 2015, AAMC and Mr. Erbey filed a motion to dismiss the amended complaint. Briefing on the motion to dismiss was completed on September 3, 2015, and we are awaiting a decision from the court on the motion. We believe the amended complaint is without merit. At this time, we are not able to predict the ultimate outcome of this matter, nor can we estimate the range of possible loss, if any. Kanga v. Altisource Asset Management Corporation, et al. On March 12, 2015, a shareholder derivative action was filed in the Superior Court of the Virgin Islands, Division of St. Croix, by a purported shareholder of AAMC under the caption Nanzeen Kanga v. William Erbey, et al., SX-15-CV-105. The action names as defendants William C. Erbey and each of the current and former members of AAMC's Board of Directors and alleges that Mr. Erbey and AAMC’s directors breached fiduciary duties in connection with the disclosures that are the subject of the City of Cambridge Retirement System case described above and certain other matters involving the relationship of Residential and AAMC. On May 15, 2015, the plaintiff and the defendants filed an agreed motion to stay the action until the earliest of any of the following events: (i) the City of Cambridge Retirement System action is dismissed with prejudice; (ii) any of the defendants in the City of Cambridge Retirement System action file an answer in that action; and (iii) defendants do not move to stay any later-filed derivative action purportedly brought on behalf of us arising from similar facts as the Kanga action and relating to the same time frame or such motion to stay is denied. At this time, we are not able to predict the ultimate outcome of this matter, nor can we estimate the range of possible loss, if any. Sokolowski v. Erbey, et al. On December 24, 2014, a shareholder derivative action was filed in the United States District Court for the Southern District of Florida by a purported shareholder of Ocwen. The action named the directors of Ocwen as defendants and alleged, among other things, various breaches of fiduciary duties by the directors of Ocwen. On February 11, 2015, plaintiff filed an amended complaint naming the directors of Ocwen as defendants and also naming Residential, AAMC, Altisource and Home Loan Servicing Solutions, Ltd. as alleged aiders and abettors of the purported breaches of fiduciary duties. The amended complaint alleges that the directors of Ocwen breached their fiduciary duties by, among other things, allegedly failing to exercise oversight over Ocwen’s compliance with applicable laws, rules and regulations; failing to exercise oversight responsibilities with respect to the accounting and financial reporting processes of Ocwen; failing to prevent conflicts of interest and allegedly improper related party transactions; failing to adhere to Ocwen’s code of conduct and corporate governance guidelines; selling personal holdings of Ocwen stock on the basis of material adverse inside information; and disseminating allegedly false and misleading statements regarding Ocwen’s compliance with regulatory obligations and allegedly self-dealing transactions with related companies. Plaintiff claims that as a result of the alleged breaches of fiduciary duties, Ocwen has suffered damages, including settlements with regulatory agencies in excess of $2 billion, injury to its reputation and corporate goodwill and exposure to governmental investigations and securities and consumer class action lawsuits. In addition to the derivative claims, the plaintiff also alleges an individual claim that Ocwen’s 2014 proxy statement allegedly contained untrue statements of material fact and failed to disclose material information in violation of federal securities laws. The plaintiff seeks, among other things, an order requiring the defendants to repay to Ocwen unspecified amounts by which Ocwen has been damaged or will be damaged, an award of an unspecified amount of exemplary damages, changes to Ocwen's corporate governance and an award of attorneys’ and other fees and expenses. On April 13, 2015, nominal defendant Ocwen and defendants Mr. Erbey and Mr. Faris filed a motion to stay the action. On July 16, 2015, we filed a motion to dismiss all claims against us in the action, based upon, among other arguments, lack of personal jurisdiction and failure to state a claim. Co-defendant Residential filed a similar motion to dismiss the complaint as to all claims asserted against it. On December 8, 2015, the court granted Residential's and our motions to dismiss for lack of personal jurisdiction with leave to amend the jurisdiction allegations no later than January 4, 2016. On December 15, 2015, Hutt v. Erbey, et al., Case No. 15-cv-81709-WPD, was transferred to the Southern District of Florida from the Northern District of Georgia. That same day, a third related derivative action, Lowinger v. Erbey, et al., Case No. 15-cv-62628-WPD, was also filed in the Southern District of Florida. The court then requested that the parties file a response stating their positions as to whether the actions should be consolidated. On December 29, 2015, we filed a response stating that we took no position on the issue of consolidation, so long as our defenses were fully reserved should plaintiff Sokolowski seek to file an amended complaint. Neither plaintiff Sokolowski nor plaintiff Hutt opposed consolidation in their responses. On December 30, 2015, the court issued an order that, among other things, extended the deadline for plaintiff Sokolowski to file its amended complaint to cure the jurisdictional defects as to Residential and us until January 13, 2016. On January 8, 2016, the court issued an order consolidating the three related actions. On February 2, 2016, Plaintiffs Sokolowski and Lowinger filed competing motions for appointment of lead counsel in the consolidated action. These motions were fully briefed on February 5, 2016. Subsequently, on February 17, 2016, the court issued an order appointing Sokolowski’s counsel as lead counsel with Lowinger’s and Hutt’s counsel serving on the executive committee of the plaintiffs. It also ordered that a consolidated complaint in the matter shall be filed no later than March 8, 2016. On March 8, 2016, the plaintiffs filed a consolidated certified shareholder derivative complaint (the “Consolidated Complaint”) in the action. On March 11, the Special Litigation Committee of Ocwen sought additional time beyond the March 31, 2016 originally anticipated completion date to analyze the Consolidated Complaint. On March 22, 2016, the parties filed a joint consent motion for entry of an order amending the briefing schedule regarding the Consolidated Complaint. On March 23, 2016, the court entered a scheduling order requiring defendants to file their motions to dismiss on or before May 13, 2016, plaintiffs to file a response to any such motion on or before June 17, 2016 and defendants to file any reply briefs on or before July 15, 2016. On May 13, 2016, we filed a motion to dismiss the Sokolowski action as to us. Subsequently, plaintiffs sought and received an extension to file their opposition to the defendants' motions to dismiss to August 19, 2016. We believe the complaint against us is without merit. At this time, we are not able to predict the ultimate outcome of this matter, nor can we estimate the range of possible loss, if any. Management does not believe that we have incurred an estimable, probable or material loss by reason of any of the above actions.

Related party transactions

6 Months Ended

Jun. 30, 2016

Related party transactions

New Asset Management Agreement with Residential

On March 31, 2015, we entered into the New AMA with Residential. The New AMA, which became effective on April 1, 2015, provides for a new management fee structure which replaces the incentive fee structure under the Original AMA as follows:

•

Base Management Fee. We are entitled to a quarterly Base Management Fee equal to 1.5% of the product of (i) Residential’s average invested equity capital for the quarter multiplied by (ii) 0.25 while Residential has fewer than 2,500 single family rental properties actually rented (“Rental Properties”). The Base Management Fee percentage increases to 1.75% of invested equity capital while Residential has between 2,500 and 4,499 rental properties and increases to 2.0% of invested equity capital while Residential has 4,500 or more rental properties;

•

Incentive Management Fee. We are entitled to a quarterly Incentive Management Fee equal to 20% of the amount by which Residential's return on invested equity capital (based on AFFO, defined as net income attributable to holders of common stock calculated in accordance with GAAP plus real estate depreciation expense minus recurring capital expenditures on all real estate assets owned by Residential) exceeds an annual hurdle return rate of between 7.0% and 8.25% (depending on the 10-year treasury rate). The Incentive Management Fee increases to 22.5% while Residential has between 2,500 and 4,499 Rental Properties and increases to 25% while Residential has 4,500 or more Rental Properties; and


•	Conversion Fee. We are entitled to a quarterly Conversion Fee equal to 1.5% of the market value of the single-family homes leased by Residential for the first time during the quarter.

Residential has the flexibility to pay up to 25% of the incentive management fee to us in shares of Residential common stock.

Under the New AMA, we will continue to be the exclusive asset manager for Residential for an initial term of 15 years from April 1, 2015, with two potential five-year extensions, subject to Residential achieving an average annual return on invested equity capital of at least 7.0%. Under the New AMA, Residential will not be required to reimburse us for the allocable compensation and routine overhead expenses of our employees and staff, all of which will now be covered by the base management fee described above. Only the compensation and benefits of the general counsel dedicated to Residential is reimbursed by Residential.

Neither party is entitled to terminate the New AMA prior to the end of the initial term, or each renewal term, other than termination by (a) Residential and/or us “for cause” for certain events such as a material breach of the New AMA and failure to cure such breach, (b) Residential for certain other reasons such as Residential’s failure to achieve a return on invested equity capital of at least 7.0% for two consecutive fiscal years after the third anniversary of the New AMA, and (c) Residential in connection with certain change of control events.

Summary of Related Party Transactions

The following table presents our significant transactions with Residential, which is a related party ($ in thousands). Prior to our adoption of ASU 2015-02 on January 1, 2016, our transactions with Residential were eliminated upon consolidation.



	Three months ended June 30, 2016		Three months ended June 30, 2015		Six months ended June 30, 2016		Six months ended June 30, 2015
Base management fees	$	4,506	$	4,752	$	8,630	$	4,752
Conversion fees	544		399		946		399
Management incentive fees (1)	—		—		—		14,900
Expense reimbursements	357		—		357		750
Professional fee sharing for negotiation of New AMA	—		—		—		2,000

______________


(1)	Pursuant to the terms of the New AMA, the management incentive fees for the first quarter of 2015 were recalculated during the fourth quarter of 2015, and it was determined that $6.9 million was reimbursable by us to Residential.

No Incentive Management Fee was due from Residential for the second quarter of 2016 because Residential's return on invested equity capital (as defined in the New AMA) for the five quarters covered by the New AMA was below the required hurdle rate. Under the New AMA, to the extent Residential has an aggregate shortfall in its return rate over the previous seven quarters, that aggregate return rate shortfall gets added to the normal quarterly 1.75% return hurdle for the next quarter before we are entitled to an Incentive Management Fee. As of June 30, 2016, Residential's aggregate return shortfall from the prior five quarters under the New AMA was approximately 26.89% of invested equity capital. Therefore, Residential must achieve a 28.64% return on invested equity capital in the third quarter of 2016 before any Incentive Management Fee will be due from Residential. In future quarters, return on invested equity capital must exceed the required hurdle for the current quarter plus any carried-forward cumulative additional hurdle shortfall from the prior seven quarters before any Incentive Management Fee will be due from Residential.

As of June 30, 2016, we held 1,624,465 shares of Residential's common stock, representing approximately 2.98% of Residential's then-outstanding common stock. At December 31, 2015, we held 324,465 shares of Residential's common stock, representing approximately 0.58% of Residential's then-outstanding common stock. All of our shares of Residential's common stock were acquired in open market transactions.

- 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 + Details

Share-based payments	6 Months Ended
Share-based payments	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based payments	Share-based payments During the six months ended June 30, 2016, we granted no share-based payments to members of management. During the three months ended June 30, 2015, we granted 44,132 shares of market-based restricted stock to certain members of executive management under our 2012 Equity Incentive Plan with a weighted average grant date fair value per share of $181.02. Our directors each received annual grants of restricted stock equal to $60 thousand based on the market value of our common stock at the time of the annual stockholders meeting. These shares of restricted stock vest and are issued after a one-year service period subject to each director attending at least 75% of the Board and committee meetings. No dividends are paid on the shares until the award is issued. During the six months ended June 30, 2016 and 2015, we granted 10,200 and 1,122 shares of restricted stock, respectively, to our directors with a weighted average grant date fair value per share of $18.08 and $162.66, respectively. We recorded $2.4 million and $4.8 million of compensation expense related to these grants for the three and six months ended June 30, 2016, respectively, and we recorded $2.1 million and $2.9 million for the three and six months ended June 30, 2015, respectively. As of June 30, 2016 and December 31, 2015, we had an aggregate $14.2 million and $18.7 million, respectively, of total unrecognized share-based compensation cost to be recognized over a weighted average remaining estimated term of 1.8 years and 2.9 years, respectively.

Income taxes	6 Months Ended
Income taxes	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Income taxes	Income taxes We are domiciled in the United States Virgin Islands (“USVI”) and under current USVI law are obligated to pay taxes in the United States Virgin Islands on income and/or capital gains. We applied for tax benefits from the United States Virgin Islands Economic Development Commission and received our certificate of benefits, effective as of February 1, 2013. Under the certificate of benefits, so long as we comply with the provisions of the certificate, we will receive a 90% exemption on our USVI-sourced income taxes until 2043. NewSource is considered a controlled foreign corporation (“CFC”) to AAMC. Subpart F income generated by a CFC is taxed currently in the USVI and is not eligible for the reduced tax rate under the certificate of benefits. As of June 30, 2016 and December 31, 2015, we accrued no interest or penalties associated with any unrecognized tax benefits, nor did we recognize any interest expense or penalty during the six months ended June 30, 2016 and 2015. As of December 31, 2015, Residential accrued no interest or penalties associated with any unrecognized tax benefits, nor did Residential recognize any interest expense or penalty during the six months ended June 30, 2015. Residential recorded nominal state and local tax expense on income and property for the three and six months ended June 30, 2015. Our subsidiaries and we remain subject to tax examination for the period from inception to December 31, 2015. Management assesses the available evidence to estimate if sufficient future taxable income will be generated to utilize existing deferred tax assets. Based on this assessment as of June 30, 2016, we recorded a valuation allowance for the deferred tax assets that we believe are more likely than not to not be realized. This valuation allowance resulted in the recognition of $0.9 million of income tax expense for the three and six months ended June 30, 2016. If, in future periods, we determine that positive evidence exists that these deferred tax assets are more likely than not to be realized, the related valuation allowance would be reversed to the extent that the deferred tax asset is more likely than not to be realized.

Earnings per share

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Earnings per share

The following table sets forth the components of diluted earnings per share (in thousands, except share and per share amounts):



	Three months ended June 30, 2016			Three months ended June 30, 2015		Six months ended June 30, 2016			Six months ended June 30, 2015
Numerator
Net (loss) income attributable to stockholders	$	(1,261	)	$	743	$	(2,201	)	7,631
Amortization of preferred stock issuance costs	52			50		104			103
Numerator for basic EPS – (loss) income available to common stockholders	(1,313		)	693		(2,305		)	7,528
Add back amortization of preferred stock issuance costs	—			50		—			103
Numerator for diluted EPS – (loss) income available to common stockholders after assumed conversions	$	(1,313	)	$	743	$	(2,305	)	$	7,631

Denominator
Weighted average common stock outstanding – basic	1,776,831			2,218,533		1,883,322			2,211,357
Stock options using treasury method	—			230,243		—			231,478
Restricted stock	—			98,179		—			109,487
Preferred stock if converted	—			200,000		—			200,000
Weighted average common stock outstanding – diluted	1,776,831			2,746,955		1,883,322			2,752,322

(Loss) earnings per basic share	$	(0.74	)	$	0.31	$	(1.22	)	$	3.40
(Loss) earnings per diluted share	$	(0.74	)	$	0.27	$	(1.22	)	$	2.77

We excluded the items presented below from the calculation of diluted earnings per share as they were antidilutive for the periods indicated:



	Three months ended June 30, 2016		Three months ended June 30, 2015		Six months ended June 30, 2016		Six months ended June 30, 2015
Numerator ($ in thousands)
Amortization of preferred stock issuance costs	$	52	$	—	$	104	$	—

Denominator (in weighted-average shares)
Stock options	167,720		—		168,659		—
Restricted stock	39,170		—		45,646		—
Preferred stock if converted	200,000		—		200,000		—

Segment information	6 Months Ended
Segment information	Jun. 30, 2016
Segment Reporting [Abstract]
Segment information	Segment information Our primary business is to provide asset management and certain corporate governance services to institutional investors. Because substantially all of our revenue is derived from the services we provide to Residential under the New AMA, we operate as a single segment focused on providing asset management and corporate governance services.

- 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
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+ Details

Subsequent events	6 Months Ended
Subsequent events	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent events	Subsequent events Management has evaluated the impact of all subsequent events through the issuance of these consolidated interim financial statements and has determined that there were no subsequent events requiring adjustment or disclosure in the financial statements.

Organization and basis of presentation (Policies)	6 Months Ended
Organization and basis of presentation (Policies)	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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 (“U.S. GAAP”). 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 interim consolidated financial statements and accompanying unaudited consolidated financial information, in our opinion, contain all adjustments that are of a normal recurring nature and necessary for a fair presentation of our financial position, results of operations and cash flows for the interim periods. The interim results are not necessarily indicative of results for a full year. We have omitted certain notes and other information from the interim consolidated financial statements presented in this Quarterly Report on Form 10-Q as permitted by the Securities and Exchange Commission (“SEC”) rules and regulations. These consolidated financial statements should be read in conjunction with our annual consolidated financial statements included within our 2015 Annual Report on Form 10-K, which was filed with the SEC on February 29, 2016. Effective January 1, 2016, the accompanying consolidated financial statements include the accounts of AAMC and its consolidated subsidiaries, which are comprised of voting interest entities in which we are determined to have a controlling financial interest under Accounting Standards Codification (“ASC”) 810, as amended by Accounting Standards Update ASU (“ASU”) 2015-02, Consolidation (Topic 810) – Amendments to the Consolidation Analysis (“ASU 2015-02”). Our voting interest entities consist entirely of our wholly owned subsidiaries. We also consider variable interest entities (“VIEs”) for consolidation where we are the primary beneficiary as described below. With the adoption of the ASU 2015-02 effective January 1, 2016, we no longer consolidate Residential as a VIE, and we currently do not have any other potential VIEs. For legal entities evaluated for consolidation, we must determine whether the interests that we hold and fees paid to us qualify as a variable interest in the entity. This includes an evaluation of fees paid to us where we act as a decision maker or service provider to the entity being evaluated. Fees received by us are not variable interests if (i) the fees are compensation for services provided and are commensurate with the level of effort required to provide those services, (ii) the service arrangement includes only terms, conditions or amounts that are customarily present in arrangements for similar services negotiated at arm’s length and (iii) our other economic interests in the VIE held directly and indirectly through our related parties, as well as economic interests held by related parties under common control, where applicable, would not absorb more than an insignificant amount of the entity’s losses or receive more than an insignificant amount of the entity’s benefits. For those entities in which we have a variable interest, we perform an analysis to first determine whether the entity is a VIE. This determination includes considering whether the entity’s equity investment at risk is sufficient, whether the voting rights of an investor are not proportional to its obligation to absorb the income or loss of the entity and substantially all of the entity's activities either involve or are conducted on behalf of that investor and its related parties and whether the entity’s at-risk equity holders have the characteristics of a controlling financial interest. A VIE must be consolidated by its primary beneficiary. Performance of such analysis requires the exercise of judgment. The primary beneficiary of a VIE is generally defined as the party who has a controlling financial interest in the VIE. We are generally deemed to have a controlling financial interest in a VIE if we have (i) the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. For purposes of evaluating (ii) above, fees paid to us are excluded if the fees are compensation for services provided commensurate with the level of effort required to be performed and the arrangement includes only customary terms, conditions or amounts present in arrangements for similar services negotiated at arm’s length. We also evaluate our economic interests in the VIE held directly by us and indirectly through our related parties, as well as economic interests held by related parties under common control, where applicable. The primary beneficiary evaluation is generally performed qualitatively on the basis of all facts and circumstances. However, quantitative information may also be considered in the analysis, as appropriate. These analyses require judgment. Changes in the economic interests (either by us, our related parties or third parties) or amendments to the governing documents of the VIE could affect an entity's status as a VIE or the determination of the primary beneficiary. The primary beneficiary evaluation is updated periodically. For voting interest entities, we shall consolidate the entity if we have a controlling financial interest. We have a controlling financial interest in a voting interest entity if (i) for legal entities other than limited partnerships, we own a majority voting interest in the entity or, for limited partnerships and similar entities, we own a majority of the entity’s kick-out rights through voting limited partnership interests and (ii) non-controlling shareholders or partners do not hold substantive participating rights and no other conditions exist that would indicate that we do not control the entity. Prior to our deconsolidation of Residential as described below, our consolidated financial statements also include those VIEs that were included within Residential consolidated financial statements. Residential had three securitization trusts, ARLP Securitization Trust, Series 2014-1 (“ARLP 2014-1”), ARLP Securitization Trust, Series 2014-2 (“ARLP 2014-2”) and ARLP Securitization Trust, Series 2015-1 (“ARLP 2015-1”), which were classified as VIEs. Because Residential is the primary beneficiary, these entities were included in the consolidated financial statements of Residential but are no longer included in our consolidated financial statements since the deconsolidation. See Note 5 for more information regarding these securitization trusts.
Deconsolidation of Residential	Effective January 1, 2016, we adopted the provisions of ASU 2015-02, and we performed an analysis of our relationship with Residential pursuant to the amended guidance. We determined that the compensation we receive in return for our services to Residential is commensurate with the level of effort required to perform such services and the arrangement includes customary terms, conditions or amounts present in arrangements for similar services negotiated at arm’s length; therefore, Residential is no longer a VIE under the amended guidance. As a result, effective January 1, 2016, we no longer consolidate the accounts of Residential. We have applied ASU 2015-02 using the modified retrospective approach, which has resulted in a cumulative-effect adjustment to equity on January 1, 2016. As a result, periods ending prior to the adoption were not impacted. The adoption effectively removed those balances previously disclosed that related to Residential from our consolidated financial statements and eliminated the amounts previously reported as noncontrolling interests in Residential as a consolidated affiliate. Subsequent to adoption, our consolidated revenues consist primarily of management fees received from Residential under the New AMA and interest and dividend income, and our consolidated expenses consist primarily of salaries and employee benefits, equity-based compensation, legal and professional fees and general and administrative expenses. As a result of our deconsolidation of Residential, we have also reclassified certain prior period amounts for consistency with the current period presentation, including accrued salaries and benefits within the consolidated balance sheet and salaries and benefits, equity-based compensation and legal and professional fees within the consolidated statement of operations. These reclassifications had no effect on the reported results of operations.
Available-for-sale securities	The securities we hold consist solely of the common stock of Residential. These securities are classified as available for sale and are reported at fair value. We adjust our investment in Residential common stock to fair value based on unadjusted quoted market prices in active markets. Changes in the fair value are recorded in accumulated other comprehensive income (loss) as changes in unrealized gain (loss) on available-for-sale securities. Our ability to sell these securities, or the price ultimately realized for these securities, depends upon the demand in the market and potential restrictions on the timing at which we may be able to sell the Residential common stock when desired.
Deferred debt issuance costs	In April 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30) - Simplifying the Presentation of Debt Issuance Costs. ASU 2015-03 requires that debt issuance costs are presented on the balance sheet as a deduction from the carrying amount of the related debt liability instead of being presented as an asset. Debt disclosures include the face amount of the debt liability and the effective interest rate. In August 2015, the FASB issued ASU 2015-15, Interest - Imputation of Interest (Subtopic 835-30) - Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. ASU 2015-15 provides additional guidance to ASU 2015-03, which did not address presentation or subsequent measurement of debt issuance costs related to line of credit arrangements. ASU 2015-15 noted that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line of credit arrangement, regardless of whether there are any outstanding borrowings on the line of credit arrangement. Residential's application of ASU 2015-03 represents a change in accounting principle and has been applied retrospectively, which resulted in i) a reclassification of the deferred debt issuance cost component of Residential's deferred leasing and financing costs to repurchase agreements and other secured borrowings and ii) a reclassification of deferred leasing cost component of Residential's deferred leasing and financing costs to prepaid expenses and other assets in our consolidated balance sheets.
Recently issued accounting standards	In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Compensation – Stock Compensation (Topic 718). ASU 2016-09 makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. ASU 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based awards. This update standard is effective for interim and annual reporting periods beginning after December 15, 2016, although early adoption is permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements. In February 2016, FASB issued ASU 2016-02, Leases (Topic 842). ASU 2016-02 requires that lessees recognize assets and liabilities for leases with lease terms greater than twelve months in the statement of financial position and also requires improved disclosures to help users of financial statements better understand the amount, timing and uncertainty of cash flows arising from leases. This update is effective for fiscal years beginning after December 15, 2018, including interim reporting periods within those fiscal years. Early adoption is permitted. We are currently evaluating the impact of this ASU on our consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10). ASU 2016-01 requires all equity investments to be measured at fair value with changes in the fair value recognized through net income (other than those accounted for under equity method of accounting or those that result in consolidation of the investee). The amendments also require an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments. In addition, the amendments eliminate the requirement to disclose the fair value of financial instruments measured at amortized cost for entities that are not public business entities and the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet for public business entities. The amendments in this Update are effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. We do not expect the impact of adopting this standard to have a material impact on our consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. In August 2015, FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, which effectively delayed the adoption date of ASU 2014-09 by one year. ASU 2014-09 is therefore effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is permitted for fiscal years, and interim periods within those years, beginning after December 15, 2016. We do not expect this amendment to have a significant effect on our consolidated financial statements.

Organization and basis of presentation (Tables)

6 Months Ended

Jun. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following table represents the effect of change on the prior periods that were reclassified as a result this adoption ($ in thousands):



	December 31, 2015
	As Previously Reported		Adjustments			Current Presentation
Assets:
Deferred leasing and financing costs (1)	$	7,886	$	(7,886	)	$	—
Prepaid expenses and other assets (1)	2,458		711			3,169
Liabilities:
Repurchase agreements	767,513		(4,144		)	763,369
Other secured borrowings	505,630		(3,031		)	502,599

____________


(1)	Upon adoption of ASU 2015-03, Residential reclassified its deferred leasing costs to prepaid expenses and other assets.

- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Mortgage loans (Tables)

6 Months Ended

Jun. 30, 2016

Mortgage Loans on Real Estate [Abstract]

Schedule of mortgage loans



	Number of Loans	Carrying Value		Unpaid Principal Balance		Market Value of Underlying Properties
December 31, 2015
Current	730	$	124,595	$	165,645	$	177,348
30	80	12,003		18,142		21,858
60	38	5,688		8,088		8,766
90	984	130,784		216,717		196,963
Foreclosure	3,907	687,464		946,962		917,671
Mortgage loans at fair value	5,739	$	960,534	$	1,355,554	$	1,322,606



	Number of Loans	Carrying Value		Unpaid Principal Balance		Market Value of Underlying Properties
December 31, 2015
Current	58	$	10,864	$	13,466	$	17,776
30	26	7,616		10,013		12,200
60	6	668		775		1,063
90	328	73,164		101,121		103,395
Foreclosure	879	225,024		314,991		330,573
Mortgage loans held for sale	1,297	$	317,336	$	440,366	$	465,007

Schedule of information for estimates of contractually required payments and cash flows expected

The following table presents changes in the balance of the accretable yield for the periods indicated:



Accretable Yield	Three months ended June 30, 2015			Six months ended June 30, 2015
Balance at the beginning of the period	$	7,207		$	7,640
Acquisitions	—			—
Payments and other reductions, net	(3,084		)	(3,285		)
Accretion	(237		)	(469		)
Balance at the end of the period	$	3,886		$	3,886

Fair value of financial instruments (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Fair value measurements, recurring and nonrecurring

The following table sets forth the fair value of financial assets by level within the fair value hierarchy as of June 30, 2016 ($ in thousands):



	Level 1		Level 2		Level 3
	Quoted Prices in Active Markets		Observable Inputs other than Level 1 Prices		Unobservable Inputs
June 30, 2016
Recurring basis (assets)
Available-for-sale securities: Residential common stock	$	14,929	$	—	$	—

The following table sets forth the fair value of Residential's financial assets and liabilities by level within the fair value hierarchy as of December 31, 2015 ($ in thousands):



	Level 1		Level 2		Level 3
	Quoted Prices in Active Markets		Observable Inputs other than Level 1 Prices		Unobservable Inputs
December 31, 2015
Recurring basis (assets)
Mortgage loans at fair value	$	—	$	—	$	960,534
Nonrecurring basis (assets)
Real estate assets held for sale	—		—		250,557
Not recognized on consolidated balance sheets at fair value (assets)
Mortgage loans held for sale	—		—		317,336
Not recognized on consolidated balance sheets at fair value (liabilities)
Repurchase agreements at fair value	—		767,513		—
Other secured borrowings	—		502,268		—

Fair value, unrealized gains (losses)

The following table presents the amortized cost and fair value of our available-for-sale securities as of June 30, 2016 ($ in thousands):



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Residential common stock	$	20,596	$	—	$	5,667	$	14,929
Total available-for-sale securities	$	20,596	$	—	$	5,667	$	14,929

Fair value, assets measured on recurring basis, reconciliation

The following table sets forth the changes in Residential's level 3 assets that are measured at fair value on a recurring basis for the three and six months ended June 30, 2015 ($ in thousands):



	Three months ended June 30, 2015			Six months ended June 30, 2015
Mortgage loans at fair value
Beginning balance	$	1,853,495		$	1,959,044
Net unrealized gain on mortgage loans	42,209			103,343
Net realized gain on mortgage loans	19,272			34,654
Mortgage loan resolutions and payments	(82,070		)	(147,238		)
Real estate tax advances to borrowers	4,264			11,391
Reclassification of realized gains on real estate sold from unrealized gains	13,175			23,977
Transfer of mortgage loans to real estate owned, net	(133,856		)	(268,682		)
Ending balance	$	1,716,489		$	1,716,489

Net unrealized gain on mortgage loans held at the end of the period	$	29,784		$	80,852

Fair value measurements, recurring and nonrecurring, unobservable inputs

The following table sets forth quantitative information about the significant unobservable inputs used to measure the fair value of Residential's mortgage loans as of December 31, 2015:



Input		December 31, 2015
Equity discount rate		15.0%
Debt to asset ratio		65.0%
Cost of funds		3.5% over 1 month LIBOR
Annual change in home pricing index		0.0% to 10.2%
Loan resolution probabilities — modification		0% to 44.7%
Loan resolution probabilities — rental		0% to 100.0%
Loan resolution probabilities — liquidation		0% to 100.0%
Loan resolution timelines (in years)		0.1 to 5.6
Value of underlying properties		$3,000 - $4,500,000

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details

Borrowings (Tables)

6 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Schedule of repurchase agreements

The following table sets forth data with respect to Residential's repurchase agreements and loan agreement as of December 31, 2015 ($ in thousands):



	Maximum Borrowing Capacity		Book Value of Collateral		Amount Outstanding			Amount of Available Funding
December 31, 2015
Repurchase agreement due April 18, 2016	$	275,000	$	335,184	$	194,346		$	80,654
Repurchase agreement due September 27, 2017	750,000		708,275		371,130			378,870
Repurchase agreement due March 11, 2016	54,944		130,863		54,944			—
Loan agreement due April 8, 2016	200,000		204,578		147,093			52,907
Less: deferred debt issuance costs	—		—		(4,144		)	—
	$	1,279,944	$	1,378,900	$	763,369		$	512,431

Schedule of other secured debt

The following table sets forth data with respect to these notes as of December 31, 2015 ($ in thousands):



	Interest Rate		Amount Outstanding
December 31, 2015
ARLP Securitization Trust, Series 2015-1
ARLP 2015-1 Class A Notes due May 25, 2055 (1)	4.01	%	$	203,429
ARLP 2015-1 Class M Notes due May 25, 2044	—	%	60,000
ARLP Securitization Trust, Series 2014-2
ARLP 2014-2 Class A Notes due January 26, 2054 (2)	3.63	%	244,935
ARLP 2014-2 Class M Notes due January 26, 2054	—	%	234,010
ARLP Securitization Trust, Series 2014-1
ARLP 2014-1 Class A Notes due September 25, 2044 (3)	3.47	%	136,404
ARLP 2014-1 Class M Notes due September 25, 2044 (4)	4.25	%	32,000
Intercompany eliminations
Elimination of ARLP 2015-1 Class A Notes due to ARNS, Inc.			(34,000		)
Elimination of ARLP 2015-1 Class M Notes due to ARLP			(60,000		)
Elimination of ARLP 2014-2 Class A Notes due to ARNS, Inc.			(45,138		)
Elimination of ARLP 2014-2 Class M Notes due to ARLP			(234,010		)
Elimination of ARLP 2014-1 Class M Notes due to ARNS, Inc.			(32,000		)
Less: deferred debt issuance costs			(3,031		)
			$	502,599

_____________


(1)	The expected redemption date for the Class A Notes ranged from June 25, 2018 to June 25, 2019.


(2)	The expected redemption date for the Class A Notes ranged from November 27, 2017 to November 27, 2018.


(3)	The expected redemption date for the Class A Notes ranged from September 25, 2017 to September 25, 2018.


(4)	The expected redemption date for the Class M Notes was September 25, 2018.

Related party transactions (Tables)

6 Months Ended

Jun. 30, 2016

Schedule of related party transactions



	Three months ended June 30, 2016		Three months ended June 30, 2015		Six months ended June 30, 2016		Six months ended June 30, 2015
Base management fees	$	4,506	$	4,752	$	8,630	$	4,752
Conversion fees	544		399		946		399
Management incentive fees (1)	—		—		—		14,900
Expense reimbursements	357		—		357		750
Professional fee sharing for negotiation of New AMA	—		—		—		2,000

______________


(1)	Pursuant to the terms of the New AMA, the management incentive fees for the first quarter of 2015 were recalculated during the fourth quarter of 2015, and it was determined that $6.9 million was reimbursable by us to Residential.

Earnings per share (Tables)

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Schedule of earning per share, basic and diluted

The following table sets forth the components of diluted earnings per share (in thousands, except share and per share amounts):



	Three months ended June 30, 2016			Three months ended June 30, 2015		Six months ended June 30, 2016			Six months ended June 30, 2015
Numerator
Net (loss) income attributable to stockholders	$	(1,261	)	$	743	$	(2,201	)	7,631
Amortization of preferred stock issuance costs	52			50		104			103
Numerator for basic EPS – (loss) income available to common stockholders	(1,313		)	693		(2,305		)	7,528
Add back amortization of preferred stock issuance costs	—			50		—			103
Numerator for diluted EPS – (loss) income available to common stockholders after assumed conversions	$	(1,313	)	$	743	$	(2,305	)	$	7,631

Denominator
Weighted average common stock outstanding – basic	1,776,831			2,218,533		1,883,322			2,211,357
Stock options using treasury method	—			230,243		—			231,478
Restricted stock	—			98,179		—			109,487
Preferred stock if converted	—			200,000		—			200,000
Weighted average common stock outstanding – diluted	1,776,831			2,746,955		1,883,322			2,752,322

(Loss) earnings per basic share	$	(0.74	)	$	0.31	$	(1.22	)	$	3.40
(Loss) earnings per diluted share	$	(0.74	)	$	0.27	$	(1.22	)	$	2.77

Schedule of antidilutive securities excluded from computation of earnings per share

We excluded the items presented below from the calculation of diluted earnings per share as they were antidilutive for the periods indicated:



	Three months ended June 30, 2016		Three months ended June 30, 2015		Six months ended June 30, 2016		Six months ended June 30, 2015
Numerator ($ in thousands)
Amortization of preferred stock issuance costs	$	52	$	—	$	104	$	—

Denominator (in weighted-average shares)
Stock options	167,720		—		168,659		—
Restricted stock	39,170		—		45,646		—
Preferred stock if converted	200,000		—		200,000		—

Organization and basis of presentation (Details)			1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
Organization and basis of presentation (Details)	Apr. 01, 2015 extension	Dec. 21, 2012	Sep. 30, 2015 USD ($)	Oct. 31, 2013 USD ($)	Jun. 30, 2016 servicer $ / shares	Jun. 30, 2015 $ / shares	Jun. 30, 2016 servicer $ / shares	Jun. 30, 2015 $ / shares	Dec. 31, 2015 securitization_trust
Organization and Basis of Presentation [Line Items]
Number of mortgage servicers, related party \| servicer					1		1
Asset management agreement, term	15 years	15 years
(Loss) earnings per basic share (usd per share)					$ (0.74)	$ 0.31	$ (1.22)	$ 3.40
(Loss) earnings per diluted share (usd per share)					(0.74)	$ 0.27	(1.22)	$ 2.77
Number of securitization trusts \| securitization_trust									3
As Previously Reported
Organization and Basis of Presentation [Line Items]
(Loss) earnings per basic share (usd per share)					(0.23)		(0.74)
(Loss) earnings per diluted share (usd per share)					$ (0.23)		$ (0.74)
NewSource Reinsurance Company Ltd. \| Common Stock
Organization and Basis of Presentation [Line Items]
Payments made for investments \| $			$ 5,000,000	$ 2,000,000
Percent of common stock owned of investments				100.00%
Affiliated entity \| Asset Management Agreement (AMA) \| Altisource Residential Corporation
Organization and Basis of Presentation [Line Items]
Number of potential renewal extensions \| extension	2
Automatic renewal term	5 years
Altisource Residential Corporation
Organization and Basis of Presentation [Line Items]
Number of mortgage servicers \| servicer					3		3

Organization and basis of presentation - Effect of new accounting pronouncement (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred leasing and financing costs		$ 0
Prepaid expenses and other assets	$ 1,379	3,169
Repurchase agreements		763,369
Other secured borrowings	$ 0	502,599
As Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred leasing and financing costs		7,886
Prepaid expenses and other assets		2,458
Repurchase agreements		767,513
Other secured borrowings		505,630
Adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred leasing and financing costs		(7,886)
Prepaid expenses and other assets		711
Repurchase agreements		(4,144)
Other secured borrowings		$ (3,031)

Real estate assets, net (Details)	Jun. 30, 2016 USD ($)	Dec. 31, 2015 USD ($) property
Real Estate [Abstract]
Real estate assets \| $	$ 0
Number of real estate properties held for use		4,933
Number of real estate properties rented		2,118
Number of real estate properties listed for rent		264
Number of real estate properties in renovation or unit turn status		350
Number of real estate properties under evaluation for rental portfolio		2,201
Number of real estate properties held for sale		1,583
Real estate assets held for sale (from previously consolidated VIE as of December 31, 2015) \| $	$ 0	$ 250,557,000

Mortgage loans - Narrative (Details) $ in Thousands	3 Months Ended	6 Months Ended
Mortgage loans - Narrative (Details) $ in Thousands	Jun. 30, 2015 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2016 loan	Dec. 31, 2015 USD ($) loan
Mortgage Loans on Real Estate [Line Items]
Accretion	$ 200	$ 500
Performing Financing Receivable \| Loans receivable \| Residential mortgage
Mortgage Loans on Real Estate [Line Items]
Balance of performing loans held for investment				$ 6,000
Mortgage loans held for sale (from consolidated VIE)				$ 4,000
Residential portfolio segment \| Loans receivable \| Residential mortgage
Mortgage Loans on Real Estate [Line Items]
Number of mortgage loans \| loan			0	1,297
Balance of performing loans held for investment				$ 440,366

Mortgage loans - Certain Loans Acquired Not Accounted For As Debt Securities (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items]
Balance at the beginning of the period	$ 7,207		$ 7,640
Acquisitions	0		0
Payments and other reductions, net	(3,084)		(3,285)
Accretion	(237)	$ 0	(469)
Balance at the end of the period	$ 3,886		$ 3,886

Mortgage loans - Schedule of mortgage loans (Details) - Residential mortgage - Residential portfolio segment - Loans receivable $ in Thousands	Jun. 30, 2016 loan	Dec. 31, 2015 USD ($) loan
Number of loans
Current \| loan		58
Foreclosure \| loan		879
Mortgage Loans \| loan	0	1,297
Carrying value
Current		$ 10,864
Foreclosure		225,024
Mortgage loans		317,336
Unpaid Principal Balance
Current		13,466
Foreclosure		314,991
Mortgage loans		440,366
Market Value of Underlying Properties
Current		17,776
Foreclosure		330,573
Mortgage loans		$ 465,007
Nonperforming Financing Receivable
Number of loans
Current \| loan		730
Foreclosure \| loan		3,907
Mortgage Loans \| loan		5,739
Carrying value
Current		$ 124,595
Foreclosure		687,464
Mortgage loans		960,534
Unpaid Principal Balance
Current		165,645
Foreclosure		946,962
Mortgage loans		1,355,554
Market Value of Underlying Properties
Current		177,348
Foreclosure		917,671
Mortgage loans		$ 1,322,606
30 to 59 Days Past Due
Number of loans
Past Due \| loan		26
Carrying value
Past Due		$ 7,616
Unpaid Principal Balance
Past Due		10,013
Market Value of Underlying Properties
Past Due		$ 12,200
30 to 59 Days Past Due \| Nonperforming Financing Receivable
Number of loans
Past Due \| loan		80
Carrying value
Past Due		$ 12,003
Unpaid Principal Balance
Past Due		18,142
Market Value of Underlying Properties
Past Due		$ 21,858
60 to 89 Days Past Due
Number of loans
Past Due \| loan		6
Carrying value
Past Due		$ 668
Unpaid Principal Balance
Past Due		775
Market Value of Underlying Properties
Past Due		$ 1,063
60 to 89 Days Past Due \| Nonperforming Financing Receivable
Number of loans
Past Due \| loan		38
Carrying value
Past Due		$ 5,688
Unpaid Principal Balance
Past Due		8,088
Market Value of Underlying Properties
Past Due		$ 8,766
Equal to Greater than 90 Days Past Due
Number of loans
Past Due \| loan		328
Carrying value
Past Due		$ 73,164
Unpaid Principal Balance
Past Due		101,121
Market Value of Underlying Properties
Past Due		$ 103,395
Equal to Greater than 90 Days Past Due \| Nonperforming Financing Receivable
Number of loans
Past Due \| loan		984
Carrying value
Past Due		$ 130,784
Unpaid Principal Balance
Past Due		216,717
Market Value of Underlying Properties
Past Due		$ 196,963

Fair value of financial instruments - Narrative (Details) - Common Stock - Altisource Residential Corporation - $ / shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Investment Holdings [Line Items]
Shares acquired in Residential	1,624,465		324,465
Investment owned, ownership percentage	2.98%
Noncontrolling interest, ownership percentage			0.58%
Additional shares acquired in Residential (shares)	1,300,000	0
Average purchase price per share of additional shares acquired in Residential (usd per share)	$ 11.97

Fair value of financial instruments - Fair value, assets and liabilities measured on recurring and nonrecurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 14,929
Level 1, Quoted prices in active markets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale		$ 0
Repurchase agreements at fair value		0
Other secured borrowings		0
Level 2, Observable inputs other than Level 1 prices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale		0
Repurchase agreements at fair value		767,513
Other secured borrowings		502,268
Level 3, Unobservable inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for sale		317,336
Repurchase agreements at fair value		0
Other secured borrowings		0
Fair value measurements, recurring \| Level 1, Quoted prices in active markets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans		0
Fair value measurements, recurring \| Level 2, Observable inputs other than Level 1 prices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans		0
Fair value measurements, recurring \| Level 3, Unobservable inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans		960,534
Fair value measurements, nonrecurring \| Level 1, Quoted prices in active markets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate assets held for sale		0
Fair value measurements, nonrecurring \| Level 2, Observable inputs other than Level 1 prices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate assets held for sale		0
Fair value measurements, nonrecurring \| Level 3, Unobservable inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate assets held for sale		$ 250,557
Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	14,929
Common Stock \| Fair value measurements, recurring \| Level 1, Quoted prices in active markets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	14,929
Common Stock \| Fair value measurements, recurring \| Level 2, Observable inputs other than Level 1 prices
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0
Common Stock \| Fair value measurements, recurring \| Level 3, Unobservable inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 0

Fair value of financial instruments - Fair value, unrealized gains (losses) (Details) $ in Thousands	Jun. 30, 2016 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	$ 20,596
Gross Unrealized Gains	0
Gross Unrealized Losses	5,667
Fair Value	14,929
Common Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortized Cost	20,596
Gross Unrealized Gains	0
Gross Unrealized Losses	5,667
Fair Value	$ 14,929

Fair value of financial instruments - Fair value, assets measure on recurring basis, unobservable inputs (Details) - Residential mortgage - Fair value, inputs, level 3 - Loans receivable - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 1,853,495	$ 1,959,044
Net unrealized gain on mortgage loans	42,209	103,343
Net realized gain on mortgage loans	19,272	34,654
Mortgage loan resolutions and payments	(82,070)	(147,238)
Real estate tax advances to borrowers	4,264	11,391
Reclassification of realized gains on real estate sold from unrealized gains	13,175	23,977
Transfer of mortgage loans to real estate owned, net	(133,856)	(268,682)
Ending balance	1,716,489	1,716,489
Net unrealized gain on mortgage loans held at the end of the period	$ 29,784	$ 80,852

Fair value of financial instruments - Fair value inputs, quantitative information (Details) - Residential mortgage - Loans receivable - Fair value, inputs, level 3 $ in Thousands	12 Months Ended
	Dec. 31, 2015 USD ($)
Fair value inputs, assets, quantitative information [Line Items]
Equity discount rate	15.00%
Debt to asset ratio	65.00%
Cost of funds	3.50%
LIBOR reference rate	1 month LIBOR
Minimum
Fair value inputs, assets, quantitative information [Line Items]
Annual change in home pricing index	0.00%
Loan resolution probabilities — modification	0.00%
Loan resolution probabilities — rental	0.00%
Loan resolution probabilities — liquidation	0.00%
Loan resolution timelines (in years)	1 month 6 days
Value of underlying properties	$ 3
Maximum
Fair value inputs, assets, quantitative information [Line Items]
Annual change in home pricing index	10.20%
Loan resolution probabilities — modification	44.70%
Loan resolution probabilities — rental	100.00%
Loan resolution probabilities — liquidation	100.00%
Loan resolution timelines (in years)	5 years 7 months
Value of underlying properties	$ 4,500

Borrowings - Repurchase Agreements (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Debt [Line Items]
Less: deferred debt issuance costs		$ 0
Amount Outstanding	$ 0	763,369,000
Residential
Debt [Line Items]
Amount Outstanding	$ 0
Securities Sold under Agreements to Repurchase \| Repurchase agreement due April 18, 2016 \| Residential
Debt [Line Items]
Maximum Borrowing Capacity		275,000,000
Book value of collateral		335,184,000
Amount Outstanding, before debt issuance costs		194,346,000
Amount of Available Funding		80,654,000
Securities Sold under Agreements to Repurchase \| Repurchase agreement due September 27, 2017 \| Residential
Debt [Line Items]
Maximum Borrowing Capacity		750,000,000
Book value of collateral		708,275,000
Amount Outstanding, before debt issuance costs		371,130,000
Amount of Available Funding		378,870,000
Securities Sold under Agreements to Repurchase \| Repurchase agreement due March 11, 2016 \| Residential
Debt [Line Items]
Maximum Borrowing Capacity		54,944,000
Book value of collateral		130,863,000
Amount Outstanding, before debt issuance costs		54,944,000
Amount of Available Funding		0
Securities Sold under Agreements to Repurchase \| Nomura loan agreement \| Residential
Debt [Line Items]
Maximum Borrowing Capacity		200,000,000
Book value of collateral		204,578,000
Amount of Available Funding		52,907,000
Loan and Security Agreement \| Nomura loan agreement \| Residential
Debt [Line Items]
Amount Outstanding, before debt issuance costs		147,093,000
Securities Sold under Agreements to Repurchase and Loan Agreements
Debt [Line Items]
Less: deferred debt issuance costs		(4,144,000)
Securities Sold under Agreements to Repurchase and Loan Agreements \| Residential
Debt [Line Items]
Maximum Borrowing Capacity		1,279,944,000
Book value of collateral		1,378,900,000
Amount Outstanding		763,369,000
Amount of Available Funding		$ 512,431,000

Borrowings - Other Secured Debt (Details) $ in Thousands	12 Months Ended
Borrowings - Other Secured Debt (Details) $ in Thousands	Dec. 31, 2015 USD ($) securitization_trust	Jun. 30, 2016 USD ($)
Debt Instrument [Line Items]
Number of securitization trusts \| securitization_trust	3
Other secured borrowings (from previously consolidated VIE as of December 31, 2015)	$ 502,599	$ 0
Less: deferred debt issuance costs	0
Loans \| ARLP 2014-1
Debt Instrument [Line Items]
Book value of the underlying securitized assets	202,300
Loans \| ARLP 2014-2
Debt Instrument [Line Items]
Book value of the underlying securitized assets	322,500
Loans \| ARLP 2015-1
Debt Instrument [Line Items]
Book value of the underlying securitized assets	282,100
Secured debt
Debt Instrument [Line Items]
Other secured borrowings (from previously consolidated VIE as of December 31, 2015)	502,599
Less: deferred debt issuance costs	(3,031)
Secured debt \| Asset-backed securities Class A notes
Debt Instrument [Line Items]
Other secured borrowings (from previously consolidated VIE as of December 31, 2015)	$ 136,404
Interest rate on debt	3.47%
Secured debt \| Asset-backed securities Class M notes
Debt Instrument [Line Items]
Other secured borrowings (from previously consolidated VIE as of December 31, 2015)	$ 32,000
Interest rate on debt	4.25%
Secured debt issued to affiliates	$ (32,000)
Secured debt \| Asset-backed securities Class A notes Trust 2
Debt Instrument [Line Items]
Other secured borrowings (from previously consolidated VIE as of December 31, 2015)	$ 244,935
Interest rate on debt	3.63%
Secured debt issued to affiliates	$ (45,138)
Secured debt \| Asset-backed securities Class M notes Trust 2
Debt Instrument [Line Items]
Other secured borrowings (from previously consolidated VIE as of December 31, 2015)	$ 234,010
Interest rate on debt	0.00%
Secured debt issued to affiliates	$ (234,010)
Secured debt \| Asset-backed Securities Class A Notes 2015-1
Debt Instrument [Line Items]
Other secured borrowings (from previously consolidated VIE as of December 31, 2015)	$ 203,429
Interest rate on debt	4.01%
Secured debt issued to affiliates	$ (34,000)
Secured debt \| Asset-backed Securities Class M Notes 2015-1
Debt Instrument [Line Items]
Other secured borrowings (from previously consolidated VIE as of December 31, 2015)	$ 60,000
Interest rate on debt	0.00%
Secured debt issued to affiliates	$ (60,000)

Commitments and Contingencies (Details) - Sokolowski v. Erbey, et al. - Pending litigation	Jan. 08, 2016 plaintiff	Feb. 11, 2015 USD ($)
Loss Contingencies [Line Items]
Amount paid for settlements with regulatory authorities by co-defendant (in excess of) \| $		$ 2,000,000,000
Number of plaintiffs consolidated into one case \| plaintiff	3

Related party transactions (Details)			3 Months Ended		6 Months Ended		12 Months Ended
Related party transactions (Details)	Apr. 01, 2015 extension	Mar. 31, 2015 property	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Jun. 30, 2016 USD ($)	Jun. 30, 2015 USD ($)	Mar. 31, 2016	Dec. 31, 2015 USD ($)
Related party transaction [Line Items]
Period in fiscal years return on invested equity capital evaluated per agreement	2 years
US Treasury rate term		10 years
Related party receivables			$ 5,489,000		$ 5,489,000			$ 0
Altisource Residential Corporation \| Affiliated entity
Related party transaction [Line Items]
Base management fee, percent of qualified average invested capital		1.50%
Incentive management fee, return on invested capital			1.75%
Conversion fee, percent of market value of new rental properties		1.50%
Period return rate evaluated to date					15 months
Period required rate of return evaluated per new agreement					21 months
Incentive management fee, percent of incentive fee payable in common stock		25.00%
Deficit of return on invested capital							26.89%
Cumulative deficit of return on invested capital			28.64%		28.64%
Altisource Residential Corporation \| Affiliated entity \| Asset management fee, threshold one
Related party transaction [Line Items]
Incentive management fee, percent of average invested capital		25.00%
Base management fee, number of rental properties cap \| property		2,500
Incentive management fee, percent of invested capital in excess of threshold		20.00%
Altisource Residential Corporation \| Affiliated entity \| Asset management fee, threshold two
Related party transaction [Line Items]
Incentive management fee, percent of average invested capital		1.75%
Base management fee, number of rental properties floor \| property		2,500
Incentive management fee, number of rental properties cap \| property		4,499
Incentive management fee, number of rental properties floor \| property		2,500
Incentive management fee, percent of invested capital in excess of threshold		22.50%
Altisource Residential Corporation \| Affiliated entity \| Asset management fee, threshold three
Related party transaction [Line Items]
Incentive management fee, percent of average invested capital		2.00%
Incentive management fee, number of rental properties floor \| property		4,500
Incentive management fee, percent of invested capital in excess of threshold		25.00%
Altisource Residential Corporation \| Affiliated entity \| Asset Management Agreement (AMA)
Related party transaction [Line Items]
Number of potential renewal extensions \| extension	2
Automatic renewal term	5 years
Contract term	15 years
Altisource Residential Corporation \| Affiliated entity \| Expense reimbursements
Related party transaction [Line Items]
Related party expenses			$ 357,000	$ 0	$ 357,000	$ 750,000
Altisource Residential Corporation \| Affiliated entity \| Conversion fee
Related party transaction [Line Items]
Related party expenses			544,000	399,000	946,000	399,000
Altisource Residential Corporation \| Affiliated entity \| Base management fee
Related party transaction [Line Items]
Related party expenses			4,506,000	4,752,000	8,630,000	4,752,000
Altisource Residential Corporation \| Affiliated entity \| Professional fee sharing for negotiation of AMA
Related party transaction [Line Items]
Related party expenses			0	0	0	2,000,000
Altisource Residential Corporation \| Affiliated entity \| Management incentive fee
Related party transaction [Line Items]
Related party expenses			0	$ 0	0	$ 14,900,000
Related party payables								$ 6,900,000
Related party receivables			$ 0		$ 0
Minimum \| Altisource Residential Corporation \| Affiliated entity
Related party transaction [Line Items]
Incentive management fee, return on invested capital	7.00%	7.00%
Maximum \| Altisource Residential Corporation \| Affiliated entity
Related party transaction [Line Items]
Incentive management fee, return on invested capital		8.25%

Share-based payments (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
Share-based payments (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Share-based compensation arrangement by share-based payment award [Line Items]
Share-based compensation expense	$ 2,400,000	$ 2,100,000	$ 4,800,000	$ 2,900,000
Unamortized stock compensation	$ 14,200,000		$ 14,200,000		$ 18,700,000
Weighted average remaining amortization period of unamortized share based compensation			1 year 10 months		2 years 11 months
Management
Share-based compensation arrangement by share-based payment award [Line Items]
Shares of restricted stock granted (in shares)			0
Director \| Restricted stock
Share-based compensation arrangement by share-based payment award [Line Items]
Shares of restricted stock granted (in shares)			10,200	1,122
Value of restricted stock granted to directors annually			$ 60,000
Required service period for restricted stock			1 year
Director attendance requirement			75.00%
The 2012 Equity Incentive Plan \| Restricted stock
Share-based compensation arrangement by share-based payment award [Line Items]
Shares of restricted stock granted (in shares)		44,132
Weighted average grant date fair value of market based restricted stock granted (usd per share)		$ 181.02	$ 18.08	$ 162.66

Income taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
Income taxes (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income tax exemption, percentage			90.00%
Entity Information [Line Items]
Interest and penalties accrued	$ 0		$ 0		$ 0
Interest and penalties expensed			0	$ 0
Income tax expense	873,000	$ 194,000	862,000	$ 337,000
Residential
Entity Information [Line Items]
Interest and penalties accrued	$ 0		$ 0		$ 0

Earnings per share (Details) - USD ($)	3 Months Ended		6 Months Ended
Earnings per share (Details) - USD ($)	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net (loss) income attributable to stockholders	$ (1,261,000)	$ 743,000	$ (2,201,000)	$ 7,631,000
Amortization of preferred stock issuance costs	52,000	50,000	104,000	103,000
Numerator for basic EPS – (loss) income available to common stockholders	(1,313,000)	693,000	(2,305,000)	7,528,000
Add back amortization of preferred stock issuance costs	0	50,000	0	103,000
Numerator for diluted EPS – (loss) income available to common stockholders after assumed conversions	$ (1,313,000)	$ 743,000	$ (2,305,000)	$ 7,631,000
Weighted average common stock outstanding – basic (shares)	1,776,831	2,218,533	1,883,322	2,211,357
Stock options using treasury method (shares)	0	230,243	0	231,478
Restricted stock (shares)	0	98,179	0	109,487
Preferred stock if converted (shares)	0	200,000	0	200,000
Weighted average common stock outstanding – diluted (shares)	1,776,831	2,746,955	1,883,322	2,752,322
(Loss) earnings per basic share (usd per share)	$ (0.74)	$ 0.31	$ (1.22)	$ 3.40
(Loss) earnings per diluted share (usd per share)	$ (0.74)	$ 0.27	$ (1.22)	$ 2.77
Amortization of preferred stock issuance costs	$ 52,000	$ 0	$ 104,000	$ 0
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share computation (in shares)	167,720,000	0	168,659,000	0
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share computation (in shares)	39,170,000	0	45,646,000	0
Preferred stock if converted
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from earnings per share computation (in shares)	200,000,000	0	200,000,000	0