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Note 11 MATCH FUNDED LIABILITIES | 3 Months Ended
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Mar. 31, 2012
Transfers Accounted For As Secured Borrowings Associated Liabilities [Text Block] | Note 11 Match Funded Liabilities Match funded liabilities, as more fully described in Note 1—Principles of Consolidation – Match Funded Advances on Loans Serviced for Others, are comprised of the following at:
|  |  |  |  |  |  |  | Unused |  |  | Balance Outstanding |
|  |  |  |  |  | Amortization |  | Borrowing |  |  | March 31, |  |  | December 31, |
Borrowing Type |  | Interest Rate |  | Maturity (1) |  | Date (1) |  | Capacity (2) |  |  | 2012 |  |  | 2011 |
Promissory Note (3) |  | 3.3875% |  | Sept. 2013 |  | Sept. 2013 |  | $ | 125,077 |  |  | $ | 1,767,723 |  |  | $ | 1,784,043 |
Advance Receivable Backed Note Series 2009-3 (4) |  | 4.14% |  | July 2023 |  | July 2012 |  |  | — |  |  |  | 210,000 |  |  |  | 210,000 |
Variable Funding Note Series 2009-2 |  | 1-Month LIBOR + 350 bps |  | Nov. 2023 |  | Nov. 2012 |  |  | 100,000 |  |  |  | — |  |  |  | — |
Variable Funding Note Series 2009-1 (5) |  | Commercial paper rate + 200 bps or 1-Month LIBOR plus 325 bps |  | Dec. 2023 |  | Dec. 2012 |  |  | 647,205 |  |  |  | 152,795 |  |  |  | 11,687 |
Advance Receivable Backed Note Series 2010-1 (4)(6) |  | 3.59% |  | Sep. 2023 |  | Feb. 2011 |  |  | — |  |  |  | — |  |  |  | 40,000 |
Class A-1 Term Note (7) |  | Commercial paper rate + 350 bps |  | Aug. 2043 |  | Aug. 2013 |  |  | — |  |  |  | — |  |  |  | 340,185 |
Class A-2 Variable Funding Note (7) |  | Commercial paper rate + 350 bps |  | Aug. 2043 |  | Aug. 2013 |  |  | — |  |  |  | — |  |  |  | — |
Class B Term Note (7) |  | Commercial paper rate + 525 bps |  | Aug. 2043 |  | Aug. 2013 |  |  | — |  |  |  | — |  |  |  | 15,850 |
Class C Term Note (7) |  | Commercial paper rate + 625 bps |  | Aug. 2043 |  | Aug. 2013 |  |  | — |  |  |  | — |  |  |  | 15,056 |
Class D Term Note (7) |  | 1-Month LIBOR + 750 bps |  | Aug. 2043 |  | Aug. 2013 |  |  | — |  |  |  | — |  |  |  | 11,638 |
Advance Receivable Backed Notes |  | 1-Month LIBOR + 200 bps |  | Jan. 2014 |  | July 2013 |  |  | 115,195 |  |  |  | 149,805 |  |  |  | 130,492 |
|  |  |  |  |  |  |  | $ | 987,477 |  |  | $ | 2,280,323 |  |  | $ | 2,558,951 |
(1) | The amortization date of our facilities is the date on which the revolving period ends under each advance facility note and repayment of the outstanding balance must begin if the note is not renewed or extended. The maturity date is the date on which all outstanding balances must be repaid. In two advance facilities, there are multiple notes outstanding. For each note, after the amortization date, all collections that represent the repayment of advances pledged to the facility must be applied to reduce the balance of the note outstanding, and any new advances are ineligible to be financed.
(2) | Unused borrowing capacity is available to us provided that we have additional eligible collateral to pledge. Collateral may only be pledged to one facility. At March 31, 2012, we had no available unused collateral to pledge.
(3) | This note was issued in connection with the financing of advances acquired in connection with the acquisition of Litton on September 1, 2011. Borrowing capacity under this facility declined to $1,892,800 on March 1, 2012 and will further decline to $1,637,591 on September 1, 2012, $1,403,650 on March 1, 2013 and $1,169,708 on September 1, 2013.
(4) | These notes were issued under the Term Asset-Backed Securities Loan Facility program administered by the Federal Reserve Bank of New York.
(5) | The interest rate for this note is determined using a commercial paper rate that reflects the borrowing costs of the lender plus a margin of 200 bps or 1-Month LIBOR plus 325 bps if the lender funds its lending other than through commercial paper. Effective March 12, 2012 the lender transferred this note from its commercial paper conduit and began charging interest based on 1-Month LIBOR. Beginning June 15, 2012, maximum borrowing capacity under this note will be reduced to the extent that the lender’s commitment under any other advance facilities of Ocwen or its affiliates exceeds $200,000.
(6) | This note entered into its amortization period in February 2011. The 2010-1 Indenture Supplement provided for scheduled amortization of $40,000 per quarter through January 2012.
(7) | These notes were issued in connection with the financing of advances acquired as part of the HomEq Acquisition. The Class D Term Note was repaid in full on March 2, 2012. On March 5, 2012, HLSS assumed the remaining balances as part of the HLSS Transaction.

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- Definition The disclosure for debt associated with advances transferred to special purpose entities in transactions accounted for as secured borrowings recognized in the transferor's statement of financial position, including repayment terms, interest rates, unused borrowings capacity, and other matters important to users of the financial statements, such as the effects of refinancing and any non-compliance with debt covenants. + References No definition available. + Details
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