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Note 12 LINES OF CREDIT AND OTHER SECURED BORROWINGS | 3 Months Ended
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Mar. 31, 2012
Secured Debt Other [Text Block] | Note 12 LINES OF CREDIT AND OTHER SECURED BORROWINGS Lines of credit and other secured borrowings are comprised of the following:
|  |  |  |  |  |  |  | Unused |  | Balance Outstanding
Borrowings |  | Collateral |  | Interest Rate |  | Maturity |  | Borrowing Capacity |  | March 31, 2012 |  | December 31, 2011
Servicing: |  |  |  |  |  |  |  |  |  |  |  |
Senior secured term loan (1) |  |  | (1) |  |  |  | 1-Month LIBOR + 550 bps with a LIBOR floor of 1.50% (1) |  |  |  | Sept. 2016 |  |  | $ | — |  |  | $ | 494,426 |  |  | $ | 546,250 |
Financing liability – MSRs pledged (2) |  |  | MSRs (2) |  |  |  | (2) |  |  |  | (2) |  |  |  | — |  |  |  | 61,674 |  |  |  | — |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | 556,100 |  |  |  | 546,250 |
Corporate Items and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities sold under an agreement to repurchase (3) |  |  | Ocwen Real Estate Asset Liquidating Trust 2007-1 Notes |  |  |  | (3) |  |  |  | (3) |  |  |  | — |  |  |  | 4,265 |  |  |  | 4,610 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 560,365 |  |  |  | 550,860 |
Discount (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |  |  |  | (9,747 | ) |  |  | (10,491 | )
|  |  |  |  |  |  |  |  |  |  |  |  |  | $ | — |  |  | $ | 550,618 |  |  | $ | 540,369 |
(1) | On September 1, 2011, we entered into a senior secured term loan facility agreement and borrowed $575,000 that was primarily used to fund a portion of the Litton Acquisition. The loan was issued with an original issue discount of $11,500 that we are amortizing over the term of the loan. Borrowings bear interest, at the election of Ocwen, at a rate per annum equal to either (a) the base rate [the greatest of (i) the prime rate of Barclays Bank PLC in effect on such day, (ii) the federal funds effective rate in effect on such day plus 0.50% and (iii) the one-month Eurodollar rate (1-Month LIBOR)], plus a margin of 4.50% and a base rate floor of 2.50% or (b) 1-Month LIBOR, plus a margin of 5.50% with a 1-Month LIBOR floor of 1.50%. We are required to repay the principal amount of the loan in consecutive quarterly installments of $14,375 per quarter commencing September 30, 2011 through June 30, 2016, with the balance becoming due on September 1, 2016. The loan is secured by a first priority security interest in substantially all of the tangible and intangible assets of Ocwen.
(2) | On March 5, 2012, Ocwen completed the HLSS Transaction, in which it transferred to HLSS the Rights to MSRs that had been acquired as part of the HomEq Acquisition. However, because Ocwen has not yet transferred legal title to the MSRs, the sale was accounted for as a financing with the proceeds from the sale of the MSRs recorded as a financing liability. The financing liability is being amortized using the interest method with the servicing income that is remitted to HLSS representing payments of principal and interest. The liability has no contractual maturity but will be amortized over the estimated life of the pledged MSRs. The balance of the liability is reduced each month based on the change in the estimated fair value of the pledged MSRs. See Note 4 for additional information regarding the HLSS Transaction.
(3) | In August 2010, we obtained financing under a repurchase agreement for the Class A-2 and A-3 notes issued by Ocwen Real Estate Asset Liquidating Trust 2007-1 which have a current face value of $28,610. This agreement has no stated credit limit and lending is determined for each transaction based on the acceptability of the securities presented as collateral. Borrowings mature and are renewed monthly. The borrowings secured by the Class A-2 notes bear interest at 1-Month LIBOR + 200 basis points and borrowings secured by the Class A-3 notes bear interest at 1-Month LIBOR + 300 basis points.

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- Definition The disclosure for information about secured debt, including repayment terms, interest rates, collateral provided, unused borrowing capacity, restrictions on use of assets and activities, and other matters important to the users of the financial statements, such as the effects of refinancing and non-compliance with debt covenants. + References No definition available. + Details
Name: | ocn_SecuredDebtOtherTextBlock
Namespace Prefix: | ocn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration