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NOTE 15 OTHER BORROWINGS (Detail) -(Table 1) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Dec. 31, 2012
Debt Instrument [Line Items]    
Balance Outstanding $ 2,178,087 $ 1,104,911
Available Borrowing Capacity 724,342  
Discount (6,009) [1],[2] (8,232) [1],[2]
Balance Outstanding 2,172,078 1,096,679
Servicing
    
Debt Instrument [Line Items]    
Balance Outstanding 1,750,354 714,003
Available Borrowing Capacity 92,579  
Servicing | SSTL | Sept. 2016
    
Debt Instrument [Line Items]    
Interest Rate 1ML + 550 bps; LIBOR floor of 150 bps [1]  
Maturity Sept. 2016 [1]  
Balance Outstanding    [1] 314,229 [1]
Servicing | SSTL | Feb. 2018
    
Debt Instrument [Line Items]    
Maturity Feb. 2018 [2]  
Balance Outstanding 1,296,750 [2]    [2]
Servicing | Senior unsecured term loan
    
Debt Instrument [Line Items]    
Interest Rate 1-Month Euro-dollar rate + 675 bps with a Eurodollar floor of 150 bps [3]  
Maturity Mar. 2017 [3]  
Balance Outstanding    [3] 75,000 [3]
Servicing | Financing liability - MSRs pledged | HLSS
    
Debt Instrument [Line Items]    
Collateral MSRs [4]  
Balance Outstanding 428,339 [4] 303,705 [4]
Servicing | Financing liability - MSRs pledged | Unrelated third party
    
Debt Instrument [Line Items]    
Collateral MSRs [5]  
Balance Outstanding    [5] 2,603 [5]
Servicing | Promissory note
    
Debt Instrument [Line Items]    
Collateral MSRs [6]  
Interest Rate 1ML + 350 bps [6]  
Maturity May 2017 [6]  
Balance Outstanding 17,844 [6] 18,466 [6]
Servicing | Repurchase agreement | Apr 2014
    
Debt Instrument [Line Items]    
Collateral Loans held for sale (LHFS)  
Interest Rate 1 ML + 250 - 345 bps  
Maturity Apr. 2014  
Balance Outstanding 7,421   
Available Borrowing Capacity 92,579  
Lending
    
Debt Instrument [Line Items]    
Balance Outstanding 423,688 388,075
Available Borrowing Capacity 631,763  
Lending | Master repurchase agreement | Mar. 2014
    
Debt Instrument [Line Items]    
Collateral LHFS [7]  
Interest Rate 1ML + 175 bps [7]  
Maturity Mar. 31, 2014 [7]  
Balance Outstanding 68,125 [7] 88,122 [7]
Available Borrowing Capacity 231,875 [7]  
Lending | Master repurchase agreement | Aug 2013
    
Debt Instrument [Line Items]    
Collateral LHFS [8]  
Interest Rate 1 ML + 200 bps [8]  
Maturity Aug. 31, 2013 [8]  
Balance Outstanding 106,608 [8] 133,995 [8]
Available Borrowing Capacity 143,392 [8]  
Lending | Master repurchase agreement | Aug 2013
    
Debt Instrument [Line Items]    
Collateral LHFS  
Interest Rate 1ML + 275 bps  
Maturity Aug. 31, 2013  
Balance Outstanding 60,310   
Available Borrowing Capacity 39,690  
Lending | Master repurchase agreement | Jul. 2013
    
Debt Instrument [Line Items]    
Collateral LHFS  
Interest Rate 1ML + 200 bps  
Maturity Jul. 31, 2013  
Balance Outstanding 83,194 107,020
Available Borrowing Capacity 216,806  
Lending | Participation agreement | May 2014
    
Debt Instrument [Line Items]    
Collateral LHFS [9]  
Interest Rate N/A [9]  
Maturity May 31, 2014 [9]  
Balance Outstanding 21,742 [9] 58,938 [9]
Lending | Secured borrowings owed to securitization investors
    
Debt Instrument [Line Items]    
Collateral Loans held for investment [10]  
Interest Rate 1 ML + 220 bps [10]  
Balance Outstanding 73,641 [10]    [10]
Lending | Financing liability - MSRs pledged
    
Debt Instrument [Line Items]    
Collateral MSRs [5]  
Balance Outstanding 10,068 [5]    [5]
Corporate Items and Other
    
Debt Instrument [Line Items]    
Balance Outstanding 2,178,087 1,104,911
Available Borrowing Capacity 724,342  
Corporate Items and Other | Securities sold under an agreement to repurchase
    
Debt Instrument [Line Items]    
Collateral Ocwen Real Estate Asset Liquidating Trust 2007-1 Notes [11]  
Interest Rate Class A-2 notes: 1ML + 200 bps; Class A-3 notes: 1ML + 300 bps [11]  
Maturity Monthly [11]  
Balance Outstanding $ 4,045 [11] $ 2,833 [11]
[1] In February 2013, we repaid this loan in full and wrote off the remaining discount as part of the loss on extinguishment.
[2] On February 15, 2013, we entered into a new SSTL facility agreement and borrowed $1.3 billion that was used principally to fund the ResCap Acquisition and repay the balance of the previous SSTL. The loan was issued with an original issue discount of $6.5 million that we are amortizing over the term of the loan. We are required to repay the principal amount of the borrowings in consecutive quarterly installments of $3.3 million. In addition, we are required to use the net cash proceeds (as defined) from any asset sale (as defined) to repay loan principal. Generally, this provision applies to non-operating sales of assets, such as the HLSS Transactions, and generally, net cash proceeds represent the proceeds from the sale of the assets, net of the repayment of any debt secured by a lien on the assets sold. The borrowings are secured by a first priority security interest in substantially all of the assets of Ocwen. 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 in effect on such day, (ii) the federal funds rate in effect on such day plus 0.50% and (iii) the one-month Eurodollar rate (1-Month LIBOR)], plus a margin of 2.75% and a base rate floor of 2.25% or (b) the one month Eurodollar rate, plus a margin of 3.75% with a 1-Month LIBOR floor of 1.25%. To date we have elected option (b) to determine the interest rate.
[3] We repaid this loan in full in February 2013.
[4] As part of the HLSS Transactions, we transfer certain Rights to MSRs to HLSS. Because we have not yet transferred legal title to the MSRs, we account for these transfers as financings with the proceeds from the sale of the Rights to MSRs recorded as a financing liability. The financing liability is 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 is amortized over the estimated life of the transferred Rights to MSRs. The balance of the liability is reduced each month based on the change in the estimated fair value of the transferred rights to MSRs. See Note 3 - Transfers of Financial Assets for additional information.
[5] We sold MSRs for certain loans to an unrelated third party in December 2012 and June 2013; however, we are required to repurchase the MSRs for any loans that cannot be refinanced by the purchaser under the federal government's Home Affordable Refinance Program (HARP). As a result, the sale is being accounted for as a financing. The financing liability is being amortized using the interest method with the servicing income that is remitted to the purchaser representing payments of principal and interest. In June 2013, we derecognized a portion of the liability from the December 2012 sale related to loans that had been refinanced under HARP and recognized a $3.2 million gain on the retirement of the financing liability.
[6] Prepayments of the balance on this note may be required if the borrowing base, as defined, falls below the amount of the note outstanding.
[7] On March 19, 2013, the maturity date of the Master Repurchase Agreement was extended to March 18, 2014 and the maximum borrowing capacity was increased to $120.0 million to $300.0 million.
[8] On June 12, 2013, the maturity date of the Master Repurchase Agreement was extended to August 2, 2013.
[9] Under this participation agreement, the lender provides financing on an uncommitted basis for up to $100.0 million at the discretion of the lender. The participation agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. However, the transaction does not qualify for sales accounting treatment and is, therefore, accounted for as a financing. The lender earns the stated interest rate of the underlying mortgage loans while the loans are financed under the participation agreement. In April 2013, we extended the participation agreement maturity date to May 31, 2014.
[10] This represents amounts due to the holders of beneficial interests in Ginnie Mae guaranteed securitization that we include in our consolidated financial statements because the transfers of reverse mortgage loans to the trusts did not qualify for sales accounting treatment. There are no maturity dates; the borrowings mature as the related loans are repaid.
[11] This agreement has no stated credit limit and lending is determined for each transaction based on the acceptability of the securities presented as collateral.