XML 43 R40.htm IDEA: XBRL DOCUMENT
v2.4.0.8

NOTE 4 BUSINESS ACQUISITIONS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2013
ResCap and Homeward Acquisitions |
Schedule of purchase price allocation |
|  | ResCap |  |  | Homeward |
Purchase Price Allocation |  | March 31, 2013 |  |  | Adjustments |  |  | Revised |  |  | December 31, 2012 |  |  | Adjustments |  |  | Revised |
Cash |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 79,511 |  |  | $ | — |  |  | $ | 79,511 |
Loans held for sale |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 558,721 |  |  |  | — |  |  |  | 558,721 |
MSRs (2) |  |  | 393,891 |  |  |  | (2,038 | ) |  |  | 391,853 | (1) |  |  | 358,119 |  |  |  | 2,225 |  |  |  | 360,344 |
Advances and match funded advances (2) |  |  | 1,622,348 |  |  |  | 100,031 |  |  |  | 1,722,379 | (1) |  |  | 2,266,882 |  |  |  | — |  |  |  | 2,266,882 | (1)
Deferred tax assets |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 47,346 |  |  |  | — |  |  |  | 47,346 | (1)
Premises and equipment |  |  | 22,398 |  |  |  | (5,975 | ) |  |  | 16,423 | (1) |  |  | 16,803 |  |  |  | (4,288 | ) |  |  | 12,515 | (1)
Debt service accounts |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 69,287 |  |  |  | — |  |  |  | 69,287 |
Investment in unconsolidated entities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,485 |  |  |  | — |  |  |  | 5,485 | (1)
Receivables and other assets (3) |  |  | 2,989 |  |  |  | — |  |  |  | 2,989 |  |  |  | 56,886 |  |  |  | (29,746 | ) |  |  | 27,140 |
Match funded liabilities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,997,459 | ) |  |  | — |  |  |  | (1,997,459 | )
Other borrowings |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (864,969 | ) |  |  | — |  |  |  | (864,969 | )
Other liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Liability for indemnification obligations |  |  | (49,500 | ) |  |  | — |  |  |  | (49,500 | ) |  |  | (32,498 | ) |  |  | — |  |  |  | (32,498 | )(1)
Liability for certain foreclosure matters (4) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (13,602 | ) |  |  | (13,602 | )(1)
Accrued bonuses |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (35,201 | ) |  |  | — |  |  |  | (35,201 | )
Checks held for escheat |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (16,418 | ) |  |  | (35 | ) |  |  | (16,453 | )(1)
Other |  |  | (24,840 | ) |  |  | (284 | ) |  |  | (25,124 | ) |  |  | (47,614 | ) |  |  | 2,763 |  |  |  | (44,851 | )(1)
Total identifiable net assets |  |  | 1,967,286 |  |  |  | 91,734 |  |  |  | 2,059,020 |  |  |  | 464,881 |  |  |  | (42,683 | ) |  |  | 422,198 |
Goodwill |  |  | 204,743 |  |  |  | (2,933 | ) |  |  | 201,810 | (1) |  |  | 300,843 |  |  |  | 41,783 |  |  |  | 342,626 | (1)
Total consideration |  | $ | 2,172,029 |  |  | $ | 88,801 |  |  | $ | 2,260,830 |  |  | $ | 765,724 |  |  | $ | (900 | ) |  | $ | 764,824 |
| (1) | Initial fair value estimate.
| (2) | As of the acquisition date, the purchase of MSRs with a UPB of $9.0 billion from ResCap was not complete pending the receipt of certain consents and court approvals. During the third quarter we obtained the required consents and approvals for a portion of these MSRs and paid an additional purchase price of $93.3 million to acquire the MSRs and related advances. The purchase price allocation has been revised to include the resulting adjustments to MSRs, advances and goodwill. We anticipate there will be additional settlements in connection with the ResCap Acquisition in the fourth quarter of 2013.
| (3) | The purchase price allocation has been revised to include a $29.7 million income tax liability, with an offsetting increase to goodwill.
| (4) | See Note 16 - Other Liabilities.
ResCap Acquisition |
Schedule of revenue and earnings |
For the Periods Ended September 30, 2013: |  | Three Months |  |  | Nine Months |
Revenues |  | $ | 212,164 |  |  | $ | 508,589 |
Net income |  | $ | 8,230 |  |  | $ | 81,362 |
Schedule of pro forma results of operations |
For the Periods Ended September 30: |  | Three Months |  |  | Nine Months |
|  | 2012 |  |  | 2013 |  |  | 2012 |
Revenues |  | $ | 374,751 |  |  | $ | 1,530,055 |  |  | $ | 1,027,102 |
Net income |  | $ | 2,696 |  |  | $ | 205,062 |  |  | $ | 21,921
Homeward Acquisitions |
Schedule of pro forma results of operations |
For the Periods Ended September 30, 2012: |  | Three Months |  |  | Nine Months |
Revenues |  | $ | 346,037 |  |  | $ | 949,587 |
Net income |  | $ | 57,013 |  |  | $ | 133,821 |

X
- Definition Tabular disclosure presenting the revenues and results of operations of acquiree since the date of acquisition through a period end. + References No definition available. + Details
Name: | ocn_BusinessAcquisitionOperatingResultsSinceAcquisitionDateTableTextBlock
Namespace Prefix: | ocn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration