XML 70 R35.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Business Acquisitions (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2014
Business Acquisition [Line Items] |
Schedule of Purchase Price Allocation | The following table summarizes the fair values of assets acquired and liabilities assumed as part of the ResCap Acquisition:
Purchase Price Allocation | February 15, 2013 |  | Adjustments |  | Final
MSRs (1) | $ | 393,891 |  |  | $ | 7,423 |  |  | $ | 401,314 |
Advances and match funded advances (1) | 1,622,348 |  |  | 164,061 |  |  | 1,786,409 |
Deferred tax assets | — |  |  | — |  |  | — |
Premises and equipment | 22,398 |  |  | (5,975 | ) |  | 16,423 |
Receivables and other assets | 2,989 |  |  | — |  |  | 2,989 |
Other liabilities: |  |  |  |  |  |  |  |
Liability for indemnification obligations | (49,500 | ) |  | — |  |  | (49,500 | )
Other | (24,840 | ) |  | (285 | ) |  | (25,125 | )
Total identifiable net assets | 1,967,286 |  |  | 165,224 |  |  | 2,132,510 |
Goodwill | 204,743 |  |  | 6,676 |  |  | 211,419 |
Total consideration | $ | 2,172,029 |  |  | $ | 171,900 |  |  | $ | 2,343,929 |
(1) | As of the acquisition date, the purchase of certain MSRs from ResCap was not complete pending the receipt of certain consents and court approvals. Subsequent to the acquisition, we obtained the required consents and approvals for a portion of these MSRs and paid an additional purchase price of $174.6 million to acquire the MSRs and related advances, including $54.2 million in 2014. The purchase price allocation has been revised to include the resulting adjustments to MSRs, advances and goodwill.
Schedule of Restructuring Reserve Liability | The following table provides a reconciliation of the beginning and ending liability balances for these termination costs:
| Employee termination benefits |  | Lease termination costs |  | Total
Liability balance as at December 31, 2013 | $ | 4,816 |  |  | $ | 2,454 |  |  | $ | 7,270 |
Additions charged to operations (1) | 10,584 |  |  | — |  |  | 10,584 |
Amortization of discount | — |  |  | 42 |  |  | 42 |
Payments | (10,370 | ) |  | (341 | ) |  | (10,711 | )
Liability balance as at March 31, 2014 (2) | $ | 5,030 |  |  | $ | 2,155 |  |  | $ | 7,185 |
(1) | $9.5 million was recognized in the Servicing segment, $(0.1) million was recognized in the Lending segment and the remaining $1.2 million was recognized in the Corporate Items and Other segment. Charges related to employee termination benefits are reported in Compensation and benefits expense in the unaudited Consolidated Statement of Operations. The liabilities are included in Other liabilities in the unaudited Consolidated Balance Sheet.
(2) | We expect the remaining liability for employee termination benefits at March 31, 2014 to be settled in 2014.
ResCap [Member] |
Business Acquisition [Line Items] |
Post-Acquisition Results of Operations | The following table presents the revenue and earnings of the ResCap operations that are included in our unaudited Consolidated Statement of Operations from the acquisition date of February 15, 2013 through March 31, 2013:
Revenues |  | $ | 74,853 |
Net income |  | $ | 14,879 |
Pro Forma Results of Operations | The following table presents unaudited supplemental pro forma information for Ocwen for the three months ended March 31, 2013 as if the ResCap Acquisition occurred on January 1, 2012. Pro forma adjustments include:
• | conforming servicing revenues to the revenue recognition policies followed by Ocwen;
• | conforming the accounting for MSRs to the valuation and amortization policies of Ocwen;
• | adjusting interest expense to eliminate the pre-acquisition interest expense of ResCap and to recognize interest expense as if the acquisition-related debt of Ocwen had been outstanding at January 1, 2012; and
• | reporting acquisition-related charges for professional services as if they had been incurred in 2012 rather than 2013.
Revenues | $ | 454,003 |
Net income | $ | 36,303 |

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
- Details
Name: | us-gaap_BusinessAcquisitionLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
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 a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(b)(2)) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 + Details
Name: | us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration