XML 31 R46.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Loans Held for Sale (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Receivables [Abstract] |
Summary of Activity in the Balance of Loans Held for Sale, at Fair Value | The following table summarizes the activity in the balance of Loans held for sale, at fair value, during the years ended December 31:
| 2014 |  | 2013 |  | 2012
Beginning balance | $ | 503,753 |  |  | $ | 426,480 |  |  | $ | — |
Originations and purchases (1) | 4,967,767 |  |  | 8,106,742 |  |  | 670,147 |
Proceeds from sales | (5,015,235 | ) |  | (7,999,235 | ) |  | (241,960 | )
Transfers to loans held for investment - reverse mortgages | (110,874 | ) |  | — |  |  | — |
Gain (loss) on sale of loans | 49,533 |  |  | (26,981 | ) |  | 3,889 |
Other | 6,176 |  |  | (3,253 | ) |  | (5,596 | )
Ending balance | $ | 401,120 |  |  | $ | 503,753 |  |  | $ | 426,480 |
(1) | Purchases include $60.0 million of reverse mortgages acquired in the Liberty Acquisition in 2013 and $558.7 million of forward mortgages acquired in the Homeward Acquisition in 2012.
Summary of Activity in the Balance of Loans Held for Sale, at Lower of Cost or Fair Value | The following table summarizes the activity in the balance of Loans held for sale, at lower of cost or fair value, during the years ended December 31:
| 2014 |  | 2013 |  | 2012
Beginning balance | $ | 62,907 |  |  | $ | 82,866 |  |  | $ | 20,633 |
Purchases | 2,462,573 |  |  | 1,632,390 |  |  | 65,756 |
Proceeds from sales | (2,067,965 | ) |  | (1,036,316 | ) |  | — |
Principal payments | (262,196 | ) |  | (432,423 | ) |  | (1,474 | )
Transfers to accounts receivable | (114,675 | ) |  | (218,629 | ) |  | — |
Transfers to real estate owned | (8,808 | ) |  | (4,775 | ) |  | (999 | )
Gain on sale of loans | 31,853 |  |  | 35,087 |  |  | — |
Decrease (increase) in valuation allowance | (18,965 | ) |  | (10,644 | ) |  | 568 |
Other | 2,768 |  |  | 15,351 |  |  | (1,618 | )
Ending balance (1) (2) (3) | $ | 87,492 |  |  | $ | 62,907 |  |  | $ | 82,866 |
(1) | The balances at December 31, 2014 and 2013 includes $42.0 million and $43.1 million, respectively, of loans that we were required to repurchase from Ginnie Mae guaranteed securitizations as part of our contractual obligations as the servicer of the loans. Repurchased loans are modified or otherwise remediated through loss mitigation activities or are reclassified to receivables.
(2) | The balances at December 31, 2014, 2013 and 2012 are net of valuation allowances of $49.7 million, $30.7 million and $14.7 million, respectively. The change in the valuation allowance for the years ended December 31, 2014 and 2013 includes adjustments of $20.4 million and $15.7 million, respectively, from the liability for indemnification obligations for the initial valuation adjustment that we recognized on certain loans that we repurchased from Fannie Mae and Freddie Mac guaranteed securitizations.
(3) | The balance at December 31, 2012 includes non-performing mortgage loans with a carrying value of $65.4 million that we acquired in December 2012 and sold to Altisource Residential, LP in February 2013 for an insignificant gain.
Summary of Activity in Gain on Loans Held for Sale, Net | The following table summarizes the activity in Gain on loans held for sale, net, during the years ended December 31:
| 2014 |  | 2013 |  | 2012
Gain on sales of loans | $ | 168,449 |  |  | $ | 82,518 |  |  | $ | 6,797 |
Change in fair value of IRLCs | (25,822 | ) |  | 523 |  |  | 2 |
Change in fair value of loans held for sale | 10,489 |  |  | (1,709 | ) |  | (5,462 | )
Gain (loss) on economic hedge instruments | (17,214 | ) |  | 42,732 |  |  | (1,075 | )
Other | (1,605 | ) |  | (2,370 | ) |  | (47 | )
| $ | 134,297 |  |  | $ | 121,694 |  |  | $ | 215 |

X
- Definition Gain On Loans Held For Sale [Table Text Block] + References No definition available. + Details
Name: | ocn_GainOnLoansHeldForSaleTableTextBlock
Namespace Prefix: | ocn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Loans Held For Sale Carried At Fair Value [Table Text Block] + References No definition available. + Details
Name: | ocn_LoansHeldForSaleCarriedAtFairValueTableTextBlock
Namespace Prefix: | ocn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Loans Held For Sale At Lower Cost Or Fair Value, Activity [Table Text Block] + References No definition available. + Details
Name: | ocn_ScheduleofLoansHeldForSaleAtLowerCostOrFairValueActivityTableTextBlock
Namespace Prefix: | ocn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration