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Other Assets - Schedule of Other Assets (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Jan. 31, 2014
Dec. 31, 2013
Other Assets [Abstract]      
Contingent loan repurchase asset $ 274,265ocn_LoanRepurchaseAsset [1]   $ 0ocn_LoanRepurchaseAsset [1]
Debt service accounts 91,974ocn_DebtServiceAccounts [2]   129,897ocn_DebtServiceAccounts [2]
Prepaid lender fees and debt issuance costs, net 31,337us-gaap_DeferredFinanceCostsNet [3]   31,481us-gaap_DeferredFinanceCostsNet [3]
Prepaid expenses 17,957us-gaap_PrepaidExpenseCurrentAndNoncurrent   16,132us-gaap_PrepaidExpenseCurrentAndNoncurrent
Real estate 16,720us-gaap_OtherRealEstate   9,667us-gaap_OtherRealEstate
Prepaid income taxes 16,450us-gaap_PrepaidTaxes [4]   20,585us-gaap_PrepaidTaxes [4]
Mortgage-backed securities, at fair value 7,335us-gaap_MortgageBackedSecuritiesHeldToMaturityFairValueDisclosure [5]   0us-gaap_MortgageBackedSecuritiesHeldToMaturityFairValueDisclosure [5]
Derivatives, at fair value 6,065us-gaap_DerivativeFairValueOfDerivativeNet   15,494us-gaap_DerivativeFairValueOfDerivativeNet
Contingent assets - ResCap Acquisition 0us-gaap_BusinessCombinationContingentConsiderationAsset [6]   51,932us-gaap_BusinessCombinationContingentConsiderationAsset [6]
Investment in unconsolidated entities 0us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures [5]   11,771us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures [5]
Purchase price deposit 0ocn_BusinessAcquisitionDeposits [7] 15,000ocn_BusinessAcquisitionDeposits 10,000ocn_BusinessAcquisitionDeposits [7]
Other 28,708us-gaap_PrepaidExpenseAndOtherAssets   12,184us-gaap_PrepaidExpenseAndOtherAssets
Other assets $ 490,811us-gaap_OtherAssets   $ 309,143us-gaap_OtherAssets
[1] In connection with the Ginnie Mae EBO Transactions, our agreements provide either that: (a) we have the right, but not the obligation, to repurchase previously transferred mortgage loans under certain conditions, including the mortgage loans becoming eligible for pooling under a program sponsored by Ginnie Mae; or (b) we have the obligation to repurchase previously transferred mortgage loans that have been subject to a successful trial modification before any permanent modification is made. Once these conditions are met, we have effectively regained control over the mortgage loan(s), and under GAAP, must re-recognize the loans on our consolidated balance sheets and establish a corresponding repurchase liability. With respect to those loans that we have the right, but not the obligation, to repurchase under the applicable agreement, this requirement applies regardless of whether we have any intention to repurchase the loan. We re-recognized mortgage loans in Other assets and a corresponding liability in Other liabilities.
[2] Under our advance funding facilities, we are contractually required to remit collections on pledged advances to the trustee within two days of receipt. The collected funds are not applied to reduce the related match funded debt until the payment dates specified in the indenture. The balances also include amounts that have been set aside from the proceeds of our match funded advance facilities and certain of our warehouse facilities to provide for possible shortfalls in the funds available to pay certain expenses and interest. The funds related to match funded facilities are held in interest earning accounts in the name of the SPE created in connection with the facility.
[3] We amortize these costs to the earlier of the scheduled amortization date, contractual maturity date or prepayment date of the debt.
[4] During 2012, 2013 and 2014, we completed intra-entity transfers of certain MSRs. The deferred tax effects of these transactions have been recognized as prepaid income tax assets and are being amortized to Income tax expense over a 7-year period.
[5] The balance at December 31, 2013 includes an investment of $5.1 million in OSI and an investment of $6.6 million in PowerLink Settlement Services, LP and related entities. We increased our ownership in OSI from 26.00% to 87.35% on January 31, 2014. Effective on that date, we began including the accounts of OSI in our consolidated financial statements and eliminated our current investment in consolidation. Assets acquired from OSI included residential mortgage-backed securities. In June 2014, we received proceeds from the dissolution of PowerLink Settlement Services, LP equal to our investment.
[6] The purchase of certain MSRs and related advances from ResCap was not complete on the date of acquisition pending the receipt of certain consents and court approvals. We recorded a contingent asset effective on the date of the acquisition until we subsequently obtained the required consents and approvals for the MSRs and paid the additional purchase price.
[7] The balance at December 31, 2013 represents an initial cash deposit that we made in connection with the agreement we entered into to acquire MSRs and related advances from Wells Fargo Bank, N.A. This deposit along with an additional deposit of $15.0 million that we made in January 2014 were returned to us following a mutual termination of the agreement on November 13, 2014.