XML 43 R76.htm IDEA: XBRL DOCUMENT v2.4.1.9
Business Acquisitions - Schedule of Purchase Price Allocation (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Feb. 15, 2013
Dec. 27, 2012
Business Acquisition [Line Items]          
Liability for indemnification obligations $ (132,918)ocn_IndemnificationObligationsLiability $ (192,716)ocn_IndemnificationObligationsLiability $ (38,140)ocn_IndemnificationObligationsLiability    
Liability for certain foreclosure matters 0ocn_ForeclosureLiability [1] (66,948)ocn_ForeclosureLiability [1]      
Goodwill 0us-gaap_Goodwill 420,201us-gaap_Goodwill      
ResCap [Member]          
Business Acquisition [Line Items]          
Cash       0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Loans held for sale       0ocn_BusinessAcquisitionPurchasePriceAllocationMortgageLoansHeldForSale
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
MSRs       401,314ocn_BusinessAcquisitionPurchasePriceAllocationMortgageServicingRights
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
[2]  
Advances and match funded advances       1,786,409ocn_BusinessAcquisitionPurchasePriceAllocationAdvancesAndMatchFundedAdvances
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
[2]  
Deferred tax assets       0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssetsNoncurrent
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Premises and equipment       16,423us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Debt service accounts       0ocn_BusinessAcquisitionPurchasePriceAllocationAdvancesAndDebtServiceAccount
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Investment in unconsolidated entities       0ocn_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedEntities
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Receivables and other assets       2,989ocn_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsReceivablesAndOtherAssets
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Match funded liabilities       0ocn_BusinessAcquisitionPurchasePriceAllocationMatchFundedLiabilities
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Other borrowings       0us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Liability for indemnification obligations       (49,500)ocn_IndemnificationObligationsLiability
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Liability for certain foreclosure matters       0ocn_ForeclosureLiability
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Accrued bonuses       0ocn_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedBonuses
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Checks held for escheat       0ocn_BusinessAcquisitionChecksHeldForEscheat
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Other       (25,125)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Total identifiable net assets       2,132,510us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Goodwill       211,419us-gaap_Goodwill
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Total consideration       2,343,929us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
/ us-gaap_BusinessAcquisitionAxis
= ocn_ResCapMember
 
Homeward [Member]          
Business Acquisition [Line Items]          
Cash         79,511us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Loans held for sale         558,721ocn_BusinessAcquisitionPurchasePriceAllocationMortgageLoansHeldForSale
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
MSRs         360,344ocn_BusinessAcquisitionPurchasePriceAllocationMortgageServicingRights
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
[2]
Advances and match funded advances         2,266,882ocn_BusinessAcquisitionPurchasePriceAllocationAdvancesAndMatchFundedAdvances
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
[2]
Deferred tax assets         52,103us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxAssetsNoncurrent
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Premises and equipment         12,515us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Debt service accounts         69,287ocn_BusinessAcquisitionPurchasePriceAllocationAdvancesAndDebtServiceAccount
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Investment in unconsolidated entities         5,485ocn_BusinessAcquisitionPurchasePriceAllocationInvestmentInUnconsolidatedEntities
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Receivables and other assets         22,280ocn_BusinessAcquisitionPurchasePriceAllocationCurrentAssetsReceivablesAndOtherAssets
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Match funded liabilities         (1,997,459)ocn_BusinessAcquisitionPurchasePriceAllocationMatchFundedLiabilities
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Other borrowings         (864,969)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Liability for indemnification obligations         (32,498)ocn_IndemnificationObligationsLiability
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Liability for certain foreclosure matters         (13,430)ocn_ForeclosureLiability
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Accrued bonuses         (35,201)ocn_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccruedBonuses
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Checks held for escheat         (16,453)ocn_BusinessAcquisitionChecksHeldForEscheat
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Other         (48,230)us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Total identifiable net assets         418,888us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Goodwill         345,936us-gaap_Goodwill
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
Total consideration         $ 764,824us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
/ us-gaap_BusinessAcquisitionAxis
= ocn_HomewardAcquisitionMember
[1] This liability was settled in May 2014. We recognized $53.5 million of expense in Professional services during 2013 to establish the liability. We recognized the remaining $13.4 million of the liability as an adjustment to the initial purchase price allocation related to the Homeward Acquisition. We applied this measurement period adjustment retrospectively to our Consolidated Balance Sheet at December 31, 2012 with an offsetting increase in goodwill.
[2] 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.