XML 30 R81.htm IDEA: XBRL DOCUMENT v2.4.1.9
Borrowings - Schedule of Match Funded Liabilities (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Debt Instrument [Line Items]    
Match funded liabilities $ 2,000,676us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount $ 2,090,247us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
Weighted average interest rate 1.99%us-gaap_DebtInstrumentInterestRateEffectivePercentage 1.97%us-gaap_DebtInstrumentInterestRateEffectivePercentage
Advance Receivable Backed Notes Series 2012-ADV1 [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity 51,658us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
/ us-gaap_DebtInstrumentAxis
= ocn_AdvanceReceivableBackedNotesSeriesOneMember
[1],[2]  
Match funded liabilities 348,342us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_AdvanceReceivableBackedNotesSeriesOneMember
[2] 373,080us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_AdvanceReceivableBackedNotesSeriesOneMember
[2]
Maturity date Jun. 30, 2017 [2],[3]  
Amortization date Jun. 2015 [2],[3]  
Advance Receivable Backed Note [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity 0us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
/ us-gaap_DebtInstrumentAxis
= ocn_AdvanceReceivableBackedNoteMember
[1],[4]  
Match funded liabilities 0us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_AdvanceReceivableBackedNoteMember
[4] 494us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_AdvanceReceivableBackedNoteMember
[4]
Maturity date Dec. 31, 2015 [3],[4]  
Amortization date Dec. 2014 [3],[4]  
Advance Receivables Backed Notes, Series 2013-VF2, Class A [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity 68,214us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA2VariableFundingNoteMember
[1]  
Match funded liabilities 495,786us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA2VariableFundingNoteMember
519,634us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA2VariableFundingNoteMember
Maturity date Oct. 31, 2045 [3]  
Amortization date Oct. 2015 [3]  
Advance Receivables Backed Notes, Series 2013-VF2, Class B [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity 4,584us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassB2VariableFundingNoteMember
[1]  
Match funded liabilities 31,416us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassB2VariableFundingNoteMember
32,919us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassB2VariableFundingNoteMember
Maturity date Oct. 31, 2045 [3]  
Amortization date Oct. 2015 [3]  
Advance Receivables Backed Notes - Series 2014-VF3, Class A [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity 72,799us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA3VariableFundingNoteMember
[1]  
Match funded liabilities 527,201us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA3VariableFundingNoteMember
552,553us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA3VariableFundingNoteMember
Maturity date Oct. 31, 2045 [3]  
Amortization date Oct. 2015 [3]  
Advance Receivables Backed Notes - Series 2014-VF4 [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity 72,799us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA4VariableFundingNoteMember
[1]  
Match funded liabilities 527,201us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA4VariableFundingNoteMember
552,553us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA4VariableFundingNoteMember
Maturity date Oct. 31, 2045 [3]  
Amortization date Oct. 2015 [3]  
Advance Receivables Backed Notes, Series 2014-VF1, Class A [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity 54,270us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA1VariableFundingNoteMember
[1],[5]  
Match funded liabilities 25,673us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA1VariableFundingNoteMember
[5] 21,192us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA1VariableFundingNoteMember
[5]
Maturity date Dec. 31, 2045 [3],[5]  
Amortization date Dec. 2015 [3],[5]  
Advance Receivables Backed Notes, Series 2014-VF1, Class B [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity 0us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassB1VariableFundingNoteMember
[1],[5]  
Match funded liabilities 16,289us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassB1VariableFundingNoteMember
[5] 13,598us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassB1VariableFundingNoteMember
[5]
Maturity date Dec. 31, 2045 [3],[5]  
Amortization date Dec. 2015 [3],[5]  
Advance Receivables Backed Notes, Series 2014-VF1, Class C [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity 0us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassC1VariableFundingNoteMember
[1],[5]  
Match funded liabilities 12,220us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassC1VariableFundingNoteMember
[5] 10,224us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassC1VariableFundingNoteMember
[5]
Maturity date Dec. 31, 2045 [3],[5]  
Amortization date Dec. 2015 [3],[5]  
Advance Receivables Backed Notes, Series 2014-VF1, Class D [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity 0us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassD1VariableFundingNoteMember
[1],[5]  
Match funded liabilities 16,548us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassD1VariableFundingNoteMember
[5] 14,000us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_ClassD1VariableFundingNoteMember
[5]
Maturity date Dec. 31, 2045 [3],[5]  
Amortization date Dec. 2015 [3],[5]  
Match Funded Liabilties [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity 324,324us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
/ us-gaap_DebtInstrumentAxis
= ocn_MatchFundedLiabiltiesMember
 
Match funded liabilities $ 2,000,676us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_MatchFundedLiabiltiesMember
$ 2,090,247us-gaap_TransfersAccountedForAsSecuredBorrowingsAssociatedLiabilitiesCarryingAmount
/ us-gaap_DebtInstrumentAxis
= ocn_MatchFundedLiabiltiesMember
London Interbank Offered Rate (LIBOR) [Member] | Advance Receivable Backed Notes Series 2012-ADV1 [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate 1.75%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_DebtInstrumentAxis
= ocn_AdvanceReceivableBackedNotesSeriesOneMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
[2]  
London Interbank Offered Rate (LIBOR) [Member] | Advance Receivable Backed Note [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate 3.00%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_DebtInstrumentAxis
= ocn_AdvanceReceivableBackedNoteMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
[4]  
London Interbank Offered Rate (LIBOR) [Member] | Advance Receivables Backed Notes, Series 2013-VF2, Class A [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate 1.67%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA2VariableFundingNoteMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
[6]  
London Interbank Offered Rate (LIBOR) [Member] | Advance Receivables Backed Notes, Series 2013-VF2, Class B [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate 3.00%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_DebtInstrumentAxis
= ocn_ClassB2VariableFundingNoteMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
[7]  
London Interbank Offered Rate (LIBOR) [Member] | Advance Receivables Backed Notes - Series 2014-VF3, Class A [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate 1.75%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA3VariableFundingNoteMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
[8]  
London Interbank Offered Rate (LIBOR) [Member] | Advance Receivables Backed Notes - Series 2014-VF4 [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate 1.75%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA4VariableFundingNoteMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
[9]  
London Interbank Offered Rate (LIBOR) [Member] | Advance Receivables Backed Notes, Series 2014-VF1, Class A [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate 2.75%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_DebtInstrumentAxis
= ocn_ClassA1VariableFundingNoteMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
[5]  
London Interbank Offered Rate (LIBOR) [Member] | Advance Receivables Backed Notes, Series 2014-VF1, Class B [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate 3.25%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_DebtInstrumentAxis
= ocn_ClassB1VariableFundingNoteMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
[5]  
London Interbank Offered Rate (LIBOR) [Member] | Advance Receivables Backed Notes, Series 2014-VF1, Class C [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate 3.75%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_DebtInstrumentAxis
= ocn_ClassC1VariableFundingNoteMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
[5]  
London Interbank Offered Rate (LIBOR) [Member] | Advance Receivables Backed Notes, Series 2014-VF1, Class D [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate 4.70%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_DebtInstrumentAxis
= ocn_ClassD1VariableFundingNoteMember
/ us-gaap_VariableRateAxis
= us-gaap_LondonInterbankOfferedRateLIBORMember
[5]  
[1] Borrowing capacity is available to us provided that we have additional eligible collateral to pledge. Collateral may only be pledged to one facility. At March 31, 2015, none of the available borrowing capacity could be used based on the amount of eligible collateral that had been pledged
[2] 1-Month LIBOR (1ML) was 0.18% and 0.17% at March 31, 2015 and December 31, 2014, respectively.
[3] The amortization date of our advance financing facilities is the date on which the revolving period ends under each advance financing facility note and repayment of the outstanding balance must begin if the note is not renewed or extended. The maturity date is the date on which all outstanding balances must be repaid. In two advance facilities, there are multiple notes outstanding. For each note, after the amortization date, all collections that represent the repayment of advances pledged to the facility must be applied to reduce the balance of the note outstanding, and any new advances are ineligible to be financed.
[4] We voluntarily terminated this facility on January 15, 2015.
[5] Beginning April 23, 2015, the maximum borrowing under this facility will decrease by $6.3 million per month until it is reduced to $75.0 million.
[6] The interest margin on this note is scheduled to increase to 191 bps on July 15, 2015, to 215 bps on August 15, 2015 and to 239 bps on September 15, 2015.
[7] The interest margin on this note is scheduled to increase to 343 bps on July 15, 2015, to 386 bps on August 15, 2015 and to 429 bps on September 15, 2015.
[8] The interest margin on this note is scheduled to increase to 200 bps on July 15, 2015, to 225 bps on August 15, 2015 and to 250 bps on September 15, 2015.
[9] The interest margin on this note is scheduled to increase to 200 bps on July 15, 2015, to 212 bps on August 15, 2015 and to 250 bps on September 15, 2015.