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Basic and Diluted Earnings per Share - Schedule of Reconciliation of Calculation of Basic Earnings per Share to Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014
Basic earnings per share: |  |  |  |  |
Net income attributable to Ocwen common stockholders |  | $ 9,738 | $ 65,958 | $ 44,093 | $ 125,462
Weighted average shares of common stock (in shares) |  | 125,311,133 | 134,221,668 | 125,291,788 | 134,724,905
Basic earnings per share (in USD per share) |  | $ 0.08 | $ 0.49 | $ 0.35 | $ 0.93
Diluted earnings per share: |  |  |  |  |
Net income attributable to Ocwen common stockholders |  | $ 9,738 | $ 65,958 | $ 44,093 | $ 125,462
Preferred stock dividends | [1] | 0 | 0 | 0 | 0
Adjusted net income attributable to Ocwen |  | $ 9,738 | $ 65,958 | $ 44,093 | $ 125,462
Weighted average shares of common stock (in shares) |  | 125,311,133 | 134,221,668 | 125,291,788 | 134,724,905
Effect of dilutive elements: |  |  |  |  |
Preferred stock (in shares) | [1] | 0 | 0 | 0 | 0
Stock options (in shares) |  | 1,830,496 | 3,479,499 | 1,777,888 | 3,693,916
Common stock awards (in shares) |  | 10,850 | 4,626 | 6,502 | 4,191
Dilutive weighted average shares of common stock (in shares) |  | 127,152,479 | 137,705,793 | 127,076,178 | 138,423,012
Diluted earnings per share (in USD per share) |  | $ 0.08 | $ 0.48 | $ 0.35 | $ 0.91
Stock options and common stock awards excluded from the computation of diluted earnings per share: |  |  |  |  |
Anti-dilutive Securities (in shares) | [2] | 1,846,374 | 50,000 | 1,928,638 | 25,000
Market Based [Member] |  |  |  |  |
Stock options and common stock awards excluded from the computation of diluted earnings per share: |  |  |  |  |
Anti-dilutive Securities (in shares) | [3] | 924,438 | 272,500 | 924,438 | 272,500
[1] | Prior to the conversion of our remaining preferred stock into common stock in July 2014, we computed the effect on diluted earnings per share using the if-converted method. For purposes of computing diluted earnings per share, we assume the conversion of the preferred stock into shares of common stock unless the effect is anti-dilutive. Conversion of the preferred stock was not assumed for the three and six months ended June 30, 2014 because the effect would have been antidilutive.
[2] | These options were anti-dilutive because their exercise price was greater than the average market price of our stock.
[3] | Shares that are issuable upon the achievement of certain performance criteria related to Ocwen’s stock price and an annualized rate of return to investors.

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