XML 25 R89.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Borrowings - Schedule of Other Secured Borrowings (Details) - USD ($) $ in Thousands | 9 Months Ended |
--- | --- | ---
Sep. 30, 2015 | Dec. 31, 2014
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | $ 176,900 |
Other secured borrowings |  | 2,953,518 | $ 2,258,641
Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 92,489 |
Discount - SSTL |  | (3,009) | (4,031)
Long-term Debt |  | $ 1,001,070 | $ 1,733,691
Weighted average interest rate |  | 4.42% | 4.33%
Servicing [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | $ 23,871 |
Other secured borrowings |  | 732,056 | $ 1,309,268
Lending [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 68,618 |
Other secured borrowings |  | 272,023 | 428,454
Senior Secured Term Loan [Member] | Servicing [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 0 |
Other secured borrowings |  | $ 705,927 | 1,277,250
Maturity date | [1] | Feb. 28, 2018 |
Master Repurchase Agreement [Member] | Servicing [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity | [2] | $ 23,871 |
Other secured borrowings | [2] | $ 26,129 | 32,018
Maturity date | [2] | Jul. 31, 2016 |
Participation Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity | [3] | $ 0 |
Other secured borrowings | [3] | $ 46,597 | 41,646
Maturity date | [3] | Apr. 30, 2016 |
Participation Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity | [4] | $ 0 |
Other secured borrowings | [4] | $ 33,864 | 196
Maturity date | [4] | Apr. 30, 2016 |
Master Repurchase Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity | [5] | $ 68,618 |
Other secured borrowings | [5] | $ 131,382 | 208,010
Maturity date | [5] | Aug. 31, 2016 |
Master Repurchase Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity | [6] | $ 0 |
Other secured borrowings | [6] | $ 0 | 102,073
Maturity date | [6] | Jul. 31, 2015 |
Master Repurchase Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity | [7] | $ 0 |
Other secured borrowings | [7] | $ 0 | 52,678
Maturity date | [7] | Jul. 31, 2015 |
Mortgage Warehouse Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity | [8] | $ 0 |
Other secured borrowings | [8] | $ 60,180 | 23,851
Maturity date | [8] | May 31, 2016 |
Interest rate at index floor rate | [8] | 3.50% |
Total Servicing Lines Of Credit [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | $ 92,489 |
Other secured borrowings |  | $ 1,004,079 | $ 1,737,722
London Interbank Offered Rate (LIBOR) [Member] | Master Repurchase Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate | [5] | 2.00% |
London Interbank Offered Rate (LIBOR) [Member] | Master Repurchase Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate | [7] | 2.75% |
London Interbank Offered Rate (LIBOR) [Member] | Mortgage Warehouse Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate | [8] | 2.75% |
Eurodollar [Member] | Senior Secured Term Loan [Member] | Servicing [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate | [1] | 3.75% |
Interest rate at index floor rate | [1] | 1.25% |
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Master Repurchase Agreement [Member] | Servicing [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate | [2] | 2.00% |
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Master Repurchase Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate | [6] | 1.75% |
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Master Repurchase Agreement [Member] | Servicing [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate | [2] | 3.45% |
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Master Repurchase Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member] |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate | [6] | 2.75% |
[1] | The borrowings are secured by a first priority security interest in substantially all of the assets of Ocwen. Borrowings bear interest, at the election of Ocwen, at a rate per annum equal to either (a) the base rate (the greatest of (i) the prime rate in effect on such day, (ii) the federal funds rate in effect on such day plus 0.50% and (iii) the one-month Eurodollar rate (1-Month LIBOR)), plus a margin of 2.75% and subject to a base rate floor of 2.25% or (b) the one month Eurodollar rate, plus a margin of 3.75% and subject to a one month Eurodollar floor of 1.25%. To date we have elected option (b) to determine the interest rate.On October 16, 2015, we entered into an amendment to the SSTL facility agreement pursuant to which, among other things, the Eurodollar margin was increased from 3.75% to 4.25%, effective October 20, 2015. See Note 21 – Subsequent Events for additional information.
[2] | On September 30, 2015, this repurchase agreement was renewed through September 29, 2016. Under this repurchase agreement, the lender provides financing on a committed basis for $50.0 million and, at the discretion of the lender, on an uncommitted basis for an additional $50.0 million.
[3] | Under this participation agreement, the lender provides financing for $100.0 million at the discretion of the lender. The participation agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing. The lender earns the stated interest rate of the underlying mortgage loans while the loans are financed under the participation agreement.
[4] | Under this participation agreement, the lender provides financing for $150.0 million at the discretion of the lender. The participation agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing. The lender earns the stated interest rate of the underlying mortgage loans while the loans are financed under the participation agreement.
[5] | On August 25, 2015, this repurchase agreement was renewed through August 23, 2016. Borrowing capacity was reduced from $300.0 million, of which $150.0 million was provided on an uncommitted basis, to $200.0 million all of which is provided on a committed basis.
[6] | On April 16, 2015, this facility was voluntarily terminated.
[7] | This facility was allowed to expire.
[8] | Borrowing capacity of $100.0 million under this facility is available at the discretion of the lender. This facility was renewed on August 24, 2015, and the borrowing capacity was increased from $60.0 million to $100.0 million.

X
- Definition Represents the index floor rate used for interest rate on the debt instrument. + References No definition available. + Details
Name: | ocn_DebtInstrumentInterestRateAtIndexFloorRate
Namespace Prefix: | ocn_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of long-term debt before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 16 -Article 9 + Details
Name: | us-gaap_DebtInstrumentCarryingAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(2)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 + Details
Name: | us-gaap_DebtInstrumentMaturityDate
Namespace Prefix: | us-gaap_
Data Type: | xbrli:dateItemType
Balance Type: | na
Period Type: | duration

X
- Definition The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400 + Details
Name: | us-gaap_DebtInstrumentUnamortizedDiscount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of unused borrowing capacity under the long-term financing arrangement that is available to the entity as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Subparagraph b -Article 5 + Details
Name: | us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Weighted average interest rate of debt outstanding. + References No definition available. + Details
Name: | us-gaap_DebtWeightedAverageInterestRate
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.16) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03.16) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 16 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 22 -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 16 -Article 7 + Details
Name: | us-gaap_LongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_SecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=ocn_ServicingMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_StatementBusinessSegmentsAxis=ocn_LendingMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=us-gaap_SeniorNotesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MasterRepurchaseAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_ParticipationAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_ParticipationAgreementTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MasterRepurchaseAgreementTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MasterRepurchaseAgreementThreeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MasterRepurchaseAgreementFourMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MortgageWarehouseAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_TotalServicingLinesOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_EurodollarMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |