XML 52 R44.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Interest Expense (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2015
Other Income and Expenses [Abstract] |
Schedule of Components of Interest Expense | The following table presents the components of interest expense for the three and nine months ended September 30:
| Three months |  | Nine Months
| 2015 |  | 2014 |  | 2015 |  | 2014
Financing liabilities (1)(2)(3) | $ | 73,866 |  |  | $ | 88,246 |  |  | $ | 222,067 |  |  | $ | 281,930 |
Other secured borrowings | 19,822 |  |  | 20,790 |  |  | 68,447 |  |  | 62,359 |
Match funded liabilities | 15,425 |  |  | 15,097 |  |  | 45,379 |  |  | 46,762 |
6.625% Senior unsecured notes | 6,741 |  |  | 6,141 |  |  | 19,521 |  |  | 9,466 |
Other | 2,459 |  |  | 2,775 |  |  | 7,192 |  |  | 8,612 |
| $ | 118,313 |  |  | $ | 133,049 |  |  | $ | 362,606 |  |  | $ | 409,129 |
(1) | Includes interest expense related to financing liabilities recorded in connection with the NRZ/HLSS Transactions as indicated in the table below.
| Three months |  | Nine Months
| 2015 |  | 2014 |  | 2015 |  | 2014
Servicing fees collected on behalf of NRZ | $ | 175,994 |  |  | $ | 177,113 |  |  | $ | 531,399 |  |  | $ | 553,423 |
Less: Subservicing fee retained by Ocwen | 91,597 |  |  | 83,550 |  |  | 272,802 |  |  | 266,514 |
Net servicing fees remitted to NRZ | 84,397 |  |  | 93,563 |  |  | 258,597 |  |  | 286,909 |
Less: Reduction in financing liability | 21,160 |  |  | 8,736 |  |  | 52,159 |  |  | 12,960 |
Interest expense on NRZ financing liability | $ | 63,237 |  |  | $ | 84,827 |  |  | $ | 206,438 |  |  | $ | 273,949 |
(2) | Includes $8.2 million and $8.5 million for the three and nine months ended September 30, 2015, respectively, of fees incurred in connection with our agreement to compensate NRZ for certain increased costs associated with its servicing advance financing facilities that are the direct result of a downgrade of our S&P servicer rating.
(3) | Interest expense that we expect to be paid on the HMBS-related borrowings is included with net fair value gains in Other revenues.
Schedule of Related Party Interest Expense |
| Three months |  | Nine Months
| 2015 |  | 2014 |  | 2015 |  | 2014
Servicing fees collected on behalf of NRZ | $ | 175,994 |  |  | $ | 177,113 |  |  | $ | 531,399 |  |  | $ | 553,423 |
Less: Subservicing fee retained by Ocwen | 91,597 |  |  | 83,550 |  |  | 272,802 |  |  | 266,514 |
Net servicing fees remitted to NRZ | 84,397 |  |  | 93,563 |  |  | 258,597 |  |  | 286,909 |
Less: Reduction in financing liability | 21,160 |  |  | 8,736 |  |  | 52,159 |  |  | 12,960 |
Interest expense on NRZ financing liability | $ | 63,237 |  |  | $ | 84,827 |  |  | $ | 206,438 |  |  | $ | 273,949 |

X
- Definition Tabular disclosure of interest expense by the components of the Company's interest-bearing liabilities. + References No definition available. + Details
Name: | ocn_ScheduleOfInterestExpenseByLiabilityTableTextBlock
Namespace Prefix: | ocn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Related Party Interest Expense [Table Text Block] + References No definition available. + Details
Name: | ocn_ScheduleofRelatedPartyInterestExpenseTableTextBlock
Namespace Prefix: | ocn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OtherIncomeAndExpensesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration