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Quarterly Results of Operations (Unaudited) - Schedule of Quarterly Results of Operations (Unaudited) (Details) - USD ($)
$ / shares in Units, $ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2015
Sep. 30, 2015
Jun. 30, 2015
Mar. 31, 2015
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]                      
Revenue $ 362,457 $ 404,946 $ 463,251 $ 510,444 $ 493,292 $ 513,698 $ 553,074 $ 551,261 $ 1,741,098 [1] $ 2,111,325 [1] $ 2,038,273 [1]
Expenses 359,848 387,726 352,252 378,358 885,512 [2],[3] 455,039 [2],[3] 345,463 [2],[3] 349,194 [2],[3] 1,478,184 [1],[4] 2,035,208 [1],[4] 1,301,294 [1],[4]
Other income (expense), net (131,881) [5] (73,138) [5] (98,499) [5] (89,257) [5] (127,553) (130,925) (130,434) (130,364) (392,775) (519,276) (384,500)
Income (loss) before income taxes (129,272) (55,918) 12,500 42,829 (519,773) (72,266) 77,177 71,703 (129,861) (443,159) 352,479
Income tax expense (benefit) 94,985 10,832 2,594 8,440 2,022 2,992 10,165 11,217 116,851 26,396 42,061
Net income (loss) (224,257) (66,750) 9,906 34,389 (521,795) (75,258) 67,012 60,486 (246,712) (469,555) 310,418
Net (income) loss attributable to non-controlling interests 16 (119) (168) (34) (80) (123) (57) 15 (305) (245) 0
Preferred stock dividends         0 0 (582) (581) 0 (1,163) (5,031)
Deemed dividend related to beneficial conversion feature of preferred stock         0 (808) (415) (416) 0 (1,639) (6,989)
Net income (loss) attributable to Ocwen common stockholders $ (224,241) $ (66,869) $ 9,738 $ 34,355 $ (521,875) $ (76,189) $ 65,958 $ 59,504 $ (247,017) [6] $ (472,602) [6] $ 298,398 [6]
Earnings (loss) per share attributable to Ocwen common stockholders                      
Basic (in dollars per share) $ (1.79) $ (0.53) $ 0.08 $ 0.27 $ (4.16) $ (0.58) $ 0.49 $ 0.44 $ (1.97) $ (3.60) $ 2.20
Diluted (in dollars per share) $ (1.79) $ (0.53) $ 0.08 $ 0.27 $ (4.16) $ (0.58) $ 0.48 $ 0.43 $ (1.97) $ (3.60) $ 2.13
[1] Intersegment billings for services rendered to other segments are recorded as revenues, as contra-expense or as other income, depending on the type of service that is rendered.
[2] Operating expenses for the fourth quarter of 2014 include the recognition of a goodwill impairment loss of $420.2 million.
[3] Operating expenses for the third and fourth quarter of 2014 include charges of $100.0 million and $50.0 million, respectively, for losses related to a regulatory settlement with the NY DFS. These charges are included in Professional services on the Consolidated Statement of Operations and were recorded in the Corporate Items and Other segment.
[4] Depreciation and amortization expense are as follows: Servicing Lending Corporate Items and Other Business Segments ConsolidatedFor the year ended December 31, 2015: Depreciation expense$2,990 $380 $15,789 $19,159Amortization of mortgage servicing rights98,849 345 — 99,194Amortization of debt discount2,680 — — 2,680Amortization of debt issuance costs 21,269 — 1,395 22,664 For the year ended December 31, 2014: Depreciation expense$9,955 $332 $11,623 $21,910Amortization of mortgage servicing rights249,471 705 199 250,375Amortization of debt discount1,318 — — 1,318Amortization of debt issuance costs 4,294 — 845 5,139 For the year ended December 31, 2013: Depreciation expense$13,525 $320 $10,400 $24,245Amortization of mortgage servicing rights282,526 255 — 282,781Amortization of debt discount1,412 — — 1,412Amortization of debt issuance costs 4,395 — — 4,395
[5] Other income (expense), net for 2015 includes gains (losses) on the sale of MSRs in the first, second, third and fourth quarter of $26.4 million, $30.3 million, $41.2 million and $(14.0) million, respectively.
[6] For 2015 and 2014, we have excluded the effect of the preferred stock, stock options and common stock awards from the computation of diluted earnings per share because of the anti-dilutive effect of our reported net loss.