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Quarterly Results of Operations (Unaudited)
 12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Results of Operations (Unaudited)
Note 28 — Quarterly Results of Operations (Unaudited)
 
Quarters Ended
 
December 31,
2015
 
September 30,
2015
 
June 30,
2015
 
March 31,
2015
Revenue
$
362,457

 
$
404,946

 
$
463,251

 
$
510,444

Expenses
359,848

 
387,726

 
352,252

 
378,358

Other income (expense), net
(131,881
)
 
(73,138
)
 
(98,499
)
 
(89,257
)
Income (loss) before income taxes
(129,272
)
 
(55,918
)
 
12,500

 
42,829

Income tax expense (benefit)
94,985

 
10,832

 
2,594

 
8,440

Net income (loss)
(224,257
)
 
(66,750
)
 
9,906

 
34,389

Net income attributable to non-controlling interests
16

 
(119
)
 
(168
)
 
(34
)
Net income (loss) attributable to Ocwen common stockholders
$
(224,241
)
 
$
(66,869
)
 
$
9,738

 
$
34,355

 
 
 
 
 
 
 
 
Earnings (loss) per share attributable to Ocwen common stockholders
 
 
 
 
 
 
 
Basic
$
(1.79
)
 
$
(0.53
)
 
$
0.08

 
$
0.27

Diluted
$
(1.79
)
 
$
(0.53
)
 
$
0.08

 
$
0.27

(1)
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.
 
Quarters Ended
 
December 31,
2014
 
September 30,
2014
 
June 30,
2014
 
March 31,
2014
Revenue
$
493,292

 
$
513,698

 
$
553,074

 
$
551,261

Expenses (1) (2)
885,512

 
455,039

 
345,463

 
349,194

Other income (expense), net
(127,553
)
 
(130,925
)
 
(130,434
)
 
(130,364
)
Income (loss) before income taxes
(519,773
)
 
(72,266
)
 
77,177

 
71,703

Income tax expense
2,022

 
2,992

 
10,165

 
11,217

Net income (loss)
(521,795
)
 
(75,258
)
 
67,012

 
60,486

Net (income) loss attributable to non-controlling interests
(80
)
 
(123
)
 
(57
)
 
15

Preferred stock dividends
—

 
—

 
(582
)
 
(581
)
Deemed dividend related to beneficial conversion feature of preferred stock
—

 
(808
)
 
(415
)
 
(416
)
Net income (loss) attributable to Ocwen common stockholders
$
(521,875
)
 
$
(76,189
)
 
$
65,958

 
$
59,504

 
 
 
 
 
 
 
 
Earnings (loss) per share attributable to Ocwen common stockholders
 
 
 
 
 
 
 
Basic
$
(4.16
)
 
$
(0.58
)
 
$
0.49

 
$
0.44

Diluted
$
(4.16
)
 
$
(0.58
)
 
$
0.48

 
$
0.43

(1)
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.
(2)
Operating expenses for the fourth quarter of 2014 include the recognition of a goodwill impairment loss of $420.2 million.