Interest Expense (Tables)

3 Months Ended

Mar. 31, 2016

Other Income and Expenses [Abstract]

Schedule of Components of Interest Expense

The following table presents the components of interest expense for the three months ended March 31:



	2016		2015
Financing liabilities (1) (2)	$	67,707	$	73,824
Match funded liabilities	18,174		14,280
Other secured borrowings	12,713		22,916
6.625% Senior unsecured notes	6,208		6,129
Other	1,287		2,247
	$	106,089	$	119,396


(1)	Includes interest expense related to financing liabilities recorded in connection with the NRZ/HLSS Transactions as indicated in the table below.



	2016		2015
Servicing fees collected on behalf of NRZ/HLSS	$	162,129	$	180,297
Less: Subservicing fee retained by Ocwen	84,370		91,214
Net servicing fees remitted to NRZ/HLSS	77,759		89,083
Less: Reduction in financing liability	18,201		17,723
Interest expense on NRZ/HLSS financing liability	$	59,558	$	71,360

The reduction in the financing liability does not include reimbursements to NRZ/HLSS for the loss of servicing revenues when we were terminated as servicer and where the related Rights to MSRs had been sold to HLSS.


(2)	Includes $6.2 million of fees incurred during the three months ended March 31, 2016 in connection with our agreement to compensate NRZ/HLSS 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.



	2016		2015
Servicing fees collected on behalf of NRZ/HLSS	$	162,129	$	180,297
Less: Subservicing fee retained by Ocwen	84,370		91,214
Net servicing fees remitted to NRZ/HLSS	77,759		89,083
Less: Reduction in financing liability	18,201		17,723
Interest expense on NRZ/HLSS financing liability	$	59,558	$	71,360