XML 93 R81.htm IDEA: XBRL DOCUMENT v3.4.0.3
Borrowings - Schedule of Match Funded Liabilities (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Dec. 31, 2015
Debt Instrument [Line Items]    
Available borrowing capacity $ 0  
Match funded liabilities $ 1,537,096 $ 1,584,049
Weighted average interest rate 3.17% 3.15%
Match Funded Liabilties [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] $ 212,904  
Match funded liabilities 1,537,096 $ 1,584,049
Total Ocwen Master Advance Receivables Trust (OMART) [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] 176,230  
Match funded liabilities 1,323,770 1,393,156
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF3, Class A [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] 47,741  
Match funded liabilities $ 113,944 132,651
Maturity date [2] Sep. 30, 2046  
Amortization date [2] Sep. 30, 2016  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF3, Class B [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] $ 2,172  
Match funded liabilities $ 5,452 6,330
Maturity date [2] Sep. 30, 2046  
Amortization date [2] Sep. 30, 2016  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF3, Class C [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] $ 2,426  
Match funded liabilities $ 6,009 6,977
Maturity date [2] Sep. 30, 2046  
Amortization date [2] Sep. 30, 2016  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF3, Class D [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] $ 6,404  
Match funded liabilities $ 15,852 18,427
Maturity date [2] Sep. 30, 2046  
Amortization date [2] Sep. 30, 2016  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF4, Class A [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] $ 47,741  
Match funded liabilities $ 113,944 132,651
Maturity date [2] Sep. 30, 2046  
Amortization date [2] Sep. 30, 2016  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF4, Class B [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] $ 2,172  
Match funded liabilities $ 5,452 6,330
Maturity date [2] Sep. 30, 2046  
Amortization date [2] Sep. 30, 2016  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF4, Class C [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] $ 2,426  
Match funded liabilities $ 6,009 6,977
Maturity date [2] Sep. 30, 2046  
Amortization date [2] Sep. 30, 2016  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF4, Class D [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] $ 6,404  
Match funded liabilities $ 15,852 18,427
Maturity date [2] Sep. 30, 2046  
Amortization date [2] Sep. 30, 2016  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-VF5, Class A [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] $ 47,742  
Match funded liabilities $ 113,943 132,652
Maturity date [2] Sep. 30, 2046  
Amortization date [2] Sep. 30, 2016  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-VF5, Class B [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] $ 2,172  
Match funded liabilities $ 5,452 6,330
Maturity date [2] Sep. 30, 2046  
Amortization date [2] Sep. 30, 2016  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-VF5, Class C [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] $ 2,426  
Match funded liabilities $ 6,009 6,977
Maturity date [2] Sep. 30, 2046  
Amortization date [2] Sep. 30, 2016  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-VF5, Class D [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1] $ 6,404  
Match funded liabilities $ 15,852 18,427
Maturity date [2] Sep. 30, 2046  
Amortization date [2] Sep. 30, 2016  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes, Series 2015-T1,Class A [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[3] $ 0  
Match funded liabilities [3] $ 244,809 244,809
Maturity date [2],[3] Sep. 30, 2046  
Amortization date [2],[3] Sep. 30, 2016  
Basis spread on variable rate [3] 2.5365%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes, Series 2015-T1,Class B [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[3] $ 0  
Match funded liabilities [3] $ 10,930 10,930
Maturity date [2],[3] Sep. 30, 2046  
Amortization date [2],[3] Sep. 30, 2016  
Basis spread on variable rate [3] 3.0307%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes, Series 2015-T1,Class C [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[3] $ 0  
Match funded liabilities [3] $ 12,011 12,011
Maturity date [2],[3] Sep. 30, 2046  
Amortization date [2],[3] Sep. 30, 2016  
Basis spread on variable rate [3] 3.524%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes, Series 2015-T1,Class D [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[3] $ 0  
Match funded liabilities [3] $ 32,250 32,250
Maturity date [2],[3] Sep. 30, 2046  
Amortization date [2],[3] Sep. 30, 2016  
Basis spread on variable rate [3] 4.10%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-T2,Class A [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[3] $ 0  
Match funded liabilities [3] $ 161,973 161,973
Maturity date [2],[3] Nov. 30, 2046  
Amortization date [2],[3] Nov. 30, 2016  
Basis spread on variable rate [3] 2.532%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-T2,Class B [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[3] $ 0  
Match funded liabilities [3] $ 7,098 7,098
Maturity date [2],[3] Nov. 30, 2046  
Amortization date [2],[3] Nov. 30, 2016  
Basis spread on variable rate [3] 3.372%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-T2,Class C [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[3] $ 0  
Match funded liabilities [3] $ 8,113 8,113
Maturity date [2],[3] Nov. 30, 2046  
Amortization date [2],[3] Nov. 30, 2016  
Basis spread on variable rate [3] 3.766%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-T2,Class D [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[3] $ 0  
Match funded liabilities [3] $ 22,816 22,816
Maturity date [2],[3] Nov. 30, 2046  
Amortization date [2],[3] Nov. 30, 2016  
Basis spread on variable rate [3] 4.258%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-T3,Class A [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[3] $ 0  
Match funded liabilities [3] $ 310,195 310,195
Maturity date [2],[3] Nov. 30, 2047  
Amortization date [2],[3] Nov. 30, 2017  
Basis spread on variable rate [3] 3.211%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-T3,Class B [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[3] $ 0  
Match funded liabilities [3] $ 17,695 17,695
Maturity date [2],[3] Nov. 30, 2047  
Amortization date [2],[3] Nov. 30, 2017  
Basis spread on variable rate [3] 3.704%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-T3,Class C [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[3] $ 0  
Match funded liabilities [3] $ 19,262 19,262
Maturity date [2],[3] Nov. 30, 2047  
Amortization date [2],[3] Nov. 30, 2017  
Basis spread on variable rate [3] 4.196%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-T3,Class D [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[3] $ 0  
Match funded liabilities [3] $ 52,848 52,848
Maturity date [2],[3] Nov. 30, 2047  
Amortization date [2],[3] Nov. 30, 2017  
Basis spread on variable rate [3] 4.687%  
Total Ocwen Servicer Advance Receivables Trust III (OSARTIII) [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[4] $ 0  
Match funded liabilities [4] 90,000 51,415
Total Ocwen Servicer Advance Receivables Trust III (OSARTIII) [Member] | Advance Receivables Backed Notes, Series 2014-VF1,Class A [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[4] 0  
Match funded liabilities [4] $ 58,221 31,343
Maturity date [2],[4] Dec. 31, 2046  
Amortization date [2],[4] Dec. 31, 2016  
Basis spread on variable rate [4] 2.70%  
Total Ocwen Servicer Advance Receivables Trust III (OSARTIII) [Member] | Advance Receivables Backed Notes, Series 2014-VF1,Class B [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[4] $ 0  
Match funded liabilities [4] $ 6,044 4,157
Maturity date [2],[4] Dec. 31, 2046  
Amortization date [2],[4] Dec. 31, 2016  
Basis spread on variable rate [4] 4.25%  
Total Ocwen Servicer Advance Receivables Trust III (OSARTIII) [Member] | Advance Receivables Backed Notes, Series 2014-VF1,Class C [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[4] $ 0  
Match funded liabilities [4] $ 6,783 4,564
Maturity date [2],[4] Dec. 31, 2046  
Amortization date [2],[4] Dec. 31, 2016  
Basis spread on variable rate [4] 4.70%  
Total Ocwen Servicer Advance Receivables Trust III (OSARTIII) [Member] | Advance Receivables Backed Notes, Series 2014-VF1,Class D [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[4] $ 0  
Match funded liabilities [4] $ 18,952 11,351
Maturity date [2],[4] Dec. 31, 2046  
Amortization date [2],[4] Dec. 31, 2016  
Basis spread on variable rate [4] 5.20%  
Total Ocwen Freddie Advance Funding Facility (OFAF) [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[5] $ 36,674  
Match funded liabilities [5] 123,326 139,478
Total Ocwen Freddie Advance Funding Facility (OFAF) [Member] | Advance Receivables Backed Notes, Series 2015-VF1,Class A [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[5] 29,242  
Match funded liabilities [5] $ 100,323 112,882
Maturity date [2],[5] Jun. 30, 2046  
Amortization date [2],[5] Jun. 30, 2016  
Total Ocwen Freddie Advance Funding Facility (OFAF) [Member] | Advance Receivables Backed Notes, Series 2015-VF1,Class B [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[5] $ 3,087  
Match funded liabilities [5] $ 10,637 12,268
Maturity date [2],[5] Jun. 30, 2046  
Amortization date [2],[5] Jun. 30, 2016  
Total Ocwen Freddie Advance Funding Facility (OFAF) [Member] | Advance Receivables Backed Notes, Series 2015-VF1,Class C [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[5] $ 1,906  
Match funded liabilities [5] $ 5,134 5,951
Maturity date [2],[5] Jun. 30, 2046  
Amortization date [2],[5] Jun. 30, 2016  
Total Ocwen Freddie Advance Funding Facility (OFAF) [Member] | Advance Receivables Backed Notes, Series 2015-VF1,Class D [Member]    
Debt Instrument [Line Items]    
Available borrowing capacity [1],[5] $ 2,439  
Match funded liabilities [5] $ 7,232 $ 8,377
Maturity date [2],[5] Jun. 30, 2046  
Amortization date [2],[5] Jun. 30, 2016  
London Interbank Offered Rate (LIBOR) [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate 0.75%  
London Interbank Offered Rate (LIBOR) [Member] | Advance Receivables Backed Notes - Series 2014-VF3, Class A [Member]    
Debt Instrument [Line Items]    
Weighted average interest rate 0.44% 0.43%
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF3, Class A [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [6],[7] 2.35%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF3, Class B [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [7] 3.00%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF3, Class C [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [7] 4.25%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF3, Class D [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [7] 5.75%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF4, Class A [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [7] 2.35%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF4, Class B [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [7] 3.00%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF4, Class C [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [7] 4.25%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2014-VF4, Class D [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [7] 5.75%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-VF5, Class A [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [7] 2.35%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-VF5, Class B [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [7] 3.00%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-VF5, Class C [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [7] 4.25%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-VF5, Class D [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [7] 5.75%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Freddie Advance Funding Facility (OFAF) [Member] | Advance Receivables Backed Notes, Series 2015-VF1,Class A [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [5] 2.125%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Freddie Advance Funding Facility (OFAF) [Member] | Advance Receivables Backed Notes, Series 2015-VF1,Class B [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [5] 3.00%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Freddie Advance Funding Facility (OFAF) [Member] | Advance Receivables Backed Notes, Series 2015-VF1,Class C [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [5] 3.50%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Freddie Advance Funding Facility (OFAF) [Member] | Advance Receivables Backed Notes, Series 2015-VF1,Class D [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [5] 4.25%  
[1] Borrowing capacity is available to us provided that we have additional eligible collateral to pledge. Collateral may only be pledged to one facility. At March 31, 2016, none of the available borrowing capacity could be used based on the amount of eligible collateral that had been pledged.
[2] The amortization date of our facilities is the date on which the revolving period ends under each advance facility note and repayment of the outstanding balance must begin if the note is not renewed or extended. The maturity date is the date on which all outstanding balances must be repaid. In all of our advance facilities, there are multiple notes outstanding. For each note, after the amortization date, all collections that represent the repayment of advances pledged to the facility must be applied to reduce the balance of the note outstanding, and any new advances are ineligible to be financed.
[3] Under the terms of the agreement, we must continue to borrow the full amount of the Series 2015-T1, T2 and T3 Notes until the amortization date. If there is insufficient collateral to support the level of borrowing, the excess cash proceeds are not distributed to Ocwen but are held by the trustee, and interest expense continues to be based on the full amount of the term notes.
[4] On March 31, 2016, the maximum borrowing under the OSART III facility was increased to $90.0 million.
[5] On March 31, 2016, the combined borrowing capacity of the Series 2015-VF1 Notes was increased to $160.0 million.
[6] 1-Month LIBOR was 0.44% and 0.43% at March 31, 2016 and December 31, 2015, respectively.
[7] There is a ceiling of 75 bps for 1 ML in determining the interest rate for these variable rate notes.