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Borrowings - Schedule of Other Secured Borrowings (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Dec. 31, 2015
Line of Credit Facility [Line Items]    
Available borrowing capacity $ 0  
Other secured borrowings 3,319,646 $ 3,089,255
Unamortized debt issuance costs - SSTL (23,500) (24,500)
Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Available borrowing capacity 134,529  
Unamortized debt issuance costs - SSTL (19,321) (20,012)
Discount - SSTL (1,146) (1,351)
Long-term Debt $ 718,830 $ 762,411
Weighted average interest rate 4.46% 4.38%
Servicing [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Available borrowing capacity $ 15,549  
Other secured borrowings 414,346 $ 441,427
Lending [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Available borrowing capacity 118,980  
Other secured borrowings 324,951 342,347
Senior Secured Term Loan [Member] | Servicing [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Available borrowing capacity [1] 0  
Other secured borrowings [1] $ 379,895 398,454
Maturity date [1] Feb. 28, 2018  
Repurchase Agreements [Member] | Servicing [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Available borrowing capacity [2] $ 15,549  
Other secured borrowings [2] $ 34,451 42,973
Maturity date [2] Sep. 30, 2016  
Master Repurchase Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Available borrowing capacity [3] $ 70,238  
Other secured borrowings [3] $ 129,762 156,226
Maturity date [3] Aug. 31, 2016  
Participation Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Available borrowing capacity [4] $ 0  
Other secured borrowings [4] $ 28,824 49,897
Maturity date [4] Apr. 30, 2016  
Participation Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Available borrowing capacity [5] $ 0  
Other secured borrowings [5] $ 115,107 73,049
Maturity date [5] Apr. 30, 2016  
Mortgage Warehouse Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Available borrowing capacity [6] $ 0  
Other secured borrowings [6] $ 0 63,175
Maturity date [6] May 31, 2016  
Interest rate at index floor rate [6] 3.50%  
Master Repurchase Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Available borrowing capacity [7] $ 48,742  
Other secured borrowings [7] $ 51,258 0
Maturity date [7] Jan. 31, 2017  
Total Servicing Lines Of Credit [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Available borrowing capacity $ 134,529  
Other secured borrowings $ 739,297 $ 783,774
London Interbank Offered Rate (LIBOR) [Member]    
Line of Credit Facility [Line Items]    
Basis spread on variable rate 0.75%  
London Interbank Offered Rate (LIBOR) [Member] | Master Repurchase Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Basis spread on variable rate [3] 2.00%  
London Interbank Offered Rate (LIBOR) [Member] | Mortgage Warehouse Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Basis spread on variable rate [6] 2.75%  
Eurodollar [Member] | Senior Secured Term Loan [Member] | Servicing [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Basis spread on variable rate [1] 4.25%  
Interest rate at index floor rate [1] 1.25%  
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Repurchase Agreements [Member] | Servicing [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Basis spread on variable rate [2] 2.00%  
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Master Repurchase Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Basis spread on variable rate [7] 2.75%  
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Repurchase Agreements [Member] | Servicing [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Basis spread on variable rate [2] 3.45%  
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Master Repurchase Agreement [Member] | Lending [Member] | Other Secured Borrowings [Member]    
Line of Credit Facility [Line Items]    
Basis spread on variable rate [7] 0.25%  
[1] The borrowings are secured by a first priority security interest in substantially all of the assets of Ocwen. Borrowings bear interest, at the election of Ocwen, at a rate per annum equal to either (a) the base rate (the greatest of (i) the prime rate in effect on such day, (ii) the federal funds rate in effect on such day plus 0.50% and (iii) the one-month Eurodollar rate (1-Month LIBOR)), plus a margin of 3.25% and subject to a base rate floor of 2.25% or (b) the one month Eurodollar rate, plus a margin of 4.25% and subject to a one month Eurodollar floor of 1.25%. To date we have elected option (b) to determine the interest rate.We entered into Amendment No. 5 to Senior Secured Term Loan Facility Agreement (the Amendment) effective as of March 28, 2016. The Amendment, among other things:•permanently removes the consolidated total debt to consolidated tangible net worth ratio, corporate leverage ratio and interest coverage ratio financial covenants;•maintains the loan-to-value ratio covenant at its current 40% level throughout the remaining term of the SSTL;•limits the repurchase of Ocwen’s common stock or options to an amount not to exceed the sum of (i) $20 million plus (ii) an amount equal to (x) $20 million times (y) the aggregate amount of prepayments on the SSTL made after March 28, 2016 divided by $50 million;•limits the repurchase of Ocwen’s 6.625% Senior Notes (the Senior Unsecured Notes) due 2019 to an amount not to exceed the sum of (i) $30 million plus (ii) an amount equal to (x) $30 million times (y) the aggregate amount of prepayments on the SSTL made after March 28, 2016 divided by $50 million;•requires that we make a prepayment on the SSTL in an amount equal to $6.3 million (for a total of $19.0 million) on each of May 31, 2016, July 29, 2016 and September 30, 2016; and•provides for a fee payable to the consenting lenders equal to 1.0% of the aggregate amount of such consenting lenders’ SSTL loans outstanding.
[2] The maximum borrowing under this facility is limited to the lesser of $100.0 million or $550.0 million less the lender’s current lending to Ocwen under advance funding facilities. Fifty percent of the maximum borrowing is available on a committed basis and fifty percent is available at the discretion of the lender.
[3] Under this repurchase agreement, the lender provides financing on a committed basis for $200.0 million.
[4] Under this participation agreement, the lender provides financing for $100.0 million at the discretion of the lender. The participation agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing. The lender earns the stated interest rate of the underlying mortgage loans while the loans are financed under the participation agreement. On April 11, 2016, we negotiated an extension of this agreement to May 15, 2016 and reduced the maximum borrowing to $75.0 million.
[5] Under this participation agreement, the lender provides financing for $150.0 million at the discretion of the lender. The participation agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing. The lender earns the stated interest rate of the underlying mortgage loans while the loans are financed under the participation agreement. On April 11, 2016, we negotiated an extension of this agreement to May 15, 2016 and increased the maximum borrowing to $175.0 million.
[6] Borrowing capacity of $100.0 million under this facility is available at the discretion of the lender.
[7] We entered into this agreement on January 5, 2016. The lender provides financing on a committed basis for $100.0 million.