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Borrowings - Schedule of Match Funded Liabilities (Details) - USD ($)
 3 Months Ended 9 Months Ended
Mar. 31, 2016
Sep. 30, 2016
Dec. 31, 2015
Debt Instrument [Line Items]      
Available borrowing capacity   $ 0  
Match funded liabilities   $ 1,365,532,000 $ 1,584,049,000
Weighted average interest rate   3.15% 3.15%
Match Funded Liabilties [Member]      
Debt Instrument [Line Items]      
Available borrowing capacity [1]   $ 204,468,000  
Match funded liabilities   1,365,532,000 $ 1,584,049,000
Total Ocwen Master Advance Receivables Trust (OMART) [Member]      
Debt Instrument [Line Items]      
Available borrowing capacity [1]   131,829,000  
Match funded liabilities   1,188,171,000 1,393,156,000
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],[2]   35,768,000  
Match funded liabilities [2]   $ 77,411,000 132,651,000
Maturity date [2],[3]   Aug. 31, 2047  
Amortization date [2],[3]   Aug. 31, 2017  
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]   $ 1,634,000  
Match funded liabilities [2]   $ 3,703,000 6,330,000
Maturity date [2],[3]   Aug. 31, 2047  
Amortization date [2],[3]   Aug. 31, 2017  
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]   $ 1,808,000  
Match funded liabilities [2]   $ 4,097,000 6,977,000
Maturity date [2],[3]   Aug. 31, 2047  
Amortization date [2],[3]   Aug. 31, 2017  
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],[2]   $ 4,733,000  
Match funded liabilities [2]   $ 10,846,000 18,427,000
Maturity date [2],[3]   Aug. 31, 2047  
Amortization date [2],[3]   Aug. 31, 2017  
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],[2]   $ 35,768,000  
Match funded liabilities [2]   $ 77,411,000 132,651,000
Maturity date [2],[3]   Aug. 31, 2047  
Amortization date [2],[3]   Aug. 31, 2017  
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]   $ 1,634,000  
Match funded liabilities [2]   $ 3,703,000 6,330,000
Maturity date [2],[3]   Aug. 31, 2047  
Amortization date [2],[3]   Aug. 31, 2017  
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]   $ 1,808,000  
Match funded liabilities [2]   $ 4,097,000 6,977,000
Maturity date [2],[3]   Aug. 31, 2047  
Amortization date [2],[3]   Aug. 31, 2017  
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],[2]   $ 4,733,000  
Match funded liabilities [2]   $ 10,846,000 18,427,000
Maturity date [2],[3]   Aug. 31, 2047  
Amortization date [2],[3]   Aug. 31, 2017  
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],[2]   $ 35,768,000  
Match funded liabilities [2]   $ 77,411,000 132,652,000
Maturity date [2],[3]   Aug. 31, 2047  
Amortization date [2],[3]   Aug. 31, 2017  
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]   $ 1,634,000  
Match funded liabilities [2]   $ 3,703,000 6,330,000
Maturity date [2],[3]   Aug. 31, 2047  
Amortization date [2],[3]   Aug. 31, 2017  
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]   $ 1,808,000  
Match funded liabilities [2]   $ 4,097,000 6,977,000
Maturity date [2],[3]   Aug. 31, 2047  
Amortization date [2],[3]   Aug. 31, 2017  
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],[2]   $ 4,733,000  
Match funded liabilities [2]   $ 10,846,000 18,427,000
Maturity date [2],[3]   Aug. 31, 2047  
Amortization date [2],[3]   Aug. 31, 2017  
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],[4]   $ 0  
Match funded liabilities [4]   $ 0 244,809,000
Maturity date [3],[4]   Sep. 30, 2046  
Amortization date [3],[4]   Sep. 30, 2016  
Basis spread on variable rate [4]   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],[4]   $ 0  
Match funded liabilities [4]   $ 0 10,930,000
Maturity date [3],[4]   Sep. 30, 2046  
Amortization date [3],[4]   Sep. 30, 2016  
Basis spread on variable rate [4]   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],[4]   $ 0  
Match funded liabilities [4]   $ 0 12,011,000
Maturity date [3],[4]   Sep. 30, 2046  
Amortization date [3],[4]   Sep. 30, 2016  
Basis spread on variable rate [4]   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],[4]   $ 0  
Match funded liabilities [4]   $ 0 32,250,000
Maturity date [3],[4]   Sep. 30, 2046  
Amortization date [3],[4]   Sep. 30, 2016  
Basis spread on variable rate [4]   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],[4]   $ 0  
Match funded liabilities [4]   $ 0 161,973,000
Maturity date [3],[4]   Nov. 30, 2046  
Amortization date [3],[4]   Nov. 30, 2016  
Basis spread on variable rate [4]   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],[4]   $ 0  
Match funded liabilities [4]   $ 0 7,098,000
Maturity date [3],[4]   Nov. 30, 2046  
Amortization date [3],[4]   Nov. 30, 2016  
Basis spread on variable rate [4]   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],[4]   $ 0  
Match funded liabilities [4]   $ 0 8,113,000
Maturity date [3],[4]   Nov. 30, 2046  
Amortization date [3],[4]   Nov. 30, 2016  
Basis spread on variable rate [4]   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],[4]   $ 0  
Match funded liabilities [4]   $ 0 22,816,000
Maturity date [3],[4]   Nov. 30, 2046  
Amortization date [3],[4]   Nov. 30, 2016  
Basis spread on variable rate [4]   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],[4]   $ 0  
Match funded liabilities [4]   $ 310,195,000 310,195,000
Maturity date [3],[4]   Nov. 30, 2047  
Amortization date [3],[4]   Nov. 30, 2017  
Basis spread on variable rate [4]   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],[4]   $ 0  
Match funded liabilities [4]   $ 17,695,000 17,695,000
Maturity date [3],[4]   Nov. 30, 2047  
Amortization date [3],[4]   Nov. 30, 2017  
Basis spread on variable rate [4]   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],[4]   $ 0  
Match funded liabilities [4]   $ 19,262,000 19,262,000
Maturity date [3],[4]   Nov. 30, 2047  
Amortization date [3],[4]   Nov. 30, 2017  
Basis spread on variable rate [4]   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],[4]   $ 0  
Match funded liabilities [4]   $ 52,848,000 52,848,000
Maturity date [3],[4]   Nov. 30, 2047  
Amortization date [3],[4]   Nov. 30, 2017  
Basis spread on variable rate [4]   4.687%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2016-T1, Class A [Member]      
Debt Instrument [Line Items]      
Available borrowing capacity [1],[4]   $ 0  
Match funded liabilities [4]   $ 216,700,000 0
Maturity date [3],[4]   Aug. 31, 2048  
Amortization date [3],[4]   Aug. 31, 2018  
Basis spread on variable rate [4]   2.5207%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2016-T1, Class B [Member]      
Debt Instrument [Line Items]      
Available borrowing capacity [1],[4]   $ 0  
Match funded liabilities [4]   $ 9,000,000 0
Maturity date [3],[4]   Aug. 31, 2048  
Amortization date [3],[4]   Aug. 31, 2018  
Basis spread on variable rate [4]   3.0643%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2016-T1, Class C [Member]      
Debt Instrument [Line Items]      
Available borrowing capacity [1],[4]   $ 0  
Match funded liabilities [4]   $ 10,800,000 0
Maturity date [3],[4]   Aug. 31, 2048  
Amortization date [3],[4]   Aug. 31, 2018  
Basis spread on variable rate [4]   3.6067%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2016-T1, Class D [Member]      
Debt Instrument [Line Items]      
Available borrowing capacity [1],[4]   $ 0  
Match funded liabilities [4]   $ 28,500,000 0
Maturity date [3],[4]   Aug. 31, 2048  
Amortization date [3],[4]   Aug. 31, 2018  
Basis spread on variable rate [4]   4.2462%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2016-T2, Class A [Member]      
Debt Instrument [Line Items]      
Available borrowing capacity [1],[4]   $ 0  
Match funded liabilities [4]   $ 188,300,000 0
Maturity date [3],[4]   Aug. 31, 2049  
Amortization date [3],[4]   Aug. 31, 2019  
Basis spread on variable rate [4]   2.7215%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2016-T2, Class B [Member]      
Debt Instrument [Line Items]      
Available borrowing capacity [1],[4]   $ 0  
Match funded liabilities [4]   $ 8,500,000 0
Maturity date [3],[4]   Aug. 31, 2049  
Amortization date [3],[4]   Aug. 31, 2019  
Basis spread on variable rate [4]   3.2647%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2016-T2, Class C [Member]      
Debt Instrument [Line Items]      
Available borrowing capacity [1],[4]   $ 0  
Match funded liabilities [4]   $ 10,300,000 0
Maturity date [3],[4]   Aug. 31, 2049  
Amortization date [3],[4]   Aug. 31, 2019  
Basis spread on variable rate [4]   3.8066%  
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2016-T2, Class D [Member]      
Debt Instrument [Line Items]      
Available borrowing capacity [1],[4]   $ 0  
Match funded liabilities [4]   $ 27,900,000 0
Maturity date [3],[4]   Aug. 31, 2049  
Amortization date [3],[4]   Aug. 31, 2019  
Basis spread on variable rate [4]   4.4456%  
Total Ocwen Servicer Advance Receivables Trust III (OSARTIII) [Member]      
Debt Instrument [Line Items]      
Available borrowing capacity [1],[5]   $ 18,809,000  
Match funded liabilities [5]   71,191,000 51,415,000
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],[5]   11,069,000  
Match funded liabilities [5]   $ 46,207,000 31,343,000
Maturity date [3],[5]   Dec. 31, 2046  
Amortization date [3],[5]   Dec. 31, 2016  
Basis spread on variable rate [5]   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],[5]   $ 1,682,000  
Match funded liabilities [5]   $ 4,638,000 4,157,000
Maturity date [3],[5]   Dec. 31, 2046  
Amortization date [3],[5]   Dec. 31, 2016  
Basis spread on variable rate [5]   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],[5]   $ 1,813,000  
Match funded liabilities [5]   $ 5,255,000 4,564,000
Maturity date [3],[5]   Dec. 31, 2046  
Amortization date [3],[5]   Dec. 31, 2016  
Basis spread on variable rate [5]   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],[5]   $ 4,245,000  
Match funded liabilities [5]   $ 15,091,000 11,351,000
Maturity date [3],[5]   Dec. 31, 2046  
Amortization date [3],[5]   Dec. 31, 2016  
Basis spread on variable rate [5]   5.20%  
Total Ocwen Freddie Advance Funding Facility (OFAF) [Member]      
Debt Instrument [Line Items]      
Available borrowing capacity [1],[6]   $ 53,830,000  
Match funded liabilities [6]   106,170,000 139,478,000
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],[6]   32,720,000  
Match funded liabilities [6]   $ 86,280,000 112,882,000
Maturity date [3],[6]   Jun. 30, 2047  
Amortization date [3],[6]   Jun. 30, 2017  
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],[6]   $ 8,258,000  
Match funded liabilities [6]   $ 7,742,000 12,268,000
Maturity date [3],[6]   Jun. 30, 2047  
Amortization date [3],[6]   Jun. 30, 2017  
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],[6]   $ 3,518,000  
Match funded liabilities [6]   $ 3,482,000 5,951,000
Maturity date [3],[6]   Jun. 30, 2047  
Amortization date [3],[6]   Jun. 30, 2017  
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],[6]   $ 9,334,000  
Match funded liabilities [6]   $ 8,666,000 $ 8,377,000
Maturity date [3],[6]   Jun. 30, 2047  
Amortization date [3],[6]   Jun. 30, 2017  
London Interbank Offered Rate (LIBOR) [Member] | Advance Receivables Backed Notes - Series 2014-VF3, Class A [Member]      
Debt Instrument [Line Items]      
Weighted average interest rate   0.53% 0.43%
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Master Advance Receivables Trust (OMART) [Member]      
Debt Instrument [Line Items]      
Basis spread on variable rate   0.75%  
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 [2],[7]   1.85%  
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 [2]   2.50%  
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 [2]   3.80%  
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 [2]   5.45%  
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 [2]   1.85%  
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 [2]   2.50%  
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 [2]   3.80%  
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 [2]   5.45%  
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 [2]   1.85%  
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 [2]   2.50%  
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 [2]   3.80%  
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 [2]   5.45%  
London Interbank Offered Rate (LIBOR) [Member] | Total Ocwen Servicer Advance Receivables Trust III (OSARTIII) [Member]      
Debt Instrument [Line Items]      
Basis spread on variable rate 0.75%    
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 [6]   2.40%  
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 [6]   3.40%  
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 [6]   4.00%  
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 [6]   4.80%  
[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 September 30, 2016, none of the available borrowing capacity could be used based on the amount of eligible collateral that had been pledged.
[2] On August 12, 2016, the supplemental indentures for the OMART facility variable funding notes were amended to reduce the borrowing capacity of each series from $200.0 million to $140.0 million or a total decrease in borrowing capacity of $180.0 million. There is a ceiling of 75bps for 1ML in determining the interest rate for these variable rate notes.
[3] 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.
[4] Under the terms of the agreement, we must continue to borrow the full amount of the Series 2015-T3 Notes and the Series 2016-T1 and T2 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. On August 12, 2016, we issued the Series 2016-T1 and 2016-T2 Notes with a total borrowing capacity of $500.0 million. The proceeds from these notes were used to prepay at par the $500.0 million of Series 2015-T1 and 2015-T2 notes that were outstanding.
[5] On March 31, 2016, the maximum borrowing capacity under the OSART III facility was increased to $90.0 million. There is a ceiling of 75 bps for 1ML in determining the interest rate for these variable rate notes.
[6] On March 31, 2016, the combined borrowing capacity of the Series 2015-VF1 Notes was increased to $160.0 million. On June 10, 2016, the term of this facility was extended for an additional year. There is a ceiling of 125 bps for 1ML in determining the interest rate for these notes.
[7] 1ML was 0.53% and 0.43% at September 30, 2016 and December 31, 2015, respectively.