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Interest Expense | 3 Months Ended
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Mar. 31, 2017
Other Income and Expenses [Abstract] |
Interest Expense | Note 14 – Interest Expense The following table presents the components of interest expense:
| For the Three Months Ended March 31,
| 2017 |  | 2016
Financing liabilities (1) (2) | $ | 52,969 |  |  | $ | 67,707 |
Match funded liabilities | 12,849 |  |  | 18,174 |
Other secured borrowings | 9,548 |  |  | 12,713 |
Senior notes | 7,456 |  |  | 6,208 |
Other | 1,240 |  |  | 1,287 |
| $ | 84,062 |  |  | $ | 106,089 |
(1) | Includes interest expense related to financing liabilities recorded in connection with the NRZ/HLSS Transactions as indicated in the table below. 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.
| For the Three Months Ended March 31,
| 2017 |  | 2016
Servicing fees collected on behalf of NRZ/HLSS | $ | 147,311 |  |  | $ | 162,129 |
Less: Subservicing fee retained by Ocwen | 79,154 |  |  | 84,370 |
Net servicing fees remitted to NRZ/HLSS | 68,157 |  |  | 77,759 |
Less: Reduction in financing liability | 16,999 |  |  | 18,201 |
Interest expense on NRZ/HLSS financing liability | $ | 51,158 |  |  | $ | 59,558 |
(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 a period of 12 months (beginning June 2015) for certain increased costs associated with its servicing advance financing facilities that were the direct result of a previous downgrade of our S&P servicer rating.
Interest expense that we expect to be paid on the HMBS-related borrowings is included with net fair value gains in Other revenues.

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