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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Revenue    
Servicing and subservicing fees $ 222,138 $ 272,502
Gain on loans held for sale, net 19,800 22,944
Other 18,319 26,418
Total revenue 260,257 321,864
Expenses    
Compensation and benefits 78,075 91,801
Professional services 37,770 41,829
Servicing and origination 31,418 40,171
Technology and communications 22,803 27,347
MSR valuation adjustments, net 17,129 40,451
Occupancy and equipment 12,614 17,749
Other 6,692 17,035
Total expenses 206,501 [1] 276,383
Other income (expense)    
Interest income 2,700 3,763
Interest expense (50,810) (84,062)
Gain on sale of mortgage servicing rights, net 958 287
Other, net (1,639) 4,033
Total other expense, net (48,791) (75,979)
Income (loss) before income taxes 4,965 (30,498)
Income tax expense 2,348 2,125
Net income (loss) 2,617 (32,623)
Net income attributable to non-controlling interests (69) (101)
Net income (loss) attributable to Ocwen stockholders $ 2,548 $ (32,724)
Income (loss) per share attributable to Ocwen stockholders    
Basic (in USD per share) $ 0.02 $ (0.26)
Diluted (in USD per share) $ 0.02 $ (0.26)
Weighted average common shares outstanding    
Basic (in shares) 133,121,465 124,014,928
Diluted (in shares) [2] 134,606,929 124,014,928
[1] Expenses in the Corporate Items and Other segment for the three months ended March 31, 2018 includes $5.6 million of severance expense attributable to headcount reductions in connection with our strategic initiatives to exit the ACS business and the forward lending correspondent and wholesale channels, as well as our overall efforts to reduce costs.
[2] Stock options were anti-dilutive because their exercise price was greater than the average market price of Ocwen’s stock.