XML 28 R12.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Loans Held for Sale | 9 Months Ended
--- | ---
Sep. 30, 2018
Receivables [Abstract] |
Loans Held for Sale | Note 4 – Loans Held for Sale
Loans Held for Sale - Fair Value | Nine Months Ended September 30,
2018 |  | 2017
Beginning balance | $ | 214,262 |  |  | $ | 284,632 |
Originations and purchases | 671,503 |  |  | 2,204,028 |
Proceeds from sales | (728,531 | ) |  | (2,310,294 | )
Principal collections | (14,201 | ) |  | (3,684 | )
Transfers from (to): |  |  |
Loans held for investment, at fair value | 694 |  |  | — |
Loans held for sale - Lower of cost or fair value | (11,564 | ) |  | — |
Receivables, net | (1,165 | ) |  | — |
Real estate owned (Other assets) | (2,240 | ) |  | — |
Gain on sale of loans | 25,525 |  |  | 22,131 |
Increase (decrease) in fair value of loans | (12,791 | ) |  | 1,836 |
Other | 3,925 |  |  | 1,789 |
Ending balance (1) | $ | 145,417 |  |  | $ | 200,438 |
(1) | At September 30, 2018 and 2017, the balances include $(6.5) million and $6.7 million, respectively, of fair value adjustments.
At September 30, 2018, loans held for sale, at fair value with a UPB of $76.3 million were pledged as collateral to warehouse lines of credit in our Lending segment.
Loans Held for Sale - Lower of Cost or Fair Value | Nine Months Ended September 30,
2018 |  | 2017
Beginning balance | $ | 24,096 |  |  | $ | 29,374 |
Purchases | 563,327 |  |  | 870,697 |
Proceeds from sales | (400,693 | ) |  | (746,999 | )
Principal collections | (11,101 | ) |  | (6,545 | )
Transfers from (to): |  |  |
Receivables, net | (118,762 | ) |  | (137,807 | )
Real estate owned (Other assets) | (1,681 | ) |  | (711 | )
Loans held for sale - Fair value | 11,564 |  |  | — |
Gain on sale of loans | 2,180 |  |  | 8,332 |
(Increase) decrease in valuation allowance | (3,144 | ) |  | 1,566 |
Other | 6,233 |  |  | 5,317 |
Ending balance (1) | $ | 72,019 |  |  | $ | 23,224 |
(1) | At September 30, 2018 and 2017, the balances include $53.0 million and $17.6 million, respectively, of loans that we repurchased from Ginnie Mae guaranteed securitizations pursuant to Ginnie Mae servicing guidelines. We may repurchase loans that have been modified, to facilitate loss reduction strategies, or as otherwise obligated as a Ginnie Mae servicer. Repurchased loans may be modified or otherwise remediated through loss mitigation activities, may be sold to a third party, or are reclassified to receivables.
Valuation Allowance - Loans Held for Sale at Lower of Cost or Fair Value | Three Months Ended September 30, |  | Nine Months Ended September 30,
2018 |  | 2017 |  | 2018 |  | 2017
Beginning balance | $ | 7,535 |  |  | $ | 6,491 |  |  | $ | 7,318 |  |  | $ | 10,064 |
Provision | 2,755 |  |  | 906 |  |  | 3,036 |  |  | 1,761 |
Transfer from Liability for indemnification obligations (Other liabilities) | 554 |  |  | 1,529 |  |  | 1,551 |  |  | 2,416 |
Sales of loans | (382 | ) |  | (426 | ) |  | (1,464 | ) |  | (6,071 | )
Other | — |  |  | (2 | ) |  | 21 |  |  | 328 |
Ending balance | $ | 10,462 |  |  | $ | 8,498 |  |  | $ | 10,462 |  |  | $ | 8,498 |
Gain on Loans Held for Sale, Net | Three Months Ended September 30, |  | Nine Months Ended September 30,
2018 |  | 2017 |  | 2018 |  | 2017
Gain on sales of loans, net |  |  |  |  |  |  |
MSRs retained on transfers of forward loans | $ | 1,427 |  |  | $ | 3,572 |  |  | $ | 5,880 |  |  | $ | 18,604 |
Fair value gains related to transfers of reverse mortgage loans, net | 9,421 |  |  | 15,747 |  |  | 36,870 |  |  | 37,434 |
Gain on sale of repurchased Ginnie Mae loans | 1,222 |  |  | 4,577 |  |  | 2,179 |  |  | 8,332 |
Other, net | 4,459 |  |  | 6,730 |  |  | 24,028 |  |  | 19,635 |
| 16,529 |  |  | 30,626 |  |  | 68,957 |  |  | 84,005 |
Change in fair value of IRLCs | 26 |  |  | (178 | ) |  | 137 |  |  | (1,605 | )
Change in fair value of loans held for sale | 365 |  |  | (2,078 | ) |  | (9,781 | ) |  | 3,735 |
Gain (loss) on economic hedge instruments | 84 |  |  | (2,420 | ) |  | 2,082 |  |  | (8,604 | )
Other | (62 | ) |  | (173 | ) |  | (260 | ) |  | (555 | )
| $ | 16,942 |  |  | $ | 25,777 |  |  | $ | 61,135 |  |  | $ | 76,976 |

X
- Definition The entire disclosure for the loans held for sale carried at fair value and lower of cost or fair value. + References No definition available. + Details
Name: | ocn_LoansHeldForSaleTextBlock
Namespace Prefix: | ocn_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration