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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net loss $ (68,254) $ (83,194)
Adjustments to reconcile net loss to net cash provided by operating activities:    
MSR valuation adjustments, net 91,695 115,446
Gain on sale of mortgage servicing rights, net (303) (7,863)
Provision for bad debts 40,269 57,274
Depreciation 18,199 20,430
Loss on write-off of fixed assets 0 6,834
Amortization of debt issuance costs 2,261 1,979
Equity-based compensation expense 1,244 4,489
Gain on valuation of financing liability (11,323) (27,024)
Net gain on valuation of mortgage loans held for investment and HMBS-related borrowings (8,057) (18,637)
Gain on loans held for sale, net (24,265) (39,542)
Origination and purchase of loans held for sale (1,234,830) (3,074,725)
Proceeds from sale and collections of loans held for sale 1,154,526 3,067,522
Changes in assets and liabilities:    
Decrease in advances and match funded assets 243,831 285,066
Decrease in receivables and other assets, net 126,829 160,169
Decrease in other liabilities (46,767) (66,321)
Other, net 6,478 3,466
Net cash provided by operating activities 291,533 405,369
Cash flows from investing activities    
Origination of loans held for investment (711,035) (961,642)
Principal payments received on loans held for investment 296,800 311,560
Purchase of mortgage servicing rights (2,729) (1,658)
Proceeds from sale of mortgage servicing rights 6,138 2,263
Proceeds from sale of advances 7,882 6,119
Issuance of automotive dealer financing notes (19,642) (129,471)
Collections of automotive dealer financing notes 52,598 119,389
Additions to premises and equipment (7,326) (7,365)
Other, net 5,446 1,480
Net cash used in investing activities (371,868) (659,325)
Cash flows from financing activities    
Repayment of match funded liabilities, net (284,372) (252,981)
Proceeds from mortgage loan warehouse facilities and other secured borrowings 2,211,606 5,810,591
Repayments of mortgage loan warehouse facilities and other secured borrowings (2,585,286) (6,016,169)
Proceeds from sale of mortgage servicing rights accounted for as a financing 279,586 54,601
Proceeds from sale of reverse mortgages (HECM loans) accounted for as a financing (HMBS-related borrowings) 728,745 981,730
Repayment of HMBS-related borrowings (290,338) (287,908)
Issuance of common stock 0 13,913
Capital distribution to non-controlling interest (822) 0
Other, net (991) (2,321)
Net cash provided by financing activities 58,128 301,456
Net increase (decrease) in cash and restricted cash (22,207) 47,500
Cash and restricted cash at beginning of year 302,560 302,398
Cash and restricted cash at end of period 280,353 349,898
Supplemental non-cash investing and financing activities    
Loans held for investment, at fair value 28,373 0
Other financing liabilities 26,643 0
Issuance of common stock in connection with litigation settlement [1] $ 5,719 $ 0
[1] In January 2018, Ocwen issued 1,875,000 shares of common stock in connection with a previously approved securities litigation settlement.