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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities      
Net loss $ (70,596) $ (128,457) $ (199,375)
Adjustments to reconcile net loss to net cash provided by operating activities:      
MSR valuation adjustments, net 153,457 52,962 124,029
Gain on sale of mortgage servicing rights, net (1,325) (10,537) (8,492)
Provision for bad debts 49,180 76,828 81,079
Depreciation 27,202 26,886 25,338
Loss on write-off of fixed assets, net 0 8,502 0
Amortization of debt issuance costs 2,921 2,738 25,662
Provision for (reversal of) valuation allowance on deferred tax assets (23,347) (29,979) 15,639
Decrease (increase) in deferred tax assets other than provision for valuation allowance 20,058 30,710 (11,119)
Equity-based compensation expense 2,366 5,624 5,181
(Gain) loss on valuation of financing liability (19,269) 41,282 0
(Gain) loss on trading securities (527) 6,756 (335)
Net gain on valuation of mortgage loans held for investment and HMBS-related borrowings (18,698) (23,733) (26,016)
Bargain purchase gain 64,036 0 0
Gain on loans held for sale, net (32,722) (53,209) (65,649)
Origination and purchase of loans held for sale (1,715,190) (3,695,163) (6,090,432)
Proceeds from sale and collections of loans held for sale 1,625,116 3,662,065 5,969,812
Changes in assets and liabilities:      
Decrease in advances and match funded advances 258,899 330,052 452,435
Decrease in receivables and other assets, net 144,310 199,209 128,398
Decrease in other liabilities (69,207) (100,650) (7,143)
Other, net 3,986 7,135 2,216
Net cash provided by operating activities 272,578 409,021 421,228
Cash flows from investing activities      
Origination of loans held for investment (920,476) (1,277,615) (1,098,758)
Principal payments received on loans held for investment 400,521 444,388 243,596
Net cash acquired by Ocwen 64,692 0 0
Restricted cash acquired in the acquisition of PHH 38,813 0 0
Purchase of mortgage servicing rights (5,433) (1,658) (17,356)
Proceeds from sale of mortgage servicing rights 7,276 4,234 47,044
Proceeds from sale of advances and match funded advances 33,792 9,446 103,017
Issuance of automotive dealer financing notes (19,642) (174,363) (100,722)
Collections of automotive dealer financing notes 52,598 162,965 65,688
Additions to premises and equipment (9,016) (9,053) (33,518)
Proceeds from sale of real estate 9,546 3,147 11,069
Other, net 2,464 (707) (11,679)
Net cash used in investing activities (344,865) (839,216) (791,619)
Cash flows from financing activities      
Repayment of match funded liabilities, net (220,334) (282,379) (303,052)
Proceeds from mortgage loan warehouse facilities and other secured borrowings 2,991,261 7,215,264 9,242,671
Repayments of mortgage loan warehouse facilities and other secured borrowings (3,417,398) (7,431,763) (9,463,063)
Repurchase of senior notes, net (18,482) 0 0
Payment of debt issuance costs 0 (841) (11,136)
Proceeds from sale of mortgage servicing rights accounted for as a financing 279,586 54,601 0
Proceeds from sale of reverse mortgages (HECM loans) accounted for as a financing (HMBS-related borrowings) 948,917 1,281,543 1,086,795
Repayment of HMBS-related borrowings (391,985) (418,503) (230,045)
Issuance of common stock 0 13,913 0
Repurchase of common stock 0 0 (5,890)
Capital distribution to non-controlling interest (822) 0 0
Purchase of non-controlling interest (1,188) 0 0
Other (2,818) (1,478) (49)
Net cash provided by financing activities 166,737 430,357 316,231
Net increase (decrease) in cash and restricted cash 94,450 162 (54,160)
Cash and restricted cash at beginning of year 302,560 302,398 356,558
Cash and restricted cash at end of year 397,010 302,560 302,398
Supplemental cash flow information      
Interest paid 271,835 364,702 389,638
Income tax payments (refunds), net 10,957 (23,501) 19,715
Supplemental non-cash investing and financing activities      
Loans held for investment 28,373 0 0
Other financing liabilities 26,643 0 0
Transfers from loans held for investment to loans held for sale 1,038 3,803 0
Transfers of loans held for sale to real estate owned 4,241 875 7,675
Issuance of common stock in connection with litigation settlement [1] 5,719 1,937 0
Exchange of senior unsecured notes for senior secured notes 0 0 346,878
Fair value of assets acquired      
Fair value of assets acquired 1,192,155 0 0
Fair value of liabilities assumed      
Fair value of liabilities assumed 769,723 0 0
Total identifiable net assets acquired 422,432 0 0
Bargain purchase gain 64,036 0 0
Total consideration 358,396 0 0
Less: Cash consideration paid by PHH (325,000) 0 0
Cash consideration paid by Ocwen 33,396 0 0
Cash acquired from PHH 98,088 0 0
Net cash acquired by Ocwen $ 64,692 $ 0 $ 0
[1] See Note 15 — Equity for additional information.