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Borrowings - Schedule of Financing Liabilities (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2019
Dec. 31, 2018
Debt Instrument [Line Items]    
HMBS-related borrowings [1] $ 5,745,383 $ 5,380,448
Other financing liabilities 931,451 1,127,613
Total Financing liabilities 6,676,834 6,508,061
Financing liability – MSRs pledged [Member]    
Debt Instrument [Line Items]    
Other financing liabilities 844,913 1,032,856
Financing liability – MSRs pledged [Member] | Original Rights to MSRs Agreements [Member]    
Debt Instrument [Line Items]    
Other financing liabilities [2] 412,909 436,511
Financing liability – MSRs pledged [Member] | 2017 Agreements and New RMSR Agreements [Member]    
Debt Instrument [Line Items]    
Other financing liabilities [3] 88,103 138,854
Financing liability – MSRs pledged [Member] | PHH MSR Agreements [Member]    
Debt Instrument [Line Items]    
Other financing liabilities [4] $ 343,901 457,491
Secured Notes, Ocwen Asset Servicing Income Series, Series 2014-1 [Member]    
Debt Instrument [Line Items]    
Maturity date [5] Feb. 28, 2028  
Other financing liabilities [5] $ 62,841 65,523
IndyMac Mortgage Loan Trust (INDX 2004-AR11) [Member]    
Debt Instrument [Line Items]    
Other financing liabilities [6] 10,629 11,012
Residential Asset Securitization Trust 2003-A11 (RAST 2003-A11) [Member]    
Debt Instrument [Line Items]    
Other financing liabilities [6] 13,068 13,803
Financing Liability Owed to Securitization Investors [Member]    
Debt Instrument [Line Items]    
Other financing liabilities 23,697 24,815
Financing Liability – Advances Pledged [Member]    
Debt Instrument [Line Items]    
Other financing liabilities [7] $ 0 $ 4,419
London Interbank Offered Rate (LIBOR) [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate 2.40% 2.50%
London Interbank Offered Rate (LIBOR) [Member] | HMBS - Related Borrowings [Member]    
Debt Instrument [Line Items]    
Basis spread on variable rate [1] 2.60%  
[1] Represents amounts due to the holders of beneficial interests in Ginnie Mae guaranteed HMBS. The beneficial interests have no maturity dates, and the borrowings mature as the related loans are repaid.
[2] This financing liability has no contractual maturity or repayment schedule. The balance of the liability is adjusted each reporting period to its fair value based on the present value of the estimated future cash flows underlying the related MSRs.
[3] This financing liability arose in connection with lump sum payments received upon transfer of legal title of the MSRs related to the Rights to MSRs transactions to NRZ in September 2017. In connection with the execution of the New RMSR Agreements in January 2018, we received a lump sum payment of $279.6 million as compensation for foregoing certain payments under the Original Rights to MSRs Agreements. The balance of the liability is adjusted each reporting period to its fair value based on the present value of the estimated future cash flows. The expected maturity of the liability is April 30, 2020, the date through which we were scheduled to be the servicer on loans underlying the Rights to MSRs per the Original Rights to MSRs Agreements.
[4] Represents a liability for sales of MSRs that are accounted for as a secured borrowing which we assumed in connection with the acquisition of PHH. Under this accounting treatment, the MSRs transferred to NRZ remain on the consolidated balance sheet and the proceeds from the sale are recognized as a secured liability. We elected to record the liability at fair value consistent with the related MSRs.
[5] OASIS noteholders are entitled to receive a monthly payment equal to the sum of: (a) 21 basis points of the UPB of the reference pool of Freddie Mac mortgages; (b) any termination payment amounts; (c) any excess refinance amounts; and (d) the note redemption amounts, each as defined in the indenture supplement for the notes. Monthly amortization of the liability is estimated using the proportion of monthly projected service fees on the underlying MSRs as a percentage of lifetime projected fees, adjusted for the term of the notes.
[6] Consists of securitization debt certificates due to third parties that represent beneficial interests in trusts that we include in our unaudited consolidated financial statements, as more fully described in Note 4 – Securitizations and Variable Interest Entities. The holders of these certificates have no recourse against the assets of Ocwen. The certificates in the INDX 2004-AR11 Trust pay interest based on variable rates which are generally based on weighted average net mortgage rates and which range between 3.70% and 4.29% at June 30, 2019. The certificates in the RAST 2003-A11 Trust pay interest based on fixed rates ranging between 4.25% and 5.75% and a variable rate based on 1ML plus 0.45%. The maturity of the certificates occurs upon maturity of the loans held by the trust. The remaining loans in the INDX 2004-AR11 Trust and RAST 2003-A11 Trust have maturity dates extending through November 2034 and October 2033, respectively.
[7] Certain sales of advances did not qualify for sales accounting treatment and were accounted for as a financing. This financing liability has no contractual maturity. The effective interest rate is based on 1ML plus a margin of 450 bps.