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Business Acquisitions - Schedule of Supplemental Pro Forma Information (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Business Acquisition [Line Items]        
Increase in valuation of acquired MSRs $ 147,268 $ 33,118 $ 256,266 $ 50,247
Total net increase in revenue 274,338 253,581 578,226 513,838
Adjust depreciation expense to amortize internally developed software acquired from PHH on a straight-line basis based on a useful life of three years 11,012 6,115 19,563 12,640
Income tax benefit based on management’s estimate of the blended applicable statutory tax rates and observing the continued need for a valuation allowance $ 5,404 1,348 $ 8,814 3,696
PHH Corporation [Member]        
Business Acquisition [Line Items]        
Acquisition related costs   5,481   9,164
PHH Corporation [Member] | Fair Value Adjustments In Connection With Acquisition [Member]        
Business Acquisition [Line Items]        
Increase in valuation of acquired MSRs   6,829   1,082
Adjust interest expense for a total net decline [1]   9,879   12,216
Total net increase in revenue [2]   47,552   81,460
Adjust depreciation expense to amortize internally developed software acquired from PHH on a straight-line basis based on a useful life of three years   245   490
Income tax benefit based on management’s estimate of the blended applicable statutory tax rates and observing the continued need for a valuation allowance [3]   $ 580   $ 1,458
[1] Primarily pertains to fair value adjustments of $10.1 million and $12.7 million for the three and six months ended June 30, 2018, respectively, related to the assumed MSR secured liability using valuation assumptions consistent with Ocwen’s methodology.
[2] Primarily pertains to an increase to revenue of $42.6 million and $87.4 million for the three and six months ended June 30, 2018, respectively, for the gross-up of PHH MSRs sold and accounted for as a secured borrowing. The offset of the remaining adjustments are expenses, interest income and interest expense, with no net effect on earnings.
[3] The net income tax benefit recorded as a result of pro forma adjustments represents lower current federal tax under the new base erosion and anti-abuse tax (BEAT) provision of the 2017 Tax Cuts and Jobs Act (Tax Act) assuming Ocwen and PHH would file a consolidated federal tax return beginning January 1, 2017. The pro forma tax adjustments contemplate the effects of the Tax Act.