XML 107 R93.htm IDEA: XBRL DOCUMENT
v3.20.2

Borrowings - Schedule of Other Secured Borrowings (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended
--- | --- | --- | ---
Mar. 31, 2020 | Jun. 30, 2020 | Dec. 31, 2019
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | $ 0 |
Other secured borrowings |  | $ 7,071,838 | $ 7,036,030
London Interbank Offered Rate (LIBOR) |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 0.16% | 1.76%
Secured Debt |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | $ 144,930 |
Other secured borrowings |  | 335,081 | $ 372,015
Unamortized debt issuance costs - SSTL |  | (7,603) | (3,381)
Discount - SSTL |  | (491) | (1,134)
Long-term debt |  | $ 847,331 | $ 1,025,791
Weighted average interest rate |  | 4.30% | 4.74%
Secured Debt | Senior Secured Term Loan |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | $ 0 |
Other secured borrowings |  | 195,000 | $ 326,066
Secured Debt | Master Repurchase Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 18,933 |
Other secured borrowings |  | 91,067 | 91,573
Secured Debt | Mortgage Warehouse Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 0 |
Other secured borrowings |  | 0 | 72,443
Secured Debt | Master Repurchase Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 83,249 |
Other secured borrowings |  | 116,751 | 139,227
Secured Debt | Master Repurchase Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 0 |
Other secured borrowings |  | $ 0 | 898
Basis spread on variable rate |  | 0.00% |
Interest rate at index floor rate |  | 4.00% |
Secured Debt | Master Repurchase Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | $ 0 |
Other secured borrowings |  | 0 | 0
Secured Debt | Participation Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Other secured borrowings |  | 0 | 17,304
Secured Debt | Master Repurchase Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 57,458 |
Other secured borrowings |  | 32,542 | 0
Secured Debt | Mortgage Warehouse Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 42,086 |
Other secured borrowings |  | 7,914 | 10,780
Secured Debt | Mortgage Warehouse Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 0 |
Other secured borrowings |  | 77,070 | 0
Secured Debt | Agency Mortgage Servicing Rights Financing Facility |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 144,930 |
Other secured borrowings |  | 105,070 | 147,706
Secured Debt | Ginnie Mae Mortgage Servicing Rights Financing Facility |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 0 |
Long-term debt |  | 97,060 | 72,320
Secured Debt | Ocwen Excess Spread-Collateralized Notes, Series 2019-PLS1 Class A |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 0 |
Long-term debt |  | 80,138 | 94,395
Secured Debt | OASIS Series 2014-1 |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 0 |
Long-term debt |  | 52,813 | 57,594
Secured Debt | Total Servicing Lines of Credit |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 346,656 |
Short term and long term debt |  | $ 855,425 | 1,030,306
Secured Debt | London Interbank Offered Rate (LIBOR) | Mortgage Warehouse Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Interest rate at index floor rate |  | 0.00% |
Secured Debt | London Interbank Offered Rate (LIBOR) | Master Repurchase Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Interest rate at index floor rate |  | 0.35% |
Secured Debt | London Interbank Offered Rate (LIBOR) | Mortgage Warehouse Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate | 3.50% |  |
Interest rate at index floor rate |  | 1.75% |
Secured Debt | London Interbank Offered Rate (LIBOR) | Mortgage Warehouse Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Interest rate at index floor rate |  | 3.50% |
Secured Debt | London Interbank Offered Rate (LIBOR) | Agency Mortgage Servicing Rights Financing Facility |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 4.50% |
Secured Debt | Eurodollar | Senior Secured Term Loan |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 6.00% |
Interest rate at index floor rate |  | 1.00% |
Secured Debt | Minimum | London Interbank Offered Rate (LIBOR) | Mortgage Warehouse Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 2.50% |
Secured Debt | Minimum | London Interbank Offered Rate (LIBOR) | Master Repurchase Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Interest rate at index floor rate |  | 2.25% |
Secured Debt | Minimum | London Interbank Offered Rate (LIBOR) | Master Repurchase Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 1.70% |
Secured Debt | Minimum | London Interbank Offered Rate (LIBOR) | Mortgage Warehouse Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 3.50% |
Secured Debt | Minimum | London Interbank Offered Rate (LIBOR) | Mortgage Warehouse Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 2.50% |
Secured Debt | Minimum | London Interbank Offered Rate (LIBOR) | Ginnie Mae Mortgage Servicing Rights Financing Facility |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 3.95% |
Secured Debt | Maximum | London Interbank Offered Rate (LIBOR) | Mortgage Warehouse Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 3.50% |
Secured Debt | Maximum | London Interbank Offered Rate (LIBOR) | Master Repurchase Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Interest rate at index floor rate |  | 2.75% |
Secured Debt | Maximum | London Interbank Offered Rate (LIBOR) | Ginnie Mae Mortgage Servicing Rights Financing Facility |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 7.00% |
Warehouse Agreement Borrowings |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | $ 0 |
Warehouse Agreement Borrowings | Secured Debt |  |  |
Line of Credit Facility [Line Items] |  |  |
Available borrowing capacity |  | 201,726 |
Other secured borrowings |  | $ 325,344 | $ 332,225
Warehouse Agreement Borrowings | Secured Debt | London Interbank Offered Rate (LIBOR) | Mortgage Warehouse Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 3.50% |
Warehouse Agreement Borrowings | Secured Debt | London Interbank Offered Rate (LIBOR) | Mortgage Warehouse Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 2.50% |
Warehouse Agreement Borrowings | Secured Debt | London Interbank Offered Rate (LIBOR) | Agency Mortgage Servicing Rights Financing Facility |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 4.50% |
Warehouse Agreement Borrowings | Secured Debt | London Interbank Offered Rate (LIBOR) | Ginnie Mae Mortgage Servicing Rights Financing Facility |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 3.95% |
Warehouse Agreement Borrowings | Secured Debt | London Interbank Offered Rate (LIBOR) | Ocwen Excess Spread-Collateralized Notes, Series 2019-PLS1 Class A |  |  |
Line of Credit Facility [Line Items] |  |  |
Interest rate (as a percent) |  | 5.07% |
Warehouse Agreement Borrowings | Secured Debt | Eurodollar |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 3.50% |
Warehouse Agreement Borrowings | Secured Debt | Minimum | London Interbank Offered Rate (LIBOR) | Master Repurchase Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 2.20% |
Warehouse Agreement Borrowings | Secured Debt | Maximum | London Interbank Offered Rate (LIBOR) | Master Repurchase Agreement |  |  |
Line of Credit Facility [Line Items] |  |  |
Basis spread on variable rate |  | 3.75% |

X
- Definition Represents the index floor rate used for interest rate on the debt instrument. + References No definition available. + Details
Name: | ocn_DebtInstrumentInterestRateAtIndexFloorRate
Namespace Prefix: | ocn_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=120520924&loc=SL6031897-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 + Details
Name: | us-gaap_DebtInstrumentCarryingAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Amount, after accumulated amortization, of debt discount. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 + Details
Name: | us-gaap_DebtInstrumentUnamortizedDiscount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Amount of unused borrowing capacity under the long-term financing arrangement that is available to the entity as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Represents the aggregate of total long-term debt, including current maturities and short-term debt. + References No definition available. + Details
Name: | us-gaap_DebtLongtermAndShorttermCombinedAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Weighted average interest rate of debt outstanding. + References No definition available. + Details
Name: | us-gaap_DebtWeightedAverageInterestRate
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 4 -Subparagraph (b)(3) -URI http://asc.fasb.org/extlink&oid=120520924&loc=SL6031897-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The remaining balance of debt issuance expenses that were capitalized and are being amortized against income over the lives of the respective bond issues. This does not include the amounts capitalized as part of the cost of the utility plant or asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.17) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_UnamortizedDebtIssuanceExpense
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=us-gaap_SecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_SeniorSecuredTermLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MasterRepurchaseAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MortgageWarehouseAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MasterRepurchaseAgreementTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MasterRepurchaseAgreementThreeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MasterRepurchaseAgreementFourMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_ParticipationAgreementTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MasterRepurchaseAgreementFiveMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MortgageWarehouseAgreementTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_MortgageWarehouseAgreementThreeMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_AgencyMortgageServicingRightsFinancingFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_GinnieMaeMortgageServicingRightsFinancingFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_OcwenExcessSpreadCollateralizedNotesSeries2019PLS1ClassAMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_OASISSeries20141Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=ocn_TotalServicingLinesOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_EurodollarMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ShortTermDebtTypeAxis=us-gaap_WarehouseAgreementBorrowingsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |