XML 179 R157.htm IDEA: XBRL DOCUMENT
v3.20.4

Subsequent Events - Narrative (Details) |  |  |  | 12 Months Ended |
--- | --- | --- | --- | --- | ---
Mar. 04, 2021 USD ($) | Feb. 09, 2021 USD ($) $ / shares | Dec. 21, 2020 | Dec. 31, 2020 USD ($) $ / shares | Dec. 31, 2019 USD ($)
Subsequent Event [Line Items] |  |  |  |  |
Senior notes, net |  |  |  | $ 311,898,000 | $ 311,085,000
Covenant liquidity requirement |  |  |  | 27,500,000 |
Cash and cash equivalents |  |  |  | 284,802,000 | $ 428,339,000
Minimum |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Covenant liquidity requirement |  |  |  | $ 125,000,000.0 |
Senior Unsecured Notes |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Redemption Price |  |  |  | 100.00% |
Debt Instrument, Redemption, Period |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Redemption Price |  |  |  | 102.094% |
Oaktree |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Warrants issued, percentage of outstanding common stock |  |  | 0.03 |  |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares |  |  |  | $ 24.31 |
Oaktree | Maximum |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Ownership Percentage on Exercise of Warrants |  |  |  | 0.199 |
Subsequent Event |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Extinguishment of Debt, Amount | $ 7,100,000 |  |  |  |
Warrants issued, percentage of outstanding common stock |  | 0.12 |  |  |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares |  | $ 26.82 |  |  |
Subsequent Event | Maximum |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Additional Debt Financing |  | $ 450,000,000.0 |  |  |
Subsequent Event | Minimum |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Book value of common equity |  | 360,000,000.0 |  |  |
Covenant liquidity requirement |  | 125,000,000.0 |  |  |
Cash and cash equivalents |  | 50,000,000.0 |  |  |
Proceeds from Issuance of Debt |  | 100,000,000.0 |  |  |
Subsequent Event | Senior Unsecured Notes | Minimum |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Book value of common equity |  | 275,000,000.0 |  |  |
Subsequent Event | SSTL, Senior Unsecured and Secured Second Lien Note |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Extinguishment of Debt, Amount |  | 15,500,000 |  |  |
Debt instrument, face amount |  | 498,100,000 |  |  |
Subsequent Event | Debt Instrument, Redemption, Period |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Redemption Price | 100.00% |  |  |  |
Subsequent Event | Debt Instrument, Redemption, Period |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Redemption Price | 102.094% |  |  |  |
Subsequent Event | Oaktree |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Senior notes, net |  | $ 285,000,000.0 |  |  |
Subsequent Event | Oaktree | Maximum | Majority Shareholder |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Ownership Percentage on Exercise of Warrants |  | 0.199 |  |  |
Subsequent Event | Oaktree | Maximum | Regulator |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Ownership Percentage on Exercise of Warrants |  | 0.099 |  |  |
Subsequent Event | Oaktree | Senior Unsecured Notes |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Debt instrument stated percentage of interest (percentage) |  | 12.00% |  |  |
Redemption Price |  | 101.00% |  |  |
Percentage Of PIK Interest |  | 0.1325 |  |  |
Weighted average interest rate (percentage) |  | 7.00% |  |  |
Alternate Transaction Fee |  | $ 35,000,000.0 |  |  |
Subsequent Event | Oaktree | First Tranche |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Senior notes, net |  | 199,500,000 |  |  |
Subsequent Event | Oaktree | Second Tranche |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Senior notes, net |  | $ 85,500,000 |  |  |
6.375% Senior Notes, Due 2021 |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Debt instrument stated percentage of interest (percentage) |  |  |  | 6.375% |
6.375% Senior Notes, Due 2021 | Senior Unsecured Notes |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Weighted average interest rate (percentage) |  |  |  | 6.375% |
8.375% Senior Secured Notes Due In 2022 |  |  |  |  |
Subsequent Event [Line Items] |  |  |  |  |
Debt instrument stated percentage of interest (percentage) |  |  |  | 8.375% |

X
- Definition Maximum threshold on additional debt financing. + References No definition available. + Details
Name: | ocn_AdditionalDebtFinancing
Namespace Prefix: | ocn_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Alternate transaction fee. + References No definition available. + Details
Name: | ocn_AlternateTransactionFee
Namespace Prefix: | ocn_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Debt instrument, covenant compliance, consolidated book value of common equity at period end. + References No definition available. + Details
Name: | ocn_DebtInstrumentCovenantComplianceConsolidatedBookValueOfCommonEquityAtPeriodEnd
Namespace Prefix: | ocn_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Debt Instrument, Covenant Compliance, Liquidity Requirement + References No definition available. + Details
Name: | ocn_DebtInstrumentCovenantComplianceLiquidityRequirement
Namespace Prefix: | ocn_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Ownership percentage on exercise of warrants. + References No definition available. + Details
Name: | ocn_OwnershipPercentageOnExerciseOfWarrants
Namespace Prefix: | ocn_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage Of Paid In Kind Interest + References No definition available. + Details
Name: | ocn_PercentageOfPaidInKindInterest
Namespace Prefix: | ocn_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition This represents the percentage of outstanding common stock issued with warrants to purchase shares. + References No definition available. + Details
Name: | ocn_WarrantsIssuedPercentageOfOutstandingCommonStock
Namespace Prefix: | ocn_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section 45 -Paragraph 20 -URI http://asc.fasb.org/extlink&oid=118262064&loc=SL116631418-115840 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.1) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section 45 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=118262064&loc=SL116631419-115840 + Details
Name: | us-gaap_Cash
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Exercise price per share or per unit of warrants or rights outstanding. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
Name: | us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
Namespace Prefix: | us-gaap_
Data Type: | num:perShareItemType
Balance Type: | na
Period Type: | instant

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 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_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 6 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120520924&loc=SL6036836-161870 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 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(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
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 Percentage price of original principal amount of debt at which debt can be redeemed by the issuer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph e -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 + Details
Name: | us-gaap_DebtInstrumentRedemptionPricePercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Gross amount of debt extinguished. + References No definition available. + Details
Name: | us-gaap_ExtinguishmentOfDebtAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121586364&loc=d3e3255-108585 + Details
Name: | us-gaap_ProceedsFromIssuanceOfDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of Notes with the highest claim on the assets of the issuer in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle if longer). Senior note holders are paid off in full before any payments are made to junior note holders. + References Reference 1: 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(a)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 2: 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_SeniorNotes
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event. + References No definition available. + Details
Name: | us-gaap_SubsequentEventLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_UnsecuredDebtMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodFiveMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_CounterpartyNameAxis=ocn_OaktreeCapitalManagementLPAndAffiliatesMember
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_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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

X
- Details
Name: | us-gaap_DebtInstrumentRedemptionPeriodAxis=us-gaap_DebtInstrumentRedemptionPeriodTwoMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RegulatoryAgencyAxis=us-gaap_MajorityShareholderMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RegulatoryAgencyAxis=ocn_RegulatorMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

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

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

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

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