XML 43 R33.htm IDEA: XBRL DOCUMENT
v3.22.1

Loans Held for Sale (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Receivables [Abstract] |
Schedule of Loans Held for Sale Fair Value |
Loans Held for Sale - Fair Value | Three Months Ended March 31, |  |
2022 |  | 2021 |  |  |  |
Beginning balance | $ | 917,534 |  |  | $ | 366,364 |  |  |  |  |
Originations and purchases | 3,472,610 |  |  | 3,333,901 |  |  |  |  |
Proceeds from sales | (3,570,863) |  |  | (3,169,015) |  |  |  |  |
Principal collections | (29,465) |  |  | (5,418) |  |  |  |  |
Transfers from (to): |  |  |  |  |  |  |
Loans held for investment, at fair value | 3,138 |  |  | 901 |  |  |  |  |
Receivables, net | (701) |  |  | (8,633) |  |  |  |  |
REO (Other assets) | — |  |  | (2,052) |  |  |  |  |
Gain (loss) on sale of loans | (72,302) |  |  | (13,732) |  |  |  |  |
Capitalization of advances on Ginnie Mae modifications | 7,303 |  |  | 3,394 |  |  |  |  |
Increase (decrease) in fair value of loans | (12,270) |  |  | (5,256) |  |  |  |  |
Other | 1,040 |  |  | 360 |  |  |  |  |
Ending balance (1) | $ | 716,024 |  |  | $ | 500,814 |  |  |  |  |
(1)At March 31, 2022 and 2021, the balances include $(16.7) million and $(12.0) million, respectively, of fair value adjustments.
Schedule of Loans Held for Sale at Lower Cost or Fair Value, Activity |
Loans Held for Sale - Lower of Cost or Fair Value | Three Months Ended March 31, |  |
2022 |  | 2021 |  |  |  |
Beginning balance - before Valuation Allowance | $ | 15,365 |  |  | $ | 27,652 |  |  |  |  |
Proceeds from sales | (336) |  |  | (4,840) |  |  |  |  |
Principal collections | (228) |  |  | (214) |  |  |  |  |
Transfers from (to): |  |  |  |  |  |  |
Receivables, net | (1,103) |  |  | (224) |  |  |  |  |
REO (Other assets) | (358) |  |  | (473) |  |  |  |  |
Gain on sale of loans | 4 |  |  | 389 |  |  |  |  |
Other | 3 |  |  | 181 |  |  |  |  |
Ending balance - before Valuation Allowance | 13,347 |  |  | 22,471 |  |  |  |  |
Beginning balance - Valuation Allowance | $ | (4,372) |  |  | $ | (6,180) |  |  |  |  |
(Provision for) reversal of valuation allowance | (71) |  |  | 703 |  |  |  |  |
Transfer to Liability for indemnification obligations (Other liabilities) | 123 |  |  | 15 |  |  |  |  |
Ending balance - Valuation Allowance | (4,320) |  |  | (5,462) |  |  |  |  |
Ending balance, net | $ | 9,027 |  |  | $ | 17,009 |  |  |  |  |
Schedule of Gains on Loans Held for Sale, Net |
Gain (loss) on Loans Held for Sale, Net | Three Months Ended March 31, |  |
2022 |  | 2021 |  |  |  |
Gain on sales of loans, net |  |  |  |  |  |  |
MSRs retained on transfers of forward mortgage loans | $ | 45,803 |  |  | $ | 34,260 |  |  |  |  |
Gain (loss) on sale of forward mortgage loans (1) | (72,296) |  |  | (18,567) |  |  |  |  |
Gain on sale of repurchased Ginnie Mae loans (1) | 599 |  |  | 4,900 |  |  |  |  |
| (25,894) |  |  | 20,593 |  |  |  |  |
Change in fair value of IRLCs | (12,057) |  |  | (8,618) |  |  |  |  |
Change in fair value of loans held for sale | (11,686) |  |  | (4,981) |  |  |  |  |
Gain (loss) on economic hedge instruments (2) | 47,107 |  |  | — |  |  |  |  |
Other | (674) |  |  | (1,273) |  |  |  |  |
| $ | (3,206) |  |  | $ | 5,721 |  |  |  |  |
(1)Realized gain (loss) on sale of loans, excluding retained MSRs. (2)Excludes gains of $13.3 million and $35.4 million on inter-segment economic hedge derivatives presented within MSR valuation adjustments, net for the three months ended March 31, 2022 and 2021, respectively. Third-party derivatives are hedging the net exposure of MSR and pipeline, and the change in fair value of derivatives are reported within MSR valuation adjustments, net. Inter-segment derivatives are established to transfer risk and allocate hedging gains/losses to the pipeline separately from the MSR portfolio. Refer to Note 18 – Business Segment Reporting.

X
- Definition Gain On Loans Held For Sale [Table Text Block] + References No definition available. + Details
Name: | ocn_GainOnLoansHeldForSaleTableTextBlock
Namespace Prefix: | ocn_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Loans Held For Sale Carried At Fair Value [Table Text Block] + References No definition available. + Details
Name: | ocn_LoansHeldForSaleCarriedAtFairValueTableTextBlock
Namespace Prefix: | ocn_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Loans Held For Sale At Lower Cost Or Fair Value, Activity [Table Text Block] + References No definition available. + Details
Name: | ocn_ScheduleofLoansHeldForSaleAtLowerCostOrFairValueActivityTableTextBlock
Namespace Prefix: | ocn_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration