XML 103 R89.htm IDEA: XBRL DOCUMENT v3.22.2
Borrowings - Schedule of Mortgage Loan Warehouse and MSR Financing Facilities (Details)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2022
USD ($)
Dec. 31, 2021
USD ($)
Jul. 29, 2022
USD ($)
Jun. 29, 2022
USD ($)
Jun. 23, 2022
USD ($)
Jun. 22, 2022
USD ($)
May 02, 2022
USD ($)
Apr. 11, 2022
USD ($)
Mar. 31, 2022
USD ($)
Mar. 15, 2022
USD ($)
Feb. 28, 2022
USD ($)
Feb. 27, 2022
USD ($)
Jan. 05, 2022
USD ($)
Jan. 04, 2022
USD ($)
Line of Credit Facility [Line Items]                            
Prepaid lender fees, net $ 6,790 $ 7,150                        
Unamortized debt issuance costs (1,200) (900)                        
August 2022 Master Repurchase Agreement                            
Line of Credit Facility [Line Items]                            
Maximum borrowing capacity 275,000                          
Borrowings available on committed basis 160,000                          
August 2022 Master Repurchase Agreement | Subsequent Event                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity     $ 125,000                      
Maximum borrowing capacity     175,000                      
Borrowings available on committed basis     $ 50,000                      
December 2022 Master Repurchase Agreement                            
Line of Credit Facility [Line Items]                            
Maximum borrowing capacity 450,000                          
Borrowings available on committed basis 200,000                          
Participation Agreement                            
Line of Credit Facility [Line Items]                            
Maximum borrowing capacity 150,000       $ 173,000 $ 100,000                
March 2023 Mortgage Warehouse Agreement                            
Line of Credit Facility [Line Items]                            
Borrowings available on committed basis 50,000                          
March 2023 Mortgage Warehouse Agreement2                            
Line of Credit Facility [Line Items]                            
Maximum borrowing capacity 204,000                          
Mortgage Warehouse Agreement                            
Line of Credit Facility [Line Items]                            
Available borrowing capacity 1,900                          
Maximum borrowing capacity                         $ 250,000 $ 200,000
Master Repurchase Agreement2                            
Line of Credit Facility [Line Items]                            
Maximum borrowing capacity 150,000               $ 175,000          
Loan and Security Agreement                            
Line of Credit Facility [Line Items]                            
Borrowings available on committed basis $ 50,000                          
April 2023 Master Repurchase Agreement                            
Line of Credit Facility [Line Items]                            
Maximum borrowing capacity               $ 350,000            
Borrowings available on committed basis               $ 100,000            
Ginnie Mae Mortgage Servicing Rights Financing Facility                            
Line of Credit Facility [Line Items]                            
Maximum borrowing capacity                     $ 175,000 $ 150,000    
Borrowings available on committed basis                     $ 50,000      
Ocwen Excess Spread-Collateralized Notes, Series 2019/2022-PLS1 Class A                            
Line of Credit Facility [Line Items]                            
Interest rate (as a percent) 5.07%                 5.114%        
Agency MSR Financing Facility Revolving Loan                            
Line of Credit Facility [Line Items]                            
Prepaid lender fees, net $ 5,400 $ 4,700                        
One Year Swap Rate                            
Line of Credit Facility [Line Items]                            
Basis spread on variable rate 3.48% 0.19%                        
Secured Debt                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity $ 49,525                          
Available borrowing capacity 68,892                          
Other secured borrowings 988,939 $ 901,658                        
Total MSR financing facilities, net $ 987,712 $ 900,760                        
Weighted average interest rate 5.36% 3.71%                        
Unamortized debt issuance costs $ (1,227) $ (898)                        
Secured Debt | August 2022 Master Repurchase Agreement                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 115,000                          
Available borrowing capacity 71,047                          
Other secured borrowings 88,953 109,437                        
Secured Debt | December 2022 Master Repurchase Agreement                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 250,000                          
Available borrowing capacity 112,213                          
Other secured borrowings 87,787 160,882                        
Secured Debt | Master Repurchase Agreement                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 50,000                          
Available borrowing capacity 0                          
Other secured borrowings 0 0                        
Secured Debt | Participation Agreement                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 150,000                          
Available borrowing capacity 0                          
Other secured borrowings $ 0 45,186                        
Beneficial interest 100.00%                          
Secured Debt | June 2023 Master Repurchase Agreement                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity $ 0                          
Available borrowing capacity 42,415                          
Other secured borrowings 130,585 1,766                        
Secured Debt | June 2023 Master Repurchase Agreement2                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 0                          
Available borrowing capacity 1,000                          
Other secured borrowings 0 0                        
Secured Debt | March 2023 Mortgage Warehouse Agreement                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 0                          
Available borrowing capacity 36,742                          
Other secured borrowings 13,258 11,792                        
Secured Debt | March 2023 Mortgage Warehouse Agreement2                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 146,523                          
Available borrowing capacity 0                          
Other secured borrowings 57,477 87,813                        
Secured Debt | Mortgage Warehouse Agreement                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 200,764                          
Available borrowing capacity 0                          
Other secured borrowings 29,236 192,023                        
Secured Debt | Master Repurchase Agreement2                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 0                          
Available borrowing capacity 0                          
Other secured borrowings 126,098 459,344                        
Secured Debt | Loan and Security Agreement                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 0                          
Available borrowing capacity 25,133                          
Other secured borrowings 24,867 16,834                        
Secured Debt | April 2023 Master Repurchase Agreement                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 128,993                          
Available borrowing capacity 0                          
Other secured borrowings 221,007 0                        
Secured Debt | Agency Mortgage Servicing Rights Financing Facility                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 0                          
Available borrowing capacity 60,963                          
Other secured borrowings 389,037 317,523                        
Maximum borrowing capacity 450,000     $ 350,000                    
Secured Debt | Ginnie Mae Mortgage Servicing Rights Financing Facility                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 49,525                          
Available borrowing capacity 0                          
Other secured borrowings 125,475 131,694                        
Secured Debt | Ocwen Excess Spread-Collateralized Notes, Series 2019/2022-PLS1 Class A                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 0                          
Available borrowing capacity 0                          
Other secured borrowings 67,131 41,663                        
Debt instrument, face amount 100,000                 $ 75,000        
Secured Debt | OASIS Series 2014-1                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 0                          
Available borrowing capacity 0                          
Other secured borrowings 36,047 39,529                        
Secured Debt | Agency MSR Financing Facility Revolving Loan                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 0                          
Available borrowing capacity 7,929                          
Other secured borrowings 277,071 277,071                        
Maximum borrowing capacity 285,000                          
Secured Debt | Agency MSR Financing Facility Term Loan                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity 0                          
Available borrowing capacity 0                          
Other secured borrowings 94,178 $ 94,178                        
Maximum borrowing capacity 94,200                          
Debt instrument, face amount $ 135,000                          
Secured Debt | Secured Overnight Financing Rate (SOFR) | Master Repurchase Agreement                            
Line of Credit Facility [Line Items]                            
Debt instrument, base rate 0.0025                          
EBO Advance Facility                            
Line of Credit Facility [Line Items]                            
Available borrowing capacity $ 18,509                          
Maximum borrowing capacity 20,000           $ 20,000              
MSR financing facilities                            
Line of Credit Facility [Line Items]                            
Available borrowing capacity $ 10,600                          
OASIS Series 2014-1                            
Line of Credit Facility [Line Items]                            
Basis spread on variable rate 0.21%                          
Mortgage loan warehouse facilities                            
Line of Credit Facility [Line Items]                            
Weighted average interest rate 3.25% 2.61%                        
Interest rate (as a percent)   3.25%                        
Prepaid lender fees, net $ 1,100 $ 1,200                        
Basis spread on variable rate 1.69% 0.55%                        
Mortgage loan warehouse facilities | London Interbank Offered Rate (LIBOR)                            
Line of Credit Facility [Line Items]                            
Basis spread on variable rate 1.79% 0.10%                        
Mortgage loan warehouse facilities | Secured Debt                            
Line of Credit Facility [Line Items]                            
Uncommitted available borrowing capacity $ 1,041,280                          
Available borrowing capacity 288,549                          
Other secured borrowings $ 779,270 $ 1,085,076