XML 48 R38.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Mortgage Servicing (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2022
Transfers and Servicing [Abstract] |
Schedule of Activity Related to MSRs - Fair Value Measurement Method |
MSRs – At Fair Value | Three Months Ended September 30,
2022 |  | 2021
| Agency |  | Non-Agency |  | Total |  | Agency |  | Non-Agency |  | Total
Beginning balance | $ | 1,816,604 |  |  | $ | 669,075 |  |  | $ | 2,485,679 |  |  | $ | 1,408,420 |  |  | $ | 664,098 |  |  | $ | 2,072,518 |
Sales of MSRs | 3 |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | — |
Additions: |  |  |  |  |  |  |  |  |  |  |
Recognized on the sale of residential mortgage loans | 70,225 |  |  | — |  |  | 70,225 |  |  | 66,420 |  |  | — |  |  | 66,420 |
Purchase of MSRs | 75,461 |  |  | — |  |  | 75,461 |  |  | 36,153 |  |  | — |  |  | 36,153 |
Servicing transfers and adjustments (1) | (39,052) |  |  | (83) |  |  | (39,135) |  |  | 17 |  |  | (4,723) |  |  | (4,706) |
Changes in fair value: |  |  |  |  |  |  |  |  |  |  |
Changes in valuation inputs or assumptions | 99,099 |  |  | 91,546 |  |  | 190,645 |  |  | 6,983 |  |  | 67,836 |  |  | 74,819 |
Realization of expected cash flows | (46,891) |  |  | (21,762) |  |  | (68,653) |  |  | (38,186) |  |  | (30,758) |  |  | (68,944) |
Ending balance | $ | 1,975,449 |  |  | $ | 738,776 |  |  | $ | 2,714,225 |  |  | $ | 1,479,807 |  |  | $ | 696,453 |  |  | $ | 2,176,260 |
MSRs – At Fair Value | Nine Months Ended September 30,
2022 |  | 2021
| Agency |  | Non-Agency |  | Total |  | Agency |  | Non-Agency |  | Total
Beginning balance | $ | 1,571,837 |  |  | $ | 678,310 |  |  | $ | 2,250,147 |  |  | $ | 578,957 |  |  | $ | 715,860 |  |  | $ | 1,294,817 |
Sales of MSRs | (149,336) |  |  | (24) |  |  | (149,360) |  |  | — |  |  | — |  |  | — |
Additions: |  |  |  |  |  |  |  |  |  |  |
Recognized on the sale of residential mortgage loans | 176,190 |  |  | — |  |  | 176,190 |  |  | 136,482 |  |  | — |  |  | 136,482 |
Purchase of MSRs | 159,123 |  |  | — |  |  | 159,123 |  |  | 806,469 |  |  | — |  |  | 806,469 |
Servicing transfers and adjustments (1) | (24,331) |  |  | (907) |  |  | (25,238) |  |  | 73 |  |  | (6,913) |  |  | (6,841) |
Changes in fair value: |  |  |  |  |  |  |  |  |  |  |
Changes in valuation inputs or assumptions | 379,530 |  |  | 132,888 |  |  | 512,418 |  |  | 47,132 |  |  | 73,306 |  |  | 120,438 |
Realization of expected cash flows | (137,564) |  |  | (71,491) |  |  | (209,055) |  |  | (89,306) |  |  | (85,800) |  |  | (175,106) |
Ending balance | $ | 1,975,449 |  |  | $ | 738,776 |  |  | $ | 2,714,225 |  |  | $ | 1,479,807 |  |  | $ | 696,453 |  |  | $ | 2,176,260 |
(1)Servicing transfers and adjustments for the three months ended September 30, 2022 include a $39.0 million derecognition of MSRs previously sold to MAV in a transaction which did not qualify for sale accounting treatment. We derecognized the MSRs with a UPB of $2.9 billion from our balance sheet upon the sale of the MSRs by MAV to a third party in the three months ended September 30, 2022. See Note 8 — MSR Transfers Not Qualifying for Sale Accounting for further information.
Financing Receivable, Past Due | The following table summarizes delinquency status of the loans underlying our MSRs:
| September 30, 2022 |  | December 31, 2021
Delinquent loans | Agency |  | Non - Agency |  | Total |  | Agency |  | Non - Agency |  | Total
30 days | 1.5 | % |  | 7.6 | % |  | 4.3 | % |  | 1.4 | % |  | 7.2 | % |  | 4.1 | %
60 days | 0.4 |  |  | 2.9 |  |  | 1.5 |  |  | 0.4 |  |  | 2.8 |  |  | 1.6 |
90 days or more | 1.2 |  |  | 8.2 |  |  | 4.4 |  |  | 1.9 |  |  | 8.0 |  |  | 4.8 |
Total 30-60-90 days or more | 3.1 | % |  | 18.7 | % |  | 10.2 | % |  | 3.7 | % |  | 18.0 | % |  | 10.5 | %
Schedule of Composition of Servicing UPB |
| September 30, 2022 |  | December 31, 2021 |  | September 30, 2021
| Fair Value | UPB |  | Fair Value | UPB |  | Fair Value | UPB
Owned MSRs | $ | 1,742,978 |  | $ | 123,440,335 |  |  | $ | 1,422,546 |  | $ | 127,919,800 |  |  | $ | 1,457,347 |  | $ | 136,316,900 |
Rithm transferred MSRs (1) (2) | 604,654 |  | 48,354,675 |  |  | 558,940 |  | 53,652,843 |  |  | 574,020 |  | 56,141,289 |
MAV transferred MSRs (1) | 366,593 |  | 26,194,483 |  |  | 268,661 |  | 24,018,904 |  |  | 144,893 |  | 13,570,892 |
Total | $ | 2,714,225 |  | $ | 197,989,493 |  |  | $ | 2,250,147 |  | $ | 205,591,547 |  |  | $ | 2,176,260 |  | $ | 206,029,081 |
(1)MSRs subject to sale agreements with Rithm and MAV that do not meet sale accounting criteria. During the nine months ended September 30, 2022 , we transferred MSRs with a UPB of $7.1 billion to MAV. See Note 8 — MSR Transfers Not Qualifying for Sale Accounting. (2)At September 30, 2022, the UPB of MSRs transferred to Rithm for which title is retained by Ocwen was $11.0 billion and the UPB of MSRs transferred to Rithm for which title has passed was $37.3 billion.
Schedule of Components of Servicing and Subservicing Fees |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
2022 |  | 2021 |  | 2022 |  | 2021
Loan servicing and subservicing fees |  |  |  |  |  |  |
Servicing | $ | 83,348 |  |  | $ | 103,094 |  |  | $ | 252,773 |  |  | $ | 246,363 |
Subservicing | 18,858 |  |  | 2,867 |  |  | 53,890 |  |  | 8,971 |
MAV (1) | 19,275 |  |  | 1,575 |  |  | 54,735 |  |  | 1,575 |
Rithm (1) | 63,362 |  |  | 75,034 |  |  | 195,237 |  |  | 233,135 |
| 184,844 |  |  | 182,570 |  |  | 556,635 |  |  | 490,044 |
Ancillary income |  |  |  |  |  |  |
Late charges | 10,559 |  |  | 10,656 |  |  | 32,317 |  |  | 31,335 |
Reverse subservicing ancillary fees | 4,918 |  |  | — |  |  | 14,308 |  |  | — |
Recording fees | 1,819 |  |  | 3,726 |  |  | 7,693 |  |  | 10,579 |
Loan collection fees | 2,644 |  |  | 2,858 |  |  | 8,463 |  |  | 8,568 |
Boarding and deboarding fees | 769 |  |  | 1,627 |  |  | 4,394 |  |  | 6,830 |
Custodial accounts (float earnings) | 7,521 |  |  | 1,234 |  |  | 10,307 |  |  | 3,547 |
GSE forbearance fees | 219 |  |  | 262 |  |  | 583 |  |  | 1,334 |
Other, net | 2,268 |  |  | 3,652 |  |  | 8,616 |  |  | 10,525 |
| 30,718 |  |  | 24,016 |  |  | 86,681 |  |  | 72,720 |
Total Servicing and subservicing fees | $ | 215,562 |  |  | $ | 206,585 |  |  | $ | 643,316 |  |  | $ | 562,764 |
(1)Includes servicing fees related to transferred MSRs and subservicing fees. See Note 8 — MSR Transfers Not Qualifying for Sale Accounting.

X
- Definition Tabular disclosure of loans serviced by property type. + References No definition available. + Details
Name: | ocn_ScheduleOfLoansServicedByPropertyTypeTableTextBlock
Namespace Prefix: | ocn_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of fees generated during the reporting period for servicing subservicing of assets. + References No definition available. + Details
Name: | ocn_ScheduleOfServicingAndSubservicingFeesTableTextBlock
Namespace Prefix: | ocn_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of aging analysis for financing receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919253-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7A -URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953401-111524 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 55 -Paragraph 80 -URI http://asc.fasb.org/extlink&oid=124267575&loc=SL82922355-210448 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=123577603&loc=d3e5111-111524 + Details
Name: | us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=125521744&loc=d3e122625-111746 + Details
Name: | us-gaap_ScheduleOfServicingAssetsAtFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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