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Employee Compensation and Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Change in Benefit Obligation, Plan Assets and Funded Status for Pension Plans
The following table shows the total change in the benefit obligation, plan assets and funded status for the pension plan(s):
 December 31,
20222021
Projected benefit obligation$40.9 $54.3 
Fair value of plan assets37.5 50.1 
Unfunded status recognized in Other liabilities$(3.4)$(4.2)
Amounts recognized in Accumulated other comprehensive loss$2.2 $2.0 
Change in Benefit Obligation, Plan Assets and Funded Status for Gratuity Plan
The following table shows the total change in the benefit obligation, plan assets and funded status for the Gratuity Plan:
 December 31,
20222021
Benefit obligation$5.9 $6.3 
Fair value of plan assets— — 
Unfunded status recognized in Other liabilities$(5.9)$(6.3)
Schedule of Stock Options Vesting
Outstanding equity awards granted under the 2007 Equity Plan, the 2017 Equity Plan and 2021 Equity Incentive Plan had the following characteristics in common:
Type of AwardPercent of Total Equity AwardVesting Period
2014 Awards:
Options:
Servicing Condition - Time-based25 %
Ratably over four years (25% on each of the four anniversaries of the grant date)
Market Condition:
Market performance-based50 
Over three years beginning with 25% vesting on the date that the stock price has at least doubled over the exercise price and the compounded annual gain over the exercise price is at least 20% and then ratably over three years (25% on each of the next three anniversaries of the achievement of the market condition)
Extraordinary market performance-based25 
Over three years beginning with 25% vesting on the date that the stock price has at least tripled over the exercise price and the compounded annual gain over the exercise price is at least 25% and then ratably over three years (25% on each of the next three anniversaries of the achievement of the market condition)
Total Award100 %
2015 - 2022 Awards:
Options:
Service Condition - Time-based1 %
Ratably over four years (25% vesting on each of the first four anniversaries of the grant date.)
Service Condition - Time-based4 
Ratably over three years (one-third vesting on each of the first three anniversaries of the grant date).
Stock Units:
Service Condition - Time-based35 
Ratably over three years with one-third vesting on each of the first three anniversaries of the grant date.
Service Condition - Time-based8 
Ratably over four years with 25% vesting on each of the first four anniversaries of the grant date.
Market Condition:
Time-based vesting schedule and Market performance-based vesting date52 
Cliff-vest 100% after three years. Vesting of units credited based on Total Shareholder Return (TSR) for any performance period is subject to continued service through the third anniversary of the grant. There is no interim or ratable vesting. The number of performance-based awards that will vest is determined by Ocwen’s TSR, either absolute or relative to a performance peer group, during each performance period.
Total Award100 %
Schedule of Stock Option Activity
Years Ended December 31,
Stock Options 202220212020
 Number of
Options		Weighted
Average
Exercise
Price		Number of
Options		Weighted
Average
Exercise
Price		Number of
Options		Weighted
Average
Exercise
Price
Outstanding at beginning of year114,658 $281.89 124,866 $274.30 131,962 $282.30 
Granted— — — — — — 
Exercised— — — — — — 
Forfeited / Expired (1)(75,501)354.83 (10,208)189.00 (7,096)423.80 
Outstanding at end of year (2)(3)
39,157 $141.27 114,658 $281.89 124,866 $274.30 
Exercisable at end of year (2)(3)(4)34,657 $94.46 108,754 $273.97 110,484 $283.08 
 
(1)Includes 74,834 and 10,208 options which expired unexercised in 2022 and 2021, respectively, because their exercise price was greater than the market price of Ocwen’s stock.
(2)At December 31, 2022, 4,500 options with a market condition for vesting based on an average common stock trading price of $501.75, had not met their performance criteria. Outstanding and exercisable stock options at December 31, 2022 have a net aggregate intrinsic value of $0.0 million. A total of 4,500 market-based options were outstanding at December 31, 2022, of which none were exercisable.
(3)At December 31, 2022, the weighted average remaining contractual term of options outstanding and options exercisable was 3.56 years and 3.84 years, respectively.
(4)The total fair value of stock options that vested and became exercisable during 2022, 2021 and 2020, based on grant-date fair value, was $0.0 million, $0.3 million and $0.3 million, respectively.
Schedule of Stock Unit Activity
Stock Units - Equity-Classified AwardsYears Ended December 31,
202220212020
 Number of
Stock Units		Weighted
Average
Grant Date Fair Value		Number of
Stock Units		Weighted
Average
Grant Date Fair Value		Number of
Stock Units		Weighted
Average
Grant Date Fair Value
Unvested at beginning of year416,226 $25.97 261,647 $21.74 177,275 $39.45 
Granted (1) (2)373,614 28.43 236,593 33.50 150,000 8.78 
Vested (3)(4)(109,077)23.11 (71,855)33.43 (62,954)42.25 
Forfeited/Cancelled (5)(76,874)32.42 (10,159)39.74 (2,674)26.85 
Unvested at end of year (6)(7)603,889 $27.19 416,226 $25.97 261,647 $21.74 
(1)Stock units granted in 2022, 2021 and 2020 include 147,058, 115,173 and 150,000 units, respectively, granted to Ocwen’s CEO under the long-term incentive (LTI) program. Stock units granted in 2022 and 2021 include 13,091 and 4,623 units, respectively, added for performance factor related to awards under LTI program. Stock units granted in 2022 includes 436 units reclassified from liability-classified awards.
(2)Includes 57,187 one-time equity settled awards granted in 2022 to certain employees in connection with their employment, of which 51,546 vest ratably over four years (25% vesting on each of the first four anniversaries of the grant date) and 5,641 awards vest ratably over four years (one-third vesting on each of the first three anniversaries of the grant date). Stock units granted in 2021 includes 117,233 hybrid awards granted to certain Ocwen executives.
(3)The total intrinsic value of stock units vested, which is defined as the weighted market value of the stock on the date of vesting, was $2.2 million, $2.1 million and $1.0 million for 2022, 2021 and 2020, respectively.
(4)The total fair value of the stock units that vested during 2022, 2021 and 2020, based on grant-date fair value, was $2.5 million, $2.4 million and $2.7 million, respectively.
(5)Stock units forfeited/cancelled in 2022 includes 42,885 units forfeited due to market-based performance under the LTI program.
(6)Excluding the 327,603 market-based stock awards that have not met their market-based performance criteria (and time-vesting requirements, where applicable), the net aggregate intrinsic value of stock awards outstanding at December 31, 2022 was $8.5 million. At December 31, 2022, the market-based performance for 327,603 stock units is measured based on TSR relative to Ocwen’s compensation peer group TSR over the four performance periods.
(7)At December 31, 2022, the weighted average remaining contractual term of share units outstanding was 2.1 years.
Stock Units Liability Awards
Years Ended December 31,
Stock Units - Liability-Classified Awards202220212020
Unvested units at beginning of year758,626 728,373 243,441 
Granted (1)246,018 233,056 601,787 
Vested(191,728)(105,974)(21,909)
Forfeited/Cancelled (2)(204,158)(111,507)(94,954)
Other (3)11,801 14,678 8 
Unvested units at end of year620,559 758,626 728,373 
(1)Awards granted in 2020 include 57,891 one-time time-based long-term incentive awards to certain Ocwen executives with a vesting period of 18 months from the date of grant, subject to continued employment and other conditions.
(2)Units forfeited/cancelled in 2022, 2021 and 2020 include 105,552, 35,000 and 36,898 units, respectively, forfeited due to market-based performance under the LTI program.
(3)Includes 12,204 and 14,681 units added during 2022 and 2021, respectively, as a result of market-based performance, and 8 shares added in 2020 representing the conversion of fractional stock units on the reverse stock split.
Schedule of Assumptions used to Value Stock Option Awards Granted
The following assumptions were used to value awards:
Monte Carlo202220212020
Risk-free interest rate
1.31% - 4.66%
0.01% - 0.77%
0.08% – 0.29%
Expected stock price volatility (1)
93.8% - 94.7%
95% - 96.4%
88.7% - 94.1%
Expected dividend yield
—%—%—%
Expected life (in years) (2)(2)(2)
Fair value
$26.53 - $50.99
$36.09 - $62.03
$24.36 - $38.75
(1)We generally estimate volatility based on the historical volatility of Ocwen’s common stock over the most recent period that corresponds with the estimated expected life of the option. For awards valued using a Monte Carlo simulation, volatility is computed as a blend of historical volatility based on daily stock price returns and implied volatility based on traded options on Ocwen’s common stock.
(2)The stock units that contain both a service condition and a market-based condition are valued using the Monte Carlo simulation. The expected term is derived from the output of the simulation and represents the expected time to meet the market-based vesting condition. For equity awards with both service and market conditions, the requisite service period is the longer of the derived or explicit service period. In this case, the explicit service condition (vesting period) is the requisite service period, and the graded vesting method is used for expense recognition.
Schedule of Equity-based Compensation Expense Related to Stock Options and Stock Awards and Related Excess Tax Benefit
The following table summarizes Ocwen's stock-based compensation expense included as a component of Compensation and benefits expense in the consolidated statements of operations:
Years Ended December 31,
 202220212020
Compensation expense - Equity-classified awards
Stock option awards$(0.1)$0.3 $(0.4)
Stock awards4.7 4.5 2.8 
 $4.6 $4.7 $2.4 
Compensation expense - Liability-classified awards$2.2 $15.1 $5.6 
Excess tax benefit (tax deficiency) related to share-based awards$0.4 $0.5 $(0.4)