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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue      
Servicing and subservicing fees $ 947,300 $ 862,600 $ 781,900
Gain on reverse loans held for investment and HMBS-related borrowings, net 46,700 36,100 79,700
Gain on loans held for sale, net 40,600 22,000 145,800
Other revenue, net 32,000 33,200 42,700
Total revenue 1,066,700 953,900 1,050,100
MSR valuation adjustments, net (232,200) (10,400) (98,500)
Operating expenses      
Compensation and benefits 229,200 289,400 297,900
Servicing and origination 57,300 64,900 113,600
Professional services 22,300 49,300 81,900
Technology and communications 52,500 57,900 56,000
Occupancy, equipment and mailing 31,800 41,800 36,500
Other expenses 19,000 29,100 23,300
Total operating expenses 412,100 532,400 609,300
Other income (expense)      
Interest income 78,000 45,600 26,400
Interest expense ($43.8, $42.1 and $31.7 due to related parties) (273,600) (186,000) (144,000)
Pledged MSR liability expense ($57.5, $59.1 and $16.6 due to related party) (296,300) (255,000) (221,300)
Gain (loss) on extinguishment of debt 1,300 900 (15,500)
Earnings of equity method investee 7,300 18,500 3,600
Other, net 2,800 (10,200) 4,100
Other income (expense), net (480,500) (386,200) (346,700)
Income (loss) before income taxes (58,100) 24,900 (4,400)
Income tax expense (benefit) 5,600 (800) (22,400)
Net income (loss) $ (63,700) $ 25,700 $ 18,100
Earnings (loss) per share attributable to Ocwen stockholders - Basic and Diluted      
Basic $ (8.34) $ 2.97 $ 2.00
Diluted $ (8.34) $ 2.85 $ 1.93
Weighted average common shares outstanding      
Basic (in shares) 7,635,584 8,647,399 9,021,975
Diluted (in shares) 7,635,584 8,997,306 9,382,467