XML 73 R59.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Fair Value - Schedule of Reconciliation of Changes in Fair Value of Level 3 Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023
Purchases, issuances, sales and settlements |  |  |  |
Advances (capitalization upon Ginnie Mae modifications) | $ 2,800 | $ 1,700 | $ 4,900 | $ 3,700
Total realized and unrealized gains and (losses): |  |  |  |
Gains (losses) on derivatives | (46,700) | (47,400) | (96,000) | (44,000)
Forward loans IRLCs |  |  |  |
Total realized and unrealized gains and (losses): |  |  |  |
Gains (losses) on derivatives | (900) | (3,400) | (1,500) | 2,100
Level 3 | Loans Held for Sale - Fair Value |  |  |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Beginning balance | 284,000 | 23,300 | 203,100 | 32,100
Purchases, issuances, sales and settlements |  |  |  |
Purchases and other | 80,500 | 240,400 | 225,500 | 252,800
Sales | (38,700) | (38,500) | (76,700) | (58,700)
Settlements (2) | (25,100) | (25,800) | (47,300) | (25,800)
Loans held for investment, at fair value | 800 | 1,500 | 1,900 | 1,500
Receivables, net | (7,600) | (15,600) | (18,200) | (16,100)
Advances (capitalization upon Ginnie Mae modifications) | (2,800) | (1,700) | (4,900) | 1,700
Other |  | 2,800 |  | (2,800)
Purchases, issuances, sales and settlements, total | 8,300 | 159,500 | 82,800 | 151,300
Total realized and unrealized gains and (losses): |  |  |  |
Change in fair value included in earnings | 4,400 | 14,600 | 10,900 | 14,000
Ending balance | 296,700 | 197,400 | 296,700 | 197,400
REO (Other assets) | (4,300) | (7,100) | (7,300) | (7,100)
Level 3 | ESS Financing Liability |  |  |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Beginning balance | (253,400) | (263,100) | (248,900) | (199,000)
Purchases, issuances, sales and settlements |  |  |  |
Issuances |  | 0 | 0 | (68,700)
Settlements (2) | 7,000 | 8,100 | 14,400 | 14,900
Purchases, issuances, sales and settlements, total | 7,000 | 8,200 | 14,400 | (53,800)
Total realized and unrealized gains and (losses): |  |  |  |
Change in fair value included in earnings | (4,100) | (3,600) | (16,000) | (5,600)
Ending balance | (250,500) | (258,500) | (250,500) | (258,500)
Level 3 | IRLCs |  |  |  |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |  |  |  |
Beginning balance | 5,000 | 4,800 | 5,600 | (700)
Purchases, issuances, sales and settlements |  |  |  |
Issuances | 4,000 | 4,400 | 21,200 | 10,100
Loans held for sale, at fair value | 8,600 | (10,800) | 2,800 | (31,200)
Purchases, issuances, sales and settlements, total | 12,600 | (6,500) | 24,000 | (21,000)
Total realized and unrealized gains and (losses): |  |  |  |
Change in fair value included in earnings | (13,500) | 3,000 | (25,500) | 23,100
Ending balance | $ 4,100 | $ 1,400 | $ 4,100 | $ 1,400

X
- Definition Capitalization of advances on Ginnie Mae modifications. + References No definition available. + Details
Name: | onit_CapitalizationOfAdvancesOnGinnieMaeModifications
Namespace Prefix: | onit_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Fair Value Measurement With Unobservable Inputs Reconciliation Asset Transfers Out of Level3 To Loans Held For Investment At Fair Value + References No definition available. + Details
Name: | onit_FairValueMeasurementWithUnobservableInputsReconciliationAssetTransfersOutOfLevel3ToLoansHeldForInvestmentAtFairValue
Namespace Prefix: | onit_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3, Other + References No definition available. + Details
Name: | onit_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3Other
Namespace Prefix: | onit_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition This represents the amount of transfers of financial instrument classified as an asset out of level 3 of the fair value hierarchy to loans held for sale at fair value. + References No definition available. + Details
Name: | onit_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersToLoansHeldForSaleAtFairValue
Namespace Prefix: | onit_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition This represents the amount of transfers of financial instrument classified as an asset out of level 3 of the fair value hierarchy to receivables, net. + References No definition available. + Details
Name: | onit_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersToReceivablesNet
Namespace Prefix: | onit_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition -- None. No documentation exists for this element. -- + References No definition available. + Details
Name: | onit_PurchasesIssuancesSalesAndSettlementsAbstract
Namespace Prefix: | onit_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition -- None. No documentation exists for this element. -- + References No definition available. + Details
Name: | onit_TotalRealizedAndUnrealizedGainsAndLosses2Abstract
Namespace Prefix: | onit_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of increase (decrease) in the fair value of derivatives recognized in the income statement. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (b)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_DerivativeGainLossOnDerivativeNet
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. + References No definition available. + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of gain (loss) recognized in income from asset measured at fair value on recurring basis using unobservable input (level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of issuances of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetIssues
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of purchases of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of purchases, (sales), issuances and (settlements) of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of sale of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSales
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of settlement of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetSettlements
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of transfers of financial instrument classified as an asset out of level 3 of the fair value hierarchy. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Fair value of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_FinancialInstrumentAxis=us-gaap_InterestRateLockCommitmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=onit_LoansHeldForSaleFairValueMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=onit_FinancingLiabilityExcessServicingSpreadMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByLiabilityClassAxis=us-gaap_DerivativeFinancialInstrumentsAssetsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |