Onity (ONIT) 10-Q 6 Aug 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 01, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Ocwen Financial Corporation
Entity Central Index Key	0000873860
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		134,595,798

UNAUDITED CONSOLIDATED BALANCE

UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018
Assets
Cash		$ 287,724	$ 329,132
Restricted cash (amounts related to variable interest entities (VIEs) of $15,489 and $20,968)		60,708	67,878
Mortgage servicing rights (MSRs), at fair value		1,312,633	1,457,149
Advances, net		229,167	249,382
Match funded advances (related to VIEs)		875,332	937,294
Loans held for sale ($135,691 and $176,525 carried at fair value)		196,071	242,622
Loans held for investment, at fair value (amounts related to VIEs of $25,324 and $26,520)		5,897,731	5,498,719
Receivables, net		187,985	198,262
Premises and equipment, net		57,598	33,417
Other assets ($7,760 and $7,568 carried at fair value)(amounts related to VIEs of $1,418 and $2,874)		522,844	379,567
Assets related to discontinued operations		0	794
Total assets		9,627,793	9,394,216
Liabilities
Home Equity Conversion Mortgage-Backed Securities (HMBS) related borrowings, at fair value	[1]	5,745,383	5,380,448
Match funded liabilities (related to VIEs)		671,796	778,284
Other financing liabilities ($868,610 and $1,057,671 carried at fair value) (amounts related to VIEs of $23,697 and $24,815)		931,451	1,127,613
Other secured borrowings, net		516,481	382,538
Senior notes, net		447,577	448,727
Other liabilities ($3,934 and $4,986 carried at fair value)		892,211	703,636
Liabilities related to discontinued operations		0	18,265
Total liabilities		9,204,899	8,839,511
Commitments and Contingencies (Notes 20 and 21)
Ocwen Financial Corporation (Ocwen) stockholders’ equity
Common stock, $.01 par value; 200,000,000 shares authorized; 134,595,798 and 133,912,425 shares issued and outstanding at June 30, 2019 and December 31, 2018 respectively		1,346	1,339
Additional paid-in capital		555,696	554,056
(Accumulated deficit) retained earnings		(130,648)	3,567
Accumulated other comprehensive loss, net of income taxes		(3,500)	(4,257)
Total stockholders’ equity		422,894	554,705
Total liabilities and stockholders’ equity		$ 9,627,793	$ 9,394,216
[1]	Represents amounts due to the holders of beneficial interests in Ginnie Mae guaranteed HMBS. The beneficial interests have no maturity dates, and the borrowings mature as the related loans are repaid.

UNAUDITED CONSOLIDATED BALANC_2

UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019		Dec. 31, 2018
Restricted cash, amounts related to VIEs	$ 15,489		$ 20,968
Loans held for sale, at fair value	135,691	[1]	176,525
Loans held for investment, at fair value	5,897,731		5,498,719
Other assets, at fair value	7,760		7,568
Other assets, amounts related to VIEs	1,418		2,874
Other financing liabilities	931,451		1,127,613
Other financing liabilities, at fair value	868,610		1,057,671
Other liabilities, at fair value	$ 3,934		$ 4,986
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Common stock, shares authorized (in shares)	200,000,000		200,000,000
Common stock, shares issued (in shares)	134,595,798		133,912,425
Common stock, shares outstanding (in shares)	134,595,798		133,912,425
Residential Mortgage Backed Securitization Trusts [Member]
Loans held for investment, at fair value	$ 25,324		$ 26,520
Other financing liabilities	$ 23,697		$ 24,815
[1]	At June 30, 2019 and 2018, the balances include fair value adjustments of $(7.5) million and $(5.9) million, respectively.

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019		Jun. 30, 2018
Revenue
Servicing and subservicing fees		$ 239,182	$ 222,227	$ 495,045		$ 444,365
Gain on loans held for sale, net		15,075	24,393	32,670		44,193
Other revenue, net		20,081	6,961	50,511		25,280
Total revenue		274,338	253,581	578,226		513,838
Expenses
MSR valuation adjustments, net		147,268	33,118	256,266		50,247
Compensation and benefits		82,283	69,838	176,979		147,913
Servicing and origination		21,510	28,276	50,208		59,694
Technology and communications		20,001	23,906	44,436		46,709
Occupancy and equipment		18,699	12,859	35,288		25,473
Professional services		37,136	32,389	40,577		70,159
Other expenses		4,597	5,264	7,845		11,956
Total expenses	[1]	331,494	205,650	611,599	[2]	412,151
Other income (expense)
Interest income		3,837	3,355	8,395		6,055
Interest expense		(31,571)	(77,503)	(102,016)		(128,313)
Bargain purchase gain		(96)	0	(381)		0
Other, net		653	(2,188)	1,958		(2,869)
Total other expense, net		(27,177)	(76,336)	(92,044)		(125,127)
Loss before income taxes		(84,333)	(28,405)	(125,417)		(23,440)
Income tax expense		5,404	1,348	8,814		3,696
Net loss		(89,737)	(29,753)	(134,231)		(27,136)
Net income attributable to non-controlling interests		0	(78)	0		(147)
Net loss attributable to Ocwen stockholders		$ (89,737)	$ (29,831)	$ (134,231)		$ (27,283)
Loss per share attributable to Ocwen stockholders
Basic and Diluted (in USD per share)		$ (0.67)	$ (0.22)	$ (1)		$ (0.20)
Weighted average common shares outstanding
Basic and Diluted (in shares)		134,465,741	133,856,132	134,193,874		133,490,828
[1]	Compensation and benefits expense in the Corporate Items and Other segment for the three and six months ended June 30, 2019 and 2018 includes $0.8 million and $19.2 million, and $1.6 million, and $7.3 million, respectively, of severance expense attributable to PHH integration-related headcount reductions of primarily U.S.-based employees in 2019 and headcount reductions in connection with our strategic decisions to exit the automotive capital services business and the forward lending correspondent and wholesale channels in late 2017 and early 2018, as well as our overall efforts to reduce costs.
[2]	Included in the Corporate Items and Other segment for the six months ended June 30, 2019, we recorded in Professional services expense a recovery from a service provider of $30.7 million during the first quarter of 2019 of amounts previously recognized as expense.

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net loss		$ (89,737)	$ (29,753)	$ (134,231)	$ (27,136)
Other comprehensive income, net of income taxes:
Reclassification adjustment for losses on cash flow hedges included in net income	[1]	36	37	70	78
Change in unfunded pension plan obligation liability		337	0	674	0
Other		7	0	13	0
Comprehensive loss		(89,357)	(29,716)	(133,474)	(27,058)
Comprehensive income attributable to non-controlling interests		0	(78)	0	(147)
Comprehensive loss attributable to Ocwen stockholders		$ (89,357)	$ (29,794)	$ (133,474)	$ (27,205)
[1]	These losses are reclassified to Other, net in the unaudited consolidated statements of operations.

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]		AOCI Attributable to Parent [Member]	Non-controlling Interest in Subsidiaries [Member]
Beginning Balance at Dec. 31, 2017	$ 546,874	$ 1,315	$ 547,057	$ (2,083)		$ (1,249)	$ 1,834
Beginning Balance (in shares) at Dec. 31, 2017		131,484,058
Net loss	(27,136)			(27,283)			147
Issuance of common stock	5,719	$ 19	5,700
Issuance of common stock (in shares)		1,875,000
Cumulative effect of fair value election - Mortgage servicing rights	82,043			82,043
Cumulative effect of adoption of FASB Accounting Standards Update No. 2016-16	(5,621)			(5,621)
Capital distribution to non-controlling interest	(822)						(822)
Equity-based compensation and other	48	$ 5	43
Equity-based compensation and other (in shares)		553,367
Other comprehensive income, net of income taxes	78					78
Ending Balance at Jun. 30, 2018	601,183	$ 1,339	552,800	47,056		(1,171)	1,159
Ending Balance (in shares) at Jun. 30, 2018		133,912,425
Beginning Balance at Mar. 31, 2018	632,342	$ 1,334	553,426	76,887		(1,208)	1,903
Beginning Balance (in shares) at Mar. 31, 2018		133,405,585
Net loss	(29,753)			(29,831)			78
Capital distribution to non-controlling interest	(822)						(822)
Equity-based compensation and other	(621)	$ 5	(626)
Equity-based compensation and other (in shares)		506,840
Other comprehensive income, net of income taxes	37					37
Ending Balance at Jun. 30, 2018	601,183	$ 1,339	552,800	47,056		(1,171)	1,159
Ending Balance (in shares) at Jun. 30, 2018		133,912,425
Beginning Balance at Dec. 31, 2018	$ 554,705	$ 1,339	554,056	3,567		(4,257)	0
Beginning Balance (in shares) at Dec. 31, 2018	133,912,425	133,912,425
Net loss	$ (134,231)			(134,231)			0
Cumulative effect of adoption of FASB Accounting Standards Update No. 2016-02	16			16	[1]
Equity-based compensation and other	1,647	$ 7	1,640
Equity-based compensation and other (in shares)		683,373
Other comprehensive income, net of income taxes	757					757
Ending Balance at Jun. 30, 2019	$ 422,894	$ 1,346	555,696	(130,648)		(3,500)	0
Ending Balance (in shares) at Jun. 30, 2019	134,595,798	134,595,798
Beginning Balance at Mar. 31, 2019	$ 511,594	$ 1,339	555,046	(40,911)		(3,880)	0
Beginning Balance (in shares) at Mar. 31, 2019		133,946,055
Net loss	(89,737)			(89,737)
Equity-based compensation and other	657	$ 7	650
Equity-based compensation and other (in shares)		649,743
Other comprehensive income, net of income taxes	380					380
Ending Balance at Jun. 30, 2019	$ 422,894	$ 1,346	$ 555,696	$ (130,648)		$ (3,500)	$ 0
Ending Balance (in shares) at Jun. 30, 2019	134,595,798	134,595,798
[1]	ROU assets as of January 1, 2019 after transition adjustments includes $30.4 million related to premises located in the U.S., $13.6 million related to premises located in India and the Philippines, and $0.7 million related to equipment.

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Net loss		$ (134,231)	$ (27,136)
Adjustments to reconcile net loss to net cash provided by operating activities:
MSR valuation adjustments, net		256,266	50,247
Gain on sale of MSRs, net		(869)	(1,036)
Provision for bad debts		17,158	25,879
Depreciation		19,563	12,640
Equity-based compensation expense		1,664	772
Gain on valuation of financing liability		(76,981)	(8,642)
Net gain on valuation of mortgage loans held for investment and HMBS-related borrowings		(37,201)	(7,930)
Gain on loans held for sale, net		(19,887)	(16,744)
Bargain purchase gain		381	0
Origination and purchase of loans held for sale		(501,696)	(838,581)
Proceeds from sale and collections of loans held for sale		513,706	800,982
Changes in assets and liabilities:
Decrease in advances and match funded assets		91,679	182,481
Decrease in receivables and other assets, net		79,931	86,606
Decrease in other liabilities		(79,753)	(68,556)
Other, net		(927)	5,588
Net cash provided by operating activities		128,803	196,570
Cash flows from investing activities
Origination of loans held for investment		(427,021)	(487,472)
Principal payments received on loans held for investment		232,514	186,216
Purchase of MSRs		(99,382)	0
Proceeds from sale of MSRs		1,401	224
Proceeds from sale of advances		2,132	4,726
Issuance of automotive dealer financing notes		0	(19,642)
Collections of automotive dealer financing notes		0	52,581
Additions to premises and equipment		(1,133)	(6,398)
Other, net		3,700	3,577
Net cash used in investing activities		(287,789)	(266,188)
Cash flows from financing activities
Repayment of match funded liabilities, net		(106,488)	(247,924)
Proceeds from mortgage loan warehouse facilities and other secured borrowings		1,137,418	1,546,226
Repayment of mortgage loan warehouse facilities and other secured borrowings		(1,222,471)	(1,812,568)
Proceeds from issuance of additional senior secured term loan (SSTL)		119,100	0
Repayment of SSTL borrowings		(12,716)	(58,375)
Payment of debt issuance costs related to SSTL		(1,284)	0
Proceeds from sale of MSRs accounted for as a financing		876	279,586
Proceeds from sale of Home Equity Conversion Mortgages (HECM, or reverse mortgages) accounted for as a financing (HMBS-related borrowings)		425,106	499,576
Repayment of HMBS-related borrowings		(228,015)	(181,548)
Capital distribution to non-controlling interest		0	(822)
Other, net		(1,118)	(991)
Net cash provided by financing activities		110,408	23,160
Net decrease in cash and restricted cash		(48,578)	(46,458)
Cash and restricted cash at beginning of year		397,010	302,560
Cash and restricted cash at end of period		348,432	256,102
Supplemental non-cash investing and financing activities
Issuance of common stock in connection with litigation settlement	[1]	0	5,719
Right-of-use asset			0
Lease liability		66,247	0
Transfers of loans held for sale to real estate owned (REO)		3,153	$ 1,358
Premises and Equipment [Member]
Supplemental non-cash investing and financing activities
Right-of-use asset		$ 66,231
[1]	In January 2018, Ocwen issued 1,875,000 shares of common stock in connection with a securities litigation settlement.

UNAUDITED CONSOLIDATED STATEM_5

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Statement of Cash Flows [Abstract]
Cash	$ 287,724	$ 228,412
Restricted cash and equivalents:
Debt service accounts	19,588	24,278
Other restricted cash	41,120	3,412
Total cash and restricted cash reported in the statements of cash flows	$ 348,432	$ 256,102

Organization, Business Environm

Organization, Business Environment and Basis of Presentation	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Business Environment and Basis of Presentation	Note 1 – Organization, Business Environment and Basis of Presentation Organization Ocwen Financial Corporation (NYSE: OCN) (Ocwen, we, us and our) is a non-bank mortgage servicer and originator providing solutions through its primary operating subsidiaries, PHH Mortgage Corporation (PMC) and Liberty Home Equity Solutions, Inc. (Liberty). We are headquartered in West Palm Beach, Florida with offices in the United States (U.S.) and the United States Virgin Islands (USVI) and operations in India and the Philippines. Ocwen is a Florida corporation organized in February 1988. Ocwen directly or indirectly owns all of the outstanding stock of its operating subsidiaries: PMC, Liberty and Ocwen Financial Solutions Private Limited (OFSPL). Ocwen also owns all of the common stock of Ocwen Mortgage Servicing, Inc. (OMS). We perform servicing activities on behalf of other servicers (subservicing), the largest being New Residential Investment Corp. (NRZ), and investors (primary and master servicing), including the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) (collectively, the GSEs), the Government National Mortgage Association (Ginnie Mae) and private-label securitizations (non-Agency). As a subservicer or primary servicer, we may be required to make advances for certain property tax and insurance premium payments, default and property maintenance payments and principal and interest payments on behalf of delinquent borrowers to mortgage loan investors before recovering them from borrowers. Most, but not all, of our subservicing agreements provide for us to be reimbursed for any such advances by the owner of the servicing rights. Advances made by us as primary servicer are recovered from the borrower or the mortgage loan investor. As master servicer, we collect mortgage payments from primary servicers and distribute the funds to investors in the mortgage-backed securities. To the extent the primary servicer does not advance the scheduled principal and interest, as master servicer we are responsible for advancing the shortfall, subject to certain limitations. We originate, sell and securitize conventional (conforming to the underwriting standards of Fannie Mae or Freddie Mac; collectively referred to as Agency loans) and government-insured (Federal Housing Administration (FHA) or Department of Veterans Affairs (VA)) forward mortgages. The GSEs or Ginnie Mae guarantee these mortgage securitizations. We originate HECM loans, or reverse mortgages, that are insured by the FHA and are an approved issuer of HMBS that are guaranteed by Ginnie Mae. We had a total of approximately 6,200 employees at June 30, 2019 of which approximately 3,700 were located in India and approximately 500 were based in the Philippines. Our operations in India and the Philippines primarily provide internal support services, principally to our loan servicing business and our corporate functions. Of our foreign-based employees, more than 80% were engaged in supporting our loan servicing operations as of June 30, 2019 . Business Environment We are facing certain challenges and uncertainties that could have significant adverse effects on our business, financial condition, liquidity and results of operations. The ability of management to appropriately address these challenges and uncertainties in a timely manner is critical to our ability to operate our business successfully. Losses have significantly eroded stockholders’ equity and weakened our financial condition. Our near-term priority is to return to profitability in the shortest timeframe possible within an appropriate risk and compliance environment. We believe our acquisition of PHH Corporation (PHH) provided us with the opportunity to transform into a stronger, more efficient company better able to serve our customers and clients, and positioned us to execute on strategies to enable a return to profitability. See Note 2 – Business Acquisition for additional information regarding the acquisition of PHH. Now that we have consummated our acquisition of PHH, if we can execute on our key business initiatives, we believe we will drive stronger financial performance. First, we must successfully execute on the integration of PHH’s business with ours, including a smooth transition onto the Black Knight Financial Services, Inc. (Black Knight) LoanSphere MSP ® servicing system (Black Knight MSP). During the second quarter of 2019, we completed the transfer of the remainder of our portfolio of residential mortgages that were on the REALServicing® servicing system to Black Knight MSP. Second, we must re-engineer our cost structure to go beyond eliminating redundant costs through the integration process. Our cost re-engineering plans address organizational, process and control redesign, human capital planning, off-shore utilization, strategic sourcing and facilities rationalization. As part of our cost re-engineering plans, we expect to reduce total staffing levels significantly and to close a number of our U.S. facilities. We believe these steps are necessary in order to drive stronger financial performance and, in the longer term, simplify our operations. We anticipate that a substantial portion of our expense reductions, and the related re-engineering costs, will be realized in the second half of 2019 now that we have completed the transition onto Black Knight MSP and completed the mergers of two of our primary licensed operating entities into PMC. We successfully completed the first phase of our entity mergers during the first quarter, merging Homeward Residential, Inc. (Homeward) into PMC, with PMC being the surviving corporation. During the second quarter, we successfully completed the second phase of our entity mergers, merging Ocwen Loan Servicing, LLC (OLS) into PMC, with PMC being the surviving corporation. Third, we must manage the size of our servicing portfolio through expanding our lending business and permissible acquisitions of MSRs that are prudent and well-executed with appropriate financial return targets. During the first six months of 2019, we closed MSR acquisitions with $10.8 billion unpaid principal balance (UPB). Fourth, we must ensure that we continue to manage our balance sheet to provide a solid platform for executing on our other key business initiatives. On March 18, 2019, we increased our SSTL by $120.0 million , providing incremental liquidity to address maturing debt assumed in the PHH acquisition. On July 1, 2019, we established a financing facility secured by MSRs that provides up to $300.0 million in committed borrowing capacity. We believe this facility will enable the funding of the majority of our near term MSR acquisition initiatives. See Note 22 – Subsequent Events for additional information regarding this facility. Finally, we must fulfill our regulatory commitments and resolve our remaining legal and regulatory matters on satisfactory terms. Our business, operating results and financial condition have been significantly impacted in recent periods by regulatory actions against us and by significant litigation matters. Should the number or scope of regulatory or legal actions against us increase or expand or should we be unable to reach reasonable resolutions in existing regulatory and legal matters, our business, reputation, financial condition, liquidity and results of operations could be materially and adversely affected, even if we are successful in our ongoing efforts to drive stronger financial performance. See Note 19 – Regulatory Requirements and Note 21 – Contingencies for further information. Our ability to execute on our key initiatives is not certain and is dependent on the successful execution of several complex actions, including our ability to acquire MSRs with appropriate financial return targets, U.S. facilities consolidation and organizational redesign and headcount reductions, as well as the absence of significant unforeseen costs, including regulatory or legal costs, that could negatively impact our cost re-engineering efforts. There can be no assurances that the desired strategic and financial benefits of these actions will be realized. Regarding the current maturities of our borrowings, as of June 30, 2019 we have approximately $827.7 million of debt outstanding under facilities coming due in the next 12 months. Portions of our match funded facilities and all of our mortgage loan warehouse facilities have 364 -day terms consistent with market practice. We have historically renewed these facilities on or before their expiration in the ordinary course of financing our business. We expect to renew, replace or extend all such borrowings to the extent necessary to finance our business on or prior to their respective maturities consistent with our historical experience. Our debt agreements contain various qualitative and quantitative events of default provisions that include, among other things, noncompliance with covenants, breach of representations, or the occurrence of a material adverse change. If a lender were to allege an event of default and we are unable to avoid, remedy or secure a waiver of such alleged default, we could be subject to adverse actions by our lenders that could have a material adverse impact on us. In addition, PMC and Liberty are parties to seller/servicer agreements and/or subject to guidelines and regulations (collectively, seller/servicer obligations) with one or more of the GSEs, the Department of Housing and Urban Development (HUD), FHA, VA and Ginnie Mae. To the extent these requirements are not met or waived, the applicable agency may, at its option, utilize a variety of remedies including requirements to provide certain information or take actions at the direction of the applicable agency, requirements to deposit funds as security for our obligations, sanctions, suspension or even termination of approved seller/servicer status, which would prohibit future originations or securitizations of forward or reverse mortgage loans or servicing for the applicable agency. Any of these actions could have a material adverse impact on us. See Note 13 – Borrowings , Note 19 – Regulatory Requirements and Note 21 – Contingencies for further information. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in conformity with the instructions of the Securities and Exchange Commission (SEC) to Form 10-Q and SEC Regulation S-X, Article 10, Rule 10-01 for interim financial statements. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America (GAAP) for complete financial statements. In our opinion, the accompanying unaudited consolidated financial statements contain all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation. The results of operations and other data for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for any other interim period or for the year ending December 31, 2019 . The unaudited consolidated financial statements presented herein should be read in conjunction with the audited consolidated financial statements and related notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018 . Use of Estimates and Assumptions The preparation of financial statements in conformity with GAAP requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions include, but are not limited to, those that relate to fair value measurements, income taxes, the provision for potential losses that may arise from litigation proceedings, and our going concern evaluation. In developing estimates and assumptions, management uses all available information; however, actual results could materially differ from those estimates and assumptions. Reclassifications Within the Other income (expense) section of the unaudited statement of operations for the three and six months ended June 30, 2018, we reclassified Gain on sale of MSRs, net of $0.1 million and $1.0 million , respectively, to Other, net to conform to the current year presentation. Certain amounts in the unaudited consolidated statement of cash flows for the six months ended June 30, 2018 have been reclassified to conform to the current year presentation as follows: • Within the Cash flows from operating activities section, we reclassified Amortization of debt issuance costs of $1.7 million to Other, net. • Within the Cash flows from financing activities section, we reclassified repayments of the SSTL of $58.4 million from Repayment of mortgage loan warehouse facilities and other secured borrowings to a new separate line item (Repayment of SSTL borrowings). These reclassifications had no impact on our consolidated cash flows from operating, investing or financing activities. Recently Adopted Accounting Standards Leases (ASU 2016-02, ASU 2018-10, ASU 2018-11 and ASU 2019-01) This ASU requires a lessee to recognize right-of-use (ROU) assets and lease liabilities on the balance sheet, regardless of whether the lease is classified as a finance or operating lease. We adopted the new leasing guidance on January 1, 2019, and we elected practical expedients permitted by the new standard which provided us transition relief when assessing leases that commenced prior to the adoption date, including determining whether existing contracts are or contain leases, the classification of such leases as operating or financing, and the accounting for initial direct costs. The adoption resulted in the recognition of a cumulative-effect adjustment to the opening balance of Retained earnings, the recognition of a gross ROU asset and lease liability, and the reclassification of existing balances for our leases as follows: Balances as of December 31, 2018 (1) Recognition of Gross ROU Asset and Lease Liability Reclassification of Existing Balances Balances Premises and Equipment: Right-of-use assets $ — $ 66,231 $ (21,438 ) $ 44,793 Other Assets: Prepaid expenses (rent) 977 — (977 ) — Other Liabilities: Liability for lease abandonments and deferred rent (5,498 ) — 5,498 — Lease liability — (66,247 ) 977 65,270 Liabilities related to discontinued operations: Liability for lease abandonments (3) (15,940 ) — 15,940 — Retained Earnings: Cumulative effect of adopting ASU 2016-02 — 16 — 16 (1) Represents amounts related to leases impacted by the adoption of this ASU that were included in our December 31, 2018 consolidated balance sheet. (2) ROU assets as of January 1, 2019 after transition adjustments includes $30.4 million related to premises located in the U.S., $13.6 million related to premises located in India and the Philippines, and $0.7 million related to equipment. (3) Represents lease impairments recognized by PHH prior to the acquisition. Our leases include non-cancelable operating leases for premises and equipment with maturities extending to 2025, exclusive of renewal option periods. At lease commencement date, we estimate the ROU assets and lease liability at present value using our estimated incremental borrowing rate of 7.5% . We elected to recognize ROU assets and lease liabilities that arise from short-term leases. A maturity analysis of our lease liability as of June 30, 2019 is summarized as follows: Annual obligation for the twelve months ended June 30, 2020 $ 19,312 2021 16,556 2022 15,558 2023 9,558 2024 1,659 Thereafter 1,268 63,911 Less: Adjustment to present value (8,422 ) Total minimum lease payments, net $ 55,489 Restricted cash includes a $23.2 million deposit as collateral for an irrevocable standby letter of credit issued in connection with one of our leased facilities. This letter of credit requirement under the terms of the lease agreement is primarily the result of PHH not meeting certain credit rating criteria prior to the acquisition. The required amount of the letter of credit will be reduced each month beginning in January 2021 through the lease expiration on December 31, 2022. We amortize the balance of the ROU assets and interest on the lease liability and report in Occupancy and equipment expense on our unaudited consolidated statements of operations. Our lease liability is reduced as we make cash payments on our lease obligations. Our ROU lease assets are evaluated for impairment, in accordance with ASC 360, Premises and Equipment , at each reporting date. Subsequent to adoption, we made the decision to vacate four leased properties prior to the contractual maturity date of the lease agreements. As a result of our plan to vacate the office space, we accelerated the recognition of amortization on the ROU assets based on the shortened remaining useful life of the leases. We recorded total accelerated amortization of $2.8 million during the six months ended June 30, 2019. Accounting Standards Issued but Not Yet Adopted Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (ASU 2016-13) This ASU will require more timely recording of credit losses on loans and other financial instruments. This standard aligns the accounting with the economics of lending by requiring banks and other lending institutions to immediately record the full amount of credit losses that are expected in their loan portfolios. The new guidance requires an organization to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This standard requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. Additionally, the new guidance amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. This standard will be effective for us on January 1, 2020, with early application permitted. We are currently evaluating the effect of adopting this standard.

Business Acquisitions (Notes)

Business Acquisitions (Notes)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Business Acquisition	Note 2 – Business Acquisition On October 4, 2018, we completed our acquisition of PHH, a non-bank servicer with established servicing and origination recapture capabilities. As a result of the acquisition, PHH became a wholly owned subsidiary of Ocwen. The acquisition has been accounted for under the acquisition method of accounting pursuant to ASC 805, Business Combinations . Assets acquired and liabilities assumed are recorded at their fair value as of the date of acquisition based on management’s estimates using currently available information. The results of PHH operations are included in Ocwen’s consolidated statements of operations from the date of acquisition. For U.S. income tax purposes, the acquisition of PHH is treated as a stock purchase. Purchase Price Allocation The purchase price allocation provided in the table below reflects the fair value of assets acquired and liabilities assumed in the acquisition of PHH, with the excess of total identifiable net assets over total consideration paid recorded as a bargain purchase gain. Independent valuation specialists conducted analyses to assist management in determining the fair value of certain acquired assets and assumed liabilities. Management is responsible for these third-party valuations and appraisals. The methodologies that we use and key assumptions that we made to estimate the fair value of the acquired assets and assumed debt are described in Note 5 – Fair Value . In a business combination, the initial allocation of the purchase price is considered preliminary and therefore subject to change until the end of the measurement period (not to exceed one year from the acquisition date). Because the measurement period is still open, certain fair value estimates may change once all information necessary to make a final fair value assessment has been received. Purchase Price Allocation October 4, 2018 Adjustments Revised Cash $ 423,088 $ — $ 423,088 Restricted cash 38,813 — 38,813 MSRs 518,127 — 518,127 Advances, net 96,163 — 96,163 Loans held for sale 42,324 358 42,682 Receivables, net 46,838 (96 ) 46,742 Premises and equipment, net 15,203 — 15,203 REO 3,289 — 3,289 Other assets 6,293 — 6,293 Assets related to discontinued operations 2,017 — 2,017 Financing liabilities (MSRs pledged, at fair value) (481,020 ) — (481,020 ) Other secured borrowings, net (27,594 ) — (27,594 ) Senior notes, net (Senior unsecured notes) (120,624 ) — (120,624 ) Accrued legal fees and settlements (9,960 ) — (9,960 ) Other accrued expenses (36,889 ) — (36,889 ) Loan repurchase and indemnification liability (27,736 ) — (27,736 ) Unfunded pension liability (9,815 ) — (9,815 ) Other liabilities (34,131 ) (643 ) (34,774 ) Liabilities related to discontinued operations (21,954 ) — (21,954 ) Total identifiable net assets 422,432 (381 ) 422,051 Total consideration paid to seller (358,396 ) — (358,396 ) Bargain purchase gain $ 64,036 $ (381 ) $ 63,655 We acquired tax attributes, including the estimated future tax benefit of U.S. federal net operating losses (NOLs) valued at $30.2 million , state NOLs valued at $50.3 million and state tax credits of $9.2 million on the acquisition date. All of the acquired tax attributes were fully offset by a valuation allowance. All of these attributes are subject to annual limitations with regard to future utilization under Sections 382 and 383 of the Internal Revenue Code or the comparable provisions of state law. Accordingly, as of December 31, 2018, Ocwen combined had U.S. federal NOLs valued at $58.2 million , USVI NOLs valued at $3.1 million , state NOLs valued at $50.3 million and state tax credits of $9.2 million , all of which were fully offset by a valuation allowance. All of these attributes are subject to the provisions of Sections 382 and 383 of the Internal Revenue Code or the comparable provisions of foreign and state law. All of the attributes are subject to further potential annual limitations in the event of additional ownership changes in the future. Pro Forma Results of Operations The pro forma consolidated results presented below are not indicative of what Ocwen’s consolidated results would have been had we completed the acquisition on the date indicated due to a number of factors, including but not limited to expected reductions in servicing, origination and overhead costs through the realization of targeted cost synergies and improved economies of scale, the impact of incremental costs to integrate the two companies and differences in servicing practices and cost structures between Ocwen and PHH. In addition, the pro forma consolidated results do not purport to project combined future operating results of Ocwen and PHH nor do they reflect the expected realization of any cost savings associated with the acquisition of PHH. The table below presents supplemental pro forma information for Ocwen for the three and six months ended June 30, 2018 as if the PHH acquisition occurred on January 1, 2017. Pro forma adjustments include the following: Description Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Increase in MSR valuation adjustments, net for acquired MSRs to conform the accounting for MSRs to the valuation policies of Ocwen $ 6,829 $ 1,082 Adjust interest expense for a total net decline (1) 9,879 12,216 Report Ocwen and PHH acquisition-related charges for professional services as if they had been incurred in 2017 rather than 2018 5,481 9,164 Total net increase in revenue (2) 47,552 81,460 Adjust depreciation expense to amortize internally developed software acquired from PHH on a straight-line basis based on a useful life of three years 245 490 Income tax benefit based on management’s estimate of the blended applicable statutory tax rates and observing the continued need for a valuation allowance (3) 580 1,458 (1) Primarily pertains to fair value adjustments of $10.1 million and $12.7 million for the three and six months ended June 30, 2018, respectively, related to the assumed MSR secured liability using valuation assumptions consistent with Ocwen’s methodology. (2) Primarily pertains to an increase to revenue of $42.6 million and $87.4 million for the three and six months ended June 30, 2018, respectively, for the gross-up of PHH MSRs sold and accounted for as a secured borrowing. The offset of the remaining adjustments are expenses, interest income and interest expense, with no net effect on earnings. (3) The net income tax benefit recorded as a result of pro forma adjustments represents lower current federal tax under the new base erosion and anti-abuse tax (BEAT) provision of the 2017 Tax Cuts and Jobs Act (Tax Act) assuming Ocwen and PHH would file a consol idated federal tax return beginning January 1, 2017. The pro forma tax adjustments contemplate the effects of the Tax Act. Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Revenues $ 335,846 $ 680,368 Net loss from continuing operations (57,225 ) (68,426 ) For purposes of determining pro forma results of operations for the three and six months ended June 30, 2018, the bargain purchase gain is assumed to have been recorded in 2017 rather than 2018.

Cost Reengineering Plan (Notes)

Cost Reengineering Plan (Notes)	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Cost Re-engineering Plan	Note 3 – Cost Re-engineering Plan In February 2019, we announced our intention to execute cost re-engineering opportunities in order to drive stronger financial performance and, in the longer term, simplify our operations. Our cost re-engineering plans extend beyond eliminating redundant costs through the integration process and address organizational, process and control redesign, human capital planning, off-shore utilization, strategic sourcing and facilities rationalization. Costs estimated for this plan include severance, retention and other incentive awards, facilities-related costs and other costs to execute the reorganization. The following is a summary of expenses incurred to-date, including an estimate of remaining and total plan costs: Six Months Ended June 30, 2019 Employee-related Facility-related Other Total Costs incurred in current year (1): First quarter $ 20,787 $ — $ 1,328 $ 22,115 Second quarter 3,460 3,047 3,619 10,126 24,247 3,047 4,947 32,241 Estimate of remaining costs (2) 10,153 3,553 19,053 32,759 Total plan costs $ 34,400 $ 6,600 $ 24,000 $ 65,000 (1) The above expenses were all incurred within the Corporate Items and Other segment. Employee-related costs and facility-related costs are reported in Compensation and benefits expense and Occupancy and equipment expense, respectively, in the unaudited consolidated statements of operations. Other costs are primarily reported in Professional services expense and Other expenses. (2) We expect to incur the remaining plan costs within the year ending December 31, 2019. The following table provides a summary of the aggregate activity of the liability for the re-engineering plan costs: Six Months Ended June 30, 2019 Employee-related Facility-related Other Total Beginning balance $ — $ — $ — $ — Charges 24,247 3,047 4,947 32,241 Payments (9,855 ) — (4,397 ) (14,252 ) Ending balance $ 14,392 $ 3,047 $ 550 $ 17,989

Securitizations and Variable In

Securitizations and Variable Interest Entities	6 Months Ended
	Jun. 30, 2019
Transfers and Servicing [Abstract]
Securitizations and Variable Interest Entities	Note 4 – Securitizations and Variable Interest Entities We securitize, sell and service forward and reverse residential mortgage loans and regularly transfer financial assets in connection with asset-backed financing arrangements. We have aggregated these securitizations and asset-backed financing arrangements into two groups: (1) securitizations of residential mortgage loans and (2) financings of advances. We have determined that the special purpose entities (SPEs) created in connection with our match funded advance financing facilities are VIEs for which we are the primary beneficiary. From time to time, we may acquire beneficial interests issued in connection with mortgage-backed securitizations where we may also be the master and or primary servicer. These beneficial interests consist of subordinate and residual interests acquired from third-parties in market transactions. We consolidate the VIE when we conclude we are the primary beneficiary. Securitizations of Residential Mortgage Loans We receive servicing fees based upon the securitized loan balances and certain ancillary fees, all of which are reported in Servicing and subservicing fees in the unaudited consolidated statements of operations. Transfers of Forward Loans We sell or securitize forward loans that we originate or purchase from third parties, generally in the form of mortgage-backed securities guaranteed by the GSEs or Ginnie Mae. Securitization typically occurs within 30 days of loan closing or purchase. We act only as a fiduciary and do not have a variable interest in the securitization trusts. As a result, we account for these transactions as sales upon transfer. The following table presents a summary of cash flows received from and paid to securitization trusts related to transfers accounted for as sales that were outstanding: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Proceeds received from securitizations $ 195,973 $ 338,199 $ 438,933 $ 715,698 Servicing fees collected 12,826 10,077 28,744 20,425 Purchases of previously transferred assets, net of claims reimbursed (143 ) (659 ) (1,047 ) (2,829 ) $ 208,656 $ 347,617 $ 466,630 $ 733,294 In connection with these transfers, we retained MSRs of $0.8 million and $1.6 million , and $2.1 million and $4.5 million , during the three and six months ended June 30, 2019 and 2018 , respectively, which are reported in Gain on loans held for sale, net in the unaudited consolidated statements of operations. See Note 6 – Loans Held for Sale for additional information regarding gains or losses on the transfer of loans held for sale. Certain obligations arise from the agreements associated with our transfers of loans. Under these agreements, we may be obligated to repurchase the loans, or otherwise indemnify or reimburse the investor or guarantor for losses incurred due to material breach of contractual representations and warranties. The following table presents the carrying amounts of our assets that relate to our continuing involvement with forward loans that we have transferred with servicing rights retained as well as an estimate of our maximum exposure to loss including the UPB of the transferred loans: June 30, 2019 December 31, 2018 Carrying value of assets MSRs, at fair value $ 101,582 $ 132,774 Advances and match funded advances 124,796 138,679 UPB of loans transferred (1) 14,543,353 15,600,971 Maximum exposure to loss $ 14,769,731 $ 15,872,424 (1) Represents UPB of loans we transferred for which we continue to act as servicer or subservicer. Our estimate of maximum exposure to loss does not include loans that we do not service for which we have provided representations and warranties because we cannot estimate such amounts. Maximum exposure to loss does not consider any collateral liquidation proceeds. At June 30, 2019 and December 31, 2018 , 8.9% and 8.3% , respectively, of the transferred residential loans that we service were 60 days or more past due. Transfers of Reverse Mortgages We pool HECM loans into HMBS that we sell into the secondary market with servicing rights retained or we sell the loans to third parties with servicing rights released. We have determined that loan transfers in the HMBS program do not meet the definition of a participating interest because of the servicing requirements in the product that require the issuer/servicer to absorb some level of interest rate risk, cash flow timing risk and incidental credit risk. As a result, the transfers of the HECM loans do not qualify for sale accounting, and therefore, we account for these transfers as financings. Under this accounting treatment, the HECM loans are classified as Loans held for investment, at fair value, on our unaudited consolidated balance sheets. Holders of participating interests in the HMBS have no recourse against the assets of Ocwen, except with respect to standard representations and warranties and our contractual obligation to service the HECM loans and the HMBS. The changes in fair value of the HECM loans and HMBS-related borrowings are included in Other revenue, net in our unaudited consolidated statements of operations. Financings of Advances Match funded advances result from our transfers of residential loan servicing advances to SPEs in exchange for cash. We consolidate these SPEs because we have determined that Ocwen is the primary beneficiary of the SPE. These SPEs issue debt supported by collections on the transferred advances, and we refer to this debt as Match funded liabilities. We make transfers to these SPEs in accordance with the terms of our advance financing facility agreements. Debt service accounts require us to remit collections on pledged advances to the trustee within two days of receipt. Collected funds that are not applied to reduce the related match funded debt until the payment dates specified in the indenture are classified as debt service accounts within Restricted cash in our unaudited consolidated balance sheets. The balances also include amounts that have been set aside from the proceeds of our match funded advance facilities to provide for possible shortfalls in the funds available to pay certain expenses and interest. The funds are held in interest earning accounts and those amounts related to match funded facilities are held in the name of the SPE created in connection with the facility. We classify the transferred advances on our unaudited consolidated balance sheets as a component of Match funded advances and the related liabilities as Match funded liabilities. The SPEs use collections of the pledged advances to repay principal and interest and to pay the expenses of the SPE. Holders of the debt issued by these entities have recourse only to the assets of the SPE for satisfaction of the debt. The assets and liabilities of the advance financing SPEs are comprised solely of Match funded advances, Debt service accounts, Match funded liabilities and amounts due to affiliates. Amounts due to affiliates are eliminated in consolidation in our unaudited consolidated balance sheets. Mortgage-Backed Securitizations The table below presents the carrying value and classification of the assets and liabilities of two consolidated mortgage-backed securitization trusts included in our unaudited consolidated balance sheets as a result of residual securities issued by the trust that we acquired during 2018. June 30, 2019 December 31, 2018 Loans held for investment, at fair value - Restricted for securitization investors $ 25,324 $ 26,520 Financing liability - Owed to securitization investors, at fair value 23,697 24,815 We have concluded we are the primary beneficiary of certain residential mortgage-backed securitizations as a result of beneficial interests consisting of residual securities, which expose us to the expected losses and residual returns of the trust, and our role as master servicer, where we have the ability to direct the activities that most significantly impact the performance of the trust. Upon consolidation of the securitization trusts, we elected to apply the measurement alternative to ASC Topic 820, Fair Value Measurement for collateralized financing entities. The measurement alternative requires a reporting entity to use the more observable of the fair value of the financial assets or the financial liabilities to measure both the financial assets and the financial liabilities of the entity. We determined that the fair value of the loans held by the trusts is more observable than the fair value of the debt certificates issued by the trusts. Through the application of the measurement alternative, the fair value of the financial liabilities of the trusts are measured as the difference between the fair value of the financial assets and the fair value of our investment in the residual securities of the trusts. Holders of the debt issued by these entities have recourse only to the assets of the SPE for satisfaction of the debt and have no recourse against the assets of Ocwen for satisfaction of the debt. Similarly, the general creditors of Ocwen have no claim on the assets of the trusts. Our exposure to loss as a result of our continuing involvement is limited to the carrying values of our investments in the residual securities of the trusts, our MSRs and related advances. At June 30, 2019 , MSRs of $0.1 million and our $1.6 million investment in the residual securities of the trusts were eliminated in consolidation. Advances outstanding at June 30, 2019 were $1.3 million .

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value	Note 5 – Fair Value Fair value is estimated based on a hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs. Observable inputs are inputs that reflect the assumptions that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy prioritizes the inputs to valuation techniques into three broad levels whereby the highest priority is given to Level 1 inputs and the lowest to Level 3 inputs. Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date. Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3: Unobservable inputs for the asset or liability. We classify assets in their entirety based on the lowest level of input that is significant to the fair value measurement. We have elected to fair value future draw commitments for HECM loans purchased or originated after December 31, 2018. The estimated fair value is included in Loans held for investment on our unaudited consolidated balance sheets with changes in fair value recognized in Other revenue, net in our unaudited consolidated statements of operations. The value of future draw commitments for HECM loans purchased or originated before January 1, 2019 will be recognized over time as such future draws are securitized or sold. The carrying amounts and the estimated fair values of our financial instruments and certain of our nonfinancial assets measured at fair value on a recurring or non-recurring basis or disclosed, but not measured, at fair value are as follows: June 30, 2019 December 31, 2018 Level Carrying Value Fair Value Carrying Value Fair Value Financial assets Loans held for sale Loans held for sale, at fair value (a) 2 $ 135,691 $ 135,691 $ 176,525 $ 176,525 Loans held for sale, at lower of cost or fair value (b) 3 60,380 60,380 66,097 66,097 Total Loans held for sale $ 196,071 $ 196,071 $ 242,622 $ 242,622 Loans held for investment Loans held for investment - Reverse mortgages (a) 3 $ 5,872,407 $ 5,872,407 $ 5,472,199 $ 5,472,199 Loans held for investment - Restricted for securitization investors (a) 3 25,324 25,324 26,520 26,520 Total loans held for investment $ 5,897,731 $ 5,897,731 $ 5,498,719 $ 5,498,719 Advances (including match funded), net (c) 3 $ 1,104,499 $ 1,104,499 $ 1,186,676 $ 1,186,676 Receivables, net (c) 3 187,985 187,985 198,262 198,262 Mortgage-backed securities (a) 3 2,014 2,014 1,502 1,502 U.S. Treasury notes (a) 1 1,073 1,073 1,064 1,064 Corporate bonds (a) 2 450 450 450 450 Financial liabilities: Match funded liabilities (c) 3 $ 671,796 $ 673,168 $ 778,284 $ 776,485 Financing liabilities: HMBS-related borrowings (a) 3 $ 5,745,383 $ 5,745,383 $ 5,380,448 $ 5,380,448 Financing liability - MSRs pledged (a) 3 844,913 844,913 1,032,856 1,032,856 Financing liability - Owed to securitization investors (a) 3 23,697 23,697 24,815 24,815 Other (c) 3 62,841 45,470 69,942 53,570 Total Financing liabilities $ 6,676,834 $ 6,659,463 $ 6,508,061 $ 6,491,689 Other secured borrowings: Senior secured term loan (c) (d) 2 $ 333,552 $ 338,150 $ 226,825 $ 227,449 Other (c) 3 182,929 182,929 155,713 155,713 Total Other secured borrowings $ 516,481 $ 521,079 $ 382,538 $ 383,162 June 30, 2019 December 31, 2018 Level Carrying Value Fair Value Carrying Value Fair Value Senior notes: Senior unsecured notes (c) (d) 2 $ 118,524 $ 113,540 $ 119,924 $ 119,258 Senior secured notes (c) (d) 2 329,053 276,283 328,803 306,889 Total Senior notes $ 447,577 $ 389,823 $ 448,727 $ 426,147 Derivative financial instrument assets (liabilities) Interest rate lock commitments (a) 2 $ 4,105 $ 4,105 $ 3,871 $ 3,871 Forward mortgage-backed securities (a) 1 (3,863 ) (3,863 ) (4,983 ) (4,983 ) Interest rate caps (a) 3 47 47 678 678 MSRs (a) 3 $ 1,312,633 $ 1,312,633 $ 1,457,149 $ 1,457,149 (a) Measured at fair value on a recurring basis. (b) Measured at fair value on a non-recurring basis. (c) Disclosed, but not measured, at fair value. (d) The carrying values are net of unamortized debt issuance costs and discount. See Note 13 – Borrowings for additional information . The following tables present a reconciliation of the changes in fair value of Level 3 assets and liabilities that we measure at fair value on a recurring basis: Loans Held for Investment - Reverse Mortgages HMBS-Related Borrowings Loans Held for Inv. - Restricted for Securitiza- tion Investors Financing Liability - Owed to Securit - ization Investors Mortgage-Backed Securities Financing Liability - MSRs Pledged Derivatives MSRs Three months ended June 30, 2019 Beginning balance $ 5,726,917 $ (5,614,688 ) $ 26,237 $ (24,562 ) $ 1,786 $ (951,216 ) $ 276 $ 1,400,191 Purchases, issuances, sales and settlements Purchases — — — — — — — 61,080 Issuances 217,757 (214,543 ) — — — (299 ) — — Sales — — — — — — — (3 ) Settlements (127,884 ) 125,626 (913 ) 865 — 53,288 — (1,367 ) Transfers (to) from: Loans held for sale, at fair value (488 ) — — — — — — — Other assets (36 ) — — — — — — — Receivables, net (45 ) — — — — — — — 89,304 (88,917 ) (913 ) 865 — 52,989 — 59,710 Total realized and unrealized gains (losses) Included in earnings: Change in fair value (1) 56,186 (41,778 ) — — 228 50,745 (229 ) (147,268 ) Calls and other — — — — — 2,569 — — 56,186 (41,778 ) — — 228 53,314 (229 ) (147,268 ) Transfers in and / or out of Level 3 — — — — — — — — Ending balance $ 5,872,407 $ (5,745,383 ) $ 25,324 $ (23,697 ) $ 2,014 $ (844,913 ) $ 47 $ 1,312,633 Loans Held for Investment - Reverse Mortgages HMBS-Related Borrowings Mortgage-Backed Securities Financing Liability - MSRs Pledged Derivatives MSRs Three months ended June 30, 2018 Beginning balance $ 4,988,151 $ (4,838,193 ) $ 1,679 $ (715,924 ) $ 1,866 $ 1,074,247 Purchases, issuances, sales and settlements Purchases — — — — 95 3,507 Issuances 236,386 (276,751 ) — — — (617 ) Sales — — — — — (24 ) Settlements (103,497 ) 100,737 — 49,962 — — Transfers (to) from: Loans held for sale, at fair value (257 ) — — — — — Other assets (33 ) — — — — — Receivables, net (22 ) — — — — — 132,577 (176,014 ) — 49,962 95 2,866 Total realized and unrealized gains (losses) Included in earnings: Change in fair value 23,030 (26,776 ) 53 (8,069 ) (304 ) (33,118 ) Calls and other — — — 1,412 — — 23,030 (26,776 ) 53 (6,657 ) (304 ) (33,118 ) Transfers in and / or out of Level 3 — — — — — — Ending balance $ 5,143,758 $ (5,040,983 ) $ 1,732 $ (672,619 ) $ 1,657 $ 1,043,995 Loans Held for Investment - Reverse Mortgages HMBS-Related Borrowings Loans Held for Inv. - Restricted for Securitiza- Financing Liability - Owed to Securiti- Mortgage-backed Securities Financing Liability - MSRs Pledged Derivatives MSRs Six months ended June 30, 2019 Beginning balance $ 5,472,199 $ (5,380,448 ) $ 26,520 $ (24,815 ) $ 1,502 $ (1,032,856 ) $ 678 $ 1,457,149 Purchases, issuances, sales and settlements Purchases — — — — — (876 ) — 117,000 Issuances 427,021 (425,106 ) — — — — — — Sales — — — — — — — (570 ) Settlements (232,514 ) 228,015 (1,196 ) 1,118 — 103,417 — (4,680 ) Transfers (to) from: Loans held for sale, at fair value (884 ) — — — — — — — Other assets (155 ) — — — — — — — Receivables, net (113 ) — — — — — — — 193,355 (197,091 ) (1,196 ) 1,118 — 102,541 — 111,750 Total realized and unrealized gains (losses) included in earnings Included in earnings: Change in fair value (1) 206,853 (167,844 ) — — 512 76,982 (631 ) (256,266 ) Calls and other — — — — — 8,420 — — 206,853 (167,844 ) — — 512 85,402 (631 ) (256,266 ) Transfers in and / or out of Level 3 — — — — — — — — Ending balance $ 5,872,407 $ (5,745,383 ) $ 25,324 $ (23,697 ) $ 2,014 $ (844,913 ) $ 47 $ 1,312,633 Loans Held for Investment - Reverse Mortgages HMBS-Related Borrowings Mortgage-backed Securities Financing Liability - MSRs Pledged Derivatives MSRs Six months ended June 30, 2018 Beginning balance $ 4,715,831 $ (4,601,556 ) $ 1,592 $ (508,291 ) $ 2,056 $ 671,962 Purchases, issuances, sales and settlements Purchases — — — — 95 5,885 Issuances 487,472 (499,576 ) — (279,586 ) — (2,375 ) Sales — — — — — (155 ) Settlements (186,216 ) 181,548 — 104,509 (371 ) — Transfers (to) from: MSRs carried at amortized cost, net of valuation allowance — — — — — 418,925 Loans held for sale, at fair value (441 ) — — — — — Other assets (137 ) — — — — — Receivables, net (72 ) — — — — — 300,606 (318,028 ) — (175,077 ) (276 ) 422,280 Total realized and unrealized gains (losses) included in earnings Included in earnings: Change in fair value 127,321 (121,399 ) 140 8,642 (123 ) (50,247 ) Calls and other — — — 2,107 — — 127,321 (121,399 ) 140 10,749 (123 ) (50,247 ) Transfers in and / or out of Level 3 — — — — — — Ending balance $ 5,143,758 $ (5,040,983 ) $ 1,732 $ (672,619 ) $ 1,657 $ 1,043,995 (1) The Change in fair value adjustments on Loans held for investment for the three and six months ended June 30, 2019 include $2.7 million and $5.6 million , respectively, in connection with the fair value election for future draw commitments on HECM reverse mortgage loans purchased or originated after December 31, 2018. The methodologies that we use and key assumptions that we make to estimate the fair value of financial instruments and other assets and liabilities measured at fair value on a recurring or non-recurring basis and those disclosed, but not carried, at fair value are described below. Loans Held for Sale Residential forward and reverse mortgage loans that we intend to sell are carried at fair value as a result of a fair value election. Such loans are subject to changes in fair value due to fluctuations in interest rates from the closing date through the date of the sale of the loan into the secondary market. These loans are classified within Level 2 of the valuation hierarchy because the primary component of the price is obtained from observable values of mortgage forwards for loans of similar terms and characteristics. We have the ability to access this market, and it is the market into which conventional and government-insured mortgage loans are typically sold. We purchase certain loans from Ginnie Mae guaranteed securitizations in connection with loan modifications, strategic early buyouts (EBO) and loan resolution activity as part of our contractual obligations as the servicer of the loans. Modified and EBO loans are classified as loans held for sale at the lower of cost or fair value, as we expect to redeliver (sell) the loans into new Ginnie Mae guaranteed securitizations (in the case of modified loans) or sell the loans to a private investor (in the case of EBO loans). The fair value of these loans is estimated using published forward Ginnie Mae prices or existing sale contracts. Loans repurchased in connection with loan resolution activities are classified as receivables. Because these loans are insured or guaranteed by the FHA or VA, the fair value of these loans represents the net recovery value taking into consideration the insured or guaranteed claim. We report all other loans held for sale at the lower of cost or fair value. When we enter into an agreement to sell a loan or pool of loans to an investor at a set price, we value the loan or loans at the commitment price, unless facts and circumstances exist that could impact deal economics, at which point we use judgment to determine appropriate adjustments to recorded fair value, if any. We base the fair value of loans for which we have no agreement to sell on the expected future cash flows discounted at a rate commensurate with the risk of the estimated cash flows, as provided by a third-party valuation expert. Loans Held for Investment Loans Held for Investment - Reverse Mortgages We measure these loans at fair value based on the expected future cash flows discounted over the expected life of the loans at a rate commensurate with the risk of the estimated cash flows, including future draw commitments for HECM loans purchased or originated after December 31, 2018. Significant assumptions include expected prepayment and delinquency rates and cumulative loss curves. The discount rate assumption for these assets is primarily based on an assessment of current market yields on newly originated reverse mortgage loans, expected duration of the asset and current market interest rates. Significant valuation assumptions June 30, December 31, Life in years Range 2.9 to 7.8 3.0 to 7.6 Weighted average 6.2 5.9 Conditional repayment rate Range 6.9% to 32.4% 6.8% to 38.4% Weighted average 13.9 % 14.7 % Discount rate 2.8 % 3.4 % Significant increases or decreases in any of these assumptions in isolation could result in a significantly lower or higher fair value, respectively. The effects of changes in the assumptions used to value the loans held for investment are largely offset by the effects of changes in the assumptions used to value the HMBS-related borrowings that are associated with these loans. Loans Held for Investment – Restricted for securitization investors We have elected to measure loans held by consolidated mortgage-backed securitization trusts at fair value. The loans are secured by first liens on single family residential properties. Fair value is based on proprietary cash flow modeling processes for a third-party broker/dealer and a third-party valuation expert. Significant assumptions used in the valuation include projected monthly payments, projected prepayments and defaults, property liquidation values and discount rates. MSRs The significant components of the estimated future cash inflows for MSRs include servicing fees, late fees, float earnings and other ancillary fees. Significant cash outflows include the cost of servicing, the cost of financing servicing advances and compensating interest payments. Third-party valuation experts generally utilize: (a) transactions involving instruments with similar collateral and risk profiles, adjusted as necessary based on specific characteristics of the asset or liability being valued; and/or (b) industry-standard modeling, such as a discounted cash flow model, in arriving at their estimate of fair value. The prices provided by the valuation experts reflect their observations and assumptions related to market activity, incorporating available industry survey results and client feedback, and including risk premiums and liquidity adjustments. The models and related assumptions used by the valuation experts are owned and managed by them and, in many cases, the significant inputs used in the valuation techniques are not reasonably available to us. However, we understand the processes and assumptions used to develop the prices based on our ongoing due diligence, which includes regular discussions with the valuation experts. We believe that the procedures executed by the valuation experts, supported by our verification and analytical procedures, provide reasonable assurance that the prices used in our unaudited consolidated financial statements comply with the accounting guidance for fair value measurements and disclosures and reflect the assumptions that a market participant would use. We evaluate the reasonableness of our third-party experts’ assumptions using historical experience adjusted for prevailing market conditions. Assumptions used in the valuation of MSRs include: • Mortgage prepayment speeds • Delinquency rates • Cost of servicing • Interest rate used for computing float earnings • Discount rate • Compensating interest expense • Interest rate used for computing the cost of financing servicing advances • Collection rate of other ancillary fees • Curtailment on advances Fair Value MSRs MSRs carried at fair value are classified within Level 3 of the valuation hierarchy. The fair value is equal to the mid-point of the range of prices provided by third-party valuation experts, without adjustment, except in the event we have a potential or completed sale, including transactions where we have executed letters of intent, in which case the fair value of the MSRs is recorded at the estimated sale price unless facts and circumstances exist that could impact deal economics, at which point we use judgment to determine appropriate adjustments to recorded fair value, if any. Fair value reflects actual Ocwen sale prices for orderly transactions where available in lieu of independent third-party valuations. Our valuation process includes discussions of bid pricing with the third-party valuation experts and are contemplated along with other market-based transactions in their model validation. A change in the valuation inputs utilized by the valuation experts might result in a significantly higher or lower fair value measurement. Changes in market interest rates predominantly impact the fair value for Agency MSRs via prepayment speeds by altering the borrower refinance incentive and the non-Agency MSRs due to impact on advance costs. Other key assumptions used in the valuation of these MSRs include delinquency rates and discount rates. Significant valuation assumptions June 30, 2019 December 31, 2018 Agency Non-Agency Agency Non-Agency Weighted average prepayment speed 11.7 % 15.5 % 8.5 % 15.4 % Weighted average delinquency rate 6.9 % 27.2 % 6.6 % 27.1 % Advance financing cost 5-year swap 5-year swap plus 2.75% 5-year swap 5-yr swap plus 2.75% Interest rate for computing float earnings 5-year swap 5-year swap minus 0.50% 5-year swap 5-yr swap minus 0.50% Weighted average discount rate 9.3 % 12.6 % 9.1 % 12.8 % Weighted average cost to service (in dollars) $ 86 $ 295 $ 90 $ 297 Because the mortgages underlying these MSRs permit the borrowers to prepay the loans, the value of the MSRs generally tends to diminish in periods of declining interest rates, an improving housing market or expanded product availability (as prepayments increase) and increase in periods of rising interest rates, a deteriorating housing market or reduced product availability (as prepayments decrease). The following table summarizes the estimated change in the value of the MSRs that we carry at fair value as of June 30, 2019 given 10% and 20% hypothetical shifts in prepayment speeds and discount rate assumptions: Adverse change in fair value 10% 20% Weighted average prepayment speeds $ (130,889 ) $ (251,379 ) Weighted average discount rate (35,280 ) (68,984 ) The sensitivity analysis measures the potential impact on fair values based on hypothetical changes, which in the case of our portfolio at June 30, 2019 are increased prepayment speeds and an increase in the yield assumption. Advances We value advances at their net realizable value, which generally approximates fair value, because advances have no stated maturity, are generally realized within a relatively short period of time and do not bear interest. Receivables The carrying value of receivables generally approximates fair value because of the relatively short period of time between their origination and realization. Mortgage-Backed Securities (MBS) Our subordinate and residual securities are not actively traded, and therefore, we estimate the fair value of these securities using a process based upon the use of an independent third-party valuation expert. Where possible, we consider observable trading activity in the valuation of our securities. Key inputs include expected prepayment rates, delinquency and cumulative loss curves and discount rates commensurate with the risks. Where possible, we use observable inputs in the valuation of our securities. However, the subordinate and residual securities in which we have invested trade infrequently and therefore have few or no observable inputs and little price transparency. Additionally, during periods of market dislocation, the observability of inputs is further reduced. We classify subordinate and residual securities as trading securities and account for them at fair value on a recurring basis. Changes in the fair value of our investment in subordinate and residual securities are recognized in Other, net in the unaudited consolidated statements of operations. U.S. Treasury Notes We classify U.S. Treasury notes as trading securities and account for them at fair value on a recurring basis. We base the fair value on quoted prices in active markets to which we have access. Changes in the fair value of our investment in U.S. Treasury notes are recognized in Other, net in the unaudited consolidated statements of operations. Match Funded Liabilities For match funded liabilities that bear interest at a rate that is adjusted regularly based on a market index, the carrying value approximates fair value. For match funded liabilities that bear interest at a fixed rate, we determine fair value by discounting the future principal and interest repayments at a market rate commensurate with the risk of the estimated cash flows. We assume the notes are refinanced at the end of their revolving periods, consistent with how we manage our advance facilities. Financing Liabilities HMBS-Related Borrowings We have elected to measure these borrowings at fair value. These borrowings are not actively traded, and therefore, quoted market prices are not available. We determine fair value by discounting the projected recovery of principal, interest and advances over the estimated life of the borrowing at a market rate commensurate with the risk of the estimated cash flows. Significant assumptions include prepayments, discount rate and borrower mortality rates. The discount rate assumption for these liabilities is based on an assessment of current market yields for newly issued HMBS, expected duration and current market interest rates. Significant valuation assumptions June 30, December 31, 2018 Life in years Range 2.9 to 7.8 3.0 to 7.6 Weighted average 6.2 5.9 Conditional repayment rate Range 6.9% to 32.4% 6.8% to 38.4% Weighted average 13.9 % 14.7 % Discount rate 2.8 % 3.3 % Significant increases or decreases in any of these assumptions in isolation would result in a significantly higher or lower fair value. MSRs Pledged (Rights to MSRs) We have elected to measure these borrowings at fair value. We recognize the proceeds received in connection with Rights to MSRs transactions as a secured borrowing that we account for at fair value. Fair value for the portion of the borrowing attributable to the MSRs underlying the Rights to MSRs is determined using the mid-point of the range of prices provided by third-party valuation experts. Fair value for the portion of the borrowing attributable to any lump sum payments received in connection with the transfer of MSRs underlying such Rights to MSRs to the extent such transfer is accounted for as a financing is determined by discounting the relevant future cash flows that were altered through such transfer using assumptions consistent with the mid-point of the range of prices provided by third-party valuation experts for the related MSR. Because we measure all MSRs at fair value, changes in the Financing Liability - MSRs Pledged value are partially offset by changes in the fair value of the related MSRs. See Note 10 — Rights to MSRs for additional information. Significant valuation assumptions June 30, 2019 December 31, 2018 Weighted average prepayment speed 14.6 % 13.9 % Weighted average delinquency rate 19.7 % 20.3 % Advance financing cost 5-year swap plus 0% to 2.75% 5-year swap plus 0% to 2.75% Interest rate for computing float earnings 5-year swap minus 0% to 0.50% 5-year swap minus 0% to 0.50% Weighted average discount rate 11.9 % 12.0 % Weighted average cost to service (in dollars) $ 226 $ 234 Significant increases or decreases in these assumptions in isolation would result in a significantly higher or lower fair value. Secured Notes We issued Ocwen Asset Servicing Income Series (OASIS), Series 2014-1 Notes secured by Ocwen-owned MSRs relating to Freddie Mac mortgages. We accounted for this transaction as a financing. We determine the fair value based on bid prices provided by third parties involved in the issuance and placement of the notes. Financing Liability – Owed to Securitization Investors Consists of securitization debt certificates due to third parties that represent beneficial ownership interests in mortgage-backed securitization trusts that we include in our consolidated financial statements. We determine fair value using the measurement alternative to ASC Topic 820, Fair Value Measurement as disclosed in Note 4 – Securitizations and Variable Interest Entities . In accordance with the measurement alternative, the fair value of the consolidated securitization debt certificates is measured as the fair value of the loans held by the trust less the fair value of the beneficial interests held by us in the form of residual securities. Other Secured Borrowings The carrying value of secured borrowings that bear interest at a rate that is adjusted regularly based on a market index approximates fair value. For other secured borrowings that bear interest at a fixed rate, we determine fair value by discounting the future principal and interest repayments at a market rate commensurate with the risk of the estimated cash flows. For the SSTL, we based the fair value on valuation data obtained from a pricing service. Senior Notes We base the fair value on quoted prices in a market with limited trading activity, or on valuation data obtained from a pricing service in the absence of trading data. Derivative Financial Instruments Interest rate lock commitments (IRLCs) represent an agreement to purchase loans from a third-party originator or an agreement to extend credit to a mortgage applicant (locked pipeline), whereby the interest rate is set prior to funding. IRLCs are classified within Level 2 of the valuation hierarchy as the primary component of the price is obtained from observable values of mortgage forwards for loans of similar terms and characteristics. Fair value amounts of IRLCs are adjusted for expected “fallout” (locked pipeline loans not expected to close) using models that consider cumulative historical fallout rates and other factors. We enter into forward MBS trades to provide an economic hedge against changes in the fair value of residential forward and reverse mortgage loans held for sale that we carry at fair value. Forward MBS trades are primarily used to fix the forward sales price that will be realized upon the sale of mortgage loans into the secondary market. Forward contracts are actively traded in the market and we obtain unadjusted market quotes for these derivatives; thus, they are classified within Level 1 of the valuation hierarchy. In addition, we may use interest rate caps to minimize future interest rate exposure on variable rate debt issued on servicing advance financing facilities from increases in one-month or three-month Eurodollar rate (1ML or 3 ML, respectively) interest rates. The fair value for interest rate caps is based on counterparty market prices and adjusted for counterparty credit risk.

Loans Held for Sale

Loans Held for Sale	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Loans Held for Sale	Note 6 – Loans Held for Sale Loans Held for Sale - Fair Value Six Months Ended June 30, 2019 2018 Beginning balance $ 176,525 $ 214,262 Originations and purchases 370,207 497,980 Proceeds from sales (405,999 ) (559,042 ) Principal collections (11,046 ) (7,315 ) Transfers from (to): Loans held for investment, at fair value 884 (1,628 ) Loans held for sale - Lower of cost or fair value (2,866 ) — Receivables, net (746 ) — REO (Other assets) (866 ) — Gain on sale of loans 18,148 21,030 Decrease in fair value of loans (292 ) (10,872 ) Other (8,258 ) (509 ) Ending balance (1) $ 135,691 $ 153,906 (1) At June 30, 2019 and 2018 , the balances include fair value adjustments of $(7.5) million and $(5.9) million , respectively. Loans Held for Sale - Lower of Cost or Fair Value Six Months Ended June 30, 2019 2018 Beginning balance $ 66,097 $ 24,096 Purchases 131,489 340,601 Proceeds from sales (92,478 ) (227,041 ) Principal collections (4,183 ) (7,584 ) Transfers from (to): Receivables, net (53,657 ) (78,514 ) REO (Other assets) (2,287 ) (1,358 ) Loans held for sale - Fair value 2,866 — Gain on sale of loans 1,815 957 Decrease (increase) in valuation allowance 1,512 (217 ) Other 9,206 4,607 Ending balance (1) $ 60,380 $ 55,547 (1) At June 30, 2019 and 2018 , the balances include $34.9 million and $48.6 million , respectively, of loans that we repurchased from Ginnie Mae guaranteed securitizations pursuant to Ginnie Mae servicing guidelines. We may repurchase loans that have been modified, to facilitate loss reduction strategies, or as otherwise obligated as a Ginnie Mae servicer. Repurchased loans may be modified or otherwise remediated through loss mitigation activities, may be sold to a third party, or are reclassified to receivables. Valuation Allowance - Loans Held for Sale at Lower of Cost or Fair Value Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Beginning balance $ 10,863 $ 8,503 $ 11,569 $ 7,318 Provision 394 (572 ) 1,036 281 Transfer from Liability for indemnification obligations (Other liabilities) 7 278 74 997 Sales of loans (1,207 ) (674 ) (2,622 ) (1,083 ) Other — — — 22 Ending balance $ 10,057 $ 7,535 $ 10,057 $ 7,535 Gain on Loans Held for Sale, Net Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Gain on sales of loans, net MSRs retained on transfers of forward mortgage loans $ 816 $ 2,075 $ 1,644 $ 4,453 Fair value gains related to transfers of reverse mortgage loans, net 6,300 16,481 12,783 27,449 Gain on sale of repurchased Ginnie Mae loans 1,252 265 1,790 957 Gain on sale of forward mortgage loans 6,762 16,422 17,206 22,189 Other, net 457 (2,868 ) 2,587 (2,620 ) 15,587 32,375 36,010 52,428 Change in fair value of IRLCs 45 (1,265 ) (296 ) 111 Change in fair value of loans held for sale 468 (6,222 ) 326 (10,146 ) (Loss) gain on economic hedge instruments (968 ) (401 ) (3,238 ) 1,998 Other (57 ) (94 ) (132 ) (198 ) $ 15,075 $ 24,393 $ 32,670 $ 44,193

Advances

Advances	6 Months Ended
	Jun. 30, 2019
Advances [Abstract]
Advances	Note 7 – Advances June 30, 2019 December 31, 2018 Principal and interest $ 65,389 $ 43,671 Taxes and insurance 152,394 160,373 Foreclosures, bankruptcy and other 39,037 68,597 256,820 272,641 Allowance for losses (27,653 ) (23,259 ) $ 229,167 $ 249,382 The following table summarizes the activity in net advances: Six Months Ended June 30, 2019 2018 Beginning balance $ 249,382 $ 211,793 Asset acquisitions 688 — Sales of advances (707 ) (877 ) Collections of advances, charge-offs and other, net (15,802 ) (37,109 ) Net increase in allowance for losses (4,394 ) (20 ) Ending balance $ 229,167 $ 173,787 Allowance for Losses Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Beginning balance $ 23,135 $ 16,980 $ 23,259 $ 16,465 Provision 2,041 977 3,803 3,501 Net charge-offs and other 2,477 (1,472 ) 591 (3,481 ) Ending balance $ 27,653 $ 16,485 $ 27,653 $ 16,485

Match Funded Advances

Match Funded Advances	6 Months Ended
	Jun. 30, 2019
Transfers and Servicing [Abstract]
Match Funded Assets	Note 8 – Match Funded Advances June 30, 2019 December 31, 2018 Principal and interest $ 414,824 $ 412,897 Taxes and insurance 316,815 374,853 Foreclosures, bankruptcy, REO and other 143,693 149,544 $ 875,332 $ 937,294 The following table summarizes the activity in match funded assets: Six Months Ended June 30, 2019 2018 Advances Advances Automotive Dealer Financing Notes Beginning balance $ 937,294 $ 1,144,600 $ 32,757 Transfer to Other assets — — (36,896 ) New advances (collections), net (61,962 ) (150,674 ) 1,504 Decrease in allowance for losses (1) — — 2,635 Ending balance $ 875,332 $ 993,926 $ — (1) The remaining allowance was charged off in connection with the exit from the automotive capital services business. In January 2018, we terminated the automotive dealer loan financing facility.

Mortgage Servicing

Mortgage Servicing	6 Months Ended
	Jun. 30, 2019
Transfers and Servicing [Abstract]
Mortgage Servicing	Note 9 – Mortgage Servicing MSRs – Amortization Method Six Months Ended June 30, 2019 2018 Beginning balance $ — $ 336,882 Fair value election - transfer of MSRs carried at fair value (1) — (361,670 ) Decrease in impairment valuation allowance (1) (2) — 24,788 Ending balance $ — $ — (1) Effective January 1, 2018, we elected fair value accounting for our MSRs previously accounted for using the amortization method, which included Agency MSRs and government-insured MSRs. This irrevocable election applies to all subsequently acquired or originated servicing assets and liabilities that have characteristics consistent with each of these classes. We recorded a cumulative-effect adjustment of $82.0 million to retained earnings as of January 1, 2018 to reflect the excess of the fair value of the Agency MSRs over their carrying amount. We also recognized the tax effect of this adjustment through an increase in retained earnings of $6.8 million and a deferred tax asset for the same amount. However, we established a full valuation allowance on the resulting deferred tax asset through a reduction in retained earnings. The government-insured MSRs were impaired by $24.8 million at December 31, 2017; therefore, these MSRs were already effectively carried at fair value. (2) Impairment valuation allowance balance of $24.8 million was reclassified to reduce the carrying value of the related MSRs on January 1, 2018 in connection with our fair value election. MSRs – Fair Value Measurement Method Six Months Ended June 30, 2019 2018 Agency Non-Agency Total Agency Non-Agency Total Beginning balance $ 865,587 $ 591,562 $ 1,457,149 $ 11,960 $ 660,002 $ 671,962 Fair value election - transfer from MSRs carried at amortized cost — — — 336,882 — 336,882 Cumulative effect of fair value election — — — 82,043 — 82,043 Sales and other transfers (29 ) (541 ) (570 ) — (155 ) (155 ) Additions: Recognized on the sale of residential mortgage loans 2,698 — 2,698 5,885 — 5,885 Purchase of MSRs 114,302 87 114,389 — — — Servicing transfers and adjustments — (4,767 ) (4,767 ) — (2,375 ) (2,375 ) Changes in fair value (1): Changes in valuation inputs or other assumptions (171,676 ) 12,583 (159,093 ) 20,460 4,989 25,449 Realization of expected future cash flows and other changes (65,147 ) (32,026 ) (97,173 ) (29,633 ) (46,063 ) (75,696 ) Ending balance $ 745,735 $ 566,898 $ 1,312,633 $ 427,597 $ 616,398 $ 1,043,995 (1) Changes in fair value are recognized in MSR valuation adjustments, net in the unaudited consolidated statements of operations. Portfolio of Assets Serviced The following table presents the composition of our residential primary servicing and subservicing portfolios as measured by UPB, including foreclosed real estate and small-balance commercial loans. The UPB amounts in the table below are not included on our unaudited consolidated balance sheets. UPB at June 30, 2019 Servicing $ 80,141,128 Subservicing 27,432,019 NRZ 121,709,898 $ 229,283,045 UPB at December 31, 2018 Servicing $ 72,378,693 Subservicing 53,104,560 NRZ 130,517,237 $ 256,000,490 UPB at June 30, 2018 Servicing $ 70,796,834 Subservicing 1,600,289 NRZ 94,729,891 $ 167,127,014 During the six months ended June 30, 2019 , we acquired MSRs on portfolios consisting of 45,307 loans with a UPB of $10.8 billion . During the six months ended June 30, 2019 , we also sold MSRs on portfolios consisting of 307 loans with a UPB of $100.1 million . A significant portion of the servicing agreements for our non-Agency servicing portfolio contain provisions where we could be terminated as servicer without compensation upon the failure of the serviced loans to meet certain portfolio delinquency or cumulative loss thresholds. As a result of the economic downturn beginning in 2007 - 2008, the portfolio delinquency and/or cumulative loss threshold provisions have been breached in many private-label securitizations in our non-Agency servicing portfolio. To date, terminations as servicer as a result of a breach of any of these provisions have been minimal. At June 30, 2019 , the S&P Global Ratings, Inc.’s (S&P) and Fitch Ratings, Inc.’s (Fitch) servicer ratings outlook for PMC is stable. Downgrades in servicer ratings could adversely affect our ability to sell or finance servicing advances and could impair our ability to consummate future servicing transactions or adversely affect our dealings with lenders, other contractual counterparties, and regulators, including our ability to maintain our status as an approved servicer by Fannie Mae and Freddie Mac. The servicer rating requirements of Fannie Mae do not necessarily require or imply immediate action, as Fannie Mae has discretion with respect to whether we are in compliance with their requirements and what actions it deems appropriate under the circumstances in the event that we fall below their desired servicer ratings. Certain of our servicing agreements require that we maintain specified servicer ratings from rating agencies such as Moody’s and S&P. As a result of our current servicer ratings, termination rights have been triggered in certain of our non-Agency servicing agreements. To date, terminations as servicer as a result of a breach of any of these provisions have been minimal. Servicing Revenue Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Loan servicing and subservicing fees Servicing $ 54,609 $ 55,783 $ 107,038 $ 114,779 Subservicing 4,203 871 10,410 1,786 NRZ 141,091 126,712 296,938 253,729 199,903 183,366 414,386 370,294 Late charges 13,242 15,315 28,682 29,904 Custodial accounts (float earnings) 13,341 8,461 25,275 15,724 Loan collection fees 3,401 4,767 7,750 9,785 Home Affordable Modification Program (HAMP) fees (1) 1,565 4,153 3,342 8,256 Other, net 7,730 6,165 15,610 10,402 $ 239,182 $ 222,227 $ 495,045 $ 444,365 (1) The HAMP expired on December 31, 2016. Borrowers who had requested assistance or to whom an offer of assistance had been extended as of that date had until September 30, 2017 to finalize their modification. We continue to earn HAMP success fees for HAMP modifications that remain less than 90 days delinquent at the first-, second- and third-year anniversary of the start of the trial modification. Float balances (balances in custodial accounts, which represent collections of principal and interest that we receive from borrowers) are held in escrow by an unaffiliated bank and are excluded from our unaudited consolidated balance sheets. Float balances amounted to $2.0 billion and $1.7 billion at June 30, 2019 and June 30, 2018 , respectively.

Rights to MSRs

Rights to MSRs	6 Months Ended
	Jun. 30, 2019
Transfers and Servicing [Abstract]
Rights to MSRs	Note 10 — Rights to MSRs Ocwen and PMC have entered into agreements to sell MSRs or Rights to MSRs and the related servicing advances to NRZ, and in all cases have been retained by NRZ as subservicer. In the case of Ocwen Rights to MSRs transactions, while the majority of the risks and rewards of ownership were transferred, legal title was retained by Ocwen, causing the Rights to MSRs transactions to be accounted for as secured financings. In the case of the PMC transactions, and for those Ocwen MSRs where consents were subsequently received and legal title was transferred to NRZ, due to the length of the non-cancellable term of the subservicing agreements, the transactions do not qualify as a sale and are accounted for as secured financings. As a result, we continue to recognize the MSRs and related financing liability on our consolidated balance sheet, as well as the full amount of servicing revenue and changes in the fair value of the MSRs and related financing liability, including related interest expense, in our consolidated statements of operations. The following tables present the assets and liabilities recorded on our unaudited consolidated balance sheets as well as the impacts to our unaudited consolidated statements of operations in connection with our NRZ agreements. Balance Sheets June 30, 2019 December 31, 2018 MSRS, at fair value $ 756,810 $ 894,002 Due from NRZ (Receivables) Sales and transfers of MSRs (1) $ 25,575 $ 23,757 Advance funding, subservicing fees and reimbursable expenses 15,102 30,845 $ 40,677 $ 54,602 Due to NRZ (Other Liabilities) $ 46,956 $ 53,001 Financing liability - MSRs pledged, at fair value Original Rights to MSRs Agreements $ 412,909 $ 436,511 2017 Agreements and New RMSR Agreements (2) 88,103 138,854 PMC MSR Agreements 343,901 457,491 $ 844,913 $ 1,032,856 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Statements of Operations Servicing fees collected on behalf of NRZ $ 141,091 $ 126,712 $ 296,938 $ 253,729 Less: Subservicing fee retained by Ocwen 35,905 34,444 73,312 68,661 Net servicing fees remitted to NRZ 105,186 92,268 223,626 185,068 Less: Reduction (increase) in financing liability Changes in fair value: Original Rights to MSRs Agreements (1,671 ) (8,897 ) (1,550 ) (8,782 ) 2017 Agreements and New RMSR Agreements 4,634 828 (2,346 ) 17,424 PMC MSR Agreements 47,782 — 80,878 — 50,745 (8,069 ) 76,982 8,642 Runoff and settlement: Original Rights to MSRs Agreements 11,412 15,991 20,447 34,843 2017 Agreements and New RMSR Agreements 26,062 33,971 49,382 69,666 PMC MSR Agreements 15,814 — 33,588 — 53,288 49,962 103,417 104,509 Other (1,777 ) (1,115 ) (3,658 ) (2,622 ) Interest expense $ 2,930 $ 51,490 $ 46,885 $ 74,539 (1) Balance represents the holdback of proceeds from PMC MSR sales and transfers to address indemnification claims and mortgage loan document deficiencies. These sales were executed by PMC prior to the acquisition date. (2) $104.9 million and $34.0 million is expected to be recognized as a reduction in the financing liability and interest expense for the years ended December 31, 2019 and 2020, respectively. Financing Liability - MSRs Pledged Original Rights to MSRs Agreements 2017 Agreements and New RMSR Agreements PMC MSR Agreements Total Balance at December 31, 2018 $ 436,511 $ 138,854 $ 457,491 $ 1,032,856 Additions — — 876 876 Changes in fair value: Original Rights to MSRs Agreements 1,550 — — 1,550 2017 Agreements and New RMSR Agreements — 2,346 — 2,346 PMC MSR Agreements — — (80,878 ) (80,878 ) Runoff and settlement: Original Rights to MSRs Agreements (20,447 ) — — (20,447 ) 2017 Agreements and New RMSR Agreements — (49,382 ) — (49,382 ) PMC MSR Agreements — — (33,588 ) (33,588 ) Calls (1): Original Rights to MSRs Agreements (4,705 ) — — (4,705 ) 2017 Agreements and New RMSR Agreements — (3,715 ) — (3,715 ) Balance at June 30, 2019 $ 412,909 $ 88,103 $ 343,901 $ 844,913 Financing Liability - MSRs Pledged Original Rights to MSRs Agreements 2017 Agreements and New RMSR Agreements Total Balance at December 31, 2017 $ 499,042 $ 9,249 $ 508,291 Receipt of lump-sum cash payments — 279,586 279,586 Changes in fair value: Original Rights to MSRs Agreements 8,782 — 8,782 2017 Agreements and New RMSR Agreements — (17,424 ) (17,424 ) Runoff and settlement: Original Rights to MSRs Agreements (34,843 ) — (34,843 ) 2017 Agreements and New RMSR Agreements — (69,666 ) (69,666 ) Calls (1): Original Rights to MSRs Agreements (1,319 ) — (1,319 ) 2017 Agreements and New RMSR Agreements — (788 ) (788 ) Balance at June 30, 2018 $ 471,662 $ 200,957 $ 672,619 (1) Represents the carrying value of MSRs in connection with call rights exercised by NRZ, for MSRs transferred to NRZ under the 2017 Agreements and New RMSR Agreements, or by Ocwen at NRZ’s direction, for MSRs underlying the Original Rights to MSRs Agreements. Ocwen derecognizes the MSRs and the related financing liability upon collapse of the securitization. Ocwen Transactions Prior to the transfer of legal title under the Master Servicing Rights Purchase Agreement dated as of October 1, 2012, as amended, and certain Sale Supplements, as amended (collectively, the Original Rights to MSRs Agreements), Ocwen agreed to service the mortgage loans underlying the MSRs on the economic terms set forth in the Original Rights to MSRs Agreements. After the transfer of legal title as contemplated under the Original Rights to MSRs Agreements, Ocwen was to service the mortgage loans underlying the MSRs as subservicer on substantially the same economic terms. On July 23, 2017 and January 18, 2018, we entered into a series of agreements with NRZ that collectively modify, supplement and supersede the arrangements among the parties as set forth in the Original Rights to MSRs Agreements. The July 23, 2017 agreements, as amended, include a Master Agreement, a Transfer Agreement and the Subservicing Agreement between Ocwen and New Residential Mortgage LLC (NRM), a subsidiary of NRZ, relating to non-agency loans (the NRM Subservicing Agreement) (collectively, the 2017 Agreements) pursuant to which the parties agreed, among other things, to undertake certain actions to facilitate the transfer from Ocwen to NRZ of Ocwen’s legal title to the remaining MSRs that were subject to the Original Rights to MSRs Agreements and under which Ocwen would subservice mortgage loans underlying the MSRs for an initial term of five years (the Initial Term). On January 18, 2018, the parties entered into new agreements (including a Servicing Addendum) regarding the Rights to MSRs related to MSRs that remained subject to the Original Rights to MSRs Agreements as of January 1, 2018 and amended the Transfer Agreement (collectively, New RMSR Agreements) to accelerate the implementation of certain parts of our arrangements in order to achieve the intent of the 2017 Agreements sooner. Upon receiving the required consents and transferring the MSRs, Ocwen will subservice the mortgage loans underlying the MSRs pursuant to the 2017 Agreements. Ocwen received lump-sum cash payments of $54.6 million and $279.6 million in September 2017 and January 2018 in accordance with the terms of the 2017 Agreements and New RMSR Agreements, respectively. These upfront payments generally represent the net present value of the difference between the future revenue stream Ocwen would have received under the Original Rights to MSRs Agreements and the future revenue stream Ocwen expects to receive under the 2017 Agreements and the New RMSR Agreements. We recognized the cash received as a financing liability that we are accounting for at fair value through the remaining term of the original agreements (April 2020). Changes in fair value are recognized in Interest expense in the unaudited consolidated statements of operations. On August 17, 2018, Ocwen and NRZ entered into certain amendments (i) to the New RMSR Agreements to include NewRez, LLC dba Shellpoint Mortgage Servicing (Shellpoint), a subsidiary of NRZ, as a party to which legal title to the MSRs could be transferred after related consents are received, (ii) to add a Subservicing Agreement between Ocwen and Shellpoint relating to non-agency loans (the Shellpoint Subservicing Agreement), (iii) to add an Agency Subservicing Agreement between Ocwen and NRM relating to agency loans (the Agency Subservicing Agreement), and (iv) to conform the New RMSR Agreements and the NRM Subservicing Agreement to certain of the terms of the Shellpoint Subservicing Agreement and the Agency Subservicing Agreement. As of June 30, 2019 , the UPB of MSRs for which legal title has not transferred to NRZ is $19.8 billion . In the event the required third-party consents were not obtained by May 31, 2019, and in accordance with the process set forth in, the New RMSR Agreements, such MSRs would either: (i) remain subject to the New RMSR Agreements at the option of NRZ, (ii) be acquired by Ocwen at a price determined in accordance with the terms of the New RMSR Agreements at the option of Ocwen, or (iii) be sold to a third party in accordance with the terms of the New RMSR Agreements, subject to an additional Ocwen option to acquire at a price based on the winning third-party bid rather than selling to the third party. NRZ did not exercise its option to designate the remaining MSRs to continue to be subject to the New RMSR Agreements. Ocwen and NRZ are in discussions regarding the information needed for Ocwen to assess whether or not it will exercise its option under (ii) above to acquire all or some of the MSRs that currently remain in the New RMSR Agreements, or what other arrangements will be made with respect to these remaining MSRs. At any time during the Initial Term, NRZ may terminate the Subservicing Agreements and Servicing Addendum for convenience, subject to Ocwen’s right to receive a termination fee and proper notice. The termination fee is calculated as specified in the Subservicing Agreements and Servicing Addendum, and is a discounted percentage of the expected revenues that would be owed to Ocwen over the remaining life of the contract based on certain portfolio run off assumptions. Following the Initial Term, NRZ may extend the term of the Subservicing Agreements and Servicing Addendum for additional three-month periods by providing proper notice. Following the Initial Term, the Subservicing Agreements and Servicing Addendum can be cancelled by Ocwen on an annual basis. NRZ and Ocwen have the ability to terminate the Subservicing Agreements and Servicing Addendum for cause if certain specified conditions occur. The terminations must be terminations in whole (i.e., cover all the loans under the relevant agreement) and not in part, except for limited circumstances specified in the agreements. In addition, if NRZ terminates any of the NRM or Shellpoint Subservicing Agreements or the Servicing Addendum for cause, the other agreements will also terminate automatically. If NRZ terminates the ShellPoint Subservicing Agreement for convenience within the first year after the execution of the Shellpoint Subservicing Agreement, the NRM Subservicing Agreement and the Servicing Addendum will also terminate automatically. Under the terms of the Subservicing Agreements and Servicing Addendum, in addition to a base servicing fee, Ocwen will continue to receive certain ancillary fees, primarily late fees, loan modification fees and Speedpay ® fees. We may also receive certain incentive fees or pay penalties tied to various contractual performance metrics. NRZ will receive all float earnings and deferred servicing fees related to delinquent borrower payments, as well as be entitled to receive certain REO related income including REO referral commissions. Prior to January 18, 2018, MSRs as to which necessary transfer consents had not yet been obtained continued to be subject to the terms of the agreements entered into in 2012 and 2013. Under the 2012 and 2013 agreements, the servicing fees payable under the servicing agreements underlying the Rights to MSRs were apportioned between NRZ and us. NRZ retained a fee based on the UPB of the loans serviced, and OLS received certain fees, including a performance fee based on servicing fees paid less an amount calculated based on the amount of servicing advances and the cost of financing those advances. PMC Transactions On December 28, 2016, PMC entered into an agreement to sell substantially all of its MSRs, and the related servicing advances, to New Residential Mortgage LLC, a wholly-owned subsidiary of NRZ. In connection with this agreement, on December 28, 2016, PMC also entered into a subservicing agreement with NRZ (collectively, the PMC MSR Agreements). The PMC subservicing agreement has an initial term of three years from the initial transaction date of June 16, 2017, subject to certain transfer and termination provisions. The PMC subservicing arrangement generates revenue based on a schedule of fees per loan per month that includes revenue adjustments for delinquent loans to cover the incremental cost associated with servicing such loans. As of June 30, 2019, Ocwen serviced 300,149 loans under this arrangement and recorded servicing fee revenues for the three and six months ended June 30, 2019 of $7.0 million and $14.2 million , respectively. Through its acquisition of PHH on October 4, 2018, Ocwen added MSRs with $42.3 billion UPB related to the PMC MSR Agreements. As of June 30, 2019 , $3.0 billion in UPB of MSRs and related advances remain to be sold to NRZ under the PMC MSR Agreements pending receipt of required third-party consents. Ocwen and NRZ are in discussions regarding the disposition of these assets. At any time during each of the second and third years of the initial term, and subject to the payment of the applicable deboarding fee and proper notice, NRZ may terminate an amount not to exceed 25% of the underlying mortgage loans being subserviced under the PMC subservicing agreement. The PMC subservicing agreement automatically renews for successive one-year terms unless either party provides notice of termination. NRZ and PMC each have the ability to terminate the subservicing agreement for cause if certain specified conditions occur.

Receivables

Receivables	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Receivables	Note 11 – Receivables June 30, 2019 December 31, 2018 Servicing-related receivables: Government-insured loan claims $ 103,631 $ 105,258 Due from NRZ: Sales and transfers of MSRs 25,575 23,757 Advance funding, subservicing fees and reimbursable expenses 15,102 30,845 Reimbursable expenses 15,557 11,508 Due from custodial accounts 14,235 9,060 Other 5,292 7,754 179,392 188,182 Income taxes receivable 37,768 45,987 Other receivables 23,096 17,672 240,256 251,841 Allowance for losses (52,271 ) (53,579 ) $ 187,985 $ 198,262 At June 30, 2019 and December 31, 2018 , the allowance for losses relates to receivables of our Servicing business. Allowance for losses related to defaulted FHA- or VA-insured loans repurchased from Ginnie Mae guaranteed securitizations and not subsequently sold to third-party investors (government-insured loan claims) was $50.5 million and $52.5 million at June 30, 2019 and December 31, 2018 , respectively. Allowance for Losses - Government-Insured Loan Claims Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Beginning balance $ 51,280 $ 57,593 $ 52,497 $ 53,340 Provision 4,561 8,658 11,806 19,034 Charge-offs and other, net (5,330 ) (13,096 ) (13,792 ) (19,219 ) Ending balance $ 50,511 $ 53,155 $ 50,511 $ 53,155

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2019
Other Assets [Abstract]
Other Assets	Note 12 – Other Assets June 30, 2019 December 31, 2018 Contingent loan repurchase asset $ 455,943 $ 302,581 Prepaid expenses 20,078 27,647 Prepaid representation, warranty and indemnification claims - Agency MSR sale 15,173 15,173 Deferred tax asset, net 6,304 5,289 REO 6,147 7,368 Derivatives, at fair value 4,223 4,552 Prepaid lender fees, net 4,162 6,589 Security deposits 2,296 2,278 Mortgage backed securities, at fair value 2,014 1,502 Interest-earning time deposits 401 1,338 Other 6,103 5,250 $ 522,844 $ 379,567

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Borrowings	Note 13 – Borrowings Match Funded Liabilities June 30, 2019 December 31, 2018 Borrowing Type Maturity (1) Amorti- zation Date (1) Available Borrowing Capacity (2) Weighted Average Interest Rate (3) Balance Weighted Average Interest Rate (3) Balance Advance Financing Facilities: Advance Receivables Backed Notes - Series 2015-VF5 (4) Dec. 2049 Dec. 2019 $ 110,684 3.96 % $ 114,316 4.06 % $ 216,559 Advance Receivables Backed Notes - Series 2016-T2 (5) Aug. 2049 Aug. 2019 — 2.99 235,000 2.99 235,000 Advance Receivables Backed Notes, Series 2018-T1 (5) Aug. 2049 Aug. 2019 — 3.50 150,000 3.50 150,000 Advance Receivables Backed Notes, Series 2018-T2 (5) Aug. 2050 Aug. 2020 — 3.81 150,000 3.81 150,000 Total Ocwen Master Advance Receivables Trust (OMART) 110,684 3.47 649,316 3.56 751,559 Ocwen Freddie Advance Funding (OFAF) - Advance Receivables Backed Notes, Series 2015-VF1 (6) Jun. 2050 Jun. 2020 37,520 4.12 22,480 5.03 26,725 $ 148,204 3.49 % $ 671,796 3.61 % $ 778,284 (1) The amortization date of our facilities is the date on which the revolving period ends under each advance facility note and repayment of the outstanding balance must begin if the note is not renewed or extended. The maturity date is the date on which all outstanding balances must be repaid. In all of our advance facilities, there are multiple notes outstanding. For each note, after the amortization date, all collections that represent the repayment of advances pledged to the facility must be applied ratably to each outstanding amortizing note to reduce the balance and as such the collection of advances allocated to the amortizing note may not be used to fund new advances. (2) Borrowing capacity under the OMART and OFAF facilities is available to us provided that we have sufficient eligible collateral to pledge in accordance with their respective terms. At June 30, 2019 , $23.5 million of the available borrowing capacity of our advance financing notes could be used based on the amount of eligible collateral that had been pledged. (3) 1ML was 2.40% and 2.50% at June 30, 2019 and December 31, 2018 , respectively. (4) The total borrowing capacity of the Series 2015-VF5 variable notes is $225.0 million , with interest computed based on the lender’s cost of funds plus a margin of 105 to 250 bps. (5) Under the terms of the agreement, we must continue to borrow the full amount of the Series 2016-T2, 2018-T1 and 2018-T2 fixed-rate term notes until the amortization date. If there is insufficient eligible collateral to support the level of borrowing, the excess cash proceeds in an amount necessary to make up the deficit are not distributed to Ocwen but are held by the trustee, and interest expense continues to be based on the full amount of the outstanding notes. The Series 2016-T2, 2018-T1 and 2018-T2 term notes have a total combined borrowing capacity of $535.0 million . Rates on the individual classes of notes range from 2.72% to 4.53% . (6) On June 6, 2019, we renewed this facility through June 5, 2020 and borrowing capacity was reduced from $65.0 million to $60.0 million with interest computed based on the lender’s cost of funds plus a margin of 100 to 330 bps based on the various classes of notes. Pursuant to the 2017 Agreements and New RMSR Agreements, NRZ is obligated to fund new servicing advances with respect to the MSRs underlying the Rights to MSRs. We are dependent upon NRZ for funding the servicing advance obligations for Rights to MSRs where we are the servicer. NRZ currently uses advance financing facilities in order to fund a substantial portion of the servicing advances that they are contractually obligated to purchase pursuant to our agreements with them. As of June 30, 2019 , we were the servicer of Rights to MSRs sold to NRZ pertaining to $19.8 billion in UPB, which excludes those Rights to MSRs where legal title has transferred to NRZ. NRZ’s associated outstanding servicing advances as of such date were approximately $715.5 million . Should NRZ’s advance financing facilities fail to perform as envisaged or should NRZ otherwise be unable to meet its advance funding obligations, our liquidity, financial condition and business could be materially and adversely affected. As the servicer, we are contractually required under our servicing agreements to make certain servicing advances even if NRZ does not perform its contractual obligations to fund those advances. See Note 10 — Rights to MSRs for additional information. In addition, although we are not an obligor or guarantor under NRZ’s advance financing facilities, we are a party to certain of the facility documents as the servicer of the underlying loans on which advances are being financed. As the servicer, we make certain representations, warranties and covenants, including representations and warranties in connection with advances subsequently sold to, or reimbursed by, NRZ. Financing Liabilities Outstanding Balance Borrowing Type Collateral Interest Rate Maturity June 30, 2019 December 31, 2018 HMBS-Related Borrowings, at fair value (1) Loans held for investment 1ML + 260 bps (1) $ 5,745,383 $ 5,380,448 Other Financing Liabilities MSRs pledged, at fair value: Original Rights to MSRs Agreements MSRs (2) (2) 412,909 436,511 2017 Agreements and New RMSR Agreements MSRs (3) (3) 88,103 138,854 PMC MSR Agreements MSRs (4) (4) 343,901 457,491 844,913 1,032,856 Secured Notes, Ocwen Asset Servicing Income Series, Series 2014-1 (5) MSRs (5) Feb. 2028 62,841 65,523 Financing liability - Owed to securitization investors, at fair value: IndyMac Mortgage Loan Trust (INDX 2004-AR11) (6) Loans held for investment (6) (6) 10,629 11,012 Residential Asset Securitization Trust 2003-A11 (RAST 2003-A11) (6) Loans held for investment (6) (6) 13,068 13,803 23,697 24,815 Advances pledged (7) Advances on loans (7) (7) — 4,419 Total Other Financing Liabilities 931,451 1,127,613 $ 6,676,834 $ 6,508,061 (1) Represents amounts due to the holders of beneficial interests in Ginnie Mae guaranteed HMBS. The beneficial interests have no maturity dates, and the borrowings mature as the related loans are repaid. (2) This financing liability has no contractual maturity or repayment schedule. The balance of the liability is adjusted each reporting period to its fair value based on the present value of the estimated future cash flows underlying the related MSRs. (3) This financing liability arose in connection with lump sum payments received upon transfer of legal title of the MSRs related to the Rights to MSRs transactions to NRZ in September 2017. In connection with the execution of the New RMSR Agreements in January 2018, we received a lump sum payment of $279.6 million as compensation for foregoing certain payments under the Original Rights to MSRs Agreements. The balance of the liability is adjusted each reporting period to its fair value based on the present value of the estimated future cash flows. The expected maturity of the liability is April 30, 2020, the date through which we were scheduled to be the servicer on loans underlying the Rights to MSRs per the Original Rights to MSRs Agreements. (4) Represents a liability for sales of MSRs that are accounted for as a secured borrowing which we assumed in connection with the acquisition of PHH. Under this accounting treatment, the MSRs transferred to NRZ remain on the consolidated balance sheet and the proceeds from the sale are recognized as a secured liability. We elected to record the liability at fair value consistent with the related MSRs. (5) OASIS noteholders are entitled to receive a monthly payment equal to the sum of: (a) 21 basis points of the UPB of the reference pool of Freddie Mac mortgages; (b) any termination payment amounts; (c) any excess refinance amounts; and (d) the note redemption amounts, each as defined in the indenture supplement for the notes. Monthly amortization of the liability is estimated using the proportion of monthly projected service fees on the underlying MSRs as a percentage of lifetime projected fees, adjusted for the term of the notes. (6) Consists of securitization debt certificates due to third parties that represent beneficial interests in trusts that we include in our unaudited consolidated financial statements, as more fully described in Note 4 – Securitizations and Variable Interest Entities . The holders of these certificates have no recourse against the assets of Ocwen. The certificates in the INDX 2004-AR11 Trust pay interest based on variable rates which are generally based on weighted average net mortgage rates and which range between 3.70% and 4.29% at June 30, 2019 . The certificates in the RAST 2003-A11 Trust pay interest based on fixed rates ranging between 4.25% and 5.75% and a variable rate based on 1ML plus 0.45% . The maturity of the certificates occurs upon maturity of the loans held by the trust. The remaining loans in the INDX 2004-AR11 Trust and RAST 2003-A11 Trust have maturity dates extending through November 2034 and October 2033, respectively. (7) Certain sales of advances did not qualify for sales accounting treatment and were accounted for as a financing. This financing liability has no contractual maturity. The effective interest rate is based on 1ML plus a margin of 450 bps. Other Secured Borrowings Outstanding Balance Borrowing Type Collateral Interest Rate Termination / Maturity Available Borrowing Capacity (1) June 30, 2019 December 31, 2018 SSTL (2) (2) 1-Month Euro-dollar rate + 500 bps with a Eurodollar floor of 100 bps (2) Dec. 2020 $ — $ 338,784 $ 231,500 Mortgage loan warehouse facilities Repurchase agreement (3) Loans held for sale (LHFS) 1ML + 195 - 300 bps Sep. 2019 — 109,807 74,693 Participation agreement (4) LHFS N/A Jul. 2019 — — 42,331 Mortgage warehouse agreement (5) LHFS (reverse mortgages) 1ML + 275 bps; 1ML floor of 350 bps Aug. 2019 — 9,630 8,009 Master repurchase agreement (6) LHFS (forward and reverse mortgages) 1ML + 225 bps forward; 1ML + 275 bps reverse Dec. 2019 165,425 34,575 30,680 Master repurchase agreement (7) LHFS (reverse mortgages) Prime + 0.0% (4.0% floor) Jan. 2020 — 439 — Master repurchase agreement (8) N/A 1ML + 170bps N/A — — — Participation agreement (9) LHFS N/A Feb. 2020 — 28,478 — 165,425 182,929 155,713 $ 165,425 521,713 387,213 Unamortized debt issuance costs - SSTL (3,456 ) (3,098 ) Discount - SSTL (1,776 ) (1,577 ) $ 516,481 $ 382,538 Weighted average interest rate 5.22 % 5.49 % (1) Available borrowing capacity for our mortgage loan warehouse facilities does not consider the amount of the facility that the lender has extended on an uncommitted basis. Of the borrowing capacity extended on a committed basis, none could be used at June 30, 2019 based on the amount of eligible collateral that could be pledged. (2) On March 18, 2019, we entered into a Joinder and Amendment Agreement (the Amendment) which amends the existing Amended and Restated SSTL Facility Agreement dated December 5, 2016 to provide an additional term loan of $120.0 million subject to the same maturity, interest rate and other material terms of existing borrowings under the SSTL. Effective with the Amendment, the quarterly principal payment has been increased from $4.2 million to $6.4 million beginning March 31, 2019. See information regarding collateral in the table below. Borrowings bear interest, at the election of Ocwen, at a rate per annum equal to either (a) the base rate (the greatest of (i) the prime rate in effect on such day, (ii) the federal funds rate in effect on such day plus 0.50% and (iii) 1ML, plus a margin of 4.00% and subject to a base rate floor of 2.00% or (b) 1ML, plus a margin of 5.00% and subject to a 1ML floor of 1.00% . To date, we have elected option (b) to determine the interest rate. (3) The maximum borrowing under this agreement is $175.0 million , of which $100.0 million is available on a committed basis and the remainder is available at the discretion of the lender. (4) Effective with the merger of Homeward into PMC in February 2019, an existing participation agreement with uncommitted borrowing capacity of $75.0 million was terminated. Effective with the merger of OLS into PMC in June 2019, the remaining participation agreement with uncommitted borrowing capacity of $175.0 million was also terminated. (5) Under this participation agreement, the lender provides financing for $100.0 million on an uncommitted basis. The participation agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing. (6) The maximum borrowing under this agreement is $250.0 million , of which $200.0 million is available on a committed basis and the remainder is available on an uncommitted basis. The agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing. (7) Under this agreement, t he lender provides financing for up to $50.0 million on an uncommitted basis. On January 23, 2019, we renewed this facility through January 22, 2020. (8) This agreement was originally entered into by PHH and subsequently assumed by Ocwen in connection with its acquisition of PHH. T he facility provides financing for up to $200.0 million at the discretion of the provider. The agreement has no stated maturity date. (9) We entered into a master participation agreement on February 4, 2019 under which the lender will provide $300.0 million of borrowing capacity to PMC on an uncommitted basis. The participation agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing. The lender earns the stated interest rate of the underlying mortgage loans while the loans are financed under the participation agreement. Senior Notes Interest Rate Maturity Outstanding Balance June 30, 2019 December 31, 2018 Senior unsecured notes (1) PHH 7.375% Sep. 2019 $ 97,521 $ 97,521 PHH 6.375% Aug. 2021 21,543 21,543 119,064 119,064 Senior secured notes 8.375% Nov. 2022 330,878 330,878 449,942 449,942 Unamortized debt issuance costs (1,825 ) (2,075 ) Fair value adjustments (1) (540 ) 860 $ 447,577 $ 448,727 (1) These notes were originally issued by PHH and subsequently assumed by Ocwen in connection with its acquisition of PHH. We recorded the notes at their respective fair values on the date of acquisition, and we are amortizing the resulting fair value purchase accounting adjustments over the remaining term of the notes. We have the option to redeem the notes due in August 2021, in whole or in part, on or after January 1, 2019 at a redemption price equal to 100.0% of the principal amount plus any accrued and unpaid interest. At any time, we may redeem all or a part of the 8.375% Senior secured notes, upon not less than 30 nor more than 60 days’ notice at a specified redemption price, plus accrued and unpaid interest to the date of redemption. We may redeem all or a part of these notes at the redemption prices (expressed as percentages of principal amount) specified in the Indenture. The redemption prices during the twelve-month periods beginning on November 15 th of each year are as follows: Year Redemption Price 2018 106.281% 2019 104.188% 2020 102.094% 2021 and thereafter 100.000% Upon a change of control (as defined in the Indenture), we are required to make an offer to the holders of the 8.375% Senior secured notes to repurchase all or a portion of each holder’s notes at a purchase price equal to 101.0% of the principal amount of the notes purchased plus accrued and unpaid interest to the date of purchase. Credit Ratings Credit ratings are intended to be an indicator of the creditworthiness of a company’s debt obligations. At June 30, 2019 , the S&P issuer credit rating for Ocwen was “B-”. On December 11, 2018, Moody’s affirmed Ocwen’s corporate family rating of “Caa1” and revised the outlook to stable from negative. On June 1, 2019, OLS, the borrower under the SSTL and 8.375% Senior secured notes, merged with PMC which became the successor obligor for these borrowings. As a result, on July 3, 2019, S&P withdrew the ratings of OLS and assigned a B- issuer credit rating to PMC. It is possible that additional actions by credit rating agencies could have a material adverse impact on our liquidity and funding position, including materially changing the terms on which we may be able to borrow money. Covenants Under the terms of our debt agreements, we are subject to various qualitative and quantitative covenants. Collectively, these covenants include: • Financial covenants; • Covenants to operate in material compliance with applicable laws; • Restrictions on our ability to engage in various activities, including but not limited to incurring additional forms of debt, paying dividends or making distributions on or purchasing equity interests of Ocwen, repurchasing or redeeming capital stock or junior capital, repurchasing or redeeming subordinated debt prior to maturity, issuing preferred stock, selling or transferring assets or making loans or investments or acquisitions or other restricted payments, entering into mergers or consolidations or sales of all or substantially all of the assets of Ocwen and its subsidiaries, creating liens on assets to secure debt of any guarantor, entering into transactions with affiliates; • Monitoring and reporting of various specified transactions or events, including specific reporting on defined events affecting collateral underlying certain debt agreements; and • Requirements to provide audited financial statements within specified timeframes, including requirements that Ocwen’s financial statements and the related audit report be unqualified as to going concern. Many of the restrictive covenants arising from the indenture for the Senior Secured Notes will be suspended if the Senior Secured Notes achieve an investment-grade rating from both Moody’s and S&P and if no default or event of default has occurred and is continuing. Financial covenants in certain of our debt agreements require that we maintain, among other things: • a 40% loan to collateral value ratio, as defined under our SSTL, as of the last date of any fiscal quarter; and • specified levels of tangible net worth and liquidity at the consolidated Ocwen level. As of June 30, 2019 , the most restrictive consolidated tangible net worth requirements contained in our debt agreements were for a minimum of $275.0 million in consolidated tangible net worth, as defined, at Ocwen under our match funded debt and certain of our other debt agreements. As a result of the covenants to which we are subject, we may be limited in the manner in which we conduct our business and may be limited in our ability to engage in favorable business activities or raise additional forms of capital to finance future operations or satisfy future liquidity needs. In addition, breaches or events that may result in a default under our debt agreements include, among other things, nonpayment of principal or interest, noncompliance with our covenants, breach of representations, the occurrence of a material adverse change, insolvency, bankruptcy, certain material judgments and changes of control. Covenants and default provisions of this type are commonly found in debt agreements such as ours. Certain of these covenants and default provisions are open to subjective interpretation and, if our interpretation was contested by a lender, a court may ultimately be required to determine compliance or lack thereof. In addition, our debt agreements generally include cross default provisions such that a default under one agreement could trigger defaults under other agreements. If we fail to comply with our debt agreements and are unable to avoid, remedy or secure a waiver of any resulting default, we may be subject to adverse action by our lenders, including termination of further funding, acceleration of outstanding obligations, enforcement of liens against the assets securing or otherwise supporting our obligations and other legal remedies. Our lenders can waive their contractual rights in the event of a default. We believe that we are in compliance with all of the qualitative and quantitative covenants in our debt agreements as of the date of these financial statements. Collateral Our assets held as collateral related to secured borrowings, committed under sale or other contractual obligations and which may be subject to secured liens under the SSTL and Senior Secured Notes are as follows at June 30, 2019 : Collateral for Secured Borrowings Total Assets Match Funded Liabilities Financing Liabilities Mortgage Loan Warehouse Facilities Sales and Other Commitments (1) Other (2) Cash $ 287,724 $ — $ — $ — $ — $ 287,724 Restricted cash 60,708 15,488 — 4,100 41,120 — MSRs 1,312,633 — 824,442 — — 488,191 Advances, net 229,167 — — — 30,757 198,410 Match funded advances 875,332 875,332 — — — — Loans held for sale 196,071 — — 151,878 — 44,193 Loans held for investment 5,897,731 — 5,818,251 38,483 — 40,997 Receivables, net 187,985 — — 35,903 — 152,082 Premises and equipment, net 57,598 — — — — 57,598 Other assets 522,844 — — 4,000 473,412 45,432 Total assets $ 9,627,793 $ 890,820 $ 6,642,693 $ 234,364 $ 545,289 $ 1,314,627 (1) Sales and Other Commitments include MSRs and related advances committed under sale agreements, Restricted cash and deposits held as collateral to support certain contractual obligations, and Contingent loan repurchase assets related to the Ginnie Mae EBO program for which a corresponding liability is recognized in Other liabilities. (2) The borrowings under the SSTL are secured by a first priority security interest in substantially all of the assets of Ocwen, PHH, PMC and the other guarantors thereunder, excluding among other things, 35% of the voting capital stock of foreign subsidiaries, securitization assets and equity interests of securitization entities, assets securing permitted funding indebtedness and non-recourse indebtedness, REO assets, Agency MSRs with respect to which an acknowledgment agreement acknowledging such security interest has not been obtained, as well as other customary carve-outs (collectively, the Collateral). The Collateral is subject to certain permitted liens set forth under the SSTL and related security agreement. The Senior Secured Notes are guaranteed by Ocwen and the other guarantors that guarantee the SSTL, and the borrowings under the Senior Secured Notes are secured by a second priority security interest in the Collateral. Security interests securing borrowings under the SSTL and Senior Secured Notes may include amounts presented in Other as well as certain assets presented in Collateral for Secured Borrowings and Sales and Other Commitments, subject to permitted liens as defined in the applicable debt documents. The amounts presented here may differ in their calculation and are not intended to represent amounts that may be used in connection with covenants under the applicable debt documents.

Other Liabilities

Other Liabilities	6 Months Ended
	Jun. 30, 2019
Other Liabilities Disclosure [Abstract]
Other Liabilities	Note 14 – Other Liabilities June 30, 2019 December 31, 2018 Contingent loan repurchase liability $ 455,943 $ 302,581 Other accrued expenses 76,851 99,739 Lease liability 55,489 — Accrued legal fees and settlements 53,072 62,763 Due to NRZ - Advance collections and servicing fees 46,956 53,001 Servicing-related obligations 45,850 41,922 Liability for indemnification obligations 44,681 51,574 Checks held for escheat 35,232 20,686 Liability for uncertain tax positions 12,942 13,739 Liability for unfunded pension obligation 12,400 12,683 Accrued interest payable 9,045 7,209 Liability for mortgage insurance contingency 6,820 6,820 Derivatives, at fair value 3,934 4,986 Deferred revenue 3,210 4,441 Other 29,786 21,492 $ 892,211 $ 703,636 Accrued Legal Fees and Settlements Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Beginning balance $ 52,916 $ 46,305 $ 62,763 $ 51,057 Net accrual (reversal of accrual) for probable losses(1) (465 ) 2,330 (1,096 ) 9,782 Payments (2) (1,100 ) (1,607 ) (10,507 ) (7,643 ) Issuance of common stock in settlement of litigation(3) — — — (5,719 ) Net increase in accrued legal fees 1,657 5,031 1,848 4,732 Other 64 2,236 64 2,086 Ending balance $ 53,072 $ 54,295 $ 53,072 $ 54,295 (1) Consists of amounts accrued for probable losses in connection with legal and regulatory settlements and judgments. Such amounts are reported in Professional services expense in the unaudited consolidated statements of operations. (2) Includes cash payments made in connection with resolved legal and regulatory matters. (3) In January 2018, Ocwen issued 1,875,000 shares of common stock in connection with a securities litigation settlement.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	Note 15 – Derivative Financial Instruments and Hedging Activities The following table summarizes derivative activity, including the derivatives used in each of our identified hedging programs. The notional amount of our contracts does not represent our exposure to credit loss. None of the derivatives were designated as a hedge for accounting purposes at June 30, 2019 : Interest Rate Risk IRLCs and Loans Held for Sale Borrowings IRLCs Forward MBS Trades Interest Rate Caps Notional balance at June 30, 2019 $ 118,099 $ 126,762 $ 122,083 Maturity July 2019 - Sept. 2019 July 2019 Aug. 2019 - May 2020 Fair value of derivative assets (liabilities) (1) at: June 30, 2019 $ 4,105 $ (3,863 ) $ 47 December 31, 2018 3,871 (4,983 ) 678 Gains (losses) on derivatives during the six months ended: Gain on loans held for sale, net Other, Net June 30, 2019 $ (296 ) $ (3,238 ) $ (335 ) June 30, 2018 111 1,998 (78 ) (1) Derivatives are reported at fair value in Other assets or in Other liabilities on our unaudited consolidated balance sheets. As loans are originated and sold or as loan commitments expire, our forward MBS trade positions mature and are replaced by new positions based upon new loan originations and commitments and expected time to sell. Foreign Currency Exchange Rate Risk Our operations in India and the Philippines expose us to foreign currency exchange rate risk to the extent that our foreign exchange positions remain unhedged. We have not entered into any forward exchange contracts during the reported periods to hedge against the effect of changes in the value of the India Rupee or Philippine Peso. Foreign currency remeasurement exchange gains (losses) were $(0.1) million and $0.1 million , and $(1.9) million and $(2.7) million , during the three and six months ended June 30, 2019 and 2018 , respectively, and are reported in Other, net in the unaudited consolidated statements of operations. The losses in the 2018 periods are primarily attributed to depreciation of the India Rupee against the U.S. Dollar. Interest Rate Risk Interest Rate Lock Commitments A loan commitment binds us (subject to the loan approval process) to fund the loan at the specified rate, regardless of whether interest rates have changed between the commitment date and the loan funding date. As such, outstanding IRLCs are subject to interest rate risk and related price risk during the period from the date of the commitment through the loan funding date or expiration date. The borrower is not obligated to obtain the loan; thus, we are subject to fallout risk related to IRLCs, which is realized if approved borrowers choose not to close on the loans within the terms of the IRLCs. Our interest rate exposure on these derivative loan commitments is hedged with freestanding derivatives such as forward contracts. We enter into forward contracts with respect to both fixed and variable rate loan commitments. Loans Held for Sale, at Fair Value Mortgage loans held for sale that we carry at fair value are subject to interest rate and price risk from the loan funding date until the date the loan is sold into the secondary market. Generally, the fair value of a loan will decline in value when interest rates increase and will rise in value when interest rates decrease. To mitigate this risk, we enter into forward MBS trades to provide an economic hedge against those changes in fair value on mortgage loans held for sale. Forward MBS trades are primarily used to fix the forward sales price that will be realized upon the sale of mortgage loans into the secondary market. Match Funded Liabilities As required by certain of our advance financing arrangements, we have purchased interest rate caps to minimize future interest rate exposure from increases in the interest on our variable rate debt as a result of increases in the index, such as 1ML, which is used in determining the interest rate on the debt. We currently do not hedge our fixed rate debt. Accumulated Other Comprehensive Loss (AOCL) Included in AOCL at June 30, 2019 and 2018 , were $1.0 million and $1.1 million of deferred unrealized losses, before taxes of $0.1 million and $0.1 million , respectively, on interest rate swaps that we had designated as cash flow hedges. These deferred losses in AOCL are amortized to Other, net in the unaudited consolidated statements of operations.

Interest Expense

Interest Expense	6 Months Ended
	Jun. 30, 2019
Other Income and Expenses [Abstract]
Interest Expense	Note 16 – Interest Expense Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Financing liabilities NRZ $ 2,930 $ 51,490 $ 46,885 $ 74,539 Other financing liabilities 822 1,349 1,892 2,544 3,752 52,839 48,777 77,083 Senior notes 8,502 7,452 17,014 14,903 Other secured borrowings 9,245 8,044 17,123 16,232 Match funded liabilities 7,045 7,714 14,697 17,262 Other 3,027 1,454 4,405 2,833 $ 31,571 $ 77,503 $ 102,016 $ 128,313

Basic and Diluted Earnings (Los

Basic and Diluted Earnings (Loss) per Share	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Basic and Diluted Earnings (Loss) per Share	Note 17 – Basic and Diluted Earnings (Loss) per Share Basic earnings or loss per share excludes common stock equivalents and is calculated by dividing net income or loss attributable to Ocwen common stockholders by the weighted average number of common shares outstanding during the period. We calculate diluted earnings or loss per share by dividing net income or loss attributable to Ocwen by the weighted average number of common shares outstanding including the potential dilutive common shares related to outstanding stock options and restricted stock awards. For the three and six months ended June 30, 2019 and 2018 , we have excluded the effect of all stock options and common stock awards from the computation of diluted loss per share because of the anti-dilutive effect of our reported net loss. Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Basic and Diluted loss per share Net loss attributable to Ocwen stockholders $ (89,737 ) $ (29,831 ) $ (134,231 ) $ (27,283 ) Weighted average shares of common stock — basic and diluted 134,465,741 133,856,132 134,193,874 133,490,828 Basic and Diluted loss per share $ (0.67 ) $ (0.22 ) $ (1.00 ) $ (0.20 ) Stock options and common stock awards excluded from the computation of diluted earnings per share Anti-dilutive (1) 4,107,485 6,492,703 4,126,819 6,498,025 Market-based (2) 854,181 645,984 854,181 645,984 (1) Includes stock options that are anti-dilutive because their exercise price was greater than the average market price of Ocwen’s stock, and stock awards that are anti-dilutive based on the application of the treasury stock method. (2) Shares that are issuable upon the achievement of certain market-based performance criteria related to Ocwen’s stock price.

Business Segment Reporting

Business Segment Reporting	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Business Segment Reporting	Note 18 – Business Segment Reporting Our business segments reflect the internal reporting that we use to evaluate operating performance of services and to assess the allocation of our resources. A brief description of our current business segments is as follows: Servicing. This segment is primarily comprised of our core residential mortgage servicing business and currently accounts for most of our total revenues. We provide residential and commercial mortgage loan servicing, special servicing and asset management services. We earn fees for providing these services to owners of the mortgage loans and foreclosed real estate. In most cases, we provide these services either because we purchased the MSRs from the owner of the mortgage, retained the MSRs on the sale of residential mortgage loans or because we entered into a subservicing or special servicing agreement with the entity that owns the MSR. Our residential servicing portfolio includes conventional, government-insured and non-Agency loans. Non-Agency loans include subprime loans, which represent residential loans that generally did not qualify under GSE guidelines or have subsequently become delinquent. Lending. The Lending segment purchases and originates conventional and government-insured residential forward and reverse mortgage loans. The loans are typically sold shortly after origination into a liquid market on a servicing retained (securitization) or servicing released (sale to a third party) basis. We originate loans directly with customers (retail channel) in forward lending as well as through our correspondent lending arrangements, broker relationships (wholesale) and retail channels of reverse mortgage lending. Corporate Items and Other. Corporate Items and Other includes revenues and expenses of corporate support services, CR Limited (CRL), our wholly-owned captive reinsurance subsidiary, discontinued operations and inactive entities, business activities that are individually insignificant, revenues and expenses that are not directly related to other reportable segments, interest income on short-term investments of cash and interest expense on corporate debt. Corporate Items and Other also includes severance, retention, facility-related and other expenses incurred in 2019 related to our re-engineering plan. Our cash balances are included in Corporate Items and Other. CRL provides re-insurance related to coverage on foreclosed real estate properties owned or serviced by us. We allocate a portion of interest income to each business segment, including interest earned on cash balances and short-term investments. We also allocate expenses incurred by corporate support services to each business segment. Interest expense on direct asset financings are recorded in the respective Servicing and Lending segments, while interest expense on the SSTL and Senior Notes is recorded in Corporate Items and Other and is not allocated. Financial information for our segments is as follows: Three Months Ended June 30, 2019 Results of Operations Servicing Lending Corporate Items and Other Corporate Eliminations Business Segments Consolidated Revenue $ 242,510 $ 28,794 $ 3,034 $ — $ 274,338 Expenses (1) 290,087 21,026 20,381 — 331,494 Other income (expense): Interest income 1,872 1,546 419 — 3,837 Interest expense (14,191 ) (1,399 ) (15,981 ) — (31,571 ) Bargain purchase gain — — (96 ) (96 ) Other 890 444 (681 ) — 653 Other income (expense), net (11,429 ) 591 (16,339 ) — (27,177 ) Income (loss) before income taxes $ (59,006 ) $ 8,359 $ (33,686 ) $ — $ (84,333 ) Three Months Ended June 30, 2018 Results of Operations Servicing Lending Corporate Items and Other Corporate Eliminations Business Segments Consolidated Revenue $ 230,509 $ 19,002 $ 4,070 $ — $ 253,581 Expenses (1) 166,888 17,785 20,977 — 205,650 Other income (expense): Interest income 1,466 1,360 529 — 3,355 Interest expense (62,675 ) (1,472 ) (13,356 ) — (77,503 ) Other (326 ) 294 (2,156 ) — (2,188 ) Other income (expense), net (61,535 ) 182 (14,983 ) — (76,336 ) Income (loss) before income taxes $ 2,086 $ 1,399 $ (31,890 ) $ — $ (28,405 ) Six months ended June 30, 2019 Revenue $ 501,784 $ 69,885 $ 6,557 $ — $ 578,226 Expenses (1) (2) 555,984 42,357 13,258 — 611,599 Other income (expense): Interest income 4,165 3,095 1,135 — 8,395 Interest expense (68,889 ) (3,067 ) (30,060 ) — (102,016 ) Bargain purchase gain — — (381 ) — (381 ) Other 2,416 663 (1,121 ) — 1,958 Other income (expense), net (62,308 ) 691 (30,427 ) — (92,044 ) Income (loss) before income taxes $ (116,508 ) $ 28,219 $ (37,128 ) $ — $ (125,417 ) Six months ended June 30, 2018 Revenue $ 456,605 $ 48,197 $ 9,036 $ — $ 513,838 Expenses (1) 337,984 38,081 36,086 — 412,151 Other income (expense): Interest income 1,894 2,852 1,309 — 6,055 Interest expense (97,193 ) (3,417 ) (27,703 ) — (128,313 ) Other (754 ) 620 (2,735 ) — (2,869 ) Other income (expense), net (96,053 ) 55 (29,129 ) — (125,127 ) Income (loss) before income taxes $ 22,568 $ 10,171 $ (56,179 ) $ — $ (23,440 ) Total Assets Servicing Lending Corporate Items and Other Corporate Eliminations Business Segments Consolidated June 30, 2019 $ 3,195,218 $ 5,978,325 $ 454,250 $ — $ 9,627,793 December 31, 2018 $ 3,306,208 $ 5,603,481 $ 484,527 $ — $ 9,394,216 June 30, 2018 $ 2,851,910 $ 5,242,716 $ 325,570 $ — $ 8,420,196 Depreciation and Amortization Expense Servicing Lending Corporate Items and Other Business Segments Consolidated Three months ended June 30, 2019 Depreciation expense $ 761 $ 46 $ 10,205 $ 11,012 Amortization of debt discount — — 350 350 Amortization of debt issuance costs — — 751 751 Three months ended June 30, 2018 Depreciation expense $ 1,256 $ 25 $ 4,834 $ 6,115 Amortization of debt discount — — 442 442 Amortization of debt issuance costs — — 1,005 1,005 Six months ended June 30, 2019 Depreciation expense $ 1,569 $ 81 $ 17,913 $ 19,563 Amortization of debt discount — — 701 701 Amortization of debt issuance costs — — 1,451 1,451 Six months ended June 30, 2018 Depreciation expense $ 2,613 $ 54 $ 9,973 $ 12,640 Amortization of debt discount — — 706 706 Amortization of debt issuance costs — — 1,662 1,662 (1) Compensation and benefits expense in the Corporate Items and Other segment for the three and six months ended June 30, 2019 and 2018 includes $0.8 million and $19.2 million , and $1.6 million , and $7.3 million , respectively, of severance expense attributable to PHH integration-related headcount reductions of primarily U.S.-based employees in 2019 and headcount reductions in connection with our strategic decisions to exit the automotive capital services business and the forward lending correspondent and wholesale channels in late 2017 and early 2018, as well as our overall efforts to reduce costs. (2) Included in the Corporate Items and Other segment for the six months ended June 30, 2019 , we recorded in Professional services expense a recovery from a service provider of $30.7 million during the first quarter of 2019 of amounts previously recognized as expense.

Regulatory Requirements

Regulatory Requirements	6 Months Ended
	Jun. 30, 2019
Brokers and Dealers [Abstract]
Regulatory Requirements	Note 19 – Regulatory Requirements Our business is subject to extensive regulation by federal, state and local governmental authorities, including the Consumer Financial Protection Bureau (CFPB), HUD, the SEC and various state agencies that license and conduct examinations of our servicing and lending activities. In addition, we operate under a number of regulatory settlements that subject us to ongoing reporting and other obligations. From time to time, we also receive requests (including requests in the form of subpoenas and civil investigative demands) from federal, state and local agencies for records, documents and information relating to our servicing and lending activities. The GSEs (and their conservator, the Federal Housing Finance Authority (FHFA)), Ginnie Mae, the United States Treasury Department, various investors, non-Agency securitization trustees and others also subject us to periodic reviews and audits. In the current regulatory environment, we have faced and expect to continue to face heightened regulatory and public scrutiny as an organization as well as stricter and more comprehensive regulation of the entire mortgage sector. We continue to work diligently to assess and understand the implications of the evolving regulatory environment in which we operate and to meet its requirements. We devote substantial resources to regulatory compliance, while, at the same time, striving to meet the needs and expectations of our customers, clients and other stakeholders. Our failure to comply with applicable federal, state and local laws, regulations and licensing requirements could lead to (i) administrative fines and penalties and litigation, (ii) loss of our licenses and approvals to engage in our servicing and lending businesses, (iii) governmental investigations and enforcement actions, (iv) civil and criminal liability, including class action lawsuits and actions to recover incentive and other payments made by governmental entities, (v) breaches of covenants and representations under our servicing, debt or other agreements, (vi) damage to our reputation, (vii) inability to raise capital or otherwise fund our operations and (viii) inability to execute on our business strategy. In addition to amounts paid to resolve regulatory matters, we could incur costs to comply with the terms of such resolutions, including, but not limited to, the costs of audits, reviews and third-party firms to monitor our compliance with such resolutions. We must comply with a large number of federal, state and local consumer protection and other laws and regulations, including, among others, the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act), the Telephone Consumer Protection Act (TCPA), the Gramm-Leach-Bliley Act, the Fair Debt Collection Practices Act, the Real Estate Settlement Procedures Act (RESPA), the Truth in Lending Act (TILA), the Servicemembers Civil Relief Act, the Homeowners Protection Act, the Federal Trade Commission Act, the Fair Credit Reporting Act, the Equal Credit Opportunity Act, as well as individual state licensing and foreclosure laws, individual state and local laws relating to registration of vacant or foreclosed properties, and federal and local bankruptcy rules. These laws and regulations apply to many facets of our business, including loan origination, default servicing and collections, use of credit reports, safeguarding of non-public personally identifiable information about our customers, foreclosure and claims handling, investment of, and interest payments on, escrow balances and escrow payment features and fees assessed on borrowers, and they mandate certain disclosures and notices to borrowers. These requirements can and do change as laws and regulations are enacted, promulgated, amended, interpreted and enforced, including through CFPB interpretive bulletins and other regulatory pronouncements. In addition, the actions of legislative bodies and regulatory agencies relating to a particular matter or business practice may or may not be coordinated or consistent. As a result, ensuring ongoing compliance with applicable legal and regulatory requirements can be challenging. Over the past decade, the general trend among federal, state and local legislative bodies and regulatory agencies as well as state attorneys general has been toward increasing laws, regulations, investigative proceedings and enforcement actions with regard to residential real estate lenders and servicers. New regulatory and legislative measures, or changes in enforcement practices, including those related to the technology we use, could, either individually or in the aggregate, require significant changes to our business practices, impose additional costs on us, limit our product offerings, limit our ability to efficiently pursue business opportunities, negatively impact asset values or reduce our revenues. Accordingly, they could materially and adversely affect our business and our financial condition, liquidity and results of operations. As further described below and in Note 21 – Contingencies , in recent years Ocwen has entered into a number of significant settlements with federal and state regulators and state attorneys general that have imposed additional requirements on our business. For example, we made various commitments relating to the process of transferring loans off the REALServicing servicing system and onto Black Knight MSP, we have engaged a third-party auditor to perform an analysis with respect to our compliance with certain federal and state laws relating to the escrow of mortgage loan payments, we have revised various aspects of our complaint handling processes and we have extensive review and reporting obligations to various regulatory bodies with respect to various matters, including our financial condition. We devote significant management time and resources to compliance with these additional requirements. These requirements are generally unique to Ocwen and, while certain of our competitors may have entered into regulatory-related settlements of their own, our competitors are generally not subject to either the same specific or the same breadth of additional requirements to which we are subject. Ocwen has various subsidiaries that are licensed to originate and/or service forward and reverse mortgage loans in those jurisdictions in which they operate, and which require licensing. Our licensed entities are required to renew their licenses, typically on an annual basis, and to do so they must satisfy the license renewal requirements of each jurisdiction, which generally include financial requirements such as providing audited financial statements and satisfying minimum net worth requirements and non-financial requirements such as satisfactory completion of examinations relating to the licensee’s compliance with applicable laws and regulations. Failure to satisfy any of the requirements to which our licensed entities are subject could result in a variety of regulatory actions ranging from a fine, a directive requiring a certain step to be taken, entry into a consent order, a suspension or, ultimately, a revocation of a license, any of which could have a material adverse impact on our business, reputation, results of operations and financial condition. The minimum net worth requirements to which our licensed entities are subject are unique to each state and type of license. We believe our licensed entities were in compliance with all of their minimum net worth requirements at June 30, 2019 . PMC and Liberty are also subject to seller/servicer obligations under agreements with one or more of the GSEs, HUD, FHA, VA and Ginnie Mae. These seller/servicer obligations contain financial requirements, including capital requirements related to tangible net worth, as defined by the applicable agency, an obligation to provide audited consolidated financial statements within 90 days of the applicable entity’s fiscal year end as well as extensive requirements regarding servicing, selling and other matters. To the extent that these requirements are not met or waived, the applicable agency may, at its option, utilize a variety of remedies including requirements to provide certain information or take actions at the direction of the applicable agency, requirements to deposit funds as security for our obligations, sanctions, suspension or even termination of approved seller/servicer status, which would prohibit future originations or securitizations of forward or reverse mortgage loans or servicing for the applicable agency. Any of these actions could have a material adverse impact on us. To date, none of these counterparties has communicated any material sanction, suspension or prohibition in connection with our seller/servicer obligations. We believe we were in compliance with applicable net worth requirements at June 30, 2019 . Our non-Agency servicing agreements also contain requirements regarding servicing practices and other matters, and a failure to comply with these requirements could have a material adverse impact on our business. The most restrictive of the various net worth requirements referenced above is based on the total assets of PMC, and the required net worth was $214.6 million at June 30, 2019 . In addition, a number of foreign laws and regulations apply to our operations outside of the U.S., including laws and regulations that govern licensing, employment, safety, taxes and insurance and laws and regulations that govern the creation, continuation and the winding up of companies as well as the relationships between shareholders, our corporate entities, the public and the government in these countries. Non-compliance with these laws and regulations could result in adverse actions against us, including (i) restrictions on our operations in these countries, (ii) fines, penalties or sanctions or (iii) reputational damage. New York Department of Financial Services. In March 2017, we entered into a consent order with the NY DFS (the 2017 NY Consent Order) that provided for the termination of the engagement of a monitor appointed pursuant to an earlier 2014 consent order and for us to address certain concerns raised by the NY DFS that primarily relate to our servicing operations, as well as for us to comply with certain reporting and other obligations. In addition, in connection with the NY DFS’ approval in September 2018, of our acquisition of PHH, we agreed to satisfy certain post-closing requirements, including reporting obligations and record retention and other requirements relating to the transfer of loans collateralized by New York property (New York loans) onto Black Knight MSP and certain requirements with respect to the evaluation and supervision of management of both Ocwen Financial Corporation and PHH Mortgage Corporation. In addition, we are prohibited from boarding any additional loans onto the current REALServicing system and we were required to transfer all New York loans off the REALServicing system by April 30, 2020. The conditional approval also modified a preexisting restriction on our ability to acquire MSRs such that the restriction applies only to New York loans and, with respect to New York loans, provides that Ocwen may not increase its aggregate portfolio of New York loans serviced or subserviced by Ocwen by more than 2% per year (based on the unpaid principal balance of loans serviced at the prior calendar year-end). This restriction will remain in place until the NY DFS determines that all loans serviced on the REALServicing system have been successfully migrated to Black Knight MSP and that Ocwen has developed a satisfactory infrastructure to board sizable portfolios of MSRs. We continue to work with the NY DFS to address matters they continue to raise with us as well as to fulfill our commitments under the 2017 NY Consent Order and PHH acquisition conditional approval. To the extent that we fail to address adequately any concerns raised by the NY DFS or fail to fulfill our commitments to the NY DFS, the NY DFS could take regulatory action against us, including imposing fines or penalties or otherwise restricting our business activities. Any such actions could have a material adverse impact on our business, financial condition liquidity and results of operations. California Department of Business Oversight . In January 2015, OLS entered into a consent order (the 2015 CA Consent Order) with the CA DBO relating to our alleged failure to produce certain information and documents during a routine licensing examination. In February 2017, we entered into another consent order with the CA DBO (the 2017 CA Consent Order) that terminated the 2015 CA Consent Order and resolved open matters between us and the CA DBO. We believe that we have completed those obligations of the 2017 CA Consent Order that have already come due, and we have so notified the CA DBO. We have certain remaining reporting and other obligations under the 2017 CA Consent Order. Pursuant to the 2017 CA Consent Order, the CA DBO has engaged a third-party administrator who, at the expense of the CA DBO, has commenced work to confirm that Ocwen has completed certain commitments under the 2017 CA Consent Order. Still outstanding, however, is confirmation of our completion of $198.0 million in debt forgiveness for California borrowers by June 30, 2019. We believe that we fulfilled this requirement during the first quarter of 2019. However, our completion of this requirement is subject to testing by the CA DBO’s third-party administrator who must confirm, among other things, that modified loans have remained current for specified time periods. If we are unable to satisfy this requirement or obtain an extension, the 2017 CA Consent Order obligates us to pay the remaining amount to the CA DBO in cash. Our debt forgiveness activities take place as we modify loans - our loan modifications are designed to be sustainable for homeowners while providing a net present value for mortgage loan investors that is superior to that of foreclosure. Debt forgiveness as part of a loan modification is determined on a case-by-case basis in accordance with the applicable servicing agreement. Debt forgiveness does not involve an expense to Ocwen other than the operating expense incurred in arranging the modification, which is part of Ocwen’s role as loan servicer. If the CA DBO were to allege that we failed to comply with our obligations under the 2017 CA Consent Order or that we otherwise were in breach of applicable laws, regulations or licensing requirements, the CA DBO could also take regulatory actions against us, including imposing fines or penalties or otherwise restricting our business activities. Any such actions could have a material adverse impact on our business, financial condition liquidity and results of operations.

Commitments

Commitments	6 Months Ended
	Jun. 30, 2019
Other Commitments [Abstract]
Commitments	Note 20 — Commitments Unfunded Lending Commitments We have originated floating-rate reverse mortgage loans under which the borrowers have additional borrowing capacity of $1.5 billion at June 30, 2019 . This additional borrowing capacity is available on a scheduled or unscheduled payment basis. We also had short-term commitments to lend $95.8 million and $22.3 million in connection with our forward and reverse mortgage loan IRLCs, respectively, outstanding at June 30, 2019 . We finance originated and purchased forward and reverse mortgage loans with repurchase and participation agreements, commonly referred to as warehouse lines. HMBS Issuer Obligations As an HMBS issuer, we assume certain obligations related to each security issued. The most significant obligation is the requirement to purchase loans out of the Ginnie Mae securitization pools once the outstanding principal balance of the related HECM is equal to or greater than 98% of the maximum claim amount (MCA repurchases). Active repurchased loans are assigned to HUD and payment is received from HUD, typically within 60 days of repurchase. HUD reimburses us for the outstanding principal balance on the loan up to the maximum claim amount. We bear the risk of exposure if the amount of the outstanding principal balance on a loan exceeds the maximum claim amount. Inactive repurchased loans (the borrower is deceased, no longer occupies the property or is delinquent on tax and insurance payments) are generally liquidated through foreclosure and subsequent sale of REO, with a claim filed with HUD for recoverable remaining principal and advance balances. The recovery timeline for inactive repurchased loans depends on various factors, including foreclosure status at the time of repurchase, state-level foreclosure timelines, and the post-foreclosure REO liquidation timeline. The timing and amount of our obligation with respect to MCA repurchases is uncertain as repurchase is dependent largely on circumstances outside of our control including the amount and timing of future draws and the status of the loan. MCA repurchases are expected to continue to increase due to the increased flow of HECMs and REO that are reaching 98% of their maximum claim amount. Activity with regard to HMBS repurchases, including MCA repurchases, follows: Six Months Ended June 30, 2019 Active Inactive Total Number Amount Number Amount Number Amount Beginning balance 10 $ 2,047 252 $ 14,833 262 $ 16,880 Additions (1) 21 6,333 100 9,354 121 15,687 Recoveries, net (2) (9 ) (4,429 ) (113 ) (5,076 ) (122 ) (9,505 ) Transfers 1 (332 ) (1 ) 332 — — Changes in value — — — (939 ) — (939 ) Ending balance 23 $ 3,619 238 $ 18,504 261 $ 22,123 (1) Total repurchases during the six months ended June 30, 2019 includes 44 loans totaling $8.3 million related to MCA repurchases. (2) Includes amounts received upon assignment of loan to HUD, loan payoff, REO liquidation and claim proceeds less any amounts charged off as unrecoverable. Active loan repurchases are classified as Receivables as reimbursement from HUD is generally received within 60 days and are initially recorded at fair value. Inactive loan repurchases are classified as Loans held for sale and are initially recorded at fair value. Loans are reclassified to REO in Other assets or Receivables as the loans move through the resolution process and permissible claims are submitted to HUD for reimbursement. Loans held for sale repurchased prior to October 1, 2018 are carried at the lower of cost or fair value. Receivables are valued at net realizable value. REO is valued at the estimated value of the underlying property less cost to sell. Long-Term Contracts Our business is currently reliant on certain services provided by Altisource S.à r.l, a subsidiary of Altisource Portfolio Solutions, S.A. (Altisource). Each of Ocwen and OMS are parties to long-term agreements with Altisource, including a Services Agreement and a Technology Products Services Agreement. Under the Services Agreements, Altisource provides various business process outsourcing services, such as valuation services and property preservation and inspection services, among other things. Altisource provides certain technology products and support services under the Technology Products Services Agreement, including the REALServicing loan servicing system. These agreements expire August 31, 2025 and include renewal provisions. However, Ocwen anticipates that Altisource will cease providing technology products and support services under the Technology Products Services Agreement by the end of 2019 now that we have completed the transition to Black Knight MSP from REALServicing. Ocwen and Altisource have also entered into a Master Services Agreement pursuant to which Altisource currently provides title services to Liberty. Ocwen also has a General Referral Fee Agreement with Altisource pursuant to which Ocwen receives referral fees which are paid out of the commission that would otherwise be paid to Altisource as the selling broker in connection with real estate sales services provided by Altisource. However, for MSRs that transferred to NRZ in September 2017, as well as those subject to the New RMSR Agreements we entered into in January 2018, we are not entitled to REO referral commissions. If Altisource were to fail to fulfill its contractual obligations to us, including through a failure to provide services at the required level, or if Altisource were to become unable to fulfill such obligations, our business and operations could suffer. On February 22, 2019, Ocwen and Altisource signed a Binding Term Sheet, which among other things, contains provisions regarding assuring that data is accurately transferred to Ocwen in connection with the deboarding of loans from REALServicing, including Ocwen having the ability to verify data accuracy and having continued access to the REALServicing system for an acceptable period of time. The Binding Term Sheet also amends certain provisions in the Services Agreements. After certain conditions have been met and where Ocwen has the right to select the services provider, Ocwen will use Altisource to provide the types of services that Altisource currently provides under the Services Agreements for at least 90% of services for all portfolios for which Ocwen is the servicer or subservicer, except that Altisource will be the provider for all such services for the portfolios: (i) acquired by Ocwen pursuant to loan servicing under agreements from Homeward (acquired in 2012) or assigned and assumed by Ocwen from Residential Capital, LLC, et al (assets acquired in 2013); and (ii) acquired from Ocwen, excluding certain portfolios in which PHH has an interest, by NRZ or its affiliates prior to the date of the Binding Term Sheet. Notwithstanding the foregoing, Altisource will be the provider of mortgage charge-off collections services under the Services Agreements. The Binding Term Sheet also sets forth a framework for negotiating additional service level changes in the future. As specified in the Binding Term Sheet, if Altisource fails certain performance standards for specified periods of time, then Ocwen may terminate Altisource as a provider for the applicable service(s), subject to Altisource’s right to cure. For certain claims arising from referrals received by Altisource after the effective date of the Binding Term Sheet, the provisions include reciprocal indemnification obligations in the event of negligence by either party and Altisource’s indemnification of Ocwen in the event of any breach by Altisource of its obligations under the Services Agreements. The limitations of liability provisions include an exception for losses either party suffers as a result of third-party claims. Certain services provided by Altisource under these agreements are charged to the borrower and/or mortgage loan investor. Accordingly, such services, while derived from our loan servicing portfolio, are not reported as expenses by Ocwen. These services include residential property valuation, residential property preservation and inspection services, title services and real estate sales-related services. Similar to other vendors, in the event that Altisource’s activities do not comply with the applicable servicing criteria, we could be exposed to liability as the servicer and it could negatively impact our relationships with our servicing clients, borrowers or regulators, among others. Under certain circumstances, we would have recourse under our contractual agreements with Altisource if we were to experience adverse consequences as a result of Altisource’s non-compliance with applicable servicing criteria.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2019
Loss Contingency [Abstract]
Contingencies	Note 21 – Contingencies When we become aware of a matter involving uncertainty for which we may incur a loss, we assess the likelihood of any loss. If a loss contingency is probable and the amount of the loss can be reasonably estimated, we record an accrual for the loss. In such cases, there may be an exposure to potential loss in excess of the amount accrued. Where a loss is not probable but is reasonably possible or where a loss in excess of the amount accrued is reasonably possible, we disclose an estimate of the amount of the loss or range of possible losses for the claim if a reasonable estimate can be made, unless the amount of such reasonably possible loss is not material to our financial position, results of operations or cash flows. If a reasonable estimate of loss cannot be made, we do not accrue for any loss or disclose any estimate of exposure to potential loss even if the potential loss could be material and adverse to our business, reputation, financial condition and results of operations. An assessment regarding the ultimate outcome of any such matter involves judgments about future events, actions and circumstances that are inherently uncertain. The actual outcome could differ materially. Where we have retained external legal counsel or other professional advisers, such advisers assist us in making such assessments. Litigation In the ordinary course of business, we are a defendant in, or a party or potential party to, many threatened and pending legal proceedings, including proceedings brought by regulatory agencies (discussed further under “Regulatory” below), those brought on behalf of various classes of claimants, those brought derivatively on behalf of Ocwen against certain current or former officers and directors or others and those brought by commercial counterparties. The majority of these proceedings are based on alleged violations of federal, state and local laws and regulations governing our mortgage servicing and lending activities, including, among others, the Dodd-Frank Act, the Gramm-Leach-Bliley Act, the Fair Debt Collection Practices Act (FDCPA), the RESPA, the Truth in Lending Act, the Fair Credit Reporting Act, the Servicemembers Civil Relief Act, the Homeowners Protection Act, the Federal Trade Commission Act, the TCPA, the Equal Credit Opportunity Act, as well as individual state licensing and foreclosure laws and federal and local bankruptcy rules. Such proceedings include wrongful foreclosure and eviction actions, allegations of wrongdoing in connection with lender-placed insurance and mortgage reinsurance arrangements, claims relating to our property preservation activities, claims related to REO management, claims relating to our written and telephonic communications with our borrowers such as claims under the TCPA, claims related to our payment, escrow and other processing operations, claims relating to fees imposed on borrowers relating to payment processing, payment facilitation, or payment convenience, claims related to ancillary products marketed and sold to borrowers, and claims regarding certifications of our legal compliance related to our participation in certain government programs. In some of these proceedings, claims for substantial monetary damages are asserted against us. For example, we are currently a defendant in various matters alleging that (1) certain fees imposed on borrowers relating to payment processing, payment facilitation, or payment convenience violate the FDCPA, (2) we violated the TCPA by using an automated telephone dialing system to call class members’ cell phones without their consent, (3) we committed securities fraud in connection with certain of our public disclosures, (4) certain fees we assess on borrowers are marked up improperly in violation of applicable state and federal law, (5) the solicitation and marketing to borrowers of certain ancillary products was unfair and deceptive, (6) we breached fiduciary duties we purportedly owe to benefit plans due to the discretion we exercise in servicing certain securitized mortgage loans and (7) certain legacy mortgage reinsurance arrangements violated RESPA. In the future, we are likely to become subject to other private legal proceedings alleging failures to comply with applicable laws and regulations, including putative class actions, in the ordinary course of our business. In view of the inherent difficulty of predicting the outcome of any threatened or pending legal proceedings, particularly where the claimants seek very large or indeterminate damages or where the matters present novel legal theories or involve a large number of parties, we generally cannot predict what the eventual outcome of such proceedings will be, what the timing of the ultimate resolution will be, or what the eventual loss, if any, will be. Any material adverse resolution could materially and adversely affect our business, reputation, financial condition and results of operations. Where we determine that a loss contingency is probable in connection with a pending or threatened legal proceeding and the amount of our loss can be reasonably estimated, we record an accrual for the loss. We have accrued for losses relating to threatened and pending litigation that we believe are probable and reasonably estimable based on current information regarding these matters. Where we determine that a loss is not probable but is reasonably possible or where a loss in excess of the amount accrued is reasonably possible, we disclose an estimate of the amount of the loss or range of possible losses for the claim if a reasonable estimate can be made, unless the amount of such reasonably possible loss is not material to our financial position, results of operations or cash flows. It is possible that we will incur losses relating to threatened and pending litigation that materially exceed the amount accrued. Our accrual for probable and estimable legal and regulatory matters, including accrued legal fees, was $53.1 million at June 30, 2019 . We cannot currently estimate the amount, if any, of reasonably possible losses above amounts that have been recorded at June 30, 2019 . In 2014, plaintiffs filed a putative class action against Ocwen in the United States District Court for the Northern District of Alabama, alleging that Ocwen violated the FDCPA by charging borrowers a convenience fee for making certain loan payments. See McWhorter et al. v. Ocwen Loan Servicing, LLC (N.D. Ala.) . The plaintiffs are seeking statutory damages under the FDCPA, compensatory damages and injunctive relief. The presiding court previously ruled on Ocwen’s motions to dismiss, and Ocwen answered the operative complaint. Ocwen subsequently entered into an agreement in principle to resolve this matter, and in January 2019, the presiding court granted preliminary approval of the parties’ proposed class settlement. At a hearing in July 2019, the court indicated that it would grant final approval of the parties’ proposed class settlement. While Ocwen believes that it has sound legal and factual defenses, we agreed to this settlement in principle in order to avoid the uncertain outcome of litigation and the additional expense and demands on the time of its senior management that such litigation would involve. There can be no assurance that the court will finally approve the settlement. In the event the settlement is not finally approved, the litigation would continue, and we would vigorously defend the allegations made against Ocwen. Our accrual with respect to this matter is included in the $53.1 million legal and regulatory accrual referenced above. We cannot currently estimate the amount, if any, of reasonably possible loss above the amount accrued. Ocwen has been named in putative class actions and individual actions related to its compliance with the TCPA. Generally, plaintiffs in these actions allege that Ocwen knowingly and willfully violated the TCPA by using an automated telephone dialing system to call individuals’ cell phones without their consent. In July 2017, Ocwen entered into an agreement in principle to resolve two such putative class actions, which have been consolidated in the United States District Court for the Northern District of Illinois. See Snyder v. Ocwen Loan Servicing, LLC (N.D. Ill.); Beecroft v. Ocwen Loan Servicing, LLC (N.D. Ill.) . The settlement would provide for the establishment of a settlement fund to be distributed to impacted borrowers that submit claims for settlement benefits pursuant to a claims administration process. While Ocwen believes that it has sound legal and factual defenses, Ocwen agreed to the settlement in order to avoid the uncertain outcome of litigation and the additional expense and demands on the time of its senior management that such litigation would involve. In October 2017, the court preliminarily approved the settlement and, thereafter, we paid the settlement amount into an escrow account held by the settlement administrator. However, in September 2018, the Court denied the motion for final approval. In November 2018, the parties engaged in mediation to address the issues raised by the Court in its denial order. The parties thereafter reached a revised agreement, and in June 2019 the court entered an order approving the settlement. However, in July 2019, the court stated that it might re-visit its order granting final approval of the settlement depending on certain events in a related TCPA class action. The court nevertheless directed Ocwen to move forward with fulfilling its obligations under the settlement. The related TCPA class action is pending in front of the same judge and involves claims against trustees of RMBS trusts based on vicarious liability for Ocwen’s alleged non-compliance with the TCPA. The trustees have indicated they may seek indemnification from Ocwen based on the vicarious liability claims. Additional lawsuits may be filed against us in relation to our TCPA compliance. At this time, Ocwen is unable to predict the outcome of existing lawsuits or any additional lawsuits that may be filed, the possible loss or range of loss, if any, associated with the resolution of such lawsuits or the potential impact such lawsuits may have on us or our operations. Ocwen intends to vigorously defend against these lawsuits. If our efforts to defend these lawsuits are not successful, our business, financial condition liquidity and results of operations could be materially and adversely affected. We have settled two “opt-out” securities fraud actions brought on behalf of certain putative shareholders of Ocwen based on allegations in connection with the restatements of our 2013 and first quarter 2014 financial statements, among other matters. See Brahman Partners et al. v. Ocwen Financial Corporation et al. (S.D. Fla.) and Owl Creek et al. v. Ocwen Financial Corporation et al. (S.D. Fla.). Both of these cases have been dismissed with prejudice in February 2019. We have previously disclosed that as a result of the federal and state regulatory actions taken in April 2017 and shortly thereafter, which are described below under “Regulatory”, and the impact on our stock price, several putative securities fraud class action lawsuits were filed against Ocwen and certain of its officers that contain allegations in connection with Ocwen’s statements concerning its efforts to satisfy the evolving regulatory environment, and the resources it devoted to regulatory compliance, among other matters. Those lawsuits were consolidated in the United States District Court for the Southern District of Florida in the matter captioned Carvelli v. Ocwen Financial Corporation et al. (S.D. Fla.). In April 2018, the court in Carvelli granted our motion to dismiss, and dismissed the consolidated case with prejudice. Plaintiffs thereafter filed a notice of appeal, and that appeal remains pending. Ocwen and the other defendants intend to defend themselves vigorously. Additional lawsuits may be filed against us in relation to these matters. At this time, Ocwen is unable to predict the outcome of this existing lawsuit or any additional lawsuits that may be filed, the possible loss or range of loss, if any, associated with the resolution of such lawsuits or the potential impact such lawsuits may have on us or our operations. If additional lawsuits are filed, Ocwen intends to vigorously defend itself against such lawsuits. If our efforts to defend the existing lawsuit or any future lawsuit are not successful, our business, financial condition, liquidity and results of operations could be materially and adversely affected. Over the past several years, lawsuits have been filed by RMBS trust investors alleging that the trustees and master servicers breached their contractual and statutory duties by (i) failing to require loan servicers to abide by their contractual obligations; (ii) failing to declare that certain alleged servicing events of default under the applicable contracts occurred; and (iii) failing to demand that loan sellers repurchase allegedly defective loans, among other things. Ocwen has received several letters from trustees and master servicers purporting to put Ocwen on notice that the trustees and master servicers may ultimately seek indemnification from Ocwen in connection with the litigations. Ocwen has not yet been impleaded into any of these cases, but it has produced and continues to produce documents to the parties in response to third-party subpoenas. Ocwen has, however, been impleaded as a third-party defendant into five consolidated loan repurchase cases first filed against Nomura Credit & Capital, Inc. in 2012 and 2013. Ocwen is vigorously defending itself in those cases against allegations by the mortgage loan seller-defendant that Ocwen failed to inform its contractual counterparties that it had discovered defective loans in the course of servicing them and had otherwise failed to service the loans in accordance with accepted standards. Ocwen is unable at this time to predict the ultimate outcome of these matters, the possible loss or range of loss, if any, associated with the resolution of these matters or any potential impact they may have on us or our operations. If, however, we were required to compensate claimants for losses related to the alleged loan servicing breaches, then our business, liquidity, financial condition and results of operations could be adversely affected. In addition, several RMBS trustees have received notices of default alleging material failures by servicers to comply with applicable servicing agreements. Although Ocwen has not yet been sued by an RMBS trustee in response to a notice of default, there is a risk that Ocwen could be replaced as servicer as a result of said notices, that the trustees could take legal action on behalf of the trust certificateholders, or, under certain circumstances, that the RMBS investors who issue notices of default could seek to press their allegations against Ocwen, independent of the trustees. We are unable at this time to predict what, if any, actions any trustee will take in response to a notice of default, nor can we predict at this time the potential loss or range of loss, if any, associated with the resolution of any notices of default or the potential impact on our operations. If Ocwen were to be terminated as servicer, or other related legal actions were pursued against Ocwen, it could have an adverse effect on Ocwen’s business, financing activities, financial condition and results of operations. Regulatory We are subject to a number of ongoing federal and state regulatory examinations, cease and desist orders, consent orders, inquiries, subpoenas, civil investigative demands, requests for information and other actions. Where we determine that a loss contingency is probable in connection with a regulatory matter and the amount of our loss can be reasonably estimated, we record an accrual for the loss. Where we determine that a loss is not probable but is reasonably possible or where a loss in excess of the amount accrued is reasonably possible, we disclose an estimate of the amount of the loss or range of possible losses for the claim if a reasonable estimate can be made, unless the amount of such reasonably possible loss is not material to our financial position, results of operations or cash flows. It is possible that we will incur losses relating to regulatory matters that materially exceed any accrued amount. Predicting the outcome of any regulatory matter is inherently difficult and we generally cannot predict the eventual outcome of any regulatory matter or the eventual loss, if any, associated with the outcome. To the extent that an examination, audit or other regulatory engagement results in an alleged failure by us to comply with applicable laws, regulations or licensing requirements, or if allegations are made that we have failed to comply with applicable laws, regulations or licensing requirements or the commitments we have made in connection with our regulatory settlements (whether such allegations are made through administrative actions such as cease and desist orders, through legal proceedings or otherwise) or if other regulatory actions of a similar or different nature are taken in the future against us, this could lead to (i) administrative fines and penalties and litigation, (ii) loss of our licenses and approvals to engage in our servicing and lending businesses, (iii) governmental investigations and enforcement actions, (iv) civil and criminal liability, including class action lawsuits and actions to recover incentive and other payments made by governmental entities, (v) breaches of covenants and representations under our servicing, debt or other agreements, (vi) damage to our reputation, (vii) inability to raise capital or otherwise fund our operations and (viii) inability to execute on our business strategy. Any of these occurrences could increase our operating expenses and reduce our revenues, hamper our ability to grow or otherwise materially and adversely affect our business, reputation, financial condition, liquidity and results of operations. CFPB In April 2017, the CFPB filed a lawsuit in the federal district court for the Southern District of Florida against Ocwen, OMS and OLS alleging violations of federal consumer financial laws relating to our servicing business dating back to 2014. The CFPB’s claims include allegations regarding (1) the adequacy of Ocwen’s servicing system and integrity of Ocwen’s mortgage servicing data, (2) Ocwen’s foreclosure practices and (3) various purported servicer errors with respect to borrower escrow accounts, hazard insurance policies, timely cancellation of private mortgage insurance, handling of customer complaints, and marketing of optional products. The CFPB alleges violations of unfair, deceptive acts or abusive practices, as well as violations of specific laws or regulations. The CFPB does not claim specific monetary damages, although it does seek consumer relief, disgorgement of allegedly improper gains, and civil money penalties. We believe we have factual and legal defenses to the CFPB’s allegations and are vigorously defending ourselves. Prior to the initiation of legal proceedings, we had been engaged with the CFPB in efforts to resolve the matter and recorded $12.5 million as of December 31, 2016 as a result of these discussions. Our accrual with respect to this matter is included in the $53.1 million legal and regulatory accrual referenced above. The outcome of the matters raised by the CFPB, whether through negotiated settlements, court rulings or otherwise, could have a material adverse impact on our business, reputation, financial condition, liquidity and results of operations. State Licensing, State Attorneys General and Other Matters Our licensed entities are required to renew their licenses, typically on an annual basis, and to do so they must satisfy the license renewal requirements of each jurisdiction, which generally include financial requirements such as providing audited financial statements or satisfying minimum net worth requirements and non-financial requirements such as satisfactorily completing examinations as to the licensee’s compliance with applicable laws and regulations. Failure to satisfy any of the requirements to which our licensed entities are subject could result in a variety of regulatory actions ranging from a fine, a directive requiring a certain step to be taken, entry into a consent order, a suspension or ultimately a revocation of a license, any of which could have a material adverse impact on our results of operations and financial condition. In addition, we receive information requests and other inquiries, both formal and informal in nature, from our state financial regulators as part of their general regulatory oversight of our servicing and lending businesses. We also regularly engage with state attorneys general and the CFPB and, on occasion, we engage with other federal agencies, including the Department of Justice and various inspectors general on various matters, including responding to information requests and other inquiries. Many of our regulatory engagements arise from a complaint that the entity is investigating, although some are formal investigations or proceedings. The GSEs (and their conservator, FHFA), HUD, FHA, VA, Ginnie Mae, the United States Treasury Department, and others also subject us to periodic reviews and audits. We have in the past resolved, and may in the future resolve, matters via consent orders, payments of monetary amounts and other agreements in order to settle issues identified in connection with examinations or other oversight activities, and such resolutions could have material and adverse effects on our business, reputation, operations, results of operations and financial condition. In April 2017 and shortly thereafter, mortgage and banking regulatory agencies from 29 states and the District of Columbia took regulatory actions against OLS and certain other Ocwen companies that alleged deficiencies in our compliance with laws and regulations relating to our servicing and lending activities. An additional state regulator brought legal action together with that state’s attorney general, as described below. In general, the regulatory actions took the form of orders styled as “cease and desist orders,” and we use that term to refer to all of the orders for ease of reference; for ease of reference we also include the District of Columbia as a state when we reference states below. All of the cease and desist orders were applicable to OLS, but additional Ocwen entities were named in some orders, including Ocwen Financial Corporation, OMS, Homeward, Liberty, OFSPL and Ocwen Business Solutions, Inc. (OBS). We entered into agreements with all 29 states plus the District of Columbia to resolve these regulatory actions. These agreements generally contained the following key terms (the Multi-State Common Settlement Terms): • Ocwen would not acquire any new residential MSRs until April 30, 2018. • Ocwen would develop a plan of action and milestones regarding its transition from the REALServicing servicing system to an alternate servicing system and, with certain exceptions, would not board any new loans onto the REALServicing system. • In the event that Ocwen chose to merge with or acquire an unaffiliated company or its assets in order to effectuate a transfer of loans from the REALServicing system, Ocwen was required to comply with regulatory notice and waiting period requirements. • Ocwen would engage a third-party auditor to perform an analysis with respect to our compliance with certain federal and state laws relating to escrow by testing approximately 9,000 loan files relating to residential real property in various states, and Ocwen would develop corrective action plans for any errors identified by the third-party auditor. • Ocwen would develop and submit for review a plan to enhance our consumer complaint handling processes. • Ocwen would provide financial condition reporting on a confidential basis as part of each state’s supervisory framework through September 2020. In addition to the terms described above, Ocwen entered into settlements with certain states on different or additional terms, which include making additional communications with and for borrowers, certain restrictions, certain review, reporting and remediation obligations, and the following additional terms: • Ocwen agreed with the Connecticut Department of Banking to pay certain amounts only in the event we fail to comply with certain requirements under our agreement with Connecticut. • In its agreement with the Maryland Office of the Commissioner of Financial Regulation, Ocwen agreed to complete an independent management assessment and enterprise risk assessment and to a prohibition, with certain de minimis exceptions, on repurchases of our stock until December 7, 2018. Ocwen also agreed to make certain payments to Maryland, to provide remediation to certain borrowers in the form of cash payments or credits and to pay certain amounts only in the event we fail to comply with certain requirements under our agreement with Maryland. • Ocwen agreed with the Massachusetts Division of Banks to pay $1.0 million to the Commonwealth of Massachusetts Mortgage Education Trust. Ocwen and the Massachusetts regulatory agency also agreed on a schedule pursuant to which we will regain eligibility to acquire residential MSRs on Massachusetts loans (including loans originated by Ocwen) as it meets certain thresholds in its transition to a new servicing system. All restrictions on Massachusetts MSR acquisitions will be lifted when Ocwen completes the second phase of a three-phase data integrity audit which will be conducted by an independent third-party following completion of Ocwen’s servicing system transition. The first phase of this audit, which was required to be completed prior to transitioning any Massachusetts loans to a new servicing system, has already been completed. • Ocwen agreed with the Nebraska Department of Banking and Finance until April 30, 2019, to limit its growth through acquisition from correspondent relationships to no more than ten percent per year for Nebraska loans (based on the total number of loans held at the prior calendar year-end). Accordingly, we have now resolved all of the administrative actions (but not all of the legal actions, which are described below) taken by state regulators in April 2017. We have taken substantial steps toward fulfilling our commitments under the agreements described above, including completing the transfer of loans to Black Knight MSP, developing and implementing certain enhancements to our consumer complaint process, engaging a third-party auditor who is currently performing escrow-related testing, and complying with our other information sharing and reporting obligations. In April 2017 and shortly thereafter, and concurrent with the issuance of the cease and desist orders and the filing of the CFPB lawsuit discussed above, two state attorneys general took actions against us relating to our servicing practices. The Florida Attorney General, together with the Florida Office of Financial Regulation, filed a lawsuit in the federal district court for the Southern District of Florida against Ocwen, OMS and OLS alleging violations of federal and state consumer financial laws relating to our servicing business. These claims are similar to the claims made by the CFPB. The Florida lawsuit seeks injunctive and equitable relief, costs, and civil money penalties in excess of $10,000 per confirmed violation of the applicable statute. We believe we have factual and legal defenses to the allegations raised in this lawsuit and are vigorously defending ourselves. The outcome of this lawsuit, whether through a negotiated settlement, court rulings or otherwise, could potentially involve monetary fines or penalties or additional restrictions on our business and could be materially adverse to our business, reputation, financial condition, liquidity and results of operations. Our accrual with respect to this matter is included in the $53.1 million litigation and regulatory matters accrual referenced above. We cannot currently estimate the amount, if any, of reasonably possible loss above the amount currently accrued. The Massachusetts Attorney General filed a lawsuit against OLS in the Superior Court for the Commonwealth of Massachusetts alleging violations of state consumer financial laws relating to our servicing business, including with respect to our activities relating to lender-placed insurance and property preservation fees. In April 2019, we agreed to resolve this matter without admitting liability. The resolution includes a payment to the Commonwealth of Massachusetts of $675,000 , a loan modification program for certain eligible Massachusetts borrowers, and certain already-completed relief. The settlement amount of $675,000 was paid in April 2019. Our accrual with respect to the administrative and legal actions initiated in April 2017 is included in the $53.1 million litigation and regulatory matters accrual referenced above. We will also incur costs complying with the terms of the settlements we have entered into, including the costs of conducting an escrow analysis, Maryland organizational assessments, Massachusetts data integrity audits, and transition to Black Knight MSP. For example, with respect to the escrow review, which is currently underway, we will incur remediation costs to the extent that errors are identified which require remediation. If we fail to comply with the terms of our settlements, additional administrative or legal regulatory actions could be taken against us. Such actions could have a materially adverse impact on our business, reputation, financial condition, liquidity and results of operations. Certain of the state regulators’ cease and desist orders referenced a confidential supervisory memorandum of understanding (MOU) that we entered into with the Multistate Mortgage Committee (MMC), a multistate coalition of various mortgage banking regulators, and six states relating to a servicing examination from 2013 to 2015. The MOU contained various provisions relating to servicing practices and safety and soundness aspects of the regulatory review, as a step toward closing the 2013-2015 examination. Ocwen responded to the MOU items and continues to provide certain reports and other information pursuant to the MOU. There were no monetary or other penalties imposed under the MOU. However, the MOU prohibited us from repurchasing stock during the development of a going forward plan and, thereafter, except as permitted by the plan. We prepared and submitted a plan that contained no stock repurchase restrictions and, therefore, we do not believe we are currently restricted from repurchasing stock. However, the MMC may not agree with our interpretation. For this reason, and on the basis of our progress to date responding to our obligations under the MOU, we have requested that the MOU be terminated. To the extent that we cannot terminate the MOU, we may remain subject to a share repurchase restriction and continued reporting obligations. On occasion, we engage with agencies of the federal government on various matters. For example, OLS received a letter from the Department of Justice, Civil Rights Division, notifying OLS that the Department of Justice had initiated a general investigation into OLS’s policies and procedures to determine whether violations of the Servicemembers Civil Relief Act by OLS might exist. We continue to provide information to the Department of Justice and we are engaged in ongoing discussions with the Department of Justice relating to this inquiry. In addition, Ocwen was named as a defendant in a HUD administrative complaint filed by a non-profit organization alleging discrimination in the manner in which the company maintains REO properties in minority communities. In February 2018, this matter was administratively closed, and similar claims were filed in federal court. We believe these claims are without merit and intend to vigorously defend ourselves. In May 2016, Ocwen received a subpoena from the Office of Inspector General of HUD requesting the production of documentation related to HECM loans originated by Liberty. We understand that other lenders in the industry have received similar subpoenas. In April 2017, Ocwen received a subpoena from the Office of Inspector General of HUD requesting the production of documentation related to lender-placed insurance arrangements with a mortg

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 22 – Subsequent Events On July 1, 2019, PMC entered into a committed financing facility (the Facility) with Barclays Bank PLC and its affiliate that is secured by certain Fannie Mae and Freddie Mac MSRs. In the future, borrowings under the Facility may also be secured by Ginnie Mae MSRs. In connection with the Facility, PMC entered into repurchase agreements with Barclays Bank PLC and its affiliate pursuant to which PMC sold trust certificates representing certain indirect economic interests in the MSRs and agreed to repurchase such trust certificates at a future date at the repurchase price set forth in the repurchase agreements. PMC’s obligations under the Facility are secured by a lien on the related MSRs. Ocwen guarantees the obligations of PMC under the Facility. The agreements documenting the Facility contain representations, warranties and covenants that are customary for a transaction of this nature. The maximum amount which we may borrow pursuant to the repurchase agreements is $300.0 million . The Facility will terminate in June 2020 unless the parties mutually agree to renew or extend. The interest rate is 1ML plus 3.0% . During July 2019, in three separate transactions we repurchased a total of $29.4 million of our 8.375% Senior secured notes in the open market for a price of $25.7 million , or approximately 87% of the repurchased principal amount. These repurchases represent approximately 9% of the $330.9 million principal balance outstanding at June 30, 2019. The 8.375% Senior secured notes are scheduled to mature in November 2022.

Organization, Business Enviro_2

Organization, Business Environment and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in conformity with the instructions of the Securities and Exchange Commission (SEC) to Form 10-Q and SEC Regulation S-X, Article 10, Rule 10-01 for interim financial statements. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America (GAAP) for complete financial statements. In our opinion, the accompanying unaudited consolidated financial statements contain all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation. The results of operations and other data for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for any other interim period or for the year ending December 31, 2019 . The unaudited consolidated financial statements presented herein should be read in conjunction with the audited consolidated financial statements and related notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2018 .
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of financial statements in conformity with GAAP requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates and assumptions include, but are not limited to, those that relate to fair value measurements, income taxes, the provision for potential losses that may arise from litigation proceedings, and our going concern evaluation. In developing estimates and assumptions, management uses all available information; however, actual results could materially differ from those estimates and assumptions.
Reclassifications	Reclassifications Within the Other income (expense) section of the unaudited statement of operations for the three and six months ended June 30, 2018, we reclassified Gain on sale of MSRs, net of $0.1 million and $1.0 million , respectively, to Other, net to conform to the current year presentation. Certain amounts in the unaudited consolidated statement of cash flows for the six months ended June 30, 2018 have been reclassified to conform to the current year presentation as follows: • Within the Cash flows from operating activities section, we reclassified Amortization of debt issuance costs of $1.7 million to Other, net. • Within the Cash flows from financing activities section, we reclassified repayments of the SSTL of $58.4 million from Repayment of mortgage loan warehouse facilities and other secured borrowings to a new separate line item (Repayment of SSTL borrowings). These reclassifications had no impact on our consolidated cash flows from operating, investing or financing activities.
Recently Adopted And Issued Accounting Standards	Recently Adopted Accounting Standards Leases (ASU 2016-02, ASU 2018-10, ASU 2018-11 and ASU 2019-01) This ASU requires a lessee to recognize right-of-use (ROU) assets and lease liabilities on the balance sheet, regardless of whether the lease is classified as a finance or operating lease. We adopted the new leasing guidance on January 1, 2019, and we elected practical expedients permitted by the new standard which provided us transition relief when assessing leases that commenced prior to the adoption date, including determining whether existing contracts are or contain leases, the classification of such leases as operating or financing, and the accounting for initial direct costs. The adoption resulted in the recognition of a cumulative-effect adjustment to the opening balance of Retained earnings, the recognition of a gross ROU asset and lease liability, and the reclassification of existing balances for our leases as follows: Balances as of December 31, 2018 (1) Recognition of Gross ROU Asset and Lease Liability Reclassification of Existing Balances Balances Premises and Equipment: Right-of-use assets $ — $ 66,231 $ (21,438 ) $ 44,793 Other Assets: Prepaid expenses (rent) 977 — (977 ) — Other Liabilities: Liability for lease abandonments and deferred rent (5,498 ) — 5,498 — Lease liability — (66,247 ) 977 65,270 Liabilities related to discontinued operations: Liability for lease abandonments (3) (15,940 ) — 15,940 — Retained Earnings: Cumulative effect of adopting ASU 2016-02 — 16 — 16 (1) Represents amounts related to leases impacted by the adoption of this ASU that were included in our December 31, 2018 consolidated balance sheet. (2) ROU assets as of January 1, 2019 after transition adjustments includes $30.4 million related to premises located in the U.S., $13.6 million related to premises located in India and the Philippines, and $0.7 million related to equipment. (3) Represents lease impairments recognized by PHH prior to the acquisition. Our leases include non-cancelable operating leases for premises and equipment with maturities extending to 2025, exclusive of renewal option periods. At lease commencement date, we estimate the ROU assets and lease liability at present value using our estimated incremental borrowing rate of 7.5% . We elected to recognize ROU assets and lease liabilities that arise from short-term leases. A maturity analysis of our lease liability as of June 30, 2019 is summarized as follows: Annual obligation for the twelve months ended June 30, 2020 $ 19,312 2021 16,556 2022 15,558 2023 9,558 2024 1,659 Thereafter 1,268 63,911 Less: Adjustment to present value (8,422 ) Total minimum lease payments, net $ 55,489 Restricted cash includes a $23.2 million deposit as collateral for an irrevocable standby letter of credit issued in connection with one of our leased facilities. This letter of credit requirement under the terms of the lease agreement is primarily the result of PHH not meeting certain credit rating criteria prior to the acquisition. The required amount of the letter of credit will be reduced each month beginning in January 2021 through the lease expiration on December 31, 2022. We amortize the balance of the ROU assets and interest on the lease liability and report in Occupancy and equipment expense on our unaudited consolidated statements of operations. Our lease liability is reduced as we make cash payments on our lease obligations. Our ROU lease assets are evaluated for impairment, in accordance with ASC 360, Premises and Equipment , at each reporting date. Subsequent to adoption, we made the decision to vacate four leased properties prior to the contractual maturity date of the lease agreements. As a result of our plan to vacate the office space, we accelerated the recognition of amortization on the ROU assets based on the shortened remaining useful life of the leases. We recorded total accelerated amortization of $2.8 million during the six months ended June 30, 2019. Accounting Standards Issued but Not Yet Adopted Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (ASU 2016-13) This ASU will require more timely recording of credit losses on loans and other financial instruments. This standard aligns the accounting with the economics of lending by requiring banks and other lending institutions to immediately record the full amount of credit losses that are expected in their loan portfolios. The new guidance requires an organization to measure all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. This standard requires enhanced disclosures related to the significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an organization’s portfolio. Additionally, the new guidance amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. This standard will be effective for us on January 1, 2020, with early application permitted. We are currently evaluating the effect of adopting this standard.

Organization, Business Enviro_3

Organization, Business Environment and Basis of Presentation - (Tables)	6 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Right of Use Asset and Lease Liability	The adoption resulted in the recognition of a cumulative-effect adjustment to the opening balance of Retained earnings, the recognition of a gross ROU asset and lease liability, and the reclassification of existing balances for our leases as follows: Balances as of December 31, 2018 (1) Recognition of Gross ROU Asset and Lease Liability Reclassification of Existing Balances Balances Premises and Equipment: Right-of-use assets $ — $ 66,231 $ (21,438 ) $ 44,793 Other Assets: Prepaid expenses (rent) 977 — (977 ) — Other Liabilities: Liability for lease abandonments and deferred rent (5,498 ) — 5,498 — Lease liability — (66,247 ) 977 65,270 Liabilities related to discontinued operations: Liability for lease abandonments (3) (15,940 ) — 15,940 — Retained Earnings: Cumulative effect of adopting ASU 2016-02 — 16 — 16 (1) Represents amounts related to leases impacted by the adoption of this ASU that were included in our December 31, 2018 consolidated balance sheet. (2) ROU assets as of January 1, 2019 after transition adjustments includes $30.4 million related to premises located in the U.S., $13.6 million related to premises located in India and the Philippines, and $0.7 million related to equipment. (3) Represents lease impairments recognized by PHH prior to the acquisition.
Schedule of Maturity Analysis of our Lease Liability	A maturity analysis of our lease liability as of June 30, 2019 is summarized as follows: Annual obligation for the twelve months ended June 30, 2020 $ 19,312 2021 16,556 2022 15,558 2023 9,558 2024 1,659 Thereafter 1,268 63,911 Less: Adjustment to present value (8,422 ) Total minimum lease payments, net $ 55,489

Business Acquisitions (Tables)

Business Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Schedule of Purchase Price Allocation of Assets Acquired and Liabilities Assumed	Purchase Price Allocation October 4, 2018 Adjustments Revised Cash $ 423,088 $ — $ 423,088 Restricted cash 38,813 — 38,813 MSRs 518,127 — 518,127 Advances, net 96,163 — 96,163 Loans held for sale 42,324 358 42,682 Receivables, net 46,838 (96 ) 46,742 Premises and equipment, net 15,203 — 15,203 REO 3,289 — 3,289 Other assets 6,293 — 6,293 Assets related to discontinued operations 2,017 — 2,017 Financing liabilities (MSRs pledged, at fair value) (481,020 ) — (481,020 ) Other secured borrowings, net (27,594 ) — (27,594 ) Senior notes, net (Senior unsecured notes) (120,624 ) — (120,624 ) Accrued legal fees and settlements (9,960 ) — (9,960 ) Other accrued expenses (36,889 ) — (36,889 ) Loan repurchase and indemnification liability (27,736 ) — (27,736 ) Unfunded pension liability (9,815 ) — (9,815 ) Other liabilities (34,131 ) (643 ) (34,774 ) Liabilities related to discontinued operations (21,954 ) — (21,954 ) Total identifiable net assets 422,432 (381 ) 422,051 Total consideration paid to seller (358,396 ) — (358,396 ) Bargain purchase gain $ 64,036 $ (381 ) $ 63,655
Schedule of Supplemental Pro forma Information	The table below presents supplemental pro forma information for Ocwen for the three and six months ended June 30, 2018 as if the PHH acquisition occurred on January 1, 2017. Pro forma adjustments include the following: Description Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Increase in MSR valuation adjustments, net for acquired MSRs to conform the accounting for MSRs to the valuation policies of Ocwen $ 6,829 $ 1,082 Adjust interest expense for a total net decline (1) 9,879 12,216 Report Ocwen and PHH acquisition-related charges for professional services as if they had been incurred in 2017 rather than 2018 5,481 9,164 Total net increase in revenue (2) 47,552 81,460 Adjust depreciation expense to amortize internally developed software acquired from PHH on a straight-line basis based on a useful life of three years 245 490 Income tax benefit based on management’s estimate of the blended applicable statutory tax rates and observing the continued need for a valuation allowance (3) 580 1,458 (1) Primarily pertains to fair value adjustments of $10.1 million and $12.7 million for the three and six months ended June 30, 2018, respectively, related to the assumed MSR secured liability using valuation assumptions consistent with Ocwen’s methodology. (2) Primarily pertains to an increase to revenue of $42.6 million and $87.4 million for the three and six months ended June 30, 2018, respectively, for the gross-up of PHH MSRs sold and accounted for as a secured borrowing. The offset of the remaining adjustments are expenses, interest income and interest expense, with no net effect on earnings. (3) The net income tax benefit recorded as a result of pro forma adjustments represents lower current federal tax under the new base erosion and anti-abuse tax (BEAT) provision of the 2017 Tax Cuts and Jobs Act (Tax Act) assuming Ocwen and PHH would file a consol idated federal tax return beginning January 1, 2017. The pro forma tax adjustments contemplate the effects of the Tax Act.
Schedule of Pro Forma Results of Operations	Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 Revenues $ 335,846 $ 680,368 Net loss from continuing operations (57,225 ) (68,426 )

Cost Reengineering Plan (Tables

Cost Reengineering Plan (Tables)	6 Months Ended
	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
Schedule of Expenses Incurred To-Date, Including an Estimate of Remaining and Total Plan Costs	The following is a summary of expenses incurred to-date, including an estimate of remaining and total plan costs: Six Months Ended June 30, 2019 Employee-related Facility-related Other Total Costs incurred in current year (1): First quarter $ 20,787 $ — $ 1,328 $ 22,115 Second quarter 3,460 3,047 3,619 10,126 24,247 3,047 4,947 32,241 Estimate of remaining costs (2) 10,153 3,553 19,053 32,759 Total plan costs $ 34,400 $ 6,600 $ 24,000 $ 65,000 (1) The above expenses were all incurred within the Corporate Items and Other segment. Employee-related costs and facility-related costs are reported in Compensation and benefits expense and Occupancy and equipment expense, respectively, in the unaudited consolidated statements of operations. Other costs are primarily reported in Professional services expense and Other expenses. (2) We expect to incur the remaining plan costs within the year ending December 31, 2019.
Schedule of Aggregate Activity of Liability for Re-Engineering Plan Costs	The following table provides a summary of the aggregate activity of the liability for the re-engineering plan costs: Six Months Ended June 30, 2019 Employee-related Facility-related Other Total Beginning balance $ — $ — $ — $ — Charges 24,247 3,047 4,947 32,241 Payments (9,855 ) — (4,397 ) (14,252 ) Ending balance $ 14,392 $ 3,047 $ 550 $ 17,989

Securitizations and Variable _2

Securitizations and Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2019
Transfers and Servicing [Abstract]
Schedule of Cash Flows Related to Transfers Accounted for as Sales	The following table presents a summary of cash flows received from and paid to securitization trusts related to transfers accounted for as sales that were outstanding: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Proceeds received from securitizations $ 195,973 $ 338,199 $ 438,933 $ 715,698 Servicing fees collected 12,826 10,077 28,744 20,425 Purchases of previously transferred assets, net of claims reimbursed (143 ) (659 ) (1,047 ) (2,829 ) $ 208,656 $ 347,617 $ 466,630 $ 733,294
Schedule of Assets That Relate to Continuing Involvement with Transferred Financial Assets with Servicing Rights and Maximum Exposure to Loss Including the Unpaid Principal Balance	The following table presents the carrying amounts of our assets that relate to our continuing involvement with forward loans that we have transferred with servicing rights retained as well as an estimate of our maximum exposure to loss including the UPB of the transferred loans: June 30, 2019 December 31, 2018 Carrying value of assets MSRs, at fair value $ 101,582 $ 132,774 Advances and match funded advances 124,796 138,679 UPB of loans transferred (1) 14,543,353 15,600,971 Maximum exposure to loss $ 14,769,731 $ 15,872,424
Schedule of Carrying Value of Assets and Liabilities of Consolidated Mortgage-backed Securitization Trusts	The table below presents the carrying value and classification of the assets and liabilities of two consolidated mortgage-backed securitization trusts included in our unaudited consolidated balance sheets as a result of residual securities issued by the trust that we acquired during 2018. June 30, 2019 December 31, 2018 Loans held for investment, at fair value - Restricted for securitization investors $ 25,324 $ 26,520 Financing liability - Owed to securitization investors, at fair value 23,697 24,815

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Fair Value Assets and Liabilities	The carrying amounts and the estimated fair values of our financial instruments and certain of our nonfinancial assets measured at fair value on a recurring or non-recurring basis or disclosed, but not measured, at fair value are as follows: June 30, 2019 December 31, 2018 Level Carrying Value Fair Value Carrying Value Fair Value Financial assets Loans held for sale Loans held for sale, at fair value (a) 2 $ 135,691 $ 135,691 $ 176,525 $ 176,525 Loans held for sale, at lower of cost or fair value (b) 3 60,380 60,380 66,097 66,097 Total Loans held for sale $ 196,071 $ 196,071 $ 242,622 $ 242,622 Loans held for investment Loans held for investment - Reverse mortgages (a) 3 $ 5,872,407 $ 5,872,407 $ 5,472,199 $ 5,472,199 Loans held for investment - Restricted for securitization investors (a) 3 25,324 25,324 26,520 26,520 Total loans held for investment $ 5,897,731 $ 5,897,731 $ 5,498,719 $ 5,498,719 Advances (including match funded), net (c) 3 $ 1,104,499 $ 1,104,499 $ 1,186,676 $ 1,186,676 Receivables, net (c) 3 187,985 187,985 198,262 198,262 Mortgage-backed securities (a) 3 2,014 2,014 1,502 1,502 U.S. Treasury notes (a) 1 1,073 1,073 1,064 1,064 Corporate bonds (a) 2 450 450 450 450 Financial liabilities: Match funded liabilities (c) 3 $ 671,796 $ 673,168 $ 778,284 $ 776,485 Financing liabilities: HMBS-related borrowings (a) 3 $ 5,745,383 $ 5,745,383 $ 5,380,448 $ 5,380,448 Financing liability - MSRs pledged (a) 3 844,913 844,913 1,032,856 1,032,856 Financing liability - Owed to securitization investors (a) 3 23,697 23,697 24,815 24,815 Other (c) 3 62,841 45,470 69,942 53,570 Total Financing liabilities $ 6,676,834 $ 6,659,463 $ 6,508,061 $ 6,491,689 Other secured borrowings: Senior secured term loan (c) (d) 2 $ 333,552 $ 338,150 $ 226,825 $ 227,449 Other (c) 3 182,929 182,929 155,713 155,713 Total Other secured borrowings $ 516,481 $ 521,079 $ 382,538 $ 383,162 June 30, 2019 December 31, 2018 Level Carrying Value Fair Value Carrying Value Fair Value Senior notes: Senior unsecured notes (c) (d) 2 $ 118,524 $ 113,540 $ 119,924 $ 119,258 Senior secured notes (c) (d) 2 329,053 276,283 328,803 306,889 Total Senior notes $ 447,577 $ 389,823 $ 448,727 $ 426,147 Derivative financial instrument assets (liabilities) Interest rate lock commitments (a) 2 $ 4,105 $ 4,105 $ 3,871 $ 3,871 Forward mortgage-backed securities (a) 1 (3,863 ) (3,863 ) (4,983 ) (4,983 ) Interest rate caps (a) 3 47 47 678 678 MSRs (a) 3 $ 1,312,633 $ 1,312,633 $ 1,457,149 $ 1,457,149 (a) Measured at fair value on a recurring basis. (b) Measured at fair value on a non-recurring basis. (c) Disclosed, but not measured, at fair value. (d) The carrying values are net of unamortized debt issuance costs and discount. See Note 13 – Borrowings for additional information .
Schedule of Reconciliation of Changes in Fair Value of Level 3 Assets and Liabilities	The following tables present a reconciliation of the changes in fair value of Level 3 assets and liabilities that we measure at fair value on a recurring basis: Loans Held for Investment - Reverse Mortgages HMBS-Related Borrowings Loans Held for Inv. - Restricted for Securitiza- tion Investors Financing Liability - Owed to Securit - ization Investors Mortgage-Backed Securities Financing Liability - MSRs Pledged Derivatives MSRs Three months ended June 30, 2019 Beginning balance $ 5,726,917 $ (5,614,688 ) $ 26,237 $ (24,562 ) $ 1,786 $ (951,216 ) $ 276 $ 1,400,191 Purchases, issuances, sales and settlements Purchases — — — — — — — 61,080 Issuances 217,757 (214,543 ) — — — (299 ) — — Sales — — — — — — — (3 ) Settlements (127,884 ) 125,626 (913 ) 865 — 53,288 — (1,367 ) Transfers (to) from: Loans held for sale, at fair value (488 ) — — — — — — — Other assets (36 ) — — — — — — — Receivables, net (45 ) — — — — — — — 89,304 (88,917 ) (913 ) 865 — 52,989 — 59,710 Total realized and unrealized gains (losses) Included in earnings: Change in fair value (1) 56,186 (41,778 ) — — 228 50,745 (229 ) (147,268 ) Calls and other — — — — — 2,569 — — 56,186 (41,778 ) — — 228 53,314 (229 ) (147,268 ) Transfers in and / or out of Level 3 — — — — — — — — Ending balance $ 5,872,407 $ (5,745,383 ) $ 25,324 $ (23,697 ) $ 2,014 $ (844,913 ) $ 47 $ 1,312,633 Loans Held for Investment - Reverse Mortgages HMBS-Related Borrowings Mortgage-Backed Securities Financing Liability - MSRs Pledged Derivatives MSRs Three months ended June 30, 2018 Beginning balance $ 4,988,151 $ (4,838,193 ) $ 1,679 $ (715,924 ) $ 1,866 $ 1,074,247 Purchases, issuances, sales and settlements Purchases — — — — 95 3,507 Issuances 236,386 (276,751 ) — — — (617 ) Sales — — — — — (24 ) Settlements (103,497 ) 100,737 — 49,962 — — Transfers (to) from: Loans held for sale, at fair value (257 ) — — — — — Other assets (33 ) — — — — — Receivables, net (22 ) — — — — — 132,577 (176,014 ) — 49,962 95 2,866 Total realized and unrealized gains (losses) Included in earnings: Change in fair value 23,030 (26,776 ) 53 (8,069 ) (304 ) (33,118 ) Calls and other — — — 1,412 — — 23,030 (26,776 ) 53 (6,657 ) (304 ) (33,118 ) Transfers in and / or out of Level 3 — — — — — — Ending balance $ 5,143,758 $ (5,040,983 ) $ 1,732 $ (672,619 ) $ 1,657 $ 1,043,995 Loans Held for Investment - Reverse Mortgages HMBS-Related Borrowings Loans Held for Inv. - Restricted for Securitiza- Financing Liability - Owed to Securiti- Mortgage-backed Securities Financing Liability - MSRs Pledged Derivatives MSRs Six months ended June 30, 2019 Beginning balance $ 5,472,199 $ (5,380,448 ) $ 26,520 $ (24,815 ) $ 1,502 $ (1,032,856 ) $ 678 $ 1,457,149 Purchases, issuances, sales and settlements Purchases — — — — — (876 ) — 117,000 Issuances 427,021 (425,106 ) — — — — — — Sales — — — — — — — (570 ) Settlements (232,514 ) 228,015 (1,196 ) 1,118 — 103,417 — (4,680 ) Transfers (to) from: Loans held for sale, at fair value (884 ) — — — — — — — Other assets (155 ) — — — — — — — Receivables, net (113 ) — — — — — — — 193,355 (197,091 ) (1,196 ) 1,118 — 102,541 — 111,750 Total realized and unrealized gains (losses) included in earnings Included in earnings: Change in fair value (1) 206,853 (167,844 ) — — 512 76,982 (631 ) (256,266 ) Calls and other — — — — — 8,420 — — 206,853 (167,844 ) — — 512 85,402 (631 ) (256,266 ) Transfers in and / or out of Level 3 — — — — — — — — Ending balance $ 5,872,407 $ (5,745,383 ) $ 25,324 $ (23,697 ) $ 2,014 $ (844,913 ) $ 47 $ 1,312,633 Loans Held for Investment - Reverse Mortgages HMBS-Related Borrowings Mortgage-backed Securities Financing Liability - MSRs Pledged Derivatives MSRs Six months ended June 30, 2018 Beginning balance $ 4,715,831 $ (4,601,556 ) $ 1,592 $ (508,291 ) $ 2,056 $ 671,962 Purchases, issuances, sales and settlements Purchases — — — — 95 5,885 Issuances 487,472 (499,576 ) — (279,586 ) — (2,375 ) Sales — — — — — (155 ) Settlements (186,216 ) 181,548 — 104,509 (371 ) — Transfers (to) from: MSRs carried at amortized cost, net of valuation allowance — — — — — 418,925 Loans held for sale, at fair value (441 ) — — — — — Other assets (137 ) — — — — — Receivables, net (72 ) — — — — — 300,606 (318,028 ) — (175,077 ) (276 ) 422,280 Total realized and unrealized gains (losses) included in earnings Included in earnings: Change in fair value 127,321 (121,399 ) 140 8,642 (123 ) (50,247 ) Calls and other — — — 2,107 — — 127,321 (121,399 ) 140 10,749 (123 ) (50,247 ) Transfers in and / or out of Level 3 — — — — — — Ending balance $ 5,143,758 $ (5,040,983 ) $ 1,732 $ (672,619 ) $ 1,657 $ 1,043,995 (1) The Change in fair value adjustments on Loans held for investment for the three and six months ended June 30, 2019 include $2.7 million and $5.6 million , respectively, in connection with the fair value election for future draw commitments on HECM reverse mortgage loans purchased or originated after December 31, 2018.
Summary of Estimated Change in the Value of MSRs Carried at Fair Value	The following table summarizes the estimated change in the value of the MSRs that we carry at fair value as of June 30, 2019 given 10% and 20% hypothetical shifts in prepayment speeds and discount rate assumptions: Adverse change in fair value 10% 20% Weighted average prepayment speeds $ (130,889 ) $ (251,379 ) Weighted average discount rate (35,280 ) (68,984 )
Loans Held for Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Significant Assumptions used in Valuation	Significant valuation assumptions June 30, December 31, Life in years Range 2.9 to 7.8 3.0 to 7.6 Weighted average 6.2 5.9 Conditional repayment rate Range 6.9% to 32.4% 6.8% to 38.4% Weighted average 13.9 % 14.7 % Discount rate 2.8 % 3.4 %
Mortgage Servicing Rights - Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Significant Assumptions used in Valuation	Significant valuation assumptions June 30, 2019 December 31, 2018 Agency Non-Agency Agency Non-Agency Weighted average prepayment speed 11.7 % 15.5 % 8.5 % 15.4 % Weighted average delinquency rate 6.9 % 27.2 % 6.6 % 27.1 % Advance financing cost 5-year swap 5-year swap plus 2.75% 5-year swap 5-yr swap plus 2.75% Interest rate for computing float earnings 5-year swap 5-year swap minus 0.50% 5-year swap 5-yr swap minus 0.50% Weighted average discount rate 9.3 % 12.6 % 9.1 % 12.8 % Weighted average cost to service (in dollars) $ 86 $ 295 $ 90 $ 297
HMBS - Related Borrowings [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Significant Assumptions used in Valuation	Significant valuation assumptions June 30, December 31, 2018 Life in years Range 2.9 to 7.8 3.0 to 7.6 Weighted average 6.2 5.9 Conditional repayment rate Range 6.9% to 32.4% 6.8% to 38.4% Weighted average 13.9 % 14.7 % Discount rate 2.8 % 3.3 %
Mortgage Servicing Rights Pledged [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Schedule of Significant Assumptions used in Valuation	Significant valuation assumptions June 30, 2019 December 31, 2018 Weighted average prepayment speed 14.6 % 13.9 % Weighted average delinquency rate 19.7 % 20.3 % Advance financing cost 5-year swap plus 0% to 2.75% 5-year swap plus 0% to 2.75% Interest rate for computing float earnings 5-year swap minus 0% to 0.50% 5-year swap minus 0% to 0.50% Weighted average discount rate 11.9 % 12.0 % Weighted average cost to service (in dollars) $ 226 $ 234

Loans Held for Sale (Tables)

Loans Held for Sale (Tables)	6 Months Ended
	Jun. 30, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Loans Held for Sale Fair Value	Loans Held for Sale - Fair Value Six Months Ended June 30, 2019 2018 Beginning balance $ 176,525 $ 214,262 Originations and purchases 370,207 497,980 Proceeds from sales (405,999 ) (559,042 ) Principal collections (11,046 ) (7,315 ) Transfers from (to): Loans held for investment, at fair value 884 (1,628 ) Loans held for sale - Lower of cost or fair value (2,866 ) — Receivables, net (746 ) — REO (Other assets) (866 ) — Gain on sale of loans 18,148 21,030 Decrease in fair value of loans (292 ) (10,872 ) Other (8,258 ) (509 ) Ending balance (1) $ 135,691 $ 153,906 (1) At June 30, 2019 and 2018 , the balances include fair value adjustments of $(7.5) million and $(5.9) million , respectively.
Schedule of Loans Held for Sale at Lower Cost or Fair Value, Activity	Loans Held for Sale - Lower of Cost or Fair Value Six Months Ended June 30, 2019 2018 Beginning balance $ 66,097 $ 24,096 Purchases 131,489 340,601 Proceeds from sales (92,478 ) (227,041 ) Principal collections (4,183 ) (7,584 ) Transfers from (to): Receivables, net (53,657 ) (78,514 ) REO (Other assets) (2,287 ) (1,358 ) Loans held for sale - Fair value 2,866 — Gain on sale of loans 1,815 957 Decrease (increase) in valuation allowance 1,512 (217 ) Other 9,206 4,607 Ending balance (1) $ 60,380 $ 55,547 (1) At June 30, 2019 and 2018 , the balances include $34.9 million and $48.6 million , respectively, of loans that we repurchased from Ginnie Mae guaranteed securitizations pursuant to Ginnie Mae servicing guidelines. We may repurchase loans that have been modified, to facilitate loss reduction strategies, or as otherwise obligated as a Ginnie Mae servicer. Repurchased loans may be modified or otherwise remediated through loss mitigation activities, may be sold to a third party, or are reclassified to receivables.
Schedule of Gains on Loans Held for Sale, Net	Gain on Loans Held for Sale, Net Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Gain on sales of loans, net MSRs retained on transfers of forward mortgage loans $ 816 $ 2,075 $ 1,644 $ 4,453 Fair value gains related to transfers of reverse mortgage loans, net 6,300 16,481 12,783 27,449 Gain on sale of repurchased Ginnie Mae loans 1,252 265 1,790 957 Gain on sale of forward mortgage loans 6,762 16,422 17,206 22,189 Other, net 457 (2,868 ) 2,587 (2,620 ) 15,587 32,375 36,010 52,428 Change in fair value of IRLCs 45 (1,265 ) (296 ) 111 Change in fair value of loans held for sale 468 (6,222 ) 326 (10,146 ) (Loss) gain on economic hedge instruments (968 ) (401 ) (3,238 ) 1,998 Other (57 ) (94 ) (132 ) (198 ) $ 15,075 $ 24,393 $ 32,670 $ 44,193
Valuation Allowance for Loans Held for Sale [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Changes in Allowance For Losses	Valuation Allowance - Loans Held for Sale at Lower of Cost or Fair Value Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Beginning balance $ 10,863 $ 8,503 $ 11,569 $ 7,318 Provision 394 (572 ) 1,036 281 Transfer from Liability for indemnification obligations (Other liabilities) 7 278 74 997 Sales of loans (1,207 ) (674 ) (2,622 ) (1,083 ) Other — — — 22 Ending balance $ 10,057 $ 7,535 $ 10,057 $ 7,535

Advances (Tables)

Advances (Tables)	6 Months Ended
	Jun. 30, 2019
Advances [Abstract]
Schedule of Advances Paid on Behalf of Borrowers or on Foreclosed Properties	June 30, 2019 December 31, 2018 Principal and interest $ 65,389 $ 43,671 Taxes and insurance 152,394 160,373 Foreclosures, bankruptcy and other 39,037 68,597 256,820 272,641 Allowance for losses (27,653 ) (23,259 ) $ 229,167 $ 249,382
Schedule of Activity in Advances	The following table summarizes the activity in net advances: Six Months Ended June 30, 2019 2018 Beginning balance $ 249,382 $ 211,793 Asset acquisitions 688 — Sales of advances (707 ) (877 ) Collections of advances, charge-offs and other, net (15,802 ) (37,109 ) Net increase in allowance for losses (4,394 ) (20 ) Ending balance $ 229,167 $ 173,787
Schedule of Change in Allowance for Losses	Allowance for Losses Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Beginning balance $ 23,135 $ 16,980 $ 23,259 $ 16,465 Provision 2,041 977 3,803 3,501 Net charge-offs and other 2,477 (1,472 ) 591 (3,481 ) Ending balance $ 27,653 $ 16,485 $ 27,653 $ 16,485

Match Funded Advances (Tables)

Match Funded Advances (Tables)	6 Months Ended
	Jun. 30, 2019
Transfers and Servicing [Abstract]
Schedule of Match Funded Assets	June 30, 2019 December 31, 2018 Principal and interest $ 414,824 $ 412,897 Taxes and insurance 316,815 374,853 Foreclosures, bankruptcy, REO and other 143,693 149,544 $ 875,332 $ 937,294
Schedule of Activity In Match Funded Assets	The following table summarizes the activity in match funded assets: Six Months Ended June 30, 2019 2018 Advances Advances Automotive Dealer Financing Notes Beginning balance $ 937,294 $ 1,144,600 $ 32,757 Transfer to Other assets — — (36,896 ) New advances (collections), net (61,962 ) (150,674 ) 1,504 Decrease in allowance for losses (1) — — 2,635 Ending balance $ 875,332 $ 993,926 $ — (1) The remaining allowance was charged off in connection with the exit from the automotive capital services business. In January 2018, we terminated the automotive dealer loan financing facility.

Mortgage Servicing (Tables)

Mortgage Servicing (Tables)	6 Months Ended
	Jun. 30, 2019
Transfers and Servicing [Abstract]
Schedule of Activity Related to MSRs - Amortization Method	MSRs – Amortization Method Six Months Ended June 30, 2019 2018 Beginning balance $ — $ 336,882 Fair value election - transfer of MSRs carried at fair value (1) — (361,670 ) Decrease in impairment valuation allowance (1) (2) — 24,788 Ending balance $ — $ — (1) Effective January 1, 2018, we elected fair value accounting for our MSRs previously accounted for using the amortization method, which included Agency MSRs and government-insured MSRs. This irrevocable election applies to all subsequently acquired or originated servicing assets and liabilities that have characteristics consistent with each of these classes. We recorded a cumulative-effect adjustment of $82.0 million to retained earnings as of January 1, 2018 to reflect the excess of the fair value of the Agency MSRs over their carrying amount. We also recognized the tax effect of this adjustment through an increase in retained earnings of $6.8 million and a deferred tax asset for the same amount. However, we established a full valuation allowance on the resulting deferred tax asset through a reduction in retained earnings. The government-insured MSRs were impaired by $24.8 million at December 31, 2017; therefore, these MSRs were already effectively carried at fair value. (2) Impairment valuation allowance balance of $24.8 million was reclassified to reduce the carrying value of the related MSRs on January 1, 2018 in connection with our fair value election.
Schedule of Activity Related to MSRs - Fair Value Measurement Method	MSRs – Fair Value Measurement Method Six Months Ended June 30, 2019 2018 Agency Non-Agency Total Agency Non-Agency Total Beginning balance $ 865,587 $ 591,562 $ 1,457,149 $ 11,960 $ 660,002 $ 671,962 Fair value election - transfer from MSRs carried at amortized cost — — — 336,882 — 336,882 Cumulative effect of fair value election — — — 82,043 — 82,043 Sales and other transfers (29 ) (541 ) (570 ) — (155 ) (155 ) Additions: Recognized on the sale of residential mortgage loans 2,698 — 2,698 5,885 — 5,885 Purchase of MSRs 114,302 87 114,389 — — — Servicing transfers and adjustments — (4,767 ) (4,767 ) — (2,375 ) (2,375 ) Changes in fair value (1): Changes in valuation inputs or other assumptions (171,676 ) 12,583 (159,093 ) 20,460 4,989 25,449 Realization of expected future cash flows and other changes (65,147 ) (32,026 ) (97,173 ) (29,633 ) (46,063 ) (75,696 ) Ending balance $ 745,735 $ 566,898 $ 1,312,633 $ 427,597 $ 616,398 $ 1,043,995 (1) Changes in fair value are recognized in MSR valuation adjustments, net in the unaudited consolidated statements of operations.
Schedule of Composition of Servicing and Subservicing Portfolios by Type of Property Serviced	The following table presents the composition of our residential primary servicing and subservicing portfolios as measured by UPB, including foreclosed real estate and small-balance commercial loans. The UPB amounts in the table below are not included on our unaudited consolidated balance sheets. UPB at June 30, 2019 Servicing $ 80,141,128 Subservicing 27,432,019 NRZ 121,709,898 $ 229,283,045 UPB at December 31, 2018 Servicing $ 72,378,693 Subservicing 53,104,560 NRZ 130,517,237 $ 256,000,490 UPB at June 30, 2018 Servicing $ 70,796,834 Subservicing 1,600,289 NRZ 94,729,891 $ 167,127,014
Schedule of Components of Servicing and Subservicing Fees	Servicing Revenue Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Loan servicing and subservicing fees Servicing $ 54,609 $ 55,783 $ 107,038 $ 114,779 Subservicing 4,203 871 10,410 1,786 NRZ 141,091 126,712 296,938 253,729 199,903 183,366 414,386 370,294 Late charges 13,242 15,315 28,682 29,904 Custodial accounts (float earnings) 13,341 8,461 25,275 15,724 Loan collection fees 3,401 4,767 7,750 9,785 Home Affordable Modification Program (HAMP) fees (1) 1,565 4,153 3,342 8,256 Other, net 7,730 6,165 15,610 10,402 $ 239,182 $ 222,227 $ 495,045 $ 444,365 (1) The HAMP expired on December 31, 2016. Borrowers who had requested assistance or to whom an offer of assistance had been extended as of that date had until September 30, 2017 to finalize their modification. We continue to earn HAMP success fees for HAMP modifications that remain less than 90 days delinquent at the first-, second- and third-year anniversary of the start of the trial modification.

Rights to MSRs (Tables)

Rights to MSRs (Tables)	6 Months Ended
	Jun. 30, 2019
Transfers and Servicing [Abstract]
Schedule of Assets, Liabilities, Servicing and Subservicing Fees Related to NRZ Agreements	The following tables present the assets and liabilities recorded on our unaudited consolidated balance sheets as well as the impacts to our unaudited consolidated statements of operations in connection with our NRZ agreements. Balance Sheets June 30, 2019 December 31, 2018 MSRS, at fair value $ 756,810 $ 894,002 Due from NRZ (Receivables) Sales and transfers of MSRs (1) $ 25,575 $ 23,757 Advance funding, subservicing fees and reimbursable expenses 15,102 30,845 $ 40,677 $ 54,602 Due to NRZ (Other Liabilities) $ 46,956 $ 53,001 Financing liability - MSRs pledged, at fair value Original Rights to MSRs Agreements $ 412,909 $ 436,511 2017 Agreements and New RMSR Agreements (2) 88,103 138,854 PMC MSR Agreements 343,901 457,491 $ 844,913 $ 1,032,856 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Statements of Operations Servicing fees collected on behalf of NRZ $ 141,091 $ 126,712 $ 296,938 $ 253,729 Less: Subservicing fee retained by Ocwen 35,905 34,444 73,312 68,661 Net servicing fees remitted to NRZ 105,186 92,268 223,626 185,068 Less: Reduction (increase) in financing liability Changes in fair value: Original Rights to MSRs Agreements (1,671 ) (8,897 ) (1,550 ) (8,782 ) 2017 Agreements and New RMSR Agreements 4,634 828 (2,346 ) 17,424 PMC MSR Agreements 47,782 — 80,878 — 50,745 (8,069 ) 76,982 8,642 Runoff and settlement: Original Rights to MSRs Agreements 11,412 15,991 20,447 34,843 2017 Agreements and New RMSR Agreements 26,062 33,971 49,382 69,666 PMC MSR Agreements 15,814 — 33,588 — 53,288 49,962 103,417 104,509 Other (1,777 ) (1,115 ) (3,658 ) (2,622 ) Interest expense $ 2,930 $ 51,490 $ 46,885 $ 74,539 (1) Balance represents the holdback of proceeds from PMC MSR sales and transfers to address indemnification claims and mortgage loan document deficiencies. These sales were executed by PMC prior to the acquisition date. (2) $104.9 million and $34.0 million is expected to be recognized as a reduction in the financing liability and interest expense for the years ended December 31, 2019 and 2020, respectively.
Schedule of Activity Related to Rights to Mortgage Servicing Rights	Financing Liability - MSRs Pledged Original Rights to MSRs Agreements 2017 Agreements and New RMSR Agreements PMC MSR Agreements Total Balance at December 31, 2018 $ 436,511 $ 138,854 $ 457,491 $ 1,032,856 Additions — — 876 876 Changes in fair value: Original Rights to MSRs Agreements 1,550 — — 1,550 2017 Agreements and New RMSR Agreements — 2,346 — 2,346 PMC MSR Agreements — — (80,878 ) (80,878 ) Runoff and settlement: Original Rights to MSRs Agreements (20,447 ) — — (20,447 ) 2017 Agreements and New RMSR Agreements — (49,382 ) — (49,382 ) PMC MSR Agreements — — (33,588 ) (33,588 ) Calls (1): Original Rights to MSRs Agreements (4,705 ) — — (4,705 ) 2017 Agreements and New RMSR Agreements — (3,715 ) — (3,715 ) Balance at June 30, 2019 $ 412,909 $ 88,103 $ 343,901 $ 844,913 Financing Liability - MSRs Pledged Original Rights to MSRs Agreements 2017 Agreements and New RMSR Agreements Total Balance at December 31, 2017 $ 499,042 $ 9,249 $ 508,291 Receipt of lump-sum cash payments — 279,586 279,586 Changes in fair value: Original Rights to MSRs Agreements 8,782 — 8,782 2017 Agreements and New RMSR Agreements — (17,424 ) (17,424 ) Runoff and settlement: Original Rights to MSRs Agreements (34,843 ) — (34,843 ) 2017 Agreements and New RMSR Agreements — (69,666 ) (69,666 ) Calls (1): Original Rights to MSRs Agreements (1,319 ) — (1,319 ) 2017 Agreements and New RMSR Agreements — (788 ) (788 ) Balance at June 30, 2018 $ 471,662 $ 200,957 $ 672,619 (1) Represents the carrying value of MSRs in connection with call rights exercised by NRZ, for MSRs transferred to NRZ under the 2017 Agreements and New RMSR Agreements, or by Ocwen at NRZ’s direction, for MSRs underlying the Original Rights to MSRs Agreements. Ocwen derecognizes the MSRs and the related financing liability upon collapse of the securitization.

Receivables (Tables)

Receivables (Tables)	6 Months Ended
	Jun. 30, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Receivables	June 30, 2019 December 31, 2018 Servicing-related receivables: Government-insured loan claims $ 103,631 $ 105,258 Due from NRZ: Sales and transfers of MSRs 25,575 23,757 Advance funding, subservicing fees and reimbursable expenses 15,102 30,845 Reimbursable expenses 15,557 11,508 Due from custodial accounts 14,235 9,060 Other 5,292 7,754 179,392 188,182 Income taxes receivable 37,768 45,987 Other receivables 23,096 17,672 240,256 251,841 Allowance for losses (52,271 ) (53,579 ) $ 187,985 $ 198,262
Government Insured Loans Claims [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of Changes in Allowance For Losses	Allowance for Losses - Government-Insured Loan Claims Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Beginning balance $ 51,280 $ 57,593 $ 52,497 $ 53,340 Provision 4,561 8,658 11,806 19,034 Charge-offs and other, net (5,330 ) (13,096 ) (13,792 ) (19,219 ) Ending balance $ 50,511 $ 53,155 $ 50,511 $ 53,155

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Other Assets [Line Items]
Schedule of Other Assets	June 30, 2019 December 31, 2018 Contingent loan repurchase asset $ 455,943 $ 302,581 Prepaid expenses 20,078 27,647 Prepaid representation, warranty and indemnification claims - Agency MSR sale 15,173 15,173 Deferred tax asset, net 6,304 5,289 REO 6,147 7,368 Derivatives, at fair value 4,223 4,552 Prepaid lender fees, net 4,162 6,589 Security deposits 2,296 2,278 Mortgage backed securities, at fair value 2,014 1,502 Interest-earning time deposits 401 1,338 Other 6,103 5,250 $ 522,844 $ 379,567

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of Match Funded Liabilities	Match Funded Liabilities June 30, 2019 December 31, 2018 Borrowing Type Maturity (1) Amorti- zation Date (1) Available Borrowing Capacity (2) Weighted Average Interest Rate (3) Balance Weighted Average Interest Rate (3) Balance Advance Financing Facilities: Advance Receivables Backed Notes - Series 2015-VF5 (4) Dec. 2049 Dec. 2019 $ 110,684 3.96 % $ 114,316 4.06 % $ 216,559 Advance Receivables Backed Notes - Series 2016-T2 (5) Aug. 2049 Aug. 2019 — 2.99 235,000 2.99 235,000 Advance Receivables Backed Notes, Series 2018-T1 (5) Aug. 2049 Aug. 2019 — 3.50 150,000 3.50 150,000 Advance Receivables Backed Notes, Series 2018-T2 (5) Aug. 2050 Aug. 2020 — 3.81 150,000 3.81 150,000 Total Ocwen Master Advance Receivables Trust (OMART) 110,684 3.47 649,316 3.56 751,559 Ocwen Freddie Advance Funding (OFAF) - Advance Receivables Backed Notes, Series 2015-VF1 (6) Jun. 2050 Jun. 2020 37,520 4.12 22,480 5.03 26,725 $ 148,204 3.49 % $ 671,796 3.61 % $ 778,284 (1) The amortization date of our facilities is the date on which the revolving period ends under each advance facility note and repayment of the outstanding balance must begin if the note is not renewed or extended. The maturity date is the date on which all outstanding balances must be repaid. In all of our advance facilities, there are multiple notes outstanding. For each note, after the amortization date, all collections that represent the repayment of advances pledged to the facility must be applied ratably to each outstanding amortizing note to reduce the balance and as such the collection of advances allocated to the amortizing note may not be used to fund new advances. (2) Borrowing capacity under the OMART and OFAF facilities is available to us provided that we have sufficient eligible collateral to pledge in accordance with their respective terms. At June 30, 2019 , $23.5 million of the available borrowing capacity of our advance financing notes could be used based on the amount of eligible collateral that had been pledged. (3) 1ML was 2.40% and 2.50% at June 30, 2019 and December 31, 2018 , respectively. (4) The total borrowing capacity of the Series 2015-VF5 variable notes is $225.0 million , with interest computed based on the lender’s cost of funds plus a margin of 105 to 250 bps. (5) Under the terms of the agreement, we must continue to borrow the full amount of the Series 2016-T2, 2018-T1 and 2018-T2 fixed-rate term notes until the amortization date. If there is insufficient eligible collateral to support the level of borrowing, the excess cash proceeds in an amount necessary to make up the deficit are not distributed to Ocwen but are held by the trustee, and interest expense continues to be based on the full amount of the outstanding notes. The Series 2016-T2, 2018-T1 and 2018-T2 term notes have a total combined borrowing capacity of $535.0 million . Rates on the individual classes of notes range from 2.72% to 4.53% . (6) On June 6, 2019, we renewed this facility through June 5, 2020 and borrowing capacity was reduced from $65.0 million to $60.0 million with interest computed based on the lender’s cost of funds plus a margin of 100 to 330 bps based on the various classes of notes.
Schedule of Financing Liabilities	Financing Liabilities Outstanding Balance Borrowing Type Collateral Interest Rate Maturity June 30, 2019 December 31, 2018 HMBS-Related Borrowings, at fair value (1) Loans held for investment 1ML + 260 bps (1) $ 5,745,383 $ 5,380,448 Other Financing Liabilities MSRs pledged, at fair value: Original Rights to MSRs Agreements MSRs (2) (2) 412,909 436,511 2017 Agreements and New RMSR Agreements MSRs (3) (3) 88,103 138,854 PMC MSR Agreements MSRs (4) (4) 343,901 457,491 844,913 1,032,856 Secured Notes, Ocwen Asset Servicing Income Series, Series 2014-1 (5) MSRs (5) Feb. 2028 62,841 65,523 Financing liability - Owed to securitization investors, at fair value: IndyMac Mortgage Loan Trust (INDX 2004-AR11) (6) Loans held for investment (6) (6) 10,629 11,012 Residential Asset Securitization Trust 2003-A11 (RAST 2003-A11) (6) Loans held for investment (6) (6) 13,068 13,803 23,697 24,815 Advances pledged (7) Advances on loans (7) (7) — 4,419 Total Other Financing Liabilities 931,451 1,127,613 $ 6,676,834 $ 6,508,061 (1) Represents amounts due to the holders of beneficial interests in Ginnie Mae guaranteed HMBS. The beneficial interests have no maturity dates, and the borrowings mature as the related loans are repaid. (2) This financing liability has no contractual maturity or repayment schedule. The balance of the liability is adjusted each reporting period to its fair value based on the present value of the estimated future cash flows underlying the related MSRs. (3) This financing liability arose in connection with lump sum payments received upon transfer of legal title of the MSRs related to the Rights to MSRs transactions to NRZ in September 2017. In connection with the execution of the New RMSR Agreements in January 2018, we received a lump sum payment of $279.6 million as compensation for foregoing certain payments under the Original Rights to MSRs Agreements. The balance of the liability is adjusted each reporting period to its fair value based on the present value of the estimated future cash flows. The expected maturity of the liability is April 30, 2020, the date through which we were scheduled to be the servicer on loans underlying the Rights to MSRs per the Original Rights to MSRs Agreements. (4) Represents a liability for sales of MSRs that are accounted for as a secured borrowing which we assumed in connection with the acquisition of PHH. Under this accounting treatment, the MSRs transferred to NRZ remain on the consolidated balance sheet and the proceeds from the sale are recognized as a secured liability. We elected to record the liability at fair value consistent with the related MSRs. (5) OASIS noteholders are entitled to receive a monthly payment equal to the sum of: (a) 21 basis points of the UPB of the reference pool of Freddie Mac mortgages; (b) any termination payment amounts; (c) any excess refinance amounts; and (d) the note redemption amounts, each as defined in the indenture supplement for the notes. Monthly amortization of the liability is estimated using the proportion of monthly projected service fees on the underlying MSRs as a percentage of lifetime projected fees, adjusted for the term of the notes. (6) Consists of securitization debt certificates due to third parties that represent beneficial interests in trusts that we include in our unaudited consolidated financial statements, as more fully described in Note 4 – Securitizations and Variable Interest Entities . The holders of these certificates have no recourse against the assets of Ocwen. The certificates in the INDX 2004-AR11 Trust pay interest based on variable rates which are generally based on weighted average net mortgage rates and which range between 3.70% and 4.29% at June 30, 2019 . The certificates in the RAST 2003-A11 Trust pay interest based on fixed rates ranging between 4.25% and 5.75% and a variable rate based on 1ML plus 0.45% . The maturity of the certificates occurs upon maturity of the loans held by the trust. The remaining loans in the INDX 2004-AR11 Trust and RAST 2003-A11 Trust have maturity dates extending through November 2034 and October 2033, respectively. (7) Certain sales of advances did not qualify for sales accounting treatment and were accounted for as a financing. This financing liability has no contractual maturity. The effective interest rate is based on 1ML plus a margin of 450 bps.
Schedule of Other Secured Borrowings	Other Secured Borrowings Outstanding Balance Borrowing Type Collateral Interest Rate Termination / Maturity Available Borrowing Capacity (1) June 30, 2019 December 31, 2018 SSTL (2) (2) 1-Month Euro-dollar rate + 500 bps with a Eurodollar floor of 100 bps (2) Dec. 2020 $ — $ 338,784 $ 231,500 Mortgage loan warehouse facilities Repurchase agreement (3) Loans held for sale (LHFS) 1ML + 195 - 300 bps Sep. 2019 — 109,807 74,693 Participation agreement (4) LHFS N/A Jul. 2019 — — 42,331 Mortgage warehouse agreement (5) LHFS (reverse mortgages) 1ML + 275 bps; 1ML floor of 350 bps Aug. 2019 — 9,630 8,009 Master repurchase agreement (6) LHFS (forward and reverse mortgages) 1ML + 225 bps forward; 1ML + 275 bps reverse Dec. 2019 165,425 34,575 30,680 Master repurchase agreement (7) LHFS (reverse mortgages) Prime + 0.0% (4.0% floor) Jan. 2020 — 439 — Master repurchase agreement (8) N/A 1ML + 170bps N/A — — — Participation agreement (9) LHFS N/A Feb. 2020 — 28,478 — 165,425 182,929 155,713 $ 165,425 521,713 387,213 Unamortized debt issuance costs - SSTL (3,456 ) (3,098 ) Discount - SSTL (1,776 ) (1,577 ) $ 516,481 $ 382,538 Weighted average interest rate 5.22 % 5.49 % (1) Available borrowing capacity for our mortgage loan warehouse facilities does not consider the amount of the facility that the lender has extended on an uncommitted basis. Of the borrowing capacity extended on a committed basis, none could be used at June 30, 2019 based on the amount of eligible collateral that could be pledged. (2) On March 18, 2019, we entered into a Joinder and Amendment Agreement (the Amendment) which amends the existing Amended and Restated SSTL Facility Agreement dated December 5, 2016 to provide an additional term loan of $120.0 million subject to the same maturity, interest rate and other material terms of existing borrowings under the SSTL. Effective with the Amendment, the quarterly principal payment has been increased from $4.2 million to $6.4 million beginning March 31, 2019. See information regarding collateral in the table below. Borrowings bear interest, at the election of Ocwen, at a rate per annum equal to either (a) the base rate (the greatest of (i) the prime rate in effect on such day, (ii) the federal funds rate in effect on such day plus 0.50% and (iii) 1ML, plus a margin of 4.00% and subject to a base rate floor of 2.00% or (b) 1ML, plus a margin of 5.00% and subject to a 1ML floor of 1.00% . To date, we have elected option (b) to determine the interest rate. (3) The maximum borrowing under this agreement is $175.0 million , of which $100.0 million is available on a committed basis and the remainder is available at the discretion of the lender. (4) Effective with the merger of Homeward into PMC in February 2019, an existing participation agreement with uncommitted borrowing capacity of $75.0 million was terminated. Effective with the merger of OLS into PMC in June 2019, the remaining participation agreement with uncommitted borrowing capacity of $175.0 million was also terminated. (5) Under this participation agreement, the lender provides financing for $100.0 million on an uncommitted basis. The participation agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing. (6) The maximum borrowing under this agreement is $250.0 million , of which $200.0 million is available on a committed basis and the remainder is available on an uncommitted basis. The agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing. (7) Under this agreement, t he lender provides financing for up to $50.0 million on an uncommitted basis. On January 23, 2019, we renewed this facility through January 22, 2020. (8) This agreement was originally entered into by PHH and subsequently assumed by Ocwen in connection with its acquisition of PHH. T he facility provides financing for up to $200.0 million at the discretion of the provider. The agreement has no stated maturity date. (9) We entered into a master participation agreement on February 4, 2019 under which the lender will provide $300.0 million of borrowing capacity to PMC on an uncommitted basis. The participation agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing. The lender earns the stated interest rate of the underlying mortgage loans while the loans are financed under the participation agreement.
Schedule of Senior Notes	Senior Notes Interest Rate Maturity Outstanding Balance June 30, 2019 December 31, 2018 Senior unsecured notes (1) PHH 7.375% Sep. 2019 $ 97,521 $ 97,521 PHH 6.375% Aug. 2021 21,543 21,543 119,064 119,064 Senior secured notes 8.375% Nov. 2022 330,878 330,878 449,942 449,942 Unamortized debt issuance costs (1,825 ) (2,075 ) Fair value adjustments (1) (540 ) 860 $ 447,577 $ 448,727 (1) These notes were originally issued by PHH and subsequently assumed by Ocwen in connection with its acquisition of PHH. We recorded the notes at their respective fair values on the date of acquisition, and we are amortizing the resulting fair value purchase accounting adjustments over the remaining term of the notes. We have the option to redeem the notes due in August 2021, in whole or in part, on or after January 1, 2019 at a redemption price equal to 100.0% of the principal amount plus any accrued and unpaid interest.
Schedule of Redemption Prices	The redemption prices during the twelve-month periods beginning on November 15 th of each year are as follows: Year Redemption Price 2018 106.281% 2019 104.188% 2020 102.094% 2021 and thereafter 100.000%
Schedule of Assets Held as Collateral Related to Secured Borrowings	Our assets held as collateral related to secured borrowings, committed under sale or other contractual obligations and which may be subject to secured liens under the SSTL and Senior Secured Notes are as follows at June 30, 2019 : Collateral for Secured Borrowings Total Assets Match Funded Liabilities Financing Liabilities Mortgage Loan Warehouse Facilities Sales and Other Commitments (1) Other (2) Cash $ 287,724 $ — $ — $ — $ — $ 287,724 Restricted cash 60,708 15,488 — 4,100 41,120 — MSRs 1,312,633 — 824,442 — — 488,191 Advances, net 229,167 — — — 30,757 198,410 Match funded advances 875,332 875,332 — — — — Loans held for sale 196,071 — — 151,878 — 44,193 Loans held for investment 5,897,731 — 5,818,251 38,483 — 40,997 Receivables, net 187,985 — — 35,903 — 152,082 Premises and equipment, net 57,598 — — — — 57,598 Other assets 522,844 — — 4,000 473,412 45,432 Total assets $ 9,627,793 $ 890,820 $ 6,642,693 $ 234,364 $ 545,289 $ 1,314,627 (1) Sales and Other Commitments include MSRs and related advances committed under sale agreements, Restricted cash and deposits held as collateral to support certain contractual obligations, and Contingent loan repurchase assets related to the Ginnie Mae EBO program for which a corresponding liability is recognized in Other liabilities. (2) The borrowings under the SSTL are secured by a first priority security interest in substantially all of the assets of Ocwen, PHH, PMC and the other guarantors thereunder, excluding among other things, 35% of the voting capital stock of foreign subsidiaries, securitization assets and equity interests of securitization entities, assets securing permitted funding indebtedness and non-recourse indebtedness, REO assets, Agency MSRs with respect to which an acknowledgment agreement acknowledging such security interest has not been obtained, as well as other customary carve-outs (collectively, the Collateral). The Collateral is subject to certain permitted liens set forth under the SSTL and related security agreement. The Senior Secured Notes are guaranteed by Ocwen and the other guarantors that guarantee the SSTL, and the borrowings under the Senior Secured Notes are secured by a second priority security interest in the Collateral. Security interests securing borrowings under the SSTL and Senior Secured Notes may include amounts presented in Other as well as certain assets presented in Collateral for Secured Borrowings and Sales and Other Commitments, subject to permitted liens as defined in the applicable debt documents. The amounts presented here may differ in their calculation and are not intended to represent amounts that may be used in connection with covenants under the applicable debt documents.

Other Liabilities (Tables)

Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2019
Other Liabilities Disclosure [Abstract]
Schedule of Other Liabilities	June 30, 2019 December 31, 2018 Contingent loan repurchase liability $ 455,943 $ 302,581 Other accrued expenses 76,851 99,739 Lease liability 55,489 — Accrued legal fees and settlements 53,072 62,763 Due to NRZ - Advance collections and servicing fees 46,956 53,001 Servicing-related obligations 45,850 41,922 Liability for indemnification obligations 44,681 51,574 Checks held for escheat 35,232 20,686 Liability for uncertain tax positions 12,942 13,739 Liability for unfunded pension obligation 12,400 12,683 Accrued interest payable 9,045 7,209 Liability for mortgage insurance contingency 6,820 6,820 Derivatives, at fair value 3,934 4,986 Deferred revenue 3,210 4,441 Other 29,786 21,492 $ 892,211 $ 703,636
Schedule of Accrued Legal Fees and Settlements	Accrued Legal Fees and Settlements Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Beginning balance $ 52,916 $ 46,305 $ 62,763 $ 51,057 Net accrual (reversal of accrual) for probable losses(1) (465 ) 2,330 (1,096 ) 9,782 Payments (2) (1,100 ) (1,607 ) (10,507 ) (7,643 ) Issuance of common stock in settlement of litigation(3) — — — (5,719 ) Net increase in accrued legal fees 1,657 5,031 1,848 4,732 Other 64 2,236 64 2,086 Ending balance $ 53,072 $ 54,295 $ 53,072 $ 54,295 (1) Consists of amounts accrued for probable losses in connection with legal and regulatory settlements and judgments. Such amounts are reported in Professional services expense in the unaudited consolidated statements of operations. (2) Includes cash payments made in connection with resolved legal and regulatory matters. (3) In January 2018, Ocwen issued 1,875,000 shares of common stock in connection with a securities litigation settlement.

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Activity	The following table summarizes derivative activity, including the derivatives used in each of our identified hedging programs. The notional amount of our contracts does not represent our exposure to credit loss. None of the derivatives were designated as a hedge for accounting purposes at June 30, 2019 : Interest Rate Risk IRLCs and Loans Held for Sale Borrowings IRLCs Forward MBS Trades Interest Rate Caps Notional balance at June 30, 2019 $ 118,099 $ 126,762 $ 122,083 Maturity July 2019 - Sept. 2019 July 2019 Aug. 2019 - May 2020 Fair value of derivative assets (liabilities) (1) at: June 30, 2019 $ 4,105 $ (3,863 ) $ 47 December 31, 2018 3,871 (4,983 ) 678 Gains (losses) on derivatives during the six months ended: Gain on loans held for sale, net Other, Net June 30, 2019 $ (296 ) $ (3,238 ) $ (335 ) June 30, 2018 111 1,998 (78 ) (1) Derivatives are reported at fair value in Other assets or in Other liabilities on our unaudited consolidated balance sheets.

Interest Expense (Tables)

Interest Expense (Tables)	6 Months Ended
	Jun. 30, 2019
Other Income and Expenses [Abstract]
Schedule of Components of Interest Expense	Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Financing liabilities NRZ $ 2,930 $ 51,490 $ 46,885 $ 74,539 Other financing liabilities 822 1,349 1,892 2,544 3,752 52,839 48,777 77,083 Senior notes 8,502 7,452 17,014 14,903 Other secured borrowings 9,245 8,044 17,123 16,232 Match funded liabilities 7,045 7,714 14,697 17,262 Other 3,027 1,454 4,405 2,833 $ 31,571 $ 77,503 $ 102,016 $ 128,313

Basic and Diluted Earnings (L_2

Basic and Diluted Earnings (Loss) per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of Reconciliation of Calculation of Basic Loss per Share to Diluted Loss per Share	Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Basic and Diluted loss per share Net loss attributable to Ocwen stockholders $ (89,737 ) $ (29,831 ) $ (134,231 ) $ (27,283 ) Weighted average shares of common stock — basic and diluted 134,465,741 133,856,132 134,193,874 133,490,828 Basic and Diluted loss per share $ (0.67 ) $ (0.22 ) $ (1.00 ) $ (0.20 ) Stock options and common stock awards excluded from the computation of diluted earnings per share Anti-dilutive (1) 4,107,485 6,492,703 4,126,819 6,498,025 Market-based (2) 854,181 645,984 854,181 645,984 (1) Includes stock options that are anti-dilutive because their exercise price was greater than the average market price of Ocwen’s stock, and stock awards that are anti-dilutive based on the application of the treasury stock method. (2) Shares that are issuable upon the achievement of certain market-based performance criteria related to Ocwen’s stock price.

Business Segment Reporting (Tab

Business Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting Information [Line Items]
Schedule of Segment Reporting Information	Financial information for our segments is as follows: Three Months Ended June 30, 2019 Results of Operations Servicing Lending Corporate Items and Other Corporate Eliminations Business Segments Consolidated Revenue $ 242,510 $ 28,794 $ 3,034 $ — $ 274,338 Expenses (1) 290,087 21,026 20,381 — 331,494 Other income (expense): Interest income 1,872 1,546 419 — 3,837 Interest expense (14,191 ) (1,399 ) (15,981 ) — (31,571 ) Bargain purchase gain — — (96 ) (96 ) Other 890 444 (681 ) — 653 Other income (expense), net (11,429 ) 591 (16,339 ) — (27,177 ) Income (loss) before income taxes $ (59,006 ) $ 8,359 $ (33,686 ) $ — $ (84,333 ) Three Months Ended June 30, 2018 Results of Operations Servicing Lending Corporate Items and Other Corporate Eliminations Business Segments Consolidated Revenue $ 230,509 $ 19,002 $ 4,070 $ — $ 253,581 Expenses (1) 166,888 17,785 20,977 — 205,650 Other income (expense): Interest income 1,466 1,360 529 — 3,355 Interest expense (62,675 ) (1,472 ) (13,356 ) — (77,503 ) Other (326 ) 294 (2,156 ) — (2,188 ) Other income (expense), net (61,535 ) 182 (14,983 ) — (76,336 ) Income (loss) before income taxes $ 2,086 $ 1,399 $ (31,890 ) $ — $ (28,405 ) Six months ended June 30, 2019 Revenue $ 501,784 $ 69,885 $ 6,557 $ — $ 578,226 Expenses (1) (2) 555,984 42,357 13,258 — 611,599 Other income (expense): Interest income 4,165 3,095 1,135 — 8,395 Interest expense (68,889 ) (3,067 ) (30,060 ) — (102,016 ) Bargain purchase gain — — (381 ) — (381 ) Other 2,416 663 (1,121 ) — 1,958 Other income (expense), net (62,308 ) 691 (30,427 ) — (92,044 ) Income (loss) before income taxes $ (116,508 ) $ 28,219 $ (37,128 ) $ — $ (125,417 ) Six months ended June 30, 2018 Revenue $ 456,605 $ 48,197 $ 9,036 $ — $ 513,838 Expenses (1) 337,984 38,081 36,086 — 412,151 Other income (expense): Interest income 1,894 2,852 1,309 — 6,055 Interest expense (97,193 ) (3,417 ) (27,703 ) — (128,313 ) Other (754 ) 620 (2,735 ) — (2,869 ) Other income (expense), net (96,053 ) 55 (29,129 ) — (125,127 ) Income (loss) before income taxes $ 22,568 $ 10,171 $ (56,179 ) $ — $ (23,440 ) Total Assets Servicing Lending Corporate Items and Other Corporate Eliminations Business Segments Consolidated June 30, 2019 $ 3,195,218 $ 5,978,325 $ 454,250 $ — $ 9,627,793 December 31, 2018 $ 3,306,208 $ 5,603,481 $ 484,527 $ — $ 9,394,216 June 30, 2018 $ 2,851,910 $ 5,242,716 $ 325,570 $ — $ 8,420,196 Depreciation and Amortization Expense Servicing Lending Corporate Items and Other Business Segments Consolidated Three months ended June 30, 2019 Depreciation expense $ 761 $ 46 $ 10,205 $ 11,012 Amortization of debt discount — — 350 350 Amortization of debt issuance costs — — 751 751 Three months ended June 30, 2018 Depreciation expense $ 1,256 $ 25 $ 4,834 $ 6,115 Amortization of debt discount — — 442 442 Amortization of debt issuance costs — — 1,005 1,005 Six months ended June 30, 2019 Depreciation expense $ 1,569 $ 81 $ 17,913 $ 19,563 Amortization of debt discount — — 701 701 Amortization of debt issuance costs — — 1,451 1,451 Six months ended June 30, 2018 Depreciation expense $ 2,613 $ 54 $ 9,973 $ 12,640 Amortization of debt discount — — 706 706 Amortization of debt issuance costs — — 1,662 1,662 (1) Compensation and benefits expense in the Corporate Items and Other segment for the three and six months ended June 30, 2019 and 2018 includes $0.8 million and $19.2 million , and $1.6 million , and $7.3 million , respectively, of severance expense attributable to PHH integration-related headcount reductions of primarily U.S.-based employees in 2019 and headcount reductions in connection with our strategic decisions to exit the automotive capital services business and the forward lending correspondent and wholesale channels in late 2017 and early 2018, as well as our overall efforts to reduce costs. (2) Included in the Corporate Items and Other segment for the six months ended June 30, 2019 , we recorded in Professional services expense a recovery from a service provider of $30.7 million during the first quarter of 2019 of amounts previously recognized as expense.
Depreciation and Amortization [Member]
Segment Reporting Information [Line Items]
Schedule of Segment Reporting Information	Depreciation and Amortization Expense Servicing Lending Corporate Items and Other Business Segments Consolidated Three months ended June 30, 2019 Depreciation expense $ 761 $ 46 $ 10,205 $ 11,012 Amortization of debt discount — — 350 350 Amortization of debt issuance costs — — 751 751 Three months ended June 30, 2018 Depreciation expense $ 1,256 $ 25 $ 4,834 $ 6,115 Amortization of debt discount — — 442 442 Amortization of debt issuance costs — — 1,005 1,005 Six months ended June 30, 2019 Depreciation expense $ 1,569 $ 81 $ 17,913 $ 19,563 Amortization of debt discount — — 701 701 Amortization of debt issuance costs — — 1,451 1,451 Six months ended June 30, 2018 Depreciation expense $ 2,613 $ 54 $ 9,973 $ 12,640 Amortization of debt discount — — 706 706 Amortization of debt issuance costs — — 1,662 1,662

Commitments (Tables)

Commitments (Tables)	6 Months Ended
	Jun. 30, 2019
Other Commitments [Abstract]
Schedule of Activity Related to HMBS Repurchases	Activity with regard to HMBS repurchases, including MCA repurchases, follows: Six Months Ended June 30, 2019 Active Inactive Total Number Amount Number Amount Number Amount Beginning balance 10 $ 2,047 252 $ 14,833 262 $ 16,880 Additions (1) 21 6,333 100 9,354 121 15,687 Recoveries, net (2) (9 ) (4,429 ) (113 ) (5,076 ) (122 ) (9,505 ) Transfers 1 (332 ) (1 ) 332 — — Changes in value — — — (939 ) — (939 ) Ending balance 23 $ 3,619 238 $ 18,504 261 $ 22,123 (1) Total repurchases during the six months ended June 30, 2019 includes 44 loans totaling $8.3 million related to MCA repurchases. (2) Includes amounts received upon assignment of loan to HUD, loan payoff, REO liquidation and claim proceeds less any amounts charged off as unrecoverable.

Contingencies (Tables)

Contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Loss Contingency [Abstract]
Schedule of Indemnification Obligations	The following table presents the changes in our liability for representation and warranty obligations and compensatory fees for foreclosures that may ultimately exceed investor timelines and similar indemnification obligations: Six Months Ended June 30, 2019 2018 Beginning balance (1) $ 49,267 $ 19,229 Provision for (reversal of) representation and warranty obligations (3,831 ) 2,072 New production reserves 132 198 Charge-offs and other (2) (2,718 ) (3,643 ) Ending balance (1) $ 42,850 $ 17,856 (1) The liability for representation and warranty obligations and compensatory fees for foreclosures is reported in Other liabilities (a component of Liability for indemnification obligations) on our unaudited consolidated balance sheets. (2) Includes principal and interest losses realized in connection with repurchased loans, make-whole, indemnification and fee payments and settlements net of recoveries, if any.

Organization, Business Enviro_4

Organization, Business Environment and Basis of Presentation - Narrative (Details) $ in Thousands	Mar. 18, 2019USD ($)	Jun. 30, 2019USD ($)Employee	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)Employee	Jun. 30, 2018USD ($)	Jul. 01, 2019USD ($)	Oct. 04, 2018USD ($)
Description of Business and Basis of Presentation [Line Items]
Total number of employees | Employee		6,200		6,200
Percentage of foreign based employees engaged in supporting loan servicing operations				80.00%
Unpaid principal balance on servicing assets acquired		$ 10,800,000		$ 10,800,000			$ 42,300,000
Proceeds from additional borrowings on SSTL	$ 120,000
Current maturities of borrowings in next 12 months		827,700		$ 827,700
Debt instrument, term				364 days
Gain on sale of mortgage servicing rights, net			$ 100	$ 869	$ 1,036
Amortization of debt issuance costs		751	1,005	1,451	1,662
Repayment of SSTL borrowings				$ (12,716)	(58,375)
Estimated incremental borrowing rate				7.50%
Restricted cash		41,120	$ 3,412	$ 41,120	$ 3,412
Accelerated amortization				2,800
Leased Facility [Member]
Description of Business and Basis of Presentation [Line Items]
Restricted cash		$ 23,200		$ 23,200
INDIA
Description of Business and Basis of Presentation [Line Items]
Total number of employees | Employee		3,700		3,700
PHILIPPINES
Description of Business and Basis of Presentation [Line Items]
Total number of employees | Employee		500		500
Subsequent Event [Member]
Description of Business and Basis of Presentation [Line Items]
Proceeds from issuance of secured debt						$ 300,000

Organization, Business Enviro_5

Organization, Business Environment and Basis of Presentation - Schedule of Right of Use Asset and Lease Liability (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2019		Jun. 30, 2018	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Right-of-use asset				$ 0
Lease liability		$ 55,489			$ 0
Cumulative effect of adopting ASU 2016-02		16
Premises and Equipment [Member]
Lessee, Lease, Description [Line Items]
Right-of-use asset		66,231
Right-of-use lease asset	[1]	44,793
Right of use of assets, reclassification of existing balances		(21,438)
Other Assets [Member]
Lessee, Lease, Description [Line Items]
Prepaid expenses (rent)					977
Right of use of assets, reclassification of existing balances		(977)
Other Liabilities [Member]
Lessee, Lease, Description [Line Items]
Liability for lease abandonments and deferred rent					(5,498)
Lease liability		65,270	[1]		(66,247)
Liability for lease abandonments and deferred rent, reclassification of existing balances		5,498
Lease liability, reclassification of existing balances		977
Liabilities Related to Discontinued Operations [Member]
Lessee, Lease, Description [Line Items]
Liability for lease abandonments and deferred rent	[2]				$ (15,940)
Liability for lease abandonments	[2]	$ 15,940
[1]	ROU assets as of January 1, 2019 after transition adjustments includes $30.4 million related to premises located in the U.S., $13.6 million related to premises located in India and the Philippines, and $0.7 million related to equipment.
[2]	Represents lease impairments recognized by PHH prior to the acquisition.

Organization, Business Enviro_6

Organization, Business Environment and Basis of Presentation - Schedule of Right of Use Asset and Lease Liability (Footnote) (Details) $ in Millions	Jan. 01, 2019USD ($)
Equipment [Member]
Lessee, Lease, Description [Line Items]
Right-of-use lease asset	$ 0.7
UNITED STATES
Lessee, Lease, Description [Line Items]
Right-of-use lease asset	30.4
INDIA
Lessee, Lease, Description [Line Items]
Right-of-use lease asset	$ 13.6

Organization, Business Enviro_7

Organization, Business Environment and Basis of Presentation - Schedule of Maturity Analysis of our Lease Liability (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Leases [Abstract]
2020	$ 19,312
2021	16,556
2022	15,558
2023	9,558
2024	1,659
Thereafter	1,268
Operating lease liability	63,911
Less: Adjustment to present value	(8,422)
Total minimum lease payments, net	$ 55,489	$ 0

Business Acquisitions - Schedul

Business Acquisitions - Schedule of Purchase Price Allocation of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Oct. 04, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Business Acquisition [Line Items]
MSR valuation adjustments, net		$ 147,268	$ 33,118	$ 256,266	$ 50,247
Servicing and subservicing fees		239,182	222,227	495,045	444,365
Bargain purchase gain		(96)	$ 0	(381)	$ 0
PHH Corporation [Member]
Business Acquisition [Line Items]
Cash	$ 423,088	423,088		423,088
Restricted cash	38,813	38,813		38,813
MSRs	518,127	518,127		518,127
MSRs, adjustments				0
Advances, net	96,163	96,163		96,163
Loans held for sale	42,324	42,682		42,682
Loans held for sale, adjustment				358
Receivables, net	46,838	46,742		46,742
Receivables net, adjustment				(96)
Premises and equipment, net	15,203	15,203		15,203
REO	3,289	3,289		3,289
Other assets	6,293	6,293		6,293
Assets related to discontinued operations	2,017	2,017		2,017
Financing liabilities (MSRs pledged, at fair value)	(481,020)	(481,020)		(481,020)
Other secured borrowings, net	(27,594)	(27,594)		(27,594)
Senior notes, net (Senior unsecured notes)	(120,624)	(120,624)		(120,624)
Accrued legal fees and settlements	(9,960)	(9,960)		(9,960)
Other accrued expenses	(36,889)	(36,889)		(36,889)
Loan repurchase and indemnification liability	(27,736)	(27,736)		(27,736)
Unfunded pension liability	(9,815)	(9,815)		(9,815)
Other liabilities	(34,131)	(34,774)		(34,774)
Other liabilities, adjustment				643
Liabilities related to discontinued operations	(21,954)	(21,954)		(21,954)
Total identifiable net assets	422,432	$ 422,051		422,051
Total identifiable net assets, adjustment				(381)
Total consideration paid to seller	(358,396)			(358,396)
Bargain purchase gain	$ 64,036			63,655
Bargain purchase gain, adjustment				$ (381)

Business Acquisitions - Narrati

Business Acquisitions - Narrative (Details) $ in Millions	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
State net operating loss carryforwards	$ 50.3
State tax credits	9.2
PHH Corporation [Member]
Business Acquisition [Line Items]
Federal net operating loss carryforwards	30.2
State net operating loss carryforwards	50.3
State tax credits	9.2
UNITED STATES
Business Acquisition [Line Items]
Net operating loss carryforwards	58.2
VIRGIN ISLANDS, US
Business Acquisition [Line Items]
Net operating loss carryforwards	$ 3.1

Business Acquisitions - Sched_2

Business Acquisitions - Schedule of Supplemental Pro Forma Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Business Acquisition [Line Items]
Increase in valuation of acquired MSRs		$ 147,268	$ 33,118	$ 256,266	$ 50,247
Total net increase in revenue		274,338	253,581	578,226	513,838
Adjust depreciation expense to amortize internally developed software acquired from PHH on a straight-line basis based on a useful life of three years		11,012	6,115	19,563	12,640
Income tax benefit based on management’s estimate of the blended applicable statutory tax rates and observing the continued need for a valuation allowance		$ 5,404	1,348	$ 8,814	3,696
PHH Corporation [Member]
Business Acquisition [Line Items]
Acquisition related costs			5,481		9,164
PHH Corporation [Member] | Fair Value Adjustments In Connection With Acquisition [Member]
Business Acquisition [Line Items]
Increase in valuation of acquired MSRs			6,829		1,082
Adjust interest expense for a total net decline	[1]		9,879		12,216
Total net increase in revenue	[2]		47,552		81,460
Adjust depreciation expense to amortize internally developed software acquired from PHH on a straight-line basis based on a useful life of three years			245		490
Income tax benefit based on management’s estimate of the blended applicable statutory tax rates and observing the continued need for a valuation allowance	[3]		$ 580		$ 1,458
[1]	Primarily pertains to fair value adjustments of $10.1 million and $12.7 million for the three and six months ended June 30, 2018, respectively, related to the assumed MSR secured liability using valuation assumptions consistent with Ocwen’s methodology.
[2]	Primarily pertains to an increase to revenue of $42.6 million and $87.4 million for the three and six months ended June 30, 2018, respectively, for the gross-up of PHH MSRs sold and accounted for as a secured borrowing. The offset of the remaining adjustments are expenses, interest income and interest expense, with no net effect on earnings.
[3]	The net income tax benefit recorded as a result of pro forma adjustments represents lower current federal tax under the new base erosion and anti-abuse tax (BEAT) provision of the 2017 Tax Cuts and Jobs Act (Tax Act) assuming Ocwen and PHH would file a consolidated federal tax return beginning January 1, 2017. The pro forma tax adjustments contemplate the effects of the Tax Act.

Business Acquisitions - Sched_3

Business Acquisitions - Schedule of Supplemental Pro Forma Information (Footnote) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Business Acquisition [Line Items]
MSR valuation adjustments, net	$ 147,268	$ 33,118	$ 256,266	$ 50,247
Servicing and subservicing fees	239,182	222,227	495,045	444,365
Fair Value Adjustments In Connection With Acquisition [Member] | PHH Corporation [Member]
Business Acquisition [Line Items]
MSR valuation adjustments, net		$ 6,829		$ 1,082
Servicing and subservicing fees	42,600		87,400
Financing Liability - MSRs Pledged [Member] | Fair Value Adjustments In Connection With Acquisition [Member] | PHH Corporation [Member]
Business Acquisition [Line Items]
MSR valuation adjustments, net	$ 10,100		$ 12,700

Business Acquisitions - Sched_4

Business Acquisitions - Schedule of Pro Forma Results of Operations (Details) - PHH Corporation [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Business Acquisition [Line Items]
Revenues	$ 335,846	$ 680,368
Net loss from continuing operations	$ (57,225)	$ (68,426)

Cost Reengineering Plan - Sched

Cost Reengineering Plan - Schedule of Expenses Incurred To-Date, Including an Estimate of Remaining and Total Plan Costs (Details) - USD ($) $ in Thousands		3 Months Ended				6 Months Ended
		Jun. 30, 2019		Mar. 31, 2019	[1]	Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Costs incurred in current year		$ 10,126	[1]	$ 22,115		$ 32,241
Estimate of remaining costs	[2]	32,759				32,759
Total plan costs						65,000
Employee-related [Member]
Restructuring Cost and Reserve [Line Items]
Costs incurred in current year		3,460	[1]	20,787		24,247
Estimate of remaining costs	[2]	10,153				10,153
Total plan costs						34,400
Facility-related [Member]
Restructuring Cost and Reserve [Line Items]
Costs incurred in current year		3,047	[1]	0		3,047
Estimate of remaining costs	[2]	3,553				3,553
Total plan costs						6,600
Other [Member]
Restructuring Cost and Reserve [Line Items]
Costs incurred in current year		3,619	[1]	$ 1,328		4,947
Estimate of remaining costs	[2]	$ 19,053				19,053
Total plan costs						$ 24,000
[1]	The above expenses were all incurred within the Corporate Items and Other segment. Employee-related costs and facility-related costs are reported in Compensation and benefits expense and Occupancy and equipment expense, respectively, in the unaudited consolidated statements of operations. Other costs are primarily reported in Professional services expense and Other expenses.
[2]	We expect to incur the remaining plan costs within the year ending December 31, 2019.

Cost Reengineering Plan - Sch_2

Cost Reengineering Plan - Schedule of Aggregate Activity of Liability for Re-Engineering Plan Costs (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2019		Mar. 31, 2019		Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Beginning balance			$ 0		$ 0
Charges	$ 10,126	[1]	22,115	[1]	32,241
Payments					(14,252)
Ending balance	17,989				17,989
Employee-related [Member]
Restructuring Cost and Reserve [Line Items]
Beginning balance			0		0
Charges	3,460	[1]	20,787	[1]	24,247
Payments					(9,855)
Ending balance	14,392				14,392
Facility-related [Member]
Restructuring Cost and Reserve [Line Items]
Beginning balance			0		0
Charges	3,047	[1]	0	[1]	3,047
Payments					0
Ending balance	3,047				3,047
Other [Member]
Restructuring Cost and Reserve [Line Items]
Beginning balance			0		0
Charges	3,619	[1]	$ 1,328	[1]	4,947
Payments					(4,397)
Ending balance	$ 550				$ 550
[1]	The above expenses were all incurred within the Corporate Items and Other segment. Employee-related costs and facility-related costs are reported in Compensation and benefits expense and Occupancy and equipment expense, respectively, in the unaudited consolidated statements of operations. Other costs are primarily reported in Professional services expense and Other expenses.

Securitizations and Variable _3

Securitizations and Variable Interest Entities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Average period to securitization			30 days
MSRs retained	$ 800	$ 2,100	$ 1,600	$ 4,500
Percentage of loan transferred through securitization 60 days or more past due			8.90%		8.30%
Pledged advance remittance period			2 days
Mortgage servicing rights, at fair value	1,312,633	$ 1,043,995	$ 1,312,633	$ 1,043,995	$ 1,457,149	$ 671,962
Advances	229,167		229,167		$ 249,382
Residential Mortgage Backed Securitization Trusts [Member]
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Mortgage servicing rights, at fair value	100		100
Investment in residual securities of trusts	1,600		1,600
Advances	$ 1,300		$ 1,300

Securitizations and Variable _4

Securitizations and Variable Interest Entities - Schedule of Cash Flows Related to Transfers Accounted for as Sales (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Transfers and Servicing [Abstract]
Proceeds received from securitizations	$ 195,973	$ 338,199	$ 438,933	$ 715,698
Servicing fees collected	12,826	10,077	28,744	20,425
Purchases of previously transferred assets, net of claims reimbursed	(143)	(659)	(1,047)	(2,829)
Cash flows received from and paid to securitization trusts	$ 208,656	$ 347,617	$ 466,630	$ 733,294

Securitizations and Variable _5

Securitizations and Variable Interest Entities - Schedule of Assets That Relate to Continuing Involvement with Transferred Financial Assets with Servicing Rights and Maximum Exposure to Loss Including the Unpaid Principal Balance (Details) - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
UPB of loans transferred	[1]	$ 14,543,353	$ 15,600,971
Maximum exposure to loss		14,769,731	15,872,424
Mortgage Servicing Rights - Fair Value [Member]
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Carrying value of assets		101,582	132,774
Advances And Match Funded Advances [Member]
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Carrying value of assets		$ 124,796	$ 138,679
[1]	Represents UPB of loans we transferred for which we continue to act as servicer or subservicer. Our estimate of maximum exposure to loss does not include loans that we do not service for which we have provided representations and warranties because we cannot estimate such amounts. Maximum exposure to loss does not consider any collateral liquidation proceeds.

Securitizations and Variable _6

Securitizations and Variable Interest Entities Schedule of Carrying Value of Assets and Liabilities of Consolidated Mortgage-backed Securitization Trusts (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Loans held for investment, at fair value	$ 5,897,731	$ 5,498,719
Other financing liabilities	931,451	1,127,613
Residential Mortgage Backed Securitization Trusts [Member]
Qualitative and Quantitative Information, Transferor's Continuing Involvement [Line Items]
Loans held for investment, at fair value	25,324	26,520
Other financing liabilities	$ 23,697	$ 24,815

Fair Value - Schedule of Fair V

Fair Value - Schedule of Fair Value Assets and Liabilities (Details) - USD ($)		Jun. 30, 2019		Dec. 31, 2018	Jun. 30, 2018		Dec. 31, 2017
Loans held for sale
Loans held for sale, at fair value		$ 135,691,000	[1]	$ 176,525,000	$ 153,906,000	[1]	$ 214,262,000
Financial liabilities:
Match funded liabilities		671,796,000		778,284,000
HMBS-related borrowings	[2]	5,745,383,000		5,380,448,000
Financing liabilities:
Other financing liabilities		931,451,000		1,127,613,000
Total Financing liabilities		6,676,834,000		6,508,061,000
Other secured borrowings:
Total Other secured borrowings		516,481,000		382,538,000
Senior Notes [Abstract]
Senior notes, net		447,577,000		448,727,000
Mortgage servicing rights
Mortgage servicing rights, at fair value		1,312,633,000		1,457,149,000	$ 1,043,995,000		$ 671,962,000
Carrying Value [Member]
Loans held for sale
Total Loans held for sale		196,071,000		242,622,000
Loans held for investment		5,897,731,000		5,498,719,000
Financing liabilities:
Total Financing liabilities		6,676,834,000		6,508,061,000
Other secured borrowings:
Total Other secured borrowings		516,481,000		382,538,000
Senior Notes [Abstract]
Senior notes, net		447,577,000		448,727,000
Fair Value [Member]
Loans held for sale
Total Loans held for sale		196,071,000		242,622,000
Loans held for investment		5,897,731,000		5,498,719,000
Financing liabilities:
Total Financing liabilities		6,659,463,000		6,491,689,000
Other secured borrowings:
Total Other secured borrowings		521,079,000		383,162,000
Senior Notes [Abstract]
Senior notes, net		389,823,000		426,147,000
Level 2 [Member] | Carrying Value [Member]
Loans held for sale
Loans held for sale, at fair value	[3]	135,691,000		176,525,000
Corporate bonds	[3]	450,000		450,000
Other secured borrowings:
Senior secured term loan	[4],[5]	333,552,000		226,825,000
Senior Notes [Abstract]
Senior unsecured notes	[4],[5]	118,524,000		119,924,000
Senior secured notes	[4],[5]	329,053,000		328,803,000
Derivative financial instruments assets (liabilities):
Interest rate lock commitments	[3]	4,105,000		3,871,000
Level 2 [Member] | Fair Value [Member]
Loans held for sale
Loans held for sale, at fair value	[3]	135,691,000		176,525,000
Corporate bonds	[3]	450,000		450,000
Other secured borrowings:
Senior secured term loan	[4],[5]	338,150,000		227,449,000
Senior Notes [Abstract]
Senior unsecured notes	[4],[5]	113,540,000		119,258,000
Senior secured notes	[4],[5]	276,283,000		306,889,000
Derivative financial instruments assets (liabilities):
Interest rate lock commitments	[3]	4,105,000		3,871,000
Level 3 [Member] | Carrying Value [Member]
Loans held for sale
Loans held for sale, at lower of cost or fair value	[6]	60,380,000		66,097,000
Loans held for investment	[3]	5,872,407,000		5,472,199,000
Advances (including match funded)	[4]	1,104,499,000		1,186,676,000
Receivables, net	[4]	187,985,000		198,262,000
Mortgage-backed securities, at fair value	[3]	2,014,000		1,502,000
Financial liabilities:
Match funded liabilities	[4]	671,796,000		778,284,000
HMBS-related borrowings	[3]	5,745,383,000		5,380,448,000
Other secured borrowings:
Other	[4]	182,929,000		155,713,000
Derivative financial instruments assets (liabilities):
Interest rate caps	[3]	47,000		678,000
Mortgage servicing rights
Mortgage servicing rights, at fair value	[3]	1,312,633,000		1,457,149,000
Level 3 [Member] | Fair Value [Member]
Loans held for sale
Loans held for sale, at lower of cost or fair value	[6]	60,380,000		66,097,000
Loans held for investment	[3]	5,872,407,000		5,472,199,000
Advances (including match funded)	[4]	1,104,499,000		1,186,676,000
Receivables, net	[4]	187,985,000		198,262,000
Mortgage-backed securities, at fair value	[3]	2,014,000		1,502,000
Financial liabilities:
Match funded liabilities	[4]	673,168,000		776,485,000
HMBS-related borrowings	[3]	5,745,383,000		5,380,448,000
Other secured borrowings:
Other	[4]	182,929,000		155,713,000
Derivative financial instruments assets (liabilities):
Interest rate caps	[3]	47,000		678,000
Mortgage servicing rights
Mortgage servicing rights, at fair value	[3]	1,312,633,000		1,457,149,000
Level 1 [Member] | Carrying Value [Member]
Loans held for sale
U.S. Treasury notes	[3]	1,073,000		1,064,000
Derivative financial instruments assets (liabilities):
Forward mortgage-backed securities	[3]	(3,863,000)		(4,983,000)
Level 1 [Member] | Fair Value [Member]
Loans held for sale
U.S. Treasury notes	[3]	1,073,000		1,064,000
Derivative financial instruments assets (liabilities):
Forward mortgage-backed securities	[3]	(3,863,000)		(4,983,000)
Loans Held for Investment Securitization Trusts [Member] | Level 3 [Member] | Carrying Value [Member]
Loans held for sale
Loans held for investment	[3]	25,324,000		26,520,000
Loans Held for Investment Securitization Trusts [Member] | Level 3 [Member] | Fair Value [Member]
Loans held for sale
Loans held for investment	[3]	25,324,000		26,520,000
Financing Liability - MSRs Pledged [Member]
Financing liabilities:
Other financing liabilities		844,913,000		1,032,856,000
Financing Liability - MSRs Pledged [Member] | Level 3 [Member] | Carrying Value [Member]
Financing liabilities:
Other financing liabilities	[3]	844,913,000		1,032,856,000
Financing Liability - MSRs Pledged [Member] | Level 3 [Member] | Fair Value [Member]
Financing liabilities:
Other financing liabilities	[3]	844,913,000		1,032,856,000
Financing Liability Owed to Securitization Investors [Member] | Level 3 [Member] | Carrying Value [Member]
Financing liabilities:
Other financing liabilities	[3]	23,697,000		24,815,000
Financing Liability Owed to Securitization Investors [Member] | Level 3 [Member] | Fair Value [Member]
Financing liabilities:
Other financing liabilities	[3]	23,697,000		24,815,000
Other Financing Liabilities [Member] | Level 3 [Member] | Carrying Value [Member]
Financing liabilities:
Other financing liabilities	[4]	62,841,000		69,942,000
Other Financing Liabilities [Member] | Level 3 [Member] | Fair Value [Member]
Financing liabilities:
Other financing liabilities	[4]	$ 45,470,000		$ 53,570,000
[1]	At June 30, 2019 and 2018, the balances include fair value adjustments of $(7.5) million and $(5.9) million, respectively.
[2]	Represents amounts due to the holders of beneficial interests in Ginnie Mae guaranteed HMBS. The beneficial interests have no maturity dates, and the borrowings mature as the related loans are repaid.
[3]	Measured at fair value on a recurring basis.
[4]	Disclosed, but not measured, at fair value.
[5]	The carrying values are net of unamortized debt issuance costs and discount. See Note 13 – Borrowings for additional information.
[6]	Measured at fair value on a non-recurring basis.

Fair Value - Schedule of Reconc

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, 2019		Jun. 30, 2018	Jun. 30, 2019		Jun. 30, 2018
Loans Held for Investment - Reverse Mortgages [Member]
Total realized and unrealized gains and (losses):
Change in fair value		$ 2,700			$ 5,600
Level 3 [Member] | Loans Held for Investment - Reverse Mortgages [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		5,726,917		$ 4,988,151	5,472,199		$ 4,715,831
Purchases, issuances, sales and settlements
Purchases		0		0	0		0
Issuances		217,757		236,386	427,021		487,472
Sales		0		0	0		0
Settlements		(127,884)		(103,497)	(232,514)		(186,216)
Transfers to loans held for sale, at fair value		(488)		(257)	(884)		(441)
Transfers to other assets		(36)		(33)	(155)		(137)
Transfers to receivables, net		(45)		(22)	(113)		(72)
Purchases, issuances, sales and settlements, total		89,304		132,577	193,355		300,606
Total realized and unrealized gains and (losses):
Change in fair value		56,186	[1]	23,030	206,853	[1]	127,321
Calls and other		0		0			0
Total realized and unrealized gains (losses) included in earnings		56,186		23,030	206,853		127,321
Transfers in and / or out of Level 3		0		0	0		0
Ending balance		5,872,407		5,143,758	5,872,407		5,143,758
Level 3 [Member] | HMBS - Related Borrowings [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		(5,614,688)		(4,838,193)	(5,380,448)		(4,601,556)
Purchases, issuances, sales and settlements
Purchases		0		0	0		0
Issuances		(214,543)		(276,751)	(425,106)		(499,576)
Sales		0		0	0		0
Settlements		125,626		100,737	228,015		181,548
Transfers to other assets							0
Purchases, issuances, sales and settlements, total		(88,917)		(176,014)	(197,091)		(318,028)
Total realized and unrealized gains and (losses):
Change in fair value		(41,778)	[1]	(26,776)	(167,844)	[1]	(121,399)
Calls and other		0		0			0
Total realized and unrealized gains (losses) included in earnings		(41,778)		(26,776)	(167,844)		(121,399)
Transfers in and / or out of Level 3		0		0	0		0
Ending balance		(5,745,383)		(5,040,983)	(5,745,383)		(5,040,983)
Level 3 [Member] | Loans Held for Inv. - Restricted for Securitization Investors [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		26,237			26,520
Purchases, issuances, sales and settlements
Settlements		(913)			(1,196)
Purchases, issuances, sales and settlements, total		(913)			(1,196)
Total realized and unrealized gains and (losses):
Change in fair value	[1]	0			0
Total realized and unrealized gains (losses) included in earnings		0			0
Ending balance		25,324			25,324
Level 3 [Member] | Financing Liability Owed to Securitization Investors [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		(24,562)			(24,815)
Purchases, issuances, sales and settlements
Settlements		865			1,118
Purchases, issuances, sales and settlements, total		865			1,118
Total realized and unrealized gains and (losses):
Change in fair value	[1]	0			0
Total realized and unrealized gains (losses) included in earnings		0			0
Ending balance		(23,697)			(23,697)
Level 3 [Member] | Mortgage-Backed Securities [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		1,786		1,679	1,502		1,592
Purchases, issuances, sales and settlements
Purchases		0		0	0		0
Issuances		0		0	0		0
Sales		0		0	0		0
Settlements		0		0	0		0
Transfers to other assets							0
Purchases, issuances, sales and settlements, total		0		0	0		0
Total realized and unrealized gains and (losses):
Change in fair value		228	[1]	53	512	[1]	140
Calls and other		0		0			0
Total realized and unrealized gains (losses) included in earnings		228		53	512		140
Transfers in and / or out of Level 3		0		0	0		0
Ending balance		2,014		1,732	2,014		1,732
Level 3 [Member] | Financing Liability - MSRs Pledged [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		(951,216)		(715,924)	(1,032,856)		(508,291)
Purchases, issuances, sales and settlements
Purchases		0		0	(876)		0
Issuances		(299)		0	0		(279,586)
Sales		0		0	0		0
Settlements		53,288		49,962	103,417		104,509
Transfers to other assets							0
Purchases, issuances, sales and settlements, total		52,989		49,962	102,541		(175,077)
Total realized and unrealized gains and (losses):
Change in fair value		50,745	[1]	(8,069)	76,982	[1]	8,642
Calls and other		2,569		1,412	8,420		2,107
Total realized and unrealized gains (losses) included in earnings		53,314		(6,657)	85,402		10,749
Transfers in and / or out of Level 3		0		0	0		0
Ending balance		(844,913)		(672,619)	(844,913)		(672,619)
Level 3 [Member] | Derivatives [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		276		1,866	678		2,056
Purchases, issuances, sales and settlements
Purchases		0		95	0		95
Issuances		0		0	0		0
Sales		0		0	0		0
Settlements		0		0	0		(371)
Transfers to other assets							0
Purchases, issuances, sales and settlements, total		0		95	0		(276)
Total realized and unrealized gains and (losses):
Change in fair value		(229)	[1]	(304)	(631)	[1]	(123)
Calls and other		0		0			0
Total realized and unrealized gains (losses) included in earnings		(229)		(304)	(631)		(123)
Transfers in and / or out of Level 3		0		0	0		0
Ending balance		47		1,657	47		1,657
Level 3 [Member] | MSRs [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance		1,400,191		1,074,247	1,457,149		671,962
Purchases, issuances, sales and settlements
Purchases		61,080		3,507	117,000		5,885
Issuances		0		(617)	0		(2,375)
Sales		(3)		(24)	(570)		(155)
Settlements		(1,367)		0	(4,680)		0
Transfers from MSRs carried at amortized cost, net of valuation allowance							418,925
Transfers to other assets							0
Purchases, issuances, sales and settlements, total		59,710		2,866	111,750		422,280
Total realized and unrealized gains and (losses):
Change in fair value		(147,268)	[1]	(33,118)	(256,266)	[1]	(50,247)
Calls and other		0		0			0
Total realized and unrealized gains (losses) included in earnings		(147,268)		(33,118)	(256,266)		(50,247)
Transfers in and / or out of Level 3		0		0	0		0
Ending balance		$ 1,312,633		$ 1,043,995	$ 1,312,633		$ 1,043,995
[1]	The Change in fair value adjustments on Loans held for investment for the three and six months ended June 30, 2019 include $2.7 million and $5.6 million, respectively, in connection with the fair value election for future draw commitments on HECM reverse mortgage loans purchased or originated after December 31, 2018.

Fair Value - Schedule of Reco_2

Fair Value - Schedule of Reconciliation of Changes in Fair Value of Level 3 Assets and Liabilities (Footnote) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Loans Held for Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value adjustments on loans held for investment	$ 2.7	$ 5.6

Fair Value - Schedule of Signif

Fair Value - Schedule of Significant Assumptions used in Valuation (Details) - $ / loan	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Loans Held for Investment [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Life	6 years 2 months 12 days	5 years 10 months 24 days
Fair value measurement valuation assumptions	2.80%	3.40%
Loans Held for Investment [Member] | Measurement Input, Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	13.90%	14.70%
Loans Held for Investment [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Life	2 years 10 months 24 days	3 years
Loans Held for Investment [Member] | Minimum [Member] | Measurement Input, Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	6.90%	6.80%
Loans Held for Investment [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Life	7 years 9 months 18 days	7 years 7 months 6 days
Loans Held for Investment [Member] | Maximum [Member] | Measurement Input, Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	32.40%	38.40%
Fair Value Agency Mortgage Servicing Rights [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Advance financing cost	5 years	5 years
Interest rate for computing float earnings	5 years	5 years
Weighted average cost to service (in dollars)	86	90
Fair Value Agency Mortgage Servicing Rights [Member] | Measurement Input, Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	11.70%	8.50%
Fair Value Agency Mortgage Servicing Rights [Member] | Measurement Input, Default Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	6.90%	6.60%
Fair Value Agency Mortgage Servicing Rights [Member] | Measurement Input, Discount Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	9.30%	9.10%
Fair Value Non-Agency Mortgage Servicing Rights [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value inputs financing costs float earnings, basis spread	0.50%	0.50%
Fair value input, interest rate	2.75%	2.75%
Weighted average cost to service (in dollars)	295	297
Fair Value Non-Agency Mortgage Servicing Rights [Member] | Measurement Input, Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	15.50%	15.40%
Fair Value Non-Agency Mortgage Servicing Rights [Member] | Measurement Input, Default Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	27.20%	27.10%
Fair Value Non-Agency Mortgage Servicing Rights [Member] | Measurement Input, Discount Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	12.60%	12.80%
HMBS - Related Borrowings [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Life	6 years 2 months 12 days	5 years 10 months 24 days
HMBS - Related Borrowings [Member] | Measurement Input, Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	13.90%	14.70%
HMBS - Related Borrowings [Member] | Measurement Input, Discount Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	2.80%	3.30%
HMBS - Related Borrowings [Member] | Minimum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Life	2 years 10 months 24 days	3 years
HMBS - Related Borrowings [Member] | Minimum [Member] | Measurement Input, Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	6.90%	6.80%
HMBS - Related Borrowings [Member] | Maximum [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Life	7 years 9 months 18 days	7 years 7 months 6 days
HMBS - Related Borrowings [Member] | Maximum [Member] | Measurement Input, Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	32.40%	38.40%
Mortgage Servicing Rights Pledged [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value inputs financing costs float earnings, basis spread	0.50%	0.50%
Fair value input, interest rate	2.75%	2.75%
Weighted average cost to service (in dollars)	226	234
Mortgage Servicing Rights Pledged [Member] | Measurement Input, Prepayment Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	14.60%	13.90%
Mortgage Servicing Rights Pledged [Member] | Measurement Input, Default Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	19.70%	20.30%
Mortgage Servicing Rights Pledged [Member] | Measurement Input, Discount Rate [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Fair value measurement valuation assumptions	11.90%	12.00%
London Interbank Offered Rate (LIBOR) [Member] | Fair Value Non-Agency Mortgage Servicing Rights [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Interest rate for computing float earnings	5 years	5 years
London Interbank Offered Rate (LIBOR) [Member] | Mortgage Servicing Rights Pledged [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31)
Interest rate for computing float earnings	5 years	5 years

Fair Value - Schedule of Estima

Fair Value - Schedule of Estimated Change in Fair Value of MSRs (Details) $ in Thousands	Jun. 30, 2019USD ($)
Transfers and Servicing [Abstract]
Weighted average prepayment speeds, 10%	$ (130,889)
Weighted average prepayment speeds, 20%	(251,379)
Weighted average discount rate, 10%	(35,280)
Weighted average discount rate, 20%	$ (68,984)

Loans Held for Sale - Schedule

Loans Held for Sale - Schedule of Loans Held for Sale Fair Value (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018
Movement In Loans Held For Sale At Fair Value [Roll Forward]
Beginning balance		$ 176,525	$ 214,262
Originations and purchases		370,207	497,980
Proceeds from sales		(405,999)	(559,042)
Principal collections		(11,046)	(7,315)
Loans held for investment, at fair value		884	(1,628)
Loans held for sale - Lower of cost or fair value		(2,866)	0
Receivables, net		(746)	0
REO (Other assets)		(866)	0
Gain on sale of loans		18,148	21,030
Decrease in fair value of loans		(292)	(10,872)
Other		(8,258)	(509)
Ending balance	[1]	$ 135,691	$ 153,906
[1]	At June 30, 2019 and 2018, the balances include fair value adjustments of $(7.5) million and $(5.9) million, respectively.

Loans Held for Sale - Schedul_2

Loans Held for Sale - Schedule of Loans Held for Sale Fair Value (Footnote) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Receivables [Abstract]
Increase (decrease) in fair value of loans held for sale	$ (7.5)	$ (5.9)

Loans Held for Sale - Schedul_3

Loans Held for Sale - Schedule of Loans Held for Sale at Lower Cost or Fair Value, Activity (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018
Movement In Loans Held For Sale At Fair Value [Roll Forward]
Beginning balance		$ 66,097	$ 24,096
Purchases		131,489	340,601
Proceeds from sales		(92,478)	(227,041)
Principal collections		(4,183)	(7,584)
Receivables, net		(53,657)	(78,514)
REO (Other assets)		(2,287)	(1,358)
Loans held for sale - Fair value		2,866	0
Gain on sale of loans		1,815	957
Decrease (increase) in valuation allowance		1,512	(217)
Other		9,206	4,607
Ending balance	[1]	$ 60,380	$ 55,547
[1]	At June 30, 2019 and 2018, the balances include $34.9 million and $48.6 million, respectively, of loans that we repurchased from Ginnie Mae guaranteed securitizations pursuant to Ginnie Mae servicing guidelines. We may repurchase loans that have been modified, to facilitate loss reduction strategies, or as otherwise obligated as a Ginnie Mae servicer. Repurchased loans may be modified or otherwise remediated through loss mitigation activities, may be sold to a third party, or are reclassified to receivables.

Loans Held for Sale - Schedul_4

Loans Held for Sale - Schedule of Loans Held for Sale at Lower Cost or Fair Value Activity (Footnote) (Details) - USD ($) $ in Millions	Jun. 30, 2019	Jun. 30, 2018
Ginnie Mae Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans repurchase obligation	$ 34.9	$ 48.6

Loans Held for Sale - Schedule

Loans Held for Sale - Schedule of Changes in Valuation Allowance (Details) - Valuation Allowance for Loans Held for Sale [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 10,863	$ 8,503	$ 11,569	$ 7,318
Provision	394	(572)	1,036	281
Transfer from Liability for indemnification obligations (Other liabilities)	7	278	74	997
Sales of loans	(1,207)	(674)	(2,622)	(1,083)
Other	0	0	0	22
Ending balance	$ 10,057	$ 7,535	$ 10,057	$ 7,535

Loans Held for Sale - Schedul_5

Loans Held for Sale - Schedule of Gains on Loans Held for Sale, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gain on sales of loans, net	$ 15,587	$ 32,375	$ 36,010	$ 52,428
Change in fair value of IRLCs	45	(1,265)	(296)	111
Change in fair value of loans held for sale	468	(6,222)	326	(10,146)
(Loss) gain on economic hedge instruments	(968)	(401)	(3,238)	1,998
Other	(57)	(94)	(132)	(198)
Gain on loans held for sale, net	15,075	24,393	32,670	44,193
MSRs Retained on Transfers of Forward Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gain on sales of loans, net	816	2,075	1,644	4,453
Fair Value Gains Related to Transfers of Reverse Mortgage Loans, Net [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gain on sales of loans, net	6,300	16,481	12,783	27,449
Gain on Sale of Repurchased Ginnie Mae Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gain on sales of loans, net	1,252	265	1,790	957
Gain on Sale of Forward Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gain on sales of loans, net	6,762	16,422	17,206	22,189
Other, Net [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gain on sales of loans, net	$ 457	$ (2,868)	$ 2,587	$ (2,620)

Advances - Schedule of Advances

Advances - Schedule of Advances Paid on Behalf of Borrowers or on Foreclosed Properties (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Advances On Behalf of Borrowers [Line Items]
Advances, gross	$ 256,820		$ 272,641
Allowance for losses	(27,653)	$ (23,135)	(23,259)	$ (16,485)	$ (16,980)	$ (16,465)
Advances, net	229,167		249,382
Principal and Interest [Member]
Advances On Behalf of Borrowers [Line Items]
Advances, gross	65,389		43,671
Taxes and Insurance [Member]
Advances On Behalf of Borrowers [Line Items]
Advances, gross	152,394		160,373
Foreclosures, Bankruptcy and Other [Member]
Advances On Behalf of Borrowers [Line Items]
Advances, gross	$ 39,037		$ 68,597

Advances - Schedule of Activity

Advances - Schedule of Activity in Advances (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Advances [Roll Forward]
Beginning balance	$ 249,382	$ 211,793
Asset acquisitions	688	0
Sales of advances	(707)	(877)
Collections of advances, charge-offs and other, net	(15,802)	(37,109)
Net increase in allowance for losses	(4,394)	(20)
Ending balance	$ 229,167	$ 173,787

Advances Schedule of Changes in

Advances Schedule of Changes in Allowance for Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Advances [Abstract]
Beginning balance	$ 23,135	$ 16,980	$ 23,259	$ 16,465
Provision	2,041	977	3,803	3,501
Net charge-offs and other	2,477	(1,472)	591	(3,481)
Ending balance	$ 27,653	$ 16,485	$ 27,653	$ 16,485

Match Funded Advances - Schedul

Match Funded Advances - Schedule of Match Funded Advances on Residential Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Match Funded Assets [Line Items]
Match funded advances	$ 875,332	$ 937,294
Principal and Interest [Member]
Match Funded Assets [Line Items]
Match funded advances	414,824	412,897
Taxes and Insurance [Member]
Match Funded Assets [Line Items]
Match funded advances	316,815	374,853
Foreclosures Bankruptcy And Other [Member]
Match Funded Assets [Line Items]
Match funded advances	$ 143,693	$ 149,544

Match Funded Advances - Sched_2

Match Funded Advances - Schedule of Activity in Match Funded Advances (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018
Match Funded Assets [Line Items]
Beginning balance		$ 937,294
Decrease in allowance for losses		(4,394)	$ (20)
Ending balance		875,332
Residential Mortgage [Member]
Match Funded Assets [Line Items]
Beginning balance		937,294	1,144,600
New advances (collections), net		(61,962)	(150,674)
Ending balance		$ 875,332	993,926
Automotive Dealer Financing Notes [Member]
Match Funded Assets [Line Items]
Beginning balance			32,757
Transfer to Other assets			(36,896)
New advances (collections), net			1,504
Decrease in allowance for losses	[1]		2,635
Ending balance			$ 0
[1]	The remaining allowance was charged off in connection with the exit from the automotive capital services business. In January 2018, we terminated the automotive dealer loan financing facility.

Mortgage Servicing - Schedule o

Mortgage Servicing - Schedule of Activity Related to MSRs - Amortization Method (Details) - Mortgage Servicing Rights - Amortized Costs [Member] - USD ($) $ in Thousands		6 Months Ended				12 Months Ended
		Jun. 30, 2019		Jun. 30, 2018		Dec. 31, 2017
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Beginning balance, MSRs		$ 0		$ 336,882
Fair value election - transfer of MSRs carried at fair value	[1]	0		(361,670)
Decrease in impairment valuation allowance		0	[1],[2]	24,788	[1],[2]	$ 24,800
Ending balance, MSRs		$ 0		$ 0		$ 336,882
[1]	Effective January 1, 2018, we elected fair value accounting for our MSRs previously accounted for using the amortization method, which included Agency MSRs and government-insured MSRs. This irrevocable election applies to all subsequently acquired or originated servicing assets and liabilities that have characteristics consistent with each of these classes. We recorded a cumulative-effect adjustment of $82.0 million to retained earnings as of January 1, 2018 to reflect the excess of the fair value of the Agency MSRs over their carrying amount. We also recognized the tax effect of this adjustment through an increase in retained earnings of $6.8 million and a deferred tax asset for the same amount. However, we established a full valuation allowance on the resulting deferred tax asset through a reduction in retained earnings. The government-insured MSRs were impaired by $24.8 million at December 31, 2017; therefore, these MSRs were already effectively carried at fair value.
[2]	Impairment valuation allowance balance of $24.8 million was reclassified to reduce the carrying value of the related MSRs on January 1, 2018 in connection with our fair value election.

Mortgage Servicing - Schedule_2

Mortgage Servicing - Schedule of Activity Related to MSRs - Amortization Method (Footnote) (Details) - USD ($) $ in Thousands	6 Months Ended				12 Months Ended
	Jun. 30, 2019		Jun. 30, 2018		Dec. 31, 2017
Servicing Asset at Amortized Cost [Line Items]
Cumulative effect of fair value election			$ 82,043
Tax effect of adjustment on retained earnings	$ 6,800
Mortgage Servicing Rights - Amortized Costs [Member]
Servicing Asset at Amortized Cost [Line Items]
Decrease in impairment valuation allowance	$ 0	[1],[2]	24,788	[1],[2]	$ 24,800
Retained Earnings [Member]
Servicing Asset at Amortized Cost [Line Items]
Cumulative effect of fair value election			82,043
Retained Earnings [Member] | Fair Value Agency Mortgage Servicing Rights [Member]
Servicing Asset at Amortized Cost [Line Items]
Cumulative effect of fair value election			$ 82,043
[1]	Effective January 1, 2018, we elected fair value accounting for our MSRs previously accounted for using the amortization method, which included Agency MSRs and government-insured MSRs. This irrevocable election applies to all subsequently acquired or originated servicing assets and liabilities that have characteristics consistent with each of these classes. We recorded a cumulative-effect adjustment of $82.0 million to retained earnings as of January 1, 2018 to reflect the excess of the fair value of the Agency MSRs over their carrying amount. We also recognized the tax effect of this adjustment through an increase in retained earnings of $6.8 million and a deferred tax asset for the same amount. However, we established a full valuation allowance on the resulting deferred tax asset through a reduction in retained earnings. The government-insured MSRs were impaired by $24.8 million at December 31, 2017; therefore, these MSRs were already effectively carried at fair value.
[2]	Impairment valuation allowance balance of $24.8 million was reclassified to reduce the carrying value of the related MSRs on January 1, 2018 in connection with our fair value election.

Mortgage Servicing - Schedule_3

Mortgage Servicing - Schedule of Activity Related to MSRs - Fair Value Measurement Method (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018
Servicing Asset at Fair Value, Amount [Roll Forward]
Beginning balance		$ 1,457,149	$ 671,962
Fair value election - transfer of MSRs carried at amortized cost, net of valuation allowance			336,882
Cumulative effect of fair value election			82,043
Sales and other transfers		(570)	(155)
Recognized on the sale of residential mortgage loans		2,698	5,885
Purchase of MSRs		114,389	0
Servicing transfers and adjustments		(4,767)	(2,375)
Changes in fair value:
Changes in valuation inputs or other assumptions	[1]	(159,093)	25,449
Realization of expected future cash flows and other changes	[1]	(97,173)	(75,696)
Ending balance		1,312,633	1,043,995
Fair Value Agency Mortgage Servicing Rights [Member]
Servicing Asset at Fair Value, Amount [Roll Forward]
Beginning balance		865,587	11,960
Fair value election - transfer of MSRs carried at amortized cost, net of valuation allowance			336,882
Sales and other transfers		(29)	0
Recognized on the sale of residential mortgage loans		2,698	5,885
Purchase of MSRs		114,302	0
Servicing transfers and adjustments		0	0
Changes in fair value:
Changes in valuation inputs or other assumptions	[1]	(171,676)	20,460
Realization of expected future cash flows and other changes	[1]	(65,147)	(29,633)
Ending balance		745,735	427,597
Fair Value Non-Agency Mortgage Servicing Rights [Member]
Servicing Asset at Fair Value, Amount [Roll Forward]
Beginning balance		591,562	660,002
Sales and other transfers		(541)	(155)
Recognized on the sale of residential mortgage loans		0	0
Purchase of MSRs		87	0
Servicing transfers and adjustments		(4,767)	(2,375)
Changes in fair value:
Changes in valuation inputs or other assumptions	[1]	12,583	4,989
Realization of expected future cash flows and other changes	[1]	(32,026)	(46,063)
Ending balance		$ 566,898	$ 616,398
[1]	Changes in fair value are recognized in MSR valuation adjustments, net in the unaudited consolidated statements of operations.

Mortgage Servicing - Schedule_4

Mortgage Servicing - Schedule of Composition of Servicing and Subservicing Portfolios by Type of Property Serviced (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Transfers and Servicing [Abstract]
Servicing	$ 80,141,128	$ 72,378,693	$ 70,796,834
Subservicing	27,432,019	53,104,560	1,600,289
NRZ	121,709,898	130,517,237	94,729,891
Assets serviced	$ 229,283,045	$ 256,000,490	$ 167,127,014

Mortgage Servicing - Schedule_5

Mortgage Servicing - Schedule of Components of Servicing and Subservicing Fees (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Transfers and Servicing [Abstract]
Servicing		$ 54,609	$ 55,783	$ 107,038	$ 114,779
Subservicing		4,203	871	10,410	1,786
NRZ		141,091	126,712	296,938	253,729
Servicing and Subservicing fees, total		199,903	183,366	414,386	370,294
Late charges		13,242	15,315	28,682	29,904
Custodial accounts (float earnings)		13,341	8,461	25,275	15,724
Loan collection fees		3,401	4,767	7,750	9,785
Home Affordable Modification Program (HAMP) fees	[1]	1,565	4,153	3,342	8,256
Other, net		7,730	6,165	15,610	10,402
Fees, total		$ 239,182	$ 222,227	$ 495,045	$ 444,365
[1]	The HAMP expired on December 31, 2016. Borrowers who had requested assistance or to whom an offer of assistance had been extended as of that date had until September 30, 2017 to finalize their modification. We continue to earn HAMP success fees for HAMP modifications that remain less than 90 days delinquent at the first-, second- and third-year anniversary of the start of the trial modification.

Mortgage Servicing - Narrative

Mortgage Servicing - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)loan	Jun. 30, 2018USD ($)
Transfers and Servicing [Abstract]
Portfolio of loans acquired | loan	45,307
UPB of loans acquired	$ 10,800
Portfolio of loans sold | loan	307
UPB of MSRs sold	$ 100.1
Float balances	$ 2,000	$ 1,700

Rights to MSRs - Schedule of As

Rights to MSRs - Schedule of Assets, Liabilities, Servicing and Subservicing Fees Related to NRZ Agreements (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018	Dec. 31, 2017
Servicing Liabilities at Fair Value [Line Items]
MSRs, at fair value		$ 1,312,633	$ 1,043,995	$ 1,312,633	$ 1,043,995	$ 1,457,149	$ 671,962
Due from NRZ		15,102		15,102		30,845
Other financing liabilities		931,451		931,451		1,127,613
Original Rights to MSRs Agreements [Member]
Servicing Liabilities at Fair Value [Line Items]
MSRs, at fair value		412,909	471,662	412,909	471,662	436,511	$ 499,042
PHH MSR Agreements [Member]
Servicing Liabilities at Fair Value [Line Items]
MSRs, at fair value		343,901		343,901		457,491
Changes in fair value		47,782	0	80,878	0
Runoff and settlement		15,814	0	33,588	0
Financing Liability - MSRs Pledged [Member]
Servicing Liabilities at Fair Value [Line Items]
Other financing liabilities		844,913		844,913		1,032,856
NRZ [Member]
Servicing Liabilities at Fair Value [Line Items]
MSRs, at fair value		756,810		756,810		894,002
Due from NRZ		40,677		40,677		54,602
Due to NRZ		46,956		46,956		53,001
Servicing fees collected on behalf of NRZ		141,091	126,712	296,938	253,729
Less: Subservicing fee retained by Ocwen		35,905	34,444	73,312	68,661
Net servicing fees remitted to NRZ		105,186	92,268	223,626	185,068
Changes in fair value		50,745	(8,069)	76,982	8,642
Runoff and settlement		53,288	49,962	103,417	104,509
Other		(1,777)	(1,115)	(3,658)	(2,622)
Interest expense		2,930	51,490	46,885	74,539
NRZ [Member] | Sale And Transfers Of Mortgage Servicing Rights [Member]
Servicing Liabilities at Fair Value [Line Items]
Due from NRZ	[1]	25,575		25,575		23,757
NRZ [Member] | Advance Funding, Subservicing Fees And Reimbursable Expenses [Member]
Servicing Liabilities at Fair Value [Line Items]
Due from NRZ		15,102		15,102		30,845
NRZ [Member] | Original Rights to MSRs Agreements [Member]
Servicing Liabilities at Fair Value [Line Items]
Other financing liabilities		412,909		412,909		436,511
Changes in fair value		(1,671)	(8,897)	(1,550)	(8,782)
Runoff and settlement		11,412	15,991	20,447	34,843
NRZ [Member] | 2017 Agreements and New RMSR Agreements [Member]
Servicing Liabilities at Fair Value [Line Items]
Other financing liabilities	[2]	88,103		88,103		138,854
Changes in fair value		4,634	828	(2,346)	17,424
Runoff and settlement		26,062	$ 33,971	49,382	$ 69,666
NRZ [Member] | PHH MSR Agreements [Member]
Servicing Liabilities at Fair Value [Line Items]
Other financing liabilities		$ 343,901		$ 343,901		$ 457,491
[1]	Balance represents the holdback of proceeds from PMC MSR sales and transfers to address indemnification claims and mortgage loan document deficiencies. These sales were executed by PMC prior to the acquisition date.
[2]	$104.9 million and $34.0 million is expected to be recognized as a reduction in the financing liability and interest expense for the years ended December 31, 2019 and 2020, respectively.

Rights to MSRs - Schedule of _2

Rights to MSRs - Schedule of Assets, Liabilities, Servicing and Subservicing Fees Related to NRZ Agreements (Footnote) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Forecast [Member]
Servicing Liabilities at Fair Value [Line Items]
Reduction in the financing liability and interest expense	$ 34	$ 104.9

Rights to MSRs - Schedule of Ac

Rights to MSRs - Schedule of Activity Related to Rights to Mortgage Servicing Rights (Details) - USD ($) $ in Thousands		1 Months Ended	6 Months Ended
		Jan. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Servicing Assets at Fair Value [Line Items]
Beginning balance		$ 671,962	$ 1,457,149	$ 671,962
Beginning balance, Financing Liability		508,291	1,032,856	508,291
Additions, MSRs			114,389	0
Additions, Financing Liability			876
Receipt of lump-sum cash payments		279,600		279,586
Changes in fair value, MSRs	[1]		159,093	(25,449)
Ending balance			1,312,633	1,043,995
Ending balance, Financing Liability			844,913	672,619
Original Rights to MSRs Agreements [Member]
Servicing Assets at Fair Value [Line Items]
Beginning balance		499,042	436,511	499,042
Changes in fair value, MSRs			1,550	8,782
Changes in fair value, Financing Liability			1,550	8,782
Runoff, settlements and other, MSRs			(20,447)	(34,843)
Runoff, settlements and other, Financing Liability			(20,447)	(34,843)
Calls, MSRs	[2]		(4,705)	(1,319)
Calls, Financing Liability	[2]		(4,705)	(1,319)
Ending balance			412,909	471,662
2017 Agreements and New RMSR Agreements [Member]
Servicing Assets at Fair Value [Line Items]
Beginning balance		$ 9,249	138,854	9,249
Receipt of lump-sum cash payments				279,586
Changes in fair value, MSRs			2,346	(17,424)
Changes in fair value, Financing Liability			2,346	(17,424)
Runoff, settlements and other, MSRs			(49,382)	(69,666)
Runoff, settlements and other, Financing Liability			(49,382)	(69,666)
Calls, MSRs	[2]		(3,715)	(788)
Calls, Financing Liability	[2]		(3,715)	(788)
Ending balance			88,103	$ 200,957
PHH MSR Agreements [Member]
Servicing Assets at Fair Value [Line Items]
Beginning balance			457,491
Additions, MSRs			876
Changes in fair value, MSRs			(80,878)
Changes in fair value, Financing Liability			(80,878)
Runoff, settlements and other, MSRs			(33,588)
Runoff, settlements and other, Financing Liability			(33,588)
Ending balance			$ 343,901
[1]	Changes in fair value are recognized in MSR valuation adjustments, net in the unaudited consolidated statements of operations.
[2]	Represents the carrying value of MSRs in connection with call rights exercised by NRZ, for MSRs transferred to NRZ under the 2017 Agreements and New RMSR Agreements, or by Ocwen at NRZ’s direction, for MSRs underlying the Original Rights to MSRs Agreements. Ocwen derecognizes the MSRs and the related financing liability upon collapse of the securitization.

Rights to MSRs - Narrative (Det

Rights to MSRs - Narrative (Details) $ in Thousands	Oct. 04, 2018USD ($)	Jan. 31, 2018USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)loan	Jun. 30, 2018USD ($)
Servicing Assets at Fair Value [Line Items]
Proceeds from sale of mortgage servicing rights accounted for as financing		$ 279,600	$ 54,600			$ 876	$ 279,586
Servicing fee revenues				$ 141,091	$ 126,712	296,938	$ 253,729
Unpaid principal balance on servicing assets acquired	$ 42,300,000			10,800,000		10,800,000
Unpaid principal balance on servicing assets and advances committed to sale				3,000,000		3,000,000
Percentage of mortgage loans servicing that can be terminated	25.00%
NRZ [Member]
Servicing Assets at Fair Value [Line Items]
UPB of rights to MSRs sold				19,800,000		$ 19,800,000
PHH Corporation [Member]
Servicing Assets at Fair Value [Line Items]
Number of Loans Serviced under Subservicing Arrangement | loan						300,149
Servicing fee revenues				$ 7,000		$ 14,200

Receivables - Schedule of Recei

Receivables - Schedule of Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Receivables [Abstract]
Government-insured loan claims, net	$ 103,631	$ 105,258
Sales and transfers of MSRs	25,575	23,757
Advance funding, subservicing fees and reimbursable expenses	15,102	30,845
Reimbursable expenses	15,557	11,508
Due from custodial accounts	14,235	9,060
Other	5,292	7,754
Servicing receivable, total	179,392	188,182
Income taxes receivable	37,768	45,987
Other receivables	23,096	17,672
Other receivables, gross	240,256	251,841
Allowance for losses	(52,271)	(53,579)
Receivables, net	$ 187,985	$ 198,262

Receivables - Narrative (Detail

Receivables - Narrative (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Servicing [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for financing notes	$ 50.5	$ 52.5

Receivables - Schedule of Chang

Receivables - Schedule of Changes in allowance of Government-Insured Loan Claims (Details) - Government Insured Loans Claims [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning balance	$ 51,280	$ 57,593	$ 52,497	$ 53,340
Provision	4,561	8,658	11,806	19,034
Charge-offs and other, net	(5,330)	(13,096)	(13,792)	(19,219)
Ending balance	$ 50,511	$ 53,155	$ 50,511	$ 53,155

Other Assets - Schedule of Othe

Other Assets - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Other Assets [Abstract]
Contingent loan repurchase asset	$ 455,943	$ 302,581
Prepaid expenses	20,078	27,647
Prepaid representation, warranty and indemnification claims - Agency MSR sale	15,173	15,173
Deferred tax asset, net	6,304	5,289
REO	6,147	7,368
Derivatives, at fair value	4,223	4,552
Prepaid lender fees, net	4,162	6,589
Security deposits	2,296	2,278
Mortgage backed securities, at fair value	2,014	1,502
Interest-earning time deposits	401	1,338
Other	6,103	5,250
Other assets	$ 522,844	$ 379,567

Borrowings - Schedule of Match

Borrowings - Schedule of Match Funded Liabilities (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Available borrowing capacity		$ 23,500
Match funded liabilities (related to VIEs)		671,796	$ 778,284
Match Funded Liabilties [Member]
Debt Instrument [Line Items]
Available borrowing capacity	[1]	$ 148,204
Weighted average interest rate	[2]	3.49%	3.61%
Match funded liabilities (related to VIEs)		$ 671,796	$ 778,284
Total Ocwen Master Advance Receivables Trust (OMART) [Member]
Debt Instrument [Line Items]
Available borrowing capacity	[1]	$ 110,684
Weighted average interest rate	[2]	3.47%	3.56%
Match funded liabilities (related to VIEs)		$ 649,316	$ 751,559
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-VF5 [Member]
Debt Instrument [Line Items]
Available borrowing capacity	[1],[3]	$ 110,684
Weighted average interest rate	[2],[3]	3.96%	4.06%
Match funded liabilities (related to VIEs)	[3]	$ 114,316	$ 216,559
Maturity date	[3],[4]	Dec. 31, 2049
Amortization date	[3],[4]	Dec. 31, 2019
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2016-T2 [Member]
Debt Instrument [Line Items]
Available borrowing capacity	[1],[5]	$ 0
Weighted average interest rate	[2],[5]	2.99%	2.99%
Match funded liabilities (related to VIEs)	[5]	$ 235,000	$ 235,000
Maturity date	[4],[5]	Aug. 31, 2049
Amortization date	[4],[5]	Aug. 31, 2019
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes, Series 2018-T1 [Member]
Debt Instrument [Line Items]
Available borrowing capacity	[1],[5]	$ 0
Weighted average interest rate	[2],[5]	3.50%	3.50%
Match funded liabilities (related to VIEs)	[5]	$ 150,000	$ 150,000
Maturity date	[4],[5]	Aug. 31, 2049
Amortization date	[4],[5]	Aug. 31, 2019
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes, Series 2018-T2 [Member]
Debt Instrument [Line Items]
Available borrowing capacity	[1],[5]	$ 0
Weighted average interest rate	[2],[5]	3.81%	3.81%
Match funded liabilities (related to VIEs)	[5]	$ 150,000	$ 150,000
Maturity date	[4],[5]	Aug. 31, 2050
Amortization date	[4],[5]	Aug. 31, 2020
Total Ocwen Freddie Advance Funding Facility (OFAF) [Member] | Advance Receivables Backed Notes, Series 2015-VF1 [Member]
Debt Instrument [Line Items]
Available borrowing capacity	[1],[6]	$ 37,520
Weighted average interest rate	[2],[6]	4.12%	5.03%
Match funded liabilities (related to VIEs)	[6]	$ 22,480	$ 26,725
Maturity date	[4],[6]	Jun. 30, 2050
Amortization date	[4],[6]	Jun. 30, 2020
[1]	Borrowing capacity under the OMART and OFAF facilities is available to us provided that we have sufficient eligible collateral to pledge in accordance with their respective terms. At June 30, 2019, $23.5 million of the available borrowing capacity of our advance financing notes could be used based on the amount of eligible collateral that had been pledged.
[2]	1ML was 2.40% and 2.50% at June 30, 2019 and December 31, 2018, respectively.
[3]	The total borrowing capacity of the Series 2015-VF5 variable notes is $225.0 million, with interest computed based on the lender’s cost of funds plus a margin of 105 to 250 bps.
[4]	The amortization date of our facilities is the date on which the revolving period ends under each advance facility note and repayment of the outstanding balance must begin if the note is not renewed or extended. The maturity date is the date on which all outstanding balances must be repaid. In all of our advance facilities, there are multiple notes outstanding. For each note, after the amortization date, all collections that represent the repayment of advances pledged to the facility must be applied ratably to each outstanding amortizing note to reduce the balance and as such the collection of advances allocated to the amortizing note may not be used to fund new advances.
[5]	Under the terms of the agreement, we must continue to borrow the full amount of the Series 2016-T2, 2018-T1 and 2018-T2 fixed-rate term notes until the amortization date. If there is insufficient eligible collateral to support the level of borrowing, the excess cash proceeds in an amount necessary to make up the deficit are not distributed to Ocwen but are held by the trustee, and interest expense continues to be based on the full amount of the outstanding notes. The Series 2016-T2, 2018-T1 and 2018-T2 term notes have a total combined borrowing capacity of $535.0 million. Rates on the individual classes of notes range from 2.72% to 4.53%.
[6]	On June 6, 2019, we renewed this facility through June 5, 2020 and borrowing capacity was reduced from $65.0 million to $60.0 million with interest computed based on the lender’s cost of funds plus a margin of 100 to 330 bps based on the various classes of notes.

Borrowings - Schedule of Matc_2

Borrowings - Schedule of Match Funded Liabilities (Footnote) (Details) - USD ($)		6 Months Ended	12 Months Ended
		Jun. 30, 2019	Dec. 31, 2018	May 31, 2019
Debt Instrument [Line Items]
Available borrowing capacity that could be used based on amount of eligible collateral pledged		$ 23,500,000
Match funded liabilities		671,796,000	$ 778,284,000
Advance Receivables Backed Notes - Series 2015-VF5 [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 225,000,000
Advance Receivables Backed Notes - Series 2015-VF5 [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		1.05%
Advance Receivables Backed Notes - Series 2015-VF5 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		2.50%
Series 2016 and 2018 Term Notes [Member]
Debt Instrument [Line Items]
Total borrowing capacity		$ 535,000,000
Series 2016 and 2018 Term Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		2.7215%
Series 2016 and 2018 Term Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		4.5319%
Advance Receivables Backed Notes, Series 2015-VF1 [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 60,000,000		$ 65,000,000
Advance Receivables Backed Notes, Series 2015-VF1 [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		1.00%
Advance Receivables Backed Notes, Series 2015-VF1 [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		3.30%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.40%	2.50%
Total Ocwen Master Advance Receivables Trust (OMART) [Member]
Debt Instrument [Line Items]
Available borrowing capacity that could be used based on amount of eligible collateral pledged	[1]	$ 110,684,000
Debt instrument, interest rate	[2]	3.47%	3.56%
Match funded liabilities		$ 649,316,000	$ 751,559,000
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes - Series 2015-VF5 [Member]
Debt Instrument [Line Items]
Available borrowing capacity that could be used based on amount of eligible collateral pledged	[1],[3]	$ 110,684,000
Debt instrument, interest rate	[2],[3]	3.96%	4.06%
Match funded liabilities	[3]	$ 114,316,000	$ 216,559,000
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes, Series 2018-T1 [Member]
Debt Instrument [Line Items]
Available borrowing capacity that could be used based on amount of eligible collateral pledged	[1],[4]	$ 0
Debt instrument, interest rate	[2],[4]	3.50%	3.50%
Match funded liabilities	[4]	$ 150,000,000	$ 150,000,000
Total Ocwen Master Advance Receivables Trust (OMART) [Member] | Advance Receivables Backed Notes, Series 2018-T2 [Member]
Debt Instrument [Line Items]
Available borrowing capacity that could be used based on amount of eligible collateral pledged	[1],[4]	$ 0
Debt instrument, interest rate	[2],[4]	3.81%	3.81%
Match funded liabilities	[4]	$ 150,000,000	$ 150,000,000
[1]	Borrowing capacity under the OMART and OFAF facilities is available to us provided that we have sufficient eligible collateral to pledge in accordance with their respective terms. At June 30, 2019, $23.5 million of the available borrowing capacity of our advance financing notes could be used based on the amount of eligible collateral that had been pledged.
[2]	1ML was 2.40% and 2.50% at June 30, 2019 and December 31, 2018, respectively.
[3]	The total borrowing capacity of the Series 2015-VF5 variable notes is $225.0 million, with interest computed based on the lender’s cost of funds plus a margin of 105 to 250 bps.
[4]	Under the terms of the agreement, we must continue to borrow the full amount of the Series 2016-T2, 2018-T1 and 2018-T2 fixed-rate term notes until the amortization date. If there is insufficient eligible collateral to support the level of borrowing, the excess cash proceeds in an amount necessary to make up the deficit are not distributed to Ocwen but are held by the trustee, and interest expense continues to be based on the full amount of the outstanding notes. The Series 2016-T2, 2018-T1 and 2018-T2 term notes have a total combined borrowing capacity of $535.0 million. Rates on the individual classes of notes range from 2.72% to 4.53%.

Borrowings - Narrative (Details

Borrowings - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Debt Instrument [Line Items]
Covenant compliance, consolidated tangible net worth at period end	$ 275
NRZ [Member]
Debt Instrument [Line Items]
UPB of rights to MSRs sold	19,800
Outstanding servicing advances	$ 715.5
Senior Notes [Member] | 8.375% Senior Secured Notes Due In 2022 [Member]
Debt Instrument [Line Items]
Percentage of principal amount, repurchase price	101.00%
Minimum [Member] | Senior Notes [Member] | 8.375% Senior Secured Notes Due In 2022 [Member]
Debt Instrument [Line Items]
Redemption period, notice	30 days
Maximum [Member] | Senior Notes [Member] | 8.375% Senior Secured Notes Due In 2022 [Member]
Debt Instrument [Line Items]
Redemption period, notice	60 days
Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Percentage of loan to value	40.00%

Borrowings - Schedule of Financ

Borrowings - Schedule of Financing Liabilities (Details) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
HMBS-related borrowings	[1]	$ 5,745,383	$ 5,380,448
Other financing liabilities		931,451	1,127,613
Total Financing liabilities		6,676,834	6,508,061
Financing liability – MSRs pledged [Member]
Debt Instrument [Line Items]
Other financing liabilities		844,913	1,032,856
Financing liability – MSRs pledged [Member] | Original Rights to MSRs Agreements [Member]
Debt Instrument [Line Items]
Other financing liabilities	[2]	412,909	436,511
Financing liability – MSRs pledged [Member] | 2017 Agreements and New RMSR Agreements [Member]
Debt Instrument [Line Items]
Other financing liabilities	[3]	88,103	138,854
Financing liability – MSRs pledged [Member] | PHH MSR Agreements [Member]
Debt Instrument [Line Items]
Other financing liabilities	[4]	$ 343,901	457,491
Secured Notes, Ocwen Asset Servicing Income Series, Series 2014-1 [Member]
Debt Instrument [Line Items]
Maturity date	[5]	Feb. 28, 2028
Other financing liabilities	[5]	$ 62,841	65,523
IndyMac Mortgage Loan Trust (INDX 2004-AR11) [Member]
Debt Instrument [Line Items]
Other financing liabilities	[6]	10,629	11,012
Residential Asset Securitization Trust 2003-A11 (RAST 2003-A11) [Member]
Debt Instrument [Line Items]
Other financing liabilities	[6]	13,068	13,803
Financing Liability Owed to Securitization Investors [Member]
Debt Instrument [Line Items]
Other financing liabilities		23,697	24,815
Financing Liability – Advances Pledged [Member]
Debt Instrument [Line Items]
Other financing liabilities	[7]	$ 0	$ 4,419
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.40%	2.50%
London Interbank Offered Rate (LIBOR) [Member] | HMBS - Related Borrowings [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	[1]	2.60%
[1]	Represents amounts due to the holders of beneficial interests in Ginnie Mae guaranteed HMBS. The beneficial interests have no maturity dates, and the borrowings mature as the related loans are repaid.
[2]	This financing liability has no contractual maturity or repayment schedule. The balance of the liability is adjusted each reporting period to its fair value based on the present value of the estimated future cash flows underlying the related MSRs.
[3]	This financing liability arose in connection with lump sum payments received upon transfer of legal title of the MSRs related to the Rights to MSRs transactions to NRZ in September 2017. In connection with the execution of the New RMSR Agreements in January 2018, we received a lump sum payment of $279.6 million as compensation for foregoing certain payments under the Original Rights to MSRs Agreements. The balance of the liability is adjusted each reporting period to its fair value based on the present value of the estimated future cash flows. The expected maturity of the liability is April 30, 2020, the date through which we were scheduled to be the servicer on loans underlying the Rights to MSRs per the Original Rights to MSRs Agreements.
[4]	Represents a liability for sales of MSRs that are accounted for as a secured borrowing which we assumed in connection with the acquisition of PHH. Under this accounting treatment, the MSRs transferred to NRZ remain on the consolidated balance sheet and the proceeds from the sale are recognized as a secured liability. We elected to record the liability at fair value consistent with the related MSRs.
[5]	OASIS noteholders are entitled to receive a monthly payment equal to the sum of: (a) 21 basis points of the UPB of the reference pool of Freddie Mac mortgages; (b) any termination payment amounts; (c) any excess refinance amounts; and (d) the note redemption amounts, each as defined in the indenture supplement for the notes. Monthly amortization of the liability is estimated using the proportion of monthly projected service fees on the underlying MSRs as a percentage of lifetime projected fees, adjusted for the term of the notes.
[6]	Consists of securitization debt certificates due to third parties that represent beneficial interests in trusts that we include in our unaudited consolidated financial statements, as more fully described in Note 4 – Securitizations and Variable Interest Entities. The holders of these certificates have no recourse against the assets of Ocwen. The certificates in the INDX 2004-AR11 Trust pay interest based on variable rates which are generally based on weighted average net mortgage rates and which range between 3.70% and 4.29% at June 30, 2019. The certificates in the RAST 2003-A11 Trust pay interest based on fixed rates ranging between 4.25% and 5.75% and a variable rate based on 1ML plus 0.45%. The maturity of the certificates occurs upon maturity of the loans held by the trust. The remaining loans in the INDX 2004-AR11 Trust and RAST 2003-A11 Trust have maturity dates extending through November 2034 and October 2033, respectively.
[7]	Certain sales of advances did not qualify for sales accounting treatment and were accounted for as a financing. This financing liability has no contractual maturity. The effective interest rate is based on 1ML plus a margin of 450 bps.

Borrowings - Schedule of Fina_2

Borrowings - Schedule of Financing Liabilities (Footnote) (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended		12 Months Ended
	Jan. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Receipt of lump sum payment in connection with transfer of MSRs to NRZ	$ 279,600		$ 279,586
Secured Notes, Ocwen Asset Servicing Income Series, Series 2014-1 [Member]
Debt Instrument [Line Items]
Basis spread on UPB		0.21%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate		2.40%		2.50%
London Interbank Offered Rate (LIBOR) [Member] | Financing Liability Owed to Securitization Investors [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		0.45%
London Interbank Offered Rate (LIBOR) [Member] | Financing Liability – Advances Pledged [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		4.50%
Minimum [Member] | IndyMac Mortgage Loan Trust (INDX 2004-AR11) [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		3.70%
Minimum [Member] | Residential Asset Securitization Trust 2003-A11 (RAST 2003-A11) [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		4.25%
Maximum [Member] | IndyMac Mortgage Loan Trust (INDX 2004-AR11) [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		4.29%
Maximum [Member] | Residential Asset Securitization Trust 2003-A11 (RAST 2003-A11) [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate		5.75%

Borrowings - Schedule of Other

Borrowings - Schedule of Other Secured Borrowings (Details) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2019	Dec. 31, 2018
Line of Credit Facility [Line Items]
Available borrowing capacity		$ 23,500
Other secured borrowings		$ 6,676,834	$ 6,508,061
London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate		2.40%	2.50%
Senior Secured Notes [Member]
Line of Credit Facility [Line Items]
Available borrowing capacity	[1]	$ 165,425
Other secured borrowings		182,929	$ 155,713
Unamortized debt issuance costs - SSTL		(3,456)	(3,098)
Discount - SSTL		(1,776)	(1,577)
Long-term debt		$ 516,481	$ 382,538
Weighted average interest rate		5.22%	5.49%
Senior Secured Notes [Member] | Senior Secured Term Loan [Member]
Line of Credit Facility [Line Items]
Available borrowing capacity	[1],[2]	$ 0
Other secured borrowings	[2]	$ 338,784	$ 231,500
Maturity date	[2]	Dec. 31, 2020
Senior Secured Notes [Member] | Repurchase Agreements [Member]
Line of Credit Facility [Line Items]
Available borrowing capacity	[1],[3]	$ 0
Other secured borrowings	[3]	$ 109,807	74,693
Maturity date	[3]	Sep. 30, 2019
Senior Secured Notes [Member] | Participation Agreement [Member]
Line of Credit Facility [Line Items]
Available borrowing capacity	[1],[4]	$ 0
Other secured borrowings	[4]	$ 0	42,331
Maturity date	[4]	Jul. 31, 2019
Senior Secured Notes [Member] | Mortgage Loan Warehouse Agreement [Member]
Line of Credit Facility [Line Items]
Available borrowing capacity	[1],[5]	$ 0
Other secured borrowings	[5]	$ 9,630	8,009
Maturity date	[5]	Aug. 31, 2019
Senior Secured Notes [Member] | Master Repurchase Agreement [Member]
Line of Credit Facility [Line Items]
Available borrowing capacity	[1],[6]	$ 165,425
Other secured borrowings	[6]	$ 34,575	30,680
Maturity date	[6]	Dec. 31, 2019
Senior Secured Notes [Member] | Master Repurchase Agreement [Member]
Line of Credit Facility [Line Items]
Available borrowing capacity	[1],[7]	$ 0
Other secured borrowings	[7]	$ 439	0
Maturity date	[7]	Jan. 31, 2020
Interest rate at index floor rate	[7]	4.00%
Senior Secured Notes [Member] | Master Repurchase Agreement [Member]
Line of Credit Facility [Line Items]
Other secured borrowings	[8]	$ 0	0
Senior Secured Notes [Member] | Participation Agreement [Member]
Line of Credit Facility [Line Items]
Other secured borrowings	[9]	$ 28,478	0
Maturity date	[9]	Feb. 29, 2020
Senior Secured Notes [Member] | Total Servicing Lines Of Credit [Member]
Line of Credit Facility [Line Items]
Available borrowing capacity	[1]	$ 165,425
Other secured borrowings		$ 521,713	$ 387,213
Senior Secured Notes [Member] | London Interbank Offered Rate (LIBOR) [Member] | Master Repurchase Agreement [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	[8]	1.70%
Senior Secured Notes [Member] | Eurodollar [Member] | Senior Secured Term Loan [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	[2]	5.00%
Interest rate at index floor rate	[2]	1.00%
Senior Secured Notes [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Repurchase Agreements [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	[3]	1.95%
Senior Secured Notes [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Mortgage Loan Warehouse Agreement [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	[5]	2.75%
Senior Secured Notes [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Master Repurchase Agreement [Member]
Line of Credit Facility [Line Items]
Interest rate at index floor rate	[6]	2.25%
Senior Secured Notes [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Repurchase Agreements [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	[3]	3.00%
Senior Secured Notes [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Mortgage Loan Warehouse Agreement [Member]
Line of Credit Facility [Line Items]
Basis spread on variable rate	[5]	3.50%
Senior Secured Notes [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member] | Master Repurchase Agreement [Member]
Line of Credit Facility [Line Items]
Interest rate at index floor rate	[6]	2.75%
[1]	Available borrowing capacity for our mortgage loan warehouse facilities does not consider the amount of the facility that the lender has extended on an uncommitted basis. Of the borrowing capacity extended on a committed basis, none could be used at June 30, 2019 based on the amount of eligible collateral that could be pledged.
[2]	On March 18, 2019, we entered into a Joinder and Amendment Agreement (the Amendment) which amends the existing Amended and Restated SSTL Facility Agreement dated December 5, 2016 to provide an additional term loan of $120.0 million subject to the same maturity, interest rate and other material terms of existing borrowings under the SSTL. Effective with the Amendment, the quarterly principal payment has been increased from $4.2 million to $6.4 million beginning March 31, 2019. See information regarding collateral in the table below.Borrowings bear interest, at the election of Ocwen, at a rate per annum equal to either (a) the base rate (the greatest of (i) the prime rate in effect on such day, (ii) the federal funds rate in effect on such day plus 0.50% and (iii) 1ML, plus a margin of 4.00% and subject to a base rate floor of 2.00% or (b) 1ML, plus a margin of 5.00% and subject to a 1ML floor of 1.00%. To date, we have elected option (b) to determine the interest rate.
[3]	The maximum borrowing under this agreement is $175.0 million, of which $100.0 million is available on a committed basis and the remainder is available at the discretion of the lender.
[4]	Effective with the merger of Homeward into PMC in February 2019, an existing participation agreement with uncommitted borrowing capacity of $75.0 million was terminated. Effective with the merger of OLS into PMC in June 2019, the remaining participation agreement with uncommitted borrowing capacity of $175.0 million was also terminated.
[5]	Under this participation agreement, the lender provides financing for $100.0 million on an uncommitted basis. The participation agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing.
[6]	The maximum borrowing under this agreement is $250.0 million, of which $200.0 million is available on a committed basis and the remainder is available on an uncommitted basis. The agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing.
[7]	Under this agreement, the lender provides financing for up to $50.0 million on an uncommitted basis. On January 23, 2019, we renewed this facility through January 22, 2020.
[8]	This agreement was originally entered into by PHH and subsequently assumed by Ocwen in connection with its acquisition of PHH. The facility provides financing for up to $200.0 million at the discretion of the provider. The agreement has no stated maturity date.
[9]	We entered into a master participation agreement on February 4, 2019 under which the lender will provide $300.0 million of borrowing capacity to PMC on an uncommitted basis. The participation agreement allows the lender to acquire a 100% beneficial interest in the underlying mortgage loans. The transaction does not qualify for sale accounting treatment and is accounted for as a secured borrowing. The lender earns the stated interest rate of the underlying mortgage loans while the loans are financed under the participation agreement.

Borrowings - Schedule of Othe_2

Borrowings - Schedule of Other Secured Borrowings (Footnote) (Details) - USD ($)	Mar. 18, 2019	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Feb. 28, 2019	Feb. 04, 2019
Debt Instrument [Line Items]
Available borrowing capacity		$ 23,500,000	$ 23,500,000
Proceeds from additional borrowings on SSTL	$ 120,000,000
Amended Senior Secured Term Loan [Member]
Debt Instrument [Line Items]
Periodic prepayment of SSTL		6,400,000		$ 4,200,000
Repurchase Agreements [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		175,000,000	175,000,000
Borrowings available on committed basis		100,000,000	$ 100,000,000
Participation Agreement [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 300,000,000
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			2.40%	2.50%
Senior Secured Notes [Member] | Participation Agreement [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		175,000,000	$ 175,000,000		$ 75,000,000
Senior Secured Notes [Member] | Mortgage Loan Warehouse Agreement [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		100,000,000	$ 100,000,000
Beneficial interest			100.00%
Senior Secured Notes [Member] | Master Repurchase Agreement [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		250,000,000	$ 250,000,000
Beneficial interest			100.00%
Borrowings available on committed basis		200,000,000	$ 200,000,000
Senior Secured Notes [Member] | Master Repurchase Agreement [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		50,000,000	50,000,000
Senior Secured Notes [Member] | Master Repurchase Agreement [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		200,000,000	$ 200,000,000
Senior Secured Notes [Member] | Participation Agreement [Member]
Debt Instrument [Line Items]
Beneficial interest			100.00%
Senior Secured Notes [Member] | Senior Secured Term Loan Option One [Member] | Federal Funds Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%
Senior Secured Notes [Member] | Senior Secured Term Loan Option One [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			4.00%
Senior Secured Notes [Member] | Senior Secured Term Loan Option One [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			2.00%
Senior Secured Notes [Member] | Senior Secured Term Loan Option Two [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			5.00%
Senior Secured Notes [Member] | Senior Secured Term Loan Option Two [Member] | Eurodollar Floor [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
Mortgage Loan Warehouse Facility [Member]
Debt Instrument [Line Items]
Available borrowing capacity		$ 0	$ 0

Borrowings - Schedule of Senior

Borrowings - Schedule of Senior Notes (Details) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Senior notes		$ 447,577	$ 448,727
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior notes		119,064	119,064
Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes		449,942	449,942
Unamortized debt issuance costs		(1,825)	(2,075)
Fair value adjustments	[1]	(540)	860
Long-term debt		447,577	448,727
7.375% Senior Notes, Due 2019 [Member] | Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior notes	[1]	$ 97,521	97,521
Interest rate	[1]	7.375%
6.375% Senior Notes, Due 2021 [Member] | Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Senior notes	[1]	$ 21,543	21,543
Interest rate	[1]	6.375%
8.375% Senior Secured Notes Due In 2022 [Member] | Senior Secured Notes [Member]
Debt Instrument [Line Items]
Senior notes		$ 330,878	$ 330,878
Interest rate		8.375%
[1]	These notes were originally issued by PHH and subsequently assumed by Ocwen in connection with its acquisition of PHH. We recorded the notes at their respective fair values on the date of acquisition, and we are amortizing the resulting fair value purchase accounting adjustments over the remaining term of the notes. We have the option to redeem the notes due in August 2021, in whole or in part, on or after January 1, 2019 at a redemption price equal to 100.0% of the principal amount plus any accrued and unpaid interest.

Borrowings - Schedule of Seni_2

Borrowings - Schedule of Senior Notes (Footnote) (Details)	6 Months Ended
	Jun. 30, 2019
Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Redemption price	100.00%

Borrowings - Schedule of Redemp

Borrowings - Schedule of Redemption Prices (Details) - Senior Secured Notes [Member]	6 Months Ended
	Jun. 30, 2019
2018 [Member]
Debt Instrument [Line Items]
Redemption price	106.2812%
2019 [Member]
Debt Instrument [Line Items]
Redemption price	104.188%
2020 [Member]
Debt Instrument [Line Items]
Redemption price	102.094%
2021 and Thereafter [Member]
Debt Instrument [Line Items]
Redemption price	100.00%

Borrowings - Schedule of Assets

Borrowings - Schedule of Assets Held as Collateral Related to Secured Borrowings (Details) - USD ($) $ in Thousands		Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018
Debt Instrument [Line Items]
Cash		$ 287,724	$ 329,132	$ 228,412
Restricted cash		60,708	67,878
MSRs		1,312,633	1,457,149
Advances, net		229,167	249,382
Match funded advances		875,332	937,294
Loans held for sale		196,071	242,622
Loans held for investment, at fair value		5,897,731	5,498,719
Receivables, net		187,985	198,262
Premises and equipment, net		57,598	33,417
Other assets		522,844	379,567
Total assets		9,627,793	$ 9,394,216	$ 8,420,196
Match Funded Liabilties [Member]
Debt Instrument [Line Items]
Cash		0
Restricted cash		15,488
MSRs		0
Advances, net		0
Match funded advances		875,332
Loans held for sale		0
Loans held for investment, at fair value		0
Receivables, net		0
Premises and equipment, net		0
Other assets		0
Total assets		890,820
Financing Liabilities [Member]
Debt Instrument [Line Items]
Cash		0
Restricted cash		0
MSRs		824,442
Advances, net		0
Match funded advances		0
Loans held for sale		0
Loans held for investment, at fair value		5,818,251
Receivables, net		0
Premises and equipment, net		0
Other assets		0
Total assets		6,642,693
Mortgage Loan Warehouse Agreement [Member]
Debt Instrument [Line Items]
Cash		0
Restricted cash		4,100
MSRs		0
Advances, net		0
Match funded advances		0
Loans held for sale		151,878
Loans held for investment, at fair value		38,483
Receivables, net		35,903
Premises and equipment, net		0
Other assets		4,000
Total assets		234,364
Sale and Other Commitments [Member]
Debt Instrument [Line Items]
Cash	[1]	0
Restricted cash	[1]	41,120
MSRs	[1]	0
Advances, net	[1]	30,757
Match funded advances	[1]	0
Loans held for sale	[1]	0
Loans held for investment, at fair value	[1]	0
Receivables, net	[1]	0
Premises and equipment, net	[1]	0
Other assets	[1]	473,412
Total assets	[1]	545,289
Other Liabilities [Member]
Debt Instrument [Line Items]
Cash	[2]	287,724
Restricted cash	[2]	0
MSRs	[2]	488,191
Advances, net	[2]	198,410
Match funded advances	[2]	0
Loans held for sale	[2]	44,193
Loans held for investment, at fair value	[2]	40,997
Receivables, net	[2]	152,082
Premises and equipment, net	[2]	57,598
Other assets	[2]	45,432
Total assets	[2]	$ 1,314,627
[1]	Sales and Other Commitments include MSRs and related advances committed under sale agreements, Restricted cash and deposits held as collateral to support certain contractual obligations, and Contingent loan repurchase assets related to the Ginnie Mae EBO program for which a corresponding liability is recognized in Other liabilities.
[2]	The borrowings under the SSTL are secured by a first priority security interest in substantially all of the assets of Ocwen, PHH, PMC and the other guarantors thereunder, excluding among other things, 35% of the voting capital stock of foreign subsidiaries, securitization assets and equity interests of securitization entities, assets securing permitted funding indebtedness and non-recourse indebtedness, REO assets, Agency MSRs with respect to which an acknowledgment agreement acknowledging such security interest has not been obtained, as well as other customary carve-outs (collectively, the Collateral). The Collateral is subject to certain permitted liens set forth under the SSTL and related security agreement. The Senior Secured Notes are guaranteed by Ocwen and the other guarantors that guarantee the SSTL, and the borrowings under the Senior Secured Notes are secured by a second priority security interest in the Collateral. Security interests securing borrowings under the SSTL and Senior Secured Notes may include amounts presented in Other as well as certain assets presented in Collateral for Secured Borrowings and Sales and Other Commitments, subject to permitted liens as defined in the applicable debt documents. The amounts presented here may differ in their calculation and are not intended to represent amounts that may be used in connection with covenants under the applicable debt documents.

Other Liabilities - Schedule of

Other Liabilities - Schedule of Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Contingent loan repurchase liability	$ 455,943	$ 302,581
Other accrued expenses	76,851	99,739
Lease liability	55,489	0
Accrued legal fees and settlements	53,072	62,763
Due to NRZ - Advance collections and servicing fees	46,956	53,001
Servicing-related obligations	45,850	41,922
Liability for indemnification obligations	44,681	51,574
Checks held for escheat	35,232	20,686
Liability for uncertain tax positions	12,942	13,739
Liability for unfunded pension obligation	12,400	12,683
Accrued interest payable	9,045	7,209
Liability for mortgage insurance contingency	6,820	6,820
Derivatives, at fair value	3,934	4,986
Deferred revenue	3,210	4,441
Other	29,786	21,492
Total other liabilities	$ 892,211	$ 703,636

Other Liabilities - Schedule _2

Other Liabilities - Schedule of Changes in Liability for Legal Fees and Settlements (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Other Liabilities Disclosure [Abstract]
Beginning balance		$ 52,916	$ 46,305	$ 62,763	$ 51,057
Net accrual (reversal of accrual) for probable losses	[1]	(465)	2,330	(1,096)	9,782
Payments	[2]	(1,100)	(1,607)	(10,507)	(7,643)
Issuance of common stock in settlement of litigation	[3]	0	0	0	(5,719)
Net increase (decrease) in accrued legal fees		1,657	5,031	1,848	4,732
Other		64	2,236	64	2,086
Ending balance		$ 53,072	$ 54,295	$ 53,072	$ 54,295
[1]	Consists of amounts accrued for probable losses in connection with legal and regulatory settlements and judgments. Such amounts are reported in Professional services expense in the unaudited consolidated statements of operations.
[2]	Includes cash payments made in connection with resolved legal and regulatory matters.
[3]	In January 2018, Ocwen issued 1,875,000 shares of common stock in connection with a securities litigation settlement.

Other Liabilities - Schedule _3

Other Liabilities - Schedule of Changes in Liability for Legal Fees and Settlements (Footnote) (Details)	1 Months Ended
	Jan. 31, 2018shares
Other Liabilities Disclosure [Abstract]
Issuance of common stock in connection with approved securities litigation	1,875,000

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Summary of Derivatives (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Fair value of derivative assets (liabilities) at:
Derivatives, at fair value		$ 4,223		$ 4,552
Interest Rate Lock Commitments [Member]
Derivative Notional Balance
Notional balance at June 30, 2019		118,099
Fair value of derivative assets (liabilities) at:
Derivatives, at fair value	[1]	4,105		3,871
Gains (losses) on derivatives during the six months ended:
Gains (losses) on derivatives		(296)	$ 111
Forward MBS Trades [Member]
Derivative Notional Balance
Notional balance at June 30, 2019		126,762
Fair value of derivative assets (liabilities) at:
Derivatives, at fair value	[1]	(3,863)		(4,983)
Gains (losses) on derivatives during the six months ended:
Gains (losses) on derivatives		(3,238)	1,998
Interest Rate Caps [Member]
Derivative Notional Balance
Notional balance at June 30, 2019		122,083
Fair value of derivative assets (liabilities) at:
Derivatives, at fair value	[1]	47		$ 678
Gains (losses) on derivatives during the six months ended:
Gains (losses) on derivatives		$ (335)	$ (78)
[1]	Derivatives are reported at fair value in Other assets or in Other liabilities on our unaudited consolidated balance sheets.

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Foreign currency exchange gains (losses)	$ (0.1)	$ (1.9)	$ 0.1	$ (2.7)
Unrealized loss on derivatives arising during period, before tax			1	1.1
Other comprehensive income (loss), tax			$ 0.1	$ 0.1

Interest Expense - Schedule of

Interest Expense - Schedule of Components of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt securities:
Interest expense	$ 31,571	$ 77,503	$ 102,016	$ 128,313
Financing Liabilities [Member]
Debt securities:
Interest expense	3,752	52,839	48,777	77,083
Senior Notes [Member]
Debt securities:
Interest expense	8,502	7,452	17,014	14,903
Other Secured Borrowings [Member]
Debt securities:
Interest expense	9,245	8,044	17,123	16,232
Match Funded Liabilties [Member]
Debt securities:
Interest expense	7,045	7,714	14,697	17,262
Other [Member]
Debt securities:
Interest expense	3,027	1,454	4,405	2,833
NRZ [Member] | Financing Liabilities [Member]
Debt securities:
Interest expense	2,930	51,490	46,885	74,539
Other Financing Liabilities [Member] | Financing Liabilities [Member]
Debt securities:
Interest expense	$ 822	$ 1,349	$ 1,892	$ 2,544

Basic and Diluted Earnings (L_3

Basic and Diluted Earnings (Loss) per Share - Schedule of Reconciliation of Calculation of Basic Earnings per Share to Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Basic and Diluted loss per share
Net loss attributable to Ocwen stockholders		$ (89,737)	$ (29,831)	$ (134,231)	$ (27,283)
Weighted average shares of common stock - basic and diluted		134,465,741	133,856,132	134,193,874	133,490,828
Basic and Diluted loss per share		$ (0.67)	$ (0.22)	$ (1)	$ (0.20)
Stock options and common stock awards excluded from the computation of diluted earnings per share
Anti-dilutive Securities (in shares)	[1]	4,107,485	6,492,703	4,126,819	6,498,025
Market Based [Member]
Stock options and common stock awards excluded from the computation of diluted earnings per share
Anti-dilutive Securities (in shares)	[2]	854,181	645,984	854,181	645,984
[1]	Includes stock options that are anti-dilutive because their exercise price was greater than the average market price of Ocwen’s stock, and stock awards that are anti-dilutive based on the application of the treasury stock method.
[2]	Shares that are issuable upon the achievement of certain market-based performance criteria related to Ocwen’s stock price.

Business Segment Reporting - Sc

Business Segment Reporting - Schedule of Segment Reporting Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019		Jun. 30, 2018	Dec. 31, 2018
Results of Operations
Revenue		$ 274,338	$ 253,581	$ 578,226		$ 513,838
Expenses	[1]	331,494	205,650	611,599	[2]	412,151
Other income (expense):
Interest income		3,837	3,355	8,395		6,055
Interest expense		(31,571)	(77,503)	(102,016)		(128,313)
Bargain purchase gain		(96)	0	(381)		0
Other		653	(2,188)	1,958		(2,869)
Total other expense, net		(27,177)	(76,336)	(92,044)		(125,127)
Loss before income taxes		(84,333)	(28,405)	(125,417)		(23,440)
Total Assets
Balance		9,627,793	8,420,196	9,627,793		8,420,196	$ 9,394,216
Corporate Items and Other [Member]
Other income (expense):
Bargain purchase gain		(96)
Operating Segments [Member] | Servicing [Member]
Results of Operations
Revenue		242,510	230,509	501,784		456,605
Expenses	[1]	290,087	166,888	555,984	[2]	337,984
Other income (expense):
Interest income		1,872	1,466	4,165		1,894
Interest expense		(14,191)	(62,675)	(68,889)		(97,193)
Bargain purchase gain				0
Other		890	(326)	2,416		(754)
Total other expense, net		(11,429)	(61,535)	(62,308)		(96,053)
Loss before income taxes		(59,006)	2,086	(116,508)		22,568
Total Assets
Balance		3,195,218	2,851,910	3,195,218		2,851,910	3,306,208
Operating Segments [Member] | Lending [Member]
Results of Operations
Revenue		28,794	19,002	69,885		48,197
Expenses	[1]	21,026	17,785	42,357	[2]	38,081
Other income (expense):
Interest income		1,546	1,360	3,095		2,852
Interest expense		(1,399)	(1,472)	(3,067)		(3,417)
Bargain purchase gain				0
Other		444	294	663		620
Total other expense, net		591	182	691		55
Loss before income taxes		8,359	1,399	28,219		10,171
Total Assets
Balance		5,978,325	5,242,716	5,978,325		5,242,716	5,603,481
Operating Segments [Member] | Corporate Items and Other [Member]
Results of Operations
Revenue		3,034	4,070	6,557		9,036
Expenses	[1]	20,381	20,977	13,258	[2]	36,086
Other income (expense):
Interest income		419	529	1,135		1,309
Interest expense		(15,981)	(13,356)	(30,060)		(27,703)
Bargain purchase gain				(381)
Other		(681)	(2,156)	(1,121)		(2,735)
Total other expense, net		(16,339)	(14,983)	(30,427)		(29,129)
Loss before income taxes		(33,686)	(31,890)	(37,128)		(56,179)
Total Assets
Balance		454,250	325,570	454,250		325,570	484,527
Intersegment Eliminations [Member]
Results of Operations
Revenue		0	0	0		0
Expenses	[1]	0	0	0	[2]	0
Other income (expense):
Interest income		0	0	0		0
Interest expense		0	0	0		0
Bargain purchase gain				0
Other		0	0	0		0
Total other expense, net		0	0	0		0
Loss before income taxes		0	0	0		0
Total Assets
Balance		$ 0	$ 0	$ 0		$ 0	$ 0
[1]	Compensation and benefits expense in the Corporate Items and Other segment for the three and six months ended June 30, 2019 and 2018 includes $0.8 million and $19.2 million, and $1.6 million, and $7.3 million, respectively, of severance expense attributable to PHH integration-related headcount reductions of primarily U.S.-based employees in 2019 and headcount reductions in connection with our strategic decisions to exit the automotive capital services business and the forward lending correspondent and wholesale channels in late 2017 and early 2018, as well as our overall efforts to reduce costs.
[2]	Included in the Corporate Items and Other segment for the six months ended June 30, 2019, we recorded in Professional services expense a recovery from a service provider of $30.7 million during the first quarter of 2019 of amounts previously recognized as expense.

Business Segment Reporting - _2

Business Segment Reporting - Schedule of Segment Reporting Information (Footnote) (Details) - Corporate and Other [Member] - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Severance expense	$ 0.8		$ 1.6	$ 19.2	$ 7.3
Recovery of professional services expense		$ 30.7

Business Segment Reporting - _3

Business Segment Reporting - Schedule of Depreciation and Amortization by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Depreciation expense	$ 11,012	$ 6,115	$ 19,563	$ 12,640
Amortization of debt discount	350	442	701	706
Amortization of debt issuance costs	751	1,005	1,451	1,662
Servicing [Member]
Segment Reporting Information [Line Items]
Depreciation expense	761	1,256	1,569	2,613
Amortization of debt discount	0	0	0	0
Amortization of debt issuance costs	0	0	0	0
Lending [Member]
Segment Reporting Information [Line Items]
Depreciation expense	46	25	81	54
Amortization of debt discount	0	0	0	0
Amortization of debt issuance costs	0	0	0	0
Corporate Items and Other [Member]
Segment Reporting Information [Line Items]
Depreciation expense	10,205	4,834	17,913	9,973
Amortization of debt discount	350	442	701	706
Amortization of debt issuance costs	$ 751	$ 1,005	$ 1,451	$ 1,662

Regulatory Requirements - Narra

Regulatory Requirements - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)
Brokers and Dealers [Abstract]
Number of days from fiscal year end that servicer is obliged to provide audited financial statements	90 days
Net worth requirement	$ 214.6
Outstanding amount of debt forgiveness for borrowers	$ 198

Commitments - Narrative (Detail

Commitments - Narrative (Details) $ in Millions	Jun. 30, 2019USD ($)
Floating Rate Reverse Mortgage Loans [Member]
Other Commitments [Line Items]
Additional borrowing capacity to borrowers	$ 1,500
Forward Mortgage Loan Interest Rate Lock Commitments [Member]
Other Commitments [Line Items]
Short-term commitments to lend	95.8
Reverse Mortgage Loan Interest Rate Lock Commitments [Member]
Other Commitments [Line Items]
Short-term commitments to lend	$ 22.3

Commitments - Schedule of Activ

Commitments - Schedule of Activity Related to HMBS Repurchases (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)loanSecurities
Long-term Purchase Commitment [Line Items]
Beginning balance, repurchase securities, number | Securities	262
Additions, repurchase securities, number | Securities	121	[1]
Recoveries, net, repurchase securities, number | Securities	(122)	[2]
Transfers, repurchase securities, number | Securities	0
Change in value, repurchase securities, number | Securities	0
Ending balance, repurchase securities, number | Securities	261
Beginning balance, repurchase securities, value	$ 16,880
Additions, repurchase securities, value	15,687	[1]
Recoveries, repurchase securities, value	(9,505)	[2]
Transfers, repurchase securities, value	0
Change in value, repurchase securities, value	(939)
Ending balance, repurchase securities, value	$ 22,123
Active [Member]
Long-term Purchase Commitment [Line Items]
Beginning balance, repurchase securities, number | loan	10
Additions, repurchase securities, number | loan	21	[1]
Recoveries, net, repurchase securities, number | loan	(9)	[2]
Transfers, repurchase securities, number | loan	1
Change in value, repurchase securities, number | loan	0
Ending balance, repurchase securities, number | Securities	23
Beginning balance, repurchase securities, value	$ 2,047
Additions, repurchase securities, value	6,333	[1]
Recoveries, repurchase securities, value	(4,429)	[2]
Transfers, repurchase securities, value	(332)
Change in value, repurchase securities, value	0
Ending balance, repurchase securities, value	$ 3,619
Inactive [Member]
Long-term Purchase Commitment [Line Items]
Beginning balance, repurchase securities, number | loan	252
Additions, repurchase securities, number | loan	100	[1]
Recoveries, net, repurchase securities, number | loan	(113)	[2]
Transfers, repurchase securities, number | loan	(1)
Change in value, repurchase securities, number | loan	0
Ending balance, repurchase securities, number | Securities	238
Beginning balance, repurchase securities, value	$ 14,833
Additions, repurchase securities, value	9,354	[1]
Recoveries, repurchase securities, value	(5,076)	[2]
Transfers, repurchase securities, value	332
Change in value, repurchase securities, value	(939)
Ending balance, repurchase securities, value	$ 18,504
[1]	Total repurchases during the six months ended June 30, 2019 includes 44 loans totaling $8.3 million related to MCA repurchases.
[2]	Includes amounts received upon assignment of loan to HUD, loan payoff, REO liquidation and claim proceeds less any amounts charged off as unrecoverable.

Commitments - Schedule of Act_2

Commitments - Schedule of Activity Related to HMBS Repurchases (Footnote) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)loan
Long-term Purchase Commitment [Line Items]
Number of maximum claim amount repurchases loans | loan	44
Amount of maximum claim amount repurchases | $	$ 8.3

Contingencies - Narrative (Deta

Contingencies - Narrative (Details)	Apr. 20, 2017StateStates	Apr. 30, 2019USD ($)	Apr. 30, 2017USD ($)	Jun. 30, 2019USD ($)LoanStates	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jun. 30, 2018USD ($)Loan	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Loss Contingencies [Line Items]
Accrued penalty				$ 53,072,000	$ 52,916,000	$ 62,763,000	$ 54,295,000	$ 46,305,000	$ 51,057,000
Number of states charging with regulatory action | States	29
Number of states where regulatory actions were resolved | States				29
Number of loan files to be tested relating to escrow on residential real property | Loan				9,000
Number of state attorneys general charging with regulatory action | State	2
Warranty repurchase demands unpaid principal balance				$ 15,900,000			$ 29,000,000
Warranty repurchase demands number of loans | Loan				85			184
Consumer Financial Protection Bureau [Member]
Loss Contingencies [Line Items]
Accrued penalty										$ 12,500,000
Massachusetts Regulatory Agency [Member]
Loss Contingencies [Line Items]
Litigation settlement expense		$ 675,000		$ 1,000,000
Florida Attorney General [Member]
Loss Contingencies [Line Items]
Injunctive and equitable relief, costs, and civil money penalties sought			$ 10,000
Multistate Mortgage Committee [Member]
Loss Contingencies [Line Items]
Accrued penalty				$ 0
Number of states who are part of confidential supervisory memorandum of understanding | States				6

Contingencies - Schedule of Ind

Contingencies - Schedule of Indemnification Obligations (Details) - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018
Indemnification Obligations Liability [Roll Forward]
Beginning balance	[1]	$ 49,267	$ 19,229
Provision for (reversal of) representation and warranty obligations		(3,831)	2,072
New production reserves		132	198
Charge-offs and other	[2]	(2,718)	(3,643)
Ending balance	[1]	$ 42,850	$ 17,856
[1]	The liability for representation and warranty obligations and compensatory fees for foreclosures is reported in Other liabilities (a component of Liability for indemnification obligations) on our unaudited consolidated balance sheets.
[2]	Includes principal and interest losses realized in connection with repurchased loans, make-whole, indemnification and fee payments and settlements net of recoveries, if any.

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - USD ($) $ in Thousands	Jul. 01, 2019	Jul. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Senior notes			$ 447,577	$ 448,727
Subsequent Event [Member]
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 300,000
Basis spread on variable rate	3.00%
Senior Secured Notes [Member] | 8.375% Senior Secured Notes Due In 2022 [Member]
Subsequent Event [Line Items]
Senior notes			$ 330,878	$ 330,878
Senior Secured Notes [Member] | 8.375% Senior Secured Notes Due In 2022 [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Face amount of repurchased senior secured notes		$ 29,400
Senior secured notes, repurchase amount		$ 25,700
Percentage of repurchase price to repurchased principal amount		87.00%
Percentage of repurchase amount to principal balance outstanding		9.00%