2023 Q3 Form 10-Q Financial Statement

#000162828023027316 Filed on August 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $255.5M $272.0M
YoY Change 2.31% 22.43%
Cost Of Revenue $15.50M $18.00M
YoY Change -18.41% -5.75%
Gross Profit $240.0M $254.0M
YoY Change 4.02% 25.09%
Gross Profit Margin 93.93% 93.38%
Selling, General & Admin $90.00M $62.00M
YoY Change -21.94% -46.97%
% of Gross Profit 37.5% 24.41%
Research & Development $13.10M $13.00M
YoY Change -8.9% -11.51%
% of Gross Profit 5.46% 5.12%
Depreciation & Amortization $1.500M $1.600M
YoY Change -39.52% -37.65%
% of Gross Profit 0.63% 0.63%
Operating Expenses $13.10M $116.0M
YoY Change -8.9% 689.6%
Operating Profit $226.9M $138.0M
YoY Change 4.88% -26.74%
Interest Expense $74.30M -$45.00M
YoY Change 47.44% -218.86%
% of Operating Profit 32.75% -32.61%
Other Income/Expense, Net -$119.7M -$77.00M
YoY Change -29.79% -24.18%
Pretax Income $9.500M $16.00M
YoY Change -71.2% 69.67%
Income Tax $1.000M $1.000M
% Of Pretax Income 10.53% 6.25%
Net Earnings $8.500M $15.00M
YoY Change -76.99% 44.87%
Net Earnings / Revenue 3.33% 5.51%
Basic Earnings Per Share $1.10 $2.02
Diluted Earnings Per Share $1.05 $1.95
COMMON SHARES
Basic Shares Outstanding 7.677M shares 7.640M shares
Diluted Shares Outstanding 8.060M shares 7.920M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $194.0M $213.0M
YoY Change -14.38% -16.76%
Cash & Equivalents $194.0M $213.4M
Short-Term Investments
Other Short-Term Assets $35.50M $29.40M
YoY Change 4.92% -26.21%
Inventory
Prepaid Expenses
Receivables $127.0M $189.0M
Other Receivables $37.70M $0.00
Total Short-Term Assets $394.2M $402.0M
YoY Change -8.59% -15.23%
LONG-TERM ASSETS
Property, Plant & Equipment $16.10M $17.00M
YoY Change -14.28% -11.46%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $48.80M $35.00M
YoY Change 23.2% -12.14%
Other Assets $74.30M $119.0M
YoY Change 52.91% 69.97%
Total Long-Term Assets $12.62B $12.81B
YoY Change 5.77% 10.15%
TOTAL ASSETS
Total Short-Term Assets $394.2M $402.0M
Total Long-Term Assets $12.62B $12.81B
Total Assets $13.01B $13.22B
YoY Change 5.27% 9.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $94.40M $103.2M
YoY Change -20.01% -2.94%
Accrued Expenses $93.20M $77.00M
YoY Change -38.8% -47.68%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $187.6M $180.2M
YoY Change -30.6% -28.91%
LONG-TERM LIABILITIES
Long-Term Debt $11.93B $12.18B
YoY Change 7.52% 11.62%
Other Long-Term Liabilities $451.6M $607.0M
YoY Change 0.18% 50.79%
Total Long-Term Liabilities $12.38B $12.78B
YoY Change 7.24% 13.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $187.6M $180.2M
Total Long-Term Liabilities $12.38B $12.78B
Total Liabilities $12.57B $12.78B
YoY Change 6.37% 10.53%
SHAREHOLDERS EQUITY
Retained Earnings -$104.2M -$112.6M
YoY Change 1166.25% 149.29%
Common Stock $100.0K $100.0K
YoY Change 26.58% 8.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $445.1M $434.0M
YoY Change
Total Liabilities & Shareholders Equity $13.01B $13.22B
YoY Change 5.27% 9.15%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $8.500M $15.00M
YoY Change -76.99% 44.87%
Depreciation, Depletion And Amortization $1.500M $1.600M
YoY Change -39.52% -37.65%
Cash From Operating Activities $377.3M -$441.3M
YoY Change -1061.03% -491.22%
INVESTING ACTIVITIES
Capital Expenditures $37.70M $22.60M
YoY Change -150.93% -156.62%
Acquisitions
YoY Change
Other Investing Activities $16.60M $20.00M
YoY Change -332.79% -138.65%
Cash From Investing Activities -$21.10M -$2.600M
YoY Change -74.0% -97.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -422.8M 520.5M
YoY Change -706.81% -1295.23%
NET CHANGE
Cash From Operating Activities 377.3M -441.3M
Cash From Investing Activities -21.10M -2.600M
Cash From Financing Activities -422.8M 520.5M
Net Change In Cash -66.60M 76.60M
YoY Change 31.27% -441.81%
FREE CASH FLOW
Cash From Operating Activities $377.3M -$441.3M
Capital Expenditures $37.70M $22.60M
Free Cash Flow $339.6M -$463.9M
YoY Change 876.96% -403.76%

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us-gaap Transfer To Other Real Estate
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400000 usd
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
0 usd
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
224100000 usd
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
0 usd
us-gaap Liabilities Assumed1
LiabilitiesAssumed1
219500000 usd
ocn Supplemental Deferred Purchase Price Holdback
SupplementalDeferredPurchasePriceHoldback
0 usd
ocn Supplemental Deferred Purchase Price Holdback
SupplementalDeferredPurchasePriceHoldback
-900000 usd
us-gaap Consideration Received For Beneficial Interest Obtained For Transferring Financial Asset
ConsiderationReceivedForBeneficialInterestObtainedForTransferringFinancialAsset
0 usd
us-gaap Consideration Received For Beneficial Interest Obtained For Transferring Financial Asset
ConsiderationReceivedForBeneficialInterestObtainedForTransferringFinancialAsset
3600000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
213400000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
255900000 usd
CY2023Q2 ocn Debt Service Accounts
DebtServiceAccounts
71200000 usd
CY2022Q2 ocn Debt Service Accounts
DebtServiceAccounts
13600000 usd
CY2023Q2 us-gaap Restricted Cash
RestrictedCash
47900000 usd
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
53100000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
332500000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
322600000 usd
CY2023Q2 dei Entity Number Of Employees
EntityNumberOfEmployees
4600 numberofemployees
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates and Assumptions</span></div><div style="margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 and the provision for losses that may arise from contingencies including litigation proceedings. In developing estimates and assumptions, management uses all available information; however, actual results could materially differ from those estimates and assumptions.</span></div>
ocn Average Periodto Securitization
AveragePeriodtoSecuritization
P30D
CY2023Q2 us-gaap Proceeds From Securitizations Of Loans Held For Sale
ProceedsFromSecuritizationsOfLoansHeldForSale
2298100000 usd
CY2022Q2 us-gaap Proceeds From Securitizations Of Loans Held For Sale
ProceedsFromSecuritizationsOfLoansHeldForSale
4109600000 usd
us-gaap Proceeds From Securitizations Of Loans Held For Sale
ProceedsFromSecuritizationsOfLoansHeldForSale
4614900000 usd
us-gaap Proceeds From Securitizations Of Loans Held For Sale
ProceedsFromSecuritizationsOfLoansHeldForSale
7697800000 usd
CY2023Q2 us-gaap Cash Flows Between Transferee And Transferor Servicing Fees
CashFlowsBetweenTransfereeAndTransferorServicingFees
28200000 usd
CY2022Q2 us-gaap Cash Flows Between Transferee And Transferor Servicing Fees
CashFlowsBetweenTransfereeAndTransferorServicingFees
23900000 usd
us-gaap Cash Flows Between Transferee And Transferor Servicing Fees
CashFlowsBetweenTransfereeAndTransferorServicingFees
55200000 usd
us-gaap Cash Flows Between Transferee And Transferor Servicing Fees
CashFlowsBetweenTransfereeAndTransferorServicingFees
45600000 usd
CY2023Q2 us-gaap Cash Flows Between Transferee And Transferor Purchases Of Previously Transferred Financial Assets
CashFlowsBetweenTransfereeAndTransferorPurchasesOfPreviouslyTransferredFinancialAssets
4000000.0 usd
CY2022Q2 us-gaap Cash Flows Between Transferee And Transferor Purchases Of Previously Transferred Financial Assets
CashFlowsBetweenTransfereeAndTransferorPurchasesOfPreviouslyTransferredFinancialAssets
4800000 usd
us-gaap Cash Flows Between Transferee And Transferor Purchases Of Previously Transferred Financial Assets
CashFlowsBetweenTransfereeAndTransferorPurchasesOfPreviouslyTransferredFinancialAssets
7100000 usd
us-gaap Cash Flows Between Transferee And Transferor Purchases Of Previously Transferred Financial Assets
CashFlowsBetweenTransfereeAndTransferorPurchasesOfPreviouslyTransferredFinancialAssets
6800000 usd
CY2023Q2 ocn Cash Flows Between Transferor And Transferee Proceeds And Payment Related To Transfers Accounted For Sales
CashFlowsBetweenTransferorAndTransfereeProceedsAndPaymentRelatedToTransfersAccountedForSales
2322400000 usd
CY2022Q2 ocn Cash Flows Between Transferor And Transferee Proceeds And Payment Related To Transfers Accounted For Sales
CashFlowsBetweenTransferorAndTransfereeProceedsAndPaymentRelatedToTransfersAccountedForSales
4128700000 usd
ocn Cash Flows Between Transferor And Transferee Proceeds And Payment Related To Transfers Accounted For Sales
CashFlowsBetweenTransferorAndTransfereeProceedsAndPaymentRelatedToTransfersAccountedForSales
4663000000 usd
ocn Cash Flows Between Transferor And Transferee Proceeds And Payment Related To Transfers Accounted For Sales
CashFlowsBetweenTransferorAndTransfereeProceedsAndPaymentRelatedToTransfersAccountedForSales
7736600000 usd
CY2023Q2 ocn Servicing Assets Additions Recognizedfrom Securitization Trusts Related To Transfers Accounted For As Sales
ServicingAssetsAdditionsRecognizedfromSecuritizationTrustsRelatedToTransfersAccountedForAsSales
31500000 usd
ocn Servicing Assets Additions Recognizedfrom Securitization Trusts Related To Transfers Accounted For As Sales
ServicingAssetsAdditionsRecognizedfromSecuritizationTrustsRelatedToTransfersAccountedForAsSales
62600000 usd
CY2022Q2 ocn Servicing Assets Additions Recognizedfrom Securitization Trusts Related To Transfers Accounted For As Sales
ServicingAssetsAdditionsRecognizedfromSecuritizationTrustsRelatedToTransfersAccountedForAsSales
60200000 usd
ocn Servicing Assets Additions Recognizedfrom Securitization Trusts Related To Transfers Accounted For As Sales
ServicingAssetsAdditionsRecognizedfromSecuritizationTrustsRelatedToTransfersAccountedForAsSales
106000000 usd
CY2023Q2 ocn Unpaid Principal Balance Of Loans Transferred
UnpaidPrincipalBalanceOfLoansTransferred
40875000000 usd
CY2022Q4 ocn Unpaid Principal Balance Of Loans Transferred
UnpaidPrincipalBalanceOfLoansTransferred
37571100000 usd
CY2023Q2 ocn Maximum Exposure To Loss
MaximumExposureToLoss
41520200000 usd
CY2022Q4 ocn Maximum Exposure To Loss
MaximumExposureToLoss
38171200000 usd
ocn Percentage Of Loan Transferred Through Securitization Sixty Days Or More Past Due
PercentageOfLoanTransferredThroughSecuritizationSixtyDaysOrMorePastDue
0.022
ocn Percentage Of Loan Transferred Through Securitization Sixty Days Or More Past Due
PercentageOfLoanTransferredThroughSecuritizationSixtyDaysOrMorePastDue
0.025
CY2023Q2 us-gaap Financing Receivable Threshold Period Past Due
FinancingReceivableThresholdPeriodPastDue
P60D
CY2022Q4 us-gaap Financing Receivable Threshold Period Past Due
FinancingReceivableThresholdPeriodPastDue
P60D
CY2023Q2 us-gaap Financing Receivable Threshold Period Past Due
FinancingReceivableThresholdPeriodPastDue
P60D
CY2022Q4 us-gaap Financing Receivable Threshold Period Past Due
FinancingReceivableThresholdPeriodPastDue
P60D
CY2022Q2 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
16500000 usd
CY2023Q2 ocn Sensitivity Analysis Of Fair Value Transferors Interests In Transferred Financial Assets Impact Of10 Percent Adverse Change In Prepayment Speed Percent
SensitivityAnalysisOfFairValueTransferorsInterestsInTransferredFinancialAssetsImpactOf10PercentAdverseChangeInPrepaymentSpeedPercent
0.008
CY2023Q2 ocn Sensitivity Analysis Of Fair Value Transferors Interests In Transferred Financial Assets Impact Of20 Percent Adverse Change In Prepayment Speed Percent
SensitivityAnalysisOfFairValueTransferorsInterestsInTransferredFinancialAssetsImpactOf20PercentAdverseChangeInPrepaymentSpeedPercent
0.016
CY2023Q2 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of10 Percent Adverse Change In Prepayment Speed
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInPrepaymentSpeed
63000000.0 usd
CY2023Q2 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of20 Percent Adverse Change In Prepayment Speed
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInPrepaymentSpeed
123400000 usd
CY2023Q2 ocn Sensitivity Analysis Of Fair Value Transferors Interests In Transferred Financial Assets Impact Of10 Percent Adverse Change In Discount Rate Percent
SensitivityAnalysisOfFairValueTransferorsInterestsInTransferredFinancialAssetsImpactOf10PercentAdverseChangeInDiscountRatePercent
0.010
CY2023Q2 ocn Sensitivity Analysis Of Fair Value Transferors Interests In Transferred Financial Assets Impact Of20 Percent Adverse Change In Discount Rate Percent
SensitivityAnalysisOfFairValueTransferorsInterestsInTransferredFinancialAssetsImpactOf20PercentAdverseChangeInDiscountRatePercent
0.019
CY2023Q2 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of10 Percent Adverse Change In Discount Rate
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf10PercentAdverseChangeInDiscountRate
72500000 usd
CY2023Q2 us-gaap Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of20 Percent Adverse Change In Discount Rate
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOf20PercentAdverseChangeInDiscountRate
139300000 usd
CY2023Q1 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
845200000 usd
CY2022Q1 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
716000000.0 usd
CY2022Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
617800000 usd
CY2021Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
917500000 usd
CY2023Q2 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
2859900000 usd
CY2022Q2 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
4682000000 usd
us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
5412300000 usd
us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
8154600000 usd
CY2023Q2 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
2279600000 usd
CY2022Q2 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
4603400000 usd
us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
4575800000 usd
us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
8174200000 usd
CY2023Q2 us-gaap Proceeds From Loan And Lease Originations And Principal Collections1
ProceedsFromLoanAndLeaseOriginationsAndPrincipalCollections1
31600000 usd
CY2022Q2 us-gaap Proceeds From Loan And Lease Originations And Principal Collections1
ProceedsFromLoanAndLeaseOriginationsAndPrincipalCollections1
65800000 usd
us-gaap Proceeds From Loan And Lease Originations And Principal Collections1
ProceedsFromLoanAndLeaseOriginationsAndPrincipalCollections1
47000000.0 usd
us-gaap Proceeds From Loan And Lease Originations And Principal Collections1
ProceedsFromLoanAndLeaseOriginationsAndPrincipalCollections1
95200000 usd
CY2023Q2 us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
1500000 usd
us-gaap Transfer Of Portfolio Loans And Leases To Held For Sale1
TransferOfPortfolioLoansAndLeasesToHeldForSale1
19600000 usd
CY2023Q2 ocn Transfer Of Portfolio Loans To Receivables
TransferOfPortfolioLoansToReceivables
-15600000 usd
CY2022Q2 ocn Transfer Of Portfolio Loans To Receivables
TransferOfPortfolioLoansToReceivables
32900000 usd
ocn Transfer Of Portfolio Loans To Receivables
TransferOfPortfolioLoansToReceivables
-14500000 usd
ocn Transfer Of Portfolio Loans To Receivables
TransferOfPortfolioLoansToReceivables
32200000 usd
CY2023Q2 ocn Transfer Of Portfolio Loans To Real Estate Owned
TransferOfPortfolioLoansToRealEstateOwned
7100000 usd
CY2022Q2 ocn Transfer Of Portfolio Loans To Real Estate Owned
TransferOfPortfolioLoansToRealEstateOwned
0 usd
ocn Transfer Of Portfolio Loans To Real Estate Owned
TransferOfPortfolioLoansToRealEstateOwned
11200000 usd
ocn Transfer Of Portfolio Loans To Real Estate Owned
TransferOfPortfolioLoansToRealEstateOwned
0 usd
CY2023Q2 ocn Capitalization Of Advances On Ginnie Mae Modifications
CapitalizationOfAdvancesOnGinnieMaeModifications
1700000 usd
CY2022Q2 ocn Capitalization Of Advances On Ginnie Mae Modifications
CapitalizationOfAdvancesOnGinnieMaeModifications
5800000 usd
ocn Capitalization Of Advances On Ginnie Mae Modifications
CapitalizationOfAdvancesOnGinnieMaeModifications
3700000 usd
ocn Capitalization Of Advances On Ginnie Mae Modifications
CapitalizationOfAdvancesOnGinnieMaeModifications
13100000 usd
CY2023Q2 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
-28400000 usd
CY2022Q2 us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
-114300000 usd
us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
-50400000 usd
us-gaap Gain Loss On Sale Of Mortgage Loans
GainLossOnSaleOfMortgageLoans
-186600000 usd
CY2023Q2 us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
4000000.0 usd
CY2022Q2 us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
10800000 usd
us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
10200000 usd
us-gaap Increase Decrease In Loans Held For Sale
IncreaseDecreaseInLoansHeldForSale
-1400000 usd
CY2023Q2 ocn Other Adjustment Mortgage Loans Held For Sale
OtherAdjustmentMortgageLoansHeldForSale
2800000 usd
CY2022Q2 ocn Other Adjustment Mortgage Loans Held For Sale
OtherAdjustmentMortgageLoansHeldForSale
2500000 usd
ocn Other Adjustment Mortgage Loans Held For Sale
OtherAdjustmentMortgageLoansHeldForSale
4500000 usd
ocn Other Adjustment Mortgage Loans Held For Sale
OtherAdjustmentMortgageLoansHeldForSale
3600000 usd
CY2023Q2 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
1352900000 usd
CY2022Q2 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
683100000 usd
CY2023Q2 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
1352900000 usd
CY2022Q2 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
683100000 usd
CY2023Q2 ocn Principal Amount Outstanding On Loans Held For Sale
PrincipalAmountOutstandingOnLoansHeldForSale
1341000000 usd
CY2022Q2 ocn Principal Amount Outstanding On Loans Held For Sale
PrincipalAmountOutstandingOnLoansHeldForSale
685100000 usd
CY2023Q2 ocn Premium Discount Balance On Loans Held For Sale
PremiumDiscountBalanceOnLoansHeldForSale
15000000.0 usd
CY2022Q2 ocn Premium Discount Balance On Loans Held For Sale
PremiumDiscountBalanceOnLoansHeldForSale
3800000 usd
CY2023Q2 ocn Fair Value Adjustment To Loans Held For Sale
FairValueAdjustmentToLoansHeldForSale
-3100000 usd
CY2022Q2 ocn Fair Value Adjustment To Loans Held For Sale
FairValueAdjustmentToLoansHeldForSale
-5700000 usd
CY2023Q2 us-gaap Mortgages Held For Sale Fair Value Disclosure
MortgagesHeldForSaleFairValueDisclosure
1352900000 usd
CY2022Q2 us-gaap Mortgages Held For Sale Fair Value Disclosure
MortgagesHeldForSaleFairValueDisclosure
683100000 usd
CY2023Q2 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
1352900000 usd
CY2022Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
617800000 usd
CY2023Q2 ocn Loans Held For Sale At Lower Of Cost Or Fair Value Before Valuation Allowance
LoansHeldForSaleAtLowerOfCostOrFairValueBeforeValuationAllowance
7400000 usd
CY2022Q2 ocn Loans Held For Sale At Lower Of Cost Or Fair Value Before Valuation Allowance
LoansHeldForSaleAtLowerOfCostOrFairValueBeforeValuationAllowance
8100000 usd
CY2023Q2 us-gaap Allowance For Notes And Loans Receivable Current
AllowanceForNotesAndLoansReceivableCurrent
3700000 usd
CY2022Q2 us-gaap Allowance For Notes And Loans Receivable Current
AllowanceForNotesAndLoansReceivableCurrent
3800000 usd
CY2023Q2 ocn Loans Held For Sale At Lower Of Cost Or Fair Value
LoansHeldForSaleAtLowerOfCostOrFairValue
3700000 usd
CY2022Q2 ocn Loans Held For Sale At Lower Of Cost Or Fair Value
LoansHeldForSaleAtLowerOfCostOrFairValue
4300000 usd
CY2023Q2 ocn Servicing Assets Additions Recognizedfrom Securitization Trusts Related To Transfers Accounted For As Sales
ServicingAssetsAdditionsRecognizedfromSecuritizationTrustsRelatedToTransfersAccountedForAsSales
31500000 usd
CY2022Q2 ocn Servicing Assets Additions Recognizedfrom Securitization Trusts Related To Transfers Accounted For As Sales
ServicingAssetsAdditionsRecognizedfromSecuritizationTrustsRelatedToTransfersAccountedForAsSales
60200000 usd
ocn Servicing Assets Additions Recognizedfrom Securitization Trusts Related To Transfers Accounted For As Sales
ServicingAssetsAdditionsRecognizedfromSecuritizationTrustsRelatedToTransfersAccountedForAsSales
62600000 usd
ocn Servicing Assets Additions Recognizedfrom Securitization Trusts Related To Transfers Accounted For As Sales
ServicingAssetsAdditionsRecognizedfromSecuritizationTrustsRelatedToTransfersAccountedForAsSales
106000000.0 usd
CY2023Q2 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
3300000 usd
CY2022Q2 us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
-40400000 usd
us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
12400000 usd
us-gaap Debt And Equity Securities Gain Loss
DebtAndEquitySecuritiesGainLoss
-66300000 usd
CY2023Q2 ocn Gain Loss On Interest Rate Derivative Instruments
GainLossOnInterestRateDerivativeInstruments
-3200000 usd
CY2022Q2 ocn Gain Loss On Interest Rate Derivative Instruments
GainLossOnInterestRateDerivativeInstruments
900000 usd
ocn Gain Loss On Interest Rate Derivative Instruments
GainLossOnInterestRateDerivativeInstruments
2400000 usd
ocn Gain Loss On Interest Rate Derivative Instruments
GainLossOnInterestRateDerivativeInstruments
-11200000 usd
CY2023Q2 ocn Change In Fair Value Of Mortgage Loans Held For Sale
ChangeInFairValueOfMortgageLoansHeldForSale
4300000 usd
CY2022Q2 ocn Change In Fair Value Of Mortgage Loans Held For Sale
ChangeInFairValueOfMortgageLoansHeldForSale
12000000.0 usd
ocn Change In Fair Value Of Mortgage Loans Held For Sale
ChangeInFairValueOfMortgageLoansHeldForSale
9100000 usd
CY2023Q2 us-gaap Gain Loss On Fair Value Hedges Recognized In Earnings
GainLossOnFairValueHedgesRecognizedInEarnings
21200000 usd
CY2022Q2 us-gaap Gain Loss On Fair Value Hedges Recognized In Earnings
GainLossOnFairValueHedgesRecognizedInEarnings
29100000 usd
us-gaap Gain Loss On Fair Value Hedges Recognized In Earnings
GainLossOnFairValueHedgesRecognizedInEarnings
4800000 usd
us-gaap Gain Loss On Fair Value Hedges Recognized In Earnings
GainLossOnFairValueHedgesRecognizedInEarnings
76200000 usd
CY2023Q2 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-300000 usd
CY2022Q2 us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-700000 usd
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-600000 usd
us-gaap Gains Losses On Sales Of Other Real Estate
GainsLossesOnSalesOfOtherRealEstate
-1400000 usd
CY2023Q2 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
25300000 usd
CY2022Q2 us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
900000 usd
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
28100000 usd
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
-2300000 usd
CY2023Q2 ocn Change In Fair Value Of Mortgage Loans Held For Sale Revaluation Gain Loss
ChangeInFairValueOfMortgageLoansHeldForSaleRevaluationGainLoss
10900000 usd
CY2023Q1 ocn Loans Held For Investment Reverse Mortgages
LoansHeldForInvestmentReverseMortgages
7662900000 usd
CY2023Q1 ocn Loans Held For Investment Reverse Mortgages
LoansHeldForInvestmentReverseMortgages
7662900000 usd
CY2023Q1 ocn Loans Held For Investment Reverse Mortgages
LoansHeldForInvestmentReverseMortgages
7662900000 usd
CY2023Q1 ocn Loans Held For Investment Reverse Mortgages
LoansHeldForInvestmentReverseMortgages
7662900000 usd
CY2023Q1 ocn Home Equity Conversion Mortgage Backed Securities Related Borrowings At Fair Value
HomeEquityConversionMortgageBackedSecuritiesRelatedBorrowingsAtFairValue
7470600000 usd
CY2022Q1 ocn Loans Held For Investment Reverse Mortgages
LoansHeldForInvestmentReverseMortgages
7451600000 usd
CY2022Q1 ocn Home Equity Conversion Mortgage Backed Securities Related Borrowings At Fair Value
HomeEquityConversionMortgageBackedSecuritiesRelatedBorrowingsAtFairValue
7118800000 usd
CY2023Q2 ocn Loans Held For Investment Reverse Mortgages Originations
LoansHeldForInvestmentReverseMortgagesOriginations
272200000 usd
CY2022Q2 ocn Loans Held For Investment Reverse Mortgages Originations
LoansHeldForInvestmentReverseMortgagesOriginations
524600000 usd
CY2023Q2 ocn Hmbs Related Borrowings Securitization
HMBSRelatedBorrowingsSecuritization
271100000 usd
CY2022Q2 ocn Hmbs Related Borrowings Securitization
HMBSRelatedBorrowingsSecuritization
566000000.0 usd
CY2023Q2 ocn Hmbs Related Borrowings Additional Proceeds From Securitization Of Hecm Loans And Tails
HMBSRelatedBorrowingsAdditionalProceedsFromSecuritizationOfHECMLoansAndTails
-100000 usd
CY2022Q2 ocn Hmbs Related Borrowings Additional Proceeds From Securitization Of Hecm Loans And Tails
HMBSRelatedBorrowingsAdditionalProceedsFromSecuritizationOfHECMLoansAndTails
10100000 usd
CY2023Q2 ocn Loans Held For Investment Reverse Mortgages Repayments
LoansHeldForInvestmentReverseMortgagesRepayments
291800000 usd
CY2023Q2 ocn Hmbs Related Borrowings Repayments
HMBSRelatedBorrowingsRepayments
289800000 usd
CY2022Q2 ocn Loans Held For Investment Reverse Mortgages Repayments
LoansHeldForInvestmentReverseMortgagesRepayments
476300000 usd
CY2022Q2 ocn Hmbs Related Borrowings Repayments
HMBSRelatedBorrowingsRepayments
476100000 usd
CY2023Q2 ocn Loans Held For Investment Reverse Mortgages Loans Held For Sale At Fair Value
LoansHeldForInvestmentReverseMortgagesLoansHeldForSaleAtFairValue
1500000 usd
CY2022Q2 ocn Loans Held For Investment Reverse Mortgages Loans Held For Sale At Fair Value
LoansHeldForInvestmentReverseMortgagesLoansHeldForSaleAtFairValue
16500000 usd
CY2023Q2 ocn Loans Held For Investment Reverse Mortgages Receivables Net
LoansHeldForInvestmentReverseMortgagesReceivablesNet
1000000.0 usd
CY2022Q2 ocn Loans Held For Investment Reverse Mortgages Receivables Net
LoansHeldForInvestmentReverseMortgagesReceivablesNet
36900000 usd
CY2023Q2 ocn Loans Held For Investment Reverse Mortgages Fair Value Changes
LoansHeldForInvestmentReverseMortgagesFairValueChanges
34100000 usd
CY2023Q2 ocn Hmbs Related Borrowings Change In Fair Value
HMBSRelatedBorrowingsChangeInFairValue
-34500000 usd
CY2022Q2 ocn Loans Held For Investment Reverse Mortgages Fair Value Changes
LoansHeldForInvestmentReverseMortgagesFairValueChanges
-69900000 usd
CY2022Q2 ocn Hmbs Related Borrowings Change In Fair Value
HMBSRelatedBorrowingsChangeInFairValue
63600000 usd
CY2023Q2 ocn Loans Held For Investment Reverse Mortgages
LoansHeldForInvestmentReverseMortgages
7674800000 usd
CY2023Q2 ocn Home Equity Conversion Mortgage Backed Securities Related Borrowings At Fair Value
HomeEquityConversionMortgageBackedSecuritiesRelatedBorrowingsAtFairValue
7486400000 usd
CY2022Q2 ocn Loans Held For Investment Reverse Mortgages
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CY2022Q2 ocn Loans Held For Investment Reverse Mortgages Un Securitized Loans
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CY2023Q2 ocn Loans Held For Investment Reverse Mortgages
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CY2022Q2 ocn Loans Held For Investment Reverse Mortgages
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CY2022Q4 ocn Loans Held For Investment Reverse Mortgages
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CY2022Q4 ocn Home Equity Conversion Mortgage Backed Securities Related Borrowings At Fair Value
HomeEquityConversionMortgageBackedSecuritiesRelatedBorrowingsAtFairValue
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HomeEquityConversionMortgageBackedSecuritiesRelatedBorrowingsAtFairValue
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ocn Loans Held For Investment Reverse Mortgages Originations
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HMBSRelatedBorrowingsAdditionalProceedsFromSecuritizationOfHECMLoansAndTails
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ocn Loans Held For Investment Reverse Mortgages Acquisitions
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HMBSRelatedBorrowingsAcquisitions
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ocn Loans Held For Investment Reverse Mortgages Repayments
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HMBSRelatedBorrowingsRepayments
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ocn Loans Held For Investment Reverse Mortgages Repayments
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ocn Loans Held For Investment Reverse Mortgages Loans Held For Sale At Fair Value
LoansHeldForInvestmentReverseMortgagesLoansHeldForSaleAtFairValue
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ocn Loans Held For Investment Reverse Mortgages Loans Held For Sale At Fair Value
LoansHeldForInvestmentReverseMortgagesLoansHeldForSaleAtFairValue
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ocn Loans Held For Investment Reverse Mortgages Receivables Net
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ocn Loans Held For Investment Reverse Mortgages Real Estate Owned
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ocn Loans Held For Investment Reverse Mortgages Real Estate Owned
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ocn Loans Held For Investment Reverse Mortgages Fair Value Changes
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ocn Hmbs Related Borrowings Change In Fair Value
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ocn Loans Held For Investment Reverse Mortgages Fair Value Changes
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CY2023Q2 ocn Loans Held For Investment Reverse Mortgages
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CY2023Q2 ocn Home Equity Conversion Mortgage Backed Securities Related Borrowings At Fair Value
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CY2022Q2 ocn Home Equity Conversion Mortgage Backed Securities Related Borrowings At Fair Value
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CY2023Q2 ocn Loans Held For Investment Reverse Mortgages Un Securitized Loans
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CY2022Q2 ocn Loans Held For Investment Reverse Mortgages Un Securitized Loans
LoansHeldForInvestmentReverseMortgagesUnSecuritizedLoans
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CY2023Q2 us-gaap Gain Loss On Securitization Of Financial Assets
GainLossOnSecuritizationOfFinancialAssets
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CY2023Q2 ocn Loans Held For Investment Reverse Mortgages
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CY2022Q2 ocn Loans Held For Investment Reverse Mortgages
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CY2022Q2 us-gaap Gain Loss On Securitization Of Financial Assets
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CY2023Q2 ocn Gain On Tail Securitization
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GainOnTailSecuritization
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ocn Gain On Tail Securitization
GainOnTailSecuritization
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CY2023Q2 ocn Net Interest Income Servicing Fee
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CY2022Q2 ocn Net Interest Income Servicing Fee
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NetInterestIncomeServicingFee
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CY2023Q2 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
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CY2022Q2 us-gaap Fair Value Option Changes In Fair Value Gain Loss1
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us-gaap Fair Value Option Changes In Fair Value Gain Loss1
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us-gaap Fair Value Option Changes In Fair Value Gain Loss1
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CY2023Q2 us-gaap Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
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CY2022Q2 us-gaap Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
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us-gaap Fair Value Assets And Liabilities Measured On Recurring Basis Gain Loss Included In Earnings
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FeeandCommissionsReverseMortgageBanking
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CY2023Q2 ocn Advances Payments On Behalf Of Borrower Gross
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CY2023Q2 ocn Advances Payments On Behalf Of Borrower Net Of Valuation Allowance
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CY2023Q1 ocn Advances Payments On Behalf Of Borrower Before Allowance For Losses
AdvancesPaymentsOnBehalfOfBorrowerBeforeAllowanceForLosses
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CY2022Q1 ocn Advances Payments On Behalf Of Borrower Before Allowance For Losses
AdvancesPaymentsOnBehalfOfBorrowerBeforeAllowanceForLosses
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CY2022Q4 ocn Advances Payments On Behalf Of Borrower Before Allowance For Losses
AdvancesPaymentsOnBehalfOfBorrowerBeforeAllowanceForLosses
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CY2021Q4 ocn Advances Payments On Behalf Of Borrower Before Allowance For Losses
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CY2023Q2 ocn Advances Payments On Behalf Of Borrower Increase
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CY2023Q2 ocn Advances Payments On Behalf Of Borrower Transfers To Other Assets
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CY2023Q2 ocn Advances Paymentson Behalfof Borrower Sales
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CY2022Q2 ocn Advances Paymentson Behalfof Borrower Sales
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CY2023Q2 ocn Advances Paymentson Behalfof Borrowers Collection Of Advances Charge Offs And Other Net
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CY2022Q2 ocn Advances Paymentson Behalfof Borrowers Collection Of Advances Charge Offs And Other Net
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CY2023Q2 ocn Advances Payments On Behalf Of Borrower Before Allowance For Losses
AdvancesPaymentsOnBehalfOfBorrowerBeforeAllowanceForLosses
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CY2023Q2 ocn Financing Receivable Allowance For Credit Loss Writeoffs And Other
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CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
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CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
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CY2023Q2 ocn Advances Payments On Behalf Of Borrower Net
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CY2022Q2 ocn Advances Payments On Behalf Of Borrower Net
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CY2023Q2 ocn Advances Payments On Behalf Of Borrower Net
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CY2022Q2 ocn Advances Payments On Behalf Of Borrower Net
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CY2022Q1 us-gaap Servicing Asset At Fair Value Amount
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CY2023Q2 us-gaap Servicing Asset At Fair Value Disposals
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CY2023Q2 ocn Servicing Assets At Fair Value Additions Recognized From Mortgage Sales
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CY2022Q2 ocn Servicing Assets At Fair Value Additions Recognized From Mortgage Sales
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CY2022Q2 us-gaap Servicing Asset At Fair Value Additions
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CY2023Q2 ocn Servicing Assets At Fair Value Net Additions Sales Recognized
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CY2022Q2 ocn Servicing Assets At Fair Value Net Additions Sales Recognized
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CY2023Q2 us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
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us-gaap Servicing Asset At Fair Value Disposals
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ocn Servicing Assets At Fair Value Additions Recognized From Mortgage Sales
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us-gaap Mortgage Loans On Real Estate Cost Of Mortgages Sold
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us-gaap Contractually Specified Servicing Fees Amount
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CY2023Q2 ocn Contractually Specified Subservicing Fees Amount
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CY2022Q2 ocn Contractually Specified Subservicing Fees Amount
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CY2023Q2 ocn Contractually Specified Servicing Fees Collected On Behalf Of Counterparty
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ocn Contractually Specified Servicing Fees Collected On Behalf Of Counterparty
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ocn Contractually Specified Servicing Fees Collected On Behalf Of Counterparty
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CY2023Q2 ocn Servicing Fee Collected On Behalf Of Counterparty
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CY2022Q2 ocn Servicing Fee Collected On Behalf Of Counterparty
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ocn Servicing Fee Collected On Behalf Of Counterparty
ServicingFeeCollectedOnBehalfOfCounterparty
118800000 usd
ocn Servicing Fee Collected On Behalf Of Counterparty
ServicingFeeCollectedOnBehalfOfCounterparty
131900000 usd
CY2023Q2 ocn Contractually Specified Servicing And Subservicing Fees Amount Total
ContractuallySpecifiedServicingAndSubservicingFeesAmountTotal
184400000 usd
CY2022Q2 ocn Contractually Specified Servicing And Subservicing Fees Amount Total
ContractuallySpecifiedServicingAndSubservicingFeesAmountTotal
184800000 usd
ocn Contractually Specified Servicing And Subservicing Fees Amount Total
ContractuallySpecifiedServicingAndSubservicingFeesAmountTotal
371800000 usd
ocn Contractually Specified Servicing And Subservicing Fees Amount Total
ContractuallySpecifiedServicingAndSubservicingFeesAmountTotal
371800000 usd
CY2023Q2 ocn Float Earnings Earned In Exchange For Servicing Financial Assets
FloatEarningsEarnedInExchangeForServicingFinancialAssets
26200000 usd
CY2022Q2 ocn Float Earnings Earned In Exchange For Servicing Financial Assets
FloatEarningsEarnedInExchangeForServicingFinancialAssets
1800000 usd
ocn Float Earnings Earned In Exchange For Servicing Financial Assets
FloatEarningsEarnedInExchangeForServicingFinancialAssets
46400000 usd
ocn Float Earnings Earned In Exchange For Servicing Financial Assets
FloatEarningsEarnedInExchangeForServicingFinancialAssets
2800000 usd
CY2023Q2 us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
9500000 usd
CY2022Q2 us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
11700000 usd
us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
19000000.0 usd
us-gaap Late Fee Income Generated By Servicing Financial Assets Amount
LateFeeIncomeGeneratedByServicingFinancialAssetsAmount
21800000 usd
CY2023Q2 ocn Reverse Subservicing Ancillary Income
ReverseSubservicingAncillaryIncome
9800000 usd
CY2022Q2 ocn Reverse Subservicing Ancillary Income
ReverseSubservicingAncillaryIncome
6300000 usd
ocn Reverse Subservicing Ancillary Income
ReverseSubservicingAncillaryIncome
18000000.0 usd
ocn Reverse Subservicing Ancillary Income
ReverseSubservicingAncillaryIncome
9400000 usd
CY2023Q2 ocn Loan Collection Fees Earned In Exchange For Servicing Financial Assets
LoanCollectionFeesEarnedInExchangeForServicingFinancialAssets
2300000 usd
CY2022Q2 ocn Loan Collection Fees Earned In Exchange For Servicing Financial Assets
LoanCollectionFeesEarnedInExchangeForServicingFinancialAssets
2900000 usd
ocn Loan Collection Fees Earned In Exchange For Servicing Financial Assets
LoanCollectionFeesEarnedInExchangeForServicingFinancialAssets
4900000 usd
ocn Loan Collection Fees Earned In Exchange For Servicing Financial Assets
LoanCollectionFeesEarnedInExchangeForServicingFinancialAssets
5800000 usd
CY2023Q2 ocn Recording Fees
RecordingFees
1300000 usd
CY2022Q2 ocn Recording Fees
RecordingFees
2600000 usd
ocn Recording Fees
RecordingFees
2500000 usd
ocn Recording Fees
RecordingFees
5900000 usd
CY2023Q2 ocn Boarding And De Boarding Fees
BoardingAndDeBoardingFees
900000 usd
CY2022Q2 ocn Boarding And De Boarding Fees
BoardingAndDeBoardingFees
1900000 usd
ocn Boarding And De Boarding Fees
BoardingAndDeBoardingFees
1800000 usd
ocn Boarding And De Boarding Fees
BoardingAndDeBoardingFees
3600000 usd
CY2023Q2 ocn Gse Forbearance Fees
GSEForbearanceFees
300000 usd
CY2022Q2 ocn Gse Forbearance Fees
GSEForbearanceFees
200000 usd
ocn Gse Forbearance Fees
GSEForbearanceFees
500000 usd
ocn Gse Forbearance Fees
GSEForbearanceFees
400000 usd
CY2023Q2 us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount
2900000 usd
CY2022Q2 us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount
3000000.0 usd
us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount
4800000 usd
us-gaap Ancillary Fee Income Generated By Servicing Financial Assets Amount
AncillaryFeeIncomeGeneratedByServicingFinancialAssetsAmount
6300000 usd
CY2023Q2 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
53200000 usd
CY2022Q2 us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
30300000 usd
us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
97900000 usd
us-gaap Contractually Specified Servicing Fees Late Fees And Ancillary Fees Earned In Exchange For Servicing Financial Assets
ContractuallySpecifiedServicingFeesLateFeesAndAncillaryFeesEarnedInExchangeForServicingFinancialAssets
56000000.0 usd
CY2023Q2 ocn Servicing And Subservicing Fees
ServicingAndSubservicingFees
237600000 usd
CY2022Q2 ocn Servicing And Subservicing Fees
ServicingAndSubservicingFees
215100000 usd
ocn Servicing And Subservicing Fees
ServicingAndSubservicingFees
469700000 usd
ocn Servicing And Subservicing Fees
ServicingAndSubservicingFees
427800000 usd
CY2023Q2 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
FairValueDisclosureOffbalanceSheetRisksAmountAsset
2200000000 usd
CY2022Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
FairValueDisclosureOffbalanceSheetRisksAmountAsset
1500000000 usd
CY2022Q2 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Asset
FairValueDisclosureOffbalanceSheetRisksAmountAsset
1800000000 usd
CY2023Q2 us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptions
-136800000 usd
CY2022Q2 us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptions
-118300000 usd
us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptions
-53200000 usd
us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptions
-321800000 usd
CY2023Q2 ocn Msr Realization Of Expected Cash Flows
MSRRealizationOfExpectedCashFlows
59600000 usd
CY2022Q2 ocn Msr Realization Of Expected Cash Flows
MSRRealizationOfExpectedCashFlows
67600000 usd
ocn Msr Realization Of Expected Cash Flows
MSRRealizationOfExpectedCashFlows
116600000 usd
ocn Msr Realization Of Expected Cash Flows
MSRRealizationOfExpectedCashFlows
140400000 usd
CY2023Q2 ocn Total Msr Fair Value Gains Losses
TotalMSRFairValueGainsLosses
-77200000 usd
CY2022Q2 ocn Total Msr Fair Value Gains Losses
TotalMSRFairValueGainsLosses
-50700000 usd
ocn Total Msr Fair Value Gains Losses
TotalMSRFairValueGainsLosses
63300000 usd
ocn Total Msr Fair Value Gains Losses
TotalMSRFairValueGainsLosses
-181400000 usd
CY2023Q2 us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputs
48900000 usd
CY2022Q2 us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputs
-22100000 usd
us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputs
117900000 usd
us-gaap Servicing Asset At Fair Value Changes In Fair Value Resulting From Changes In Valuation Inputs
ServicingAssetAtFairValueChangesInFairValueResultingFromChangesInValuationInputs
-57500000 usd
CY2023Q2 ocn Total Msr Reserve Fair Value Gains Losses
TotalMSRReserveFairValueGainsLosses
100000 usd
ocn Total Msr Reserve Fair Value Gains Losses
TotalMSRReserveFairValueGainsLosses
300000 usd
CY2022Q2 ocn Total Msr Reserve Fair Value Gains Losses
TotalMSRReserveFairValueGainsLosses
0 usd
ocn Total Msr Reserve Fair Value Gains Losses
TotalMSRReserveFairValueGainsLosses
0 usd
CY2023Q2 ocn Other Financing Liabilities
OtherFinancingLiabilities
1274000000 usd
CY2022Q4 ocn Other Financing Liabilities
OtherFinancingLiabilities
1137400000 usd
CY2023Q2 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
74700000 usd
CY2022Q2 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
82200000 usd
CY2023Q2 ocn Bank Servicing Fees Retained
BankServicingFeesRetained
-19100000 usd
CY2022Q2 ocn Bank Servicing Fees Retained
BankServicingFeesRetained
-21000000.0 usd
CY2023Q2 ocn Ancillary And Other Settlement
AncillaryAndOtherSettlement
3500000 usd
CY2022Q2 ocn Ancillary And Other Settlement
AncillaryAndOtherSettlement
1800000 usd
CY2023Q2 us-gaap Financing Interest Expense
FinancingInterestExpense
73000000.0 usd
CY2022Q2 us-gaap Financing Interest Expense
FinancingInterestExpense
63000000.0 usd
us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
150700000 usd
us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
165100000 usd
ocn Bank Servicing Fees Retained
BankServicingFeesRetained
-38600000 usd
ocn Bank Servicing Fees Retained
BankServicingFeesRetained
-42500000 usd
ocn Ancillary And Other Settlement
AncillaryAndOtherSettlement
6700000 usd
ocn Ancillary And Other Settlement
AncillaryAndOtherSettlement
100000 usd
us-gaap Financing Interest Expense
FinancingInterestExpense
143300000 usd
us-gaap Financing Interest Expense
FinancingInterestExpense
122700000 usd
CY2022Q2 ocn Servicing Agreement Renewal Term
ServicingAgreementRenewalTerm
P1Y
CY2023Q2 ocn Number Of Subservicers
NumberOfSubservicers
3 subservicer
CY2023Q2 ocn Servicing Receivable Government Insured Loan Claims
ServicingReceivableGovernmentInsuredLoanClaims
50600000 usd
CY2022Q4 ocn Servicing Receivable Government Insured Loan Claims
ServicingReceivableGovernmentInsuredLoanClaims
65000000.0 usd
CY2023Q2 ocn Servicing Receivable Government Insured Loan Claims Reverse
ServicingReceivableGovernmentInsuredLoanClaimsReverse
89000000.0 usd
CY2022Q4 ocn Servicing Receivable Government Insured Loan Claims Reverse
ServicingReceivableGovernmentInsuredLoanClaimsReverse
73800000 usd
CY2023Q2 ocn Subservicing Fees And Reimbursable Expenses
SubservicingFeesAndReimbursableExpenses
13500000 usd
CY2022Q4 ocn Subservicing Fees And Reimbursable Expenses
SubservicingFeesAndReimbursableExpenses
11700000 usd
CY2023Q2 ocn Servicing Receivable Due From Custodial Accounts
ServicingReceivableDueFromCustodialAccounts
11600000 usd
CY2022Q4 ocn Servicing Receivable Due From Custodial Accounts
ServicingReceivableDueFromCustodialAccounts
16300000 usd
CY2023Q2 ocn Receivables From Sale Of Mortgage Servicing Rights
ReceivablesFromSaleOfMortgageServicingRights
10500000 usd
CY2022Q4 ocn Receivables From Sale Of Mortgage Servicing Rights
ReceivablesFromSaleOfMortgageServicingRights
1500000 usd
CY2023Q2 ocn Counter Party Receivables
CounterPartyReceivables
1800000 usd
CY2022Q4 ocn Counter Party Receivables
CounterPartyReceivables
3000000.0 usd
CY2023Q2 ocn Subservicing Fees And Reimbursable Expenses Due From Mav
SubservicingFeesAndReimbursableExpensesDueFromMAV
1700000 usd
CY2022Q4 ocn Subservicing Fees And Reimbursable Expenses Due From Mav
SubservicingFeesAndReimbursableExpensesDueFromMAV
1000000.0 usd
CY2023Q2 ocn Servicing Receivable Other
ServicingReceivableOther
700000 usd
CY2022Q4 ocn Servicing Receivable Other
ServicingReceivableOther
3200000 usd
CY2023Q2 ocn Servicing Receivable Net
ServicingReceivableNet
179400000 usd
CY2022Q4 ocn Servicing Receivable Net
ServicingReceivableNet
175500000 usd
CY2023Q2 us-gaap Income Tax Receivable
IncomeTaxReceivable
27300000 usd
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
34400000 usd
CY2023Q2 ocn Other Receivables Net
OtherReceivablesNet
9300000 usd
CY2022Q4 ocn Other Receivables Net
OtherReceivablesNet
5200000 usd
CY2023Q2 ocn Other Receivables Gross
OtherReceivablesGross
216000000.0 usd
CY2022Q4 ocn Other Receivables Gross
OtherReceivablesGross
215100000 usd
CY2023Q2 ocn Other Receivables Allowance For Losses
OtherReceivablesAllowanceForLosses
27400000 usd
CY2022Q4 ocn Other Receivables Allowance For Losses
OtherReceivablesAllowanceForLosses
34300000 usd
CY2023Q2 us-gaap Other Receivables
OtherReceivables
188600000 usd
CY2022Q4 us-gaap Other Receivables
OtherReceivables
180800000 usd
CY2023Q2 ocn Loan Repurchase Asset
LoanRepurchaseAsset
247100000 usd
CY2022Q4 ocn Loan Repurchase Asset
LoanRepurchaseAsset
289900000 usd
CY2023Q2 us-gaap Other Real Estate
OtherRealEstate
18000000.0 usd
CY2022Q4 us-gaap Other Real Estate
OtherRealEstate
9800000 usd
CY2023Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
17400000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
19800000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
8900000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
7700000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5000000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8300000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
14700000 usd
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7000000.0 usd
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
7700000 usd
CY2023Q2 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
6800000 usd
CY2022Q4 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
1500000 usd
CY2023Q2 us-gaap Prepaid Expense Other Noncurrent
PrepaidExpenseOtherNoncurrent
5000000.0 usd
CY2022Q4 us-gaap Prepaid Expense Other Noncurrent
PrepaidExpenseOtherNoncurrent
5000000.0 usd
CY2023Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
2500000 usd
CY2022Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
2600000 usd
CY2023Q2 us-gaap Deposits Assets
DepositsAssets
800000 usd
CY2022Q4 us-gaap Deposits Assets
DepositsAssets
800000 usd
CY2023Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
5800000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
4700000 usd
CY2023Q2 us-gaap Other Assets
OtherAssets
327600000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
364200000 usd
CY2023Q2 us-gaap Senior Notes
SeniorNotes
605000000.0 usd
CY2022Q4 us-gaap Senior Notes
SeniorNotes
599600000 usd
CY2023Q2 ocn Debt Instrument Covenant Compliance Consolidated Tangible Net Worthat Period End
DebtInstrumentCovenantComplianceConsolidatedTangibleNetWorthatPeriodEnd
300000000 usd
CY2023Q2 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
247100000 usd
CY2022Q4 us-gaap Assets Sold Under Agreements To Repurchase Repurchase Liability
AssetsSoldUnderAgreementsToRepurchaseRepurchaseLiability
289900000 usd
CY2023Q2 ocn Remittance Of Advances And Servicing Fees
RemittanceOfAdvancesAndServicingFees
61600000 usd
CY2022Q4 ocn Remittance Of Advances And Servicing Fees
RemittanceOfAdvancesAndServicingFees
64400000 usd
CY2023Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
52600000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
75900000 usd
CY2023Q2 ocn Checks Held For Escheat
ChecksHeldForEscheat
50900000 usd
CY2022Q4 ocn Checks Held For Escheat
ChecksHeldForEscheat
48100000 usd
CY2023Q2 ocn Indemnification Obligations Liability
IndemnificationObligationsLiability
41600000 usd
CY2022Q4 ocn Indemnification Obligations Liability
IndemnificationObligationsLiability
43800000 usd
CY2023Q2 ocn Due To Servicing And Subservicing Investors
DueToServicingAndSubservicingInvestors
41600000 usd
CY2022Q4 ocn Due To Servicing And Subservicing Investors
DueToServicingAndSubservicingInvestors
40100000 usd
CY2023Q2 us-gaap Interest Payable Current
InterestPayableCurrent
17600000 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
13700000 usd
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
14200000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
16600000 usd
CY2023Q2 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
13200000 usd
CY2022Q4 us-gaap Derivative Liabilities Current
DerivativeLiabilitiesCurrent
15700000 usd
CY2023Q2 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
11500000 usd
CY2022Q4 us-gaap Liability For Uncertain Tax Positions Noncurrent
LiabilityForUncertainTaxPositionsNoncurrent
10900000 usd
CY2023Q2 us-gaap Litigation Reserve Noncurrent
LitigationReserveNoncurrent
10200000 usd
CY2022Q4 us-gaap Litigation Reserve Noncurrent
LitigationReserveNoncurrent
42200000 usd
CY2023Q2 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
9200000 usd
CY2022Q4 us-gaap Other Postretirement Defined Benefit Plan Liabilities Noncurrent
OtherPostretirementDefinedBenefitPlanLiabilitiesNoncurrent
9300000 usd
CY2023Q2 us-gaap Hedged Liability Fair Value Hedge
HedgedLiabilityFairValueHedge
9000000.0 usd
CY2022Q4 us-gaap Hedged Liability Fair Value Hedge
HedgedLiabilityFairValueHedge
6000000.0 usd
CY2023Q2 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
6800000 usd
CY2022Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
6200000 usd
CY2023Q2 ocn Servicing Assets Purchase Price Holdback
ServicingAssetsPurchasePriceHoldback
5600000 usd
CY2022Q4 ocn Servicing Assets Purchase Price Holdback
ServicingAssetsPurchasePriceHoldback
13900000 usd
CY2023Q2 us-gaap Loss Contingency Accrual Product Liability Net
LossContingencyAccrualProductLiabilityNet
5300000 usd
CY2022Q4 us-gaap Loss Contingency Accrual Product Liability Net
LossContingencyAccrualProductLiabilityNet
5000000.0 usd
CY2023Q2 ocn Excess Servicing Fees Spread Payable
ExcessServicingFeesSpreadPayable
3800000 usd
CY2022Q4 ocn Excess Servicing Fees Spread Payable
ExcessServicingFeesSpreadPayable
3400000 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
4700000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
3400000 usd
CY2023Q2 us-gaap Other Liabilities
OtherLiabilities
606600000 usd
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
708500000 usd
CY2023Q2 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
2803100000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
8900000 usd
CY2022Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
937800000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Net
DerivativeFairValueOfDerivativeNet
7700000 usd
CY2023Q2 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
2668600000 usd
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
13200000 usd
CY2022Q4 us-gaap Derivative Liability Notional Amount
DerivativeLiabilityNotionalAmount
1371400000 usd
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
15700000 usd
CY2023Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-47400000 usd
CY2022Q2 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
13300000 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-44000000.0 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-18700000 usd
CY2023Q2 us-gaap Interest Expense
InterestExpense
68300000 usd
CY2022Q2 us-gaap Interest Expense
InterestExpense
37900000 usd
us-gaap Interest Expense
InterestExpense
130500000 usd
us-gaap Interest Expense
InterestExpense
75700000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
15500000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
10400000 usd
us-gaap Net Income Loss
NetIncomeLoss
-24700000 usd
us-gaap Net Income Loss
NetIncomeLoss
68400000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7652563 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9257089 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7593391 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9236221 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.02
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.12
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.41
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
15500000 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
10400000 usd
us-gaap Net Income Loss
NetIncomeLoss
-24700000 usd
us-gaap Net Income Loss
NetIncomeLoss
68400000 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7652563 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9257089 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7593391 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9236221 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
115977 shares
CY2022Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0 shares
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
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us-gaap Incremental Common Shares Attributable To Call Options And Warrants
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<div style="margin-bottom:6pt;margin-top:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:6pt;margin-top:9pt;padding-left:72pt;text-indent:-72pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Note 20 – Contingencies</span></div></td></tr></table></div><div style="margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Litigation</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 borrowers, regulatory agencies (discussed further under “Regulatory” below), current or former employees, those brought on behalf of various classes of claimants, and those brought derivatively on behalf of Ocwen against certain current or former officers and directors or others, and those brought under the False Claims Act by private citizens on behalf of the U.S. In addition, we may be a party or potential party to threatened or pending legal proceedings brought by fair-housing advocates, current and former commercial counterparties and market competitors, including, among others, claims related to the sale or purchase of loans, MSRs or other assets, and breach of contract actions, parties on whose behalf we service or serviced mortgage loans, parties who provide ancillary services including property preservation and other post-foreclosure related services, and parties who provide or provided consulting, subservicing, or other services to Ocwen.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 FDCPA, the RESPA, the TILA, 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, federal and local bankruptcy rules, federal and local tax regulations, and state deceptive trade practices laws. Such proceedings include wrongful foreclosure and eviction actions, bankruptcy violation actions, payment misapplication 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 and individual state laws, claims related to our payment, escrow and other processing operations, claims relating to fees imposed on borrowers relating to inspection fees, foreclosure attorneys’ fees, reinstatement fees, foreclosure registration fees, payment processing, payment facilitation or payment convenience fees, claims related to ancillary products marketed and sold to borrowers, claims related to loan modifications and loan assumptions, claims related to call recordings, claims regarding certifications of our legal compliance related to our participation in certain government programs, claims related to improper occupancy inspections, and claims related to untimely recording of mortgage satisfactions. 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 and similar state laws, (2) certain fees we assess on borrowers are improperly assessed and/or marked up improperly in violation of applicable state and federal law, (3) we breached fiduciary duties we purportedly owe to benefit plans due to the discretion we exercise in servicing certain securitized mortgage loans, (4) certain legacy mortgage reinsurance arrangements violated RESPA, and (5) we failed to subservice loans appropriately pursuant to subservicing and other agreements. 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.</span></div><div style="margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, including punitive damages, or where the matters present novel </span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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, liquidity and results of operations.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 $10.2 million at June 30, 2023. We cannot currently estimate the amount, if any, of reasonably possible losses above amounts that have been recorded at June 30, 2023. </span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As previously disclosed, we are subject to individual lawsuits relating to our FDCPA compliance and putative state law class actions based on the FDCPA and similar state statutes. We are currently defending class actions challenging, under state and federal law, our practice of charging borrowers a fee to use certain optional payment methods, including: </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Morris v. PHH Mortg. Corp., et al.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> (S.D. FL), </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Torliatt v. PHH Mortg. Corp., et al.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> (N.D. Ca), </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Thacker v. PHH Mortg. Corp., et al.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> (N.D. WV), </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Forest v. PHH Mortg. Corp., et al.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> (D. RI), </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Williams v. PHH Mortg. Corp., et al.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> (S.D. TX) and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Jones v. PHH Mortg. Corp., et al. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">(D. N.J.). We have reached settlements in five of these class actions. In the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Thacker</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> and </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Torliatt</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> cases, the parties executed settlement agreements which were granted final approval by the Court in November 2022. In the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Morris</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> class action, the parties’ settlement agreement was granted final approval by the Court on June 16, 2023. In the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Williams</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> class action, the Court has granted preliminary approval of the settlement. Finally, we have reached a tentative settlement with the class plaintiffs in the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Forest</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> class action. In February 2023, the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Jones</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> class action was filed in federal court in New Jersey and we have filed a motion to dismiss the complaint.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, we continue to be involved in legacy matters arising prior to Ocwen’s October 2018 acquisition of PHH, including a putative class action filed in 2008 in the United States District Court for the Eastern District of California against PHH and related entities alleging that PHH’s legacy mortgage reinsurance arrangements between its captive reinsurer, Atrium Insurance Corporation, and certain mortgage insurance providers violated RESPA. See </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Munoz v. PHH Mortgage Corp. et al.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (Eastern District of California). In June 2015, the court certified a class of borrowers who obtained loans with private mortgage insurance through PHH’s captive reinsurance arrangement between June 2007 and December 2009. PHH asserted numerous defenses to the merits of the case. Following pre-trial developments in August 2020, the only issues remaining for trial were whether the plaintiffs had standing to bring their claims and whether the reinsurance services provided by PHH’s captive reinsurance subsidiary, Atrium, were actually provided in order for the safe harbor provision of RESPA to apply. In January 2022, the Court denied a motion by the plaintiffs to enter new evidence and a motion by PHH to decertify the class, which motion PHH may renew if the case ultimately goes to trial. Following the entry of this order, at the request of the parties, the Court dismissed all of the plaintiffs’ claims for lack of standing and entered judgment in favor of PHH. The plaintiffs appealed to the United States Court of Appeals for the Ninth Circuit, and on February 24, 2023 that court reversed and remanded for further proceedings. Ocwen will continue to vigorously defend itself. Our current accrual with respect to this matter is included in the $10.2 million legal and regulatory accrual referenced above. At this time, Ocwen is unable to predict the outcome of this lawsuit or the possible loss or range of loss, if any, associated with the resolution of such lawsuit. If our efforts to defend this lawsuit are not successful, our business, reputation, financial condition, liquidity and results of operations could be materially and adversely affected.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ocwen is a defendant in a certified class action in the U.S. District Court in the Eastern District of California where the plaintiffs claim Ocwen marked up fees for property valuations and title searches in violation of California state law. See</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Weiner v. Ocwen Financial Corp., et al</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. In May 2020, the court ruled that plaintiff’s recoverable damages are limited to out-of-pocket costs, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">i.e.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, the amount of marked-up fees actually paid, rather than the entire cost of the valuation that plaintiffs sought. Following further pre-trial developments, the Court scheduled the trial for November 27, 2023. At this time, Ocwen is unable to predict the outcome of this 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. Ocwen intends to vigorously defend against this lawsuit. If our efforts to defend this lawsuit are not successful, our business, financial condition liquidity and results of operations could be materially and adversely affected. Ocwen may have affirmative indemnification rights and/or other claims against third parties related to the allegations in the lawsuit. Although we may pursue these claims, we cannot currently estimate the amount, if any, of recoveries from these third parties.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are currently involved in a dispute with a former subservicing client, HSBC Bank USA, N.A. (HSBC), which filed a complaint in the Supreme Court of the State of New York against PHH. See </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">HSBC Bank USA, N.A. v. PHH Mortgage Corp.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (Supreme Court of the State of New York). HSBC’s claims relate to alleged breaches of agreements entered into under a prior subservicing arrangement and origination assistance agreement. In its complaint, HSBC also asserted a claim for fraud, which </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">was dismissed by the Court. PHH has answered the complaint and has asserted counterclaims against HSBC for breach of contract. We believe we have strong factual and legal defenses to the remaining claims and are vigorously defending the action. Ocwen is currently unable to predict the outcome of this dispute or estimate the size of any loss which could result from a potential resolution reached through litigation or otherwise. </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ocwen has, however, been impleaded as a third-party defendant into five consolidated loan repurchase cases first filed against Nomura Credit &amp; 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, reputation, financial condition, liquidity and results of operations could be adversely affected.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, several RMBS trustees have received notices of events of default alleging material failures by servicers to comply with applicable servicing agreements. Although Ocwen has not been sued by an RMBS trustee in response to an event of default notice, 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 certificate holders, or, under certain circumstances, that the RMBS investors who issue notices of event 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 an event of default notice, nor can we predict at this time the potential loss or range of loss, if any, associated with the resolution of any event of default notice 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, reputation, financial condition, liquidity and results of operations.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Regulatory </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We are subject to a number of ongoing federal and state regulatory examinations, orders, inquiries, subpoenas, civil investigative demands, requests for information and other actions. We may also on occasion be subject to foreign regulatory actions in the countries where we operate outside the U.S. 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.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">CFPB </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In April 2017, the CFPB filed a lawsuit in the federal district court for the Southern District of Florida against Ocwen, Ocwen Mortgage Servicing, Inc. (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 </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 laws prohibiting unfair, deceptive or abusive acts or practices, as well as violations of other 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. The parties participated in mediation in October 2020 and subsequently held additional settlement discussions. However, the parties were unable to reach a resolution of the litigation.</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%">On March 4, 2021, the court issued an order granting in part and reserving ruling in part on Ocwen’s motion for summary judgment. In that order, the court granted Ocwen summary judgment on 9 of 10 counts in the CFPB’s amended complaint, finding that the CFPB’s allegations were barred under the principles of claim preclusion or </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">res judicata</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> to the extent those claims are premised on servicing activity occurring prior to February 26, 2017 and are covered by a 2014 Consent Judgment entered by the United States District Court for the District of Columbia. The CFPB subsequently filed its Second Amended Complaint to remove count 10 as well as allegations in counts 1-9 concerning servicing activity that occurred after February 26, 2017. On April 21, 2021, the court entered final judgment in our favor, denied all pending motions as moot, and closed the case. The CFPB thereafter filed a notice of appeal. On April 6, 2022, the Eleventh Circuit issued its opinion relating to the appeal, largely adopting the district court’s decision precluding the CFPB from bringing claims covered by the National Mortgage Settlement, but vacating and remanding the case back to the district court to determine which, if any, claims are not covered and may still be brought by the CFPB. Neither party sought rehearing of the Eleventh Circuit’s decision. Following briefing and oral argument, on May 2, 2023, the court issued an order granting in full Ocwen’s motion for summary judgment on the remaining 9 counts. In that order, based on a claim by claim analysis, the court found that all of the CFPB’s claims were barred under the principles of res judicata because they were premised on servicing activity covered by the 2014 Consent Judgment referenced above. Also on May 2, 2023, the court entered final judgment in our favor, denied all pending motions as moot, and closed the case. The CFPB did not appeal the court’s order and therefore the case will remain closed. Our prior accrual with respect to this matter was reversed effective June 30, 2023.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">State Licensing and Other Matters</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">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, as well as from state attorneys general, the CFPB and other federal agencies, including the Department of Justice and various inspectors general. For example, we have received requests regarding the charging of certain fees to borrowers (including our practice of charging borrowers a fee to use certain optional payment methods); the post-boarding process to verify loan and payment terms are properly implemented, calculated, and applied; bankruptcy practices; COVID-19-related forbearance and post-forbearance options; and Homeowner Assistance Fund participation and implementation. 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, and engage with us on various matters. 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. </span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Loan Put-Back and Related Contingencies</span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have exposure to representation, warranty and indemnification obligations relating to our lending, loan sales and securitization activities, and servicing practices. We receive origination representations and warranties from our network of approved originators in connection with loans we purchased through our correspondent lending channel. To the extent that we have recourse against a third-party originator, we may recover part or all of any loss we may incur. We do not provide or assume any origination representations and warranties in connection with our MSR purchases.</span></div><div style="margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At June 30, 2023 and June 30, 2022, we had outstanding representation and warranty repurchase demands of $39.1 million UPB (142 loans) and $51.9 million UPB (270 loans), respectively. We review each demand and monitor through resolution, primarily through rescission, loan repurchase or make-whole payment. </span></div><div style="margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the changes in our liability for representation and warranty obligations and similar indemnification obligations:</span></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.707%"><tr><td style="width:1.0%"></td><td style="width:70.894%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.536%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.533%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.537%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Six Months Ended June 30,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2023</span></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Beginning balance (1)</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">41.6 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">49.4 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Provision for (reversal of) representation and warranty obligations</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.1 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2.2)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">New production liability</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">0.6 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.4 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Charge-offs and other (2) </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(6.2)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5.9)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Ending balance (1)</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">38.1 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">42.7 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:3pt;padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.52pt">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.</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:7.52pt">Includes principal and interest losses realized in connection with repurchased loans, make-whole, indemnification and fee payments and settlements net of recoveries, if any.</span></div><div style="margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We believe that it is reasonably possible that losses beyond amounts currently recorded for potential representation and warranty obligations and other claims described above could occur, and such losses could have an adverse impact on our results of operations, financial condition or cash flows. However, based on currently available information, we are unable to estimate a range of reasonably possible losses above amounts that have been recorded at June 30, 2023</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:400;line-height:120%">.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Other</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ocwen, on its own behalf and on behalf of various mortgage loan investors, has engaged in a variety of activities to seek payments from mortgage insurers for unpaid claims, including claims where the mortgage insurers paid less than the full claim amount. Ocwen believes that many of the actions by mortgage insurers were in violation of the applicable insurance policies and insurance law. In some cases, Ocwen entered into tolling agreements, initiated arbitration or litigation, engaged in settlement discussions, or took other similar actions. Ocwen has now settled or otherwise resolved all of its pending mortgage insurance litigation matters. </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We may, from time to time, have affirmative indemnification and other claims against service providers, parties from whom we purchased MSRs or other assets, investors or other parties. Although we pursue these claims, we cannot currently estimate the amount, if any, of further recoveries. Similarly, from time to time, indemnification and other claims are made against us by parties to whom we sold MSRs or other assets or by parties on whose behalf we service mortgage loans. We cannot currently estimate the amount, if any, of reasonably possible loss above amounts recorded.</span></div>
CY2023Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
10200000 usd
CY2023Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
10200000 usd
CY2023Q2 ocn Number Of Cases
NumberOfCases
5 case
CY2021Q1 ocn Number Of Counts Granted Summary Judgement
NumberOfCountsGrantedSummaryJudgement
9 count
CY2023Q2 ocn Warranty Repurchase Demands Unpaid Principal Balance
WarrantyRepurchaseDemandsUnpaidPrincipalBalance
39100000 usd
CY2023Q2 ocn Warranty Repurchase Demands Number Of Loans
WarrantyRepurchaseDemandsNumberOfLoans
142 loan
CY2022Q2 ocn Warranty Repurchase Demands Unpaid Principal Balance
WarrantyRepurchaseDemandsUnpaidPrincipalBalance
51900000 usd
CY2022Q2 ocn Warranty Repurchase Demands Number Of Loans
WarrantyRepurchaseDemandsNumberOfLoans
270 loan
CY2022Q4 ocn Representation Warranty And Compensatory Fees Obligations
RepresentationWarrantyAndCompensatoryFeesObligations
41600000 usd
CY2021Q4 ocn Representation Warranty And Compensatory Fees Obligations
RepresentationWarrantyAndCompensatoryFeesObligations
49400000 usd
ocn Provision For Representation And Warranty Obligations
ProvisionForRepresentationAndWarrantyObligations
2100000 usd
ocn Provision For Representation And Warranty Obligations
ProvisionForRepresentationAndWarrantyObligations
-2200000 usd
ocn Indemnification Obligations Liability Reserves
IndemnificationObligationsLiabilityReserves
600000 usd
ocn Indemnification Obligations Liability Reserves
IndemnificationObligationsLiabilityReserves
1400000 usd
ocn Indemnification Obligations Liability Charge Offs
IndemnificationObligationsLiabilityChargeOffs
6200000 usd
ocn Indemnification Obligations Liability Charge Offs
IndemnificationObligationsLiabilityChargeOffs
5900000 usd
CY2023Q2 ocn Representation Warranty And Compensatory Fees Obligations
RepresentationWarrantyAndCompensatoryFeesObligations
38100000 usd
CY2022Q2 ocn Representation Warranty And Compensatory Fees Obligations
RepresentationWarrantyAndCompensatoryFeesObligations
42700000 usd

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