2.4.0.8050 - Disclosure - NOTE 16 OTHER LIABILITIES (Tables)truefalsefalse1false
falsefalseContext_6ME__30-Jun-2013http://www.sec.gov/CIK0000873860duration2013-01-01T00:00:002013-06-30T00:00:001true
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2ocn_ScheduleOfOtherLiabilitiesTableTextBlockocn_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel| 1falsefalsefalse00<p style="font: 10pt/normal 'times new roman', times, serif; margin: 10pt 0px; color: #000000; text-transform: none; text-indent: 0.25in; letter-spacing: normal; word-spacing: 0px; white-space: normal; -webkit-text-stroke-width: 0px;"><font style="font-size: 10pt;"></font> </p>
<table style="font: 10pt/normal 'times new roman', times, serif; width: 100%; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; border-collapse: collapse; font-size-adjust: none; font-stretch: normal; -webkit-text-stroke-width: 0px;" cellspacing="0" cellpadding="0">
<tr style="vertical-align: bottom;">
<td style="text-align: center; text-indent: -8.65pt; padding-left: 8.65pt;" nowrap="nowrap"> </td>
<td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"> </td>
<td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" nowrap="nowrap">June 30,<br />2013</td>
<td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"> </td>
<td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"> </td>
<td style="text-align: center; font-weight: bold; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" nowrap="nowrap">December 31,<br />2012</td>
<td style="padding-bottom: 1pt; font-weight: bold;" nowrap="nowrap"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceecc;">
<td style="width: 1179.46px; text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Liability for indemnification obligations (1)</td>
<td style="width: 32px;"> </td>
<td style="width: 16px; text-align: left;">$</td>
<td style="width: 126px; text-align: right;">220,041</td>
<td style="width: 16px; text-align: left;"> </td>
<td style="width: 31px;"> </td>
<td style="width: 15px; text-align: left;">$</td>
<td style="width: 125px; text-align: right;">38,140</td>
<td style="width: 15px; text-align: left;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Accrued expenses</td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">103,742</td>
<td style="text-align: left;"> </td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">70,831</td>
<td style="text-align: left;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceecc;">
<td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Amount due seller for purchase price adjustments – ResCap Acquisition</td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">69,696</td>
<td style="text-align: left;"> </td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">—</td>
<td style="text-align: left;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Liability for certain foreclosure matters (2)</td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">66,431</td>
<td style="text-align: left;"> </td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">13,602</td>
<td style="text-align: left;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceecc;">
<td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Checks held for escheat</td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">25,448</td>
<td style="text-align: left;"> </td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">33,225</td>
<td style="text-align: left;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Payable to servicing and subservicing investors (3)</td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">23,545</td>
<td style="text-align: left;"> </td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">9,973</td>
<td style="text-align: left;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceecc;">
<td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Liability for selected tax items</td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">22,338</td>
<td style="text-align: left;"> </td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">22,702</td>
<td style="text-align: left;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Due to related parties (4)</td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">19,132</td>
<td style="text-align: left;"> </td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">45,034</td>
<td style="text-align: left;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceecc;">
<td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Servicing liabilities (5)</td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">11,704</td>
<td style="text-align: left;"> </td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">9,830</td>
<td style="text-align: left;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Accrued interest payable</td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">8,874</td>
<td style="text-align: left;"> </td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">5,410</td>
<td style="text-align: left;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceecc;">
<td style="text-align: left; text-indent: -8.65pt; padding-left: 8.65pt;">Derivatives, at fair value (6)</td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">7,064</td>
<td style="text-align: left;"> </td>
<td> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;">18,658</td>
<td style="text-align: left;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-indent: -8.65pt; padding-left: 8.65pt;">Other</td>
<td style="padding-bottom: 1pt;"> </td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">58,613</td>
<td style="text-align: left; padding-bottom: 1pt;"> </td>
<td style="padding-bottom: 1pt;"> </td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;"> </td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 1pt; border-bottom-style: solid;">23,861</td>
<td style="text-align: left; padding-bottom: 1pt;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceecc;">
<td style="text-indent: -8.65pt; padding-bottom: 2.5pt; padding-left: 8.65pt;"> </td>
<td style="padding-bottom: 2.5pt;"> </td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;">$</td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;">636,628</td>
<td style="text-align: left; padding-bottom: 2.5pt;"> </td>
<td style="padding-bottom: 2.5pt;"> </td>
<td style="text-align: left; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;">$</td>
<td style="text-align: right; border-bottom-color: black; border-bottom-width: 2.5pt; border-bottom-style: double;">291,266</td>
<td style="text-align: left; padding-bottom: 2.5pt;"> </td>
</tr>
</table>
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<td style="width: 0px;"></td>
<td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(1)</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">The balance includes origination representation and warranty obligations and compensatory fees for foreclosures that may ultimately exceed investor timelines. These obligations were primarily assumed in connection with the Ally MSR Transaction, the ResCap Acquisition and the Homeward Acquisition. See Note 4</font> <font style="font-size: 10pt;">– Business Acquisitions and Note 9 – Mortgage Servicing for additional information.</font></td>
</tr>
</table>
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<td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(2)</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">The balance represents a liability established in connection with our ongoing discussions with the Multi-State Mortgage Committee of the Conferences of State Bank Supervisors (MMC), Consumer Finance Protection Bureau (CFPB) and state Attorneys General in connection with certain foreclosure related matters. We recognized $52.8 million of expense in Professional services in the second quarter of 2013 in establishing the liability. We recognized the remaining $13.6 million of the liability as an adjustment to the initial purchase price allocation related to the Homeward Acquisition. We applied this measurement period adjustment retrospectively to our Consolidated Balance Sheet at December 31, 2012 with an offsetting increase in goodwill. See Note 24 – Commitments and Contingencies for additional information.</font></td>
</tr>
</table>
<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; -webkit-text-stroke-width: 0px;"> </p>
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<td style="width: 0px;"></td>
<td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(3)</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">The balance represents amounts due to investors in connection with loans we service under servicing and subservicing agreements.</font></td>
</tr>
</table>
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<td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(4)</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">See Note 22 – Related Party Transactions for additional information.</font></td>
</tr>
</table>
<p style="font: 10pt/normal 'times new roman', times, serif; margin: 0px; color: #000000; text-transform: none; text-indent: 0px; letter-spacing: normal; word-spacing: 0px; white-space: normal; -webkit-text-stroke-width: 0px;"> </p>
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<td style="width: 0px;"></td>
<td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(5)</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">During the six months ended June 30, 2013 and 2012, amortization of servicing liabilities exceeded the amount of charges we recognized to increase our servicing liability obligations by $0.3 million and $0.9 million, respectively. Amortization of mortgage servicing rights is reported net of this amount in the unaudited Consolidated Statement of Operations.</font></td>
</tr>
</table>
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<td style="width: 0px;"></td>
<td style="width: 0.25in; text-align: left;"><font style="font-size: 10pt;">(6)</font></td>
<td style="text-align: left;"><font style="font-size: 10pt;">See Note 18 – Derivative Financial Instruments and Hedging Activities for additional information.</font></td>
</tr>
</table>
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