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Note 8 MORTGAGE SERVICING (Detail) - (Table 2) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Balance at December 31, $ 293,152 $ 193,985 $ 117,802
Fair value at end of year 743,830 340,015 237,407
Purchases:      
Acquisitions (69,287)    
Servicing transfers and adjustments (4)   (29)
Decrease in impairment valuation allowance (88) 574 90
Amortization (3) (74,171) [1] (45,721) [1] (31,627) [1]
Balance at December 31, 676,712 293,152 193,985
HomEq Acquisition [Member]
     
Purchases:      
Acquisitions     84,324
Litton Acquisition [Member]
     
Purchases:      
Acquisitions   144,314  
Homeward Acquisition [Member]
     
Purchases:      
Acquisitions 275,844 [2]    [2]    [2]
MSR Acquistions [Member]
     
Purchases:      
Acquisitions $ 181,979 [3]    [3] $ 23,425 [3]
[1] In the Consolidated Statement of Operations, Amortization of mortgage servicing rights is reported net of the amortization of servicing liabilities and includes the amount of charges we recognized to increase servicing liability obligations.
[2] See Note 2 for additional information regarding the acquisition of MSRs from Homeward.MSR asset acquisitions for 2012 include:
[3] MSR asset acquisitions for 2012 include: On April 2, 2012, we completed an acquisition from Saxon Mortgage Services, Inc. (Saxon) of an MSR portfolio of approximately $22.2 billion in UPB of residential mortgage loans, approximately $9.9 billion of which Ocwen had previously subserviced, and approximately $1.2 billion of associated servicing advances (the 2012 Saxon MSR Transaction). To finance the 2012 Saxon MSR Transaction, we utilized a combination of available cash and two new two-year servicing advance facilities. On April 2, 2012, we also completed an acquisition of MSRs from JPMorgan Chase Bank, N.A. (JPMCB) which includes servicing rights for non-prime loans with a UPB of approximately $8.1 billion (the JPMCB MSR Transaction) and $557,184 of servicing advances. Ocwen financed the purchase price through available cash and an existing servicing advance facility. On May 31, 2012, we completed the acquisition of MSRs from Aurora Bank FSB (Aurora) on a portfolio of small-balance commercial mortgage loans with a total UPB of $1.8 billion and $52,911 of servicing advances. On June 11, 2012, we purchased residential MSRs from Bank of America, N.A. (BANA) with respect to mortgage loans with a UPB of approximately $10.1 billion owned by Freddie Mac. We entered into a new servicing advance facility to finance a portion of the related servicing advances acquired in the transaction. At December 31, 2012, the acquired MSRs, which had a carrying value of $58,472, were pledged as collateral for the promissory note used to finance the purchase. On July 2 and 16, 2012, we closed on the acquisitions of MSR portfolios totaling approximately $316 million in UPB of residential mortgage loans owned by Fannie Mae and Freddie Mac. On September 4, 2012, we purchased an additional MSR portfolio of approximately $2.2 billion in UPB of residential mortgage loans owned by Fannie Mae. We boarded these loans on October 1, 2012.