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Interest Expense
12 Months Ended
Dec. 31, 2015
Other Income and Expenses [Abstract]  
Interest Expense
Note 19 — Interest Expense
The following table presents the components of interest expense for the years ended December 31:
 
2015
 
2014
 
2013
Financing liabilities (1) (2)
$
292,306

 
$
371,852

 
$
228,985

Other secured borrowings
91,391

 
82,837

 
81,851

Match funded liabilities
65,248

 
61,576

 
75,979

6.625% Senior Unsecured Notes
26,259

 
15,595

 

Other
7,169

 
9,897

 
8,771

 
$
482,373

 
$
541,757

 
$
395,586

(1)
Includes interest expense related to financing liabilities recorded in connection with the NRZ/HLSS Transactions as indicated in the table below:

2015

2014
2013
Servicing fees collected on behalf of NRZ/HLSS
$
694,833

 
$
736,122

$
633,377

Less: Servicing fee retained by Ocwen
355,527

 
358,053

317,723

Net servicing fees remitted to NRZ/HLSS
339,306

 
378,069

315,654

Less: Reduction in financing liability
70,513

 
17,374

87,068

Interest expense on NRZ/HLSS financing liability
$
268,793


$
360,695

$
228,586


The reduction in the financing liability for 2015 and 2014 does not include reimbursements to NRZ/HLSS for the loss of servicing revenues when we were terminated as servicer and where the related Rights to MSRs had been sold to HLSS.
(2)
Includes $14.3 million of fees incurred in 2015 in connection with our agreement to compensate NRZ/HLSS for certain increased costs associated with its servicing advance financing facilities that are the direct result of a downgrade of our S&P servicer rating.
Interest expense that we expect to be paid on the HMBS-related borrowings is included with net fair value gains in Other revenues.