Ocwen financial corporation (OCN)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09
Cash flows from operating activities
Net loss

-142,125

-70,596

-128,457

-199,375

-246,712

-469,555

310,418

180,923

78,323

37,992

272

Adjustments to reconcile net loss to net cash provided by operating activities:
Servicing Asset at Fair Value, Changes in Fair Value Resulting from Changes in Valuation Inputs

120,876

153,457

52,962

124,029

-

-

-

-

-

-

-

Goodwill impairment loss

-

-

-

-

-

420,201

0

0

-

-

-

Amortization of mortgage servicing rights

-

-

-

-

99,194

250,375

282,781

72,897

42,996

31,455

32,228

Write-off of investment in commercial real estate property

-

-

-

-

-

-

-

-

-

3,000

-

MSR valuation adjustments, net

-

-

-

-

98,173

22,068

-30,816

-30

0

-90

-670

Impairment charge (reversal) on mortgage servicing rights

-

-

-

-

17,341

0

0

-

-

-

-

Gain on sale of MSRs, net

453

1,325

10,537

8,492

83,921

0

0

-

-

-

-

Loss on deconsolidation of variable interest entities

-

-

-

-

-

-

-

3,167

0

-

-

Equity in losses (earnings) of unconsolidated entities

-

-

-

-

-

-

-

-

-

1,371

-2,933

Realized and unrealized losses on derivative financial instruments

-

-

-

-

-8,419

-2,643

-14,336

-4,294

-7,426

133

-

Provision for bad debts

34,867

49,180

76,828

81,079

101,226

84,751

34,816

5,030

852

-

-

Depreciation

31,911

27,202

26,886

25,338

19,159

21,910

24,245

5,720

4,160

7,512

6,366

Loss on write-off of fixed assets, net

0

0

8,502

0

0

-

-

-

-

-

-

Amortization of debt discount

-

-

-

-

-

1,318

-

-

8,853

5,389

5,172

Amortization of debt issuance costs

3,170

2,921

2,738

25,662

22,664

5,139

4,395

3,718

9,764

2,086

-

Gain (Loss) on Repurchase of Debt Instrument

5,099

0

0

-

-

-

-

-

-

-

-

Realized and unrealized losses on derivative financial instruments, net

-

-

-

-

-

-

-

-

-

-

-588

Gain on extinguishment of debt

-

-

-

-

-

2,609

-8,681

-2,167

3,651

-152

-3,015

Provision for (reversal of) valuation allowance on deferred tax assets

-32,470

23,347

29,979

-15,639

-97,069

-3,601

-15,764

-

-

-

-

Decrease (increase) in deferred tax assets other than provision for valuation allowance

29,350

-20,058

-30,710

11,119

28,136

-34,241

36,889

-62,393

-29,898

-7,764

40,758

Equity-based compensation expense

2,697

2,366

5,624

5,181

7,291

10,729

5,648

2,934

-

-

-

(Gain) loss on valuation of financing liability

152,986

-19,269

41,282

0

0

-

-

-

-

-

-

(Gain) loss on trading securities

215

527

-6,756

335

650

-

-

-

-

-

-

Net gain on valuation of mortgage loans held for investment and HMBS-related borrowings

55,869

18,698

23,733

26,016

7,661

6,787

-

-

-

-

-

Business Combination, Bargain Purchase, Gain Recognized, Amount

-381

64,036

0

0

-

-

-

-

-

-

-

Gain on loans held for sale, net

38,300

32,722

53,209

65,649

103,112

110,300

-

-

-

-

-

Reversal of valuation allowance on discontinued operations

-

-

-

-

-

-

-

-

-

-

-1,227

Gain on disposition of subsidiaries

-

-

-

-

-

-

-

-

-

-

-4,749

Loss on trading securities

-

-

-

-

-

-

-

-

-

-7,968

11,187

Gain on loans held for sale, net

-

-

-

-

-

-

121,694

215

-2

-5,865

-11,132

Origination and purchase of loans held for sale

1,488,974

1,715,190

3,695,163

6,090,432

5,000,681

7,430,340

9,678,038

172,262

0

-

-

Net cash provided by trading activities

-

-

-

-

-

-

-

-

-

239,555

3,700

Proceeds from sale and collections of loans held for sale

1,380,138

1,625,116

3,662,065

5,969,812

5,125,203

7,345,730

9,468,627

243,434

1,468

1,771

4,576

Changes in assets and liabilities:
Changes in assets and liabilities:
Decrease in advances, net

-105,052

-258,899

-330,052

-452,435

-531,313

-291,989

-295,108

-1,443,643

-842,545

447,219

227,271

Decrease in receivables and other assets, net

-126,881

-144,310

-199,209

-128,398

-46,463

37,394

-224,543

53,870

36,452

-48,468

-32,846

Increase (decrease) in servicer liabilities

-

-

-

-

-

-

-

-

-1,196

-36,180

-97,079

Increase (decrease) in other liabilities

-72,182

-69,207

-100,650

-7,143

-109,407

-94,508

70,336

-2,593

-15,470

24,637

19,387

Other, net

-6,922

3,986

7,135

2,216

-11,552

9,322

-7,842

14,504

12,627

6,987

4,212

Net cash provided by operating activities

151,940

272,578

409,021

421,228

581,683

352,524

884,419

1,815,854

982,145

727,544

206,646

Cash flows from investing activities
Proceeds from sale of advance financing subsidiary and special purpose entity

-

-

-

-

-

-

-

76,334

0

-

1,584

Proceeds from sale of beneficial interest in consolidated variable interest entities

-

-

-

-

-

-

-

3,020

0

-

-

Origination of loans held for investment

1,026,154

920,476

1,277,615

1,098,758

1,008,065

816,881

609,555

0

0

-

-

Principal payments received on loans held for investment

558,720

400,521

444,388

243,596

151,107

86,234

5,886

0

0

-

-

Net cash acquired in the acquisition of PHH

0

64,692

0

0

-

-

-

79,511

23,791

-

-

Restricted cash acquired in the acquisition of PHH

0

38,813

0

0

-

-

-

-

-

-

-

Purchase of MSRs

145,668

5,433

1,658

17,356

12,355

22,488

987,663

180,039

0

23,425

10,241

Proceeds from sale of MSRs

4,984

7,276

4,234

47,044

686,838

287

34,754

0

0

-

-

Acquisition of advances in connection with the purchase of MSRs

1,457

-

-

-

-

-

-

-

-

-

-

Acquisition of advances in connection with the purchase of mortgage servicing rights

-

-

-

-

-

85,521

2,588,739

1,920,437

0

528,882

-

Acquisition of advances in connection with the purchase of loans

-

-

-

-

-

60,482

0

0

-

-

-

Proceeds from sale of advances

14,186

33,792

9,446

103,017

486,311

1,054

3,842,537

2,824,645

0

-

-

Issuance of automotive dealer financing notes

0

19,642

174,363

100,722

0

0

-

-

-

-

-

Collections of automotive dealer financing notes

0

52,598

162,965

65,688

0

0

-

-

-

-

-

Net proceeds from sale of diversified fee-based businesses to Altisource Portfolio Solutions, SA

-

-

-

-

-

-

210,793

0

0

-

-

Additions to premises and equipment

1,954

9,016

9,053

33,518

37,487

11,430

28,915

19,217

3,822

3,821

3,700

Proceeds from sale of real estate

7,548

9,546

3,147

11,069

-

-

-

-

-

-

-

Investment in unconsolidated entities

-

-

-

-

-

-

-

-

-

-

62

Investment in unconsolidated entities

-

-

-

-

-

-

-

-

15,340

-

-6,658

Distributions of capital from unconsolidated entities

-

-

-

-

-

-

1,300

3,226

2,415

3,542

-

Proceeds from sales of real estate

-

-

-

-

-

-

-

-

-

2,434

2,600

Decrease in restricted cash  for securitization investors

-

-

-

-

-

-

-

-

-

-1,028

-

Principal payments received on loans  restricted for securitization investors

-

-

-

-

-

-

-

-

-

5,616

-

Proceeds from sale of investments in affordable housing projects

-

-

-

-

-

-

-

-

-

6,036

-

Other, net

-2,357

-2,464

707

11,679

-14,021

-6,461

1,459

449

-8,329

-888

-

Net cash used in investing activities

-587,438

-344,865

-839,216

-791,619

280,370

-958,247

-2,414,978

262,870

-2,655,118

-1,703,706

-3,161

Cash flows from financing activities
Repayment of advance match funded liabilities, net

99,175

220,334

282,379

303,052

506,198

274,567

167,931

1,665,330

-1,076,422

-1,016,838

491,416

Proceeds from mortgage loan warehouse facilities and other secured borrowings

3,137,326

2,991,261

7,215,264

9,242,671

7,170,831

5,677,291

9,633,914

204,784

563,500

448,316

-

Repayment of mortgage loan warehouse facilities and other secured borrowings

25,433

66,750

36,750

-

-

-

-

-

-

9,346

151,976

Repayments of mortgage loan warehouse facilities and other secured borrowings

2,875,377

3,350,648

7,395,013

9,463,063

8,249,742

5,809,239

8,804,558

822,137

281,768

263,442

-

Repayment and repurchase of senior notes

-131,791

-18,482

0

0

-

-

-

-

-

-

-

Proceeds from issuance of senior notes

-

-

-

-

-

350,000

0

0

-

-

-

Proceeds from issuance of additional senior secured term loan (SSTL)

119,100

-

-

-

-

-

-

-

-

-

102,106

Payment of debt issuance costs related to SSTL

2,813

-

841

11,136

23,480

6,835

25,758

1,052

13,147

10,689

-

Proceeds from sale of MSRs accounted for as a financing

0

279,586

54,601

0

0

123,551

447,755

320,381

0

-

-

Proceeds from sale of Home Equity Conversion Mortgages (HECM, or reverse mortgages) accounted for as a financing (HMBS-related borrowings)

962,113

948,917

1,281,543

1,086,795

1,024,361

783,009

604,991

0

0

-

-

Proceeds from sale of advances accounted for as a financing

-

-

-

-

-

88,981

0

0

-

-

-

Repayment of HMBS-related borrowings

549,600

391,985

418,503

230,045

153,016

-

-21,244

18,650

11,524

3,157

43,751

Issuance of common stock

0

0

13,913

0

0

-

-

-

354,445

-

335,129

Repurchase of common stock

-

-

-

5,890

4,142

382,487

217,903

0

0

-

11,000

Capital distribution to non-controlling interest

0

822

0

0

-

-

-

-

-

-

-

Purchase of non-controlling interest

0

1,188

0

0

-

-

-

-

-

-

-

Repayment of investment line

-

-

-

-

-

-

-

-

-

156,968

-

Redemption of 10.875% Capital Securities

-

-

-

-

-

-

-

26,829

0

11,659

-

Payment of preferred stock dividends

-

-

-

-

-

1,163

5,115

0

0

-

-

Redemption of debt securities

-

-

-

-

-

-

-

-

-

-

37,289

Proceeds from exercise of common stock options

-

-

-

-

-

-

2,302

6,005

1,483

3,146

3,358

Distribution of cash in connection with the spin-off of Altisource Portfolio Solutions

-

-

-

-

-

-

-

-

-

-

20,028

Other, net

-3,522

-2,818

-1,478

-49

7,132

8,143

-

-

-

-

1,276

Net cash used in financing activities

530,828

166,737

430,357

316,231

-734,254

556,684

1,488,941

-2,002,828

1,689,411

1,013,039

-313,591

Net decrease in cash, cash equivalents and restricted cash

95,330

94,450

162

-

-

-

-

-

-

-

-

Net decrease in cash and restricted cash

-

-

-

-54,160

127,799

-49,039

-41,618

75,896

16,438

36,877

-110,106

Supplemental non-cash investing and financing activities:
Issuance of common stock in connection with litigation settlement

0

5,719

1,937

0

0

-

-

-

-

-

-

New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

16

82,043

-

-

-

-

-

-

-

-

-

Lease liability

66,247

-

-

-

-

-

-

-

-

-

-

Interest paid

111,144

100,165

128,391

-

-

-

-

-

-

-

-

Interest paid

-

-

-

389,638

470,724

560,208

395,758

219,825

128,947

88,354

56,692

Income tax payments (refunds), net

4,075

10,957

-23,501

19,715

5,706

38,293

14,747

37,199

29,461

6,756

52,910

Supplemental non-cash investing and financing activities
Loans held for investment

0

28,373

0

0

-

-

-

-

-

-

-

Other financing liabilities

0

26,643

0

0

-

-

-

-

-

-

-

Transfers from loans held for investment to loans held for sale

1,892

1,038

3,803

0

-

-

-

-

-

-

-

Transfers from loans held for investment to loans held for sale

-

-

-

-

0

110,874

-

-

-

-

-

Transfers of loans held for sale to loans held for investment

-

-

-

-

-

-

0

0

-

-

-

Transfers of loans held for sale to real estate owned (REO)

6,636

4,241

875

7,675

18,594

8,808

4,775

999

-

-

-

Exchange of senior unsecured notes for senior secured notes

-

-

-

346,878

0

0

-

-

-

-

-

Supplemental business acquisition information
Conversion of Series A preferred stock to common stock

-

-

-

-

-

62,000

100,000

0

0

-

-

Conversion of 3.25% Convertible Notes to common stock

-

-

-

-

-

-

-

56,410

0

-

-

Cash

-

-

-

-

-

-

-

79,511

-

-

-

Loans held for sale

-

-

-

-

-

-

-

558,721

0

-

-

Advances

-

-

-

-

-

-

1,786,409

2,266,882

-

-

-

Mortgage servicing rights

-

-

-

-

-

-

401,314

360,344

-

-

-

Other Assets

-

-

-

-

-

-

-

-

-

-7,957

-

Deferred tax assets

-

-

-

-

-

-

-

52,103

0

-

-

Premises and equipment

-

-

-

-

-

-

16,423

12,515

3,386

-6,728

-

Goodwill

-

-

-

-

-

-

211,419

345,936

57,430

-12,810

-

Debt service accounts

-

-

-

-

-

-

-

69,287

0

-

-

Issuance of preferred stock as consideration

-

-

-

-

-

-

-

-162,000

0

-

-

Fair value of assets acquired

262

1,192,155

0

0

-

-

-

-

-

-

-

Fair value of liabilities assumed

643

769,723

0

0

-

-

-

-

-

-

-

Total identifiable net assets acquired

-381

422,432

0

0

-

-

-

-

-

-

-

Bargain purchase gain

-381

64,036

0

0

-

-

-

-

-

-

-

Receivables and other assets

-

-

-

-

-

-

2,989

27,765

4,888

-

-

Fair value of assets acquired

-

-

-

-

-

-

2,418,554

3,773,064

-

-

-

Match funded liabilities

-

-

-

-

-

-

-

-1,997,459

0

-

-

Other secured borrowings

-

-

-

-

-

-

-

864,969

0

-

-

Servicing liabilities

-

-

-

-

-

-

-

-

8,972

-

-

Accrued expenses and other liabilities

-

-

-

-

-

-

74,625

-145,812

22,483

4,001

-

Business Combination, Consideration Transferred

0

358,396

0

0

-

-

2,343,929

764,824

2,670,491

-

-

Other Payments to Acquire Businesses

0

325,000

0

0

-

-

-

-

-

-

-

Payments to Acquire Businesses, Gross

0

33,400

0

0

-

-

2,289,709

603,724

-

-

-

Payments to acquire business

-

-

-

-

-

-

-

-

-

1,167,122

-

Distribution of capital from unconsolidated entities

-

-

-

-

-

6,572

-

-

-

-

-

Proceeds from sale of premises and equipment

-

-

-

-

-

-

252

-

-

-

-

Cash acquired from PHH

0

98,088

0

0

-

-

-

-

23,791

-

-

Net cash acquired in the acquisition of PHH

0

64,692

0

0

-

-

-

-

-

-

-

Restricted cash and equivalents:
Net cash paid

-

-

-

-

-

-

2,289,709

524,213

-

-

-

Net cash paid

-

-

-

-

-

-

-

-

-

1,167,122

-

Net assets distributed in connection with the spin-off of Altisource Portfolio Solutions, excluding cash

-

-

-

-

-

-

-

-

-

-

52,118

Real estate acquired through foreclosure

-

-

-

-

-

-

-

-

-

-

11,473

Net assets of advance financing subsidiary and special purpose entity

-

-

-

-

-

-

-

-

-

-

1,584

Fair Value Election For Assets Previously Using Amortization Method
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification

0

82,043

0

-

-

-

-

-

-

-

-

Property, Plant and Equipment
Right-of-use asset

66,231

-

-

-

-

-

-

-

-

-

-