Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Details)

v3.10.0.1
SEGMENT REPORTING (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Dec. 31, 2016
Segment Reporting Information [Line Items]            
Interest income $ 403,805 $ 471,952 $ 787,378 $ 764,490    
Interest expense 133,916 115,157 258,303 213,386    
Net interest income (expense) 269,889 356,795 529,075 551,104    
Impairment 16,289 25,886 41,966 45,908    
Servicing revenue, net 146,193 170,851 363,429 211,453    
Other income (loss) (96,812) 57,847 167,712 54,153    
Operating expenses 119,753 139,360 227,570 207,801    
Income (Loss) Before Income Taxes 183,228 420,247 790,680 563,001    
Income tax expense (benefit) (2,608) 82,844 (9,520) 88,440    
Net Income (Loss) 185,836 337,403 800,200 474,561    
Noncontrolling interests in income (loss) of consolidated subsidiaries 11,078 15,671 21,189 31,451    
Net income (loss) attributable to common stockholders 174,758 321,732 779,011 443,110    
Investments 17,828,271   17,828,271      
Cash and cash equivalents 193,236   193,236      
Restricted cash 161,441   161,441   $ 150,252  
Other assets 4,760,783   4,760,783      
Total assets 22,943,731   22,943,731   22,213,562  
Debt 15,464,910   15,464,910   15,746,530  
Other liabilities 1,679,897   1,679,897      
Total liabilities 17,144,807   17,144,807   17,417,400  
Total equity 5,798,924 4,618,958 5,798,924 4,618,958 4,796,162 $ 3,468,177
Noncontrolling interests in equity of consolidated subsidiaries 90,131   90,131   105,957  
Total New Residential stockholders’ equity 5,708,793   5,708,793   $ 4,690,205  
Investments in equity method investees 216,854   216,854      
Excess MSRs            
Segment Reporting Information [Line Items]            
Interest income 11,384 18,128 20,743 49,546    
Interest expense 2,470 9,005 6,959 19,077    
Net interest income (expense) 8,914 9,123 13,784 30,469    
Impairment 0 0 0 0    
Servicing revenue, net 0 0 0 0    
Other income (loss) (2,973) (14,219) (4,862) (13,015)    
Operating expenses 14 112 75 198    
Income (Loss) Before Income Taxes 5,927 (5,208) 8,847 17,256    
Income tax expense (benefit) 0 0 0 0    
Net Income (Loss) 5,927 (5,208) 8,847 17,256    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0    
Net income (loss) attributable to common stockholders 5,927 (5,208) 8,847 17,256    
Investments 654,333   654,333      
Cash and cash equivalents 489   489      
Restricted cash 3,718   3,718      
Other assets 3,617   3,617      
Total assets 662,157   662,157      
Debt 197,563   197,563      
Other liabilities 1,140   1,140      
Total liabilities 198,703   198,703      
Total equity 463,454   463,454      
Noncontrolling interests in equity of consolidated subsidiaries 0   0      
Total New Residential stockholders’ equity 463,454   463,454      
Investments in equity method investees 159,034   159,034      
MSRs            
Segment Reporting Information [Line Items]            
Interest income 167,754 2,535 334,272 2,560    
Interest expense 46,834 10,600 90,945 11,587    
Net interest income (expense) 120,920 (8,065) 243,327 (9,027)    
Impairment 0 0 0 0    
Servicing revenue, net 146,193 170,851 363,429 211,453    
Other income (loss) (118,334) 5,596 153,443 5,809    
Operating expenses 50,111 59,318 102,389 79,041    
Income (Loss) Before Income Taxes 98,668 109,064 657,810 129,194    
Income tax expense (benefit) 0 (10,666) (6,729) (11,945)    
Net Income (Loss) 98,668 119,730 664,539 141,139    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0    
Net income (loss) attributable to common stockholders 98,668 119,730 664,539 141,139    
Investments 4,137,045   4,137,045      
Cash and cash equivalents 120,857   120,857      
Restricted cash 104,677   104,677      
Other assets 3,306,219   3,306,219      
Total assets 7,668,798   7,668,798      
Debt 4,845,717   4,845,717      
Other liabilities 208,277   208,277      
Total liabilities 5,053,994   5,053,994      
Total equity 2,614,804   2,614,804      
Noncontrolling interests in equity of consolidated subsidiaries 0   0      
Total New Residential stockholders’ equity 2,614,804   2,614,804      
Investments in equity method investees 0   0      
Servicer Advances            
Segment Reporting Information [Line Items]            
Interest income 12,494 244,308 31,385 321,012    
Interest expense 6,431 40,720 12,861 84,596    
Net interest income (expense) 6,063 203,588 18,524 236,416    
Impairment 0 0 0 0    
Servicing revenue, net 0 0 0 0    
Other income (loss) (1,633) 54,774 (8,210) 56,575    
Operating expenses 267 605 411 1,429    
Income (Loss) Before Income Taxes 4,163 257,757 9,903 291,562    
Income tax expense (benefit) 203 88,547 (224) 97,739    
Net Income (Loss) 3,960 169,210 10,127 193,823    
Noncontrolling interests in income (loss) of consolidated subsidiaries 1,056 3,328 2,439 9,148    
Net income (loss) attributable to common stockholders 2,904 165,882 7,688 184,675    
Investments 843,438   843,438      
Cash and cash equivalents 32,154   32,154      
Restricted cash 9,441   9,441      
Other assets 3,749   3,749      
Total assets 888,782   888,782      
Debt 639,252   639,252      
Other liabilities (14,004)   (14,004)      
Total liabilities 625,248   625,248      
Total equity 263,534   263,534      
Noncontrolling interests in equity of consolidated subsidiaries 58,286   58,286      
Total New Residential stockholders’ equity 205,248   205,248      
Investments in equity method investees 0   0      
Real Estate Securities            
Segment Reporting Information [Line Items]            
Interest income 115,592 113,475 216,725 207,283    
Interest expense 48,548 29,571 90,078 50,452    
Net interest income (expense) 67,044 83,904 126,647 156,831    
Impairment 12,631 5,115 19,301 7,227    
Servicing revenue, net 0 0 0 0    
Other income (loss) 16,783 (15,374) 27,352 (20,970)    
Operating expenses 643 297 940 628    
Income (Loss) Before Income Taxes 70,553 63,118 133,758 128,006    
Income tax expense (benefit) 0 0 0 0    
Net Income (Loss) 70,553 63,118 133,758 128,006    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0    
Net income (loss) attributable to common stockholders 70,553 63,118 133,758 128,006    
Investments 8,084,927   8,084,927      
Cash and cash equivalents 4,885   4,885      
Restricted cash 0   0      
Other assets 1,211,807   1,211,807      
Total assets 9,301,619   9,301,619      
Debt 6,365,317   6,365,317      
Other liabilities 1,195,845   1,195,845      
Total liabilities 7,561,162   7,561,162      
Total equity 1,740,457   1,740,457      
Noncontrolling interests in equity of consolidated subsidiaries 0   0      
Total New Residential stockholders’ equity 1,740,457   1,740,457      
Investments in equity method investees 0   0      
Residential Mortgage Loans            
Segment Reporting Information [Line Items]            
Interest income 40,685 25,638 75,077 43,631    
Interest expense 18,614 11,628 34,925 19,168    
Net interest income (expense) 22,071 14,010 40,152 24,463    
Impairment (9,430) 5,261 (4,247) 3,243    
Servicing revenue, net 0 0 0 0    
Other income (loss) 5,727 21,174 (14,490) 19,838    
Operating expenses 10,275 8,406 19,222 14,259    
Income (Loss) Before Income Taxes 26,953 21,517 10,687 26,799    
Income tax expense (benefit) (2,811) 4,793 (2,811) 2,476    
Net Income (Loss) 29,764 16,724 13,498 24,323    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0    
Net income (loss) attributable to common stockholders 29,764 16,724 13,498 24,323    
Investments 2,837,791   2,837,791      
Cash and cash equivalents 10,403   10,403      
Restricted cash 0   0      
Other assets 116,590   116,590      
Total assets 2,964,784   2,964,784      
Debt 2,237,388   2,237,388      
Other liabilities 48,873   48,873      
Total liabilities 2,286,261   2,286,261      
Total equity 678,523   678,523      
Noncontrolling interests in equity of consolidated subsidiaries 0   0      
Total New Residential stockholders’ equity 678,523   678,523      
Investments in equity method investees 0   0      
Consumer Loans            
Segment Reporting Information [Line Items]            
Interest income 55,022 67,698 107,670 140,104    
Interest expense 11,019 13,633 22,535 28,506    
Net interest income (expense) 44,003 54,065 85,135 111,598    
Impairment 13,088 15,510 26,912 35,438    
Servicing revenue, net 0 0 0 0    
Other income (loss) 4,478 5,896 9,568 5,916    
Operating expenses 8,839 11,544 18,276 22,982    
Income (Loss) Before Income Taxes 26,554 32,907 49,515 59,094    
Income tax expense (benefit) 0 170 244 170    
Net Income (Loss) 26,554 32,737 49,271 58,924    
Noncontrolling interests in income (loss) of consolidated subsidiaries 10,022 12,343 18,750 22,303    
Net income (loss) attributable to common stockholders 16,532 20,394 30,521 36,621    
Investments 1,270,737   1,270,737      
Cash and cash equivalents 17,283   17,283      
Restricted cash 43,605   43,605      
Other assets 39,167   39,167      
Total assets 1,370,792   1,370,792      
Debt 1,179,673   1,179,673      
Other liabilities 15,199   15,199      
Total liabilities 1,194,872   1,194,872      
Total equity 175,920   175,920      
Noncontrolling interests in equity of consolidated subsidiaries 31,845   31,845      
Total New Residential stockholders’ equity 144,075   144,075      
Investments in equity method investees 57,820   57,820      
Corporate            
Segment Reporting Information [Line Items]            
Interest income 874 170 1,506 354    
Interest expense 0 0 0 0    
Net interest income (expense) 874 170 1,506 354    
Impairment 0 0 0 0    
Servicing revenue, net 0 0 0 0    
Other income (loss) (860) 0 4,911 0    
Operating expenses 49,604 59,078 86,257 89,264    
Income (Loss) Before Income Taxes (49,590) (58,908) (79,840) (88,910)    
Income tax expense (benefit) 0 0 0 0    
Net Income (Loss) (49,590) (58,908) (79,840) (88,910)    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0    
Net income (loss) attributable to common stockholders (49,590) $ (58,908) (79,840) $ (88,910)    
Investments 0   0      
Cash and cash equivalents 7,165   7,165      
Restricted cash 0   0      
Other assets 79,634   79,634      
Total assets 86,799   86,799      
Debt 0   0      
Other liabilities 224,567   224,567      
Total liabilities 224,567   224,567      
Total equity (137,768)   (137,768)      
Noncontrolling interests in equity of consolidated subsidiaries 0   0      
Total New Residential stockholders’ equity (137,768)   (137,768)      
Investments in equity method investees $ 0   $ 0