Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING - Summary of Segment Financial Data (Details)

v3.2.0.727
SEGMENT REPORTING - Summary of Segment Financial Data (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Segment Reporting Information [Line Items]          
Interest income $ 178,177 $ 92,656 $ 262,550 $ 164,146  
Interest expense 81,871 36,512 115,850 75,509  
Net interest income (expense) 96,306 56,144 146,700 88,637  
Impairment 5,421 908 7,469 1,400  
Other income 37,650 177,889 49,945 212,939  
Operating expenses 34,952 29,522 57,222 39,421  
Income (Loss) Before Income Taxes 93,583 203,603 131,954 260,755  
Income tax expense (benefit) 14,306 21,395 10,879 21,682  
Net Income (Loss) 79,277 182,208 121,075 239,073  
Noncontrolling interests in income (loss) of consolidated subsidiaries 4,158 58,705 9,981 66,798  
Net income (loss) attributable to common stockholders 75,119 123,503 111,094 172,275  
Investments 12,401,981   12,401,981    
Cash and cash equivalents 432,007   432,007    
Restricted cash 134,735   134,735   $ 29,418
Derivative assets 1,701   1,701   32,597
Other assets 1,424,374   1,424,374    
Total assets 14,394,798   14,394,798   8,089,244
Debt [1] 10,287,678   10,287,678   6,057,853
Other liabilities 1,012,038   1,012,038    
Total liabilities 11,299,716   11,299,716   6,239,319
Total equity 3,095,082   3,095,082   1,849,925
Noncontrolling interests in equity of consolidated subsidiaries 231,652   231,652   253,836
Total New Residential stockholders’ equity 2,863,430   2,863,430   $ 1,596,089
Investments in equity method investees 216,112   216,112    
Operating Segments [Member] | Excess MSRs [Member]          
Segment Reporting Information [Line Items]          
Interest income 34,359 10,973 49,397 24,789  
Interest expense 0 0 0 1,291  
Net interest income (expense) 34,359 10,973 49,397 23,498  
Impairment 0 0 0 0  
Other income 4,298 18,245 8,188 31,221  
Operating expenses 260 320 349 385  
Income (Loss) Before Income Taxes 38,397 28,898 57,236 54,334  
Income tax expense (benefit) 0 0 0 0  
Net Income (Loss) 38,397 28,898 57,236 54,334  
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0  
Net income (loss) attributable to common stockholders 38,397 28,898 57,236 54,334  
Investments 1,720,534   1,720,534    
Cash and cash equivalents 3,900   3,900    
Restricted cash 90   90    
Derivative assets 0   0    
Other assets 1,470   1,470    
Total assets 1,725,994   1,725,994    
Debt 0   0    
Other liabilities 218   218    
Total liabilities 218   218    
Total equity 1,725,776   1,725,776    
Noncontrolling interests in equity of consolidated subsidiaries 0   0    
Total New Residential stockholders’ equity 1,725,776   1,725,776    
Investments in equity method investees 216,112   216,112    
Operating Segments [Member] | Servicer Advances [Member]          
Segment Reporting Information [Line Items]          
Interest income 108,588 57,107 150,937 102,823  
Interest expense 63,450 29,772 87,086 61,728  
Net interest income (expense) 45,138 27,335 63,851 41,095  
Impairment 0 0 0 0  
Other income 24,115 82,709 13,389 82,709  
Operating expenses 1,688 769 2,263 1,019  
Income (Loss) Before Income Taxes 67,565 109,275 74,977 122,785  
Income tax expense (benefit) 15,657 21,395 12,417 21,682  
Net Income (Loss) 51,908 87,880 62,560 101,103  
Noncontrolling interests in income (loss) of consolidated subsidiaries 9,279 58,705 15,102 66,798  
Net income (loss) attributable to common stockholders 42,629 29,175 47,458 34,305  
Investments 8,182,400   8,182,400    
Cash and cash equivalents 95,899   95,899    
Restricted cash 131,368   131,368    
Derivative assets 1,701   1,701    
Other assets 174,115   174,115    
Total assets 8,585,483   8,585,483    
Debt 7,667,067   7,667,067    
Other liabilities 48,859   48,859    
Total liabilities 7,715,926   7,715,926    
Total equity 869,557   869,557    
Noncontrolling interests in equity of consolidated subsidiaries 231,652   231,652    
Total New Residential stockholders’ equity 637,905   637,905    
Investments in equity method investees 0   0    
Operating Segments [Member] | Real Estate Securities [Member]          
Segment Reporting Information [Line Items]          
Interest income 23,454 19,522 37,715 30,760  
Interest expense 3,540 3,512 7,021 7,581  
Net interest income (expense) 19,914 16,010 30,694 23,179  
Impairment 650 615 1,720 943  
Other income (4,211) 53,413 (9,302) 58,455  
Operating expenses 105 571 3 631  
Income (Loss) Before Income Taxes 14,948 68,237 19,669 80,060  
Income tax expense (benefit) 0 0 0 0  
Net Income (Loss) 14,948 68,237 19,669 80,060  
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0  
Net income (loss) attributable to common stockholders 14,948 68,237 19,669 80,060  
Investments 1,907,961   1,907,961    
Cash and cash equivalents 16,516   16,516    
Restricted cash 0   0    
Derivative assets 0   0    
Other assets 1,048,521   1,048,521    
Total assets 2,972,998   2,972,998    
Debt 1,831,989   1,831,989    
Other liabilities 771,769   771,769    
Total liabilities 2,603,758   2,603,758    
Total equity 369,240   369,240    
Noncontrolling interests in equity of consolidated subsidiaries 0   0    
Total New Residential stockholders’ equity 369,240   369,240    
Investments in equity method investees 0   0    
Operating Segments [Member] | Real Estate Loans [Member]          
Segment Reporting Information [Line Items]          
Interest income 10,795 5,054 23,520 5,774  
Interest expense 5,185 1,191 11,278 1,389  
Net interest income (expense) 5,610 3,863 12,242 4,385  
Impairment 4,771 293 5,749 457  
Other income 7,817 2,187 21,592 2,858  
Operating expenses 5,610 887 11,712 977  
Income (Loss) Before Income Taxes 3,046 4,870 16,373 5,809  
Income tax expense (benefit) (1,351) 0 (1,538) 0  
Net Income (Loss) 4,397 4,870 17,911 5,809  
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0  
Net income (loss) attributable to common stockholders 4,397 4,870 17,911 5,809  
Investments 591,086   591,086    
Cash and cash equivalents 6,689   6,689    
Restricted cash 3,184   3,184    
Derivative assets 0   0    
Other assets 109,468   109,468    
Total assets 710,427   710,427    
Debt 552,229   552,229    
Other liabilities 23,804   23,804    
Total liabilities 576,033   576,033    
Total equity 134,394   134,394    
Noncontrolling interests in equity of consolidated subsidiaries 0   0    
Total New Residential stockholders’ equity 134,394   134,394    
Investments in equity method investees 0   0    
Operating Segments [Member] | Consumer Loans [Member]          
Segment Reporting Information [Line Items]          
Interest income 0 0 0 0  
Interest expense 524 1,538 524 3,021  
Net interest income (expense) (524) (1,538) (524) (3,021)  
Impairment 0 0 0 0  
Other income 8,510 21,335 18,957 37,695  
Operating expenses 54 90 111 113  
Income (Loss) Before Income Taxes 7,932 19,707 18,322 34,561  
Income tax expense (benefit) 0 0 0 0  
Net Income (Loss) 7,932 19,707 18,322 34,561  
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0  
Net income (loss) attributable to common stockholders 7,932 19,707 18,322 34,561  
Investments 0   0    
Cash and cash equivalents 2,665   2,665    
Restricted cash 0   0    
Derivative assets 0   0    
Other assets 1,102   1,102    
Total assets 3,767   3,767    
Debt 42,832   42,832    
Other liabilities 595   595    
Total liabilities 43,427   43,427    
Total equity (39,660)   (39,660)    
Noncontrolling interests in equity of consolidated subsidiaries 0   0    
Total New Residential stockholders’ equity (39,660)   (39,660)    
Investments in equity method investees 0   0    
Operating Segments [Member] | Corporate [Member]          
Segment Reporting Information [Line Items]          
Interest income 981 0 981 0  
Interest expense 9,172 499 9,941 499  
Net interest income (expense) (8,191) (499) (8,960) (499)  
Impairment 0 0 0 0  
Other income (2,879) 0 (2,879) 1  
Operating expenses 27,235 26,885 42,784 36,296  
Income (Loss) Before Income Taxes (38,305) (27,384) (54,623) (36,794)  
Income tax expense (benefit) 0 0 0 0  
Net Income (Loss) (38,305) (27,384) (54,623) (36,794)  
Noncontrolling interests in income (loss) of consolidated subsidiaries (5,121) 0 (5,121) 0  
Net income (loss) attributable to common stockholders (33,184) $ (27,384) (49,502) $ (36,794)  
Investments 0   0    
Cash and cash equivalents 306,338   306,338    
Restricted cash 93   93    
Derivative assets 0   0    
Other assets 89,698   89,698    
Total assets 396,129   396,129    
Debt 193,561   193,561    
Other liabilities 166,793   166,793    
Total liabilities 360,354   360,354    
Total equity 35,775   35,775    
Noncontrolling interests in equity of consolidated subsidiaries 0   0    
Total New Residential stockholders’ equity 35,775   35,775    
Investments in equity method investees $ 0   $ 0    
[1] Net of deferred financing costs associated with the adoption of ASU No. 2015-03.