Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Summary of Direct Investments in Excess MSRs (Details)

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INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Summary of Direct Investments in Excess MSRs (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
Investment [Line Items]          
Weighted Average Life (Years)     11 months 2 days    
Change in fair value of investments in excess mortgage servicing rights $ 356 $ 5,502 $ (1,405) $ 12,104  
Original and Recaptured Pools [Member]          
Investment [Line Items]          
Change in fair value of investments in excess mortgage servicing rights (3,441) 2,801 (5,418) 9,888  
Recapture Agreements [Member]          
Investment [Line Items]          
Change in fair value of investments in excess mortgage servicing rights 3,797 $ 2,701 4,013 $ 2,216  
Excess MSRs [Member]          
Investment [Line Items]          
Unpaid Principal Balance (“UPB”) of Underlying Mortgages 335,643,658   $ 335,643,658    
Weighted Average Life (Years)     5 years 7 months 6 days    
Amortized Cost Basis [1] 1,396,308   $ 1,396,308    
Carrying Value [2] 1,504,422   1,504,422   $ 417,733
Excess MSRs [Member] | Agency [Member]          
Investment [Line Items]          
Unpaid Principal Balance (“UPB”) of Underlying Mortgages 80,896,500   $ 80,896,500    
Weighted Average Life (Years)     6 years 4 months 24 days    
Amortized Cost Basis [1] 267,926   $ 267,926    
Carrying Value [2] 341,527   341,527   217,519
Excess MSRs [Member] | Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Unpaid Principal Balance (“UPB”) of Underlying Mortgages 80,896,500   $ 80,896,500    
Weighted Average Life (Years)     5 years 9 months 18 days    
Amortized Cost Basis [1] 240,981   $ 240,981    
Carrying Value [2] 291,288   291,288   188,733
Excess MSRs [Member] | Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Unpaid Principal Balance (“UPB”) of Underlying Mortgages 0   $ 0    
Weighted Average Life (Years)     11 years 6 months    
Amortized Cost Basis [1] 26,945   $ 26,945    
Carrying Value [2] 50,239   50,239   28,786
Excess MSRs [Member] | Non-Agency [Member]          
Investment [Line Items]          
Unpaid Principal Balance (“UPB”) of Underlying Mortgages 254,747,158   $ 254,747,158    
Weighted Average Life (Years)     5 years 4 months 24 days    
Amortized Cost Basis [1] 1,128,382   $ 1,128,382    
Carrying Value [2] 1,162,895   1,162,895   200,214
Excess MSRs [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Unpaid Principal Balance (“UPB”) of Underlying Mortgages [3] 103,812,302   $ 103,812,302    
Weighted Average Life (Years)     4 years 10 months 24 days    
Amortized Cost Basis [1],[3] 222,394   $ 222,394    
Carrying Value [2],[3] 258,729   258,729   189,812
Excess MSRs [Member] | Non-Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Unpaid Principal Balance (“UPB”) of Underlying Mortgages [3] 0   $ 0    
Weighted Average Life (Years)     11 years 10 months 24 days    
Amortized Cost Basis [1],[3] 15,835   $ 15,835    
Carrying Value [2],[3] 16,952   16,952   10,402
Excess MSRs [Member] | Non-Agency [Member] | Ocwen Serviced Pools [Member]          
Investment [Line Items]          
Unpaid Principal Balance (“UPB”) of Underlying Mortgages [3] $ 150,934,856   $ 150,934,856    
Interest in Excess MSR [3] 100.00%   100.00%    
Weighted Average Life (Years)     5 years 4 months 24 days    
Amortized Cost Basis [1],[3] $ 890,153   $ 890,153    
Carrying Value [2],[3] $ 887,214   $ 887,214   0
Excess MSRs [Member] | Lower Range [Member] | Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR 32.50%   32.50%    
Excess MSRs [Member] | Lower Range [Member] | Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Interest in Excess MSR 32.50%   32.50%    
Excess MSRs [Member] | Lower Range [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 33.30%   33.30%    
Excess MSRs [Member] | Lower Range [Member] | Non-Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 33.30%   33.30%    
Excess MSRs [Member] | Upper Range [Member] | Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR 66.70%   66.70%    
Excess MSRs [Member] | Upper Range [Member] | Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Interest in Excess MSR 66.70%   66.70%    
Excess MSRs [Member] | Upper Range [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 80.00%   80.00%    
Excess MSRs [Member] | Upper Range [Member] | Non-Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 80.00%   80.00%    
Fortress [Member] | Excess MSRs [Member] | Non-Agency [Member] | Ocwen Serviced Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 0.00%   0.00%    
Fortress [Member] | Excess MSRs [Member] | Lower Range [Member] | Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR 0.00%   0.00%    
Fortress [Member] | Excess MSRs [Member] | Lower Range [Member] | Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Interest in Excess MSR 0.00%   0.00%    
Fortress [Member] | Excess MSRs [Member] | Lower Range [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 0.00%   0.00%    
Fortress [Member] | Excess MSRs [Member] | Lower Range [Member] | Non-Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 0.00%   0.00%    
Fortress [Member] | Excess MSRs [Member] | Upper Range [Member] | Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR 40.00%   40.00%    
Fortress [Member] | Excess MSRs [Member] | Upper Range [Member] | Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Interest in Excess MSR 40.00%   40.00%    
Fortress [Member] | Excess MSRs [Member] | Upper Range [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 50.00%   50.00%    
Fortress [Member] | Excess MSRs [Member] | Upper Range [Member] | Non-Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 50.00%   50.00%    
Nationstar [Member] | Excess MSRs [Member]          
Investment [Line Items]          
Carrying Value $ 610,478   $ 610,478   $ 409,076
Nationstar [Member] | Excess MSRs [Member] | Non-Agency [Member] | Ocwen Serviced Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 0.00%   0.00%    
Nationstar [Member] | Excess MSRs [Member] | Lower Range [Member] | Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR 20.00%   20.00%    
Nationstar [Member] | Excess MSRs [Member] | Lower Range [Member] | Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Interest in Excess MSR 20.00%   20.00%    
Nationstar [Member] | Excess MSRs [Member] | Lower Range [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 0.00%   0.00%    
Nationstar [Member] | Excess MSRs [Member] | Lower Range [Member] | Non-Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 0.00%   0.00%    
Nationstar [Member] | Excess MSRs [Member] | Upper Range [Member] | Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR 35.00%   35.00%    
Nationstar [Member] | Excess MSRs [Member] | Upper Range [Member] | Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Interest in Excess MSR 35.00%   35.00%    
Nationstar [Member] | Excess MSRs [Member] | Upper Range [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 33.30%   33.30%    
Nationstar [Member] | Excess MSRs [Member] | Upper Range [Member] | Non-Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
Interest in Excess MSR [3] 33.30%   33.30%    
[1] The amortized cost basis of the Recapture Agreements is determined based on the relative fair values of the Recapture Agreements and related Excess MSRs at the time they were acquired.
[2] Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.
[3] Excess MSR investments in which New Residential also invested in related servicer advances, including the basic fee component of the related MSR as of June 30, 2015 (Note 6).