Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Schedule of Residential Mortgage Loans Outstanding by Loan Type, Excluding REO (Details)

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INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Schedule of Residential Mortgage Loans Outstanding by Loan Type, Excluding REO (Details)
$ in Thousands
6 Months Ended
Jun. 30, 2015
USD ($)
loan
Dec. 31, 2014
USD ($)
Mortgage Loans on Real Estate [Line Items]    
Weighted Average Life (Years) 11 months 2 days  
Reverse Mortgage Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount [1],[2] $ 39,475  
Carrying Value [1],[2] $ 21,601 $ 24,965
Loan Count | loan [1],[2] 165  
Weighted Average Yield [1],[2] 10.00%  
Weighted Average Life (Years) [1],[2],[3] 4 years 27 days  
Floating Rate Loans as a % of Face Amount [1],[2] 21.50%  
Loan to Value Ratio [1],[2],[4] 110.40%  
Weighted Average Delinquency [1],[2],[5] 75.60%  
Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount [6] $ 22,887  
Carrying Value [6] $ 21,140 22,873
Loan Count | loan [6] 699  
Weighted Average Yield [6] 8.90%  
Weighted Average Life (Years) [3],[6] 5 years 8 months 28 days  
Floating Rate Loans as a % of Face Amount [6] 17.90%  
Loan to Value Ratio [4],[6] 77.80%  
Weighted Average Delinquency [5],[6] 10.80%  
Weighted Average FICO [6],[7] 628  
Residential Mortgage Loans Held-for-Investment [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount $ 62,362  
Carrying Value $ 42,741 47,838
Loan Count | loan 864  
Weighted Average Yield 9.60%  
Weighted Average Life (Years) [3] 4 years 8 months 8 days  
Floating Rate Loans as a % of Face Amount 20.10%  
Loan to Value Ratio [4] 98.40%  
Weighted Average Delinquency [5] 51.90%  
Weighted Average FICO [7] 628  
Performing Loans, Held-for-sale [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount [6] $ 0  
Carrying Value [6] $ 0 388,485
Loan Count | loan [6] 0  
Weighted Average Yield [6] 0.00%  
Weighted Average Life (Years)    
Floating Rate Loans as a % of Face Amount [6] 0.00%  
Loan to Value Ratio [4],[6] 0.00%  
Weighted Average Delinquency [5],[6] 0.00%  
Weighted Average FICO [6],[7] 0  
Purchase Credit Impaired Loans, Held-for-sale [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount [8],[9] $ 599,610  
Carrying Value [8],[9] $ 523,018 737,954
Loan Count | loan [8],[9] 3,680  
Weighted Average Yield [8],[9] 5.30%  
Weighted Average Life (Years) [3],[8],[9] 3 years 11 days  
Floating Rate Loans as a % of Face Amount [8],[9] 14.70%  
Loan to Value Ratio [4],[8],[9] 107.80%  
Weighted Average Delinquency [5],[8],[9] 93.30%  
Weighted Average FICO [7],[8],[9] 574  
Residential Mortgage Loans Held-for-Sale [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount $ 599,610  
Carrying Value $ 523,018 $ 1,126,439
Loan Count | loan 3,680  
Weighted Average Yield 5.30%  
Weighted Average Life (Years) [3] 3 years 11 days  
Floating Rate Loans as a % of Face Amount 14.70%  
Loan to Value Ratio [4] 107.80%  
Weighted Average Delinquency [5] 93.30%  
Weighted Average FICO [7] 574  
[1] FICO scores are not used in determining how much a borrower can access via a reverse mortgage loan.
[2] Represents a 70% interest that New Residential holds in reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.3 million. 74% of these loans have reached a termination event. As a result, the borrower can no longer make draws on these loans. Each loan matures upon the occurrence of a termination event.
[3] The weighted average life is based on the expected timing of the receipt of cash flows.
[4] LTV refers to the ratio comparing the loan’s unpaid principal balance to the value of the collateral property.
[5] Represents the percentage of the total principal balance that are 60+ days delinquent.
[6] Includes loans that are current or less than 30 days past due at acquisition where New Residential expects to collect all contractually required principal and interest payments. Presented net of unamortized discounts of $1.6 million.
[7] The weighted average FICO score is based on the weighted average of information updated and provided by the loan servicer on a monthly basis.
[8] Includes $293.2 million UPB of GNMA EBO non-performing loans on accrual status as contractual cash flows are guaranteed by the FHA.
[9] Includes loans with evidence of credit deterioration since origination where it is probable that New Residential will not collect all contractually required principal and interest payments. As of June 30, 2015, New Residential has placed all of these loans on nonaccrual status, except as described in (I) below.