Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN CONSUMER LOANS, EQUITY METHOD INVESTEES - Summary of Consumer Loan Investments made through Equity Method Investees (Details)

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INVESTMENTS IN CONSUMER LOANS, EQUITY METHOD INVESTEES - Summary of Consumer Loan Investments made through Equity Method Investees (Details) - USD ($)
$ in Thousands
6 Months Ended 12 Months Ended
Jun. 30, 2015
Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]    
Weighted Average Expected Life (Years) 11 months 2 days  
Consumer Loan Investees [Member]    
Schedule of Equity Method Investments [Line Items]    
Unpaid Principal Balance [1] $ 2,329,736 $ 2,589,748
New Residential Interest in Investees 30.00% 30.00%
Carrying value [2] $ 1,880,054 $ 2,088,330
Weighted Average Coupon [3] 18.20% 18.10%
Weighted Average Yield 17.80% 16.10%
Weighted Average Expected Life (Years) [4] 3 years 5 months 21 days 3 years 7 months 6 days
[1] Represents the May 31, 2015 and November 30, 2014 balances, respectively.
[2] Represents the carrying value of the consumer loans held by the Consumer Loan Companies.
[3] Substantially all of the cash flows received on the loans is required to be used to make payments on the notes described above.
[4] Weighted Average Expected Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.