Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS - Schedule of Debt Obligations (Details)

v3.2.0.727
DEBT OBLIGATIONS - Schedule of Debt Obligations (Details) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Dec. 31, 2014
Debt Instrument [Line Items]    
Outstanding Face Amount $ 10,311,446  
Carrying Value [1] $ 10,287,678 $ 6,057,853
Weighted Average Funding Cost 2.59%  
Weighted Average Life (Years) 11 months 2 days  
Servicer Advances [Member]    
Debt Instrument [Line Items]    
Carrying Value $ 7,667,067  
Repurchase Agreements [Member] | Agency RMBS [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [2],[3] 1,172,422  
Carrying Value [1],[2],[3] $ 1,172,422 1,707,602
Weighted Average Funding Cost [2],[3] 0.40%  
Weighted Average Life (Years) [2],[3] 22 days  
Repurchase Agreements [Member] | Agency RMBS [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [2],[3] 1 year 4 days  
Outstanding Face Amount of Collateral [2],[3] $ 1,167,997  
Amortized Cost Basis of Collateral [2],[3] 1,206,770  
Carrying Value of Collateral [2],[3] 1,204,179  
Repurchase Agreements [Member] | Non-Agency RMBS [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [3],[4] 659,567  
Carrying Value [1],[3],[4] $ 659,567 539,049
Weighted Average Funding Cost [3],[4] 1.87%  
Weighted Average Life (Years) [3],[4] 28 days  
Repurchase Agreements [Member] | Non-Agency RMBS [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [3],[4] 7 years 5 months 9 days  
Outstanding Face Amount of Collateral [3],[4] $ 2,281,029  
Amortized Cost Basis of Collateral [3],[4] 901,082  
Carrying Value of Collateral [3],[4] 910,802  
Repurchase Agreements [Member] | Residential Mortgage [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [3],[5] 447,940  
Carrying Value [1],[3],[5] $ 447,012 867,334
Weighted Average Funding Cost [3],[5] 2.95%  
Weighted Average Life (Years) [3],[5] 7 months 15 days  
Repurchase Agreements [Member] | Residential Mortgage [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [3],[5] 2 years 8 months 14 days  
Outstanding Face Amount of Collateral [3],[5] $ 618,216  
Amortized Cost Basis of Collateral [3],[5] 543,131  
Carrying Value of Collateral [3],[5] 540,415  
Repurchase Agreements [Member] | Real Estate Owned [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [3],[6],[7] 82,946  
Carrying Value [1],[3],[6],[7] $ 82,784 35,105
Weighted Average Funding Cost [3],[6],[7] 3.15%  
Weighted Average Life (Years) [3],[6],[7] 6 months 29 days  
Repurchase Agreements [Member] | Real Estate Owned [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Carrying Value of Collateral [3],[6],[7] $ 89,168  
Repurchase Agreements [Member] | Consumer Loan Investment [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [3],[8] 42,976  
Carrying Value [1],[3],[8] $ 42,832 0
Weighted Average Funding Cost [3],[8] 3.77%  
Weighted Average Life (Years) [3],[8] 3 months 2 days  
Repurchase Agreements [Member] | Consumer Loan Investment [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [3],[8] 3 years 5 months 21 days  
Carrying Value of Collateral [3],[8] $ 0  
Repurchase Agreements [Member] | Total Repurchase Agreements [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [3] 2,405,851  
Carrying Value [1],[3] $ 2,404,617 3,149,090
Weighted Average Funding Cost [3] 1.44%  
Weighted Average Life (Years) [3] 2 months 9 days  
Notes Payable [Member] | Residential Mortgage [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [9] $ 22,433  
Carrying Value [1],[9] $ 22,433 22,194
Weighted Average Funding Cost [9] 3.07%  
Weighted Average Life (Years) [9] 3 months 19 days  
Notes Payable [Member] | Residential Mortgage [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [9] 4 years 27 days  
Outstanding Face Amount of Collateral [9] $ 39,475  
Amortized Cost Basis of Collateral [9] 23,305  
Carrying Value of Collateral [9] 21,601  
Notes Payable [Member] | Real Estate Owned [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount 0  
Carrying Value [1] $ 0 785
Weighted Average Funding Cost 0.00%  
Weighted Average Life (Years)    
Notes Payable [Member] | Real Estate Owned [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Carrying Value of Collateral $ 0  
Notes Payable [Member] | Secured Corporate Note [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [10] 195,600  
Carrying Value [1],[10] $ 193,600 0
Weighted Average Funding Cost [10] 5.43%  
Weighted Average Life (Years) [10] 1 year 9 months 25 days  
Notes Payable [Member] | Secured Corporate Note [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [10] 4 years 10 months 3 days  
Outstanding Face Amount of Collateral [10] $ 101,243,511  
Amortized Cost Basis of Collateral [10] 230,282  
Carrying Value of Collateral [10] 268,951  
Notes Payable [Member] | Servicer Advances [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [11] 7,687,600  
Carrying Value [1],[11] $ 7,667,100 2,885,784
Weighted Average Funding Cost [11] 2.88%  
Weighted Average Life (Years) [11] 1 year 1 month 17 days  
Notes Payable [Member] | Servicer Advances [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [11] 4 years 4 months 1 day  
Outstanding Face Amount of Collateral [11] $ 8,278,685  
Amortized Cost Basis of Collateral [11] 8,081,258  
Carrying Value of Collateral [11] 8,182,400  
Notes Payable [Member] | Total Notes Payable [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount 7,905,595  
Carrying Value [1] $ 7,883,061 $ 2,908,763
Weighted Average Funding Cost 2.94%  
Weighted Average Life (Years) 1 year 1 month 22 days  
[1] Net of deferred financing costs associated with the adoption of ASU No. 2015-03.
[2] The counterparties of these repurchase agreements are Citibank ($232.2 million), Morgan Stanley ($77.0 million), Barclays ($96.8 million), Daiwa ($377.2 million) and Jefferies ($389.2 million) and were subject to customary margin call provisions. All of the Agency RMBS repurchase agreements have a fixed rate.
[3] These repurchase agreements had approximately $2.5 million of associated accrued interest payable as of June 30, 2015.
[4] The counterparties of these repurchase agreements are Barclays ($5.4 million), Credit Suisse ($263.7 million), Royal Bank of Canada ($10.2 million), Bank of America, N.A. ($88.7 million), Citibank ($60.6 million), Goldman Sachs ($70.1 million) and UBS ($160.8 million) and were subject to customary margin call provisions. All of the Non-Agency repurchase agreements have LIBOR-based floating interest rates.
[5] The counterparties on these repurchase agreements are Barclays ($263.4 million maturing in January 2016), Bank of America N.A. ($61.4 million maturing in August 2016), Nomura ($60.5 million maturing in May 2016), Citibank ($2.7 million maturing in August 2015) and Credit Suisse ($60.0 million maturing in November 2015). All of these repurchase agreements have LIBOR-based floating interest rates.
[6] Includes financing collateralized by receivables including claims from FHA on GNMA EBO loans for which foreclosure has been completed and for which New Residential has made or intends to make a claim on the FHA guarantee.
[7] The counterparties of these repurchase agreements are Barclays ($68.2 million), Credit Suisse ($0.9 million), Bank of America, N.A. ($3.5 million), Citibank ($0.6 million) and Nomura ($9.8 million). All of these repurchase agreements have LIBOR-based floating interest rates.
[8] The repurchase agreement is payable to Bank of America, N.A. and bears interest equal to three-month LIBOR plus 3.50% and is collateralized by New Residential’s interest in consumer loans (Note 9).
[9] The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 2.875%.
[10] The loan bears interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 5.25%. The outstanding face of the collateral represents the UPB of the residential mortgage loans underlying the Excess MSRs that secure this corporate loan.
[11] $3.1 billion face amount of the notes have a fixed rate while the remaining notes bear interest equal to the sum of (i) a floating rate index rate equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.0% to 2.0%.