Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Financial Assets Measured at Fair Value on a Recurring Basis using Level 3 Inputs (Details)

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FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Financial Assets Measured at Fair Value on a Recurring Basis using Level 3 Inputs (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Gains (losses) included in net income        
Included in gain on settlement of investments, net $ 1,201 $ 52,539 $ 15,968 $ 56,896
Recurring Basis [Member] | Level 3 [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning     4,774,850  
Transfers from Level 3     0  
Transfers to Level 3     0  
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights     0  
Gains (losses) included in net income        
Included in other-than-temporary impairment (''OTTI'') on securities [1]     (1,720)  
Included in change in fair value of investments in excess mortgage servicing rights [1]     (1,405)  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [1]     8,016  
Included in change in fair value of investments in servicer advances     16,893  
Included in gain on settlement of investments, net     3,808  
Included in other income [1]     1,577  
Gains (losses) included in other comprehensive income, net of tax [2]     (560)  
Interest income     223,530  
Purchases, sales, repayments and transfers        
Purchases     12,944,059  
Proceeds from sales     (389,719)  
Proceeds from repayments     (6,846,894)  
De-linked transactions     0  
Balance, ending 10,816,865   10,816,865  
Recurring Basis [Member] | Level 3 [Member] | Accounting Standards Update 2014-11 [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [3]     84,430  
Purchases, sales, repayments and transfers        
De-linked transactions [3]     84,430  
Recurring Basis [Member] | Level 3 [Member] | Linked Transactions [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning     32,402  
Transfers from Level 3 [4]     0  
Transfers to Level 3 [4]     0  
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [4]     0  
Gains (losses) included in net income        
Included in other-than-temporary impairment (''OTTI'') on securities [1]     0  
Included in change in fair value of investments in excess mortgage servicing rights [1]     0  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [1]     0  
Included in change in fair value of investments in servicer advances     0  
Included in gain on settlement of investments, net     0  
Included in other income [1]     0  
Gains (losses) included in other comprehensive income, net of tax [2]     0  
Interest income     0  
Purchases, sales, repayments and transfers        
Purchases     0  
Proceeds from sales     0  
Proceeds from repayments     0  
De-linked transactions [4]     0  
Balance, ending 0   0  
Recurring Basis [Member] | Level 3 [Member] | Linked Transactions [Member] | Accounting Standards Update 2014-11 [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [3]     (32,402)  
Purchases, sales, repayments and transfers        
De-linked transactions [3]     (32,402)  
Recurring Basis [Member] | Level 3 [Member] | Non-Agency RMBS [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning     723,000  
Transfers from Level 3 [4]     0  
Transfers to Level 3 [4]     0  
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [4]     0  
Gains (losses) included in net income        
Included in other-than-temporary impairment (''OTTI'') on securities [1]     (1,720)  
Included in change in fair value of investments in excess mortgage servicing rights [1]     0  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [1]     0  
Included in change in fair value of investments in servicer advances     0  
Included in gain on settlement of investments, net     3,808  
Included in other income [1]     0  
Gains (losses) included in other comprehensive income, net of tax [2]     (560)  
Interest income     23,196  
Purchases, sales, repayments and transfers        
Purchases     490,438  
Proceeds from sales     (389,719)  
Proceeds from repayments     (51,344)  
De-linked transactions [4]     0  
Balance, ending 913,931   913,931  
Recurring Basis [Member] | Level 3 [Member] | Non-Agency RMBS [Member] | Accounting Standards Update 2014-11 [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [3]     116,832  
Purchases, sales, repayments and transfers        
De-linked transactions [3]     116,832  
Recurring Basis [Member] | Level 3 [Member] | Servicer Advances [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning     3,270,839  
Transfers from Level 3 [4]     0  
Transfers to Level 3 [4]     0  
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [4]     0  
Gains (losses) included in net income        
Included in other-than-temporary impairment (''OTTI'') on securities [1]     0  
Included in change in fair value of investments in excess mortgage servicing rights [1]     0  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [1]     0  
Included in change in fair value of investments in servicer advances     16,893  
Included in gain on settlement of investments, net     0  
Included in other income [1]     0  
Gains (losses) included in other comprehensive income, net of tax [2]     0  
Interest income     150,937  
Purchases, sales, repayments and transfers        
Purchases     11,404,992  
Proceeds from sales     0  
Proceeds from repayments     (6,661,261)  
De-linked transactions [4]     0  
Balance, ending 8,182,400   8,182,400  
Recurring Basis [Member] | Level 3 [Member] | Servicer Advances [Member] | Accounting Standards Update 2014-11 [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [3]     0  
Purchases, sales, repayments and transfers        
De-linked transactions [3]     0  
Recurring Basis [Member] | Level 3 [Member] | MSRs Agency [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning [5]     217,519  
Transfers from Level 3 [4],[5]     0  
Transfers to Level 3 [4],[5]     0  
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [4],[5]     0  
Gains (losses) included in net income        
Included in other-than-temporary impairment (''OTTI'') on securities [1],[5]     0  
Included in change in fair value of investments in excess mortgage servicing rights [1],[5]     5,425  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [1],[5]     0  
Included in change in fair value of investments in servicer advances [5]     0  
Included in gain on settlement of investments, net [5]     0  
Included in other income [1],[5]     1,577  
Gains (losses) included in other comprehensive income, net of tax [2],[5]     0  
Interest income [5]     13,176  
Purchases, sales, repayments and transfers        
Purchases [5]     129,098  
Proceeds from sales [5]     0  
Proceeds from repayments [5]     (25,268)  
De-linked transactions [4],[5]     0  
Balance, ending [5] 341,527   341,527  
Recurring Basis [Member] | Level 3 [Member] | MSRs Agency [Member] | Accounting Standards Update 2014-11 [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [3],[5]     0  
Purchases, sales, repayments and transfers        
De-linked transactions [3],[5]     0  
Recurring Basis [Member] | Level 3 [Member] | MSRs Agency [Member] | Excess MSRs Investees [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning [5],[6]     232,618  
Transfers from Level 3 [4],[5],[6]     0  
Transfers to Level 3 [4],[5],[6]     0  
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [4],[5],[6]     0  
Gains (losses) included in net income        
Included in other-than-temporary impairment (''OTTI'') on securities [1],[5],[6]     0  
Included in change in fair value of investments in excess mortgage servicing rights [1],[5],[6]     0  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [1],[5],[6]     8,016  
Included in change in fair value of investments in servicer advances [5],[6]     0  
Included in gain on settlement of investments, net [5],[6]     0  
Included in other income [1],[5],[6]     0  
Gains (losses) included in other comprehensive income, net of tax [2],[5],[6]     0  
Interest income [5],[6]     0  
Purchases, sales, repayments and transfers        
Purchases [5],[6]     0  
Proceeds from sales [5],[6]     0  
Proceeds from repayments [5],[6]     (24,522)  
De-linked transactions [4],[5],[6]     0  
Balance, ending [5],[6] 216,112   216,112  
Recurring Basis [Member] | Level 3 [Member] | MSRs Agency [Member] | Excess MSRs Investees [Member] | Accounting Standards Update 2014-11 [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [3],[5],[6]     0  
Purchases, sales, repayments and transfers        
De-linked transactions [3],[5],[6]     0  
Recurring Basis [Member] | Level 3 [Member] | MSRs Non-Agency [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning [5]     200,214  
Transfers from Level 3 [4],[5]     0  
Transfers to Level 3 [4],[5]     0  
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [4],[5]     98,258  
Gains (losses) included in net income        
Included in other-than-temporary impairment (''OTTI'') on securities [1],[5]     0  
Included in change in fair value of investments in excess mortgage servicing rights [1],[5]     (6,830)  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [1],[5]     0  
Included in change in fair value of investments in servicer advances [5]     0  
Included in gain on settlement of investments, net [5]     0  
Included in other income [1],[5]     0  
Gains (losses) included in other comprehensive income, net of tax [2],[5]     0  
Interest income [5]     36,221  
Purchases, sales, repayments and transfers        
Purchases [5]     919,531  
Proceeds from sales [5]     0  
Proceeds from repayments [5]     (84,499)  
De-linked transactions [4],[5]     98,258  
Balance, ending [5] 1,162,895   1,162,895  
Recurring Basis [Member] | Level 3 [Member] | MSRs Non-Agency [Member] | Accounting Standards Update 2014-11 [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [3],[5]     0  
Purchases, sales, repayments and transfers        
De-linked transactions [3],[5]     0  
Recurring Basis [Member] | Level 3 [Member] | MSRs Non-Agency [Member] | Excess MSRs Investees [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Balance, beginning [5],[6]     98,258  
Transfers from Level 3 [4],[5],[6]     0  
Transfers to Level 3 [4],[5],[6]     0  
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [4],[5],[6]     (98,258)  
Gains (losses) included in net income        
Included in other-than-temporary impairment (''OTTI'') on securities [1],[5],[6]     0  
Included in change in fair value of investments in excess mortgage servicing rights [1],[5],[6]     0  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [1],[5],[6]     0  
Included in change in fair value of investments in servicer advances [5],[6]     0  
Included in gain on settlement of investments, net [5],[6]     0  
Included in other income [1],[5],[6]     0  
Gains (losses) included in other comprehensive income, net of tax [2],[5],[6]     0  
Interest income [5],[6]     0  
Purchases, sales, repayments and transfers        
Purchases [5],[6]     0  
Proceeds from sales [5],[6]     0  
Proceeds from repayments [5],[6]     0  
De-linked transactions [4],[5],[6]     (98,258)  
Balance, ending [5],[6] $ 0   0  
Recurring Basis [Member] | Level 3 [Member] | MSRs Non-Agency [Member] | Excess MSRs Investees [Member] | Accounting Standards Update 2014-11 [Member]        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Transfers from investments in excess mortgage servicing rights, equity method investees, to investments in excess mortgage servicing rights [3],[5],[6]     0  
Purchases, sales, repayments and transfers        
De-linked transactions [3],[5],[6]     $ 0  
[1] The gains (losses) recorded in earnings during the period are attributable to the change in unrealized gains (losses) relating to Level 3 assets still held at the reporting dates.
[2] These gains (losses) were included in net unrealized gain (loss) on securities in the Condensed Consolidated Statements of Comprehensive Income.
[3] See Note 10 for a discussion of transactions formerly accounted for as linked transactions.
[4] Transfers are assumed to occur at the beginning of each respective period.
[5] Includes the Recapture Agreement for each respective pool.
[6] Amounts represent New Residential’s portion of the Excess MSRs held by the respective joint ventures in which New Residential has a 50% interest.