Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN CONSUMER LOANS (Tables)

v3.4.0.3
INVESTMENTS IN CONSUMER LOANS (Tables)
3 Months Ended
Mar. 31, 2016
Investments In Consumer Loans Equity Method Investees [Abstract]  
Summary of the Investment in Consumer Loan Companies
The following tables summarize the investment in Consumer Loans, held-for-investment held by New Residential:
 
Unpaid Principal Balance(A)

Interest in Consumer Loan Companies

Carrying Value(B)

Weighted Average Coupon(C)

Weighted Average Yield

Weighted Average Expected Life (Years)(D)
 
Delinquency(E)
March 31, 2016(F)
$
1,986,162

 
53.5
%
 
$
1,970,565

 
18.3
%
 
9.5
%
 
4.2
 
7.0
%
December 31, 2015(G)
$
2,094,904

 
30.0
%
 
$
1,698,130

 
18.2
%
 
18.1
%
 
4.4
 
7.2
%

(A)
Represents the balances as of February 29, 2016 and November 30, 2015, respectively.
(B)
Represents the carrying value of the consumer loans held by the Consumer Loan Companies.
(C)
Substantially all of the cash flows received on the loans was required to be used to make payments on the notes described above.
(D)
Represents the weighted average expected timing of the receipt of expected cash flows for this investment.
(E)
Represents the percentage of the total principal balance that is 30+ days delinquent. Delinquency status is the primary credit quality indicator as it provides early warning of borrowers who may be experiencing financial difficulties.
(F)
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, which are accounted for as PCD loans.
(G)
Held through an equity method investee at such time.
Schedule of Assets and Liabilities Related to Consolidated Variable Interest Entities
The following table presents information on the combined assets and liabilities related to these consolidated VIEs.
 
 
As of
 
 
March 31, 2016
Assets
 
 
Consumer loans, held-for-investment
 
$
1,970,565

Restricted cash
 
14,931

Total assets(A)
 
$
1,985,496

Liabilities
 
 
Notes and bonds payable
 
$
1,803,192

Accounts payable and accrued expenses
 
4,764

Total liabilities(A)
 
$
1,807,956


(A)
The creditors of the Consumer Loan SPVs do not have recourse to the general credit of New Residential, and the assets of the Consumer Loan SPVs are not directly available to satisfy New Residential’s obligations.