Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Summary of Direct Investments in Excess MSRs (Details)

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INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Summary of Direct Investments in Excess MSRs (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Dec. 31, 2015
Investment [Line Items]      
Weighted Average Life (Years) 1 year 2 months 26 days    
Change in fair value of investments in excess mortgage servicing rights $ 7,926 $ (1,761)  
Original and Recaptured Pools [Member]      
Investment [Line Items]      
Change in fair value of investments in excess mortgage servicing rights 5,697 (1,976)  
Recapture Agreements [Member]      
Investment [Line Items]      
Change in fair value of investments in excess mortgage servicing rights 2,229 $ 215  
Excess MSRs [Member]      
Investment [Line Items]      
UPB of Underlying Mortgages $ 317,540,275    
Weighted Average Life (Years) [1] 6 years 3 months 18 days    
Amortized Cost Basis [2] $ 1,390,908    
Carrying Value [3] 1,547,004   $ 1,581,517
Excess MSRs [Member] | Agency [Member]      
Investment [Line Items]      
UPB of Underlying Mortgages $ 90,119,338    
Weighted Average Life (Years) [1] 6 years 6 months    
Amortized Cost Basis [2] $ 359,856    
Carrying Value [3] 425,900   437,201
Excess MSRs [Member] | Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
UPB of Underlying Mortgages $ 90,119,338    
Weighted Average Life (Years) [1] 5 years 10 months 24 days    
Amortized Cost Basis [2] $ 325,508    
Carrying Value [3] 367,004   378,083
Excess MSRs [Member] | Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
UPB of Underlying Mortgages $ 0    
Weighted Average Life (Years) [1] 12 years 2 months 12 days    
Amortized Cost Basis [2] $ 34,348    
Carrying Value [3] 58,896   59,118
Excess MSRs [Member] | Non-Agency [Member]      
Investment [Line Items]      
UPB of Underlying Mortgages [4] $ 227,420,937    
Weighted Average Life (Years) [1],[4] 6 years 2 months 12 days    
Amortized Cost Basis [2],[4] $ 1,031,052    
Carrying Value [3],[4] 1,121,104   1,144,316
Excess MSRs [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
UPB of Underlying Mortgages [4] $ 91,277,078    
Weighted Average Life (Years) [1],[4] 5 years 3 months 18 days    
Amortized Cost Basis [2],[4] $ 205,633    
Carrying Value [3],[4] 247,957   250,662
Excess MSRs [Member] | Non-Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
UPB of Underlying Mortgages [4] $ 0    
Weighted Average Life (Years) [1],[4] 12 years 3 months 18 days    
Amortized Cost Basis [2],[4] $ 13,641    
Carrying Value [3],[4] 15,436   15,748
Excess MSRs [Member] | Non-Agency [Member] | Ocwen Serviced Pools [Member]      
Investment [Line Items]      
UPB of Underlying Mortgages [4] $ 136,143,859    
Interest in Excess MSR [4] 100.00%    
Weighted Average Life (Years) [1],[4] 6 years 3 months 18 days    
Amortized Cost Basis [2],[4] $ 811,778    
Carrying Value [3],[4] $ 857,711   877,906
Excess MSRs [Member] | Lower Range [Member] | Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR 32.50%    
Excess MSRs [Member] | Lower Range [Member] | Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
Interest in Excess MSR 32.50%    
Excess MSRs [Member] | Lower Range [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 33.30%    
Excess MSRs [Member] | Lower Range [Member] | Non-Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 33.30%    
Excess MSRs [Member] | Upper Range [Member] | Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR 66.70%    
Excess MSRs [Member] | Upper Range [Member] | Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
Interest in Excess MSR 66.70%    
Excess MSRs [Member] | Upper Range [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 80.00%    
Excess MSRs [Member] | Upper Range [Member] | Non-Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 80.00%    
Fortress [Member] | Excess MSRs [Member] | Non-Agency [Member] | Ocwen Serviced Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 0.00%    
Fortress [Member] | Excess MSRs [Member] | Lower Range [Member] | Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR 0.00%    
Fortress [Member] | Excess MSRs [Member] | Lower Range [Member] | Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
Interest in Excess MSR 0.00%    
Fortress [Member] | Excess MSRs [Member] | Lower Range [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 0.00%    
Fortress [Member] | Excess MSRs [Member] | Lower Range [Member] | Non-Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 0.00%    
Fortress [Member] | Excess MSRs [Member] | Upper Range [Member] | Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR 40.00%    
Fortress [Member] | Excess MSRs [Member] | Upper Range [Member] | Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
Interest in Excess MSR 40.00%    
Fortress [Member] | Excess MSRs [Member] | Upper Range [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 50.00%    
Fortress [Member] | Excess MSRs [Member] | Upper Range [Member] | Non-Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 50.00%    
Nationstar [Member] | Excess MSRs [Member]      
Investment [Line Items]      
Carrying Value $ 684,322   $ 698,304
Nationstar [Member] | Excess MSRs [Member] | Non-Agency [Member] | Ocwen Serviced Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 0.00%    
Nationstar [Member] | Excess MSRs [Member] | Lower Range [Member] | Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR 20.00%    
Nationstar [Member] | Excess MSRs [Member] | Lower Range [Member] | Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
Interest in Excess MSR 20.00%    
Nationstar [Member] | Excess MSRs [Member] | Lower Range [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 0.00%    
Nationstar [Member] | Excess MSRs [Member] | Lower Range [Member] | Non-Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 0.00%    
Nationstar [Member] | Excess MSRs [Member] | Upper Range [Member] | Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR 35.00%    
Nationstar [Member] | Excess MSRs [Member] | Upper Range [Member] | Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
Interest in Excess MSR 35.00%    
Nationstar [Member] | Excess MSRs [Member] | Upper Range [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 33.30%    
Nationstar [Member] | Excess MSRs [Member] | Upper Range [Member] | Non-Agency [Member] | Recapture Agreements [Member]      
Investment [Line Items]      
Interest in Excess MSR [4] 33.30%    
[1] Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[2] The amortized cost basis of the recapture agreements is determined based on the relative fair values of the recapture agreements and related Excess MSRs at the time they were acquired.
[3] Carrying Value represents the fair value of the pools or recapture agreements, as applicable.
[4] Excess MSR investments in which New Residential also invested in related Servicer Advances, including the basic fee component of the related MSR as of March 31, 2016 (Note 6).