Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS - Schedule of Debt Obligations (Details)

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DEBT OBLIGATIONS - Schedule of Debt Obligations (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Dec. 31, 2015
Debt Instrument [Line Items]    
Outstanding Face Amount $ 12,863,125  
Carrying Value [1] $ 12,844,363 $ 11,292,622
Weighted Average Funding Cost 3.02%  
Weighted Average Life (Years) 1 year 2 months 26 days  
Servicer Advances [Member]    
Debt Instrument [Line Items]    
Carrying Value [2] $ 6,868,732  
Consumer Loans [Member]    
Debt Instrument [Line Items]    
Carrying Value 1,837,415  
Repurchase Agreements [Member] | Agency RMBS [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [3],[4] 1,629,971  
Carrying Value [1],[3],[4] $ 1,629,971 1,683,305
Weighted Average Funding Cost [3],[4] 0.70%  
Weighted Average Life (Years) [3],[4] 1 month 20 days  
Repurchase Agreements [Member] | Agency RMBS [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [3],[4] 7 months 22 days  
Outstanding Face Amount of Collateral [3],[4] $ 1,612,119  
Amortized Cost Basis of Collateral [3],[4] 1,667,876  
Carrying Value of Collateral [3],[4] 1,691,144  
Repurchase Agreements [Member] | Non-Agency RMBS [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [4],[5] 1,490,273  
Carrying Value [1],[4],[5] $ 1,490,273 1,333,852
Weighted Average Funding Cost [4],[5] 1.96%  
Weighted Average Life (Years) [4],[5] 1 month 5 days  
Repurchase Agreements [Member] | Non-Agency RMBS [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [4],[5] 7 years 2 months 19 days  
Outstanding Face Amount of Collateral [4],[5] $ 3,599,118  
Amortized Cost Basis of Collateral [4],[5] 1,788,871  
Carrying Value of Collateral [4],[5] 1,777,260  
Repurchase Agreements [Member] | Residential Mortgage [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [4],[6] 723,954  
Carrying Value [1],[4],[6] $ 723,167 907,993
Weighted Average Funding Cost [4],[6] 2.87%  
Weighted Average Life (Years) [4],[6] 7 months 24 days  
Repurchase Agreements [Member] | Residential Mortgage [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [4],[6] 3 years 1 month 15 days  
Outstanding Face Amount of Collateral [4],[6] $ 1,119,845  
Amortized Cost Basis of Collateral [4],[6] 886,918  
Carrying Value of Collateral [4],[6] 884,110  
Repurchase Agreements [Member] | Real Estate Owned [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [4],[7],[8] 95,983  
Carrying Value [1],[4],[7],[8] $ 95,878 77,458
Weighted Average Funding Cost [4],[7],[8] 2.76%  
Weighted Average Life (Years) [4],[7],[8] 7 months 2 days  
Repurchase Agreements [Member] | Real Estate Owned [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Carrying Value of Collateral [4],[7],[8] $ 108,330  
Repurchase Agreements [Member] | Consumer Loan Investment [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [4],[9] 34,223  
Carrying Value [1],[4],[9] $ 34,223 40,446
Weighted Average Funding Cost [4],[9] 4.11%  
Weighted Average Life (Years) [4],[9] 1 month 7 days  
Repurchase Agreements [Member] | Consumer Loan Investment [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [4],[9] 4 years 2 months 14 days  
Carrying Value of Collateral [4],[9] $ 71,250  
Repurchase Agreements [Member] | Total Repurchase Agreements [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [4] 3,974,404  
Carrying Value [1],[4] $ 3,973,512 4,043,054
Weighted Average Funding Cost [4] 1.65%  
Weighted Average Life (Years) [4] 2 months 15 days  
Notes Payable [Member] | Residential Mortgage [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [10] $ 13,786  
Carrying Value [1],[10] $ 13,786 19,529
Weighted Average Funding Cost [10] 3.30%  
Weighted Average Life (Years) [10] 6 months 17 days  
Notes Payable [Member] | Residential Mortgage [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [10] 4 years 4 months 24 days  
Outstanding Face Amount of Collateral [10] $ 20,801  
Amortized Cost Basis of Collateral [10] 13,914  
Carrying Value of Collateral [10] 12,809  
Notes Payable [Member] | Real Estate Owned [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount 3,539  
Carrying Value [1] $ 3,539 0
Weighted Average Funding Cost 3.30%  
Weighted Average Life (Years) 6 months 17 days  
Notes Payable [Member] | Real Estate Owned [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Carrying Value of Collateral $ 5,333  
Notes Payable [Member] | Secured Corporate Note [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [11] 182,772  
Carrying Value [1],[11] $ 181,602 182,978
Weighted Average Funding Cost [11] 5.69%  
Weighted Average Life (Years) [11] 1 year 24 days  
Notes Payable [Member] | Secured Corporate Note [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [11] 5 years 2 months 12 days  
Outstanding Face Amount of Collateral [11] $ 89,074,745  
Amortized Cost Basis of Collateral [11] 212,250  
Carrying Value of Collateral [11] 258,422  
Notes Payable [Member] | Servicer Advances [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [12] 6,880,413  
Carrying Value [1],[12] $ 6,868,732 7,047,061
Weighted Average Funding Cost [12] 3.44%  
Weighted Average Life (Years) [12] 1 year 2 months 6 days  
Notes Payable [Member] | Servicer Advances [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [12] 4 years 5 months 21 days  
Outstanding Face Amount of Collateral [12] $ 7,203,924  
Amortized Cost Basis of Collateral [12] 7,005,501  
Carrying Value of Collateral [12] 7,001,004  
Notes Payable [Member] | Consumer Loans [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [13] 1,808,211  
Carrying Value [1],[13] $ 1,803,192 0
Weighted Average Funding Cost [13] 4.14%  
Weighted Average Life (Years) [13] 3 years 8 months 26 days  
Notes Payable [Member] | Consumer Loans [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [13] 4 years 2 months 14 days  
Outstanding Face Amount of Collateral [13] $ 1,986,162  
Amortized Cost Basis of Collateral [13] 1,951,879  
Carrying Value of Collateral [13] 1,951,879  
Notes Payable [Member] | Total Notes Payable [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount 8,888,721  
Carrying Value [1] $ 8,870,851 $ 7,249,568
Weighted Average Funding Cost 3.63%  
Weighted Average Life (Years) 1 year 8 months 12 days  
[1] Net of deferred financing costs.
[2] New Residential net settles daily borrowings and repayments of the Notes and Bonds Payable on its Servicer Advances.
[3] All of the Agency RMBS repurchase agreements have a fixed rate. Collateral amounts include approximately $1.5 billion of related trade and other receivables.
[4] These repurchase agreements had approximately $6.7 million of associated accrued interest payable as of March 31, 2016.
[5] All of the Non-Agency RMBS repurchase agreements have LIBOR-based floating interest rates. This includes repurchase agreements of $145.8 million on retained servicer advance bonds.
[6] All of these repurchase agreements have LIBOR-based floating interest rates.
[7] All of these repurchase agreements have LIBOR-based floating interest rates.
[8] Includes financing collateralized by receivables including claims from FHA on Ginnie Mae 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.
[9] The repurchase agreement bears interest equal to three-month LIBOR plus 3.50% and is collateralized by 56% of New Residential’s interest in the Consumer Loan Companies (Note 9).
[10] The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 2.875%.
[11] 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 amount of the collateral represents the UPB of the residential mortgage loans underlying the Excess MSRs that secure this corporate note.
[12] $2.7 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 1.7% to 2.2%.
[13] Represents the debt assumed in the SpringCastle Transaction (Note 1), which is comprised of the following classes of asset-backed notes (collectively, the “2014-A Notes”) held by third parties: $850.2 million UPB of Class A notes with a coupon of 2.7% and a stated maturity date in May 2023 (the “Class A Notes”); $427.0 million UPB of Class B notes with a coupon of 4.61% and a stated maturity date in October 2027 (the “Class B Notes”); $331.2 million UPB of Class C notes with a coupon of 5.59% and a stated maturity date in October 2033 (the “Class C Notes”); and $199.8 million UPB of Class D notes with a coupon of 6.82% and a stated maturity date in April 2034 (the “Class D Notes”). Prior to the payment date in October 2016, the redemption price for any class of the outstanding 2014-A Notes shall be the sum of (i) 100% of the outstanding principal balance of the 2014-A Notes of the applicable class to be redeemed, plus (ii) the applicable Specified Call Premium Amount (as defined below) for such 2014-A Notes, plus (iii) accrued and unpaid interest and fees in respect of such 2014-A Notes. On or after the payment date occurring in October 2016, the redemption price for any class of 2014-A Notes shall be the sum of (i) 100% of the outstanding principal balance of the 2014-A Notes of the applicable class to be redeemed, plus (ii) accrued and unpaid interest and fees in respect of such 2014-A Notes. The “Specified Call Premium Amount” on any payment date for any class of 2014-A Notes shall mean (i) in the case of Class A Notes, an amount equal to 1.00% of the outstanding principal balance of the Class A Notes to be redeemed and (ii) in the case of the Class B Notes, the Class C Notes and the Class D Notes, an amount equal to (a) the product of (1) with respect to the Class B Notes, 0.75%, with respect to the Class C Notes, 1.00% and with respect to the Class D Notes, 2.00%, times (2) the outstanding principal balance of the 2014-A Notes of such class to be redeemed on such payment date, times (3) the number of days, computed on a 30/360 basis, from and including such payment date to but excluding the payment date occurring in October 2016, divided by (b) 360.