Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS - Schedule of Debt Obligations - Carrying Value (Details)

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DEBT OBLIGATIONS - Schedule of Debt Obligations - Carrying Value (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Debt Instrument [Roll Forward]    
Beginning balance [1] $ 11,292,622  
Borrowings 4,993,318 $ 1,121,121
Repayments (5,062,857) $ (2,016,777)
Ending balance [1] 12,844,363  
Servicer Advances [Member]    
Debt Instrument [Roll Forward]    
Ending balance [2] 6,868,732  
Real Estate Securities [Member]    
Debt Instrument [Roll Forward]    
Ending balance 3,120,244  
Real Estate Loans and REO [Member]    
Debt Instrument [Roll Forward]    
Ending balance 836,370  
Consumer Loans [Member]    
Debt Instrument [Roll Forward]    
Ending balance 1,837,415  
Other [Member]    
Debt Instrument [Roll Forward]    
Ending balance 181,602  
Repurchase Agreements [Member]    
Debt Instrument [Roll Forward]    
Borrowings 4,993,318  
Repayments (5,062,857)  
Capitalized deferred financing costs, net of amortization (3)  
Repurchase Agreements [Member] | Servicer Advances [Member]    
Debt Instrument [Roll Forward]    
Borrowings [2] 0  
Repayments [2] 0  
Capitalized deferred financing costs, net of amortization [2] 0  
Repurchase Agreements [Member] | Real Estate Securities [Member]    
Debt Instrument [Roll Forward]    
Borrowings 4,863,459  
Repayments (4,760,372)  
Capitalized deferred financing costs, net of amortization 0  
Repurchase Agreements [Member] | Real Estate Loans and REO [Member]    
Debt Instrument [Roll Forward]    
Borrowings 129,859  
Repayments (296,262)  
Capitalized deferred financing costs, net of amortization (3)  
Repurchase Agreements [Member] | Consumer Loans [Member]    
Debt Instrument [Roll Forward]    
Borrowings 0  
Repayments (6,223)  
Capitalized deferred financing costs, net of amortization 0  
Repurchase Agreements [Member] | Other [Member]    
Debt Instrument [Roll Forward]    
Borrowings 0  
Repayments 0  
Capitalized deferred financing costs, net of amortization 0  
Notes Payable [Member]    
Debt Instrument [Roll Forward]    
Acquired borrowings, net of discount 1,803,192  
Borrowings 1,713,002  
Repayments (1,894,548)  
Discount on borrowings, net of amortization 278  
Capitalized deferred financing costs, net of amortization (641)  
Notes Payable [Member] | Servicer Advances [Member]    
Debt Instrument [Roll Forward]    
Beginning balance [1],[3] 7,047,061  
Acquired borrowings, net of discount [2] 0  
Borrowings [2] 1,713,002  
Repayments [2] (1,890,683)  
Discount on borrowings, net of amortization [2] 0  
Capitalized deferred financing costs, net of amortization [2] (648)  
Ending balance [1],[3] 6,868,732  
Notes Payable [Member] | Real Estate Securities [Member]    
Debt Instrument [Roll Forward]    
Acquired borrowings, net of discount 0  
Borrowings 0  
Repayments 0  
Discount on borrowings, net of amortization 0  
Capitalized deferred financing costs, net of amortization 0  
Notes Payable [Member] | Real Estate Loans and REO [Member]    
Debt Instrument [Roll Forward]    
Acquired borrowings, net of discount 0  
Borrowings 0  
Repayments (2,204)  
Discount on borrowings, net of amortization 0  
Capitalized deferred financing costs, net of amortization 0  
Notes Payable [Member] | Consumer Loans [Member]    
Debt Instrument [Roll Forward]    
Beginning balance [1],[4] 0  
Acquired borrowings, net of discount 1,803,192  
Borrowings 0  
Repayments 0  
Discount on borrowings, net of amortization 0  
Capitalized deferred financing costs, net of amortization 0  
Ending balance [1],[4] 1,803,192  
Notes Payable [Member] | Other [Member]    
Debt Instrument [Roll Forward]    
Acquired borrowings, net of discount 0  
Borrowings 0  
Repayments (1,661)  
Discount on borrowings, net of amortization 278  
Capitalized deferred financing costs, net of amortization 7  
Previously Reported [Member]    
Debt Instrument [Roll Forward]    
Beginning balance 11,292,622  
Previously Reported [Member] | Servicer Advances [Member]    
Debt Instrument [Roll Forward]    
Beginning balance [2] 7,047,061  
Previously Reported [Member] | Real Estate Securities [Member]    
Debt Instrument [Roll Forward]    
Beginning balance 3,017,157  
Previously Reported [Member] | Real Estate Loans and REO [Member]    
Debt Instrument [Roll Forward]    
Beginning balance 1,004,980  
Previously Reported [Member] | Consumer Loans [Member]    
Debt Instrument [Roll Forward]    
Beginning balance 40,446  
Previously Reported [Member] | Other [Member]    
Debt Instrument [Roll Forward]    
Beginning balance $ 182,978  
[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] $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%.
[4] 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.