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) - Recurring Basis [Member] - Level 3 [Member]
$ in Thousands
3 Months Ended
Mar. 31, 2016
USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Balance, beginning $ 10,809,815
Transfers from Level 3 0
Transfers to Level 3 0
Gains (losses) included in net income  
Included in other-than-temporary impairment (''OTTI'') on securities (3,254) [1]
Included in change in fair value of investments in excess mortgage servicing rights 7,926 [1]
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees 3,022 [1]
Included in change in fair value of investments in Servicer Advances (31,224)
Included in gain (loss) on settlement of investments, net (8,490)
Included in other income 1,000 [1]
Gains (losses) included in other comprehensive income, net of tax (15,837) [2]
Interest income 155,714
Purchases, sales and repayments  
Purchases 4,287,777
Proceeds from sales (38,168)
Proceeds from repayments (4,491,785)
Balance, ending 10,676,496
Non-Agency RMBS [Member]  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Balance, beginning 1,584,283
Transfers from Level 3 0 [3]
Transfers to Level 3 0 [3]
Gains (losses) included in net income  
Included in other-than-temporary impairment (''OTTI'') on securities (3,254) [1]
Included in change in fair value of investments in excess mortgage servicing rights 0 [1]
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees 0 [1]
Included in change in fair value of investments in Servicer Advances 0
Included in gain (loss) on settlement of investments, net (8,490)
Included in other income 268 [1]
Gains (losses) included in other comprehensive income, net of tax (15,837) [2]
Interest income 34,109
Purchases, sales and repayments  
Purchases 443,139
Proceeds from sales (38,168)
Proceeds from repayments (77,463)
Balance, ending 1,918,587
Servicer Advances [Member]  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Balance, beginning 7,426,794
Transfers from Level 3 0 [3]
Transfers to Level 3 0 [3]
Gains (losses) included in net income  
Included in other-than-temporary impairment (''OTTI'') on securities 0 [1]
Included in change in fair value of investments in excess mortgage servicing rights 0 [1]
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees 0 [1]
Included in change in fair value of investments in Servicer Advances (31,224)
Included in gain (loss) on settlement of investments, net 0
Included in other income 0 [1]
Gains (losses) included in other comprehensive income, net of tax 0 [2]
Interest income 78,637
Purchases, sales and repayments  
Purchases 3,844,638
Proceeds from sales 0
Proceeds from repayments (4,317,841)
Balance, ending 7,001,004
MSRs Agency [Member]  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Balance, beginning 437,201 [4]
Transfers from Level 3 0 [3],[4]
Transfers to Level 3 0 [3],[4]
Gains (losses) included in net income  
Included in other-than-temporary impairment (''OTTI'') on securities 0 [1],[4]
Included in change in fair value of investments in excess mortgage servicing rights 946 [1],[4]
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees 0 [1],[4]
Included in change in fair value of investments in Servicer Advances 0 [4]
Included in gain (loss) on settlement of investments, net 0 [4]
Included in other income 656 [1],[4]
Gains (losses) included in other comprehensive income, net of tax 0 [2],[4]
Interest income 9,622 [4]
Purchases, sales and repayments  
Purchases 0 [4]
Proceeds from sales 0 [4]
Proceeds from repayments (22,525) [4]
Balance, ending 425,900 [4]
MSRs Agency [Member] | Excess MSRs Investees [Member]  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Balance, beginning 217,221 [4],[5]
Transfers from Level 3 0 [3],[4],[5]
Transfers to Level 3 0 [3],[4],[5]
Gains (losses) included in net income  
Included in other-than-temporary impairment (''OTTI'') on securities 0 [1],[4],[5]
Included in change in fair value of investments in excess mortgage servicing rights 0 [1],[4],[5]
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees 3,022 [1],[4],[5]
Included in change in fair value of investments in Servicer Advances 0 [4],[5]
Included in gain (loss) on settlement of investments, net 0 [4],[5]
Included in other income 0 [1],[4],[5]
Gains (losses) included in other comprehensive income, net of tax 0 [2],[4],[5]
Interest income 0 [4],[5]
Purchases, sales and repayments  
Purchases 0 [4],[5]
Proceeds from sales 0 [4],[5]
Proceeds from repayments (10,342) [4],[5]
Balance, ending 209,901 [4],[5]
MSRs Non-Agency [Member]  
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]  
Balance, beginning 1,144,316 [4]
Transfers from Level 3 0 [3],[4]
Transfers to Level 3 0 [3],[4]
Gains (losses) included in net income  
Included in other-than-temporary impairment (''OTTI'') on securities 0 [1],[4]
Included in change in fair value of investments in excess mortgage servicing rights 6,980 [1],[4]
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees 0 [1],[4]
Included in change in fair value of investments in Servicer Advances 0 [4]
Included in gain (loss) on settlement of investments, net 0 [4]
Included in other income 76 [1],[4]
Gains (losses) included in other comprehensive income, net of tax 0 [2],[4]
Interest income 33,346 [4]
Purchases, sales and repayments  
Purchases 0 [4]
Proceeds from sales 0 [4]
Proceeds from repayments (63,614) [4]
Balance, ending $ 1,121,104 [4]
[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 and realized gains (losses) recorded during the period.
[2] These gains (losses) were included in net unrealized gain (loss) on securities in the Condensed Consolidated Statements of Comprehensive Income.
[3] Transfers are assumed to occur at the beginning of each respective period.
[4] Includes the recapture agreement for each respective pool.
[5] Amounts represent New Residential’s portion of the Excess MSRs held by the respective joint ventures in which New Residential has a 50% interest.