Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Inputs Used in Valuing Residential Mortgage Loans (Details)

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FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Inputs Used in Valuing Residential Mortgage Loans (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Mortgage Loans on Real Estate [Line Items]    
Valuation and Loss Provision/ (Reversal) In Current Year $ 6,745 $ 977
Weighted Average Life (Years) 1 year 2 months 26 days  
Reverse Mortgage Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Weighted Average Life (Years) [1],[2],[3] 4 years 4 months 17 days  
Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Weighted Average Life (Years) [3],[4] 5 years 6 months 21 days  
Residential Mortgage [Member]    
Mortgage Loans on Real Estate [Line Items]    
Valuation and Loss Provision/ (Reversal) In Current Year $ 16  
Discount Rate 5.60%  
Weighted Average Life (Years) [5] 2 years 7 months 21 days  
Loss Severity [6] 14.60%  
Residential Mortgage [Member] | Reverse Mortgage Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Valuation and Loss Provision/ (Reversal) In Current Year [7] $ 12  
Discount Rate [7] 10.00%  
Weighted Average Life (Years) [5],[7] 4 years 4 months 17 days  
Loss Severity [6],[7] 8.40%  
Residential Mortgage [Member] | Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Valuation and Loss Provision/ (Reversal) In Current Year $ 4  
Discount Rate 7.90%  
Weighted Average Life (Years) [5] 5 years 6 months 21 days  
Prepayment Rate 5.90%  
CDR [8] 2.50%  
Loss Severity [6] 58.30%  
Residential Mortgage [Member] | Non-Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Discount Rate 5.40%  
Weighted Average Life (Years) [5] 2 years 5 months 22 days  
Prepayment Rate 1.50%  
Loss Severity [6] 13.20%  
Residential Mortgage [Member] | Carrying Value [Member]    
Mortgage Loans on Real Estate [Line Items]    
Carrying Value $ 580,539  
Residential Mortgage [Member] | Carrying Value [Member] | Reverse Mortgage Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Carrying Value [7] 18,142  
Residential Mortgage [Member] | Carrying Value [Member] | Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Carrying Value 19,462  
Residential Mortgage [Member] | Carrying Value [Member] | Non-Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Carrying Value 542,935  
Residential Mortgage [Member] | Fair Value [Member]    
Mortgage Loans on Real Estate [Line Items]    
Fair Value 583,651  
Residential Mortgage [Member] | Fair Value [Member] | Reverse Mortgage Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Fair Value [7] 18,142  
Residential Mortgage [Member] | Fair Value [Member] | Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Fair Value 20,484  
Residential Mortgage [Member] | Fair Value [Member] | Non-Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Fair Value $ 545,025  
Fair Value, Measurements, Nonrecurring [Member]    
Mortgage Loans on Real Estate [Line Items]    
Discount Rate 4.90%  
Weighted Average Life (Years) [9] 3 years 10 months 21 days  
Prepayment Rate 4.20%  
Loss Severity [10] 28.40%  
Fair Value, Measurements, Nonrecurring [Member] | Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Discount Rate 3.80%  
Weighted Average Life (Years) [9] 4 years 8 months 7 days  
Prepayment Rate 6.00%  
CDR [11] 0.90%  
Loss Severity [10] 37.30%  
Fair Value, Measurements, Nonrecurring [Member] | Non-Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Discount Rate 5.70%  
Weighted Average Life (Years) [9] 3 years 4 months 9 days  
Prepayment Rate 3.00%  
Loss Severity [10] 22.40%  
Fair Value, Measurements, Nonrecurring [Member] | Consumer Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Discount Rate 9.50%  
Weighted Average Life (Years) [9] 4 years 2 months 14 days  
Prepayment Rate 18.50%  
CDR 5.60%  
Loss Severity [10] 87.20%  
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member]    
Mortgage Loans on Real Estate [Line Items]    
Fair Value $ 377,355  
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member] | Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Fair Value 151,001  
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member] | Non-Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Fair Value 226,354  
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member] | Consumer Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Fair Value $ 1,970,565  
[1] FICO scores are not used in determining how much a borrower can access via a reverse mortgage loan.
[2] Represents a 70% participation interest that New Residential holds in a portfolio of reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.4 million. Approximately 60% of these loans have reached a termination event. As a result of the termination event, each such loan has matured and the borrower can no longer make draws on these loans.
[3] The weighted average life is based on the expected timing of the receipt of cash flows.
[4] Includes loans that are current or less than 30 days past due at acquisition where New Residential expects to collect all contractually required principal and interest payments. Presented net of unamortized premiums of $8.7 million.
[5] The weighted average life is based on the expected timing of the receipt of cash flows.
[6] Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance.
[7] Carrying value and fair value represent a 70% participation interest New Residential holds in the portfolio of reverse mortgage loans.
[8] Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.
[9] The weighted average life is based on the expected timing of the receipt of cash flows.
[10] Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance.
[11] Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.