Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Details)

v3.19.2
SEGMENT REPORTING (Details) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Dec. 31, 2018
Dec. 31, 2017
Segment Reporting Information [Line Items]            
Interest income $ 416,047 $ 403,805 $ 854,914 $ 787,378    
Interest expense 228,004 133,916 440,836 258,303    
Net interest income (expense) 188,043 269,889 414,078 529,075    
Impairment 22,311 16,289 35,107 41,966    
Servicing revenue, net of change in fair value of $(334,599), $(12,807), $(391,509), and $61,859, respectively (85,537) 146,193 80,316 363,429    
Gain on sale of originated mortgage loans, net 49,504 0 93,488 0    
Other income (loss) 25,567 (96,812) (15,213) 167,712    
Operating expenses 201,863 119,753 382,250 227,570    
Income (Loss) Before Income Taxes (46,597) 183,228 155,312 790,680    
Income tax expense (benefit) (21,577) (2,608) 24,420 (9,520)    
Net Income (Loss) (25,020) 185,836 130,892 800,200    
Noncontrolling interests in income (loss) of consolidated subsidiaries 6,923 11,078 17,241 21,189    
Net income (loss) attributable to common stockholders (31,943) 174,758 113,651 779,011    
Investments 26,807,138   26,807,138      
Cash and cash equivalents 406,038   406,038      
Restricted cash 159,151   159,151   $ 164,020  
Other assets 9,395,403   9,395,403      
Goodwill 24,645   24,645   24,645  
Total assets 36,792,375   36,792,375   31,691,013  
Debt 28,778,010   28,778,010   22,656,235  
Other liabilities 1,213,535   1,213,535      
Total liabilities 29,991,545   29,991,545   25,602,718  
Total equity 6,800,830 5,798,924 6,800,830 5,798,924 6,088,295 $ 4,796,162
Noncontrolling interests in equity of consolidated subsidiaries 82,865   82,865   90,625  
Total New Residential stockholders’ equity 6,717,965   6,717,965   $ 5,997,670  
Investments in equity method investees 158,954   158,954      
Servicing and Originations            
Segment Reporting Information [Line Items]            
Interest income 147,416 191,632 279,216 386,400    
Interest expense 71,883 55,735 138,369 110,765    
Net interest income (expense) 75,533 135,897 140,847 275,635    
Impairment 0 0 0 0    
Servicing revenue, net of change in fair value of $(334,599), $(12,807), $(391,509), and $61,859, respectively (85,537) 146,193 80,316 363,429    
Gain on sale of originated mortgage loans, net 49,504 0 93,488 0    
Other income (loss) (40,867) (122,940) (54,331) 140,371    
Operating expenses 162,334 50,392 289,176 102,875    
Income (Loss) Before Income Taxes (163,701) 108,758 (28,856) 676,560    
Income tax expense (benefit) (41,649) 203 (2,275) (6,953)    
Net Income (Loss) (122,052) 108,555 (26,581) 683,513    
Noncontrolling interests in income (loss) of consolidated subsidiaries 1,874 1,056 4,732 2,439    
Net income (loss) attributable to common stockholders (123,926) 107,499 (31,313) 681,074    
Investments 7,735,888   7,735,888      
Cash and cash equivalents 280,215   280,215      
Restricted cash 125,596   125,596      
Other assets 3,451,887   3,451,887      
Goodwill 24,645   24,645      
Total assets 11,618,231   11,618,231      
Debt 7,650,793   7,650,793      
Other liabilities 585,063   585,063      
Total liabilities 8,235,856   8,235,856      
Total equity 3,382,375   3,382,375      
Noncontrolling interests in equity of consolidated subsidiaries 60,234   60,234      
Total New Residential stockholders’ equity 3,322,141   3,322,141      
Investments in equity method investees 133,468   133,468      
Real Estate Securities            
Segment Reporting Information [Line Items]            
Interest income 168,489 115,592 372,962 216,725    
Interest expense 106,669 48,548 207,969 90,078    
Net interest income (expense) 61,820 67,044 164,993 126,647    
Impairment 8,859 12,631 16,375 19,301    
Servicing revenue, net of change in fair value of $(334,599), $(12,807), $(391,509), and $61,859, respectively 0 0 0 0    
Gain on sale of originated mortgage loans, net 0 0 0 0    
Other income (loss) (37,446) 16,783 (84,404) 27,352    
Operating expenses 1,096 643 2,285 940    
Income (Loss) Before Income Taxes 14,419 70,553 61,929 133,758    
Income tax expense (benefit) 0 0 0 0    
Net Income (Loss) 14,419 70,553 61,929 133,758    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0    
Net income (loss) attributable to common stockholders 14,419 70,553 61,929 133,758    
Investments 12,125,826   12,125,826      
Cash and cash equivalents 24,792   24,792      
Restricted cash 0   0      
Other assets 5,476,600   5,476,600      
Goodwill 0   0      
Total assets 17,627,218   17,627,218      
Debt 15,165,568   15,165,568      
Other liabilities 322,826   322,826      
Total liabilities 15,488,394   15,488,394      
Total equity 2,138,824   2,138,824      
Noncontrolling interests in equity of consolidated subsidiaries 0   0      
Total New Residential stockholders’ equity 2,138,824   2,138,824      
Investments in equity method investees 0   0      
Residential Mortgage Loans            
Segment Reporting Information [Line Items]            
Interest income 56,303 40,685 114,492 75,077    
Interest expense 40,622 18,614 76,473 34,925    
Net interest income (expense) 15,681 22,071 38,019 40,152    
Impairment 5,800 (9,430) (4) (4,247)    
Servicing revenue, net of change in fair value of $(334,599), $(12,807), $(391,509), and $61,859, respectively 0 0 0 0    
Gain on sale of originated mortgage loans, net 0 0 0 0    
Other income (loss) 113,092 5,727 125,491 (14,490)    
Operating expenses 7,963 10,275 17,283 19,222    
Income (Loss) Before Income Taxes 115,010 26,953 146,231 10,687    
Income tax expense (benefit) 20,050 (2,811) 26,594 (2,811)    
Net Income (Loss) 94,960 29,764 119,637 13,498    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0    
Net income (loss) attributable to common stockholders 94,960 29,764 119,637 13,498    
Investments 5,980,982   5,980,982      
Cash and cash equivalents 1,917   1,917      
Restricted cash 0   0      
Other assets 190,498   190,498      
Goodwill 0   0      
Total assets 6,173,397   6,173,397      
Debt 5,026,169   5,026,169      
Other liabilities 61,466   61,466      
Total liabilities 5,087,635   5,087,635      
Total equity 1,085,762   1,085,762      
Noncontrolling interests in equity of consolidated subsidiaries 0   0      
Total New Residential stockholders’ equity 1,085,762   1,085,762      
Investments in equity method investees 0   0      
Consumer Loans            
Segment Reporting Information [Line Items]            
Interest income 43,839 55,022 88,244 107,670    
Interest expense 8,830 11,019 18,025 22,535    
Net interest income (expense) 35,009 44,003 70,219 85,135    
Impairment 7,652 13,088 18,736 26,912    
Servicing revenue, net of change in fair value of $(334,599), $(12,807), $(391,509), and $61,859, respectively 0 0 0 0    
Gain on sale of originated mortgage loans, net 0 0 0 0    
Other income (loss) (12,204) 4,478 (7,673) 9,568    
Operating expenses 7,004 8,839 14,431 18,276    
Income (Loss) Before Income Taxes 8,149 26,554 29,379 49,515    
Income tax expense (benefit) 22 0 101 244    
Net Income (Loss) 8,127 26,554 29,278 49,271    
Noncontrolling interests in income (loss) of consolidated subsidiaries 5,049 10,022 12,509 18,750    
Net income (loss) attributable to common stockholders 3,078 16,532 16,769 30,521    
Investments 964,442   964,442      
Cash and cash equivalents 8,107   8,107      
Restricted cash 33,555   33,555      
Other assets 32,979   32,979      
Goodwill 0   0      
Total assets 1,039,083   1,039,083      
Debt 935,480   935,480      
Other liabilities 4,390   4,390      
Total liabilities 939,870   939,870      
Total equity 99,213   99,213      
Noncontrolling interests in equity of consolidated subsidiaries 22,631   22,631      
Total New Residential stockholders’ equity 76,582   76,582      
Investments in equity method investees 25,486   25,486      
Corporate            
Segment Reporting Information [Line Items]            
Interest income 0 874 0 1,506    
Interest expense 0 0 0 0    
Net interest income (expense) 0 874 0 1,506    
Impairment 0 0 0 0    
Servicing revenue, net of change in fair value of $(334,599), $(12,807), $(391,509), and $61,859, respectively 0 0 0 0    
Gain on sale of originated mortgage loans, net 0 0 0 0    
Other income (loss) 2,992 (860) 5,704 4,911    
Operating expenses 23,466 49,604 59,075 86,257    
Income (Loss) Before Income Taxes (20,474) (49,590) (53,371) (79,840)    
Income tax expense (benefit) 0 0 0 0    
Net Income (Loss) (20,474) (49,590) (53,371) (79,840)    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0    
Net income (loss) attributable to common stockholders (20,474) $ (49,590) (53,371) $ (79,840)    
Investments 0   0      
Cash and cash equivalents 91,007   91,007      
Restricted cash 0   0      
Other assets 243,439   243,439      
Goodwill 0   0      
Total assets 334,446   334,446      
Debt 0   0      
Other liabilities 239,790   239,790      
Total liabilities 239,790   239,790      
Total equity 94,656   94,656      
Noncontrolling interests in equity of consolidated subsidiaries 0   0      
Total New Residential stockholders’ equity 94,656   94,656      
Investments in equity method investees $ 0   $ 0