Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.19.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Investments in:    
Excess mortgage servicing rights, at fair value $ 398,064 $ 447,860
Excess mortgage servicing rights, equity method investees, at fair value 132,259 147,964
Mortgage servicing rights, at fair value 3,431,968 2,884,100
Mortgage servicing rights financing receivables, at fair value 1,811,261 1,644,504
Total [1] 600,547 735,846
Real estate and other securities, available-for-sale 16,853,910 11,636,581
Residential mortgage loans, held-for-investment (includes $113,133 and $121,088 at fair value at September 30, 2019 and December 31, 2018, respectively) [1] 613,657 735,329
Residential mortgage loans 1,349,997 932,480
Residential mortgage loans, held-for-sale, at fair value 5,206,251 2,808,529
Consumer loans, held-for-investment [1] 881,183 1,072,202
Cash and cash equivalents [1] 738,219 251,058
Restricted cash 163,148 164,020
Servicer advances receivable 2,911,798 3,277,796
Trades receivable 4,487,772 3,925,198
Deferred tax asset, net 43,372 65,832
Other assets (includes $168,532 and $121,602 in residential mortgage loan subject to repurchase at September 30, 2019 and December 31,2018, respectively) 1,724,519 961,714
Total assets 41,347,925 31,691,013
Liabilities    
Repurchase agreements 23,110,359 15,553,969
Notes and bonds payable (includes $474,309 and $117,048 at fair value at September 30, 2019 and December 31, 2018, respectively) [1] 7,405,872 7,102,266
Trades payable 2,536,188 2,048,348
Dividends payable 213,098 184,552
Accrued expenses and other liabilities (includes $168,532 and $121,602 in residential mortgage loans repurchase liabilities at September 30, 2019 and December 31, 2019, respectively) [1] 820,291 713,583
Total liabilities 34,085,808 25,602,718
Commitments and Contingencies
Equity    
Common Stock, $0.01 par value, 2,000,000,000 shares authorized, 415,520,780 and 369,104,429 issued and outstanding at September 30, 2019 and December 31, 2018, respectively 4,156 3,692
Additional paid-in capital 5,498,226 4,746,242
Retained earnings 545,713 830,713
Accumulated other comprehensive income (loss) 706,926 417,023
Total New Residential stockholders’ equity 7,178,465 5,997,670
Noncontrolling interests in equity of consolidated subsidiaries 83,652 90,625
Total equity 7,262,117 6,088,295
Liabilities and Equity 41,347,925 31,691,013
7.50% Series A Preferred Stock    
Equity    
Series A and Series B Preferred Stock 150,026 0
7.125% Series B Preferred Stock    
Equity    
Series A and Series B Preferred Stock $ 273,418 $ 0
[1]
New Residential’s Condensed Consolidated Balance Sheets include the assets and liabilities of certain consolidated VIEs, Advance Purchaser LLC (the “Buyer”) (Note 6), the RPL Borrowers (defined in Note 8), Shellpoint Asset Funding Trust 2013-1 (“SAFT 2013-1”) and the Shelter retail mortgage origination joint ventures (“Shelter JVs”) (Note 8) and the Consumer Loan SPVs (Note 9), which primarily hold investments in Servicer Advance Investments, residential mortgage loans and consumer loans, respectively, financed with notes and bonds payable. The balance sheets of the Buyer, the RPL Borrowers, SAFT 2013-1, Shelter JVs and the Consumer Loan SPVs are included in Notes 6, 8 and 9, respectively. The creditors of the Buyer, the RPL Borrowers, SAFT 2013-1, Shelter JVs and the Consumer Loan SPVs do not have recourse to the general credit of New Residential and the assets of the Buyer, the RPL Borrowers, SAFT 2013-1, Shelter JVs and the Consumer Loan SPVs are not directly available to satisfy New Residential’s obligations.