Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Details)

v3.19.3
SEGMENT REPORTING (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Dec. 31, 2018
Dec. 31, 2017
Segment Reporting Information [Line Items]            
Interest income $ 448,127 $ 425,524 $ 1,303,041 $ 1,212,902    
Interest expense 245,902 162,806 686,738 421,109    
Net interest income (expense) 202,225 262,718 616,303 791,793    
Impairment (5,123) 9,360 29,984 51,326    
Servicing revenue, net of change in fair value of $(228,405), $(26,741), $(619,914), and $35,118, respectively 53,050 175,355 133,366 538,784    
Gain on sale of originated mortgage loans, net 100,541 45,732 194,029 45,732    
Other income (loss) 128,846 (83,298) 113,633 84,414    
Operating expenses 250,565 192,107 632,815 419,677    
Income (Loss) Before Income Taxes 239,220 199,040 394,532 989,720    
Income tax expense (benefit) (5,440) 3,563 18,980 (5,957)    
Net Income (Loss) 244,660 195,477 375,552 995,677    
Noncontrolling interests in income (loss) of consolidated subsidiaries 14,738 10,869 31,979 32,058    
Dividends on Preferred Stock 5,338 0 5,338 0    
Net income (loss) attributable to common stockholders 224,584 184,608 338,235 963,619    
Investments 31,576,630   31,576,630      
Cash and cash equivalents 738,219   738,219      
Restricted cash 163,148   163,148   $ 164,020  
Other assets 8,827,942   8,827,942      
Goodwill 41,986   41,986   24,645  
Total assets 41,347,925   41,347,925   31,691,013  
Debt 30,516,231   30,516,231   22,656,235  
Other liabilities 3,569,577   3,569,577      
Total liabilities 34,085,808   34,085,808   25,602,718  
Total equity 7,262,117 5,837,048 7,262,117 5,837,048 6,088,295 $ 4,796,162
Noncontrolling interests in equity of consolidated subsidiaries 83,652   83,652   90,625  
Total New Residential stockholders’ equity 7,178,465   7,178,465   $ 5,997,670  
Investments in equity method investees 272,167   272,167      
Servicing and Originations            
Segment Reporting Information [Line Items]            
Interest income 135,892 187,584 396,662 574,379    
Interest expense 69,679 61,706 203,940 172,471    
Net interest income (expense) 66,213 125,878 192,722 401,908    
Impairment 0 0 0 0    
Servicing revenue, net of change in fair value of $(228,405), $(26,741), $(619,914), and $35,118, respectively 53,050 175,355 133,366 538,784    
Gain on sale of originated mortgage loans, net 100,541 45,732 194,029 45,732    
Other income (loss) (38,547) (92,243) (92,878) 48,128    
Operating expenses 168,100 132,542 457,276 235,417    
Income (Loss) Before Income Taxes 13,157 122,180 (30,037) 799,135    
Income tax expense (benefit) 10,749 495 8,474 (6,458)    
Net Income (Loss) 2,408 121,685 (38,511) 805,593    
Noncontrolling interests in income (loss) of consolidated subsidiaries 4,141 1,086 8,873 3,525    
Dividends on Preferred Stock 0   0      
Net income (loss) attributable to common stockholders (1,733) 120,599 (47,384) 802,068    
Investments 6,374,099   6,374,099      
Cash and cash equivalents 197,607   197,607      
Restricted cash 129,504   129,504      
Other assets 3,378,631   3,378,631      
Goodwill 41,986   41,986      
Total assets 10,121,827   10,121,827      
Debt 6,192,811   6,192,811      
Other liabilities 600,622   600,622      
Total liabilities 6,793,433   6,793,433      
Total equity 3,328,394   3,328,394      
Noncontrolling interests in equity of consolidated subsidiaries 61,132   61,132      
Total New Residential stockholders’ equity 3,267,262   3,267,262      
Investments in equity method investees 249,134   249,134      
Real Estate Securities            
Segment Reporting Information [Line Items]            
Interest income 184,933 138,197 557,895 354,922    
Interest expense 123,023 67,117 330,992 157,195    
Net interest income (expense) 61,910 71,080 226,903 197,727    
Impairment 5,567 3,889 21,942 23,190    
Servicing revenue, net of change in fair value of $(228,405), $(26,741), $(619,914), and $35,118, respectively 0 0 0 0    
Gain on sale of originated mortgage loans, net 0 0 0 0    
Other income (loss) 116,081 17,994 31,677 45,346    
Operating expenses 1,839 63 4,124 1,003    
Income (Loss) Before Income Taxes 170,585 85,122 232,514 218,880    
Income tax expense (benefit) 0 0 0 0    
Net Income (Loss) 170,585 85,122 232,514 218,880    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0    
Dividends on Preferred Stock 0   0      
Net income (loss) attributable to common stockholders 170,585 85,122 232,514 218,880    
Investments 16,853,910   16,853,910      
Cash and cash equivalents 43,604   43,604      
Restricted cash 0   0      
Other assets 4,939,205   4,939,205      
Goodwill 0   0      
Total assets 21,836,719   21,836,719      
Debt 17,196,772   17,196,772      
Other liabilities 2,608,316   2,608,316      
Total liabilities 19,805,088   19,805,088      
Total equity 2,031,631   2,031,631      
Noncontrolling interests in equity of consolidated subsidiaries 0   0      
Total New Residential stockholders’ equity 2,031,631   2,031,631      
Investments in equity method investees 0   0      
Residential Mortgage Loans            
Segment Reporting Information [Line Items]            
Interest income 86,971 48,782 219,909 123,464    
Interest expense 45,707 23,662 126,288 58,587    
Net interest income (expense) 41,264 25,120 93,621 64,877    
Impairment (16,553) (4,436) (16,557) (8,683)    
Servicing revenue, net of change in fair value of $(228,405), $(26,741), $(619,914), and $35,118, respectively 0 0 0 0    
Gain on sale of originated mortgage loans, net 0 0 0 0    
Other income (loss) 55,152 (12,729) 180,643 (27,219)    
Operating expenses 14,006 6,436 31,289 25,658    
Income (Loss) Before Income Taxes 98,963 10,391 259,532 20,683    
Income tax expense (benefit) (15,546) 3,100 11,048 289    
Net Income (Loss) 114,509 7,291 248,484 20,394    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0    
Dividends on Preferred Stock 0   0      
Net income (loss) attributable to common stockholders 114,509 7,291 248,484 20,394    
Investments 7,444,405   7,444,405      
Cash and cash equivalents 7,281   7,281      
Restricted cash 0   0      
Other assets 247,431   247,431      
Goodwill 0   0      
Total assets 7,699,117   7,699,117      
Debt 6,248,142   6,248,142      
Other liabilities 68,838   68,838      
Total liabilities 6,316,980   6,316,980      
Total equity 1,382,137   1,382,137      
Noncontrolling interests in equity of consolidated subsidiaries 0   0      
Total New Residential stockholders’ equity 1,382,137   1,382,137      
Investments in equity method investees 0   0      
Consumer Loans            
Segment Reporting Information [Line Items]            
Interest income 40,331 50,961 128,575 158,631    
Interest expense 7,493 10,321 25,518 32,856    
Net interest income (expense) 32,838 40,640 103,057 125,775    
Impairment 5,863 9,907 24,599 36,819    
Servicing revenue, net of change in fair value of $(228,405), $(26,741), $(619,914), and $35,118, respectively 0 0 0 0    
Gain on sale of originated mortgage loans, net 0 0 0 0    
Other income (loss) (2,651) 3,795 (10,324) 13,363    
Operating expenses 3,965 8,467 18,396 26,743    
Income (Loss) Before Income Taxes 20,359 26,061 49,738 75,576    
Income tax expense (benefit) (643) (32) (542) 212    
Net Income (Loss) 21,002 26,093 50,280 75,364    
Noncontrolling interests in income (loss) of consolidated subsidiaries 10,597 9,783 23,106 28,533    
Dividends on Preferred Stock 0   0      
Net income (loss) attributable to common stockholders 10,405 16,310 27,174 46,831    
Investments 904,216   904,216      
Cash and cash equivalents 12,091   12,091      
Restricted cash 33,644   33,644      
Other assets 34,384   34,384      
Goodwill 0   0      
Total assets 984,335   984,335      
Debt 878,506   878,506      
Other liabilities 14,897   14,897      
Total liabilities 893,403   893,403      
Total equity 90,932   90,932      
Noncontrolling interests in equity of consolidated subsidiaries 22,520   22,520      
Total New Residential stockholders’ equity 68,412   68,412      
Investments in equity method investees 23,033   23,033      
Corporate            
Segment Reporting Information [Line Items]            
Interest income 0 0 0 1,506    
Interest expense 0 0 0 0    
Net interest income (expense) 0 0 0 1,506    
Impairment 0 0 0 0    
Servicing revenue, net of change in fair value of $(228,405), $(26,741), $(619,914), and $35,118, respectively 0 0 0 0    
Gain on sale of originated mortgage loans, net 0 0 0 0    
Other income (loss) (1,189) (115) 4,515 4,796    
Operating expenses 62,655 44,599 121,730 130,856    
Income (Loss) Before Income Taxes (63,844) (44,714) (117,215) (124,554)    
Income tax expense (benefit) 0 0 0 0    
Net Income (Loss) (63,844) (44,714) (117,215) (124,554)    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0 0 0    
Dividends on Preferred Stock 5,338   5,338      
Net income (loss) attributable to common stockholders (69,182) $ (44,714) (122,553) $ (124,554)    
Investments 0   0      
Cash and cash equivalents 477,636   477,636      
Restricted cash 0   0      
Other assets 228,291   228,291      
Goodwill 0   0      
Total assets 705,927   705,927      
Debt 0   0      
Other liabilities 276,904   276,904      
Total liabilities 276,904   276,904      
Total equity 429,023   429,023      
Noncontrolling interests in equity of consolidated subsidiaries 0   0      
Total New Residential stockholders’ equity 429,023   429,023      
Investments in equity method investees $ 0   $ 0