Quarterly report pursuant to Section 13 or 15(d)

SERVICER ADVANCE INVESTMENTS - Summary of Investments in Servicer Advances - Additional Information (Details)

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SERVICER ADVANCE INVESTMENTS - Summary of Investments in Servicer Advances - Additional Information (Details) - USD ($)
$ in Thousands
Sep. 30, 2019
Dec. 31, 2018
Investments in and Advances to Affiliates [Line Items]    
Outstanding Servicer Advances [1] $ 600,547 $ 735,846
Face Amount of Notes and Bonds Payable 30,524,956  
Servicer Advance Investments | Servicer Advances    
Investments in and Advances to Affiliates [Line Items]    
UPB of Underlying Mortgages 33,406,320 40,096,998
Outstanding Servicer Advances $ 492,480 $ 620,050
Servicer Advances to UPB of Underlying Residential Mortgage Loans 1.50% 1.50%
Face Amount of Notes and Bonds Payable $ 449,731 $ 574,117
Gross Loan-to-Value 87.30% 88.30%
Net Loan-to-Value 86.10% 87.20%
Gross Cost of Funds 3.80% 3.70%
Net Cost of Funds 3.10% 3.10%
[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.