Annual report pursuant to Section 13 and 15(d)

INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES - Summary of Real Estate Securities (Details)

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INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES - Summary of Real Estate Securities (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
security
bond
Dec. 31, 2018
USD ($)
security
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 36,159,591 $ 22,152,845
Amortized Cost Basis 18,782,175 11,212,428
Carrying Value $ 19,477,728 11,636,581
Weighted Average Life (Years) 24 days  
Investments $ 34,337,137 23,318,701
Bonds    
Debt Securities, Available-for-sale [Line Items]    
Carrying Value $ 1,129,300  
Number of bonds which New Residential was unable to obtain rating information | bond 340  
Residual Bonds    
Debt Securities, Available-for-sale [Line Items]    
Investments $ 41,000  
Non-Agency Bonds    
Debt Securities, Available-for-sale [Line Items]    
Investments 3,400  
Agency    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 11,301,603 2,613,395
Amortized Cost Basis 11,474,338 2,657,917
Gross Unrealized Gains 57,221 7,744
Gross Unrealized Losses (11,616) (43)
Carrying Value $ 11,519,943 $ 2,665,618
Number of Securities 43 31
Weighted Average Rating AAA AAA
Weighted Average Coupon 3.17% 4.01%
Weighted Average Yield 2.78% 3.70%
Weighted Average Life (Years) 6 years 8 years 1 month 6 days
Agency | Fixed Rate Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 11,300,000 $ 2,600,000
Agency | Floating Rate Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 0 0
Non-Agency    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 24,857,988 19,539,450
Amortized Cost Basis 7,307,837 8,554,511
Gross Unrealized Gains 689,158 517,861
Gross Unrealized Losses (39,210) (101,409)
Carrying Value $ 7,957,785 $ 8,970,963
Number of Securities 997 897
Weighted Average Rating B+ B+
Weighted Average Coupon 2.90% 3.40%
Weighted Average Yield 4.70% 5.63%
Weighted Average Life (Years) 7 years 6 years 10 months 24 days
Weighted Average Principal Subordination 11.00% 12.40%
Non-Agency | Fixed Rate Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 5,400,000 $ 3,800,000
Residual and interest - only notional amount 3,200,000 1,500,000
Non-Agency | Floating Rate Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 19,500,000 15,700,000
Residual and interest - only notional amount 12,200,000 7,400,000
Total/Weighted Average    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 36,159,591 22,152,845
Amortized Cost Basis 18,782,175 11,212,428
Gross Unrealized Gains 746,379 525,605
Gross Unrealized Losses (50,826) (101,452)
Carrying Value $ 19,477,728 $ 11,636,581
Number of Securities | security 1,040 928
Weighted Average Rating A+ BB+
Weighted Average Coupon 3.03% 3.53%
Weighted Average Yield 3.53% 5.17%
Weighted Average Life (Years) 6 years 4 months 24 days 7 years 2 months 12 days
Corporate bond    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 85,000 $ 85,000
Amortized Cost Basis 85,000 85,000
Gross Unrealized Gains 0 0
Gross Unrealized Losses (1,262) (12,325)
Carrying Value $ 83,738 $ 72,675
Number of Securities | security 1 1
Weighted Average Rating B- B-
Weighted Average Coupon 8.25% 8.25%
Weighted Average Yield 8.25% 8.25%
Weighted Average Life (Years) 5 years 3 months 18 days 6 years 3 months 18 days
Consumer loan bonds    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 25,029 $ 56,846
Amortized Cost Basis 25,688 57,480
Gross Unrealized Gains 521 33
Gross Unrealized Losses (6,190) (7,075)
Carrying Value $ 20,019 $ 50,438
Number of Securities | security 6 6
Weighted Average Rating   B
Weighted Average Coupon   5.50%
Weighted Average Yield   20.26%
Weighted Average Life (Years) 1 year 7 months 6 days 1 year 7 months 6 days
MSR bond    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 0 $ 228,000
Amortized Cost Basis 0 228,000
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 (400)
Carrying Value $ 0 $ 227,600
Number of Securities | security 0 2
Weighted Average Rating   BBB-
Weighted Average Coupon 0.00% 5.24%
Weighted Average Yield 0.00% 4.89%
Weighted Average Life (Years)   8 years 9 months 18 days
Interest-only Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 11,201,646 $ 6,832,353
Amortized Cost Basis 308,714 259,725
Gross Unrealized Gains 35,882 23,694
Gross Unrealized Losses (19,459) (13,025)
Carrying Value $ 325,137 $ 270,394
Number of Securities | security 124 79
Weighted Average Rating AA+ AA+
Weighted Average Coupon 1.37% 1.38%
Weighted Average Yield 10.49% 6.58%
Weighted Average Life (Years) 2 years 10 months 24 days 3 years
Servicing Strips    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 4,073,792 $ 975,048
Amortized Cost Basis 40,043 8,588
Gross Unrealized Gains 2,431 1,720
Gross Unrealized Losses (4,562) (198)
Carrying Value $ 37,912 $ 10,110
Number of Securities | security 46 31
Weighted Average Coupon 0.38% 0.21%
Weighted Average Yield 4.01% 13.23%
Weighted Average Life (Years) 5 years 8 months 12 days 6 years