Annual report pursuant to Section 13 and 15(d)

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

v3.20.4
REAL ESTATE AND OTHER SECURITIES - Summary of Real Estate Securities (Details)
$ in Thousands
12 Months Ended
Dec. 31, 2020
USD ($)
security
bond
Dec. 31, 2019
USD ($)
security
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 31,869,682 $ 36,159,591
Amortized Cost Basis 14,105,251 18,782,175
Carrying Value $ 14,244,558 19,477,728
Weighted Average Life (Years) 2 years 2 months 12 days  
Investments $ 26,441,337 34,337,137
Bonds    
Debt Securities, Available-for-sale [Line Items]    
Carrying Value $ 432,500  
Number of bonds which New Residential was unable to obtain rating information | bond 289  
Residual Bonds    
Debt Securities, Available-for-sale [Line Items]    
Investments $ 27,400  
Non-Agency Bonds    
Debt Securities, Available-for-sale [Line Items]    
Investments 2,600  
Total Agency RMBS    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 12,491,152 11,301,603
Amortized Cost Basis 12,951,608 11,474,338
Gross Unrealized Gains 112,026 57,221
Gross Unrealized Losses 0 (11,616)
Carrying Value $ 13,063,634 $ 11,519,943
Number of Securities 58,000 43
Weighted Average Rating AAA AAA
Weighted Average Coupon 2.20% 3.20%
Weighted Average Yield 2.20% 2.80%
Weighted Average Life (Years) 4 years 3 months 18 days 6 years
Total Agency RMBS | Fixed Rate Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 12,500,000 $ 11,300,000
Total Agency RMBS | Floating Rate Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 0 0
Agency RMBS    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 110,360  
Amortized Cost Basis 111,149  
Gross Unrealized Gains 10,612  
Gross Unrealized Losses 0  
Carrying Value $ 121,761  
Number of Securities 1,000  
Weighted Average Rating AAA  
Weighted Average Coupon 3.50%  
Weighted Average Yield 3.50%  
Weighted Average Life (Years) 5 years 10 months 24 days  
Agency RMBS at FVO    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 12,380,792  
Amortized Cost Basis 12,840,459  
Gross Unrealized Gains 101,414  
Gross Unrealized Losses 0  
Carrying Value $ 12,941,873  
Number of Securities | security 57,000  
Weighted Average Rating AAA  
Weighted Average Coupon 2.20%  
Weighted Average Yield 2.20%  
Weighted Average Life (Years) 4 years 3 months 18 days  
Non-Agency    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 19,378,530 24,857,988
Amortized Cost Basis 1,153,643 7,307,837
Gross Unrealized Gains 88,098 689,158
Gross Unrealized Losses (60,817) (39,210)
Carrying Value $ 1,180,924 $ 7,957,785
Number of Securities 589,000 997
Weighted Average Rating AA B+
Weighted Average Coupon 2.80% 2.90%
Weighted Average Yield 4.10% 4.70%
Weighted Average Life (Years) 4 years 9 months 18 days 7 years
Weighted Average Principal Subordination 19.60% 11.00%
Non-Agency | Fixed Rate Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 11,900,000 $ 5,400,000
Residual and interest - only notional amount 10,900,000 3,200,000
Non-Agency | Floating Rate Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 7,500,000 19,500,000
Residual and interest - only notional amount 7,200,000 12,200,000
Total/Weighted Average    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount 31,869,682 36,159,591
Amortized Cost Basis 14,105,251 18,782,175
Gross Unrealized Gains 200,124 746,379
Gross Unrealized Losses (60,817) (50,826)
Carrying Value $ 14,244,558 $ 19,477,728
Number of Securities | security 647,000 1,040
Weighted Average Rating AAA A+
Weighted Average Coupon 2.30% 3.00%
Weighted Average Yield 2.40% 3.50%
Weighted Average Life (Years) 4 years 3 months 18 days 6 years 4 months 24 days
Corporate bond    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 500 $ 85,000
Amortized Cost Basis 500 85,000
Gross Unrealized Gains 23 0
Gross Unrealized Losses 0 (1,262)
Carrying Value $ 523 $ 83,738
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) 4 years 3 months 18 days 5 years 3 months 18 days
Consumer loan bonds    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 13,022 $ 25,029
Amortized Cost Basis 12,360 25,688
Gross Unrealized Gains 503 521
Gross Unrealized Losses 0 (6,190)
Carrying Value $ 12,862 $ 20,019
Number of Securities | security 6 6
Weighted Average Life (Years)   1 year 7 months 6 days
Interest-only Securities    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 9,457,488 $ 11,201,646
Amortized Cost Basis 248,253 308,714
Gross Unrealized Gains 6,600 35,882
Gross Unrealized Losses (43,781) (19,459)
Carrying Value $ 211,073 $ 325,137
Number of Securities | security 124 124
Weighted Average Rating AA+ AA+
Weighted Average Coupon 1.22% 1.37%
Weighted Average Yield 5.09% 10.49%
Weighted Average Life (Years) 2 years 1 month 6 days 2 years 10 months 24 days
Servicing Strips    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount $ 4,979,723 $ 4,073,792
Amortized Cost Basis 49,989 40,043
Gross Unrealized Gains 5,865 2,431
Gross Unrealized Losses (9,476) (4,562)
Carrying Value $ 46,378 $ 37,912
Number of Securities | security 58 46
Weighted Average Coupon 0.42% 0.38%
Weighted Average Yield 8.38% 4.01%
Weighted Average Life (Years) 3 years 10 months 24 days 5 years 8 months 12 days
MSR bond    
Debt Securities, Available-for-sale [Line Items]    
Outstanding Face Amount   $ 0
Amortized Cost Basis   0
Gross Unrealized Gains   0
Gross Unrealized Losses   0
Carrying Value   $ 0
Number of Securities | security   0
Weighted Average Coupon   0.00%
Weighted Average Yield   0.00%