Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN EQUITY METHOD INVESTEES (Tables)

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INVESTMENTS IN EQUITY METHOD INVESTEES (Tables)
3 Months Ended
Mar. 31, 2013
Investments In Equity Method Investees Tables  
Schedule of investments in equity method investees

The following tables summarize the investments in equity method investees held by New Residential at March 31, 2013:

 

    March 31, 2013  
Assets (A)   $ 275,779  
Debt     —  
Other Liabilities     (70,603 )
Equity   $ 205,176  
New Residential’s Investment   $ 102,588  
New Residential’s Ownership     50.0 %

 

(A) Includes $20.8 million of deposits related to investments which have not closed at March 31, 2013.

 

    Three Months Ended March 31, 2013  
Interest income   $ 5,616  
Other income     (3,154 )
Expenses     (524 )
Net Income   $ 1,938  

 

Schedule of Excess Mortgage Servicing Rights (MSRs) investments made through equity method investees

The following is a summary of New Residential’s Excess MSR investments made through equity method investees:

 

    March 31, 2013  
    Unpaid
Principal
Balance
    Investee
Interest in
Excess MSR
    New Residential Interest
in Investees
    Amortized
Cost Basis (A)
    Carrying Value (B)     Weighted Average Yield     Weighted Average Maturity (Years) (C)  
MSR Pool 6   $ 11,821,572       66.7 %     50.0 %   $ 42,388     $ 41,453       17.4 %     4.9  
MSR Pool 6 - Recapture Agreement     —       66.7 %     50.0 %     10,954       10,972       17.4 %     10.7  
MSR Pool 7     36,440,577       66.7 %     50.0 %     109,420       109,048       15.2 %     5.1  
MSR Pool 7 - Recapture Agreement     —       66.7 %     50.0 %     23,296       23,164       15.2 %     12.0  
MSR Pool 8     16,613,186       66.7 %     50.0 %     58,748       57,177       15.0 %     5.0  
MSR Pool 8 - Recapture Agreement     —       66.7 %     50.0 %     13,312       13,150       15.0 %     11.7  
    $ 64,875,335                     $ 258,118     $ 254,964       15.6 %     6.3  

 

(A) Represents the amortized cost basis of the equity method investees in which New Residential holds a 50% interest. The amortized cost basis of the Recapture Agreements is determined based on the relative fair values of the Recapture Agreements and related Excess MSRs at the time they were acquired.
(B) Represents the carrying value of the equity method investees in which New Residential holds a 50% interest. Carrying value represents the fair value of the pools or Recapture Agreements, as applicable.
(C) The weighted average maturity represents the weighted average expected timing of the receipt of cash flows of each investment.