Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN REAL ESTATE SECURITIES - AVAILABLE FOR SALE (Details)

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INVESTMENTS IN REAL ESTATE SECURITIES - AVAILABLE FOR SALE (Details) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2013
Integer
Dec. 31, 2012
Outstanding face amount $ 2,054,797 [1]  
Amortized cost basis 1,845,512 [1]  
Gains - gross unrealized 29,569 [1]  
Losses - gross unrealized (13,881) [1]  
Carrying value 1,861,200 [1],[2] 289,756
Number of securities 190 [1]  
Weighted average rating BBB [1],[3]  
Weighted average coupon 2.48% [1]  
Weighted average yield 2.48% [1]  
Weighted average life (years) 3 years 6 months [1],[4]  
Agency RMBS
    
Outstanding face amount 1,203,293 [5],[6]  
Amortized cost basis 1,285,532 [5],[6]  
Gains - gross unrealized 1,480 [5],[6]  
Losses - gross unrealized (7,562) [5],[6]  
Carrying value 1,279,450 [2],[5],[6]  
Number of securities 95 [5],[6]  
Weighted average rating AAA [3],[5],[6]  
Weighted average coupon 3.15% [5],[6]  
Weighted average yield 1.30% [5],[6]  
Weighted average life (years) 3 years [4],[5],[6]  
Non-Agency RMBS
    
Outstanding face amount 851,504  
Amortized cost basis 559,980  
Gains - gross unrealized 28,089  
Losses - gross unrealized (6,319)  
Carrying value $ 581,750 [2]  
Number of securities 95  
Weighted average rating CC [3]  
Weighted average coupon 0.82%  
Weighted average yield 5.20%  
Weighted average life (years) 4 years 2 months 12 days [4]  
Principal Subordination - Weighted Average 9.10% [7]  
[1] (G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.
[2] (A) Fair value, which is equal to carrying value for all securities. See Note 9 regarding the estimation of fair value.
[3] (B) Represents the weighted average of the ratings of all securities in each asset type, expressed as an S&P equivalent rating. For each security rated by multiple rating agencies, the lowest rating is used. Ratings provided were determined by third party rating agencies, and represent the most recent credit ratings available as of the reporting date and may not be current.
[4] (C) The weighted average life is based on the timing of expected principal reduction on the assets.
[5] (E) Includes securities issued or guaranteed by U.S. Government agencies such as the Federal National Mortgage Association ("Fannie Mae") or the Federal Home Loan Mortgage Corporation ("Freddie Mac").
[6] (F) Amortized cost basis and carrying value include principal receivable of $10.7 million.
[7] (D) Percentage of the outstanding face amount of securities and residual interests that is subordinate to New Residential's investments.