Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS - REVERSE MORTGAGE LOANS (Details 7)

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FAIR VALUE OF FINANCIAL INSTRUMENTS - REVERSE MORTGAGE LOANS (Details 7) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Weighted average life (years) 3 years 6 months [1],[2]
Reverse Mortgage Loans
 
Outstanding face amount $ 56,738 [3]
Carrying value 33,060 [3]
Fair value 33,162
Valuation allowance/(reversal) in current year   
Discount rate 10.30%
Weighted average life (years) 3 years 9 months 18 days [4]
[1] (C) The weighted average life is based on the timing of expected principal reduction on the assets.
[2] (G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.
[3] (A) Represents a 70% interest New Residential holds in reverse mortgage loans.
[4] (C) The weighted average life is based on the expected timing of the receipt of cash flows.