Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS AT FAIR VALUE - Direct Investments (Details)

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INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS AT FAIR VALUE - Direct Investments (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
MSRs Pool 1 [Member]
Dec. 13, 2011
MSRs Pool 1 [Member]
Mar. 31, 2014
MSR Pool 1 Recapture Agreement [Member]
Mar. 31, 2014
MSRs Pool 2 [Member]
Jun. 05, 2012
MSRs Pool 2 [Member]
Mar. 31, 2014
MSR Pool 2 Recapture Agreement [Member]
Mar. 31, 2014
MSRs Pool 3 [Member]
Mar. 31, 2014
MSR Pool 3 Recapture Agreement [Member[
Mar. 31, 2014
MSRs Pool 4 [Member]
Mar. 31, 2014
MSR Pool 4 Recapture Agreement [Member]
Mar. 31, 2014
MSRs Pool 5 [Member]
Mar. 31, 2014
MSR Pool 5 Recapture Agreement [Member]
Mar. 31, 2014
MSRs Pool 11 [Member]
May 20, 2013
MSRs Pool 11 [Member]
Mar. 31, 2014
MSR Pool 11 Recapture Agreement [Member]
Mar. 31, 2014
MSRs Pool 12 [Member]
Sep. 23, 2013
MSRs Pool 12 [Member]
Mar. 31, 2014
MSR Pool 12 Recapture Agreement [Member]
Mar. 31, 2014
MSRs Pool 17 [Member]
Jan. 17, 2014
MSRs Pool 17 [Member]
Mar. 31, 2014
MSR Pool 17 Recapture Agreement [Member]
Mar. 31, 2014
MSRs Pool 18 [Member]
Mar. 31, 2014
MSR Pool 18 Recapture Agreement [Member]
Mar. 31, 2014
MSRs [Member]
Unpaid principal balance of underlying loans     $ 6,626,389     $ 7,689,490     $ 7,595,633   $ 4,940,045   $ 35,823,960   $ 444,667     $ 4,998,929 [1]     $ 8,096,439 [1] $ 8,100,000   $ 8,463,426 [1]   $ 84,678,978
Interest in Excess MSR     65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 80.00% 80.00% 66.70% 66.70% 66.70% 40.00% [1] 40.00% 40.00% 33.30% [1] 33.30% 33.30% 40.00% [1] 40.00%  
Amortized Cost Basis     25,600   517 [2] 29,395   696 [2] 24,015 2,237 [2] 9,581 2,144 [2] 115,186 9,193 [2] 2,059   254 [2] 15,519 [1]   467 [2] 18,112 [1]   1,123 [2] 15,157 [1] 1,127 [2] 272,382
Carrying Value     35,442 [3]   6,019 [3] 34,389 [3]   5,969 [3] 31,830 [3] 6,065 [3] 13,605 [3] 3,897 [3] 141,967 [3] 5,735 [3] 2,369 [3]   280 [3] 17,180 [1],[3]   328 [3] 18,471 [1],[3]   598 [3] 16,785 [1],[3] 775 [3] 341,704 [3]
Weighted average yield     12.50%   12.50% 12.50%   12.50% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50% 12.50%   12.50% 12.50% [1]   12.50% 12.50% [1]   12.50% 12.50% [1] 12.50% 12.50%
Weighted average life years     5 years 3 months 18 days [4]   12 years 1 month 6 days [4] 5 years 6 months [4]   12 years 8 months 12 days [4] 5 years 2 months 12 days [4] 12 years 3 months 18 days [4] 4 years 10 months 24 days [4] 12 years 1 month 6 days [4] 5 years 4 months 24 days [4] 13 years 2 months 12 days [4] 6 years 7 months 6 days [4]   14 years [4] 4 years 6 months [1],[4]   13 years [4] 5 years 2 months 12 days [1],[4]   13 years [4] 4 years 7 months 6 days [1],[4] 12 years 7 months 6 days [4] 5 years 9 months 18 days [4]
Change in fair value of investments recorded in other income $ 6,602 $ 1,858 $ (114) [5]   $ (209) [5] $ (22) [5]   $ (62) [5] $ (449) [5] $ (81) [5] $ 77 [5] $ (51) [5] $ 3,691 [5] $ 163 [5] $ 321 [5]   $ 45 [5] $ 1,601 [1],[5]   $ 94 [5] $ 359 [1],[5]   $ (526) [5] $ 1,624 [1],[5] $ 141 [5] $ 6,602 [5]
[1] Pool in which New Residential also invested in related servicer advances, including the basic fee component of the related MSR as of March 31, 2014 (Note 6).
[2] 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.
[3] Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.
[4] Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[5] The portion of the change in fair value of the Recapture Agreements relating to loans recaptured to date is reflected in the respective pool.