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
3 Months Ended
Mar. 31, 2014
Securities
Dec. 31, 2013
Mar. 31, 2014
Agency RMBS [Member]
Securities
Mar. 31, 2014
Non-Agency RMBS [Member]
Securities
Mar. 31, 2014
Investments in Real Estate Securities [Member]
Mar. 31, 2014
Other ABS [Member]
Securities
Outstanding face amount $ 2,866,311 [1]   $ 1,085,447 [2],[3] $ 1,780,864 [4]   $ 207,431
Amortized cost basis 2,335,293   1,162,098 [2],[3] 1,173,195 [4]   2,160
Gains - gross unrealized     4,131 [2],[3] 14,962 [4] 19,093 60
Losses - gross unrealized     (3,579) [2],[3] (5,586) [4] (9,165)  
Carrying value $ 2,345,221 [5] $ 1,973,189 $ 1,162,650 [2],[3],[5] $ 1,182,571 [4],[5]   $ 2,220 [5]
Number of securities 230   109 [2],[3] 121 [4]   1
Weighted average rating     AAA [2],[3],[6] CC [4],[6] BBB- [6]  
Weighted average coupon 1.80%   3.16% [2],[3] 0.97% [4]   0.21%
Weighted average yield     1.53% [2],[3] 4.68% [4] 3.49% 0.493%
Weighted average life (years)     4 years 3 months 18 days [2],[3],[7] 8 years 4 months 24 days [4],[7] 6 years 9 months 18 days [7] 7 years 6 months [7]
Principal Subordination - Weighted Average       14.90% [4],[8]    
[1] The total outstanding face amount was $584.0 million for fixed rate securities and $2.3 billion for floating rate securities.
[2] 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").
[3] Amortized cost basis and carrying value include principal receivable of $8.6 million.
[4] Includes Other ABS securities representing 0.2% of the carrying value of the Non-Agency RMBS portfolio. (See Schedule of Real Estate Securities)
[5] Fair value, which is equal to carrying value for all securities. See Note 12 regarding the estimation of fair value.
[6] Represents the weighted average of the ratings of all securities in each asset type, expressed as an S&P equivalent rating. This excludes the ratings of the collateral underlying four bonds that are no longer rated and four bonds for which New Residential was unable to obtain rating information. For each security rated by multiple rating agencies, the lowest rating is used. New Residential used an implied AAA rating for the Agency ARM RMBS. 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.
[7] The weighted average life is based on the timing of expected principal reduction on the assets.
[8] Percentage of the outstanding face amount of securities that is subordinate to New Residential's investments. Exclubdes Other ABS securities representing 0.2% of the carrying value of the Non-Agency RMBS portfolio.