Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT IN RESIDENTIAL MORTGAGE LOANS - Residential Mortgage Loans (Details)

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INVESTMENT IN RESIDENTIAL MORTGAGE LOANS - Residential Mortgage Loans (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Number
Dec. 31, 2013
Weighted average coupon 1.80%  
Residential Mortgage Loans Held-for-Investment [Member]
   
Outstanding face amount $ 57,818 [1],[2]  
Amortized cost basis 34,045 [1],[2]  
Carrying value 34,045 [1],[2] 33,539
Loan count 321 [2]  
Weighted average yield 10.30% [2]  
Weighted average coupon 5.10% [2],[3]  
Weighted average life (years) 3 years 7 months 6 days [2],[4]  
Floating rate loans as a percent of face amount 21.70% [2]  
Delinquent Face Amount $ 47,919 [1],[2],[5]  
[1] Represents a 70% interest New Residential holds in the reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.3 million.
[2] 80% of these loans have reached a termination event. As a result, the borrower can no longer make draws on these loans. Each loan matures upon the occurrence of a termination event.
[3] Represents the stated interest rate on the loans. Accrued interest on reverse mortgage loans is generally added to the principal balance and paid when the loan is resolved.
[4] The weighted average life is based on the expected timing of the receipt of cash flows.
[5] Includes loans that have either experienced (i) a termination event or (ii) an event of default, substantially all of which are more than 90 days past the time at which they were considered delinquent or real estate owned ("REO"). Collateral value underlying loans considered delinquent is generally sufficient, however $3.6 million face amount of REO loans, representing New Residential's 70% interest therein, was on non-accrual status resulting from the uncertainty of cash collections as of March 31, 2014.