Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES - Summary of Investments (Details)

v2.4.0.8
INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES - Summary of Investments (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Apr. 02, 2013
Summarized financial information:      
New Residential's investment $ 231,422 $ 215,062  
New Residential's equity in net income 16,360    
Consumer Loan Investees [Member]
     
Summarized financial information:      
Consumer Loan Assets 2,428,397    
Other assets 189,049    
Debt (1,815,734) [1]    
Other Liabilities (30,306)    
Equity 771,406    
New Residential's investment 231,422 215,062  
Ownership percentage in equity method investees 30.00%   30.00%
Interest income 142,815    
Interest expense (22,195)    
Provision for finance receivable losses (34,156)    
Other expenses, net (20,452)    
Change in fair value of debt (16,867)    
Net income 49,145    
New Residential's equity in net income $ 16,360    
[1] Represents the Class A asset-backed notes with a face amount of $1.4 billion, an interest rate of 3.75% and a maturity of April 2021 and the Class B asset-backed notes with a face amount of $0.4 billion, an interest rate of 4.0% and a maturity of December 2024. Substantially all of the net cash flow generated by the Consumer Loan Companies is required to be used to pay down the Class A notes. When the balance of the outstanding Class A notes is reduced to 50% of the outstanding UPB of the performing consumer loans and the managing member is reimbursed by the consumer loan companies for expenses accumulated up to that date, 70% of the net cash flow generated is required to be used to pay down the Class A notes and the equity holders of the Consumer Loan Companies and holders of the Class B notes will each be entitled to receive 15% of the net cash flow of the Consumer Loan Companies on a periodic basis.