Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVES (Details)

v2.4.0.8
DERIVATIVES (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Dec. 31, 2013
Derivative assets at fair value $ 45,040   $ 35,926
Derivative liabilities at fair value 84   18
Recognized in other income (loss) 1,357 1,854  
Linked Transactions Derivatives 44,271   35,926
Real Estate Securities Derivatives [Member]
     
Derivative assets at fair value     1,452 [1]
Derivative assets national amount     10,000 [2]
Recognized in other income (loss)   23  
Linked Transactions Derivatives     9,952 [3]
Non-Performing Loans Derivatives [Member]
     
Derivative assets at fair value 44,271 [1]   34,474 [1]
Derivative assets national amount 228,540 [4]   164,598 [4]
Recognized in other income (loss) 671 [1] 1,831  
Linked Transactions Derivatives 128,957 [5]   95,014 [5]
Non-Performing Loans Repurchase Agreements Derivatives [Member]
     
Linked Transactions Derivatives 84,686 [6]   60,540 [6]
TBAs [Member]
     
Derivative assets at fair value 362    
Derivative assets national amount (125,000)    
Recognized in other income (loss) 362    
U.S.T. Short Positions [Member]
     
Derivative assets at fair value 407    
Derivative assets national amount 300,000    
Recognized in other income (loss) 408    
Interest Rate Swaps [Member]
     
Derivative liabilities at fair value 84    
Derivative assets national amount 100,000 [7]    
Recognized in other income (loss) (84)    
TBA Long Positions [Member]
     
Derivative assets national amount 850,000 [8]    
TBA Short Positions [Member]
     
Derivative assets national amount 975,000 [8]    
Real Estate Securities Repurchase Agreements Derivatives [Member]
     
Linked Transactions Derivatives     $ 8,500
[1] Investments purchased from, and financed by, the selling counterparty that New Residential accounts for as linked transactions and are reflected as derivatives.
[2] Represents the current face amount of the real estate securities within linked transactions.
[3] Real estate securities that had a current face amount of $10.0 million as of December 31, 2013, which reperesents the notional amount of the linked transaction.
[4] Represents the UPB of the underlying loans of the non-performing loan pools within linked transactions.
[5] Non-performing loans that had a UPB of $228.5 million as of March 31, 2014, which represents the notional amount of the linked transaction and accrued interest.
[6] Represents carrying amount that approximates fair value.
[7] Receives LIBOR and pays a fixed rate.
[8] Represents the notional amount of Agency RMBS, classified as derivatives.