Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS - Debt Obligations (Details)

v2.4.0.8
DEBT OBLIGATIONS - Debt Obligations (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Debt face amount $ 5,377,899 [1]
Carrying value 5,377,899 [1]
Weighted average funding cost 2.33%
Agency RMBS Repurchase Agreements [Member]
 
Debt face amount 1,117,592 [1],[2]
Carrying value 1,117,592 [1]
Final stated maturity Jun. 30, 2014 [1]
Weighted average funding cost 0.34%
Weighted average life (years) 0 years 3 months 18 days
Agency RMBS Repurchase Agreements [Member] | Collateral [Member]
 
Weighted average life (years) 4 years 3 months 18 days
Outstanding Face Amount of Collateral 1,085,447
Amortized Cost Basis of Collateral 1,153,504
Carrying Value of Collateral 1,154,057
Non-agency RMBS Repurchase Agreements [Member]
 
Debt face amount 883,002 [1],[3]
Carrying value 883,002 [1]
Weighted average funding cost 1.98%
Weighted average life (years) 0 years 1 month 6 days
Non-agency RMBS Repurchase Agreements [Member] | Collateral [Member]
 
Weighted average life (years) 8 years 9 months 18 days
Outstanding Face Amount of Collateral 1,501,192
Amortized Cost Basis of Collateral 1,156,794
Carrying Value of Collateral 1,163,721
Non-agency RMBS Repurchase Agreements [Member] | Lower Range [Member]
 
Final stated maturity Apr. 30, 2014 [1]
Non-agency RMBS Repurchase Agreements [Member] | Upper Range [Member]
 
Final stated maturity Oct. 31, 2014
Consumer Loans Repurchase Agreements [Member]
 
Month Issued 2014-01 [1]
Debt face amount 142,500 [1],[4]
Final stated maturity Jun. 30, 2014
Weighted average funding cost 4.16%
Weighted average life (years) 0 years 3 months 18 days
Consumer Loans Repurchase Agreements [Member] | Collateral [Member]
 
Weighted average life (years) 3 years 2 months 12 days
Carrying Value of Collateral 231,422
Total Repurchase Agreements [Member]
 
Debt face amount 2,143,094 [1]
Carrying value 2,143,094 [1],[5]
Weighted average funding cost 1.27%
Weighted average life (years) 0 years 2 months 12 days
Secured Corporate Loan [Member]
 
Month Issued 2014-05 [1]
Debt face amount 69,055 [1]
Carrying value 69,055 [1]
Final stated maturity May 31, 2014
Weighted average funding cost 4.16% [6]
Weighted average life (years) 0 years 2 months 12 days
Secured Corporate Loan [Member] | Collateral [Member]
 
Weighted average life (years) 6 years
Outstanding Face Amount of Collateral 35,823,960
Amortized Cost Basis of Collateral 124,379
Carrying Value of Collateral 147,702
Servicer Advance Notes [Member]
 
Debt face amount 3,142,292 [1]
Carrying value 3,142,292 [1],[7]
Weighted average funding cost 3.01% [8]
Weighted average life (years) 1 year 2 months 12 days
Servicer Advance Notes [Member] | Collateral [Member]
 
Weighted average life (years) 3 years 2 months 12 days
Outstanding Face Amount of Collateral 3,430,473
Amortized Cost Basis of Collateral 3,457,385
Carrying Value of Collateral 3,457,385
Servicer Advance Notes [Member] | Lower Range [Member]
 
Final stated maturity Sep. 30, 2014
Servicer Advance Notes [Member] | Upper Range [Member]
 
Final stated maturity Mar. 31, 2017
Residential Mortgage Loans [Member]
 
Debt face amount 23,458 [1]
Carrying value 23,458 [1]
Final stated maturity Sep. 30, 2014
Weighted average funding cost 3.41% [9]
Weighted average life (years) 0 years 6 months
Residential Mortgage Loans [Member] | Collateral [Member]
 
Weighted average life (years) 3 years 7 months 6 days
Outstanding Face Amount of Collateral 57,818
Amortized Cost Basis of Collateral 34,045
Carrying Value of Collateral 34,045
Total Notes Payable [Member]
 
Debt face amount 3,234,805 [1]
Carrying value $ 3,234,805 [1]
Weighted average funding cost 3.03%
Weighted average life (years) 1 year 1 month 6 days
Total Debt [Member]
 
Weighted average life (years) 0 years 9 months 18 days
[1] Excludes debt related to linked transactions (Note 10).
[2] The counterparties of these repurchase agreements are Mizuho ($160.8 million), Morgan Stanley ($160.5 million), Daiwa ($315.0 million) and Jefferies ($481.3 million) and were subject to customary margin call provisions.
[3] The counterparties of these repurchase agreements are Barclays ($34.7 million), Credit Suisse ($132.3 million), Royal Bank of Scotland ($42.5 million), Bank of America ($459.9 million), Goldman Sachs ($83.3 million), UBS ($74.6 million) and Royal Bank of Canada ($55.7 million) and were subject to customary margin call provisions. All of the Non-Agency repurchase agreements have LIBOR-based floating interest rates. Includes $103.2 million borrowed under a master repurchase agreement, which bears interest at one-month LIBOR plus 1.75%.
[4] The repurchase agreement is payable to Credit Suisse and bears interest equal to one-month LIBOR plus 4.0%.
[5] These repurchase agreements had approximately $0.7 million of associated accrued interest payable as of March 31, 2014.
[6] The loan bears interest equal to one-month LIBOR plus 4.0%. The outstanding face of the collateral represents the UPB of the residential mortgage loans underlying the Excess MSRs that secure this corporate loan, which is subject to monthly principal amortization payments.
[7] New Residential's unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions. New Residential pays a 0.5% fee on the unused borrowing capacity.
[8] The notes bear interest equal to the sum of (i) a floating rate index rate equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.3% to 2.5%.
[9] The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 3.25%.