Quarterly report pursuant to Section 13 or 15(d)

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES

v2.4.0.8
TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES
6 Months Ended
Jun. 30, 2014
Transactions With Affiliates And Affiliated Entities  
TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES
TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES
 
Due to affiliates is comprised of the following amounts:
 
June 30, 2014
 
December 31, 2013
Management fees
$
3,415

 
$
1,495

Incentive compensation
22,201

 
16,847

Expense reimbursements and other
516

 
827

 
$
26,132

 
$
19,169

 
Affiliate expenses and fees were comprised of:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2014
 
2013
 
2014
 
2013
Management fees
$
4,915

 
$
4,072

 
$
9,401

 
$
6,397

Incentive compensation
18,863

 
878

 
22,201

 
878

Expense reimbursements(A)
125

 

 
250

 

   Total
$
23,903

 
$
4,950

 
$
31,852

 
$
7,275

 
(A)
Included in General and Administrative Expenses in the Condensed Consolidated Statements of Income.
 
New Residential's board of directors approved a change in the computation of incentive compensation to exclude unrealized gains (or losses) on investments and debt (and any deferred tax impact thereof). The impact of this change on the six months ended June 30, 2014 was to reduce incentive compensation by $5.5 million.

See Notes 4, 5, 6, 7, 8, 11, 14 and 18 for a discussion of transactions with Nationstar. As of June 30, 2014, New Residential’s entire Non-Agency portfolio was serviced or master serviced by Nationstar. The total UPB of the loans underlying these Nationstar serviced Non-Agency RMBS was approximately $2.8 billion as of June 30, 2014. As of June 30, 2014, $17.8 million UPB of New Residential's non-performing residential mortgage loans are being serviced by Nationstar. Subsequent to June 30, 2014, $548.7 million UPB of New Residential's non-performing residential mortgage loans have transferred to be serviced by Nationstar.
 
See Note 9 for a discussion of a transaction with Springleaf.