Quarterly report pursuant to Section 13 or 15(d)

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

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INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Residential Mortgage Loans (Details) (USD $)
6 Months Ended
Jun. 30, 2014
Dec. 31, 2013
Feb. 27, 2013
Mortgage Loans on Real Estate [Line Items]      
Weighted average life 5 years 9 months 18 days    
Reverse Mortgage Loans
     
Mortgage Loans on Real Estate [Line Items]      
Outstanding face amount $ 53,085,000 [1]    
Mortgage Loans on Real Estate, Carrying Amount of Mortgages, Including Interest 30,794,000 [1]    
Carrying value 30,794,000 [2] 33,539,000 [1]  
Loan count 288 [1]    
Weighted average yield 10.30% [1]    
Weighted average life 3 years 8 months 12 days [1],[3]    
Floating rate loans as a percent of face amount 20.80% [1]    
Gross Loan-to-Value 183.00% [1],[4]    
Weighted Average Delinquency 80.90% [1],[5]    
Interest in Excess MSR     70.00%
Average Balance During Period of Loans Held-in-portfolio 300,000    
Percentage of loans that have reached a termination event 79.00%    
Performing Loans
     
Mortgage Loans on Real Estate [Line Items]      
Outstanding face amount 72,056,000 [6],[7]    
Mortgage Loans on Real Estate, Carrying Amount of Mortgages, Including Interest 61,008,000 [6],[7]    
Carrying value 60,874,000 0 [6],[7]  
Loan count 357 [6],[7]    
Weighted average yield 6.40% [6],[7]    
Weighted average life 3 years 10 months 24 days [3],[6],[7]    
Floating rate loans as a percent of face amount 10.90% [6],[7]    
Gross Loan-to-Value 107.00% [4],[6],[7]    
Weighted Average Delinquency 3.50% [5],[6],[7]    
Threshold Period Past Due for Write-off of Financing Receivable 30 days    
Purchased Credit Impaired Loans
     
Mortgage Loans on Real Estate [Line Items]      
Outstanding face amount 576,777,000 [8]    
Mortgage Loans on Real Estate, Carrying Amount of Mortgages, Including Interest 425,622,000 [8]    
Carrying value   0 [8]  
Loan count 1,880 [8]    
Weighted average yield 7.40% [8]    
Weighted average life 2 years 2 months 12 days [3],[8]    
Floating rate loans as a percent of face amount 49.80% [8]    
Gross Loan-to-Value 111.00% [4],[8]    
Weighted Average Delinquency 93.70% [5],[8]    
Threshold Period Past Due for Write-off of Financing Receivable 30 days    
Residential Mortgage Loans Held-for-Investment
     
Mortgage Loans on Real Estate [Line Items]      
Outstanding face amount 701,918,000    
Mortgage Loans on Real Estate, Carrying Amount of Mortgages, Including Interest 517,424,000    
Carrying value   $ 33,539,000  
Loan count 2,525    
Weighted average yield 7.50%    
Weighted average life 2 years 6 months [3]    
Floating rate loans as a percent of face amount 43.50%    
Gross Loan-to-Value 115.00% [4]    
Weighted Average Delinquency 82.30% [5]    
[1] Represents a 70% interest New Residential holds in reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.3 million. 79% 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.
[2] Represents a 70% interest New Residential holds in the reverse mortgage loans.
[3] The weighted average life is based on the expected timing of the receipt of cash flows.
[4] LTV refers to the ratio comparing the loan’s unpaid principal balance to the value of the collateral property.
[5] Represents the percentage of underlying loans that are 30+ days delinquent, none of which are on non-accrual status. New Residential records REO received in satisfaction of unpaid loans within Other Assets in its Condensed Consolidated Balance Sheet (Note 2).
[6] Represents loans that are current or less than 30 days past due at acquisition.
[7] Performing loan carrying value includes accrued interest receivable.
[8] Represents loans that are 30 days or more past due at acquisition.