Quarterly report pursuant to Section 13 or 15(d)

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

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INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Carrying Value of Residential Mortgage Loans (Details) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2014
Reverse Mortgage Loans
 
Movement in Mortgage Loans on Real Estate [Roll Forward]  
Balance, beginning $ 33,539 [1]
Purchases / additional fundings 0
Proceeds from repayments (1,307)
Accretion of loan discount and other amortization 1,364
Real Estate Owned, Transfer to Real Estate Owned (2,375)
Valuation allowance (427)
Balance, ending 30,794 [2]
Performing Loans
 
Movement in Mortgage Loans on Real Estate [Roll Forward]  
Balance, beginning 0 [3],[4]
Purchases / additional fundings 60,904
Proceeds from repayments 0
Accretion of loan discount and other amortization 0
Real Estate Owned, Transfer to Real Estate Owned 0
Valuation allowance (30)
Balance, ending $ 60,874
[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] Represents loans that are current or less than 30 days past due at acquisition.
[4] Performing loan carrying value includes accrued interest receivable.