Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES - Summary of Investments (Details)

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INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES - Summary of Investments (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Dec. 31, 2013
Jun. 30, 2014
Consumer Loan Investees
Jun. 30, 2014
Consumer Loan Investees
Apr. 01, 2014
Consumer Loan Investees
Dec. 31, 2013
Consumer Loan Investees
Schedule of Equity Method Investments [Line Items]                  
Consumer loan assets           $ 2,302,297 $ 2,302,297   $ 2,572,577
Other assets           172,969 172,969   192,830
Debt           (1,627,323) [1] (1,627,323) [1]   (2,010,433) [1]
Other liabilities           (15,025) (15,025)   (32,712)
Equity           832,918 832,918   722,262
New Residential's investment 250,048   250,048   215,062 250,048 250,048   215,062
New Residential's ownership           30.00% 30.00% 30.00% 30.00%
Interest income           135,629 278,444    
Interest expense           (18,106) (40,301)    
Provision for finance receivable losses           (27,663) (61,819)    
Other expenses, net           (19,279) (39,731)    
Change in fair value of debt           535 (16,332)    
Net income           71,116 120,261    
New Residential's equity in net income $ 21,335 $ 36,164 $ 37,695 $ 36,164   $ 21,335 $ 37,695    
[1] Represents the Class A asset-backed notes with a face amount of $1.3 billion, an interest rate of 3.75% and a maturity of April 2021 and the Class B asset-backed notes with a face amount of $0.3 billion, an interest rate of 4.0% and a maturity of December 2024. Substantially all of the net cash flow generated by the Consumer Loan Companies was required to be used to pay down the Class A notes. In June 2014, the balance of the outstanding Class A notes was reduced to 50% of the outstanding UPB of the performing consumer loans and the managing member was reimbursed by the Consumer Loan Companies for accumulated expenses. Prospectively, 70% of the net cash flow generated is required to be used to pay down the Class A notes, and the equity holders of the Consumer Loan Companies and holders of the Class B notes will each be entitled to receive 15% of the net cash flow of the Consumer Loan Companies on a periodic basis.