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
6 Months Ended
Jun. 30, 2014
Debt Instrument [Line Items]  
Outstanding Face Amount $ 5,104,627
Carrying Value 5,104,627
Weighted Average Funding Cost 2.54%
Weighted Average Life (Years) 5 years 9 months 18 days
Residential Mortgage Loans(E)
 
Debt Instrument [Line Items]  
Variable Interest Rate Spread 3.25%
Consumer Loans
 
Debt Instrument [Line Items]  
Variable Interest Rate Spread 2.00%
Servicer Advances
 
Debt Instrument [Line Items]  
Carrying Value 3,265,530 [1]
Secured Corporate Loan | Lower Range
 
Debt Instrument [Line Items]  
Variable Interest Rate Spread 1.30%
Secured Corporate Loan | Upper Range
 
Debt Instrument [Line Items]  
Variable Interest Rate Spread 2.50%
Debt [Member]
 
Debt Instrument [Line Items]  
Weighted Average Life (Years) 1 year 1 month 6 days
Repurchase Agreements | Agency ARM RMBS
 
Debt Instrument [Line Items]  
Outstanding Face Amount 1,182,244 [2]
Carrying Value 1,182,244 [2]
Weighted Average Funding Cost 0.33% [2]
Weighted Average Life (Years) 1 month 6 days [2]
Repurchase Agreements | Agency ARM RMBS | Collateral
 
Debt Instrument [Line Items]  
Weighted Average Life (Years) 4 years 8 months 12 days [2]
Outstanding Face Amount of Collateral 1,159,363 [2]
Amortized Cost Basis of Collateral 1,232,414 [2]
Carrying Value of Collateral 1,234,562 [2]
Repurchase Agreements | Non-Agency RMBS
 
Debt Instrument [Line Items]  
Outstanding Face Amount 149,110 [3]
Carrying Value 149,110 [3]
Weighted Average Funding Cost 1.86% [3]
Weighted Average Life (Years) 1 month 6 days [3]
Repurchase Agreements | Non-Agency RMBS | Collateral
 
Debt Instrument [Line Items]  
Weighted Average Life (Years) 9 years 8 months 12 days [3]
Outstanding Face Amount of Collateral 237,191 [3]
Amortized Cost Basis of Collateral 186,567 [3]
Carrying Value of Collateral 192,413 [3]
Repurchase Agreements | Residential Mortgage Loans(E)
 
Debt Instrument [Line Items]  
Outstanding Face Amount 348,033 [4]
Carrying Value 348,033
Weighted Average Funding Cost 2.90%
Weighted Average Life (Years) 1 year 8 months 12 days
Repurchase Agreements | Residential Mortgage Loans(E) | Collateral
 
Debt Instrument [Line Items]  
Weighted Average Life (Years) 2 years 4 months 24 days [4]
Outstanding Face Amount of Collateral 648,833
Amortized Cost Basis of Collateral 486,660
Carrying Value of Collateral 486,630
Repurchase Agreements | Consumer Loans
 
Debt Instrument [Line Items]  
Outstanding Face Amount 125,000 [5]
Carrying Value 125,000 [5]
Weighted Average Funding Cost 4.16% [5]
Weighted Average Life (Years) 7 months 6 days [5]
Repurchase Agreements | Consumer Loans | Collateral
 
Debt Instrument [Line Items]  
Weighted Average Life (Years) 3 years 6 months [5]
Carrying Value of Collateral 250,048 [5]
Repurchase Agreements | Real Estate Owned(G)
 
Debt Instrument [Line Items]  
Outstanding Face Amount 10,795 [6]
Carrying Value 10,795 [6]
Weighted Average Funding Cost 2.96% [6]
Weighted Average Life (Years) 6 months [6]
Repurchase Agreements | Real Estate Owned(G) | Collateral
 
Debt Instrument [Line Items]  
Carrying Value of Collateral 27,830 [6]
Repurchase Agreements | Total Repurchase Agreements
 
Debt Instrument [Line Items]  
Outstanding Face Amount 1,815,182 [7]
Carrying Value 1,815,182 [7]
Weighted Average Funding Cost 1.23% [7]
Weighted Average Life (Years) 4 months 24 days [7]
Notes Payable, Other Payables | Residential Mortgage Loans(E)
 
Debt Instrument [Line Items]  
Outstanding Face Amount 23,915 [8]
Carrying Value 23,915 [8]
Weighted Average Funding Cost 3.41% [8]
Weighted Average Life (Years) 2 months 12 days [8]
Notes Payable, Other Payables | Residential Mortgage Loans(E) | Collateral
 
Debt Instrument [Line Items]  
Weighted Average Life (Years) 3 years 8 months 12 days [8]
Outstanding Face Amount of Collateral 53,085 [8]
Amortized Cost Basis of Collateral 31,682 [8]
Carrying Value of Collateral 30,794 [8]
Notes Payable, Other Payables | Servicer Advances
 
Debt Instrument [Line Items]  
Outstanding Face Amount 3,265,530 [9]
Carrying Value 3,265,530 [9]
Weighted Average Funding Cost 3.26% [9]
Weighted Average Life (Years) 1 year 4 months 24 days [9]
Notes Payable, Other Payables | Servicer Advances | Collateral
 
Debt Instrument [Line Items]  
Weighted Average Life (Years) 3 years 9 months 18 days [9]
Outstanding Face Amount of Collateral 3,551,464 [9]
Amortized Cost Basis of Collateral 3,596,228 [9]
Carrying Value of Collateral 3,679,105 [9]
Notes Payable, Other Payables | Total Notes Payable
 
Debt Instrument [Line Items]  
Outstanding Face Amount 3,289,445
Carrying Value $ 3,289,445
Weighted Average Funding Cost 3.26%
Weighted Average Life (Years) 1 year 4 months 24 days
[1] 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.
[2] The counterparties of these repurchase agreements are Mizuho ($145.1 million), Morgan Stanley ($218.5 million), Daiwa ($296.5 million) and Jefferies ($522.2 million) and were subject to customary margin call provisions.
[3] The counterparties of these repurchase agreements are Barclays ($21.6 million), Credit Suisse ($50.7 million), Royal Bank of Scotland ($33.9 million), Bank of America ($1.9 million), Goldman Sachs ($27.6 million) and UBS ($13.5 million) and were subject to customary margin call provisions. All of the Non-Agency repurchase agreements have LIBOR-based floating interest rates. Includes $48.6 million borrowed under a master repurchase agreement, which bears interest at one-month LIBOR plus 1.75%.
[4] The counterparties on these repurchase agreements are Nomura ($324.5 million), Citibank ($17.1 million) and Royal Bank of Scotland ($6.4 million). All of these repurchase agreements have LIBOR-based floating interest rates.
[5] The repurchase agreement is payable to Credit Suisse and bears interest equal to one-month LIBOR plus 2.0%.
[6] The counterparties of these repurchase agreements are Royal Bank of Scotland ($7.0 million), Credit Suisse ($2.5 million) and Nomura ($1.3 million). All of these repurchase agreements have LIBOR-based floating interest rates.
[7] These repurchase agreements had approximately $0.1 million of associated accrued interest payable as of June 30, 2014.
[8] The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 3.25%.
[9] $1.1 billion face amount of the notes have a fixed rate while the remaining 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%.