Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS - Level 3 Rollforward (Details)

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FAIR VALUE OF FINANCIAL INSTRUMENTS - Level 3 Rollforward (Details) (USD $)
3 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Excess Mortgage Servicing Rights Investees
Jun. 30, 2014
Level 3
Jun. 30, 2014
Recurring Basis
Level 3
Jun. 30, 2014
Recurring Basis
Level 3
Linked Transactions
Jun. 30, 2014
Recurring Basis
Level 3
Non-Agency RMBS
Jun. 30, 2014
Recurring Basis
Level 3
Servicer Advances
Jun. 30, 2014
Recurring Basis
Level 3
MSRs Agency
Dec. 31, 2013
Recurring Basis
Level 3
MSRs Agency
Excess Mortgage Servicing Rights Investees
Jun. 30, 2014
Recurring Basis
Level 3
MSRs Non-Agency
Jun. 30, 2014
Recurring Basis
Level 3
MSRs Non-Agency
Excess Mortgage Servicing Rights Investees
Jun. 30, 2014
MSRs Agency
Recurring Basis
Level 3
Excess Mortgage Servicing Rights Investees
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]                              
Balance, beginning           $ 4,629,368,000 $ 3,948,819,000 $ 35,926,000 $ 570,425,000 $ 2,665,551,000 $ 144,660,000 [1] $ 245,399,000 [1],[2] $ 179,491,000 [1] $ 107,367,000 [1],[2]  
Gains (losses) included in net income                              
Included in other-than-temporary impairment (“OTTI”) on securities             (479,000) [3]   (479,000) [3]            
Included in change in fair value of investments in excess mortgage servicing rights             12,104,000 [3]       3,673,000 [1],[3]   8,431,000 [1],[3]    
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees             1,224,000 [3]             1,324,000 [1],[2],[3] (100,000) [1],[2],[3]
Included in gain on settlement of investments 52,539,000 58,000 56,896,000 58,000     60,330,000 0 60,330,000            
Included in other income             82,606,000 [3] (271,000)   82,877,000 [3]          
Gains (losses) included in other comprehensive income, net of tax             3,174,000 [4]   3,174,000 [4]            
Interest income             159,317,000   13,812,000 102,823,000 9,491,000 [1]   15,298,000 [1] 5,271,000 [1],[2] 12,622,000 [1],[2]
Purchases, sales and repayments                              
Purchases             4,902,682,000 9,758,000 882,033,000 3,955,602,461 36,157,000 [1]   19,132,000 [1]    
Purchase adjustments             1,014,000 0     (59,000) [1]   1,073,000 [1]    
Proceeds from sales             (1,274,719,000) (1,495,000) (1,273,224,000)            
Proceeds from repayments             (3,257,030,000) (3,508,000) (39,180,000) (3,127,748,000) (18,470,000) [1]   (26,461,000) [1] (13,579,000) [1],[2] (28,084,000) [1],[2]
Transfers to REO             (9,674,000) (9,674,000)              
Balance, ending           $ 4,629,368,000   $ 30,736,000 $ 216,891,000 $ 3,679,105,000 $ 175,452,000 [1] $ 245,399,000 [1],[2] $ 196,964,000 [1] $ 100,383,000 [1],[2] $ 229,837,000 [1],[2]
New Residential's ownership         50.00%                    
[1] Includes the Recapture Agreement for each respective pool.
[2] Amounts represent New Residential’s portion of the Excess MSRs held by the respective joint ventures in which New Residential has a 50% interest.
[3] The gains (losses) recorded in earnings during the period are attributable to the change in unrealized gains (losses) relating to Level 3 assets still held at the reporting dates.
[4] These gains (losses) were included in net unrealized gain (loss) on securities in the Condensed Consolidated Statements of Comprehensive Income.