Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS - Reverse Mortgage Loans (Details)

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FAIR VALUE OF FINANCIAL INSTRUMENTS - Reverse Mortgage Loans (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Mortgage Loans on Real Estate [Line Items]        
Valuation allowance/(reversal) in current year $ 293 $ 0 $ 457 $ 0
Weighted average life     5 years 9 months 18 days  
Reverse Mortgage Loans
       
Mortgage Loans on Real Estate [Line Items]        
Fair value 30,794 [1]   30,794 [1]  
Valuation allowance/(reversal) in current year 427   427  
Discount rate     10.30%  
Interest in Reverse mortgage loans     70.00%  
Weighted average life     3 years 8 months 12 days [2],[3]  
Performing Loans
       
Mortgage Loans on Real Estate [Line Items]        
Valuation allowance/(reversal) in current year     30  
Discount rate     6.40%  
Delinquency     1.90%  
Weighted average life     3 years 10 months 24 days [2],[4],[5]  
Prepayment speed     7.70%  
Non-Performing Loans
       
Mortgage Loans on Real Estate [Line Items]        
Discount rate     7.40%  
Delinquency     97.50%  
Fair Value Inputs, Loss Severity     22.20%  
Carrying Value | Performing Loans
       
Mortgage Loans on Real Estate [Line Items]        
Fair value 61,008   61,008  
Carrying Value | Non-Performing Loans
       
Mortgage Loans on Real Estate [Line Items]        
Fair value 425,622   425,622  
Fair Value | Performing Loans
       
Mortgage Loans on Real Estate [Line Items]        
Fair value 60,904   60,904  
Fair Value | Non-Performing Loans
       
Mortgage Loans on Real Estate [Line Items]        
Fair value $ 428,292   $ 428,292  
[1] Represents a 70% interest New Residential holds in the reverse mortgage loans.
[2] The weighted average life is based on the expected timing of the receipt of cash flows.
[3] 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.
[4] Represents loans that are current or less than 30 days past due at acquisition.
[5] Performing loan carrying value includes accrued interest receivable.