Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Direct Investments (Details)

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INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Direct Investments (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Jul. 08, 2014
May 13, 2014
May 12, 2014
Jan. 17, 2014
Dec. 31, 2013
Investment [Line Items]                  
Unpaid principal balance of underlying loans $ 99,041,165   $ 99,041,165   $ 2,100,000 $ 700,000 $ 12,800,000 $ 8,100,000  
Percentage of Investment owned by New Residential         32.50% 33.30%      
Weighted average life     5 years 9 months 14 days [1]            
Amortized Cost Basis 305,846 [2]   305,846 [2]            
Carrying Value 409,236 [3]   409,236 [3]           324,151
Change in fair value of investments in excess mortgage servicing rights 28,566 208 40,670 43,899          
Original and Recaptured Pools
                 
Investment [Line Items]                  
Change in fair value of investments in excess mortgage servicing rights 24,124 (238) 34,012 36,240          
Recapture Agreements
                 
Investment [Line Items]                  
Change in fair value of investments in excess mortgage servicing rights 4,442 446 6,658 7,659          
Agency
                 
Investment [Line Items]                  
Unpaid principal balance of underlying loans 46,264,414   46,264,414            
Weighted average life     5 years 10 months 21 days [1]            
Amortized Cost Basis 142,847 [2]   142,847 [2]            
Carrying Value 206,350 [3]   206,350 [3]           144,660
Agency | Original and Recaptured Pools
                 
Investment [Line Items]                  
Unpaid principal balance of underlying loans 46,264,414   46,264,414            
Weighted average life     5 years 5 months 17 days [1]            
Amortized Cost Basis 134,087 [2]   134,087 [2]            
Carrying Value 176,482 [3]   176,482 [3]           120,271
Agency | Recapture Agreements
                 
Investment [Line Items]                  
Unpaid principal balance of underlying loans 0   0            
Weighted average life     12 years 5 months 16 days [1]            
Amortized Cost Basis 8,760 [2]   8,760 [2]            
Carrying Value 29,868 [3]   29,868 [3]           24,389
Non-Agency
                 
Investment [Line Items]                  
Unpaid principal balance of underlying loans 52,776,751 [4]   52,776,751 [4]            
Weighted average life     5 years 8 months 11 days [1],[4]            
Amortized Cost Basis 162,999 [2],[4]   162,999 [2],[4]            
Carrying Value 202,886 [3],[4]   202,886 [3],[4]           179,491 [4]
Non-Agency | Original and Recaptured Pools
                 
Investment [Line Items]                  
Unpaid principal balance of underlying loans 52,776,751 [4]   52,776,751 [4]            
Weighted average life     5 years 2 months 1 day [1],[4]            
Amortized Cost Basis 151,734 [2],[4]   151,734 [2],[4]            
Carrying Value 193,676 [3],[4]   193,676 [3],[4]           173,007 [4]
Non-Agency | Recapture Agreements
                 
Investment [Line Items]                  
Unpaid principal balance of underlying loans 0 [4]   0 [4]            
Weighted average life     12 years 8 months 23 days [1],[4]            
Amortized Cost Basis 11,265 [2],[4]   11,265 [2],[4]            
Carrying Value $ 9,210 [3],[4]   $ 9,210 [3],[4]           $ 6,484 [4]
Lower Range | Agency | Original and Recaptured Pools
                 
Investment [Line Items]                  
Percentage of Investment owned by New Residential 32.50%   32.50%            
Lower Range | Agency | Recapture Agreements
                 
Investment [Line Items]                  
Percentage of Investment owned by New Residential 32.50%   32.50%            
Lower Range | Non-Agency | Original and Recaptured Pools
                 
Investment [Line Items]                  
Percentage of Investment owned by New Residential 33.30% [4]   33.30% [4]            
Lower Range | Non-Agency | Recapture Agreements
                 
Investment [Line Items]                  
Percentage of Investment owned by New Residential 33.30% [4]   33.30% [4]            
Upper Range | Agency | Original and Recaptured Pools
                 
Investment [Line Items]                  
Percentage of Investment owned by New Residential 66.70%   66.70%            
Upper Range | Agency | Recapture Agreements
                 
Investment [Line Items]                  
Percentage of Investment owned by New Residential 66.70%   66.70%            
Upper Range | Non-Agency | Original and Recaptured Pools
                 
Investment [Line Items]                  
Percentage of Investment owned by New Residential 80.00% [4]   80.00% [4]            
Upper Range | Non-Agency | Recapture Agreements
                 
Investment [Line Items]                  
Percentage of Investment owned by New Residential 80.00% [4]   80.00% [4]            
[1] Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[2] The amortized cost basis of the Recapture Agreements is determined based on the relative fair values of the Recapture Agreements and related Excess MSRs at the time they were acquired.
[3] Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.
[4] Excess MSR investments in which New Residential also invested in related servicer advances, including the basic fee component of the related MSR as of September 30, 2014 (Note 6).