Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES - Excess MSR Investments (Details)

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INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES - Excess MSR Investments (Details) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Jul. 08, 2014
May 13, 2014
May 12, 2014
Jan. 17, 2014
Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans $ 99,041,165 $ 2,100,000 $ 700,000 $ 12,800,000 $ 8,100,000  
Amortized Cost Basis 305,846 [1]          
Carrying Value 409,236 [2]         324,151
Weighted average life 5 years 9 months 14 days [3]          
Excess Mortgage Servicing Rights Investees
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 152,436,227          
New Residential's ownership 50.00%         50.00%
Amortized Cost Basis 577,338 [4]          
Carrying Value 679,146 [5]          
Weighted average life 6 years 2 months 16 days [6]          
Excess Mortgage Servicing Rights Investees | MSRs
           
Schedule of Equity Method Investments [Line Items]            
New Residential's ownership 50.00%          
Agency
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 46,264,414          
Amortized Cost Basis 142,847 [1]          
Carrying Value 206,350 [2]         144,660
Weighted average life 5 years 10 months 21 days [3]          
Agency | Original and Recaptured Pools
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 46,264,414          
Amortized Cost Basis 134,087 [1]          
Carrying Value 176,482 [2]         120,271
Weighted average life 5 years 5 months 17 days [3]          
Agency | Recapture Agreements
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 0          
Amortized Cost Basis 8,760 [1]          
Carrying Value 29,868 [2]         24,389
Weighted average life 12 years 5 months 16 days [3]          
Agency | Excess Mortgage Servicing Rights Investees
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 91,366,989          
Amortized Cost Basis 381,775 [4]          
Carrying Value 470,400 [5]          
Weighted average life 6 years 6 months 15 days [6]          
Agency | Excess Mortgage Servicing Rights Investees | Original and Recaptured Pools
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 91,366,989          
Investee Interest in Excess MSR 66.70%          
New Residential's ownership 50.00%          
Amortized Cost Basis 309,094 [4]          
Carrying Value 378,367 [5]          
Weighted average life 5 years 1 month 17 days [6]          
Agency | Excess Mortgage Servicing Rights Investees | Recapture Agreements
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 0          
Investee Interest in Excess MSR 66.70%          
New Residential's ownership 50.00%          
Amortized Cost Basis 72,681 [4]          
Carrying Value 92,033 [5]          
Weighted average life 12 years 6 months 4 days [6]          
Non-Agency
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 52,776,751 [7]          
Amortized Cost Basis 162,999 [1],[7]          
Carrying Value 202,886 [2],[7]         179,491 [7]
Weighted average life 5 years 8 months 11 days [3],[7]          
Non-Agency | Original and Recaptured Pools
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 52,776,751 [7]          
Amortized Cost Basis 151,734 [1],[7]          
Carrying Value 193,676 [2],[7]         173,007 [7]
Weighted average life 5 years 2 months 1 day [3],[7]          
Non-Agency | Recapture Agreements
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 0 [7]          
Amortized Cost Basis 11,265 [1],[7]          
Carrying Value 9,210 [2],[7]         6,484 [7]
Weighted average life 12 years 8 months 23 days [3],[7]          
Non-Agency | Excess Mortgage Servicing Rights Investees
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 61,069,238 [7]          
Amortized Cost Basis 195,563 [4],[7]          
Carrying Value 208,746 [5],[7]          
Weighted average life 5 years 7 months 2 days [6],[7]          
Non-Agency | Excess Mortgage Servicing Rights Investees | Original and Recaptured Pools
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 61,069,238 [7]          
New Residential's ownership 50.00% [7]          
Amortized Cost Basis 182,665 [4],[7]          
Carrying Value 196,485 [5],[7]          
Weighted average life 5 years 1 month 6 days [6],[7]          
Non-Agency | Excess Mortgage Servicing Rights Investees | Original and Recaptured Pools | Lower Range
           
Schedule of Equity Method Investments [Line Items]            
Investee Interest in Excess MSR 66.70% [7]          
Non-Agency | Excess Mortgage Servicing Rights Investees | Original and Recaptured Pools | Upper Range
           
Schedule of Equity Method Investments [Line Items]            
Investee Interest in Excess MSR 77.00% [7]          
Non-Agency | Excess Mortgage Servicing Rights Investees | Recapture Agreements
           
Schedule of Equity Method Investments [Line Items]            
Unpaid principal balance of underlying loans 0 [7]          
New Residential's ownership 50.00% [7]          
Amortized Cost Basis 12,898 [4],[7]          
Carrying Value $ 12,261 [5],[7]          
Weighted average life 12 years 5 months 1 day [6],[7]          
Non-Agency | Excess Mortgage Servicing Rights Investees | Recapture Agreements | Lower Range
           
Schedule of Equity Method Investments [Line Items]            
Investee Interest in Excess MSR 66.70% [7]          
Non-Agency | Excess Mortgage Servicing Rights Investees | Recapture Agreements | Upper Range
           
Schedule of Equity Method Investments [Line Items]            
Investee Interest in Excess MSR 77.00% [7]          
[1] 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.
[2] Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.
[3] Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[4] Represents the amortized cost basis of the equity method investees in which New Residential holds a 50% interest. 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.
[5] Represents the carrying value of the Excess MSRs held in equity method investees, in which New Residential holds a 50% interest. Carrying value represents the fair value of the pools or Recapture Agreements, as applicable.
[6] The weighted average life represents the weighted average expected timing of the receipt of cash flows of each investment.
[7] 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).