Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN REAL ESTATE SECURITIES - Holdings in an Unrealized Loss Position and the Associated Intent to Sell (Details)

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INVESTMENTS IN REAL ESTATE SECURITIES - Holdings in an Unrealized Loss Position and the Associated Intent to Sell (Details) (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2014
Securities Intended To Sell
 
Schedule of Available-for-sale Securities [Line Items]  
Fair Value $ 0 [1]
Amortized Cost Basis after impairment 0 [1]
Unrealized Credit Losses 0 [1],[2]
Unrealized Non-Credit Losses 0 [1],[3]
Securities More Likely Than Not Required to be Sold [Member]
 
Schedule of Available-for-sale Securities [Line Items]  
Fair Value 0 [1]
Amortized Cost Basis after impairment 0 [1]
Unrealized Credit Losses 0 [1],[2]
Securities No Intent To Sell - Credit Impaired
 
Schedule of Available-for-sale Securities [Line Items]  
Fair Value 71,755
Amortized Cost Basis after impairment 71,821
Unrealized Credit Losses (529) [2]
Unrealized Non-Credit Losses (595) [3]
Securities No Intent To Sell - Non-Credit Impaired
 
Schedule of Available-for-sale Securities [Line Items]  
Fair Value 995,637
Amortized Cost Basis after impairment 1,002,795
Unrealized Credit Losses 0
Unrealized Non-Credit Losses (7,157) [3]
Securities in an Unrealized Loss Position
 
Schedule of Available-for-sale Securities [Line Items]  
Fair Value 1,067,392
Amortized Cost Basis after impairment 1,074,616
Unrealized Credit Losses (529) [2]
Unrealized Non-Credit Losses $ (7,752) [3]
[1] A portion of securities New Residential intends to sell have a fair value equal to their amortized cost basis after impairment, and, therefore do not have unrealized losses reflected in other comprehensive income as of September 30, 2014.
[2] This amount is required to be recorded as other-than-temporary impairment through earnings. In measuring the portion of credit losses, New Residential’s management estimates the expected cash flow for each of the securities. This evaluation includes a review of the credit status and the performance of the collateral supporting those securities, including the credit of the issuer, key terms of the securities and the effect of local, industry and broader economic trends. Significant inputs in estimating the cash flows include management’s expectations of prepayment speeds, default rates and loss severities. Credit losses are measured as the decline in the present value of the expected future cash flows discounted at the investment’s effective interest rate.
[3] This amount represents unrealized losses on securities that are due to non-credit factors and recorded through other comprehensive income.