Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Residential Mortgage Loans (Details)

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INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Residential Mortgage Loans (Details) (USD $)
9 Months Ended 9 Months Ended 9 Months Ended 9 Months Ended 9 Months Ended 9 Months Ended
Sep. 30, 2014
Jul. 08, 2014
May 13, 2014
Sep. 30, 2014
Reverse Mortgage Loans
Dec. 31, 2013
Reverse Mortgage Loans
Feb. 27, 2013
Reverse Mortgage Loans
Sep. 30, 2014
Performing Loans
Dec. 31, 2013
Performing Loans
Sep. 30, 2014
Purchased Credit Impaired Loans
Dec. 31, 2013
Purchased Credit Impaired Loans
Sep. 30, 2014
Residential Mortgage Loans Held-for-Investment
Dec. 31, 2013
Residential Mortgage Loans Held-for-Investment
Sep. 30, 2014
Residential Mortgage Loans Held-for-Sale
Dec. 31, 2013
Residential Mortgage Loans Held-for-Sale
Mortgage Loans on Real Estate [Line Items]                            
Outstanding face amount       $ 49,759,000 [1]     $ 127,824,000 [2],[3]   $ 665,682,000   $ 843,265,000   $ 463,639,000  
Mortgage Loans on Real Estate, Carrying Amount of Mortgages, Including Interest       28,226,000 [1]     100,856,000 [2],[3]   500,316,000   629,398,000   492,399,000  
Loan count       228 [1]     697 [2],[3]   2,394   3,319   2,364  
Weighted average yield       10.30% [1]     5.10% [2],[3]   6.00%   6.10%   3.90%  
Weighted average life 5 years 9 months 14 days [4]     3 years 10 months 2 days [1],[5]     4 years 3 months 18 days [2],[3],[5]   2 years 2 months 12 days [5]   2 years 7 months 7 days [5]   6 years 8 months 12 days [5]  
Floating rate loans as a percent of face amount       20.60% [1]     12.80% [2],[3]   43.40%   37.40%   2.70%  
Gross Loan-to-Value       107.00% [1],[6]     108.00% [2],[3],[6]   115.00% [6]   113.00% [6]   125.00% [6]  
Weighted Average Delinquency       79.60% [1],[7]     3.90% [2],[3],[7]   92.70% [7]   78.50% [7]   0.00% [7]  
Weighted Average FICO             608   559   567   704  
Carrying value       28,226,000 33,539,000 [1]   99,879,000 0 [2],[3]   0   33,539,000   0
Interest in Excess MSR   32.50% 33.30%     70.00%                
Mortgage Loans on Real Estate, Unpaid Balance       $ 300,000                    
Percentage of loans that have reached a termination event       78.00%                    
Threshold Period Past Due for Write-off of Financing Receivable             30 days              
[1] Represents a 70% interest New Residential holds in reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.3 million. 78% 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.
[2] Carrying value includes accrued interest receivable.
[3] Includes loans that are current or less than 30 days past due at acquisition.
[4] Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[5] The weighted average life is based on the expected timing of the receipt of cash flows.
[6] LTV refers to the ratio comparing the loan’s unpaid principal balance to the value of the collateral property.
[7] Represents the percentage of the total principal balance that are 60+ days delinquent, none of which are on non-accrual status.