Quarterly report pursuant to Section 13 or 15(d)

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

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INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Carrying Value of Residential Mortgage Loans (Details) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Reverse Mortgage Loans
 
Movement in Mortgage Loans on Real Estate [Roll Forward]  
Balance, beginning $ 33,539 [1]
Purchases / additional fundings 0
Proceeds from repayments (2,143)
Accretion of loan discount and other amortization 4,819
Transfer of loans to other assets (7,165)
Transfer of loans held for sale 0
Reversal of valuation provision on loans transferred to other assets 54
Allowance for loan losses (878)
Balance, ending 28,226
Performing Loans
 
Movement in Mortgage Loans on Real Estate [Roll Forward]  
Balance, beginning 0 [2],[3]
Purchases / additional fundings 107,626
Proceeds from repayments (9,205)
Accretion of loan discount and other amortization 2,171
Transfer of loans to other assets 0
Transfer of loans held for sale 0
Reversal of valuation provision on loans transferred to other assets 0
Allowance for loan losses (713)
Balance, ending $ 99,879
[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.