Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES - Summary of Investments (Details)

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INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES - Summary of 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
Apr. 01, 2014
Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]            
New Residential's investment $ 264,039   $ 264,039     $ 215,062
New Residential's equity in net income 22,490 24,129 60,185 60,293    
Consumer Loan Investees
           
Schedule of Equity Method Investments [Line Items]            
Consumer loan assets 2,192,487   2,192,487     2,572,577
Other assets 163,824   163,824     192,830
Debt (1,458,277) [1]   (1,458,277) [1]     (2,010,433) [1]
Other liabilities (17,904)   (17,904)     (32,712)
Equity 880,130   880,130     722,262
New Residential's investment 264,039   264,039     215,062
New Residential's ownership 30.00% 30.00% 30.00% 30.00% 30.00% 30.00%
Interest income 129,551 157,692 407,995 325,822    
Interest expense (17,685) (22,420) (57,986) (47,010)    
Provision for finance receivable losses (20,494) (30,568) (82,313) (31,122)    
Other expenses, net (17,925) (24,272) (57,656) (46,713)    
Change in fair value of debt 1,522 0 (14,810) 0    
Net income 74,969 80,432 195,230 200,977    
New Residential's equity in net income $ 22,490 $ 24,129 $ 60,185 $ 60,293    
[1] Represents the Class A asset-backed notes with a face amount of $1.1 billion, an interest rate of 3.75% and a maturity of April 2021 and the Class B asset-backed notes with a face amount of $0.3 billion, an interest rate of 4.0% and a maturity of December 2024. Substantially all of the net cash flow generated by the Consumer Loan Companies was required to be used to pay down the Class A notes. In June 2014, the balance of the outstanding Class A notes was reduced to 50% of the outstanding UPB of the performing consumer loans and the managing member was reimbursed by the Consumer Loan Companies for accumulated expenses. Prospectively, 70% of the net cash flow generated is required to be used to pay down the Class A notes, and the equity holders of the Consumer Loan Companies and holders of the Class B notes will each be entitled to receive 15% of the net cash flow of the Consumer Loan Companies on a periodic basis. See Note 18 for recent activities related to the debt at the Consumer Loan Companies.