Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS - Debt Obligations (Details)

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DEBT OBLIGATIONS - Debt Obligations (Details) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2014
Dec. 31, 2013
Debt Instrument [Line Items]    
Outstanding Face Amount $ 5,585,600  
Carrying Value 5,585,600 4,109,329
Weighted Average Funding Cost 2.17%  
Weighted Average Life (Years) 5 years 9 months 14 days [1]  
Residential Mortgage Loans(E)
   
Debt Instrument [Line Items]    
Variable Interest Rate Spread 3.25%  
Consumer Loans
   
Debt Instrument [Line Items]    
Variable Interest Rate Spread 2.00%  
Servicer Advances
   
Debt Instrument [Line Items]    
Carrying Value 2,824,007 [2]  
Secured Corporate Loan | Lower Range
   
Debt Instrument [Line Items]    
Variable Interest Rate Spread 1.30%  
Secured Corporate Loan | Upper Range
   
Debt Instrument [Line Items]    
Variable Interest Rate Spread 2.40%  
Debt [Member]
   
Debt Instrument [Line Items]    
Weighted Average Life (Years) 1 year 3 months 22 days  
Repurchase Agreements | Agency ARM RMBS
   
Debt Instrument [Line Items]    
Outstanding Face Amount 1,510,765 [3]  
Carrying Value 1,510,765 [3] 1,332,954 [3]
Weighted Average Funding Cost 0.31% [3]  
Weighted Average Life (Years) 1 month [3]  
Repurchase Agreements | Agency ARM RMBS | Collateral
   
Debt Instrument [Line Items]    
Weighted Average Life (Years) 6 years 3 months 4 days [3]  
Outstanding Face Amount of Collateral 1,500,141 [3]  
Amortized Cost Basis of Collateral 1,571,199 [3]  
Carrying Value of Collateral 1,570,328 [3]  
Repurchase Agreements | Non-Agency RMBS
   
Debt Instrument [Line Items]    
Outstanding Face Amount 214,972 [4]  
Carrying Value 214,972 [4] 287,757 [4]
Weighted Average Funding Cost 1.79% [4]  
Weighted Average Life (Years) 1 month 17 days [4]  
Repurchase Agreements | Non-Agency RMBS | Collateral
   
Debt Instrument [Line Items]    
Weighted Average Life (Years) 8 years 5 months 5 days [4]  
Outstanding Face Amount of Collateral 323,438 [4]  
Amortized Cost Basis of Collateral 260,995 [4]  
Carrying Value of Collateral 267,769 [4]  
Repurchase Agreements | Residential Mortgage Loans(E)
   
Debt Instrument [Line Items]    
Outstanding Face Amount 871,659 [5]  
Carrying Value 871,659 0
Weighted Average Funding Cost 2.60%  
Weighted Average Life (Years) 1 year 9 months 7 days  
Repurchase Agreements | Residential Mortgage Loans(E) | Collateral
   
Debt Instrument [Line Items]    
Weighted Average Life (Years) 4 years 1 month 6 days [5]  
Outstanding Face Amount of Collateral 1,257,145  
Amortized Cost Basis of Collateral 1,089,677  
Carrying Value of Collateral 1,093,571  
Repurchase Agreements | Consumer Loans
   
Debt Instrument [Line Items]    
Outstanding Face Amount 125,000 [6]  
Carrying Value 125,000 [6] 0 [6]
Weighted Average Funding Cost 3.45% [6]  
Weighted Average Life (Years) 3 months 18 days [6]  
Repurchase Agreements | Consumer Loans | Collateral
   
Debt Instrument [Line Items]    
Weighted Average Life (Years) 3 years 6 months [6]  
Carrying Value of Collateral 264,039 [6]  
Repurchase Agreements | Real Estate Owned(G)
   
Debt Instrument [Line Items]    
Outstanding Face Amount 15,953 [7]  
Carrying Value 15,953 [7] 0 [7]
Weighted Average Funding Cost 2.89% [7]  
Weighted Average Life (Years) 5 months 1 day [7]  
Repurchase Agreements | Real Estate Owned(G) | Collateral
   
Debt Instrument [Line Items]    
Carrying Value of Collateral 38,840 [7]  
Repurchase Agreements | Total Repurchase Agreements
   
Debt Instrument [Line Items]    
Outstanding Face Amount 2,738,349 [8]  
Carrying Value 2,738,349 [8] 1,620,711 [8]
Weighted Average Funding Cost 1.31% [8]  
Weighted Average Life (Years) 7 months 19 days [8]  
Notes Payable, Other Payables | Residential Mortgage Loans(E)
   
Debt Instrument [Line Items]    
Outstanding Face Amount 23,244 [9]  
Carrying Value 23,244 [9] 22,840 [9]
Weighted Average Funding Cost 3.41% [9]  
Weighted Average Life (Years) 1 month 6 days [9]  
Notes Payable, Other Payables | Residential Mortgage Loans(E) | Collateral
   
Debt Instrument [Line Items]    
Weighted Average Life (Years) 3 years 10 months 2 days [9]  
Outstanding Face Amount of Collateral 49,759 [9]  
Amortized Cost Basis of Collateral 29,511 [9]  
Carrying Value of Collateral 28,226 [9]  
Notes Payable, Other Payables | Servicer Advances
   
Debt Instrument [Line Items]    
Outstanding Face Amount 2,824,007 [10]  
Carrying Value 2,824,007 [10] 2,390,778 [10]
Weighted Average Funding Cost 2.99% [10]  
Weighted Average Life (Years) 1 year 11 months 22 days [10]  
Notes Payable, Other Payables | Servicer Advances | Collateral
   
Debt Instrument [Line Items]    
Weighted Average Life (Years) 4 years 2 months 12 days [10]  
Outstanding Face Amount of Collateral 3,041,905 [10]  
Amortized Cost Basis of Collateral 3,108,288 [10]  
Carrying Value of Collateral 3,214,113 [10]  
Notes Payable, Other Payables | Total Notes Payable
   
Debt Instrument [Line Items]    
Outstanding Face Amount 2,847,251  
Carrying Value 2,847,251 2,488,618
Weighted Average Funding Cost 2.99%  
Weighted Average Life (Years) 1 year 11 months 16 days  
Notes Payable, Other Payables | Secured Corporate Loan
   
Debt Instrument [Line Items]    
Carrying Value   $ 75,000 [10]
[1] Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[2] New Residential’s unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions. New Residential pays a 0.5% fee on the unused borrowing capacity.
[3] The counterparties of these repurchase agreements are Mizuho ($288.1 million), Morgan Stanley ($78.0 million), Barclays ($644.7 million), Daiwa ($146.5 million) and Jefferies ($353.5 million) and were subject to customary margin call provisions.
[4] The counterparties of these repurchase agreements are Barclays ($8.2 million), Credit Suisse ($49.6 million), Royal Bank of Scotland ($102.3 million), Royal Bank of Canada ($11.7 million), Bank of America ($1.9 million), Goldman Sachs ($27.2 million) and UBS ($14.0 million) and were subject to customary margin call provisions. All of the Non-Agency repurchase agreements have LIBOR-based floating interest rates.
[5] The counterparties on these repurchase agreements are Bank of America N.A. ($531.0 million), Nomura ($317.6 million), Citibank ($16.1 million) and Royal Bank of Scotland ($6.9 million). All of these repurchase agreements have LIBOR-based floating interest rates.
[6] The repurchase agreement is payable to Credit Suisse and bears interest equal to one-month LIBOR plus 2.0%.
[7] The counterparties of these repurchase agreements are Royal Bank of Scotland ($9.4 million), Credit Suisse ($3.3 million), Bank of America, N.A. ($2.0 million) and Nomura ($1.3 million). All of these repurchase agreements have LIBOR-based floating interest rates.
[8] These repurchase agreements had approximately $1.0 million of associated accrued interest payable as of September 30, 2014.
[9] The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 3.25%.
[10] $1.3 billion face amount of the notes have a fixed rate while the remaining notes bear interest equal to the sum of (i) a floating rate index rate equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.3% to 2.4%.