Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS - Level 3 Rollforward (Details)

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FAIR VALUE OF FINANCIAL INSTRUMENTS - Level 3 Rollforward (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 9 Months Ended 9 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Excess Mortgage Servicing Rights Investees
Sep. 30, 2014
Level 3
Sep. 30, 2014
Recurring Basis
Level 3
Sep. 30, 2014
Recurring Basis
Level 3
Linked Transactions
Sep. 30, 2014
Recurring Basis
Level 3
Non-Agency RMBS
Sep. 30, 2014
Recurring Basis
Level 3
Servicer Advances
Sep. 30, 2014
Recurring Basis
Level 3
MSRs Agency
Dec. 31, 2013
Recurring Basis
Level 3
MSRs Agency
Excess Mortgage Servicing Rights Investees
Sep. 30, 2014
Recurring Basis
Level 3
MSRs Non-Agency
Sep. 30, 2014
Recurring Basis
Level 3
MSRs Non-Agency
Excess Mortgage Servicing Rights Investees
Sep. 30, 2014
MSRs Agency
Recurring Basis
Level 3
Excess Mortgage Servicing Rights Investees
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]                              
Balance, beginning           $ 4,288,087 $ 3,948,819 $ 35,926 $ 570,425 $ 2,665,551 $ 144,660 [1] $ 245,399 [1],[2] $ 179,491 [1] $ 107,367 [1],[2]  
Gains (losses) included in net income                              
Included in other-than-temporary impairment (“OTTI”) on securities             (479) [3]   (479) [3]            
Included in change in fair value of investments in excess mortgage servicing rights             40,670 [3]       19,590 [1],[3]   21,080 [1],[3]    
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees             23,887 [3]             8,825 [1],[2],[3] 15,062 [1],[2],[3]
Included in change in fair value of investments in servicer advances             105,825     105,825 [3]          
Included in gain on settlement of investments 938 11,213 57,834 11,271     60,296 0 60,296            
Included in other income             5,163 [3] 4,840   0 [3] 323        
Gains (losses) included in other comprehensive income, net of tax             3,753 [4]   3,753 [4]            
Interest income             235,528   16,972 153,790 15,808 [1]   21,895 [1] 8,216 [1],[2] 18,847 [1],[2]
Purchases, sales and repayments                              
Purchases             6,632,079 9,758 977,877 5,569,238 56,074 [1]   19,132 [1]    
Purchase adjustments             346 0     (59) [1]   405 [1]    
Proceeds from sales             (1,274,686) (1,495) (1,273,191)            
Proceeds from repayments             (5,480,657) (9,001) (61,024) (5,280,291) (30,046) [1]   (39,117) [1] (19,772) [1],[2] (41,406) [1],[2]
Transfers to REO             (12,457) (12,457)              
Balance, ending           $ 4,288,087   $ 27,571 $ 294,629 $ 3,214,113 $ 206,350 [1] $ 245,399 [1],[2] $ 202,886 [1] $ 104,636 [1],[2] $ 237,902 [1],[2]
New Residential's ownership         50.00%                    
[1] Includes the Recapture Agreement for each respective pool.
[2] Amounts represent New Residential’s portion of the Excess MSRs held by the respective joint ventures in which New Residential has a 50% interest.
[3] The gains (losses) recorded in earnings during the period are attributable to the change in unrealized gains (losses) relating to Level 3 assets still held at the reporting dates.
[4] These gains (losses) were included in net unrealized gain (loss) on securities in the Condensed Consolidated Statements of Comprehensive Income.