Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Summary of Direct Investments in Excess MSRs (Details)

v3.5.0.2
INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Summary of Direct Investments in Excess MSRs (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Dec. 31, 2015
Investment [Line Items]          
Weighted Average Life (Years)     11 months 13 days    
Principal investment gain (loss) $ (17,060) $ 1,131 $ (24,397) $ (274)  
Servicer Advance Joint Venture [Member] | Servicer Advances [Member]          
Investment [Line Items]          
UPB of Underlying Mortgages [1] 194,223,701   194,223,701   $ 220,256,804
Original and Recaptured Pools [Member]          
Investment [Line Items]          
Principal investment gain (loss) (15,395) 1,485 (28,392) (3,933)  
Recapture Agreements [Member]          
Investment [Line Items]          
Principal investment gain (loss) (1,665) $ (354) 3,995 $ 3,659  
Excess MSRs [Member]          
Investment [Line Items]          
UPB of Underlying Mortgages 290,291,012   $ 290,291,012    
Weighted Average Life (Years) [2]     6 years 3 months 18 days    
Amortized Cost Basis [3] 1,280,285   $ 1,280,285    
Carrying Value [4] 1,404,052   1,404,052   1,581,517
Excess MSRs [Member] | Nationstar [Member]          
Investment [Line Items]          
Carrying Value 626,021   626,021   698,304
Excess MSRs [Member] | Agency [Member]          
Investment [Line Items]          
UPB of Underlying Mortgages 82,159,586   $ 82,159,586    
Weighted Average Life (Years) [2]     6 years 4 months 24 days    
Amortized Cost Basis [3] 330,958   $ 330,958    
Carrying Value [4] 388,764   388,764   437,201
Excess MSRs [Member] | Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
UPB of Underlying Mortgages 82,159,586   $ 82,159,586    
Weighted Average Life (Years) [2]     5 years 10 months 24 days    
Amortized Cost Basis [3] 302,541   $ 302,541    
Carrying Value [4] $ 333,816   $ 333,816   378,083
Excess MSRs [Member] | Agency [Member] | Original and Recaptured Pools [Member] | Minimum [Member]          
Investment [Line Items]          
Interest in Excess MSR 32.50%   32.50%    
Excess MSRs [Member] | Agency [Member] | Original and Recaptured Pools [Member] | Maximum [Member]          
Investment [Line Items]          
Interest in Excess MSR 66.70%   66.70%    
Excess MSRs [Member] | Agency [Member] | Original and Recaptured Pools [Member] | Weighted Average [Member]          
Investment [Line Items]          
Interest in Excess MSR 53.30%   53.30%    
Excess MSRs [Member] | Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
UPB of Underlying Mortgages $ 0   $ 0    
Weighted Average Life (Years) [2]     11 years 10 months 24 days    
Amortized Cost Basis [3] 28,417   $ 28,417    
Carrying Value [4] $ 54,948   $ 54,948   59,118
Excess MSRs [Member] | Agency [Member] | Recapture Agreements [Member] | Minimum [Member]          
Investment [Line Items]          
Interest in Excess MSR 32.50%   32.50%    
Excess MSRs [Member] | Agency [Member] | Recapture Agreements [Member] | Maximum [Member]          
Investment [Line Items]          
Interest in Excess MSR 66.70%   66.70%    
Excess MSRs [Member] | Agency [Member] | Recapture Agreements [Member] | Weighted Average [Member]          
Investment [Line Items]          
Interest in Excess MSR 53.70%   53.70%    
Excess MSRs [Member] | Agency [Member] | Fortress [Member] | Original and Recaptured Pools [Member] | Minimum [Member]          
Investment [Line Items]          
Interest in Excess MSR 0.00%   0.00%    
Excess MSRs [Member] | Agency [Member] | Fortress [Member] | Original and Recaptured Pools [Member] | Maximum [Member]          
Investment [Line Items]          
Interest in Excess MSR 40.00%   40.00%    
Excess MSRs [Member] | Agency [Member] | Fortress [Member] | Recapture Agreements [Member] | Minimum [Member]          
Investment [Line Items]          
Interest in Excess MSR 0.00%   0.00%    
Excess MSRs [Member] | Agency [Member] | Fortress [Member] | Recapture Agreements [Member] | Maximum [Member]          
Investment [Line Items]          
Interest in Excess MSR 40.00%   40.00%    
Excess MSRs [Member] | Agency [Member] | Nationstar [Member] | Original and Recaptured Pools [Member] | Minimum [Member]          
Investment [Line Items]          
Interest in Excess MSR 20.00%   20.00%    
Excess MSRs [Member] | Agency [Member] | Nationstar [Member] | Original and Recaptured Pools [Member] | Maximum [Member]          
Investment [Line Items]          
Interest in Excess MSR 35.00%   35.00%    
Excess MSRs [Member] | Agency [Member] | Nationstar [Member] | Recapture Agreements [Member] | Minimum [Member]          
Investment [Line Items]          
Interest in Excess MSR 20.00%   20.00%    
Excess MSRs [Member] | Agency [Member] | Nationstar [Member] | Recapture Agreements [Member] | Maximum [Member]          
Investment [Line Items]          
Interest in Excess MSR 35.00%   35.00%    
Excess MSRs [Member] | Non-Agency [Member]          
Investment [Line Items]          
UPB of Underlying Mortgages [5] $ 208,131,426   $ 208,131,426    
Weighted Average Life (Years) [2],[5]     6 years 3 months 18 days    
Amortized Cost Basis [3],[5] 949,327   $ 949,327    
Carrying Value [4],[5] 1,015,288   1,015,288   1,144,316
Excess MSRs [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]          
Investment [Line Items]          
UPB of Underlying Mortgages [5] 82,010,764   $ 82,010,764    
Weighted Average Life (Years) [2],[5]     5 years 3 months 18 days    
Amortized Cost Basis [3],[5] 190,184   $ 190,184    
Carrying Value [4],[5] $ 227,883   $ 227,883   250,662
Excess MSRs [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member] | Minimum [Member]          
Investment [Line Items]          
Interest in Excess MSR [6] 33.30%   33.30%    
Excess MSRs [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member] | Maximum [Member]          
Investment [Line Items]          
Interest in Excess MSR [6] 80.00%   80.00%    
Excess MSRs [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member] | Weighted Average [Member]          
Investment [Line Items]          
Interest in Excess MSR [6] 59.30%   59.30%    
Excess MSRs [Member] | Non-Agency [Member] | Recapture Agreements [Member]          
Investment [Line Items]          
UPB of Underlying Mortgages [5] $ 0   $ 0    
Weighted Average Life (Years) [2],[5]     12 years 1 month 6 days    
Amortized Cost Basis [3],[5] 12,210   $ 12,210    
Carrying Value [4],[5] $ 13,783   $ 13,783   15,748
Excess MSRs [Member] | Non-Agency [Member] | Recapture Agreements [Member] | Minimum [Member]          
Investment [Line Items]          
Interest in Excess MSR [6] 33.30%   33.30%    
Excess MSRs [Member] | Non-Agency [Member] | Recapture Agreements [Member] | Maximum [Member]          
Investment [Line Items]          
Interest in Excess MSR [6] 80.00%   80.00%    
Excess MSRs [Member] | Non-Agency [Member] | Recapture Agreements [Member] | Weighted Average [Member]          
Investment [Line Items]          
Interest in Excess MSR [6] 56.80%   56.80%    
Excess MSRs [Member] | Non-Agency [Member] | Ocwen Serviced Pools [Member]          
Investment [Line Items]          
UPB of Underlying Mortgages [5] $ 126,120,662   $ 126,120,662    
Interest in Excess MSR [5],[6] 100.00%   100.00%    
Weighted Average Life (Years) [2],[5]     6 years 4 months 24 days    
Amortized Cost Basis [3],[5] $ 746,933   $ 746,933    
Carrying Value [4],[5] $ 773,622   $ 773,622   $ 877,906
Excess MSRs [Member] | Non-Agency [Member] | Fortress [Member] | Original and Recaptured Pools [Member] | Minimum [Member]          
Investment [Line Items]          
Interest in Excess MSR [5] 0.00%   0.00%    
Excess MSRs [Member] | Non-Agency [Member] | Fortress [Member] | Original and Recaptured Pools [Member] | Maximum [Member]          
Investment [Line Items]          
Interest in Excess MSR [5] 50.00%   50.00%    
Excess MSRs [Member] | Non-Agency [Member] | Fortress [Member] | Recapture Agreements [Member] | Minimum [Member]          
Investment [Line Items]          
Interest in Excess MSR [5] 0.00%   0.00%    
Excess MSRs [Member] | Non-Agency [Member] | Fortress [Member] | Recapture Agreements [Member] | Maximum [Member]          
Investment [Line Items]          
Interest in Excess MSR [5] 50.00%   50.00%    
Excess MSRs [Member] | Non-Agency [Member] | Fortress [Member] | Ocwen Serviced Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR [5] 0.00%   0.00%    
Excess MSRs [Member] | Non-Agency [Member] | Nationstar [Member] | Original and Recaptured Pools [Member] | Minimum [Member]          
Investment [Line Items]          
Interest in Excess MSR [5] 0.00%   0.00%    
Excess MSRs [Member] | Non-Agency [Member] | Nationstar [Member] | Original and Recaptured Pools [Member] | Maximum [Member]          
Investment [Line Items]          
Interest in Excess MSR [5] 33.30%   33.30%    
Excess MSRs [Member] | Non-Agency [Member] | Nationstar [Member] | Recapture Agreements [Member] | Minimum [Member]          
Investment [Line Items]          
Interest in Excess MSR [5] 0.00%   0.00%    
Excess MSRs [Member] | Non-Agency [Member] | Nationstar [Member] | Recapture Agreements [Member] | Maximum [Member]          
Investment [Line Items]          
Interest in Excess MSR [5] 33.30%   33.30%    
Excess MSRs [Member] | Non-Agency [Member] | Nationstar [Member] | Ocwen Serviced Pools [Member]          
Investment [Line Items]          
Interest in Excess MSR [5] 0.00%   0.00%    
[1] The following types of advances comprise the investments in Servicer Advances: September 30, 2016December 31, 2015Principal and interest advances$1,651,576$2,229,468Escrow advances (taxes and insurance advances)2,786,2033,687,559Foreclosure advances1,580,1891,661,083Total$6,017,968 $7,578,110
[2] Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[3] The amortized cost basis of the recapture agreements is determined based on the relative fair values of the recapture agreements and related Excess MSRs at the time they were acquired.
[4] Carrying Value represents the fair value of the pools or recapture agreements, as applicable.
[5] New Residential also invested in the related Servicer Advances, including the basic fee component of the related MSR as of September 30, 2016 (Note 6) on $194.2 billion UPB underlying these Excess MSRs.
[6] Amounts in parentheses represent weighted averages.