Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Schedule of Residential Mortgage Loans Outstanding by Loan Type, Excluding REO (Details)

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INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Schedule of Residential Mortgage Loans Outstanding by Loan Type, Excluding REO (Details)
$ in Thousands
9 Months Ended
Sep. 30, 2016
USD ($)
loan
Dec. 31, 2015
USD ($)
Mortgage Loans on Real Estate [Line Items]    
Weighted Average Life (Years) 11 months 13 days  
Threshold period past due (in days) 60 days  
Discount on borrowings, net of amortization $ 4,800  
Reverse Mortgage Loans, Held-For-Investment [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount [1],[2] 0  
Carrying Value [1],[2] $ 0 $ 19,560
Loan Count | loan [1],[2] 0  
Weighted Average Yield [1],[2] 0.00%  
Weighted Average Life (Years) 0 years  
Floating Rate Loans as a % of Face Amount [1],[2] 0.00%  
Loan to Value Ratio (LTV) [1],[2],[3] 0.00%  
Weighted Average Delinquency [1],[2],[4] 0.00%  
Performing Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount [5],[6] $ 0  
Carrying Value [5],[6] $ 0 19,964
Loan Count | loan [5],[6] 0  
Weighted Average Yield [5],[6] 0.00%  
Weighted Average Life (Years) 0 years  
Floating Rate Loans as a % of Face Amount [5],[6] 0.00%  
Loan to Value Ratio (LTV) [3],[5],[6] 0.00%  
Weighted Average Delinquency [4],[5],[6] 0.00%  
Weighted Average FICO [5],[6],[7] 0  
Performing Loans [Member] | Ginnie Mae [Member]    
Mortgage Loans on Real Estate [Line Items]    
Unpaid Principal Balance $ 56,500  
Performing Loans [Member] | Maximum [Member]    
Mortgage Loans on Real Estate [Line Items]    
Threshold period past due (in days) 30 days  
Purchased Credit Deteriorated Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount $ 0  
Carrying Value $ 0 290,654
Loan Count | loan 0  
Weighted Average Yield 0.00%  
Weighted Average Life (Years) 0 years  
Floating Rate Loans as a % of Face Amount 0.00%  
Loan to Value Ratio (LTV) [3] 0.00%  
Weighted Average Delinquency [4] 0.00%  
Weighted Average FICO [7] 0  
Residential Mortgage Loans, held-for-investment [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount $ 0  
Carrying Value $ 0 330,178
Loan Count | loan 0  
Weighted Average Yield 0.00%  
Weighted Average Life (Years) 0 years  
Floating Rate Loans as a % of Face Amount 0.00%  
Loan to Value Ratio (LTV) [3] 0.00%  
Weighted Average Delinquency [4] 0.00%  
Weighted Average FICO [7] 0  
Reverse Mortgage Loans, Held-For-Sale [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount [1],[2] $ 23,878  
Carrying Value [1],[2] $ 11,836 0
Loan Count | loan [1],[2] 77  
Weighted Average Yield [1],[2] 7.30%  
Weighted Average Life (Years) [1],[2],[8] 4 years 5 months 25 days  
Floating Rate Loans as a % of Face Amount [1],[2] 15.70%  
Loan to Value Ratio (LTV) [1],[2],[3] 134.20%  
Weighted Average Delinquency [1],[2],[4] 71.80%  
Performing Loans, held-for-sale [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount [5],[6],[9] $ 103,234  
Carrying Value [5],[6],[9] $ 107,167 277,084
Loan Count | loan [5],[6],[9] 1,750  
Weighted Average Yield [5],[6],[9] 4.10%  
Weighted Average Life (Years) [5],[6],[8],[9] 4 years 1 month 28 days  
Floating Rate Loans as a % of Face Amount [5],[6],[9] 4.60%  
Loan to Value Ratio (LTV) [3],[5],[6],[9] 75.20%  
Weighted Average Delinquency [4],[5],[6],[9] 10.40%  
Weighted Average FICO [5],[6],[7],[9] 610  
Non-Performing Loans, held-for-sale [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount [9],[10] $ 800,411  
Carrying Value [9],[10] $ 586,478 499,597
Loan Count | loan [9],[10] 4,280  
Weighted Average Yield [9],[10] 7.10%  
Weighted Average Life (Years) [8],[9],[10] 2 years 9 months 10 days  
Floating Rate Loans as a % of Face Amount [9],[10] 17.80%  
Loan to Value Ratio (LTV) [3],[9],[10] 102.80%  
Weighted Average Delinquency [4],[9],[10] 79.80%  
Weighted Average FICO [7],[9],[10] 579  
Residential Mortgage Loans Held-for-Sale [Member]    
Mortgage Loans on Real Estate [Line Items]    
Outstanding Face Amount $ 927,523  
Carrying Value $ 705,481 $ 776,681
Loan Count | loan 6,107  
Weighted Average Yield 6.70%  
Weighted Average Life (Years) [8] 2 years 11 months 21 days  
Floating Rate Loans as a % of Face Amount 16.20%  
Loan to Value Ratio (LTV) [3] 100.60%  
Weighted Average Delinquency [4] 71.90%  
Weighted Average FICO [7] 583  
Reverse Mortgage Loans [Member]    
Mortgage Loans on Real Estate [Line Items]    
Interest in reverse mortgage loans 70.00%  
Unpaid principal balance $ 400  
Percentage of loans that have reached a termination event 66.00%  
Non-Performing Loans [Member] | Ginnie Mae [Member]    
Mortgage Loans on Real Estate [Line Items]    
Unpaid Principal Balance $ 99,200  
[1] FICO scores are not used in determining how much a borrower can access via a reverse mortgage loan.
[2] Represents a 70% participation interest that New Residential holds in a portfolio of reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.4 million. Approximately 66% of these loans have reached a termination event. As a result of the termination event, each such loan has matured and the borrower can no longer make draws on these loans.
[3] LTV refers to the ratio comparing the loan’s unpaid principal balance to the value of the collateral property.
[4] Represents the percentage of the total principal balance that are 60+ days delinquent.
[5] Includes loans that are current or less than 30 days past due at acquisition where New Residential expects to collect all contractually required principal and interest payments. Presented net of unamortized premiums of $4.8 million.
[6] Performing loans are generally placed on nonaccrual status when principal or interest is 120 days or more past due.
[7] The weighted average FICO score is based on the weighted average of information updated and provided by the loan servicer on a monthly basis.
[8] The weighted average life is based on the expected timing of the receipt of cash flows.
[9] Includes $56.5 million and $99.2 million UPB of Ginnie Mae EBO performing and non-performing loans, respectively, on accrual status because contractual cash flows are guaranteed by the FHA.
[10] Includes loans with evidence of credit deterioration since origination where it is probable that New Residential will not collect all contractually required principal and interest payments. As of September 30, 2016, New Residential has placed all of these loans on nonaccrual status, except as described in (J) below.