Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS - Schedule of Debt Obligations - Carrying Value (Details)

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DEBT OBLIGATIONS - Schedule of Debt Obligations - Carrying Value (Details) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Debt Instrument [Roll Forward]    
Beginning balance [1] $ 11,292,622  
Borrowings 22,065,713 $ 6,184,472
Repayments (21,179,260) $ (5,644,864)
Ending balance [1] 12,763,153  
Excess MSRs [Member]    
Debt Instrument [Roll Forward]    
Beginning balance 182,978  
Ending balance 268,290  
Servicer Advances [Member]    
Debt Instrument [Roll Forward]    
Beginning balance [2] 7,047,061  
Ending balance [2] 5,897,747  
Real Estate Securities [Member]    
Debt Instrument [Roll Forward]    
Beginning balance 3,017,157  
Ending balance 4,236,722  
Real Estate Loans and REO [Member]    
Debt Instrument [Roll Forward]    
Beginning balance 1,004,980  
Ending balance 653,197  
Consumer Loans [Member]    
Debt Instrument [Roll Forward]    
Beginning balance 40,446  
Ending balance 1,707,197  
Repurchase Agreements [Member]    
Debt Instrument [Roll Forward]    
Borrowings 22,067,288  
Repayments (21,179,260)  
Capitalized deferred financing costs, net of amortization (1,138)  
Repurchase Agreements [Member] | Excess MSRs [Member]    
Debt Instrument [Roll Forward]    
Borrowings 0  
Repayments 0  
Capitalized deferred financing costs, net of amortization 0  
Repurchase Agreements [Member] | Servicer Advances [Member]    
Debt Instrument [Roll Forward]    
Borrowings [2] 0  
Repayments [2] 0  
Capitalized deferred financing costs, net of amortization [2] 0  
Repurchase Agreements [Member] | Real Estate Securities [Member]    
Debt Instrument [Roll Forward]    
Borrowings 21,719,656  
Repayments (20,500,091)  
Capitalized deferred financing costs, net of amortization 0  
Repurchase Agreements [Member] | Real Estate Loans and REO [Member]    
Debt Instrument [Roll Forward]    
Borrowings 326,174  
Repayments (670,333)  
Capitalized deferred financing costs, net of amortization (1,138)  
Repurchase Agreements [Member] | Consumer Loans [Member]    
Debt Instrument [Roll Forward]    
Borrowings 21,458  
Repayments (8,836)  
Capitalized deferred financing costs, net of amortization 0  
Notes Payable [Member]    
Debt Instrument [Roll Forward]    
Acquired borrowings, net of discount 1,803,192  
Borrowings 5,567,309  
Repayments (6,786,408)  
Discount on borrowings, net of amortization 1,567  
Capitalized deferred financing costs, net of amortization (2,019)  
Notes Payable [Member] | Excess MSRs [Member]    
Debt Instrument [Roll Forward]    
Acquired borrowings, net of discount 0  
Borrowings 401,740  
Repayments (315,662)  
Discount on borrowings, net of amortization 1,420  
Capitalized deferred financing costs, net of amortization (2,186)  
Notes Payable [Member] | Servicer Advances [Member]    
Debt Instrument [Roll Forward]    
Beginning balance [1],[3] 7,047,061  
Acquired borrowings, net of discount [2] 0  
Borrowings [2] 5,101,227  
Repayments [2] (6,251,482)  
Discount on borrowings, net of amortization [2] 0  
Capitalized deferred financing costs, net of amortization [2] 941  
Ending balance [1],[3] 5,897,747  
Notes Payable [Member] | Real Estate Securities [Member]    
Debt Instrument [Roll Forward]    
Acquired borrowings, net of discount 0  
Borrowings 0  
Repayments 0  
Discount on borrowings, net of amortization 0  
Capitalized deferred financing costs, net of amortization 0  
Notes Payable [Member] | Real Estate Loans and REO [Member]    
Debt Instrument [Roll Forward]    
Acquired borrowings, net of discount 0  
Borrowings 0  
Repayments (6,311)  
Discount on borrowings, net of amortization 0  
Capitalized deferred financing costs, net of amortization (175)  
Notes Payable [Member] | Consumer Loans [Member]    
Debt Instrument [Roll Forward]    
Beginning balance [1],[4],[5] 0  
Acquired borrowings, net of discount 1,803,192  
Borrowings 64,342  
Repayments (212,953)  
Discount on borrowings, net of amortization 147  
Capitalized deferred financing costs, net of amortization (599)  
Ending balance [1],[4],[5] $ 1,654,129  
[1] Net of deferred financing costs.
[2] New Residential net settles daily borrowings and repayments of the Notes and Bonds Payable on its Servicer Advances.
[3] $2.2 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 2.1% to 2.2%.
[4] Includes a $64.3 million face amount note collateralized by newly originated consumer loans which bears interest equal to one-month LIBOR plus 3.25%.
[5] ncludes the debt assumed in the SpringCastle Transaction (Note 1), which is comprised of the following classes of asset-backed notes (collectively, the “2014-A Notes”) held by third parties: $637.1 million UPB of Class A notes with a coupon of 2.7% and a stated maturity date in May 2023 (the “Class A Notes”); $427.0 million UPB of Class B notes with a coupon of 4.61% and a stated maturity date in October 2027 (the “Class B Notes”); $331.2 million UPB of Class C notes with a coupon of 5.59% and a stated maturity date in October 2033 (the “Class C Notes”); and $199.8 million UPB of Class D notes with a coupon of 6.82% and a stated maturity date in April 2034 (the “Class D Notes”). Prior to the payment date in October 2016, the redemption price for any class of the outstanding 2014-A Notes shall be the sum of (i) 100% of the UPB of the 2014-A Notes of the applicable class to be redeemed, plus (ii) the applicable Specified Call Premium Amount (as defined below) for such 2014-A Notes, plus (iii) accrued and unpaid interest and fees in respect of such 2014-A Notes. On or after the payment date occurring in October 2016, the redemption price for any class of 2014-A Notes shall be the sum of (i) 100% of the UPB of the 2014-A Notes of the applicable class to be redeemed, plus (ii) accrued and unpaid interest and fees in respect of such 2014-A Notes. The “Specified Call Premium Amount” on any payment date for any class of 2014-A Notes shall mean (i) in the case of Class A Notes, an amount equal to 1.00% of the UPB of the Class A Notes to be redeemed and (ii) in the case of the Class B Notes, the Class C Notes and the Class D Notes, an amount equal to (a) the product of (1) with respect to the Class B Notes, 0.75%, with respect to the Class C Notes, 1.00% and with respect to the Class D Notes, 2.00%, times (2) the UPB of the 2014-A Notes of such class to be redeemed on such payment date, times (3) the number of days, computed on a 30/360 basis, from and including such payment date to but excluding the payment date occurring in October 2016, divided by (b) 360.