Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Financial Assets Measured at Fair Value on a Recurring Basis using Level 3 Inputs (Details)

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FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Financial Assets Measured at Fair Value on a Recurring Basis using Level 3 Inputs (Details) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2016
Dec. 31, 2015
Excess MSRs Investees [Member]    
Purchases, sales and repayments    
New Residential’s ownership 50.00% 50.00012%
Recurring Basis [Member] | Level 3 [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning $ 10,809,815  
Transfers from Level 3 [1] 0  
Transfers to Level 3 [1] 0  
Gains (losses) included in net income    
Included in other-than-temporary impairment (''OTTI'') on securities [2] (7,838)  
Included in change in fair value of investments in excess mortgage servicing rights [2] (24,397)  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [2] 8,608  
Included in change in fair value of investments in Servicer Advances 4,328  
Included in gain (loss) on settlement of investments, net (20,950)  
Included in other income [2] (591)  
Gains (losses) included in other comprehensive income, net of tax [3] 105,031  
Interest income 498,314  
Purchases, sales and repayments    
Purchases 13,886,983  
Proceeds from sales (95,430)  
Proceeds from repayments (13,963,614)  
Balance, ending 11,200,259  
Recurring Basis [Member] | Level 3 [Member] | Non-Agency RMBS [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning 1,584,283  
Transfers from Level 3 [1] 0  
Transfers to Level 3 [1] 0  
Gains (losses) included in net income    
Included in other-than-temporary impairment (''OTTI'') on securities [2] (7,838)  
Included in change in fair value of investments in excess mortgage servicing rights [2] 0  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [2] 0  
Included in change in fair value of investments in Servicer Advances 0  
Included in gain (loss) on settlement of investments, net (20,950)  
Included in other income [2] (2,779)  
Gains (losses) included in other comprehensive income, net of tax [3] 105,031  
Interest income 133,589  
Purchases, sales and repayments    
Purchases 2,298,446  
Proceeds from sales (95,430)  
Proceeds from repayments (437,418)  
Balance, ending 3,556,934  
Recurring Basis [Member] | Level 3 [Member] | Servicer Advances [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning 7,426,794  
Transfers from Level 3 [1] 0  
Transfers to Level 3 [1] 0  
Gains (losses) included in net income    
Included in other-than-temporary impairment (''OTTI'') on securities [2] 0  
Included in change in fair value of investments in excess mortgage servicing rights [2] 0  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [2] 0  
Included in change in fair value of investments in Servicer Advances 4,328  
Included in gain (loss) on settlement of investments, net 0  
Included in other income [2] 0  
Gains (losses) included in other comprehensive income, net of tax [3] 0  
Interest income 257,877  
Purchases, sales and repayments    
Purchases 11,588,537  
Proceeds from sales 0  
Proceeds from repayments (13,234,167)  
Balance, ending 6,043,369  
Recurring Basis [Member] | Level 3 [Member] | MSRs Agency [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning [4] 437,201  
Transfers from Level 3 [1],[4] 0  
Transfers to Level 3 [1],[4] 0  
Gains (losses) included in net income    
Included in other-than-temporary impairment (''OTTI'') on securities [2],[4] 0  
Included in change in fair value of investments in excess mortgage servicing rights [2],[4] (7,292)  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [2],[4] 0  
Included in change in fair value of investments in Servicer Advances [4] 0  
Included in gain (loss) on settlement of investments, net [4] 0  
Included in other income [2],[4] 1,930  
Gains (losses) included in other comprehensive income, net of tax [3],[4] 0  
Interest income [4] 25,156  
Purchases, sales and repayments    
Purchases [4] 0  
Proceeds from sales [4] 0  
Proceeds from repayments [4] (68,231)  
Balance, ending [4] 388,764  
Recurring Basis [Member] | Level 3 [Member] | MSRs Agency [Member] | Excess MSRs Investees [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning [4],[5] 217,221  
Transfers from Level 3 [1],[4],[5] 0  
Transfers to Level 3 [1],[4],[5] 0  
Gains (losses) included in net income    
Included in other-than-temporary impairment (''OTTI'') on securities [2],[4],[5] 0  
Included in change in fair value of investments in excess mortgage servicing rights [2],[4],[5] 0  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [2],[4],[5] 8,608  
Included in change in fair value of investments in Servicer Advances [4],[5] 0  
Included in gain (loss) on settlement of investments, net [4],[5] 0  
Included in other income [2],[4],[5] 0  
Gains (losses) included in other comprehensive income, net of tax [3],[4],[5] 0  
Interest income [4],[5] 0  
Purchases, sales and repayments    
Purchases [4],[5] 0  
Proceeds from sales [4],[5] 0  
Proceeds from repayments [4],[5] (29,925)  
Balance, ending [4],[5] 195,904  
Recurring Basis [Member] | Level 3 [Member] | MSRs Non-Agency [Member]    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Balance, beginning [4] 1,144,316  
Transfers from Level 3 [1],[4] 0  
Transfers to Level 3 [1],[4] 0  
Gains (losses) included in net income    
Included in other-than-temporary impairment (''OTTI'') on securities [2],[4] 0  
Included in change in fair value of investments in excess mortgage servicing rights [2],[4] (17,105)  
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees [2],[4] 0  
Included in change in fair value of investments in Servicer Advances [4] 0  
Included in gain (loss) on settlement of investments, net [4] 0  
Included in other income [2],[4] 258  
Gains (losses) included in other comprehensive income, net of tax [3],[4] 0  
Interest income [4] 81,692  
Purchases, sales and repayments    
Purchases [4] 0  
Proceeds from sales [4] 0  
Proceeds from repayments [4] (193,873)  
Balance, ending [4] $ 1,015,288  
[1] Transfers are assumed to occur at the beginning of each respective period.
[2] 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 and realized gains (losses) recorded during the period.
[3] These gains (losses) were included in net unrealized gain (loss) on securities in the Condensed Consolidated Statements of Comprehensive Income.
[4] Includes the recapture agreement for each respective pool.
[5] Amounts represent New Residential’s portion of the Excess MSRs held by the respective joint ventures in which New Residential has a 50% interest.