Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Inputs Used in Valuing Residential Mortgage Loans (Details)

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FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Inputs Used in Valuing Residential Mortgage Loans (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Valuation and Loss Provision/ (Reversal) In Current Year $ 18,275 $ (3,341) $ 41,845 $ 2,408
Weighted Average Life (Years)     11 months 13 days  
Reverse Mortgage Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Interest in reverse mortgage loans     70.00%  
Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Weighted Average Life (Years)     0 years  
Residential Mortgage [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Valuation and Loss Provision/ (Reversal) In Current Year     $ 77  
Discount Rate     7.40%  
Weighted Average Life (Years) [1]     2 years 10 months 15 days  
Loss Severity [2]     30.50%  
Residential Mortgage [Member] | Reverse Mortgage Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Valuation and Loss Provision/ (Reversal) In Current Year [3]     $ 73  
Discount Rate [3]     7.00%  
Weighted Average Life (Years) [1],[3]     4 years 5 months 25 days  
Loss Severity [2],[3]     10.80%  
Residential Mortgage [Member] | Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Valuation and Loss Provision/ (Reversal) In Current Year     $ 4  
Discount Rate     8.00%  
Weighted Average Life (Years) [1]     5 years 3 months 26 days  
Prepayment Rate     5.40%  
CDR [4]     2.40%  
Loss Severity [2]     59.30%  
Residential Mortgage [Member] | Non-Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Discount Rate     7.40%  
Weighted Average Life (Years) [1]     2 years 9 months 4 days  
Prepayment Rate     2.40%  
CDR [4]     3.00%  
Loss Severity [2]     30.00%  
Residential Mortgage [Member] | Carrying Value [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Carrying Value 595,112   $ 595,112  
Residential Mortgage [Member] | Carrying Value [Member] | Reverse Mortgage Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Carrying Value [3] 11,836   11,836  
Residential Mortgage [Member] | Carrying Value [Member] | Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Carrying Value 18,693   18,693  
Residential Mortgage [Member] | Carrying Value [Member] | Non-Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Carrying Value 564,583   564,583  
Residential Mortgage [Member] | Fair Value [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value 623,510   623,510  
Residential Mortgage [Member] | Fair Value [Member] | Reverse Mortgage Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value [3] 13,707   13,707  
Residential Mortgage [Member] | Fair Value [Member] | Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value 18,909   18,909  
Residential Mortgage [Member] | Fair Value [Member] | Non-Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value 590,894   590,894  
Consumer Loan [Member] | Consumer Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Valuation and Loss Provision/ (Reversal) In Current Year     $ 4,001  
Discount Rate     9.30%  
Weighted Average Life (Years) [1]     3 years 11 months 24 days  
Prepayment Rate     15.20%  
CDR [4]     5.50%  
Loss Severity [2]     88.00%  
Consumer Loan [Member] | Carrying Value [Member] | Consumer Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Carrying Value 1,821,979   $ 1,821,979  
Consumer Loan [Member] | Fair Value [Member] | Consumer Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value 1,852,118   $ 1,852,118  
Fair Value, Measurements, Nonrecurring [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Discount Rate     3.80%  
Weighted Average Life (Years) [5]     3 years 9 months 3 days  
Prepayment Rate     14.50%  
Loss Severity [6]     15.00%  
Fair Value, Measurements, Nonrecurring [Member] | Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Discount Rate     3.10%  
Weighted Average Life (Years) [5]     3 years 10 months 20 days  
Prepayment Rate     17.40%  
CDR [7]     0.60%  
Loss Severity [6]     11.30%  
Fair Value, Measurements, Nonrecurring [Member] | Non-Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Discount Rate     6.50%  
Weighted Average Life (Years) [5]     3 years 2 months 23 days  
Prepayment Rate     3.00%  
CDR [7]     3.00%  
Loss Severity [6]     30.00%  
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value 110,369   $ 110,369  
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member] | Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value 88,474   88,474  
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member] | Non-Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value $ 21,895   $ 21,895  
[1] The weighted average life is based on the expected timing of the receipt of cash flows.
[2] Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance.
[3] Carrying value and fair value represent a 70% participation interest New Residential holds in the portfolio of reverse mortgage loans.
[4] Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.
[5] The weighted average life is based on the expected timing of the receipt of cash flows.
[6] Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance.
[7] Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.