Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.19.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Investments in:    
Excess mortgage servicing rights, at fair value $ 436,137 $ 447,860
Excess mortgage servicing rights, equity method investees, at fair value 143,200 147,964
Mortgage servicing rights, at fair value 3,017,453 2,884,100
Mortgage servicing rights financing receivables, at fair value 1,717,872 1,644,504
Servicer advance investments, at fair value [1] 697,628 735,846
Real estate and other securities, available-for-sale 9,747,450 11,636,581
Residential mortgage loans, held-for-investment (includes $119,512 and $121,088 at fair value at March 31, 2019 and December 31, 2018, respectively) [1] 672,350 735,329
Residential mortgage loans, held-for-sale 997,164 932,480
Residential mortgage loans, held-for-sale, at fair value 3,204,322 2,808,529
Real estate owned 109,154 113,410
Residential mortgage loans subject to repurchase 140,135 121,602
Consumer loans, held-for-investment [1] 1,005,660 1,072,202
Consumer loans, equity method investees 51,528 38,294
Cash and cash equivalents [1] 340,911 251,058
Restricted cash 168,128 164,020
Servicer advances receivable 3,036,692 3,277,796
Trades receivable 7,049,723 3,925,198
Deferred tax asset, net 17,719 65,832
Other assets 856,342 688,408
Total assets 33,409,568 31,691,013
Liabilities    
Repurchase agreements 18,441,806 15,553,969
Notes and bonds payable (includes $116,124 and $117,048 at fair value at March 31, 2019 and December 31, 2018, respectively) [1] 6,952,102 7,102,266
Trades payable 206,638 2,048,348
Residential mortgage loans repurchase liability 140,135 121,602
Due to affiliates 27,885 101,471
Dividends payable 207,715 184,552
Accrued expenses and other liabilities [1] 521,078 490,510
Total liabilities 26,497,359 25,602,718
Commitments and Contingencies
Equity    
Common Stock, $0.01 par value, 2,000,000,000 shares authorized, 415,429,677 and 369,104,429 issued and outstanding at March 31, 2019 and December 31, 2018, respectively 4,155 3,692
Additional paid-in capital 5,497,838 4,746,242
Retained earnings 768,592 830,713
Accumulated other comprehensive income (loss) 551,696 417,023
Total New Residential stockholders’ equity 6,822,281 5,997,670
Noncontrolling interests in equity of consolidated subsidiaries 89,928 90,625
Total equity 6,912,209 6,088,295
Liabilities and Equity $ 33,409,568 $ 31,691,013
[1] New Residential’s Condensed Consolidated Balance Sheets include the assets and liabilities of certain consolidated VIEs, Advance Purchaser LLC (the “Buyer”) (Note 6), the RPL Borrowers (defined in Note 8), Shellpoint Asset Funding Trust 2013-1 (“SAFT 2013-1”) and the Shelter retail mortgage origination joint ventures (“Shelter JVs”) (Note 8) and the Consumer Loan SPVs (Note 9), which primarily hold investments in Servicer Advance Investments, residential mortgage loans and consumer loans, respectively, financed with notes and bonds payable. The balance sheets of the Buyer, the RPL Borrowers, SAFT 2013-1, Shelter JVs and the Consumer Loan SPVs are included in Notes 6, 8 and 9, respectively. The creditors of the Buyer, the RPL Borrowers, SAFT 2013-1, Shelter JVs and the Consumer Loan SPVs do not have recourse to the general credit of New Residential and the assets of the Buyer, the RPL Borrowers, SAFT 2013-1, Shelter JVs and the Consumer Loan SPVs are not directly available to satisfy New Residential’s obligations.