Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Details)

v3.20.1
SEGMENT REPORTING (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Dec. 31, 2018
Segment Reporting Information [Line Items]        
Interest income $ 402,373 $ 438,867    
Interest expense 216,855 212,832    
Net interest income 185,518 226,035    
Impairment 144,645 12,796    
Servicing revenue, net (289,115) 165,853    
Gain on sale of originated mortgage loans, net 179,698 67,170    
Other income (loss) (1,402,661) (63,966)    
Operating expenses 302,918 180,387    
Income (loss) before income taxes (1,774,123) 201,909    
Income tax expense (benefit) (166,868) 45,997    
Net income (loss) (1,607,255) 155,912    
Noncontrolling interests in income (loss) of consolidated subsidiaries (16,162) 10,318    
Dividends on Preferred Stock 11,222 0    
Net income (loss) attributable to common stockholders (1,602,315) 145,594    
Investments 15,476,708      
Cash and cash equivalents 360,453      
Restricted cash 147,435   $ 162,197  
Other assets 8,179,411      
Goodwill 29,468   29,737  
Total assets 24,193,475   44,863,454  
Debt 17,828,709   35,636,373  
Other liabilities 1,034,302      
Total liabilities 18,863,011   37,627,194  
Total equity 5,330,464 6,912,209 7,236,260 $ 6,088,295
Noncontrolling interests in equity of consolidated subsidiaries 66,578   78,550  
Total New Residential stockholders’ equity 5,263,886   $ 7,157,710  
Investments in equity method investees 156,731      
Operating | Servicing and Origination        
Segment Reporting Information [Line Items]        
Interest income 123,575 131,800    
Interest expense 71,406 66,486    
Net interest income 52,169 65,314    
Impairment 0 0    
Servicing revenue, net (289,115) 165,853    
Gain on sale of originated mortgage loans, net 171,187 51,326    
Other income (loss) (156,450) (20,806)    
Operating expenses 248,444 126,842    
Income (loss) before income taxes (470,653) 134,845    
Income tax expense (benefit) (91,782) 39,374    
Net income (loss) (378,871) 95,471    
Noncontrolling interests in income (loss) of consolidated subsidiaries (9,964) 2,858    
Dividends on Preferred Stock 0 0    
Net income (loss) attributable to common stockholders (368,907) 92,613    
Investments 8,029,136      
Cash and cash equivalents 252,562      
Restricted cash 115,399      
Other assets 3,701,642      
Goodwill 29,468      
Total assets 12,128,207      
Debt 7,706,175      
Other liabilities 702,522      
Total liabilities 8,408,697      
Total equity 3,719,510      
Noncontrolling interests in equity of consolidated subsidiaries 43,066      
Total New Residential stockholders’ equity 3,676,444      
Investments in equity method investees 156,731      
Operating | Consumer Loans        
Segment Reporting Information [Line Items]        
Interest income 34,872 44,405    
Interest expense 6,667 9,195    
Net interest income 28,205 35,210    
Impairment 0 11,084    
Servicing revenue, net 0 0    
Gain on sale of originated mortgage loans, net 0 0    
Other income (loss) (40,751) 4,531    
Operating expenses 3,883 7,427    
Income (loss) before income taxes (16,429) 21,230    
Income tax expense (benefit) 115 79    
Net income (loss) (16,544) 21,151    
Noncontrolling interests in income (loss) of consolidated subsidiaries (6,198) 7,460    
Dividends on Preferred Stock 0 0    
Net income (loss) attributable to common stockholders (10,346) 13,691    
Investments 780,821      
Cash and cash equivalents 4,382      
Restricted cash 32,036      
Other assets 65,602      
Goodwill 0      
Total assets 882,841      
Debt 774,797      
Other liabilities 7,389      
Total liabilities 782,186      
Total equity 100,655      
Noncontrolling interests in equity of consolidated subsidiaries 23,512      
Total New Residential stockholders’ equity 77,143      
Investments in equity method investees 0      
Eliminations        
Segment Reporting Information [Line Items]        
Interest income 0 0    
Interest expense 0 0    
Net interest income 0 0    
Impairment 0 0    
Servicing revenue, net (24,192) (6,135)    
Gain on sale of originated mortgage loans, net (9,375) (9,085)    
Other income (loss) 0 0    
Operating expenses (24,192) (6,135)    
Income (loss) before income taxes (9,375) (9,085)    
Income tax expense (benefit) 0 0    
Net income (loss) (9,375) (9,085)    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0    
Dividends on Preferred Stock 0 0    
Net income (loss) attributable to common stockholders (9,375) (9,085)    
Investments 0      
Cash and cash equivalents 0      
Restricted cash 0      
Other assets 0      
Goodwill 0      
Total assets 0      
Debt 0      
Other liabilities 0      
Total liabilities 0      
Total equity 0      
Noncontrolling interests in equity of consolidated subsidiaries 0      
Total New Residential stockholders’ equity 0      
Investments in equity method investees 0      
Corporate        
Segment Reporting Information [Line Items]        
Interest income 0 0    
Interest expense 0 0    
Net interest income 0 0    
Impairment 0 0    
Servicing revenue, net 0 0    
Gain on sale of originated mortgage loans, net 0 0    
Other income (loss) (47,150) 2,712    
Operating expenses 26,981 35,609    
Income (loss) before income taxes (74,131) (32,897)    
Income tax expense (benefit) 0 0    
Net income (loss) (74,131) (32,897)    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0    
Dividends on Preferred Stock 11,222 0    
Net income (loss) attributable to common stockholders (85,353) (32,897)    
Investments 0      
Cash and cash equivalents 1,303      
Restricted cash 0      
Other assets 37,840      
Goodwill 0      
Total assets 39,143      
Debt 0      
Other liabilities 51,883      
Total liabilities 51,883      
Total equity (12,740)      
Noncontrolling interests in equity of consolidated subsidiaries 0      
Total New Residential stockholders’ equity (12,740)      
Investments in equity method investees 0      
Origination | Operating | Servicing and Origination        
Segment Reporting Information [Line Items]        
Interest income 16,735 5,584    
Interest expense 13,427 5,158    
Net interest income 3,308 426    
Impairment 0 0    
Servicing revenue, net (1,078) (270)    
Gain on sale of originated mortgage loans, net 158,215 50,812    
Other income (loss) (16) 1,059    
Operating expenses 100,212 46,363    
Income (loss) before income taxes 60,217 5,664    
Income tax expense (benefit) 11,958 1,549    
Net income (loss) 48,259 4,115    
Noncontrolling interests in income (loss) of consolidated subsidiaries 1,283 407    
Dividends on Preferred Stock 0 0    
Net income (loss) attributable to common stockholders 46,976 3,708    
Investments 1,491,206      
Cash and cash equivalents 76,752      
Restricted cash 4,907      
Other assets 403,277      
Goodwill 11,836      
Total assets 1,987,978      
Debt 1,352,846      
Other liabilities 244,137      
Total liabilities 1,596,983      
Total equity 390,995      
Noncontrolling interests in equity of consolidated subsidiaries 11,323      
Total New Residential stockholders’ equity 379,672      
Investments in equity method investees 0      
Servicing | Operating | Servicing and Origination        
Segment Reporting Information [Line Items]        
Interest income 7,487 6,183    
Interest expense 196 197    
Net interest income 7,291 5,986    
Impairment 0 0    
Servicing revenue, net 86,742 43,521    
Gain on sale of originated mortgage loans, net 259 89    
Other income (loss) 499 0    
Operating expenses 64,352 36,123    
Income (loss) before income taxes 30,439 13,473    
Income tax expense (benefit) 6,045 3,686    
Net income (loss) 24,394 9,787    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0    
Dividends on Preferred Stock 0 0    
Net income (loss) attributable to common stockholders 24,394 9,787    
Investments 0      
Cash and cash equivalents 14,032      
Restricted cash 4,881      
Other assets 274,883      
Goodwill 12,540      
Total assets 306,336      
Debt 21,157      
Other liabilities 73,889      
Total liabilities 95,046      
Total equity 211,290      
Noncontrolling interests in equity of consolidated subsidiaries 0      
Total New Residential stockholders’ equity 211,290      
Investments in equity method investees 0      
MSR Related Investments | Operating | Servicing and Origination        
Segment Reporting Information [Line Items]        
Interest income 99,353 120,033    
Interest expense 57,783 61,131    
Net interest income 41,570 58,902    
Impairment 0 0    
Servicing revenue, net (350,587) 128,737    
Gain on sale of originated mortgage loans, net 22,088 9,510    
Other income (loss) (156,933) (21,865)    
Operating expenses 108,072 50,491    
Income (loss) before income taxes (551,934) 124,793    
Income tax expense (benefit) (109,785) 34,139    
Net income (loss) (442,149) 90,654    
Noncontrolling interests in income (loss) of consolidated subsidiaries (11,247) 2,451    
Dividends on Preferred Stock 0 0    
Net income (loss) attributable to common stockholders (430,902) 88,203    
Investments 6,537,930      
Cash and cash equivalents 161,778      
Restricted cash 105,611      
Other assets 3,023,482      
Goodwill 5,092      
Total assets 9,833,893      
Debt 6,332,172      
Other liabilities 384,496      
Total liabilities 6,716,668      
Total equity 3,117,225      
Noncontrolling interests in equity of consolidated subsidiaries 31,743      
Total New Residential stockholders’ equity 3,085,482      
Investments in equity method investees 156,731      
Real Estate Securities | Operating | Residential Securities and Loans        
Segment Reporting Information [Line Items]        
Interest income 184,005 204,473    
Interest expense 108,009 101,300    
Net interest income 75,996 103,173    
Impairment 44,149 7,516    
Servicing revenue, net 0 0    
Gain on sale of originated mortgage loans, net 0 0    
Other income (loss) (966,039) (46,958)    
Operating expenses 6,854 1,189    
Income (loss) before income taxes (941,046) 47,510    
Income tax expense (benefit) 0 0    
Net income (loss) (941,046) 47,510    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0    
Dividends on Preferred Stock 0 0    
Net income (loss) attributable to common stockholders (941,046) 47,510    
Investments 2,479,603      
Cash and cash equivalents 101,646      
Restricted cash 0      
Other assets 4,064,232      
Goodwill 0      
Total assets 6,645,481      
Debt 5,892,709      
Other liabilities 218,654      
Total liabilities 6,111,363      
Total equity 534,118      
Noncontrolling interests in equity of consolidated subsidiaries 0      
Total New Residential stockholders’ equity 534,118      
Investments in equity method investees 0      
Residential Mortgage Loans | Operating | Residential Securities and Loans        
Segment Reporting Information [Line Items]        
Interest income 59,921 58,189    
Interest expense 30,773 35,851    
Net interest income 29,148 22,338    
Impairment 100,496 (5,804)    
Servicing revenue, net 0 0    
Gain on sale of originated mortgage loans, net 8,511 15,844    
Other income (loss) (192,271) (3,445)    
Operating expenses 16,756 9,320    
Income (loss) before income taxes (271,864) 31,221    
Income tax expense (benefit) (75,201) 6,544    
Net income (loss) (196,663) 24,677    
Noncontrolling interests in income (loss) of consolidated subsidiaries 0 0    
Dividends on Preferred Stock 0 0    
Net income (loss) attributable to common stockholders (196,663) $ 24,677    
Investments 4,187,148      
Cash and cash equivalents 560      
Restricted cash 0      
Other assets 310,095      
Goodwill 0      
Total assets 4,497,803      
Debt 3,455,028      
Other liabilities 53,854      
Total liabilities 3,508,882      
Total equity 988,921      
Noncontrolling interests in equity of consolidated subsidiaries 0      
Total New Residential stockholders’ equity 988,921      
Investments in equity method investees $ 0