Quarterly report pursuant to Section 13 or 15(d)

INVESTMENTS IN REAL ESTATE SECURITIES (Details Narrative)

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INVESTMENTS IN REAL ESTATE SECURITIES (Details Narrative) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended 1 Months Ended 6 Months Ended 0 Months Ended 1 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Aug. 07, 2013
Non-Agency RMBS
Jun. 30, 2013
Non-Agency RMBS
Jun. 27, 2013
Agency RMBS
Aug. 07, 2013
Agency RMBS
Jun. 30, 2013
Agency RMBS
Jun. 30, 2013
Fixed Rate Securities
Jun. 30, 2013
Floating Rate Securities
Face amount of securities purchased         $ 15,800 $ 547,500 $ 22,700 $ 8,000 $ 156,300    
Purchase of real estate securities     (265,100)    14,400 362,400 1,200 8,300 165,200    
Agency RMBS contributed from Newcastle, face amount     1,000,000                
RMBS principal receivable 13,800   13,800                
Outstanding face amount 1,987,853 [1]   1,987,853 [1]     927,903     1,059,950 [2],[3] 18,400 1,970,000
Other-than-temporary impairment ("OTTI") on securities 3,756    3,756                 
Real estate securities acquired during the period with credit quality deterioration, face amount 472,700   472,700                
Real estate securities acquired during the period with credit quality deterioration, fair value 298,900   298,900                
Real estate securities acquired during the period with credit quality deterioration, expected cash flows $ 375,200   $ 375,200                
[1] (G) The total outstanding face amount was $ 18.4 million for fixed rate securities and $ 1.97 billion for floating rate securities.
[2] (E) Includes securities issued or guaranteed by U.S. Government agencies such as the Federal National Mortgage Association ("Fannie Mae") or the Federal Home Loan Mortgage Corporation ("Freddie Mac").
[3] (F) Amortized cost basis and carrying value include principal receivable of $13.8 million.