Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT IN RESIDENTIAL MORTGAGE LOANS - RESIDENTIAL MORTGAGE LOANS (Details)

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INVESTMENT IN RESIDENTIAL MORTGAGE LOANS - RESIDENTIAL MORTGAGE LOANS (Details) (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Weighted average yield 2.48% [1]
Weighted average coupon 2.48% [1]
Weighted average life (years) 3 years 6 months [1],[2]
Reverse Mortgage Loans
 
Outstanding face amount $ 56,738 [3]
Carrying value $ 33,060 [3]
Loan count 327
Weighted average yield 10.30%
Weighted average coupon 5.10% [4]
Weighted average life (years) 3 years 9 months 18 days [5]
Floating rate loans as a percent of face amount 22.00%
[1] (G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.
[2] (C) The weighted average life is based on the timing of expected principal reduction on the assets.
[3] (A) Represents a 70% interest New Residential holds in reverse mortgage loans.
[4] (B) Represents the stated interest rate on the loans. Accrued interest on reverse mortgage loans is generally added to the principal balance and paid when the loan is resolved.
[5] (C) The weighted average life is based on the expected timing of the receipt of cash flows.