Exhibit 21.1
NEWCASTLE INVESTMENT CORP. SUBSIDIARIES
| | | | | | |
| | | | STATE/COUNTRY OF INCORPORATION/FORMATION | ||
| 1. | | | 2520 Ridgewood GP, LLC | | | Texas |
| 2. | | | Commercial Asset Holdings LLC | | | Delaware |
| 3. | | | DBNC Peach Holding LLC | | | Delaware |
| 4. | | | DBNC Peach I Trust | | | Delaware |
| 5. | | | DBNC Peach LLC | | | Delaware |
| 6. | | | DBNCF Circle LLC | | | Delaware |
| 7. | | | DBNCH Circle LLC | | | Delaware |
| 8. | | | Fortress Asset Trust | | | Delaware |
| 9. | | | Fortress CBO Holdings I Inc. | | | Delaware |
| 10. | | | Fortress CBO Investments I Corp. | | | Delaware |
| 11. | | | Fortress CBO Investments I, Ltd. | | | Cayman Islands |
| 12. | | | Fortress Realty Holdings, Inc. | | | Ontario |
| 13. | | | Impac 1998-C1Carthage Texas, LLC | | | Texas |
| 14. | | | Impac CMB Trust 1998-C1 | | | Delaware |
| 15. | | | Impac Commercial Assets Corporation | | | California |
| 16. | | | Impac Commercial Capital Corporation | | | California |
| 17. | | | Impac Commercial Holdings, Inc. | | | Maryland |
| 18. | | | Karl S.A. | | | Belgium |
| 19. | | | LIV Holdings LLC | | | Delaware |
| 20. | | | NC Circle Holdings II LLC | | | Delaware |
| 21. | | | NC Circle Holdings LLC | | | Delaware |
| 22. | | | NCT Holdings II LLC | | | Delaware |
| 23. | | | NCT Holdings LLC | | | Delaware |
| 24. | | | Newcastle 2005-1 Asset-Backed Note LLC | | | Delaware |
| 25. | | | Newcastle 2006-1 Asset-Backed Note LLC | | | Delaware |
| 26. | | | Newcastle 2006-1 Depositor LLC | | | Delaware |
| 27. | | | Newcastle CDO Holdings LLC | | | Delaware |
| 28. | | | Newcastle CDO I Corp. | | | Delaware |
| 29. | | | Newcastle CDO I, Ltd. | | | Cayman Islands |
| 30. | | | Newcastle CDO II Corp. | | | Delaware |
| 31. | | | Newcastle CDO II Holdings LLC | | | Delaware |
| 32. | | | Newcastle CDO II, Ltd. | | | Cayman Islands |
| 33. | | | Newcastle CDO III Corp. | | | Delaware |
| 34. | | | Newcastle CDO III Holdings LLC | | | Delaware |
| 35. | | | Newcastle CDO III, Ltd. | | | Cayman Islands |
| 36. | | | Newcastle CDO IV Corp. | | | Delaware |
| 37. | | | Newcastle CDO IV Holdings LLC | | | Delaware |
| 38. | | | Newcastle CDO IV, Ltd. | | | Cayman Islands |
| 39. | | | Newcastle CDO IX 1 Limited | | | Cayman Islands |
| 40. | | | Newcastle CDO IX Holdings LLC | | | Delaware |
| 41. | | | Newcastle CDO IX LLC | | | Delaware |
| 42. | | | Newcastle CDO V Corp. | | | Delaware |
| 43. | | | Newcastle CDO V Holdings LLC | | | Delaware |
| 44. | | | Newcastle CDO V, Ltd. | | | Cayman Islands |
| 45. | | | Newcastle CDO VI , Ltd. | | | Cayman Islands |
| 46. | | | Newcastle CDO VI Corp. | | | Delaware |
| 47. | | | Newcastle CDO VI Holding, LLC | | | Delaware |
| | | | | | |
| | | | STATE/COUNTRY OF INCORPORATION/FORMATION | ||
| 48. | | | Newcastle CDO VII Corp. | | | Delaware |
| 49. | | | Newcastle CDO VII Holdings LLC | | | Delaware |
| 50. | | | Newcastle CDO VII, Limited | | | Cayman Islands |
| 51. | | | Newcastle CDO VIII 1, Limited | | | Cayman Islands |
| 52. | | | Newcastle CDO VIII 2, Limited | | | Cayman Islands |
| 53. | | | Newcastle CDO VIII Holdings LLC | | | Delaware |
| 54. | | | Newcastle CDO VIII LLC | | | Delaware |
| 55. | | | Newcastle CDO X Holdings LLC | | | Delaware |
| 56. | | | Newcastle CDO X Limited | | | Cayman Islands |
| 57. | | | Newcastle CDO X LLC | | | Delaware |
| 58. | | | Newcastle Foreign TRS Ltd. | | | Cayman Islands |
| 59. | | | Newcastle MH I LLC | | | Delaware |
| 60. | | | Newcastle Mortgage Securities LLC | | | Delaware |
| 61. | | | Newcastle Mortgage Securities Trust 2004-1 | | | Delaware |
| 62. | | | Newcastle Mortgage Securities Trust 2006-1 | | | Delaware |
| 63. | | | Newcastle Mortgage Securities Trust 2007-1 | | | Delaware |
| 64. | | | Newcastle Trust I | | | Delaware |
| 65. | | | NIC 2 River Place LLC | | | Delaware |
| 66. | | | NIC 4 River Place LLC | | | Delaware |
| 67. | | | NIC Airport Corporate Center LLC | | | Delaware |
| 68. | | | NIC Apple Valley I LLC | | | Delaware |
| 69. | | | NIC Apple Valley II LLC | | | Delaware |
| 70. | | | NIC Apple Valley III LLC | | | Delaware |
| 71. | | | NIC BR LLC | | | Delaware |
| 72. | | | NIC CNL LLC | | | Delaware |
| 73. | | | NIC CR LLC | | | Delaware |
| 74. | | | NIC CRA LLC | | | Delaware |
| 75. | | | NIC CSR LLC | | | Delaware |
| 76. | | | NIC Dayton Towne Center LLC | | | Delaware |
| 77. | | | NIC DB LLC | | | Delaware |
| 78. | | | NIC DBRepo LLC | | | Delaware |
| 79. | | | NIC DP LLC | | | Delaware |
| 80. | | | NIC GCMRepo LLC | | | Delaware |
| 81. | | | NIC GR LLC | | | Delaware |
| 82. | | | NIC GS LLC | | | Delaware |
| 83. | | | NIC GSE LLC | | | Delaware |
| 84. | | | NIC Holdings I LLC | | | Delaware |
| 85. | | | NIC KZ LLC | | | Delaware |
| 86. | | | NIC Mezz LLC | | | Delaware |
| 87. | | | NIC NK LLC | | | Delaware |
| 88. | | | NIC OTC LLC | | | Delaware |
| 89. | | | NIC TRS Holdings, Inc. | | | Delaware |
| 90. | | | NIC TRS LLC | | | Delaware |
| 91. | | | NIC WL II LLC | | | Delaware |
| 92. | | | NIC WL LLC | | | Delaware |
| 93. | | | Steinhage B.V. | | | Netherlands |
| 94. | | | Windsor Funding Trust | | | Delaware |
| 95. | | | Windsor Trust | | | Delaware |