EXHIBIT 21.1
NEWCASTLE INVESTMENT CORP. SUBSIDIARIES
| Subsidiary | Jurisdiction of Incorporation/Organization | |||
| 1 | Fortress Asset Trust | Delaware | ||
| 2 | IMPAC CMB Trust 1998-C1 | Delaware | ||
| 3 | IMPAC Commercial Assets Corporation | California | ||
| 4 | IMPAC Commercial Capital Corporation | California | ||
| 5 | IMPAC Commercial Holdings, Inc. | Maryland | ||
| 6 | LIV Holdings LLC | Delaware | ||
| 7 | NCT Holdings LLC | Delaware | ||
| 8 | Newcastle 2005-1 Asset Backed Note LLC | Delaware | ||
| 9 | Newcastle 2006-1 Asset Backed Note LLC | Delaware | ||
| 10 | Newcastle 2006-1 Depositor LLC | Delaware | ||
| 11 | Newcastle CDO V Corp. | Delaware | ||
| 12 | Newcastle CDO V Holdings LLC | Delaware | ||
| 13 | Newcastle CDO V, Ltd. | Cayman Islands | ||
| 14 | Newcastle CDO VI Corp. | Delaware | ||
| 15 | Newcastle CDO VI Holdings LLC | Delaware | ||
| 16 | Newcastle CDO VI, Ltd. | Cayman Islands | ||
| 17 | Newcastle CDO VII Holdings LLC | Delaware | ||
| 18 | Newcastle CDO VII Corp. | Delaware | ||
| 19 | Newcastle CDO VII Limited | Cayman Islands | ||
| 20 | Newcastle CDO VIII 1, Limited | Cayman Islands | ||
| 21 | Newcastle CDO VIII 2, Limited | Cayman Islands | ||
| 22 | Newcastle CDO VIII Holdings LLC | Delaware | ||
| 23 | Newcastle CDO VIII LLC | Delaware | ||
| 24 | Newcastle CDO IX 1, Limited | Cayman Islands | ||
| 25 | Newcastle CDO IX Holdings LLC | Delaware | ||
| 26 | Newcastle CDO IX LLC | Delaware | ||
| 27 | Newcastle MH I LLC | Delaware | ||
| 28 | Newcastle Mortgage Securities LLC | Delaware | ||
| 29 | Newcastle Mortgage Securities Trust 2004-1 | Delaware | ||
| 30 | Newcastle Mortgage Securities Trust 2006-1 | Delaware | ||
| 31 | Newcastle Mortgage Securities Trust 2007-1 | Delaware | ||
| 32 | Newcastle Trust 1 | Delaware | ||
| 33 | NIC Airport Corporate Center LLC | Delaware | ||
| 34 | NIC Apple Valley I LLC | Delaware | ||
| 35 | NIC Apple Valley II LLC | Delaware | ||
| 36 | NIC Apple Valley III LLC | Delaware | ||
| 37 | NIC CRA LLC | Delaware | ||
| 38 | NIC Dayton Towne Center LLC | Delaware | ||
| 39 | NIC DB LLC | Delaware | ||
| 40 | NIC DP LLC | Delaware | ||
| 41 | NIC OTC LLC | Delaware | ||
| Subsidiary | Jurisdiction of Incorporation/Organization | |||
| 42 | NIC TP LLC | Delaware | ||
| 43 | NIC WL II LLC | Delaware | ||
| 44 | NIC WL LLC | Delaware | ||
| 45 | NIC SF LLC | Delaware | ||
| 46 | NIC Management LLC | Delaware | ||
| 47 | NIC SN LLC | Delaware | ||
| 48 | Xanadu Asset Holdings LLC | Delaware | ||
| 49 | SP I Term Facility LLC | Delaware | ||
| 50 | Dayton Asset Holding LLC | Delaware | ||
| 51 | NCT Holdings II LLC | Delaware | ||
| 52 | Newcastle Investment Trust 2010-MH1 | Delaware | ||
| 53 | Newcastle Investment Trust 2011-MH1 | Delaware | ||
| 54 | SSL Term Loan LLC | Delaware | ||
| 55 | NIC GH I LLC | Delaware | ||
| 56 | NIC GH II LLC | Delaware | ||
| 57 | NIC GH III LLC | Delaware | ||
| 58 | NIC GH IV LLC | Delaware | ||
| 59 | NIC GH V LLC | Delaware | ||
| 60 | NIC GH VI LLC | Delaware | ||
| 61 | NIC GH VII LLC | Delaware | ||
| 62 | NIC GH VIII LLC | Delaware | ||
| 63 | NIC GH IX LLC | Delaware | ||
| 64 | NIC GH X LLC | Delaware | ||
| 65 | NIC GH XI LLC | Delaware | ||
| 66 | NIC GH Equity LLC | Delaware | ||
| 67 | NIC GH XII LLC | Delaware | ||
| 68 | NIC GH XIII LLC | Delaware | ||
| 69 | NIC GH XIV LLC | Delaware | ||
| 70 | NIC GH XV LLC | Delaware | ||
| 71 | NIC GH XVI LLC | Delaware | ||
| 72 | NIC GH XVII LLC | Delaware | ||
| 73 | NIC GH XVIII LLC | Delaware | ||
| 74 | NIC GH XIX LLC | Delaware | ||
| 75 | NIC GH XXI LLC | Delaware | ||
| 76 | NIC GH XXII LLC | Delaware | ||
| 77 | NIC GH XXIII LLC | Delaware | ||
| 78 | NIC GH XXIV LLC | Delaware | ||
| 79 | CDO VIII Repack Limited | Cayman Islands | ||
| 80 | NIC GH XX LLC | Delaware | ||
| 81 | NCT 2013 – VI Funding Ltd. | Cayman Islands | ||
| 82 | American Golf Leasing LLC | Delaware | ||
| 83 | NCT 2013-VI Funding Investors LLC | Delaware | ||
| 84 | Castle Sports & Entertainment Group, Inc. | Delaware | ||
| 85 | American Golf Group Holdings LLC | Delaware | ||
| 86 | Castle Sports & Entertainment Partners LLC | Delaware | ||
| Subsidiary | Jurisdiction of Incorporation/Organization | |||
| 87 | Tower A LLC | Delaware | ||
| 88 | Tower A1 Holdings LLC | Delaware | ||
| 89 | Tower A2 Holdings LLC | Delaware | ||
| 90 | Tower B Holdings LLC | Delaware | ||
| 91 | Tower C Holdings LLC | Delaware | ||
| 92 | Tower B LLC | Delaware | ||
| 93 | Tower C LLC | Delaware | ||
| 94 | Vineyards Holdings LLC | Delaware | ||
| 95 | American Golf Partners LLC | Delaware | ||
| 96 | NGP Mezzanine, LLC | Delaware | ||
| 97 | NGP Realty Sub GP, LLC | Delaware | ||
| 98 | NGP Realty Sub, L.P. | Delaware | ||
| 99 | AGC Mezzanine Pledge LLC | Delaware | ||
| 100 | New AGC LLC | Delaware | ||
| 101 | American Golf Corporation | Delaware | ||
| 102 | American Golf of Atlanta | Georgia | ||
| 103 | CW Golf Partners LP | California | ||
| 104 | Golf Enterprises Inc. | Kansas | ||
| 105 | Persimmon Golf Club LLC | Delaware | ||
| 106 | Newcastle MH Depositor LLC | Delaware | ||
| 107 | Newcastle 2014-MH1 Property Owner LLC | Delaware | ||
| 108 | Drive Shack Holdings LLC | Delaware | ||
| 109 | NIC Taberna LLC | Delaware | ||
| 110 | NIC Trust Holdings Inc. | Delaware | ||