Rithm Capital (RITM) 10-Q12 Nov 132013 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	9 Months Ended
Document and Entity Information (USD $)	Sep. 30, 2013	Nov. 08, 2013
Document And Entity Information	'	'
Entity Registrant Name	'New Residential Investment Corp.	'
Entity Central Index Key	'0001556593	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Is Entity a Well-known Seasoned Issuer?	'No	'
Is Entity a Voluntary Filer?	'No	'
Is Entity's Reporting Status Current?	'Yes	'
Entity Filer Category	'Non-accelerated Filer	'
Entity Common Stock, Par Value	$0.01	'
Entity Common Stock, Shares Outstanding	'	253,186,279
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2013	'

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (USD $)	Sep. 30, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012
Assets	'		'
Real estate securities, available-for-sale	$1,861,200	[1],[2]	$289,756
Investments in excess mortgage servicing rights at fair value	307,568		245,036
Investments in excess mortgage servicing rights, equity method investees, at fair value	358,032		'
Investment in consumer loans, equity method investees	192,498		'
Residential mortgage loans, held-for-investment	33,060		'
Cash and cash equivalents	172,203		'
Other assets	7,283		84
[Assets]	2,931,844		534,876
Liabilities	'		'
Repurchase agreements	1,467,934		150,922
Trades Payable	149,181		'
Due to affiliates	7,109		5,136
Dividends Payable	44,308		'
Accrued expenses and other liabilities	2,276		462
[Liabilities]	1,670,808		156,520
Commitments and contingencies	'		'
Stockholders' Equity	'		'
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 253,186,279 issued and outstanding at September 30, 2013	2,532		'
Additional paid-in capital	1,157,040		362,830
Retained earnings	85,776		'
Accumulated other comprehensive income	15,688		15,526
Total Stockholders' Equity	1,261,036		378,356
[LiabilitiesAndStockholdersEquity]	$2,931,844		$534,876

[1]	(A) Fair value, which is equal to carrying value for all securities. See Note 9 regarding the estimation of fair value.
[2]	(G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013
Statement of Financial Position [Abstract]	'
Common stock, par value	$0.01
Common stock, shares authorized	2,000,000,000
Common stock, shares issued	253,186,279
Common stock, shares outstanding	253,186,279

Consolidated_Statements_of_Inc

Consolidated Statements of Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Statement [Abstract]	'	'	'	'
Interest income	$21,885	$12,295	$61,075	$18,811
Interest expense	3,443	298	6,993	298
Net Interest Income	18,442	11,997	54,082	18,513
Impairment (Reversal)	'	'	'	'
Other-than-temporary impairment ("OTTI") on securities	'	'	3,756	'
Net interest income after impairment	18,442	11,997	50,326	18,513
Change in fair value of investments in excess mortgage servicing rights	208	1,774	43,899	6,513
Change in fair value of investments in excess mortgage servicing rights, equity method investees	20,645	'	41,741	'
Earnings from investments in consumer loans, equity method investee	24,129	'	60,293	'
Gain on settlement of securities	11,213	'	11,271	'
Other Income	56,195	1,774	157,204	6,513
Expenses	'	'	'	'
General and administrative expenses	2,538	686	5,859	2,363
Management fee allocated by Newcastle	'	1,317	4,134	1,733
Management fee to affiliate	4,484	'	6,747	'
Incentive compensation to affiliate	4,470	'	5,348	'
[OperatingExpenses]	11,492	2,003	22,088	4,096
Net Income	$63,145	$11,768	$185,442	$20,930
Income Per Share of Common Stock	'	'	'	'
Basic	$0.25	$0.05	$0.73	$0.08
Diluted	$0.24	$0.05	$0.72	$0.08
Weighted Average Number of Shares of Common Stock Outstanding	'	'	'	'
Basic	253,072,788	253,025,645	253,041,532	253,025,645
Diluted	259,889,285	253,025,645	256,549,947	253,025,645
Dividends Declared per Share of Common Stock	$0.18	'	$0.25	'

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net income	$63,145	$11,768	$185,442	$20,930
Other comprehensive income:	'	'	'	'
Net unrealized gain (loss) on securities	7,687	7,313	7,677	7,313
Reclassification of net realized (gain) loss on securities into earnings	-11,213	'	-7,515	'
Other comprehensive income	-3,526	7,313	162	7,313
Comprehensive income	$59,619	$19,081	$185,604	$28,243

Consolidated_Statement_of_Chan

Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (USD $)	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Total
In Thousands, except Share data	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Total
Equity, beginning at Dec. 31, 2012	'	$362,830	'	$15,526	$378,356
Common stock, shares - beginning at Dec. 31, 2012	'	'	'	'	'
Dividends declared	'	'	-62,020	'	-62,020
Capital contributions	'	893,466	'	'	893,466
Contributions in-kind	'	1,093,684	'	'	1,093,684
Capital distributions	'	-1,228,054	'	'	-1,228,054
Issuance of common stock	2,530	-2,530	'	'	'
Issuance of common stock, shares	253,025,645	'	'	'	'
Option exercise	2	-2	'	'	'
Option exercise, shares	160,634	'	'	'	'
Net income	'	37,646	147,796	'	185,442
Other comprehensive income	'	'	'	162	162
Equity, ending at Sep. 30, 2013	$2,532	$1,157,040	$85,776	$15,688	$1,261,036
Common stock, shares - ending at Sep. 30, 2013	253,186,279	'	'	'	253,186,279

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash Flows From Operating Activities	'	'
Net income	$185,442	$20,930
Adjustments to reconcile net income to net cash provided by (used in) operating activities (inclusive of amounts related to discontinued operations):	'	'
Change in fair value of investments in excess mortgage servicing rights	-43,899	-6,513
Change in fair value of investments in excess mortgage servicing rights, equity method investees	-41,741	'
Distributions of earnings from excess mortgage servicing rights, equity method investees	23,659	'
Earnings from consumer loan equity method investees	-60,293	'
Distributions of earnings from consumer loan equity method investees	60,293	'
Accretion of discount and other amortization	-8,008	-2,030
(Gain)/Loss on settlement of investments (net)	-11,271	'
Other-than-temporary impairment ("OTTI")	3,756	'
Change in:	'	'
Other assets	-7,145	-58
Due to affiliates	1,973	1,647
Accrued expenses and other liabilities	1,752	1,406
Reduction of liability deemed as capital contribution by Newcastle	11,515	'
Other operating cash flows:	'	'
Cash proceeds from investments, in excess of interest income	41,435	19,021
Net cash proceeds deemed as capital distributions to Newcastle	-52,888	-34,403
Net cash provided by (used in) operating activities	104,580	'
Cash Flows From Investing Activities	'	'
Purchase of Agency ARM RMBS	-292,980	'
Purchase of Non-Agency RMBS	-202,484	'
Acquisition of investments in excess mortgage servicing rights	-46,421	'
Acquisition of investments in excess mortgage servicing rights. equity method investees	-226,837	'
Principal repayments from Agency ARM RMBS	219,187	'
Principal repayments from Non-Agency RMBS	50,878	'
Proceeds from sale of investments	123,130	'
Return of investments in excess mortgage servicing rights	15,132	'
Return of investments in excess mortgage servicing rights, equity method investees	4,018	'
Return of investments in consumer loan equity method investees	52,923	'
Principal repayments from residential mortgage loans	2,400	'
Net cash provided by (used in) investing activities	-301,054	'
Cash Flows From Financing Activities	'	'
Repayments of repurchase agreements	-1,283,567	'
Margin deposits under repurchase agreements	-210,507	'
Payment of deferred financing fees	-166	'
Common stock dividends paid	-17,712	'
Borrowings under repurchase agreements	1,425,413	'
Return of margin deposits under repurchase agreements	210,158	'
Capital contributions	245,058	'
Net cash provided by (used in) financing activities	368,677	'
Net Increase (Decrease) in Cash and Cash Equivalents	172,203	'
Cash and Cash Equivalents, Beginning of Period	'	'
Cash and Cash Equivalents, End of Period	172,203	'
Supplemental Disclosure of Cash Flow Information	'	'
Cash paid during the period for interest expense	6,853	280
Prior to Date of Cash Contribution by Newcastle	'	'
Cash proceeds from investments, in excess of interest income	41,435	19,021
Acquisition of real estate securities	242,750	34,619
Acquisition of investments in excess mortgage servicing rights	'	218,642
Deposit paid on investment in excess mortgage servicing rights	'	25,200
Purchase price payable on investments in excess mortgage servicing rights	'	3,250
Acquisition of investments in excess mortgage servicing rights, equity method investees at fair value	125,099	'
Acquisition of investments in consumer loan equity method investees	245,421	'
Acquisition of residential mortgage loans, held-for-investment	35,138	'
Borrowings under repurchase agreements	1,179,068	60,772
Repayments of repurchase agreements	3,902	1,126
Capital contributions by Newcastle	648,408	278,461
Contributions in-kind by Newcastle	1,093,684	164,142
Capital distributions to Newcastle	1,228,054	94,049
Subsequent to Date of Cash Contribution by Newcastle	'	'
Dividends declared but not paid	$44,308	'

GENERAL

GENERAL	9 Months Ended
GENERAL	Sep. 30, 2013
General	'
GENERAL	'
	1. GENERAL

	New Residential Investment Corp. (formerly known as NIC MSR LLC) (together with its subsidiaries, “New Residential”) is a Delaware corporation that was formed as a limited liability company in September 2011 for the purpose of making real estate related investments and commenced operations on December 8, 2011. On December 20, 2012, New Residential was converted to a corporation. Newcastle Investment Corp. (“Newcastle”) was the sole stockholder of New Residential until the spin-off (Note 10), which was completed on May 15, 2013. Newcastle is listed on the New York Stock Exchange under the symbol “NCT.”

	Following the spin-off, New Residential is an independent publicly traded real estate investment trust (“REIT”) primarily focused on investing in residential mortgage related assets. New Residential is listed on the New York Stock Exchange under the symbol “NRZ.”

	As of September 30, 2013, New Residential had acquired, or committed to acquire, directly and through equity method investees, excess mortgage servicing rights (“Excess MSRs”) on twelve pools of residential mortgage loans from Nationstar Mortgage LLC (“Nationstar”), a leading residential mortgage servicer. Furthermore, New Residential had acquired real estate securities, residential mortgage loans, and consumer loans.

	New Residential intends to elect and qualify to be taxed as a REIT for U.S. federal income tax purposes for the tax year ending December 31, 2013. As such, New Residential will generally not be subject to U.S. federal corporate income tax on that portion of its net income that is distributed to stockholders if it distributes at least 90% of its REIT taxable income to its stockholders by prescribed dates and complies with various other requirements.

	New Residential has entered into a management agreement (the “Management Agreement”) with FIG LLC (the “Manager”), an affiliate of Fortress Investment Group LLC (“Fortress”), under which the Manager advises New Residential on various aspects of its business and manages its day-to-day operations, subject to the supervision of New Residential’s board of directors. For its services, the Manager is entitled to management fees and incentive compensation, both defined in, and in accordance with the terms of, the Management Agreement. For a further discussion of the Management Agreement, see Note 12. The Manager also manages Newcastle and investment funds that own a majority of Nationstar.

	As of September 30, 2013, New Residential operated in the following business segments: (i) investments in Excess MSRs, (ii) investments in real estate securities and loans, (iii) investments in consumer loans and (iv) corporate.

	The consolidated financial statements for periods prior to May 15, 2013 have been prepared on a spin-off basis from the consolidated financial statements and accounting records of Newcastle and reflect New Residential’s historical results of operations, financial position and cash flows, in accordance with U.S. GAAP. As presented in the Consolidated Statements of Cash Flows, New Residential did not have any cash balance during periods prior to April 5, 2013, which is the first date Newcastle contributed cash to New Residential. All of its cash activity occurred in Newcastle’s accounts during these periods. The consolidated financial statements for periods prior to May 15, 2013 do not necessarily reflect what New Residential’s consolidated results of operations, financial position and cash flows would have been had New Residential operated as an independent company prior to the spin-off.

	Certain expenses of Newcastle, comprised primarily of a portion of its management fee, have been allocated to New Residential to the extent they were directly associated with New Residential for periods prior to the spin-off on May 15, 2013. The portion of the management fee allocated to New Residential prior to the spin-off represents the product of the management fee rate payable by Newcastle (1.5%) and New Residential’s gross equity, which management believes is a reasonable method for quantifying the expense of the services provided by the employees of the Manager to New Residential. The incremental cost of certain legal, accounting and other expenses related to New Residential’s operations prior to May 15, 2013 are reflected in the accompanying consolidated financial statements. New Residential and Newcastle do not share any expenses following the spin-off.

	The accompanying consolidated financial statements and related notes of New Residential have been prepared in accordance with accounting principles generally accepted in the United States for interim financial reporting and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared under U.S. generally accepted accounting principles have been condensed or omitted. In the opinion of management, all adjustments considered necessary for a fair presentation of New Residential’s financial position, results of operations and cash flows have been included and are of a normal and recurring nature. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. These financial statements should be read in conjunction with New Residential’s consolidated financial statements for the year ended December 31, 2012 and notes thereto included in New Residential’s Registration Statement on Form 10 filed with the Securities and Exchange Commission. Capitalized terms used herein, and not otherwise defined, are defined in New Residential’s consolidated financial statements for the year ended December 31, 2012.

	Recent Accounting Pronouncements

	In February 2013, the FASB issued new guidance regarding the reporting of reclassifications out of accumulated other comprehensive income. The new guidance does not change current requirements for reporting net income or other comprehensive income in the financial statements. However, it requires companies to present the effects on the line items of net income of significant amounts reclassified out of accumulated OCI if the item reclassified is required to be reclassified to net income in its entirety during the same reporting period. Presentation should occur either on the face of the income statement where net income is presented or in the notes to the financial statements. New Residential has adopted this accounting standard and presents this information in Note 13.

	The FASB has recently issued or discussed a number of proposed standards on such topics as consolidation, financial statement presentation, revenue recognition, financial instruments, hedging, and contingencies. Some of the proposed changes are significant and could have a material impact on New Residential’s reporting. New Residential has not yet fully evaluated the potential impact of these proposals, but will make such an evaluation as the standards are finalized.

SEGMENT_REPORTING

SEGMENT REPORTING	9 Months Ended
SEGMENT REPORTING	Sep. 30, 2013
Segment Reporting [Abstract]	'
SEGMENT REPORTING	'
	2. SEGMENT REPORTING

	New Residential conducts its business through the following segments: (i) investments in Excess MSRs, (ii) investments in real estate securities and loans, (iii) investments in consumer loans, and (iv) corporate. The corporate segment consists primarily of general and administrative expenses, the allocation of management fees by Newcastle until the spin-off on May 15, 2013, and the management fees and incentive compensation owed to the Manager by New Residential following the spin-off.

	Summary financial data on New Residential’s segments is given below, together with a reconciliation to the same data for New Residential as a whole:

		Excess MSRs		Real Estate Securities and Loans		Consumer Loans		Corporate			Total
	Three Months Ended September 30, 2013
	Interest income	$	9,761	$	12,120	$	—	$	4		$	21,885
	Interest expense		—		3,443		—		—			3,443
	Net interest income		9,761		8,677		—		4			18,442
	Impairment		—		—		—		—			—
	Other income		20,853		11,213		24,129		—			56,195
	Operating expenses		82		104		1		11,305			11,492
	Net income (loss)	$	30,532	$	19,786	$	24,128	$	(11,301	)	$	63,145

		Excess MSRs		Real Estate Securities and Loans		Consumer Loans		Corporate			Total
	Nine Months Ended September 30, 2013
	Interest income	$	30,541	$	30,492	$	—	$	42		$	61,075
	Interest expense		—		6,993		—		—			6,993
	Net interest income		30,541		23,499		—		42			54,082
	Impairment		—		3,756		—		—			3,756
	Other income		85,640		11,271		60,293		—			157,204
	Operating expenses		178		256		1,952		19,702			22,088
	Net income (loss)	$	116,003	$	30,758	$	58,341	$	(19,660	)	$	185,442

		Excess MSRs		Real Estate Securities and Loans		Consumer Loans		Corporate			Total
	30-Sep-13
	Investments	$	665,600	$	1,894,260	$	192,498	$	—		$	2,752,358
	Cash and cash equivalents		—		—		—		172,203			172,203
	Other assets		—		6,563		—		720			7,283
	Total assets		665,600		1,900,823		192,498		172,923			2,931,844
	Debt		—		1,467,934		—		—			1,467,934
	Other liabilities		82		149,352		—		53,440			202,874
	Total liabilities		82		1,617,286		—		53,440			1,670,808
	GAAP book value	$	665,518	$	283,537	$	192,498	$	119,483		$	1,261,036

	Investments in equity method investees	$	358,032	$	—	$	192,498	$	—		$	550,530

		Excess MSRs		Real Estate Securities and Loans		Consumer Loans		Corporate			Total
	Three Months Ended September 30, 2012
	Interest income	$	9,903	$	2,392	$	—	$	—		$	12,295
	Interest expense		—		298		—		—			298
	Net interest income		9,903		2,094		—		—			11,997
	Other income		1,774		—		—		—			1,774
	Operating expenses		994		—		—		1,009			2,003
	Net income (loss)	$	10,683	$	2,094	$	—	$	(1,009	)	$	11,768

		Excess MSRs		Real Estate Securities and Loans		Consumer Loans		Corporate			Total
	Nine Months Ended September 30, 2012
	Interest income	$	16,419	$	2,392	$	—	$	—		$	18,811
	Interest expense		—		298		—		—			298
	Net interest income		16,419		2,094		—		—			18,513
	Other income		6,513		—		—		—			6,513
	Operating expenses		2,141		—		—		1,955			4,096
	Net income (loss)	$	20,791	$	2,094	$	—	$	(1,955	)	$	20,930

INVESTMENTS_IN_EXCESS_MORTGAGE

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS AT FAIR VALUE	9 Months Ended
	Sep. 30, 2013
Investments In Excess Mortgage Servicing Rights At Fair Value	'
INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS AT FAIR VALUE	'
	3. INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS AT FAIR VALUE

	Pool 1. On December 13, 2011, Newcastle announced the completion of the first co-investment between New Residential and Nationstar in Excess MSRs related to mortgage servicing rights acquired by Nationstar. New Residential invested approximately $43.7 million to acquire a 65% interest in the Excess MSRs on a portfolio of government-sponsored enterprise (“GSE”) residential mortgage loans (“Pool 1”). Nationstar has co-invested on a pari passu basis with New Residential in 35% of the Excess MSRs and is the servicer of the loans, performing all servicing and advancing functions, and retaining the ancillary income, the servicing obligations and liabilities associated with this portfolio as the servicer. Under the terms of this investment, to the extent that any loans in the portfolio are refinanced by Nationstar, the resulting Excess MSRs are shared on a pro rata basis by New Residential and Nationstar, subject to certain limitations.

	Pool 2. On June 5, 2012, Newcastle announced the completion of a co-investment between New Residential and Nationstar in Excess MSRs related to mortgage servicing rights Nationstar acquired from Bank of America. New Residential invested approximately $42.3 million to acquire a 65% interest in the Excess MSRs on a portfolio of residential mortgage loans (“Pool 2”), comprised of loans in GSE pools. Nationstar has co-invested on a pari passu basis with New Residential in 35% of the Excess MSRs and is the servicer of the loans, performing all servicing and advancing functions, and retaining the ancillary income, servicing obligations and liabilities associated with this portfolio as the servicer. Under the terms of this investment, to the extent that any loans in the portfolio are refinanced by Nationstar, the resulting Excess MSRs are shared on a pro rata basis by New Residential and Nationstar, subject to certain limitations.

	Pools 3, 4 and 5. On June 29, 2012, Newcastle announced the completion of a co-investment between New Residential and Nationstar in Excess MSRs related to mortgage servicing rights Nationstar acquired from Aurora Bank FSB, a subsidiary of Lehman Brothers Bancorp Inc. New Residential invested approximately $176.5 million to acquire a 65% interest in the Excess MSRs on a portfolio of residential mortgage loans, comprised of approximately 25% conforming loans in Fannie Mae (“Pool 3”) and Freddie Mac (“Pool 4”) GSE pools as well as approximately 75% non-conforming loans in private label securitizations (“Pool 5”). Nationstar had co-invested on a pari passu basis with New Residential in 35% of the Excess MSRs and is the servicer of the loans, performing all servicing and advancing functions, and retaining the ancillary income, servicing obligations and liabilities associated with this portfolio as the servicer. In September 2013, New Residential invested an additional $26.6 million to acquire an additional 15% interest in the Excess MSRs related to Pool 5 from Nationstar. Under the terms of this investment, to the extent that any loans in the portfolio are refinanced by Nationstar, the resulting Excess MSRs are shared on a pro rata basis by New Residential and Nationstar, subject to certain limitations.

	Pool 11. On May 20, 2013, New Residential entered into an excess spread agreement with Nationstar to purchase a two-thirds interest in the Excess MSRs on a portion of the loans in the pool which are eligible to be refinanced by a specific third party for a period of time for $2.4 million, with Nationstar retaining the remaining one-third interest in the Excess MSRs and all servicing rights. After this period expires, Nationstar will have the ability to refinance all of the loans in the pool. See Note 6 for information on our other agreements with Nationstar with respect to Pool 11.

	Pool 12. On September 23, 2013, New Residential invested approximately $17.4 million to acquire a 40% interest in the Excess MSRs on a portfolio of residential mortgage loans (“Pool 12”), comprised of loans in private label securitizations. Fortress-managed funds also acquired a 40% interest in the Excess MSRs and the remaining 20% interest in the Excess MSRs is owned by Nationstar. Nationstar performs all servicing and advancing functions, and it retains the ancillary income, servicing obligations and liabilities associated with this portfolio as the servicer. Under the terms of this investment, to the extent that any loans in the portfolio are refinanced by Nationstar, the resulting Excess MSRs are shared on a pro rata basis by New Residential, the Fortress-managed funds and Nationstar, subject to certain limitations.

	As described above, New Residential has entered into a “Recapture Agreement” in each of the Excess MSR investments to date. Under the Recapture Agreements, New Residential is generally entitled to a pro rata interest in the Excess MSRs on any initial or subsequent refinancing by Nationstar of a loan in the original portfolio.

	New Residential elected to record its investments in Excess MSRs at fair value pursuant to the fair value option for financial instruments in order to provide users of the financial statements with better information regarding the effects of prepayment risk and other market factors on the Excess MSRs.

	The following is a summary of New Residential’s direct investments in Excess MSRs:

			30-Sep-13															Nine Months
																		Ended September 30,
																		2013
			Unpaid Principal			Interest in Excess MSR			Amortized		Carrying Value (B)		Weighted Average Yield			Weighted Average Life		Changes in Fair Value Recorded in Other
			Balance (“UPB”) of Underlying Mortgages			Interest in Excess MSR			Cost Basis (A)		Carrying Value (B)		Weighted Average Yield			(Years) (C)		Income (D)
	MSR Pool 1		$	7,171,426			65	%	$	27,255	$	37,907		12.5	%		4.9	$	4,914
	MSR Pool 1 - Recapture Agreement			—			65	%		2,230		4,629		12.5	%		11.3		1,893
	MSR Pool 2			8,217,751			65	%		30,806		35,592		12.5	%		5.2		3,742
	MSR Pool 2 - Recapture Agreement			—			65	%		1,934		5,882		12.5	%		12.3		3,767
	MSR Pool 3			8,066,890			65	%		25,250		34,063		12.5	%		4.8		5,958
	MSR Pool 3 - Recapture Agreement			—			65	%		3,608		5,231		12.5	%		11.6		1,699
	MSR Pool 4			5,222,892			65	%		10,032		13,743		12.5	%		5.2		2,693
	MSR Pool 4 - Recapture Agreement			—			65	%		2,509		3,446		12.5	%		11.6		951
	MSR Pool 5			38,315,786			80	%		121,544		142,387		12.7	%		5.4		18,864
	MSR Pool 5 - Recapture Agreement			—			80	%		9,277		4,779		12.7	%		12.5		(656	)
	MSR Pool 11 - Recapture Agreement			—			66.7	%		2,391		2,391		12.5	%		10.2		—
	MSR Pool 12			5,321,060			40	%		16,963		17,032		16.4	%		4.6		69
	MSR Pool 12 - Recapture Agreement			—			40	%		479		486		16.4	%		13.6		5
			$	72,315,805					$	254,278	$	307,568		12.9	%		5.8	$	43,899

	(A)	The amortized cost basis of the Recapture Agreements is determined based on the relative fair values of the Recapture Agreements and related Excess MSRs at the time they were acquired.

	(B)	Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.

	(C)	Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.

	(D)	The portion of the change in fair value of the Recapture Agreements relating to loans recaptured to date is reflected in the respective pool.

	The table below summarizes the geographic distribution of the underlying residential mortgage loans of the direct investments in Excess MSRs at September 30, 2013:

	State Concentration		Percentage of Total Outstanding
	California			30.3	%
	Florida			10.1	%
	New York			4.7	%
	Texas			4.2	%
	Washington			4.1	%
	Arizona			3.7	%
	Maryland			3.6	%
	Colorado			3.3	%
	New Jersey			3.3	%
	Virginia			3.1	%
	Other U.S.			29.6	%
				100	%

	Geographic concentrations of investments expose New Residential to the risk of economic downturns within the relevant states. Any such downturn in a state where New Residential holds significant investments could affect the underlying borrower’s ability to make mortgage payments and therefore could have a meaningful, negative impact on the Excess MSRs.

INVESTMENTS_IN_REAL_ESTATE_SEC

INVESTMENTS IN REAL ESTATE SECURITIES	9 Months Ended
INVESTMENTS IN REAL ESTATE SECURITIES	Sep. 30, 2013
Investments In Real Estate Securities	'
INVESTMENTS IN REAL ESTATE SECURITIES	'
	4. INVESTMENTS IN REAL ESTATE SECURITIES

	During 2013, New Residential acquired $661.2 million face amount of Non-Agency RMBS for approximately $450.0 million and $413.2 million face amount of Agency ARM RMBS for approximately $437.3 million. In addition, Newcastle contributed $1.0 billion face amount of Agency ARM RMBS to New Residential during this period. New Residential sold $153.5 million face amount of Non-Agency RMBS for approximately $123.1 million and recorded a gain of $11.3 million.

	During the third quarter of 2013, Nationstar exercised their cleanup call option related to four Non-Agency RMBS deals, in which Nationstar was the master servicer. New Residential owned $2.6 million face amount of Non-Agency RMBS in these deals. New Residential received par on these securities, which had an amortized cost basis of $2.1 million prior to the repayment, and recorded interest income of $0.6 million related to these securities in the third quarter of 2013.

	The following is a summary of New Residential’s real estate securities at September 30, 2013, all of which are classified as available-for-sale and are, therefore, reported at fair value with changes in fair value recorded in other comprehensive income.

									Gross Unrealized											Weighted Average
	Asset Type		Outstanding Face Amount			Amortized Cost Basis			Gains			Losses			Carrying			Number of		Rating (B)		Coupon				Yield				Life (Years) (C)			Principal Subordination (D)
	Asset Type		Outstanding Face Amount			Amortized Cost Basis			Gains			Losses			Value (A)			Securities		Rating (B)		Coupon				Yield				Life (Years) (C)			Principal Subordination (D)

	Agency ARM RMBS (E) (F)		$	1,203,293		$	1,285,532		$	1,480		$	(7,562	)	$	1,279,450			95	AAA			3.15	%			1.3	%			3			N/A
	Non-Agency RMBS			851,504			559,980			28,089			(6,319	)		581,750			95	CC			0.82	%			5.2	%			4.2			9.1	%
	Total/Weighted Average (G)		$	2,054,797		$	1,845,512		$	29,569		$	(13,881	)	$	1,861,200			190	BBB			2.18	%			2.48	%			3.5

	(A)	Fair value, which is equal to carrying value for all securities. See Note 9 regarding the estimation of fair value.

	(B)	Represents the weighted average of the ratings of all securities in each asset type, expressed as an S&P equivalent rating. For each security rated by multiple rating agencies, the lowest rating is used. Ratings provided were determined by third party rating agencies, and represent the most recent credit ratings available as of the reporting date and may not be current.

	(C)	The weighted average life is based on the timing of expected principal reduction on the assets.

	(D)	Percentage of the outstanding face amount of securities and residual interests that is subordinate to New Residential’s investments.

	(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”).

	(F)	Amortized cost basis and carrying value include principal receivable of $10.7 million.

	(G)	The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.

	Unrealized losses that are considered other than temporary are recognized currently in earnings. During the nine months ended September 30, 2013, New Residential recorded other-than-temporary impairment charges (“OTTI”) of $3.8 million with respect to real estate securities held prior to the spin-off on May 15, 2013. Based on Newcastle management’s analysis of these securities, Newcastle determined it did not have the intent to hold the securities past May 15, 2013. Any remaining unrealized losses on New Residential’s securities were primarily the result of changes in market factors, rather than issue-specific credit impairment. New Residential performed analyses in relation to such securities, using management’s best estimate of their cash flows, which support its belief that the carrying values of such securities were fully recoverable over their expected holding period. New Residential has no intent to sell, and is not more likely than not to be required to sell, these securities.

	The following table summarizes New Residential’s securities in an unrealized loss position as of September 30, 2013.

						Amortized Cost Basis																			Weighted Average
	Securities in an		Outstanding Face Amount			Before Impairment			Other-Than-Temporary Impairment (A)			After Impairment			Gross Unrealized Losses			Carrying Value			Number of Securities				Rating				Coupon			Yield				Life
	Unrealized Loss																																			(Years)
	Position

	Less than Twelve Months		$	1,015,349		$	995,953		$	(2,653	)	$	993,300		$	(13,676	)	$	979,624			85				A				2.72	%		2	%			3.2
	Twelve or More Months			30,939			33,451			(411	)	$	33,040			(205	)		32,835			4			AAA					3.5	%		1.28	%			2.6
	Total/Weighted Average		$	1,046,288		$	1,029,404		$	(3,064	)	$	1,026,340		$	(13,881	)	$	1,012,459			89				A				2.74	%		1.98	%			3.2

	(A)	Other than temporary impairment was recorded in connection with unrealized losses at the time of spin-off as Newcastle did not have the intent and ability to hold the securities past May 15, 2013. The losses were not recorded as the result of New Residential’s intent to sell the securities and are not the result of credit impairment.

	The table below summarizes the geographic distribution of the collateral securing New Residential’s Non-Agency RMBS at September 30, 2013:

	Geographic Location		Outstanding Face Amount			Percentage of Total Outstanding
	Western U.S.		$	344,107			40.4	%
	Southeastern U.S.			195,278			22.9	%
	Northeastern U.S.			165,401			19.4	%
	Midwestern U.S.			99,404			11.7	%
	Southwestern U.S.			47,314			5.6	%
			$	851,504			100	%

	New Residential evaluates the credit quality of its real estate securities, as of the acquisition date, for evidence of credit quality deterioration. As a result, New Residential identified a population of real estate securities for which it was determined that it was probable that New Residential would be unable to collect all contractually required payments. For securities acquired during the nine months ended September 30, 2013, the face amount of these real estate securities was $549.4 million, with total expected cash flows of $442.2 million and a fair value of $354.4 million on the dates that New Residential purchased the respective securities.

	The following is the outstanding face amount and carrying value for securities, for which, as of the acquisition date, it was probable that New Residential would be unable to collect all contractually required payments, at December 31, 2012 and September 30, 2013:



			Outstanding Face Amount			Carrying Value
	31-Dec-12		$	342,013		$	212,129
30-Sep-13		$	726,930		$	476,570

The following is a summary of the changes in accretable yield for these securities:


		For the Nine Months
		Ended September 30, 2013
Balance at December 31, 2012		$	90,077
Additions			87,756
Accretion			(14,797	)
Reclassifications from nonaccretable difference			38,662
Disposals			(18,672	)
Balance at September 30, 2013		$	183,026

INVESTMENT_IN_RESIDENTIAL_MORT

INVESTMENT IN RESIDENTIAL MORTGAGE LOANS

9 Months Ended

Sep. 30, 2013

Investment In Residential Mortgage Loans

INVESTMENT IN RESIDENTIAL MORTGAGE LOANS

5. INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS

On February 27, 2013, New Residential, through a subsidiary, entered into an agreement to co-invest in reverse mortgage loans with a UPB of approximately $83 million as of December 31, 2012. New Residential has invested approximately $35 million to acquire a 70% interest in the reverse mortgage loans. Nationstar has co-invested on a pari passu basis with New Residential in 30% of the reverse mortgage loans and is the servicer of the loans performing all servicing and advancing functions and retaining the ancillary income, servicing obligations and liabilities as the servicer.

Loans for which New Residential has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are classified as held-for-investment. Loans are presented in the consolidated balance sheet at cost net of any unamortized discount (or gross of any unamortized premium). New Residential determines at acquisition whether loans will be aggregated into pools based on common risk characteristics (credit quality, loan type, and date of origination or acquisition); loans aggregated into pools are accounted for as if each pool were a single loan. Income on these loans is recognized similarly to that on securities using a level yield methodology.

To the extent that residential mortgage loans are classified as held-for-investment, New Residential must periodically evaluate each of these loans or loan pools for possible impairment. Impairment is indicated when it is deemed probable that New Residential will be unable to collect all amounts due according to the contractual terms of the loan, or for loans acquired at a discount for credit losses, when it is deemed probable that New Residential will be unable to collect as anticipated. Upon determination of impairment, New Residential would establish a specific valuation allowance with a corresponding charge to earnings. New Residential continually evaluates its loans receivable for impairment. New Residential’s residential mortgage loans are aggregated into pools for evaluation based on like characteristics, such as loan type and acquisition date. Pools of loans are evaluated based on criteria such as an analysis of borrower performance, credit ratings of borrowers, loan to value ratios, the estimated value of the underlying collateral, the key terms of the loans and historical and anticipated trends in defaults and loss severities for the type and seasoning of loans being evaluated. This information is used to estimate provisions for estimated unidentified incurred losses on pools of loans. Significant judgment is required in determining impairment and in estimating the resulting loss allowance. Furthermore, New Residential must assess its intent and ability to hold its loan investments on a periodic basis. If New Residential does not have the intent to hold a loan for the foreseeable future or until its expected payoff, the loan must be classified as “held for sale” and recorded at the lower of cost or estimated value.

The following is a summary of residential mortgage loans at September 30, 2013, all of which are classified as held for investment:

Loan Type

Outstanding

Carrying

Loan Count

Weighted Average Yield

Weighted Average Coupon (B)

Weighted Average Life (Years) (C)

Floating Rate Loans as a % of Face Amount

Delinquent Face Amount

Face Amount (A)

Value (A)

Reverse Mortgage Loans

56,738

33,060

327

10.3

5.1

3.8

N/A

(A)

Represents a 70% interest New Residential holds in the reverse mortgage loans.

(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.

(C)

The weighted average life is based on the expected timing of the receipt of cash flows.

Activities related to the carrying value of residential mortgage loans are as follows:

For the nine months ended September 30, 2013

Balance at December 31, 2012

—

Purchases/additional fundings

35,138

Proceeds from repayments

(3,945

)

Accretion of loan discount and other amortization

1,867

Balance at September 30, 2013

33,060

INVESTMENTS_IN_EXCESS_MORTGAGE1

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS EQUITY METHOD INVESTEES	9 Months Ended
	Sep. 30, 2013
Investments In Excess Mortgage Servicing Rights Equity Method Investees	'
INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS EQUITY METHOD INVESTEES	'
	6. INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS EQUITY METHOD INVESTEES

	During the nine months ended September 30, 2013, New Residential entered into investments in joint ventures (“Excess MSR joint ventures”) jointly controlled by New Residential and Fortress-managed funds investing in Excess MSRs. New Residential elected to record these investments at fair value pursuant to the fair value option for financial instruments to provide users of the financial statements with better information regarding the effects of prepayment risk and other market factors.

	The following tables summarize the investments in equity method investees held by New Residential at September 30, 2013:


			30-Sep-13
	Excess MSR Assets		$	719,780
	Other Assets			1,991
	Debt			—
	Other Liabilities			(5,707	)
	Equity		$	716,064
	New Residential’s Investment		$	358,032
	New Residential’s Ownership			50	%

			Nine Months Ended September 30, 2013
	Interest Income		$	30,501
	Other Income			56,483
	Expenses			(3,502	)
	Net Income		$	83,482

	The following is a summary of New Residential’s Excess MSR investments made through equity method investees:

		September 30, 2013
			Unpaid			Investee			New Residential Interest			Amortized		Carrying Value (B)		Weighted Average Yield			Weighted Average Life (Years) (C)
			Principal			Interest in			in Investees			Cost Basis (A)
			Balance			Excess MSR
	MSR Pool 6		$	10,585,764			66.7	%		50	%	$	37,957	$	43,908		12.5	%		4.6
	MSR Pool 6 - Recapture Agreement			—			66.7	%		50	%		9,653		12,295		12.5	%		10.9
	MSR Pool 7			33,239,259			66.7	%		50	%		101,125		111,962		12.5	%		5
	MSR Pool 7 - Recapture Agreement			—			66.7	%		50	%		20,031		23,785		12.5	%		12
	MSR Pool 8			14,798,521			66.7	%		50	%		56,457		58,936		12.5	%		4.8
	MSR Pool 8 - Recapture Agreement			—			66.7	%		50	%		10,069		12,926		12.5	%		11.9
	MSR Pool 9			32,068,608			66.7	%		50	%		106,141		120,603		12.5	%		4.8
	MSR Pool 9 - Recapture Agreement			—			66.7	%		50	%		36,107		45,811		12.5	%		11
	MSR Pool 10			59,784,115			77	%		50	%		202,417		201,571		12.7	%		5.6
	MSR Pool 10 - Recapture Agreement			—			77	%		50	%		12,793		11,343		12.7	%		12.9
	MSR Pool 11			19,380,729			66.7	%		50	%		47,108		53,981		12.5	%		5.3
	MSR Pool 11 - Recapture Agreement			—			66.7	%		50	%		23,442		22,659		12.5	%		10.2
			$	169,856,996								$	663,300	$	719,780		12.6	%		6.2

	(A)	Represents the amortized cost basis of the equity method investees in which New Residential holds a 50% interest. The amortized cost basis of the Recapture Agreements is determined based on the relative fair values of the Recapture Agreements and related Excess MSRs at the time they were acquired.

	(B)	Represents the carrying value of the Excess MSRs held in equity method investees, in which New Residential holds a 50% interest. Carrying value represents the fair value of the pools or Recapture Agreements, as applicable.

	(C)	The weighted average life represents the weighted average expected timing of the receipt of cash flows of each investment.

	Pool 6. On January 4, 2013, New Residential, through a joint venture, co-invested in Excess MSRs on a portfolio of Government National Mortgage Association (“Ginnie Mae”) residential mortgage loans (“Pool 6”). Nationstar acquired the related servicing rights from Bank of America in November 2012. New Residential contributed approximately $28.9 million for a 50% interest in a joint venture which acquired an approximately 67% interest in the Excess MSRs on this portfolio. The remaining interests in the joint venture are owned by a Fortress-managed fund and the remaining interest of approximately 33% in the Excess MSRs is owned by Nationstar. Nationstar performs all servicing and advancing functions, and it retains the ancillary income, servicing obligations and liabilities associated with this portfolio as the servicer. Under the terms of this investment, to the extent that any loans in the portfolio are refinanced by Nationstar, the resulting Excess MSRs are shared on a pro rata basis by the joint venture and Nationstar, subject to certain limitations.

	Pools 7, 8, 9, 10. On January 6, 2013, New Residential, through joint ventures, agreed to co-invest in Excess MSRs on a portfolio of four pools of residential mortgage loans Nationstar acquired from Bank of America. At the time of acquisition, approximately 53% of the loans in this portfolio were in private label securitizations (“Pool 10”), and the remainder were owned, insured or guaranteed by Fannie Mae (“Pool 7”), Freddie Mac (“Pool 8”) or Ginnie Mae (“Pool 9”). New Residential committed to invest approximately $340 million for a 50% interest in joint ventures which were expected to acquire an approximately 67% interest in the Excess MSRs on these portfolios. The remaining interests in the joint ventures are owned by Fortress-managed funds and the remaining interest of approximately 33% in the Excess MSRs is owned by Nationstar. In September 2013, New Residential and a Fortress-managed fund each invested an additional $13.9 million into the joint venture invested in Pool 10 to acquire an additional 10% in the Excess MSRs held by the joint venture. Nationstar performs all servicing and advancing functions, and it retains the ancillary income, servicing obligations and liabilities associated with this portfolio as the servicer. Under the terms of this investment, to the extent that any loans in the portfolio are refinanced by Nationstar, the resulting Excess MSRs are shared on a pro rata basis by the joint ventures and Nationstar, subject to certain limitations.

	During the three months ended March 31, 2013, New Residential contributed $45.5 million towards commitments to fund Pools 7, 9 and 10 and contributed $35.2 million to fulfill commitments to fund Pool 8. During the three months ended June 30, 2013, New Residential contributed $31.5 million towards commitments to fund Pool 7. During the three months ended September 30, 2013, New Residential contributed $65.4 million to fulfill commitments to fund Pool 9 and contributed $107.6 million towards commitments to fund Pools 7 and 10. As of September 30, 2013, New Residential had contributed approximately $285.2 million to the joint ventures and had unfunded commitments remaining of $1.0 million, related to Pool 7 and $4.1 million related to Pool 10 that will increase the outstanding principal balance of Pool 10 by an estimated $10.9 billion. See Note 15 for recent events related to Pool 10.

	Pool 11. On May 20, 2013, New Residential acquired, through a joint venture, an interest in Excess MSRs from Nationstar on a portfolio of Freddie Mac residential mortgage loans (“Pool 11”). New Residential has invested approximately $37.8 million for a 50% interest in a joint venture which acquired an approximately 67% interest in the Excess MSRs on this portfolio. The remaining interests in the joint venture are owned by a Fortress-managed fund and the remaining interest of approximately 33% in the Excess MSR is owned by Nationstar. Nationstar performs all servicing and advancing functions, and it retains the ancillary income, servicing obligations and liabilities associated with this portfolio as the servicer. Under the terms of this investment, to the extent that any loans in the portfolio are refinanced by Nationstar, the resulting Excess MSRs are included in the portfolio, subject to certain limitations. See Note 3 for information on our other agreements with respect to Pool 11.

	The table below summarizes the geographic distribution of the underlying residential mortgage loans of the Excess MSR investments made through equity method investees at September 30, 2013:


	State Concentration		Percentage of Total Outstanding
	California			22.1	%
	Florida			8.8	%
	New York			5.3	%
Texas			5.2	%
Georgia			4.2	%
New Jersey			3.8	%
Illinois			3.5	%
Virginia			3.1	%
Maryland			3.1	%
Washington			2.9	%
Other U.S.			38	%
			100	%

INVESTMENTS_IN_CONSUMER_LOAN_E

INVESTMENTS IN CONSUMER LOAN EQUITY METHOD INVESTEES	9 Months Ended
INVESTMENTS IN CONSUMER LOAN EQUITY METHOD INVESTEES	Sep. 30, 2013
Investments In Consumer Loan Equity Method Investees	'
INVESTMENTS IN CONSUMER LOAN EQUITY METHOD INVESTEES	'
	7. INVESTMENTS IN CONSUMER LOAN EQUITY METHOD INVESTEES

	On April 1, 2013, New Residential completed, through newly formed limited liability companies (together, the “Consumer Loan Companies”) a co-investment in a portfolio of consumer loans with a UPB of approximately $4.2 billion as of December 31, 2012. The portfolio includes over 400,000 personal unsecured loans and personal homeowner loans originated through subsidiaries of HSBC Finance Corporation. The Consumer Loan Companies acquired the portfolio from HSBC Finance Corporation and its affiliates. New Residential invested approximately $250 million for 30% membership interests in each of the Consumer Loan Companies. Of the remaining 70% of the membership interests, Springleaf Finance, Inc. (“Springleaf”), which is majority-owned by Fortress funds managed by our Manager, acquired 47% and an affiliate of Blackstone Tactical Opportunities Advisors L.L.C. acquired 23%. Springleaf acts as the managing member of the Consumer Loan Companies. The Consumer Loan Companies initially financed $2.2 billion of the approximately $3.0 billion purchase price with asset-backed notes. In September 2013, the Consumer Loan Companies issued and sold an additional $372.0 million of asset-backed notes for 96% of par. These notes are subordinate to the $2.2 billion of debt issued in April 2013. The Consumer Loan Companies were formed on March 19, 2013, for the purpose of making this investment, and commenced operations upon the completion of the investment. After a servicing transition period, Springleaf will be the servicer of the loans and will provide all servicing and advancing functions for the portfolio.

	New Residential accounts for its investment in the Consumer Loan Companies pursuant to the equity method of accounting because it can exercise significant influence over the Consumer Loan Companies, but the requirements for consolidation are not met. New Residential’s share of earnings and losses in these equity method investees is included in “Earnings from investments in consumer loans, equity method investees” on the Consolidated Statements of Income. Equity method investments are included in “Investments in consumer loans, equity method investees” on the Consolidated Balance Sheets.

	New Residential periodically reviews equity method investments for impairment in value whenever events or changes in circumstances indicate that the carrying amount of such investments may not be recoverable. New Residential will record an impairment charge to the extent that the estimated fair value of an investment is less than its carrying value and New Residential determines the impairment is other-than-temporary.

	The following tables summarize the investment the Consumer Loan Companies held by New Residential at September 30, 2013:

			30-Sep-13
	Consumer Loan Assets		$	2,692,642
	Other Assets			90,103
	Debt (A)			(2,137,531	)
	Other Liabilities			(3,554	)
	Equity		$	641,660
	New Residential’s investment		$	192,498
	New Residential’s ownership			30	%

	(A)	Represents the Class A asset-backed notes with a face amount of $1.8 billion, an interest rate of 3.75% and a maturity of April 2021 and the Class B asset-backed notes with a face amount of $372.0 million, an interest rate of 4% and a maturity of December 2024. Substantially all of the net cash flow generated by the Consumer Loan Companies is required to be used to pay down the Class A notes. When the balance of the outstanding Class A notes is reduced to 50% of the outstanding UPB of the performing consumer loans, 70% of the net cash flow generated is required to be used to pay down the Class A notes and the equity holders of the Consumer Loan Companies and holders of the Class B notes will each be entitled to receive 15% of the net cash flow of the Consumer Loan Companies on a periodic basis.

			Nine Months Ended
			September 30, 2013
	Interest income		$	325,822
	Interest expense			(47,010	)
	Provision for finance receivable losses			(31,122	)
	Other expenses			(46,713	)
	Net income		$	200,977
	New Residential’s equity in net income		$	60,293

	The following is a summary of New Residential’s consumer loan investments made through equity method investees:

			30-Sep-13
			Unpaid			Interest in			Carrying Value (A)		Weighted Average Coupon (B)			Weighted Average Asset Yield			Weighted Average Expected Life (Years) (C)
			Principal			Consumer Loan Companies
			Balance
	Consumer Loans		$	3,490,345			30	%	$	2,692,642		18.3	%		15.5	%	3.6

	(A)	Represents the carrying value of the consumer loans held by the Consumer Loan Companies.

	(B)	Substantially all of the cash flow received on the loans is required to be used to make payments on the notes described above.

	(C)	Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.

	New Residential’s investments in consumer loans, equity method investees changed during the nine months ended September 30, 2013 as follows:


			For the Nine Months Ended September 30, 2013
	Balance at December 31, 2012		$	—
	Contributions to equity method investees			245,421
	Distributions of earnings from equity method investees			(60,293	)
	Distributions of capital from equity method investees			(52,923	)
	Earnings from investments in consumer loan equity method investees			60,293

	Balance at September 30, 2013		$	192,498

DEBT_OBLIGATIONS

DEBT OBLIGATIONS	9 Months Ended
DEBT OBLIGATIONS	Sep. 30, 2013
Debt Obligations	'
DEBT OBLIGATIONS	'
	8. DEBT OBLIGATIONS

	The following table presents certain information regarding New Residential’s debt obligations at September 30, 2013:

														Collateral
	Repurchase Agreements (A)	Month Issued		Outstanding Face		Carrying Value		Final Stated Maturity	Weighted Average Funding Cost			Weighted Average		Outstanding Face		Amortized Cost Basis		Carrying Value		Weighted Average Life (Years)
	Repurchase Agreements (A)	Month Issued		Outstanding Face		Carrying Value		Final Stated Maturity	Weighted Average Funding Cost			Life (Years)		Outstanding Face		Amortized Cost Basis		Carrying Value		Weighted Average Life (Years)

	Agency ARM RMBS (B)(C)	Various		$	1,071,587	$	1,071,587	13-Dec		0.36	%		0.1	$	1,067,063	$	1,130,533	$	1,124,451		2.9
	Non-Agency RMBS (C) (D) (E)	Various			53,475		53,475	13-Oct		1.84	%		0.1		100,411		77,108		75,667		5.3
	Non-Agency RMBS term repurchase agreement (E) (F)	13-Aug			342,872		342,872	14-Aug		2.43	%		0.8		729,299		465,126		489,876		4

				$	1,467,934	$	1,467,934			0.9	%		0.3	$	1,896,773	$	1,672,767	$	1,689,994		3.5

	(A)	These repurchase agreements had approximately $0.1 million of associated accrued interest payable at September 30, 2013.

	(B)	The counterparties of these repurchase agreements are Goldman Sachs $45.9 million, Barclays $287.7 million, Nomura $229.0 million, Citi $133.0 million, Morgan Stanley $97.1 million and Daiwa $278.9 million and were subject to customary margin call provisions.

	(C)	All of the repurchase agreements that matured during October 2013 were renewed or refinanced subsequent to September 30, 2013.

	(D)	The counterparties of these repurchase agreements are Barclays $21.8 million, and Royal Bank of Canada $31.6 million and were subject to customary margin call provisions.
	(D)
	(E)	All of the Non-Agency repurchase agreements have LIBOR-based floating interest rates.

	(F)	Represents a one year term master repurchase agreement with Alpine Securitization Corp., an asset-backed commercial paper facility sponsored by Credit Suisse AG. This repurchase agreement is not subject to margin call provisions and is subject to customary loan covenants and event of default provisions, including event of default provisions triggered by a 50% market capitalization decline provision, as well as a two to one indebtedness to tangible net worth provision. The financing bears interest at LIBOR plus an applicable margin as stated below:

	Monthly Payment Date		Applicable Margin
	August 2013 through October 2013			2.25	%
	November 2013 through January 2014			2.5	%
	February 2014 through April 2014			3	%
	May 2014 through August 2014			3.5	%

	On October 30, 2013, New Residential terminated its existing $342.9 million master repurchase agreement and entered into a new $414.2 million master repurchase agreement with Alpine Securitization Corp. See Note 15 for a description of this refinancing event.

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Sep. 30, 2013
Fair Value Of Financial Instruments	'
FAIR VALUE OF FINANCIAL INSTRUMENTS	'
	9. FAIR VALUE OF FINANCIAL INSTRUMENTS

	U.S. GAAP requires the categorization of the fair value of financial instruments into three broad levels which form a hierarchy.

	Level 1- Quoted prices in active markets for identical instruments.

	Level 2- Valuations based principally on other observable market parameters, including

		●	Quoted prices in active markets for similar instruments,
		●	Quoted prices in active markets for similar instruments,
		●	Quoted prices in less active or inactive markets for identical or similar instruments,

		●	Other observable inputs (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates), and

		●	Market corroborated inputs (derived principally from or corroborated by observable market data).

	Level 3- Valuations based significantly on unobservable inputs.

	New Residential follows this hierarchy for its financial instruments. The classifications are based on the lowest level of input that is significant to the fair value measurement.

	The carrying value and fair value of New Residential’s financial assets recorded at fair value on a recurring basis at September 30, 2013 were as follows:

											Fair Value
			Principal Balance or Notional Amount				Carrying Value				Level 2				Level 3				Total
	Assets:
	Real estate securities, available-for-sale		$	2,054,797			$	1,861,200			$	1,279,450			$	581,750			$	1,861,200
	Investments in excess mortgage servicing rights, at fair value (A)			72,315,805				307,568				—				307,568				307,568
	Investments in excess mortgage servicing rights, equity method investees, at fair value (A)			169,856,996				358,032				—				358,032				358,032
			$	244,227,598			$	2,526,800			$	1,279,450			$	1,247,350			$	2,526,800

	(A)	The notional amount represents the total unpaid principal balance of the mortgage loans underlying the Excess MSRs. New Residential does not receive an excess mortgage servicing amount on nonperforming loans in Agency portfolios.

	Investments in Excess MSRs Valuation

	Fair value estimates of New Residential’s Excess MSRs were based on internal pricing models. The valuation technique is based on discounted cash flows. Significant inputs used in the valuations included expectations of prepayment rates, delinquency rates, recapture rates, the excess mortgage servicing amount of the underlying mortgage loans and discount rates that market participants would use in determining the fair values of mortgage servicing rights on similar pools of residential mortgage loans. New Residential’s management validates significant inputs and outputs of the internal pricing models by comparing them to available independent third party market parameters and models for reasonableness. New Residential believes its valuation methods and the assumptions used are appropriate and consistent with other market participants.

	In order to evaluate the reasonableness of its fair value determinations, management engages an independent valuation firm to separately measure the fair value of its Excess MSRs. The independent valuation firm determines an estimated fair value range of each pool based on its own models and issues a “fairness opinion” with this range. Management compares the range included in the opinion to the value generated by its internal models. For Excess MSRs acquired prior to the current quarter, the fairness opinion relates to the valuation at the current quarter end date. For Excess MSRs acquired during the current quarter, the fairness opinion relates to the valuation at the time of acquisition. To date, New Residential has not made any significant valuation adjustments as a result of these fairness opinions.

	For Excess MSRs acquired during the current quarter, New Residential revalues the Excess MSRs at the quarter end date if a payment is received between the acquisition date and the end of the quarter. Otherwise, Excess MSRs acquired during the current quarter are carried at their amortized cost basis if there has been no change in assumptions since acquisition.

	In addition, in valuing the Excess MSRs, management considered the likelihood of Nationstar being removed as the servicer, which likelihood is considered to be remote. Fair value measurements of the Excess MSRs are sensitive to changes in the assumptions or methodology used to determine fair value, and such changes could result in a significant increase or decrease in the fair value. Significant increases (decreases) in the discount rates, prepayment or delinquency rates in isolation would result in a significantly lower (higher) fair value measurement, whereas significant increases (decreases) in the recapture rates or excess mortgage servicing amount in isolation would result in a significantly higher (lower) fair value measurement. Generally, a change in the delinquency rate assumption is accompanied by a directionally similar change in the assumption used for the prepayment speed.

	The following table summarizes certain information regarding the inputs used in valuing the Excess MSRs owned directly and through equity method investees as of September 30, 2013:

			Significant Inputs
	Held Directly (Note 3)		Prepayment Speed				Delinquency				Recapture Rate				Excess Mortgage Servicing Amount (D)		Discount Rate
	Held Directly (Note 3)		(A)				(B)				(C)				Excess Mortgage Servicing Amount (D)		Discount Rate
	MSR Pool 1			14.4	%			10	%			35	%		28 bps			12.5	%
	MSR Pool 1 - Recapture Agreement			8	%			10	%			35	%		21 bps			12.5	%
	MSR Pool 2			14.7	%			10.3	%			35	%		23 bps			12.5	%
	MSR Pool 2 - Recapture Agreement			8	%			5	%			35	%		21 bps			12.5	%
	MSR Pool 3			15.2	%			11.9	%			35	%		24 bps			12.5	%
	MSR Pool 3 - Recapture Agreement			8	%			10	%			35	%		21 bps			12.5	%
	MSR Pool 4			15.4	%			14.9	%			35	%		17 bps			12.5	%
	MSR Pool 4 - Recapture Agreement			8	%			10	%			35	%		21 bps			12.5	%
	MSR Pool 5			12.3	%			N/A	(E)			14	%		13 bps			12.7	%
	MSR Pool 5 - Recapture Agreement			8	%			N/A	(E)			15	%		21 bps			12.7	%
	MSR Pool 11 - Recapture Agreement			9.3	%			2.3	%			32	%		19 bps			12.5	%
	MSR Pool 12			15.3	%			N/A	(E)			16.7	%		26 bps			16.4	%
	MSR Pool 12 - Recapture Agreement			7	%			N/A	(E)			35	%		19 bps			16.4	%

	Held through Equity Method Investees (Note 6)
	MSR Pool 6			18.2	%			8.9	%			35	%		25 bps			12.5	%
MSR Pool 6 - Recapture Agreement			10	%			6	%			35	%		23 bps			12.5	%
MSR Pool 7			13.3	%			8	%			35	%		16 bps			12.5	%
MSR Pool 7 - Recapture Agreement			10	%			5	%			35	%		19 bps			12.5	%
MSR Pool 8			14.3	%			6.9	%			35	%		19 bps			12.5	%
MSR Pool 8 - Recapture Agreement			10	%			5	%			35	%		19 bps			12.5	%
MSR Pool 9			18	%			5	%			35	%		22 bps			12.5	%
MSR Pool 9 - Recapture Agreement			10	%			5	%			35	%		28 bps			12.5	%
MSR Pool 10			11.5	%			N/A	(E)			15	%		12 bps			12.7	%
MSR Pool 10 - Recapture Agreement			9	%			N/A	(E)			35	%		19 bps			12.7	%
MSR Pool 11			18.7	%			7.8	%			38.9	%		15 bps			12.5	%
MSR Pool 11 - Recapture Agreement			10	%			2	%			35	%		19 bps			12.5	%

(A)		Projected annualized weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector.

(B)	Projected percentage of mortgage loans in the pool that will miss their mortgage payments.

(C)	Percentage of voluntarily prepaid loans that are expected to be refinanced by Nationstar.

(D)	Weighted average total mortgage servicing amount in excess of the basic fee.

(E)	The Excess MSR will be paid on the total UPB of the mortgage portfolio (including both performing and delinquent loans until REO).

All of the assumptions listed have some degree of market observability, based on New Residential’s knowledge of the market, relationships with market participants, and use of common market data sources. Prepayment speed and delinquency rate projections are in the form of “curves” or “vectors” that vary over the expected life of the pool. New Residential uses assumptions that generate its best estimate of future cash flows for each investment in Excess MSRs.

When valuing Excess MSRs, New Residential uses the following criteria to determine the significant inputs:

	●	Prepayment Speed: Prepayment speed projections are in the form of a “vector” that varies over the expected life of the pool. The prepayment vector specifies the percentage of the collateral balance that is expected to prepay voluntarily (i.e., pay off) and involuntarily (i.e., default) at each point in the future. The prepayment vector is based on assumptions that reflect factors such as the borrower’s FICO score, loan-to-value ratio, debt-to-income ratio, vintage on a loan level basis, as well as the projected effect on loans eligible for the Home Affordable Refinance Program 2.0 (“HARP 2.0”). Management considers collateral-specific prepayment experience when determining this vector. For the Recapture Agreements and recaptured loans, New Residential also considers industry research on the prepayment experience of similar loan pools (i.e., loan pools composed of refinanced loans). This data is obtained from remittance reports, market data services and other market sources.

	●	Delinquency Rates: For existing mortgage pools, delinquency rates are based on the recent pool-specific experience of loans that missed their latest mortgage payments. For the Recapture Agreements and recaptured loans, delinquency rates are based on the experience of similar loan pools originated by Nationstar and delinquency experience over the past year. Management believes this time period provides a reasonable sample for projecting future delinquency rates while taking into account current market conditions. Additional consideration is given to loans that are expected to become 30 or more days delinquent.

	●	Recapture Rates: Recapture rates are based on actual average recapture rates experienced by Nationstar on similar mortgage loan pools. Generally, New Residential looks to one year worth of actual recapture rates, which management believes provides a reasonable sample for projecting future recapture rates while taking into account current market conditions.

	●	Excess Mortgage Servicing Amount: For existing mortgage pools, excess mortgage servicing amount projections are based on the actual total mortgage servicing amount in excess of a basic fee. For loans expected to be refinanced by Nationstar and subject to a Recapture Agreement, New Residential considers the excess mortgage servicing amount on loans recently originated by Nationstar over the past year and other general market considerations. Management believes this time period provides a reasonable sample for projecting future excess mortgage servicing amounts while taking into account current market conditions.

	●	Discount Rate: The discount rates used by New Residential are derived from market data on pricing of mortgage servicing rights backed by similar collateral.

New Residential uses different prepayment and delinquency assumptions in valuing the Excess MSRs relating to the original loan pools, the Recapture Agreements and the Excess MSRs relating to recaptured loans. The prepayment speed and delinquency rate assumptions differ because of differences in the collateral characteristics, eligibility for the Home Affordable Refinance Program 2.0 (“HARP 2.0”) and expected borrower behavior for original loans and loans which have been refinanced. New Residential uses the same assumptions for recapture and discount rates when valuing Excess MSRs and Recapture Agreements. These assumptions are based on historical recapture experience and market pricing.

Excess MSRs, owned directly, measured at fair value on a recurring basis using Level 3 inputs changed during the nine months ended September 30, 2013 as follows:

		Level 3 (A)
		MSR Pool 1				MSR Pool 2				MSR Pool 3				MSR Pool 4				MSR Pool 5			MSR Pool 11		MSR Pool 12		Total
Balance at December 31, 2012		$	40,910			$	39,322			$	35,434			$	15,036			$	114,334		$	—	$	—	$	245,036
Transfers (B)																										—
Transfers from Level 3 (B)			—				—				—				—				—			—		—		—
Transfers to Level 3 (B)			—				—				—				—				—			—		—		—
Gains (losses) included in net income (C)			6,807				7,509				7,657				3,644				18,208			—		74		43,899
Interest income			5,097				3,739				4,892				2,034				14,728			—		51		30,541
Purchases, sales and repayments																										—
Purchases			—				—				—				—				26,637			2,391		17,393		46,421
Purchase adjustments			—				—				—				—				—			—		—		—
Proceeds from sales			—				—				—				—				—			—		—		—
Proceeds from repayments			(10,278	)			(9,096	)			(8,689	)			(3,525	)			(26,741	)		—		—		(58,329	)
Balance at September 30, 2013		$	42,536			$	41,474			$	39,294			$	17,189			$	147,166		$	2,391	$	17,518	$	307,568

(A)	Includes the Recapture Agreement for each respective pool.

(B)	Transfers are assumed to occur at the beginning of the respective period.

(C)	The gains (losses) recorded in earnings during the period are attributable to the change in unrealized gains (losses) relating to Level 3 assets still held at the reporting dates. These gains (losses) represent the change in fair value of the Excess MSRs and are recorded in “Change in fair value of investments in excess mortgage servicing rights” in the consolidated statements of income.

Excess Mortgage Servicing Rights Equity Method Investees Valuation

Fair value estimates of New Residential’s investments were based on internal pricing models. New Residential estimated the fair value of the assets and liabilities of the underlying entities in which it holds an equity interest. The valuation technique is based on discounted cash flows. Significant inputs represent the inputs required to estimate the fair value of the Excess MSRs held by the entities and include expectations of prepayment rates, delinquency rates, recapture rates, the excess mortgage servicing amount of the underlying mortgage loans, and discount rates that market participants would use in determining the fair values of mortgage servicing rights on similar pools of residential mortgage loans. In addition, in valuing the Excess MSRs, management considered the likelihood of Nationstar being removed as servicer, which likelihood is considered to be remote. Refer to the Investments in Excess MSRs Valuation section above for further details.

New Residential’s investments in equity method investees measured at fair value on a recurring basis using Level 3 inputs changed during the nine months ended September 30, 2013 as follows:



		Nine Months Ended
		September 30, 2013
Balance at December 31, 2012		$	—
Contributions to equity method investees			351,937
Distributions of earnings from equity method investees			(18,626	)
Distributions of capital from equity method investees			(17,020	)
Change in fair value of investments in equity method investees			41,741
Balance at September 30, 2013		$	358,032

Real Estate Securities Valuation

As of September 30, 2013, New Residential’s securities valuation methodology and results are further detailed as follows:

										Fair Value
Asset Type		Outstanding Face Amount				Amortized Cost Basis				Multiple Quotes (A)				Total				Level

Agency ARM RMBS		$	1,203,293			$	1,285,532			$	1,279,450			$	1,279,450				2
Non-Agency RMBS			851,504				559,980				581,750				581,750				3

Total		$	2,054,797			$	1,845,512			$	1,861,200			$	1,861,200

(A)	Management generally obtained pricing service quotations or broker quotations from two sources, one of which was generally the seller (the party that sold New Residential the security) for Non-Agency RMBS. Management selected one of the quotes received as being most representative of the fair value and did not use an average of the quotes. Even if New Residential receives two or more quotes on a particular security that come from non-selling brokers or pricing services, it does not use an average because management believes using an actual quote more closely represents a transactable price for the security than an average level. Furthermore, in some cases there is a wide disparity between the quotes New Residential receives. Management believes using an average of the quotes in these cases would not represent the fair value of the asset. Based on New Residential’s own fair value analysis, management selects one of the quotes which is believed to more accurately reflect fair value. New Residential never adjusts quotes received. These quotations are generally received via email and contain disclaimers which state that they are “indicative” and not “actionable” — meaning that the party giving the quotation is not bound to actually purchase the security at the quoted price.

Fair value measurements categorized within Level 3 are sensitive to changes in the assumptions or methodology used to determine fair value, and such changes could result in a significant increase or decrease in the fair value. For New Residential’s investments in real estate securities categorized within Level 3 of the fair value hierarchy, the significant unobservable inputs include the discount rates, assumptions related to prepayments, default rates and loss severities. Significant increases (decreases) in any of the discount rates, default rates or loss severities in isolation would result in a significantly lower (higher) fair value measurement. The impact of changes in prepayment speeds would have differing impacts on fair value, depending on the seniority of the investment. Generally, a change in the default assumption is accompanied by directionally similar changes in the assumptions used for the loss severity and the prepayment speed.

Fair value estimates of New Residential’s Non-Agency RMBS were based on third party indications as of September 30, 2013 and classified as Level 3. Securities measured at fair value on a recurring basis using Level 3 inputs changed during the nine months ended September 30, 2013 as follows:

		Level 3
		Non-Agency
		RMBS

Balance at December 31, 2012		$	289,756
Transfer (A)
Transfers from Level 3			—
Transfers into Level 3			—

Total gains (losses)
Included in net income as impairment			(729	)
Gain on settlement of securities			11,271
Included in comprehensive income (B)			6,501

Amortization included in interest income			16,286
Purchases, sales and repayments
Purchases			450,144
Sales			(123,130	)
Proceeds from repayments			(68,349	)

Balance at September 30, 2013		$	581,750

(A)	Transfers are assumed to occur at the beginning of the respective period.

(B)	These gains (losses) were included in net unrealized gain (loss) on securities in the consolidated statements of comprehensive income.

Loans for Which Fair Value is Only Disclosed

As of September 30, 2013, loans which New Residential has the intent and ability to hold into the foreseeable future are classified as held-for-investment. Loans held-for-investment are carried at the aggregate unpaid principal balance adjusted for any unamortized premium or discount, deferred fees or expenses, an allowance for loan losses, charge-offs and write-downs for impaired loans.

The fair value of New Residential’s reverse mortgage loans held-for-investment were estimated based on a discounted cash flow analysis using internal pricing models. The significant inputs to these models include discount rates and the timing and amount of expected cash flows that management believes market participants would use in determining the fair values on similar pools of reverse mortgage loans. New Residential’s loans held-for-investment are categorized within Level 3 of the fair value hierarchy.

The following table summarizes the inputs used in valuing reverse mortgage loans as of September 30, 2013:

Reverse Mortgage Loans for Which Fair Value is Only Disclosed

																		Significant Inputs
Loan Type		Outstanding Face Amount (A)				Carrying Value (A)				Fair Value				Valuation Allowance/ (Reversal) In Current Year				Discount Rate			Weighted Average Life (Years) (B)

Reverse Mortgage Loans		$	56,738			$	33,060			$	33,162			$	—				10.3	%		3.8

(A)	Represents a 70% interest New Residential holds in the reverse mortgage loans.

(B)	The weighted average life is based on the expected timing of the receipt of cash flows.

Liabilities for Which Fair Value is Only Disclosed

Repurchase agreements are not measured at fair value in the statement of position; however, management believes that their carrying value approximates fair value. Repurchase agreements are considered to be Level 2 in the valuation hierarchy with significant valuation variables including the amount and timing of expected cash flows, interest rates and collateral funding spreads.

EQUITY_AND_EARNINGS_PER_SHARE

EQUITY AND EARNINGS PER SHARE	9 Months Ended
EQUITY AND EARNINGS PER SHARE	Sep. 30, 2013
Equity And Earnings Per Share	'
EQUITY AND EARNINGS PER SHARE	'
	10. EQUITY AND EARNINGS PER SHARE

	Equity and Dividends

	On April 26, 2013, Newcastle announced that its board of directors had formally declared the distribution of shares of common stock of New Residential, a then wholly owned subsidiary of Newcastle. Following the spin-off, New Residential is an independent, publicly-traded REIT primarily focused on investing in residential mortgage related assets. The spin-off was completed on May 15, 2013 and New Residential began trading on the New York Stock Exchange under the symbol “NRZ.” The spin-off transaction was effected as a taxable pro rata distribution by Newcastle of all the outstanding shares of common stock of New Residential to the stockholders of record of Newcastle as of May 6, 2013. The stockholders of Newcastle as of the record date received one share of New Residential common stock for each share of Newcastle common stock held.

	On April 29, 2013, New Residential’s certificate of incorporation was amended so that its authorized capital stock now consists of 2,000,000,000 shares of common stock, par value $0.01 per share, and 100,000,000 shares of preferred stock, par value $0.01 per share. At the time of the completion of the spin-off, there were 253,025,645 outstanding shares of common stock which was based on the number of Newcastle’s shares of common stock outstanding on May 6, 2013 and a distribution ratio of one share of New Residential common stock for each share of Newcastle common stock.

	On June 3, 2013, New Residential declared a quarterly dividend of $0.07 per common share, or $17.7 million, for the quarter ended June 30, 2013, based on earnings for the period May 16, 2013 to June 30, 2013, which was paid in July 2013. On September 17, 2013, New Residential declared a quarterly dividend of $0.175 per common share, or $44.3 million, for the quarter ended September 30, 2013, which was paid in October 2013.

	Approximately 5.3 million shares of New Residential’s common stock were held by Fortress, through its affiliates, and its principals at September 30, 2013.

	Options

	Effective upon the spin-off, New Residential has a Nonqualified Stock Option and Incentive Award Plan (the “Plan”) which provides for the grant of equity-based awards, including restricted stock, stock options, stock appreciation rights, performance awards, tandem awards and other equity-based and non-equity based awards, in each case to the Manager, and to the directors, officers, employees, service providers, consultants and advisor of the Manager who perform services for New Residential, and to New Residential’s directors, officers, service providers, consultants and advisors. New Residential has initially reserved 30,000,000 shares of its common stock for issuance under the Plan; on the first day of each fiscal year beginning during the ten-year term of the Plan in and after calendar year 2014, that number will be increased by a number of shares of New Residential’s common stock equal to 10% of the number of shares of common stock newly issued by New Residential during the immediately preceding fiscal year (and, in the case of fiscal year 2013, after the effective date of the Plan). New Residential’s board of directors may also determine to issue options to the Manager that are not subject to the Plan, provided that the number of shares underlying any options granted to the Manager in connection with capital raising efforts would not exceed 10% of the shares sold in such offering and would be subject to NYSE rules.

	Prior to the spin-off, Newcastle had issued options to the Manager in connection with capital raising activities. In connection with the spin-off, 21.5 million options that were held by FIG LLC, (the Manager), or by the directors, officers or employees of the Manager, were converted into an adjusted Newcastle option and a new New Residential option. The exercise price of each adjusted Newcastle option and New Residential option was set to collectively maintain the intrinsic value of the Newcastle option immediately prior to the spin-off and to maintain the ratio of the exercise price of the adjusted Newcastle option and the New Residential option, respectively, to the fair market value of the underlying shares as of the spin-off date, in each case based on the five day average closing price subsequent to the spin-off date.

	As a result of a resignation, a former employee of the Manager exercised 307,833 options with a weighted average exercise price of $3.08 on September 3, 2013. Upon exercise, 160,634 shares of common stock of New Residential were issued, reflecting the $1.0 million aggregate intrinsic value of the exercisable options. In addition, 192,167 unvested options and 2,170 vested options were forfeited by the employee and transferred back to the Manager.

	New Residential’s outstanding options at September 30, 2013 consisted of the following:

		Number of Options		Strike Price		Maturity Date
			304,604		12.28	12/1/13
			328,350		14.17	1/9/14
			343,275		13.86	5/25/14
			162,500		16.95	11/22/14
			330,000		15.97	1/12/15
			2,000		16.68	8/1/15
			170,000		15.87	11/1/16
			242,000		16.9	1/23/17
			456,000		14.96	4/11/17
			1,580,166		3.29	3/29/21
			2,424,833		2.49	9/27/21
			2,000		2.74	12/20/21
			1,867,167		3.41	4/3/21
			2,265,000		3.67	5/21/22
			2,499,167		3.67	7/31/22
			5,750,000		5.12	1/11/23
			2,300,000		5.74	2/15/23
			8,000		6.79	6/2/23
	Total/Weighted Average		21,035,062	$	5.35

	As of September 30, 2013, New Residential’s outstanding options were summarized as follows:

	Held by the Manager		17,893,795
	Issued to the Manager and subsequently transferred to certain of the Manager’s employees		3,129,267
	Issued to the independent directors		12,000
	Total		21,035,062

	Income and Earnings Per Share

	Net income earned prior to the spin-off is included in additional paid-in capital instead of retained earnings since the accumulation of retained earnings began as of the date of spin-off.

	New Residential is required to present both basic and diluted earnings per share (“EPS”). Basic EPS is calculated by dividing net income by the weighted average number of shares of common stock outstanding. Diluted EPS is computed by dividing net income by the weighted average number of shares of common stock outstanding plus the additional dilutive effect, if any, of common stock equivalents during each period. New Residential’s common stock equivalents are its outstanding stock options. During the three and nine months ended September 30, 2013, based on the treasury stock method, New Residential had 6,816,497 and 3,508,415 dilutive common stock equivalents, respectively. During the three and nine months ended September 30, 2012, New Residential did not have any dilutive common stock equivalents outstanding.

	For the purposes of computing EPS for periods prior to the spin-off on May 15, 2013, New Residential treated the common shares issued in connection with the spin-off as if they had been outstanding for all periods presented, similar to a stock split. For the purposes of computing diluted EPS for periods prior to the spin-off on May 15, 2013, New Residential treated the 21.5 million options issued on the spin-off date as a result of the conversion of Newcastle options as if they were granted on May 15, 2013 since no New Residential awards were outstanding prior to that date.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	11. COMMITMENTS AND CONTINGENCIES

	Litigation – New Residential may, from time to time, be a defendant in legal actions from transactions conducted in the ordinary course of business. As of September 30, 2013, New Residential is not subject to any material litigation, individually or in the aggregate, nor, to management’s knowledge, is any material litigation currently threatened against New Residential.

	Indemnifications – In the normal course of business, New Residential and its subsidiaries enter into contracts that contain a variety of representations and warranties and that provide general indemnifications. New Residential’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against New Residential that have not yet occurred. However, based on Newcastle’s and its own experience, New Residential expects the risk of material loss to be remote.

	Capital Commitments – As of September 30, 2013, New Residential had outstanding capital commitments related to investments in joint ventures in connection with the acquisition of Excess MSRs. See Notes 6 and 15, respectively, for a description of these commitments.

TRANSACTIONS_WITH_AFFILIATES_A

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES	9 Months Ended
	Sep. 30, 2013
Transactions With Affiliates And Affiliated Entities	'
TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES	'
	12. TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES

	New Residential has entered into a management agreement with the Manager, an affiliate of Fortress. Pursuant to the Management Agreement, the Manager, under the supervision of New Residential’s board of directors, formulates investment strategies, arranges for the acquisition of assets and associated financing, monitors the performance of New Residential’s assets and provides certain advisory, administrative and managerial services in connection with the operations of New Residential.

	Effective May 15, 2013, the Manager is entitled to receive a management fee in the amount equal to 1.5% per annum of New Residential’s gross equity calculated and payable monthly in arrears in cash. Gross equity is generally the equity transferred by Newcastle on the distribution date, plus total net proceeds from stock offerings, plus certain capital contributions to subsidiaries, less capital distributions and repurchases of common stock.

	In addition, effective May 15, 2013, the Manager is entitled to receive annual incentive compensation in an amount equal to the product of (A) 25% of the dollar amount by which (1) (a) New Residential’s Funds from Operations before the incentive compensation per share of common stock, excluding Funds from Operations from investments in equity method investees that are invested in consumer loans as of the date hereof (the Consumer Loan Companies) and any unrealized gains or losses from mark-to-market valuation changes on Excess MSRs and on equity method investees invested in Excess MSRs, per REIT Share (as defined in the Management Agreement, based on the weighted average number of REIT Shares outstanding), plus (b) earnings (or losses) from the Consumer Loan Companies computed on a level-yield basis (such that the loans are treated as if they qualified as loans acquired with a discount for credit quality as set forth in ASC 310-30, as such codification was in effect on June 30, 2013) as if the Consumer Loan Companies had been acquired at their GAAP basis on May 15, 2013, earnings (or losses) from equity method investees invested in Excess MSRs as if such equity method investees had not made a fair value election, and gains (or losses) from debt restructuring and gains (or losses) from sales of property and other assets per share of common stock, exceed (2) an amount equal to (a) the weighted average of the book value per share of the equity transferred by Newcastle on the date of the spin-off and the prices per share of New Residential’s common stock in any offerings (adjusted for prior capital dividends or capital distributions) multiplied by (b) a simple interest rate of 10% per annum, multiplied by (B) the weighted average number of shares of common stock outstanding. “Funds from Operations” means net income (computed in accordance with GAAP), excluding gains (or losses) from debt restructuring and gains (or losses) from sales of property, plus depreciation on real estate assets, and after adjustments for unconsolidated partnerships and joint ventures. Funds from operations will be computed on an unconsolidated basis. The computation of funds from operations may be adjusted at the direction of New Residential’s independent directors based on changes in, or certain applications of, GAAP. Funds from operations is determined from the date of the spin-off and without regard to Newcastle’s prior performance.

	In addition to the management fee and incentive compensation, New Residential is responsible for reimbursing the Manager for certain expenses paid by the Manager on behalf of New Residential.

	Due to affiliate is comprised of the following amounts:

		30-Sep-13		31-Dec-12
	Management fees	$	1,495	$	3,392
	Incentive compensation		5,348		—
	Expense reimbursements		266		—
	Purchase price payable		—		1,744
		$	7,109	$	5,136

	On June 27, 2013, New Residential purchased Agency ARM RMBS with an aggregate face amount of approximately $22.7 million from Newcastle for approximately $1.2 million, net of related financing. New Residential purchased the securities on the same terms as they were purchased by Newcastle and paid the $1.2 million to Newcastle during the third quarter of 2013.

	See Notes 1, 3 and 6 for a discussion of transactions with Nationstar. As of September 30, 2013, New Residential’s entire Non-Agency portfolio, with a total face amount of $851.5 million, was serviced by Nationstar. The total UPB of the loans underlying these Nationstar serviced Non-Agency RMBS was approximately $11.5 billion as of September 30, 2013.

	See Note 7 for a discussion of a transaction with Springleaf.

RECLASSIFICATION_FROM_ACCUMULA

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME	9 Months Ended
	Sep. 30, 2013
Reclassification From Accumulated Other Comprehensive Income Into Net Income	'
RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME	'
	13. RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME

	The following table summarizes the amounts reclassified out of accumulated other comprehensive income into net income:

	Accumulated Other Comprehensive	Statement of Income Location	Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013
	Income Components
	Reclassification of net realized (gain) loss on securities into earnings	Gain on settlement of securities	$	(11,213	)	$	(11,271	)
	Reclassification of net realized (gain) loss on securities into earnings	Other-than-temporary impairment on securities		—			3,756
	Total reclassifications		$	(11,213	)	$	(7,515	)

INCOME_TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2013
Income Taxes	'
INCOME TAXES	'
	14. INCOME TAXES

	New Residential intends to qualify as a REIT for the tax year ending December 31, 2013. A REIT is generally not subject to U.S. federal corporate income tax on that portion of its income that is distributed to stockholders if it distributes at least 90% of its REIT taxable income to its stockholders by prescribed dates and complies with various other requirements. New Residential was a wholly owned subsidiary of Newcastle until May 15, 2013 and, as a qualified REIT subsidiary, was a disregarded entity until such date. As a result, no provision or liability for U.S federal or state income taxes has been included in the accompanying consolidated financial statements for the periods ended September 30, 2013 or 2012.

RECENT_ACTIVITIES

RECENT ACTIVITIES	9 Months Ended
RECENT ACTIVITIES	Sep. 30, 2013
Recent Activities	'
RECENT ACTIVITIES	'
	15. RECENT ACTIVITIES

	These financial statements include a discussion of material events that have occurred subsequent to September 30, 2013 (referred to as “subsequent events”) through the issuance of these consolidated financial statements. Events subsequent to that date have not been considered in these financial statements.

	Subsequent to September 30, 2013, New Residential acquired Non-Agency RMBS with an aggregate face amount of approximately $194.3 million for approximately $126.6 million, all of which are serviced by Nationstar. New Residential sold one Non-Agency RMBS, which was serviced by Nationstar with a face amount of approximately $52.5 million and an amortized cost basis of approximately $31.5 million for approximately $38.1 million, recording a gain on sale of approximately $6.6 million.

	On October 30, 2013, New Residential terminated its existing $342.9 million master repurchase agreement and entered into a new $414.2 million master repurchase agreement with Alpine Securitization Corp, which has a one year maturity. The new $414.2 million master repurchase agreement is subject to margin call provisions as well as customary loan covenants and event of default provisions, including event of default provisions triggered by a 50% equity decline over any 12 month period and 35% equity decline over any 3 month period and a four-to-one indebtedness to tangible net worth provision. The financing bears interest at LIBOR + 1.75%.

	On November 1, 2013, New Residential completed an additional closing of Excess MSRs that it agreed to acquire as part of a previously announced transaction between Nationstar and Bank of America (see Note 6). New Residential invested approximately $3.4 million in Pool 10 on loans with an aggregate UPB of approximately $9.6 billion.

	New Residential has remaining commitments of approximately $0.7 million to fund additional investments in Pool 10, which have not yet closed and will increase the outstanding principal balance of Pool 10 by an estimated $1.3 billion.

	Subsequent to September 30, 2013, New Residential committed $32.3 million to invest in Excess MSRs on portfolios of GSE residential mortgage loans with an aggregate outstanding principal balance of approximately $13.1 billion, and $23.3 million to invest in Excess MSRs on a portfolio of PLS residential mortgage loans with an aggregate outstanding principal balance of approximately $10.5 billion. In each transaction, New Residential agreed to acquire a 33.3% interest in Excess MSRs on the portfolio. Fortress-managed funds and Nationstar each agreed to acquire a 33.3% interest in the Excess MSRs. Nationstar as servicer will perform all servicing and advancing functions, and retain the ancillary income, servicing obligations and liabilities as the servicer of the underlying loans in the portfolios. Commitments related to GSE residential mortgage loans are contingent upon GSE approval of Nationstar to service such loans and transfer Excess MSRs to New Residential.

	New Residential committed to purchase $106.6 million of non-performing loans with an aggregate face amount of approximately $197.3 million in October 2013.

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	9 Months Ended
SEGMENT REPORTING (Tables)	Sep. 30, 2013
Segment Reporting Tables	'
Schedule of segment reporting	'
	Summary financial data on New Residential’s segments is given below, together with a reconciliation to the same data for New Residential as a whole:

		Excess MSRs		Real Estate Securities and Loans		Consumer Loans		Corporate			Total
	Three Months Ended September 30, 2013
	Interest income	$	9,761	$	12,120	$	—	$	4		$	21,885
	Interest expense		—		3,443		—		—			3,443
	Net interest income		9,761		8,677		—		4			18,442
	Impairment		—		—		—		—			—
	Other income		20,853		11,213		24,129		—			56,195
	Operating expenses		82		104		1		11,305			11,492
	Net income (loss)	$	30,532	$	19,786	$	24,128	$	(11,301	)	$	63,145

		Excess MSRs		Real Estate Securities and Loans		Consumer Loans		Corporate			Total
	Nine Months Ended September 30, 2013
	Interest income	$	30,541	$	30,492	$	—	$	42		$	61,075
	Interest expense		—		6,993		—		—			6,993
	Net interest income		30,541		23,499		—		42			54,082
	Impairment		—		3,756		—		—			3,756
	Other income		85,640		11,271		60,293		—			157,204
	Operating expenses		178		256		1,952		19,702			22,088
	Net income (loss)	$	116,003	$	30,758	$	58,341	$	(19,660	)	$	185,442

		Excess MSRs		Real Estate Securities and Loans		Consumer Loans		Corporate			Total
	30-Sep-13
	Investments	$	665,600	$	1,894,260	$	192,498	$	—		$	2,752,358
	Cash and cash equivalents		—		—		—		172,203			172,203
	Other assets		—		6,563		—		720			7,283
	Total assets		665,600		1,900,823		192,498		172,923			2,931,844
	Debt		—		1,467,934		—		—			1,467,934
	Other liabilities		82		149,352		—		53,440			202,874
	Total liabilities		82		1,617,286		—		53,440			1,670,808
	GAAP book value	$	665,518	$	283,537	$	192,498	$	119,483		$	1,261,036

	Investments in equity method investees	$	358,032	$	—	$	192,498	$	—		$	550,530

		Excess MSRs		Real Estate Securities and Loans		Consumer Loans		Corporate			Total
	Three Months Ended September 30, 2012
	Interest income	$	9,903	$	2,392	$	—	$	—		$	12,295
	Interest expense		—		298		—		—			298
	Net interest income		9,903		2,094		—		—			11,997
	Other income		1,774		—		—		—			1,774
	Operating expenses		994		—		—		1,009			2,003
	Net income (loss)	$	10,683	$	2,094	$	—	$	(1,009	)	$	11,768

		Excess MSRs		Real Estate Securities and Loans		Consumer Loans		Corporate			Total
	Nine Months Ended September 30, 2012
	Interest income	$	16,419	$	2,392	$	—	$	—		$	18,811
	Interest expense		—		298		—		—			298
	Net interest income		16,419		2,094		—		—			18,513
	Other income		6,513		—		—		—			6,513
	Operating expenses		2,141		—		—		1,955			4,096
	Net income (loss)	$	20,791	$	2,094	$	—	$	(1,955	)	$	20,930

INVESTMENTS_IN_EXCESS_MORTGAGE2

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS AT FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2013
Investments In Excess Mortgage Servicing Rights At Fair Value Tables	'
Schedule of direct investment in Excess Mortgage Servicing Rights (MSRs)	'
	The following is a summary of New Residential’s direct investments in Excess MSRs:

			30-Sep-13															Nine Months
																		Ended September 30,
																		2013
			Unpaid Principal			Interest in Excess MSR			Amortized		Carrying Value (B)		Weighted Average Yield			Weighted Average Life		Changes in Fair Value Recorded in Other
			Balance (“UPB”) of Underlying Mortgages			Interest in Excess MSR			Cost Basis (A)		Carrying Value (B)		Weighted Average Yield			(Years) (C)		Income (D)
	MSR Pool 1		$	7,171,426			65	%	$	27,255	$	37,907		12.5	%		4.9	$	4,914
	MSR Pool 1 - Recapture Agreement			—			65	%		2,230		4,629		12.5	%		11.3		1,893
	MSR Pool 2			8,217,751			65	%		30,806		35,592		12.5	%		5.2		3,742
	MSR Pool 2 - Recapture Agreement			—			65	%		1,934		5,882		12.5	%		12.3		3,767
	MSR Pool 3			8,066,890			65	%		25,250		34,063		12.5	%		4.8		5,958
	MSR Pool 3 - Recapture Agreement			—			65	%		3,608		5,231		12.5	%		11.6		1,699
	MSR Pool 4			5,222,892			65	%		10,032		13,743		12.5	%		5.2		2,693
	MSR Pool 4 - Recapture Agreement			—			65	%		2,509		3,446		12.5	%		11.6		951
	MSR Pool 5			38,315,786			80	%		121,544		142,387		12.7	%		5.4		18,864
	MSR Pool 5 - Recapture Agreement			—			80	%		9,277		4,779		12.7	%		12.5		(656	)
	MSR Pool 11 - Recapture Agreement			—			66.7	%		2,391		2,391		12.5	%		10.2		—
	MSR Pool 12			5,321,060			40	%		16,963		17,032		16.4	%		4.6		69
	MSR Pool 12 - Recapture Agreement			—			40	%		479		486		16.4	%		13.6		5
			$	72,315,805					$	254,278	$	307,568		12.9	%		5.8	$	43,899

	(A)	The amortized cost basis of the Recapture Agreements is determined based on the relative fair values of the Recapture Agreements and related Excess MSRs at the time they were acquired.

	(B)	Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.

	(C)	Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.

	(D)	The portion of the change in fair value of the Recapture Agreements relating to loans recaptured to date is reflected in the respective pool.
Summary of the geographic distribution of the underlying residential mortgage loans of the direct investment in Excess MSRs	'
	The table below summarizes the geographic distribution of the underlying residential mortgage loans of the direct investments in Excess MSRs at September 30, 2013:

	State Concentration		Percentage of Total Outstanding
	California			30.3	%
	Florida			10.1	%
	New York			4.7	%
	Texas			4.2	%
	Washington			4.1	%
	Arizona			3.7	%
	Maryland			3.6	%
	Colorado			3.3	%
	New Jersey			3.3	%
	Virginia			3.1	%
	Other U.S.			29.6	%
				100	%

	Geographic concentrations of investments expose New Residential to the risk of economic downturns within the relevant states. Any such downturn in a state where New Residential holds significant investments could affect the underlying borrower’s ability to make mortgage payments and therefore could have a meaningful, negative impact on the Excess MSRs.

INVESTMENTS_IN_REAL_ESTATE_SEC1

INVESTMENTS IN REAL ESTATE SECURITIES (Tables)	9 Months Ended
INVESTMENTS IN REAL ESTATE SECURITIES (Tables)	Sep. 30, 2013
Investments In Real Estate Securities Tables	'
Schedule of Real Estate Securities - available for sale	'
	The following is a summary of New Residential’s real estate securities at September 30, 2013, all of which are classified as available-for-sale and are, therefore, reported at fair value with changes in fair value recorded in other comprehensive income.

									Gross Unrealized											Weighted Average
	Asset Type		Outstanding Face Amount			Amortized Cost Basis			Gains			Losses			Carrying			Number of		Rating (B)		Coupon				Yield				Life (Years) (C)			Principal Subordination (D)
	Asset Type		Outstanding Face Amount			Amortized Cost Basis			Gains			Losses			Value (A)			Securities		Rating (B)		Coupon				Yield				Life (Years) (C)			Principal Subordination (D)

	Agency ARM RMBS (E) (F)		$	1,203,293		$	1,285,532		$	1,480		$	(7,562	)	$	1,279,450			95	AAA			3.15	%			1.3	%			3			N/A
	Non-Agency RMBS			851,504			559,980			28,089			(6,319	)		581,750			95	CC			0.82	%			5.2	%			4.2			9.1	%
	Total/Weighted Average (G)		$	2,054,797		$	1,845,512		$	29,569		$	(13,881	)	$	1,861,200			190	BBB			2.18	%			2.48	%			3.5

	(A)	Fair value, which is equal to carrying value for all securities. See Note 9 regarding the estimation of fair value.

	(B)	Represents the weighted average of the ratings of all securities in each asset type, expressed as an S&P equivalent rating. For each security rated by multiple rating agencies, the lowest rating is used. Ratings provided were determined by third party rating agencies, and represent the most recent credit ratings available as of the reporting date and may not be current.

	(C)	The weighted average life is based on the timing of expected principal reduction on the assets.

	(D)	Percentage of the outstanding face amount of securities and residual interests that is subordinate to New Residential’s investments.

	(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”).

	(F)	Amortized cost basis and carrying value include principal receivable of $10.7 million.

	(G)	The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.
Schedule of Real Estate Securities in an Unrealized Loss Position	'
	The following table summarizes New Residential’s securities in an unrealized loss position as of September 30, 2013.

						Amortized Cost Basis																			Weighted Average
	Securities in an		Outstanding Face Amount			Before Impairment			Other-Than-Temporary Impairment (A)			After Impairment			Gross Unrealized Losses			Carrying Value			Number of Securities				Rating				Coupon			Yield				Life
	Unrealized Loss																																			(Years)
	Position

	Less than Twelve Months		$	1,015,349		$	995,953		$	(2,653	)	$	993,300		$	(13,676	)	$	979,624			85				A				2.72	%		2	%			3.2
	Twelve or More Months			30,939			33,451			(411	)	$	33,040			(205	)		32,835			4			AAA					3.5	%		1.28	%			2.6
	Total/Weighted Average		$	1,046,288		$	1,029,404		$	(3,064	)	$	1,026,340		$	(13,881	)	$	1,012,459			89				A				2.74	%		1.98	%			3.2

	(A)	Other than temporary impairment was recorded in connection with unrealized losses at the time of spin-off as Newcastle did not have the intent and ability to hold the securities past May 15, 2013. The losses were not recorded as the result of New Residential’s intent to sell the securities and are not the result of credit impairment.
Schedule of geographic distribution of collateral securing non-agency RMBS	'
	The table below summarizes the geographic distribution of the collateral securing New Residential’s Non-Agency RMBS at September 30, 2013:

	Geographic Location		Outstanding Face Amount			Percentage of Total Outstanding
	Western U.S.		$	344,107			40.4	%
	Southeastern U.S.			195,278			22.9	%
	Northeastern U.S.			165,401			19.4	%
	Midwestern U.S.			99,404			11.7	%
	Southwestern U.S.			47,314			5.6	%
			$	851,504			100	%

Schedule of Real Estate Securities with a deteriorated credit quality rating	'
	The following is the outstanding face amount and carrying value for securities, for which, as of the acquisition date, it was probable that New Residential would be unable to collect all contractually required payments, at December 31, 2012 and September 30, 2013:



			Outstanding Face Amount			Carrying Value
	31-Dec-12		$	342,013		$	212,129
	30-Sep-13		$	726,930		$	476,570
Schedule of accretable yield of real estate securities	'
	The following is a summary of the changes in accretable yield for these securities:


			For the Nine Months
			Ended September 30, 2013
	Balance at December 31, 2012		$	90,077
	Additions			87,756
	Accretion			(14,797	)
	Reclassifications from nonaccretable difference			38,662
	Disposals			(18,672	)
	Balance at September 30, 2013		$	183,026

INVESTMENT_IN_RESIDENTIAL_MORT1

INVESTMENT IN RESIDENTIAL MORTGAGE LOANS (Tables)

9 Months Ended

Sep. 30, 2013

Investment In Residential Mortgage Loans Tables

Schedule of Residential Mortgage Loans

The following is a summary of residential mortgage loans at September 30, 2013, all of which are classified as held for investment:

Loan Type

Outstanding

Carrying

Loan Count

Weighted Average Yield

Weighted Average Coupon (B)

Weighted Average Life (Years) (C)

Floating Rate Loans as a % of Face Amount

Delinquent Face Amount

Face Amount (A)

Value (A)

Reverse Mortgage Loans

56,738

33,060

327

10.3

5.1

3.8

N/A

(A)

Represents a 70% interest New Residential holds in the reverse mortgage loans.

(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.

(C)

The weighted average life is based on the expected timing of the receipt of cash flows.

Schedule of Activity in Carrying Value of Residential Mortgage Loans

Activities related to the carrying value of residential mortgage loans are as follows:

For the nine months ended September 30, 2013

Balance at December 31, 2012

—

Purchases/additional fundings

35,138

Proceeds from repayments

(3,945

)

Accretion of loan discount and other amortization

1,867

Balance at September 30, 2013

33,060

INVESTMENTS_IN_EXCESS_MORTGAGE3

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS EQUITY METHOD INVESTEES (Tables)	9 Months Ended
	Sep. 30, 2013
Investments In Excess Mortgage Servicing Rights Equity Method Investees Tables	'
Schedule of investments in excess mortgage servicing rights equity method investees	'
	The following tables summarize the investments in equity method investees held by New Residential at September 30, 2013:


			30-Sep-13
	Excess MSR Assets		$	719,780
	Other Assets			1,991
	Debt			—
	Other Liabilities			(5,707	)
	Equity		$	716,064
	New Residential’s Investment		$	358,032
	New Residential’s Ownership			50	%

			Nine Months Ended September 30, 2013
	Interest Income		$	30,501
	Other Income			56,483
	Expenses			(3,502	)
	Net Income		$	83,482

Schedule of Excess Mortgage Servicing Rights (MSRs) investments made through equity method investees	'
	The following is a summary of New Residential’s Excess MSR investments made through equity method investees:

		September 30, 2013
			Unpaid			Investee			New Residential Interest			Amortized		Carrying Value (B)		Weighted Average Yield			Weighted Average Life (Years) (C)
			Principal			Interest in			in Investees			Cost Basis (A)
			Balance			Excess MSR
	MSR Pool 6		$	10,585,764			66.7	%		50	%	$	37,957	$	43,908		12.5	%		4.6
	MSR Pool 6 - Recapture Agreement			—			66.7	%		50	%		9,653		12,295		12.5	%		10.9
	MSR Pool 7			33,239,259			66.7	%		50	%		101,125		111,962		12.5	%		5
	MSR Pool 7 - Recapture Agreement			—			66.7	%		50	%		20,031		23,785		12.5	%		12
	MSR Pool 8			14,798,521			66.7	%		50	%		56,457		58,936		12.5	%		4.8
	MSR Pool 8 - Recapture Agreement			—			66.7	%		50	%		10,069		12,926		12.5	%		11.9
	MSR Pool 9			32,068,608			66.7	%		50	%		106,141		120,603		12.5	%		4.8
	MSR Pool 9 - Recapture Agreement			—			66.7	%		50	%		36,107		45,811		12.5	%		11
	MSR Pool 10			59,784,115			77	%		50	%		202,417		201,571		12.7	%		5.6
	MSR Pool 10 - Recapture Agreement			—			77	%		50	%		12,793		11,343		12.7	%		12.9
	MSR Pool 11			19,380,729			66.7	%		50	%		47,108		53,981		12.5	%		5.3
	MSR Pool 11 - Recapture Agreement			—			66.7	%		50	%		23,442		22,659		12.5	%		10.2
			$	169,856,996								$	663,300	$	719,780		12.6	%		6.2

	(A)	Represents the amortized cost basis of the equity method investees in which New Residential holds a 50% interest. The amortized cost basis of the Recapture Agreements is determined based on the relative fair values of the Recapture Agreements and related Excess MSRs at the time they were acquired.

	(B)	Represents the carrying value of the Excess MSRs held in equity method investees, in which New Residential holds a 50% interest. Carrying value represents the fair value of the pools or Recapture Agreements, as applicable.

	(C)	The weighted average life represents the weighted average expected timing of the receipt of cash flows of each investment.
Summary of the geographic distribution of the underlying residential mortgage loans of Excess MSRs made through equity method investees	'
	The table below summarizes the geographic distribution of the underlying residential mortgage loans of the Excess MSR investments made through equity method investees at September 30, 2013:


	State Concentration		Percentage of Total Outstanding
	California			22.1	%
	Florida			8.8	%
	New York			5.3	%
	Texas			5.2	%
	Georgia			4.2	%
	New Jersey			3.8	%
	Illinois			3.5	%
	Virginia			3.1	%
	Maryland			3.1	%
	Washington			2.9	%
	Other U.S.			38	%
				100	%

INVESTMENTS_IN_CONSUMER_LOAN_E1

INVESTMENTS IN CONSUMER LOAN EQUITY METHOD INVESTEES (Tables)	9 Months Ended
	Sep. 30, 2013
Investments In Consumer Loan Equity Method Investees Tables	'
Schedule of investments in consumer loan equity method investees	'
	The following tables summarize the investment the Consumer Loan Companies held by New Residential at September 30, 2013:

			30-Sep-13
	Consumer Loan Assets		$	2,692,642
	Other Assets			90,103
	Debt (A)			(2,137,531	)
	Other Liabilities			(3,554	)
	Equity		$	641,660
	New Residential’s investment		$	192,498
	New Residential’s ownership			30	%

	(A)	Represents the Class A asset-backed notes with a face amount of $1.8 billion, an interest rate of 3.75% and a maturity of April 2021 and the Class B asset-backed notes with a face amount of $372.0 million, an interest rate of 4% and a maturity of December 2024. Substantially all of the net cash flow generated by the Consumer Loan Companies is required to be used to pay down the Class A notes. When the balance of the outstanding Class A notes is reduced to 50% of the outstanding UPB of the performing consumer loans, 70% of the net cash flow generated is required to be used to pay down the Class A notes and the equity holders of the Consumer Loan Companies and holders of the Class B notes will each be entitled to receive 15% of the net cash flow of the Consumer Loan Companies on a periodic basis.

			Nine Months Ended
			September 30, 2013
	Interest income		$	325,822
	Interest expense			(47,010	)
	Provision for finance receivable losses			(31,122	)
	Other expenses			(46,713	)
	Net income		$	200,977
	New Residential’s equity in net income		$	60,293
Schedule of consumer loan investments made through equity method investees	'
	The following is a summary of New Residential’s consumer loan investments made through equity method investees:

			30-Sep-13
			Unpaid			Interest in			Carrying Value (A)		Weighted Average Coupon (B)			Weighted Average Asset Yield			Weighted Average Expected Life (Years) (C)
			Principal			Consumer Loan Companies
			Balance
	Consumer Loans		$	3,490,345			30	%	$	2,692,642		18.3	%		15.5	%	3.6

	(A)	Represents the carrying value of the consumer loans held by the Consumer Loan Companies.

	(B)	Substantially all of the cash flow received on the loans is required to be used to make payments on the notes described above.

	(C)	Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
Schedule of change in investments in consumer loan equity method investees	'
	New Residential’s investments in consumer loans, equity method investees changed during the nine months ended September 30, 2013 as follows:


			For the Nine Months Ended September 30, 2013
	Balance at December 31, 2012		$	—
	Contributions to equity method investees			245,421
	Distributions of earnings from equity method investees			(60,293	)
	Distributions of capital from equity method investees			(52,923	)
	Earnings from investments in consumer loan equity method investees			60,293

	Balance at September 30, 2013		$	192,498

DEBT_OBLIGATIONS_Tables

DEBT OBLIGATIONS (Tables)	9 Months Ended
DEBT OBLIGATIONS (Tables)	Sep. 30, 2013
Debt Obligations Tables	'
Schedule of Debt Obligations	'
	The following table presents certain information regarding New Residential’s debt obligations at September 30, 2013:

														Collateral
	Repurchase Agreements (A)	Month Issued		Outstanding Face		Carrying Value		Final Stated Maturity	Weighted Average Funding Cost			Weighted Average		Outstanding Face		Amortized Cost Basis		Carrying Value		Weighted Average Life (Years)
	Repurchase Agreements (A)	Month Issued		Outstanding Face		Carrying Value		Final Stated Maturity	Weighted Average Funding Cost			Life (Years)		Outstanding Face		Amortized Cost Basis		Carrying Value		Weighted Average Life (Years)

	Agency ARM RMBS (B)(C)	Various		$	1,071,587	$	1,071,587	13-Dec		0.36	%		0.1	$	1,067,063	$	1,130,533	$	1,124,451		2.9
	Non-Agency RMBS (C) (D) (E)	Various			53,475		53,475	13-Oct		1.84	%		0.1		100,411		77,108		75,667		5.3
	Non-Agency RMBS term repurchase agreement (E) (F)	13-Aug			342,872		342,872	14-Aug		2.43	%		0.8		729,299		465,126		489,876		4

				$	1,467,934	$	1,467,934			0.9	%		0.3	$	1,896,773	$	1,672,767	$	1,689,994		3.5

	(A)	These repurchase agreements had approximately $0.1 million of associated accrued interest payable at September 30, 2013.

	(B)	The counterparties of these repurchase agreements are Goldman Sachs $45.9 million, Barclays $287.7 million, Nomura $229.0 million, Citi $133.0 million, Morgan Stanley $97.1 million and Daiwa $278.9 million and were subject to customary margin call provisions.

	(C)	All of the repurchase agreements that matured during October 2013 were renewed or refinanced subsequent to September 30, 2013.

	(D)	The counterparties of these repurchase agreements are Barclays $21.8 million, and Royal Bank of Canada $31.6 million and were subject to customary margin call provisions.
	(D)
	(E)	All of the Non-Agency repurchase agreements have LIBOR-based floating interest rates.

	(F)	Represents a one year term master repurchase agreement with Alpine Securitization Corp., an asset-backed commercial paper facility sponsored by Credit Suisse AG. This repurchase agreement is not subject to margin call provisions and is subject to customary loan covenants and event of default provisions, including event of default provisions triggered by a 50% market capitalization decline provision, as well as a two to one indebtedness to tangible net worth provision. The financing bears interest at LIBOR plus an applicable margin as stated below:

	Monthly Payment Date		Applicable Margin
	August 2013 through October 2013			2.25	%
	November 2013 through January 2014			2.5	%
	February 2014 through April 2014			3	%
	May 2014 through August 2014			3.5	%
Schedule of maturities of repurchase agreements	'
	The financing bears interest at LIBOR plus an applicable margin as stated below:

	Monthly Payment Date		Applicable Margin
	August 2013 through October 2013			2.25	%
	November 2013 through January 2014			2.5	%
	February 2014 through April 2014			3	%
	May 2014 through August 2014			3.5	%

FAIR_VALUE_OF_FINANCIAL_INSTRU1

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	Sep. 30, 2013
Fair Value Of Financial Instruments Tables	'
Schedule of Fair Value of Assets Measured on a Recurring Basis	'
	The carrying value and fair value of New Residential’s financial assets recorded at fair value on a recurring basis at September 30, 2013 were as follows:

									Fair Value
			Principal Balance or Notional Amount			Carrying Value			Level 2			Level 3				Total
	Assets:
	Real estate securities, available-for-sale		$	2,054,797		$	1,861,200		$	1,279,450		$	581,750			$	1,861,200
	Investments in excess mortgage servicing rights, at fair value (A)			72,315,805			307,568			—			307,568				307,568
	Investments in excess mortgage servicing rights, equity method investees, at fair value (A)			169,856,996			358,032			—			358,032				358,032
			$	244,227,598		$	2,526,800		$	1,279,450		$	1,247,350			$	2,526,800

	(A)	The notional amount represents the total unpaid principal balance of the mortgage loans underlying the Excess MSRs. New Residential does not receive an excess mortgage servicing amount on nonperforming loans in Agency portfolios.
Schedule of Inputs used in Valuing the Excess MSRs owned directly and through equity method investees	'
	The following table summarizes certain information regarding the inputs used in valuing the Excess MSRs owned directly and through equity method investees as of September 30, 2013:

			Significant Inputs
	Held Directly (Note 3)		Prepayment Speed			Delinquency			Recapture Rate			Excess Mortgage Servicing Amount (D)		Discount Rate
	Held Directly (Note 3)		(A)			(B)			(C)			Excess Mortgage Servicing Amount (D)		Discount Rate
	MSR Pool 1			14.4	%		10	%		35	%	28 bps			12.5	%
	MSR Pool 1 - Recapture Agreement			8	%		10	%		35	%	21 bps			12.5	%
	MSR Pool 2			14.7	%		10.3	%		35	%	23 bps			12.5	%
	MSR Pool 2 - Recapture Agreement			8	%		5	%		35	%	21 bps			12.5	%
	MSR Pool 3			15.2	%		11.9	%		35	%	24 bps			12.5	%
	MSR Pool 3 - Recapture Agreement			8	%		10	%		35	%	21 bps			12.5	%
	MSR Pool 4			15.4	%		14.9	%		35	%	17 bps			12.5	%
	MSR Pool 4 - Recapture Agreement			8	%		10	%		35	%	21 bps			12.5	%
	MSR Pool 5			12.3	%		N/A	(E)		14	%	13 bps			12.7	%
	MSR Pool 5 - Recapture Agreement			8	%		N/A	(E)		15	%	21 bps			12.7	%
	MSR Pool 11 - Recapture Agreement			9.3	%		2.3	%		32	%	19 bps			12.5	%
	MSR Pool 12			15.3	%		N/A	(E)		16.7	%	26 bps			16.4	%
	MSR Pool 12 - Recapture Agreement			7	%		N/A	(E)		35	%	19 bps			16.4	%

	Held through Equity Method Investees (Note 6)
	MSR Pool 6			18.2	%		8.9	%		35	%	25 bps			12.5	%
	MSR Pool 6 - Recapture Agreement			10	%		6	%		35	%	23 bps			12.5	%
	MSR Pool 7			13.3	%		8	%		35	%	16 bps			12.5	%
	MSR Pool 7 - Recapture Agreement			10	%		5	%		35	%	19 bps			12.5	%
	MSR Pool 8			14.3	%		6.9	%		35	%	19 bps			12.5	%
	MSR Pool 8 - Recapture Agreement			10	%		5	%		35	%	19 bps			12.5	%
	MSR Pool 9			18	%		5	%		35	%	22 bps			12.5	%
	MSR Pool 9 - Recapture Agreement			10	%		5	%		35	%	28 bps			12.5	%
	MSR Pool 10			11.5	%		N/A	(E)		15	%	12 bps			12.7	%
	MSR Pool 10 - Recapture Agreement			9	%		N/A	(E)		35	%	19 bps			12.7	%
	MSR Pool 11			18.7	%		7.8	%		38.9	%	15 bps			12.5	%
	MSR Pool 11 - Recapture Agreement			10	%		2	%		35	%	19 bps			12.5	%

	(A)		Projected annualized weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector.

	(B)	Projected percentage of mortgage loans in the pool that will miss their mortgage payments.

	(C)	Percentage of voluntarily prepaid loans that are expected to be refinanced by Nationstar.

	(D)	Weighted average total mortgage servicing amount in excess of the basic fee.

	(E)	The Excess MSR will be paid on the total UPB of the mortgage portfolio (including both performing and delinquent loans until REO).
Schedule of Excess MSRs valued on a recurring basis using Level 3 inputs	'
	Excess MSRs, owned directly, measured at fair value on a recurring basis using Level 3 inputs changed during the nine months ended September 30, 2013 as follows:

			Level 3 (A)
			MSR Pool 1			MSR Pool 2			MSR Pool 3			MSR Pool 4				MSR Pool 5			MSR Pool 11		MSR Pool 12		Total
	Balance at December 31, 2012		$	40,910		$	39,322		$	35,434		$	15,036			$	114,334		$	—	$	—	$	245,036
	Transfers (B)																							—
	Transfers from Level 3 (B)			—			—			—			—				—			—		—		—
	Transfers to Level 3 (B)			—			—			—			—				—			—		—		—
	Gains (losses) included in net income (C)			6,807			7,509			7,657			3,644				18,208			—		74		43,899
	Interest income			5,097			3,739			4,892			2,034				14,728			—		51		30,541
	Purchases, sales and repayments																							—
	Purchases			—			—			—			—				26,637			2,391		17,393		46,421
	Purchase adjustments			—			—			—			—				—			—		—		—
	Proceeds from sales			—			—			—			—				—			—		—		—
	Proceeds from repayments			(10,278	)		(9,096	)		(8,689	)		(3,525	)			(26,741	)		—		—		(58,329	)
	Balance at September 30, 2013		$	42,536		$	41,474		$	39,294		$	17,189			$	147,166		$	2,391	$	17,518	$	307,568

	(A)	Includes the Recapture Agreement for each respective pool.

	(B)	Transfers are assumed to occur at the beginning of the respective period.

	(C)	The gains (losses) recorded in earnings during the period are attributable to the change in unrealized gains (losses) relating to Level 3 assets still held at the reporting dates. These gains (losses) represent the change in fair value of the Excess MSRs and are recorded in “Change in fair value of investments in excess mortgage servicing rights” in the consolidated statements of income.
Schedule of investments in equity method investees valued on a recurring basis using Level 3 inputs	'
	New Residential’s investments in equity method investees measured at fair value on a recurring basis using Level 3 inputs changed during the nine months ended September 30, 2013 as follows:



			Nine Months Ended
			September 30, 2013
	Balance at December 31, 2012		$	—
	Contributions to equity method investees			351,937
	Distributions of earnings from equity method investees			(18,626	)
	Distributions of capital from equity method investees			(17,020	)
	Change in fair value of investments in equity method investees			41,741
	Balance at September 30, 2013		$	358,032
Schedule of real estate securities valuation methodology and results	'
	As of September 30, 2013, New Residential’s securities valuation methodology and results are further detailed as follows:

									Fair Value
	Asset Type		Outstanding Face Amount			Amortized Cost Basis			Multiple Quotes (A)			Total				Level

	Agency ARM RMBS		$	1,203,293		$	1,285,532		$	1,279,450		$	1,279,450				2
	Non-Agency RMBS			851,504			559,980			581,750			581,750				3

	Total		$	2,054,797		$	1,845,512		$	1,861,200		$	1,861,200

	(A)	Management generally obtained pricing service quotations or broker quotations from two sources, one of which was generally the seller (the party that sold New Residential the security) for Non-Agency RMBS. Management selected one of the quotes received as being most representative of the fair value and did not use an average of the quotes. Even if New Residential receives two or more quotes on a particular security that come from non-selling brokers or pricing services, it does not use an average because management believes using an actual quote more closely represents a transactable price for the security than an average level. Furthermore, in some cases there is a wide disparity between the quotes New Residential receives. Management believes using an average of the quotes in these cases would not represent the fair value of the asset. Based on New Residential’s own fair value analysis, management selects one of the quotes which is believed to more accurately reflect fair value. New Residential never adjusts quotes received. These quotations are generally received via email and contain disclaimers which state that they are “indicative” and not “actionable” — meaning that the party giving the quotation is not bound to actually purchase the security at the quoted price.

Schedule of non-agency RMBS valued on a recurring basis using Level 3 inputs	'
	Fair value estimates of New Residential’s Non-Agency RMBS were based on third party indications as of September 30, 2013 and classified as Level 3. Securities measured at fair value on a recurring basis using Level 3 inputs changed during the nine months ended September 30, 2013 as follows:

			Level 3
			Non-Agency
			RMBS

	Balance at December 31, 2012		$	289,756
	Transfer (A)
	Transfers from Level 3			—
	Transfers into Level 3			—

	Total gains (losses)
	Included in net income as impairment			(729	)
	Gain on settlement of securities			11,271
	Included in comprehensive income (B)			6,501

	Amortization included in interest income			16,286
	Purchases, sales and repayments
	Purchases			450,144
	Sales			(123,130	)
	Proceeds from repayments			(68,349	)

	Balance at September 30, 2013		$	581,750

	(A)	Transfers are assumed to occur at the beginning of the respective period.

	(B)	These gains (losses) were included in net unrealized gain (loss) on securities in the consolidated statements of comprehensive income.
Schedule of Inputs used in valuing reverse mortgage loans	'
	The following table summarizes the inputs used in valuing reverse mortgage loans as of September 30, 2013:

	Reverse Mortgage Loans for Which Fair Value is Only Disclosed

																Significant Inputs
	Loan Type		Outstanding Face Amount (A)			Carrying Value (A)			Fair Value			Valuation Allowance/ (Reversal) In Current Year				Discount Rate			Weighted Average Life (Years) (B)

	Reverse Mortgage Loans		$	56,738		$	33,060		$	33,162		$	—				10.3	%		3.8

	(A)	Represents a 70% interest New Residential holds in the reverse mortgage loans.

	(B)	The weighted average life is based on the expected timing of the receipt of cash flows.

EQUITY_AND_EARNINGS_PER_SHARE_

EQUITY AND EARNINGS PER SHARE (Tables)	9 Months Ended
EQUITY AND EARNINGS PER SHARE (Tables)	Sep. 30, 2013
Equity And Earnings Per Share Tables	'
Schedule of outstanding options	'
	New Residential’s outstanding options at September 30, 2013 consisted of the following:

		Number of Options		Strike Price		Maturity Date
			304,604		12.28	12/1/13
			328,350		14.17	1/9/14
			343,275		13.86	5/25/14
			162,500		16.95	11/22/14
			330,000		15.97	1/12/15
			2,000		16.68	8/1/15
			170,000		15.87	11/1/16
			242,000		16.9	1/23/17
			456,000		14.96	4/11/17
			1,580,166		3.29	3/29/21
			2,424,833		2.49	9/27/21
			2,000		2.74	12/20/21
			1,867,167		3.41	4/3/21
			2,265,000		3.67	5/21/22
			2,499,167		3.67	7/31/22
			5,750,000		5.12	1/11/23
			2,300,000		5.74	2/15/23
			8,000		6.79	6/2/23
	Total/Weighted Average		21,035,062	$	5.35

	As of September 30, 2013, New Residential’s outstanding options were summarized as follows:

	Held by the Manager		17,893,795
	Issued to the Manager and subsequently transferred to certain of the Manager’s employees		3,129,267
	Issued to the independent directors		12,000
	Total		21,035,062

TRANSACTIONS_WITH_AFFILIATES_A1

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2013
Transactions With Affiliates And Affiliated Entities Tables	'
Schedule of due to affiliate	'
	Due to affiliate is comprised of the following amounts:

		30-Sep-13		31-Dec-12
	Management fees	$	1,495	$	3,392
	Incentive compensation		5,348		—
	Expense reimbursements		266		—
	Purchase price payable		—		1,744
		$	7,109	$	5,136

RECLASSIFICATION_FROM_ACCUMULA1

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME (Tables)	9 Months Ended
	Sep. 30, 2013
Reclassification From Accumulated Other Comprehensive Income Into Net Income Tables	'
Schedule of reclassification from accumulated other comprehensive income into net income	'
	The following table summarizes the amounts reclassified out of accumulated other comprehensive income into net income:

	Accumulated Other Comprehensive	Statement of Income Location	Three Months Ended September 30, 2013			Nine Months Ended September 30, 2013
	Income Components
	Reclassification of net realized (gain) loss on securities into earnings	Gain on settlement of securities	$	(11,213	)	$	(11,271	)
	Reclassification of net realized (gain) loss on securities into earnings	Other-than-temporary impairment on securities		—			3,756
	Total reclassifications		$	(11,213	)	$	(7,515	)

GENERAL_Details_Narrative

GENERAL (Details Narrative)	Sep. 30, 2013
GENERAL (Details Narrative)	Pools
General Details Narrative	'
Number of mortgage pools where the company has excess mortgage servicing rights pools directly or indirectly	12
REIT Distribution Threshold for Nontaxation	90.00%
Management fee rate (percent)	1.50%

SEGMENT_REPORTING_Details

SEGMENT REPORTING (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Dec. 31, 2011
Interest income	$21,885	$12,295	$61,075	$18,811	'	'
Interest expense	3,443	298	6,993	298	'	'
Net interest income	18,442	11,997	54,082	18,513	'	'
Impairment	'	'	3,756	'	'	'
Other income	56,195	1,774	157,204	6,513	'	'
Other operating expenses	11,492	2,003	22,088	4,096	'	'
Net income (loss)	63,145	11,768	185,442	20,930	'	'
Investments	2,752,358	'	2,752,358	'	'	'
Cash and cash equivalents	172,203	'	172,203	'	'	'
Other assets	7,283	'	7,283	'	84	'
Total assets	2,931,844	'	2,931,844	'	534,876	'
Debt	1,467,934	'	1,467,934	'	150,922	'
Other liabilities	202,874	'	202,874	'	'	'
Total liabilities	1,670,808	'	1,670,808	'	156,520	'
GAAP book value	1,261,036	'	1,261,036	'	'	'
Investments in equity method investees at fair value	550,530	'	550,530	'	'	'
Excess MSRs	'	'	'	'	'	'
Interest income	9,761	9,903	30,541	16,419	'	'
Interest expense	'	'	'	'	'	'
Net interest income	9,761	9,903	30,541	16,419	'	'
Impairment	'	'	'	'	'	'
Other income	20,853	1,774	85,640	6,513	'	'
Other operating expenses	82	994	178	2,141	'	'
Net income (loss)	30,532	10,683	116,003	20,791	'	'
Investments	665,600	'	665,600	'	'	'
Cash and cash equivalents	'	'	'	'	'	'
Other assets	'	'	'	'	'	'
Total assets	665,600	'	665,600	'	'	'
Debt	'	'	'	'	'	'
Other liabilities	82	'	82	'	'	'
Total liabilities	82	'	82	'	'	'
GAAP book value	665,518	'	665,518	'	'	'
Investments in equity method investees at fair value	358,032	'	358,032	'	'	'
Real Estate Securities and Loans	'	'	'	'	'	'
Interest income	12,120	2,392	30,492	2,392	'	'
Interest expense	3,443	298	6,993	298	'	'
Net interest income	8,677	2,094	23,499	2,094	'	'
Impairment	'	'	3,756	'	'	'
Other income	11,213	'	11,271	'	'	'
Other operating expenses	104	'	256	'	'	'
Net income (loss)	19,786	2,094	30,758	2,094	'	'
Investments	1,894,260	'	1,894,260	'	'	'
Cash and cash equivalents	'	'	'	'	'	'
Other assets	6,563	'	6,563	'	'	'
Total assets	1,900,823	'	1,900,823	'	'	'
Debt	1,467,934	'	1,467,934	'	'	'
Other liabilities	149,352	'	149,352	'	'	'
Total liabilities	1,617,286	'	1,617,286	'	'	'
GAAP book value	283,537	'	283,537	'	'	'
Investments in equity method investees at fair value	'	'	'	'	'	'
Consumer Loans	'	'	'	'	'	'
Interest income	'	'	'	'	'	'
Interest expense	'	'	'	'	'	'
Net interest income	'	'	'	'	'	'
Impairment	'	'	'	'	'	'
Other income	24,129	'	60,293	'	'	'
Other operating expenses	1	'	1,952	'	'	'
Net income (loss)	24,128	'	58,341	'	'	'
Investments	192,498	'	192,498	'	'	'
Cash and cash equivalents	'	'	'	'	'	'
Other assets	'	'	'	'	'	'
Total assets	192,498	'	192,498	'	'	'
Debt	'	'	'	'	'	'
Other liabilities	'	'	'	'	'	'
Total liabilities	'	'	'	'	'	'
GAAP book value	192,498	'	192,498	'	'	'
Investments in equity method investees at fair value	192,498	'	192,498	'	'	'
Corporate	'	'	'	'	'	'
Interest income	4	'	42	'	'	'
Interest expense	'	'	'	'	'	'
Net interest income	4	'	42	'	'	'
Impairment	'	'	'	'	'	'
Other income	'	'	'	'	'	'
Other operating expenses	11,305	1,009	19,702	1,955	'	'
Net income (loss)	-11,301	-1,009	-19,660	-1,955	'	'
Investments	'	'	'	'	'	'
Cash and cash equivalents	172,203	'	172,203	'	'	'
Other assets	720	'	720	'	'	'
Total assets	172,923	'	172,923	'	'	'
Debt	'	'	'	'	'	'
Other liabilities	53,440	'	53,440	'	'	'
Total liabilities	53,440	'	53,440	'	'	'
GAAP book value	119,483	'	119,483	'	'	'
Investments in equity method investees at fair value	'	'	'	'	'	'

INVESTMENTS_IN_EXCESS_MORTGAGE4

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS AT FAIR VALUE - DIRECT INVESTMENTS (Details) (USD $)

3 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Dec. 13, 2011

Sep. 30, 2013

Jun. 05, 2012

Sep. 30, 2013

Sep. 23, 2013

Sep. 30, 2013

MSRs Pool 1

MSR Pool 1 Recapture Agreement

MSRs Pool 2

MSR Pool 2 Recapture Agreement

MSRs Pool 3

MSR Pool 3 Recapture Agreement

MSRs Pool 4

MSR Pool 4 Recapture Agreement

MSRs Pool 5

MSR Pool 5 Recapture Agreement

MSR Pool 11 Recapture Agreement

MSRs Pool 12

MSR Pool 12 Recapture Agreement

MSRs

Unpaid principal balance of underlying loans

$7,171,426

$8,217,751

$8,066,890

$5,222,892

$38,315,786

$5,321,060

$72,315,805

Interest in Excess MSR

65.00%

80.00%

66.70%

40.00%

Amortized Cost Basis

27,255

[1]

2,230

[1]

30,806

[1]

1,934

[1]

25,250

[1]

3,608

[1]

10,032

[1]

2,509

[1]

121,544

[1]

9,277

[1]

2,391

[1]

16,963

[1]

479

[1]

254,278

[1]

Carrying Value

37,907

[2]

4,629

[2]

35,592

[2]

5,882

[2]

34,063

[2]

5,231

[2]

13,743

[2]

3,446

[2]

142,387

[2]

4,779

[2]

2,391

[2]

17,032

[2]

486

[2]

307,568

[2]

Weighted average yield

2.48%

[3]

12.50%

12.70%

12.50%

16.40%

12.90%

Weighted average life (years)

'3 years 6 months

[3],[4]

'4 years 10 months 24 days

[5]

'11 years 3 months 18 days

[5]

'5 years 2 months 12 days

[5]

'12 years 3 months 18 days

[5]

'4 years 9 months 18 days

[5]

'11 years 7 months 6 days

[5]

'5 years 2 months 12 days

[5]

'11 years 7 months 6 days

[5]

'5 years 4 months 24 days

[5]

'12 years 6 months

[5]

'10 years 2 months 12 days

[5]

'4 years 7 months 6 days

[5]

'13 years 7 months 6 days

[5]

'5 years 9 months 18 days

[5]

Change in fair value of investments recorded in other income

$208

$1,774

$43,899

$6,513

$4,914

[6]

$1,893

[6]

$3,742

[6]

$3,767

[6]

$5,958

[6]

$1,699

[6]

$2,693

[6]

$951

[6]

$18,864

[6]

($656)

[6]

$69

[6]

$43,899

[6]

[1]

(A) The amortized cost basis of the Recapture Agreements is determined based on the relative fair values of the Recapture Agreements and related Excess MSRs at the time they were acquired.

[2]

(B) Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.

[3]

(G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.

[4]

[5]

(C) Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.

[6]

(D) The portion of the change in fair value of the Recapture Agreements relating to loans recaptured to date is reflected in the respective pool.

INVESTMENTS_IN_EXCESS_MORTGAGE5

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS AT FAIR VALUE - GEOGRAPHIC DISTRIBUTION (Details 1) (MSRs)	Sep. 30, 2013
Total outstanding (percent)	100.00%
California	'
Total outstanding (percent)	30.30%
Florida	'
Total outstanding (percent)	10.10%
New York	'
Total outstanding (percent)	4.70%
Texas	'
Total outstanding (percent)	4.20%
Washington	'
Total outstanding (percent)	4.10%
Arizona	'
Total outstanding (percent)	3.70%
Maryland	'
Total outstanding (percent)	3.60%
Colorado	'
Total outstanding (percent)	3.30%
New Jersey	'
Total outstanding (percent)	3.30%
Virginia	'
Total outstanding (percent)	3.10%
Other US Locations	'
Total outstanding (percent)	29.60%

INVESTMENTS_IN_EXCESS_MORTGAGE6

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS AT FAIR VALUE (Details Narrative) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Dec. 13, 2011	Sep. 30, 2013	Jun. 05, 2012	Sep. 30, 2013	Jun. 29, 2012	Sep. 30, 2013	20-May-13	Sep. 23, 2013	Sep. 30, 2013
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012	MSRs Pool 1	MSRs Pool 1	MSRs Pool 2	MSRs Pool 2	MSR Pools 3, 4 and 5	MSRs Pool 5	MSRs Pool 11	MSRs Pool 12	MSRs Pool 12
Percentage of Investment co-owned by Nationstar	'	'	35.00%	'	35.00%	'	35.00%	'	'	20.00%	'
Percentage of Investment owned by New Residential	'	'	65.00%	65.00%	65.00%	65.00%	65.00%	80.00%	66.70%	40.00%	40.00%
Amount invested	'	'	$43,700	'	$42,300	'	$176,500	$26,600	$2,400	$17,400	'
Non-conforming loans in private label securitizations of portfolio (percent)	'	'	'	'	'	'	75.00%	'	'	'	'
Conforming loans in GSE pools of portfolio (percent)	'	'	'	'	'	'	25.00%	'	'	'	'
Repurchase agreements	$1,467,934	$150,922	'	'	'	'	'	'	'	'	'
Additional percentage of investment purchased by New Residential	'	'	'	'	'	'	'	15.00%	33.30%	'	'
Percentage of Investment owned by Fortress-managed (affiliated funds)	'	'	'	'	'	'	'	'	'	40.00%	'

INVESTMENTS_IN_REAL_ESTATE_SEC2

INVESTMENTS IN REAL ESTATE SECURITIES - AVAILABLE FOR SALE (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012
	Integer		Dec. 31, 2012
Outstanding face amount	$2,054,797	[1]	'
Amortized cost basis	1,845,512	[1]	'
Gains - gross unrealized	29,569	[1]	'
Losses - gross unrealized	-13,881	[1]	'
Carrying value	1,861,200	[1],[2]	289,756
Number of securities	190	[1]	'
Weighted average rating	'BBB	[1],[3]	'
Weighted average coupon	2.48%	[1]	'
Weighted average yield	2.48%	[1]	'
Weighted average life (years)	'3 years 6 months	[1],[4]	'
Agency RMBS	'		'
Outstanding face amount	1,203,293	[5],[6]	'
Amortized cost basis	1,285,532	[5],[6]	'
Gains - gross unrealized	1,480	[5],[6]	'
Losses - gross unrealized	-7,562	[5],[6]	'
Carrying value	1,279,450	[2],[5],[6]	'
Number of securities	95	[5],[6]	'
Weighted average rating	'AAA	[3],[5],[6]	'
Weighted average coupon	3.15%	[5],[6]	'
Weighted average yield	1.30%	[5],[6]	'
Weighted average life (years)	'3 years	[4],[5],[6]	'
Non-Agency RMBS	'		'
Outstanding face amount	851,504		'
Amortized cost basis	559,980		'
Gains - gross unrealized	28,089		'
Losses - gross unrealized	-6,319		'
Carrying value	$581,750	[2]	'
Number of securities	95		'
Weighted average rating	'CC	[3]	'
Weighted average coupon	0.82%		'
Weighted average yield	5.20%		'
Weighted average life (years)	'4 years 2 months 12 days	[4]	'
Principal Subordination - Weighted Average	9.10%	[7]	'

[1]	(G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.
[2]	(A) Fair value, which is equal to carrying value for all securities. See Note 9 regarding the estimation of fair value.
[3]	(B) Represents the weighted average of the ratings of all securities in each asset type, expressed as an S&P equivalent rating. For each security rated by multiple rating agencies, the lowest rating is used. Ratings provided were determined by third party rating agencies, and represent the most recent credit ratings available as of the reporting date and may not be current.
[4]	(C) The weighted average life is based on the timing of expected principal reduction on the assets.
[5]	(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").
[6]	(F) Amortized cost basis and carrying value include principal receivable of $10.7 million.
[7]	(D) Percentage of the outstanding face amount of securities and residual interests that is subordinate to New Residential's investments.

INVESTMENTS_IN_REAL_ESTATE_SEC3

INVESTMENTS IN REAL ESTATE SECURITIES - UNREALIZED LOSS POSITION (Details 1) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Outstanding face amount	$2,054,797	[1]
Amortized cost basis	1,845,512	[1]
Weighted average rating	'BBB	[1],[2]
Weighted average coupon	2.48%	[1]
Weighted average yield	2.48%	[1]
Weighted average life (years)	'3 years 6 months	[1],[3]
Securities in an Unrealized Loss Position Less than Twelve Months	'
Outstanding face amount	1,015,349
Before Impairment - Amortized Cost Basis	995,953
Other Than Temporary Impairment - Amortized Cost Basis	-2,653	[4]
Amortized cost basis	993,300
Gross unrealized losses - less than twelve months	-13,676
Carrying value - less than twelve months	979,624
Number of securities	85
Weighted average rating	'A
Weighted average coupon	2.72%
Weighted average yield	2.00%
Weighted average life (years)	'3 years 2 months 12 days
Securities in an Unrealized Loss Position Greater than Twelve Months	'
Outstanding face amount	30,939
Before Impairment - Amortized Cost Basis	33,451
Other Than Temporary Impairment - Amortized Cost Basis	-411	[4]
Amortized cost basis	33,040
Gross unrealized losses - twelve months or more	-205
Carrying value - twelve months or more	32,835
Number of securities	4
Weighted average rating	'AAA
Weighted average coupon	3.50%
Weighted average yield	1.28%
Weighted average life (years)	'2 years 7 months 6 days
Securities in a Loss Position	'
Outstanding face amount	1,046,288
Before Impairment - Amortized Cost Basis	1,029,404
Other Than Temporary Impairment - Amortized Cost Basis	-3,064	[4]
Amortized cost basis	1,026,340
Total gross unrealized losses	-13,881
Total fair value	$1,012,459
Number of securities	89
Weighted average rating	'A
Weighted average coupon	2.74%
Weighted average yield	1.98%
Weighted average life (years)	'3 years 2 months 12 days

[1]	(G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.
[2]	(B) Represents the weighted average of the ratings of all securities in each asset type, expressed as an S&P equivalent rating. For each security rated by multiple rating agencies, the lowest rating is used. Ratings provided were determined by third party rating agencies, and represent the most recent credit ratings available as of the reporting date and may not be current.
[3]	(C) The weighted average life is based on the timing of expected principal reduction on the assets.
[4]	(A) Other than temporary impairment was recorded in connection with unrealized losses at the time of spin-off as Newcastle did not have the intent and ability to hold the securities past May 15, 2013. The losses were not recorded as the result of New Residential's intent to sell the securities and are not the result of credit impairment.

INVESTMENTS_IN_REAL_ESTATE_SEC4

INVESTMENTS IN REAL ESTATE SECURITIES - GEOGRAPHIC DISTRIBUTION COLLATERAL (Details 2) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified	Sep. 30, 2013
Principal balance	$2,054,797	[1]
Non-Agency RMBS	'
Principal balance	851,504
Percentage of principal balance	100.00%
Non-Agency RMBS \| Western US	'
Principal balance	344,107
Percentage of principal balance	40.40%
Non-Agency RMBS \| Southeastern US	'
Principal balance	195,278
Percentage of principal balance	22.90%
Non-Agency RMBS \| Northeastern US	'
Principal balance	165,401
Percentage of principal balance	19.40%
Non-Agency RMBS \| Midwestern US	'
Principal balance	99,404
Percentage of principal balance	11.70%
Non-Agency RMBS \| Southwestern US	'
Principal balance	$47,314
Percentage of principal balance	5.60%

[1]	(G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.

INVESTMENTS_IN_REAL_ESTATE_SEC5

INVESTMENTS IN REAL ESTATE SECURITIES - CREDIT QUALITY (Details 3) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Investments In Real Estate Securities - Credit Quality Details 3	'	'
Real estate securities acquired with credit quality deterioration, face amount	$726,930	$342,013
Real estate securities acquired with credit quality deterioration, carrying value	$476,570	$212,129

INVESTMENTS_IN_REAL_ESTATE_SEC6

INVESTMENTS IN REAL ESTATE SECURITIES - CHANGES IN ACCRETABLE YIELDS (Details 4) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Investments In Real Estate Securities - Changes In Accretable Yields Details 4	'
Balance, beginning	$90,077
Additions	87,756
Accretion	-14,797
Reclassifications from non-accretable difference	38,662
Disposals	-18,672
Balance, ending	$183,026

INVESTMENTS_IN_REAL_ESTATE_SEC7

INVESTMENTS IN REAL ESTATE SECURITIES (Details Narrative) (USD $)

3 Months Ended

9 Months Ended

1 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Nov. 07, 2013

Sep. 30, 2013

Jun. 27, 2013

Sep. 30, 2013

Non-Agency RMBS

Agency RMBS

Non-Agency RMBS Under Clean-Up Option

Fixed Rate Securities

Floating Rate Securities

Face amount of securities purchased

$194,300

$661,200

$22,700

$413,200

Purchase of Non-Agency RMBS

-202,484

450,000

Purchase of Agency ARM RMBS

-292,980

126,600

1,200

437,300

Agency RMBS contributed from Newcastle, face amount

1,000,000

Face amount of securities sold

52,500

153,500

Proceeds from sale of real estate securities

123,130

38,100

123,100

Gain on sale of real estate securities

6,600

11,300

Face amount of securities paid down

2,600

Carrying value of securities paid down

2,100

Interest Income recognized on securities paid down

600

RMBS principal receivable

10,700

Outstanding face amount

2,054,797

[1]

2,054,797

[1]

851,504

1,203,293

[2],[3]

16,400

2,000,000

Other-than-temporary impairment ("OTTI") on securities

3,756

Real estate securities acquired during the period with credit quality deterioration, face amount

549,400

Real estate securities acquired during the period with credit quality deterioration, fair value

354,400

Real estate securities acquired during the period with credit quality deterioration, expected cash flows

$442,200

[1]

(G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 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 $10.7 million.

INVESTMENT_IN_RESIDENTIAL_MORT2

INVESTMENT IN RESIDENTIAL MORTGAGE LOANS - RESIDENTIAL MORTGAGE LOANS (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	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.

INVESTMENT_IN_RESIDENTIAL_MORT3

INVESTMENT IN RESIDENTIAL MORTGAGE LOANS - ACTIVITIES OF RESIDENTIAL MORTGAGE LOANS (Details 1) (Reverse Mortgage Loans, USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Reverse Mortgage Loans	'
Balance, beginning	'
Purchases / additional fundings	35,138
Proceeds from repayments	-3,945
Accretion of loan discount and other amortization	1,867
Balance, ending	$33,060

INVESTMENT_IN_RESIDENTIAL_MORT4

INVESTMENT IN RESIDENTIAL MORTGAGE LOANS (Details Narrative) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Feb. 27, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012	Reverse Mortgage Loans	Reverse Mortgage Loans
Percentage of Investment co-owned by Nationstar	'	'	30.00%	'
Percentage of Investment owned by New Residential	'	'	70.00%	'
Unpaid principal balance of underlying reverse mortgage loans	'	'	'	$83,000
Residential mortgage loans, held-for-investment	$33,060	'	$35,000	'

INVESTMENTS_IN_EXCESS_MORTGAGE7

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS EQUITY METHOD INVESTEES - SUMMARY OF INVESTMENTS (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012	Excess Mortgage Servicing Rights Investees
Summarized financial information:	'	'	'
Excess MSR Assets	'	'	$719,780
Other Assets	'	'	1,991
Debt	'	'	'
Other Liabilities	'	'	-5,707
Equity	'	'	716,064
Investments in equity method investees at fair value	358,032	'	358,032
Ownership percentage in equity method investees	'	'	50.00%
Interest income	'	'	30,501
Other income (loss)	'	'	56,483
Expenses	'	'	-3,502
Net income	'	'	$83,482

INVESTMENTS_IN_EXCESS_MORTGAGE8

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS EQUITY METHOD INVESTEES - EXCESS MSR INVESTMENTS (Details 1) (USD $)

9 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2013

Jan. 04, 2013

Sep. 30, 2013

20-May-13

Sep. 30, 2013

MSR Pool 11 Recapture Agreement

MSRs

Excess Mortgage Servicing Rights Investees

MSRs Pool 6

MSR Pool 6 Recapture Agreement

MSRs Pool 7

MSR Pool 7 Recapture Agreement

MSRs Pool 8

MSR Pool 8 Recapture Agreement

MSRs Pool 9

MSR Pool 9 Recapture Agreement

MSRs Pool 10

MSR Pool 10 Recapture Agreement

MSRs Pool 11

MSR Pool 11 Recapture Agreement

MSRs

Unpaid principal balance of underlying loans

$72,315,805

$10,585,764

$33,239,259

$14,798,521

$32,068,608

$59,784,115

$19,380,729

$169,856,996

Investee Interest in Excess MSR

66.70%

77.00%

66.70%

Ownership percentage in equity method investees

50.00%

Amortized Cost Basis

2,391

[1]

254,278

[1]

37,957

[2]

9,653

[2]

101,125

[2]

20,031

[2]

56,457

[2]

10,069

[2]

106,141

[2]

36,107

[2]

202,417

[2]

12,793

[2]

47,108

[2]

23,442

[2]

663,300

[2]

Carrying Value

$2,391

[3]

$307,568

[3]

$43,908

[4]

$12,295

[4]

$111,962

[4]

$23,785

[4]

$58,936

[4]

$12,926

[4]

$120,603

[4]

$45,811

[4]

$201,571

[4]

$11,343

[4]

$53,981

[4]

$22,659

[4]

$719,780

[4]

Weighted average yield

2.48%

[5]

12.50%

12.90%

12.50%

12.70%

12.50%

12.60%

Weighted average life (years)

'3 years 6 months

[5],[6]

'10 years 2 months 12 days

[7]

'5 years 9 months 18 days

[7]

'4 years 7 months 6 days

[8]

'10 years 10 months 24 days

[8]

'5 years

[8]

'12 years

[8]

'4 years 9 months 18 days

[8]

'11 years 10 months 24 days

[8]

'4 years 9 months 18 days

[8]

'11 years

[8]

'5 years 7 months 6 days

[8]

'12 years 10 months 24 days

[8]

'5 years 3 months 18 days

[8]

'10 years 2 months 12 days

[8]

'6 years 2 months 12 days

[8]

[1]

(A) The amortized cost basis of the Recapture Agreements is determined based on the relative fair values of the Recapture Agreements and related Excess MSRs at the time they were acquired.

[2]

(A) Represents the amortized cost basis of the equity method investees in which New Residential holds a 50% interest. The amortized cost basis of the Recapture Agreements is determined based on the relative fair values of the Recapture Agreements and related Excess MSRs at the time they were acquired.

[3]

(B) Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.

[4]

(B) Represents the carrying value of the Excess MSRs held in equity method investees, in which New Residential holds a 50% interest. Carrying value represents the fair value of the pools or Recapture Agreements, as applicable

[5]

(G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.

[6]

[7]

(C) Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.

[8]

(C) The weighted average life represents the weighted average expected timing of the receipt of cash flows of each investment.

INVESTMENTS_IN_EXCESS_MORTGAGE9

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS EQUITY METHOD INVESTEES - GEOGRAPHIC DISTRIBUTION (Details 2) (Excess Mortgage Servicing Rights Investees)	Sep. 30, 2013
Total outstanding (percent)	100.00%
California	'
Total outstanding (percent)	22.10%
Florida	'
Total outstanding (percent)	8.80%
New York	'
Total outstanding (percent)	5.30%
Texas	'
Total outstanding (percent)	5.20%
Georgia	'
Total outstanding (percent)	4.20%
New Jersey	'
Total outstanding (percent)	3.80%
Illinois	'
Total outstanding (percent)	3.50%
Virginia	'
Total outstanding (percent)	3.10%
Maryland	'
Total outstanding (percent)	3.10%
Washington	'
Total outstanding (percent)	2.90%
Other US Locations	'
Total outstanding (percent)	38.00%

Recovered_Sheet1

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS EQUITY METHOD INVESTEES (Details Narrative) (USD $)

9 Months Ended

0 Months Ended

1 Months Ended

3 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2013

Nov. 07, 2013

20-May-13

Sep. 30, 2013

Jan. 04, 2013

Sep. 30, 2013

Jan. 06, 2013

Sep. 30, 2013

Mar. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Sep. 30, 2013

20-May-13

MSRs Pool 10

MSRs Pool 11

Excess Mortgage Servicing Rights Investees

MSRs Pool 6

MSR Pools 7, 8, 9, 10

MSRs Pool 10

MSR Pools 7, 9 and 10

MSRs Pool 8

MSRs Pool 7

MSRs Pool 9

MSR Pools 7 and 10

MSRs Pool 11

Fortress-managed Affiliate

Amount contributed to acquire joint venture

$285,200

$28,900

Amount committed to invest in joint venture

340,000

4,100

1,000

37,800

Percentage ownership acquired in joint venture

50.00%

Percentage of Investment co-owned by Nationstar

33.00%

Percentage of Investment owned by New Residential

66.70%

67.00%

Loans in private label securitizations portfolio (percent)

53.00%

Amount invested

2,400

13,900

45,500

35,200

31,500

65,400

107,600

Increase in outstanding principal balance after new investments

$1,300,000

$10,100,000

Additional percentage interest acquired by New Residential

5.00%

INVESTMENTS_IN_CONSUMER_LOAN_E2

INVESTMENTS IN CONSUMER LOAN EQUITY METHOD INVESTEES - SUMMARY OF INVESTMENTS (Details) (USD $)	3 Months Ended		9 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Sep. 30, 2013		Apr. 02, 2013	Dec. 31, 2012
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Consumer Loan Investees		Consumer Loan Investees	Consumer Loan Investees
Summarized financial information:	'	'	'	'	'	'		'	'
Consumer Loan Assets	'	'	'	'	'	$2,692,642		'	'
Other Assets	'	'	'	'	'	90,103		'	'
Debt	'	'	'	'	'	-2,137,531	[1]	'	'
Other Liabilities	'	'	'	'	'	-3,554		'	'
Equity	'	'	'	'	'	641,660		'	'
Investment in consumer loan equity method investees	192,498	'	192,498	'	'	192,498		'	'
Ownership percentage in equity method investees	'	'	'	'	'	30.00%		30.00%	'
Interest income	'	'	'	'	'	325,822		'	'
Other income (loss)	'	'	'	'	'	-47,010		'	'
Provision for finance receivable losses	'	'	'	'	'	-31,122		'	'
Other expenses	'	'	'	'	'	-46,713		'	'
Net income	'	'	'	'	'	200,977		'	'
New Residential's equity in net income	$24,129	'	$60,293	'	'	$60,293		'	'

[1]	(A) Represents the Class A asset-backed notes with a face amount of $1.8 billion, an interest rate of 3.75% and a maturity of April 2021 and the Class B asset-backed notes with a face amount of $372.0 million, an interest rate of 4% and a maturity of December 2024. Substantially all of the net cash flow generated by the Consumer Loan Companies is required to be used to pay down the Class A notes. When the balance of the outstanding Class A notes is reduced to 50% of the outstanding UPB of the performing consumer loans, 70% of the net cash flow generated is required to be used to pay down the Class A notes and the equity holders of the Consumer Loan Companies and holders of the Class B notes will each be entitled to receive 15% of the net cash flow of the Consumer Loan Companies on a periodic basis.

INVESTMENTS_IN_CONSUMER_LOAN_E3

INVESTMENTS IN CONSUMER LOAN EQUITY METHOD INVESTEES - CONSUMER LOANS (Details 1) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013		Apr. 02, 2013
Weighted average coupon	2.48%	[1]	'
Weighted Average Yield	2.48%	[1]	'
Weighted average life (years)	'3 years 6 months	[1],[2]	'
Consumer Loan Investees	'		'
Unpaid principal balance of underlying loans	$3,490,345		$4,200,000
Ownership percentage in equity method investees	30.00%		30.00%
Carrying value	$2,692,642	[3]	'
Weighted average coupon	18.30%	[4]	'
Weighted Average Yield	15.50%		'
Weighted average life (years)	'3 years 7 months 6 days	[5]	'

[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 the carrying value of the consumer loans held by the Consumer Loan Companies.
[4]	(B) Substantially all of the cash flow received on the loans is required to be used to make payments on the notes described above.
[5]	(C) Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.

INVESTMENTS_IN_CONSUMER_LOAN_E4

INVESTMENTS IN CONSUMER LOAN EQUITY METHOD INVESTEES - ROLLFORWARD (Details 2) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Investment in consumer loan equity method investees, beginning	'	'	'	'
Distributions of earnings from equity method investees	'	'	23,659	'
Should be distributions of capital / return of capital	'	'	60,293	'
Earnings from investments in consumer loan equity method investees	24,129	'	60,293	'
Investment in consumer loan equity method investees, ending	192,498	'	192,498	'
Consumer Loan Investees	'	'	'	'
Investment in consumer loan equity method investees, beginning	'	'	'	'
Contributions to consumer loan equity method investees	'	'	245,421	'
Distributions of earnings from equity method investees	'	'	-60,293	'
Should be distributions of capital / return of capital	'	'	-52,923	'
Earnings from investments in consumer loan equity method investees	'	'	60,293	'
Investment in consumer loan equity method investees, ending	$192,498	'	$192,498	'

INVESTMENTS_IN_CONSUMER_LOAN_E5

INVESTMENTS IN CONSUMER LOAN EQUITY METHOD INVESTEES (Details Narrative) (USD $)	9 Months Ended			0 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Apr. 02, 2013	Apr. 02, 2013	Apr. 02, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
		Affilate of Blackstone Tactical Opportunities Advisors LLC	Fortress-managed Affiliate	Consumer Loan Investees	Consumer Loan Investees	Consumer Loan Investees	Consumer Loan Investees
				Integer		Class B Asset Backed Notes	Class A Asset Backed Notes
Unpaid principal balance of underlying loans	'	'	'	$4,200,000	$3,490,345	'	'
Number of loans in portfolio	'	'	'	400,000	'	'	'
Acquisitions of investments in consumer loan equity method investees	'	'	'	250,000	'	'	'
Ownership percentage in equity method investees	'	'	'	30.00%	30.00%	'	'
Percentage of portfolio co-invested by other parties	'	23.00%	47.00%	70.00%	'	'	'
Purchase price of portfolio financed by asset-backed notes	'	'	'	2,200,000	'	'	'
Purchase price of portfolio	'	'	'	3,000,000	'	'	'
Interest Rate	'	'	'	'	'	4.00%	3.75%
Percentage of UPB of loans against outstanding debt where cash can be released	'	'	'	'	'	50.00%	50.00%
Additional asset-backed notes issued and sold, face amount	$372,000	'	'	'	'	$372,000	$1,800
Percentage of par at which notes were sold	96.00%	'	'	'	'	'	'
Percentage of cash flows required to be paid against notes when threshold is reached	'	'	'	'	'	15.00%	70.00%

DEBT_OBLIGATIONS_SCHEDULE_OF_D

DEBT OBLIGATIONS - SCHEDULE OF DEBT OBLIGATIONS (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Debt face amount	$372,000
Weighted average life (years)	'3 years 6 months	[1],[2]
Collateral	'
Weighted average life (years)	'3 years 6 months	[3]
Outstanding Face Amount of Collateral	1,896,773	[3]
Amortized Cost Basis of Collateral	1,672,767	[3]
Carrying Value of Collateral	1,689,994	[3]
Agency RMBS Repurchase Agreements	'
Month Issued	'Various	[3],[4],[5]
Debt face amount	1,071,587	[3],[4],[5]
Carrying value	1,071,587	[3],[4],[5]
Final stated maturity	1-Dec-13	[3],[4],[5]
Weighted average funding cost	0.36%	[3],[4],[5]
Weighted average life (years)	'0 years 1 month 6 days	[3],[4],[5]
Agency RMBS Repurchase Agreements \| Collateral	'
Weighted average life (years)	'2 years 10 months 24 days	[3],[4],[5]
Outstanding Face Amount of Collateral	1,067,063	[3],[4],[5]
Amortized Cost Basis of Collateral	1,130,533	[3],[4],[5]
Carrying Value of Collateral	1,124,451	[3],[4],[5]
Non-agency RMBS Repurchase Agreements	'
Month Issued	'Various	[3],[5],[6],[7]
Debt face amount	53,475	[3],[5],[6],[7]
Carrying value	53,475	[3],[5],[6],[7]
Final stated maturity	1-Oct-13	[3],[5],[6],[7]
Weighted average funding cost	1.84%	[3],[5],[6],[7]
Weighted average life (years)	'0 years 1 month 6 days	[3],[5],[6],[7]
Non-agency RMBS Repurchase Agreements \| Collateral	'
Weighted average life (years)	'5 years 3 months 18 days	[3],[5],[6],[7]
Outstanding Face Amount of Collateral	100,411	[3],[5],[6],[7]
Amortized Cost Basis of Collateral	77,108	[3],[5],[6],[7]
Carrying Value of Collateral	75,667	[3],[5],[6],[7]
Non-agency RMBS Term Repurchase Agreements	'
Month Issued	'Aug 2013	[3],[7],[8]
Debt face amount	342,872	[3],[7],[8]
Carrying value	342,872	[3],[7],[8]
Final stated maturity	1-Aug-14	[3],[7],[8]
Weighted average funding cost	2.43%	[3],[7],[8]
Weighted average life (years)	'0 years 9 months 18 days	[3],[7],[8]
Non-agency RMBS Term Repurchase Agreements \| Collateral	'
Weighted average life (years)	'4 years	[3],[7],[8]
Outstanding Face Amount of Collateral	729,299	[3],[7],[8]
Amortized Cost Basis of Collateral	465,126	[3],[7],[8]
Carrying Value of Collateral	489,876	[3],[7],[8]
Total Repurchase Agreements	'
Debt face amount	1,467,934	[3]
Carrying value	$1,467,934	[3]
Weighted average funding cost	0.90%	[3]
Weighted average life (years)	'0 years 3 months 18 days	[3]

[1]	(C) The weighted average life is based on the timing of expected principal reduction on the assets.
[2]	(G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.
[3]	(A) These repurchase agreements had approximately $0.1 million of associated accrued interest payable at September 30, 2013.
[4]	(B) The counterparties of these repurchase agreements are Goldman Sachs $45.9 million, Barclays $287.7 million, Nomura $229.0 million, Citi $133.0 million, Morgan Stanley $97.1 million and Daiwa $278.9 million and were subject to customary margin call provisions.
[5]	(C) All of the repurchase agreements that matured during October 2013 were renewed or refinanced subsequent to September 30, 2013.
[6]	(D) The counterparties of these repurchase agreements are Barclays $21.8 million, and Royal Bank of Canada $31.6 million and were subject to customary margin call provisions.
[7]	(E) All of the Non-Agency repurchase agreements have LIBOR-based floating interest rates.
[8]	(F) Represents a one year term master repurchase agreement with Alpine Securitization Corp., an asset-backed commercial paper facility sponsored by Credit Suisse AG. This repurchase agreement is not subject to margin call provisions and is subject to customary loan covenants and event of default provisions, including event of default provisions triggered by a 50% market capitalization decline provision, as well as a two to one indebtedness to tangible net worth provision. The financing bears interest at LIBOR plus an applicable margin as stated below (See Schedule of maturities of repurchase agreements)

DEBT_OBLIGATIONS_PAYMENT_AND_M

DEBT OBLIGATIONS - PAYMENT AND MARGINS OF REPURCHASE AGREEMENTS (Details 1)	9 Months Ended
	Sep. 30, 2013
Repurchase Agreements Margin 2.25%	'
Monthly Payment Date	'August 2013 through October 2013
Applicable Margin interest rate (above LIBOR)	2.25%
Repurchase Agreements Margin 2.50%	'
Monthly Payment Date	'November 2013 through January 2014
Applicable Margin interest rate (above LIBOR)	2.50%
Repurchase Agreements Margin 3.00%	'
Monthly Payment Date	'February 2014 through April 2014
Applicable Margin interest rate (above LIBOR)	3.00%
Repurchase Agreements Margin 3.50%	'
Monthly Payment Date	'May 2014 through August 2014
Applicable Margin interest rate (above LIBOR)	3.50%

DEBT_OBLIGATIONS_Details_Narra

DEBT OBLIGATIONS (Details Narrative) (USD $)	Oct. 30, 2013	Sep. 30, 2013
In Thousands, unless otherwise specified	Oct. 30, 2013	Sep. 30, 2013
Alpine Securitization Corp.	'	'
Repurchase agreements	$414,200	$342,900
Total Repurchase Agreements	'	'
Interest payable	'	100
Agency RMBS Repurchase Agreements \| Goldman Sachs	'	'
Repurchase agreements	'	45,900
Agency RMBS Repurchase Agreements \| Barclays	'	'
Repurchase agreements	'	287,700
Agency RMBS Repurchase Agreements \| Nomura	'	'
Repurchase agreements	'	229,000
Agency RMBS Repurchase Agreements \| Citi	'	'
Repurchase agreements	'	133,000
Agency RMBS Repurchase Agreements \| Morgan Stanley	'	'
Repurchase agreements	'	97,100
Agency RMBS Repurchase Agreements \| Daiwa	'	'
Repurchase agreements	'	278,900
Non-agency RMBS Repurchase Agreements \| Barclays	'	'
Repurchase agreements	'	21,800
Non-agency RMBS Repurchase Agreements \| Royal Bank of Canada	'	'
Repurchase agreements	'	$31,600

FAIR_VALUE_OF_FINANCIAL_INSTRU2

FAIR VALUE OF FINANCIAL INSTRUMENTS - RECURRING BASIS (Details) (USD $)	Sep. 30, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012
Assets:	'		'
Real estate securities, available-for-sale	$1,861,200	[1],[2]	$289,756
Investments in excess mortgage servicing rights	307,568		245,036
Investments in equity method investees at fair value	358,032		'
Recurring Basis \| Fair Value, Inputs, Level 2	'		'
Assets:	'		'
Real estate securities, available-for-sale	1,279,450		'
Investments in excess mortgage servicing rights	'	[3]	'
Investments in equity method investees at fair value	'		'
[AssetsFairValueDisclosure]	1,279,450		'
Recurring Basis \| Level 3 Inputs	'		'
Assets:	'		'
Real estate securities, available-for-sale	581,750		'
Investments in excess mortgage servicing rights	307,568	[3]	'
Investments in equity method investees at fair value	358,032		'
[AssetsFairValueDisclosure]	1,247,350		'
Recurring Basis \| Principal Balance or Notional Amount	'		'
Assets:	'		'
Real estate securities, available-for-sale	2,054,797		'
Investments in excess mortgage servicing rights	72,315,805	[3]	'
Investments in equity method investees at fair value	169,856,996		'
[AssetsFairValueDisclosure]	244,227,598		'
Recurring Basis \| Carrying Value	'		'
Assets:	'		'
Real estate securities, available-for-sale	1,861,200		'
Investments in excess mortgage servicing rights	307,568	[3]	'
Investments in equity method investees at fair value	358,032		'
[AssetsFairValueDisclosure]	2,526,800		'
Recurring Basis \| Fair Value	'		'
Assets:	'		'
Real estate securities, available-for-sale	1,861,200		'
Investments in excess mortgage servicing rights	307,568	[3]	'
Investments in equity method investees at fair value	358,032		'
[AssetsFairValueDisclosure]	$2,526,800		'

[1]	(A) Fair value, which is equal to carrying value for all securities. See Note 9 regarding the estimation of fair value.
[2]	(G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.
[3]	(A) The notional amount represents the total unpaid principal balance of the mortgage loans underlying the Excess MSRs. New Residential does not receive an excess mortgage servicing amount on nonperforming loans in Agency portfolios.

FAIR_VALUE_OF_FINANCIAL_INSTRU3

FAIR VALUE OF FINANCIAL INSTRUMENTS - INPUTS EXCESS MSRs (Details 1)	9 Months Ended
	Sep. 30, 2013
MSRs Pool 1	'
Held Directly (Note 3):	'
Prepayment speed	14.40%	[1]
Delinquency	10.00%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.28%	[4]
Discount rate	12.50%
MSR Pool 1 Recapture Agreement	'
Held Directly (Note 3):	'
Prepayment speed	8.00%	[1]
Delinquency	10.00%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.21%	[4]
Discount rate	12.50%
MSRs Pool 2	'
Held Directly (Note 3):	'
Prepayment speed	1.47%	[1]
Delinquency	10.30%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.23%	[4]
Discount rate	12.50%
MSR Pool 2 Recapture Agreement	'
Held Directly (Note 3):	'
Prepayment speed	8.00%	[1]
Delinquency	5.00%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.21%	[4]
Discount rate	12.50%
MSRs Pool 3	'
Held Directly (Note 3):	'
Prepayment speed	15.20%	[1]
Delinquency	11.90%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.24%	[4]
Discount rate	12.50%
MSR Pool 3 Recapture Agreement	'
Held Directly (Note 3):	'
Prepayment speed	8.00%	[1]
Delinquency	10.00%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.21%	[4]
Discount rate	12.50%
MSRs Pool 4	'
Held Directly (Note 3):	'
Prepayment speed	15.40%	[1]
Delinquency	14.90%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.17%	[4]
Discount rate	12.50%
MSR Pool 4 Recapture Agreement	'
Held Directly (Note 3):	'
Prepayment speed	8.00%	[1]
Delinquency	10.00%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.21%	[4]
Discount rate	12.50%
MSRs Pool 5	'
Held Directly (Note 3):	'
Prepayment speed	12.30%	[1]
Delinquency	0.00%	[2],[5]
Recapture rate	14.00%	[3]
Excess mortgage servicing amount	0.13%	[4]
Discount rate	12.70%
MSR Pool 5 Recapture Agreement	'
Held Directly (Note 3):	'
Prepayment speed	8.00%	[1]
Delinquency	0.00%	[2],[5]
Recapture rate	15.00%	[3]
Excess mortgage servicing amount	0.21%	[4]
Discount rate	12.70%
MSR Pool 11 Recapture Agreement	'
Held Directly (Note 3):	'
Prepayment speed	9.30%	[1]
Delinquency	2.30%	[2]
Recapture rate	32.00%	[3]
Excess mortgage servicing amount	0.19%	[4]
Discount rate	12.50%
MSRs Pool 12	'
Held Directly (Note 3):	'
Prepayment speed	15.30%	[1]
Delinquency	0.00%	[2],[5]
Recapture rate	16.70%	[3]
Excess mortgage servicing amount	0.26%	[4]
Discount rate	16.40%
MSR Pool 12 Recapture Agreement	'
Held Directly (Note 3):	'
Prepayment speed	7.00%	[1]
Delinquency	0.00%	[2],[5]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.19%	[4]
Discount rate	16.40%

[1]	(A) Projected annualized weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector.
[2]	(B) Projected percentage of mortgage loans in the pool that will miss their mortgage payments.
[3]	(C) Percentage of voluntarily prepaid loans that are expected to be refinanced by Nationstar.
[4]	(D) Weighted average total mortgage servicing amount in excess of the basic fee.
[5]	(E) The Excess MSR will be paid on the total UPB of the mortgage portfolio (including both performing and delinquent loans until REO).

FAIR_VALUE_OF_FINANCIAL_INSTRU4

FAIR VALUE OF FINANCIAL INSTRUMENTS - INPUTS EXCESS MSRs (Details 2)	9 Months Ended
	Sep. 30, 2013
MSR Pool 11 Recapture Agreement	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	9.30%	[1]
Delinquency	2.30%	[2]
Recapture rate	32.00%	[3]
Excess mortgage servicing amount	0.19%	[4]
Discount rate	12.50%
Excess Mortgage Servicing Rights Investees \| MSRs Pool 6	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	18.20%	[1]
Delinquency	8.90%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.25%	[4]
Discount rate	12.50%
Excess Mortgage Servicing Rights Investees \| MSR Pool 6 Recapture Agreement	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	10.00%	[1]
Delinquency	6.00%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.23%	[4]
Discount rate	12.50%
Excess Mortgage Servicing Rights Investees \| MSRs Pool 7	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	13.30%	[1]
Delinquency	8.00%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.16%	[4]
Discount rate	12.50%
Excess Mortgage Servicing Rights Investees \| MSR Pool 7 Recapture Agreement	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	10.00%	[1]
Delinquency	5.00%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.19%	[4]
Discount rate	12.50%
Excess Mortgage Servicing Rights Investees \| MSRs Pool 8	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	14.30%	[1]
Delinquency	6.90%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.19%	[4]
Discount rate	12.50%
Excess Mortgage Servicing Rights Investees \| MSR Pool 8 Recapture Agreement	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	10.00%	[1]
Delinquency	5.00%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.19%	[4]
Discount rate	12.50%
Excess Mortgage Servicing Rights Investees \| MSRs Pool 9	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	18.00%	[1]
Delinquency	5.00%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.22%	[4]
Discount rate	12.50%
Excess Mortgage Servicing Rights Investees \| MSR Pool 9 Recapture Agreement	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	10.00%	[1]
Delinquency	5.00%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.28%	[4]
Discount rate	12.50%
Excess Mortgage Servicing Rights Investees \| MSRs Pool 10	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	11.50%	[1]
Delinquency	0.00%	[2],[5]
Recapture rate	15.00%	[3]
Excess mortgage servicing amount	0.12%	[4]
Discount rate	12.70%
Excess Mortgage Servicing Rights Investees \| MSR Pool 10 Recapture Agreement	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	9.00%	[1]
Delinquency	0.00%	[2],[5]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.19%	[4]
Discount rate	12.70%
Excess Mortgage Servicing Rights Investees \| MSRs Pool 11	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	18.70%	[1]
Delinquency	7.80%	[2]
Recapture rate	38.90%	[3]
Excess mortgage servicing amount	0.15%	[4]
Discount rate	12.50%
Excess Mortgage Servicing Rights Investees \| MSR Pool 11 Recapture Agreement	'
Held through Equity Method Investees (Note 6):	'
Prepayment speed	10.00%	[1]
Delinquency	2.00%	[2]
Recapture rate	35.00%	[3]
Excess mortgage servicing amount	0.19%	[4]
Discount rate	12.50%

[1]	(A) Projected annualized weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector.
[2]	(B) Projected percentage of mortgage loans in the pool that will miss their mortgage payments.
[3]	(C) Percentage of voluntarily prepaid loans that are expected to be refinanced by Nationstar.
[4]	(D) Weighted average total mortgage servicing amount in excess of the basic fee.
[5]	(E) The Excess MSR will be paid on the total UPB of the mortgage portfolio (including both performing and delinquent loans until REO).

FAIR_VALUE_OF_FINANCIAL_INSTRU5

FAIR VALUE OF FINANCIAL INSTRUMENTS - EXCESS MSRs LEVEL 3 (Details 3) (Level 3 Inputs, USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
MSRs Pool 1	'
Balance, beginning	$40,910	[1]
Transfers	'
Transfers from Level 3	'	[1],[2]
Transfers into Level 3	'	[1],[2]
Gains (losses) included in net income	6,807	[1],[3]
Interest income	5,097	[1]
Purchases, sales and repayments	'
Purchases	'	[1]
Purchase adjustments	'	[1]
Proceeds from sales	'	[1]
Proceeds from repayments	-10,278	[1]
Balance, ending	42,536	[1]
MSRs Pool 2	'
Balance, beginning	39,322	[1]
Transfers	'
Transfers from Level 3	'	[1],[2]
Transfers into Level 3	'	[1],[2]
Gains (losses) included in net income	7,509	[1],[3]
Interest income	3,739	[1]
Purchases, sales and repayments	'
Purchases	'	[1]
Purchase adjustments	'	[1]
Proceeds from sales	'	[1]
Proceeds from repayments	-9,096	[1]
Balance, ending	41,474	[1]
MSRs Pool 3	'
Balance, beginning	35,434	[1]
Transfers	'
Transfers from Level 3	'	[1],[2]
Transfers into Level 3	'	[1],[2]
Gains (losses) included in net income	7,657	[1],[3]
Interest income	4,892	[1]
Purchases, sales and repayments	'
Purchases	'	[1]
Purchase adjustments	'	[1]
Proceeds from sales	'	[1]
Proceeds from repayments	-8,689	[1]
Balance, ending	39,294	[1]
MSRs Pool 4	'
Balance, beginning	15,036	[1]
Transfers	'
Transfers from Level 3	'	[1],[2]
Transfers into Level 3	'	[1],[2]
Gains (losses) included in net income	3,644	[1],[3]
Interest income	2,034	[1]
Purchases, sales and repayments	'
Purchases	'	[1]
Purchase adjustments	'	[1]
Proceeds from sales	'	[1]
Proceeds from repayments	-3,525	[1]
Balance, ending	17,189	[1]
MSRs Pool 5	'
Balance, beginning	114,334	[1]
Transfers	'
Transfers from Level 3	'	[1],[2]
Transfers into Level 3	'	[1],[2]
Gains (losses) included in net income	18,208	[1],[3]
Interest income	14,728	[1]
Purchases, sales and repayments	'
Purchases	26,637	[1]
Purchase adjustments	'	[1]
Proceeds from sales	'	[1]
Proceeds from repayments	-26,741	[1]
Balance, ending	147,166	[1]
MSRs Pool 11	'
Balance, beginning	'	[1]
Transfers	'
Transfers from Level 3	'	[1],[2]
Transfers into Level 3	'	[1],[2]
Gains (losses) included in net income	'	[1],[3]
Interest income	'	[1]
Purchases, sales and repayments	'
Purchases	2,391	[1]
Purchase adjustments	'	[1]
Proceeds from sales	'	[1]
Proceeds from repayments	'	[1]
Balance, ending	2,391	[1]
MSRs Pool 12	'
Balance, beginning	'	[1]
Transfers	'
Transfers from Level 3	'	[1],[2]
Transfers into Level 3	'	[1],[2]
Gains (losses) included in net income	74	[1],[3]
Interest income	51	[1]
Purchases, sales and repayments	'
Purchases	17,393	[1]
Purchase adjustments	'	[1]
Proceeds from sales	'	[1]
Proceeds from repayments	'	[1]
Balance, ending	17,518	[1]
MSRs	'
Balance, beginning	245,036	[1]
Transfers	'
Transfers from Level 3	'	[1],[2]
Transfers into Level 3	'	[1],[2]
Gains (losses) included in net income	43,899	[1],[3]
Interest income	30,541	[1]
Purchases, sales and repayments	'
Purchases	46,421	[1]
Purchase adjustments	'	[1]
Proceeds from sales	'	[1]
Proceeds from repayments	-58,329	[1]
Balance, ending	$307,568	[1]

[1]	(A) Includes the Recapture Agreement for each respective pool.
[2]	(B) Transfers are assumed to occur at the beginning of the respective period.
[3]	(C) The gains (losses) recorded in earnings during the period are attributable to the change in unrealized gains (losses) relating to Level 3 assets still held at the reporting dates. These gains (losses) represent the change in fair value of the Excess MSRs and are recorded in "Change in fair value of investments in excess mortgage servicing rights" in the consolidated statements of income.

FAIR_VALUE_OF_FINANCIAL_INSTRU6

FAIR VALUE OF FINANCIAL INSTRUMENTS - INVESTMENTS IN EQUITY METHOD INVESTEES LEVEL 3 (Details 4) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Investments in equity method investees at fair value	'	'	'	'
Distributions of earnings from equity method investees	'	'	-23,659	'
Change in fair value of investments in equity method investees	20,645	'	41,741	'
Investments in equity method investees at fair value	358,032	'	358,032	'
Recurring Basis \| Level 3 Inputs	'	'	'	'
Investments in equity method investees at fair value	'	'	'	'
Contributions to equity method investees	'	'	351,937	'
Distributions of earnings from equity method investees	'	'	-18,626	'
Distributions of capital from equity method investees	'	'	-17,020	'
Change in fair value of investments in equity method investees	'	'	41,741	'
Investments in equity method investees at fair value	$358,032	'	$358,032	'

FAIR_VALUE_OF_FINANCIAL_INSTRU7

FAIR VALUE OF FINANCIAL INSTRUMENTS - REAL ESTATE SECURITIES VALUATION (Details 5) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified	Sep. 30, 2013
Outstanding face amount	$2,054,797	[1]
Amortized cost basis	1,845,512	[1]
Total Fair Value	1,861,200
Multiple Quotes	'
Total Fair Value	1,861,200	[2]
Agency RMBS	'
Outstanding face amount	1,203,293	[3],[4]
Amortized cost basis	1,285,532	[3],[4]
Total Fair Value	1,279,450
Agency RMBS \| Multiple Quotes \| Fair Value, Inputs, Level 2	'
Total Fair Value	1,279,450	[2]
Non-Agency RMBS	'
Outstanding face amount	851,504
Amortized cost basis	559,980
Total Fair Value	581,750
Non-Agency RMBS \| Multiple Quotes \| Level 3 Inputs	'
Total Fair Value	$581,750	[2]

[1]	(G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.
[2]	(A) Management generally obtained pricing service quotations or broker quotations from two sources, one of which was generally the seller (the party that sold New Residential the security). Management selected one of the quotes received as being most representative of the fair value and did not use an average of the quotes. Even if New Residential receives two or more quotes on a particular security that come from non-selling brokers or pricing services, it does not use an average because management believes using an actual quote more closely represents a transactable price for the security than an average level. Furthermore, in some cases there is a wide disparity between the quotes New Residential receives. Management believes using an average of the quotes in these cases would not represent the fair value of the asset. Based on New Residential's own fair value analysis, management selects one of the quotes which is believed to more accurately reflect fair value. New Residential never adjusts quotes.
[3]	(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").
[4]	(F) Amortized cost basis and carrying value include principal receivable of $10.7 million.

FAIR_VALUE_OF_FINANCIAL_INSTRU8

FAIR VALUE OF FINANCIAL INSTRUMENTS - NON-AGENCY RMBS LEVEL 3 (Details 6) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012
Transfers	'		'
Gain on settlement of securities	$11,271		'
Amortization included in interest income	8,008		2,030
Recurring Basis \| Non-Agency RMBS \| Level 3 Inputs	'		'
Balance, beginning	289,756		'
Transfers	'		'
Transfers from Level 3	'	[1]	'
Transfers into Level 3	'	[1]	'
Gains (losses) included in net income as impairment	-729		'
Gain on settlement of securities	11,271		'
Gains (losses) included in comprehensive income	6,501	[2]	'
Amortization included in interest income	16,286		'
Purchases, sales and repayments	'		'
Purchases	450,144		'
Sales	-123,130		'
Proceeds from repayments	-68,349		'
Balance, ending	$581,750		'

[1]	(A) Transfers are assumed to occur at the beginning of the respective period.
[2]	(B) These gains (losses) were included in net unrealized gain (loss) on securities in the consolidated statements of comprehensive income.

FAIR_VALUE_OF_FINANCIAL_INSTRU9

FAIR VALUE OF FINANCIAL INSTRUMENTS - REVERSE MORTGAGE LOANS (Details 7) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Weighted average life (years)	'3 years 6 months	[1],[2]
Reverse Mortgage Loans	'
Outstanding face amount	56,738	[3]
Carrying value	33,060	[3]
Fair value	33,162
Valuation allowance/(reversal) in current year	'
Discount rate	10.30%
Weighted average life (years)	'3 years 9 months 18 days	[4]

[1]	(C) The weighted average life is based on the timing of expected principal reduction on the assets.
[2]	(G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 billion for floating rate securities.
[3]	(A) Represents a 70% interest New Residential holds in reverse mortgage loans.
[4]	(C) The weighted average life is based on the expected timing of the receipt of cash flows.

EQUITY_AND_EARNINGS_PER_SHARE_1

EQUITY AND EARNINGS PER SHARE - OUTSTANDING OPTIONS (Details) (USD $)	Sep. 30, 2013
Stock Options outstanding	21,035,062
Strike Price	$5.35
Options - Strike Price 12.28	'
Stock Options outstanding	304,604
Strike Price	$12.28
Maturity Date	1-Dec-13
Options - Strike Price 14.17	'
Stock Options outstanding	328,350
Strike Price	$14.17
Maturity Date	9-Jan-14
Options - Strike Price 13.86	'
Stock Options outstanding	343,275
Strike Price	$13.86
Maturity Date	25-May-14
Options - Strike Price 16.95	'
Stock Options outstanding	162,500
Strike Price	$16.95
Maturity Date	22-Nov-14
Options - Strike Price 15.97	'
Stock Options outstanding	330,000
Strike Price	$15.97
Maturity Date	12-Jan-15
Options - Strike Price 16.68	'
Stock Options outstanding	2,000
Strike Price	$16.68
Maturity Date	1-Aug-15
Options - Strike Price 15.87	'
Stock Options outstanding	170,000
Strike Price	$15.87
Maturity Date	1-Nov-16
Options - Strike Price 16.90	'
Stock Options outstanding	242,000
Strike Price	$16.90
Maturity Date	23-Jan-17
Options - Strike Price 14.96	'
Stock Options outstanding	456,000
Strike Price	$14.96
Maturity Date	11-Apr-17
Options - Strike Price 3.29	'
Stock Options outstanding	1,580,166
Strike Price	$3.29
Maturity Date	29-Mar-21
Options - Strike Price 2.49	'
Stock Options outstanding	2,424,833
Strike Price	$2.49
Maturity Date	27-Sep-21
Options - Strike Price 2.74	'
Stock Options outstanding	2,000
Strike Price	$2.74
Maturity Date	20-Dec-21
Options - Strike Price 3.41	'
Stock Options outstanding	1,867,167
Strike Price	$3.41
Maturity Date	3-Apr-21
Options - Strike Price 3.67	'
Stock Options outstanding	2,265,000
Strike Price	$3.67
Maturity Date	21-May-22
Options - Strike Price 3.67	'
Stock Options outstanding	2,499,167
Strike Price	$3.67
Maturity Date	31-Jul-22
Options - Strike Price 5.12	'
Stock Options outstanding	5,750,000
Strike Price	$5.12
Maturity Date	11-Jan-23
Options - Strike Price 5.74	'
Stock Options outstanding	2,300,000
Strike Price	$5.74
Maturity Date	15-Feb-23
Options - Strike Price 6.79	'
Stock Options outstanding	8,000
Strike Price	$6.79
Maturity Date	2-Jun-23

EQUITY_AND_EARNINGS_PER_SHARE_2

EQUITY AND EARNINGS PER SHARE - OUTSTANDING OPTIONS SUMMARY (Details 1)	Sep. 30, 2013	15-May-13
Stock Options outstanding	21,035,062	'
The Manager	'	'
Stock Options outstanding	17,893,795	21,500,000
The Manager's Employees	'	'
Stock Options outstanding	3,129,267	'
Independent Directors	'	'
Stock Options outstanding	12,000	'
Total Affiliates	'	'
Stock Options outstanding	21,035,062	'

EQUITY_AND_EARNINGS_PER_SHARE_3

EQUITY AND EARNINGS PER SHARE (Details Narrative) (USD $)	3 Months Ended			9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	15-May-13	6-May-13	Apr. 29, 2013
Common stock, par value	$0.01	'	'	$0.01	'	'	'	$0.01
Common stock, shares authorized	2,000,000,000	'	'	2,000,000,000	'	'	'	2,000,000,000
Preferred stock, par value	'	'	'	'	'	'	'	$0.01
Preferred stock, shares authorized	'	'	'	'	'	'	'	100,000,000
Common stock, shares outstanding	253,186,279	'	'	253,186,279	'	'	253,025,645	'
Dividend declared per share	$0.18	$0.07	'	$0.25	'	'	'	'
Dividends	$44,300	$17,700	'	$62,020	'	'	'	'
Shares reserved for options	'	'	'	'	'	30,000,000	'	'
Yearly increase in number of shares available for options (percentage)	'	'	'	'	'	10.00%	'	'
Threshold percentage for options that may be issued to the Manager	'	'	'	'	'	10.00%	'	'
Stock Options outstanding	21,035,062	'	'	21,035,062	'	'	'	'
Dilutive Common Stock Equivalents	6,816,497	'	'	3,508,415	'	'	'	'
Shares held by Fortress	5,300,000	'	'	5,300,000	'	'	'	'
Former Employee of Manager	'	'	'	'	'	'	'	'
Options exercised	'	'	'	307,833	'	'	'	'
Weighted average exercise price	'	'	'	$3.08	'	'	'	'
Shares issued in option exercise	'	'	'	160,634	'	'	'	'
Aggregate intrinsic value of options	'	'	'	$1,000	'	'	'	'
Unvested Options forfeited	'	'	'	192,167	'	'	'	'
Vested Options forfeited	'	'	'	2,170	'	'	'	'
The Manager	'	'	'	'	'	'	'	'
Stock Options outstanding	17,893,795	'	'	17,893,795	'	21,500,000	'	'

TRANSACTIONS_WITH_AFFILIATES_A2

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
[DueToAffiliateCurrentAndNoncurrent]	$7,109	$5,136
Fortress-managed Affiliate	'	'
Management fees payable	1,495	3,392
Incentive compensation payable	5,348	'
Expense reimbursements	266	'
Due to Newcastle	'	1,744
[DueToAffiliateCurrentAndNoncurrent]	$7,109	$5,136

TRANSACTIONS_WITH_AFFILIATES_A3

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES (Details Narrative) (USD $)	9 Months Ended			0 Months Ended	9 Months Ended		1 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012	Jun. 27, 2013	Sep. 30, 2013		Nov. 07, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013
				Agency RMBS	Agency RMBS		Non-Agency RMBS	Non-Agency RMBS	The Manager	Serviced by Nationstar
										Non-Agency RMBS
Management fee rate (percent)	1.50%		'	'	'		'	'	1.50%	'
Incentive compensation percentage	'		'	'	'		'	'	25.00%	'
Interest rate for incentive compensation	'		'	'	'		'	'	10.00%	'
Face amount of securities purchased	'		'	$22,700	$413,200		$194,300	$661,200	'	'
Purchase of real estate securities	-292,980		'	1,200	437,300		126,600	'	'	'
Outstanding face amount	2,054,797	[1]	'	'	1,203,293	[2],[3]	'	851,504	'	851,500
Unpaid principal balance of underlying loans	'		'	'	'		'	'	'	$11,500,000

[1]	(G) The total outstanding face amount was $16.4 million for fixed rate securities and $2.0 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 $10.7 million.

RECLASSIFICATION_FROM_ACCUMULA2

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Net realized gain (loss) on securities	'	'	'	'
Reclassification of net realized (gain) loss on securities into earnings	($11,213)	'	($7,515)	'
Gain on settlement of securities	'	'	'	'
Net realized gain (loss) on securities	'	'	'	'
Gain on settlement of securities	-11,213	'	-11,271	'
Other-Than-Temporary Investment	'	'	'	'
Net realized gain (loss) on securities	'	'	'	'
Impairment	'	'	$3,756	'

RECENT_ACTIVITIES_Details_Narr

RECENT ACTIVITIES (Details Narrative) (USD $)

9 Months Ended

1 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2013

Sep. 30, 2012

Oct. 31, 2013

Sep. 30, 2013

Nov. 07, 2013

Sep. 30, 2013

Nov. 07, 2013

Oct. 30, 2013

Sep. 30, 2013

Nov. 07, 2013

Sep. 30, 2013

Excess Mortgage Servicing Rights Investees

MSRs

MSRs Pool 10

Alpine Securitization Corp.

Non-Agency RMBS

Excess Mortgage Servicing Rights Investees

GSE Residential Loans

PLS Residential Loans

Face amount of securities purchased

$194,300

$661,200

Purchase of real estate securities

-292,980

126,600

Face amount of securities sold

52,500

153,500

Carrying value of securities sold

31,500

Proceeds from sale of real estate securities

123,130

38,100

123,100

Gain on sale of real estate securities

6,600

11,300

Repurchase agreements

414,200

342,900

Default provision, percentage equity decline - 12 months

50.00%

Default provision, percentage equity decline - 3 months

35.00%

Indebtedness to tangible net worth provision ratio

400.00%

Variable basis for interest rate

'LIBOR

Spread on variable basis interest rate

1.75%

Unpaid principal balance of underlying loans

9,600,000

13,100,000

10,500,000

59,784,115

Percentage ownership acquired in joint venture

50.00%

33.30%

50.00%

Percentage of Investment co-owned by Nationstar

33.30%

Percentage of Investment owned by New Residential

33.30%

Amount invested

3,400

13,900

Amount committed to invest in joint venture

32,300

23,300

4,100

Amount committed to invest in Excess MSRs

700

Unpaid principal balance of underlying mortgage

1,300,000

10,100,000

Amount commited to be invested in non-performing loans

106,600

Face amount of non-performing loans committed to buy

$197,300