Rithm Capital (RITM) 10-Q 7 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	9 Months Ended
	Sep. 30, 2014	Oct. 31, 2014
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-14	'
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	'Large Accelerated Filer	'
Entity Common Stock, Par Value	$0.01	'
Entity Common Stock, Shares Outstanding	'	141,382,603
Document Fiscal Period Focus	'Q3	'
Document Fiscal Year Focus	'2014	'

Consolidated_Balance_Sheets_Un

Consolidated Balance Sheets (Unaudited) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investments in:	'	'
Excess mortgage servicing rights, at fair value	$409,236	$324,151
Excess mortgage servicing rights, equity method investees, at fair value	342,538	352,766
Servicer advances, at fair value	3,214,113	2,665,551
Real estate securities, available-for-sale	2,079,712	1,973,189
Residential mortgage loans, held-for-investment	629,398	33,539
Residential mortgage loans, held-for-sale	492,399	0
Consumer loans, equity method investees	264,039	215,062
Cash and cash equivalents	187,601	271,994
Restricted cash	29,962	33,338
Real estate owned	52,740	0
Derivative assets	28,686	35,926
Other assets	42,977	53,142
Total assets	7,773,401	5,958,658
Liabilities	'	'
Repurchase agreements	2,738,349	1,620,711
Notes payable	2,847,251	2,488,618
Trades payable	213,050	246,931
Due to affiliates	35,141	19,169
Dividends payable	49,484	63,297
Deferred tax liability	22,485	0
Accrued expenses and other liabilities	11,780	6,857
Total liabilities	5,917,540	4,445,583
Commitments and Contingencies	'	'
Equity	'	'
Common Stock, $0.01 par value, 2,000,000,000 shares authorized, 141,382,603 and 126,598,987 issued and outstanding at September 30, 2014 and December 31, 2013, respectively	1,414	1,266
Additional paid-in capital	1,330,090	1,158,384
Retained earnings	237,284	102,986
Accumulated other comprehensive income, net of tax	6,628	3,214
Total New Residential stockholders’ equity	1,575,416	1,265,850
Noncontrolling interests in equity of consolidated subsidiaries	280,445	247,225
Total Equity	1,855,861	1,513,075
Total Liabilities And Stockholders Equity	$7,773,401	$5,958,658

Consolidated_Balance_Sheets_Un1

Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	2,000,000,000	2,000,000,000
Common stock, shares issued	141,382,603	126,598,987
Common stock, shares outstanding	141,382,603	126,598,987

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, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'	'	'	'
Interest income	$97,587	$21,885	$261,733	$61,075
Interest expense	33,307	3,443	108,816	6,993
Net Interest Income	64,280	18,442	152,917	54,082
Impairment	'	'	'	'
Other-than-temporary impairment (OTTI) on securities	0	0	943	3,756
Valuation provision on loans	1,134	0	1,591	0
Impairment	1,134	0	2,534	3,756
Net interest income after impairment	63,146	18,442	150,383	50,326
Other Income	'	'	'	'
Change in fair value of investments in excess mortgage servicing rights	28,566	208	40,670	43,899
Change in fair value of investments in excess mortgage servicing rights, equity method investees	31,833	20,645	50,950	41,741
Change in fair value of investments in servicer advances	22,948	0	105,825	0
Earnings from investments in consumer loans, equity method investees	22,490	24,129	60,185	60,293
Gain on settlement of investments	938	11,213	57,834	11,271
Other income	15,289	0	19,539	0
Other Income	122,064	56,195	335,003	157,204
Operating Expenses	'	'	'	'
General and administrative expenses	7,499	2,449	14,886	5,640
Management fee allocated by Newcastle	0	0	0	4,134
Management fee to affiliate	5,124	4,484	14,525	6,747
Incentive compensation to affiliate	10,910	4,470	33,111	5,348
Loan servicing expense	1,778	89	2,210	219
Operating Expenses	25,311	11,492	64,732	22,088
Income (Loss) Before Income Taxes	159,899	63,145	420,654	185,442
Income tax expense	7,801	0	29,483	0
Net Income (Loss)	152,098	63,145	391,171	185,442
Noncontrolling Interests in Income (Loss) of Consolidated Subsidiaries	25,726	0	92,524	0
Net Income (Loss) Attributable to Common Stockholders	$126,372	$63,145	$298,647	$185,442
Net Income Per Share of Common Stock	'	'	'	'
Basic (in usd per share)	$0.89	$0.50	$2.22	$1.47
Diluted (in usd per share)	$0.88	$0.49	$2.16	$1.45
Weighted Average Number of Shares of Common Stock Outstanding	'	'	'	'
Basic (in shares)	141,211,580	126,536,394	134,814,020	126,520,766
Diluted (in shares)	144,166,601	129,944,643	137,972,639	128,274,974
Dividends Declared per Share of Common Stock	$0.35	$0.35	$1.20	$0.49

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Comprehensive income (loss), net of tax	'	'	'	'
Net income (loss)	$152,098	$63,145	$391,171	$185,442
Other comprehensive income (loss)	'	'	'	'
Net unrealized gain (loss) on securities	1,308	7,687	67,915	7,677
Reclassification of net realized (gain) loss on securities into earnings	-3,668	-11,213	-64,501	-7,515
Total other comprehensive income (loss)	-2,360	-3,526	3,414	162
Total comprehensive income (loss)	149,738	59,619	394,585	185,604
Comprehensive income (loss) attributable to noncontrolling interests	25,726	0	92,524	0
Comprehensive income (loss) attributable to common stockholders	$124,012	$59,619	$302,061	$185,604

Consolidated_Statement_of_Chan

Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (USD $)	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Total New Residential Stockholders’ Equity	Noncontrolling Interests in Equity of Consolidated Subsidiaries
In Thousands, except Share data, unless otherwise specified
Equity - December 31, 2013 at Dec. 31, 2013	$1,513,075	$1,266	$1,158,384	$102,986	$3,214	$1,265,850	$247,225
Equity - December 31, 2013 (in shares) at Dec. 31, 2013	'	126,598,987	'	'	'	'	'
Dividends declared	-164,349	'	'	-164,349	'	-164,349	'
Capital contributions	142,082	'	'	'	'	'	142,082
Capital distributions	-200,368	'	'	'	'	'	-200,368
Issuance of common stock (in shares)	'	14,375,000	'	'	'	'	'
Issuance of common stock	169,905	144	169,761	'	'	169,905	'
Option exercise (in shares)	'	383,536	'	'	'	'	'
Option exercise	603	4	599	'	'	603	'
Dilution impact of distributions from consolidated subsidiaries	'	'	1,018	'	'	1,018	-1,018
Director share grant (in shares)	'	25,080	'	'	'	'	'
Director share grant	328	0	328	'	'	328	'
Comprehensive income (loss) (net of tax)	'	'	'	'	'	'	'
Net income (loss)	391,171	'	'	298,647	'	298,647	92,524
Net unrealized gain (loss) on securities	67,915	'	'	'	67,915	67,915	'
Reclassification of net realized (gain) loss on securities into earnings	-64,501	'	'	'	-64,501	-64,501	'
Total comprehensive income (loss)	394,585	'	'	'	'	302,061	92,524
Equity - September 30, 2014 at Sep. 30, 2014	$1,855,861	$1,414	$1,330,090	$237,284	$6,628	$1,575,416	$280,445
Equity - September 30, 2014 (in shares) at Sep. 30, 2014	'	141,382,603	'	'	'	'	'

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash Flows From Operating Activities	'	'
Net income (loss)	$391,171	$185,442
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	-40,670	-43,899
Change in fair value of investments in excess mortgage servicer rights, equity method investees	-50,950	-41,741
Change in fair value of investments in servicer advances	-105,825	0
Earnings from consumer loan equity method investees	-60,185	-60,293
Change in fair value of investments in derivative assets	-2,355	0
Accretion and other amortization	-213,945	-40,156
(Gain) / loss on settlement of investments (net)	-57,834	-11,271
(Gain) / loss on transfer of loans to REO	-11,861	0
(Gain) / loss on mortgage servicing rights recapture agreement	-323	0
Other-than-temporary impairment (“OTTI”)	943	3,756
Valuation provision on loans	1,591	0
Non-cash directors’ compensation	328	0
Deferred tax provision	22,485	0
Changes in:	'	'
Restricted cash	3,376	0
Other assets	-8,961	-7,145
Due to affiliates	15,972	1,973
Accrued expenses and other liabilities	4,665	1,752
Reduction of liability deemed as capital contribution by Newcastle	0	11,515
Other operating cash flows:	'	'
Interest received from excess mortgage servicing rights	38,548	12,399
Interest received from servicer advance investments	91,829	0
Interest received from residential mortgage loans, held-for-investment	5,536	2,432
Cash proceeds from investments, in excess of interest income	0	41,435
Net cash proceeds deemed as capital distributions to Newcastle	0	-35,571
Net cash provided by (used in) operating activities	68,814	104,580
Cash Flows From Investing Activities	'	'
Acquisition of investments in excess mortgage servicing rights	-75,206	-46,421
Acquisition of investments in excess mortgage servicing rights, equity method investees	0	-226,837
Purchase of servicer advance investments	-5,569,238	0
Purchase of Agency RMBS	-1,229,580	-292,980
Purchase of Non-Agency RMBS	-1,148,631	-202,484
Purchase of residential mortgage loans, held-for-investment	-1,357,268	0
Purchase of derivative assets	-70,027	0
Purchase of real estate owned	-6,314	0
Payment for settlement of derivatives	-22,643	0
Return of investments in excess mortgage servicing rights	30,615	15,132
Principal repayments from servicing advance investments	5,188,295	0
Principal repayments from Agency RMBS	213,993	219,187
Principal repayments from Non-Agency RMBS	71,019	50,878
Principal repayments from residential mortgage loans, held-for-investment	33,235	2,400
Proceeds from sale of Agency RMBS	796,392	0
Proceeds from sale of Non-Agency RMBS	1,273,191	123,130
Proceeds from settlement of derivatives	14,107	0
Proceeds from sale of residential mortgage loans	249,690	0
Proceeds from sale of real estate owned	4,140	0
Net cash provided by (used in) investing activities	-1,577,732	-301,054
Cash Flows From Financing Activities	'	'
Repayments of repurchase agreements	-2,839,051	-1,283,567
Margin deposits under repurchase agreements and derivatives	-221,598	-210,507
Repayments of notes payable	-5,019,000	0
Payment of deferred financing fees	-8,389	-166
Common stock dividends paid	-178,162	-17,712
Borrowings under repurchase agreements	3,957,212	1,425,413
Return of margin deposits under repurchase agreements and derivatives	243,658	210,158
Borrowings under notes payable	5,377,633	0
Issuance of common stock	173,201	0
Costs related to issuance of common stock	-2,693	0
Capital contributions	0	245,058
Noncontrolling interest in equity of consolidated subsidiaries - contributions	142,082	0
Noncontrolling interest in equity of consolidated subsidiaries - distributions	-200,368	0
Net cash provided by (used in) financing activities	1,424,525	368,677
Net Increase (Decrease) in Cash and Cash Equivalents	-84,393	172,203
Cash and Cash Equivalents, Beginning of Period	271,994	0
Cash and Cash Equivalents, End of Period	187,601	172,203
Supplemental Disclosure of Cash Flow Information	'	'
Cash paid during the period for interest	105,937	6,853
Cash paid during the period for income taxes	9,119	0
Supplemental Schedule of Non-Cash Investing and Financing Activities Prior to Date of Cash Contribution by Newcastle	'	'
Cash proceeds from investments, in excess of interest income	0	41,435
Acquisition of real estate securities	0	242,750
Acquisition of investments in excess mortgage servicing rights, equity method investees at fair value	0	125,099
Acquisition of residential mortgage loans, held-for-investment	0	35,138
Acquisition of investments in consumer loan equity method investees	0	245,421
Borrowings under repurchase agreements	0	1,179,068
Repayments of repurchase agreements	0	3,902
Capital contributions by Newcastle	0	648,408
Contributions in-kind by Newcastle	0	1,093,684
Capital distributions to Newcastle	0	1,228,054
Supplemental Schedule of Non-Cash Investing and Financing Activities Subsequent to Date of Cash Contribution by Newcastle	'	'
Dividends payable	49,484	44,308
Equity Method Investments, Non-Cash Distribution	609	0
Excess Mortgage Servicing Rights Investees	'	'
Other operating cash flows:	'	'
Distributions of earnings, equity method investees	34,680	23,659
Cash Flows From Investing Activities	'	'
Return of investments in excess mortgage servicing rights, equity method investees	26,498	4,018
Consumer Loan, Equity Method Investees	'	'
Other operating cash flows:	'	'
Distributions of earnings, equity method investees	10,599	60,293
Cash Flows From Investing Activities	'	'
Return of investments in excess mortgage servicing rights, equity method investees	$0	$52,923

GENERAL

GENERAL	9 Months Ended
	Sep. 30, 2014
General	'
GENERAL	'
	GENERAL
	New Residential Investment Corp. (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 13), which was completed on May 15, 2013. Newcastle is listed on the New York Stock Exchange (“NYSE”) 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 NYSE under the symbol “NRZ.”
	New Residential has elected and intends to qualify to be taxed as a REIT for U.S. federal income tax purposes. 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. See Note 17 regarding New Residential's taxable REIT subsidiaries.
	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. The Manager also manages Newcastle and investment funds that own a majority of Nationstar Mortgage LLC (“Nationstar”), a leading residential mortgage servicer, and Springleaf Holdings, Inc. (“Springleaf”), managing member of the Consumer Loan Companies (Note 9).
	As of September 30, 2014, New Residential conducted its business through the following segments: (i) investments in Excess MSRs, (ii) investments in servicer advances, (iii) investments in real estate securities, (iv) investments in real estate loans, (v) investments in consumer loans and (vi) corporate.
	Approximately 2.4 million shares of New Residential’s common stock were held by Fortress, through its affiliates, and its principals as of September 30, 2014. In addition, Fortress, through its affiliates, held options to purchase approximately 9.0 million shares of New Residential’s common stock as of September 30, 2014.
	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 condensed 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 consolidated financial statements should be read in conjunction with New Residential’s consolidated financial statements for the year ended December 31, 2013 and notes thereto included in New Residential’s Annual Report on Form 10-K 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, 2013.
	Certain prior period amounts have been reclassified to conform to the current period's presentation. In addition, New Residential completed a one-for-two reverse stock split in October 2014 (Notes 13 and 18). The impact of this reverse stock split has been retroactively applied to all periods presented.
	Recently Adopted Accounting Policies
	Purchased Credit-Impaired ("PCI") Loans
	New Residential evaluates the credit quality of its loans, as of the acquisition date, for evidence of credit quality deterioration. Loans with evidence of credit deterioration since their origination, and where it is probable that New Residential will not collect all contractually required principal and interest payments, are PCI loans. At acquisition, New Residential aggregates PCI loans into pools based on common risk characteristics and loans aggregated into pools are accounted for as if each pool were a single loan with a single composite interest rate and an aggregate expectation of cash flows.
	The excess of the total cash flows (both principal and interest) expected to be collected over the carrying value of the PCI loans is referred to as the accretable yield. This amount is not reported on New Residential’s Condensed Consolidated Balance Sheets but is accreted into interest income at a level rate of return over the remaining estimated life of the pool of loans.
	On a quarterly basis, New Residential estimates the total cash flows expected to be collected over the remaining life of each pool. Probable decreases in expected cash flows trigger the recognition of impairment. Impairments are recognized through the valuation provision for loans and an increase in the allowance for loan losses. Probable and significant increases in expected cash flows would first reverse any previously recorded allowance for loan losses with any remaining increases recognized prospectively as a yield adjustment over the remaining estimated life of the pool of loans.
	The excess of the total contractual cash flows over the cash flows expected to be collected is referred to as the nonaccretable difference. This amount is not reported on New Residential's Condensed Consolidated Balance Sheets and represents an estimate of the amount of principal and interest that will not be collected.
	The liquidation of PCI loans, which may include sales of loans, receipt of payment in full by the borrower, or foreclosure, results in removal of the loans from the underlying PCI pool. When the amount of the liquidation proceeds, if any, is less than the unpaid principal balance of the loan, the difference is first applied against the PCI pool’s nonaccretable difference. When the nonaccretable difference for a particular loan pool has been fully depleted, any excess of the unpaid principal balance of the loan over the liquidation proceeds is written off against the PCI pool’s allowance for loan losses.
	Loans Held-for-Sale
	Loans acquired with the intent to sell are classified as held-for-sale. Loans held-for-sale are measured at the lower of cost or fair value, with valuation changes recorded in other income. Purchase price discounts or premiums are deferred in a contra loan account until the related loan is sold. The deferred discounts or premiums are an adjustment to the basis of the loan and are included in the quarterly determination of the lower of cost or fair value adjustments and/or the gain or loss recognized at the time of sale.
	Real Estate Owned ("REO")
	REO assets are those individual properties where New Residential receives the property in satisfaction of a debt (e.g., by taking legal title or physical possession). New Residential measures REO assets at the lower of cost or fair value, with valuation changes recorded in other income. See Note 12 for further details on the fair value measurement of REO.
	Reclassification of Loans upon Foreclosure
	In January 2014, the FASB issued ASU 2014-04, Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. The standard clarifies the timing of when a creditor is considered to have taken physical possession of residential real estate collateral for a consumer mortgage loan, resulting in the reclassification of the loan receivable to REO. A creditor has taken physical possession of the property when either (1) the creditor obtains legal title through foreclosure, or (2) the borrower transfers all interests in the property to the creditor via a deed in lieu of foreclosure or a similar legal agreement. The standard also requires disclosure of the amount of foreclosed residential real estate property held by the creditor and the recorded investment in residential real estate mortgage loans that are in process of foreclosure. New Residential has included this disclosure through an early adoption of this guidance with prospective application. New Residential’s adoption of this guidance did not have an impact on its consolidated financial statements as this guidance was consistent with its prior practice. See Note 8 for the new disclosure.
	Classification of Government-Guaranteed Loans upon Foreclosure
	In August 2014, the FASB issued ASU No. 2014-14, Receivables - Troubled Debt Restructurings by Creditors (Subtopic 310-40): Classification of Certain Government-Guaranteed Mortgage Loans upon Foreclosure (a consensus of the FASB Emerging Issues Task Force). The standard provides guidance on how to classify and measure certain government-guaranteed mortgage loans upon foreclosure. A mortgage loan is to be derecognized and a separate other receivable is to be recognized upon foreclosure in the amount of the loan balance (principal and interest) expected to be recovered from the guarantor if (1) the loan has a government guarantee that is not separable from the loan before foreclosure, (2) at the time of foreclosure, the creditor has the intent to convey the real estate property to the guarantor and make a claim on the guarantee, and the creditor has the ability to recover under that claim, and 3) at the time of foreclosure, any amount of the claim that is determined on the basis of the fair value of the real estate is fixed. The ASU is effective in the first quarter of 2015 and early adoption is permitted.
	New Residential has adopted ASU No. 2014-14 as of September 30, 2014, as it relates to the reverse mortgage portfolio. This portfolio is comprised primarily of U.S. Department of Housing and Urban Development (HUD)-guaranteed reverse mortgage loans.
	Upon foreclosure of a reverse mortgage loan, New Residential receives the real estate property in satisfaction of the loan and intends to dispose of the property for the best possible economic value. To the extent the liquidation proceeds are less than the unpaid principal balance (UPB) of the loan, New Residential submits a claim to HUD for the lesser of the remaining UPB or the pre-determined HUD claim amount. New Residential’s exposure to market risk while the foreclosed property is in its possession is limited to the extent the HUD claim amount is unlikely to cover any shortfall in property disposal proceeds.
	After adoption of ASU No. 2014-14, upon foreclosure of a guaranteed reverse mortgage loan, New Residential records a separate other receivable for the expected liquidation proceeds, comprised of both the property disposal proceeds and the maximum HUD claim amount.
	New Residential has used the modified retrospective transition method of adoption, that resulted in no cumulative-effect adjustment as of the beginning of the current fiscal year.
	Recent Accounting Pronouncements
	In May 2014, the FASB issued ASU 2014-09, Revenues from Contracts with Customers (Topic 606). The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under today’s guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. The ASU is effective for New Residential in the first quarter of 2017. Early adoption is not permitted. Entities have the option of using either a full retrospective or a modified approach to adopt the guidance in the ASU. New Residential is currently evaluating the new guidance to determine the impact it may have on its consolidated financial statements.
	In June 2014, the FASB issued ASU No. 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures. The standard changes the accounting for repurchase-to-maturity transactions and linked repurchase financing transactions to secured borrowing accounting. The ASU also expands disclosure requirements related to certain transfers of financial assets that are accounted for as sales and certain transfers accounted for as secured borrowings. The ASU is effective for New Residential in the first quarter of 2015. Early adoption is not permitted. Disclosures are not required for comparative periods presented before the effective date. New Residential is currently evaluating the new guidance to determine the impact it may have on its consolidated financial statements.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The standard provides guidance on management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern by requiring management to assess an entity’s ability to continue as a going concern by incorporating and expanding on certain principles that are currently in U.S. auditing standards. The ASU is effective for New Residential for the annual period ending on December 31, 2016. Early adoption is permitted. New Residential is currently evaluating the new guidance to determine the impact that it may have on its consolidated financial statements.
	The FASB has recently issued or discussed a number of proposed standards on such topics as consolidation, financial statement presentation, financial instruments and hedging. 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.

OTHER_INCOME_ASSETS_AND_LIABIL

OTHER INCOME, ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2014
Other Income Assets And Liabilities	'
OTHER INCOME, ASSETS AND LIABILITIES	'
	OTHER INCOME, ASSETS AND LIABILITIES
	Other income is comprised of the following:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Gain (loss) on derivative instruments	$	4,799			$	—			$	2,355			$	—
	Gain (loss) on transfer of loans to REO	5,167				—				11,861				—
	Fee earned on deal termination	5,000				—				5,000				—
	Other income	323				—				323				—
		$	15,289			$	—			$	19,539			$	—
	Gain on settlement of investments is comprised of the following:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Gain on sale of real estate securities, net	$	3,668			$	11,213			$	65,444			$	11,271
	Gain (loss) on sale of derivatives	(2,403		)		—				(6,186		)		—
	Gain (loss) on liquidated residential	782				—				782				—
	mortgage loans, held-for-investment
	Gain (loss) on sale of REO	(159		)		—				(801		)		—
	Other gains (losses)	(950		)		—				(1,405		)		—
		$	938			$	11,213			$	57,834			$	11,271
	Other assets and liabilities are comprised of the following:
		Other Assets										Accrued Expenses and Other Liabilities
		30-Sep-14				31-Dec-13						30-Sep-14				31-Dec-13
	Margin receivable, net	$	17,220			$	40,132			Interest payable		$	246			$	4,010
	Interest and other receivables	8,530				7,548				Accounts payable		10,586				2,829
	Deferred financing costs, net(A)	5,487				4,773				Derivative liability		345				18
	Other assets	11,740				689				Current taxes payable		584				—
		$	42,977			$	53,142			Other liabilities		19				—
												$	11,780			$	6,857
	(A)	Deferred financing costs is net of accumulated amortization of $8,443 and $768 as of September 30, 2014 and December 31, 2013, respectively.
	As reflected on the Condensed Consolidated Statements of Cash Flows, accretion and other amortization is comprised of the following:
			Nine Months Ended September 30,
			2014				2013
	Accretion of servicer advance interest income		$	153,790			$	—
	Accretion of excess mortgage servicing rights income		37,703				30,541
	Accretion of net discount on securities and loans(A)		30,127				9,644
	Amortization of deferred financing costs		(7,675		)		(29		)
			$	213,945			$	40,156
	(A)    Includes accretion of the accretable yield on PCI loans.

SEGMENT_REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
SEGMENT REPORTING	'
	SEGMENT REPORTING
	New Residential conducts its business through the following segments: (i) investments in Excess MSRs, (ii) investments in servicer advances, (iii) investments in real estate securities, (iv) investments in real estate loans, (v) investments in consumer loans, and (vi) corporate. The corporate segment consists primarily of (i) general and administrative expenses, (ii) the allocation of management fees by Newcastle until the spin-off on May 15, 2013, (iii) the management fees and incentive compensation owed to the Manager by New Residential following the spin-off, (iv) corporate cash and related interest income, and (v) the secured corporate loan and related interest expense.
	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:
		Servicing Related Assets				Residential Securities and Loans
		Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
	Three Months Ended September 30, 2014
	Interest income	$	12,914	$	50,967	$	11,179	$	22,526	$	—		$	1		$	97,587
	Interest expense	3		25,157		1,932		5,065		1,149			1			33,307
	Net interest income (expense)	12,911		25,810		9,247		17,461		(1,149		)	—			64,280
	Impairment	—		—		—		1,134		—			—			1,134
	Other income	60,722		22,948		955		14,950		22,490			(1		)	122,064
	Operating expenses	103		4,796		169		3,163		632			16,448			25,311
	Income (Loss) Before Income Taxes	73,530		43,962		10,033		28,114		20,709			(16,449		)	159,899
	Income tax expense	—		7,403		—		306		92			—			7,801
	Net Income (Loss)	$	73,530	$	36,559	$	10,033	$	27,808	$	20,617		$	(16,449	)	$	152,098
	Noncontrolling interests in income	$	—	$	25,726	$	—	$	—	$	—		$	—		$	25,726
	(loss) of consolidated subsidiaries
	Net income (loss) attributable to	$	73,530	$	10,833	$	10,033	$	27,808	$	20,617		$	(16,449	)	$	126,372
	common stockholders
		Servicing Related Assets				Residential Securities and Loans
		Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
	Nine Months Ended September 30, 2014
	Interest income	$	37,703	$	153,790	$	41,939	$	28,300	$	—		$	1		$	261,733
	Interest expense	1,294		86,885		9,513		6,454		4,170			500			108,816
	Net interest income (expense)	36,409		66,905		32,426		21,846		(4,170		)	(499		)	152,917
	Impairment	—		—		943		1,591		—			—			2,534
	Other income	91,943		105,657		59,410		17,808		60,185			—			335,003
	Operating expenses	488		5,815		800		4,140		745			52,744			64,732
	Income (Loss) Before Income Taxes	127,864		166,747		90,093		33,923		55,270			(53,243		)	420,654
	Income tax expense	—		29,085		—		306		92			—			29,483
	Net Income (Loss)	$	127,864	$	137,662	$	90,093	$	33,617	$	55,178		$	(53,243	)	$	391,171
	Noncontrolling interests in income	$	—	$	92,524	$	—	$	—	$	—		$	—		$	92,524
	(loss) of consolidated subsidiaries
	Net income (loss) attributable to	$	127,864	$	45,138	$	90,093	$	33,617	$	55,178		$	(53,243	)	$	298,647
	common stockholders
		Servicing Related Assets				Residential Securities and Loans
		Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
	September 30, 2014
	Investments	$	751,774	$	3,214,113	$	2,079,712	$	1,121,797	$	264,039		$	—		$	7,431,435
	Cash and cash equivalents	—		88,770		13,273		2,889		9,766			72,903			187,601
	Restricted cash	—		29,962		—		—		—			—			29,962
	Derivative assets	—		—		1,115		27,571		—			—			28,686
	Other assets	1,122		7,768		22,879		62,695		609			644			95,717
	Total assets	$	752,896	$	3,340,613	$	2,116,979	$	1,214,952	$	274,414		$	73,547		$	7,773,401
	Debt	$	—	$	2,824,007	$	1,725,737	$	910,856	$	125,000		$	—		$	5,585,600
	Other liabilities	1,715		27,557		214,018		4,973		1,132			82,545			331,940
	Total liabilities	1,715		2,851,564		1,939,755		915,829		126,132			82,545			5,917,540
	Total equity	751,181		489,049		177,224		299,123		148,282			(8,998		)	1,855,861
	Noncontrolling interests in equity	—		280,445		—		—		—			—			280,445
	of consolidated subsidiaries
	Total New Residential	$	751,181	$	208,604	$	177,224	$	299,123	$	148,282		$	(8,998	)	$	1,575,416
	stockholders’ equity
	Investments in equity method	$	342,538	$	—	$	—	$	—	$	264,039		$	—		$	606,577
	investees
		Servicing Related Assets				Residential Securities and Loans
		Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
	Three Months Ended September 30, 2013
	Interest income	$	9,761	$	—	$	11,437	$	683	$	—		$	4		$	21,885
	Interest expense	—		—		3,443		—		—			—			3,443
	Net interest income (expense)	9,761		—		7,994		683		—			4			18,442
	Impairment	—		—		—		—		—			—			—
	Other income	20,853		—		11,213		—		24,129			—			56,195
	Operating expenses	82		—		10		94		1			11,305			11,492
Income (Loss) Before Income Taxes	30,532		—		19,197		589		24,128			(11,301		)	63,145
Income tax expense	—		—		—		—		—			—			—
Net Income (Loss)	$	30,532	$	—	$	19,197	$	589	$	24,128		$	(11,301	)	$	63,145
Noncontrolling interests in income	$	—	$	—	$	—	$	—	$	—		$	—		$	—
(loss) of consolidated subsidiaries
Net income (loss) attributable to	$	30,532	$	—	$	19,197	$	589	$	24,128		$	(11,301	)	$	63,145
common stockholders
	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
Nine Months Ended September 30, 2013
Interest income	$	30,541	$	—	$	28,625	$	1,867	$	—		$	42		$	61,075
Interest expense	—		—		6,993		—		—			—			6,993
Net interest income (expense)	30,541		—		21,632		1,867		—			42			54,082
Impairment	—		—		3,756		—		—			—			3,756
Other income	85,640		—		11,271		—		60,293			—			157,204
Operating expenses	178		—		32		224		1,952			19,702			22,088
Income (Loss) Before Income Taxes	116,003		—		29,115		1,643		58,341			(19,660		)	185,442
Income tax expense	—		—		—		—		—			—			—
Net Income (Loss)	$	116,003	$	—	$	29,115	$	1,643	$	58,341		$	(19,660	)	$	185,442
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	—	$	—	$	—	$	—		$	—		$	—
Net income (loss) attributable to common stockholders	$	116,003	$	—	$	29,115	$	1,643	$	58,341		$	(19,660	)	$	185,442

INVESTMENTS_IN_EXCESS_MORTGAGE

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS	9 Months Ended
	Sep. 30, 2014
Transfers and Servicing [Abstract]	'
INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS	'
	INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS
	Acquisitions
	On January 17, 2014, New Residential completed an additional closing of Excess MSRs that it agreed to acquire as part of a previously committed transaction between Nationstar and First Tennessee Bank. New Residential invested approximately $19.1 million on loans with an aggregate UPB of approximately $8.1 billion.
	On May 12, 2014 New Residential invested approximately $33.9 million to acquire a one-third interest in the Excess MSRs on each of three portfolios of Agency residential mortgage loans with an aggregate UPB of $12.8 billion. Fortress managed funds and Nationstar each agreed to acquire a one-third 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 portfolio. 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.
	On May 13, 2014, New Residential invested approximately $2.2 million to acquire a one-third interest in the Excess MSRs on a portfolio of Agency residential mortgage loans with an aggregate UPB of $0.7 billion. Fortress-managed funds and Nationstar each agreed to acquire a one-third 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 portfolio. 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.
	On July 8, 2014, New Residential invested approximately $14.2 million to acquire a 32.5% interest in the Excess MSRs on a portfolio of Agency residential mortgage loans with an aggregate UPB of $5.9 billion. Fortress-managed funds and Nationstar agreed to acquire a 32.5% and 35.0% interest in the Excess MSRs, respectively. New Residential also invested approximately $5.7 million to acquire a one-third interest in the Excess MSRs on a portfolio of Agency residential mortgage loans with an aggregate UPB of $2.1 billion. Fortress-managed funds and Nationstar each agreed to acquire a one-third 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 each of the portfolios. Under the terms of these investments, to the extent that any loans in the portfolios 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.
	New Residential has entered into a “Recapture Agreement” in each of the Excess MSR investments to date, including those Excess MSR investments made through investments in joint ventures (Note 5). As described above, 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. These Recapture Agreements do not apply to New Residential’s investments in servicer advances (Note 6).
	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-14													31-Dec-13
		Unpaid Principal Balance ("UPB") of Underlying Mortgages			Interest in Excess MSR		Weighted Average Life Years(A)		Amortized Cost Basis(B)			Carrying Value(C)			Carrying Value
	Agency
	Original and Recaptured Pools	$	46,264,414		32.5%-66.7%		5.5		$	134,087		$	176,482		$	120,271
	Recapture Agreements	—			32.5%-66.7%		12.5		8,760			29,868			24,389
		46,264,414					5.9		142,847			206,350			144,660
	Non-Agency(D)
	Original and Recaptured Pools	$	52,776,751		33.3%-80.0%		5.2		$	151,734		$	193,676		$	173,007
	Recapture Agreements	—			33.3%-80.0%		12.7		11,265			9,210			6,484
		52,776,751					5.7		162,999			202,886			179,491
	Total	$	99,041,165				5.8		$	305,846		$	409,236		$	324,151
	(A)	Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
	(B)	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.
	(C)	Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.
	(D)	Excess MSR investments in which New Residential also invested in related servicer advances, including the basic fee component of the related MSR as of September 30, 2014 (Note 6).
	Changes in fair value recorded in other income is comprised of the following:
			Three Months Ended September 30,							Nine Months Ended September 30,
			2014			2013				2014			2013
	Original and Recaptured Pools		$	24,124		$	(238	)		$	34,012		$	36,240
	Recapture Agreements		4,442			446				6,658			7,659
			$	28,566		$	208			$	40,670		$	43,899
	In the third quarter of 2014, a weighted average discount rate of 10.0% was used to value New Residential's investments in Excess MSRs (directly and through equity method investees).
	The table below summarizes the geographic distribution of the underlying residential mortgage loans of the direct investments in Excess MSRs:
			Percentage of Total Outstanding Unpaid Principal Amount as of
	State Concentration		30-Sep-14		31-Dec-13
	California		31.2	%	31.5	%
	Florida		7.8	%	9.8	%
	New York		4.3	%	4.9	%
	Maryland		4.1	%	3.5	%
	Washington		4	%	3.9	%
	Texas		3.6	%	4	%
	Virginia		3.3	%	3.1	%
	Arizona		3.2	%	3.5	%
	New Jersey		3.2	%	3.3	%
	Illinois		3.1	%	2.7	%
	Other U.S.		32.2	%	29.8	%
			100	%	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_EXCESS_MORTGAGE1

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES	9 Months Ended
	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES	'
	INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES
	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 financial results of the Excess MSR joint ventures, accounted for as equity method investees, held by New Residential:
			September 30, 2014				December 31, 2013
	Excess MSR assets		$	679,146			$	703,681
	Other assets		10,075				5,534
	Debt		—				—
	Other liabilities		(4,146		)		(3,683		)
	Equity		$	685,075			$	705,532
	New Residential's investment		$	342,538			$	352,766
	New Residential's ownership		50		%		50		%
			Three Months Ended September 30,								Nine months ended September 30,
			2014				2013				2014			2013
	Interest income		$	18,341			$	16,745			$	54,126		$	30,501
	Other income		45,354				25,109				47,843			56,483
	Expenses		(29		)		(564		)		(70		)	(3,502		)
	Net income		$	63,666			$	41,290			$	101,899		$	83,482
	New Residential’s investments in equity method investees changed during the nine months ended September 30, 2014 as follows:
	Balance at December 31, 2013	$	352,766
	Contributions to equity method investees	—
	Distributions of earnings from equity method investees	(34,680		)
	Distributions of capital from equity method investees	(26,498		)
	Change in fair value of investments in equity method investees	50,950
	Balance at September 30, 2014	$	342,538
	The following is a summary of New Residential’s Excess MSR investments made through equity method investees:
		September 30, 2014
		Unpaid Principal Balance				Investee Interest in  Excess MSR			New Residential Interest in Investees			Amortized Cost Basis(A)			Carrying Value(B)		Weighted Average Life (Years)(C)
	Agency
	Original and Recaptured Pools	$	91,366,989			66.7	%		50	%		$	309,094		$	378,367	5.1
	Recapture Agreements	—				66.7	%		50	%		72,681			92,033		12.5
		91,366,989										381,775			470,400		6.5
	Non-Agency(D)
	Original and Recaptured Pools	61,069,238				66.7%-77.0%			50	%		182,665			196,485		5.1
	Recapture Agreements	—				66.7%-77.0%			50	%		12,898			12,261		12.4
		61,069,238										195,563			208,746		5.6
	Total	$	152,436,227									$	577,338		$	679,146	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.
	(D)	Excess MSR investments in which New Residential also invested in related servicer advances, including the basic fee component of the related MSR as of September 30, 2014 (Note 6).
	In the third quarter of 2014, a weighted average discount rate of 10.0% was used to value New Residential's investments in Excess MSRs (directly and 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:
			Percentage of Total Outstanding Unpaid Principal Amount as of
	State Concentration		30-Sep-14			31-Dec-13
	California		23.5	%		23.5	%
	Florida		9	%		9.2	%
	New York		5.5	%		5.3	%
	Texas		4.8	%		4.9	%
	Georgia		4.1	%		4	%
	New Jersey		3.8	%		3.7	%
	Illinois		3.5	%		3.5	%
	Maryland		3.2	%		3.1	%
	Virginia		3.2	%		3.1	%
	Washington		2.8	%		2.8	%
	Other U.S.		36.6	%		36.9	%
			100	%		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_SERVICER_ADVANC

INVESTMENTS IN SERVICER ADVANCES	9 Months Ended
	Sep. 30, 2014
Investments, All Other Investments [Abstract]	'
INVESTMENTS IN SERVICER ADVANCES	'
	INVESTMENTS IN SERVICER ADVANCES
	On December 17, 2013, New Residential and third-party co-investors, through a joint venture entity (Advance Purchaser LLC, the “Buyer”) consolidated by New Residential, agreed to purchase $3.2 billion of outstanding servicer advances on a portfolio of loans, which is a subset of the same portfolio of loans in which New Residential invests in a portion of the Excess MSR (Notes 4 and 5), including the basic fee component of the related MSRs. During the nine months ended September 30, 2014, the Buyer also agreed to purchase outstanding servicer advances on an additional portfolio of loans. As of September 30, 2014, New Residential and third-party co-investors had settled $3.0 billion of servicer advances, net of recoveries, financed with $2.8 billion of notes payables outstanding (Note 11). A taxable wholly owned subsidiary of New Residential is the managing member of the Buyer and owned an approximately 45.0% interest in the Buyer as of September 30, 2014. As of September 30, 2014, noncontrolling third-party investors, owning the remaining interest in the Buyer have funded capital commitments to the Buyer of $389.6 million and New Residential has funded capital commitments to the Buyer of $312.7 million. The Buyer may call capital up to the commitment amount on unfunded commitments and recall capital to the extent the Buyer makes a distribution to the co-investors, including New Residential. As of September 30, 2014, the third-party co-investors and New Residential have previously funded their commitments, however the Buyer may recall $182.0 million and $146.1 million of capital distributed to the third-party co-investors and New Residential, respectively.  Neither the third-party co-investors nor New Residential is obligated to fund amounts in excess of their respective capital commitments, regardless of the capital requirements of the Buyer that holds its investment in servicer advances.
	The Buyer has purchased servicer advances from Nationstar, is required to purchase all future servicer advances made with respect to these pools from Nationstar, and receives cash flows from advance recoveries and the basic fee component of the related MSRs, net of compensation paid back to Nationstar in consideration of Nationstar’s servicing activities. The compensation paid to Nationstar as of September 30, 2014 was approximately 9.2% of the basic fee component of the related MSRs plus a performance fee that represents a portion (up to 100%) of the cash flows in excess of those required for the Buyer to obtain a specified return on its equity.
	New Residential elected to record its investments in servicer advances, including the right to the basic fee component of the related MSRs, 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 market factors.
	The following is a summary of the investments in servicer advances, including the right to the basic fee component of the related MSRs, made by the Buyer, which New Residential consolidates:
		Amortized Cost Basis				Carrying Value(A)				Weighted Average Discount Rate			Weighted Average Life (Years)(B)
	30-Sep-14
	Servicer advances	$	3,108,288			$	3,214,113			5.5	%		4.2
	As of December 31, 2013
	Servicer advances	$	2,665,551			$	2,665,551			5.6	%		2.7
	(A)	Carrying value represents the fair value of the investments in servicer advances, including the basic fee component of the related MSRs.
	(B)	Weighted Average Life represents the weighted average expected timing of the receipt of expected net cash flows for this investment.
			Three Months Ended September 30,								Nine Months Ended September 30,
			2014				2013				2014				2013
	Changes in Fair Value Recorded in		$	22,948			$	—			$	105,825			$	—
	Other Income
	The following is additional information regarding the servicer advances, and related financing, of the Buyer, which New Residential consolidates:
																		Loan-to-Value				Cost of Funds(B)
			UPB of Underlying Residential Mortgage Loans				Outstanding Servicer Advances				Servicer Advances to UPB of Underlying Residential Mortgage Loans			Carrying Value of Notes Payable				Gross		Net(A)		Gross		Net
	September 30, 2014
	Servicer advances(C)		$	97,398,297			$	3,041,905			3.1	%		$	2,824,007			91.5	%	90.5	%	3	%	2.2	%
	December 31, 2013
	Servicer advances(C)		$	43,444,216			$	2,661,130			6.1	%		$	2,390,778			89.8	%	88.6	%	4	%	2.3	%
	(A)	Ratio of face amount of borrowings to par amount of servicer advance collateral, net of an interest reserve maintained by the Buyer.
	(B)	Annualized measure of the cost associated with borrowings. Gross Cost of Funds primarily includes interest expense and facility fees. Net Cost of Funds excludes facility fees.
	(C)	The following types of advances comprise the investments in servicer advances:
			September 30, 2014				December 31, 2013
	Principal and interest advances		$	792,875			$	1,516,715
	Escrow advances (taxes and insurance advances)		1,556,968				934,525
	Foreclosure advances		692,062				209,890
	Total		$	3,041,905			$	2,661,130
	Interest income recognized by New Residential related to its investments in servicer advances was comprised of the following:
			Three Months Ended September 30,								Nine Months Ended September 30,
			2014				2013				2014				2013
	Interest income, gross of amounts attributable to servicer		$	79,116			$	—			$	232,800			$	—
	compensation
	Amounts attributable to base servicer compensation		(18,914		)		—				(68,220		)		—
	Amounts attributable to incentive servicer compensation		(9,235		)		—				(10,790		)		—
	Interest income from investments in servicer advances		$	50,967			$	—			$	153,790			$	—
	Others' interests in the equity of the Buyer is computed as follows:
			30-Sep-14				31-Dec-13
	Total Advance Purchaser LLC equity		$	509,898			$	362,807
	Others' ownership interest		55		%		68.1		%
	Others' interest in equity of consolidated subsidiary		$	280,445			$	247,225
	Others' interests in the Buyer's net income is computed as follows:
			Three Months Ended September 30,								Nine Months Ended September 30,
			2014				2013				2014				2013
	Net Advance Purchaser LLC income		$	46,833			$	—			$	166,227			$	—
	Others' ownership interest as a percent of total(A)		54.9		%		—		%		55.7		%		—		%
	Others' interest in net income (loss) of consolidated subsidiaries		$	25,726			$	—			$	92,524			$	—
	(A)	As a result, New Residential owned 45.1% and 44.3% of the Buyer, on average during the three months ended September 30, 2014 and nine months ended September 30, 2014, respectively.

INVESTMENTS_IN_REAL_ESTATE_SEC

INVESTMENTS IN REAL ESTATE SECURITIES	9 Months Ended
	Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract]	'
INVESTMENTS IN REAL ESTATE SECURITIES	'
	INVESTMENTS IN REAL ESTATE SECURITIES
	During the nine months ended September 30, 2014, New Residential acquired $1.5 billion face amount of Non-Agency RMBS for approximately $977.9 million and $1.3 billion face amount of Agency RMBS for approximately $1.4 billion. The $1.3 billion in Agency RMBS includes $0.3 billion of floating rate securities and $1.0 billion of fixed rate specified pools comprised of new production mortgages that are expected to carry less prepayment risk and warrant a premium relative to TBA pools. New Residential sold Non-Agency RMBS with a face amount of approximately $1.9 billion and an amortized cost basis of approximately $1.2 billion for approximately $1.3 billion, recording a gain on sale of approximately $60.3 million. Furthermore, New Residential sold Agency RMBS with a face amount of $746.9 million and an amortized cost basis of approximately $791.7 million for approximately $796.4 million, recording a gain on sale of approximately $4.7 million.
	On March 6, 2014, Merrill Lynch, Pierce, Fenner & Smith Incorporated and New Residential entered into an agreement pursuant to which New Residential agreed to purchase approximately $625 million face amount of Non-Agency residential mortgage securities for approximately $553 million. The purchased securities were issued by the American General Mortgage Loan Trust 2009-1 and represent 75% of the mezzanine and subordinate tranches (the "2009-1 Retained Certificates") of a securitization sponsored by Third Street Funding LLC, an affiliate of Springleaf. The securitization, including the 2009-1 Retained Certificates, is collateralized by residential mortgage loans with a face amount of approximately $0.9 billion. On May 30, 2014, New Residential sold the 2009-1 Retained Certificates for approximately $598.5 million and recorded a gain of approximately $39.7 million. At the time of sale, the 2009-1 Retained Certificates had an amortized cost basis of approximately $558.8 million. The purchase and sale of the 2009-1 Retained Certificates is included in the purchases and sales described above.
	On May 27, 2014, New Residential exercised its cleanup call option related to sixteen Non-Agency RMBS deals and purchased and retained performing and non-performing residential mortgage loans. New Residential owned $17.4 million face amount of securities in these deals and received par on these securities, which had an amortized cost basis of $12.0 million prior to the repayment. See Note 8 for further details on this transaction.
	On August 25, 2014, New Residential exercised its cleanup call option related to nineteen Non-Agency RMBS deals and purchased and retained performing and non-performing residential mortgage loans. New Residential owned $15.4 million face amount of securities in these deals and received par on these securities, which had an amortized cost basis of $13.1 million prior to the repayment. See Note 8 for further details on this transaction. See Note 18 for recent activities related to the subsequent sale of the majority of these performing loans through a securitization.
	The following is a summary of New Residential’s real estate securities as of September 30, 2014, 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, except for securities that are other-than-temporarily impaired.
									Gross Unrealized												Weighted Average													31-Dec-13
	Asset Type		Outstanding Face Amount			Amortized Cost Basis			Gains				Losses			Carrying Value(A)			Number of Securities		Rating(B)		Coupon			Yield			Life (Years)(C)		Principal Subordination(D)			Carrying Value
	Agency		$	1,697,608		$	1,785,873		$	4,504			$	(5,294	)	$	1,785,083		104		AAA		3.19	%		1.87	%		6.1		N/A			$	1,402,764
	RMBS(E)(F)(G)
	Non-Agency		432,762			287,211			9,876				(2,458		)	294,629			84		CCC		1.72	%		5.63	%		7.7		12.2	%		570,425
	RMBS(H)
	Total/		$	2,130,370		$	2,073,084		$	14,380			$	(7,752	)	$	2,079,712		188		AA-		2.89	%		2.63	%		6.4					$	1,973,189
	Weighted
	Average
	(A)	Fair value, which is equal to carrying value for all securities. See Note 12 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. This excludes the ratings of the collateral underlying six bonds for which New Residential was unable to obtain rating information. For each security rated by multiple rating agencies, the lowest rating is used. New Residential used an implied AAA rating for the Agency RMBS. 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 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 $6.4 million.
	(G)	The total outstanding face amount was $1.0 billion for fixed rate securities and $657.4 million for floating rate securities.
	(H)	The total outstanding face amount was $18.3 million for fixed rate securities and $414.5 million for floating rate securities.
	Unrealized losses that are considered other than temporary are recognized currently in earnings. During the nine months ended September 30, 2014, New Residential recorded other-than-temporary impairment charges (“OTTI”) of $0.9 million with respect to real estate securities. 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, 2014.
						Amortized Cost Basis																			Weighted Average
	Securities in an Unrealized Loss Position		Outstanding Face Amount			Before Impairment			Other-Than-				After Impairment			Gross Unrealized Losses			Carrying Value			Number of Securities			Rating(B)		Coupon			Yield			Life
									Temporary Impairment(A)																								(Years)
	Less than Twelve		$	992,251		$	977,758		$	(143	)		$	977,615		$	(6,704	)	$	970,911		54			AA		3.36	%		3.15	%		6.6
	Months
	Twelve or More		91,156			97,387			(386		)		97,001			(1,048		)	95,953			17			AA+		3.45	%		1.96	%		4.9
	Months
	Total/Weighted		$	1,083,407		$	1,075,145		$	(529	)		$	1,074,616		$	(7,752	)	$	1,066,864		71			AA		3.37	%		3.05	%		6.4
	Average
	(A)	This amount represents other-than-temporary impairment recorded on securities that are in an unrealized loss position as of September 30, 2014.
	(B)	The weighted average rating of securities in an unrealized loss position for less than twelve months excludes the rating of six bonds for which New Residential was unable to obtain rating information.
	New Residential performed an assessment of all of its debt securities that are in an unrealized loss position (an unrealized loss position exists when a security’s amortized cost basis, excluding the effect of OTTI, exceeds its fair value) and determined the following:
		September 30, 2014
								Unrealized Losses
		Fair Value			Amortized Cost Basis After Impairment			Credit(A)				Non-Credit(B)
	Securities New Residential intends to sell(C)	$	—		$	—		$	—			$	—
	Securities New Residential is more likely than not to be	—			—			—				N/A
	required to sell(D)
	Securities New Residential has no intent to sell and is not
	more likely than not to be required to sell:
	Credit impaired securities	71,755			71,821			(529		)		(595		)
	Non credit impaired securities	995,637			1,002,795			—				(7,157		)
	Total debt securities in an unrealized loss position	$	1,067,392		$	1,074,616		$	(529	)		$	(7,752	)
	(A)	This amount is required to be recorded as other-than-temporary impairment through earnings. In measuring the portion of credit losses, New Residential’s management estimates the expected cash flow for each of the securities. This evaluation includes a review of the credit status and the performance of the collateral supporting those securities, including the credit of the issuer, key terms of the securities and the effect of local, industry and broader economic trends. Significant inputs in estimating the cash flows include management’s expectations of prepayment speeds, default rates and loss severities. Credit losses are measured as the decline in the present value of the expected future cash flows discounted at the investment’s effective interest rate.
	(B)	This amount represents unrealized losses on securities that are due to non-credit factors and recorded through other comprehensive income.
	(C)	A portion of securities New Residential intends to sell have a fair value equal to their amortized cost basis after impairment, and, therefore do not have unrealized losses reflected in other comprehensive income as of September 30, 2014.
	(D)	New Residential may, at times, be more likely than not to be required to sell certain securities for liquidity purposes. While the amount of the securities to be sold may be an estimate, and the securities to be sold have not yet been identified, New Residential must make its best estimate, which is subject to significant judgment regarding future events, and may differ materially from actual future sales.
	The following table summarizes the activity related to credit losses on debt securities:
		Nine Months Ended September 30, 2014
	Beginning balance of credit losses on debt securities for which a portion of an OTTI was	$	2,071
	recognized in other comprehensive income
	Increases to credit losses on securities for which an OTTI was previously recognized and a portion	464
	of an OTTI was recognized in other comprehensive income
	Additions for credit losses on securities for which an OTTI was not previously recognized	151
	Reductions for securities for which the amount previously recognized in other comprehensive	—
	income was recognized in earnings because the entity intends to sell the security or more likely
	than not will be required to sell the security before recovery of its amortized cost basis
	Reduction for credit losses on securities for which no OTTI was recognized in other	(552		)
comprehensive income at the current measurement date
Reduction for securities sold during the period	(1,605		)
Ending balance of credit losses on debt securities for which a portion of an OTTI was recognized	$	529
in other comprehensive income
The table below summarizes the geographic distribution of the collateral securing New Residential’s Non-Agency RMBS:
		30-Sep-14					31-Dec-13
Geographic Location		Outstanding Face Amount			Percentage of Total Outstanding		Outstanding Face Amount				Percentage of Total Outstanding
Western U.S.		$	110,692		25.6	%	$	317,111			36.3	%
Southeastern U.S.		97,618			22.5	%	198,298				22.7	%
Northeastern U.S.		76,957			17.8	%	164,481				18.9	%
Midwestern U.S.		65,262			15.1	%	98,682				11.3	%
Southwestern U.S.		42,117			9.7	%	51,425				5.9	%
Other(A)		40,116			9.3	%	42,869				4.9	%
		$	432,762		100	%	$	872,866			100	%
(A)	Represents collateral for which New Residential was unable to obtain geographic information.
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, 2014, the face amount of these real estate securities was $384.5 million, with total expected cash flows of $364.5 million and a fair value of $277.7 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:
	Outstanding Face Amount			Carrying Value
September 30, 2014	$	179,446		$	140,475
December 31, 2013	729,895			483,680
The following is a summary of the changes in accretable yield for these securities:
	Nine Months Ended September 30, 2014
Balance at December 31, 2013	$	143,067
Additions	86,810
Accretion	(10,947		)
Reclassifications to non-accretable difference	(8,654		)
Disposals	(156,193		)
Balance at September 30, 2014	$	54,083
See Note 18 for recent activities related to New Residential's investments in real estate securities.

INVESTMENTS_IN_RESIDENTIAL_MOR

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS	9 Months Ended
	Sep. 30, 2014
Receivables [Abstract]	'
INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS	'
	INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS
	During the nine months ended September 30, 2014, New Residential acquired several portfolios of performing and non-performing residential mortgage loans as discussed below:
	•	On April 4, 2014, New Residential purchased a portfolio of non-performing residential mortgage loans out of a securitization trust with a UPB of approximately $17.8 million at a price of approximately $15.5 million. New Residential recognized a loss for the difference between the price paid and fair value of the loans acquired of $11.3 million.
	•	On May 27, 2014, New Residential exercised its cleanup call option related to sixteen Non-Agency RMBS deals and purchased performing and non-performing residential mortgage loans with a UPB of approximately $283.6 million at a price of approximately $288.5 million. New Residential securitized approximately $233.8 million in UPB of performing loans, which was recorded as a sale for accounting purposes, and recognized a net gain on settlement of investments of approximately $2.6 million. New Residential retained performing and non-performing loans with a UPB of approximately $48.4 million at a price of $40.1 million. Additionally, New Residential acquired $1.3 million of real estate owned.
	•	On May 28, 2014, New Residential purchased a portfolio of non-performing residential mortgage loans with a UPB of approximately $500.3 million at a price of approximately $373.1 million.
	•	On June 24, 2014, New Residential purchased a portfolio of performing and non-performing residential mortgage loans with a UPB of approximately $82.3 million at a price of approximately $58.9 million. Additionally, New Residential acquired approximately $2.1 million of real estate owned.
	•	On August 12, 2014, New Residential purchased a portfolio of performing and non-performing residential mortgage loans with a UPB of approximately $111.8 million at a price of approximately $86.7 million.
	•	On August 25, 2014, New Residential exercised its cleanup call option related to nineteen Non-Agency RMBS deals and purchased performing and non-performing residential mortgage loans with a UPB of approximately $530.1 million at a price of approximately $536.3 million. Additionally, New Residential acquired $3.0 million of real estate owned.
	Loans are accounted for based on management’s strategy for the loan, and on whether the loan was credit-impaired at the date of acquisition. Purchased loans that New Residential has the intent and ability to hold for the foreseeable future or until maturity or payoff are classified as held-for-investment. Alternatively, loans acquired with the intent to sell are classified as held-for-sale. New Residential accounts for loans based on the following categories:
	•	Reverse Mortgage Loans
	•	Performing Loans
	•	Purchased Credit Impaired (“PCI”) Loans
	•	Loans Held-for-Sale ("HFS")
	•	Real Estate Owned ("REO")
	•	Linked Transactions (treated as derivatives, Note 10)
	The following table presents certain information regarding New Residential's residential mortgage loans outstanding by loan type, excluding REO and linked transactions at September 30, 2014 and December 31, 2013, respectively.
			September 30, 2014
			Outstanding Face Amount				Carrying		Loan		Weighted Average Yield		Weighted Average Life (Years)(A)	Floating Rate Loans as a % of Face Amount		Loan to Value Ratio ("LTV")(B)		Weighted Avg. Delinquency(C)		Weighted Average FICO(D)	December 31, 2013 Carrying Value
							Value		Count
	Loan Type
	Reverse Mortgage Loans(E)(F)		$	49,759			$	28,226	228		10.3	%	3.8	20.6	%	107	%	79.6	%	N/A	$	33,539
	Performing Loans(G)(H)		127,824				100,856		697		5.1	%	4.3	12.8	%	108	%	3.9	%	608	—
	Purchased Credit Impaired ("PCI") Loans(H)(I)		665,682				500,316		2,394		6	%	2.2	43.4	%	115	%	92.7	%	559	—
	Total Residential Mortgage Loans, held-for-		$	843,265			$	629,398	3,319		6.1	%	2.6	37.4	%	113	%	78.5	%	567	$	33,539
	investment
	Residential Mortgage Loans, held-for-sale(H)		$	463,639			$	492,399	2,364		3.9	%	6.7	2.7	%	125	%	—	%	704	$	—
	(A)	The weighted average life is based on the expected timing of the receipt of cash flows.
	(B)	LTV refers to the ratio comparing the loan’s unpaid principal balance to the value of the collateral property.
	(C)	Represents the percentage of the total principal balance that are 60+ days delinquent, none of which are on non-accrual status.
	(D)	The weighted average FICO score is based on the weighted average of information updated and provided by the loan servicer on a monthly basis.
	(E)	Represents a 70% interest New Residential holds in reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.3 million. 78% of these loans have reached a termination event. As a result, the borrower can no longer make draws on these loans. Each loan matures upon the occurrence of a termination event.
	(F)	FICO scores are not used in determining how much a borrower can access via a reverse mortgage loan.
	(G)	Includes loans that are current or less than 30 days past due at acquisition.
	(H)	Carrying value includes accrued interest receivable.
	(I)	Includes loans that are 30 days or more past due at acquisition.
	New Residential generally considers the delinquency status, loan-to-value ratios, and geographic area of residential mortgage loans as its credit quality indicators. Delinquency status is a primary credit quality indicator as loans that are more than 30 days past due provide an early warning of borrowers who may be experiencing financial difficulties. For residential mortgage loans, the current LTV ratio is an indicator of the potential loss severity in the event of default. Finally, the geographic distribution of the loan collateral also provides insight as to the credit quality of the portfolio, as factors such as the regional economy, home price changes and specific events will affect credit quality.
	The table below summarizes the geographic distribution of the underlying residential mortgage loans as of September 30, 2014:
			Percentage of Total Outstanding Unpaid Principal Amount as of
	State Concentration		30-Sep-14			31-Dec-13
	California		23	%		5.7	%
	New York		16.7	%		22	%
	New Jersey		8.3	%		6.9	%
	Illinois		5.8	%		7.7	%
	Florida		4.5	%		21.2	%
	Maryland		4	%		2.8	%
	Connecticut		3.3	%		3.9	%
	Massachusetts		3.1	%		4.1	%
	Washington		3	%		3.9	%
	Pennsylvania		2.9	%		0.9	%
	Other U.S.		25.4	%		20.9	%
			100	%		100	%
	Reverse 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 $83.1 million as of December 31, 2012. New Residential invested approximately $35.1 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.
	Performing Loans
	Performing loans are carried at the aggregate unpaid principal balance adjusted for any unamortized premium or discount, deferred fees or expenses, allowance for loan losses, charge-offs and write-downs for impaired loans. Interest income on performing loans is accrued and recognized as interest income at their effective yield, which includes contractual interest and the amortization of discount (or premium) and deferred fees or expenses.
	A loan is determined to be past due when a monthly payment is due and unpaid for 30 days or more. Loans, other than PCI loans, are placed on nonaccrual status and considered non-performing when full payment of principal and interest is in doubt, which generally occurs when principal or interest is 120 days or more past due unless the loan is both well secured and in the process of collection. A loan may be returned to accrual status when repayment is reasonably assured and there has been demonstrated performance under the terms of the loan or, if applicable, the terms of the restructured loan.
	The following table provides past due information for New Residential's Performing Loans, which is an important indicator of credit quality and the establishment of the allowance for loan losses:
	September 30, 2014
	Days Past Due		Delinquency Status(A)
	Current		74.9	%
	30-59		21.2	%
	60-89		2.3	%
	90-119(B)		0.8	%
120+		0.8	%
		100	%
(A)	Represents the percentage of the total principal balance that corresponds to loans that are in each delinquency status.
(B)	Includes loans 90-119 days past due and still accruing because they are generally placed on nonaccrual status at 120 days or more past due.
Activities related to the carrying value of reverse mortgage loans and performing loans were as follows:
	For the Nine Months Ended September 30, 2014
	Reverse Mortgage Loans				Performing Loans
Balance at December 31, 2013	$	33,539			$	—
Purchases/additional fundings	—				107,626
Proceeds from repayments	(2,143		)		(9,205		)
Accretion of loan discount and other amortization	4,819				2,171
Transfer of loans to other assets	(7,165		)		—
Transfer of loans held for sale	—				—
Reversal of valuation provision on loans transferred to other assets	54				—
Allowance for loan losses	(878		)		(713		)
Balance at September 30, 2014	$	28,226			$	99,879
Impairment on loans, other than PCI loans, 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 and results in New Residential establishing a valuation provision or an allowance for loan losses.
Activities related to the valuation provision on reverse mortgage loans and allowance for loan losses on performing loans were as follows:
	For the Nine Months Ended September 30, 2014
	Reverse Mortgage Loans				Performing Loans
Balance at December 31, 2013	$	461			$	—
Charge-offs(A)	—				—
Reversal of valuation provision on loans transferred to other assets	(54		)		—
Allowance for loan losses(B)	878				713
Balance at September 30, 2014	$	1,285			$	713
(A)	Loans, other than PCI loans, are generally charged off or charged down to the net realizable value of the collateral (i.e., fair value less costs to sell), with an offset to the allowance for loan losses, when available information confirms that loans are uncollectible.
(B)	Based on an analysis of collective borrower performance, credit ratings of borrowers, loan-to-value ratios, estimated value of the underlying collateral, key terms of the loans and historical and anticipated trends in defaults and loss severities at a pool level.
Purchased Credit Impaired Loans
New Residential determined at acquisition that the PCI loans acquired would be aggregated into pools based on common risk characteristics (FICO score, delinquency status, collateral type, loan-to-value ratio) and aggregated a total of six pools. Loans aggregated into pools are accounted for as if each pool were a single loan with a single composite interest rate and an aggregate expectation of cash flows.
The following is the contractually required payments receivable, cash flows expected to be collected, and fair value at acquisition date for loans acquired during the nine months ended September 30, 2014:
		Contractually Required Payments Receivable				Cash Flows Expected to be Collected		Fair Value
As of Acquisition Date		$	1,307,248			$	635,787	$	508,603
The following is the unpaid principal balance and carrying value for loans, for which, as of the acquisition date, it was probable that New Residential would be unable to collect all contractually required payments:
	Unpaid Principal Balance				Carrying Value
September 30, 2014	$	665,682			$	500,316
December 31, 2013	—				—
The following is a summary of the changes in accretable yield for these loans:
	For the Nine Months Ended September 30, 2014
Balance at December 31, 2013	$	—
Additions	127,184
Accretion	(16,772		)
Reclassifications from non-accretable difference(A)	5,322
Disposals(B)	(4,122		)
Balance at September 30, 2014(C)	$	111,612
(A)	Represents a probable and significant increase in cash flows previously expected to be uncollectible.
(B)	Includes sales of loans or foreclosures, which result in removal of the loan from the PCI loan pool at its carrying amount.
(C)	New Residential has not encountered probable decreases in expected cash flows and therefore, has no allowance for loan losses.
Loans Held-for-Sale
Loans held-for-sale are measured at the lower of cost or fair value, with valuation changes recorded in other income. Interest income on loans held-for-sale is accrued and recognized based on the contractual rate of interest. Loans held-for-sale are subject to the nonaccrual policy described within the Performing Loans section. As loans held-for-sale are recognized at the lower of cost or fair value, New Residential’s allowance for loan losses and charge-off policies do not apply to these loans.
		For the Nine Months Ended September 30, 2014
		Loans Held-for-Sale
Balance at December 31, 2013		$	—
Purchases		490,806
Proceeds from repayments		(556		)
Valuation provision on loans		—
Balance at September 30, 2014		$	490,250
Real estate owned (REO)
New Residential recognizes REO assets at the completion of the foreclosure process or upon execution of a deed in lieu of foreclosure with the borrower. REO assets are managed for prompt sale and disposition at the best possible economic value.
During the nine months ended September 30, 2014, New Residential received properties in satisfaction of non-performing residential mortgage loans included in the PCI loan portfolio. In addition, New Residential acquired properties through its purchases of residential mortgage loan portfolios. As a result, New Residential has recognized REO assets totaling approximately $19.8 million as of September 30, 2014. As of September 30, 2014, New Residential had PCI residential mortgage loans that were in the process of foreclosure with an unpaid principal balance of $366.0 million. In addition, see below regarding REO acquired through linked transactions.
Linked Transactions
In the first quarter of 2014, New Residential invested in portfolios of non-performing loans and financed the transactions with the same counterparties from which it purchased them. New Residential accounts for the contemporaneous purchase of the investments and the associated financings as linked transactions. Accordingly, New Residential recorded a non-hedge derivative instrument on a net basis, with changes in market value recorded as Other Income in the Condensed Consolidated Statements of Income. For further information on the transactions, see below and Note 10.
On January 15, 2014, New Residential purchased a portfolio of non-performing residential mortgage loans with a UPB of approximately $65.6 million at a price of approximately $33.7 million. To finance this purchase, on January 15, 2014, New Residential entered into a $25.3 million repurchase agreement with Credit Suisse ("CS"). The repurchase agreement, which contains customary covenants and event of default provisions and is subject to margin calls, matures on January 15, 2015. This purchase was accounted for as a linked transaction (Note 10).
On March 28, 2014, New Residential purchased a portfolio of non-performing mortgage loans with a UPB of approximately $7.0 million at a price of approximately $3.8 million. The investment was financed with a $2.5 million master repurchase agreement with The Royal Bank of Scotland ("RBS"). The repurchase agreement, which contains customary covenants and event of default provisions and is subject to margin calls, matures on November 24, 2014. This acquisition is accounted for as a "linked transaction" (Note 10).
During the nine months ended September 30, 2014, New Residential received properties in satisfaction of non-performing residential mortgage loans included in the portfolios acquired from CS and RBS accounted for as linked transactions. As a result, New Residential has recognized REO assets totaling approximately $32.9 million, as of September 30, 2014. As of September 30, 2014 and December 31, 2013, New Residential had residential mortgage loans accounted for as linked transactions that were in the process of foreclosure with an unpaid principal balance of $126.5 million and $0.0 million, respectively.
On October 28, 2014, New Residential sold a portion of its linked transactions for net proceeds of approximately $23.7 million (Note 18).

INVESTMENTS_IN_CONSUMER_LOANS_

INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES	9 Months Ended
	Sep. 30, 2014
Investments In Consumer Loans Equity Method Investees	'
INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES	'
	INVESTMENTS IN CONSUMER LOANS, 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 included 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 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 ($1.1 billion outstanding as of September 30, 2014) of the approximately $3.0 billion purchase price with asset-backed notes. In September 2013, the Consumer Loan Companies issued and sold an additional $0.4 billion ($0.3 billion outstanding as of September 30, 2014) of asset-backed notes for 96% of par. These notes were 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 became the servicer of the loans and provides all servicing and advancing functions for the portfolio. See Note 18 for recent activities related to New Residential's debt obligations.
	The following tables summarize the investment in the Consumer Loan Companies held by New Residential:
			September 30, 2014				December 31, 2013
	Consumer loan assets		$	2,192,487			$	2,572,577
	Other assets		163,824				192,830
	Debt(A)		(1,458,277		)		(2,010,433		)
	Other liabilities		(17,904		)		(32,712		)
	Equity		$	880,130			$	722,262
	New Residential's investment		$	264,039			$	215,062
	New Residential's ownership		30		%		30		%
	(A)	Represents the Class A asset-backed notes with a face amount of $1.1 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 $0.3 billion, an interest rate of 4.0% and a maturity of December 2024. Substantially all of the net cash flow generated by the Consumer Loan Companies was required to be used to pay down the Class A notes. In June 2014, the balance of the outstanding Class A notes was reduced to 50% of the outstanding UPB of the performing consumer loans and the managing member was reimbursed by the Consumer Loan Companies for accumulated expenses. Prospectively, 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. See Note 18 for recent activities related to the debt at the Consumer Loan Companies.
			Three Months Ended September 30,								Nine Months Ended September 30,
			2014				2013				2014				2013
	Interest income		$	129,551			$	157,692			$	407,995			$	325,822
	Interest expense		(17,685		)		(22,420		)		(57,986		)		(47,010		)
	Provision for finance receivable		(20,494		)		(30,568		)		(82,313		)		(31,122		)
	losses
	Other expenses, net		(17,925		)		(24,272		)		(57,656		)		(46,713		)
	Change in fair value of debt		1,522				—				(14,810		)		—
	Net income		$	74,969			$	80,432			$	195,230			$	200,977
	New Residential's equity in net		$	22,490			$	24,129			$	60,185			$	60,293
	income
	New Residential's ownership		30		%		30		%		30		%		30		%
	The following is a summary of New Residential’s consumer loan investments made through equity method investees:
		Unpaid Principal Balance				Interest in  Consumer Loan Companies			Carrying Value(B)				Weighted Average Coupon(C)			Weighted Average Yield		Weighted Average Expected Life (Years)(D)
	30-Sep-14	$	2,827,355		(A)	30	%		$	2,192,487			18.2	%		16.9	%	3.5
	31-Dec-13	$	3,298,769			30	%		$	2,572,577			18.3	%		15.9	%	3.2
	(A)	Represents the August 31, 2014 balance.
	(B)	Represents the carrying value of the consumer loans held by the Consumer Loan Companies.
	(C)	Substantially all of the cash flows received on the loans is required to be used to make payments on the notes described above.
	(D)	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, 2014 as follows:
			For the Nine Months Ended September 30, 2014
	Balance at December 31, 2013		$	215,062
	Contributions to equity method investees		—
	Distributions of earnings from equity method investees(A)		(11,208		)
	Distributions of capital from equity method investees		—
	Earnings from investments in consumer loan equity method investees		60,185
	Balance at September 30, 2014		$	264,039
	(A)	During the nine months ended September 30, 2014, the Consumer Loan Companies distributed $10.6 million in cash to, and made $0.6 million in tax withholding payments on behalf of, New Residential. The tax withholding payments were considered a non-cash distribution.

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
DERIVATIVES	'
	DERIVATIVES
	As of September 30, 2014, New Residential’s derivative instruments included both economic hedges that were not designated as hedges for accounting purposes as well as non-performing loans accounted for as linked transactions that were not entered into for risk management purposes or for hedging activity. New Residential uses economic hedges to hedge a portion of its interest rate risk exposure. Interest rate risk is sensitive to many factors including governmental monetary and tax policies, domestic and international economic and political considerations and other factors. New Residential’s credit risk with respect to economic hedges and linked transactions is the risk of default on New Residential’s investments that results from a borrower’s or counterparty’s inability or unwillingness to make contractually required payments.
	New Residential entered into three interest rate swap agreements during March and April 2014, where New Residential receives floating rate payments in exchange for fixed rate payments, without exchanging the notional principal amounts. The agreements represented a total notional amount of $500.0 million with an original maturity of three years and were settled during the second quarter. During the third quarter of 2014, New Residential entered into eleven new swap agreements representing a total notional amount of $1.6 billion as of September 30, 2014, with maturities of two to ten years.
	As of September 30, 2014, New Residential held to-be-announced forward contract positions (“TBAs”) of $1.3 billion in a short notional amount of Agency RMBS and any amounts or obligations owed by or to New Residential are subject to the right of set-off with the TBA counterparty. New Residential’s net short position in TBAs of $1.3 billion notional was entered into as an economic hedge in order to mitigate New Residential’s interest rate risk on certain residential mortgage loans and specified mortgage backed securities.
	See Note 18 for recent activities related to New Residential's derivatives.
	New Residential’s derivatives are recorded at fair value on the Condensed Consolidated Balance Sheets as follows:
		Balance Sheet Location		30-Sep-14				31-Dec-13
	Derivative assets
	Real Estate Securities(A)	Derivative assets		$	—			$	1,452
	Non-Performing Loans(A)	Derivative assets		27,571				34,474
	TBAs	Derivative assets		1,115				—
				$	28,686			$	35,926
	Derivate liabilities
	Real Estate Securities	Accrued expenses and other liabilities		$	—			$	18
	Interest Rate Swaps	Accrued expenses and other liabilities		345				—
				$	345			$	18
	(A)	Investments purchased from, and financed by, the selling counterparty that New Residential accounts for as linked transactions and are reflected as derivatives.
	The following table summarizes notional amounts related to derivatives:
		September 30, 2014				December 31, 2013
	Non-Performing Loans(A)	$	161,561			$	164,598
	Real Estate Securities(B)	—				10,000
	TBAs, short position(C)	1,301,000				—
	Interest Rate Swaps, short position(D)	1,595,000				—
	(A)	Represents the UPB of the underlying loans of the non-performing loan pools within linked transactions.
	(B)	Represents the face amount of the real estate securities within linked transactions.
	(C)	Represents the notional amount of Agency RMBS, classified as derivatives.
	(D)	Receive LIBOR and pay a fixed rate.
	The following table summarizes gains (losses) recorded in relation to derivatives:
			For the Three Months Ended September 30,				For the Nine Months Ended September 30,
			2014				2014
	Other income (loss)
	Non-Performing Loans(A)		$	5,111			$	4,797
	Real Estate Securities(A)		—				26
	TBAs		33				263
	Interest Rate Swaps		(345		)		(2,731		)
			4,799				2,355
	Gain (loss) on settlement of investments
	Real Estate Securities(A)		—				43
	TBAs		(2,403		)		(6,405		)
	U.S.T. Short Positions		—				176
			(2,403		)		(6,186		)
	Total gains (losses)		$	2,396			$	(3,831	)
	(A)	Investments purchased from, and financed by, the selling counterparty that New Residential accounts for as linked transactions and are reflected as derivatives.
	The following table presents both gross and net information about linked transactions:
		30-Sep-14				31-Dec-13
	Non-Performing Loans
	Non-performing loan assets, at fair value(A)	$	96,836			$	95,014
	Repurchase agreements(B)	(69,265		)		(60,540		)
		27,571				34,474
	Real Estate Securities
	Real estate securities, at fair value(C)	—				9,952
	Repurchase agreements(B)	—				(8,500		)
		—				1,452
	Net assets recognized as linked transactions	$	27,571			$	35,926
	(A)	Non-performing loans that had a UPB of $161.6 million as of September 30, 2014, which represented the notional amount of the linked transaction and accrued interest.
	(B)	Represents carrying amount that approximates fair value.
	(C)	Real estate securities that had a current face amount of $10.0 million as of December 31, 2013, which represented the notional amount of the linked transaction.

DEBT_OBLIGATIONS

DEBT OBLIGATIONS	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
DEBT OBLIGATIONS	'
	DEBT OBLIGATIONS
	The following table presents certain information regarding New Residential’s debt obligations:
	September 30, 2014(A)																								31-Dec-13
																		Collateral
	Debt Obligations/Collateral		Month Issued			Outstanding Face Amount				Carrying Value				Final Stated Maturity	Weighted Average Funding Cost		Weighted Average Life (Years)	Outstanding Face		Amortized Cost Basis		Carrying Value		Weighted Average Life (Years)	Carrying Value
	Repurchase Agreements (B)
	Agency		Various			$	1,510,765			$	1,510,765			14-Oct	0.31	%	0.1	$	1,500,141	$	1,571,199	$	1,570,328	6.3	$	1,332,954
	RMBS (C)
	Non-Agency		Various			214,972				214,972				14-Oct	1.79	%	0.1	323,438		260,995		267,769		8.4	287,757
	RMBS (D)
	Residential		Various			871,659				871,659				Nov-14 to Aug-16	2.6	%	1.8	1,257,145		1,089,677		1,093,571		4.1	—
	Mortgage
	Loans(E)
	Consumer		14-Jan			125,000				125,000				15-Jan	3.45	%	0.3	N/A		N/A		264,039		3.5	—
	Loans(F)
	Real Estate		Various			15,953				15,953				Nov-14 to Aug-16	2.89	%	0.4	N/A		N/A		38,840		N/A	—
	Owned(G)
	Total					2,738,349				2,738,349					1.31	%	0.6								1,620,711
	Repurchase
	Agreements
	Notes Payable
	Secured		—			—				—				—	—	%	—	—		—		—		—	75,000
	Corporate
	Loan
	Servicer		Various			2,824,007				2,824,007				Mar-15 to Mar-17	2.99	%	2	3,041,905		3,108,288		3,214,113		4.2	2,390,778
	Advances(H)
	Residential		13-Dec			23,244				23,244				14-Oct	3.41	%	0.1	49,759		29,511		28,226		3.8	22,840
	Mortgage
	Loans(I)
	Total Notes					2,847,251				2,847,251					2.99	%	2								2,488,618
	Payable
	Total/ Weighted					$	5,585,600			$	5,585,600				2.17	%	1.3								$	4,109,329
	Average
	(A)	Excludes debt related to linked transactions (Note 10).
	(B)	These repurchase agreements had approximately $1.0 million of associated accrued interest payable as of September 30, 2014.
	(C)	The counterparties of these repurchase agreements are Mizuho ($288.1 million), Morgan Stanley ($78.0 million), Barclays ($644.7 million), Daiwa ($146.5 million) and Jefferies ($353.5 million) and were subject to customary margin call provisions.
	(D)	The counterparties of these repurchase agreements are Barclays ($8.2 million), Credit Suisse ($49.6 million), Royal Bank of Scotland ($102.3 million), Royal Bank of Canada ($11.7 million), Bank of America ($1.9 million), Goldman Sachs ($27.2 million) and UBS ($14.0 million) and were subject to customary margin call provisions. All of the Non-Agency repurchase agreements have LIBOR-based floating interest rates.
	(E)	The counterparties on these repurchase agreements are Bank of America N.A. ($531.0 million), Nomura ($317.6 million), Citibank ($16.1 million) and Royal Bank of Scotland ($6.9 million). All of these repurchase agreements have LIBOR-based floating interest rates.
	(F)	The repurchase agreement is payable to Credit Suisse and bears interest equal to one-month LIBOR plus 2.0%.
	(G)	The counterparties of these repurchase agreements are Royal Bank of Scotland ($9.4 million), Credit Suisse ($3.3 million), Bank of America, N.A. ($2.0 million) and Nomura ($1.3 million).  All of these repurchase agreements have LIBOR-based floating interest rates.
	(H)	$1.3 billion face amount of the notes have a fixed rate while the remaining notes bear interest equal to the sum of (i) a floating rate index rate equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.3% to 2.4%.
	(I)	The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 3.25%.
	Certain of the debt obligations included above are obligations of New Residential’s consolidated subsidiaries, which own the related collateral. In some cases, including the servicer advances, such collateral is not available to other creditors of New Residential.
	New Residential has margin exposure on $2.7 billion of repurchase agreements. To the extent that the value of the collateral underlying these repurchase agreements declines, New Residential may be required to post margin, which could significantly impact its liquidity.
	As of September 30, 2014, New Residential held TBA positions of $1.3 billion in a short notional amount of Agency RMBS and any amounts or obligations owed by or to New Residential are subject to the right of set-off with the TBA counterparty (Note 10). As part of executing these trades, New Residential has entered into agreements with its TBA counterparties that govern the transactions for the TBA purchases or sales made, including margin maintenance, payment and transfer, events of default, settlements, and various other provisions. New Residential has fulfilled all obligations and requirements entered into under these agreements.
	Servicer Advances
	In February 2014, the Buyer and special purpose subsidiaries of Buyer entered into an advance facility with Bank of America, N.A. (the “BANA Facility”). The notes issued pursuant to the BANA Facility had an advance rate of approximately 90%, an interest rate generally equal to the sum of one-month LIBOR plus a margin of approximately 2.5%, borrowing capacity of up to $1.0 billion, and a maturity date in September 2014.
	In March 2014, the Buyer prepaid all of the notes issued pursuant to one servicer advance facility and a portion of the notes issued pursuant to another servicer advance facility. The notes were prepaid with the proceeds of new notes issued pursuant to an advance receivables trust (the “NRART Master Trust”) that issued (i) variable funding notes (“VFNs”) with borrowing capacity of up to $1.1 billion and (ii) $1.0 billion of term notes (“Term Notes”) to institutional investors. The VFNs generally bear interest at a rate equal to the sum of (i) LIBOR or a cost of funds rate plus (ii) a spread of 1.375% to 2.5% depending on the class of the notes. The expected repayment date of the VFNs is March 2015. The Term Notes generally bear interest at approximately 2.0% and have expected repayment dates in March 2015 and March 2017. The VFNs and the Term Notes are secured by servicer advances, and the financing is nonrecourse to the Buyer, except for customary recourse provisions.
	On May 2, 2014, New Residential obtained financing from Morgan Stanley to settle its purchase of $617.5 million of additional servicer advances. Borrowings under the facility bear an interest rate equal to 2.1% and have an expected repayment date in May 2016.  This financing is nonrecourse to the Buyer, except for customary recourse provisions.
	On July 18, 2014, the Buyer received $26.7 million in proceeds from the refinancing of the note issued under the Bank of America facility.  The Bank of America note was prepaid with proceeds of a new note issued to J.P. Morgan. The note issued to J.P. Morgan has a fixed interest rate equal to 2.45% with an expected repayment date of July 2016. As of September 30, 2014, the principal balance of this note was approximately $457.3 million.
	On July 25, 2014, the Buyer received $12.1 million in proceeds from the refinancing of the Credit Suisse facility with notes issued to Morgan Stanley and J.P. Morgan.
	Real Estate Securities
	On March 6, 2014, Merrill Lynch, Pierce, Fenner & Smith Incorporated and New Residential entered into an agreement pursuant to which it agreed to purchase approximately $625 million face amount of Non-Agency residential mortgage securities for approximately $553 million. The purchased securities were issued by the American General Mortgage Loan Trust 2009-1 and represent 75% of the mezzanine and subordinate tranches (the 2009-1 Retained Certificates) of a securitization sponsored by Third Street Funding LLC, an affiliate of Springleaf. The securitization, including the 2009-1 Retained Certificates, is collateralized by residential mortgage loans with a face amount of approximately $0.9 billion. On March 31, 2014, New Residential obtained approximately $415 million in financing from Merrill Lynch, Pierce, Fenner & Smith Incorporated to settle its purchase of the 2009-1 Retained Certificates (Note 7). On May 30, 2014, New Residential sold the 2009-1 Retained Certificates for approximately $598.5 million and recorded a gain of approximately $39.7 million. At the time of sale, the 2009-1 Retained Certificates had an amortized cost basis of approximately $558.8 million. New Residential used a portion of the proceeds from the sale of the 2009-1 Retained Certificates to pay off the outstanding balance of this facility.
	Real Estate Loans
	On January 15, 2014, New Residential entered into a $25.3 million repurchase agreement with Credit Suisse Securities (USA) LLC which matures on January 14, 2015. Borrowings under the agreement bear interest equal to the sum of (i) a floating rate index rate equal to one-month LIBOR and (ii) a margin of 3.00%. The agreement contains customary covenants and event of default provisions, including event of default provisions triggered by a 50% equity decline as of the end of the corresponding period in the prior fiscal year, or a 35% equity decline as of the end of the quarter immediately preceding the most recently completed fiscal quarter and a four-to-one indebtedness to tangible net worth provision.
	On May 15, 2014, New Residential obtained financing from Citibank to settle its purchase of $48.4 million of residential loans.  Borrowings under this facility bear an interest rate equal to the sum of (i) LIBOR and (ii) 2.75% with a maturity date of May 14, 2015. The facility contains customary covenants, event of default provisions, and is subject to required monthly principal payments.
	On May 28, 2014 and May 30, 2014 New Residential obtained financing from Nomura Corporate Funding Americas, LLC to settle its purchase of $478.7 million and $21.6 million of residential mortgage loans, respectively. Borrowings under the agreement bear interest equal to the sum of (i) a floating rate index rate equal to one-month LIBOR and (ii) a margin of 2.75% and have an expected repayment date of May 28, 2016. The agreement contains customary covenants and event of default provisions.
	On June 24, 2014, New Residential obtained financing from Nomura to settle its purchase of $85.3 million of residential loans.  Borrowings under this facility bear an interest rate equal to the sum of (i) LIBOR and (ii) 2.75% with a maturity date of June 24, 2015. This financing is nonrecourse to the buyer, except for customary recourse provisions.
	On August 12, 2014, August 25, 2014 and September 8, 2014, New Residential entered into a repurchase agreement with Bank of America N.A. for $66.8 million, $467.3 million and $6.7 million, respectively, which matures on August 12, 2016. Borrowings under the agreement bear interest equal to the sum of (i) a floating rate index rate equal to one-month LIBOR and (ii) a margin of 2.25%. The agreement contains customary covenants and event of default provisions.
	Other
	On January 8, 2014, New Residential financed all of its ownership interest in each of the Consumer Loan Companies under a $150.0 million ($125.0 million outstanding as of September 30, 2014) master repurchase agreement with Credit Suisse Securities (USA) LLC maturing on June 30, 2014.  On June 30, 2014, New Residential extended this agreement to mature on January 30, 2015.  Borrowings on this extension bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a spread of 2.00% (reduced from a spread of 4.00%).  This facility contains customary covenants, event of default provisions, and is subject to required monthly principal payments.
	In June 2014, New Residential paid off the outstanding secured corporate loan with Credit Suisse First Boston Mortgage LLC for approximately $69.1 million.
	See Note 18 for recent activities related to New Residential's debt obligations.
Maturities
New Residential’s debt obligations as of September 30, 2014 had contractual maturities as follows:
Year		Nonrecourse				Recourse(A)				Total
October 1 through December 31, 2014		$	652,913			$	1,112,384			$	1,765,297
2015		614,507				144,396				758,903
2016		2,019,011				532,989				2,552,000
2017		509,400				—				509,400
		$	3,795,831			$	1,789,769			$	5,585,600
(A)	Excludes recourse debt related to linked transactions (Note 10).
Borrowing Capacity
The following table represents New Residential’s borrowing capacity as of September 30, 2014 :
Debt Obligations/ Collateral		Collateral Type		Borrowing Capacity				Balance Outstanding				Available Financing
Repurchase Agreements
Residential Mortgage Loans(A)		Real Estate Loans		$	1,503,992			$	933,511			$	570,481
Notes Payable
Servicer Advances(B)		Servicer Advances		4,305,200				2,824,007				1,481,193
				$	5,809,192			$	3,757,518			$	2,051,674
(A)	Includes $300.0 million of borrowing capacity and $49.2 million of balance outstanding related to one of New Residential's linked transactions (Note 10).
(B)	New Residential’s unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions. New Residential pays a 0.5% fee on the unused borrowing capacity.
New Residential was in compliance with all of its debt covenants as of September 30, 2014.

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
FAIR VALUE OF FINANCIAL INSTRUMENTS	'
	FAIR VALUE OF FINANCIAL INSTRUMENTS
	The carrying values and fair values of New Residential’s financial assets recorded at fair value on a recurring basis, as well as other financial instruments for which fair value is disclosed, as of September 30, 2014 were as follows:
										Fair Value
		Principal Balance or Notional Amount				Carrying Value				Level 1				Level 2				Level 3			Total
	Assets:
	Investments in:
	Excess mortgage servicing rights, at fair	$	99,041,165			$	409,236			$	—			$	—			$	409,236		$	409,236
	value(A)
	Excess mortgage servicing rights, equity	152,436,227				342,538				—				—				342,538			342,538
	method investees, at fair value(A)
	Servicer advances	3,041,905				3,214,113				—				—				3,214,113			3,214,113
	Real estate securities, available-for-sale	2,130,370				2,079,712				—				1,785,083				294,629			2,079,712
	Residential mortgage loans, held for	843,265				626,941				—				—				638,901			638,901
	investment(B)(C)
	Residential mortgage loans, held for	463,639				490,250				—				—				491,575			491,575
	sale(C)
	Non-hedge derivatives(D)	1,462,561				28,686				—				1,115				27,571			28,686
	Cash and cash equivalents	187,601				187,601				187,601				—				—			187,601
	Restricted cash	29,962				29,962				29,962				—				—			29,962
						$	7,409,039			$	217,563			$	1,786,198			$	5,418,563		$	7,422,324
	Liabilities:
	Repurchase agreements	$	2,738,349			$	2,738,349			$	—			$	1,725,737			$	1,012,612		$	2,738,349
	Notes payable	2,847,251				2,847,251				—				1,081,673				1,768,743			2,850,416
	Derivative liabilities	1,595,000				345				—				345				—			345
						$	5,585,945			$	—			$	2,807,755			$	2,781,355		$	5,589,110
	(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 non-performing loans in Agency portfolios.
	(B)	The notional amount represents the total unpaid principal balance of the mortgage loans for residential mortgage loans, held for investment.
	(C)	Carrying value excludes accrued interest receivable.
	(D)	The notional amount for linked transactions consists of the aggregate UPB amount of the loans that comprise the asset portion of the linked transaction.
	New Residential’s financial assets measured at fair value on a recurring basis using Level 3 inputs changed during the nine months ended September 30, 2014 as follows:
		Level 3
		Excess MSRs(A)								Excess MSRs in Equity Method Investees(A)(B)
		Agency				Non-Agency				Agency				Non-Agency				Servicer Advances			Non-Agency RMBS			Linked Transactions			Total
	Balance at December 31, 2013	$	144,660			$	179,491			$	245,399			$	107,367			$	2,665,551		$	570,425		$	35,926		$	3,948,819
	Transfers(C)
	Transfers from Level 3	—				—				—				—				—			—			—			—
	Transfers to Level 3	—				—				—				—				—			—			—			—
	Gains (losses) included in net income
	Included in other-than-temporary	—				—				—				—				—			(479		)	—			(479		)
	impairment (“OTTI”) on securities(D)
	Included in change in fair value of	19,590				21,080				—				—				—			—			—			40,670
	investments in excess mortgage
	servicing rights(D)
	Included in change in fair value of	—				—				15,062				8,825				—			—			—			23,887
	investments in excess mortgage
	servicing rights, equity method
	investees(D)
	Included in change in fair value of	—				—				—				—				105,825			—			—			105,825
	investments in servicer advances
	Included in gain on settlement of	—				—				—				—				—			60,296			—			60,296
	investments
	Included in other income(D)	323				—				—				—				—			—			4,840			5,163
	Gains (losses) included in other	—				—				—				—				—			3,753			—			3,753
	comprehensive income, net of tax(E)
	Interest income	15,808				21,895				18,847				8,216				153,790			16,972			—			235,528
	Purchases, sales and repayments
	Purchases	56,074				19,132				—				—				5,569,238			977,877			9,758			6,632,079
	Purchase adjustments	(59		)		405				—				—				—			—			—			346
	Proceeds from sales	—				—				—				—				—			(1,273,191		)	(1,495		)	(1,274,686		)
	Proceeds from repayments	(30,046		)		(39,117		)		(41,406		)		(19,772		)		(5,280,291		)	(61,024		)	(9,001		)	(5,480,657		)
	Transfers to REO(F)	—				—				—				—				—			—			(12,457		)	(12,457		)
	Balance at September 30, 2014	$	206,350			$	202,886			$	237,902			$	104,636			$	3,214,113		$	294,629		$	27,571		$	4,288,087
	(A)	Includes the Recapture Agreement for each respective pool.
(B)	Amounts represent New Residential’s portion of the Excess MSRs held by the respective joint ventures in which New Residential has a 50% interest.
(C)	Transfers are assumed to occur at the beginning of the respective period.
(D)	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.
(E)	These gains (losses) were included in net unrealized gain (loss) on securities in the Condensed Consolidated Statements of Comprehensive Income.
(F)	Represents value of residential mortgage loans transferred to REO net of associated repurchase financing agreements.
Investments in Excess MSRs and Excess MSRs Equity Method Investees Valuation
The following table summarizes certain information regarding the weighted average inputs used in valuing the Excess MSRs owned directly and through equity method investees as of September 30, 2014:
		Significant Inputs(A)
Directly Held (Note 4)		Prepayment Speed(B)			Delinquency(C)			Recapture Rate(D)			Excess Mortgage Servicing Amount
											(bps)(E)
Agency
Original and Recaptured Pools		11.9	%		8.2	%		30.8	%		22
Recapture Agreement		8.1	%		4.6	%		35	%		20
		11.6	%		7.9	%		31.1	%		22
Non-Agency(F)
Original and Recaptured Pools		11.9	%		N/A			9.9	%		15
Recapture Agreement		8	%		N/A			35	%		21
		11.6	%		N/A			11.6	%		15
Total/Weighted Average--Directly Held		11.6	%		7.9	%		20.7	%		18
Held through Equity Method Investees (Note 5)
Agency
Original and Recaptured Pools		14.3	%		7.2	%		32.8	%		19
Recapture Agreement		8	%		5	%		35	%		22
		13.1	%		6.8	%		33.2	%		19
Non-Agency(F)
Original and Recaptured Pools		11.9	%		N/A			9.9	%		12
Recapture Agreement		8	%		N/A			35	%		19
		11.6	%		N/A			11.5	%		12
Total/Weighted Average--Held through Investees		12.6	%		6.8	%		25.9	%		17
Total/Weighted Average--All Pools		12.2	%		7.1	%		24.1	%		17
(A)	Weighted by amortized cost basis of the mortgage loan portfolio.
(B)	Projected annualized weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector.
(C)	Projected percentage of mortgage loans in the pool that will miss their mortgage payments.
(D)	Percentage of voluntarily prepaid loans that are expected to be refinanced by Nationstar.
(E)	Weighted average total mortgage servicing amount in excess of the basic fee.
(F)	For certain pools, the Excess MSR will be paid on the total UPB of the mortgage portfolio (including both performing and delinquent loans until REO). For these pools, no delinquency assumption is used.
In the third quarter of 2014, a weighted average discount rate of 10.0% was used to value New Residential's investments in Excess MSRs (directly and through equity method investees).
Investments in Servicer Advances Valuation
The following table summarizes certain information regarding the inputs used in valuing the servicer advances:
	Significant Inputs
	Weighted Average
	Outstanding Servicer Advances to UPB of Underlying Residential Mortgage Loans			Prepayment Speed			Delinquency			Mortgage Servicing Amount(A)			Discount Rate
September 30, 2014	2.1	%		11.7	%		16.6	%		19.6		bps	5.5	%
December 31, 2013	2.7	%		13.2	%		20	%		21.2		bps	5.6	%
(A)	Mortgage servicing amount excludes the 2 basis points New Residential pays Nationstar as a monthly servicing fee.
Real Estate Securities Valuation
As of September 30, 2014, 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)				Single Quote(B)				Total			Level
Agency RMBS		$	1,697,608			$	1,785,873			$	1,736,126			$	48,957			$	1,785,083		2
Non-Agency RMBS		432,762				287,211				281,375				13,254				294,629			3
Total		$	2,130,370			$	2,073,084			$	2,017,501			$	62,211			$	2,079,712
(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.
(B)	Management was unable to obtain quotations from more than one source on these securities. The one source was the seller (the party that sold New Residential the security).
Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis
Certain assets are measured at fair value on a nonrecurring basis; that is, they are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances such as when there is evidence of impairment. For residential mortgage loans held-for-sale and foreclosed real estate accounted for as REO, New Residential applies the lower of cost or fair value accounting and may be required, from time to time, to record a nonrecurring fair value adjustment.
The fair value of New Residential’s residential mortgage loans held-for-sale are estimated based on a discounted cash flow model analysis using internal pricing models and are categorized within Level 3 of the fair value hierarchy. The fair value of REO is estimated using a broker’s price opinion discounted based upon New Residential’s experience with actual liquidation values and, therefore, is categorized within Level 3 of the fair value hierarchy. As of September 30, 2014, such assets did not show evidence of impairment and continued to be measured at cost.
Residential Mortgage Loans for Which Fair Value is Only Disclosed
The fair value of New Residential’s residential mortgage loans held-for-investment are estimated based on a discounted cash flow model analysis using internal pricing models and are categorized within Level 3 of the fair value hierarchy.
For reverse mortgage loans, 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.
The following table summarizes the inputs used in valuing reverse mortgage loans as of September 30, 2014:
													Significant Inputs
Loan Type		Carrying Value(A)				Fair Value(A)				Valuation Provision/ (Reversal) In Current Year			Discount Rate			Weighted Average Life (Years)(B)
Reverse Mortgage Loans		$	28,226			$	28,226			824			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.
For performing loans, the significant inputs to these models include discount rates and market-based assumptions for prepayment speed and default.
Loan Type		Carrying Value				Fair Value				Discount Rate			Prepayment Rate			CDR(A)
Performing Loans		$	99,879			$	104,758			5.1	%		5.2	%		1.6	%
(A)	Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.
For non-performing loans, the significant inputs to these models include discount rates, loss severities, and market-based assumptions regarding the timing and amount of expected cash flows primarily based upon the performance of the loan pool and liquidation attributes.
Loan Type		Carrying Value				Fair Value				Discount Rate			CDR(A)			Loss Severity
Non-Performing Loans		$	498,836			$	505,917			6	%		3	%		31.1	%
(A)	Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.
Derivative Valuation
New Residential financed certain investments with the same counterparty from which it purchased those investments, and accounts for the contemporaneous purchase of the investments and the associated financings as linked transactions (Note 10). The linked transactions are valued on a net basis considering their underlying components, the investment value and the related repurchase financing agreement value, generally determined consistently with the relevant instruments as described in this note. Values of investments in non-performing loans are estimated based on a discounted cash flow analysis using internal pricing models that employ market-based assumptions regarding the timing and amount of expected cash flows primarily based upon the performance of the loan pool and liquidation attributes. The linked transactions, which are categorized as Level 3, are recorded as a non-hedge derivative instrument on a net basis.
New Residential also enters into economic hedges including interest rate swaps and TBAs, which are categorized as Level 2 in the valuation hierarchy. Management generally values such derivatives using quotations, similarly to the method of valuation used for New Residential’s other assets that are categorized as Level 2.
Liabilities for Which Fair Value is Only Disclosed
Repurchase agreements and notes payable are not measured at fair value; however, management believes that their carrying value approximates fair value. Repurchase agreements and notes payable are generally considered to be Level 2 and Level 3 in the valuation hierarchy, respectively, with significant valuation variables including the amount and timing of expected cash flows, interest rates and collateral funding spreads.
Short-term repurchase agreements and short-term notes payable have an estimated fair value equal to their carrying value due to their short duration and generally floating interest rates. Longer-term notes payable, representing the securitized portion of the servicer advance financing, are valued based on internal models utilizing both observable and unobservable inputs. As of September 30, 2014, these longer-term notes have an estimated fair value of $1,079 million and a carrying value of $1,082 million.

EQUITY_AND_EARNINGS_PER_SHARE

EQUITY AND EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2014
Equity And Earnings Per Share	'
EQUITY AND EARNINGS PER SHARE	'
	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 126,512,823 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 (adjusted for the reverse split described below).
	In April 2014, New Residential issued 13,875,000 shares of its common stock in a public offering at a price to the public of $12.20 per share for net proceeds of approximately $163.8 million. One of New Residential’s executive officers participated in this offering and purchased an additional 500,000 shares at the public offering price for net proceeds of approximately $6.1 million. For the purpose of compensating the Manager for its successful efforts in raising capital for New Residential, in connection with this offering, New Residential granted options to the Manager to purchase 1,437,500 shares of New Residential’s common stock at a price of $12.20, which had a fair value of approximately $1.4 million as of the grant date. The assumptions used in valuing the options were: a 2.87% risk-free rate, a 12.584% dividend yield, 25.66% volatility and a 10 year term.
	An employee of the Manager exercised 107,500 options with a weighted average exercise price of $5.61 on May 7, 2014. Upon exercise, 107,500 shares of common stock of New Residential were issued. Employees of the Manager and one of New Residential's directors exercised an aggregate of 498,500 options with a weighted average exercise price of $5.62 in August 2014. Upon exercise, 276,037 shares of common stock of New Residential were issued.
	New Residential’s Board of Directors authorized a one-for-two reverse stock split on August 5, 2014, subject to stockholder approval. In a special meeting on October 15, 2014, New Residential’s stockholders approved the reverse split. On October 17, 2014, New Residential effected the one-for-two reverse stock split of its common stock. As a result of the reverse stock split, every two shares of New Residential’s common stock were converted into one share of common stock, reducing the number of issued and outstanding shares of New Residential’s common stock from approximately 282.8 million to approximately 141.4 million. The impact of this reverse stock split has been retroactively applied to all periods presented.
	On December 17, 2013, New Residential declared a quarterly dividend of $0.35 per common share and a special cash dividend of $0.15 per common share, totaling $63.3 million, for the quarter ended December 31, 2013. The combined dividend of $0.50 was paid on January 31, 2014. On March 19, 2014, New Residential declared a quarterly dividend of $0.35 per common share, or $44.3 million, for the quarter ended March 31, 2014, which was paid in April 2014. On June 17, 2014, New Residential declared a quarterly dividend of $0.35 per common share and a special cash dividend of $0.15 per common share, totaling $70.6 million, for the quarter ended June 30, 2014. The combined dividend of $0.50 was paid on July 31, 2014. On September 18, 2014, New Residential’s board of directors declared a quarterly dividend of $0.35 per common share, or $49.5 million, for the quarter ended September 30, 2014, which was paid on October 31, 2014 to stockholders of record as of September 29, 2014.
	Approximately 2.4 million shares of New Residential’s common stock were held by Fortress, through its affiliates, and its principals at September 30, 2014.
	In January and June 2014, New Residential issued an aggregate of 25,080 shares of its common stock to its independent directors as compensation.
	Option Plan
	New Residential’s outstanding options at September 30, 2014 consisted of the following:
		Number of Options	Strike Price		Maturity Date
		81,248	$	33.9	11/22/14
		164,999	31.94		1/12/15
		1,000	33.36		8/1/15
		85,000	31.74		11/1/16
		121,000	33.8		1/23/17
		228,000	29.92		4/11/17
		547,583	6.58		3/29/21
		849,916	4.98		9/27/21
		933,583	6.82		4/3/22
		1,132,499	7.34		5/21/22
		1,249,583	7.34		7/31/22
		2,874,998	10.24		1/11/23
		1,149,998	11.48		2/15/23
		4,000	13.58		6/2/23
		1,437,500	12.2		4/30/24
	Total/Weighted Average	10,860,907	$	10.46
	As of September 30, 2014, New Residential’s outstanding options were summarized as follows:
	Held by the Manager	8,970,161
	Issued to the Manager and subsequently transferred to certain of the Manager’s employees	1,843,180
	Issued to the independent directors	5,000
	Issued to the Manager and held by its former employees	42,566
	Total	10,860,907
	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, 2014, based on the treasury stock method, New Residential had 2,955,021 and 3,158,619 dilutive common stock equivalents outstanding, respectively. During the three and nine months ended September 30, 2013, based on the treasury stock method, New Residential had 3,408,249 and 1,754,208 dilutive common stock equivalents outstanding, respectively.
	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 10.7 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.
	Noncontrolling Interests
	Noncontrolling interests is comprised of the interests held by third parties in consolidated entities that hold New Residential’s investments in servicer advances (Note 6).

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	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, 2014, 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, 2014, New Residential had outstanding capital commitments related to investments in the following investment types (also refer to Note 18 for additional capital commitments entered into subsequent to September 30, 2014):
	Excess MSRs — As of September 30, 2014, New Residential had outstanding capital commitments of $8.0 million related to the acquisition of Excess MSRs on a portfolio of PLS residential mortgage loans. See Notes 4 and 5 for information on New Residential’s investments in Excess MSRs. As part of the commitment to acquire these Excess MSRs, New Residential also agreed to purchase cleanup call options related to Non-Agency RMBS collateralized by, and servicer advances related to, the residential mortgage loans underlying the Excess MSRs. See Note 6 for information on New Residential’s investments in servicer advances.
	Servicer Advances — New Residential and third-party co-investors agreed to purchase, through the Buyer, future servicer advances related to Non-Agency mortgage loans. The actual amount of future advances purchased will be based on: (a) the credit and prepayment performance of the underlying loans, (b) the amount of advances recoverable prior to liquidation of the related collateral and (c) the percentage of the loans with respect to which no additional advance obligations are made. The actual amount of future advances is subject to significant uncertainty. See Note 6 for information on New Residential’s investments in servicer advances.
	Residential Mortgage Loans — As part of its investment in residential mortgage loans, New Residential may be required to outlay capital. These capital outflows primarily consist of advance escrow and tax payments, residential maintenance and property disposition fees. The actual amount of these outflows is subject to significant uncertainty. See Note 8 for information on New Residential’s investments in residential mortgage loans.
	Debt Covenants — New Residential’s debt obligations contain various customary loan covenants (Notes 8 and 11).
	Certain Tax-Related Covenants — If New Residential is treated as a successor to Newcastle under applicable U.S. federal income tax rules, and if Newcastle fails to qualify as a REIT, New Residential could be prohibited from electing to be a REIT. Accordingly, Newcastle has (i) represented that it has no knowledge of any fact or circumstance that would cause New Residential to fail to qualify as a REIT, (ii) covenanted to use commercially reasonable efforts to cooperate with New Residential as necessary to enable New Residential to qualify for taxation as a REIT and receive customary legal opinions concerning REIT status, including providing information and representations to New Residential and its tax counsel with respect to the composition of Newcastle’s income and assets, the composition of its stockholders, and its operation as a REIT; and (iii) covenanted to use its reasonable best efforts to maintain its REIT status for each of Newcastle’s taxable years ending on or before December 31, 2014 (unless Newcastle obtains an opinion from a nationally recognized tax counsel or a private letter ruling from the IRS to the effect that Newcastle’s failure to maintain its REIT status will not cause New Residential to fail to qualify as a REIT under the successor REIT rule referred to above). Additionally, New Residential covenanted to use its reasonable best efforts to qualify for taxation as a REIT for its taxable year ended December 31, 2013.

TRANSACTIONS_WITH_AFFILIATES_A

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES	9 Months Ended
	Sep. 30, 2014
Transactions With Affiliates And Affiliated Entities	'
TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES	'
	TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES
	Due to affiliates is comprised of the following amounts:
		September 30, 2014		December 31, 2013
	Management fees	$	1,709	$	1,495
	Incentive compensation	33,111		16,847
	Expense reimbursements and other	321		827
		$	35,141	$	19,169
	Affiliate expenses and fees were comprised of:
		Three Months Ended September 30,				Nine Months Ended September 30,
		2014		2013		2014		2013
	Management fees	$	5,124	$	4,484	$	14,525	$	6,747
	Incentive compensation	10,910		4,470		33,111		5,348
	Expense reimbursements(A)	125		267		375		267
	Total	$	16,159	$	9,221	$	48,011	$	12,362
	(A)	Included in General and Administrative Expenses in the Condensed Consolidated Statements of Income.
	New Residential's board of directors approved a change in the computation of incentive compensation to exclude unrealized gains (or losses) on investments and debt (and any deferred tax impact thereof) as of June 30, 2014. The impact of this change on the six months ended June 30, 2014 was to reduce incentive compensation by $5.5 million.
	See Notes 4, 5, 6, 7, 8, 11, 14 and 18 for a discussion of transactions with Nationstar. As of September 30, 2014, a total face amount of $412.8 million of New Residential’s Non-Agency RMBS portfolio and approximately $41.5 million of New Residential's Agency portfolio was serviced or master serviced by Nationstar. The total UPB of the loans underlying these Nationstar serviced Non-Agency RMBS was approximately $4.0 billion as of September 30, 2014. New Residential holds a limited right to cleanup call options with respect to certain securitization trusts master serviced by Nationstar with an aggregate UPB of underlying mortgage loans of approximately $99.3 billion, whereby, when the outstanding balance falls below a pre-determined threshold, it can effectively purchase the underlying mortgage loans by repaying all of the outstanding securitization financing at par, in exchange for a fee paid to Nationstar. As of September 30, 2014, $601.2 million UPB of New Residential's residential mortgage loans were being serviced by Nationstar. Subsequent to September 30, 2014, $111.8 million UPB of New Residential's residential mortgage loans has transferred to be serviced by Nationstar. As of September 30, 2014, $11.3 million UPB of REO was being serviced by Nationstar.
	See Note 9 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, 2014
Reclassification From Accumulated Other Comprehensive Income Into Net Income	'
RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME	'
	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,						Nine Months Ended September 30,
	Income Components
			2014			2013			2014			2013
	Reclassification of net realized	Gain on settlement of	$	(3,668	)	$	(11,213	)	$	(65,444	)	$	(11,271	)
	(gain) loss on securities into	securities
	earnings
	Reclassification of net realized	Other-than-temporary	—			—			943			3,756
	(gain) loss on securities into	impairment on securities
	earnings
	Total reclassifications		$	(3,668	)	$	(11,213	)	$	(64,501	)	$	(7,515	)

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
INCOME TAXES	'
	INCOME TAXES
	The provision for income taxes consists of the following:
		Three Months Ended September 30,				Nine Months Ended September 30,
		2014		2013		2014		2013
	Current:
	Federal	$	1,677	$	—	$	4,130	$	—
	State and Local	1,285		—		2,868		—
	Total Current Provision	2,962		—		6,998		—
	Deferred:
	Federal	3,621		—		16,857		—
	State and Local	1,218		—		5,628		—
	Total Deferred Provision	4,839		—		22,485		—
	Total Provision for Income Taxes	$	7,801	$	—	$	29,483	$	—
	New Residential intends to qualify as a REIT for the tax years ending December 31, 2013 and 2014. 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 period from January 1 through May 15, 2013.
	New Residential operates a securitization vehicle and has made certain investments, particularly its investments in servicer advances (Note 6) and REO (Note 8), through TRSs that are subject to regular corporate income taxes. In addition, some investments are held through limited partnership interests which are subject to the New York City unincorporated business tax (“UBT”). Regular corporate income taxes on the TRSs and UBT has been provided for in the provision for income taxes. New Residential and its subsidiaries file income tax returns with the U.S. federal government and various state and local jurisdictions beginning with the tax year ending December 31, 2013. Generally, these income tax returns will be subject to tax examinations by tax authorities for a period of three years after the date of filing.
	New Residential had recorded a deferred tax liability of $22.5 million as of September 30, 2014. This deferred tax liability relates to the unrealized gains of $105.8 million from New Residential's investment in servicer advances.
	The increase in the provision for income taxes as of September 30, 2014 is primarily due to an increase in taxable profits subject to corporate income tax rates as well as taxable profits subject to UBT.

RECENT_ACTIVITIES

RECENT ACTIVITIES	9 Months Ended
	Sep. 30, 2014
Recent Activities	'
RECENT ACTIVITIES	'
	RECENT ACTIVITIES
	These financial statements include a discussion of material events that have occurred subsequent to September 30, 2014 (referred to as “subsequent events”) through the issuance of these condensed consolidated financial statements. Events subsequent to that date have not been considered in these financial statements.
	Servicer Advances
	Subsequent to September 30, 2014 and prior to November 5, 2014, the Buyer funded a total of $262.5 million of servicer advances and recovered $320.4 million of existing servicer advances.  Notes payable outstanding decreased by $34.4 million and restricted cash decreased approximately $0.9 million in relation to these fundings. Additionally, the Buyer paid $4.9 million to Nationstar as a contractual incentive fee.
	Real Estate Securities
	Subsequent to September 30, 2014, New Residential acquired Non-Agency RMBS with an aggregate face amount of approximately $980.5 million for approximately $297.7 million, financed with repurchase agreements. New Residential acquired no new Agency RMBS. New Residential sold Non-Agency RMBS with a face amount of $7.7 million and an amortized cost basis of approximately $6.8 million for approximately $6.8 million and recorded no gain. New Residential sold no Agency RMBS.
	Subsequent to September 30, 2014, New Residential financed an additional $200.6 million of Agency RMBS within a repurchase facility as a result of purchases. New Residential also rolled $1.5 billion within various repurchase facilities to mature between November 2014 and January 2015.
	Subsequent to September 30, 2014, New Residential financed an additional $95.4 million of Non-Agency RMBS within various repurchase facilities as a result of purchases. New Residential also rolled $208.9 million within various repurchase facilities to mature between November 2014 and January 2015.
	Residential Mortgage Loans
	On October 3, 2014, New Residential completed a REMIC securitization of performing residential mortgage loans with a UPB
	of approximately $463.6 million for a price of $493.4 million and as a part of the offering, acquired a class of interest-only notes for a purchase price of approximately $25.8 million. The securitization was recorded as a sale for accounting purposes and New Residential recognized a net gain on settlement of investments of approximately $1.2 million. Proceeds from the sale were used to pay down $423.2 million of the repurchase agreement with Bank of America N.A.
	On October 9, 2014, New Residential committed to purchase a primarily reperforming residential mortgage loan portfolio with a UPB of approximately $386.8 million at a price of approximately $357.9 million. The sale is expected to settle on November 21, 2014.
	On October 10, 2014, New Residential purchased two pools of non-performing residential mortgage loans with a UPB of approximately $254.9 million at a price of approximately $188.8 million. The acquisitions of the two pools are expected to settle on November 6, 2014 and December 17, 2014, respectively.
	On October 20, 2014, New Residential extended the note payable to Nationstar related to reverse residential mortgage loans to mature on October 19, 2015.  Borrowings on this extension bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a spread of 2.875% (reduced from a spread of 3.25%).  This facility contains customary covenants, event of default provisions, and is subject to required monthly principal payments.
	On October 28, 2014, New Residential sold a portion of its linked transactions for net proceeds of approximately $23.7 million.
	Consumer Loans
	On October 3, 2014, the Consumer Loan Companies refinanced the Class A and Class B asset-backed notes with approximately $1.5 billion outstanding with an asset-backed securitization for approximately $2.6 billion. The excess proceeds were distributed to the co-investors. New Residential received approximately $337.8 million which reduced New Residential’s basis in the consumer loans investment to $0.0 million and resulted in a gain of approximately $73.8 million. New Residential used the proceeds to pay down the $125.0 million repurchase agreement that was scheduled to mature in January 2015. Subsequent to this refinancing, New Residential has discontinued recording its share of the underlying earnings of the Consumer Loan Companies until such time as their cumulative earnings exceed their cumulative cash distributions.
	Corporate Activities
	On September 18, 2014, New Residential’s board of directors declared a third quarter 2014 dividend of $0.35 per common share or $49.5 million, which was paid on October 31, 2014 to stockholders of record as of September 29, 2014.
	See Note 13 for a discussion of the reverse stock split which was effected on October 17, 2014.

OTHER_INCOME_ASSETS_AND_LIABIL1

OTHER INCOME, ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2014
Other Income Assets And Liabilities	'
Schedule of other income	'
	Other income is comprised of the following:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Gain (loss) on derivative instruments	$	4,799			$	—			$	2,355			$	—
	Gain (loss) on transfer of loans to REO	5,167				—				11,861				—
	Fee earned on deal termination	5,000				—				5,000				—
	Other income	323				—				323				—
		$	15,289			$	—			$	19,539			$	—
Schedule of Gain on Settlement of Investments	'
	Gain on settlement of investments is comprised of the following:
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Gain on sale of real estate securities, net	$	3,668			$	11,213			$	65,444			$	11,271
	Gain (loss) on sale of derivatives	(2,403		)		—				(6,186		)		—
	Gain (loss) on liquidated residential	782				—				782				—
	mortgage loans, held-for-investment
	Gain (loss) on sale of REO	(159		)		—				(801		)		—
	Other gains (losses)	(950		)		—				(1,405		)		—
		$	938			$	11,213			$	57,834			$	11,271
Schedule of other assets and other liabilities	'
	Other assets and liabilities are comprised of the following:
		Other Assets										Accrued Expenses and Other Liabilities
		30-Sep-14				31-Dec-13						30-Sep-14				31-Dec-13
	Margin receivable, net	$	17,220			$	40,132			Interest payable		$	246			$	4,010
	Interest and other receivables	8,530				7,548				Accounts payable		10,586				2,829
	Deferred financing costs, net(A)	5,487				4,773				Derivative liability		345				18
	Other assets	11,740				689				Current taxes payable		584				—
		$	42,977			$	53,142			Other liabilities		19				—
												$	11,780			$	6,857
	(A)	Deferred financing costs is net of accumulated amortization of $8,443 and $768 as of September 30, 2014 and December 31, 2013, respectively.
Schedule of accretion of discount and other amortization	'
	As reflected on the Condensed Consolidated Statements of Cash Flows, accretion and other amortization is comprised of the following:
			Nine Months Ended September 30,
			2014				2013
	Accretion of servicer advance interest income		$	153,790			$	—
	Accretion of excess mortgage servicing rights income		37,703				30,541
	Accretion of net discount on securities and loans(A)		30,127				9,644
	Amortization of deferred financing costs		(7,675		)		(29		)
			$	213,945			$	40,156
	(A)    Includes accretion of the accretable yield on PCI loans.

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
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:
		Servicing Related Assets				Residential Securities and Loans
		Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
	Three Months Ended September 30, 2014
	Interest income	$	12,914	$	50,967	$	11,179	$	22,526	$	—		$	1		$	97,587
	Interest expense	3		25,157		1,932		5,065		1,149			1			33,307
	Net interest income (expense)	12,911		25,810		9,247		17,461		(1,149		)	—			64,280
	Impairment	—		—		—		1,134		—			—			1,134
	Other income	60,722		22,948		955		14,950		22,490			(1		)	122,064
	Operating expenses	103		4,796		169		3,163		632			16,448			25,311
	Income (Loss) Before Income Taxes	73,530		43,962		10,033		28,114		20,709			(16,449		)	159,899
	Income tax expense	—		7,403		—		306		92			—			7,801
	Net Income (Loss)	$	73,530	$	36,559	$	10,033	$	27,808	$	20,617		$	(16,449	)	$	152,098
	Noncontrolling interests in income	$	—	$	25,726	$	—	$	—	$	—		$	—		$	25,726
	(loss) of consolidated subsidiaries
	Net income (loss) attributable to	$	73,530	$	10,833	$	10,033	$	27,808	$	20,617		$	(16,449	)	$	126,372
	common stockholders
		Servicing Related Assets				Residential Securities and Loans
		Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
	Nine Months Ended September 30, 2014
	Interest income	$	37,703	$	153,790	$	41,939	$	28,300	$	—		$	1		$	261,733
	Interest expense	1,294		86,885		9,513		6,454		4,170			500			108,816
	Net interest income (expense)	36,409		66,905		32,426		21,846		(4,170		)	(499		)	152,917
	Impairment	—		—		943		1,591		—			—			2,534
	Other income	91,943		105,657		59,410		17,808		60,185			—			335,003
	Operating expenses	488		5,815		800		4,140		745			52,744			64,732
	Income (Loss) Before Income Taxes	127,864		166,747		90,093		33,923		55,270			(53,243		)	420,654
	Income tax expense	—		29,085		—		306		92			—			29,483
	Net Income (Loss)	$	127,864	$	137,662	$	90,093	$	33,617	$	55,178		$	(53,243	)	$	391,171
	Noncontrolling interests in income	$	—	$	92,524	$	—	$	—	$	—		$	—		$	92,524
	(loss) of consolidated subsidiaries
	Net income (loss) attributable to	$	127,864	$	45,138	$	90,093	$	33,617	$	55,178		$	(53,243	)	$	298,647
	common stockholders
		Servicing Related Assets				Residential Securities and Loans
		Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
	September 30, 2014
	Investments	$	751,774	$	3,214,113	$	2,079,712	$	1,121,797	$	264,039		$	—		$	7,431,435
	Cash and cash equivalents	—		88,770		13,273		2,889		9,766			72,903			187,601
	Restricted cash	—		29,962		—		—		—			—			29,962
	Derivative assets	—		—		1,115		27,571		—			—			28,686
	Other assets	1,122		7,768		22,879		62,695		609			644			95,717
	Total assets	$	752,896	$	3,340,613	$	2,116,979	$	1,214,952	$	274,414		$	73,547		$	7,773,401
	Debt	$	—	$	2,824,007	$	1,725,737	$	910,856	$	125,000		$	—		$	5,585,600
	Other liabilities	1,715		27,557		214,018		4,973		1,132			82,545			331,940
	Total liabilities	1,715		2,851,564		1,939,755		915,829		126,132			82,545			5,917,540
	Total equity	751,181		489,049		177,224		299,123		148,282			(8,998		)	1,855,861
	Noncontrolling interests in equity	—		280,445		—		—		—			—			280,445
	of consolidated subsidiaries
	Total New Residential	$	751,181	$	208,604	$	177,224	$	299,123	$	148,282		$	(8,998	)	$	1,575,416
	stockholders’ equity
	Investments in equity method	$	342,538	$	—	$	—	$	—	$	264,039		$	—		$	606,577
	investees
		Servicing Related Assets				Residential Securities and Loans
		Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
	Three Months Ended September 30, 2013
	Interest income	$	9,761	$	—	$	11,437	$	683	$	—		$	4		$	21,885
	Interest expense	—		—		3,443		—		—			—			3,443
	Net interest income (expense)	9,761		—		7,994		683		—			4			18,442
	Impairment	—		—		—		—		—			—			—
	Other income	20,853		—		11,213		—		24,129			—			56,195
	Operating expenses	82		—		10		94		1			11,305			11,492
	Income (Loss) Before Income Taxes	30,532		—		19,197		589		24,128			(11,301		)	63,145
	Income tax expense	—		—		—		—		—			—			—
Net Income (Loss)	$	30,532	$	—	$	19,197	$	589	$	24,128		$	(11,301	)	$	63,145
Noncontrolling interests in income	$	—	$	—	$	—	$	—	$	—		$	—		$	—
(loss) of consolidated subsidiaries
Net income (loss) attributable to	$	30,532	$	—	$	19,197	$	589	$	24,128		$	(11,301	)	$	63,145
common stockholders
	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
Nine Months Ended September 30, 2013
Interest income	$	30,541	$	—	$	28,625	$	1,867	$	—		$	42		$	61,075
Interest expense	—		—		6,993		—		—			—			6,993
Net interest income (expense)	30,541		—		21,632		1,867		—			42			54,082
Impairment	—		—		3,756		—		—			—			3,756
Other income	85,640		—		11,271		—		60,293			—			157,204
Operating expenses	178		—		32		224		1,952			19,702			22,088
Income (Loss) Before Income Taxes	116,003		—		29,115		1,643		58,341			(19,660		)	185,442
Income tax expense	—		—		—		—		—			—			—
Net Income (Loss)	$	116,003	$	—	$	29,115	$	1,643	$	58,341		$	(19,660	)	$	185,442
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	—	$	—	$	—	$	—		$	—		$	—
Net income (loss) attributable to common stockholders	$	116,003	$	—	$	29,115	$	1,643	$	58,341		$	(19,660	)	$	185,442

INVESTMENTS_IN_EXCESS_MORTGAGE2

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS (Tables)	9 Months Ended
	Sep. 30, 2014
Transfers and Servicing [Abstract]	'
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-14													31-Dec-13
		Unpaid Principal Balance ("UPB") of Underlying Mortgages			Interest in Excess MSR		Weighted Average Life Years(A)		Amortized Cost Basis(B)			Carrying Value(C)			Carrying Value
	Agency
	Original and Recaptured Pools	$	46,264,414		32.5%-66.7%		5.5		$	134,087		$	176,482		$	120,271
	Recapture Agreements	—			32.5%-66.7%		12.5		8,760			29,868			24,389
		46,264,414					5.9		142,847			206,350			144,660
	Non-Agency(D)
	Original and Recaptured Pools	$	52,776,751		33.3%-80.0%		5.2		$	151,734		$	193,676		$	173,007
	Recapture Agreements	—			33.3%-80.0%		12.7		11,265			9,210			6,484
		52,776,751					5.7		162,999			202,886			179,491
	Total	$	99,041,165				5.8		$	305,846		$	409,236		$	324,151
	(A)	Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
	(B)	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.
	(C)	Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.
	(D)	Excess MSR investments in which New Residential also invested in related servicer advances, including the basic fee component of the related MSR as of September 30, 2014 (Note 6).
	Changes in fair value recorded in other income is comprised of the following:
			Three Months Ended September 30,							Nine Months Ended September 30,
			2014			2013				2014			2013
	Original and Recaptured Pools		$	24,124		$	(238	)		$	34,012		$	36,240
	Recapture Agreements		4,442			446				6,658			7,659
			$	28,566		$	208			$	40,670		$	43,899
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:
			Percentage of Total Outstanding Unpaid Principal Amount as of
	State Concentration		30-Sep-14		31-Dec-13
	California		31.2	%	31.5	%
	Florida		7.8	%	9.8	%
	New York		4.3	%	4.9	%
	Maryland		4.1	%	3.5	%
	Washington		4	%	3.9	%
	Texas		3.6	%	4	%
	Virginia		3.3	%	3.1	%
	Arizona		3.2	%	3.5	%
	New Jersey		3.2	%	3.3	%
	Illinois		3.1	%	2.7	%
	Other U.S.		32.2	%	29.8	%
			100	%	100	%

INVESTMENTS_IN_EXCESS_MORTGAGE3

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES (Tables)	9 Months Ended
	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Schedule of investments in excess mortgage servicing rights equity method investees	'
	The following tables summarize the financial results of the Excess MSR joint ventures, accounted for as equity method investees, held by New Residential:
			September 30, 2014				December 31, 2013
	Excess MSR assets		$	679,146			$	703,681
	Other assets		10,075				5,534
	Debt		—				—
	Other liabilities		(4,146		)		(3,683		)
	Equity		$	685,075			$	705,532
	New Residential's investment		$	342,538			$	352,766
	New Residential's ownership		50		%		50		%
			Three Months Ended September 30,								Nine months ended September 30,
			2014				2013				2014			2013
	Interest income		$	18,341			$	16,745			$	54,126		$	30,501
	Other income		45,354				25,109				47,843			56,483
	Expenses		(29		)		(564		)		(70		)	(3,502		)
	Net income		$	63,666			$	41,290			$	101,899		$	83,482
	New Residential’s investments in equity method investees changed during the nine months ended September 30, 2014 as follows:
	Balance at December 31, 2013	$	352,766
	Contributions to equity method investees	—
	Distributions of earnings from equity method investees	(34,680		)
	Distributions of capital from equity method investees	(26,498		)
	Change in fair value of investments in equity method investees	50,950
	Balance at September 30, 2014	$	342,538
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, 2014
		Unpaid Principal Balance				Investee Interest in  Excess MSR			New Residential Interest in Investees			Amortized Cost Basis(A)			Carrying Value(B)		Weighted Average Life (Years)(C)
	Agency
	Original and Recaptured Pools	$	91,366,989			66.7	%		50	%		$	309,094		$	378,367	5.1
	Recapture Agreements	—				66.7	%		50	%		72,681			92,033		12.5
		91,366,989										381,775			470,400		6.5
	Non-Agency(D)
	Original and Recaptured Pools	61,069,238				66.7%-77.0%			50	%		182,665			196,485		5.1
	Recapture Agreements	—				66.7%-77.0%			50	%		12,898			12,261		12.4
		61,069,238										195,563			208,746		5.6
	Total	$	152,436,227									$	577,338		$	679,146	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.
	(D)	Excess MSR investments in which New Residential also invested in related servicer advances, including the basic fee component of the related MSR as of September 30, 2014 (Note 6).
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:
			Percentage of Total Outstanding Unpaid Principal Amount as of
	State Concentration		30-Sep-14			31-Dec-13
	California		23.5	%		23.5	%
	Florida		9	%		9.2	%
	New York		5.5	%		5.3	%
	Texas		4.8	%		4.9	%
	Georgia		4.1	%		4	%
	New Jersey		3.8	%		3.7	%
	Illinois		3.5	%		3.5	%
	Maryland		3.2	%		3.1	%
	Virginia		3.2	%		3.1	%
	Washington		2.8	%		2.8	%
	Other U.S.		36.6	%		36.9	%
			100	%		100	%

INVESTMENTS_IN_SERVICER_ADVANC1

INVESTMENTS IN SERVICER ADVANCES (Tables)	9 Months Ended
	Sep. 30, 2014
Investments, All Other Investments [Abstract]	'
Schedule of investment in servicer advances	'
	The following is a summary of the investments in servicer advances, including the right to the basic fee component of the related MSRs, made by the Buyer, which New Residential consolidates:
		Amortized Cost Basis				Carrying Value(A)				Weighted Average Discount Rate			Weighted Average Life (Years)(B)
	30-Sep-14
	Servicer advances	$	3,108,288			$	3,214,113			5.5	%		4.2
	As of December 31, 2013
	Servicer advances	$	2,665,551			$	2,665,551			5.6	%		2.7
	(A)	Carrying value represents the fair value of the investments in servicer advances, including the basic fee component of the related MSRs.
	(B)	Weighted Average Life represents the weighted average expected timing of the receipt of expected net cash flows for this investment.
			Three Months Ended September 30,								Nine Months Ended September 30,
			2014				2013				2014				2013
	Changes in Fair Value Recorded in		$	22,948			$	—			$	105,825			$	—
	Other Income
	The following is additional information regarding the servicer advances, and related financing, of the Buyer, which New Residential consolidates:
																		Loan-to-Value				Cost of Funds(B)
			UPB of Underlying Residential Mortgage Loans				Outstanding Servicer Advances				Servicer Advances to UPB of Underlying Residential Mortgage Loans			Carrying Value of Notes Payable				Gross		Net(A)		Gross		Net
	September 30, 2014
	Servicer advances(C)		$	97,398,297			$	3,041,905			3.1	%		$	2,824,007			91.5	%	90.5	%	3	%	2.2	%
	December 31, 2013
	Servicer advances(C)		$	43,444,216			$	2,661,130			6.1	%		$	2,390,778			89.8	%	88.6	%	4	%	2.3	%
	(A)	Ratio of face amount of borrowings to par amount of servicer advance collateral, net of an interest reserve maintained by the Buyer.
	(B)	Annualized measure of the cost associated with borrowings. Gross Cost of Funds primarily includes interest expense and facility fees. Net Cost of Funds excludes facility fees.
	(C)	The following types of advances comprise the investments in servicer advances:
			September 30, 2014				December 31, 2013
	Principal and interest advances		$	792,875			$	1,516,715
	Escrow advances (taxes and insurance advances)		1,556,968				934,525
	Foreclosure advances		692,062				209,890
	Total		$	3,041,905			$	2,661,130
Schedule of interest income - servicer advances	'
	Interest income recognized by New Residential related to its investments in servicer advances was comprised of the following:
			Three Months Ended September 30,								Nine Months Ended September 30,
			2014				2013				2014				2013
	Interest income, gross of amounts attributable to servicer		$	79,116			$	—			$	232,800			$	—
	compensation
	Amounts attributable to base servicer compensation		(18,914		)		—				(68,220		)		—
	Amounts attributable to incentive servicer compensation		(9,235		)		—				(10,790		)		—
	Interest income from investments in servicer advances		$	50,967			$	—			$	153,790			$	—
	Others' interests in the equity of the Buyer is computed as follows:
			30-Sep-14				31-Dec-13
	Total Advance Purchaser LLC equity		$	509,898			$	362,807
	Others' ownership interest		55		%		68.1		%
	Others' interest in equity of consolidated subsidiary		$	280,445			$	247,225
	Others' interests in the Buyer's net income is computed as follows:
			Three Months Ended September 30,								Nine Months Ended September 30,
			2014				2013				2014				2013
	Net Advance Purchaser LLC income		$	46,833			$	—			$	166,227			$	—
	Others' ownership interest as a percent of total(A)		54.9		%		—		%		55.7		%		—		%
	Others' interest in net income (loss) of consolidated subsidiaries		$	25,726			$	—			$	92,524			$	—
	(A)	As a result, New Residential owned 45.1% and 44.3% of the Buyer, on average during the three months ended September 30, 2014 and nine months ended September 30, 2014, respectively.

INVESTMENTS_IN_REAL_ESTATE_SEC1

INVESTMENTS IN REAL ESTATE SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract]	'
Schedule of Real Estate Securities	'
	The following is a summary of New Residential’s real estate securities as of September 30, 2014, 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, except for securities that are other-than-temporarily impaired.
									Gross Unrealized												Weighted Average													31-Dec-13
	Asset Type		Outstanding Face Amount			Amortized Cost Basis			Gains				Losses			Carrying Value(A)			Number of Securities		Rating(B)		Coupon			Yield			Life (Years)(C)		Principal Subordination(D)			Carrying Value
	Agency		$	1,697,608		$	1,785,873		$	4,504			$	(5,294	)	$	1,785,083		104		AAA		3.19	%		1.87	%		6.1		N/A			$	1,402,764
	RMBS(E)(F)(G)
	Non-Agency		432,762			287,211			9,876				(2,458		)	294,629			84		CCC		1.72	%		5.63	%		7.7		12.2	%		570,425
	RMBS(H)
	Total/		$	2,130,370		$	2,073,084		$	14,380			$	(7,752	)	$	2,079,712		188		AA-		2.89	%		2.63	%		6.4					$	1,973,189
	Weighted
	Average
	(A)	Fair value, which is equal to carrying value for all securities. See Note 12 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. This excludes the ratings of the collateral underlying six bonds for which New Residential was unable to obtain rating information. For each security rated by multiple rating agencies, the lowest rating is used. New Residential used an implied AAA rating for the Agency RMBS. 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 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 $6.4 million.
	(G)	The total outstanding face amount was $1.0 billion for fixed rate securities and $657.4 million for floating rate securities.
	(H)	The total outstanding face amount was $18.3 million for fixed rate securities and $414.5 million 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, 2014.
						Amortized Cost Basis																			Weighted Average
	Securities in an Unrealized Loss Position		Outstanding Face Amount			Before Impairment			Other-Than-				After Impairment			Gross Unrealized Losses			Carrying Value			Number of Securities			Rating(B)		Coupon			Yield			Life
									Temporary Impairment(A)																								(Years)
	Less than Twelve		$	992,251		$	977,758		$	(143	)		$	977,615		$	(6,704	)	$	970,911		54			AA		3.36	%		3.15	%		6.6
	Months
	Twelve or More		91,156			97,387			(386		)		97,001			(1,048		)	95,953			17			AA+		3.45	%		1.96	%		4.9
	Months
	Total/Weighted		$	1,083,407		$	1,075,145		$	(529	)		$	1,074,616		$	(7,752	)	$	1,066,864		71			AA		3.37	%		3.05	%		6.4
	Average
	(A)	This amount represents other-than-temporary impairment recorded on securities that are in an unrealized loss position as of September 30, 2014.
	(B)	The weighted average rating of securities in an unrealized loss position for less than twelve months excludes the rating of six bonds for which New Residential was unable to obtain rating information.
	New Residential performed an assessment of all of its debt securities that are in an unrealized loss position (an unrealized loss position exists when a security’s amortized cost basis, excluding the effect of OTTI, exceeds its fair value) and determined the following:
		September 30, 2014
								Unrealized Losses
		Fair Value			Amortized Cost Basis After Impairment			Credit(A)				Non-Credit(B)
	Securities New Residential intends to sell(C)	$	—		$	—		$	—			$	—
	Securities New Residential is more likely than not to be	—			—			—				N/A
	required to sell(D)
	Securities New Residential has no intent to sell and is not
	more likely than not to be required to sell:
	Credit impaired securities	71,755			71,821			(529		)		(595		)
	Non credit impaired securities	995,637			1,002,795			—				(7,157		)
	Total debt securities in an unrealized loss position	$	1,067,392		$	1,074,616		$	(529	)		$	(7,752	)
	(A)	This amount is required to be recorded as other-than-temporary impairment through earnings. In measuring the portion of credit losses, New Residential’s management estimates the expected cash flow for each of the securities. This evaluation includes a review of the credit status and the performance of the collateral supporting those securities, including the credit of the issuer, key terms of the securities and the effect of local, industry and broader economic trends. Significant inputs in estimating the cash flows include management’s expectations of prepayment speeds, default rates and loss severities. Credit losses are measured as the decline in the present value of the expected future cash flows discounted at the investment’s effective interest rate.
	(B)	This amount represents unrealized losses on securities that are due to non-credit factors and recorded through other comprehensive income.
	(C)	A portion of securities New Residential intends to sell have a fair value equal to their amortized cost basis after impairment, and, therefore do not have unrealized losses reflected in other comprehensive income as of September 30, 2014.
	(D)	New Residential may, at times, be more likely than not to be required to sell certain securities for liquidity purposes. While the amount of the securities to be sold may be an estimate, and the securities to be sold have not yet been identified, New Residential must make its best estimate, which is subject to significant judgment regarding future events, and may differ materially from actual future sales.
Schedule of credit losses on debt securities	'
	The following table summarizes the activity related to credit losses on debt securities:
		Nine Months Ended September 30, 2014
	Beginning balance of credit losses on debt securities for which a portion of an OTTI was	$	2,071
	recognized in other comprehensive income
	Increases to credit losses on securities for which an OTTI was previously recognized and a portion	464
	of an OTTI was recognized in other comprehensive income
	Additions for credit losses on securities for which an OTTI was not previously recognized	151
	Reductions for securities for which the amount previously recognized in other comprehensive	—
	income was recognized in earnings because the entity intends to sell the security or more likely
	than not will be required to sell the security before recovery of its amortized cost basis
	Reduction for credit losses on securities for which no OTTI was recognized in other	(552		)
	comprehensive income at the current measurement date
	Reduction for securities sold during the period	(1,605		)
	Ending balance of credit losses on debt securities for which a portion of an OTTI was recognized	$	529
	in other comprehensive income
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:
			30-Sep-14					31-Dec-13
	Geographic Location		Outstanding Face Amount			Percentage of Total Outstanding		Outstanding Face Amount				Percentage of Total Outstanding
	Western U.S.		$	110,692		25.6	%	$	317,111			36.3	%
	Southeastern U.S.		97,618			22.5	%	198,298				22.7	%
	Northeastern U.S.		76,957			17.8	%	164,481				18.9	%
	Midwestern U.S.		65,262			15.1	%	98,682				11.3	%
	Southwestern U.S.		42,117			9.7	%	51,425				5.9	%
	Other(A)		40,116			9.3	%	42,869				4.9	%
			$	432,762		100	%	$	872,866			100	%
	(A)	Represents collateral for which New Residential was unable to obtain geographic information.
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:
		Outstanding Face Amount			Carrying Value
	September 30, 2014	$	179,446		$	140,475
	December 31, 2013	729,895			483,680
Summary of changes in accretable yield for securities [Table Text Block]	'
	The following is a summary of the changes in accretable yield for these securities:
		Nine Months Ended September 30, 2014
	Balance at December 31, 2013	$	143,067
	Additions	86,810
	Accretion	(10,947		)
	Reclassifications to non-accretable difference	(8,654		)
	Disposals	(156,193		)
	Balance at September 30, 2014	$	54,083

INVESTMENTS_IN_RESIDENTIAL_MOR1

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS (Tables)	9 Months Ended
	Sep. 30, 2014
Receivables [Abstract]	'
Schedule of residential mortgage loans	'
	The following table presents certain information regarding New Residential's residential mortgage loans outstanding by loan type, excluding REO and linked transactions at September 30, 2014 and December 31, 2013, respectively.
			September 30, 2014
			Outstanding Face Amount				Carrying		Loan		Weighted Average Yield		Weighted Average Life (Years)(A)	Floating Rate Loans as a % of Face Amount		Loan to Value Ratio ("LTV")(B)		Weighted Avg. Delinquency(C)		Weighted Average FICO(D)	December 31, 2013 Carrying Value
							Value		Count
	Loan Type
	Reverse Mortgage Loans(E)(F)		$	49,759			$	28,226	228		10.3	%	3.8	20.6	%	107	%	79.6	%	N/A	$	33,539
	Performing Loans(G)(H)		127,824				100,856		697		5.1	%	4.3	12.8	%	108	%	3.9	%	608	—
	Purchased Credit Impaired ("PCI") Loans(H)(I)		665,682				500,316		2,394		6	%	2.2	43.4	%	115	%	92.7	%	559	—
	Total Residential Mortgage Loans, held-for-		$	843,265			$	629,398	3,319		6.1	%	2.6	37.4	%	113	%	78.5	%	567	$	33,539
	investment
	Residential Mortgage Loans, held-for-sale(H)		$	463,639			$	492,399	2,364		3.9	%	6.7	2.7	%	125	%	—	%	704	$	—
	(A)	The weighted average life is based on the expected timing of the receipt of cash flows.
	(B)	LTV refers to the ratio comparing the loan’s unpaid principal balance to the value of the collateral property.
	(C)	Represents the percentage of the total principal balance that are 60+ days delinquent, none of which are on non-accrual status.
	(D)	The weighted average FICO score is based on the weighted average of information updated and provided by the loan servicer on a monthly basis.
	(E)	Represents a 70% interest New Residential holds in reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.3 million. 78% of these loans have reached a termination event. As a result, the borrower can no longer make draws on these loans. Each loan matures upon the occurrence of a termination event.
	(F)	FICO scores are not used in determining how much a borrower can access via a reverse mortgage loan.
	(G)	Includes loans that are current or less than 30 days past due at acquisition.
	(H)	Carrying value includes accrued interest receivable.
	(I)	Includes loans that are 30 days or more past due at acquisition.
Schedule of geographic distribution of residential mortgage loans	'
	The table below summarizes the geographic distribution of the underlying residential mortgage loans as of September 30, 2014:
			Percentage of Total Outstanding Unpaid Principal Amount as of
	State Concentration		30-Sep-14			31-Dec-13
	California		23	%		5.7	%
	New York		16.7	%		22	%
	New Jersey		8.3	%		6.9	%
	Illinois		5.8	%		7.7	%
	Florida		4.5	%		21.2	%
	Maryland		4	%		2.8	%
	Connecticut		3.3	%		3.9	%
	Massachusetts		3.1	%		4.1	%
	Washington		3	%		3.9	%
	Pennsylvania		2.9	%		0.9	%
	Other U.S.		25.4	%		20.9	%
			100	%		100	%
Past Due Financing Receivables	'
	The following table provides past due information for New Residential's Performing Loans, which is an important indicator of credit quality and the establishment of the allowance for loan losses:
	September 30, 2014
	Days Past Due		Delinquency Status(A)
	Current		74.9	%
	30-59		21.2	%
	60-89		2.3	%
	90-119(B)		0.8	%
	120+		0.8	%
			100	%
	(A)	Represents the percentage of the total principal balance that corresponds to loans that are in each delinquency status.
	(B)	Includes loans 90-119 days past due and still accruing because they are generally placed on nonaccrual status at 120 days or more past due.
Schedule of activity in carrying value and valuation allowance of residential mortgage loans	'
	Activities related to the carrying value of reverse mortgage loans and performing loans were as follows:
		For the Nine Months Ended September 30, 2014
		Reverse Mortgage Loans				Performing Loans
	Balance at December 31, 2013	$	33,539			$	—
	Purchases/additional fundings	—				107,626
	Proceeds from repayments	(2,143		)		(9,205		)
	Accretion of loan discount and other amortization	4,819				2,171
	Transfer of loans to other assets	(7,165		)		—
	Transfer of loans held for sale	—				—
	Reversal of valuation provision on loans transferred to other assets	54				—
	Allowance for loan losses	(878		)		(713		)
	Balance at September 30, 2014	$	28,226			$	99,879
Allowance for credit losses	'
	Activities related to the valuation provision on reverse mortgage loans and allowance for loan losses on performing loans were as follows:
		For the Nine Months Ended September 30, 2014
		Reverse Mortgage Loans				Performing Loans
	Balance at December 31, 2013	$	461			$	—
	Charge-offs(A)	—				—
	Reversal of valuation provision on loans transferred to other assets	(54		)		—
	Allowance for loan losses(B)	878				713
	Balance at September 30, 2014	$	1,285			$	713
	(A)	Loans, other than PCI loans, are generally charged off or charged down to the net realizable value of the collateral (i.e., fair value less costs to sell), with an offset to the allowance for loan losses, when available information confirms that loans are uncollectible.
	(B)	Based on an analysis of collective borrower performance, credit ratings of borrowers, loan-to-value ratios, estimated value of the underlying collateral, key terms of the loans and historical and anticipated trends in defaults and loss severities at a pool level.
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block]	'
	The following is the contractually required payments receivable, cash flows expected to be collected, and fair value at acquisition date for loans acquired during the nine months ended September 30, 2014:
			Contractually Required Payments Receivable				Cash Flows Expected to be Collected		Fair Value
	As of Acquisition Date		$	1,307,248			$	635,787	$	508,603
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Information about Loans	'
	The following is the unpaid principal balance and carrying value for loans, for which, as of the acquisition date, it was probable that New Residential would be unable to collect all contractually required payments:
		Unpaid Principal Balance				Carrying Value
	September 30, 2014	$	665,682			$	500,316
	December 31, 2013	—				—
Schedule of accretable yield of real estate securities	'
	The following is a summary of the changes in accretable yield for these loans:
		For the Nine Months Ended September 30, 2014
	Balance at December 31, 2013	$	—
	Additions	127,184
	Accretion	(16,772		)
	Reclassifications from non-accretable difference(A)	5,322
	Disposals(B)	(4,122		)
	Balance at September 30, 2014(C)	$	111,612
	(A)	Represents a probable and significant increase in cash flows previously expected to be uncollectible.
	(B)	Includes sales of loans or foreclosures, which result in removal of the loan from the PCI loan pool at its carrying amount.
	(C)	New Residential has not encountered probable decreases in expected cash flows and therefore, has no allowance for loan losses.
Schedule of loans held for sale	'
			For the Nine Months Ended September 30, 2014
			Loans Held-for-Sale
	Balance at December 31, 2013		$	—
	Purchases		490,806
	Proceeds from repayments		(556		)
	Valuation provision on loans		—
	Balance at September 30, 2014		$	490,250

INVESTMENTS_IN_CONSUMER_LOANS_1

INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES (Tables)	9 Months Ended
	Sep. 30, 2014
Investments In Consumer Loans Equity Method Investees	'
Schedule of investments in consumer loan equity method investees	'
	The following tables summarize the investment in the Consumer Loan Companies held by New Residential:
			September 30, 2014				December 31, 2013
	Consumer loan assets		$	2,192,487			$	2,572,577
	Other assets		163,824				192,830
	Debt(A)		(1,458,277		)		(2,010,433		)
	Other liabilities		(17,904		)		(32,712		)
	Equity		$	880,130			$	722,262
	New Residential's investment		$	264,039			$	215,062
	New Residential's ownership		30		%		30		%
	(A)	Represents the Class A asset-backed notes with a face amount of $1.1 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 $0.3 billion, an interest rate of 4.0% and a maturity of December 2024. Substantially all of the net cash flow generated by the Consumer Loan Companies was required to be used to pay down the Class A notes. In June 2014, the balance of the outstanding Class A notes was reduced to 50% of the outstanding UPB of the performing consumer loans and the managing member was reimbursed by the Consumer Loan Companies for accumulated expenses. Prospectively, 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. See Note 18 for recent activities related to the debt at the Consumer Loan Companies.
			Three Months Ended September 30,								Nine Months Ended September 30,
			2014				2013				2014				2013
	Interest income		$	129,551			$	157,692			$	407,995			$	325,822
	Interest expense		(17,685		)		(22,420		)		(57,986		)		(47,010		)
	Provision for finance receivable		(20,494		)		(30,568		)		(82,313		)		(31,122		)
	losses
	Other expenses, net		(17,925		)		(24,272		)		(57,656		)		(46,713		)
	Change in fair value of debt		1,522				—				(14,810		)		—
	Net income		$	74,969			$	80,432			$	195,230			$	200,977
	New Residential's equity in net		$	22,490			$	24,129			$	60,185			$	60,293
	income
	New Residential's ownership		30		%		30		%		30		%		30		%
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:
		Unpaid Principal Balance				Interest in  Consumer Loan Companies			Carrying Value(B)				Weighted Average Coupon(C)			Weighted Average Yield		Weighted Average Expected Life (Years)(D)
	30-Sep-14	$	2,827,355		(A)	30	%		$	2,192,487			18.2	%		16.9	%	3.5
	31-Dec-13	$	3,298,769			30	%		$	2,572,577			18.3	%		15.9	%	3.2
	(A)	Represents the August 31, 2014 balance.
	(B)	Represents the carrying value of the consumer loans held by the Consumer Loan Companies.
	(C)	Substantially all of the cash flows received on the loans is required to be used to make payments on the notes described above.
	(D)	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, 2014 as follows:
			For the Nine Months Ended September 30, 2014
	Balance at December 31, 2013		$	215,062
	Contributions to equity method investees		—
	Distributions of earnings from equity method investees(A)		(11,208		)
	Distributions of capital from equity method investees		—
	Earnings from investments in consumer loan equity method investees		60,185
	Balance at September 30, 2014		$	264,039
	(A)	During the nine months ended September 30, 2014, the Consumer Loan Companies distributed $10.6 million in cash to, and made $0.6 million in tax withholding payments on behalf of, New Residential. The tax withholding payments were considered a non-cash distribution.

DERIVATIVES_Tables

DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Schedule of Derivatives	'
	New Residential’s derivatives are recorded at fair value on the Condensed Consolidated Balance Sheets as follows:
		Balance Sheet Location		30-Sep-14				31-Dec-13
	Derivative assets
	Real Estate Securities(A)	Derivative assets		$	—			$	1,452
	Non-Performing Loans(A)	Derivative assets		27,571				34,474
	TBAs	Derivative assets		1,115				—
				$	28,686			$	35,926
	Derivate liabilities
	Real Estate Securities	Accrued expenses and other liabilities		$	—			$	18
	Interest Rate Swaps	Accrued expenses and other liabilities		345				—
				$	345			$	18
	(A)	Investments purchased from, and financed by, the selling counterparty that New Residential accounts for as linked transactions and are reflected as derivatives.
	The following table summarizes notional amounts related to derivatives:
		September 30, 2014				December 31, 2013
	Non-Performing Loans(A)	$	161,561			$	164,598
	Real Estate Securities(B)	—				10,000
	TBAs, short position(C)	1,301,000				—
	Interest Rate Swaps, short position(D)	1,595,000				—
	(A)	Represents the UPB of the underlying loans of the non-performing loan pools within linked transactions.
	(B)	Represents the face amount of the real estate securities within linked transactions.
	(C)	Represents the notional amount of Agency RMBS, classified as derivatives.
	(D)	Receive LIBOR and pay a fixed rate.
	The following table summarizes gains (losses) recorded in relation to derivatives:
			For the Three Months Ended September 30,				For the Nine Months Ended September 30,
			2014				2014
	Other income (loss)
	Non-Performing Loans(A)		$	5,111			$	4,797
	Real Estate Securities(A)		—				26
	TBAs		33				263
	Interest Rate Swaps		(345		)		(2,731		)
			4,799				2,355
	Gain (loss) on settlement of investments
	Real Estate Securities(A)		—				43
	TBAs		(2,403		)		(6,405		)
	U.S.T. Short Positions		—				176
			(2,403		)		(6,186		)
	Total gains (losses)		$	2,396			$	(3,831	)
	(A)	Investments purchased from, and financed by, the selling counterparty that New Residential accounts for as linked transactions and are reflected as derivatives.
	The following table presents both gross and net information about linked transactions:
		30-Sep-14				31-Dec-13
	Non-Performing Loans
	Non-performing loan assets, at fair value(A)	$	96,836			$	95,014
	Repurchase agreements(B)	(69,265		)		(60,540		)
		27,571				34,474
	Real Estate Securities
	Real estate securities, at fair value(C)	—				9,952
	Repurchase agreements(B)	—				(8,500		)
		—				1,452
	Net assets recognized as linked transactions	$	27,571			$	35,926
	(A)	Non-performing loans that had a UPB of $161.6 million as of September 30, 2014, which represented the notional amount of the linked transaction and accrued interest.
	(B)	Represents carrying amount that approximates fair value.
	(C)	Real estate securities that had a current face amount of $10.0 million as of December 31, 2013, which represented the notional amount of the linked transaction.

DEBT_OBLIGATIONS_Tables

DEBT OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of debt obligations	'
	The following table presents certain information regarding New Residential’s debt obligations:
	September 30, 2014(A)																								31-Dec-13
																		Collateral
	Debt Obligations/Collateral		Month Issued			Outstanding Face Amount				Carrying Value				Final Stated Maturity	Weighted Average Funding Cost		Weighted Average Life (Years)	Outstanding Face		Amortized Cost Basis		Carrying Value		Weighted Average Life (Years)	Carrying Value
	Repurchase Agreements (B)
	Agency		Various			$	1,510,765			$	1,510,765			14-Oct	0.31	%	0.1	$	1,500,141	$	1,571,199	$	1,570,328	6.3	$	1,332,954
	RMBS (C)
	Non-Agency		Various			214,972				214,972				14-Oct	1.79	%	0.1	323,438		260,995		267,769		8.4	287,757
	RMBS (D)
	Residential		Various			871,659				871,659				Nov-14 to Aug-16	2.6	%	1.8	1,257,145		1,089,677		1,093,571		4.1	—
	Mortgage
	Loans(E)
	Consumer		14-Jan			125,000				125,000				15-Jan	3.45	%	0.3	N/A		N/A		264,039		3.5	—
	Loans(F)
	Real Estate		Various			15,953				15,953				Nov-14 to Aug-16	2.89	%	0.4	N/A		N/A		38,840		N/A	—
	Owned(G)
	Total					2,738,349				2,738,349					1.31	%	0.6								1,620,711
	Repurchase
	Agreements
	Notes Payable
	Secured		—			—				—				—	—	%	—	—		—		—		—	75,000
	Corporate
	Loan
	Servicer		Various			2,824,007				2,824,007				Mar-15 to Mar-17	2.99	%	2	3,041,905		3,108,288		3,214,113		4.2	2,390,778
	Advances(H)
	Residential		13-Dec			23,244				23,244				14-Oct	3.41	%	0.1	49,759		29,511		28,226		3.8	22,840
	Mortgage
	Loans(I)
	Total Notes					2,847,251				2,847,251					2.99	%	2								2,488,618
	Payable
	Total/ Weighted					$	5,585,600			$	5,585,600				2.17	%	1.3								$	4,109,329
	Average
	(A)	Excludes debt related to linked transactions (Note 10).
	(B)	These repurchase agreements had approximately $1.0 million of associated accrued interest payable as of September 30, 2014.
	(C)	The counterparties of these repurchase agreements are Mizuho ($288.1 million), Morgan Stanley ($78.0 million), Barclays ($644.7 million), Daiwa ($146.5 million) and Jefferies ($353.5 million) and were subject to customary margin call provisions.
	(D)	The counterparties of these repurchase agreements are Barclays ($8.2 million), Credit Suisse ($49.6 million), Royal Bank of Scotland ($102.3 million), Royal Bank of Canada ($11.7 million), Bank of America ($1.9 million), Goldman Sachs ($27.2 million) and UBS ($14.0 million) and were subject to customary margin call provisions. All of the Non-Agency repurchase agreements have LIBOR-based floating interest rates.
	(E)	The counterparties on these repurchase agreements are Bank of America N.A. ($531.0 million), Nomura ($317.6 million), Citibank ($16.1 million) and Royal Bank of Scotland ($6.9 million). All of these repurchase agreements have LIBOR-based floating interest rates.
	(F)	The repurchase agreement is payable to Credit Suisse and bears interest equal to one-month LIBOR plus 2.0%.
	(G)	The counterparties of these repurchase agreements are Royal Bank of Scotland ($9.4 million), Credit Suisse ($3.3 million), Bank of America, N.A. ($2.0 million) and Nomura ($1.3 million).  All of these repurchase agreements have LIBOR-based floating interest rates.
	(H)	$1.3 billion face amount of the notes have a fixed rate while the remaining notes bear interest equal to the sum of (i) a floating rate index rate equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.3% to 2.4%.
	(I)	The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 3.25%.
Schedule of contractual maturities of debt	'
	New Residential’s debt obligations as of September 30, 2014 had contractual maturities as follows:
	Year		Nonrecourse				Recourse(A)				Total
	October 1 through December 31, 2014		$	652,913			$	1,112,384			$	1,765,297
	2015		614,507				144,396				758,903
	2016		2,019,011				532,989				2,552,000
	2017		509,400				—				509,400
			$	3,795,831			$	1,789,769			$	5,585,600
	(A)	Excludes recourse debt related to linked transactions (Note 10).
Schedule of borrowing capacity	'
	The following table represents New Residential’s borrowing capacity as of September 30, 2014 :
	Debt Obligations/ Collateral		Collateral Type		Borrowing Capacity				Balance Outstanding				Available Financing
	Repurchase Agreements
	Residential Mortgage Loans(A)		Real Estate Loans		$	1,503,992			$	933,511			$	570,481
	Notes Payable
	Servicer Advances(B)		Servicer Advances		4,305,200				2,824,007				1,481,193
					$	5,809,192			$	3,757,518			$	2,051,674
	(A)	Includes $300.0 million of borrowing capacity and $49.2 million of balance outstanding related to one of New Residential's linked transactions (Note 10).
	(B)	New Residential’s unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions. New Residential pays a 0.5% fee on the unused borrowing capacity.

FAIR_VALUE_OF_FINANCIAL_INSTRU1

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Schedule of fair value of assets measured on a recurring basis	'
	The carrying values and fair values of New Residential’s financial assets recorded at fair value on a recurring basis, as well as other financial instruments for which fair value is disclosed, as of September 30, 2014 were as follows:
										Fair Value
		Principal Balance or Notional Amount				Carrying Value				Level 1				Level 2				Level 3			Total
	Assets:
	Investments in:
	Excess mortgage servicing rights, at fair	$	99,041,165			$	409,236			$	—			$	—			$	409,236		$	409,236
	value(A)
	Excess mortgage servicing rights, equity	152,436,227				342,538				—				—				342,538			342,538
	method investees, at fair value(A)
	Servicer advances	3,041,905				3,214,113				—				—				3,214,113			3,214,113
	Real estate securities, available-for-sale	2,130,370				2,079,712				—				1,785,083				294,629			2,079,712
	Residential mortgage loans, held for	843,265				626,941				—				—				638,901			638,901
	investment(B)(C)
	Residential mortgage loans, held for	463,639				490,250				—				—				491,575			491,575
	sale(C)
	Non-hedge derivatives(D)	1,462,561				28,686				—				1,115				27,571			28,686
	Cash and cash equivalents	187,601				187,601				187,601				—				—			187,601
	Restricted cash	29,962				29,962				29,962				—				—			29,962
						$	7,409,039			$	217,563			$	1,786,198			$	5,418,563		$	7,422,324
	Liabilities:
	Repurchase agreements	$	2,738,349			$	2,738,349			$	—			$	1,725,737			$	1,012,612		$	2,738,349
	Notes payable	2,847,251				2,847,251				—				1,081,673				1,768,743			2,850,416
	Derivative liabilities	1,595,000				345				—				345				—			345
						$	5,585,945			$	—			$	2,807,755			$	2,781,355		$	5,589,110
	(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 non-performing loans in Agency portfolios.
	(B)	The notional amount represents the total unpaid principal balance of the mortgage loans for residential mortgage loans, held for investment.
	(C)	Carrying value excludes accrued interest receivable.
	(D)	The notional amount for linked transactions consists of the aggregate UPB amount of the loans that comprise the asset portion of the linked transaction.
Schedule of fair value of assets valued on a recurring basis using Level 3 inputs	'
	New Residential’s financial assets measured at fair value on a recurring basis using Level 3 inputs changed during the nine months ended September 30, 2014 as follows:
		Level 3
		Excess MSRs(A)								Excess MSRs in Equity Method Investees(A)(B)
		Agency				Non-Agency				Agency				Non-Agency				Servicer Advances			Non-Agency RMBS			Linked Transactions			Total
	Balance at December 31, 2013	$	144,660			$	179,491			$	245,399			$	107,367			$	2,665,551		$	570,425		$	35,926		$	3,948,819
	Transfers(C)
	Transfers from Level 3	—				—				—				—				—			—			—			—
	Transfers to Level 3	—				—				—				—				—			—			—			—
	Gains (losses) included in net income
	Included in other-than-temporary	—				—				—				—				—			(479		)	—			(479		)
	impairment (“OTTI”) on securities(D)
	Included in change in fair value of	19,590				21,080				—				—				—			—			—			40,670
	investments in excess mortgage
	servicing rights(D)
	Included in change in fair value of	—				—				15,062				8,825				—			—			—			23,887
	investments in excess mortgage
	servicing rights, equity method
	investees(D)
	Included in change in fair value of	—				—				—				—				105,825			—			—			105,825
	investments in servicer advances
	Included in gain on settlement of	—				—				—				—				—			60,296			—			60,296
	investments
	Included in other income(D)	323				—				—				—				—			—			4,840			5,163
	Gains (losses) included in other	—				—				—				—				—			3,753			—			3,753
	comprehensive income, net of tax(E)
	Interest income	15,808				21,895				18,847				8,216				153,790			16,972			—			235,528
	Purchases, sales and repayments
	Purchases	56,074				19,132				—				—				5,569,238			977,877			9,758			6,632,079
	Purchase adjustments	(59		)		405				—				—				—			—			—			346
	Proceeds from sales	—				—				—				—				—			(1,273,191		)	(1,495		)	(1,274,686		)
	Proceeds from repayments	(30,046		)		(39,117		)		(41,406		)		(19,772		)		(5,280,291		)	(61,024		)	(9,001		)	(5,480,657		)
	Transfers to REO(F)	—				—				—				—				—			—			(12,457		)	(12,457		)
	Balance at September 30, 2014	$	206,350			$	202,886			$	237,902			$	104,636			$	3,214,113		$	294,629		$	27,571		$	4,288,087
	(A)	Includes the Recapture Agreement for each respective pool.
	(B)	Amounts represent New Residential’s portion of the Excess MSRs held by the respective joint ventures in which New Residential has a 50% interest.
	(C)	Transfers are assumed to occur at the beginning of the respective period.
	(D)	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.
	(E)	These gains (losses) were included in net unrealized gain (loss) on securities in the Condensed Consolidated Statements of Comprehensive Income.
	(F)	Represents value of residential mortgage loans transferred to REO net of associated repurchase financing agreements.
Schedule of inputs used in valuing Excess MSRs owned directly and through equity method investees	'
	The following table summarizes certain information regarding the weighted average inputs used in valuing the Excess MSRs owned directly and through equity method investees as of September 30, 2014:
			Significant Inputs(A)
	Directly Held (Note 4)		Prepayment Speed(B)			Delinquency(C)			Recapture Rate(D)			Excess Mortgage Servicing Amount
												(bps)(E)
	Agency
	Original and Recaptured Pools		11.9	%		8.2	%		30.8	%		22
	Recapture Agreement		8.1	%		4.6	%		35	%		20
			11.6	%		7.9	%		31.1	%		22
	Non-Agency(F)
	Original and Recaptured Pools		11.9	%		N/A			9.9	%		15
	Recapture Agreement		8	%		N/A			35	%		21
			11.6	%		N/A			11.6	%		15
	Total/Weighted Average--Directly Held		11.6	%		7.9	%		20.7	%		18
	Held through Equity Method Investees (Note 5)
	Agency
	Original and Recaptured Pools		14.3	%		7.2	%		32.8	%		19
	Recapture Agreement		8	%		5	%		35	%		22
			13.1	%		6.8	%		33.2	%		19
	Non-Agency(F)
	Original and Recaptured Pools		11.9	%		N/A			9.9	%		12
	Recapture Agreement		8	%		N/A			35	%		19
			11.6	%		N/A			11.5	%		12
	Total/Weighted Average--Held through Investees		12.6	%		6.8	%		25.9	%		17
	Total/Weighted Average--All Pools		12.2	%		7.1	%		24.1	%		17
	(A)	Weighted by amortized cost basis of the mortgage loan portfolio.
	(B)	Projected annualized weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector.
	(C)	Projected percentage of mortgage loans in the pool that will miss their mortgage payments.
	(D)	Percentage of voluntarily prepaid loans that are expected to be refinanced by Nationstar.
	(E)	Weighted average total mortgage servicing amount in excess of the basic fee.
	(F)	For certain pools, the Excess MSR will be paid on the total UPB of the mortgage portfolio (including both performing and delinquent loans until REO). For these pools, no delinquency assumption is used.
Schedule of inputs in valuing servicer advances	'
	The following table summarizes certain information regarding the inputs used in valuing the servicer advances:
		Significant Inputs
		Weighted Average
		Outstanding Servicer Advances to UPB of Underlying Residential Mortgage Loans			Prepayment Speed			Delinquency			Mortgage Servicing Amount(A)			Discount Rate
	September 30, 2014	2.1	%		11.7	%		16.6	%		19.6		bps	5.5	%
	December 31, 2013	2.7	%		13.2	%		20	%		21.2		bps	5.6	%
	(A)	Mortgage servicing amount excludes the 2 basis points New Residential pays Nationstar as a monthly servicing fee.
Schedule of real estate securities valuation methodology and results	'
	As of September 30, 2014, 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)				Single Quote(B)				Total			Level
	Agency RMBS		$	1,697,608			$	1,785,873			$	1,736,126			$	48,957			$	1,785,083		2
	Non-Agency RMBS		432,762				287,211				281,375				13,254				294,629			3
	Total		$	2,130,370			$	2,073,084			$	2,017,501			$	62,211			$	2,079,712
	(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.
	(B)	Management was unable to obtain quotations from more than one source on these securities. The one source was the seller (the party that sold New Residential the security).
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, 2014:
														Significant Inputs
	Loan Type		Carrying Value(A)				Fair Value(A)				Valuation Provision/ (Reversal) In Current Year			Discount Rate			Weighted Average Life (Years)(B)
	Reverse Mortgage Loans		$	28,226			$	28,226			824			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.
	For performing loans, the significant inputs to these models include discount rates and market-based assumptions for prepayment speed and default.
	Loan Type		Carrying Value				Fair Value				Discount Rate			Prepayment Rate			CDR(A)
	Performing Loans		$	99,879			$	104,758			5.1	%		5.2	%		1.6	%
	(A)	Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.
	For non-performing loans, the significant inputs to these models include discount rates, loss severities, and market-based assumptions regarding the timing and amount of expected cash flows primarily based upon the performance of the loan pool and liquidation attributes.
	Loan Type		Carrying Value				Fair Value				Discount Rate			CDR(A)			Loss Severity
	Non-Performing Loans		$	498,836			$	505,917			6	%		3	%		31.1	%
	(A)	Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.

EQUITY_AND_EARNINGS_PER_SHARE_

EQUITY AND EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2014
Equity And Earnings Per Share	'
Schedule of outstanding options	'
	New Residential’s outstanding options at September 30, 2014 consisted of the following:
		Number of Options	Strike Price		Maturity Date
		81,248	$	33.9	11/22/14
		164,999	31.94		1/12/15
		1,000	33.36		8/1/15
		85,000	31.74		11/1/16
		121,000	33.8		1/23/17
		228,000	29.92		4/11/17
		547,583	6.58		3/29/21
		849,916	4.98		9/27/21
		933,583	6.82		4/3/22
		1,132,499	7.34		5/21/22
		1,249,583	7.34		7/31/22
		2,874,998	10.24		1/11/23
		1,149,998	11.48		2/15/23
		4,000	13.58		6/2/23
		1,437,500	12.2		4/30/24
	Total/Weighted Average	10,860,907	$	10.46
	As of September 30, 2014, New Residential’s outstanding options were summarized as follows:
	Held by the Manager	8,970,161
	Issued to the Manager and subsequently transferred to certain of the Manager’s employees	1,843,180
	Issued to the independent directors	5,000
	Issued to the Manager and held by its former employees	42,566
	Total	10,860,907

TRANSACTIONS_WITH_AFFILIATES_A1

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2014
Transactions With Affiliates And Affiliated Entities	'
Schedule of affiliate transactions	'
	Due to affiliates is comprised of the following amounts:
		September 30, 2014		December 31, 2013
	Management fees	$	1,709	$	1,495
	Incentive compensation	33,111		16,847
	Expense reimbursements and other	321		827
		$	35,141	$	19,169
	Affiliate expenses and fees were comprised of:
		Three Months Ended September 30,				Nine Months Ended September 30,
		2014		2013		2014		2013
	Management fees	$	5,124	$	4,484	$	14,525	$	6,747
	Incentive compensation	10,910		4,470		33,111		5,348
	Expense reimbursements(A)	125		267		375		267
	Total	$	16,159	$	9,221	$	48,011	$	12,362
	(A)	Included in General and Administrative Expenses in the Condensed Consolidated Statements of Income.

RECLASSIFICATION_FROM_ACCUMULA1

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME (Tables)	9 Months Ended
	Sep. 30, 2014
Reclassification From Accumulated Other Comprehensive Income Into Net Income	'
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,						Nine Months Ended September 30,
	Income Components
			2014			2013			2014			2013
	Reclassification of net realized	Gain on settlement of	$	(3,668	)	$	(11,213	)	$	(65,444	)	$	(11,271	)
	(gain) loss on securities into	securities
	earnings
	Reclassification of net realized	Other-than-temporary	—			—			943			3,756
	(gain) loss on securities into	impairment on securities
	earnings
	Total reclassifications		$	(3,668	)	$	(11,213	)	$	(64,501	)	$	(7,515	)

INCOME_TAXES_Tables

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
Schedule of components of income taxes	'
	The provision for income taxes consists of the following:
		Three Months Ended September 30,				Nine Months Ended September 30,
		2014		2013		2014		2013
	Current:
	Federal	$	1,677	$	—	$	4,130	$	—
	State and Local	1,285		—		2,868		—
	Total Current Provision	2,962		—		6,998		—
	Deferred:
	Federal	3,621		—		16,857		—
	State and Local	1,218		—		5,628		—
	Total Deferred Provision	4,839		—		22,485		—
	Total Provision for Income Taxes	$	7,801	$	—	$	29,483	$	—

GENERAL_GENERAL_Accounting_Adj

GENERAL GENERAL - Accounting Adjustments (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Real estate owned	$52,740	'	$52,740	'	$0
Other assets	11,740	'	11,740	'	689
Assets	7,773,401	'	7,773,401	'	5,958,658
Interest income	97,587	21,885	261,733	61,075	'
Other income	15,289	0	19,539	0	'
Total income	$126,372	$63,145	$298,647	$185,442	'

GENERAL_Details_Narrative

GENERAL (Details Narrative)	Sep. 30, 2014
In Millions, unless otherwise specified
Related Party Transaction [Line Items]	'
REIT Distribution Threshold for Nontaxation	90.00%
Shares held by Fortress and affiliates in Newcastle	2.4
Stock Options outstanding	9
Management fee rate (percent)	1.50%

OTHER_INCOME_ASSETS_AND_LIABIL2

OTHER INCOME, ASSETS AND LIABILITIES - Other Income (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Other income (loss), net	'	'	'	'
Gain (loss) on derivative instruments	$4,799	$0	$2,355	$0
Gain (loss) on transfer of loans to REO	5,167	0	11,861	0
Fee earned on deal termination	5,000	0	5,000	0
Other Income	323	0	323	0
Total Other income (loss), net	$15,289	$0	$19,539	$0

OTHER_INCOME_ASSETS_AND_LIABIL3

OTHER INCOME, ASSETS AND LIABILITIES OTHER INCOME, ASSETS AND LIABILITIES - Investments (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Other Income Assets And Liabilities	'	'	'	'
Gain on sale of real estate securities, net	$3,668	$11,213	$65,444	$11,271
Gain (loss) on sale of derivatives	-2,403	0	-6,186	0
Gain (loss) on liquidated residential mortgage loans, held-for-investment	782	0	782	0
Gain (loss) on sale of REO	-159	0	-801	0
Other gains (losses)	-950	0	-1,405	0
Gain on settlement of investments	$938	$11,213	$57,834	$11,271

OTHER_INCOME_ASSETS_AND_LIABIL4

OTHER INCOME, ASSETS AND LIABILITIES - Other Assets and Other Liabilities (Details) (USD $)	Sep. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Other Assets	'		'
Margin receivable, net	$17,220		$40,132
Interest and other receivables	8,530		7,548
Deferred financing costs, net	5,487	[1]	4,773	[1]
Other assets	11,740		689
Other assets	42,977		53,142
Amortization of deferred financing costs	8,443		768
Other Liabilities	'		'
Interest payable	246		4,010
Accounts payable	10,586		2,829
Derivative liability	345		18
Current taxes payable	584		0
Other liabilities	19		0
Accrued expenses and other liabilities	$11,780		$6,857
[1]	Deferred financing costs is net of accumulated amortization of $8,443 and $768 as of September 30, 2014 and December 31, 2013, respectively.

OTHER_INCOME_ASSETS_AND_LIABIL5

OTHER INCOME, ASSETS AND LIABILITIES - Accretion of Discount and Other Amortization (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013
Accretion of discount and other amortization:	'		'
Accretion of servicer advance interest income	$153,790		$0
Accretion of excess mortgage servicing rights income	37,703		30,541
Accretion of net discount on securities and loans(A)	30,127	[1]	9,644	[1]
Amortization of deferred financing costs	-7,675		-29
Accretion of net discount on securities and loans	$213,945		$40,156
[1]	Includes accretion of the accretable yield on PCI loans.

SEGMENT_REPORTING_Details

SEGMENT REPORTING (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]	'	'	'	'	'
Interest income	$97,587	$21,885	$261,733	$61,075	'
Interest expense	33,307	3,443	108,816	6,993	'
Net Interest Income	64,280	18,442	152,917	54,082	'
Impairment	1,134	0	2,534	3,756	'
Other income	122,064	56,195	335,003	157,204	'
Operating expenses	25,311	11,492	64,732	22,088	'
Income (Loss) Before Income Taxes	159,899	63,145	420,654	185,442	'
Income tax expense	7,801	0	29,483	0	'
Net income (loss)	152,098	63,145	391,171	185,442	'
Noncontrolling Interests in Income (Loss) of Consolidated Subsidiaries	25,726	0	92,524	0	'
Net income (loss) attributable to common stockholders	126,372	63,145	298,647	185,442	'
Investments	7,431,435	'	7,431,435	'	'
Cash and cash equivalents	187,601	'	187,601	'	'
Restricted cash	29,962	'	29,962	'	33,338
Derivative assets	28,686	'	28,686	'	35,926
Other assets	11,740	'	11,740	'	689
Total assets	7,773,401	'	7,773,401	'	5,958,658
Debt	5,585,600	'	5,585,600	'	4,109,329
Other liabilities	331,940	'	331,940	'	'
Total liabilities	5,917,540	'	5,917,540	'	4,445,583
Total equity	1,855,861	'	1,855,861	'	1,513,075
Noncontrolling interests in equity of consolidated subsidiaries	280,445	'	280,445	'	247,225
Total New Residential stockholders’ equity	1,575,416	'	1,575,416	'	1,265,850
Investments in equity method investees	606,577	'	606,577	'	'
Excess MSRs	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Interest income	12,914	9,761	37,703	30,541	'
Interest expense	3	0	1,294	0	'
Net Interest Income	12,911	9,761	36,409	30,541	'
Impairment	0	0	0	0	'
Other income	60,722	20,853	91,943	85,640	'
Operating expenses	103	82	488	178	'
Income (Loss) Before Income Taxes	73,530	30,532	127,864	116,003	'
Income tax expense	0	0	0	0	'
Net income (loss)	73,530	30,532	127,864	116,003	'
Noncontrolling Interests in Income (Loss) of Consolidated Subsidiaries	0	0	0	0	'
Net income (loss) attributable to common stockholders	73,530	30,532	127,864	116,003	'
Investments	751,774	'	751,774	'	'
Cash and cash equivalents	0	'	0	'	'
Restricted cash	0	'	0	'	'
Derivative assets	0	'	0	'	'
Other assets	1,122	'	1,122	'	'
Total assets	752,896	'	752,896	'	'
Debt	0	'	0	'	'
Other liabilities	1,715	'	1,715	'	'
Total liabilities	1,715	'	1,715	'	'
Total equity	751,181	'	751,181	'	'
Noncontrolling interests in equity of consolidated subsidiaries	0	'	0	'	'
Total New Residential stockholders’ equity	751,181	'	751,181	'	'
Investments in equity method investees	342,538	'	342,538	'	'
Servicer Advances	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Interest income	50,967	0	153,790	0	'
Interest expense	25,157	0	86,885	0	'
Net Interest Income	25,810	0	66,905	0	'
Impairment	0	0	0	0	'
Other income	22,948	0	105,657	0	'
Operating expenses	4,796	0	5,815	0	'
Income (Loss) Before Income Taxes	43,962	0	166,747	0	'
Income tax expense	7,403	0	29,085	0	'
Net income (loss)	36,559	0	137,662	0	'
Noncontrolling Interests in Income (Loss) of Consolidated Subsidiaries	25,726	0	92,524	0	'
Net income (loss) attributable to common stockholders	10,833	0	45,138	0	'
Investments	3,214,113	'	3,214,113	'	'
Cash and cash equivalents	88,770	'	88,770	'	'
Restricted cash	29,962	'	29,962	'	'
Derivative assets	0	'	0	'	'
Other assets	7,768	'	7,768	'	'
Total assets	3,340,613	'	3,340,613	'	'
Debt	2,824,007	'	2,824,007	'	'
Other liabilities	27,557	'	27,557	'	'
Total liabilities	2,851,564	'	2,851,564	'	'
Total equity	489,049	'	489,049	'	'
Noncontrolling interests in equity of consolidated subsidiaries	280,445	'	280,445	'	'
Total New Residential stockholders’ equity	208,604	'	208,604	'	'
Investments in equity method investees	0	'	0	'	'
Real Estate Securities	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Interest income	11,179	11,437	41,939	28,625	'
Interest expense	1,932	3,443	9,513	6,993	'
Net Interest Income	9,247	7,994	32,426	21,632	'
Impairment	0	0	943	3,756	'
Other income	955	11,213	59,410	11,271	'
Operating expenses	169	10	800	32	'
Income (Loss) Before Income Taxes	10,033	19,197	90,093	29,115	'
Income tax expense	0	0	0	0	'
Net income (loss)	10,033	19,197	90,093	29,115	'
Noncontrolling Interests in Income (Loss) of Consolidated Subsidiaries	0	0	0	0	'
Net income (loss) attributable to common stockholders	10,033	19,197	90,093	29,115	'
Investments	2,079,712	'	2,079,712	'	'
Cash and cash equivalents	13,273	'	13,273	'	'
Restricted cash	0	'	0	'	'
Derivative assets	1,115	'	1,115	'	'
Other assets	22,879	'	22,879	'	'
Total assets	2,116,979	'	2,116,979	'	'
Debt	1,725,737	'	1,725,737	'	'
Other liabilities	214,018	'	214,018	'	'
Total liabilities	1,939,755	'	1,939,755	'	'
Total equity	177,224	'	177,224	'	'
Noncontrolling interests in equity of consolidated subsidiaries	0	'	0	'	'
Total New Residential stockholders’ equity	177,224	'	177,224	'	'
Investments in equity method investees	0	'	0	'	'
Real Estate Loans	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Interest income	22,526	683	28,300	1,867	'
Interest expense	5,065	0	6,454	0	'
Net Interest Income	17,461	683	21,846	1,867	'
Impairment	1,134	0	1,591	0	'
Other income	14,950	0	17,808	0	'
Operating expenses	3,163	94	4,140	224	'
Income (Loss) Before Income Taxes	28,114	589	33,923	1,643	'
Income tax expense	306	0	306	0	'
Net income (loss)	27,808	589	33,617	1,643	'
Noncontrolling Interests in Income (Loss) of Consolidated Subsidiaries	0	0	0	0	'
Net income (loss) attributable to common stockholders	27,808	589	33,617	1,643	'
Investments	1,121,797	'	1,121,797	'	'
Cash and cash equivalents	2,889	'	2,889	'	'
Restricted cash	0	'	0	'	'
Derivative assets	27,571	'	27,571	'	'
Other assets	62,695	'	62,695	'	'
Total assets	1,214,952	'	1,214,952	'	'
Debt	910,856	'	910,856	'	'
Other liabilities	4,973	'	4,973	'	'
Total liabilities	915,829	'	915,829	'	'
Total equity	299,123	'	299,123	'	'
Noncontrolling interests in equity of consolidated subsidiaries	0	'	0	'	'
Total New Residential stockholders’ equity	299,123	'	299,123	'	'
Investments in equity method investees	0	'	0	'	'
Consumer Loans	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Interest income	0	0	0	0	'
Interest expense	1,149	0	4,170	0	'
Net Interest Income	-1,149	0	-4,170	0	'
Impairment	0	0	0	0	'
Other income	22,490	24,129	60,185	60,293	'
Operating expenses	632	1	745	1,952	'
Income (Loss) Before Income Taxes	20,709	24,128	55,270	58,341	'
Income tax expense	92	0	92	0	'
Net income (loss)	20,617	24,128	55,178	58,341	'
Noncontrolling Interests in Income (Loss) of Consolidated Subsidiaries	0	0	0	0	'
Net income (loss) attributable to common stockholders	20,617	24,128	55,178	58,341	'
Investments	264,039	'	264,039	'	'
Cash and cash equivalents	9,766	'	9,766	'	'
Restricted cash	0	'	0	'	'
Derivative assets	0	'	0	'	'
Other assets	609	'	609	'	'
Total assets	274,414	'	274,414	'	'
Debt	125,000	'	125,000	'	'
Other liabilities	1,132	'	1,132	'	'
Total liabilities	126,132	'	126,132	'	'
Total equity	148,282	'	148,282	'	'
Noncontrolling interests in equity of consolidated subsidiaries	0	'	0	'	'
Total New Residential stockholders’ equity	148,282	'	148,282	'	'
Investments in equity method investees	264,039	'	264,039	'	'
Corporate	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Interest income	1	4	1	42	'
Interest expense	1	0	500	0	'
Net Interest Income	0	4	-499	42	'
Impairment	0	0	0	0	'
Other income	-1	0	0	0	'
Operating expenses	16,448	11,305	52,744	19,702	'
Income (Loss) Before Income Taxes	-16,449	-11,301	-53,243	-19,660	'
Income tax expense	0	0	0	0	'
Net income (loss)	-16,449	-11,301	-53,243	-19,660	'
Noncontrolling Interests in Income (Loss) of Consolidated Subsidiaries	0	0	0	0	'
Net income (loss) attributable to common stockholders	-16,449	-11,301	-53,243	-19,660	'
Investments	0	'	0	'	'
Cash and cash equivalents	72,903	'	72,903	'	'
Restricted cash	0	'	0	'	'
Derivative assets	0	'	0	'	'
Other assets	644	'	644	'	'
Total assets	73,547	'	73,547	'	'
Debt	0	'	0	'	'
Other liabilities	82,545	'	82,545	'	'
Total liabilities	82,545	'	82,545	'	'
Total equity	-8,998	'	-8,998	'	'
Noncontrolling interests in equity of consolidated subsidiaries	0	'	0	'	'
Total New Residential stockholders’ equity	-8,998	'	-8,998	'	'
Investments in equity method investees	0	'	0	'	'
Net Assets, Segment [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Other assets	$95,717	'	$95,717	'	'

INVESTMENTS_IN_EXCESS_MORTGAGE4

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

0 Months Ended

0 Months Ended

Jul. 08, 2014

13-May-14

12-May-14

Jan. 17, 2014

Sep. 30, 2014

Jul. 08, 2014

13-May-14

12-May-14

Jan. 17, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Jul. 08, 2014

Jul. 08, 2014

Jul. 08, 2014

Excess Mortgage Servicing Rights Investees

Excess Mortgage Servicing Rights Investees

Excess Mortgage Servicing Rights Investees

Subsequent Event

Fortress-Managed Funds [Member]

Nationstar [Member]

MSRs

Investment [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amount invested

$14,200,000

$2,200,000

$33,900,000

$19,100,000

'

'

'

'

'

'

'

'

'

'

'

Percentage of Investment owned by New Residential

'

'

'

'

'

32.50%

33.30%

'

'

'

'

'

'

'

'

Percentage of Investment co-owned by Nationstar

'

'

'

'

'

33.30%

'

33.30%

'

'

'

'

'

'

'

Percentage of Investment owned by counterparty

'

'

'

'

'

'

'

'

'

'

'

'

'

32.50%

35.00%

Unpaid principal balance of underlying loans

'

'

'

'

99,041,165,000

2,100,000,000

700,000,000

12,800,000,000

8,100,000,000

152,436,227,000

'

'

'

'

'

Payments to Acquire Equity Method Investments

$5,700,000

'

'

'

'

'

'

'

'

'

'

'

$5,900,000,000

'

'

New Residential's ownership

'

'

'

'

'

'

'

'

'

50.00%

50.00%

50.00%

'

'

'

INVESTMENTS_IN_EXCESS_MORTGAGE5

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Direct Investments (Details) (USD $)

3 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Jul. 08, 2014

13-May-14

12-May-14

Jan. 17, 2014

Dec. 31, 2013

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Unpaid principal balance of underlying loans

$99,041,165

'

$99,041,165

'

$2,100,000

$700,000

$12,800,000

$8,100,000

'

Percentage of Investment owned by New Residential

'

'

'

'

32.50%

33.30%

'

'

'

Weighted average life

'

'

'5 years 9 months 14 days

[1]

'

'

'

'

'

'

Amortized Cost Basis

305,846

[2]

'

305,846

[2]

'

'

'

'

'

'

Carrying Value

409,236

[3]

'

409,236

[3]

'

'

'

'

'

324,151

Change in fair value of investments in excess mortgage servicing rights

28,566

208

40,670

43,899

'

'

'

'

'

Original and Recaptured Pools

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Change in fair value of investments in excess mortgage servicing rights

24,124

-238

34,012

36,240

'

'

'

'

'

Recapture Agreements

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Change in fair value of investments in excess mortgage servicing rights

4,442

446

6,658

7,659

'

'

'

'

'

Agency

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Unpaid principal balance of underlying loans

46,264,414

'

46,264,414

'

'

'

'

'

'

Weighted average life

'

'

'5 years 10 months 21 days

[1]

'

'

'

'

'

'

Amortized Cost Basis

142,847

[2]

'

142,847

[2]

'

'

'

'

'

'

Carrying Value

206,350

[3]

'

206,350

[3]

'

'

'

'

'

144,660

Agency | Original and Recaptured Pools

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Unpaid principal balance of underlying loans

46,264,414

'

46,264,414

'

'

'

'

'

'

Weighted average life

'

'

'5 years 5 months 17 days

[1]

'

'

'

'

'

'

Amortized Cost Basis

134,087

[2]

'

134,087

[2]

'

'

'

'

'

'

Carrying Value

176,482

[3]

'

176,482

[3]

'

'

'

'

'

120,271

Agency | Recapture Agreements

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Unpaid principal balance of underlying loans

0

'

0

'

'

'

'

'

'

Weighted average life

'

'

'12 years 5 months 16 days

[1]

'

'

'

'

'

'

Amortized Cost Basis

8,760

[2]

'

8,760

[2]

'

'

'

'

'

'

Carrying Value

29,868

[3]

'

29,868

[3]

'

'

'

'

'

24,389

Non-Agency

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Unpaid principal balance of underlying loans

52,776,751

[4]

'

52,776,751

[4]

'

'

'

'

'

'

Weighted average life

'

'

'5 years 8 months 11 days

[1],[4]

'

'

'

'

'

'

Amortized Cost Basis

162,999

[2],[4]

'

162,999

[2],[4]

'

'

'

'

'

'

Carrying Value

202,886

[3],[4]

'

202,886

[3],[4]

'

'

'

'

'

179,491

[4]

Non-Agency | Original and Recaptured Pools

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Unpaid principal balance of underlying loans

52,776,751

[4]

'

52,776,751

[4]

'

'

'

'

'

'

Weighted average life

'

'

'5 years 2 months 1 day

[1],[4]

'

'

'

'

'

'

Amortized Cost Basis

151,734

[2],[4]

'

151,734

[2],[4]

'

'

'

'

'

'

Carrying Value

193,676

[3],[4]

'

193,676

[3],[4]

'

'

'

'

'

173,007

[4]

Non-Agency | Recapture Agreements

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Unpaid principal balance of underlying loans

0

[4]

'

0

[4]

'

'

'

'

'

'

Weighted average life

'

'

'12 years 8 months 23 days

[1],[4]

'

'

'

'

'

'

Amortized Cost Basis

11,265

[2],[4]

'

11,265

[2],[4]

'

'

'

'

'

'

Carrying Value

$9,210

[3],[4]

'

$9,210

[3],[4]

'

'

'

'

'

$6,484

[4]

Lower Range | Agency | Original and Recaptured Pools

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Percentage of Investment owned by New Residential

32.50%

'

32.50%

'

'

'

'

'

'

Lower Range | Agency | Recapture Agreements

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Percentage of Investment owned by New Residential

32.50%

'

32.50%

'

'

'

'

'

'

Lower Range | Non-Agency | Original and Recaptured Pools

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Percentage of Investment owned by New Residential

33.30%

[4]

'

33.30%

[4]

'

'

'

'

'

'

Lower Range | Non-Agency | Recapture Agreements

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Percentage of Investment owned by New Residential

33.30%

[4]

'

33.30%

[4]

'

'

'

'

'

'

Upper Range | Agency | Original and Recaptured Pools

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Percentage of Investment owned by New Residential

66.70%

'

66.70%

'

'

'

'

'

'

Upper Range | Agency | Recapture Agreements

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Percentage of Investment owned by New Residential

66.70%

'

66.70%

'

'

'

'

'

'

Upper Range | Non-Agency | Original and Recaptured Pools

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Percentage of Investment owned by New Residential

80.00%

[4]

'

80.00%

[4]

'

'

'

'

'

'

Upper Range | Non-Agency | Recapture Agreements

'

'

'

'

'

'

'

'

'

Investment [Line Items]

'

'

'

'

'

'

'

'

'

Percentage of Investment owned by New Residential

80.00%

[4]

'

80.00%

[4]

'

'

'

'

'

'

[1]

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

[2]

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]

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

[4]

Excess MSR investments in which New Residential also invested in related servicer advances, including the basic fee component of the related MSR as of September 30, 2014 (Note 6).

INVESTMENTS_IN_EXCESS_MORTGAGE6

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Geographic Distribution (Details) (MSRs)	Sep. 30, 2014	Dec. 31, 2013
Concentration Risk [Line Items]	'	'
Percentage of UPB	100.00%	100.00%
California	'	'
Concentration Risk [Line Items]	'	'
Percentage of UPB	31.20%	31.50%
Florida	'	'
Concentration Risk [Line Items]	'	'
Percentage of UPB	7.80%	9.80%
New York	'	'
Concentration Risk [Line Items]	'	'
Percentage of UPB	4.30%	4.90%
Maryland	'	'
Concentration Risk [Line Items]	'	'
Percentage of UPB	4.10%	3.50%
Washington	'	'
Concentration Risk [Line Items]	'	'
Percentage of UPB	4.00%	3.90%
Texas	'	'
Concentration Risk [Line Items]	'	'
Percentage of UPB	3.60%	4.00%
Virginia	'	'
Concentration Risk [Line Items]	'	'
Percentage of UPB	3.30%	3.10%
Arizona	'	'
Concentration Risk [Line Items]	'	'
Percentage of UPB	3.20%	3.50%
New Jersey	'	'
Concentration Risk [Line Items]	'	'
Percentage of UPB	3.20%	3.30%
Illinois	'	'
Concentration Risk [Line Items]	'	'
Percentage of UPB	3.10%	2.70%
Other U.S.	'	'
Concentration Risk [Line Items]	'	'
Percentage of UPB	32.20%	29.80%

INVESTMENTS_IN_EXCESS_MORTGAGE7

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

0 Months Ended

3 Months Ended

In Millions, unless otherwise specified

Jul. 08, 2014

13-May-14

12-May-14

Jan. 17, 2014

Jul. 08, 2014

13-May-14

12-May-14

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Fortress-managed Affiliate

Fortress-managed Affiliate

Excess Mortgage Servicing Rights Investees

Excess Mortgage Servicing Rights Investees

Excess Mortgage Servicing Rights Investees

MSRs

Schedule of Equity Method Investments [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Percentage ownership acquired in joint venture

'

'

'

'

'

'

'

55.00%

68.10%

50.00%

50.00%

50.00%

Percentage of Investment co-owned by Nationstar

'

'

'

'

33.30%

'

33.30%

'

'

'

'

'

Percentage of Investment owned by New Residential

'

'

'

'

32.50%

33.30%

'

'

'

'

'

'

Amount invested

$14.20

$2.20

$33.90

$19.10

'

'

'

'

'

'

'

'

Weighted Average Discount Rate, Percent

'

'

'

'

'

'

'

'

'

'

'

10.00%

INVESTMENTS_IN_EXCESS_MORTGAGE8

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES - Summary of Investments (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Excess mortgage servicing rights, equity method investees, at fair value	$342,538	'	$342,538	'	$352,766
Excess Mortgage Servicing Rights Investees	'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'	'	'
Excess MSR assets	679,146	'	679,146	'	703,681
Other assets	10,075	'	10,075	'	5,534
Debt	0	'	0	'	0
Other liabilities	-4,146	'	-4,146	'	-3,683
Equity	685,075	'	685,075	'	705,532
Excess mortgage servicing rights, equity method investees, at fair value	342,538	'	342,538	'	352,766
New Residential's ownership	50.00%	'	50.00%	'	50.00%
Interest income	18,341	16,745	54,126	30,501	'
Other income	45,354	25,109	47,843	56,483	'
Expenses	-29	-564	-70	-3,502	'
Net income	$63,666	$41,290	$101,899	$83,482	'

INVESTMENTS_IN_EXCESS_MORTGAGE9

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES - Roll Forward (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013	Sep. 30, 2014		Sep. 30, 2013	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'		'	'		'	'
Excess mortgage servicing rights, equity method investees, at fair value	$342,538		'	$342,538		'	$352,766
Change in fair value of investments in excess mortgage servicing rights, equity method investees	31,833		20,645	50,950		41,741	'
Fair Value, Measurements, Recurring [Member] | Level 3	'		'	'		'	'
Schedule of Equity Method Investments [Line Items]	'		'	'		'	'
Excess mortgage servicing rights, equity method investees, at fair value	342,538	[1]	'	342,538	[1]	'	352,766
Contributions to equity method investees	'		'	0		'	'
Proceeds from Equity Method Investment, Dividends or Distributions	'		'	-34,680		'	'
Return of investments in excess mortgage servicing rights, equity method investees	'		'	-26,498		'	'
Change in fair value of investments in excess mortgage servicing rights, equity method investees	'		'	$50,950		'	'
[1]	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 non-performing loans in Agency portfolios.

Recovered_Sheet1

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES - Excess MSR Investments (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Jul. 08, 2014	13-May-14	12-May-14	Jan. 17, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	$99,041,165		$2,100,000	$700,000	$12,800,000	$8,100,000	'
Amortized Cost Basis	305,846	[1]	'	'	'	'	'
Carrying Value	409,236	[2]	'	'	'	'	324,151
Weighted average life	'5 years 9 months 14 days	[3]	'	'	'	'	'
Excess Mortgage Servicing Rights Investees	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	152,436,227		'	'	'	'	'
New Residential's ownership	50.00%		'	'	'	'	50.00%
Amortized Cost Basis	577,338	[4]	'	'	'	'	'
Carrying Value	679,146	[5]	'	'	'	'	'
Weighted average life	'6 years 2 months 16 days	[6]	'	'	'	'	'
Excess Mortgage Servicing Rights Investees | MSRs	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
New Residential's ownership	50.00%		'	'	'	'	'
Agency	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	46,264,414		'	'	'	'	'
Amortized Cost Basis	142,847	[1]	'	'	'	'	'
Carrying Value	206,350	[2]	'	'	'	'	144,660
Weighted average life	'5 years 10 months 21 days	[3]	'	'	'	'	'
Agency | Original and Recaptured Pools	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	46,264,414		'	'	'	'	'
Amortized Cost Basis	134,087	[1]	'	'	'	'	'
Carrying Value	176,482	[2]	'	'	'	'	120,271
Weighted average life	'5 years 5 months 17 days	[3]	'	'	'	'	'
Agency | Recapture Agreements	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	0		'	'	'	'	'
Amortized Cost Basis	8,760	[1]	'	'	'	'	'
Carrying Value	29,868	[2]	'	'	'	'	24,389
Weighted average life	'12 years 5 months 16 days	[3]	'	'	'	'	'
Agency | Excess Mortgage Servicing Rights Investees	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	91,366,989		'	'	'	'	'
Amortized Cost Basis	381,775	[4]	'	'	'	'	'
Carrying Value	470,400	[5]	'	'	'	'	'
Weighted average life	'6 years 6 months 15 days	[6]	'	'	'	'	'
Agency | Excess Mortgage Servicing Rights Investees | Original and Recaptured Pools	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	91,366,989		'	'	'	'	'
Investee Interest in Excess MSR	66.70%		'	'	'	'	'
New Residential's ownership	50.00%		'	'	'	'	'
Amortized Cost Basis	309,094	[4]	'	'	'	'	'
Carrying Value	378,367	[5]	'	'	'	'	'
Weighted average life	'5 years 1 month 17 days	[6]	'	'	'	'	'
Agency | Excess Mortgage Servicing Rights Investees | Recapture Agreements	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	0		'	'	'	'	'
Investee Interest in Excess MSR	66.70%		'	'	'	'	'
New Residential's ownership	50.00%		'	'	'	'	'
Amortized Cost Basis	72,681	[4]	'	'	'	'	'
Carrying Value	92,033	[5]	'	'	'	'	'
Weighted average life	'12 years 6 months 4 days	[6]	'	'	'	'	'
Non-Agency	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	52,776,751	[7]	'	'	'	'	'
Amortized Cost Basis	162,999	[1],[7]	'	'	'	'	'
Carrying Value	202,886	[2],[7]	'	'	'	'	179,491	[7]
Weighted average life	'5 years 8 months 11 days	[3],[7]	'	'	'	'	'
Non-Agency | Original and Recaptured Pools	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	52,776,751	[7]	'	'	'	'	'
Amortized Cost Basis	151,734	[1],[7]	'	'	'	'	'
Carrying Value	193,676	[2],[7]	'	'	'	'	173,007	[7]
Weighted average life	'5 years 2 months 1 day	[3],[7]	'	'	'	'	'
Non-Agency | Recapture Agreements	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	0	[7]	'	'	'	'	'
Amortized Cost Basis	11,265	[1],[7]	'	'	'	'	'
Carrying Value	9,210	[2],[7]	'	'	'	'	6,484	[7]
Weighted average life	'12 years 8 months 23 days	[3],[7]	'	'	'	'	'
Non-Agency | Excess Mortgage Servicing Rights Investees	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	61,069,238	[7]	'	'	'	'	'
Amortized Cost Basis	195,563	[4],[7]	'	'	'	'	'
Carrying Value	208,746	[5],[7]	'	'	'	'	'
Weighted average life	'5 years 7 months 2 days	[6],[7]	'	'	'	'	'
Non-Agency | Excess Mortgage Servicing Rights Investees | Original and Recaptured Pools	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	61,069,238	[7]	'	'	'	'	'
New Residential's ownership	50.00%	[7]	'	'	'	'	'
Amortized Cost Basis	182,665	[4],[7]	'	'	'	'	'
Carrying Value	196,485	[5],[7]	'	'	'	'	'
Weighted average life	'5 years 1 month 6 days	[6],[7]	'	'	'	'	'
Non-Agency | Excess Mortgage Servicing Rights Investees | Original and Recaptured Pools | Lower Range	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Investee Interest in Excess MSR	66.70%	[7]	'	'	'	'	'
Non-Agency | Excess Mortgage Servicing Rights Investees | Original and Recaptured Pools | Upper Range	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Investee Interest in Excess MSR	77.00%	[7]	'	'	'	'	'
Non-Agency | Excess Mortgage Servicing Rights Investees | Recapture Agreements	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Unpaid principal balance of underlying loans	0	[7]	'	'	'	'	'
New Residential's ownership	50.00%	[7]	'	'	'	'	'
Amortized Cost Basis	12,898	[4],[7]	'	'	'	'	'
Carrying Value	$12,261	[5],[7]	'	'	'	'	'
Weighted average life	'12 years 5 months 1 day	[6],[7]	'	'	'	'	'
Non-Agency | Excess Mortgage Servicing Rights Investees | Recapture Agreements | Lower Range	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Investee Interest in Excess MSR	66.70%	[7]	'	'	'	'	'
Non-Agency | Excess Mortgage Servicing Rights Investees | Recapture Agreements | Upper Range	'		'	'	'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'	'	'	'
Investee Interest in Excess MSR	77.00%	[7]	'	'	'	'	'
[1]	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]	Carrying Value represents the fair value of the pools or Recapture Agreements, as applicable.
[3]	Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[4]	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.
[5]	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.
[6]	The weighted average life represents the weighted average expected timing of the receipt of cash flows of each investment.
[7]	Excess MSR investments in which New Residential also invested in related servicer advances, including the basic fee component of the related MSR as of September 30, 2014 (Note 6).

Recovered_Sheet2

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES - Geographic Distribution (Details) (Excess Mortgage Servicing Rights Investees)	Sep. 30, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'	'
Percentage of UPB	100.00%	100.00%
California	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Percentage of UPB	23.50%	23.50%
Florida	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Percentage of UPB	9.00%	9.20%
New York	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Percentage of UPB	5.50%	5.30%
Texas	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Percentage of UPB	4.80%	4.90%
Georgia	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Percentage of UPB	4.10%	4.00%
New Jersey	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Percentage of UPB	3.80%	3.70%
Illinois	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Percentage of UPB	3.50%	3.50%
Maryland	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Percentage of UPB	3.20%	3.10%
Virginia	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Percentage of UPB	3.20%	3.10%
Washington	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Percentage of UPB	2.80%	2.80%
Other U.S.	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Percentage of UPB	36.60%	36.90%

INVESTMENTS_IN_SERVICER_ADVANC2

INVESTMENTS IN SERVICER ADVANCES (Details Narrative) (USD $)	3 Months Ended
	Sep. 30, 2014		Dec. 31, 2013		Dec. 17, 2013
Investment [Line Items]	'		'		'
Servicer advances, at fair value	$3,214,113,000		$2,665,551,000		'
Servicer base fee to be paid to Nationstar	9.20%		'		'
Servicer Advance Joint Venture	'		'		'
Investment [Line Items]	'		'		'
Servicer advances, at fair value	3,214,113,000	[1]	2,665,551,000	[1]	3,200,000,000
Servicer Advances, Net of Recoveries	3,000,000,000		'		'
Notes payable issued for purchase	2,800,000,000		'		'
New Residential's ownership	45.00%		'		'
Amount committed to invest in joint venture	312,700,000		'		'
Amount invested in joint venture	197,900,000		'		'
Servicer Advance Joint Venture | Noncontrolling third-party investors	'		'		'
Investment [Line Items]	'		'		'
Amount committed to invest in joint venture	389,600,000		'		'
Amount invested in joint venture	390,300,000		'		'
Advance Purchaser LLC [Member]	'		'		'
Investment [Line Items]	'		'		'
Equity Method Investment, Amount of Distributed Capital Recallable From Co-Investor	182,000,000		'		'
Equity Method Investment, Amount of Distributed Capital Recallable	$146,100,000		'		'
[1]	Carrying value represents the fair value of the investments in servicer advances, including the basic fee component of the related MSRs.

INVESTMENTS_IN_SERVICER_ADVANC3

INVESTMENTS IN SERVICER ADVANCES - Investment in Servicer Advances (Details) (USD $)	3 Months Ended			9 Months Ended			12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013	Sep. 30, 2014		Sep. 30, 2013	Dec. 31, 2013		Dec. 17, 2013
Investments in and Advances to Affiliates [Line Items]	'		'	'		'	'		'
Servicer advances, at fair value	$3,214,113		'	$3,214,113		'	$2,665,551		'
Servicer Advance Joint Venture	'		'	'		'	'		'
Investments in and Advances to Affiliates [Line Items]	'		'	'		'	'		'
Servicer advance fee, amortized cost basis	3,108,288		'	3,108,288		'	2,665,551		'
Servicer advances, at fair value	3,214,113	[1]	'	3,214,113	[1]	'	2,665,551	[1]	3,200,000
Servicer advances, weighted average yield	5.50%		'	5.50%		'	5.60%		'
Servicer advance, weighted average life	'4 years 2 months 12 days	[2]	'	'		'	'2 years 8 months 12 days	[2]	'
Change in fair value of investments in servicer advances	$22,948		$0	$105,825		$0	'		'
[1]	Carrying value represents the fair value of the investments in servicer advances, including the basic fee component of the related MSRs.
[2]	Weighted Average Life represents the weighted average expected timing of the receipt of expected net cash flows for this investment.

INVESTMENTS_IN_SERVICER_ADVANC4

INVESTMENTS IN SERVICER ADVANCES - JV Investment in Servicer Advances (Details) (USD $)

Sep. 30, 2014

Jul. 08, 2014

13-May-14

12-May-14

Jan. 17, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 17, 2013

Sep. 30, 2014

Dec. 31, 2013

In Thousands, unless otherwise specified

Servicer Advance Joint Venture

Servicer Advance Joint Venture

Servicer Advance Joint Venture

Servicer Advance Joint Venture

Servicer Advance Joint Venture

Servicer Advances

Servicer Advances

Investment [Line Items]

'

'

'

'

'

'

'

'

'

'

'

Unpaid principal balance of underlying loans

$99,041,165

$2,100,000

$700,000

$12,800,000

$8,100,000

'

'

'

'

$97,398,297

[1]

$43,444,216

[1]

Servicer advances, Outstanding

3,214,113

'

'

'

'

2,665,551

3,214,113

[2]

2,665,551

[2]

3,200,000

3,041,905

[1]

2,661,130

[1]

Servicer Advances to UPB of underlying loans

'

'

'

'

'

'

'

'

'

3.10%

[1]

6.10%

[1]

Notes payable

'

'

'

'

'

'

'

'

'

$2,824,007

[1]

$2,390,778

[1]

Gross Loan-to-Value

'

'

'

'

'

'

'

'

'

91.50%

[1]

89.80%

[1]

Net Loan-to-Value

'

'

'

'

'

'

'

'

'

90.50%

[1],[3]

88.60%

[1],[3]

Gross cost of funds

'

'

'

'

'

'

'

'

'

3.00%

[1],[4]

4.00%

[1],[4]

Net cost of funds

'

'

'

'

'

'

'

'

'

2.20%

[1],[4]

2.30%

[1],[4]

[1]

The following types of advances comprise the investments in servicer advances: September 30, 2014December 31, 2013Principal and interest advances$792,875$1,516,715Escrow advances (taxes and insurance advances)1,556,968934,525Foreclosure advances692,062209,890 Total$3,041,905$2,661,130

[2]

Carrying value represents the fair value of the investments in servicer advances, including the basic fee component of the related MSRs.

[3]

Ratio of face amount of borrowings to par amount of servicer advance collateral, net of an interest reserve maintained by the Buyer.

[4]

Annualized measure of the cost associated with borrowings. Gross Cost of Funds primarily includes interest expense and facility fees. Net Cost of Funds excludes facility fees.

INVESTMENTS_IN_SERVICER_ADVANC5

INVESTMENTS IN SERVICER ADVANCES - Components of Funded Advances (Details) (USD $)	Sep. 30, 2014		Dec. 31, 2013		Dec. 17, 2013
In Thousands, unless otherwise specified
Investment [Line Items]	'		'		'
Servicer advances, Outstanding	$3,214,113		$2,665,551		'
Servicer Advance Joint Venture	'		'		'
Investment [Line Items]	'		'		'
Servicer advances, Outstanding	3,214,113	[1]	2,665,551	[1]	3,200,000
Servicer Advance Joint Venture | Servicer Advances	'		'		'
Investment [Line Items]	'		'		'
Principal and interest advances	792,875		1,516,715		'
Escrow advances (taxes and insurance advances)	1,556,968		934,525		'
Foreclosure advances	692,062		209,890		'
Servicer advances, Outstanding	$3,041,905	[2]	$2,661,130	[2]	'
[1]	Carrying value represents the fair value of the investments in servicer advances, including the basic fee component of the related MSRs.
[2]	The following types of advances comprise the investments in servicer advances: September 30, 2014December 31, 2013Principal and interest advances$792,875$1,516,715Escrow advances (taxes and insurance advances)1,556,968934,525Foreclosure advances692,062209,890 Total$3,041,905$2,661,130

INVESTMENTS_IN_SERVICER_ADVANC6

INVESTMENTS IN SERVICER ADVANCES - Interest Income (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Investment [Line Items]	'	'	'	'
Interest income from investments in servicer advances	$97,587	$21,885	$261,733	$61,075
Servicer Advance Investments [Member]	'	'	'	'
Investment [Line Items]	'	'	'	'
Interest income, gross of amounts attributable to servicer compensation	79,116	0	232,800	0
Amounts attributable to base servicer compensation	-18,914	0	-68,220	0
Amounts attributable to incentive servicer compensation	-9,235	0	-10,790	0
Interest income from investments in servicer advances	$50,967	$0	$153,790	$0

INVESTMENTS_IN_SERVICER_ADVANC7

INVESTMENTS IN SERVICER ADVANCES - Interest (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Investment [Line Items]	'	'	'	'	'
New Residential's investment	$342,538	'	$342,538	'	$352,766
Servicer Advance Joint Venture	'	'	'	'	'
Investment [Line Items]	'	'	'	'	'
New Residential's investment	509,898	'	509,898	'	362,807
Percentage of Investment owned by New Residential	45.00%	'	45.00%	'	'
Net income in joint venture	46,833	0	166,227	0	'
Others'	'	'	'	'	'
Investment [Line Items]	'	'	'	'	'
New Residential's investment	280,445	'	280,445	'	247,225
Percentage of Investment owned by New Residential	55.00%	'	55.00%	'	68.10%
Net income in joint venture	$25,726	$0	$92,524	$0	'
Ownership percentage in joint venture	54.90%	0.00%	55.70%	0.00%	'
Average ownership percentage	45.10%	'	44.30%	'	'

INVESTMENTS_IN_REAL_ESTATE_SEC2

INVESTMENTS IN REAL ESTATE SECURITIES (Details Narrative) (USD $)	9 Months Ended		0 Months Ended					9 Months Ended			9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Aug. 25, 2014	30-May-14	27-May-14	Mar. 30, 2014	Mar. 06, 2014	Sep. 30, 2014	Aug. 25, 2014	27-May-14	Sep. 30, 2014
			Non-Agency RMBS	Non-Agency RMBS	Non-Agency RMBS	Non-Agency RMBS	Non-Agency RMBS	Non-Agency RMBS	Non-Agency RMBS	Non-Agency RMBS	Agency RMBS
			Investment		Investment
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Face amount of securities purchased	'	'	'	'	'	'	$625,000,000	$1,500,000,000	'	'	$1,300,000,000
Federal Home Loan Bank, Advances, Floating Rate	'	'	'	'	'	'	'	'	'	'	300,000,000
Securities, Fixed Fate Specified Pools	'	'	'	'	'	'	'	'	'	'	1,000,000,000
Purchase of Non-Agency RMBS	-1,148,631,000	-202,484,000	'	'	'	'	-553,000,000	-977,900,000	'	'	-1,400,000,000
Face amount of securities sold	'	'	'	'	'	'	'	1,900,000,000	15,400,000	'	746,900,000
Amortized cost basis of securities sold	'	'	13,100,000	'	'	558,800,000	'	1,200,000,000	'	'	791,700,000
Proceeds from sale of real estate securities	'	'	'	'	'	'	'	1,300,000,000	'	'	796,400,000
Gain (loss) on sale of debt investments	'	'	'	39,700,000	'	'	'	60,300,000	'	'	4,700,000
Percentage of mezzanine and subordinate tranche purchased	'	'	'	'	'	'	75.00%	'	'	'	'
Mortgage loans pledged	'	'	'	'	'	'	900,000,000	'	'	'	'
Proceeds from sale of Non-Agency RMBS	1,273,191,000	123,130,000	'	598,500,000	'	'	'	'	'	'	'
Loan count	'	'	19	'	16	'	'	'	'	'	'
Face amount of mortgage loans	'	'	'	'	'	'	'	'	'	17,400,000	'
Investment Owned, at Cost	'	'	'	'	'	'	'	'	'	12,000,000	'
Other than temporary impairment losses	900,000	'	'	'	'	'	'	'	'	'	'
Real estate securities acquired during the period with credit quality deterioration, face amount	384,500,000	'	'	'	'	'	'	'	'	'	'
Real estate securities acquired during the period with credit quality deterioration, expected cash flows	364,500,000	'	'	'	'	'	'	'	'	'	'
Real estate securities acquired during the period with credit quality deterioration, fair value	$277,700,000	'	'	'	'	'	'	'	'	'	'

INVESTMENTS_IN_REAL_ESTATE_SEC3

INVESTMENTS IN REAL ESTATE SECURITIES - Available for Sale (Details) (USD $)

9 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Mar. 06, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Agency RMBS

Non-Agency RMBS

Non-Agency RMBS

Investments in Real Estate Securities

Fixed Rate

Fixed Rate

Floating Rate

Floating Rate

Securities

Securities

Securities

Agency RMBS

Non-Agency RMBS

Agency RMBS

Non-Agency RMBS

Schedule of Available-for-sale Securities [Line Items]

'

'

'

'

'

'

'

'

'

'

'

Outstanding face amount

$2,130,370,000

'

'

$1,697,608,000

[1],[2]

'

$432,762,000

$2,130,370,000

[3]

$1,000,000,000

$18,300,000

$657,400,000

$414,500,000

Amortized cost basis

2,073,084,000

'

'

1,785,873,000

[1],[2]

'

287,211,000

2,073,084,000

[3]

'

'

'

'

Gains - gross unrealized

'

'

'

4,504,000

[1],[2]

'

9,876,000

14,380,000

[3]

'

'

'

'

Losses - gross unrealized

'

'

'

-5,294,000

[1],[2]

'

-2,458,000

-7,752,000

[3]

'

'

'

'

Carrying value

2,079,712,000

'

1,973,189,000

1,785,083,000

[1],[2],[4]

'

294,629,000

[4]

2,079,712,000

[3],[4]

'

'

'

'

Number of securities

'

'

'

104

[1],[2]

'

84

188

[3]

'

'

'

'

Weighted average rating

'

'

'

'AAA

[1],[2],[5]

'

'CCC

[5]

'AA-

[3],[5]

'

'

'

'

Weighted average coupon

'

'

'

3.19%

[1],[2]

'

1.72%

2.89%

[3]

'

'

'

'

Weighted average yield

'

'

'

1.87%

[1],[2]

'

5.63%

2.63%

[3]

'

'

'

'

Weighted average life

'5 years 9 months 14 days

[6]

'

'

'6 years 1 month 21 days

[1],[2],[7]

'

'7 years 7 months 28 days

[7]

'6 years 5 months 12 days

[3],[7]

'

'

'

'

Principal Subordination - Weighted Average

'

'

'

'

'

12.20%

[8]

'

'

'

'

'

Carrying value

2,079,712,000

'

'

1,402,764,000

'

570,425,000

1,973,189,000

'

'

'

'

Purchase of Non-Agency RMBS

-1,148,631,000

-202,484,000

'

-1,400,000,000

-553,000,000

-977,900,000

'

'

'

'

'

RMBS principal receivable

$6,400,000

'

'

'

'

'

'

'

'

'

'

[1]

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”).

[2]

Amortized cost basis and carrying value include principal receivable of $6.4 million.

[3]

The total outstanding face amount was $1.0 billion for fixed rate securities and $657.4 million for floating rate securities.

[4]

Fair value, which is equal to carrying value for all securities. See Note 12 regarding the estimation of fair value.

[5]

Represents the weighted average of the ratings of all securities in each asset type, expressed as an S&P equivalent rating. This excludes the ratings of the collateral underlying six bonds for which New Residential was unable to obtain rating information. For each security rated by multiple rating agencies, the lowest rating is used. New Residential used an implied AAA rating for the Agency RMBS. 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.

[6]

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

[7]

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

[8]

Percentage of the outstanding face amount of securities that is subordinate to New Residential’s investments.

INVESTMENTS_IN_REAL_ESTATE_SEC4

INVESTMENTS IN REAL ESTATE SECURITIES - Holdings in an Unrealized Loss Position (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Dec. 31, 2013
Schedule of Available-for-sale Securities [Line Items]	'		'
Outstanding face amount	$2,130,370		'
Other Than Temporary Impairment	-529		-2,071
Amortized cost basis	2,073,084		'
Carrying value	2,079,712		'
Weighted average life	'5 years 9 months 14 days	[1]	'
Securities in an Unrealized Loss Position Less than Twelve Months	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Outstanding face amount	992,251		'
Before Impairment - Amortized Cost Basis	977,758		'
Other Than Temporary Impairment	143	[2]	'
Amortized cost basis	977,615		'
Gross unrealized losses - less than twelve months	-6,704		'
Carrying value - less than twelve months	970,911		'
Number of securities, less than twelve months	54		'
Weighted average rating	'AA	[3]	'
Weighted average coupon	3.36%		'
Weighted average yield	3.15%		'
Weighted average life	'6 years 6 months 22 days		'
Securities in an Unrealized Loss Position Greater than Twelve Months	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Outstanding face amount	91,156		'
Before Impairment - Amortized Cost Basis	97,387		'
Other Than Temporary Impairment	386	[2]	'
Amortized cost basis	97,001		'
Gross unrealized losses - twelve months or more	-1,048		'
Carrying value - twelve months or more	95,953		'
Number of securities, greater than twelve months	17		'
Weighted average rating	'AA+	[3]	'
Weighted average coupon	3.45%		'
Weighted average yield	1.96%		'
Weighted average life	'4 years 11 months 9 days		'
Securities in a Loss Position [Member]	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Outstanding face amount	1,083,407		'
Before Impairment - Amortized Cost Basis	1,075,145		'
Other Than Temporary Impairment	-529	[2]	'
Amortized cost basis	1,074,616		'
Total gross unrealized losses	-7,752		'
Carrying value	$1,066,864		'
Number of securities	71		'
Weighted average rating	'AA	[3]	'
Weighted average coupon	3.37%		'
Weighted average yield	3.05%		'
Weighted average life	'6 years 5 months 5 days		'
[1]	Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[2]	This amount represents other-than-temporary impairment recorded on securities that are in an unrealized loss position as of September 30, 2014.
[3]	The weighted average rating of securities in an unrealized loss position for less than twelve months excludes the rating of six bonds for which New Residential was unable to obtain rating information.

INVESTMENTS_IN_REAL_ESTATE_SEC5

INVESTMENTS IN REAL ESTATE SECURITIES - Holdings in an Unrealized Loss Position and the Associated Intent to Sell (Details) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Securities Intended To Sell	'
Schedule of Available-for-sale Securities [Line Items]	'
Fair Value	$0	[1]
Amortized Cost Basis after impairment	0	[1]
Unrealized Credit Losses	0	[1],[2]
Unrealized Non-Credit Losses	0	[1],[3]
Securities More Likely Than Not Required to be Sold [Member]	'
Schedule of Available-for-sale Securities [Line Items]	'
Fair Value	0	[1]
Amortized Cost Basis after impairment	0	[1]
Unrealized Credit Losses	0	[1],[2]
Securities No Intent To Sell - Credit Impaired	'
Schedule of Available-for-sale Securities [Line Items]	'
Fair Value	71,755
Amortized Cost Basis after impairment	71,821
Unrealized Credit Losses	-529	[2]
Unrealized Non-Credit Losses	-595	[3]
Securities No Intent To Sell - Non-Credit Impaired	'
Schedule of Available-for-sale Securities [Line Items]	'
Fair Value	995,637
Amortized Cost Basis after impairment	1,002,795
Unrealized Credit Losses	0
Unrealized Non-Credit Losses	-7,157	[3]
Securities in an Unrealized Loss Position	'
Schedule of Available-for-sale Securities [Line Items]	'
Fair Value	1,067,392
Amortized Cost Basis after impairment	1,074,616
Unrealized Credit Losses	-529	[2]
Unrealized Non-Credit Losses	($7,752)	[3]
[1]	A portion of securities New Residential intends to sell have a fair value equal to their amortized cost basis after impairment, and, therefore do not have unrealized losses reflected in other comprehensive income as of September 30, 2014.
[2]	This amount is required to be recorded as other-than-temporary impairment through earnings. In measuring the portion of credit losses, New Residential’s management estimates the expected cash flow for each of the securities. This evaluation includes a review of the credit status and the performance of the collateral supporting those securities, including the credit of the issuer, key terms of the securities and the effect of local, industry and broader economic trends. Significant inputs in estimating the cash flows include management’s expectations of prepayment speeds, default rates and loss severities. Credit losses are measured as the decline in the present value of the expected future cash flows discounted at the investment’s effective interest rate.
[3]	This amount represents unrealized losses on securities that are due to non-credit factors and recorded through other comprehensive income.

INVESTMENTS_IN_REAL_ESTATE_SEC6

INVESTMENTS IN REAL ESTATE SECURITIES - Credit Losses on Debt Securities (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]	'
Beginning balance of credit losses on debt securities for which a portion of an OTTI was recognized in other comprehensive income	$2,071
Increases to credit losses on securities for which an OTTI was previously recognized and a portion of an OTTI was recognized in other comprehensive income	464
Additions for credit losses on securities for which an OTTI was not previously recognized	151
Reduction for credit losses on securities for which no OTTI was recognized in other comprehensive income at the current measurement date	0
Other than Temporary Impairment, Credit Losses Recognized in Earnings, Reductions, Remeasurement	552
Reduction for securities sold during the period	-1,605
Ending balance of credit losses on debt securities for which a portion of an OTTI was recognized in other comprehensive income	$529

INVESTMENTS_IN_REAL_ESTATE_SEC7

INVESTMENTS IN REAL ESTATE SECURITIES - Geographic Distribution of Collateral (Details) (USD $)	Sep. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Schedule of Available-for-sale Securities [Line Items]	'		'
Outstanding face amount	$2,130,370		'
Non-Agency RMBS Excluding Other ABS	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Outstanding face amount	432,762		872,866
Percentage of total outstanding	100.00%		100.00%
Non-Agency RMBS Excluding Other ABS | Western U.S.	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Outstanding face amount	110,692		317,111
Percentage of total outstanding	25.60%		36.30%
Non-Agency RMBS Excluding Other ABS | Southeastern U.S.	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Outstanding face amount	97,618		198,298
Percentage of total outstanding	22.50%		22.70%
Non-Agency RMBS Excluding Other ABS | Northeastern U.S.	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Outstanding face amount	76,957		164,481
Percentage of total outstanding	17.80%		18.90%
Non-Agency RMBS Excluding Other ABS | Midwestern U.S.	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Outstanding face amount	65,262		98,682
Percentage of total outstanding	15.10%		11.30%
Non-Agency RMBS Excluding Other ABS | Southwestern U.S.	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Outstanding face amount	42,117		51,425
Percentage of total outstanding	9.70%		5.90%
Non-Agency RMBS Excluding Other ABS | Other U.S.	'		'
Schedule of Available-for-sale Securities [Line Items]	'		'
Outstanding face amount	$40,116	[1]	$42,869	[1]
Percentage of total outstanding	9.30%	[1]	4.90%	[1]
[1]	Represents collateral for which New Residential was unable to obtain geographic information.

INVESTMENTS_IN_REAL_ESTATE_SEC8

INVESTMENTS IN REAL ESTATE SECURITIES - Credit Quality (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Investments, Debt and Equity Securities [Abstract]	'	'
Real estate securities acquired with credit quality deterioration, face amount	$179,446	$729,895
Real estate securities acquired with credit quality deterioration, carrying value	$140,475	$483,680

INVESTMENTS_IN_REAL_ESTATE_SEC9

INVESTMENTS IN REAL ESTATE SECURITIES - Changes in Accretable Yields (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract]	'
Balance, beginning	$143,067
Additions	86,810
Accretion	-10,947
Reclassifications from non-accretable difference	8,654
Disposals	-156,193
Balance, ending	$54,083

INVESTMENTS_IN_RESIDENTIAL_MOR2

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Narrative (Details) (USD $)

9 Months Ended

9 Months Ended

0 Months Ended

0 Months Ended

9 Months Ended

9 Months Ended

0 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Jul. 08, 2014

13-May-14

12-May-14

Dec. 31, 2013

Sep. 30, 2014

Feb. 27, 2013

Dec. 31, 2012

Aug. 25, 2014

28-May-14

27-May-14

Apr. 04, 2014

Mar. 28, 2014

Jan. 15, 2014

28-May-14

27-May-14

Apr. 04, 2014

Jan. 15, 2014

Mar. 28, 2014

Aug. 25, 2014

Aug. 12, 2014

Jun. 24, 2014

27-May-14

Aug. 25, 2014

Aug. 12, 2014

Jun. 24, 2014

27-May-14

Sep. 30, 2014

27-May-14

Sep. 30, 2014

Sep. 30, 2014

Aug. 25, 2014

27-May-14

Oct. 28, 2014

Oct. 10, 2014

Oct. 09, 2014

Oct. 03, 2014

Oct. 10, 2014

Oct. 09, 2014

Oct. 03, 2014

Reverse Mortgage Loans

Reverse Mortgage Loans

Reverse Mortgage Loans

Non-Performing Loans Held-For-Investment

Non-Performing Loans Held-For-Investment

Non-Performing Loans Held-For-Investment

Non-Performing Loans Held-For-Investment

Non-Performing Loans Held-For-Investment

Non-Performing Loans Held-For-Investment

Non-Performing Loans Held-For-Investment

Non-Performing Loans Held-For-Investment

Non-Performing Loans Held-For-Investment

Non-Performing Loans Held-For-Investment

Non-Performing Loans Held-For-Investment

Performing and Non-Performing Loans Held-For-Investment

Performing and Non-Performing Loans Held-For-Investment

Performing and Non-Performing Loans Held-For-Investment

Performing and Non-Performing Loans Held-For-Investment

Performing and Non-Performing Loans Held-For-Investment

Performing and Non-Performing Loans Held-For-Investment

Performing and Non-Performing Loans Held-For-Investment

Performing and Non-Performing Loans Held-For-Investment

Performing Loans

Performing Loans

Purchased Credit Impaired Loans

Residential Mortgage Loans(E)

Non-Agency RMBS

Non-Agency RMBS

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Credit Suisse

Royal Bank of Scotland

pools

Investment

Investment

Performing Loans

Performing Loans

Performing Loans

Performing Loans

Performing Loans

Performing Loans

Repurchase Agreements

Repurchase Agreements

Mortgage Loans on Real Estate [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loan portfolio, amount

'

'

'

'

'

'

'

'

$83,100,000

'

'

'

'

'

'

$500,300,000

$48,400,000

$17,800,000

'

'

'

'

'

'

$530,100,000

$111,800,000

$82,300,000

$283,600,000

'

'

'

'

'

'

'

'

'

'

$254,900,000

$386,800,000

$463,600,000

Payments to acquire loans

1,357,268,000

0

'

'

'

'

'

'

'

'

373,100,000

40,100,000

15,500,000

'

'

'

'

'

'

'

536,300,000

86,700,000

58,900,000

288,500,000

'

'

'

'

'

'

'

'

'

'

'

188,800,000

357,900,000

493,400,000

'

'

'

Payments to acquire other real estate

6,314,000

0

'

'

'

'

'

'

'

3,000,000

'

1,300,000

'

'

'

'

'

'

'

'

'

'

2,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain (Loss) on Securitization of Financial Assets

'

'

'

'

'

'

'

'

'

'

'

'

11,300,000

'

'

'

'

'

'

'

'

'

'

2,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

1,200,000

'

'

'

Loan count

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

19

16

'

'

'

'

'

'

'

Principal Amount Outstanding on Loans Securitized or Asset-backed Financing Arrangement

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

233,800,000

'

'

'

'

'

'

'

'

'

'

'

Percentage of Investment co-owned by Nationstar

'

'

33.30%

'

33.30%

'

'

30.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Residential mortgage loans, held-for-investment

629,398,000

'

'

'

'

33,539,000

'

35,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest in Excess MSR

'

'

32.50%

33.30%

'

'

'

70.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchases of non-performing loans

'

'

'

'

'

'

0

'

'

'

'

'

'

3,800,000

33,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

107,626,000

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage Loans on Real Estate, Number of Pools

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6

'

'

'

'

'

'

'

'

'

'

Percentage of loans that have reached a termination event

'

'

'

'

'

'

78.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repurchase agreements

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

25,300,000

2,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unpaid principal balance of underlying mortgage

126,500,000

'

'

'

'

0

'

'

'

'

'

'

'

7,000,000

65,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Threshold Period Past Due for Write-off of Financing Receivable

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'30 days

'

'

'30 days

'

'

'

'

'

'

'

'

'

Real Estate Owned From Linked Transactions

32,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Real Estate Owned, Total Assets

19,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage Loans on Real Estate, Unpaid Balance

'

'

'

'

'

'

300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

366,000,000

'

'

'

'

'

'

'

'

'

Proceeds from Sale of Real Estate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$23,700,000

'

'

'

'

'

'

INVESTMENTS_IN_RESIDENTIAL_MOR3

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Residential Mortgage Loans (Details) (USD $)

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

Sep. 30, 2014

Jul. 08, 2014

13-May-14

Sep. 30, 2014

Dec. 31, 2013

Feb. 27, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Reverse Mortgage Loans

Reverse Mortgage Loans

Reverse Mortgage Loans

Performing Loans

Performing Loans

Purchased Credit Impaired Loans

Purchased Credit Impaired Loans

Residential Mortgage Loans Held-for-Investment

Residential Mortgage Loans Held-for-Investment

Residential Mortgage Loans Held-for-Sale

Residential Mortgage Loans Held-for-Sale

Mortgage Loans on Real Estate [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Outstanding face amount

'

'

'

$49,759,000

[1]

'

'

$127,824,000

[2],[3]

'

$665,682,000

'

$843,265,000

'

$463,639,000

'

Mortgage Loans on Real Estate, Carrying Amount of Mortgages, Including Interest

'

'

'

28,226,000

[1]

'

'

100,856,000

[2],[3]

'

500,316,000

'

629,398,000

'

492,399,000

'

Loan count

'

'

'

228

[1]

'

'

697

[2],[3]

'

2,394

'

3,319

'

2,364

'

Weighted average yield

'

'

'

10.30%

[1]

'

'

5.10%

[2],[3]

'

6.00%

'

6.10%

'

3.90%

'

Weighted average life

'5 years 9 months 14 days

[4]

'

'

'3 years 10 months 2 days

[1],[5]

'

'

'4 years 3 months 18 days

[2],[3],[5]

'

'2 years 2 months 12 days

[5]

'

'2 years 7 months 7 days

[5]

'

'6 years 8 months 12 days

[5]

'

Floating rate loans as a percent of face amount

'

'

'

20.60%

[1]

'

'

12.80%

[2],[3]

'

43.40%

'

37.40%

'

2.70%

'

Gross Loan-to-Value

'

'

'

107.00%

[1],[6]

'

'

108.00%

[2],[3],[6]

'

115.00%

[6]

'

113.00%

[6]

'

125.00%

[6]

'

Weighted Average Delinquency

'

'

'

79.60%

[1],[7]

'

'

3.90%

[2],[3],[7]

'

92.70%

[7]

'

78.50%

[7]

'

0.00%

[7]

'

Weighted Average FICO

'

'

'

'

'

'

608

'

559

'

567

'

704

'

Carrying value

'

'

'

28,226,000

33,539,000

[1]

'

99,879,000

0

[2],[3]

'

0

'

33,539,000

'

0

Interest in Excess MSR

'

32.50%

33.30%

'

'

70.00%

'

'

'

'

'

'

'

'

Mortgage Loans on Real Estate, Unpaid Balance

'

'

'

$300,000

'

'

'

'

'

'

'

'

'

'

Percentage of loans that have reached a termination event

'

'

'

78.00%

'

'

'

'

'

'

'

'

'

'

Threshold Period Past Due for Write-off of Financing Receivable

'

'

'

'

'

'

'30 days

'

'

'

'

'

'

'

[1]

Represents a 70% interest New Residential holds in reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.3 million. 78% of these loans have reached a termination event. As a result, the borrower can no longer make draws on these loans. Each loan matures upon the occurrence of a termination event.

[2]

Carrying value includes accrued interest receivable.

[3]

Includes loans that are current or less than 30 days past due at acquisition.

[4]

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

[5]

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

[6]

LTV refers to the ratio comparing the loan’s unpaid principal balance to the value of the collateral property.

[7]

Represents the percentage of the total principal balance that are 60+ days delinquent, none of which are on non-accrual status.

INVESTMENTS_IN_RESIDENTIAL_MOR4

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Geographic Distribution of Residential Mortgage Loans (Details) (Residential Mortgage Loans Held-for-Investment)	Sep. 30, 2014	Dec. 31, 2013
Mortgage Loans on Real Estate [Line Items]	'	'
Total outstanding (percent)	100.00%	100.00%
California	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Total outstanding (percent)	23.00%	5.70%
New York	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Total outstanding (percent)	16.70%	22.00%
New Jersey	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Total outstanding (percent)	8.30%	6.90%
Illinois	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Total outstanding (percent)	5.80%	7.70%
Florida	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Total outstanding (percent)	4.50%	21.20%
Maryland	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Total outstanding (percent)	4.00%	2.80%
Connecticut	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Total outstanding (percent)	3.30%	3.90%
Massachusetts	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Total outstanding (percent)	3.10%	4.10%
Washington	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Total outstanding (percent)	3.00%	3.90%
Pennsylvania	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Total outstanding (percent)	2.90%	0.90%
Other U.S.	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Total outstanding (percent)	25.40%	20.90%

INVESTMENTS_IN_RESIDENTIAL_MOR5

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Past Due Performing Loans (Details) (Delinquency Status(A))	Sep. 30, 2014
Delinquency Status(A)	'
Financing Receivable, Recorded Investment, Past Due [Line Items]	'
Current	74.90%
30-59	21.20%
60 to 89	2.30%
90-119	0.80%
120 and greater	0.80%
Total Loans	100.00%

INVESTMENTS_IN_RESIDENTIAL_MOR6

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Carrying Value of Residential Mortgage Loans (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Reverse Mortgage Loans	'
Movement in Mortgage Loans on Real Estate [Roll Forward]	'
Balance, beginning	$33,539	[1]
Purchases / additional fundings	0
Proceeds from repayments	-2,143
Accretion of loan discount and other amortization	4,819
Transfer of loans to other assets	-7,165
Transfer of loans held for sale	0
Reversal of valuation provision on loans transferred to other assets	54
Allowance for loan losses	-878
Balance, ending	28,226
Performing Loans	'
Movement in Mortgage Loans on Real Estate [Roll Forward]	'
Balance, beginning	0	[2],[3]
Purchases / additional fundings	107,626
Proceeds from repayments	-9,205
Accretion of loan discount and other amortization	2,171
Transfer of loans to other assets	0
Transfer of loans held for sale	0
Reversal of valuation provision on loans transferred to other assets	0
Allowance for loan losses	-713
Balance, ending	$99,879
[1]	Represents a 70% interest New Residential holds in reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.3 million. 78% of these loans have reached a termination event. As a result, the borrower can no longer make draws on these loans. Each loan matures upon the occurrence of a termination event.
[2]	Carrying value includes accrued interest receivable.
[3]	Includes loans that are current or less than 30 days past due at acquisition.

INVESTMENTS_IN_RESIDENTIAL_MOR7

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Valuation Allowance on Residential Mortgage Loans (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Reverse Mortgage Loans	'
Financing Receivable, Allowance for Credit Losses [Roll Forward]	'
Balance at December 31, 2013	$461
Charge-offs	0
Reversal of valuation provision on loans transferred to other assets	-54
AllowanceForLoanLosses	878
Balance at September 30, 2014	1,285
Performing Loans	'
Financing Receivable, Allowance for Credit Losses [Roll Forward]	'
Balance at December 31, 2013	0
Charge-offs	0
Reversal of valuation provision on loans transferred to other assets	0
AllowanceForLoanLosses	713
Balance at September 30, 2014	$713

INVESTMENTS_IN_RESIDENTIAL_MOR8

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Schedule of Required Payment Receivables (Details) (Purchased Credit Impaired Loans, USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Purchased Credit Impaired Loans	'
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items]	'
Contractually Required Payments Receivable	$1,307,248
Cash Flows Expected to be Collected	635,787
Fair Value	$508,603

INVESTMENTS_IN_RESIDENTIAL_MOR9

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Schedule of Unpaid Principal and Carrying Value (Details) (Purchased Credit Impaired Loans, USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Purchased Credit Impaired Loans	'	'
Mortgage Loans on Real Estate [Line Items]	'	'
Unpaid principal balance	$665,682	$0
Carrying value	$500,316	$0

Recovered_Sheet3

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Schedule of Accretable Yield Movement (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]	'
Beginning balance	$0
Additions	127,184
Accretion	-16,772
Reclassifications from non-accretable difference(A)	5,322	[1]
Disposals(B)	-4,122
Ending balance	$111,612
[1]	Represents a probable and significant increase in cash flows previously expected to be uncollectible.

Recovered_Sheet4

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Loans Held For Sale (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014
In Thousands, unless otherwise specified			Loans Held For Sale [Member]
Long Lived Assets Held-for-sale [Line Items]	'	'	'
Loans held for sale beginning balance	$492,399	$0	$0
Purchases	'	'	490,806
Proceeds from repayments	'	'	-556
Valuation provision on loans	'	'	0
Loans held for sale ending balance	$492,399	$0	$490,250

INVESTMENTS_IN_CONSUMER_LOANS_2

INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES (Details Narrative) (USD $)

0 Months Ended

0 Months Ended

12 Months Ended

Jul. 08, 2014

Sep. 30, 2014

Jul. 08, 2014

13-May-14

12-May-14

Jan. 17, 2014

Apr. 01, 2014

Apr. 01, 2014

Apr. 01, 2014

Dec. 31, 2013

Sep. 30, 2014

Apr. 01, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Affilate of Blackstone Tactical Opportunities Advisors LLC [Member]

Fortress-managed Affiliate

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

unsecured_loan

Class A Asset Backed Notes

Class B Asset Backed Notes

Class B Asset Backed Notes

Schedule of Equity Method Investments [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unpaid principal balance of underlying loans

'

$99,041,165,000

$2,100,000,000

$700,000,000

$12,800,000,000

$8,100,000,000

'

'

'

'

'

$4,200,000,000

'

'

'

'

Number of loans in portfolio

'

'

'

'

'

'

'

'

'

'

'

400,000

'

'

'

'

Acquisitions of investments in consumer loan equity method investees

5,700,000

'

'

'

'

'

'

'

250,000,000

'

'

'

'

'

'

'

Ownership percentage in equity method investees

'

'

'

'

'

'

'

'

'

30.00%

30.00%

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

'

'

'

'

'

'

'

'

2,200,000,000

'

'

'

'

'

'

'

Purchase price of portfolio

'

'

'

'

'

'

'

'

3,000,000,000

'

'

'

'

'

'

'

Percentage of par at which notes were sold

'

'

'

'

'

'

'

'

'

96.00%

'

'

'

'

'

'

Debt Instrument, Face Amount

'

$5,585,600,000

'

'

'

'

'

'

'

'

'

'

'

$1,100,000,000

$300,000,000

$400,000,000

Interest Rate

'

'

'

'

'

'

'

'

'

'

'

'

'

3.75%

4.00%

'

Percentage of UPB of loans against outstanding debt where cash can be released

'

'

'

'

'

'

'

'

'

'

'

'

'

50.00%

'

'

Percentage of cash flows required to be paid against notes when threshold is reached

'

'

'

'

'

'

'

'

'

'

'

'

'

70.00%

15.00%

'

INVESTMENTS_IN_CONSUMER_LOANS_3

INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES - Summary of Investments (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013	Sep. 30, 2014		Sep. 30, 2013	Apr. 01, 2014	Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]	'		'	'		'	'	'
New Residential's investment	$264,039		'	$264,039		'	'	$215,062
New Residential's equity in net income	22,490		24,129	60,185		60,293	'	'
Consumer Loan Investees	'		'	'		'	'	'
Schedule of Equity Method Investments [Line Items]	'		'	'		'	'	'
Consumer loan assets	2,192,487		'	2,192,487		'	'	2,572,577
Other assets	163,824		'	163,824		'	'	192,830
Debt	-1,458,277	[1]	'	-1,458,277	[1]	'	'	-2,010,433	[1]
Other liabilities	-17,904		'	-17,904		'	'	-32,712
Equity	880,130		'	880,130		'	'	722,262
New Residential's investment	264,039		'	264,039		'	'	215,062
New Residential's ownership	30.00%		30.00%	30.00%		30.00%	30.00%	30.00%
Interest income	129,551		157,692	407,995		325,822	'	'
Interest expense	-17,685		-22,420	-57,986		-47,010	'	'
Provision for finance receivable losses	-20,494		-30,568	-82,313		-31,122	'	'
Other expenses, net	-17,925		-24,272	-57,656		-46,713	'	'
Change in fair value of debt	1,522		0	-14,810		0	'	'
Net income	74,969		80,432	195,230		200,977	'	'
New Residential's equity in net income	$22,490		$24,129	$60,185		$60,293	'	'
[1]	Represents the Class A asset-backed notes with a face amount of $1.1 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 $0.3 billion, an interest rate of 4.0% and a maturity of December 2024. Substantially all of the net cash flow generated by the Consumer Loan Companies was required to be used to pay down the Class A notes. In June 2014, the balance of the outstanding Class A notes was reduced to 50% of the outstanding UPB of the performing consumer loans and the managing member was reimbursed by the Consumer Loan Companies for accumulated expenses. Prospectively, 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. See Note 18 for recent activities related to the debt at the Consumer Loan Companies.

INVESTMENTS_IN_CONSUMER_LOANS_4

INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES - Consumer Loans (Details) (USD $)

9 Months Ended

9 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2014

Jul. 08, 2014

13-May-14

12-May-14

Jan. 17, 2014

Sep. 30, 2014

Apr. 01, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Class A Asset Backed Notes

Class B Asset Backed Notes

Class B Asset Backed Notes

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Schedule of Equity Method Investments [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Face Amount

$5,585,600

'

'

'

'

'

'

'

'

$1,100,000

$300,000

$400,000

'

'

Unpaid principal balance of underlying loans

99,041,165

2,100,000

700,000

12,800,000

8,100,000

'

4,200,000

'

'

'

'

'

2,827,355

3,298,769

New Residential's ownership

'

'

'

'

'

30.00%

30.00%

30.00%

30.00%

'

'

'

30.00%

30.00%

Carrying value

'

'

'

'

'

'

'

'

'

'

'

'

$2,192,487

$2,572,577

Weighted average coupon

'

'

'

'

'

'

'

'

'

'

'

'

18.20%

18.30%

Weighted Average Yield

'

'

'

'

'

'

'

'

'

'

'

'

16.90%

15.90%

Weighted average life

'5 years 9 months 14 days

[1]

'

'

'

'

'

'

'

'

'

'

'

'3 years 5 months 27 days

'3 years 2 months 12 days

[1]

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

INVESTMENTS_IN_CONSUMER_LOANS_5

INVESTMENTS IN CONSUMER LOANS EQUITY METHOD INVESTEES - Rollforward (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014		Sep. 30, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'		'
Balance at December 31, 2013	'	'	$215,062,000		'
Earnings from investments in consumer loans, equity method investees	22,490,000	24,129,000	60,185,000		60,293,000
Balance at September 30, 2014	264,039,000	'	264,039,000		'
Consumer Loan Investees	'	'	'		'
Schedule of Equity Method Investments [Line Items]	'	'	'		'
Balance at December 31, 2013	'	'	215,062,000		'
Contributions to equity method investees	'	'	0		'
Distributions of earnings from equity method investees	'	'	-11,208,000	[1]	'
Distributions of earnings from consumer loan equity method investees	'	'	0		'
Earnings from investments in consumer loans, equity method investees	22,490,000	24,129,000	60,185,000		60,293,000
Balance at September 30, 2014	264,039,000	'	264,039,000		'
Consumer Loan, Equity Method Investees	'	'	'		'
Schedule of Equity Method Investments [Line Items]	'	'	'		'
Distributions of earnings from equity method investees	'	'	-10,599,000		-60,293,000
Non-cash tax witholding payment	'	'	$600,000		'
[1]	During the nine months ended September 30, 2014, the Consumer Loan Companies distributed $10.6 million in cash to, and made $0.6 million in tax withholding payments on behalf of, New Residential. The tax withholding payments were considered a non-cash distribution.

DERIVATIVES_Details

DERIVATIVES (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

2 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Jul. 08, 2014

13-May-14

12-May-14

Jan. 17, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Apr. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Non-Performing Loans

Non-Performing Loans

Non-Performing Loans

Real Estate Securities

Real Estate Securities

Real Estate Securities

TBAs

TBAs

TBAs

TBA Short Positions

Interest Rate Swap

Interest Rate Swap

Interest Rate Swap

Interest Rate Swap

Non-Performing Loans Repurchase Agreements Derivatives

Non-Performing Loans Repurchase Agreements Derivatives

Real Estate Securities Repurchase Agreements Derivatives

Real Estate Securities Repurchase Agreements Derivatives

U.S.T. Short Positions

U.S.T. Short Positions

Minimum [Member]

Maximum [Member]

interest_rate_swap

interest_rate_swap

interest_rate_swap

Interest Rate Swap

Interest Rate Swap

Derivative [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Interest Rate Swap Agreements

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3

11

11

'

'

'

'

'

'

'

'

'

Notional Amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$500,000,000

$1,600,000,000

$1,600,000,000

'

'

'

'

'

'

'

'

'

Debt Instrument, Term

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'3 years

'

'

'

'

'

'

'

'

'

'2 years

'10 years

Derivative Asset, Notional Amount

'

'

'

'

'

'

'

'

'

161,561,000

[1]

161,561,000

[1]

164,598,000

[1]

0

[2]

0

[2]

10,000,000

[2]

1,301,000,000

[3]

1,301,000,000

[3]

0

[3]

1,300,000,000

'

1,595,000,000

[3]

1,595,000,000

[3]

0

[3]

'

'

'

'

'

'

'

'

Gain (loss) on derivative instruments

4,799,000

0

2,355,000

0

'

'

'

'

'

5,111,000

[4]

4,797,000

[4]

'

0

[4],[5]

26,000

[4],[5]

'

33,000

263,000

'

'

'

-345,000

-2,731,000

'

'

'

'

'

'

'

'

'

Derivative assets at fair value

28,686,000

'

28,686,000

'

'

'

'

'

35,926,000

27,571,000

[4]

27,571,000

[4]

34,474,000

[4]

0

[4]

0

[4]

1,452,000

[4]

1,115,000

1,115,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative liability

345,000

'

345,000

'

'

'

'

'

18,000

'

'

'

0

0

18,000

'

'

'

'

'

345,000

345,000

0

'

'

'

'

'

'

'

'

Gain (loss) on sale of derivatives

-2,403,000

0

-6,186,000

0

'

'

'

'

'

'

'

'

0

43,000

'

-2,403,000

-6,405,000

'

'

'

'

'

'

'

'

'

'

0

176,000

'

'

Linked Transactions Derivatives

27,571,000

'

27,571,000

'

'

'

'

'

35,926,000

96,836,000

[6]

96,836,000

[6]

95,014,000

[6]

0

[7]

0

[7]

9,952,000

[7]

'

'

'

'

'

'

'

'

-69,265,000

[8]

-60,540,000

[8]

0

[8]

-8,500,000

[8]

'

'

'

'

Unpaid principal balance of underlying loans

99,041,165,000

'

99,041,165,000

'

2,100,000,000

700,000,000

12,800,000,000

8,100,000,000

'

161,600,000

161,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total gains (losses)

$2,396,000

'

($3,831,000)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

Represents the UPB of the underlying loans of the non-performing loan pools within linked transactions.

[2]

Represents the face amount of the real estate securities within linked transactions.

[3]

Represents the notional amount of Agency RMBS, classified as derivatives.(D)Receive LIBOR and pay a fixed rate.

[4]

Investments purchased from, and financed by, the selling counterparty that New Residential accounts for as linked transactions and are reflected as derivatives.

[5]

{F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmE1MzEwMTBjOTg1ZDQzYzNiNGM3NWMxYjE5N2EwYzlifFRleHRTZWxlY3Rpb246MDk0NEUwRTg5NEJEMEE1OEQ1RURFRjZGRUY3RTAxQUUM}

[6]

Non-performing loans that had a UPB of $161.6 million as of September 30, 2014, which represented the notional amount of the linked transaction and accrued interest.

[7]

Real estate securities that had a current face amount of $10.0 million as of December 31, 2013, which represented the notional amount of the linked transaction.

[8]

Represents carrying amount that approximates fair value.

DEBT_OBLIGATIONS_Debt_Obligati

DEBT OBLIGATIONS - Debt Obligations (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Dec. 31, 2013
Debt Instrument [Line Items]	'		'
Outstanding Face Amount	$5,585,600		'
Carrying Value	5,585,600		4,109,329
Weighted Average Funding Cost	2.17%		'
Weighted Average Life (Years)	'5 years 9 months 14 days	[1]	'
Residential Mortgage Loans(E)	'		'
Debt Instrument [Line Items]	'		'
Variable Interest Rate Spread	3.25%		'
Consumer Loans	'		'
Debt Instrument [Line Items]	'		'
Variable Interest Rate Spread	2.00%		'
Servicer Advances	'		'
Debt Instrument [Line Items]	'		'
Carrying Value	2,824,007	[2]	'
Secured Corporate Loan | Lower Range	'		'
Debt Instrument [Line Items]	'		'
Variable Interest Rate Spread	1.30%		'
Secured Corporate Loan | Upper Range	'		'
Debt Instrument [Line Items]	'		'
Variable Interest Rate Spread	2.40%		'
Debt [Member]	'		'
Debt Instrument [Line Items]	'		'
Weighted Average Life (Years)	'1 year 3 months 22 days		'
Repurchase Agreements | Agency ARM RMBS	'		'
Debt Instrument [Line Items]	'		'
Outstanding Face Amount	1,510,765	[3]	'
Carrying Value	1,510,765	[3]	1,332,954	[3]
Weighted Average Funding Cost	0.31%	[3]	'
Weighted Average Life (Years)	'1 month	[3]	'
Repurchase Agreements | Agency ARM RMBS | Collateral	'		'
Debt Instrument [Line Items]	'		'
Weighted Average Life (Years)	'6 years 3 months 4 days	[3]	'
Outstanding Face Amount of Collateral	1,500,141	[3]	'
Amortized Cost Basis of Collateral	1,571,199	[3]	'
Carrying Value of Collateral	1,570,328	[3]	'
Repurchase Agreements | Non-Agency RMBS	'		'
Debt Instrument [Line Items]	'		'
Outstanding Face Amount	214,972	[4]	'
Carrying Value	214,972	[4]	287,757	[4]
Weighted Average Funding Cost	1.79%	[4]	'
Weighted Average Life (Years)	'1 month 17 days	[4]	'
Repurchase Agreements | Non-Agency RMBS | Collateral	'		'
Debt Instrument [Line Items]	'		'
Weighted Average Life (Years)	'8 years 5 months 5 days	[4]	'
Outstanding Face Amount of Collateral	323,438	[4]	'
Amortized Cost Basis of Collateral	260,995	[4]	'
Carrying Value of Collateral	267,769	[4]	'
Repurchase Agreements | Residential Mortgage Loans(E)	'		'
Debt Instrument [Line Items]	'		'
Outstanding Face Amount	871,659	[5]	'
Carrying Value	871,659		0
Weighted Average Funding Cost	2.60%		'
Weighted Average Life (Years)	'1 year 9 months 7 days		'
Repurchase Agreements | Residential Mortgage Loans(E) | Collateral	'		'
Debt Instrument [Line Items]	'		'
Weighted Average Life (Years)	'4 years 1 month 6 days	[5]	'
Outstanding Face Amount of Collateral	1,257,145		'
Amortized Cost Basis of Collateral	1,089,677		'
Carrying Value of Collateral	1,093,571		'
Repurchase Agreements | Consumer Loans	'		'
Debt Instrument [Line Items]	'		'
Outstanding Face Amount	125,000	[6]	'
Carrying Value	125,000	[6]	0	[6]
Weighted Average Funding Cost	3.45%	[6]	'
Weighted Average Life (Years)	'3 months 18 days	[6]	'
Repurchase Agreements | Consumer Loans | Collateral	'		'
Debt Instrument [Line Items]	'		'
Weighted Average Life (Years)	'3 years 6 months	[6]	'
Carrying Value of Collateral	264,039	[6]	'
Repurchase Agreements | Real Estate Owned(G)	'		'
Debt Instrument [Line Items]	'		'
Outstanding Face Amount	15,953	[7]	'
Carrying Value	15,953	[7]	0	[7]
Weighted Average Funding Cost	2.89%	[7]	'
Weighted Average Life (Years)	'5 months 1 day	[7]	'
Repurchase Agreements | Real Estate Owned(G) | Collateral	'		'
Debt Instrument [Line Items]	'		'
Carrying Value of Collateral	38,840	[7]	'
Repurchase Agreements | Total Repurchase Agreements	'		'
Debt Instrument [Line Items]	'		'
Outstanding Face Amount	2,738,349	[8]	'
Carrying Value	2,738,349	[8]	1,620,711	[8]
Weighted Average Funding Cost	1.31%	[8]	'
Weighted Average Life (Years)	'7 months 19 days	[8]	'
Notes Payable, Other Payables | Residential Mortgage Loans(E)	'		'
Debt Instrument [Line Items]	'		'
Outstanding Face Amount	23,244	[9]	'
Carrying Value	23,244	[9]	22,840	[9]
Weighted Average Funding Cost	3.41%	[9]	'
Weighted Average Life (Years)	'1 month 6 days	[9]	'
Notes Payable, Other Payables | Residential Mortgage Loans(E) | Collateral	'		'
Debt Instrument [Line Items]	'		'
Weighted Average Life (Years)	'3 years 10 months 2 days	[9]	'
Outstanding Face Amount of Collateral	49,759	[9]	'
Amortized Cost Basis of Collateral	29,511	[9]	'
Carrying Value of Collateral	28,226	[9]	'
Notes Payable, Other Payables | Servicer Advances	'		'
Debt Instrument [Line Items]	'		'
Outstanding Face Amount	2,824,007	[10]	'
Carrying Value	2,824,007	[10]	2,390,778	[10]
Weighted Average Funding Cost	2.99%	[10]	'
Weighted Average Life (Years)	'1 year 11 months 22 days	[10]	'
Notes Payable, Other Payables | Servicer Advances | Collateral	'		'
Debt Instrument [Line Items]	'		'
Weighted Average Life (Years)	'4 years 2 months 12 days	[10]	'
Outstanding Face Amount of Collateral	3,041,905	[10]	'
Amortized Cost Basis of Collateral	3,108,288	[10]	'
Carrying Value of Collateral	3,214,113	[10]	'
Notes Payable, Other Payables | Total Notes Payable	'		'
Debt Instrument [Line Items]	'		'
Outstanding Face Amount	2,847,251		'
Carrying Value	2,847,251		2,488,618
Weighted Average Funding Cost	2.99%		'
Weighted Average Life (Years)	'1 year 11 months 16 days		'
Notes Payable, Other Payables | Secured Corporate Loan	'		'
Debt Instrument [Line Items]	'		'
Carrying Value	'		$75,000	[10]
[1]	Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[2]	New Residential’s unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions. New Residential pays a 0.5% fee on the unused borrowing capacity.
[3]	The counterparties of these repurchase agreements are Mizuho ($288.1 million), Morgan Stanley ($78.0 million), Barclays ($644.7 million), Daiwa ($146.5 million) and Jefferies ($353.5 million) and were subject to customary margin call provisions.
[4]	The counterparties of these repurchase agreements are Barclays ($8.2 million), Credit Suisse ($49.6 million), Royal Bank of Scotland ($102.3 million), Royal Bank of Canada ($11.7 million), Bank of America ($1.9 million), Goldman Sachs ($27.2 million) and UBS ($14.0 million) and were subject to customary margin call provisions. All of the Non-Agency repurchase agreements have LIBOR-based floating interest rates.
[5]	The counterparties on these repurchase agreements are Bank of America N.A. ($531.0 million), Nomura ($317.6 million), Citibank ($16.1 million) and Royal Bank of Scotland ($6.9 million). All of these repurchase agreements have LIBOR-based floating interest rates.
[6]	The repurchase agreement is payable to Credit Suisse and bears interest equal to one-month LIBOR plus 2.0%.
[7]	The counterparties of these repurchase agreements are Royal Bank of Scotland ($9.4 million), Credit Suisse ($3.3 million), Bank of America, N.A. ($2.0 million) and Nomura ($1.3 million). All of these repurchase agreements have LIBOR-based floating interest rates.
[8]	These repurchase agreements had approximately $1.0 million of associated accrued interest payable as of September 30, 2014.
[9]	The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 3.25%.
[10]	$1.3 billion face amount of the notes have a fixed rate while the remaining notes bear interest equal to the sum of (i) a floating rate index rate equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.3% to 2.4%.

DEBT_OBLIGATIONS_Details_Narra

DEBT OBLIGATIONS (Details Narrative) (USD $)

9 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

3 Months Ended

0 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

0 Months Ended

1 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

1 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

30-May-14

Mar. 06, 2014

Mar. 31, 2014

Sep. 30, 2014

30-May-14

Sep. 30, 2014

30-May-14

Mar. 31, 2014

Mar. 31, 2014

Feb. 28, 2014

Jul. 18, 2014

Jul. 25, 2014

Jul. 18, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Jan. 08, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Jan. 15, 2014

Oct. 20, 2014

Feb. 28, 2014

Jun. 30, 2014

Jan. 08, 2014

Jan. 15, 2014

Aug. 12, 2014

Sep. 08, 2014

Aug. 25, 2014

Aug. 12, 2014

2-May-14

15-May-14

15-May-14

30-May-14

28-May-14

Jun. 24, 2014

Jun. 24, 2014

30-May-14

Jun. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Repurchase Agreements

NRART Master Trust

NRART Master Trust

Non-Agency RMBS

Non-Agency RMBS

Non-Agency RMBS

Non-Agency RMBS

Agency RMBS

Agency RMBS

Agency RMBS

Lower Range

Upper Range

Bank of America

Bank of America

Credit Suisse

J.P. Morgan Bank

Total Repurchase Agreements

Total Repurchase Agreements

Total Repurchase Agreements

Agency RMBS Repurchase Agreements

Agency RMBS Repurchase Agreements

Agency RMBS Repurchase Agreements

Agency RMBS Repurchase Agreements

Agency RMBS Repurchase Agreements

Agency RMBS Repurchase Agreements

Agency RMBS Repurchase Agreements

Non-agency RMBS Repurchase Agreements

Non-agency RMBS Repurchase Agreements

Non-agency RMBS Repurchase Agreements

Non-agency RMBS Repurchase Agreements

Non-agency RMBS Repurchase Agreements

Non-agency RMBS Repurchase Agreements

Non-agency RMBS Repurchase Agreements

Non-agency RMBS Repurchase Agreements

Non-agency RMBS Repurchase Agreements

Consumer Loans Repurchase Agreements

Consumer Loans Repurchase Agreements

Consumer Loans Repurchase Agreements

Real Estate Owned(G)

Real Estate Owned(G)

Real Estate Owned(G)

Real Estate Owned(G)

Real Estate Owned(G)

Real Estate Owned(G)

Secured Corporate Loan

Secured Corporate Loan

Secured Corporate Loan

Residential Mortgage Loans(E)

Residential Mortgage Loans(E)

Residential Mortgage Loans(E)

Residential Mortgage Loans(E)

Residential Mortgage Loans(E)

Residential Mortgage Loans(E)

Residential Mortgage Loans(E)

Residential Mortgage Loans(E)

Residential Mortgage Loans(E)

Residential Mortgage Loans

Master Credit Suisse Repurchase Agreement

Servicer Advance Notes

Servicer Advance Notes

Servicer Advance Notes

Repurchase Agreement Maturing January 14, 2015

London Interbank Offered Rate (LIBOR)

London Interbank Offered Rate (LIBOR)

London Interbank Offered Rate (LIBOR)

London Interbank Offered Rate (LIBOR)

London Interbank Offered Rate (LIBOR)

Bank of America

Bank of America

Bank of America

Bank of America

Morgan Stanley

Citibank

Citibank

Nomura

Nomura

Nomura

Nomura

Nomura

Credit Suisse

Linked transactions [Member]

TBA Short Positions

Prepaid Variable Funding Notes

Prepaid Term Notes

NRART Master Trust

NRART Master Trust

Line of Credit [Member]

Notes Payable to Banks [Member]

Notes Payable to Banks [Member]

Notes Payable to Banks [Member]

Repurchase Agreements

Repurchase Agreements

Repurchase Agreements

Repurchase Agreements

Mizuho

Morgan Stanley

Daiwa

Jefferies

Barclays

Repurchase Agreements

Repurchase Agreements

Barclays

Credit Suisse

Royal Bank of Scotland

Royal Bank of Canada

Bank of America

Goldman Sachs

UBS

Repurchase Agreements

Repurchase Agreements

Repurchase Agreements

Repurchase Agreements

Credit Suisse

Royal Bank of Scotland

Nomura

Bank of America, N.A. [Member]

Notes Payable, Other Payables

Lower Range

Upper Range

Notes Payable, Other Payables

Notes Payable, Other Payables

Repurchase Agreements

Repurchase Agreements

Royal Bank of Scotland

Citibank

Nomura

Bank of America, N.A. [Member]

Notes Payable, Other Payables

Notes Payable, Other Payables

Bank of America

Master Credit Suisse Repurchase Agreement

Master Credit Suisse Repurchase Agreement

Repurchase Agreement Maturing January 14, 2015

London Interbank Offered Rate (LIBOR)

London Interbank Offered Rate (LIBOR)

London Interbank Offered Rate (LIBOR)

London Interbank Offered Rate (LIBOR)

Servicer Advances

Residential Mortgage Loans(E)

London Interbank Offered Rate (LIBOR)

Repurchase Agreements

Repurchase Agreements

Residential Mortgage Loans(E)

London Interbank Offered Rate (LIBOR)

London Interbank Offered Rate (LIBOR)

Residential Mortgage Loans

Prepaid Variable Funding Notes

Prepaid Variable Funding Notes

Line of Credit [Member]

Repurchase Agreements

Repurchase Agreements

Repurchase Agreements

Repurchase Agreements

Residential Mortgage Loans(E)

Repurchase Agreements

Repurchase Agreements

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest payable

$246,000

'

$4,010,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$1,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repurchase agreements

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

288,100,000

78,000,000

146,500,000

353,500,000

644,700,000

'

'

8,200,000

49,600,000

102,300,000

11,700,000

1,900,000

27,200,000

14,000,000

'

'

'

'

'

3,300,000

9,400,000

1,300,000

2,000,000

'

'

'

'

'

'

'

'

6,900,000

16,100,000

317,600,000

531,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Outstanding Face Amount

5,585,600,000

'

'

'

1,100,000,000

1,000,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,738,349,000

[1]

'

1,510,765,000

[2]

'

'

'

'

'

'

214,972,000

[3]

'

'

'

'

'

'

'

'

'

125,000,000

[4]

'

15,953,000

[5]

'

'

'

'

'

'

'

'

'

23,244,000

[6]

'

871,659,000

[7]

'

'

'

'

'

'

150,000,000

'

2,824,007,000

[8]

'

25,300,000

'

'

'

'

'

'

6,700,000

467,300,000

66,800,000

617,500,000

48,400,000

'

21,600,000

478,700,000

85,300,000

'

'

'

'

'

Long-term Debt

5,585,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

125,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from sale of Non-Agency RMBS

1,273,191,000

123,130,000

'

'

'

'

598,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Carrying Value

5,585,600,000

'

4,109,329,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

457,300,000

'

2,738,349,000

[1]

1,620,711,000

[1]

1,510,765,000

[2]

1,332,954,000

[2]

'

'

'

'

'

214,972,000

[3]

287,757,000

[3]

'

'

'

'

'

'

'

'

125,000,000

[4]

0

[4]

15,953,000

[5]

0

[5]

'

'

'

'

75,000,000

[8]

'

'

'

23,244,000

[6]

22,840,000

[6]

871,659,000

0

'

'

'

'

933,511,000

[9]

'

2,824,007,000

[10]

2,824,007,000

[8]

2,390,778,000

[8]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

49,200,000

[9]

'

Variable Interest Rate Spread

'

'

'

'

'

'

'

'

'

'

'

'

'

1.38%

2.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.00%

'

'

'

'

'

'

'

'

'

1.30%

2.40%

3.25%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.88%

2.50%

2.00%

4.00%

3.00%

2.25%

'

'

'

'

'

2.75%

'

'

'

2.75%

2.75%

'

'

'

Line of Credit Facility, Maximum Borrowing Capacity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,000,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Debt Covenant, Default Provision, Equity, Percentage Decline With No Tangible Net Equity Provision

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Debt Covenant, Default Provision, Equity, Percentage Decline With Tangible Net Equity Provision

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

35.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Debt Covenant, Default Provision, Tangible Net Equity Provision

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Concentration Risk, Credit Risk, Financial Instrument, Maximum Exposure

'

'

'

2,700,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Face amount of fixed rate debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,300,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Face amount of securities purchased

'

'

'

'

'

'

'

625,000,000

'

1,500,000,000

'

1,300,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative Asset, Notional Amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,300,000,000

Line of Credit Facility, Advance Rate Percent

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

90.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest rate

'

'

'

'

'

2.00%

'

'

'

'

'

'

'

'

'

'

'

'

2.45%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.10%

'

'

'

'

'

'

'

'

'

'

Borrowings under notes payable

5,377,633,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

26,700,000

12,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchase of Non-Agency RMBS

1,148,631,000

202,484,000

'

'

'

'

'

553,000,000

'

977,900,000

'

1,400,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of mezzanine and subordinate tranche purchased

'

'

'

'

'

'

'

75.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage loans pledged

'

'

'

'

'

'

'

900,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from Sale of Finance Receivables

'

'

'

'

'

'

'

'

415,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from Sale of Other Investments

'

'

'

'

'

'

'

'

'

'

598,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unused borrowing capacity fee

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.50%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Payments of secured corporate loan

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

69,100,000

'

'

Borrowing capacity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,503,992,000

[9]

'

4,305,200,000

[10]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

300,000,000

[9]

'

Gain (Loss) on Sale of Investments

'

'

'

'

'

'

'

'

'

'

39,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amortized cost basis of securities sold

'

'

'

'

'

'

'

'

'

'

'

'

$558,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

These repurchase agreements had approximately $1.0 million of associated accrued interest payable as of September 30, 2014.

[2]

The counterparties of these repurchase agreements are Mizuho ($288.1 million), Morgan Stanley ($78.0 million), Barclays ($644.7 million), Daiwa ($146.5 million) and Jefferies ($353.5 million) and were subject to customary margin call provisions.

[3]

The counterparties of these repurchase agreements are Barclays ($8.2 million), Credit Suisse ($49.6 million), Royal Bank of Scotland ($102.3 million), Royal Bank of Canada ($11.7 million), Bank of America ($1.9 million), Goldman Sachs ($27.2 million) and UBS ($14.0 million) and were subject to customary margin call provisions. All of the Non-Agency repurchase agreements have LIBOR-based floating interest rates.

[4]

The repurchase agreement is payable to Credit Suisse and bears interest equal to one-month LIBOR plus 2.0%.

[5]

The counterparties of these repurchase agreements are Royal Bank of Scotland ($9.4 million), Credit Suisse ($3.3 million), Bank of America, N.A. ($2.0 million) and Nomura ($1.3 million). All of these repurchase agreements have LIBOR-based floating interest rates.

[6]

The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 3.25%.

[7]

The counterparties on these repurchase agreements are Bank of America N.A. ($531.0 million), Nomura ($317.6 million), Citibank ($16.1 million) and Royal Bank of Scotland ($6.9 million). All of these repurchase agreements have LIBOR-based floating interest rates.

[8]

$1.3 billion face amount of the notes have a fixed rate while the remaining notes bear interest equal to the sum of (i) a floating rate index rate equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.3% to 2.4%.

[9]

Includes $300.0 million of borrowing capacity and $49.2 million of balance outstanding related to one of New Residential's linked transactions (Note 10).

[10]

New Residential’s unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions. New Residential pays a 0.5% fee on the unused borrowing capacity.

DEBT_OBLIGATIONS_Contractual_M

DEBT OBLIGATIONS - Contractual Maturity of Debt (Details) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Debt maturing in:	'
October 1 through December 31, 2014	$1,765,297
2015	758,903
2016	2,552,000
2017	509,400
Total	5,585,600
Nonrecourse	'
Debt maturing in:	'
October 1 through December 31, 2014	652,913
2015	614,507
2016	2,019,011
2017	509,400
Total	3,795,831
Recourse	'
Debt maturing in:	'
October 1 through December 31, 2014	1,112,384	[1]
2015	144,396	[1]
2016	532,989	[1]
2017	0	[1]
Total	$1,789,769	[1]
[1]	Excludes recourse debt related to linked transactions (Note 10).

DEBT_OBLIGATIONS_Borrowing_Cap

DEBT OBLIGATIONS - Borrowing Capacity (Details) (USD $)	Sep. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Instrument [Line Items]	'		'
Balance oustanding	$5,585,600		$4,109,329
Residential Mortgage Loans	'		'
Debt Instrument [Line Items]	'		'
Borrowing capacity	1,503,992	[1]	'
Balance oustanding	933,511	[1]	'
Available financing	570,481	[1]	'
Servicer Advance Notes	'		'
Debt Instrument [Line Items]	'		'
Borrowing capacity	4,305,200	[2]	'
Balance oustanding	2,824,007	[2]	'
Available financing	1,481,193	[2]	'
Debt Excess Borrowing Capacity	'		'
Debt Instrument [Line Items]	'		'
Borrowing capacity	5,809,192		'
Balance oustanding	3,757,518		'
Available financing	$2,051,674		'
[1]	Includes $300.0 million of borrowing capacity and $49.2 million of balance outstanding related to one of New Residential's linked transactions (Note 10).
[2]	New Residential’s unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions. New Residential pays a 0.5% fee on the unused borrowing capacity.

FAIR_VALUE_OF_FINANCIAL_INSTRU2

FAIR VALUE OF FINANCIAL INSTRUMENTS - Recurring Basis (Details) (USD $)	Sep. 30, 2014		Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Investments in:	'		'	'	'
Excess mortgage servicing rights, at fair value	$409,236		$324,151	'	'
Excess mortgage servicing rights, equity method investees, at fair value	342,538		352,766	'	'
Servicer advances	3,214,113		2,665,551	'	'
Real estate securities, available-for-sale	2,079,712		1,973,189	'	'
Residential mortgage loans, held-for-investment	629,398		33,539	'	'
Derivative assets	28,686		35,926	'	'
Cash and cash equivalents	187,601		271,994	172,203	0
Restricted cash	29,962		33,338	'	'
Liabilities	'		'	'	'
Repurchase agreements	2,738,349		1,620,711	'	'
Notes payable	2,847,251		2,488,618	'	'
Derivative liability	345		18	'	'
Recurring Basis | Level 1	'		'	'	'
Investments in:	'		'	'	'
Cash and cash equivalents	187,601		'	'	'
Restricted cash	29,962		'	'	'
Assets, fair value	217,563		'	'	'
Recurring Basis | Level 2	'		'	'	'
Investments in:	'		'	'	'
Real estate securities, available-for-sale	1,785,083		'	'	'
Derivative assets	1,115	[1]	'	'	'
Assets, fair value	1,786,198		'	'	'
Liabilities	'		'	'	'
Repurchase agreements	1,725,737		'	'	'
Notes payable	1,081,673		'	'	'
Derivative liability	345		'	'	'
Financial and Nonfinancial Liabilities, Fair Value Disclosure	2,807,755		'	'	'
Recurring Basis | Level 3	'		'	'	'
Investments in:	'		'	'	'
Excess mortgage servicing rights, at fair value	409,236	[2]	'	'	'
Excess mortgage servicing rights, equity method investees, at fair value	342,538	[2]	352,766	'	'
Servicer advances	3,214,113		'	'	'
Real estate securities, available-for-sale	294,629		'	'	'
Residential mortgage loans, held-for-investment	638,901		'	'	'
Residential mortgage loans, held for sale(C)	491,575		'	'	'
Derivative assets	27,571	[1]	'	'	'
Assets, fair value	5,418,563		'	'	'
Liabilities	'		'	'	'
Repurchase agreements	1,012,612		'	'	'
Notes payable	1,768,743		'	'	'
Derivative liability	0		'	'	'
Financial and Nonfinancial Liabilities, Fair Value Disclosure	2,781,355		'	'	'
Recurring Basis | Principal Balance or Notional Amount	'		'	'	'
Investments in:	'		'	'	'
Excess mortgage servicing rights, at fair value	99,041,165	[2]	'	'	'
Excess mortgage servicing rights, equity method investees, at fair value	152,436,227	[2]	'	'	'
Servicer advances	3,041,905		'	'	'
Real estate securities, available-for-sale	2,130,370		'	'	'
Residential mortgage loans, held-for-investment	843,265		'	'	'
Residential mortgage loans, held for sale(C)	463,639		'	'	'
Derivative assets	1,462,561	[1]	'	'	'
Cash and cash equivalents	187,601		'	'	'
Restricted cash	29,962		'	'	'
Liabilities	'		'	'	'
Repurchase agreements	2,738,349		'	'	'
Notes payable	2,847,251		'	'	'
Derivative liability	1,595,000		'	'	'
Recurring Basis | Carrying Value	'		'	'	'
Investments in:	'		'	'	'
Excess mortgage servicing rights, at fair value	409,236	[2]	'	'	'
Excess mortgage servicing rights, equity method investees, at fair value	342,538	[2]	'	'	'
Servicer advances	3,214,113		'	'	'
Real estate securities, available-for-sale	2,079,712		'	'	'
Residential mortgage loans, held-for-investment	626,941		'	'	'
Residential mortgage loans, held for sale(C)	490,250		'	'	'
Derivative assets	28,686	[1]	'	'	'
Cash and cash equivalents	187,601		'	'	'
Restricted cash	29,962		'	'	'
Assets, fair value	7,409,039		'	'	'
Liabilities	'		'	'	'
Repurchase agreements	2,738,349		'	'	'
Notes payable	2,847,251		'	'	'
Derivative liability	345		'	'	'
Financial and Nonfinancial Liabilities, Fair Value Disclosure	5,585,945		'	'	'
Recurring Basis | Fair Value	'		'	'	'
Investments in:	'		'	'	'
Excess mortgage servicing rights, at fair value	409,236	[2]	'	'	'
Excess mortgage servicing rights, equity method investees, at fair value	342,538	[2]	'	'	'
Servicer advances	3,214,113		'	'	'
Real estate securities, available-for-sale	2,079,712		'	'	'
Residential mortgage loans, held-for-investment	638,901		'	'	'
Residential mortgage loans, held for sale(C)	491,575		'	'	'
Derivative assets	28,686	[1]	'	'	'
Cash and cash equivalents	187,601		'	'	'
Restricted cash	29,962		'	'	'
Assets, fair value	7,422,324		'	'	'
Liabilities	'		'	'	'
Repurchase agreements	2,738,349		'	'	'
Notes payable	2,850,416		'	'	'
Derivative liability	345		'	'	'
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$5,589,110		'	'	'
[1]	The notional amount represents the total unpaid principal balance of the mortgage loans for residential mortgage loans, held for investment.
[2]	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 non-performing loans in Agency portfolios.

FAIR_VALUE_OF_FINANCIAL_INSTRU3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Level 3 Rollforward (Details) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Excess Mortgage Servicing Rights Investees

Level 3

Recurring Basis

Recurring Basis

Recurring Basis

Recurring Basis

Recurring Basis

Recurring Basis

Recurring Basis

Recurring Basis

MSRs Agency

Level 3

Level 3

Level 3

Level 3

Level 3

Level 3

Level 3

Level 3

Recurring Basis

Linked Transactions

Non-Agency RMBS

Servicer Advances

MSRs Agency

MSRs Agency

MSRs Non-Agency

MSRs Non-Agency

Level 3

Excess Mortgage Servicing Rights Investees

Excess Mortgage Servicing Rights Investees

Excess Mortgage Servicing Rights Investees

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance, beginning

'

'

'

'

'

$4,288,087

$3,948,819

$35,926

$570,425

$2,665,551

$144,660

[1]

$245,399

[1],[2]

$179,491

[1]

$107,367

[1],[2]

'

Gains (losses) included in net income

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Included in other-than-temporary impairment (“OTTI”) on securities

'

'

'

'

'

'

-479

[3]

'

-479

[3]

'

'

'

'

'

'

Included in change in fair value of investments in excess mortgage servicing rights

'

'

'

'

'

'

40,670

[3]

'

'

'

19,590

[1],[3]

'

21,080

[1],[3]

'

'

Included in change in fair value of investments in excess mortgage servicing rights, equity method investees

'

'

'

'

'

'

23,887

[3]

'

'

'

'

'

'

8,825

[1],[2],[3]

15,062

[1],[2],[3]

Included in change in fair value of investments in servicer advances

'

'

'

'

'

'

105,825

'

'

105,825

[3]

'

'

'

'

'

Included in gain on settlement of investments

938

11,213

57,834

11,271

'

'

60,296

0

60,296

'

'

'

'

'

'

Included in other income

'

'

'

'

'

'

5,163

[3]

4,840

'

0

[3]

323

'

'

'

'

Gains (losses) included in other comprehensive income, net of tax

'

'

'

'

'

'

3,753

[4]

'

3,753

[4]

'

'

'

'

'

'

Interest income

'

'

'

'

'

'

235,528

'

16,972

153,790

15,808

[1]

'

21,895

[1]

8,216

[1],[2]

18,847

[1],[2]

Purchases, sales and repayments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchases

'

'

'

'

'

'

6,632,079

9,758

977,877

5,569,238

56,074

[1]

'

19,132

[1]

'

'

Purchase adjustments

'

'

'

'

'

'

346

0

'

'

-59

[1]

'

405

[1]

'

'

Proceeds from sales

'

'

'

'

'

'

-1,274,686

-1,495

-1,273,191

'

'

'

'

'

'

Proceeds from repayments

'

'

'

'

'

'

-5,480,657

-9,001

-61,024

-5,280,291

-30,046

[1]

'

-39,117

[1]

-19,772

[1],[2]

-41,406

[1],[2]

Transfers to REO

'

'

'

'

'

'

-12,457

-12,457

'

'

'

'

'

'

'

Balance, ending

'

'

'

'

'

$4,288,087

'

$27,571

$294,629

$3,214,113

$206,350

[1]

$245,399

[1],[2]

$202,886

[1]

$104,636

[1],[2]

$237,902

[1],[2]

New Residential's ownership

'

'

'

'

50.00%

'

'

'

'

'

'

'

'

'

'

[1]

Includes the Recapture Agreement for each respective pool.

[2]

Amounts represent New Residential’s portion of the Excess MSRs held by the respective joint ventures in which New Residential has a 50% interest.

[3]

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.

[4]

These gains (losses) were included in net unrealized gain (loss) on securities in the Condensed Consolidated Statements of Comprehensive Income.

FAIR_VALUE_OF_FINANCIAL_INSTRU4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Inputs Excess MSRs (Details)	9 Months Ended
	Sep. 30, 2014
Held Directly (Note 3):	'
Prepayment speed	12.20%	[1]
Delinquency	7.10%	[2]
Recapture rate	24.10%	[3]
Excess Mortgage Servicing Amount (bps)	17	[4]
Directly Held [Member]	'
Held Directly (Note 3):	'
Prepayment speed	11.60%	[1]
Delinquency	7.90%	[2]
Recapture rate	20.70%	[3]
Excess Mortgage Servicing Amount (bps)	18	[4]
Held through Equity Method Investees [Member]	'
Held Directly (Note 3):	'
Prepayment speed	12.60%	[1]
Delinquency	6.80%	[2]
Recapture rate	25.90%	[3]
Excess Mortgage Servicing Amount (bps)	17	[4]
Agency | Directly Held [Member]	'
Held Directly (Note 3):	'
Prepayment speed	11.60%	[1]
Delinquency	7.90%	[2]
Recapture rate	31.10%	[3]
Excess Mortgage Servicing Amount (bps)	22	[4]
Agency | Directly Held [Member] | Original and Recaptured Pools	'
Held Directly (Note 3):	'
Prepayment speed	11.90%	[1]
Delinquency	8.20%	[2]
Recapture rate	30.80%	[3]
Excess Mortgage Servicing Amount (bps)	22	[4]
Agency | Directly Held [Member] | Recapture Agreements	'
Held Directly (Note 3):	'
Prepayment speed	8.10%	[1]
Delinquency	4.60%	[2]
Recapture rate	35.00%	[3]
Excess Mortgage Servicing Amount (bps)	20	[4]
Agency | Held through Equity Method Investees [Member]	'
Held Directly (Note 3):	'
Prepayment speed	13.10%	[1]
Delinquency	6.80%	[1]
Recapture rate	33.20%	[3]
Excess Mortgage Servicing Amount (bps)	19	[4]
Agency | Held through Equity Method Investees [Member] | Original and Recaptured Pools	'
Held Directly (Note 3):	'
Prepayment speed	14.30%	[1]
Delinquency	7.20%	[2]
Recapture rate	32.80%	[3]
Excess Mortgage Servicing Amount (bps)	19	[4]
Agency | Held through Equity Method Investees [Member] | Recapture Agreements	'
Held Directly (Note 3):	'
Prepayment speed	8.00%	[1]
Delinquency	5.00%	[2]
Recapture rate	35.00%	[3]
Excess Mortgage Servicing Amount (bps)	22	[4]
Non-Agency | Directly Held [Member]	'
Held Directly (Note 3):	'
Prepayment speed	11.60%	[1]
Recapture rate	11.60%	[3]
Excess Mortgage Servicing Amount (bps)	15	[4]
Non-Agency | Directly Held [Member] | Original and Recaptured Pools	'
Held Directly (Note 3):	'
Prepayment speed	11.90%	[1]
Recapture rate	9.90%	[3]
Excess Mortgage Servicing Amount (bps)	15	[4]
Non-Agency | Directly Held [Member] | Recapture Agreements	'
Held Directly (Note 3):	'
Prepayment speed	8.00%	[1]
Recapture rate	35.00%	[3]
Excess Mortgage Servicing Amount (bps)	21	[4]
Non-Agency | Held through Equity Method Investees [Member]	'
Held Directly (Note 3):	'
Prepayment speed	11.60%	[1]
Recapture rate	11.50%	[3]
Excess Mortgage Servicing Amount (bps)	12	[4]
Non-Agency | Held through Equity Method Investees [Member] | Original and Recaptured Pools	'
Held Directly (Note 3):	'
Prepayment speed	11.90%	[1]
Recapture rate	9.90%	[3]
Excess Mortgage Servicing Amount (bps)	12	[4]
Non-Agency | Held through Equity Method Investees [Member] | Recapture Agreements	'
Held Directly (Note 3):	'
Prepayment speed	8.00%	[1]
Recapture rate	35.00%	[3]
Excess Mortgage Servicing Amount (bps)	19	[4]
[1]	Projected annualized weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector.
[2]	Projected percentage of mortgage loans in the pool that will miss their mortgage payments.
[3]	Percentage of voluntarily prepaid loans that are expected to be refinanced by Nationstar.
[4]	Weighted average total mortgage servicing amount in excess of the basic fee.

FAIR_VALUE_OF_FINANCIAL_INSTRU5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Investments in Equity Method Investees Fair Value (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013	Sep. 30, 2014		Sep. 30, 2013
Schedule of Equity Method Investments [Line Items]	'		'	'		'
Balance at December 31, 2013	'		'	$352,766		'
Change in fair value of investments in equity method investees	31,833		20,645	50,950		41,741
Balance at June 30, 2014	342,538		'	342,538		'
Recurring Basis | Level 3	'		'	'		'
Schedule of Equity Method Investments [Line Items]	'		'	'		'
Balance at December 31, 2013	'		'	352,766		'
Distributions of earnings from equity method investees	'		'	34,680		'
Distributions of capital from equity method investees	'		'	26,498		'
Change in fair value of investments in equity method investees	'		'	50,950		'
Balance at June 30, 2014	$342,538	[1]	'	$342,538	[1]	'
[1]	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 non-performing loans in Agency portfolios.

FAIR_VALUE_OF_FINANCIAL_INSTRU6

FAIR VALUE OF FINANCIAL INSTRUMENTS - Inputs Servicer Advances (Details)	9 Months Ended		12 Months Ended
	Sep. 30, 2014		Dec. 31, 2013
Fair Value Inputs, Equity, Quantitative Information [Line Items]	'		'
Prepayment Speed	12.20%	[1]	'
Delinquency	7.10%	[2]	'
Mortgage Servicing Amount (bps)	17	[3]	'
Servicer Advances	'		'
Fair Value Inputs, Equity, Quantitative Information [Line Items]	'		'
Outstanding Servicer Advances to UPB of Underlying Residential Mortgage Loans	2.10%		2.70%
Prepayment Speed	11.70%		13.20%
Delinquency	16.60%		20.00%
Mortgage Servicing Amount (bps)	19.6		21.2
Discount Rate	5.50%		5.60%
[1]	Projected annualized weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector.
[2]	Projected percentage of mortgage loans in the pool that will miss their mortgage payments.
[3]	Weighted average total mortgage servicing amount in excess of the basic fee.

FAIR_VALUE_OF_FINANCIAL_INSTRU7

FAIR VALUE OF FINANCIAL INSTRUMENTS - Real Estate Securities Valuation (Details) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Outstanding face amount	$2,130,370
Amortized cost basis	2,073,084
Total Fair Value	2,079,712
Multiple Quotes	'
Total Fair Value	2,017,501	[1]
Single Quote	'
Total Fair Value	62,211	[2]
Agency RMBS	'
Outstanding face amount	1,697,608	[3],[4]
Amortized cost basis	1,785,873	[3],[4]
Total Fair Value	1,402,764
Agency RMBS | Level 2	'
Total Fair Value	1,785,083
Agency RMBS | Multiple Quotes | Level 2	'
Total Fair Value	1,736,126	[1]
Agency RMBS | Single Quote | Level 3	'
Total Fair Value	48,957
Non-Agency RMBS	'
Outstanding face amount	432,762
Amortized cost basis	287,211
Total Fair Value	570,425
Non-Agency RMBS | Level 3	'
Total Fair Value	294,629
Non-Agency RMBS | Multiple Quotes | Level 3	'
Total Fair Value	281,375	[1]
Non-Agency RMBS | Single Quote | Level 3	'
Total Fair Value	$13,254	[2]
[1]	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.
[2]	Management was unable to obtain quotations from more than one source on these securities. The one source was the seller (the party that sold New Residential the security).
[3]	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]	Amortized cost basis and carrying value include principal receivable of $6.4 million.

FAIR_VALUE_OF_FINANCIAL_INSTRU8

FAIR VALUE OF FINANCIAL INSTRUMENTS - Reverse Mortgage Loans (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013	Sep. 30, 2014		Sep. 30, 2013
Mortgage Loans on Real Estate [Line Items]	'		'	'		'
Valuation allowance/(reversal) in current year	$1,134		$0	$1,591		$0
Delinquency	'		'	7.10%	[1]	'
Weighted average life	'		'	'5 years 9 months 14 days	[2]	'
Prepayment speed	'		'	12.20%	[3]	'
Reverse Mortgage Loans	'		'	'		'
Mortgage Loans on Real Estate [Line Items]	'		'	'		'
Valuation allowance/(reversal) in current year	'		'	824		'
Discount rate	'		'	10.30%		'
Interest in Reverse mortgage loans	'		'	70.00%		'
Weighted average life	'		'	'3 years 10 months 2 days	[4],[5]	'
Performing Loans	'		'	'		'
Mortgage Loans on Real Estate [Line Items]	'		'	'		'
Discount rate	'		'	5.10%		'
Delinquency	'		'	1.60%		'
Weighted average life	'		'	'4 years 3 months 18 days	[5],[6],[7]	'
Prepayment speed	'		'	5.20%		'
Non-Performing Loans	'		'	'		'
Mortgage Loans on Real Estate [Line Items]	'		'	'		'
Discount rate	'		'	6.00%		'
Delinquency	'		'	3.00%		'
Fair Value Inputs, Loss Severity	'		'	31.10%		'
Carrying Value | Reverse Mortgage Loans	'		'	'		'
Mortgage Loans on Real Estate [Line Items]	'		'	'		'
Carrying value	28,226	[8]	'	28,226	[8]	'
Carrying Value | Performing Loans	'		'	'		'
Mortgage Loans on Real Estate [Line Items]	'		'	'		'
Carrying value	99,879		'	99,879		'
Carrying Value | Non-Performing Loans	'		'	'		'
Mortgage Loans on Real Estate [Line Items]	'		'	'		'
Carrying value	498,836		'	498,836		'
Fair Value | Reverse Mortgage Loans	'		'	'		'
Mortgage Loans on Real Estate [Line Items]	'		'	'		'
Fair value	28,226	[8]	'	28,226	[8]	'
Fair Value | Performing Loans	'		'	'		'
Mortgage Loans on Real Estate [Line Items]	'		'	'		'
Fair value	104,758		'	104,758		'
Fair Value | Non-Performing Loans	'		'	'		'
Mortgage Loans on Real Estate [Line Items]	'		'	'		'
Fair value	$505,917		'	$505,917		'
[1]	Projected percentage of mortgage loans in the pool that will miss their mortgage payments.
[2]	Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[3]	Projected annualized weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector.
[4]	Represents a 70% interest New Residential holds in reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.3 million. 78% of these loans have reached a termination event. As a result, the borrower can no longer make draws on these loans. Each loan matures upon the occurrence of a termination event.
[5]	The weighted average life is based on the expected timing of the receipt of cash flows.
[6]	Carrying value includes accrued interest receivable.
[7]	Includes loans that are current or less than 30 days past due at acquisition.
[8]	Represents a 70% interest New Residential holds in the reverse mortgage loans.

FAIR_VALUE_OF_FINANCIAL_INSTRU9

FAIR VALUE OF FINANCIAL INSTRUMENTS - Narrative (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014
Excess Mortgage Servicing Rights Investees | MSRs	'
Schedule of Equity Method Investments [Line Items]	'
Weighted Average Discount Rate, Percent	10.00%
Fair Value	'
Schedule of Equity Method Investments [Line Items]	'
Fair value	1,079
Carrying Value	'
Schedule of Equity Method Investments [Line Items]	'
Fair value	1,082

EQUITY_AND_EARNINGS_PER_SHARE_1

EQUITY AND EARNINGS PER SHARE (Details Narrative) (USD $)

0 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

1 Months Ended

3 Months Ended

9 Months Ended

9 Months Ended

0 Months Ended

1 Months Ended

0 Months Ended

1 Months Ended

0 Months Ended

Sep. 18, 2014

Jun. 17, 2014

Mar. 19, 2014

Jan. 31, 2014

Dec. 17, 2013

Apr. 30, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Aug. 25, 2014

6-May-13

Apr. 29, 2013

Apr. 30, 2014

Apr. 30, 2014

Apr. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

15-May-13

Sep. 30, 2014

Sep. 30, 2014

7-May-14

Aug. 31, 2014

Apr. 30, 2014

7-May-14

Aug. 31, 2014

Apr. 30, 2014

Jul. 31, 2014

Common Stock

Executive Officer

Executive Officer

Manager

Manager

Manager

Manager

Manager

Independent Directors

Independent Directors

FIG LLC

FIG LLC

FIG LLC

FIG LLC

FIG LLC

FIG LLC

Subsequent Event

Common Stock

Common Stock

Common Stock

Common Stock

Common Stock

Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, shares authorized

'

'

'

'

'

'

2,000,000,000

'

'

2,000,000,000

'

2,000,000,000

'

'

'

2,000,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, par value

'

'

'

'

'

'

$0.01

'

'

$0.01

'

$0.01

'

'

'

$0.01

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred stock, shares authorized

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred stock, par value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$0.01

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, shares outstanding

'

'

'

'

'

'

141,382,603

'

'

126,598,987

'

141,382,603

'

141,400,000

126,512,823

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Per share exchange ratio in spin-off

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Issuance of common stock (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

13,875,000

'

500,000

'

'

'

'

'

'

25,080

'

'

'

'

'

'

'

Share price (in dollars)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$12.20

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$12.20

'

Issuance of common stock

'

'

'

'

'

$163,800,000

'

'

'

'

'

$173,201,000

$0

'

'

'

'

$6,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Options granted to Manager

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,437,500

'

'

'

'

Fair value of options granted to Manager

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,400,000

'

'

'

'

Risk-free interest rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.87%

'

'

'

'

Dividend yield

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12.58%

'

'

'

'

Volatility

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

25.66%

'

'

'

'

Term

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'10 years

'

'

'

'

Option exercise (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

107,500

498,500

'

'

'

'

'

Exercise price of options exercised

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$5.61

$5.62

'

'

'

'

'

Option exercise (in shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

107,500

276,037

'

'

Common Stock, Shares, Outstanding, Prior to Stock Split

'

'

'

'

'

'

'

'

'

'

'

'

'

282,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Dividend declared per share

$0.35

$0.35

'

$0.50

$0.35

'

$0.35

'

'

'

$0.35

$1.20

$0.49

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$0.50

Dividends

'

'

'

'

'

'

$49,500,000

$70,600,000

$44,300,000

$63,300,000

'

$164,349,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Quarterly dividend declared, prior to any special dividends

'

'

$0.35

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Special cash dividend

'

$0.15

'

'

$0.15

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares held by Fortress and affiliates in Newcastle

'

'

'

'

'

'

2,400,000

'

'

'

'

2,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Dilutive Common Stock Equivalents

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,955,021

3,408,249

3,158,619

1,754,208

'

'

'

'

'

'

'

'

'

'

Stock Options outstanding

'

'

'

'

'

'

10,860,907

'

'

'

'

10,860,907

'

'

'

'

'

'

'

8,970,161

'

8,970,161

'

10,700,000

5,000

'

'

'

'

'

'

'

'

EQUITY_AND_EARNINGS_PER_SHARE_2

EQUITY AND EARNINGS PER SHARE - Outstanding Options (Details) (USD $)	0 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	10,860,907
Strike Price	'	$10.46
Maturity Date	NaN, NaN	'
Options - Strike Price 33.90	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	81,248
Strike Price	'	$33.90
Maturity Date	22-Nov-14	'
Options - Strike Price 31.94	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	164,999
Strike Price	'	$31.94
Maturity Date	12-Jan-15	'
Options - Strike Price 33.36	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	1,000
Strike Price	'	$33.36
Maturity Date	1-Aug-15	'
Options - Strike Price 31.74	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	85,000
Strike Price	'	$31.74
Maturity Date	1-Nov-16	'
Options - Strike Price 33.80	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	121,000
Strike Price	'	$33.80
Maturity Date	23-Jan-17	'
Options - Strike Price 29.92	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	228,000
Strike Price	'	$29.92
Maturity Date	11-Apr-17	'
Options - Strike Price 6.58	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	547,583
Strike Price	'	$6.58
Maturity Date	29-Mar-21	'
Options - Strike Price 4.98	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	849,916
Strike Price	'	$4.98
Maturity Date	27-Sep-21	'
Options - Strike Price 6.82	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	933,583
Strike Price	'	$6.82
Maturity Date	3-Apr-22	'
Options - Strike Price 7.34	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	1,132,499
Strike Price	'	$7.34
Maturity Date	21-May-22	'
Option - Strike Price 7.34	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	1,249,583
Strike Price	'	$7.34
Maturity Date	31-Jul-22	'
Options - Strike Price 10.24	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	2,874,998
Strike Price	'	$10.24
Maturity Date	11-Jan-23	'
Options - Strike Price 11.48	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	1,149,998
Strike Price	'	$11.48
Maturity Date	15-Feb-23	'
Options - Strike Price 13.58	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	4,000
Strike Price	'	$13.58
Maturity Date	2-Jun-23	'
Options - Strike Price 12.20	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	'	1,437,500
Strike Price	'	$12.20
Maturity Date	30-Apr-24	'

EQUITY_AND_EARNINGS_PER_SHARE_3

EQUITY AND EARNINGS PER SHARE - Outstanding Options Summary (Details)	Sep. 30, 2014	15-May-13
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	10,860,907	'
Held by the Manager	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	8,970,161	10,700,000
Issued to the Manager and subsequently transferred to certain of the Manager’s employees	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	1,843,180	'
Issued to the independent directors	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	5,000	'
Former Employees [Member]	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'
Stock Options outstanding	42,566	'

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES (Details Narrative) (Excess Mortgage Servicing Rights Investees, USD $)	Sep. 30, 2014
In Millions, unless otherwise specified
Excess Mortgage Servicing Rights Investees	'
Outstanding capital commitments	$8

TRANSACTIONS_WITH_AFFILIATES_A2

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES - Affiliate Transactions (Details) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013		Dec. 31, 2013
Related Party Transaction [Line Items]	'		'		'		'		'
Due to Affiliate, Total	$35,141		'		$35,141		'		$19,169
Management fees	5,124		4,484		14,525		6,747		'
Incentive compensation	10,910		4,470		33,111		5,348		'
Manager	'		'		'		'		'
Related Party Transaction [Line Items]	'		'		'		'		'
Management fees	1,709		'		1,709		'		1,495
Incentive compensation	33,111		'		33,111		'		16,847
Expense reimbursements and other	321		'		321		'		827
Due to Affiliate, Total	35,141		'		35,141		'		19,169
Management fees	5,124		4,484		14,525		6,747		'
Incentive compensation	10,910		4,470		33,111		5,348		'
Expense reimbursements	125	[1]	267	[1]	375	[1]	267	[1]	'
Total payments to affiliate	$16,159		$9,221		$48,011		$12,362		'
[1]	Included in General and Administrative Expenses in the Condensed Consolidated Statements of Income.

TRANSACTIONS_WITH_AFFILIATES_A3

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES (Details Narrative) (USD $)	9 Months Ended									1 Months Ended
	Sep. 30, 2014	Jul. 08, 2014	13-May-14	12-May-14	Jan. 17, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014	Aug. 06, 2014
						Nationstar [Member]	Nationstar [Member]	Nationstar [Member]	Nationstar [Member]	Subsequent Event
							Non-Agency RMBS	Agency RMBS	Non-Performing Loans	Nationstar [Member]
										Non-Performing Loans
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'	'	'
Change in incentive compensation to affiliate	$5,500,000	'	'	'	'	'	'	'	'	'
Debt Instrument, Face Amount	5,585,600,000	'	'	'	'	'	412,800,000	41,500,000	'	'
Unpaid principal balance of underlying loans	99,041,165,000	2,100,000,000	700,000,000	12,800,000,000	8,100,000,000	99,300,000,000	4,000,000,000	'	601,200,000	'
Principal Amount Outstanding on Transfers of Loans to Servicer During Period	'	'	'	'	'	'	'	'	'	111,800,000
Unpaid Balance of Real Estate Owned	'	'	'	'	'	$11,300,000	'	'	'	'

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, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'	'	'
Reclassification of net realized (gain) loss on securities into earnings	($3,668)	($11,213)	($64,501)	($7,515)
Gain on settlement of securities	'	'	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'	'	'
Reclassification of net realized (gain) loss on securities into earnings	-3,668	-11,213	-65,444	-11,271
Other-Than-Temporary Investment	'	'	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'	'	'
Reclassification of net realized (gain) loss on securities into earnings	$0	$0	$943	$3,756

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Current:	'	'	'	'
Federal	$1,677	$0	$4,130	$0
State and Local	1,285	0	2,868	0
Total Current Provision	2,962	0	6,998	0
Deferred:	'	'	'	'
Federal	3,621	0	16,857	0
State and Local	1,218	0	5,628	0
Total Deferred Provision	4,839	0	22,485	0
Total Provision for Income Taxes	7,801	0	29,483	0
Servicer Advances	'	'	'	'
Servicing Assets at Fair Value [Line Items]	'	'	'	'
Change in fair value of investments in servicer advances	$105,800	'	'	'

RECENT_ACTIVITIES_Details_Narr

RECENT ACTIVITIES (Details Narrative) (USD $)

0 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

3 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

1 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

Sep. 18, 2014

Jul. 08, 2014

Jun. 17, 2014

Jan. 31, 2014

Dec. 17, 2013

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Jul. 08, 2014

13-May-14

12-May-14

Jan. 17, 2014

Oct. 28, 2014

Jul. 31, 2014

Jul. 08, 2014

30-May-14

Sep. 30, 2014

30-May-14

Jul. 01, 2014

Jul. 01, 2014

Sep. 30, 2014

Aug. 25, 2014

Mar. 06, 2014

Jul. 01, 2014

Jul. 01, 2014

Sep. 30, 2014

Jul. 27, 2014

Sep. 30, 2014

Jul. 31, 2014

Sep. 30, 2014

Jul. 31, 2014

Jul. 08, 2014

Jul. 08, 2014

Jul. 27, 2014

Oct. 10, 2014

Oct. 09, 2014

Oct. 03, 2014

Oct. 10, 2014

Oct. 09, 2014

Oct. 03, 2014

Oct. 20, 2014

Apr. 01, 2014

Sep. 30, 2014

Apr. 01, 2014

Dec. 31, 2013

Sep. 30, 2013

Oct. 03, 2014

Oct. 03, 2014

Subsequent Event

Subsequent Event

Subsequent Event

Agency RMBS

Agency RMBS

Agency RMBS

Agency RMBS

Agency RMBS

Non-Agency RMBS

Non-Agency RMBS

Non-Agency RMBS

Non-Agency RMBS

Non-Agency RMBS

Servicer Advance Joint Venture

Servicer Advance Joint Venture

Agency RMBS Repurchase Agreements

Agency RMBS Repurchase Agreements

Non-agency RMBS Repurchase Agreements

Non-agency RMBS Repurchase Agreements

Fortress-Managed Funds [Member]

Nationstar [Member]

Nationstar [Member]

Performing Loans

Performing Loans

Performing Loans

Performing Loans

Performing Loans

Performing Loans

London Interbank Offered Rate (LIBOR)

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Consumer Loan Investees

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Repurchase Agreements

Repurchase Agreements

Repurchase Agreements

Repurchase Agreements

Servicer Advance Joint Venture

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Class A and B Asset Backed Notes

Class A and B Asset Backed Notes

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event

Subsequent Event [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repayments of Debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$423,200,000

'

'

'

'

'

'

'

'

'

'

'

Payments to Acquire Equity Method Investments

'

5,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,900,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

250,000,000

'

'

'

'

'

'

Percentage of Investment owned by New Residential

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

45.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

30.00%

30.00%

30.00%

30.00%

'

'

Unpaid principal balance of underlying loans

'

'

'

'

'

99,041,165,000

'

'

'

'

99,041,165,000

'

2,100,000,000

700,000,000

12,800,000,000

8,100,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,200,000,000

'

'

'

'

Percentage of Investment owned by counterparty

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

32.50%

35.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchase of servicer advance investments

'

'

'

'

'

'

'

'

'

'

5,569,238,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

262,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Principal repayments from servicing advance investments

'

'

'

'

'

'

'

'

'

'

5,188,295,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

320,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Notes payable issued for purchase

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,800,000,000

34,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Increase in restricted cash

'

'

'

'

'

'

'

'

'

'

-3,376,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Nationstar payment made for targeted return shortfall

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Face amount of securities purchased

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,300,000,000

'

'

'

1,500,000,000

'

625,000,000

'

980,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchase of real estate securities

'

'

'

'

'

'

'

'

'

'

1,229,580,000

292,980,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

297,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Face amount of securities sold

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

746,900,000

'

'

7,700,000

1,900,000,000

15,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Amortized cost basis of securities sold

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

558,800,000

'

6,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from sale of real estate securities

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

796,400,000

'

6,800,000

'

1,300,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain on sale of real estate securities

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

39,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Repayments of Short-term Debt

'

'

'

'

'

'

'

'

'

'

2,839,051,000

1,283,567,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

200,600,000

'

95,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Face Amount of Instrument with Extended Maturity Date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,500,000,000

'

208,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from Sale of Real Estate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

23,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument, Face Amount

'

'

'

'

'

5,585,600,000

'

'

'

'

5,585,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,510,765,000

[1]

'

214,972,000

[2]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,500,000,000

Asset-Backed Securities, at Carrying Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,600,000,000

Proceeds from Asset Backed Securities

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

337,800,000

'

Loan Investment, Carrying Value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

Gain (Loss) on Sales of Mortgage Backed Securities (MBS)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

73,800,000

'

Debt Instrument, Repurchased Face Amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

125,000,000

Dividend declared per share

$0.35

'

$0.35

$0.50

$0.35

$0.35

'

'

'

$0.35

$1.20

$0.49

'

'

'

'

'

$0.50

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Dividends

'

'

'

'

'

49,500,000

70,600,000

44,300,000

63,300,000

'

164,349,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Borrowings under notes payable

'

'

'

'

'

'

'

'

'

'

5,377,633,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Special cash dividend

'

'

$0.15

'

$0.15

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loan portfolio, amount

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

254,900,000

386,800,000

463,600,000

'

'

'

'

'

'

'

'

Payments to acquire loans

'

'

'

'

'

'

'

'

'

'

1,357,268,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

188,800,000

357,900,000

493,400,000

'

'

'

'

'

'

'

'

'

'

'

Variable Interest Rate Spread

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.88%

'

'

'

'

'

'

'

Debt Instrument, Interest Rate, Increase (Decrease)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.25%

'

'

'

'

'

'

'

Gain (Loss) on Securitization of Financial Assets

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$1,200,000

'

'

'

'

'

'

'

'

'

'

'

[1]

The counterparties of these repurchase agreements are Mizuho ($288.1 million), Morgan Stanley ($78.0 million), Barclays ($644.7 million), Daiwa ($146.5 million) and Jefferies ($353.5 million) and were subject to customary margin call provisions.

[2]

The counterparties of these repurchase agreements are Barclays ($8.2 million), Credit Suisse ($49.6 million), Royal Bank of Scotland ($102.3 million), Royal Bank of Canada ($11.7 million), Bank of America ($1.9 million), Goldman Sachs ($27.2 million) and UBS ($14.0 million) and were subject to customary margin call provisions. All of the Non-Agency repurchase agreements have LIBOR-based floating interest rates.