Rithm Capital (RITM) 10-Q 3 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 28, 2016
Document And Entity Information
Entity Registrant Name	New Residential Investment Corp.
Entity Central Index Key	1,556,593
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding (in shares)		250,773,117
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Investments in:
Excess mortgage servicing rights, at fair value		$ 1,404,052	$ 1,581,517
Excess mortgage servicing rights, equity method investees, at fair value		195,904	217,221
Servicer advances, at fair value	[1]	6,043,369	7,426,794
Real estate securities, available-for-sale		4,991,242	2,501,881
Residential mortgage loans, held-for-investment		0	330,178
Residential mortgage loans, held-for-sale		705,481	776,681
Real estate owned		60,459	50,574
Consumer loans, held-for-investment	[1]	1,821,979	0
Cash and cash equivalents	[1]	388,674	249,936
Restricted cash		153,127	94,702
Trades receivable		1,530,726	1,538,481
Deferred tax asset, net		172,510	185,311
Other assets		236,859	239,446
Total assets		17,704,382	15,192,722
Liabilities
Repurchase agreements		4,929,944	4,043,054
Notes and bonds payable	[1]	7,833,209	7,249,568
Trades payable		1,296,296	725,672
Due to affiliates		18,610	23,785
Dividends payable		115,356	106,017
Accrued expenses and other liabilities		93,456	58,046
Total liabilities		14,286,871	12,206,142
Commitments and Contingencies
Equity
Common Stock, $0.01 par value, 2,000,000,000 shares authorized, 250,773,117 and 230,471,202 issued and outstanding at September 30, 2016 and December 31, 2015, respectively		2,507	2,304
Additional paid-in capital		2,919,765	2,640,893
Retained earnings		100,697	148,800
Accumulated other comprehensive income (loss)		105,381	3,936
Total New Residential stockholders’ equity		3,128,350	2,795,933
Noncontrolling interests in equity of consolidated subsidiaries		289,161	190,647
Total Equity		3,417,511	2,986,580
Total Liabilities And Stockholders Equity		$ 17,704,382	$ 15,192,722
[1]	New Residential’s Condensed Consolidated Balance Sheets include the assets and liabilities of certain consolidated VIEs, the Buyer (Note 6) and the Consumer Loan SPVs (Note 9), which primarily hold investments in servicer advances and consumer loans, respectively, financed with notes and bonds payable. The Buyer’s balance sheet is included in Note 6 and the Consumer Loan SPVs’ balance sheet is included in Note 9. The creditors of the Buyer and the Consumer Loan SPVs do not have recourse to the general credit of New Residential and the assets of the Buyer and the Consumer Loan SPVs are not directly available to satisfy New Residential’s obligations.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	250,773,117	230,471,202
Common stock, shares outstanding (in shares)	250,773,117	230,471,202

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Interest income	$ 282,388	$ 182,341	$ 749,901	$ 444,891
Interest expense	96,488	77,558	278,401	193,408
Net interest income (expense)	185,900	104,783	471,500	251,483
Impairment
Other-than-temporary impairment (OTTI) on securities	1,765	1,574	7,838	3,294
Valuation and loss provision on loans and real estate owned	18,275	(3,341)	41,845	2,408
Total Impairment Charges	20,040	(1,767)	49,683	5,702
Net interest income after impairment	165,860	106,550	421,817	245,781
Other Income
Change in fair value of investments in excess mortgage servicing rights	(17,060)	1,131	(24,397)	(274)
Change in fair value of investments in excess mortgage servicing rights, equity method investees	6,261	8,427	8,608	16,443
Change in fair value of investments in servicer advances	21,606	(18,738)	4,328	(1,845)
Gain on consumer loans investment	0	14,385	9,943	33,342
Gain on remeasurement of consumer loans investment	0	0	71,250	0
Gain (loss) on settlement of investments, net	(17,079)	(21,482)	(44,290)	(5,514)
Other income (loss), net	32,973	(1,548)	13,458	(10,032)
Other Income	26,701	(17,825)	38,900	32,120
Operating Expenses
General and administrative expenses	8,777	19,563	28,082	49,362
Management fee to affiliate	10,536	9,860	30,552	23,357
Incentive compensation to affiliate	7,075	1,811	13,200	7,895
Loan servicing expense	14,187	1,668	30,037	9,510
Total Operating Expenses	40,575	32,902	101,871	90,124
Income (Loss) Before Income Taxes	151,986	55,823	358,846	187,777
Income tax expense (benefit)	20,900	(5,932)	18,195	4,947
Net Income (Loss)	131,086	61,755	340,651	182,830
Noncontrolling Interests in Income of Consolidated Subsidiaries	32,178	7,193	61,355	17,174
Net Income Attributable to Common Stockholders	$ 98,908	$ 54,562	$ 279,296	$ 165,656
Net Income Per Share of Common Stock
Basic (in dollars per share)	$ 0.41	$ 0.24	$ 1.19	$ 0.87
Diluted (in dollars per share)	$ 0.41	$ 0.24	$ 1.19	$ 0.85
Weighted Average Number of Shares of Common Stock Outstanding
Basic (in shares)	240,601,691	230,455,568	233,875,067	191,259,587
Diluted (in shares)	241,099,381	231,215,235	234,184,611	194,081,345
Dividend declared per Share of Common Stock (in dollars per share)	$ 0.46	$ 0.46	$ 1.38	$ 1.29

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Comprehensive income (loss), net of tax
Net income	$ 131,086	$ 61,755	$ 340,651	$ 182,830
Other comprehensive income (loss)
Net unrealized gain (loss) on securities	52,138	17,360	108,679	11,328
Reclassification of net realized (gain) loss on securities into earnings	2,444	(22,880)	(7,234)	(27,936)
Total other comprehensive income (loss)	54,582	(5,520)	101,445	(16,608)
Total comprehensive income	185,668	56,235	442,096	166,222
Comprehensive income attributable to noncontrolling interests	32,178	7,193	61,355	17,174
Comprehensive income attributable to common stockholders	$ 153,490	$ 49,042	$ 380,741	$ 149,048

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2016 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total New Residential Stockholders’ Equity [Member]	Noncontrolling Interests in Equity of Consolidated Subsidiaries [Member]
Equity - December 31, 2015 (in shares) at Dec. 31, 2015		230,471,202
Equity - December 31, 2015 at Dec. 31, 2015	$ 2,986,580	$ 2,304	$ 2,640,893	$ 148,800	$ 3,936	$ 2,795,933	$ 190,647
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared	(327,399)			(327,399)		(327,399)
SpringCastle Transaction (Note 1)	110,438						110,438
Capital contributions	0						0
Capital distributions	(73,279)						(73,279)
Issuance of common stock (in shares)		20,000,000
Issuance of common stock	$ 278,775	$ 200	278,575			278,775
Options exercised (in shares)	1,100,497	280,111
Option exercise		$ 3	(3)
Director share grant (in shares)		21,804
Director share grant	$ 300		300			300
Comprehensive income (loss)
Net income	340,651			279,296		279,296	61,355
Net unrealized gain (loss) on securities	108,679				108,679	108,679
Reclassification of net realized (gain) loss on securities into earnings	(7,234)				(7,234)	(7,234)
Total comprehensive income	442,096					380,741	61,355
Equity - September 30, 2016 (in shares) at Sep. 30, 2016		250,773,117
Equity - September 30, 2016 at Sep. 30, 2016	$ 3,417,511	$ 2,507	$ 2,919,765	$ 100,697	$ 105,381	$ 3,128,350	$ 289,161

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016		Sep. 30, 2015
Cash Flows From Operating Activities
Net income	$ 340,651		$ 182,830
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Change in fair value of investments in excess mortgage servicing rights	24,397		274
Change in fair value of investments in excess mortgage servicing rights, equity method investees	(8,608)		(16,443)
Change in fair value of investments in servicer advances	(4,328)		1,845
(Gain) / loss on remeasurement of consumer loans investment	(71,250)		0
(Gain) / loss on settlement of investments (net)	44,290		5,514
Unrealized (gain) / loss on derivative instruments	8,504		17,425
Unrealized (gain) / loss on other ABS	226		1,073
(Gain) / loss on transfer of loans to REO	(14,660)		(1,075)
(Gain) / loss on transfer of loans to other assets	(3,021)		(143)
(Gain) / loss on Excess MSR recapture agreements	(2,188)		(2,247)
Accretion and other amortization	(514,522)		(360,467)
Other-than-temporary impairment	7,838		3,294
Valuation and loss provision on loans and real estate owned	41,845		2,408
Non-cash directors’ compensation	300		300
Deferred tax provision	12,998		5,885
Changes in:
Restricted cash	16,179		(63,041)
Other assets	191,939		177,737
Due to affiliates	(5,175)		(45,026)
Accrued expenses and other liabilities	12,136		19,055
Other operating cash flows:
Interest received from excess mortgage servicing rights	119,386		84,518
Interest received from servicer advance investments	132,758		124,934
Interest received from Non-Agency RMBS	73,108		31,715
Interest payments from residential mortgage loans, held-for-investment	2,815		0
Interest payments from PCD consumer loans, held-for-investment	34,265		0
Purchases of residential mortgage loans, held-for-sale	(788,824)		(611,160)
Proceeds from sales of purchased residential mortgage loans, held-for-sale	802,110		722,961
Principal repayments from purchased residential mortgage loans, held-for-sale	52,805		48,069
Net cash provided by (used in) operating activities	523,999		362,111
Cash Flows From Investing Activities
Acquisition of investments in excess mortgage servicing rights	(2,022)		(131,488)
Acquisition of HLSS, net of cash acquired	0		(959,616)
SpringCastle Transaction (Note 1), net of cash acquired	(49,943)		0
Purchase of servicer advance investments	(11,588,537)		(10,647,912)
Purchase of Agency RMBS	(4,763,374)		(3,040,422)
Purchase of Non-Agency RMBS	(2,154,890)		(763,095)
Purchase of residential mortgage loans	(319)		(664)
Purchase of derivatives	(4,457)		(4,370)
Purchase of real estate owned and other assets	(10,936)		(2,784)
Purchase of consumer loans	(92,069)		0
Draws on revolving consumer loans	(33,137)		0
Payments for settlement of derivatives	(73,570)		(61,212)
Return of investments in excess mortgage servicing rights	142,718		112,648
Return of investments in excess mortgage servicing rights, equity method investees	11,900		3,867
Principal repayments from servicer advance investments	13,101,409		11,646,489
Principal repayments from Agency RMBS	67,738		110,863
Principal repayments from Non-Agency RMBS	364,310		54,979
Principal repayments from residential mortgage loans	31,092		15,944
Proceeds from sale of residential mortgage loans	0		649,712
Principal repayments from consumer loans	199,022		0
Proceeds from sale of Agency RMBS	4,774,116		2,435,168
Proceeds from sale of Non-Agency RMBS	95,683		389,719
Proceeds from settlement of derivatives	9,642		22,841
Proceeds from sale of real estate owned	51,941		52,139
Net cash provided by (used in) investing activities	76,317		(117,194)
Cash Flows From Financing Activities
Repayments of repurchase agreements	(21,179,260)		(5,644,864)
Margin deposits under repurchase agreements and derivatives	(274,645)		(441,696)
Repayments of notes and bonds payable	(6,786,408)		(5,445,381)
Payment of deferred financing fees	(19,922)		(38,486)
Common stock dividends paid	(318,060)		(197,011)
Borrowings under repurchase agreements	22,065,713		6,184,472
Return of margin deposits under repurchase agreements and derivatives	276,634		439,875
Borrowings under notes and bonds payable	5,568,875		4,211,548
Issuance of common stock	279,600		882,166
Costs related to issuance of common stock	(825)		(3,580)
Noncontrolling interest in equity of consolidated subsidiaries - contributions	0		0
Noncontrolling interest in equity of consolidated subsidiaries - distributions	(73,279)		(56,633)
Net cash provided by (used in) financing activities	(461,577)		(109,590)
Net Increase (Decrease) in Cash and Cash Equivalents	138,738		135,327
Cash and Cash Equivalents, Beginning of Period	249,936	[1]	212,985
Cash and Cash Equivalents, End of Period	388,674	[1]	348,312
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest	265,114		175,615
Cash paid during the period for income taxes	943		535
Supplemental Schedule of Non-Cash Investing and Financing Activities
Dividends declared but not paid	115,356		106,011
Transfer from residential mortgage loans to real estate owned and other assets	218,467		28,836
Non-cash distributions from Consumer Loan Companies	25		585
Portion of HLSS Acquisition paid in common stock	0		434,092
Non-cash contingent consideration	0		50,000
Real estate securities retained from loan securitizations	122,585		14,990
Remeasurement of Consumer Loan Companies noncontrolling interest	110,438		0
Transfer of loans from held-for-investment to held-for sale	316,199		0
Agency RMBS [Member]
Supplemental Schedule of Non-Cash Investing and Financing Activities
Purchase of Agency and Non-Agency RMBS, settled after quarter end	1,296,296		1,059,232
Sale of investments, primarily Agency RMBS, settled after quarter end	1,530,726		2,031,425
Accounting Standards Update 2014-11 [Member]
Supplemental Schedule of Non-Cash Investing and Financing Activities
Reclassification resulting from the application of ASU No. 2014-11	0		85,955
Excess MSRs Investees [Member]
Other operating cash flows:
Distributions of earnings from excess mortgage servicing rights, equity method investees	$ 18,025		$ 31,876
[1]	New Residential’s Condensed Consolidated Balance Sheets include the assets and liabilities of certain consolidated VIEs, the Buyer (Note 6) and the Consumer Loan SPVs (Note 9), which primarily hold investments in servicer advances and consumer loans, respectively, financed with notes and bonds payable. The Buyer’s balance sheet is included in Note 6 and the Consumer Loan SPVs’ balance sheet is included in Note 9. The creditors of the Buyer and the Consumer Loan SPVs do not have recourse to the general credit of New Residential and the assets of the Buyer and the Consumer Loan SPVs are not directly available to satisfy New Residential’s obligations.

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION 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. Following the spin-off, New Residential is an independent publicly traded real estate investment trust (“REIT”) primarily focused on investing in residential mortgage related assets. New Residential is listed on the New York Stock Exchange (“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”), pursuant to which the Manager provides a management team and other professionals who are responsible for implementing New Residential’s business strategy, 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, investment funds that indirectly own a majority of the outstanding interests in Nationstar Mortgage LLC (“Nationstar”), a leading residential mortgage servicer, and investment funds that own a majority of the outstanding common stock of OneMain Holdings, Inc. (formerly known as Springleaf Holdings, Inc.) (together with its subsidiaries, “OneMain”), former managing member of the Consumer Loan Companies (Note 9). As of September 30, 2016 , New Residential conducted its business through the following segments: (i) investments in excess mortgage servicing rights (“Excess MSRs”), (ii) investments in servicer advances (including the basic fee component of the related mortgage servicing rights (“MSRs”)), (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, 2016 . In addition, Fortress, through its affiliates, held options relating to approximately 11.2 million shares of New Residential’s common stock as of September 30, 2016 . Interim Financial Statements 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 note 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 condensed consolidated financial statements should be read in conjunction with New Residential’s consolidated financial statements for the year ended December 31, 2015 and notes thereto included in New Residential’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”). Capitalized terms used herein, and not otherwise defined, are defined in New Residential’s consolidated financial statements for the year ended December 31, 2015 . Certain prior period amounts have been reclassified to conform to the current period’s presentation. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 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 effect, companies will be required to exercise further judgment and make more estimates prospectively. 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. ASU No. 2014-09 is effective for New Residential in the first quarter of 2018. Early adoption is only permitted after December 31, 2016. Entities have the option of using either a full retrospective or a modified approach to adopt the guidance in ASU No. 2014-09. New Residential is currently evaluating the new guidance to determine the impact it may have on its condensed 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. ASU No. 2014-15 is effective for New Residential for the annual period ending on December 31, 2016. Early adoption was permitted. New Residential is currently evaluating the new guidance to determine the impact that it may have on its condensed consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. The standard: (i) requires that certain equity investments be measured at fair value, and modifies the assessment of impairment for certain other equity investments, (ii) changes certain disclosure requirements related to the fair value of financial instruments measured at amortized cost, (iii) changes certain disclosure requirements related to liabilities measured at fair value, (iv) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset, and (v) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. ASU No. 2016-01 is effective for New Residential in the first quarter of 2018. Early adoption is generally not permitted. An entity should apply ASU No. 2016-01 by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. New Residential is currently evaluating the new guidance to determine the impact it may have on its condensed consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments . The standard requires that a financial asset measured at amortized cost basis be presented at the net amount expected to be collected, net of an allowance for all expected (rather than incurred) credit losses. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount. The standard also changes the accounting for purchased credit deteriorated (“PCD”) assets and available-for-sale securities to align with this treatment. ASU No. 2016-13 is effective for New Residential in the first quarter of 2020. Early adoption is permitted beginning in 2019. An entity should apply ASU No. 2016-13 by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. New Residential is currently evaluating the new guidance to determine the impact it may have on its condensed consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments. The standard provides guidance on the treatment of certain transactions within the statement of cash flows. ASU No. 2016-15 is effective for New Residential in the first quarter of 2018. Early adoption is permitted. New Residential adopted ASU No. 2016-15 in the third quarter of 2016 and it did not have an impact on its consolidated financial statements. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740) - Intra-Entity Transfers of Assets Other Than Inventory . The standard requires recognition of the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. ASU No. 2016-16 is effective for New Residential in the first quarter of 2018. Early adoption is permitted as of the beginning of an annual reporting period for which financial statements have not been issued. New Residential does not expect the adoption of ASU No. 2016-16 to have a material impact on its consolidated financial statements. The FASB has recently issued or discussed a number of proposed standards on such topics as financial statement presentation, financial instruments, restricted cash 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. SpringCastle Transaction On March 31, 2016, certain of New Residential’s indirect wholly owned subsidiaries (collectively, the “NRZ SpringCastle Buyers”) entered into a Purchase Agreement (the “SpringCastle Purchase Agreement”) primarily with (i) certain direct or indirect wholly owned subsidiaries of OneMain (the “SpringCastle Sellers”), (ii) BTO Willow Holdings II, L.P. and Blackstone Family Tactical Opportunities Investment Partnership - NQ - ESC L.P. (together, the “Blackstone SpringCastle Buyers,” and the Blackstone SpringCastle Buyers together with the NRZ SpringCastle Buyers, collectively, the “SpringCastle Buyers”). Pursuant to the SpringCastle Purchase Agreement, the SpringCastle Sellers sold their collective 47% limited liability company interests in the Consumer Loan Companies (Note 9) to the SpringCastle Buyers for an aggregate purchase price of $111.6 million (the “SpringCastle Transaction”). Pursuant to the SpringCastle Purchase Agreement, the NRZ SpringCastle Buyers collectively acquired an additional 23.5% limited liability company interest in the Consumer Loan Companies (representing 50% of the limited liability company interests being sold by the SpringCastle Sellers in the SpringCastle Transaction) and the Blackstone SpringCastle Buyers acquired the other 50% of the limited liability company interests being sold in the SpringCastle Transaction. The SpringCastle Buyers collectively paid $100.5 million of the aggregate purchase price to the SpringCastle Sellers on March 31, 2016, with the remaining $11.2 million paid into an escrow account within 120 days following March 31, 2016. The NRZ SpringCastle Buyers’ obligation with respect to purchase price was 50% of the total paid by the SpringCastle Buyers. The escrowed funds are expected to be held in escrow for a period of up to five years following March 31, 2016 and, subject to the terms of the SpringCastle Purchase Agreement and depending on the achievement of certain portfolio performance requirements, paid (in whole or in part) to the SpringCastle Sellers at the end of such five year period. Any portion of the escrowed funds that the SpringCastle Sellers are not entitled to receive at the end of such five year period, based on the failure to achieve certain portfolio performance requirements, will be returned to the SpringCastle Buyers. The SpringCastle Buyers are also entitled (but not required) to use the escrowed funds as a source of recovery for any indemnification payments to which they become entitled pursuant to the SpringCastle Purchase Agreement. The SpringCastle Purchase Agreement includes customary representations, warranties, covenants and indemnities. The SpringCastle Transaction was unanimously approved by a special committee composed entirely of independent directors to which New Residential’s board of directors had delegated full authority to consider, negotiate and determine whether to engage in the SpringCastle Transaction. Following the SpringCastle Transaction, New Residential, through the NRZ SpringCastle Buyers, owns 53.5% of the limited liability company interests in the Consumer Loan Companies and the Blackstone SpringCastle Buyers, collectively with their affiliates, own the remaining 46.5% interests in the Consumer Loan Companies. OneMain will remain as servicer of the loans held by the Consumer Loan Companies and their subsidiaries immediately following the SpringCastle Transaction. In connection with the closing of the SpringCastle Transaction, each NRZ SpringCastle Buyer entered into a Second Amended & Restated Limited Liability Company Agreement (each, a “Second A&R LLC Agreement”) for each of the Consumer Loan Companies in which it acquired limited liability company interests. All of the Second A&R LLC Agreements contain substantially identical terms and conditions and designate the respective NRZ SpringCastle Buyer that is a party thereto as managing member of the applicable Consumer Loan Company. Pursuant to each Second A&R LLC Agreement, the managing member has the exclusive power and authority to manage the business and affairs of the applicable Consumer Loan Company, subject to the rights of the members to approve specified significant actions outside of the ordinary course of business and certain affiliate transactions, and subject to the other terms, conditions and limitations set forth in the Second A&R LLC Agreements. Each Second A&R LLC Agreement contains certain customary restrictions on the members’ ability to transfer their interests in the applicable Consumer Loan Companies. As a result of the SpringCastle Transaction, New Residential obtained a controlling financial interest in the Consumer Loan Companies, which triggered the application of the acquisition model in ASC No. 805, including the fair value recognition of all net assets over which control has been obtained and the remeasurement of any previously held noncontrolling interest. Based on the guidance in ASC No. 805, New Residential has consolidated all of the assets and the related liabilities of the Consumer Loan Companies assuming a gross purchase price of $237.5 million . This gross purchase price is representative of the fair value, measured in accordance with ASC No. 820, of 100% of the net assets of the Consumer Loan Companies, which was used to derive the $111.6 million purchase price for an aggregate 47.0% of the equity ownership acquired by the SpringCastle Buyers. New Residential previously held a 30% equity method investment in the Consumer Loan Companies, which had a basis of zero, and a fair value of $71.3 million based on 30% of the gross purchase price of $237.5 million , immediately prior to the SpringCastle Transaction. Therefore, the remeasurement of New Residential’s previously held equity method investment resulted in a gain of $71.3 million , which was recorded to Gain on Remeasurement of Consumer Loans Investment. New Residential has performed a preliminary allocation of the purchase price to the Consumer Loans Companies’ assets and liabilities, as set forth below. The final allocation of purchase price may differ from the amounts included herein. The preliminary allocation of the total consideration, following reclassifications to conform to New Residential’s presentation, is as follows: Total Consideration ($ in millions) $ 237.5 Assets Consumer loans, held-for-investment $ 1,934.7 Cash and cash equivalents 0.3 Restricted cash 74.6 Other assets 35.9 Total Assets Acquired 2,045.5 Liabilities Notes and bonds payable $ 1,803.2 Accrued expenses and other liabilities 4.8 Total Liabilities Assumed 1,808.0 Net Assets $ 237.5 The acquisition of the Consumer Loans Companies resulted in no goodwill because the total consideration transferred was equal to the fair value of the net assets acquired. Unaudited Supplemental Pro Forma Financial Information - The following table presents New Residential’s unaudited pro forma combined Interest Income and Income Before Income Taxes for the three and nine months ended September 30, 2016 and 2015 prepared as if the SpringCastle Transaction had been consummated on January 1, 2015. Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 (unaudited) (unaudited) (unaudited) (unaudited) Pro Forma Interest Income $ 282,388 $ 276,720 $ 836,814 $ 739,490 Income Before Income Taxes 151,986 85,158 319,144 388,041 Noncontrolling Interests in Income of Consolidated Subsidiaries 32,178 27,523 79,944 77,870 The 2016 unaudited supplemental pro forma financial information has been adjusted to exclude, and the 2015 unaudited supplemental pro forma financial information has been adjusted to include, (i) the gain on remeasurement of New Residential’s Consumer Loans investment of $71.3 million and (ii) approximately $1.5 million of acquisition related costs incurred by New Residential in 2016. The unaudited supplemental pro forma financial information does not include any other anticipated benefits of the SpringCastle Transaction and, accordingly, the unaudited supplemental pro forma financial information is not necessarily indicative of either future results of operations or results that might have been achieved had the SpringCastle Transaction occurred on January 1, 2015. New Residential’s Condensed Consolidated Statements of Income include Interest income and Income Before Income Taxes of the Consumer Loan Companies (Note 9) since the March 31, 2016 acquisition of $154.3 million and $60.1 million , respectively. See Note 9 for further information on the Consumer Loan Companies and Note 11 for further information on related financing.

OTHER INCOME, ASSETS AND LIABIL

OTHER INCOME, ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2016
Other Income Assets And Liabilities
OTHER INCOME, ASSETS AND LIABILITIES	OTHER INCOME, ASSETS AND LIABILITIES Other income (loss), net, is comprised of the following: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Unrealized gain (loss) on derivative instruments $ 26,962 $ (9,166 ) $ (8,504 ) $ (17,425 ) Unrealized gain (loss) on other ABS 724 (706 ) (226 ) (1,073 ) Gain (loss) on transfer of loans to REO 4,373 1,272 14,660 1,075 Gain (loss) on transfer of loans to other assets 2,743 314 3,021 143 Gain on Excess MSR recapture agreements 768 669 2,188 2,247 Other income (loss) (2,597 ) 6,069 2,319 5,001 $ 32,973 $ (1,548 ) $ 13,458 $ (10,032 ) Gain (loss) on settlement of investments, net is comprised of the following: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Gain (loss) on sale of real estate securities, net $ (679 ) $ 24,454 $ 15,072 $ 31,230 Gain (loss) on sale of residential mortgage loans, net 8,537 226 9,142 31,808 Gain (loss) on settlement of derivatives (24,839 ) (44,479 ) (70,307 ) (53,300 ) Gain (loss) on liquidated residential mortgage loans (1,331 ) 246 (1,603 ) 492 Gain (loss) on sale of REO 2,207 (1,914 ) 5,193 (9,751 ) Other gains (losses) (974 ) (15 ) (1,787 ) (5,993 ) $ (17,079 ) $ (21,482 ) $ (44,290 ) $ (5,514 ) Other assets and liabilities are comprised of the following: Other Assets Accrued Expenses and Other Liabilities September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Margin receivable, net $ 52,471 $ 54,459 Interest payable $ 17,965 $ 18,268 Other receivables 6,984 5,829 Accounts payable 33,727 18,650 Principal paydown receivable 1,834 795 Derivative liabilities (Note 10) 24,085 13,443 Receivable from government agency 63,204 68,833 Current taxes payable 3,678 1,573 Call rights 414 414 Due to servicers 8,975 — Derivative assets (Note 10) 2,088 2,689 Other liabilities 5,026 6,112 Interest receivable 53,964 36,963 $ 93,456 $ 58,046 Ginnie Mae EBO servicer advance receivable, net 17,924 49,725 Due from servicers 17,788 5,064 Other assets 20,188 14,675 $ 236,859 $ 239,446 As reflected on the Condensed Consolidated Statements of Cash Flows, accretion and other amortization is comprised of the following: Nine Months Ended 2016 2015 Accretion of servicer advance interest income $ 257,877 $ 256,045 Accretion of excess mortgage servicing rights income 106,848 87,874 Accretion of net discount on securities and loans (A) 164,806 35,239 Amortization of deferred financing costs (13,889 ) (18,691 ) Amortization of discount on notes and bonds payable (1,120 ) — $ 514,522 $ 360,467 (A) Includes accretion of the accretable yield on PCD loans.

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2016
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 management fees and incentive compensation related to the Management Agreement and (iii) corporate cash and related interest income. Securities owned by New Residential (Note 7) that are collateralized by servicer advances are included in the Servicer Advances segment. Secured corporate loans effectively collateralized by Excess MSRs are included in the Excess MSRs segment. 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, 2016 Interest income $ 30,617 $ 101,359 $ 58,855 $ 13,947 $ 77,231 $ 379 $ 282,388 Interest expense 4,002 54,802 13,008 6,153 18,523 — 96,488 Net interest income (expense) 26,615 46,557 45,847 7,794 58,708 379 185,900 Impairment — — 1,765 (291 ) 18,566 — 20,040 Other income (loss) (10,052 ) 21,430 1,392 13,931 — — 26,701 Operating expenses 536 1,029 369 4,251 11,976 22,414 40,575 Income (Loss) Before Income Taxes 16,027 66,958 45,105 17,765 28,166 (22,035 ) 151,986 Income tax expense (benefit) — 16,348 — 4,556 — (4 ) 20,900 Net Income (Loss) $ 16,027 $ 50,610 $ 45,105 $ 13,209 $ 28,166 $ (22,031 ) $ 131,086 Noncontrolling interests in income (loss) of consolidated subsidiaries $ — $ 18,853 $ — $ — $ 13,325 $ — $ 32,178 Net income (loss) attributable to common stockholders $ 16,027 $ 31,757 $ 45,105 $ 13,209 $ 14,841 $ (22,031 ) $ 98,908 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, 2016 Interest income $ 106,848 $ 265,119 $ 172,982 $ 47,712 $ 155,541 $ 1,699 $ 749,901 Interest expense 12,117 176,672 31,425 20,447 37,740 — 278,401 Net interest income (expense) 94,731 88,447 141,557 27,265 117,801 1,699 471,500 Impairment — — 7,838 7,309 34,536 — 49,683 Other income (loss) (14,234 ) 9,103 (59,472 ) 22,295 81,193 15 38,900 Operating expenses 1,066 3,076 1,307 11,194 26,194 59,034 101,871 Income (Loss) Before Income Taxes 79,431 94,474 72,940 31,057 138,264 (57,320 ) 358,846 Income tax expense (benefit) — 13,743 — 4,377 75 — 18,195 Net Income (Loss) $ 79,431 $ 80,731 $ 72,940 $ 26,680 $ 138,189 $ (57,320 ) $ 340,651 Noncontrolling interests in income (loss) of consolidated subsidiaries $ — $ 33,400 $ — $ — $ 27,955 $ — $ 61,355 Net income (loss) attributable to common stockholders $ 79,431 $ 47,331 $ 72,940 $ 26,680 $ 110,234 $ (57,320 ) $ 279,296 Servicing Related Assets Residential Securities and Loans Excess MSRs Servicer Advances Real Estate Securities Real Estate Loans Consumer Loans Corporate Total September 30, 2016 Investments $ 1,599,956 $ 6,294,697 $ 4,739,914 $ 765,940 $ 1,821,979 $ — $ 15,222,486 Cash and cash equivalents 5,377 134,000 1,305 3,736 15,022 229,234 388,674 Restricted cash 2,406 90,899 — — 59,822 — 153,127 Other assets 2,557 181,521 1,578,722 108,359 48,533 20,403 1,940,095 Total assets $ 1,610,296 $ 6,701,117 $ 6,319,941 $ 878,035 $ 1,945,356 $ 249,637 $ 17,704,382 Debt $ 268,290 $ 6,210,358 $ 3,924,111 $ 653,197 $ 1,707,197 $ — $ 12,763,153 Other liabilities 1,962 28,616 1,326,013 20,608 5,519 141,000 1,523,718 Total liabilities 270,252 6,238,974 5,250,124 673,805 1,712,716 141,000 14,286,871 Total equity 1,340,044 462,143 1,069,817 204,230 232,640 108,637 3,417,511 Noncontrolling interests in equity of consolidated subsidiaries — 182,094 — — 107,067 — 289,161 Total New Residential stockholders’ equity $ 1,340,044 $ 280,049 $ 1,069,817 $ 204,230 $ 125,573 $ 108,637 $ 3,128,350 Investments in equity method investees $ 195,904 $ — $ — $ — $ — $ — $ 195,904 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, 2015 Interest income $ 38,477 $ 105,135 $ 28,984 $ 8,888 $ — $ 857 $ 182,341 Interest expense 2,936 64,291 5,150 4,651 530 — 77,558 Net interest income (expense) 35,541 40,844 23,834 4,237 (530 ) 857 104,783 Impairment — — 1,574 (3,341 ) — — (1,767 ) Other income (loss) 10,227 (12,554 ) (28,354 ) (1,530 ) 14,386 — (17,825 ) Operating expenses 168 10,341 766 2,845 66 18,716 32,902 Income (Loss) Before Income Taxes 45,600 17,949 (6,860 ) 3,203 13,790 (17,859 ) 55,823 Income tax expense (benefit) — (4,852 ) — (1,405 ) 325 — (5,932 ) Net Income (Loss) $ 45,600 $ 22,801 $ (6,860 ) $ 4,608 $ 13,465 $ (17,859 ) $ 61,755 Noncontrolling interests in income (loss) of consolidated subsidiaries $ — $ 7,193 $ — $ — $ — $ — $ 7,193 Net income (loss) attributable to common stockholders $ 45,600 $ 15,608 $ (6,860 ) $ 4,608 $ 13,465 $ (17,859 ) $ 54,562 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, 2015 Interest income $ 87,874 $ 256,087 $ 66,699 $ 32,408 $ 1 $ 1,822 $ 444,891 Interest expense 8,681 151,377 12,171 15,929 1,054 4,196 193,408 Net interest income (expense) 79,193 104,710 54,528 16,479 (1,053 ) (2,374 ) 251,483 Impairment — — 3,294 2,408 — — 5,702 Other income (loss) 18,415 835 (37,655 ) 20,063 33,342 (2,880 ) 32,120 Operating expenses 517 12,604 769 14,557 177 61,500 90,124 Income (Loss) Before Income Taxes 97,091 92,941 12,810 19,577 32,112 (66,754 ) 187,777 Income tax expense (benefit) — 7,565 — (2,942 ) 324 — 4,947 Net Income (Loss) $ 97,091 $ 85,376 $ 12,810 $ 22,519 $ 31,788 $ (66,754 ) $ 182,830 Noncontrolling interests in income (loss) of consolidated subsidiaries $ — $ 22,332 $ — $ — $ — $ (5,158 ) $ 17,174 Net income (loss) attributable to common stockholders $ 97,091 $ 63,044 $ 12,810 $ 22,519 $ 31,788 $ (61,596 ) $ 165,656

INVESTMENTS IN EXCESS MORTGAGE

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS	9 Months Ended
	Sep. 30, 2016
Transfers and Servicing [Abstract]
INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS	INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS The following table presents activity related to the carrying value of New Residential’s investments in Excess MSRs: Servicer Nationstar SLS (A) Ocwen (B) Total Balance as of December 31, 2015 $ 698,304 $ 5,307 $ 877,906 $ 1,581,517 Purchases — — — — Interest income 47,049 (16 ) 59,815 106,848 Other income 2,188 — — 2,188 Proceeds from repayments (111,999 ) (796 ) (149,309 ) (262,104 ) Change in fair value (9,521 ) (86 ) (14,790 ) (24,397 ) Balance as of September 30, 2016 $ 626,021 $ 4,409 $ 773,622 $ 1,404,052 (A) Specialized Loan Servicing LLC (“SLS”). (B) Ocwen Loan Servicing LLC, a subsidiary of Ocwen Financial Corporation (together with its subsidiaries, including Ocwen Loan Servicing LLC, “Ocwen”), services the loans underlying the Excess MSRs and Servicer Advances acquired from HLSS. On January 4, 2016, New Residential invested the remaining $2.0 million to complete its acquisition of a 66.7% interest in the Excess MSRs on a portfolio of Fannie Mae residential mortgage loans with an aggregate UPB of $17.2 billion . Nationstar agreed to acquire the remaining 33.3% interest in the Excess MSRs. Nationstar, SLS or Ocwen, as applicable, as servicer, performs all servicing and advancing functions, and retains the ancillary income, servicing obligations and liabilities as the servicer of the underlying loans in each portfolio. New Residential has entered into a “recapture agreement” with respect to each of the Excess MSR investments serviced by Nationstar and SLS, including those Excess MSR investments made through investments in joint ventures (Note 5). 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 or SLS, as applicable, of a loan in the original portfolio. New Residential has a similar recapture agreement with Ocwen; however, this agreement allows for Ocwen to retain the Excess MSR on recaptured loans up to a specified threshold and no payments have been made to New Residential under such arrangement to date. 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: September 30, 2016 December 31, 2015 UPB of Underlying Mortgages Interest in Excess MSR Weighted Average Life Years (A) Amortized Cost Basis (B) Carrying Value (C) Carrying Value (C) New Residential (D) Fortress-managed funds Nationstar Agency Original and Recaptured Pools $ 82,159,586 32.5% - 66.7% (53.3%) 0.0% - 40.0% 20.0% - 35.0% 5.9 $ 302,541 $ 333,816 $ 378,083 Recapture Agreements — 32.5% - 66.7% (53.3%) 0.0% - 40.0% 20.0% - 35.0% 11.9 28,417 54,948 59,118 82,159,586 6.4 330,958 388,764 437,201 Non-Agency (E) Nationstar and SLS Serviced: Original and Recaptured Pools $ 82,010,764 33.3% - 80.0% (59.3%) 0.0% - 50.0% 0.0% - 33.3% 5.3 $ 190,184 $ 227,883 $ 250,662 Recapture Agreements — 33.3% - 80.0% (59.3%) 0.0% - 50.0% 0.0% - 33.3% 12.1 12,210 13,783 15,748 Ocwen Serviced Pools 126,120,662 100.0% — % — % 6.4 746,933 773,622 877,906 208,131,426 6.3 949,327 1,015,288 1,144,316 Total $ 290,291,012 6.3 $ 1,280,285 $ 1,404,052 $ 1,581,517 (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) Amounts in parentheses represent weighted averages. (E) New Residential also invested in the related Servicer Advances, including the basic fee component of the related MSR as of September 30, 2016 (Note 6) on $194.2 billion UPB underlying these Excess MSRs. Changes in fair value recorded in other income are comprised of the following: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Original and Recaptured Pools $ (15,395 ) $ 1,485 $ (28,392 ) $ (3,933 ) Recapture Agreements (1,665 ) (354 ) 3,995 3,659 $ (17,060 ) $ 1,131 $ (24,397 ) $ (274 ) In the third quarter of 2016 , a weighted average discount rate of 9.8% 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 September 30, 2016 December 31, 2015 California 26.4 % 26.7 % Florida 8.8 % 8.9 % New York 8.1 % 7.8 % Texas 4.2 % 4.3 % New Jersey 4.1 % 4.1 % Maryland 3.8 % 3.8 % Illinois 3.4 % 3.4 % Virginia 3.1 % 3.1 % Massachusetts 2.7 % 2.7 % Washington 2.6 % 2.7 % Other U.S. 32.8 % 32.5 % 100.0 % 100.0 % 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 MORTGAG12

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES	9 Months Ended
	Sep. 30, 2016
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, 2016 December 31, 2015 Excess MSR assets $ 374,962 $ 421,999 Other assets 16,846 12,442 Other liabilities — — Equity $ 391,808 $ 434,441 New Residential’s investment $ 195,904 $ 217,221 New Residential’s ownership 50.0 % 50.0 % Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Interest income $ 12,205 $ 12,399 $ 24,526 $ 33,316 Other income (loss) 339 4,492 (7,244 ) (348 ) Expenses (22 ) (38 ) (66 ) (82 ) Net income $ 12,522 $ 16,853 $ 17,216 $ 32,886 New Residential’s investments in equity method investees changed during the nine months ended September 30, 2016 as follows: Balance at December 31, 2015 $ 217,221 Contributions to equity method investees — Distributions of earnings from equity method investees (18,025 ) Distributions of capital from equity method investees (11,900 ) Change in fair value of investments in equity method investees 8,608 Balance at September 30, 2016 $ 195,904 The following is a summary of New Residential’s Excess MSR investments made through equity method investees: September 30, 2016 Unpaid Principal Balance Investee Interest in Excess MSR (A) New Residential Interest in Investees Amortized Cost Basis (B) Carrying Value (C) Weighted Average Life (Years) (D) Agency Original and Recaptured Pools $ 63,834,062 66.7 % 50.0 % $ 249,388 $ 314,265 5.7 Recapture Agreements — 66.7 % 50.0 % 33,156 60,697 11.7 Total $ 63,834,062 $ 282,544 $ 374,962 6.4 (A) The remaining interests are held by Nationstar. (B) 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. (C) 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. (D) The weighted average life represents the weighted average expected timing of the receipt of cash flows of each investment. In the third quarter of 2016 , a weighted average discount rate of 9.8% 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 September 30, 2016 December 31, 2015 California 12.8 % 12.9 % Florida 7.3 % 7.4 % Texas 6.1 % 6.1 % New York 6.0 % 5.8 % Georgia 5.7 % 5.7 % New Jersey 4.2 % 4.3 % Illinois 4.1 % 4.0 % Maryland 3.3 % 3.2 % Virginia 3.2 % 3.2 % Pennsylvania 3.2 % 3.1 % Other U.S. 44.1 % 44.3 % 100.0 % 100.0 % 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 ADVANCE

INVESTMENTS IN SERVICER ADVANCES	9 Months Ended
	Sep. 30, 2016
Investments, All Other Investments [Abstract]
INVESTMENTS IN SERVICER ADVANCES	INVESTMENTS IN SERVICER ADVANCES In December 2013, New Residential and third-party co-investors, through a joint venture entity (Advance Purchaser LLC, the “Buyer”) consolidated by New Residential, purchased the outstanding Servicer Advances related to a portfolio of residential mortgage loans that is serviced by Nationstar and is a subset of the same portfolio of loans in which New Residential has invested in a portion of the Excess MSRs (Notes 4 and 5), including the basic fee component of the related MSRs. A taxable wholly owned subsidiary of New Residential is the managing member of the Buyer and owned an approximately 44.5% interest in the Buyer as of September 30, 2016 . As of September 30, 2016 , third-party co-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 third-party co-investors, including New Residential. As of September 30, 2016 , the third-party co-investors and New Residential had previously funded their commitments, however the Buyer may recall $277.5 million and $222.8 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. The Buyer has purchased Servicer Advances from Nationstar, is required to purchase all future Servicer Advances made with respect to this portfolio of loans 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, 2016 was approximately 9.3% 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 also acquired a portion of the call rights related to this portfolio of loans. In December 2014, New Residential agreed to acquire (the “SLS Transaction”) 50% of the Excess MSRs and all of the Servicer Advances and related basic fee portion of the MSR (the “SLS Advance Fee”), and a portion of the call rights related to a portfolio of residential mortgage loans which is serviced by SLS. Fortress-managed funds acquired the other 50% of the Excess MSRs. SLS will continue to service the loans in exchange for a servicing fee of 10.75 basis points times the UPB of the underlying loans and an incentive fee (the “SLS Incentive Fee”) which is based on the ratio of the outstanding Servicer Advances to the UPB of the underlying loans. In April 2015, New Residential acquired Servicer Advances and Excess MSRs in connection with the HLSS Acquisition. Ocwen will continue to service the underlying loans in exchange for a servicing fee of 12% times the servicing fee collections of the underlying loans, which as of September 30, 2016 is equal to 6.0 basis points times the UPB of the underlying loans, and an incentive fee which is reduced by LIBOR plus 2.75% per annum of the amount, if any, of servicer advances outstanding in excess of a defined target. In connection with the HLSS Acquisition, New Residential acquired from Ocwen the call rights related to the mortgage loans underlying the Excess MSRs and Servicer Advances acquired from HLSS. New Residential continues to evaluate the call rights it acquired from Nationstar, SLS and Ocwen, and its ability to exercise such rights and realize the benefits therefrom are subject to a number of risks. The actual UPB of the mortgage loans on which New Residential can successfully exercise call rights and realize the benefits therefrom may differ materially from its initial assumptions. 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: Amortized Cost Basis Carrying Value (A) Weighted Average Discount Rate Weighted Average Yield Weighted Average Life (Years) (B) September 30, 2016 Servicer Advances (C) $ 6,012,315 $ 6,043,369 5.4 % 5.3 % 4.5 As of December 31, 2015 Servicer Advances (C) $ 7,400,068 $ 7,426,794 5.6 % 5.5 % 4.4 (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. (C) Excludes New Residential asset-backed securities collateralized by Servicer Advances, which have aggregate face amounts of $249.0 million and $431.0 million and aggregate carrying values of $250.7 million and $430.3 million as of September 30, 2016 and December 31, 2015 , respectively. See Note 7 for details related to these securities. Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Changes in Fair Value Recorded in Other Income $ 21,606 $ (18,738 ) $ 4,328 $ (1,845 ) The following is additional information regarding the Servicer Advances and related financing: Loan-to-Value (A) Cost of Funds (C) UPB of Underlying Residential Mortgage Loans Outstanding Servicer Advances Servicer Advances to UPB of Underlying Residential Mortgage Loans Face Amount of Notes and Bonds Payable Gross Net (B) Gross Net September 30, 2016 Servicer Advances (D) $ 194,223,701 $ 6,017,968 3.1 % $ 5,907,803 94.5 % 93.3 % 3.5 % 2.8 % December 31, 2015 Servicer Advances (D) $ 220,256,804 $ 7,578,110 3.4 % $ 7,058,094 91.2 % 90.2 % 3.4 % 2.6 % (A) Based on outstanding Servicer Advances, excluding purchased but unsettled Servicer Advances and certain deferred servicing fees (“DSF”) on which New Residential receives financing. If New Residential were to include these DSF in the servicer advance balance, gross and net LTV as of September 30, 2016 would be 89.7% and 88.6% , respectively. Also excludes retained non-agency bonds with a current face amount of $110.1 million from the outstanding Servicer Advances debt. If New Residential were to sell these bonds, gross and net LTV as of September 30, 2016 would be 96.3% and 95.1% , respectively. (B) Ratio of face amount of borrowings to par amount of servicer advance collateral, net of any general reserve. (C) 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. (D) The following types of advances comprise the investments in Servicer Advances: September 30, 2016 December 31, 2015 Principal and interest advances $ 1,651,576 $ 2,229,468 Escrow advances (taxes and insurance advances) 2,786,203 3,687,559 Foreclosure advances 1,580,189 1,661,083 Total $ 6,017,968 $ 7,578,110 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 2016 2015 2016 2015 Interest income, gross of amounts attributable to servicer compensation $ 161,601 $ 221,613 $ 581,231 $ 511,931 Amounts attributable to base servicer compensation (15,276 ) (26,553 ) (68,184 ) (65,111 ) Amounts attributable to incentive servicer compensation (45,197 ) (89,952 ) (255,170 ) (190,775 ) Interest income from investments in Servicer Advances $ 101,128 $ 105,108 $ 257,877 $ 256,045 New Residential has determined that the Buyer is a VIE. The following table presents information on the assets and liabilities related to this consolidated VIE. As of September 30, 2016 December 31, 2015 Assets Servicer advance investments, at fair value $ 1,903,067 $ 2,344,245 Cash and cash equivalents 35,000 40,761 All other assets 22,229 25,092 Total assets (A) $ 1,960,296 $ 2,410,098 Liabilities Notes and bonds payable $ 1,625,956 $ 2,060,347 All other liabilities 6,119 6,111 Total liabilities (A) $ 1,632,075 $ 2,066,458 (A) The creditors of the Buyer do not have recourse to the general credit of New Residential and the assets of the Buyer are not directly available to satisfy New Residential’s obligations. Others’ interests in the equity of the Buyer is computed as follows: September 30, 2016 December 31, 2015 Total Advance Purchaser LLC equity $ 328,221 $ 343,640 Others’ ownership interest 55.5 % 55.5 % Others’ interest in equity of consolidated subsidiary $ 182,094 $ 190,647 Others’ interests in the Buyer’s net income is computed as follows: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Net Advance Purchaser LLC income $ 33,985 $ 12,960 $ 60,207 $ 40,258 Others’ ownership interest as a percent of total (A) 55.5 % 55.5 % 55.5 % 55.5 % Others’ interest in net income of consolidated subsidiaries $ 18,853 $ 7,193 $ 33,400 $ 22,332 (A) As a result, New Residential owned 44.5% and 44.5% of the Buyer, on average during the three months ended September 30, 2016 and 2015 , respectively, and 44.5% and 44.5% of the Buyer, on average during the nine months ended September 30, 2016 and 2015 , respectively.

INVESTMENTS IN REAL ESTATE SECU

INVESTMENTS IN REAL ESTATE SECURITIES	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN REAL ESTATE SECURITIES	INVESTMENTS IN REAL ESTATE SECURITIES Agency residential mortgage backed securities (“RMBS”) are issued by a government sponsored enterprise, such as the Federal National Mortgage Association (“Fannie Mae”) or the Federal Home Loan Mortgage Corporation (“Freddie Mac”). Non-Agency RMBS are issued by either public trusts or private label securitization entities. Activities related to New Residential’s investments in real estate securities were as follows: Nine Months Ended (in millions) Agency Non Agency Purchases Face $ 5,070.3 $ 4,079.9 Purchase Price $ 5,315.9 $ 2,298.4 Sales Face $ 4,530.6 $ 129.8 Amortized Cost $ 4,721.8 $ 121.7 Sale Price $ 4,757.8 $ 100.8 Gain (Loss) on Sale $ 36.0 $ (20.9 ) As of September 30, 2016 , New Residential sold and purchased $1.4 billion and $1.2 billion face amount of Agency RMBS for $1.5 billion and $1.3 billion , respectively, and purchased $27.0 million face amount of Non-Agency RMBS for $20.7 million , which had not yet been settled. These unsettled sales and purchases were recorded on the balance sheet on trade date as Trades Receivable and Trades Payable. New Residential has exercised its call rights with respect to Non-Agency RMBS trusts and purchased performing and non-performing residential mortgage loans and REO contained in such trusts prior to their termination. In certain cases, New Residential sold portions of the purchased loans through securitizations, and retained bonds issued by such securitizations. In addition, New Residential received par on the securities issued by the called trusts which it owned prior to such trusts’ termination. Refer to Note 8 for further details on these transactions. The following is a summary of New Residential’s real estate securities, 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 and except for securities which New Residential elected to carry at fair value and record changes to valuation through the income statement. September 30, 2016 December 31, 2015 Gross Unrealized Weighted Average Asset Type Outstanding Face Amount Amortized Cost Basis Gains Losses Carrying Value (A) Number of Securities Rating (B) Coupon (C) Yield Life (Years) (D) Principal Subordination (E) Carrying Value Agency RMBS (F) (G) $ 1,356,580 $ 1,437,777 $ 337 $ (3,806 ) $ 1,434,308 76 AAA 3.42 % 2.79 % 5.6 N/A $ 917,598 Non-Agency RMBS (H) (I) 6,671,272 3,446,822 122,171 (12,059 ) 3,556,934 471 CCC- 1.76 % 5.46 % 7.0 10.8 % 1,584,283 Total/ Weighted Average $ 8,027,852 $ 4,884,599 $ 122,508 $ (15,865 ) $ 4,991,242 547 CCC+ 2.21 % 4.68 % 6.6 $ 2,501,881 (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 187 bonds with a carrying value of $566.9 million which either have never been rated or for which rating information is no longer provided. 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) Excludes residual bonds, and certain other Non-Agency bonds, with a carrying value of $243.5 million and $0.0 million , respectively, for which no coupon payment is expected. (D) The weighted average life is based on the timing of expected principal reduction on the assets. (E) Percentage of the amortized cost basis of securities that is subordinate to New Residential’s investments, excluding interest-only bonds and servicer advance bonds. (F) Includes securities issued or guaranteed by U.S. Government agencies such as Fannie Mae or Freddie Mac. (G) The total outstanding face amount was $1.2 billion for fixed rate securities and $151.9 million for floating rate securities as of September 30, 2016 . (H) The total outstanding face amount was $1.1 billion (including $0.3 billion of residual and interest-only notional amount) for fixed rate securities and $5.6 billion (including $2.0 billion of residual and interest-only notional amount) for floating rate securities as of September 30, 2016 . (I) Includes other ABS consisting primarily of (i) interest-only securities which New Residential elected to carry at fair value and record changes to valuation through the income statement and (ii) bonds backed by servicer advances. Gross Unrealized Weighted Average Asset Type Outstanding Face Amount Amortized Cost Basis Gains Losses Carrying Value Number of Securities Rating Coupon Yield Life (Years) Principal Subordination Other ABS $ 1,975,404 $ 110,267 $ 6,048 $ (4,927 ) $ 111,388 25 AA+ 1.91 % 5.57 % 2.9 N/A Servicer Advance Bonds $ 249,000 $ 248,696 $ 2,025 $ — $ 250,721 3 AAA 2.81 % 2.21 % 0.1 N/A Unrealized losses that are considered other-than-temporary are recognized currently in earnings. During the nine months ended September 30, 2016 , New Residential recorded OTTI charges of $7.8 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 its 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, 2016 . Amortized Cost Basis Weighted Average Securities in an Unrealized Loss Position Outstanding Face Amount Before Impairment Other-Than- Temporary Impairment (A) After Impairment Gross Unrealized Losses Carrying Value Number of Securities Rating (B) Coupon Yield Life (Years) Less than 12 Months $ 2,905,125 $ 1,723,246 $ (804 ) $ 1,722,442 $ (11,824 ) $ 1,710,618 204 B+ 2.51 % 3.99 % 6.5 12 or More Months 291,088 229,368 (961 ) 228,407 (4,041 ) 224,366 36 B+ 2.30 % 2.99 % 5.2 Total/Weighted Average $ 3,196,213 $ 1,952,614 $ (1,765 ) $ 1,950,849 $ (15,865 ) $ 1,934,984 240 B+ 2.48 % 3.87 % 6.4 (A) This amount represents OTTI recorded on securities that are in an unrealized loss position as of September 30, 2016 . (B) The weighted average rating of securities in an unrealized loss position for less than 12 months excludes the rating of 84 bonds which either have never been rated or for which rating information is no longer provided. The weighted average rating of securities in an unrealized loss position for 12 or more months excludes the rating of 6 bonds which either have never been rated or for which rating information is no longer provided. 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, 2016 Gross 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 required to sell (D) — — — N/A Securities New Residential has no intent to sell and is not more likely than not to be required to sell: Credit impaired securities 365,403 367,904 (1,765 ) (2,501 ) Non-credit impaired securities 1,569,581 1,582,945 — (13,364 ) Total debt securities in an unrealized loss position $ 1,934,984 $ 1,950,849 $ (1,765 ) $ (15,865 ) (A) This amount is required to be recorded as OTTI through earnings. In measuring the portion of credit losses, New Residential 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 New Residential’s expectations of prepayment rates, 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 no t have unrealized losses reflected in other comprehensive income as of September 30, 2016 . (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, 2016 Beginning balance of credit losses on debt securities for which a portion of an OTTI was recognized in other comprehensive income $ 6,240 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 2,505 Additions for credit losses on securities for which an OTTI was not previously recognized 5,333 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 comprehensive income at the current measurement date — Reduction for securities sold during the period (997 ) Ending balance of credit losses on debt securities for which a portion of an OTTI was recognized in other comprehensive income $ 13,081 The table below summarizes the geographic distribution of the collateral securing New Residential’s Non-Agency RMBS: September 30, 2016 December 31, 2015 Geographic Location (A) Outstanding Face Amount Percentage of Total Outstanding Outstanding Face Amount Percentage of Total Outstanding Western U.S. $ 2,329,116 36.3 % $ 1,097,609 35.3 % Southeastern U.S. 1,496,049 23.2 % 758,167 24.4 % Northeastern U.S. 1,318,153 20.5 % 583,366 18.8 % Midwestern U.S. 716,411 11.2 % 335,406 10.8 % Southwestern U.S. 500,795 7.8 % 309,236 10.0 % Other (B) 61,748 1.0 % 19,189 0.7 % $ 6,422,272 100.0 % $ 3,102,973 100.0 % (A) Excludes $249.0 million face amount of bonds backed by servicer advances. (B) 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, 2016 , excluding residual and interest-only securities, the face amount of these real estate securities was $2,121.3 million , with total expected cash flows of $2,131.5 million and a fair value of $1,329.0 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, excluding residual and interest-only securities: Outstanding Face Amount Carrying Value September 30, 2016 $ 2,727,475 $ 1,754,467 December 31, 2015 873,763 504,659 The following is a summary of the changes in accretable yield for these securities: Nine Months Ended September 30, 2016 Balance at December 31, 2015 $ 316,521 Additions 802,442 Accretion (87,535 ) Reclassifications from (to) non-accretable difference 44,905 Disposals (1,129 ) Balance at September 30, 2016 $ 1,075,204

INVESTMENTS IN RESIDENTIAL MORT

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS	INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS Loans are accounted for based on New Residential’s strategy for the loan, and on whether the loan was credit-impaired at the date of acquisition. New Residential accounts for loans based on the following categories: • Loans Held-for-Investment: ◦ Reverse Mortgage Loans ◦ Performing Loans ◦ Purchased Credit Deteriorated (“PCD”) Loans • Loans Held-for-Sale (“HFS”) • Real Estate Owned (“REO”) The following table presents certain information regarding New Residential’s residential mortgage loans outstanding by loan type, excluding REO: September 30, 2016 December 31, 2015 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) Carrying Value Loan Type Reverse Mortgage Loans (E)(F) $ — $ — — — % — — % — % — % N/A $ 19,560 Performing Loans (G) (H) — — — — % — — % — % — % — 19,964 Purchased Credit Deteriorated Loans — — — — % — — % — % — % — 290,654 Total Residential Mortgage Loans, held-for-investment $ — $ — — — % — — % — % — % — $ 330,178 Reverse Mortgage Loans (E)(F) $ 23,878 $ 11,836 77 7.3 % 4.5 15.7 % 134.2 % 71.8 % N/A $ — Performing Loans (G) (H) (J) 103,234 107,167 1,750 4.1 % 4.2 4.6 % 75.2 % 10.4 % 610 277,084 Non-performing Loans (I) (J) 800,411 586,478 4,280 7.1 % 2.8 17.8 % 102.8 % 79.8 % 579 499,597 Total Residential Mortgage Loans, held-for-sale $ 927,523 $ 705,481 6,107 6.7 % 3.0 16.2 % 100.6 % 71.9 % 583 $ 776,681 (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. (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% participation interest that New Residential holds in a portfolio of reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.4 million . Approximately 66% of these loans have reached a termination event. As a result of the termination event, each such loan has matured and the borrower can no longer make draws on these loans. (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 where New Residential expects to collect all contractually required principal and interest payments. Presented net of unamortized premiums of $4.8 million . (H) Performing loans are generally placed on nonaccrual status when principal or interest is 120 days or more past due. (I) Includes loans with evidence of credit deterioration since origination where it is probable that New Residential will not collect all contractually required principal and interest payments. As of September 30, 2016 , New Residential has placed all of these loans on nonaccrual status, except as described in (J) below. (J) Includes $56.5 million and $99.2 million UPB of Ginnie Mae EBO performing and non-performing loans, respectively, on accrual status because contractual cash flows are guaranteed by the FHA. 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 60 days past due provide an early warning of borrowers who may be experiencing financial difficulties. 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 residential mortgage loans: Percentage of Total Outstanding Unpaid Principal Amount as of State Concentration September 30, 2016 December 31, 2015 New York 17.0 % 14.5 % New Jersey 10.4 % 13.1 % Florida 9.9 % 10.7 % California 8.5 % 12.3 % Texas 6.7 % 3.3 % Illinois 3.9 % 4.3 % Maryland 4.1 % 3.5 % Massachusetts 3.7 % 3.3 % Pennsylvania 3.1 % 2.8 % Washington 3.0 % 3.2 % Other U.S. 29.7 % 29.0 % 100.0 % 100.0 % New Residential has exercised its call rights with respect to the following Non-Agency RMBS trusts and purchased performing and non-performing residential mortgage loans and REO assets contained in such trusts prior to their termination. In certain cases, New Residential sold portions of the purchased loans through securitizations, and retained bonds issued by such securitizations. In addition, New Residential received par on the securities issued by the called trusts which it owned prior to such trusts’ termination. The following table summarizes these transactions which occurred in 2016 (dollars in millions). Securities Owned Prior Assets Acquired Loans Sold (C) Retained Bonds Retained Assets (C) Date of Call (A) Number of Trusts Called Face Amount Amortized Cost Basis Loan UPB Loan Price (B) REO & Other Price (B) UPB Gain (Loss) Basis Type Loan UPB Loan Price REO & Other Price December 23, 2015 14 $ 61.4 $ 48.0 $ 309.1 $ 315.1 $ 3.1 $ 261.3 $ 2.2 $ 36.6 Various $ 35.8 $ 26.6 $ 2.9 March 25, 2016 13 58.4 41.0 167.2 173.3 3.1 N/A (C) N/A (C) N/A (C) N/A (C) 65.0 61.8 3.4 May 25, 2016 12 60.0 44.0 290.6 298.7 0.6 306.9 (3.5 ) 40.0 Various 85.9 78.2 1.1 August 25, 2016 11 6.2 1.4 312.3 319.2 1.7 308.0 8.1 45.7 Various 45.6 41.1 2.3 (A) Any related securitization may occur on the same or a subsequent date, depending on market conditions and other factors. Except as otherwise noted in (C) below, there was one securitization associated with each call. (B) Price includes par amount paid for all underlying mortgage loans of the trusts, plus the basis of the exercised call rights, plus advances and costs incurred (including MSR Fund Payments, as defined in Note 15) in exercising such call rights. (C) Loans were sold through a securitization which was treated as a sale for accounting purposes. Retained assets are reflected as of the date of the relevant securitization. The securitization that occurred in March 2016 primarily included loans from the December 23, 2015 call, but also included previously acquired loans. The retained assets disclosed for the December 23, 2015 call are net of the related loans sold in the March 2016 securitization. The securitization that occurred in May 2016 primarily included loans from the March 25, 2016 and May 25, 2016 calls. The retained assets disclosed for the March 25, 2016 call are net of the related loans sold in the May 2016 securitization. The securitization that occurred in September 2016 primarily included loans from the August 25, 2016 call, but also included $42.2 million of previously acquired loans. Loans Held-for-Investment (Non-PCD) Activities related to the carrying value of residential mortgage loans held-for-investment were as follows: Reverse Mortgage Loans Performing Loans Balance at December 31, 2015 $ 19,560 $ 19,964 Purchases/additional fundings 319 — Proceeds from repayments (1,352 ) (811 ) Accretion of loan discount (premium) and other amortization (A) 2,002 123 Provision for loan losses (73 ) (4 ) Transfer of loans to other assets (B) (4,203 ) — Sales (1,795 ) — Transfer of loans to held-for-sale (C) (14,458 ) (19,272 ) Balance at September 30, 2016 $ — $ — (A) Includes accelerated accretion of discount on loans paid in full and on loans transferred to other assets. (B) Represents loans for which foreclosure has been completed during the nine months ended September 30, 2016 and for which New Residential has made, or intends to make, a claim with the governmental agency that has guaranteed the loans that are now recognized as claims receivable in Other Assets (Note 2). (C) Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff. Activities related to the valuation and loss provision on reverse mortgage loans and allowance for loan losses on performing loans held-for-investment were as follows: Reverse Mortgage Loans Performing Loans Balance at December 31, 2015 $ 1,553 $ 119 Provision for loan losses (A) 73 4 Charge-offs (B) — — Sales (171 ) — Transfer of loans to held-for-sale (C) (1,455 ) (123 ) Balance at September 30, 2016 $ — $ — (A) 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. (B) Loans, other than PCD 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. (C) Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff. Purchased Credit Deteriorated Loans New Residential determined at acquisition that the PCD loans acquired would be aggregated into pools based on common risk characteristics (FICO score, delinquency status, collateral type, loan-to-value ratio). 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, including consideration of involuntary prepayments. Activities related to the carrying value of PCD loans held-for-investment were as follows: Balance at December 31, 2015 $ 290,654 Purchases/additional fundings — Sales — Proceeds from repayments (8,897 ) Accretion of loan discount and other amortization 8,295 Transfer of loans to real estate owned (7,583 ) Transfer of loans to held-for-sale (282,469 ) Balance at September 30, 2016 $ — New Residential did not acquire any PCD loans during the nine months ended September 30, 2016 . 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, 2016 $ — $ — December 31, 2015 $ 450,229 $ 290,654 The following is a summary of the changes in accretable yield for these loans: Balance at December 31, 2015 $ 71,063 Additions — Accretion (8,876 ) Reclassifications from non-accretable difference (A) 29,569 Disposals (B) (2,680 ) Transfer of loans to held-for-sale (C) (89,076 ) Balance at September 30, 2016 $ — (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 PCD loan pool at its carrying amount. (C) Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff. Loans Held-for-Sale Activities related to the carrying value of loans held-for-sale were as follows: For the Loans Held-for-Sale Balance at December 31, 2015 $ 776,681 Purchases (A) 788,824 Transfer of loans from held-for-investment (B) 316,199 Sales (915,361 ) Transfer of loans to other assets (C) (148,243 ) Transfer of loans to real estate owned (39,558 ) Proceeds from repayments (75,329 ) Valuation (provision) reversal on loans (D) 2,268 Balance at September 30, 2016 $ 705,481 (A) Represents loans acquired with the intent to sell. (B) Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff. (C) Represents loans for which foreclosure has been completed during the nine months ended September 30, 2016 and for which New Residential has made, or intends to make, a claim with the governmental agency that has guaranteed the loans that are now recognized as claims receivable in Other Assets (Note 2). (D) Represents the fair value adjustments to loans upon transfer to held-for-sale and provision recorded on certain purchased held-for-sale loans, including $2.6 million and $3.6 million of provision related to the call transactions executed on March 25, 2016 and May 25, 2016 , respectively. 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. Real Estate Owned Balance at December 31, 2015 $ 50,574 Purchases 8,123 Transfer of loans to real estate owned 62,057 Sales (46,748 ) Valuation provision on REO (13,547 ) Balance at September 30, 2016 $ 60,459 As of September 30, 2016 , New Residential had non-performing residential mortgage loans that were in the process of foreclosure with an unpaid principal balance of $368.2 million . In addition, New Residential has recognized $63.2 million in unpaid claims receivable from FHA on Ginnie Mae early buy-out (“EBO”) loans and reverse mortgage loans for which foreclosure has been completed during the nine months ended September 30, 2016 and for which New Residential has made, or intends to make, a claim.

INVESTMENTS IN CONSUMER LOANS

INVESTMENTS IN CONSUMER LOANS	9 Months Ended
	Sep. 30, 2016
Investments In Consumer Loans Equity Method Investees [Abstract]
INVESTMENTS IN CONSUMER LOANS	INVESTMENTS IN CONSUMER LOANS In April 2013, New Residential completed, through newly formed limited liability companies (together, the “Consumer Loan Companies”), a co-investment in a portfolio of consumer loans. The portfolio included 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 acquired 30% membership interests in each of the Consumer Loan Companies. Of the remaining 70% of the membership interests, OneMain acquired 47% and funds managed by Blackstone Tactical Opportunities Advisors L.L.C. acquired 23% . OneMain acted as the managing member of the Consumer Loan Companies. The Consumer Loan Companies initially financed approximately 73% of the original purchase price with asset-backed notes. In September 2013, the Consumer Loan Companies issued and sold additional asset-backed notes that were subordinate to the 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, OneMain became the servicer of the loans and provides all servicing and advancing functions for the portfolio. On October 3, 2014, the Consumer Loan Companies refinanced the outstanding asset-backed notes with an asset-backed securitization. The proceeds in excess of the refinanced debt were distributed to the respective co-investors, which reduced New Residential’s basis in the consumer loans investment to $0.0 million and resulted in a gain. Subsequent to this refinancing, New Residential discontinued recording its share of the underlying earnings of the Consumer Loan Companies. During the three months ended March 31, 2016, the Consumer Loan Companies distributed $9.9 million to New Residential in excess of its basis, resulting in corresponding gains, including $0.03 million in tax withholding payments on behalf of New Residential. The tax withholding payments were considered a non-cash distribution. On March 31, 2016, New Residential entered into the SpringCastle Transaction (Note 1). As a result, New Residential owns 53.5% of, and consolidates, the Consumer Loan Companies. In August 2016, New Residential agreed to purchase up to $140.0 million UPB of newly originated consumer loans from a third party prior to September 30, 2016. New Residential purchased $92.6 million UPB of loans through September 30, 2016 , for an aggregate purchase price, including related costs, of $92.1 million . In October 2016, New Residential extended the terms of the agreement through October 2016 and purchased an additional $34.3 million UPB of loans for an aggregate purchase price of $34.2 million . These loans are not held in the Consumer Loan Companies and have been designated as performing consumer loans, held-for-investment. Upon acquisition, the consumer loans are accounted for based on New Residential’s strategy for the loan, and on whether the loan was credit impaired at the date of acquisition. New Residential determined that it has the intent and ability to hold the consumer loans for the foreseeable future and accounts for consumer loans based on the following categories: • Loans Held-for-Investment: ◦ Performing Loans ◦ PCD Loans The following table summarizes the investment in consumer loans, held-for-investment held by New Residential: Unpaid Principal Balance (A) Interest in Consumer Loans Carrying Value Weighted Average Coupon (B) Weighted Average Expected Life (Years) (C) Weighted Average Delinquency (D) September 30, 2016 Consumer Loan Companies Performing Loans $ 1,345,573 53.5 % $ 1,391,388 18.7 % 4.3 5.7 % Purchased Credit Deteriorated Loans (E) 396,462 53.5 % 339,916 16.6 % 3.6 13.2 % Other - Performing Loans 91,523 100.0 % 90,675 14.3 % 1.5 — % Total Consumer Loans, held-for-investment $ 1,833,558 $ 1,821,979 18.1 % 4.0 7.0 % December 31, 2015 (F) Consumer Loan Companies Total Consumer Loans, held-for-investment $ 2,094,904 30.0 % $ 1,698,130 18.2 % 4.4 7.2 % (A) Represents the balances as of September 30, 2016 and November 30, 2015, respectively. (B) Substantially all of the cash flows received on the loans held by the Consumer Loan Companies are required to be used to make payments on the notes described above. (C) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (D) Represents the percentage of the total unpaid principal balance that is 30+ days delinquent. Delinquency status is the primary credit quality indicator as it provides early warning of borrowers who may be experiencing financial difficulties. (E) Includes loans with evidence of credit deterioration since origination where it is probable that New Residential will not collect all contractually required principal and interest payments, which are accounted for as PCD loans. (F) Held through an equity method investee, which had a carrying value of zero, at such time. Performing Loans The following table provides past due information regarding New Residential’s performing consumer loans, held-for-investment, which is an important indicator of credit quality and the establishment of the allowance for loan losses: September 30, 2016 Days Past Due Delinquency Status (A) Current 94.7 % 30-59 2.2 % 60-89 1.2 % 90-119 (B) 0.7 % 120+ (B) (C) 1.2 % 100.0 % (A) Represents the percentage of the total unpaid principal balance that corresponds to loans that are in each delinquency status. (B) Includes loans more than 90 days past due and still accruing interest. (C) Interest is accrued up to the date of charge-off at 180 days past due. Activities related to the carrying value of performing consumer loans, held-for-investment were as follows: Performing Loans Balance at December 31, 2015 $ — SpringCastle Transaction 1,539,569 Purchases 92,069 Additional fundings (A) 33,137 Proceeds from repayments (155,388 ) Accretion of loan discount and premium amortization, net 5,097 Net charge-offs (30,535 ) Provision for loan losses (1,886 ) Balance at September 30, 2016 $ 1,482,063 (A) Represents draws on consumer loans with revolving privileges. Activities related to the allowance for loan losses on performing consumer loans, held-for-investment were as follows: Collectively Evaluated (A) Individually Impaired (B) Total Balance at March 31, 2016 $ — $ — $ — Provision for loan losses 31,382 1,039 32,421 Net charge-offs (C) (30,535 ) — (30,535 ) Balance at September 30, 2016 $ 847 $ 1,039 $ 1,886 (A) Represents smaller-balance homogeneous loans that are not individually considered impaired and are evaluated based on an analysis of collective borrower performance, key terms of the loans and historical and anticipated trends in defaults and loss severities, and consideration of the unamortized acquisition discount. Includes a provision for loan losses of $0.9 million for newly originated loans acquired during the three months ended September 30, 2016 . (B) Represents consumer loan modifications considered to be troubled debt restructurings (“TDRs”) as they provide concessions to borrowers, primarily in the form of interest rate reductions, who are experiencing financial difficulty. As of September 30, 2016 , there are $3.6 million in UPB and $2.5 million in carrying value of consumer loans classified as TDRs. (C) Consumer loans, other than PCD loans, are charged off when available information confirms that loans are uncollectible, which is generally when they become 180 days past due. Charge-offs are presented net of $5.6 million in recoveries of previously charged-off UPB. Purchased Credit Deteriorated Loans New Residential determined at acquisition that the PCD loans would be aggregated into pools based on common risk characteristics including delinquency status and loan terms. 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, including consideration of involuntary prepayments. A portion of the consumer loans are considered PCD loans. Activities related to the carrying value of PCD consumer loans, held-for-investment were as follows: Balance at December 31, 2015 $ — SpringCastle Transaction 395,129 Allowance for Loan Losses (A) (2,115 ) Proceeds from repayments (77,899 ) Accretion of loan discount and other amortization 24,801 Balance at September 30, 2016 $ 339,916 (A) Represents the present value of cash flows expected at acquisition that are no longer expected to be collected. The following is the unpaid principal balance and carrying value for consumer 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, 2016 $ 396,462 $ 339,916 March 31, 2016 450,611 395,129 The following is a summary of the changes in accretable yield for these loans: Balance at December 31, 2015 $ — SpringCastle Transaction 176,387 Accretion (24,801 ) Reclassifications from non-accretable difference (A) 24,167 Balance at September 30, 2016 $ 175,753 (A) Represents a probable and significant increase in cash flows previously expected to be uncollectible. Noncontrolling Interests Others’ interests in the equity of the Consumer Loan Companies is computed as follows at September 30, 2016 : Total Consumer Loan Companies equity $ 230,251 Others’ ownership interest 46.5 % Others’ interests in equity of consolidated subsidiary $ 107,067 Others’ interests in the Consumer Loan Companies’ net income (loss) is computed as follows: Three Months Ended September 30, 2016 Nine Months Ended Net Consumer Loan Companies income (loss) $ 28,655 $ 60,118 Others’ ownership interest as a percent of total 46.5 % 46.5 % Others’ interest in net income (loss) of consolidated subsidiaries $ 13,325 $ 27,955 Variable Interest Entities The Consumer Loan Companies consolidate certain entities that issued securitized debt collateralized by the consumer loans (the “Consumer Loan SPVs”). The Consumer Loan SPVs are VIEs of which the Consumer Loan Companies are the primary beneficiaries. The following table presents information on the combined assets and liabilities related to these consolidated VIEs. As of September 30, 2016 Assets Consumer loans, held-for-investment $ 1,731,304 Restricted cash 13,866 Accrued interest receivable 25,468 Total assets (A) $ 1,770,638 Liabilities Notes and bonds payable $ 1,590,387 Accounts payable and accrued expenses 1,150 Total liabilities (A) $ 1,591,537 (A) The creditors of the Consumer Loan SPVs do not have recourse to the general credit of New Residential, and the assets of the Consumer Loan SPVs are not directly available to satisfy New Residential’s obligations.

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES As of September 30, 2016 , New Residential’s derivative instruments included economic hedges that were not designated as hedges for accounting purposes. 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, as well as other factors. New Residential’s credit risk with respect to economic hedges 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. As of September 30, 2016 , New Residential held to-be-announced forward contract positions (“TBAs”) of $2.6 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 separately held TBAs of $1.4 billion in a long notional amount of Agency RMBS and any amounts or obligations owed by or to New Residential are subject to the right of setoff with the TBA counterparty. New Residential’s net short position in TBAs was entered into as an economic hedge in order to mitigate New Residential’s interest rate risk on certain specified mortgage backed securities. 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. New Residential’s derivatives are recorded at fair value on the Condensed Consolidated Balance Sheets as follows: Balance Sheet Location September 30, 2016 December 31, 2015 Derivative assets Interest Rate Caps Other assets $ 2,088 $ 2,689 $ 2,088 $ 2,689 Derivative liabilities TBAs Accrued expenses and other liabilities $ 3,461 $ 2,058 Interest Rate Swaps Accrued expenses and other liabilities 20,624 11,385 $ 24,085 $ 13,443 The following table summarizes notional amounts related to derivatives: September 30, 2016 December 31, 2015 TBAs, short position (A) $ 2,645,300 $ 1,450,000 TBAs, long position (A) 1,441,000 750,000 Interest Rate Caps (B) 2,435,000 3,400,000 Interest Rate Swaps, short positions (C) 2,044,000 2,444,000 (A) Represents the notional amount of Agency RMBS, classified as derivatives. (B) Caps LIBOR at 0.50% for $950.0 million of notional, at 0.75% for $1,150.0 million of notional, at 2.00% for $185.0 million of notional, and at 4.00% for $150.0 million of notional. The weighted average maturity of the interest rate caps as of September 30, 2016 was 12 months. (C) Receive LIBOR and pay a fixed rate. The weighted average maturity of the interest rate swaps as of September 30, 2016 was 19 months and the weighted average fixed pay rate was 1.28% . The following table summarizes all income (losses) recorded in relation to derivatives: For the For the 2016 2015 2016 2015 Other income (loss), net (A) TBAs $ 10,502 $ 2,054 $ (22 ) $ 254 Interest Rate Swaps 15,997 (10,221 ) (4,799 ) (15,310 ) Interest Rate Caps 463 (999 ) (3,683 ) (2,369 ) 26,962 (9,166 ) (8,504 ) (17,425 ) Gain (loss) on settlement of investments, net TBAs (15,922 ) (33,398 ) (55,159 ) (36,902 ) Interest Rate Caps — (545 ) (1,124 ) (545 ) Interest Rate Swaps (8,917 ) (10,536 ) (14,024 ) (15,853 ) (24,839 ) (44,479 ) (70,307 ) (53,300 ) Total income (losses) $ 2,123 $ (53,645 ) $ (78,811 ) $ (70,725 ) (A) Represents unrealized gains (losses).

DEBT OBLIGATIONS

DEBT OBLIGATIONS	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
DEBT OBLIGATIONS	DEBT OBLIGATIONS The following table presents certain information regarding New Residential’s debt obligations: September 30, 2016 December 31, 2015 Collateral Debt Obligations/Collateral Month Issued Outstanding Face Amount Carrying Value (A) Final Stated Maturity (B) Weighted Average Funding Cost Weighted Average Life (Years) Outstanding Face Amortized Cost Basis Carrying Value Weighted Average Life (Years) Carrying Value (A) Repurchase Agreements (C) Agency RMBS (D) Various $ 1,614,256 $ 1,614,256 Oct-16 to Dec-16 0.70 % 0.1 $ 1,591,692 $ 1,684,858 $ 1,680,197 0.5 $ 1,683,305 Non-Agency RMBS (E) Various 2,622,466 2,622,466 Oct-16 to Mar-17 2.24 % 0.1 6,312,788 3,396,357 3,502,317 7.0 1,333,852 Residential Mortgage Loans (F) Various 556,538 554,991 Oct-16 to Sep-18 3.01 % 0.5 882,312 685,345 682,916 3.0 907,993 Real Estate Owned (G)(H) Various 85,403 85,163 Oct-16 to Sep-18 3.09 % 0.4 N/A N/A 108,051 N/A 77,458 Consumer Loan Investment (I) Apr-15 53,068 53,068 Oct-16 5.61 % 0.1 N/A N/A 123,184 4.1 40,446 Total Repurchase Agreements 4,931,731 4,929,944 1.87 % 0.1 4,043,054 Notes and Bonds Payable Secured Corporate Notes (J) Various 270,511 268,290 Apr-18 to Jun-19 5.28 % 1.8 247,538,861 801,924 940,117 5.9 182,978 Servicer Advances (K) Various 5,907,803 5,897,747 Mar-17 to Jun-19 3.52 % 1.0 6,017,968 6,012,315 6,043,369 4.5 7,047,061 Residential Mortgage Loans (L) Oct-15 9,789 9,614 Oct-16 3.39 % 0.1 14,243 8,086 8,086 4.5 19,529 Consumer Loans (M) (N) Various 1,659,453 1,654,129 Sep-19 to Apr-34 4.31 % 3.1 1,822,593 1,812,730 1,811,115 4.0 — Receivable from government agency (L) Oct-15 3,429 3,429 Oct-16 3.39 % 0.1 N/A N/A 4,068 N/A — Total Notes and Bonds Payable 7,850,985 7,833,209 3.74 % 1.5 7,249,568 Total/ Weighted Average $ 12,782,716 $ 12,763,153 3.02 % 1.0 $ 11,292,622 (A) Net of deferred financing costs. (B) All debt obligations with a stated maturity of October 2016 were refinanced, extended, or repaid. (C) These repurchase agreements had approximately $6.7 million of associated accrued interest payable as of September 30, 2016 . (D) All of the Agency RMBS repurchase agreements have a fixed rate. Collateral amounts include approximately $1.5 billion of related trade and other receivables. (E) All of the Non-Agency RMBS repurchase agreements have LIBOR-based floating interest rates. This includes repurchase agreements of $89.2 million on retained servicer advance bonds. (F) All of these repurchase agreements have LIBOR-based floating interest rates. (G) All of these repurchase agreements have LIBOR-based floating interest rates. (H) Includes financing collateralized by receivables including claims from FHA on Ginnie Mae EBO loans for which foreclosure has been completed and for which New Residential has made or intends to make a claim on the FHA guarantee. (I) The repurchase agreement bears interest equal to three-month LIBOR plus 5.00% and is collateralized by 56% of New Residential’s interest in the Consumer Loan Companies (Note 9). (J) The loans bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.75% . The outstanding face amount of the collateral represents the UPB of the residential mortgage loans underlying the Excess MSRs that secure these notes. (K) $2.2 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 2.1% to 2.2% . (L) The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 2.875% . (M) Includes the debt assumed in the SpringCastle Transaction (Note 1), which is comprised of the following classes of asset-backed notes (collectively, the “2014-A Notes”) held by third parties: $637.1 million UPB of Class A notes with a coupon of 2.7% and a stated maturity date in May 2023 (the “Class A Notes”); $427.0 million UPB of Class B notes with a coupon of 4.61% and a stated maturity date in October 2027 (the “Class B Notes”); $331.2 million UPB of Class C notes with a coupon of 5.59% and a stated maturity date in October 2033 (the “Class C Notes”); and $199.8 million UPB of Class D notes with a coupon of 6.82% and a stated maturity date in April 2034 (the “Class D Notes”). Prior to the payment date in October 2016, the redemption price for any class of the outstanding 2014-A Notes shall be the sum of (i) 100% of the UPB of the 2014-A Notes of the applicable class to be redeemed, plus (ii) the applicable Specified Call Premium Amount (as defined below) for such 2014-A Notes, plus (iii) accrued and unpaid interest and fees in respect of such 2014-A Notes. On or after the payment date occurring in October 2016, the redemption price for any class of 2014-A Notes shall be the sum of (i) 100% of the UPB of the 2014-A Notes of the applicable class to be redeemed, plus (ii) accrued and unpaid interest and fees in respect of such 2014-A Notes. The “Specified Call Premium Amount” on any payment date for any class of 2014-A Notes shall mean (i) in the case of Class A Notes, an amount equal to 1.00% of the UPB of the Class A Notes to be redeemed and (ii) in the case of the Class B Notes, the Class C Notes and the Class D Notes, an amount equal to (a) the product of (1) with respect to the Class B Notes, 0.75% , with respect to the Class C Notes, 1.00% and with respect to the Class D Notes, 2.00% , times (2) the UPB of the 2014-A Notes of such class to be redeemed on such payment date, times (3) the number of days, computed on a 30/360 basis, from and including such payment date to but excluding the payment date occurring in October 2016, divided by (b) 360. (N) Includes a $64.3 million face amount note collateralized by newly originated consumer loans which bears interest equal to one-month LIBOR plus 3.25% . General 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 and Consumer Loans, such collateral is not available to other creditors of New Residential. New Residential has margin exposure on $4.9 billion of repurchase agreements as of September 30, 2016 . 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. Activities related to the carrying value of New Residential’s debt obligations were as follows: Excess MSRs Servicer Advances (A) Real Estate Securities Real Estate Loans and REO Consumer Loans Total Balance at December 31, 2015 $ 182,978 $ 7,047,061 $ 3,017,157 $ 1,004,980 $ 40,446 $ 11,292,622 Repurchase Agreements: Borrowings — — 21,719,656 326,174 21,458 22,067,288 Repayments — — (20,500,091 ) (670,333 ) (8,836 ) (21,179,260 ) Capitalized deferred financing costs, net of amortization — — — (1,138 ) — (1,138 ) Notes and Bonds Payable: Acquired borrowings, net of discount — — — — 1,803,192 1,803,192 Borrowings 401,740 5,101,227 — — 64,342 5,567,309 Repayments (315,662 ) (6,251,482 ) — (6,311 ) (212,953 ) (6,786,408 ) Discount on borrowings, net of amortization 1,420 — — — 147 1,567 Capitalized deferred financing costs, net of amortization (2,186 ) 941 — (175 ) (599 ) (2,019 ) Balance at September 30, 2016 $ 268,290 $ 5,897,747 $ 4,236,722 $ 653,197 $ 1,707,197 $ 12,763,153 (A) New Residential net settles daily borrowings and repayments of the Notes and Bonds Payable on its Servicer Advances. Excess MSRs In April 2016, New Residential entered into a $225.0 million corporate loan secured by Agency Excess MSRs. The loan bears interest equal to the sum of one-month LIBOR plus 4.75% and matures in April 2018. In June 2016, New Residential entered into a $101.2 million corporate loan secured by Non-Agency Excess MSRs with a maximum capacity of $300.0 million . The loan bears interest equal to the sum of one-month LIBOR plus 4.75% and matures in June 2019. Servicer Advances On March 31, 2016, the HSART facility was paid off and, in anticipation of such pay off, New Residential increased the capacity of, and transferred the related collateral to, various existing servicer advance financing facilities. As a result, New Residential recorded $0.1 million of loss on extinguishment of debt related to a write-off of unamortized deferred financing costs. On May 9, 2016, a Buyer facility was paid off and replaced by a new 2 -year servicer advance facility with a different lender. The maximum capacity of the new facility is $185.0 million . In May 2016, New Residential increased the capacity and extended the maturity on a $950.0 million servicer advance financing facility. On June 30, 2016, New Residential, through its wholly-owned subsidiary, NRZ Advance Receivables Trust 2016-T1, issued servicer advance backed notes consisting of $400.0 million of term notes with a maturity date of June 17, 2019, of which approximately $20.9 million was voluntarily retained. On July 15, 2016, the NRART 2015-T1 notes with principal balance of $400.0 million were repaid in full, using proceeds from the $400.0 million of term notes with a maturity date of June 17, 2019 issued on June 30, 2016. Upon such paydown, the term notes were replaced with existing capacity at the advance facility VFN with the same lender. As a result, New Residential recorded $0.2 million of loss on extinguishment of debt related to a write-off of unamortized deferred financing costs. On August 15, 2016, the NRART 2015-T3 notes with principal balance of $400.0 million were repaid in full and replaced with existing capacity at the advance facility VFN with the same lender. As a result, New Residential recorded $0.7 million of loss on extinguishment of debt related to a write-off of unamortized deferred financing costs and a redemption payment. On September 15, 2016, a Buyer VFN facility was refinanced and downsized, and the reduction in capacity of the VFN was exchanged for the same capacity through issuance of NSART-BAM Series 2016 VF-1 Class B-TF1 Mezzanine Notes. Maturities New Residential’s debt obligations as of September 30, 2016 had contractual maturities as follows: Year Nonrecourse Recourse Total October 1 through December 31, 2016 $ — $ 4,176,165 $ 4,176,165 2017 5,088,249 680,321 5,768,570 2018 501,636 247,272 748,908 2019 443,451 50,511 493,962 2020 — — — 2021 and thereafter 1,595,111 — 1,595,111 $ 7,628,447 $ 5,154,269 $ 12,782,716 Borrowing Capacity The following table represents New Residential’s borrowing capacity as of September 30, 2016 : Debt Obligations / Collateral Collateral Type Borrowing Capacity Balance Outstanding Available Financing Repurchase Agreements Residential Mortgage Loans Real Estate Loans and REO $ 2,065,000 $ 641,941 $ 1,423,059 Notes and Bonds Payable Secured Corporate Loan Excess MSRs 525,000 270,511 254,489 Servicer Advances (A) Servicer Advances 7,274,860 5,907,803 1,367,057 Consumer Loans Consumer Loans 125,000 64,342 60,658 $ 9,989,860 $ 6,884,597 $ 3,105,263 (A) New Residential’s unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions as set forth in the applicable agreements, including any applicable advance rate. New Residential pays a 0.2% fee on the unused borrowing capacity. Excludes borrowing capacity and outstanding debt for retained non-agency bonds with a current face amount of $110.1 million . Certain of the debt obligations are subject to customary debt covenants and event of default provisions, including event of default provisions triggered by a 50% equity decline over any 12 -month period, or a 35% decline over any three -month period, as of a quarter end, and a 4 :1 indebtedness to tangible net worth provision. New Residential was in compliance with all of its debt covenants as of September 30, 2016 .

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2016
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 and liabilities recorded at fair value on a recurring basis, as well as other financial instruments for which fair value is disclosed, as of September 30, 2016 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 value (A) $ 290,291,012 $ 1,404,052 $ — $ — $ 1,404,052 $ 1,404,052 Excess mortgage servicing rights, equity method investees, at fair value (A) 63,834,062 195,904 — — 195,904 195,904 Servicer advances 6,017,968 6,043,369 — — 6,043,369 6,043,369 Real estate securities, available-for-sale 8,027,852 4,991,242 — 1,434,308 3,556,934 4,991,242 Residential mortgage loans, held-for-investment — — — — — — Residential mortgage loans, held-for-sale 927,523 705,481 — — 733,879 733,879 Consumer loans, held-for-investment 1,833,558 1,821,979 — — 1,852,118 1,852,118 Derivative assets 2,435,000 2,088 — 2,088 — 2,088 Cash and cash equivalents 388,674 388,674 388,674 — — 388,674 Restricted cash 153,127 153,127 153,127 — — 153,127 Other Assets 729,193 3,255 — — 3,255 3,255 $ 15,709,171 $ 541,801 $ 1,436,396 $ 13,789,511 $ 15,767,708 Liabilities Repurchase agreements $ 4,931,731 $ 4,929,944 $ — $ 4,931,731 $ — $ 4,931,731 Notes and bonds payable 7,850,985 7,833,209 — — 7,864,545 7,864,545 Derivative liabilities 6,130,300 24,085 — 24,085 — 24,085 $ 12,787,238 $ — $ 4,955,816 $ 7,864,545 $ 12,820,361 (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. New Residential’s financial assets measured at fair value on a recurring basis using Level 3 inputs changed as follows: Level 3 Excess MSRs (A) Excess MSRs in Equity Method Investees (A)(B) Agency Non-Agency Agency Servicer Advances Non-Agency RMBS Total Balance at December 31, 2015 $ 437,201 $ 1,144,316 $ 217,221 $ 7,426,794 $ 1,584,283 $ 10,809,815 Transfers (C) Transfers from Level 3 — — — — — — Transfers to Level 3 — — — — — — Gains (losses) included in net income Included in other-than-temporary impairment on securities (D) — — — — (7,838 ) (7,838 ) Included in change in fair value of investments in excess mortgage servicing rights (D) (7,292 ) (17,105 ) — — — (24,397 ) Included in change in fair value of investments in excess mortgage servicing rights, equity method investees (D) — — 8,608 — — 8,608 Included in change in fair value of investments in Servicer Advances — — — 4,328 — 4,328 Included in gain (loss) on settlement of investments, net — — — — (20,950 ) (20,950 ) Included in other income (loss), net (D) 1,930 258 — — (2,779 ) (591 ) Gains (losses) included in other comprehensive income (E) — — — — 105,031 105,031 Interest income 25,156 81,692 — 257,877 133,589 498,314 Purchases, sales and repayments Purchases — — — 11,588,537 2,298,446 13,886,983 Proceeds from sales — — — — (95,430 ) (95,430 ) Proceeds from repayments (68,231 ) (193,873 ) (29,925 ) (13,234,167 ) (437,418 ) (13,963,614 ) Balance at September 30, 2016 $ 388,764 $ 1,015,288 $ 195,904 $ 6,043,369 $ 3,556,934 $ 11,200,259 (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 each 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 and realized gains (losses) recorded during the period. (E) These gains (losses) were included in net unrealized gain (loss) on securities in the Condensed Consolidated Statements of Comprehensive Income. 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, 2016 : Significant Inputs (A) Directly Held (Note 4) Prepayment Rate (B) Delinquency (C) Recapture Rate (D) Excess Mortgage Servicing Amount (bps) (E) Collateral Weighted Average Maturity (Years) (F) Agency Original Pools 10.6 % 3.3 % 32.5 % 21 24 Recaptured Pools 7.6 % 4.8 % 20.9 % 21 25 Recapture Agreement 7.6 % 4.9 % 20.0 % 22 — 9.8 % 3.7 % 29.2 % 21 24 Non-Agency (G) Nationstar and SLS Serviced: Original Pools 11.9 % N/A 10.6 % 14 24 Recaptured Pools 8.1 % N/A 20.0 % 20 24 Recapture Agreement 7.5 % N/A 20.0 % 20 — Ocwen Serviced Pools 9.6 % N/A — % 14 25 10.0 % N/A 2.7 % 14 25 Total/Weighted Average--Directly Held 9.9 % 3.7 % 10.0 % 16 25 Held through Equity Method Investees (Note 5) Agency Original Pools 12.4 % 5.3 % 35.0 % 19 23 Recaptured Pools 7.8 % 5.0 % 20.0 % 23 25 Recapture Agreement 7.7 % 4.9 % 20.0 % 23 — Total/Weighted Average--Held through Investees 10.4 % 5.2 % 28.6 % 21 24 Total/Weighted Average--All Pools 10.0 % 4.0 % 13.9 % 17 25 (A) Weighted by fair value of the 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 for which the borrower will miss its mortgage payments. (D) Percentage of voluntarily prepaid loans that are expected to be refinanced by the related servicer. (E) Weighted average total mortgage servicing amount in excess of the basic fee, measured in basis points (bps). (F) Weighted average maturity of the underlying mortgage loans in the pool. (G) 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. As of September 30, 2016 , a weighted average discount rate of 9.8% 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 Rate (A) Delinquency Mortgage Servicing Amount (B) Discount Rate Collateral Weighted Average Maturity (Years) (C) September 30, 2016 2.1 % 10.3 % 14.8 % 8.6 bps 5.4 % 24.7 (A) Projected annual weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector. (B) Mortgage servicing amount excludes the amounts New Residential pays its servicers as a monthly servicing fee. (C) Weighted average maturity of the underlying mortgage loans in the pool. Real Estate Securities Valuation As of September 30, 2016 , 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 $ 1,356,580 $ 1,437,777 $ 1,434,308 $ — $ 1,434,308 2 Non-Agency RMBS (C) 6,671,272 3,446,822 3,062,411 494,523 3,556,934 3 Total $ 8,027,852 $ 4,884,599 $ 4,496,719 $ 494,523 $ 4,991,242 (A) New Residential generally obtains pricing service quotations or broker quotations from two sources, one of which is generally the seller (the party that sold New Residential the security) for Non-Agency RMBS. New Residential evaluates quotes received and determines one as being most representative of fair value, and does 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 it 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. New Residential 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, it selects one of the quotes which is believed to more accurately reflect fair value. New Residential has not adjusted any of the quotes received in the periods presented. 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. New Residential’s investments in Agency RMBS are classified within Level 2 of the fair value hierarchy because the market for these securities is very active and market prices are readily observable. The third-party pricing services and brokers engaged by New Residential (collectively, “valuation providers”) use either the income approach or the market approach, or a combination of the two, in arriving at their estimated valuations of RMBS. Valuation providers using the market approach generally look at prices and other relevant information generated by market transactions involving identical or comparable assets. Valuation providers using the income approach create pricing models that generally incorporate such assumptions as discount rates, expected prepayment rates, expected default rates and expected loss severities. New Residential has reviewed the methodologies utilized by its valuation providers and has found them to be consistent with GAAP requirements. In addition to obtaining multiple quotations, when available, and reviewing the valuation methodologies of its valuation providers, New Residential creates its own internal pricing models for Level 3 securities and uses the outputs of these models as part of its process of evaluating the fair value estimates it receives from its valuation providers. These models incorporate the same types of assumptions as the models used by the valuation providers, but the assumptions are developed independently. These assumptions are regularly refined and updated at least quarterly by New Residential, and reviewed by its valuation group, which is separate from its investment acquisition and management group, to reflect market developments and actual performance. For 67.6% of our Non-Agency RMBS, the ranges of assumptions used by New Residential’s valuation providers are summarized in the table below. The assumptions used by New Residential’s valuation providers with respect to the remainder of New Residential’s Non-Agency RMBS were not readily available. Fair Value Discount Rate Prepayment Rate (a) CDR (b) Loss Severity (c) Non-Agency RMBS $ 2,403,846 1.57% to 32.75% 0% to 20% 0.1% to 12.0% 5.0% to 100% (a) Represents the annualized rate of the prepayments as a percentage of the total principal balance of the pool. (b) Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance of the pool. (c) Represents the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding balance. (B) New Residential was unable to obtain quotations from more than one source on these securities. For approximately $462.7 million , the one source was the party that sold New Residential the security. (C) Includes New Residential’s investments in interest-only notes for which the fair value option for financial instruments was elected. 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. At September 30, 2016 , assets measured at fair value on a nonrecurring basis were $0.1 billion . The $0.1 billion includes approximately $110.4 million of residential mortgage loans held-for-sale and $38.8 million of REO. The fair value of New Residential’s mortgage loans, held-for-sale is estimated based on a discounted cash flow model analysis using internal pricing models and categorized within Level 3 of the fair value hierarchy. The following table summarizes the inputs used in valuing these loans as of September 30, 2016 : September 30, 2016 Fair Value and Carrying Value Discount Rate Weighted Average Life (Years) (A) Prepayment Rate CDR (B) Loss Severity (C) Residential Mortgage Loans Performing Loans $ 88,474 3.1 % 3.9 17.4 % 0.6 % 11.3 % Non-performing Loans 21,895 6.5 % 3.2 3.0 % 3.0 % 30.0 % Total/Weighted Average $ 110,369 3.8 % 3.8 14.5 % 15.0 % (A) The weighted average life is based on the expected timing of the receipt of cash flows. (B) Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance. (C) Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance. 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. These discounts to the broker price opinion generally range from 10% to 25% , depending on the information available to the broker. The total change in the recorded value of assets for which a fair value adjustment was included in the Condensed Consolidated Statement of Income for the nine months ended September 30, 2016 was an increase in the net valuation allowance of approximately $11.4 million , consisting of a $13.6 million increase in the net valuation allowance for REO, offset by a reversal of prior valuation allowance of $2.2 million for residential mortgage loans held-for-sale. Loans for Which Fair Value is Only Disclosed The following table summarizes the inputs used in valuing certain loans as of September 30, 2016 : Carrying Value Fair Value Valuation and Loss Provision/ (Reversal) In Current Year Discount Rate Weighted Average Life (Years) (A) Prepayment Rate CDR (B) Loss Severity (C) Reverse Mortgage Loans (D) $ 11,836 $ 13,707 $ 73 7.0 % 4.5 N/A N/A 10.8 % Performing Loans 18,693 18,909 4 8.0 % 5.3 5.4 % 2.4 % 59.3 % Non-performing Loans 564,583 590,894 N/A 7.4 % 2.8 2.4 % 3.0 % 30.0 % Total/Weighted Average $ 595,112 $ 623,510 $ 77 7.4 % 2.9 30.5 % Consumer Loans $ 1,821,979 $ 1,852,118 $ 4,001 9.3 % 4.0 15.2 % 5.5 % 88.0 % (A) The weighted average life is based on the expected timing of the receipt of cash flows. (B) Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance. (C) Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance. (D) Carrying value and fair value represent a 70% participation interest New Residential holds in the portfolio of reverse mortgage loans. Derivative Valuation New Residential enters into economic hedges including interest rate swaps, caps and TBAs, which are categorized as Level 2 in the valuation hierarchy. New Residential 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 and bonds payable are not measured at fair value. They 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 and bonds payable have an estimated fair value equal to their carrying value due to their short duration and generally floating interest rates. Longer-term notes and bonds payable are valued based on internal models utilizing both observable and unobservable inputs. The debt assumed in the SpringCastle Transaction (Notes 1 and 11) was recorded at its fair value of $1.8 billion on March 31, 2016. The fair value was estimated based on a discounted cash flow model using both observable and unobservable inputs to estimate the amount and timing of expected cash flows, interest rates and collateral funding spreads and, therefore, was categorized within Level 3 of the fair value hierarchy.

EQUITY AND EARNINGS PER SHARE

EQUITY AND EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2016
Equity and Earnings Per Share [Abstract]
EQUITY AND EARNINGS PER SHARE	EQUITY AND EARNINGS PER SHARE Equity and Dividends On December 10, 2015, New Residential’s Board of Directors declared a fourth quarter 2015 dividend of $0.46 per common share or $106.0 million , which was paid on January 29, 2016 to stockholders of record as of December 31, 2015. On March 22, 2016, New Residential’s Board of Directors declared a first quarter 2016 dividend of $0.46 per common share or $106.0 million , which was paid on April 29, 2016 to stockholders of record as of April 4, 2016. On June 27, 2016, New Residential’s Board of Directors declared a second quarter 2016 dividend of $0.46 per common share or $106.0 million , which was paid on July 29, 2016 to stockholders of record as of July 7, 2016. On September 23 , 2016, New Residential’s Board of Directors declared a third quarter 2016 dividend of $0.46 per common share or $115.4 million , which was paid on October 28, 2016 to stockholders of record as of October 3, 2016 . On January 19, 2016, New Residential announced that its Board of Directors had authorized the repurchase of up to $200.0 million of its common stock over the next 12 months. Repurchases may be made at any time and from time to time through open market purchases or privately negotiated transactions, pursuant to one or more plans established pursuant to Rule 10b5-1 under the Exchange Act, by means of one or more tender offers, or otherwise, in each case, as permitted by securities laws and other legal and contractual requirements. The amount and timing of the purchases, if any, will depend on a number of factors including the price and availability of New Residential’s shares, trading volume, capital availability, New Residential’s performance and general economic and market conditions. The share repurchase program may be suspended or discontinued at any time. No share repurchases have been made as of the date of issuance of these condensed consolidated financial statements. Repurchases may impact New Residential’s financial results, including fees paid to its Manager. In August 2016, New Residential issued 20.0 million shares of its common stock in a public offering at a price to the public of $14.20 per share for net proceeds of approximately $278.8 million . To compensate the Manager for its successful efforts in raising capital for New Residential, in connection with this offering, New Residential granted options to the Manager relating to 2.0 million shares of New Residential’s common stock at the public offering price, which had a fair value of approximately $2.3 million as of the grant date. The assumptions used in valuing the options were: a 1.45% risk-free rate, a 11.80% dividend yield, 27.57% volatility and a 10 -year term. In August 2016, employees of the Manager exercised an aggregate of 1,100,497 options with a weighted average exercise price of $10.59 per share. Upon exercise, 280,111 shares of common stock of New Residential were issued. Approximately 2.4 million shares of New Residential’s common stock were held by Fortress, through its affiliates, and its principals at September 30, 2016 . Option Plan As of September 30, 2016 , New Residential’s outstanding options were summarized as follows: Issued Prior to 2011 Issued in 2011-2016 Total Held by the Manager 345,720 10,874,152 11,219,872 Issued to the Manager and subsequently transferred to certain of the Manager’s employees 88,280 1,967,458 2,055,738 Issued to the independent directors — 6,000 6,000 Total 434,000 12,847,610 13,281,610 The following table summarizes New Residential’s outstanding options as of September 30, 2016 . The last sales price on the New York Stock Exchange for New Residential’s common stock in the quarter ended September 30, 2016 was $13.81 per share. Recipient Date of Grant/ Exercise (A) Number of Unexercised Options Options Exercisable as of September 30, 2016 Weighted Average Exercise Price (B) Intrinsic Value of Exercisable Options as of September 30, 2016 (millions) Directors Various 6,000 6,000 $ 13.60 $ — Manager (C) 2003 - 2007 434,000 434,000 31.36 — Manager (C) 2011 - 2012 25,000 25,000 7.19 0.2 Manager (C) 2013 835,571 835,571 11.48 2.0 Manager (C) 2014 1,437,500 1,389,583 12.20 2.2 Manager (C) 2015 8,543,539 4,655,103 15.44 — Manager (C) 2016 2,000,000 66,667 14.20 — Outstanding 13,281,610 7,411,924 (A) Options expire on the tenth anniversary from date of grant. (B) The exercise prices are subject to adjustment in connection with return of capital dividends. (C) The Manager assigned certain of its options to Fortress’s employees as follows: Date of Grant Range of Exercise Prices Total Unexercised Inception to Date 2006-2007 $29.92 to $33.80 88,280 2013 $10.24 to $11.48 — 2014 $12.20 258,750 2015 $15.25 to $15.88 1,708,708 2016 $13.65 to $14.20 — Total 2,055,738 The following table summarizes activity in New Residential’s outstanding options: Amount Weighted Average Exercise Price December 31, 2015 outstanding options 12,380,107 Options granted 2,002,000 $ 14.20 Options exercised (1,100,497 ) $ 10.59 Options expired unexercised — September 30, 2016 outstanding options 13,281,610 See table above Income and Earnings Per Share 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 options. During the three and nine months ended September 30, 2016 , based on the treasury stock method, New Residential had 497,690 and 309,544 dilutive common stock equivalents outstanding. During the three and nine months ended September 30, 2015 , based on the treasury stock method, New Residential had 759,667 and 2,821,758 dilutive common stock equivalents outstanding. 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) and Consumer Loans (Note 9), as well as HLSS for the period of April 6, 2015 through October 23, 2015.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation – Following the HLSS Acquisition (see Note 1 for related defined terms), material potential claims, lawsuits, regulatory inquiries or investigations, and other proceedings, of which New Residential is currently aware, are as follows. New Residential has not accrued losses in connection with these legal contingencies because it does not believe there is a probable and reasonably estimable loss. Furthermore, New Residential cannot reasonably estimate the range of potential loss related to these legal contingencies at this time. However, the ultimate outcome of the proceedings described below may have a material adverse effect on New Residential’s business, financial position or results of operations. In addition to the matters described below, from time to time, New Residential is or may be involved in various disputes, litigation and regulatory inquiry and investigation matters that arise in the ordinary course of business. Given the inherent unpredictability of these types of proceedings, it is possible that future adverse outcomes could have a material adverse effect on its financial results. New Residential is not aware of any unasserted claims that it believes are material and probable of assertion where the risk of loss is expected to be reasonably possible. Three putative class action lawsuits have been filed against HLSS and certain of its current and former officers and directors in the United States District Court for the Southern District of New York entitled: (i) Oliveira v. Home Loan Servicing Solutions, Ltd., et al. , No. 15-CV-652 (S.D.N.Y.), filed on January 29, 2015; (ii) Berglan v. Home Loan Servicing Solutions, Ltd., et al. , No. 15-CV-947 (S.D.N.Y.), filed on February 9, 2015; and (iii) W. Palm Beach Police Pension Fund v. Home Loan Servicing Solutions, Ltd., et al. , No. 15-CV-1063 (S.D.N.Y.), filed on February 13, 2015. On April 2, 2015, these lawsuits were consolidated into a single action, which is referred to as the “Securities Action.” On April 28, 2015, lead plaintiffs, lead counsel and liaison counsel were appointed in the Securities Action. On November 9, 2015, lead plaintiffs filed an amended class action complaint. On January 27, 2016, the Securities Action was transferred to the United States District Court for the Southern District of Florida and given the Index No. 16-CV-60165 (S.D. Fla.). The Securities Action names as defendants HLSS, former HLSS Chairman William C. Erbey, HLSS Director, President, and Chief Executive Officer John P. Van Vlack, and HLSS Chief Financial Officer James E. Lauter. The Securities Action asserts causes of action under Sections 10(b) and 20(a) of the Exchange Act based on certain public disclosures made by HLSS relating to its relationship with Ocwen and HLSS’s risk management and internal controls. More specifically, the consolidated class action complaint alleges that a series of statements in HLSS’s disclosures were materially false and misleading, including statements about (i) Ocwen’s servicing capabilities; (ii) HLSS’s contingencies and legal proceedings; (iii) its risk management and internal controls; and (iv) certain related party transactions. The consolidated class action complaint also appears to allege that HLSS’s financial statements for the years ended 2012 and 2013, and the first quarter ended March 30, 2014, were false and misleading based on HLSS’s August 18, 2014 restatement. Lead plaintiffs in the Securities Action also allege that HLSS misled investors by failing to disclose, among other things, information regarding governmental investigations of Ocwen’s business practices. Lead plaintiffs seek money damages under the Exchange Act in an amount to be proven at trial and reasonable costs, expenses, and fees. On February 11, 2015, defendants filed motions to dismiss the Securities Action in its entirety. On June 6, 2016, all allegations except those regarding certain related party transactions were dismissed. New Residential intends to vigorously defend the Securities Action. Three shareholder derivative actions have been filed in the United States District Court for the Southern District of Florida purportedly on behalf of Ocwen: (i) Sokolowski v. Erbey, et al. , No. 14-CV-81601 (S.D. Fla.) (the “Sokolowski Action”); (ii) Hutt v. Erbey, et al., No. 15-CV-81709 (S.D. Fla.) (the “Hutt Action”); and (iii) Lowinger v. Erbey, et al. , No. 15-CV-62628 (S.D. Fla.) (the “Lowinger Action”). On November 9, 2015, HLSS filed a motion to dismiss the Sokolowski Action. While that motion was pending, the Hutt Action, which at the time did not name HLSS as a defendant, was transferred from the Northern District of Georgia to the Southern District of Florida and the Lowinger Action, which at the time also did not name HLSS as a defendant, was filed. On January 8, 2016, the court consolidated the three actions and denied HLSS’s motion to dismiss the Sokolowski complaint as moot and without prejudice to re-file a new motion to dismiss following the filing of a consolidated complaint. On March 8, 2016, plaintiffs filed their consolidated complaint. The consolidated complaint alleges, among other things, that certain of Ocwen’s current and former directors and officers, including former HLSS Chairman William C. Erbey, breached their fiduciary duties to Ocwen by, among other things, causing Ocwen to enter into transactions that were harmful to Ocwen. The complaint further alleges that HLSS and others aided and abetted the alleged breaches of fiduciary duty by Mr. Erbey and the other directors and officers of Ocwen who have been named as defendants. The consolidated complaint also asserts causes of action against HLSS and others for unjust enrichment and for contribution. The lawsuit seeks money damages from HLSS in an amount to be proven at trial. On May 13, 2016, HLSS filed a motion to dismiss the consolidated complaint pursuant to Federal Rules of Civil Procedure 12(b)(6) and 23.1. On October 18, 2016, plaintiffs filed a settlement term sheet with the court outlining an agreement in principle that plaintiffs have reached with Ocwen which would resolve the lawsuit and result in a with prejudice dismissal and releases for all defendants, including HLSS and New Residential. Neither HLSS nor New Residential is required to make any settlement payment. The proposed settlement is subject to court approval following notice of the settlement to Ocwen’s shareholders and a final settlement hearing. One shareholder derivative action has been filed in Florida state court in the Circuit Court of the Fifteenth Judicial Circuit in and for Palm Beach County, Florida purportedly on behalf of Ocwen: Moncavage v. Faris, et al. , No. 2015CA003244 (Fla. Palm Beach Cty. Ct.). The complaint alleges, among other things, that certain current and former Ocwen directors and officers breached their fiduciary duties to Ocwen. The complaint also alleged that HLSS and others aided and abetted the alleged breaches of fiduciary duty. The lawsuit seeks money damages from HLSS in an amount to be proved at trial. On November 9, 2015, the court entered an order staying all proceedings in the case pending further order of the Court. HLSS has not been served. If the litigation proceeds, New Residential intends to vigorously defend the lawsuit. On March 11, 2015, plaintiff David Rattner filed a shareholder derivative action purportedly on behalf of HLSS entitled Rattner v. Van Vlack, et al. , No. 2015CA002833 (Fla. Palm Beach Cty. Ct.) (the “HLSS Derivative Action”). The lawsuit names as defendants HLSS directors John P. Van Vlack, Robert J. McGinnis, Kerry Kennedy, Richard J. Lochrie, and David B. Reiner (collectively, the “Director Defendants”), New Residential Investment Corp., and Hexagon Merger Sub, Ltd. The HLSS Derivative Action alleges that the Director Defendants breached their fiduciary duties of due care, diligence, loyalty, honesty and good faith and the duty to act in the best interests of HLSS under Cayman law and claims that the Director Defendants approved a proposed merger with New Residential Investment Corp. that (i) provided inadequate consideration to HLSS’s shareholders, (ii) included unfair deal protection devices, and (iii) was the result of an inadequate process due to conflicts of interest. On July 8, 2015, the complaint was voluntarily dismissed without prejudice. New Residential is, from time to time, subject to inquiries by government entities. New Residential currently does not believe any of these inquiries would result in a material adverse effect on New Residential’s business. 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, 2016 , New Residential had outstanding capital commitments related to investments in the following investment types (also refer to Notes 9 and 18 for additional capital commitments entered into subsequent to September 30, 2016 , if any): Servicer Advances — New Residential and third-party co-investors agreed to purchase 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. Environmental Costs — As a residential real estate owner through its REO, New Residential is subject to potential environmental costs. At September 30, 2016 , New Residential is not aware of any environmental concerns that would have a material adverse effect on its consolidated financial position or results of operations. Debt Covenants — New Residential’s debt obligations contain various customary debt covenants (Note 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 failed to qualify as a REIT for a taxable year ending on or before December 31, 2014, New Residential could be prohibited from electing to be a REIT. Accordingly, , in the separation and distribution agreement executed in connection with our spin-off from Newcastle, Newcastle (i) represented that it had 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 U.S. Internal Revenue Service (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 AN

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES	9 Months Ended
	Sep. 30, 2016
Transactions With Affiliates And Affiliated Entities
TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES	TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES New Residential is party to a Management Agreement with its Manager which provides for automatically renewing one -year terms subject to certain termination rights. The Manager’s performance is reviewed annually and the Management Agreement may be terminated by New Residential by payment of a termination fee, as defined in the Management Agreement, equal to the amount of management fees earned by the Manager during the 12 consecutive calendar months immediately preceding the termination, upon the affirmative vote of at least two-thirds of the independent directors, or by a majority vote of the holders of common stock. Pursuant to the Management Agreement, the Manager, under the supervision of New Residential’s board of directors, formulates investment strategies, arranges for the acquisition of assets and associated financing, monitors the performance of New Residential’s assets and provides certain advisory, administrative and managerial services in connection with the operations of New Residential. Effective May 15, 2013, the Manager is entitled to receive a management fee in an amount equal to 1.5% per annum of New Residential’s gross equity calculated and payable monthly in arrears in cash. Gross equity is generally the equity transferred by Newcastle on the date of the spin-off (Note 13), plus total net proceeds from stock offerings, plus certain capital contributions to subsidiaries, less capital distributions and repurchases of common stock. In addition, effective May 15, 2013, the Manager is entitled to receive annual incentive compensation in an amount equal to the product of (A) 25% of the dollar amount by which (1) (a) New Residential’s funds from operations before the incentive compensation, excluding funds from operations from investments in the Consumer Loan Companies and any unrealized gains or losses from mark-to-market valuation changes on investments and debt (and any deferred tax impact thereof), per share of common stock, plus (b) earnings (or losses) from the Consumer Loan Companies computed on a level-yield basis (such that the loans are treated as if they qualified as loans acquired with a discount for credit quality as set forth in ASC No. 310-30, as such codification was in effect on June 30, 2013) as if the Consumer Loan Companies had been acquired at their GAAP basis on May 15, 2013, plus earnings (or losses) from equity method investees invested in Excess MSRs as if such equity method investees had not made a fair value election, plus gains (or losses) from debt restructuring and gains (or losses) from sales of property, and plus non-routine items, minus amortization of non-routine items, in each case per share of common stock, exceed (2) an amount equal to (a) the weighted average of the book value per share of the equity transferred by Newcastle on the date of the spin-off and the prices per share of New Residential’s common stock in any offerings (adjusted for prior capital dividends or capital distributions) multiplied by (b) a simple interest rate of 10% per annum, multiplied by (B) the weighted average number of shares of common stock outstanding. “Funds from operations” means net income (computed in accordance with GAAP), excluding gains (or losses) from debt restructuring and gains (or losses) from sales of property, plus depreciation on real estate assets, and after adjustments for unconsolidated partnerships and joint ventures. Funds from operations will be computed on an unconsolidated basis. The computation of funds from operations may be adjusted at the direction of New Residential’s independent directors based on changes in, or certain applications of, GAAP. Funds from operations is determined from the date of the spin-off and without regard to Newcastle’s prior performance. In addition to the management fee and incentive compensation, New Residential is responsible for reimbursing the Manager for certain expenses paid by the Manager on behalf of New Residential. Due to affiliates is comprised of the following amounts: September 30, 2016 December 31, 2015 Management fees $ 3,688 $ 6,671 Incentive compensation 13,200 16,017 Expense reimbursements and other 1,722 1,097 $ 18,610 $ 23,785 Affiliate expenses and fees were comprised of: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Management fees $ 10,536 $ 9,860 $ 30,552 $ 23,357 Incentive compensation 7,075 1,811 13,200 7,895 Expense reimbursements (A) 125 125 375 375 Total $ 17,736 $ 11,796 $ 44,127 $ 31,627 (A) Included in General and Administrative Expenses in the Condensed Consolidated Statements of Income. See Notes 4, 5, 6, 7, 8, 11, 14 and 18 for a discussion of transactions with Nationstar. As of September 30, 2016 , 63.8% and 34.0% of the UPB of the loans underlying New Residential’s investments in Excess MSRs and Servicer Advances, respectively, was serviced or master serviced by Nationstar. As of September 30, 2016 , a total face amount of $4.1 billion of New Residential’s Non-Agency RMBS portfolio and approximately $28.5 million of New Residential’s Agency RMBS portfolio was serviced or master serviced by Nationstar. The total UPB of the loans underlying these Nationstar serviced Non-Agency RMBS was approximately $14.2 billion as of September 30, 2016 . New Residential holds a limited right to cleanup call options with respect to certain securitization trusts serviced or master serviced by Nationstar whereby, when the outstanding balance of the underlying mortgage loans falls below a pre-determined threshold, it can effectively purchase the underlying mortgage loans at par, plus unreimbursed servicer advances, resulting in the repayment of all of the outstanding securitization financing at par, in exchange for a fee of 0.75% of UPB paid to Nationstar at the time of exercise. In connection with New Residential’s exercise of certain of these call rights, and certain other call rights acquired by New Residential in connection with the SLS Transaction, in 2014 and 2015, New Residential has made, and expects to continue to make, payments to funds managed by an affiliate of Fortress in respect of Excess MSRs held by the funds affected by the exercise of the call rights (“MSR Fund Payments”). During 2016, New Residential accrued for MSR Fund Payments in an aggregate amount of approximately $0.3 million . New Residential continues to evaluate the call rights it purchased from Nationstar, and its ability to exercise such rights and realize the benefits therefrom are subject to a number of risks. The actual UPB of the mortgage loans on which New Residential can successfully exercise call rights and realize the benefits therefrom may differ materially from its initial assumptions. As of September 30, 2016 , $534.7 million UPB of New Residential’s residential mortgage loans and $28.3 million of New Residential’s REO were being serviced or master serviced by Nationstar. Additionally, in the ordinary course of business, New Residential engages Nationstar to administer the termination of securitization trusts that it collapses pursuant to its call rights. As a result of these relationships, New Residential routinely has receivables from, and payables to, Nationstar, which are included in Other Assets and Accrued Expenses and Other Liabilities, respectively. See Notes 1 and 9 for a discussion of a transaction with OneMain and Note 5 regarding co-investments with Fortress-managed funds.

RECLASSIFICATION FROM ACCUMULAT

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
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 Income Components Statement of Income Location Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Reclassification of net realized (gain) loss on securities into earnings Gain on settlement of investments, net $ 679 $ (24,454 ) $ (15,072 ) $ (31,230 ) Reclassification of net realized (gain) loss on securities into earnings Other-than-temporary impairment on securities 1,765 1,574 7,838 3,294 Total reclassifications $ 2,444 $ (22,880 ) $ (7,234 ) $ (27,936 ) New Residential did not allocate any income tax expense or benefit to any component of other comprehensive income for any period presented, as no taxable subsidiary generated other comprehensive income.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense (benefit) consists of the following: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Current: Federal $ 3,290 $ 505 $ 4,561 $ 1,135 State and Local 478 (982 ) 636 (2,073 ) Total Current Income Tax Expense (Benefit) 3,768 (477 ) 5,197 (938 ) Deferred: Federal 16,375 (3,193 ) 12,575 8,764 State and Local 757 (2,262 ) 423 (2,879 ) Total Deferred Income Tax Expense (Benefit) 17,132 (5,455 ) 12,998 5,885 Total Income Tax Expense (Benefit) $ 20,900 $ (5,932 ) $ 18,195 $ 4,947 New Residential intends to qualify as a REIT for each of its tax years through December 31, 2016 . 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 operates various securitization vehicles and has made certain investments, particularly its investments in Servicer Advances (Note 6) and REO (Note 8), through taxable REIT subsidiaries (“TRSs”) that are subject to regular corporate income taxes which have been provided for in the provision for income taxes, as applicable. 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 has recorded a net deferred tax asset of approximately $172.5 million as of September 30, 2016 , primarily related to basis differences in all servicer advances held by New Residential’s TRSs and related net operating loss carry forwards. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible. As of September 30, 2016 , New Residential recorded a partial valuation allowance related to certain net operating losses and loan loss reserves as management does not believe that it is more likely than not that these deferred tax assets will be realized.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS These financial statements include a discussion of material events that have occurred subsequent to September 30, 2016 (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. Corporate Activities On September 23 , 2016, New Residential’s Board of Directors declared a third quarter 2016 dividend of $0.46 per common share or $115.4 million , which was paid on October 28, 2016 to stockholders of record as of October 3, 2016 . In October 2016, New Residential entered into a $345.0 million corporate loan secured by Non-Agency Excess MSRs. The loan bears interest equal to 5.68% and matures in July 2021. In October 2016, the Consumer Loan Companies, 53.5% owned and consolidated by New Residential, refinanced their outstanding asset-backed notes with a new asset-backed securitization. The issuance consisted of $1.7 billion of asset-backed notes comprised of six classes with maturity dates in November 2023 and March 2024, of which approximately $157.6 million was voluntarily retained by the Consumer Loan Companies. As a result, the Consumer Loan Companies will record approximately $4.7 million of loss on extinguishment of debt related to an unamortized discount. See Note 9 for a subsequent event related to the purchase of consumer loans. Servicer Advances Debt In October 2016, New Residential, through its wholly owned subsidiary, NRZ Advance Receivables Trust 2015-ON1, issued servicer advance backed notes consisting of $500.0 million and $400.0 million of series 2016-T2 and series T3 term notes with maturity dates of October 2019 and October 2021, respectively, and repaid a portion of the existing VFN facility with the proceeds. Walter Transaction On August 8, 2016, New Residential Mortgage LLC (“NRM”), a Delaware limited liability company and a wholly-owned subsidiary of New Residential, entered into a flow and bulk agreement for the purchase and sale of mortgage servicing rights (the “Walter Purchase Agreement”) with Ditech Financial LLC (“Ditech”), a subsidiary of Walter Investment Management Corp. Pursuant to the Walter Purchase Agreement, NRM agreed to (i) purchase the MSRs and related servicing advances with respect to approximately 254,531 existing Fannie Mae residential mortgage loans with a total unpaid principal balance of approximately $32.3 billion (the “Existing MSRs”) for an aggregate purchase price of approximately $240.0 million in cash, including $28.1 million of servicing advances, subject to certain adjustments set forth in the Walter Purchase Agreement, and (ii) provide ongoing daily pricing to Ditech for the purchase of MSRs from Ditech relating to new mortgage loans originated or purchased by Ditech on a flow basis and pooled into Fannie Mae, Freddie Mac or, if applicable, Ginnie Mae (collectively, the “Agencies”) securities (the “Flow MSRs”). The purchase of the Existing MSRs closed on October 3, 2016. The initial term of the Walter Purchase Agreement is three years, with annual, one -year renewals thereafter, subject to certain termination rights; provided, that, NRM may decline to provide pricing for Flow MSRs on any day and may terminate the Walter Purchase Agreement with respect to Flow MSRs on 30 days’ notice. The purchase of the Existing MSRs and any Flow MSRs are subject to, among other customary conditions, the approval of the applicable Agencies, all of which were obtained for the Existing MSRs purchased. Ditech will initially service the mortgage loans related to the Existing MSRs and the Flow MSRs pursuant to the Subservicing Agreement referred to below. On August 8, 2016, in connection with the Walter Purchase Agreement, Walter Investment Management Corp. (with its applicable subsidiaries, including Ditech, “Walter”), a Maryland corporation and the parent of Ditech, provided NRM with a payment and performance guaranty (the “Guaranty”) of Ditech’s obligations, including repurchase and indemnification obligations, under the Walter Purchase Agreement. On August 8, 2016, in connection with the Walter Purchase Agreement, NRM and Ditech entered into a subservicing agreement (the “Subservicing Agreement”), pursuant to which Ditech agreed to act as subservicer for NRM and perform all of the actual servicing activities (“subservicing”) required under the servicing agreements relating to the Existing MSRs, any Flow MSRs purchased by NRM under the Walter Purchase Agreement and certain other MSRs that may be acquired in the future by NRM. Under the Subservicing Agreement and related documents, Ditech will perform all daily servicing obligations on behalf of NRM, including collecting payments from borrowers and offering refinancing options to borrowers for purposes of minimizing portfolio runoff. Ditech agreed to perform subservicing on behalf of NRM at fixed prices set forth in the Subservicing Agreement for an initial term of one year, with annual, one -year renewals thereafter, subject to certain termination rights set forth in the Subservicing Agreement. With respect to NRM, the initial term of the Subservicing Agreement will expire on the first anniversary of the effective date and shall automatically terminate unless renewed on a month-by-month basis, subject to certain termination rights set forth in the Subservicing Agreement. NRM is responsible for all advance obligations related to the Existing MSRs and Flow MSRs. Based on the terms of the Subservicing Agreement, the estimated weighted average subservicing rate for the life of the Existing MSRs is 7.7 bps. In addition, on August 8, 2016, New Residential entered into a “recapture agreement” with respect to the MSRs subserviced by Ditech. Under the recapture agreement, New Residential is entitled to the MSRs on any initial or subsequent refinancing by Ditech of a loan underlying the Existing MSRs or Flow MSRs. WCO Transaction NRM, Walter and Walter Capital Opportunity, LP have agreed in principle for the purchase and sale of substantially all of the assets of Walter Capital Opportunity, LP and its subsidiaries (“WCO”), along with certain related assets owned by Walter, which, collectively, represent an estimated $34.2 billion UPB of MSRs and $40.8 million of servicing advances, for an aggregate purchase price of approximately $299.9 million . The transaction, which is subject to negotiation and execution of definitive documentation, regulatory approval and approval from the applicable Agencies, is expected to contain similar general terms, including term, representations and warranties, covenants and indemnification, and be subject to similar conditions precedent, such as regulatory and Agency approvals, as the Walter Purchase Agreement described above, as well as additional terms and conditions customary for a transaction of this type. There can be no assurance that definitive documentation will be entered into on the terms described herein, or at all, or that the required regulatory or Agency approvals will be obtained. Upon acquisition of the assets in the WCO transaction, New Residential expects that Ditech will subservice the related mortgage loans for NRM under the Subservicing Agreement described above.

ORGANIZATION AND BASIS OF PRE26

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting	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 note 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 condensed consolidated financial statements should be read in conjunction with New Residential’s consolidated financial statements for the year ended December 31, 2015 and notes thereto included in New Residential’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”). Capitalized terms used herein, and not otherwise defined, are defined in New Residential’s consolidated financial statements for the year ended December 31, 2015 . Certain prior period amounts have been reclassified to conform to the current period’s presentation.
Recent Accounting Pronouncements	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 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 effect, companies will be required to exercise further judgment and make more estimates prospectively. 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. ASU No. 2014-09 is effective for New Residential in the first quarter of 2018. Early adoption is only permitted after December 31, 2016. Entities have the option of using either a full retrospective or a modified approach to adopt the guidance in ASU No. 2014-09. New Residential is currently evaluating the new guidance to determine the impact it may have on its condensed 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. ASU No. 2014-15 is effective for New Residential for the annual period ending on December 31, 2016. Early adoption was permitted. New Residential is currently evaluating the new guidance to determine the impact that it may have on its condensed consolidated financial statements. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. The standard: (i) requires that certain equity investments be measured at fair value, and modifies the assessment of impairment for certain other equity investments, (ii) changes certain disclosure requirements related to the fair value of financial instruments measured at amortized cost, (iii) changes certain disclosure requirements related to liabilities measured at fair value, (iv) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset, and (v) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets. ASU No. 2016-01 is effective for New Residential in the first quarter of 2018. Early adoption is generally not permitted. An entity should apply ASU No. 2016-01 by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. New Residential is currently evaluating the new guidance to determine the impact it may have on its condensed consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments . The standard requires that a financial asset measured at amortized cost basis be presented at the net amount expected to be collected, net of an allowance for all expected (rather than incurred) credit losses. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectibility of the reported amount. The standard also changes the accounting for purchased credit deteriorated (“PCD”) assets and available-for-sale securities to align with this treatment. ASU No. 2016-13 is effective for New Residential in the first quarter of 2020. Early adoption is permitted beginning in 2019. An entity should apply ASU No. 2016-13 by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. New Residential is currently evaluating the new guidance to determine the impact it may have on its condensed consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230) - Classification of Certain Cash Receipts and Cash Payments. The standard provides guidance on the treatment of certain transactions within the statement of cash flows. ASU No. 2016-15 is effective for New Residential in the first quarter of 2018. Early adoption is permitted. New Residential adopted ASU No. 2016-15 in the third quarter of 2016 and it did not have an impact on its consolidated financial statements. In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740) - Intra-Entity Transfers of Assets Other Than Inventory . The standard requires recognition of the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. ASU No. 2016-16 is effective for New Residential in the first quarter of 2018. Early adoption is permitted as of the beginning of an annual reporting period for which financial statements have not been issued. New Residential does not expect the adoption of ASU No. 2016-16 to have a material impact on its consolidated financial statements. The FASB has recently issued or discussed a number of proposed standards on such topics as financial statement presentation, financial instruments, restricted cash 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.

ORGANIZATION AND BASIS OF PRE27

ORGANIZATION AND BASIS OF PRESENTATION (Tables)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Preliminary Purchase Price Allocation	The preliminary allocation of the total consideration, following reclassifications to conform to New Residential’s presentation, is as follows: Total Consideration ($ in millions) $ 237.5 Assets Consumer loans, held-for-investment $ 1,934.7 Cash and cash equivalents 0.3 Restricted cash 74.6 Other assets 35.9 Total Assets Acquired 2,045.5 Liabilities Notes and bonds payable $ 1,803.2 Accrued expenses and other liabilities 4.8 Total Liabilities Assumed 1,808.0 Net Assets $ 237.5
Summary of Unaudited Pro Forma Combined Interest Income and Income (Loss) Before Income Taxes	The following table presents New Residential’s unaudited pro forma combined Interest Income and Income Before Income Taxes for the three and nine months ended September 30, 2016 and 2015 prepared as if the SpringCastle Transaction had been consummated on January 1, 2015. Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 (unaudited) (unaudited) (unaudited) (unaudited) Pro Forma Interest Income $ 282,388 $ 276,720 $ 836,814 $ 739,490 Income Before Income Taxes 151,986 85,158 319,144 388,041 Noncontrolling Interests in Income of Consolidated Subsidiaries 32,178 27,523 79,944 77,870

OTHER INCOME, ASSETS AND LIAB28

OTHER INCOME, ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2016
Other Income Assets And Liabilities
Schedule of Other Income	Other income (loss), net, is comprised of the following: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Unrealized gain (loss) on derivative instruments $ 26,962 $ (9,166 ) $ (8,504 ) $ (17,425 ) Unrealized gain (loss) on other ABS 724 (706 ) (226 ) (1,073 ) Gain (loss) on transfer of loans to REO 4,373 1,272 14,660 1,075 Gain (loss) on transfer of loans to other assets 2,743 314 3,021 143 Gain on Excess MSR recapture agreements 768 669 2,188 2,247 Other income (loss) (2,597 ) 6,069 2,319 5,001 $ 32,973 $ (1,548 ) $ 13,458 $ (10,032 )
Schedule of Gain (Loss) on Settlement of Investments	Gain (loss) on settlement of investments, net is comprised of the following: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Gain (loss) on sale of real estate securities, net $ (679 ) $ 24,454 $ 15,072 $ 31,230 Gain (loss) on sale of residential mortgage loans, net 8,537 226 9,142 31,808 Gain (loss) on settlement of derivatives (24,839 ) (44,479 ) (70,307 ) (53,300 ) Gain (loss) on liquidated residential mortgage loans (1,331 ) 246 (1,603 ) 492 Gain (loss) on sale of REO 2,207 (1,914 ) 5,193 (9,751 ) Other gains (losses) (974 ) (15 ) (1,787 ) (5,993 ) $ (17,079 ) $ (21,482 ) $ (44,290 ) $ (5,514 )
Schedule of Other Assets and Liabilities	Other assets and liabilities are comprised of the following: Other Assets Accrued Expenses and Other Liabilities September 30, 2016 December 31, 2015 September 30, 2016 December 31, 2015 Margin receivable, net $ 52,471 $ 54,459 Interest payable $ 17,965 $ 18,268 Other receivables 6,984 5,829 Accounts payable 33,727 18,650 Principal paydown receivable 1,834 795 Derivative liabilities (Note 10) 24,085 13,443 Receivable from government agency 63,204 68,833 Current taxes payable 3,678 1,573 Call rights 414 414 Due to servicers 8,975 — Derivative assets (Note 10) 2,088 2,689 Other liabilities 5,026 6,112 Interest receivable 53,964 36,963 $ 93,456 $ 58,046 Ginnie Mae EBO servicer advance receivable, net 17,924 49,725 Due from servicers 17,788 5,064 Other assets 20,188 14,675 $ 236,859 $ 239,446
Schedule of Accretion 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 2016 2015 Accretion of servicer advance interest income $ 257,877 $ 256,045 Accretion of excess mortgage servicing rights income 106,848 87,874 Accretion of net discount on securities and loans (A) 164,806 35,239 Amortization of deferred financing costs (13,889 ) (18,691 ) Amortization of discount on notes and bonds payable (1,120 ) — $ 514,522 $ 360,467 (A) Includes accretion of the accretable yield on PCD loans.

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Summary of Segment Financial Data	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, 2016 Interest income $ 30,617 $ 101,359 $ 58,855 $ 13,947 $ 77,231 $ 379 $ 282,388 Interest expense 4,002 54,802 13,008 6,153 18,523 — 96,488 Net interest income (expense) 26,615 46,557 45,847 7,794 58,708 379 185,900 Impairment — — 1,765 (291 ) 18,566 — 20,040 Other income (loss) (10,052 ) 21,430 1,392 13,931 — — 26,701 Operating expenses 536 1,029 369 4,251 11,976 22,414 40,575 Income (Loss) Before Income Taxes 16,027 66,958 45,105 17,765 28,166 (22,035 ) 151,986 Income tax expense (benefit) — 16,348 — 4,556 — (4 ) 20,900 Net Income (Loss) $ 16,027 $ 50,610 $ 45,105 $ 13,209 $ 28,166 $ (22,031 ) $ 131,086 Noncontrolling interests in income (loss) of consolidated subsidiaries $ — $ 18,853 $ — $ — $ 13,325 $ — $ 32,178 Net income (loss) attributable to common stockholders $ 16,027 $ 31,757 $ 45,105 $ 13,209 $ 14,841 $ (22,031 ) $ 98,908 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, 2016 Interest income $ 106,848 $ 265,119 $ 172,982 $ 47,712 $ 155,541 $ 1,699 $ 749,901 Interest expense 12,117 176,672 31,425 20,447 37,740 — 278,401 Net interest income (expense) 94,731 88,447 141,557 27,265 117,801 1,699 471,500 Impairment — — 7,838 7,309 34,536 — 49,683 Other income (loss) (14,234 ) 9,103 (59,472 ) 22,295 81,193 15 38,900 Operating expenses 1,066 3,076 1,307 11,194 26,194 59,034 101,871 Income (Loss) Before Income Taxes 79,431 94,474 72,940 31,057 138,264 (57,320 ) 358,846 Income tax expense (benefit) — 13,743 — 4,377 75 — 18,195 Net Income (Loss) $ 79,431 $ 80,731 $ 72,940 $ 26,680 $ 138,189 $ (57,320 ) $ 340,651 Noncontrolling interests in income (loss) of consolidated subsidiaries $ — $ 33,400 $ — $ — $ 27,955 $ — $ 61,355 Net income (loss) attributable to common stockholders $ 79,431 $ 47,331 $ 72,940 $ 26,680 $ 110,234 $ (57,320 ) $ 279,296 Servicing Related Assets Residential Securities and Loans Excess MSRs Servicer Advances Real Estate Securities Real Estate Loans Consumer Loans Corporate Total September 30, 2016 Investments $ 1,599,956 $ 6,294,697 $ 4,739,914 $ 765,940 $ 1,821,979 $ — $ 15,222,486 Cash and cash equivalents 5,377 134,000 1,305 3,736 15,022 229,234 388,674 Restricted cash 2,406 90,899 — — 59,822 — 153,127 Other assets 2,557 181,521 1,578,722 108,359 48,533 20,403 1,940,095 Total assets $ 1,610,296 $ 6,701,117 $ 6,319,941 $ 878,035 $ 1,945,356 $ 249,637 $ 17,704,382 Debt $ 268,290 $ 6,210,358 $ 3,924,111 $ 653,197 $ 1,707,197 $ — $ 12,763,153 Other liabilities 1,962 28,616 1,326,013 20,608 5,519 141,000 1,523,718 Total liabilities 270,252 6,238,974 5,250,124 673,805 1,712,716 141,000 14,286,871 Total equity 1,340,044 462,143 1,069,817 204,230 232,640 108,637 3,417,511 Noncontrolling interests in equity of consolidated subsidiaries — 182,094 — — 107,067 — 289,161 Total New Residential stockholders’ equity $ 1,340,044 $ 280,049 $ 1,069,817 $ 204,230 $ 125,573 $ 108,637 $ 3,128,350 Investments in equity method investees $ 195,904 $ — $ — $ — $ — $ — $ 195,904 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, 2015 Interest income $ 38,477 $ 105,135 $ 28,984 $ 8,888 $ — $ 857 $ 182,341 Interest expense 2,936 64,291 5,150 4,651 530 — 77,558 Net interest income (expense) 35,541 40,844 23,834 4,237 (530 ) 857 104,783 Impairment — — 1,574 (3,341 ) — — (1,767 ) Other income (loss) 10,227 (12,554 ) (28,354 ) (1,530 ) 14,386 — (17,825 ) Operating expenses 168 10,341 766 2,845 66 18,716 32,902 Income (Loss) Before Income Taxes 45,600 17,949 (6,860 ) 3,203 13,790 (17,859 ) 55,823 Income tax expense (benefit) — (4,852 ) — (1,405 ) 325 — (5,932 ) Net Income (Loss) $ 45,600 $ 22,801 $ (6,860 ) $ 4,608 $ 13,465 $ (17,859 ) $ 61,755 Noncontrolling interests in income (loss) of consolidated subsidiaries $ — $ 7,193 $ — $ — $ — $ — $ 7,193 Net income (loss) attributable to common stockholders $ 45,600 $ 15,608 $ (6,860 ) $ 4,608 $ 13,465 $ (17,859 ) $ 54,562 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, 2015 Interest income $ 87,874 $ 256,087 $ 66,699 $ 32,408 $ 1 $ 1,822 $ 444,891 Interest expense 8,681 151,377 12,171 15,929 1,054 4,196 193,408 Net interest income (expense) 79,193 104,710 54,528 16,479 (1,053 ) (2,374 ) 251,483 Impairment — — 3,294 2,408 — — 5,702 Other income (loss) 18,415 835 (37,655 ) 20,063 33,342 (2,880 ) 32,120 Operating expenses 517 12,604 769 14,557 177 61,500 90,124 Income (Loss) Before Income Taxes 97,091 92,941 12,810 19,577 32,112 (66,754 ) 187,777 Income tax expense (benefit) — 7,565 — (2,942 ) 324 — 4,947 Net Income (Loss) $ 97,091 $ 85,376 $ 12,810 $ 22,519 $ 31,788 $ (66,754 ) $ 182,830 Noncontrolling interests in income (loss) of consolidated subsidiaries $ — $ 22,332 $ — $ — $ — $ (5,158 ) $ 17,174 Net income (loss) attributable to common stockholders $ 97,091 $ 63,044 $ 12,810 $ 22,519 $ 31,788 $ (61,596 ) $ 165,656

INVESTMENTS IN EXCESS MORTGAG30

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS (Tables)	9 Months Ended
	Sep. 30, 2016
Transfers and Servicing [Abstract]
Schedule of Activity Related to the Carrying Value of Investments in Excess MSRs	The following table presents activity related to the carrying value of New Residential’s investments in Excess MSRs: Servicer Nationstar SLS (A) Ocwen (B) Total Balance as of December 31, 2015 $ 698,304 $ 5,307 $ 877,906 $ 1,581,517 Purchases — — — — Interest income 47,049 (16 ) 59,815 106,848 Other income 2,188 — — 2,188 Proceeds from repayments (111,999 ) (796 ) (149,309 ) (262,104 ) Change in fair value (9,521 ) (86 ) (14,790 ) (24,397 ) Balance as of September 30, 2016 $ 626,021 $ 4,409 $ 773,622 $ 1,404,052 (A) Specialized Loan Servicing LLC (“SLS”). (B) Ocwen Loan Servicing LLC, a subsidiary of Ocwen Financial Corporation (together with its subsidiaries, including Ocwen Loan Servicing LLC, “Ocwen”), services the loans underlying the Excess MSRs and Servicer Advances acquired from HLSS.
Summary of Direct Investments in Excess MSRs	The following is a summary of New Residential’s direct investments in Excess MSRs: September 30, 2016 December 31, 2015 UPB of Underlying Mortgages Interest in Excess MSR Weighted Average Life Years (A) Amortized Cost Basis (B) Carrying Value (C) Carrying Value (C) New Residential (D) Fortress-managed funds Nationstar Agency Original and Recaptured Pools $ 82,159,586 32.5% - 66.7% (53.3%) 0.0% - 40.0% 20.0% - 35.0% 5.9 $ 302,541 $ 333,816 $ 378,083 Recapture Agreements — 32.5% - 66.7% (53.3%) 0.0% - 40.0% 20.0% - 35.0% 11.9 28,417 54,948 59,118 82,159,586 6.4 330,958 388,764 437,201 Non-Agency (E) Nationstar and SLS Serviced: Original and Recaptured Pools $ 82,010,764 33.3% - 80.0% (59.3%) 0.0% - 50.0% 0.0% - 33.3% 5.3 $ 190,184 $ 227,883 $ 250,662 Recapture Agreements — 33.3% - 80.0% (59.3%) 0.0% - 50.0% 0.0% - 33.3% 12.1 12,210 13,783 15,748 Ocwen Serviced Pools 126,120,662 100.0% — % — % 6.4 746,933 773,622 877,906 208,131,426 6.3 949,327 1,015,288 1,144,316 Total $ 290,291,012 6.3 $ 1,280,285 $ 1,404,052 $ 1,581,517 (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) Amounts in parentheses represent weighted averages. (E) New Residential also invested in the related Servicer Advances, including the basic fee component of the related MSR as of September 30, 2016 (Note 6) on $194.2 billion UPB underlying these Excess MSRs. Changes in fair value recorded in other income are comprised of the following: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Original and Recaptured Pools $ (15,395 ) $ 1,485 $ (28,392 ) $ (3,933 ) Recapture Agreements (1,665 ) (354 ) 3,995 3,659 $ (17,060 ) $ 1,131 $ (24,397 ) $ (274 )
Summary of the Geographic Distribution of the Underlying Residential Mortgage Loans of the Direct Investments 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 September 30, 2016 December 31, 2015 California 26.4 % 26.7 % Florida 8.8 % 8.9 % New York 8.1 % 7.8 % Texas 4.2 % 4.3 % New Jersey 4.1 % 4.1 % Maryland 3.8 % 3.8 % Illinois 3.4 % 3.4 % Virginia 3.1 % 3.1 % Massachusetts 2.7 % 2.7 % Washington 2.6 % 2.7 % Other U.S. 32.8 % 32.5 % 100.0 % 100.0 %

INVESTMENTS IN EXCESS MORTGAG31

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES (Tables)	9 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Summary of the Financial Results of Excess MSR Joint Ventures, Accounted for as 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, 2016 December 31, 2015 Excess MSR assets $ 374,962 $ 421,999 Other assets 16,846 12,442 Other liabilities — — Equity $ 391,808 $ 434,441 New Residential’s investment $ 195,904 $ 217,221 New Residential’s ownership 50.0 % 50.0 % Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Interest income $ 12,205 $ 12,399 $ 24,526 $ 33,316 Other income (loss) 339 4,492 (7,244 ) (348 ) Expenses (22 ) (38 ) (66 ) (82 ) Net income $ 12,522 $ 16,853 $ 17,216 $ 32,886 New Residential’s investments in equity method investees changed during the nine months ended September 30, 2016 as follows: Balance at December 31, 2015 $ 217,221 Contributions to equity method investees — Distributions of earnings from equity method investees (18,025 ) Distributions of capital from equity method investees (11,900 ) Change in fair value of investments in equity method investees 8,608 Balance at September 30, 2016 $ 195,904
Summary of Excess MSR 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, 2016 Unpaid Principal Balance Investee Interest in Excess MSR (A) New Residential Interest in Investees Amortized Cost Basis (B) Carrying Value (C) Weighted Average Life (Years) (D) Agency Original and Recaptured Pools $ 63,834,062 66.7 % 50.0 % $ 249,388 $ 314,265 5.7 Recapture Agreements — 66.7 % 50.0 % 33,156 60,697 11.7 Total $ 63,834,062 $ 282,544 $ 374,962 6.4 (A) The remaining interests are held by Nationstar. (B) 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. (C) 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. (D) The weighted average life represents the weighted average expected timing of the receipt of cash flows of each investment.
Summary of the Geographic Distribution of the Underlying Residential Mortgage Loans of the Excess MSR Investments 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 September 30, 2016 December 31, 2015 California 12.8 % 12.9 % Florida 7.3 % 7.4 % Texas 6.1 % 6.1 % New York 6.0 % 5.8 % Georgia 5.7 % 5.7 % New Jersey 4.2 % 4.3 % Illinois 4.1 % 4.0 % Maryland 3.3 % 3.2 % Virginia 3.2 % 3.2 % Pennsylvania 3.2 % 3.1 % Other U.S. 44.1 % 44.3 % 100.0 % 100.0 %

INVESTMENTS IN SERVICER ADVAN32

INVESTMENTS IN SERVICER ADVANCES (Tables)	9 Months Ended
	Sep. 30, 2016
Investments, All Other Investments [Abstract]
Summary of Investments 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: Amortized Cost Basis Carrying Value (A) Weighted Average Discount Rate Weighted Average Yield Weighted Average Life (Years) (B) September 30, 2016 Servicer Advances (C) $ 6,012,315 $ 6,043,369 5.4 % 5.3 % 4.5 As of December 31, 2015 Servicer Advances (C) $ 7,400,068 $ 7,426,794 5.6 % 5.5 % 4.4 (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. (C) Excludes New Residential asset-backed securities collateralized by Servicer Advances, which have aggregate face amounts of $249.0 million and $431.0 million and aggregate carrying values of $250.7 million and $430.3 million as of September 30, 2016 and December 31, 2015 , respectively. See Note 7 for details related to these securities. Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Changes in Fair Value Recorded in Other Income $ 21,606 $ (18,738 ) $ 4,328 $ (1,845 ) The following is additional information regarding the Servicer Advances and related financing: Loan-to-Value (A) Cost of Funds (C) UPB of Underlying Residential Mortgage Loans Outstanding Servicer Advances Servicer Advances to UPB of Underlying Residential Mortgage Loans Face Amount of Notes and Bonds Payable Gross Net (B) Gross Net September 30, 2016 Servicer Advances (D) $ 194,223,701 $ 6,017,968 3.1 % $ 5,907,803 94.5 % 93.3 % 3.5 % 2.8 % December 31, 2015 Servicer Advances (D) $ 220,256,804 $ 7,578,110 3.4 % $ 7,058,094 91.2 % 90.2 % 3.4 % 2.6 % (A) Based on outstanding Servicer Advances, excluding purchased but unsettled Servicer Advances and certain deferred servicing fees (“DSF”) on which New Residential receives financing. If New Residential were to include these DSF in the servicer advance balance, gross and net LTV as of September 30, 2016 would be 89.7% and 88.6% , respectively. Also excludes retained non-agency bonds with a current face amount of $110.1 million from the outstanding Servicer Advances debt. If New Residential were to sell these bonds, gross and net LTV as of September 30, 2016 would be 96.3% and 95.1% , respectively. (B) Ratio of face amount of borrowings to par amount of servicer advance collateral, net of any general reserve. (C) 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. (D) The following types of advances comprise the investments in Servicer Advances: September 30, 2016 December 31, 2015 Principal and interest advances $ 1,651,576 $ 2,229,468 Escrow advances (taxes and insurance advances) 2,786,203 3,687,559 Foreclosure advances 1,580,189 1,661,083 Total $ 6,017,968 $ 7,578,110
Schedule of Interest Income Related to Investments in 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 2016 2015 2016 2015 Interest income, gross of amounts attributable to servicer compensation $ 161,601 $ 221,613 $ 581,231 $ 511,931 Amounts attributable to base servicer compensation (15,276 ) (26,553 ) (68,184 ) (65,111 ) Amounts attributable to incentive servicer compensation (45,197 ) (89,952 ) (255,170 ) (190,775 ) Interest income from investments in Servicer Advances $ 101,128 $ 105,108 $ 257,877 $ 256,045 New Residential has determined that the Buyer is a VIE. The following table presents information on the assets and liabilities related to this consolidated VIE. As of September 30, 2016 December 31, 2015 Assets Servicer advance investments, at fair value $ 1,903,067 $ 2,344,245 Cash and cash equivalents 35,000 40,761 All other assets 22,229 25,092 Total assets (A) $ 1,960,296 $ 2,410,098 Liabilities Notes and bonds payable $ 1,625,956 $ 2,060,347 All other liabilities 6,119 6,111 Total liabilities (A) $ 1,632,075 $ 2,066,458 (A) The creditors of the Buyer do not have recourse to the general credit of New Residential and the assets of the Buyer are not directly available to satisfy New Residential’s obligations. Others’ interests in the equity of the Buyer is computed as follows: September 30, 2016 December 31, 2015 Total Advance Purchaser LLC equity $ 328,221 $ 343,640 Others’ ownership interest 55.5 % 55.5 % Others’ interest in equity of consolidated subsidiary $ 182,094 $ 190,647 Others’ interests in the Buyer’s net income is computed as follows: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Net Advance Purchaser LLC income $ 33,985 $ 12,960 $ 60,207 $ 40,258 Others’ ownership interest as a percent of total (A) 55.5 % 55.5 % 55.5 % 55.5 % Others’ interest in net income of consolidated subsidiaries $ 18,853 $ 7,193 $ 33,400 $ 22,332 (A) As a result, New Residential owned 44.5% and 44.5% of the Buyer, on average during the three months ended September 30, 2016 and 2015 , respectively, and 44.5% and 44.5% of the Buyer, on average during the nine months ended September 30, 2016 and 2015 , respectively.

INVESTMENTS IN REAL ESTATE SE33

INVESTMENTS IN REAL ESTATE SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Summary of Real Estate Securities	Activities related to New Residential’s investments in real estate securities were as follows: Nine Months Ended (in millions) Agency Non Agency Purchases Face $ 5,070.3 $ 4,079.9 Purchase Price $ 5,315.9 $ 2,298.4 Sales Face $ 4,530.6 $ 129.8 Amortized Cost $ 4,721.8 $ 121.7 Sale Price $ 4,757.8 $ 100.8 Gain (Loss) on Sale $ 36.0 $ (20.9 ) The following is a summary of New Residential’s real estate securities, 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 and except for securities which New Residential elected to carry at fair value and record changes to valuation through the income statement. September 30, 2016 December 31, 2015 Gross Unrealized Weighted Average Asset Type Outstanding Face Amount Amortized Cost Basis Gains Losses Carrying Value (A) Number of Securities Rating (B) Coupon (C) Yield Life (Years) (D) Principal Subordination (E) Carrying Value Agency RMBS (F) (G) $ 1,356,580 $ 1,437,777 $ 337 $ (3,806 ) $ 1,434,308 76 AAA 3.42 % 2.79 % 5.6 N/A $ 917,598 Non-Agency RMBS (H) (I) 6,671,272 3,446,822 122,171 (12,059 ) 3,556,934 471 CCC- 1.76 % 5.46 % 7.0 10.8 % 1,584,283 Total/ Weighted Average $ 8,027,852 $ 4,884,599 $ 122,508 $ (15,865 ) $ 4,991,242 547 CCC+ 2.21 % 4.68 % 6.6 $ 2,501,881 (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 187 bonds with a carrying value of $566.9 million which either have never been rated or for which rating information is no longer provided. 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) Excludes residual bonds, and certain other Non-Agency bonds, with a carrying value of $243.5 million and $0.0 million , respectively, for which no coupon payment is expected. (D) The weighted average life is based on the timing of expected principal reduction on the assets. (E) Percentage of the amortized cost basis of securities that is subordinate to New Residential’s investments, excluding interest-only bonds and servicer advance bonds. (F) Includes securities issued or guaranteed by U.S. Government agencies such as Fannie Mae or Freddie Mac. (G) The total outstanding face amount was $1.2 billion for fixed rate securities and $151.9 million for floating rate securities as of September 30, 2016 . (H) The total outstanding face amount was $1.1 billion (including $0.3 billion of residual and interest-only notional amount) for fixed rate securities and $5.6 billion (including $2.0 billion of residual and interest-only notional amount) for floating rate securities as of September 30, 2016 . (I) Includes other ABS consisting primarily of (i) interest-only securities which New Residential elected to carry at fair value and record changes to valuation through the income statement and (ii) bonds backed by servicer advances. Gross Unrealized Weighted Average Asset Type Outstanding Face Amount Amortized Cost Basis Gains Losses Carrying Value Number of Securities Rating Coupon Yield Life (Years) Principal Subordination Other ABS $ 1,975,404 $ 110,267 $ 6,048 $ (4,927 ) $ 111,388 25 AA+ 1.91 % 5.57 % 2.9 N/A Servicer Advance Bonds $ 249,000 $ 248,696 $ 2,025 $ — $ 250,721 3 AAA 2.81 % 2.21 % 0.1 N/A
Summary 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, 2016 . Amortized Cost Basis Weighted Average Securities in an Unrealized Loss Position Outstanding Face Amount Before Impairment Other-Than- Temporary Impairment (A) After Impairment Gross Unrealized Losses Carrying Value Number of Securities Rating (B) Coupon Yield Life (Years) Less than 12 Months $ 2,905,125 $ 1,723,246 $ (804 ) $ 1,722,442 $ (11,824 ) $ 1,710,618 204 B+ 2.51 % 3.99 % 6.5 12 or More Months 291,088 229,368 (961 ) 228,407 (4,041 ) 224,366 36 B+ 2.30 % 2.99 % 5.2 Total/Weighted Average $ 3,196,213 $ 1,952,614 $ (1,765 ) $ 1,950,849 $ (15,865 ) $ 1,934,984 240 B+ 2.48 % 3.87 % 6.4 (A) This amount represents OTTI recorded on securities that are in an unrealized loss position as of September 30, 2016 . (B) The weighted average rating of securities in an unrealized loss position for less than 12 months excludes the rating of 84 bonds which either have never been rated or for which rating information is no longer provided. The weighted average rating of securities in an unrealized loss position for 12 or more months excludes the rating of 6 bonds which either have never been rated or for which rating information is no longer provided. 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, 2016 Gross 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 required to sell (D) — — — N/A Securities New Residential has no intent to sell and is not more likely than not to be required to sell: Credit impaired securities 365,403 367,904 (1,765 ) (2,501 ) Non-credit impaired securities 1,569,581 1,582,945 — (13,364 ) Total debt securities in an unrealized loss position $ 1,934,984 $ 1,950,849 $ (1,765 ) $ (15,865 ) (A) This amount is required to be recorded as OTTI through earnings. In measuring the portion of credit losses, New Residential 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 New Residential’s expectations of prepayment rates, 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 no t have unrealized losses reflected in other comprehensive income as of September 30, 2016 . (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.
Summary of Activity Related to Credit Losses on Debt Securities	The following table summarizes the activity related to credit losses on debt securities: Nine Months Ended September 30, 2016 Beginning balance of credit losses on debt securities for which a portion of an OTTI was recognized in other comprehensive income $ 6,240 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 2,505 Additions for credit losses on securities for which an OTTI was not previously recognized 5,333 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 comprehensive income at the current measurement date — Reduction for securities sold during the period (997 ) Ending balance of credit losses on debt securities for which a portion of an OTTI was recognized in other comprehensive income $ 13,081
Summary of the Geographic Distribution of the Collateral Securing Non-Agency RMBS	The table below summarizes the geographic distribution of the collateral securing New Residential’s Non-Agency RMBS: September 30, 2016 December 31, 2015 Geographic Location (A) Outstanding Face Amount Percentage of Total Outstanding Outstanding Face Amount Percentage of Total Outstanding Western U.S. $ 2,329,116 36.3 % $ 1,097,609 35.3 % Southeastern U.S. 1,496,049 23.2 % 758,167 24.4 % Northeastern U.S. 1,318,153 20.5 % 583,366 18.8 % Midwestern U.S. 716,411 11.2 % 335,406 10.8 % Southwestern U.S. 500,795 7.8 % 309,236 10.0 % Other (B) 61,748 1.0 % 19,189 0.7 % $ 6,422,272 100.0 % $ 3,102,973 100.0 % (A) Excludes $249.0 million face amount of bonds backed by servicer advances. (B) Represents collateral for which New Residential was unable to obtain geographic information.
Schedule of the Outstanding Face Amount and Carrying Value for Securities Uncollectible	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, excluding residual and interest-only securities: Outstanding Face Amount Carrying Value September 30, 2016 $ 2,727,475 $ 1,754,467 December 31, 2015 873,763 504,659
Summary of Changes in Accretable Yield for Securities	The following is a summary of the changes in accretable yield for these securities: Nine Months Ended September 30, 2016 Balance at December 31, 2015 $ 316,521 Additions 802,442 Accretion (87,535 ) Reclassifications from (to) non-accretable difference 44,905 Disposals (1,129 ) Balance at September 30, 2016 $ 1,075,204

INVESTMENTS IN RESIDENTIAL MO34

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS (Tables)	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Schedule of Residential Mortgage Loans Outstanding by Loan Type, Excluding REO	The following table presents certain information regarding New Residential’s residential mortgage loans outstanding by loan type, excluding REO: September 30, 2016 December 31, 2015 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) Carrying Value Loan Type Reverse Mortgage Loans (E)(F) $ — $ — — — % — — % — % — % N/A $ 19,560 Performing Loans (G) (H) — — — — % — — % — % — % — 19,964 Purchased Credit Deteriorated Loans — — — — % — — % — % — % — 290,654 Total Residential Mortgage Loans, held-for-investment $ — $ — — — % — — % — % — % — $ 330,178 Reverse Mortgage Loans (E)(F) $ 23,878 $ 11,836 77 7.3 % 4.5 15.7 % 134.2 % 71.8 % N/A $ — Performing Loans (G) (H) (J) 103,234 107,167 1,750 4.1 % 4.2 4.6 % 75.2 % 10.4 % 610 277,084 Non-performing Loans (I) (J) 800,411 586,478 4,280 7.1 % 2.8 17.8 % 102.8 % 79.8 % 579 499,597 Total Residential Mortgage Loans, held-for-sale $ 927,523 $ 705,481 6,107 6.7 % 3.0 16.2 % 100.6 % 71.9 % 583 $ 776,681 (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. (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% participation interest that New Residential holds in a portfolio of reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.4 million . Approximately 66% of these loans have reached a termination event. As a result of the termination event, each such loan has matured and the borrower can no longer make draws on these loans. (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 where New Residential expects to collect all contractually required principal and interest payments. Presented net of unamortized premiums of $4.8 million . (H) Performing loans are generally placed on nonaccrual status when principal or interest is 120 days or more past due. (I) Includes loans with evidence of credit deterioration since origination where it is probable that New Residential will not collect all contractually required principal and interest payments. As of September 30, 2016 , New Residential has placed all of these loans on nonaccrual status, except as described in (J) below. (J) Includes $56.5 million and $99.2 million UPB of Ginnie Mae EBO performing and non-performing loans, respectively, on accrual status because contractual cash flows are guaranteed by the FHA.
Summary of the Geographic Distribution of the Underlying Residential Mortgage Loans	The table below summarizes the geographic distribution of the residential mortgage loans: Percentage of Total Outstanding Unpaid Principal Amount as of State Concentration September 30, 2016 December 31, 2015 New York 17.0 % 14.5 % New Jersey 10.4 % 13.1 % Florida 9.9 % 10.7 % California 8.5 % 12.3 % Texas 6.7 % 3.3 % Illinois 3.9 % 4.3 % Maryland 4.1 % 3.5 % Massachusetts 3.7 % 3.3 % Pennsylvania 3.1 % 2.8 % Washington 3.0 % 3.2 % Other U.S. 29.7 % 29.0 % 100.0 % 100.0 %
Schedule of Residential Mortgage Loan Transactions	The following table summarizes these transactions which occurred in 2016 (dollars in millions). Securities Owned Prior Assets Acquired Loans Sold (C) Retained Bonds Retained Assets (C) Date of Call (A) Number of Trusts Called Face Amount Amortized Cost Basis Loan UPB Loan Price (B) REO & Other Price (B) UPB Gain (Loss) Basis Type Loan UPB Loan Price REO & Other Price December 23, 2015 14 $ 61.4 $ 48.0 $ 309.1 $ 315.1 $ 3.1 $ 261.3 $ 2.2 $ 36.6 Various $ 35.8 $ 26.6 $ 2.9 March 25, 2016 13 58.4 41.0 167.2 173.3 3.1 N/A (C) N/A (C) N/A (C) N/A (C) 65.0 61.8 3.4 May 25, 2016 12 60.0 44.0 290.6 298.7 0.6 306.9 (3.5 ) 40.0 Various 85.9 78.2 1.1 August 25, 2016 11 6.2 1.4 312.3 319.2 1.7 308.0 8.1 45.7 Various 45.6 41.1 2.3 (A) Any related securitization may occur on the same or a subsequent date, depending on market conditions and other factors. Except as otherwise noted in (C) below, there was one securitization associated with each call. (B) Price includes par amount paid for all underlying mortgage loans of the trusts, plus the basis of the exercised call rights, plus advances and costs incurred (including MSR Fund Payments, as defined in Note 15) in exercising such call rights. (C) Loans were sold through a securitization which was treated as a sale for accounting purposes. Retained assets are reflected as of the date of the relevant securitization. The securitization that occurred in March 2016 primarily included loans from the December 23, 2015 call, but also included previously acquired loans. The retained assets disclosed for the December 23, 2015 call are net of the related loans sold in the March 2016 securitization. The securitization that occurred in May 2016 primarily included loans from the March 25, 2016 and May 25, 2016 calls. The retained assets disclosed for the March 25, 2016 call are net of the related loans sold in the May 2016 securitization. The securitization that occurred in September 2016 primarily included loans from the August 25, 2016 call, but also included $42.2 million of previously acquired loans.
Summary of Activities Related to the Carrying Value of Reverse Mortgage Loans and Performing Loans and PCD Loans Held-for-Investment	Activities related to the carrying value of PCD loans held-for-investment were as follows: Balance at December 31, 2015 $ 290,654 Purchases/additional fundings — Sales — Proceeds from repayments (8,897 ) Accretion of loan discount and other amortization 8,295 Transfer of loans to real estate owned (7,583 ) Transfer of loans to held-for-sale (282,469 ) Balance at September 30, 2016 $ — Activities related to the carrying value of residential mortgage loans held-for-investment were as follows: Reverse Mortgage Loans Performing Loans Balance at December 31, 2015 $ 19,560 $ 19,964 Purchases/additional fundings 319 — Proceeds from repayments (1,352 ) (811 ) Accretion of loan discount (premium) and other amortization (A) 2,002 123 Provision for loan losses (73 ) (4 ) Transfer of loans to other assets (B) (4,203 ) — Sales (1,795 ) — Transfer of loans to held-for-sale (C) (14,458 ) (19,272 ) Balance at September 30, 2016 $ — $ — (A) Includes accelerated accretion of discount on loans paid in full and on loans transferred to other assets. (B) Represents loans for which foreclosure has been completed during the nine months ended September 30, 2016 and for which New Residential has made, or intends to make, a claim with the governmental agency that has guaranteed the loans that are now recognized as claims receivable in Other Assets (Note 2). (C) Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff.
Summary of Activities Related to the Valuation Provision on Reverse Mortgage Loans and Allowance for Loan Losses on Performing Loans Held-for-Investment	Activities related to the valuation and loss provision on reverse mortgage loans and allowance for loan losses on performing loans held-for-investment were as follows: Reverse Mortgage Loans Performing Loans Balance at December 31, 2015 $ 1,553 $ 119 Provision for loan losses (A) 73 4 Charge-offs (B) — — Sales (171 ) — Transfer of loans to held-for-sale (C) (1,455 ) (123 ) Balance at September 30, 2016 $ — $ — (A) 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. (B) Loans, other than PCD 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. (C) Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff. Activities related to the allowance for loan losses on performing consumer loans, held-for-investment were as follows: Collectively Evaluated (A) Individually Impaired (B) Total Balance at March 31, 2016 $ — $ — $ — Provision for loan losses 31,382 1,039 32,421 Net charge-offs (C) (30,535 ) — (30,535 ) Balance at September 30, 2016 $ 847 $ 1,039 $ 1,886 (A) Represents smaller-balance homogeneous loans that are not individually considered impaired and are evaluated based on an analysis of collective borrower performance, key terms of the loans and historical and anticipated trends in defaults and loss severities, and consideration of the unamortized acquisition discount. Includes a provision for loan losses of $0.9 million for newly originated loans acquired during the three months ended September 30, 2016 . (B) Represents consumer loan modifications considered to be troubled debt restructurings (“TDRs”) as they provide concessions to borrowers, primarily in the form of interest rate reductions, who are experiencing financial difficulty. As of September 30, 2016 , there are $3.6 million in UPB and $2.5 million in carrying value of consumer loans classified as TDRs. (C) Consumer loans, other than PCD loans, are charged off when available information confirms that loans are uncollectible, which is generally when they become 180 days past due. Charge-offs are presented net of $5.6 million in recoveries of previously charged-off UPB.
Summary of Unpaid Principal Balance and Carrying Value for Loans Uncollectible	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, 2016 $ — $ — December 31, 2015 $ 450,229 $ 290,654
Summary of Changes in Accretable Yield	The following is a summary of the changes in accretable yield for these loans: Balance at December 31, 2015 $ 71,063 Additions — Accretion (8,876 ) Reclassifications from non-accretable difference (A) 29,569 Disposals (B) (2,680 ) Transfer of loans to held-for-sale (C) (89,076 ) Balance at September 30, 2016 $ — (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 PCD loan pool at its carrying amount. (C) Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff.
Summary of Activities Related to the Carrying Value of Loans Held-for-sale	Activities related to the carrying value of loans held-for-sale were as follows: For the Loans Held-for-Sale Balance at December 31, 2015 $ 776,681 Purchases (A) 788,824 Transfer of loans from held-for-investment (B) 316,199 Sales (915,361 ) Transfer of loans to other assets (C) (148,243 ) Transfer of loans to real estate owned (39,558 ) Proceeds from repayments (75,329 ) Valuation (provision) reversal on loans (D) 2,268 Balance at September 30, 2016 $ 705,481 (A) Represents loans acquired with the intent to sell. (B) Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff. (C) Represents loans for which foreclosure has been completed during the nine months ended September 30, 2016 and for which New Residential has made, or intends to make, a claim with the governmental agency that has guaranteed the loans that are now recognized as claims receivable in Other Assets (Note 2). (D) Represents the fair value adjustments to loans upon transfer to held-for-sale and provision recorded on certain purchased held-for-sale loans, including $2.6 million and $3.6 million of provision related to the call transactions executed on March 25, 2016 and May 25, 2016 , respectively.
Schedule of Real Estate Owned	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. Real Estate Owned Balance at December 31, 2015 $ 50,574 Purchases 8,123 Transfer of loans to real estate owned 62,057 Sales (46,748 ) Valuation provision on REO (13,547 ) Balance at September 30, 2016 $ 60,459

INVESTMENTS IN CONSUMER LOANS (

INVESTMENTS IN CONSUMER LOANS (Tables)	9 Months Ended
	Sep. 30, 2016
Investments In Consumer Loans Equity Method Investees [Abstract]
Summary of the Investment in Consumer Loan Companies	The following table summarizes the investment in consumer loans, held-for-investment held by New Residential: Unpaid Principal Balance (A) Interest in Consumer Loans Carrying Value Weighted Average Coupon (B) Weighted Average Expected Life (Years) (C) Weighted Average Delinquency (D) September 30, 2016 Consumer Loan Companies Performing Loans $ 1,345,573 53.5 % $ 1,391,388 18.7 % 4.3 5.7 % Purchased Credit Deteriorated Loans (E) 396,462 53.5 % 339,916 16.6 % 3.6 13.2 % Other - Performing Loans 91,523 100.0 % 90,675 14.3 % 1.5 — % Total Consumer Loans, held-for-investment $ 1,833,558 $ 1,821,979 18.1 % 4.0 7.0 % December 31, 2015 (F) Consumer Loan Companies Total Consumer Loans, held-for-investment $ 2,094,904 30.0 % $ 1,698,130 18.2 % 4.4 7.2 % (A) Represents the balances as of September 30, 2016 and November 30, 2015, respectively. (B) Substantially all of the cash flows received on the loans held by the Consumer Loan Companies are required to be used to make payments on the notes described above. (C) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (D) Represents the percentage of the total unpaid principal balance that is 30+ days delinquent. Delinquency status is the primary credit quality indicator as it provides early warning of borrowers who may be experiencing financial difficulties. (E) Includes loans with evidence of credit deterioration since origination where it is probable that New Residential will not collect all contractually required principal and interest payments, which are accounted for as PCD loans. (F) Held through an equity method investee, which had a carrying value of zero, at such time.
Past Due Financing Receivable	The following table provides past due information regarding New Residential’s performing consumer loans, held-for-investment, which is an important indicator of credit quality and the establishment of the allowance for loan losses: September 30, 2016 Days Past Due Delinquency Status (A) Current 94.7 % 30-59 2.2 % 60-89 1.2 % 90-119 (B) 0.7 % 120+ (B) (C) 1.2 % 100.0 % (A) Represents the percentage of the total unpaid principal balance that corresponds to loans that are in each delinquency status. (B) Includes loans more than 90 days past due and still accruing interest. (C) Interest is accrued up to the date of charge-off at 180 days past due.
Schedule of Carrying Value of Performing Consumer Loans	Activities related to the carrying value of performing consumer loans, held-for-investment were as follows: Performing Loans Balance at December 31, 2015 $ — SpringCastle Transaction 1,539,569 Purchases 92,069 Additional fundings (A) 33,137 Proceeds from repayments (155,388 ) Accretion of loan discount and premium amortization, net 5,097 Net charge-offs (30,535 ) Provision for loan losses (1,886 ) Balance at September 30, 2016 $ 1,482,063 (A) Represents draws on consumer loans with revolving privileges.
Summary of Activities Related to the Valuation Provision on Reverse Mortgage Loans and Allowance for Loan Losses	Activities related to the valuation and loss provision on reverse mortgage loans and allowance for loan losses on performing loans held-for-investment were as follows: Reverse Mortgage Loans Performing Loans Balance at December 31, 2015 $ 1,553 $ 119 Provision for loan losses (A) 73 4 Charge-offs (B) — — Sales (171 ) — Transfer of loans to held-for-sale (C) (1,455 ) (123 ) Balance at September 30, 2016 $ — $ — (A) 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. (B) Loans, other than PCD 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. (C) Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff. Activities related to the allowance for loan losses on performing consumer loans, held-for-investment were as follows: Collectively Evaluated (A) Individually Impaired (B) Total Balance at March 31, 2016 $ — $ — $ — Provision for loan losses 31,382 1,039 32,421 Net charge-offs (C) (30,535 ) — (30,535 ) Balance at September 30, 2016 $ 847 $ 1,039 $ 1,886 (A) Represents smaller-balance homogeneous loans that are not individually considered impaired and are evaluated based on an analysis of collective borrower performance, key terms of the loans and historical and anticipated trends in defaults and loss severities, and consideration of the unamortized acquisition discount. Includes a provision for loan losses of $0.9 million for newly originated loans acquired during the three months ended September 30, 2016 . (B) Represents consumer loan modifications considered to be troubled debt restructurings (“TDRs”) as they provide concessions to borrowers, primarily in the form of interest rate reductions, who are experiencing financial difficulty. As of September 30, 2016 , there are $3.6 million in UPB and $2.5 million in carrying value of consumer loans classified as TDRs. (C) Consumer loans, other than PCD loans, are charged off when available information confirms that loans are uncollectible, which is generally when they become 180 days past due. Charge-offs are presented net of $5.6 million in recoveries of previously charged-off UPB.
Schedule of Carrying Value of Purchased Credit Deteriorated Loans	Activities related to the carrying value of PCD consumer loans, held-for-investment were as follows: Balance at December 31, 2015 $ — SpringCastle Transaction 395,129 Allowance for Loan Losses (A) (2,115 ) Proceeds from repayments (77,899 ) Accretion of loan discount and other amortization 24,801 Balance at September 30, 2016 $ 339,916
Impaired Financing Receivables	The following is the unpaid principal balance and carrying value for consumer 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, 2016 $ 396,462 $ 339,916 March 31, 2016 450,611 395,129
Schedule of Changes in Accretable Yield	The following is a summary of the changes in accretable yield for these loans: Balance at December 31, 2015 $ — SpringCastle Transaction 176,387 Accretion (24,801 ) Reclassifications from non-accretable difference (A) 24,167 Balance at September 30, 2016 $ 175,753 (A) Represents a probable and significant increase in cash flows previously expected to be uncollectible.
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net	Others’ interests in the equity of the Consumer Loan Companies is computed as follows at September 30, 2016 : Total Consumer Loan Companies equity $ 230,251 Others’ ownership interest 46.5 % Others’ interests in equity of consolidated subsidiary $ 107,067 Others’ interests in the Consumer Loan Companies’ net income (loss) is computed as follows: Three Months Ended September 30, 2016 Nine Months Ended Net Consumer Loan Companies income (loss) $ 28,655 $ 60,118 Others’ ownership interest as a percent of total 46.5 % 46.5 % Others’ interest in net income (loss) of consolidated subsidiaries $ 13,325 $ 27,955
Schedule of Assets and Liabilities Related to Consolidated Variable Interest Entities	The following table presents information on the combined assets and liabilities related to these consolidated VIEs. As of September 30, 2016 Assets Consumer loans, held-for-investment $ 1,731,304 Restricted cash 13,866 Accrued interest receivable 25,468 Total assets (A) $ 1,770,638 Liabilities Notes and bonds payable $ 1,590,387 Accounts payable and accrued expenses 1,150 Total liabilities (A) $ 1,591,537 (A) The creditors of the Consumer Loan SPVs do not have recourse to the general credit of New Residential, and the assets of the Consumer Loan SPVs are not directly available to satisfy New Residential’s obligations.

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 December 31, 2015 Derivative assets Interest Rate Caps Other assets $ 2,088 $ 2,689 $ 2,088 $ 2,689 Derivative liabilities TBAs Accrued expenses and other liabilities $ 3,461 $ 2,058 Interest Rate Swaps Accrued expenses and other liabilities 20,624 11,385 $ 24,085 $ 13,443 The following table summarizes notional amounts related to derivatives: September 30, 2016 December 31, 2015 TBAs, short position (A) $ 2,645,300 $ 1,450,000 TBAs, long position (A) 1,441,000 750,000 Interest Rate Caps (B) 2,435,000 3,400,000 Interest Rate Swaps, short positions (C) 2,044,000 2,444,000 (A) Represents the notional amount of Agency RMBS, classified as derivatives. (B) Caps LIBOR at 0.50% for $950.0 million of notional, at 0.75% for $1,150.0 million of notional, at 2.00% for $185.0 million of notional, and at 4.00% for $150.0 million of notional. The weighted average maturity of the interest rate caps as of September 30, 2016 was 12 months. (C) Receive LIBOR and pay a fixed rate. The weighted average maturity of the interest rate swaps as of September 30, 2016 was 19 months and the weighted average fixed pay rate was 1.28% . The following table summarizes all income (losses) recorded in relation to derivatives: For the For the 2016 2015 2016 2015 Other income (loss), net (A) TBAs $ 10,502 $ 2,054 $ (22 ) $ 254 Interest Rate Swaps 15,997 (10,221 ) (4,799 ) (15,310 ) Interest Rate Caps 463 (999 ) (3,683 ) (2,369 ) 26,962 (9,166 ) (8,504 ) (17,425 ) Gain (loss) on settlement of investments, net TBAs (15,922 ) (33,398 ) (55,159 ) (36,902 ) Interest Rate Caps — (545 ) (1,124 ) (545 ) Interest Rate Swaps (8,917 ) (10,536 ) (14,024 ) (15,853 ) (24,839 ) (44,479 ) (70,307 ) (53,300 ) Total income (losses) $ 2,123 $ (53,645 ) $ (78,811 ) $ (70,725 ) (A) Represents unrealized gains (losses).

DEBT OBLIGATIONS (Tables)

DEBT OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Debt Obligations	Activities related to the carrying value of New Residential’s debt obligations were as follows: Excess MSRs Servicer Advances (A) Real Estate Securities Real Estate Loans and REO Consumer Loans Total Balance at December 31, 2015 $ 182,978 $ 7,047,061 $ 3,017,157 $ 1,004,980 $ 40,446 $ 11,292,622 Repurchase Agreements: Borrowings — — 21,719,656 326,174 21,458 22,067,288 Repayments — — (20,500,091 ) (670,333 ) (8,836 ) (21,179,260 ) Capitalized deferred financing costs, net of amortization — — — (1,138 ) — (1,138 ) Notes and Bonds Payable: Acquired borrowings, net of discount — — — — 1,803,192 1,803,192 Borrowings 401,740 5,101,227 — — 64,342 5,567,309 Repayments (315,662 ) (6,251,482 ) — (6,311 ) (212,953 ) (6,786,408 ) Discount on borrowings, net of amortization 1,420 — — — 147 1,567 Capitalized deferred financing costs, net of amortization (2,186 ) 941 — (175 ) (599 ) (2,019 ) Balance at September 30, 2016 $ 268,290 $ 5,897,747 $ 4,236,722 $ 653,197 $ 1,707,197 $ 12,763,153 (A) New Residential net settles daily borrowings and repayments of the Notes and Bonds Payable on its Servicer Advances. The following table presents certain information regarding New Residential’s debt obligations: September 30, 2016 December 31, 2015 Collateral Debt Obligations/Collateral Month Issued Outstanding Face Amount Carrying Value (A) Final Stated Maturity (B) Weighted Average Funding Cost Weighted Average Life (Years) Outstanding Face Amortized Cost Basis Carrying Value Weighted Average Life (Years) Carrying Value (A) Repurchase Agreements (C) Agency RMBS (D) Various $ 1,614,256 $ 1,614,256 Oct-16 to Dec-16 0.70 % 0.1 $ 1,591,692 $ 1,684,858 $ 1,680,197 0.5 $ 1,683,305 Non-Agency RMBS (E) Various 2,622,466 2,622,466 Oct-16 to Mar-17 2.24 % 0.1 6,312,788 3,396,357 3,502,317 7.0 1,333,852 Residential Mortgage Loans (F) Various 556,538 554,991 Oct-16 to Sep-18 3.01 % 0.5 882,312 685,345 682,916 3.0 907,993 Real Estate Owned (G)(H) Various 85,403 85,163 Oct-16 to Sep-18 3.09 % 0.4 N/A N/A 108,051 N/A 77,458 Consumer Loan Investment (I) Apr-15 53,068 53,068 Oct-16 5.61 % 0.1 N/A N/A 123,184 4.1 40,446 Total Repurchase Agreements 4,931,731 4,929,944 1.87 % 0.1 4,043,054 Notes and Bonds Payable Secured Corporate Notes (J) Various 270,511 268,290 Apr-18 to Jun-19 5.28 % 1.8 247,538,861 801,924 940,117 5.9 182,978 Servicer Advances (K) Various 5,907,803 5,897,747 Mar-17 to Jun-19 3.52 % 1.0 6,017,968 6,012,315 6,043,369 4.5 7,047,061 Residential Mortgage Loans (L) Oct-15 9,789 9,614 Oct-16 3.39 % 0.1 14,243 8,086 8,086 4.5 19,529 Consumer Loans (M) (N) Various 1,659,453 1,654,129 Sep-19 to Apr-34 4.31 % 3.1 1,822,593 1,812,730 1,811,115 4.0 — Receivable from government agency (L) Oct-15 3,429 3,429 Oct-16 3.39 % 0.1 N/A N/A 4,068 N/A — Total Notes and Bonds Payable 7,850,985 7,833,209 3.74 % 1.5 7,249,568 Total/ Weighted Average $ 12,782,716 $ 12,763,153 3.02 % 1.0 $ 11,292,622 (A) Net of deferred financing costs. (B) All debt obligations with a stated maturity of October 2016 were refinanced, extended, or repaid. (C) These repurchase agreements had approximately $6.7 million of associated accrued interest payable as of September 30, 2016 . (D) All of the Agency RMBS repurchase agreements have a fixed rate. Collateral amounts include approximately $1.5 billion of related trade and other receivables. (E) All of the Non-Agency RMBS repurchase agreements have LIBOR-based floating interest rates. This includes repurchase agreements of $89.2 million on retained servicer advance bonds. (F) All of these repurchase agreements have LIBOR-based floating interest rates. (G) All of these repurchase agreements have LIBOR-based floating interest rates. (H) Includes financing collateralized by receivables including claims from FHA on Ginnie Mae EBO loans for which foreclosure has been completed and for which New Residential has made or intends to make a claim on the FHA guarantee. (I) The repurchase agreement bears interest equal to three-month LIBOR plus 5.00% and is collateralized by 56% of New Residential’s interest in the Consumer Loan Companies (Note 9). (J) The loans bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.75% . The outstanding face amount of the collateral represents the UPB of the residential mortgage loans underlying the Excess MSRs that secure these notes. (K) $2.2 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 2.1% to 2.2% . (L) The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 2.875% . (M) Includes the debt assumed in the SpringCastle Transaction (Note 1), which is comprised of the following classes of asset-backed notes (collectively, the “2014-A Notes”) held by third parties: $637.1 million UPB of Class A notes with a coupon of 2.7% and a stated maturity date in May 2023 (the “Class A Notes”); $427.0 million UPB of Class B notes with a coupon of 4.61% and a stated maturity date in October 2027 (the “Class B Notes”); $331.2 million UPB of Class C notes with a coupon of 5.59% and a stated maturity date in October 2033 (the “Class C Notes”); and $199.8 million UPB of Class D notes with a coupon of 6.82% and a stated maturity date in April 2034 (the “Class D Notes”). Prior to the payment date in October 2016, the redemption price for any class of the outstanding 2014-A Notes shall be the sum of (i) 100% of the UPB of the 2014-A Notes of the applicable class to be redeemed, plus (ii) the applicable Specified Call Premium Amount (as defined below) for such 2014-A Notes, plus (iii) accrued and unpaid interest and fees in respect of such 2014-A Notes. On or after the payment date occurring in October 2016, the redemption price for any class of 2014-A Notes shall be the sum of (i) 100% of the UPB of the 2014-A Notes of the applicable class to be redeemed, plus (ii) accrued and unpaid interest and fees in respect of such 2014-A Notes. The “Specified Call Premium Amount” on any payment date for any class of 2014-A Notes shall mean (i) in the case of Class A Notes, an amount equal to 1.00% of the UPB of the Class A Notes to be redeemed and (ii) in the case of the Class B Notes, the Class C Notes and the Class D Notes, an amount equal to (a) the product of (1) with respect to the Class B Notes, 0.75% , with respect to the Class C Notes, 1.00% and with respect to the Class D Notes, 2.00% , times (2) the UPB of the 2014-A Notes of such class to be redeemed on such payment date, times (3) the number of days, computed on a 30/360 basis, from and including such payment date to but excluding the payment date occurring in October 2016, divided by (b) 360. (N) Includes a $64.3 million face amount note collateralized by newly originated consumer loans which bears interest equal to one-month LIBOR plus 3.25% .
Schedule of Contractual Maturities of Debt Obligations	New Residential’s debt obligations as of September 30, 2016 had contractual maturities as follows: Year Nonrecourse Recourse Total October 1 through December 31, 2016 $ — $ 4,176,165 $ 4,176,165 2017 5,088,249 680,321 5,768,570 2018 501,636 247,272 748,908 2019 443,451 50,511 493,962 2020 — — — 2021 and thereafter 1,595,111 — 1,595,111 $ 7,628,447 $ 5,154,269 $ 12,782,716
Schedule of Borrowing Capacity	The following table represents New Residential’s borrowing capacity as of September 30, 2016 : Debt Obligations / Collateral Collateral Type Borrowing Capacity Balance Outstanding Available Financing Repurchase Agreements Residential Mortgage Loans Real Estate Loans and REO $ 2,065,000 $ 641,941 $ 1,423,059 Notes and Bonds Payable Secured Corporate Loan Excess MSRs 525,000 270,511 254,489 Servicer Advances (A) Servicer Advances 7,274,860 5,907,803 1,367,057 Consumer Loans Consumer Loans 125,000 64,342 60,658 $ 9,989,860 $ 6,884,597 $ 3,105,263 (A) New Residential’s unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions as set forth in the applicable agreements, including any applicable advance rate. New Residential pays a 0.2% fee on the unused borrowing capacity. Excludes borrowing capacity and outstanding debt for retained non-agency bonds with a current face amount of $110.1 million .

FAIR VALUE OF FINANCIAL INSTR38

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Fair Values of Financial Assets Recorded at Fair Value on a Recurring Basis	The carrying values and fair values of New Residential’s financial assets and liabilities recorded at fair value on a recurring basis, as well as other financial instruments for which fair value is disclosed, as of September 30, 2016 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 value (A) $ 290,291,012 $ 1,404,052 $ — $ — $ 1,404,052 $ 1,404,052 Excess mortgage servicing rights, equity method investees, at fair value (A) 63,834,062 195,904 — — 195,904 195,904 Servicer advances 6,017,968 6,043,369 — — 6,043,369 6,043,369 Real estate securities, available-for-sale 8,027,852 4,991,242 — 1,434,308 3,556,934 4,991,242 Residential mortgage loans, held-for-investment — — — — — — Residential mortgage loans, held-for-sale 927,523 705,481 — — 733,879 733,879 Consumer loans, held-for-investment 1,833,558 1,821,979 — — 1,852,118 1,852,118 Derivative assets 2,435,000 2,088 — 2,088 — 2,088 Cash and cash equivalents 388,674 388,674 388,674 — — 388,674 Restricted cash 153,127 153,127 153,127 — — 153,127 Other Assets 729,193 3,255 — — 3,255 3,255 $ 15,709,171 $ 541,801 $ 1,436,396 $ 13,789,511 $ 15,767,708 Liabilities Repurchase agreements $ 4,931,731 $ 4,929,944 $ — $ 4,931,731 $ — $ 4,931,731 Notes and bonds payable 7,850,985 7,833,209 — — 7,864,545 7,864,545 Derivative liabilities 6,130,300 24,085 — 24,085 — 24,085 $ 12,787,238 $ — $ 4,955,816 $ 7,864,545 $ 12,820,361 (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.
Schedule of Financial Assets Measured at Fair Value 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 as follows: Level 3 Excess MSRs (A) Excess MSRs in Equity Method Investees (A)(B) Agency Non-Agency Agency Servicer Advances Non-Agency RMBS Total Balance at December 31, 2015 $ 437,201 $ 1,144,316 $ 217,221 $ 7,426,794 $ 1,584,283 $ 10,809,815 Transfers (C) Transfers from Level 3 — — — — — — Transfers to Level 3 — — — — — — Gains (losses) included in net income Included in other-than-temporary impairment on securities (D) — — — — (7,838 ) (7,838 ) Included in change in fair value of investments in excess mortgage servicing rights (D) (7,292 ) (17,105 ) — — — (24,397 ) Included in change in fair value of investments in excess mortgage servicing rights, equity method investees (D) — — 8,608 — — 8,608 Included in change in fair value of investments in Servicer Advances — — — 4,328 — 4,328 Included in gain (loss) on settlement of investments, net — — — — (20,950 ) (20,950 ) Included in other income (loss), net (D) 1,930 258 — — (2,779 ) (591 ) Gains (losses) included in other comprehensive income (E) — — — — 105,031 105,031 Interest income 25,156 81,692 — 257,877 133,589 498,314 Purchases, sales and repayments Purchases — — — 11,588,537 2,298,446 13,886,983 Proceeds from sales — — — — (95,430 ) (95,430 ) Proceeds from repayments (68,231 ) (193,873 ) (29,925 ) (13,234,167 ) (437,418 ) (13,963,614 ) Balance at September 30, 2016 $ 388,764 $ 1,015,288 $ 195,904 $ 6,043,369 $ 3,556,934 $ 11,200,259 (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 each 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 and realized gains (losses) recorded during the period. (E) These gains (losses) were included in net unrealized gain (loss) on securities in the Condensed Consolidated Statements of Comprehensive Income.
Summary of Certain Information Regarding the Inputs used in Valuing the Servicer Advances	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, 2016 : Significant Inputs (A) Directly Held (Note 4) Prepayment Rate (B) Delinquency (C) Recapture Rate (D) Excess Mortgage Servicing Amount (bps) (E) Collateral Weighted Average Maturity (Years) (F) Agency Original Pools 10.6 % 3.3 % 32.5 % 21 24 Recaptured Pools 7.6 % 4.8 % 20.9 % 21 25 Recapture Agreement 7.6 % 4.9 % 20.0 % 22 — 9.8 % 3.7 % 29.2 % 21 24 Non-Agency (G) Nationstar and SLS Serviced: Original Pools 11.9 % N/A 10.6 % 14 24 Recaptured Pools 8.1 % N/A 20.0 % 20 24 Recapture Agreement 7.5 % N/A 20.0 % 20 — Ocwen Serviced Pools 9.6 % N/A — % 14 25 10.0 % N/A 2.7 % 14 25 Total/Weighted Average--Directly Held 9.9 % 3.7 % 10.0 % 16 25 Held through Equity Method Investees (Note 5) Agency Original Pools 12.4 % 5.3 % 35.0 % 19 23 Recaptured Pools 7.8 % 5.0 % 20.0 % 23 25 Recapture Agreement 7.7 % 4.9 % 20.0 % 23 — Total/Weighted Average--Held through Investees 10.4 % 5.2 % 28.6 % 21 24 Total/Weighted Average--All Pools 10.0 % 4.0 % 13.9 % 17 25 (A) Weighted by fair value of the 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 for which the borrower will miss its mortgage payments. (D) Percentage of voluntarily prepaid loans that are expected to be refinanced by the related servicer. (E) Weighted average total mortgage servicing amount in excess of the basic fee, measured in basis points (bps). (F) Weighted average maturity of the underlying mortgage loans in the pool. (G) 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.
Summary of Certain Information Regarding the Inputs used in Valuing the 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 Rate (A) Delinquency Mortgage Servicing Amount (B) Discount Rate Collateral Weighted Average Maturity (Years) (C) September 30, 2016 2.1 % 10.3 % 14.8 % 8.6 bps 5.4 % 24.7 (A) Projected annual weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector. (B) Mortgage servicing amount excludes the amounts New Residential pays its servicers as a monthly servicing fee. (C) Weighted average maturity of the underlying mortgage loans in the pool.
Schedule of Securities Valuation Methodology and Results	As of September 30, 2016 , 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 $ 1,356,580 $ 1,437,777 $ 1,434,308 $ — $ 1,434,308 2 Non-Agency RMBS (C) 6,671,272 3,446,822 3,062,411 494,523 3,556,934 3 Total $ 8,027,852 $ 4,884,599 $ 4,496,719 $ 494,523 $ 4,991,242 (A) New Residential generally obtains pricing service quotations or broker quotations from two sources, one of which is generally the seller (the party that sold New Residential the security) for Non-Agency RMBS. New Residential evaluates quotes received and determines one as being most representative of fair value, and does 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 it 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. New Residential 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, it selects one of the quotes which is believed to more accurately reflect fair value. New Residential has not adjusted any of the quotes received in the periods presented. 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. New Residential’s investments in Agency RMBS are classified within Level 2 of the fair value hierarchy because the market for these securities is very active and market prices are readily observable. The third-party pricing services and brokers engaged by New Residential (collectively, “valuation providers”) use either the income approach or the market approach, or a combination of the two, in arriving at their estimated valuations of RMBS. Valuation providers using the market approach generally look at prices and other relevant information generated by market transactions involving identical or comparable assets. Valuation providers using the income approach create pricing models that generally incorporate such assumptions as discount rates, expected prepayment rates, expected default rates and expected loss severities. New Residential has reviewed the methodologies utilized by its valuation providers and has found them to be consistent with GAAP requirements. In addition to obtaining multiple quotations, when available, and reviewing the valuation methodologies of its valuation providers, New Residential creates its own internal pricing models for Level 3 securities and uses the outputs of these models as part of its process of evaluating the fair value estimates it receives from its valuation providers. These models incorporate the same types of assumptions as the models used by the valuation providers, but the assumptions are developed independently. These assumptions are regularly refined and updated at least quarterly by New Residential, and reviewed by its valuation group, which is separate from its investment acquisition and management group, to reflect market developments and actual performance. For 67.6% of our Non-Agency RMBS, the ranges of assumptions used by New Residential’s valuation providers are summarized in the table below. The assumptions used by New Residential’s valuation providers with respect to the remainder of New Residential’s Non-Agency RMBS were not readily available. Fair Value Discount Rate Prepayment Rate (a) CDR (b) Loss Severity (c) Non-Agency RMBS $ 2,403,846 1.57% to 32.75% 0% to 20% 0.1% to 12.0% 5.0% to 100% (a) Represents the annualized rate of the prepayments as a percentage of the total principal balance of the pool. (b) Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance of the pool. (c) Represents the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding balance. (B) New Residential was unable to obtain quotations from more than one source on these securities. For approximately $462.7 million , the one source was the party that sold New Residential the security. (C) Includes New Residential’s investments in interest-only notes for which the fair value option for financial instruments was elected.
Schedule of Inputs Used in Valuing Residential Mortgage Loans	The following table summarizes the inputs used in valuing certain loans as of September 30, 2016 : Carrying Value Fair Value Valuation and Loss Provision/ (Reversal) In Current Year Discount Rate Weighted Average Life (Years) (A) Prepayment Rate CDR (B) Loss Severity (C) Reverse Mortgage Loans (D) $ 11,836 $ 13,707 $ 73 7.0 % 4.5 N/A N/A 10.8 % Performing Loans 18,693 18,909 4 8.0 % 5.3 5.4 % 2.4 % 59.3 % Non-performing Loans 564,583 590,894 N/A 7.4 % 2.8 2.4 % 3.0 % 30.0 % Total/Weighted Average $ 595,112 $ 623,510 $ 77 7.4 % 2.9 30.5 % Consumer Loans $ 1,821,979 $ 1,852,118 $ 4,001 9.3 % 4.0 15.2 % 5.5 % 88.0 % (A) The weighted average life is based on the expected timing of the receipt of cash flows. (B) Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance. (C) Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance. (D) Carrying value and fair value represent a 70% participation interest New Residential holds in the portfolio of reverse mortgage loans. The following table summarizes the inputs used in valuing these loans as of September 30, 2016 : September 30, 2016 Fair Value and Carrying Value Discount Rate Weighted Average Life (Years) (A) Prepayment Rate CDR (B) Loss Severity (C) Residential Mortgage Loans Performing Loans $ 88,474 3.1 % 3.9 17.4 % 0.6 % 11.3 % Non-performing Loans 21,895 6.5 % 3.2 3.0 % 3.0 % 30.0 % Total/Weighted Average $ 110,369 3.8 % 3.8 14.5 % 15.0 % (A) The weighted average life is based on the expected timing of the receipt of cash flows. (B) Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance. (C) Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance.
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques	The assumptions used by New Residential’s valuation providers with respect to the remainder of New Residential’s Non-Agency RMBS were not readily available. Fair Value Discount Rate Prepayment Rate (a) CDR (b) Loss Severity (c) Non-Agency RMBS $ 2,403,846 1.57% to 32.75% 0% to 20% 0.1% to 12.0% 5.0% to 100% (a) Represents the annualized rate of the prepayments as a percentage of the total principal balance of the pool. (b) Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance of the pool. (c) Represents the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding balance.

EQUITY AND EARNINGS PER SHARE (

EQUITY AND EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2016
Equity and Earnings Per Share [Abstract]
Summary of Outstanding Options	As of September 30, 2016 , New Residential’s outstanding options were summarized as follows: Issued Prior to 2011 Issued in 2011-2016 Total Held by the Manager 345,720 10,874,152 11,219,872 Issued to the Manager and subsequently transferred to certain of the Manager’s employees 88,280 1,967,458 2,055,738 Issued to the independent directors — 6,000 6,000 Total 434,000 12,847,610 13,281,610 The following table summarizes New Residential’s outstanding options as of September 30, 2016 . The last sales price on the New York Stock Exchange for New Residential’s common stock in the quarter ended September 30, 2016 was $13.81 per share. Recipient Date of Grant/ Exercise (A) Number of Unexercised Options Options Exercisable as of September 30, 2016 Weighted Average Exercise Price (B) Intrinsic Value of Exercisable Options as of September 30, 2016 (millions) Directors Various 6,000 6,000 $ 13.60 $ — Manager (C) 2003 - 2007 434,000 434,000 31.36 — Manager (C) 2011 - 2012 25,000 25,000 7.19 0.2 Manager (C) 2013 835,571 835,571 11.48 2.0 Manager (C) 2014 1,437,500 1,389,583 12.20 2.2 Manager (C) 2015 8,543,539 4,655,103 15.44 — Manager (C) 2016 2,000,000 66,667 14.20 — Outstanding 13,281,610 7,411,924 (A) Options expire on the tenth anniversary from date of grant. (B) The exercise prices are subject to adjustment in connection with return of capital dividends. (C) The Manager assigned certain of its options to Fortress’s employees as follows: Date of Grant Range of Exercise Prices Total Unexercised Inception to Date 2006-2007 $29.92 to $33.80 88,280 2013 $10.24 to $11.48 — 2014 $12.20 258,750 2015 $15.25 to $15.88 1,708,708 2016 $13.65 to $14.20 — Total 2,055,738 The following table summarizes activity in New Residential’s outstanding options: Amount Weighted Average Exercise Price December 31, 2015 outstanding options 12,380,107 Options granted 2,002,000 $ 14.20 Options exercised (1,100,497 ) $ 10.59 Options expired unexercised — September 30, 2016 outstanding options 13,281,610 See table above

TRANSACTIONS WITH AFFILIATES 40

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2016
Transactions With Affiliates And Affiliated Entities
Schedule of Affiliate Transactions	Due to affiliates is comprised of the following amounts: September 30, 2016 December 31, 2015 Management fees $ 3,688 $ 6,671 Incentive compensation 13,200 16,017 Expense reimbursements and other 1,722 1,097 $ 18,610 $ 23,785 Affiliate expenses and fees were comprised of: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Management fees $ 10,536 $ 9,860 $ 30,552 $ 23,357 Incentive compensation 7,075 1,811 13,200 7,895 Expense reimbursements (A) 125 125 375 375 Total $ 17,736 $ 11,796 $ 44,127 $ 31,627 (A) Included in General and Administrative Expenses in the Condensed Consolidated Statements of Income.

RECLASSIFICATION FROM ACCUMUL41

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Summary of Amounts Reclassified out of 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 Income Components Statement of Income Location Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Reclassification of net realized (gain) loss on securities into earnings Gain on settlement of investments, net $ 679 $ (24,454 ) $ (15,072 ) $ (31,230 ) Reclassification of net realized (gain) loss on securities into earnings Other-than-temporary impairment on securities 1,765 1,574 7,838 3,294 Total reclassifications $ 2,444 $ (22,880 ) $ (7,234 ) $ (27,936 ) New Residential did not allocate any income tax expense or benefit to any component of other comprehensive income for any period presented, as no taxable subsidiary generated other comprehensive income.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense (Benefit)	Income tax expense (benefit) consists of the following: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Current: Federal $ 3,290 $ 505 $ 4,561 $ 1,135 State and Local 478 (982 ) 636 (2,073 ) Total Current Income Tax Expense (Benefit) 3,768 (477 ) 5,197 (938 ) Deferred: Federal 16,375 (3,193 ) 12,575 8,764 State and Local 757 (2,262 ) 423 (2,879 ) Total Deferred Income Tax Expense (Benefit) 17,132 (5,455 ) 12,998 5,885 Total Income Tax Expense (Benefit) $ 20,900 $ (5,932 ) $ 18,195 $ 4,947

ORGANIZATION AND BASIS OF PRE43

ORGANIZATION AND BASIS OF PRESENTATION - Common Stock (Details) - shares	Sep. 30, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Common stock, shares outstanding (in shares)	250,773,117	230,471,202
Common stock options, outstanding (in shares)	13,281,610	12,380,107
Fortress [Member]
Related Party Transaction [Line Items]
Common stock, shares outstanding (in shares)	2,400,000
Common stock options, outstanding (in shares)	11,200,000

ORGANIZATION AND BASIS OF PRE44

ORGANIZATION AND BASIS OF PRESENTATION - SpringCastle Transaction (Details) - USD ($) $ in Millions	Mar. 31, 2016	Sep. 30, 2016	Apr. 01, 2016	Mar. 30, 2016
Consumer Loan Companies [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Ownership percentage by noncontrolling owners		46.50%
SpringCastle [Member] | Consumer Loan Companies [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Ownership percentage by noncontrolling owners				30.00%
Equity method investments, fair value				$ 71.3
SpringCastle [Member] | New Residential Investment Corp. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Parent's ownership percentage			53.50%
Consumer Loan Companies [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Total consideration	$ 237.5
Consumer Loan Companies [Member] | New Residential Investment Corp. [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Total consideration	$ 237.5
Parent's ownership percentage		53.50%
Percent of net assets used in gross purchase price	100.00%
SpringCastle Sellers [Member] | SpringCastle [Member] | SpringCastle Buyers [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Ownership percentage by noncontrolling owners	47.00%
Total consideration	$ 111.6
Cash consideration	100.5
Other Payments to Acquire Businesses	$ 11.2
Term for payment to escrow account (in days)	120 days
Term for funds held in escrow (in years)	5 years
SpringCastle Sellers [Member] | SpringCastle [Member] | NRZ SpringCastle Buyers [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Percentage of voting interests acquired	23.50%
Voting interests acquired as a percentage of gross voting interests available for sale	50.00%
Percentage of total consideration paid	50.00%
Blackstone SpringCastle Buyers [Member] | SpringCastle [Member]
Business Combination, Separately Recognized Transactions [Line Items]
Ownership percentage by noncontrolling owners			46.50%
Voting interests acquired as a percentage of gross voting interests available for sale	50.00%

ORGANIZATION AND BASIS OF PRE45

ORGANIZATION AND BASIS OF PRESENTATION - Summary of Preliminary Purchase Price Allocation (Details) - Consumer Loan Companies [Member] $ in Millions	Mar. 31, 2016USD ($)
Business Acquisition [Line Items]
Total consideration	$ 237.5
Assets
Consumer loans, held-for-investment	1,934.7
Cash and cash equivalents	0.3
Restricted cash	74.6
Other assets	35.9
Total Assets Acquired	2,045.5
Liabilities
Notes and bonds payable	1,803.2
Accrued expenses and other liabilities	4.8
Total Liabilities Assumed	1,808
Net Assets	$ 237.5

ORGANIZATION AND BASIS OF PRE46

ORGANIZATION AND BASIS OF PRESENTATION - Summary of Unaudited Pro Forma Combined Interest Income and Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Mar. 30, 2016
Pro Forma
Interest income	$ 282,388	$ 182,341	$ 749,901	$ 444,891
Income (Loss) Before Income Taxes	151,986	55,823	358,846	187,777
Consumer Loan Companies [Member]
Pro Forma
Interest Income	282,388	276,720	836,814	739,490
Income Before Income Taxes	151,986	85,158	319,144	388,041
Noncontrolling Interests in Income of Consolidated Subsidiaries	32,178	27,523	79,944	77,870
Acquisition related costs			1,500
Consumer Loans [Member]
Pro Forma
Interest income	77,231	0	155,541	1
Income (Loss) Before Income Taxes	28,166	$ 13,790	$ 138,264	$ 32,112
Consumer Loans [Member] | Operating Segments [Member]
Pro Forma
Interest income	154,300
Income (Loss) Before Income Taxes	$ 60,100
Consumer Loan Companies [Member] | SpringCastle [Member]
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Equity method investments, fair value					$ 71,300

OTHER INCOME, ASSETS AND LIAB47

OTHER INCOME, ASSETS AND LIABILITIES - Schedule of Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Other income (loss), net
Unrealized gain (loss) on derivative instruments	$ 26,962	$ (9,166)	$ (8,504)	$ (17,425)
Unrealized gain (loss) on other ABS	724	(706)	(226)	(1,073)
Gain (loss) on transfer of loans to REO	4,373	1,272	14,660	1,075
Gain on Excess MSR recapture agreements	768	669	2,188	2,247
Gain (loss) on transfer of loans to other assets	2,743	314	3,021	143
Other income (loss)	(2,597)	6,069	2,319	5,001
Total other income (loss), net	$ 32,973	$ (1,548)	$ 13,458	$ (10,032)

OTHER INCOME, ASSETS AND LIAB48

OTHER INCOME, ASSETS AND LIABILITIES - Schedule of Gain (Loss) on Settlement of Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Gain on Settlement of Investments, Net
Gain (loss) on sale of real estate securities, net	$ (679)	$ 24,454	$ 15,072	$ 31,230
Gain (loss) on sale of residential mortgage loans, net	8,537	226	9,142	31,808
Gain (loss) on settlement of derivatives	(24,839)	(44,479)	(70,307)	(53,300)
Gain (loss) on liquidated residential mortgage loans	(1,331)	246	(1,603)	492
Gain (loss) on sale of REO	2,207	(1,914)	5,193	(9,751)
Other gains (losses)	(974)	(15)	(1,787)	(5,993)
Gain (loss) on settlement of investments, net	$ (17,079)	$ (21,482)	$ (44,290)	$ (5,514)

OTHER INCOME, ASSETS AND LIAB49

OTHER INCOME, ASSETS AND LIABILITIES - Schedule of Other Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Other Assets
Margin receivable, net	$ 52,471	$ 54,459
Other receivables	6,984	5,829
Principal paydown receivable	1,834	795
Receivable from government agency	63,204	68,833
Call rights	414	414
Derivative assets (Note 10)	2,088	2,689
Interest receivable	53,964	36,963
Ginnie Mae EBO servicer advance receivable, net	17,924	49,725
Due from servicers	17,788	5,064
Other assets	20,188	14,675
Prepaid expense and other assets	236,859	239,446
Accrued Expenses and Other Liabilities
Interest payable	17,965	18,268
Accounts payable	33,727	18,650
Derivative liabilities (Note 10)	24,085	13,443
Current taxes payable	3,678	1,573
Due to servicers	8,975	0
Other liabilities	5,026	6,112
Accrued Expenses and Other Liabilities	$ 93,456	$ 58,046

OTHER INCOME, ASSETS AND LIAB50

OTHER INCOME, ASSETS AND LIABILITIES - Schedule of Accretion and Other Amortization (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Accretion and other amortization:
Accretion of servicer advance interest income		$ 257,877	$ 256,045
Accretion of excess mortgage servicing rights income		106,848	87,874
Accretion of net discount on securities and loans	[1]	164,806	35,239
Amortization of deferred financing costs		(13,889)	(18,691)
Amortization of discount on notes and bonds payable		(1,120)	0
Accretion of loan discount and premium amortization, net		$ 514,522	$ 360,467
[1]	Includes accretion of the accretable yield on PCD loans.

SEGMENT REPORTING - Summary of

SEGMENT REPORTING - Summary of Segment Financial Data (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Interest income		$ 282,388	$ 182,341	$ 749,901	$ 444,891
Interest expense		96,488	77,558	278,401	193,408
Net interest income (expense)		185,900	104,783	471,500	251,483
Impairment		20,040	(1,767)	49,683	5,702
Other income (loss)		26,701	(17,825)	38,900	32,120
Operating expenses		40,575	32,902	101,871	90,124
Income (Loss) Before Income Taxes		151,986	55,823	358,846	187,777
Income tax expense (benefit)		20,900	(5,932)	18,195	4,947
Net Income (Loss)		131,086	61,755	340,651	182,830
Noncontrolling interests in income (loss) of consolidated subsidiaries		32,178	7,193	61,355	17,174
Net Income Attributable to Common Stockholders		98,908	54,562	279,296	165,656
Investments		15,222,486		15,222,486
Cash and cash equivalents		388,674		388,674
Restricted cash		153,127		153,127		$ 94,702
Other assets		1,940,095		1,940,095
Total assets		17,704,382		17,704,382		15,192,722
Debt	[1]	12,763,153		12,763,153		11,292,622
Other liabilities		1,523,718		1,523,718
Total liabilities		14,286,871		14,286,871		12,206,142
Total equity		3,417,511		3,417,511		2,986,580
Noncontrolling interests in equity of consolidated subsidiaries		289,161		289,161		190,647
Total New Residential stockholders’ equity		3,128,350		3,128,350		$ 2,795,933
Investments in equity method investees		195,904		195,904
Excess MSRs [Member]
Segment Reporting Information [Line Items]
Interest income		30,617	38,477	106,848	87,874
Interest expense		4,002	2,936	12,117	8,681
Net interest income (expense)		26,615	35,541	94,731	79,193
Impairment		0	0	0	0
Other income (loss)		(10,052)	10,227	(14,234)	18,415
Operating expenses		536	168	1,066	517
Income (Loss) Before Income Taxes		16,027	45,600	79,431	97,091
Income tax expense (benefit)		0	0	0	0
Net Income (Loss)		16,027	45,600	79,431	97,091
Noncontrolling interests in income (loss) of consolidated subsidiaries		0	0	0	0
Net Income Attributable to Common Stockholders		16,027	45,600	79,431	97,091
Investments		1,599,956		1,599,956
Cash and cash equivalents		5,377		5,377
Restricted cash		2,406		2,406
Other assets		2,557		2,557
Total assets		1,610,296		1,610,296
Debt		268,290		268,290
Other liabilities		1,962		1,962
Total liabilities		270,252		270,252
Total equity		1,340,044		1,340,044
Noncontrolling interests in equity of consolidated subsidiaries		0		0
Total New Residential stockholders’ equity		1,340,044		1,340,044
Investments in equity method investees		195,904		195,904
Servicer Advances [Member]
Segment Reporting Information [Line Items]
Interest income		101,359	105,135	265,119	256,087
Interest expense		54,802	64,291	176,672	151,377
Net interest income (expense)		46,557	40,844	88,447	104,710
Impairment		0	0	0	0
Other income (loss)		21,430	(12,554)	9,103	835
Operating expenses		1,029	10,341	3,076	12,604
Income (Loss) Before Income Taxes		66,958	17,949	94,474	92,941
Income tax expense (benefit)		16,348	(4,852)	13,743	7,565
Net Income (Loss)		50,610	22,801	80,731	85,376
Noncontrolling interests in income (loss) of consolidated subsidiaries		18,853	7,193	33,400	22,332
Net Income Attributable to Common Stockholders		31,757	15,608	47,331	63,044
Investments		6,294,697		6,294,697
Cash and cash equivalents		134,000		134,000
Restricted cash		90,899		90,899
Other assets		181,521		181,521
Total assets		6,701,117		6,701,117
Debt		6,210,358		6,210,358
Other liabilities		28,616		28,616
Total liabilities		6,238,974		6,238,974
Total equity		462,143		462,143
Noncontrolling interests in equity of consolidated subsidiaries		182,094		182,094
Total New Residential stockholders’ equity		280,049		280,049
Investments in equity method investees		0		0
Real Estate Securities [Member]
Segment Reporting Information [Line Items]
Interest income		58,855	28,984	172,982	66,699
Interest expense		13,008	5,150	31,425	12,171
Net interest income (expense)		45,847	23,834	141,557	54,528
Impairment		1,765	1,574	7,838	3,294
Other income (loss)		1,392	(28,354)	(59,472)	(37,655)
Operating expenses		369	766	1,307	769
Income (Loss) Before Income Taxes		45,105	(6,860)	72,940	12,810
Income tax expense (benefit)		0	0	0	0
Net Income (Loss)		45,105	(6,860)	72,940	12,810
Noncontrolling interests in income (loss) of consolidated subsidiaries		0	0	0	0
Net Income Attributable to Common Stockholders		45,105	(6,860)	72,940	12,810
Investments		4,739,914		4,739,914
Cash and cash equivalents		1,305		1,305
Restricted cash		0		0
Other assets		1,578,722		1,578,722
Total assets		6,319,941		6,319,941
Debt		3,924,111		3,924,111
Other liabilities		1,326,013		1,326,013
Total liabilities		5,250,124		5,250,124
Total equity		1,069,817		1,069,817
Noncontrolling interests in equity of consolidated subsidiaries		0		0
Total New Residential stockholders’ equity		1,069,817		1,069,817
Investments in equity method investees		0		0
Real Estate Loans [Member]
Segment Reporting Information [Line Items]
Interest income		13,947	8,888	47,712	32,408
Interest expense		6,153	4,651	20,447	15,929
Net interest income (expense)		7,794	4,237	27,265	16,479
Impairment		(291)	(3,341)	7,309	2,408
Other income (loss)		13,931	(1,530)	22,295	20,063
Operating expenses		4,251	2,845	11,194	14,557
Income (Loss) Before Income Taxes		17,765	3,203	31,057	19,577
Income tax expense (benefit)		4,556	(1,405)	4,377	(2,942)
Net Income (Loss)		13,209	4,608	26,680	22,519
Noncontrolling interests in income (loss) of consolidated subsidiaries		0	0	0	0
Net Income Attributable to Common Stockholders		13,209	4,608	26,680	22,519
Investments		765,940		765,940
Cash and cash equivalents		3,736		3,736
Restricted cash		0		0
Other assets		108,359		108,359
Total assets		878,035		878,035
Debt		653,197		653,197
Other liabilities		20,608		20,608
Total liabilities		673,805		673,805
Total equity		204,230		204,230
Noncontrolling interests in equity of consolidated subsidiaries		0		0
Total New Residential stockholders’ equity		204,230		204,230
Investments in equity method investees		0		0
Consumer Loans [Member]
Segment Reporting Information [Line Items]
Interest income		77,231	0	155,541	1
Interest expense		18,523	530	37,740	1,054
Net interest income (expense)		58,708	(530)	117,801	(1,053)
Impairment		18,566	0	34,536	0
Other income (loss)		0	14,386	81,193	33,342
Operating expenses		11,976	66	26,194	177
Income (Loss) Before Income Taxes		28,166	13,790	138,264	32,112
Income tax expense (benefit)		0	325	75	324
Net Income (Loss)		28,166	13,465	138,189	31,788
Noncontrolling interests in income (loss) of consolidated subsidiaries		13,325	0	27,955	0
Net Income Attributable to Common Stockholders		14,841	13,465	110,234	31,788
Investments		1,821,979		1,821,979
Cash and cash equivalents		15,022		15,022
Restricted cash		59,822		59,822
Other assets		48,533		48,533
Total assets		1,945,356		1,945,356
Debt		1,707,197		1,707,197
Other liabilities		5,519		5,519
Total liabilities		1,712,716		1,712,716
Total equity		232,640		232,640
Noncontrolling interests in equity of consolidated subsidiaries		107,067		107,067
Total New Residential stockholders’ equity		125,573		125,573
Investments in equity method investees		0		0
Corporate [Member]
Segment Reporting Information [Line Items]
Interest income		379	857	1,699	1,822
Interest expense		0	0	0	4,196
Net interest income (expense)		379	857	1,699	(2,374)
Impairment		0	0	0	0
Other income (loss)		0	0	15	(2,880)
Operating expenses		22,414	18,716	59,034	61,500
Income (Loss) Before Income Taxes		(22,035)	(17,859)	(57,320)	(66,754)
Income tax expense (benefit)		(4)	0	0	0
Net Income (Loss)		(22,031)	(17,859)	(57,320)	(66,754)
Noncontrolling interests in income (loss) of consolidated subsidiaries		0	0	0	(5,158)
Net Income Attributable to Common Stockholders		(22,031)	$ (17,859)	(57,320)	$ (61,596)
Investments		0		0
Cash and cash equivalents		229,234		229,234
Restricted cash		0		0
Other assets		20,403		20,403
Total assets		249,637		249,637
Debt		0		0
Other liabilities		141,000		141,000
Total liabilities		141,000		141,000
Total equity		108,637		108,637
Noncontrolling interests in equity of consolidated subsidiaries		0		0
Total New Residential stockholders’ equity		108,637		108,637
Investments in equity method investees		$ 0		$ 0
[1]	Net of deferred financing costs.

INVESTMENTS IN EXCESS MORTGAG52

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Schedule of Activity Related to the Carrying Value of Investments in Excess MSRs (Details) - Excess MSRs [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Carrying Value of Investments in Excess MSRs
Beginning balance	$ 1,581,517	[1]
Purchases	0
Interest income	106,848
Other income	2,188
Proceeds from repayments	(262,104)
Change in fair value	(24,397)
Ending balance	1,404,052	[1]
Nationstar [Member]
Carrying Value of Investments in Excess MSRs
Beginning balance	698,304
Purchases	0
Interest income	47,049
Other income	2,188
Proceeds from repayments	(111,999)
Change in fair value	(9,521)
Ending balance	626,021
SLS [Member]
Carrying Value of Investments in Excess MSRs
Beginning balance	5,307	[2]
Purchases	0	[2]
Interest income	(16)	[2]
Other income	0	[2]
Proceeds from repayments	(796)	[2]
Change in fair value	(86)	[2]
Ending balance	4,409	[2]
Ocwen [Member]
Carrying Value of Investments in Excess MSRs
Beginning balance	877,906	[3]
Purchases	0	[3]
Interest income	59,815	[3]
Other income	0	[3]
Proceeds from repayments	(149,309)	[3]
Change in fair value	(14,790)	[3]
Ending balance	$ 773,622	[3]
[1]	Carrying Value represents the fair value of the pools or recapture agreements, as applicable.
[2]	Specialized Loan Servicing LLC (“SLS”).
[3]	Ocwen Loan Servicing LLC, a subsidiary of Ocwen Financial Corporation (together with its subsidiaries, including Ocwen Loan Servicing LLC, “Ocwen”), services the loans underlying the Excess MSRs and Servicer Advances acquired from HLSS.

INVESTMENTS IN EXCESS MORTGAG53

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Narrative (Details) - USD ($) $ in Thousands	Jan. 04, 2016	Sep. 30, 2016	Sep. 30, 2016
Excess MSRs Investees [Member]
Investment [Line Items]
UPB of Underlying Mortgages		$ 63,834,062	$ 63,834,062
Excess MSRs Investees [Member] | MSRs [Member]
Investment [Line Items]
Weighted average discount rate, used to value investments in excess MSRs		9.80%	9.80%
Fannie Mae [Member] | Excess MSRs [Member]
Investment [Line Items]
Purchase of servicer advance investments	$ 2,000
Percentage of Excess MSRs acquired	66.70%
UPB of Underlying Mortgages	$ 17,200,000
Fannie Mae [Member] | Excess MSRs [Member] | Nationstar [Member]
Investment [Line Items]
Percentage of Excess MSRs acquired	33.30%

INVESTMENTS IN EXCESS MORTGAG54

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Summary of Direct Investments in Excess MSRs (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Investment [Line Items]
Weighted Average Life (Years)				11 months 13 days
Principal investment gain (loss)		$ (17,060)	$ 1,131	$ (24,397)	$ (274)
Servicer Advance Joint Venture [Member] | Servicer Advances [Member]
Investment [Line Items]
UPB of Underlying Mortgages	[1]	194,223,701		194,223,701		$ 220,256,804
Original and Recaptured Pools [Member]
Investment [Line Items]
Principal investment gain (loss)		(15,395)	1,485	(28,392)	(3,933)
Recapture Agreements [Member]
Investment [Line Items]
Principal investment gain (loss)		(1,665)	$ (354)	3,995	$ 3,659
Excess MSRs [Member]
Investment [Line Items]
UPB of Underlying Mortgages		290,291,012		$ 290,291,012
Weighted Average Life (Years)	[2]			6 years 3 months 18 days
Amortized Cost Basis	[3]	1,280,285		$ 1,280,285
Carrying Value	[4]	1,404,052		1,404,052		1,581,517
Excess MSRs [Member] | Nationstar [Member]
Investment [Line Items]
Carrying Value		626,021		626,021		698,304
Excess MSRs [Member] | Agency [Member]
Investment [Line Items]
UPB of Underlying Mortgages		82,159,586		$ 82,159,586
Weighted Average Life (Years)	[2]			6 years 4 months 24 days
Amortized Cost Basis	[3]	330,958		$ 330,958
Carrying Value	[4]	388,764		388,764		437,201
Excess MSRs [Member] | Agency [Member] | Original and Recaptured Pools [Member]
Investment [Line Items]
UPB of Underlying Mortgages		82,159,586		$ 82,159,586
Weighted Average Life (Years)	[2]			5 years 10 months 24 days
Amortized Cost Basis	[3]	302,541		$ 302,541
Carrying Value	[4]	$ 333,816		$ 333,816		378,083
Excess MSRs [Member] | Agency [Member] | Original and Recaptured Pools [Member] | Minimum [Member]
Investment [Line Items]
Interest in Excess MSR		32.50%		32.50%
Excess MSRs [Member] | Agency [Member] | Original and Recaptured Pools [Member] | Maximum [Member]
Investment [Line Items]
Interest in Excess MSR		66.70%		66.70%
Excess MSRs [Member] | Agency [Member] | Original and Recaptured Pools [Member] | Weighted Average [Member]
Investment [Line Items]
Interest in Excess MSR		53.30%		53.30%
Excess MSRs [Member] | Agency [Member] | Recapture Agreements [Member]
Investment [Line Items]
UPB of Underlying Mortgages		$ 0		$ 0
Weighted Average Life (Years)	[2]			11 years 10 months 24 days
Amortized Cost Basis	[3]	28,417		$ 28,417
Carrying Value	[4]	$ 54,948		$ 54,948		59,118
Excess MSRs [Member] | Agency [Member] | Recapture Agreements [Member] | Minimum [Member]
Investment [Line Items]
Interest in Excess MSR		32.50%		32.50%
Excess MSRs [Member] | Agency [Member] | Recapture Agreements [Member] | Maximum [Member]
Investment [Line Items]
Interest in Excess MSR		66.70%		66.70%
Excess MSRs [Member] | Agency [Member] | Recapture Agreements [Member] | Weighted Average [Member]
Investment [Line Items]
Interest in Excess MSR		53.70%		53.70%
Excess MSRs [Member] | Agency [Member] | Fortress [Member] | Original and Recaptured Pools [Member] | Minimum [Member]
Investment [Line Items]
Interest in Excess MSR		0.00%		0.00%
Excess MSRs [Member] | Agency [Member] | Fortress [Member] | Original and Recaptured Pools [Member] | Maximum [Member]
Investment [Line Items]
Interest in Excess MSR		40.00%		40.00%
Excess MSRs [Member] | Agency [Member] | Fortress [Member] | Recapture Agreements [Member] | Minimum [Member]
Investment [Line Items]
Interest in Excess MSR		0.00%		0.00%
Excess MSRs [Member] | Agency [Member] | Fortress [Member] | Recapture Agreements [Member] | Maximum [Member]
Investment [Line Items]
Interest in Excess MSR		40.00%		40.00%
Excess MSRs [Member] | Agency [Member] | Nationstar [Member] | Original and Recaptured Pools [Member] | Minimum [Member]
Investment [Line Items]
Interest in Excess MSR		20.00%		20.00%
Excess MSRs [Member] | Agency [Member] | Nationstar [Member] | Original and Recaptured Pools [Member] | Maximum [Member]
Investment [Line Items]
Interest in Excess MSR		35.00%		35.00%
Excess MSRs [Member] | Agency [Member] | Nationstar [Member] | Recapture Agreements [Member] | Minimum [Member]
Investment [Line Items]
Interest in Excess MSR		20.00%		20.00%
Excess MSRs [Member] | Agency [Member] | Nationstar [Member] | Recapture Agreements [Member] | Maximum [Member]
Investment [Line Items]
Interest in Excess MSR		35.00%		35.00%
Excess MSRs [Member] | Non-Agency [Member]
Investment [Line Items]
UPB of Underlying Mortgages	[5]	$ 208,131,426		$ 208,131,426
Weighted Average Life (Years)	[2],[5]			6 years 3 months 18 days
Amortized Cost Basis	[3],[5]	949,327		$ 949,327
Carrying Value	[4],[5]	1,015,288		1,015,288		1,144,316
Excess MSRs [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member]
Investment [Line Items]
UPB of Underlying Mortgages	[5]	82,010,764		$ 82,010,764
Weighted Average Life (Years)	[2],[5]			5 years 3 months 18 days
Amortized Cost Basis	[3],[5]	190,184		$ 190,184
Carrying Value	[4],[5]	$ 227,883		$ 227,883		250,662
Excess MSRs [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member] | Minimum [Member]
Investment [Line Items]
Interest in Excess MSR	[6]	33.30%		33.30%
Excess MSRs [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member] | Maximum [Member]
Investment [Line Items]
Interest in Excess MSR	[6]	80.00%		80.00%
Excess MSRs [Member] | Non-Agency [Member] | Original and Recaptured Pools [Member] | Weighted Average [Member]
Investment [Line Items]
Interest in Excess MSR	[6]	59.30%		59.30%
Excess MSRs [Member] | Non-Agency [Member] | Recapture Agreements [Member]
Investment [Line Items]
UPB of Underlying Mortgages	[5]	$ 0		$ 0
Weighted Average Life (Years)	[2],[5]			12 years 1 month 6 days
Amortized Cost Basis	[3],[5]	12,210		$ 12,210
Carrying Value	[4],[5]	$ 13,783		$ 13,783		15,748
Excess MSRs [Member] | Non-Agency [Member] | Recapture Agreements [Member] | Minimum [Member]
Investment [Line Items]
Interest in Excess MSR	[6]	33.30%		33.30%
Excess MSRs [Member] | Non-Agency [Member] | Recapture Agreements [Member] | Maximum [Member]
Investment [Line Items]
Interest in Excess MSR	[6]	80.00%		80.00%
Excess MSRs [Member] | Non-Agency [Member] | Recapture Agreements [Member] | Weighted Average [Member]
Investment [Line Items]
Interest in Excess MSR	[6]	56.80%		56.80%
Excess MSRs [Member] | Non-Agency [Member] | Ocwen Serviced Pools [Member]
Investment [Line Items]
UPB of Underlying Mortgages	[5]	$ 126,120,662		$ 126,120,662
Interest in Excess MSR	[5],[6]	100.00%		100.00%
Weighted Average Life (Years)	[2],[5]			6 years 4 months 24 days
Amortized Cost Basis	[3],[5]	$ 746,933		$ 746,933
Carrying Value	[4],[5]	$ 773,622		$ 773,622		$ 877,906
Excess MSRs [Member] | Non-Agency [Member] | Fortress [Member] | Original and Recaptured Pools [Member] | Minimum [Member]
Investment [Line Items]
Interest in Excess MSR	[5]	0.00%		0.00%
Excess MSRs [Member] | Non-Agency [Member] | Fortress [Member] | Original and Recaptured Pools [Member] | Maximum [Member]
Investment [Line Items]
Interest in Excess MSR	[5]	50.00%		50.00%
Excess MSRs [Member] | Non-Agency [Member] | Fortress [Member] | Recapture Agreements [Member] | Minimum [Member]
Investment [Line Items]
Interest in Excess MSR	[5]	0.00%		0.00%
Excess MSRs [Member] | Non-Agency [Member] | Fortress [Member] | Recapture Agreements [Member] | Maximum [Member]
Investment [Line Items]
Interest in Excess MSR	[5]	50.00%		50.00%
Excess MSRs [Member] | Non-Agency [Member] | Fortress [Member] | Ocwen Serviced Pools [Member]
Investment [Line Items]
Interest in Excess MSR	[5]	0.00%		0.00%
Excess MSRs [Member] | Non-Agency [Member] | Nationstar [Member] | Original and Recaptured Pools [Member] | Minimum [Member]
Investment [Line Items]
Interest in Excess MSR	[5]	0.00%		0.00%
Excess MSRs [Member] | Non-Agency [Member] | Nationstar [Member] | Original and Recaptured Pools [Member] | Maximum [Member]
Investment [Line Items]
Interest in Excess MSR	[5]	33.30%		33.30%
Excess MSRs [Member] | Non-Agency [Member] | Nationstar [Member] | Recapture Agreements [Member] | Minimum [Member]
Investment [Line Items]
Interest in Excess MSR	[5]	0.00%		0.00%
Excess MSRs [Member] | Non-Agency [Member] | Nationstar [Member] | Recapture Agreements [Member] | Maximum [Member]
Investment [Line Items]
Interest in Excess MSR	[5]	33.30%		33.30%
Excess MSRs [Member] | Non-Agency [Member] | Nationstar [Member] | Ocwen Serviced Pools [Member]
Investment [Line Items]
Interest in Excess MSR	[5]	0.00%		0.00%
[1]	The following types of advances comprise the investments in Servicer Advances: September 30, 2016December 31, 2015Principal and interest advances$1,651,576$2,229,468Escrow advances (taxes and insurance advances)2,786,2033,687,559Foreclosure advances1,580,1891,661,083Total$6,017,968 $7,578,110
[2]	Weighted Average Life represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[3]	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.
[4]	Carrying Value represents the fair value of the pools or recapture agreements, as applicable.
[5]	New Residential also invested in the related Servicer Advances, including the basic fee component of the related MSR as of September 30, 2016 (Note 6) on $194.2 billion UPB underlying these Excess MSRs.
[6]	Amounts in parentheses represent weighted averages.

INVESTMENTS IN EXCESS MORTGAG55

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Summary of the Geographic Distribution of the Underlying Residential Mortgage Loans of the Direct Investments in Excess MSRs (Details) - Mortgage Loans [Member] - MSRs [Member]	Sep. 30, 2016	Dec. 31, 2015
Concentration Risk [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	100.00%	100.00%
California [Member]
Concentration Risk [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	26.40%	26.70%
Florida [Member]
Concentration Risk [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	8.80%	8.90%
New York [Member]
Concentration Risk [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	8.10%	7.80%
Texas [Member]
Concentration Risk [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	4.20%	4.30%
New Jersey [Member]
Concentration Risk [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	4.10%	4.10%
Maryland [Member]
Concentration Risk [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	3.80%	3.80%
Massachusetts [Member]
Concentration Risk [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	2.70%	2.70%
Illinois [Member]
Concentration Risk [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	3.40%	3.40%
Virginia [Member]
Concentration Risk [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	3.10%	3.10%
Washington [Member]
Concentration Risk [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	2.60%	2.70%
Other U.S. [Member]
Concentration Risk [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	32.80%	32.50%

INVESTMENTS IN EXCESS MORTGAG56

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES - Summary of the Financial Results of Excess MSR Joint Ventures, Accounted for as Equity Method Investees (Details) - Excess MSRs Investees [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Excess MSR assets	$ 374,962		$ 374,962		$ 421,999
Other assets	16,846		16,846		12,442
Other liabilities	0		0		0
Equity	391,808		391,808		434,441
New Residential’s investment	$ 195,904		$ 195,904		$ 217,221
New Residential’s ownership	50.00%		50.00%		50.00012%
Interest income	$ 12,205	$ 12,399	$ 24,526	$ 33,316
Other income (loss)	339	4,492	(7,244)	(348)
Expenses	(22)	(38)	(66)	(82)
Net income	$ 12,522	$ 16,853	$ 17,216	$ 32,886

INVESTMENTS IN EXCESS MORTGAG57

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES - Summary of the Financial Results of Excess MSR Joint Ventures, Accounted for as Equity Method Investees - Roll Forward (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Increase (Decrease) in Equity Method Investments [Roll Forward]
Distributions of capital from equity method investees	$ (11,900)	$ (3,867)
Recurring Basis [Member]
Increase (Decrease) in Equity Method Investments [Roll Forward]
Beginning balance	217,221
Contributions to equity method investees	0
Distributions of earnings from equity method investees	(18,025)
Distributions of capital from equity method investees	(11,900)
Change in fair value of investments in equity method investees	8,608
Ending balance	$ 195,904

INVESTMENTS IN EXCESS MORTGAG58

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES - Summary of Excess MSR Investments made through Equity Method Investees (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Weighted Average Life (Years)		11 months 13 days
Excess MSRs Investees [Member]
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance		$ 63,834,062
New Residential Interest in Investees		50.00%	50.00012%
Amortized Cost Basis	[1]	$ 282,544
Carrying Value	[2]	$ 374,962
Weighted Average Life (Years)	[3]	6 years 5 months 7 days
Excess MSRs Investees [Member] | MSRs [Member]
Schedule of Equity Method Investments [Line Items]
New Residential Interest in Investees		50.00%
Excess MSRs Investees [Member] | Agency [Member] | Original and Recaptured Pools [Member]
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance		$ 63,834,062
Investee Interest in Excess MSR	[4]	66.70%
New Residential Interest in Investees		50.00%
Amortized Cost Basis	[1]	$ 249,388
Carrying Value	[2]	$ 314,265
Weighted Average Life (Years)	[3]	5 years 8 months 25 days
Excess MSRs Investees [Member] | Agency [Member] | Recapture Agreements [Member]
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance		$ 0
Investee Interest in Excess MSR	[4]	66.70%
New Residential Interest in Investees		50.00%
Amortized Cost Basis	[1]	$ 33,156
Carrying Value	[2]	$ 60,697
Weighted Average Life (Years)	[3]	11 years 8 months 16 days
[1]	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.
[2]	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.
[3]	The weighted average life represents the weighted average expected timing of the receipt of cash flows of each investment.
[4]	The remaining interests are held by Nationstar.

INVESTMENTS IN EXCESS MORTGAG59

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES - Narrative (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Excess MSRs Investees [Member] | MSRs [Member]
Schedule of Equity Method Investments [Line Items]
Weighted average discount rate, used to value investments in excess MSRs	9.80%	9.80%

INVESTMENTS IN EXCESS MORTGAG60

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS, EQUITY METHOD INVESTEES - Summary of the Geographic Distribution of the Underlying Residential Mortgage Loans of the Excess MSR Investments made through Equity Method Investees (Details) - Mortgage Loans [Member] - Excess MSRs Investees [Member]	Sep. 30, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	100.00%	100.00%
California [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	12.80%	12.90%
Florida [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	7.30%	7.40%
Texas [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	6.10%	6.10%
New York [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	6.00%	5.80%
Georgia [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	5.70%	5.70%
New Jersey [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	4.20%	4.30%
Illinois [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	4.10%	4.00%
Maryland [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	3.30%	3.20%
Virginia [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	3.20%	3.20%
Pennsylvania [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	3.20%	3.10%
Other U.S. [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount as of	44.10%	44.30%

INVESTMENTS IN SERVICER ADVAN61

INVESTMENTS IN SERVICER ADVANCES - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2014
Advance Purchaser LLC [Member]
Investment [Line Items]
Capital distributed to third-party co-investors	$ 277.5
Capital distributed to New Residential	$ 222.8
Nationstar [Member]
Investment [Line Items]
Servicer basic fee, percent	9.30%
Performance fee, percent (up to)	100.00%
SLS [Member]
Investment [Line Items]
Servicing fee basis points	0.1075%
SLS [Member] | Excess MSRs [Member]
Investment [Line Items]
Percentage of Excess MSRs acquired		50.00%
Fortress [Member] | Excess MSRs [Member]
Investment [Line Items]
Percentage of additional Excess MSRs acquired		50.00%
Ocwen [Member]
Investment [Line Items]
Servicing asset fee, percent	12.00%
Servicing fee basis points	0.06%
Ocwen [Member] | London Interbank Offered Rate (LIBOR) [Member]
Investment [Line Items]
Variable interest rate spread	2.75%
Servicer Advance Joint Venture [Member]
Investment [Line Items]
New Residential’s ownership	44.50%
Funded capital commitments	$ 312.7
Servicer Advance Joint Venture [Member] | Noncontrolling Third-party Investors [Member]
Investment [Line Items]
Funded capital commitments	$ 389.6

INVESTMENTS IN SERVICER ADVAN62

INVESTMENTS IN SERVICER ADVANCES - Summary of Investments in Servicer Advances (Details) - Servicer Advance Joint Venture [Member] - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Investments in and Advances to Affiliates [Line Items]
Amortized Cost Basis	[1]	$ 6,012,315		$ 6,012,315		$ 7,400,068
Carrying Value	[1],[2]	$ 6,043,369		$ 6,043,369		$ 7,426,794
Weighted Average Discount Rate	[1]	5.40%		5.40%		5.60%
Weighted Average Yield	[1]	5.30%		5.30%		5.50%
Weighted Average Life (Years)	[1],[3]			4 years 5 months 24 days		4 years 4 months 27 days
Asset-backed securities, face amount, collateralized by servicer advances		$ 249,000		$ 249,000		$ 431,000
Asset-backed securities, carrying value, collateralized by servicer advances		250,700		250,700		$ 430,300
Changes in Fair Value Recorded in Other Income		$ 21,606	$ (18,738)	$ 4,328	$ (1,845)
[1]	Excludes New Residential asset-backed securities collateralized by Servicer Advances, which have aggregate face amounts of $249.0 million and $431.0 million and aggregate carrying values of $250.7 million and $430.3 million as of September 30, 2016 and December 31, 2015, respectively. See Note 7 for details related to these securities
[2]	Carrying value represents the fair value of the investments in Servicer Advances, including the basic fee component of the related MSRs.
[3]	Weighted Average Life represents the weighted average expected timing of the receipt of expected net cash flows for this investment.

INVESTMENTS IN SERVICER ADVAN63

INVESTMENTS IN SERVICER ADVANCES - Summary of Investments in Servicer Advances - Additional Information (Details) - USD ($)		Sep. 30, 2016	Dec. 31, 2015
Investments in and Advances to Affiliates [Line Items]
Outstanding Servicer Advances	[1]	$ 6,043,369,000	$ 7,426,794,000
Face Amount of Notes and Bonds Payable		12,782,716,000
Non-Agency Bonds [Member]
Investments in and Advances to Affiliates [Line Items]
Face Amount of Notes and Bonds Payable		110,100,000
Servicer Advance Joint Venture [Member] | Servicer Advances [Member]
Investments in and Advances to Affiliates [Line Items]
UPB of Underlying Mortgages	[2]	194,223,701,000	220,256,804,000
Outstanding Servicer Advances	[2]	$ 6,017,968,000	$ 7,578,110,000
Servicer Advances to UPB of Underlying Residential Mortgage Loans	[2]	3.10%	3.40%
Face Amount of Notes and Bonds Payable	[2]	$ 5,907,803,000	$ 7,058,094,000
Gross Loan-to-Value	[2],[3]	94.50%	91.20%
Net Loan-to-Value	[2],[3],[4]	93.30%	90.20%
Gross Cost of Funds	[2],[5]	3.50%	3.40%
Net Cost of Funds	[2],[5]	2.80%	2.60%
Gross LTV, including deferred servicing fees		89.70%
Net LTV, including deferred servicing fees		88.60%
Gross LTV, if sold		96.30%
Net LTV, if sold		95.10%
Servicer Advance Joint Venture [Member] | Non-Agency Bonds [Member]
Investments in and Advances to Affiliates [Line Items]
Retained non-agency bonds, face amount		$ 110,100,000
[1]	New Residential’s Condensed Consolidated Balance Sheets include the assets and liabilities of certain consolidated VIEs, the Buyer (Note 6) and the Consumer Loan SPVs (Note 9), which primarily hold investments in servicer advances and consumer loans, respectively, financed with notes and bonds payable. The Buyer’s balance sheet is included in Note 6 and the Consumer Loan SPVs’ balance sheet is included in Note 9. The creditors of the Buyer and the Consumer Loan SPVs do not have recourse to the general credit of New Residential and the assets of the Buyer and the Consumer Loan SPVs are not directly available to satisfy New Residential’s obligations.
[2]	The following types of advances comprise the investments in Servicer Advances: September 30, 2016December 31, 2015Principal and interest advances$1,651,576$2,229,468Escrow advances (taxes and insurance advances)2,786,2033,687,559Foreclosure advances1,580,1891,661,083Total$6,017,968 $7,578,110
[3]	Based on outstanding Servicer Advances, excluding purchased but unsettled Servicer Advances and certain deferred servicing fees (“DSF”) on which New Residential receives financing. If New Residential were to include these DSF in the servicer advance balance, gross and net LTV as of September 30, 2016 would be 89.7% and 88.6%, respectively. Also excludes retained non-agency bonds with a current face amount of $110.1 million from the outstanding Servicer Advances debt. If New Residential were to sell these bonds, gross and net LTV as of September 30, 2016 would be 96.3% and 95.1%, respectively.
[4]	Ratio of face amount of borrowings to par amount of servicer advance collateral, net of any general reserve.
[5]	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 ADVAN64

INVESTMENTS IN SERVICER ADVANCES - Summary of Investments in Servicer Advances - Components of Funded Advances (Details) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Investment [Line Items]
Total	[1]	$ 6,043,369	$ 7,426,794
Servicer Advance Joint Venture [Member] | Servicer Advances [Member]
Investment [Line Items]
Principal and interest advances		1,651,576	2,229,468
Escrow advances (taxes and insurance advances)		2,786,203	3,687,559
Foreclosure advances		1,580,189	1,661,083
Total	[2]	$ 6,017,968	$ 7,578,110
[1]	New Residential’s Condensed Consolidated Balance Sheets include the assets and liabilities of certain consolidated VIEs, the Buyer (Note 6) and the Consumer Loan SPVs (Note 9), which primarily hold investments in servicer advances and consumer loans, respectively, financed with notes and bonds payable. The Buyer’s balance sheet is included in Note 6 and the Consumer Loan SPVs’ balance sheet is included in Note 9. The creditors of the Buyer and the Consumer Loan SPVs do not have recourse to the general credit of New Residential and the assets of the Buyer and the Consumer Loan SPVs are not directly available to satisfy New Residential’s obligations.
[2]	The following types of advances comprise the investments in Servicer Advances: September 30, 2016December 31, 2015Principal and interest advances$1,651,576$2,229,468Escrow advances (taxes and insurance advances)2,786,2033,687,559Foreclosure advances1,580,1891,661,083Total$6,017,968 $7,578,110

INVESTMENTS IN SERVICER ADVAN65

INVESTMENTS IN SERVICER ADVANCES - Schedule of Interest Income Related to Investments in Servicer Advances (Details) - Servicer Advance Investments [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Investment [Line Items]
Interest income, gross of amounts attributable to servicer compensation	$ 161,601	$ 221,613	$ 581,231	$ 511,931
Amounts attributable to base servicer compensation	(15,276)	(26,553)	(68,184)	(65,111)
Amounts attributable to incentive servicer compensation	(45,197)	(89,952)	(255,170)	(190,775)
Interest income from investments in Servicer Advances	$ 101,128	$ 105,108	$ 257,877	$ 256,045

INVESTMENTS IN SERVICER ADVAN66

INVESTMENTS IN SERVICER ADVANCES - Summary of Information on the Assets and Liabilities related to Consolidated VIE (Details) - VIE, consolidated [Member] - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Assets
Servicer advance investments, at fair value		$ 1,903,067	$ 2,344,245
Cash and cash equivalents		35,000	40,761
All other assets		22,229	25,092
Total assets	[1]	1,960,296	2,410,098
Liabilities
Notes and bonds payable		1,625,956	2,060,347
All other liabilities		6,119	6,111
Total liabilities	[1]	$ 1,632,075	$ 2,066,458
[1]	The creditors of the Buyer do not have recourse to the general credit of New Residential and the assets of the Buyer are not directly available to satisfy New Residential’s obligations.

INVESTMENTS IN SERVICER ADVAN67

INVESTMENTS IN SERVICER ADVANCES - Schedule of Interest Income Related to Investments in Servicer Advances - Others' Interests (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Servicer Advance Joint Venture [Member]
Investment [Line Items]
Investment		$ 328,221		$ 328,221		$ 343,640
Ownership interest		44.50%		44.50%
Net income in joint venture		$ 33,985	$ 12,960	$ 60,207	$ 40,258
Average ownership percentage		44.50%	44.50%	44.50%	44.50%
Others [Member]
Investment [Line Items]
Investment		$ 182,094		$ 182,094		$ 190,647
Ownership interest		55.50%		55.50%		55.50%
Net income in joint venture		$ 18,853	$ 7,193	$ 33,400	$ 22,332
Others' ownership interest as a percent of total	[1]	55.50%	55.50%	55.50%	55.50%
[1]	As a result, New Residential owned 44.5% and 44.5% of the Buyer, on average during the three months ended September 30, 2016 and 2015, respectively, and 44.5% and 44.5% of the Buyer, on average during the nine months ended September 30, 2016 and 2015, respectively.

INVESTMENTS IN REAL ESTATE SE68

INVESTMENTS IN REAL ESTATE SECURITIES - Summary of Real Estate Securities (Details) $ in Thousands		9 Months Ended
		Sep. 30, 2016USD ($)securitybond		Dec. 31, 2015USD ($)
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount		$ 8,027,852
Amortized Cost Basis		4,884,599
Carrying Value		$ 4,991,242		$ 2,501,881
Weighted Average Life (Years)		11 months 13 days
Number of bonds which New Residential was unable to obtain rating information | bond		187
Investments		$ 15,222,486
Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Investments		566,900
Residual Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Investments		243,500
Non-Agency Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Investments		0
Agency RMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Face amount of securities purchased		5,070,300
Purchase price of securities purchased		5,315,900
Face amount of securities sold		4,530,600
Amortized cost of securities sold		4,721,800
Proceeds from Sale of Available-for-sale Securities		4,757,800
Gain (Loss) on sale of securities sold		36,000
Outstanding Face Amount	[1],[2]	1,356,580
Amortized Cost Basis	[1],[2]	1,437,777
Gross Unrealized Gains	[1],[2]	337
Gross Unrealized Losses	[1],[2]	(3,806)
Carrying Value	[1],[2]	$ 1,434,308	[3]	917,598
Number of Securities | security	[1],[2]	76
Weighted Average Rating	[1],[2],[4]	AAA
Weighted Average Coupon	[1],[2],[5]	3.42%
Weighted Average Yield	[1],[2]	2.79%
Weighted Average Life (Years)	[1],[2],[6]	5 years 7 months 10 days
Agency RMBS [Member] | Fixed Rate Residential Mortgage [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount		$ 1,200,000
Agency RMBS [Member] | Adjustable Rate Residential Mortgage [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount		151,900
Non-Agency RMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Face amount of securities purchased		4,079,900
Purchase price of securities purchased		2,298,400
Face amount of securities sold		129,800
Amortized cost of securities sold		121,700
Proceeds from Sale of Available-for-sale Securities		100,800
Gain (Loss) on sale of securities sold		(20,900)
Outstanding Face Amount	[7],[8],[9]	6,671,272
Amortized Cost Basis	[7],[8],[9]	3,446,822
Gross Unrealized Gains	[8],[9]	122,171
Gross Unrealized Losses	[8],[9]	(12,059)
Carrying Value	[8],[9]	$ 3,556,934	[3]	1,584,283
Number of Securities | security	[8],[9]	471
Weighted Average Rating	[4],[8],[9]	CCC-
Weighted Average Coupon	[5],[8],[9]	1.76%
Weighted Average Yield	[8],[9]	5.46%
Weighted Average Life (Years)	[6],[8],[9]	7 years 7 days
Weighted Average Principal Subordination	[8],[9],[10]	10.80%
Non-Agency RMBS [Member] | Fixed Rate Residential Mortgage [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount		$ 1,100,000
Residual and interest - only notional amount		300,000
Non-Agency RMBS [Member] | Adjustable Rate Residential Mortgage [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount		5,600,000
Residual and interest - only notional amount		2,000,000
Investments in Real Estate Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount		8,027,852
Amortized Cost Basis		4,884,599
Gross Unrealized Gains		122,508
Gross Unrealized Losses		(15,865)
Carrying Value		$ 4,991,242	[3]	$ 2,501,881
Number of Securities | security		547
Weighted Average Rating	[4]	CCC+
Weighted Average Coupon	[5]	2.21%
Weighted Average Yield		4.68%
Weighted Average Life (Years)	[6]	6 years 7 months 8 days
Other ABS [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount		$ 1,975,404
Amortized Cost Basis		110,267
Gross Unrealized Gains		6,048
Gross Unrealized Losses		(4,927)
Carrying Value		$ 111,388
Number of Securities | security		25
Weighted Average Rating		AA+
Weighted Average Coupon		1.91%
Weighted Average Yield		5.57%
Weighted Average Life (Years)		2 years 10 months 9 days
Servicer Advances [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount		$ 249,000
Amortized Cost Basis		248,696
Gross Unrealized Gains		2,025
Gross Unrealized Losses		0
Carrying Value		$ 250,721
Number of Securities | security		3
Weighted Average Rating		AAA
Weighted Average Coupon		2.81%
Weighted Average Yield		2.21%
Weighted Average Life (Years)		24 days
[1]	Includes securities issued or guaranteed by U.S. Government agencies such as Fannie Mae or Freddie Mac.
[2]	The total outstanding face amount was $1.2 billion for fixed rate securities and $151.9 million for floating rate securities as of September 30, 2016.
[3]	Fair value, which is equal to carrying value for all securities. See Note 12 regarding the estimation of fair value.
[4]	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 187 bonds with a carrying value of $566.9 million which either have never been rated or for which rating information is no longer provided. 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.
[5]	Excludes residual bonds, and certain other Non-Agency bonds, with a carrying value of $243.5 million and $0.0 million, respectively, for which no coupon payment is expected.
[6]	The weighted average life is based on the timing of expected principal reduction on the assets.
[7]	Includes New Residential’s investments in interest-only notes for which the fair value option for financial instruments was elected.
[8]	Includes other ABS consisting primarily of (i) interest-only securities which New Residential elected to carry at fair value and record changes to valuation through the income statement and (ii) bonds backed by servicer advances. Gross Unrealized Weighted AverageAsset Type Outstanding Face Amount Amortized Cost Basis Gains Losses Carrying Value Number of Securities Rating Coupon Yield Life (Years) Principal SubordinationOther ABS $1,975,404 $110,267 $6,048 $(4,927) $111,388 25 AA+ 1.91% 5.57% 2.9 N/AServicer Advance Bonds $249,000 $248,696 $2,025 $— $250,721 3 AAA 2.81% 2.21% 0.1 N/A
[9]	The total outstanding face amount was $1.1 billion (including $0.3 billion of residual and interest-only notional amount) for fixed rate securities and $5.6 billion (including $2.0 billion of residual and interest-only notional amount) for floating rate securities as of September 30, 2016.
[10]	Percentage of the amortized cost basis of securities that is subordinate to New Residential’s investments, excluding interest-only bonds and servicer advance bonds.

INVESTMENTS IN REAL ESTATE SE69

INVESTMENTS IN REAL ESTATE SECURITIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Schedule of Available-for-sale Securities [Line Items]
Other-than-temporary impairment	$ 1,765	$ 1,574	$ 7,838	$ 3,294
Real estate securities acquired during the period with credit quality deterioration, face amount			2,121,300
Real estate securities acquired during the period with credit quality deterioration, expected cash flows			2,131,500
Real estate securities acquired during the period with credit quality deterioration, fair value			1,329,000
Agency RMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Face amount of securities sold, unsettled			1,400,000
Face amount of securities purchased			1,200,000
Proceeds from sale of AFS, unsettled			1,521,100
Purchase of real estate securities, unsettled			1,300,000
Non-Agency RMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Face amount of securities sold, unsettled			27,000
Purchase of real estate securities, unsettled			$ 20,700

INVESTMENTS IN REAL ESTATE SE70

INVESTMENTS IN REAL ESTATE SECURITIES - Summary of Real Estate Securities in an Unrealized Loss Position (Details) $ in Thousands		9 Months Ended
		Sep. 30, 2016USD ($)bondsecurity	Dec. 31, 2015USD ($)
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount		$ 8,027,852
Other Than Temporary Impairment - Amortized Cost Basis		(13,081)	$ (6,240)
After Impairment - Amortized Cost Basis		4,884,599
Carrying Value - Total		$ 4,991,242
Weighted Average Life (Years)		11 months 13 days
Number of bonds which New Residential was unable to obtain rating information | bond		187
Securities in an Unrealized Loss Position Less than Twelve Months [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount		$ 2,905,125
Before Impairment - Amortized Cost Basis		1,723,246
Other Than Temporary Impairment - Amortized Cost Basis	[1]	(804)
After Impairment - Amortized Cost Basis		1,722,442
Gross Unrealized Losses - Less than Twelve Months		(11,824)
Carrying Value - Less than Twelve Months		$ 1,710,618
Number of Securities - Less than Twelve Months | security		204
Weighted Average Rating	[2]	B+
Weighted Average Coupon		2.51%
Weighted Average Yield		3.99%
Weighted Average Life (Years)		6 years 6 months 4 days
Number of bonds which New Residential was unable to obtain rating information | bond		84
Securities in an Unrealized Loss Position Twelve Months or More [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount		$ 291,088
Before Impairment - Amortized Cost Basis		229,368
Other Than Temporary Impairment - Amortized Cost Basis	[1]	(961)
After Impairment - Amortized Cost Basis		228,407
Gross Unrealized Losses - Twelve or More Months		(4,041)
Carrying Value - Twelve or More Months		$ 224,366
Number of Securities - Twelve or More Months | security		36
Weighted Average Rating	[2]	B+
Weighted Average Coupon		2.30%
Weighted Average Yield		2.99%
Weighted Average Life (Years)		5 years 2 months 27 days
Number of bonds which New Residential was unable to obtain rating information | bond		6
Securities in a Loss Position [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount		$ 3,196,213
Before Impairment - Amortized Cost Basis		1,952,614
Other Than Temporary Impairment - Amortized Cost Basis	[1]	(1,765)
After Impairment - Amortized Cost Basis		1,950,849
Gross Unrealized Losses - Total		(15,865)
Carrying Value - Total		$ 1,934,984
Number of Securities - Total | security		240
Weighted Average Rating	[2]	B+
Weighted Average Coupon		2.48%
Weighted Average Yield		3.87%
Weighted Average Life (Years)		6 years 4 months 11 days
[1]	This amount represents OTTI recorded on securities that are in an unrealized loss position as of September 30, 2016.
[2]	The weighted average rating of securities in an unrealized loss position for less than 12 months excludes the rating of 84 bonds which either have never been rated or for which rating information is no longer provided. The weighted average rating of securities in an unrealized loss position for 12 or more months excludes the rating of 6 bonds which either have never been rated or for which rating information is no longer provided.

INVESTMENTS IN REAL ESTATE SE71

INVESTMENTS IN REAL ESTATE SECURITIES - Summary of Real Estate Securities in an Unrealized Loss Position - Associated Intent to Sell (Details)	9 Months Ended
	Sep. 30, 2016USD ($)
Schedule of Available-for-sale Securities [Line Items]
Unrealized losses reflected in other comprehensive income	$ 0
Securities Intended to Sell [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]
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	[4]
Amortized Cost Basis After Impairment	0	[4]
Unrealized Credit Losses	0	[2],[4]
Securities No Intent to Sell and Not More Like Than Not to be Required to Sell - Credit Impaired [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	365,403,000
Amortized Cost Basis After Impairment	367,904,000
Unrealized Credit Losses	(1,765,000)	[2]
Unrealized Non-Credit Losses	(2,501,000)	[3]
Securities No Intent to Sell and Not More Like Than Not to be Required to Sell - Non-Credit Impaired [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	1,569,581,000
Amortized Cost Basis After Impairment	1,582,945,000
Unrealized Credit Losses	0	[2]
Unrealized Non-Credit Losses	(13,364,000)	[3]
Securities in an Unrealized Loss Position [Member]
Schedule of Available-for-sale Securities [Line Items]
Fair Value	1,934,984,000
Amortized Cost Basis After Impairment	1,950,849,000
Unrealized Credit Losses	(1,765,000)	[2]
Unrealized Non-Credit Losses	$ (15,865,000)	[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, 2016.
[2]	This amount is required to be recorded as OTTI through earnings. In measuring the portion of credit losses, New Residential 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 New Residential’s expectations of prepayment rates, 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.
[4]	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.

INVESTMENTS IN REAL ESTATE SE72

INVESTMENTS IN REAL ESTATE SECURITIES - Summary of Activity Related to Credit Losses on Debt Securities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
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	$ 6,240
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	2,505
Additions for credit losses on securities for which an OTTI was not previously recognized	5,333
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	0
Reduction for credit losses on securities for which no OTTI was recognized in other comprehensive income at the current measurement date	0
Reduction for securities sold during the period	(997)
Ending balance of credit losses on debt securities for which a portion of an OTTI was recognized in other comprehensive income	$ 13,081

INVESTMENTS IN REAL ESTATE SE73

INVESTMENTS IN REAL ESTATE SECURITIES - Summary of the Geographic Distribution of the Collateral Securing Non-Agency RMBS (Details) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Non-Agency RMBS [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount	[1]	$ 6,422,272	$ 3,102,973
Percentage of Total Outstanding	[1]	100.00%	100.00%
Non-Agency RMBS [Member] | Western U.S. [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount	[1]	$ 2,329,116	$ 1,097,609
Percentage of Total Outstanding	[1]	36.30%	35.30%
Non-Agency RMBS [Member] | Southeastern U.S. [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount	[1]	$ 1,496,049	$ 758,167
Percentage of Total Outstanding	[1]	23.20%	24.40%
Non-Agency RMBS [Member] | Northeastern U.S. [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount	[1]	$ 1,318,153	$ 583,366
Percentage of Total Outstanding	[1]	20.50%	18.80%
Non-Agency RMBS [Member] | Midwestern U.S. [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount	[1]	$ 716,411	$ 335,406
Percentage of Total Outstanding	[1]	11.20%	10.80%
Non-Agency RMBS [Member] | Southwestern U.S. [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount	[1]	$ 500,795	$ 309,236
Percentage of Total Outstanding	[1]	7.80%	10.00%
Non-Agency RMBS [Member] | Other U.S. [Member]
Schedule of Available-for-sale Securities [Line Items]
Outstanding Face Amount	[1],[2]	$ 61,748	$ 19,189
Percentage of Total Outstanding	[1],[2]	1.00%	0.70%
Servicer Advances [Member] | Bonds [Member]
Schedule of Available-for-sale Securities [Line Items]
Face amount of investment		$ 249,000
[1]	Excludes $249.0 million face amount of bonds backed by servicer advances.
[2]	Represents collateral for which New Residential was unable to obtain geographic information.

INVESTMENTS IN REAL ESTATE SE74

INVESTMENTS IN REAL ESTATE SECURITIES - Schedule of the Outstanding Face Amount and Carrying Value for Securities Uncollectible (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Outstanding Face Amount	$ 2,727,475	$ 873,763
Carrying Value	$ 1,754,467	$ 504,659

INVESTMENTS IN REAL ESTATE SE75

INVESTMENTS IN REAL ESTATE SECURITIES - Summary of Changes in Accretable Yield for Securities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Certain Loans Acquired in Transfer Accounted for as Available-for-sale Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance, beginning	$ 316,521
Additions	802,442
Accretion	(87,535)
Reclassifications from (to) non-accretable difference	44,905
Disposals	(1,129)
Balance, ending	$ 1,075,204

INVESTMENTS IN RESIDENTIAL MO76

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Schedule of Residential Mortgage Loans Outstanding by Loan Type, Excluding REO (Details) $ in Thousands		9 Months Ended
		Sep. 30, 2016USD ($)loan	Dec. 31, 2015USD ($)
Mortgage Loans on Real Estate [Line Items]
Weighted Average Life (Years)		11 months 13 days
Threshold period past due (in days)		60 days
Discount on borrowings, net of amortization		$ 4,800
Reverse Mortgage Loans, Held-For-Investment [Member]
Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	[1],[2]	0
Carrying Value	[1],[2]	$ 0	$ 19,560
Loan Count | loan	[1],[2]	0
Weighted Average Yield	[1],[2]	0.00%
Weighted Average Life (Years)		0 years
Floating Rate Loans as a % of Face Amount	[1],[2]	0.00%
Loan to Value Ratio (LTV)	[1],[2],[3]	0.00%
Weighted Average Delinquency	[1],[2],[4]	0.00%
Performing Loans [Member]
Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	[5],[6]	$ 0
Carrying Value	[5],[6]	$ 0	19,964
Loan Count | loan	[5],[6]	0
Weighted Average Yield	[5],[6]	0.00%
Weighted Average Life (Years)		0 years
Floating Rate Loans as a % of Face Amount	[5],[6]	0.00%
Loan to Value Ratio (LTV)	[3],[5],[6]	0.00%
Weighted Average Delinquency	[4],[5],[6]	0.00%
Weighted Average FICO	[5],[6],[7]	0
Performing Loans [Member] | Ginnie Mae [Member]
Mortgage Loans on Real Estate [Line Items]
Unpaid Principal Balance		$ 56,500
Performing Loans [Member] | Maximum [Member]
Mortgage Loans on Real Estate [Line Items]
Threshold period past due (in days)		30 days
Purchased Credit Deteriorated Loans [Member]
Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount		$ 0
Carrying Value		$ 0	290,654
Loan Count | loan		0
Weighted Average Yield		0.00%
Weighted Average Life (Years)		0 years
Floating Rate Loans as a % of Face Amount		0.00%
Loan to Value Ratio (LTV)	[3]	0.00%
Weighted Average Delinquency	[4]	0.00%
Weighted Average FICO	[7]	0
Residential Mortgage Loans, held-for-investment [Member]
Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount		$ 0
Carrying Value		$ 0	330,178
Loan Count | loan		0
Weighted Average Yield		0.00%
Weighted Average Life (Years)		0 years
Floating Rate Loans as a % of Face Amount		0.00%
Loan to Value Ratio (LTV)	[3]	0.00%
Weighted Average Delinquency	[4]	0.00%
Weighted Average FICO	[7]	0
Reverse Mortgage Loans, Held-For-Sale [Member]
Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	[1],[2]	$ 23,878
Carrying Value	[1],[2]	$ 11,836	0
Loan Count | loan	[1],[2]	77
Weighted Average Yield	[1],[2]	7.30%
Weighted Average Life (Years)	[1],[2],[8]	4 years 5 months 25 days
Floating Rate Loans as a % of Face Amount	[1],[2]	15.70%
Loan to Value Ratio (LTV)	[1],[2],[3]	134.20%
Weighted Average Delinquency	[1],[2],[4]	71.80%
Performing Loans, held-for-sale [Member]
Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	[5],[6],[9]	$ 103,234
Carrying Value	[5],[6],[9]	$ 107,167	277,084
Loan Count | loan	[5],[6],[9]	1,750
Weighted Average Yield	[5],[6],[9]	4.10%
Weighted Average Life (Years)	[5],[6],[8],[9]	4 years 1 month 28 days
Floating Rate Loans as a % of Face Amount	[5],[6],[9]	4.60%
Loan to Value Ratio (LTV)	[3],[5],[6],[9]	75.20%
Weighted Average Delinquency	[4],[5],[6],[9]	10.40%
Weighted Average FICO	[5],[6],[7],[9]	610
Non-Performing Loans, held-for-sale [Member]
Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	[9],[10]	$ 800,411
Carrying Value	[9],[10]	$ 586,478	499,597
Loan Count | loan	[9],[10]	4,280
Weighted Average Yield	[9],[10]	7.10%
Weighted Average Life (Years)	[8],[9],[10]	2 years 9 months 10 days
Floating Rate Loans as a % of Face Amount	[9],[10]	17.80%
Loan to Value Ratio (LTV)	[3],[9],[10]	102.80%
Weighted Average Delinquency	[4],[9],[10]	79.80%
Weighted Average FICO	[7],[9],[10]	579
Residential Mortgage Loans Held-for-Sale [Member]
Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount		$ 927,523
Carrying Value		$ 705,481	$ 776,681
Loan Count | loan		6,107
Weighted Average Yield		6.70%
Weighted Average Life (Years)	[8]	2 years 11 months 21 days
Floating Rate Loans as a % of Face Amount		16.20%
Loan to Value Ratio (LTV)	[3]	100.60%
Weighted Average Delinquency	[4]	71.90%
Weighted Average FICO	[7]	583
Reverse Mortgage Loans [Member]
Mortgage Loans on Real Estate [Line Items]
Interest in reverse mortgage loans		70.00%
Unpaid principal balance		$ 400
Percentage of loans that have reached a termination event		66.00%
Non-Performing Loans [Member] | Ginnie Mae [Member]
Mortgage Loans on Real Estate [Line Items]
Unpaid Principal Balance		$ 99,200
[1]	FICO scores are not used in determining how much a borrower can access via a reverse mortgage loan.
[2]	Represents a 70% participation interest that New Residential holds in a portfolio of reverse mortgage loans. The average loan balance outstanding based on total UPB is $0.4 million. Approximately 66% of these loans have reached a termination event. As a result of the termination event, each such loan has matured and the borrower can no longer make draws on these loans.
[3]	LTV refers to the ratio comparing the loan’s unpaid principal balance to the value of the collateral property.
[4]	Represents the percentage of the total principal balance that are 60+ days delinquent.
[5]	Includes loans that are current or less than 30 days past due at acquisition where New Residential expects to collect all contractually required principal and interest payments. Presented net of unamortized premiums of $4.8 million.
[6]	Performing loans are generally placed on nonaccrual status when principal or interest is 120 days or more past due.
[7]	The weighted average FICO score is based on the weighted average of information updated and provided by the loan servicer on a monthly basis.
[8]	The weighted average life is based on the expected timing of the receipt of cash flows.
[9]	Includes $56.5 million and $99.2 million UPB of Ginnie Mae EBO performing and non-performing loans, respectively, on accrual status because contractual cash flows are guaranteed by the FHA.
[10]	Includes loans with evidence of credit deterioration since origination where it is probable that New Residential will not collect all contractually required principal and interest payments. As of September 30, 2016, New Residential has placed all of these loans on nonaccrual status, except as described in (J) below.

INVESTMENTS IN RESIDENTIAL MO77

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Mortgage Loans on Real Estate [Line Items]
Threshold period past due (in days)	60 days
Government Guaranteed Mortgage Loans upon Foreclosure Receivable [Member]
Mortgage Loans on Real Estate [Line Items]
Claims receivable	$ 63.2
Reverse Mortgage Loans [Member]
Mortgage Loans on Real Estate [Line Items]
Interest in reverse mortgage loans	70.00%
Unpaid principal balance	$ 0.4
Residential Mortgage Loans [Member]
Mortgage Loans on Real Estate [Line Items]
Unpaid principal balance	$ 368.2

INVESTMENTS IN RESIDENTIAL MO78

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Summary of the Geographic Distribution of the Underlying Residential Mortgage Loans (Details) - Residential Mortgage Loans [Member]	Sep. 30, 2016	Dec. 31, 2015
Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	100.00%	100.00%
New York [Member]
Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	17.00%	14.50%
New Jersey [Member]
Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	10.40%	13.10%
Florida [Member]
Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	9.90%	10.70%
California [Member]
Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	8.50%	12.30%
Texas [Member]
Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	6.70%	3.30%
Illinois [Member]
Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.90%	4.30%
Maryland [Member]
Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	4.10%	3.50%
Massachusetts [Member]
Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.70%	3.30%
Pennsylvania [Member]
Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.10%	2.80%
Washington [Member]
Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.00%	3.20%
Other U.S. [Member]
Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	29.70%	29.00%

INVESTMENTS IN RESIDENTIAL MO79

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Schedule of Residential Mortgage Loan Transactions (Details) - Residential Mortgage Loans [Member] $ in Millions		Aug. 25, 2016USD ($)trust	May 25, 2016USD ($)trust	Dec. 23, 2015USD ($)trust	Sep. 30, 2016USD ($)	Mar. 25, 2016USD ($)trust
Investment [Line Items]
Number of Trusts Called | trust	[1]	11	12	14		13
Securities Owned Prior [Member]
Investment [Line Items]
Face Amount	[1]	$ 6.2	$ 60	$ 61.4		$ 58.4
Amortized Cost Basis	[1]	1.4	44	48		41
Assets Acquired [Member]
Investment [Line Items]
Unpaid Principal Balance	[1]	312.3	290.6	309.1		167.2
Loan Price	[1],[2]	319.2	298.7	315.1		173.3
REO & Other Price	[1],[2]	1.7	0.6	3.1		3.1
Loans Sold [Member]
Investment [Line Items]
Carrying Value					$ 42.2
Unpaid Principal Balance	[1],[3]	308	306.9	261.3
Gain (Loss)	[1],[3]	8.1	(3.5)	2.2
Bonds Retained [Member]
Investment [Line Items]
Basis	[1]	45.7	40	36.6
Retained Assets [Member]
Investment [Line Items]
Unpaid Principal Balance	[1],[3]	45.6	85.9	35.8		65
Loan Price	[1],[3]	41.1	78.2	26.6		61.8
REO & Other Price	[1],[3]	$ 2.3	$ 1.1	$ 2.9		$ 3.4
[1]	Any related securitization may occur on the same or a subsequent date, depending on market conditions and other factors. Except as otherwise noted in (C) below, there was one securitization associated with each call.
[2]	Price includes par amount paid for all underlying mortgage loans of the trusts, plus the basis of the exercised call rights, plus advances and costs incurred (including MSR Fund Payments, as defined in Note 15) in exercising such call rights.
[3]	Loans were sold through a securitization which was treated as a sale for accounting purposes. Retained assets are reflected as of the date of the relevant securitization. The securitization that occurred in March 2016 primarily included loans from the December 23, 2015 call, but also included previously acquired loans. The retained assets disclosed for the December 23, 2015 call are net of the related loans sold in the March 2016 securitization. The securitization that occurred in May 2016 primarily included loans from the March 25, 2016 and May 25, 2016 calls. The retained assets disclosed for the March 25, 2016 call are net of the related loans sold in the May 2016 securitization. The securitization that occurred in September 2016 primarily included loans from the August 25, 2016 call, but also included $42.2 million of previously acquired loans.

INVESTMENTS IN RESIDENTIAL MO80

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Summary of Activities Related to the Carrying Value of Reverse Mortgage Loans and Performing Loans and PCD Loans Held-for-Investment (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Movement in Mortgage Loans on Real Estate [Roll Forward]
Accretion of loan discount and premium amortization, net		$ 514,522	$ 360,467
Transfer of loans to real estate owned		(62,057)
Reverse Mortgage Loans [Member]
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning		19,560
Purchases/additional fundings		319
Proceeds from repayments		(1,352)
Accretion of loan discount and premium amortization, net	[1]	2,002
Provision for loan losses		(73)
Transfer of loans to other assets(B)	[2]	(4,203)
Sales		(1,795)
Transfer of loans to held-for-sale	[3]	(14,458)
Balance, ending		0
Performing Loans [Member]
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning		19,964
Purchases/additional fundings		0
Proceeds from repayments		(811)
Accretion of loan discount and premium amortization, net	[1]	123
Provision for loan losses		(4)
Transfer of loans to other assets(B)	[2]	0
Sales		0
Transfer of loans to held-for-sale	[3]	(19,272)
Balance, ending		0
PCD Loans [Member]
Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning		290,654
Purchases/additional fundings		0
Proceeds from repayments		(8,897)
Accretion of loan discount and premium amortization, net		8,295
Transfer of loans to real estate owned		(7,583)
Sales		0
Transfer of loans to held-for-sale		(282,469)
Balance, ending		$ 0
[1]	Includes accelerated accretion of discount on loans paid in full and on loans transferred to other assets.
[2]	Represents loans for which foreclosure has been completed during the nine months ended September 30, 2016 and for which New Residential has made, or intends to make, a claim with the governmental agency that has guaranteed the loans that are now recognized as claims receivable in Other Assets (Note 2).
[3]	Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff.

INVESTMENTS IN RESIDENTIAL MO81

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Summary of Activities Related to the Valuation Provision on Reverse Mortgage Loans and Allowance for Loan Losses on Performing Loans (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Reverse Mortgage Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning, balance	$ 1,553
Provision for loan losses	73	[1]
Charge-offs	0	[2]
Sales	(171)
Transfer of loans to held-for-sale	(1,455)	[3]
Ending, balance	0
Performing Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning, balance	119
Provision for loan losses	4	[1]
Charge-offs	0	[2]
Sales	0
Transfer of loans to held-for-sale	(123)	[3]
Ending, balance	$ 0
[1]	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.
[2]	Loans, other than PCD 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.
[3]	Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff.

INVESTMENTS IN RESIDENTIAL MO82

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Summary of Unpaid Principal Balance and Carrying Value for Loans Uncollectible (Details) - PCD Loans [Member] - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Mortgage Loans on Real Estate [Line Items]
Unpaid Principal Balance	$ 0	$ 450,229
Carrying Value	$ 0	$ 290,654

INVESTMENTS IN RESIDENTIAL MO83

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Summary of Changes in Accretable Yield (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Beginning balance	$ 71,063
Additions	0
Accretion	(8,876)
Reclassifications from non-accretable difference	29,569	[1]
Disposals	(2,680)	[2]
Transfer of loans to held-for-sale	(89,076)	[3]
Ending balance	$ 0
[1]	Represents a probable and significant increase in cash flows previously expected to be uncollectible.
[2]	Includes sales of loans or foreclosures, which result in removal of the loan from the PCD loan pool at its carrying amount.
[3]	Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff.

INVESTMENTS IN RESIDENTIAL MO84

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Summary of Activities Related to the Carrying Value of Loans Held-for-sale (Details) - USD ($) $ in Thousands		May 25, 2016	Mar. 25, 2016	Sep. 30, 2016
Loans Held-for-sale, Reconciliation [Roll Forward]
Transfer of loans to real estate owned				$ (62,057)
Loans Held-for-sale [Member]
Loans Held-for-sale, Reconciliation [Roll Forward]
Beginning balance, loans held-for-sale				776,681
Purchases	[1]			788,824
Transfer of loans from held-for-investment	[2]			316,199
Sales				(915,361)
Transfer of loans to other assets	[3]			(148,243)
Transfer of loans to real estate owned				(39,558)
Proceeds from repayments				(75,329)
Valuation provision on loans	[4]			2,268
Ending balance, loans held-for-sale				$ 705,481
Provision on call transaction on loans held-for-sale		$ 3,600	$ 2,600
[1]	Represents loans acquired with the intent to sell.
[2]	Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff.
[3]	Represents loans for which foreclosure has been completed during the nine months ended September 30, 2016 and for which New Residential has made, or intends to make, a claim with the governmental agency that has guaranteed the loans that are now recognized as claims receivable in Other Assets (Note 2).
[4]	Represents the fair value adjustments to loans upon transfer to held-for-sale and provision recorded on certain purchased held-for-sale loans, including $2.6 million and $3.6 million of provision related to the call transactions executed on March 25, 2016 and May 25, 2016, respectively.

INVESTMENTS IN RESIDENTIAL MO85

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Schedule of Real Estate Owned (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Real Estate Owned [Roll Forward]
Beginning balance	$ 50,574
Purchases	8,123
Transfer of loans to real estate owned	62,057
Sales	(46,748)
Valuation provision on REO	(13,547)
Ending balance	$ 60,459

INVESTMENTS IN CONSUMER LOANS -

INVESTMENTS IN CONSUMER LOANS - Narrative (Details) - USD ($) $ in Thousands		1 Months Ended		3 Months Ended	9 Months Ended
		Oct. 31, 2016	Aug. 31, 2016	Mar. 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Apr. 01, 2016	Oct. 03, 2014	Apr. 30, 2013
Schedule of Equity Method Investments [Line Items]
Basis in consumer loans investment								$ 0
Payments to acquire loans receivable					$ 319	$ 664
Performing Loans [Member]
Schedule of Equity Method Investments [Line Items]
Payments to acquire loans receivable			$ 140,000		92,100
Unpaid Principal Balance					92,600
Performing Loans [Member] | Subsequent Event [Member]
Schedule of Equity Method Investments [Line Items]
Payments to acquire loans receivable		$ 34,200
Unpaid Principal Balance		$ 34,300
Consumer Loan Companies [Member]
Schedule of Equity Method Investments [Line Items]
Tax withholding payments				$ 30
New Residential Investment Corp. [Member] | SpringCastle [Member]
Schedule of Equity Method Investments [Line Items]
Parent's ownership percentage							53.50%
OneMain [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of portfolio co-invested by other parties									47.00%
Blackstone Tactical Opportunities Advisors LLC [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of portfolio co-invested by other parties									23.00%
Consumer Loan Companies [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of portfolio financed by other parties									73.00%
Consumer Loan Companies [Member]
Schedule of Equity Method Investments [Line Items]
New Residential’s ownership									30.00%
Percentage of portfolio co-invested by other parties									70.00%
Distributions in excess to New Residential				$ 9,900
Consumer Portfolio Segment [Member]
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance					3,600
Consumer Portfolio Segment [Member] | Performing Loans [Member]
Schedule of Equity Method Investments [Line Items]
Payments to acquire loans receivable					$ 92,069
Consumer Portfolio Segment [Member] | New Residential Investment Corp. [Member] | SpringCastle [Member] | Performing Loans [Member]
Schedule of Equity Method Investments [Line Items]
Parent's ownership percentage					53.50%
Unpaid Principal Balance	[1]				$ 1,345,573
[1]	Represents the balances as of September 30, 2016 and November 30, 2015, respectively.

INVESTMENTS IN CONSUMER LOANS87

INVESTMENTS IN CONSUMER LOANS - Summary of Consumer Loan Investments made through Equity Method Investees (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2016	Dec. 31, 2015	Apr. 01, 2016
Schedule of Equity Method Investments [Line Items]
Weighted Average Life (Years)		11 months 13 days
Performing Loans [Member]
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance		$ 92,600
New Residential Investment Corp. [Member] | SpringCastle [Member]
Schedule of Equity Method Investments [Line Items]
Parent's ownership percentage				53.50%
Consumer Portfolio Segment [Member]
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance		3,600
Consumer Portfolio Segment [Member] | Consumer Loan Investees [Member]
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	[1],[2]		$ 2,094,904
New Residential Interest in Investees	[1]		30.00%
Carrying value	[1]		$ 1,698,130
Weighted Average Coupon	[1],[3]		18.20%
Weighted Average Life (Years)	[1],[4]		4 years 4 months 24 days
Delinquency	[1],[5]		7.20%
Consumer Portfolio Segment [Member] | New Residential Investment Corp. [Member] | SpringCastle [Member] | Performing Loans [Member]
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	[2]	$ 1,345,573
Parent's ownership percentage		53.50%
Carrying value		$ 1,391,388
Weighted Average Coupon	[3]	18.70%
Weighted Average Life (Years)	[4]	4 years 3 months 6 days
Delinquency	[5]	5.70%
Consumer Portfolio Segment [Member] | New Residential Investment Corp. [Member] | SpringCastle [Member] | Non-Performing Loans [Member]
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	[2],[6]	$ 396,462
Parent's ownership percentage	[6]	53.50%
Carrying value	[6]	$ 339,916
Weighted Average Coupon	[3],[6]	16.60%
Weighted Average Life (Years)	[4],[6]	3 years 7 months 6 days
Delinquency	[5],[6]	13.20%
Consumer Portfolio Segment [Member] | New Residential Investment Corp. [Member] | Prosper [Member] | Consumer Loan, Other [Member]
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	[2]	$ 91,523
Parent's ownership percentage		100.00%
Carrying value		$ 90,675
Weighted Average Coupon	[3]	14.30%
Weighted Average Life (Years)	[4]	1 year 5 months 24 days
Delinquency	[5]	0.00%
Consumer Portfolio Segment [Member] | New Residential Investment Corp. [Member] | SpringCastle and Prosper [Member]
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	[2]	$ 1,833,558
Carrying value		$ 1,821,979
Weighted Average Coupon	[3]	18.10%
Weighted Average Life (Years)	[4]	3 years 11 months 24 days
Delinquency	[5]	7.00%
[1]	Held through an equity method investee, which had a carrying value of zero, at such time.
[2]	Represents the balances as of September 30, 2016 and November 30, 2015, respectively.
[3]	Substantially all of the cash flows received on the loans held by the Consumer Loan Companies are required to be used to make payments on the notes described above.
[4]	Represents the weighted average expected timing of the receipt of expected cash flows for this investment.
[5]	Represents the percentage of the total unpaid principal balance that is 30+ days delinquent. Delinquency status is the primary credit quality indicator as it provides early warning of borrowers who may be experiencing financial difficulties.
[6]	Includes loans with evidence of credit deterioration since origination where it is probable that New Residential will not collect all contractually required principal and interest payments, which are accounted for as PCD loans.

INVESTMENTS IN CONSUMER LOANS88

INVESTMENTS IN CONSUMER LOANS - Consumer Loans Receivable Past Due (Details) - Performing Loans [Member] - Consumer Portfolio Segment [Member]	9 Months Ended
	Sep. 30, 2016	[1]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Percent past due	100.00%
Financing Receivables, 1 to 29 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Percent past due	94.70%
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Percent past due	2.20%
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Percent past due	1.20%
Financing Receivables, 90 to 119 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Percent past due	0.70%	[2]
Financing Receivables, Equal to Greater than 120 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Percent past due	1.20%	[2],[3]
[1]	Represents the percentage of the total unpaid principal balance that corresponds to loans that are in each delinquency status.
[2]	Includes loans more than 90 days past due and still accruing interest.
[3]	Interest is accrued up to the date of charge-off at 180 days past due.

INVESTMENTS IN CONSUMER LOANS89

INVESTMENTS IN CONSUMER LOANS - Carrying Value of Performing Loans (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended		9 Months Ended
		Aug. 31, 2016	Sep. 30, 2016		Sep. 30, 2016		Sep. 30, 2016	Sep. 30, 2015
Loans Receivable [Roll Forward]
Purchases							$ 319	$ 664
Proceeds from repayments							(31,092)	(15,944)
Accretion of loan discount and premium amortization, net							514,522	$ 360,467
Performing Loans [Member]
Loans Receivable [Roll Forward]
Purchases		$ 140,000					92,100
Consumer Portfolio Segment [Member] | Performing Loans [Member]
Loans Receivable [Roll Forward]
Beginning balance							0
SpringCastle Transaction							1,539,569
Purchases							92,069
Additional fundings	[1]						33,137
Proceeds from repayments							(155,388)
Accretion of loan discount and premium amortization, net							5,097
Net charge-offs					$ (30,535)	[2]	(30,535)
Provision for loan losses			$ (900)	[3]	(32,421)		(1,886)
Ending balance			$ 1,482,063		$ 1,482,063		$ 1,482,063
[1]	Represents draws on consumer loans with revolving privileges.
[2]	Consumer loans, other than PCD loans, are charged off when available information confirms that loans are uncollectible, which is generally when they become 180 days past due. Charge-offs are presented net of $5.6 million in recoveries of previously charged-off UPB.
[3]	Represents smaller-balance homogeneous loans that are not individually considered impaired and are evaluated based on an analysis of collective borrower performance, key terms of the loans and historical and anticipated trends in defaults and loss severities, and consideration of the unamortized acquisition discount. Includes a provision for loan losses of $0.9 million for newly originated loans acquired during the three months ended September 30, 2016.

INVESTMENTS IN CONSUMER LOANS90

INVESTMENTS IN CONSUMER LOANS - Schedule of Valuation and Allowance for Loan Losses (Details) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)		Sep. 30, 2016USD ($)		Sep. 30, 2016USD ($)
Performing Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Unpaid Principal Balance	$ 92,600		$ 92,600		$ 92,600
Consumer Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Unpaid Principal Balance	3,600		3,600		3,600
Carrying value of TDR					2,500
Consumer Portfolio Segment [Member] | Performing Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance			0	[1]
Beginning balance			0	[2]
Beginning balance			0
Provision for loan losses	900	[1]	32,421		1,886
Net charge-offs			(30,535)	[3]	(30,535)
Ending balance	847	[1]	847	[1]	847	[1]
Ending balance	1,039	[2]	1,039	[2]	1,039	[2]
Ending balance	$ 1,886		1,886		1,886
Recovery of bad debts					$ 5,600
Consumer Portfolio Segment [Member] | Allowance for Losses on Finance Receivables, Collectively Evaluated [Member] | Performing Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for loan losses			31,382	[1]
Net charge-offs			(30,535)	[1],[3]
Consumer Portfolio Segment [Member] | Allowance for Losses on Finance Receivables, Individually Impaired [Member] | Performing Loans [Member]
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for loan losses			1,039	[2]
Net charge-offs			$ 0	[2],[3]
[1]	Represents smaller-balance homogeneous loans that are not individually considered impaired and are evaluated based on an analysis of collective borrower performance, key terms of the loans and historical and anticipated trends in defaults and loss severities, and consideration of the unamortized acquisition discount. Includes a provision for loan losses of $0.9 million for newly originated loans acquired during the three months ended September 30, 2016.
[2]	Represents consumer loan modifications considered to be troubled debt restructurings (“TDRs”) as they provide concessions to borrowers, primarily in the form of interest rate reductions, who are experiencing financial difficulty. As of September 30, 2016, there are $3.6 million in UPB and $2.5 million in carrying value of consumer loans classified as TDRs.
[3]	Consumer loans, other than PCD loans, are charged off when available information confirms that loans are uncollectible, which is generally when they become 180 days past due. Charge-offs are presented net of $5.6 million in recoveries of previously charged-off UPB.

INVESTMENTS IN CONSUMER LOANS91

INVESTMENTS IN CONSUMER LOANS - Carrying Value of Purchased Credit Deteriorated Loans (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Loans Receivable [Roll Forward]
Proceeds from repayments		$ (31,092)	$ (15,944)
Accretion of loan discount and premium amortization, net		514,522	$ 360,467
Receivables Acquired with Deteriorated Credit Quality [Member] | Consumer Portfolio Segment [Member]
Loans Receivable [Roll Forward]
Beginning balance		0
SpringCastle Transaction		395,129
Allowance for Loan Losses	[1]	(2,115)
Proceeds from repayments		(77,899)
Accretion of loan discount and premium amortization, net		24,801
Ending balance		$ 339,916
[1]	Represents the present value of cash flows expected at acquisition that are no longer expected to be collected.

INVESTMENTS IN CONSUMER LOANS92

INVESTMENTS IN CONSUMER LOANS - Unpaid Principal Balance of Purchased Credit Deteriorated Loans (Details) - Receivables Acquired with Deteriorated Credit Quality [Member] - Consumer Portfolio Segment [Member] - USD ($) $ in Thousands	Sep. 30, 2016	Mar. 31, 2016
Financing Receivable, Impaired [Line Items]
Unpaid Principal Balance	$ 396,462	$ 450,611
Carrying Value	$ 339,916	$ 395,129

INVESTMENTS IN CONSUMER LOANS93

INVESTMENTS IN CONSUMER LOANS - Changes in Accretable Yield (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Beginning balance	$ 71,063
SpringCastle Transaction	0
Accretion	(8,876)
Ending balance	0
Consumer Portfolio Segment [Member] | Receivables Acquired with Deteriorated Credit Quality [Member]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Beginning balance	0
SpringCastle Transaction	176,387
Accretion	(24,801)
Reclassifications from non-accretable difference	24,167	[1]
Ending balance	$ 175,753
[1]	Represents a probable and significant increase in cash flows previously expected to be uncollectible.

INVESTMENTS IN CONSUMER LOANS94

INVESTMENTS IN CONSUMER LOANS - Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Total Consumer Loan Companies equity	$ 3,128,350		$ 3,128,350		$ 2,795,933
Others’ interests in equity of consolidated subsidiary	289,161		289,161		$ 190,647
Noncontrolling interests in income (loss) of consolidated subsidiaries	32,178	$ 7,193	61,355	$ 17,174
Consumer Loan Companies [Member]
Noncontrolling Interest [Line Items]
Total Consumer Loan Companies equity	230,251		230,251
Net Consumer Loan Companies income (loss)	$ 28,655		$ 60,118
Consumer Loan Companies [Member]
Noncontrolling Interest [Line Items]
Others’ ownership interest	46.50%		46.50%
Others’ interests in equity of consolidated subsidiary	$ 107,067		$ 107,067
Noncontrolling interests in income (loss) of consolidated subsidiaries	$ 13,325		$ 27,955

INVESTMENTS IN CONSUMER LOANS95

INVESTMENTS IN CONSUMER LOANS - Consumer Loan Variable Interest Entities (Details) - VIE, consolidated [Member] - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Total assets	[1]	$ 1,960,296	$ 2,410,098
Notes and bonds payable		1,625,956	2,060,347
Accounts payable and accrued expenses		6,119	6,111
Total liabilities	[1]	1,632,075	$ 2,066,458
Consumer Loan Companies [Member]
Variable Interest Entity [Line Items]
Consumer loans, held-for-investment		1,731,304
Restricted cash		13,866
Variable Interest Entity, Consolidated, Carrying Amount, Accrued Interest Receivable		25,468
Total assets		1,770,638
Notes and bonds payable		1,590,387
Accounts payable and accrued expenses		1,150
Total liabilities		$ 1,591,537
[1]	The creditors of the Buyer do not have recourse to the general credit of New Residential and the assets of the Buyer are not directly available to satisfy New Residential’s obligations.

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) - TBAs [Member] - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Short [Member]
Derivative [Line Items]
Derivative liability, notional amount	[1]	$ 2,645,300	$ 1,450,000
Long [Member]
Derivative [Line Items]
Derivative liability, notional amount	[1]	$ 1,441,000	$ 750,000
[1]	Represents the notional amount of Agency RMBS, classified as derivatives.

DERIVATIVES - Schedule of Deriv

DERIVATIVES - Schedule of Derivatives - Recorded at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Derivative assets	$ 2,088	$ 2,689
Derivative liabilities	24,085	13,443
Interest Rate Caps [Member]
Derivative [Line Items]
Derivative assets	2,088	2,689
TBAs [Member]
Derivative [Line Items]
Derivative liabilities	3,461	2,058
Interest Rate Swap [Member]
Derivative [Line Items]
Derivative liabilities	$ 20,624	$ 11,385

DERIVATIVES - Schedule of Der98

DERIVATIVES - Schedule of Derivatives - Notional Amount (Details) - Not Designated as Hedging Instrument [Member] - USD ($)		9 Months Ended
		Sep. 30, 2016	Dec. 31, 2015
TBAs [Member] | Short [Member]
Derivative [Line Items]
Derivative liability, notional amount	[1]	$ 2,645,300,000	$ 1,450,000,000
TBAs [Member] | Long [Member]
Derivative [Line Items]
Derivative liability, notional amount	[1]	1,441,000,000	750,000,000
Interest Rate Caps [Member]
Derivative [Line Items]
Derivative asset, notional amount	[2]	$ 2,435,000,000	3,400,000,000
Weighted average maturity (in months)		12 months
Interest Rate Swap [Member]
Derivative [Line Items]
Derivative liability, notional amount	[3]	$ 2,044,000,000	$ 2,444,000,000
Weighted average maturity (in months)		19 months
Weighted average fixed pay rate		1.28%
Interest Rate Cap, Contract One [Member]
Derivative [Line Items]
Derivative, cap interest rate		0.50%
Notional amount of derivatives		$ 950,000,000
Interest Rate Cap, Contract Two [Member]
Derivative [Line Items]
Derivative, cap interest rate		0.75%
Notional amount of derivatives		$ 1,150,000,000
Interest Rate Cap, Contract Three [Member]
Derivative [Line Items]
Derivative, cap interest rate		2.00%
Notional amount of derivatives		$ 185,000,000
Interest Rate Cap, Contract Four [Member]
Derivative [Line Items]
Derivative, cap interest rate		4.00%
Notional amount of derivatives		$ 150,000,000
[1]	Represents the notional amount of Agency RMBS, classified as derivatives.
[2]	Caps LIBOR at 0.50% for $950.0 million of notional, at 0.75% for $1,150.0 million of notional, at 2.00% for $185.0 million of notional, and at 4.00% for $150.0 million of notional. The weighted average maturity of the interest rate caps as of September 30, 2016 was 12 months.
[3]	Receive LIBOR and pay a fixed rate. The weighted average maturity of the interest rate swaps as of September 30, 2016 was 19 months and the weighted average fixed pay rate was 1.28%.

DERIVATIVES - Schedule of Der99

DERIVATIVES - Schedule of Derivatives - Gain (Losses) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative [Line Items]
Unrealized gain (loss) on derivative instruments	[1]	$ 26,962	$ (9,166)	$ (8,504)	$ (17,425)
Gain (loss) on settlement of derivatives		(24,839)	(44,479)	(70,307)	(53,300)
Total income (losses)		2,123	(53,645)	(78,811)	(70,725)
TBAs [Member]
Derivative [Line Items]
Unrealized gain (loss) on derivative instruments	[1]	10,502	2,054	(22)	254
Gain (loss) on settlement of derivatives		(15,922)	(33,398)	(55,159)	(36,902)
Interest Rate Swap [Member]
Derivative [Line Items]
Unrealized gain (loss) on derivative instruments	[1]	15,997	(10,221)	(4,799)	(15,310)
Gain (loss) on settlement of derivatives		(8,917)	(10,536)	(14,024)	(15,853)
Interest Rate Caps [Member]
Derivative [Line Items]
Unrealized gain (loss) on derivative instruments	[1]	463	(999)	(3,683)	(2,369)
Gain (loss) on settlement of derivatives		$ 0	$ (545)	$ (1,124)	$ (545)
[1]	Represents unrealized gains (losses).

DEBT OBLIGATIONS - Schedule of

DEBT OBLIGATIONS - Schedule of Debt Obligations (Details) - USD ($)		9 Months Ended
		Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Outstanding Face Amount		$ 12,782,716,000
Carrying Value	[1]	$ 12,763,153,000	$ 11,292,622,000
Weighted Average Funding Cost		3.02%
Weighted Average Life (Years)		11 months 13 days
Interest payable		$ 17,965,000	18,268,000
Trade And Other Receivables [Member]
Debt Instrument [Line Items]
Collateral amount		1,500,000,000
Servicer Advances [Member]
Debt Instrument [Line Items]
Carrying Value	[2]	5,897,747,000	7,047,061,000
Consumer Loans [Member]
Debt Instrument [Line Items]
Carrying Value		1,707,197,000	40,446,000
Repurchase Agreements [Member] | Agency RMBS [Member]
Debt Instrument [Line Items]
Outstanding Face Amount	[3],[4]	1,614,256,000
Carrying Value	[1],[3],[4]	$ 1,614,256,000	1,683,305,000
Weighted Average Funding Cost	[3],[4]	0.70%
Weighted Average Life (Years)	[3],[4]	21 days
Repurchase Agreements [Member] | Agency RMBS [Member] | Collateral [Member]
Debt Instrument [Line Items]
Weighted Average Life (Years)	[3],[4]	5 months 18 days
Outstanding Face of Collateral	[3],[4]	$ 1,591,692,000
Amortized Cost Basis of Collateral	[3],[4]	1,684,858,000
Carrying Value of Collateral	[3],[4]	1,680,197,000
Repurchase Agreements [Member] | Non-Agency RMBS [Member]
Debt Instrument [Line Items]
Outstanding Face Amount	[4],[5]	2,622,466,000
Carrying Value	[1],[4],[5]	$ 2,622,466,000	1,333,852,000
Weighted Average Funding Cost	[4],[5]	2.24%
Weighted Average Life (Years)	[4],[5]	1 month 11 days
Repurchase Agreements [Member] | Non-Agency RMBS [Member] | Collateral [Member]
Debt Instrument [Line Items]
Weighted Average Life (Years)	[4],[5]	7 years 11 days
Outstanding Face of Collateral	[4],[5]	$ 6,312,788,000
Amortized Cost Basis of Collateral	[4],[5]	3,396,357,000
Carrying Value of Collateral	[4],[5]	3,502,317,000
Repurchase agreements		89,200,000
Repurchase Agreements [Member] | Residential Mortgage [Member]
Debt Instrument [Line Items]
Outstanding Face Amount	[4],[6]	556,538,000
Carrying Value	[1],[4],[6]	$ 554,991,000	907,993,000
Weighted Average Funding Cost	[4],[6]	3.01%
Weighted Average Life (Years)	[4],[6]	5 months 30 days
Repurchase Agreements [Member] | Residential Mortgage [Member] | Collateral [Member]
Debt Instrument [Line Items]
Weighted Average Life (Years)	[4],[6]	2 years 11 months 21 days
Outstanding Face of Collateral	[4],[6]	$ 882,312,000
Amortized Cost Basis of Collateral	[4],[6]	685,345,000
Carrying Value of Collateral	[4],[6]	682,916,000
Repurchase Agreements [Member] | Real Estate Owned [Member]
Debt Instrument [Line Items]
Outstanding Face Amount	[4],[7],[8]	85,403,000
Carrying Value	[1],[4],[7],[8]	$ 85,163,000	77,458,000
Weighted Average Funding Cost	[4],[7],[8]	3.09%
Weighted Average Life (Years)	[4],[7],[8]	4 months 22 days
Repurchase Agreements [Member] | Real Estate Owned [Member] | Collateral [Member]
Debt Instrument [Line Items]
Carrying Value of Collateral	[4],[7],[8]	$ 108,051,000
Repurchase Agreements [Member] | Consumer Loan Investment [Member]
Debt Instrument [Line Items]
Outstanding Face Amount	[4],[9]	53,068,000
Carrying Value	[1],[4],[9]	$ 53,068,000	40,446,000
Weighted Average Funding Cost	[4],[9]	5.61%
Weighted Average Life (Years)	[4],[9]	25 days
Repurchase Agreements [Member] | Consumer Loan Investment [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Variable interest rate spread		5.00%
Collateral percentage		56.00%
Repurchase Agreements [Member] | Consumer Loan Investment [Member] | Collateral [Member]
Debt Instrument [Line Items]
Weighted Average Life (Years)	[4],[9]	4 years 27 days
Carrying Value of Collateral	[4],[9]	$ 123,184,000
Repurchase Agreements [Member] | Total Repurchase Agreements [Member]
Debt Instrument [Line Items]
Outstanding Face Amount	[4]	4,931,731,000
Carrying Value	[1],[4]	$ 4,929,944,000	4,043,054,000
Weighted Average Funding Cost	[4]	1.87%
Weighted Average Life (Years)	[4]	1 month 22 days
Interest payable		$ 6,700,000
Notes Payable [Member] | Residential Mortgage [Member]
Debt Instrument [Line Items]
Outstanding Face Amount	[10]	9,789,000
Carrying Value	[1],[10]	$ 9,614,000	19,529,000
Weighted Average Funding Cost	[10]	3.39%
Weighted Average Life (Years)	[10]	22 days
Notes Payable [Member] | Residential Mortgage [Member] | Collateral [Member]
Debt Instrument [Line Items]
Weighted Average Life (Years)	[10]	4 years 6 months
Outstanding Face of Collateral	[10]	$ 14,243,000
Amortized Cost Basis of Collateral	[10]	8,086,000
Carrying Value of Collateral	[10]	8,086,000
Notes Payable [Member] | Real Estate Owned [Member]
Debt Instrument [Line Items]
Outstanding Face Amount	[10]	3,429,000
Carrying Value	[1],[10]	$ 3,429,000	0
Weighted Average Funding Cost	[10]	3.39%
Weighted Average Life (Years)	[10]	22 days
Notes Payable [Member] | Real Estate Owned [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Variable interest rate spread		2.875%
Notes Payable [Member] | Real Estate Owned [Member] | Collateral [Member]
Debt Instrument [Line Items]
Carrying Value of Collateral	[10]	$ 4,068,000
Notes Payable [Member] | Secured Corporate Note [Member]
Debt Instrument [Line Items]
Outstanding Face Amount	[11]	270,511,000
Carrying Value	[1],[11]	$ 268,290,000	182,978,000
Weighted Average Funding Cost	[11]	5.28%
Weighted Average Life (Years)	[11]	1 year 9 months 4 days
Notes Payable [Member] | Secured Corporate Note [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Variable interest rate spread		4.75%
Notes Payable [Member] | Secured Corporate Note [Member] | Collateral [Member]
Debt Instrument [Line Items]
Weighted Average Life (Years)	[11]	5 years 10 months 19 days
Outstanding Face of Collateral	[11]	$ 247,538,861,000
Amortized Cost Basis of Collateral	[11]	801,924,000
Carrying Value of Collateral	[11]	940,117,000
Notes Payable [Member] | Servicer Advances [Member]
Debt Instrument [Line Items]
Outstanding Face Amount	[12]	5,907,803,000
Carrying Value	[1],[12]	$ 5,897,747,000	7,047,061,000
Weighted Average Funding Cost	[12]	3.52%
Weighted Average Life (Years)	[12]	1 year
Face amount of debt at fixed rate		$ 2,200,000,000
Notes Payable [Member] | Servicer Advances [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Variable interest rate spread		2.10%
Notes Payable [Member] | Servicer Advances [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Variable interest rate spread		2.2258%
Notes Payable [Member] | Servicer Advances [Member] | Collateral [Member]
Debt Instrument [Line Items]
Weighted Average Life (Years)	[12]	4 years 5 months 24 days
Outstanding Face of Collateral	[12]	$ 6,017,968,000
Amortized Cost Basis of Collateral	[12]	6,012,315,000
Carrying Value of Collateral	[12]	6,043,369,000
Notes Payable [Member] | Consumer Loans [Member]
Debt Instrument [Line Items]
Outstanding Face Amount	[13],[14]	1,659,453,000
Carrying Value	[1],[13],[14]	$ 1,654,129,000	0
Weighted Average Funding Cost	[13],[14]	4.31%
Weighted Average Life (Years)	[13],[14]	3 years 24 days
Notes Payable [Member] | Consumer Loans [Member] | Collateral [Member]
Debt Instrument [Line Items]
Weighted Average Life (Years)	[13],[14]	3 years 11 months 24 days
Outstanding Face of Collateral	[13],[14]	$ 1,822,593,000
Amortized Cost Basis of Collateral	[13],[14]	1,812,730,000
Carrying Value of Collateral	[13],[14]	1,811,115,000
Notes Payable [Member] | Total Notes Payable [Member]
Debt Instrument [Line Items]
Outstanding Face Amount		7,850,985,000
Carrying Value	[1]	$ 7,833,209,000	$ 7,249,568,000
Weighted Average Funding Cost		3.74%
Weighted Average Life (Years)		1 year 5 months 16 days
Secured Debt [Member]
Debt Instrument [Line Items]
Redemption rate		100.00%
Secured Debt [Member] | UPB Class A Notes, 2.7%, Matures May 2023 [Member]
Debt Instrument [Line Items]
Unpaid Principal Balance		$ 637,100,000
Interest rate		2.70%
Specified call premium percentage		1.00%
Secured Debt [Member] | UPB Class B Notes, 4.61%, Matures October 2027 [Member]
Debt Instrument [Line Items]
Unpaid Principal Balance		$ 427,000,000
Interest rate		4.61%
Specified call premium percentage		0.75%
Secured Debt [Member] | UPB Class C Notes, 5.59%, Matures October 2033 [Member]
Debt Instrument [Line Items]
Unpaid Principal Balance		$ 331,200,000
Interest rate		5.59%
Specified call premium percentage		1.00%
Secured Debt [Member] | UPB Class D Notes, 6.82%, Matures April 2034 [Member]
Debt Instrument [Line Items]
Unpaid Principal Balance		$ 199,800,000
Interest rate		6.82%
Specified call premium percentage		2.00%
Secured Debt [Member] | 3.25% Consumer Loans [Member]
Debt Instrument [Line Items]
Outstanding Face Amount		$ 64,341,946.6000000
Secured Debt [Member] | 3.25% Consumer Loans [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Variable interest rate spread		3.25%
[1]	Net of deferred financing costs.
[2]	New Residential net settles daily borrowings and repayments of the Notes and Bonds Payable on its Servicer Advances.
[3]	All of the Agency RMBS repurchase agreements have a fixed rate. Collateral amounts include approximately $1.5 billion of related trade and other receivables.
[4]	These repurchase agreements had approximately $6.7 million of associated accrued interest payable as of September 30, 2016.
[5]	All of the Non-Agency RMBS repurchase agreements have LIBOR-based floating interest rates. This includes repurchase agreements of $89.2 million on retained servicer advance bonds.
[6]	All of these repurchase agreements have LIBOR-based floating interest rates.
[7]	All of these repurchase agreements have LIBOR-based floating interest rates.
[8]	Includes financing collateralized by receivables including claims from FHA on Ginnie Mae EBO loans for which foreclosure has been completed and for which New Residential has made or intends to make a claim on the FHA guarantee.
[9]	The repurchase agreement bears interest equal to three-month LIBOR plus 5.00% and is collateralized by 56% of New Residential’s interest in the Consumer Loan Companies (Note 9).
[10]	The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 2.875%.
[11]	The loans bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.75%. The outstanding face amount of the collateral represents the UPB of the residential mortgage loans underlying the Excess MSRs that secure these notes.
[12]	$2.2 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 2.1% to 2.2%.
[13]	Includes a $64.3 million face amount note collateralized by newly originated consumer loans which bears interest equal to one-month LIBOR plus 3.25%.
[14]	ncludes the debt assumed in the SpringCastle Transaction (Note 1), which is comprised of the following classes of asset-backed notes (collectively, the “2014-A Notes”) held by third parties: $637.1 million UPB of Class A notes with a coupon of 2.7% and a stated maturity date in May 2023 (the “Class A Notes”); $427.0 million UPB of Class B notes with a coupon of 4.61% and a stated maturity date in October 2027 (the “Class B Notes”); $331.2 million UPB of Class C notes with a coupon of 5.59% and a stated maturity date in October 2033 (the “Class C Notes”); and $199.8 million UPB of Class D notes with a coupon of 6.82% and a stated maturity date in April 2034 (the “Class D Notes”). Prior to the payment date in October 2016, the redemption price for any class of the outstanding 2014-A Notes shall be the sum of (i) 100% of the UPB of the 2014-A Notes of the applicable class to be redeemed, plus (ii) the applicable Specified Call Premium Amount (as defined below) for such 2014-A Notes, plus (iii) accrued and unpaid interest and fees in respect of such 2014-A Notes. On or after the payment date occurring in October 2016, the redemption price for any class of 2014-A Notes shall be the sum of (i) 100% of the UPB of the 2014-A Notes of the applicable class to be redeemed, plus (ii) accrued and unpaid interest and fees in respect of such 2014-A Notes. The “Specified Call Premium Amount” on any payment date for any class of 2014-A Notes shall mean (i) in the case of Class A Notes, an amount equal to 1.00% of the UPB of the Class A Notes to be redeemed and (ii) in the case of the Class B Notes, the Class C Notes and the Class D Notes, an amount equal to (a) the product of (1) with respect to the Class B Notes, 0.75%, with respect to the Class C Notes, 1.00% and with respect to the Class D Notes, 2.00%, times (2) the UPB of the 2014-A Notes of such class to be redeemed on such payment date, times (3) the number of days, computed on a 30/360 basis, from and including such payment date to but excluding the payment date occurring in October 2016, divided by (b) 360.

DEBT OBLIGATIONS - Narrative (D

DEBT OBLIGATIONS - Narrative (Details)		Aug. 15, 2016USD ($)	Jul. 15, 2016USD ($)	May 09, 2016USD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2016USD ($)	Apr. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	May 31, 2016USD ($)
Debt Instrument [Line Items]
Face amount of debt								$ 12,782,716,000
Repayments of Debt								$ 6,786,408,000	$ 5,445,381,000
Percent decline in equity, first period								50.00%
Decline in equity, first period (in months)								12 months
Percent decline in equity, second period								35.00%
Decline in equity, second period (in months)								3 months
Ratio of indebtedness to tangible net worth								4
Unamortized Deferred Financing Costs [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt					$ 100,000
Two Year Servicer Advance Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 185,000,000
Debt instrument, term (in years)				2 years
Advance Financing Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity										$ 950,000,000
NRART 2015-T1 [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 200,000
Repayments of Debt			$ 400,000,000
NRART 2015-T3 [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 700,000
Repayments of Debt		$ 400,000,000
Repurchase Agreements [Member] | Total Repurchase Agreements [Member]
Debt Instrument [Line Items]
Face amount of debt	[1]							$ 4,931,731,000
Secured Debt [Member] | 4.75% Senior Notes Maturing April 2018 [Member]
Debt Instrument [Line Items]
Face amount of debt							$ 225,000,000
Secured Debt [Member] | 4.75% Senior Notes Maturing June 2019 [Member]
Debt Instrument [Line Items]
Face amount of debt						$ 101,200,000
Maximum borrowing capacity						300,000,000
Secured Debt [Member] | Term Loans Maturing June 2019 [Member]
Debt Instrument [Line Items]
Face amount of debt						400,000,000
Face amount, amount voluntarily retained						$ 20,900,000
London Interbank Offered Rate (LIBOR) [Member] | Secured Debt [Member] | 4.75% Senior Notes Maturing April 2018 [Member]
Debt Instrument [Line Items]
Variable interest rate spread							4.75%
London Interbank Offered Rate (LIBOR) [Member] | Secured Debt [Member] | 4.75% Senior Notes Maturing June 2019 [Member]
Debt Instrument [Line Items]
Variable interest rate spread						4.75%
[1]	These repurchase agreements had approximately $6.7 million of associated accrued interest payable as of September 30, 2016.

DEBT OBLIGATIONS - Schedule 102

DEBT OBLIGATIONS - Schedule of Debt Obligations - Carrying Value (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Debt Instrument [Roll Forward]
Beginning balance	[1]	$ 11,292,622
Borrowings		22,065,713	$ 6,184,472
Repayments		(21,179,260)	$ (5,644,864)
Ending balance	[1]	12,763,153
Excess MSRs [Member]
Debt Instrument [Roll Forward]
Beginning balance		182,978
Ending balance		268,290
Servicer Advances [Member]
Debt Instrument [Roll Forward]
Beginning balance	[2]	7,047,061
Ending balance	[2]	5,897,747
Real Estate Securities [Member]
Debt Instrument [Roll Forward]
Beginning balance		3,017,157
Ending balance		4,236,722
Real Estate Loans and REO [Member]
Debt Instrument [Roll Forward]
Beginning balance		1,004,980
Ending balance		653,197
Consumer Loans [Member]
Debt Instrument [Roll Forward]
Beginning balance		40,446
Ending balance		1,707,197
Repurchase Agreements [Member]
Debt Instrument [Roll Forward]
Borrowings		22,067,288
Repayments		(21,179,260)
Capitalized deferred financing costs, net of amortization		(1,138)
Repurchase Agreements [Member] | Excess MSRs [Member]
Debt Instrument [Roll Forward]
Borrowings		0
Repayments		0
Capitalized deferred financing costs, net of amortization		0
Repurchase Agreements [Member] | Servicer Advances [Member]
Debt Instrument [Roll Forward]
Borrowings	[2]	0
Repayments	[2]	0
Capitalized deferred financing costs, net of amortization	[2]	0
Repurchase Agreements [Member] | Real Estate Securities [Member]
Debt Instrument [Roll Forward]
Borrowings		21,719,656
Repayments		(20,500,091)
Capitalized deferred financing costs, net of amortization		0
Repurchase Agreements [Member] | Real Estate Loans and REO [Member]
Debt Instrument [Roll Forward]
Borrowings		326,174
Repayments		(670,333)
Capitalized deferred financing costs, net of amortization		(1,138)
Repurchase Agreements [Member] | Consumer Loans [Member]
Debt Instrument [Roll Forward]
Borrowings		21,458
Repayments		(8,836)
Capitalized deferred financing costs, net of amortization		0
Notes Payable [Member]
Debt Instrument [Roll Forward]
Acquired borrowings, net of discount		1,803,192
Borrowings		5,567,309
Repayments		(6,786,408)
Discount on borrowings, net of amortization		1,567
Capitalized deferred financing costs, net of amortization		(2,019)
Notes Payable [Member] | Excess MSRs [Member]
Debt Instrument [Roll Forward]
Acquired borrowings, net of discount		0
Borrowings		401,740
Repayments		(315,662)
Discount on borrowings, net of amortization		1,420
Capitalized deferred financing costs, net of amortization		(2,186)
Notes Payable [Member] | Servicer Advances [Member]
Debt Instrument [Roll Forward]
Beginning balance	[1],[3]	7,047,061
Acquired borrowings, net of discount	[2]	0
Borrowings	[2]	5,101,227
Repayments	[2]	(6,251,482)
Discount on borrowings, net of amortization	[2]	0
Capitalized deferred financing costs, net of amortization	[2]	941
Ending balance	[1],[3]	5,897,747
Notes Payable [Member] | Real Estate Securities [Member]
Debt Instrument [Roll Forward]
Acquired borrowings, net of discount		0
Borrowings		0
Repayments		0
Discount on borrowings, net of amortization		0
Capitalized deferred financing costs, net of amortization		0
Notes Payable [Member] | Real Estate Loans and REO [Member]
Debt Instrument [Roll Forward]
Acquired borrowings, net of discount		0
Borrowings		0
Repayments		(6,311)
Discount on borrowings, net of amortization		0
Capitalized deferred financing costs, net of amortization		(175)
Notes Payable [Member] | Consumer Loans [Member]
Debt Instrument [Roll Forward]
Beginning balance	[1],[4],[5]	0
Acquired borrowings, net of discount		1,803,192
Borrowings		64,342
Repayments		(212,953)
Discount on borrowings, net of amortization		147
Capitalized deferred financing costs, net of amortization		(599)
Ending balance	[1],[4],[5]	$ 1,654,129
[1]	Net of deferred financing costs.
[2]	New Residential net settles daily borrowings and repayments of the Notes and Bonds Payable on its Servicer Advances.
[3]	$2.2 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 2.1% to 2.2%.
[4]	Includes a $64.3 million face amount note collateralized by newly originated consumer loans which bears interest equal to one-month LIBOR plus 3.25%.
[5]	ncludes the debt assumed in the SpringCastle Transaction (Note 1), which is comprised of the following classes of asset-backed notes (collectively, the “2014-A Notes”) held by third parties: $637.1 million UPB of Class A notes with a coupon of 2.7% and a stated maturity date in May 2023 (the “Class A Notes”); $427.0 million UPB of Class B notes with a coupon of 4.61% and a stated maturity date in October 2027 (the “Class B Notes”); $331.2 million UPB of Class C notes with a coupon of 5.59% and a stated maturity date in October 2033 (the “Class C Notes”); and $199.8 million UPB of Class D notes with a coupon of 6.82% and a stated maturity date in April 2034 (the “Class D Notes”). Prior to the payment date in October 2016, the redemption price for any class of the outstanding 2014-A Notes shall be the sum of (i) 100% of the UPB of the 2014-A Notes of the applicable class to be redeemed, plus (ii) the applicable Specified Call Premium Amount (as defined below) for such 2014-A Notes, plus (iii) accrued and unpaid interest and fees in respect of such 2014-A Notes. On or after the payment date occurring in October 2016, the redemption price for any class of 2014-A Notes shall be the sum of (i) 100% of the UPB of the 2014-A Notes of the applicable class to be redeemed, plus (ii) accrued and unpaid interest and fees in respect of such 2014-A Notes. The “Specified Call Premium Amount” on any payment date for any class of 2014-A Notes shall mean (i) in the case of Class A Notes, an amount equal to 1.00% of the UPB of the Class A Notes to be redeemed and (ii) in the case of the Class B Notes, the Class C Notes and the Class D Notes, an amount equal to (a) the product of (1) with respect to the Class B Notes, 0.75%, with respect to the Class C Notes, 1.00% and with respect to the Class D Notes, 2.00%, times (2) the UPB of the 2014-A Notes of such class to be redeemed on such payment date, times (3) the number of days, computed on a 30/360 basis, from and including such payment date to but excluding the payment date occurring in October 2016, divided by (b) 360.

DEBT OBLIGATIONS - Schedule 103

DEBT OBLIGATIONS - Schedule of Contractual Maturities of Debt Obligations (Details) $ in Thousands	Sep. 30, 2016USD ($)
Debt maturing in:
October 1 through December 31, 2016	$ 4,176,165
2,017	5,768,570
2,018	748,908
2,019	493,962
2,020	0
2021 and thereafter	1,595,111
Total	12,782,716
Nonrecourse [Member]
Debt maturing in:
October 1 through December 31, 2016	0
2,017	5,088,249
2,018	501,636
2,019	443,451
2,020	0
2021 and thereafter	1,595,111
Total	7,628,447
Recourse [Member]
Debt maturing in:
October 1 through December 31, 2016	4,176,165
2,017	680,321
2,018	247,272
2,019	50,511
2,020	0
2021 and thereafter	0
Total	$ 5,154,269

DEBT OBLIGATIONS - Schedule 104

DEBT OBLIGATIONS - Schedule of Borrowing Capacity (Details)	9 Months Ended
	Sep. 30, 2016USD ($)
Debt Instrument [Line Items]
Face amount of debt	$ 12,782,716,000
Non-Agency Bonds [Member]
Debt Instrument [Line Items]
Face amount of debt	110,100,000
Residential Mortgage Loans [Member]
Debt Instrument [Line Items]
Borrowing Capacity	2,065,000,000
Balance Outstanding	641,941,000
Available Financing	1,423,059,000
Excess MSRs [Member]
Debt Instrument [Line Items]
Borrowing Capacity	525,000,000
Balance Outstanding	270,511,000
Available Financing	254,489,000
Servicer Advances [Member]
Debt Instrument [Line Items]
Borrowing Capacity	7,274,860,000	[1]
Balance Outstanding	5,907,803,000	[1]
Available Financing	$ 1,367,057,000	[1]
Unused borrowing capacity fee	0.20%
Consumer Loan [Member]
Debt Instrument [Line Items]
Borrowing Capacity	$ 125,000,000
Balance Outstanding	64,342,000
Available Financing	60,658,000
Debt Excess Borrowing Capacity [Member]
Debt Instrument [Line Items]
Borrowing Capacity	9,989,860,000
Balance Outstanding	6,884,597,000
Available Financing	$ 3,105,263,000
[1]	New Residential’s unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions as set forth in the applicable agreements, including any applicable advance rate. New Residential pays a 0.2% fee on the unused borrowing capacity. Excludes borrowing capacity and outstanding debt for retained non-agency bonds with a current face amount of $110.1 million.

FAIR VALUE OF FINANCIAL INST105

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Carrying Values and Fair Values of Financial Assets Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Investments in:
Real estate securities, available-for-sale		$ 4,991,242	$ 2,501,881
Consumer loans, held-for-investment, principal balance	[1]	1,821,979	0
Derivative assets		2,088	2,689
Restricted cash		153,127	94,702
Liabilities
Derivative liabilities		24,085	$ 13,443
Recurring Basis [Member]
Investments in:
Excess mortgage servicing rights, principal balance	[2]	290,291,012
Excess mortgage servicing rights, equity method investees, principal balance	[2]	63,834,062
Servicer advances, principal balance		6,017,968
Real estate securities, available-for-sale, principal balance		8,027,852
Residential mortgage loans, held-for-investment, principal balance		0
Residential mortgage loans, held-for-sale, principal balance		927,523
Consumer loans, held-for-investment, principal balance		1,833,558
Derivative assets, notional amount		2,435,000
Cash and cash equivalents, principal balance		388,674
Restricted cash, principal balance		153,127
Other Assets, principal balance		729,193
Liabilities
Repurchase agreements, principal balance		4,931,731
Notes and bonds payable, principal balance		7,850,985
Derivative liabilities, notional amount		6,130,300
Recurring Basis [Member] | Carrying Value [Member]
Investments in:
Excess mortgage servicing rights, at fair value	[2]	1,404,052
Excess mortgage servicing rights, equity method investees, at fair value	[2]	195,904
Servicer advances		6,043,369
Real estate securities, available-for-sale		4,991,242
Residential mortgage loans, held-for-investment		0
Residential mortgage loans, held-for-sale		705,481
Consumer loans, held-for-investment		1,821,979
Derivative assets		2,088
Cash and cash equivalents		388,674
Restricted cash		153,127
Other Assets		3,255
Assets, fair value		15,709,171
Liabilities
Repurchase agreements		4,929,944
Notes and bonds payable		7,833,209
Derivative liabilities		24,085
Liabilities, fair value		12,787,238
Recurring Basis [Member] | Fair Value [Member]
Investments in:
Excess mortgage servicing rights, at fair value	[2]	1,404,052
Excess mortgage servicing rights, equity method investees, at fair value	[2]	195,904
Servicer advances		6,043,369
Real estate securities, available-for-sale		4,991,242
Residential mortgage loans, held-for-investment		0
Residential mortgage loans, held-for-sale		733,879
Consumer loans, held-for-investment		1,852,118
Derivative assets		2,088
Cash and cash equivalents		388,674
Restricted cash		153,127
Other Assets		3,255
Assets, fair value		15,767,708
Liabilities
Repurchase agreements		4,931,731
Notes and bonds payable		7,864,545
Derivative liabilities		24,085
Liabilities, fair value		12,820,361
Recurring Basis [Member] | Fair Value [Member] | Level 1 [Member]
Investments in:
Excess mortgage servicing rights, at fair value	[2]	0
Excess mortgage servicing rights, equity method investees, at fair value	[2]	0
Servicer advances		0
Real estate securities, available-for-sale		0
Residential mortgage loans, held-for-investment		0
Residential mortgage loans, held-for-sale		0
Consumer loans, held-for-investment		0
Derivative assets		0
Cash and cash equivalents		388,674
Restricted cash		153,127
Other Assets		0
Assets, fair value		541,801
Liabilities
Repurchase agreements		0
Notes and bonds payable		0
Derivative liabilities		0
Liabilities, fair value		0
Recurring Basis [Member] | Fair Value [Member] | Level 2 [Member]
Investments in:
Excess mortgage servicing rights, at fair value	[2]	0
Excess mortgage servicing rights, equity method investees, at fair value	[2]	0
Servicer advances		0
Real estate securities, available-for-sale		1,434,308
Residential mortgage loans, held-for-investment		0
Residential mortgage loans, held-for-sale		0
Consumer loans, held-for-investment		0
Derivative assets		2,088
Cash and cash equivalents		0
Restricted cash		0
Other Assets		0
Assets, fair value		1,436,396
Liabilities
Repurchase agreements		4,931,731
Notes and bonds payable		0
Derivative liabilities		24,085
Liabilities, fair value		4,955,816
Recurring Basis [Member] | Fair Value [Member] | Level 3 [Member]
Investments in:
Excess mortgage servicing rights, at fair value	[2]	1,404,052
Excess mortgage servicing rights, equity method investees, at fair value	[2]	195,904
Servicer advances		6,043,369
Real estate securities, available-for-sale		3,556,934
Residential mortgage loans, held-for-investment		0
Residential mortgage loans, held-for-sale		733,879
Consumer loans, held-for-investment		1,852,118
Derivative assets		0
Cash and cash equivalents		0
Restricted cash		0
Other Assets		3,255
Assets, fair value		13,789,511
Liabilities
Repurchase agreements		0
Notes and bonds payable		7,864,545
Derivative liabilities		0
Liabilities, fair value		$ 7,864,545
[1]	New Residential’s Condensed Consolidated Balance Sheets include the assets and liabilities of certain consolidated VIEs, the Buyer (Note 6) and the Consumer Loan SPVs (Note 9), which primarily hold investments in servicer advances and consumer loans, respectively, financed with notes and bonds payable. The Buyer’s balance sheet is included in Note 6 and the Consumer Loan SPVs’ balance sheet is included in Note 9. The creditors of the Buyer and the Consumer Loan SPVs do not have recourse to the general credit of New Residential and the assets of the Buyer and the Consumer Loan SPVs are not directly available to satisfy New Residential’s obligations.
[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 INST106

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Financial Assets Measured at Fair Value on a Recurring Basis using Level 3 Inputs (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016	Dec. 31, 2015
Excess MSRs Investees [Member]
Purchases, sales and repayments
New Residential’s ownership		50.00%	50.00012%
Recurring Basis [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning		$ 10,809,815
Transfers from Level 3	[1]	0
Transfers to Level 3	[1]	0
Gains (losses) included in net income
Included in other-than-temporary impairment (''OTTI'') on securities	[2]	(7,838)
Included in change in fair value of investments in excess mortgage servicing rights	[2]	(24,397)
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	[2]	8,608
Included in change in fair value of investments in Servicer Advances		4,328
Included in gain (loss) on settlement of investments, net		(20,950)
Included in other income	[2]	(591)
Gains (losses) included in other comprehensive income, net of tax	[3]	105,031
Interest income		498,314
Purchases, sales and repayments
Purchases		13,886,983
Proceeds from sales		(95,430)
Proceeds from repayments		(13,963,614)
Balance, ending		11,200,259
Recurring Basis [Member] | Level 3 [Member] | Non-Agency RMBS [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning		1,584,283
Transfers from Level 3	[1]	0
Transfers to Level 3	[1]	0
Gains (losses) included in net income
Included in other-than-temporary impairment (''OTTI'') on securities	[2]	(7,838)
Included in change in fair value of investments in excess mortgage servicing rights	[2]	0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	[2]	0
Included in change in fair value of investments in Servicer Advances		0
Included in gain (loss) on settlement of investments, net		(20,950)
Included in other income	[2]	(2,779)
Gains (losses) included in other comprehensive income, net of tax	[3]	105,031
Interest income		133,589
Purchases, sales and repayments
Purchases		2,298,446
Proceeds from sales		(95,430)
Proceeds from repayments		(437,418)
Balance, ending		3,556,934
Recurring Basis [Member] | Level 3 [Member] | Servicer Advances [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning		7,426,794
Transfers from Level 3	[1]	0
Transfers to Level 3	[1]	0
Gains (losses) included in net income
Included in other-than-temporary impairment (''OTTI'') on securities	[2]	0
Included in change in fair value of investments in excess mortgage servicing rights	[2]	0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	[2]	0
Included in change in fair value of investments in Servicer Advances		4,328
Included in gain (loss) on settlement of investments, net		0
Included in other income	[2]	0
Gains (losses) included in other comprehensive income, net of tax	[3]	0
Interest income		257,877
Purchases, sales and repayments
Purchases		11,588,537
Proceeds from sales		0
Proceeds from repayments		(13,234,167)
Balance, ending		6,043,369
Recurring Basis [Member] | Level 3 [Member] | MSRs Agency [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	[4]	437,201
Transfers from Level 3	[1],[4]	0
Transfers to Level 3	[1],[4]	0
Gains (losses) included in net income
Included in other-than-temporary impairment (''OTTI'') on securities	[2],[4]	0
Included in change in fair value of investments in excess mortgage servicing rights	[2],[4]	(7,292)
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	[2],[4]	0
Included in change in fair value of investments in Servicer Advances	[4]	0
Included in gain (loss) on settlement of investments, net	[4]	0
Included in other income	[2],[4]	1,930
Gains (losses) included in other comprehensive income, net of tax	[3],[4]	0
Interest income	[4]	25,156
Purchases, sales and repayments
Purchases	[4]	0
Proceeds from sales	[4]	0
Proceeds from repayments	[4]	(68,231)
Balance, ending	[4]	388,764
Recurring Basis [Member] | Level 3 [Member] | MSRs Agency [Member] | Excess MSRs Investees [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	[4],[5]	217,221
Transfers from Level 3	[1],[4],[5]	0
Transfers to Level 3	[1],[4],[5]	0
Gains (losses) included in net income
Included in other-than-temporary impairment (''OTTI'') on securities	[2],[4],[5]	0
Included in change in fair value of investments in excess mortgage servicing rights	[2],[4],[5]	0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	[2],[4],[5]	8,608
Included in change in fair value of investments in Servicer Advances	[4],[5]	0
Included in gain (loss) on settlement of investments, net	[4],[5]	0
Included in other income	[2],[4],[5]	0
Gains (losses) included in other comprehensive income, net of tax	[3],[4],[5]	0
Interest income	[4],[5]	0
Purchases, sales and repayments
Purchases	[4],[5]	0
Proceeds from sales	[4],[5]	0
Proceeds from repayments	[4],[5]	(29,925)
Balance, ending	[4],[5]	195,904
Recurring Basis [Member] | Level 3 [Member] | MSRs Non-Agency [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	[4]	1,144,316
Transfers from Level 3	[1],[4]	0
Transfers to Level 3	[1],[4]	0
Gains (losses) included in net income
Included in other-than-temporary impairment (''OTTI'') on securities	[2],[4]	0
Included in change in fair value of investments in excess mortgage servicing rights	[2],[4]	(17,105)
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	[2],[4]	0
Included in change in fair value of investments in Servicer Advances	[4]	0
Included in gain (loss) on settlement of investments, net	[4]	0
Included in other income	[2],[4]	258
Gains (losses) included in other comprehensive income, net of tax	[3],[4]	0
Interest income	[4]	81,692
Purchases, sales and repayments
Purchases	[4]	0
Proceeds from sales	[4]	0
Proceeds from repayments	[4]	(193,873)
Balance, ending	[4]	$ 1,015,288
[1]	Transfers are assumed to occur at the beginning of each respective period.
[2]	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 and realized gains (losses) recorded during the period.
[3]	These gains (losses) were included in net unrealized gain (loss) on securities in the Condensed Consolidated Statements of Comprehensive Income.
[4]	Includes the recapture agreement for each respective pool.
[5]	Amounts represent New Residential’s portion of the Excess MSRs held by the respective joint ventures in which New Residential has a 50% interest.

FAIR VALUE OF FINANCIAL INST107

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Certain Information Regarding Inputs used in Valuing Excess MSRs Owned Directly and through Equity Method Investees (Details)	9 Months Ended
	Sep. 30, 2016
MSRs [Member]
Directly Held (Note 4)
Prepayment Speed	10.00%	[1],[2]
Delinquency	4.00%	[2],[3]
Recapture Rate	13.90%	[2],[4]
Excess Mortgage Servicing Amount (bps)	0.0017	[2],[5]
MSRs [Member] | Weighted Average [Member]
Directly Held (Note 4)
Collateral Weighted Average Maturity (in years)	25 years
Directly Held [Member]
Directly Held (Note 4)
Prepayment Speed	9.90%	[1],[2]
Delinquency	3.70%	[2],[3]
Recapture Rate	10.00%	[2],[4]
Excess Mortgage Servicing Amount (bps)	0.0016	[2],[5]
Directly Held [Member] | Weighted Average [Member]
Directly Held (Note 4)
Collateral Weighted Average Maturity (in years)	25 years
Directly Held [Member] | Agency [Member]
Directly Held (Note 4)
Prepayment Speed	9.80%	[1],[2]
Delinquency	3.70%	[2],[3]
Recapture Rate	29.20%	[2],[4]
Excess Mortgage Servicing Amount (bps)	0.0021	[2],[5]
Directly Held [Member] | Agency [Member] | Weighted Average [Member]
Directly Held (Note 4)
Collateral Weighted Average Maturity (in years)	24 years
Directly Held [Member] | Agency [Member] | Original Pools [Member]
Directly Held (Note 4)
Prepayment Speed	10.60%	[1],[2]
Delinquency	3.30%	[2],[3]
Recapture Rate	32.50%	[2],[4]
Excess Mortgage Servicing Amount (bps)	0.0021	[2],[5]
Directly Held [Member] | Agency [Member] | Original Pools [Member] | Weighted Average [Member]
Directly Held (Note 4)
Collateral Weighted Average Maturity (in years)	24 years
Directly Held [Member] | Agency [Member] | Recaptured Pools [Member]
Directly Held (Note 4)
Prepayment Speed	7.60%	[1],[2]
Delinquency	4.80%	[2],[3]
Recapture Rate	20.90%	[2],[4]
Excess Mortgage Servicing Amount (bps)	0.0021	[2],[5]
Directly Held [Member] | Agency [Member] | Recaptured Pools [Member] | Weighted Average [Member]
Directly Held (Note 4)
Collateral Weighted Average Maturity (in years)	25 years
Directly Held [Member] | Agency [Member] | Recapture Agreements [Member]
Directly Held (Note 4)
Prepayment Speed	7.60%	[1],[2]
Delinquency	4.90%	[2],[3]
Recapture Rate	20.00%	[2],[4]
Excess Mortgage Servicing Amount (bps)	0.0022	[2],[5]
Directly Held [Member] | Non-Agency [Member]
Directly Held (Note 4)
Prepayment Speed	10.00%	[1],[2],[6]
Recapture Rate	2.70%	[2],[4],[6]
Excess Mortgage Servicing Amount (bps)	0.0014	[2],[5],[6]
Directly Held [Member] | Non-Agency [Member] | Weighted Average [Member]
Directly Held (Note 4)
Collateral Weighted Average Maturity (in years)	25 years
Directly Held [Member] | Non-Agency [Member] | Original Pools [Member]
Directly Held (Note 4)
Prepayment Speed	11.90%	[1],[2],[6]
Recapture Rate	10.60%	[2],[4],[6]
Excess Mortgage Servicing Amount (bps)	0.0014	[2],[5],[6]
Directly Held [Member] | Non-Agency [Member] | Original Pools [Member] | Weighted Average [Member]
Directly Held (Note 4)
Collateral Weighted Average Maturity (in years)	24 years
Directly Held [Member] | Non-Agency [Member] | Recaptured Pools [Member]
Directly Held (Note 4)
Prepayment Speed	8.10%	[1],[2],[6]
Recapture Rate	20.00%	[2],[4],[6]
Excess Mortgage Servicing Amount (bps)	0.0020	[2],[5],[6]
Directly Held [Member] | Non-Agency [Member] | Recaptured Pools [Member] | Weighted Average [Member]
Directly Held (Note 4)
Collateral Weighted Average Maturity (in years)	24 years
Directly Held [Member] | Non-Agency [Member] | Recapture Agreements [Member]
Directly Held (Note 4)
Prepayment Speed	7.50%	[1],[2],[6]
Recapture Rate	20.00%	[2],[4],[6]
Excess Mortgage Servicing Amount (bps)	0.0020	[2],[5],[6]
Directly Held [Member] | Non-Agency [Member] | Ocwen Serviced Pools [Member]
Directly Held (Note 4)
Prepayment Speed	9.60%	[1],[2],[6]
Recapture Rate	0.00%	[2],[4],[6]
Excess Mortgage Servicing Amount (bps)	0.0014	[2],[5],[6]
Directly Held [Member] | Non-Agency [Member] | Ocwen Serviced Pools [Member] | Weighted Average [Member]
Directly Held (Note 4)
Collateral Weighted Average Maturity (in years)	25 years
Held through Equity Method Investees [Member]
Directly Held (Note 4)
Prepayment Speed	10.40%	[1],[2]
Delinquency	5.20%	[2],[3]
Recapture Rate	28.60%	[2],[4]
Excess Mortgage Servicing Amount (bps)	0.0021	[2],[5]
Held through Equity Method Investees [Member] | Weighted Average [Member]
Directly Held (Note 4)
Collateral Weighted Average Maturity (in years)	24 years
Held through Equity Method Investees [Member] | Agency [Member] | Original Pools [Member]
Directly Held (Note 4)
Prepayment Speed	12.40%	[1],[2]
Delinquency	5.30%	[2],[3]
Recapture Rate	35.00%	[2],[4]
Excess Mortgage Servicing Amount (bps)	0.0019	[2],[5]
Held through Equity Method Investees [Member] | Agency [Member] | Original Pools [Member] | Weighted Average [Member]
Directly Held (Note 4)
Collateral Weighted Average Maturity (in years)	23 years
Held through Equity Method Investees [Member] | Agency [Member] | Recaptured Pools [Member]
Directly Held (Note 4)
Prepayment Speed	7.80%	[1],[2]
Delinquency	5.00%	[2],[3]
Recapture Rate	20.00%	[2],[4]
Excess Mortgage Servicing Amount (bps)	0.0023	[2],[5]
Held through Equity Method Investees [Member] | Agency [Member] | Recaptured Pools [Member] | Weighted Average [Member]
Directly Held (Note 4)
Collateral Weighted Average Maturity (in years)	25 years
Held through Equity Method Investees [Member] | Agency [Member] | Recapture Agreements [Member]
Directly Held (Note 4)
Prepayment Speed	7.70%	[1],[2]
Delinquency	4.90%	[2],[3]
Recapture Rate	20.00%	[2],[4]
Excess Mortgage Servicing Amount (bps)	0.0023	[2],[5]
[1]	Projected annualized weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector.
[2]	Weighted by fair value of the portfolio.
[3]	Projected percentage of mortgage loans in the pool for which the borrower will miss its mortgage payments.
[4]	Percentage of voluntarily prepaid loans that are expected to be refinanced by the related servicer.
[5]	Weighted average total mortgage servicing amount in excess of the basic fee, measured in basis points (bps).
[6]	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.

FAIR VALUE OF FINANCIAL INST108

FAIR VALUE OF FINANCIAL INSTRUMENTS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Mar. 31, 2016
Schedule of Equity Method Investments [Line Items]
Assets measured at fair value on a nonrecurring basis	$ 100,000	$ 100,000
Asset fair value adjustment		11,400
Consumer Loan Companies [Member]
Schedule of Equity Method Investments [Line Items]
Notes and bonds payable			$ 1,803,200
Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member]
Schedule of Equity Method Investments [Line Items]
Fair Value	$ 110,369	$ 110,369
Minimum [Member]
Schedule of Equity Method Investments [Line Items]
Broker price discount	10.00%	10.00%
Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Broker price discount	25.00%	25.00%
Residential Mortgage Loans [Member]
Schedule of Equity Method Investments [Line Items]
Assets measured at fair value on a nonrecurring basis	$ 110,400	$ 110,400
Real Estate Acquired in Satisfaction of Debt [Member]
Schedule of Equity Method Investments [Line Items]
Assets measured at fair value on a nonrecurring basis	$ 38,800	38,800
Real Estate Owned [Member]
Schedule of Equity Method Investments [Line Items]
Asset fair value adjustment		13,600
Loans Held-for-sale [Member]
Schedule of Equity Method Investments [Line Items]
Asset fair value adjustment		$ (2,200)
Excess MSRs Investees [Member] | MSRs [Member]
Schedule of Equity Method Investments [Line Items]
Weighted average discount rate, used to value investments in excess MSRs	9.80%	9.80%

FAIR VALUE OF FINANCIAL INST109

FAIR VALUE OF FINANCIAL INSTRUMENTS - Summary of Certain Information Regarding the Inputs used in Valuing the Servicer Advances (Details) - Servicer Advances [Member]	9 Months Ended
	Sep. 30, 2016
Fair Value Inputs, Equity, Quantitative Information [Line Items]
Outstanding Servicer Advances to UPB of Underlying Residential Mortgage Loans	2.10%
Prepayment Speed	10.30%	[1]
Delinquency	14.80%
Mortgage Servicing Amount (bps)	0.00086	[2]
Discount Rate	5.40%
Weighted Average [Member]
Fair Value Inputs, Equity, Quantitative Information [Line Items]
Collateral Weighted Average Maturity (in years)	24 years 8 months 16 days
[1]	Projected annual weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector.
[2]	Mortgage servicing amount excludes the amounts New Residential pays its servicers as a monthly servicing fee.

FAIR VALUE OF FINANCIAL INST110

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Securities Valuation Methodology and Results (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)source
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Outstanding Face Amount	$ 8,027,852
Amortized Cost Basis	4,884,599
Total Fair Value	$ 4,991,242
Number of broker quotation sources | source	2
Percent of securities	67.58197%
Multiple Quotes [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	$ 4,496,719	[1]
Single Quote [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	494,523	[2]
Single Quote [Member] | Seller [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	462,700
Agency RMBS [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Outstanding Face Amount	1,356,580	[3],[4]
Amortized Cost Basis	1,437,777	[3],[4]
Agency RMBS [Member] | Level 2 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	1,434,308
Agency RMBS [Member] | Level 2 [Member] | Multiple Quotes [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	1,434,308	[1]
Agency RMBS [Member] | Level 2 [Member] | Single Quote [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	0	[2]
Non-Agency RMBS [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Outstanding Face Amount	6,671,272	[5],[6],[7]
Amortized Cost Basis	3,446,822	[5],[6],[7]
Fair Value	$ 2,403,846
Non-Agency RMBS [Member] | Minimum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	1.57%
Prepayment Rate	0.00%	[8]
Delinquency	0.01%	[9]
Loss Severity	5.00%	[10]
Non-Agency RMBS [Member] | Maximum [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount Rate	32.75%
Prepayment Rate	20.00%	[8]
Delinquency	12.00%	[9]
Loss Severity	100.00%	[10]
Non-Agency RMBS [Member] | Level 3 [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	$ 3,556,934	[5]
Non-Agency RMBS [Member] | Level 3 [Member] | Multiple Quotes [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	3,062,411	[1],[5]
Non-Agency RMBS [Member] | Level 3 [Member] | Single Quote [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	$ 494,523	[2],[5]
[1]	New Residential generally obtains pricing service quotations or broker quotations from two sources, one of which is generally the seller (the party that sold New Residential the security) for Non-Agency RMBS. New Residential evaluates quotes received and determines one as being most representative of fair value, and does 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 it 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. New Residential 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, it selects one of the quotes which is believed to more accurately reflect fair value. New Residential has not adjusted any of the quotes received in the periods presented. 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. New Residential’s investments in Agency RMBS are classified within Level 2 of the fair value hierarchy because the market for these securities is very active and market prices are readily observable.The third-party pricing services and brokers engaged by New Residential (collectively, “valuation providers”) use either the income approach or the market approach, or a combination of the two, in arriving at their estimated valuations of RMBS. Valuation providers using the market approach generally look at prices and other relevant information generated by market transactions involving identical or comparable assets. Valuation providers using the income approach create pricing models that generally incorporate such assumptions as discount rates, expected prepayment rates, expected default rates and expected loss severities. New Residential has reviewed the methodologies utilized by its valuation providers and has found them to be consistent with GAAP requirements. In addition to obtaining multiple quotations, when available, and reviewing the valuation methodologies of its valuation providers, New Residential creates its own internal pricing models for Level 3 securities and uses the outputs of these models as part of its process of evaluating the fair value estimates it receives from its valuation providers. These models incorporate the same types of assumptions as the models used by the valuation providers, but the assumptions are developed independently. These assumptions are regularly refined and updated at least quarterly by New Residential, and reviewed by its valuation group, which is separate from its investment acquisition and management group, to reflect market developments and actual performance.For 67.6% of our Non-Agency RMBS, the ranges of assumptions used by New Residential’s valuation providers are summarized in the table below. The assumptions used by New Residential’s valuation providers with respect to the remainder of New Residential’s Non-Agency RMBS were not readily available. Fair Value Discount Rate Prepayment Rate(a) CDR(b) Loss Severity(c)Non-Agency RMBS $2,403,846 1.57% to 32.75% 0% to 20% 0.1% to 12.0% 5.0% to 100%(a)Represents the annualized rate of the prepayments as a percentage of the total principal balance of the pool.(b)Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance of the pool.(c)Represents the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding balance.
[2]	New Residential was unable to obtain quotations from more than one source on these securities. For approximately $462.7 million, the one source was the party that sold New Residential the security.
[3]	Includes securities issued or guaranteed by U.S. Government agencies such as Fannie Mae or Freddie Mac.
[4]	The total outstanding face amount was $1.2 billion for fixed rate securities and $151.9 million for floating rate securities as of September 30, 2016.
[5]	Includes New Residential’s investments in interest-only notes for which the fair value option for financial instruments was elected.
[6]	Includes other ABS consisting primarily of (i) interest-only securities which New Residential elected to carry at fair value and record changes to valuation through the income statement and (ii) bonds backed by servicer advances. Gross Unrealized Weighted AverageAsset Type Outstanding Face Amount Amortized Cost Basis Gains Losses Carrying Value Number of Securities Rating Coupon Yield Life (Years) Principal SubordinationOther ABS $1,975,404 $110,267 $6,048 $(4,927) $111,388 25 AA+ 1.91% 5.57% 2.9 N/AServicer Advance Bonds $249,000 $248,696 $2,025 $— $250,721 3 AAA 2.81% 2.21% 0.1 N/A
[7]	The total outstanding face amount was $1.1 billion (including $0.3 billion of residual and interest-only notional amount) for fixed rate securities and $5.6 billion (including $2.0 billion of residual and interest-only notional amount) for floating rate securities as of September 30, 2016.
[8]	Represents the annualized rate of the prepayments as a percentage of the total principal balance of the pool.
[9]	Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance of the pool.
[10]	Represents the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding balance.

FAIR VALUE OF FINANCIAL INST111

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Valuation of Loans on Nonrecurring Basis (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Life (Years)	11 months 13 days
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate	3.80%
Weighted Average Life (Years)	3 years 9 months 3 days	[1]
Prepayment Rate	14.50%
Loss Severity	15.00%	[2]
Performing Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average Life (Years)	0 years
Performing Loans [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate	3.10%
Weighted Average Life (Years)	3 years 10 months 20 days	[1]
Prepayment Rate	17.40%
CDR	0.60%	[3]
Loss Severity	11.30%	[2]
Non-Performing Loans [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount Rate	6.50%
Weighted Average Life (Years)	3 years 2 months 23 days	[1]
Prepayment Rate	3.00%
CDR	3.00%	[3]
Loss Severity	30.00%	[2]
Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 110,369
Fair Value [Member] | Performing Loans [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	88,474
Fair Value [Member] | Non-Performing Loans [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 21,895
[1]	The weighted average life is based on the expected timing of the receipt of cash flows.
[2]	Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance.
[3]	Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.

FAIR VALUE OF FINANCIAL INST112

FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Inputs Used in Valuing Residential Mortgage Loans (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Valuation and Loss Provision/ (Reversal) In Current Year		$ 18,275	$ (3,341)	$ 41,845	$ 2,408
Weighted Average Life (Years)				11 months 13 days
Reverse Mortgage Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Interest in reverse mortgage loans				70.00%
Performing Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Weighted Average Life (Years)				0 years
Residential Mortgage [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Valuation and Loss Provision/ (Reversal) In Current Year				$ 77
Discount Rate				7.40%
Weighted Average Life (Years)	[1]			2 years 10 months 15 days
Loss Severity	[2]			30.50%
Residential Mortgage [Member] | Reverse Mortgage Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Valuation and Loss Provision/ (Reversal) In Current Year	[3]			$ 73
Discount Rate	[3]			7.00%
Weighted Average Life (Years)	[1],[3]			4 years 5 months 25 days
Loss Severity	[2],[3]			10.80%
Residential Mortgage [Member] | Performing Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Valuation and Loss Provision/ (Reversal) In Current Year				$ 4
Discount Rate				8.00%
Weighted Average Life (Years)	[1]			5 years 3 months 26 days
Prepayment Rate				5.40%
CDR	[4]			2.40%
Loss Severity	[2]			59.30%
Residential Mortgage [Member] | Non-Performing Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate				7.40%
Weighted Average Life (Years)	[1]			2 years 9 months 4 days
Prepayment Rate				2.40%
CDR	[4]			3.00%
Loss Severity	[2]			30.00%
Residential Mortgage [Member] | Carrying Value [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Carrying Value		595,112		$ 595,112
Residential Mortgage [Member] | Carrying Value [Member] | Reverse Mortgage Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Carrying Value	[3]	11,836		11,836
Residential Mortgage [Member] | Carrying Value [Member] | Performing Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Carrying Value		18,693		18,693
Residential Mortgage [Member] | Carrying Value [Member] | Non-Performing Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Carrying Value		564,583		564,583
Residential Mortgage [Member] | Fair Value [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value		623,510		623,510
Residential Mortgage [Member] | Fair Value [Member] | Reverse Mortgage Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	[3]	13,707		13,707
Residential Mortgage [Member] | Fair Value [Member] | Performing Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value		18,909		18,909
Residential Mortgage [Member] | Fair Value [Member] | Non-Performing Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value		590,894		590,894
Consumer Loan [Member] | Consumer Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Valuation and Loss Provision/ (Reversal) In Current Year				$ 4,001
Discount Rate				9.30%
Weighted Average Life (Years)	[1]			3 years 11 months 24 days
Prepayment Rate				15.20%
CDR	[4]			5.50%
Loss Severity	[2]			88.00%
Consumer Loan [Member] | Carrying Value [Member] | Consumer Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Carrying Value		1,821,979		$ 1,821,979
Consumer Loan [Member] | Fair Value [Member] | Consumer Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value		1,852,118		$ 1,852,118
Fair Value, Measurements, Nonrecurring [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate				3.80%
Weighted Average Life (Years)	[5]			3 years 9 months 3 days
Prepayment Rate				14.50%
Loss Severity	[6]			15.00%
Fair Value, Measurements, Nonrecurring [Member] | Performing Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate				3.10%
Weighted Average Life (Years)	[5]			3 years 10 months 20 days
Prepayment Rate				17.40%
CDR	[7]			0.60%
Loss Severity	[6]			11.30%
Fair Value, Measurements, Nonrecurring [Member] | Non-Performing Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount Rate				6.50%
Weighted Average Life (Years)	[5]			3 years 2 months 23 days
Prepayment Rate				3.00%
CDR	[7]			3.00%
Loss Severity	[6]			30.00%
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value		110,369		$ 110,369
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member] | Performing Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value		88,474		88,474
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member] | Non-Performing Loans [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value		$ 21,895		$ 21,895
[1]	The weighted average life is based on the expected timing of the receipt of cash flows.
[2]	Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance.
[3]	Carrying value and fair value represent a 70% participation interest New Residential holds in the portfolio of reverse mortgage loans.
[4]	Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.
[5]	The weighted average life is based on the expected timing of the receipt of cash flows.
[6]	Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance.
[7]	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 - Narrative (Details) - USD ($)	Sep. 23, 2016	Jun. 27, 2016	Mar. 22, 2016	Dec. 10, 2015	Aug. 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jan. 19, 2016	Dec. 31, 2015
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Dividend declared per Share of Common Stock (in dollars per share)	$ 0.46	$ 0.46	$ 0.46	$ 0.46		$ 0.46	$ 0.46	$ 1.38	$ 1.29
Dividends	$ 115,400,000	$ 106,000,000	$ 106,000,000	$ 106,000,000				$ 327,399,000
Common stock repurchase amount authorized (up to)										$ 200,000,000
Stock issued during period, shares, new issues (in shares)					20,000,000
Shares issued, price per share (in dollars per share)					$ 14.20
Issuance of common stock					$ 278,775,000			278,775,000
Issuance of common stock								$ 279,600,000	$ 882,166,000
Options granted (in shares)								2,002,000
Options exercised (in shares)								1,100,497
Weighted average exercise price, exercised (in dollars per share)								$ 10.59
Common stock, shares outstanding (in shares)						250,773,117		250,773,117			230,471,202
Share price (in dollars per share)						$ 13.81		$ 13.81
Diluted common stock equivalent, shares outstanding, adjustment (in shares)						497,690	759,667	309,544	2,821,758
Fortress [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Common stock, shares outstanding (in shares)						2,400,000		2,400,000
Manager [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Stock issued during period, shares, new issues (in shares)					280,111
Options granted (in shares)					2,000,000
Options granted in period, fair value (in shares)					$ 2,300,000
Options exercised (in shares)					1,100,497
Weighted average exercise price, exercised (in dollars per share)					$ 10.59
Employee Stock Option [Member] | Manager [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Risk free interest rate					1.45%
Expected dividend rate					11.80%
Expected volatility rate					27.57%
Expected term (in years)					10 years

EQUITY AND EARNINGS PER SHAR114

EQUITY AND EARNINGS PER SHARE - Options Outstanding by Issuance (Details)	Sep. 30, 2016shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	13,281,610
Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	11,219,872
Management [Member] | Issued Prior to 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	345,720
Management [Member] | Issued in 2011 - 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	10,874,152
Manager's Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	2,055,738
Manager's Employees [Member] | Issued Prior to 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	88,280
Manager's Employees [Member] | Issued in 2011 - 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	1,967,458
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	6,000
Director [Member] | Issued Prior to 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	0
Director [Member] | Issued in 2011 - 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	6,000
Other Affiliates [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	13,281,610
Other Affiliates [Member] | Issued Prior to 2011 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	434,000
Other Affiliates [Member] | Issued in 2011 - 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	12,847,610

EQUITY AND EARNINGS PER SHAR115

EQUITY AND EARNINGS PER SHARE - Summary of Outstanding Options - Period End (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	13,281,610
Options Exercisable (in shares)	7,411,924
Options Granted in 2006 to 2007 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	88,280
Options Granted in 2006 to 2007 [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share) | $ / shares	$ 29.92
Options Granted in 2006 to 2007 [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share) | $ / shares	$ 33.80
Options Granted in 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	0
Options Granted in 2013 [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share) | $ / shares	$ 10.24
Options Granted in 2013 [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share) | $ / shares	$ 11.48
Options Granted in 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	258,750
Weighted average exercise price (in dollars per share) | $ / shares	$ 12.20
Options Granted in 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	1,708,708
Options Granted in 2015 [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share) | $ / shares	$ 15.25
Options Granted in 2015 [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share) | $ / shares	$ 15.88
Options Granted in 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	0
Options Granted in 2016 [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share) | $ / shares	$ 13.65
Options Granted in 2016 [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share) | $ / shares	$ 14.20
Options Assigned [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	2,055,738
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	6,000
Director [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recipient	Directors
Date of Grant	Various	[1]
Number of options (in shares)	6,000
Options Exercisable (in shares)	6,000
Weighted average exercise price (in dollars per share) | $ / shares	$ 13.60	[2]
Intrinsic value of exercisable options | $	$ 0
2003 - 2007 [Member] | Manager [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recipient	Manager	[3]
Date of Grant	2003 - 2007	[1],[3]
Number of options (in shares)	434,000	[3]
Options Exercisable (in shares)	434,000	[3]
Weighted average exercise price (in dollars per share) | $ / shares	$ 31.36	[2],[3]
Intrinsic value of exercisable options | $	$ 0	[3]
2011-2012 [Member] | Manager [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recipient	Manager	[3]
Date of Grant	2011 - 2012	[1],[3]
Number of options (in shares)	25,000	[3]
Options Exercisable (in shares)	25,000	[3]
Weighted average exercise price (in dollars per share) | $ / shares	$ 7.19	[2],[3]
Intrinsic value of exercisable options | $	$ 0.2	[3]
2013 [Member] | Manager [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recipient	Manager	[3]
Date of Grant	2,013	[1],[3]
Number of options (in shares)	835,571	[3]
Options Exercisable (in shares)	835,571	[3]
Weighted average exercise price (in dollars per share) | $ / shares	$ 11.48	[2],[3]
Intrinsic value of exercisable options | $	$ 2	[3]
2014 [Member] | Manager [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recipient	Manager	[3]
Date of Grant	2,014	[1],[3]
Number of options (in shares)	1,437,500	[3]
Options Exercisable (in shares)	1,389,583	[3]
Weighted average exercise price (in dollars per share) | $ / shares	$ 12.20	[2],[3]
Intrinsic value of exercisable options | $	$ 2.2	[3]
2015 [Member] | Manager [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recipient	Manager	[3]
Date of Grant	2,015	[1],[3]
Number of options (in shares)	8,543,539	[3]
Options Exercisable (in shares)	4,655,103	[3]
Weighted average exercise price (in dollars per share) | $ / shares	$ 15.44	[2],[3]
Intrinsic value of exercisable options | $	$ 0	[3]
2016 [Member] | Manager [Member] | Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recipient	Manager	[3]
Date of Grant	2,016	[1],[3]
Number of options (in shares)	2,000,000	[3]
Options Exercisable (in shares)	66,667	[3]
Weighted average exercise price (in dollars per share) | $ / shares	$ 14.20	[2],[3]
Intrinsic value of exercisable options | $	$ 0	[3]
[1]	Options expire on the tenth anniversary from date of grant.
[2]	The exercise prices are subject to adjustment in connection with return of capital dividends.
[3]	The Manager assigned certain of its options to Fortress’s employees as follows: Date of Grant Range of ExercisePrices Total UnexercisedInception to Date2006-2007 $29.92 to $33.80 88,2802013 $10.24 to $11.48 —2014 $12.20 258,7502015 $15.25 to $15.88 1,708,7082016 $13.65 to $14.20 —Total 2,055,738

EQUITY AND EARNINGS PER SHAR116

EQUITY AND EARNINGS PER SHARE - Summary of Outstanding Options (Details)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance, Outstanding options (in shares)	12,380,107
Options granted (in shares)	2,002,000
Options exercised (in shares)	(1,100,497)
Options expired unexercised (in shares)	0
Ending balance, Outstanding options (in shares)	13,281,610
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, granted (in dollars per share) | $ / shares	$ 14.20
Weighted average exercise price, exercised (in dollars per share) | $ / shares	10.59
Weighted average exercise price, expired (in dollars per share) | $ / shares

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - lawsuit	Nov. 09, 2015	Nov. 08, 2015	Feb. 13, 2015
Putative Class Action Lawsuits [Member]
Loss Contingencies [Line Items]
Number of claims			3
Shareholder Derivative Actions [Member]
Loss Contingencies [Line Items]
Number of claims	1	3

TRANSACTIONS WITH AFFILIATES118

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	May 15, 2013
Related Party Transaction [Line Items]
Management agreement, renewal term (in years)	1 year
Termination fee, number of months' pay (in months)	12 months
Proportion of directors' votes needed to terminate	0.6666666667000
Accruals for MSR Fund Payments	$ 0.3
Investment Interest Income - Excess MSRs [Member] | Credit Concentration Risk [Member] | Nationstar [Member]
Related Party Transaction [Line Items]
Percentage of UPB of loans underlying investments	63.80%
Investment Interest Income - Servicer Advances [Member] | Credit Concentration Risk [Member] | Nationstar [Member]
Related Party Transaction [Line Items]
Percentage of UPB of loans underlying investments	34.00%
FIG LLC [Member]
Related Party Transaction [Line Items]
Management fee rate (percent)		1.50%
Incentive compensation percentage		25.00%
Interest rate for incentive compensation		10.00%
Nationstar [Member] | Residential Mortgage [Member]
Related Party Transaction [Line Items]
Unpaid Principal Balance	$ 534.7
Nationstar [Member] | Real Estate Owned [Member]
Related Party Transaction [Line Items]
Unpaid balance of real estate owned	28.3
Nationstar [Member] | Non-Agency RMBS [Member]
Related Party Transaction [Line Items]
Face amount of investment	4,100
Unpaid Principal Balance	$ 14,200
Redemption premium percentage	0.75%
Nationstar [Member] | Agency RMBS [Member]
Related Party Transaction [Line Items]
Face amount of investment	$ 28.5

TRANSACTIONS WITH AFFILIATES119

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES - Schedule of Affiliate Transactions (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Due to Affiliate, Total		$ 18,610		$ 18,610		$ 23,785
Management fees		10,536	$ 9,860	30,552	$ 23,357
Incentive compensation		7,075	1,811	13,200	7,895
FIG LLC [Member]
Related Party Transaction [Line Items]
Management fees		3,688		3,688		6,671
Incentive compensation		13,200		13,200		16,017
Expense reimbursements and other		1,722		1,722		1,097
Due to Affiliate, Total		18,610		18,610		$ 23,785
Management fees		10,536	9,860	30,552	23,357
Incentive compensation		7,075	1,811	13,200	7,895
Expense reimbursements	[1]	125	125	375	375
Total payments to affiliate		$ 17,736	$ 11,796	$ 44,127	$ 31,627
[1]	Included in General and Administrative Expenses in the Condensed Consolidated Statements of Income.

RECLASSIFICATION FROM ACCUMU120

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME - Summary of Amounts Reclassified out of Accumulated Other Comprehensive Income into Net Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other-than-temporary impairment (OTTI) on securities	$ 1,765	$ 1,574	$ 7,838	$ 3,294
Total reclassifications	2,444	(22,880)	(7,234)	(27,936)
Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain on settlement of investments, net	679	(24,454)	(15,072)	(31,230)
Other-than-temporary impairment (OTTI) on securities	$ 1,765	$ 1,574	$ 7,838	$ 3,294

INCOME TAXES - Schedule of Inco

INCOME TAXES - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Current:
Federal	$ 3,290	$ 505	$ 4,561	$ 1,135
State and Local	478	(982)	636	(2,073)
Total Current Income Tax Expense (Benefit)	3,768	(477)	5,197	(938)
Deferred:
Federal	16,375	(3,193)	12,575	8,764
State and Local	757	(2,262)	423	(2,879)
Total Deferred Income Tax Expense (Benefit)	17,132	(5,455)	12,998	5,885
Total Income Tax Expense (Benefit)	$ 20,900	$ (5,932)	$ 18,195	$ 4,947

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Deferred tax asset, net	$ 172,510	$ 185,311

SUBSEQUENT EVENTS - Narrative (

SUBSEQUENT EVENTS - Narrative (Details)	Sep. 23, 2016USD ($)$ / shares	Aug. 08, 2016USD ($)Loan	Oct. 31, 2016USD ($)Class	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)
Subsequent Event [Line Items]
Dividend declared per share (in dollars per share) | $ / shares	$ 0.46
Payment of common stock dividends	$ 115,400,000
Face amount of debt				$ 12,782,716,000
Payments to acquire loans receivable				$ 2,022,000	$ 131,488,000
New Residential Mortgage LLC [Member]
Subsequent Event [Line Items]
Payments to acquire loans receivable		$ 240,000,000
Servicer advances		28,100,000
New Residential Mortgage LLC [Member] | Walter Capital Opportunity [Member]
Subsequent Event [Line Items]
Payments to acquire loans receivable		299,900,000
Servicer advances		$ 40,800,000
Mortgage Servicing Rights, Subservicing Agreement [Member] | New Residential Mortgage LLC [Member]
Subsequent Event [Line Items]
Long-term purchase commitment, period (in years)		1 year
Long-term purchase agreement, renewal period (in years)		1 year
Weighted average subservicing rate		0.077%
Mortgage Servicing Rights [Member] | New Residential Mortgage LLC [Member]
Subsequent Event [Line Items]
Number of MSRs purchased | Loan		254,531
Unpaid Principal Balance		$ 32,300,000,000
Long-term purchase commitment, period (in years)		3 years
Long-term purchase agreement, renewal period (in years)		1 year
Long-term purchase agreement, termination notice term (in days)		30 days
Mortgage Servicing Rights [Member] | New Residential Mortgage LLC [Member] | Walter Capital Opportunity [Member]
Subsequent Event [Line Items]
Unpaid Principal Balance		$ 34,200,000,000
Subsequent Event [Member] | Secured Debt [Member]
Subsequent Event [Line Items]
Face amount of debt			$ 345,000,000
Interest rate			5.68%
Subsequent Event [Member] | Secured Debt [Member] | Consumer Loan Companies [Member]
Subsequent Event [Line Items]
Face amount of debt			$ 1,700,000,000
Number of classes of debt | Class			6
Face amount, amount voluntarily retained			$ 157,600,000
Loss on extinguishment of debt			4,700,000
2016-T2 [Member] | Subsequent Event [Member] | Secured Debt [Member]
Subsequent Event [Line Items]
Face amount of debt			500,000,000
2016-T3 [Member] | Subsequent Event [Member] | Secured Debt [Member]
Subsequent Event [Line Items]
Face amount of debt			$ 400,000,000
Consumer Loan Companies [Member] | Parent Company [Member]
Subsequent Event [Line Items]
Parent's ownership percentage				53.50%