Rithm Capital (RITM) 10-Q 29 Oct 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2020	Oct. 21, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-35777
Entity Registrant Name	New Residential Investment Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3449660
Entity Address, Address Line One	1345 Avenue of the Americas
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10105
City Area Code	(212)
Local Phone Number	798-3150
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		415,744,518
Entity Central Index Key	0001556593
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Common Stock, $0.01 par value per share
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	NRZ
Security Exchange Name	NYSE
7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Trading Symbol	NRZ PR A
Security Exchange Name	NYSE
7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Trading Symbol	NRZ PR B
Security Exchange Name	NYSE
6.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	6.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Trading Symbol	NRZ PR C
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Assets
Excess mortgage servicing rights assets, at fair value		$ 435,982	$ 505,343
Mortgage servicing rights, at fair value		3,651,805	3,967,960
Mortgage servicing rights financing receivables, at fair value		1,129,819	1,718,273
Servicer advance investments, at fair value	[1]	535,760	581,777
Real estate and other securities		10,830,067	19,477,728
Residential mortgage loans		4,936,826	6,042,664
Residential mortgage loans subject to repurchase	[2]	1,458,325	172,336
Cash and cash equivalents	[1]	841,022	528,737
Restricted cash		180,554	162,197
Servicer advances receivable		2,857,040	3,301,374
Trades receivable	[1]	946,321	5,256,014
Other assets		1,161,933	1,395,800
Total assets		30,406,364	44,863,454
Liabilities
Secured financing agreements		14,666,868	27,916,225
Secured notes and bonds payable	[1]	7,733,648	7,720,148
Residential mortgage loan repurchase liability	[2]	1,458,325	172,336
Unsecured senior notes, net of issuance costs	[1]	541,758	0
Trades payable		210	902,081
Due to affiliates		9,545	103,882
Dividends payable		69,541	211,732
Accrued expenses and other liabilities	[1]	497,838	600,790
Total liabilities		24,977,733	37,627,194
Commitments and Contingencies
Equity
Common Stock, $0.01 par value, 2,000,000,000 shares authorized, 415,744,518 and 415,520,780 issued and outstanding at September 30, 2020 and December 31, 2019, respectively		4,158	4,156
Additional paid-in capital		5,554,559	5,498,226
Retained earnings (accumulated deficit)		(1,094,589)	549,733
Accumulated other comprehensive income (loss)		52,074	682,151
Total New Residential stockholders’ equity		5,329,194	7,157,710
Noncontrolling interests in equity of consolidated subsidiaries		99,437	78,550
Total equity		5,428,631	7,236,260
Liabilities and Equity		30,406,364	44,863,454
Variable Interest Entity, Primary Beneficiary
Assets
Residential loans and variable interest entity consumer loans held-for-investment, at fair value	[1]	1,440,910	1,753,251
7.50% Series A Preferred Stock
Equity
Preferred Stock		150,026	150,026
7.125% Series B Preferred Stock
Equity
Preferred Stock		273,418	273,418
6.375% Series C Preferred Stock
Equity
Preferred Stock		$ 389,548	$ 0
[1]	See Note 13 regarding consolidated VIEs.
[2]	See Note 8 for details.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Residential mortgage loans, held-for-sale, fair value	$ 4,358,473	$ 4,613,612
Notes and bonds payable, fair value	$ 1,756,632	$ 659,738
Preferred stock, par values (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000	100,000,000
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)	415,744,518	415,520,780
Common stock, shares outstanding (in shares)	415,744,518	415,520,780
7.50% Series A Preferred Stock
Preferred stock, par values (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	11,500,000	11,500,000
Interest rate	7.50%	7.50%
Preferred stock, shares issued (in shares)	6,210,000	6,210,000
Preferred stock, shares outstanding (in shares)	6,210,000	6,210,000
7.125% Series B Preferred Stock
Preferred stock, par values (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	11,500,000	11,500,000
Interest rate	7.125%
Preferred stock, shares issued (in shares)	11,300,000	11,300,000
Preferred stock, shares outstanding (in shares)	11,300,000	11,300,000
6.375% Series C Preferred Stock
Preferred stock, par values (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	16,100,000	16,100,000
Interest rate	6.375%
Preferred stock, shares issued (in shares)	16,100,000	16,100,000
Preferred stock, shares outstanding (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues
Interest income	$ 233,848	$ 448,127	$ 868,419	$ 1,303,041
Servicing revenue, net of change in fair value of $(395,064), $(228,405), $(1,485,472), and $(619,914), respectively	(43,929)	53,050	(459,313)	133,366
Gain on originated mortgage loans, held-for-sale, net	495,098	126,747	984,818	294,935
Revenues	685,017	627,924	1,393,924	1,731,342
Expenses
Interest expense	130,528	245,902	463,786	686,738
General and administrative expenses	316,560	193,580	859,601	525,289
Management fee to affiliate	22,482	20,678	66,682	58,261
Incentive compensation to affiliate	0	36,307	0	49,265
Total operating expenses	469,570	496,467	1,390,069	1,319,553
Other Income (Loss)
Change in fair value of investments	89,092	2,212	(374,408)	(55,534)
Gain (loss) on settlement of investments, net	(94,457)	133,670	(968,995)	96,385
Earnings from investments in consumer loans, equity method investees	0	(2,547)	0	(890)
Other income (loss), net	5,385	(30,695)	(34,635)	(27,234)
Realized and unrealized gains (losses)	20	102,640	(1,378,038)	12,727
Impairment
Provision (reversal) for credit losses on securities	(3,849)	5,567	15,166	21,942
Valuation and credit loss provision (reversal) on loans and real estate owned (“REO”)	14,584	(10,690)	118,504	8,042
Total impairment charges	10,735	(5,123)	133,670	29,984
Income (Loss) Before Income Taxes	204,732	239,220	(1,507,853)	394,532
Income tax expense (benefit)	100,812	(5,440)	(48,647)	18,980
Net income (loss)	103,920	244,660	(1,459,206)	375,552
Noncontrolling Interests in Income of Consolidated Subsidiaries	11,640	14,738	34,118	31,979
Dividends on Preferred Stock	14,359	5,338	39,938	5,338
Net Income (Loss) Attributable to Common Stockholders	$ 77,921	$ 224,584	$ (1,533,262)	$ 338,235
Net Income (Loss) Per Share of Common Stock
Basic (in dollars per share)	$ 0.19	$ 0.54	$ (3.69)	$ 0.83
Diluted (in dollars per share)	$ 0.19	$ 0.54	$ (3.69)	$ 0.83
Weighted Average Number of Shares of Common Stock Outstanding
Basic (in shares)	415,744,518	415,520,780	415,665,441	406,521,273
Diluted (in shares)	420,968,626	415,588,238	415,665,441	406,671,972
Dividend declared per Share of Common Stock (in dollars per share)	$ 0.15	$ 0.50	$ 0.30	$ 1.50

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Income (Unaudited) (Parenthentical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Servicing revenue, change in fair value	$ (395,064)	$ (228,405)	$ (1,485,472)	$ (619,914)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Comprehensive income (loss), net of tax
Net income (loss)	$ 103,920	$ 244,660	$ (1,459,206)	$ 375,552
Other comprehensive income (loss)
Net unrealized gain (loss) on securities	17,535	109,668	108,308	469,183
Reclassification of net realized (gain) loss on securities into earnings	3,809	(89,436)	(738,385)	(179,280)
Total other comprehensive income (loss)	21,344	20,232	(630,077)	289,903
Total comprehensive income (loss)	125,264	264,892	(2,089,283)	665,455
Comprehensive income (loss) attributable to noncontrolling interests	11,640	14,738	34,118	31,979
Dividends on preferred stock	14,359	5,338	39,938	5,338
Comprehensive income (loss) attributable to common stockholders	$ 99,265	$ 244,816	$ (2,163,339)	$ 628,138

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income	Total New Residential Stockholders’ Equity	Noncontrolling Interests in Equity of Consolidated Subsidiaries	Common Stock	Common StockCommon Stock	Common StockAdditional Paid-in Capital	Common StockRetained Earnings (Accumulated Deficit)	Common StockTotal New Residential Stockholders’ Equity	Preferred Stock	Preferred StockPreferred Stock	Preferred StockRetained Earnings (Accumulated Deficit)	Preferred StockTotal New Residential Stockholders’ Equity	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, AdjustmentRetained Earnings (Accumulated Deficit)	Cumulative Effect, Period of Adoption, AdjustmentTotal New Residential Stockholders’ Equity	Cumulative Effect, Period of Adoption, AdjustmentNoncontrolling Interests in Equity of Consolidated Subsidiaries
Equity, beginning balance (in shares) at Dec. 31, 2018		0	369,104,429
Equity, beginning balance at Dec. 31, 2018	$ 6,088,295	$ 0	$ 3,692	$ 4,746,242	$ 830,713	$ 417,023	$ 5,997,670	$ 90,625
Increase (Decrease) in Stockholders' Equity [Roll Forward]
2020 Warrants	0
Dividends declared on common stock	(623,235)				(623,235)		(623,235)
Dividends declared on preferred stock														$ (5,338)		$ (5,338)	$ (5,338)
Capital distributions	(38,952)							(38,952)
Issuance of stock (in shares)										46,000,000					17,510,000
Issuance of stock									$ 751,393	$ 460	$ 750,933		$ 751,393	423,444	$ 423,444		423,444
Options exercise (in shares)			348,613
Option exercise			$ 3	(3)
Director share grants (in shares)			67,738
Director share grants	1,055		$ 1	1,054			1,055
Comprehensive income (loss)
Net income (loss)	375,552				343,573		343,573	31,979
Net unrealized gain (loss) on securities	469,183					469,183	469,183
Reclassification of net realized (gain) loss on securities into earnings	(179,280)					(179,280)	(179,280)
Total comprehensive income (loss)	665,455						633,476	31,979
Equity, ending balance (in shares) at Sep. 30, 2019		17,510,000	415,520,780
Equity, ending balance at Sep. 30, 2019	7,262,117	$ 423,444	$ 4,156	5,498,226	545,713	706,926	7,178,465	83,652
Equity, beginning balance (in shares) at Dec. 31, 2018		0	369,104,429
Equity, beginning balance at Dec. 31, 2018	$ 6,088,295	$ 0	$ 3,692	4,746,242	830,713	417,023	5,997,670	90,625
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Equity, ending balance (in shares) at Dec. 31, 2019		17,510,000	415,520,780
Equity, ending balance at Dec. 31, 2019	$ 7,236,260	$ 423,444	$ 4,156	5,498,226	549,733	682,151	7,157,710	78,550										$ 30,453	$ 13,658	$ 13,658	$ 16,795
Equity, beginning balance (in shares) at Jun. 30, 2019		0	415,520,780
Equity, beginning balance at Jun. 30, 2019	6,800,830	$ 0	$ 4,156	5,498,226	528,889	686,694	6,717,965	82,865
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock	(207,760)				(207,760)		(207,760)
Dividends declared on preferred stock	(5,338)				(5,338)		(5,338)
Capital contributions	0
Capital distributions	(13,951)							(13,951)
Issuance of stock (in shares)															17,510,000
Issuance of stock														423,444	$ 423,444		423,444
Comprehensive income (loss)
Net income (loss)	244,660				229,922		229,922	14,738
Net unrealized gain (loss) on securities	109,668					109,668	109,668
Reclassification of net realized (gain) loss on securities into earnings	(89,436)					(89,436)	(89,436)
Total comprehensive income (loss)	264,892						250,154	14,738
Equity, ending balance (in shares) at Sep. 30, 2019		17,510,000	415,520,780
Equity, ending balance at Sep. 30, 2019	7,262,117	$ 423,444	$ 4,156	5,498,226	545,713	706,926	7,178,465	83,652
Equity, beginning balance (in shares) at Dec. 31, 2019		17,510,000	415,520,780
Equity, beginning balance at Dec. 31, 2019	$ 7,236,260	$ 423,444	$ 4,156	5,498,226	549,733	682,151	7,157,710	78,550										$ 30,453	$ 13,658	$ 13,658	$ 16,795
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
2020 Warrants	$ 53,462			53,462			53,462
Dividends declared on common stock									(124,718)			$ (124,718)	(124,718)
Dividends declared on preferred stock														(39,938)		$ (39,938)	(39,938)
Capital contributions	1,818							1,818
Capital distributions	$ (31,844)							(31,844)
Issuance of stock (in shares)										97,394					16,100,000
Issuance of stock									$ 1,662	$ 1	$ 1,661		$ 1,662	$ 389,548	$ 389,548		$ 389,548
Options exercise (in shares)	0
Director share grants (in shares)			126,344
Director share grants	$ 1,211		$ 1	1,210			1,211
Comprehensive income (loss)
Net income (loss)	(1,459,206)				(1,493,324)		(1,493,324)	34,118
Net unrealized gain (loss) on securities	108,308					108,308	108,308
Reclassification of net realized (gain) loss on securities into earnings	(738,385)					(738,385)	(738,385)
Total comprehensive income (loss)	(2,089,283)						(2,123,401)	34,118
Equity, ending balance (in shares) at Sep. 30, 2020		33,610,000	415,744,518
Equity, ending balance at Sep. 30, 2020	5,428,631	$ 812,992	$ 4,158	5,554,559	(1,094,589)	52,074	5,329,194	99,437
Equity, beginning balance (in shares) at Jun. 30, 2020		33,610,000	415,744,518
Equity, beginning balance at Jun. 30, 2020	5,388,972	$ 812,992	$ 4,158	5,554,559	(1,110,148)	30,730	5,292,291	96,681
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared on common stock	(62,362)				(62,362)		(62,362)
Dividends declared on preferred stock	(14,359)				(14,359)		(14,359)
Capital contributions	25							25
Capital distributions	(8,909)							(8,909)
Comprehensive income (loss)
Net income (loss)	103,920				92,280		92,280	11,640
Net unrealized gain (loss) on securities	17,535					17,535	17,535
Reclassification of net realized (gain) loss on securities into earnings	3,809					3,809	3,809
Total comprehensive income (loss)	125,264						113,624	11,640
Equity, ending balance (in shares) at Sep. 30, 2020		33,610,000	415,744,518
Equity, ending balance at Sep. 30, 2020	$ 5,428,631	$ 812,992	$ 4,158	$ 5,554,559	$ (1,094,589)	$ 52,074	$ 5,329,194	$ 99,437

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Stockholders' Equity [Abstract]
Dividends declared on common stock (in dollars per share)	$ 0.15	$ 0.50	$ 0.30	$ 1.50

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020		Sep. 30, 2019
Cash Flows From Operating Activities
Net income	$ (1,459,206)		$ 375,552
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 assets	(14,675)		2,666
Change in fair value of investments in mortgage servicing rights financing receivables	245,906		133,200
Change in fair value of servicer advance investments	(431)		(15,932)
Change in fair value of residential mortgage loans, at fair value	108,306		(75,095)
Change in fair value of secured notes and bonds payable	(535)		0
Change in fair value of investments in real estate and other securities	531		(9,010)
(Gain) loss on settlement of investments, net	904,200		(104,917)
(Gain) loss on sale of originated mortgage loans, net	(984,818)		(294,935)
Earnings from investments in consumer loans, equity method investees	0		890
(Gain) loss on extinguishment of debt	64,795		8,532
Change in fair value of derivative instruments	(4,213)		25,037
Change in fair value of contingent consideration	5,949		7,430
Change in fair value of investments in consumer loans, held-for-investment	9,634		0
Change in fair value of equity investments	52,413		659
(Gain) loss on transfer of loans to REO	(5,010)		(7,814)
(Gain) loss on transfer of loans to other assets	773		378
(Gain) loss on Excess MSR recapture agreements	12,191		(1,771)
(Gain) loss on Ocwen common stock	(221)		(3,134)
Accretion and other amortization	(127,456)		(298,933)
Provision for credit losses on securities	15,166		21,942
Valuation and credit loss provision on loans and real estate owned	118,504		8,042
Non-cash portions of servicing revenue, net	1,485,472		619,914
Non-cash directors’ compensation	1,211		1,055
Deferred tax provision	(42,439)		18,080
Changes in:
Servicer advances receivable	470,221		366,426
Other assets	154,969		(509,745)
Due to affiliates	(94,337)		(41,920)
Accrued expenses and other liabilities	(186,705)		263,420
Other operating cash flows:
Interest and distributions received from excess mortgage servicing rights assets	27,415		26,942
Interest received from servicer advance investments	14,183		22,212
Interest received from Non-Agency RMBS	137,000		203,309
Interest received from residential mortgage loans, held-for-investment	3,907		6,697
Interest received from consumer loans, held-for-investment	0		23,789
Purchases of residential mortgage loans, held-for-sale	(2,390,498)		(6,002,975)
Origination of residential mortgage loans, held-for-sale	(36,801,062)		(10,424,325)
Proceeds from sales of purchased and originated residential mortgage loans, held-for-sale	39,908,942		13,046,546
Principal repayments from purchased residential mortgage loans, held-for-sale	226,436		295,584
Net cash provided by (used in) operating activities	1,885,868		(2,316,358)
Cash Flows From Investing Activities
Purchase of servicer advance investments	(991,289)		(1,255,306)
Purchase of Non-Agency RMBS	(56,515)		(689,308)
Purchase of real estate owned and other assets	(5,347)		(44,539)
Purchase of investment in consumer loans, equity method investees	0		(63,969)
Draws on revolving consumer loans	(25,008)		(42,231)
Payments for settlement of derivatives	(160,465)		(283,037)
Return of investments in excess mortgage servicing rights assets	40,101		55,968
Return of investments, equity method investees	0		55,848
Principal repayments from servicer advance investments	1,036,634		1,402,187
Principal repayments from Agency RMBS	838,200		987,523
Principal repayments from Non-Agency RMBS	358,322		996,396
Principal repayments from residential mortgage loans	100,433		83,483
Proceeds from sale of residential mortgage loans	0		41,308
Principal repayments from consumer loans	176,125		203,607
Proceeds from MSRs and MSR financing receivables	64,623		21,306
Proceeds from sale of mortgage servicing rights financing receivables	14,160
Proceeds from sale of excess mortgage servicing rights	144		114
Proceeds from sale of Agency RMBS	23,249,507		17,998,736
Proceeds from sale of Non-Agency RMBS	5,292,717		1,664,017
Proceeds from settlement of derivatives	65,650		74,724
Proceeds from sale of real estate owned	84,733		103,258
Net cash provided by (used in) investing activities	10,967,711		(5,250,933)
Cash Flows From Financing Activities
Repayments of secured financing agreements	(113,038,497)		(144,545,608)
Repayments of warehouse credit facilities	(40,782,950)		0
Margin deposits under secured financing agreements and derivatives	(3,519,989)		(2,913,627)
Proceeds for issuance of term loan	544,400
Repayment of term loan	(600,000)		0
Proceeds for issuance of unsecured senior notes	592,400		0
Repayments of secured notes and bonds payable	(7,040,542)		(7,306,541)
Deferred financing fees	(31,863)		(7,821)
Common stock dividends paid	(270,117)		(600,027)
Preferred Stock dividends paid	(36,730)		0
Borrowings under secured financing agreements	101,149,869		152,101,817
Borrowings under warehouse credit facilities	39,427,045		0
Return of margin deposits under secured financing agreements and derivatives	3,717,645		2,589,160
Borrowings under secured notes and bonds payable	7,057,202		7,600,342
Issuance of preferred stock	389,548		423,444
Issuance of common stock	1,734		752,217
Costs related to issuance of common stock	(72)		(824)
Noncontrolling interests in equity of consolidated subsidiaries - contributions	1,818		0
Noncontrolling interests in equity of consolidated subsidiaries - distributions	(31,844)		(38,952)
Payment of contingent consideration	(51,994)		0
Net cash provided by (used in) financing activities	(12,522,937)		8,053,580
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash	330,642		486,289
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	690,934		415,078
Cash, Cash Equivalents, and Restricted Cash, End of Period	1,021,576		901,367
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest	450,792		643,349
Cash paid during the period for income taxes	105		1,208
Supplemental Schedule of Non-Cash Investing and Financing Activities
Dividends declared by not paid	69,541
Warrants issued with term loan	53,462		0
Purchase of investments, primarily Agency and Non-Agency RMBS, settled after quarter-end	210		2,536,188
Sale of investments, primarily Non-Agency RMBS, settled after quarter-end	946,321		4,487,772
Transfer from residential mortgage loans to real estate owned and other assets	56,297		70,080
Transfer from residential mortgage loans, held-for-investment to residential mortgage loans, held-for-sale	0		38,842
Real estate securities retained from loan securitizations	518,515		454,310
Residential mortgage loans subject to repurchase	1,458,325	[1]	168,532
Agency Residential Mortgage Backed Securities
Cash Flows From Investing Activities
Purchase of Agency RMBS	(18,584,357)		(25,212,307)
Mortgage Servicing Rights
Cash Flows From Investing Activities
Purchase of MSRs, MSR financing receivables and servicer advances receivable	(530,657)		(1,365,333)
Supplemental Schedule of Non-Cash Investing and Financing Activities
MSR purchase price holdback	(45,014)		1,963
Consumer Loans
Other operating cash flows:
Distributions of earnings from equity method investees	0		1,178
MSRs
Cash Flows From Investing Activities
Proceeds from sale of mortgage servicing rights financing receivables	10,452		1,047
LoanCo
Supplemental Schedule of Non-Cash Investing and Financing Activities
Non-cash distributions from LoanCo	0		21,314
New Residential Mortgage LLC | MSRs | Mortgage Servicing Rights Financing Receivable
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Change in fair value of investments in mortgage servicing rights financing receivables	245,906		133,200
Cash Flows From Investing Activities
Proceeds from sale of mortgage servicing rights financing receivables	3,708		15,575
Common Stock
Supplemental Schedule of Non-Cash Investing and Financing Activities
Dividends declared by not paid	62,362		213,098
Preferred Stock
Supplemental Schedule of Non-Cash Investing and Financing Activities
Dividends declared by not paid	$ 14,359		$ 5,338
[1]	See Note 8 for details.

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2020
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,” or “the Company”) is a Delaware corporation that was formed as a limited liability company in September 2011 (commenced operations on December 8, 2011) for the purpose of making real estate related investments. New Residential is an independent publicly traded real estate investment trust (“REIT”) primarily focused on investing in residential mortgage related assets and 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 18, Income Taxes, for additional information regarding New Residential’s taxable REIT subsidiaries. New Residential, through its wholly-owned subsidiaries New Residential Mortgage LLC (“NRM”) and NewRez LLC (“NewRez”), is licensed or otherwise eligible to service residential mortgage loans in all states within the United States and the District of Columbia. Each of NRM and NewRez is also approved to service mortgage loans on behalf of investors, including the Federal National Mortgage Association (“Fannie Mae”) and Federal Home Loan Mortgage Corporation (“Freddie Mac”) (collectively, Government Sponsored Enterprises or “GSEs”) and, solely in the case of NewRez, Government National Mortgage Association (“Ginnie Mae”). NewRez is also eligible to perform servicing on behalf of other servicers (subservicing). NewRez currently originates, sells and securitizes, or has in the past originated, sold, and securitized, conventional (conforming to the underwriting standards of Fannie Mae or Freddie Mac; collectively referred to as “Agency” loans), government-insured Federal Housing Administration (“FHA”) and Department of Veterans Affairs (“VA”), and U.S Department of Agriculture (“USDA”) and non-qualified (“Non-QM”) residential mortgage loans. The GSEs or Ginnie Mae guarantee securitizations are completed under their applicable policies and guidelines. New Residential generally retains the right to service the underlying residential mortgage loans sold and securitized by NewRez. NRM and NewRez are required to conduct aspects of their operations in accordance with applicable policies and guidelines published by FHA, Fannie Mae and Freddie Mac. 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. See Note 16 for additional information. As of September 30, 2020, New Residential conducted its business through the following segments: (i) Origination, (ii) Servicing, (iii) MSR Related Investments, (iv) Residential Securities and Loans, (v) Consumer Loans and (vi) Corporate. Approximately 2.4 million shares of New Residential’s common stock were held by Fortress, through its affiliates, as of September 30, 2020. In addition, Fortress, through its affiliates, held options relating to approximately 10.9 million shares of New Residential’s common stock as of September 30, 2020. Interim Financial Statements The accompanying condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP’’ or “US GAAP”). 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 consolidated financial statements include the accounts of New Residential and its consolidated subsidiaries. All significant intercompany transactions and balances have been eliminated. New Residential consolidates those entities in which it has control over significant operating, financing and investing decisions of the entity, as well as those entities deemed to be variable interest entities (“VIEs”) in which New Residential is determined to be the primary beneficiary. For entities over which New Residential exercises significant influence, but which do not meet the requirements for consolidation, New Residential uses the equity method of accounting whereby it records its share of the underlying income of such entities. Distributions from equity method investees are classified in the condensed consolidated statements of cash flows based on the cumulative earnings approach, where all distributions up to cumulative earnings are classified as distributions of earnings. Beginning in the second quarter of 2020, the Company changed its presentation of certain balance sheet and income statement line items to better reflect changes in the business and how the Company is viewed and managed. As a result, the presentation of certain prior period amounts have been reclassified to be consistent with the current period presentation. Such reclassifications had no impact on net income, total assets, total liabilities, or stockholders’ equity. Use of Estimates In March 2020, the World Health Organization declared a pandemic related to the rapidly spreading coronavirus (“COVID-19”) outbreak, which has led to a global health emergency. In response to this outbreak, the governments of many countries have taken preventive and protective actions, such as restricting travel and business operations. Financial markets have also experienced extreme volatility and disruptions to capital and credit markets. As a result, economic uncertainties have arisen which have impacted and could continue to impact the Company’s operations and its financial position. The extent of the impact of COVID-19 on the Company’s operational and financial performance will depend on certain developments, including the duration and spread of the outbreak, regulatory and private sector responses, and the impact on the Company’s customers, workforce, and vendors, all of which are uncertain and cannot be predicted. The Company believes the estimates and assumptions underlying its condensed consolidated financial statements are reasonable and supportable based on the information available as of September 30, 2020; however, uncertainty over the ultimate impact COVID-19 will have on the global economy generally, and the Company’s business in particular, makes any estimates and assumptions as of September 30, 2020 inherently less certain than they would be absent the current and potential impacts of COVID-19. Actual results may materially differ from those estimates. Recent Accounting Pronouncements In June 2016, the FASB issued ASU 2016-13 Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments (“CECL”) . 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 collectability of the reported amount. The standard also changes the accounting for purchased credit deteriorated assets and available-for-sale securities, which requires the recognition of credit losses through a valuation allowance when fair value is less than amortized cost, regardless of whether the impairment is considered to be other-than-temporary. The standard provides an option to elect the fair value option for certain investments as an alternative to adopting ASU 2016-13. Lastly, an entity is required to apply ASU 2016-13 using the modified retrospective approach which requires a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The standard was effective for New Residential in the first quarter of 2020. Upon adoption of the standard, New Residential elected the fair value option on its held for investment residential mortgage and consumer loans portfolios. As a result, the Company recognized a positive adjustment of $13.7 million to retained earnings, composed of a $19.7 million increase attributable to the change in the fair value of consumer loans, net of noncontrolling interests, partially offset by a $6.0 million decrease attributable to the change in fair value of residential mortgage loans. For servicer advance receivables, the Company determined credit-related losses are not significant because of the contractual relationships with the agencies. For other assets, primarily trade receivables, the Company determined that these are short-term in nature (less than one year), and the estimated credit-related losses over the life of these receivables are not significant. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) . The standard: (i) adds incremental requirements for entities to disclose (a) the amount of total gains or losses for the period recognized in other comprehensive income that is attributable to fair value changes in assets and liabilities held as of the balance sheet date and categorized within Level 3 of the fair value hierarchy, (b) the range and weighted average used to develop significant unobservable inputs and (c) how the weighted average was calculated for fair value measurements categorized within Level 3 of the fair value hierarchy and (ii) eliminates disclosure requirements for (a) transfers between Level 1 and Level 2 and (b) valuation processes for Level 3 fair value measurements. ASU 2018-13 was effective for New Residential in the first quarter of 2020. The adoption of ASU 2018-13 did not have a material impact on the condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The standard was issued to ease the accounting effects of reform to the London Interbank Offered Rate (“LIBOR”) and other reference rates. The standard provides optional expedients and exceptions for applying GAAP to debt, derivatives, and other contracts affected by reference rate reform. The standard is effective for all entities as of March 12, 2020 through December 31, 2022 and may be elected over time as reference rate reform activities occur. The Company is currently evaluating the impact the adoption of this standard would have on its condensed consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt–Debt with Conversion and Other Options (Topic 470) and Derivatives and Hedging–Contracts in Entity’s Own Equity (Topic 815) . The standard simplifies the accounting for convertible instruments by reducing the number of accounting models. A convertible debt instrument will generally be reported as a single liability at its amortized cost with no separate accounting for embedded conversion features. The standard also amends the accounting for certain contracts in an entity’s own equity that are currently accounted for as derivatives because of specific settlement provisions. In addition, the new guidance eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. ASU 2020-16 is effective for New Residential beginning in the first quarter of 2022 with early adoption permitted beginning in 2021. The Company is currently evaluating the impact the adoption of this standard would have on its condensed consolidated financial statements.

OTHER INCOME (LOSS), GENERAL AN

OTHER INCOME (LOSS), GENERAL AND ADMINISTRATIVE, OTHER ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2020
Other Income Assets And Liabilities
OTHER INCOME (LOSS), GENERAL AND ADMINISTRATIVE, OTHER ASSETS AND LIABILITIES	OTHER INCOME (LOSS), GENERAL AND ADMINISTRATIVE, OTHER ASSETS AND LIABILITIES Change in fair value of investments — This item is composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Excess mortgage servicing rights $ (664) $ 2,407 $ (11,773) $ (1,421) Excess mortgage servicing rights, equity method investees (393) 4,751 (2,902) 4,087 Mortgage servicing rights financing receivables (20,275) (41,410) (245,906) (133,200) Servicer advance investments 3,143 6,641 431 15,932 Real estate and other securities 27,663 (5,054) (531) 9,010 Residential mortgage loans 56,940 (6,512) (108,306) 75,095 Consumer loans held-for-investment (411) — (9,634) — Derivative instruments 23,089 41,389 4,213 (25,037) $ 89,092 $ 2,212 $ (374,408) $ (55,534) Gain (Loss) on Settlement of Investments, Net — This item is composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Gain (loss) on sale of real estate securities $ 7,658 $ 95,003 $ (753,551) $ 201,222 Gain (loss) on sale of acquired residential mortgage loans 923 43,648 (8,343) 53,405 Gain (loss) on settlement of derivatives (23,192) (14,147) (133,099) (152,424) Gain (loss) on liquidated residential mortgage loans 165 (198) 2,546 (3,320) Gain (loss) on sale of REO 1,016 (3,169) 2,632 (9,445) Gain (loss) on extinguishment of debt (66,256) — (64,795) (8,532) Gain (loss) on Excess MSR recapture agreements (13,381) 529 (12,191) 1,771 Other gains (losses) (1,390) 12,004 (2,194) 13,708 $ (94,457) $ 133,670 $ (968,995) $ 96,385 Other Income (Loss), Net — This item is composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Unrealized gain (loss) on secured notes and bonds payable $ (5,611) $ (2,647) $ 535 $ (5,248) Unrealized gain (loss) on contingent consideration (2,079) (2,703) (5,949) (7,430) Unrealized gain (loss) on equity investments (4,716) (500) (52,413) (659) Gain (loss) on transfer of loans to REO 703 1,230 5,010 7,814 Gain (loss) on transfer of loans to other assets (512) (101) (773) (378) Gain (loss) on Ocwen common stock 4,342 (1,103) 221 3,134 Provision for servicing losses (3,734) 25 (19,764) (901) Rental and ancillary revenue 23,670 — 63,346 — Other income (loss) (6,678) (24,896) (24,848) (23,566) $ 5,385 $ (30,695) $ (34,635) $ (27,234) General and Administrative Expenses, Loan Servicing Expense and Subservicing Expense — General and administrative expenses are expensed as incurred and primarily include employee compensation, legal and professional fees, insurance premiums, and other costs. Loan servicing and subservicing expenses are expensed as incurred. General and Administrative Expenses is composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Compensation and benefits expense $ 68,595 $ 30,494 $ 179,434 $ 87,219 Compensation and benefits expense, origination 98,542 44,270 232,968 112,977 Legal and professional expense 22,209 16,442 63,798 46,352 Loan origination expense 29,935 17,882 75,970 42,349 Occupancy expense 9,356 5,114 26,195 14,079 Subservicing expense 55,376 52,875 159,679 147,763 Loan servicing expense 8,311 7,192 23,313 26,167 Other (A) 24,236 19,311 98,244 48,383 $ 316,560 $ 193,580 $ 859,601 $ 525,289 (A) Represents miscellaneous general and administrative expenses. Other Assets and Other Liabilities — Other assets and liabilities are composed of the following: Other Assets Accrued Expenses September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 Margin receivable, net (A) $ 48,050 $ 280,176 MSR purchase price holdback $ 31,167 $ 75,348 Servicing fee receivables 113,994 159,607 Interest payable 33,195 68,668 Due from servicers 92,500 163,961 Accounts payable 120,116 119,771 Principal and interest receivable 64,391 85,191 Derivative liabilities (Note 10) 37,820 6,885 Equity investments (B) 59,771 114,763 Due to servicers 65,212 85,728 Other receivables 109,530 117,045 Due to Agencies 25,659 42,118 Real Estate Owned 49,872 93,672 Contingent Consideration 13,628 55,222 Single-family rental properties 25,570 24,133 Accrued compensation and benefits 71,184 41,228 Goodwill (C) 29,468 29,737 Excess spread financing, at fair value 20,129 31,777 Notes Receivable (D) 50,516 37,001 Operating lease liabilities 31,901 38,520 Warrants, at fair value 22,799 28,042 Reserve for sales recourse 9,624 12,549 Recovery asset 15,310 23,100 Reserve for servicing losses 19,657 — Property and equipment 27,279 18,018 Other liabilities 18,546 22,976 Receivable from government agency (E) 16,823 19,670 $ 497,838 $ 600,790 Intangible assets 35,074 40,963 Prepaid expenses 21,757 19,249 Operating lease right-of-use assets 27,218 32,120 Derivative assets (Note 10) 255,496 41,501 Ocwen common stock, at fair value 8,172 7,952 Deferred tax asset, net 49,545 8,669 Other assets 38,798 51,230 $ 1,161,933 $ 1,395,800 (A) Represents collateral posted as a result of changes in fair value of our 1) real estate securities securing our secured financing agreements and 2) derivative instruments. (B) Represents equity investments in funds that invest in 1) a commercial redevelopment project, 2) operating companies in the single-family housing industry. The indirect investments are accounted for at fair value based on the net asset value (“NAV”) of New Residential’s investment and as an equity method investment, respectively. Equity investments also includes an investment in Covius Holding Inc. (“Covius”), a provider of various technology-enabled services to the mortgage and real estate industries. (C) Includes goodwill derived from the acquisition of Shellpoint Partners LLC (“Shellpoint”) and DGG RE Investments d/b/a Guardian Asset Management LLC (“Guardian”). (D) Represents a subordinated debt facility to Covius. (E) Represents claims receivable from the FHA on early buyout (“EBO”) and reverse mortgage loans for which foreclosure has been completed and for which New Residential has made or intends to make a claim on the FHA guarantee. As a result of the economic uncertainties arising from the COVID-19 pandemic, the impact of the uncertainty on the financial and mortgage-related asset markets, and the associated decreases in the Company’s common and preferred stock prices, the Company performed a qualitative impairment analysis for goodwill and intangible assets. Based on the analysis, the Company determined no impairment had occurred during the nine months ended September 30, 2020. Such analysis required management to assess current and future market conditions. Given the uncertainty inherent in the analysis, heightened by the possibility of unforeseen effects of COVID-19, actual results may differ from assumptions used, or conditions may change, which could result in impairment charges in the future. In the event that the Company concludes that all or a portion of its goodwill or intangible asset is impaired, a non-cash charge for the amount of such impairment would be recorded to earnings. Such a charge would have no impact on tangible capital. Accretion and Other Amortization — As reflected on the condensed consolidated statements of cash flows, this item is composed of the following: Nine Months Ended 2020 2019 Accretion of net discount on securities and loans $ 81,112 $ 266,467 Accretion of servicer advances receivable discount and servicer advance investments 38,967 18,290 Accretion of excess mortgage servicing rights income 25,177 18,203 Amortization of deferred financing costs (12,352) (2,984) Amortization of discount on secured notes and bonds payable (379) (1,043) Amortization of discount on term loan (5,069) — $ 127,456 $ 298,933 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. Real Estate Owned Balance at December 31, 2019 $ 93,672 Purchases 3,910 Transfer of loans to REO 31,764 Sales (A) (82,100) Valuation (provision) reversal on REO 2,626 Balance at September 30, 2020 $ 49,872 (A) Recognized when control of the property has transferred to the buyer. As of September 30, 2020, New Residential had residential mortgage loans that were in the process of foreclosure with an unpaid principal balance of $437.8 million. In addition, New Residential has recognize d $16.5 million

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING New Residential’s portfolio consists of the following segments: (i) Origination, (ii) Servicing, (iii) MSR Related Investments, (iv) Residential Securities and Loans, (v) Consumer Loans and (vi) Corporate, organized based on differences in services and products. The corporate segment consists primarily of general and administrative expenses, management fees and incentive compensation related to the Management Agreement, corporate cash and related interest income. 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 and Origination Residential Securities and Loans Origination Servicing MSR Related Investments Elimination (A) Total Servicing and Origination Real Estate Securities Residential Mortgage Loans Consumer Loans Corporate Total Three Months Ended September 30, 2020 Interest income $ 17,407 $ 373 $ 91,576 $ — $ 109,356 $ 61,034 $ 33,913 $ 29,545 $ — $ 233,848 Servicing revenue, net (3,767) 111,420 (80,987) (70,595) (43,929) — — — — (43,929) Gain on originated mortgage loans, held-for-sale, net 445,578 346 10,184 38,990 495,098 — — — — 495,098 Total revenues 459,218 112,139 20,773 (31,605) 560,525 61,034 33,913 29,545 — 685,017 Interest expense 10,977 90 59,650 — 70,717 15,652 19,326 5,809 19,024 130,528 G&A and other 136,086 81,767 149,426 (70,595) 296,684 930 10,361 3,361 27,706 339,042 Total operating expenses 147,063 81,857 209,076 (70,595) 367,401 16,582 29,687 9,170 46,730 469,570 Other income (loss) 123 — (19,753) — (19,630) 36,941 44,699 (5,240) (56,750) 20 Impairment — — 218 — 218 (3,849) 14,366 — — 10,735 Income (loss) before income taxes (B) 312,278 30,282 (208,274) 38,990 173,276 85,242 34,559 15,135 (103,480) 204,732 Income tax expense (benefit) 71,304 6,044 15,682 — 93,030 — 7,783 (1) — 100,812 Net income (loss) $ 240,974 $ 24,238 $ (223,956) $ 38,990 $ 80,246 $ 85,242 $ 26,776 $ 15,136 $ (103,480) $ 103,920 Noncontrolling interests in income (loss) of consolidated subsidiaries $ 4,840 $ — $ 2,612 $ — $ 7,452 $ — $ — $ 4,188 $ — $ 11,640 Dividends on preferred stock $ — $ — $ — $ — $ — $ — $ — $ — $ 14,359 $ 14,359 Net income (loss) attributable to common stockholders $ 236,134 $ 24,238 $ (226,568) $ 38,990 $ 72,794 $ 85,242 $ 26,776 $ 10,948 $ (117,839) $ 77,921 Servicing and Origination Residential Securities and Loans Origination Servicing MSR Related Investments Elimination (A) Total Servicing and Origination Real Estate Securities Residential Mortgage Loans Consumer Loans Corporate Total Nine Months Ended September 30, 2020 Interest income $ 43,105 $ 8,975 $ 299,315 $ — $ 351,395 $ 278,702 $ 141,118 $ 97,204 $ — $ 868,419 Servicing revenue, net (6,843) 295,047 (591,004) (156,513) (459,313) — — — — (459,313) Gain on originated mortgage loans, held-for-sale, net 885,730 948 65,424 26,054 978,156 — 6,662 — — 984,818 Total revenues 921,992 304,970 (226,265) (130,459) 870,238 278,702 147,780 97,204 — 1,393,924 Interest expense 30,071 397 178,027 — 208,495 141,340 67,570 18,691 27,690 463,786 G&A and other 338,760 220,026 374,868 (156,513) 777,141 8,128 46,395 10,947 83,672 926,283 Total operating expenses 368,831 220,423 552,895 (156,513) 985,636 149,468 113,965 29,638 111,362 1,390,069 Other income (loss) 497 499 (267,351) — (266,355) (881,261) (110,896) (16,007) (103,519) (1,378,038) Impairment — — 127 — 127 15,166 118,377 — — 133,670 Income (loss) before income taxes (B) 553,658 85,046 (1,046,638) 26,054 (381,880) (767,193) (195,458) 51,559 (214,881) (1,507,853) Income tax expense (benefit) 138,304 21,244 (143,824) — 15,724 — (64,501) 130 — (48,647) Net income (loss) $ 415,354 $ 63,802 $ (902,814) $ 26,054 $ (397,604) $ (767,193) $ (130,957) $ 51,429 $ (214,881) $ (1,459,206) Noncontrolling interests in income (loss) of consolidated subsidiaries $ 10,542 $ — $ (44) $ — $ 10,498 $ — $ — $ 23,620 $ — $ 34,118 Dividends on preferred stock $ — $ — $ — $ — $ — $ — $ — $ — $ 39,938 $ 39,938 Net income (loss) attributable to common stockholders $ 404,812 $ 63,802 $ (902,770) $ 26,054 $ (408,102) $ (767,193) $ (130,957) $ 27,809 $ (254,819) $ (1,533,262) Servicing and Origination Residential Securities and Loans Origination Servicing MSR Related Investments Elimination (A) Total Servicing and Origination Real Estate Securities Residential Mortgage Loans Consumer Loans Corporate Total September 30, 2020 Investments $ 2,843,720 $ — $ 5,753,366 $ — $ 8,597,086 $ 10,830,067 $ 2,887,350 $ 722,108 $ — $ 23,036,611 Cash and cash equivalents 99,321 50,942 406,965 — 557,228 160,764 4,681 7,195 111,154 841,022 Restricted cash 3,929 32,369 102,166 — 138,464 12,723 — 29,367 — 180,554 Other assets 369,988 191,398 4,466,009 — 5,027,395 1,005,847 193,394 59,968 32,105 6,318,709 Goodwill 11,836 12,540 5,092 — 29,468 — — — — 29,468 Total assets $ 3,328,794 $ 287,249 $ 10,733,598 $ — $ 14,349,641 $ 12,009,401 $ 3,085,425 $ 818,638 $ 143,259 $ 30,406,364 Debt $ 2,612,817 $ 6,669 $ 5,980,900 $ — $ 8,600,386 $ 10,877,414 $ 2,241,607 $ 681,109 $ 541,758 $ 22,942,274 Other liabilities 165,022 63,657 1,661,193 — 1,889,872 9,633 45,696 5,425 84,833 2,035,459 Total liabilities 2,777,839 70,326 7,642,093 — 10,490,258 10,887,047 2,287,303 686,534 626,591 24,977,733 Total equity 550,955 216,923 3,091,505 — 3,859,383 1,122,354 798,122 132,104 (483,332) 5,428,631 Noncontrolling interests in equity of consolidated subsidiaries 18,365 — 42,946 — 61,311 — — 38,126 — 99,437 Total New Residential stockholders’ equity $ 532,590 $ 216,923 $ 3,048,559 $ — $ 3,798,072 $ 1,122,354 $ 798,122 $ 93,978 $ (483,332) $ 5,329,194 Investments in equity method investees $ — $ — $ 139,351 $ — $ 139,351 $ — $ — $ — $ — $ 139,351 Servicing and Origination Residential Securities and Loans Origination Servicing MSR Related Investments Elimination (A) Total Servicing and Origination Real Estate Securities Residential Mortgage Loans Consumer Loans Corporate Total Three Months Ended September 30, 2019 Interest income $ 10,880 $ 8,847 $ 129,350 $ — $ 149,077 $ 184,933 $ 73,786 $ 40,331 $ — $ 448,127 Servicing revenue, net (548) 54,646 18,588 (19,636) 53,050 — — — — 53,050 Gain on originated mortgage loans, held-for-sale, net 104,126 348 15,554 (14,892) 105,136 — 21,611 — — 126,747 Total revenues 114,458 63,841 163,492 (34,528) 307,263 184,933 95,397 40,331 — 627,924 Interest expense 10,359 264 59,056 — 69,679 123,023 45,707 7,493 — 245,902 G&A and other 67,708 41,850 80,522 (19,636) 170,444 1,839 11,662 3,965 62,655 250,565 Total operating expenses 78,067 42,114 139,578 (19,636) 240,123 124,862 57,369 11,458 62,655 496,467 Other income (loss) (149) — (42,993) — (43,142) 116,081 33,541 (2,651) (1,189) 102,640 Impairment — — — — — 5,567 (16,553) 5,863 — (5,123) Income (loss) before income taxes (B) 36,242 21,727 (19,079) (14,892) 23,998 170,585 88,122 20,359 (63,844) 239,220 Income tax expense (benefit) 9,674 5,799 (4,724) — 10,749 — (15,546) (643) — (5,440) Net income (loss) $ 26,568 $ 15,928 $ (14,355) $ (14,892) $ 13,249 $ 170,585 $ 103,668 $ 21,002 $ (63,844) $ 244,660 Noncontrolling interests in income (loss) of consolidated subsidiaries $ 2,457 $ — $ 1,684 $ — $ 4,141 $ — $ — $ 10,597 $ — $ 14,738 Dividends on Preferred Stock $ — $ — $ — $ — $ — $ — $ — $ — $ 5,338 $ 5,338 Net income (loss) attributable to common stockholders $ 24,111 $ 15,928 $ (16,039) $ (14,892) $ 9,108 $ 170,585 $ 103,668 $ 10,405 $ (69,182) $ 224,584 Servicing and Origination Residential Securities and Loans Origination Servicing MSR Related Investments Elimination (A) Total Servicing and Origination Real Estate Securities Residential Mortgage Loans Consumer Loans Corporate Total Nine Months Ended September 30, 2019 Interest income $ 25,744 $ 23,181 $ 379,368 $ — $ 428,293 $ 557,895 $ 188,278 $ 128,575 $ — $ 1,303,041 Servicing revenue, net (1,215) 146,730 34,400 (46,549) 133,366 — — — — 133,366 Gain on originated mortgage loans, held-for-sale, net 228,881 681 37,169 (34,195) 232,536 — 62,399 — — 294,935 Total revenues 253,410 170,592 450,937 (80,744) 794,195 557,895 250,677 128,575 — 1,731,342 Interest expense 24,012 737 183,299 — 208,048 330,992 122,180 25,518 — 686,738 G&A and other 169,980 118,329 217,860 (46,549) 459,620 4,124 28,945 18,396 121,730 632,815 Total operating expenses 193,992 119,066 401,159 (46,549) 667,668 335,116 151,125 43,914 121,730 1,319,553 Other income (loss) 808 — (132,193) — (131,385) 31,677 118,244 (10,324) 4,515 12,727 Impairment — — — — — 21,942 (16,557) 24,599 — 29,984 Income (loss) before income taxes (B) 60,226 51,526 (82,415) (34,195) (4,858) 232,514 234,353 49,738 (117,215) 394,532 Income tax expense (benefit) 16,075 13,753 (21,354) — 8,474 — 11,048 (542) — 18,980 Net income (loss) $ 44,151 $ 37,773 $ (61,061) $ (34,195) $ (13,332) $ 232,514 $ 223,305 $ 50,280 $ (117,215) $ 375,552 Noncontrolling interests in income (loss) of consolidated subsidiaries $ 4,407 $ — $ 4,466 $ — $ 8,873 $ — $ — $ 23,106 $ — $ 31,979 Dividends on Preferred Stock $ — $ — $ — $ — $ — $ — $ — $ — $ 5,338 $ 5,338 Net income (loss) attributable to common stockholders $ 39,744 $ 37,773 $ (65,527) $ (34,195) $ (22,205) $ 232,514 $ 223,305 $ 27,174 $ (122,553) $ 338,235

INVESTMENTS IN EXCESS MORTGAGE

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS	9 Months Ended
	Sep. 30, 2020
Transfers and Servicing [Abstract]
INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS	INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS Excess mortgage servicing rights assets include New Residential’s direct investments in Excess MSRs and investments in joint ventures jointly controlled by New Residential and Fortress-managed funds investing in Excess MSRs. The table below summarizes the components of excess mortgage servicing rights assets as presented on the condensed consolidated balance sheets: September 30, 2020 December 31, 2019 Direct investments in Excess MSRs $ 328,623 $ 379,747 Excess MSR Joint Ventures 107,359 125,596 Excess mortgage servicing rights assets, at fair value $ 435,982 $ 505,343 Direct Investments in Excess MSRs The following table presents activity related to the carrying value of New Residential’s direct investments in Excess MSRs: Servicer Mr. Cooper SLS (A) Total Balance as of December 31, 2019 $ 377,692 $ 2,055 $ 379,747 Interest income 25,167 9 25,176 Other income (12,175) — (12,175) Proceeds from repayments (51,980) (311) (52,291) Proceeds from sales (61) — (61) Change in fair value (11,939) 166 (11,773) Balance as of September 30, 2020 $ 326,704 $ 1,919 $ 328,623 (A) Specialized Loan Servicing LLC (“SLS”). Mr. Cooper or SLS, as applicable, as servicer performs all of the servicing and advancing functions, and retains the ancillary income, servicing obligations and liabilities as the servicer of the underlying loans in the portfolio. New Residential has entered into a “recapture agreement” with respect to each of the direct Excess MSR investments serviced by Mr. Cooper and SLS. Under such arrangements, New Residential is generally entitled to a pro rata interest in the Excess MSRs on any refinancing by Mr. Cooper of a loan in the original portfolio. These recapture agreements do not apply to New Residential’s Servicer Advance Investments (Note 6). New Residential elected to record its direct investments in Excess 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 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, 2020 December 31, 2019 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 Mr. Cooper Agency Original and Recaptured Pools $ 37,356,300 32.5% - 66.7% (53.3%) 0.0% - 40% 20.0% - 35.0% 5.8 $ 150,403 $ 173,549 $ 209,633 Non-Agency (E) Mr. Cooper and SLS Serviced: Original and Recaptured Pools 39,995,269 33.3% - 100.0% (59.4%) 0.0% - 50% 0.0% - 33.3% 6.6 113,724 155,074 170,114 Total $ 77,351,569 6.1 $ 264,127 $ 328,623 $ 379,747 (A) 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 and recapture agreements, as applicable. (D) Amounts in parentheses represent weighted averages. (E) New Residential is also invested in related Servicer Advance Investments, including the basic fee component of the related MSR as of September 30, 2020 (Note 6) on $27.5 billion UPB underlying these Excess MSRs. Changes in fair value of investments is composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Original and Recaptured Pools $ (664) $ 2,407 $ (11,773) $ (1,421) As of September 30, 2020, a weighted average discount rate of 7.8% was used to value New Residential’s investments in Excess MSRs (directly and through equity method investees). Excess MSR Joint Ventures 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, 2020 December 31, 2019 Excess MSR assets $ 190,246 $ 226,843 Other assets 25,158 25,035 Other liabilities (687) (687) Equity $ 214,717 $ 251,191 New Residential’s investment $ 107,359 $ 125,596 New Residential’s ownership 50.0 % 50.0 % Three Months Ended Nine Months Ended 2020 2019 2020 2019 Interest income $ 12,249 $ 7,990 $ 20,099 $ 12,251 Other income (loss) (13,027) 1,528 (25,879) (4,029) Expenses (8) (16) (24) (48) Net income (loss) $ (786) $ 9,502 $ (5,804) $ 8,174 The following table summarizes the activity of New Residential’s investments in equity method investees: Balance at December 31, 2019 $ 125,596 Distributions of earnings from equity method investees (1,170) Distributions of capital from equity method investees (14,165) Change in fair value of investments in equity method investees (2,902) Balance at September 30, 2020 $ 107,359 The following is a summary of New Residential’s Excess MSR investments made through equity method investees: September 30, 2020 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 $ 30,232,940 66.7 % 50.0 % $ 146,014 $ 190,246 5.7 (A) The remaining interests are held by Mr. Cooper. (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 and recapture agreements, as applicable. (D) Represents the weighted average expected timing of the receipt of cash flows of each investment. Residential has legally purchased MSRs or the right to the economic interest in MSRs, New Residential has determined that the purchase agreement would not be treated as a sale under GAAP. Therefore, rather than recording an investment in MSRs, New Residential has recorded an investment in MSR financing receivables (“MSR Financing Receivables”). Income from these investments, net of subservicing fees, are recorded as Interest income with changes in fair value flowing through Change in fair value of investments in the condensed consolidated statements of income. A subsidiary of New Residential, New Residential Mortgage LLC (“NRM”), engages third party licensed mortgage servicers as subservicers and, in relation to certain MSR purchases, interim subservicers, to perform the operational servicing duties in connection with the MSRs it acquires, in exchange for a subservicing fee which is recorded as “Subservicing expense” in New Residential’s condensed consolidated statements of income. As of September 30, 2020, these subservicers include LoanCare, LLC (“LoanCare”), PHH Mortgage Corporation (“PHH”), Mr. Cooper, and Flagstar Bank, FSB (“Flagstar”), which subservice 19.1%, 18.5%, 17.1%, and 0.7% of the underlying UPB of the related mortgages, respectively (includes both Mortgage Servicing Rights and MSR Financing Receivables). The remaining 44.6% of the underlying UPB of the related mortgages is subserviced by the servicing division of NewRez. NRM has entered into recapture agreements with respect to each of its MSR investments. Under the recapture agreements, NRM is generally entitled to the MSRs on any initial or subsequent refinancing by an NRM subservicer or by NewRez. New Residential records its investments in MSRs and MSR Financing Receivables at fair value at acquisition and has elected to subsequently measure at fair value pursuant to the fair value measurement method. The following table presents activity related to the carrying value of New Residential’s investments in MSRs and MSR Financing Receivables: MSRs MSR Financing Receivables Total Balance as of December 31, 2019 $ 3,967,960 $ 1,718,273 $ 5,686,233 Purchases, net (A) 446,964 (18,227) 428,737 Transfers 320,613 (320,613) — Originations (B) 424,451 — 424,451 Proceeds from sales (10,452) (3,708) (14,160) Amortization of servicing rights (C) (959,482) (182,085) (1,141,567) Change in valuation inputs and assumptions (D) (542,361) (62,072) (604,433) (Gain) loss realized 4,112 (1,749) 2,363 Balance as of September 30, 2020 $ 3,651,805 $ 1,129,819 $ 4,781,624 (A) Net of purchase price adjustments and purchase price fully reimbursable from MSR sellers as a result of prepayment protection. (B) Represents MSRs retained on the sale of originated mortgage loans. (C) Based on the ratio of the current UPB of the underlying residential mortgage loans relative to the original UPB of the underlying residential mortgage loans. (D) Includes changes in inputs or assumptions used in the valuation model. Servicing revenue, net recognized by New Residential related to its investments in MSRs was composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Servicing fee revenue $ 320,880 $ 222,966 $ 945,568 $ 602,241 Ancillary and other fees 30,255 58,489 80,591 151,039 Servicing fee revenue and fees 351,135 281,455 1,026,159 753,280 Amortization of servicing rights (473,490) (168,776) (953,430) (346,772) Change in valuation inputs and assumptions (A) (B) 81,973 (61,858) (536,154) (275,371) (Gain) loss realized (3,547) 2,229 4,112 2,229 Servicing revenue, net $ (43,929) $ 53,050 $ (459,313) $ 133,366 (A) Includes changes in inputs or assumptions used in the valuation model. (B) Includes $(0.2) million and $(3.6) million for the three months ended September 30, 2020 and 2019, respectively, and $6.2 million and $4.4 million for the nine months ended September 30, 2020 and 2019, respectively, of fair value adjustment to excess spread financing. Interest income from investments in MSR Financing Receivables was composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Servicing fee revenue $ 83,493 $ 128,936 $ 303,936 $ 385,306 Ancillary and other fees 16,231 21,417 59,947 82,695 Less: subservicing expense (35,655) (40,410) (117,689) (145,649) Interest income, investments in MSR financing receivables $ 64,069 $ 109,943 $ 246,194 $ 322,352 Change in fair value of investments in MSR Financing Receivables was composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Amortization of servicing rights $ (36,134) $ (48,340) $ (182,085) $ (131,417) Change in valuation inputs and assumptions (A) 15,859 9,349 (62,072) 1,437 (Gain) loss on sales (B) — (2,419) (1,749) (3,220) Change in fair value of investments in MSR financing receivables $ (20,275) $ (41,410) $ (245,906) $ (133,200) (A) Includes changes in inputs or assumptions used in the valuation model and other changes due to the realization of expected cash flows. (B) Represents the realization of unrealized gain (loss) as a result of sales. The following is a summary of New Residential’s investments in MSRs and MSR Financing Receivables as of September 30, 2020: UPB of Underlying Mortgages Weighted Average Life (Years) (A) Carrying Value (B) MSRs: Agency (C) $ 323,473,921 5.4 $ 3,012,602 Non-Agency 5,605,074 4.5 16,598 Ginnie Mae (D) 57,290,646 4.3 622,605 386,369,641 5.2 3,651,805 MSR Financing Receivables: Agency (C) 6,159,819 5.6 57,410 Non-Agency 69,089,988 7.8 1,072,409 75,249,807 7.6 1,129,819 Total $ 461,619,448 5.6 $ 4,781,624 (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) Carrying value represents fair value. As of September 30, 2020, weighted average discount rates of 7.7% and 9.4% were used to value New Residential’s investments in MSRs and MSR financing receivables, respectively. (C) Represents Fannie Mae and Freddie Mac MSRs. (D) As of September 30, 2020, New Residential holds approximately $1,458.3 million in residential mortgage loans subject to repurchase and residential mortgage loans repurchase liability on its condensed consolidated balance sheets. Ginnie Mae Loans Subject to Repurchase Right NewRez, as an approved issuer of Ginnie Mae MBS, originates and securitizes government-insured residential mortgage loans. As the issuer of the Ginnie Mae-guaranteed securitizations, NewRez has the unilateral right to repurchase loans from the securitizations when they are delinquent for more than 90 days. Loans in forbearance that are three or more consecutive payments delinquent are included as delinquent loans permitted to be repurchased. Under GAAP, NewRez is required to recognize the right to loans on its balance sheet and establish a corresponding liability upon the triggering of the repurchase right regardless of whether NewRez intends to repurchase the loans. As of September 30, 2020, New Residential holds approximately $1,458.3 million in residential mortgage loans subject to repurchase and residential mortgage loans repurchase liability on its condensed consolidated balance sheets. New Residential may re-pool reacquired loans into new Ginnie Mae securitizations upon re-performance of the loan or otherwise sell to third-party investors. Upon recognizing loans eligible for repurchase, the Company does not change the accounting for MSRs related to previously sold loans. Upon reacquisition of a loan the MSR is written off. As of September 30, 2020, New Residential holds approximately $491.4 million of reacquired residential mortgage loans on its condensed consolidated balance sheets. Ocwen MSR Financing Receivable Transactions In July 2017, Ocwen Loan Servicing, LLC (collectively with certain affiliates, “Ocwen”) and New Residential entered into an agreement in which both parties agreed to undertake certain actions to facilitate the transfer from Ocwen to New Residential of Ocwen’s remaining interests in the mortgage servicing rights relating to loans with an aggregate unpaid principal balance of approximately $110.0 billion and with respect to which New Residential already held certain rights (“Rights to MSRs”). Ocwen and New Residential concurrently entered into a subservicing agreement pursuant to which Ocwen agreed to subservice the mortgage loans related to the MSRs that were transferred to New Residential. In January 2018, Ocwen sold and transferred to New Residential certain “Rights to MSRs” and other assets related to mortgage servicing rights for loans with an unpaid principal balance of approximately $86.8 billion. PHH (as successor by merger to Ocwen) will continue to service the mortgage loans related to the MSRs until any necessary third-party consents to transferring the MSRs are obtained and all other conditions to transferring the MSRs are satisfied, at which time PHH will transfer the MSRs to New Residential. As of September 30, 2020, MSRs representing approximately $66.7 billion UPB of underlying loans were transferred from PHH to NRM and NewRez. Although the MSRs transferred were legally sold, solely for accounting purposes, New Residential determined that substantially all of the risks and rewards inherent in owning the MSRs had not been transferred to NRM or NewRez, and that the purchase agreement would not be treated as a sale under GAAP. The table below summarizes the geographic distribution of the underlying residential mortgage loans of the investments in MSRs and MSR Financing Receivables: Percentage of Total Outstanding Unpaid Principal Amount State Concentration September 30, 2020 December 31, 2019 California 21.9 % 21.9 % Florida 7.3 % 6.9 % New York 6.7 % 6.4 % Texas 5.4 % 5.5 % New Jersey 4.8 % 4.9 % Illinois 3.5 % 3.6 % Massachusetts 3.3 % 3.4 % Georgia 3.2 % 3.1 % Maryland 3.1 % 3.0 % Washington 3.1 % 3.3 % Other U.S. 37.7 % 38.0 % 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 MSRs. Mortgage Subservicing NewRez performs servicing of residential mortgage loans for third parties under subservicing agreements. Mortgage subservicing does not meet the criteria to be recognized as a mortgage servicing right asset and, therefore, is not recognized on New Residential’s condensed consolidated balance sheets. The UPB of residential mortgage loans subserviced for others as of September 30, 2020 and 2019 was $77.1 billion and $54.7 billion, respectively. New Residential earned subservicing revenue of $138.6 million and $99.7 million for the nine months ended September 30, 2020 and 2019, respectively, related to subserviced UPB which is included within Servicing revenue, net in the condensed consolidated statements of income. Servicer Advances Receivable In connection with its investments in MSRs and MSR financing receivables, New Residential generally acquires any related outstanding servicer advances (not included in the purchase prices), which it records at fair value upon acquisition. In addition to receiving cash flows from the MSRs, NRM and NewRez, as servicers, have the obligation to fund future servicer advances on the underlying pool of mortgages (Note 15). These servicer advances are recorded when advanced and are included in Servicer advances receivable on the condensed consolidated balance sheets. The following types of advances are included in the Servicer advances receivable: September 30, 2020 December 31, 2019 Principal and interest advances $ 595,367 $ 660,807 Escrow advances (taxes and insurance advances) 2,171,877 2,427,384 Foreclosure advances 137,231 163,054 Total (A)(B)(C) $ 2,904,475 $ 3,251,245 (A) Includes $461.0 million and $562.2 million of servicer advances receivable related to Agency MSRs, respectively, recoverable either from the borrower or the Agencies. (B) Includes $113.1 million and $166.5 million of servicer advances receivable related to Ginnie Mae MSRs, respectively, recoverable from either the borrower or Ginnie Mae. Expected losses for advances associated with Ginnie Mae loans in the MSR portfolio are considered in the MSR fair valuation through a nonreimbursable advance loss assumption. (C) Excludes $47.4 million and $50.1 million, respectively, in unamortized advance discount and reserves, net of accruals for advance recoveries. These reserves relate to inactive loans in the foreclosure or liquidation process. New Residential’s Servicer advances receivable related to Non-Agency MSRs generally have the highest reimbursement priority pursuant to the underlying servicing agreements (i.e., “top of the waterfall”) and New Residential is generally entitled to repayment from respective loan or REO liquidation proceeds before any interest or principal is paid on the bonds that were issued by the trust. In the majority of cases, advances in excess of respective loan or REO liquidation proceeds may be recovered from pool-level proceeds. Furthermore, to the extent that advances are not recoverable by New Residential as a result of the subservicer’s failure to comply with applicable requirements in the relevant servicing agreements, New Residential has a contractual right to be reimbursed by the subservicer. New Residential assesses the recoverability of servicer advance receivables periodically and as of December 31, 2019, expected full recovery of the servicer advance receivables. For advances on loans that have been liquidated, sold, paid in full or modified, the Company has reserved $18.2 million for expected non-recovery of advances as of September 30, 2020. See Note 11 regarding the financing of MSRs.

INVESTMENTS IN MORTGAGE SERVICI

INVESTMENTS IN MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES	9 Months Ended
	Sep. 30, 2020
Transfers and Servicing of Financial Assets [Abstract]
INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS	INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS Excess mortgage servicing rights assets include New Residential’s direct investments in Excess MSRs and investments in joint ventures jointly controlled by New Residential and Fortress-managed funds investing in Excess MSRs. The table below summarizes the components of excess mortgage servicing rights assets as presented on the condensed consolidated balance sheets: September 30, 2020 December 31, 2019 Direct investments in Excess MSRs $ 328,623 $ 379,747 Excess MSR Joint Ventures 107,359 125,596 Excess mortgage servicing rights assets, at fair value $ 435,982 $ 505,343 Direct Investments in Excess MSRs The following table presents activity related to the carrying value of New Residential’s direct investments in Excess MSRs: Servicer Mr. Cooper SLS (A) Total Balance as of December 31, 2019 $ 377,692 $ 2,055 $ 379,747 Interest income 25,167 9 25,176 Other income (12,175) — (12,175) Proceeds from repayments (51,980) (311) (52,291) Proceeds from sales (61) — (61) Change in fair value (11,939) 166 (11,773) Balance as of September 30, 2020 $ 326,704 $ 1,919 $ 328,623 (A) Specialized Loan Servicing LLC (“SLS”). Mr. Cooper or SLS, as applicable, as servicer performs all of the servicing and advancing functions, and retains the ancillary income, servicing obligations and liabilities as the servicer of the underlying loans in the portfolio. New Residential has entered into a “recapture agreement” with respect to each of the direct Excess MSR investments serviced by Mr. Cooper and SLS. Under such arrangements, New Residential is generally entitled to a pro rata interest in the Excess MSRs on any refinancing by Mr. Cooper of a loan in the original portfolio. These recapture agreements do not apply to New Residential’s Servicer Advance Investments (Note 6). New Residential elected to record its direct investments in Excess 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 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, 2020 December 31, 2019 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 Mr. Cooper Agency Original and Recaptured Pools $ 37,356,300 32.5% - 66.7% (53.3%) 0.0% - 40% 20.0% - 35.0% 5.8 $ 150,403 $ 173,549 $ 209,633 Non-Agency (E) Mr. Cooper and SLS Serviced: Original and Recaptured Pools 39,995,269 33.3% - 100.0% (59.4%) 0.0% - 50% 0.0% - 33.3% 6.6 113,724 155,074 170,114 Total $ 77,351,569 6.1 $ 264,127 $ 328,623 $ 379,747 (A) 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 and recapture agreements, as applicable. (D) Amounts in parentheses represent weighted averages. (E) New Residential is also invested in related Servicer Advance Investments, including the basic fee component of the related MSR as of September 30, 2020 (Note 6) on $27.5 billion UPB underlying these Excess MSRs. Changes in fair value of investments is composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Original and Recaptured Pools $ (664) $ 2,407 $ (11,773) $ (1,421) As of September 30, 2020, a weighted average discount rate of 7.8% was used to value New Residential’s investments in Excess MSRs (directly and through equity method investees). Excess MSR Joint Ventures 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, 2020 December 31, 2019 Excess MSR assets $ 190,246 $ 226,843 Other assets 25,158 25,035 Other liabilities (687) (687) Equity $ 214,717 $ 251,191 New Residential’s investment $ 107,359 $ 125,596 New Residential’s ownership 50.0 % 50.0 % Three Months Ended Nine Months Ended 2020 2019 2020 2019 Interest income $ 12,249 $ 7,990 $ 20,099 $ 12,251 Other income (loss) (13,027) 1,528 (25,879) (4,029) Expenses (8) (16) (24) (48) Net income (loss) $ (786) $ 9,502 $ (5,804) $ 8,174 The following table summarizes the activity of New Residential’s investments in equity method investees: Balance at December 31, 2019 $ 125,596 Distributions of earnings from equity method investees (1,170) Distributions of capital from equity method investees (14,165) Change in fair value of investments in equity method investees (2,902) Balance at September 30, 2020 $ 107,359 The following is a summary of New Residential’s Excess MSR investments made through equity method investees: September 30, 2020 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 $ 30,232,940 66.7 % 50.0 % $ 146,014 $ 190,246 5.7 (A) The remaining interests are held by Mr. Cooper. (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 and recapture agreements, as applicable. (D) Represents the weighted average expected timing of the receipt of cash flows of each investment. Residential has legally purchased MSRs or the right to the economic interest in MSRs, New Residential has determined that the purchase agreement would not be treated as a sale under GAAP. Therefore, rather than recording an investment in MSRs, New Residential has recorded an investment in MSR financing receivables (“MSR Financing Receivables”). Income from these investments, net of subservicing fees, are recorded as Interest income with changes in fair value flowing through Change in fair value of investments in the condensed consolidated statements of income. A subsidiary of New Residential, New Residential Mortgage LLC (“NRM”), engages third party licensed mortgage servicers as subservicers and, in relation to certain MSR purchases, interim subservicers, to perform the operational servicing duties in connection with the MSRs it acquires, in exchange for a subservicing fee which is recorded as “Subservicing expense” in New Residential’s condensed consolidated statements of income. As of September 30, 2020, these subservicers include LoanCare, LLC (“LoanCare”), PHH Mortgage Corporation (“PHH”), Mr. Cooper, and Flagstar Bank, FSB (“Flagstar”), which subservice 19.1%, 18.5%, 17.1%, and 0.7% of the underlying UPB of the related mortgages, respectively (includes both Mortgage Servicing Rights and MSR Financing Receivables). The remaining 44.6% of the underlying UPB of the related mortgages is subserviced by the servicing division of NewRez. NRM has entered into recapture agreements with respect to each of its MSR investments. Under the recapture agreements, NRM is generally entitled to the MSRs on any initial or subsequent refinancing by an NRM subservicer or by NewRez. New Residential records its investments in MSRs and MSR Financing Receivables at fair value at acquisition and has elected to subsequently measure at fair value pursuant to the fair value measurement method. The following table presents activity related to the carrying value of New Residential’s investments in MSRs and MSR Financing Receivables: MSRs MSR Financing Receivables Total Balance as of December 31, 2019 $ 3,967,960 $ 1,718,273 $ 5,686,233 Purchases, net (A) 446,964 (18,227) 428,737 Transfers 320,613 (320,613) — Originations (B) 424,451 — 424,451 Proceeds from sales (10,452) (3,708) (14,160) Amortization of servicing rights (C) (959,482) (182,085) (1,141,567) Change in valuation inputs and assumptions (D) (542,361) (62,072) (604,433) (Gain) loss realized 4,112 (1,749) 2,363 Balance as of September 30, 2020 $ 3,651,805 $ 1,129,819 $ 4,781,624 (A) Net of purchase price adjustments and purchase price fully reimbursable from MSR sellers as a result of prepayment protection. (B) Represents MSRs retained on the sale of originated mortgage loans. (C) Based on the ratio of the current UPB of the underlying residential mortgage loans relative to the original UPB of the underlying residential mortgage loans. (D) Includes changes in inputs or assumptions used in the valuation model. Servicing revenue, net recognized by New Residential related to its investments in MSRs was composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Servicing fee revenue $ 320,880 $ 222,966 $ 945,568 $ 602,241 Ancillary and other fees 30,255 58,489 80,591 151,039 Servicing fee revenue and fees 351,135 281,455 1,026,159 753,280 Amortization of servicing rights (473,490) (168,776) (953,430) (346,772) Change in valuation inputs and assumptions (A) (B) 81,973 (61,858) (536,154) (275,371) (Gain) loss realized (3,547) 2,229 4,112 2,229 Servicing revenue, net $ (43,929) $ 53,050 $ (459,313) $ 133,366 (A) Includes changes in inputs or assumptions used in the valuation model. (B) Includes $(0.2) million and $(3.6) million for the three months ended September 30, 2020 and 2019, respectively, and $6.2 million and $4.4 million for the nine months ended September 30, 2020 and 2019, respectively, of fair value adjustment to excess spread financing. Interest income from investments in MSR Financing Receivables was composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Servicing fee revenue $ 83,493 $ 128,936 $ 303,936 $ 385,306 Ancillary and other fees 16,231 21,417 59,947 82,695 Less: subservicing expense (35,655) (40,410) (117,689) (145,649) Interest income, investments in MSR financing receivables $ 64,069 $ 109,943 $ 246,194 $ 322,352 Change in fair value of investments in MSR Financing Receivables was composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Amortization of servicing rights $ (36,134) $ (48,340) $ (182,085) $ (131,417) Change in valuation inputs and assumptions (A) 15,859 9,349 (62,072) 1,437 (Gain) loss on sales (B) — (2,419) (1,749) (3,220) Change in fair value of investments in MSR financing receivables $ (20,275) $ (41,410) $ (245,906) $ (133,200) (A) Includes changes in inputs or assumptions used in the valuation model and other changes due to the realization of expected cash flows. (B) Represents the realization of unrealized gain (loss) as a result of sales. The following is a summary of New Residential’s investments in MSRs and MSR Financing Receivables as of September 30, 2020: UPB of Underlying Mortgages Weighted Average Life (Years) (A) Carrying Value (B) MSRs: Agency (C) $ 323,473,921 5.4 $ 3,012,602 Non-Agency 5,605,074 4.5 16,598 Ginnie Mae (D) 57,290,646 4.3 622,605 386,369,641 5.2 3,651,805 MSR Financing Receivables: Agency (C) 6,159,819 5.6 57,410 Non-Agency 69,089,988 7.8 1,072,409 75,249,807 7.6 1,129,819 Total $ 461,619,448 5.6 $ 4,781,624 (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) Carrying value represents fair value. As of September 30, 2020, weighted average discount rates of 7.7% and 9.4% were used to value New Residential’s investments in MSRs and MSR financing receivables, respectively. (C) Represents Fannie Mae and Freddie Mac MSRs. (D) As of September 30, 2020, New Residential holds approximately $1,458.3 million in residential mortgage loans subject to repurchase and residential mortgage loans repurchase liability on its condensed consolidated balance sheets. Ginnie Mae Loans Subject to Repurchase Right NewRez, as an approved issuer of Ginnie Mae MBS, originates and securitizes government-insured residential mortgage loans. As the issuer of the Ginnie Mae-guaranteed securitizations, NewRez has the unilateral right to repurchase loans from the securitizations when they are delinquent for more than 90 days. Loans in forbearance that are three or more consecutive payments delinquent are included as delinquent loans permitted to be repurchased. Under GAAP, NewRez is required to recognize the right to loans on its balance sheet and establish a corresponding liability upon the triggering of the repurchase right regardless of whether NewRez intends to repurchase the loans. As of September 30, 2020, New Residential holds approximately $1,458.3 million in residential mortgage loans subject to repurchase and residential mortgage loans repurchase liability on its condensed consolidated balance sheets. New Residential may re-pool reacquired loans into new Ginnie Mae securitizations upon re-performance of the loan or otherwise sell to third-party investors. Upon recognizing loans eligible for repurchase, the Company does not change the accounting for MSRs related to previously sold loans. Upon reacquisition of a loan the MSR is written off. As of September 30, 2020, New Residential holds approximately $491.4 million of reacquired residential mortgage loans on its condensed consolidated balance sheets. Ocwen MSR Financing Receivable Transactions In July 2017, Ocwen Loan Servicing, LLC (collectively with certain affiliates, “Ocwen”) and New Residential entered into an agreement in which both parties agreed to undertake certain actions to facilitate the transfer from Ocwen to New Residential of Ocwen’s remaining interests in the mortgage servicing rights relating to loans with an aggregate unpaid principal balance of approximately $110.0 billion and with respect to which New Residential already held certain rights (“Rights to MSRs”). Ocwen and New Residential concurrently entered into a subservicing agreement pursuant to which Ocwen agreed to subservice the mortgage loans related to the MSRs that were transferred to New Residential. In January 2018, Ocwen sold and transferred to New Residential certain “Rights to MSRs” and other assets related to mortgage servicing rights for loans with an unpaid principal balance of approximately $86.8 billion. PHH (as successor by merger to Ocwen) will continue to service the mortgage loans related to the MSRs until any necessary third-party consents to transferring the MSRs are obtained and all other conditions to transferring the MSRs are satisfied, at which time PHH will transfer the MSRs to New Residential. As of September 30, 2020, MSRs representing approximately $66.7 billion UPB of underlying loans were transferred from PHH to NRM and NewRez. Although the MSRs transferred were legally sold, solely for accounting purposes, New Residential determined that substantially all of the risks and rewards inherent in owning the MSRs had not been transferred to NRM or NewRez, and that the purchase agreement would not be treated as a sale under GAAP. The table below summarizes the geographic distribution of the underlying residential mortgage loans of the investments in MSRs and MSR Financing Receivables: Percentage of Total Outstanding Unpaid Principal Amount State Concentration September 30, 2020 December 31, 2019 California 21.9 % 21.9 % Florida 7.3 % 6.9 % New York 6.7 % 6.4 % Texas 5.4 % 5.5 % New Jersey 4.8 % 4.9 % Illinois 3.5 % 3.6 % Massachusetts 3.3 % 3.4 % Georgia 3.2 % 3.1 % Maryland 3.1 % 3.0 % Washington 3.1 % 3.3 % Other U.S. 37.7 % 38.0 % 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 MSRs. Mortgage Subservicing NewRez performs servicing of residential mortgage loans for third parties under subservicing agreements. Mortgage subservicing does not meet the criteria to be recognized as a mortgage servicing right asset and, therefore, is not recognized on New Residential’s condensed consolidated balance sheets. The UPB of residential mortgage loans subserviced for others as of September 30, 2020 and 2019 was $77.1 billion and $54.7 billion, respectively. New Residential earned subservicing revenue of $138.6 million and $99.7 million for the nine months ended September 30, 2020 and 2019, respectively, related to subserviced UPB which is included within Servicing revenue, net in the condensed consolidated statements of income. Servicer Advances Receivable In connection with its investments in MSRs and MSR financing receivables, New Residential generally acquires any related outstanding servicer advances (not included in the purchase prices), which it records at fair value upon acquisition. In addition to receiving cash flows from the MSRs, NRM and NewRez, as servicers, have the obligation to fund future servicer advances on the underlying pool of mortgages (Note 15). These servicer advances are recorded when advanced and are included in Servicer advances receivable on the condensed consolidated balance sheets. The following types of advances are included in the Servicer advances receivable: September 30, 2020 December 31, 2019 Principal and interest advances $ 595,367 $ 660,807 Escrow advances (taxes and insurance advances) 2,171,877 2,427,384 Foreclosure advances 137,231 163,054 Total (A)(B)(C) $ 2,904,475 $ 3,251,245 (A) Includes $461.0 million and $562.2 million of servicer advances receivable related to Agency MSRs, respectively, recoverable either from the borrower or the Agencies. (B) Includes $113.1 million and $166.5 million of servicer advances receivable related to Ginnie Mae MSRs, respectively, recoverable from either the borrower or Ginnie Mae. Expected losses for advances associated with Ginnie Mae loans in the MSR portfolio are considered in the MSR fair valuation through a nonreimbursable advance loss assumption. (C) Excludes $47.4 million and $50.1 million, respectively, in unamortized advance discount and reserves, net of accruals for advance recoveries. These reserves relate to inactive loans in the foreclosure or liquidation process. New Residential’s Servicer advances receivable related to Non-Agency MSRs generally have the highest reimbursement priority pursuant to the underlying servicing agreements (i.e., “top of the waterfall”) and New Residential is generally entitled to repayment from respective loan or REO liquidation proceeds before any interest or principal is paid on the bonds that were issued by the trust. In the majority of cases, advances in excess of respective loan or REO liquidation proceeds may be recovered from pool-level proceeds. Furthermore, to the extent that advances are not recoverable by New Residential as a result of the subservicer’s failure to comply with applicable requirements in the relevant servicing agreements, New Residential has a contractual right to be reimbursed by the subservicer. New Residential assesses the recoverability of servicer advance receivables periodically and as of December 31, 2019, expected full recovery of the servicer advance receivables. For advances on loans that have been liquidated, sold, paid in full or modified, the Company has reserved $18.2 million for expected non-recovery of advances as of September 30, 2020. See Note 11 regarding the financing of MSRs.

SERVICER ADVANCE INVESTMENTS

SERVICER ADVANCE INVESTMENTS	9 Months Ended
	Sep. 30, 2020
Investments, All Other Investments [Abstract]
SERVICER ADVANCE INVESTMENTS	SERVICER ADVANCE INVESTMENTSAll of New Residential’s Servicer advance investments consist of outstanding servicer advances, the requirement to purchase all future servicer advances made with respect to a specified pool of residential mortgage loans, and the basic fee component of the related MSR. New Residential elected to record its Servicer advance investments, 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. A taxable wholly-owned subsidiary of New Residential is the managing member of Advance Purchaser LLC (the “Buyer”), a joint venture entity, and owned an approximately 73.2% interest in the Buyer as of September 30, 2020. The Buyer is a limited liability company which was established in December 2013 for the purpose of investing in residential mortgage related assets. As of September 30, 2020, 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 co-investors, including New Residential. As of September 30, 2020, the noncontrolling third-party co-investors and New Residential had previously funded their commitments; however, the Buyer may recall $328.4 million and $306.9 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 following is a summary of New Residential’s Servicer advance investments, 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, 2020 Servicer advance investments $ 510,995 $ 535,760 5.2 % 5.7 % 6.3 December 31, 2019 Servicer advance investments $ 557,444 $ 581,777 5.3 % 5.7 % 6.3 (A) Carrying value represents the fair value of the Servicer advance investments, 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. The following is additional information regarding the Servicer advance investments and related financing: UPB of Underlying Residential Mortgage Loans Outstanding Servicer Advances Servicer Advances to UPB of Underlying Residential Mortgage Loans Face Amount of Secured Notes and Bonds Payable Loan-to-Value (“LTV”) (A) Cost of Funds (C) Gross Net (B) Gross Net September 30, 2020 Servicer Advance Investments (D) $ 27,484,426 $ 434,998 1.6 % $ 412,538 88.0 % 87.0 % 2.3 % 1.5 % December 31, 2019 Servicer Advance Investments (D) $ 31,442,267 $ 462,843 1.5 % $ 443,248 88.3 % 87.2 % 3.4 % 2.8 % (A) Based on outstanding servicer advances, excluding purchased but unsettled servicer advances. (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 are included in the Servicer Advance Investments: September 30, 2020 December 31, 2019 Principal and interest advances $ 85,481 $ 71,574 Escrow advances (taxes and insurance advances) 166,678 180,047 Foreclosure advances 182,839 211,222 Total $ 434,998 $ 462,843 Interest income recognized by New Residential related to its Servicer advance investments was composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Interest income, gross of amounts attributable to servicer compensation $ 10,505 $ 14,212 $ 28,160 $ 43,220 Amounts attributable to base servicer compensation (703) (1,606) (2,325) (4,578) Amounts attributable to incentive servicer compensation 1,196 (7,273) (12,755) (20,780) Interest income from Servicer advance investments $ 10,998 $ 5,333 $ 13,080 $ 17,862

INVESTMENTS IN REAL ESTATE AND

INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES	INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES “Agency” residential mortgage backed securities (“RMBS”) are RMBS issued by a government sponsored enterprise, such as Fannie Mae or Freddie Mac. “Non-Agency” RMBS are issued by either public trusts or private label securitization entities. Effective January 1, 2020, New Residential elected to apply the fair value option for any new purchases of Non-Agency RMBS. Effective April 1, 2020, New Residential elected to apply the fair value option for any new purchases of Agency RMBS. The fair value option provides an election which allows a company to irrevocably elect fair value for certain financial assets and liabilities on an instrument-by-instrument basis at initial recognition. For RMBS of high credit quality accounted for under the fair value option, generally Agency RMBS, the Company recognizes interest income based on the stated coupon rate and the outstanding principal amount. The original purchase premium or discount is not amortized or accreted as part of interest income but rather reflected as part of the instrument’s fair value. For RMBS that are deemed not to be of high credit quality at the time of purchase, generally Non-Agency RMBS, interest income is recognized based on the security’s effective yield. For securities for which the fair value option was elected, any unrealized gains (losses) from the change in fair value are recorded in Change in fair value of investments in the condensed consolidated statements of income. For securities for which the fair value option was not elected, any unrealized gains (losses) from the change in fair value are recorded as a component of accumulated other comprehensive income in the condensed consolidated statement of changes in stockholders’ equity, to the extent impairment losses are considered non-credit related. Expected credit losses are reflected in the Provision (reversal) for credit losses in the condensed consolidated statements of income. The Company estimates expected credit losses using a discounted cash flow (“DCF”) approach. The DCF approach considers available relevant information about the collectability of cash flows, including information about past events, current conditions, and reasonable and supportable forecasts. The Company generates cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speeds, default rates, and loss severities. Realized gains (losses) on securities are recorded in Gain (loss) on settlement of investments, net in the condensed consolidated statements of income. Interest income is recognized over the life of the security using the effective interest method and is recorded on the accrual basis. Activities related to New Residential’s investments in real estate and other securities were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Agency Non-Agency Agency Non-Agency Agency Non-Agency Agency Non-Agency Purchases Face $ 6,300.0 $ — $ 12,306.4 $ 3,324.9 $ 17,162.6 $ 5,083.1 $ 25,123.5 $ 7,899.1 Purchase price 6,538.0 — 12,610.9 247.0 17,687.4 575.0 25,700.0 1,164.9 Sales Face $ 1,195.5 $ 716.6 $ 6,073.4 $ 1,325.2 $ 18,590.6 $ 8,204.4 $ 17,898.5 $ 2,162.7 Amortized cost 1,231.8 526.3 6,233.5 832.40 18,911.0 6,083.5 18,339.1 1,571.0 Sale price 1,251.5 514.6 6,252.8 910.90 19,120.5 5,139.2 18,451.4 1,662.9 Gain (loss) on sale 19.7 (11.6) 19.3 78.5 209.5 (944.3) 112.3 91.9 As of September 30, 2020, New Residential had sold and purchased $1.2 billion and $300.0 million face amount of Agency RMBS for $1.3 billion and $309.0 million, respectively, which had not yet been settled. As of September 30, 2019, New Residential had sold and purchased $4.3 billion and $2.5 billion face amount of Agency RMBS for $4.4 billion and $2.5 billion, respectively, which had not yet been settled. These unsettled sales and purchases were recorded on the condensed consolidated balance sheets on trade date as Trades receivable and Trades payable. There were no sales or purchases of Non-Agency RMBS which had not yet been settled as of September 30, 2020, or September 30, 2019. 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 Notes 8 and 16 for further details on these transactions. The following is a summary of New Residential’s real estate and other securities: September 30, 2020 December 31, 2019 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 $ 114,401 $ 115,223 $ 12,254 $ — $ 127,476 1 AAA 3.50 % 3.50 % 8.8 — $ 11,519,943 Agency RMBS at FVO 8,921,032 9,247,334 48,905 (2,891) 9,293,347 53 AAA 2.24 % 2.24 % 4.1 — — Total Agency RMBS (F)(G) 9,035,433 9,362,557 61,159 (2,891) 9,420,823 54 AAA 2.25 % 2.25 % 4.2 — 11,519,943 Non-Agency RMBS (H)(I) 21,276,175 1,386,243 92,192 (69,191) 1,409,244 599 AA 3.03 % 4.86 % 5.9 16.5 % 7,957,785 Total/ $ 30,311,608 $ 10,748,800 $ 153,351 $ (72,082) $ 10,830,067 653 AAA 2.80 % 4.09 % 5.4 $ 19,477,728 (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 305 bonds with a carrying value of $647.1 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 $26.5 million and $2.8 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 fair value option securities. (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 $9.0 billion for fixed rate securities as of September 30, 2020. (H) The total outstanding face amount was $13.0 billion (including $11.9 billion of residual and fair value option notional amount) for fixed rate securities and $8.3 billion (including $7.7 billion of residual and fair value option notional amount) for floating rate securities as of September 30, 2020. (I) Includes other asset-backed securities (“ABS”) consisting primarily of (i) interest-only securities and servicing strips (fair value option securities) which New Residential elected to carry at fair value and record changes to valuation through the income statement, (ii) bonds backed by consumer loans, and (iii) corporate debt. 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 Corporate debt $ 500 $ 500 $ 10 $ — $ 510 1 B- 8.25 % 8.25 % 4.5 N/A Consumer loan bonds 13,847 11,069 — — 11,069 6 N/A N/A N/A — N/A Fair value option securities: Interest-only securities 10,506,022 272,207 17,641 (33,893) 255,954 126 AA+ 1.16 % 7.80 % 2.7 N/A Servicing strips 5,418,547 55,861 4,314 (9,009) 51,167 59 N/A 0.61 % 7.60 % 3.8 N/A Unrealized losses attributable to credit impairment are recognized in earnings. During the nine months ended September 30, 2020, New Residential recorded credit impairment charges of $15.2 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, 2020. Securities in an Unrealized Loss Position Outstanding Face Amount Amortized Cost Basis Gross Unrealized Losses Carrying Value Number of Securities Weighted Average Before Credit Impairment Credit Impairment (A) After Credit Impairment Rating Coupon Yield Life Less than 12 Months $ 10,511,509 $ 3,144,203 $ (2,072) $ 3,142,131 $ (51,194) $ 3,090,937 112 AAA 2.30 % 2.05 % 6.1 12 or More Months 3,758,699 112,034 (8,297) 103,737 (20,889) 82,848 70 AA+ 0.89 % 2.59 % 2.4 Total/Weighted Average $ 14,270,208 $ 3,256,237 $ (10,369) $ 3,245,868 $ (72,083) $ 3,173,785 182 AAA 2.26 % 2.07 % 6.0 (A) Represents credit impairment on securities in an unrealized loss position as of September 30, 2020. New Residential performed an assessment of all 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 credit impairment, exceeds its fair value) and determined the following: September 30, 2020 December 31, 2019 Gross Unrealized Losses Gross Unrealized Losses Fair Value Amortized Cost Basis After Credit Impairment Credit (A) Non-Credit (B) Fair Value Amortized Cost Basis After Credit Impairment Credit (A) Non-Credit (B) Securities New Residential intends to sell $ — $ — $ — N/A $ — $ — $ — $ — Securities New Residential is more likely than not to be required to sell (C) — — — N/A — — — 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 122,086 134,639 (10,369) (12,553) 228,228 237,626 (3,232) (9,398) Non-credit impaired securities 3,051,699 3,111,229 — (59,530) 4,726,409 4,767,837 — (41,428) Total debt securities in an unrealized loss position $ 3,173,785 $ 3,245,868 $ (10,369) $ (72,083) $ 4,954,637 $ 5,005,463 $ (3,232) $ (50,826) (A) This amount is required to be recorded through earnings. In measuring the portion of credit losses, New Residential estimates the expected cash flow for each of the securities. This evaluation included 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 included New Residential’s expectations of prepayment rates, default rates and loss severities. Credit losses were measured as the decline in the present value of the expected future cash flows discounted at the security’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) 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 the allowance for credit losses on debt securities (excluding credit impairment relating to securities New Residential intends to sell or is more likely than not required to sell): Purchased Credit Deteriorated Non-Purchased Credit Deteriorated Total Allowance for credit losses on available-for-sale debt securities at December 31, 2019 $ — $ — $ — Additions to the allowance for credit losses on securities for which credit losses were not previously recorded — — — Additions to the allowance for credit losses arising from purchases of available-for-sale debt securities accounted for as purchased financial assets with credit deterioration — — — Reductions for securities sold during the period — — — Reductions in the allowance for credit losses 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 — — — Additional increases (decreases) to the allowance for credit losses on securities that had credit losses or an allowance recorded in a previous period 10,359 10 10,369 Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Allowance for credit losses on available-for-sale debt securities at September 30, 2020 $ 10,359 $ 10 $ 10,369 The table below summarizes the geographic distribution of the collateral securing New Residential’s Non-Agency RMBS: September 30, 2020 December 31, 2019 Geographic Location (A) Outstanding Face Amount Percentage of Total Outstanding Outstanding Face Amount Percentage of Total Outstanding Western U.S. $ 7,347,342 34.6 % $ 9,048,847 36.6 % Southeastern U.S. 5,543,854 26.1 % 5,983,966 24.2 % Northeastern U.S. 4,876,703 22.9 % 5,416,137 21.9 % Midwestern U.S. 2,354,349 11.1 % 2,562,269 10.4 % Southwestern U.S. 1,130,535 5.3 % 1,440,467 5.8 % Other (B) 8,995 — % 296,273 1.1 % $ 21,261,778 100.0 % $ 24,747,959 100.0 % (A) Excludes $13.8 million and $25.0 million face amount of bonds backed by consumer loans and $0.5 million and $85.0 million face amount of bonds backed by corporate debt as of September 30, 2020 and December 31, 2019, respectively. (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. 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 fair value option securities: Outstanding Face Amount Carrying Value September 30, 2020 $ 967,463 $ 406,816 December 31, 2019 5,701,736 3,830,369 The following is a summary of the changes in accretable yield for these securities: Nine Months Ended September 30, 2020 Balance at December 31, 2019 $ 1,882,476 Additions 76,959 Accretion (51,840) Reclassifications from (to) non-accretable difference (2,858,719) Disposals 1,317,537 Balance at September 30, 2020 $ 366,413

INVESTMENTS IN RESIDENTIAL MORT

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS	9 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS	INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS New Residential accumulated its residential mortgage loan portfolio through various bulk acquisitions and the execution of call rights. New Residential, through its wholly-owned subsidiary, NewRez, originates residential mortgage loans for sale and securitization to third parties and generally retains the servicing rights on the underlying loans. Upon adoption of ASU 2016-13 The election of the fair value option resulted in the Company recognizing an adjustment of $6.0 million to reduce retained earnings attributable to the change in the fair value of residential mortgage loans. Unrealized gains (losses) from the change in fair value of residential mortgage loans are recognized in Change in fair value of investments in the condensed consolidated statements of income. Realized gains (losses) are recorded in Gain (loss) on settlement of investments, net in the condensed consolidated statements of income. Residential mortgage loans for which the fair value option has been elected are not evaluated for credit impairment as changes in fair value are recorded in the condensed consolidated statements of income. 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. As of September 30, 2020, New Residential accounts for loans based on the following categories: • Loans held-for-investment, at fair value • Loans held-for-sale, at lower of cost or fair value • Loans held-for-sale, at fair value The following table presents certain information regarding New Residential’s residential mortgage loans outstanding by loan type: September 30, 2020 December 31, 2019 Outstanding Face Amount Carrying Loan Weighted Average Yield Weighted Average Life (Years) (A) Carrying Value Loan Type Total residential mortgage loans, held-for-investment, at fair value (B) $ 784,838 $ 718,802 12,587 6.7 % 4.2 $ 925,706 Acquired reverse mortgage loans (C) $ 11,784 $ 5,848 28 7.8 % 3.9 $ 5,844 Acquired performing loans (D)(F) 205,746 191,580 4,138 6.6 % 3.4 857,821 Acquired non-performing loans (E)(F) 502,003 380,925 3,363 7.5 % 3.3 565,387 Total residential mortgage loans, held-for-sale $ 719,533 $ 578,353 7,529 7.2 % 3.3 $ 1,429,052 Acquired performing loans (D)(F) $ 1,205,668 $ 1,176,302 7,590 4.2 % 9.9 $ 3,024,288 Acquired non-performing loans 436,936 338,451 2,872 7.5 % 3.3 — Originated loans 2,705,121 2,843,720 9,947 2.9 % 22.1 1,589,324 Total residential mortgage loans, held-for-sale, at fair value $ 4,347,725 $ 4,358,473 20,409 3.7 % 16.8 $ 4,613,612 Total residential mortgage loans, held-for-sale $ 5,067,258 $ 4,936,826 $ 6,042,664 (A) The weighted average life is based on the expected timing of the receipt of cash flows. (B) Residential mortgage loans, held-for-investment, at fair value is grouped and presented as part of Residential loans and variable interest entity consumer loans held-for-investment, at fair value on the condensed consolidated balance sheets. (C) Represents a 70% participation interest that New Residential holds in a portfolio of reverse mortgage loans. Mr. Cooper holds the other 30% interest and services the loans. The average loan balance outstanding based on total UPB was $0.6 million. Approximately 47% 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. (D) Performing loans are generally placed on nonaccrual status when principal or interest is 120 days or more past due. (E) As of September 30, 2020, New Residential has placed Non-Performing Loans, held-for-sale on nonaccrual status, except as described in (F) below. (F) Includes $490.9 million and $21.2 million UPB of Ginnie Mae EBO performing and non-performing loans, respectively, on accrual status as 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 underlying residential mortgage loans: Percentage of Total Outstanding Unpaid Principal Amount State Concentration September 30, 2020 December 31, 2019 California 13.8 % 16.1 % New York 8.9 % 9.0 % Texas 8.0 % 7.1 % Florida 7.8 % 8.4 % Georgia 5.5 % 4.8 % New Jersey 5.1 % 4.2 % Illinois 3.5 % 3.6 % Pennsylvania 3.2 % 2.9 % Maryland 3.2 % 3.3 % Massachusetts 3.1 % 3.3 % Other U.S. 37.9 % 37.3 % 100.0 % 100.0 % See Note 11 regarding the financing of residential mortgage loans and related assets. The following table summarizes the difference between the aggregate unpaid principal balance and the aggregate fair value of loans as of September 30, 2020: Days Past Due Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Balance 90 to 119 $ 157,247 $ 142,438 $ (14,808) 120+ 1,104,658 931,980 (172,678) $ 1,261,905 $ 1,074,418 $ (187,486) Call Rights New Residential has executed calls with respect to 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. For the nine months ended September 30, 2020, New Residential executed calls on a total of 15 trusts and recognized $12.0 million of interest income on securities held in the collapsed trusts and $48.3 million of gain on securitizations accounted for as sales. For the nine months ended September 30, 2019, New Residential executed calls on a total of 97 trusts and recognized $45.3 million of interest income on securities held in the collapsed trusts and $54.2 million of gain on securitizations accounted for as sales. Refer to Note 16 for transactions with affiliates. The following table provides past due information regarding New Residential’s Performing Loans, which is an important indicator of credit quality and the establishment of the allowance for credit losses: December 31, 2019 Days Past Due Delinquency Status (A) Current 86.5 % 30-59 7.0 % 60-89 2.7 % 90-119 (B) 0.7 % 120+ (C) 3.1 % 100.0 % (A) Represents the percentage of the total principal balance that corresponds to loans that are in each delinquency status. (B) Includes loans 90-119 days past due and still accruing interest because they are generally placed on nonaccrual status at 120 days or more past due. (C) Represents nonaccrual loans. The following table summarizes the activity for residential mortgage loans: Loans Held-for-Investment, at Fair Value Loans Held-for-Sale, at Lower Cost or Fair Value Loans Held-for-Sale, at Fair Value Total Balance at December 31, 2019 $ 925,706 $ 1,429,052 $ 4,613,612 $ 6,968,370 Fair value adjustment due to fair value option (6,020) — — (6,020) Originations — — 37,361,429 37,361,429 Sales — (733,087) (39,713,858) (40,446,945) Purchases/additional fundings — 110,741 2,279,757 2,390,498 Proceeds from repayments (105,032) (86,798) (140,657) (332,487) Transfer of loans to other assets (A) — (3,338) (20,372) (23,710) Transfer of loans to real estate owned (5,328) (17,085) (4,674) (27,087) Transfers of loans to held for sale (62,274) — 62,274 — Valuation provision on loans — (121,132) — (121,132) Changes in instrument-specific credit risk 18,808 — (31,488) (12,680) Other factors (47,058) — (47,550) (94,608) Balance at September 30, 2020 $ 718,802 $ 578,353 $ 4,358,473 $ 5,655,628 (A) Represents loans for which foreclosure has been completed and for which New Residential has made, or intends to make, a claim with the governmental agency that has guaranteed the loans that are recognized as claims receivable in Other Assets (Note 2). Net interest income Three Months Ended Nine Months Ended 2020 2019 2020 2019 Interest income: Loans held-for-investment, at fair value $ 12,647 $ 14,532 $ 40,985 $ 47,167 Loans held-for-sale, at lower of cost or fair value 7,406 15,426 38,673 43,538 Loans held-for-sale, at fair value 31,267 56,644 104,565 130,128 Total interest income 51,320 86,602 184,223 220,833 Interest expense: Loans held-for-investment, at fair value 5,326 3,953 15,934 15,717 Loans held-for-sale, at lower of cost or fair value 4,068 9,315 17,501 26,553 Loans held-for-sale, at fair value 20,909 43,295 64,206 109,770 Total interest expense 30,303 56,563 97,641 152,040 Net interest income $ 21,017 $ 30,039 $ 86,582 $ 68,793 Gain on originated mortgage loans, held-for-sale, net NewRez, a wholly-owned subsidiary of New Residential, originates conventional, government-insured and nonconforming residential mortgage loans for sale and securitization. The GSEs or Ginnie Mae guarantee conventional and government-insured mortgage securitizations and mortgage investors issue nonconforming private label mortgage securitizations while NewRez generally retains the right to service the underlying residential mortgage loans. In connection with the transfer of loans to the GSEs or mortgage investors, New Residential reports gain on originated mortgage loans, held-for-sale, net in the condensed consolidated statements of income. Gain on originated mortgage loans, held-for-sale, net is summarized below: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Gain on loans originated and sold, net (A) $ 244,224 $ 45,923 $ 520,094 $ 98,812 Gain (loss) on settlement of mortgage loan origination derivative instruments (B) (68,789) (32,138) (290,670) (61,879) MSRs retained on transfer of loans (C) 156,353 96,317 424,451 190,666 Other (D) 19,306 12,050 51,896 28,829 Realized gain on sale of originated mortgage loans, net $ 351,094 $ 122,152 $ 705,771 $ 256,428 Change in fair value of loans 67,998 (12,524) 96,375 15,458 Change in fair value of interest rate lock commitments (Note 10) 82,019 3,002 206,073 13,911 Change in fair value of derivative instruments (Note 10) (6,013) 14,117 (23,401) 9,138 Gain on originated mortgage loans, held-for-sale, net $ 495,098 $ 126,747 $ 984,818 $ 294,935 (A) Includes loan origination fees of $566.3 million and $953.1 million for the three and nine months ended September 30, 2020, respectively, $103.5 million and $189.4 million for the three and nine months ended September 30, 2019, respectively. (B) Represents settlement of forward securities delivery commitments utilized as an economic hedge for mortgage loans not included within forward loan sale commitments. (C) Represents the initial fair value of the capitalized mortgage servicing rights upon loan sales with servicing retained. (D) Includes fees for services associated with the loan origination process.
INVESTMENTS IN CONSUMER LOANS	INVESTMENTS IN CONSUMER LOANS New Residential, through limited liability companies (together, the “Consumer Loan Companies”), has a co-investment in a portfolio of consumer loans. The portfolio includes personal unsecured loans and personal homeowner loans. OneMain is the servicer of the loans and provides all servicing and advancing functions for the portfolio. As of September 30, 2020, New Residential owns 53.5% of the limited liability company interests in, and consolidates, the Consumer Loan Companies. New Residential also purchased certain newly originated consumer loans from a third party (“Consumer Loan Seller”). These loans are not held in the Consumer Loan Companies and have been designated as performing consumer loans, held-for-investment and are grouped and presented as part of residential loans and variable interest entity consumer loans held-for-investment, at fair value on the condensed consolidated balance sheets. In addition, see “Equity Method Investees” below. The following table summarizes the investment in consumer loans, held-for-investment held by New Residential: Unpaid Principal Balance Interest in Consumer Loans Carrying Value Weighted Average Coupon Weighted Average Expected Life (Years) (A) Weighted Average Delinquency (B) September 30, 2020 Consumer Loan Companies Performing Loans $ 525,664 53.5 % $ 582,167 18.2 % 3.7 3.4 % Purchased Credit Deteriorated Loans (C) 137,450 53.5 % 136,188 14.2 % 3.5 6.2 % Other - Performing Loans 4,070 100.0 % 3,753 15.3 % 0.5 3.6 % Total Consumer Loans, held-for-investment $ 667,184 $ 722,108 17.4 % 3.6 4.0 % December 31, 2019 Consumer Loan Companies Performing Loans $ 644,676 53.5 % $ 682,310 18.8 % 4.0 4.7 % Purchased Credit Deteriorated Loans (C) 170,083 53.5 % 136,633 15.5 % 3.7 10.1 % Other - Performing Loans 9,158 100.0 % 8,602 15.1 % 0.7 6.1 % Total Consumer Loans, held-for-investment $ 823,917 $ 827,545 18.0 % 3.9 5.9 % (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) 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. (C) 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. See Note 11 regarding the financing of consumer loans. Upon adoption of ASU 2016-13 The election of the fair value option resulted in the Company recognizing an adjustment of $19.7 million to reduce retained earnings attributable to the change in the fair value of consumer loans, net of noncontrolling interests. Unrealized gains (losses) from the change in fair value of consumer loans are recognized in Change in fair value of investments in the condensed consolidated statements of income. Realized gains (losses) are recorded in Gain on settlement of investments, net in the condensed consolidated statements of income. See Note 2. Consumer loans for which the fair value option has been elected are not evaluated for credit impairment as changes in fair value are recorded in the condensed consolidated statements of income. Interest income is recognized over the life of the loan using the effective interest method and is recorded on the accrual basis. The following table summarizes the past due status and difference between the aggregate unpaid principal balance and the aggregate fair value of consumer loans as of September 30, 2020: Days Past Due Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Balance Under 90 Days $ 656,284 $ 710,367 $ 54,083 90 days or more past due 10,900 11,741 841 Total $ 667,184 $ 722,108 $ 54,924 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: December 31, 2019 Days Past Due Delinquency Status (A) Current 95.3 % 30-59 1.8 % 60-89 1.2 % 90-119 (B) 0.7 % 120+ (B) (C) 1.0 % 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 fair value of consumer loans, held-for-investment were as follows: Balance at December 31, 2019 $ 827,545 Fair value adjustment due to fair value option 36,472 Additional fundings (A) 25,008 Proceeds from repayments (176,127) Accretion of loan discount and premium amortization, net 18,844 Fair value adjustment due to: Changes in instrument-specific credit risk (429) Other factors (9,205) Balance at September 30, 2020 $ 722,108 (A) Represents draws on consumer loans with revolving privileges. Equity Method Investees In February 2017, New Residential completed a co-investment, through a newly formed entity, PF LoanCo Funding LLC (“LoanCo”), to purchase up to $5.0 billion worth of newly originated consumer loans from Consumer Loan Seller over a two could exercise significant influence over LoanCo but the requirements for consolidation are not met. As of December 31, 2019, LoanCo had distributed all net assets to New Residential. Additionally, New Residential and the LoanCo co-investors agreed to purchase warrants to purchase up to 177.7 million shares of Series F convertible preferred stock in the Consumer Loan Seller’s parent company (“ParentCo”). The holder of the warrants has the option to purchase an equivalent number of shares of Series F convertible preferred stock in ParentCo at a price of $0.01 per share. The Series F convertible preferred stock holders have the right to convert such preferred stock to common stock at any time, are entitled to the number of votes equal to the number of shares of common stock into which such shares of convertible preferred stock could be converted, and will have liquidation rights in the event of liquidation. As of September 30, 2020 and December 31, 2019, the warrants are held on New Residential’s condensed consolidated balance sheets in Other Assets and carried at $22.8 million and $28.0 million, respectively. The following table summarizes the income earned from the Company’s investments in LoanCo and WarrantCo during 2019: Three Months Ended September 30, 2019 (A) Nine Months Ended September 30, 2019 (A) Interest income $ 636 $ 20,003 Interest expense — (6,487) Change in fair value of consumer loans and warrants (2,933) (4,390) Gain on sale of consumer loans (7,525) (9,193) Other expenses (576) (3,494) Net income $ (10,398) $ (3,561) New Residential’s equity in net income $ (2,547) $ (890) New Residential’s ownership 24.5 % 25.0 % (A) Data for the period ended August 31, 2019 as a result of the one month reporting lag. The following is a summary of LoanCo’s consumer loan investments at September 30, 2019: Unpaid Principal Balance Interest in Consumer Loans Carrying Value Weighted Average Coupon Weighted Average Expected Life (Years) (A) Weighted Average Delinquency (B) September 30, 2019 (C) $ 1,226 25.0 % $ 1,632 18.7 % 1.0 — % (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) 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. (C) Data as of August 31, 2019 as a result of the one month reporting lag.

INVESTMENTS IN CONSUMER LOANS

INVESTMENTS IN CONSUMER LOANS	9 Months Ended
	Sep. 30, 2020
Investments In Consumer Loans Equity Method Investees [Abstract]
INVESTMENTS IN CONSUMER LOANS	INVESTMENTS IN CONSUMER LOANS New Residential, through limited liability companies (together, the “Consumer Loan Companies”), has a co-investment in a portfolio of consumer loans. The portfolio includes personal unsecured loans and personal homeowner loans. OneMain is the servicer of the loans and provides all servicing and advancing functions for the portfolio. As of September 30, 2020, New Residential owns 53.5% of the limited liability company interests in, and consolidates, the Consumer Loan Companies. New Residential also purchased certain newly originated consumer loans from a third party (“Consumer Loan Seller”). These loans are not held in the Consumer Loan Companies and have been designated as performing consumer loans, held-for-investment and are grouped and presented as part of residential loans and variable interest entity consumer loans held-for-investment, at fair value on the condensed consolidated balance sheets. In addition, see “Equity Method Investees” below. The following table summarizes the investment in consumer loans, held-for-investment held by New Residential: Unpaid Principal Balance Interest in Consumer Loans Carrying Value Weighted Average Coupon Weighted Average Expected Life (Years) (A) Weighted Average Delinquency (B) September 30, 2020 Consumer Loan Companies Performing Loans $ 525,664 53.5 % $ 582,167 18.2 % 3.7 3.4 % Purchased Credit Deteriorated Loans (C) 137,450 53.5 % 136,188 14.2 % 3.5 6.2 % Other - Performing Loans 4,070 100.0 % 3,753 15.3 % 0.5 3.6 % Total Consumer Loans, held-for-investment $ 667,184 $ 722,108 17.4 % 3.6 4.0 % December 31, 2019 Consumer Loan Companies Performing Loans $ 644,676 53.5 % $ 682,310 18.8 % 4.0 4.7 % Purchased Credit Deteriorated Loans (C) 170,083 53.5 % 136,633 15.5 % 3.7 10.1 % Other - Performing Loans 9,158 100.0 % 8,602 15.1 % 0.7 6.1 % Total Consumer Loans, held-for-investment $ 823,917 $ 827,545 18.0 % 3.9 5.9 % (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) 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. (C) 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. See Note 11 regarding the financing of consumer loans. Upon adoption of ASU 2016-13 The election of the fair value option resulted in the Company recognizing an adjustment of $19.7 million to reduce retained earnings attributable to the change in the fair value of consumer loans, net of noncontrolling interests. Unrealized gains (losses) from the change in fair value of consumer loans are recognized in Change in fair value of investments in the condensed consolidated statements of income. Realized gains (losses) are recorded in Gain on settlement of investments, net in the condensed consolidated statements of income. See Note 2. Consumer loans for which the fair value option has been elected are not evaluated for credit impairment as changes in fair value are recorded in the condensed consolidated statements of income. Interest income is recognized over the life of the loan using the effective interest method and is recorded on the accrual basis. The following table summarizes the past due status and difference between the aggregate unpaid principal balance and the aggregate fair value of consumer loans as of September 30, 2020: Days Past Due Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Balance Under 90 Days $ 656,284 $ 710,367 $ 54,083 90 days or more past due 10,900 11,741 841 Total $ 667,184 $ 722,108 $ 54,924 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: December 31, 2019 Days Past Due Delinquency Status (A) Current 95.3 % 30-59 1.8 % 60-89 1.2 % 90-119 (B) 0.7 % 120+ (B) (C) 1.0 % 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 fair value of consumer loans, held-for-investment were as follows: Balance at December 31, 2019 $ 827,545 Fair value adjustment due to fair value option 36,472 Additional fundings (A) 25,008 Proceeds from repayments (176,127) Accretion of loan discount and premium amortization, net 18,844 Fair value adjustment due to: Changes in instrument-specific credit risk (429) Other factors (9,205) Balance at September 30, 2020 $ 722,108 (A) Represents draws on consumer loans with revolving privileges. Equity Method Investees In February 2017, New Residential completed a co-investment, through a newly formed entity, PF LoanCo Funding LLC (“LoanCo”), to purchase up to $5.0 billion worth of newly originated consumer loans from Consumer Loan Seller over a two could exercise significant influence over LoanCo but the requirements for consolidation are not met. As of December 31, 2019, LoanCo had distributed all net assets to New Residential. Additionally, New Residential and the LoanCo co-investors agreed to purchase warrants to purchase up to 177.7 million shares of Series F convertible preferred stock in the Consumer Loan Seller’s parent company (“ParentCo”). The holder of the warrants has the option to purchase an equivalent number of shares of Series F convertible preferred stock in ParentCo at a price of $0.01 per share. The Series F convertible preferred stock holders have the right to convert such preferred stock to common stock at any time, are entitled to the number of votes equal to the number of shares of common stock into which such shares of convertible preferred stock could be converted, and will have liquidation rights in the event of liquidation. As of September 30, 2020 and December 31, 2019, the warrants are held on New Residential’s condensed consolidated balance sheets in Other Assets and carried at $22.8 million and $28.0 million, respectively. The following table summarizes the income earned from the Company’s investments in LoanCo and WarrantCo during 2019: Three Months Ended September 30, 2019 (A) Nine Months Ended September 30, 2019 (A) Interest income $ 636 $ 20,003 Interest expense — (6,487) Change in fair value of consumer loans and warrants (2,933) (4,390) Gain on sale of consumer loans (7,525) (9,193) Other expenses (576) (3,494) Net income $ (10,398) $ (3,561) New Residential’s equity in net income $ (2,547) $ (890) New Residential’s ownership 24.5 % 25.0 % (A) Data for the period ended August 31, 2019 as a result of the one month reporting lag. The following is a summary of LoanCo’s consumer loan investments at September 30, 2019: Unpaid Principal Balance Interest in Consumer Loans Carrying Value Weighted Average Coupon Weighted Average Expected Life (Years) (A) Weighted Average Delinquency (B) September 30, 2019 (C) $ 1,226 25.0 % $ 1,632 18.7 % 1.0 — % (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) 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. (C) Data as of August 31, 2019 as a result of the one month reporting lag.

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES New Residential uses interest rate swaps and interest rate caps as 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. New Residential may at times hold to-be-announced forward contract positions (“TBAs”) in order to mitigate New Residential’s interest rate risk on certain specified mortgage backed securities and any amounts or obligations owed by or to New Residential are subject to the right of set-off with the TBA counterparty. As part of executing these trades, New Residential may enter 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. As of September 30, 2020, New Residential also held interest rate lock commitments (“IRLCs”), which represent a commitment to a particular interest rate provided the borrower is able to close the loan within a specified period, and forward loan sale and securities delivery commitments, which represent a commitment to sell specific mortgage loans at prices which are fixed as of the forward commitment date. New Residential enters into forward loan sale and securities delivery commitments in order to hedge the exposure related to IRLCs and mortgage loans that are not covered by mortgage loan sale commitments. New Residential’s derivatives are recorded at fair value on the condensed consolidated balance sheets as follows: Balance Sheet Location September 30, 2020 December 31, 2019 Derivative assets Interest rate swaps (A) Other assets $ — $ 155 Interest rate lock commitments Other assets 246,247 41,346 TBAs Other assets 9,249 — $ 255,496 $ 41,501 Derivative liabilities Interest rate swaps (A) Accrued expenses and other liabilities $ 263 $ — Interest rate lock commitments Accrued expenses and other liabilities 283 1,455 Forward loan sale commitments Accrued expenses and other liabilities — 27 TBAs Accrued expenses and other liabilities 37,274 5,403 $ 37,820 $ 6,885 (A) Net of $206.3 million and $171.8 million of related variation margin accounts as of September 30, 2020 and December 31, 2019, respectively. The following table summarizes notional amounts related to derivatives: September 30, 2020 December 31, 2019 Interest rate caps (A) $ 12,500 $ 12,500 Interest rate swaps (B) 9,070,000 4,900,000 Interest rate lock commitments 12,412,095 4,043,935 Forward loan sale commitments — 43,654 TBAs, short position (C) 15,254,283 5,048,000 TBAs, long position (C) — 11,692,212 (A) As of September 30, 2020, caps LIBOR at 4.00% for $12.5 million of notional. The weighted average maturity of the interest rate caps as of September 30, 2020 was 2 months. (B) Includes $4.4 billion notional of receive LIBOR/pay fixed of 2.96% and $4.7 billion notional of receive fixed of 0.80%/pay LIBOR with weighted average maturities of 31 months and 30 months, respectively, as of September 30, 2020. Includes $4.0 billion notional of receive LIBOR/pay fixed of 3.21% and $0.9 billion notional of receive fixed of 1.89%/pay LIBOR with weighted average maturities of 36 months and 87 months, respectively, as of December 31, 2019. (C) Represents the notional amount of Agency RMBS, classified as derivatives. The following table summarizes all income (losses) recorded in relation to derivatives: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Change in fair value of derivative investments (A) Interest rate caps $ — $ — $ — $ (3) Interest rate swaps 23,089 42,306 4,213 (26,893) TBAs — (917) — 1,859 23,089 41,389 4,213 (25,037) Gain (loss) on settlement of investments, net Interest rate swaps (23,192) (10,338) (62,039) (32,529) TBAs (B) — (3,809) (71,060) (119,895) (23,192) (14,147) (133,099) (152,424) Gain on originated mortgage loans, held-for-sale, net (A) Interest rate lock commitments 82,019 3,002 206,073 13,911 TBAs (6,013) 14,389 (23,428) 9,208 Forward loan sale commitments — (272) 27 (70) 76,006 17,119 182,672 23,049 Total income (losses) $ 75,903 $ 44,361 $ 53,786 $ (154,412) (A) Represents unrealized gains (losses). (B) Excludes $68.8 million and $290.7 million for the three and nine months ended September 30, 2020, respectively, and $32.1 million and $61.9 million for the three and nine months ended September 30, 2019, respectively, in loss on settlement included within gain on originated mortgage loans, held-for-sale, net (Note 8).

DEBT OBLIGATIONS

DEBT OBLIGATIONS	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
DEBT OBLIGATIONS	DEBT OBLIGATIONS Secured Financing Agreements The Company finances the acquisition of certain assets within its investment portfolio using secured financing agreements, including repurchase agreements and warehouse credit facilities. Repurchase agreements and warehouse credit facilities are treated as collateralized financing transactions and carried at their contractual amounts, including accrued interest, as specified in the respective agreements. The carrying amount of the Company’s secured financing agreements and warehouse credit facilities approximates fair value. The Company pledges certain securities, loans or other assets as collateral under secured financing agreements and warehouse credit facilities with financial institutions, the terms and conditions of which are negotiated on a transaction-by-transaction basis. The amounts available to be borrowed under repurchase agreements and warehouse credit facilities are dependent upon the fair value of the securities, or loans pledged as collateral, which can fluctuate with changes in interest rates, type of security and liquidity conditions within the banking, mortgage finance and real estate industries. The following table presents certain information regarding New Residential’s secured financing agreements and secured notes and bonds payable debt obligations: September 30, 2020 December 31, 2019 Collateral Debt Obligations/Collateral 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) Secured Financing Agreements (C) Repurchase Agreements: Warehouse Credit Facilities-Residential Mortgage Loans (F) $ 3,759,627 $ 3,754,803 Oct-20 to Jul-22 2.5 % 1.0 $ 4,156,437 $ 4,250,005 $ 4,215,066 17.1 $ 5,053,207 Agency RMBS (D) $ 9,958,246 $ 9,958,246 Oct-20 to Dec-20 0.2 % 0.2 $ 9,930,973 $ 10,285,282 $ 10,361,950 3.8 $ 15,481,677 Non-Agency RMBS (E) $ 952,323 $ 950,836 Oct-20 to Dec-20 4.1 % 0.1 $ 18,999,108 $ 1,730,072 $ 1,734,798 6.0 $ 7,317,519 Real Estate Owned (G)(H) $ 2,983 $ 2,983 Oct-20 to Jul-22 3.94 % 1.3 N/A N/A 3,796 N/A 63,822 Total Secured Financing Agreements 14,673,179 14,666,868 1.05 % 0.4 27,916,225 Secured Notes and Bonds Payable Excess MSRs (I) 264,980 264,980 Nov-20 to Aug-24 3.91 % 1.1 107,584,509 333,874 421,907 6.0 217,300 MSRs (J) 2,794,108 2,786,144 Jan-21 to Jul-25 4.57 % 2.3 444,177,336 4,645,075 4,675,648 5.8 2,640,036 Servicer Advance Investments (K) 412,538 412,538 Apr-21 to Aug-21 2.27 % 0.6 434,998 510,995 535,760 6.3 581,777 Servicer Advances (K) 2,502,158 2,492,239 Apr-21 to Sep-23 2.84 % 1.9 2,747,433 2,857,040 2,857,040 0.7 2,599,895 Residential Mortgage Loans (L) 1,103,847 1,096,638 Apr-21 to Aug-60 4.26 % 30.1 1,656,351 1,588,739 1,413,258 4.1 864,451 Consumer Loans (M) 678,951 681,109 September-37 2.03 % 3.0 663,047 718,287 718,287 3.6 816,689 Total Secured Notes and Bonds Payable 7,756,582 7,733,648 3.60 % 6.1 7,720,148 Total/ Weighted Average $ 22,429,761 $ 22,400,516 1.93 % 2.3 $ 35,636,373 (A) Net of deferred financing costs. (B) All debt obligations with a stated maturity through October 31, 2020 were refinanced, extended or repaid. (C) These secured financing agreements had approximately $19.5 million of associated accrued interest payable as of September 30, 2020. (D) All Agency RMBS repurchase agreements have a fixed rate. (E) All Non-Agency RMBS secured financing agreements have LIBOR-based floating interest rates. This also includes repurchase agreements and related collateral of $30.4 million and $37.3 million, respectively, on retained bonds collateralized by Agency MSRs. (F) Includes $270.7 million of repurchase agreements which bear interest at a fixed rate of 4.4%. All remaining repurchase agreements have LIBOR-based floating interest rates. (G) All 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) Includes $70.2 million of corporate loans which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 2.50% and $194.7 million of corporate loans which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 3.50%. The outstanding face amount of the collateral represents the UPB of the residential mortgage loans underlying the interests in MSRs that secure these notes. (J) Includes $933.0 million of MSR notes which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.50%; $37.4 million of MSR notes which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 2.50%; $326.1 million of MSR notes which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.50%; and $1,497.6 million of capital markets notes with fixed interest rates ranging 3.55% to 5.44%. The outstanding face amount of the collateral represents the UPB of the residential mortgage loans underlying the MSRs and MSR financing receivables that secure these notes. (K) $1.9 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 equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.38% to 1.85%. Collateral includes Servicer Advance Investments, as well as servicer advances receivable related to the mortgage servicing rights and MSR financing receivables owned by NRM. (L) Represents (i) a $989.1 million note payable to Mr. Cooper which includes a $1.4 million receivable from government agency and bears interest equal to one-month LIBOR plus 2.88%, (ii) $75.1 million face amount of SAFT 2013-1 mortgage-backed securities issued with fixed interest rate of 3.72% (see Note 12 for fair value details), (iii) $165.5 million of MDST Trusts asset-backed notes held by third parties which bear interest equal to 6.63% (see Note 12 for fair value details), and (iv) $989.1 million of bonds held by third parties which bear interest at a fixed rate ranging from 3.23% to 5.00%. (M) Includes the SpringCastle debt, which is primarily composed of the following classes of asset-backed notes held by third parties: $610.0 million UPB of Class A notes with a coupon of 1.97% and a stated maturity date in September 2037 and $53.0 million UPB of Class B notes with a coupon of 2.66% and a stated maturity date in September 2037. As of September 30, 2020, New Residential had no outstanding secured financing agreements where the amount at risk with any individual counterparty or group of related counterparties exceeded 10% of New Residential’s stockholders' equity. The amount at risk under secured financing agreements is defined as the excess of carrying amount (or market value, if higher than the carrying amount) of the securities or other assets sold under agreement to repurchase, including accrued interest plus any cash or other assets on deposit to secure the repurchase obligation, over the amount of the repurchase liability (adjusted for accrued interest). General Certain of the debt obligations included above are obligations of New Residential’s consolidated subsidiaries, which own the related collateral. In some cases, such collateral is not available to other creditors of New Residential. As of September 30, 2020, New Residential has margin exposure on $14.7 billion of secured financing agreements. To the extent that the value of the collateral underlying these secured financing 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 MSRs Servicer Advances (A) Real Estate Securities Residential Mortgage Loans and REO Consumer Loans Total Balance at December 31, 2019 $ 217,300 $ 2,640,036 $ 3,181,672 $ 22,799,196 $ 5,981,480 $ 816,689 $ 35,636,373 Secured Financing Agreements: Borrowings — — — 101,149,870 39,427,045 — 140,576,915 Repayments — — — (113,038,497) (40,782,949) — (153,821,446) Capitalized deferred financing costs, net of amortization — — — (1,487) (3,337) — (4,824) Secured Notes and Bonds Payable: Borrowings 97,173 2,367,635 3,053,589 — 875,758 663,047 7,057,202 Repayments (49,493) (2,220,067) (3,328,415) — (640,924) (797,904) (7,036,803) Discount on borrowings, net of amortization — 1,457 — — — (2,882) (1,425) Unrealized loss on notes, fair value — — — — (2,694) 2,159 (535) Capitalized deferred financing costs, net of amortization — (2,917) (2,069) — 45 — (4,941) Balance at September 30, 2020 $ 264,980 $ 2,786,144 $ 2,904,777 $ 10,909,082 $ 4,854,424 $ 681,109 $ 22,400,516 (A) New Residential net settles daily borrowings and repayments of the Secured notes and bonds payable on its servicer advances. Maturities New Residential’s debt obligations as of September 30, 2020 had contractual maturities as follows: Year Ending Nonrecourse Recourse Total October 1 through December 31, 2020 $ 1,296 $ 11,670,545 $ 11,671,841 2021 1,632,734 3,097,533 4,730,267 2022 119,403 1,691,631 1,811,034 2023 1,200,000 321,685 1,521,685 2024 — 522,589 522,589 2025 and thereafter 919,583 1,802,761 2,722,344 $ 3,873,016 $ 19,106,744 $ 22,979,760 Borrowing Capacity The following table represents New Residential’s borrowing capacity as of September 30, 2020: Debt Obligations / Collateral Borrowing Capacity Balance Outstanding Available Financing (A) Secured Financing Agreements Residential mortgage loans and REO $ 5,011,258 $ 995,151 $ 4,016,107 New loan originations 5,283,000 2,767,458 2,515,542 Secured Notes and Bonds Payable Excess MSRs 311,237 264,980 46,257 MSRs 1,750,000 1,296,506 453,494 Servicer advances 4,645,000 2,914,696 1,730,304 Residential mortgage loans 650,000 — 650,000 $ 17,650,495 $ 8,238,791 $ 9,411,704 (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. Certain of the debt obligations are subject to customary loan covenants and event of default provisions, including event of default provisions triggered by certain specified declines in New Residential’s equity or a failure to maintain a specified tangible net worth, liquidity, or indebtedness to tangible net worth ratio. New Residential was in compliance with all of its debt covenants as of September 30, 2020. 2020 Term Loan On May 19, 2020, the Company, as borrower, entered into a three In conjunction with the 2020 Term Loan, the Company issued common stock purchase warrants (the “2020 Warrants”) to the lenders. The 2020 Warrants expire approximately three years after the issuance date. The Company recorded the value of the 2020 Term Loan and 2020 Warrants on a relative fair value basis. The estimated fair value of the 2020 Warrants at the date of issuance was approximately $53.5 million and the Company recognized it as a discount to the 2020 Term Loan. Refer to Note 14, Equity and Earnings Per Share, for further details. In August 2020, the Company made a $51.0 million prepayment on the 2020 Term Loan. As a result, The Company recorded a $5.7 million loss on extinguishment of debt, representing a write-off of unamortized debt issuance costs and original issue discount. In September 2020, the Company used the net proceeds from a private debt offering, together with cash on hand, to fully retire all of the outstanding principal balance on the 2020 Term Loan. As a result, the Company recorded a $61.1 million loss on extinguishment of debt, primarily representing a write-off of unamortized debt issuance costs and original issue discount. The table below summarizes the interest expense on the 2020 Term Loan: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Coupon interest at 11.00% $ 13,652 $ — $ 20,435 $ — Amortization of debt discounts and issuance costs 3,368 — 5,006 — Total $ 17,020 $ — $ 25,441 $ — The 2020 Term Loan contained certain customary affirmative and negative covenants and also required the Company to maintain compliance with certain financial covenants. The Company was in compliance with all financial covenants through extinguishment of the 2020 Term Loan. 2025 Senior Unsecured Notes On September 16, 2020, the Company, as borrower, completed a private offering of $550.0 million aggregate principal amount of 6.250% senior unsecured notes due 2025 (the “2025 Senior Notes”). Interest on the 2025 Senior Notes accrue at the rate of 6.250% per annum with interest payable semi-annually in arrears on each April 15 and October 15, commencing on April 15, 2021. The 2025 Senior Notes mature on October 15, 2025 and the Company may redeem some or all of the 2025 Senior Notes at the Company’s option, at any time from time to time, on or after October 15, 2022 at a price equal to the following fixed redemption prices (expressed as a percentage of principal amount of the 2025 Senior Notes to be redeemed): Year Price 2022 103.125% 2023 101.563% 2024 and thereafter 100.000% Prior to October 15, 2022, the Company will be entitled at its option on one or more occasions to redeem the 2025 Senior Notes in an aggregate principal amount not to exceed 40% of the aggregate principal amount of the 2025 Senior Notes originally issued prior to the applicable redemption date at a fixed redemption price of 106.250%. Net proceeds from the offering were approximately $544.5 million, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by the Company. The Company used the net proceeds from the offering, together with cash on hand, to prepay and retire its then-existing 2020 Term Loan and to pay related fees and expenses. The Company recorded a $61.1 million loss on extinguishment of debt, representing a write-off of unamortized debt issuance costs and original issue discount. The Company incurred fees of approximately $8.3 million in relation to the issuance of the 2025 Senior Notes. These fees were capitalized as debt issuance cost and are grouped and presented as part of Unsecured senior notes, net of issuance costs on the condensed consolidated balance sheets. For both the three and nine months ended September 30, 2020 , the Company recognized $1.3 million of interest expense. At September 30, 2020 , the unamortized debt issuance costs was approximately $8.2 million. The 2025 Senior Notes are senior unsecured obligations and rank pari passu in right of payment with all of the Company’s existing and future senior unsecured indebtedness and senior unsecured guarantees. At the time of issuance, the 2025 Senior Notes were not guaranteed by any of the Company’s subsidiaries and none of its subsidiaries are required to guarantee the 2025 Senior Notes in the future, except under limited specified circumstances. The 2025 Senior Notes contain financial covenants and other non-financial covenants, including, among other things, limits on the ability of the Company and its restricted subsidiaries to incur certain indebtedness (subject to various exceptions), requires that the Company maintain total unencumbered assets (as defined in the debt agreement) of not less than 120% of the aggregate principal amount of the outstanding unsecured debt, and imposes certain requirements in order for the Company to merge or consolidate with or transfer all or substantially all of its assets to another person, in each case subject to certain qualifications set forth in the debt agreement. If the Company were to fail to comply with these covenants, after the expiration of the applicable cure periods, the debt maturity could be accelerated or other remedies could be sought by the lenders. As of September 30, 2020, the Company was in compliance with all covenants. In the event of a change of control, each holder of the 2025 Senior Notes will have the right to require the Company to repurchase all or any part of the outstanding balance at a purchase price of 101% of the principal amount of the 2025 Senior Notes repurchased, plus accrued and unpaid interest, if any, to, but not including, the date of such repurchase.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT The carrying values and fair values of New Residential’s 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, 2020 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) $ 77,351,569 $ 328,623 $ — $ — $ 328,623 $ 328,623 Excess mortgage servicing rights, equity method investees, at fair value (A) 30,232,940 107,359 — — 107,359 107,359 Mortgage servicing rights, at fair value (A) 386,369,641 3,651,805 — — 3,651,805 3,651,805 Mortgage servicing rights financing receivables, at fair value (A) 75,249,807 1,129,819 — — — 1,129,819 1,129,819 Servicer advance investments, at fair 434,998 535,760 — — 535,760 535,760 Real estate and other securities 30,311,608 10,830,067 — 9,420,823 1,409,244 10,830,067 Residential mortgage loans, held-for-sale 719,533 578,353 — 62,273 516,080 578,353 Residential mortgage loans, held-for-sale, at fair value 4,347,725 4,358,473 — 3,175,134 1,183,339 4,358,473 Residential mortgage loans, held-for-investment, at fair value 784,838 718,802 — — 718,802 718,802 Residential mortgage loans subject to repurchase 1,458,325 1,458,325 — 1,458,325 — 1,458,325 Consumer loans, held-for-investment, at fair value 667,184 722,110 — — 722,110 722,110 Derivative assets 22,562,001 255,496 — 9,249 246,247 255,496 Note receivable 48,278 48,016 — — 48,016 48,016 Cash and cash equivalents 841,022 841,022 841,022 — — 841,022 Restricted cash 180,554 180,554 180,554 — — 180,554 Other assets (B) N/A 44,545 8,172 — 36,373 44,545 $ 25,789,129 $ 1,029,748 $ 14,125,804 $ 10,633,577 $ 25,789,129 Liabilities Secured financing agreements $ 14,673,178 $ 14,666,868 $ — $ 14,673,178 $ — $ 14,673,178 Secured notes and bonds payable (C) 7,756,582 7,733,648 — — 7,718,539 7,718,539 Unsecured senior notes, net of issuance costs 541,758 541,758 — — 541,758 541,758 Residential mortgage loan repurchase liability 1,458,325 1,458,325 — 1,458,325 — 1,458,325 Derivative liabilities 9,230,520 37,820 — 37,537 283 37,820 Excess spread financing 2,416,800 20,129 — — 20,129 20,129 Contingent consideration N/A 13,628 — — 13,628 13,628 $ 24,472,176 $ — $ 16,169,040 $ 8,294,337 $ 24,463,377 (A) The notional amount represents the total unpaid principal balance of the residential mortgage loans underlying the MSRs, MSR financing receivables and Excess MSRs. New Residential does not receive an excess mortgage servicing amount on non-performing loans in Agency portfolios. (B) Excludes the indirect equity investment in a commercial redevelopment project that is accounted for at fair value on a recurring basis based on the NAV of New Residential’s investment. The investment had a fair value of $31.8 million as of September 30, 2020. (C) Includes the SAFT 2013-1, MDST Trusts, NPL/RPL Securitization Trusts and SCFT 2020-A mortgage backed securities issued for which the fair value option for financial instruments was elected and resulted in a fair value of $1.8 billion as of September 30, 2020. New Residential’s 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) MSRs (A) MSR Financing Receivables (A) Servicer Advance Investments Non-Agency RMBS Derivatives (C) Residential Mortgage Loans Consumer Loans Agency Non-Agency Total Balance at December 31, 2019 $ 209,633 $ 170,114 $ 125,596 $ 3,967,960 $ 1,718,273 $ 581,777 $ 7,957,785 $ 39,891 $ 3,998,825 $ — $ 18,769,854 Transfers Transfers from Level 3 — — — — — — — — (715,790) — (715,790) Transfers to Level 3 — — — — — — — — 440,168 827,545 1,267,713 Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights — — — 320,613 (320,613) — — — — — — Gains (losses) included in net income Included in provision (reversal) for credit losses on securities (D) — — — — — — (15,300) — — — (15,300) Included in change in fair value of investments in excess mortgage servicing rights (D) (7,805) (3,968) — — — — — — — — (11,773) Included in change in fair value of investments in excess mortgage servicing rights, equity method investees (D) — — (2,902) — — — — — — — (2,902) Included in servicing revenue, net (E) — — — (1,497,731) — — — — — — (1,497,731) Included in change in fair value of investments in mortgage servicing rights financing receivables (D) — — — — (245,906) — — — — — (245,906) Included in change in fair value of servicer advance investments — — — — — 431 — — — — 431 Included in change in fair value of investments in residential mortgage loans — — — — — — — — (109,324) — (109,324) Included in gain (loss) on settlement of investments, net 14 1 — — — — (944,257) — — — (944,242) Included in other income (loss), net (D) (10,817) (1,373) — — — — (30,695) 206,073 (8,399) (9,634) 145,155 Gains (losses) included in other comprehensive income (F) — — — — — — (593,130) — (6,020) 36,472 (562,678) Interest income 12,066 13,110 — — — 13,080 95,713 — — 18,844 152,813 Purchases, sales and repayments Purchases, net (G) — — — 446,964 (18,227) 991,289 575,030 — 1,917,894 25,008 3,937,958 Proceeds from sales (56) (5) — (10,452) (3,708) (5,139,114) — (3,376,461) — (8,529,796) Proceeds from repayments (29,486) (22,805) (15,335) — — (1,050,817) (495,100) — (238,752) (176,125) (2,028,420) Originations and other — — — 424,451 — — (1,688) — — — 422,763 Balance at September 30, 2020 $ 173,549 $ 155,074 $ 107,359 $ 3,651,805 $ 1,129,819 $ 535,760 $ 1,409,244 $ 245,964 $ 1,902,141 $ 722,110 $ 10,032,825 (A) Includes the recapture agreement for each respective pool, as applicable. (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) For the purpose of this table, the IRLC asset and liability positions are shown net. (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) The components of Servicing revenue, net are disclosed in Note 5. (F) These gains (losses) were included in net unrealized gain (loss) on securities in the condensed consolidated statements of comprehensive income. (G) Net of purchase price adjustments and purchase price fully reimbursable from MSR sellers as a result of prepayment protection. New Residential’s liabilities measured at fair value on a recurring basis using Level 3 inputs changed as follows: Level 3 Excess Spread Financing Asset-Backed Securities Issued Contingent Consideration Total Balance at December 31, 2019 $ 31,777 $ 659,738 $ 55,222 $ 746,737 Transfers Transfers from Level 3 — — (43,875) (43,875) Transfers to Level 3 — — — — Acquisition — — — — Gains (losses) included in net income Included in provision (reversal) for credit losses on securities (A) — — — — Included in change in fair value of investments in excess mortgage servicing rights — — — — Included in change in fair value of investments in excess mortgage servicing rights, equity method investees (A) — — — — Included in servicing revenue, net (B) (12,259) — — (12,259) Included in change in fair value of investments in mortgage servicing rights financing receivables — — — — Included in change in fair value of servicer advance investments — — — — Included in change in fair value of investments in residential mortgage loans — (534) — (534) Included in gain (loss) on settlement of investments, net — — — — Included in other income (A) — — 4,225 4,225 Gains (losses) included in other comprehensive income, net of tax (C) — — — — Interest income — — — — Purchases, sales and repayments Purchases — 1,538,804 — 1,538,804 Proceeds from sales — — — — Payments — (439,911) (1,944) (441,855) Other 611 (1,465) — (854) Balance at September 30, 2020 $ 20,129 $ 1,756,632 $ 13,628 $ 1,790,389 (A) The gains (losses) recorded in earnings during the period are attributable to the change in unrealized gains (losses) relating to Level 3 liabilities still held at the reporting dates and realized gains (losses) recorded during the period. (B) The components of Servicing revenue, net are disclosed in Note 5. (C) These gains (losses) were included in Net unrealized gain (loss) on securities in the condensed consolidated statements of comprehensive income. Investments in Excess MSRs, Excess MSRs Equity Method Investees, MSRs and MSR Financing Receivables Valuation The following table summarizes certain information regarding the ranges and weighted averages of inputs used as of September 30, 2020: Significant Inputs (A) Prepayment (B) Delinquency (C) Recapture (D) Mortgage Servicing Amount or Excess Mortgage Servicing Amount (bps) (E) Collateral Weighted Average Maturity (Years) (F) Excess MSRs Directly Held (Note 4) Agency Original Pools 7.1% - 10.1% (8.3%) —% - 2.8% (1.2%) 4.4% - 23.3% (10.4%) 15 - 32 (21) 14 - 22 (19) Recaptured Pools 7.9% - 11.5% (10.2%) 0.1% - 3.6% (0.8%) —% - 33.9% (21.6%) 21 - 29 (24) 19 - 24 (22) 7.1% - 11.5% (8.9%) —% - 3.6% (1.1%) —% - 33.9% (14.1%) 15 - 32 (22) 14 - 24 (20) Non-Agency (G) Mr. Cooper and SLS Serviced: Original Pools 7.4% - 12.5% (8.8%) 3.2% - 15.0% (11.1%) —% - 13.1% (8.4%) 5 - 25 (15) 18 - 28 (23) Recaptured Pools 5.6% - 7.1% (6.3%) 0.2% - 0.5% (0.4%) 12.0% - 22.4% (14.1%) 23 - 28 (25) 21 - 24 (23) 5.6% - 12.5% (8.4%) 0.2% - 15.0% (11.1%) —% - 22.4% (9.3%) 5 - 28 (17) 18 - 28 (23) Total/Weighted Average — Excess MSRs Directly Held 5.6% - 12.5% (8.7%) —% - 15.0% (5.1%) —% - 33.9% (11.8%) 5 - 32 (19) 14 - 28 (21) Excess MSRs Held through Equity Method Investees (Note 4) Agency Original Pools 7.5% - 10.1% (8.3%) 0.9% - 2.2% (1.4%) 5.5% - 23.3% (9.6%) 15 - 25 (19) 18 - 19 (18) Recaptured Pools 9.2% - 10.5% (9.6%) 0.6% - 1.4% (1.1%) 12.3% - 29.8% (16.1%) 22 - 28 (25) 20 - 23 (22) Total/Weighted Average — Excess MSRs Held through Investees 7.5% - 10.7% (9.0%) 0.6% - 2.2% (1.2%) 5.5% - 29.8% (12.9%) 15 - 28 (22) 18 - 23 (20) Total/Weighted Average — Excess MSRs All Pools 5.6% - 12.5% (8.8%) —% - 15.0% (3.7%) —% - 33.9% (12.2%) 5 - 32 (20) 14 - 28 (21) MSRs Agency (H) Mortgage Servicing Rights (I) (J) 7.5% - 18.9% (12.1%) 0.4% - 2.7% (0.9%) 2.7% - 25.5% (15.9%) 25 - 33 (28) 0 - 30 (22) MSR Financing Receivables (I) 11.1% 0.7% 14.7% 25 0 - 30 (23) 7.5% - 18.9% (12.0%) 0.4% - 2.7% (0.9%) 2.7% - 25.5% (15.9%) 25 - 33 (28) 0 - 30 (22) Non-Agency Mortgage Servicing Rights (I) 9.9% - 15.4% (13.5%) 1.0% - 10.2% (4.3%) 3.8% - 25.0% (17.5%) 26 - 88 (48) 0 - 30 (16) MSR Financing Receivables (I) 8.0% 14.4% 8.2% 48 0 - 30 (25) 8.0% - 15.4% (8.1%) 1.0% - 10.2% (14.2%) 3.8% - 25.0% (8.3%) 26 - 88 (48) 0 - 30 (25) Ginnie Mae Mortgage Servicing Rights (I) (J) 9.4% - 24.0% (20.1%) 1.6% - 8.4% (6.5%) 15.9% - 35.0% (22.1%) 32 - 52 (45) 0 - 30 (27) Total/Weighted Average — MSRs 7.5% - 24.0% (12.2%) 0.4% - 10.2% (4.7%) 2.7% - 35.0% (10.0%) 25 - 88 (35) 0 - 30 (23) (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 residential 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 or subservicer, as applicable. (E) Weighted average total mortgage servicing amount, in excess of the basic fee as applicable, measured in basis points (bps). A weighted average cost of subservicing of $6.20 - $7.70 ($6.90) per loan per month was used to value the agency MSRs, including MSR Financing Receivables. A weighted average cost of subservicing of $11.00 per loan per month was used to value the Non-Agency MSRs, including MSR Financing Receivables. A weighted average cost of subservicing of $9.30 per loan per month was used to value the Ginnie Mae MSRs. (F) Weighted average maturity of the underlying residential 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. (H) Represents Fannie Mae and Freddie Mac MSRs. (I) For certain pools, recapture rate represents the expected recapture rate with the successor subservicer appointed by NRM. (J) Includes valuation of the related Excess spread financing (Note 5). With respect to valuing the Ocwen-serviced MSR financing receivables, which include a significant servicer advances receivable component, the cost of financing servicer advances receivable is assumed to be LIBOR plus 2.1%. As of September 30, 2020, a weighted average discount rate of 7.8% (range 7.5% - 8.0%) was used to value New Residential’s investments in Excess MSRs (directly and through equity method investees). As of September 30, 2020, a weighted average discount rate of 7.7% (range 7.4% - 13.0%) was used to value New Residential’s investments in MSRs and a weighted average discount rate of 9.4% (range 7.4% - 9.5%) was used to value New Residential’s investments in MSR financing receivables. Servicer Advance Investments Valuation The following table summarizes certain information regarding the ranges and weighted averages of inputs used in valuing the Servicer advance investments, including the basic fee component of the related MSRs: Significant Inputs 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, 2020 1.0% - 1.6% (1.6%) 8.9% - 9.9% (9.9%) 7.2% - 17.4% (17.1%) 16.5 - 19.7 (19.7) bps 5.2% - 5.7% (5.2%) 22 - 23 (22) (A) Projected annual weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector. (B) Mortgage servicing amount is net of 10.2 bps which represents the amount New Residential paid its servicers as a monthly servicing fee. (C) Weighted average maturity of the underlying residential mortgage loans in the pool. Real Estate and Other Securities Valuation As of September 30, 2020, 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 $ 9,035,433 $ 9,362,556 $ 9,420,823 $ — $ 9,420,823 2 Non-Agency RMBS (C) 21,276,175 1,386,243 1,407,539 1,705 1,409,244 3 Total $ 30,311,608 $ 10,748,799 $ 10,828,362 $ 1,705 $ 10,830,067 (A) New Residential generally obtained pricing service quotations or broker quotations from two sources, one of which was generally the seller (the party that sold New Residential the security) for Non-Agency RMBS. 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, for Non-Agency RMBS, 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 83.1% of New Residential’s Non-Agency RMBS, the ranges and weighted averages 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 $ 1,171,657 1.1% to 17.7% (4.2%) 1.0% to 30.0% (13.1%) 0.3% to 4.5% (0.8%) 12.8% to 95.0% (48.0%) (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. (C) Includes New Residential’s investments in interest-only notes for which the fair value option for financial instruments was elected. Residential Mortgage Loans Valuation New Residential, through its wholly owned subsidiary, NewRez, originates mortgage loans that it intends to sell into Fannie Mae, Freddie Mac, and Ginnie Mae mortgage backed securitizations. Residential mortgage loans held-for-sale, at fair value are typically pooled together and sold into certain exit markets, depending upon underlying attributes of the loan, such as agency eligibility, product type, interest rate, and credit quality. Residential mortgage loans held-for-sale, at fair value are valued using a market approach by utilizing either: (i) the fair value of securities backed by similar mortgage loans, adjusted for certain factors to approximate the fair value of a whole mortgage loan, (ii) current commitments to purchase loans or (iii) recent observable market trades for similar loans, adjusted for credit risk and other individual loan characteristics. As these prices are derived from market observable inputs, New Residential classifies these valuations as Level 2 in the fair value hierarchy. Residential mortgage loans held-for-sale, at fair value also includes certain nonconforming mortgage loans originated for sale to private investors, which are valued using internal pricing models to forecast loan level cash flows using inputs such as default rates, prepayments speeds and discount rates. As the internal pricing model is based on certain unobservable inputs, New Residential classifies these valuations as Level 3 in the fair value hierarchy. The following table summarizes certain information regarding the ranges and weighted averages of inputs used in valuing residential mortgage loans held-for-sale, at fair value classified as Level 3: Fair Value Discount Rate Prepayment Rate CDR Loss Severity Acquired loans $ 1,169,628 3.5% - 8.5% (5.1%) —% - 7.0% (4.3%) 2.0% - 7.0% (4.0%) —% -30.0% (17.4%) Originated loans 13,711 2.9% 1.6% 7.0% 10.0% Residential mortgage loans held-for-sale, at fair value $ 1,183,339 Residential mortgage loans held-for-investment, at fair value includes mortgage loans underlying the SAFT 2013-1 securitization, which are valued using internal pricing models using inputs such as default rates, prepayment speeds and discount rates. As the internal pricing model is based on certain unobservable inputs, New Residential classifies these valuations as Level 3 in the fair value hierarchy. The following table summarizes certain information regarding the ranges and weighted averages of inputs used in valuing residential mortgage loans held-for-investment, at fair value classified as Level 3: Fair Value Discount Rate Prepayment Rate CDR Loss Severity Residential mortgage loans held-for-investment, at fair value $ 718,802 6.7% - 9.5% (6.9%) 2.8% - 2.9% (2.8%) 2.0% - 6.5% (6.1%) 30.0% - 49.2% (47.5%) Consumer Loans Valuation The following table summarizes certain information regarding the ranges and weighted averages of inputs used in valuing consumer loans held-for-investment, at fair value, classified as Level 3: Fair Value Discount Rate Prepayment Rate CDR Loss Severity Consumer loans, held-for-investment, at fair value $ 722,110 8.0% - 10.2% (8.0%) 18.3% - 31.5% (18.4%) 5.5% - 18.0% (5.6%) 82.1% - 90.2% (82.1%) 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 classified as Level 2 in the fair value hierarchy. As a part of the mortgage loan origination business, New Residential enters into forward loan sale and securities delivery commitments, which are valued based on observed market pricing for similar instruments and therefore, are classified as Level 2. In addition, New Residential enters into IRLCs, which are valued using internal pricing models (i) incorporating market pricing for instruments with similar characteristics, (ii) estimating the fair value of the servicing rights expected to be recorded at sale of the loan and (iii) adjusting for anticipated loan funding probability. Both the fair value of servicing rights expected to be recorded at the date of sale of the loan and anticipated loan funding probability are significant unobservable inputs and therefore, IRLCs are classified as Level 3 in the fair value hierarchy. The following table summarizes certain information regarding the ranges and weighted averages of inputs used in valuing IRLCs: Fair Value Loan Funding Probability Fair Value of initial servicing rights (bps) IRLCs (net) $ 245,964 0.0% - 100.0% (81.0%) 6.0 - 253.3 (103.4) Mortgage-Backed Securities Issued New Residential and NewRez, a wholly owned subsidiary of New Residential, were deemed to be the primary beneficiaries of the MDST Trusts, SAFT 2013-1 securitization entity, NPL/RPL Securitization Trusts and SCFT 2020-A, and therefore, New Residential’s condensed consolidated balance sheets include the mortgage-backed securities issued by the MDST Trusts, SAFT 2013-1, NPL/RPL Securitization Trusts and SCFT 2020-A, respectively. New Residential elected the fair value option for these financial instruments and the mortgage-backed securities issued were valued consistently with New Residential’s Non-Agency RMBS described above. The following table summarizes certain information regards the ranges and weighted averages of inputs used in valuing Mortgage-Backed Securities Issued: Fair Value Discount Rate Prepayment Rate CDR Loss Severity Mortgage-backed securities issued $ 1,756,632 1.9% - 5.4% (3.2%) 5.0% - 19.6% (15.1%) 3.0% - 50.0% (9.9%) 20.0% - 95.6% (55.4%) Contingent Consideration Valuation As additional consideration for the Guardian acquisition announced in August 2019, New Residential may make up to four cash earnout payments, calculated as the amount of cumulative Guardian earnings on specified contracts in excess of certain thresholds up to an aggregate maximum amount of $17.5 million (the “Guardian Earnout Payments”), which will be calculated following the end of each calendar year with the final payment being calculated as of the fourth anniversary date of the Guardian closing. On April 10, 2020, New Residential made its first Guardian Earnout Payment of $1.9 million. As described above, in accordance with ASC 805, New Residential measures its contingent consideration at fair value on a recurring basis using a scenario-based method to weigh the probability of multiple outcomes to arrive at an expected payment cash flow and then discounts the expected cash flow. The inputs utilized in valuing the contingent consideration include a discount rate of 11% and the application of probability weighting of income scenarios, which are significant unobservable inputs and therefore, contingent consideration is classified as Level 3 in the fair value hierarchy. 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, 2020, assets measured at fair value on a nonrecurring basis were $602.7 million. The $602.7 million of assets include approximately $572.5 million of residential mortgage loans held-for-sale and $30.2 million of REO. The fair value of New Residential’s residential mortgage loans, held-for-sale is estimated based on a discounted cash flow model analysis using internal pricing models and is categorized within Level 3 of the fair value hierarchy. The following table summarizes the inputs used in valuing these residential mortgage loans as of September 30, 2020: Fair Value and Carrying Value Discount Rate Weighted Average Life (Years) (A) Prepayment Rate CDR (B) Loss Severity (C) Performing loans $ 191,580 4.5% - 9.5% (6.6%) 3.0 - 9.1 (4.9) 5.1% - 7.0% (6.8%) 0.8% - 12.2% (2.5%) 28.7% - 100.0% (40.7%) Non-performing loans 380,925 7.5% - 7.5% (7.5%) 3.0 - 3.0 (3.0) 2.0% - 2.0% (2.0%) 2.9% - 2.9% (2.9%) 30.0% - 30.0% (30.0%) Total/weighted average $ 572,505 7.2% 3.6 3.6% 2.7% 33.6% (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% - 25% (weighted average of 17%), depending on the information available to the broker.

CONSOLIDATED VARIABLE INTEREST

CONSOLIDATED VARIABLE INTEREST ENTITIES	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CONSOLIDATED VARIABLE INTEREST ENTITIES	CONSOLIDATED VARIABLE INTEREST ENTITIES VIEs are defined as entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. A VIE is required to be consolidated only by its primary beneficiary, which is defined as the party who has the power to direct the activities of a VIE that most significantly impact its economic performance and who has the obligation to absorb losses or the right to receive benefits from the VIE that could be potentially significant to the VIE. To assess whether New Residential has the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance, New Residential considers all the facts and circumstances, including its role in establishing the VIE and its ongoing rights and responsibilities. This assessment includes, first, identifying the activities that most significantly impact the VIE’s economic performance; and second, identifying which party, if any, has power over those activities. To assess whether New Residential has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, New Residential considers all of its economic interests and applies judgment in determining whether these interests, in the aggregate, are considered potentially significant to the VIE. Servicer Advance Investment New Residential, through a taxable wholly owned subsidiary, is the managing member of the Buyer and owned approximately 73.2% of the Buyer as of September 30, 2020. In 2013, New Residential created the Buyer to acquire the then outstanding servicing advance receivables related to a portfolio of residential mortgage loans from a third party. The Buyer is required to purchase all future servicer advances made with respect to this portfolio of mortgage loans and is entitled to receive cash flows from advance recoveries and a basic fee component of the related MSRs, net of subservicing compensation paid. The Buyer may call capital up to the commitment amount on unfunded commitments and recall capital to the extent the Buyer makes a distribution to the co-investors, including New Residential. As of September 30, 2020, the noncontrolling third-party co-investors and New Residential had previously funded their commitments, however the Buyer may recall $328.4 million and $306.9 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. Shelter Joint Ventures A wholly owned subsidiary of NewRez, Shelter Mortgage Company LLC (“Shelter”) is a mortgage originator specializing in retail originations. Shelter operates its business through a series of joint ventures (“Shelter JVs”) and is deemed to be the primary beneficiary of the joint ventures as a result of its ability to direct activities that most significantly impact the economic performance of the entities and its ownership of a significant equity investment. Residential Mortgage Loans During the third quarter of 2020, New Residential formed entities, (collectively, the “NPL/RPL Securitizations”) that separately issued securitized debt collateralized by non-performing and reperforming residential mortgage loans. New Residential determined that the NPL/RPL Securitizations should be evaluated for consolidation under the VIE model rather than the voting interest entity model as the equity holders as a group lack the characteristics of a controlling financial interest. Under the VIE model, New Residential’s consolidated subsidiaries had both 1) the power to direct the most significant activities of the NPL/RPL Securitizations and 2) significant variable interests in each of the NPL/RPL Securitizations, through their control of the related optional redemption feature and their ownership of certain notes issued by the NPL/RPL Securitizations and, therefore, met the primary beneficiary criterion and, accordingly, the Company consolidated the NPL/RPL Securitizations. On October 1, 2019, as a result of New Residential’s acquisition of servicing assets from the bankruptcy estate of Ditech Holding Company and Ditech Financial LLC (“Ditech”) and its pre-existing ownership of the equity, New Residential consolidated the MDST Trusts. New Residential’s determination to consolidate the MDST Trusts is a result of its ownership of the equity in these trusts in conjunction with the ability to direct activities that most significantly impact the economic performance of the entities with the acquisition of the servicing by NewRez. The following table comprises bonds retained pursuant to required risk retention regulations: As of and for the 2020 2019 Residential mortgage loan UPB $ 14,823,202 $ 11,183,024 Weighted average delinquency (A) 4.82 % 1.97 % Net credit losses $ 50,355 $ 5,738 Face amount of debt held by third parties (B) $ 12,884,341 $ 10,074,690 Carrying value of bonds retained by New Residential (C)(D) $ 1,549,112 $ 1,258,292 Cash flows received by New Residential on these bonds $ 225,545 $ 161,794 (A) Represents the percentage of the UPB that is 60+ days delinquent. (B) Excludes bonds retained by New Residential. (C) Includes bonds retained pursuant to required risk retention regulations. (D) Classified within Level 3 of the fair value hierarchy as the valuation is based on certain unobservable inputs including discount rate, prepayment rates and loss severity. See Note 12 for details on unobservable inputs. Consumer Loan Companies New Residential has a co-investment in a portfolio of consumer loans held through the Consumer Loan Companies. As of September 30, 2020, New Residential owns 53.5% of the limited liability company interests in, and consolidates, the Consumer Loan Companies. The Consumer Loan Companies consolidate certain entities that issued securitization 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 table below presents the carrying value and classification of the assets and liabilities of consolidated VIEs on New Residential’s condensed consolidated balance sheets: The Buyer Shelter Joint Ventures Residential Mortgage Loans Consumer Loan SPVs Total September 30, 2020 Assets Servicer advance investments, at fair value $ 521,882 $ — $ — $ — $ 521,882 Residential mortgage loans, held-for-investment, at fair value — — 390,890 — 390,890 Residential mortgage loans, held-for-sale — — 352,225 — 352,225 Residential mortgage loans, held-for-sale, at fair value — — 622,269 — 622,269 Consumer loans, held-for-investment, at fair value — — — 718,355 718,355 Cash and cash equivalents 40,653 35,642 — — 76,295 Restricted cash 5,044 — — 5,890 10,934 Other assets 6 9,896 6,183 9,850 25,935 Total Assets $ 567,585 $ 45,538 $ 1,371,567 $ 734,095 $ 2,718,785 Liabilities Secured notes and bonds payable (A) $ 404,907 $ — $ 1,091,426 $ 678,950 $ 2,175,283 Accrued expenses and other liabilities 2,237 8,906 1,871 1,686 14,700 Total Liabilities $ 407,144 $ 8,906 $ 1,093,297 $ 680,636 $ 2,189,983 December 31, 2019 Assets Servicer advance investments, at fair value $ 565,271 $ — $ — $ — $ 565,271 Residential mortgage loans, held-for-investment, at fair value — — 913,030 — 913,030 Consumer loans, held-for-investment — — — 818,943 818,943 Cash and cash equivalents 30,065 23,802 — — 53,867 Restricted cash 5,350 — — 9,073 14,423 Other assets 2,414 3,556 — 12,409 18,379 Total Assets $ 603,100 $ 27,358 $ 913,030 $ 840,425 $ 2,383,913 Liabilities Secured notes and bonds payable (A) $ 433,300 $ — $ 659,738 $ 820,658 $ 1,913,696 Accrued expenses and other liabilities 1,593 4,187 10,132 4,126 20,038 Total Liabilities $ 434,893 $ 4,187 $ 669,870 $ 824,784 $ 1,933,734 (A) The creditors of the VIEs do not have recourse to the general credit of New Residential, and the assets of the VIEs are not directly available to satisfy New Residential’s obligations. Noncontrolling Interests Noncontrolling interests represent the ownership interests in certain consolidated subsidiaries held by entities or persons other than New Residential. These interests are related to noncontrolling interests in consolidated entities that hold New Residential’s Servicer advance investments (Note 6), the Shelter JVs, (Note 8), Residential mortgage loan trusts (Note 8), and Consumer loans (Note 9). Others’ interests in the equity of New Residential’s consolidated subsidiaries is computed as follows: September 30, 2020 December 31, 2019 The Buyer (A) Shelter Joint Ventures Consumer Loan Companies The Buyer (A) Shelter Joint Ventures Consumer Loan Companies Total consolidated equity $ 160,440 $ 36,612 $ 80,782 $ 168,207 $ 23,171 $ 46,510 Others’ ownership interest 26.8 % 50.2 % 46.5 % 26.8 % 49.0 % 46.5 % Others’ interest in equity of consolidated subsidiary $ 42,946 $ 18,365 $ 38,126 $ 45,025 $ 11,354 $ 22,171 Others’ interests in the New Residential’s net income (loss) is computed as follows: Three Months Ended September 30, 2020 2019 The Buyer (A) Shelter Joint Ventures Consumer Loan Companies The Buyer (A) Shelter Joint Ventures Consumer Loan Companies Net income $ 9,761 $ 9,649 $ 9,006 $ 6,288 $ 5,098 $ 22,790 Others’ ownership interest as a percent of total 26.8 % 50.2 % 46.5 % 26.8 % 48.2 % 46.5 % Others’ interest in net income of consolidated subsidiaries $ 2,612 $ 4,840 $ 4,188 $ 1,684 $ 2,457 $ 10,597 (A) As a result, New Residential owned 73.2% and 73.2% of the Buyer, on average during the three months ended September 30, 2020 and 2019, respectively. See Note 11 regarding the financing of Servicer advance investments. Nine Months Ended September 30, 2020 2019 The Buyer (A) Shelter Joint Ventures Consumer Loan Companies The Buyer (A) Shelter Joint Ventures Consumer Loan Companies Net income $ (162) $ 21,017 $ 50,795 $ 16,678 $ 9,144 $ 49,690 Others’ ownership interest as a percent of total 26.8 % 50.2 % 46.5 % 26.8 % 48.2 % 46.5 % Others’ interest in net income of consolidated subsidiaries $ (44) $ 10,542 $ 23,620 $ 4,466 $ 4,407 $ 23,106 (A) As a result, New Residential owned 73.2% and 73.2% of the Buyer, on average during the nine months ended September 30, 2020 and 2019, respectively. See Note 11 regarding the financing of Servicer advance investments.

EQUITY AND EARNINGS PER SHARE

EQUITY AND EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
EQUITY AND EARNINGS PER SHARE	EQUITY AND EARNINGS PER SHARE Equity and Dividends In February 2019, New Residential issued 46.0 million shares of its common stock in a public offering at a price to the public of $16.50 per share for net proceeds of approximately $751.7 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 4.6 million shares of New Residential’s common stock at the public offering price, which had a fair value of approximately $3.8 million as of the grant date. The assumptions used in valuing the options were: a 2.40% risk-free rate, a 9.30% dividend yield, 19.26% volatility and a 10-year term. On July 30, 2018, New Residential entered into a Distribution Agreement to sell shares of its common stock, par value $0.01 per share (the “ATM Shares”), having an aggregate offering price of up to $500.0 million, from time to time, through an “at-the market” equity offering program (the “ATM Program”). On August 1, 2019, the Distribution Agreement was amended to, among other things, (i) add additional sales agents under the ATM Program, and (ii) restore the aggregate offering price under the ATM Program to the original amount of $500.0 million. The following table summarizes the Company’s ATM Program activity: Quarter Ended Number of Common shares Average price per share Gross Proceeds Fees Net Proceeds March 31, 2020 (A) 97,394 $ 17.06 $ 1,662 $ 12 $ 1,649 June 30, 2020 — — — — — September 30, 2020 — — — — — (A) In connection with the shares sold under the ATM program, New Residential granted options to the Manager relating to 0.01 million shares of New Residential’s common stock at the offering price, which had fair value of approximately $0.2 million as of the grant date. On July 2, 2019, in a public offering, New Residential issued 6.2 million shares of its 7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Preferred Series A”), par value $0.01 per share, with a liquidation preference of $25.00 per share for net proceeds of approximately $150.0 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 0.6 million shares of New Residential’s common stock at the closing price per share of common stock on the pricing date, which had a fair value of approximately $0.5 million as of the grant date. The assumptions used in valuing the options were: a 1.91% risk-free rate, a 9.73% dividend yield, 17.95% volatility and 10-year term. On August 15, 2019, in a public offering, New Residential issued 11.3 million shares of its 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Preferred Series B”), par value $0.01 per share, with a liquidation preference of $25.00 per share for net proceeds of approximately $273.4 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 1.1 million shares of New Residential’s common stock at the closing price per share of common stock on the pricing date, which had a fair value of approximately $0.7 million as of the grant date. The assumptions used in valuing the options were: a 1.56% risk-free rate, a 11.20% dividend yield, 18.23% volatility and a 10-year term. On February 14, 2020, in a public offering, New Residential issued 16.1 million of its 6.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Preferred Series C”), par value $0.01 per share, with a liquidation preference of $25.00 per share for net proceeds of approximately $389.5 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 1.6 million shares of New Residential’s common stock at the closing price per share of common stock on the pricing date, which had a fair value of approximately $1.0 million as of the grant date. The assumptions used in valuing the options were: a 1.55% risk-free rate, a 9.00% dividend yield, 17.39% volatility and a 10-year term. The table below summarizes Preferred Shares: Dividends Declared per Share Series Number of Shares Liquidation Preference Issuance Discount Carrying Value Three Months Ended Nine Months Ended Fixed-to-floating rate cumulative redeemable preferred: Preferred Series A, 7.50% issued July 2019 6,210 $ 155,250 3.15 % $ 150,026 $ 0.47 $ 1.41 Preferred Series B, 7.125% issued August 2019 11,300 282,500 3.15 % 273,418 $ 0.45 $ 1.34 Preferred Series C, 6.375% issued February 2020 16,100 402,500 3.15 % 389,548 $ 0.40 $ 1.20 Total 33,610 $ 840,250 $ 812,992 On September 23, 2020, New Residential’s board of directors declared third quarter 2020 preferred dividends of $0.47 per share of Preferred Series A, $0.45 per share of Preferred Series B, and $0.40 of Preferred Series C or $2.9 million, $5.0 million, and $6.4 million respectively. Common dividends have been declared as follows: Declaration Date Payment Date Per Share Total Amounts Distributed (millions) Quarterly Dividend March 31, 2020 April 2020 $ 0.05 $ 20.8 June 22, 2020 July 2020 $ 0.10 $ 41.6 September 23, 2020 October 2020 $ 0.15 $ — Approximately 2.4 million shares of New Residential’s common stock were held by Fortress, through its affiliates, at September 30, 2020. On August 20, 2019, New Residential announced that its board of directors had authorized the repurchase of up to $200.0 million of its common stock through December 31, 2020. Repurchases may be made 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 Securities Exchange Act of 1934 or by means of one or more tender offers, in each case, as permitted by securities laws and other legal requirements. The amount and timing of the purchases 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. No share repurchases have been made as of the date of issuance of these condensed consolidated financial statements. The share repurchase program may be suspended or discontinued at any time. Common Stock Purchase Warrants As discussed in Note 11, Debt Obligations, on May 19, 2020 and May 27, 2020 (collectively, the “Issuance Date”), in conjunction with the 2020 Term Loan, the Company issued the 2020 Warrants providing the lenders with the right to acquire, subject to anti-dilution adjustments, up to 43.4 million shares of the Company’s common stock in the aggregate. The 2020 Warrants are exercisable in cash or on a cashless basis and expire on May 19, 2023 and are exercisable, in whole or in part, at any time or from time to time after September 19, 2020 at the following prices: approximately 24.6 million shares of common stock at $6.11 per share and approximately 18.9 million shares of common stock at $7.94 per share. The Company recorded the value of the 2020 Term Loan and 2020 Warrants on a relative fair value basis. The 2020 Warrants were valued using a Black-Scholes option valuation model that resulted in a fair value of approximately $53.5 million on the Issuance Date and is not subject to subsequent remeasurement. The Company used the following assumptions in the application of the Black-Scholes option valuation model: an exercise price ranging between $6.11 and $7.94, a term of 3.0 years, a risk-free interest rate of 0.24%, and volatility of 35%. The 2020 Warrants met the definition of derivatives under the guidance in ASC Topic 815, Derivatives and Hedging ; however, because these instruments are determined to be indexed to the Company’s own stock and met the criteria for equity classification under ASC Topic 815, the 2020 Warrants are accounted for as an equity transaction and recorded in Additional paid-in-capital. The 2020 Warrants have a dilutive effect on net income per share to the extent that the market value per share of the Company’s common stock at the time of exercise exceeds the strike price of the 2020 Warrants. The table below summarizes the 2020 Warrants at September 30, 2020: Number of Warrants Weighted Average Exercise Price December 31, 2019 outstanding warrants — $ — Granted 43.4 6.91 Exercised — — Expired — — September 30, 2020 outstanding warrants 43.4 $ 6.91 Option Plan As of September 30, 2020, New Residential’s outstanding options were summarized as follows: Held by the Manager 10,860,706 Issued to the Manager and subsequently assigned to certain of the Manager’s employees 3,560,949 Issued to the independent directors 7,000 Total 14,428,655 The following table summarizes New Residential’s outstanding options as of September 30, 2020. The last sales price on the New York Stock Exchange for New Residential’s common stock in the quarter ended September 30, 2020 was $7.95 per share. Recipient Date of Grant/ Exercise (A) Number of Unexercised Options Weighted Average Exercise Price (B) Intrinsic Value of Exercisable Options as of Directors Various 7,000 7,000 $ 13.57 $ — Manager (C) 2017 1,130,916 1,130,916 13.95 — Manager (C) 2018 5,320,000 4,552,585 16.67 — Manager (C) 2019 6,351,000 3,692,800 16.14 — Manager (C) 2020 1,619,739 377,939 17.41 — Outstanding 14,428,655 9,761,240 (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. A portion of New Residential’s 2018 dividends was deemed to be a return of capital and the exercise prices were adjusted accordingly. (C) The Manager assigned certain of its options to its employees as follows: Date of Grant to Manager Range of Exercise Total Unexercised 2017 $13.95 1,130,916 2018 $16.55 to $18.02 1,159,833 2019 $15.14 to $16.68 1,270,200 Total 3,560,949 The following table summarizes activity in New Residential’s outstanding options: Amount Weighted Average Exercise Price December 31, 2019 outstanding options 12,808,916 Options granted 1,619,739 $ 17.41 Options exercised — — Options expired unexercised — — September 30, 2020 outstanding options 14,428,655 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. The following table summarizes the basic and diluted earnings per share calculations: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Net income (loss) $ 103,920 $ 244,660 $ (1,459,206) $ 375,552 Noncontrolling interests in income of consolidated subsidiaries 11,640 14,738 34,118 31,979 Dividends on preferred stock 14,359 5,338 39,938 5,338 Net income (loss) attributable to common stockholders $ 77,921 $ 224,584 $ (1,533,262) $ 338,235 Basic weighted average shares of common stock outstanding 415,744,518 415,520,780 415,665,441 406,521,273 Dilutive effect of stock options (A) — 67,458 — 150,699 Dilutive effect of common stock purchase warrants (A) 5,224,108 — — — Diluted weighted average shares of common stock outstanding 420,968,626 415,588,238 415,665,441 406,671,972 Basic earnings per share attributable to common stockholders $ 0.19 $ 0.54 $ (3.69) $ 0.83 Diluted earnings per share attributable to common stockholders $ 0.19 $ 0.54 $ (3.69) $ 0.83 (A) Stock options and common stock purchase warrants that could potentially dilute basic earnings per share in the future were not included in the computation of diluted earnings per share for the periods where a loss has been recorded because they would have been anti-dilutive for the period presented. The Company excluded the following weighted-average potential common shares from the calculation of diluted net income (loss) per share during the applicable periods because their inclusion would have been anti-dilutive: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Stock options — $ — — $ — Common stock purchase warrants — — 5,966,141 — Noncontrolling Interests Noncontrolling interests is composed of the interests held by third parties in consolidated entities that hold New Residential’s Servicer advance investments (Note 6), Shelter JVs (Note 8) and Consumer loans (Note 9).

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation — New Residential is or may become, from time to time, 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 business, financial position or results of operations. 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. 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 its experience, New Residential expects the risk of material loss to be remote. Capital Commitments — As of September 30, 2020, New Residential had outstanding capital commitments related to investments in the following investment types (also refer to Note 5 for MSR investment commitments and to Note 19 for additional capital commitments entered into subsequent to September 30, 2020, if any): MSRs and Servicer Advance Investments — New Residential and, in some cases, third-party co-investors agreed to purchase future servicer advances related to certain Non-Agency mortgage loans. In addition, New Residential’s subsidiaries, NRM and NewRez, are generally obligated to fund future servicer advances related to the loans they are obligated to service. 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. Notes 5 and 6 for discussion on New Residential’s Investments in MSRs and Servicer advance investments, respectively. Mortgage Origination Reserves — NewRez, a wholly owned subsidiary of New Residential, currently originates, or has in the past originated, conventional, government-insured and nonconforming residential mortgage loans for sale and securitization. The GSEs or Ginnie Mae guarantee conventional and government insured mortgage securitizations and mortgage investors issue nonconforming private label mortgage securitizations while NewRez generally retains the right to service the underlying residential mortgage loans. In connection with the transfer of loans to the GSEs or mortgage investors, NewRez makes representations and warranties regarding certain attributes of the loans and, subsequent to the sale, if it is determined that a sold loan is in breach of these representations and warranties, NewRez generally has an obligation to cure the breach. If NewRez is unable to cure the breach, the purchaser may require NewRez to repurchase the loan. In addition, as the issuer of Ginnie Mae guaranteed securitizations, NewRez holds the right to repurchase loans that are at least 90 days’ delinquent from the securitizations at its discretion. Loans in forbearance that are three or more consecutive payments delinquent are included as delinquent loans permitted to be repurchased. While NewRez is not obligated to repurchase the delinquent loans, NewRez generally exercises its option to repurchase loans that will result in an economic benefit. As of September 30, 2020, New Residential’s estimated liability associated with representations and warranties and Ginnie Mae repurchases was $9.6 million and $1.5 billion, respectively. See Note 5 for information on NewRez’s right to repurchase delinquent loans from Ginnie Mae securities and mortgage origination. 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. Consumer Loans — The Consumer Loan Companies have invested in loans with an aggregate of $264.2 million of unfunded and available revolving credit privileges as of September 30, 2020. However, under the terms of these loans, requests for draws may be denied and unfunded availability may be terminated at New Residential’s discretion. Leases — New Residential determines if an arrangement is a lease at inception. Operating lease right-of-use (“ROU”) assets and Operating lease liabilities are grouped and presented as part of Other assets and Accrued expenses and other liabilities, respectively, on New Residential’s condensed consolidated balance sheets. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent obligations to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at commencement date based on the net present value of lease payments over the lease term. The majority of New Residential’s lease agreements do not provide an implicit rate. As a result, New Residential used an incremental borrowing rate based on the information available as of the lease commencement dates in determining the present value of lease payments. The operating lease ROU asset reflects any upfront lease payments made as well as lease incentives received. The lease terms may include options to extend or terminate the lease and these are factored into the determination of the ROU asset and lease liability at lease inception when and if it is reasonably certain that New Residential will exercise that option. Lease expense for fixed lease payments is recognized on a straight-line basis over the lease term. New Residential has certain lease agreements with non-lease components such as maintenance and executory costs, which are accounted for separately and not included in ROU assets. ROU assets are tested for impairment whenever changes in facts or circumstances indicate that the carrying amount of an asset may not be recoverable. Modification of a lease term would result in re-measurement of the lease liability and a corresponding adjustment to the ROU asset. New Residential, through its wholly-owned subsidiary, Shellpoint, has leases on office space expiring through 2025. Rent expense, net of sublease income for the three months ended September 30, 2020 and September 30, 2019 totaled $3.3 million and $2.4 million, respectively. Rent expense, net of sublease income for the nine months ended September 30, 2020 and September 30, 2019 totaled $10.1 million and $6.8 million, respectively. The Company has leases that include renewal options and escalation clauses. The terms of the leases do not impose any financial restrictions or covenants. As of September 30, 2020, future commitments under the non-cancelable leases are as follows: Year Ending Amount October 1 through December 31, 2020 $ 3,621 2021 12,428 2022 9,635 2023 5,478 2024 2,759 2025 and thereafter 2,148 Total remaining undiscounted lease payments 36,069 Less: imputed interest 4,168 Total remaining discounted lease payments $ 31,901 The future commitments under the non-cancelable leases have not been reduced by the sublease rentals of $1.3 million due in the future periods. Other information related to operating leases is summarized below: September 30, 2020 December 31, 2019 Weighted-average remaining lease term (years) 3.4 3.9 Weighted-average discount rate 4.5 % 4.5 % Environmental Costs — As a residential real estate owner, New Residential is subject to potential environmental costs. At September 30, 2020, 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 — Certain of the Company’s debt obligations are subject to loan covenants and event of default provisions, including event of default provisions triggered by certain specified declines in New Residential’s equity or a failure to maintain a specified tangible net worth, liquidity, or indebtedness to tangible net worth ratio. Refer to Note 11. Certain Tax-Related Covenants — If New Residential is treated as a successor to Drive Shack Inc. (“Drive Shack”) under applicable U.S. federal income tax rules, and if Drive Shack 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 New Residential’s spin-off from Drive Shack, Drive Shack (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 Drive Shack’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

TRANSACTIONS WITH AFFILIATES AN

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES	9 Months Ended
	Sep. 30, 2020
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 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 (i) the equity transferred by Drive Shack, formerly Newcastle Investment Corp., which was the sole stockholder of New Residential until the spin-off of New Residential completed on May 15, 2013, on the date of the spin-off, (ii) plus total net proceeds from preferred and common stock offerings, plus certain capital contributions to subsidiaries, less capital distributions and repurchases of common stock. In addition, 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 Drive Shack 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 Drive Shack’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. In March 2020, the Company and certain of its subsidiaries sold (collectively, the “Sale”) through a broker-dealer to six purchasers (collectively, “the Purchasers”) of a portfolio consisting of non-agency residential mortgage-backed securities with an aggregate face value of approximately $6.1 billion (the “Securities”). The Sale generated proceeds of approximately $3.3 billion in the aggregate, excluding any unpaid but accrued interest. The Purchasers included an entity affiliated with funds managed by an affiliate of the Manager (the “Fortress Purchaser”), which purchased approximately $1.85 billion of Securities in aggregate face value for approximately $1.0 billion. In connection with the sale of the Securities to the Fortress Purchaser, the Company agreed to exercise certain rights, including call rights, that the Company holds under the securitization transactions with respect to the Securities sold to the Fortress Purchaser solely upon written direction by the Fortress Purchaser. Such rights include the rights, if any, to (i) amend and/or terminate the transactions contemplated by certain related residential mortgage servicing agreements, securitization trust agreements, pooling and servicing agreements or other agreements, (ii) acquire certain of the related residential mortgage loans, real estate owned and certain other assets in the trust subject to such residential mortgage servicing agreements, securitization trust agreements, pooling and servicing agreements or other agreements in connection with such amendment or termination against delivery of the applicable termination payment, and (iii) if applicable, direct certain related servicers, holders of subordinate securities and/or other applicable parties, to exercise the rights in (i) and (ii). Pursuant to such agreement, the Company and the Fortress Purchaser would share equally in any profits or losses arising from the exercise of any such rights, other than if the Company elects not to participate in the related transaction, in which case the Fortress Purchaser would realize all of the profits and bear all of the losses with respect thereto. On May 19, 2020, the Company entered into a three Due to affiliates is composed of the following amounts: September 30, 2020 December 31, 2019 Management fees $ 7,499 $ 7,076 Incentive compensation — 91,892 Expense reimbursements and other 2,046 4,914 Total $ 9,545 $ 103,882 Affiliate expenses and fees were composed of: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Management fees $ 22,482 $ 20,678 $ 66,682 $ 58,261 Incentive compensation — 36,307 — 49,265 Expense reimbursements (A) 125 125 375 375 Total $ 22,607 $ 57,110 $ 67,057 $ 107,901 (A) Included in General and administrative expenses in the condensed consolidated statements of income. See Note 4 regarding co-investments with Fortress-managed funds. See Note 14 regarding options granted to the Manager.

RECLASSIFICATION FROM ACCUMULAT

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME	9 Months Ended
	Sep. 30, 2020
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: Three Months Ended Nine Months Ended Accumulated Other Comprehensive Income Components Statement of Income Location 2020 2019 2020 2019 Reclassification of net realized (gain) loss on securities into earnings Gain (loss) on settlement of investments, net $ 7,658 $ (95,003) $ (753,551) $ (201,222) Reclassification of net realized (gain) loss on securities into earnings Provision (reversal) for credit losses on securities (3,849) 5,567 15,166 21,942 Total reclassifications $ 3,809 $ (89,436) $ (738,385) $ (179,280) 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, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax expense (benefit) consists of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Current: Federal $ — $ 1,198 $ (7,877) $ 785 State and local 1,438 14 1,496 115 Total current income tax expense (benefit) 1,438 1,212 (6,381) 900 Deferred: Federal 77,300 (5,385) (29,921) 14,762 State and local 22,074 (1,267) (12,345) 3,318 Total deferred income tax expense (benefit) 99,374 (6,652) (42,266) 18,080 Total income tax expense (benefit) $ 100,812 $ (5,440) $ (48,647) $ 18,980 New Residential intends to qualify as a REIT for each of its tax years through December 31, 2020. 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 business segments, including servicing, origination, and MSR related investments, 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. Refer to Note 3 (Segment Reporting) for further details. New Residential has recorded a net deferred tax asset of approximately $49.5 million as of September 30, 2020, primarily related to unrealized losses and net operating loss carry forwards. On March 27, 2020, the CARES Act was signed into law. The CARES Act provides economic relief to eligible businesses and individuals impacted by the COVID-19 pandemic and includes numerous tax provisions, such as the ability to carryback net operating losses to prior tax years. Pursuant to this new legislation, the Company filed a claim to carryback $23 million of net operating losses, resulting in a net tax benefit of $3 million. The Company is continuing to monitor and evaluate the impact of the CARES Act and other COVID-19-related legislation.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS These financial statements include a discussion of material events that have occurred subsequent to September 30, 2020 through the issuance of these condensed consolidated financial statements. Events subsequent to that date have not been considered in these financial statements.

ORGANIZATION AND BASIS OF PRE_2

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Income Taxes	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 18, Income Taxes, for additional information regarding New Residential’s taxable REIT subsidiaries.
Segment Reporting	As of September 30, 2020, New Residential conducted its business through the following segments: (i) Origination, (ii) Servicing, (iii) MSR Related Investments, (iv) Residential Securities and Loans, (v) Consumer Loans and (vi) Corporate.
Interim Financial Statements	The accompanying condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP’’ or “US GAAP”). 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 consolidated financial statements include the accounts of New Residential and its consolidated subsidiaries. All significant intercompany transactions and balances have been eliminated. New Residential consolidates those entities in which it has control over significant operating, financing and investing decisions of the entity, as well as those entities deemed to be variable interest entities (“VIEs”) in which New Residential is determined to be the primary beneficiary. For entities over which New Residential exercises significant influence, but which do not meet the requirements for consolidation, New Residential uses the equity method of accounting whereby it records its share of the underlying income of such entities. Distributions from equity method investees are classified in the condensed consolidated statements of cash flows based on the cumulative earnings approach, where all distributions up to cumulative earnings are classified as distributions of earnings. Beginning in the second quarter of 2020, the Company changed its presentation of certain balance sheet and income statement line items to better reflect changes in the business and how the Company is viewed and managed. As a result, the presentation of certain prior period amounts have been reclassified to be consistent with the current period presentation. Such reclassifications had no impact on net income, total assets, total liabilities, or stockholders’ equity.
Use of Estimates	In March 2020, the World Health Organization declared a pandemic related to the rapidly spreading coronavirus (“COVID-19”) outbreak, which has led to a global health emergency. In response to this outbreak, the governments of many countries have taken preventive and protective actions, such as restricting travel and business operations. Financial markets have also experienced extreme volatility and disruptions to capital and credit markets. As a result, economic uncertainties have arisen which have impacted and could continue to impact the Company’s operations and its financial position. The extent of the impact of COVID-19 on the Company’s operational and financial performance will depend on certain developments, including the duration and spread of the outbreak, regulatory and private sector responses, and the impact on the Company’s customers, workforce, and vendors, all of which are uncertain and cannot be predicted. The Company believes the estimates and assumptions underlying its condensed consolidated financial statements are reasonable and supportable based on the information available as of September 30, 2020; however, uncertainty over the ultimate impact COVID-19 will have on the global economy generally, and the Company’s business in particular, makes any estimates and assumptions as of September 30, 2020 inherently less certain than they would be absent the current and potential impacts of COVID-19. Actual results may materially differ from those estimates.
Recent Accounting Pronouncements	In June 2016, the FASB issued ASU 2016-13 Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments (“CECL”) . 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 collectability of the reported amount. The standard also changes the accounting for purchased credit deteriorated assets and available-for-sale securities, which requires the recognition of credit losses through a valuation allowance when fair value is less than amortized cost, regardless of whether the impairment is considered to be other-than-temporary. The standard provides an option to elect the fair value option for certain investments as an alternative to adopting ASU 2016-13. Lastly, an entity is required to apply ASU 2016-13 using the modified retrospective approach which requires a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The standard was effective for New Residential in the first quarter of 2020. Upon adoption of the standard, New Residential elected the fair value option on its held for investment residential mortgage and consumer loans portfolios. As a result, the Company recognized a positive adjustment of $13.7 million to retained earnings, composed of a $19.7 million increase attributable to the change in the fair value of consumer loans, net of noncontrolling interests, partially offset by a $6.0 million decrease attributable to the change in fair value of residential mortgage loans. For servicer advance receivables, the Company determined credit-related losses are not significant because of the contractual relationships with the agencies. For other assets, primarily trade receivables, the Company determined that these are short-term in nature (less than one year), and the estimated credit-related losses over the life of these receivables are not significant. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) . The standard: (i) adds incremental requirements for entities to disclose (a) the amount of total gains or losses for the period recognized in other comprehensive income that is attributable to fair value changes in assets and liabilities held as of the balance sheet date and categorized within Level 3 of the fair value hierarchy, (b) the range and weighted average used to develop significant unobservable inputs and (c) how the weighted average was calculated for fair value measurements categorized within Level 3 of the fair value hierarchy and (ii) eliminates disclosure requirements for (a) transfers between Level 1 and Level 2 and (b) valuation processes for Level 3 fair value measurements. ASU 2018-13 was effective for New Residential in the first quarter of 2020. The adoption of ASU 2018-13 did not have a material impact on the condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The standard was issued to ease the accounting effects of reform to the London Interbank Offered Rate (“LIBOR”) and other reference rates. The standard provides optional expedients and exceptions for applying GAAP to debt, derivatives, and other contracts affected by reference rate reform. The standard is effective for all entities as of March 12, 2020 through December 31, 2022 and may be elected over time as reference rate reform activities occur. The Company is currently evaluating the impact the adoption of this standard would have on its condensed consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt–Debt with Conversion and Other Options (Topic 470) and Derivatives and Hedging–Contracts in Entity’s Own Equity (Topic 815) . The standard simplifies the accounting for convertible instruments by reducing the number of accounting models. A convertible debt instrument will generally be reported as a single liability at its amortized cost with no separate accounting for embedded conversion features. The standard also amends the accounting for certain contracts in an entity’s own equity that are currently accounted for as derivatives because of specific settlement provisions. In addition, the new guidance eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. ASU 2020-16 is effective for New Residential beginning in the first quarter of 2022 with early adoption permitted beginning in 2021. The Company is currently evaluating the impact the adoption of this standard would have on its condensed consolidated financial statements.
Secured Financing Agreement	The Company finances the acquisition of certain assets within its investment portfolio using secured financing agreements, including repurchase agreements and warehouse credit facilities. Repurchase agreements and warehouse credit facilities are treated as collateralized financing transactions and carried at their contractual amounts, including accrued interest, as specified in the respective agreements. The carrying amount of the Company’s secured financing agreements and warehouse credit facilities approximates fair value. The Company pledges certain securities, loans or other assets as collateral under secured financing agreements and warehouse credit facilities with financial institutions, the terms and conditions of which are negotiated on a transaction-by-transaction basis. The amounts available to be borrowed under repurchase agreements and warehouse credit facilities are dependent upon the fair value of the securities, or loans pledged as collateral, which can fluctuate with changes in interest rates, type of security and liquidity conditions within the banking, mortgage finance and real estate industries.

OTHER INCOME (LOSS), GENERAL _2

OTHER INCOME (LOSS), GENERAL AND ADMINISTRATIVE, OTHER ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Other Income Assets And Liabilities
Schedule of Change in Fair Value of Investments	Change in fair value of investments — This item is composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Excess mortgage servicing rights $ (664) $ 2,407 $ (11,773) $ (1,421) Excess mortgage servicing rights, equity method investees (393) 4,751 (2,902) 4,087 Mortgage servicing rights financing receivables (20,275) (41,410) (245,906) (133,200) Servicer advance investments 3,143 6,641 431 15,932 Real estate and other securities 27,663 (5,054) (531) 9,010 Residential mortgage loans 56,940 (6,512) (108,306) 75,095 Consumer loans held-for-investment (411) — (9,634) — Derivative instruments 23,089 41,389 4,213 (25,037) $ 89,092 $ 2,212 $ (374,408) $ (55,534)
Schedule of Gain (Loss) on Settlement of Investments	This item is composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Gain (loss) on sale of real estate securities $ 7,658 $ 95,003 $ (753,551) $ 201,222 Gain (loss) on sale of acquired residential mortgage loans 923 43,648 (8,343) 53,405 Gain (loss) on settlement of derivatives (23,192) (14,147) (133,099) (152,424) Gain (loss) on liquidated residential mortgage loans 165 (198) 2,546 (3,320) Gain (loss) on sale of REO 1,016 (3,169) 2,632 (9,445) Gain (loss) on extinguishment of debt (66,256) — (64,795) (8,532) Gain (loss) on Excess MSR recapture agreements (13,381) 529 (12,191) 1,771 Other gains (losses) (1,390) 12,004 (2,194) 13,708 $ (94,457) $ 133,670 $ (968,995) $ 96,385
Schedule of Other Income	This item is composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Unrealized gain (loss) on secured notes and bonds payable $ (5,611) $ (2,647) $ 535 $ (5,248) Unrealized gain (loss) on contingent consideration (2,079) (2,703) (5,949) (7,430) Unrealized gain (loss) on equity investments (4,716) (500) (52,413) (659) Gain (loss) on transfer of loans to REO 703 1,230 5,010 7,814 Gain (loss) on transfer of loans to other assets (512) (101) (773) (378) Gain (loss) on Ocwen common stock 4,342 (1,103) 221 3,134 Provision for servicing losses (3,734) 25 (19,764) (901) Rental and ancillary revenue 23,670 — 63,346 — Other income (loss) (6,678) (24,896) (24,848) (23,566) $ 5,385 $ (30,695) $ (34,635) $ (27,234)
Schedule of General and Administrative Expenses	General and Administrative Expenses is composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Compensation and benefits expense $ 68,595 $ 30,494 $ 179,434 $ 87,219 Compensation and benefits expense, origination 98,542 44,270 232,968 112,977 Legal and professional expense 22,209 16,442 63,798 46,352 Loan origination expense 29,935 17,882 75,970 42,349 Occupancy expense 9,356 5,114 26,195 14,079 Subservicing expense 55,376 52,875 159,679 147,763 Loan servicing expense 8,311 7,192 23,313 26,167 Other (A) 24,236 19,311 98,244 48,383 $ 316,560 $ 193,580 $ 859,601 $ 525,289 (A) Represents miscellaneous general and administrative expenses.
Schedule of Other Assets and Liabilities	Other assets and liabilities are composed of the following: Other Assets Accrued Expenses September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 Margin receivable, net (A) $ 48,050 $ 280,176 MSR purchase price holdback $ 31,167 $ 75,348 Servicing fee receivables 113,994 159,607 Interest payable 33,195 68,668 Due from servicers 92,500 163,961 Accounts payable 120,116 119,771 Principal and interest receivable 64,391 85,191 Derivative liabilities (Note 10) 37,820 6,885 Equity investments (B) 59,771 114,763 Due to servicers 65,212 85,728 Other receivables 109,530 117,045 Due to Agencies 25,659 42,118 Real Estate Owned 49,872 93,672 Contingent Consideration 13,628 55,222 Single-family rental properties 25,570 24,133 Accrued compensation and benefits 71,184 41,228 Goodwill (C) 29,468 29,737 Excess spread financing, at fair value 20,129 31,777 Notes Receivable (D) 50,516 37,001 Operating lease liabilities 31,901 38,520 Warrants, at fair value 22,799 28,042 Reserve for sales recourse 9,624 12,549 Recovery asset 15,310 23,100 Reserve for servicing losses 19,657 — Property and equipment 27,279 18,018 Other liabilities 18,546 22,976 Receivable from government agency (E) 16,823 19,670 $ 497,838 $ 600,790 Intangible assets 35,074 40,963 Prepaid expenses 21,757 19,249 Operating lease right-of-use assets 27,218 32,120 Derivative assets (Note 10) 255,496 41,501 Ocwen common stock, at fair value 8,172 7,952 Deferred tax asset, net 49,545 8,669 Other assets 38,798 51,230 $ 1,161,933 $ 1,395,800 (A) Represents collateral posted as a result of changes in fair value of our 1) real estate securities securing our secured financing agreements and 2) derivative instruments. (B) Represents equity investments in funds that invest in 1) a commercial redevelopment project, 2) operating companies in the single-family housing industry. The indirect investments are accounted for at fair value based on the net asset value (“NAV”) of New Residential’s investment and as an equity method investment, respectively. Equity investments also includes an investment in Covius Holding Inc. (“Covius”), a provider of various technology-enabled services to the mortgage and real estate industries. (C) Includes goodwill derived from the acquisition of Shellpoint Partners LLC (“Shellpoint”) and DGG RE Investments d/b/a Guardian Asset Management LLC (“Guardian”). (D) Represents a subordinated debt facility to Covius. (E) Represents claims receivable from the FHA on early buyout (“EBO”) and reverse mortgage loans for which foreclosure has been completed and for which New Residential has made or intends to make a claim on the FHA guarantee.
Schedule of Accretion and Other Amortization	As reflected on the condensed consolidated statements of cash flows, this item is composed of the following: Nine Months Ended 2020 2019 Accretion of net discount on securities and loans $ 81,112 $ 266,467 Accretion of servicer advances receivable discount and servicer advance investments 38,967 18,290 Accretion of excess mortgage servicing rights income 25,177 18,203 Amortization of deferred financing costs (12,352) (2,984) Amortization of discount on secured notes and bonds payable (379) (1,043) Amortization of discount on term loan (5,069) — $ 127,456 $ 298,933
Schedule of Real Estate Owned	Real Estate Owned Balance at December 31, 2019 $ 93,672 Purchases 3,910 Transfer of loans to REO 31,764 Sales (A) (82,100) Valuation (provision) reversal on REO 2,626 Balance at September 30, 2020 $ 49,872 (A) Recognized when control of the property has transferred to the buyer.

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2020
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 and Origination Residential Securities and Loans Origination Servicing MSR Related Investments Elimination (A) Total Servicing and Origination Real Estate Securities Residential Mortgage Loans Consumer Loans Corporate Total Three Months Ended September 30, 2020 Interest income $ 17,407 $ 373 $ 91,576 $ — $ 109,356 $ 61,034 $ 33,913 $ 29,545 $ — $ 233,848 Servicing revenue, net (3,767) 111,420 (80,987) (70,595) (43,929) — — — — (43,929) Gain on originated mortgage loans, held-for-sale, net 445,578 346 10,184 38,990 495,098 — — — — 495,098 Total revenues 459,218 112,139 20,773 (31,605) 560,525 61,034 33,913 29,545 — 685,017 Interest expense 10,977 90 59,650 — 70,717 15,652 19,326 5,809 19,024 130,528 G&A and other 136,086 81,767 149,426 (70,595) 296,684 930 10,361 3,361 27,706 339,042 Total operating expenses 147,063 81,857 209,076 (70,595) 367,401 16,582 29,687 9,170 46,730 469,570 Other income (loss) 123 — (19,753) — (19,630) 36,941 44,699 (5,240) (56,750) 20 Impairment — — 218 — 218 (3,849) 14,366 — — 10,735 Income (loss) before income taxes (B) 312,278 30,282 (208,274) 38,990 173,276 85,242 34,559 15,135 (103,480) 204,732 Income tax expense (benefit) 71,304 6,044 15,682 — 93,030 — 7,783 (1) — 100,812 Net income (loss) $ 240,974 $ 24,238 $ (223,956) $ 38,990 $ 80,246 $ 85,242 $ 26,776 $ 15,136 $ (103,480) $ 103,920 Noncontrolling interests in income (loss) of consolidated subsidiaries $ 4,840 $ — $ 2,612 $ — $ 7,452 $ — $ — $ 4,188 $ — $ 11,640 Dividends on preferred stock $ — $ — $ — $ — $ — $ — $ — $ — $ 14,359 $ 14,359 Net income (loss) attributable to common stockholders $ 236,134 $ 24,238 $ (226,568) $ 38,990 $ 72,794 $ 85,242 $ 26,776 $ 10,948 $ (117,839) $ 77,921 Servicing and Origination Residential Securities and Loans Origination Servicing MSR Related Investments Elimination (A) Total Servicing and Origination Real Estate Securities Residential Mortgage Loans Consumer Loans Corporate Total Nine Months Ended September 30, 2020 Interest income $ 43,105 $ 8,975 $ 299,315 $ — $ 351,395 $ 278,702 $ 141,118 $ 97,204 $ — $ 868,419 Servicing revenue, net (6,843) 295,047 (591,004) (156,513) (459,313) — — — — (459,313) Gain on originated mortgage loans, held-for-sale, net 885,730 948 65,424 26,054 978,156 — 6,662 — — 984,818 Total revenues 921,992 304,970 (226,265) (130,459) 870,238 278,702 147,780 97,204 — 1,393,924 Interest expense 30,071 397 178,027 — 208,495 141,340 67,570 18,691 27,690 463,786 G&A and other 338,760 220,026 374,868 (156,513) 777,141 8,128 46,395 10,947 83,672 926,283 Total operating expenses 368,831 220,423 552,895 (156,513) 985,636 149,468 113,965 29,638 111,362 1,390,069 Other income (loss) 497 499 (267,351) — (266,355) (881,261) (110,896) (16,007) (103,519) (1,378,038) Impairment — — 127 — 127 15,166 118,377 — — 133,670 Income (loss) before income taxes (B) 553,658 85,046 (1,046,638) 26,054 (381,880) (767,193) (195,458) 51,559 (214,881) (1,507,853) Income tax expense (benefit) 138,304 21,244 (143,824) — 15,724 — (64,501) 130 — (48,647) Net income (loss) $ 415,354 $ 63,802 $ (902,814) $ 26,054 $ (397,604) $ (767,193) $ (130,957) $ 51,429 $ (214,881) $ (1,459,206) Noncontrolling interests in income (loss) of consolidated subsidiaries $ 10,542 $ — $ (44) $ — $ 10,498 $ — $ — $ 23,620 $ — $ 34,118 Dividends on preferred stock $ — $ — $ — $ — $ — $ — $ — $ — $ 39,938 $ 39,938 Net income (loss) attributable to common stockholders $ 404,812 $ 63,802 $ (902,770) $ 26,054 $ (408,102) $ (767,193) $ (130,957) $ 27,809 $ (254,819) $ (1,533,262) Servicing and Origination Residential Securities and Loans Origination Servicing MSR Related Investments Elimination (A) Total Servicing and Origination Real Estate Securities Residential Mortgage Loans Consumer Loans Corporate Total September 30, 2020 Investments $ 2,843,720 $ — $ 5,753,366 $ — $ 8,597,086 $ 10,830,067 $ 2,887,350 $ 722,108 $ — $ 23,036,611 Cash and cash equivalents 99,321 50,942 406,965 — 557,228 160,764 4,681 7,195 111,154 841,022 Restricted cash 3,929 32,369 102,166 — 138,464 12,723 — 29,367 — 180,554 Other assets 369,988 191,398 4,466,009 — 5,027,395 1,005,847 193,394 59,968 32,105 6,318,709 Goodwill 11,836 12,540 5,092 — 29,468 — — — — 29,468 Total assets $ 3,328,794 $ 287,249 $ 10,733,598 $ — $ 14,349,641 $ 12,009,401 $ 3,085,425 $ 818,638 $ 143,259 $ 30,406,364 Debt $ 2,612,817 $ 6,669 $ 5,980,900 $ — $ 8,600,386 $ 10,877,414 $ 2,241,607 $ 681,109 $ 541,758 $ 22,942,274 Other liabilities 165,022 63,657 1,661,193 — 1,889,872 9,633 45,696 5,425 84,833 2,035,459 Total liabilities 2,777,839 70,326 7,642,093 — 10,490,258 10,887,047 2,287,303 686,534 626,591 24,977,733 Total equity 550,955 216,923 3,091,505 — 3,859,383 1,122,354 798,122 132,104 (483,332) 5,428,631 Noncontrolling interests in equity of consolidated subsidiaries 18,365 — 42,946 — 61,311 — — 38,126 — 99,437 Total New Residential stockholders’ equity $ 532,590 $ 216,923 $ 3,048,559 $ — $ 3,798,072 $ 1,122,354 $ 798,122 $ 93,978 $ (483,332) $ 5,329,194 Investments in equity method investees $ — $ — $ 139,351 $ — $ 139,351 $ — $ — $ — $ — $ 139,351 Servicing and Origination Residential Securities and Loans Origination Servicing MSR Related Investments Elimination (A) Total Servicing and Origination Real Estate Securities Residential Mortgage Loans Consumer Loans Corporate Total Three Months Ended September 30, 2019 Interest income $ 10,880 $ 8,847 $ 129,350 $ — $ 149,077 $ 184,933 $ 73,786 $ 40,331 $ — $ 448,127 Servicing revenue, net (548) 54,646 18,588 (19,636) 53,050 — — — — 53,050 Gain on originated mortgage loans, held-for-sale, net 104,126 348 15,554 (14,892) 105,136 — 21,611 — — 126,747 Total revenues 114,458 63,841 163,492 (34,528) 307,263 184,933 95,397 40,331 — 627,924 Interest expense 10,359 264 59,056 — 69,679 123,023 45,707 7,493 — 245,902 G&A and other 67,708 41,850 80,522 (19,636) 170,444 1,839 11,662 3,965 62,655 250,565 Total operating expenses 78,067 42,114 139,578 (19,636) 240,123 124,862 57,369 11,458 62,655 496,467 Other income (loss) (149) — (42,993) — (43,142) 116,081 33,541 (2,651) (1,189) 102,640 Impairment — — — — — 5,567 (16,553) 5,863 — (5,123) Income (loss) before income taxes (B) 36,242 21,727 (19,079) (14,892) 23,998 170,585 88,122 20,359 (63,844) 239,220 Income tax expense (benefit) 9,674 5,799 (4,724) — 10,749 — (15,546) (643) — (5,440) Net income (loss) $ 26,568 $ 15,928 $ (14,355) $ (14,892) $ 13,249 $ 170,585 $ 103,668 $ 21,002 $ (63,844) $ 244,660 Noncontrolling interests in income (loss) of consolidated subsidiaries $ 2,457 $ — $ 1,684 $ — $ 4,141 $ — $ — $ 10,597 $ — $ 14,738 Dividends on Preferred Stock $ — $ — $ — $ — $ — $ — $ — $ — $ 5,338 $ 5,338 Net income (loss) attributable to common stockholders $ 24,111 $ 15,928 $ (16,039) $ (14,892) $ 9,108 $ 170,585 $ 103,668 $ 10,405 $ (69,182) $ 224,584 Servicing and Origination Residential Securities and Loans Origination Servicing MSR Related Investments Elimination (A) Total Servicing and Origination Real Estate Securities Residential Mortgage Loans Consumer Loans Corporate Total Nine Months Ended September 30, 2019 Interest income $ 25,744 $ 23,181 $ 379,368 $ — $ 428,293 $ 557,895 $ 188,278 $ 128,575 $ — $ 1,303,041 Servicing revenue, net (1,215) 146,730 34,400 (46,549) 133,366 — — — — 133,366 Gain on originated mortgage loans, held-for-sale, net 228,881 681 37,169 (34,195) 232,536 — 62,399 — — 294,935 Total revenues 253,410 170,592 450,937 (80,744) 794,195 557,895 250,677 128,575 — 1,731,342 Interest expense 24,012 737 183,299 — 208,048 330,992 122,180 25,518 — 686,738 G&A and other 169,980 118,329 217,860 (46,549) 459,620 4,124 28,945 18,396 121,730 632,815 Total operating expenses 193,992 119,066 401,159 (46,549) 667,668 335,116 151,125 43,914 121,730 1,319,553 Other income (loss) 808 — (132,193) — (131,385) 31,677 118,244 (10,324) 4,515 12,727 Impairment — — — — — 21,942 (16,557) 24,599 — 29,984 Income (loss) before income taxes (B) 60,226 51,526 (82,415) (34,195) (4,858) 232,514 234,353 49,738 (117,215) 394,532 Income tax expense (benefit) 16,075 13,753 (21,354) — 8,474 — 11,048 (542) — 18,980 Net income (loss) $ 44,151 $ 37,773 $ (61,061) $ (34,195) $ (13,332) $ 232,514 $ 223,305 $ 50,280 $ (117,215) $ 375,552 Noncontrolling interests in income (loss) of consolidated subsidiaries $ 4,407 $ — $ 4,466 $ — $ 8,873 $ — $ — $ 23,106 $ — $ 31,979 Dividends on Preferred Stock $ — $ — $ — $ — $ — $ — $ — $ — $ 5,338 $ 5,338 Net income (loss) attributable to common stockholders $ 39,744 $ 37,773 $ (65,527) $ (34,195) $ (22,205) $ 232,514 $ 223,305 $ 27,174 $ (122,553) $ 338,235 (A) Elimination of intercompany transactions primarily relate to servicing fees, loan sales, and MSR recaptures. (B) Beginning in the third quarter of 2020, New Residential revised its methodology of allocating tax expense within the Servicing and Origination segments. Specifically, taxes are now allocated based on intercompany agreements rather than based on a more general pro rata approach, which better reflects the operating performance of each respective segment. The revised methodology has been applied consistently for all periods presented.

INVESTMENTS IN EXCESS MORTGAG_2

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS (Tables)	9 Months Ended
	Sep. 30, 2020
Transfers and Servicing [Abstract]
Schedule of Activity Related to the Carrying Value of Investments in Excess MSRs	The table below summarizes the components of excess mortgage servicing rights assets as presented on the condensed consolidated balance sheets: September 30, 2020 December 31, 2019 Direct investments in Excess MSRs $ 328,623 $ 379,747 Excess MSR Joint Ventures 107,359 125,596 Excess mortgage servicing rights assets, at fair value $ 435,982 $ 505,343 The following table presents activity related to the carrying value of New Residential’s direct investments in Excess MSRs: Servicer Mr. Cooper SLS (A) Total Balance as of December 31, 2019 $ 377,692 $ 2,055 $ 379,747 Interest income 25,167 9 25,176 Other income (12,175) — (12,175) Proceeds from repayments (51,980) (311) (52,291) Proceeds from sales (61) — (61) Change in fair value (11,939) 166 (11,773) Balance as of September 30, 2020 $ 326,704 $ 1,919 $ 328,623 (A) Specialized Loan Servicing LLC (“SLS”). The following table presents activity related to the carrying value of New Residential’s investments in MSRs and MSR Financing Receivables: MSRs MSR Financing Receivables Total Balance as of December 31, 2019 $ 3,967,960 $ 1,718,273 $ 5,686,233 Purchases, net (A) 446,964 (18,227) 428,737 Transfers 320,613 (320,613) — Originations (B) 424,451 — 424,451 Proceeds from sales (10,452) (3,708) (14,160) Amortization of servicing rights (C) (959,482) (182,085) (1,141,567) Change in valuation inputs and assumptions (D) (542,361) (62,072) (604,433) (Gain) loss realized 4,112 (1,749) 2,363 Balance as of September 30, 2020 $ 3,651,805 $ 1,129,819 $ 4,781,624 (A) Net of purchase price adjustments and purchase price fully reimbursable from MSR sellers as a result of prepayment protection. (B) Represents MSRs retained on the sale of originated mortgage loans. (C) Based on the ratio of the current UPB of the underlying residential mortgage loans relative to the original UPB of the underlying residential mortgage loans. (D) Includes changes in inputs or assumptions used in the valuation model. The following is a summary of New Residential’s investments in MSRs and MSR Financing Receivables as of September 30, 2020: UPB of Underlying Mortgages Weighted Average Life (Years) (A) Carrying Value (B) MSRs: Agency (C) $ 323,473,921 5.4 $ 3,012,602 Non-Agency 5,605,074 4.5 16,598 Ginnie Mae (D) 57,290,646 4.3 622,605 386,369,641 5.2 3,651,805 MSR Financing Receivables: Agency (C) 6,159,819 5.6 57,410 Non-Agency 69,089,988 7.8 1,072,409 75,249,807 7.6 1,129,819 Total $ 461,619,448 5.6 $ 4,781,624 (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) Carrying value represents fair value. As of September 30, 2020, weighted average discount rates of 7.7% and 9.4% were used to value New Residential’s investments in MSRs and MSR financing receivables, respectively. (C) Represents Fannie Mae and Freddie Mac MSRs.
Summary of Direct Investments in Excess MSRs	The following is a summary of New Residential’s direct investments in Excess MSRs: September 30, 2020 December 31, 2019 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 Mr. Cooper Agency Original and Recaptured Pools $ 37,356,300 32.5% - 66.7% (53.3%) 0.0% - 40% 20.0% - 35.0% 5.8 $ 150,403 $ 173,549 $ 209,633 Non-Agency (E) Mr. Cooper and SLS Serviced: Original and Recaptured Pools 39,995,269 33.3% - 100.0% (59.4%) 0.0% - 50% 0.0% - 33.3% 6.6 113,724 155,074 170,114 Total $ 77,351,569 6.1 $ 264,127 $ 328,623 $ 379,747 (A) 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 and recapture agreements, as applicable. (D) Amounts in parentheses represent weighted averages. (E) New Residential is also invested in related Servicer Advance Investments, including the basic fee component of the related MSR as of September 30, 2020 (Note 6) on $27.5 billion UPB underlying these Excess MSRs. Changes in fair value of investments is composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Original and Recaptured Pools $ (664) $ 2,407 $ (11,773) $ (1,421)
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, 2020 December 31, 2019 Excess MSR assets $ 190,246 $ 226,843 Other assets 25,158 25,035 Other liabilities (687) (687) Equity $ 214,717 $ 251,191 New Residential’s investment $ 107,359 $ 125,596 New Residential’s ownership 50.0 % 50.0 % Three Months Ended Nine Months Ended 2020 2019 2020 2019 Interest income $ 12,249 $ 7,990 $ 20,099 $ 12,251 Other income (loss) (13,027) 1,528 (25,879) (4,029) Expenses (8) (16) (24) (48) Net income (loss) $ (786) $ 9,502 $ (5,804) $ 8,174 The following table summarizes the activity of New Residential’s investments in equity method investees: Balance at December 31, 2019 $ 125,596 Distributions of earnings from equity method investees (1,170) Distributions of capital from equity method investees (14,165) Change in fair value of investments in equity method investees (2,902) Balance at September 30, 2020 $ 107,359 The following table summarizes the income earned from the Company’s investments in LoanCo and WarrantCo during 2019: Three Months Ended September 30, 2019 (A) Nine Months Ended September 30, 2019 (A) Interest income $ 636 $ 20,003 Interest expense — (6,487) Change in fair value of consumer loans and warrants (2,933) (4,390) Gain on sale of consumer loans (7,525) (9,193) Other expenses (576) (3,494) Net income $ (10,398) $ (3,561) New Residential’s equity in net income $ (2,547) $ (890) New Residential’s ownership 24.5 % 25.0 % (A) Data for the period ended August 31, 2019 as a result of the one month reporting lag. The following is a summary of LoanCo’s consumer loan investments at September 30, 2019: Unpaid Principal Balance Interest in Consumer Loans Carrying Value Weighted Average Coupon Weighted Average Expected Life (Years) (A) Weighted Average Delinquency (B) September 30, 2019 (C) $ 1,226 25.0 % $ 1,632 18.7 % 1.0 — % (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) 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. (C) Data as of August 31, 2019 as a result of the one month reporting lag.
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, 2020 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 $ 30,232,940 66.7 % 50.0 % $ 146,014 $ 190,246 5.7 (A) The remaining interests are held by Mr. Cooper. (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 and recapture agreements, as applicable. (D) Represents the weighted average expected timing of the receipt of cash flows of each investment.

INVESTMENTS IN MORTGAGE SERVI_2

INVESTMENTS IN MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES (Tables)	9 Months Ended
	Sep. 30, 2020
Transfers and Servicing of Financial Assets [Abstract]
Schedule of Activity Related to the Carrying Value of Investments in Excess MSRs	The table below summarizes the components of excess mortgage servicing rights assets as presented on the condensed consolidated balance sheets: September 30, 2020 December 31, 2019 Direct investments in Excess MSRs $ 328,623 $ 379,747 Excess MSR Joint Ventures 107,359 125,596 Excess mortgage servicing rights assets, at fair value $ 435,982 $ 505,343 The following table presents activity related to the carrying value of New Residential’s direct investments in Excess MSRs: Servicer Mr. Cooper SLS (A) Total Balance as of December 31, 2019 $ 377,692 $ 2,055 $ 379,747 Interest income 25,167 9 25,176 Other income (12,175) — (12,175) Proceeds from repayments (51,980) (311) (52,291) Proceeds from sales (61) — (61) Change in fair value (11,939) 166 (11,773) Balance as of September 30, 2020 $ 326,704 $ 1,919 $ 328,623 (A) Specialized Loan Servicing LLC (“SLS”). The following table presents activity related to the carrying value of New Residential’s investments in MSRs and MSR Financing Receivables: MSRs MSR Financing Receivables Total Balance as of December 31, 2019 $ 3,967,960 $ 1,718,273 $ 5,686,233 Purchases, net (A) 446,964 (18,227) 428,737 Transfers 320,613 (320,613) — Originations (B) 424,451 — 424,451 Proceeds from sales (10,452) (3,708) (14,160) Amortization of servicing rights (C) (959,482) (182,085) (1,141,567) Change in valuation inputs and assumptions (D) (542,361) (62,072) (604,433) (Gain) loss realized 4,112 (1,749) 2,363 Balance as of September 30, 2020 $ 3,651,805 $ 1,129,819 $ 4,781,624 (A) Net of purchase price adjustments and purchase price fully reimbursable from MSR sellers as a result of prepayment protection. (B) Represents MSRs retained on the sale of originated mortgage loans. (C) Based on the ratio of the current UPB of the underlying residential mortgage loans relative to the original UPB of the underlying residential mortgage loans. (D) Includes changes in inputs or assumptions used in the valuation model. The following is a summary of New Residential’s investments in MSRs and MSR Financing Receivables as of September 30, 2020: UPB of Underlying Mortgages Weighted Average Life (Years) (A) Carrying Value (B) MSRs: Agency (C) $ 323,473,921 5.4 $ 3,012,602 Non-Agency 5,605,074 4.5 16,598 Ginnie Mae (D) 57,290,646 4.3 622,605 386,369,641 5.2 3,651,805 MSR Financing Receivables: Agency (C) 6,159,819 5.6 57,410 Non-Agency 69,089,988 7.8 1,072,409 75,249,807 7.6 1,129,819 Total $ 461,619,448 5.6 $ 4,781,624 (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) Carrying value represents fair value. As of September 30, 2020, weighted average discount rates of 7.7% and 9.4% were used to value New Residential’s investments in MSRs and MSR financing receivables, respectively. (C) Represents Fannie Mae and Freddie Mac MSRs.
Fees Earned in Exchange for Servicing Financial Assets	Servicing revenue, net recognized by New Residential related to its investments in MSRs was composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Servicing fee revenue $ 320,880 $ 222,966 $ 945,568 $ 602,241 Ancillary and other fees 30,255 58,489 80,591 151,039 Servicing fee revenue and fees 351,135 281,455 1,026,159 753,280 Amortization of servicing rights (473,490) (168,776) (953,430) (346,772) Change in valuation inputs and assumptions (A) (B) 81,973 (61,858) (536,154) (275,371) (Gain) loss realized (3,547) 2,229 4,112 2,229 Servicing revenue, net $ (43,929) $ 53,050 $ (459,313) $ 133,366 (A) Includes changes in inputs or assumptions used in the valuation model. (B) Includes $(0.2) million and $(3.6) million for the three months ended September 30, 2020 and 2019, respectively, and $6.2 million and $4.4 million for the nine months ended September 30, 2020 and 2019, respectively, of fair value adjustment to excess spread financing. Interest income from investments in MSR Financing Receivables was composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Servicing fee revenue $ 83,493 $ 128,936 $ 303,936 $ 385,306 Ancillary and other fees 16,231 21,417 59,947 82,695 Less: subservicing expense (35,655) (40,410) (117,689) (145,649) Interest income, investments in MSR financing receivables $ 64,069 $ 109,943 $ 246,194 $ 322,352 Change in fair value of investments in MSR Financing Receivables was composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Amortization of servicing rights $ (36,134) $ (48,340) $ (182,085) $ (131,417) Change in valuation inputs and assumptions (A) 15,859 9,349 (62,072) 1,437 (Gain) loss on sales (B) — (2,419) (1,749) (3,220) Change in fair value of investments in MSR financing receivables $ (20,275) $ (41,410) $ (245,906) $ (133,200) (A) Includes changes in inputs or assumptions used in the valuation model and other changes due to the realization of expected cash flows. (B) Represents the realization of unrealized gain (loss) as a result of sales.
Summary of the Geographic Distribution of the Underlying Residential Mortgage Loans of the Direct Investment in MSRs	The table below summarizes the geographic distribution of the underlying residential mortgage loans of the investments in MSRs and MSR Financing Receivables: Percentage of Total Outstanding Unpaid Principal Amount State Concentration September 30, 2020 December 31, 2019 California 21.9 % 21.9 % Florida 7.3 % 6.9 % New York 6.7 % 6.4 % Texas 5.4 % 5.5 % New Jersey 4.8 % 4.9 % Illinois 3.5 % 3.6 % Massachusetts 3.3 % 3.4 % Georgia 3.2 % 3.1 % Maryland 3.1 % 3.0 % Washington 3.1 % 3.3 % Other U.S. 37.7 % 38.0 % 100.0 % 100.0 %

SERVICER ADVANCE INVESTMENTS (T

SERVICER ADVANCE INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Investments, All Other Investments [Abstract]
Summary of Investments in Servicer Advances	The following is a summary of New Residential’s Servicer advance investments, 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, 2020 Servicer advance investments $ 510,995 $ 535,760 5.2 % 5.7 % 6.3 December 31, 2019 Servicer advance investments $ 557,444 $ 581,777 5.3 % 5.7 % 6.3 (A) Carrying value represents the fair value of the Servicer advance investments, 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. The following is additional information regarding the Servicer advance investments and related financing: UPB of Underlying Residential Mortgage Loans Outstanding Servicer Advances Servicer Advances to UPB of Underlying Residential Mortgage Loans Face Amount of Secured Notes and Bonds Payable Loan-to-Value (“LTV”) (A) Cost of Funds (C) Gross Net (B) Gross Net September 30, 2020 Servicer Advance Investments (D) $ 27,484,426 $ 434,998 1.6 % $ 412,538 88.0 % 87.0 % 2.3 % 1.5 % December 31, 2019 Servicer Advance Investments (D) $ 31,442,267 $ 462,843 1.5 % $ 443,248 88.3 % 87.2 % 3.4 % 2.8 % (A) Based on outstanding servicer advances, excluding purchased but unsettled servicer advances. (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 are included in the Servicer Advance Investments: September 30, 2020 December 31, 2019 Principal and interest advances $ 85,481 $ 71,574 Escrow advances (taxes and insurance advances) 166,678 180,047 Foreclosure advances 182,839 211,222 Total $ 434,998 $ 462,843
Schedule of Interest Income Related to Investments in Servicer Advances	Interest income recognized by New Residential related to its Servicer advance investments was composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Interest income, gross of amounts attributable to servicer compensation $ 10,505 $ 14,212 $ 28,160 $ 43,220 Amounts attributable to base servicer compensation (703) (1,606) (2,325) (4,578) Amounts attributable to incentive servicer compensation 1,196 (7,273) (12,755) (20,780) Interest income from Servicer advance investments $ 10,998 $ 5,333 $ 13,080 $ 17,862 Three Months Ended Nine Months Ended 2020 2019 2020 2019 Interest income: Loans held-for-investment, at fair value $ 12,647 $ 14,532 $ 40,985 $ 47,167 Loans held-for-sale, at lower of cost or fair value 7,406 15,426 38,673 43,538 Loans held-for-sale, at fair value 31,267 56,644 104,565 130,128 Total interest income 51,320 86,602 184,223 220,833 Interest expense: Loans held-for-investment, at fair value 5,326 3,953 15,934 15,717 Loans held-for-sale, at lower of cost or fair value 4,068 9,315 17,501 26,553 Loans held-for-sale, at fair value 20,909 43,295 64,206 109,770 Total interest expense 30,303 56,563 97,641 152,040 Net interest income $ 21,017 $ 30,039 $ 86,582 $ 68,793

INVESTMENTS IN REAL ESTATE AN_2

INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Debt Securities, Available-for-sale	Activities related to New Residential’s investments in real estate and other securities were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 (in millions) Agency Non-Agency Agency Non-Agency Agency Non-Agency Agency Non-Agency Purchases Face $ 6,300.0 $ — $ 12,306.4 $ 3,324.9 $ 17,162.6 $ 5,083.1 $ 25,123.5 $ 7,899.1 Purchase price 6,538.0 — 12,610.9 247.0 17,687.4 575.0 25,700.0 1,164.9 Sales Face $ 1,195.5 $ 716.6 $ 6,073.4 $ 1,325.2 $ 18,590.6 $ 8,204.4 $ 17,898.5 $ 2,162.7 Amortized cost 1,231.8 526.3 6,233.5 832.40 18,911.0 6,083.5 18,339.1 1,571.0 Sale price 1,251.5 514.6 6,252.8 910.90 19,120.5 5,139.2 18,451.4 1,662.9 Gain (loss) on sale 19.7 (11.6) 19.3 78.5 209.5 (944.3) 112.3 91.9 The following is a summary of New Residential’s real estate and other securities: September 30, 2020 December 31, 2019 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 $ 114,401 $ 115,223 $ 12,254 $ — $ 127,476 1 AAA 3.50 % 3.50 % 8.8 — $ 11,519,943 Agency RMBS at FVO 8,921,032 9,247,334 48,905 (2,891) 9,293,347 53 AAA 2.24 % 2.24 % 4.1 — — Total Agency RMBS (F)(G) 9,035,433 9,362,557 61,159 (2,891) 9,420,823 54 AAA 2.25 % 2.25 % 4.2 — 11,519,943 Non-Agency RMBS (H)(I) 21,276,175 1,386,243 92,192 (69,191) 1,409,244 599 AA 3.03 % 4.86 % 5.9 16.5 % 7,957,785 Total/ $ 30,311,608 $ 10,748,800 $ 153,351 $ (72,082) $ 10,830,067 653 AAA 2.80 % 4.09 % 5.4 $ 19,477,728 (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 305 bonds with a carrying value of $647.1 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 $26.5 million and $2.8 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 fair value option securities. (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 $9.0 billion for fixed rate securities as of September 30, 2020. (H) The total outstanding face amount was $13.0 billion (including $11.9 billion of residual and fair value option notional amount) for fixed rate securities and $8.3 billion (including $7.7 billion of residual and fair value option notional amount) for floating rate securities as of September 30, 2020. (I) Includes other asset-backed securities (“ABS”) consisting primarily of (i) interest-only securities and servicing strips (fair value option securities) which New Residential elected to carry at fair value and record changes to valuation through the income statement, (ii) bonds backed by consumer loans, and (iii) corporate debt. 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 Corporate debt $ 500 $ 500 $ 10 $ — $ 510 1 B- 8.25 % 8.25 % 4.5 N/A Consumer loan bonds 13,847 11,069 — — 11,069 6 N/A N/A N/A — N/A Fair value option securities: Interest-only securities 10,506,022 272,207 17,641 (33,893) 255,954 126 AA+ 1.16 % 7.80 % 2.7 N/A Servicing strips 5,418,547 55,861 4,314 (9,009) 51,167 59 N/A 0.61 % 7.60 % 3.8 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, 2020. Securities in an Unrealized Loss Position Outstanding Face Amount Amortized Cost Basis Gross Unrealized Losses Carrying Value Number of Securities Weighted Average Before Credit Impairment Credit Impairment (A) After Credit Impairment Rating Coupon Yield Life Less than 12 Months $ 10,511,509 $ 3,144,203 $ (2,072) $ 3,142,131 $ (51,194) $ 3,090,937 112 AAA 2.30 % 2.05 % 6.1 12 or More Months 3,758,699 112,034 (8,297) 103,737 (20,889) 82,848 70 AA+ 0.89 % 2.59 % 2.4 Total/Weighted Average $ 14,270,208 $ 3,256,237 $ (10,369) $ 3,245,868 $ (72,083) $ 3,173,785 182 AAA 2.26 % 2.07 % 6.0 (A) Represents credit impairment on securities in an unrealized loss position as of September 30, 2020. New Residential performed an assessment of all 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 credit impairment, exceeds its fair value) and determined the following: September 30, 2020 December 31, 2019 Gross Unrealized Losses Gross Unrealized Losses Fair Value Amortized Cost Basis After Credit Impairment Credit (A) Non-Credit (B) Fair Value Amortized Cost Basis After Credit Impairment Credit (A) Non-Credit (B) Securities New Residential intends to sell $ — $ — $ — N/A $ — $ — $ — $ — Securities New Residential is more likely than not to be required to sell (C) — — — N/A — — — 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 122,086 134,639 (10,369) (12,553) 228,228 237,626 (3,232) (9,398) Non-credit impaired securities 3,051,699 3,111,229 — (59,530) 4,726,409 4,767,837 — (41,428) Total debt securities in an unrealized loss position $ 3,173,785 $ 3,245,868 $ (10,369) $ (72,083) $ 4,954,637 $ 5,005,463 $ (3,232) $ (50,826) (A) This amount is required to be recorded through earnings. In measuring the portion of credit losses, New Residential estimates the expected cash flow for each of the securities. This evaluation included 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 included New Residential’s expectations of prepayment rates, default rates and loss severities. Credit losses were measured as the decline in the present value of the expected future cash flows discounted at the security’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.
Schedule of Debt Securities, Available-for-sale, Allowance for Credit Loss	The following table summarizes the activity related to the allowance for credit losses on debt securities (excluding credit impairment relating to securities New Residential intends to sell or is more likely than not required to sell): Purchased Credit Deteriorated Non-Purchased Credit Deteriorated Total Allowance for credit losses on available-for-sale debt securities at December 31, 2019 $ — $ — $ — Additions to the allowance for credit losses on securities for which credit losses were not previously recorded — — — Additions to the allowance for credit losses arising from purchases of available-for-sale debt securities accounted for as purchased financial assets with credit deterioration — — — Reductions for securities sold during the period — — — Reductions in the allowance for credit losses 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 — — — Additional increases (decreases) to the allowance for credit losses on securities that had credit losses or an allowance recorded in a previous period 10,359 10 10,369 Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Allowance for credit losses on available-for-sale debt securities at September 30, 2020 $ 10,359 $ 10 $ 10,369
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, 2020 December 31, 2019 Geographic Location (A) Outstanding Face Amount Percentage of Total Outstanding Outstanding Face Amount Percentage of Total Outstanding Western U.S. $ 7,347,342 34.6 % $ 9,048,847 36.6 % Southeastern U.S. 5,543,854 26.1 % 5,983,966 24.2 % Northeastern U.S. 4,876,703 22.9 % 5,416,137 21.9 % Midwestern U.S. 2,354,349 11.1 % 2,562,269 10.4 % Southwestern U.S. 1,130,535 5.3 % 1,440,467 5.8 % Other (B) 8,995 — % 296,273 1.1 % $ 21,261,778 100.0 % $ 24,747,959 100.0 % (A) Excludes $13.8 million and $25.0 million face amount of bonds backed by consumer loans and $0.5 million and $85.0 million face amount of bonds backed by corporate debt as of September 30, 2020 and December 31, 2019, respectively. (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 fair value option securities: Outstanding Face Amount Carrying Value September 30, 2020 $ 967,463 $ 406,816 December 31, 2019 5,701,736 3,830,369
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, 2020 Balance at December 31, 2019 $ 1,882,476 Additions 76,959 Accretion (51,840) Reclassifications from (to) non-accretable difference (2,858,719) Disposals 1,317,537 Balance at September 30, 2020 $ 366,413

INVESTMENTS IN RESIDENTIAL MO_2

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS (Tables)	9 Months Ended
	Sep. 30, 2020
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: September 30, 2020 December 31, 2019 Outstanding Face Amount Carrying Loan Weighted Average Yield Weighted Average Life (Years) (A) Carrying Value Loan Type Total residential mortgage loans, held-for-investment, at fair value (B) $ 784,838 $ 718,802 12,587 6.7 % 4.2 $ 925,706 Acquired reverse mortgage loans (C) $ 11,784 $ 5,848 28 7.8 % 3.9 $ 5,844 Acquired performing loans (D)(F) 205,746 191,580 4,138 6.6 % 3.4 857,821 Acquired non-performing loans (E)(F) 502,003 380,925 3,363 7.5 % 3.3 565,387 Total residential mortgage loans, held-for-sale $ 719,533 $ 578,353 7,529 7.2 % 3.3 $ 1,429,052 Acquired performing loans (D)(F) $ 1,205,668 $ 1,176,302 7,590 4.2 % 9.9 $ 3,024,288 Acquired non-performing loans 436,936 338,451 2,872 7.5 % 3.3 — Originated loans 2,705,121 2,843,720 9,947 2.9 % 22.1 1,589,324 Total residential mortgage loans, held-for-sale, at fair value $ 4,347,725 $ 4,358,473 20,409 3.7 % 16.8 $ 4,613,612 Total residential mortgage loans, held-for-sale $ 5,067,258 $ 4,936,826 $ 6,042,664 (A) The weighted average life is based on the expected timing of the receipt of cash flows. (B) Residential mortgage loans, held-for-investment, at fair value is grouped and presented as part of Residential loans and variable interest entity consumer loans held-for-investment, at fair value on the condensed consolidated balance sheets. (C) Represents a 70% participation interest that New Residential holds in a portfolio of reverse mortgage loans. Mr. Cooper holds the other 30% interest and services the loans. The average loan balance outstanding based on total UPB was $0.6 million. Approximately 47% 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. (D) Performing loans are generally placed on nonaccrual status when principal or interest is 120 days or more past due. (E) As of September 30, 2020, New Residential has placed Non-Performing Loans, held-for-sale on nonaccrual status, except as described in (F) below. (F) Includes $490.9 million and $21.2 million UPB of Ginnie Mae EBO performing and non-performing loans, respectively, on accrual status as 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 underlying residential mortgage loans: Percentage of Total Outstanding Unpaid Principal Amount State Concentration September 30, 2020 December 31, 2019 California 13.8 % 16.1 % New York 8.9 % 9.0 % Texas 8.0 % 7.1 % Florida 7.8 % 8.4 % Georgia 5.5 % 4.8 % New Jersey 5.1 % 4.2 % Illinois 3.5 % 3.6 % Pennsylvania 3.2 % 2.9 % Maryland 3.2 % 3.3 % Massachusetts 3.1 % 3.3 % Other U.S. 37.9 % 37.3 % 100.0 % 100.0 %
Schedule of Performing Loans Past Due	The following table summarizes the difference between the aggregate unpaid principal balance and the aggregate fair value of loans as of September 30, 2020: Days Past Due Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Balance 90 to 119 $ 157,247 $ 142,438 $ (14,808) 120+ 1,104,658 931,980 (172,678) $ 1,261,905 $ 1,074,418 $ (187,486) The following table provides past due information regarding New Residential’s Performing Loans, which is an important indicator of credit quality and the establishment of the allowance for credit losses: December 31, 2019 Days Past Due Delinquency Status (A) Current 86.5 % 30-59 7.0 % 60-89 2.7 % 90-119 (B) 0.7 % 120+ (C) 3.1 % 100.0 % (A) Represents the percentage of the total principal balance that corresponds to loans that are in each delinquency status. (B) Includes loans 90-119 days past due and still accruing interest because they are generally placed on nonaccrual status at 120 days or more past due. (C) Represents nonaccrual 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: December 31, 2019 Days Past Due Delinquency Status (A) Current 95.3 % 30-59 1.8 % 60-89 1.2 % 90-119 (B) 0.7 % 120+ (B) (C) 1.0 % 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 Loans Held For Sale, Fair Value	The following table summarizes the activity for residential mortgage loans: Loans Held-for-Investment, at Fair Value Loans Held-for-Sale, at Lower Cost or Fair Value Loans Held-for-Sale, at Fair Value Total Balance at December 31, 2019 $ 925,706 $ 1,429,052 $ 4,613,612 $ 6,968,370 Fair value adjustment due to fair value option (6,020) — — (6,020) Originations — — 37,361,429 37,361,429 Sales — (733,087) (39,713,858) (40,446,945) Purchases/additional fundings — 110,741 2,279,757 2,390,498 Proceeds from repayments (105,032) (86,798) (140,657) (332,487) Transfer of loans to other assets (A) — (3,338) (20,372) (23,710) Transfer of loans to real estate owned (5,328) (17,085) (4,674) (27,087) Transfers of loans to held for sale (62,274) — 62,274 — Valuation provision on loans — (121,132) — (121,132) Changes in instrument-specific credit risk 18,808 — (31,488) (12,680) Other factors (47,058) — (47,550) (94,608) Balance at September 30, 2020 $ 718,802 $ 578,353 $ 4,358,473 $ 5,655,628 (A) Represents loans for which foreclosure has been completed and for which New Residential has made, or intends to make, a claim with the governmental agency that has guaranteed the loans that are recognized as claims receivable in Other Assets (Note 2).
Schedule of Net Interest Income	Interest income recognized by New Residential related to its Servicer advance investments was composed of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Interest income, gross of amounts attributable to servicer compensation $ 10,505 $ 14,212 $ 28,160 $ 43,220 Amounts attributable to base servicer compensation (703) (1,606) (2,325) (4,578) Amounts attributable to incentive servicer compensation 1,196 (7,273) (12,755) (20,780) Interest income from Servicer advance investments $ 10,998 $ 5,333 $ 13,080 $ 17,862 Three Months Ended Nine Months Ended 2020 2019 2020 2019 Interest income: Loans held-for-investment, at fair value $ 12,647 $ 14,532 $ 40,985 $ 47,167 Loans held-for-sale, at lower of cost or fair value 7,406 15,426 38,673 43,538 Loans held-for-sale, at fair value 31,267 56,644 104,565 130,128 Total interest income 51,320 86,602 184,223 220,833 Interest expense: Loans held-for-investment, at fair value 5,326 3,953 15,934 15,717 Loans held-for-sale, at lower of cost or fair value 4,068 9,315 17,501 26,553 Loans held-for-sale, at fair value 20,909 43,295 64,206 109,770 Total interest expense 30,303 56,563 97,641 152,040 Net interest income $ 21,017 $ 30,039 $ 86,582 $ 68,793
Schedule of Originated Mortgage Loans	Gain on originated mortgage loans, held-for-sale, net is summarized below: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Gain on loans originated and sold, net (A) $ 244,224 $ 45,923 $ 520,094 $ 98,812 Gain (loss) on settlement of mortgage loan origination derivative instruments (B) (68,789) (32,138) (290,670) (61,879) MSRs retained on transfer of loans (C) 156,353 96,317 424,451 190,666 Other (D) 19,306 12,050 51,896 28,829 Realized gain on sale of originated mortgage loans, net $ 351,094 $ 122,152 $ 705,771 $ 256,428 Change in fair value of loans 67,998 (12,524) 96,375 15,458 Change in fair value of interest rate lock commitments (Note 10) 82,019 3,002 206,073 13,911 Change in fair value of derivative instruments (Note 10) (6,013) 14,117 (23,401) 9,138 Gain on originated mortgage loans, held-for-sale, net $ 495,098 $ 126,747 $ 984,818 $ 294,935 (A) Includes loan origination fees of $566.3 million and $953.1 million for the three and nine months ended September 30, 2020, respectively, $103.5 million and $189.4 million for the three and nine months ended September 30, 2019, respectively. (B) Represents settlement of forward securities delivery commitments utilized as an economic hedge for mortgage loans not included within forward loan sale commitments. (C) Represents the initial fair value of the capitalized mortgage servicing rights upon loan sales with servicing retained. (D) Includes fees for services associated with the loan origination process.

INVESTMENTS IN CONSUMER LOANS (

INVESTMENTS IN CONSUMER LOANS (Tables)	9 Months Ended
	Sep. 30, 2020
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 Interest in Consumer Loans Carrying Value Weighted Average Coupon Weighted Average Expected Life (Years) (A) Weighted Average Delinquency (B) September 30, 2020 Consumer Loan Companies Performing Loans $ 525,664 53.5 % $ 582,167 18.2 % 3.7 3.4 % Purchased Credit Deteriorated Loans (C) 137,450 53.5 % 136,188 14.2 % 3.5 6.2 % Other - Performing Loans 4,070 100.0 % 3,753 15.3 % 0.5 3.6 % Total Consumer Loans, held-for-investment $ 667,184 $ 722,108 17.4 % 3.6 4.0 % December 31, 2019 Consumer Loan Companies Performing Loans $ 644,676 53.5 % $ 682,310 18.8 % 4.0 4.7 % Purchased Credit Deteriorated Loans (C) 170,083 53.5 % 136,633 15.5 % 3.7 10.1 % Other - Performing Loans 9,158 100.0 % 8,602 15.1 % 0.7 6.1 % Total Consumer Loans, held-for-investment $ 823,917 $ 827,545 18.0 % 3.9 5.9 % (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) 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. (C) 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.
Schedule Of Consumer Loans, Held-For-Investment	The following table summarizes the past due status and difference between the aggregate unpaid principal balance and the aggregate fair value of consumer loans as of September 30, 2020: Days Past Due Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Balance Under 90 Days $ 656,284 $ 710,367 $ 54,083 90 days or more past due 10,900 11,741 841 Total $ 667,184 $ 722,108 $ 54,924
Past Due Financing Receivable	The following table summarizes the difference between the aggregate unpaid principal balance and the aggregate fair value of loans as of September 30, 2020: Days Past Due Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Balance 90 to 119 $ 157,247 $ 142,438 $ (14,808) 120+ 1,104,658 931,980 (172,678) $ 1,261,905 $ 1,074,418 $ (187,486) The following table provides past due information regarding New Residential’s Performing Loans, which is an important indicator of credit quality and the establishment of the allowance for credit losses: December 31, 2019 Days Past Due Delinquency Status (A) Current 86.5 % 30-59 7.0 % 60-89 2.7 % 90-119 (B) 0.7 % 120+ (C) 3.1 % 100.0 % (A) Represents the percentage of the total principal balance that corresponds to loans that are in each delinquency status. (B) Includes loans 90-119 days past due and still accruing interest because they are generally placed on nonaccrual status at 120 days or more past due. (C) Represents nonaccrual 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: December 31, 2019 Days Past Due Delinquency Status (A) Current 95.3 % 30-59 1.8 % 60-89 1.2 % 90-119 (B) 0.7 % 120+ (B) (C) 1.0 % 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 fair value of consumer loans, held-for-investment were as follows: Balance at December 31, 2019 $ 827,545 Fair value adjustment due to fair value option 36,472 Additional fundings (A) 25,008 Proceeds from repayments (176,127) Accretion of loan discount and premium amortization, net 18,844 Fair value adjustment due to: Changes in instrument-specific credit risk (429) Other factors (9,205) Balance at September 30, 2020 $ 722,108 (A) Represents draws on consumer loans with revolving privileges.
Equity Method Investments	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, 2020 December 31, 2019 Excess MSR assets $ 190,246 $ 226,843 Other assets 25,158 25,035 Other liabilities (687) (687) Equity $ 214,717 $ 251,191 New Residential’s investment $ 107,359 $ 125,596 New Residential’s ownership 50.0 % 50.0 % Three Months Ended Nine Months Ended 2020 2019 2020 2019 Interest income $ 12,249 $ 7,990 $ 20,099 $ 12,251 Other income (loss) (13,027) 1,528 (25,879) (4,029) Expenses (8) (16) (24) (48) Net income (loss) $ (786) $ 9,502 $ (5,804) $ 8,174 The following table summarizes the activity of New Residential’s investments in equity method investees: Balance at December 31, 2019 $ 125,596 Distributions of earnings from equity method investees (1,170) Distributions of capital from equity method investees (14,165) Change in fair value of investments in equity method investees (2,902) Balance at September 30, 2020 $ 107,359 The following table summarizes the income earned from the Company’s investments in LoanCo and WarrantCo during 2019: Three Months Ended September 30, 2019 (A) Nine Months Ended September 30, 2019 (A) Interest income $ 636 $ 20,003 Interest expense — (6,487) Change in fair value of consumer loans and warrants (2,933) (4,390) Gain on sale of consumer loans (7,525) (9,193) Other expenses (576) (3,494) Net income $ (10,398) $ (3,561) New Residential’s equity in net income $ (2,547) $ (890) New Residential’s ownership 24.5 % 25.0 % (A) Data for the period ended August 31, 2019 as a result of the one month reporting lag. The following is a summary of LoanCo’s consumer loan investments at September 30, 2019: Unpaid Principal Balance Interest in Consumer Loans Carrying Value Weighted Average Coupon Weighted Average Expected Life (Years) (A) Weighted Average Delinquency (B) September 30, 2019 (C) $ 1,226 25.0 % $ 1,632 18.7 % 1.0 — % (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) 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. (C) Data as of August 31, 2019 as a result of the one month reporting lag.

DERIVATIVES (Tables)

DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2020
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, 2020 December 31, 2019 Derivative assets Interest rate swaps (A) Other assets $ — $ 155 Interest rate lock commitments Other assets 246,247 41,346 TBAs Other assets 9,249 — $ 255,496 $ 41,501 Derivative liabilities Interest rate swaps (A) Accrued expenses and other liabilities $ 263 $ — Interest rate lock commitments Accrued expenses and other liabilities 283 1,455 Forward loan sale commitments Accrued expenses and other liabilities — 27 TBAs Accrued expenses and other liabilities 37,274 5,403 $ 37,820 $ 6,885 (A) Net of $206.3 million and $171.8 million of related variation margin accounts as of September 30, 2020 and December 31, 2019, respectively. The following table summarizes notional amounts related to derivatives: September 30, 2020 December 31, 2019 Interest rate caps (A) $ 12,500 $ 12,500 Interest rate swaps (B) 9,070,000 4,900,000 Interest rate lock commitments 12,412,095 4,043,935 Forward loan sale commitments — 43,654 TBAs, short position (C) 15,254,283 5,048,000 TBAs, long position (C) — 11,692,212 (A) As of September 30, 2020, caps LIBOR at 4.00% for $12.5 million of notional. The weighted average maturity of the interest rate caps as of September 30, 2020 was 2 months. (B) Includes $4.4 billion notional of receive LIBOR/pay fixed of 2.96% and $4.7 billion notional of receive fixed of 0.80%/pay LIBOR with weighted average maturities of 31 months and 30 months, respectively, as of September 30, 2020. Includes $4.0 billion notional of receive LIBOR/pay fixed of 3.21% and $0.9 billion notional of receive fixed of 1.89%/pay LIBOR with weighted average maturities of 36 months and 87 months, respectively, as of December 31, 2019. (C) Represents the notional amount of Agency RMBS, classified as derivatives. The following table summarizes all income (losses) recorded in relation to derivatives: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Change in fair value of derivative investments (A) Interest rate caps $ — $ — $ — $ (3) Interest rate swaps 23,089 42,306 4,213 (26,893) TBAs — (917) — 1,859 23,089 41,389 4,213 (25,037) Gain (loss) on settlement of investments, net Interest rate swaps (23,192) (10,338) (62,039) (32,529) TBAs (B) — (3,809) (71,060) (119,895) (23,192) (14,147) (133,099) (152,424) Gain on originated mortgage loans, held-for-sale, net (A) Interest rate lock commitments 82,019 3,002 206,073 13,911 TBAs (6,013) 14,389 (23,428) 9,208 Forward loan sale commitments — (272) 27 (70) 76,006 17,119 182,672 23,049 Total income (losses) $ 75,903 $ 44,361 $ 53,786 $ (154,412) (A) Represents unrealized gains (losses). (B) Excludes $68.8 million and $290.7 million for the three and nine months ended September 30, 2020, respectively, and $32.1 million and $61.9 million for the three and nine months ended September 30, 2019, respectively, in loss on settlement included within gain on originated mortgage loans, held-for-sale, net (Note 8).

DEBT OBLIGATIONS (Tables)

DEBT OBLIGATIONS (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Debt Obligations	The following table presents certain information regarding New Residential’s secured financing agreements and secured notes and bonds payable debt obligations: September 30, 2020 December 31, 2019 Collateral Debt Obligations/Collateral 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) Secured Financing Agreements (C) Repurchase Agreements: Warehouse Credit Facilities-Residential Mortgage Loans (F) $ 3,759,627 $ 3,754,803 Oct-20 to Jul-22 2.5 % 1.0 $ 4,156,437 $ 4,250,005 $ 4,215,066 17.1 $ 5,053,207 Agency RMBS (D) $ 9,958,246 $ 9,958,246 Oct-20 to Dec-20 0.2 % 0.2 $ 9,930,973 $ 10,285,282 $ 10,361,950 3.8 $ 15,481,677 Non-Agency RMBS (E) $ 952,323 $ 950,836 Oct-20 to Dec-20 4.1 % 0.1 $ 18,999,108 $ 1,730,072 $ 1,734,798 6.0 $ 7,317,519 Real Estate Owned (G)(H) $ 2,983 $ 2,983 Oct-20 to Jul-22 3.94 % 1.3 N/A N/A 3,796 N/A 63,822 Total Secured Financing Agreements 14,673,179 14,666,868 1.05 % 0.4 27,916,225 Secured Notes and Bonds Payable Excess MSRs (I) 264,980 264,980 Nov-20 to Aug-24 3.91 % 1.1 107,584,509 333,874 421,907 6.0 217,300 MSRs (J) 2,794,108 2,786,144 Jan-21 to Jul-25 4.57 % 2.3 444,177,336 4,645,075 4,675,648 5.8 2,640,036 Servicer Advance Investments (K) 412,538 412,538 Apr-21 to Aug-21 2.27 % 0.6 434,998 510,995 535,760 6.3 581,777 Servicer Advances (K) 2,502,158 2,492,239 Apr-21 to Sep-23 2.84 % 1.9 2,747,433 2,857,040 2,857,040 0.7 2,599,895 Residential Mortgage Loans (L) 1,103,847 1,096,638 Apr-21 to Aug-60 4.26 % 30.1 1,656,351 1,588,739 1,413,258 4.1 864,451 Consumer Loans (M) 678,951 681,109 September-37 2.03 % 3.0 663,047 718,287 718,287 3.6 816,689 Total Secured Notes and Bonds Payable 7,756,582 7,733,648 3.60 % 6.1 7,720,148 Total/ Weighted Average $ 22,429,761 $ 22,400,516 1.93 % 2.3 $ 35,636,373 (A) Net of deferred financing costs. (B) All debt obligations with a stated maturity through October 31, 2020 were refinanced, extended or repaid. (C) These secured financing agreements had approximately $19.5 million of associated accrued interest payable as of September 30, 2020. (D) All Agency RMBS repurchase agreements have a fixed rate. (E) All Non-Agency RMBS secured financing agreements have LIBOR-based floating interest rates. This also includes repurchase agreements and related collateral of $30.4 million and $37.3 million, respectively, on retained bonds collateralized by Agency MSRs. (F) Includes $270.7 million of repurchase agreements which bear interest at a fixed rate of 4.4%. All remaining repurchase agreements have LIBOR-based floating interest rates. (G) All 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) Includes $70.2 million of corporate loans which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 2.50% and $194.7 million of corporate loans which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 3.50%. The outstanding face amount of the collateral represents the UPB of the residential mortgage loans underlying the interests in MSRs that secure these notes. (J) Includes $933.0 million of MSR notes which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.50%; $37.4 million of MSR notes which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 2.50%; $326.1 million of MSR notes which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.50%; and $1,497.6 million of capital markets notes with fixed interest rates ranging 3.55% to 5.44%. The outstanding face amount of the collateral represents the UPB of the residential mortgage loans underlying the MSRs and MSR financing receivables that secure these notes. (K) $1.9 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 equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.38% to 1.85%. Collateral includes Servicer Advance Investments, as well as servicer advances receivable related to the mortgage servicing rights and MSR financing receivables owned by NRM. (L) Represents (i) a $989.1 million note payable to Mr. Cooper which includes a $1.4 million receivable from government agency and bears interest equal to one-month LIBOR plus 2.88%, (ii) $75.1 million face amount of SAFT 2013-1 mortgage-backed securities issued with fixed interest rate of 3.72% (see Note 12 for fair value details), (iii) $165.5 million of MDST Trusts asset-backed notes held by third parties which bear interest equal to 6.63% (see Note 12 for fair value details), and (iv) $989.1 million of bonds held by third parties which bear interest at a fixed rate ranging from 3.23% to 5.00%. (M) Includes the SpringCastle debt, which is primarily composed of the following classes of asset-backed notes held by third parties: $610.0 million UPB of Class A notes with a coupon of 1.97% and a stated maturity date in September 2037 and $53.0 million UPB of Class B notes with a coupon of 2.66% and a stated maturity date in September 2037. Activities related to the carrying value of New Residential’s debt obligations were as follows: Excess MSRs MSRs Servicer Advances (A) Real Estate Securities Residential Mortgage Loans and REO Consumer Loans Total Balance at December 31, 2019 $ 217,300 $ 2,640,036 $ 3,181,672 $ 22,799,196 $ 5,981,480 $ 816,689 $ 35,636,373 Secured Financing Agreements: Borrowings — — — 101,149,870 39,427,045 — 140,576,915 Repayments — — — (113,038,497) (40,782,949) — (153,821,446) Capitalized deferred financing costs, net of amortization — — — (1,487) (3,337) — (4,824) Secured Notes and Bonds Payable: Borrowings 97,173 2,367,635 3,053,589 — 875,758 663,047 7,057,202 Repayments (49,493) (2,220,067) (3,328,415) — (640,924) (797,904) (7,036,803) Discount on borrowings, net of amortization — 1,457 — — — (2,882) (1,425) Unrealized loss on notes, fair value — — — — (2,694) 2,159 (535) Capitalized deferred financing costs, net of amortization — (2,917) (2,069) — 45 — (4,941) Balance at September 30, 2020 $ 264,980 $ 2,786,144 $ 2,904,777 $ 10,909,082 $ 4,854,424 $ 681,109 $ 22,400,516 (A) New Residential net settles daily borrowings and repayments of the Secured notes and bonds payable on its servicer advances.
Schedule of Contractual Maturities of Debt Obligations	New Residential’s debt obligations as of September 30, 2020 had contractual maturities as follows: Year Ending Nonrecourse Recourse Total October 1 through December 31, 2020 $ 1,296 $ 11,670,545 $ 11,671,841 2021 1,632,734 3,097,533 4,730,267 2022 119,403 1,691,631 1,811,034 2023 1,200,000 321,685 1,521,685 2024 — 522,589 522,589 2025 and thereafter 919,583 1,802,761 2,722,344 $ 3,873,016 $ 19,106,744 $ 22,979,760
Schedule of Borrowing Capacity	The following table represents New Residential’s borrowing capacity as of September 30, 2020: Debt Obligations / Collateral Borrowing Capacity Balance Outstanding Available Financing (A) Secured Financing Agreements Residential mortgage loans and REO $ 5,011,258 $ 995,151 $ 4,016,107 New loan originations 5,283,000 2,767,458 2,515,542 Secured Notes and Bonds Payable Excess MSRs 311,237 264,980 46,257 MSRs 1,750,000 1,296,506 453,494 Servicer advances 4,645,000 2,914,696 1,730,304 Residential mortgage loans 650,000 — 650,000 $ 17,650,495 $ 8,238,791 $ 9,411,704
Schedule of Term Loans	The table below summarizes the interest expense on the 2020 Term Loan: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Coupon interest at 11.00% $ 13,652 $ — $ 20,435 $ — Amortization of debt discounts and issuance costs 3,368 — 5,006 — Total $ 17,020 $ — $ 25,441 $ —
Schedule of Debt Redemption	The 2025 Senior Notes mature on October 15, 2025 and the Company may redeem some or all of the 2025 Senior Notes at the Company’s option, at any time from time to time, on or after October 15, 2022 at a price equal to the following fixed redemption prices (expressed as a percentage of principal amount of the 2025 Senior Notes to be redeemed): Year Price 2022 103.125% 2023 101.563% 2024 and thereafter 100.000%

FAIR VALUE MEASUREMENT (Tables)

FAIR VALUE MEASUREMENT (Tables)	9 Months Ended
	Sep. 30, 2020
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 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, 2020 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) $ 77,351,569 $ 328,623 $ — $ — $ 328,623 $ 328,623 Excess mortgage servicing rights, equity method investees, at fair value (A) 30,232,940 107,359 — — 107,359 107,359 Mortgage servicing rights, at fair value (A) 386,369,641 3,651,805 — — 3,651,805 3,651,805 Mortgage servicing rights financing receivables, at fair value (A) 75,249,807 1,129,819 — — — 1,129,819 1,129,819 Servicer advance investments, at fair 434,998 535,760 — — 535,760 535,760 Real estate and other securities 30,311,608 10,830,067 — 9,420,823 1,409,244 10,830,067 Residential mortgage loans, held-for-sale 719,533 578,353 — 62,273 516,080 578,353 Residential mortgage loans, held-for-sale, at fair value 4,347,725 4,358,473 — 3,175,134 1,183,339 4,358,473 Residential mortgage loans, held-for-investment, at fair value 784,838 718,802 — — 718,802 718,802 Residential mortgage loans subject to repurchase 1,458,325 1,458,325 — 1,458,325 — 1,458,325 Consumer loans, held-for-investment, at fair value 667,184 722,110 — — 722,110 722,110 Derivative assets 22,562,001 255,496 — 9,249 246,247 255,496 Note receivable 48,278 48,016 — — 48,016 48,016 Cash and cash equivalents 841,022 841,022 841,022 — — 841,022 Restricted cash 180,554 180,554 180,554 — — 180,554 Other assets (B) N/A 44,545 8,172 — 36,373 44,545 $ 25,789,129 $ 1,029,748 $ 14,125,804 $ 10,633,577 $ 25,789,129 Liabilities Secured financing agreements $ 14,673,178 $ 14,666,868 $ — $ 14,673,178 $ — $ 14,673,178 Secured notes and bonds payable (C) 7,756,582 7,733,648 — — 7,718,539 7,718,539 Unsecured senior notes, net of issuance costs 541,758 541,758 — — 541,758 541,758 Residential mortgage loan repurchase liability 1,458,325 1,458,325 — 1,458,325 — 1,458,325 Derivative liabilities 9,230,520 37,820 — 37,537 283 37,820 Excess spread financing 2,416,800 20,129 — — 20,129 20,129 Contingent consideration N/A 13,628 — — 13,628 13,628 $ 24,472,176 $ — $ 16,169,040 $ 8,294,337 $ 24,463,377 (A) The notional amount represents the total unpaid principal balance of the residential mortgage loans underlying the MSRs, MSR financing receivables and Excess MSRs. New Residential does not receive an excess mortgage servicing amount on non-performing loans in Agency portfolios. (B) Excludes the indirect equity investment in a commercial redevelopment project that is accounted for at fair value on a recurring basis based on the NAV of New Residential’s investment. The investment had a fair value of $31.8 million as of September 30, 2020. (C) Includes the SAFT 2013-1, MDST Trusts, NPL/RPL Securitization Trusts and SCFT 2020-A mortgage backed securities issued for which the fair value option for financial instruments was elected and resulted in a fair value of $1.8 billion as of September 30, 2020.
Schedule of Financial Assets Measured at Fair Value on a Recurring Basis using Level 3 Inputs	New Residential’s 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) MSRs (A) MSR Financing Receivables (A) Servicer Advance Investments Non-Agency RMBS Derivatives (C) Residential Mortgage Loans Consumer Loans Agency Non-Agency Total Balance at December 31, 2019 $ 209,633 $ 170,114 $ 125,596 $ 3,967,960 $ 1,718,273 $ 581,777 $ 7,957,785 $ 39,891 $ 3,998,825 $ — $ 18,769,854 Transfers Transfers from Level 3 — — — — — — — — (715,790) — (715,790) Transfers to Level 3 — — — — — — — — 440,168 827,545 1,267,713 Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights — — — 320,613 (320,613) — — — — — — Gains (losses) included in net income Included in provision (reversal) for credit losses on securities (D) — — — — — — (15,300) — — — (15,300) Included in change in fair value of investments in excess mortgage servicing rights (D) (7,805) (3,968) — — — — — — — — (11,773) Included in change in fair value of investments in excess mortgage servicing rights, equity method investees (D) — — (2,902) — — — — — — — (2,902) Included in servicing revenue, net (E) — — — (1,497,731) — — — — — — (1,497,731) Included in change in fair value of investments in mortgage servicing rights financing receivables (D) — — — — (245,906) — — — — — (245,906) Included in change in fair value of servicer advance investments — — — — — 431 — — — — 431 Included in change in fair value of investments in residential mortgage loans — — — — — — — — (109,324) — (109,324) Included in gain (loss) on settlement of investments, net 14 1 — — — — (944,257) — — — (944,242) Included in other income (loss), net (D) (10,817) (1,373) — — — — (30,695) 206,073 (8,399) (9,634) 145,155 Gains (losses) included in other comprehensive income (F) — — — — — — (593,130) — (6,020) 36,472 (562,678) Interest income 12,066 13,110 — — — 13,080 95,713 — — 18,844 152,813 Purchases, sales and repayments Purchases, net (G) — — — 446,964 (18,227) 991,289 575,030 — 1,917,894 25,008 3,937,958 Proceeds from sales (56) (5) — (10,452) (3,708) (5,139,114) — (3,376,461) — (8,529,796) Proceeds from repayments (29,486) (22,805) (15,335) — — (1,050,817) (495,100) — (238,752) (176,125) (2,028,420) Originations and other — — — 424,451 — — (1,688) — — — 422,763 Balance at September 30, 2020 $ 173,549 $ 155,074 $ 107,359 $ 3,651,805 $ 1,129,819 $ 535,760 $ 1,409,244 $ 245,964 $ 1,902,141 $ 722,110 $ 10,032,825 (A) Includes the recapture agreement for each respective pool, as applicable. (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) For the purpose of this table, the IRLC asset and liability positions are shown net. (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) The components of Servicing revenue, net are disclosed in Note 5. (F) These gains (losses) were included in net unrealized gain (loss) on securities in the condensed consolidated statements of comprehensive income. (G) Net of purchase price adjustments and purchase price fully reimbursable from MSR sellers as a result of prepayment protection.
Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis using Level 3 Inputs	New Residential’s liabilities measured at fair value on a recurring basis using Level 3 inputs changed as follows: Level 3 Excess Spread Financing Asset-Backed Securities Issued Contingent Consideration Total Balance at December 31, 2019 $ 31,777 $ 659,738 $ 55,222 $ 746,737 Transfers Transfers from Level 3 — — (43,875) (43,875) Transfers to Level 3 — — — — Acquisition — — — — Gains (losses) included in net income Included in provision (reversal) for credit losses on securities (A) — — — — Included in change in fair value of investments in excess mortgage servicing rights — — — — Included in change in fair value of investments in excess mortgage servicing rights, equity method investees (A) — — — — Included in servicing revenue, net (B) (12,259) — — (12,259) Included in change in fair value of investments in mortgage servicing rights financing receivables — — — — Included in change in fair value of servicer advance investments — — — — Included in change in fair value of investments in residential mortgage loans — (534) — (534) Included in gain (loss) on settlement of investments, net — — — — Included in other income (A) — — 4,225 4,225 Gains (losses) included in other comprehensive income, net of tax (C) — — — — Interest income — — — — Purchases, sales and repayments Purchases — 1,538,804 — 1,538,804 Proceeds from sales — — — — Payments — (439,911) (1,944) (441,855) Other 611 (1,465) — (854) Balance at September 30, 2020 $ 20,129 $ 1,756,632 $ 13,628 $ 1,790,389 (A) The gains (losses) recorded in earnings during the period are attributable to the change in unrealized gains (losses) relating to Level 3 liabilities still held at the reporting dates and realized gains (losses) recorded during the period. (B) The components of Servicing revenue, net are disclosed in Note 5. (C) These gains (losses) were included in Net unrealized gain (loss) on securities in the condensed consolidated statements of comprehensive income.
Summary of Measurement Inputs and Valuation Techniques	The following table summarizes certain information regarding the ranges and weighted averages of inputs used as of September 30, 2020: Significant Inputs (A) Prepayment (B) Delinquency (C) Recapture (D) Mortgage Servicing Amount or Excess Mortgage Servicing Amount (bps) (E) Collateral Weighted Average Maturity (Years) (F) Excess MSRs Directly Held (Note 4) Agency Original Pools 7.1% - 10.1% (8.3%) —% - 2.8% (1.2%) 4.4% - 23.3% (10.4%) 15 - 32 (21) 14 - 22 (19) Recaptured Pools 7.9% - 11.5% (10.2%) 0.1% - 3.6% (0.8%) —% - 33.9% (21.6%) 21 - 29 (24) 19 - 24 (22) 7.1% - 11.5% (8.9%) —% - 3.6% (1.1%) —% - 33.9% (14.1%) 15 - 32 (22) 14 - 24 (20) Non-Agency (G) Mr. Cooper and SLS Serviced: Original Pools 7.4% - 12.5% (8.8%) 3.2% - 15.0% (11.1%) —% - 13.1% (8.4%) 5 - 25 (15) 18 - 28 (23) Recaptured Pools 5.6% - 7.1% (6.3%) 0.2% - 0.5% (0.4%) 12.0% - 22.4% (14.1%) 23 - 28 (25) 21 - 24 (23) 5.6% - 12.5% (8.4%) 0.2% - 15.0% (11.1%) —% - 22.4% (9.3%) 5 - 28 (17) 18 - 28 (23) Total/Weighted Average — Excess MSRs Directly Held 5.6% - 12.5% (8.7%) —% - 15.0% (5.1%) —% - 33.9% (11.8%) 5 - 32 (19) 14 - 28 (21) Excess MSRs Held through Equity Method Investees (Note 4) Agency Original Pools 7.5% - 10.1% (8.3%) 0.9% - 2.2% (1.4%) 5.5% - 23.3% (9.6%) 15 - 25 (19) 18 - 19 (18) Recaptured Pools 9.2% - 10.5% (9.6%) 0.6% - 1.4% (1.1%) 12.3% - 29.8% (16.1%) 22 - 28 (25) 20 - 23 (22) Total/Weighted Average — Excess MSRs Held through Investees 7.5% - 10.7% (9.0%) 0.6% - 2.2% (1.2%) 5.5% - 29.8% (12.9%) 15 - 28 (22) 18 - 23 (20) Total/Weighted Average — Excess MSRs All Pools 5.6% - 12.5% (8.8%) —% - 15.0% (3.7%) —% - 33.9% (12.2%) 5 - 32 (20) 14 - 28 (21) MSRs Agency (H) Mortgage Servicing Rights (I) (J) 7.5% - 18.9% (12.1%) 0.4% - 2.7% (0.9%) 2.7% - 25.5% (15.9%) 25 - 33 (28) 0 - 30 (22) MSR Financing Receivables (I) 11.1% 0.7% 14.7% 25 0 - 30 (23) 7.5% - 18.9% (12.0%) 0.4% - 2.7% (0.9%) 2.7% - 25.5% (15.9%) 25 - 33 (28) 0 - 30 (22) Non-Agency Mortgage Servicing Rights (I) 9.9% - 15.4% (13.5%) 1.0% - 10.2% (4.3%) 3.8% - 25.0% (17.5%) 26 - 88 (48) 0 - 30 (16) MSR Financing Receivables (I) 8.0% 14.4% 8.2% 48 0 - 30 (25) 8.0% - 15.4% (8.1%) 1.0% - 10.2% (14.2%) 3.8% - 25.0% (8.3%) 26 - 88 (48) 0 - 30 (25) Ginnie Mae Mortgage Servicing Rights (I) (J) 9.4% - 24.0% (20.1%) 1.6% - 8.4% (6.5%) 15.9% - 35.0% (22.1%) 32 - 52 (45) 0 - 30 (27) Total/Weighted Average — MSRs 7.5% - 24.0% (12.2%) 0.4% - 10.2% (4.7%) 2.7% - 35.0% (10.0%) 25 - 88 (35) 0 - 30 (23) (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 residential 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 or subservicer, as applicable. (E) Weighted average total mortgage servicing amount, in excess of the basic fee as applicable, measured in basis points (bps). A weighted average cost of subservicing of $6.20 - $7.70 ($6.90) per loan per month was used to value the agency MSRs, including MSR Financing Receivables. A weighted average cost of subservicing of $11.00 per loan per month was used to value the Non-Agency MSRs, including MSR Financing Receivables. A weighted average cost of subservicing of $9.30 per loan per month was used to value the Ginnie Mae MSRs. (F) Weighted average maturity of the underlying residential 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. (H) Represents Fannie Mae and Freddie Mac MSRs. (I) For certain pools, recapture rate represents the expected recapture rate with the successor subservicer appointed by NRM. (J) Includes valuation of the related Excess spread financing (Note 5). As of September 30, 2020, 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 $ 9,035,433 $ 9,362,556 $ 9,420,823 $ — $ 9,420,823 2 Non-Agency RMBS (C) 21,276,175 1,386,243 1,407,539 1,705 1,409,244 3 Total $ 30,311,608 $ 10,748,799 $ 10,828,362 $ 1,705 $ 10,830,067 (A) New Residential generally obtained pricing service quotations or broker quotations from two sources, one of which was generally the seller (the party that sold New Residential the security) for Non-Agency RMBS. 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, for Non-Agency RMBS, 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 83.1% of New Residential’s Non-Agency RMBS, the ranges and weighted averages 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 $ 1,171,657 1.1% to 17.7% (4.2%) 1.0% to 30.0% (13.1%) 0.3% to 4.5% (0.8%) 12.8% to 95.0% (48.0%) (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. (C) Includes New Residential’s investments in interest-only notes for which the fair value option for financial instruments was elected. The following table summarizes certain information regarding the ranges and weighted averages of inputs used in valuing residential mortgage loans held-for-sale, at fair value classified as Level 3: Fair Value Discount Rate Prepayment Rate CDR Loss Severity Acquired loans $ 1,169,628 3.5% - 8.5% (5.1%) —% - 7.0% (4.3%) 2.0% - 7.0% (4.0%) —% -30.0% (17.4%) Originated loans 13,711 2.9% 1.6% 7.0% 10.0% Residential mortgage loans held-for-sale, at fair value $ 1,183,339 The following table summarizes certain information regarding the ranges and weighted averages of inputs used in valuing residential mortgage loans held-for-investment, at fair value classified as Level 3: Fair Value Discount Rate Prepayment Rate CDR Loss Severity Residential mortgage loans held-for-investment, at fair value $ 718,802 6.7% - 9.5% (6.9%) 2.8% - 2.9% (2.8%) 2.0% - 6.5% (6.1%) 30.0% - 49.2% (47.5%) The following table summarizes certain information regarding the ranges and weighted averages of inputs used in valuing consumer loans held-for-investment, at fair value, classified as Level 3: Fair Value Discount Rate Prepayment Rate CDR Loss Severity Consumer loans, held-for-investment, at fair value $ 722,110 8.0% - 10.2% (8.0%) 18.3% - 31.5% (18.4%) 5.5% - 18.0% (5.6%) 82.1% - 90.2% (82.1%) The following table summarizes certain information regarding the ranges and weighted averages of inputs used in valuing IRLCs: Fair Value Loan Funding Probability Fair Value of initial servicing rights (bps) IRLCs (net) $ 245,964 0.0% - 100.0% (81.0%) 6.0 - 253.3 (103.4) The following table summarizes certain information regards the ranges and weighted averages of inputs used in valuing Mortgage-Backed Securities Issued: Fair Value Discount Rate Prepayment Rate CDR Loss Severity Mortgage-backed securities issued $ 1,756,632 1.9% - 5.4% (3.2%) 5.0% - 19.6% (15.1%) 3.0% - 50.0% (9.9%) 20.0% - 95.6% (55.4%)
Summary of Certain Information Regarding the Inputs used in Valuing the Servicer Advances	Servicer Advance Investments Valuation The following table summarizes certain information regarding the ranges and weighted averages of inputs used in valuing the Servicer advance investments, including the basic fee component of the related MSRs: Significant Inputs 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, 2020 1.0% - 1.6% (1.6%) 8.9% - 9.9% (9.9%) 7.2% - 17.4% (17.1%) 16.5 - 19.7 (19.7) bps 5.2% - 5.7% (5.2%) 22 - 23 (22) (A) Projected annual weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector. (B) Mortgage servicing amount is net of 10.2 bps which represents the amount New Residential paid its servicers as a monthly servicing fee. (C) Weighted average maturity of the underlying residential mortgage loans in the pool.
Schedule of Inputs Used in Valuing Residential Mortgage Loans	The following table summarizes the inputs used in valuing these residential mortgage loans as of September 30, 2020: Fair Value and Carrying Value Discount Rate Weighted Average Life (Years) (A) Prepayment Rate CDR (B) Loss Severity (C) Performing loans $ 191,580 4.5% - 9.5% (6.6%) 3.0 - 9.1 (4.9) 5.1% - 7.0% (6.8%) 0.8% - 12.2% (2.5%) 28.7% - 100.0% (40.7%) Non-performing loans 380,925 7.5% - 7.5% (7.5%) 3.0 - 3.0 (3.0) 2.0% - 2.0% (2.0%) 2.9% - 2.9% (2.9%) 30.0% - 30.0% (30.0%) Total/weighted average $ 572,505 7.2% 3.6 3.6% 2.7% 33.6% (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.

CONSOLIDATED VARIABLE INTERES_2

CONSOLIDATED VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following table comprises bonds retained pursuant to required risk retention regulations: As of and for the 2020 2019 Residential mortgage loan UPB $ 14,823,202 $ 11,183,024 Weighted average delinquency (A) 4.82 % 1.97 % Net credit losses $ 50,355 $ 5,738 Face amount of debt held by third parties (B) $ 12,884,341 $ 10,074,690 Carrying value of bonds retained by New Residential (C)(D) $ 1,549,112 $ 1,258,292 Cash flows received by New Residential on these bonds $ 225,545 $ 161,794 (A) Represents the percentage of the UPB that is 60+ days delinquent. (B) Excludes bonds retained by New Residential. (C) Includes bonds retained pursuant to required risk retention regulations. (D) Classified within Level 3 of the fair value hierarchy as the valuation is based on certain unobservable inputs including discount rate, prepayment rates and loss severity. See Note 12 for details on unobservable inputs. The table below presents the carrying value and classification of the assets and liabilities of consolidated VIEs on New Residential’s condensed consolidated balance sheets: The Buyer Shelter Joint Ventures Residential Mortgage Loans Consumer Loan SPVs Total September 30, 2020 Assets Servicer advance investments, at fair value $ 521,882 $ — $ — $ — $ 521,882 Residential mortgage loans, held-for-investment, at fair value — — 390,890 — 390,890 Residential mortgage loans, held-for-sale — — 352,225 — 352,225 Residential mortgage loans, held-for-sale, at fair value — — 622,269 — 622,269 Consumer loans, held-for-investment, at fair value — — — 718,355 718,355 Cash and cash equivalents 40,653 35,642 — — 76,295 Restricted cash 5,044 — — 5,890 10,934 Other assets 6 9,896 6,183 9,850 25,935 Total Assets $ 567,585 $ 45,538 $ 1,371,567 $ 734,095 $ 2,718,785 Liabilities Secured notes and bonds payable (A) $ 404,907 $ — $ 1,091,426 $ 678,950 $ 2,175,283 Accrued expenses and other liabilities 2,237 8,906 1,871 1,686 14,700 Total Liabilities $ 407,144 $ 8,906 $ 1,093,297 $ 680,636 $ 2,189,983 December 31, 2019 Assets Servicer advance investments, at fair value $ 565,271 $ — $ — $ — $ 565,271 Residential mortgage loans, held-for-investment, at fair value — — 913,030 — 913,030 Consumer loans, held-for-investment — — — 818,943 818,943 Cash and cash equivalents 30,065 23,802 — — 53,867 Restricted cash 5,350 — — 9,073 14,423 Other assets 2,414 3,556 — 12,409 18,379 Total Assets $ 603,100 $ 27,358 $ 913,030 $ 840,425 $ 2,383,913 Liabilities Secured notes and bonds payable (A) $ 433,300 $ — $ 659,738 $ 820,658 $ 1,913,696 Accrued expenses and other liabilities 1,593 4,187 10,132 4,126 20,038 Total Liabilities $ 434,893 $ 4,187 $ 669,870 $ 824,784 $ 1,933,734 (A) The creditors of the VIEs do not have recourse to the general credit of New Residential, and the assets of the VIEs are not directly available to satisfy New Residential’s obligations.
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net	Others’ interests in the equity of New Residential’s consolidated subsidiaries is computed as follows: September 30, 2020 December 31, 2019 The Buyer (A) Shelter Joint Ventures Consumer Loan Companies The Buyer (A) Shelter Joint Ventures Consumer Loan Companies Total consolidated equity $ 160,440 $ 36,612 $ 80,782 $ 168,207 $ 23,171 $ 46,510 Others’ ownership interest 26.8 % 50.2 % 46.5 % 26.8 % 49.0 % 46.5 % Others’ interest in equity of consolidated subsidiary $ 42,946 $ 18,365 $ 38,126 $ 45,025 $ 11,354 $ 22,171 Others’ interests in the New Residential’s net income (loss) is computed as follows: Three Months Ended September 30, 2020 2019 The Buyer (A) Shelter Joint Ventures Consumer Loan Companies The Buyer (A) Shelter Joint Ventures Consumer Loan Companies Net income $ 9,761 $ 9,649 $ 9,006 $ 6,288 $ 5,098 $ 22,790 Others’ ownership interest as a percent of total 26.8 % 50.2 % 46.5 % 26.8 % 48.2 % 46.5 % Others’ interest in net income of consolidated subsidiaries $ 2,612 $ 4,840 $ 4,188 $ 1,684 $ 2,457 $ 10,597 (A) As a result, New Residential owned 73.2% and 73.2% of the Buyer, on average during the three months ended September 30, 2020 and 2019, respectively. See Note 11 regarding the financing of Servicer advance investments. Nine Months Ended September 30, 2020 2019 The Buyer (A) Shelter Joint Ventures Consumer Loan Companies The Buyer (A) Shelter Joint Ventures Consumer Loan Companies Net income $ (162) $ 21,017 $ 50,795 $ 16,678 $ 9,144 $ 49,690 Others’ ownership interest as a percent of total 26.8 % 50.2 % 46.5 % 26.8 % 48.2 % 46.5 % Others’ interest in net income of consolidated subsidiaries $ (44) $ 10,542 $ 23,620 $ 4,466 $ 4,407 $ 23,106 (A) As a result, New Residential owned 73.2% and 73.2% of the Buyer, on average during the nine months ended September 30, 2020 and 2019, respectively. See Note 11 regarding the financing of Servicer advance investments.

EQUITY AND EARNINGS PER SHARE (

EQUITY AND EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of ATM Program Activity	The following table summarizes the Company’s ATM Program activity: Quarter Ended Number of Common shares Average price per share Gross Proceeds Fees Net Proceeds March 31, 2020 (A) 97,394 $ 17.06 $ 1,662 $ 12 $ 1,649 June 30, 2020 — — — — — September 30, 2020 — — — — — (A) In connection with the shares sold under the ATM program, New Residential granted options to the Manager relating to 0.01 million shares of New Residential’s common stock at the offering price, which had fair value of approximately $0.2 million as of the grant date.
Schedule of Preferred Shares	The table below summarizes Preferred Shares: Dividends Declared per Share Series Number of Shares Liquidation Preference Issuance Discount Carrying Value Three Months Ended Nine Months Ended Fixed-to-floating rate cumulative redeemable preferred: Preferred Series A, 7.50% issued July 2019 6,210 $ 155,250 3.15 % $ 150,026 $ 0.47 $ 1.41 Preferred Series B, 7.125% issued August 2019 11,300 282,500 3.15 % 273,418 $ 0.45 $ 1.34 Preferred Series C, 6.375% issued February 2020 16,100 402,500 3.15 % 389,548 $ 0.40 $ 1.20 Total 33,610 $ 840,250 $ 812,992
Schedule of Dividends Declared	Common dividends have been declared as follows: Declaration Date Payment Date Per Share Total Amounts Distributed (millions) Quarterly Dividend March 31, 2020 April 2020 $ 0.05 $ 20.8 June 22, 2020 July 2020 $ 0.10 $ 41.6 September 23, 2020 October 2020 $ 0.15 $ —
Schedule of Warrants	The table below summarizes the 2020 Warrants at September 30, 2020: Number of Warrants Weighted Average Exercise Price December 31, 2019 outstanding warrants — $ — Granted 43.4 6.91 Exercised — — Expired — — September 30, 2020 outstanding warrants 43.4 $ 6.91
Summary of Outstanding Options	As of September 30, 2020, New Residential’s outstanding options were summarized as follows: Held by the Manager 10,860,706 Issued to the Manager and subsequently assigned to certain of the Manager’s employees 3,560,949 Issued to the independent directors 7,000 Total 14,428,655 The following table summarizes New Residential’s outstanding options as of September 30, 2020. The last sales price on the New York Stock Exchange for New Residential’s common stock in the quarter ended September 30, 2020 was $7.95 per share. Recipient Date of Grant/ Exercise (A) Number of Unexercised Options Weighted Average Exercise Price (B) Intrinsic Value of Exercisable Options as of Directors Various 7,000 7,000 $ 13.57 $ — Manager (C) 2017 1,130,916 1,130,916 13.95 — Manager (C) 2018 5,320,000 4,552,585 16.67 — Manager (C) 2019 6,351,000 3,692,800 16.14 — Manager (C) 2020 1,619,739 377,939 17.41 — Outstanding 14,428,655 9,761,240 (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. A portion of New Residential’s 2018 dividends was deemed to be a return of capital and the exercise prices were adjusted accordingly. (C) The Manager assigned certain of its options to its employees as follows: Date of Grant to Manager Range of Exercise Total Unexercised 2017 $13.95 1,130,916 2018 $16.55 to $18.02 1,159,833 2019 $15.14 to $16.68 1,270,200 Total 3,560,949 The following table summarizes activity in New Residential’s outstanding options: Amount Weighted Average Exercise Price December 31, 2019 outstanding options 12,808,916 Options granted 1,619,739 $ 17.41 Options exercised — — Options expired unexercised — — September 30, 2020 outstanding options 14,428,655 See table above
Schedule of Basic and Diluted Earnings Per Share	The following table summarizes the basic and diluted earnings per share calculations: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Net income (loss) $ 103,920 $ 244,660 $ (1,459,206) $ 375,552 Noncontrolling interests in income of consolidated subsidiaries 11,640 14,738 34,118 31,979 Dividends on preferred stock 14,359 5,338 39,938 5,338 Net income (loss) attributable to common stockholders $ 77,921 $ 224,584 $ (1,533,262) $ 338,235 Basic weighted average shares of common stock outstanding 415,744,518 415,520,780 415,665,441 406,521,273 Dilutive effect of stock options (A) — 67,458 — 150,699 Dilutive effect of common stock purchase warrants (A) 5,224,108 — — — Diluted weighted average shares of common stock outstanding 420,968,626 415,588,238 415,665,441 406,671,972 Basic earnings per share attributable to common stockholders $ 0.19 $ 0.54 $ (3.69) $ 0.83 Diluted earnings per share attributable to common stockholders $ 0.19 $ 0.54 $ (3.69) $ 0.83 (A) Stock options and common stock purchase warrants that could potentially dilute basic earnings per share in the future were not included in the computation of diluted earnings per share for the periods where a loss has been recorded because they would have been anti-dilutive for the period presented.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The Company excluded the following weighted-average potential common shares from the calculation of diluted net income (loss) per share during the applicable periods because their inclusion would have been anti-dilutive: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Stock options — $ — — $ — Common stock purchase warrants — — 5,966,141 —

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Commitments for Non-Cancelable Leases	As of September 30, 2020, future commitments under the non-cancelable leases are as follows: Year Ending Amount October 1 through December 31, 2020 $ 3,621 2021 12,428 2022 9,635 2023 5,478 2024 2,759 2025 and thereafter 2,148 Total remaining undiscounted lease payments 36,069 Less: imputed interest 4,168 Total remaining discounted lease payments $ 31,901
Other Information Related to Operating Leases	Other information related to operating leases is summarized below: September 30, 2020 December 31, 2019 Weighted-average remaining lease term (years) 3.4 3.9 Weighted-average discount rate 4.5 % 4.5 %

TRANSACTIONS WITH AFFILIATES _2

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Transactions With Affiliates And Affiliated Entities
Schedule of Affiliate Transactions	Due to affiliates is composed of the following amounts: September 30, 2020 December 31, 2019 Management fees $ 7,499 $ 7,076 Incentive compensation — 91,892 Expense reimbursements and other 2,046 4,914 Total $ 9,545 $ 103,882 Affiliate expenses and fees were composed of: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Management fees $ 22,482 $ 20,678 $ 66,682 $ 58,261 Incentive compensation — 36,307 — 49,265 Expense reimbursements (A) 125 125 375 375 Total $ 22,607 $ 57,110 $ 67,057 $ 107,901 (A) Included in General and administrative expenses in the condensed consolidated statements of income.

RECLASSIFICATION FROM ACCUMUL_2

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME (Tables)	9 Months Ended
	Sep. 30, 2020
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: Three Months Ended Nine Months Ended Accumulated Other Comprehensive Income Components Statement of Income Location 2020 2019 2020 2019 Reclassification of net realized (gain) loss on securities into earnings Gain (loss) on settlement of investments, net $ 7,658 $ (95,003) $ (753,551) $ (201,222) Reclassification of net realized (gain) loss on securities into earnings Provision (reversal) for credit losses on securities (3,849) 5,567 15,166 21,942 Total reclassifications $ 3,809 $ (89,436) $ (738,385) $ (179,280)

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense (Benefit)	Income tax expense (benefit) consists of the following: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Current: Federal $ — $ 1,198 $ (7,877) $ 785 State and local 1,438 14 1,496 115 Total current income tax expense (benefit) 1,438 1,212 (6,381) 900 Deferred: Federal 77,300 (5,385) (29,921) 14,762 State and local 22,074 (1,267) (12,345) 3,318 Total deferred income tax expense (benefit) 99,374 (6,652) (42,266) 18,080 Total income tax expense (benefit) $ 100,812 $ (5,440) $ (48,647) $ 18,980

ORGANIZATION AND BASIS OF PRE_3

ORGANIZATION AND BASIS OF PRESENTATION (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Common stock, shares outstanding (in shares)	415,520,780	415,744,518	415,520,780
Number of options (in shares)		14,428,655
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment to retained earnings	$ 549,733	$ (1,094,589)	$ 549,733
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member	us-gaap:AccountingStandardsUpdate201613Member	us-gaap:AccountingStandardsUpdate201613Member
Fortress-managed funds
Related Party Transaction [Line Items]
Common stock, shares outstanding (in shares)		2,400,000
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adjustment to retained earnings	$ 13,700		$ 13,700
Increase attributable to the change in fair value of residential mortgage loans	19,700		19,700
Residential mortgage loans, held-for-sale, at fair value	$ 6,000		$ 6,000

OTHER INCOME (LOSS), GENERAL _3

OTHER INCOME (LOSS), GENERAL AND ADMINISTRATIVE, OTHER ASSETS AND LIABILITIES - Schedule of Change in Fair Value of Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Income Assets And Liabilities
Excess mortgage servicing rights	$ (664)	$ 2,407	$ (11,773)	$ (1,421)
Excess mortgage servicing rights, equity method investees	(393)	4,751	(2,902)	4,087
Mortgage servicing rights financing receivables	(20,275)	(41,410)	(245,906)	(133,200)
Servicer advance investments	3,143	6,641	431	15,932
Real estate and other securities	27,663	(5,054)	(531)	9,010
Residential mortgage loans	56,940	(6,512)	(108,306)	75,095
Consumer loans held-for-investment	(411)	0	(9,634)	0
Derivative instruments	23,089	41,389	4,213	(25,037)
Change in fair value of investments	$ 89,092	$ 2,212	$ (374,408)	$ (55,534)

OTHER INCOME (LOSS), GENERAL _4

OTHER INCOME (LOSS), GENERAL AND ADMINISTRATIVE, OTHER ASSETS AND LIABILITIES - Schedule of Gain (Loss) on Settlement of Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Gain on Settlement of Investments, Net
Gain (loss) on sale of real estate securities	$ 7,658	$ 95,003	$ (753,551)	$ 201,222
Gain (loss) on sale of acquired residential mortgage loans, net	923	43,648	(8,343)	53,405
Gain (loss) on settlement of derivatives	(23,192)	(14,147)	(133,099)	(152,424)
Gain (loss) on liquidated residential mortgage loans	165	(198)	2,546	(3,320)
Gain (loss) on sale of REO	1,016	(3,169)	2,632	(9,445)
Gain (loss) on extinguishment of debt	(66,256)	0	(64,795)	(8,532)
Gain (loss) on Excess MSR recapture agreements	(13,381)	529	(12,191)	1,771
Other gains (losses)	(1,390)	12,004	(2,194)	13,708
Gain (loss) on settlement of investments, net	$ (94,457)	$ 133,670	$ (968,995)	$ 96,385

OTHER INCOME (LOSS), GENERAL _5

OTHER INCOME (LOSS), GENERAL AND ADMINISTRATIVE, OTHER ASSETS AND LIABILITIES - Schedule of Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other income (loss), net
Unrealized gain (loss) on secured notes and bonds payable	$ (5,611)	$ (2,647)	$ 535	$ (5,248)
Unrealized gain (loss) on contingent consideration	(2,079)	(2,703)	(5,949)	(7,430)
Unrealized gain (loss) on equity investments	(4,716)	(500)	(52,413)	(659)
Gain (loss) on transfer of loans to REO	703	1,230	5,010	7,814
Gain (loss) on transfer of loans to other assets	(512)	(101)	(773)	(378)
Gain (loss) on Ocwen common stock	4,342	(1,103)	221	3,134
Provision for servicing losses	(3,734)	25	(19,764)	(901)
Rental and ancillary revenue	23,670	0	63,346	0
Other income (loss)	(6,678)	(24,896)	(24,848)	(23,566)
Total other income (loss), net	$ 5,385	$ (30,695)	$ (34,635)	$ (27,234)

OTHER INCOME (LOSS), GENERAL _6

OTHER INCOME (LOSS), GENERAL AND ADMINISTRATIVE, OTHER ASSETS AND LIABILITIES - Schedule of General and Administrative Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule Of Other Income [Line Items]
Legal and professional expense	$ 22,209	$ 16,442	$ 63,798	$ 46,352
Loan origination expense	29,935	17,882	75,970	42,349
Occupancy expense	9,356	5,114	26,195	14,079
Subservicing expense	55,376	52,875	159,679	147,763
Loan servicing expense	8,311	7,192	23,313	26,167
Other	24,236	19,311	98,244	48,383
General and Administrative Expense	316,560	193,580	859,601	525,289
Servicing
Schedule Of Other Income [Line Items]
Compensation and benefits expense	68,595	30,494	179,434	87,219
Origination
Schedule Of Other Income [Line Items]
Compensation and benefits expense	$ 98,542	$ 44,270	$ 232,968	$ 112,977

OTHER INCOME (LOSS), GENERAL _7

OTHER INCOME (LOSS), GENERAL AND ADMINISTRATIVE, OTHER ASSETS AND LIABILITIES - Schedule of Other Assets and Liabilities (Details) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Other Assets
Margin receivable, net		$ 48,050	$ 280,176
Servicing fee receivables		113,994	159,607
Due from servicers		92,500	163,961
Principal and interest receivable		64,391	85,191
Equity investment		59,771	114,763
Other receivables		109,530	117,045
Real Estate Owned		49,872	93,672
Single-family rental properties		25,570	24,133
Goodwill		29,468	29,737
Notes Receivable		50,516	37,001
Warrants, at fair value		22,799	28,042
Recovery asset		15,310	23,100
Property and equipment		27,279	18,018
Receivable from government agency		16,823	19,670
Intangible assets		35,074	40,963
Prepaid expenses		21,757	19,249
Operating lease right-of-use assets		27,218	32,120
Derivative assets (Note 10)		255,496	41,501
Ocwen common stock, at fair value		8,172	7,952
Deferred tax asset, net		49,545	8,669
Other assets		38,798	51,230
Other Assets		1,161,933	1,395,800
Accrued Expenses and Other Liabilities
MSR purchase price holdback		31,167	75,348
Interest payable		33,195	68,668
Accounts payable		120,116	119,771
Derivative liabilities (Note 10)		37,820	6,885
Due to servicers		65,212	85,728
Due to Agencies		25,659	42,118
Contingent Consideration		13,628	55,222
Accrued compensation and benefits		71,184	41,228
Excess spread financing, at fair value		20,129	31,777
Operating Lease, Liability		31,901	38,520
Reserve for sales recourse		9,624	12,549
Reserve for servicing losses		19,657	0
Other liabilities		18,546	22,976
Accrued Expenses and Other Liabilities	[1]	$ 497,838	$ 600,790
[1]	See Note 13 regarding consolidated VIEs.

OTHER INCOME (LOSS), GENERAL _8

OTHER INCOME (LOSS), GENERAL AND ADMINISTRATIVE, OTHER ASSETS AND LIABILITIES - Schedule of Accretion and Other Amortization (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Accretion and other amortization:
Accretion of net discount on securities and loans	$ 81,112	$ 266,467
Accretion of servicer advances receivable discount and servicer advance investments	38,967	18,290
Accretion of excess mortgage servicing rights income	25,177	18,203
Amortization of deferred financing costs	(12,352)	(2,984)
Accretion of loan discount and premium amortization, net	127,456	298,933
Secured Notes and Bonds Payable
Accretion and other amortization:
Amortization of discount on secured notes and bonds payable	(379)	(1,043)
Term Loan
Accretion and other amortization:
Amortization of discount on secured notes and bonds payable	$ (5,069)	$ 0

OTHER INCOME (LOSS), GENERAL _9

OTHER INCOME (LOSS), GENERAL AND ADMINISTRATIVE, OTHER ASSETS AND LIABILITIES - Real Estate Owned (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Real Estate Owned [Roll Forward]
Beginning balance	$ 93,672
Purchases	3,910
Transfer of loans to REO	31,764
Sales	(82,100)
Valuation (provision) reversal on REO	(2,626)
Ending balance	49,872
Early buy-out and reverse mortgage loans, foreclosure completed
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Claims receivable	16,500
Residential Mortgage
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Unpaid principal balance	$ 437,800

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Interest income	$ 233,848	$ 448,127	$ 868,419	$ 1,303,041
Servicing revenue, net	(43,929)	53,050	(459,313)	133,366
Gain on originated mortgage loans, held-for-sale, net	495,098	126,747	984,818	294,935
Revenues	685,017	627,924	1,393,924	1,731,342
Interest expense	130,528	245,902	463,786	686,738
General and administrative expenses	339,042	250,565	926,283	632,815
Total operating expenses	469,570	496,467	1,390,069	1,319,553
Other income (loss)	20	102,640	(1,378,038)	12,727
Impairment	10,735	(5,123)	133,670	29,984
Income (Loss) Before Income Taxes	204,732	239,220	(1,507,853)	394,532
Income tax expense (benefit)	100,812	(5,440)	(48,647)	18,980
Net income (loss)	103,920	244,660	(1,459,206)	375,552
Noncontrolling interests in income (loss) of consolidated subsidiaries	11,640	14,738	34,118	31,979
Dividends on Preferred Stock	14,359	5,338	39,938	5,338
Net Income (Loss) Attributable to Common Stockholders	77,921	224,584	(1,533,262)	338,235
Investments	23,036,611		23,036,611
Cash and cash equivalents	841,022		841,022
Restricted cash	180,554		180,554			$ 162,197
Other assets	6,318,709		6,318,709
Goodwill	29,468		29,468			29,737
Total assets	30,406,364		30,406,364			44,863,454
Debt	22,942,274		22,942,274
Other liabilities	2,035,459		2,035,459
Total liabilities	24,977,733		24,977,733			37,627,194
Total equity	5,428,631	7,262,117	5,428,631	7,262,117	$ 5,388,972	7,236,260	$ 6,800,830	$ 6,088,295
Noncontrolling interests in equity of consolidated subsidiaries	99,437		99,437			78,550
Total New Residential stockholders’ equity	5,329,194		5,329,194			$ 7,157,710
Investments in equity method investees	139,351		139,351
Operating | Servicing and Origination
Segment Reporting Information [Line Items]
Interest income	109,356	149,077	351,395	428,293
Servicing revenue, net	(43,929)	53,050	(459,313)	133,366
Gain on originated mortgage loans, held-for-sale, net	495,098	105,136	978,156	232,536
Revenues	560,525	307,263	870,238	794,195
Interest expense	70,717	69,679	208,495	208,048
General and administrative expenses	296,684	170,444	777,141	459,620
Total operating expenses	367,401	240,123	985,636	667,668
Other income (loss)	(19,630)	(43,142)	(266,355)	(131,385)
Impairment	218	0	127	0
Income (Loss) Before Income Taxes	173,276	23,998	(381,880)	(4,858)
Income tax expense (benefit)	93,030	10,749	15,724	8,474
Net income (loss)	80,246	13,249	(397,604)	(13,332)
Noncontrolling interests in income (loss) of consolidated subsidiaries	7,452	4,141	10,498	8,873
Dividends on Preferred Stock	0	0	0	0
Net Income (Loss) Attributable to Common Stockholders	72,794	9,108	(408,102)	(22,205)
Investments	8,597,086		8,597,086
Cash and cash equivalents	557,228		557,228
Restricted cash	138,464		138,464
Other assets	5,027,395		5,027,395
Goodwill	29,468		29,468
Total assets	14,349,641		14,349,641
Debt	8,600,386		8,600,386
Other liabilities	1,889,872		1,889,872
Total liabilities	10,490,258		10,490,258
Total equity	3,859,383		3,859,383
Noncontrolling interests in equity of consolidated subsidiaries	61,311		61,311
Total New Residential stockholders’ equity	3,798,072		3,798,072
Investments in equity method investees	139,351		139,351
Operating | Consumer Loans
Segment Reporting Information [Line Items]
Interest income	29,545	40,331	97,204	128,575
Servicing revenue, net	0	0	0	0
Gain on originated mortgage loans, held-for-sale, net	0	0	0	0
Revenues	29,545	40,331	97,204	128,575
Interest expense	5,809	7,493	18,691	25,518
General and administrative expenses	3,361	3,965	10,947	18,396
Total operating expenses	9,170	11,458	29,638	43,914
Other income (loss)	(5,240)	(2,651)	(16,007)	(10,324)
Impairment	0	5,863	0	24,599
Income (Loss) Before Income Taxes	15,135	20,359	51,559	49,738
Income tax expense (benefit)	(1)	(643)	130	(542)
Net income (loss)	15,136	21,002	51,429	50,280
Noncontrolling interests in income (loss) of consolidated subsidiaries	4,188	10,597	23,620	23,106
Dividends on Preferred Stock	0	0	0	0
Net Income (Loss) Attributable to Common Stockholders	10,948	10,405	27,809	27,174
Investments	722,108		722,108
Cash and cash equivalents	7,195		7,195
Restricted cash	29,367		29,367
Other assets	59,968		59,968
Goodwill	0		0
Total assets	818,638		818,638
Debt	681,109		681,109
Other liabilities	5,425		5,425
Total liabilities	686,534		686,534
Total equity	132,104		132,104
Noncontrolling interests in equity of consolidated subsidiaries	38,126		38,126
Total New Residential stockholders’ equity	93,978		93,978
Investments in equity method investees	0		0
Eliminations
Segment Reporting Information [Line Items]
Interest income	0	0	0	0
Servicing revenue, net	(70,595)	(19,636)	(156,513)	(46,549)
Gain on originated mortgage loans, held-for-sale, net	38,990	(14,892)	26,054	(34,195)
Revenues	(31,605)	(34,528)	(130,459)	(80,744)
Interest expense	0	0	0	0
General and administrative expenses	(70,595)	(19,636)	(156,513)	(46,549)
Total operating expenses	(70,595)	(19,636)	(156,513)	(46,549)
Other income (loss)	0	0	0	0
Impairment	0	0	0	0
Income (Loss) Before Income Taxes	38,990	(14,892)	26,054	(34,195)
Income tax expense (benefit)	0	0	0	0
Net income (loss)	38,990	(14,892)	26,054	(34,195)
Noncontrolling interests in income (loss) of consolidated subsidiaries	0	0	0	0
Dividends on Preferred Stock	0	0	0	0
Net Income (Loss) Attributable to Common Stockholders	38,990	(14,892)	26,054	(34,195)
Investments	0		0
Cash and cash equivalents	0		0
Restricted cash	0		0
Other assets	0		0
Goodwill	0		0
Total assets	0		0
Debt	0		0
Other liabilities	0		0
Total liabilities	0		0
Total equity	0		0
Noncontrolling interests in equity of consolidated subsidiaries	0		0
Total New Residential stockholders’ equity	0		0
Investments in equity method investees	0		0
Corporate
Segment Reporting Information [Line Items]
Interest income	0	0	0	0
Servicing revenue, net	0	0	0	0
Gain on originated mortgage loans, held-for-sale, net	0	0	0	0
Revenues	0	0	0	0
Interest expense	19,024	0	27,690	0
General and administrative expenses	27,706	62,655	83,672	121,730
Total operating expenses	46,730	62,655	111,362	121,730
Other income (loss)	(56,750)	(1,189)	(103,519)	4,515
Impairment	0	0	0	0
Income (Loss) Before Income Taxes	(103,480)	(63,844)	(214,881)	(117,215)
Income tax expense (benefit)	0	0	0	0
Net income (loss)	(103,480)	(63,844)	(214,881)	(117,215)
Noncontrolling interests in income (loss) of consolidated subsidiaries	0	0	0	0
Dividends on Preferred Stock	14,359	5,338	39,938	5,338
Net Income (Loss) Attributable to Common Stockholders	(117,839)	(69,182)	(254,819)	(122,553)
Investments	0		0
Cash and cash equivalents	111,154		111,154
Restricted cash	0		0
Other assets	32,105		32,105
Goodwill	0		0
Total assets	143,259		143,259
Debt	541,758		541,758
Other liabilities	84,833		84,833
Total liabilities	626,591		626,591
Total equity	(483,332)		(483,332)
Noncontrolling interests in equity of consolidated subsidiaries	0		0
Total New Residential stockholders’ equity	(483,332)		(483,332)
Investments in equity method investees	0		0
Origination | Operating | Servicing and Origination
Segment Reporting Information [Line Items]
Interest income	17,407	10,880	43,105	25,744
Servicing revenue, net	(3,767)	(548)	(6,843)	(1,215)
Gain on originated mortgage loans, held-for-sale, net	445,578	104,126	885,730	228,881
Revenues	459,218	114,458	921,992	253,410
Interest expense	10,977	10,359	30,071	24,012
General and administrative expenses	136,086	67,708	338,760	169,980
Total operating expenses	147,063	78,067	368,831	193,992
Other income (loss)	123	(149)	497	808
Impairment	0	0	0	0
Income (Loss) Before Income Taxes	312,278	36,242	553,658	60,226
Income tax expense (benefit)	71,304	9,674	138,304	16,075
Net income (loss)	240,974	26,568	415,354	44,151
Noncontrolling interests in income (loss) of consolidated subsidiaries	4,840	2,457	10,542	4,407
Dividends on Preferred Stock	0	0	0	0
Net Income (Loss) Attributable to Common Stockholders	236,134	24,111	404,812	39,744
Investments	2,843,720		2,843,720
Cash and cash equivalents	99,321		99,321
Restricted cash	3,929		3,929
Other assets	369,988		369,988
Goodwill	11,836		11,836
Total assets	3,328,794		3,328,794
Debt	2,612,817		2,612,817
Other liabilities	165,022		165,022
Total liabilities	2,777,839		2,777,839
Total equity	550,955		550,955
Noncontrolling interests in equity of consolidated subsidiaries	18,365		18,365
Total New Residential stockholders’ equity	532,590		532,590
Investments in equity method investees	0		0
Servicing | Operating | Servicing and Origination
Segment Reporting Information [Line Items]
Interest income	373	8,847	8,975	23,181
Servicing revenue, net	111,420	54,646	295,047	146,730
Gain on originated mortgage loans, held-for-sale, net	346	348	948	681
Revenues	112,139	63,841	304,970	170,592
Interest expense	90	264	397	737
General and administrative expenses	81,767	41,850	220,026	118,329
Total operating expenses	81,857	42,114	220,423	119,066
Other income (loss)	0	0	499	0
Impairment	0	0	0	0
Income (Loss) Before Income Taxes	30,282	21,727	85,046	51,526
Income tax expense (benefit)	6,044	5,799	21,244	13,753
Net income (loss)	24,238	15,928	63,802	37,773
Noncontrolling interests in income (loss) of consolidated subsidiaries	0	0	0	0
Dividends on Preferred Stock	0	0	0	0
Net Income (Loss) Attributable to Common Stockholders	24,238	15,928	63,802	37,773
Investments	0		0
Cash and cash equivalents	50,942		50,942
Restricted cash	32,369		32,369
Other assets	191,398		191,398
Goodwill	12,540		12,540
Total assets	287,249		287,249
Debt	6,669		6,669
Other liabilities	63,657		63,657
Total liabilities	70,326		70,326
Total equity	216,923		216,923
Noncontrolling interests in equity of consolidated subsidiaries	0		0
Total New Residential stockholders’ equity	216,923		216,923
Investments in equity method investees	0		0
MSR Related Investments | Operating | Servicing and Origination
Segment Reporting Information [Line Items]
Interest income	91,576	129,350	299,315	379,368
Servicing revenue, net	(80,987)	18,588	(591,004)	34,400
Gain on originated mortgage loans, held-for-sale, net	10,184	15,554	65,424	37,169
Revenues	20,773	163,492	(226,265)	450,937
Interest expense	59,650	59,056	178,027	183,299
General and administrative expenses	149,426	80,522	374,868	217,860
Total operating expenses	209,076	139,578	552,895	401,159
Other income (loss)	(19,753)	(42,993)	(267,351)	(132,193)
Impairment	218	0	127	0
Income (Loss) Before Income Taxes	(208,274)	(19,079)	(1,046,638)	(82,415)
Income tax expense (benefit)	15,682	(4,724)	(143,824)	(21,354)
Net income (loss)	(223,956)	(14,355)	(902,814)	(61,061)
Noncontrolling interests in income (loss) of consolidated subsidiaries	2,612	1,684	(44)	4,466
Dividends on Preferred Stock	0	0	0	0
Net Income (Loss) Attributable to Common Stockholders	(226,568)	(16,039)	(902,770)	(65,527)
Investments	5,753,366		5,753,366
Cash and cash equivalents	406,965		406,965
Restricted cash	102,166		102,166
Other assets	4,466,009		4,466,009
Goodwill	5,092		5,092
Total assets	10,733,598		10,733,598
Debt	5,980,900		5,980,900
Other liabilities	1,661,193		1,661,193
Total liabilities	7,642,093		7,642,093
Total equity	3,091,505		3,091,505
Noncontrolling interests in equity of consolidated subsidiaries	42,946		42,946
Total New Residential stockholders’ equity	3,048,559		3,048,559
Investments in equity method investees	139,351		139,351
Real Estate Securities | Operating | Residential Securities and Loans
Segment Reporting Information [Line Items]
Interest income	61,034	184,933	278,702	557,895
Servicing revenue, net	0	0	0	0
Gain on originated mortgage loans, held-for-sale, net	0	0	0	0
Revenues	61,034	184,933	278,702	557,895
Interest expense	15,652	123,023	141,340	330,992
General and administrative expenses	930	1,839	8,128	4,124
Total operating expenses	16,582	124,862	149,468	335,116
Other income (loss)	36,941	116,081	(881,261)	31,677
Impairment	(3,849)	5,567	15,166	21,942
Income (Loss) Before Income Taxes	85,242	170,585	(767,193)	232,514
Income tax expense (benefit)	0	0	0	0
Net income (loss)	85,242	170,585	(767,193)	232,514
Noncontrolling interests in income (loss) of consolidated subsidiaries	0	0	0	0
Dividends on Preferred Stock	0	0	0	0
Net Income (Loss) Attributable to Common Stockholders	85,242	170,585	(767,193)	232,514
Investments	10,830,067		10,830,067
Cash and cash equivalents	160,764		160,764
Restricted cash	12,723		12,723
Other assets	1,005,847		1,005,847
Goodwill	0		0
Total assets	12,009,401		12,009,401
Debt	10,877,414		10,877,414
Other liabilities	9,633		9,633
Total liabilities	10,887,047		10,887,047
Total equity	1,122,354		1,122,354
Noncontrolling interests in equity of consolidated subsidiaries	0		0
Total New Residential stockholders’ equity	1,122,354		1,122,354
Investments in equity method investees	0		0
Residential Mortgage Loans | Operating | Residential Securities and Loans
Segment Reporting Information [Line Items]
Interest income	33,913	73,786	141,118	188,278
Servicing revenue, net	0	0	0	0
Gain on originated mortgage loans, held-for-sale, net	0	21,611	6,662	62,399
Revenues	33,913	95,397	147,780	250,677
Interest expense	19,326	45,707	67,570	122,180
General and administrative expenses	10,361	11,662	46,395	28,945
Total operating expenses	29,687	57,369	113,965	151,125
Other income (loss)	44,699	33,541	(110,896)	118,244
Impairment	14,366	(16,553)	118,377	(16,557)
Income (Loss) Before Income Taxes	34,559	88,122	(195,458)	234,353
Income tax expense (benefit)	7,783	(15,546)	(64,501)	11,048
Net income (loss)	26,776	103,668	(130,957)	223,305
Noncontrolling interests in income (loss) of consolidated subsidiaries	0	0	0	0
Dividends on Preferred Stock	0	0	0	0
Net Income (Loss) Attributable to Common Stockholders	26,776	$ 103,668	(130,957)	$ 223,305
Investments	2,887,350		2,887,350
Cash and cash equivalents	4,681		4,681
Restricted cash	0		0
Other assets	193,394		193,394
Goodwill	0		0
Total assets	3,085,425		3,085,425
Debt	2,241,607		2,241,607
Other liabilities	45,696		45,696
Total liabilities	2,287,303		2,287,303
Total equity	798,122		798,122
Noncontrolling interests in equity of consolidated subsidiaries	0		0
Total New Residential stockholders’ equity	798,122		798,122
Investments in equity method investees	$ 0		$ 0

INVESTMENTS IN EXCESS MORTGAG_3

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS - Schedule of Excess Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Servicing Assets at Fair Value [Line Items]
New Residential’s investment	$ 4,781,624	$ 5,686,233
Excess MSRs And Excess Mortgage Servicing Rights Investees
Servicing Assets at Fair Value [Line Items]
New Residential’s investment	435,982	505,343
Excess MSRs
Servicing Assets at Fair Value [Line Items]
New Residential’s investment	328,623	379,747
Excess MSRs Investees
Servicing Assets at Fair Value [Line Items]
New Residential’s investment	$ 107,359	$ 125,596

INVESTMENTS IN EXCESS MORTGAG_4

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS - Schedule of Activity Related to the Carrying Value of Investments in Excess MSRs (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Carrying Value of Investments in Excess MSRs
Beginning balance	$ 5,686,233
Ending balance	4,781,624
Excess MSRs
Carrying Value of Investments in Excess MSRs
Beginning balance	379,747
Interest income	25,176
Other income	(12,175)
Proceeds from repayments	(52,291)
Proceeds from sales	(61)
Change in fair value	(11,773)
Ending balance	328,623
Excess MSRs | Mr. Cooper
Carrying Value of Investments in Excess MSRs
Beginning balance	377,692
Interest income	25,167
Other income	(12,175)
Proceeds from repayments	(51,980)
Proceeds from sales	(61)
Change in fair value	(11,939)
Ending balance	326,704
Excess MSRs | SLS
Carrying Value of Investments in Excess MSRs
Beginning balance	2,055
Interest income	9
Other income	0
Proceeds from repayments	(311)
Proceeds from sales	0
Change in fair value	166
Ending balance	$ 1,919

INVESTMENTS IN EXCESS MORTGAG_5

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS - Summary of Direct Investments in Excess MSRs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Weighted Average Life (Years)			2 years 3 months 18 days
Carrying Value	$ 4,781,624		$ 4,781,624		$ 5,686,233
Servicer advance investments | Servicer Advances
Schedule of Equity Method Investments [Line Items]
UPB of Underlying Mortgages	27,484,426		27,484,426		31,442,267
Original and Recaptured Pools
Schedule of Equity Method Investments [Line Items]
Original and Recaptured Pools	(664)	$ 2,407	(11,773)	$ (1,421)
Excess MSRs
Schedule of Equity Method Investments [Line Items]
UPB of Underlying Mortgages	77,351,569		$ 77,351,569
Weighted Average Life (Years)			6 years 1 month 6 days
Servicing Asset at Amortized Cost	264,127		$ 264,127
Carrying Value	328,623		328,623		379,747
Excess MSRs | Mr. Cooper
Schedule of Equity Method Investments [Line Items]
Carrying Value	326,704		326,704		377,692
Excess MSRs | Agency | Original and Recaptured Pools
Schedule of Equity Method Investments [Line Items]
UPB of Underlying Mortgages	37,356,300		$ 37,356,300
Weighted Average Life (Years)			5 years 9 months 18 days
Servicing Asset at Amortized Cost	150,403		$ 150,403
Carrying Value	$ 173,549		$ 173,549		209,633
Excess MSRs | Agency | Original and Recaptured Pools | Minimum
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	32.50%		32.50%
Excess MSRs | Agency | Original and Recaptured Pools | Maximum
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	66.70%		66.70%
Excess MSRs | Agency | Original and Recaptured Pools | Weighted Average
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	53.30%		53.30%
Excess MSRs | Agency | Fortress-managed funds | Original and Recaptured Pools | Minimum
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	0.00%		0.00%
Excess MSRs | Agency | Fortress-managed funds | Original and Recaptured Pools | Maximum
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	40.00%		40.00%
Excess MSRs | Agency | Mr. Cooper | Original and Recaptured Pools | Minimum
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	20.00%		20.00%
Excess MSRs | Agency | Mr. Cooper | Original and Recaptured Pools | Maximum
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	35.00%		35.00%
Excess MSRs | Non-Agency | Original and Recaptured Pools
Schedule of Equity Method Investments [Line Items]
UPB of Underlying Mortgages	$ 39,995,269		$ 39,995,269
Weighted Average Life (Years)			6 years 7 months 6 days
Servicing Asset at Amortized Cost	113,724		$ 113,724
Carrying Value	$ 155,074		$ 155,074		$ 170,114
Excess MSRs | Non-Agency | Original and Recaptured Pools | Minimum
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	33.30%		33.30%
Excess MSRs | Non-Agency | Original and Recaptured Pools | Maximum
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	100.00%		100.00%
Excess MSRs | Non-Agency | Original and Recaptured Pools | Weighted Average
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	59.40%		59.40%
Excess MSRs | Non-Agency | Fortress-managed funds | Original and Recaptured Pools | Minimum
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	0.00%		0.00%
Excess MSRs | Non-Agency | Fortress-managed funds | Original and Recaptured Pools | Maximum
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	50.00%		50.00%
Excess MSRs | Non-Agency | Mr. Cooper | Original and Recaptured Pools | Minimum
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	0.00%		0.00%
Excess MSRs | Non-Agency | Mr. Cooper | Original and Recaptured Pools | Maximum
Schedule of Equity Method Investments [Line Items]
Interest in Excess MSR	33.30%		33.30%

INVESTMENTS IN EXCESS MORTGAG_6

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS - Narrative (Details) - MSRs	9 Months Ended
	Sep. 30, 2020
Schedule of Equity Method Investments [Line Items]
Discount rate	7.70%
Excess MSRs Investees
Schedule of Equity Method Investments [Line Items]
Discount rate	7.80%

INVESTMENTS IN EXCESS MORTGAG_7

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS - Summary of Financial Results of Excess MSR Joint Ventures (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Schedule of Investments in Mortgage Servicing Rights [Line Items]
Equity	$ 5,428,631	$ 7,262,117	$ 5,428,631	$ 7,262,117	$ 5,388,972	$ 7,236,260	$ 6,800,830	$ 6,088,295
New Residential’s investment	4,781,624		4,781,624			5,686,233
Net income (loss)	103,920	244,660	(1,459,206)	375,552
Excess MSRs Investees
Schedule of Investments in Mortgage Servicing Rights [Line Items]
Excess MSR assets	190,246		190,246			226,843
Other assets	25,158		25,158			25,035
New Residential’s investment	$ 107,359		$ 107,359			$ 125,596
New Residential’s ownership	50.00%		50.00%			50.00%
Interest income	$ 12,249	7,990	$ 20,099	12,251
Other income (loss)	(13,027)	1,528	(25,879)	(4,029)
Expenses	(8)	(16)	(24)	(48)
Excess MSRs Investees | Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Schedule of Investments in Mortgage Servicing Rights [Line Items]
Other liabilities	(687)		(687)			$ (687)
Equity	214,717		214,717			$ 251,191
Net income (loss)	(786)	$ 9,502	(5,804)	$ 8,174
MSRs
Schedule of Investments in Mortgage Servicing Rights [Line Items]
New Residential’s investment	$ 3,651,805		$ 3,651,805

INVESTMENTS IN EXCESS MORTGAG_8

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS - Summary of Equity Method Investees Changed - Roll Forward (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Increase (Decrease) in Equity Method Investments [Roll Forward]
Distributions of capital from equity method investees	$ 0	$ (55,848)
Recurring Basis
Increase (Decrease) in Equity Method Investments [Roll Forward]
Beginning balance	125,596
Distributions of earnings from equity method investees	(1,170)
Distributions of capital from equity method investees	(14,165)
Change in fair value of investments in equity method investees	(2,902)
Ending balance	$ 107,359

INVESTMENTS IN EXCESS MORTGAG_9

INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS ASSETS - Summary of Excess MSRs Made Through Equity Method Investees (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Schedule of Investments in Mortgage Servicing Rights [Line Items]
Carrying Value	$ 4,781,624	$ 5,686,233
Weighted Average Life (Years)	2 years 3 months 18 days
Excess MSRs Investees
Schedule of Investments in Mortgage Servicing Rights [Line Items]
New Residential Interest in Investees	50.00%	50.00%
Carrying Value	$ 107,359	$ 125,596
Excess MSRs Investees | Agency
Schedule of Investments in Mortgage Servicing Rights [Line Items]
New Residential Interest in Investees	50.00%
Excess MSRs Investees | Agency | Agency
Schedule of Investments in Mortgage Servicing Rights [Line Items]
Unpaid Principal Balance	$ 30,232,940
Investee Interest in Excess MSR	66.70%
New Residential Interest in Investees	50.00%
Amortized Cost Basis	$ 146,014
Carrying Value	$ 190,246
Weighted Average Life (Years)	5 years 8 months 12 days

INVESTMENTS IN MORTGAGE SERVI_3

INVESTMENTS IN MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020		Sep. 30, 2019	Dec. 31, 2019		Jan. 31, 2018	Jul. 31, 2017
Schedule of MSRs [Line Items]
Residential mortgage loans subject to repurchase	$ 1,458,325	[1]	$ 168,532	$ 172,336	[1]
Residential mortgage loans, held-for-sale	4,936,826			$ 6,042,664
Reserve for non-recovery advances	18,200
Ginnie Mae Loans
Schedule of MSRs [Line Items]
Residential mortgage loans subject to repurchase	1,458,300
Residential mortgage loans, held-for-sale	491,400
Mortgage Loans Subserviced
Schedule of MSRs [Line Items]
UPB of Underlying Mortgages	77,100,000		54,700,000
Subservicing revenue	$ 138,600		$ 99,700
Ocwen
Schedule of MSRs [Line Items]
UPB of Underlying Mortgages						$ 86,800,000	$ 110,000,000
LoanCare
Schedule of MSRs [Line Items]
Subservicer percent of UPB	19.10%
PHH Mortgage Corporation
Schedule of MSRs [Line Items]
Subservicer percent of UPB	18.50%
Mr. Cooper
Schedule of MSRs [Line Items]
Subservicer percent of UPB	17.10%
Flagstar Bank
Schedule of MSRs [Line Items]
Subservicer percent of UPB	0.70%
NewRez
Schedule of MSRs [Line Items]
Subservicer percent of UPB	44.60%
Ocwen | New Residential Mortgage LLC
Schedule of MSRs [Line Items]
Unpaid principal balance of underlying loans, transferred	$ 66,700,000
[1]	See Note 8 for details.

INVESTMENTS IN MORTGAGE SERVI_4

INVESTMENTS IN MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES - Schedule of Carrying Value of Investments in MSRs and MSR Financing Receivables (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Activity related to carrying value of investments in mortgage servicing rights [Roll Forward]
Beginning balance			$ 5,686,233
Purchases, net			428,737
Transfers			0
Originations			424,451
Proceeds from sales			(14,160)
Amortization of servicing rights			(1,141,567)
Change in valuation inputs and assumptions			(604,433)
(Gain) loss realized			2,363
Ending balance	$ 4,781,624		4,781,624
MSRs
Activity related to carrying value of investments in mortgage servicing rights [Roll Forward]
Beginning balance			3,967,960
Purchases, net			446,964
Transfers			320,613
Originations			424,451
Proceeds from sales			(10,452)	$ (1,047)
Amortization of servicing rights			(959,482)
Change in valuation inputs and assumptions			(542,361)
(Gain) loss realized	(3,547)	$ 2,229	4,112	2,229
Ending balance	3,651,805		3,651,805
Mortgage Servicing Rights Financing Receivable
Activity related to carrying value of investments in mortgage servicing rights [Roll Forward]
Ending balance	1,129,819		1,129,819
New Residential Mortgage LLC | Mortgage Servicing Rights Financing Receivable | MSRs
Activity related to carrying value of investments in mortgage servicing rights [Roll Forward]
Beginning balance			1,718,273
Purchases, net			(18,227)
Transfers			(320,613)
Originations			0
Proceeds from sales			(3,708)	(15,575)
Amortization of servicing rights			(182,085)
Change in valuation inputs and assumptions	15,859	9,349	(62,072)	1,437
(Gain) loss realized	0	$ (2,419)	(1,749)	$ (3,220)
Ending balance	$ 1,129,819		$ 1,129,819

INVESTMENTS IN MORTGAGE SERVI_5

INVESTMENTS IN MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES - Schedule of Servicing Fee Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Servicing Asset at Amortized Cost [Line Items]
Less: subservicing expense	$ (55,376)	$ (52,875)	$ (159,679)	$ (147,763)
(Gain) loss realized			2,363
Servicing revenue, net	(43,929)	53,050	(459,313)	133,366
Change in valuation inputs and assumptions			(604,433)
Mortgage servicing rights financing receivables	(20,275)	(41,410)	(245,906)	(133,200)
MSRs
Servicing Asset at Amortized Cost [Line Items]
Servicing fee revenue	320,880	222,966	945,568	602,241
Ancillary and other fees	30,255	58,489	80,591	151,039
Servicing fee revenue and fees	351,135	281,455	1,026,159	753,280
Amortization of servicing rights	(473,490)	(168,776)	(953,430)	(346,772)
Change in valuation inputs and assumptions	81,973	(61,858)	(536,154)	(275,371)
(Gain) loss realized	(3,547)	2,229	4,112	2,229
Servicing revenue, net	(43,929)	53,050	(459,313)	133,366
Change in valuation inputs and assumptions			(542,361)
MSRs | Excess Spread Financing
Servicing Asset at Amortized Cost [Line Items]
Change in valuation inputs and assumptions	(200)	(3,600)	6,200	4,400
MSRs | New Residential Mortgage LLC | Mortgage Servicing Rights Financing Receivable
Servicing Asset at Amortized Cost [Line Items]
Servicing fee revenue	83,493	128,936	303,936	385,306
Ancillary and other fees	16,231	21,417	59,947	82,695
Less: subservicing expense	(35,655)	(40,410)	(117,689)	(145,649)
Servicing fee revenue and fees	64,069	109,943	246,194	322,352
Amortization of servicing rights	(36,134)	(48,340)	(182,085)	(131,417)
(Gain) loss realized	0	(2,419)	(1,749)	(3,220)
Change in valuation inputs and assumptions	15,859	9,349	(62,072)	1,437
Mortgage servicing rights financing receivables	$ (20,275)	$ (41,410)	$ (245,906)	$ (133,200)

INVESTMENTS IN MORTGAGE SERVI_6

INVESTMENTS IN MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES - Schedule of Investment in MSRs (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020		Dec. 31, 2019		Sep. 30, 2019
Servicing Asset at Amortized Cost [Line Items]
Weighted Average Life (Years)	2 years 3 months 18 days
Carrying Value	$ 4,781,624		$ 5,686,233
Residential mortgage loans subject to repurchase	1,458,325	[1]	$ 172,336	[1]	$ 168,532
Ginnie Mae Loans
Servicing Asset at Amortized Cost [Line Items]
Residential mortgage loans subject to repurchase	1,458,300
Mortgage Servicing Rights and Mortgage Servicing Rights Financing Receivable
Servicing Asset at Amortized Cost [Line Items]
UPB of Underlying Mortgages	$ 461,619,448
Weighted Average Life (Years)	5 years 7 months 6 days
Carrying Value	$ 4,781,624
MSRs
Servicing Asset at Amortized Cost [Line Items]
UPB of Underlying Mortgages	$ 386,369,641
Weighted Average Life (Years)	5 years 2 months 12 days
Carrying Value	$ 3,651,805
Discount rate	7.70%
Mortgage Servicing Rights Financing Receivable
Servicing Asset at Amortized Cost [Line Items]
UPB of Underlying Mortgages	$ 75,249,807
Weighted Average Life (Years)	7 years 7 months 6 days
Carrying Value	$ 1,129,819
Discount rate	9.40%
Agency | MSRs
Servicing Asset at Amortized Cost [Line Items]
UPB of Underlying Mortgages	$ 323,473,921
Weighted Average Life (Years)	5 years 4 months 24 days
Carrying Value	$ 3,012,602
Agency | Mortgage Servicing Rights Financing Receivable
Servicing Asset at Amortized Cost [Line Items]
UPB of Underlying Mortgages	$ 6,159,819
Weighted Average Life (Years)	5 years 7 months 6 days
Carrying Value	$ 57,410
Non-Agency | MSRs
Servicing Asset at Amortized Cost [Line Items]
UPB of Underlying Mortgages	$ 5,605,074
Weighted Average Life (Years)	4 years 6 months
Carrying Value	$ 16,598
Non-Agency | Mortgage Servicing Rights Financing Receivable
Servicing Asset at Amortized Cost [Line Items]
UPB of Underlying Mortgages	$ 69,089,988
Weighted Average Life (Years)	7 years 9 months 18 days
Carrying Value	$ 1,072,409
Ginnie Mae | MSRs
Servicing Asset at Amortized Cost [Line Items]
UPB of Underlying Mortgages	$ 57,290,646
Weighted Average Life (Years)	4 years 3 months 18 days
Carrying Value	$ 622,605
[1]	See Note 8 for details.

INVESTMENTS IN MORTGAGE SERVI_7

INVESTMENTS IN MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES - Summary of the Geographic Distribution of the Underlying Residential Mortgage Loans (Details) - MSRs - Mortgage Loans	Sep. 30, 2020	Dec. 31, 2019
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	100.00%	100.00%
California
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	21.90%	21.90%
Florida
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	7.30%	6.90%
New York
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	6.70%	6.40%
Texas
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	5.40%	5.50%
New Jersey
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	4.80%	4.90%
Illinois
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.50%	3.60%
Massachusetts
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.30%	3.40%
Georgia
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.20%	3.10%
Maryland
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.10%	3.00%
Washington
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.10%	3.30%
Other U.S.
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	37.70%	38.00%

INVESTMENTS IN MORTGAGE SERVI_8

INVESTMENTS IN MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES - Schedule of Advances Included in Servicing Advances Receivable (Details) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Total	[1]	$ 535,760	$ 581,777
Servicer Advances Receivable
Schedule of Equity Method Investments [Line Items]
Principal and interest advances		595,367	660,807
Escrow advances (taxes and insurance advances)		2,171,877	2,427,384
Foreclosure advances		137,231	163,054
Total		2,904,475	3,251,245
Servicer advances receivable related to agency MSRs		461,000	562,200
Servicer advances receivable related to Ginnie Mae MSRS, recoverable from Ginnie Mae		113,100	166,500
Servicer advances, unamortized discount and accrual		$ 47,400	$ 50,100
[1]	See Note 13 regarding consolidated VIEs.

SERVICER ADVANCE INVESTMENTS -

SERVICER ADVANCE INVESTMENTS - Narrative (Details) $ in Millions	Sep. 30, 2020USD ($)
The Buyer
Schedule of Equity Method Investments [Line Items]
Capital distributed to third-party co-investors	$ 328.4
Capital distributed to New Residential	$ 306.9
Servicer advance investments
Schedule of Equity Method Investments [Line Items]
New Residential’s ownership	73.20%
Funded capital commitments	$ 312.7
Servicer advance investments | Noncontrolling Third-party Investors
Schedule of Equity Method Investments [Line Items]
Funded capital commitments	$ 389.6

SERVICER ADVANCE INVESTMENTS _2

SERVICER ADVANCE INVESTMENTS - Summary of Investments in Servicer Advances (Details) - Servicer advance investments - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Investments in and Advances to Affiliates [Line Items]
Amortized Cost Basis	$ 510,995	$ 557,444
Carrying Value	$ 535,760	$ 581,777
Weighted Average Discount Rate	5.20%	5.30%
Weighted Average Yield	5.70%	5.70%
Weighted Average Life (Years)	6 years 3 months 18 days	6 years 3 months 18 days

SERVICER ADVANCE INVESTMENTS _3

SERVICER ADVANCE INVESTMENTS - Summary of Investments in Servicer Advances - Additional Information (Details) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Investments in and Advances to Affiliates [Line Items]
Servicer advance investments, at fair value	[1]	$ 535,760	$ 581,777
Face Amount of Secured Notes and Bonds Payable		22,429,761
Servicer advance investments | Servicer Advances
Investments in and Advances to Affiliates [Line Items]
UPB of Underlying Mortgages		27,484,426	31,442,267
Servicer advance investments, at fair value		$ 434,998	$ 462,843
Servicer Advances to UPB of Underlying Residential Mortgage Loans		1.60%	1.50%
Face Amount of Secured Notes and Bonds Payable		$ 412,538	$ 443,248
Gross Loan-to-Value		88.00%	88.30%
Net Loan-to-Value		87.00%	87.20%
Gross Cost of Funds		2.30%	3.40%
Net Cost of Funds		1.50%	2.80%
[1]	See Note 13 regarding consolidated VIEs.

SERVICER ADVANCE INVESTMENTS _4

SERVICER ADVANCE INVESTMENTS - Summary of Investments in Servicer Advances - Components of Funded Advances (Details) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Total	[1]	$ 535,760	$ 581,777
Servicer advance investments | Servicer Advances
Schedule of Equity Method Investments [Line Items]
Principal and interest advances		85,481	71,574
Escrow advances (taxes and insurance advances)		166,678	180,047
Foreclosure advances		182,839	211,222
Total		$ 434,998	$ 462,843
[1]	See Note 13 regarding consolidated VIEs.

SERVICER ADVANCE INVESTMENTS _5

SERVICER ADVANCE INVESTMENTS - Schedule of Interest Income Related to Investments in Servicer Advances (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule of Equity Method Investments [Line Items]
Interest income	$ 233,848	$ 448,127	$ 868,419	$ 1,303,041
Servicer Advance Investments
Schedule of Equity Method Investments [Line Items]
Interest income, gross of amounts attributable to servicer compensation	10,505	14,212	28,160	43,220
Amounts attributable to base servicer compensation	(703)	(1,606)	(2,325)	(4,578)
Amounts attributable to incentive servicer compensation	1,196	(7,273)	(12,755)	(20,780)
Interest income	$ 10,998	$ 5,333	$ 13,080	$ 17,862

INVESTMENTS IN REAL ESTATE AN_3

INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES - Summary of Real Estate Securities (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)securitybond	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)securitybond	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Sales
Outstanding Face Amount	$ 30,311,608		$ 30,311,608
Carrying Value	10,830,067		$ 10,830,067		$ 19,477,728
Weighted Average Life (Years)			2 years 3 months 18 days
Investments	23,036,611		$ 23,036,611
Bonds
Sales
Carrying Value	$ 647,100		$ 647,100
Number of bonds which New Residential was unable to obtain rating information | bond	305		305
Residual Bonds
Sales
Investments	$ 26,500		$ 26,500
Non-Agency Bonds
Sales
Investments	2,800		2,800
Agency RMBS
Purchases
Face	6,300,000	$ 12,306,400	17,162,600	$ 25,123,500
Purchase price	6,538,000	12,610,900	17,687,400	25,700,000
Sales
Face	1,195,500	6,073,400	18,590,600	17,898,500
Amortized Cost Basis	1,231,800	6,233,500	18,911,000	18,339,100
Sale price	1,251,500	6,252,800	19,120,500	18,451,400
Gain (loss) on sale	19,700	19,300	209,500	112,300
Outstanding Face Amount	9,035,433		9,035,433
Amortized Cost Basis	9,362,557		9,362,557
Gross Unrealized Gains	61,159		61,159
Gross Unrealized Losses	(2,891)		(2,891)
Carrying Value	$ 9,420,823		$ 9,420,823		11,519,943
Number of Securities | security	54		54
Weighted Average Rating			AAA
Weighted Average Coupon	2.25%		2.25%
Weighted Average Yield	2.25%		2.25%
Weighted Average Life (Years)			4 years 2 months 12 days
Agency RMBS | Fixed Rate Securities
Sales
Outstanding Face Amount	$ 9,000,000		$ 9,000,000
Agency RMBS
Sales
Outstanding Face Amount	114,401		114,401
Amortized Cost Basis	115,223		115,223
Gross Unrealized Gains	12,254		12,254
Gross Unrealized Losses	0		0
Carrying Value	$ 127,476		$ 127,476		11,519,943
Number of Securities | security	1		1
Weighted Average Rating			AAA
Weighted Average Coupon	3.50%		3.50%
Weighted Average Yield	3.50%		3.50%
Weighted Average Life (Years)			8 years 9 months 18 days
Agency RMBS at FVO
Sales
Outstanding Face Amount	$ 8,921,032		$ 8,921,032
Amortized Cost Basis	9,247,334		9,247,334
Gross Unrealized Gains	48,905		48,905
Gross Unrealized Losses	(2,891)		(2,891)
Carrying Value	$ 9,293,347		$ 9,293,347		0
Number of Securities | security	53		53
Weighted Average Rating			AAA
Weighted Average Coupon	2.24%		2.24%
Weighted Average Yield	2.24%		2.24%
Weighted Average Life (Years)			4 years 1 month 6 days
Non-Agency
Purchases
Face	$ 0	3,324,900	$ 5,083,100	7,899,100
Purchase price	0	247,000	575,000	1,164,900
Sales
Face	716,600	1,325,200	8,204,400	2,162,700
Amortized Cost Basis	526,300	832,400	6,083,500	1,571,000
Sale price	514,600	910,900	5,139,200	1,662,900
Gain (loss) on sale	(11,600)	$ 78,500	(944,300)	$ 91,900
Outstanding Face Amount	21,276,175		21,276,175
Amortized Cost Basis	1,386,243		1,386,243
Gross Unrealized Gains	92,192		92,192
Gross Unrealized Losses	(69,191)		(69,191)
Carrying Value	$ 1,409,244		$ 1,409,244		7,957,785
Number of Securities | security	599		599
Weighted Average Rating			AA
Weighted Average Coupon	3.03%		3.03%
Weighted Average Yield	4.86%		4.86%
Weighted Average Life (Years)			5 years 10 months 24 days
Weighted Average Principal Subordination	16.50%		16.50%
Non-Agency | Fixed Rate Securities
Sales
Outstanding Face Amount	$ 13,000,000		$ 13,000,000
Residual and interest - only notional amount	11,900,000		11,900,000
Non-Agency | Floating Rate Securities
Sales
Outstanding Face Amount	8,300,000		8,300,000
Residual and interest - only notional amount	7,700,000		7,700,000
Investments in Real Estate Securities
Sales
Outstanding Face Amount	30,311,608		30,311,608
Amortized Cost Basis	10,748,800		10,748,800
Gross Unrealized Gains	153,351		153,351
Gross Unrealized Losses	(72,082)		(72,082)
Carrying Value	$ 10,830,067		$ 10,830,067		$ 19,477,728
Number of Securities | security	653		653
Weighted Average Rating			AAA
Weighted Average Coupon	2.80%		2.80%
Weighted Average Yield	4.09%		4.09%
Weighted Average Life (Years)			5 years 4 months 24 days
Corporate debt
Sales
Outstanding Face Amount	$ 500		$ 500
Amortized Cost Basis	500		500
Gross Unrealized Gains	10		10
Gross Unrealized Losses	0		0
Carrying Value	$ 510		$ 510
Number of Securities | security	1		1
Weighted Average Rating			B-
Weighted Average Coupon	8.25%		8.25%
Weighted Average Yield	8.25%		8.25%
Weighted Average Life (Years)			4 years 6 months
Consumer loan bonds
Sales
Outstanding Face Amount	$ 13,847		$ 13,847
Amortized Cost Basis	11,069		11,069
Gross Unrealized Gains	0		0
Gross Unrealized Losses	0		0
Carrying Value	$ 11,069		$ 11,069
Number of Securities | security	6		6
Interest-only securities
Sales
Outstanding Face Amount	$ 10,506,022		$ 10,506,022
Amortized Cost Basis	272,207		272,207
Gross Unrealized Gains	17,641		17,641
Gross Unrealized Losses	(33,893)		(33,893)
Carrying Value	$ 255,954		$ 255,954
Number of Securities | security	126		126
Weighted Average Rating			AA+
Weighted Average Coupon	1.16%		1.16%
Weighted Average Yield	7.80%		7.80%
Weighted Average Life (Years)			2 years 8 months 12 days
Servicing strips
Sales
Outstanding Face Amount	$ 5,418,547		$ 5,418,547
Amortized Cost Basis	55,861		55,861
Gross Unrealized Gains	4,314		4,314
Gross Unrealized Losses	(9,009)		(9,009)
Carrying Value	$ 51,167		$ 51,167
Number of Securities | security	59		59
Weighted Average Coupon	0.61%		0.61%
Weighted Average Yield	7.60%		7.60%
Weighted Average Life (Years)			3 years 9 months 18 days

INVESTMENTS IN REAL ESTATE AN_4

INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Securities, Available-for-sale [Line Items]
Provision for credit losses on securities	$ (3,849)	$ 5,567	$ 15,166	$ 21,942
Agency RMBS
Debt Securities, Available-for-sale [Line Items]
Face amount of securities sold, unsettled	1,200,000	4,300,000	1,200,000	4,300,000
Face amount of securities purchased	300,000	2,500,000	300,000	2,500,000
Proceeds from sale of AFS, unsettled	1,300,000	4,400,000	1,300,000	4,400,000
Purchase of real estate securities, unsettled	$ 309,000	$ 2,500,000	$ 309,000	$ 2,500,000

INVESTMENTS IN REAL ESTATE AN_5

INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES - Summary of Real Estate Securities in an Unrealized Loss Position (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)security
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 30,311,608
Weighted Average Life (Years)	2 years 3 months 18 days
Less than 12 Months
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 10,511,509
Before Impairment - Amortized Cost Basis	3,144,203
Credit Impairment - Amortized Cost Basis	(2,072)
Amortized Cost Basis	3,142,131
Gross Unrealized Losses - Less than 12 Months	(51,194)
Carrying Value - Less than 12 Months	$ 3,090,937
Number of Securities - Less than 12 Months | security	112
Weighted Average Rating	AAA
Weighted Average Coupon	2.30%
Weighted Average Yield	2.05%
Weighted Average Life (Years)	6 years 1 month 6 days
12 or More Months
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 3,758,699
Before Impairment - Amortized Cost Basis	112,034
Credit Impairment - Amortized Cost Basis	(8,297)
Amortized Cost Basis	103,737
Gross Unrealized Losses - 12 or More Months	(20,889)
Carrying Value - 12 or More Months	$ 82,848
Number of Securities - 12 or More Months | security	70
Weighted Average Rating	AA+
Weighted Average Coupon	0.89%
Weighted Average Yield	2.59%
Weighted Average Life (Years)	2 years 4 months 24 days
Total/Weighted Average
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 14,270,208
Before Impairment - Amortized Cost Basis	3,256,237
Credit Impairment - Amortized Cost Basis	(10,369)
Amortized Cost Basis	3,245,868
Gross Unrealized Losses - Total	(72,083)
Carrying Value - Total	$ 3,173,785
Number of Securities - Total | security	182
Weighted Average Rating	AAA
Weighted Average Coupon	2.26%
Weighted Average Yield	2.07%
Weighted Average Life (Years)	6 years

INVESTMENTS IN REAL ESTATE AN_6

INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES - Summary of Real Estate Securities in an Unrealized Loss Position - Associated Intent to Sell (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Securities New Residential intends to sell
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 0	$ 0
Amortized Cost Basis After Credit Impairment	0	0
Gross Unrealized Losses, Credit	0	0
Gross Unrealized Losses, Non-Credit		0
Securities New Residential is more likely than not to be required to sell
Debt Securities, Available-for-sale [Line Items]
Fair Value	0	0
Amortized Cost Basis After Credit Impairment	0	0
Gross Unrealized Losses, Credit	0	0
Credit impaired securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	122,086	228,228
Amortized Cost Basis After Credit Impairment	134,639	237,626
Gross Unrealized Losses, Credit	(10,369)	(3,232)
Gross Unrealized Losses, Non-Credit	(12,553)	(9,398)
Non-credit impaired securities
Debt Securities, Available-for-sale [Line Items]
Fair Value	3,051,699	4,726,409
Amortized Cost Basis After Credit Impairment	3,111,229	4,767,837
Gross Unrealized Losses, Credit	0	0
Gross Unrealized Losses, Non-Credit	(59,530)	(41,428)
Total debt securities in an unrealized loss position
Debt Securities, Available-for-sale [Line Items]
Fair Value	3,173,785	4,954,637
Amortized Cost Basis After Credit Impairment	3,245,868	5,005,463
Gross Unrealized Losses, Credit	(10,369)	(3,232)
Gross Unrealized Losses, Non-Credit	$ (72,083)	$ (50,826)

INVESTMENTS IN REAL ESTATE AN_7

INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES - Summary of Activity Related to Credit Losses on Debt Securities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses on available-for-sale debt securities at December 31, 2019	$ 0
Additions to the allowance for credit losses on securities for which credit losses were not previously recorded	0
Additions to the allowance for credit losses arising from purchases of available-for-sale debt securities accounted for as purchased financial assets with credit deterioration	0
Reductions for securities sold during the period	0
Reductions in the allowance for credit losses 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
Additional increases (decreases) to the allowance for credit losses on securities that had credit losses or an allowance recorded in a previous period	10,369
Write-offs charged against the allowance	0
Recoveries of amounts previously written off	0
Allowance for credit losses on available-for-sale debt securities at September 30, 2020	10,369
Purchased Credit Deteriorated
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses on available-for-sale debt securities at December 31, 2019	0
Additions to the allowance for credit losses on securities for which credit losses were not previously recorded	0
Additions to the allowance for credit losses arising from purchases of available-for-sale debt securities accounted for as purchased financial assets with credit deterioration	0
Reductions for securities sold during the period	0
Reductions in the allowance for credit losses 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
Additional increases (decreases) to the allowance for credit losses on securities that had credit losses or an allowance recorded in a previous period	10,359
Write-offs charged against the allowance	0
Recoveries of amounts previously written off	0
Allowance for credit losses on available-for-sale debt securities at September 30, 2020	10,359
Non-Purchased Credit Deteriorated
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses on available-for-sale debt securities at December 31, 2019	0
Additions to the allowance for credit losses on securities for which credit losses were not previously recorded	0
Additions to the allowance for credit losses arising from purchases of available-for-sale debt securities accounted for as purchased financial assets with credit deterioration	0
Reductions for securities sold during the period	0
Reductions in the allowance for credit losses 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
Additional increases (decreases) to the allowance for credit losses on securities that had credit losses or an allowance recorded in a previous period	10
Write-offs charged against the allowance	0
Recoveries of amounts previously written off	0
Allowance for credit losses on available-for-sale debt securities at September 30, 2020	$ 10

INVESTMENTS IN REAL ESTATE AN_8

INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES - Summary of the Geographic Distribution of the Collateral Securing Non-Agency RMBS (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Non-Agency
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 21,261,778	$ 24,747,959
Percentage of Total Outstanding	100.00%	100.00%
Non-Agency | Western U.S.
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 7,347,342	$ 9,048,847
Percentage of Total Outstanding	34.60%	36.60%
Non-Agency | Southeastern U.S.
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 5,543,854	$ 5,983,966
Percentage of Total Outstanding	26.10%	24.20%
Non-Agency | Northeastern U.S.
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 4,876,703	$ 5,416,137
Percentage of Total Outstanding	22.90%	21.90%
Non-Agency | Midwestern U.S.
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 2,354,349	$ 2,562,269
Percentage of Total Outstanding	11.10%	10.40%
Non-Agency | Southwestern U.S.
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 1,130,535	$ 1,440,467
Percentage of Total Outstanding	5.30%	5.80%
Non-Agency | Other U.S.
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 8,995	$ 296,273
Percentage of Total Outstanding	0.00%	1.10%
Consumer Loan | Bonds
Debt Securities, Available-for-sale [Line Items]
Face amount of investment	$ 13,800	$ 25,000
Corporate Loan | Bonds
Debt Securities, Available-for-sale [Line Items]
Face amount of investment	$ 500	$ 85,000

INVESTMENTS IN REAL ESTATE AN_9

INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES - Schedule of the Outstanding Face Amount and Carrying Value for Securities Uncollectible (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Outstanding Face Amount	$ 967,463	$ 5,701,736
Carrying Value	$ 406,816	$ 3,830,369

INVESTMENTS IN REAL ESTATE A_10

INVESTMENTS IN REAL ESTATE AND OTHER SECURITIES - Summary of Changes in Accretable Yield for Securities (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Certain Loans Acquired in Transfer Accounted for as Available-for-sale Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance, beginning	$ 1,882,476
Additions	76,959
Accretion	(51,840)
Reclassifications from (to) non-accretable difference	(2,858,719)
Disposals	1,317,537
Balance, ending	$ 366,413

INVESTMENTS IN RESIDENTIAL MO_3

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Residential Mortgage Loans Outstanding by Loan Type, Excluding REO (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)loan	Dec. 31, 2019USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 1,261,905
Weighted Average Life (Years)	2 years 3 months 18 days
Residential Mortgage Loans, Held-for-Investment, at Fair Value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 784,838
Carrying Value	$ 718,802	$ 925,706
Loan Count | loan	12,587
Weighted Average Yield	6.70%
Weighted Average Life (Years)	4 years 2 months 12 days
Acquired Residential Mortgage Loans Held-for-Sale
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 719,533
Carrying Value	$ 578,353	1,429,052
Loan Count | loan	7,529
Weighted Average Yield	7.20%
Weighted Average Life (Years)	3 years 3 months 18 days
Acquired Reverse Mortgage Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 11,784
Carrying Value	$ 5,848	5,844
Loan Count | loan	28
Weighted Average Yield	7.80%
Weighted Average Life (Years)	3 years 10 months 24 days
Interest in reverse mortgage loans	70.00%
Unpaid principal balance	$ 600
Percentage of loans that have reached a termination event	47.00%
Acquired Reverse Mortgage Loans | Mr. Cooper
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest in reverse mortgage loans	30.00%
Acquired Performing Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 205,746
Carrying Value	$ 191,580	857,821
Loan Count | loan	4,138
Weighted Average Yield	6.60%
Weighted Average Life (Years)	3 years 4 months 24 days
Acquired Performing Loans | Ginnie Mae
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Unpaid Principal Balance	$ 490,900
Acquired Non-Performing Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	502,003
Carrying Value	$ 380,925	565,387
Loan Count | loan	3,363
Weighted Average Yield	7.50%
Weighted Average Life (Years)	3 years 3 months 18 days
Acquired Non-Performing Loans | Ginnie Mae
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Unpaid Principal Balance	$ 21,200
Acquired Performing Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	1,205,668
Carrying Value	$ 1,176,302	3,024,288
Loan Count | loan	7,590
Weighted Average Yield	4.20%
Weighted Average Life (Years)	9 years 10 months 24 days
Acquired non-performing loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 436,936
Carrying Value	$ 338,451	0
Loan Count | loan	2,872
Weighted Average Yield	7.50%
Originated loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 2,705,121
Carrying Value	$ 2,843,720	1,589,324
Loan Count | loan	9,947
Weighted Average Yield	2.90%
Weighted Average Life (Years)	22 years 1 month 6 days
Total Residential Mortgage Loans, held-for-sale, at fair value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 4,347,725
Carrying Value	$ 4,358,473	4,613,612
Loan Count | loan	20,409
Weighted Average Yield	3.70%
Weighted Average Life (Years)	16 years 9 months 18 days
Total Residential Mortgage Loans, held-for-sale
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 5,067,258
Carrying Value	$ 4,936,826	$ 6,042,664

INVESTMENTS IN RESIDENTIAL MO_4

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Narrative (Details) $ in Thousands	Dec. 31, 2019USD ($)		Sep. 30, 2020USD ($)trust		Sep. 30, 2019USD ($)trust	Dec. 31, 2019USD ($)		Jan. 01, 2020USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member		us-gaap:AccountingStandardsUpdate201613Member			us-gaap:AccountingStandardsUpdate201613Member
Residential mortgage loans subject to repurchase	$ 172,336	[1]	$ 1,458,325	[1]	$ 168,532	$ 172,336	[1]
Reduction to retained earnings	(549,733)		$ 1,094,589			(549,733)
Threshold period past due (in days)			60 days
Residential Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of trusts called | trust			15		97
Residential Mortgage Loans | Loans Sold
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income			$ 12,000		$ 45,300
Gain on securitization accounted for as sales			$ 48,300		$ 54,200
Cumulative Effect, Period of Adoption, Adjustment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reduction to retained earnings	$ (13,700)					$ (13,700)
Cumulative Effect, Period of Adoption, Adjustment | Residential Mortgage Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reduction to retained earnings								$ 6,000
[1]	See Note 8 for details.

INVESTMENTS IN RESIDENTIAL MO_5

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Geographic Distribution of the Underlying Residential Mortgage Loans (Details) - Residential Mortgage Loans	Sep. 30, 2020	Dec. 31, 2019
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	100.00%	100.00%
California
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	13.80%	16.10%
New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	8.90%	9.00%
Texas
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	8.00%	7.10%
Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	7.80%	8.40%
Georgia
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	5.50%	4.80%
New Jersey
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	5.10%	4.20%
Illinois
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.50%	3.60%
Pennsylvania
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.20%	2.90%
Maryland
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.20%	3.30%
Massachusetts
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.10%	3.30%
Other U.S.
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	37.90%	37.30%

INVESTMENTS IN RESIDENTIAL MO_6

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Schedule of Aggregate Unpaid Principal Balance and Aggregate Carrying Value (Details) $ in Thousands	Sep. 30, 2020USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	$ 1,261,905
Fair Value	(187,486)
Fair Value Over (Under) Unpaid Principal Balance	1,074,418
90 to 119
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	157,247
Fair Value	(14,808)
Fair Value Over (Under) Unpaid Principal Balance	142,438
120 or greater
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	1,104,658
Fair Value	(172,678)
Fair Value Over (Under) Unpaid Principal Balance	$ 931,980

INVESTMENTS IN RESIDENTIAL MO_7

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Performing Loans Past Due (Details) - Performing Loans - Residential Portfolio Segment	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent past due	100.00%
Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent past due	86.50%
30-59
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent past due	7.00%
60-89
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent past due	2.70%
90-119
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent past due	0.70%
120 or greater
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent past due	3.10%

INVESTMENTS IN RESIDENTIAL MO_8

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Carrying Value of Mortgage Loans (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning	$ 6,042,664
Transfer of loans to real estate owned	(31,764)
Balance, ending	4,936,826
Residential Portfolio Segment
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Fair value adjustment due to fair value option	(6,020)
Originations	37,361,429
Sales	(40,446,945)
Purchases/additional fundings	2,390,498
Proceeds from repayments	(332,487)
Transfer of loans to other assets	(23,710)
Transfer of loans to real estate owned	(27,087)
Transfers of loans to held for sale	0
Valuation provision on loans	(121,132)
Fair value adjustments due to, changes in instrument-specific credit risk	(12,680)
Fair value adjustments due to, other factors	(94,608)
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Residential Portfolio Segment
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning	925,706
Fair value adjustment due to fair value option	(6,020)
Originations	0
Sales	0
Purchases/additional fundings	0
Proceeds from repayments	(105,032)
Transfer of loans to other assets	0
Transfer of loans to real estate owned	(5,328)
Transfers of loans to held for sale	(62,274)
Valuation provision on loans	0
Fair value adjustments due to, changes in instrument-specific credit risk	18,808
Fair value adjustments due to, other factors	(47,058)
Balance, ending	718,802
Residential Mortgage Loans, Held-for-Sale | Acquired Loans, at Lower Cost or Fair Value | Residential Portfolio Segment
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning	1,429,052
Fair value adjustment due to fair value option	0
Originations	0
Sales	(733,087)
Purchases/additional fundings	110,741
Proceeds from repayments	(86,798)
Transfer of loans to other assets	(3,338)
Transfer of loans to real estate owned	(17,085)
Transfers of loans to held for sale	0
Valuation provision on loans	(121,132)
Fair value adjustments due to, changes in instrument-specific credit risk	0
Fair value adjustments due to, other factors	0
Balance, ending	578,353
Residential Mortgage Loans, Held-for-Sale | Acquired Loans | Residential Portfolio Segment
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning	4,613,612
Fair value adjustment due to fair value option	0
Originations	37,361,429
Sales	(39,713,858)
Purchases/additional fundings	2,279,757
Proceeds from repayments	(140,657)
Transfer of loans to other assets	(20,372)
Transfer of loans to real estate owned	(4,674)
Transfers of loans to held for sale	62,274
Valuation provision on loans	0
Fair value adjustments due to, changes in instrument-specific credit risk	(31,488)
Fair value adjustments due to, other factors	(47,550)
Balance, ending	4,358,473
Total Residential Mortgage Loans | Residential Portfolio Segment
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning	6,968,370
Balance, ending	$ 5,655,628

INVESTMENTS IN RESIDENTIAL MO_9

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Schedule of Net Interest Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest income:
Loans held-for-investment, at fair value	$ 12,647	$ 14,532	$ 40,985	$ 47,167
Total interest income	51,320	86,602	184,223	220,833
Interest expense:
Loans held-for-investment, at fair value	5,326	3,953	15,934	15,717
Total interest expense	30,303	56,563	97,641	152,040
Net interest income	21,017	30,039	86,582	68,793
Acquired Loans, at Lower Cost or Fair Value
Interest income:
Loans Held-for-Sale	7,406	15,426	38,673	43,538
Interest expense:
Loans Held-for-Sale	4,068	9,315	17,501	26,553
Acquired Loans
Interest income:
Loans Held-for-Sale	31,267	56,644	104,565	130,128
Interest expense:
Loans Held-for-Sale	$ 20,909	$ 43,295	$ 64,206	$ 109,770

INVESTMENTS IN RESIDENTIAL M_10

INVESTMENTS IN RESIDENTIAL MORTGAGE LOANS - Gain On Sale of Originated Mortgage Loans, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Long Lived Assets Held-for-sale [Line Items]
Gain on loans originated and sold	$ 244,224	$ 45,923	$ 520,094	$ 98,812
Gain (loss) on settlement of mortgage loan origination derivative instruments	(68,789)	(32,138)	(290,670)	(61,879)
MSRs retained on transfer of loans	156,353	96,317	424,451	190,666
Other	19,306	12,050	51,896	28,829
Realized gain on sale of originated mortgage loans, net	351,094	122,152	705,771	256,428
Change in fair value of derivative instruments	76,006	17,119	182,672	23,049
Gain on sale of originated mortgage loans, net	495,098	126,747	984,818	294,935
Loan origination fees and direct loan origination costs	566,300	103,500	953,100	189,400
Interest rate lock commitments
Long Lived Assets Held-for-sale [Line Items]
Change in fair value of derivative instruments	82,019	3,002	206,073	13,911
TBAs And Forward Loan Sale Commitments
Long Lived Assets Held-for-sale [Line Items]
Change in fair value of derivative instruments	(6,013)	14,117	(23,401)	9,138
Originated loans
Long Lived Assets Held-for-sale [Line Items]
Change in fair value of loans	$ 67,998	$ (12,524)	$ 96,375	$ 15,458

INVESTMENTS IN CONSUMER LOANS -

INVESTMENTS IN CONSUMER LOANS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	Dec. 31, 2019	Feb. 28, 2017	Sep. 30, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member		us-gaap:AccountingStandardsUpdate201613Member	us-gaap:AccountingStandardsUpdate201613Member
Reduction to retained earnings	$ (549,733)		$ 1,094,589	$ (549,733)
Warrants	28,042		22,799	28,042
WarrantCo | Consumer Portfolio Segment
Schedule of Equity Method Investments [Line Items]
Exercise price (in dollars per share)		$ 0.01
LoanCo | Consumer Portfolio Segment
Schedule of Equity Method Investments [Line Items]
Total purchase agreement amount		$ 5,000,000
Term of purchase contract (in years)		2 years
Series F Convertible Preferred Stock | Consumer Loan Seller | New Residential and Co Investors | Consumer Portfolio Segment
Schedule of Equity Method Investments [Line Items]
Number of warrants to be purchased (in shares)		177.7
Cumulative Effect, Period of Adoption, Adjustment
Schedule of Equity Method Investments [Line Items]
Reduction to retained earnings	$ (13,700)			$ (13,700)
Consumer Loans | Cumulative Effect, Period of Adoption, Adjustment
Schedule of Equity Method Investments [Line Items]
Reduction to retained earnings			$ 19,700
Consumer Loan Companies
Schedule of Equity Method Investments [Line Items]
Ownership interest			53.50%

INVESTMENTS IN CONSUMER LOANS_2

INVESTMENTS IN CONSUMER LOANS - Consumer Loan Investments made through Equity Method Investees (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Weighted Average Life (Years)	2 years 3 months 18 days
Consumer Portfolio Segment | New Residential Investment Corp.
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	$ 667,184	$ 823,917
Carrying Value	$ 722,108	$ 827,545
Weighted Average Coupon	17.40%	18.00%
Weighted Average Life (Years)	3 years 7 months 6 days	3 years 10 months 24 days
Weighted Average Delinquency	4.00%	5.90%
Consumer Portfolio Segment | New Residential Investment Corp. | Other - Performing Loans
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	$ 4,070	$ 9,158
Carrying Value	$ 3,753	$ 8,602
Weighted Average Coupon	15.30%	15.10%
Weighted Average Life (Years)	6 months	8 months 12 days
Weighted Average Delinquency	3.60%	6.10%
Consumer Portfolio Segment | New Residential Investment Corp. | Performing Loans
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	$ 525,664	$ 644,676
Carrying Value	$ 582,167	$ 682,310
Weighted Average Coupon	18.20%	18.80%
Weighted Average Life (Years)	3 years 8 months 12 days	4 years
Weighted Average Delinquency	3.40%	4.70%
Consumer Portfolio Segment | New Residential Investment Corp. | Purchased Credit Deteriorated Loans
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	$ 137,450	$ 170,083
Carrying Value	$ 136,188	$ 136,633
Weighted Average Coupon	14.20%	15.50%
Weighted Average Life (Years)	3 years 6 months	3 years 8 months 12 days
Weighted Average Delinquency	6.20%	10.10%
Consumer Loan Companies
Schedule of Equity Method Investments [Line Items]
Interest in Consumer Loans	53.50%
Consumer Loan Companies | Consumer Portfolio Segment | New Residential Investment Corp. | Performing Loans
Schedule of Equity Method Investments [Line Items]
Interest in Consumer Loans	53.50%	53.50%
Consumer Loan Companies | Consumer Portfolio Segment | New Residential Investment Corp. | Purchased Credit Deteriorated Loans
Schedule of Equity Method Investments [Line Items]
Interest in Consumer Loans	53.50%	53.50%
Entirely Owned Loan Portfolio | Consumer Portfolio Segment | New Residential Investment Corp. | Other - Performing Loans
Schedule of Equity Method Investments [Line Items]
Interest in Consumer Loans	100.00%	100.00%

INVESTMENTS IN CONSUMER LOANS_3

INVESTMENTS IN CONSUMER LOANS - Schedule of Aggregate Unpaid Principal Balance and Aggregate Carrying Value (Details) - Parent - Consumer Portfolio Segment $ in Thousands	Sep. 30, 2020USD ($)
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	$ 667,184
Fair Value	722,108
Fair Value Over (Under) Unpaid Principal Balance	54,924
Under 90 Days
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	656,284
Fair Value	710,367
Fair Value Over (Under) Unpaid Principal Balance	54,083
90 to 119
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	10,900
Fair Value	11,741
Fair Value Over (Under) Unpaid Principal Balance	$ 841

INVESTMENTS IN CONSUMER LOANS_4

INVESTMENTS IN CONSUMER LOANS - Consumer Loans Receivable Past Due (Details) - Performing Loans - Consumer Portfolio Segment	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Percent past due	100.00%
Current
Financing Receivable, Past Due [Line Items]
Percent past due	95.30%
30-59
Financing Receivable, Past Due [Line Items]
Percent past due	1.80%
60-89
Financing Receivable, Past Due [Line Items]
Percent past due	1.20%
90-119
Financing Receivable, Past Due [Line Items]
Percent past due	0.70%
120 or greater
Financing Receivable, Past Due [Line Items]
Percent past due	1.00%

INVESTMENTS IN CONSUMER LOANS_5

INVESTMENTS IN CONSUMER LOANS - Carrying Value of Performing Loans (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Loans Receivable [Roll Forward]
Proceeds from repayments	$ (100,433)	$ (83,483)
Accretion of loan discount and premium amortization, net	127,456	$ 298,933
Consumer Portfolio Segment | Performing Loans
Loans Receivable [Roll Forward]
Balance at December 31, 2019	827,545
Fair value adjustment due to fair value option	36,472
Additional fundings	25,008
Proceeds from repayments	(176,127)
Accretion of loan discount and premium amortization, net	18,844
Fair value adjustment, changes in instrument-specific credit risk	(429)
Fair value adjustment, other factors	(9,205)
Balance at September 31, 2020	$ 722,108

INVESTMENTS IN CONSUMER LOANS_6

INVESTMENTS IN CONSUMER LOANS - Schedule of Equity Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule of Equity Method Investments [Line Items]
Interest income	$ 233,848	$ 448,127	$ 868,419	$ 1,303,041
Interest expense	(130,528)	(245,902)	(463,786)	(686,738)
Net income (loss)	103,920	244,660	(1,459,206)	375,552
New Residential’s equity in net income	$ 0	$ (2,547)	$ 0	$ (890)
New Residential’s ownership		24.50%		25.00%
Equity Method Investment, Nonconsolidated Investee, Other
Schedule of Equity Method Investments [Line Items]
Interest income		$ 636		$ 20,003
Interest expense		0		(6,487)
Change in fair value of consumer loans and warrants		(2,933)		(4,390)
Gain on sale of consumer loans		(7,525)		(9,193)
Other expenses		(576)		(3,494)
Net income (loss)		(10,398)		(3,561)
New Residential’s equity in net income		$ (2,547)		$ (890)

INVESTMENTS IN CONSUMER LOANS_7

INVESTMENTS IN CONSUMER LOANS - Consumer Loan Equity Method Investments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Schedule of Equity Method Investments [Line Items]
Weighted Average Life (Years)	2 years 3 months 18 days
LoanCo | Consumer Portfolio Segment
Schedule of Equity Method Investments [Line Items]
Interest in Consumer Loans		25.00%
LoanCo | Consumer Portfolio Segment
Schedule of Equity Method Investments [Line Items]
UPB of Underlying Mortgages		$ 1,226
Carrying Value		$ 1,632
Weighted Average Coupon		18.70%
Weighted Average Life (Years)		1 year
Weighted Average Delinquency		0.00%

DERIVATIVES - Derivatives Recor

DERIVATIVES - Derivatives Recorded at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Derivative [Line Items]
Derivative assets	$ 255,496	$ 41,501
Derivative liabilities	37,820	6,885
Interest rate swaps
Derivative [Line Items]
Derivative assets	0	155
Derivative liabilities	263	0
Derivative asset, variation margin accounts	206,300	171,800
Interest rate lock commitments
Derivative [Line Items]
Derivative assets	246,247	41,346
Derivative liabilities	283	1,455
Forward loan sale commitments
Derivative [Line Items]
Derivative liabilities	0	27
TBAs
Derivative [Line Items]
Derivative assets	9,249	0
Derivative liabilities	$ 37,274	$ 5,403

DERIVATIVES - Derivatives Notio

DERIVATIVES - Derivatives Notional Amount (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Interest rate caps
Derivative [Line Items]
Derivative asset, notional amount	$ 12,500	$ 12,500
Derivative, cap interest rate	4.00%
Notional amount	$ 12,500
Weighted average maturity	2 months
Interest rate swaps
Derivative [Line Items]
Derivative asset, notional amount	$ 9,070,000	$ 4,900,000
Interest rate swaps | TBAs, short position
Derivative [Line Items]
Derivative, cap interest rate	0.80%	1.89%
Notional amount	$ 4,700,000	$ 900,000
Weighted average maturity	30 months	87 months
Interest rate swaps | TBAs, long position
Derivative [Line Items]
Derivative, cap interest rate	2.96%	3.21%
Notional amount	$ 4,400,000	$ 4,000,000
Weighted average maturity	31 months	36 months
Interest rate lock commitments
Derivative [Line Items]
Derivative asset, notional amount	$ 12,412,095	$ 4,043,935
Forward loan sale commitments
Derivative [Line Items]
Derivative asset, notional amount	0	43,654
TBAs | TBAs, short position
Derivative [Line Items]
Derivative liability, notional amount	15,254,283	5,048,000
TBAs | TBAs, long position
Derivative [Line Items]
Derivative liability, notional amount	$ 0	$ 11,692,212

DERIVATIVES - Derivatives Gain

DERIVATIVES - Derivatives Gain (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivative [Line Items]
Derivative instruments	$ 23,089	$ 41,389	$ 4,213	$ (25,037)
Gain (loss) on settlement of investments, net	(23,192)	(14,147)	(133,099)	(152,424)
Gain on originated mortgage loans, held-for-sale, net	76,006	17,119	182,672	23,049
Total income (losses)	75,903	44,361	53,786	(154,412)
Loss on settlement of mortgage loan origination derivative instruments	68,789	32,138	290,670	61,879
Interest rate caps
Derivative [Line Items]
Derivative instruments	0	0	0	(3)
Interest rate swaps
Derivative [Line Items]
Derivative instruments	23,089	42,306	4,213	(26,893)
Gain (loss) on settlement of investments, net	(23,192)	(10,338)	(62,039)	(32,529)
Interest rate lock commitments
Derivative [Line Items]
Gain on originated mortgage loans, held-for-sale, net	82,019	3,002	206,073	13,911
TBAs
Derivative [Line Items]
Derivative instruments	0	(917)	0	1,859
Gain (loss) on settlement of investments, net	0	(3,809)	(71,060)	(119,895)
Gain on originated mortgage loans, held-for-sale, net	(6,013)	14,389	(23,428)	9,208
Forward loan sale commitments
Derivative [Line Items]
Gain on originated mortgage loans, held-for-sale, net	$ 0	$ (272)	$ 27	$ (70)

DEBT OBLIGATIONS - Schedule of

DEBT OBLIGATIONS - Schedule of Debt Obligations (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Outstanding Face Amount	$ 22,429,761,000
Carrying Value	$ 22,400,516,000	$ 35,636,373,000
Weighted Average Funding Cost	1.93%
Weighted Average Life (Years)	2 years 3 months 18 days
MSR purchase price holdback	$ 33,195,000	68,668,000
Secured Notes and Bonds Payable | Mr. Cooper
Debt Instrument [Line Items]
Outstanding Face Amount	$ 989,100,000
Repurchase Agreements
Debt Instrument [Line Items]
Weighted Average Funding Cost	3.94%
Weighted Average Life (Years)	1 year 3 months 18 days
Secured Financing Agreements
Debt Instrument [Line Items]
Outstanding Face Amount	$ 14,673,179,000
Carrying Value	$ 14,666,868,000	27,916,225,000
Weighted Average Funding Cost	1.05%
Weighted Average Life (Years)	4 months 24 days
MSR purchase price holdback	$ 19,500,000
Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	7,756,582,000
Carrying Value	$ 7,733,648,000	7,720,148,000
Weighted Average Funding Cost	3.60%
Weighted Average Life (Years)	6 years 1 month 6 days
Warehouse Credit Facilities-Residential Mortgage Loans | Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Face Amount	$ 3,759,627,000
Carrying Value	$ 3,754,803,000	5,053,207,000
Weighted Average Funding Cost	2.50%
Weighted Average Life (Years)	1 year
Repurchase agreements	$ 270,700,000
Interest rate	4.40%
Warehouse Credit Facilities-Residential Mortgage Loans | Repurchase Agreements | Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	17 years 1 month 6 days
Outstanding Face of Collateral	$ 4,156,437,000
Amortized Cost Basis of Collateral	4,250,005,000
Carrying Value of Collateral	4,215,066,000
Agency RMBS | Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Face Amount	9,958,246,000
Carrying Value	$ 9,958,246,000	15,481,677,000
Weighted Average Funding Cost	0.20%
Weighted Average Life (Years)	2 months 12 days
Agency RMBS | Repurchase Agreements | Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	3 years 9 months 18 days
Outstanding Face of Collateral	$ 9,930,973,000
Amortized Cost Basis of Collateral	10,285,282,000
Carrying Value of Collateral	10,361,950,000
Non-Agency RMBS | Repurchase Agreements | Retained Servicer Advance and Consumer Bonds
Debt Instrument [Line Items]
Carrying Value	30,400,000
Non-Agency RMBS | Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Face Amount	952,323,000
Carrying Value	$ 950,836,000	7,317,519,000
Weighted Average Funding Cost	4.10%
Non-Agency RMBS | Repurchase Agreements | Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	6 years
Outstanding Face of Collateral	$ 18,999,108,000
Amortized Cost Basis of Collateral	1,730,072,000
Carrying Value of Collateral	1,734,798,000
Non-Agency RMBS | Repurchase Agreements | Collateral | Retained Servicer Advance and Consumer Bonds
Debt Instrument [Line Items]
Carrying Value	37,300,000
Real Estate Owned | Repurchase Agreements
Debt Instrument [Line Items]
Outstanding Face Amount	2,983,000
Carrying Value	2,983,000	63,822,000
Real Estate Owned | Repurchase Agreements | Collateral
Debt Instrument [Line Items]
Carrying Value of Collateral	3,796,000
Excess MSRs
Debt Instrument [Line Items]
Carrying Value	264,980,000	217,300,000
Excess MSRs | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	264,980,000
Carrying Value	$ 264,980,000	217,300,000
Weighted Average Funding Cost	3.91%
Weighted Average Life (Years)	1 year 1 month 6 days
Excess MSRs | Secured Notes and Bonds Payable | Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	6 years
Outstanding Face of Collateral	$ 107,584,509,000
Amortized Cost Basis of Collateral	333,874,000
Carrying Value of Collateral	421,907,000
MSRs | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	2,794,108,000
Carrying Value	$ 2,786,144,000	2,640,036,000
Weighted Average Funding Cost	4.57%
Weighted Average Life (Years)	2 years 3 months 18 days
MSRs | Secured Notes and Bonds Payable | Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	5 years 9 months 18 days
Outstanding Face of Collateral	$ 444,177,336,000
Amortized Cost Basis of Collateral	4,645,075,000
Carrying Value of Collateral	4,675,648,000
Servicer Advance Investments | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	412,538,000
Carrying Value	$ 412,538,000	581,777,000
Weighted Average Funding Cost	2.27%
Weighted Average Life (Years)	7 months 6 days
Servicer Advance Investments | Secured Notes and Bonds Payable | Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	6 years 3 months 18 days
Outstanding Face of Collateral	$ 434,998,000
Amortized Cost Basis of Collateral	510,995,000
Carrying Value of Collateral	$ 535,760,000
Servicer Advances | Secured Notes and Bonds Payable | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Variable interest rate spread	1.38%
Servicer Advances | Secured Notes and Bonds Payable | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Variable interest rate spread	1.85%
Servicer Advances | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	$ 2,502,158,000
Carrying Value	$ 2,492,239,000	2,599,895,000
Weighted Average Funding Cost	2.84%
Weighted Average Life (Years)	1 year 10 months 24 days
Face amount of debt at fixed rate	$ 1,900,000,000
Servicer Advances | Secured Notes and Bonds Payable | Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	8 months 12 days
Outstanding Face of Collateral	$ 2,747,433,000
Amortized Cost Basis of Collateral	2,857,040,000
Carrying Value of Collateral	2,857,040,000
Residential Mortgage | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	1,103,847,000
Carrying Value	$ 1,096,638,000	864,451,000
Weighted Average Funding Cost	4.26%
Weighted Average Life (Years)	30 years 1 month 6 days
Residential Mortgage | Secured Notes and Bonds Payable | Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	4 years 1 month 6 days
Outstanding Face of Collateral	$ 1,656,351,000
Amortized Cost Basis of Collateral	1,588,739,000
Carrying Value of Collateral	1,413,258,000
Consumer Loans
Debt Instrument [Line Items]
Carrying Value	681,109,000	816,689,000
Consumer Loans | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	678,951,000
Carrying Value	$ 681,109,000	$ 816,689,000
Weighted Average Funding Cost	2.03%
Weighted Average Life (Years)	3 years
Consumer Loans | Secured Notes and Bonds Payable | Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	3 years 7 months 6 days
Outstanding Face of Collateral	$ 663,047,000
Amortized Cost Basis of Collateral	718,287,000
Carrying Value of Collateral	718,287,000
2.50% Secured Corporate Note | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	$ 70,200,000
2.50% Secured Corporate Note | Secured Notes and Bonds Payable | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable interest rate spread	2.50%
3.50% Secured Corporate Note | Secured Notes and Bonds Payable | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Outstanding Face Amount	$ 194,700,000
Variable interest rate spread	3.50%
4.50% Agency MSR Secured Note And Bond Payable | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	$ 326,100,000
4.50% Agency MSR Secured Note And Bond Payable | Secured Notes and Bonds Payable | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Outstanding Face Amount	$ 933,000,000
Variable interest rate spread	4.50%
2.50% Agency MSR Secured Note | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	$ 37,400,000
2.50% Agency MSR Secured Note | Secured Notes and Bonds Payable | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable interest rate spread	2.50%
3.55% To 5.44% Agency MSR Secured Notes And Bonds Payable | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	$ 1,497,600,000
3.55% To 5.44% Agency MSR Secured Notes And Bonds Payable | Secured Notes and Bonds Payable | Minimum
Debt Instrument [Line Items]
Outstanding Face Amount	0.0355
3.55% To 5.44% Agency MSR Secured Notes And Bonds Payable | Secured Notes and Bonds Payable | Maximum
Debt Instrument [Line Items]
Outstanding Face Amount	0.0544
2.88% Residential Mortgage Loans | Secured Notes and Bonds Payable | Mr. Cooper
Debt Instrument [Line Items]
Collateral amount	$ 1,400,000
2.88% Residential Mortgage Loans | Secured Notes and Bonds Payable | London Interbank Offered Rate (LIBOR) | Mr. Cooper
Debt Instrument [Line Items]
Variable interest rate spread	2.88%
3.72% Asset-Backed Notes | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	$ 75,100,000
3.72% Asset-Backed Notes | Secured Notes and Bonds Payable | Maximum
Debt Instrument [Line Items]
Weighted Average Funding Cost	3.72%
6.63% Asset-Backed Notes | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	$ 165,500,000
Interest rate	6.63%
3.23% To 5.00% Asset-Backed Notes | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	$ 0.0323
3.23% To 5.00% Asset-Backed Notes | Secured Notes and Bonds Payable | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable interest rate spread	5.00%
Consumer Loan, UPB Class A | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Interest rate	1.97%
UPB of Underlying Mortgages	$ 610,000,000
Consumer Loan, UPB Class B | Secured Notes and Bonds Payable
Debt Instrument [Line Items]
Interest rate	2.66%
UPB of Underlying Mortgages	$ 53,000,000

DEBT OBLIGATIONS - Narrative (D

DEBT OBLIGATIONS - Narrative (Details) $ in Thousands	Sep. 16, 2020USD ($)	May 19, 2020USD ($)	Aug. 31, 2020USD ($)	Sep. 30, 2020USD ($)agreement	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)agreement	Sep. 30, 2019USD ($)
Debt Instrument [Line Items]
Face amount of debt				$ 22,429,761		$ 22,429,761
(Gain) loss on extinguishment of debt				66,256	$ 0	64,795	$ 8,532
Interest expense				130,528	245,902	463,786	686,738
2020 Term Loan
Debt Instrument [Line Items]
Debt instrument, term		3 years
Principal amount		$ 600,000
Interest rate		11.00%
Expiration period		3 years
Fair value of warrants issued		$ 53,500
Prepayment of term loan			$ 51,000
(Gain) loss on extinguishment of debt			$ 5,700
Minimum net worth required for compliance, ratio of outstanding principal		4.17
Interest expense				$ 17,020	$ 0	25,441	$ 0
Repurchase Agreements
Debt Instrument [Line Items]
Borrowings under secured financing agreements						$ 140,576,915
Repurchase Agreements | Stockholders' Equity, Total | Counterparty Concentration Risk
Debt Instrument [Line Items]
Number of repurchase agreements, outstanding | agreement				0		0
Secured Financing Agreements
Debt Instrument [Line Items]
Face amount of debt				$ 14,673,179		$ 14,673,179
Senior Notes
Debt Instrument [Line Items]
Issuance fees				8,200		$ 8,200
Senior Notes | 2025 Senior Notes
Debt Instrument [Line Items]
Face amount of debt	$ 550,000
Interest rate	6.25%
(Gain) loss on extinguishment of debt	$ 61,100
Redemption maximum principal amount, percentage	0.40
Debt redemption percentage	106.25%					101.00%
Borrowings under secured financing agreements	$ 544,500
Issuance fees	$ 8,300
Interest expense				$ 1,300		$ 1,300
Debt instrument, restrictive covenants, minimum total unencumbered assets maintenance requirement						1.20

DEBT OBLIGATIONS - Carrying Val

DEBT OBLIGATIONS - Carrying Value of Debt Obligations (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Debt Instrument [Roll Forward]
Beginning balance	$ 35,636,373
Repayments	(113,038,497)	$ (144,545,608)
Ending balance	22,400,516
Excess MSRs
Debt Instrument [Roll Forward]
Beginning balance	217,300
Ending balance	264,980
MSRs
Debt Instrument [Roll Forward]
Beginning balance	2,640,036
Ending balance	2,786,144
Servicer advances
Debt Instrument [Roll Forward]
Beginning balance	3,181,672
Ending balance	2,904,777
Real Estate Securities
Debt Instrument [Roll Forward]
Beginning balance	22,799,196
Ending balance	10,909,082
Residential Mortgage Loans and REO
Debt Instrument [Roll Forward]
Beginning balance	5,981,480
Ending balance	4,854,424
Consumer Loans
Debt Instrument [Roll Forward]
Beginning balance	816,689
Ending balance	681,109
Repurchase Agreements
Debt Instrument [Roll Forward]
Borrowings	140,576,915
Repayments	(153,821,446)
Capitalized deferred financing costs, net of amortization	(4,824)
Repurchase Agreements | Excess MSRs
Debt Instrument [Roll Forward]
Borrowings	0
Repayments	0
Capitalized deferred financing costs, net of amortization	0
Repurchase Agreements | MSRs
Debt Instrument [Roll Forward]
Borrowings	0
Repayments	0
Capitalized deferred financing costs, net of amortization	0
Repurchase Agreements | Servicer advances
Debt Instrument [Roll Forward]
Borrowings	0
Repayments	0
Capitalized deferred financing costs, net of amortization	0
Repurchase Agreements | Real Estate Securities
Debt Instrument [Roll Forward]
Borrowings	101,149,870
Repayments	(113,038,497)
Capitalized deferred financing costs, net of amortization	(1,487)
Repurchase Agreements | Residential Mortgage Loans and REO
Debt Instrument [Roll Forward]
Borrowings	39,427,045
Repayments	(40,782,949)
Capitalized deferred financing costs, net of amortization	(3,337)
Repurchase Agreements | Consumer Loans
Debt Instrument [Roll Forward]
Borrowings	0
Repayments	0
Capitalized deferred financing costs, net of amortization	0
Notes Payable
Debt Instrument [Roll Forward]
Borrowings	7,057,202
Repayments	(7,036,803)
Discount on borrowings, net of amortization	(1,425)
Unrealized loss on notes, fair value	(535)
Capitalized deferred financing costs, net of amortization	(4,941)
Notes Payable | Excess MSRs
Debt Instrument [Roll Forward]
Borrowings	97,173
Repayments	(49,493)
Discount on borrowings, net of amortization	0
Unrealized loss on notes, fair value	0
Capitalized deferred financing costs, net of amortization	0
Notes Payable | MSRs
Debt Instrument [Roll Forward]
Borrowings	2,367,635
Repayments	(2,220,067)
Discount on borrowings, net of amortization	1,457
Unrealized loss on notes, fair value	0
Capitalized deferred financing costs, net of amortization	(2,917)
Notes Payable | Servicer advances
Debt Instrument [Roll Forward]
Borrowings	3,053,589
Repayments	(3,328,415)
Discount on borrowings, net of amortization	0
Unrealized loss on notes, fair value	0
Capitalized deferred financing costs, net of amortization	(2,069)
Notes Payable | Real Estate Securities
Debt Instrument [Roll Forward]
Borrowings	0
Repayments	0
Discount on borrowings, net of amortization	0
Unrealized loss on notes, fair value	0
Capitalized deferred financing costs, net of amortization	0
Notes Payable | Residential Mortgage Loans and REO
Debt Instrument [Roll Forward]
Borrowings	875,758
Repayments	(640,924)
Discount on borrowings, net of amortization	0
Unrealized loss on notes, fair value	(2,694)
Capitalized deferred financing costs, net of amortization	45
Notes Payable | Consumer Loans
Debt Instrument [Roll Forward]
Borrowings	663,047
Repayments	(797,904)
Discount on borrowings, net of amortization	(2,882)
Unrealized loss on notes, fair value	2,159
Capitalized deferred financing costs, net of amortization	$ 0

DEBT OBLIGATIONS - Contractual

DEBT OBLIGATIONS - Contractual Maturities of Debt Obligations (Details) $ in Thousands	Sep. 30, 2020USD ($)
Debt maturing in:
October 1 through December 31, 2020	$ 11,671,841
2021	4,730,267
2022	1,811,034
2023	1,521,685
2024	522,589
2025 and thereafter	2,722,344
Total	22,979,760
Nonrecourse
Debt maturing in:
October 1 through December 31, 2020	1,296
2021	1,632,734
2022	119,403
2023	1,200,000
2024	0
2025 and thereafter	919,583
Total	3,873,016
Recourse
Debt maturing in:
October 1 through December 31, 2020	11,670,545
2021	3,097,533
2022	1,691,631
2023	321,685
2024	522,589
2025 and thereafter	1,802,761
Total	$ 19,106,744

DEBT OBLIGATIONS - Borrowing Ca

DEBT OBLIGATIONS - Borrowing Capacity (Details) $ in Thousands	Sep. 30, 2020USD ($)
Residential Mortgage Loans and REO
Debt Instrument [Line Items]
Borrowing Capacity	$ 5,011,258
Balance Outstanding	995,151
Available Financing(A)	4,016,107
New loan originations
Debt Instrument [Line Items]
Borrowing Capacity	5,283,000
Balance Outstanding	2,767,458
Available Financing(A)	2,515,542
Excess MSRs
Debt Instrument [Line Items]
Borrowing Capacity	311,237
Balance Outstanding	264,980
Available Financing(A)	46,257
MSRs
Debt Instrument [Line Items]
Borrowing Capacity	1,750,000
Balance Outstanding	1,296,506
Available Financing(A)	453,494
Servicer advances
Debt Instrument [Line Items]
Borrowing Capacity	4,645,000
Balance Outstanding	2,914,696
Available Financing(A)	1,730,304
Residential mortgage loans
Debt Instrument [Line Items]
Borrowing Capacity	650,000
Balance Outstanding	0
Available Financing(A)	650,000
Debt Excess Borrowing Capacity
Debt Instrument [Line Items]
Borrowing Capacity	17,650,495
Balance Outstanding	8,238,791
Available Financing(A)	$ 9,411,704

DEBT OBLIGATIONS - Schedule o_2

DEBT OBLIGATIONS - Schedule of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	May 19, 2020
Debt Instrument [Line Items]
Amortization of debt discounts and issuance costs			$ 12,352	$ 2,984
Total	$ 130,528	$ 245,902	463,786	686,738
2020 Term Loan
Debt Instrument [Line Items]
Coupon interest at 11.00%	13,652	0	20,435	0
Amortization of debt discounts and issuance costs	3,368	0	5,006	0
Total	$ 17,020	$ 0	$ 25,441	$ 0
Interest rate					11.00%

DEBT OBLIGATIONS - Schedule o_3

DEBT OBLIGATIONS - Schedule of Debt Redemption (Details) - 2025 Senior Notes - Senior Notes	Sep. 16, 2020	Sep. 30, 2020
Debt Instrument [Line Items]
Debt redemption percentage	106.25%	101.00%
2022
Debt Instrument [Line Items]
Debt redemption percentage	103.125%
2023
Debt Instrument [Line Items]
Debt redemption percentage	101.563%
2024 and thereafter
Debt Instrument [Line Items]
Debt redemption percentage	100.00%

FAIR VALUE MEASUREMENT - Carryi

FAIR VALUE MEASUREMENT - Carrying Values and Fair Values of Financial Assets Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2020		Dec. 31, 2019		Sep. 30, 2019
Investments in:
Excess mortgage servicing rights assets, at fair value	$ 435,982		$ 505,343
New Residential’s investment	4,781,624		5,686,233
Mortgage servicing rights financing receivables, at fair value	1,129,819		1,718,273
Real estate and other securities	10,830,067		19,477,728
Residential mortgage loans, held-for-sale	4,936,826		6,042,664
Residential mortgage loans subject to repurchase	1,458,325	[1]	172,336	[1]	$ 168,532
Derivative assets	255,496		41,501
Restricted cash	180,554		162,197
Liabilities
Residential mortgage loan repurchase liability	1,500,000
Derivative liabilities	37,820		6,885
Excess spread financing, at fair value	20,129		$ 31,777
Recurring Basis
Investments in:
Excess mortgage servicing rights, principal balance	77,351,569
Excess mortgage servicing rights, equity method investees, principal balance	30,232,940
Mortgage servicing rights, principal balance	386,369,641
Mortgage servicing rights financing receivables, principal balance	75,249,807
Servicer advance investments, principal balance	434,998
Real estate and other securities, available-for-sale, principal balance	30,311,608
Residential mortgage loans, held-for-sale, principal	719,533
Residential mortgage loans, held-for-sale, at fair value principal balance	4,347,725
Residential mortgage loans, held-for-investment, at fair value, principal balance	784,838
Residential mortgage loans, subject to repurchase, principal balance	1,458,325
Consumer loans, held-for-investment, principal balance	667,184
Derivative assets, principal balance	22,562,001
Note receivable, principal balance	48,278
Cash and cash equivalents, principal balance	841,022
Restricted cash, principal balance	180,554
Liabilities
Secured financing agreements, principal balance	14,673,178
Secured notes and bonds payable, principal amount	7,756,582
Residential mortgage loan repurchase liability, principal balance	1,458,325
Derivative liabilities, principal amount	9,230,520
Excess spread financing, principal balance	2,416,800
Mortgage backed securities, issued at fair value	1,800,000
Recurring Basis | Unsecured Senior Notes
Liabilities
Unsecured senior notes, net of issuance costs, principal balance	541,758
Recurring Basis | Carrying Value
Investments in:
Excess mortgage servicing rights assets, at fair value	328,623
Excess mortgage servicing rights, equity method investees, at fair value	107,359
New Residential’s investment	3,651,805
Mortgage servicing rights financing receivables, at fair value	1,129,819
Servicer advance investments, at fair value	535,760
Real estate and other securities	10,830,067
Residential mortgage loans, held-for-sale	578,353
Residential mortgage loans, held-for-sale, at fair value	4,358,473
Residential mortgage loans, held-for-investment, at fair value	718,802
Residential mortgage loans subject to repurchase	1,458,325
Consumer loans, held-for-investment, at fair value	722,110
Derivative assets	255,496
Note receivable	48,016
Cash and cash equivalents	841,022
Restricted cash	180,554
Other assets	44,545
Assets, fair value	25,789,129
Liabilities
Secured financing agreements	14,666,868
Secured notes and bonds payable, carrying value	7,733,648
Residential mortgage loan repurchase liability	1,458,325
Derivative liabilities	37,820
Excess spread financing, at fair value	20,129
Contingent consideration	13,628
Liabilities, fair value	24,472,176
Recurring Basis | Carrying Value | Unsecured Senior Notes
Liabilities
Unsecured senior notes, net of issuance costs	541,758
Recurring Basis | Total
Investments in:
Excess mortgage servicing rights assets, at fair value	328,623
Excess mortgage servicing rights, equity method investees, at fair value	107,359
New Residential’s investment	3,651,805
Mortgage servicing rights financing receivables, at fair value	1,129,819
Servicer advance investments, at fair value	535,760
Real estate and other securities	10,830,067
Residential mortgage loans, held-for-sale	578,353
Residential mortgage loans, held-for-sale, at fair value	4,358,473
Residential mortgage loans, held-for-investment, at fair value	718,802
Residential mortgage loans subject to repurchase	1,458,325
Consumer loans, held-for-investment, at fair value	722,110
Derivative assets	255,496
Note receivable	48,016
Cash and cash equivalents	841,022
Restricted cash	180,554
Other assets	44,545
Assets, fair value	25,789,129
Liabilities
Secured financing agreements	14,673,178
Secured notes and bonds payable, carrying value	7,718,539
Residential mortgage loan repurchase liability	1,458,325
Derivative liabilities	37,820
Excess spread financing, at fair value	20,129
Contingent consideration	13,628
Liabilities, fair value	24,463,377
Recurring Basis | Total | Unsecured Senior Notes
Liabilities
Unsecured senior notes, net of issuance costs	541,758
Recurring Basis | Total | Level 1
Investments in:
Excess mortgage servicing rights assets, at fair value	0
Excess mortgage servicing rights, equity method investees, at fair value	0
New Residential’s investment	0
Mortgage servicing rights financing receivables, at fair value	0
Servicer advance investments, at fair value	0
Real estate and other securities	0
Residential mortgage loans, held-for-sale	0
Residential mortgage loans, held-for-sale, at fair value	0
Residential mortgage loans, held-for-investment, at fair value	0
Residential mortgage loans subject to repurchase	0
Consumer loans, held-for-investment, at fair value	0
Derivative assets	0
Note receivable	0
Cash and cash equivalents	841,022
Restricted cash	180,554
Other assets	8,172
Assets, fair value	1,029,748
Liabilities
Secured financing agreements	0
Secured notes and bonds payable, carrying value	0
Residential mortgage loan repurchase liability	0
Derivative liabilities	0
Excess spread financing, at fair value	0
Contingent consideration	0
Liabilities, fair value	0
Recurring Basis | Total | Level 1 | Unsecured Senior Notes
Liabilities
Unsecured senior notes, net of issuance costs	0
Recurring Basis | Total | Level 2
Investments in:
Excess mortgage servicing rights assets, at fair value	0
Excess mortgage servicing rights, equity method investees, at fair value	0
New Residential’s investment	0
Mortgage servicing rights financing receivables, at fair value	0
Servicer advance investments, at fair value	0
Real estate and other securities	9,420,823
Residential mortgage loans, held-for-sale	62,273
Residential mortgage loans, held-for-sale, at fair value	3,175,134
Residential mortgage loans, held-for-investment, at fair value	0
Residential mortgage loans subject to repurchase	1,458,325
Consumer loans, held-for-investment, at fair value	0
Derivative assets	9,249
Note receivable	0
Cash and cash equivalents	0
Restricted cash	0
Other assets	0
Assets, fair value	14,125,804
Liabilities
Secured financing agreements	14,673,178
Secured notes and bonds payable, carrying value	0
Residential mortgage loan repurchase liability	1,458,325
Derivative liabilities	37,537
Excess spread financing, at fair value	0
Contingent consideration	0
Liabilities, fair value	16,169,040
Recurring Basis | Total | Level 2 | Unsecured Senior Notes
Liabilities
Unsecured senior notes, net of issuance costs	0
Recurring Basis | Total | Level 3
Investments in:
Excess mortgage servicing rights assets, at fair value	328,623
Excess mortgage servicing rights, equity method investees, at fair value	107,359
New Residential’s investment	3,651,805
Mortgage servicing rights financing receivables, at fair value	1,129,819
Servicer advance investments, at fair value	535,760
Real estate and other securities	1,409,244
Residential mortgage loans, held-for-sale	516,080
Residential mortgage loans, held-for-sale, at fair value	1,183,339
Residential mortgage loans, held-for-investment, at fair value	718,802
Residential mortgage loans subject to repurchase	0
Consumer loans, held-for-investment, at fair value	722,110
Derivative assets	246,247
Note receivable	48,016
Cash and cash equivalents	0
Restricted cash	0
Other assets	36,373
Assets, fair value	10,633,577
Liabilities
Secured financing agreements	0
Secured notes and bonds payable, carrying value	7,718,539
Residential mortgage loan repurchase liability	0
Derivative liabilities	283
Excess spread financing, at fair value	20,129
Contingent consideration	13,628
Liabilities, fair value	8,294,337
Recurring Basis | Total | Level 3 | Unsecured Senior Notes
Liabilities
Unsecured senior notes, net of issuance costs	541,758
Recurring Basis | Total | Fair Value Measured at Net Asset Value Per Share
Investments in:
Other assets	$ 31,800
[1]	See Note 8 for details.

FAIR VALUE MEASUREMENT - Financ

FAIR VALUE MEASUREMENT - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis using Level 3 Inputs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Non-Agency
Gains (losses) included in net income
Included in gain (loss) on settlement of investments, net	$ (11,600)	$ 78,500	$ (944,300)	$ 91,900
Excess MSRs Investees
Purchases, sales and repayments
New Residential’s ownership	50.00%		50.00%		50.00%
Recurring Basis | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning			$ 18,769,854
Transfers from Level 3			(715,790)
Transfers to Level 3			1,267,713
Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights			0
Gains (losses) included in net income
Included in other-than-temporary impairment on securities			(15,300)
Included in change in fair value of investments in excess mortgage servicing rights			(11,773)
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			(2,902)
Included in servicing revenue, net			(1,497,731)
Included in change in fair value of investments in mortgage servicing rights financing receivables			(245,906)
Included in change in fair value of servicer advance investments			431
Included in change in fair value of investments in residential mortgage loans			(109,324)
Included in gain (loss) on settlement of investments, net			(944,242)
Included in other income (loss), net			145,155
Gains (losses) included in other comprehensive income			(562,678)
Interest income			152,813
Purchases, sales and repayments
Purchases, net(G)			3,937,958
Proceeds from sales			(8,529,796)
Proceeds from repayments			(2,028,420)
Originations and other			422,763
Balance, ending	$ 10,032,825		10,032,825
Fair Value, Liabilities Measured on Recurring Basis, Gains (losses) included in net income [Abstract]
Balance, beginning			746,737
Transfers from Level 3			(43,875)
Transfers to Level 3			0
Shellpoint Acquisition			0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			(12,259)
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			(534)
Included in gain (loss) on settlement of investments, net			0
Included in other income (loss), net			4,225
Gains (losses) included in other comprehensive income			0
Interest income			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases, net(G)			1,538,804
Proceeds from sales			0
Payments			(441,855)
Other			(854)
Balance, ending	1,790,389		1,790,389
Recurring Basis | Level 3 | Servicer Advances
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning			581,777
Transfers from Level 3			0
Transfers to Level 3			0
Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights			0
Gains (losses) included in net income
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			0
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			431
Included in change in fair value of investments in residential mortgage loans			0
Included in gain (loss) on settlement of investments, net			0
Included in other income (loss), net			0
Gains (losses) included in other comprehensive income			0
Interest income			13,080
Purchases, sales and repayments
Purchases, net(G)			991,289
Proceeds from sales
Proceeds from repayments			(1,050,817)
Originations and other			0
Balance, ending	535,760		535,760
Recurring Basis | Level 3 | MSRs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning			3,967,960
Transfers from Level 3			0
Transfers to Level 3			0
Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights			320,613
Gains (losses) included in net income
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			(1,497,731)
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			0
Included in gain (loss) on settlement of investments, net			0
Included in other income (loss), net			0
Gains (losses) included in other comprehensive income			0
Interest income			0
Purchases, sales and repayments
Purchases, net(G)			446,964
Proceeds from sales			(10,452)
Proceeds from repayments			0
Originations and other			424,451
Balance, ending	3,651,805		3,651,805
Recurring Basis | Level 3 | Mortgage Servicing Rights Financing Receivable
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning			1,718,273
Transfers from Level 3			0
Transfers to Level 3			0
Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights			(320,613)
Gains (losses) included in net income
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			0
Included in change in fair value of investments in mortgage servicing rights financing receivables			(245,906)
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			0
Included in gain (loss) on settlement of investments, net			0
Included in other income (loss), net			0
Gains (losses) included in other comprehensive income			0
Interest income			0
Purchases, sales and repayments
Purchases, net(G)			(18,227)
Proceeds from sales			(3,708)
Proceeds from repayments			0
Originations and other			0
Balance, ending	1,129,819		1,129,819
Recurring Basis | Level 3 | Non-Agency
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning			7,957,785
Transfers from Level 3			0
Transfers to Level 3			0
Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights			0
Gains (losses) included in net income
Included in other-than-temporary impairment on securities			(15,300)
Included in change in fair value of investments in excess mortgage servicing rights			0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			0
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			0
Included in gain (loss) on settlement of investments, net			(944,257)
Included in other income (loss), net			(30,695)
Gains (losses) included in other comprehensive income			(593,130)
Interest income			95,713
Purchases, sales and repayments
Purchases, net(G)			575,030
Proceeds from sales			(5,139,114)
Proceeds from repayments			(495,100)
Originations and other			(1,688)
Balance, ending	1,409,244		1,409,244
Recurring Basis | Level 3 | Derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning			39,891
Transfers from Level 3			0
Transfers to Level 3			0
Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights			0
Gains (losses) included in net income
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			0
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			0
Included in gain (loss) on settlement of investments, net			0
Included in other income (loss), net			206,073
Gains (losses) included in other comprehensive income			0
Interest income			0
Purchases, sales and repayments
Purchases, net(G)			0
Proceeds from sales			0
Proceeds from repayments			0
Originations and other			0
Balance, ending	245,964		245,964
Recurring Basis | Level 3 | Residential mortgage loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning			3,998,825
Transfers from Level 3			(715,790)
Transfers to Level 3			440,168
Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights			0
Gains (losses) included in net income
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			0
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			(109,324)
Included in gain (loss) on settlement of investments, net			0
Included in other income (loss), net			(8,399)
Gains (losses) included in other comprehensive income			(6,020)
Interest income			0
Purchases, sales and repayments
Purchases, net(G)			1,917,894
Proceeds from sales			(3,376,461)
Proceeds from repayments			(238,752)
Originations and other			0
Balance, ending	1,902,141		1,902,141
Recurring Basis | Level 3 | Consumer Loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning			0
Transfers from Level 3			0
Transfers to Level 3			827,545
Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights			0
Gains (losses) included in net income
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			0
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			0
Included in gain (loss) on settlement of investments, net			0
Included in other income (loss), net			(9,634)
Gains (losses) included in other comprehensive income			36,472
Interest income			18,844
Purchases, sales and repayments
Purchases, net(G)			25,008
Proceeds from sales			0
Proceeds from repayments			(176,125)
Originations and other			0
Balance, ending	722,110		722,110
Recurring Basis | Level 3 | Excess Spread Financing
Fair Value, Liabilities Measured on Recurring Basis, Gains (losses) included in net income [Abstract]
Balance, beginning			31,777
Transfers from Level 3			0
Transfers to Level 3			0
Shellpoint Acquisition			0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			(12,259)
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			0
Included in gain (loss) on settlement of investments, net			0
Included in other income (loss), net			0
Gains (losses) included in other comprehensive income			0
Interest income			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases, net(G)			0
Proceeds from sales			0
Payments			0
Other			611
Balance, ending	20,129		20,129
Recurring Basis | Level 3 | Asset Backed Securities Issued
Fair Value, Liabilities Measured on Recurring Basis, Gains (losses) included in net income [Abstract]
Balance, beginning			659,738
Transfers from Level 3			0
Transfers to Level 3			0
Shellpoint Acquisition			0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			0
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			(534)
Included in gain (loss) on settlement of investments, net			0
Included in other income (loss), net			0
Gains (losses) included in other comprehensive income			0
Interest income			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases, net(G)			1,538,804
Proceeds from sales			0
Payments			(439,911)
Other			(1,465)
Balance, ending	1,756,632		1,756,632
Recurring Basis | Level 3 | Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Gains (losses) included in net income [Abstract]
Balance, beginning			55,222
Transfers from Level 3			(43,875)
Transfers to Level 3			0
Shellpoint Acquisition			0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			0
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			0
Included in gain (loss) on settlement of investments, net			0
Included in other income (loss), net			4,225
Gains (losses) included in other comprehensive income			0
Interest income			0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, (Sales), Issuances, (Settlements) [Abstract]
Purchases, net(G)			0
Proceeds from sales			0
Payments			(1,944)
Other			0
Balance, ending	13,628		13,628
Recurring Basis | Level 3 | MSRs Agency
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning			209,633
Transfers from Level 3			0
Transfers to Level 3			0
Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights			0
Gains (losses) included in net income
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			(7,805)
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			0
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			0
Included in gain (loss) on settlement of investments, net			14
Included in other income (loss), net			(10,817)
Gains (losses) included in other comprehensive income			0
Interest income			12,066
Purchases, sales and repayments
Purchases, net(G)			0
Proceeds from sales			(56)
Proceeds from repayments			(29,486)
Originations and other			0
Balance, ending	173,549		173,549
Recurring Basis | Level 3 | MSRs Agency | Excess MSRs Investees
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning			125,596
Transfers from Level 3			0
Transfers to Level 3			0
Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights			0
Gains (losses) included in net income
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			(2,902)
Included in servicing revenue, net			0
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			0
Included in gain (loss) on settlement of investments, net			0
Included in other income (loss), net			0
Gains (losses) included in other comprehensive income			0
Interest income			0
Purchases, sales and repayments
Purchases, net(G)			0
Proceeds from sales			0
Proceeds from repayments			(15,335)
Originations and other			0
Balance, ending	107,359		107,359
Recurring Basis | Level 3 | MSRs Non-Agency
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning			170,114
Transfers from Level 3			0
Transfers to Level 3			0
Transfers from investments in mortgage servicing rights financing receivables to investments in mortgage servicing rights			0
Gains (losses) included in net income
Included in other-than-temporary impairment on securities			0
Included in change in fair value of investments in excess mortgage servicing rights			(3,968)
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees			0
Included in servicing revenue, net			0
Included in change in fair value of investments in mortgage servicing rights financing receivables			0
Included in change in fair value of servicer advance investments			0
Included in change in fair value of investments in residential mortgage loans			0
Included in gain (loss) on settlement of investments, net			1
Included in other income (loss), net			(1,373)
Gains (losses) included in other comprehensive income			0
Interest income			13,110
Purchases, sales and repayments
Purchases, net(G)			0
Proceeds from sales			(5)
Proceeds from repayments			(22,805)
Originations and other			0
Balance, ending	$ 155,074		$ 155,074

FAIR VALUE MEASUREMENT - Inform

FAIR VALUE MEASUREMENT - Information Regarding Inputs used in Valuing Excess MSRs Owned Directly and through Equity Method Investees (Details)	9 Months Ended
	Sep. 30, 2020security$ / Loan
Measurement Input, Servicing Cost | Agency | MSRs | Minimum
Directly Held
Servicing asset, measurement input | $ / Loan	6.20
Measurement Input, Servicing Cost | Agency | MSRs | Maximum
Directly Held
Servicing asset, measurement input | $ / Loan	7.70
Measurement Input, Servicing Cost | Agency | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input | $ / Loan	6.90
Measurement Input, Servicing Cost | Non-Agency | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input | $ / Loan	11
Measurement Input, Servicing Cost | Ginnie Mae | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input | $ / Loan	9.30
Prepayment Rate | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.056
Prepayment Rate | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.125
Prepayment Rate | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.088
Prepayment Rate | Agency | Minimum
Directly Held
Servicing asset, measurement input	0.075
Prepayment Rate | Agency | Maximum
Directly Held
Servicing asset, measurement input	0.189
Prepayment Rate | Agency | Weighted Average
Directly Held
Servicing asset, measurement input	0.120
Prepayment Rate | Agency | MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.075
Prepayment Rate | Agency | MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.189
Prepayment Rate | Agency | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.121
Prepayment Rate | Agency | MSR Financing Receivables(I)
Directly Held
Servicing asset, measurement input	0.111
Prepayment Rate | Non-Agency | Minimum
Directly Held
Servicing asset, measurement input	0.080
Prepayment Rate | Non-Agency | Maximum
Directly Held
Servicing asset, measurement input	0.154
Prepayment Rate | Non-Agency | Weighted Average
Directly Held
Servicing asset, measurement input	0.081
Prepayment Rate | Non-Agency | MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.099
Prepayment Rate | Non-Agency | MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.154
Prepayment Rate | Non-Agency | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.135
Prepayment Rate | Non-Agency | MSR Financing Receivables(I)
Directly Held
Servicing asset, measurement input	0.080
Prepayment Rate | Ginnie Mae | Minimum
Directly Held
Servicing asset, measurement input	0.075
Prepayment Rate | Ginnie Mae | Maximum
Directly Held
Servicing asset, measurement input	0.240
Prepayment Rate | Ginnie Mae | Weighted Average
Directly Held
Servicing asset, measurement input	0.122
Prepayment Rate | Ginnie Mae | MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.094
Prepayment Rate | Ginnie Mae | MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.240
Prepayment Rate | Ginnie Mae | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.201
Prepayment Rate | Directly Held | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.056
Prepayment Rate | Directly Held | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.125
Prepayment Rate | Directly Held | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.087
Prepayment Rate | Directly Held | Agency | Original Pools | Minimum
Directly Held
Servicing asset, measurement input	0.071
Prepayment Rate | Directly Held | Agency | Original Pools | Maximum
Directly Held
Servicing asset, measurement input	0.101
Prepayment Rate | Directly Held | Agency | Original Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.083
Prepayment Rate | Directly Held | Agency | Recaptured Pools | Minimum
Directly Held
Servicing asset, measurement input	0.079
Prepayment Rate | Directly Held | Agency | Recaptured Pools | Maximum
Directly Held
Servicing asset, measurement input	0.115
Prepayment Rate | Directly Held | Agency | Recaptured Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.102
Prepayment Rate | Directly Held | Agency | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.071
Prepayment Rate | Directly Held | Agency | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.115
Prepayment Rate | Directly Held | Agency | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.089
Prepayment Rate | Directly Held | Non-Agency | Original Pools | Minimum
Directly Held
Servicing asset, measurement input	0.074
Prepayment Rate | Directly Held | Non-Agency | Original Pools | Maximum
Directly Held
Servicing asset, measurement input	0.125
Prepayment Rate | Directly Held | Non-Agency | Original Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.088
Prepayment Rate | Directly Held | Non-Agency | Recaptured Pools | Minimum
Directly Held
Servicing asset, measurement input	0.056
Prepayment Rate | Directly Held | Non-Agency | Recaptured Pools | Maximum
Directly Held
Servicing asset, measurement input	0.071
Prepayment Rate | Directly Held | Non-Agency | Recaptured Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.063
Prepayment Rate | Directly Held | Non-Agency | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.056
Prepayment Rate | Directly Held | Non-Agency | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.125
Prepayment Rate | Directly Held | Non-Agency | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.084
Prepayment Rate | Held through Equity Method Investees | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.075
Prepayment Rate | Held through Equity Method Investees | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.107
Prepayment Rate | Held through Equity Method Investees | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.090
Prepayment Rate | Held through Equity Method Investees | Agency | Original Pools | Minimum
Directly Held
Servicing asset, measurement input	0.075
Prepayment Rate | Held through Equity Method Investees | Agency | Original Pools | Maximum
Directly Held
Servicing asset, measurement input	0.101
Prepayment Rate | Held through Equity Method Investees | Agency | Original Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.083
Prepayment Rate | Held through Equity Method Investees | Agency | Recaptured Pools | Minimum
Directly Held
Servicing asset, measurement input	0.092
Prepayment Rate | Held through Equity Method Investees | Agency | Recaptured Pools | Maximum
Directly Held
Servicing asset, measurement input	0.105
Prepayment Rate | Held through Equity Method Investees | Agency | Recaptured Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.096
Delinquency | Agency | Minimum
Directly Held
Servicing asset, measurement input	0.004
Delinquency | Agency | Maximum
Directly Held
Servicing asset, measurement input	0.027
Delinquency | Agency | Weighted Average
Directly Held
Servicing asset, measurement input	0.009
Delinquency | Agency | MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.004
Delinquency | Agency | MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.027
Delinquency | Agency | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.009
Delinquency | Agency | MSR Financing Receivables(I)
Directly Held
Servicing asset, measurement input	0.007
Delinquency | Non-Agency | Minimum
Directly Held
Servicing asset, measurement input	0.010
Delinquency | Non-Agency | Maximum
Directly Held
Servicing asset, measurement input	0.102
Delinquency | Non-Agency | Weighted Average
Directly Held
Servicing asset, measurement input	0.142
Delinquency | Non-Agency | MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.010
Delinquency | Non-Agency | MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.102
Delinquency | Non-Agency | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.043
Delinquency | Non-Agency | MSR Financing Receivables(I)
Directly Held
Servicing asset, measurement input	0.144
Delinquency | Ginnie Mae | Minimum
Directly Held
Servicing asset, measurement input	0.004
Delinquency | Ginnie Mae | Maximum
Directly Held
Servicing asset, measurement input	0.102
Delinquency | Ginnie Mae | Weighted Average
Directly Held
Servicing asset, measurement input	0.047
Delinquency | Ginnie Mae | MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.016
Delinquency | Ginnie Mae | MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.084
Delinquency | Ginnie Mae | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.065
Delinquency | Directly Held | Agency | Original Pools | Minimum
Directly Held
Servicing asset, measurement input	0
Delinquency | Directly Held | Agency | Original Pools | Maximum
Directly Held
Servicing asset, measurement input	0.028
Delinquency | Directly Held | Agency | Original Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.012
Delinquency | Directly Held | Agency | Recaptured Pools | Minimum
Directly Held
Servicing asset, measurement input	0.001
Delinquency | Directly Held | Agency | Recaptured Pools | Maximum
Directly Held
Servicing asset, measurement input	0.036
Delinquency | Directly Held | Agency | Recaptured Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.008
Delinquency | Directly Held | Agency | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	0
Delinquency | Directly Held | Agency | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.036
Delinquency | Directly Held | Agency | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.011
Delinquency | Held through Equity Method Investees | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.006
Delinquency | Held through Equity Method Investees | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.022
Delinquency | Held through Equity Method Investees | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.012
Delinquency | Held through Equity Method Investees | Agency | Original Pools | Minimum
Directly Held
Servicing asset, measurement input	0.009
Delinquency | Held through Equity Method Investees | Agency | Original Pools | Maximum
Directly Held
Servicing asset, measurement input	0.022
Delinquency | Held through Equity Method Investees | Agency | Original Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.014
Delinquency | Held through Equity Method Investees | Agency | Recaptured Pools | Minimum
Directly Held
Servicing asset, measurement input	0.006
Delinquency | Held through Equity Method Investees | Agency | Recaptured Pools | Maximum
Directly Held
Servicing asset, measurement input	0.014
Delinquency | Held through Equity Method Investees | Agency | Recaptured Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.011
Recapture Rate | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	0
Recapture Rate | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.339
Recapture Rate | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.122
Recapture Rate | Agency | Minimum
Directly Held
Servicing asset, measurement input	0.027
Recapture Rate | Agency | Maximum
Directly Held
Servicing asset, measurement input	0.255
Recapture Rate | Agency | Weighted Average
Directly Held
Servicing asset, measurement input	0.159
Recapture Rate | Agency | MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.027
Recapture Rate | Agency | MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.255
Recapture Rate | Agency | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.159
Recapture Rate | Agency | MSR Financing Receivables(I)
Directly Held
Servicing asset, measurement input	0.147
Recapture Rate | Non-Agency | Minimum
Directly Held
Servicing asset, measurement input	0.038
Recapture Rate | Non-Agency | Maximum
Directly Held
Servicing asset, measurement input	0.250
Recapture Rate | Non-Agency | Weighted Average
Directly Held
Servicing asset, measurement input	0.083
Recapture Rate | Non-Agency | MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.038
Recapture Rate | Non-Agency | MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.250
Recapture Rate | Non-Agency | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.175
Recapture Rate | Non-Agency | MSR Financing Receivables(I)
Directly Held
Servicing asset, measurement input	0.082
Recapture Rate | Ginnie Mae | Minimum
Directly Held
Servicing asset, measurement input	0.027
Recapture Rate | Ginnie Mae | Maximum
Directly Held
Servicing asset, measurement input	0.350
Recapture Rate | Ginnie Mae | Weighted Average
Directly Held
Servicing asset, measurement input	0.100
Recapture Rate | Ginnie Mae | MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.159
Recapture Rate | Ginnie Mae | MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.350
Recapture Rate | Ginnie Mae | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.221
Recapture Rate | Directly Held | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	0
Recapture Rate | Directly Held | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.339
Recapture Rate | Directly Held | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.118
Recapture Rate | Directly Held | Agency | Original Pools | Minimum
Directly Held
Servicing asset, measurement input	0.044
Recapture Rate | Directly Held | Agency | Original Pools | Maximum
Directly Held
Servicing asset, measurement input	0.233
Recapture Rate | Directly Held | Agency | Original Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.104
Recapture Rate | Directly Held | Agency | Recaptured Pools | Minimum
Directly Held
Servicing asset, measurement input	0
Recapture Rate | Directly Held | Agency | Recaptured Pools | Maximum
Directly Held
Servicing asset, measurement input	0.339
Recapture Rate | Directly Held | Agency | Recaptured Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.216
Recapture Rate | Directly Held | Agency | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	0
Recapture Rate | Directly Held | Agency | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.339
Recapture Rate | Directly Held | Agency | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.141
Recapture Rate | Directly Held | Non-Agency | Original Pools | Minimum
Directly Held
Servicing asset, measurement input	0
Recapture Rate | Directly Held | Non-Agency | Original Pools | Maximum
Directly Held
Servicing asset, measurement input	0.131
Recapture Rate | Directly Held | Non-Agency | Original Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.084
Recapture Rate | Directly Held | Non-Agency | Recaptured Pools | Minimum
Directly Held
Servicing asset, measurement input	0.120
Recapture Rate | Directly Held | Non-Agency | Recaptured Pools | Maximum
Directly Held
Servicing asset, measurement input	0.224
Recapture Rate | Directly Held | Non-Agency | Recaptured Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.141
Recapture Rate | Directly Held | Non-Agency | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	0
Recapture Rate | Directly Held | Non-Agency | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.224
Recapture Rate | Directly Held | Non-Agency | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.093
Recapture Rate | Held through Equity Method Investees | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.055
Recapture Rate | Held through Equity Method Investees | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.298
Recapture Rate | Held through Equity Method Investees | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.129
Recapture Rate | Held through Equity Method Investees | Agency | Original Pools | Minimum
Directly Held
Servicing asset, measurement input	0.055
Recapture Rate | Held through Equity Method Investees | Agency | Original Pools | Maximum
Directly Held
Servicing asset, measurement input	0.233
Recapture Rate | Held through Equity Method Investees | Agency | Original Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.096
Recapture Rate | Held through Equity Method Investees | Agency | Recaptured Pools | Minimum
Directly Held
Servicing asset, measurement input	0.123
Recapture Rate | Held through Equity Method Investees | Agency | Recaptured Pools | Maximum
Directly Held
Servicing asset, measurement input	0.298
Recapture Rate | Held through Equity Method Investees | Agency | Recaptured Pools | Weighted Average
Directly Held
Servicing asset, measurement input	0.161
Servicing Amount Percent | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	5
Servicing Amount Percent | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	32
Servicing Amount Percent | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	20
Servicing Amount Percent | Agency | Minimum
Directly Held
Servicing asset, measurement input	0.25
Servicing Amount Percent | Agency | Maximum
Directly Held
Servicing asset, measurement input	0.33
Servicing Amount Percent | Agency | Weighted Average
Directly Held
Servicing asset, measurement input	0.28
Servicing Amount Percent | Agency | MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.25
Servicing Amount Percent | Agency | MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.33
Servicing Amount Percent | Agency | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.28
Servicing Amount Percent | Agency | MSR Financing Receivables(I)
Directly Held
Servicing asset, measurement input	0.25
Servicing Amount Percent | Non-Agency | Minimum
Directly Held
Servicing asset, measurement input	0.26
Servicing Amount Percent | Non-Agency | Maximum
Directly Held
Servicing asset, measurement input	0.88
Servicing Amount Percent | Non-Agency | Weighted Average
Directly Held
Servicing asset, measurement input	0.48
Servicing Amount Percent | Non-Agency | MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.26
Servicing Amount Percent | Non-Agency | MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.88
Servicing Amount Percent | Non-Agency | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.48
Servicing Amount Percent | Non-Agency | MSR Financing Receivables(I)
Directly Held
Servicing asset, measurement input	0.48
Servicing Amount Percent | Ginnie Mae | Minimum
Directly Held
Servicing asset, measurement input	0.25
Servicing Amount Percent | Ginnie Mae | Maximum
Directly Held
Servicing asset, measurement input	0.88
Servicing Amount Percent | Ginnie Mae | Weighted Average
Directly Held
Servicing asset, measurement input	0.35
Servicing Amount Percent | Ginnie Mae | MSRs | Minimum
Directly Held
Servicing asset, measurement input	0.32
Servicing Amount Percent | Ginnie Mae | MSRs | Maximum
Directly Held
Servicing asset, measurement input	0.52
Servicing Amount Percent | Ginnie Mae | MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	0.45
Servicing Amount Percent | Directly Held | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	5
Servicing Amount Percent | Directly Held | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	32
Servicing Amount Percent | Directly Held | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	19
Servicing Amount Percent | Directly Held | Agency | Minimum
Directly Held
Servicing asset, measurement input	15
Servicing Amount Percent | Directly Held | Agency | Maximum
Directly Held
Servicing asset, measurement input	32
Servicing Amount Percent | Directly Held | Agency | Weighted Average
Directly Held
Servicing asset, measurement input	22
Servicing Amount Percent | Directly Held | Agency | Original Pools | Minimum
Directly Held
Servicing asset, measurement input	15
Servicing Amount Percent | Directly Held | Agency | Original Pools | Maximum
Directly Held
Servicing asset, measurement input	32
Servicing Amount Percent | Directly Held | Agency | Original Pools | Weighted Average
Directly Held
Servicing asset, measurement input	21
Servicing Amount Percent | Directly Held | Agency | Recaptured Pools | Minimum
Directly Held
Servicing asset, measurement input	21
Servicing Amount Percent | Directly Held | Agency | Recaptured Pools | Maximum
Directly Held
Servicing asset, measurement input	29
Servicing Amount Percent | Directly Held | Agency | Recaptured Pools | Weighted Average
Directly Held
Servicing asset, measurement input	24
Servicing Amount Percent | Directly Held | Non-Agency | Original Pools | Minimum
Directly Held
Servicing asset, measurement input	5
Servicing Amount Percent | Directly Held | Non-Agency | Original Pools | Maximum
Directly Held
Servicing asset, measurement input	25
Servicing Amount Percent | Directly Held | Non-Agency | Original Pools | Weighted Average
Directly Held
Servicing asset, measurement input	15
Servicing Amount Percent | Directly Held | Non-Agency | Recaptured Pools | Minimum
Directly Held
Servicing asset, measurement input	23
Servicing Amount Percent | Directly Held | Non-Agency | Recaptured Pools | Maximum
Directly Held
Servicing asset, measurement input	28
Servicing Amount Percent | Directly Held | Non-Agency | Recaptured Pools | Weighted Average
Directly Held
Servicing asset, measurement input	25
Servicing Amount Percent | Directly Held | Non-Agency | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	5
Servicing Amount Percent | Directly Held | Non-Agency | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	28
Servicing Amount Percent | Directly Held | Non-Agency | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	17
Servicing Amount Percent | Held through Equity Method Investees | Agency | Original Pools | Minimum
Directly Held
Servicing asset, measurement input	15
Servicing Amount Percent | Held through Equity Method Investees | Agency | Original Pools | Maximum
Directly Held
Servicing asset, measurement input	25
Servicing Amount Percent | Held through Equity Method Investees | Agency | Original Pools | Weighted Average
Directly Held
Servicing asset, measurement input	19
Servicing Amount Percent | Held through Equity Method Investees | Agency | Recaptured Pools | Minimum
Directly Held
Servicing asset, measurement input	22
Servicing Amount Percent | Held through Equity Method Investees | Agency | Recaptured Pools | Maximum
Directly Held
Servicing asset, measurement input	28
Servicing Amount Percent | Held through Equity Method Investees | Agency | Recaptured Pools | Weighted Average
Directly Held
Servicing asset, measurement input	25
Servicing Amount Percent | Held through Equity Method Investees | Agency | Excess MSRs | Minimum
Directly Held
Servicing asset, measurement input	15
Servicing Amount Percent | Held through Equity Method Investees | Agency | Excess MSRs | Maximum
Directly Held
Servicing asset, measurement input	28
Servicing Amount Percent | Held through Equity Method Investees | Agency | Excess MSRs | Weighted Average
Directly Held
Servicing asset, measurement input	22
Collateral Weighted Average Maturity (Years) | Excess MSRs | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	14 years
Collateral Weighted Average Maturity (Years) | Excess MSRs | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	28 years
Collateral Weighted Average Maturity (Years) | Excess MSRs | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	21 years
Collateral Weighted Average Maturity (Years) | Agency | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	0 years
Collateral Weighted Average Maturity (Years) | Agency | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	30 years
Collateral Weighted Average Maturity (Years) | Agency | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	22 years
Collateral Weighted Average Maturity (Years) | Agency | MSRs | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	0 years
Collateral Weighted Average Maturity (Years) | Agency | MSRs | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	30 years
Collateral Weighted Average Maturity (Years) | Agency | MSRs | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	22 years
Collateral Weighted Average Maturity (Years) | Agency | MSR Financing Receivables(I) | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	0 years
Collateral Weighted Average Maturity (Years) | Agency | MSR Financing Receivables(I) | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	30 years
Collateral Weighted Average Maturity (Years) | Agency | MSR Financing Receivables(I) | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	23 years
Collateral Weighted Average Maturity (Years) | Non-Agency | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	0 years
Collateral Weighted Average Maturity (Years) | Non-Agency | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	30 years
Collateral Weighted Average Maturity (Years) | Non-Agency | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	25 years
Collateral Weighted Average Maturity (Years) | Non-Agency | MSRs | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	0 years
Collateral Weighted Average Maturity (Years) | Non-Agency | MSRs | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	30 years
Collateral Weighted Average Maturity (Years) | Non-Agency | MSRs | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	16 years
Collateral Weighted Average Maturity (Years) | Non-Agency | MSR Financing Receivables(I) | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	0 years
Collateral Weighted Average Maturity (Years) | Non-Agency | MSR Financing Receivables(I) | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	30 years
Collateral Weighted Average Maturity (Years) | Non-Agency | MSR Financing Receivables(I) | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	25 years
Collateral Weighted Average Maturity (Years) | Ginnie Mae | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	0 years
Collateral Weighted Average Maturity (Years) | Ginnie Mae | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	30 years
Collateral Weighted Average Maturity (Years) | Ginnie Mae | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	23 years
Collateral Weighted Average Maturity (Years) | Ginnie Mae | MSRs | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	0 years
Collateral Weighted Average Maturity (Years) | Ginnie Mae | MSRs | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	30 years
Collateral Weighted Average Maturity (Years) | Ginnie Mae | MSRs | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	27 years
Collateral Weighted Average Maturity (Years) | Directly Held | Excess MSRs | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	14 years
Collateral Weighted Average Maturity (Years) | Directly Held | Excess MSRs | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	28 years
Collateral Weighted Average Maturity (Years) | Directly Held | Excess MSRs | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	21 years
Collateral Weighted Average Maturity (Years) | Directly Held | Agency | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	14 years
Collateral Weighted Average Maturity (Years) | Directly Held | Agency | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	24 years
Collateral Weighted Average Maturity (Years) | Directly Held | Agency | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	20 years
Collateral Weighted Average Maturity (Years) | Directly Held | Agency | Original Pools | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	14 years
Collateral Weighted Average Maturity (Years) | Directly Held | Agency | Original Pools | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	22 years
Collateral Weighted Average Maturity (Years) | Directly Held | Agency | Original Pools | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	19 years
Collateral Weighted Average Maturity (Years) | Directly Held | Agency | Recaptured Pools | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	19 years
Collateral Weighted Average Maturity (Years) | Directly Held | Agency | Recaptured Pools | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	24 years
Collateral Weighted Average Maturity (Years) | Directly Held | Agency | Recaptured Pools | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	22 years
Collateral Weighted Average Maturity (Years) | Directly Held | Non-Agency | Original Pools | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	18 years
Collateral Weighted Average Maturity (Years) | Directly Held | Non-Agency | Original Pools | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	28 years
Collateral Weighted Average Maturity (Years) | Directly Held | Non-Agency | Original Pools | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	23 years
Collateral Weighted Average Maturity (Years) | Directly Held | Non-Agency | Recaptured Pools | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	21 years
Collateral Weighted Average Maturity (Years) | Directly Held | Non-Agency | Recaptured Pools | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	24 years
Collateral Weighted Average Maturity (Years) | Directly Held | Non-Agency | Recaptured Pools | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	23 years
Collateral Weighted Average Maturity (Years) | Directly Held | Non-Agency | Excess MSRs | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	18 years
Collateral Weighted Average Maturity (Years) | Directly Held | Non-Agency | Excess MSRs | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	28 years
Collateral Weighted Average Maturity (Years) | Directly Held | Non-Agency | Excess MSRs | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	23 years
Collateral Weighted Average Maturity (Years) | Held through Equity Method Investees | Agency | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	18 years
Collateral Weighted Average Maturity (Years) | Held through Equity Method Investees | Agency | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	23 years
Collateral Weighted Average Maturity (Years) | Held through Equity Method Investees | Agency | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	20 years
Collateral Weighted Average Maturity (Years) | Held through Equity Method Investees | Agency | Original Pools | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	18 years
Collateral Weighted Average Maturity (Years) | Held through Equity Method Investees | Agency | Original Pools | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	19 years
Collateral Weighted Average Maturity (Years) | Held through Equity Method Investees | Agency | Original Pools | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	18 years
Collateral Weighted Average Maturity (Years) | Held through Equity Method Investees | Agency | Recaptured Pools | Minimum
Directly Held
Collateral Weighted Average Maturity (Years)	20 years
Collateral Weighted Average Maturity (Years) | Held through Equity Method Investees | Agency | Recaptured Pools | Maximum
Directly Held
Collateral Weighted Average Maturity (Years)	23 years
Collateral Weighted Average Maturity (Years) | Held through Equity Method Investees | Agency | Recaptured Pools | Weighted Average
Directly Held
Collateral Weighted Average Maturity (Years)	22 years

FAIR VALUE MEASUREMENT - Narrat

FAIR VALUE MEASUREMENT - Narrative (Details) $ in Millions	Apr. 10, 2020USD ($)	Sep. 30, 2020USD ($)	Aug. 31, 2019USD ($)earnout_payment
Fair Value, Measurements, Nonrecurring
Schedule of Equity Method Investments [Line Items]
Assets, fair value		$ 602.7
Minimum
Schedule of Equity Method Investments [Line Items]
Broker price discount		10.00%
Maximum
Schedule of Equity Method Investments [Line Items]
Broker price discount		25.00%
Weighted Average
Schedule of Equity Method Investments [Line Items]
Broker price discount		17.00%
Residential Mortgage Loans, Held-for-Sale | Fair Value, Measurements, Nonrecurring
Schedule of Equity Method Investments [Line Items]
Assets, fair value		$ 572.5
Real Estate Acquired in Satisfaction of Debt | Fair Value, Measurements, Nonrecurring
Schedule of Equity Method Investments [Line Items]
Assets, fair value		30.2
Residential mortgage loans, held-for-sale, at fair value
Schedule of Equity Method Investments [Line Items]
Asset fair value adjustment		121.1
Real Estate Owned
Schedule of Equity Method Investments [Line Items]
Asset fair value adjustment		$ (2.6)
Excess MSRs Investees | Minimum
Schedule of Equity Method Investments [Line Items]
Discount rate		7.50%
Excess MSRs Investees | Maximum
Schedule of Equity Method Investments [Line Items]
Discount rate		8.00%
Excess MSRs Investees | Weighted Average
Schedule of Equity Method Investments [Line Items]
Discount rate		7.80%
Mortgage Servicing Rights Financing Receivable
Schedule of Equity Method Investments [Line Items]
Discount rate		9.40%
Mortgage Servicing Rights Financing Receivable | Minimum
Schedule of Equity Method Investments [Line Items]
Discount rate		7.40%
Mortgage Servicing Rights Financing Receivable | Maximum
Schedule of Equity Method Investments [Line Items]
Discount rate		9.50%
Mortgage Servicing Rights Financing Receivable | Weighted Average
Schedule of Equity Method Investments [Line Items]
Discount rate		9.40%
MSRs
Schedule of Equity Method Investments [Line Items]
Discount rate		7.70%
MSRs | Minimum
Schedule of Equity Method Investments [Line Items]
Discount rate		7.40%
MSRs | Maximum
Schedule of Equity Method Investments [Line Items]
Discount rate		13.00%
MSRs | Weighted Average
Schedule of Equity Method Investments [Line Items]
Discount rate		7.70%
MSRs | Excess MSRs Investees
Schedule of Equity Method Investments [Line Items]
Discount rate		7.80%
London Interbank Offered Rate (LIBOR) | Mortgage Servicing Rights Financing Receivable
Schedule of Equity Method Investments [Line Items]
Variable interest rate spread		2.10%
Guardian Asset Management
Schedule of Equity Method Investments [Line Items]
Cash earnout payments | earnout_payment			4
Contingent consideration, discount rate		11.00%
NRZ Guardian Purchaser LLC | Guardian Asset Management
Schedule of Equity Method Investments [Line Items]
Contingent consideration			$ 17.5
Cash consideration transferred	$ 1.9

FAIR VALUE MEASUREMENT - Info_2

FAIR VALUE MEASUREMENT - Information Regarding the Inputs used in Valuing the Servicer Advances (Details) - Servicer Advances	9 Months Ended
	Sep. 30, 2020
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Inputs, Cost To Service Amount	10.20%
Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Servicer Advances to UPB of Underlying Residential Mortgage Loans	1.00%
Mortgage servicing amount	16.5
Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Servicer Advances to UPB of Underlying Residential Mortgage Loans	1.60%
Mortgage servicing amount	19.7
Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Servicer Advances to UPB of Underlying Residential Mortgage Loans	1.60%
Mortgage servicing amount	19.7
Prepayment Rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.089
Prepayment Rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.099
Prepayment Rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.099
Delinquency | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.072
Delinquency | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.174
Delinquency | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.171
Discount Rate | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.052
Discount Rate | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.057
Discount Rate | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.052
Collateral Weighted Average Maturity (Years) | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, term	22 years
Collateral Weighted Average Maturity (Years) | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, term	23 years
Collateral Weighted Average Maturity (Years) | Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, term	22 years

FAIR VALUE MEASUREMENT - Securi

FAIR VALUE MEASUREMENT - Securities Valuation Methodology and Results (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)source	Dec. 31, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Face Amount	$ 30,311,608
Amortized Cost Basis	10,748,799
Real estate and other securities	$ 10,830,067	$ 19,477,728
Number of broker quotation sources | source	2
Percent of securities	83.10%
Multiple Quotes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	$ 10,828,362
Single Quote
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	1,705
Agency RMBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Face Amount	9,035,433
Amortized Cost Basis	9,362,556
Real estate and other securities	9,420,823	11,519,943
Agency RMBS | Level 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	9,420,823
Agency RMBS | Level 2 | Multiple Quotes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	9,420,823
Agency RMBS | Level 2 | Single Quote
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	0
Non-Agency RMBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Face Amount	21,276,175
Amortized Cost Basis	1,386,243
Real estate and other securities	1,409,244	$ 7,957,785
Fair Value	1,171,657
Non-Agency RMBS | Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	1,409,244
Non-Agency RMBS | Level 3 | Multiple Quotes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	1,407,539
Non-Agency RMBS | Level 3 | Single Quote
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	$ 1,705
Minimum | Non-Agency RMBS | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non agency RMBS, measurement input	0.011
Minimum | Non-Agency RMBS | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non agency RMBS, measurement input	0.010
Minimum | Non-Agency RMBS | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non agency RMBS, measurement input	0.003
Minimum | Non-Agency RMBS | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non agency RMBS, measurement input	0.128
Maximum | Non-Agency RMBS | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non agency RMBS, measurement input	0.177
Maximum | Non-Agency RMBS | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non agency RMBS, measurement input	0.300
Maximum | Non-Agency RMBS | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non agency RMBS, measurement input	0.045
Maximum | Non-Agency RMBS | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non agency RMBS, measurement input	0.950
Weighted Average | Non-Agency RMBS | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non agency RMBS, measurement input	0.042
Weighted Average | Non-Agency RMBS | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non agency RMBS, measurement input	0.131
Weighted Average | Non-Agency RMBS | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non agency RMBS, measurement input	0.008
Weighted Average | Non-Agency RMBS | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non agency RMBS, measurement input	0.480

FAIR VALUE MEASUREMENT - Schedu

FAIR VALUE MEASUREMENT - Schedule of Inputs Used In Valuing Residential Mortgage Loans, Consumer Loans, Derivatives, and Mortgage Backed Securities (Details) $ in Thousands	Sep. 30, 2020USD ($)
Residential Mortgage Loans Held-for-Sale, At Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, fair value	$ 1,183,339
Residential Mortgage Loans, Held-for-Investment, at Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, fair value	$ 718,802
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Minimum | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for investment, measurement input	0.067
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Minimum | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for investment, measurement input	0.028
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Minimum | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for investment, measurement input	0.020
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Minimum | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for investment, measurement input	0.300
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Maximum | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for investment, measurement input	0.095
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Maximum | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for investment, measurement input	0.029
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Maximum | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for investment, measurement input	0.065
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Maximum | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for investment, measurement input	0.492
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Weighted Average | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for investment, measurement input	0.069
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Weighted Average | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for investment, measurement input	0.028
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Weighted Average | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for investment, measurement input	0.061
Residential Mortgage Loans, Held-for-Investment, at Fair Value | Weighted Average | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for investment, measurement input	0.475
Consumer Loans Held-for-Investment, At Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, at fair value	$ 722,110
Consumer Loans Held-for-Investment, At Fair Value | Minimum | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, measurement input	0.080
Consumer Loans Held-for-Investment, At Fair Value | Minimum | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, measurement input	0.183
Consumer Loans Held-for-Investment, At Fair Value | Minimum | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, measurement input	0.055
Consumer Loans Held-for-Investment, At Fair Value | Minimum | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, measurement input	0.821
Consumer Loans Held-for-Investment, At Fair Value | Maximum | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, measurement input	0.102
Consumer Loans Held-for-Investment, At Fair Value | Maximum | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, measurement input	0.315
Consumer Loans Held-for-Investment, At Fair Value | Maximum | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, measurement input	0.180
Consumer Loans Held-for-Investment, At Fair Value | Maximum | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, measurement input	0.902
Consumer Loans Held-for-Investment, At Fair Value | Weighted Average | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, measurement input	0.080
Consumer Loans Held-for-Investment, At Fair Value | Weighted Average | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, measurement input	0.184
Consumer Loans Held-for-Investment, At Fair Value | Weighted Average | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, measurement input	0.056
Consumer Loans Held-for-Investment, At Fair Value | Weighted Average | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, held-for-investment, measurement input	0.821
IRLCs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, fair value	$ 245,964
IRLCs | Minimum | Loan Funding Probability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	0
IRLCs | Minimum | Fair Value of Initial Servicing Rights
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	0.060
IRLCs | Maximum | Loan Funding Probability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	1
IRLCs | Maximum | Fair Value of Initial Servicing Rights
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	253.3
IRLCs | Weighted Average | Loan Funding Probability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	0.810
IRLCs | Weighted Average | Fair Value of Initial Servicing Rights
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	103.4
Mortgage-Backed Securities Issued
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, fair value	$ 1,756,632
Mortgage-Backed Securities Issued | Minimum | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.019
Mortgage-Backed Securities Issued | Minimum | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.050
Mortgage-Backed Securities Issued | Minimum | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.030
Mortgage-Backed Securities Issued | Minimum | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.200
Mortgage-Backed Securities Issued | Maximum | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.054
Mortgage-Backed Securities Issued | Maximum | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.196
Mortgage-Backed Securities Issued | Maximum | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.500
Mortgage-Backed Securities Issued | Maximum | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.956
Mortgage-Backed Securities Issued | Weighted Average | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.032
Mortgage-Backed Securities Issued | Weighted Average | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.151
Mortgage-Backed Securities Issued | Weighted Average | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.099
Mortgage-Backed Securities Issued | Weighted Average | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Securities, measurement input	0.554
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, fair value	$ 1,169,628
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Minimum | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.035
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Minimum | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Minimum | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.020
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Minimum | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Maximum | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.085
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Maximum | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.070
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Maximum | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.070
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Maximum | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.300
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Weighted Average | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.051
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Weighted Average | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.043
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Weighted Average | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.040
Purchased Credit Deteriorated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Weighted Average | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.174
Originated | Residential Mortgage Loans Held-for-Sale, At Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, fair value	$ 13,711
Originated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.029
Originated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.016
Originated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.070
Originated | Residential Mortgage Loans Held-for-Sale, At Fair Value | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held for sale, measurement input	0.100

FAIR VALUE MEASUREMENT - Sche_2

FAIR VALUE MEASUREMENT - Schedule of Inputs Used in Valuing Assets and Liabilities At Fair Value (Details) - Fair Value, Measurements, Nonrecurring - Total $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 572,505
Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.072
Weighted Average Life (Years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	3 years 7 months 6 days
Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.036
Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.027
Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.336
Performing Loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 191,580
Non-Performing Loans
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	$ 380,925
Minimum | Performing Loans | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.045
Minimum | Performing Loans | Weighted Average Life (Years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	3 years
Minimum | Performing Loans | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.051
Minimum | Performing Loans | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.008
Minimum | Performing Loans | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.287
Minimum | Non-Performing Loans | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.075
Minimum | Non-Performing Loans | Weighted Average Life (Years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	3 years
Minimum | Non-Performing Loans | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.020
Minimum | Non-Performing Loans | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.029
Minimum | Non-Performing Loans | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.300
Maximum | Performing Loans | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.095
Maximum | Performing Loans | Weighted Average Life (Years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	9 years 1 month 6 days
Maximum | Performing Loans | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.070
Maximum | Performing Loans | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.122
Maximum | Performing Loans | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	1
Maximum | Non-Performing Loans | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.075
Maximum | Non-Performing Loans | Weighted Average Life (Years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	3 years
Maximum | Non-Performing Loans | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.020
Maximum | Non-Performing Loans | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.029
Maximum | Non-Performing Loans | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.300
Weighted Average | Performing Loans | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.066
Weighted Average | Performing Loans | Weighted Average Life (Years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	4 years 10 months 24 days
Weighted Average | Performing Loans | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.068
Weighted Average | Performing Loans | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.025
Weighted Average | Performing Loans | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.407
Weighted Average | Non-Performing Loans | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.075
Weighted Average | Non-Performing Loans | Weighted Average Life (Years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	3 years
Weighted Average | Non-Performing Loans | Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.020
Weighted Average | Non-Performing Loans | Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.029
Weighted Average | Non-Performing Loans | Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.300

CONSOLIDATED VARIABLE INTERES_3

CONSOLIDATED VARIABLE INTEREST ENTITIES - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
VIE, consolidated
Variable Interest Entity [Line Items]
New Residential Interest in Investees	73.20%
Capital distributed to third-party co-investors	$ 328.4
Capital distributed to New Residential	$ 306.9
Consumer Loan Companies
Variable Interest Entity [Line Items]
Ownership interest	53.50%

CONSOLIDATED VARIABLE INTERES_4

CONSOLIDATED VARIABLE INTEREST ENTITIES - Variable Interest Entities, Characteristics (Details) - SAFT 2013-1 Securitization Entity - VIE, consolidated - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Variable Interest Entity [Line Items]
UPB of Underlying Mortgages	$ 14,823,202	$ 11,183,024
Weighted average delinquency	4.82%	1.97%
Net credit losses	$ 50,355	$ 5,738
Face amount of debt held by third parties	12,884,341	10,074,690
Carrying value of bonds retained by New Residential	1,549,112	1,258,292
Cash flows received by New Residential on these bonds	$ 225,545	$ 161,794
Number of days delinquent (in days)	60 days

CONSOLIDATED VARIABLE INTERES_5

CONSOLIDATED VARIABLE INTEREST ENTITIES - Variable Interest Entities, Assets and Liabilities (Details) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Assets
Servicer advance investments, at fair value	[1]	$ 535,760	$ 581,777
Residential mortgage loans, held-for-sale		4,936,826	6,042,664
Cash and cash equivalents	[1]	841,022	528,737
Restricted cash		180,554	162,197
Other assets		1,161,933	1,395,800
Total assets		30,406,364	44,863,454
Liabilities
Accrued expenses and other liabilities	[1]	497,838	600,790
Total liabilities		24,977,733	37,627,194
VIE, consolidated
Assets
Servicer advance investments, at fair value		521,882	565,271
Residential mortgage loans, held-for-investment, at fair value		390,890	913,030
Residential mortgage loans, held-for-sale		352,225
Residential mortgage loans, held-for-sale, at fair value		622,269
Consumer loans, held-for-investment, at fair value		718,355	818,943
Cash and cash equivalents		76,295	53,867
Restricted cash		10,934	14,423
Other assets		25,935	18,379
Total assets		2,718,785	2,383,913
Liabilities
Secured notes and bonds payable		2,175,283	1,913,696
Accrued expenses and other liabilities		14,700	20,038
Total liabilities		2,189,983	1,933,734
VIE, consolidated | The Buyer
Assets
Servicer advance investments, at fair value		521,882	565,271
Residential mortgage loans, held-for-investment, at fair value		0	0
Residential mortgage loans, held-for-sale		0
Residential mortgage loans, held-for-sale, at fair value		0
Consumer loans, held-for-investment, at fair value		0	0
Cash and cash equivalents		40,653	30,065
Restricted cash		5,044	5,350
Other assets		6	2,414
Total assets		567,585	603,100
Liabilities
Secured notes and bonds payable		404,907	433,300
Accrued expenses and other liabilities		2,237	1,593
Total liabilities		407,144	434,893
VIE, consolidated | Shelter Joint Ventures
Assets
Servicer advance investments, at fair value		0	0
Residential mortgage loans, held-for-investment, at fair value		0	0
Residential mortgage loans, held-for-sale		0
Residential mortgage loans, held-for-sale, at fair value		0
Consumer loans, held-for-investment, at fair value		0	0
Cash and cash equivalents		35,642	23,802
Restricted cash		0	0
Other assets		9,896	3,556
Total assets		45,538	27,358
Liabilities
Secured notes and bonds payable		0	0
Accrued expenses and other liabilities		8,906	4,187
Total liabilities		8,906	4,187
VIE, consolidated | Residential Mortgage Loans
Assets
Servicer advance investments, at fair value		0	0
Residential mortgage loans, held-for-investment, at fair value		390,890	913,030
Residential mortgage loans, held-for-sale		352,225
Residential mortgage loans, held-for-sale, at fair value		622,269
Consumer loans, held-for-investment, at fair value		0	0
Cash and cash equivalents		0	0
Restricted cash		0	0
Other assets		6,183	0
Total assets		1,371,567	913,030
Liabilities
Secured notes and bonds payable		1,091,426	659,738
Accrued expenses and other liabilities		1,871	10,132
Total liabilities		1,093,297	669,870
VIE, consolidated | Consumer Loan Companies
Assets
Servicer advance investments, at fair value		0	0
Residential mortgage loans, held-for-investment, at fair value		0	0
Residential mortgage loans, held-for-sale		0
Residential mortgage loans, held-for-sale, at fair value		0
Consumer loans, held-for-investment, at fair value		718,355	818,943
Cash and cash equivalents		0	0
Restricted cash		5,890	9,073
Other assets		9,850	12,409
Total assets		734,095	840,425
Liabilities
Secured notes and bonds payable		678,950	820,658
Accrued expenses and other liabilities		1,686	4,126
Total liabilities		$ 680,636	$ 824,784
[1]	See Note 13 regarding consolidated VIEs.

CONSOLIDATED VARIABLE INTERES_6

CONSOLIDATED VARIABLE INTEREST ENTITIES - Others' Interest in Equity of Consumer Loan Companies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Noncontrolling Interest [Line Items]
Total consolidated equity	$ 5,428,631	$ 7,262,117	$ 5,428,631	$ 7,262,117	$ 5,388,972	$ 7,236,260	$ 6,800,830	$ 6,088,295
Others’ interests in equity of consolidated subsidiary	99,437		99,437			78,550
Net income	103,920	244,660	(1,459,206)	375,552
Noncontrolling interests in income (loss) of consolidated subsidiaries	11,640	14,738	$ 34,118	31,979
VIE, consolidated
Noncontrolling Interest [Line Items]
New Residential Interest in Investees			73.20%
VIE, consolidated | The Buyer
Noncontrolling Interest [Line Items]
Total consolidated equity	160,440		$ 160,440			168,207
Others’ interests in equity of consolidated subsidiary	42,946		42,946			45,025
Net income	9,761	6,288	(162)	16,678
Noncontrolling interests in income (loss) of consolidated subsidiaries	2,612	1,684	(44)	4,466
VIE, consolidated | Shelter Joint Ventures
Noncontrolling Interest [Line Items]
Total consolidated equity	36,612		36,612			23,171
Others’ interests in equity of consolidated subsidiary	18,365		18,365			11,354
Net income	9,649	5,098	21,017	9,144
Noncontrolling interests in income (loss) of consolidated subsidiaries	4,840	2,457	10,542	4,407
VIE, consolidated | Consumer Loan Companies
Noncontrolling Interest [Line Items]
Total consolidated equity	80,782		80,782			46,510
Others’ interests in equity of consolidated subsidiary	38,126		38,126			$ 22,171
Net income	9,006	22,790	50,795	49,690
Noncontrolling interests in income (loss) of consolidated subsidiaries	$ 4,188	$ 10,597	$ 23,620	$ 23,106
VIE, consolidated | The Buyer
Noncontrolling Interest [Line Items]
Others’ ownership interest	26.80%		26.80%			26.80%
New Residential Interest in Investees	73.20%	73.20%	73.20%	73.20%
VIE, consolidated | Shelter Joint Ventures
Noncontrolling Interest [Line Items]
Others’ ownership interest	50.20%		50.20%			49.00%
VIE, consolidated | Consumer Loan Companies
Noncontrolling Interest [Line Items]
Others’ ownership interest	46.50%		46.50%			46.50%
Weighted Average | VIE, consolidated | The Buyer
Noncontrolling Interest [Line Items]
Others’ ownership interest	26.80%	26.80%	26.80%	26.80%
Weighted Average | VIE, consolidated | Shelter Joint Ventures
Noncontrolling Interest [Line Items]
Others’ ownership interest	50.20%	48.20%	50.20%	48.20%
Weighted Average | VIE, consolidated | Consumer Loan Companies
Noncontrolling Interest [Line Items]
Others’ ownership interest	46.50%	46.50%	46.50%	46.50%

EQUITY AND EARNINGS PER SHARE -

EQUITY AND EARNINGS PER SHARE - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 23, 2020	May 27, 2020	May 19, 2020	Feb. 14, 2020	Aug. 20, 2019	Aug. 15, 2019	Aug. 01, 2019	Jul. 02, 2019	Jul. 30, 2018	Feb. 29, 2020	Aug. 31, 2019	Jul. 31, 2019	Feb. 28, 2019	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Issuance of stock (in shares)													46,000,000
Shares issued, price per share (in dollars per share)													$ 16.50
Issuance of common stock													$ 751,700			$ 1,734	$ 752,217
Options granted (in shares)																1,619,739
Common stock, par value (in dollars per share)			$ 0.01											$ 0.01		$ 0.01		$ 0.01
Number of shares issued (in shares)																33,610,000
Preferred stock, par values (in dollars per share)														$ 0.01		$ 0.01		$ 0.01
Common stock, shares outstanding (in shares)														415,744,518		415,744,518		415,520,780
Authorized repurchase amount					$ 200,000
Share repurchases (in shares)					0
Fair value			$ 53,500
Share price (in dollars per share)														$ 7.95		$ 7.95
Fortress-managed funds
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Common stock, shares outstanding (in shares)														2,400,000		2,400,000
Share-based Payment Arrangement, Nonemployee
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options granted (in shares)													4,600,000
Options granted, fair value													$ 3,800
Risk free interest rate													2.40%
Expected dividend rate													9.30%
Expected volatility rate													19.26%
Expected term (in years)													10 years
Share-based Payment Arrangement, Nonemployee | Common stock purchase warrants
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options granted (in shares)		43,400,000														43,400,000
Risk free interest rate			0.24%
Expected volatility rate			35.00%
Expected term (in years)			3 years
Exercise price range, lower range limit (in dollars per share)			$ 6.11
Exercise price range, upper range limit (in dollars per share)			$ 7.94
Share-based Payment Arrangement, Nonemployee | Common stock purchase warrants | Exercise Price One
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares exercisable (in shares)			24,600,000
Exercise price (in dollars per share)			$ 6.11
Share-based Payment Arrangement, Nonemployee | Common stock purchase warrants | Exercise Price Two
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares exercisable (in shares)			18,900,000
Exercise price (in dollars per share)			$ 7.94
7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Risk free interest rate								1.91%
Expected dividend rate								9.73%
Expected volatility rate								17.95%
Expected term (in years)								10 years
Net proceeds from liquidation								$ 150,000
Number of shares issued (in shares)								6,200,000				6,210,000
Interest rate								7.50%				7.50%				7.50%		7.50%
Preferred stock, par values (in dollars per share)								$ 0.01						$ 0.01		$ 0.01		$ 0.01
Liquidation preference per share (in dollars per share)								$ 25
Dividends declared on preferred stock (in dollars per share)	$ 0.47													0.47		$ 1,410
Preferred dividends	$ 2,900
7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock | Share-based Payment Arrangement, Nonemployee
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Fair value of options granted to Manager								$ 500
7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Risk free interest rate						1.56%
Expected dividend rate						11.20%
Expected volatility rate						18.23%
Expected term (in years)						10 years
Net proceeds from liquidation						$ 273,400
Number of shares issued (in shares)						11,300,000					11,300,000
Interest rate						7.125%					7.125%				7.125%	7.125%
Preferred stock, par values (in dollars per share)						$ 0.01								0.01		$ 0.01		0.01
Liquidation preference per share (in dollars per share)						$ 25
Dividends declared on preferred stock (in dollars per share)	$ 0.45													0.45		$ 1,340
Preferred dividends	$ 5,000
7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock | Share-based Payment Arrangement, Nonemployee
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Fair value of options granted to Manager						$ 700
6.375% Series C Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Risk free interest rate				1.55%
Expected dividend rate				9.00%
Expected volatility rate				17.39%
Expected term (in years)				10 years
Net proceeds from liquidation				$ 389,500
Number of shares issued (in shares)				16,100,000						16,100,000
Interest rate				6.375%						6.375%					6.375%	6.375%
Preferred stock, par values (in dollars per share)				$ 0.01										0.01		$ 0.01		$ 0.01
Liquidation preference per share (in dollars per share)				$ 25
Dividends declared on preferred stock (in dollars per share)	$ 0.40													$ 0.40		$ 1,200
Preferred dividends	$ 6,400
6.375% Series C Preferred Stock | Share-based Payment Arrangement, Nonemployee
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Fair value of options granted to Manager				$ 1,000
Distribution Agreement
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Common stock, par value (in dollars per share)									$ 0.01
Over-Allotment Option | 7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares issued (in shares)								600,000
Over-Allotment Option | 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares issued (in shares)						1,100,000
Over-Allotment Option | 6.375% Series C Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares issued (in shares)				1,600,000
Common Stock | Distribution Agreement
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Net proceeds from liquidation							$ 500,000		$ 500,000

EQUITY AND EARNINGS PER SHARE_2

EQUITY AND EARNINGS PER SHARE - Schedule of ATM Program Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2020
Equity, Class of Treasury Stock [Line Items]
Number of Common shares (in shares)				33,610,000
Options granted (in shares)				1,619,739
ATM Program
Equity, Class of Treasury Stock [Line Items]
Number of Common shares (in shares)	0	0	97,394,000
Average price per share (in dollars per share)	$ 0	$ 0	$ 17.06	$ 0
Gross Proceeds	$ 0	$ 0	$ 1,662
Fees	0	0	12
Net Proceeds	$ 0	$ 0	$ 1,649
ATM Program | Share-based Payment Arrangement, Employee | Held by the Manager
Equity, Class of Treasury Stock [Line Items]
Options granted (in shares)				10,000
Issuance of stock				$ 200

EQUITY AND EARNINGS PER SHARE_3

EQUITY AND EARNINGS PER SHARE - Schedule of Preferred Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 23, 2020	Feb. 14, 2020	Aug. 15, 2019	Jul. 02, 2019	Feb. 29, 2020	Aug. 31, 2019	Jul. 31, 2019	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Number of shares issued (in shares)										33,610,000
Liquidation Preference								$ 840,250		$ 840,250
Carrying Value								812,992		812,992
7.50% Series A Preferred Stock
Class of Stock [Line Items]
Number of shares issued (in shares)				6,200,000			6,210,000
Liquidation Preference							$ 155,250
Issuance Discount							3.15%
Carrying Value								$ 150,026		$ 150,026
Dividends (in dollars per share)	$ 0.47							$ 0.47		$ 1,410
Interest rate				7.50%			7.50%			7.50%	7.50%
7.125% Series B Preferred Stock
Class of Stock [Line Items]
Number of shares issued (in shares)			11,300,000			11,300,000
Liquidation Preference						$ 282,500
Issuance Discount						3.15%
Carrying Value								$ 273,418		$ 273,418
Dividends (in dollars per share)	0.45							$ 0.45		$ 1,340
Interest rate			7.125%			7.125%			7.125%	7.125%
6.375% Series C Preferred Stock
Class of Stock [Line Items]
Number of shares issued (in shares)		16,100,000			16,100,000
Liquidation Preference					$ 402,500
Issuance Discount					3.15%
Carrying Value								$ 389,548		$ 389,548
Dividends (in dollars per share)	$ 0.40							$ 0.40		$ 1,200
Interest rate		6.375%			6.375%				6.375%	6.375%

EQUITY AND EARNINGS PER SHARE_4

EQUITY AND EARNINGS PER SHARE - Schedule of Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 23, 2020	Jun. 22, 2020	Mar. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Dividends Payable [Line Items]
Dividend declared per Share of Common Stock (in dollars per share)				$ 0.15	$ 0.50	$ 0.30	$ 1.50
Total Amounts Distributed	$ 0	$ 41.6	$ 20.8
Quarterly Dividend
Dividends Payable [Line Items]
Dividend declared per Share of Common Stock (in dollars per share)	$ 0.15	$ 0.10	$ 0.05

EQUITY AND EARNINGS PER SHARE_5

EQUITY AND EARNINGS PER SHARE - Schedule of Warrants (Details) - $ / shares	May 27, 2020	Feb. 28, 2019	Sep. 30, 2020
Number of Warrants (in millions)
Beginning balance (in shares)			12,808,916
Options granted (in shares)			1,619,739
Exercised (in shares)			0
Options expired unexercised (in shares)			0
Ending balance (in shares)			14,428,655
Weighted Average Exercise Price (per share)
Granted (in dollars per share)			$ 17.41
Exercised (in dollars per share)			0
Expired (in dollars per share)			$ 0
Share-based Payment Arrangement, Nonemployee
Number of Warrants (in millions)
Options granted (in shares)		4,600,000
Share-based Payment Arrangement, Nonemployee | Common stock purchase warrants
Number of Warrants (in millions)
Beginning balance (in shares)			0
Options granted (in shares)	43,400,000		43,400,000
Exercised (in shares)			0
Options expired unexercised (in shares)			0
Ending balance (in shares)			43,400,000
Weighted Average Exercise Price (per share)
December 31, 2019 outstanding warrants (in dollars per share)			$ 0
Granted (in dollars per share)			6.91
Exercised (in dollars per share)			0
Expired (in dollars per share)			0
September 30, 2020 outstanding warrants (in dollars per share)			$ 6.91

EQUITY AND EARNINGS PER SHARE_6

EQUITY AND EARNINGS PER SHARE - Options Outstanding by Issuance (Details)	Sep. 30, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	14,428,655
Held by the Manager
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	10,860,706
Issued to the Manager and subsequently assigned to certain of the Manager’s employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	3,560,949
Issued to the independent directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	7,000
Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options (in shares)	14,428,655

EQUITY AND EARNINGS PER SHARE_7

EQUITY AND EARNINGS PER SHARE - Summary of Outstanding Options - Period End (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	14,428,655
Options exercisable (in shares)	9,761,240
Issued to the independent directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	7,000
Stock Options | Issued to the independent directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date of grant	Various
Number of unexercised options (in shares)	7,000
Options exercisable (in shares)	7,000
Weighted average exercise price (in dollars per share) | $ / shares	$ 13.57
Intrinsic Value of Exercisable Options as of September 30, 2020 (millions) | $	$ 0
Stock Options | Manager | 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date of grant	2017
Number of unexercised options (in shares)	1,130,916
Options exercisable (in shares)	1,130,916
Weighted average exercise price (in dollars per share) | $ / shares	$ 13.95
Intrinsic Value of Exercisable Options as of September 30, 2020 (millions) | $	$ 0
Stock Options | Manager | 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date of grant	2018
Number of unexercised options (in shares)	5,320,000
Options exercisable (in shares)	4,552,585
Weighted average exercise price (in dollars per share) | $ / shares	$ 16.67
Intrinsic Value of Exercisable Options as of September 30, 2020 (millions) | $	$ 0
Stock Options | Manager | 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date of grant	2019
Number of unexercised options (in shares)	6,351,000
Options exercisable (in shares)	3,692,800
Weighted average exercise price (in dollars per share) | $ / shares	$ 16.14
Intrinsic Value of Exercisable Options as of September 30, 2020 (millions) | $	$ 0
Stock Options | Manager | 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Date of grant	2020
Number of unexercised options (in shares)	1,619,739
Options exercisable (in shares)	377,939
Weighted average exercise price (in dollars per share) | $ / shares	$ 17.41
Intrinsic Value of Exercisable Options as of September 30, 2020 (millions) | $	$ 0
Options Granted In 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	1,130,916
Weighted average exercise price (in dollars per share) | $ / shares	$ 13.95
Options Granted in 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	1,159,833
Options Granted In 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	1,270,200
Options Assigned
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	3,560,949
Minimum | Options Granted in 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share) | $ / shares	$ 16.55
Minimum | Options Granted In 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share) | $ / shares	15.14
Maximum | Options Granted in 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share) | $ / shares	18.02
Maximum | Options Granted In 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average exercise price (in dollars per share) | $ / shares	$ 16.68

EQUITY AND EARNINGS PER SHARE_8

EQUITY AND EARNINGS PER SHARE - Summary of Outstanding Options (Details)	9 Months Ended
	Sep. 30, 2020$ / sharesshares
Number of Warrants (in millions)
Beginning balance (in shares)	12,808,916
Options granted (in shares)	1,619,739
Options exercised (in shares)	0
Options expired unexercised (in shares)	0
Ending balance (in shares)	14,428,655
Weighted Average Exercise Price (per share)
Granted (in dollars per share) | $ / shares	$ 17.41
Exercised (in dollars per share) | $ / shares	0
Expired (in dollars per share) | $ / shares	$ 0

EQUITY AND EARNINGS PER SHARE_9

EQUITY AND EARNINGS PER SHARE - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss)	$ 103,920	$ 244,660	$ (1,459,206)	$ 375,552
Noncontrolling interests in income (loss) of consolidated subsidiaries	11,640	14,738	34,118	31,979
Dividends on preferred stock	14,359	5,338	39,938	5,338
Net Income (Loss) Attributable to Common Stockholders	$ 77,921	$ 224,584	$ (1,533,262)	$ 338,235
Basic weighted average shares of common stock outstanding (in shares)	415,744,518	415,520,780	415,665,441	406,521,273
Diluted weighted average shares of common stock outstanding (in shares)	420,968,626	415,588,238	415,665,441	406,671,972
Basic earnings per share attributable to common stockholders (in dollars per share)	$ 0.19	$ 0.54	$ (3.69)	$ 0.83
Diluted earnings per share attributable to common stockholders (in dollars per share)	$ 0.19	$ 0.54	$ (3.69)	$ 0.83
Stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of stock options (in shares)	0	67,458	0	150,699
Common stock purchase warrants
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of stock options (in shares)	5,224,108	0	0	0

EQUITY AND EARNINGS PER SHAR_10

EQUITY AND EARNINGS PER SHARE - Schedule of Antidilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from the calculation of diluted net income (loss) per share (in shares)	0	0	0	0
Common stock purchase warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from the calculation of diluted net income (loss) per share (in shares)	0	0	5,966,141,000	0

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Loss Contingencies [Line Items]
Estimated liability, representation and warranties	$ 9.6		$ 9.6
Residential mortgage loan repurchase liability	1,500		1,500
Rent expense, net of sublease income	3.3	$ 2.4	10.1	$ 6.8
Sublease rentals	1.3		1.3
Unfunded Loan Commitment | Consumer Portfolio Segment | Consumer Loan Companies
Loss Contingencies [Line Items]
Financing receivable	$ 264.2		$ 264.2

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Schedule of Future Commitments for Non-Cancelable Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
October 1 through December 31, 2020	$ 3,621
2021	12,428
2022	9,635
2023	5,478
2024	2,759
2025 and thereafter	2,148
Total remaining undiscounted lease payments	36,069
Less: imputed interest	4,168
Total remaining discounted lease payments	$ 31,901	$ 38,520

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Other Information Related to Operating Leases (Details)	Sep. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Weighted-average remaining lease term (years)	3 years 4 months 24 days	3 years 10 months 24 days
Weighted-average discount rate	4.50%	4.50%

TRANSACTIONS WITH AFFILIATES _3

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES - Narrative (Details) $ / shares in Units, $ in Millions	May 27, 2020shares	May 19, 2020USD ($)$ / shares	Mar. 31, 2020USD ($)purchasers	Feb. 28, 2019shares	Sep. 30, 2020$ / sharesshares	Dec. 31, 2019$ / shares
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					0.6667
Number of purchasers | purchasers			6
Mortgage-backed securities			$ 6,100
Proceeds from sale of mortgage-backed securities			3,300
Options granted (in shares) | shares					1,619,739
Common stock, par value (in dollars per share) | $ / shares		$ 0.01			$ 0.01	$ 0.01
Share-based Payment Arrangement, Nonemployee
Related Party Transaction [Line Items]
Options granted (in shares) | shares				4,600,000
Common stock purchase warrants | Share-based Payment Arrangement, Nonemployee
Related Party Transaction [Line Items]
Options granted (in shares) | shares	43,400,000				43,400,000
Percentage of lenders and recipients managed by an affiliate of the manager		0.48
2020 Term Loan
Related Party Transaction [Line Items]
Debt instrument, term		3 years
Principal amount		$ 600
Fortress Purchaser
Related Party Transaction [Line Items]
Mortgage-backed securities			1,850
Payments to acquire mortgage-backed securities			$ 1,000
Manager
Related Party Transaction [Line Items]
Management fee rate (percent)					1.50%
Incentive compensation percentage					25.00%
Interest rate for incentive compensation					10.00%

TRANSACTIONS WITH AFFILIATES _4

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES - Schedule of Affiliate Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Total	$ 9,545		$ 9,545		$ 103,882
Management fees	22,482	$ 20,678	66,682	$ 58,261
Incentive compensation	0	36,307	0	49,265
Manager
Related Party Transaction [Line Items]
Management fees	7,499		7,499		7,076
Incentive compensation	0		0		91,892
Expense reimbursements and other	2,046		2,046		4,914
Total	9,545		9,545		$ 103,882
Management fees	22,482	20,678	66,682	58,261
Incentive compensation	0	36,307	0	49,265
Expense reimbursements	125	125	375	375
Total	$ 22,607	$ 57,110	$ 67,057	$ 107,901

RECLASSIFICATION FROM ACCUMUL_3

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Provision (reversal) for credit losses on securities	$ (3,849)	$ 5,567	$ 15,166	$ 21,942
Net income (loss)	103,920	244,660	(1,459,206)	375,552
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net income (loss)	3,809	(89,436)	(738,385)	(179,280)
Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest | Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain (loss) on settlement of investments, net	7,658	(95,003)	(753,551)	(201,222)
Provision (reversal) for credit losses on securities	$ (3,849)	$ 5,567	$ 15,166	$ 21,942

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	Mar. 27, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Current:
Federal		$ 0	$ 1,198	$ (7,877)	$ 785
State and local		1,438	14	1,496	115
Total current income tax expense (benefit)		1,438	1,212	(6,381)	900
Deferred:
Federal		77,300	(5,385)	(29,921)	14,762
State and local		22,074	(1,267)	(12,345)	3,318
Total deferred income tax expense (benefit)		99,374	(6,652)	(42,266)	18,080
Total income tax expense (benefit)		100,812	$ (5,440)	(48,647)	$ 18,980
Deferred income tax asset, net		$ 49,545		$ 49,545		$ 8,669
Operating loss carryback	$ 23,000
Net tax benefit	$ 3,000