INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS AT FAIR VALUE (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2013

Dec. 31, 2012

Investments In Excess Mortgage Servicing Rights At Fair Value Tables

Schedule of direct investment in Excess Mortgage Servicing Rights (MSRs)

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

	June 30, 2013											Six Months Ended June 30, 2013
	Unpaid Principal Balance (“UPB”) of Underlying Mortgages		Amortized Cost Basis (A)		Carrying Value (B)		Weighted Average Yield			Weighted Average Life (Years) (C)		Changes in Fair Value Recorded in Other Income (D)
MSR Pool 1	$	7,593,438	$	28,120	$	39,147		12.5	%		4.9	$	5,290
MSR Pool 1—Recapture Agreement		—		2,980		5,383		12.5	%		11.0		1,897
MSR Pool 2		8,570,405		31,629		37,339		12.5	%		5.1		4,666
MSR Pool 2—Recapture Agreement		—		2,934		6,557		12.5	%		12.1		3,441
MSR Pool 3		8,380,524		25,351		33,183		12.5	%		4.8		4,976
MSR Pool 3—Recapture Agreement		—		4,088		5,755		12.5	%		11.5		1,742
MSR Pool 4		5,381,133		10,205		13,176		12.5	%		4.6		1,952
MSR Pool 4—Recapture Agreement		—		2,657		3,533		12.5	%		11.1		891
MSR Pool 5		39,989,031		99,530		121,102		12.5	%		5.5		19,594
MSR Pool 5—Recapture Agreement		—		8,454		3,854		12.5	%		12.8		(758	)
MSR Pool 11—Recapture Agreement		—		2,391		2,391		12.5	%		—		—
	$	69,914,531	$	218,339	$	271,420		12.5	%		5.8	$	43,691

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

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

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

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

The following is a summary of New Residential’s Excess MSRs at December 31, 2012 and 2011:

	December 31, 2011											Period From Dec 8, 2011 (Commencement of Operations) Through Dec 31, 2011
Description	Unpaid Principal Balance		Amortized Cost Basis(A)		Carrying Value(B)		Wtd. Avg. Yield			Wtd. Avg. Maturity (Years)(C)		Changes in Fair Value Recorded in Income(D)
Pool 1	$	9,705,512	$	37,469	$	37,637		20.0	%		4.5	$	168
Pool 1-Recapture Agreement		—		6,135		6,334		20.0	%		10.3		199
	$	9,705,512	$	43,604	$	43,971		20.0	%		6.0	$	367

Description	December 31, 2012											Year Ended December 31, 2012
	Unpaid Principal Balance		Amortized Cost Basis(A)		Carrying Value(B)		Wtd. Avg. Yield			Wtd. Avg. Maturity (Years)(C)		Changes in Fair Value Recorded in Income(D)
Pool 1	$	8,403,211	$	30,237	$	35,974		18.0	%		4.8	$	5,569
Pool 1-Recapture Agreement		—		4,430		4,936		18.0	%		10.8		307
Pool 2		9,397,120		32,890		33,935		17.3	%		5.0		1,045
Pool 2-Recapture Agreement		—		5,206		5,387		17.3	%		11.8		181
Pool 3		9,069,726		27,618		30,474		17.6	%		4.7		2,856
Pool 3-Recapture Agreement		—		5,036		4,960		17.6	%		11.3		(76	)
Pool 4		5,788,133		11,130		12,149		17.9	%		4.6		1,019
Pool 4-Recapture Agreement		—		2,902		2,887		17.9	%		11.1		(15	)
Pool 5		43,902,561		107,704		109,682		17.5	%		4.8		1,978
Pool 5-Recapture Agreement		—		8,493		4,652		17.5	%		11.7		(3,841	)
	$	76,560,751	$	235,646	$	245,036		17.6	%		5.4	$	9,023

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

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

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

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

Summary of the geographic distribution of the underlying residential mortgage loans of the direct investment in Excess MSRs

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

State Concentration	Percentage of Total Outstanding (A)
California		31.5	%
Florida		10.1	%
New York		4.5	%
Washington		4.3	%
Arizona		3.8	%
Texas		3.6	%
Maryland		3.5	%
Colorado		3.5	%
New Jersey		3.2	%
Virginia		3.1	%
Other U.S.		28.9	%
		100.0	%

(A) Based on the information provided by the loan servicer as of June 30, 2013.

The table below summarizes the geographic distribution of the underlying residential mortgage loans of the Excess MSRs at December 31, 2012 and 2011:

Percentage of Total Outstanding Unpaid Principal Amount(A)
December 31, 2012				December 31, 2011
State Concentration	Percentage			State Concentration	Percentage
California		32.0	%	California		19.4	%
Florida		10.1	%	Florida		11.1	%
Washington		4.3	%	Texas		6.7	%
New York		4.3	%	Arizona		4.8	%
Arizona		3.9	%	Virginia		3.5	%
Texas		3.6	%	Washington		3.2	%
Colorado		3.5	%	New Jersey		3.1	%
Maryland		3.4	%	Maryland		3.1	%
New Jersey		3.1	%	Illinois		3.0	%
Virginia		3.0	%	Nevada		2.7	%
Other U.S.		28.8	%	Other U.S.		39.4	%
		100.0	%			100.0	%

(A) Based on the information provided by the loan servicer as of the most recent remittance for the respective dates.