INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS EQUITY METHOD INVESTEES (Tables)

6 Months Ended

Jun. 30, 2013

Investments In Excess Mortgage Servicing Rights Equity Method Investees Tables

Schedule of investments in excess mortgage servicing rights equity method investees

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

	June 30, 2013
Excess MSR Assets	$	351,863
Other Assets (A)		22,394
Debt		—
Other Liabilities		(7,951	)
Equity	$	366,306
New Residential’s Investment	$	183,153
New Residential’s Ownership		50.0	%

(A) Includes $20.8 million of deposits related to investments which have not closed at June 30, 2013.

	Six Months Ended June 30, 2013
Interest Income	$	13,756
Other Income		31,374
Expenses		(2,938	)
Net Income	$	42,192

Schedule of Excess Mortgage Servicing Rights (MSRs) investments made through equity method investees

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

	June 30, 2013
	Unpaid Principal Balance		Investee Interest in Excess MSR			New Residential Interest in Investees			Amortized Cost Basis (A)		Carrying Value (B)		Weighted Average Yield			Weighted Average Life (Years) (C)
MSR Pool 6	$	11,149,355		66.7	%		50.0	%	$	40,027	$	44,139		12.5	%		4.8
MSR Pool 6—Recapture Agreement		—		66.7	%		50.0	%		10,683		13,284		12.5	%		10.7
MSR Pool 7		34,480,698		66.7	%		50.0	%		104,057		112,946		12.5	%		5.1
MSR Pool 7—Recapture Agreement		—		66.7	%		50.0	%		22,962		25,965		12.5	%		12.0
MSR Pool 8		15,417,544		66.7	%		50.0	%		56,180		57,960		12.5	%		5.0
MSR Pool 8—Recapture Agreement		—		66.7	%		50.0	%		12,928		14,103		12.5	%		11.7
MSR Pool 11		22,817,213		66.7	%		50.0	%		51,033		55,797		12.5	%		5.3
MSR Pool 11—Recapture Agreement		—		66.7	%		50.0	%		23,459		27,669		12.5	%		9.9
	$	83,864,810							$	321,329	$	351,863		12.5	%		6.4

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

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

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

Summary of the geographic distribution of the underlying residential mortgage loans of Excess MSRs made through equity method investees

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

State Concentration	Percentage of Total Outstanding (A)
California		13.6	%
Florida		8.3	%
Georgia		5.8	%
Texas		5.6	%
New York		5.5	%
Illinois		4.5	%
Massachusetts		3.5	%
New Jersey		3.3	%
Washington		3.0	%
Virginia		3.0	%
Other U.S.		43.9	%
		100.0	%

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