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

9 Months Ended

12 Months Ended

Sep. 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:

	September 30, 2013														Nine Months Ended September 30, 2013
	Unpaid Principal Balance (“UPB”) of Underlying Mortgages		Interest in Excess MSR			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	$	7,171,426		65.0	%	$	27,255	$	37,907		12.5	%		4.9	$	4,914
MSR Pool 1—Recapture Agreement		—		65.0	%		2,230		4,629		12.5	%		11.3		1,893
MSR Pool 2		8,217,751		65.0	%		30,806		35,592		12.5	%		5.2		3,742
MSR Pool 2—Recapture Agreement		—		65.0	%		1,934		5,882		12.5	%		12.3		3,767
MSR Pool 3		8,066,890		65.0	%		25,250		34,063		12.5	%		4.8		5,958
MSR Pool 3—Recapture Agreement		—		65.0	%		3,608		5,231		12.5	%		11.6		1,699
MSR Pool 4		5,222,892		65.0	%		10,032		13,743		12.5	%		5.2		2,693
MSR Pool 4—Recapture Agreement		—		65.0	%		2,509		3,446		12.5	%		11.6		951
MSR Pool 5		38,315,786		80.0	%		121,544		142,387		12.7	%		5.4		18,864
MSR Pool 5—Recapture Agreement		—		80.0	%		9,277		4,779		12.7	%		12.5		(656	)
MSR Pool 11—Recapture Agreement		—		66.7	%		2,391		2,391		12.5	%		10.2		—
MSR Pool 12		5,321,060		40.0	%		16,963		17,032		16.4	%		4.6		69
MSR Pool 12—Recapture Agreement		—		40.0	%		479		486		16.4	%		13.6		5
	$	72,315,805				$	254,278	$	307,568		12.9	%		5.8	$	43,899

(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 September 30, 2013:

State Concentration	Percentage of Total Outstanding
California		30.3	%
Florida		10.1	%
New York		4.7	%
Texas		4.2	%
Washington		4.1	%
Arizona		3.7	%
Maryland		3.6	%
Colorado		3.3	%
New Jersey		3.3	%
Virginia		3.1	%
Other U.S.		29.6	%
		100.0	%

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.