SEGMENT REPORTING

3 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

SEGMENT REPORTING

2.     SEGMENT REPORTING

New Residential conducts its business through the following segments: (i) direct and indirect investments in Excess MSRs, (ii) investments in real estate securities and loans and (iii) corporate. The corporate segment consists primarily of general and administrative expenses and the allocation of management fees by the stockholder.

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:

	Excess MSRs		Real Estate Securities and Loans		Corporate			Total
Three Months Ended March 31, 2013
Interest income	$	10,035	$	6,156	$	—		$	16,191
Interest expense		—		899		—			899
Net interest income		10,035		5,257		—			15,292
Other income		2,827		—		—			2,827
Other operating expenses		62		—		4,982			5,044
Net income (loss)	$	12,800	$	5,257	$	(4,982	)	$	13,075

	Excess MSRs			Real Estate Securities and Loans			Corporate			Total
March 31, 2013
Investments	$	339,143		$	1,353,507		$	—		$	1,692,650
Other assets		—			450			—			450
Total assets		339,143			1,353,957			—			1,693,100
Debt		—			(915,058	)		—			(915,058	)
Other liabilities		(174	)		(87	)		(10,362	)		(10,623	)
Total liabilities		(174	)		(915,145	)		(10,362	)		(925,681	)
GAAP book value	$	338,969		$	438,812		$	(10,362	)	$	767,419
Investments in equity method investees at fair value	$	102,588			—			—		$	102,588

	Excess MSRs		Real Estate Securities and Loans		Corporate			Total
Three Months Ended March 31, 2012
Interest income	$	2,037	$	—	$	—		$	2,037
Interest expense		—		—		—			—
Net interest income		2,037		—		—			2,037
Other income		1,216		—		—			1,216
Other operating expenses		386		—		179			565
Net Income (loss)	$	2,867	$	—	$	(179	)	$	2,688