SEGMENT REPORTING

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

New Residential conducts its business through the following segments: (i) investments in Excess MSRs, (ii) investments in servicer advances, (iii) investments in real estate securities, (iv) investments in real estate loans, (v) investments in consumer loans and (vi) corporate. The corporate segment consists primarily of (i) general and administrative expenses, (ii) the allocation of management fees by Newcastle until the spin-off on May 15, 2013, (iii) the management fees and incentive compensation owed to the Manager by New Residential following the spin-off, (iv) corporate cash and related interest income and (v) the secured corporate loan and related interest expense during the period it was outstanding.

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 Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
Year Ended December 31, 2014
Interest income	$	49,180	$	190,206	$	60,208	$	47,262	$	—		$	1		$	346,857
Interest expense	1,294		110,968		12,689		11,073		4,184			500			140,708
Net interest income (expense)	47,886		79,238		47,519		36,189		(4,184		)	(499		)	206,149
Impairment	—		—		1,391		9,891		—			—			11,282
Other income	100,052		83,828		14,589		30,759		145,860			—			375,088
Operating expenses	713		2,183		10,012		12,688		917			78,386			104,899
Income (Loss) Before Income Taxes	147,225		160,883		50,705		44,369		140,759			(78,885		)	465,056
Income tax expense	—		20,806		—		2,059		92			—			22,957
Net Income (Loss)	$	147,225	$	140,077	$	50,705	$	42,310	$	140,667		$	(78,885	)	$	442,099
Noncontrolling interests in income     (loss) of consolidated subsidiaries	$	—	$	89,222	$	—	$	—	$	—		$	—		$	89,222
Net income (loss) attributable to     common stockholders	$	147,225	$	50,855	$	50,705	$	42,310	$	140,667		$	(78,885	)	$	352,877
	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
December 31, 2014
Investments	$	748,609	$	3,270,839	$	2,463,163	$	1,236,210	$	—		$	—		$	7,718,821
Cash and cash equivalents	—		59,383		43,728		7,757		—			102,117			212,985
Restricted cash	—		29,418		—		—		—			—			29,418
Derivative assets	—		194		32,091		312		—			—			32,597
Other assets	—		14,652		69,980		14,159		609			469			99,869
Total assets	$	748,609	$	3,374,486	$	2,608,962	$	1,258,438	$	609		$	102,586		$	8,093,690
Debt	$	—	$	2,890,230	$	2,246,651	$	925,418	$	—		$	—		$	6,062,299
Other liabilities	215		25,467		17,511		24,141		195			113,937			181,466
Total liabilities	215		2,915,697		2,264,162		949,559		195			113,937			6,243,765
Total equity	748,394		458,789		344,800		308,879		414			(11,351		)	1,849,925
Noncontrolling interests in equity of     consolidated subsidiaries	—		253,836		—		—		—			—			253,836
Total New Residential stockholders’     equity	$	748,394	$	204,953	$	344,800	$	308,879	$	414		$	(11,351	)	$	1,596,089
Investments in equity method investees	$	330,876	$	—	$	—	$	—	$	—		$	—		$	330,876

	Servicing Related Assets					Residential Securities and Loans
	Excess MSRs		Servicer Advances			Real Estate Securities		Real Estate Loans		Consumer Loans		Corporate			Total
Year Ended December 31, 2013
Interest income	$	40,921	$	4,421		$	39,533	$	2,650	$	—	$	42		$	87,567
Interest expense	—		3,901			10,876		—		—		247			15,024
Net interest income (expense)	40,921		520			28,657		2,650		—		(205		)	72,543
Impairment	—		—			4,993		461		—		—			5,454
Other income	103,675		—			52,645		1,832		82,856		—			241,008
Operating expenses	215		2,077			312		357		2,076		37,437			42,474
Income (Loss) Before Income Taxes	144,381		(1,557		)	75,997		3,664		80,780		(37,642		)	265,623
Income tax expense	—		—			—		—		—		—			—
Net Income (Loss)	$	144,381	$	(1,557	)	$	75,997	$	3,664	$	80,780	$	(37,642	)	$	265,623
Noncontrolling interests in income     (loss) of consolidated subsidiaries	$	—	$	(326	)	$	—	$	—	$	—	$	—		$	(326	)
Net income (loss) attributable to     common stockholders	$	144,381	$	(1,231	)	$	75,997	$	3,664	$	80,780	$	(37,642	)	$	265,949
	Servicing Related Assets					Residential Securities and Loans
	Excess MSRs		Servicer Advances			Real Estate Securities		Real Estate Loans		Consumer Loans		Corporate			Total
December 31, 2013
Investments	$	676,917	$	2,665,551		$	1,973,189	$	33,539	$	215,062	$	—		$	5,564,258
Cash and restricted cash	—		85,243			51,627		22,840		—		145,622			305,332
Derivative assets	—		—			1,452		34,474		—		—			35,926
Other assets	2		7,062			44,848		—		—		1,230			53,142
Total assets	$	676,919	$	2,757,856		$	2,071,116	$	90,853	$	215,062	$	146,852		$	5,958,658
Debt	$	—	$	2,390,778		$	1,620,711	$	22,840	$	—	$	75,000		$	4,109,329
Other liabilities	80		4,271			215,159		32,553		33		84,158			336,254
Total liabilities	80		2,395,049			1,835,870		55,393		33		159,158			4,445,583
Total equity	676,839		362,807			235,246		35,460		215,029		(12,306		)	1,513,075
Noncontrolling interests in equity of     consolidated subsidiaries	—		247,225			—		—		—		—			247,225
Total New Residential     stockholders’ equity	$	676,839	$	115,582		$	235,246	$	35,460	$	215,029	$	(12,306	)	$	1,265,850
Investments in equity method      investees	$	352,766	$	—		$	—	$	—	$	215,062	$	—		$	567,828

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans		Corporate			Total
Year Ended December 31, 2012
Interest income	$	27,496	$	—	$	6,263	$	—	$	—	$	—		$	33,759
Interest expense	—		—		704		—		—		—			704
Net interest income	27,496		—		5,559		—		—		—			33,055
Impairment	—		—		—		—		—		—			—
Other income	17,423		—		—		—		—		—			17,423
Operating expenses	5,449		—		—		—		—		3,782			9,231
Income (Loss) Before Income Taxes	39,470		—		5,559		—		—		(3,782		)	41,247
Income tax expenses	—		—		—		—		—		—			—
Net Income (Loss)	$	39,470	$	—	$	5,559	$	—	$	—	$	(3,782	)	$	41,247
Noncontrolling interests in income of     consolidated subsidiaries	$	—	$	—	$	—	$	—	$	—	$	—		$	—
Net income (loss) attributable to     stockholders	$	39,470	$	—	$	5,559	$	—	$	—	$	(3,782	)	$	41,247