FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Securities Valuation Methodology and Results (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Outstanding Face Amount	$ 3,542,511
Amortized Cost Basis	2,434,844
Total Fair Value	2,463,163
Multiple Quotes [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	2,449,509	[1]
Single Quote [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	13,654	[2]
Agency RMBS [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Outstanding Face Amount	1,646,361	[3],[4]	1,314,130	[3],[4]
Amortized Cost Basis	1,724,329	[3],[4]	1,403,215	[3],[4]
Non-Agency RMBS [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Outstanding Face Amount	1,896,150	[5],[6]	872,866	[5]
Amortized Cost Basis	710,515	[5],[6]	566,760	[5]
Level 2 [Member] | Agency RMBS [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	1,740,163
Level 2 [Member] | Agency RMBS [Member] | Multiple Quotes [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	1,740,163	[1]
Level 2 [Member] | Agency RMBS [Member] | Single Quote [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	0	[2]
Level 3 [Member] | Non-Agency RMBS [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	723,000	[6]
Level 3 [Member] | Non-Agency RMBS [Member] | Multiple Quotes [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	709,346	[1],[6]
Level 3 [Member] | Non-Agency RMBS [Member] | Single Quote [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total Fair Value	$ 13,654	[2],[6]

[1] Management generally obtained pricing service quotations or broker quotations from two sources, one of which was generally the seller (the party that sold New Residential the security) for Non-Agency RMBS. Management selected one of the quotes received as being most representative of the fair value and did not use an average of the quotes. Even if New Residential receives two or more quotes on a particular security that come from non-selling brokers or pricing services, it does not use an average because management believes using an actual quote more closely represents a transactable price for the security than an average level. Furthermore, in some cases there is a wide disparity between the quotes New Residential receives. Management believes using an average of the quotes in these cases would not represent the fair value of the asset. Based on New Residential’s own fair value analysis, management selects one of the quotes which is believed to more accurately reflect fair value. New Residential never adjusts quotes received. These quotations are generally received via email and contain disclaimers which state that they are “indicative” and not “actionable” — meaning that the party giving the quotation is not bound to actually purchase the security at the quoted price.

[2] Management was unable to obtain quotations from more than one source on these securities. The one source was the seller (the party that sold New Residential the security).

[3] The total outstanding face amount was $1.0 billion and $0.0 billion for fixed rate securities and $0.6 billion and $1.3 billion for floating rate securities as of December 31, 2014 and 2013, respectively.

[4] Includes securities issued or guaranteed by U.S. Government agencies such as the Federal National Mortgage Association (“Fannie Mae”) or the Federal Home Loan Mortgage Corporation (“Freddie Mac”).

[5] The total outstanding face amount was $1.0 billion (including $959.1 million of interest-only notional amount) and $6.6 million for fixed rate securities and $882.4 million (including $130.6 million of residual and interest-only notional amount) and $866.2 million (including $42.9 million of residual and interest-only notional amount) for floating rate securities as of December 31, 2014 and 2013, respectively.

[6] Includes New Residential's investments in interest-only notes for which the fair value option for financial instruments was elected.