DEBT OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Schedule of Debt Obligations

The following table presents certain information regarding New Residential’s debt obligations:

December 31, 2014(A)																	December 31, 2013
										Collateral
Debt Obligations/Collateral	Month Issued	Outstanding Face Amount		Carrying Value		Final Stated Maturity	Weighted Average Funding Cost		Weighted Average Life (Years)	Outstanding Face		Amortized Cost Basis		Carrying Value		Weighted Average Life (Years)	Carrying Value
Repurchase Agreements(B)
Agency      RMBS (C)	Various	$	1,707,602	$	1,707,602	Jan-15 to Feb-15	0.35	%	0.1	$	1,646,361	$	1,724,329	$	1,740,163	5.0	$	1,332,954
Non-Agency      RMBS (D)	Various	539,049		539,049		Jan-15 to Mar-15	1.52	%	0.1	1,798,586		690,507		702,572		6.3	287,757
Residential      Mortgage      Loans(E)	Various	867,334		867,334		Jan-15 to Aug-16	2.56	%	1.2	1,388,615		1,145,122		1,145,122		4.0	—
Real Estate     Owned(F)	Various	35,105		35,105		Jan-15 to Aug-16	2.84	%	0.7	N/A		N/A		54,124		N/A	—
Total      Repurchase      Agreements		3,149,090		3,149,090			1.19	%	0.4								1,620,711
Notes Payable
Secured   Corporate   Loan	N/A	—		—		—	—	%	—	—		—		—		—	75,000
Servicer      Advances(G)	Various	2,890,230		2,890,230		Mar-15 to Mar-17	3.04	%	1.5	3,102,492		3,186,622		3,270,839		4.0	2,390,778
Residential      Mortgage      Loans(H)	Dec-13	22,194		22,194		Oct-15	3.33	%	0.8	45,182		26,483		24,965		3.9	22,840
Real Estate     Owned(H)	Dec-13	785		785		Oct-15	3.33	%	0.8	N/A		N/A		883		N/A	—
Total Notes     Payable		2,913,209		2,913,209			3.04	%	1.5								2,488,618
Total/ Weighted     Average		$	6,062,299	$	6,062,299		2.08	%	0.9								$	4,109,329

(A) Excludes debt related to linked transactions (Note 10).

(B) These repurchase agreements had approximately $2.4 million of associated accrued interest payable as of December 31, 2014.

(C) The counterparties of these repurchase agreements are Bank of America N.A. ($407.3 million), Daiwa ($347.8 million), Jefferies ($341.0 million), Mizuho ($293.6 million), Barclays ($240.8 million), and Morgan Stanley ($77.2 million) and were subject to customary margin call provisions. All of the Agency RMBS repurchase agreements have a fixed rate.

(D) The counterparties of these repurchase agreements are Credit Suisse ($134.5 million), UBS ($165.6 million), Bank of America N.A. ($105.1 million), Goldman Sachs ($72.1 million), Royal Bank of Canada ($55.7 million), and Barclays ($6.0 million) and were subject to customary margin call provisions. All of the Non-Agency RMBS repurchase agreements have LIBOR-based floating interest rates.

(E) The counterparties on these repurchase agreements are Credit Suisse ($345.7 million maturing in November 2015), Nomura ($299.5 million maturing in May 2016), Bank of America N.A. ($198.5 million maturing in August 2016), Citibank ($19.4 million maturing in May 2015) and Royal Bank of Scotland ($4.2 million). All of these repurchase agreements have LIBOR-based floating interest rates.

(F) The counterparties of these repurchase agreements are Royal Bank of Scotland ($17.1 million), Nomura ($13.7 million), Bank of America, N.A. ($2.6 million) and Credit Suisse ($1.7 million). All of these repurchase agreements have LIBOR-based floating interest rates.

(G) $1.1 billion face amount of the notes have a fixed rate while the remaining notes bear interest equal to the sum of (i) a floating rate index rate equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.5% to 2.1%.

(H) The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 2.875%.

Activities related to the carrying value of New Residential's debt obligations were as follows:

	Servicer Advances			Real Estate Securities			Real Estate Loans			Other			Total
Balance at December 31, 2012	$	—		$	150,922		$	—		$	—		$	150,922
Repurchase Agreements
Borrowings	—			3,745,456			—			—			3,745,456
Repayments	—			(2,275,667		)	—			—			(2,275,667		)
Notes Payable
Borrowings	2,449,927			—			22,840			75,000			2,547,767
Repayments	(59,149		)	—			—			—			(59,149		)
Balance at December 31, 2013(A)	$	2,390,778		$	1,620,711		$	22,840		$	75,000		$	4,109,329
Repurchase Agreements
Borrowings	—			4,122,434			2,027,301			150,000			6,299,735
Repayments	—			(3,496,494		)	(1,124,862		)	(150,000		)	(4,771,356		)
Notes Payable
Borrowings	5,840,232			—			1,242			—			5,841,474
Repayments	(5,340,780		)	—			(1,103		)	(75,000		)	(5,416,883		)
Balance at December 31, 2014(A)	$	2,890,230		$	2,246,651		$	925,418		$	—		$	6,062,299

(A)    Excludes debt related to linked transactions (Note 10).

Schedule of Contractual Maturities of Debt Obligations

New Residential’s debt obligations as of December 31, 2014 had contractual maturities as follows:

Year	Nonrecourse		Recourse(A)		Total
2015	$	631,604	$	2,411,121	$	3,042,725
2016	2,309,062		201,112		2,510,174
2017	509,400		—		509,400
	$	3,450,066	$	2,612,233	$	6,062,299

(A) Excludes recourse debt related to linked transactions (Note 10).

Schedule of Borrowing Capacity

The following table represents New Residential’s borrowing capacity as of December 31, 2014:

Debt Obligations/ Collateral	Collateral Type	Borrowing Capacity		Balance Outstanding		Available Financing
Repurchase Agreements
Residential Mortgage Loans(A)	Real Estate Loans	$	2,074,991	$	903,747	$	1,171,244
Notes Payable
Servicer Advances(B)	Servicer Advances	4,300,900		2,890,230		1,410,670
		$	6,375,891	$	3,793,977	$	2,581,914

(A) Includes $25.0 million of borrowing capacity and $1.3 million of balance outstanding related to one of New Residential's linked transactions (Note 10).

(B) New Residential’s unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions as set forth in the applicable agreements, including any applicable advance rate. New Residential pays a 0.2% fee on the unused borrowing capacity.