SEGMENT REPORTING

3 Months Ended

Mar. 31, 2015

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 management fees and incentive compensation owed to the Manager by New Residential following the spin-off, (iii) corporate cash and related interest income, and (iv) 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
Three Months Ended March 31, 2015
Interest income	$	15,037	$	42,349		$	14,263		$	12,724		$	—	$	—		$	84,373
Interest expense	—		23,637			3,480			6,093			—		769			33,979
Net interest income (expense)	15,037		18,712			10,783			6,631			—		(769		)	50,394
Impairment	—		—			1,071			977			—		—			2,048
Other income	3,890		(10,727		)	(5,090		)	13,775			10,447		—			12,295
Operating expenses	88		575			(102		)	6,104			57		15,548			22,270
Income (Loss) Before Income Taxes	18,839		7,410			4,724			13,325			10,390		(16,317		)	38,371
Income tax expense (benefit)	—		(3,240		)	—			(187		)	—		—			(3,427		)
Net Income (Loss)	$	18,839	$	10,650		$	4,724		$	13,512		$	10,390	$	(16,317	)	$	41,798
Noncontrolling interests in income    (loss) of consolidated subsidiaries	$	—	$	5,823		$	—		$	—		$	—	$	—		$	5,823
Net income (loss) attributable to    common stockholders	$	18,839	$	4,827		$	4,724		$	13,512		$	10,390	$	(16,317	)	$	35,975

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans		Corporate		Total
March 31, 2015
Investments	$	751,773	$	3,245,457	$	2,324,915	$	581,046	$	—	$	—	$	6,903,191
Cash and cash equivalents	267		69,180		5,288		5,895		—		378,704		459,334
Restricted cash	37		28,288		—		—		—		—		28,325
Derivative assets	—		71		—		—		—		—		71
Other assets	34		6,622		51,610		15,925		543		1,967		76,701
Total assets	$	752,111	$	3,349,618	$	2,381,813	$	602,866	$	543	$	380,671	$	7,467,622
Debt	$	—	$	2,875,412	$	1,928,891	$	434,504	$	—	$	100,000	$	5,338,807
Other liabilities	2,921		19,642		219,603		5,680		58		66,497		314,401
Total liabilities	2,921		2,895,054		2,148,494		440,184		58		166,497		5,653,208
Total equity	749,190		454,564		233,319		162,682		485		214,174		1,814,414
Noncontrolling interests in equity     of consolidated subsidiaries	—		246,899		—		—		—		—		246,899
Total New Residential     stockholders’ equity	$	749,190	$	207,665	$	233,319	$	162,682	$	485	$	214,174	$	1,567,515
Investments in equity method     investees	$	225,111	$	—	$	—	$	—	$	—	$	—	$	225,111

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
Three Months Ended March 31, 2014
Interest income	$	13,816	$	45,716	$	11,238	$	720	$	—		$	—		$	71,490
Interest expense	1,291		31,956		4,069		198		1,483			—			38,997
Net interest income (expense)	12,525		13,760		7,169		522		(1,483		)	—			32,493
Impairment	—		—		328		164		—			—			492
Other income	12,976		—		5,042		671		16,360			1			35,050
Operating expenses	65		250		60		90		23			9,411			9,899
Income (Loss) Before Income Taxes	25,436		13,510		11,823		939		14,854			(9,410		)	57,152
Income tax expense (benefit)	—		287		—		—		—			—			287
Net Income (Loss)	$	25,436	$	13,223	$	11,823	$	939	$	14,854		$	(9,410	)	$	56,865
Noncontrolling interests in income     (loss) of consolidated subsidiaries	$	—	$	8,093	$	—	$	—	$	—		$	—		$	8,093
Net income (loss) attributable to     common stockholders	$	25,436	$	5,130	$	11,823	$	939	$	14,854		$	(9,410	)	$	48,772