SEGMENT REPORTING

9 Months Ended

Sep. 30, 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 related to the Management Agreement, (iii) corporate cash and related interest income, and (iv) secured corporate loans and related interest expense during the periods 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 September 30, 2015
Interest income	$	38,477	$	105,135		$	28,984		$	8,888		$	—		$	857		$	182,341
Interest expense	—		64,291			5,150			4,651			530			2,936			77,558
Net interest income (expense)	38,477		40,844			23,834			4,237			(530		)	(2,079		)	104,783
Impairment	—		—			1,574			(3,341		)	—			—			(1,767		)
Other income	10,227		(12,554		)	(28,354		)	(1,530		)	14,386			—			(17,825		)
Operating expenses	168		10,341			766			2,845			66			18,716			32,902
Income (Loss) Before Income Taxes	48,536		17,949			(6,860		)	3,203			13,790			(20,795		)	55,823
Income tax expense (benefit)	—		(4,852		)	—			(1,405		)	325			—			(5,932		)
Net Income (Loss)	$	48,536	$	22,801		$	(6,860	)	$	4,608		$	13,465		$	(20,795	)	$	61,755
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	7,230		$	—		$	—		$	—		$	—		$	7,230
Net income (loss) attributable to common stockholders	$	48,536	$	15,571		$	(6,860	)	$	4,608		$	13,465		$	(20,795	)	$	54,525

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities			Real Estate Loans			Consumer Loans			Corporate			Total
Nine Months Ended September 30, 2015
Interest income	$	87,874	$	256,087	$	66,699		$	32,408		$	1		$	1,822		$	444,891
Interest expense	—		151,377		12,171			15,929			1,054			12,877			193,408
Net interest income (expense)	87,874		104,710		54,528			16,479			(1,053		)	(11,055		)	251,483
Impairment	—		—		3,294			2,408			—			—			5,702
Other income	18,415		835		(37,655		)	20,063			33,342			(2,880		)	32,120
Operating expenses	517		12,604		769			14,557			177			61,500			90,124
Income (Loss) Before Income Taxes	105,772		92,941		12,810			19,577			32,112			(75,435		)	187,777
Income tax expense (benefit)	—		7,565		—			(2,942		)	324			—			4,947
Net Income (Loss)	$	105,772	$	85,376	$	12,810		$	22,519		$	31,788		$	(75,435	)	$	182,830
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	22,332	$	—		$	—		$	—		$	(5,158	)	$	17,174
Net income (loss) attributable to common stockholders	$	105,772	$	63,044	$	12,810		$	22,519		$	31,788		$	(70,277	)	$	165,656

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
September 30, 2015
Investments	$	1,673,008	$	7,499,775	$	2,428,729	$	784,184	$	—		$	—		$	12,385,696
Cash and cash equivalents	237		151,833		6,169		9,090		12,344			168,639			348,312
Restricted cash	499		162,728		—		1,720		—			92			165,039
Derivative assets	—		1,318		—		—		—			—			1,318
Other assets	34		179,950		2,103,217		101,737		2,362			68,553			2,455,853
Total assets	$	1,673,778	$	7,995,604	$	4,538,115	$	896,731	$	14,706		$	237,284		$	15,356,218
Debt	$	—	$	7,038,079	$	3,034,649	$	719,568	$	40,264		$	186,520		$	11,019,080
Other liabilities	350		29,582		1,090,460		7,563		416			182,696			1,311,067
Total liabilities	350		7,067,661		4,125,109		727,131		40,680			369,216			12,330,147
Total equity	1,673,428		927,943		413,006		169,600		(25,974		)	(131,932		)	3,026,071
Noncontrolling interests in equity of consolidated subsidiaries	—		219,538		—		—		—			—			219,538
Total New Residential stockholders’ equity	$	1,673,428	$	708,405	$	413,006	$	169,600	$	(25,974	)	$	(131,932	)	$	2,806,533
Investments in equity method investees	$	213,318	$	—	$	—	$	—	$	—		$	—		$	213,318

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
Three Months Ended September 30, 2014
Interest income	$	12,914	$	50,967	$	11,179	$	22,526	$	—		$	1		$	97,587
Interest expense	3		25,157		1,932		5,065		1,149			1			33,307
Net interest income (expense)	12,911		25,810		9,247		17,461		(1,149		)	—			64,280
Impairment	—		—		—		1,134		—			—			1,134
Other income	60,722		22,948		955		14,950		22,490			(1		)	122,064
Operating expenses	103		4,796		169		3,163		632			16,448			25,311
Income (Loss) Before Income Taxes	73,530		43,962		10,033		28,114		20,709			(16,449		)	159,899
Income tax expense (benefit)	—		7,403		—		306		92			—			7,801
Net Income (Loss)	$	73,530	$	36,559	$	10,033	$	27,808	$	20,617		$	(16,449	)	$	152,098
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	25,726	$	—	$	—	$	—		$	—		$	25,726
Net income (loss) attributable to common stockholders	$	73,530	$	10,833	$	10,033	$	27,808	$	20,617		$	(16,449	)	$	126,372

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
Nine Months Ended September 30, 2014
Interest income	$	37,703	$	153,790	$	41,939	$	28,300	$	—		$	1		$	261,733
Interest expense	1,294		86,885		9,513		6,454		4,170			500			108,816
Net interest income (expense)	36,409		66,905		32,426		21,846		(4,170		)	(499		)	152,917
Impairment	—		—		943		1,591		—			—			2,534
Other income	91,943		105,657		59,410		17,808		60,185			—			335,003
Operating expenses	488		5,815		800		4,140		745			52,744			64,732
Income (Loss) Before Income Taxes	127,864		166,747		90,093		33,923		55,270			(53,243		)	420,654
Income tax expense (benefit)	—		29,085		—		306		92			—			29,483
Net Income (Loss)	$	127,864	$	137,662	$	90,093	$	33,617	$	55,178		$	(53,243	)	$	391,171
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	92,524	$	—	$	—	$	—		$	—		$	92,524
Net income (loss) attributable to common stockholders	$	127,864	$	45,138	$	90,093	$	33,617	$	55,178		$	(53,243	)	$	298,647