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FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of Inputs Used in Valuing Residential Mortgage Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Valuation and Loss Provision/ (Reversal) In Current Year $ 16,825 $ 4,772 $ 23,570 $ 5,749
Weighted Average Life (Years)     1 year 1 month 1 day  
Reverse Mortgage Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Interest in reverse mortgage loans     70.00%  
Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Weighted Average Life (Years)     0 years  
Residential Mortgage [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Valuation and Loss Provision/ (Reversal) In Current Year     $ 77  
Discount Rate     5.80%  
Weighted Average Life (Years) [1]     2 years 10 months 4 days  
Loss Severity [2]     35.60%  
Residential Mortgage [Member] | Reverse Mortgage Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Valuation and Loss Provision/ (Reversal) In Current Year [3]     $ 73  
Discount Rate [3]     10.00%  
Weighted Average Life (Years) [1],[3]     4 years 5 months 30 days  
Loss Severity [2],[3]     12.70%  
Residential Mortgage [Member] | Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Valuation and Loss Provision/ (Reversal) In Current Year     $ 4  
Discount Rate     7.90%  
Weighted Average Life (Years) [1]     5 years 3 months 15 days  
Prepayment Rate     5.70%  
CDR [4]     2.50%  
Loss Severity [2]     58.30%  
Residential Mortgage [Member] | Non-Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Discount Rate     5.60%  
Weighted Average Life (Years) [1]     2 years 8 months 14 days  
Prepayment Rate     2.20%  
CDR [4]     3.00%  
Loss Severity [2]     35.40%  
Residential Mortgage [Member] | Carrying Value [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Carrying Value 551,438   $ 551,438  
Residential Mortgage [Member] | Carrying Value [Member] | Reverse Mortgage Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Carrying Value [3] 14,458   14,458  
Residential Mortgage [Member] | Carrying Value [Member] | Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Carrying Value 19,451   19,451  
Residential Mortgage [Member] | Carrying Value [Member] | Non-Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Carrying Value 517,529   517,529  
Residential Mortgage [Member] | Fair Value [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value 568,339   568,339  
Residential Mortgage [Member] | Fair Value [Member] | Reverse Mortgage Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value [3] 14,458   14,458  
Residential Mortgage [Member] | Fair Value [Member] | Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value 19,876   19,876  
Residential Mortgage [Member] | Fair Value [Member] | Non-Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value 534,005   534,005  
Consumer Loan [Member] | Consumer Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Valuation and Loss Provision/ (Reversal) In Current Year     $ 532  
Discount Rate     9.50%  
Weighted Average Life (Years) [1]     4 years 2 months 13 days  
Prepayment Rate     14.80%  
CDR [4]     5.50%  
Loss Severity [2]     88.80%  
Consumer Loan [Member] | Carrying Value [Member] | Consumer Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Carrying Value 1,830,436   $ 1,830,436  
Consumer Loan [Member] | Fair Value [Member] | Consumer Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value 1,865,979   $ 1,865,979  
Fair Value, Measurements, Nonrecurring [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Discount Rate     4.80%  
Weighted Average Life (Years) [5]     3 years 1 month 6 days  
Prepayment Rate     7.40%  
Loss Severity [6]     14.60%  
Fair Value, Measurements, Nonrecurring [Member] | Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Discount Rate     2.70%  
Weighted Average Life (Years) [5]     2 years 11 months 23 days  
Prepayment Rate     20.00%  
CDR [7]     0.20%  
Loss Severity [6]     4.10%  
Fair Value, Measurements, Nonrecurring [Member] | Non-Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Discount Rate     5.50%  
Weighted Average Life (Years) [5]     3 years 1 month 20 days  
Prepayment Rate     3.20%  
CDR [7]     2.90%  
Loss Severity [6]     18.10%  
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value 272,564   $ 272,564  
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member] | Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value 68,105   68,105  
Fair Value, Measurements, Nonrecurring [Member] | Fair Value [Member] | Non-Performing Loans [Member]        
Fair Value Inputs, Assets, Quantitative Information [Line Items]        
Fair Value $ 204,459   $ 204,459  
[1] The weighted average life is based on the expected timing of the receipt of cash flows.
[2] Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance.
[3] Carrying value and fair value represent a 70% participation interest New Residential holds in the portfolio of reverse mortgage loans.
[4] Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.
[5] The weighted average life is based on the expected timing of the receipt of cash flows.
[6] Loss severity is the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding loan balance.
[7] Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.