INVESTMENTS IN SERVICER ADVANCES - Summary of Investments in Servicer Advances (Details) - Servicer Advance Joint Venture [Member] - USD ($) $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Investments in and Advances to Affiliates [Line Items]
Amortized Cost Basis	[1]	$ 6,503,825		$ 6,503,825		$ 7,400,068
Carrying Value	[1],[2]	$ 6,513,274		$ 6,513,274		$ 7,426,794
Weighted Average Discount Rate	[1]	5.40%		5.40%		5.60%
Weighted Average Yield	[1]	5.20%		5.20%		5.50%
Weighted Average Life (Years)	[1],[3]			4 years 6 months 15 days		4 years 4 months 27 days
Changes in Fair Value Recorded in Other Income		$ 13,946	$ 24,562	$ (17,278)	$ 16,893
Asset-backed securities, face amount, collateralized by servicer advances		406,000		406,000		$ 431,000
Asset-backed securities, carrying value, collateralized by servicer advances		$ 406,000		$ 406,000		$ 430,300

[1] Excludes New Residential asset-backed securities collateralized by Servicer Advances, which have aggregate face amounts of $406.0 million and $431.0 million and aggregate carrying values of $406.0 million and $430.3 million as of June 30, 2016 and December 31, 2015, respectively. See Note 7 for details related to these securities

[2] Carrying value represents the fair value of the investments in Servicer Advances, including the basic fee component of the related MSRs.

[3] Weighted Average Life represents the weighted average expected timing of the receipt of expected net cash flows for this investment.