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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2016
Accounting Policies [Abstract]  
Schedule of Accretion and Other Amortization
Accretion and Other Amortization — As reflected on the consolidated statements of cash flows, this item is comprised of the following:
 
Year Ended December 31,
 
2016
 
2015
 
2014
Accretion of servicer advance interest income
$
364,350

 
$
352,316

 
$
190,206

Accretion of excess mortgage servicing rights income
150,141

 
134,565

 
49,180

Accretion of net discount on securities and loans(A)
253,243

 
65,925

 
47,793

Amortization of deferred financing costs
(18,326
)
 
(26,036
)
 
(8,771
)
Amortization of discount on notes and bonds payable
(1,476
)
 
(1,472
)
 
—

 
$
747,932

 
$
525,298

 
$
278,408



(A)    Includes accretion of the accretable yield on PCD loans.
Schedule of Other Income (Loss), Net
Other Income (Loss), Net — This item is comprised of the following:
 
Year Ended December 31,
 
2016
 
2015
 
2014
Unrealized gain (loss) on derivative instruments
$
5,774

 
$
(3,538
)
 
$
(8,847
)
Unrealized gain (loss) on other ABS
(2,322
)
 
879

 
—

Gain (loss) on transfer of loans to REO
18,356

 
2,065

 
17,489

Gain (loss) on transfer of loans to other assets
2,938

 
(690
)
 
—

Fee earned on deal termination
—

 
—

 
5,000

Gain on Excess MSR recapture agreements
2,802

 
2,999

 
1,157

Other income (loss)
935

 
3,674

 
20

 
$
28,483

 
$
5,389

 
$
14,819
Schedule of Gain (Loss) on Settlement of Investments, Net
Gain (Loss) on Settlement of Investments, Net — This item is comprised of the following:
 
Year Ended December 31,
 
2016
 
2015
 
2014
Gain (loss) on sale of real estate securities, net
$
(27,460
)
 
$
13,096

 
$
65,701

Gain (loss) on sale of residential mortgage loans, net
12,142

 
35,175

 
2,644

Gain (loss) on settlement of derivatives
(27,491
)
 
(46,982
)
 
(40,400
)
Gain (loss) on liquidated residential mortgage loans
(1,810
)
 
(2,170
)
 
3,285

Gain (loss) on sale of REO
4,690

 
(10,742
)
 
(3,686
)
Other gains (losses)
(8,871
)
 
(8,003
)
 
3,753

 
$
(48,800
)
 
$
(19,626
)
 
$
31,297
Schedule of Other Assets and Other Liabilities
Other Assets and Other Liabilities — Other assets and liabilities are comprised of the following:
 
Other Assets
 
 
Accrued Expenses and Other Liabilities
 
December 31,
 
 
December 31,
 
2016
 
2015
 
 
2016
 
2015
Margin receivable, net
$
55,481

 
$
54,459

 
Interest payable
$
23,108

 
$
18,268

Other receivables(A)
16,350

 
5,829

 
Accounts payable
31,299

 
18,650

Principal paydown receivable
999

 
795

 
Derivative liabilities (Note 10)
3,021

 
13,443

Receivable from government agency(B)
54,706

 
68,833

 
Current taxes payable
2,314

 
1,573

Call rights
337

 
414

 
Due to servicers
13,032

 
—

Derivative assets (Note 10)
6,762

 
2,689

 
Deferred purchase price of MSRs
90,058

 
—

Interest receivable
51,739

 
36,963

 
Other liabilities
8,118

 
6,112

Ginnie Mae EBO servicer advance receivable, net(C)
14,829

 
49,725

 
 
$
170,950

 
$
58,046

Due from servicers
22,134

 
5,064

 
 
 
 
 
Servicer advances receivable, net(D)
47,088

 
—

 
 
 
 
 
Other assets
21,161

 
14,675

 
 
 
 
 
 
$
291,586

 
$
239,446

 
 

 

 
(A)
Primarily includes a receivable from Ocwen related to their servicer rating downgrade, servicing fee receivables and receivables related to residual securities owned as of December 31, 2016.
(B)
Represents claims receivable from the FHA on EBO and reverse mortgage loans for which foreclosure has been completed and for which New Residential has made or intends to make a claim on the FHA guarantee.
(C)
Represents an HLSS (Note 1) loan to a counterparty collateralized by Servicer Advances on Ginnie Mae EBO loans.
(D)
Represents Servicer Advances due to New Residential’s licensed servicer subsidiary, NRM (Note 5). These advances are recorded at cost, subject to impairment. Any related purchase discounts are accreted into interest income on a straight-line basis over the estimated weighted average life of the advances.