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INVESTMENTS IN EXCESS MORTGAGE SERVICING RIGHTS - Summary of Excess MSRs Made Through Equity Method Investees (Details) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Schedule of Investments in Mortgage Servicing Rights [Line Items]    
Mortgage servicing rights, at fair value $ 1,694,792 $ 659,483
Weighted Average Life (Years) 1 year 6 months 23 days  
Excess MSRs Investees [Member]    
Schedule of Investments in Mortgage Servicing Rights [Line Items]    
Unpaid Principal Balance $ 58,610,831  
New Residential Interest in Investees 50.00% 50.00%
Amortized Cost Basis $ 264,413  
Mortgage servicing rights, at fair value $ 353,746  
Weighted Average Life (Years) 6 years 5 months 19 days  
Original and Recaptured Pools [Member] | Agency [Member] | Excess MSRs Investees [Member]    
Schedule of Investments in Mortgage Servicing Rights [Line Items]    
Unpaid Principal Balance $ 58,610,831  
Investee Interest in Excess MSR 66.70%  
New Residential Interest in Investees 50.00%  
Amortized Cost Basis $ 236,888  
Mortgage servicing rights, at fair value $ 298,235  
Weighted Average Life (Years) 5 years 9 months 7 days  
Recapture Agreements [Member] | Agency [Member] | Excess MSRs Investees [Member]    
Schedule of Investments in Mortgage Servicing Rights [Line Items]    
Unpaid Principal Balance $ 0  
Investee Interest in Excess MSR 66.70%  
New Residential Interest in Investees 50.00%  
Amortized Cost Basis $ 27,525  
Mortgage servicing rights, at fair value $ 55,511  
Weighted Average Life (Years) 12 years 5 months 29 days