XML 109 R98.htm IDEA: XBRL DOCUMENT v3.7.0.1
DEBT OBLIGATIONS - Schedule of Debt Obligations (Details) - USD ($)
3 Months Ended
Mar. 31, 2017
Dec. 31, 2016
Debt Instrument [Line Items]    
Outstanding Face Amount $ 13,858,564,000  
Carrying Value [1] $ 13,835,214,000 $ 13,181,236,000
Weighted Average Funding Cost 2.98%  
Weighted Average Life (Years) 1 year 6 months 23 days  
Interest payable $ 22,821,000 23,108,000
Servicer Advances [Member]    
Debt Instrument [Line Items]    
Carrying Value [2] 4,900,030,000 5,549,872,000
Consumer Loans [Member]    
Debt Instrument [Line Items]    
Carrying Value 1,551,863,000 1,700,211,000
Repurchase Agreements [Member] | Agency RMBS [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [3],[4] 1,928,567,000  
Carrying Value [1],[3],[4] $ 1,928,567,000 1,764,760,000
Weighted Average Funding Cost [3],[4] 0.92%  
Weighted Average Life (Years) [3],[4] 1 month 18 days  
Repurchase Agreements [Member] | Agency RMBS [Member] | Trade And Other Receivables [Member]    
Debt Instrument [Line Items]    
Collateral amount $ 1,900,000,000  
Repurchase Agreements [Member] | Agency RMBS [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [3],[4] 4 months 2 days  
Outstanding Face of Collateral [3],[4] $ 1,944,003,000  
Amortized Cost Basis of Collateral [3],[4] 2,001,088,000  
Carrying Value of Collateral [3],[4] 1,991,354,000  
Repurchase Agreements [Member] | Non-Agency RMBS [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [4],[5] 3,301,281,000  
Carrying Value [1],[4],[5] $ 3,301,281,000 2,654,242,000
Weighted Average Funding Cost [4],[5] 2.52%  
Weighted Average Life (Years) [4],[5] 29 days  
Repurchase Agreements [Member] | Non-Agency RMBS [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [4],[5] 7 years 11 months 15 days  
Outstanding Face of Collateral [4],[5] $ 8,133,518,000  
Amortized Cost Basis of Collateral [4],[5] 4,104,083,000  
Carrying Value of Collateral [4],[5] 4,262,611,000  
Repurchase Agreements [Member] | Residential Mortgage [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [4],[6] 961,633,000  
Carrying Value [1],[4],[6] $ 958,925,000 686,412,000
Weighted Average Funding Cost [4],[6] 3.34%  
Weighted Average Life (Years) [4],[6] 10 months 20 days  
Repurchase Agreements [Member] | Residential Mortgage [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [4],[6] 3 years 8 months 28 days  
Outstanding Face of Collateral [4],[6] $ 1,385,903,000  
Amortized Cost Basis of Collateral [4],[6] 1,244,350,000  
Carrying Value of Collateral [4],[6] 1,230,307,000  
Repurchase Agreements [Member] | Real Estate Owned [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [4],[7],[8] 89,114,000  
Carrying Value [1],[4],[7],[8] $ 88,863,000 85,217,000
Weighted Average Funding Cost [4],[7],[8] 3.51%  
Weighted Average Life (Years) [4],[7],[8] 5 months 2 days  
Repurchase Agreements [Member] | Real Estate Owned [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Carrying Value of Collateral [4],[7],[8] $ 123,646,000  
Repurchase Agreements [Member] | Total Repurchase Agreements [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [4] 6,280,595,000  
Carrying Value [1],[4] $ 6,277,636,000 5,190,631,000
Weighted Average Funding Cost [4] 2.17%  
Weighted Average Life (Years) [4] 2 months 21 days  
Interest payable $ 10,700,000  
Notes Payable [Member] | Residential Mortgage [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [9] 8,813,000  
Carrying Value [1],[9] $ 8,813,000 8,271,000
Weighted Average Funding Cost [9] 3.63%  
Weighted Average Life (Years) [9] 6 months 18 days  
Notes Payable [Member] | Residential Mortgage [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [9] 4 years 8 months 12 days  
Outstanding Face of Collateral [9] $ 12,077,000  
Amortized Cost Basis of Collateral [9] 6,740,000  
Carrying Value of Collateral [9] 6,740,000  
Notes Payable [Member] | Real Estate Owned [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [9] 2,564,000  
Carrying Value [1],[9] $ 2,564,000 3,106,000
Weighted Average Funding Cost [9] 3.63%  
Weighted Average Life (Years) [9] 6 months 18 days  
Notes Payable [Member] | Real Estate Owned [Member] | London Interbank Offered Rate (LIBOR) [Member]    
Debt Instrument [Line Items]    
Variable interest rate spread 2.875%  
Notes Payable [Member] | Real Estate Owned [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Carrying Value of Collateral [9] $ 2,517,000  
Notes Payable [Member] | Secured Corporate Note [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [10] 809,363,000  
Carrying Value [1],[10] $ 804,835,000 729,145,000
Weighted Average Funding Cost [10] 5.41%  
Weighted Average Life (Years) [10] 2 years 4 days  
Notes Payable [Member] | Secured Corporate Note [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [10] 6 years 2 months 6 days  
Outstanding Face of Collateral [10] $ 288,539,501,000  
Amortized Cost Basis of Collateral [10] 1,237,711,000  
Carrying Value of Collateral [10] 1,405,960,000  
Notes Payable [Member] | Full MSRs [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [11] 290,000,000  
Carrying Value [1],[11] $ 289,473,000 0
Weighted Average Funding Cost [11] 5.42%  
Weighted Average Life (Years) [11] 10 months 19 days  
Notes Payable [Member] | Full MSRs [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [11] 6 years 10 months 17 days  
Outstanding Face of Collateral [11] $ 71,607,199,000  
Amortized Cost Basis of Collateral [11] 510,479,000  
Carrying Value of Collateral [11] 591,238,000  
Notes Payable [Member] | Servicer Advances [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [12] 4,911,052,000  
Carrying Value [1],[12] $ 4,900,030,000 5,549,872,000
Weighted Average Funding Cost [12] 3.31%  
Weighted Average Life (Years) [12] 2 years 6 months 23 days  
Face amount of debt at fixed rate $ 4,500,000,000  
Notes Payable [Member] | Servicer Advances [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]    
Debt Instrument [Line Items]    
Variable interest rate spread 1.85366%  
Notes Payable [Member] | Servicer Advances [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]    
Debt Instrument [Line Items]    
Variable interest rate spread 2.41568%  
Notes Payable [Member] | Servicer Advances [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [12] 4 years 9 months 22 days  
Outstanding Face of Collateral [12] $ 5,135,429,000  
Amortized Cost Basis of Collateral [12] 5,076,788,000  
Carrying Value of Collateral [12] 5,098,305,000  
Notes Payable [Member] | Consumer Loans [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount [13],[14] 1,556,177,000  
Carrying Value [1],[13],[14] $ 1,551,863,000 1,700,211,000
Weighted Average Funding Cost [13],[14] 3.52%  
Weighted Average Life (Years) [13],[14] 3 years 8 months 25 days  
Notes Payable [Member] | Consumer Loans [Member] | Collateral [Member]    
Debt Instrument [Line Items]    
Weighted Average Life (Years) [13],[14] 3 years 9 months 2 days  
Outstanding Face of Collateral [13],[14] $ 1,689,600,000  
Amortized Cost Basis of Collateral [13],[14] 1,683,279,000  
Carrying Value of Collateral [13],[14] 1,679,645,000  
Notes Payable [Member] | Total Notes Payable [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount 7,577,969,000  
Carrying Value [1] $ 7,557,578,000 $ 7,990,605,000
Weighted Average Funding Cost 3.66%  
Weighted Average Life (Years) 2 years 8 months 4 days  
Secured Debt [Member] | 4.75% Secured Corporate Note [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount $ 220,000,000  
Secured Debt [Member] | 4.75% Secured Corporate Note [Member] | London Interbank Offered Rate (LIBOR) [Member]    
Debt Instrument [Line Items]    
Variable interest rate spread 4.75%  
Secured Debt [Member] | 4.25% Secured Corporate Note [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount $ 285,000,000  
Secured Debt [Member] | 4.25% Secured Corporate Note [Member] | London Interbank Offered Rate (LIBOR) [Member]    
Debt Instrument [Line Items]    
Variable interest rate spread 4.25%  
Secured Debt [Member] | 5.68% Secured Corporate Note [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount $ 304,400,000  
Interest rate, stated percentage 5.683%  
Secured Debt [Member] | 4.25% Agency MSR Secured Note [Member] | London Interbank Offered Rate (LIBOR) [Member]    
Debt Instrument [Line Items]    
Variable interest rate spread 4.25%  
Secured Debt [Member] | UPB Class A [Member]    
Debt Instrument [Line Items]    
UPB of Underlying Mortgages $ 1,200,000,000  
Interest rate, stated percentage 3.05%  
Secured Debt [Member] | UPB Class B [Member]    
Debt Instrument [Line Items]    
UPB of Underlying Mortgages $ 210,800,000  
Interest rate, stated percentage 4.10%  
Secured Debt [Member] | UPB Class C-1 [Member]    
Debt Instrument [Line Items]    
UPB of Underlying Mortgages $ 18,300,000  
Interest rate, stated percentage 5.63%  
Secured Debt [Member] | UPB Class C-2 [Member]    
Debt Instrument [Line Items]    
UPB of Underlying Mortgages $ 18,300,000  
Interest rate, stated percentage 5.63%  
Secured Debt [Member] | 3.25% Consumer Loans [Member]    
Debt Instrument [Line Items]    
Outstanding Face Amount $ 114,995,025.18000000  
Secured Debt [Member] | 3.25% Consumer Loans [Member] | London Interbank Offered Rate (LIBOR) [Member]    
Debt Instrument [Line Items]    
Variable interest rate spread 3.25%  
Retained Servicer Advance and Consumer Bonds [Member] | Repurchase Agreements [Member] | Non-Agency RMBS [Member]    
Debt Instrument [Line Items]    
Carrying Value $ 165,300,000  
[1] Net of deferred financing costs.
[2] New Residential net settles daily borrowings and repayments of the Notes and Bonds Payable on its Servicer Advances.
[3] All of the Agency RMBS repurchase agreements have a fixed rate. Collateral amounts include approximately $1.9 billion of related trade and other receivables.
[4] These repurchase agreements had approximately $10.7 million of associated accrued interest payable as of March 31, 2017.
[5] All of the Non-Agency RMBS repurchase agreements have LIBOR-based floating interest rates. This includes repurchase agreements of $165.3 million on retained servicer advance and consumer loan bonds.
[6] All of these repurchase agreements have LIBOR-based floating interest rates.
[7] All of these repurchase agreements have LIBOR-based floating interest rates.
[8] Includes financing collateralized by receivables including claims from FHA on Ginnie Mae EBO loans for which foreclosure has been completed and for which New Residential has made or intends to make a claim on the FHA guarantee.
[9] The note is payable to Nationstar and bears interest equal to one-month LIBOR plus 2.875%.
[10] Includes $220.0 million of corporate loans which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.75%, $285.0 million of corporate loans which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.25%, and a $304.4 million corporate loan which bears interest equal to 5.68%. The outstanding face amount of the collateral represents the UPB of the residential mortgage loans underlying the Excess MSRs that secure these notes, and the $304.4 million corporate loan is also collateralized by the rights to the related basic fee portion of the MSRs.
[11] This note is secured by Agency MSRs and bears interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.25%.
[12] $4.5 billion face amount of the notes have a fixed rate while the remaining notes bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.9% to 2.4%. Collateral includes Servicer Advances related to the mortgage servicing rights.
[13] Includes a $115.0 million face amount note collateralized by newly originated consumer loans which bears interest equal to one-month LIBOR plus 3.25%.
[14] Includes the SpringCastle debt, which is comprised of the following classes of asset-backed notes held by third parties: $1.2 billion UPB of Class A notes with a coupon of 3.05% and a stated maturity date in November 2023; $210.8 million UPB of Class B notes with a coupon of 4.10% and a stated maturity date in March 2024; $18.3 million UPB of Class C-1 notes with a coupon of 5.63% and a stated maturity date in March 2024; $18.3 million UPB of Class C-2 notes with a coupon of 5.63% and a stated maturity date in March 2024.