SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2017

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,
	2017			2016			2015
Accretion of servicer advance investment and receivable interest income	$	542,983		$	364,350		$	352,316
Accretion of excess mortgage servicing rights income	103,053			150,141			134,565
Accretion of net discount on securities and loans(A)	398,213			253,243			65,925
Amortization of deferred financing costs	(12,076		)	(18,326		)	(26,036		)
Amortization of discount on notes and bonds payable	(789		)	(1,476		)	(1,472		)
	$	1,031,384		$	747,932		$	525,298

(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,
	2017			2016			2015
Unrealized gain (loss) on derivative instruments	$	(2,190	)	$	5,774		$	(3,538	)
Unrealized gain (loss) on other ABS	2,883			(2,322		)	879
Gain (loss) on transfer of loans to REO	22,938			18,356			2,065
Gain (loss) on transfer of loans to other assets	488			2,938			(690		)
Gain on Excess MSR recapture agreements	2,384			2,802			2,999
Gain (loss) on Ocwen common stock	5,346			—			—
Other income (loss)	(27,741		)	935			3,674
	$	4,108		$	28,483		$	5,389

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,
	2017			2016			2015
Gain (loss) on sale of real estate securities, net	$	20,642		$	(27,460	)	$	13,096
Gain (loss) on sale of residential mortgage loans, net	39,731			12,142			35,175
Gain (loss) on settlement of derivatives	(39,214		)	(27,491		)	(46,982		)
Gain (loss) on liquidated residential mortgage loans	(10,201		)	(1,810		)	(2,170		)
Gain (loss) on sale of REO	(9,215		)	4,690			(10,742		)
Other gains (losses)	8,567			(8,871		)	(8,003		)
	$	10,310		$	(48,800	)	$	(19,626	)

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,
	2017		2016			2017		2016
Margin receivable, net	$	53,150	$	55,481	Interest payable	$	28,821	$	23,108
Other receivables	10,635		16,350		Accounts payable	73,017		31,299
Principal and interest receivable	48,373		52,738		Derivative liabilities (Note 10)	697		3,021
Receivable from government agency(A)	41,429		54,706		Current taxes payable	—		2,314
Call rights	327		337		Due to servicers	24,571		77,148
Derivative assets (Note 10)	2,423		6,762		MSRs purchase price holdback	101,290		60,436
Servicing fee receivables	60,520		7,405		Other liabilities	10,718		8,118
Ginnie Mae EBO servicer advances receivable, net(B)	8,916		14,829			$	239,114	$	205,444
Due from servicers	38,601		22,134
Ocwen common stock, at fair value	19,259		—
Prepaid expenses	7,308		9,487
Other assets	21,240		4,269
	$	312,181	$	244,498

(A) 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.

(B) Represents an HLSS (Note 1) loan to a counterparty collateralized by servicer advances on Ginnie Mae EBO loans.