XML 72 R54.htm IDEA: XBRL DOCUMENT v3.8.0.1
SEGMENT REPORTING (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2016
Sep. 30, 2016
Jun. 30, 2016
Mar. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Segment Reporting Information [Line Items]                        
Interest income $ 357,467 $ 397,722 $ 471,952 $ 292,538 $ 326,834 $ 282,388 $ 277,477 $ 190,036 $ 1,519,679 $ 1,076,735 $ 645,072  
Interest expense 122,201 125,278 115,157 98,229 95,023 96,488 100,685 81,228 460,865 373,424 274,013  
Net interest income (expense) 235,266 272,444 356,795 194,309 231,811 185,900 176,792 108,808 1,058,814 703,311 371,059  
Impairment 11,975 28,209 25,886 20,022 38,297 20,040 19,644 9,999 86,092 87,980 24,384  
Servicing revenue, net 154,882 58,014 170,851 40,602 118,169 0 0 0 424,349 118,169 0  
Other income (loss) 66,488 87,145 57,847 (3,694) 23,437 26,701 (19,723) 31,922 207,786 62,337 42,029  
Operating expenses 97,716 117,060 139,360 68,441 72,339 40,575 36,280 25,016 422,577 174,210 117,823  
Income (Loss) Before Income Taxes 346,945 272,334 420,247 142,754 262,781 151,986 101,145 105,715 1,182,280 621,627 270,881  
Income tax expense (benefit) 46,575 32,613 82,844 5,596 20,716 20,900 7,518 (10,223) 167,628 38,911 (11,001)  
Net Income (Loss) 300,370 239,721 337,403 137,158 242,065 131,086 93,627 115,938 1,014,652 582,716 281,882  
Noncontrolling interests in income (loss) of consolidated subsidiaries 12,068 13,600 15,671 15,780 16,908 32,178 24,975 4,202 57,119 78,263 13,246  
Net income (loss) attributable to common stockholders 288,302 $ 226,121 $ 321,732 $ 121,378 225,157 $ 98,908 $ 68,652 $ 111,736 957,533 504,453 268,636  
Investments 19,748,888       15,780,680       19,748,888 15,780,680    
Cash and cash equivalents 295,798       290,602       295,798 290,602    
Restricted cash 150,252       163,095       150,252 163,095    
Other assets 2,018,624       2,165,152       2,018,624 2,165,152    
Total assets 22,213,562       18,399,529       22,213,562 18,399,529    
Debt 15,746,530       13,181,236       15,746,530 13,181,236 11,292,622  
Other liabilities 1,670,870       1,750,116       1,670,870 1,750,116    
Total liabilities 17,417,400       14,931,352       17,417,400 14,931,352    
Total equity 4,796,162       3,468,177       4,796,162 3,468,177 2,986,580 $ 1,849,925
Noncontrolling interests in equity of consolidated subsidiaries 105,957       208,077       105,957 208,077    
Total New Residential stockholders’ equity 4,690,205       3,260,100       4,690,205 3,260,100    
Investments in equity method investees 223,177       194,788       223,177 194,788    
Excess MSRs                        
Segment Reporting Information [Line Items]                        
Interest income                 103,053 150,141 134,565  
Interest expense                 36,086 19,160 11,625  
Net interest income (expense)                 66,967 130,981 122,940  
Impairment                 0 0 0  
Servicing revenue, net                 0 0    
Other income (loss)                 18,919 11,398 72,802  
Operating expenses                 606 1,259 1,101  
Income (Loss) Before Income Taxes                 85,280 141,120 194,641  
Income tax expense (benefit)                 0 0 0  
Net Income (Loss)                 85,280 141,120 194,641  
Noncontrolling interests in income (loss) of consolidated subsidiaries                 0 0 0  
Net income (loss) attributable to common stockholders                 85,280 141,120 194,641  
Investments 1,345,478       1,594,243       1,345,478 1,594,243    
Cash and cash equivalents 408       2,225       408 2,225    
Restricted cash 13,153       24,538       13,153 24,538    
Other assets 2,891       2,404       2,891 2,404    
Total assets 1,361,930       1,623,410       1,361,930 1,623,410    
Debt 483,978       729,145       483,978 729,145    
Other liabilities 1,033       2,189       1,033 2,189    
Total liabilities 485,011       731,334       485,011 731,334    
Total equity 876,919       892,076       876,919 892,076    
Noncontrolling interests in equity of consolidated subsidiaries 0       0       0 0    
Total New Residential stockholders’ equity 876,919       892,076       876,919 892,076    
Investments in equity method investees 171,765       194,788       171,765 194,788    
MSRs                        
Segment Reporting Information [Line Items]                        
Interest income                 78,715 0    
Interest expense                 43,327 0    
Net interest income (expense)                 35,388 0    
Impairment                 0 0    
Servicing revenue, net                 424,349 118,169    
Other income (loss)                 66,608 0    
Operating expenses                 180,604 10,693    
Income (Loss) Before Income Taxes                 345,741 107,476    
Income tax expense (benefit)                 22,393 15,683    
Net Income (Loss)                 323,348 91,793    
Noncontrolling interests in income (loss) of consolidated subsidiaries                 0 0    
Net income (loss) attributable to common stockholders                 323,348 91,793    
Investments 2,334,232       659,483       2,334,232 659,483    
Cash and cash equivalents 104,545       95,840       104,545 95,840    
Restricted cash 30,454       0       30,454 0    
Other assets 726,530       75,102       726,530 75,102    
Total assets 3,195,761       830,425       3,195,761 830,425    
Debt 1,761,011       0       1,761,011 0    
Other liabilities 194,465       132,417       194,465 132,417    
Total liabilities 1,955,476       132,417       1,955,476 132,417    
Total equity 1,240,285       698,008       1,240,285 698,008    
Noncontrolling interests in equity of consolidated subsidiaries 0       0       0 0    
Total New Residential stockholders’ equity 1,240,285       698,008       1,240,285 698,008    
Investments in equity method investees 0       0       0 0    
Servicer Advances                        
Segment Reporting Information [Line Items]                        
Interest income                 531,645 369,809 354,616  
Interest expense                 154,174 224,879 216,837  
Net interest income (expense)                 377,471 144,930 137,779  
Impairment                 0 0 0  
Servicing revenue, net                 0 0    
Other income (loss)                 89,034 (4,624) (53,426)  
Operating expenses                 5,120 3,724 14,316  
Income (Loss) Before Income Taxes                 461,385 136,582 70,037  
Income tax expense (benefit)                 143,793 21,036 (8,127)  
Net Income (Loss)                 317,592 115,546 78,164  
Noncontrolling interests in income (loss) of consolidated subsidiaries                 11,227 40,136 18,407  
Net income (loss) attributable to common stockholders                 306,365 75,410 59,757  
Investments 4,027,379       5,806,740       4,027,379 5,806,740    
Cash and cash equivalents 78,353       94,368       78,353 94,368    
Restricted cash 60,516       82,122       60,516 82,122    
Other assets 18,576       180,705       18,576 180,705    
Total assets 4,184,824       6,163,935       4,184,824 6,163,935    
Debt 3,526,380       5,698,160       3,526,380 5,698,160    
Other liabilities (5,658)       24,123       (5,658) 24,123    
Total liabilities 3,520,722       5,722,283       3,520,722 5,722,283    
Total equity 664,102       441,652       664,102 441,652    
Noncontrolling interests in equity of consolidated subsidiaries 71,491       173,057       71,491 173,057    
Total New Residential stockholders’ equity 592,611       268,595       592,611 268,595    
Investments in equity method investees 0       0       0 0    
Real Estate Securities                        
Segment Reporting Information [Line Items]                        
Interest income                 431,706 265,862 110,123  
Interest expense                 122,997 49,283 18,230  
Net interest income (expense)                 308,709 216,579 91,893  
Impairment                 10,334 10,264 5,788  
Servicing revenue, net                 0 0    
Other income (loss)                 (16,371) (47,747) (33,604)  
Operating expenses                 1,471 1,480 1,227  
Income (Loss) Before Income Taxes                 280,533 157,088 51,274  
Income tax expense (benefit)                 0 0 0  
Net Income (Loss)                 280,533 157,088 51,274  
Noncontrolling interests in income (loss) of consolidated subsidiaries                 0 0 0  
Net income (loss) attributable to common stockholders                 280,533 157,088 51,274  
Investments 8,071,140       4,973,711       8,071,140 4,973,711    
Cash and cash equivalents 38,728       8,405       38,728 8,405    
Restricted cash 0       0       0 0    
Other assets 1,098,921       1,753,076       1,098,921 1,753,076    
Total assets 9,208,789       6,735,192       9,208,789 6,735,192    
Debt 6,534,300       4,203,249       6,534,300 4,203,249    
Other liabilities 1,200,905       1,394,682       1,200,905 1,394,682    
Total liabilities 7,735,205       5,597,931       7,735,205 5,597,931    
Total equity 1,473,584       1,137,261       1,473,584 1,137,261    
Noncontrolling interests in equity of consolidated subsidiaries 0       0       0 0    
Total New Residential stockholders’ equity 1,473,584       1,137,261       1,473,584 1,137,261    
Investments in equity method investees 0       0       0 0    
Residential Mortgage Loans                        
Segment Reporting Information [Line Items]                        
Interest income                 110,087 56,249 43,180  
Interest expense                 51,473 25,675 21,510  
Net interest income (expense)                 58,614 30,574 21,670  
Impairment                 12,593 23,870 18,596  
Servicing revenue, net                 0 0    
Other income (loss)                 16,175 26,779 15,405  
Operating expenses                 31,529 14,961 13,415  
Income (Loss) Before Income Taxes                 30,667 18,522 5,064  
Income tax expense (benefit)                 1,272 2,117 (3,199)  
Net Income (Loss)                 29,395 16,405 8,263  
Noncontrolling interests in income (loss) of consolidated subsidiaries                 0 0 0  
Net income (loss) attributable to common stockholders                 29,395 16,405 8,263  
Investments 2,544,984       947,017       2,544,984 947,017    
Cash and cash equivalents 15,483       5,366       15,483 5,366    
Restricted cash 0       0       0 0    
Other assets 113,035       100,951       113,035 100,951    
Total assets 2,673,502       1,053,334       2,673,502 1,053,334    
Debt 2,108,007       783,006       2,108,007 783,006    
Other liabilities 23,917       22,689       23,917 22,689    
Total liabilities 2,131,924       805,695       2,131,924 805,695    
Total equity 541,578       247,639       541,578 247,639    
Noncontrolling interests in equity of consolidated subsidiaries 0       0       0 0    
Total New Residential stockholders’ equity 541,578       247,639       541,578 247,639    
Investments in equity method investees 0       0       0 0    
Consumer Loans                        
Segment Reporting Information [Line Items]                        
Interest income                 263,844 232,750 1  
Interest expense                 52,808 54,427 1,615  
Net interest income (expense)                 211,036 178,323 (1,614)  
Impairment                 63,165 53,846 0  
Servicing revenue, net                 0 0    
Other income (loss)                 28,075 76,518 43,954  
Operating expenses                 43,552 39,466 228  
Income (Loss) Before Income Taxes                 132,394 161,529 42,112  
Income tax expense (benefit)                 170 75 325  
Net Income (Loss)                 132,224 161,454 41,787  
Noncontrolling interests in income (loss) of consolidated subsidiaries                 45,892 38,127 0  
Net income (loss) attributable to common stockholders                 86,332 123,327 41,787  
Investments 1,425,675       1,799,486       1,425,675 1,799,486    
Cash and cash equivalents 40,687       27,962       40,687 27,962    
Restricted cash 46,129       56,435       46,129 56,435    
Other assets 28,621       35,921       28,621 35,921    
Total assets 1,541,112       1,919,804       1,541,112 1,919,804    
Debt 1,332,854       1,767,676       1,332,854 1,767,676    
Other liabilities 6,596       6,382       6,596 6,382    
Total liabilities 1,339,450       1,774,058       1,339,450 1,774,058    
Total equity 201,662       145,746       201,662 145,746    
Noncontrolling interests in equity of consolidated subsidiaries 34,466       35,020       34,466 35,020    
Total New Residential stockholders’ equity 167,196       110,726       167,196 110,726    
Investments in equity method investees 51,412       0       51,412 0    
Corporate                        
Segment Reporting Information [Line Items]                        
Interest income                 629 1,924 2,587  
Interest expense                 0 0 4,196  
Net interest income (expense)                 629 1,924 (1,609)  
Impairment                 0 0 0  
Servicing revenue, net                 0 0    
Other income (loss)                 5,346 13 (3,102)  
Operating expenses                 159,695 102,627 87,536  
Income (Loss) Before Income Taxes                 (153,720) (100,690) (92,247)  
Income tax expense (benefit)                 0 0 0  
Net Income (Loss)                 (153,720) (100,690) (92,247)  
Noncontrolling interests in income (loss) of consolidated subsidiaries                 0 0 (5,161)  
Net income (loss) attributable to common stockholders                 (153,720) (100,690) $ (87,086)  
Investments 0       0       0 0    
Cash and cash equivalents 17,594       56,436       17,594 56,436    
Restricted cash 0       0       0 0    
Other assets 30,050       16,993       30,050 16,993    
Total assets 47,644       73,429       47,644 73,429    
Debt 0       0       0 0    
Other liabilities 249,612       167,634       249,612 167,634    
Total liabilities 249,612       167,634       249,612 167,634    
Total equity (201,968)       (94,205)       (201,968) (94,205)    
Noncontrolling interests in equity of consolidated subsidiaries 0       0       0 0    
Total New Residential stockholders’ equity (201,968)       (94,205)       (201,968) (94,205)    
Investments in equity method investees $ 0       $ 0       $ 0 $ 0