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DERIVATIVES (Tables)
 3 Months Ended
Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivatives
New Residential’s derivatives are recorded at fair value on the Condensed Consolidated Balance Sheets as follows:
 
Balance Sheet Location
 
March 31, 2018
 
December 31, 2017
Derivative assets
 
 
 
 
 
Interest Rate Swaps(A)
Other assets
 
$
3

 
$
—

Interest Rate Caps
Other assets
 
585

 
2,423

TBAs
Other assets
 
—

 
—

 
 
 
$
588

 
$
2,423

Derivative liabilities
 
 
 
 
 
Interest Rate Swaps(A)
Accrued expenses and other liabilities
 
$
—

 
$
—

TBAs
Accrued expenses and other liabilities
 
4,091

 
697

 
 
 
$
4,091

 
$
697


(A)
Net of less than $0.1 million of related variation margin accounts as of March 31, 2018. As of December 31, 2017, no variation margin accounts existed.
 
The following table summarizes notional amounts related to derivatives:
 
March 31, 2018
 
December 31, 2017
TBAs, short position(A)
$
2,176,700

 
$
3,101,100

TBAs, long position(A)
1,066,300

 
1,014,000

Interest Rate Caps(B)
347,500

 
772,500

Interest Rate Swaps(C)
430,000

 
—


(A)
Represents the notional amount of Agency RMBS, classified as derivatives.
(B)
As of March 31, 2018, caps LIBOR at 2.00% for $185.0 million of notional, at 4.00% for $12.5 million of notional, and at 4.00% for $150.0 million of notional. The weighted average maturity of the interest rate caps as of March 31, 2018 was 13 months.
(C)
Receive LIBOR and pay a fixed rate. The weighted average maturity of the interest rate swaps as of March 31, 2018 was 37 months and the weighted average fixed pay rate was 2.67%.

The following table summarizes all income (losses) recorded in relation to derivatives:
 
 
For the  
 Three Months Ended 
 March 31,
 
 
2018
 
2017
Other income (loss), net(A)
 
 
 
 
TBAs
 
$
1,994

 
$
123

Interest Rate Caps
 
486

 
573

Interest Rate Swaps
 
(34
)
 
3,630

 
 
2,446

 
4,326

Gain (loss) on settlement of investments, net
 
 
 
 
TBAs
 
15,436

 
(6,801
)
Interest Rate Caps
 
(733
)
 
(562
)
Interest Rate Swaps
 
22,660

 
(4,473
)
 
 
37,363

 
(11,836
)
Total income (losses)
 
$
39,809

 
$
(7,510
)


(A)
Represents unrealized gains (losses).