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INVESTMENTS IN CONSUMER LOANS (Tables)
 6 Months Ended
Jun. 30, 2020
Investments In Consumer Loans Equity Method Investees [Abstract]  
Summary of the Investment in Consumer Loan Companies
The following table summarizes the investment in consumer loans, held-for-investment held by New Residential:
Unpaid Principal BalanceInterest in Consumer LoansCarrying ValueWeighted Average Coupon
Weighted Average Expected Life (Years)(A)
Weighted Average Delinquency(B)
June 30, 2020
Consumer Loan Companies
Performing Loans$564,899  53.5 %$617,349  18.4 %3.84.6 %
Purchased Credit Deteriorated Loans(C)
148,047  53.5 %144,176  14.7 %3.69.4 %
Other - Performing Loans
5,439  100.0 %4,937  15.1 %0.62.7 %
Total Consumer Loans, held-for-investment
$718,385  $766,462  17.6 %3.75.5 %
December 31, 2019
Consumer Loan Companies
Performing Loans$644,676  53.5 %$682,310  18.8 %4.04.7 %
Purchased Credit Deteriorated Loans(C)
170,083  53.5 %136,633  15.5 %3.710.1 %
Other - Performing Loans
9,158  100.0 %8,602  15.1 %0.76.1 %
Total Consumer Loans, held-for-investment
$823,917  $827,545  18.0 %3.95.9 %

(A)Represents the weighted average expected timing of the receipt of expected cash flows for this investment.
(B)Represents the percentage of the total unpaid principal balance that is 30+ days delinquent. Delinquency status is the primary credit quality indicator as it provides early warning of borrowers who may be experiencing financial difficulties.
(C)Includes loans with evidence of credit deterioration since origination where it is probable that New Residential will not collect all contractually required principal and interest payments, which are accounted for as PCD loans.
Schedule Of Consumer Loans, Held-For-Investment
The following table summarizes the past due status and difference between the aggregate unpaid principal balance and the aggregate fair value of consumer loans as of June 30, 2020:
Days Past DueUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal Balance
Under 90 Days704,708  752,053  47,345  
90 days or more past due13,677  14,409  732  
Total718,385  766,462  48,077  
Past Due Financing Receivable
The following table summarizes the difference between the aggregate unpaid principal balance and the aggregate fair value of loans as of June 30, 2020:
Days Past DueUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal Balance
90 to 119$292,123  $244,837  $(47,286) 
120+717,573  597,082  (120,491) 
$1,009,696  $841,919  $(167,777) 
The following table provides past due information regarding New Residential’s Performing Loans, which is an important indicator of credit quality and the establishment of the allowance for credit losses:
December 31, 2019
Days Past Due
Delinquency Status(A)
Current86.5 %
30-597.0 %
60-892.7 %
90-119(B)
0.7 %
120+(C)
3.1 %
100.0 %

(A)Represents the percentage of the total principal balance that corresponds to loans that are in each delinquency status.
(B)Includes loans 90-119 days past due and still accruing interest because they are generally placed on nonaccrual status at 120 days or more past due.
(C)Represents nonaccrual loans.
The following table provides past due information regarding New Residential’s performing consumer loans, held-for-investment, which is an important indicator of credit quality and the establishment of the allowance for loan losses:
December 31, 2019
Days Past Due
Delinquency Status(A)
Current95.3 %
30-591.8 %
60-891.2 %
90-119(B)
0.7 %
120+(B) (C)
1.0 %
100.0 %

(A)Represents the percentage of the total unpaid principal balance that corresponds to loans that are in each delinquency status.
(B)Includes loans more than 90 days past due and still accruing interest.
(C)Interest is accrued up to the date of charge-off at 180 days past due.
Schedule of Carrying Value of Performing Consumer Loans
Activities related to the fair value of consumer loans, held-for-investment were as follows:
Balance at December 31, 2019$827,545  
Fair value adjustment due to fair value option36,472  
Additional fundings(A)
17,684  
Proceeds from repayments(119,124) 
Accretion of loan discount and premium amortization, net13,108  
Fair value adjustment due to:
Changes in instrument-specific credit risk(4,565) 
Other factors(4,658) 
Balance at June 30, 2020$766,462  

(A)Represents draws on consumer loans with revolving privileges.
Equity Method Investments
The following tables summarize the financial results of the Excess MSR joint ventures, accounted for as equity method investees, held by New Residential:
June 30, 2020December 31, 2019
Excess MSR assets$200,650  $226,843  
Other assets24,983  25,035  
Other liabilities(687) (687) 
Equity$224,946  $251,191  
New Residential’s investment$112,473  $125,596  
New Residential’s ownership50.0 %50.0 %

Three Months Ended
June 30,		Six Months Ended
June 30,
2020201920202019
Interest income$536  $190  $7,850  $4,261  
Other income (loss)(4,632) (6,727) (12,852) (5,557) 
Expenses(8) (15) (16) (32) 
Net income (loss)$(4,104) $(6,552) $(5,018) $(1,328) 

The following table summarizes the activity of New Residential’s investments in equity method investees:
Balance at December 31, 2019$125,596  
Distributions of earnings from equity method investees(1,172) 
Distributions of capital from equity method investees(9,442) 
Change in fair value of investments in equity method investees(2,509) 
Balance at June 30, 2020$112,473  
The following table summarizes the income earned from the Company’s investments in LoanCo and WarrantCo during 2019:
Three Months Ended
June 30, 2019(A)
Six Months Ended
June 30, 2019(A)
Interest income$11,390  $19,367  
Interest expense(3,665) (6,487) 
Change in fair value of consumer loans and warrants(15,993) (1,457) 
Gain on sale of consumer loans(1,222) (1,668) 
Other expenses(1,462) (2,918) 
Net income$(10,952) $6,837  
New Residential’s equity in net income$(2,654) $1,657  
New Residential’s ownership24.2 %24.2 %

(A)Data for the period ended May 31, 2019 as a result of the one month reporting lag.

The following is a summary of LoanCo’s consumer loan investments at June 30, 2019:
Unpaid Principal BalanceInterest in Consumer LoansCarrying ValueWeighted Average Coupon
Weighted Average Expected Life (Years)(A)
Weighted Average Delinquency(B)
June 30, 2019(C)
$414,530  25.0 %$409,379  14.6 %1.31.4 %

(A)Represents the weighted average expected timing of the receipt of expected cash flows for this investment.
(B)Represents the percentage of the total unpaid principal balance that is 30+ days delinquent. Delinquency status is the primary credit quality indicator as it provides early warning of borrowers who may be experiencing financial difficulties.
(C)Data as of May 31, 2019 as a result of the one month reporting lag.