ORGANIZATION AND BASIS OF PRESENTATION (Tables)

9 Months Ended

Sep. 30, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The table below summarizes New Residential’s allocation of the total consideration paid to acquire the assets and assume the liabilities of Caliber (in millions):

Assets Acquired
Mortgage servicing rights, at fair value	$	1,507.5
Residential mortgage loans, held-for-sale	7,685.7
Residential mortgage loans subject to repurchase	666.8
Cash and cash equivalents	472.7
Restricted cash	30.6
Servicer advances receivable	113.4
Other assets	640.6
Total Assets Acquired	$	11,117.3
Liabilities Assumed
Secured financing agreements	$	7,090.6
Secured notes and bonds payable	1,121.8
Residential mortgage loan repurchase liability	666.8
Accrued expenses and other liabilities	916.1
Total Liabilities Assumed	$	9,795.3
Net Assets	$	1,322.0
Total Consideration	$	1,318.5
Goodwill (Bargain Purchase Gain)	$	(3.5)

Business Combination, Pro Forma Financial Information

The following table presents unaudited pro forma combined revenues and income before income taxes for the three and nine months ended September 30, 2021 and 2020 prepared as if the Caliber acquisition had been consummated on January 1, 2020:

	Three Months Ended September 30,				Nine Months Ended September 30,
Pro Forma	2021		2020		2021		2020
Revenues	$	1,285,690	$	1,463,384	$	4,257,458	$	3,333,123
Income Before Income Taxes	148,380		487,755		1,043,357		(874,436)

Schedule of Acquired Intangible Assets

The following table presents the details of identifiable intangible assets acquired:

	Estimated Useful Life	Amount
Purchased technology	5	$	38,545
Trade names/trademarks	1	2,483
Total identifiable intangible assets		$	41,028