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OTHER ASSETS AND LIABILITIES (Tables)
 3 Months Ended
Mar. 31, 2022
Other Income Assets And Liabilities [Abstract]  
Schedule of Other Assets and Liabilities
Other Assets and Accrued Expenses and Other Liabilities consist of the following:
Other AssetsAccrued Expenses
and Other Liabilities
March 31, 2022December 31, 2021March 31, 2022December 31, 2021
Margin receivable, net(A)
$660,327 $358,041 Margin payable$240,061 $9,821 
Servicing fee receivables128,389 117,935 Interest payable36,947 30,931 
Principal and interest receivable101,935 85,084 Accounts payable217,014 345,901 
Equity investments(B)
72,146 81,052 Derivative liabilities (Note 17)87,150 34,583 
Other receivables223,117 233,342 Accrued compensation and benefits129,544 201,057 
REO17,783 21,641 Operating lease liabilities (Note 16)131,446 142,620 
Goodwill (Note 15)(C)
85,199 85,199 Deferred tax liability642,044 440,690 
Notes receivable, at fair value(D)
61,509 60,549 Other liabilities256,180 153,165 
Warrants, at fair value26,308 27,354 $1,740,386 $1,358,768 
Property and equipment51,820 56,617 
Intangible assets (Note 15)142,690 143,133 
Prepaid expenses83,831 115,110 
Operating lease right-of-use assets (Note 16)108,961 117,131 
Derivative assets (Note 17)522,862 138,173 
Loans receivable, at fair value(E)
173,667 229,631 
Credit facilities receivable(F)
38,452 41,351 
Loans in process and settlements in process(G)
68,923 11,681 
Other assets78,206 105,728 
$2,646,125 $2,028,752 
(A)Represents collateral posted as a result of changes in fair value of New Residential’s (i) real estate securities securing its secured financing agreements and (ii) derivative instruments.
(B)Represents equity investments in funds that invest in (i) a commercial redevelopment project and (ii) operating companies in the single-family housing industry. The commercial redevelopment project is accounted for at fair value based on the net asset value of New Residential’s investment. Equity investments also includes an investment in Covius Holding Inc. (“Covius”), a provider of various technology-enabled services to the mortgage and real estate industries, preferred stock in Valon Mortgage, Inc. (“Valon”), a residential mortgage servicing and technology company, and preferred stock in Credijusto Ltd. (“Covalto”), a financial services company.
(C)Includes goodwill derived from the acquisition of Shellpoint Partners LLC (“Shellpoint”), Guardian Asset Management LLC (“Guardian”) and Genesis.
(D)Represents a subordinated debt facility to Covius and a private note with Matic Insurance Services, Inc. (“Matic”). The loans are accounted for under the fair value option. Electing the fair value option allows the Company to record changes in fair value in the Consolidated Statements of Income and provides users of the financial statements with better information regarding the effect of market factors.
(E)Represents loans made pursuant to a senior credit agreement and a senior subordinated credit agreement to an entity affiliated with funds managed by an affiliate of the Manager (see Note 23). The loans are accounted for under the fair value option. Electing the fair value option allows the Company to record changes in fair value in the Consolidated Statements of Income and provides users of the financial statements with better information regarding the effect of market factors.
(F)Represents cash deposits and collections associated with certain collateral assets which are held by the lender trust until settled each month.
(G)Loans in process represent timing differences in the disbursing of funds and the closing of the loan. Settlements in process represent timing differences in the receipt of funds and settlement of the loan sale.
Schedule of Real Estate Owned
The following table presents activity related to the carrying value of investments in REO:
Balance at December 31, 2021$21,641 
Purchases14 
Transfer of loans to REO2,002 
Sales(A)
(6,037)
Valuation (provision) reversal 163 
Balance at March 31, 2022$17,783 
(A)Recognized when control of the property has transferred to the buyer.
Schedule of Accounts, Notes and Loans Receivable
The following table summarizes residential mortgage loans outstanding by loan type:
March 31, 2022December 31, 2021
Loan TypeOutstanding Face AmountCarrying
Value		Loan
Count		Weighted Average Yield
Weighted Average Life (Years)(A)
Carrying Value
Total residential mortgage loans, held-for-investment, at fair value(B)
$605,417 $547,404 10,891 7.1 %5.1$569,933 
Acquired performing loans(C)
135,025 122,889 2,705 7.0 %4.7130,634 
Acquired non-performing loans(D)
3,352 2,670 41 7.4 %4.52,287 
Total residential mortgage loans, held-for-sale, at lower of cost or market$138,377 $125,559 2,746 7.0 %4.7$132,921 
Acquired performing loans(C)(E)
$1,592,694 $1,550,278 9,535 3.9 %11.7$2,070,262 
Acquired non-performing loans(D)(E)
597,699 559,201 3,278 3.4 %4.9315,063 
Originated loans4,984,128 4,967,437 8,113 3.8 %27.58,829,599 
Total residential mortgage loans, held-for-sale, at fair value$7,174,521 $7,076,916 20,926 3.8 %22.1$11,214,924 
Total residential mortgage loans, held-for-sale, at fair value/lower of cost or market$7,312,898 $7,202,475 $11,347,845 
(A)For loans classified as Level 3 in the fair value hierarchy, the weighted average life is based on the expected timing of the receipt of cash flows. For Level 2 loans, the weighted average life is based on the contractual term of the loan.
(B)Residential mortgage loans, held-for-investment, at fair value is grouped and presented as part of Residential Loans and Variable Interest Entity Consumer Loans Held-for-Investment, at Fair Value on the Consolidated Balance Sheets.
(C)Performing loans are generally placed on nonaccrual status when principal or interest is 120 days or more past due.
(D)As of March 31, 2022, New Residential has placed non-performing loans, held-for-sale on nonaccrual status, except as described in (E) below.
(E)Includes $725.3 million and $363.9 million UPB of Ginnie Mae EBO performing and non-performing loans, respectively, on accrual status as contractual cash flows are guaranteed by the FHA.
The following table summarizes Mortgage Loans Receivable outstanding by loan purpose as of March 31, 2022:
Carrying
Value(A)
% of PortfolioLoan
Count		% of PortfolioWeighted Average YieldWeighted Average Original Life (Months)
Weighted Average Committed Loan Balance to Value(B)
Construction$727,507 43.5 %56039.4 %8.0 %13.9
76.0% / 65.3%
Bridge716,039 42.9 %48434.0 %7.6 %16.677.4 %
Renovation226,869 13.6 %37926.6 %7.8 %12.8
78.3% / 66.2%
$1,670,415 100.0 %1,423100.0 %7.8 %14.9
(A)Represents fair value.
(B)Weighted by commitment loan-to-value (“LTV”) for bridge loans, loan-to-cost (“LTC”) or loan-to-after-repair-value (“LTARV”) for construction and renovation loans.

The following table summarizes the activity for Mortgage Loans Receivables:
Balance at December 31, 2021$1,515,762 
Initial loan advances430,693 
Construction holdbacks and draws104,528 
Paydowns and payoffs(357,025)
Purchased loans premium amortization(29,085)
Fair value adjustments due to:
Changes in instrument-specific credit risk— 
Other factors5,542 
Balance at March 31, 2022
$1,670,415 
Notes and Loans Receivable — The following table summarizes the activity for notes and loans receivable:
Notes ReceivableLoans ReceivableTotal
Balance at December 31, 2021
$60,549 $229,631 $290,180 
Accrued interest paid-in-kind1,187 2,136 3,323 
Proceeds from repayments— (57,741)(57,741)
Fair value adjustments due to:
Changes in instrument-specific credit risk— — — 
Other factors(227)(359)(586)
Balance at March 31, 2022
$61,509 $173,667 $235,176 
Schedule of Performing Loans Past Due
The following table summarizes the difference between the aggregate unpaid principal balance and the aggregate fair value of loans:
March 31, 2022December 31, 2021
Days Past DueUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal BalanceUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal Balance
Less than 120$4,413,616 $4,303,086 $(110,530)$11,101,345 $11,323,443 $222,098 
120+3,504,699 3,446,793 (57,906)623,093 594,335 (28,758)
$7,918,315 $7,749,879 $(168,436)$11,724,438 $11,917,778 $193,340 
The following table summarizes the past due status and difference between the aggregate unpaid principal balance and the aggregate fair value of Mortgage Loans Receivable:
March 31, 2022December 31, 2021
Days Past DueUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal BalanceUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal Balance
Under 90 days$1,650,091 $1,670,415 $20,324 $1,473,894 $1,515,762 $41,868 
90+— — — — — — 
$1,650,091 $1,670,415 $20,324 $1,473,894 $1,515,762 $41,868 
The following table summarizes the difference between the aggregate unpaid principal balance and the aggregate fair value of notes and loans receivable:
March 31, 2022December 31, 2021
Days Past DueUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal BalanceUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal Balance
Current$234,648 $235,176 $528 $289,065 $290,180 $1,115 
90+— — — — — — 
$234,648 $235,176 $528 $289,065 $290,180 $1,115