SEGMENT REPORTING

6 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

New Residential conducts its business through the following segments: (i) investments in Excess MSRs, (ii) investments in servicer advances, (iii) investments in real estate securities, (iv) investments in real estate loans, (v) investments in consumer loans, and (vi) corporate. The corporate segment consists primarily of (i) general and administrative expenses, (ii) the management fees and incentive compensation owed to the Manager by New Residential following the spin-off, (iii) corporate cash and related interest income, and (iv) secured corporate loans and related interest expense during the periods outstanding.

Summary financial data on New Residential’s segments is given below, together with a reconciliation to the same data for New Residential as a whole:

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities			Real Estate Loans			Consumer Loans			Corporate			Total
Three Months Ended June 30, 2015
Interest income	$	34,359	$	108,588	$	23,454		$	10,795		$	—		$	981		$	178,177
Interest expense	—		63,450		3,540			5,185			524			9,172			81,871
Net interest income (expense)	34,359		45,138		19,914			5,610			(524		)	(8,191		)	96,306
Impairment	—		—		650			4,771			—			—			5,421
Other income	4,298		24,115		(4,211		)	7,817			8,510			(2,879		)	37,650
Operating expenses	260		1,688		105			5,610			54			27,235			34,952
Income (Loss) Before Income Taxes	38,397		67,565		14,948			3,046			7,932			(38,305		)	93,583
Income tax expense (benefit)	—		15,657		—			(1,351		)	—			—			14,306
Net Income (Loss)	$	38,397	$	51,908	$	14,948		$	4,397		$	7,932		$	(38,305	)	$	79,277
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	9,279	$	—		$	—		$	—		$	(5,121	)	$	4,158
Net income (loss) attributable to common stockholders	$	38,397	$	42,629	$	14,948		$	4,397		$	7,932		$	(33,184	)	$	75,119

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities			Real Estate Loans			Consumer Loans			Corporate			Total
Six Months Ended June 30, 2015
Interest income	$	49,397	$	150,937	$	37,715		$	23,520		$	—		$	981		$	262,550
Interest expense	—		87,086		7,021			11,278			524			9,941			115,850
Net interest income (expense)	49,397		63,851		30,694			12,242			(524		)	(8,960		)	146,700
Impairment	—		—		1,720			5,749			—			—			7,469
Other income	8,188		13,389		(9,302		)	21,592			18,957			(2,879		)	49,945
Operating expenses	349		2,263		3			11,712			111			42,784			57,222
Income (Loss) Before Income Taxes	57,236		74,977		19,669			16,373			18,322			(54,623		)	131,954
Income tax expense (benefit)	—		12,417		—			(1,538		)	—			—			10,879
Net Income (Loss)	$	57,236	$	62,560	$	19,669		$	17,911		$	18,322		$	(54,623	)	$	121,075
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	15,102	$	—		$	—		$	—		$	(5,121	)	$	9,981
Net income (loss) attributable to common stockholders	$	57,236	$	47,458	$	19,669		$	17,911		$	18,322		$	(49,502	)	$	111,094

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate		Total
June 30, 2015
Investments	$	1,720,534	$	8,182,400	$	1,907,961	$	591,086	$	—		$	—	$	12,401,981
Cash and cash equivalents	3,900		95,899		16,516		6,689		2,665			306,338		432,007
Restricted cash	90		131,368		—		3,184		—			93		134,735
Derivative assets	—		1,701		—		—		—			—		1,701
Other assets	1,470		174,115		1,048,521		109,468		1,102			89,698		1,424,374
Total assets	$	1,725,994	$	8,585,483	$	2,972,998	$	710,427	$	3,767		$	396,129	$	14,394,798
Debt	$	—	$	7,667,067	$	1,831,989	$	552,229	$	42,832		$	193,561	$	10,287,678
Other liabilities	218		48,859		771,769		23,804		595			166,793		1,012,038
Total liabilities	218		7,715,926		2,603,758		576,033		43,427			360,354		11,299,716
Total equity	1,725,776		869,557		369,240		134,394		(39,660		)	35,775		3,095,082
Noncontrolling interests in equity of consolidated subsidiaries	—		231,652		—		—		—			—		231,652
Total New Residential stockholders’ equity	$	1,725,776	$	637,905	$	369,240	$	134,394	$	(39,660	)	$	35,775	$	2,863,430
Investments in equity method investees	$	216,112	$	—	$	—	$	—	$	—		$	—	$	216,112

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
Three Months Ended June 30, 2014
Interest income	$	10,973	$	57,107	$	19,522	$	5,054	$	—		$	—		$	92,656
Interest expense	—		29,772		3,512		1,191		1,538			499			36,512
Net interest income (expense)	10,973		27,335		16,010		3,863		(1,538		)	(499		)	56,144
Impairment	—		—		615		293		—			—			908
Other income	18,245		82,709		53,413		2,187		21,335			—			177,889
Operating expenses	320		769		571		887		90			26,885			29,522
Income (Loss) Before Income Taxes	28,898		109,275		68,237		4,870		19,707			(27,384		)	203,603
Income tax expense (benefit)	—		21,395		—		—		—			—			21,395
Net Income (Loss)	$	28,898	$	87,880	$	68,237	$	4,870	$	19,707		$	(27,384	)	$	182,208
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	58,705	$	—	$	—	$	—		$	—		$	58,705
Net income (loss) attributable to common stockholders	$	28,898	$	29,175	$	68,237	$	4,870	$	19,707		$	(27,384	)	$	123,503

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans			Corporate			Total
Six Months Ended June 30, 2014
Interest income	$	24,789	$	102,823	$	30,760	$	5,774	$	—		$	—		$	164,146
Interest expense	1,291		61,728		7,581		1,389		3,021			499			75,509
Net interest income (expense)	23,498		41,095		23,179		4,385		(3,021		)	(499		)	88,637
Impairment	—		—		943		457		—			—			1,400
Other income	31,221		82,709		58,455		2,858		37,695			1			212,939
Operating expenses	385		1,019		631		977		113			36,296			39,421
Income (Loss) Before Income Taxes	54,334		122,785		80,060		5,809		34,561			(36,794		)	260,755
Income tax expense (benefit)	—		21,682		—		—		—			—			21,682
Net Income (Loss)	$	54,334	$	101,103	$	80,060	$	5,809	$	34,561		$	(36,794	)	$	239,073
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	66,798	$	—	$	—	$	—		$	—		$	66,798
Net income (loss) attributable to common stockholders	$	54,334	$	34,305	$	80,060	$	5,809	$	34,561		$	(36,794	)	$	172,275