SEGMENT REPORTING

6 Months Ended

Jun. 30, 2016

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 related to the Management Agreement and (iii) corporate cash and related interest income. Securities owned by New Residential (Note 7) that are collateralized by servicer advances are included in the Servicer Advances segment. Secured corporate loans effectively collateralized by Excess MSRs are included in the Excess MSRs segment.

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, 2016
Interest income	$	33,263		$	82,793	$	68,214		$	14,272	$	78,309	$	626		$	277,477
Interest expense	5,181			58,795		10,933			6,904		18,872		—			100,685
Net interest income (expense)	28,082			23,998		57,281			7,368		59,437		626			176,792
Impairment	—			—		2,819			855		15,970		—			19,644
Other income	(15,875		)	15,064		(24,403		)	5,491		—		—			(19,723		)
Operating expenses	298			944		477			2,718		12,614		19,229			36,280
Income (Loss) Before Income Taxes	11,909			38,118		29,582			9,286		30,853		(18,603		)	101,145
Income tax expense (benefit)	—			7,397		—			42		75		4			7,518
Net Income (Loss)	$	11,909		$	30,721	$	29,582		$	9,244	$	30,778	$	(18,607	)	$	93,627
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—		$	10,345	$	—		$	—	$	14,630	$	—		$	24,975
Net income (loss) attributable to common stockholders	$	11,909		$	20,376	$	29,582		$	9,244	$	16,148	$	(18,607	)	$	68,652

	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, 2016
Interest income	$	76,231		$	163,760		$	114,127		$	33,765		$	78,310	$	1,320		$	467,513
Interest expense	8,115			121,870			18,417			14,294			19,217		—			181,913
Net interest income (expense)	68,116			41,890			95,710			19,471			59,093		1,320			285,600
Impairment	—			—			6,073			7,600			15,970		—			29,643
Other income	(4,182		)	(12,327		)	(60,864		)	8,364			81,193		15			12,199
Operating expenses	530			2,047			938			6,943			14,218		36,620			61,296
Income (Loss) Before Income Taxes	63,404			27,516			27,835			13,292			110,098		(35,285		)	206,860
Income tax expense (benefit)	—			(2,605		)	—			(179		)	75		4			(2,705		)
Net Income (Loss)	$	63,404		$	30,121		$	27,835		$	13,471		$	110,023	$	(35,289	)	$	209,565
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—		$	14,547		$	—		$	—		$	14,630	$	—		$	29,177
Net income (loss) attributable to common stockholders	$	63,404		$	15,574		$	27,835		$	13,471		$	95,393	$	(35,289	)	$	180,388

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Real Estate Loans		Consumer Loans		Corporate			Total
June 30, 2016
Investments	$	1,674,563	$	6,919,791	$	4,148,140	$	885,911	$	1,830,436	$	—		$	15,458,841
Cash and cash equivalents	4,037		111,041		8,659		24,765		20,281		65,062			233,845
Restricted cash	6,830		95,984		—		—		65,229		—			168,043
Other assets	2,418		202,268		1,627,328		141,177		35,682		35,546			2,044,419
Total assets	$	1,687,848	$	7,329,084	$	5,784,127	$	1,051,853	$	1,951,628	$	100,608		$	17,905,148
Debt	$	323,645	$	6,790,257	$	3,310,512	$	772,550	$	1,723,770	$	—		$	12,920,734
Other liabilities	1,784		33,069		1,673,603		22,126		15,996		124,575			1,871,153
Total liabilities	325,429		6,823,326		4,984,115		794,676		1,739,766		124,575			14,791,887
Total equity	1,362,419		505,758		800,012		257,177		211,862		(23,967		)	3,113,261
Noncontrolling interests in equity of consolidated subsidiaries	—		187,719		—		—		114,102		—			301,821
Total New Residential stockholders’ equity	$	1,362,419	$	318,039	$	800,012	$	257,177	$	97,760	$	(23,967	)	$	2,811,440
Investments in equity method investees	$	199,145	$	—	$	—	$	—	$	—	$	—		$	199,145

	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	9,172		63,450		3,540			5,185			524			—			81,871
Net interest income (expense)	25,187		45,138		19,914			5,610			(524		)	981			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	29,225		67,565		14,948			3,046			7,932			(29,133		)	93,583
Income tax expense (benefit)	—		15,657		—			(1,351		)	—			—			14,306
Net Income (Loss)	$	29,225	$	51,908	$	14,948		$	4,397		$	7,932		$	(29,133	)	$	79,277
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	9,279	$	—		$	—		$	—		$	(5,121	)	$	4,158
Net income (loss) attributable to common stockholders	$	29,225	$	42,629	$	14,948		$	4,397		$	7,932		$	(24,012	)	$	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	9,941		87,086		7,021			11,278			524			—			115,850
Net interest income (expense)	39,456		63,851		30,694			12,242			(524		)	981			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	47,295		74,977		19,669			16,373			18,322			(44,682		)	131,954
Income tax expense (benefit)	—		12,417		—			(1,538		)	—			—			10,879
Net Income (Loss)	$	47,295	$	62,560	$	19,669		$	17,911		$	18,322		$	(44,682	)	$	121,075
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	15,102	$	—		$	—		$	—		$	(5,121	)	$	9,981
Net income (loss) attributable to common stockholders	$	47,295	$	47,458	$	19,669		$	17,911		$	18,322		$	(39,561	)	$	111,094