SEGMENT REPORTING

12 Months Ended

Dec. 31, 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 MSRs, (iii) investments in Servicer Advances, (iv) investments in real estate securities, (v) investments in residential mortgage loans, (vi) investments in consumer loans, and (vii) 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		MSRs		Servicer Advances			Real Estate Securities			Residential Mortgage Loans		Consumer Loans		Corporate			Total
Year Ended December 31, 2016
Interest income	$	150,141	$	—	$	369,809		$	265,862		$	56,249	$	232,750	$	1,924		$	1,076,735
Interest expense	19,160		—		224,879			49,283			25,675		54,427		—			373,424
Net interest income (expense)	130,981		—		144,930			216,579			30,574		178,323		1,924			703,311
Impairment	—		—		—			10,264			23,870		53,846		—			87,980
Servicing revenue, net	—		118,169		—			—			—		—		—			118,169
Other income (loss)	11,398		—		(4,624		)	(47,747		)	26,779		76,518		13			62,337
Operating expenses	1,259		10,693		3,724			1,480			14,961		39,466		102,627			174,210
Income (Loss) Before Income Taxes	141,120		107,476		136,582			157,088			18,522		161,529		(100,690		)	621,627
Income tax expense (benefit)	—		15,683		21,036			—			2,117		75		—			38,911
Net Income (Loss)	$	141,120	$	91,793	$	115,546		$	157,088		$	16,405	$	161,454	$	(100,690	)	$	582,716
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	—	$	40,136		$	—		$	—	$	38,127	$	—		$	78,263
Net income (loss) attributable to common stockholders	$	141,120	$	91,793	$	75,410		$	157,088		$	16,405	$	123,327	$	(100,690	)	$	504,453

	Servicing Related Assets						Residential Securities and Loans
	Excess MSRs		MSRs		Servicer Advances		Real Estate Securities		Residential Mortgage Loans		Consumer Loans		Corporate			Total
December 31, 2016
Investments	$	1,594,243	$	659,483	$	5,806,740	$	4,973,711	$	947,017	$	1,799,486	$	—		$	15,780,680
Cash and cash equivalents	2,225		95,840		94,368		8,405		5,366		27,962		56,436			290,602
Restricted cash	24,538		—		82,122		—		—		56,435		—			163,095
Other assets	2,404		40,608		180,705		1,753,076		100,951		35,921		16,993			2,130,658
Total assets	$	1,623,410	$	795,931	$	6,163,935	$	6,735,192	$	1,053,334	$	1,919,804	$	73,429		$	18,365,035
Debt	$	729,145	$	—	$	5,698,160	$	4,203,249	$	783,006	$	1,767,676	$	—		$	13,181,236
Other liabilities	2,189		97,923		24,123		1,394,682		22,689		6,382		167,634			1,715,622
Total liabilities	731,334		97,923		5,722,283		5,597,931		805,695		1,774,058		167,634			14,896,858
Total equity	892,076		698,008		441,652		1,137,261		247,639		145,746		(94,205		)	3,468,177
Noncontrolling interests in equity of consolidated subsidiaries	—		—		173,057		—		—		35,020		—			208,077
Total New Residential stockholders’ equity	$	892,076	$	698,008	$	268,595	$	1,137,261	$	247,639	$	110,726	$	(94,205	)	$	3,260,100
Investments in equity method investees	$	194,788	$	—	$	—	$	—	$	—	$	—	$	—		$	194,788

	Servicing Related Assets					Residential Securities and Loans
	Excess MSRs		Servicer Advances			Real Estate Securities			Residential Mortgage Loans			Consumer Loans			Corporate			Total
Year Ended December 31, 2015
Interest income	$	134,565	$	354,616		$	110,123		$	43,180		$	1		$	2,587		$	645,072
Interest expense	11,625		216,837			18,230			21,510			1,615			4,196			274,013
Net interest income (expense)	122,940		137,779			91,893			21,670			(1,614		)	(1,609		)	371,059
Impairment	—		—			5,788			18,596			—			—			24,384
Other income (loss)	72,802		(53,426		)	(33,604		)	15,405			43,954			(3,102		)	42,029
Operating expenses	1,101		14,316			1,227			13,415			228			87,536			117,823
Income (Loss) Before Income Taxes	194,641		70,037			51,274			5,064			42,112			(92,247		)	270,881
Income tax expense (benefit)	—		(8,127		)	—			(3,199		)	325			—			(11,001		)
Net Income (Loss)	$	194,641	$	78,164		$	51,274		$	8,263		$	41,787		$	(92,247	)	$	281,882
Noncontrolling interests in income (loss) of consolidated subsidiaries	$	—	$	18,407		$	—		$	—		$	—		$	(5,161	)	$	13,246
Net income (loss) attributable to common stockholders	$	194,641	$	59,757		$	51,274		$	8,263		$	41,787		$	(87,086	)	$	268,636

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Residential Mortgage Loans		Consumer Loans			Corporate			Total
December 31, 2015
Investments	$	1,798,738	$	7,857,841	$	2,070,834	$	1,157,433	$	—		$	—		$	12,884,846
Cash and cash equivalents	18,507		95,686		42,984		13,262		6,359			73,138			249,936
Restricted cash	878		93,824		—		—		—			—			94,702
Derivative assets	—		2,689		—		—		—			—			2,689
Other assets	34		198,962		1,600,091		106,330		1,767			53,365			1,960,549
Total assets	$	1,818,157	$	8,249,002	$	3,713,909	$	1,277,025	$	8,126		$	126,503		$	15,192,722
Debt	$	182,978	$	7,550,680	$	2,513,538	$	1,004,980	$	40,446		$	—		$	11,292,622
Other liabilities	2,277		18,153		740,392		14,382		459			137,857			913,520
Total liabilities	185,255		7,568,833		3,253,930		1,019,362		40,905			137,857			12,206,142
Total equity	1,632,902		680,169		459,979		257,663		(32,779		)	(11,354		)	2,986,580
Noncontrolling interests in equity of consolidated subsidiaries	—		190,647		—		—		—			—			190,647
Total New Residential stockholders’ equity	$	1,632,902	$	489,522	$	459,979	$	257,663	$	(32,779	)	$	(11,354	)	$	2,795,933
Investments in equity method investees	$	217,221	$	—	$	—	$	—	$	—		$	—		$	217,221

	Servicing Related Assets				Residential Securities and Loans
	Excess MSRs		Servicer Advances		Real Estate Securities		Residential Mortgage Loans		Consumer Loans			Corporate			Total
Year Ended December 31, 2014
Interest income	$	49,180	$	190,206	$	60,208	$	47,262	$	—		$	1		$	346,857
Interest expense	1,294		110,968		12,689		11,073		4,184			500			140,708
Net interest income (expense)	47,886		79,238		47,519		36,189		(4,184		)	(499		)	206,149
Impairment	—		—		1,391		9,891		—			—			11,282
Other income	100,052		83,828		14,589		30,759		145,860			—			375,088
Operating expenses	713		2,183		10,012		12,688		917			78,386			104,899
Income (Loss) Before Income Taxes	147,225		160,883		50,705		44,369		140,759			(78,885		)	465,056
Income tax expenses	—		20,806		—		2,059		92			—			22,957
Net Income (Loss)	$	147,225	$	140,077	$	50,705	$	42,310	$	140,667		$	(78,885	)	$	442,099
Noncontrolling interests in income of consolidated subsidiaries	$	—	$	89,222	$	—	$	—	$	—		$	—		$	89,222
Net income (loss) attributable to common stockholders	$	147,225	$	50,855	$	50,705	$	42,310	$	140,667		$	(78,885	)	$	352,877