We consent to the incorporation by reference in the Registration Statement (Form S-3 No. 333-109597) of Newcastle Investment Corp and subsidiaries and in the related Prospectus of our reports dated March 15, 2006, with respect to the consolidated financial statements of Newcastle Investment Corporation, Newcastle Investment Corporations’ management's assessment of the effectiveness of internal control over financial reporting, and the effectiveness of internal control over financial reporting of Newcastle Investment Corporation, included in this Annual Report (Form 10-K) for the year ended December 31, 2005.