We
consent to the incorporation by reference in the Registration Statement (Form
S-3 No. 333-140840) of Newcastle Investment Corp. and in the related Prospectus
of our reports dated February 22, 2007, with respect to the consolidated
financial statements of Newcastle Investment Corp., Newcastle Investment
Corp.
management’s assessment of the effectiveness of internal control over financial
reporting, and the effectiveness of internal control over financial reporting
of
Newcastle Investment Corp., included in this Annual Report (Form 10-K) for
the
year ended December 31, 2006.
/s/
Ernst
& Young
New
York,
NY
February
22, 2007