Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS (Details Narrative)

v2.4.0.8
DEBT OBLIGATIONS (Details Narrative) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended 6 Months Ended 1 Months Ended 6 Months Ended 1 Months Ended
Jun. 30, 2014
Dec. 31, 2013
Jun. 30, 2014
Golf Investments [Member]
Jun. 30, 2014
Bank of America [Member]
Jun. 30, 2014
Credit Suisse [Member]
Jun. 30, 2014
Subsequent To Balance Sheet Date [Member]
Jun. 30, 2014
Upper Range [Member]
Jun. 30, 2014
Interest rate swaps [Member]
Not designated as hedging instrument [Member]
Dec. 31, 2013
Interest rate swaps [Member]
Not designated as hedging instrument [Member]
Jun. 30, 2014
CDO VI Bonds Payable [Member]
Interest rate swaps [Member]
Not designated as hedging instrument [Member]
Jun. 30, 2014
Residential Mortgage Loans Repurchase Agreements [Member]
Jun. 30, 2014
CDO Securities Repurchase Agreements [Member]
Jul. 31, 2014
CDO Securities Repurchase Agreements [Member]
Subsequent To Balance Sheet Date [Member]
Jun. 30, 2014
Fixed Rate Managed Properties - Tranche 1 [Member]
Jun. 30, 2014
Fixed Rate Managed Properties - Tranche 1 [Member]
Jun. 30, 2014
Fixed Rate Triple Net Lease Properties - Tranche 1 [Member]
Jun. 30, 2014
Fixed Rate Triple Net Lease Properties - Tranche 2 [Member]
Jun. 30, 2014
Floating Rate Managed Properties [Member]
Jun. 30, 2014
Floating Rate Managed Properties [Member]
Upper Range [Member]
Jun. 30, 2014
Golf First Lien Loan [Member]
Jun. 30, 2014
Subprime Mortgage Loans Subject to Call [Member]
Jun. 30, 2014
Total Golf Credit Facilities [Member]
Jun. 30, 2013
CDO VIII Bonds Payable [Member]
Notional Amount of Derivatives               $ 158,258 $ 185,871 $ 88,800                          
Interest Payable             100                                
Repurchase agreements       79,700 23,000 102,700                                  
Margin exposure                     23,000 79,700                      
Debt amount subject to specific conditions                           40,900 11,400 359,900 314,700 165,000          
Variable rate description                     LIBOR [1],[2] LIBOR [1],[2],[3] one month LIBOR 4% the first two years; 5.99% to 6.76% the remaining term First two years based on US Treasury Security rates; Years 3 to 5: 4.5%, 4.75% and 5.0% 4.00% until January 2019, 4.99% therafter 3.83% until January 2019, 4.56% therafter   LIBOR [1],[4] 3 month LIBOR [1],[5],[6] LIBOR+2.25% after April 2016   one-month LIBOR
LIBOR Floor                                   1.00%   0.50%      
Effective interest rate                               4.00% 3.83%            
Unused borrowing capacity                                           7,600  
Golf facilities capital lease term     66 months                                        
Purchase of securities - face amount                                             116,800
Purchase of securities - pay amount                                             103,100
Percentage of par of securities                                             88.30%
Repurchase agreements $ 102,677 $ 556,347                                         $ 60,000
Variable Interest Rate Spread                     2.00% [1],[2] 1.65% [1],[2],[3] 1.65%           3.75% [1],[4] 4.00% [1],[5],[6]     1.50%
[1] Weighted average, including floating and fixed rate classes.
[2] These repurchase agreements had less than $0.1 million of accrued interest payable at June 30, 2014. $102.7 million face amount of these repurchase agreements were renewed subsequent to June 30, 2014. The counterparties on these repurchase agreements are Bank of America ($79.7 million) and Credit Suisse ($23.0 million). Newcastle has margin exposure on a $23.0 million repurchase agreement related to the financing of residential mortgage loans, and a $79.7 million repurchase agreement related to the financing of certain Newcastle CDO VIII and CDO IX notes. To the extent that the value of the collateral underlying these repurchase agreements declines, Newcastle may be required to post margin, which could significantly impact its liquidity.
[3] Represents refinancing of repurchased Newcastle CDO bonds where collateral is, therefore, eliminated in consolidation.
[4] $165.0 million of the floating rate mortgages have a LIBOR floor of 1.0%.
[5] The golf credit facilities are collateralized by all of the assets of the golf business.
[6] Interest rate on this is based on 3 month LIBOR with a LIBOR floor of 0.5%.