Quarterly report pursuant to Section 13 or 15(d)

RECENT ACTIVITIES (Details Narrative)

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RECENT ACTIVITIES (Details Narrative) (USD $)
In Thousands, except Share data, unless otherwise specified
 6 Months Ended 0 Months Ended 1 Months Ended 1 Months Ended 1 Months Ended
Jun. 30, 2014
Dec. 31, 2013
Jun. 30, 2014
Total CDO Bonds Payable [Member]
Jun. 30, 2014
CDO Securities Repurchase Agreements [Member]
Aug. 06, 2014
Subsequent To Balance Sheet Date [Member]
Aug. 19, 2014
Subsequent To Balance Sheet Date [Member]
Jul. 31, 2014
Subsequent To Balance Sheet Date [Member]
Directors [Member]
Jul. 31, 2014
Subsequent To Balance Sheet Date [Member]
Total CDO Bonds Payable [Member]
Jul. 31, 2014
Subsequent To Balance Sheet Date [Member]
CDO Securities Repurchase Agreements [Member]
Jun. 30, 2014
Residential Loans [Member]
Jul. 31, 2014
Residential Loans [Member]
Subsequent To Balance Sheet Date [Member]
Outstanding face amount                   $ 43,229 [1] $ 37,600
Loan percentage against par                     91.50%
Proceeds from sale of loan portfolio                     34,800
Debt repayed                     23,000
Net gain on sale of loans                     7,300
Deal/transaction expenses                     1,200
Debt Face Amount $ 2,171,875   $ 262,492 $ 79,712 [2],[3]       $ 20,000 $ 12,000    
Variable rate description       LIBOR [2],[3],[4]         one month LIBOR    
Variable Interest Rate Spread       1.65% [2],[3],[4]         1.65%    
Final Stated Maturity       Jul 2014 [2],[3]         Aug 2014    
Shares of common stock issued for compensation             15,658        
Reverse stock-split ratio         0.33            
Stock split effective date         August 19, 2014 opening of trading            
Common stock, shares issued 351,709,903 351,453,495       117,000,000          
Common stock, shares outstanding 351,709,903 351,453,495       117,000,000          
[1] Loans acquired at a discount for credit quality.
[2] Represents refinancing of repurchased Newcastle CDO bonds where collateral is, therefore, eliminated in consolidation.
[3] 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.
[4] Weighted average, including floating and fixed rate classes.