Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Details Narrative)

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SEGMENT REPORTING (Details Narrative) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Jun. 30, 2012
Dec. 31, 2011
Aggregate Face Amount of debt $ 154,800  
Carrying Value of debt   141,000
Repurchase Agreement - FNMA/FHLMC securities 3,161  
Carrying value of FNMA/FHLMC securities 337,600  
Repurchase Agreement - Newcastle CDO VI 1,900  
Senior notes Newcastle CDO VI 27,300  
Non-agency residential mortgage backed securities purchased 10  
Aggregate Face Amount of Non-Agency securities purchased 181,600  
Aggregate purchase price of non-agency securities 122,400  
Average price (percentage of par) of Non-Agency securities purchased 67.40%  
Aggregate Face Amount of Debt, Non-Agency RE Securities 177,400  
Carrying Value of debt, Non-Agency RE Securities 119,500  
Face amount of debt in VIE 42,300  
Carrying Value of Newcastle's Investment (C) 3,957  
Face amount of CDO V Class I notes 5,300  
Recourse Financing Structures Unlevered Assets and Other Liabilities
   
Recourse debt $ 317,972