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
 3 Months Ended 6 Months Ended 1 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Aug. 07, 2013
Dec. 31, 2012
Jun. 30, 2013
Bank of America
Jun. 30, 2013
Citi
Jun. 30, 2013
Nomura
Jun. 30, 2013
Interest rate swaps, designated as hedges
Dec. 31, 2012
Interest rate swaps, designated as hedges
Jun. 30, 2013
CDO IV Bonds Payable
Interest rate swaps, designated as hedges
Jun. 30, 2013
CDO VI Bonds Payable
Interest rate swaps, designated as hedges
Jun. 30, 2013
Total Repurchase Agreements
Jun. 30, 2013
CDO IV Divestiture
Jun. 30, 2013
CDO VIII Notes Payable
Notional Amount of Derivatives                   $ 105,749 $ 154,450 $ 23,400 $ 88,600      
Eliminated in consolidation amount of notes payable relating to MH Loan Portfolio I sold to certain Newcastle CDOs 20,500   20,500                          
Interest Payable                           100    
Repurchase agreements         311,300   264,900 17,900 28,500              
CDO Bonds Payable                                
Repurchase of CDO Bonds Payable - Face 10,900   10,900                          
Repurchase of CDO Bonds Payable - Pay Amount 9,700   9,700                          
Gain on extinguishment of debt    39 1,206 20,782                        
CDO IV                                
Percentage divestiture of CDO IV                             100.00%  
Face amount of collateral sold in CDO IV                             153,400  
Percentage of par of CDO IV sale                             95.00%  
Net proceeds from sale of CDO IV                             145,200  
Payment of outstanding third party debt in sale transaction                             71,900  
Gross proceeds form sale of CDO IV                             73,100  
Amount from sale of CDO IV received in CDO VIII                             5,300  
Par recovery                             59,500  
Percentage of Par previously repurchased at                             52.00%  
Proceeds on subordinated interests                             8,000  
Comprehensive income 64,609 43,105 134,456 196,469                     (600)  
Net gain on sale of assets                             4,200  
Gain on hedge termination                             800  
CDO VIII                                
Purchase of securities - face amount                               116,800
Purchase of securities - pay amount                               103,100
Percentage of par of securities                               88.30%
Repurchase agreements $ 311,276   $ 311,276     $ 929,435                   $ 60,000
Interest rate terms of repurchase agreement                               LIBOR plus 150 bps