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Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis (Details)

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Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Principal Balance
    
Real estate securities, available-for-sale:    
CMBS $ 474,992  
REIT debt 62,700  
ABS - subprime 558,215  
ABS - other real estate 10,098  
FNMA/FHLMC 768,619  
CDO 203,477  
Real estate securities total 2,078,101  
Derivative assets:    
Interest rate caps, not treated as hedges 23,400 [1],[2],[3]  
Derivative assets total 23,400  
Derivative Liabilities:    
Interest rate swaps, treated as hedges 154,450 [1],[3],[4]  
Interest rate swaps, not treated as hedges 294,203 [1],[2],[3]  
Derivatives liabilities total 448,653  
Carrying (Reported) Amount, Fair Value Disclosure
    
Real estate securities, available-for-sale:    
CMBS 376,391  
REIT debt 66,174  
ABS - subprime 355,975  
ABS - other real estate 1,475  
FNMA/FHLMC 820,535  
CDO 71,025  
Real estate securities total 1,691,575  
Derivative assets:    
Interest rate caps, not treated as hedges 165 [1],[2],[3] 862 [1],[2],[3]
Derivative assets total 165  
Derivative Liabilities:    
Interest rate swaps, treated as hedges 12,175 [1],[3],[4] 90,025 [1],[3],[4]
Interest rate swaps, not treated as hedges 19,401 [1],[2],[3] 29,295 [1],[2],[3]
Derivatives liabilities total 31,576  
Estimate of Fair Value, Fair Value Disclosure
    
Real estate securities, available-for-sale:    
CMBS 376,391  
REIT debt 66,174  
ABS - subprime 355,975  
ABS - other real estate 1,475  
FNMA/FHLMC 820,535  
CDO 71,025  
Real estate securities total 1,691,575  
Derivative assets:    
Interest rate caps, not treated as hedges 165 [1],[2],[3] 862 [1],[2],[3]
Derivative assets total 165  
Derivative Liabilities:    
Interest rate swaps, treated as hedges 12,175 [1],[3],[4] 90,025 [1],[3],[4]
Interest rate swaps, not treated as hedges 19,401 [1],[2],[3] 29,295 [1],[2],[3]
Derivatives liabilities total 31,576  
Fair Value, Inputs, Level 2
    
Real estate securities, available-for-sale:    
CMBS     
REIT debt 66,174  
ABS - subprime     
ABS - other real estate     
FNMA/FHLMC 820,535  
CDO     
Real estate securities total 886,709  
Derivative assets:    
Interest rate caps, not treated as hedges 165  
Derivative assets total 165  
Derivative Liabilities:    
Interest rate swaps, treated as hedges 12,175  
Interest rate swaps, not treated as hedges 19,401  
Derivatives liabilities total 31,576  
Fair Value, Inputs, Level 3A
    
Real estate securities, available-for-sale:    
CMBS 330,026  
REIT debt     
ABS - subprime 330,021  
ABS - other real estate 798  
FNMA/FHLMC     
CDO 65,027  
Real estate securities total 725,872  
Derivative assets:    
Interest rate caps, not treated as hedges     
Derivative assets total     
Derivative Liabilities:    
Interest rate swaps, treated as hedges     
Interest rate swaps, not treated as hedges     
Derivatives liabilities total     
Fair Value, Inputs, Level 3B
    
Real estate securities, available-for-sale:    
CMBS 46,365  
REIT debt     
ABS - subprime 25,954  
ABS - other real estate 677  
FNMA/FHLMC     
CDO 5,998  
Real estate securities total 78,994  
Derivative assets:    
Interest rate caps, not treated as hedges     
Derivative assets total     
Derivative Liabilities:    
Interest rate swaps, treated as hedges     
Interest rate swaps, not treated as hedges     
Derivatives liabilities total     
[1] *Measured at fair value on a recurring basis.
[2] (D) This represents two interest rate swap agreements with a total notional balance of $294.2 million, maturing in March 2014 and March 2015, respectively, and an interest rate cap agreement with a notional balance of $23.4 million, maturing in August 2019. Newcastle entered into these agreements to reduce its exposure to interest rate changes on the floating rate financings of CDO IV, CDO VI and the senior living assets. These derivative agreements were not designated as hedges for accounting purposes as of December 31, 2012.
[3] (E) Newcastle's derivatives fall into two categories. As of December 31, 2012, all derivatives were held within Newcastle's nonrecourse CDO structures. An aggregate notional balance of $448.7 million, which were liabilities at period end, is only subject to the credit risks of the respective CDO structures. As they are senior to all the debt obligations of the respective CDOs and the fair value of each of the CDOs' total investments exceeded the fair value of each of the CDOs' derivative liabilities, no credit valuation adjustments were recorded. A notional balance of $23.4 million was an asset at period end and therefore are subject to the counterparty's credit risk. No adjustments have been made to the fair value quotations received related to credit risk as a result of the counterparty's "AA" credit rating. Newcastle's significant derivative counterparties include Bank of America, Credit Suisse, and Wells Fargo.
[4] (C) Represents derivative agreements as follows (See Table Schedule of Fair Value of Derivative Assets)