Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS (Details)

v2.4.0.8
DEBT OBLIGATIONS (Details) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2013
CDO VI Bonds Payable
Sep. 30, 2013
CDO VIII Bonds Payable
Sep. 30, 2013
CDO IX Bonds Payable
Jun. 30, 2013
Total CDO Bonds Payable
Sep. 30, 2013
Total CDO Bonds Payable
Sep. 30, 2013
MH Loans Portfolio I Bonds and Notes Payable
Sep. 30, 2013
MH Loans Portfolio II Bonds and Notes Payable
Sep. 30, 2013
Total Other Bonds And Notes Payable
Sep. 30, 2013
FNMA/FHLMC Securities
Sep. 30, 2013
CDO IX Class A-2 Repurchase Agreements
Sep. 30, 2013
Total Repurchase Agreements
Sep. 30, 2013
BPM Senior Living Facilities
Sep. 30, 2013
Utah Senior Living Facilities
Sep. 30, 2013
Courtyards Senior Living Facilities
Sep. 30, 2013
Woodside Senior Living Facilities
Sep. 30, 2013
Florida Facilities - GE Financing
Sep. 30, 2013
Florida Facilities - Freddie Mac Financing
Sep. 30, 2013
Florida Facilities - Seller Financing
Sep. 30, 2013
Glen Riddle Senior Living Facilities
Sep. 30, 2013
Royal Palm Senior Living Facilities
Sep. 30, 2013
Schenley Gardens Senior Living Facilities
Sep. 30, 2013
Total Mortgage Notes Payable
Sep. 30, 2013
Junior Subordinated Debt
Sep. 30, 2013
Total Corporate
Sep. 30, 2013
Debt Securities Payable
Sep. 30, 2013
Subprime mortgage loans subject to call option
Month Issued   Apr 2005 [1] Nov 2006 May 2007     Apr 2010 [2] May 2011   Sep 2013 [3],[4] Sep 2013 [3]   Jul 2012 Nov 2012 Dec 2012 Jul 2013 Aug 2013 Aug 2013 Aug 2013 Aug 2013 Sep 2013 Sep 2013   Mar 2006      
Debt Face Amount $ 2,048,232 $ 91,908 [1] $ 344,953 $ 280,647   $ 717,508 $ 57,684 [2] $ 99,979 $ 157,663 $ 361,836 [3],[4] $ 15,050 [3] $ 376,886 [3] $ 107,007 $ 16,000 $ 16,125 $ 14,100 $ 93,521 $ 41,394 $ 11,432 $ 16,875 $ 14,250 $ 8,250 $ 338,954 $ 51,004 $ 51,004 $ 1,642,015 $ 406,217 [5]
Carrying Value 2,043,851 91,908 [1] 344,351 282,214   718,473 54,230 [2] 99,568 153,798 361,836 [3],[4] 15,050 [3] 376,886 [3] 107,007 16,000 16,125 14,100 93,521 39,678 9,432 16,875 14,250 8,250 337,238 51,239 51,239 1,637,634 406,217 [5]
Final Stated Maturity   Apr 2040 [1] Nov 2052 May 2052     Jul 2035 [2] Dec 2033   Oct 2013 [3],[4] Oct 2013 [3]   Sep 2019 Oct 2017 Oct 2017 Aug 2016 Jul 2018 Apr 2020 Apr 2030 Oct 2017 Jul 2018 Oct 2017   Apr 2035      
Unhedged Weighted Average Funding Cost - Rate   0.85% [1],[6] 0.88% [6] 0.56% [6]     6.47% [2],[6] 4.61% [6]   0.38% [3],[4],[6]     4.12% [6]         4.00% [6],[7] 1.68% [6],[8]         7.574% [6],[9]      
Unhedged Weighted Average Funding Cost - Basis for Variable Rate                     LIBOR [3],[6]     LIBOR [10],[6] LIBOR [10],[6] LIBOR [10],[6] LIBOR [10],[6]     LIBOR [10],[6] LIBOR [10],[6] LIBOR [10],[6]          
Unhedged Weighted Average Funding Cost - Spread on Basis for Variable Rate                     1.65% [3],[6]     3.75% [10],[6] 3.75% [10],[6] 3.75% [10],[6] 3.75% [10],[6]     3.75% [10],[6] 3.75% [10],[6] 3.75% [10],[6]          
Weighted Average Funding Cost   5.35% [1],[11] 2.37% [11] 0.53% [11]   2.03% [11] 6.47% [11],[2] 4.61% [11] 5.27% [11] 0.38% [11],[3],[4] 1.83% [11],[3] 0.44% [11],[3] 4.42% [11] 5.15% [11] 5.06% [11] 4.58% [11] 5.00% [11] 4.90% [11] 1.68% [11] 5.01% [11] 4.99% [11] 5.04% [11] 4.70% [11] 7.39% [11] 7.39% [11] 2.68% [11]  
Weighted Average Maturity (Years)   5 years 8 months 12 days [1] 1 year 3 months 18 days 0 years 6 months 1 year 7 months 6 days   4 years 1 month 6 days [2] 3 years 9 months 18 days 3 years 10 months 24 days 0 years 1 month 6 days [3],[4] 0 years 1 month 6 days [3] 0 years 1 month 6 days [3] 5 years 7 months 6 days 4 years 4 years 2 years 9 months 18 days 4 years 9 months 18 days 5 years 3 months 18 days 4 years 9 months 18 days 4 years 4 years 9 months 18 days 4 years 4 years 10 months 24 days 21 years 7 months 6 days 21 years 7 months 6 days 2 years 9 months 18 days  
Face Amount of Floating Rate Debt   88,671 [1] 337,353 280,647   706,671    [2]       361,836 [3],[4] 15,050 [3] 376,886 [3]    16,000 16,125 14,100 93,521    11,432 16,875 14,250 8,250 190,553       1,274,110  
Outstanding Face Amount of Collateral   170,592 [1],[12] 547,236 [12] 557,946 [12]   1,275,774 [12] 106,304 [12],[2] 134,641 [12] 240,945 [12] 362,484 [12],[3],[4]    [12],[3] 362,484 [12],[3]                    [12]        [12]    [12] 1,879,203 [12]  
Outstanding Face Amount of Collateral                         N/A [12] N/A [12] N/A [12] N/A [12] N/A [12] N/A [12] N/A [12] N/A [12] N/A [12] N/A [12] N/A [12]        
Amortized Cost Basis of Collateral   90,638 [1],[12] 387,615 [12] 433,394 [12]   911,647 [12] 91,488 [12],[2] 132,728 [12] 224,216 [12] 386,640 [12],[3],[4]    [12],[3] 386,640 [12],[3] 129,767 [12] 21,059 [12] 20,179 [12] 18,667 [12] 127,966 [12] 69,145 [12]    [12] 21,899 [12] 18,644 [12] 16,454 [12] 443,780 [12]    [12]    [12] 1,966,283 [12]  
Carrying Value of Collateral   125,464 [1],[12] 417,192 [12] 442,687 [12]   985,343 [12] 91,488 [12],[2] 132,728 [12] 224,216 [12] 387,608 [12],[3],[4]    [12],[3] 387,608 [12],[3] 129,767 [12] 21,059 [12] 20,179 [12] 18,667 [12] 127,966 [12] 69,145 [12]    [12] 21,899 [12] 18,644 [12] 16,454 [12] 443,780 [12]    [12]    [12] 2,040,947 [12]  
Weighted Average Maturity (Years) Of Collateral   3 years [1] 2 years 3 months 18 days 2 years 6 months 2 years 6 months   6 years 1 month 6 days [2] 4 years 10 months 24 days 5 years 6 months 3 years 8 months 12 days [3],[4]   3 years 8 months 12 days [3]                           3 years 1 month 6 days  
Weighted Average Maturity (Years) Of Collateral                         N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A N/A        
Floating Rate Face Amount of Collateral   42,323 [1],[12] 306,024 [12] 290,976 [12]   639,323 [12] 670 [12],[2] 22,104 [12] 22,774 [12] 362,484 [12],[3],[4]    [12],[3] 362,484 [12],[3]    [12]    [12]    [12]    [12]    [12]    [12]    [12]    [12]    [12]    [12]    [12]    [12]    [12] 1,024,581 [12]  
Aggregate Notional Amount of Current Hedges   $ 88,671 [1],[13] $ 105,393 [13]    [13]   $ 194,064 [13]    [13],[2]    [13]    [13]    [13],[3],[4]    [13],[3]    [13],[3]    [13]    [13]    [13]    [13]    [13]    [13]    [13]    [13]    [13]    [13]    [13]    [13]    [13] $ 194,064 [13]  
[1] (E) This CDO was not in compliance with its applicable over collateralization tests as of September 30, 2013. Newcastle is not receiving cash flows from this CDO (other than senior management fees and cash flows on senior classes of bonds that were repurchased), since net interest is being used to repay debt, and expects this CDO to remain out of compliance for the foreseeable future.
[2] (F) Excluding $20.5 million face amount of other bonds payable relating to MH loans Portfolio I sold to certain Newcastle CDOs, which were eliminated in consolidation.
[3] (G) These repurchase agreements had $0.05 million of associated accrued interest payable at September 30, 2013. $376.9 million face amount of these repurchase agreements were renewed subsequent to September 30, 2013. The counterparties on these repurchase agreements are Bank of America ($262.4 million), Barclays ($18.5 million), Citi ($38.4 million), Goldman Sachs ($9.8 million) and Nomura ($47.8 million).
[4] (H) Interest rates on these repurchase agreements are fixed, but will be reset on a short-term basis.
[5] (M) Issued in April 2006 and July 2007. See Note 6 regarding the securitizations of Subprime Portfolios I and II.
[6] (A) Weighted average, including floating and fixed rate classes and including the amortization of deferred financing costs.
[7] (J) Upon assuming these loans, Newcastle bought down the interest rate to 4% for the first two years. The interest rate will be fixed, ranging from 5.99% to 6.76% for the remaining term.
[8] (K) The interest rate for the first two years is based on applicable US Treasury Security rates. The interest rate for years 3 through 5 is 4.5%, 4.75% and 5.0%, respectively.
[9] (L) LIBOR + 2.25% after April 2016.
[10] (I) These financings are with GE and are split between two separate credit facilities. Utah, Courtyards, Glen Riddle and Schenley Gardens share one credit facility and Florida and Royal Palm share a separate credit facility. These financings have a LIBOR floor of 1%.
[11] (B) Including the effect of applicable hedges.
[12] (C) Excluding (i) restricted cash held in CDOs to be used for principal and interest payments of CDO debt, and (ii) operating cash in senior housing entities.
[13] (D) Including a $88.7 million notional amount of interest rate swap agreement in CDO VI, which was an economic hedge not designated as a hedge for accounting purposes.