Annual report pursuant to Section 13 and 15(d)

REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Large Loans (Details 1)

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REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Large Loans (Details 1) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2013
Integer
Dec. 31, 2012
Integer
Number of Investments 165 229
Weighted Average Yield 5.44% 4.69%
Weighted Average Coupon 3.65% 3.04%
Weighted Average Maturity (Years) 2 years 10 months 24 days [1] 4 years [1]
Individual Bank Loan
    
Outstanding Face Amount $ 185,579 [2]  
Carrying Value 155,579 [2]  
Prior Liens 573,000 [2],[3]  
Number of Investments 1 [2]  
Weighted Average Yield 24.90% [2]  
Weighted Average Coupon 15.55% [2]  
Weighted Average Maturity (Years) 0 years 7 months 6 days [2]  
Individual B-Note Loan
    
Outstanding Face Amount 52,169 [4]  
Carrying Value 49,236 [4]  
Prior Liens 2,013,921 [3],[4]  
Number of Investments 1 [4]  
Weighted Average Yield 12.00% [4]  
Weighted Average Coupon 3.04% [4]  
Weighted Average Maturity (Years) 0 years 9 months 18 days [4]  
Individual Mezzanine Loan
    
Outstanding Face Amount 36,016 [4]  
Carrying Value 34,395 [4]  
Prior Liens 742,473 [3],[4]  
Number of Investments 1 [4]  
Weighted Average Yield 7.00% [4]  
Weighted Average Coupon 7.00% [4]  
Weighted Average Maturity (Years) 1 year 3 months 18 days [4]  
Individual Whole Loan
    
Outstanding Face Amount 29,117 [5]  
Carrying Value 29,117 [5]  
Prior Liens    [3],[5]  
Number of Investments 1 [5]  
Weighted Average Yield 3.65% [5]  
Weighted Average Coupon 3.65% [5]  
Weighted Average Maturity (Years) 0 years [5]  
Individual Mezzanine Loan
    
Outstanding Face Amount 28,939 [4]  
Carrying Value 28,939 [4]  
Prior Liens 169,933 [3],[4]  
Number of Investments 1 [4]  
Weighted Average Yield 7.00% [4]  
Weighted Average Coupon 8.00% [4]  
Weighted Average Maturity (Years) 0 years 7 months 6 days [4]  
Individual Mezzanine Loan
    
Outstanding Face Amount 24,581 [4]  
Carrying Value 24,581 [4]  
Prior Liens 311,649 [3],[4]  
Number of Investments 1 [4]  
Weighted Average Yield 9.00% [4]  
Weighted Average Coupon 9.00% [4]  
Weighted Average Maturity (Years) 3 years 3 months 18 days [4]  
Individual Mezzanine Loan
    
Outstanding Face Amount 24,500 [4]  
Carrying Value 24,500 [4]  
Prior Liens 75,000 [3],[4]  
Number of Investments 1 [4]  
Weighted Average Yield 6.00% [4]  
Weighted Average Coupon 8.17% [4]  
Weighted Average Maturity (Years) 0 years 10 months 24 days [4]  
Individual B-Note Loan
    
Outstanding Face Amount 21,500 [4]  
Carrying Value 21,500 [4]  
Prior Liens 36,000 [3],[4]  
Number of Investments 1 [4]  
Weighted Average Yield 7.00% [4]  
Weighted Average Coupon 8.48% [4]  
Weighted Average Maturity (Years) 0 years 3 months 18 days [4]  
Individual B-Note Loan
    
Outstanding Face Amount 22,629 [4]  
Carrying Value 18,795 [4]  
Prior Liens 128,897 [3],[4]  
Number of Investments 1 [4]  
Weighted Average Yield 12.00% [4]  
Weighted Average Coupon 7.32% [4]  
Weighted Average Maturity (Years) 5 years [4]  
Individual Mezzanine Loan
    
Outstanding Face Amount 14,205 [6]  
Carrying Value 14,205 [6]  
Number of Investments 1 [6]  
Weighted Average Yield 3.42% [6]  
Weighted Average Coupon 3.31% [6]  
Weighted Average Maturity (Years) 0 years [6]  
Others
    
Outstanding Face Amount 128,594 [7]  
Carrying Value 36,683 [7]  
Number of Investments 10 [7]  
Weighted Average Yield 7.73% [7],[8]  
Weighted Average Coupon 6.85% [7],[8]  
Weighted Average Maturity (Years) 1 year 4 months 24 days [7]  
Total Large Loans
    
Outstanding Face Amount 567,829  
Carrying Value $ 437,530  
Number of Investments 20  
Weighted Average Yield 13.92%  
Weighted Average Coupon 9.39%  
Weighted Average Maturity (Years) 1 year 1 month 6 days  
[1] The weighted average maturity is based on the timing of expected principal reduction on the assets.
[2] Interest accrued to principal balance over life to maturity with a discounted payoff option prior to April 2015. Following a public offering by the debt issuer in January 2014, Newcastle received cash of $83.3 million, which reduced the face of the loan to $99.4 million.
[3] Represents face amount of third party liens that are senior to Newcastle's position.
[4] Interest only payments over life to maturity and balloon principal payment upon maturity.
[5] Interest only payments over life to maturity with a discounted payoff option prior to April 2014. The borrower repaid the financing and received the discount in January 2014.
[6] The borrower repaid the financing in January 2014.
[7] Various terms of payment. This represents $71.0 million, $44.0 million, $13.0 million and $0.6 million face amounts of bank loans, mezzanine loans, B-notes and whole loans, respectively. Each of the ten loans had a carrying value of less than $13.1 million at December 31, 2013.
[8] For others, represents weighted average yield and weighted average coupon.