Annual report pursuant to Section 13 and 15(d)

REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS, SUBPRIME MORTGAGE LOANS - Subprime Details (Details 7)

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REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS, SUBPRIME MORTGAGE LOANS - Subprime Details (Details 7) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Integer
Subprime Portfolio I
  
Date of acquisition March 2006
Original number of loans (approximate) 11,300
Predominant origination date of loans 2005
Original face amount of purchase $ 1,500,000
Pre-securitization loan write-down (4,100)
Gain on pre-securitization hedge 5,500
Gain on sale Less than $0.1 million
Securitization Date April 2006
Face amount of loans at securitization 1,500,000
Face amount of notes sold by trust 1,400,000
Stated maturity of notes March 2036
Face amount of notes retained by Newcastle 37,600
Fair value of equity retained by Newcastle 62,400
Key assumptions in measuring such fair value (A)  
Weighted average life (years) 3 years 1 month 6 days [1]
Expected credit losses 5.30% [1]
Weighted average constant prepayment rate 28.00% [1]
Discount rate 18.80% [1]
Subprime Portfolio II
  
Date of acquisition March 2007
Original number of loans (approximate) 7,300
Predominant origination date of loans 2006
Original face amount of purchase 1,300,000
Pre-securitization loan write-down (5,800)
Gain on pre-securitization hedge 5,800
Gain on sale $0.1 million
Securitization Date July 2007
Face amount of loans at securitization 1,100,000
Face amount of notes sold by trust 1,000,000
Stated maturity of notes April 2037
Face amount of notes retained by Newcastle 38,800
Fair value of equity retained by Newcastle $ 46,700
Key assumptions in measuring such fair value (A)  
Weighted average life (years) 3 years 9 months 18 days [1]
Expected credit losses 8.00% [1]
Weighted average constant prepayment rate 30.10% [1]
Discount rate 22.50% [1]
[1] As of the date of transfer.