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DEBT OBLIGATIONS - Debt Obligations from Continuing Operations (Details)

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DEBT OBLIGATIONS - Debt Obligations from Continuing Operations (Details) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
CDO VI Bonds Payable
Dec. 31, 2012
CDO VI Bonds Payable
Dec. 31, 2013
CDO VIII Bonds Payable
Dec. 31, 2012
CDO VIII Bonds Payable
Dec. 31, 2013
CDO IX Bonds Payable
Dec. 31, 2012
CDO IX Bonds Payable
Dec. 31, 2013
Total CDO Bonds Payable
Dec. 31, 2012
Total CDO Bonds Payable
Dec. 31, 2013
MH Loans Portfolio I Bonds and Notes Payable
Dec. 31, 2012
MH Loans Portfolio I Bonds and Notes Payable
Apr. 15, 2010
MH Loans Portfolio I Bonds and Notes Payable
Dec. 31, 2013
MH Loans Portfolio II Bonds and Notes Payable
Dec. 31, 2012
MH Loans Portfolio II Bonds and Notes Payable
May 04, 2011
MH Loans Portfolio II Bonds and Notes Payable
Dec. 31, 2013
NCT 2013-VI IMM-1
Dec. 31, 2012
NCT 2013-VI IMM-1
Dec. 31, 2013
Total Other Bonds And Notes Payable
Dec. 31, 2012
Total Other Bonds And Notes Payable
Dec. 31, 2013
FNMA/FHLMC Securities Repurchase Agreements
Dec. 31, 2012
FNMA/FHLMC Securities Repurchase Agreements
Dec. 31, 2013
CDO Securities
Dec. 31, 2012
CDO Securities
Dec. 31, 2013
Residential Mortgage Loans
Dec. 31, 2012
Residential Mortgage Loans
Dec. 31, 2013
Total Repurchase Agreements
Dec. 31, 2012
Total Repurchase Agreements
Dec. 31, 2013
Fixed Rate Mortgage Notes Payable
Dec. 31, 2012
Fixed Rate Mortgage Notes Payable
Dec. 31, 2013
Fixed Rate Mortgage Notes Payable
Lower Range
Dec. 31, 2013
Fixed Rate Mortgage Notes Payable
Upper Range
Dec. 31, 2013
Floating Rate Mortgage Notes Payable
Dec. 31, 2012
Floating Rate Mortgage Notes Payable
Dec. 31, 2013
Floating Rate Mortgage Notes Payable
Lower Range
Dec. 31, 2013
Floating Rate Mortgage Notes Payable
Upper Range
Dec. 31, 2013
Total Mortgage Notes Payable
Dec. 31, 2012
Total Mortgage Notes Payable
Dec. 31, 2013
Golf First Lien Loan
Dec. 31, 2012
Golf First Lien Loan
Dec. 31, 2013
Golf Second Lien Loan
Dec. 31, 2012
Golf Second Lien Loan
Dec. 31, 2013
Golf Credit Facilities
Dec. 31, 2012
Golf Credit Facilities
Dec. 31, 2013
Junior Subordinated Debt
Dec. 31, 2012
Junior Subordinated Debt
Dec. 31, 2013
Total Corporate
Dec. 31, 2012
Total Corporate
Dec. 31, 2013
Debt Obligations
Dec. 31, 2012
Debt Obligations
Dec. 31, 2013
Subprime mortgage loans subject to call option
Dec. 31, 2012
Subprime mortgage loans subject to call option
Dec. 31, 2012
Repaid CDO Bonds
Dec. 31, 2012
Total Repaid Repurchase Agreements
Month Issued     Apr 2005 [1]   Nov 2006   May 2007       Apr 2010 [2]     May 2011     Nov 2013 [3]       Dec 2013 [4],[5]   Dec 2013 [3],[4]   Nov 2013 [4]                           Dec 2013 [6]   Dec 2013 [6]       Mar 2006 [6]                  
Debt Face Amount $ 3,030,490 $ 2,786,059 $ 92,018 [1] $ 91,578 [1] $ 264,733 $ 518,501 $ 186,765 $ 400,938 $ 543,516 $ 1,090,915 $ 53,753 [2] $ 70,056 [2] $ 164,100 $ 93,863 $ 117,907 $ 197,000 $ 96,129 [3]    [3] $ 243,745 $ 187,963 $ 516,134 [4],[5] $ 772,855 [4],[5] $ 15,094 [3],[4] $ 5,658 [3],[4] $ 25,119 [4]    [4] $ 556,347 [4] $ 929,435 [4] $ 878,579 $ 88,400     $ 198,584 $ 32,125     $ 1,077,163 $ 120,525 $ 46,922 [6]    $ 105,576 [6]    $ 152,498 [6]    $ 51,004 $ 51,004 $ 51,004 $ 51,004 $ 2,624,273 $ 2,379,842 $ 406,217 [7] $ 406,217 $ 79,898 $ 150,922 [4]
Carrying Value 3,017,931 2,781,761 92,018 [1] 91,578 [1] 264,277 517,541 188,230 402,424 544,525 1,091,354 50,424 [2] 66,199 [2]   93,536 117,191   86,319 [3]    [3] 230,279 183,390 516,134 [4],[5] 772,855 [4],[5] 15,094 [3],[4] 5,658 [3],[4] 25,119 [4]    [4] 556,347 [4] 929,435 [4] 878,244 88,400     198,584 32,125     1,076,828 120,525 46,922 [6]    105,576 [6]    152,498 [6]    51,237 51,243 51,237 51,243 2,611,714 2,375,947 406,217 [7] 405,814 79,811 150,922 [4]
Final Stated Maturity     Apr 2040 [1]   Nov 2052   May 2052       Jul 2035 [2]     Dec 2033     Apr 2040 [3]       Jan 2014 [4],[5]   Jan 2014 [3],[4]   Nov 2014 [4]       Aug 2018 to Jan 2024       Aug 2016 to Dec 2018           Dec 2018 [6]   Dec 2018 [6]       Apr 2035                  
Unhedged Weighted Average Funding Cost - Rate     0.85% [1],[8]   0.88% [8]   0.56% [8]       6.56% [2],[8]     4.70% [8]             0.40% [4],[5],[8]                   1.43% [10],[8],[9] 4.30% [10],[8],[9]                 5.50% [8]       7.57% [11]                  
Unhedged Weighted Average Funding Cost - Basis for Variable Rate                                 LIBOR [3],[8]           LIBOR [3],[4],[8]   LIBOR [4],[8]                   LIBOR LIBOR     LIBOR [12]                              
Unhedged Weighted Average Funding Cost - Spread on Basis for Variable Rate                                 0.25% [3],[8]           1.65% [3],[4],[8]   2.00% [4],[8]                   3.50% [8] 3.75% [8]     4.00% [12]                              
Weighted Average Funding Cost     5.35% [1],[13]   2.45% [13]   0.50% [13]   2.26% [13]   6.56% [13],[2]     4.70% [13]     0.42% [13]   3.50% [13]   0.40% [13],[4],[5]   1.82% [13],[3],[4]   2.17% [13],[4]   0.50% [13],[4]   4.72% [13]       4.88% [13]       4.75% [13]   4.50% [13]   5.50% [13]   5.19% [13]   7.39% [13]   7.39% [13]   3.28% [13]          
Weighted Average Maturity (Years)     5 years 6 months [1]   1 year 6 months   0 years 7 months 6 days   1 year 10 months 24 days   4 years 1 month 6 days [2]     3 years 9 months 18 days     2 years [3]   3 years 1 month 6 days   0 years 1 month 6 days [4],[5]   0 years 1 month 6 days [3],[4]   0 years 10 months 24 days [4]   0 years 1 month 6 days [4]   7 years 4 months 24 days       4 years 1 month 6 days       6 years 9 months 18 days   4 years   4 years   4 years   21 years 3 months 18 days   21 years 3 months 18 days   4 years 2 months 12 days          
Face Amount of Floating Rate Debt     88,727 [1]   257,133   186,765   532,625      [2]            96,129 [3]   96,129   516,134 [4],[5]   15,094 [3],[4]   25,119 [4]   556,347 [4]            198,584       198,584   46,922        46,922             1,430,607          
Outstanding Face Amount of Collateral     166,452 [1],[14]   421,487 [14]   433,012 [14]   1,020,951 [14]   102,681 [14],[2]     128,975 [14]        [14]   231,656 [14]   514,994 [14],[4],[5]      [14],[3],[4]   36,029 [14],[4]   551,023 [14],[4]                                      [14]      [14]   1,803,630 [14]          
Outstanding Face Amount of Collateral                                                         N/A [14]       N/A [14]       N/A [14]   N/A [14]   N/A [14]   N/A [14]                      
Amortized Cost Basis of Collateral     88,965 [1],[14]   317,202 [14]   357,224 [14]   763,391 [14]   91,924 [14],[2]     128,117 [14]        [14]   220,041 [14]   547,639 [14],[4],[5]      [14],[3],[4]   27,173 [14],[4]   574,812 [14],[4]   1,193,583 [14]       270,175 [14]       1,463,758 [14]      [14]      [14]      [14]      [14]      [14]   3,022,002 [14]          
Carrying Value of Collateral     123,478 [1],[14]   346,101 [14]   366,581 [14]   836,160 [14]   91,924 [14],[2]     128,117 [14]        [14]   220,041 [14]   551,270 [14],[4],[5]      [14],[3],[4]   27,173 [14],[4]   578,443 [14],[4]   1,193,583 [14]       270,175 [14]       1,463,758 [14]      [14]      [14]      [14]      [14]      [14]   3,098,402 [14]          
Weighted Average Maturity (Years) Of Collateral     2 years 3 months 18 days [1]   1 year 8 months 12 days   1 year 10 months 24 days   1 year 10 months 24 days   6 years 1 month 6 days [2]     4 years 10 months 24 days     0 years [3]   5 years 4 months 24 days   3 years 7 months 6 days [4],[5]   0 years [3],[4]   5 years 6 months [4]   3 years 8 months 12 days [4]                                           2 years 10 months 24 days          
Weighted Average Maturity (Years) Of Collateral                                                         N/A       N/A       N/A   N/A   N/A   N/A                        
Floating Rate Face Amount of Collateral     40,482 [1],[14]   184,585 [14]   162,115 [14]   387,182 [14]   612 [14],[2]     21,321 [14]        [14],[3]   21,933 [14]   514,994 [14],[4],[5]      [14],[3],[4]   36,029 [14],[4]   551,023 [14],[4]                                             960,138          
Floating Rate Face Amount of Collateral                                                         N/A       N/A       N/A [14]   N/A   N/A   N/A                      
Aggregate Notional Amount of Current Hedges     $ 88,727 [1],[15]   $ 105,031 [15]      [15]   $ 193,758 [15]      [15]        [15]        [15]      [15]      [15],[4],[5]      [15],[3],[4]      [15],[4]      [15],[4]      [15]          [15]          [15]      [15]      [15]      [15]      [15]      [15]   $ 193,758 [15]          
[1] This CDO was not in compliance with its applicable over collateralization tests as of December 31, 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 thisCDO to remain out of compliance for the forseeable future.
[2] Excluding $20.5 million of other bonds payable relating to MH loans Portfolio I sold to certain Newcastle CDOs, which were eliminated in consolidation.
[3] Represents refinancing of repurchased Newcastle CDO bonds where collateral is, therefore, eliminated in consolidation period.
[4] These repurchase agreements had $0.1 million accrued interest payable at December 31, 2013. $556.3 million face amount of these repurchase agreements were renewed subsequent to December 31, 2013. The counterparties on these repurchase agreements are Bank of America ($299.1 million), Barclays ($138.0 million), Citi ($35.6 million), Goldman Sachs ($7.4 million), Nomura ($51.1 million) and Credit Suisse ($25.1 million).
[5] Interest rates on these repurchase agreements are fixed, but will be reset on a short-term basis.
[6] These facilities are collateralized by all the assets of the respective businesses.
[7] LIBOR +2.25% after April 2016.
[8] Weighted average, including floating and fixed rate classes.
[9] For loans totaling $41.2 million issued in August 2013, Newcastle bought down the interest rate to 4% for the first two years. Thereafter, the interest rate will range from 5.99% to 6.76%.
[10] For a loan with a total balance of $11.4 million, the interest rate for the first two years is based on the applicable US Treasury Security rates. The interest rate for years 3 through 5 is 4.5%, 4.75% and 5.0%, respectively.
[11] Issued in April 2006 and July 2007. Secured by the general credit of Newcastle. See Note 7 regarding the securitizations of Subprime Portfolio I and II.
[12] Interest rate on this is based on 3 month LIBOR with a LIBOR floor of 0.5%.
[13] Including the effect of applicable hedges.
[14] Excluding (i) restricted cash held in CDOs to be used for principal and interest payments of CDO debt, and (ii) operating cash from the senior housing business.
[15] Including $88.7 million notional amount of interest rate swap in CDO VI, which was an economic hedge not designed as a hedge for accounting purposes.