Annual report pursuant to Section 13 and 15(d)

REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Subprime Characteristics (Details 9)

v2.4.1.9
REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Subprime Characteristics (Details 9) (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Loan unpaid principal balance (UPB) $ 774,922us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized [1]    
Debt Face Amount 1,318,167us-gaap_DebtInstrumentFaceAmount 1,953,327us-gaap_DebtInstrumentFaceAmount [2] 2,786,059us-gaap_DebtInstrumentFaceAmount
Subprime Portfolio I [Member]      
Loan unpaid principal balance (UPB) 322,723us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		[1],[3] 372,661us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		[4]  
Weighted Average Coupon 5.77%nct_CouponWeightedAverage
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		   
Delinquencies of 60 or more days (UPB) 77,785us-gaap_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritized
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		[5]    
Net credit losses 25,225us-gaap_NetCreditLossOnLoansManagedOrSecuritizedOrAssetbackedFinancingArrangement
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		26,388us-gaap_NetCreditLossOnLoansManagedOrSecuritizedOrAssetbackedFinancingArrangement
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		 
Cumulative net credit losses 272,030nct_SubprimeCumulativeNetCreditLosses
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		   
Cumulative net credit losses as a % of original UPB 18.10%nct_SubprimeNetCreditLossesPercentageOriginalUPB
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		   
Percentage of ARM loans 50.90%nct_SubprimePercentageARMLoans
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		[6]    
Percentage of loans with original loan-to-value ratio >90% 10.40%nct_SubprimePercentageLoansWithHighLoanValueRatio
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		   
Percentage of interest-only loans 2.90%nct_SubprimePercentageInterestOnlyLoans
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		   
Debt Face Amount 318,723us-gaap_DebtInstrumentFaceAmount
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		[7]    
Weighted average funding cost of debt 0.53%nct_SubprimeWeightedAverageFundingCostDebt
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		[8]    
Subprime Portfolio II [Member]      
Loan unpaid principal balance (UPB) 452,199us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		[1],[3] 506,620us-gaap_PrincipalAmountOutstandingOnLoansManagedAndSecuritized
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		[4]  
Weighted Average Coupon 4.67%nct_CouponWeightedAverage
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		   
Delinquencies of 60 or more days (UPB) 158,124us-gaap_DelinquentAmountAtEndOfPeriodOnLoansManagedAndSecuritized
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		[5]    
Net credit losses 34,102us-gaap_NetCreditLossOnLoansManagedOrSecuritizedOrAssetbackedFinancingArrangement
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		44,855us-gaap_NetCreditLossOnLoansManagedOrSecuritizedOrAssetbackedFinancingArrangement
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		 
Cumulative net credit losses 335,676nct_SubprimeCumulativeNetCreditLosses
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		   
Cumulative net credit losses as a % of original UPB 30.90%nct_SubprimeNetCreditLossesPercentageOriginalUPB
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		   
Percentage of ARM loans 63.90%nct_SubprimePercentageARMLoans
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		[6]    
Percentage of loans with original loan-to-value ratio >90% 16.90%nct_SubprimePercentageLoansWithHighLoanValueRatio
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		   
Percentage of interest-only loans 17.20%nct_SubprimePercentageInterestOnlyLoans
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		   
Debt Face Amount $ 452,199us-gaap_DebtInstrumentFaceAmount
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		[7]    
Weighted average funding cost of debt 0.44%nct_SubprimeWeightedAverageFundingCostDebt
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		[8]    
[1] Average loan seasoning of 113 months and 95 months for Subprime Portfolios I and II, respectively, at December 31, 2014.
[2] This CDO was not in compliance with its applicable over collateralization tests as of December 31, 2014. 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 forseeable future.
[3] Audited.
[4] Average loan seasoning of 101 months and 83 months for Subprime Portfolios I and II, respectively, at December 31, 2013.
[5] Delinquencies include loans 60 or more days past due, in foreclosure, under bankruptcy filing or REO.
[6] ARM loans are adjustable-rate mortgage loans. An option ARM is an adjustable-rate mortgage that provides the borrower with an option to choose from several payment amounts each month for a specified period of the loan term. None of the loans in the subprime portfolios are option ARMs.
[7] Excludes face amount of $4.0 million of retained notes for Subprime Portfolio I at December 31, 2014.
[8] Includes the effect of applicable hedges.