Annual report pursuant to Section 13 and 15(d)

REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS (Details Narrative)

v2.4.1.9
REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS (Details Narrative) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 12 Months Ended 24 Months Ended 5 Months Ended 1 Months Ended
Dec. 31, 2014
Sep. 30, 2014
Jun. 30, 2014
Mar. 31, 2014
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
May 31, 2014
Jul. 31, 2014
Face amount of real estate related loans on non-accrual status $ 76,500us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus       $ 76,500us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus       $ 76,500us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus $ 76,500us-gaap_FinancingReceivableRecordedInvestmentNonaccrualStatus          
Federal Income Tax basis 253,500nct_FederalIncomeTaxBasis               253,500nct_FederalIncomeTaxBasis            
Large loan reporting, percentage threshold 3.00%nct_LargeRELoanReportingPercentageThreshold               3.00%nct_LargeRELoanReportingPercentageThreshold            
Large loan reporting, dollar threshold 6,900nct_LargeRELoanReportingDollarThreshold               6,900nct_LargeRELoanReportingDollarThreshold            
Outstanding face amount 328,101us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages               328,101us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages            
Debt repayed                   35,900us-gaap_RepaymentsOfDebt 39,300us-gaap_RepaymentsOfDebt 188,900us-gaap_RepaymentsOfDebt 787,800us-gaap_RepaymentsOfDebt    
Annual servicing fee, as a percentage of unpaid principal balances 0.50%nct_ServicingFee               0.50%nct_ServicingFee            
Interest income 23,738us-gaap_InterestAndDividendIncomeOperating [1] 27,544us-gaap_InterestAndDividendIncomeOperating [2] 29,893us-gaap_InterestAndDividendIncomeOperating [2] 46,452us-gaap_InterestAndDividendIncomeOperating [2],[3] 42,072us-gaap_InterestAndDividendIncomeOperating 47,484us-gaap_InterestAndDividendIncomeOperating [3] 62,824us-gaap_InterestAndDividendIncomeOperating [3] 61,332us-gaap_InterestAndDividendIncomeOperating [3] 127,627us-gaap_InterestAndDividendIncomeOperating 213,712us-gaap_InterestAndDividendIncomeOperating 282,951us-gaap_InterestAndDividendIncomeOperating        
Weighted Average Yield of Retained Bonds 22.40%nct_WeightedAverageYieldRetainedBonds               22.40%nct_WeightedAverageYieldRetainedBonds            
CDOs [Member]                              
Debt repayed                   20,500us-gaap_RepaymentsOfDebt
/ us-gaap_StatementBusinessSegmentsAxis
= nct_CollateralizedLoanObligationsSegmentMember 		         
Interest income                 84,938us-gaap_InterestAndDividendIncomeOperating
/ us-gaap_StatementBusinessSegmentsAxis
= nct_CollateralizedLoanObligationsSegmentMember 		[4] 119,292us-gaap_InterestAndDividendIncomeOperating
/ us-gaap_StatementBusinessSegmentsAxis
= nct_CollateralizedLoanObligationsSegmentMember 		[4] 197,007us-gaap_InterestAndDividendIncomeOperating
/ us-gaap_StatementBusinessSegmentsAxis
= nct_CollateralizedLoanObligationsSegmentMember 		[4]        
Individual Bank Loan 1 [Member]                              
Cash received subsequent to period end 83,300nct_CashReceivedSubsequentToPeriodEnd
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_BankLoanObligations1Member 		              83,300nct_CashReceivedSubsequentToPeriodEnd
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_BankLoanObligations1Member 		           
Face value subsequent to period end 99,400nct_FaceValueSubsequentToPeriodEnd
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_BankLoanObligations1Member 		              99,400nct_FaceValueSubsequentToPeriodEnd
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_BankLoanObligations1Member 		           
Outstanding face amount 116,048us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_BankLoanObligations1Member 		[5]               116,048us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_BankLoanObligations1Member 		[5]            
Others [Member]                              
Large Loans reporting in the other category - Bank Loans Face Amount 46,700nct_LargeLoansReportingOtherBankLoans
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= us-gaap_FinanceReceivablesMember 		              46,700nct_LargeLoansReportingOtherBankLoans
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= us-gaap_FinanceReceivablesMember 		           
Large Loans reporting in the other category - Mezzanine Loans Face Amount 29,800nct_LargeLoansReportingOtherMezzanineLoans
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= us-gaap_FinanceReceivablesMember 		              29,800nct_LargeLoansReportingOtherMezzanineLoans
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= us-gaap_FinanceReceivablesMember 		           
Large Loans reporting in the other category - Whole Loans Face Amount 100nct_LargeLoansReportingOtherWholeLoans
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= us-gaap_FinanceReceivablesMember 		              100nct_LargeLoansReportingOtherWholeLoans
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= us-gaap_FinanceReceivablesMember 		           
Outstanding face amount 76,607us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= us-gaap_FinanceReceivablesMember 		[6]               76,607us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= us-gaap_FinanceReceivablesMember 		[6]            
Securitized Manufacturing Housing Loan Portfolio [Member]                              
Outstanding face amount                           222,200us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SecuritizedManufacturingHousingLoanPortfolioMember 		 
Loan percentage against par                           104.00%nct_LoanPercentageAgainstPar
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SecuritizedManufacturingHousingLoanPortfolioMember 		 
Proceeds from sale of loan portfolio                           231,600us-gaap_ProceedsFromSaleOfLoansReceivable
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SecuritizedManufacturingHousingLoanPortfolioMember 		 
Debt repayed                           132,400us-gaap_RepaymentsOfDebt
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SecuritizedManufacturingHousingLoanPortfolioMember 		 
Gross gain on sale of loans                           24,700us-gaap_GainLossOnSaleOfMortgageLoans
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SecuritizedManufacturingHousingLoanPortfolioMember 		 
Net gain on sale of loans                           19,400us-gaap_GainLossOnSalesOfLoansNet
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SecuritizedManufacturingHousingLoanPortfolioMember 		 
Deal/transaction expenses                           1,900nct_SaleOfLoansAndLeasesDealExpenses
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SecuritizedManufacturingHousingLoanPortfolioMember 		 
Write off of unamortized discount on debt                           3,400nct_WriteOffOfUnamortizedDiscountOnDebt
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SecuritizedManufacturingHousingLoanPortfolioMember 		 
Residential Whole Loans [Member]                              
Outstanding face amount                             37,400us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialWholeLoansMember
Loan percentage against par                             91.50%nct_LoanPercentageAgainstPar
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialWholeLoansMember
Proceeds from sale of loan portfolio                             34,700us-gaap_ProceedsFromSaleOfLoansReceivable
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialWholeLoansMember
Debt repayed                             23,000us-gaap_RepaymentsOfDebt
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialWholeLoansMember
Net gain on sale of loans                             7,800us-gaap_GainLossOnSalesOfLoansNet
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialWholeLoansMember
Deal/transaction expenses                             1,100nct_SaleOfLoansAndLeasesDealExpenses
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialWholeLoansMember
Subprime Portfolio I [Member]                              
Average loan seasoning                 9 years 20 months 2 days            
Percentage of aggregate principal balance for redemption of option 20.00%nct_DebtPrincipalAmountPercentageForRedemptionOption
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		              20.00%nct_DebtPrincipalAmountPercentageForRedemptionOption
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		           
Retained Notes excluded from face amount of debt in Subprime Portfolio I 4,000nct_RetainedBondsFaceAmount2006SecuritizationTrust
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		              4,000nct_RetainedBondsFaceAmount2006SecuritizationTrust
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		           
Weighted average coupon rate 9.24%nct_WeightedAverageCouponSubprimeSubjectToCallOption
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		              9.24%nct_WeightedAverageCouponSubprimeSubjectToCallOption
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIMember 		           
Subprime Portfolio II [Member]                              
Average loan seasoning                 7 years 8 months 2 days            
Percentage of aggregate principal balance for redemption of option 10.00%nct_DebtPrincipalAmountPercentageForRedemptionOption
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		              10.00%nct_DebtPrincipalAmountPercentageForRedemptionOption
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		           
Weighted average coupon rate 8.68%nct_WeightedAverageCouponSubprimeSubjectToCallOption
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		              8.68%nct_WeightedAverageCouponSubprimeSubjectToCallOption
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_SubprimePortfolioIIMember 		           
Total Real Estate Related and Other Loans Held for Sale                              
Interest income                 49,300us-gaap_InterestAndDividendIncomeOperating
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_TotalRealEstateRelatedAndOtherLoansHeldForSaleMember 		81,500us-gaap_InterestAndDividendIncomeOperating
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_TotalRealEstateRelatedAndOtherLoansHeldForSaleMember 		81,500us-gaap_InterestAndDividendIncomeOperating
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_TotalRealEstateRelatedAndOtherLoansHeldForSaleMember 		       
Total Real Estate Related and Other Loans Held-for-Sale, Net [Member]                              
Outstanding face amount 328,101us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_RealEstateRelatedAndOtherLoansHeldForSaleMember 		              328,101us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_RealEstateRelatedAndOtherLoansHeldForSaleMember 		           
Average Carrying Value 270,100nct_LoansAndLeasesReceivableNetReportedAmount1
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_RealEstateRelatedAndOtherLoansHeldForSaleMember 		      761,700nct_LoansAndLeasesReceivableNetReportedAmount1
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_RealEstateRelatedAndOtherLoansHeldForSaleMember 		      270,100nct_LoansAndLeasesReceivableNetReportedAmount1
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_RealEstateRelatedAndOtherLoansHeldForSaleMember 		761,700nct_LoansAndLeasesReceivableNetReportedAmount1
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_RealEstateRelatedAndOtherLoansHeldForSaleMember 		843,400nct_LoansAndLeasesReceivableNetReportedAmount1
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_RealEstateRelatedAndOtherLoansHeldForSaleMember 		       
Total Residential Mortgage Loans [Member]                              
Outstanding face amount 4,309us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialMortgageLoansMember 		              4,309us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialMortgageLoansMember 		           
Average Carrying Value 90,500nct_LoansAndLeasesReceivableNetReportedAmount1
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialMortgageLoansMember 		      282,700nct_LoansAndLeasesReceivableNetReportedAmount1
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialMortgageLoansMember 		      90,500nct_LoansAndLeasesReceivableNetReportedAmount1
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialMortgageLoansMember 		282,700nct_LoansAndLeasesReceivableNetReportedAmount1
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialMortgageLoansMember 		312,500nct_LoansAndLeasesReceivableNetReportedAmount1
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialMortgageLoansMember 		       
Interest income                 $ 8,300us-gaap_InterestAndDividendIncomeOperating
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialMortgageLoansMember 		$ 27,300us-gaap_InterestAndDividendIncomeOperating
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialMortgageLoansMember 		$ 31,600us-gaap_InterestAndDividendIncomeOperating
/ us-gaap_FinancingReceivableRecordedInvestmentByClassOfFinancingReceivableAxis
= nct_ResidentialMortgageLoansMember 		       
[1] The options outstanding were excluded from the diluted share calculation as their effect would have been anti-dilutive.
[2] Including equity in earnings of unconsolidated subsidiaries.
[3] The Income Available for Common Stockholders shown agrees with Newcastle's quarterly report(s) on Form 10-Q as filed with the Securities and Exchange Commission. However, individual line items may vary from such report(s) due to the operations of properties sold, or classified as held for sale, during subsequent periods being retroactively reclassified to Income for Discontinued Operations for all periods presented (Note 3).
[4] Assets held within non-recourse structures, including all of the assets in the senior housing and CDO segments, are not available to satisfy obligations outside of such financings, except to the extent net cash flow distributions are received from such structures. Furthermore, creditors or beneficial interest holders of these structures generally have no recourse to the general credit of Newcastle. Therefore, the exposure to the economic losses from such structures generally is limited to invested equity in them and economically their book value cannot be less than zero. Therefore, impairment recorded in excess of Newcastle?s investment, which results in negative GAAP book value for a given non-recourse financing structure, cannot economically be incurred and will eventually be reversed through amortization, sales at gains, or as gains at the deconsolidation or termination of such non-recourse financing structure.
[5] Interest only payments over life to maturity and balloon principal payment upon maturity.
[6] Various terms of payment. This represents $46.7 million, $29.8 million and $0.1 million of bank loans, mezzanine loans and whole loans, respectively. Each of the seven loans had a carrying value of less than $6.9 million at December 31, 2014.