Annual report pursuant to Section 13 and 15(d)

FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying Values and Estimated Fair Value (Details)

v2.4.1.9
FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying Values and Estimated Fair Value (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Financial Instruments        
Real estate securities, available-for-sale $ 231,754us-gaap_AvailableForSaleSecuritiesDebtSecurities $ 432,993us-gaap_AvailableForSaleSecuritiesDebtSecurities    
Real estate securities, pledged as collateral 407,689us-gaap_PledgedAssetsSeparatelyReportedMortgageRelatedSecuritiesAvailableForSaleOrHeldForInvestment 551,270us-gaap_PledgedAssetsSeparatelyReportedMortgageRelatedSecuritiesAvailableForSaleOrHeldForInvestment    
Real estate related and other loans, held-for-sale, net 230,200us-gaap_LoansHeldForSaleCommercialRealEstate 437,530us-gaap_LoansHeldForSaleCommercialRealEstate    
Residential mortgage loans, held-for-investment, net   255,450us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer    
Residential mortgage loans, held-for-sale, net 3,854us-gaap_LoansHeldForSaleMortgages 2,185us-gaap_LoansHeldForSaleMortgages    
Subprime mortgage loans subject to call option 406,217nct_SubprimeMortgageLoansSubjectToCallOption 406,217nct_SubprimeMortgageLoansSubjectToCallOption    
Restricted cash 15,714us-gaap_RestrictedCashAndCashEquivalents 5,856us-gaap_RestrictedCashAndCashEquivalents    
Cash and cash equivalents 73,727us-gaap_CashAndCashEquivalentsAtCarryingValue 42,721us-gaap_CashAndCashEquivalentsAtCarryingValue 221,798us-gaap_CashAndCashEquivalentsAtCarryingValue 156,334us-gaap_CashAndCashEquivalentsAtCarryingValue
Non-hedge derivative assets   43,662us-gaap_DerivativeAssets    
Financial Instruments        
CDO bonds payable 227,673us-gaap_SecuredDebt 544,525us-gaap_SecuredDebt    
Other bonds and notes payable 27,069us-gaap_OtherLongTermDebt 230,279us-gaap_OtherLongTermDebt    
Repurchase agreements 441,176us-gaap_SecuritiesSoldUnderAgreementsToRepurchase 556,347us-gaap_SecuritiesSoldUnderAgreementsToRepurchase 929,435us-gaap_SecuritiesSoldUnderAgreementsToRepurchase  
Credit facilities and obligations under capital leases, golf 161,857us-gaap_DebtAndCapitalLeaseObligations 152,498us-gaap_DebtAndCapitalLeaseObligations    
Financing of subprime mortgage loans subject to call option 406,217nct_FinancingOfSubprimeMortgageLoansSubjectToCallOption 406,217nct_FinancingOfSubprimeMortgageLoansSubjectToCallOption    
Junior subordinated notes payable 51,231us-gaap_JuniorSubordinatedNotes 51,237us-gaap_JuniorSubordinatedNotes    
Carrying Value [Member]        
Financial Instruments        
Real estate securities, available-for-sale 231,754us-gaap_AvailableForSaleSecuritiesDebtSecurities
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[1],[2] 432,933us-gaap_AvailableForSaleSecuritiesDebtSecurities
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		   
Real estate securities, pledged as collateral 407,689us-gaap_PledgedAssetsSeparatelyReportedMortgageRelatedSecuritiesAvailableForSaleOrHeldForInvestment
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		551,270us-gaap_PledgedAssetsSeparatelyReportedMortgageRelatedSecuritiesAvailableForSaleOrHeldForInvestment
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		   
Real estate related and other loans, held-for-sale, net 230,200us-gaap_LoansHeldForSaleCommercialRealEstate
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		437,530us-gaap_LoansHeldForSaleCommercialRealEstate
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		   
Residential mortgage loans, held-for-investment, net   255,450us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		   
Residential mortgage loans, held-for-sale, net 3,854us-gaap_LoansHeldForSaleMortgages
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		2,185us-gaap_LoansHeldForSaleMortgages
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		   
Subprime mortgage loans subject to call option 406,217nct_SubprimeMortgageLoansSubjectToCallOption
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[3] 406,217nct_SubprimeMortgageLoansSubjectToCallOption
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[3]    
Restricted cash 15,714us-gaap_RestrictedCashAndCashEquivalents
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[4] 5,856us-gaap_RestrictedCashAndCashEquivalents
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		   
Cash and cash equivalents 73,727us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[4] 42,721us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		   
Non-hedge derivative assets   43,662us-gaap_DerivativeAssets
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[5]    
Financial Instruments        
CDO bonds payable 227,673us-gaap_SecuredDebt
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[6] 544,525us-gaap_SecuredDebt
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[6]    
Other bonds and notes payable 27,069us-gaap_OtherLongTermDebt
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[6] 230,279us-gaap_OtherLongTermDebt
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[6]    
Repurchase agreements 441,176us-gaap_SecuritiesSoldUnderAgreementsToRepurchase
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		556,347us-gaap_SecuritiesSoldUnderAgreementsToRepurchase
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		   
Credit facilities and obligations under capital leases, golf 161,857us-gaap_DebtAndCapitalLeaseObligations
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		152,498us-gaap_DebtAndCapitalLeaseObligations
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		   
Financing of subprime mortgage loans subject to call option 406,217nct_FinancingOfSubprimeMortgageLoansSubjectToCallOption
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[3] 406,217nct_FinancingOfSubprimeMortgageLoansSubjectToCallOption
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[3]    
Junior subordinated notes payable 51,231us-gaap_JuniorSubordinatedNotes
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		51,237us-gaap_JuniorSubordinatedNotes
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		   
Interest rate swaps, treated as hedges 1,963us-gaap_CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[5] 6,203us-gaap_CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[5]    
Non-hedge derivatives 2,365us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsLiabilitiesAtFairValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[5] 7,592us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsLiabilitiesAtFairValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember 		[5]    
Estimated Fair Value [Member]        
Financial Instruments        
Real estate securities, available-for-sale 231,754us-gaap_AvailableForSaleSecuritiesDebtSecurities
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[1],[2] 432,933us-gaap_AvailableForSaleSecuritiesDebtSecurities
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		   
Real estate securities, pledged as collateral 407,689us-gaap_PledgedAssetsSeparatelyReportedMortgageRelatedSecuritiesAvailableForSaleOrHeldForInvestment
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		551,270us-gaap_PledgedAssetsSeparatelyReportedMortgageRelatedSecuritiesAvailableForSaleOrHeldForInvestment
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		   
Real estate related and other loans, held-for-sale, net 246,678us-gaap_LoansHeldForSaleCommercialRealEstate
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		456,535us-gaap_LoansHeldForSaleCommercialRealEstate
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		   
Residential mortgage loans, held-for-investment, net   252,039us-gaap_LoansAndLeasesReceivableNetReportedAmountConsumer
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		   
Residential mortgage loans, held-for-sale, net 4,076us-gaap_LoansHeldForSaleMortgages
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		2,185us-gaap_LoansHeldForSaleMortgages
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		   
Subprime mortgage loans subject to call option 406,217nct_SubprimeMortgageLoansSubjectToCallOption
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[3] 406,217nct_SubprimeMortgageLoansSubjectToCallOption
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[3]    
Restricted cash 15,714us-gaap_RestrictedCashAndCashEquivalents
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[4] 5,856us-gaap_RestrictedCashAndCashEquivalents
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		   
Cash and cash equivalents 73,727us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[4] 42,721us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		   
Non-hedge derivative assets   43,662us-gaap_DerivativeAssets
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[5]    
Financial Instruments        
CDO bonds payable 134,491us-gaap_SecuredDebt
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[6] 395,689us-gaap_SecuredDebt
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[6]    
Other bonds and notes payable 28,102us-gaap_OtherLongTermDebt
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[6] 235,464us-gaap_OtherLongTermDebt
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[6]    
Repurchase agreements 441,176us-gaap_SecuritiesSoldUnderAgreementsToRepurchase
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		556,347us-gaap_SecuritiesSoldUnderAgreementsToRepurchase
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		   
Credit facilities and obligations under capital leases, golf 161,857us-gaap_DebtAndCapitalLeaseObligations
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		152,498us-gaap_DebtAndCapitalLeaseObligations
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		   
Financing of subprime mortgage loans subject to call option 406,217nct_FinancingOfSubprimeMortgageLoansSubjectToCallOption
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[3] 406,217nct_FinancingOfSubprimeMortgageLoansSubjectToCallOption
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[3]    
Junior subordinated notes payable 28,918us-gaap_JuniorSubordinatedNotes
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		35,479us-gaap_JuniorSubordinatedNotes
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		   
Interest rate swaps, treated as hedges 1,963us-gaap_CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[5] 6,203us-gaap_CashFlowHedgeDerivativeInstrumentLiabilitiesAtFairValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[5]    
Non-hedge derivatives $ 2,365us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsLiabilitiesAtFairValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[5] $ 7,592us-gaap_OtherDerivativesNotDesignatedAsHedgingInstrumentsLiabilitiesAtFairValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember 		[5]    
[1] Measured at fair value on a recurring basis.
[2] Excludes eight CDO securities with a zero value, which had an aggregate face amount of $112.5 million.
[3] Represents an option, not an obligation, to repurchase loans from Newcastle's subprime mortgage loan securitizations (Note 6).
[4] The carrying value of these assets and liabilities approximates fair value.
[5] Represents derivative assets and liabilities including interest rate swaps and TBA forward contracts (Note 9).
[6] Newcastle notes that the unrealized gain on the liabilities within such structures cannot be fully realized. Assets held within CDOs and other non- recourse structures are generally not available to satisfy obligations outside of such financings, except to the extent Newcastle receives net cash flow distributions from such structures. Furthermore, creditors or beneficial interest holders of these structures have no recourse to the general credit of Newcastle. Therefore, Newcastle's exposure to the economic losses from such structures is limited to its invested equity in them and economically their book value cannot be less than zero. As a result, the fair value of Newcastle's net investments in these non-recourse financing structures is equal to the present value of their expected future net cash flows.