Quarterly report pursuant to Section 13 or 15(d)

REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Schedule of Loans (Details)

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REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Schedule of Loans (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2014
Integer
Number of Securities 90
Weighted Average Yield 12.62%
Weighted Average Coupon 4.10%
Weighted Average Maturity (Years) 2 years 9 months 18 days [1]
Mezzanine Loans [Member]
  
Outstanding Face Amount $ 157,519
Carrying Value 125,071
Number of Securities 8
Weighted Average Yield 6.99%
Weighted Average Coupon 7.33%
Weighted Average Maturity (Years) 1 year 4 months 24 days [1]
Floating Rate Loans as a % of Face Amount 75.70%
Delinquent Face Amount 12,000 [2]
Corporate Bank Loans [Member]
  
Outstanding Face Amount 174,806
Carrying Value 97,244
Number of Securities 5
Weighted Average Yield 22.03%
Weighted Average Coupon 12.36%
Weighted Average Maturity (Years) 2 years 3 months 18 days [1]
Floating Rate Loans as a % of Face Amount 14.80%
Delinquent Face Amount 24,835 [2]
B-Notes [Member]
  
Outstanding Face Amount 96,033
Carrying Value 90,445
Number of Securities 3
Weighted Average Yield 11.10%
Weighted Average Coupon 5.30%
Weighted Average Maturity (Years) 1 year 4 months 24 days [1]
Floating Rate Loans as a % of Face Amount 76.60%
Whole Loans [Member]
  
Outstanding Face Amount 490
Carrying Value 490
Number of Securities 1
Weighted Average Yield 4.08%
Weighted Average Coupon 7.55%
Weighted Average Maturity (Years) 0 years 7 months 6 days [1]
Total Real Estate Related and Other Loans Held for Sale [Member]
  
Outstanding Face Amount 428,848
Carrying Value 313,250
Number of Securities 17
Weighted Average Yield 12.84%
Weighted Average Coupon 8.93%
Weighted Average Maturity (Years) 1 year 8 months 12 days [1]
Floating Rate Loans as a % of Face Amount 51.00%
Delinquent Face Amount 36,835 [2]
Non-Securitized Manufacturing Housing Loan Portfolio I [Member]
  
Outstanding Face Amount 496
Carrying Value 130 [3]
Number of Securities 14
Weighted Average Yield 82.04%
Weighted Average Coupon 7.91%
Weighted Average Maturity (Years) 0 years 10 months 24 days [1]
Non-Securitized Manufacturing Housing Loan Portfolio II [Member]
  
Outstanding Face Amount 2,511
Carrying Value 2,048 [3]
Number of Securities 96
Weighted Average Yield 15.40%
Weighted Average Coupon 10.04%
Weighted Average Maturity (Years) 5 years [1]
Floating Rate Loans as a % of Face Amount 9.60%
Delinquent Face Amount 205 [2]
Securitized Manufacturing Housing Loan Portfolio I [Member]
  
Outstanding Face Amount 98,925 [4],[5]
Carrying Value 89,113 [3],[4],[5]
Number of Securities 2,742 [4],[5]
Weighted Average Yield 9.43% [4],[5]
Weighted Average Coupon 8.59% [4],[5]
Weighted Average Maturity (Years) 6 years [1],[4],[5]
Floating Rate Loans as a % of Face Amount 0.60% [4],[5]
Delinquent Face Amount 955 [2],[4],[5]
Securitized Manufacturing Housing Loan Portfolio II [Member]
  
Outstanding Face Amount 123,611 [4],[5]
Carrying Value 123,277 [3],[4],[5]
Number of Securities 4,493 [4],[5]
Weighted Average Yield 8.14% [4],[5]
Weighted Average Coupon 9.62% [4],[5]
Weighted Average Maturity (Years) 4 years 9 months 18 days [1],[4],[5]
Floating Rate Loans as a % of Face Amount 16.40% [4],[5]
Delinquent Face Amount 1,884 [2],[4],[5]
Residential Mortgage Loans [Member]
  
Outstanding Face Amount 44,941 [4]
Carrying Value 33,731 [3],[4]
Number of Securities 170 [4]
Weighted Average Yield 6.92% [4]
Weighted Average Coupon 2.26% [4]
Weighted Average Maturity (Years) 5 years 2 months 12 days [1],[4]
Floating Rate Loans as a % of Face Amount 100.00% [4]
Delinquent Face Amount 6,935 [2],[4]
Total Residential Mortgage Loans Held For Sale [Member]
  
Outstanding Face Amount 270,484
Carrying Value 248,299
Number of Securities 7,515
Weighted Average Yield 8.54%
Weighted Average Coupon 8.02%
Weighted Average Maturity (Years) 5 years 3 months 18 days [1]
Floating Rate Loans as a % of Face Amount 24.40%
Delinquent Face Amount 9,979 [2]
Subprime Mortgage Loans Subject to Call [Member]
  
Outstanding Face Amount 406,217
Carrying Value $ 406,217
[1] The weighted average life is based on the timing of expected principal reduction on the assets.
[2] Includes loans that are 60 or more days past due (including loans that are in foreclosure, or borrower's in bankruptcy) or considered real estate owned ("REO"). As of March 31, 2014, $101.3 million face amount of real estate related and other loans was on non-accrual status.
[3] Carrying value includes interest receivable of $0.1 million for the residential housing loans and principal and interest receivable of $5.2 million for the manufactured housing loans.
[4] Loans acquired at a discount for credit quality.
[5] Newcastle intends to sell its manufactured housing portfolio in the near term. As such, Newcastle has reclassified the loans as held for sale as of March 31, 2014. In addition, Newcastle delivered to the trustees a notice to redeem the outstanding debt within each securitization at par. The fair value of the loans as of March 31, 2014 was 104% of par.