Quarterly report pursuant to Section 13 or 15(d)

SUBSEQUENT EVENTS

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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2015
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS
 
These consolidated financial statements include a discussion of material events, if any, that have occurred subsequent to September 30, 2015 (referred to as subsequent events) through the issuance of these consolidated financial statements.

In October 2015, Newcastle settled on a trade to sell $348.9 million face amount of agency RMBS at an average price of 104.32% of par for total proceeds of approximately $364.0 million and recognized a gain of $5.1 million. Newcastle repaid $345.9 million of outstanding repurchase agreement liabilities in connection with this sale (see Note 5).

In October 2015, Newcastle settled on a trade to purchase $354.8 million face amount of agency RMBS at an average price of 104.42% of par for total proceeds of approximately $370.5 million. This transaction was financed with $352.6 million of repurchase agreements (see Note 5).

In October 2015, Newcastle financed an unencumbered real estate related loan with a face amount of $19.4 million with a note payable for $11.7 million.  This note payable bears interest at one month LIBOR + 3.00%, matures in October 2016 and is subject to customary margin provisions.