Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING AND VARIABLE INTEREST ENTITIES - Variable Interest Entities (Details 2)

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SEGMENT REPORTING AND VARIABLE INTEREST ENTITIES - Variable Interest Entities (Details 2) - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Assets of consolidated VIEs that can only be used to settle obligations of consolidated VIEs    
Real estate securities, available-for-sale $ 61,508 $ 231,754
Real estate related and other loans, held-for-sale, net 142,802 230,200
Subprime mortgage loans subject to call option 392,342 [1] 406,217
Restricted cash 5,759 15,714
Receivables and other assets 41,550 35,191
Assets of discontinued operations 53 6,803
Total Assets 1,738,590 1,761,906
Liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Newcastle    
CDO bonds payable 92,812 [2] 227,673
Other bonds and notes payable 7,494 [2] 27,069
Financing of subprime mortgage loans subject to call option 392,342 [1] 406,217
Accounts payable, accrued expenses and other liabilities 164,078 179,390
Liabilities of discontinued operations 0 447
Total Liabilities 1,514,778 1,503,578
Non Recourse VIE Financing Structures [Member]    
Assets of consolidated VIEs that can only be used to settle obligations of consolidated VIEs    
Real estate securities, available-for-sale 49,398 219,490
Real estate related and other loans, held-for-sale, net 0 230,200
Residential mortgage loans, held-for-sale, net 0 3,211
Subprime mortgage loans subject to call option 392,342 406,217
Other investments 0 20,308
Restricted cash 110 11,790
Receivables and other assets 95 1,927
Assets of discontinued operations 0 6,803
Total Assets 441,945 899,946
Liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Newcastle    
CDO bonds payable 92,812 227,673
Other bonds and notes payable 7,494 27,069
Financing of subprime mortgage loans subject to call option 392,342 406,217
Accounts payable, accrued expenses and other liabilities 22 2,391
Liabilities of discontinued operations 0 447
Total Liabilities $ 492,670 $ 663,797
[1] Represents an option, not an obligation, to repurchase loans from Newcastle’s subprime mortgage loan securitizations (Note 6).
[2] 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. 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.