Quarterly report pursuant to Section 13 or 15(d)

REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Subprime Mortgage Loans (Details 5)

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REAL ESTATE RELATED LOANS, RESIDENTIAL MORTGAGE LOANS AND SUBPRIME MORTGAGE LOANS - Subprime Mortgage Loans (Details 5) - USD ($)
$ in Thousands
Sep. 30, 2015
Dec. 31, 2014
Financing Receivable, Impaired [Line Items]    
Total securitized loans (unpaid principal balance) [1] $ 693,873  
Loans subject to call option (carrying value) 392,342 [2] $ 406,217
Retained bonds (fair value) [3] 2,926  
Subprime Portfolio I [Member]    
Financing Receivable, Impaired [Line Items]    
Total securitized loans (unpaid principal balance) [1] 285,550  
Loans subject to call option (carrying value) 285,301  
Retained bonds (fair value) [3] 2,926  
Subprime Portfolio II [Member]    
Financing Receivable, Impaired [Line Items]    
Total securitized loans (unpaid principal balance) [1] 408,323  
Loans subject to call option (carrying value) 107,041  
Retained bonds (fair value) [3] $ 0  
[1] Average loan seasoning of 122 months and 104 months for Subprime Portfolios I and II, respectively, at September 30, 2015.
[2] Represents an option, not an obligation, to repurchase loans from Newcastle’s subprime mortgage loan securitizations (Note 6).
[3] The retained interests include retained bonds of the securitizations with negligible monthly interest cash flows until principal payment is available. The fair value of which is estimated based on pricing service quotation. The weighted average yield of the retained bonds was 21.2% as of September 30, 2015.