Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS (Details Narrative)

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DEBT OBLIGATIONS (Details Narrative) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 3 Months Ended 1 Months Ended 3 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Mar. 31, 2014
Bank of America [Member]
Mar. 31, 2014
Credit Suisse [Member]
Mar. 31, 2014
Subsequent To Balance Sheet Date [Member]
Mar. 31, 2014
Upper Range
Mar. 31, 2014
Interest rate swaps, not designated as hedges [Member]
Dec. 31, 2013
Interest rate swaps, not designated as hedges [Member]
Mar. 31, 2014
CDO VI Bonds Payable [Member]
Interest rate swaps, not designated as hedges [Member]
Mar. 31, 2014
Fixed Rate Managed Properties - Tranche 1 [Member]
Mar. 31, 2014
Fixed Rate Managed Properties - Tranche 1 [Member]
Mar. 31, 2014
Golf First Lien Loan [Member]
Mar. 31, 2014
Subprime Mortgage Loans Subject to Call [Member]
Jun. 30, 2013
CDO VIII Bonds Payable [Member]
Mar. 31, 2014
CDO VIII Bonds Payable [Member]
Mar. 31, 2014
Total Golf Credit Facilities [Member]
Notional Amount of Derivatives             $ 183,729 $ 185,871 $ 88,800              
Eliminated in consolidation amount of notes payable relating to MH Loan Portfolio I sold to certain Newcastle CDOs 20,500                              
Interest Payable           100                    
Repurchase agreements     49,500 25,400 74,900                      
LIBOR Floor                       0.50%        
Variable rate description                   4% the first two years; 5.99% to 6.76% the remaining term First two years based on US Treasury Security rates; Years 3 to 5: 4.5%, 4.75% and 5.0%   LIBOR+2.25% after April 2016 one-month LIBOR    
Borrowings under mortgage notes payable 17,250                 41,200 11,400          
Unused borrowing capacity                               7,500
Purchase of securities - face amount                           116,800    
Purchase of securities - pay amount                           103,100    
Percentage of par of securities                           88.30%    
Repurchase agreements 74,863 556,347                       60,000    
Variable interest rate basis description                   4% the first two years; 5.99% to 6.76% the remaining term First two years based on US Treasury Security rates; Years 3 to 5: 4.5%, 4.75% and 5.0%   LIBOR+2.25% after April 2016 one-month LIBOR    
Variable Interest Rate Spread                       4.00% [1],[2],[3]   1.50%    
Debt default market capitalization threshold                           50.00%    
Decrease in carrying value of CDO VIII Repack                             $ 9,700  
[1] Weighted average, including floating and fixed rate classes.
[2] These facilities are collateralized by all of the assets of the golf business.
[3] Interest rate on this is based on 3 month LIBOR with a LIBOR floor of 0.5%.