Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE - Recurring Basis (Details 2)

v2.4.0.8
FAIR VALUE - Recurring Basis (Details 2) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2014
Dec. 31, 2013
Assets:    
Real estate securities, available-for-sale $ 439,023 $ 984,263
Derivative assets:    
Derivative assets 34,022 43,662
CMBS [Member]
    
Assets:    
Real estate securities, available-for-sale 286,341  
REIT Debt [Member]
    
Assets:    
Real estate securities, available-for-sale 30,957 [1]  
Non-Agency RMBS [Member]
    
Assets:    
Real estate securities, available-for-sale 61,524 [1]  
CDOs [Member]
    
Assets:    
Real estate securities, available-for-sale 60,201 [1],[2],[3]  
Principal Balance or Notional Amount [Member]
    
Assets:    
Real estate securities, available-for-sale 532,730 [4],[5]  
Derivative assets:    
Derivative assets 90,097 [4],[6]  
Derivative Liabilities:    
Interest rate swaps, treated as hedges 104,662 [4],[7]  
Interest rate swaps, not treated as hedges 183,729 [4],[6],[7]  
Carrying Value [Member]
    
Assets:    
Real estate securities, available-for-sale 439,023 [4],[5]  
Derivative assets:    
Derivative assets 34,022 [4],[6]  
Derivative Liabilities:    
Interest rate swaps, treated as hedges 4,999 [4],[7]  
Interest rate swaps, not treated as hedges 5,515 [4],[6],[7]  
Estimated Fair Value [Member]
    
Assets:    
Real estate securities, available-for-sale 439,023 [4],[5]  
Derivative assets:    
Derivative assets 34,022 [4],[6]  
Derivative Liabilities:    
Interest rate swaps, treated as hedges 4,999 [4],[7]  
Interest rate swaps, not treated as hedges 5,515 [4],[6],[7]  
Measured on a Recurring Basis [Member] | Level 2 Inputs [Member]
    
Assets:    
Real estate securities, available-for-sale 30,957  
Derivative Liabilities:    
Interest rate swaps, treated as hedges 4,999  
Interest rate swaps, not treated as hedges 5,515  
Derivative liabilities 10,514  
Measured on a Recurring Basis [Member] | Level 2 Inputs [Member] | REIT Debt [Member]
    
Assets:    
Real estate securities, available-for-sale 30,957  
Measured on a Recurring Basis [Member] | Level 3 Inputs [Member]
    
Assets:    
Real estate securities, available-for-sale 408,066  
Derivative assets:    
Linked transactions at fair value 34,022  
Derivative assets 34,022  
Measured on a Recurring Basis [Member] | Level 3 Inputs [Member] | CMBS [Member]
    
Assets:    
Real estate securities, available-for-sale 286,341  
Measured on a Recurring Basis [Member] | Level 3 Inputs [Member] | Non-Agency RMBS [Member]
    
Assets:    
Real estate securities, available-for-sale 61,524  
Measured on a Recurring Basis [Member] | Level 3 Inputs [Member] | CDOs [Member]
    
Assets:    
Real estate securities, available-for-sale 60,201 [3]  
Measured on a Recurring Basis [Member] | Principal Balance or Notional Amount [Member]
    
Assets:    
Real estate securities, available-for-sale 532,730  
Derivative assets:    
Linked transactions at fair value 90,097  
Derivative assets 90,097  
Derivative Liabilities:    
Interest rate swaps, treated as hedges 104,662  
Interest rate swaps, not treated as hedges 183,729  
Derivative liabilities 288,391  
Measured on a Recurring Basis [Member] | Principal Balance or Notional Amount [Member] | CMBS [Member]
    
Assets:    
Real estate securities, available-for-sale 330,213  
Measured on a Recurring Basis [Member] | Principal Balance or Notional Amount [Member] | REIT Debt [Member]
    
Assets:    
Real estate securities, available-for-sale 29,200  
Measured on a Recurring Basis [Member] | Principal Balance or Notional Amount [Member] | Non-Agency RMBS [Member]
    
Assets:    
Real estate securities, available-for-sale 93,221  
Measured on a Recurring Basis [Member] | Principal Balance or Notional Amount [Member] | ABS Franchise [Member]
    
Assets:    
Real estate securities, available-for-sale 8,464  
Measured on a Recurring Basis [Member] | Principal Balance or Notional Amount [Member] | CDOs [Member]
    
Assets:    
Real estate securities, available-for-sale 71,632 [3]  
Measured on a Recurring Basis [Member] | Carrying Value [Member]
    
Assets:    
Real estate securities, available-for-sale 439,023  
Derivative assets:    
Linked transactions at fair value 34,022  
Derivative assets 34,022  
Derivative Liabilities:    
Interest rate swaps, treated as hedges 4,999  
Interest rate swaps, not treated as hedges 5,515  
Derivative liabilities 10,514  
Measured on a Recurring Basis [Member] | Carrying Value [Member] | CMBS [Member]
    
Assets:    
Real estate securities, available-for-sale 286,341  
Measured on a Recurring Basis [Member] | Carrying Value [Member] | REIT Debt [Member]
    
Assets:    
Real estate securities, available-for-sale 30,957  
Measured on a Recurring Basis [Member] | Carrying Value [Member] | Non-Agency RMBS [Member]
    
Assets:    
Real estate securities, available-for-sale 61,524  
Measured on a Recurring Basis [Member] | Carrying Value [Member] | CDOs [Member]
    
Assets:    
Real estate securities, available-for-sale 60,201 [3]  
Measured on a Recurring Basis [Member] | Estimated Fair Value [Member]
    
Assets:    
Real estate securities, available-for-sale 439,023  
Derivative assets:    
Linked transactions at fair value 34,022  
Derivative assets 34,022  
Derivative Liabilities:    
Interest rate swaps, treated as hedges 4,999  
Interest rate swaps, not treated as hedges 5,515  
Derivative liabilities 10,514  
Measured on a Recurring Basis [Member] | Estimated Fair Value [Member] | CMBS [Member]
    
Assets:    
Real estate securities, available-for-sale 286,341  
Measured on a Recurring Basis [Member] | Estimated Fair Value [Member] | REIT Debt [Member]
    
Assets:    
Real estate securities, available-for-sale 30,957  
Measured on a Recurring Basis [Member] | Estimated Fair Value [Member] | Non-Agency RMBS [Member]
    
Assets:    
Real estate securities, available-for-sale 61,524  
Measured on a Recurring Basis [Member] | Estimated Fair Value [Member] | CDOs [Member]
    
Assets:    
Real estate securities, available-for-sale $ 60,201 [3]  
[1] See Note 12 regarding the estimation of fair value, which is equal to carrying value for all securities.
[2] Represents non-consolidated CDO securities, excluding nine securities with a zero value, which had an aggregate face amount of $115.3 million.
[3] Represents non consolidated CDO securities, excluding nine securities with a zero value, which had an aggregate face amount of $115.3 million.
[4] Measured at fair value on a recurring basis.
[5] Excludes nine CDO securities with a zero value, which had an aggregate face amount of $115.3 million.
[6] Newcastle's derivatives fall into two categories. A derivative asset with an aggregate notional balance of $90.1 million represents linked transactions with $90.1 million face amount of underlying financed securities. As of March 31, 2014, all derivative liabilities, which represent three interest rate swaps, were held within Newcastle's nonrecourse structures. An aggregate notional balance of $288.3 million is only subject to the credit risks of the respective CDO structures. As they are senior to all the debt obligations of the respective CDOs and the fair value of each of the CDOs' total investments exceeded the fair value of each of the CDOs' derivative liabilities, no credit valuation adjustments were recorded. Newcastle?s interest rate swap counterparties include Bank of America and Bank of New York Mellon. Newcastle's derivatives are included in receivables and other assets or accounts payable, accrued expenses and other liabilities in the consolidated balance sheets, as applicable.
[7] (See Schedule of fair value of derivative assets)