Annual report pursuant to Section 13 and 15(d)

RECENT ACTIVITIES

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RECENT ACTIVITIES
12 Months Ended
Dec. 31, 2014
Subsequent Events [Abstract]  
RECENT ACTIVITIES
16. RECENT ACTIVITIES
These financial statements include a discussion of material events which have occurred subsequent to December 31, 2014 (referred to as “subsequent events”) through the issuance of these consolidated financial statements. Events subsequent to that date have not been considered in these financial statements.

Subsequent to December 31, 2014, Newcastle sold Agency RMBS with a face amount of approximately $387.4 million at an average price of 104.72% for an estimated gain of $6 million and repaid associated repurchase agreements.  Newcastle also purchased Agency RMBS with a face amount approximately $390 million at an average price of 104.77%.