Quarterly report pursuant to Section 13 or 15(d)

REAL ESTATE SECURITIES - Real Estate Securities Holdings (Details)

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REAL ESTATE SECURITIES - Real Estate Securities Holdings (Details) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2014
Dec. 31, 2013
Jun. 30, 2014
CMBS Conduit [Member]
Integer
Jun. 30, 2014
CMBS Single Borrower [Member]
Integer
Jun. 30, 2014
CMBS Large Loan [Member]
Integer
Jun. 30, 2014
REIT Debt [Member]
Integer
Jun. 30, 2014
Non-Agency RMBS [Member]
Integer
Jun. 30, 2014
ABS Franchise [Member]
Integer
Jun. 30, 2014
CDO Securities [Member]
Integer
Jun. 30, 2014
Real Estate Securities [Member]
Integer
Outstanding Face Amount     $ 160,893 $ 79,490 $ 3,229 $ 29,200 [1] $ 90,781 [1] $ 8,464 [1] $ 17,063 [1],[2] $ 389,120 [1],[3]
Before Impairment - Amortized Cost Basis     163,393 79,103 3,229 28,791 98,862 7,647 6,368 387,393
Other Than Temporary Impairment - Amortized Cost Basis     (68,980) (12,364)     (59,987) (7,647)   (148,978)
Amortized Cost Basis After Impairment     94,413 66,739 3,229 28,791 [4] 38,875 [4]   6,368 [4] 238,415 [4]
Gains - gross unrealized     38,892 4,092   1,892 21,633   6,349 72,858
Losses - gross unrealized       (5)           (5)
Carrying Value $ 311,268 $ 984,263 $ 133,305 [5] $ 70,826 [5] $ 3,229 [5] $ 30,683 [5] $ 60,508 [5]   $ 12,717 [5] $ 311,268 [5]
Number of securities     27 12 1 5 33 1 2 81
Weighted Average Rating     B+ [6] BB- [6] BBB- [6] BB+ [6] CCC+ [6] C [6] B [6] B [6]
Weighted Average Coupon     5.53% 6.33% 3.20% 5.89% 1.03% 6.69% 0.83% 4.47%
Weighted Average Yield     24.26% 7.55% 3.20% 6.88% 14.12% 0.00% 10.00% 15.16%
Weighted Average Life (Years)     2 years 1 month 6 days [7] 2 years 2 months 12 days [7] 0 years 1 month 6 days [7] 1 year 1 month 6 days [7] 4 years 3 months 18 days [7]   8 years 8 months 12 days [7] 2 years 9 months 18 days [7]
Weighted Average Principal Subordination     10.60% [8] 2.30% [8] 4.40% [8]   26.40% [8] 0.00% [8] 33.00% [8]  
[1] Net of incurred losses.
[2] Represents non-consolidated CDO securities, excluding nine securities with a zero value, which had an aggregate face amount of $116.1 million.
[3] The total outstanding face amount was $265.7 million for fixed rate securities and $123.4 million for floating rate securities.
[4] Net of discounts (or gross of premiums) and after OTTI, including impairment taken during the period ended June 30, 2014.
[5] See Note 12 regarding the estimation of fair value, which is equal to carrying value for all securities.
[6] Represents the weighted average of the ratings of all securities in each asset type, expressed as an S&P equivalent rating. For each security rated by multiple rating agencies, the lowest rating is used. Ratings provided were determined by third party rating agencies, represent the most recent credit ratings available as of the reporting date and may not be current.
[7] The weighted average life is based on the timing of expected principal reduction on the assets.
[8] Percentage of the outstanding face amount of securities and residual interests that is subordinate to Newcastle's investments.