Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Details Narrative)

v2.4.0.6
SEGMENT REPORTING (Details Narrative) (USD $)
In Thousands, unless otherwise specified
 3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Aggregate Face Amount of debt $ 78,000   $ 78,000  
Carrying Value of debt 69,200   69,200  
Repurchase Agreement - FNMA/FHLMC securities 538,500   538,500  
Carrying value of FNMA/FHLMC securities 577,100   577,100  
Repurchase Agreement - Newcastle CDO VI 1,800   1,800  
Senior notes Newcastle CDO VI 26,400   26,400  
Repurchase Agreement-Non agency RMBS     59,600  
Carrying value of non-agency RMBS     90,400  
Non-agency residential mortgage backed securities purchased     20  
Aggregate Face Amount of Non-Agency securities purchased     185,200  
Aggregate purchase price of non-agency securities     108,300  
Average price (percentage of par) of Non-Agency securities purchased     58.50%  
Aggregate Face Amount of Debt, Non-Agency RE Securities 181,400   181,400  
Carrying Value of debt, Non-Agency RE Securities 109,500   109,500  
Face amount of debt in VIE 42,700   42,700  
Deconsolidation of CDO X - decrease in gross assets     1,100,000  
Deconsolidation of CDO X - decrease in gross liabilities     1,200,000  
Deconsolidation of CDO X - decrease in other comprehensive income     25,500  
Deconsolidation of CDO X - gain on sale 224,317 0 224,317 0
Carrying Value of Newcastle's Investment (C) 5,471   5,471  
Face amount of CDO V Class I, III, and IV-FL notes 19,200   19,200  
Recourse Financing Structures Unlevered Assets and Other Liabilities
        
Recourse debt $ 599,959   $ 599,959