Quarterly report pursuant to Section 13 or 15(d)

REAL ESTATE SECURITIES - Real Estate Securities Holdings (Details)

v2.4.0.8
REAL ESTATE SECURITIES - Real Estate Securities Holdings (Details) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Dec. 31, 2013
Sep. 30, 2014
CMBS Conduit [Member]
Securities
Sep. 30, 2014
CMBS Single Borrower [Member]
Securities
Sep. 30, 2014
CMBS Large Loan [Member]
Securities
Sep. 30, 2014
REIT Debt [Member]
Securities
Sep. 30, 2014
Non-Agency RMBS [Member]
Securities
Sep. 30, 2014
ABS Franchise [Member]
Securities
Sep. 30, 2014
CDO Securities [Member]
Securities
Sep. 30, 2014
Debt Securities [Member]
Securities
Sep. 30, 2014
Equity Securities [Member]
Securities
Sep. 30, 2014
Real Estate Securities [Member]
Securities
Outstanding Face Amount     $ 157,778 $ 79,396 $ 3,229 $ 29,200 [1] $ 87,113 [1] $ 8,464 [1] $ 21,377 [1],[2] $ 386,557 [3]   $ 386,557 [1]
Before Impairment - Amortized Cost Basis     161,688 79,044 3,229 28,856 97,879 7,647 6,394 384,737   384,737
Other Than Temporary Impairment - Amortized Cost Basis     (63,210) (12,364)     (59,987) (7,647)   (143,208)   (143,208)
Amortized Cost Basis After Impairment     98,478 66,680 3,229 28,856 [4] 37,892 [4]   6,394 [2],[4] 241,529   241,529 [4]
Gains - gross unrealized     34,030 3,672   1,437 22,339   7,327 68,805 309 69,114
Losses - gross unrealized       (4)           (4)   (4)
Carrying Value $ 310,639 $ 984,263 $ 132,508 [5] $ 70,348 [5] $ 3,229 [5] $ 30,293 [5] $ 60,231 [5]   $ 13,721 [2],[5] $ 310,330 [5] $ 309 [5] $ 310,639 [5]
Number of securities     26 12 1 5 33 1 3 81 1 82
Weighted Average Rating     B+ [6] BB- [6] BBB- [6] BB+ [6] CCC+ [6] C [6] B- [6] B [6]    
Weighted Average Coupon     5.52% 6.33% 3.36% 5.89% 1.04% 6.69% 1.10% 4.47%    
Weighted Average Yield     12.08% 7.25% 3.36% 6.88% 10.75%   10.11% 9.75%    
Weighted Average Life (Years)     2 years 3 months 18 days [7] 2 years 3 months 18 days [7] 0 years 2 months 12 days [7] 0 years 9 months 18 days [7] 6 years 2 months 12 days [7]   7 years 8 months 12 days [7] 3 years 3 months 18 days [7]    
Weighted Average Principal Subordination     12.40% [8] 2.20% [8] 4.40% [8]   26.80% [8] 0.00% [8] 27.10% [8]      
[1] Net of incurred losses.
[2] Represents non-consolidated CDO securities, excluding eight securities with a zero value, which had an aggregate face amount of $112.5 million.
[3] The total outstanding face amount was $262.6 million for fixed rate securities and $124.0 million for floating rate securities.
[4] Net of discounts (or gross of premiums) and after OTTI.
[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 interests that is subordinate to Newcastle's investments.