Quarterly report pursuant to Section 13 or 15(d)

RECENT ACTIVITIES (Details Narrative)

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RECENT ACTIVITIES (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
Sep. 12, 2012
Jul. 18, 2012
Senior Living Real Estate
Sep. 30, 2012
Non-agency RMBS Repurchase Agreements
Sep. 30, 2012
FNMA/FHLMC Securities
Jul. 18, 2012
Equity Method Investments
Jul. 18, 2012
Third-Party Financing Loans
Deposit funded as part of the agreement to acquire interest in Excess MSRs     $ 25,200              
Breakup fee     8,400              
Acquisition of eight senior housing assets, aggregate purchase price           143,300     54,900 88,400
Acquisition-related expenses recorded as General and Administrative Expenses     3,500              
Acquisition of eight senior housing assets, number of units           800        
Weighted Average Funding Cost           3.45%        
Management Fee Percentage of properties' gross income, first two years           6.00%        
Management Fee Percentage of properties' gross income, three years and beyond           7.00%        
Reimbursement to Fortress of pre-acquisition disbursements           6,400        
CDO X sales price         130,000          
CDO X subordinated notes sold         89,750          
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            
Conditional purchase of securities with CDO X Deconsolidation - Description         A condition to the sale of its interests was the right to purchase certain collateral held by CDO X. Newcastle purchased eight securities with a face amount of $101 million for 49.4% of par, or approximately $50 million.          
Repurchase of CDO Bonds Payable - Face 34,100   34,100              
Repurchase of CDO Bonds Payable - Pay Amount 10,800   10,800              
Extinguished debt on repurchase of bonds payable 34,100   34,100              
Gain on extinguishment of debt     23,100              
Settled purchases of securities, principal balance             321,700 347,200    
Settled purchases of securities, purchase price             201,700 367,600    
Cash purchase price of securities settled             142,500 19,400    
Financing of settled purchases of securities via repurchase agreements             $ 59,200 $ 348,200    
Repurchase Agreements Specifications             Interest at Libor plus 200 basis points, mature in October 2012, have an advance rate of 65% and subject to margin call Interest at .42%, mature in August 2012 and are subject to customary margin call provisions.