Quarterly report pursuant to Section 13 or 15(d)

Schedule of Real Estate Securities Holdings in an Unrealized Loss Position and the Associated Intent to Sell (Details)

v2.4.0.6
Schedule of Real Estate Securities Holdings in an Unrealized Loss Position and the Associated Intent to Sell (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 31, 2013
Amortized Cost Basis $ 2,382,692 [1],[2]
RE Securities Intended to Sell
  
Fair Value   
Amortized Cost Basis   
Unrealized Credit Losses    [3]
Unrealized NonCredit Losses N/A [4]
RE Securities More Likely to Sell
  
Fair Value    [5]
Amortized Cost Basis    [5]
Unrealized Credit Losses    [3],[5]
Unrealized NonCredit Losses N/A [4],[5]
RE Securities No Intent to Sell Credit Impaired
  
Fair Value 1,155
Amortized Cost Basis 1,274
Unrealized Credit Losses (5,355) [3]
Unrealized NonCredit Losses (119) [4]
RE Securities No Intent to Sell Non Credit Impaired
  
Fair Value 609,732
Amortized Cost Basis 621,627
Unrealized Credit Losses    [3]
Unrealized NonCredit Losses (11,895) [4]
Securities in an Unrealized Loss Position
  
Fair Value 610,887
Amortized Cost Basis 622,901
Unrealized Credit Losses (5,355) [3]
Unrealized NonCredit Losses $ (12,014) [4]
[1] (G) The total outstanding face amount of fixed rate securities was $0.5 billion, and of floating rate securities was $2.4 billion.
[2] (B) Net of discounts (or gross of premiums) and after OTTI, including impairment taken during the period ended March 31, 2013.
[3] (B) This amount is required to be recorded as other-than-temporary impairment through earnings. In measuring the portion of credit losses, Newcastle's management estimates the expected cash flow for each of the securities. This evaluation includes a review of the credit status and the performance of the collateral supporting those securities, including the credit of the issuer, key terms of the securities and the effect of local, industry and broader economic trends. Significant inputs in estimating the cash flows include management's expectations of prepayment speeds, default rates and loss severities. Credit losses are measured as the decline in the present value of the expected future cash flows discounted at the investment's effective interest rate.
[4] (C) This amount represents unrealized losses on securities that are due to non-credit factors and is required to be recorded through other comprehensive income.
[5] (A) Newcastle may, at times, be more likely than not to be required to sell certain securities for liquidity purposes. While the amount of the securities to be sold may be an estimate, and the securities to be sold have not yet been identified, Newcastle must make its best estimate, which is subject to significant judgment regarding future events, and may differ materially from actual future sales.