Quarterly report pursuant to Section 13 or 15(d)

DEBT OBLIGATIONS (Details Narrative)

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DEBT OBLIGATIONS (Details Narrative) (USD $)
In Thousands, unless otherwise specified
 9 Months Ended 1 Months Ended 9 Months Ended 1 Months Ended
Sep. 30, 2014
Dec. 31, 2013
Sep. 30, 2014
Golf Investments [Member]
Sep. 30, 2014
Bank of America [Member]
Sep. 30, 2014
Subsequent To Balance Sheet Date [Member]
Sep. 30, 2014
Upper Range [Member]
Sep. 30, 2014
Interest rate swaps [Member]
Not designated as hedging instrument [Member]
Dec. 31, 2013
Interest rate swaps [Member]
Not designated as hedging instrument [Member]
Sep. 30, 2014
CDO VI Bonds Payable [Member]
Sep. 30, 2014
CDO VI Bonds Payable [Member]
Interest rate swaps [Member]
Not designated as hedging instrument [Member]
Jul. 31, 2014
CDO Securities Repurchase Agreements [Member]
Sep. 30, 2014
CDO Securities Repurchase Agreements [Member]
Sep. 30, 2014
Fixed Rate Managed Properties - Tranche 1 [Member]
Sep. 30, 2014
Fixed Rate Managed Properties - Tranche 1 [Member]
Sep. 30, 2014
Floating Rate Managed Properties [Member]
Sep. 30, 2014
Floating Rate Managed Properties [Member]
Upper Range [Member]
Sep. 30, 2014
Fixed Rate Triple Net Lease Properties - Tranche 1 [Member]
Sep. 30, 2014
Fixed Rate Triple Net Lease Properties - Tranche 2 [Member]
Sep. 30, 2014
Golf First Lien Loan [Member]
Sep. 30, 2014
Subprime Mortgage Loans Subject to Call [Member]
Sep. 30, 2014
Total CDO Bonds Payable [Member]
Jul. 31, 2014
Total CDO Bonds Payable [Member]
Sep. 30, 2014
Total Golf Credit Facilities [Member]
Jun. 30, 2013
CDO VIII Bonds Payable [Member]
Sep. 30, 2014
CDO VIII Bonds Payable [Member]
Notional Amount of Derivatives             $ 130,342 $ 185,871   $ 130,300                              
Interest Payable           100                                      
Repurchase agreements       63,800 63,800                                        
Margin exposure                       63,800                          
Debt amount subject to specific conditions                         40,700 11,400 165,000   358,400 313,500              
Variable rate description                     one month LIBOR LIBOR [1],[2],[3] 4% the first two years; thereafter 5.99% to 6.76% First two years based on US Treasury Security rates; Years 3 to 5: 4.5%, 4.75% and 5.0%   LIBOR [1],[4] 4.00% until January 2019, 4.99% therafter 3.83% until January 2019, 4.56% therafter 3 month LIBOR [1],[5],[6] LIBOR+2.25% after April 2016       one-month LIBOR  
LIBOR Floor                             1.00%       0.50%            
Effective interest rate                                 4.00% 3.83%              
Debt Face Amount 2,147,137               92,349 [7]   12,000 63,804 [2],[3]     278,549       49,923 [5]   229,833 20,000 160,692 [5]   71,813
Variable Interest Rate Spread                     1.65% 1.65% [1],[2],[3]       3.75% [1],[4]     4.00% [1],[5],[6]         1.50%  
Final Stated Maturity                     Aug 2014                            
Unused borrowing capacity                                             4,600    
Golf facilities capital lease term     66 months                                            
Purchase of securities - face amount                                               116,800  
Purchase of securities - pay amount                                               103,100  
Percentage of par of securities                                               88.30%  
Repurchase agreements $ 63,804 $ 556,347                                           $ 60,000  
[1] Weighted average, including floating and fixed rate classes.
[2] Represents financings of previously repurchased Newcastle CDO bonds for which the collateral is eliminated in consolidation.
[3] These repurchase agreements had less than $0.1 million of accrued interest payable at September 30, 2014. $63.8 million face amount of these repurchase agreements were renewed subsequent to September 30, 2014. The counterparty on these repurchase agreements is Bank of America ($63.8 million). Newcastle has margin exposure on a $63.8 million repurchase agreement related to the financing of certain Newcastle CDO VIII and CDO IX notes. To the extent that the value of the collateral underlying these repurchase agreements declines, Newcastle may be required to post margin, which could significantly impact its liquidity.
[4] $165.0 million of the floating rate mortgages have a LIBOR floor of 1.0%.
[5] The golf credit facilities are collateralized by all of the assets of the golf business.
[6] Interest rate on this is based on 3 month LIBOR with a LIBOR floor of 0.5%.
[7] This CDO was not in compliance with its applicable over collateralization tests as of September 30, 2014. Newcastle is not receiving cash flows from this CDO (other than senior management fees and cash flows on senior classes of bonds that were repurchased), since net interest is being used to repay debt, and expects this CDO to remain out of compliance for the foreseeable future.