Quarterly report pursuant to Section 13 or 15(d)

Schedule Of Carrying Value and Fair Value Of Assets and Liabilities (Details)

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Schedule Of Carrying Value and Fair Value Of Assets and Liabilities (Details) (USD $)
In Thousands, unless otherwise specified
Apr. 09, 2013
Mar. 31, 2013
Dec. 31, 2012
Mar. 31, 2012
Dec. 31, 2011
Assets          
Real estate securities, available-for-sale   $ 2,495,473 [1],[2] $ 1,691,575    
Real estate related loans, held-for-sale, net   851,525 843,132    
Residential mortgage loans, held-for-investment, net   317,708 292,461    
Residential mortgage loans, held-for-sale, net   2,380 2,471    
Investments in excess mortgage servicing rights at fair value   236,555 245,036    
Investments in equity method investees at fair value   102,588       
Subprime mortgage loans subject to call option   406,115 405,814    
Restricted Cash   11,494 2,064    
Cash and Cash Equivalents   534,772 231,898 156,425 157,356
Non-hedge derivative assets   176 165    
Other investments   24,907 24,907    
Receivables and other assets   27,577 17,230    
Total Assets   5,196,003 3,945,312    
Liabilities          
CDO bonds payable   1,015,560 1,091,354    
Other bonds and notes payable   173,723 183,390    
Repurchase agreements 144,000 1,473,586 929,435    
Mortgage notes payable   120,525 120,525    
Financing of subprime mortgage loans subject to call option (B)   406,115 405,814    
Junior subordinated notes payable   51,242 51,243    
Due to affiliates   4,611 3,620    
Total Liabilities   3,346,504 2,872,252    
CDO Bonds Payable
          
Weighted Average          
Weighted Average Yield/Funding Cost   2.17% [3]      
Weighted Average Maturity (Years)   1 year 10 months [3]      
Total Mortgage Notes Payable
          
Weighted Average          
Weighted Average Yield/Funding Cost   3.79%      
Weighted Average Maturity (Years)   5 years 7 months      
Junior Subordinated Debt
          
Weighted Average          
Weighted Average Yield/Funding Cost   7.40%      
Weighted Average Maturity (Years)   22 years 1 month      
Subprime Mortgage Loans Subject to Call
          
Weighted Average          
Weighted Average Yield/Funding Cost   9.09% [4]      
Weighted Average Maturity (Years)   (C) [4]      
Real Estate Loans Held For Sale
          
Weighted Average          
Weighted Average Yield/Funding Cost   11.56%      
Weighted Average Maturity (Years)   1 year 7 months      
Residential Mortgage Loans Held For Investment
          
Weighted Average          
Weighted Average Yield/Funding Cost   8.58%      
Weighted Average Maturity (Years)   5 years 7 months      
Residential Mortgage Loans Held For Sale
          
Weighted Average          
Weighted Average Yield/Funding Cost   18.86%      
Weighted Average Maturity (Years)   4 years 8 months      
Principal Balance | Measured on a Recurring Basis
          
Assets          
Real estate securities, available-for-sale   2,946,191 [5]      
Real estate related loans, held-for-sale, net   1,251,678      
Residential mortgage loans, held-for-investment, net   374,264      
Residential mortgage loans, held-for-sale, net   3,451      
Investments in excess mortgage servicing rights at fair value   73,322,892 [5],[6],[7]      
Investments in equity method investees at fair value   66,160,202 [5],[6],[7]      
Subprime mortgage loans subject to call option   406,217 [4]      
Restricted Cash   11,494 [5]      
Cash and Cash Equivalents   534,772 [5]      
Non-hedge derivative assets   23,400 [5],[8],[9]      
Liabilities          
CDO bonds payable   1,014,993 [3]      
Other bonds and notes payable   178,041      
Repurchase agreements   1,473,586      
Mortgage notes payable   120,525      
Financing of subprime mortgage loans subject to call option (B)   406,217 [4]      
Junior subordinated notes payable   51,004      
Interest rate swaps, treated as hedges   154,100 [10],[5],[9]      
Non-hedge derivatives   281,869 [5],[8],[9]      
Carrying Amount | Measured on a Recurring Basis
          
Assets          
Real estate securities, available-for-sale   2,495,473 [5]      
Real estate related loans, held-for-sale, net   851,525      
Residential mortgage loans, held-for-investment, net   317,708      
Residential mortgage loans, held-for-sale, net   2,380      
Investments in excess mortgage servicing rights at fair value   236,555 [5],[6],[7]      
Investments in equity method investees at fair value   102,588 [5],[6],[7]      
Investments in real estate and intangibles, net   184,733      
Subprime mortgage loans subject to call option   406,115 [4]      
Restricted Cash   11,494 [5]      
Cash and Cash Equivalents   534,772 [5]      
Non-hedge derivative assets   176 [5],[8],[9]      
Other investments   24,907      
Receivables and other assets   27,577      
Total Assets   5,196,003      
Liabilities          
CDO bonds payable   1,015,560 [3]      
Other bonds and notes payable   173,723      
Repurchase agreements   1,473,586      
Mortgage notes payable   120,525      
Financing of subprime mortgage loans subject to call option (B)   406,115 [4]      
Junior subordinated notes payable   51,242      
Interest rate swaps, treated as hedges   10,331 [10],[5],[9]      
Non-hedge derivatives   16,281 [5],[8],[9]      
Due to affiliates   4,611      
Dividends payable, accrued expenses and other liabilities   74,530      
Total Liabilities   3,346,504      
Total Fair Value | Measured on a Recurring Basis
          
Assets          
Real estate securities, available-for-sale   2,495,473 [5]      
Real estate related loans, held-for-sale, net   867,777      
Residential mortgage loans, held-for-investment, net   324,554      
Residential mortgage loans, held-for-sale, net   2,380      
Investments in excess mortgage servicing rights at fair value   236,555 [5],[6],[7]      
Investments in equity method investees at fair value   102,588 [5],[6],[7]      
Investments in real estate and intangibles, net   194,878      
Subprime mortgage loans subject to call option   406,115 [4]      
Restricted Cash   11,494 [5]      
Cash and Cash Equivalents   534,772 [5]      
Non-hedge derivative assets   176 [5],[8],[9]      
Other investments   13,165      
Receivables and other assets   27,577      
Total Assets   5,217,504      
Liabilities          
CDO bonds payable   791,641 [3]      
Other bonds and notes payable   180,638      
Repurchase agreements   1,473,586      
Mortgage notes payable   120,525      
Financing of subprime mortgage loans subject to call option (B)   406,115 [4]      
Junior subordinated notes payable   32,840      
Interest rate swaps, treated as hedges   10,331 [10],[5],[9]      
Non-hedge derivatives   16,281 [5],[8],[9]      
Due to affiliates   4,611      
Dividends payable, accrued expenses and other liabilities   74,530      
Total Liabilities   $ 3,111,098      
Real Estate Securities Available For Sale
          
Weighted Average          
Weighted Average Yield/Funding Cost   3.92% [5]      
Weighted Average Maturity (Years)   4 years 8 months [5]      
Investments in Excess MSRs
          
Weighted Average          
Weighted Average Yield/Funding Cost   17.60% [5],[6]      
Weighted Average Maturity (Years)   5 years 5 months [5],[6]      
Investments in Equity Method Investees
          
Weighted Average          
Weighted Average Yield/Funding Cost   15.56% [5],[6]      
Weighted Average Maturity (Years)   6 years 4 months [5],[6]      
Derivative Financial Instruments, Assets
          
Weighted Average          
Weighted Average Yield/Funding Cost   N/A [8],[9]      
Weighted Average Maturity (Years)   (D) [8],[9]      
Other Bonds and Notes Payable
          
Weighted Average          
Weighted Average Yield/Funding Cost   5.13%      
Weighted Average Maturity (Years)   4 years      
Repurchase Agreements
          
Weighted Average          
Weighted Average Yield/Funding Cost   0.63%      
Weighted Average Maturity (Years)   0 years 1 month      
Financing on Subprime Mortgage Loans subject to Call Options
          
Weighted Average          
Weighted Average Yield/Funding Cost   9.09% [4]      
Weighted Average Maturity (Years)   (C) [4]      
Interest Rate Swap Agreements
          
Weighted Average          
Weighted Average Yield/Funding Cost   N/A [10],[4],[9]      
Weighted Average Maturity (Years)   (F) [10],[4],[9]      
Non Hedge Derivative Liabilities
          
Weighted Average          
Weighted Average Yield/Funding Cost   N/A [8],[9]      
Weighted Average Maturity (Years)   (D) [8],[9]      
[1] (A) See Note 9 regarding the estimation of fair value, which is equal to carrying value for all securities.
[2] (G) The total outstanding face amount of fixed rate securities was $0.5 billion, and of floating rate securities was $2.4 billion.
[3] (G) Newcastle notes that the unrealized gain on the liabilities within such structures cannot be fully realized.
[4] (C) These two items result from an option, not an obligation, to repurchase loans from Newcastle's subprime mortgage loan securitizations (Note 4), are noneconomic until such option is exercised, and are equal and offsetting.
[5] *Measured at fair value on a recurring basis.
[6] (B) The notional amount represents the total unpaid principal balance of the mortgage loans. Newcastle does not receive an excess mortgage servicing amount on nonperforming loans for Agency portfolios. The weighted average yield and maturity for the investments in equity method investees represents the yield and maturity of the underlying investments in Excess MSRs.
[7] (1) The notional amount represents the total unpaid principal balance of the mortgage loans. Generally, Newcastle does not receive an excess mortgage servicing amount on nonperforming loans.
[8] (D) This represents two interest rate swap agreements with a total notional balance of $281.9 million, maturing in March 2014 and March 2015, respectively, and an interest rate cap agreement with a notional balance of $23.4 million, maturing in August 2019. Newcastle entered into these agreements to reduce its exposure to interest rate changes on the floating rate financings of CDO IV, CDO VI and the senior living assets. These derivative agreements were not designated as hedges for accounting purposes as of March 31, 2013.
[9] (E) Newcastle's derivatives fall into two categories. As of March 31, 2013, all derivatives were held within Newcastle's nonrecourse CDO structures. An aggregate notional balance of $436.0 million, which were liabilities at period end, are only subject to the credit risks of the respective CDO structures. As they are senior to all the debt obligations of the respective CDOs and the fair value of each of the CDOs' total investments exceeded the fair value of each of the CDOs' derivative liabilities, no credit valuation adjustments were recorded. A notional balance of $23.4 million was an asset at period end and therefore is subject to the counterparty's credit risk. No adjustments have been made to the fair value quotations received related to credit risk as a result of the counterparty's "AA" credit rating. Newcastle's significant derivative counterparties include Bank of America, Credit Suisse and Wells Fargo.
[10] (F) Represents derivative agreements as follows (See Table Schedule of Fair Value of Derivative Assets)