Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
In Thousands, unless otherwise specified
 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Cash Flows From Operating Activities    
Net income (loss) $ 91,736 $ 103,910
Adjustments to reconcile net income to net cash provided by (used in) operating activities (inclusive of amounts related to discontinued operations):    
Depreciation and amortization 8,149 174
Accretion of discount and other amortization (22,426) (25,860)
Interest income in CDOs redirected for reinvestment or CDO bond paydown (817) (2,445)
Interest income on investments accrued to principal balance (12,673) (10,914)
Interest expense on debt accrued to principal balance 219 218
Non-cash director's compensation 275 220
Valuation allowance (reversal) on loans 1,525 (12,254)
Other-than-temporary impairment on securities 4,449 13,673
Change in fair value of investments in excess mortgage servicing rights (3,894) (4,739)
Change in investments in equity method investees (19,170)   
Distributions of earnings from equity method investees 1,069   
(Gain)/Loss on settlement of investments (net) (5,063) (3,646)
Unrealized Gain on non-hedge derivatives and hedge ineffectiveness (5,409) 2,476
Gain on extinguishment of debt (1,206) (20,782)
Change in:    
Restricted cash 3,036 364
Receivables and other assets 580 (4,371)
Due to affiliates (404) 334
Accrued expenses and other liabilities 771 2,977
Payment of deferred interest (648)   
Deferred interest received 5,125   
Net cash provided by (used in) operating activities 45,224 39,335
Cash Flows From Investing Activities    
Principal repayments from repurchased CDO debt 75,903 12,567
Principal repayments from CDO securities 1,781 527
Principal repayments from non-Agency RMBS 25,178 4,173
Return of investments in excess mortgage servicing rights 15,803 4,820
Principal repayments from loans and non-CDO securities (excluding non-Agency RMBS) 146,401 38,115
Purchase of real estate securities (1,034,234) (227,670)
Purchase of securities accounted for as linked transactions (103,140)   
Purchase of real estate related and other loans (174,234)   
Proceeds from sale of investments 37,905   
Acquisition of investments in excess mortgage servicing rights    (190,510)
Additions to investments in real estate (834)   
Contributions to equity method investees (386,502)   
Distributions of capital from equity method investees 12,134   
Deposit paid on investments (5,520) (16,801)
Net cash provided by (used in) investing activities (1,389,359) (374,779)
Cash Flows From Financing Activities    
Repurchases of CDO bonds payable (9,722) (9,177)
Repayments of other bonds and notes payable (20,157) (21,684)
Borrowings under repurchase agreements 2,004,020 102,194
Borrowings under repurchase agreements accounted for as linked transactions 59,968   
Repayments of repurchase agreements (1,301,819) (18,424)
Margin deposits under repurchase agreements (152,725) (17,457)
Return of margin deposits under repurchase agreements 120,225 17,457
Issuance of common stock 962,827 268,050
Costs related to issuance of common stock (1,302) (621)
Contribution of cash to New Residential (181,582)   
Common stock dividends paid (93,619) (36,813)
Preferred stock dividends paid (2,790) (2,790)
Payment of deferred financing costs (35)   
Net cash provided by (used in) financing activities 1,383,289 280,735
Net Increase (Decrease) in Cash and Cash Equivalents 39,154 (54,709)
Cash and Cash Equivalents of Continuing Operations, Beginning of Period 231,898 157,347
Cash and Cash Equivalents of Discontinued Operations, Beginning of Period    9
Cash and Cash Equivalents, End of Period 271,052 102,647
Supplemental Disclosure of Cash Flow Information    
Cash paid during the period for interest expense 25,592 40,390
Supplemental Schedule of Non-Cash Investing and Financing Activities    
Preferred stock dividends declared but not paid 930 930
Common stock dividends declared but not paid 43,021 29,436
Securities purchased not yet settled    68,296
Purchase price payable on investments in excess mortgage servicing rights    31,382
Deposit on senior living housing assets due to affiliates    5,930
Reduction of Assets and Liabilities relating to the spin-off of New Residential    
Real estate securities, available for sale 1,647,289   
Residential mortgage loans, held-for-investment, net 35,865   
Investments in excess mortgage servicing rights at fair value 229,936   
Investments in equity method investees 392,469   
Receivables and other assets 37,844   
Repurchase Agreements 1,320,360   
Accrued expenses and other liabilities $ 642