Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING AND VARIABLE INTEREST ENTITIES - Other Non-Recourse Investments and Debt (Details 1)

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SEGMENT REPORTING AND VARIABLE INTEREST ENTITIES - Other Non-Recourse Investments and Debt (Details 1) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2013
Investments Face Amount $ 1,011,205 [1],[2]
Investments 2,502,478
Debt Face Amount 1,900,484
Debt Carrying Value (1,897,460)
Non-recourse Other
  
Investments Face Amount 718,851
Investments 699,660 [3],[4]
Debt Face Amount 643,507 [5]
Debt Carrying Value (630,945) [3],[4],[5]
Non-recourse Other | Manufactured Housing Loan Portfolio I
  
Investments Face Amount 110,589
Investments 94,909
Debt Face Amount 82,177 [5]
Debt Carrying Value 73,989 [5]
Non-recourse Other | Manufactured Housing Loan Portfolio II
  
Investments Face Amount 140,828
Investments 138,895
Debt Face Amount 106,124 [5]
Debt Carrying Value 105,619 [5]
Non-recourse Other | Subprime Mortgage Loans subject to Call Options
  
Investments Face Amount 406,217
Investments 406,217
Debt Face Amount 406,217 [5]
Debt Carrying Value 406,217 [5]
Non-recourse Other | Real Estate Securities
  
Investments Face Amount 61,217
Investments 52,953
Debt Face Amount 42,989 [5]
Debt Carrying Value 39,120 [5]
Non-recourse Other | Other Commercial Real Estate
  
Investments Face Amount N/A
Investments 6,686
Debt Face Amount 6,000 [5]
Debt Carrying Value $ 6,000 [5]
[1] (G) The total outstanding face amount was $0.4 billion for fixed rate securities and $0.6 billion for floating rate securities.
[2] (A) Net of incurred losses
[3] (A) Assets held within CDOs and other non-recourse structures are not available to satisfy obligations outside of such financings, except to the extent Newcastle receives net cash flow distributions from such structures. Furthermore, creditors or beneficial interest holders of these structures have no recourse to the general credit of Newcastle. Therefore, Newcastle's exposure to the economic losses from such structures is limited to its invested equity in them and economically their book value cannot be less than zero. Therefore, impairment recorded in excess of Newcastle's investment, which results in negative GAAP book value for a given non-recourse financing structure, cannot economically be incurred and will eventually be reversed through amortization, sales at gains, or as gains at the deconsolidation or termination of such non-recourse financing structure.
[4] (C) See Schedule of Segment Other Non-Recourse Investments and Debt
[5] * An aggregate face amount of $69.5 million (carrying value of $61.0 million) of debt represents financing provided by the CDO segment (and included as investments in the CDO segment), which is eliminated upon consolidation.