Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE - Carrying Values and Estimated Fair Value (Details)

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FAIR VALUE - Carrying Values and Estimated Fair Value (Details) - Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation By Asset Class Domain - Financing Receivable Recorded Investment Class Of Financing Receivable Domain - USD ($)
$ in Thousands
Jun. 30, 2015
Dec. 31, 2014
Jun. 30, 2014
Dec. 31, 2013
Financial Instruments        
Real estate securities, available-for-sale $ 65,499 $ 231,754    
Real estate securities, pledged as collateral 208,041 407,689    
Real estate related and other loans, held-for-sale, net 141,826 230,200    
Residential mortgage loans, held-for-sale, net 3,527 3,854    
Subprime mortgage loans subject to call option 404,149 406,217    
Restricted cash 3,385 15,714    
Cash and cash equivalents 114,338 73,727 $ 29,928 $ 42,721
Non-hedge derivative assets 8      
Financial Instruments        
CDO bonds payable 92,693 227,673    
Other bonds and notes payable 9,871 27,069    
Repurchase agreements 375,704 441,176    
Credit facilities and obligations under capital lease 165,006 161,474    
Financing of subprime mortgage loans subject to call option 404,149 406,217    
Junior subordinated notes payable 51,228 51,231    
Non-hedge derivatives 2,037 $ 4,328    
Carrying Value [Member]        
Financial Instruments        
Real estate securities, available-for-sale 65,499      
Real estate securities, pledged as collateral 208,041      
Real estate related and other loans, held-for-sale, net 141,826      
Residential mortgage loans, held-for-sale, net 3,527      
Subprime mortgage loans subject to call option [1] 404,149      
Restricted cash 3,385      
Cash and cash equivalents 114,338      
Non-hedge derivative assets [2] 8      
Financial Instruments        
CDO bonds payable [3] 92,693      
Other bonds and notes payable [3] 9,871      
Repurchase agreements 375,704      
Credit facilities and obligations under capital lease 165,006      
Financing of subprime mortgage loans subject to call option [1] 404,149      
Junior subordinated notes payable 51,228      
Non-hedge derivatives [2] 2,037      
Estimated Fair Value [Member]        
Financial Instruments        
Real estate securities, available-for-sale 65,499      
Real estate securities, pledged as collateral 208,041      
Real estate related and other loans, held-for-sale, net 157,898      
Residential mortgage loans, held-for-sale, net 3,576      
Subprime mortgage loans subject to call option [1] 404,149      
Restricted cash 3,385      
Cash and cash equivalents 114,338      
Non-hedge derivative assets [2] 8      
Financial Instruments        
CDO bonds payable [3] 14,447      
Other bonds and notes payable [3] 10,609      
Repurchase agreements 375,704      
Credit facilities and obligations under capital lease 149,626      
Financing of subprime mortgage loans subject to call option [1] 404,149      
Junior subordinated notes payable 40,033      
Non-hedge derivatives [2] $ 2,037      
[1] Represents an option, not an obligation, to repurchase loans from Newcastle's subprime mortgage loan securitizations (Note 6).
[2] Represents derivative liabilities including TBA forward contracts (Note 12).
[3] Newcastle notes that the unrealized gain on the liabilities within such structures cannot be fully realized. Assets held within CDOs and other non- recourse structures are generally 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. As a result, the fair value of Newcastle's net investments in these non-recourse financing structures is equal to the present value of their expected future net cash flows.