Quarterly report pursuant to Section 13 or 15(d)

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES (Details)

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TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES (Details)
 1 Months Ended 3 Months Ended
Apr. 30, 2010
USD ($)
Secutiy
Mar. 31, 2016
USD ($)
contract
shares
Mar. 31, 2015
USD ($)
Dec. 31, 2015
USD ($)
Related Party Transaction [Line Items]        
Lease term   1 year    
Management fee earned   12 months    
Manager advisory fee   1.50%    
Management fees   $ 2,600,000 $ 2,600,000  
Expense reimbursement to the manager   $ 100,000 100,000  
Incentive compensation percentage   25.00%    
Simple interest rate in incentive calculation   10.00%    
Incentive compensation   $ 0 0  
Shares held by fortress and affiliates in newcastle (in shares) | shares   1,000,000    
Stock options outstanding (in shares) | shares   5,421,894    
Due to affiliates   $ 892,000   $ 892,000
Total securitized loans (unpaid principal balance)   649,041,000    
Investments in and advances to affiliates, at fair value, gross additions $ 75,000,000      
Expected yield 22.00%      
Real estate securities, available-for-sale   12,638,000   $ 59,034,000
Interest income   $ 21,039,000 27,078,000  
Affiliated Entity        
Related Party Transaction [Line Items]        
Stock options outstanding (in shares) | shares   5,100,000    
Real estate securities, available-for-sale   $ 149,900,000    
Interest income   $ 8,100,000 $ 4,500,000  
Subprime Portfolio I        
Related Party Transaction [Line Items]        
Servicing fee percentage   0.50%    
Total securitized loans (unpaid principal balance)   $ 266,657,000    
Subprime Portfolio II        
Related Party Transaction [Line Items]        
Total securitized loans (unpaid principal balance)   $ 382,384,000    
CDO        
Related Party Transaction [Line Items]        
Number of Securities 2 2    
Real estate securities, available-for-sale   $ 9,791,000