Rithm Capital (RITM) 10-K16 Feb 212020 FY Annual reportFinancial data

Company Profile

Cover

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 31, 2020	Feb. 10, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-35777
Entity Registrant Name	New Residential Investment Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3449660
Entity Address, Address Line One	1345 Avenue of the Americas
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10105
City Area Code	(212)
Local Phone Number	798-3150
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 3.1
Entity Common Stock, Shares Outstanding		414,797,263
Documents Incorporated by Reference	The information required by Part III (Items 10, 11, 12, 13 and 14) will be incorporated by reference from the registrant’s Definitive Proxy Statement for its 2021 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission pursuant to Regulation 14A.
Entity Central Index Key	0001556593
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2020
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	NRZ
Security Exchange Name	NYSE
7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Trading Symbol	NRZ PR A
Security Exchange Name	NYSE
7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Trading Symbol	NRZ PR B
Security Exchange Name	NYSE
6.375% Series C Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	6.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Trading Symbol	NRZ PR C
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Investments [Abstract]
Excess mortgage servicing rights, at fair value		$ 410,855	$ 505,343
Mortgage servicing rights, at fair value		3,489,675	3,967,960
Mortgage servicing rights financing receivables, at fair value		1,096,166	1,718,273
Servicer advance investments, at fair value	[1]	538,056	581,777
Real estate and other securities		14,244,558	19,477,728
Residential mortgage loans, held-for-investment, at fair value	[1]	1,359,754	1,753,251
Residential mortgage loans, held-for-investment, at fair value		5,215,703	6,042,664
Residential mortgage loans subject to repurchase	[2]	1,452,005	172,336
Cash and cash equivalents	[1]	944,854	528,737
Restricted cash		135,619	162,197
Servicer advances receivable		3,002,267	3,301,374
Trades receivable		4,180	5,256,014
Other assets	[1]	1,358,422	1,395,800
Total assets		33,252,114	44,863,454
Liabilities
Secured financing agreements		17,547,680	27,916,225
Secured noted and bonds payable	[1]	7,644,195	7,720,148
Residential mortgage loan repurchase liability	[2]	1,452,005	172,336
Unsecured senior notes, net of issuance costs		541,516	0
Trades payable		154	902,081
Due to affiliates		9,450	103,882
Dividends payable		90,128	211,732
Accrued expenses and other liabilities	[1]	537,302	600,790
Total liabilities		27,822,430	37,627,194
Commitments and Contingencies
Equity
Preferred Stock		812,992	423,444
Common Stock		4,148	4,156
Additional paid-in capital		5,547,108	5,498,226
Retained earnings (accumulated deficit)		(1,108,929)	549,733
Accumulated other comprehensive income (loss)		65,697	682,151
Total New Residential stockholders’ equity		5,321,016	7,157,710
Noncontrolling interests in equity of consolidated subsidiaries		108,668	78,550
Total Equity		5,429,684	7,236,260
Total Liabilities And Equity		$ 33,252,114	$ 44,863,454

[1]	See Note 14 regarding consolidated variable interest entities.
[2]	See Note 6 for details.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Residential mortgage loans, held-for-investment, fair value	$ 4,705,816	$ 4,613,612
Notes and bonds payable, fair value	$ 1,662,852	659,738
Preferred stock, par values (in dollars per share)	$ 0.01
Preferred stock, shares authorized (in shares)	100,000,000
Preferred stock, aggregate liquidation preference	$ 840,250	$ 437,750
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	2,000,000,000	2,000,000,000
Common stock, shares issued (in shares)	414,744,518	415,520,780
Common stock, shares outstanding (in shares)	414,744,518	415,520,780
7.50% Series A Preferred Stock, 7.125% Series B Preferred Stock, And 6.375% Series C Preferred Stock
Preferred stock, par values (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	39,100,000	39,100,000
Preferred stock, shares issued (in shares)	33,610,000	17,510,000
Preferred stock, shares outstanding (in shares)	33,610,000	17,510,000
Preferred stock, aggregate liquidation preference	$ 840,250	$ 437,750

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	1 Months Ended			12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues
Interest income				$ 1,102,537	$ 1,766,130	$ 1,664,223
Servicing revenue, net of change in fair value				(555,041)	385,159	528,595
Gain on originated mortgage loans, held-for-sale, net				1,399,092	460,107	86,065
Revenues				1,946,588	2,611,396	2,278,883
Expenses
Interest expense				584,469	933,751	606,433
General and administrative expenses				1,120,087	781,971	441,886
Management fee to affiliate				89,134	79,472	62,594
Incentive compensation to affiliate				0	91,892	94,900
Total expenses				1,793,690	1,887,086	1,205,813
Other income (loss)
Change in fair value of investments				(437,126)	(307,396)	(136,212)
Gain (loss) on settlement of investments, net				(930,131)	227,981	96,064
Earnings from investments in consumer loans, equity method investees				0	(1,438)	10,803
Other income (loss), net				(2,797)	39,819	(21,984)
Total other income (loss)				(1,370,054)	(41,034)	(51,329)
Impairment
Provision (reversal) for credit losses on securities				13,404	25,174	30,017
Valuation and credit loss provision (reversal) on loans and real estate owned (“REO”)				110,208	10,403	60,624
Total impairment				123,612	35,577	90,641
Income (Loss) Before Income Taxes				(1,340,768)	647,699	931,100
Income tax (benefit) expense				16,916	41,766	(73,431)
Net Income (Loss)				(1,357,684)	605,933	1,004,531
Noncontrolling interests in income of consolidated subsidiaries				52,674	42,637	40,564
Dividends on preferred stock				54,295	13,281	0
Net income (loss) attributable to common stockholders				$ (1,464,653)	$ 550,015	$ 963,967
Net Income (Loss) Per Share of Common Stock
Basic (in dollars per share)				$ (3.52)	$ 1.35	$ 2.82
Diluted (in dollars per share)				$ (3.52)	$ 1.34	$ 2.81
Weighted Average Number of Shares of Common Stock Outstanding
Basic (in shares)				415,513,187	408,789,642	341,268,923
Diluted (in shares)				415,513,187	408,990,107	343,137,361
Dividends Declared Per Share of Common Stock (in dollars per share)	$ 0.20	$ 0.50	$ 0.50	$ 0.50	$ 2	$ 2

CONSOLIDATED STATEMENTS OF IN_2

CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($)	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Servicing revenue, change in fair value	$ 1,889,741	$ 712,950	$ 191,245

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Comprehensive income (loss), net of tax
Net income	$ (1,357,684)	$ 605,933	$ 1,004,531
Other comprehensive income (loss)
Net unrealized gain (loss) on securities	123,855	445,943	(7,397)
Reclassification of net realized (gain) loss on securities into earnings	(740,309)	(180,815)	59,953
Total other comprehensive income (loss)	(616,454)	265,128	52,556
Total comprehensive income (loss)	(1,974,138)	871,061	1,057,087
Comprehensive income attributable to noncontrolling interests	52,674	42,637	40,564
Dividends on preferred stock	54,295	13,281	0
Comprehensive income (loss) attributable to common stockholders	$ (2,081,107)	$ 815,143	$ 1,016,523

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Retained Earnings (Accumulated Deficit)Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income	Total New Residential Stockholders’ Equity	Total New Residential Stockholders’ EquityCumulative Effect, Period of Adoption, Adjustment	Noncontrolling Interests in Equity of Consolidated Subsidiaries	Noncontrolling Interests in Equity of Consolidated SubsidiariesCumulative Effect, Period of Adoption, Adjustment	Common Stock	Common StockCommon Stock	Common StockAdditional Paid-in Capital	Common StockRetained Earnings (Accumulated Deficit)	Common StockTotal New Residential Stockholders’ Equity	Preferred Stock	Preferred StockPreferred Stock	Preferred StockRetained Earnings (Accumulated Deficit)	Preferred StockTotal New Residential Stockholders’ Equity
Balance, beginning (in shares) at Dec. 31, 2017			0	307,361,309
Balance, beginning at Dec. 31, 2017	$ 4,796,162		$ 0	$ 3,074	$ 3,763,188	$ 559,476		$ 364,467	$ 4,690,205		$ 105,957
Increase (Decrease) in Stockholders' Equity [Roll Forward]
2020 Warrants	0
Dividends declared on common stock													$ (692,730)			$ (692,730)	$ (692,730)
Capital distributions	(64,559)										(64,559)
Issuance stock (in shares)														57,991,659
Issuance of stock													982,062	$ 580	$ 981,482		982,062
Option exercise (in shares)				3,694,228
Option exercise				$ 37	(37)
Purchase of Noncontrolling Interest in the Buyer at a Discount	9,316				653				653		8,663
Other dilution	(63)				(63)				(63)
Director share grants (in shares)				57,233
Director share grants	1,020			$ 1	1,019				1,020
Comprehensive income (loss)
Net income (loss)	1,004,531					963,967			963,967		40,564
Net unrealized gain (loss) on securities	(7,397)							(7,397)	(7,397)
Reclassification of net realized (gain) loss on securities into earnings	59,953							59,953	59,953
Total comprehensive income (loss)	1,057,087								1,016,523		40,564
Balance, ending (in shares) at Dec. 31, 2018			0	369,104,429
Balance, ending at Dec. 31, 2018	6,088,295		$ 0	$ 3,692	4,746,242	830,713		417,023	5,997,670		90,625
Increase (Decrease) in Stockholders' Equity [Roll Forward]
2020 Warrants	0
Dividends declared on common stock													(830,995)			$ (830,995)	(830,995)
Dividends declared on preferred stock																		$ (13,281)		$ (13,281)	$ (13,281)
Capital distributions	$ (54,712)										(54,712)
Issuance stock (in shares)														46,000,000					17,510,000
Issuance of stock													751,393	$ 460	750,933		751,393	423,444	$ 423,444		423,444
Option exercise (in shares)	2,041,222			348,613
Option exercise				$ 3	(3)
Director share grants (in shares)				67,738
Director share grants	$ 1,055			$ 1	1,054				1,055
Comprehensive income (loss)
Net income (loss)	605,933					563,296			563,296		42,637
Net unrealized gain (loss) on securities	445,943							445,943	445,943
Reclassification of net realized (gain) loss on securities into earnings	(180,815)							(180,815)	(180,815)
Total comprehensive income (loss)	871,061								828,424		42,637
Balance, ending (in shares) at Dec. 31, 2019			17,510,000	415,520,780
Balance, ending at Dec. 31, 2019	$ 7,236,260	$ 30,453	$ 423,444	$ 4,156	5,498,226	549,733	$ 13,658	682,151	7,157,710	$ 13,658	78,550	$ 16,795
Comprehensive income (loss)
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
2020 Warrants	$ 53,462				53,462				53,462
Dividends declared on common stock	(207,667)					(207,667)			(207,667)
Dividends declared on preferred stock	(54,295)					(54,295)			(54,295)
Capital contributions	2,449										2,449
Capital distributions	$ (41,800)										(41,800)
Issuance stock (in shares)														97,394					16,100,000
Issuance of stock													1,663	$ 1	1,662		1,663	$ 389,548	$ 389,548		$ 389,548
Repurchase of common stock (in shares)														(1,000,000)
Repurchase of common stock													$ (7,462)	$ (10)	$ (7,452)		$ (7,462)
Option exercise (in shares)	0
Director share grants (in shares)				126,344
Director share grants	$ 1,211			$ 1	1,210				1,211
Net income (loss)	(1,357,684)					(1,410,358)			(1,410,358)		52,674
Net unrealized gain (loss) on securities	123,855							123,855	123,855
Reclassification of net realized (gain) loss on securities into earnings	(740,309)							(740,309)	(740,309)
Total comprehensive income (loss)	(1,974,138)								(2,026,812)		52,674
Balance, ending (in shares) at Dec. 31, 2020			33,610,000	414,744,518
Balance, ending at Dec. 31, 2020	$ 5,429,684		$ 812,992	$ 4,148	$ 5,547,108	$ (1,108,929)		$ 65,697	$ 5,321,016		$ 108,668

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Cash Flows From Operating Activities
Net income	$ (1,357,684)		$ 605,933		$ 1,004,531
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Change in fair value of Excess MSR	19,721		3,705		50,299
Change in fair value of MSR financing receivables	279,168		189,023		(31,550)
Change in fair value of servicer advance investments	(763)		(10,288)		89,332
Change in fair value of residential mortgage loans, at fair value	107,604		70,914		(69,820)
Change in fair value of secured notes and bonds payable	966		1,236		684
Change in fair value of real estate and other securities	(28,455)		(2,101)		(10,283)
Change in fair value of consumer loans	6,384		0		0
(Gain) loss on settlement of investments, net	863,898		(236,513)		(96,688)
Gain on sale of originated mortgage loans, held-for-sale, net	(1,399,092)		(460,107)		(86,065)
Bargain purchase gain	0		(49,539)		0
Earnings from investments in consumer loans, equity method investees	0		1,438		(10,803)
(Gain) loss on extinguishment of debt	66,233		8,532		624
Change in fair value of derivative instruments	53,467		56,143		108,234
Change in fair value of contingent consideration	6,568		10,487		1,581
Change in fair value of equity investments	54,455		3,096		677
(Gain) loss on transfer of loans to REO	(7,945)		(11,842)		(19,519)
(Gain) loss on transfer of loans to other assets	939		1,144		1,977
(Gain) loss on Ocwen common stock	(3,235)		(174)		10,860
Accretion and other amortization	(151,540)		(379,129)		(701,967)
Provision for credit losses on securities	13,404		25,174		30,017
Valuation and credit loss provision (reversal) on loans and real estate owned (“REO”)	110,208		10,403		60,624
Non-cash portions of servicing revenue, net	1,889,741		712,950		191,245
Non-cash directors’ compensation	1,211		1,055		1,020
Deferred tax provision	15,029		38,207		(80,054)
Changes in:
Servicer advances receivable, net	336,589		218,217		381,400
Other assets	73,139		(363,866)		(204,231)
Due to affiliates	(94,432)		2,411		12,510
Accrued expenses and other liabilities	(86,543)		182,153		186,311
Other operating cash flows:
Interest and distributions received from excess mortgage servicing rights assets	30,855		43,049		57,006
Interest received from servicer advance investments	19,322		28,437		33,821
Interest received from Non-Agency RMBS	170,151		264,694		219,704
Interest received from residential mortgage loans, held-for-investment	5,139		8,485		8,962
Interest received from consumer loans, held-for-investment	0		30,588		36,660
Purchases of residential mortgage loans, held-for-sale	(3,433,110)		(8,610,511)		(5,767,172)
Origination of residential mortgage loans, held-for-sale	(60,951,784)		(19,411,150)		(3,385,868)
Proceeds from sales of purchased and originated residential mortgage loans, held-for-sale	64,968,767		24,968,751		6,546,613
Principal repayments from purchased residential mortgage loans, held-for-sale	277,568		417,840		194,038
Net cash provided by (used in) operating activities	1,855,943		(1,622,548)		(1,229,114)
Cash Flows From Investing Activities
Business acquisitions, net of cash acquired	0		(1,223,233)		(123,185)
Purchase of servicer advance investments	(1,294,757)		(1,622,808)		(2,306,043)
Purchase of Non-Agency RMBS	(56,515)		(885,629)		(2,969,308)
Purchase of REO and other assets	(23,640)		(68,024)		(33,377)
Purchase of investment in consumer loans, equity method investees	0		(64,499)		(308,050)
Purchase of commercial real estate, equity method investees	0		0		(75,000)
Draws on revolving consumer loans	(33,041)		(54,375)		(63,971)
Payments for settlement of derivatives	(214,747)		(300,771)		(172,152)
Return of investments in Excess MSRs	58,970		68,613		74,154
Return of investments in equity method investments	0		92,748		300,056
Principal repayments from servicer advance investments	1,338,101		1,786,394		2,421,334
Principal repayments from Agency RMBS	1,101,564		2,085,283		111,202
Principal repayments from Non-Agency RMBS	407,996		1,294,010		939,690
Principal repayments from residential mortgage loans	139,561		113,602		147,403
Proceeds from sale of residential mortgage loans	0		41,622		25,511
Principal repayments from consumer loans	229,218		261,456		311,222
Principal repayments from MSRs and MSR financing receivables	80,838		51,470		0
Proceeds from sale of mortgage servicing rights	15,341		24,528
Proceeds from sale of Excess MSRs	1,142		10,095		19,064
Proceeds from sale of Agency RMBS	24,928,144		22,173,505		7,528,490
Proceeds from sale of Non-Agency RMBS	5,451,493		1,950,384		86,443
Proceeds from settlement of derivatives	164,417		108,472		242,422
Proceeds from sale of REO	79,108		138,910		140,301
Net cash provided by (used in) investing activities	8,645,441		(10,948,515)		(5,171,090)
Cash Flows From Financing Activities
Repayments of secured financing agreements	(122,526,887)		(196,120,793)		(85,915,552)
Repayments of warehouse credit facilities	(64,520,481)		(34,833,314)		(7,298,734)
Margin deposits under secured financing agreements and derivatives	(4,092,498)		(4,567,677)		(1,934,868)
Proceeds from issuance of term loan	592,400		0		0
Repayment of term loan	(600,000)		0		0
Proceeds from issuance of unsecured senior notes	544,400		0		0
Repayments of secured notes and bonds payable	(9,452,948)		(9,307,033)		(9,892,659)
Deferred financing fees	(43,705)		(6,705)		(12,498)
Common stock dividends paid	(332,479)		(807,788)		(661,859)
Preferred stock dividends paid	(51,088)		(9,334)		0
Borrowings under secured financing agreements	113,228,180		207,138,969		90,996,778
Borrowings under warehouse credit facilities	63,453,603		36,177,659		8,665,900
Return of margin deposits under secured financing agreements and derivatives	4,016,721		4,365,946		1,733,387
Borrowings under secured notes and bonds payable	9,380,533		9,706,864		9,770,909
Issuance of preferred stock	389,548		423,444		0
Issuance of common stock	1,735		752,217		983,149
Repurchase of common stock	(7,462)		0		0
Costs related to issuance of common stock	(72)		(824)		(1,087)
Noncontrolling interest in equity of consolidated subsidiaries - contributions	2,449		0		0
Noncontrolling interest in equity of consolidated subsidiaries - distributions	(41,800)		(54,712)		(64,559)
Payment of contingent consideration	(51,994)		(10,000)		0
Purchase of noncontrolling interests in the Buyer	0		0		925
Net cash provided by (used in) financing activities	(10,111,845)		12,846,919		6,369,232
Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash	389,539		275,856		(30,972)
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period	690,934		415,078		446,050
Cash, Cash Equivalents, and Restricted Cash, End of Period	1,080,473		690,934		415,078
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest	512,139		902,466		564,722
Cash paid during the period for income taxes	3,629		1,479		5,012
Supplemental Schedule of Non-Cash Investing and Financing Activities
Dividends declared but not paid	90,128		211,732
Warrants issued with term loan	53,462		0		0
Purchase of investments, primarily Agency and Non-Agency RMBS, settled after year end	154		902,081		2,048,348
Sale of investments, primarily Agency RMBS, settled after year end	4,180		5,256,014		3,925,198
Transfer from residential mortgage loans to real estate owned and other assets	69,812		95,640		109,527
Transfer from residential mortgage loans, held-for-investment to residential mortgage loans, held-for-sale	0		9,136		23,080
Non-cash distributions from LoanCo	0		0		25,739
Purchase price holdback	(45,013)		(25,245)		(697)
Contingent consideration	14,247		55,222
Ditech effective settlement of Preexisting Relationships	0		4,919		0
Real estate securities retained from loan securitizations	518,515		1,171,959		900,491
Residential mortgage loans subject to repurchase	1,452,005	[1]	172,336	[1]	121,602
Ocwen transaction - Excess MSRs	0		0		638,567
Ocwen transaction - servicer advance investments	0		0		3,175,891
Ocwen transaction - MSR financing receivables	0		0		1,017,993
MSRs, MSR financing receivables and servicer advance receivables
Cash Flows From Investing Activities
Purchase of MSRs, MSR financing receivables and servicer advance receivables	(539,889)		(1,450,375)		(1,194,467)
Agency RMBs
Cash Flows From Investing Activities
Purchase of Agency RMBS	(23,187,216)		(35,479,893)		(10,200,299)
Residential Mortgage Loans
Cash Flows From Investing Activities
Purchase of residential mortgage loans	0		0		(85,778)
MSRs
Cash Flows From Investing Activities
Proceeds from sale of mortgage servicing rights	11,282		1,539
Consumer Loans
Other operating cash flows:
Distributions of earnings, equity method investees	0		8,607		6,176
MSRs
Cash Flows From Investing Activities
Proceeds from sale of mortgage servicing rights	8,886		1,539		5,776
Shellpoint Acquisition
Supplemental Schedule of Non-Cash Investing and Financing Activities
Contingent consideration	0		0		39,300
Shellpoint Acquisition \| MSRs
Supplemental Schedule of Non-Cash Investing and Financing Activities
Purchase price holdback	0		0		8,173
Guardian Acquisition
Supplemental Schedule of Non-Cash Investing and Financing Activities
Contingent consideration	0		13,893		0
New Residential Mortgage LLC \| Mortgage Servicing Rights Financing Receivable
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Change in fair value of MSR financing receivables	279,168		189,023		(31,550)
Cash Flows From Investing Activities
Proceeds from sale of mortgage servicing rights	4,059		22,989
New Residential Mortgage LLC \| MSRs \| Mortgage Servicing Rights Financing Receivable
Cash Flows From Investing Activities
Proceeds from sale of mortgage servicing rights	5,808		22,989		7,472
Common Stock
Supplemental Schedule of Non-Cash Investing and Financing Activities
Dividends declared but not paid	82,949		207,761		184,552
Preferred Stock
Supplemental Schedule of Non-Cash Investing and Financing Activities
Dividends declared but not paid	$ 14,357		$ 3,971		$ 0

[1]	See Note 6 for details.

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	1 Months Ended			12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Accounting Standards Update [Extensible List]					us-gaap:AccountingStandardsUpdate201613Member
Dividends declared per share of common stock (in dollars per share)	$ 0.20	$ 0.50	$ 0.50	$ 0.50	$ 2	$ 2

ORGANIZATION

ORGANIZATION	12 Months Ended
ORGANIZATION	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION New Residential Investment Corp. (together with its subsidiaries, “New Residential,” or “the Company”) is a Delaware corporation that was formed as a limited liability company in September 2011 (commenced operations on December 8, 2011) for the purpose of making real estate related investments. New Residential is an independent publicly traded real estate investment trust (“REIT”) primarily focused on investing in residential mortgage related assets and is listed on the New York Stock Exchange (“NYSE”) under the symbol “NRZ.” New Residential has elected and intends to qualify to be taxed as a REIT for U.S. federal income tax purposes. As such, New Residential will generally not be subject to U.S. federal corporate income tax on that portion of its net income that is distributed to stockholders if it distributes at least 90% of its REIT taxable income to its stockholders by prescribed dates and complies with various other requirements. See Notes 2 and 19 for further discussion regarding New Residential’s taxable REIT subsidiaries. New Residential, through its wholly-owned subsidiaries New Residential Mortgage LLC (“NRM”) and NewRez LLC (“NewRez”), is licensed or otherwise eligible to service residential mortgage loans in all states within the United States and the District of Columbia. Each of NRM and NewRez is also approved to service mortgage loans on behalf of investors, including the Federal National Mortgage Association (“Fannie Mae”) and Federal Home Loan Mortgage Corporation (“Freddie Mac”) (collectively, Government Sponsored Enterprises or “GSEs”) and, solely in the case of NewRez, Government National Mortgage Association (“Ginnie Mae”). NewRez is also eligible to perform servicing on behalf of other servicers (subservicing). NewRez currently originates, sells and securitizes, or has in the past originated, sold, and securitized, conventional (conforming to the underwriting standards of Fannie Mae or Freddie Mac; collectively referred to as “Agency” loans), government-insured Federal Housing Administration (“FHA”) and Department of Veterans Affairs (“VA”), and U.S Department of Agriculture (“USDA”) and non-qualified (“Non-QM”) residential mortgage loans. The GSEs or Ginnie Mae guarantee securitizations are completed under their applicable policies and guidelines. New Residential generally retains the right to service the underlying residential mortgage loans sold and securitized by NewRez. NRM and NewRez are required to conduct aspects of their operations in accordance with applicable policies and guidelines published by FHA, Fannie Mae and Freddie Mac. New Residential has entered into a management agreement (the “Management Agreement”) with FIG LLC (the “Manager”), an affiliate of Fortress Investment Group LLC (“Fortress”), pursuant to which the Manager provides a management team and other professionals who are responsible for implementing New Residential’s business strategy, subject to the supervision of New Residential’s board of directors. For its services, the Manager is entitled to management fees and incentive compensation, both defined in, and in accordance with the terms of, the Management Agreement. See Note 16 for additional information. As of December 31, 2020, New Residential conducted its business through the following segments (i) Origination, (ii) Servicing, (iii) MSR Related Investments, (iv) Residential Securities and Loans, (v) Consumer Loans and (vi) Corporate.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Dec. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting — The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP’’ or “US GAAP”). The consolidated financial statements include the accounts of New Residential and its consolidated subsidiaries. All significant intercompany transactions and balances have been eliminated. New Residential consolidates those entities in which it has control over significant operating, financial and investing decisions of the entity, as well as those entities deemed to be variable interest entities (“VIEs”) in which New Residential is determined to be the primary beneficiary. For entities over which New Residential exercises significant influence, but which do not meet the requirements for consolidation, New Residential uses the equity method of accounting whereby it records its share of the underlying income of such entities. Distributions from equity method investees are classified in the Statements of Cash Flows based on the cumulative earnings approach, where all distributions up to cumulative earnings are classified as distributions of earnings. Reclassifications — Beginning in the second quarter of 2020, the Company changed its presentation of certain balance sheet and income statement line items to better reflect changes in the business and how the Company is viewed and managed. As a result, the presentation of certain prior period amounts have been reclassified to be consistent with the current period presentation. Such reclassifications had no impact on net income, total assets, total liabilities, or stockholders’ equity. Risks and Uncertainties — In the normal course of business, New Residential encounters primarily two significant types of economic risk: credit and market. Credit risk is the risk of default on New Residential’s investments that results from a borrower’s or counterparty’s inability or unwillingness to make contractually required payments. Market risk reflects changes in the value of investments due to changes in prepayment rates, interest rates, spreads or other market factors, including risks that impact the value of the collateral underlying New Residential’s investments. New Residential believes that the carrying values of its investments are reasonable taking into consideration these risks along with estimated prepayments, financings, collateral values, payment histories, and other information. Furthermore, for each of the periods presented, a significant portion of New Residential’s assets are dependent on its servicers’ and subservicers’ ability to perform their obligations servicing the loans underlying New Residential’s Excess MSRs, MSRs, MSR Financing Receivables, Servicer Advance Investments, Non-Agency RMBS and loans. If a servicer is terminated, New Residential’s right to receive its portion of the cash flows related to interests in servicing related assets may also be terminated. The outbreak of the novel coronavirus (“COVID-19”) pandemic around the globe continues to adversely impact the U.S. and world economies and has contributed to significant volatility in global financial and credit markets. The impact of the outbreak has evolved rapidly. The major disruptions caused by COVID-19 significantly slowed many commercial activities in the U.S., resulting in a rapid rise in unemployment claims, reduced business revenues and sharp reductions in liquidity and the fair value of many assets, including those in which the Company invests. The ultimate duration and impact of the COVID-19 pandemic and response thereto remains uncertain. New Residential is subject to significant tax risks. If New Residential were to fail to qualify as a REIT in any taxable year, New Residential would be subject to U.S. federal corporate income tax (including any applicable alternative minimum tax), which could be material. Unless entitled to relief under certain statutory provisions, New Residential would also be disqualified from treatment as a REIT for the four taxable years following the year during which qualification is lost. Use of Estimates — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Investment Consolidation and Transfers of Financial Assets — For each investment made, the Company evaluates the underlying entity that issued the securities acquired or to which the Company makes a loan to determine the appropriate accounting. A similar analysis is performed for each entity with which the Company enters into an agreement for management, servicing or related services. In performing the analysis, the Company refers to guidance in ASC 810-10, Consolidation . In situations where the Company is the transferor of financial assets, the Company refers to the guidance in ASC 860-10, Transfers and Servicing . In VIEs, an entity is subject to consolidation under ASC 810-10 if the equity investors either do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support, are unable to direct the entity’s activities or are not exposed to the entity’s losses or entitled to its residual returns. VIEs within the scope of ASC 810-10 are required to be consolidated by their primary beneficiary. The primary beneficiary of a VIE is determined to be the party that has both the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. This determination can sometimes involve complex and subjective analyses. Further, ASC 810-10 also requires ongoing assessments of whether an enterprise is the primary beneficiary of a VIE. In accordance with ASC 810-10, all transferees, including variable interest entities, must be evaluated for consolidation. If the Company determines that consolidation is not required, it will then assess whether the transfer of the underlying assets would qualify as a sale, should be accounted for as secured financings under GAAP, or should be accounted for as an equity method investment, depending on the circumstances. A Special Purpose Entity (“SPE”) is an entity designed to fulfill a specific limited need of the company that organized it. SPEs are often used to facilitate transactions that involve securitizing financial assets or resecuritizing previously securitized financial assets. The objective of such transactions may include obtaining non-recourse financing, obtaining liquidity or refinancing the underlying securitized financial assets on improved terms. Securitization involves transferring assets to an SPE to convert all or a portion of those assets into cash before they would have been realized in the normal course of business through the SPE’s issuance of debt or equity instruments. Investors in an SPE usually have recourse only to the assets in the SPE and depending on the overall structure of the transaction, may benefit from various forms of credit enhancement, such as over-collateralization in the form of excess assets in the SPE, priority with respect to receipt of cash flows relative to holders of other debt or equity instruments issued by the SPE, or a line of credit or other form of liquidity agreement that is designed with the objective of ensuring that investors receive principal and/or interest cash flow on the investment in accordance with the terms of their investment agreement. The Company may periodically enter into transactions in which it transfers assets to a third party. Upon a transfer of financial assets, the Company will sometimes retain or acquire subordinated interests in the related assets. Pursuant to ASC 860-10, a determination must be made as to whether a transferor has surrendered control over transferred financial assets. That determination must consider the transferor’s continuing involvement in the transferred financial asset, including all arrangements or agreements made contemporaneously with, or in contemplation of, the transfer, even if they were not entered into at the time of the transfer. The financial components approach under ASC 860-10 limits the circumstances in which a financial asset, or portion of a financial asset, should be derecognized when the transferor has not transferred the entire original financial asset to an entity that is not consolidated with the transferor in the financial statements being presented and/or when the transferor has continuing involvement with the transferred financial asset. It defines the term “participating interest” to establish specific conditions for reporting a transfer of a portion of a financial asset as a sale. Under ASC 860-10, after a transfer of financial assets that meets the criteria for treatment as a sale-legal isolation, ability of transferee to pledge or exchange the transferred assets without constraint and transferred control-an entity recognizes the financial and servicing assets it acquired or retained and the liabilities it has incurred, derecognizes financial assets it has sold and derecognizes liabilities when extinguished. The transferor would then determine the gain or loss on sale of financial assets by allocating the carrying value of the underlying mortgage between securities or loans sold and the interests retained based on their fair values. The gain or loss on sale is the difference between the cash proceeds from the sale and the amount allocated to the securities or loans sold. When a transfer of financial assets does not qualify for sale accounting, ASC 860-10 requires the transfer to be accounted for as a secured borrowing with a pledge of collateral. From time to time, the Company may securitize mortgage loans it holds if such financing is available. Depending upon the structure of the securitization transaction, these transactions will be recorded in accordance with ASC 860-10 and will be accounted for as either a sale and the loans will be removed from the Consolidated Balance Sheets or as a financing and the loans will remain on the Consolidated Balance Sheets. ASC 860-10 is a standard that may require the Company to exercise significant judgment in determining whether a transaction should be recorded as a sale or a financing Excess MSRs — Excess MSRs refer to the excess servicing spread related to mortgage servicing rights, whose underlying collateral is securitized in a trust. Upon acquisition, New Residential has elected to record each of such investments at fair value. New Residential elected to record its investments at fair value in order to provide users of the financial statements with better information regarding the effects of prepayment risk and other market factors on Excess MSRs. Under this election, New Residential records a valuation adjustment on its Excess MSRs on a quarterly basis to recognize the changes in fair value in net income. Excess MSRs are aggregated into pools as applicable; each pool of Excess MSRs is accounted for in the aggregate. Interest income for Excess MSRs is accreted into interest income on an effective yield or “interest” method, based upon the expected excess mortgage servicing amount through the expected life of the underlying mortgages. Changes to expected cash flows result in a cumulative retrospective adjustment, which will be recorded in the period in which the change in expected cash flows occurs. Under the retrospective method, the interest income recognized for a reporting period is measured as the difference between the amortized cost basis at the end of the period and the amortized cost basis at the beginning of the period, plus any cash received during the period. The amortized cost basis is calculated as the present value of estimated future cash flows using an effective yield, which is the yield that equates all past actual and current estimated future cash flows to the initial investment. In addition, New Residential’s policy is to recognize interest income only on its Excess MSRs in existing eligible underlying mortgages. The difference between the fair value of Excess MSRs and their amortized cost basis is recorded as Change in fair value of investments. Fair value is generally determined by discounting the expected future cash flows using discount rates that incorporate the market risks and liquidity premium specific to the Excess MSRs, and therefore may differ from their effective yields. MSRs — MSRs represent the contractual right to service mortgage loans. The Company recognizes MSRs created through the sale of loans it originates. Under the accounting guidance for transfers and servicing, the Company initially measures a mortgage servicing asset that qualifies for separate recognition at fair value on the date of transfer. New Residential elected to record its investments at fair value in order to provide users of the financial statements with better information regarding the effects of prepayment risk and other market factors on MSRs. Under this election, New Residential records a valuation adjustment on its MSRs on a quarterly basis to recognize the changes in fair value in net income. MSRs are aggregated into pools as applicable; each pool of MSRs is accounted for in the aggregate. Income from MSRs is recorded in Servicing revenue, net of change in fair value and comprises (i) income from the MSRs, plus or minus (ii) the mark-to-market on the MSRs including change in fair value due to realization of cash flows. Fair value is generally determined by discounting the expected future cash flows using discount rates that incorporate the market risks and liquidity premium specific to the MSRs. MSR Financing Receivables — In certain cases, New Residential has legally purchased MSRs or the right to the economic interest in MSRs; however, New Residential has determined that the purchase agreement would not be treated as a sale under GAAP. Therefore, rather than recording an investment in MSRs, New Residential records an investment in mortgage servicing rights financing receivables. Income from this investment (net of subservicing fees) is recorded as interest income, and New Residential has elected to measure the investment at fair value, with changes in fair value flowing through Change in fair value of investments in the Consolidated Statements of Income. Servicer Advance Investments — New Residential accounts for its Servicer Advance Investments similarly to its Excess MSRs. Interest income for Servicer Advance Investments is accreted into interest income on an effective yield or “interest” method, based upon the expected aggregate cash flows of the Servicer Advance Investments, including the basic fee component of the related MSR (but excluding any Excess MSR component) through the expected life of the underlying mortgages, net of a portion of the basic fee component of the MSR that New Residential remits to the servicer as compensation for the servicer’s servicing activities. Changes to expected cash flows result in a cumulative retrospective adjustment, which is recorded in the period in which the change in expected cash flows occurs. Refer to “—Excess MSRs” for a description of the retrospective method. Fair value is generally determined by discounting the expected future cash flows using discount rates that incorporate the market risks and liquidity premium specific to the Servicer Advance Investments, and therefore may differ from their effective yields. Real Estate and Other Securities — Agency and Non-Agency RMBS are classified as either available-for-sale or accounted for under the fair value option. The Company determines the appropriate classification of its securities at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. If classified as available-for-sale, investments are carried at fair value, with net unrealized gains or losses reported as a component of accumulated other comprehensive income. If classified under the fair value option, changes in fair value are recorded in the Consolidated Statements of Income as a component of Change in fair value of investments. Fair value is determined under the guidance of ASC 820, Fair Value Measurements and Disclosures . Management’s judgment is used to arrive at the fair value of the Company’s RMBS investments, taking into account prices obtained from third-party pricing providers and other applicable market data. The third-party pricing providers use pricing models that generally incorporate such factors as coupons, primary and secondary mortgage rates, rate reset periods, issuer, prepayment speeds, credit enhancements and expected life of the security. The Company’s application of ASC 820 guidance is discussed in further detail in Note 13. Investment securities transactions are recorded on the trade date. At disposition, the net realized gain or loss is determined on the basis of the cost of the specific investment and is included in net income. There are several different accounting models that may be applicable for purposes of the recognition of interest income on RMBS depending on whether the security is designated as available-for-sale or fair value option. The following accounting models apply to RMBS classified as available-for-sale: (i) RMBS of high credit quality rated ‘AA’ or higher that, at the time of purchase, the Company expects to collect all contractual cash flows and the security cannot be contractually prepaid in such a way that the Company would not recover substantially all of its recorded investment. (ii) Non-Agency RMBS which are not of high credit quality at the time of purchase or that can be contractually prepaid or otherwise settled in such a way that the Company would not recover substantially all of its recorded investment. For RMBS of high credit quality accounted for under (i) above, the Company recognizes interest income by applying the permitted “interest method,” whereby purchase premiums and discounts are amortized and accreted, respectively, as an adjustment to contractual interest income accrued at each security’s stated coupon rate. The interest method is applied at the individual security level based upon each security’s effective interest rate. The Company calculates each security’s effective interest rate at the time of purchase by solving for the discount rate that equates the present value of that security's remaining contractual cash flows (assuming no principal prepayments) to its purchase price. Because each security’s effective interest rate does not reflect an estimate of future prepayments, the Company refers to this manner of applying the interest method as the “contractual effective interest method.” When applying the contractual effective interest method to its investments in RMBS, as principal prepayments occur, a proportional amount of the unamortized premium or discount is recognized in interest income such that the contractual effective interest rate on the remaining security balance is unaffected. For Non-Agency RMBS accounted for under (ii) above, the Company recognizes interest income by applying the required prospective level-yield methodology. Interest income under this methodology is impacted by management judgments around both the amount and timing of credit losses (defaults) and prepayments. Consequently, interest income on these Non-Agency RMBS is recognized based on the timing and amount of cash flows expected to be collected, as opposed to being based on contractual cash flows. These securities are generally purchased at a discount to the principal amount. At the original acquisition date, the Company estimates the timing and amount of cash flows expected to be collected and calculates the present value of those amounts to the Company’s purchase price. In each subsequent balance sheet date, the Company revises its estimates of the remaining timing and amount of cash flows expected to be collected. If there is a positive change in the amount and timing of future cash flows expected to be collected from the previous estimate, the effective interest rate in future accounting periods may increase resulting in an increase in the reported amount of interest income in future periods. A positive change in the amount and timing of future cash flows expected to be collected is considered to have occurred when the net present value of future cash flows expected to be collected has increased from the previous estimate. This can occur from a change in either the timing of when cash flows are expected to be collected (i.e., from changes in prepayment speeds or the timing of estimated defaults) or in the amount of cash flows expected to be collected (i.e., from reductions in estimates of future defaults). If there is a negative or adverse change in the amount and timing of future cash flows expected to be collected from the previous estimate, and the security's fair value is below its amortized cost, an impairment loss equal to the adverse change in cash flows expected to be collected, discounted using the security's effective rate before impairment, is required to be recorded in current period earnings. Additionally, while the effective interest rate used to accrete interest income after an impairment has been recognized will generally be the same, the amount of interest income recorded in future periods will decline because of the reduced balance of the amortized cost basis of the investment to which such effective interest rate is applied. The following accounting models apply to RMBS accounted for under the fair value option: (iii) RMBS of high credit quality rated ‘AA’ or higher that, at the time of purchase, the Company expects to collect all contractual cash flows and the security cannot be contractually prepaid in such a way that the Company would not recover substantially all of its recorded investment. (iv) Non-Agency RMBS which are not of high credit quality at the time of purchase or that can be contractually prepaid or otherwise settled in such a way that the Company would not recover substantially all of its recorded investment. Interest income on RMBS accounted for in (iii) above is recognized based on the stated coupon rate and the outstanding principal amount. The original purchase premium or discount is not amortized or accreted as part of interest income but rather reflected as part of the security’s fair value. Interest income on Non-Agency RMBS accounted for in (iv) above is recognized in accordance with the model described in (ii) above. In June 2016, FASB issued ASU 2016-13, Financial Instruments - Credit Losses (“CECL”). This new guidance changed how entities measure credit losses for most financial assets that are not measured at fair value with changes in fair value recognized through net income. The Company adopted the new guidance as of January 1, 2020. The new guidance specifically excludes available-for-sale securities measured at fair value, with changes in fair value recognized through net income. Accordingly, the impact of the new guidance on accounting for the Company's debt securities was limited to recognition of effective yield which was historically impacted by other than temporary impairment recorded under standards prior to the adoption of CECL. As the new guidance eliminates the accounting for other than temporary impairment, this guidance impacted the Company's unrealized and realized gain (loss) amounts. Refer to the Recent Accounting Pronouncements section regarding the impact of the adoption of the standard on the Company’s consolidated financial statements. Subsequent to the adoption of CECL on January 1, 2020, the Company evaluates its RMBS classified as available-for-sale on a quarterly basis to assess whether a decline in the fair value below the amortized cost basis should be recognized in net income or other comprehensive income. The presence of an impairment is based upon a fair value decline below a security’s amortized cost basis and a corresponding adverse change in expected cash flows due to credit related factors as well as non-credit factors, such as changes in interest rates and market spreads. A security is considered to be impaired if the Company (i) intends to sell the security, (ii) will more likely than not be required to sell the security before recovering its cost basis, or (iii) does not expect to recover the security’s entire amortized cost basis, even if the Company does not intend to sell the security, or the Company believes it is more likely than not that it will be required to sell the security before recovering its cost basis. Under these scenarios, the full amount of impairment is recognized currently in net income and the cost basis of the security is adjusted. However, if the Company does not intend to sell the impaired security and it is more likely than not that it will not be required to sell before recovery, the impairment is separated into (i) the estimated amount relating to credit loss, or the credit component, and (ii) the amount relating to all other factors, or the non-credit component. Credit related impairment is recognized as an allowance on the balance sheet with a corresponding adjustment to net income, with the remainder of the loss recognized in accumulated other comprehensive income (loss). The allowance for credit loss as well as adjustment to net income can be reversed for subsequent changes in the estimate of expected credit loss. Impairment has been classified within Provision (reversal) for credit losses on securities in the Consolidated Statements of Income. Prior to the adoption of ASU 2016-13, the Company accounted for its securities under ASC 310 and ASC 325 and evaluated securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis. The determination of whether a security was other-than-temporarily impaired involved judgments and assumptions based on subjective and objective factors. When the fair value of a real estate security was less than its amortized cost at the balance sheet date, the security was considered impaired, and the impairment was designated as either "temporary" or “other-than-temporary.” When a real estate security was impaired, an OTTI was considered to have occurred if (i) the Company intended to sell the security (i.e., a decision has been made as of the reporting date) or (ii) it was more likely than not that the Company was required to sell the security before recovery of its amortized cost basis. If the Company intended to sell the security or if it was more likely than not that the Company was required to sell the real estate security before recovery of its amortized cost basis, the entire amount of the impairment loss, if any, was recognized in net income as a realized loss and the cost basis of the security was adjusted to its fair value. Additionally, for securities accounted for under ASC 325-40 an OTTI was deemed to have occurred when there was an adverse change in the expected cash flows to be received and the fair value of the security was less than its carrying amount. In determining whether an adverse change in cash flows occurred, the present value of the remaining cash flows, as estimated at the initial transaction date (or the last date previously revised), was compared to the present value of the expected cash flows at the current reporting date. The estimated cash flows reflected those a “market participant” would use and included observations of current information and events, and assumptions related to fluctuations in interest rates, prepayment speeds and the timing and amount of potential credit losses. Cash flows were discounted at a rate equal to the current yield used to accrete interest income. Any resulting OTTI adjustments were reflected in the Provision (reversal) for credit losses on securities line item in the Consolidated Statements of Income. The determination as to whether an OTTI existed was subjective, given that such determination was based on information available at the time of assessment as well as the Company’s estimate of the future performance and cash flow projections for the individual security. As a result, the timing and amount of an OTTI constituted an accounting estimate that could change materially over time. Increases in interest income could have been recognized on a security on which the Company previously recorded an OTTI charge if the performance of such security subsequently improved . Residential Mortgage Loans and Consumer Loans — The Company's loan portfolio primarily consists of residential mortgage and consumer loans. The Company’s loans are classified as (i) held-for-investment at fair value, (ii) held-for-sale at fair value or (iii) held-for-sale at lower of cost or fair value. Loans are also eligible to be accounted for under the fair value option which are recorded on the Consolidated Balance Sheets at fair value and the periodic changes in fair value is recorded as a component of Change in fair value of investments in the Statements of Income. When the Company has the intent and ability to hold loans for the foreseeable future or to maturity/payoff, such loans are classified as held for investment. When the Company has the intent to sell loans, such loans are classified as held for sale. For originated residential mortgage loans measured at fair value, New Residential reports the change in the fair value within Gain on originated mortgage loans, held-for-sale, net in the Consolidated Statements of Income. Fair value is generally determined using a market approach by utilizing either (i) the fair value of securities backed by similar mortgage loans, adjusted for certain factors to approximate the fair value of a whole mortgage loan, (ii) current commitments to purchase loans or (iii) recent observable market trades for similar loans, adjusted for credit risk and other individual loan characteristics. For acquired residential mortgage loans measured at fair value, New Residential reports the change in the fair value within Change in fair value of investments in the Consolidated Statements of Income. Fair value is generally determined by discounting the expected future cash flows using inputs such as default rates, prepayment speeds and discount rates. For loans measured at the lower of cost or fair value, the Company accounts for any excess of cost over fair value as a valuation allowance and include changes in the valuation allowance in Valuation and credit loss provision (reversal) on loans and real estate owned (“REO”) in the Consolidated Statements of Income in the period in which the change occurs. Purchase price discounts or premiums are deferred in a contra loan account until the related loan is sold. The deferred discounts or premiums are an adjustment to the basis of the loan and are included in the quarterly determination of the lower of cost or fair value adjustments and/or the gain or loss recognized at the time of sale. Interest earned on residential mortgage loans measured at fair value are reported in Interest income in the Consolidated Statements of Income. As allowed upon adoption of CECL on January 1, 2020, New Residential elected to apply the fair value option for all consumer loans. The fair value option provides an election which allows a company to irrevocably elect fair value for certain financial asset and liabilities on an instrument-by-instrument basis. The Company elected the fair value option for these loans to better align reported results with the underlying economic changes in value of the loans on the Company’s Consolidated Balance Sheets. Refer to the Recent Accounting Pronouncements section regarding the impact of the adoption of the standard on the Company’s consolidated financial statements. Unrealized gains (losses) from the change in fair value of consumer loans are recognized in Change in fair value of investments in the Consolidated Statements of Income. Realized gains (losses) are recorded in Gain on settlement of investments, net in the Consolidated Statements of Income. Interest income is recognized over the life of the loan using the effective interest method and is recorded on the accrual basis. Subsequent to the adoption of CECL on January 1, 2020, the C

BUSINESS ACQUISITIONS

BUSINESS ACQUISITIONS	12 Months Ended
BUSINESS ACQUISITIONS	Dec. 31, 2020
Business Combinations [Abstract]
BUSINESS ACQUISITIONS	BUSINESS ACQUISITIONS New Residential completed the Shellpoint acquisition in 2018 and the Guardian and Ditech acquisitions in 2019 as part of its strategy to expand its residential origination, servicing and asset management capabilities. New Residential accounted for these transactions using the acquisition method which requires, among other things, that the assets acquired and liabilities assumed be recognized at fair value as of the acquisition date. In a business combination, the initial allocation of the purchase price is considered preliminary and therefore subject to change until the end of the measurement period (up to one year from the acquisition date). Goodwill is calculated as the excess of the purchase price over the net assets recognized and represents synergies and benefits expected to result from combining operations and adding in-house servicing, asset origination and recapture capabilities. Purchase Price Allocation New Residential has performed an allocation of the total consideration paid to acquire the assets and liabilities of the companies acquired, as set forth below. 2019 2018 Ditech Guardian Total Shellpoint Total Consideration ($ in millions) $ 1,218.2 $ 21.5 $ 1,239.7 $ 425.5 Assets Mortgage servicing rights, at fair value (A) $ 387.2 $ — $ 387.2 $ 286.6 Residential mortgage loans, held-for-investment, at fair value — — — 125.3 Residential mortgage loans, held-for-sale, at fair value 627.4 — 627.4 488.2 Residential mortgage loans subject to repurchase — — — 121.4 Cash and cash equivalents — 1.8 1.8 79.2 Restricted cash — — — 9.9 Servicer advance receivable 238.0 — 238.0 22.4 Intangible assets (B) (C) (D) 10.5 11.7 22.2 18.4 Other assets (E) 64.8 6.6 71.4 59.1 Total Assets Acquired $ 1,327.9 $ 20.1 $ 1,348.0 $ 1,210.5 Liabilities Secured financing agreements $ — $ — $ — $ 439.6 Secured notes and bonds payable — — — 20.7 Mortgage-backed securities issued, at fair value — — — 120.7 Residential mortgage loans repurchase liability — — — 121.4 Excess spread financing, at fair value — — — 48.3 Accrued expenses and other liabilities 60.2 3.7 63.9 50.6 Total Liabilities Assumed $ 60.2 $ 3.7 $ 63.9 $ 801.3 Noncontrolling Interest $ — $ — $ — $ 8.3 Net Assets $ 1,267.7 $ 16.4 $ 1,284.1 $ 400.9 Goodwill (bargain purchase gain) $ (49.5) $ 5.1 $ (44.4) $ 24.6 (A) Includes $135.3 million of Ginnie Mae MSRs related to the Shellpoint acquisition where New Residential acquired the rights to the economic value of the servicing rights from Shellpoint prior to the acquisition date. (B) Includes intangible assets acquired as part of the Ditech acquisition in the form of correspondent customer relationships and servicing contracts tied to the recovery of defaulted loans. These intangibles will be amortized over a finite life of three years based on the expected useful life of these intangibles. (C) Includes intangible assets acquired as part of the Guardian acquisition in the form of customer relationships and a tradename. Customer relationships will be amortized over a finite life of seven years based on the expected useful life of these intangibles. New Residential has determined that the tradename has an indefinite useful life and will be evaluated for impairment given no legal, regulatory, contractual, competitive or economic factors that would limited useful life. (D) Includes intangible assets acquired as part of the Shellpoint acquisition in the form of mortgage origination and servicing licenses, internally developed software and a tradename. New Residential determined that mortgage origination and servicing licenses have an indefinite useful life and will be evaluated for impairment given no legal, regulatory, contractual, competitive or economic factors that would limit the useful life. Internally developed software will be amortized over a finite useful life of five years and tradenames were fully amortized over six months, respectively, based on the expected software development timeline and New Residential’s determination of the time to change a tradename with limited value. (E) Includes post loan charge off deficiency balances acquired through the Ditech Acquisition. Acquisition of Select Assets and Liabilities from Ditech Holding Corporation On June 17, 2019, New Residential, entered into a “stalking-horse” Asset Purchase Agreement (the “APA”) with Ditech Holding Corporation, a Maryland corporation (“Holding”), and Ditech Financial LLC, a Delaware limited liability company (“Financial” and together with Holding, the “Sellers” or “Ditech”) to acquire certain assets and assume certain liabilities under the APA based on the value of the acquired assets and assumed liabilities as calculated in accordance with the terms of the APA, subject to certain adjustments. Ditech filed voluntary petitions for relief under Chapter 11 of the Bankruptcy code, in the United States Bankruptcy Court for the Southern District of New York (“Bankruptcy Court”). The proposed sale was conducted through a Bankruptcy Court-supervised process, subject to Bankruptcy Court-approved bidding procedures, with the potential receipt of higher or better offers from competing bidders at auction, the approval of the sale by the Bankruptcy Court, and the satisfaction of certain conditions. As the stalking horse bidder, the Company’s offer to acquire the assets and assume the liabilities, as set forth in the APA, set the standard by which any other qualifying bids would be evaluated. Upon conclusion of the competitive bidding process, Ditech decided to proceed with New Residential’s stalking horse bid, as amended and sought the Bankruptcy Court’s approval. On October 1, 2019, New Residential Investment Corp (“Ditech Purchaser”) completed the acquisition (“Ditech Acquisition”) contemplated by the APA dated June 17, 2019, as amended, by and among the Ditech Purchaser and Ditech. Pursuant to the APA, Ditech sold, transferred, and assigned to the Ditech Purchaser (and its certain designated subsidiaries) the acquired assets, as defined in the APA, and the Ditech Purchaser (and its certain designated subsidiaries) assumed the liabilities, as defined in the APA, for cash consideration of $1.2 billion. The acquisition included certain Fannie Mae, Ginnie Mae and non-agency MSRs, the servicer advance receivables relating to such MSRs and other assets core to certain origination and servicing businesses at Ditech. Additionally, New Residential assumed certain Ditech office spaces and added approximately 1,100 Ditech employees to support the increase in volume to its existing origination and servicing operations. The acquisition of assets from the bankruptcy estate of Ditech along with the subsequent hiring of Ditech employees was accounted for as a business acquisition rather than an asset acquisition. Upon completing the Ditech Acquisition, the consideration transferred by the Ditech Purchaser for the acquired assets and assumed liabilities was determined to be less than the net assets acquired from Ditech resulting in an economic gain (“Bargain Purchase”). New Residential completed the required reassessment to validate that all assets acquired and liabilities assumed on the acquisition date had been identified and appropriately measured in accordance with ASC 805. Based on the reassessment, the transaction resulted in a Bargain Purchase gain of $49.5 million, which has been included in Other income (loss), net in the Consolidated Statements of Income for the year ended December 31, 2019. The Bargain Purchase gain resulted from certain transition, integration, relocation and training costs that were factored into the purchase price and identified as future liabilities, of which approximately $22.9 million were incurred during the year ended December 31, 2019. The acquisition date fair value of the consideration transferred includes $1.2 billion in cash consideration and $4.9 million in effective settlement of preexisting relationships. The total consideration is summarized as follows: Total Consideration (in millions) Amount Cash Consideration $ 1,213.3 Effective Settlement of Preexisting Relationships (A) 4.9 Total Consideration $ 1,218.2 (A) Represents the effective settlement of preexisting relationships between New Residential and Ditech related to operating accounts receivable and payable existing prior to the acquisition date. The effective settlement of these preexisting relationships had no impact to New Residential’s Consolidated Statements of Income. New Residential recognized the effective settlement of preexisting relationships separately from the acquisition of assets and assumption of liabilities in the business combination. Unaudited Supplemental Pro Forma Financial Information — The following table presents unaudited pro forma combined Servicing and Origination Revenue, which is comprised of (i) servicing revenue, net and (ii) gain on originated mortgage loans, held-for-sale, net, and Income Before Income Taxes for the years ended December 31, 2019 and 2018 prepared as if the Ditech Acquisition had been consummated on January 1, 2018. Year Ended December 31, 2019 2018 Pro Forma (in millions) Servicing and Origination Revenue $ 1,104.0 $ 1,238.1 Income Before Income Taxes 552.8 923.3 The unaudited supplemental pro forma financial information has not been adjusted for transactions other than the Ditech Acquisition, or for the conforming of accounting policies. The unaudited supplemental pro forma financial information does not include any anticipated synergies or other anticipated benefits of the Ditech Acquisition and, accordingly, the unaudited supplemental pro forma financial information is not necessarily indicative of either future results of operations or results that might have been achieved had the Ditech Acquisition occurred on January 1, 2018. Acquisition of Guardian Asset Management On August 19, 2019, NRZ Guardian Purchaser LLC (“Guardian Purchaser”), entered into an agreement to acquire 100% of the shares of DDG RE Investments LLC d/b/a Guardian Asset Management (“Guardian”). On September 3, 2019, the Guardian Purchaser acquired 100% of the outstanding interests of Guardian for cash consideration of $7.6 million (“Guardian Acquisition”). As additional consideration for the Guardian Acquisition, the Guardian Purchaser may make up to four cash earnout payments, which will be calculated as the amount of cumulative Guardian earnings on specified contracts in excess of certain thresholds up to a maximum of $17.5 million (the “Guardian Earnout Payments”). The Guardian Earnout Payments are classified as contingent consideration recorded at fair value at the acquisition date and included in the total consideration transferred for the Guardian Acquisition. The contingent consideration is subsequently measured at fair value on a quarterly basis with changes in fair value recorded in Other income (loss), net. On April 10, 2020, New Residential made its first Guardian Earnout Payment of $1.9 million. Guardian is a field services and asset management business and provides New Residential with in-house property management, inspection and repair service capabilities. The acquisition date fair value of the consideration transferred includes $7.6 million in cash consideration and $13.9 million in contingent consideration. The total consideration is summarized as follows: Total Consideration (in millions) Amount Cash Consideration $ 7.6 Earnout Payment (A) 13.9 Total Consideration $ 21.5 (A) The range of outcomes for this contingent consideration is from $0 to $17.5 million dependent on the performance of Guardian. The goodwill of $5.1 million primarily includes the benefits expected to result from adding in-house property management and repair services has been allocated to the Servicing reporting segment. The full amount of goodwill of $5.1 million is expected to be deductible for tax purposes. New Residential will assess the goodwill annually on October 1 and in interim periods in case of events or circumstances make it more likely than not that an impairment may have occurred. Unaudited Supplemental Pro Forma Financial Information — The following table presents unaudited pro forma combined Income Before Income Taxes for the years ended December 31, 2019 and 2018 prepared as if the Guardian Acquisition had been consummated on January 1, 2018. Year Ended December 31, 2019 2018 Pro Forma (in millions) Income Before Income Taxes $ 651.5 $ 932.2 The unaudited supplemental pro forma financial information has not been adjusted for transactions other than the Guardian Acquisition, or for the conforming of accounting policies. The unaudited supplemental pro forma financial information does not include any anticipated synergies or other anticipated benefits of the Guardian Acquisition and, accordingly, the unaudited supplemental pro forma financial information is not necessarily indicative of either future results of operations or results that might have been achieved had the Guardian Acquisition occurred on January 1, 2018. Acquisition of Shellpoint Partners LLC On November 29, 2017, NRM Acquisition LLC (the “Shellpoint Purchaser”), a Delaware limited liability company and a wholly owned subsidiary of New Residential, entered into a Securities Purchase Agreement (the “Shellpoint SPA”) to acquire Shellpoint Partners LLC, a Delaware limited liability company (“Shellpoint”). Shellpoint is a vertically integrated mortgage platform with established origination and servicing capabilities and provides New Residential with in-house servicing, asset origination and recapture capabilities. On July 3, 2018, the Shellpoint Purchaser acquired 100% of the outstanding equity interests of Shellpoint for a cash purchase price of $212.3 million (the “Shellpoint Acquisition”). As additional consideration for the Shellpoint Acquisition, the Shellpoint Purchaser may make up to three cash earnout payments, which will be calculated following each of the first three anniversaries of the Shellpoint closing as a percentage of the amount by which the pre-tax income of certain of Shellpoint’s businesses exceeds certain specified thresholds, up to an aggregate maximum amount of $60.0 million (the “Shellpoint Earnout Payments”). The Shellpoint Earnout Payments are classified as contingent consideration recorded at fair value at the acquisition date and included in the total consideration transferred for the Shellpoint Acquisition. The contingent consideration is subsequently measured at fair value on a quarterly basis with changes in fair value recorded in Other income (loss), net. As of December 31, 2020, New Residential had paid out the entire amount of the Shellpoint Earnout Payments. The acquisition date fair value of the consideration transferred includes $212.3 million in cash consideration, $39.3 million in contingent consideration and $173.9 million in effective settlement of preexisting relationships. The total consideration is summarized as follows: Total Consideration (in millions) Amount Cash Consideration $ 212.3 Earnout Payment (A) 39.3 Effective Settlement of Preexisting Relationships (B) 173.9 Total Consideration $ 425.5 (A) The range of outcomes for this contingent consideration is from $0 to $60.0 million, dependent on the performance of Shellpoint. At acquisition date, New Residential derived a fair value of the remaining contingent consideration payment in three years of $39.3 million. This amount excludes contingent payments to the long-term employee incentive plans that require continuing employment and are recognized as compensation expense within General and Administrative expenses in the post-acquisition consolidated financial statements separate from New Residential’s acquisition of assets and assumption of liabilities in the business combination. (B) Represents the effective settlement of preexisting relationships between New Residential and Shellpoint. The effective settlement of these preexisting relationships had no impact to New Residential’s Consolidated Statements of Income. The final amount and allocation of total consideration reflects certain measurement period adjustments identified during the fourth quarter of 2018, including the effect on earnings that would have been recorded during the third quarter of 2018 had the accounting been completed at the acquisition date. Such measurement period adjustments included 1) a decrease of $3.5 million in the amount of contingent consideration based upon finalization of the internal valuation, 2) a decrease of $6.4 million to consideration transferred for the effective settlement of existing relationships, 3) an increase of $14.1 million to the fair value of identifiable intangible assets based upon receipt of the final valuation report from a third-party valuation firm, and 4) an increase of $0.3 million to other assets due to a decrease in the fair value discount on certain servicing advance receivables. These measurement period adjustments resulted in a corresponding decrease to goodwill in the amount of $24.3 million. The goodwill of $24.6 million primarily includes the synergies and benefits expected to result from combining operations with Shellpoint and adding in-house servicing, asset origination and recapture capabilities and has been allocated to the Servicing and Origination reporting segment. The full amount of goodwill for tax purposes of $24.6 million is expected to be deductible. New Residential will assess the goodwill annually on October 1 and in interim periods in case of events or circumstances make it more likely than not that an impairment may have occurred. Certain transactions were recognized separately from New Residential’s acquisition of assets and assumption of liabilities in the business combination. These separately recognized transactions include 1) contingent payments to Shellpoint’s employees and 2) effective settlement of preexisting relationships discussed above, including 1) MSR acquisitions, 2) a note payable and 3) operating accounts receivable and payable existing prior to the acquisition date. Unaudited Supplemental Pro Forma Financial Information — The following table presents unaudited pro forma combined Servicing and Origination Revenue, which is comprised of (i) servicing revenue, net and (ii) gain on originated mortgage loans, held-for-sale, net, and Income Before Income Taxes for the years ended December 31, 2018 and 2017 prepared as if the Shellpoint Acquisition had been consummated on January 1, 2017. Year Ended December 31, 2018 2017 Pro Forma (in millions) Servicing and Origination Revenue $ 767.0 $ 749.0 Income Before Income Taxes 948.1 1,197.5 The unaudited supplemental pro forma financial information has not been adjusted for transactions other than the Shellpoint Acquisition, or for the conforming of accounting policies. The unaudited supplemental pro forma financial information does not include any anticipated synergies or other anticipated benefits of the Shellpoint Acquisition and, accordingly, the unaudited supplemental pro forma financial information is not necessarily indicative of either future results of operations or results that might have been achieved had the Shellpoint Acquisition occurred on January 1, 2017. Strategic Investment in Covius Holdings Inc. On May 1, 2019, New Residential made a strategic investment in Covius, a leading provider of technology-enabled services to the mortgage industry. Covius provides settlement and title, document and letter fulfillment, regulatory compliance, quality assurance, commercial and residential loan due diligence and business process automation services. New Residential invested $27.3 million in common stock for a non-controlling interest in Covius, with an option to increase its ownership position through specified future investments and $35.0 million in a four New Residential determined that the investment should be accounted for under the equity method of accounting since it has the ability to exercise significant influence over the investee’s operating and financial policies. As the consideration transferred for the investment was greater than the net equity of the investment (“basis differences”), the Company allocated the basis difference in a manner consistent with business combination accounting resulting in goodwill of $11.8 million, and intangible assets primarily in the form of customer backlog and tradename of $3.6 million. Goodwill and intangibles are included as part of Equity investments within Other assets on the Consolidated Balance Sheets.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
SEGMENT REPORTING	Dec. 31, 2020
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING At December 31, 2020, New Residential’s reportable segments include (i) Origination, (ii) Servicing, (iii) MSR Related Investments, (iv) Residential Securities and Loans, (v) Consumer Loans and (vi) Corporate. The Corporate segment primarily consists of general and administrative expenses, management fees and incentive compensation related to the Management Agreement, corporate cash and related interest income, unsecured senior notes (Note12) and related interest expense. The following tables summarize segment financial information, which in total reconciles to the same data for New Residential as a whole: Servicing and Origination Residential Securities and Loans Origination Servicing MSR Related Investments Eliminations (A) Total Servicing and Origination Real Estate Residential Mortgage Loans Consumer Corporate Total Year Ended December 31, 2020 Interest income $ 63,160 $ 8,288 $ 374,698 $ — $ 446,146 $ 355,916 $ 175,963 $ 124,512 $ — $ 1,102,537 Servicing revenue, net (11,519) 417,438 (743,987) (216,973) (555,041) — — — — (555,041) Gain on originated mortgage loans, held-for-sale, net 1,289,584 1,722 69,714 39,532 1,400,552 (13,398) 11,938 — — 1,399,092 Total revenues 1,341,225 427,448 (299,575) (177,441) 1,291,657 342,518 187,901 124,512 — 1,946,588 Interest expense 45,676 495 233,619 — 279,790 157,371 87,958 22,587 36,763 584,469 G&A and other 494,398 294,594 446,469 (216,973) 1,018,488 7,639 62,900 10,301 109,893 1,209,221 Total operating expenses 540,074 295,089 680,088 (216,973) 1,298,278 165,010 150,858 32,888 146,656 1,793,690 Change in fair value of investments — — (298,126) — (298,126) (25,012) (107,604) (6,384) — (437,126) Gain (loss) on settlement of investments, net — — (16,713) — (16,713) (828,525) (19,655) (4,183) (61,055) (930,131) Other income (loss), net 433 499 37,453 — 38,385 2,333 (3,220) 814 (41,109) (2,797) Total other income (loss) 433 499 (277,386) — (276,454) (851,204) (130,479) (9,753) (102,164) (1,370,054) Impairment — — 141 — 141 13,404 110,067 — — 123,612 Income (Loss) Before Income Taxes 801,584 132,858 (1,257,190) 39,532 (283,216) (687,100) (203,503) 81,871 (248,820) (1,340,768) Income tax (benefit) expense 211,359 32,810 (162,817) — 81,352 — (65,215) 779 — 16,916 Net Income (Loss) $ 590,225 $ 100,048 $ (1,094,373) $ 39,532 $ (364,568) $ (687,100) $ (138,288) $ 81,092 $ (248,820) $ (1,357,684) Noncontrolling interests in income (loss) of consolidated subsidiaries 15,625 — 891 — 16,516 — — 36,158 — $ 52,674 Dividends on preferred stock — — — — — — — — 54,295 54,295 Net income (loss) attributable to common stockholders $ 574,600 $ 100,048 $ (1,095,264) $ 39,532 $ (381,084) $ (687,100) $ (138,288) $ 44,934 $ (303,115) $ (1,464,653) Servicing and Origination Residential Securities Origination Servicing MSR Related Investments Eliminations (A) Total Servicing and Origination Real Estate Residential Mortgage Loans Consumer Corporate Total December 31, 2020 Investments $ 2,947,113 $ — $ 5,534,752 $ — $ 8,481,865 $ 14,244,558 $ 3,029,339 $ 685,575 $ — $ 26,441,337 Cash and cash equivalents 123,124 59,798 412,578 — 595,500 222,372 7,472 3,182 116,328 944,854 Restricted cash 14,826 49,913 28,128 — 92,867 15,652 96 27,004 — 135,619 Other assets 551,910 206,646 4,538,045 — 5,296,601 232,837 86,762 38,465 46,171 5,700,836 Goodwill 11,836 12,540 5,092 — 29,468 — — — — 29,468 Total assets $ 3,648,809 $ 328,897 $ 10,518,595 $ — $ 14,496,301 $ 14,715,419 $ 3,123,669 $ 754,226 $ 162,499 $ 33,252,114 Debt $ 2,700,962 $ 3,285 $ 5,998,711 $ — $ 8,702,958 $ 13,473,239 $ 2,386,919 $ 628,759 $ 541,516 $ 25,733,391 Other liabilities 298,106 89,713 1,520,959 — 1,908,778 20,863 28,577 622 130,199 2,089,039 Total liabilities 2,999,068 92,998 7,519,670 — 10,611,736 13,494,102 2,415,496 629,381 671,715 27,822,430 Total equity 649,741 235,899 2,998,925 — 3,884,565 1,221,317 708,173 124,845 (509,216) 5,429,684 Noncontrolling interests in equity of consolidated subsidiaries 19,402 — 43,882 — 63,284 — — 45,384 — 108,668 Total New Residential stockholders’ equity $ 630,339 $ 235,899 $ 2,955,043 $ — $ 3,821,281 $ 1,221,317 $ 708,173 $ 79,461 $ (509,216) $ 5,321,016 Investments in equity method investees $ — $ — $ 129,873 $ — $ 129,873 $ — $ — $ — $ — $ 129,873 Servicing and Origination Residential Securities Origination Servicing MSR Related Investments Eliminations (A) Total Servicing and Origination Real Estate Residential Mortgage Loans Consumer Corporate Total Year Ended December 31, 2019 Interest income $ 42,166 $ 34,013 $ 530,225 $ — $ 606,404 $ 744,145 $ 249,673 $ 165,877 $ 31 $ 1,766,130 Servicing revenue, net (1,605) 209,982 225,361 (48,579) 385,159 — — — — 385,159 Gain on originated mortgage loans, held-for-sale, net 390,981 1,029 43,914 (51,360) 384,564 — 75,543 — — 460,107 Total revenues 431,542 245,024 799,500 (99,939) 1,376,127 744,145 325,216 165,877 31 2,611,396 Interest expense 41,949 1,043 246,294 — 289,286 453,609 158,298 32,558 — 933,751 G&A and other 252,458 170,516 310,715 (48,579) 685,110 3,160 52,745 22,540 189,780 953,335 Total operating expenses 294,407 171,559 557,009 (48,579) 974,396 456,769 211,043 55,098 189,780 1,887,086 Change in fair value of investments — — (182,440) — (182,440) (54,042) (70,914) — — (307,396) Gain (loss) on settlement of investments, net — — 8,030 — 8,030 74,927 153,449 (8,425) — 227,981 Other income (loss), net 9,340 5,343 30,760 — 45,443 44 (7,150) (1,574) 1,618 38,381 Total other income (loss) 9,340 5,343 (143,650) — (128,967) 20,929 75,385 (9,999) 1,618 (41,034) Impairment — — — — — 25,174 (20,607) 31,010 — 35,577 Income (Loss) Before Income Taxes 146,475 78,808 98,841 (51,360) 272,764 283,131 210,165 69,770 (188,131) 647,699 Income tax (benefit) expense (C) 39,768 21,396 9,565 — 70,729 — (28,461) (502) — 41,766 Net Income (Loss) $ 106,707 $ 57,412 $ 89,276 $ (51,360) $ 202,035 $ 283,131 $ 238,626 $ 70,272 $ (188,131) $ 605,933 Noncontrolling interests in income (loss) of consolidated subsidiaries 6,231 — 4,255 — 10,486 — — 32,151 — 42,637 Dividends on Preferred Stock — — — — — — — — 13,281 13,281 Net income (loss) attributable to common stockholders $ 100,476 $ 57,412 $ 85,021 $ (51,360) $ 191,549 $ 283,131 $ 238,626 $ 38,121 $ (201,412) $ 550,015 Servicing and Origination Residential Securities Origination Servicing MSR Related Investments Eliminations (A) Total Servicing and Origination Real Estate Residential Mortgage Loans Consumer Corporate Total December 31, 2019 Investments $ 1,414,528 $ — $ 6,773,353 $ — $ 8,187,881 $ 19,477,728 $ 5,843,983 $ 827,545 $ — $ 34,337,137 Cash and cash equivalents 77,237 32,225 318,714 — 428,176 87,359 1,180 6,514 5,508 528,737 Restricted cash 6,730 15,769 107,328 — 129,827 — — 32,370 — 162,197 Other assets 250,709 204,723 3,420,122 — 3,875,554 5,590,456 174,940 78,740 85,956 9,805,646 Goodwill 11,836 12,809 5,092 — 29,737 — — — — 29,737 Total assets $ 1,761,040 $ 265,526 $ 10,624,609 $ — $ 12,651,175 $ 25,155,543 $ 6,020,103 $ 945,169 $ 91,464 $ 44,863,454 Debt $ 1,304,621 $ 33,412 $ 6,646,159 $ — $ 7,984,192 $ 22,151,110 $ 4,676,849 $ 824,222 $ — $ 35,636,373 Other liabilities 117,328 51,264 451,629 — 620,221 980,415 55,121 16,795 318,269 1,990,821 Total liabilities 1,421,949 84,676 7,097,788 — 8,604,413 23,131,525 4,731,970 841,017 318,269 37,627,194 Total equity 339,091 180,850 3,526,821 — 4,046,762 2,024,018 1,288,133 104,152 (226,805) 7,236,260 Noncontrolling interests in equity of consolidated subsidiaries 11,354 — 45,025 — 56,379 — — 22,171 — 78,550 Total New Residential stockholders’ equity $ 327,737 $ 180,850 $ 3,481,796 $ — $ 3,990,383 $ 2,024,018 $ 1,288,133 $ 81,981 $ (226,805) $ 7,157,710 Investments in equity method investees $ — $ — $ 165,848 $ — $ 165,848 $ — $ — $ — $ — $ 165,848

EXCESS MORTGAGE SERVICING RIGHT

EXCESS MORTGAGE SERVICING RIGHTS	12 Months Ended
EXCESS MORTGAGE SERVICING RIGHTS	Dec. 31, 2020
Transfers and Servicing [Abstract]
EXCESS MORTGAGE SERVICING RIGHTS	EXCESS MORTGAGE SERVICING RIGHTS Excess mortgage servicing rights assets include New Residential’s direct investments in Excess MSRs and investments in joint ventures jointly controlled by New Residential and Fortress-managed funds investing in Excess MSRs. The table below summarizes the components of excess mortgage servicing rights assets as presented on the consolidated balance sheets: Year Ended December 31, 2020 2019 Direct investments in Excess MSRs $ 310,938 $ 379,747 Excess MSR Joint Ventures 99,917 125,596 Excess mortgage servicing rights assets, at fair value $ 410,855 $ 505,343 Direct Investments in Excess MSRs The following table presents activity related to the carrying value of New Residential’s direct investments in Excess MSRs: Servicer Mr. Cooper SLS (A) Total Balance as of December 31, 2018 $ 445,328 $ 2,532 $ 447,860 Interest income 32,587 60 32,647 Other income 3,851 — 3,851 Proceeds from repayments (83,612) (419) (84,031) Proceeds from sales (10,075) — (10,075) Change in fair value (10,387) (118) (10,505) Balance as of December 31, 2019 377,692 2,055 379,747 Interest income 28,217 135 28,352 Other income (12,123) — (12,123) Proceeds from repayments (67,340) (405) (67,745) Proceeds from sales (1,061) — (1,061) Change in fair value (16,376) 144 (16,232) Balance as of December 31, 2020 $ 309,009 $ 1,929 $ 310,938 (A) Specialized Loan Servicing LLC (“SLS”). Mr. Cooper or SLS, as applicable, as servicer performs all of the servicing and advancing functions, and retains the ancillary income, servicing obligations and liabilities as the servicer of the underlying loans in the portfolio. New Residential has entered into a “recapture agreement” with respect to each of the direct Excess MSR investments serviced by Mr. Cooper and SLS. Under such arrangements, New Residential is generally entitled to a pro rata interest in the Excess MSRs on any refinancing by Mr. Cooper of a loan in the original portfolio. These recapture agreements do not apply to New Residential’s Servicer Advance Investments (Note 7). New Residential elected to record its direct investments in Excess MSRs at fair value pursuant to the fair value option for financial instruments in order to provide users of the financial statements with better information regarding the effects of prepayment risk and other market factors on the Excess MSRs. The following is a summary of New Residential’s direct investments in Excess MSRs: December 31, 2020 UPB of Underlying Mortgages Interest in Excess MSR Weighted Average Life Years (A) Amortized Cost Basis (B) Carrying Value (C) New Residential (D) Fortress-managed funds Mr. Cooper Agency Original and Recaptured Pools $ 34,593,406 32.5% - 66.7% (53.3%) —% - 40.0% 20.0% - 35.0% 5.9 $ 141,204 $ 162,645 Non-Agency (E) Mr. Cooper and SLS Serviced: Original and Recaptured Pools 38,095,499 33.3% - 100.0% (59.4%) —% - 50.0% —% - 33.3% 6.5 109,697 148,293 Total $ 72,688,905 $ 250,901 $ 310,938 December 31, 2019 UPB of Underlying Mortgages Interest in Excess MSR Weighted Average Life Years (A) Amortized Cost Basis (B) Carrying Value (C) New Residential (D) Fortress-managed funds Mr. Cooper Agency Original and Recaptured Pools $ 43,310,917 32.5% - 66.7% (53.3)% —% - 40.0% 20.0% - 35.0% 5.5 $ 178,603 $ 209,633 Non-Agency (E) Mr. Cooper and SLS Serviced: Original and Recaptured Pools 45,034,320 33.3% - 100.0% (59.4)% —% - 50.0% —% - 33.3% 6.5 124,875 170,114 Total $ 88,345,237 $ 303,478 $ 379,747 (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) The amortized cost basis of the recapture agreements is determined based on the relative fair values of the recapture agreements and related Excess MSRs at the time they were acquired. (C) Carrying Value represents the fair value of the pools and recapture agreements, as applicable. (D) Amounts in parentheses represent weighted averages. (E) New Residential is also invested in related Servicer Advance Investments, including the basic fee component of the related MSR as of December 31, 2020 and 2019 (Note 7) on $26.1 billion and $31.4 billion UPB, respectively, underlying these Excess MSRs. Changes in fair value recorded in other income is composed of the following: Year Ended December 31, 2020 2019 2018 Original and Recaptured Pools $ (16,232) $ (10,505) $ (58,656) As of December 31, 2020 and 2019, weighted average discount rates of 7.8% (range 7.5%-8.0%) and 7.8%, respectively, were used to value New Residential’s investments in Excess MSRs (directly and through equity method investees). Excess MSR Joint Ventures New Residential entered into investments in joint ventures (“Excess MSR joint ventures”) jointly controlled by New Residential and Fortress-managed funds investing in Excess MSRs. The following tables summarize the financial results of the Excess MSR joint ventures, accounted for as equity method investees, held by New Residential: December 31, 2020 2019 Excess MSR assets $ 179,762 $ 226,843 Other assets 20,759 25,035 Other liabilities (687) (687) Equity $ 199,834 $ 251,191 New Residential’s investment $ 99,917 $ 125,596 New Residential’s percentage ownership 50.0 % 50.0 % Year Ended December 31, 2020 2019 2018 Interest income $ 22,507 $ 23,872 $ 26,363 Other income (loss) (29,461) (10,208) (9,649) Expenses (24) (64) — Net income $ (6,978) $ 13,600 $ 16,714 The following table summarizes the activity of New Residential’s investments in equity method investees: December 31, 2020 2019 Balance at beginning of period $ 125,596 $ 147,964 Contributions to equity method investees — — Distributions of earnings from equity method investees (1,170) (8,999) Distributions of capital from equity method investees (21,020) (20,169) Change in fair value of investments in equity method investees (3,489) 6,800 Balance at end of period $ 99,917 $ 125,596 The following is a summary of New Residential’s Excess MSR investments made through equity method investees: December 31, 2020 Unpaid Principal Balance Investee Interest in Excess MSR (A) New Residential Interest in Investees Amortized Cost Basis (B) Carrying Value (C) Weighted Average Life (Years) (D) Agency Original and Recaptured Pools $ 28,453,512 66.7% 50.0% $ 139,251 $ 179,762 5.8 December 31, 2019 Unpaid Principal Balance Investee Interest in Excess MSR (A) New Residential Interest in Investees Amortized Cost Basis (B) Carrying Value (C) Weighted Average Life (Years) (D) Agency Original and Recaptured Pools $ 33,592,554 66.7% 50.0% $ 168,807 $ 226,843 5.4 (A) The remaining interests are held by Mr. Cooper. (B) Represents the amortized cost basis of the equity method investees in which New Residential holds a 50% interest. The amortized cost basis of the recapture agreements is determined based on the relative fair values of the recapture agreements and related Excess MSRs at the time they were acquired. (C) Represents the carrying value of the Excess MSRs held in equity method investees, in which New Residential holds a 50% interest. Carrying value represents the fair value of the pools and recapture agreements, as applicable. (D) Represents the weighted average expected timing of the receipt of cash flows of each investment. The Company owns and records at fair value the rights to service residential mortgage loans, either as a result of purchase transactions or from the retained mortgage servicing associated with the sales and securitizations of loans originated. MSRs are composed of servicing rights of both agency and non-agency loans. In certain cases where New Residential has legally purchased MSRs or the right to the economic interest in MSRs, New Residential has determined that the purchase agreement would not be treated as a sale under GAAP. Therefore, rather than recording an investment in MSRs, New Residential has recorded an investment in MSR Financing Receivables. Income from these investments, net of subservicing fees, are recorded as Interest income with changes in fair value flowing through Change in fair value of investments in the Consolidated Statements of Income. A subsidiary of New Residential, New Residential Mortgage LLC (“NRM”), engages third party licensed mortgage servicers as subservicers to perform the operational servicing duties in connection with the MSRs it acquires, in exchange for a subservicing fee which is recorded as Subservicing expense in New Residential’s Consolidated Statements of Income. As of December 31, 2020, these subservicers include LoanCare, Nationstar, PHH and Flagstar, which subservice 17.5%, 16.2%, 15.4%, and 0.7% of the underlying UPB of the related mortgages, respectively (includes both MSRs and MSR Financing Receivables). The remaining 50.2% of the underlying UPB of the related mortgages is subserviced by the servicing division of NewRez. NRM has entered into recapture agreements with respect to each of its MSR investments. Under the recapture agreements, NRM is generally entitled to the MSRs on any initial or subsequent refinancing by an NRM subservicer or by NewRez. The following table presents activity related to the carrying value of New Residential’s MSRs and MSR Financing Receivables: MSRs MSR Financing Receivables Total Balance as of December 31, 2018 $ 2,884,100 $ 1,644,504 $ 4,528,604 Purchases, net (A) 678,424 652,902 1,331,326 Transfers (B) 367,121 (367,121) — Other transfers (C) (410) — (410) Ditech Acquisition (Note 3) 387,170 — 387,170 Originations (D) 374,450 — 374,450 Proceeds from sales (1,539) (22,989) (24,528) Change in fair value due to: Realization of cash flows (E) (537,111) (203,732) (740,843) Change in valuation inputs and assumptions (F) (187,530) 21,094 (166,436) (Gain) loss realized 3,285 (6,385) (3,100) Balance as of December 31, 2019 $ 3,967,960 $ 1,718,273 $ 5,686,233 Purchases, net (A) 449,875 (18,267) 431,608 Transfers (G) 320,613 (320,613) — Originations (D) 666,414 — 666,414 Proceeds from sales (11,282) (4,059) (15,341) Change in fair value due to: Realization of cash flows (E) (1,369,607) (222,674) (1,592,281) Change in valuation inputs and assumptions (F) (536,694) (54,745) (591,439) (Gain) loss realized 2,396 (1,749) 647 Balance as of December 31, 2020 $ 3,489,675 $ 1,096,166 $ 4,585,841 (A) Net of purchase price adjustments and purchase price fully reimbursable from MSR sellers as a result of prepayment protection. (B) Represents MSRs previously accounted for as MSR Financing Receivables. As a result of the length of the initial term of the related subservicing agreement between NRM and PHH, although the MSRs were legally sold, solely for accounting purposes, the purchase agreement was not treated as a sale under GAAP through June 30, 2019. (C) Represents Ginnie Mae MSRs repurchased. (D) Represents MSRs retained on the sale of originated mortgage loans. (E) Based on the ratio of the current UPB of the underlying residential mortgage loans relative to the original UPB of the underlying residential mortgage loans. (F) Includes changes in inputs or assumptions used in the valuation model. (G) Represents MSRs previously accounted for as MSR Financing Receivables. As a result of the length of prepayment protection between NRM and MSR sellers, although the MSRs were legally sold, solely for accounting purposes, the purchase agreement was not treated as a sale under GAAP through June 30, 2020. Servicing revenue, net recognized by New Residential related to its MSRs comprises the following: Year Ended December 31, 2020 2019 2018 Servicing fee revenue $ 1,224,060 $ 899,623 $ 589,546 Ancillary and other fees 110,640 198,486 130,294 Servicing fee revenue and fees 1,334,700 1,098,109 719,840 Change in fair value due to: Realization of cash flows (A) (1,360,954) (530,031) (256,915) Change in valuation inputs and assumptions (B) (C) (531,183) (186,204) 68,587 (Gain) loss realized 2,396 3,285 (2,917) Servicing revenue, net $ (555,041) $ 385,159 $ 528,595 (A) Includes $8.7 million, $7.1 million and $1.2 million of fair value adjustment due to realization of cash flows to Excess spread financing for the years ended December 31, 2020, 2019, and 2018, respectively. (B) Includes changes in inputs or assumptions used in the valuation model. (C) Includes $5.5 million, $1.3 million and $7.4 million of fair value adjustment due to changes in valuation inputs and assumptions to Excess spread financing for the years ended December 31, 2020, 2019, and 2018, respectively. Interest income from MSR Financing Receivables was composed of the following: Year Ended December 31, 2020 2019 2018 Servicing fee revenue $ 384,260 $ 513,172 $ 705,812 Ancillary and other fees 74,421 119,570 146,829 Less: subservicing expense (151,109) (196,726) (251,184) Interest income, MSR financing receivables $ 307,572 $ 436,016 $ 601,457 Change in fair value of MSR Financing Receivables was composed of the following: Year Ended December 31, 2020 2019 2018 Realization of cash flows $ (222,674) $ (203,732) $ (197,703) Change in valuation inputs and assumptions (A) (54,745) 21,094 230,036 (Gain) loss realized (1,749) (6,385) (783) Change in fair value of MSR financing receivables $ (279,168) $ (189,023) $ 31,550 (A) Includes changes in inputs or assumptions used in the valuation model. The following is a summary of New Residential’s MSRs and MSR Financing Receivables as of December 31, 2020 and 2019: UPB of Underlying Mortgages Weighted Average Life (Years) (A) Carrying Value (B) 2020 MSRs: Agency (C) $ 300,200,826 5.1 $ 2,799,728 Non-Agency 5,962,225 4.2 17,512 Ginnie Mae 57,106,825 4.1 672,435 MSR Financing Receivables: Agency (C) 5,517,730 5.2 49,275 Non-Agency 66,648,221 8.0 1,046,891 Total $ 435,435,827 5.4 $ 4,585,841 2019 MSRs: Agency (C) $ 315,427,933 5.1 $ 3,319,035 Non-Agency 6,402,833 5.4 20,283 Ginnie Mae 52,019,295 4.6 628,642 MSR Financing Receivables: Agency (C) 54,866,978 4.7 547,351 Non-Agency 76,117,892 7.6 1,170,922 Total $ 504,834,931 5.4 $ 5,686,233 (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) Carrying Value represents fair value. As of December 31, 2020 and 2019, weighted average discount rates of 7.7% (range of 7.3%-13.0%) and 7.8%, respectively, were used to value New Residential’s MSRs, respectively. As of December 31, 2020 and 2019, weighted average discount rates of 9.4% (range of 7.4%-9.5%) and 8.9%, respectively, were used to value New Residential’s MSR Financing Receivables. (C) Represents Fannie Mae and Freddie Mac MSRs. Ginnie Mae Loans Subject to Repurchase Right NewRez, as an approved issuer of Ginnie Mae MBS, originates and securitizes government-insured residential mortgage loans. As the issuer of the Ginnie Mae-guaranteed securitizations, NewRez has the unilateral right to repurchase loans from the securitizations when they are delinquent for more than 90 days. Loans in forbearance that are three or more consecutive payments delinquent are included as delinquent loans permitted to be repurchased. Under GAAP, NewRez is required to recognize the right to loans on its balance sheet and establish a corresponding liability upon the triggering of the repurchase right regardless of whether NewRez intends to repurchase the loans. As of December 31, 2020 and 2019, New Residential holds approximately $1,452.0 million and $172.3 million in residential mortgage loans subject to repurchase and residential mortgage loans repurchase liability on its Consolidated Balance Sheets. New Residential may re-pool reacquired loans into new Ginnie Mae securitizations upon re-performance of the loan or otherwise sell to third-party investors. Upon recognizing loans eligible for repurchase, the Company does not change the accounting for MSRs related to previously sold loans. Upon reacquisition of a loan the MSR is written off. As of December 31, 2020, New Residential holds approximately $810.9 million of reacquired residential mortgage loans and is reflected in Residential mortgage loans, held-for-sale on the Consolidated Balance Sheets. Ocwen MSR Financing Receivable Transactions In July 2017, Ocwen Loan Servicing, LLC (collectively with certain affiliates, “Ocwen”) and New Residential entered into an agreement in which both parties agreed to undertake certain actions to facilitate the transfer from Ocwen to New Residential of Ocwen’s remaining interests in the mortgage servicing rights relating to loans with an aggregate unpaid principal balance of approximately $110.0 billion and with respect to which New Residential already held certain rights (“Rights to MSRs”). Ocwen and New Residential concurrently entered into a subservicing agreement pursuant to which Ocwen agreed to subservice the mortgage loans related to the MSRs that were transferred to New Residential. In January 2018, Ocwen sold and transferred to New Residential certain “Rights to MSRs” and other assets related to mortgage servicing rights for loans with an unpaid principal balance of approximately $86.8 billion. PHH (as successor by merger to Ocwen) will continue to service the mortgage loans related to the MSRs until any necessary third-party consents to transferring the MSRs are obtained and all other conditions to transferring the MSRs are satisfied, at which time PHH will transfer the MSRs to New Residential. As of December 31, 2020, MSRs representing approximately $66.7 billion UPB of underlying loans were transferred from PHH to NRM and NewRez. Although the MSRs transferred were legally sold, solely for accounting purposes, New Residential determined that substantially all of the risks and rewards inherent in owning the MSRs had not been transferred to NRM or NewRez, and that the purchase agreement would not be treated as a sale under GAAP. Mr. Cooper MSR Financing Receivable Transaction On February 28, 2019, NRM entered into an agreement with Mr. Cooper to purchase the MSRs, and related servicer advance receivables, with respect to $9.5 billion in total UPB of seasoned Agency residential mortgage loans. The residential mortgage loans underlying the MSRs acquired by NRM are subserviced by Mr. Cooper pursuant to an existing subservicing agreement with NRM. As a result of the length of the initial term of the related subservicing agreement between NRM and Mr. Cooper, although the MSRs were legally sold, solely for accounting purposes, New Residential determined that substantially all of the risks and rewards inherent in owning the MSRs had not been transferred to NRM, and that the purchase agreement would not be treated as a sale under GAAP. United Shore MSR Financing Receivable Transactions On April 2, 2019 and May 21, 2019, NRM entered into agreements with United Shore to purchase the MSRs, and related servicer advance receivables, with respect to $8.2 billion and $23.7 billion in total UPB of seasoned Agency residential mortgage loans, respectively. The residential mortgage loans underlying the MSRs acquired by NRM will be subserviced by NewRez, Mr. Cooper and LoanCare pursuant to existing subservicing agreements with NRM. As a result of the length of term of prepayment protection provided to NRM, although the MSRs were legally sold, solely for accounting purposes, New Residential determined that the transferor retained more than minor protection provisions, and that the purchase agreement would not be treated as a sale under GAAP. During the year ended December 31, 2020, New Residential reassessed the transaction and concluded that the transferor no longer retained more than minor protection provisions and, as a result, New Residential accounted for this transaction as a true sale. Quicken MSR Financing Receivable Transaction On August 6, 2019, NRM entered into an agreement with Quicken to purchase the MSRs, and related servicer advance receivables, with respect to $29.1 billion in total UPB of seasoned Agency residential mortgage loans. The residential mortgage loans underlying the MSRs acquired by NRM are subserviced by LoanCare pursuant to an existing subservicing agreement with NRM. As a result of the length of term of prepayment protection provided to NRM, although the MSRs were legally sold, solely for accounting purposes, New Residential determined that the transferor retained more than minor protection provisions, and that the purchase agreement would not be treated as a sale under GAAP. During the year ended December 31, 2020, New Residential reassessed the transaction and concluded that the transferor no longer retained more than minor protection provisions and, as a result, New Residential accounted for this transaction as a true sale. The table below summarizes the geographic distribution of the underlying residential mortgage loans of the MSRs and MSR Financing Receivables: Percentage of Total Outstanding Unpaid Principal Amount State Concentration December 31, 2020 December 31, 2019 California 21.2 % 21.9 % Florida 7.4 % 6.9 % New York 7.0 % 6.4 % Texas 5.6 % 5.5 % New Jersey 4.8 % 4.9 % Illinois 3.6 % 3.6 % Massachusetts 3.4 % 3.4 % Georgia 3.3 % 3.1 % Pennsylvania 3.1 % 3.0 % Maryland 3.1 % 3.0 % Other U.S. 37.5 % 38.3 % 100.0 % 100.0 % Geographic concentrations of investments expose New Residential to the risk of economic downturns within the relevant states. Any such downturn in a state where New Residential holds significant investments could affect the underlying borrower’s ability to make mortgage payments and therefore could have a meaningful, negative impact on the MSRs. Mortgage Subservicing NewRez performs servicing of residential mortgage loans for third parties under subservicing agreements. Mortgage subservicing does not meet the criteria to be recognized as a servicing right asset and, therefore, is not recognized on New Residential’s Consolidated Balance Sheets. The UPB of residential mortgage loans subserviced for others as of December 31, 2020 and 2019 was $66.9 billion and $71.3 billion, respectively. Subservicing revenue of $201.6 million and $139.5 million was included within Servicing revenue, net in the Consolidated Statements of Income for the years ended December 31, 2020 and 2019, respectively. Servicer Advances Receivable In connection with its MSRs and MSR financing receivables, New Residential generally acquires any related outstanding servicer advances (not included in the purchase prices described above), which it records at fair value within servicer advances receivable upon acquisition. In addition to receiving cash flows from the MSRs, NRM and NewRez, as servicers, have the obligation to fund future servicer advances on the underlying pool of mortgages (Note 16). These servicer advances are recorded when advanced and are included in Servicer Advances Receivable on the Consolidated Balance Sheets. The following types of advances are included in the Servicer Advances Receivable: December 31, 2020 2019 Principal and interest advances $ 665,538 $ 823,860 Escrow advances (taxes and insurance advances) 1,547,796 1,666,792 Foreclosure advances 816,400 760,593 Total (A)(B)(C) $ 3,029,734 $ 3,251,245 (A) Includes $583.9 million and $562.2 million of servicer advances receivable related to Agency MSRs, respectively, recoverable either from the borrower or the Agencies. (B) Includes $181.2 million and $166.5 million of servicer advances receivable related to Ginnie Mae MSRs, respectively, recoverable from either the borrower or Ginnie Mae. Expected losses for advances associated with Ginnie Mae loans in the MSR portfolio are considered in the MSR fair valuation through a non reimbursable advance loss assumption. (C) Net of $27.5 million and $50.1 million, respectively, in unamortized advance discount and reserves, net of accruals for advance recoveries. These reserves relate to inactive loans in the foreclosure or liquidation process. New Residential’s Servicer advances receivable related to Non-Agency MSRs generally have the highest reimbursement priority pursuant to the underlying servicing agreements (i.e., “top of the waterfall”) and New Residential is generally entitled to repayment from respective loan or REO liquidation proceeds before any interest or principal is paid on the bonds that were issued by the trust. In the majority of cases, advances in excess of respective loan or REO liquidation proceeds may be recovered from pool-level proceeds. Furthermore, to the extent that advances are not recoverable by New Residential as a result of the subservicer’s failure to comply with applicable requirements in the relevant servicing agreements, New Residential has a contractual right to be reimbursed by the subservicer. New Residential assesses the recoverability of servicer advance receivables periodically and as of December 31, 2019, expected full recovery of the Servicer Advance Receivables. For advances on loans that have been liquidated, sold, paid in full or modified, the Company reserved $22.9 million for expected non-recovery of advances as of December 31, 2020. See Note 12 regarding the financing of MSRs.

MORTGAGE SERVICING RIGHTS AND M

MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES	12 Months Ended
MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES	Dec. 31, 2020
Transfers and Servicing [Abstract]
MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES	EXCESS MORTGAGE SERVICING RIGHTS Excess mortgage servicing rights assets include New Residential’s direct investments in Excess MSRs and investments in joint ventures jointly controlled by New Residential and Fortress-managed funds investing in Excess MSRs. The table below summarizes the components of excess mortgage servicing rights assets as presented on the consolidated balance sheets: Year Ended December 31, 2020 2019 Direct investments in Excess MSRs $ 310,938 $ 379,747 Excess MSR Joint Ventures 99,917 125,596 Excess mortgage servicing rights assets, at fair value $ 410,855 $ 505,343 Direct Investments in Excess MSRs The following table presents activity related to the carrying value of New Residential’s direct investments in Excess MSRs: Servicer Mr. Cooper SLS (A) Total Balance as of December 31, 2018 $ 445,328 $ 2,532 $ 447,860 Interest income 32,587 60 32,647 Other income 3,851 — 3,851 Proceeds from repayments (83,612) (419) (84,031) Proceeds from sales (10,075) — (10,075) Change in fair value (10,387) (118) (10,505) Balance as of December 31, 2019 377,692 2,055 379,747 Interest income 28,217 135 28,352 Other income (12,123) — (12,123) Proceeds from repayments (67,340) (405) (67,745) Proceeds from sales (1,061) — (1,061) Change in fair value (16,376) 144 (16,232) Balance as of December 31, 2020 $ 309,009 $ 1,929 $ 310,938 (A) Specialized Loan Servicing LLC (“SLS”). Mr. Cooper or SLS, as applicable, as servicer performs all of the servicing and advancing functions, and retains the ancillary income, servicing obligations and liabilities as the servicer of the underlying loans in the portfolio. New Residential has entered into a “recapture agreement” with respect to each of the direct Excess MSR investments serviced by Mr. Cooper and SLS. Under such arrangements, New Residential is generally entitled to a pro rata interest in the Excess MSRs on any refinancing by Mr. Cooper of a loan in the original portfolio. These recapture agreements do not apply to New Residential’s Servicer Advance Investments (Note 7). New Residential elected to record its direct investments in Excess MSRs at fair value pursuant to the fair value option for financial instruments in order to provide users of the financial statements with better information regarding the effects of prepayment risk and other market factors on the Excess MSRs. The following is a summary of New Residential’s direct investments in Excess MSRs: December 31, 2020 UPB of Underlying Mortgages Interest in Excess MSR Weighted Average Life Years (A) Amortized Cost Basis (B) Carrying Value (C) New Residential (D) Fortress-managed funds Mr. Cooper Agency Original and Recaptured Pools $ 34,593,406 32.5% - 66.7% (53.3%) —% - 40.0% 20.0% - 35.0% 5.9 $ 141,204 $ 162,645 Non-Agency (E) Mr. Cooper and SLS Serviced: Original and Recaptured Pools 38,095,499 33.3% - 100.0% (59.4%) —% - 50.0% —% - 33.3% 6.5 109,697 148,293 Total $ 72,688,905 $ 250,901 $ 310,938 December 31, 2019 UPB of Underlying Mortgages Interest in Excess MSR Weighted Average Life Years (A) Amortized Cost Basis (B) Carrying Value (C) New Residential (D) Fortress-managed funds Mr. Cooper Agency Original and Recaptured Pools $ 43,310,917 32.5% - 66.7% (53.3)% —% - 40.0% 20.0% - 35.0% 5.5 $ 178,603 $ 209,633 Non-Agency (E) Mr. Cooper and SLS Serviced: Original and Recaptured Pools 45,034,320 33.3% - 100.0% (59.4)% —% - 50.0% —% - 33.3% 6.5 124,875 170,114 Total $ 88,345,237 $ 303,478 $ 379,747 (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) The amortized cost basis of the recapture agreements is determined based on the relative fair values of the recapture agreements and related Excess MSRs at the time they were acquired. (C) Carrying Value represents the fair value of the pools and recapture agreements, as applicable. (D) Amounts in parentheses represent weighted averages. (E) New Residential is also invested in related Servicer Advance Investments, including the basic fee component of the related MSR as of December 31, 2020 and 2019 (Note 7) on $26.1 billion and $31.4 billion UPB, respectively, underlying these Excess MSRs. Changes in fair value recorded in other income is composed of the following: Year Ended December 31, 2020 2019 2018 Original and Recaptured Pools $ (16,232) $ (10,505) $ (58,656) As of December 31, 2020 and 2019, weighted average discount rates of 7.8% (range 7.5%-8.0%) and 7.8%, respectively, were used to value New Residential’s investments in Excess MSRs (directly and through equity method investees). Excess MSR Joint Ventures New Residential entered into investments in joint ventures (“Excess MSR joint ventures”) jointly controlled by New Residential and Fortress-managed funds investing in Excess MSRs. The following tables summarize the financial results of the Excess MSR joint ventures, accounted for as equity method investees, held by New Residential: December 31, 2020 2019 Excess MSR assets $ 179,762 $ 226,843 Other assets 20,759 25,035 Other liabilities (687) (687) Equity $ 199,834 $ 251,191 New Residential’s investment $ 99,917 $ 125,596 New Residential’s percentage ownership 50.0 % 50.0 % Year Ended December 31, 2020 2019 2018 Interest income $ 22,507 $ 23,872 $ 26,363 Other income (loss) (29,461) (10,208) (9,649) Expenses (24) (64) — Net income $ (6,978) $ 13,600 $ 16,714 The following table summarizes the activity of New Residential’s investments in equity method investees: December 31, 2020 2019 Balance at beginning of period $ 125,596 $ 147,964 Contributions to equity method investees — — Distributions of earnings from equity method investees (1,170) (8,999) Distributions of capital from equity method investees (21,020) (20,169) Change in fair value of investments in equity method investees (3,489) 6,800 Balance at end of period $ 99,917 $ 125,596 The following is a summary of New Residential’s Excess MSR investments made through equity method investees: December 31, 2020 Unpaid Principal Balance Investee Interest in Excess MSR (A) New Residential Interest in Investees Amortized Cost Basis (B) Carrying Value (C) Weighted Average Life (Years) (D) Agency Original and Recaptured Pools $ 28,453,512 66.7% 50.0% $ 139,251 $ 179,762 5.8 December 31, 2019 Unpaid Principal Balance Investee Interest in Excess MSR (A) New Residential Interest in Investees Amortized Cost Basis (B) Carrying Value (C) Weighted Average Life (Years) (D) Agency Original and Recaptured Pools $ 33,592,554 66.7% 50.0% $ 168,807 $ 226,843 5.4 (A) The remaining interests are held by Mr. Cooper. (B) Represents the amortized cost basis of the equity method investees in which New Residential holds a 50% interest. The amortized cost basis of the recapture agreements is determined based on the relative fair values of the recapture agreements and related Excess MSRs at the time they were acquired. (C) Represents the carrying value of the Excess MSRs held in equity method investees, in which New Residential holds a 50% interest. Carrying value represents the fair value of the pools and recapture agreements, as applicable. (D) Represents the weighted average expected timing of the receipt of cash flows of each investment. The Company owns and records at fair value the rights to service residential mortgage loans, either as a result of purchase transactions or from the retained mortgage servicing associated with the sales and securitizations of loans originated. MSRs are composed of servicing rights of both agency and non-agency loans. In certain cases where New Residential has legally purchased MSRs or the right to the economic interest in MSRs, New Residential has determined that the purchase agreement would not be treated as a sale under GAAP. Therefore, rather than recording an investment in MSRs, New Residential has recorded an investment in MSR Financing Receivables. Income from these investments, net of subservicing fees, are recorded as Interest income with changes in fair value flowing through Change in fair value of investments in the Consolidated Statements of Income. A subsidiary of New Residential, New Residential Mortgage LLC (“NRM”), engages third party licensed mortgage servicers as subservicers to perform the operational servicing duties in connection with the MSRs it acquires, in exchange for a subservicing fee which is recorded as Subservicing expense in New Residential’s Consolidated Statements of Income. As of December 31, 2020, these subservicers include LoanCare, Nationstar, PHH and Flagstar, which subservice 17.5%, 16.2%, 15.4%, and 0.7% of the underlying UPB of the related mortgages, respectively (includes both MSRs and MSR Financing Receivables). The remaining 50.2% of the underlying UPB of the related mortgages is subserviced by the servicing division of NewRez. NRM has entered into recapture agreements with respect to each of its MSR investments. Under the recapture agreements, NRM is generally entitled to the MSRs on any initial or subsequent refinancing by an NRM subservicer or by NewRez. The following table presents activity related to the carrying value of New Residential’s MSRs and MSR Financing Receivables: MSRs MSR Financing Receivables Total Balance as of December 31, 2018 $ 2,884,100 $ 1,644,504 $ 4,528,604 Purchases, net (A) 678,424 652,902 1,331,326 Transfers (B) 367,121 (367,121) — Other transfers (C) (410) — (410) Ditech Acquisition (Note 3) 387,170 — 387,170 Originations (D) 374,450 — 374,450 Proceeds from sales (1,539) (22,989) (24,528) Change in fair value due to: Realization of cash flows (E) (537,111) (203,732) (740,843) Change in valuation inputs and assumptions (F) (187,530) 21,094 (166,436) (Gain) loss realized 3,285 (6,385) (3,100) Balance as of December 31, 2019 $ 3,967,960 $ 1,718,273 $ 5,686,233 Purchases, net (A) 449,875 (18,267) 431,608 Transfers (G) 320,613 (320,613) — Originations (D) 666,414 — 666,414 Proceeds from sales (11,282) (4,059) (15,341) Change in fair value due to: Realization of cash flows (E) (1,369,607) (222,674) (1,592,281) Change in valuation inputs and assumptions (F) (536,694) (54,745) (591,439) (Gain) loss realized 2,396 (1,749) 647 Balance as of December 31, 2020 $ 3,489,675 $ 1,096,166 $ 4,585,841 (A) Net of purchase price adjustments and purchase price fully reimbursable from MSR sellers as a result of prepayment protection. (B) Represents MSRs previously accounted for as MSR Financing Receivables. As a result of the length of the initial term of the related subservicing agreement between NRM and PHH, although the MSRs were legally sold, solely for accounting purposes, the purchase agreement was not treated as a sale under GAAP through June 30, 2019. (C) Represents Ginnie Mae MSRs repurchased. (D) Represents MSRs retained on the sale of originated mortgage loans. (E) Based on the ratio of the current UPB of the underlying residential mortgage loans relative to the original UPB of the underlying residential mortgage loans. (F) Includes changes in inputs or assumptions used in the valuation model. (G) Represents MSRs previously accounted for as MSR Financing Receivables. As a result of the length of prepayment protection between NRM and MSR sellers, although the MSRs were legally sold, solely for accounting purposes, the purchase agreement was not treated as a sale under GAAP through June 30, 2020. Servicing revenue, net recognized by New Residential related to its MSRs comprises the following: Year Ended December 31, 2020 2019 2018 Servicing fee revenue $ 1,224,060 $ 899,623 $ 589,546 Ancillary and other fees 110,640 198,486 130,294 Servicing fee revenue and fees 1,334,700 1,098,109 719,840 Change in fair value due to: Realization of cash flows (A) (1,360,954) (530,031) (256,915) Change in valuation inputs and assumptions (B) (C) (531,183) (186,204) 68,587 (Gain) loss realized 2,396 3,285 (2,917) Servicing revenue, net $ (555,041) $ 385,159 $ 528,595 (A) Includes $8.7 million, $7.1 million and $1.2 million of fair value adjustment due to realization of cash flows to Excess spread financing for the years ended December 31, 2020, 2019, and 2018, respectively. (B) Includes changes in inputs or assumptions used in the valuation model. (C) Includes $5.5 million, $1.3 million and $7.4 million of fair value adjustment due to changes in valuation inputs and assumptions to Excess spread financing for the years ended December 31, 2020, 2019, and 2018, respectively. Interest income from MSR Financing Receivables was composed of the following: Year Ended December 31, 2020 2019 2018 Servicing fee revenue $ 384,260 $ 513,172 $ 705,812 Ancillary and other fees 74,421 119,570 146,829 Less: subservicing expense (151,109) (196,726) (251,184) Interest income, MSR financing receivables $ 307,572 $ 436,016 $ 601,457 Change in fair value of MSR Financing Receivables was composed of the following: Year Ended December 31, 2020 2019 2018 Realization of cash flows $ (222,674) $ (203,732) $ (197,703) Change in valuation inputs and assumptions (A) (54,745) 21,094 230,036 (Gain) loss realized (1,749) (6,385) (783) Change in fair value of MSR financing receivables $ (279,168) $ (189,023) $ 31,550 (A) Includes changes in inputs or assumptions used in the valuation model. The following is a summary of New Residential’s MSRs and MSR Financing Receivables as of December 31, 2020 and 2019: UPB of Underlying Mortgages Weighted Average Life (Years) (A) Carrying Value (B) 2020 MSRs: Agency (C) $ 300,200,826 5.1 $ 2,799,728 Non-Agency 5,962,225 4.2 17,512 Ginnie Mae 57,106,825 4.1 672,435 MSR Financing Receivables: Agency (C) 5,517,730 5.2 49,275 Non-Agency 66,648,221 8.0 1,046,891 Total $ 435,435,827 5.4 $ 4,585,841 2019 MSRs: Agency (C) $ 315,427,933 5.1 $ 3,319,035 Non-Agency 6,402,833 5.4 20,283 Ginnie Mae 52,019,295 4.6 628,642 MSR Financing Receivables: Agency (C) 54,866,978 4.7 547,351 Non-Agency 76,117,892 7.6 1,170,922 Total $ 504,834,931 5.4 $ 5,686,233 (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) Carrying Value represents fair value. As of December 31, 2020 and 2019, weighted average discount rates of 7.7% (range of 7.3%-13.0%) and 7.8%, respectively, were used to value New Residential’s MSRs, respectively. As of December 31, 2020 and 2019, weighted average discount rates of 9.4% (range of 7.4%-9.5%) and 8.9%, respectively, were used to value New Residential’s MSR Financing Receivables. (C) Represents Fannie Mae and Freddie Mac MSRs. Ginnie Mae Loans Subject to Repurchase Right NewRez, as an approved issuer of Ginnie Mae MBS, originates and securitizes government-insured residential mortgage loans. As the issuer of the Ginnie Mae-guaranteed securitizations, NewRez has the unilateral right to repurchase loans from the securitizations when they are delinquent for more than 90 days. Loans in forbearance that are three or more consecutive payments delinquent are included as delinquent loans permitted to be repurchased. Under GAAP, NewRez is required to recognize the right to loans on its balance sheet and establish a corresponding liability upon the triggering of the repurchase right regardless of whether NewRez intends to repurchase the loans. As of December 31, 2020 and 2019, New Residential holds approximately $1,452.0 million and $172.3 million in residential mortgage loans subject to repurchase and residential mortgage loans repurchase liability on its Consolidated Balance Sheets. New Residential may re-pool reacquired loans into new Ginnie Mae securitizations upon re-performance of the loan or otherwise sell to third-party investors. Upon recognizing loans eligible for repurchase, the Company does not change the accounting for MSRs related to previously sold loans. Upon reacquisition of a loan the MSR is written off. As of December 31, 2020, New Residential holds approximately $810.9 million of reacquired residential mortgage loans and is reflected in Residential mortgage loans, held-for-sale on the Consolidated Balance Sheets. Ocwen MSR Financing Receivable Transactions In July 2017, Ocwen Loan Servicing, LLC (collectively with certain affiliates, “Ocwen”) and New Residential entered into an agreement in which both parties agreed to undertake certain actions to facilitate the transfer from Ocwen to New Residential of Ocwen’s remaining interests in the mortgage servicing rights relating to loans with an aggregate unpaid principal balance of approximately $110.0 billion and with respect to which New Residential already held certain rights (“Rights to MSRs”). Ocwen and New Residential concurrently entered into a subservicing agreement pursuant to which Ocwen agreed to subservice the mortgage loans related to the MSRs that were transferred to New Residential. In January 2018, Ocwen sold and transferred to New Residential certain “Rights to MSRs” and other assets related to mortgage servicing rights for loans with an unpaid principal balance of approximately $86.8 billion. PHH (as successor by merger to Ocwen) will continue to service the mortgage loans related to the MSRs until any necessary third-party consents to transferring the MSRs are obtained and all other conditions to transferring the MSRs are satisfied, at which time PHH will transfer the MSRs to New Residential. As of December 31, 2020, MSRs representing approximately $66.7 billion UPB of underlying loans were transferred from PHH to NRM and NewRez. Although the MSRs transferred were legally sold, solely for accounting purposes, New Residential determined that substantially all of the risks and rewards inherent in owning the MSRs had not been transferred to NRM or NewRez, and that the purchase agreement would not be treated as a sale under GAAP. Mr. Cooper MSR Financing Receivable Transaction On February 28, 2019, NRM entered into an agreement with Mr. Cooper to purchase the MSRs, and related servicer advance receivables, with respect to $9.5 billion in total UPB of seasoned Agency residential mortgage loans. The residential mortgage loans underlying the MSRs acquired by NRM are subserviced by Mr. Cooper pursuant to an existing subservicing agreement with NRM. As a result of the length of the initial term of the related subservicing agreement between NRM and Mr. Cooper, although the MSRs were legally sold, solely for accounting purposes, New Residential determined that substantially all of the risks and rewards inherent in owning the MSRs had not been transferred to NRM, and that the purchase agreement would not be treated as a sale under GAAP. United Shore MSR Financing Receivable Transactions On April 2, 2019 and May 21, 2019, NRM entered into agreements with United Shore to purchase the MSRs, and related servicer advance receivables, with respect to $8.2 billion and $23.7 billion in total UPB of seasoned Agency residential mortgage loans, respectively. The residential mortgage loans underlying the MSRs acquired by NRM will be subserviced by NewRez, Mr. Cooper and LoanCare pursuant to existing subservicing agreements with NRM. As a result of the length of term of prepayment protection provided to NRM, although the MSRs were legally sold, solely for accounting purposes, New Residential determined that the transferor retained more than minor protection provisions, and that the purchase agreement would not be treated as a sale under GAAP. During the year ended December 31, 2020, New Residential reassessed the transaction and concluded that the transferor no longer retained more than minor protection provisions and, as a result, New Residential accounted for this transaction as a true sale. Quicken MSR Financing Receivable Transaction On August 6, 2019, NRM entered into an agreement with Quicken to purchase the MSRs, and related servicer advance receivables, with respect to $29.1 billion in total UPB of seasoned Agency residential mortgage loans. The residential mortgage loans underlying the MSRs acquired by NRM are subserviced by LoanCare pursuant to an existing subservicing agreement with NRM. As a result of the length of term of prepayment protection provided to NRM, although the MSRs were legally sold, solely for accounting purposes, New Residential determined that the transferor retained more than minor protection provisions, and that the purchase agreement would not be treated as a sale under GAAP. During the year ended December 31, 2020, New Residential reassessed the transaction and concluded that the transferor no longer retained more than minor protection provisions and, as a result, New Residential accounted for this transaction as a true sale. The table below summarizes the geographic distribution of the underlying residential mortgage loans of the MSRs and MSR Financing Receivables: Percentage of Total Outstanding Unpaid Principal Amount State Concentration December 31, 2020 December 31, 2019 California 21.2 % 21.9 % Florida 7.4 % 6.9 % New York 7.0 % 6.4 % Texas 5.6 % 5.5 % New Jersey 4.8 % 4.9 % Illinois 3.6 % 3.6 % Massachusetts 3.4 % 3.4 % Georgia 3.3 % 3.1 % Pennsylvania 3.1 % 3.0 % Maryland 3.1 % 3.0 % Other U.S. 37.5 % 38.3 % 100.0 % 100.0 % Geographic concentrations of investments expose New Residential to the risk of economic downturns within the relevant states. Any such downturn in a state where New Residential holds significant investments could affect the underlying borrower’s ability to make mortgage payments and therefore could have a meaningful, negative impact on the MSRs. Mortgage Subservicing NewRez performs servicing of residential mortgage loans for third parties under subservicing agreements. Mortgage subservicing does not meet the criteria to be recognized as a servicing right asset and, therefore, is not recognized on New Residential’s Consolidated Balance Sheets. The UPB of residential mortgage loans subserviced for others as of December 31, 2020 and 2019 was $66.9 billion and $71.3 billion, respectively. Subservicing revenue of $201.6 million and $139.5 million was included within Servicing revenue, net in the Consolidated Statements of Income for the years ended December 31, 2020 and 2019, respectively. Servicer Advances Receivable In connection with its MSRs and MSR financing receivables, New Residential generally acquires any related outstanding servicer advances (not included in the purchase prices described above), which it records at fair value within servicer advances receivable upon acquisition. In addition to receiving cash flows from the MSRs, NRM and NewRez, as servicers, have the obligation to fund future servicer advances on the underlying pool of mortgages (Note 16). These servicer advances are recorded when advanced and are included in Servicer Advances Receivable on the Consolidated Balance Sheets. The following types of advances are included in the Servicer Advances Receivable: December 31, 2020 2019 Principal and interest advances $ 665,538 $ 823,860 Escrow advances (taxes and insurance advances) 1,547,796 1,666,792 Foreclosure advances 816,400 760,593 Total (A)(B)(C) $ 3,029,734 $ 3,251,245 (A) Includes $583.9 million and $562.2 million of servicer advances receivable related to Agency MSRs, respectively, recoverable either from the borrower or the Agencies. (B) Includes $181.2 million and $166.5 million of servicer advances receivable related to Ginnie Mae MSRs, respectively, recoverable from either the borrower or Ginnie Mae. Expected losses for advances associated with Ginnie Mae loans in the MSR portfolio are considered in the MSR fair valuation through a non reimbursable advance loss assumption. (C) Net of $27.5 million and $50.1 million, respectively, in unamortized advance discount and reserves, net of accruals for advance recoveries. These reserves relate to inactive loans in the foreclosure or liquidation process. New Residential’s Servicer advances receivable related to Non-Agency MSRs generally have the highest reimbursement priority pursuant to the underlying servicing agreements (i.e., “top of the waterfall”) and New Residential is generally entitled to repayment from respective loan or REO liquidation proceeds before any interest or principal is paid on the bonds that were issued by the trust. In the majority of cases, advances in excess of respective loan or REO liquidation proceeds may be recovered from pool-level proceeds. Furthermore, to the extent that advances are not recoverable by New Residential as a result of the subservicer’s failure to comply with applicable requirements in the relevant servicing agreements, New Residential has a contractual right to be reimbursed by the subservicer. New Residential assesses the recoverability of servicer advance receivables periodically and as of December 31, 2019, expected full recovery of the Servicer Advance Receivables. For advances on loans that have been liquidated, sold, paid in full or modified, the Company reserved $22.9 million for expected non-recovery of advances as of December 31, 2020. See Note 12 regarding the financing of MSRs.

SERVICER ADVANCE INVESTMENTS

SERVICER ADVANCE INVESTMENTS	12 Months Ended
SERVICER ADVANCE INVESTMENTS	Dec. 31, 2020
Investments, All Other Investments [Abstract]
SERVICER ADVANCE INVESTMENTS	SERVICER ADVANCE INVESTMENTS All of New Residential’s Servicer Advance Investments are composed of outstanding servicer advances, the requirement to purchase all future servicer advances made with respect to a specified pool of residential mortgage loans, and the basic fee component of the related MSR. New Residential elected to record its Servicer Advance Investments, including the right to the basic fee component of the related MSRs, at fair value pursuant to the fair value option for financial instruments to provide users of the financial statements with better information regarding the effects of market factors. A taxable wholly owned subsidiary of New Residential is the managing member of Advance Purchaser LLC (the “Buyer”), a joint venture entity, and owned an approximately 73.2% interest in the Buyer as of December 31, 2020. As of December 31, 2020, third-party co-investors, owning the remaining interest in the Buyer, have funded capital commitments to the Buyer of $389.6 million and New Residential has funded capital commitments to the Buyer of $312.7 million. The Buyer may call capital up to the commitment amount on unfunded commitments and recall capital to the extent the Buyer makes a distribution to the co-investors, including New Residential. As of December 31, 2020, the noncontrolling third-party co-investors and New Residential had previously funded their commitments, however the Buyer may recall $328.4 million and $306.9 million of capital distributed to the third-party co-investors and New Residential, respectively. Neither the third-party co-investors nor New Residential is obligated to fund amounts in excess of their respective capital commitments, regardless of the capital requirements of the Buyer. The Buyer has purchased servicer advances from Mr. Cooper, is required to purchase all future servicer advances made with respect to this portfolio of loans from Mr. Cooper, and receives cash flows from advance recoveries and the basic fee component of the related MSRs, net of compensation paid back to Mr. Cooper in consideration of Mr. Cooper’s servicing activities. The compensation paid to Mr. Cooper as of December 31, 2020 was approximately 9.2% of the basic fee component of the related MSRs plus a performance fee that represents a portion (up to 100%) of the cash flows in excess of those required for the Buyer to obtain a specified return on its equity. New Residential has determined that the Buyer is a VIE. See Note 14 for information regarding the assets and liabilities related to this consolidated VIE. New Residential also acquired a portion of the call rights related to this portfolio of loans. The following is a summary of New Residential’s Servicer Advance Investments, including the right to the basic fee component of the related MSRs: Amortized Cost Basis Carrying Value (A) Weighted Average Discount Rate Weighted Average Yield Weighted Average Life (Years) (B) December 31, 2020 Servicer Advance Investments $ 512,958 $ 538,056 5.2 % 5.7 % 6.0 December 31, 2019 Servicer Advance Investments $ 557,444 $ 581,777 5.3 % 5.7 % 6.3 (A) Carrying value represents the fair value of the Servicer Advance Investments, including the basic fee component of the related MSRs. (B) Weighted Average Life represents the weighted average expected timing of the receipt of expected net cash flows for this investment. The following is additional information regarding the Servicer Advance Investments and related financing: Loan-to-Value (“LTV”) (A) Cost of Funds (C) UPB of Underlying Residential Mortgage Loans Outstanding Servicer Advances Servicer Advances to UPB of Underlying Residential Mortgage Loans Face Amount of Secured Notes and Bonds Payable Gross Net (B) Gross Net December 31, 2020 Servicer Advance Investments (D) $ 26,061,499 $ 449,150 1.7 % $ 423,144 88.4 % 88.6 % 1.5 % 1.3 % December 31, 2019 Servicer Advance Investments (D) $ 31,442,267 $ 462,843 1.5 % $ 443,248 88.3 % 87.2 % 3.4 % 2.8 % (A) Based on outstanding servicer advances, excluding purchased but unsettled servicer advances. (B) Ratio of face amount of borrowings to par amount of servicer advance collateral, net of any general reserve. (C) Annualized measure of the cost associated with borrowings. Gross Cost of Funds primarily includes interest expense and facility fees. Net Cost of Funds excludes facility fees. (D) The following types of advances are included in the Servicer Advance Investments: December 31, 2020 2019 Principal and interest advances $ 84,976 $ 71,574 Escrow advances (taxes and insurance advances) 186,426 180,047 Foreclosure advances 177,748 211,222 Total $ 449,150 $ 462,843 Interest income recognized by New Residential related to its Servicer Advance Investments was composed of the following: Year Ended December 31, 2020 2019 2018 Interest income, gross of amounts attributable to servicer compensation $ 34,262 $ 51,940 $ 83,807 Amounts attributable to basic servicer compensation (3,248) (6,209) (8,491) Amounts attributable to incentive servicer compensation (12,832) (18,065) (25,098) Interest income from Servicer Advance Investments $ 18,182 $ 27,666 $ 50,218 See Note 12 regarding the financing of Servicer Advance Investments.

REAL ESTATE AND OTHER SECURITIE

REAL ESTATE AND OTHER SECURITIES	12 Months Ended
REAL ESTATE AND OTHER SECURITIES	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
REAL ESTATE AND OTHER SECURITIES	REAL ESTATE AND OTHER SECURITIES “Agency” residential mortgage backed securities (“RMBS”) are RMBS issued by a government sponsored enterprise, such as Fannie Mae or Freddie Mac. “Non-Agency” RMBS are issued by either public trusts or private label securitization entities. Activities related to New Residential’s real estate and other securities were as follows (amounts in millions): Year Ended December 31, 2020 2019 Agency Non-Agency Agency Non-Agency Purchases Face $ 21,593.3 $ 5,083.1 $ 33,573.5 $ 14,960.4 Purchase Price 22,290.3 575.0 34,335.5 2,059.0 Sales Face $ 19,321.7 $ 8,450.1 $ 22,746.3 $ 2,936.2 Amortized Cost 19,666.2 6,242.0 23,337.8 1,852.1 Sale Price 19,886.8 5,288.5 23,449.2 1,949.3 Gain (Loss) on Sale 220.5 (953.5) 111.4 97.2 As of December 31, 2020, there were no unsettled trades. As of December 31, 2019, New Residential had sold and purchased $5.1 billion and $0.9 billion face amount of Agency RMBS for $5.2 billion and $0.9 billion, respectively, which had not yet been settled. These unsettled sales and purchases were recorded on the balance sheet on trade date as Trades Receivable and Trades Payable. New Residential has exercised its call rights with respect to Non-Agency RMBS trusts and purchased performing and non-performing residential mortgage loans and REO contained in such trusts prior to their termination. In certain cases, New Residential sold portions of the purchased loans through securitizations, and retained bonds issued by such securitizations. In addition, New Residential received par on the securities issued by the called trusts which it owned prior to such trusts’ termination. Refer to Notes 9 and 17 for further details on these transactions. The following is a summary of New Residential’s real estate and other securities: Gross Unrealized Weighted Average Asset Type Outstanding Face Amount Amortized Cost Basis Gains Losses Carrying Value (A) Number of Securities Rating (B) Coupon (C) Yield Life (Years) (D) Principal Subordination (E) December 31, 2020 Agency RMBS $ 110,360 $ 111,149 $ 10,612 $ — $ 121,761 $ 1 AAA 3.5 % 3.5 % 5.9 — Agency RMBS at FVO 12,380,792 12,840,459 101,414 — 12,941,873 57 AAA 2.2 % 2.2 % 4.3 — Total Agency RMBS (F)(G) 12,491,152 12,951,608 112,026 — 13,063,634 58 AAA 2.2 % 2.2 % 4.3 — Non-Agency RMBS (H)(I) 19,378,530 1,153,643 88,098 (60,817) 1,180,924 589 AA 2.8 % 4.1 % 4.8 19.6 % Total/Weighted Average $ 31,869,682 $ 14,105,251 $ 200,124 $ (60,817) $ 14,244,558 647 AAA 2.3 % 2.4 % 4.3 December 31, 2019 Agency RMBS (F)(G) $ 11,301,603 $ 11,474,338 $ 57,221 $ (11,616) $ 11,519,943 43 AAA 3.2 % 2.8 % 6.0 N/A Non-Agency RMBS (H)(I) 24,857,988 7,307,837 689,158 (39,210) 7,957,785 997 B+ 2.9 % 4.7 % 7.0 11.0 % Total/Weighted Average $ 36,159,591 $ 18,782,175 $ 746,379 $ (50,826) $ 19,477,728 1,040 A+ 3.0 % 3.5 % 6.4 (A) Fair value, which is equal to carrying value for all securities. See Note 13 regarding the estimation of fair value. (B) Represents the weighted average of the ratings of all securities in each asset type, expressed as an S&P equivalent rating. This excludes the ratings of the collateral underlying 289 bonds with a carrying value of $432.5 million which either have never been rated or for which rating information is no longer provided. For each security rated by multiple rating agencies, the lowest rating is used. New Residential used an implied AAA rating for the Agency RMBS. Ratings provided were determined by third party rating agencies, and represent the most recent credit ratings available as of the reporting date and may not be current. (C) Excludes residual bonds, and certain other Non-Agency bonds, with a carrying value of $27.4 million and $2.6 million, respectively, for which no coupon payment is expected. (D) The weighted average life is based on the timing of expected principal reduction on the assets. (E) Percentage of the amortized cost basis of securities that is subordinate to New Residential’s investments, excluding fair value option securities. (F) Includes securities issued or guaranteed by U.S. Government agencies such as Fannie Mae or Freddie Mac. (G) The total outstanding face amount was $12.5 billion and $11.3 billion for fixed rate securities and $0.0 billion and $0.0 billion for floating rate securities as of December 31, 2020 and 2019, respectively. (H) The total outstanding face amount was $11.9 billion (including $10.9 billion of residual and fair value option notional amount) and $5.4 billion (including $3.2 billion of residual and fair value option notional amount) for fixed rate securities and $7.5 billion (including $7.2 billion of residual and fair value option notional amount) and $19.5 billion (including $12.2 billion of residual and fair value option notional amount) for floating rate securities as of December 31, 2020 and 2019, respectively. (I) Includes other asset backed securities (“ABS”) consisting primarily of (i) interest-only securities and servicing strips (fair value option securities) which New Residential elected to carry at fair value and record changes to valuation through the income statement, (ii) bonds backed by consumer loans and (iii) corporate debt. Gross Unrealized Weighted Average Asset Type Outstanding Face Amount Amortized Cost Basis Gains Losses Carrying Value Number of Securities Rating Coupon Yield Life (Years) Principal Subordination December 31, 2020 Corporate debt $ 500 $ 500 $ 23 $ — $ 523 1 B- 8.25 % 8.25 % 4.3 N/A Consumer loan bonds 13,022 12,360 503 — 12,862 6 N/A N/A N/A — N/A Fair value option securities Interest-only securities 9,457,488 248,253 6,600 (43,781) 211,073 124 AA+ 1.22 % 5.09 % 2.1 N/A Servicing strips 4,979,723 49,989 5,865 (9,476) 46,378 58 N/A 0.42 % 8.38 % 3.9 N/A December 31, 2019 Corporate debt $ 85,000 $ 85,000 $ — $ (1,262) $ 83,738 1 B- 8.25 % 8.25 % 5.3 N/A Consumer loan bonds 25,029 25,688 521 (6,190) 20,019 6 N/A N/A N/A 1.6 N/A MSR bond — — — — — — N/A — % — % — N/A Fair value option securities Interest-only securities 11,201,646 308,714 35,882 (19,459) 325,137 124 AA+ 1.37 % 10.49 % 2.9 N/A Servicing strips 4,073,792 40,043 2,431 (4,562) 37,912 46 N/A 0.38 % 4.01 % 5.7 N/A Unrealized losses attributable to credit impairment are recognized in earnings. During the year ended December 31, 2020, 2019 and 2018, New Residential recorded credit impairment of $13.4 million, $25.2 million and $30.0 million, respectively. Any remaining unrealized losses on New Residential’s securities were primarily the result of changes in market factors, rather than issue-specific credit impairment. New Residential performed analyses in relation to such securities, using its best estimate of their cash flows, which support its belief that the carrying values of such securities were fully recoverable over their expected holding period. New Residential has no intent to sell, and is not more likely than not to be required to sell, these securities. The following table summarizes New Residential’s securities in an unrealized loss position as of December 31, 2020. Amortized Cost Basis Weighted Average Securities in an Unrealized Loss Position Outstanding Face Amount Before Credit Impairment Credit Impairment (A) After Credit Impairment Gross Unrealized Losses Carrying Value Number of Securities Rating Coupon Yield Life Less than 12 Months $ 7,134,953 $ 217,955 $ (1,776) $ 216,179 $ (28,594) $ 187,585 61 AA+ 2.29 % 4.58 % 5.5 12 or More Months 4,063,623 143,681 (6,896) 136,785 (32,223) 104,562 80 AA+ 1.56 % 1.76 % 4.2 Total/Weighted Average $ 11,198,576 $ 361,636 $ (8,672) $ 352,964 $ (60,817) $ 292,147 141 AA+ 2.00 % 3.49 % 5.0 (A) Represents credit impairment on securities in an unrealized loss position as of December 31, 2020. New Residential performed an assessment of all debt securities that are in an unrealized loss position (an unrealized loss position exists when a security’s amortized cost basis, excluding the effect of credit impairment, exceeds its fair value) and determined the following: December 31, 2020 December 31, 2019 Gross Unrealized Losses Gross Unrealized Losses Fair Value Amortized Cost Basis After Credit Impairment Credit (A) Non-Credit (B) Fair Value Amortized Cost Basis After Credit Impairment Credit (A) Non-Credit (B) Securities New Residential intends to sell — — — — $ — $ — $ — $ — Securities New Residential is more likely than not to be required to sell (C) — — — — — — — N/A Securities New Residential has no intent to sell and is not more likely than not to be required to sell: Credit impaired securities 21,326 21,326 (8,672) — 228,228 237,626 (3,232) (9,398) Non-credit impaired securities 270,821 331,638 — (60,817) 4,726,409 4,767,837 — (41,428) Total debt securities in an unrealized loss position $ 292,147 $ 352,964 $ (8,672) $ (60,817) $ 4,954,637 $ 5,005,463 $ (3,232) $ (50,826) (A) This amount is required to be recorded through earnings. In measuring the portion of credit losses, New Residential estimates the expected cash flow for each of the securities. This evaluation included a review of the credit status and the performance of the collateral supporting those securities, including the credit of the issuer, key terms of the securities and the effect of local, industry and broader economic trends. Significant inputs in estimating the cash flows included New Residential’s expectations of prepayment rates, default rates and loss severities. Credit losses were measured as the decline in the present value of the expected future cash flows discounted at the security’s effective interest rate. (B) This amount represents unrealized losses on securities that are due to non-credit factors and recorded through other comprehensive income. (C) New Residential may, at times, be more likely than not to be required to sell certain securities for liquidity purposes. While the amount of the securities to be sold may be an estimate, and the securities to be sold have not yet been identified, New Residential must make its best estimate, which is subject to significant judgment regarding future events, and may differ materially from actual future sales. The following table summarizes the activity related to the allowance for credit losses on debt securities (excluding credit impairment relating to securities New Residential intends to sell or is more likely than not required to sell): Purchased Credit Deteriorated Non-Purchased Credit Deteriorated Total Allowance for credit losses on available-for-sale debt securities at December 31, 2019 $ — $ — $ — Additions to the allowance for credit losses on securities for which credit losses were not previously recorded — — — Additions to the allowance for credit losses arising from purchases of available-for-sale debt securities accounted for as purchased financial assets with credit deterioration — — — Reductions for securities sold during the period — — — Reductions in the allowance for credit losses because the entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis — — — Additional increases (decreases) to the allowance for credit losses on securities that had credit losses or an allowance recorded in a previous period 8,672 — 8,672 Write-offs charged against the allowance — — — Recoveries of amounts previously written off — — — Allowance for credit losses on available-for-sale debt securities at December 31, 2020 $ 8,672 $ — $ 8,672 The following table summarizes the activity related to credit losses on debt securities: Year Ended December 31, 2019 2018 Beginning balance of credit losses on debt securities for which a portion of an other-than-temporary impairment was recognized in other comprehensive income $ 52,803 $ 23,821 Increases to credit losses on securities for which an other-than-temporary impairment was previously recognized and a portion of an other-than-temporary impairment was recognized in other comprehensive income 23,059 16,924 Additions for credit losses on securities for which an other-than-temporary impairment was not previously recognized 2,115 13,093 Reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis — — Reduction for credit losses on securities for which no other-than-temporary impairment was recognized in other comprehensive income at the current measurement date — — Reduction for securities sold/paid off during the period (18,914) (1,035) Ending balance of credit losses on debt securities for which a portion of an other-than-temporary impairment was recognized in other comprehensive income $ 59,063 $ 52,803 The table below summarizes the geographic distribution of the collateral securing New Residential’s Non-Agency RMBS: December 31, 2020 2019 Geographic Location (A) Outstanding Face Amount Percentage of Total Outstanding Outstanding Face Amount Percentage of Total Outstanding Western U.S. $ 6,543,524 33.7 % $ 9,048,847 36.6 % Southeastern U.S. 5,089,592 26.3 % 5,983,966 24.2 % Northeastern U.S. 4,484,340 23.2 % 5,416,137 21.9 % Midwestern U.S. 2,207,783 11.4 % 2,562,269 10.4 % Southwestern U.S. 1,025,637 5.3 % 1,440,467 5.8 % Other (B) 14,132 0.1 % 296,273 1.1 % $ 19,365,008 100.0 % $ 24,747,959 100.0 % (A) Excludes $13.0 million and $25.0 million face amount of bonds backed by consumer loans and $0.5 million and $85.0 million face amount of bonds backed by corporate debt as of December 31, 2020 and 2019, respectively. (B) Represents collateral for which New Residential was unable to obtain geographic information. New Residential evaluates the credit quality of its real estate securities, as of the acquisition date, for evidence of credit quality deterioration. As a result, New Residential identified a population of real estate securities for which it was determined that it was probable that New Residential would be unable to collect all contractually required payments. The following is the outstanding face amount and carrying value for securities, for which, as of the acquisition date, it was probable that New Residential would be unable to collect all contractually required payments, excluding residual and fair value option securities: Outstanding Face Amount Carrying Value December 31, 2020 $ 727,216 $ 280,876 December 31, 2019 5,701,736 3,830,369 The following is a summary of the changes in accretable yield for these securities: Year Ended December 31, 2020 2019 Beginning Balance $ 1,882,477 $ 2,245,984 Additions 76,960 407,864 Accretion (60,868) (239,682) Reclassifications from (to) non-accretable difference (167,793) (233,683) Disposals (1,541,214) (298,006) Ending Balance $ 189,562 $ 1,882,477 See Note 12 regarding the financing of real estate securities.

RESIDENTIAL MORTGAGE LOANS

RESIDENTIAL MORTGAGE LOANS	12 Months Ended
RESIDENTIAL MORTGAGE LOANS	Dec. 31, 2020
Receivables [Abstract]
RESIDENTIAL MORTGAGE LOANS	RESIDENTIAL MORTGAGE LOANS New Residential accumulated its residential mortgage loan portfolio through various bulk acquisitions and the execution of call rights. New Residential, through its wholly-owned subsidiary, NewRez, originates residential mortgage loans for sale and securitization to third parties and generally retains the servicing rights on the underlying loans. Loans are accounted for based on New Residential’s strategy for the loan, and on whether the loan was credit-impaired at the date of acquisition. As of December 31, 2020, New Residential accounts for loans based on the following categories: • Loans Held-for-Investment, at fair value • Loans Held-for-Sale, at lower of cost or fair value • Loans Held-for-Sale, at fair value The following table presents certain information regarding New Residential’s residential mortgage loans outstanding by loan type: December 31, 2020 2,019 Outstanding Face Amount Carrying Loan Weighted Average Yield Weighted Average Life (Years) (A) Carrying Value Total residential mortgage loans, held-for-investment (B) $ 769,348 $ 674,179 12,353 6.6 % 5.6 925,706 Acquired reverse mortgage loans (C) $ 12,007 $ 5,884 28 7.8 % 3.8 5,844 Acquired performing loans (D)(F) 138,109 129,345 3,278 6.7 % 4.5 857,821 Acquired non-performing loans (E)(F) 487,022 374,658 3,253 7.5 % 3.3 565,387 Total residential mortgage loans, held-for-sale, at lower of cost or market $ 637,138 $ 509,887 6,559 7.3 % 3.6 1,429,052 Acquired performing loans (D)(F) $ 1,446,457 $ 1,423,159 7,189 3.8 % 6.6 3,024,288 Acquired non-performing loans 428,079 335,544 2,798 7.5 % 3.3 0 Originated loans 2,801,297 2,947,113 10,797 2.8 % 27.7 1,589,324 Total residential mortgage loans, held-for-sale, at fair value $ 4,675,833 $ 4,705,816 20,784 3.5 % 18.9 4,613,612 Total residential mortgage loans, held-for-sale, at fair value/lower of cost or market $ 5,312,971 $ 5,215,703 6,042,664 (A) The weighted average life is based on the expected timing of the receipt of cash flows. (B) Residential mortgage loans, held-for-investment, at fair value is grouped and presented as part of Residential loans and variable interest entity consumer loans held-for-investment, at fair value on the Consolidated Balance Sheets. (C) Represents a 70% participation interest that New Residential holds in a portfolio of reverse mortgage loans. Mr. Cooper holds the other 30% interest and services the loans. The average loan balance outstanding based on total UPB was $0.6 million. Approximately 47.8% of these loans have reached a termination event. As a result of the termination event, each such loan has matured and the borrower can no longer make draws on these loans. (D) Performing loans are generally placed on nonaccrual status when principal or interest is 120 days or more past due. (E) As of December 31, 2020, New Residential has placed Non-Performing Loans, held-for-sale on nonaccrual status, except as described in (F) below. (F) Includes $798.1 million and $20.5 million UPB of Ginnie Mae EBO performing and non-performing loans, respectively, on accrual status as contractual cash flows are guaranteed by the FHA. New Residential generally considers the delinquency status, loan-to-value ratios, and geographic area of residential mortgage loans as its credit quality indicators. Delinquency status is a primary credit quality indicator as loans that are more than 60 days past due provide an early warning of borrowers who may be experiencing financial difficulties. Current LTV ratio is an indicator of the potential loss severity in the event of default. Finally, the geographic distribution of the loan collateral also provides insight as to the credit quality of the portfolio, as factors such as the regional economy, home price changes and specific events will affect credit quality. The table below summarizes the geographic distribution of the underlying residential mortgage loans: Percentage of Total Outstanding Unpaid Principal Amount December 31, State Concentration 2020 2019 California 11.9 % 16.1 % New York 10.1 % 9.0 % Texas 7.1 % 7.1 % Florida 7.1 % 8.4 % Georgia 5.8 % 4.8 % New Jersey 4.2 % 4.2 % Illinois 3.5 % 3.6 % Pennsylvania 3.5 % 2.9 % Maryland 3.4 % 3.3 % Massachusetts 3.1 % 3.3 % Other U.S. 40.3 % 37.3 % 100.0 % 100.0 % See Note 12 regarding the financing of residential mortgage loans and related assets. The following table summarizes the difference between the aggregate unpaid principal balance and the aggregate fair value of loans as of December 31, 2020: Days Past Due Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Balance 90 to 119 $ 71,567 $ 59,679 $ (11,888) 120+ 950,564 790,788 (159,776) $ 1,022,131 $ 850,467 $ (171,664) The following table provides past due information regarding New Residential’s Performing Loans, which is an important indicator of credit quality and the establishment of the allowance for credit losses: December 31, 2019 Days Past Due Delinquency Status (A) Current 86.5 % 30-59 7.0 % 60-89 2.7 % 90-119 (B) 0.7 % 120+ (C) 3.1 % 100.0 % (A) Represents the percentage of the total principal balance that corresponds to loans that are in each delinquency status. (B) Includes loans 90-119 days past due and still accruing interest because they are generally placed on nonaccrual status at 120 days or more past due. (C) Represents nonaccrual loans. Call Rights New Residential has executed calls with respect to Non-Agency RMBS trusts and purchased performing and non-performing residential mortgage loans and REO assets contained in such trusts prior to their termination. In certain cases, New Residential sold portions of the purchased loans through securitizations, and retained bonds issued by such securitizations. In addition, New Residential received par on the securities issued by the called trusts which it owned prior to such trusts’ termination. For the year ended December 31, 2020, New Residential executed calls on a total of 13 trusts and recognized $48.5 million of interest income on securities held in the collapsed trusts and $16.0 million of gain on securitizations accounted for as sales. For the year ended December 31, 2019, New Residential executed calls on a total of 140 trusts and recognized $54.4 million of interest income on securities held in the collapsed trusts and $156.2 million of gain on securitizations accounted for as sales. Refer to Note 17 for transactions with affiliates. The following table summarizes the activity for residential mortgage loans: Loans Held-for-Investment Loans Held-for-Sale, at Lower Cost or Fair Value Loans Held-for-Sale, at Fair Value Total Balance at December 31, 2018 $ 735,318 $ 932,480 $ 2,808,529 $ 4,476,327 Ditech Acquisition 381,039 — 618,297 999,336 Originations — — 19,512,072 19,512,072 Sales — (495,925) (25,538,105) (26,034,030) Purchases/additional fundings — 1,133,335 7,499,614 8,632,949 Proceeds from repayments (119,195) (184,783) (235,937) (539,915) Transfer of loans to other assets (A) — (10,154) (412) (10,566) Transfer of loans to real estate owned (20,710) (49,459) (4,155) (74,324) Transfers of loans to held for sale (80,659) — — (80,659) Transfer of loans from held-for-investment — 80,659 — 80,659 Accretion of loan discount and other amortization 28,702 28,702 Valuation provision on loans (2,927) 22,899 — 19,972 Fair value adjustments due to: — — — — Changes in instrument-specific credit risk 4,138 — (46,291) (42,153) Other factors — — — — Balance at December 31, 2019 $ 925,706 $ 1,429,052 $ 4,613,612 $ 6,968,370 Fair value adjustment due to fair value option (6,020) — — (6,020) Originations — — 61,684,462 61,684,462 Sales — (791,974) (64,692,996) (65,484,970) Purchases/additional fundings — 110,741 3,322,369 3,433,110 Proceeds from repayments (145,767) (99,845) (177,723) (423,335) Transfer of loans to other assets (A) — (3,449) (22,255) (25,704) Transfer of loans to real estate owned (6,754) (21,681) (7,035) (35,470) Transfers of loans to held for sale (62,274) — (62,274) Transfer of loans from held for investment — — 62,274 62,274 Valuation provision on loans — (112,957) — (112,957) Fair value adjustments due to: — — — — Changes in instrument-specific credit risk 27,036 — (12,323) 14,713 Other factors (57,748) — (64,569) (122,317) Balance at December 31, 2020 $ 674,179 $ 509,887 $ 4,705,816 $ 5,889,882 (A) Represents loans for which foreclosure has been completed and for which New Residential has made, or intends to make, a claim with the governmental agency that has guaranteed the loans that are recognized as claims receivable in Other Assets (Note 2). Performing Loans Balance at December 31, 2018 $ 591,253 Ditech Acquisition (C) 381,039 Purchases/additional fundings — Proceeds from repayments (102,340) Accretion of loan discount (premium) and other amortization (A) 12,661 Provision for loan losses (595) Transfer of loans to other assets (B) — Transfer of loans to real estate owned (6,223) Transfers of loans to held for sale (20,505) Fair value adjustment 4,138 Balance at December 31, 2019 $ 859,428 (A) Includes accelerated accretion of discount on loans paid in full and on loans transferred to other assets. (B) Represents loans for which foreclosure has been completed and for which New Residential has made, or intends to make, a claim with the governmental agency that has guaranteed the loans that are now recognized as claims receivable in Other Assets (Note 2). (C) As a result of the Ditech Acquisition, New Residential acquired the servicing on certain residual tranches of Non-Agency RMBS it already owned, and now consolidates the trusts. Activities related to the valuation and loss provision on reverse mortgage loans and allowance for loan losses on performing loans held-for-investment were as follows: Performing Loans Balance at December 31, 2018 $ — Provision for loan losses (A) 595 Charge-offs (B) (595) Balance at December 31, 2019 $ — (A) Based on an analysis of collective borrower performance, credit ratings of borrowers, loan-to-value ratios, estimated value of the underlying collateral, key terms of the loans and historical and anticipated trends in defaults and loss severities at a pool level. (B) Loans, other than PCD loans, are generally charged off or charged down to the net realizable value of the collateral (i.e., fair value less costs to sell), with an offset to the allowance for loan losses, when available information confirms that loans are uncollectible. Purchased Credit Deteriorated (“PCD”) Loans New Residential determined at acquisition that the PCD loans acquired would be aggregated into pools based on common risk characteristics (FICO score, delinquency status, collateral type, loan-to-value ratio). Loans aggregated into pools are accounted for as if each pool were a single loan with a single composite interest rate and an aggregate expectation of cash flows, including consideration of involuntary prepayments. Activities related to the carrying value of PCD loans held-for-investment were as follows: Balance at December 31, 2018 $ 144,065 Purchases/additional fundings — Sales — Proceeds from repayments (16,855) Accretion of loan discount and other amortization 16,041 (Allowance) reversal for loan losses (2,332) Transfer of loans to real estate owned (14,487) Transfer of loans to held-for-sale (60,154) Balance at December 31, 2019 $ 66,278 (A) An allowance represents the present value of cash flows expected at acquisition that are no longer expected to be collected. A reversal results from an increase to expected cash flows that reverses a prior allowance. The following is a summary of the changes in accretable yield for these loans: Balance at December 31, 2018 $ 68,632 Additions — Accretion (16,041) Reclassifications from (to) non-accretable difference (A) 9,361 Disposals (B) (11,515) Transfer of loans to held-for-sale (C) (13,415) Balance at December 31, 2019 $ 37,022 (A) Represents a probable and significant increase (decrease) in cash flows previously expected to be uncollectible. (B) Includes sales of loans or foreclosures, which result in removal of the loan from the PCD loan pool at its carrying amount. (C) Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff. Net Interest Income December 31, 2020 2019 2018 Interest Income: Loans held-for-investment, at fair value $ 53,264 $ 60,301 $ 76,129 Loans held-for-sale, at lower of cost or fair value 50,130 65,926 45,653 Loans held-for-sale, at fair value 135,729 175,926 51,562 Total interest income 239,123 302,153 173,344 Interest Expense: Loans held-for-investment, at fair value 21,029 19,381 23,618 Loans held-for-sale, at lower of cost or fair value 22,541 40,067 35,796 Loans held-for-sale, at fair value 90,064 109,723 24,186 Total interest expense 133,634 169,171 83,600 Net interest income $ 105,489 $ 132,982 $ 89,744 Gain on originated mortgage loans, held-for-sale, net NewRez, a wholly owned subsidiary of New Residential, originates conventional, government-insured and nonconforming residential mortgage loans for sale and securitization. The GSEs or Ginnie Mae guarantee conventional and government-insured mortgage securitizations and mortgage investors issue nonconforming private label mortgage securitizations while NewRez generally retains the right to service the underlying residential mortgage loans. In connection with the transfer of loans to the GSEs or mortgage investors, New Residential reports gain on originated mortgage loans, held-for-sale, net in its Consolidated Statements of Income. Gain on originated mortgage loans, held-for-sale, net is summarized below: Year Ended December 31, 2020 2019 2018 Gain on loans originated and sold, net (A) $ 811,288 $ 53,554 $ 47,172 Gain (loss) on settlement of mortgage loan origination derivative instruments (B) (361,755) (53,374) 1,234 MSRs retained on transfer of loans (C) 666,414 374,450 35,311 Other (D) 49,270 27,564 3,977 Realized gain on sale of originated mortgage loans, net $ 1,165,217 $ 402,194 87,694 Change in fair value of loans 99,908 28,761 3,695 Change in fair value of interest rate lock commitments (Note 11) 249,183 26,151 23 Change in fair value of derivative instruments (Note 11) (115,216) 3,001 (5,347) Gain on originated mortgage loans, held-for-sale, net $ 1,399,092 $ 460,107 $ 86,065 (A) Includes loan origination fees of $1,658.6 million and $421.3 million in the years ended December 31, 2020 and 2019, respectively. (B) Represents settlement of forward securities delivery commitments utilized as an economic hedge for mortgage loans not included within forward loan sale commitments. (C) Represents the initial fair value of the capitalized mortgage servicing rights upon loan sales with servicing retained. (D) Includes fees for services associated with the loan origination process.

CONSUMER LOANS

CONSUMER LOANS	12 Months Ended
CONSUMER LOANS	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
CONSUMER LOANS	CONSUMER LOANS New Residential, through limited liability companies (together, the “Consumer Loan Companies”), has a co-investment in a portfolio of consumer loans. The portfolio includes personal unsecured loans and personal homeowner loans. OneMain is the servicer of the loans and provides all servicing and advancing functions for the portfolio. As of December 31, 2020, New Residential owns 53.5% of the limited liability company interests in, and consolidates, the Consumer Loan Companies. On September 25, 2020, the Consumer Loan Companies refinanced the outstanding asset-backed notes with an asset-backed securitization for approximately $663.0 million. The proceeds in excess of the refinanced debt of $4.8 million were distributed to the respective co-investors of which New Residential received approximately $2.6 million. New Residential also purchased certain newly originated consumer loans from a third party (“Consumer Loan Seller”). These loans are not held in the Consumer Loan Companies and have been designated as performing consumer loans, held-for-investment. In addition, see “Equity Method Investees” below. The following table summarizes the investment in consumer loans, held-for-investment held by New Residential: Unpaid Principal Balance Interest in Consumer Loans Carrying Value Weighted Average Coupon Weighted Average Expected Life (Years) (A) Weighted Average Delinquency (B) December 31, 2020 Consumer Loan Companies Performing Loans $ 490,222 53.5 % $ 553,419 18.3 % 3.6 3.7 % Purchased Credit Deteriorated Loans (C) 127,899 53.5 % 129,513 14.1 % 3.5 7.4 % Other - Performing Loans 2,862 100.0 % 2,643 15.3 % 0.4 4.3 % Total Consumer Loans, held-for-investment $ 620,983 $ 685,575 17.4 % 3.6 4.4 % December 31, 2019 Consumer Loan Companies Performing Loans $ 644,676 53.5 % $ 682,310 18.8 % 4.0 4.7 % Purchased Credit Deteriorated Loans (C) 170,083 53.5 % 136,633 15.5 % 3.7 10.1 % Other - Performing Loans 9,158 100.0 % 8,602 15.1 % 0.7 6.1 % Total Consumer Loans, held-for-investment $ 823,917 $ 827,545 18.0 % 3.9 5.9 % (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) Represents the percentage of the total unpaid principal balance that is 30+ days delinquent. Delinquency status is the primary credit quality indicator as it provides early warning of borrowers who may be experiencing financial difficulties. (C) Includes loans with evidence of credit deterioration since origination where it is probable that New Residential will not collect all contractually required principal and interest payments, which are accounted for as PCD loans. See Note 12 regarding the financing of consumer loans. The following table summarizes the past due status and difference between the aggregate unpaid principal balance and the aggregate fair value of consumer loans as of December 31, 2020: Days Past Due Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Balance Under 90 Days $ 611,978 $ 675,691 $ 63,713 90 days or more past due 9,005 9,884 879 Total $ 620,983 $ 685,575 $ 64,592 Performing Loans The following table provides past due information regarding New Residential’s performing consumer loans, held-for-investment, which is an important indicator of credit quality and the establishment of the allowance for loan losses: December 31, 2019 Days Past Due Delinquency Status (A) Current 95.3 % 30-59 1.8 % 60-89 1.2 % 90-119 (B) 0.7 % 120+ (B) (C) 1.0 % 100.0 % (A) Represents the percentage of the total unpaid principal balance that corresponds to loans that are in each delinquency status. (B) Includes loans more than 90 days past due and still accruing interest. (C) Interest is accrued up to the date of charge-off at 180 days past due. Activities related to the carrying value of consumer loans, held-for-investment, at fair value were as follows: Balance at December 31, 2019 827,545 Fair value adjustment due to fair value option 36,472 Additional fundings (A) 33,041 Proceeds from repayments (229,218) Accretion of loan discount and premium amortization, net 24,120 Fair value adjustments due to: Changes in instrument-specific credit risk 5,195 Other factors (11,580) Balance at December 31, 2020 $ 685,575 (A) Represents draws on consumer loans with revolving privileges. Activities related to the carrying value of performing consumer loans, held-for-investment were as follows: Performing Loans Balance at December 31, 2018 $ 889,285 Purchases — Additional fundings (A) 54,375 Proceeds from repayments (213,525) Accretion of loan discount and premium amortization, net 186 Gross charge-offs (38,563) Additions to the allowance for loan losses, net (846) Balance at December 31, 2019 $ 690,912 (A) Represents draws on consumer loans with revolving privileges. Activities related to the allowance for loan losses on performing consumer loans, held-for-investment were as follows: Collectively Evaluated (A) Individually Impaired (B) Total Balance at December 31, 2018 $ 2,604 $ 2,064 $ 4,668 Provision (reversal) for loan losses 30,008 846 30,854 Net charge-offs (C) (32,057) — (32,057) Balance at December 31, 2019 $ 555 $ 2,910 $ 3,465 (A) Represents smaller-balance homogeneous loans that are not individually considered impaired and are evaluated based on an analysis of collective borrower performance, key terms of the loans and historical and anticipated trends in defaults and loss severities, and consideration of the unamortized acquisition discount. (B) Represents consumer loan modifications considered to be troubled debt restructurings (“TDRs”) as they provide concessions to borrowers, primarily in the form of interest rate reductions, who are experiencing financial difficulty. As of December 31, 2019, there was $18.0 million in UPB and $15.9 million in carrying value of consumer loans classified as TDRs. (C) Consumer loans, other than PCD loans, are charged off when available information confirms that loans are uncollectible, which is generally when they become 180 days past due. Charge-offs are presented net of $8.6 million in recoveries of previously charged-off UPB in 2020. Purchased Credit Deteriorated Loans A portion of the consumer loans are considered PCD loans. Activities related to the carrying value of PCD consumer loans, held-for-investment were as follows: Balance at December 31, 2018 $ 182,917 (Allowance) reversal for loan losses (A) 31 Proceeds from repayments (78,519) Accretion of loan discount and other amortization 32,204 Balance at December 31, 2019 $ 136,633 (A) An allowance represents the present value of cash flows expected at acquisition that are no longer expected to be collected. A reversal results from an increase to expected cash flows that reverses a prior allowance. The following is the unpaid principal balance and carrying value for consumer loans, for which, as of the acquisition date, it was probable that New Residential would be unable to collect all contractually required payments: Unpaid Principal Balance Carrying Value December 31, 2019 $ 170,083 $ 136,633 The following is a summary of the changes in accretable yield for these loans: Balance at December 31, 2018 $ 126,518 Accretion (32,204) Reclassifications from (to) non-accretable difference (A) 10,949 Balance at December 31, 2019 $ 105,263 (A) Represents a probable and significant increase (decrease) in cash flows previously expected to be uncollectible. Equity Method Investees In February 2017, New Residential completed a co-investment, through a newly formed entity, PF LoanCo Funding LLC (“LoanCo”), to purchase up to $5.0 billion worth of newly originated consumer loans from Consumer Loan Seller over a two Additionally, New Residential and the LoanCo co-investors agreed to purchase warrants to purchase up to 177.7 million shares of Series F convertible preferred stock in the Consumer Loan Seller’s parent company (“ParentCo”). The holder of the warrants has the option to purchase an equivalent number of shares of Series F convertible preferred stock in ParentCo at a price of $0.01 per share. The Series F convertible preferred stock holders have the right to convert such preferred stock to common stock at any time, are entitled to the number of votes equal to the number of shares of common stock into which such shares of convertible preferred stock could be converted, and will have liquidation rights in the event of liquidation. As of December 31, 2020 and 2019, the warrants are held on New Residential’s Consolidated Balance Sheet in Other Assets and carried at $23.2 million and $28.0 million, respectively. The following table summarizes the income earned from the Company’s investments in LoanCo and WarrantCo: Year Ended December 31, 2019 Interest income $ 19,912 Interest expense (6,487) Change in fair value of consumer loans and warrants (4,596) Gain on sale of consumer loans (B) (10,711) Other expenses (3,871) Net income $ (5,753) New Residential’s equity in net income $ (1,438) New Residential’s percentage ownership 25.0 % (A) Data as of, and for the periods ended, November 30, 2019, as a result of the one month reporting lag. (B) During the year ended December 31, 2019, LoanCo sold, through securitizations which were treated as sales for accounting purposes, $406.1 million in UPB of consumer loans. LoanCo retained $83.9 million of residual interest in the securitizations and distributed them to the LoanCo co-investors, including New Residential. New Residential’s investment in LoanCo and WarrantCo changed as follows: Balance at December 31, 2018 $ 38,294 Contributions to equity method investees 64,499 Distributions of earnings from equity method investees (8,607) Distributions of capital from equity method investees (92,748) Earnings from investments in consumer loans, equity method investees (1,438) Balance at December 31, 2019 $ —

DERIVATIVES

DERIVATIVES	12 Months Ended
DERIVATIVES	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES	DERIVATIVES New Residential uses interest rate swaps and interest rate caps as economic hedges to hedge a portion of its interest rate risk exposure. Interest rate risk is sensitive to many factors, including governmental monetary and tax policies, domestic and international economic and political considerations, as well as other factors. New Residential’s credit risk with respect to economic hedges is the risk of default on New Residential’s investments that results from a borrower’s or counterparty’s inability or unwillingness to make contractually required payments. New Residential may at times hold to-be-announced forward contract positions (“TBAs”) in order to mitigate New Residential’s interest rate risk on certain specified mortgage backed securities and any amounts or obligations owed by or to New Residential are subject to the right of set-off with the TBA counterparty. As part of executing these trades, New Residential may enter into agreements with its TBA counterparties that govern the transactions for the TBA purchases or sales made, including margin maintenance, payment and transfer, events of default, settlements, and various other provisions. New Residential may also utilize interest rate lock commitments (“IRLCs”), which represent a commitment to a particular interest rate provided the borrower is able to close the loan within a specified period, and forward loan sale and securities delivery commitments, which represent a commitment to sell specific mortgage loans at prices which are fixed as of the forward commitment date. New Residential enters into forward loan sale and securities delivery commitments in order to hedge the exposure related to IRLCs and mortgage loans that are not covered by mortgage loan sale commitments. New Residential’s derivatives are recorded at fair value on the Consolidated Balance Sheets as follows: December 31, Balance Sheet Location 2020 2019 Derivative assets Interest Rate Swaps Other assets $ — $ 155 Interest Rate Lock Commitments Other assets 289,355 41,346 TBAs Other assets 789 — $ 290,144 $ 41,501 Derivative liabilities Interest Rate Swaps (A) Accrued expenses and other liabilities $ 25 $ — Interest Rate Lock Commitments Accrued expenses and other liabilities 281 1,455 Forward Loan Sale Commitments Accrued expenses and other liabilities — 27 TBAs Accrued expenses and other liabilities 119,456 5,403 $ 119,762 $ 6,885 (A) Net of $237.7 million and $171.7 million of related variation margin accounts as of December 31, 2020 and December 31, 2019, respectively. The following table summarizes notional amounts related to derivatives: December 31, 2020 2019 Interest Rate Caps (A) $ — $ 12,500 Interest Rate Swaps (B) 6,515,000 4,900,000 Interest Rate Lock Commitments 15,031,345 4,043,935 Forward Loan Sale Commitments — 43,654 TBAs, short position (C) 23,529,408 5,048,000 TBAs, long position (C) — 11,692,212 (A) As of December 31, 2019, caps LIBOR at 4.0% for $12.5 million of notional. The weighted average maturity of the interest rate caps as of December 31, 2019 was 11 months. (B) Includes $6.5 billion notional of Receive LIBOR/Pay Fixed of 2.2% and $0.0 billion notional of Receive Fixed of 0.0%/Pay LIBOR with weighted average maturities of 47 months and 0 months, respectively, as of December 31, 2020. Includes $0.0 billion notional of Receive LIBOR/Pay Fixed of 0.0% and $0.9 billion notional of Received Fixed of 1.9%/Pay LIBOR with weighted average maturities of 36 months and 87 months, respectively, as of December 31, 2019. (C) Represents the notional amount of Agency RMBS, classified as derivatives. The following table summarizes all income (losses) recorded in relation to derivatives: Year Ended December 31, 2020 2019 2018 Change in fair value of derivative investments (A) Interest Rate Caps $ — $ (3) $ 431 Interest Rate Swaps (53,467) (58,918) (108,098) TBAs — 2,778 (567) (53,467) (56,143) (108,234) Gain (loss) on settlement of investments, net Interest Rate Caps $ — $ — $ (603) Interest Rate Swaps (2,685) (8,671) 65,823 TBAs (B) (72,127) (121,252) (10,353) (74,812) (129,923) 54,867 Gain on originated mortgage loans, held for sale, net (A) Interest Rate Lock Commitments $ 249,183 $ 26,151 $ 23 TBAs (115,243) 3,067 (5,064) Forward Loan Sale Commitments 27 (66) (283) 133,967 29,152 (5,324) Total income (losses) $ 5,688 $ (156,914) $ (58,691) (A) Represents unrealized gains (losses). (B) Excludes $361.8 millionand $53.4 million in loss on settlement and $1.2 million in gain on settlement included as a realized gain on sale of originated mortgage loans, held-for-sale, net (Note 9) for the years ended December 31, 2020, 2019 and 2018, respectively.

DEBT OBLIGATIONS

DEBT OBLIGATIONS	12 Months Ended
DEBT OBLIGATIONS	Dec. 31, 2020
Debt Disclosure [Abstract]
DEBT OBLIGATIONS	DEBT OBLIGATIONS The following table presents certain information regarding New Residential’s secured financing agreements and secured notes and bonds payable debt obligations: December 31, 2020 December 31, 2019 Collateral Debt Obligations/Collateral Outstanding Face Amount Carrying Value (A) Final Stated Maturity (B) Weighted Average Funding Cost Weighted Average Life (Years) Outstanding Face Amortized Cost Basis Carrying Value Weighted Average Life (Years) Carrying Value (A) Secured Financing Agreements (C) Repurchase Agreements: Warehouse Credit Facilities-Residential Mortgage Loans (F) $ 4,043,156 $ 4,039,564 Feb-21 to Dec-22 2.18 % 0.6 $ 4,370,264 $ 4,496,831 $ 4,465,054 19.5 $ 5,053,207 Agency RMBS (D) 12,682,427 12,682,427 Jan-21 0.24 % 0.2 12,929,057 13,715,013 13,800,351 0.9 15,481,677 Non-Agency RMBS (E) 818,063 817,209 Jan-21 to Mar-21 3.48 % 0.3 17,183,226 1,534,798 1,548,351 0.7 7,317,519 Real Estate Owned (G) (H) 8,480 8,480 Feb-21 to Dec-22 3.13 % 1.9 N/A N/A 11,098 N/A 63,822 Total Secured Financing Agreements 17,552,126 17,547,680 0.84 % 0.3 27,916,225 Secured Notes and Bonds Payable Excess MSRs (I) 275,088 275,088 Aug-24 4.36 % 3.7 101,142,417 317,234 398,969 6.1 217,300 MSRs (J) 2,704,923 2,691,791 Jul-22 to Dec-25 4.52 % 3.5 416,212,194 4,457,541 4,400,657 5.6 2,640,036 Servicer Advance Investments (K) 423,144 423,144 Apr-21 to Dec-22 1.45 % 1.5 449,150 512,958 538,056 6.0 443,248 Servicer Advances (K) 2,593,643 2,585,575 Apr-21 to Sep-23 2.42 % 1.8 2,970,329 3,002,267 3,002,267 0.7 2,738,424 Residential Mortgage Loans (L) 1,045,275 1,039,838 Apr-21 to Aug-60 4.25 % 30.2 1,602,289 1,535,095 1,365,250 4.8 864,451 Consumer Loans (M) 625,166 628,759 Sep -37 2.03 % 3.6 618,055 682,866 682,866 3.6 816,689 Total Secured Notes and Bonds Payable 7,667,239 7,644,195 3.39 % 6.5 7,720,148 Total/Weighted Average $ 25,219,365 $ 25,191,875 1.61 % 2.2 $ 35,636,373 (A) Net of deferred financing costs. (B) All debt obligations with a stated maturity through the date of issuance were refinanced, extended or repaid. (C) These secured financing agreements had approximately $48.5 million of associated accrued interest payable as of December 31, 2020. (D) All Agency RMBS repurchase agreements have a fixed rate. (E) All Non-Agency RMBS secured financing agreements have LIBOR-based floating interest rates. This also includes repurchase agreements and related collateral of $25.2 million and $35.1 million, respectively, on retained bonds collateralized by Agency MSRs. (F) Includes $258.0 million of repurchase agreements which bear interest at a fixed rate of 4.4%. All remaining repurchase agreements have LIBOR-based floating interest rates. (G) All repurchase agreements have LIBOR-based floating interest rates. (H) Includes financing collateralized by receivables including claims from FHA on Ginnie Mae EBO loans for which foreclosure has been completed and for which New Residential has made or intends to make a claim on the FHA guarantee. (I) Includes $275.1 million of corporate loans which bear interest at a fixed rate of 4.4%. (J) Includes $425.1 million of MSR notes which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.5%; $329.9 million of MSR notes which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.5%; and $1,950.0 million of capital markets notes with fixed interest rates ranging 3.8% to 5.4%. The outstanding face amount of the collateral represents the UPB of the residential mortgage loans underlying the MSRs and MSR financing receivables that secure these notes. (K) $2.0 billion face amount of the notes have a fixed rate while the remaining notes bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.2% to 1.9%. Collateral includes Servicer Advance Investments, as well as servicer advances receivable related to the MSRs and MSR financing receivables owned by NRM. (L) Represents (i) a $5.7 million note payable to Mr. Cooper which includes a $1.5 million receivable from government agency and bears interest equal to one-month LIBOR plus 2.9%, (ii) $58.3 million of SAFT 2013-1 mortgage-backed securities issued with fixed interest rate of 3.7% (see Note 13 for fair value details), (iii) $150.9 million of MDST Trusts asset-backed notes held by third parties which bear interest equal to 6.6% (see Note 13 for fair value details), and (iv) $947.5 million of bonds held by third parties which bear interest at a fixed rate ranging from 3.2% to 5.0%. (M) Includes the SpringCastle debt, which is composed of the following classes of asset-backed notes held by third parties: $572.1 million UPB of Class A notes with a coupon of 2.0% and a stated maturity date in September 2037 and $53.0 million UPB of Class B notes with a coupon of 2.7% and a stated maturity date in May 2036. As of December 31, 2020, New Residential had no outstanding secured financing agreements where the amount at risk with any individual counterparty or group of related counterparties exceeded 10% of New Residential’s stockholders’ equity. The amount at risk under secured financing agreements is defined as the excess of carrying amount (or market value, if higher than the carrying amount) of the securities or other assets sold under agreement to repurchase, including accrued interest plus any cash or other assets on deposit to secure the repurchase obligation, over the amount of the repurchase liability (adjusted for accrued interest). General Certain of the debt obligations included above are obligations of New Residential’s consolidated subsidiaries, which own the related collateral. In some cases, such collateral is not available to other creditors of New Residential. New Residential has margin exposure on $17.6 billion of secured financing agreements as of December 31, 2020. To the extent that the value of the collateral underlying these secured financing agreements declines, New Residential may be required to post margin, which could significantly impact its liquidity. Activities related to the carrying value of New Residential’s debt obligations were as follows: Excess MSRs MSRs Servicer Advances (A) Real Estate Securities Residential Mortgage Loans and REO Consumer Loans Total Balance at December 31, 2018 $ 297,563 $ 2,360,856 $ 3,382,455 $ 11,780,855 $ 3,898,059 $ 936,447 $ 22,656,235 Secured Financing Agreements: Borrowings — — — 207,138,969 36,177,659 — 243,316,628 Repayments — — — (196,120,793) (34,833,314) — (230,954,107) Capitalized deferred financing costs, net of amortization — — — 165 (429) — (264) Secured Notes and Bonds Payable: Ditech Acquisition (B) — — — — 209,459 — 209,459 Borrowings 456,741 2,456,410 4,952,585 — 912,445 928,683 9,706,864 Repayments (537,200) (2,178,755) (5,149,327) — (383,635) (1,054,610) (9,303,527) Discount on borrowings, net of amortization — — 102 — — 6,169 6,271 Unrealized (gain) loss on notes, fair value — — — — 1,236 — 1,236 Capitalized deferred financing costs, net of amortization 196 1,525 (4,143) — — — (2,422) Balance at December 31, 2019 $ 217,300 $ 2,640,036 $ 3,181,672 $ 22,799,196 $ 5,981,480 $ 816,689 $ 35,636,373 Secured Financing Agreements: Borrowings — — — 113,228,180 63,453,603 — 176,681,783 Repayments — — — (122,526,887) (64,520,481) — (187,047,368) Capitalized deferred financing costs, net of amortization — — — (853) (2,107) — (2,960) Secured Notes and Bonds Payable: Borrowings 193,357 3,575,811 4,072,560 — 875,758 663,047 9,380,533 Repayments (135,569) (3,517,429) (4,245,295) — (697,789) (851,688) (9,447,770) Discount on borrowings, net of amortization — — — — — (2,882) (2,882) Unrealized (gain) loss on notes, fair value — — — — (2,627) 3,593 966 Capitalized deferred financing costs, net of amortization — (6,627) (218) — 45 — (6,800) Balance at December 31, 2020 $ 275,088 $ 2,691,791 $ 3,008,719 $ 13,499,636 $ 5,087,882 $ 628,759 $ 25,191,875 (A) New Residential net settles daily borrowings and repayments of the Secured Notes and Bonds Payable on its servicer advances. (B) As a result of the Ditech Acquisition, New Residential acquired the servicing on certain residual tranches of Non-Agency RMBS it already owned, and now consolidates the respective securities. See Note 9 for the associated loans. Maturities New Residential’s debt obligations as of December 31, 2020 had contractual maturities as follows: Year Ending Nonrecourse (A) Recourse (B) Total 2021 $ 882,761 $ 17,186,206 $ 18,068,967 2022 800,000 1,260,621 2,060,621 2023 1,200,000 302,851 1,502,851 2024 — 583,801 583,801 2025 257,468 1,888,428 2,145,896 2026 and thereafter 1,407,229 — 1,407,229 $ 4,547,458 $ 21,221,907 $ 25,769,365 (A) Includes secured notes and bonds payable of $4.5 billion. (B) Includes secured financing agreements and secured notes and bonds payable of $17.7 billion and $3.5 billion, respectively. Borrowing Capacity The following table represents New Residential’s borrowing capacity as of December 31, 2020: Debt Obligations/ Collateral Borrowing Capacity Balance Outstanding Available Financing Secured Financing Agreements Residential mortgage loans and REO $ 4,913,746 $ 1,254,198 $ 3,659,548 New Loan Originations 6,823,000 2,797,437 4,025,563 Secured Notes and Bonds Payable Excess MSRs 286,380 275,088 11,292 MSRs (B) 3,689,991 2,704,923 985,068 Servicer advances (A)(B) 4,365,000 3,016,787 1,348,213 $ 20,078,117 $ 10,048,433 $ 10,029,684 (A) New Residential’s unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions as set forth in the applicable agreements, including any applicable advance rate. (B) The borrowing capacity for servicing advance and MSR capital notes is equal to the current outstanding principal note balance at December 31,2020. Certain of the debt obligations are subject to customary loan covenants and event of default provisions, including event of default provisions triggered by certain specified declines in New Residential’s equity or a failure to maintain a specified tangible net worth, liquidity, or indebtedness to tangible net worth ratio. New Residential was in compliance with all of its debt covenants as of December 31, 2020. 2020 Term Loan On May 19, 2020, the Company, as borrower, entered into a three In conjunction with the 2020 Term Loan, the Company issued common stock purchase warrants (the “2020 Warrants”) to the lenders. The 2020 Warrants expire approximately three years after the issuance date. The Company recorded the value of the 2020 Term Loan and 2020 Warrants on a relative fair value basis. The estimated fair value of the 2020 Warrants at the date of issuance was approximately $53.5 million and the Company recognized it as a discount to the 2020 Term Loan. Refer to Note 15, Equity and Earnings Per Share, for further details. In August 2020, the Company made a $51.0 million prepayment on the 2020 Term Loan. As a result, The Company recorded a $5.7 million loss on extinguishment of debt, representing a write-off of unamortized debt issuance costs and original issue discount. In September 2020, the Company used the net proceeds from a senior unsecured note (discussed further below), together with cash on hand, to fully retire all of the outstanding principal balance on the 2020 Term Loan. The table below summarizes the interest expense on the 2020 Term Loan: Year Ended December 31, 2020 2019 Coupon interest at 11% $ 20,435 $ — Amortization of debt discounts and issuance costs 5,006 — Total $ 25,441 $ — The 2020 Term Loan contained certain customary affirmative and negative covenants and also required the Company to maintain compliance with certain financial covenants. The Company was in compliance with all financial covenants through extinguishment of the 2020 Term Loan. 2025 Senior Unsecured Notes On September 16, 2020, the Company, as borrower, completed a private offering of $550.0 million aggregate principal amount of 6.250% senior unsecured notes due 2025 (the “2025 Senior Notes”). Interest on the 2025 Senior Notes accrue at the rate of 6.250% per annum with interest payable semi-annually in arrears on each April 15 and October 15, commencing on April 15, 2021. The 2025 Senior Notes mature on October 15, 2025 and the Company may redeem some or all of the 2025 Senior Notes at the Company’s option, at any time from time to time, on or after October 15, 2022 at a price equal to the following fixed redemption prices (expressed as a percentage of principal amount of the 2025 Senior Notes to be redeemed): Year Price 2022 103.125% 2023 101.563% 2024 and thereafter 100.000% Prior to October 15, 2022, the Company will be entitled at its option on one or more occasions to redeem the 2025 Senior Notes in an aggregate principal amount not to exceed 40% of the aggregate principal amount of the 2025 Senior Notes originally issued prior to the applicable redemption date at a fixed redemption price of 106.250%. Net proceeds from the offering were approximately $544.5 million, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by the Company. The Company used the net proceeds from the offering, together with cash on hand, to prepay and retire its then-existing 2020 Term Loan and to pay related fees and expenses. The Company recorded a $61.1 million loss on extinguishment of debt, representing a write-off of unamortized debt issuance costs and original issue discount. The Company incurred fees of approximately $9.0 million in relation to the issuance of the 2025 Senior Notes. These fees were capitalized as debt issuance cost and are grouped and presented as part of Unsecured senior notes, net of issuance costs on the Consolidated Balance Sheets. For the year ended December 31, 2020 , the Company recognized $10.0 million of interest expense. As of December 31, 2020 , the unamortized debt issuance costs was approximately $8.4 million. The 2025 Senior Notes are senior unsecured obligations and rank pari passu in right of payment with all of the Company’s existing and future senior unsecured indebtedness and senior unsecured guarantees. At the time of issuance, the 2025 Senior Notes were not guaranteed by any of the Company’s subsidiaries and none of its subsidiaries are required to guarantee the 2025 Senior Notes in the future, except under limited specified circumstances. The 2025 Senior Notes contain financial covenants and other non-financial covenants, including, among other things, limits on the ability of the Company and its restricted subsidiaries to incur certain indebtedness (subject to various exceptions), requires that the Company maintain total unencumbered assets (as defined in the debt agreement) of not less than 120% of the aggregate principal amount of the outstanding unsecured debt, and imposes certain requirements in order for the Company to merge or consolidate with or transfer all or substantially all of its assets to another person, in each case subject to certain qualifications set forth in the debt agreement. If the Company were to fail to comply with these covenants, after the expiration of the applicable cure periods, the debt maturity could be accelerated or other remedies could be sought by the lenders. As of December 31, 2020, the Company was in compliance with all covenants. In the event of a change of control, each holder of the 2025 Senior Notes will have the right to require the Company to repurchase all or any part of the outstanding balance at a purchase price of 101% of the principal amount of the 2025 Senior Notes repurchased, plus accrued and unpaid interest, if any, to, but not including, the date of such repurchase.

FAIR VALUE MEASUREMENT

FAIR VALUE MEASUREMENT	12 Months Ended
FAIR VALUE MEASUREMENT	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENT	FAIR VALUE MEASUREMENT U.S. GAAP requires the categorization of fair value measurement into three broad levels which form a hierarchy based on the transparency of inputs to the valuation. Level 1 - Quoted prices in active markets for identical instruments. Level 2 - Valuations based principally on other observable market parameters, including: • Quoted prices in active markets for similar instruments, • Quoted prices in less active or inactive markets for identical or similar instruments, • Other observable inputs (such as interest rates, yield curves, volatilities, prepayment rates, loss severities, credit risks and default rates), and • Market corroborated inputs (derived principally from or corroborated by observable market data). Level 3 - Valuations based significantly on unobservable inputs. New Residential follows this hierarchy for its fair value measurements. The classifications are based on the lowest level of input that is significant to the fair value measurement. The carrying values and fair values of New Residential’s assets and liabilities recorded at fair value on a recurring basis, as well as other financial instruments for which fair value is disclosed, as of December 31, 2020 were as follows: Fair Value Principal Balance or Notional Amount Carrying Value Level 1 Level 2 Level 3 Total Assets: Excess mortgage servicing rights, at fair value (A) $ 72,688,905 $ 310,938 $ — $ — $ 310,938 $ 310,938 Excess mortgage servicing rights, equity method investees, at fair value (A) 28,453,512 99,917 — — 99,917 99,917 Mortgage servicing rights, at fair value (A) 363,269,876 3,489,675 — — 3,489,675 3,489,675 Mortgage servicing rights financing receivables, at fair value (A) 72,165,951 1,096,166 — — 1,096,166 1,096,166 Servicer advance investments, at fair value 449,150 538,056 — — 538,056 538,056 Real estate and other securities 31,869,681 14,244,558 — 13,063,634 1,180,924 14,244,558 Residential mortgage loans, held-for-sale 637,138 509,887 — — 509,887 509,887 Residential mortgage loans, held-for-sale, at fair value 4,675,833 4,705,816 — 3,059,611 1,646,205 4,705,816 Residential mortgage loans, held-for-investment, at fair value 769,348 674,179 — — 674,179 674,179 Residential mortgage loans subject to repurchase 1,452,005 1,452,005 — 1,452,005 — 1,452,005 Consumer loans, held-for-investment, at fair value 620,983 685,575 — — 685,575 685,575 Derivative assets 38,427,601 290,144 — 789 289,355 290,144 Note Receivable 49,075 49,889 — — 49,889 49,889 Cash and cash equivalents 944,854 944,854 944,854 — — 944,854 Restricted cash 135,619 135,619 135,619 — — 135,619 Other assets (B) N/A 48,032 11,187 — 36,845 48,032 $ 29,275,310 $ 1,091,660 $ 17,576,039 $ 10,607,611 $ 29,275,310 Liabilities: Secured financing agreements $ 17,552,126 $ 17,547,680 $ — $ 17,552,126 $ — $ 17,552,126 Secured notes and bonds payable (C) 7,667,239 7,644,195 — — 7,651,325 7,651,325 Unsecured senior notes, net of issuance costs 541,516 541,516 — — 541,516 541,516 Residential mortgage loan repurchase liability 1,452,005 1,452,005 — 1,452,005 — 1,452,005 Derivative liabilities 6,648,152 119,762 — 119,481 281 119,762 Excess spread financing 2,190,991 18,420 — — 18,420 18,420 Contingent consideration N/A 14,247 — — 14,247 14,247 $ 27,337,825 $ — $ 19,123,612 $ 8,225,789 $ 27,349,401 (A) The notional amount represents the total unpaid principal balance of the residential mortgage loans underlying the MSRs, MSR Financing Receivables, and Excess MSRs. New Residential does not receive an excess mortgage servicing amount on non-performing loans in Agency portfolios. (B) Excludes the indirect equity investment in a commercial redevelopment project that is accounted for at fair value on a recurring basis based on the NAV of New Residential’s investment. The investment had a fair value of $31.8 million as of December 31, 2020. (C) Includes the SAFT 2013-1, MDST Trusts, NPL/RPL Securitization Trusts and SCFT 2020-A mortgage backed securities issued for which the fair value option for financial instruments was elected and resulted in a fair value of $1.7 billion as of December 31, 2020. The carrying values and fair values of New Residential’s assets and liabilities recorded at fair value on a recurring basis, as well as other financial instruments for which fair value is disclosed, as of December 31, 2019 were as follows: Fair Value Principal Balance or Notional Amount Carrying Value Level 1 Level 2 Level 3 Total Assets: Excess mortgage servicing rights, at fair value (A) $ 88,345,237 $ 379,747 $ — $ — $ 379,747 $ 379,747 Excess mortgage servicing rights, equity method investees, at fair value (A) 33,592,554 125,596 — — 125,596 125,596 Mortgage servicing rights, at fair value (A) 373,850,061 3,967,960 — — 3,967,960 3,967,960 Mortgage servicing rights financing receivables, at fair value (A) 130,984,870 1,718,273 — — 1,718,273 1,718,273 Servicer advance investments, at fair value 462,843 581,777 — — 581,777 581,777 Real estate and other securities 36,159,591 19,477,728 — 11,519,943 7,957,785 19,477,728 Residential mortgage loans, held-for-investment 502,352 441,263 — — 435,234 435,234 Residential mortgage loans, held-for-sale 1,531,505 1,429,052 — — 1,438,302 1,438,302 Residential mortgage loans, held-for-sale, at fair value (B) 4,675,806 4,613,612 — 1,099,230 3,514,382 4,613,612 Residential mortgage loans, held-for-investment, at fair value (C) 452,771 484,443 — — 484,443 484,443 Residential mortgage loans subject to repurchase 172,336 172,336 — 172,336 — 172,336 Consumer loans, held-for-investment 823,917 827,545 — — 849,739 849,739 Derivative assets 8,360,894 41,501 — 155 41,346 41,501 Cash and cash equivalents 528,737 528,737 528,737 — — 528,737 Restricted cash 162,197 162,197 162,197 — — 162,197 Other assets (D) N/A 60,654 7,952 — 52,703 60,655 $ 35,012,421 $ 698,886 $ 12,791,664 $ 21,547,287 $ 35,037,837 Liabilities: Secured financing agreements $ 27,917,709 $ 27,916,225 $ — $ 27,917,709 $ — $ 27,917,709 Secured notes and bonds payable (E) 7,733,135 7,720,148 — — 7,779,060 7,779,060 Residential mortgage loan repurchase liability 172,336 172,336 — 172,336 — 172,336 Derivative liabilities 17,379,407 6,885 — 5,430 1,455 6,885 Excess spread financing 2,962,629 31,777 — — 31,777 31,777 Contingent consideration N/A 55,222 — — 55,222 55,222 $ 35,902,593 $ — $ 28,095,475 $ 7,867,514 $ 35,962,989 (A) The notional amount represents the total unpaid principal balance of the residential mortgage loans underlying the MSRs, MSR financing receivables, and Excess MSRs. New Residential does not receive an excess mortgage servicing amount on non-performing loans in Agency portfolios. (B) Includes $267.7 million in fair value of loans that are 90 days or more past due. (C) Includes $21.6 million in fair value of loans that are 90 days or more past due. (D) Excludes the indirect equity investment in a commercial redevelopment project that is accounted for at fair value on a recurring basis based on the NAV of New Residential’s investment. The investment had a fair value of $74.0 million as of December 31, 2019. (E) Includes the MDST Trusts, SAFT 2013-1 mortgage-backed securities and the 2019-RPL1 asset-backed notes issued for which the fair value option for financial instruments was elected and resulted in a fair value of $659.7 million as of December 31, 2019. Fair value measurements categorized within Level 3 are sensitive to changes in the assumptions or methodology used to determine fair value and such changes could result in a significant increase or decrease in the fair value. New Residential’s assets measured at fair value on a recurring basis using Level 3 inputs changed as follows: Level 3 Excess MSRs (A) Excess MSRs in Equity Method Investees (A)(B) Agency Non-Agency MSRs (A) Mortgage Servicing Rights Financing Receivables (A) Servicer Advance Investments Non-Agency RMBS Derivatives (C) Residential Mortgage Loans Consumer Loans Total Balance at December 31, 2018 $ 257,387 $ 190,473 $ 147,964 $ 2,884,100 $ 1,644,504 $ 735,846 $ 8,970,963 $ 10,628 $ 2,330,627 $ — $ 17,172,492 Transfers Transfers from Level 3 — — — — — — — — (32,806) — (32,806) Transfers to Level 3 — — — — — — — — 315,577 — 315,577 Ditech Acquisition — — — 387,170 — — (178,435) — 381,039 — 589,774 Transfers from MSR financing receivables to MSRs — — — 367,121 (367,121) — — — — — — Gains (losses) included in net income Included in provision (reversal) for credit losses on securities (D) — — — — — — (25,174) — — — (25,174) Included in change in fair value of excess mortgage servicing rights (D) (7,559) (2,946) — — — — — — — — (10,505) Included in change in fair value of excess mortgage servicing rights, equity method investees (D) — — 6,800 — — — — — — — 6,800 Included in servicing revenue, net (E) — — — (721,356) — — — — — — (721,356) Included in change in fair value of MSR financing receivable (D) — — — — (189,023) — — — — — (189,023) Included in change in fair value of servicer advance investments — — — — — 10,288 — — — — 10,288 Included in change in fair value of residential mortgage loans — — — — — — — — (63,347) — (63,347) Included in gain (loss) on settlement of investments, net 1,479 30 — — — — 97,191 — — — 98,700 Included in other income (loss), net (D) 1,523 819 — — — — 2,101 29,263 — — 33,706 Gains (losses) included in other comprehensive income (F) — — — — — — 238,217 — — — 238,217 Interest income 14,895 17,752 — — — 27,666 302,705 — — — 363,018 Purchases, sales and repayments Purchases, net (G) — — — 678,424 652,902 1,622,808 2,058,953 — 11,110,245 — 16,123,332 Proceeds from sales (10,018) (57) — (1,539) (22,989) — (1,949,300) — (10,638,483) — (12,622,386) Proceeds from repayments (48,074) (35,957) (29,168) — — (1,814,831) (1,559,436) — (248,503) — (3,735,969) Originations and other — — — 374,040 — — — — 844,476 — 1,218,516 Balance at December 31, 2019 $ 209,633 $ 170,114 $ 125,596 $ 3,967,960 $ 1,718,273 $ 581,777 $ 7,957,785 $ 39,891 $ 3,998,825 $ — $ 18,769,854 (continued on next page) Level 3 Excess MSRs (A) Excess MSRs in Equity Method Investees (A)(B) Agency Non-Agency MSRs (A) Mortgage Servicing Rights Financing Receivables (A) Servicer Advance Investments Non-Agency RMBS Derivatives (C) Residential Mortgage Loans Consumer Loans Total (continued from previous page) Transfers Transfers from Level 3 — — — — — — — — (718,892) — (718,892) Transfers to Level 3 for the adoption of ASU 2016-13 (See Note 2) — — — — — — — — 445,040 827,545 1,272,585 Transfers from MSR financing receivables to MSRs — — — 320,613 (320,613) — — — — — — Gains (losses) included in net income Included in provision (reversal) for credit losses on securities (D) — — — — — — (13,404) — — — (13,404) Included in change in fair value of excess mortgage servicing rights (D) (9,510) (6,722) — — — — — — — — (16,232) Included in change in fair value of excess mortgage servicing rights, equity method investees (D) — — (3,489) — — — — — — — (3,489) Included in servicing revenue, net (E) — — — (1,903,905) — — — — — — (1,903,905) Included in change in fair value of MSR financing receivable (D) — — — — (279,168) — — — — — (279,168) Included in change in fair value of servicer advance investments — — — — — 763 — — — — 763 Included in change in fair value of residential mortgage loans — — — — — — — — (107,604) — (107,604) Included in gain (loss) on settlement of investments, net 66 1 — — — — (953,541) — — — (953,474) Included in other income (loss), net (D) (10,817) (1,373) — — — — (42,506) 249,183 (8,276) (6,385) 179,826 Gains (losses) included in other comprehensive income (F) — — — — — — (580,102) — (6,020) 36,472 (549,650) Interest income 12,299 16,053 — — — 18,182 105,373 — — 24,120 176,027 Purchases, sales and repayments Purchases, net (G) — — — 449,875 (18,267) 1,294,757 575,030 — 2,415,084 33,041 4,749,520 Proceeds from sales (1,056) (5) — (11,282) (4,059) — (5,288,480) — (3,391,887) — (8,696,769) Proceeds from repayments (37,970) (29,775) (22,190) — — (1,357,423) (577,543) — (305,886) (229,218) (2,560,005) Originations and other — — — 666,414 — — (1,688) — — — 664,726 Balance at December 31, 2020 $ 162,645 $ 148,293 $ 99,917 $ 3,489,675 $ 1,096,166 $ 538,056 $ 1,180,924 $ 289,074 $ 2,320,384 $ 685,575 $ 10,010,709 (A) Includes the recapture agreement for each respective pool, as applicable. (B) Amounts represent New Residential’s portion of the Excess MSRs held by the respective joint ventures in which New Residential has a 50% interest. (C) For the purpose of this table, the IRLC asset and liability positions are shown net. (D) The gains (losses) recorded in earnings during the period are attributable to the change in unrealized gains (losses) relating to Level 3 assets still held at the reporting dates and realized gains (losses) recorded during the period. (E) The components of Servicing revenue, net are disclosed in Note 6. (F) These gains (losses) were included in net unrealized gain (loss) on securities in the Consolidated Statements of Comprehensive Income. (G) Net of purchase price adjustments and purchase price fully reimbursable from MSR sellers as a result of prepayment protection. New Residential’s liabilities measured at fair value on a recurring basis using Level 3 inputs changed as follows: Level 3 Excess Spread Financing Mortgage-Backed Securities Issued Contingent Consideration Total Balance at December 31, 2018 $ 39,304 $ 117,048 $ 40,842 $ 197,194 Transfers Transfers from Level 3 — — — — Transfers to Level 3 — — — — Acquisitions — — 13,893 13,893 Ditech Acquisition (D) — 209,459 — 209,459 Gains (losses) included in net income Included in servicing revenue, net (B) (8,406) — — (8,406) Included in other income (A) — 1,236 10,487 11,723 Interest income — — — — Purchases, sales and payments — Purchases — 378,569 — 378,569 Proceeds from sales — — — — Payments — (46,574) (10,000) (56,574) Other 879 — — 879 Balance at December 31, 2019 $ 31,777 $ 659,738 $ 55,222 $ 746,737 Transfers Transfers from Level 3 — — — — Transfers to Level 3 — — — — Acquisitions — — — — Gains (losses) included in net income Included in servicing revenue, net (B) (14,164) — — (14,164) Included in other income (A) — 966 4,844 5,810 Interest income — — — — Purchases, sales and payments Purchases — 1,520,382 — 1,520,382 Proceeds from sales — — — — Payments — (516,769) (45,819) (562,588) Other 807 (1,465) — (658) Balance at December 31, 2020 $ 18,420 $ 1,662,852 $ 14,247 $ 1,695,519 (A) The gains (losses) recorded in earnings during the period are attributable to the change in unrealized gains (losses) relating to Level 3 liabilities still held at the reporting dates and realized gains (losses) recorded during the period. (B) The components of Servicing revenue, net are disclosed in Note 6. (C) These gains (losses) were included in net unrealized gain (loss) on securities in the Consolidated Statements of Comprehensive Income. (D) As a result of the Ditech Acquisition, New Residential acquired MSRs and the servicing on certain residual tranches of Non-Agency RMBS it already owned, and now consolidates the respective securities. See Note 12 for the associated liability. Excess MSRs, Excess MSRs Equity Method Investees, MSRs and MSR Financing Receivables Valuation Fair value estimates of New Residential’s MSRs and Excess MSRs were based on internal pricing models. The valuation technique is based on discounted cash flows. Significant inputs used in the valuations included expectations of prepayment rates, delinquency rates, recapture rates, the mortgage servicing amount or excess mortgage servicing amount of the underlying residential mortgage loans, as applicable, and discount rates that market participants would use in determining the fair values of mortgage servicing rights on similar pools of residential mortgage loans. In addition, for MSRs, significant inputs included the market-level estimated cost of servicing. Significant increases (decreases) in the discount rates, prepayment or delinquency rates, or costs of servicing, in isolation would result in a significantly lower (higher) fair value measurement, whereas significant increases (decreases) in the recapture rates The following tables summarize certain information regarding the ranges and weighted averages of significant inputs used: December 31, 2020 Significant Inputs (A) Prepayment Rate (B) Delinquency (C) Recapture Rate (D) Mortgage Servicing Amount (E) Collateral Weighted Average Maturity Years (F) Excess MSRs Directly Held (Note 5) Agency Original Pools 7.1% - 10.9% (7.8%) —% - 3.5% (1.4%) 4.4% - 23.3% (10.3%) 15 - 31 (21) 13 - 21 (19) Recaptured Pools 7% - 11.9% (9.6%) —% - 4% (0.9%) —% - 35.0% (20.4%) 21 - 29 (24) 19 - 24 (22) 7% - 11.9% (8.4%) —% - 4% (1.2%) —% - 35.0% (13.8%) 15 - 31 (22) 13 - 24 (20) Non-Agency (G) Mr. Cooper and SLS Serviced: Original Pools 6.6% - 11.9% (9%) 2.6% - 13.9% (10.2) —% - 13.1% (10%) 5 - 25 (15) 18 - 29 (23) Recaptured Pools 5.6% - 7.4% (6.1%) 0.2% - 0.5 (0.4) 12.1% - 21.4% (14.2%) 23 - 27 (25) 21 - 23 (23) 5.6% - 11.9% (8.5%) 0.2% - 13.9 (10.2) —% - 21.4% (10.7%) 5 - 27 (17) 18 - 29 (23) Total/Weighted Average—Excess MSRs Directly Held 5.6% - 11.9% (8.5%) —% - 13.9% (4.8%) —% - 35.0% (12.3%) 5 - 31 (19) 13 - 29 (21) Excess MSRs Held through Equity Method Investees (Note 5) Agency Original Pools 7.1% - 10.2% (8%) 1.2% - 2.5% (1.6%) 5.2% - 23.3% (8.9%) 15 - 25 (19) 18 - 19 (18) Recaptured Pools 8.6% - 10.5% (9.3%) 0.6% - 1.7% (1.2%) 11.7% - 28.9% (15%) 22 - 28 (25) 20 - 23 (22) Total/Weighted Average—Excess MSRs Held through Investees 7.5% - 10.7% (9.0%) 0.6% - 2.2% (1.2%) 5.5% - 29.8% (12.9%) 15 - 28 (22) 18 - 23 (20) Total/Weighted Average—Excess MSRs All Pools 5.6% - 11.9% (8.5%) —% - 13.9% (3.6%) —% - 35.0% (12.2%) 5 - 31 (20) 13 - 29 (21) MSRs (Note 6) Agency (H) Mortgage Servicing Rights (J) 7.9% - 23.3% (13.1%) 0.4% - 2.1% (0.9%) 2.5% - 35.5% (20.6%) 25 - 31 (28) — - 30 (22) MSR Financing Receivables 12.1% 0.7% 15.9% 25 — - 30 (22) 7.9% - 23.3% (13.1%) 0.4% - 2.1% (0.9%) 2.5% - 35.5% (20.5%) 25 - 31 (28) — - 30 (22) Non-Agency Mortgage Servicing Rights 9.5% - 16.4% (13.1%) 0.9% - 9.4% (4.9%) 4.3% - 31.6% (18.6%) 26 - 88 (55) — - 30 (16) MSR Financing Receivables 7.6% 13.0% 7.9% 48 — - 30 (25) 7.6% - 16.4% (7.7%) 0.9% - 13.0% (12.9%) 4.3% - 31.6% (8.1%) 26 - 88 (48) — - 30 (25) Ginnie Mae Mortgage Servicing Rights (J) 9.0% - 24.1% (20.3%) 2.3% - 5.6% (4.7%) 16.2% - 35.0% (24.9%) 32 - 50 (45) — - 30 (27) 7.6% - 24.1% (12.9%) 0.4% - 13.0% (4.2%) 2.5% - 35.5% (20%) 25 - 88 (35) — - 30 (23) December 31, 2019 Significant Inputs (A) Prepayment Rate (B) Delinquency (C) Recapture Rate (D) Mortgage Servicing Amount (E) Collateral Weighted Average Maturity Years (F) Excess MSRs Directly Held (Note 5) Agency Original Pools 8.6 % 1.1 % 20.3 % 21 20 Recaptured Pools 10.7 % 0.5 % 27.8 % 23 23 9.2 % 0.9 % 22.3 % 22 21 Non-Agency (G) Mr. Cooper and SLS Serviced: Original Pools 9.7 % N/A 15.5 % 15 24 Recaptured Pools 7.5 % N/A 17.4 % 24 23 9.4 % N/A 15.8 % 16 24 Total/Weighted Average—Excess MSRs Directly Held 9.3 % 0.9 % 19.4 % 19 22 Excess MSRs Held through Equity Method Investees (Note 5) Agency Original Pools 9.3 % 1.4 % 23.7 % 19 19 Recaptured Pools 10.3 % 0.8 % 26.7 % 24 22 Total/Weighted Average—Excess MSRs Held through Investees 9.8 % 1.1 % 25.1 % 21 20 Total/Weighted Average—Excess MSRs All Pools 9.5 % 1.0 % 21.4 % 20 21 MSRs (Note 6) Agency (H) Mortgage Servicing Rights (I) 12.5 % 1.0 % 23.3 % 28 22 MSR Financing Receivables (I) 15.4 % 0.4 % 15.8 % 27 25 12.9 % 0.9 % 22.2 % 28 22 Non-Agency Mortgage Servicing Rights 11.6 % 1.2 % 22.1 % 31 16 MSR Financing Receivables (I) 8.3 % 14.4 % 9.3 % 47 25 8.4 % 14.2 % 9.5 % 47 25 Ginnie Mae Mortgage Servicing Rights (J) 16.2 % 4.4 % 28.1 % 42 27 12.3 % 4.1 % 20.0 % 33 23 (A) Weighted by fair value of the portfolio. (B) Projected annualized weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector. (C) Projected percentage of residential mortgage loans in the pool for which the borrower will miss its mortgage payments. (D) Percentage of voluntarily prepaid loans that are expected to be refinanced by the related servicer or subservicer, as applicable. (E) Weighted average total mortgage servicing amount, in excess of the basic fee as applicable, measured in bps. As of December 31, 2020 and 2019, weighted average costs of subservicing of $6.20-$7.50 ($7.00) and $7.18, respectively, per loan per month was used to value the agency MSRs, including MSR Financing Receivables. Weighted average costs of subservicing of $10.90 and $11.28, respectively, per loan per month was used to value the non-agency MSRs, including MSR Financing Receivables. Weighted average cost of subservicing of $8.90 and $9.20, respectively, per loan per month was used to value the Ginnie Mae MSRs. (F) Weighted average maturity of the underlying residential mortgage loans in the pool. (G) For certain pools, the Excess MSR will be paid on the total UPB of the mortgage portfolio (including both performing and delinquent loans until REO). For these pools, no delinquency assumption is used. (H) Represents Fannie Mae and Freddie Mac MSRs. (I) For certain pools, recapture rate represents the expected recapture rate with the successor subservicer appointed by NRM. (J) Includes valuation of the related Excess spread financing (Note 6). With respect to valuing the Ocwen-serviced MSR financing receivables, which include a significant servicer advances receivable component, the cost of financing servicer advances receivable is assumed to be LIBOR plus 2.1%. As of December 31, 2020 and 2019, weighted average discount rates of 7.8% (range 7.5% -8.0%) and 7.8%, respectively, were used to value New Residential’s Excess MSRs (directly and through equity method investees). As of December 31, 2020 and 2019, weighted average discount rates of 7.7% (range 7.3%-13.0%) and 7.8% were used to value New Residential’s MSRs, respectively. As of December 31, 2020 and 2019, weighted average discount rates of 9.4% (range 7.4%-9.5%) and 8.9%, respectively, were used to value New Residential’s MSR financing receivables. All of the assumptions listed have some degree of market observability, based on New Residential’s knowledge of the market, relationships with market participants, and use of common market data sources. New Residential uses assumptions that generate its best estimate of future cash flows for each investment in MSRs and Excess MSRs. When valuing MSRs and Excess MSRs, New Residential uses the following criteria to determine the significant inputs: • Prepayment Rate: Prepayment rate projections are in the form of a “vector” that varies over the expected life of the pool. The prepayment vector specifies the percentage of the collateral balance that is expected to prepay voluntarily (i.e., pay off) and involuntarily (i.e., default) at each point in the future. The prepayment vector is based on assumptions that reflect macroeconomic conditions like home price appreciation, current level of interest rates as well as loan level factors such as the borrower’s interest rate, FICO score, loan-to-value ratio, debt-to-income ratio, vintage on a loan level basis. New Residential considers historical prepayment experience associated with the collateral when determining this vector and also reviews industry research on the prepayment experience of similar loan pools. This data is obtained from remittance reports, market data services and other market sources. • Delinquency Rates: For existing mortgage pools, delinquency rates are based on the recent pool-specific experience of loans that missed their latest mortgage payments. Delinquency rate projections are in the form of a “vector” that varies over the expected life of the pool. The delinquency vector specifies the percentage of the unpaid principal balance that is expected to be delinquent each month. The delinquency vector is based on assumptions that reflect macroeconomic conditions, the historical delinquency rates for the pools and the underlying borrower characteristics such as the FICO score and loan-to-value ratio. For the recapture agreements and recaptured loans, delinquency rates are based on the experience of similar loan pools originated by New Residential’s servicers and subservicers, and delinquency experience over the past year. New Residential believes this time period provides a reasonable sample for projecting future delinquency rates while taking into account current market conditions. Additional consideration is given to loans that are expected to become 30 or more days delinquent. • Recapture Rates: Recapture rates are based on actual average recapture rates experienced by New Residential’s servicers and subservicers on similar residential mortgage loan pools. Generally, New Residential looks to three • Mortgage Servicing Amount or Excess Mortgage Servicing Amount: For existing mortgage pools, mortgage servicing amount and excess mortgage servicing amount projections are based on the actual total mortgage servicing amount, in excess of a basic fee as applicable. For loans expected to be refinanced by the related servicer or subservicer and subject to a recapture agreement, New Residential considers the mortgage servicing amount or excess mortgage servicing amount on loans recently originated by the related servicer over the past three months and other general market considerations. New Residential believes this time period provides a reasonable sample for projecting future mortgage servicing amounts and excess mortgage servicing amounts while taking into account current market conditions. • Discount Rate: The discount rates used by New Residential are derived from market data on pricing of mortgage servicing rights backed by similar collateral. • Cost of subservicing: The costs of subservicing used by New Residential are based on available market data for various loan types and delinquency statuses. New Residential uses different prepayment and delinquency assumptions in valuing the MSRs and Excess MSRs relating to the original loan pools, the recapture agreements and the MSRs and Excess MSRs relating to recaptured loans. The prepayment rate and delinquency rate assumptions differ because of differences in the collateral characteristics, refinance potential and expected borrower behavior for original loans and loans which have been refinanced. The assumptions for recapture and discount rates when valuing MSRs and Excess MSRs and recapture agreements are based on historical recapture experience and market pricing. Servicer Advance Investments Valuation New Residential uses internal pricing models to estimate the future cash flows related to the Servicer Advance Investments that incorporate significant unobservable inputs and include assumptions that are inherently subjective and imprecise. New Residential’s estimations of future cash flows include the combined cash flows of all of the components that comprise the Servicer Advance Investments: existing advances, the requirement to purchase future advances, the recovery of advances and the right to the basic fee component of the related MSR. The factors that most significantly impact the fair value include (i) the rate at which the servicer advance balance changes over the term of the investment, (ii) the UPB of the underlying loans with respect to which New Residential has the obligation to make advances and owns the basic fee component of the related MSR which, in turn, is driven by prepayment rates and (iii) the percentage of delinquent loans with respect to which New Residential owns the basic fee component of the related MSR. The valuation technique is based on discounted cash flows. Significant inputs used in the valuations included the assumptions used to establish the aforementioned cash flows and discount rates that market participants would use in determining the fair values of Servicer Advance Investments. Significant increases (decreases) in the advance balance-to-UPB ratio, prepayment rate, delinquency rate, or discount rate, in isolation, would result in a significantly lower (higher) fair value measurement. Generally, a change in the delinquency rate assumption is accompanied by a directionally similar change in the assumption used for the advance balance-to-UPB ratio. The following table summarizes certain information regarding the ranges and weighted averages of significant inputs used in valuing the Servicer Advance Investments, including the basic fee component of the related MSRs: Significant Inputs Outstanding Prepayment Rate (A) Delinquency Mortgage Servicing Amount (B) Discount Collateral Weighted Average Maturity (Years) (C) December 31, 2020 1.1% - 1.7% (1.7%) 9.3% - 9.3% (9.3%) 6.9% - 9.1% (9.0%) 17.1 - 19.8 (19.7) bps 5.2% - 5.7% (5.2%) 22.3 December 31, 2019 1.4% 10.6% 15.7% 19.6 bps 5.3% 22.9 (A) Projected annual weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector. (B) Mortgage servicing amount is net of 10.0 bps and 10.1 bps which represent the amounts New Residential paid its servicers as a monthly servicing fee as of December 31, 2020 and 2019, respectively. (C) Weighted average maturity of the underlying residential mortgage loans in the pool. The valuation of the Servicer Advance Investments also takes into account the performance fee paid to the servicer, which in the case of the Buyer is based on its equity returns and therefore is impacted by relevant financing assumptions such as loan-to-value ratio and interest rate as well as advance-to-UPB ratio. All of the assumptions listed have some degree of market observability, based on New Residential’s knowledge of the market, relationships with market participants, and use of common market data sources. The prepayment rate, the delinquency rate and the advance-to-UPB ratio projections are in the form of “curves” or “vectors” that vary over the expected life of the underlying mortgages and related servicer advances. New Residential uses assumptions that generate its best estimate of future cash flows for each Servicer Advance Investment, including the basic fee component of the related MSR. When valuing Servicer Advance Investments, New Residential uses the following criteria to determine the significant inputs: • Servicer advance balance: Servicer advance balance projections are in the form of a “vector” that varies over the expected life of the residential mortgage loan pool. The servicer advance balance projection is based on assumptions that reflect factors such as the borrower’s expected delinquency status, the rate at which delinquent borrowers re-perform or become current again, servicer modification offer and acceptance rates, liquidation timelines and the servicers’ stop advance and clawback policies. • Prepayment Rate: Prepayment rate projections are in the form of a “vector” that varies over the expected life of the pool. The prepayment vector specifies the percentage of the collateral balance that is expected to prepay voluntarily (i.e., pay off) and involuntarily (i.e., default) at each point in the future. The prepayment vector is based on assumptions that reflect macroeconomic conditions and factors such as the borrower’s FICO score, loan-to-value ratio, debt-to-income ratio, and vintage on a loan level basis. New Residential considers collateral-specific prepayment experience when determining this vector. • Delinquency Rates: For existing mortgage pools, delinquency rates are based on the recent pool-specific experience of loans that missed recent mortgage payment(s) as well as loan- and borrower-specific characteristics such as the borrower’s FICO score, the loan-to-value ratio, debt-to-income ratio, occupancy status, loan documentation, payment history and previous loan modifications. New Residential believes the time period utilized provides a reasonable sample for projecting future delinquency rates while taking into account current market conditions. • Mortgage Servicing Amount: Mortgage servicing amounts are contractually determined on a pool-by-pool basis. New Residential projects the weighted average mortgage servicing amount based on its projections for prepayment rates. • LIBOR: The performance-based incentive fees on Mr. Cooper-serviced Servicer Advance Investments portfolios are driven by LIBOR-based factors. The LIBOR curves used are widely used by market participants as reference rates for many financial instruments. • Discount Rate: The discount rates used by New Residential are derived from market data on pricing of mortgage servicing rights backed by similar collateral and the advances made thereon. Real Estate and Other Securities Valuation New Residential’s securities valu

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
VARIABLE INTEREST ENTITIES	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	Variable Interest Entities VIEs are defined as entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. A VIE is required to be consolidated only by its primary beneficiary, which is defined as the party who has the power to direct the activities of a VIE that most significantly impact its economic performance and who has the obligation to absorb losses or the right to receive benefits from the VIE that could be potentially significant to the VIE. To assess whether New Residential has the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance, New Residential considers all the facts and circumstances, including its role in establishing the VIE and its ongoing rights and responsibilities. This assessment includes, first, identifying the activities that most significantly impact the VIE’s economic performance; and second, identifying which party, if any, has power over those activities. To assess whether New Residential has the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, New Residential considers all of its economic interests and applies judgment in determining whether these interests, in the aggregate, are considered potentially significant to the VIE. Servicer Advance Investment New Residential, through a taxable wholly owned subsidiary, is the managing member of the Buyer and owned approximately 73.2% of the Buyer as of December 31, 2020. In 2013, New Residential created the Buyer to acquire the then outstanding servicing advance receivables related to a portfolio of residential mortgage loans from a third party. The Buyer is required to purchase all future servicer advances made with respect to this portfolio of mortgage loans and is entitled to receive cash flows from advance recoveries and a basic fee component of the related MSRs, net of subservicing compensation paid. The Buyer may call capital up to the commitment amount on unfunded commitments and recall capital to the extent the Buyer makes a distribution to the co-investors, including New Residential. As of December 31, 2020, the noncontrolling third-party co-investors and New Residential had previously funded their commitments, however the Buyer may recall $328.4 million and $306.9 million of capital distributed to the third-party co-investors and New Residential, respectively. Neither the third-party co-investors nor New Residential is obligated to fund amounts in excess of their respective capital commitments, regardless of the capital requirements of the Buyer. Shelter Joint Ventures A wholly owned subsidiary of NewRez, Shelter Mortgage Company LLC (“Shelter”) is a mortgage originator specializing in retail originations. Shelter operates its business through a series of joint ventures (“Shelter JVs”) and is deemed to be the primary beneficiary of the joint ventures as a result of its ability to direct activities that most significantly impact the economic performance of the entities and its ownership of a significant equity investment. Residential Mortgage Loans During the first quarter of 2019, New Residential formed entities (the “RPL Borrowers”) that issued securitized debt collateralized by reperforming residential mortgage loans. New Residential determined that the RPL Borrowers should be evaluated for consolidation under the VIE model rather than the voting interest entity model as the equity holders as a group lack the characteristics of a controlling financial interest. Under the VIE model, New Residential’s consolidated subsidiaries had both 1) the power to direct the most significant activities of the RPL Borrowers and 2) significant variable interests in each of the RPL Borrowers, through their control of the related optional redemption feature and their ownership of certain notes issued by the RPL Borrowers and, therefore, met the primary beneficiary criterion and consolidated the RPL Borrowers. On October 1, 2019, as a result of New Residential’s acquisition of servicing assets from Ditech and its pre existing ownership of the equity, New Residential consolidated the MDST Trusts. New Residential’s determination to consolidate the MDST Trusts is a result of its ownership of the equity in these trusts in conjunction with the ability to direct activities that most significantly impact the economic performance of the entities with the acquisition of the servicing by NewRez. During the third quarter of 2020, New Residential formed entities, (collectively, the “NPL/RPL Securitizations”) that separately issued securitized debt collateralized by non-performing and reperforming residential mortgage loans. New Residential determined that the NPL/RPL Securitizations should be evaluated for consolidation under the VIE model rather than the voting interest entity model as the equity holders as a group lack the characteristics of a controlling financial interest. Under the VIE model, New Residential’s consolidated subsidiaries had both 1) the power to direct the most significant activities of the NPL/RPL Securitizations and 2) significant variable interests in each of the NPL/RPL Securitizations, through their control of the related optional redemption feature and their ownership of certain notes issued by the NPL/RPL Securitizations and, therefore, met the primary beneficiary criterion and, accordingly, the Company consolidated the NPL/RPL Securitizations. The following table comprises unconsolidated bonds retained pursuant to required risk retention regulations: As of and for the 2020 2019 Residential mortgage loan UPB $ 14,211,351 $ 19,590,978 Weighted average delinquency (A) 10.06 % 1.25 % Net credit losses $ 76,725 $ 9,354 Face amount of debt held by third parties (B) $ 12,671,168 $ 17,946,939 Carrying value of bonds retained by New Residential (C) (D) $ 1,361,624 $ 1,656,712 Cash flows received by New Residential on these bonds $ 315,939 $ 270,739 (A) Represents the percentage of the UPB that is 60+ days delinquent. (B) Excludes bonds retained by New Residential. (C) Includes bonds retained pursuant to required risk retention regulations. (D) Classified within Level 3 of the fair value hierarchy as the valuation is based on certain unobservable inputs including discount rate, prepayment rates and loss severity. See Note 13 for details on unobservable inputs. Consumer Loan Companies New Residential has a co-investment in a portfolio of consumer loans held through the Consumer Loan Companies. As of December 31, 2020, New Residential owns 53.5% of the limited liability company interests in, and consolidates, the Consumer Loan Companies. The Consumer Loan Companies consolidate certain entities that issued securitization debt collateralized by the consumer loans (the “Consumer Loan SPVs”). The Consumer Loan SPVs are VIEs of which the Consumer Loan Companies are the primary beneficiaries. The table below presents the carrying value and classification of the assets and liabilities of consolidated VIEs on New Residential’s consolidated balance sheets: The Buyer Shelter Joint Ventures Residential Mortgage Loans Consumer Loan SPVs Total December 31, 2020 Assets Servicer advance investments, at fair value $ 522,901 $ — $ — $ — $ 522,901 Residential mortgage loans, held-for-investment, at fair value — — 358,629 — 358,629 Residential mortgage loans, held-for-sale — — 346,250 — 346,250 Residential mortgage loans, held-for-sale, at fair value — — 614,868 — 614,868 Consumer loans, held-for-investment, at fair value — — — 682,932 682,932 Cash and cash equivalents 53,012 39,031 — — 92,043 Restricted cash 2,808 — — 8,090 10,898 Other assets 891 9,151 30,621 9,201 49,864 Total Assets $ 579,612 $ 48,182 $ 1,350,368 $ 700,223 $ 2,678,385 Liabilities Secured notes and bonds payable (A) $ 414,576 $ — $ 1,034,093 $ 628,759 $ 2,077,428 Accrued expenses and other liabilities 1,092 9,455 1,661 764 12,972 Total Liabilities $ 415,668 $ 9,455 $ 1,035,754 $ 629,523 $ 2,090,400 December 31, 2019 Assets Servicer advance investments, at fair value $ 565,271 $ — $ — $ — $ 565,271 Residential mortgage loans, held-for-investment, at fair value — — 913,030 — 913,030 Consumer loans, held-for-investment — — — 818,943 818,943 Cash and cash equivalents 30,065 23,802 — — 53,867 Restricted cash 5,350 — — 9,073 14,423 Other assets 2,414 3,556 4,534 12,409 22,913 Total Assets $ 603,100 $ 27,358 $ 917,564 $ 840,425 $ 2,388,447 Liabilities Secured notes and bonds payable (A) $ 433,300 $ — $ 659,738 $ 820,658 $ 1,913,696 Accrued expenses and other liabilities 1,593 4,187 10,132 4,126 20,038 Total Liabilities $ 434,893 $ 4,187 $ 669,870 $ 824,784 $ 1,933,734 (A) The creditors of the VIEs do not have recourse to the general credit of New Residential, and the assets of the VIEs are not directly available to satisfy New Residential’s obligations. Noncontrolling Interests Noncontrolling interests represent the ownership interests in certain consolidated subsidiaries held by entities or persons other than New Residential. These interests are related to noncontrolling interests in consolidated entities that hold New Residential’s Servicer Advance Investments (Note 7), the Shelter JVs, (Note 9), and Consumer Loans (Note 10). Others’ interests in the equity of New Residential’s consolidated subsidiaries is computed as follows: December 31, 2020 December 31, 2019 The Buyer (A) Shelter Joint Ventures Consumer Loan Companies The Buyer (A) Shelter Joint Ventures Consumer Loan Companies Total consolidated equity $ 163,944 $ 38,727 $ 96,418 $ 168,207 $ 23,171 $ 46,510 Others’ ownership interest 26.8 % 50.1 % 46.5 % 26.8 % 49.0 % 46.5 % Others’ interest in equity of consolidated subsidiary $ 43,882 $ 19,402 $ 45,384 $ 45,025 $ 11,354 $ 22,171 Others’ interests in the New Residential’s net income (loss) is computed as follows: Year Ended December 31, 2020 Year Ended December 31, 2019 Year Ended December 31, 2018 The Buyer (A) Shelter Joint Ventures Consumer Loan Companies The Buyer (A) Shelter Joint Ventures Consumer Loan Companies The Buyer (A) Shelter Joint Ventures Consumer Loan Companies Net income $ 3,326 $ 31,188 $ 77,760 $ 15,892 $ 12,717 $ 69,143 $ 7,209 $ 3,135 $ 79,539 Others’ ownership interest as a percent of total 26.8 % 50.1 % 46.5 % 26.8 % 49.0 % 46.5 % 27.4 % 51.0 % 46.5 % Others’ interest in net income of consolidated subsidiaries $ 891 $ 15,625 $ 36,158 $ 4,255 $ 6,231 $ 32,151 $ 1,978 $ 1,599 $ 36,987 (A) As a result, New Residential owned 73.2%, 73.2% and 72.6% of the Buyer, on average during the years ended December 31, 2020, 2019 and 2018, respectively. See Note 12 regarding the financing of Servicer Advance Investments.

EQUITY AND EARNINGS PER SHARE

EQUITY AND EARNINGS PER SHARE	12 Months Ended
EQUITY AND EARNINGS PER SHARE	Dec. 31, 2020
Earnings Per Share [Abstract]
EQUITY AND EARNINGS PER SHARE	EQUITY AND EARNINGS PER SHARE Equity and Dividends New Residential’s certificate of incorporation authorizes 2,000,000,000 shares of common stock, par value $0.01 per share, and 100,000,000 shares of preferred stock, par value $0.01 per share. On February 14, 2020, in a public offering, New Residential issued 16.1 million of its 6.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Preferred Series C”), par value $0.01 per share, with a liquidation preference of $25.00 per share for net proceeds of approximately $389.5 million. To compensate the Manager for its successful efforts in raising capital for New Residential, in connection with this offering, New Residential granted options to the Manager relating to 1.6 million shares of New Residential’s common stock at the closing price per share of common stock on the pricing date, which had a fair value of approximately $1.0 million as of the grant date. The assumptions used in valuing the options were: a 1.55% risk-free rate, a 9.00% dividend yield, 17.39% volatility and a 10-year term. On August 15, 2019, in a public offering, New Residential issued 11.3 million shares of its 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Preferred Series B”), par value $0.01 per share, with a liquidation preference of $25.00 per share for net proceeds of approximately $273.4 million. To compensate the Manager for its successful efforts in raising capital for New Residential, in connection with this offering, New Residential granted options to the Manager relating to 1.1 million shares of New Residential’s common stock at the closing price per share of common stock on the pricing date, which had a fair value of approximately $0.7 million as of the grant date. The assumptions used in valuing the options were: a 1.56% risk-free rate, a 11.20% dividend yield, 18.23% volatility and a 10-year term. On July 2, 2019, in a public offering, New Residential issued 6.2 million shares of its 7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (“Preferred Series A”), par value $0.01 per share, with a liquidation preference of $25.00 per share for net proceeds of approximately $150.0 million. To compensate the Manager for its successful efforts in raising capital for New Residential, in connection with this offering, New Residential granted options to the Manager relating to 0.6 million shares of New Residential’s common stock at the closing price per share of common stock on the pricing date, which had a fair value of approximately $0.5 million as of the grant date. The assumptions used in valuing the options were: a 1.91% risk-free rate, a 9.73% dividend yield, 17.95% volatility and a 10-year term. In February 2019, New Residential issued 46.0 million shares of its common stock in a public offering at a price to the public of $16.50 per share for net proceeds of approximately $751.7 million. To compensate the Manager for its successful efforts in raising capital for New Residential, in connection with this offering, New Residential granted options to the Manager relating to 4.6 million shares of New Residential’s common stock at the public offering price, which had a fair value of approximately $3.8 million as of the grant date. The assumptions used in valuing the options were: a 2.40% risk-free rate, a 9.30% dividend yield, 19.26% volatility and a 10-year term. On July 30, 2018, New Residential entered into a Distribution Agreement to sell shares of its common stock, par value $0.01 per share (the “ATM Shares”), having an aggregate offering price of up to $500.0 million, from time to time, through an “at-the-market” equity offering program (the “ATM Program”). During the year ended December 31, 2018, New Residential sold 0.5 million ATM Shares for aggregate proceeds of $9.1 million. In connection with the shares sold under the ATM program, New Residential granted options to the Manager relating to 0.05 million shares of New Residential’s common stock at the offering prices, which had fair value of approximately $0.1 million as of the grant dates. On August 1, 2019, the Distribution Agreement was amended to, among other things, (i) add additional sales agents under the ATM Program, and (ii) restore the aggregate offering price under the ATM Program to the original amount of $500.0 million. In January 2018, New Residential issued 28.8 million shares of its common stock in a public offering at a price to the public of $17.10 per share for net proceeds of approximately $482.3 million. To compensate the Manager for its successful efforts in raising capital for New Residential, in connection with this offering, New Residential granted options to the Manager relating to 2.9 million shares of New Residential’s common stock at the public offering price, which had a fair value of approximately $3.8 million as of the grant date. The assumptions used in valuing the options were: a 2.58% risk-free rate, a 9.86% dividend yield, 23.16% volatility and a 10-year term. The following table summarizes the Company’s ATM Program activity: Quarter Ended Number of Common shares Average price per share Gross Proceeds Fees Net Proceeds March 31, 2020 (A) 97,394 $ — $ 1,662 $ — $ 1,649 June 30, 2020 — — — — — September 30, 2020 — — — — — December 31, 2020 — — — — — (A) In connection with the shares sold under the ATM program, New Residential granted options to the Manager relating to 0.01 million shares of New Residential’s common stock at the offering price, which had fair value of approximately $0.2 million as of the grant date. In November 2018, New Residential issued 28.8 million shares of its common stock in a public offering at a price to the public of $17.32 per share for net proceeds of approximately $489.2 million. To compensate the Manager for its successful efforts in raising capital for New Residential, in connection with this offering, New Residential granted options to the Manager relating to 2.9 million shares of New Residential’s common stock at the public offering price, which had a fair value of approximately $3.8 million as of the grant date. The assumptions used in valuing the options were: a 3.25% risk-free rate, a 8.61% dividend yield, 17.50% volatility and a 10-year term. The table below summarizes Preferred Shares: Number of Shares Liquidation Preference (A) Dividends Declared per Share December 31, Year Ended December 31, Series 2020 2019 2020 2019 Issuance Discount Carrying Value 2020 2019 2018 Fixed-to-floating rate cumulative redeemable preferred: Series A, 7.50% issued July 2019 6,210 6,210 $ 155,250 $ 155,250 3.15 % $ 150,026 $ 1.88 $ 1.16 $ — Series B, 7.125% issued August 2019 11,300 11,300 282,500 282,500 3.15 % 273,418 1.78 0.89 — Series C, 6.375% issued February 2020 16,100 — 402,500 — 3.15 % 389,548 1.60 — — Total 33,610 17,510 $ 840,250 $ 437,750 $ 812,992 $ 5.26 $ 2.05 $ — (A) Each series has a liquidation preference of $25.00 per share. On December 16, 2020, New Residential’s board of directors declared fourth quarter 2020 preferred dividends of $0.47 per share of Preferred Series A, $0.45 per share of Preferred Series B, and $0.40 per share of Preferred Series C or $2.91 million, $5.03 million, and $6.41 million, respectively. Common dividends have been declared as follows: Per Share Declaration Date Payment Date Quarterly Dividend Total Amounts Distributed (millions) March 22, 2018 April 2018 0.50 168.1 June 21, 2018 July 2018 0.50 169.9 September 20, 2018 October 2018 0.50 170.2 December 20, 2018 January 2019 0.50 184.6 March 25, 2019 April 2019 0.50 207.7 June 18, 2019 July 2019 0.50 207.8 September 23, 2019 October 2019 0.50 207.8 December 16, 2019 January 2020 0.50 207.8 March 31, 2020 April 2020 0.05 20.8 June 22, 2020 July 2020 0.10 41.6 September 23, 2020 October 2020 0.15 62.4 December 16, 2020 January 2021 0.20 82.9 Approximately 2.4 million shares of New Residential’s common stock were held by Fortress, through its affiliates, and its principals at December 31, 2020. On August 20, 2019, New Residential announced that its board of directors had authorized the repurchase of up to $200.0 million of its common stock through December 31, 2020. Repurchases may be made from time to time through open market purchases or privately negotiated transactions, pursuant to one or more plans established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934 or by means of one or more tender offers, in each case, as permitted by securities laws and other legal requirements. The amount and timing of the purchases will depend on a number of factors including the price and availability of New Residential’s shares, trading volume, capital availability, New Residential’s performance and general economic and market conditions. The share repurchase program may be suspended or discontinued at any time. No share repurchases were made for the year ended December 31, 2019. The Company repurchased 1.0 million shares at an aggregate price of $7.4 million for the year ended December 31, 2020. On November 2, 2020, New Residential announced that its board of directors had authorized the repurchase of up to $100.0 million of its preferred stock, which includes its 7.500% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock and 6.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, through December 31, 2021. Repurchases may be made from time to time through open market purchases or privately negotiated transactions, pursuant to one or more plans established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934 or by means of one or more tender offers, in each case, as permitted by securities laws and other legal requirements. The amount and timing of the purchases will depend on a number of factors including the price and availability of New Residential’s shares, trading volume, capital availability, New Residential’s performance and general economic and market conditions. The share repurchase program may be suspended or discontinued at any time. No share repurchases were made for the year ended December 31, 2020. Common Stock Purchase Warrants As discussed in Note 11, Debt Obligations, on May 19, 2020 and May 27, 2020 (collectively, the “Issuance Date”), in conjunction with the 2020 Term Loan, the Company issued the 2020 Warrants providing the lenders with the right to acquire, subject to anti-dilution adjustments, up to 43.4 million shares of the Company’s common stock in the aggregate. The 2020 Warrants are exercisable in cash or on a cashless basis and expire on May 19, 2023 and are exercisable, in whole or in part, at any time or from time to time after September 19, 2020 at the following prices: approximately 24.6 million shares of common stock at $6.11 per share and approximately 18.9 million shares of common stock at $7.94 per share. The Company recorded the value of the 2020 Term Loan and 2020 Warrants on a relative fair value basis. The 2020 Warrants were valued using a Black-Scholes option valuation model that resulted in a fair value of approximately $53.5 million on the Issuance Date and is not subject to subsequent remeasurement. The Company used the following assumptions in the application of the Black-Scholes option valuation model: an exercise price ranging between $6.11 and $7.94, a term of 3.0 years, a risk-free interest rate of 0.24%, and volatility of 35%. The 2020 Warrants met the definition of derivatives under the guidance in ASC Topic 815, Derivatives and Hedging ; however, because these instruments are determined to be indexed to the Company’s own stock and met the criteria for equity classification under ASC Topic 815, the 2020 Warrants are accounted for as an equity transaction and recorded in Additional paid-in-capital. The 2020 Warrants have a dilutive effect on net income per share to the extent that the market value per share of the Company’s common stock at the time of exercise exceeds the strike price of the 2020 Warrants. The table below summarizes the 2020 Warrants: Number of Warrants Weighted Average Exercise Price December 31, 2019 outstanding warrants — $ — Granted 43.4 6.79 (A) Exercised — — Expired — — December 31, 2020 outstanding warrants 43.4 $ 6.79 (A) Reflects a reduction in weighted average exercise price due to anti-dilution adjustments effective for dividends in excess of $0.10 a share. Option Plan New Residential has a Nonqualified Stock Option and Incentive Award Plan, as amended (the “Plan”) which provides for the grant of equity-based awards, including restricted stock, options, stock appreciation rights, performance awards, tandem awards and other equity-based and non-equity based awards, in each case to the Manager, and to the directors, officers, employees, service providers, consultants and advisor of the Manager who perform services for New Residential, and to New Residential’s directors, officers, service providers, consultants and advisors. New Residential initially reserved 15,000,000 shares of its common stock for issuance under the Plan; on the first day of each fiscal year beginning during the 10-year term of the Plan in and after calendar year 2014, that number will be increased by a number of shares of New Residential’s common stock equal to 10% of the number of shares of common stock newly issued by New Residential during the immediately preceding fiscal year (and, in the case of fiscal year 2013, after the effective date of the Plan). No adjustment was made on January 1, 2014. Increases of 9,739, 4,600,000 and 5,799,166 were made on January 1, 2021, 2020 and 2019, respectively. New Residential’s board of directors may also determine to issue options to the Manager that are not subject to the Plan, provided that the number of shares underlying any options granted to the Manager in connection with capital raising efforts would not exceed 10% of the shares sold in such offering and would be subject to NYSE rules. Upon exercise, all options will be settled in an amount of cash equal to the excess of the fair market value of a share of common stock on the date of exercise over the exercise price per share unless advance approval is made to settle options in shares of common stock. Upon joining the board, non-employee directors were, in accordance with the Plan, granted options relating to an aggregate of 7,000 shares of common stock. The fair value of such options was not material at the date of grant. New Residential’s outstanding options were summarized as follows: December 31, 2020 2019 Held by the Manager 11,991,622 10,511,167 Issued to the Manager and subsequently assigned to certain of the Manager’s employees 2,430,033 2,290,749 Issued to the independent directors 7,000 7,000 Total 14,428,655 12,808,916 The following table summarizes New Residential’s outstanding options as of December 31, 2020. The last sales price on the New York Stock Exchange for New Residential’s common stock in the year ended December 31, 2020 was $9.94 per share. Recipient Date of Grant/ Exercise (A) Number of Unexercised Options Options Weighted Average Exercise Price (B) Intrinsic Value of Exercisable Options as of December 31, 2020 Directors Various 7,000 7,000 $ 13.57 $ — Manager (C) 2017 1,130,916 1,130,916 13.95 — Manager (C) 2018 5,320,000 4,735,167 16.67 — Manager (C) 2019 6,351,000 4,327,900 16.13 — Manager (C) 2020 1,619,739 539,913 17.41 — Outstanding 14,428,655 10,740,896 (A) Options expire on the tenth anniversary from date of grant. (B) The exercise prices are subject to adjustment in connection with return of capital dividends. A portion of New Residential’s 2018 dividends was deemed to be a return of capital and the exercise prices were adjusted accordingly. (C) The Manager assigned certain of its options to its employees as follows: Date of Grant to Manager Range of Exercise Prices Total Unexercised 2018 $16.55 to $18.02 1,159,833 2019 $15.14 to $16.68 1,270,200 Total 2,430,033 The following table summarizes activity in New Residential’s outstanding options: Amount Weighted Average Exercise Price December 31, 2018 outstanding options 8,498,138 Options granted 6,352,000 $ 16.20 Options exercised (2,041,222) $ 13.88 Options expired unexercised — December 31, 2019 outstanding options 12,808,916 Options granted 1,619,739 $ 17.41 Options exercised — $ — Options expired unexercised — December 31, 2020 outstanding options 14,428,655 See table above Income and Earnings Per Share New Residential is required to present both basic and diluted earnings per share (“EPS”). Basic EPS is calculated by dividing net income by the weighted average number of shares of common stock outstanding. Diluted EPS is computed by dividing net income by the weighted average number of shares of common stock outstanding plus the additional dilutive effect, if any, of common stock equivalents during each period. The following table summarizes the basic and diluted earnings per share calculations: Year Ended December 31, 2020 2019 2018 Net income (loss) $ (1,357,684) $ 605,933 $ 1,004,531 Noncontrolling interests in income of consolidated subsidiaries 52,674 42,637 40,564 Dividends on preferred stock 54,295 13,281 — Net income (loss) attributable to common stockholders $ (1,464,653) $ 550,015 $ 963,967 Basic weighted average shares of common stock outstanding 415,513,187 408,789,642 341,268,923 Dilutive effect of stock options (A) — 200,465 1,868,438 Dilutive effect of common stock purchase warrants (A) — — — Diluted weighted average shares of common stock outstanding 415,513,187 408,990,107 343,137,361 Basic earnings per share attributable to common stockholders $ (3.52) $ 1.35 $ 2.82 Diluted earnings per share attributable to common stockholders $ (3.52) $ 1.34 $ 2.81 (A) Stock options and common stock purchase warrants that could potentially dilute basic earnings per share in the future were not included in the computation of diluted earnings per share for the periods where a loss has been recorded because they would have been anti-dilutive for the period presented. The Company excluded the following weighted-average potential common shares from the calculation of diluted net income (loss) per share during the applicable periods because their inclusion would have been anti-dilutive: Year Ended December 31, 2020 2019 2018 Stock options $ — $ — $ — Common stock purchase warrants 7,328,961 — — Noncontrolling Interests Noncontrolling interests is comprised of the interests held by third parties in consolidated entities that hold New Residential’s Servicer Advance Investments (Note 7), Shelter JVs (Note 9) and Consumer Loans (Note 10).

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation – New Residential is or may become, from time to time, involved in various disputes, litigation and regulatory inquiry and investigation matters that arise in the ordinary course of business. Given the inherent unpredictability of these types of proceedings, it is possible that future adverse outcomes could have a material adverse effect on its business, financial position or results of operations. New Residential is not aware of any unasserted claims that it believes are material and probable of assertion where the risk of loss is expected to be reasonably possible. New Residential is, from time to time, subject to inquiries by government entities. New Residential currently does not believe any of these inquiries would result in a material adverse effect on New Residential’s business. Indemnifications – In the normal course of business, New Residential and its subsidiaries enter into contracts that contain a variety of representations and warranties and that provide general indemnifications. New Residential’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against New Residential that have not yet occurred. However, based on its experience, New Residential expects the risk of material loss to be remote. Capital Commitments — As of December 31, 2020, New Residential had outstanding capital commitments related to investments in the following investment types (also refer to Note 6 for MSR investment commitments and to Note 20 for additional capital commitments entered into subsequent to December 31, 2020, if any): MSRs and Servicer Advance Investments — New Residential and, in some cases, third-party co-investors agreed to purchase future servicer advances related to certain Non-Agency mortgage loans. In addition, New Residential’s subsidiaries, NRM and NewRez, are generally obligated to fund future servicer advances related to the loans it is obligated to service. The actual amount of future advances purchased will be based on: (a) the credit and prepayment performance of the underlying loans, (b) the amount of advances recoverable prior to liquidation of the related collateral and (c) the percentage of the loans with respect to which no additional advance obligations are made. The actual amount of future advances is subject to significant uncertainty. See Notes 6 and 7 for information on New Residential’s MSRs and Servicer Advance Investments, respectively. Mortgage Origination Reserves — NewRez, a wholly owned subsidiary of New Residential, originates conventional, government-insured and nonconforming residential mortgage loans for sale and securitization. The GSEs or Ginnie Mae guarantee conventional and government-insured mortgage securitizations and mortgage investors issue nonconforming private label mortgage securitizations while NewRez generally retains the right to service the underlying residential mortgage loans. In connection with the transfer of loans to the GSEs or mortgage investors, NewRez makes representations and warranties regarding certain attributes of the loans and, subsequent to the sale, if it is determined that a sold loan is in breach of these representations and warranties, NewRez generally has an obligation to cure the breach. If NewRez is unable to cure the breach, the purchaser may require NewRez to repurchase the loan. In addition, as the issuer of Ginnie Mae guaranteed securitizations, NewRez holds the right to repurchase loans that are at least 90 days’ delinquent from the securitizations at its discretion. Loans in forbearance that are three or more consecutive payments delinquent are included as delinquent loans permitted to be repurchased. While NewRez is not obligated to repurchase the delinquent loans, NewRez generally exercises its option to repurchase loans that will result in an economic benefit. As of December 31, 2020, New Residential’s estimated liability associated with representations and warranties and Ginnie Mae repurchases was $9.8 million and $1.5 billion, respectively. See Notes 6 and 9 for information on New Residential’s Ginnie Mae Buy-Back Option and mortgage origination, respectively. Mortgage Origination Unfunded Commitments — As of December 31, 2020, NewRez was committed to fund approximately $15.0 billion of mortgage loans and had no forward loan sale commitments. Residential Mortgage Loans — As part of its investment in residential mortgage loans, New Residential may be required to outlay capital. These capital outflows primarily consist of advance escrow and tax payments, residential maintenance and property disposition fees. The actual amount of these outflows is subject to significant uncertainty. See Note 9 for information on New Residential’s residential mortgage loans. Consumer Loans — The Consumer Loan Companies have invested in loans with an aggregate of $23.2 million of unfunded and available revolving credit privileges as of December 31, 2020. However, under the terms of these loans, requests for draws may be denied and unfunded availability may be terminated at New Residential’s discretion. Leases — New Residential, through its wholly-owned subsidiary, Shellpoint, has leases on office space expiring through 2025. Rent expense, net of sublease income for the year ended December 31, 2020, 2019 and 2018 totaled $13.4 million, $10.3 million and $4.8 million, respectively. The Company has leases that include renewal options and escalation clauses. The terms of the leases do not impose any financial restrictions or covenants. As of December 31, 2020, future commitments under the non-cancelable leases are as follows: Year Ending Amount 2021 $ 13,439 2022 10,118 2023 5,887 2024 2,770 2025 2,146 2026 and thereafter — Total remaining undiscounted lease payments 34,360 Less: imputed interest 3,090 Total remaining discounted lease payments $ 31,270 The future commitments under the non-cancelable leases have not been reduced by the sublease rentals of $1.1 million due in the future periods. Other information related to operating leases is summarized below: December 31, 2020 2019 Weighted-average remaining lease term (years) 3.2 3.9 Weighted-average discount rate 4.5 % 4.5 % Environmental Costs — As a residential real estate owner, New Residential is subject to potential environmental costs. At December 31, 2020, New Residential is not aware of any environmental concerns that would have a material adverse effect on its consolidated financial position or results of operations. Debt Covenants — Certain of the Company’s debt obligations are subject to loan covenants and event of default provisions, including event of default provisions triggered by certain specified declines in New Residential’s equity or a failure to maintain a specified tangible net worth, liquidity, or indebtedness to tangible net worth ratio. Refer to Note 12. Certain Tax-Related Covenants — If New Residential is treated as a successor to Drive Shack Inc. (“Drive Shack”) under applicable U.S. federal income tax rules, and if Drive Shack failed to qualify as a REIT for a taxable year ending on or before December 31, 2014, New Residential could be prohibited from electing to be a REIT. Accordingly, in the separation and distribution agreement executed in connection with New Residential’s spin-off from Drive Shack, Drive Shack (i) represented that it had no knowledge of any fact or circumstance that would cause New Residential to fail to qualify as a REIT, (ii) covenanted to use commercially reasonable efforts to cooperate with New Residential as necessary to enable New Residential to qualify for taxation as a REIT and receive customary legal opinions concerning REIT status, including providing information and representations to New Residential and its tax counsel with respect to the composition of Drive Shack’s income and assets, the composition of its stockholders, and its operation as a REIT; and (iii) covenanted to use its reasonable best efforts to maintain its REIT status for each of Drive Shack’s taxable years ending on or before December 31, 2014 (unless Drive Shack obtains an opinion from a nationally recognized tax counsel or a private letter ruling from the U.S. Internal Revenue Service (“IRS”) to the effect that Drive Shack’s failure to maintain its REIT status will not cause New Residential to fail to qualify as a REIT under the successor REIT rule referred to above). Additionally, New Residential covenanted to use its reasonable best efforts to qualify for taxation as a REIT for its taxable year ended December 31, 2013.

TRANSACTIONS WITH AFFILIATES AN

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES	12 Months Ended
TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES	Dec. 31, 2020
Related Party Transactions [Abstract]
TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES	TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIESNew Residential is party to a Management Agreement with its Manager which provides for automatically renewing one Manager the right of the Manager to receive the Incentive Compensation. In exchange therefor, New Residential would be obligated to pay the Manager a cash purchase price equal to the amount of the Incentive Compensation that would be paid to the Manager if all of New Residential’s assets were sold for cash at their then current fair market value (taking into account, among other things, expected future performance of the underlying investments). Pursuant to the Management Agreement, the Manager, under the supervision of New Residential’s board of directors, formulates investment strategies, arranges for the acquisition of assets and associated financing, monitors the performance of New Residential’s assets and provides certain advisory, administrative and managerial services in connection with the operations of New Residential. The Manager is entitled to receive a management fee in an amount equal to 1.5% per annum of New Residential’s gross equity calculated and payable monthly in arrears in cash. Gross equity is generally (i) the equity transferred by Drive Shack, formerly Newcastle Investment Corp., which was the sole stockholder of New Residential until the spin-off of New Residential completed on May 15, 2013, on the date of the spin-off (ii) plus total net proceeds from preferred and common stock offerings, plus certain capital contributions to subsidiaries, less capital distributions and repurchases of common stock. In addition, the Manager is entitled to receive annual incentive compensation in an amount equal to the product of (A) 25% of the dollar amount by which (1) (a) New Residential’s funds from operations before the incentive compensation, excluding funds from operations from the Consumer Loan Companies and any unrealized gains or losses from mark-to-market valuation changes on investments and debt (and any deferred tax impact thereof), per share of common stock, plus (b) earnings (or losses) from the Consumer Loan Companies computed on a level-yield basis (such that the loans are treated as if they qualified as loans acquired with a discount for credit quality as set forth in ASC No. 310-30, as such codification was in effect on June 30, 2013) as if the Consumer Loan Companies had been acquired at their GAAP basis on May 15, 2013, plus earnings (or losses) from equity method investees invested in Excess MSRs as if such equity method investees had not made a fair value election, plus gains (or losses) from debt restructuring and gains (or losses) from sales of property, and plus non-routine items, minus amortization of non-routine items, in each case per share of common stock, exceed (2) an amount equal to (a) the weighted average of the book value per share of the equity transferred by Drive Shack on the date of the spin-off and the prices per share of New Residential’s common stock in any offerings (adjusted for prior capital dividends or capital distributions) multiplied by (b) a simple interest rate of 10% per annum, multiplied by (B) the weighted average number of shares of common stock outstanding. “Funds from operations” means net income (computed in accordance with GAAP), excluding gains (or losses) from debt restructuring and gains (or losses) from sales of property, plus depreciation on real estate assets, and after adjustments for unconsolidated partnerships and joint ventures. Funds from operations will be computed on an unconsolidated basis. The computation of funds from operations may be adjusted at the direction of New Residential’s independent directors based on changes in, or certain applications of, GAAP. Funds from operations is determined from the date of the spin-off and without regard to Drive Shack’s prior performance. In addition to the management fee and incentive compensation, New Residential is responsible for reimbursing the Manager for certain expenses paid by the Manager on behalf of New Residential. In March 2020, the Company and certain of its subsidiaries sold (collectively, the “Sale”) through a broker-dealer to six purchasers (collectively, “the Purchasers”) of a portfolio consisting of non-agency residential mortgage-backed securities with an aggregate face value of approximately $6.1 billion (the “Securities”). The Sale generated proceeds of approximately $3.3 billion in the aggregate, excluding any unpaid but accrued interest. The Purchasers included an entity affiliated with funds managed by an affiliate of the Manager (the “Fortress Purchaser”), which purchased approximately $1.85 billion of Securities in aggregate face value for approximately $1.0 billion. In connection with the sale of the Securities to the Fortress Purchaser, the Company agreed to exercise certain rights, including call rights, that the Company holds under the securitization transactions with respect to the Securities sold to the Fortress Purchaser solely upon written direction by the Fortress Purchaser. Such rights include the rights, if any, to (i) amend and/or terminate the transactions contemplated by certain related residential mortgage servicing agreements, securitization trust agreements, pooling and servicing agreements or other agreements, (ii) acquire certain of the related residential mortgage loans, real estate owned and certain other assets in the trust subject to such residential mortgage servicing agreements, securitization trust agreements, pooling and servicing agreements or other agreements in connection with such amendment or termination against delivery of the applicable termination payment, and (iii) if applicable, direct certain related servicers, holders of subordinate securities and/or other applicable parties, to exercise the rights in (i) and (ii). Pursuant to such agreement, the Company and the Fortress Purchaser would share equally in any profits or losses arising from the exercise of any such rights, other than if the Company elects not to participate in the related transaction, in which case the Fortress Purchaser would realize all of the profits and bear all of the losses with respect thereto. On May 19, 2020, the Company entered into a three Due to affiliates is composed of the following amounts: December 31, 2020 2019 Management fees $ 7,478 $ 7,076 Incentive compensation — 91,892 Expense reimbursements and other 1,972 4,914 Total $ 9,450 $ 103,882 Affiliate expenses and fees were comprised of: Year Ended December 31, 2020 2019 2018 Management fees $ 89,134 $ 79,472 $ 62,594 Incentive compensation — 91,892 94,900 Expense reimbursements (A) 500 500 500 Total $ 89,634 $ 171,864 $ 157,994 (A) Included in General and Administrative Expenses in the Consolidated Statements of Income. See Note 5 regarding co-investments with Fortress-managed funds. See Note 15 regarding options granted to the Manager.

RECLASSIFICATION FROM ACCUMULAT

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME	RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME The following table summarizes the amounts reclassified out of accumulated other comprehensive income into net income: Accumulated Other Comprehensive Income Components Statement of Income Location Year Ended December 31, 2020 2019 2018 Reclassification of net realized (gain) loss on securities into earnings Gain (loss) on settlement of investments, net $ (753,713) $ (205,989) $ 29,936 Reclassification of net realized (gain) loss on securities into earnings Other-than-temporary impairment on securities 13,404 25,174 30,017 Total reclassifications $ (740,309) $ (180,815) $ 59,953 New Residential allocated $1.5 million of income tax expense to other comprehensive income for the year ended December 31, 2020.

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Income tax (benefit) expense consists of the following: Year Ended December 31, 2020 2019 2018 Current: Federal $ (2,197) $ 148 $ 6,146 State and Local 4,084 3,411 477 Total Current Income Tax Expense (Benefit) 1,887 3,559 6,623 Deferred: Federal 17,516 28,939 (68,907) State and Local (2,487) 9,268 (11,147) Total Deferred Income Tax Expense (Benefit) 15,029 38,207 (80,054) Total Income Tax (Benefit) Expense $ 16,916 $ 41,766 $ (73,431) New Residential intends to qualify as a REIT for each of its tax years through December 31, 2020. A REIT is generally not subject to U.S. federal corporate income tax on that portion of its income that is distributed to stockholders if it distributes at least 90% of its REIT taxable income to its stockholders by prescribed dates and complies with various other requirements. New Residential operates various business segments, including servicing, origination, and MSR related investments, through taxable REIT subsidiaries (“TRSs”) that are subject to regular corporate income taxes, which have been provided for in the provision for income taxes, as applicable. Refer to Note 4 (Segment Reporting) for further details. The decrease in income tax expense for the year ended December 31, 2020 is primarily driven by deferred tax benefits resulting from changes in the fair value of loans and MSRs during the first quarter of 2020, offset by deferred and current tax expense generated from income in the servicing and origination business segments. On March 27, 2020, the CARES Act was signed into law. The CARES Act provides economic relief to eligible businesses and individuals impacted by the COVID-19 pandemic and includes numerous tax provisions, such as the ability to carryback net operating losses to prior tax years. Pursuant to this new legislation, the Company filed a claim to carryback $23 million of net operating losses, resulting in a net tax benefit of $3 million. The Company is continuing to monitor and evaluate the impact of the CARES Act and other COVID-19-related legislation. The increase in income tax expense for the year ended December 31, 2019 is primarily due to deferred tax expense generated by MSR income and loan origination income attributable to New Residential TRSs. The difference between New Residential’s reported provision for income taxes and the U.S. federal statutory rate of 21% is as follows: December 31, 2020 2019 2018 Provision at the statutory rate 21.00 % 21.00 % 21.00 % Non-taxable REIT income (26.30) % (16.26) % (25.44) % State and local taxes 3.70 % 2.36 % (1.19) % Change in valuation allowance — % — % (2.31) % Change in federal tax rate — % — % — % Other 0.43 % 0.66 % (0.30) % Total provision (1.17) % 7.76 % (8.24) % The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liability are presented below: December 31, 2020 2019 Deferred tax assets: Net operating losses and tax credit carryforwards (A) $ 5,636 $ 79,897 Basis Differences related to assets and investments 18,868 16,279 Unrealized mark to market 75 10,084 Other 630 1,194 Total deferred tax assets 25,209 107,454 Less valuation allowance — — Net deferred tax assets $ 25,209 $ 107,454 Deferred tax liabilities: Mortgage servicing rights $ (16,189) $ (65,582) Basis Differences related to assets and investments (12,539) (29,022) Fixed asset depreciation (1,231) (4,181) Other (3,109) — Total deferred tax (liability) $ (33,068) $ (98,785) Net deferred tax assets (liability) $ (7,859) $ 8,669 (A) As of December 31, 2020, New Residential’s TRSs had approximately $15.0 million of net operating loss carryforwards for federal and state income tax purposes which may be available to offset future taxable income, if and when it arises. Approximately, $13.8 million of these federal and state net operating loss carryforwards will begin to expire in 2034. The utilization of the net operating loss carryforwards to reduce future income taxes will depend on the TRSs ability to generate sufficient taxable income prior to the expiration of the carryforward period. In assessing the realizability of deferred tax assets, New Residential considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible. As of December 31, 2020, the Company believes it is more likely than not that it will fully realize its deferred tax assets. New Residential and its TRSs file income tax returns with the U.S. federal government and various state and local jurisdictions. Generally, New Residential is no longer subject to tax examinations by tax authorities for tax years ended prior to December 31, 2017. New Residential recognizes tax benefits for uncertain tax positions only if it is more likely than not that the position is sustainable based on its technical merits. Interest and penalties on uncertain tax positions are included as a component of the provision for income taxes on the consolidated statements of operations. As of December 31, 2020, New Residential has no material uncertainties to be recognized. New Residential does not believe that it is reasonably possible that the total amount of unrecognized tax benefits will significantly change within 12 months of the reporting date. Common stock distributions were taxable as follows: Year Dividends Ordinary Long-term Return 2020 (A) $ 0.62 78.01 % — % 21.99 % 2019 (B) 1.87 77.53 % 15.82 % 6.65 % 2018 (C) 1.60 78.03 % 1.03 % 20.94 % (A) The entire $0.20 per share dividend declared in December 2020 and paid in January 2021 is treated as received by stockholders in 2021. (B) The entire $0.50 per share dividend declared in December 2019 and paid in January 2020 is treated as received by stockholders in 2020. (C) The entire $0.50 per share dividend declared in December 2018 and paid in January 2019 is treated as received by stockholders in 2019. Series A Preferred stock distributions were as follows: Year Dividends Ordinary Long-term Return 2020 (A) $ 1.88 100 % — % — % 2019 $ 0.69 84.18 % 15.82 % — % (A) The entire $0.47 per share dividend declared in December 2020 and paid in January 2021 is treated as received by stockholders in 2021. Series B Preferred stock distributions were as follows: Year Dividends Ordinary Long-term Return 2020 (A) $ 1.78 100 % — % — 2019 $ 0.45 84.18 % 15.82 % — %

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS These financial statements include a discussion of material events that have occurred subsequent to December 31, 2020 (referred to as “subsequent events”) through the issuance of these consolidated financial statements. Events subsequent to that date have not been considered in these financial statements. Corporate Activities On December 16, 2020, New Residential’s board of directors declared a fourth quarter 2020 dividend of $0.20 per common share or $82.9 million, which was paid on January 29, 2021 to stockholders of record as of December 31, 2020. On February 8, 2021, New Residential’s board of directors authorized the repurchase of up to $200.0 million of its common stock through December 31, 2021. Repurchases may be made from time to time through open market purchases or privately negotiated transactions, pursuant to one or more plans established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934 or by means of one or more tender offers, in each case, as permitted by securities laws and other legal requirements. The amount and timing of the purchases will depend on a number of factors including the price and availability of New Residential’s shares, trading volume, capital availability, New Residential’s performance and general economic and market conditions. No share repurchases have been made as of the date of issuance of these consolidated financial statements. The share repurchase program may be suspended or discontinued at any time.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Accounting	The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP’’ or “US GAAP”). The consolidated financial statements include the accounts of New Residential and its consolidated subsidiaries. All significant intercompany transactions and balances have been eliminated.
Consolidation, Variable Interest Entities	New Residential consolidates those entities in which it has control over significant operating, financial and investing decisions of the entity, as well as those entities deemed to be variable interest entities (“VIEs”) in which New Residential is determined to be the primary beneficiary. For entities over which New Residential exercises significant influence, but which do not meet the requirements for consolidation, New Residential uses the equity method of accounting whereby it records its share of the underlying income of such entities. Distributions from equity method investees are classified in the Statements of Cash Flows based on the cumulative earnings approach, where all distributions up to cumulative earnings are classified as distributions of earnings.
Reclassifications	Beginning in the second quarter of 2020, the Company changed its presentation of certain balance sheet and income statement line items to better reflect changes in the business and how the Company is viewed and managed. As a result, the presentation of certain prior period amounts have been reclassified to be consistent with the current period presentation. Such reclassifications had no impact on net income, total assets, total liabilities, or stockholders’ equity.
Risks and Uncertainties	In the normal course of business, New Residential encounters primarily two significant types of economic risk: credit and market. Credit risk is the risk of default on New Residential’s investments that results from a borrower’s or counterparty’s inability or unwillingness to make contractually required payments. Market risk reflects changes in the value of investments due to changes in prepayment rates, interest rates, spreads or other market factors, including risks that impact the value of the collateral underlying New Residential’s investments. New Residential believes that the carrying values of its investments are reasonable taking into consideration these risks along with estimated prepayments, financings, collateral values, payment histories, and other information. Furthermore, for each of the periods presented, a significant portion of New Residential’s assets are dependent on its servicers’ and subservicers’ ability to perform their obligations servicing the loans underlying New Residential’s Excess MSRs, MSRs, MSR Financing Receivables, Servicer Advance Investments, Non-Agency RMBS and loans. If a servicer is terminated, New Residential’s right to receive its portion of the cash flows related to interests in servicing related assets may also be terminated. The outbreak of the novel coronavirus (“COVID-19”) pandemic around the globe continues to adversely impact the U.S. and world economies and has contributed to significant volatility in global financial and credit markets. The impact of the outbreak has evolved rapidly. The major disruptions caused by COVID-19 significantly slowed many commercial activities in the U.S., resulting in a rapid rise in unemployment claims, reduced business revenues and sharp reductions in liquidity and the fair value of many assets, including those in which the Company invests. The ultimate duration and impact of the COVID-19 pandemic and response thereto remains uncertain.
Income Tax Uncertainties	New Residential is subject to significant tax risks. If New Residential were to fail to qualify as a REIT in any taxable year, New Residential would be subject to U.S. federal corporate income tax (including any applicable alternative minimum tax), which could be material. Unless entitled to relief under certain statutory provisions, New Residential would also be disqualified from treatment as a REIT for the four taxable years following the year during which qualification is lost.
Use of Estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Investment Consolidation and Transfers of Financial Assets	For each investment made, the Company evaluates the underlying entity that issued the securities acquired or to which the Company makes a loan to determine the appropriate accounting. A similar analysis is performed for each entity with which the Company enters into an agreement for management, servicing or related services. In performing the analysis, the Company refers to guidance in ASC 810-10, Consolidation . In situations where the Company is the transferor of financial assets, the Company refers to the guidance in ASC 860-10, Transfers and Servicing . In VIEs, an entity is subject to consolidation under ASC 810-10 if the equity investors either do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support, are unable to direct the entity’s activities or are not exposed to the entity’s losses or entitled to its residual returns. VIEs within the scope of ASC 810-10 are required to be consolidated by their primary beneficiary. The primary beneficiary of a VIE is determined to be the party that has both the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. This determination can sometimes involve complex and subjective analyses. Further, ASC 810-10 also requires ongoing assessments of whether an enterprise is the primary beneficiary of a VIE. In accordance with ASC 810-10, all transferees, including variable interest entities, must be evaluated for consolidation. If the Company determines that consolidation is not required, it will then assess whether the transfer of the underlying assets would qualify as a sale, should be accounted for as secured financings under GAAP, or should be accounted for as an equity method investment, depending on the circumstances. underlying securitized financial assets on improved terms. Securitization involves transferring assets to an SPE to convert all or a portion of those assets into cash before they would have been realized in the normal course of business through the SPE’s issuance of debt or equity instruments. Investors in an SPE usually have recourse only to the assets in the SPE and depending on the overall structure of the transaction, may benefit from various forms of credit enhancement, such as over-collateralization in the form of excess assets in the SPE, priority with respect to receipt of cash flows relative to holders of other debt or equity instruments issued by the SPE, or a line of credit or other form of liquidity agreement that is designed with the objective of ensuring that investors receive principal and/or interest cash flow on the investment in accordance with the terms of their investment agreement. The Company may periodically enter into transactions in which it transfers assets to a third party. Upon a transfer of financial assets, the Company will sometimes retain or acquire subordinated interests in the related assets. Pursuant to ASC 860-10, a determination must be made as to whether a transferor has surrendered control over transferred financial assets. That determination must consider the transferor’s continuing involvement in the transferred financial asset, including all arrangements or agreements made contemporaneously with, or in contemplation of, the transfer, even if they were not entered into at the time of the transfer. The financial components approach under ASC 860-10 limits the circumstances in which a financial asset, or portion of a financial asset, should be derecognized when the transferor has not transferred the entire original financial asset to an entity that is not consolidated with the transferor in the financial statements being presented and/or when the transferor has continuing involvement with the transferred financial asset. It defines the term “participating interest” to establish specific conditions for reporting a transfer of a portion of a financial asset as a sale. Under ASC 860-10, after a transfer of financial assets that meets the criteria for treatment as a sale-legal isolation, ability of transferee to pledge or exchange the transferred assets without constraint and transferred control-an entity recognizes the financial and servicing assets it acquired or retained and the liabilities it has incurred, derecognizes financial assets it has sold and derecognizes liabilities when extinguished. The transferor would then determine the gain or loss on sale of financial assets by allocating the carrying value of the underlying mortgage between securities or loans sold and the interests retained based on their fair values. The gain or loss on sale is the difference between the cash proceeds from the sale and the amount allocated to the securities or loans sold. When a transfer of financial assets does not qualify for sale accounting, ASC 860-10 requires the transfer to be accounted for as a secured borrowing with a pledge of collateral. From time to time, the Company may securitize mortgage loans it holds if such financing is available. Depending upon the structure of the securitization transaction, these transactions will be recorded in accordance with ASC 860-10 and will be accounted for as either a sale and the loans will be removed from the Consolidated Balance Sheets or as a financing and the loans will remain on the Consolidated Balance Sheets. ASC 860-10 is a standard that may require the Company to exercise significant judgment in determining whether a transaction should be recorded as a sale or a financing
Excess MSRs	Excess MSRs refer to the excess servicing spread related to mortgage servicing rights, whose underlying collateral is securitized in a trust. Upon acquisition, New Residential has elected to record each of such investments at fair value. New Residential elected to record its investments at fair value in order to provide users of the financial statements with better information regarding the effects of prepayment risk and other market factors on Excess MSRs. Under this election, New Residential records a valuation adjustment on its Excess MSRs on a quarterly basis to recognize the changes in fair value in net income. Excess MSRs are aggregated into pools as applicable; each pool of Excess MSRs is accounted for in the aggregate. Interest income for Excess MSRs is accreted into interest income on an effective yield or “interest” method, based upon the expected excess mortgage servicing amount through the expected life of the underlying mortgages. Changes to expected cash flows result in a cumulative retrospective adjustment, which will be recorded in the period in which the change in expected cash flows occurs. Under the retrospective method, the interest income recognized for a reporting period is measured as the difference between the amortized cost basis at the end of the period and the amortized cost basis at the beginning of the period, plus any cash received during the period. The amortized cost basis is calculated as the present value of estimated future cash flows using an effective yield, which is the yield that equates all past actual and current estimated future cash flows to the initial investment. In addition, New Residential’s policy is to recognize interest income only on its Excess MSRs in existing eligible underlying mortgages. The difference between the fair value of Excess MSRs and their amortized cost basis is recorded as Change in fair value of investments. Fair value is generally determined by discounting the expected future cash flows using discount rates that incorporate the market risks and liquidity premium specific to the Excess MSRs, and therefore may differ from their effective yields.
MSRs	MSRs represent the contractual right to service mortgage loans. The Company recognizes MSRs created through the sale of loans it originates. Under the accounting guidance for transfers and servicing, the Company initially measures a mortgage servicing asset that qualifies for separate recognition at fair value on the date of transfer. New Residential elected to record its investments at fair value in order to provide users of the financial statements with better information regarding the effects of prepayment risk and other market factors on MSRs. Under this election, New Residential records a valuation adjustment on its MSRs on a quarterly basis to recognize the changes in fair value in net income. MSRs are aggregated into pools as applicable; each pool of MSRs is accounted for in the aggregate. Income from MSRs is recorded in Servicing revenue, net of change in fair value and comprises (i) income from the MSRs, plus or minus (ii) the mark-to-market on the MSRs including change in fair value due to realization of cash flows. Fair value is generally determined by discounting the expected future cash flows using discount rates that incorporate the market risks and liquidity premium specific to the MSRs.
MSR Financing Receivables	In certain cases, New Residential has legally purchased MSRs or the right to the economic interest in MSRs; however, New Residential has determined that the purchase agreement would not be treated as a sale under GAAP. Therefore, rather than recording an investment in MSRs, New Residential records an investment in mortgage servicing rights financing receivables. Income from this investment (net of subservicing fees) is recorded as interest income, and New Residential has elected to measure the investment at fair value, with changes in fair value flowing through Change in fair value of investments in the Consolidated Statements of Income.
Servicer Advance Investments	New Residential accounts for its Servicer Advance Investments similarly to its Excess MSRs. Interest income for Servicer Advance Investments is accreted into interest income on an effective yield or “interest” method, based upon the expected aggregate cash flows of the Servicer Advance Investments, including the basic fee component of the related MSR (but excluding any Excess MSR component) through the expected life of the underlying mortgages, net of a portion of the basic fee component of the MSR that New Residential remits to the servicer as compensation for the servicer’s servicing activities. Changes to expected cash flows result in a cumulative retrospective adjustment, which is recorded in the period in which the change in expected cash flows occurs. Refer to “—Excess MSRs” for a description of the retrospective method. Fair value is generally determined by discounting the expected future cash flows using discount rates that incorporate the market risks and liquidity premium specific to the Servicer Advance Investments, and therefore may differ from their effective yields.
Real Estate and Other Securities	Agency and Non-Agency RMBS are classified as either available-for-sale or accounted for under the fair value option. The Company determines the appropriate classification of its securities at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. If classified as available-for-sale, investments are carried at fair value, with net unrealized gains or losses reported as a component of accumulated other comprehensive income. If classified under the fair value option, changes in fair value are recorded in the Consolidated Statements of Income as a component of Change in fair value of investments. Fair value is determined under the guidance of ASC 820, Fair Value Measurements and Disclosures . Management’s judgment is used to arrive at the fair value of the Company’s RMBS investments, taking into account prices obtained from third-party pricing providers and other applicable market data. The third-party pricing providers use pricing models that generally incorporate such factors as coupons, primary and secondary mortgage rates, rate reset periods, issuer, prepayment speeds, credit enhancements and expected life of the security. The Company’s application of ASC 820 guidance is discussed in further detail in Note 13. Investment securities transactions are recorded on the trade date. At disposition, the net realized gain or loss is determined on the basis of the cost of the specific investment and is included in net income. There are several different accounting models that may be applicable for purposes of the recognition of interest income on RMBS depending on whether the security is designated as available-for-sale or fair value option. The following accounting models apply to RMBS classified as available-for-sale: (i) RMBS of high credit quality rated ‘AA’ or higher that, at the time of purchase, the Company expects to collect all contractual cash flows and the security cannot be contractually prepaid in such a way that the Company would not recover substantially all of its recorded investment. (ii) Non-Agency RMBS which are not of high credit quality at the time of purchase or that can be contractually prepaid or otherwise settled in such a way that the Company would not recover substantially all of its recorded investment. For RMBS of high credit quality accounted for under (i) above, the Company recognizes interest income by applying the permitted “interest method,” whereby purchase premiums and discounts are amortized and accreted, respectively, as an adjustment to contractual interest income accrued at each security’s stated coupon rate. The interest method is applied at the individual security level based upon each security’s effective interest rate. The Company calculates each security’s effective interest rate at the time of purchase by solving for the discount rate that equates the present value of that security's remaining contractual cash flows (assuming no principal prepayments) to its purchase price. Because each security’s effective interest rate does not reflect an estimate of future prepayments, the Company refers to this manner of applying the interest method as the “contractual effective interest method.” When applying the contractual effective interest method to its investments in RMBS, as principal prepayments occur, a proportional amount of the unamortized premium or discount is recognized in interest income such that the contractual effective interest rate on the remaining security balance is unaffected. For Non-Agency RMBS accounted for under (ii) above, the Company recognizes interest income by applying the required prospective level-yield methodology. Interest income under this methodology is impacted by management judgments around both the amount and timing of credit losses (defaults) and prepayments. Consequently, interest income on these Non-Agency RMBS is recognized based on the timing and amount of cash flows expected to be collected, as opposed to being based on contractual cash flows. These securities are generally purchased at a discount to the principal amount. At the original acquisition date, the Company estimates the timing and amount of cash flows expected to be collected and calculates the present value of those amounts to the Company’s purchase price. In each subsequent balance sheet date, the Company revises its estimates of the remaining timing and amount of cash flows expected to be collected. If there is a positive change in the amount and timing of future cash flows expected to be collected from the previous estimate, the effective interest rate in future accounting periods may increase resulting in an increase in the reported amount of interest income in future periods. A positive change in the amount and timing of future cash flows expected to be collected is considered to have occurred when the net present value of future cash flows expected to be collected has increased from the previous estimate. This can occur from a change in either the timing of when cash flows are expected to be collected (i.e., from changes in prepayment speeds or the timing of estimated defaults) or in the amount of cash flows expected to be collected (i.e., from reductions in estimates of future defaults). If there is a negative or adverse change in the amount and timing of future cash flows expected to be collected from the previous estimate, and the security's fair value is below its amortized cost, an impairment loss equal to the adverse change in cash flows expected to be collected, discounted using the security's effective rate before impairment, is required to be recorded in current period earnings. Additionally, while the effective interest rate used to accrete interest income after an impairment has been recognized will generally be the same, the amount of interest income recorded in future periods will decline because of the reduced balance of the amortized cost basis of the investment to which such effective interest rate is applied. The following accounting models apply to RMBS accounted for under the fair value option: (iii) RMBS of high credit quality rated ‘AA’ or higher that, at the time of purchase, the Company expects to collect all contractual cash flows and the security cannot be contractually prepaid in such a way that the Company would not recover substantially all of its recorded investment. (iv) Non-Agency RMBS which are not of high credit quality at the time of purchase or that can be contractually prepaid or otherwise settled in such a way that the Company would not recover substantially all of its recorded investment. Interest income on RMBS accounted for in (iii) above is recognized based on the stated coupon rate and the outstanding principal amount. The original purchase premium or discount is not amortized or accreted as part of interest income but rather reflected as part of the security’s fair value. Interest income on Non-Agency RMBS accounted for in (iv) above is recognized in accordance with the model described in (ii) above. In June 2016, FASB issued ASU 2016-13, Financial Instruments - Credit Losses (“CECL”). This new guidance changed how entities measure credit losses for most financial assets that are not measured at fair value with changes in fair value recognized through net income. The Company adopted the new guidance as of January 1, 2020. The new guidance specifically excludes available-for-sale securities measured at fair value, with changes in fair value recognized through net income. Accordingly, the impact of the new guidance on accounting for the Company's debt securities was limited to recognition of effective yield which was historically impacted by other than temporary impairment recorded under standards prior to the adoption of CECL. As the new guidance eliminates the accounting for other than temporary impairment, this guidance impacted the Company's unrealized and realized gain (loss) amounts. Refer to the Recent Accounting Pronouncements section regarding the impact of the adoption of the standard on the Company’s consolidated financial statements. Subsequent to the adoption of CECL on January 1, 2020, the Company evaluates its RMBS classified as available-for-sale on a quarterly basis to assess whether a decline in the fair value below the amortized cost basis should be recognized in net income or other comprehensive income. The presence of an impairment is based upon a fair value decline below a security’s amortized cost basis and a corresponding adverse change in expected cash flows due to credit related factors as well as non-credit factors, such as changes in interest rates and market spreads. A security is considered to be impaired if the Company (i) intends to sell the security, (ii) will more likely than not be required to sell the security before recovering its cost basis, or (iii) does not expect to recover the security’s entire amortized cost basis, even if the Company does not intend to sell the security, or the Company believes it is more likely than not that it will be required to sell the security before recovering its cost basis. Under these scenarios, the full amount of impairment is recognized currently in net income and the cost basis of the security is adjusted. However, if the Company does not intend to sell the impaired security and it is more likely than not that it will not be required to sell before recovery, the impairment is separated into (i) the estimated amount relating to credit loss, or the credit component, and (ii) the amount relating to all other factors, or the non-credit component. Credit related impairment is recognized as an allowance on the balance sheet with a corresponding adjustment to net income, with the remainder of the loss recognized in accumulated other comprehensive income (loss). The allowance for credit loss as well as adjustment to net income can be reversed for subsequent changes in the estimate of expected credit loss. Impairment has been classified within Provision (reversal) for credit losses on securities in the Consolidated Statements of Income. Prior to the adoption of ASU 2016-13, the Company accounted for its securities under ASC 310 and ASC 325 and evaluated securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis. The determination of whether a security was other-than-temporarily impaired involved judgments and assumptions based on subjective and objective factors. When the fair value of a real estate security was less than its amortized cost at the balance sheet date, the security was considered impaired, and the impairment was designated as either "temporary" or “other-than-temporary.” When a real estate security was impaired, an OTTI was considered to have occurred if (i) the Company intended to sell the security (i.e., a decision has been made as of the reporting date) or (ii) it was more likely than not that the Company was required to sell the security before recovery of its amortized cost basis. If the Company intended to sell the security or if it was more likely than not that the Company was required to sell the real estate security before recovery of its amortized cost basis, the entire amount of the impairment loss, if any, was recognized in net income as a realized loss and the cost basis of the security was adjusted to its fair value. Additionally, for securities accounted for under ASC 325-40 an OTTI was deemed to have occurred when there was an adverse change in the expected cash flows to be received and the fair value of the security was less than its carrying amount. In determining whether an adverse change in cash flows occurred, the present value of the remaining cash flows, as estimated at the initial transaction date (or the last date previously revised), was compared to the present value of the expected cash flows at the current reporting date. The estimated cash flows reflected those a “market participant” would use and included observations of current information and events, and assumptions related to fluctuations in interest rates, prepayment speeds and the timing and amount of potential credit losses. Cash flows were discounted at a rate equal to the current yield used to accrete interest income. Any resulting OTTI adjustments were reflected in the Provision (reversal) for credit losses on securities line item in the Consolidated Statements of Income. The determination as to whether an OTTI existed was subjective, given that such determination was based on information available at the time of assessment as well as the Company’s estimate of the future performance and cash flow projections for the individual security. As a result, the timing and amount of an OTTI constituted an accounting estimate that could change materially over time. Increases in interest income could have been recognized on a security on which the Company previously recorded an OTTI charge if the performance of such security subsequently improved .
Residential Mortgage Loans and Consumers Loans	The Company's loan portfolio primarily consists of residential mortgage and consumer loans. The Company’s loans are classified as (i) held-for-investment at fair value, (ii) held-for-sale at fair value or (iii) held-for-sale at lower of cost or fair value. Loans are also eligible to be accounted for under the fair value option which are recorded on the Consolidated Balance Sheets at fair value and the periodic changes in fair value is recorded as a component of Change in fair value of investments in the Statements of Income. When the Company has the intent and ability to hold loans for the foreseeable future or to maturity/payoff, such loans are classified as held for investment. When the Company has the intent to sell loans, such loans are classified as held for sale. For originated residential mortgage loans measured at fair value, New Residential reports the change in the fair value within Gain on originated mortgage loans, held-for-sale, net in the Consolidated Statements of Income. Fair value is generally determined using a market approach by utilizing either (i) the fair value of securities backed by similar mortgage loans, adjusted for certain factors to approximate the fair value of a whole mortgage loan, (ii) current commitments to purchase loans or (iii) recent observable market trades for similar loans, adjusted for credit risk and other individual loan characteristics. For acquired residential mortgage loans measured at fair value, New Residential reports the change in the fair value within Change in fair value of investments in the Consolidated Statements of Income. Fair value is generally determined by discounting the expected future cash flows using inputs such as default rates, prepayment speeds and discount rates. For loans measured at the lower of cost or fair value, the Company accounts for any excess of cost over fair value as a valuation allowance and include changes in the valuation allowance in Valuation and credit loss provision (reversal) on loans and real estate owned (“REO”) in the Consolidated Statements of Income in the period in which the change occurs. Purchase price discounts or premiums are deferred in a contra loan account until the related loan is sold. The deferred discounts or premiums are an adjustment to the basis of the loan and are included in the quarterly determination of the lower of cost or fair value adjustments and/or the gain or loss recognized at the time of sale. Interest earned on residential mortgage loans measured at fair value are reported in Interest income in the Consolidated Statements of Income. As allowed upon adoption of CECL on January 1, 2020, New Residential elected to apply the fair value option for all consumer loans. The fair value option provides an election which allows a company to irrevocably elect fair value for certain financial asset and liabilities on an instrument-by-instrument basis. The Company elected the fair value option for these loans to better align reported results with the underlying economic changes in value of the loans on the Company’s Consolidated Balance Sheets. Refer to the Recent Accounting Pronouncements section regarding the impact of the adoption of the standard on the Company’s consolidated financial statements. Unrealized gains (losses) from the change in fair value of consumer loans are recognized in Change in fair value of investments in the Consolidated Statements of Income. Realized gains (losses) are recorded in Gain on settlement of investments, net in the Consolidated Statements of Income. Interest income is recognized over the life of the loan using the effective interest method and is recorded on the accrual basis. Subsequent to the adoption of CECL on January 1, 2020, the Company’s residential mortgage loans and consumer loans are carried at fair value or the lower of cost or fair value. As a result, these loans are not subject to an allowance for credit losses under the CECL impairment model.
Mortgage Loan Repurchases	NewRez, as an approved issuer of Ginnie Mae MBS, originates and securitizes government-insured residential mortgage loans. As the issuer of the Ginnie Mae-guaranteed securitizations, NewRez has the unilateral right to repurchase loans from the securitizations when they are delinquent for more than 90 days. Loans in forbearance that are three or more consecutive payments delinquent are included as delinquent loans permitted to be repurchased. Under GAAP, NewRez is required to recognize the right to loans on its balance sheet and establish a corresponding liability upon the triggering of the repurchase right regardless of whether NewRez intends to repurchase the loans. Upon recognizing loans eligible for repurchase, the Company does not change the accounting for MSRs related to previously sold loans. Upon reacquisition of a loan the MSR is written off.
Cash and Cash Equivalents and Restricted Cash	New Residential considers all highly liquid short-term investments with maturities of 90 days or less when purchased to be cash equivalents. Substantially all amounts on deposit with major financial institutions exceed insured limits.
Servicer Advances Receivable	Represents servicer advances due to New Residential’s servicer subsidiary, NRM (Note 6). The servicer advances receivable purchased in conjunction with MSRs are recorded with purchase discounts. Subsequent advances are recorded at cost, subject to impairment. Any related purchase discounts are accreted into servicing revenue, net (MSRs) or interest income (MSR financing receivables) on a straight-line basis over the estimated weighted average life of the advances.
Real estate owned (REO)	REO assets are those individual properties acquired by New Residential or where New Residential receives the property in satisfaction of a debt (e.g., by taking legal title or physical possession). New Residential measures REO assets at the lower of cost or fair value, with valuation changes recorded in Other income or Valuation and credit loss provision (reversal) on loans and real estate owned. REO assets are managed for prompt sale and disposition at the best possible economic value.
Goodwill	As a result of the Shellpoint and Guardian acquisitions, New Residential recorded goodwill for the consideration transferred in excess of the fair value of the net identifiable assets acquired. New Residential performs an annual assessment of goodwill on October 1 and in interim periods in case of events or circumstances that make it more likely than not that an impairment may have occurred.
Intangible Assets	As a result of the Shellpoint, Guardian and Ditech acquisitions, New Residential identified intangible assets in the form of licenses, customer relationships, business relationships, and tradename. New Residential recorded the intangible assets at fair value at the acquisition date and will amortize the value of finite lived intangibles into expense over the expected useful life. The licenses acquired as part of the Shellpoint acquisition and the tradename acquired as part of the Guardian acquisition were deemed to have an indefinite useful life and will be evaluated for impairment on a quarterly basis and the fair value will be assessed annually and in interim periods if indicators of impairment exist. New Residential performs an annual assessment of impairment on October 1 and in interim periods in case of events or circumstances that make it more likely than not that an impairment may have occurred. New Residential did not recognize any impairment for the year ended December 31, 2020.
Leases	New Residential determines if an arrangement is a lease at inception. Operating lease right-of-use (“ROU”) assets and Operating lease liabilities are grouped and presented as part of Other Assets and Accrued Expenses and Other Liabilities, respectively, on New Residential’s Consolidated Balance Sheets. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent obligations to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at commencement date based on the net present value of lease payments over the lease term. The majority of New Residential’s lease agreements do not provide an implicit rate. As a result, New Residential used an incremental borrowing rate based on the information available as of the lease commencement dates in determining the present value of lease payments. The operating lease ROU asset reflects any upfront lease payments made as well as lease incentives received. The lease terms may include options to extend or terminate the lease and these are factored into the determination of the ROU asset and lease liability at lease inception when and if it is reasonably certain that New Residential will exercise that option. Lease expense for fixed lease payments is recognized on a straight-line basis over the lease term. New Residential has certain lease agreements with non-lease components such as maintenance and executory costs, which are accounted for separately and not included in ROU assets. ROU assets are tested for impairment whenever changes in facts or circumstances indicate that the carrying amount of an asset may not be recoverable. Modification of a lease term would result in re-measurement of the lease liability and a corresponding adjustment to the ROU asset.
Income Taxes	New Residential operates so as to qualify as a REIT under the requirements of the Internal Revenue Code of 1986, as amended. Requirements for qualification as a REIT include various restrictions on ownership of New Residential’s stock, requirements concerning distribution of taxable income and certain restrictions on the nature of assets and sources of income. A REIT must distribute at least 90% of its taxable income to its stockholders (subject to certain adjustments). Distributions may extend until timely filing of New Residential’s tax return in the subsequent taxable year. Qualifying distributions of taxable income are deductible by a REIT in computing taxable income. Certain activities of New Residential are conducted through taxable REIT subsidiaries (“TRSs”) and therefore are subject to federal and state income taxes. Accordingly, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases upon the change in tax status. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. New Residential recognizes tax benefits for uncertain tax positions only if it is more likely than not that the position is sustainable based on its technical merits. Interest and penalties on uncertain tax positions are included as a component of the provision for income taxes in the Consolidated Statements of Income.
Secured Financing Agreements and Secured Notes and Bonds Payable	The Company finances the acquisition of certain assets within its investment portfolio using secured financing agreements, including repurchase agreements and warehouse credit facilities. Repurchase agreements and warehouse credit facilities are treated as collateralized financing transactions and carried at their contractual amounts, including accrued interest, as specified in the respective agreements. The carrying amount of the Company’s secured financing agreements and warehouse credit facilities approximates fair value. The Company pledges certain securities, loans or other assets as collateral under secured financing agreements and warehouse credit facilities with financial institutions, the terms and conditions of which are negotiated on a transaction-by-transaction basis. The amounts available to be borrowed under repurchase agreements and warehouse credit facilities are dependent upon the fair value of the securities, or loans pledged as collateral, which can fluctuate with changes in interest rates, type of security and liquidity conditions within the banking, mortgage finance and real estate industries.
Mortgage Origination Reserves	NewRez originates conventional, government-insured and nonconforming residential mortgage loans for sale and securitization. In connection with the transfer of loans to the GSEs or mortgage investors, NewRez provides representations and warranties regarding certain attributes of the loans and, subsequent to the sale, if it is determined that a sold loan is in breach of these representations and warranties, NewRez generally has an obligation to cure the breach. If NewRez is unable to cure the breach, the purchaser may require NewRez to repurchase the loan. New Residential records a reserve for sales recourse at the time of sale to cover all potential recourse obligations based on the outstanding balance of mortgage loans subject to recourse as well as historical and estimated future loss rates. New Residential evaluates the ongoing adequacy of the reserve based on actual experience and changing circumstances, making adjustments to the reserve as deemed necessary.
Interest Expense	New Residential finances certain investments using floating rate secured financing agreements and loans. Interest is expensed as incurred. See Note 12 for additional information.
General and Administrative Expenses	General and administrative expenses are expensed as incurred
Management Fee and Incentive Compensation to Affiliate	These represent amounts due to the Manager pursuant to the Management Agreement.
Offering Costs	The Company has incurred offering costs in connection with common stock offerings, registration statements, preferred stock offerings and exchanges. Where applicable, the offering costs were paid out of the proceeds of the respective offerings. Offering costs in connection with common stock offerings and costs in connection with registration statements have been accounted for as a reduction of additional paid-in capital. Offering costs in connection with preferred stock offerings have been accounted for as a reduction of their respective gross proceeds. Exchange costs in connection with the Company's preferred stock exchanges have been accounted for as a reduction to the Company's retained earnings.
Earnings (Loss) Per Share	In accordance with the provisions of ASC 260, Earnings per Share , New Residential calculates basic income (loss) per share by dividing net income (loss) available to common stockholders for the period by weighted average shares of the Company’s common stock outstanding for that period. Diluted income per share takes into account the
Comprehensive Income	Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances, excluding those resulting from investments by and distributions to owners. For New Residential’s purposes, comprehensive income represents net income, as presented in the Consolidated Statements of Income, adjusted for unrealized gains or losses on certain securities classified as available for sale.
Recent Accounting Pronouncements	In February 2016, the FASB issued ASU 2016-02, Leases . The standard requires that lessees recognize a right-of-use asset and corresponding lease liability on the balance sheet for most leases. The guidance applied by a lessor under ASU 2016-02 is substantially similar to existing GAAP. ASU 2016-02 was effective for New Residential in the first quarter of 2019. An entity is allowed to apply ASU 2016-02 by means of a modified retrospective transition method for all leases existing at, or entered into after, the date of initial application. The adoption of ASU 2016-02 did not have a material impact on the consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments (“CECL”) . The standard requires that a financial asset measured at amortized cost basis be presented at the net amount expected to be collected, net of an allowance for all expected (rather than incurred) credit losses. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The standard also changes the accounting for purchased credit deteriorated assets and available-for-sale securities, which requires the recognition of credit losses through a valuation allowance when fair value is less than amortized cost, regardless of whether the impairment is considered to be other-than-temporary. The standard provides an option to elect the fair value option for certain investments as an alternative to adopting ASU 2016-13. Lastly, an entity is required to apply ASU 2016-13 using the modified retrospective approach which requires a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The standard was effective for New Residential in the first quarter of 2020. Upon adoption of the standard, New Residential elected the fair value option on its held for investment residential mortgage and consumer loans portfolios. As a result, the Company recognized a positive adjustment of $13.7 million to retained earnings, composed of a $19.7 million increase attributable to the change in the fair value of consumer loans, net of noncontrolling interests, partially offset by a $6.0 million decrease attributable to the change in fair value of residential mortgage loans. For servicer advance receivables, the Company determined credit-related losses are not significant because of the contractual relationships with the agencies. For other assets, primarily trade receivables, the Company determined that these are short-term in nature (less than one year), and the estimated credit-related losses over the life of these receivables are not significant. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820) . The standard (i) adds incremental requirements for entities to disclose (a) the amount of total gains or losses for the period recognized in other comprehensive income that is attributable to fair value changes in assets and liabilities held as of the balance sheet date and categorized within Level 3 of the fair value hierarchy, (b) the range and weighted average used to develop significant unobservable inputs and (c) how the weighted average was calculated for fair value measurements categorized within Level 3 of the fair value hierarchy and (ii) eliminates disclosure requirements for (a) transfers between Level 1 and Level 2 and (b) valuation processes for Level 3 fair value measurements. ASU 2018-13 was effective for New Residential in the first quarter of 2020. The adoption of ASU 2018-13 did not have a material impact on the consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . The standard was issued to ease the accounting effects of reform to the London Interbank Offered Rate (“LIBOR”) and other reference rates. The standard provides optional expedients and exceptions for applying GAAP to debt, derivatives, and other contracts affected by reference rate reform. In January 2021, the FASB amended the standard to clarify option expedients and exceptions for contract modifications and hedge accounting. The standard is effective for all entities as of March 12, 2020 through December 31, 2022 and may be elected over time as reference rate reform activities occur. The Company is currently evaluating the impact the adoption of this standard would have on its consolidated financial statements. In August 2020, the FASB issued ASU 2020-06, Debt–Debt with Conversion and Other Options (Topic 470) and Derivatives and Hedging–Contracts in Entity’s Own Equity (Topic 815) . The standard simplifies the accounting for convertible instruments by reducing the number of accounting models. A convertible debt instrument will generally be reported as a single liability at its amortized cost with no separate accounting for embedded conversion features. The standard also amends the accounting for certain contracts in an entity’s own equity that are currently accounted for as derivatives because of specific settlement provisions. In addition, the new guidance eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. ASU 2020-16 is effective for New Residential beginning in the first quarter of 2022 with early adoption permitted beginning in 2021. The Company is currently evaluating the impact the adoption of this standard would have on its consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Other Assets and Other Liabilities	Other Assets and Other Liabilities — Other assets and liabilities are composed of the following: Other Assets Accrued Expenses and Other Liabilities December 31, December 31, 2020 2019 2020 2019 Margin receivable, net (A) $ 271,753 $ 280,176 MSRs purchase price holdback $ 25,121 $ 75,348 Servicing fee receivables 137,426 159,607 Interest payable 44,623 68,668 Due from servicers 67,854 163,961 Accounts payable 87,406 119,771 Principal and interest receivable 41,589 85,191 Derivative liabilities (Note 11) 119,762 6,885 Equity investment (B) 55,504 114,763 Due to servicers 59,671 102,411 Other receivables 109,111 117,045 Due to Agencies 26,748 25,435 REO 45,299 93,672 Contingent consideration 14,247 55,222 Single-family rental properties 41,271 24,133 Accrued compensation and benefits 67,025 41,228 Goodwill (C) 29,468 29,737 Excess spread financing, at fair value 18,420 31,777 Notes receivable (D) 52,389 37,001 Operating lease liability 31,270 38,520 Warrants, at fair value 23,218 28,042 Reserve for sales recourse 9,799 12,549 Recovery asset 13,006 23,100 Reserve for servicing losses 9,288 — Property and equipment 27,493 18,018 Deferred tax liability 7,859 — Receivable from government agency (E) 14,369 19,670 Other liabilities 16,063 22,976 Intangible assets 34,125 40,963 $ 537,302 $ 600,790 Prepaid expenses 30,949 19,249 Operating lease right-of-use assets 26,913 32,120 Derivative assets (Note 11) 290,144 41,501 Ocwen common stock, at fair value 11,187 7,952 Deferred tax asset — 8,669 Deferred financing costs, net 886 — Other assets 34,468 51,230 $ 1,358,422 $ 1,395,800 (A) Represents collateral posted primarily as a result of changes in fair value of New Residential’s 1) real estate securities securing its secured financing agreements and 2) derivative instruments. (B) Represents equity investments in funds that invest in 1) a commercial redevelopment project, 2) operating companies in the single-family housing industry. The indirect investments are accounted for at fair value based on the net asset value of New Residential’s investment and as an equity method investment, respectively. Equity investments also includes an investment in Covius Holding Inc. (“Covius”), a provider of various technology-enabled services to the mortgage and real estate industries. (C) Includes goodwill derived from the acquisition of Shellpoint Partners LLC (“Shellpoint”) and DGG RE Investments d/b/a Guardian Asset Management LLC (“Guardian”). (D) Represents a four-year subordinated debt facility to Covius. (E) Represents claims receivable from the FHA on early buyout (“EBO”) and reverse mortgage loans for which foreclosure has been completed and for which New Residential has made or intends to make a claim on the FHA guarantee.
Schedule of Real Estate Owned	The following table presents activity related to the carrying value of New Residential’s investments in REO: Real Estate Owned Balance at December 31, 2018 $ 113,410 Purchases 68,024 Transfer of loans to real estate owned 86,167 Sales (A) (150,431) Valuation (provision) reversal on REO 635 Balance at December 31, 2019 $ 117,805 Purchases 23,640 Transfer of loans to real estate owned 43,409 Sales (A) (101,035) Valuation (provision) reversal on REO 2,751 Balance at December 31, 2020 $ 86,570 (A) Recognized when control of the property has transferred to the buyer.
Schedule of Accretion and Other Amortization	As reflected on the Consolidated Statements of Cash Flows, this item is composed of the following: Year Ended December 31, 2020 2019 2018 Accretion of net discount on securities and loans (A) $ 96,148 $ 323,652 $ 452,500 Accretion of servicer advances receivable discount and servicer advance investments 55,664 28,094 214,876 Accretion of excess mortgage servicing rights income 28,352 32,647 44,440 Amortization of deferred financing costs (22,733) (4,019) (7,795) Amortization of discount on secured notes and bonds payable (388) (1,245) (2,054) Amortization of discount on term loan (5,503) — — $ 151,540 $ 379,129 $ 701,967 (A) Includes accretion of the accretable yield on PCD loans.
Change in Fair Value of Investments	This item is composed of the following: Year Ended December 31, 2020 2019 2018 Excess mortgage servicing rights $ (16,232) $ (10,505) $ (58,656) Excess mortgage servicing rights, equity method investees (3,489) 6,800 8,357 Mortgage servicing rights financing receivables (279,168) (189,023) 31,550 Servicer advance investments 763 10,288 (89,332) Real estate and other securities 28,455 2,101 10,283 Residential mortgage loans (107,604) (70,914) 69,820 Consumer loans held-for-investment (6,384) — — Derivative instruments (53,467) (56,143) (108,234) $ (437,126) $ (307,396) $ (136,212)
Schedule of Gain (Loss) on Settlement of Investments, Net	This item is composed of the following: Year Ended December 31, 2020 2019 2018 Gain (loss) on sale of real estate securities $ (753,713) $ 205,989 $ (29,936) Gain (loss) on sale of acquired residential mortgage loans (5,662) 153,174 (7,677) Gain (loss) on settlement of derivatives (74,812) (129,923) 54,867 Gain (loss) on liquidated residential mortgage loans 4,644 (4,872) (3,734) Gain (loss) on sale of REO (21,925) (11,521) (12,424) Gain (loss) on extinguishment of debt (66,233) (8,532) (624) Gain on settlement of investments in excess MSRs and Servicer advance investments — — 113,002 Other gains (losses) (12,430) 23,666 (17,410) $ (930,131) $ 227,981 $ 96,064
Schedule of Other Income (Loss), Net	This item is composed of the following: Year Ended December 31, 2020 2019 2018 Unrealized gain (loss) on secured notes and bonds payable $ (966) $ (1,236) $ (684) Unrealized gain (loss) on contingent consideration (6,568) (10,487) (1,581) Unrealized gain (loss) on equity investments (54,455) (3,096) (677) Gain (loss) on transfer of loans to REO 7,945 11,842 19,519 Gain (loss) on transfer of loans to other assets (939) (1,144) (1,977) Gain (loss) on Ocwen common stock 3,235 174 (10,860) Provision for servicing losses (15,330) (9,102) (27) Bargain purchase gain (A) — 49,539 — Rental and ancillary revenue 25,409 6,732 — Property and maintenance revenue 70,527 14,449 — Other income (loss) (31,655) (17,852) (25,697) $ (2,797) $ 39,819 $ (21,984) (A) Partly driven by transition, integration, relocation and training costs related to the Ditech Acquisition (see Note 3).
Schedule of General and Administrative Expenses	General and administrative expenses are expensed as incurred and is composed of the following: Year Ended December 31, 2020 2019 2018 Compensation and benefits expense $ 230,009 $ 121,004 $ 47,084 Compensation and benefits expense, origination 341,637 164,485 62,786 Legal and professional expense 70,502 89,489 45,234 Loan origination expense 92,081 45,483 6,820 Occupancy expense 36,799 19,388 8,868 Subservicing expense 201,444 227,482 176,784 Loan servicing expense 14,126 31,737 43,547 Property and maintenance expense 42,508 8,112 — Other (A) 90,981 74,791 50,763 $ 1,120,087 $ 781,971 $ 441,886 (A) Represents miscellaneous general and administrative expenses.

BUSINESS ACQUISITIONS (Tables)

BUSINESS ACQUISITIONS (Tables)	12 Months Ended
BUSINESS ACQUISITIONS (Tables)	Dec. 31, 2020
Business Combinations [Abstract]
Schedule of Purchase Price Allocation	New Residential has performed an allocation of the total consideration paid to acquire the assets and liabilities of the companies acquired, as set forth below. 2019 2018 Ditech Guardian Total Shellpoint Total Consideration ($ in millions) $ 1,218.2 $ 21.5 $ 1,239.7 $ 425.5 Assets Mortgage servicing rights, at fair value (A) $ 387.2 $ — $ 387.2 $ 286.6 Residential mortgage loans, held-for-investment, at fair value — — — 125.3 Residential mortgage loans, held-for-sale, at fair value 627.4 — 627.4 488.2 Residential mortgage loans subject to repurchase — — — 121.4 Cash and cash equivalents — 1.8 1.8 79.2 Restricted cash — — — 9.9 Servicer advance receivable 238.0 — 238.0 22.4 Intangible assets (B) (C) (D) 10.5 11.7 22.2 18.4 Other assets (E) 64.8 6.6 71.4 59.1 Total Assets Acquired $ 1,327.9 $ 20.1 $ 1,348.0 $ 1,210.5 Liabilities Secured financing agreements $ — $ — $ — $ 439.6 Secured notes and bonds payable — — — 20.7 Mortgage-backed securities issued, at fair value — — — 120.7 Residential mortgage loans repurchase liability — — — 121.4 Excess spread financing, at fair value — — — 48.3 Accrued expenses and other liabilities 60.2 3.7 63.9 50.6 Total Liabilities Assumed $ 60.2 $ 3.7 $ 63.9 $ 801.3 Noncontrolling Interest $ — $ — $ — $ 8.3 Net Assets $ 1,267.7 $ 16.4 $ 1,284.1 $ 400.9 Goodwill (bargain purchase gain) $ (49.5) $ 5.1 $ (44.4) $ 24.6 (A) Includes $135.3 million of Ginnie Mae MSRs related to the Shellpoint acquisition where New Residential acquired the rights to the economic value of the servicing rights from Shellpoint prior to the acquisition date. (B) Includes intangible assets acquired as part of the Ditech acquisition in the form of correspondent customer relationships and servicing contracts tied to the recovery of defaulted loans. These intangibles will be amortized over a finite life of three years based on the expected useful life of these intangibles. (C) Includes intangible assets acquired as part of the Guardian acquisition in the form of customer relationships and a tradename. Customer relationships will be amortized over a finite life of seven years based on the expected useful life of these intangibles. New Residential has determined that the tradename has an indefinite useful life and will be evaluated for impairment given no legal, regulatory, contractual, competitive or economic factors that would limited useful life. (D) Includes intangible assets acquired as part of the Shellpoint acquisition in the form of mortgage origination and servicing licenses, internally developed software and a tradename. New Residential determined that mortgage origination and servicing licenses have an indefinite useful life and will be evaluated for impairment given no legal, regulatory, contractual, competitive or economic factors that would limit the useful life. Internally developed software will be amortized over a finite useful life of five years and tradenames were fully amortized over six months, respectively, based on the expected software development timeline and New Residential’s determination of the time to change a tradename with limited value. (E) Includes post loan charge off deficiency balances acquired through the Ditech Acquisition.
Schedule of Total Consideration	The acquisition date fair value of the consideration transferred includes $1.2 billion in cash consideration and $4.9 million in effective settlement of preexisting relationships. The total consideration is summarized as follows: Total Consideration (in millions) Amount Cash Consideration $ 1,213.3 Effective Settlement of Preexisting Relationships (A) 4.9 Total Consideration $ 1,218.2 (A) Represents the effective settlement of preexisting relationships between New Residential and Ditech related to operating accounts receivable and payable existing prior to the acquisition date. The effective settlement of these preexisting relationships had no impact to New Residential’s Consolidated Statements of Income. New Residential recognized the effective settlement of preexisting relationships separately from the acquisition of assets and assumption of liabilities in the business combination. The acquisition date fair value of the consideration transferred includes $7.6 million in cash consideration and $13.9 million in contingent consideration. The total consideration is summarized as follows: Total Consideration (in millions) Amount Cash Consideration $ 7.6 Earnout Payment (A) 13.9 Total Consideration $ 21.5 Total Consideration (in millions) Amount Cash Consideration $ 212.3 Earnout Payment (A) 39.3 Effective Settlement of Preexisting Relationships (B) 173.9 Total Consideration $ 425.5 (A) The range of outcomes for this contingent consideration is from $0 to $60.0 million, dependent on the performance of Shellpoint. At acquisition date, New Residential derived a fair value of the remaining contingent consideration payment in three years of $39.3 million. This amount excludes contingent payments to the long-term employee incentive plans that require continuing employment and are recognized as compensation expense within General and Administrative expenses in the post-acquisition consolidated financial statements separate from New Residential’s acquisition of assets and assumption of liabilities in the business combination. (B) Represents the effective settlement of preexisting relationships between New Residential and Shellpoint. The effective settlement of these preexisting relationships had no impact to New Residential’s Consolidated Statements of Income.
Schedule of Unaudited Supplemental Pro Forma Financial Information	The following table presents unaudited pro forma combined Servicing and Origination Revenue, which is comprised of (i) servicing revenue, net and (ii) gain on originated mortgage loans, held-for-sale, net, and Income Before Income Taxes for the years ended December 31, 2019 and 2018 prepared as if the Ditech Acquisition had been consummated on January 1, 2018. Year Ended December 31, 2019 2018 Pro Forma (in millions) Servicing and Origination Revenue $ 1,104.0 $ 1,238.1 Income Before Income Taxes 552.8 923.3 Year Ended December 31, 2019 2018 Pro Forma (in millions) Income Before Income Taxes $ 651.5 $ 932.2 Year Ended December 31, 2018 2017 Pro Forma (in millions) Servicing and Origination Revenue $ 767.0 $ 749.0 Income Before Income Taxes 948.1 1,197.5

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
SEGMENT REPORTING (Tables)	Dec. 31, 2020
Segment Reporting [Abstract]
Summary of Segment Financial Data	ummarize segment financial information, which in total reconciles to the same data for New Residential as a whole: Servicing and Origination Residential Securities and Loans Origination Servicing MSR Related Investments Eliminations (A) Total Servicing and Origination Real Estate Residential Mortgage Loans Consumer Corporate Total Year Ended December 31, 2020 Interest income $ 63,160 $ 8,288 $ 374,698 $ — $ 446,146 $ 355,916 $ 175,963 $ 124,512 $ — $ 1,102,537 Servicing revenue, net (11,519) 417,438 (743,987) (216,973) (555,041) — — — — (555,041) Gain on originated mortgage loans, held-for-sale, net 1,289,584 1,722 69,714 39,532 1,400,552 (13,398) 11,938 — — 1,399,092 Total revenues 1,341,225 427,448 (299,575) (177,441) 1,291,657 342,518 187,901 124,512 — 1,946,588 Interest expense 45,676 495 233,619 — 279,790 157,371 87,958 22,587 36,763 584,469 G&A and other 494,398 294,594 446,469 (216,973) 1,018,488 7,639 62,900 10,301 109,893 1,209,221 Total operating expenses 540,074 295,089 680,088 (216,973) 1,298,278 165,010 150,858 32,888 146,656 1,793,690 Change in fair value of investments — — (298,126) — (298,126) (25,012) (107,604) (6,384) — (437,126) Gain (loss) on settlement of investments, net — — (16,713) — (16,713) (828,525) (19,655) (4,183) (61,055) (930,131) Other income (loss), net 433 499 37,453 — 38,385 2,333 (3,220) 814 (41,109) (2,797) Total other income (loss) 433 499 (277,386) — (276,454) (851,204) (130,479) (9,753) (102,164) (1,370,054) Impairment — — 141 — 141 13,404 110,067 — — 123,612 Income (Loss) Before Income Taxes 801,584 132,858 (1,257,190) 39,532 (283,216) (687,100) (203,503) 81,871 (248,820) (1,340,768) Income tax (benefit) expense 211,359 32,810 (162,817) — 81,352 — (65,215) 779 — 16,916 Net Income (Loss) $ 590,225 $ 100,048 $ (1,094,373) $ 39,532 $ (364,568) $ (687,100) $ (138,288) $ 81,092 $ (248,820) $ (1,357,684) Noncontrolling interests in income (loss) of consolidated subsidiaries 15,625 — 891 — 16,516 — — 36,158 — $ 52,674 Dividends on preferred stock — — — — — — — — 54,295 54,295 Net income (loss) attributable to common stockholders $ 574,600 $ 100,048 $ (1,095,264) $ 39,532 $ (381,084) $ (687,100) $ (138,288) $ 44,934 $ (303,115) $ (1,464,653) Servicing and Origination Residential Securities Origination Servicing MSR Related Investments Eliminations (A) Total Servicing and Origination Real Estate Residential Mortgage Loans Consumer Corporate Total December 31, 2020 Investments $ 2,947,113 $ — $ 5,534,752 $ — $ 8,481,865 $ 14,244,558 $ 3,029,339 $ 685,575 $ — $ 26,441,337 Cash and cash equivalents 123,124 59,798 412,578 — 595,500 222,372 7,472 3,182 116,328 944,854 Restricted cash 14,826 49,913 28,128 — 92,867 15,652 96 27,004 — 135,619 Other assets 551,910 206,646 4,538,045 — 5,296,601 232,837 86,762 38,465 46,171 5,700,836 Goodwill 11,836 12,540 5,092 — 29,468 — — — — 29,468 Total assets $ 3,648,809 $ 328,897 $ 10,518,595 $ — $ 14,496,301 $ 14,715,419 $ 3,123,669 $ 754,226 $ 162,499 $ 33,252,114 Debt $ 2,700,962 $ 3,285 $ 5,998,711 $ — $ 8,702,958 $ 13,473,239 $ 2,386,919 $ 628,759 $ 541,516 $ 25,733,391 Other liabilities 298,106 89,713 1,520,959 — 1,908,778 20,863 28,577 622 130,199 2,089,039 Total liabilities 2,999,068 92,998 7,519,670 — 10,611,736 13,494,102 2,415,496 629,381 671,715 27,822,430 Total equity 649,741 235,899 2,998,925 — 3,884,565 1,221,317 708,173 124,845 (509,216) 5,429,684 Noncontrolling interests in equity of consolidated subsidiaries 19,402 — 43,882 — 63,284 — — 45,384 — 108,668 Total New Residential stockholders’ equity $ 630,339 $ 235,899 $ 2,955,043 $ — $ 3,821,281 $ 1,221,317 $ 708,173 $ 79,461 $ (509,216) $ 5,321,016 Investments in equity method investees $ — $ — $ 129,873 $ — $ 129,873 $ — $ — $ — $ — $ 129,873 Servicing and Origination Residential Securities Origination Servicing MSR Related Investments Eliminations (A) Total Servicing and Origination Real Estate Residential Mortgage Loans Consumer Corporate Total Year Ended December 31, 2019 Interest income $ 42,166 $ 34,013 $ 530,225 $ — $ 606,404 $ 744,145 $ 249,673 $ 165,877 $ 31 $ 1,766,130 Servicing revenue, net (1,605) 209,982 225,361 (48,579) 385,159 — — — — 385,159 Gain on originated mortgage loans, held-for-sale, net 390,981 1,029 43,914 (51,360) 384,564 — 75,543 — — 460,107 Total revenues 431,542 245,024 799,500 (99,939) 1,376,127 744,145 325,216 165,877 31 2,611,396 Interest expense 41,949 1,043 246,294 — 289,286 453,609 158,298 32,558 — 933,751 G&A and other 252,458 170,516 310,715 (48,579) 685,110 3,160 52,745 22,540 189,780 953,335 Total operating expenses 294,407 171,559 557,009 (48,579) 974,396 456,769 211,043 55,098 189,780 1,887,086 Change in fair value of investments — — (182,440) — (182,440) (54,042) (70,914) — — (307,396) Gain (loss) on settlement of investments, net — — 8,030 — 8,030 74,927 153,449 (8,425) — 227,981 Other income (loss), net 9,340 5,343 30,760 — 45,443 44 (7,150) (1,574) 1,618 38,381 Total other income (loss) 9,340 5,343 (143,650) — (128,967) 20,929 75,385 (9,999) 1,618 (41,034) Impairment — — — — — 25,174 (20,607) 31,010 — 35,577 Income (Loss) Before Income Taxes 146,475 78,808 98,841 (51,360) 272,764 283,131 210,165 69,770 (188,131) 647,699 Income tax (benefit) expense (C) 39,768 21,396 9,565 — 70,729 — (28,461) (502) — 41,766 Net Income (Loss) $ 106,707 $ 57,412 $ 89,276 $ (51,360) $ 202,035 $ 283,131 $ 238,626 $ 70,272 $ (188,131) $ 605,933 Noncontrolling interests in income (loss) of consolidated subsidiaries 6,231 — 4,255 — 10,486 — — 32,151 — 42,637 Dividends on Preferred Stock — — — — — — — — 13,281 13,281 Net income (loss) attributable to common stockholders $ 100,476 $ 57,412 $ 85,021 $ (51,360) $ 191,549 $ 283,131 $ 238,626 $ 38,121 $ (201,412) $ 550,015 Servicing and Origination Residential Securities Origination Servicing MSR Related Investments Eliminations (A) Total Servicing and Origination Real Estate Residential Mortgage Loans Consumer Corporate Total December 31, 2019 Investments $ 1,414,528 $ — $ 6,773,353 $ — $ 8,187,881 $ 19,477,728 $ 5,843,983 $ 827,545 $ — $ 34,337,137 Cash and cash equivalents 77,237 32,225 318,714 — 428,176 87,359 1,180 6,514 5,508 528,737 Restricted cash 6,730 15,769 107,328 — 129,827 — — 32,370 — 162,197 Other assets 250,709 204,723 3,420,122 — 3,875,554 5,590,456 174,940 78,740 85,956 9,805,646 Goodwill 11,836 12,809 5,092 — 29,737 — — — — 29,737 Total assets $ 1,761,040 $ 265,526 $ 10,624,609 $ — $ 12,651,175 $ 25,155,543 $ 6,020,103 $ 945,169 $ 91,464 $ 44,863,454 Debt $ 1,304,621 $ 33,412 $ 6,646,159 $ — $ 7,984,192 $ 22,151,110 $ 4,676,849 $ 824,222 $ — $ 35,636,373 Other liabilities 117,328 51,264 451,629 — 620,221 980,415 55,121 16,795 318,269 1,990,821 Total liabilities 1,421,949 84,676 7,097,788 — 8,604,413 23,131,525 4,731,970 841,017 318,269 37,627,194 Total equity 339,091 180,850 3,526,821 — 4,046,762 2,024,018 1,288,133 104,152 (226,805) 7,236,260 Noncontrolling interests in equity of consolidated subsidiaries 11,354 — 45,025 — 56,379 — — 22,171 — 78,550 Total New Residential stockholders’ equity $ 327,737 $ 180,850 $ 3,481,796 $ — $ 3,990,383 $ 2,024,018 $ 1,288,133 $ 81,981 $ (226,805) $ 7,157,710 Investments in equity method investees $ — $ — $ 165,848 $ — $ 165,848 $ — $ — $ — $ — $ 165,848 Servicing and Origination (B) Residential Securities Origination Servicing MSR Related Investments Eliminations (A) Total Servicing and Origination Real Estate Residential Mortgage Loans Consumer Corporate Total Year Ended December 31, 2018 Interest income $ 12,430 $ 8,148 $ 703,387 $ — $ 723,965 $ 573,539 $ 158,892 $ 206,321 $ 1,506 $ 1,664,223 Servicing revenue, net (450) 75,388 463,842 (10,185) 528,595 — — — — 528,595 Gain on originated mortgage loans, held-for-sale, net 98,987 — (4,511) (17,168) 77,308 — 8,757 — — 86,065 Total revenues 110,967 83,536 1,162,718 (27,353) 1,329,868 573,539 167,649 206,321 1,506 2,278,883 Interest expense 10,018 264 232,063 — 242,345 240,615 80,910 42,563 — 606,433 G&A and other 95,551 64,633 200,866 (10,185) 350,865 1,554 32,424 35,230 179,307 599,380 Total operating expenses 105,569 64,897 432,929 (10,185) 593,210 242,169 113,334 77,793 179,307 1,205,813 Change in fair value of investments — — (108,081) — (108,081) (97,951) 69,820 — — (136,212) Gain (loss) on settlement of investments, net — — 121,814 — 121,814 25,497 (51,757) — 510 96,064 Other income (loss), net 2,067 — (1,461) — 606 (472) (10,364) 9,965 (10,916) (11,181) Total other income (loss) 2,067 — 12,272 — 14,339 (72,926) 7,699 9,965 (10,406) (51,329) Impairment — — — — — 30,017 12,061 48,563 — 90,641 Income (Loss) Before Income Taxes 7,465 18,639 742,061 (17,168) 750,997 228,427 49,953 89,930 (188,207) 931,100 Income tax (benefit) expense (C) 1,916 4,785 (15,065) — (8,364) — (65,279) 212 — (73,431) Net Income (Loss) $ 5,549 $ 13,854 $ 757,126 $ (17,168) $ 759,361 $ 228,427 $ 115,232 $ 89,718 $ (188,207) $ 1,004,531 Noncontrolling interests in income (loss) of consolidated subsidiaries 1,599 — 1,978 — 3,577 — — 36,987 — 40,564 Dividends on Preferred Stock — — — — — — — — — — Net income (loss) attributable to common stockholders $ 3,950 $ 13,854 $ 755,148 $ (17,168) $ 755,784 $ 228,427 $ 115,232 $ 52,731 $ (188,207) $ 963,967 (A) Elimination of intercompany transactions related primarily to servicing fees, loan sales, and MSR recaptures. (B) Includes results from July 3, 2018, the date of Shellpoint Acquisition (Note 3). (C) In 2020, New Residential revised its methodology of allocating tax expense within the Servicing and Origination segments. Specifically, taxes are now allocated based on intercompany agreements rather than based on a more general pro rata approach, which better reflects the operating performance of each respective segment. The revised methodology has been applied consistently for all periods presented.

EXCESS MORTGAGE SERVICING RIG_2

EXCESS MORTGAGE SERVICING RIGHTS (Tables)	12 Months Ended
EXCESS MORTGAGE SERVICING RIGHTS (Tables)	Dec. 31, 2020
Transfers and Servicing [Abstract]
Schedule of Servicing Assets at Fair Value	The table below summarizes the components of excess mortgage servicing rights assets as presented on the consolidated balance sheets: Year Ended December 31, 2020 2019 Direct investments in Excess MSRs $ 310,938 $ 379,747 Excess MSR Joint Ventures 99,917 125,596 Excess mortgage servicing rights assets, at fair value $ 410,855 $ 505,343 The following table presents activity related to the carrying value of New Residential’s direct investments in Excess MSRs: Servicer Mr. Cooper SLS (A) Total Balance as of December 31, 2018 $ 445,328 $ 2,532 $ 447,860 Interest income 32,587 60 32,647 Other income 3,851 — 3,851 Proceeds from repayments (83,612) (419) (84,031) Proceeds from sales (10,075) — (10,075) Change in fair value (10,387) (118) (10,505) Balance as of December 31, 2019 377,692 2,055 379,747 Interest income 28,217 135 28,352 Other income (12,123) — (12,123) Proceeds from repayments (67,340) (405) (67,745) Proceeds from sales (1,061) — (1,061) Change in fair value (16,376) 144 (16,232) Balance as of December 31, 2020 $ 309,009 $ 1,929 $ 310,938 (A) Specialized Loan Servicing LLC (“SLS”). Changes in fair value recorded in other income is composed of the following: Year Ended December 31, 2020 2019 2018 Original and Recaptured Pools $ (16,232) $ (10,505) $ (58,656) The following table presents activity related to the carrying value of New Residential’s MSRs and MSR Financing Receivables: MSRs MSR Financing Receivables Total Balance as of December 31, 2018 $ 2,884,100 $ 1,644,504 $ 4,528,604 Purchases, net (A) 678,424 652,902 1,331,326 Transfers (B) 367,121 (367,121) — Other transfers (C) (410) — (410) Ditech Acquisition (Note 3) 387,170 — 387,170 Originations (D) 374,450 — 374,450 Proceeds from sales (1,539) (22,989) (24,528) Change in fair value due to: Realization of cash flows (E) (537,111) (203,732) (740,843) Change in valuation inputs and assumptions (F) (187,530) 21,094 (166,436) (Gain) loss realized 3,285 (6,385) (3,100) Balance as of December 31, 2019 $ 3,967,960 $ 1,718,273 $ 5,686,233 Purchases, net (A) 449,875 (18,267) 431,608 Transfers (G) 320,613 (320,613) — Originations (D) 666,414 — 666,414 Proceeds from sales (11,282) (4,059) (15,341) Change in fair value due to: Realization of cash flows (E) (1,369,607) (222,674) (1,592,281) Change in valuation inputs and assumptions (F) (536,694) (54,745) (591,439) (Gain) loss realized 2,396 (1,749) 647 Balance as of December 31, 2020 $ 3,489,675 $ 1,096,166 $ 4,585,841 (A) Net of purchase price adjustments and purchase price fully reimbursable from MSR sellers as a result of prepayment protection. (B) Represents MSRs previously accounted for as MSR Financing Receivables. As a result of the length of the initial term of the related subservicing agreement between NRM and PHH, although the MSRs were legally sold, solely for accounting purposes, the purchase agreement was not treated as a sale under GAAP through June 30, 2019. (C) Represents Ginnie Mae MSRs repurchased. (D) Represents MSRs retained on the sale of originated mortgage loans. (E) Based on the ratio of the current UPB of the underlying residential mortgage loans relative to the original UPB of the underlying residential mortgage loans. (F) Includes changes in inputs or assumptions used in the valuation model. (G) Represents MSRs previously accounted for as MSR Financing Receivables. As a result of the length of prepayment protection between NRM and MSR sellers, although the MSRs were legally sold, solely for accounting purposes, the purchase agreement was not treated as a sale under GAAP through June 30, 2020. The following is a summary of New Residential’s MSRs and MSR Financing Receivables as of December 31, 2020 and 2019: UPB of Underlying Mortgages Weighted Average Life (Years) (A) Carrying Value (B) 2020 MSRs: Agency (C) $ 300,200,826 5.1 $ 2,799,728 Non-Agency 5,962,225 4.2 17,512 Ginnie Mae 57,106,825 4.1 672,435 MSR Financing Receivables: Agency (C) 5,517,730 5.2 49,275 Non-Agency 66,648,221 8.0 1,046,891 Total $ 435,435,827 5.4 $ 4,585,841 2019 MSRs: Agency (C) $ 315,427,933 5.1 $ 3,319,035 Non-Agency 6,402,833 5.4 20,283 Ginnie Mae 52,019,295 4.6 628,642 MSR Financing Receivables: Agency (C) 54,866,978 4.7 547,351 Non-Agency 76,117,892 7.6 1,170,922 Total $ 504,834,931 5.4 $ 5,686,233 (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) Carrying Value represents fair value. As of December 31, 2020 and 2019, weighted average discount rates of 7.7% (range of 7.3%-13.0%) and 7.8%, respectively, were used to value New Residential’s MSRs, respectively. As of December 31, 2020 and 2019, weighted average discount rates of 9.4% (range of 7.4%-9.5%) and 8.9%, respectively, were used to value New Residential’s MSR Financing Receivables. (C) Represents Fannie Mae and Freddie Mac MSRs.
Servicing Asset at Amortized Cost	The following is a summary of New Residential’s direct investments in Excess MSRs: December 31, 2020 UPB of Underlying Mortgages Interest in Excess MSR Weighted Average Life Years (A) Amortized Cost Basis (B) Carrying Value (C) New Residential (D) Fortress-managed funds Mr. Cooper Agency Original and Recaptured Pools $ 34,593,406 32.5% - 66.7% (53.3%) —% - 40.0% 20.0% - 35.0% 5.9 $ 141,204 $ 162,645 Non-Agency (E) Mr. Cooper and SLS Serviced: Original and Recaptured Pools 38,095,499 33.3% - 100.0% (59.4%) —% - 50.0% —% - 33.3% 6.5 109,697 148,293 Total $ 72,688,905 $ 250,901 $ 310,938 December 31, 2019 UPB of Underlying Mortgages Interest in Excess MSR Weighted Average Life Years (A) Amortized Cost Basis (B) Carrying Value (C) New Residential (D) Fortress-managed funds Mr. Cooper Agency Original and Recaptured Pools $ 43,310,917 32.5% - 66.7% (53.3)% —% - 40.0% 20.0% - 35.0% 5.5 $ 178,603 $ 209,633 Non-Agency (E) Mr. Cooper and SLS Serviced: Original and Recaptured Pools 45,034,320 33.3% - 100.0% (59.4)% —% - 50.0% —% - 33.3% 6.5 124,875 170,114 Total $ 88,345,237 $ 303,478 $ 379,747 (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) The amortized cost basis of the recapture agreements is determined based on the relative fair values of the recapture agreements and related Excess MSRs at the time they were acquired. (C) Carrying Value represents the fair value of the pools and recapture agreements, as applicable. (D) Amounts in parentheses represent weighted averages.
Summary of the Financial Results of Excess MSR Joint Ventures, Accounted for as Equity Method Investees	The following tables summarize the financial results of the Excess MSR joint ventures, accounted for as equity method investees, held by New Residential: December 31, 2020 2019 Excess MSR assets $ 179,762 $ 226,843 Other assets 20,759 25,035 Other liabilities (687) (687) Equity $ 199,834 $ 251,191 New Residential’s investment $ 99,917 $ 125,596 New Residential’s percentage ownership 50.0 % 50.0 % Year Ended December 31, 2020 2019 2018 Interest income $ 22,507 $ 23,872 $ 26,363 Other income (loss) (29,461) (10,208) (9,649) Expenses (24) (64) — Net income $ (6,978) $ 13,600 $ 16,714 The following table summarizes the activity of New Residential’s investments in equity method investees: December 31, 2020 2019 Balance at beginning of period $ 125,596 $ 147,964 Contributions to equity method investees — — Distributions of earnings from equity method investees (1,170) (8,999) Distributions of capital from equity method investees (21,020) (20,169) Change in fair value of investments in equity method investees (3,489) 6,800 Balance at end of period $ 99,917 $ 125,596
Summary of Excess MSR Investments made through Equity Method Investees	The following is a summary of New Residential’s Excess MSR investments made through equity method investees: December 31, 2020 Unpaid Principal Balance Investee Interest in Excess MSR (A) New Residential Interest in Investees Amortized Cost Basis (B) Carrying Value (C) Weighted Average Life (Years) (D) Agency Original and Recaptured Pools $ 28,453,512 66.7% 50.0% $ 139,251 $ 179,762 5.8 December 31, 2019 Unpaid Principal Balance Investee Interest in Excess MSR (A) New Residential Interest in Investees Amortized Cost Basis (B) Carrying Value (C) Weighted Average Life (Years) (D) Agency Original and Recaptured Pools $ 33,592,554 66.7% 50.0% $ 168,807 $ 226,843 5.4 (A) The remaining interests are held by Mr. Cooper. (B) Represents the amortized cost basis of the equity method investees in which New Residential holds a 50% interest. The amortized cost basis of the recapture agreements is determined based on the relative fair values of the recapture agreements and related Excess MSRs at the time they were acquired. (C) Represents the carrying value of the Excess MSRs held in equity method investees, in which New Residential holds a 50% interest. Carrying value represents the fair value of the pools and recapture agreements, as applicable. (D) Represents the weighted average expected timing of the receipt of cash flows of each investment.

MORTGAGE SERVICING RIGHTS AND_2

MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES (Tables)	12 Months Ended
	Dec. 31, 2020
Transfers and Servicing [Abstract]
Schedule of Activity Related to the Carrying Value of Investments in Excess MSRs	The table below summarizes the components of excess mortgage servicing rights assets as presented on the consolidated balance sheets: Year Ended December 31, 2020 2019 Direct investments in Excess MSRs $ 310,938 $ 379,747 Excess MSR Joint Ventures 99,917 125,596 Excess mortgage servicing rights assets, at fair value $ 410,855 $ 505,343 The following table presents activity related to the carrying value of New Residential’s direct investments in Excess MSRs: Servicer Mr. Cooper SLS (A) Total Balance as of December 31, 2018 $ 445,328 $ 2,532 $ 447,860 Interest income 32,587 60 32,647 Other income 3,851 — 3,851 Proceeds from repayments (83,612) (419) (84,031) Proceeds from sales (10,075) — (10,075) Change in fair value (10,387) (118) (10,505) Balance as of December 31, 2019 377,692 2,055 379,747 Interest income 28,217 135 28,352 Other income (12,123) — (12,123) Proceeds from repayments (67,340) (405) (67,745) Proceeds from sales (1,061) — (1,061) Change in fair value (16,376) 144 (16,232) Balance as of December 31, 2020 $ 309,009 $ 1,929 $ 310,938 (A) Specialized Loan Servicing LLC (“SLS”). Changes in fair value recorded in other income is composed of the following: Year Ended December 31, 2020 2019 2018 Original and Recaptured Pools $ (16,232) $ (10,505) $ (58,656) The following table presents activity related to the carrying value of New Residential’s MSRs and MSR Financing Receivables: MSRs MSR Financing Receivables Total Balance as of December 31, 2018 $ 2,884,100 $ 1,644,504 $ 4,528,604 Purchases, net (A) 678,424 652,902 1,331,326 Transfers (B) 367,121 (367,121) — Other transfers (C) (410) — (410) Ditech Acquisition (Note 3) 387,170 — 387,170 Originations (D) 374,450 — 374,450 Proceeds from sales (1,539) (22,989) (24,528) Change in fair value due to: Realization of cash flows (E) (537,111) (203,732) (740,843) Change in valuation inputs and assumptions (F) (187,530) 21,094 (166,436) (Gain) loss realized 3,285 (6,385) (3,100) Balance as of December 31, 2019 $ 3,967,960 $ 1,718,273 $ 5,686,233 Purchases, net (A) 449,875 (18,267) 431,608 Transfers (G) 320,613 (320,613) — Originations (D) 666,414 — 666,414 Proceeds from sales (11,282) (4,059) (15,341) Change in fair value due to: Realization of cash flows (E) (1,369,607) (222,674) (1,592,281) Change in valuation inputs and assumptions (F) (536,694) (54,745) (591,439) (Gain) loss realized 2,396 (1,749) 647 Balance as of December 31, 2020 $ 3,489,675 $ 1,096,166 $ 4,585,841 (A) Net of purchase price adjustments and purchase price fully reimbursable from MSR sellers as a result of prepayment protection. (B) Represents MSRs previously accounted for as MSR Financing Receivables. As a result of the length of the initial term of the related subservicing agreement between NRM and PHH, although the MSRs were legally sold, solely for accounting purposes, the purchase agreement was not treated as a sale under GAAP through June 30, 2019. (C) Represents Ginnie Mae MSRs repurchased. (D) Represents MSRs retained on the sale of originated mortgage loans. (E) Based on the ratio of the current UPB of the underlying residential mortgage loans relative to the original UPB of the underlying residential mortgage loans. (F) Includes changes in inputs or assumptions used in the valuation model. (G) Represents MSRs previously accounted for as MSR Financing Receivables. As a result of the length of prepayment protection between NRM and MSR sellers, although the MSRs were legally sold, solely for accounting purposes, the purchase agreement was not treated as a sale under GAAP through June 30, 2020. The following is a summary of New Residential’s MSRs and MSR Financing Receivables as of December 31, 2020 and 2019: UPB of Underlying Mortgages Weighted Average Life (Years) (A) Carrying Value (B) 2020 MSRs: Agency (C) $ 300,200,826 5.1 $ 2,799,728 Non-Agency 5,962,225 4.2 17,512 Ginnie Mae 57,106,825 4.1 672,435 MSR Financing Receivables: Agency (C) 5,517,730 5.2 49,275 Non-Agency 66,648,221 8.0 1,046,891 Total $ 435,435,827 5.4 $ 4,585,841 2019 MSRs: Agency (C) $ 315,427,933 5.1 $ 3,319,035 Non-Agency 6,402,833 5.4 20,283 Ginnie Mae 52,019,295 4.6 628,642 MSR Financing Receivables: Agency (C) 54,866,978 4.7 547,351 Non-Agency 76,117,892 7.6 1,170,922 Total $ 504,834,931 5.4 $ 5,686,233 (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) Carrying Value represents fair value. As of December 31, 2020 and 2019, weighted average discount rates of 7.7% (range of 7.3%-13.0%) and 7.8%, respectively, were used to value New Residential’s MSRs, respectively. As of December 31, 2020 and 2019, weighted average discount rates of 9.4% (range of 7.4%-9.5%) and 8.9%, respectively, were used to value New Residential’s MSR Financing Receivables. (C) Represents Fannie Mae and Freddie Mac MSRs.
Fees Earned in Exchange for Servicing Financial Assets	Servicing revenue, net recognized by New Residential related to its MSRs comprises the following: Year Ended December 31, 2020 2019 2018 Servicing fee revenue $ 1,224,060 $ 899,623 $ 589,546 Ancillary and other fees 110,640 198,486 130,294 Servicing fee revenue and fees 1,334,700 1,098,109 719,840 Change in fair value due to: Realization of cash flows (A) (1,360,954) (530,031) (256,915) Change in valuation inputs and assumptions (B) (C) (531,183) (186,204) 68,587 (Gain) loss realized 2,396 3,285 (2,917) Servicing revenue, net $ (555,041) $ 385,159 $ 528,595 (A) Includes $8.7 million, $7.1 million and $1.2 million of fair value adjustment due to realization of cash flows to Excess spread financing for the years ended December 31, 2020, 2019, and 2018, respectively. (B) Includes changes in inputs or assumptions used in the valuation model. (C) Includes $5.5 million, $1.3 million and $7.4 million of fair value adjustment due to changes in valuation inputs and assumptions to Excess spread financing for the years ended December 31, 2020, 2019, and 2018, respectively. Interest income from MSR Financing Receivables was composed of the following: Year Ended December 31, 2020 2019 2018 Servicing fee revenue $ 384,260 $ 513,172 $ 705,812 Ancillary and other fees 74,421 119,570 146,829 Less: subservicing expense (151,109) (196,726) (251,184) Interest income, MSR financing receivables $ 307,572 $ 436,016 $ 601,457 Change in fair value of MSR Financing Receivables was composed of the following: Year Ended December 31, 2020 2019 2018 Realization of cash flows $ (222,674) $ (203,732) $ (197,703) Change in valuation inputs and assumptions (A) (54,745) 21,094 230,036 (Gain) loss realized (1,749) (6,385) (783) Change in fair value of MSR financing receivables $ (279,168) $ (189,023) $ 31,550
Summary of the Geographic Distribution of the Underlying Residential Mortgage Loans of the Direct Investment in MSRs	The table below summarizes the geographic distribution of the underlying residential mortgage loans of the MSRs and MSR Financing Receivables: Percentage of Total Outstanding Unpaid Principal Amount State Concentration December 31, 2020 December 31, 2019 California 21.2 % 21.9 % Florida 7.4 % 6.9 % New York 7.0 % 6.4 % Texas 5.6 % 5.5 % New Jersey 4.8 % 4.9 % Illinois 3.6 % 3.6 % Massachusetts 3.4 % 3.4 % Georgia 3.3 % 3.1 % Pennsylvania 3.1 % 3.0 % Maryland 3.1 % 3.0 % Other U.S. 37.5 % 38.3 % 100.0 % 100.0 %
Schedule of Investment in Servicer Advances	The following types of advances are included in the Servicer Advances Receivable: December 31, 2020 2019 Principal and interest advances $ 665,538 $ 823,860 Escrow advances (taxes and insurance advances) 1,547,796 1,666,792 Foreclosure advances 816,400 760,593 Total (A)(B)(C) $ 3,029,734 $ 3,251,245 (A) Includes $583.9 million and $562.2 million of servicer advances receivable related to Agency MSRs, respectively, recoverable either from the borrower or the Agencies. (B) Includes $181.2 million and $166.5 million of servicer advances receivable related to Ginnie Mae MSRs, respectively, recoverable from either the borrower or Ginnie Mae. Expected losses for advances associated with Ginnie Mae loans in the MSR portfolio are considered in the MSR fair valuation through a non reimbursable advance loss assumption. (C) Net of $27.5 million and $50.1 million, respectively, in unamortized advance discount and reserves, net of accruals for advance recoveries. These reserves relate to inactive loans in the foreclosure or liquidation process. The following is a summary of New Residential’s Servicer Advance Investments, including the right to the basic fee component of the related MSRs: Amortized Cost Basis Carrying Value (A) Weighted Average Discount Rate Weighted Average Yield Weighted Average Life (Years) (B) December 31, 2020 Servicer Advance Investments $ 512,958 $ 538,056 5.2 % 5.7 % 6.0 December 31, 2019 Servicer Advance Investments $ 557,444 $ 581,777 5.3 % 5.7 % 6.3 (A) Carrying value represents the fair value of the Servicer Advance Investments, including the basic fee component of the related MSRs. (B) Weighted Average Life represents the weighted average expected timing of the receipt of expected net cash flows for this investment. The following is additional information regarding the Servicer Advance Investments and related financing: Loan-to-Value (“LTV”) (A) Cost of Funds (C) UPB of Underlying Residential Mortgage Loans Outstanding Servicer Advances Servicer Advances to UPB of Underlying Residential Mortgage Loans Face Amount of Secured Notes and Bonds Payable Gross Net (B) Gross Net December 31, 2020 Servicer Advance Investments (D) $ 26,061,499 $ 449,150 1.7 % $ 423,144 88.4 % 88.6 % 1.5 % 1.3 % December 31, 2019 Servicer Advance Investments (D) $ 31,442,267 $ 462,843 1.5 % $ 443,248 88.3 % 87.2 % 3.4 % 2.8 % (A) Based on outstanding servicer advances, excluding purchased but unsettled servicer advances. (B) Ratio of face amount of borrowings to par amount of servicer advance collateral, net of any general reserve. (C) Annualized measure of the cost associated with borrowings. Gross Cost of Funds primarily includes interest expense and facility fees. Net Cost of Funds excludes facility fees. (D) The following types of advances are included in the Servicer Advance Investments: December 31, 2020 2019 Principal and interest advances $ 84,976 $ 71,574 Escrow advances (taxes and insurance advances) 186,426 180,047 Foreclosure advances 177,748 211,222 Total $ 449,150 $ 462,843

SERVICER ADVANCE INVESTMENTS (T

SERVICER ADVANCE INVESTMENTS (Tables)	12 Months Ended
SERVICER ADVANCE INVESTMENTS (Tables)	Dec. 31, 2020
Investments, All Other Investments [Abstract]
Schedule of Investment in Servicer Advances	The following types of advances are included in the Servicer Advances Receivable: December 31, 2020 2019 Principal and interest advances $ 665,538 $ 823,860 Escrow advances (taxes and insurance advances) 1,547,796 1,666,792 Foreclosure advances 816,400 760,593 Total (A)(B)(C) $ 3,029,734 $ 3,251,245 (A) Includes $583.9 million and $562.2 million of servicer advances receivable related to Agency MSRs, respectively, recoverable either from the borrower or the Agencies. (B) Includes $181.2 million and $166.5 million of servicer advances receivable related to Ginnie Mae MSRs, respectively, recoverable from either the borrower or Ginnie Mae. Expected losses for advances associated with Ginnie Mae loans in the MSR portfolio are considered in the MSR fair valuation through a non reimbursable advance loss assumption. (C) Net of $27.5 million and $50.1 million, respectively, in unamortized advance discount and reserves, net of accruals for advance recoveries. These reserves relate to inactive loans in the foreclosure or liquidation process. The following is a summary of New Residential’s Servicer Advance Investments, including the right to the basic fee component of the related MSRs: Amortized Cost Basis Carrying Value (A) Weighted Average Discount Rate Weighted Average Yield Weighted Average Life (Years) (B) December 31, 2020 Servicer Advance Investments $ 512,958 $ 538,056 5.2 % 5.7 % 6.0 December 31, 2019 Servicer Advance Investments $ 557,444 $ 581,777 5.3 % 5.7 % 6.3 (A) Carrying value represents the fair value of the Servicer Advance Investments, including the basic fee component of the related MSRs. (B) Weighted Average Life represents the weighted average expected timing of the receipt of expected net cash flows for this investment. The following is additional information regarding the Servicer Advance Investments and related financing: Loan-to-Value (“LTV”) (A) Cost of Funds (C) UPB of Underlying Residential Mortgage Loans Outstanding Servicer Advances Servicer Advances to UPB of Underlying Residential Mortgage Loans Face Amount of Secured Notes and Bonds Payable Gross Net (B) Gross Net December 31, 2020 Servicer Advance Investments (D) $ 26,061,499 $ 449,150 1.7 % $ 423,144 88.4 % 88.6 % 1.5 % 1.3 % December 31, 2019 Servicer Advance Investments (D) $ 31,442,267 $ 462,843 1.5 % $ 443,248 88.3 % 87.2 % 3.4 % 2.8 % (A) Based on outstanding servicer advances, excluding purchased but unsettled servicer advances. (B) Ratio of face amount of borrowings to par amount of servicer advance collateral, net of any general reserve. (C) Annualized measure of the cost associated with borrowings. Gross Cost of Funds primarily includes interest expense and facility fees. Net Cost of Funds excludes facility fees. (D) The following types of advances are included in the Servicer Advance Investments: December 31, 2020 2019 Principal and interest advances $ 84,976 $ 71,574 Escrow advances (taxes and insurance advances) 186,426 180,047 Foreclosure advances 177,748 211,222 Total $ 449,150 $ 462,843
Schedule of Interest Income Related to Investments in Servicer Advances	Interest income recognized by New Residential related to its Servicer Advance Investments was composed of the following: Year Ended December 31, 2020 2019 2018 Interest income, gross of amounts attributable to servicer compensation $ 34,262 $ 51,940 $ 83,807 Amounts attributable to basic servicer compensation (3,248) (6,209) (8,491) Amounts attributable to incentive servicer compensation (12,832) (18,065) (25,098) Interest income from Servicer Advance Investments $ 18,182 $ 27,666 $ 50,218 Net Interest Income December 31, 2020 2019 2018 Interest Income: Loans held-for-investment, at fair value $ 53,264 $ 60,301 $ 76,129 Loans held-for-sale, at lower of cost or fair value 50,130 65,926 45,653 Loans held-for-sale, at fair value 135,729 175,926 51,562 Total interest income 239,123 302,153 173,344 Interest Expense: Loans held-for-investment, at fair value 21,029 19,381 23,618 Loans held-for-sale, at lower of cost or fair value 22,541 40,067 35,796 Loans held-for-sale, at fair value 90,064 109,723 24,186 Total interest expense 133,634 169,171 83,600 Net interest income $ 105,489 $ 132,982 $ 89,744

REAL ESTATE AND OTHER SECURIT_2

REAL ESTATE AND OTHER SECURITIES (Tables)	12 Months Ended
REAL ESTATE AND OTHER SECURITIES (Tables)	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Summary of Real Estate Securities	Activities related to New Residential’s real estate and other securities were as follows (amounts in millions): Year Ended December 31, 2020 2019 Agency Non-Agency Agency Non-Agency Purchases Face $ 21,593.3 $ 5,083.1 $ 33,573.5 $ 14,960.4 Purchase Price 22,290.3 575.0 34,335.5 2,059.0 Sales Face $ 19,321.7 $ 8,450.1 $ 22,746.3 $ 2,936.2 Amortized Cost 19,666.2 6,242.0 23,337.8 1,852.1 Sale Price 19,886.8 5,288.5 23,449.2 1,949.3 Gain (Loss) on Sale 220.5 (953.5) 111.4 97.2 The following is a summary of New Residential’s real estate and other securities: Gross Unrealized Weighted Average Asset Type Outstanding Face Amount Amortized Cost Basis Gains Losses Carrying Value (A) Number of Securities Rating (B) Coupon (C) Yield Life (Years) (D) Principal Subordination (E) December 31, 2020 Agency RMBS $ 110,360 $ 111,149 $ 10,612 $ — $ 121,761 $ 1 AAA 3.5 % 3.5 % 5.9 — Agency RMBS at FVO 12,380,792 12,840,459 101,414 — 12,941,873 57 AAA 2.2 % 2.2 % 4.3 — Total Agency RMBS (F)(G) 12,491,152 12,951,608 112,026 — 13,063,634 58 AAA 2.2 % 2.2 % 4.3 — Non-Agency RMBS (H)(I) 19,378,530 1,153,643 88,098 (60,817) 1,180,924 589 AA 2.8 % 4.1 % 4.8 19.6 % Total/Weighted Average $ 31,869,682 $ 14,105,251 $ 200,124 $ (60,817) $ 14,244,558 647 AAA 2.3 % 2.4 % 4.3 December 31, 2019 Agency RMBS (F)(G) $ 11,301,603 $ 11,474,338 $ 57,221 $ (11,616) $ 11,519,943 43 AAA 3.2 % 2.8 % 6.0 N/A Non-Agency RMBS (H)(I) 24,857,988 7,307,837 689,158 (39,210) 7,957,785 997 B+ 2.9 % 4.7 % 7.0 11.0 % Total/Weighted Average $ 36,159,591 $ 18,782,175 $ 746,379 $ (50,826) $ 19,477,728 1,040 A+ 3.0 % 3.5 % 6.4 (A) Fair value, which is equal to carrying value for all securities. See Note 13 regarding the estimation of fair value. (B) Represents the weighted average of the ratings of all securities in each asset type, expressed as an S&P equivalent rating. This excludes the ratings of the collateral underlying 289 bonds with a carrying value of $432.5 million which either have never been rated or for which rating information is no longer provided. For each security rated by multiple rating agencies, the lowest rating is used. New Residential used an implied AAA rating for the Agency RMBS. Ratings provided were determined by third party rating agencies, and represent the most recent credit ratings available as of the reporting date and may not be current. (C) Excludes residual bonds, and certain other Non-Agency bonds, with a carrying value of $27.4 million and $2.6 million, respectively, for which no coupon payment is expected. (D) The weighted average life is based on the timing of expected principal reduction on the assets. (E) Percentage of the amortized cost basis of securities that is subordinate to New Residential’s investments, excluding fair value option securities. (F) Includes securities issued or guaranteed by U.S. Government agencies such as Fannie Mae or Freddie Mac. (G) The total outstanding face amount was $12.5 billion and $11.3 billion for fixed rate securities and $0.0 billion and $0.0 billion for floating rate securities as of December 31, 2020 and 2019, respectively. (H) The total outstanding face amount was $11.9 billion (including $10.9 billion of residual and fair value option notional amount) and $5.4 billion (including $3.2 billion of residual and fair value option notional amount) for fixed rate securities and $7.5 billion (including $7.2 billion of residual and fair value option notional amount) and $19.5 billion (including $12.2 billion of residual and fair value option notional amount) for floating rate securities as of December 31, 2020 and 2019, respectively. (I) Includes other asset backed securities (“ABS”) consisting primarily of (i) interest-only securities and servicing strips (fair value option securities) which New Residential elected to carry at fair value and record changes to valuation through the income statement, (ii) bonds backed by consumer loans and (iii) corporate debt. Gross Unrealized Weighted Average Asset Type Outstanding Face Amount Amortized Cost Basis Gains Losses Carrying Value Number of Securities Rating Coupon Yield Life (Years) Principal Subordination December 31, 2020 Corporate debt $ 500 $ 500 $ 23 $ — $ 523 1 B- 8.25 % 8.25 % 4.3 N/A Consumer loan bonds 13,022 12,360 503 — 12,862 6 N/A N/A N/A — N/A Fair value option securities Interest-only securities 9,457,488 248,253 6,600 (43,781) 211,073 124 AA+ 1.22 % 5.09 % 2.1 N/A Servicing strips 4,979,723 49,989 5,865 (9,476) 46,378 58 N/A 0.42 % 8.38 % 3.9 N/A December 31, 2019 Corporate debt $ 85,000 $ 85,000 $ — $ (1,262) $ 83,738 1 B- 8.25 % 8.25 % 5.3 N/A Consumer loan bonds 25,029 25,688 521 (6,190) 20,019 6 N/A N/A N/A 1.6 N/A MSR bond — — — — — — N/A — % — % — N/A Fair value option securities Interest-only securities 11,201,646 308,714 35,882 (19,459) 325,137 124 AA+ 1.37 % 10.49 % 2.9 N/A Servicing strips 4,073,792 40,043 2,431 (4,562) 37,912 46 N/A 0.38 % 4.01 % 5.7 N/A
Summary of Real Estate Securities in an Unrealized Loss Position	The following table summarizes New Residential’s securities in an unrealized loss position as of December 31, 2020. Amortized Cost Basis Weighted Average Securities in an Unrealized Loss Position Outstanding Face Amount Before Credit Impairment Credit Impairment (A) After Credit Impairment Gross Unrealized Losses Carrying Value Number of Securities Rating Coupon Yield Life Less than 12 Months $ 7,134,953 $ 217,955 $ (1,776) $ 216,179 $ (28,594) $ 187,585 61 AA+ 2.29 % 4.58 % 5.5 12 or More Months 4,063,623 143,681 (6,896) 136,785 (32,223) 104,562 80 AA+ 1.56 % 1.76 % 4.2 Total/Weighted Average $ 11,198,576 $ 361,636 $ (8,672) $ 352,964 $ (60,817) $ 292,147 141 AA+ 2.00 % 3.49 % 5.0 (A) Represents credit impairment on securities in an unrealized loss position as of December 31, 2020. New Residential performed an assessment of all debt securities that are in an unrealized loss position (an unrealized loss position exists when a security’s amortized cost basis, excluding the effect of credit impairment, exceeds its fair value) and determined the following: December 31, 2020 December 31, 2019 Gross Unrealized Losses Gross Unrealized Losses Fair Value Amortized Cost Basis After Credit Impairment Credit (A) Non-Credit (B) Fair Value Amortized Cost Basis After Credit Impairment Credit (A) Non-Credit (B) Securities New Residential intends to sell — — — — $ — $ — $ — $ — Securities New Residential is more likely than not to be required to sell (C) — — — — — — — N/A Securities New Residential has no intent to sell and is not more likely than not to be required to sell: Credit impaired securities 21,326 21,326 (8,672) — 228,228 237,626 (3,232) (9,398) Non-credit impaired securities 270,821 331,638 — (60,817) 4,726,409 4,767,837 — (41,428) Total debt securities in an unrealized loss position $ 292,147 $ 352,964 $ (8,672) $ (60,817) $ 4,954,637 $ 5,005,463 $ (3,232) $ (50,826) (A) This amount is required to be recorded through earnings. In measuring the portion of credit losses, New Residential estimates the expected cash flow for each of the securities. This evaluation included a review of the credit status and the performance of the collateral supporting those securities, including the credit of the issuer, key terms of the securities and the effect of local, industry and broader economic trends. Significant inputs in estimating the cash flows included New Residential’s expectations of prepayment rates, default rates and loss severities. Credit losses were measured as the decline in the present value of the expected future cash flows discounted at the security’s effective interest rate. (B) This amount represents unrealized losses on securities that are due to non-credit factors and recorded through other comprehensive income. (C) New Residential may, at times, be more likely than not to be required to sell certain securities for liquidity purposes. While the amount of the securities to be sold may be an estimate, and the securities to be sold have not yet been identified, New Residential must make its best estimate, which is subject to significant judgment regarding future events, and may differ materially from actual future sales.
Summary of Activity Related to Credit Losses on Debt Securities	The following table summarizes the activity related to credit losses on debt securities: Year Ended December 31, 2019 2018 Beginning balance of credit losses on debt securities for which a portion of an other-than-temporary impairment was recognized in other comprehensive income $ 52,803 $ 23,821 Increases to credit losses on securities for which an other-than-temporary impairment was previously recognized and a portion of an other-than-temporary impairment was recognized in other comprehensive income 23,059 16,924 Additions for credit losses on securities for which an other-than-temporary impairment was not previously recognized 2,115 13,093 Reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis — — Reduction for credit losses on securities for which no other-than-temporary impairment was recognized in other comprehensive income at the current measurement date — — Reduction for securities sold/paid off during the period (18,914) (1,035) Ending balance of credit losses on debt securities for which a portion of an other-than-temporary impairment was recognized in other comprehensive income $ 59,063 $ 52,803
Summary of the Geographic Distribution of the Collateral Securing Non-Agency RMBS	The table below summarizes the geographic distribution of the collateral securing New Residential’s Non-Agency RMBS: December 31, 2020 2019 Geographic Location (A) Outstanding Face Amount Percentage of Total Outstanding Outstanding Face Amount Percentage of Total Outstanding Western U.S. $ 6,543,524 33.7 % $ 9,048,847 36.6 % Southeastern U.S. 5,089,592 26.3 % 5,983,966 24.2 % Northeastern U.S. 4,484,340 23.2 % 5,416,137 21.9 % Midwestern U.S. 2,207,783 11.4 % 2,562,269 10.4 % Southwestern U.S. 1,025,637 5.3 % 1,440,467 5.8 % Other (B) 14,132 0.1 % 296,273 1.1 % $ 19,365,008 100.0 % $ 24,747,959 100.0 % (A) Excludes $13.0 million and $25.0 million face amount of bonds backed by consumer loans and $0.5 million and $85.0 million face amount of bonds backed by corporate debt as of December 31, 2020 and 2019, respectively. (B) Represents collateral for which New Residential was unable to obtain geographic information.
Schedule of the Outstanding Face Amount and Carrying Value for Securities Uncollectible	The following is the outstanding face amount and carrying value for securities, for which, as of the acquisition date, it was probable that New Residential would be unable to collect all contractually required payments, excluding residual and fair value option securities: Outstanding Face Amount Carrying Value December 31, 2020 $ 727,216 $ 280,876 December 31, 2019 5,701,736 3,830,369
Summary of Changes in Accretable Yield for Securities	The following is a summary of the changes in accretable yield for these securities: Year Ended December 31, 2020 2019 Beginning Balance $ 1,882,477 $ 2,245,984 Additions 76,960 407,864 Accretion (60,868) (239,682) Reclassifications from (to) non-accretable difference (167,793) (233,683) Disposals (1,541,214) (298,006) Ending Balance $ 189,562 $ 1,882,477

RESIDENTIAL MORTGAGE LOANS (Tab

RESIDENTIAL MORTGAGE LOANS (Tables)	12 Months Ended
RESIDENTIAL MORTGAGE LOANS (Tables)	Dec. 31, 2020
Receivables [Abstract]
Schedule of Residential Mortgage Loans Outstanding by Loan Type, Excluding REO	The following table presents certain information regarding New Residential’s residential mortgage loans outstanding by loan type: December 31, 2020 2,019 Outstanding Face Amount Carrying Loan Weighted Average Yield Weighted Average Life (Years) (A) Carrying Value Total residential mortgage loans, held-for-investment (B) $ 769,348 $ 674,179 12,353 6.6 % 5.6 925,706 Acquired reverse mortgage loans (C) $ 12,007 $ 5,884 28 7.8 % 3.8 5,844 Acquired performing loans (D)(F) 138,109 129,345 3,278 6.7 % 4.5 857,821 Acquired non-performing loans (E)(F) 487,022 374,658 3,253 7.5 % 3.3 565,387 Total residential mortgage loans, held-for-sale, at lower of cost or market $ 637,138 $ 509,887 6,559 7.3 % 3.6 1,429,052 Acquired performing loans (D)(F) $ 1,446,457 $ 1,423,159 7,189 3.8 % 6.6 3,024,288 Acquired non-performing loans 428,079 335,544 2,798 7.5 % 3.3 0 Originated loans 2,801,297 2,947,113 10,797 2.8 % 27.7 1,589,324 Total residential mortgage loans, held-for-sale, at fair value $ 4,675,833 $ 4,705,816 20,784 3.5 % 18.9 4,613,612 Total residential mortgage loans, held-for-sale, at fair value/lower of cost or market $ 5,312,971 $ 5,215,703 6,042,664 (A) The weighted average life is based on the expected timing of the receipt of cash flows. (B) Residential mortgage loans, held-for-investment, at fair value is grouped and presented as part of Residential loans and variable interest entity consumer loans held-for-investment, at fair value on the Consolidated Balance Sheets. (C) Represents a 70% participation interest that New Residential holds in a portfolio of reverse mortgage loans. Mr. Cooper holds the other 30% interest and services the loans. The average loan balance outstanding based on total UPB was $0.6 million. Approximately 47.8% of these loans have reached a termination event. As a result of the termination event, each such loan has matured and the borrower can no longer make draws on these loans. (D) Performing loans are generally placed on nonaccrual status when principal or interest is 120 days or more past due. (E) As of December 31, 2020, New Residential has placed Non-Performing Loans, held-for-sale on nonaccrual status, except as described in (F) below. (F) Includes $798.1 million and $20.5 million UPB of Ginnie Mae EBO performing and non-performing loans, respectively, on accrual status as contractual cash flows are guaranteed by the FHA.
Summary of the Geographic Distribution of the Underlying Residential Mortgage Loans	The table below summarizes the geographic distribution of the underlying residential mortgage loans: Percentage of Total Outstanding Unpaid Principal Amount December 31, State Concentration 2020 2019 California 11.9 % 16.1 % New York 10.1 % 9.0 % Texas 7.1 % 7.1 % Florida 7.1 % 8.4 % Georgia 5.8 % 4.8 % New Jersey 4.2 % 4.2 % Illinois 3.5 % 3.6 % Pennsylvania 3.5 % 2.9 % Maryland 3.4 % 3.3 % Massachusetts 3.1 % 3.3 % Other U.S. 40.3 % 37.3 % 100.0 % 100.0 %
Schedule of Performing Loans Past Due	The following table summarizes the difference between the aggregate unpaid principal balance and the aggregate fair value of loans as of December 31, 2020: Days Past Due Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Balance 90 to 119 $ 71,567 $ 59,679 $ (11,888) 120+ 950,564 790,788 (159,776) $ 1,022,131 $ 850,467 $ (171,664) The following table provides past due information regarding New Residential’s Performing Loans, which is an important indicator of credit quality and the establishment of the allowance for credit losses: December 31, 2019 Days Past Due Delinquency Status (A) Current 86.5 % 30-59 7.0 % 60-89 2.7 % 90-119 (B) 0.7 % 120+ (C) 3.1 % 100.0 % (A) Represents the percentage of the total principal balance that corresponds to loans that are in each delinquency status. (B) Includes loans 90-119 days past due and still accruing interest because they are generally placed on nonaccrual status at 120 days or more past due. (C) Represents nonaccrual loans. The following table provides past due information regarding New Residential’s performing consumer loans, held-for-investment, which is an important indicator of credit quality and the establishment of the allowance for loan losses: December 31, 2019 Days Past Due Delinquency Status (A) Current 95.3 % 30-59 1.8 % 60-89 1.2 % 90-119 (B) 0.7 % 120+ (B) (C) 1.0 % 100.0 % (A) Represents the percentage of the total unpaid principal balance that corresponds to loans that are in each delinquency status. (B) Includes loans more than 90 days past due and still accruing interest. (C) Interest is accrued up to the date of charge-off at 180 days past due.
Schedule of Loans Held For Sale, Fair Value	The following table summarizes the activity for residential mortgage loans: Loans Held-for-Investment Loans Held-for-Sale, at Lower Cost or Fair Value Loans Held-for-Sale, at Fair Value Total Balance at December 31, 2018 $ 735,318 $ 932,480 $ 2,808,529 $ 4,476,327 Ditech Acquisition 381,039 — 618,297 999,336 Originations — — 19,512,072 19,512,072 Sales — (495,925) (25,538,105) (26,034,030) Purchases/additional fundings — 1,133,335 7,499,614 8,632,949 Proceeds from repayments (119,195) (184,783) (235,937) (539,915) Transfer of loans to other assets (A) — (10,154) (412) (10,566) Transfer of loans to real estate owned (20,710) (49,459) (4,155) (74,324) Transfers of loans to held for sale (80,659) — — (80,659) Transfer of loans from held-for-investment — 80,659 — 80,659 Accretion of loan discount and other amortization 28,702 28,702 Valuation provision on loans (2,927) 22,899 — 19,972 Fair value adjustments due to: — — — — Changes in instrument-specific credit risk 4,138 — (46,291) (42,153) Other factors — — — — Balance at December 31, 2019 $ 925,706 $ 1,429,052 $ 4,613,612 $ 6,968,370 Fair value adjustment due to fair value option (6,020) — — (6,020) Originations — — 61,684,462 61,684,462 Sales — (791,974) (64,692,996) (65,484,970) Purchases/additional fundings — 110,741 3,322,369 3,433,110 Proceeds from repayments (145,767) (99,845) (177,723) (423,335) Transfer of loans to other assets (A) — (3,449) (22,255) (25,704) Transfer of loans to real estate owned (6,754) (21,681) (7,035) (35,470) Transfers of loans to held for sale (62,274) — (62,274) Transfer of loans from held for investment — — 62,274 62,274 Valuation provision on loans — (112,957) — (112,957) Fair value adjustments due to: — — — — Changes in instrument-specific credit risk 27,036 — (12,323) 14,713 Other factors (57,748) — (64,569) (122,317) Balance at December 31, 2020 $ 674,179 $ 509,887 $ 4,705,816 $ 5,889,882 (A) Represents loans for which foreclosure has been completed and for which New Residential has made, or intends to make, a claim with the governmental agency that has guaranteed the loans that are recognized as claims receivable in Other Assets (Note 2). Performing Loans Balance at December 31, 2018 $ 591,253 Ditech Acquisition (C) 381,039 Purchases/additional fundings — Proceeds from repayments (102,340) Accretion of loan discount (premium) and other amortization (A) 12,661 Provision for loan losses (595) Transfer of loans to other assets (B) — Transfer of loans to real estate owned (6,223) Transfers of loans to held for sale (20,505) Fair value adjustment 4,138 Balance at December 31, 2019 $ 859,428 (A) Includes accelerated accretion of discount on loans paid in full and on loans transferred to other assets. (B) Represents loans for which foreclosure has been completed and for which New Residential has made, or intends to make, a claim with the governmental agency that has guaranteed the loans that are now recognized as claims receivable in Other Assets (Note 2). (C) As a result of the Ditech Acquisition, New Residential acquired the servicing on certain residual tranches of Non-Agency RMBS it already owned, and now consolidates the trusts.
Summary of Activities Related to the Valuation Provision on Reverse Mortgage Loans and Allowance for Loan Losses on Performing Loans Held-for-Investment	Activities related to the valuation and loss provision on reverse mortgage loans and allowance for loan losses on performing loans held-for-investment were as follows: Performing Loans Balance at December 31, 2018 $ — Provision for loan losses (A) 595 Charge-offs (B) (595) Balance at December 31, 2019 $ — (A) Based on an analysis of collective borrower performance, credit ratings of borrowers, loan-to-value ratios, estimated value of the underlying collateral, key terms of the loans and historical and anticipated trends in defaults and loss severities at a pool level. (B) Loans, other than PCD loans, are generally charged off or charged down to the net realizable value of the collateral (i.e., fair value less costs to sell), with an offset to the allowance for loan losses, when available information confirms that loans are uncollectible. Activities related to the allowance for loan losses on performing consumer loans, held-for-investment were as follows: Collectively Evaluated (A) Individually Impaired (B) Total Balance at December 31, 2018 $ 2,604 $ 2,064 $ 4,668 Provision (reversal) for loan losses 30,008 846 30,854 Net charge-offs (C) (32,057) — (32,057) Balance at December 31, 2019 $ 555 $ 2,910 $ 3,465 (A) Represents smaller-balance homogeneous loans that are not individually considered impaired and are evaluated based on an analysis of collective borrower performance, key terms of the loans and historical and anticipated trends in defaults and loss severities, and consideration of the unamortized acquisition discount. (B) Represents consumer loan modifications considered to be troubled debt restructurings (“TDRs”) as they provide concessions to borrowers, primarily in the form of interest rate reductions, who are experiencing financial difficulty. As of December 31, 2019, there was $18.0 million in UPB and $15.9 million in carrying value of consumer loans classified as TDRs. (C) Consumer loans, other than PCD loans, are charged off when available information confirms that loans are uncollectible, which is generally when they become 180 days past due. Charge-offs are presented net of $8.6 million in recoveries of previously charged-off UPB in 2020.
Summary of Activities Related to the Carrying Value of Reverse Mortgage Loans and Performing Loans and PCD Loans Held-for-Investment	Activities related to the carrying value of PCD loans held-for-investment were as follows: Balance at December 31, 2018 $ 144,065 Purchases/additional fundings — Sales — Proceeds from repayments (16,855) Accretion of loan discount and other amortization 16,041 (Allowance) reversal for loan losses (2,332) Transfer of loans to real estate owned (14,487) Transfer of loans to held-for-sale (60,154) Balance at December 31, 2019 $ 66,278 (A) An allowance represents the present value of cash flows expected at acquisition that are no longer expected to be collected. A reversal results from an increase to expected cash flows that reverses a prior allowance.
Summary of Changes in Accretable Yield	The following is a summary of the changes in accretable yield for these loans: Balance at December 31, 2018 $ 68,632 Additions — Accretion (16,041) Reclassifications from (to) non-accretable difference (A) 9,361 Disposals (B) (11,515) Transfer of loans to held-for-sale (C) (13,415) Balance at December 31, 2019 $ 37,022 (A) Represents a probable and significant increase (decrease) in cash flows previously expected to be uncollectible. (B) Includes sales of loans or foreclosures, which result in removal of the loan from the PCD loan pool at its carrying amount. (C) Represents loans not initially acquired with the intent to sell for which New Residential determined that it no longer has the intent to hold for the foreseeable future, or until maturity or payoff.
Schedule of Net Interest Income	Interest income recognized by New Residential related to its Servicer Advance Investments was composed of the following: Year Ended December 31, 2020 2019 2018 Interest income, gross of amounts attributable to servicer compensation $ 34,262 $ 51,940 $ 83,807 Amounts attributable to basic servicer compensation (3,248) (6,209) (8,491) Amounts attributable to incentive servicer compensation (12,832) (18,065) (25,098) Interest income from Servicer Advance Investments $ 18,182 $ 27,666 $ 50,218 Net Interest Income December 31, 2020 2019 2018 Interest Income: Loans held-for-investment, at fair value $ 53,264 $ 60,301 $ 76,129 Loans held-for-sale, at lower of cost or fair value 50,130 65,926 45,653 Loans held-for-sale, at fair value 135,729 175,926 51,562 Total interest income 239,123 302,153 173,344 Interest Expense: Loans held-for-investment, at fair value 21,029 19,381 23,618 Loans held-for-sale, at lower of cost or fair value 22,541 40,067 35,796 Loans held-for-sale, at fair value 90,064 109,723 24,186 Total interest expense 133,634 169,171 83,600 Net interest income $ 105,489 $ 132,982 $ 89,744
Schedule of Originated Mortgage Loans	Gain on originated mortgage loans, held-for-sale, net is summarized below: Year Ended December 31, 2020 2019 2018 Gain on loans originated and sold, net (A) $ 811,288 $ 53,554 $ 47,172 Gain (loss) on settlement of mortgage loan origination derivative instruments (B) (361,755) (53,374) 1,234 MSRs retained on transfer of loans (C) 666,414 374,450 35,311 Other (D) 49,270 27,564 3,977 Realized gain on sale of originated mortgage loans, net $ 1,165,217 $ 402,194 87,694 Change in fair value of loans 99,908 28,761 3,695 Change in fair value of interest rate lock commitments (Note 11) 249,183 26,151 23 Change in fair value of derivative instruments (Note 11) (115,216) 3,001 (5,347) Gain on originated mortgage loans, held-for-sale, net $ 1,399,092 $ 460,107 $ 86,065 (A) Includes loan origination fees of $1,658.6 million and $421.3 million in the years ended December 31, 2020 and 2019, respectively. (B) Represents settlement of forward securities delivery commitments utilized as an economic hedge for mortgage loans not included within forward loan sale commitments. (C) Represents the initial fair value of the capitalized mortgage servicing rights upon loan sales with servicing retained. (D) Includes fees for services associated with the loan origination process.

CONSUMER LOANS (Tables)

CONSUMER LOANS (Tables)	12 Months Ended
CONSUMER LOANS (Tables)	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments in Consumer Loan Equity Method Investees	The following table summarizes the investment in consumer loans, held-for-investment held by New Residential: Unpaid Principal Balance Interest in Consumer Loans Carrying Value Weighted Average Coupon Weighted Average Expected Life (Years) (A) Weighted Average Delinquency (B) December 31, 2020 Consumer Loan Companies Performing Loans $ 490,222 53.5 % $ 553,419 18.3 % 3.6 3.7 % Purchased Credit Deteriorated Loans (C) 127,899 53.5 % 129,513 14.1 % 3.5 7.4 % Other - Performing Loans 2,862 100.0 % 2,643 15.3 % 0.4 4.3 % Total Consumer Loans, held-for-investment $ 620,983 $ 685,575 17.4 % 3.6 4.4 % December 31, 2019 Consumer Loan Companies Performing Loans $ 644,676 53.5 % $ 682,310 18.8 % 4.0 4.7 % Purchased Credit Deteriorated Loans (C) 170,083 53.5 % 136,633 15.5 % 3.7 10.1 % Other - Performing Loans 9,158 100.0 % 8,602 15.1 % 0.7 6.1 % Total Consumer Loans, held-for-investment $ 823,917 $ 827,545 18.0 % 3.9 5.9 % (A) Represents the weighted average expected timing of the receipt of expected cash flows for this investment. (B) Represents the percentage of the total unpaid principal balance that is 30+ days delinquent. Delinquency status is the primary credit quality indicator as it provides early warning of borrowers who may be experiencing financial difficulties. (C) Includes loans with evidence of credit deterioration since origination where it is probable that New Residential will not collect all contractually required principal and interest payments, which are accounted for as PCD loans.
Schedule Of Consumer Loans, Held-For-Investment	The following table summarizes the past due status and difference between the aggregate unpaid principal balance and the aggregate fair value of consumer loans as of December 31, 2020: Days Past Due Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Balance Under 90 Days $ 611,978 $ 675,691 $ 63,713 90 days or more past due 9,005 9,884 879 Total $ 620,983 $ 685,575 $ 64,592
Schedule of Performing Loans Past Due	The following table summarizes the difference between the aggregate unpaid principal balance and the aggregate fair value of loans as of December 31, 2020: Days Past Due Unpaid Principal Balance Fair Value Fair Value Over (Under) Unpaid Principal Balance 90 to 119 $ 71,567 $ 59,679 $ (11,888) 120+ 950,564 790,788 (159,776) $ 1,022,131 $ 850,467 $ (171,664) The following table provides past due information regarding New Residential’s Performing Loans, which is an important indicator of credit quality and the establishment of the allowance for credit losses: December 31, 2019 Days Past Due Delinquency Status (A) Current 86.5 % 30-59 7.0 % 60-89 2.7 % 90-119 (B) 0.7 % 120+ (C) 3.1 % 100.0 % (A) Represents the percentage of the total principal balance that corresponds to loans that are in each delinquency status. (B) Includes loans 90-119 days past due and still accruing interest because they are generally placed on nonaccrual status at 120 days or more past due. (C) Represents nonaccrual loans. The following table provides past due information regarding New Residential’s performing consumer loans, held-for-investment, which is an important indicator of credit quality and the establishment of the allowance for loan losses: December 31, 2019 Days Past Due Delinquency Status (A) Current 95.3 % 30-59 1.8 % 60-89 1.2 % 90-119 (B) 0.7 % 120+ (B) (C) 1.0 % 100.0 % (A) Represents the percentage of the total unpaid principal balance that corresponds to loans that are in each delinquency status. (B) Includes loans more than 90 days past due and still accruing interest. (C) Interest is accrued up to the date of charge-off at 180 days past due.
Schedule of Carrying Value of Performing Consumer Loans	Activities related to the carrying value of consumer loans, held-for-investment, at fair value were as follows: Balance at December 31, 2019 827,545 Fair value adjustment due to fair value option 36,472 Additional fundings (A) 33,041 Proceeds from repayments (229,218) Accretion of loan discount and premium amortization, net 24,120 Fair value adjustments due to: Changes in instrument-specific credit risk 5,195 Other factors (11,580) Balance at December 31, 2020 $ 685,575 (A) Represents draws on consumer loans with revolving privileges. Activities related to the carrying value of performing consumer loans, held-for-investment were as follows: Performing Loans Balance at December 31, 2018 $ 889,285 Purchases — Additional fundings (A) 54,375 Proceeds from repayments (213,525) Accretion of loan discount and premium amortization, net 186 Gross charge-offs (38,563) Additions to the allowance for loan losses, net (846) Balance at December 31, 2019 $ 690,912 (A) Represents draws on consumer loans with revolving privileges.
Allowance for Credit Losses on Financing Receivables	Activities related to the valuation and loss provision on reverse mortgage loans and allowance for loan losses on performing loans held-for-investment were as follows: Performing Loans Balance at December 31, 2018 $ — Provision for loan losses (A) 595 Charge-offs (B) (595) Balance at December 31, 2019 $ — (A) Based on an analysis of collective borrower performance, credit ratings of borrowers, loan-to-value ratios, estimated value of the underlying collateral, key terms of the loans and historical and anticipated trends in defaults and loss severities at a pool level. (B) Loans, other than PCD loans, are generally charged off or charged down to the net realizable value of the collateral (i.e., fair value less costs to sell), with an offset to the allowance for loan losses, when available information confirms that loans are uncollectible. Activities related to the allowance for loan losses on performing consumer loans, held-for-investment were as follows: Collectively Evaluated (A) Individually Impaired (B) Total Balance at December 31, 2018 $ 2,604 $ 2,064 $ 4,668 Provision (reversal) for loan losses 30,008 846 30,854 Net charge-offs (C) (32,057) — (32,057) Balance at December 31, 2019 $ 555 $ 2,910 $ 3,465 (A) Represents smaller-balance homogeneous loans that are not individually considered impaired and are evaluated based on an analysis of collective borrower performance, key terms of the loans and historical and anticipated trends in defaults and loss severities, and consideration of the unamortized acquisition discount. (B) Represents consumer loan modifications considered to be troubled debt restructurings (“TDRs”) as they provide concessions to borrowers, primarily in the form of interest rate reductions, who are experiencing financial difficulty. As of December 31, 2019, there was $18.0 million in UPB and $15.9 million in carrying value of consumer loans classified as TDRs. (C) Consumer loans, other than PCD loans, are charged off when available information confirms that loans are uncollectible, which is generally when they become 180 days past due. Charge-offs are presented net of $8.6 million in recoveries of previously charged-off UPB in 2020.
Schedule of Carrying Value of Purchased Credit Deteriorated Loans	A portion of the consumer loans are considered PCD loans. Activities related to the carrying value of PCD consumer loans, held-for-investment were as follows: Balance at December 31, 2018 $ 182,917 (Allowance) reversal for loan losses (A) 31 Proceeds from repayments (78,519) Accretion of loan discount and other amortization 32,204 Balance at December 31, 2019 $ 136,633 (A) An allowance represents the present value of cash flows expected at acquisition that are no longer expected to be collected. A reversal results from an increase to expected cash flows that reverses a prior allowance.
Impaired Financing Receivables	The following is the unpaid principal balance and carrying value for consumer loans, for which, as of the acquisition date, it was probable that New Residential would be unable to collect all contractually required payments: Unpaid Principal Balance Carrying Value December 31, 2019 $ 170,083 $ 136,633
Schedule of Changes in Accretable Yield	The following is a summary of the changes in accretable yield for these loans: Balance at December 31, 2018 $ 126,518 Accretion (32,204) Reclassifications from (to) non-accretable difference (A) 10,949 Balance at December 31, 2019 $ 105,263 (A) Represents a probable and significant increase (decrease) in cash flows previously expected to be uncollectible.
Summary of the Investment in the Consumer Loan Companies	The following table summarizes the income earned from the Company’s investments in LoanCo and WarrantCo: Year Ended December 31, 2019 Interest income $ 19,912 Interest expense (6,487) Change in fair value of consumer loans and warrants (4,596) Gain on sale of consumer loans (B) (10,711) Other expenses (3,871) Net income $ (5,753) New Residential’s equity in net income $ (1,438) New Residential’s percentage ownership 25.0 % (A) Data as of, and for the periods ended, November 30, 2019, as a result of the one month reporting lag. (B) During the year ended December 31, 2019, LoanCo sold, through securitizations which were treated as sales for accounting purposes, $406.1 million in UPB of consumer loans. LoanCo retained $83.9 million of residual interest in the securitizations and distributed them to the LoanCo co-investors, including New Residential. New Residential’s investment in LoanCo and WarrantCo changed as follows: Balance at December 31, 2018 $ 38,294 Contributions to equity method investees 64,499 Distributions of earnings from equity method investees (8,607) Distributions of capital from equity method investees (92,748) Earnings from investments in consumer loans, equity method investees (1,438) Balance at December 31, 2019 $ —

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
DERIVATIVES (Tables)	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivatives	New Residential’s derivatives are recorded at fair value on the Consolidated Balance Sheets as follows: December 31, Balance Sheet Location 2020 2019 Derivative assets Interest Rate Swaps Other assets $ — $ 155 Interest Rate Lock Commitments Other assets 289,355 41,346 TBAs Other assets 789 — $ 290,144 $ 41,501 Derivative liabilities Interest Rate Swaps (A) Accrued expenses and other liabilities $ 25 $ — Interest Rate Lock Commitments Accrued expenses and other liabilities 281 1,455 Forward Loan Sale Commitments Accrued expenses and other liabilities — 27 TBAs Accrued expenses and other liabilities 119,456 5,403 $ 119,762 $ 6,885 (A) Net of $237.7 million and $171.7 million of related variation margin accounts as of December 31, 2020 and December 31, 2019, respectively. The following table summarizes notional amounts related to derivatives: December 31, 2020 2019 Interest Rate Caps (A) $ — $ 12,500 Interest Rate Swaps (B) 6,515,000 4,900,000 Interest Rate Lock Commitments 15,031,345 4,043,935 Forward Loan Sale Commitments — 43,654 TBAs, short position (C) 23,529,408 5,048,000 TBAs, long position (C) — 11,692,212 (A) As of December 31, 2019, caps LIBOR at 4.0% for $12.5 million of notional. The weighted average maturity of the interest rate caps as of December 31, 2019 was 11 months. (B) Includes $6.5 billion notional of Receive LIBOR/Pay Fixed of 2.2% and $0.0 billion notional of Receive Fixed of 0.0%/Pay LIBOR with weighted average maturities of 47 months and 0 months, respectively, as of December 31, 2020. Includes $0.0 billion notional of Receive LIBOR/Pay Fixed of 0.0% and $0.9 billion notional of Received Fixed of 1.9%/Pay LIBOR with weighted average maturities of 36 months and 87 months, respectively, as of December 31, 2019. (C) Represents the notional amount of Agency RMBS, classified as derivatives. The following table summarizes all income (losses) recorded in relation to derivatives: Year Ended December 31, 2020 2019 2018 Change in fair value of derivative investments (A) Interest Rate Caps $ — $ (3) $ 431 Interest Rate Swaps (53,467) (58,918) (108,098) TBAs — 2,778 (567) (53,467) (56,143) (108,234) Gain (loss) on settlement of investments, net Interest Rate Caps $ — $ — $ (603) Interest Rate Swaps (2,685) (8,671) 65,823 TBAs (B) (72,127) (121,252) (10,353) (74,812) (129,923) 54,867 Gain on originated mortgage loans, held for sale, net (A) Interest Rate Lock Commitments $ 249,183 $ 26,151 $ 23 TBAs (115,243) 3,067 (5,064) Forward Loan Sale Commitments 27 (66) (283) 133,967 29,152 (5,324) Total income (losses) $ 5,688 $ (156,914) $ (58,691) (A) Represents unrealized gains (losses). (B) Excludes $361.8 millionand $53.4 million in loss on settlement and $1.2 million in gain on settlement included as a realized gain on sale of originated mortgage loans, held-for-sale, net (Note 9) for the years ended December 31, 2020, 2019 and 2018, respectively.

DEBT OBLIGATIONS (Tables)

DEBT OBLIGATIONS (Tables)	12 Months Ended
DEBT OBLIGATIONS (Tables)	Dec. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt Obligations	The following table presents certain information regarding New Residential’s secured financing agreements and secured notes and bonds payable debt obligations: December 31, 2020 December 31, 2019 Collateral Debt Obligations/Collateral Outstanding Face Amount Carrying Value (A) Final Stated Maturity (B) Weighted Average Funding Cost Weighted Average Life (Years) Outstanding Face Amortized Cost Basis Carrying Value Weighted Average Life (Years) Carrying Value (A) Secured Financing Agreements (C) Repurchase Agreements: Warehouse Credit Facilities-Residential Mortgage Loans (F) $ 4,043,156 $ 4,039,564 Feb-21 to Dec-22 2.18 % 0.6 $ 4,370,264 $ 4,496,831 $ 4,465,054 19.5 $ 5,053,207 Agency RMBS (D) 12,682,427 12,682,427 Jan-21 0.24 % 0.2 12,929,057 13,715,013 13,800,351 0.9 15,481,677 Non-Agency RMBS (E) 818,063 817,209 Jan-21 to Mar-21 3.48 % 0.3 17,183,226 1,534,798 1,548,351 0.7 7,317,519 Real Estate Owned (G) (H) 8,480 8,480 Feb-21 to Dec-22 3.13 % 1.9 N/A N/A 11,098 N/A 63,822 Total Secured Financing Agreements 17,552,126 17,547,680 0.84 % 0.3 27,916,225 Secured Notes and Bonds Payable Excess MSRs (I) 275,088 275,088 Aug-24 4.36 % 3.7 101,142,417 317,234 398,969 6.1 217,300 MSRs (J) 2,704,923 2,691,791 Jul-22 to Dec-25 4.52 % 3.5 416,212,194 4,457,541 4,400,657 5.6 2,640,036 Servicer Advance Investments (K) 423,144 423,144 Apr-21 to Dec-22 1.45 % 1.5 449,150 512,958 538,056 6.0 443,248 Servicer Advances (K) 2,593,643 2,585,575 Apr-21 to Sep-23 2.42 % 1.8 2,970,329 3,002,267 3,002,267 0.7 2,738,424 Residential Mortgage Loans (L) 1,045,275 1,039,838 Apr-21 to Aug-60 4.25 % 30.2 1,602,289 1,535,095 1,365,250 4.8 864,451 Consumer Loans (M) 625,166 628,759 Sep -37 2.03 % 3.6 618,055 682,866 682,866 3.6 816,689 Total Secured Notes and Bonds Payable 7,667,239 7,644,195 3.39 % 6.5 7,720,148 Total/Weighted Average $ 25,219,365 $ 25,191,875 1.61 % 2.2 $ 35,636,373 (A) Net of deferred financing costs. (B) All debt obligations with a stated maturity through the date of issuance were refinanced, extended or repaid. (C) These secured financing agreements had approximately $48.5 million of associated accrued interest payable as of December 31, 2020. (D) All Agency RMBS repurchase agreements have a fixed rate. (E) All Non-Agency RMBS secured financing agreements have LIBOR-based floating interest rates. This also includes repurchase agreements and related collateral of $25.2 million and $35.1 million, respectively, on retained bonds collateralized by Agency MSRs. (F) Includes $258.0 million of repurchase agreements which bear interest at a fixed rate of 4.4%. All remaining repurchase agreements have LIBOR-based floating interest rates. (G) All repurchase agreements have LIBOR-based floating interest rates. (H) Includes financing collateralized by receivables including claims from FHA on Ginnie Mae EBO loans for which foreclosure has been completed and for which New Residential has made or intends to make a claim on the FHA guarantee. (I) Includes $275.1 million of corporate loans which bear interest at a fixed rate of 4.4%. (J) Includes $425.1 million of MSR notes which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.5%; $329.9 million of MSR notes which bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR and (ii) a margin of 4.5%; and $1,950.0 million of capital markets notes with fixed interest rates ranging 3.8% to 5.4%. The outstanding face amount of the collateral represents the UPB of the residential mortgage loans underlying the MSRs and MSR financing receivables that secure these notes. (K) $2.0 billion face amount of the notes have a fixed rate while the remaining notes bear interest equal to the sum of (i) a floating rate index equal to one-month LIBOR or a cost of funds rate, as applicable, and (ii) a margin ranging from 1.2% to 1.9%. Collateral includes Servicer Advance Investments, as well as servicer advances receivable related to the MSRs and MSR financing receivables owned by NRM. (L) Represents (i) a $5.7 million note payable to Mr. Cooper which includes a $1.5 million receivable from government agency and bears interest equal to one-month LIBOR plus 2.9%, (ii) $58.3 million of SAFT 2013-1 mortgage-backed securities issued with fixed interest rate of 3.7% (see Note 13 for fair value details), (iii) $150.9 million of MDST Activities related to the carrying value of New Residential’s debt obligations were as follows: Excess MSRs MSRs Servicer Advances (A) Real Estate Securities Residential Mortgage Loans and REO Consumer Loans Total Balance at December 31, 2018 $ 297,563 $ 2,360,856 $ 3,382,455 $ 11,780,855 $ 3,898,059 $ 936,447 $ 22,656,235 Secured Financing Agreements: Borrowings — — — 207,138,969 36,177,659 — 243,316,628 Repayments — — — (196,120,793) (34,833,314) — (230,954,107) Capitalized deferred financing costs, net of amortization — — — 165 (429) — (264) Secured Notes and Bonds Payable: Ditech Acquisition (B) — — — — 209,459 — 209,459 Borrowings 456,741 2,456,410 4,952,585 — 912,445 928,683 9,706,864 Repayments (537,200) (2,178,755) (5,149,327) — (383,635) (1,054,610) (9,303,527) Discount on borrowings, net of amortization — — 102 — — 6,169 6,271 Unrealized (gain) loss on notes, fair value — — — — 1,236 — 1,236 Capitalized deferred financing costs, net of amortization 196 1,525 (4,143) — — — (2,422) Balance at December 31, 2019 $ 217,300 $ 2,640,036 $ 3,181,672 $ 22,799,196 $ 5,981,480 $ 816,689 $ 35,636,373 Secured Financing Agreements: Borrowings — — — 113,228,180 63,453,603 — 176,681,783 Repayments — — — (122,526,887) (64,520,481) — (187,047,368) Capitalized deferred financing costs, net of amortization — — — (853) (2,107) — (2,960) Secured Notes and Bonds Payable: Borrowings 193,357 3,575,811 4,072,560 — 875,758 663,047 9,380,533 Repayments (135,569) (3,517,429) (4,245,295) — (697,789) (851,688) (9,447,770) Discount on borrowings, net of amortization — — — — — (2,882) (2,882) Unrealized (gain) loss on notes, fair value — — — — (2,627) 3,593 966 Capitalized deferred financing costs, net of amortization — (6,627) (218) — 45 — (6,800) Balance at December 31, 2020 $ 275,088 $ 2,691,791 $ 3,008,719 $ 13,499,636 $ 5,087,882 $ 628,759 $ 25,191,875 (A) New Residential net settles daily borrowings and repayments of the Secured Notes and Bonds Payable on its servicer advances. (B) As a result of the Ditech Acquisition, New Residential acquired the servicing on certain residual tranches of Non-Agency RMBS it already owned, and now consolidates the respective securities. See Note 9 for the associated loans.
Schedule of Contractual Maturities of Debt Obligations	New Residential’s debt obligations as of December 31, 2020 had contractual maturities as follows: Year Ending Nonrecourse (A) Recourse (B) Total 2021 $ 882,761 $ 17,186,206 $ 18,068,967 2022 800,000 1,260,621 2,060,621 2023 1,200,000 302,851 1,502,851 2024 — 583,801 583,801 2025 257,468 1,888,428 2,145,896 2026 and thereafter 1,407,229 — 1,407,229 $ 4,547,458 $ 21,221,907 $ 25,769,365 (A) Includes secured notes and bonds payable of $4.5 billion. (B) Includes secured financing agreements and secured notes and bonds payable of $17.7 billion and $3.5 billion, respectively.
Schedule of Borrowing Capacity	The following table represents New Residential’s borrowing capacity as of December 31, 2020: Debt Obligations/ Collateral Borrowing Capacity Balance Outstanding Available Financing Secured Financing Agreements Residential mortgage loans and REO $ 4,913,746 $ 1,254,198 $ 3,659,548 New Loan Originations 6,823,000 2,797,437 4,025,563 Secured Notes and Bonds Payable Excess MSRs 286,380 275,088 11,292 MSRs (B) 3,689,991 2,704,923 985,068 Servicer advances (A)(B) 4,365,000 3,016,787 1,348,213 $ 20,078,117 $ 10,048,433 $ 10,029,684 (A) New Residential’s unused borrowing capacity is available if New Residential has additional eligible collateral to pledge and meets other borrowing conditions as set forth in the applicable agreements, including any applicable advance rate.
Schedule Term Loans	The table below summarizes the interest expense on the 2020 Term Loan: Year Ended December 31, 2020 2019 Coupon interest at 11% $ 20,435 $ — Amortization of debt discounts and issuance costs 5,006 — Total $ 25,441 $ —
Schedule of Debt Redemption	The 2025 Senior Notes mature on October 15, 2025 and the Company may redeem some or all of the 2025 Senior Notes at the Company’s option, at any time from time to time, on or after October 15, 2022 at a price equal to the following fixed redemption prices (expressed as a percentage of principal amount of the 2025 Senior Notes to be redeemed): Year Price 2022 103.125% 2023 101.563% 2024 and thereafter 100.000%

FAIR VALUE MEASURMENT (Tables)

FAIR VALUE MEASURMENT (Tables)	12 Months Ended
FAIR VALUE MEASURMENT (Tables)	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Fair Values of Financial Assets and Liabilities Recorded at Fair Value on a Recurring Basis	The carrying values and fair values of New Residential’s assets and liabilities recorded at fair value on a recurring basis, as well as other financial instruments for which fair value is disclosed, as of December 31, 2020 were as follows: Fair Value Principal Balance or Notional Amount Carrying Value Level 1 Level 2 Level 3 Total Assets: Excess mortgage servicing rights, at fair value (A) $ 72,688,905 $ 310,938 $ — $ — $ 310,938 $ 310,938 Excess mortgage servicing rights, equity method investees, at fair value (A) 28,453,512 99,917 — — 99,917 99,917 Mortgage servicing rights, at fair value (A) 363,269,876 3,489,675 — — 3,489,675 3,489,675 Mortgage servicing rights financing receivables, at fair value (A) 72,165,951 1,096,166 — — 1,096,166 1,096,166 Servicer advance investments, at fair value 449,150 538,056 — — 538,056 538,056 Real estate and other securities 31,869,681 14,244,558 — 13,063,634 1,180,924 14,244,558 Residential mortgage loans, held-for-sale 637,138 509,887 — — 509,887 509,887 Residential mortgage loans, held-for-sale, at fair value 4,675,833 4,705,816 — 3,059,611 1,646,205 4,705,816 Residential mortgage loans, held-for-investment, at fair value 769,348 674,179 — — 674,179 674,179 Residential mortgage loans subject to repurchase 1,452,005 1,452,005 — 1,452,005 — 1,452,005 Consumer loans, held-for-investment, at fair value 620,983 685,575 — — 685,575 685,575 Derivative assets 38,427,601 290,144 — 789 289,355 290,144 Note Receivable 49,075 49,889 — — 49,889 49,889 Cash and cash equivalents 944,854 944,854 944,854 — — 944,854 Restricted cash 135,619 135,619 135,619 — — 135,619 Other assets (B) N/A 48,032 11,187 — 36,845 48,032 $ 29,275,310 $ 1,091,660 $ 17,576,039 $ 10,607,611 $ 29,275,310 Liabilities: Secured financing agreements $ 17,552,126 $ 17,547,680 $ — $ 17,552,126 $ — $ 17,552,126 Secured notes and bonds payable (C) 7,667,239 7,644,195 — — 7,651,325 7,651,325 Unsecured senior notes, net of issuance costs 541,516 541,516 — — 541,516 541,516 Residential mortgage loan repurchase liability 1,452,005 1,452,005 — 1,452,005 — 1,452,005 Derivative liabilities 6,648,152 119,762 — 119,481 281 119,762 Excess spread financing 2,190,991 18,420 — — 18,420 18,420 Contingent consideration N/A 14,247 — — 14,247 14,247 $ 27,337,825 $ — $ 19,123,612 $ 8,225,789 $ 27,349,401 (A) The notional amount represents the total unpaid principal balance of the residential mortgage loans underlying the MSRs, MSR Financing Receivables, and Excess MSRs. New Residential does not receive an excess mortgage servicing amount on non-performing loans in Agency portfolios. (B) Excludes the indirect equity investment in a commercial redevelopment project that is accounted for at fair value on a recurring basis based on the NAV of New Residential’s investment. The investment had a fair value of $31.8 million as of December 31, 2020. (C) Includes the SAFT 2013-1, MDST Trusts, NPL/RPL Securitization Trusts and SCFT 2020-A mortgage backed securities issued for which the fair value option for financial instruments was elected and resulted in a fair value of $1.7 billion as of December 31, 2020. The carrying values and fair values of New Residential’s assets and liabilities recorded at fair value on a recurring basis, as well as other financial instruments for which fair value is disclosed, as of December 31, 2019 were as follows: Fair Value Principal Balance or Notional Amount Carrying Value Level 1 Level 2 Level 3 Total Assets: Excess mortgage servicing rights, at fair value (A) $ 88,345,237 $ 379,747 $ — $ — $ 379,747 $ 379,747 Excess mortgage servicing rights, equity method investees, at fair value (A) 33,592,554 125,596 — — 125,596 125,596 Mortgage servicing rights, at fair value (A) 373,850,061 3,967,960 — — 3,967,960 3,967,960 Mortgage servicing rights financing receivables, at fair value (A) 130,984,870 1,718,273 — — 1,718,273 1,718,273 Servicer advance investments, at fair value 462,843 581,777 — — 581,777 581,777 Real estate and other securities 36,159,591 19,477,728 — 11,519,943 7,957,785 19,477,728 Residential mortgage loans, held-for-investment 502,352 441,263 — — 435,234 435,234 Residential mortgage loans, held-for-sale 1,531,505 1,429,052 — — 1,438,302 1,438,302 Residential mortgage loans, held-for-sale, at fair value (B) 4,675,806 4,613,612 — 1,099,230 3,514,382 4,613,612 Residential mortgage loans, held-for-investment, at fair value (C) 452,771 484,443 — — 484,443 484,443 Residential mortgage loans subject to repurchase 172,336 172,336 — 172,336 — 172,336 Consumer loans, held-for-investment 823,917 827,545 — — 849,739 849,739 Derivative assets 8,360,894 41,501 — 155 41,346 41,501 Cash and cash equivalents 528,737 528,737 528,737 — — 528,737 Restricted cash 162,197 162,197 162,197 — — 162,197 Other assets (D) N/A 60,654 7,952 — 52,703 60,655 $ 35,012,421 $ 698,886 $ 12,791,664 $ 21,547,287 $ 35,037,837 Liabilities: Secured financing agreements $ 27,917,709 $ 27,916,225 $ — $ 27,917,709 $ — $ 27,917,709 Secured notes and bonds payable (E) 7,733,135 7,720,148 — — 7,779,060 7,779,060 Residential mortgage loan repurchase liability 172,336 172,336 — 172,336 — 172,336 Derivative liabilities 17,379,407 6,885 — 5,430 1,455 6,885 Excess spread financing 2,962,629 31,777 — — 31,777 31,777 Contingent consideration N/A 55,222 — — 55,222 55,222 $ 35,902,593 $ — $ 28,095,475 $ 7,867,514 $ 35,962,989 (A) The notional amount represents the total unpaid principal balance of the residential mortgage loans underlying the MSRs, MSR financing receivables, and Excess MSRs. New Residential does not receive an excess mortgage servicing amount on non-performing loans in Agency portfolios. (B) Includes $267.7 million in fair value of loans that are 90 days or more past due. (C) Includes $21.6 million in fair value of loans that are 90 days or more past due. (D) Excludes the indirect equity investment in a commercial redevelopment project that is accounted for at fair value on a recurring basis based on the NAV of New Residential’s investment. The investment had a fair value of $74.0 million as of December 31, 2019. (E) Includes the MDST Trusts, SAFT 2013-1 mortgage-backed securities and the 2019-RPL1 asset-backed notes issued for which the fair value option for financial instruments was elected and resulted in a fair value of $659.7 million as of December 31, 2019.
Schedule of Financial Assets Measured at Fair Value on a Recurring Basis using Level 3 Inputs	New Residential’s assets measured at fair value on a recurring basis using Level 3 inputs changed as follows: Level 3 Excess MSRs (A) Excess MSRs in Equity Method Investees (A)(B) Agency Non-Agency MSRs (A) Mortgage Servicing Rights Financing Receivables (A) Servicer Advance Investments Non-Agency RMBS Derivatives (C) Residential Mortgage Loans Consumer Loans Total Balance at December 31, 2018 $ 257,387 $ 190,473 $ 147,964 $ 2,884,100 $ 1,644,504 $ 735,846 $ 8,970,963 $ 10,628 $ 2,330,627 $ — $ 17,172,492 Transfers Transfers from Level 3 — — — — — — — — (32,806) — (32,806) Transfers to Level 3 — — — — — — — — 315,577 — 315,577 Ditech Acquisition — — — 387,170 — — (178,435) — 381,039 — 589,774 Transfers from MSR financing receivables to MSRs — — — 367,121 (367,121) — — — — — — Gains (losses) included in net income Included in provision (reversal) for credit losses on securities (D) — — — — — — (25,174) — — — (25,174) Included in change in fair value of excess mortgage servicing rights (D) (7,559) (2,946) — — — — — — — — (10,505) Included in change in fair value of excess mortgage servicing rights, equity method investees (D) — — 6,800 — — — — — — — 6,800 Included in servicing revenue, net (E) — — — (721,356) — — — — — — (721,356) Included in change in fair value of MSR financing receivable (D) — — — — (189,023) — — — — — (189,023) Included in change in fair value of servicer advance investments — — — — — 10,288 — — — — 10,288 Included in change in fair value of residential mortgage loans — — — — — — — — (63,347) — (63,347) Included in gain (loss) on settlement of investments, net 1,479 30 — — — — 97,191 — — — 98,700 Included in other income (loss), net (D) 1,523 819 — — — — 2,101 29,263 — — 33,706 Gains (losses) included in other comprehensive income (F) — — — — — — 238,217 — — — 238,217 Interest income 14,895 17,752 — — — 27,666 302,705 — — — 363,018 Purchases, sales and repayments Purchases, net (G) — — — 678,424 652,902 1,622,808 2,058,953 — 11,110,245 — 16,123,332 Proceeds from sales (10,018) (57) — (1,539) (22,989) — (1,949,300) — (10,638,483) — (12,622,386) Proceeds from repayments (48,074) (35,957) (29,168) — — (1,814,831) (1,559,436) — (248,503) — (3,735,969) Originations and other — — — 374,040 — — — — 844,476 — 1,218,516 Balance at December 31, 2019 $ 209,633 $ 170,114 $ 125,596 $ 3,967,960 $ 1,718,273 $ 581,777 $ 7,957,785 $ 39,891 $ 3,998,825 $ — $ 18,769,854 (continued on next page) Level 3 Excess MSRs (A) Excess MSRs in Equity Method Investees (A)(B) Agency Non-Agency MSRs (A) Mortgage Servicing Rights Financing Receivables (A) Servicer Advance Investments Non-Agency RMBS Derivatives (C) Residential Mortgage Loans Consumer Loans Total (continued from previous page) Transfers Transfers from Level 3 — — — — — — — — (718,892) — (718,892) Transfers to Level 3 for the adoption of ASU 2016-13 (See Note 2) — — — — — — — — 445,040 827,545 1,272,585 Transfers from MSR financing receivables to MSRs — — — 320,613 (320,613) — — — — — — Gains (losses) included in net income Included in provision (reversal) for credit losses on securities (D) — — — — — — (13,404) — — — (13,404) Included in change in fair value of excess mortgage servicing rights (D) (9,510) (6,722) — — — — — — — — (16,232) Included in change in fair value of excess mortgage servicing rights, equity method investees (D) — — (3,489) — — — — — — — (3,489) Included in servicing revenue, net (E) — — — (1,903,905) — — — — — — (1,903,905) Included in change in fair value of MSR financing receivable (D) — — — — (279,168) — — — — — (279,168) Included in change in fair value of servicer advance investments — — — — — 763 — — — — 763 Included in change in fair value of residential mortgage loans — — — — — — — — (107,604) — (107,604) Included in gain (loss) on settlement of investments, net 66 1 — — — — (953,541) — — — (953,474) Included in other income (loss), net (D) (10,817) (1,373) — — — — (42,506) 249,183 (8,276) (6,385) 179,826 Gains (losses) included in other comprehensive income (F) — — — — — — (580,102) — (6,020) 36,472 (549,650) Interest income 12,299 16,053 — — — 18,182 105,373 — — 24,120 176,027 Purchases, sales and repayments Purchases, net (G) — — — 449,875 (18,267) 1,294,757 575,030 — 2,415,084 33,041 4,749,520 Proceeds from sales (1,056) (5) — (11,282) (4,059) — (5,288,480) — (3,391,887) — (8,696,769) Proceeds from repayments (37,970) (29,775) (22,190) — — (1,357,423) (577,543) — (305,886) (229,218) (2,560,005) Originations and other — — — 666,414 — — (1,688) — — — 664,726 Balance at December 31, 2020 $ 162,645 $ 148,293 $ 99,917 $ 3,489,675 $ 1,096,166 $ 538,056 $ 1,180,924 $ 289,074 $ 2,320,384 $ 685,575 $ 10,010,709 (A) Includes the recapture agreement for each respective pool, as applicable. (B) Amounts represent New Residential’s portion of the Excess MSRs held by the respective joint ventures in which New Residential has a 50% interest. (C) For the purpose of this table, the IRLC asset and liability positions are shown net. (D) The gains (losses) recorded in earnings during the period are attributable to the change in unrealized gains (losses) relating to Level 3 assets still held at the reporting dates and realized gains (losses) recorded during the period. (E) The components of Servicing revenue, net are disclosed in Note 6. (F) These gains (losses) were included in net unrealized gain (loss) on securities in the Consolidated Statements of Comprehensive Income. (G) Net of purchase price adjustments and purchase price fully reimbursable from MSR sellers as a result of prepayment protection.
Schedule of Financial Liabilities Measured at Fair Value on a Recurring Basis using Level 3 Inputs	New Residential’s liabilities measured at fair value on a recurring basis using Level 3 inputs changed as follows: Level 3 Excess Spread Financing Mortgage-Backed Securities Issued Contingent Consideration Total Balance at December 31, 2018 $ 39,304 $ 117,048 $ 40,842 $ 197,194 Transfers Transfers from Level 3 — — — — Transfers to Level 3 — — — — Acquisitions — — 13,893 13,893 Ditech Acquisition (D) — 209,459 — 209,459 Gains (losses) included in net income Included in servicing revenue, net (B) (8,406) — — (8,406) Included in other income (A) — 1,236 10,487 11,723 Interest income — — — — Purchases, sales and payments — Purchases — 378,569 — 378,569 Proceeds from sales — — — — Payments — (46,574) (10,000) (56,574) Other 879 — — 879 Balance at December 31, 2019 $ 31,777 $ 659,738 $ 55,222 $ 746,737 Transfers Transfers from Level 3 — — — — Transfers to Level 3 — — — — Acquisitions — — — — Gains (losses) included in net income Included in servicing revenue, net (B) (14,164) — — (14,164) Included in other income (A) — 966 4,844 5,810 Interest income — — — — Purchases, sales and payments Purchases — 1,520,382 — 1,520,382 Proceeds from sales — — — — Payments — (516,769) (45,819) (562,588) Other 807 (1,465) — (658) Balance at December 31, 2020 $ 18,420 $ 1,662,852 $ 14,247 $ 1,695,519 (A) The gains (losses) recorded in earnings during the period are attributable to the change in unrealized gains (losses) relating to Level 3 liabilities still held at the reporting dates and realized gains (losses) recorded during the period. (B) The components of Servicing revenue, net are disclosed in Note 6. (C) These gains (losses) were included in net unrealized gain (loss) on securities in the Consolidated Statements of Comprehensive Income. (D) As a result of the Ditech Acquisition, New Residential acquired MSRs and the servicing on certain residual tranches of Non-Agency RMBS it already owned, and now consolidates the respective securities. See Note 12 for the associated liability.
Summary of Certain Information Regarding Weighted Average Inputs used in Valuing Excess MSRs Owned Directly and through Equity Method Investees	The following tables summarize certain information regarding the ranges and weighted averages of significant inputs used: December 31, 2020 Significant Inputs (A) Prepayment Rate (B) Delinquency (C) Recapture Rate (D) Mortgage Servicing Amount (E) Collateral Weighted Average Maturity Years (F) Excess MSRs Directly Held (Note 5) Agency Original Pools 7.1% - 10.9% (7.8%) —% - 3.5% (1.4%) 4.4% - 23.3% (10.3%) 15 - 31 (21) 13 - 21 (19) Recaptured Pools 7% - 11.9% (9.6%) —% - 4% (0.9%) —% - 35.0% (20.4%) 21 - 29 (24) 19 - 24 (22) 7% - 11.9% (8.4%) —% - 4% (1.2%) —% - 35.0% (13.8%) 15 - 31 (22) 13 - 24 (20) Non-Agency (G) Mr. Cooper and SLS Serviced: Original Pools 6.6% - 11.9% (9%) 2.6% - 13.9% (10.2) —% - 13.1% (10%) 5 - 25 (15) 18 - 29 (23) Recaptured Pools 5.6% - 7.4% (6.1%) 0.2% - 0.5 (0.4) 12.1% - 21.4% (14.2%) 23 - 27 (25) 21 - 23 (23) 5.6% - 11.9% (8.5%) 0.2% - 13.9 (10.2) —% - 21.4% (10.7%) 5 - 27 (17) 18 - 29 (23) Total/Weighted Average—Excess MSRs Directly Held 5.6% - 11.9% (8.5%) —% - 13.9% (4.8%) —% - 35.0% (12.3%) 5 - 31 (19) 13 - 29 (21) Excess MSRs Held through Equity Method Investees (Note 5) Agency Original Pools 7.1% - 10.2% (8%) 1.2% - 2.5% (1.6%) 5.2% - 23.3% (8.9%) 15 - 25 (19) 18 - 19 (18) Recaptured Pools 8.6% - 10.5% (9.3%) 0.6% - 1.7% (1.2%) 11.7% - 28.9% (15%) 22 - 28 (25) 20 - 23 (22) Total/Weighted Average—Excess MSRs Held through Investees 7.5% - 10.7% (9.0%) 0.6% - 2.2% (1.2%) 5.5% - 29.8% (12.9%) 15 - 28 (22) 18 - 23 (20) Total/Weighted Average—Excess MSRs All Pools 5.6% - 11.9% (8.5%) —% - 13.9% (3.6%) —% - 35.0% (12.2%) 5 - 31 (20) 13 - 29 (21) MSRs (Note 6) Agency (H) Mortgage Servicing Rights (J) 7.9% - 23.3% (13.1%) 0.4% - 2.1% (0.9%) 2.5% - 35.5% (20.6%) 25 - 31 (28) — - 30 (22) MSR Financing Receivables 12.1% 0.7% 15.9% 25 — - 30 (22) 7.9% - 23.3% (13.1%) 0.4% - 2.1% (0.9%) 2.5% - 35.5% (20.5%) 25 - 31 (28) — - 30 (22) Non-Agency Mortgage Servicing Rights 9.5% - 16.4% (13.1%) 0.9% - 9.4% (4.9%) 4.3% - 31.6% (18.6%) 26 - 88 (55) — - 30 (16) MSR Financing Receivables 7.6% 13.0% 7.9% 48 — - 30 (25) 7.6% - 16.4% (7.7%) 0.9% - 13.0% (12.9%) 4.3% - 31.6% (8.1%) 26 - 88 (48) — - 30 (25) Ginnie Mae Mortgage Servicing Rights (J) 9.0% - 24.1% (20.3%) 2.3% - 5.6% (4.7%) 16.2% - 35.0% (24.9%) 32 - 50 (45) — - 30 (27) 7.6% - 24.1% (12.9%) 0.4% - 13.0% (4.2%) 2.5% - 35.5% (20%) 25 - 88 (35) — - 30 (23) December 31, 2019 Significant Inputs (A) Prepayment Rate (B) Delinquency (C) Recapture Rate (D) Mortgage Servicing Amount (E) Collateral Weighted Average Maturity Years (F) Excess MSRs Directly Held (Note 5) Agency Original Pools 8.6 % 1.1 % 20.3 % 21 20 Recaptured Pools 10.7 % 0.5 % 27.8 % 23 23 9.2 % 0.9 % 22.3 % 22 21 Non-Agency (G) Mr. Cooper and SLS Serviced: Original Pools 9.7 % N/A 15.5 % 15 24 Recaptured Pools 7.5 % N/A 17.4 % 24 23 9.4 % N/A 15.8 % 16 24 Total/Weighted Average—Excess MSRs Directly Held 9.3 % 0.9 % 19.4 % 19 22 Excess MSRs Held through Equity Method Investees (Note 5) Agency Original Pools 9.3 % 1.4 % 23.7 % 19 19 Recaptured Pools 10.3 % 0.8 % 26.7 % 24 22 Total/Weighted Average—Excess MSRs Held through Investees 9.8 % 1.1 % 25.1 % 21 20 Total/Weighted Average—Excess MSRs All Pools 9.5 % 1.0 % 21.4 % 20 21 MSRs (Note 6) Agency (H) Mortgage Servicing Rights (I) 12.5 % 1.0 % 23.3 % 28 22 MSR Financing Receivables (I) 15.4 % 0.4 % 15.8 % 27 25 12.9 % 0.9 % 22.2 % 28 22 Non-Agency Mortgage Servicing Rights 11.6 % 1.2 % 22.1 % 31 16 MSR Financing Receivables (I) 8.3 % 14.4 % 9.3 % 47 25 8.4 % 14.2 % 9.5 % 47 25 Ginnie Mae Mortgage Servicing Rights (J) 16.2 % 4.4 % 28.1 % 42 27 12.3 % 4.1 % 20.0 % 33 23 (A) Weighted by fair value of the portfolio. (B) Projected annualized weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector. (C) Projected percentage of residential mortgage loans in the pool for which the borrower will miss its mortgage payments. (D) Percentage of voluntarily prepaid loans that are expected to be refinanced by the related servicer or subservicer, as applicable. (E) Weighted average total mortgage servicing amount, in excess of the basic fee as applicable, measured in bps. As of December 31, 2020 and 2019, weighted average costs of subservicing of $6.20-$7.50 ($7.00) and $7.18, respectively, per loan per month was used to value the agency MSRs, including MSR Financing Receivables. Weighted average costs of subservicing of $10.90 and $11.28, respectively, per loan per month was used to value the non-agency MSRs, including MSR Financing Receivables. Weighted average cost of subservicing of $8.90 and $9.20, respectively, per loan per month was used to value the Ginnie Mae MSRs. (F) Weighted average maturity of the underlying residential mortgage loans in the pool. (G) For certain pools, the Excess MSR will be paid on the total UPB of the mortgage portfolio (including both performing and delinquent loans until REO). For these pools, no delinquency assumption is used. (H) Represents Fannie Mae and Freddie Mac MSRs. (I) For certain pools, recapture rate represents the expected recapture rate with the successor subservicer appointed by NRM. (J) Includes valuation of the related Excess spread financing (Note 6). Fair Value Discount Rate Prepayment Rate CDR Loss Severity Acquired Loans $ 1,633,628 3.3% - 8.5% (4.6%) 0.2% - 5.5% (2.6%) 2.0% - 25.0% (5.0%) 3.0% - 50.0% (27.1%) Originated Loans 12,577 4.8% 5.5% 4.5% 50.0% Residential Mortgage Loans Held-for-Sale, at Fair Value $ 1,646,205 The following table summarizes certain information regarding the ranges and weighted averages of significant inputs used in valuing residential mortgage loans held-for-investment, at fair value classified as Level 3: Fair Value Discount Rate Prepayment Rate CDR Loss Severity Residential Mortgage Loans Held-for-Investment, at Fair Value $ 674,179 6.5% - 9.0% (6.8%) 2.3% - 2.9% (2.4%) 2.0% - 6.6% (6.2%) 30.0% - 65.8% (62.5%) The following table summarizes certain information regarding the ranges and weighted averages of significant inputs used in valuing consumer loans held-for-investment, at fair value classified as Level 3: Fair Value Discount Rate Prepayment Rate CDR Loss Severity Consumer Loans Held-for-Investment, at Fair Value 685,575 7.5% - 9.7% (7.5%) 19.2% - 35.1% (19.3%) 5.2% - 20.7% (5.2%) 77.8% - 90.2% (77.9%) The following table summarizes certain information regarding the ranges and weighted averages of significant inputs used in valuing IRLCs: Fair Value Loan Funding Probability Fair Value of initial servicing rights (bps) IRLCs (net) $ 289,074 —% - 100% (80.5%) 0.70 - 270.58 (106.09) The following table summarizes certain information regarding the ranges and weighted averages of significant inputs used in valuing Mortgage-Backed Securities Issued: Fair Value Discount Rate Prepayment Rate CDR Loss Severity Mortgage-Backed Securities Issued $ 1,662,852 1.8% - 4.5% (3.1%) 3.1% - 30% (10.2%) 0.5% - 10.5% (7.4%) 20.0% - 90.0% (55.2%)
Summary of Certain Information Regarding the Inputs used in Valuing the Servicer Advances	The following table summarizes certain information regarding the ranges and weighted averages of significant inputs used in valuing the Servicer Advance Investments, including the basic fee component of the related MSRs: Significant Inputs Outstanding Prepayment Rate (A) Delinquency Mortgage Servicing Amount (B) Discount Collateral Weighted Average Maturity (Years) (C) December 31, 2020 1.1% - 1.7% (1.7%) 9.3% - 9.3% (9.3%) 6.9% - 9.1% (9.0%) 17.1 - 19.8 (19.7) bps 5.2% - 5.7% (5.2%) 22.3 December 31, 2019 1.4% 10.6% 15.7% 19.6 bps 5.3% 22.9 (A) Projected annual weighted average lifetime voluntary and involuntary prepayment rate using a prepayment vector. (B) Mortgage servicing amount is net of 10.0 bps and 10.1 bps which represent the amounts New Residential paid its servicers as a monthly servicing fee as of December 31, 2020 and 2019, respectively. (C) Weighted average maturity of the underlying residential mortgage loans in the pool.
Schedule of Securities Valuation Methodology and Results	New Residential’s securities valuation methodology and results are further detailed as follows: Fair Value Asset Type Outstanding Face Amount Amortized Cost Basis Multiple Quotes (A) Single Quote (B) Total Level December 31, 2020 Agency RMBS $ 12,491,152 $ 12,951,608 $ 13,063,634 $ — $ 13,063,634 2 Non-Agency RMBS (C) 19,378,530 1,153,643 1,171,209 9,715 1,180,924 3 Total $ 31,869,682 $ 14,105,251 $ 14,234,843 $ 9,715 $ 14,244,558 December 31, 2019 Agency RMBS $ 11,301,603 $ 11,474,338 $ 11,519,943 $ — $ 11,519,943 2 Non-Agency RMBS (C) 24,857,988 7,307,837 7,953,573 4,212 7,957,785 3 Total $ 36,159,591 $ 18,782,175 $ 19,473,516 $ 4,212 $ 19,477,728 (A) New Residential generally obtained pricing service quotations or broker quotations from two sources, one of which was generally the seller (the party that sold New Residential the security) for Non-Agency RMBS. New Residential evaluates quotes received and determines one as being most representative of fair value, and does not use an average of the quotes. Even if New Residential receives two or more quotes on a particular security that come from non-selling brokers or pricing services, it does not use an average because it believes using an actual quote more closely represents a transactable price for the security than an average level. Furthermore, in some cases, for non-agency RMBS, there is a wide disparity between the quotes New Residential receives. New Residential believes using an average of the quotes in these cases would not represent the fair value of the asset. Based on New Residential’s own fair value analysis, it selects one of the quotes which is believed to more accurately reflect fair value. New Residential has not adjusted any of the quotes received in the periods presented. New Residential’s Agency RMBS are classified within Level 2 of the fair value hierarchy because the market for these securities is very active and market prices are readily observable. The third-party pricing services and brokers engaged by New Residential (collectively, “valuation providers”) use either the income approach or the market approach, or a combination of the two, in arriving at their estimated valuations of RMBS. Valuation providers using the market approach generally look at prices and other relevant information generated by market transactions involving identical or comparable assets. Valuation providers using the income approach create pricing models that generally incorporate such assumptions as discount rates, expected prepayment rates, expected default rates and expected loss severities. New Residential has reviewed the methodologies utilized by its valuation providers and has found them to be consistent with GAAP requirements. In addition to obtaining multiple quotations, when available, and reviewing the valuation methodologies of its valuation providers, New Residential creates its own internal pricing models for Level 3 securities and uses the outputs of these models as part of its process of evaluating the fair value estimates it receives from its valuation providers. These models incorporate the same types of assumptions as the models used by the valuation providers, but the assumptions are developed independently. For 99.0% of New Residential’s Non-Agency RMBS, the ranges and weighted averages of assumptions used by New Residential’s valuation providers are summarized in the table below. The assumptions used by New Residential’s valuation providers with respect to the remainder of New Residential’s Non-Agency RMBS were not readily available. Fair Value Discount Rate Prepayment Rate (a) CDR (b) Loss Severity (c) Non-Agency RMBS $ 1,168,765 3.5% - 15.0% (4.3%) 7.0% - 25.0% (14.3%) 0.5% - 12.0% (1.4%) 20.0% - 88.0% (30.0%) (a) Represents the annualized rate of the prepayments as a percentage of the total principal balance of the pool. (b) Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance of the pool. (c) Represents the expected amount of future realized losses resulting from the ultimate liquidation of a particular loan, expressed as the net amount of loss relative to the outstanding balance. (B) New Residential was unable to obtain quotations from more than one source on these securities. For approximately $0.0 million in 2020 and $0.7 million in 2019, the one source was the party that sold New Residential the security. (C) Includes New Residential’s interest-only notes for which the fair value option for financial instruments was elected.
Schedule of Inputs Used in Valuing Residential Mortgage Loans	The following table summarizes the ranges and weighted averages of significant inputs used in valuing these residential mortgage loans: Fair Value and Carrying Value Discount Rate Weighted Average Life (Years) (A) Prepayment Rate CDR (B) Loss Severity (C) December 31, 2020 Performing Loans $ 129,345 4.8% - 8.5% (6.7%) 3.1 - 9.1 4.5 5.1% - 9.9% (8.8%) 0.2% - 7.8% (2.0%) 28.7% - 100.0% (46.2%) Non-Performing Loans 380,542 7.5% - 9.0% (7.5%) 2.9 - 3.8 3.3 2.0% - 2.0% (2.0%) 2.9% - 2.9% (2.9%) 8.5% - 30.0% (29.5%) Total/Weighted Average $ 509,887 7.3% 3.6 3.7% 2.6% 33.7% December 31, 2019 Performing Loans $ 707,106 4.2% 4.1 11.7% 2.6% 27.3% Non-Performing Loans 482,401 5.5% 3.1 3.0% 2.9% 30.0% Total/Weighted Average $ 1,189,507 4.7% 3.7 8.2% 2.7% 28.4% (A) The weighted average life is based on the expected timing of the receipt of cash flows. (B) Represents the annualized rate of the involuntary prepayments (defaults) as a percentage of the total principal balance.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
VARIABLE INTEREST ENTITIES (Tables)	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The following table comprises unconsolidated bonds retained pursuant to required risk retention regulations: As of and for the 2020 2019 Residential mortgage loan UPB $ 14,211,351 $ 19,590,978 Weighted average delinquency (A) 10.06 % 1.25 % Net credit losses $ 76,725 $ 9,354 Face amount of debt held by third parties (B) $ 12,671,168 $ 17,946,939 Carrying value of bonds retained by New Residential (C) (D) $ 1,361,624 $ 1,656,712 Cash flows received by New Residential on these bonds $ 315,939 $ 270,739 (A) Represents the percentage of the UPB that is 60+ days delinquent. (B) Excludes bonds retained by New Residential. (C) Includes bonds retained pursuant to required risk retention regulations. (D) Classified within Level 3 of the fair value hierarchy as the valuation is based on certain unobservable inputs including discount rate, prepayment rates and loss severity. See Note 13 for details on unobservable inputs. The table below presents the carrying value and classification of the assets and liabilities of consolidated VIEs on New Residential’s consolidated balance sheets: The Buyer Shelter Joint Ventures Residential Mortgage Loans Consumer Loan SPVs Total December 31, 2020 Assets Servicer advance investments, at fair value $ 522,901 $ — $ — $ — $ 522,901 Residential mortgage loans, held-for-investment, at fair value — — 358,629 — 358,629 Residential mortgage loans, held-for-sale — — 346,250 — 346,250 Residential mortgage loans, held-for-sale, at fair value — — 614,868 — 614,868 Consumer loans, held-for-investment, at fair value — — — 682,932 682,932 Cash and cash equivalents 53,012 39,031 — — 92,043 Restricted cash 2,808 — — 8,090 10,898 Other assets 891 9,151 30,621 9,201 49,864 Total Assets $ 579,612 $ 48,182 $ 1,350,368 $ 700,223 $ 2,678,385 Liabilities Secured notes and bonds payable (A) $ 414,576 $ — $ 1,034,093 $ 628,759 $ 2,077,428 Accrued expenses and other liabilities 1,092 9,455 1,661 764 12,972 Total Liabilities $ 415,668 $ 9,455 $ 1,035,754 $ 629,523 $ 2,090,400 December 31, 2019 Assets Servicer advance investments, at fair value $ 565,271 $ — $ — $ — $ 565,271 Residential mortgage loans, held-for-investment, at fair value — — 913,030 — 913,030 Consumer loans, held-for-investment — — — 818,943 818,943 Cash and cash equivalents 30,065 23,802 — — 53,867 Restricted cash 5,350 — — 9,073 14,423 Other assets 2,414 3,556 4,534 12,409 22,913 Total Assets $ 603,100 $ 27,358 $ 917,564 $ 840,425 $ 2,388,447 Liabilities Secured notes and bonds payable (A) $ 433,300 $ — $ 659,738 $ 820,658 $ 1,913,696 Accrued expenses and other liabilities 1,593 4,187 10,132 4,126 20,038 Total Liabilities $ 434,893 $ 4,187 $ 669,870 $ 824,784 $ 1,933,734 (A) The creditors of the VIEs do not have recourse to the general credit of New Residential, and the assets of the VIEs are not directly available to satisfy New Residential’s obligations.
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net	Others’ interests in the equity of New Residential’s consolidated subsidiaries is computed as follows: December 31, 2020 December 31, 2019 The Buyer (A) Shelter Joint Ventures Consumer Loan Companies The Buyer (A) Shelter Joint Ventures Consumer Loan Companies Total consolidated equity $ 163,944 $ 38,727 $ 96,418 $ 168,207 $ 23,171 $ 46,510 Others’ ownership interest 26.8 % 50.1 % 46.5 % 26.8 % 49.0 % 46.5 % Others’ interest in equity of consolidated subsidiary $ 43,882 $ 19,402 $ 45,384 $ 45,025 $ 11,354 $ 22,171 Others’ interests in the New Residential’s net income (loss) is computed as follows: Year Ended December 31, 2020 Year Ended December 31, 2019 Year Ended December 31, 2018 The Buyer (A) Shelter Joint Ventures Consumer Loan Companies The Buyer (A) Shelter Joint Ventures Consumer Loan Companies The Buyer (A) Shelter Joint Ventures Consumer Loan Companies Net income $ 3,326 $ 31,188 $ 77,760 $ 15,892 $ 12,717 $ 69,143 $ 7,209 $ 3,135 $ 79,539 Others’ ownership interest as a percent of total 26.8 % 50.1 % 46.5 % 26.8 % 49.0 % 46.5 % 27.4 % 51.0 % 46.5 % Others’ interest in net income of consolidated subsidiaries $ 891 $ 15,625 $ 36,158 $ 4,255 $ 6,231 $ 32,151 $ 1,978 $ 1,599 $ 36,987 (A) As a result, New Residential owned 73.2%, 73.2% and 72.6% of the Buyer, on average during the years ended December 31, 2020, 2019 and 2018, respectively. See Note 12 regarding the financing of Servicer Advance Investments.

EQUITY AND ENARNINGS PER SHARE

EQUITY AND ENARNINGS PER SHARE (Tables)	12 Months Ended
EQUITY AND ENARNINGS PER SHARE (Tables)	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of ATM Program Activity	The following table summarizes the Company’s ATM Program activity: Quarter Ended Number of Common shares Average price per share Gross Proceeds Fees Net Proceeds March 31, 2020 (A) 97,394 $ — $ 1,662 $ — $ 1,649 June 30, 2020 — — — — — September 30, 2020 — — — — — December 31, 2020 — — — — — (A) In connection with the shares sold under the ATM program, New Residential granted options to the Manager relating to 0.01 million shares of New Residential’s common stock at the offering price, which had fair value of approximately $0.2 million as of the grant date.
Schedule of Preferred Shares	The table below summarizes Preferred Shares: Number of Shares Liquidation Preference (A) Dividends Declared per Share December 31, Year Ended December 31, Series 2020 2019 2020 2019 Issuance Discount Carrying Value 2020 2019 2018 Fixed-to-floating rate cumulative redeemable preferred: Series A, 7.50% issued July 2019 6,210 6,210 $ 155,250 $ 155,250 3.15 % $ 150,026 $ 1.88 $ 1.16 $ — Series B, 7.125% issued August 2019 11,300 11,300 282,500 282,500 3.15 % 273,418 1.78 0.89 — Series C, 6.375% issued February 2020 16,100 — 402,500 — 3.15 % 389,548 1.60 — — Total 33,610 17,510 $ 840,250 $ 437,750 $ 812,992 $ 5.26 $ 2.05 $ — (A) Each series has a liquidation preference of $25.00 per share.
Schedule of Dividends Declared	Common dividends have been declared as follows: Per Share Declaration Date Payment Date Quarterly Dividend Total Amounts Distributed (millions) March 22, 2018 April 2018 0.50 168.1 June 21, 2018 July 2018 0.50 169.9 September 20, 2018 October 2018 0.50 170.2 December 20, 2018 January 2019 0.50 184.6 March 25, 2019 April 2019 0.50 207.7 June 18, 2019 July 2019 0.50 207.8 September 23, 2019 October 2019 0.50 207.8 December 16, 2019 January 2020 0.50 207.8 March 31, 2020 April 2020 0.05 20.8 June 22, 2020 July 2020 0.10 41.6 September 23, 2020 October 2020 0.15 62.4 December 16, 2020 January 2021 0.20 82.9
Schedule of Stockholders' Equity Note, Warrants or Rights	The table below summarizes the 2020 Warrants: Number of Warrants Weighted Average Exercise Price December 31, 2019 outstanding warrants — $ — Granted 43.4 6.79 (A) Exercised — — Expired — — December 31, 2020 outstanding warrants 43.4 $ 6.79 (A) Reflects a reduction in weighted average exercise price due to anti-dilution adjustments effective for dividends in excess of $0.10 a share.
Summary of Outstanding Options	New Residential’s outstanding options were summarized as follows: December 31, 2020 2019 Held by the Manager 11,991,622 10,511,167 Issued to the Manager and subsequently assigned to certain of the Manager’s employees 2,430,033 2,290,749 Issued to the independent directors 7,000 7,000 Total 14,428,655 12,808,916 The following table summarizes New Residential’s outstanding options as of December 31, 2020. The last sales price on the New York Stock Exchange for New Residential’s common stock in the year ended December 31, 2020 was $9.94 per share. Recipient Date of Grant/ Exercise (A) Number of Unexercised Options Options Weighted Average Exercise Price (B) Intrinsic Value of Exercisable Options as of December 31, 2020 Directors Various 7,000 7,000 $ 13.57 $ — Manager (C) 2017 1,130,916 1,130,916 13.95 — Manager (C) 2018 5,320,000 4,735,167 16.67 — Manager (C) 2019 6,351,000 4,327,900 16.13 — Manager (C) 2020 1,619,739 539,913 17.41 — Outstanding 14,428,655 10,740,896 (A) Options expire on the tenth anniversary from date of grant. (B) The exercise prices are subject to adjustment in connection with return of capital dividends. A portion of New Residential’s 2018 dividends was deemed to be a return of capital and the exercise prices were adjusted accordingly. (C) The Manager assigned certain of its options to its employees as follows: Date of Grant to Manager Range of Exercise Prices Total Unexercised 2018 $16.55 to $18.02 1,159,833 2019 $15.14 to $16.68 1,270,200 Total 2,430,033 The following table summarizes activity in New Residential’s outstanding options: Amount Weighted Average Exercise Price December 31, 2018 outstanding options 8,498,138 Options granted 6,352,000 $ 16.20 Options exercised (2,041,222) $ 13.88 Options expired unexercised — December 31, 2019 outstanding options 12,808,916 Options granted 1,619,739 $ 17.41 Options exercised — $ — Options expired unexercised — December 31, 2020 outstanding options 14,428,655 See table above
Schedule of Basic and Diluted Earnings Per Share	The following table summarizes the basic and diluted earnings per share calculations: Year Ended December 31, 2020 2019 2018 Net income (loss) $ (1,357,684) $ 605,933 $ 1,004,531 Noncontrolling interests in income of consolidated subsidiaries 52,674 42,637 40,564 Dividends on preferred stock 54,295 13,281 — Net income (loss) attributable to common stockholders $ (1,464,653) $ 550,015 $ 963,967 Basic weighted average shares of common stock outstanding 415,513,187 408,789,642 341,268,923 Dilutive effect of stock options (A) — 200,465 1,868,438 Dilutive effect of common stock purchase warrants (A) — — — Diluted weighted average shares of common stock outstanding 415,513,187 408,990,107 343,137,361 Basic earnings per share attributable to common stockholders $ (3.52) $ 1.35 $ 2.82 Diluted earnings per share attributable to common stockholders $ (3.52) $ 1.34 $ 2.81 (A) Stock options and common stock purchase warrants that could potentially dilute basic earnings per share in the future were not included in the computation of diluted earnings per share for the periods where a loss has been recorded because they would have been anti-dilutive for the period presented.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The Company excluded the following weighted-average potential common shares from the calculation of diluted net income (loss) per share during the applicable periods because their inclusion would have been anti-dilutive: Year Ended December 31, 2020 2019 2018 Stock options $ — $ — $ — Common stock purchase warrants 7,328,961 — —

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Commitments for Non-Cancelable Leases	As of December 31, 2020, future commitments under the non-cancelable leases are as follows: Year Ending Amount 2021 $ 13,439 2022 10,118 2023 5,887 2024 2,770 2025 2,146 2026 and thereafter — Total remaining undiscounted lease payments 34,360 Less: imputed interest 3,090 Total remaining discounted lease payments $ 31,270
Other Information Related to Operating Leases	Other information related to operating leases is summarized below: December 31, 2020 2019 Weighted-average remaining lease term (years) 3.2 3.9 Weighted-average discount rate 4.5 % 4.5 %

TRANSACTIONS WITH AFFILIATES _2

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Schedule of Affiliate Transactions	Due to affiliates is composed of the following amounts: December 31, 2020 2019 Management fees $ 7,478 $ 7,076 Incentive compensation — 91,892 Expense reimbursements and other 1,972 4,914 Total $ 9,450 $ 103,882 Affiliate expenses and fees were comprised of: Year Ended December 31, 2020 2019 2018 Management fees $ 89,134 $ 79,472 $ 62,594 Incentive compensation — 91,892 94,900 Expense reimbursements (A) 500 500 500 Total $ 89,634 $ 171,864 $ 157,994 (A) Included in General and Administrative Expenses in the Consolidated Statements of Income.

RECLASSIFICATION FROM ACCUMUL_2

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME (Tables)	12 Months Ended
	Dec. 31, 2020
Equity [Abstract]
Summary of Amounts Reclassified out of Accumulated Other Comprehensive Income into Net Income	The following table summarizes the amounts reclassified out of accumulated other comprehensive income into net income: Accumulated Other Comprehensive Income Components Statement of Income Location Year Ended December 31, 2020 2019 2018 Reclassification of net realized (gain) loss on securities into earnings Gain (loss) on settlement of investments, net $ (753,713) $ (205,989) $ 29,936 Reclassification of net realized (gain) loss on securities into earnings Other-than-temporary impairment on securities 13,404 25,174 30,017 Total reclassifications $ (740,309) $ (180,815) $ 59,953

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense (Benefit)	Income tax (benefit) expense consists of the following: Year Ended December 31, 2020 2019 2018 Current: Federal $ (2,197) $ 148 $ 6,146 State and Local 4,084 3,411 477 Total Current Income Tax Expense (Benefit) 1,887 3,559 6,623 Deferred: Federal 17,516 28,939 (68,907) State and Local (2,487) 9,268 (11,147) Total Deferred Income Tax Expense (Benefit) 15,029 38,207 (80,054) Total Income Tax (Benefit) Expense $ 16,916 $ 41,766 $ (73,431)
Schedule of Reported Provision for Income Taxes and the U.S. Federal Statutory Rate	The difference between New Residential’s reported provision for income taxes and the U.S. federal statutory rate of 21% is as follows: December 31, 2020 2019 2018 Provision at the statutory rate 21.00 % 21.00 % 21.00 % Non-taxable REIT income (26.30) % (16.26) % (25.44) % State and local taxes 3.70 % 2.36 % (1.19) % Change in valuation allowance — % — % (2.31) % Change in federal tax rate — % — % — % Other 0.43 % 0.66 % (0.30) % Total provision (1.17) % 7.76 % (8.24) %
Schedule of Deferred Tax Assets and Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liability are presented below: December 31, 2020 2019 Deferred tax assets: Net operating losses and tax credit carryforwards (A) $ 5,636 $ 79,897 Basis Differences related to assets and investments 18,868 16,279 Unrealized mark to market 75 10,084 Other 630 1,194 Total deferred tax assets 25,209 107,454 Less valuation allowance — — Net deferred tax assets $ 25,209 $ 107,454 Deferred tax liabilities: Mortgage servicing rights $ (16,189) $ (65,582) Basis Differences related to assets and investments (12,539) (29,022) Fixed asset depreciation (1,231) (4,181) Other (3,109) — Total deferred tax (liability) $ (33,068) $ (98,785) Net deferred tax assets (liability) $ (7,859) $ 8,669 (A) As of December 31, 2020, New Residential’s TRSs had approximately $15.0 million of net operating loss carryforwards for federal and state income tax purposes which may be available to offset future taxable income, if and when it arises. Approximately, $13.8 million of these federal and state net operating loss carryforwards will begin to expire in 2034. The utilization of the net operating loss carryforwards to reduce future income taxes will depend on the TRSs ability to generate sufficient taxable income prior to the expiration of the carryforward period.
Schedule of Taxable Common Stock Distributions	Common stock distributions were taxable as follows: Year Dividends Ordinary Long-term Return 2020 (A) $ 0.62 78.01 % — % 21.99 % 2019 (B) 1.87 77.53 % 15.82 % 6.65 % 2018 (C) 1.60 78.03 % 1.03 % 20.94 % (A) The entire $0.20 per share dividend declared in December 2020 and paid in January 2021 is treated as received by stockholders in 2021. (B) The entire $0.50 per share dividend declared in December 2019 and paid in January 2020 is treated as received by stockholders in 2020. (C) The entire $0.50 per share dividend declared in December 2018 and paid in January 2019 is treated as received by stockholders in 2019. Series A Preferred stock distributions were as follows: Year Dividends Ordinary Long-term Return 2020 (A) $ 1.88 100 % — % — % 2019 $ 0.69 84.18 % 15.82 % — % (A) The entire $0.47 per share dividend declared in December 2020 and paid in January 2021 is treated as received by stockholders in 2021. Series B Preferred stock distributions were as follows: Year Dividends Ordinary Long-term Return 2020 (A) $ 1.78 100 % — % — 2019 $ 0.45 84.18 % 15.82 % — % (A) The entire $0.45 per share dividend declared in December 2020 and paid in January 2021 is treated as received by stockholders in 2021. Series C Preferred stock distributions were as follows: Year Dividends Ordinary Long-term Return 2020 (A) $ 1.20 100 % — % — % (A) The entire $0.40 per share dividend declared in December 2020 and paid in January 2021 is treated as received by stockholders in 2021.

ORGANIZATION - Narrative (Detai

ORGANIZATION - Narrative (Details) - shares	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Common stock, shares outstanding (in shares)	414,744,518	415,520,780
Stock options outstanding (in shares)	14,428,655
Fortress-managed funds
Related Party Transaction [Line Items]
Common stock, shares outstanding (in shares)	2,400,000
Stock options outstanding (in shares)	12,000,000

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Cash and Cash Equivalents [Line Items]
Restricted cash	$ 135,619	$ 162,197
Increase in retained earnings due to adoption of new acocunting standard	(1,108,929)	549,733
Cumulative Effect, Period of Adoption, Adjustment
Cash and Cash Equivalents [Line Items]
Increase in retained earnings due to adoption of new acocunting standard		13,700
Increase in consumer loans, at fair value due to adoption of new accounting guidance		(19,700)
Decrease in residential mortgage loans, due to adoption of new accounting guidance		6,000
Government Guaranteed Mortgage Loans upon Foreclosure Receivable
Cash and Cash Equivalents [Line Items]
Claims receivable	16,200
Ginnie Mae
Cash and Cash Equivalents [Line Items]
Restricted cash	4,700	4,700
MSRs
Cash and Cash Equivalents [Line Items]
Restricted cash	51,900	61,100
Real Estate Securities
Cash and Cash Equivalents [Line Items]
Restricted cash	15,700	0
Single Family Rental Properties
Cash and Cash Equivalents [Line Items]
Restricted cash	100	0
Servicer Advance Investments
Cash and Cash Equivalents [Line Items]
Restricted cash	36,300	64,000
Consumer Loan
Cash and Cash Equivalents [Line Items]
Restricted cash	27,000	$ 32,400
Residential Mortgage Loans
Cash and Cash Equivalents [Line Items]
Unpaid principal balance	$ 290,900

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Other Assets and Other Liabilities (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Other Assets
Margin receivable, net		$ 271,753	$ 280,176
Servicing fee receivables		137,426	159,607
Due from servicers		67,854	163,961
Principal and interest receivable		41,589	85,191
Equity investment		55,504	114,763
Other receivables		109,111	117,045
REO		45,299	93,672
Single-family rental properties		41,271	24,133
Goodwill		29,468	29,737
Notes Receivable		52,389	37,001
Warrants, at fair value		23,218	28,042
Recovery asset		13,006	23,100
Property and equipment		27,493	18,018
Receivable from government agency		14,369	19,670
Intangible assets		34,125	40,963
Prepaid expenses		30,949	19,249
Operating lease right-of-use assets		26,913	32,120
Derivative assets		290,144	41,501
Ocwen common stock, at fair value		11,187	7,952
Deferred tax asset		0	8,669
Deferred financing costs, net		886	0
Other assets		34,468	51,230
Total other assets	[1]	1,358,422	1,395,800
Accrued Expenses and Other Liabilities
MSRs purchase price holdback		25,121	75,348
Interest payable		44,623	68,668
Accounts payable		87,406	119,771
Derivative liabilities		119,762	6,885
Due to servicers		59,671	102,411
Due to Agencies		26,748	25,435
Contingent consideration		14,247	55,222
Accrued compensation and benefits		67,025	41,228
Excess spread financing, at fair value		18,420	31,777
Operating lease liability		$ 31,270	$ 38,520
Operating Lease, Liability, Statement of Financial Position [Extensible List]		us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Reserve for sales recourse		$ 9,799	$ 12,549
Reserve for servicing losses		9,288	0
Deferred tax liability		7,859	0
Other liabilities		16,063	22,976
Total accrued expenses and other liabilities	[1]	$ 537,302	$ 600,790

[1]	See Note 14 regarding consolidated variable interest entities.

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Real Estate Owned (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Real Estate Owned [Roll Forward]
Beginning balance	$ 117,805	$ 113,410
Purchases	23,640	68,024
Transfer of loans to real estate owned	43,409	86,167
Sales	(101,035)	(150,431)
Valuation (provision) reversal on REO	2,751	635
Ending balance	$ 86,570	$ 117,805

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Accretion and Other Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Accretion of net discount on securities and loans	$ 96,148	$ 323,652	$ 452,500
Accretion of servicer advances receivable discount and servicer advance investments	55,664	28,094	214,876
Accretion of excess mortgage servicing rights income	28,352	32,647	44,440
Amortization of deferred financing costs	(22,733)	(4,019)	(7,795)
Accretion and other amortization	151,540	379,129	701,967
Secured Notes And Bonds Payable
Debt Instrument [Line Items]
Amortization of debt	(388)	(1,245)	(2,054)
Term Loan
Debt Instrument [Line Items]
Amortization of debt	$ (5,503)	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Change in Fair Value of Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Income Assets And Liabilities
Excess mortgage servicing rights	$ (16,232)	$ (10,505)	$ (58,656)
Excess mortgage servicing rights, equity method investees	(3,489)	6,800	8,357
Change in fair value of MSR financing receivables	(279,168)	(189,023)	31,550
Servicer advance investments	763	10,288	(89,332)
Real estate and other securities	28,455	2,101	10,283
Residential mortgage loans	(107,604)	(70,914)	69,820
Consumer loans held-for-investment	(6,384)	0	0
Derivative instruments	(53,467)	(56,143)	(108,234)
Change in fair value of investments	$ (437,126)	$ (307,396)	$ (136,212)

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Gain (Loss) on Settlement of Investments, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Gain (loss) on sale of real estate securities	$ (753,713)	$ 205,989	$ (29,936)
Gain (loss) on sale of acquired residential mortgage loans	(5,662)	153,174	(7,677)
Gain (loss) on settlement of derivatives	(74,812)	(129,923)	54,867
Gain (loss) on liquidated residential mortgage loans	4,644	(4,872)	(3,734)
Gain (loss) on sale of REO	(21,925)	(11,521)	(12,424)
Gain (loss) on extinguishment of debt	(66,233)	(8,532)	(624)
Gain on settlement of investments in excess MSRs and Servicer advance investments	0	0	113,002
Other gains (losses)	(12,430)	23,666	(17,410)
Change in fair value of investments	$ (930,131)	$ 227,981	$ 96,064

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Other Income (Loss), Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other income (loss), net
Unrealized gain (loss) on secured notes and bonds payable	$ (966)	$ (1,236)	$ (684)
Unrealized gain (loss) on contingent consideration	(6,568)	(10,487)	(1,581)
Unrealized gain (loss) on equity investments	(54,455)	(3,096)	(677)
Gain (loss) on transfer of loans to REO	7,945	11,842	19,519
Gain (loss) on transfer of loans to other assets	(939)	(1,144)	(1,977)
Gain (loss) on Ocwen common stock	3,235	174	(10,860)
Provision for servicing losses	(15,330)	(9,102)	(27)
Bargain Purchase Gain	0	49,539	0
Rental and ancillary revenue	25,409	6,732	0
Property and maintenance revenue	70,527	14,449	0
Rental and ancillary revenue	(31,655)	(17,852)	(25,697)
Other income (loss), net	$ (2,797)	$ 39,819	$ (21,984)
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PrepaidExpenseAndOtherAssets	us-gaap:PrepaidExpenseAndOtherAssets
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of General and Administrative Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Other Income [Line Items]
Legal and professional expense	$ 70,502	$ 89,489	$ 45,234
Loan origination expense	92,081	45,483	6,820
Occupancy expense	36,799	19,388	8,868
Subservicing expense	201,444	227,482	176,784
Loan servicing expense	14,126	31,737	43,547
Property and maintenance expense	42,508	8,112	0
Other	90,981	74,791	50,763
General and administrative expense	1,120,087	781,971	441,886
Servicing
Schedule Of Other Income [Line Items]
Compensation and benefits expense	230,009	121,004	47,084
Origination
Schedule Of Other Income [Line Items]
Compensation and benefits expense	$ 341,637	$ 164,485	$ 62,786

BUSINESS ACQUISITIONS - Schedul

BUSINESS ACQUISITIONS - Schedule of Purchase Price Allocation (Details) - USD ($) $ in Thousands	Oct. 01, 2019	Sep. 03, 2019	Jul. 03, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Liabilities
Goodwill (bargain purchase gain)				$ 29,468	$ 29,737
Mortgage servicing rights, at fair value				$ 3,489,675	3,967,960
Total Acquisitions
Business Acquisition [Line Items]
Total Consideration ($ in millions)					1,239,700
Assets
Mortgage servicing rights, at fair value					387,200
Residential mortgage loans, held-for-investment, at fair value					0
Residential mortgage loans, held-for-sale, at fair value					627,400
Residential mortgage loans subject to repurchase					0
Cash and cash equivalents					1,800
Restricted cash					0
Servicer advance receivable					238,000
Intangible assets					22,200
Other assets					71,400
Total Assets Acquired					1,348,000
Liabilities
Secured financing agreements					0
Secured notes and bonds payable					0
Mortgage-backed securities issued, at fair value					0
Residential mortgage loans repurchase liability					0
Excess spread financing, at fair value					0
Accrued expenses and other liabilities					63,900
Total Liabilities Assumed					63,900
Noncontrolling Interest					0
Net Assets					1,284,100
Goodwill (bargain purchase gain)					(44,400)
Ditech
Business Acquisition [Line Items]
Total Consideration ($ in millions)	$ 1,218,200				1,218,200
Assets
Mortgage servicing rights, at fair value					387,200
Residential mortgage loans, held-for-investment, at fair value					0
Residential mortgage loans, held-for-sale, at fair value					627,400
Residential mortgage loans subject to repurchase					0
Cash and cash equivalents					0
Restricted cash					0
Servicer advance receivable					238,000
Intangible assets					10,500
Other assets					64,800
Total Assets Acquired					1,327,900
Liabilities
Secured financing agreements					0
Secured notes and bonds payable					0
Mortgage-backed securities issued, at fair value					0
Residential mortgage loans repurchase liability					0
Excess spread financing, at fair value					0
Accrued expenses and other liabilities					60,200
Total Liabilities Assumed					60,200
Noncontrolling Interest					0
Net Assets					1,267,700
Goodwill (bargain purchase gain)					(49,500)
Guardian
Business Acquisition [Line Items]
Total Consideration ($ in millions)		$ 21,500			21,500
Assets
Mortgage servicing rights, at fair value					0
Residential mortgage loans, held-for-investment, at fair value					0
Residential mortgage loans, held-for-sale, at fair value					0
Residential mortgage loans subject to repurchase					0
Cash and cash equivalents					1,800
Restricted cash					0
Servicer advance receivable					0
Intangible assets					11,700
Other assets					6,600
Total Assets Acquired					20,100
Liabilities
Secured financing agreements					0
Secured notes and bonds payable					0
Mortgage-backed securities issued, at fair value					0
Residential mortgage loans repurchase liability					0
Excess spread financing, at fair value					0
Accrued expenses and other liabilities					3,700
Total Liabilities Assumed					3,700
Noncontrolling Interest					0
Net Assets					16,400
Goodwill (bargain purchase gain)		$ 5,100			$ 5,100
Shellpoint
Business Acquisition [Line Items]
Total Consideration ($ in millions)			$ 425,500			$ 425,500
Assets
Mortgage servicing rights, at fair value						286,600
Residential mortgage loans, held-for-investment, at fair value						125,300
Residential mortgage loans, held-for-sale, at fair value						488,200
Residential mortgage loans subject to repurchase						121,400
Cash and cash equivalents						79,200
Restricted cash						9,900
Servicer advance receivable						22,400
Intangible assets						18,400
Other assets						59,100
Total Assets Acquired						1,210,500
Liabilities
Secured financing agreements						439,600
Secured notes and bonds payable						20,700
Mortgage-backed securities issued, at fair value						120,700
Residential mortgage loans repurchase liability						121,400
Excess spread financing, at fair value						48,300
Accrued expenses and other liabilities						50,600
Total Liabilities Assumed						801,300
Noncontrolling Interest						8,300
Net Assets						400,900
Goodwill (bargain purchase gain)			24,600			$ 24,600
Ginnie Mae \| Shellpoint
Liabilities
Mortgage servicing rights, at fair value			$ 135,300
Customer relationships and servicing contracts \| Ditech
Liabilities
Finite-lived intangible assets, useful life				3 years
Customer relationships and trade names \| Guardian
Liabilities
Finite-lived intangible assets, useful life				7 years
Internally developed software \| Shellpoint
Liabilities
Finite-lived intangible assets, useful life				5 years
Tradenames \| Shellpoint
Liabilities
Finite-lived intangible assets, useful life				6 months

BUSINESS ACQUISITIONS - Narrati

BUSINESS ACQUISITIONS - Narrative (Details) $ in Thousands	Apr. 10, 2020USD ($)	Oct. 01, 2019USD ($)employee	Sep. 03, 2019USD ($)earnout_payment	May 01, 2019USD ($)	Jul. 03, 2018USD ($)earnout_payment	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Aug. 19, 2019
Business Acquisition [Line Items]
Bargain purchase gain							$ 0	$ 49,539	$ 0
Effective settlement of preexisting relationships							0	4,919	0
Contingent consideration						$ 55,222	14,247	55,222
Goodwill						29,737	29,468	29,737
Subordinated debt facility						37,001	52,389	37,001
Intangible assets						40,963	34,125	40,963
Covius Holdings Inc.
Business Acquisition [Line Items]
Goodwill				$ 11,800
Strategic investment				27,300
Subordinated debt facility				$ 35,000
Note receivable, term				4 years
Intangible assets				$ 3,600
Ditech Acquisition
Business Acquisition [Line Items]
Cash consideration		$ 1,213,300
Number of employees \| employee		1,100
Bargain purchase gain								49,500
Transition, integration, relocation, and training costs incurred								22,900
Effective settlement of preexisting relationships		$ 4,900
Goodwill						(49,500)		(49,500)
Guardian
Business Acquisition [Line Items]
Cash consideration			$ 7,600
Contingent consideration, high			17,500
Contingent consideration			13,900			13,893	0	13,893	0
Goodwill			5,100			5,100		5,100
Goodwill, expected tax deductible amount			5,100
Guardian \| NRZ Guardian Purchaser LLC
Business Acquisition [Line Items]
Cash consideration	$ 1,900		$ 7,600
Equity interest acquired			100.00%							100.00%
Number of earnout payments \| earnout_payment			4
Contingent consideration, high			$ 17,500
Shellpoint Acquisition
Business Acquisition [Line Items]
Cash consideration					$ 212,300
Effective settlement of preexisting relationships					173,900
Contingent consideration, high					60,000
Contingent consideration					39,300	0	$ 0	$ 0	39,300
Goodwill					24,600				$ 24,600
Goodwill, expected tax deductible amount					24,600
Decrease to contingent consideration						(3,500)
Decrease to consideration transferred						(6,400)
Increase to the fair value of identifiable intangible assets						14,100
Increase to other assets						300
Decrease to goodwill						$ (24,300)
Shellpoint Acquisition \| NRM Acquisition LLC
Business Acquisition [Line Items]
Cash consideration					$ 212,300
Equity interest acquired					100.00%
Number of earnout payments \| earnout_payment					3
Contingent consideration, high					$ 60,000

BUSINESS ACQUISITIONS - Sched_2

BUSINESS ACQUISITIONS - Schedule of Total Consideration (Details) - USD ($)	Oct. 01, 2019	Sep. 03, 2019	Jul. 03, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Effective settlement of preexisting relationships				$ 0	$ 4,919,000	$ 0
Ditech Acquisition
Business Acquisition [Line Items]
Cash Consideration	$ 1,213,300,000
Effective settlement of preexisting relationships	4,900,000
Total Consideration	$ 1,218,200,000				1,218,200,000
Guardian
Business Acquisition [Line Items]
Cash Consideration		$ 7,600,000
Earnout Payment		13,900,000
Total Consideration		21,500,000			$ 21,500,000
Contingent consideration, low		0
Contingent consideration, high		$ 17,500,000
Shellpoint Acquisition
Business Acquisition [Line Items]
Cash Consideration			$ 212,300,000
Earnout Payment			39,300,000
Effective settlement of preexisting relationships			173,900,000
Total Consideration			425,500,000			$ 425,500,000
Contingent consideration, low			0
Contingent consideration, high			$ 60,000,000
Contingent consideration, earnout payment period			3 years

BUSINESS ACQUISITIONS - Sched_3

BUSINESS ACQUISITIONS - Schedule of Unaudited Supplemental Pro Forma Financial Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Ditech Acquisition
Pro Forma (in millions)
Servicing and Origination Revenue	$ 1,104	$ 1,238.1
Income Before Income Taxes	552.8	923.3
Guardian
Pro Forma (in millions)
Income Before Income Taxes	$ 651.5	932.2
Shellpoint Acquisition
Pro Forma (in millions)
Servicing and Origination Revenue		767	$ 749
Income Before Income Taxes		$ 948.1	$ 1,197.5

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) - USD ($) $ in Thousands	12 Months Ended
SEGMENT REPORTING (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Interest income	$ 1,102,537	$ 1,766,130	$ 1,664,223
Servicing revenue, net	(555,041)	385,159	528,595
Gain on originated mortgage loans, held-for-sale, net	1,399,092	460,107	86,065
Revenues	1,946,588	2,611,396	2,278,883
Interest expense	584,469	933,751	606,433
G&A and other	1,209,221	953,335	599,380
Total operating expenses	1,793,690	1,887,086	1,205,813
Change in fair value of investments	(437,126)	(307,396)	(136,212)
Gain (loss) on settlement of investments, net	(930,131)	227,981	96,064
Other income (loss), net	(2,797)	38,381	(11,181)
Total other income (loss)	(1,370,054)	(41,034)	(51,329)
Impairment	123,612	35,577	90,641
Income (Loss) Before Income Taxes	(1,340,768)	647,699	931,100
Income tax (benefit) expense	16,916	41,766	(73,431)
Net Income (Loss)	(1,357,684)	605,933	1,004,531
Noncontrolling interests in income (loss) of consolidated subsidiaries	52,674	42,637	40,564
Dividends on preferred stock	54,295	13,281	0
Net income (loss) attributable to common stockholders	(1,464,653)	550,015	963,967
Investments	26,441,337	34,337,137
Cash and cash equivalents	944,854	528,737
Restricted cash	135,619	162,197
Other assets	5,700,836	9,805,646
Goodwill	29,468	29,737
Total assets	33,252,114	44,863,454
Debt	25,733,391	35,636,373
Other liabilities	2,089,039	1,990,821
Total liabilities	27,822,430	37,627,194
Total equity	5,429,684	7,236,260	6,088,295	$ 4,796,162
Noncontrolling interests in equity of consolidated subsidiaries	108,668	78,550
Total New Residential stockholders’ equity	5,321,016	7,157,710
Investments in equity method investees	129,873	165,848
Operating Segments
Segment Reporting Information [Line Items]
Debt	25,191,875	35,636,373	22,656,235
Operating Segments \| Servicing and Origination
Segment Reporting Information [Line Items]
Interest income	446,146	606,404	723,965
Servicing revenue, net	(555,041)	385,159	528,595
Gain on originated mortgage loans, held-for-sale, net	1,400,552	384,564	77,308
Revenues	1,291,657	1,376,127	1,329,868
Interest expense	279,790	289,286	242,345
G&A and other	1,018,488	685,110	350,865
Total operating expenses	1,298,278	974,396	593,210
Change in fair value of investments	(298,126)	(182,440)	(108,081)
Gain (loss) on settlement of investments, net	(16,713)	8,030	121,814
Other income (loss), net	38,385	45,443	606
Total other income (loss)	(276,454)	(128,967)	14,339
Impairment	141	0	0
Income (Loss) Before Income Taxes	(283,216)	272,764	750,997
Income tax (benefit) expense	81,352	70,729	(8,364)
Net Income (Loss)	(364,568)	202,035	759,361
Noncontrolling interests in income (loss) of consolidated subsidiaries	16,516	10,486	3,577
Dividends on preferred stock	0	0	0
Net income (loss) attributable to common stockholders	(381,084)	191,549	755,784
Investments	8,481,865	8,187,881
Cash and cash equivalents	595,500	428,176
Restricted cash	92,867	129,827
Other assets	5,296,601	3,875,554
Goodwill	29,468	29,737
Total assets	14,496,301	12,651,175
Debt	8,702,958	7,984,192
Other liabilities	1,908,778	620,221
Total liabilities	10,611,736	8,604,413
Total equity	3,884,565	4,046,762
Noncontrolling interests in equity of consolidated subsidiaries	63,284	56,379
Total New Residential stockholders’ equity	3,821,281	3,990,383
Investments in equity method investees	129,873	165,848
Operating Segments \| Consumer Loans
Segment Reporting Information [Line Items]
Interest income	124,512	165,877	206,321
Servicing revenue, net	0	0	0
Gain on originated mortgage loans, held-for-sale, net	0	0	0
Revenues	124,512	165,877	206,321
Interest expense	22,587	32,558	42,563
G&A and other	10,301	22,540	35,230
Total operating expenses	32,888	55,098	77,793
Change in fair value of investments	(6,384)	0	0
Gain (loss) on settlement of investments, net	(4,183)	(8,425)	0
Other income (loss), net	814	(1,574)	9,965
Total other income (loss)	(9,753)	(9,999)	9,965
Impairment	0	31,010	48,563
Income (Loss) Before Income Taxes	81,871	69,770	89,930
Income tax (benefit) expense	779	(502)	212
Net Income (Loss)	81,092	70,272	89,718
Noncontrolling interests in income (loss) of consolidated subsidiaries	36,158	32,151	36,987
Dividends on preferred stock	0	0	0
Net income (loss) attributable to common stockholders	44,934	38,121	52,731
Investments	685,575	827,545
Cash and cash equivalents	3,182	6,514
Restricted cash	27,004	32,370
Other assets	38,465	78,740
Goodwill	0	0
Total assets	754,226	945,169
Debt	628,759	824,222
Other liabilities	622	16,795
Total liabilities	629,381	841,017
Total equity	124,845	104,152
Noncontrolling interests in equity of consolidated subsidiaries	45,384	22,171
Total New Residential stockholders’ equity	79,461	81,981
Investments in equity method investees	0	0
Operating Segments \| Origination \| Servicing and Origination
Segment Reporting Information [Line Items]
Interest income	63,160	42,166	12,430
Servicing revenue, net	(11,519)	(1,605)	(450)
Gain on originated mortgage loans, held-for-sale, net	1,289,584	390,981	98,987
Revenues	1,341,225	431,542	110,967
Interest expense	45,676	41,949	10,018
G&A and other	494,398	252,458	95,551
Total operating expenses	540,074	294,407	105,569
Change in fair value of investments	0	0	0
Gain (loss) on settlement of investments, net	0	0	0
Other income (loss), net	433	9,340	2,067
Total other income (loss)	433	9,340	2,067
Impairment	0	0	0
Income (Loss) Before Income Taxes	801,584	146,475	7,465
Income tax (benefit) expense	211,359	39,768	1,916
Net Income (Loss)	590,225	106,707	5,549
Noncontrolling interests in income (loss) of consolidated subsidiaries	15,625	6,231	1,599
Dividends on preferred stock	0	0	0
Net income (loss) attributable to common stockholders	574,600	100,476	3,950
Investments	2,947,113	1,414,528
Cash and cash equivalents	123,124	77,237
Restricted cash	14,826	6,730
Other assets	551,910	250,709
Goodwill	11,836	11,836
Total assets	3,648,809	1,761,040
Debt	2,700,962	1,304,621
Other liabilities	298,106	117,328
Total liabilities	2,999,068	1,421,949
Total equity	649,741	339,091
Noncontrolling interests in equity of consolidated subsidiaries	19,402	11,354
Total New Residential stockholders’ equity	630,339	327,737
Investments in equity method investees	0	0
Operating Segments \| Servicing \| Servicing and Origination
Segment Reporting Information [Line Items]
Interest income	8,288	34,013	8,148
Servicing revenue, net	417,438	209,982	75,388
Gain on originated mortgage loans, held-for-sale, net	1,722	1,029	0
Revenues	427,448	245,024	83,536
Interest expense	495	1,043	264
G&A and other	294,594	170,516	64,633
Total operating expenses	295,089	171,559	64,897
Change in fair value of investments	0	0	0
Gain (loss) on settlement of investments, net	0	0	0
Other income (loss), net	499	5,343	0
Total other income (loss)	499	5,343	0
Impairment	0	0	0
Income (Loss) Before Income Taxes	132,858	78,808	18,639
Income tax (benefit) expense	32,810	21,396	4,785
Net Income (Loss)	100,048	57,412	13,854
Noncontrolling interests in income (loss) of consolidated subsidiaries	0	0	0
Dividends on preferred stock	0	0	0
Net income (loss) attributable to common stockholders	100,048	57,412	13,854
Investments	0	0
Cash and cash equivalents	59,798	32,225
Restricted cash	49,913	15,769
Other assets	206,646	204,723
Goodwill	12,540	12,809
Total assets	328,897	265,526
Debt	3,285	33,412
Other liabilities	89,713	51,264
Total liabilities	92,998	84,676
Total equity	235,899	180,850
Noncontrolling interests in equity of consolidated subsidiaries	0	0
Total New Residential stockholders’ equity	235,899	180,850
Investments in equity method investees	0	0
Operating Segments \| MSR Related Investments \| Servicing and Origination
Segment Reporting Information [Line Items]
Interest income	374,698	530,225	703,387
Servicing revenue, net	(743,987)	225,361	463,842
Gain on originated mortgage loans, held-for-sale, net	69,714	43,914	(4,511)
Revenues	(299,575)	799,500	1,162,718
Interest expense	233,619	246,294	232,063
G&A and other	446,469	310,715	200,866
Total operating expenses	680,088	557,009	432,929
Change in fair value of investments	(298,126)	(182,440)	(108,081)
Gain (loss) on settlement of investments, net	(16,713)	8,030	121,814
Other income (loss), net	37,453	30,760	(1,461)
Total other income (loss)	(277,386)	(143,650)	12,272
Impairment	141	0	0
Income (Loss) Before Income Taxes	(1,257,190)	98,841	742,061
Income tax (benefit) expense	(162,817)	9,565	(15,065)
Net Income (Loss)	(1,094,373)	89,276	757,126
Noncontrolling interests in income (loss) of consolidated subsidiaries	891	4,255	1,978
Dividends on preferred stock	0	0	0
Net income (loss) attributable to common stockholders	(1,095,264)	85,021	755,148
Investments	5,534,752	6,773,353
Cash and cash equivalents	412,578	318,714
Restricted cash	28,128	107,328
Other assets	4,538,045	3,420,122
Goodwill	5,092	5,092
Total assets	10,518,595	10,624,609
Debt	5,998,711	6,646,159
Other liabilities	1,520,959	451,629
Total liabilities	7,519,670	7,097,788
Total equity	2,998,925	3,526,821
Noncontrolling interests in equity of consolidated subsidiaries	43,882	45,025
Total New Residential stockholders’ equity	2,955,043	3,481,796
Investments in equity method investees	129,873	165,848
Operating Segments \| Real Estate Securities \| Residential Securities and Loans
Segment Reporting Information [Line Items]
Interest income	355,916	744,145	573,539
Servicing revenue, net	0	0	0
Gain on originated mortgage loans, held-for-sale, net	(13,398)	0	0
Revenues	342,518	744,145	573,539
Interest expense	157,371	453,609	240,615
G&A and other	7,639	3,160	1,554
Total operating expenses	165,010	456,769	242,169
Change in fair value of investments	(25,012)	(54,042)	(97,951)
Gain (loss) on settlement of investments, net	(828,525)	74,927	25,497
Other income (loss), net	2,333	44	(472)
Total other income (loss)	(851,204)	20,929	(72,926)
Impairment	13,404	25,174	30,017
Income (Loss) Before Income Taxes	(687,100)	283,131	228,427
Income tax (benefit) expense	0	0	0
Net Income (Loss)	(687,100)	283,131	228,427
Noncontrolling interests in income (loss) of consolidated subsidiaries	0	0	0
Dividends on preferred stock	0	0	0
Net income (loss) attributable to common stockholders	(687,100)	283,131	228,427
Investments	14,244,558	19,477,728
Cash and cash equivalents	222,372	87,359
Restricted cash	15,652	0
Other assets	232,837	5,590,456
Goodwill	0	0
Total assets	14,715,419	25,155,543
Debt	13,473,239	22,151,110
Other liabilities	20,863	980,415
Total liabilities	13,494,102	23,131,525
Total equity	1,221,317	2,024,018
Noncontrolling interests in equity of consolidated subsidiaries	0	0
Total New Residential stockholders’ equity	1,221,317	2,024,018
Investments in equity method investees	0	0
Operating Segments \| Residential Mortgage Loans \| Residential Securities and Loans
Segment Reporting Information [Line Items]
Interest income	175,963	249,673	158,892
Servicing revenue, net	0	0	0
Gain on originated mortgage loans, held-for-sale, net	11,938	75,543	8,757
Revenues	187,901	325,216	167,649
Interest expense	87,958	158,298	80,910
G&A and other	62,900	52,745	32,424
Total operating expenses	150,858	211,043	113,334
Change in fair value of investments	(107,604)	(70,914)	69,820
Gain (loss) on settlement of investments, net	(19,655)	153,449	(51,757)
Other income (loss), net	(3,220)	(7,150)	(10,364)
Total other income (loss)	(130,479)	75,385	7,699
Impairment	110,067	(20,607)	12,061
Income (Loss) Before Income Taxes	(203,503)	210,165	49,953
Income tax (benefit) expense	(65,215)	(28,461)	(65,279)
Net Income (Loss)	(138,288)	238,626	115,232
Noncontrolling interests in income (loss) of consolidated subsidiaries	0	0	0
Dividends on preferred stock	0	0	0
Net income (loss) attributable to common stockholders	(138,288)	238,626	115,232
Investments	3,029,339	5,843,983
Cash and cash equivalents	7,472	1,180
Restricted cash	96	0
Other assets	86,762	174,940
Goodwill	0	0
Total assets	3,123,669	6,020,103
Debt	2,386,919	4,676,849
Other liabilities	28,577	55,121
Total liabilities	2,415,496	4,731,970
Total equity	708,173	1,288,133
Noncontrolling interests in equity of consolidated subsidiaries	0	0
Total New Residential stockholders’ equity	708,173	1,288,133
Investments in equity method investees	0	0
Elimination
Segment Reporting Information [Line Items]
Interest income	0	0	0
Servicing revenue, net	(216,973)	(48,579)	(10,185)
Gain on originated mortgage loans, held-for-sale, net	39,532	(51,360)	(17,168)
Revenues	(177,441)	(99,939)	(27,353)
Interest expense	0	0	0
G&A and other	(216,973)	(48,579)	(10,185)
Total operating expenses	(216,973)	(48,579)	(10,185)
Change in fair value of investments	0	0	0
Gain (loss) on settlement of investments, net	0	0	0
Other income (loss), net	0	0	0
Total other income (loss)	0	0	0
Impairment	0	0	0
Income (Loss) Before Income Taxes	39,532	(51,360)	(17,168)
Income tax (benefit) expense	0	0	0
Net Income (Loss)	39,532	(51,360)	(17,168)
Noncontrolling interests in income (loss) of consolidated subsidiaries	0	0	0
Dividends on preferred stock	0	0	0
Net income (loss) attributable to common stockholders	39,532	(51,360)	(17,168)
Investments	0	0
Cash and cash equivalents	0	0
Restricted cash	0	0
Other assets	0	0
Goodwill	0	0
Total assets	0	0
Debt	0	0
Other liabilities	0	0
Total liabilities	0	0
Total equity	0	0
Noncontrolling interests in equity of consolidated subsidiaries	0	0
Total New Residential stockholders’ equity	0	0
Investments in equity method investees	0	0
Corporate
Segment Reporting Information [Line Items]
Interest income	0	31	1,506
Servicing revenue, net	0	0	0
Gain on originated mortgage loans, held-for-sale, net	0	0	0
Revenues	0	31	1,506
Interest expense	36,763	0	0
G&A and other	109,893	189,780	179,307
Total operating expenses	146,656	189,780	179,307
Change in fair value of investments	0	0	0
Gain (loss) on settlement of investments, net	(61,055)	0	510
Other income (loss), net	(41,109)	1,618	(10,916)
Total other income (loss)	(102,164)	1,618	(10,406)
Impairment	0	0	0
Income (Loss) Before Income Taxes	(248,820)	(188,131)	(188,207)
Income tax (benefit) expense	0	0	0
Net Income (Loss)	(248,820)	(188,131)	(188,207)
Noncontrolling interests in income (loss) of consolidated subsidiaries	0	0	0
Dividends on preferred stock	54,295	13,281	0
Net income (loss) attributable to common stockholders	(303,115)	(201,412)	$ (188,207)
Investments	0	0
Cash and cash equivalents	116,328	5,508
Restricted cash	0	0
Other assets	46,171	85,956
Goodwill	0	0
Total assets	162,499	91,464
Debt	541,516	0
Other liabilities	130,199	318,269
Total liabilities	671,715	318,269
Total equity	(509,216)	(226,805)
Noncontrolling interests in equity of consolidated subsidiaries	0	0
Total New Residential stockholders’ equity	(509,216)	(226,805)
Investments in equity method investees	$ 0	$ 0

EXCESS MORTGAGE SERVICING RIG_3

EXCESS MORTGAGE SERVICING RIGHTS - Schedule of Excess Mortgage Servicing Rights (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Servicing Assets at Fair Value [Line Items]
Carrying Value	$ 4,585,841	$ 5,686,233	$ 4,528,604
Excess MSRs And Excess Mortgage Servicing Rights Investees
Servicing Assets at Fair Value [Line Items]
Carrying Value	410,855	505,343
Excess MSRs
Servicing Assets at Fair Value [Line Items]
Carrying Value	310,938	379,747
Excess MSRs Investees
Servicing Assets at Fair Value [Line Items]
Carrying Value	$ 99,917	$ 125,596

EXCESS MORTGAGE SERVICING RIG_4

EXCESS MORTGAGE SERVICING RIGHTS - Schedule of Activity Related to the Carrying Value of Investments in Excess MSRs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Carrying Value of Investments in Excess MSRs
Beginning balance	$ 5,686,233	$ 4,528,604
Ending balance	4,585,841	5,686,233
Excess MSRs
Carrying Value of Investments in Excess MSRs
Beginning balance		447,860
Interest income	28,352	32,647
Other income	(12,123)	3,851
Proceeds from repayments	(67,745)	(84,031)
Proceeds from sales	(1,061)	(10,075)
Change in fair value	(16,232)	(10,505)
Excess MSRs \| Mr. Cooper
Carrying Value of Investments in Excess MSRs
Beginning balance	377,692	445,328
Interest income	28,217	32,587
Other income	(12,123)	3,851
Proceeds from repayments	(67,340)	(83,612)
Proceeds from sales	(1,061)	(10,075)
Change in fair value	(16,376)	(10,387)
Ending balance	309,009	377,692
Excess MSRs \| SLS
Carrying Value of Investments in Excess MSRs
Beginning balance	2,055	2,532
Interest income	135	60
Other income	0	0
Proceeds from repayments	(405)	(419)
Proceeds from sales	0	0
Change in fair value	144	(118)
Ending balance	$ 1,929	$ 2,055

EXCESS MORTGAGE SERVICING RIG_5

EXCESS MORTGAGE SERVICING RIGHTS - Summary of Investments in Excess MSRs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Servicing Assets at Fair Value [Line Items]
Weighted Average Life (Years)	2 years 2 months 12 days
Carrying Value	$ 4,585,841	$ 5,686,233	$ 4,528,604
Changes in fair value recorded in other income	(16,232)	(10,505)	$ (58,656)
Corporate Joint Venture \| Servicer Advance Investments
Servicing Assets at Fair Value [Line Items]
UPB of Underlying Mortgages	26,061,499	31,442,267
Excess MSRs
Servicing Assets at Fair Value [Line Items]
UPB of Underlying Mortgages	72,688,905	88,345,237
Amortized Cost Basis	250,901	303,478
Carrying Value	310,938	379,747
Excess MSRs \| Agency
Servicing Assets at Fair Value [Line Items]
UPB of Underlying Mortgages	$ 34,593,406	$ 43,310,917
Weighted Average Life (Years)	5 years 10 months 24 days	5 years 6 months
Amortized Cost Basis	$ 141,204	$ 178,603
Carrying Value	$ 162,645	$ 209,633
Excess MSRs \| Agency \| Minimum \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	(32.50%)	(3250.00%)
Excess MSRs \| Agency \| Maximum \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	(66.70%)	(66.70%)
Excess MSRs \| Agency \| Weighted Average \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	(53.30%)	(53.30%)
Excess MSRs \| Agency \| Fortress-managed funds \| Minimum \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	0.00%	0.00%
Excess MSRs \| Agency \| Fortress-managed funds \| Maximum \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	(40.00%)	(40.00%)
Excess MSRs \| Agency \| Mr. Cooper \| Minimum \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	(20.00%)	(20.00%)
Excess MSRs \| Agency \| Mr. Cooper \| Maximum \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	(35.00%)	(35.00%)
Excess MSRs \| Non-Agency
Servicing Assets at Fair Value [Line Items]
UPB of Underlying Mortgages	$ 38,095,499	$ 45,034,320
Weighted Average Life (Years)	6 years 6 months	6 years 6 months
Amortized Cost Basis	$ 109,697	$ 124,875
Carrying Value	$ 148,293	$ 170,114
Excess MSRs \| Non-Agency \| Minimum \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	(33.30%)	(3330.00%)
Excess MSRs \| Non-Agency \| Maximum \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	(100.00%)	(100.00%)
Excess MSRs \| Non-Agency \| Weighted Average \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	(59.40%)	(59.40%)
Excess MSRs \| Non-Agency \| Fortress-managed funds \| Minimum \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	0.00%	0.00%
Excess MSRs \| Non-Agency \| Fortress-managed funds \| Maximum \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	(50.00%)	(50.00%)
Excess MSRs \| Non-Agency \| Mr. Cooper \| Minimum \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	0.00%	0.00%
Excess MSRs \| Non-Agency \| Mr. Cooper \| Maximum \| Original and Recaptured Pools
Servicing Assets at Fair Value [Line Items]
Interest in Excess MSR	(33.30%)	(33.30%)

EXCESS MORTGAGE SERVICING RIG_6

EXCESS MORTGAGE SERVICING RIGHTS - Narrative (Details)	12 Months Ended
EXCESS MORTGAGE SERVICING RIGHTS - Narrative (Details)	Dec. 31, 2020	Dec. 31, 2019
MSRs \| Excess MSRs Investees
Servicing Assets at Fair Value [Line Items]
Discount rate	7.80%	7.80%

EXCESS MORTGAGE SERVICING RIG_7

EXCESS MORTGAGE SERVICING RIGHTS - Summary of Financial Results of Excess MSR Joint Ventures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of MSRs [Line Items]
Other assets	$ 34,468	$ 51,230
Other Liabilities	(2,089,039)	(1,990,821)
Total equity	$ 5,429,684	7,236,260	$ 6,088,295	$ 4,796,162
Excess MSRs Investees
Schedule of MSRs [Line Items]
New Residential’s percentage ownership	50.00%
Interest income	$ 22,507	23,872	26,363
Other income (loss)	(29,461)	(10,208)	(9,649)
Expenses	(24)	(64)	0
Net income	(6,978)	13,600	$ 16,714
Excess MSRs Investees \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of MSRs [Line Items]
Excess MSR assets	179,762	226,843
Other assets	20,759	25,035
Other Liabilities	(687)	(687)
Total equity	$ 199,834	$ 251,191
New Residential’s percentage ownership	50.00%	50.00%

EXCESS MORTGAGE SERVICING RIG_8

EXCESS MORTGAGE SERVICING RIGHTS - Schedule of Change in Equity Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Mortgage Servicing Rights [Roll Forward]
Distributions of capital from equity method investees	$ 0	$ (92,748)	$ (300,056)
Recurring Basis
Mortgage Servicing Rights [Roll Forward]
Balance at beginning of period	125,596	147,964
Contributions to equity method investees	0	0
Distributions of earnings from equity method investees	(1,170)	(8,999)
Distributions of capital from equity method investees	(21,020)	(20,169)
Change in fair value of investments in equity method investees	(3,489)	6,800
Balance at end of period	$ 99,917	$ 125,596	$ 147,964

EXCESS MORTGAGE SERVICING RIG_9

EXCESS MORTGAGE SERVICING RIGHTS - Summary of Excess MSRs Made Through Equity Method Investees (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of MSRs [Line Items]
Carrying Value	$ 4,585,841	$ 5,686,233	$ 4,528,604
Weighted Average Life (Years)	2 years 2 months 12 days
Excess MSRs Investees
Schedule of MSRs [Line Items]
New Residential Interest in Investees	50.00%
Carrying Value	$ 99,917	125,596
Excess MSRs Investees \| Agency
Schedule of MSRs [Line Items]
New Residential Interest in Investees	50.00%
Excess MSRs Investees \| Agency \| Original and Recaptured Pools
Schedule of MSRs [Line Items]
Unpaid Principal Balance	$ 28,453,512	$ 33,592,554
Investee Interest in Excess MSR	66.70%	66.70%
New Residential Interest in Investees	50.00%	50.00%
Amortized Cost Basis	$ 139,251	$ 168,807
Carrying Value	$ 179,762	$ 226,843
Weighted Average Life (Years)	5 years 9 months 18 days	5 years 4 months 24 days

MORTGAGE SERVICING RIGHTS AND_3

MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019		Aug. 06, 2019	May 21, 2019	Apr. 02, 2019	Feb. 28, 2019	Dec. 31, 2018	Jan. 31, 2018	Jul. 31, 2017
Schedule of MSRs [Line Items]
Subservicer percent of UPB	50.20%
Residential mortgage loans subject to repurchase	$ 1,452,005	[1]	$ 172,336	[1]					$ 121,602
Residential mortgage loans, held-for-investment, at fair value	5,215,703		6,042,664
Reserve for non-recovery advances	22,900
Mortgage Loans Subserviced
Schedule of MSRs [Line Items]
UPB of Underlying Mortgages	66,900,000		71,300,000
Subservicing revenue	201,600		$ 139,500
Ginnie Mae Loans
Schedule of MSRs [Line Items]
Residential mortgage loans, held-for-investment, at fair value	$ 810,900
Ocwen
Schedule of MSRs [Line Items]
UPB of Underlying Mortgages										$ 86,800,000	$ 110,000,000
LoanCare
Schedule of MSRs [Line Items]
Subservicer percent of UPB	17.50%
Nationstar
Schedule of MSRs [Line Items]
Subservicer percent of UPB	16.20%
PHH Mortgage Corporation
Schedule of MSRs [Line Items]
Subservicer percent of UPB	15.40%
Flagstar
Schedule of MSRs [Line Items]
Subservicer percent of UPB	0.70%
Ocwen \| New Residential Mortgage LLC \| MSRs
Schedule of MSRs [Line Items]
Unpaid Principal Balance of underlying loans transferred	$ 66,700,000
Mr. Cooper \| MSRs
Schedule of MSRs [Line Items]
UPB of Underlying Mortgages								$ 9,500,000
United Shore \| MSRs
Schedule of MSRs [Line Items]
UPB of Underlying Mortgages						$ 23,700,000	$ 8,200,000
Quicken \| MSRs
Schedule of MSRs [Line Items]
UPB of Underlying Mortgages					$ 29,100,000

[1]	See Note 6 for details.

MORTGAGE SERVICING RIGHTS AND_4

MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES - Rollforward of Carrying Value of Investments In MSRs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Mortgage Servicing Rights [Roll Forward]
Beginning balance	$ 5,686,233	$ 4,528,604
Purchases, net	431,608	1,331,326
Transfers	0	0
Other transfers		(410)
Originations	666,414	374,450
Proceeds from sales	(15,341)	(24,528)
Realization of cash flows	(1,592,281)	(740,843)
Change in valuation inputs and assumptions	(591,439)	(166,436)
(Gain) loss realized	647	(3,100)
Ending balance	4,585,841	5,686,233	$ 4,528,604
Ditech Acquisition
Mortgage Servicing Rights [Roll Forward]
Ditech Acquisition		387,170
MSRs
Mortgage Servicing Rights [Roll Forward]
Beginning balance	3,967,960	2,884,100
Purchases, net	449,875	678,424
Transfers	320,613	367,121
Other transfers		(410)
Originations	666,414	374,450
Proceeds from sales	(11,282)	(1,539)
Realization of cash flows	(1,369,607)	(537,111)
Change in valuation inputs and assumptions	(536,694)	(187,530)
(Gain) loss realized	2,396	3,285
Ending balance	3,489,675	3,967,960	2,884,100
MSRs \| Ditech Acquisition
Mortgage Servicing Rights [Roll Forward]
Ditech Acquisition		387,170
Mortgage Servicing Rights Financing Receivable
Mortgage Servicing Rights [Roll Forward]
Beginning balance	5,686,233
Ending balance	4,585,841	5,686,233
New Residential Mortgage LLC \| Mortgage Servicing Rights Financing Receivable
Mortgage Servicing Rights [Roll Forward]
Beginning balance	1,718,273	1,644,504
Purchases, net		652,902
Purchases, net	(18,267)
Transfers	(320,613)	(367,121)
Other transfers		0
Originations	0	0
Proceeds from sales	(4,059)	(22,989)
Realization of cash flows	(222,674)	(203,732)
Change in valuation inputs and assumptions	(54,745)	21,094	230,036
(Gain) loss realized	(1,749)	(6,385)	(783)
Ending balance	$ 1,096,166	1,718,273	$ 1,644,504
New Residential Mortgage LLC \| Mortgage Servicing Rights Financing Receivable \| Ditech Acquisition
Mortgage Servicing Rights [Roll Forward]
Ditech Acquisition		$ 0

MORTGAGE SERVICING RIGHTS AND_5

MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES - Schedule of Servicing Fee Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Investments in Mortgage Servicing Rights [Line Items]
Less: subservicing expense	$ (201,444)	$ (227,482)	$ (176,784)
Change in valuation inputs and assumptions	591,439	166,436
(Gain) loss realized	647	(3,100)
Servicing revenue, net	(555,041)	385,159	528,595
Change in fair value of MSR financing receivables	(279,168)	(189,023)	31,550
MSRs
Schedule of Investments in Mortgage Servicing Rights [Line Items]
Change in valuation inputs and assumptions	536,694	187,530
(Gain) loss realized	2,396	3,285
MSRs Excluding Excess Spread Financing
Schedule of Investments in Mortgage Servicing Rights [Line Items]
Servicing fee revenue	1,224,060	899,623	589,546
Ancillary and other fees	110,640	198,486	130,294
Servicing fee revenue and fees	1,334,700	1,098,109	719,840
Realization of cash flows	(1,360,954)	(530,031)	(256,915)
Change in valuation inputs and assumptions	(531,183)	(186,204)	68,587
(Gain) loss realized	2,396	3,285	(2,917)
Servicing revenue, net	(555,041)	385,159	528,595
Excess Spread Financing
Schedule of Investments in Mortgage Servicing Rights [Line Items]
Realization of cash flows	(8,700)	(7,100)	(1,200)
Change in valuation inputs and assumptions	5,500	1,300	7,400
Mortgage Servicing Rights Financing Receivable \| New Residential Mortgage LLC
Schedule of Investments in Mortgage Servicing Rights [Line Items]
Servicing fee revenue	384,260	513,172	705,812
Ancillary and other fees	74,421	119,570	146,829
Less: subservicing expense	(151,109)	(196,726)	(251,184)
Servicing fee revenue and fees	307,572	436,016	601,457
Realization of cash flows	(222,674)	(203,732)	(197,703)
Change in valuation inputs and assumptions	54,745	(21,094)	(230,036)
(Gain) loss realized	(1,749)	(6,385)	(783)
Change in fair value of MSR financing receivables	$ (279,168)	$ (189,023)	$ 31,550

MORTGAGE SERVICING RIGHTS AND_6

MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES - Schedule of Investment in MSRs and MSR Financing Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Schedule of Mortgage Servicing Rights [Line Items]
Weighted Average Life (Years)	2 years 2 months 12 days
Carrying Value	$ 4,585,841		$ 5,686,233		$ 4,528,604
Residential mortgage loans subject to repurchase	1,452,005	[1]	172,336	[1]	121,602
MSRs
Schedule of Mortgage Servicing Rights [Line Items]
Carrying Value	$ 3,489,675		$ 3,967,960		$ 2,884,100
MSRs \| Weighted Average
Schedule of Mortgage Servicing Rights [Line Items]
Discount rate	7.70%		7.80%
MSRs \| Minimum
Schedule of Mortgage Servicing Rights [Line Items]
Discount rate	7.30%
MSRs \| Maximum
Schedule of Mortgage Servicing Rights [Line Items]
Discount rate	13.00%
Mortgage Servicing Rights Financing Receivable
Schedule of Mortgage Servicing Rights [Line Items]
UPB of Underlying Mortgages	$ 435,435,827		$ 504,834,931
Weighted Average Life (Years)	5 years 4 months 24 days		5 years 4 months 24 days
Carrying Value	$ 4,585,841		$ 5,686,233
Mortgage Servicing Rights Financing Receivable \| Weighted Average
Schedule of Mortgage Servicing Rights [Line Items]
Discount rate	9.40%		8.90%
Mortgage Servicing Rights Financing Receivable \| Minimum
Schedule of Mortgage Servicing Rights [Line Items]
Discount rate	7.40%
Mortgage Servicing Rights Financing Receivable \| Maximum
Schedule of Mortgage Servicing Rights [Line Items]
Discount rate	9.50%
Agency \| MSRs
Schedule of Mortgage Servicing Rights [Line Items]
UPB of Underlying Mortgages	$ 300,200,826		$ 315,427,933
Weighted Average Life (Years)	5 years 1 month 6 days		5 years 1 month 6 days
Carrying Value	$ 2,799,728		$ 3,319,035
Agency \| Mortgage Servicing Rights Financing Receivable
Schedule of Mortgage Servicing Rights [Line Items]
UPB of Underlying Mortgages	$ 5,517,730		$ 54,866,978
Weighted Average Life (Years)	5 years 2 months 12 days		4 years 8 months 12 days
Carrying Value	$ 49,275		$ 547,351
Non-Agency \| MSRs
Schedule of Mortgage Servicing Rights [Line Items]
UPB of Underlying Mortgages	$ 5,962,225		$ 6,402,833
Weighted Average Life (Years)	4 years 2 months 12 days		5 years 4 months 24 days
Carrying Value	$ 17,512		$ 20,283
Non-Agency \| Mortgage Servicing Rights Financing Receivable
Schedule of Mortgage Servicing Rights [Line Items]
UPB of Underlying Mortgages	$ 66,648,221		$ 76,117,892
Weighted Average Life (Years)	8 years		7 years 7 months 6 days
Carrying Value	$ 1,046,891		$ 1,170,922
Ginnie Mae \| MSRs
Schedule of Mortgage Servicing Rights [Line Items]
UPB of Underlying Mortgages	$ 57,106,825		$ 52,019,295
Weighted Average Life (Years)	4 years 1 month 6 days		4 years 7 months 6 days
Carrying Value	$ 672,435		$ 628,642

[1]	See Note 6 for details.

MORTGAGE SERVICING RIGHTS AND_7

MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES - Summary of the Geographic Distribution of the Underlying Residential Mortgage Loans of the MSRs (Details) - MSRs - Mortgage Loans	Dec. 31, 2020	Dec. 31, 2019
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	100.00%	100.00%
California
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	21.20%	21.90%
Florida
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	7.40%	6.90%
New York
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	7.00%	6.40%
Texas
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	5.60%	5.50%
New Jersey
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	4.80%	4.90%
Illinois
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.60%	3.60%
Massachusetts
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.40%	3.40%
Georgia
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.30%	3.10%
Pennsylvania
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.10%	3.00%
Maryland
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.10%	3.00%
Other U.S.
Schedule of MSRs [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	37.50%	38.30%

MORTGAGE SERVICING RIGHTS AND_8

MORTGAGE SERVICING RIGHTS AND MSR FINANCING RECEIVABLES - Schedule of Advances Included in Servicing Advances Receivable (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Schedule of Investments in Mortgage Servicing Rights [Line Items]
Total	[1]	$ 538,056	$ 581,777
Servicer Advances Receivable
Schedule of Investments in Mortgage Servicing Rights [Line Items]
Principal and interest advances		665,538	823,860
Escrow advances (taxes and insurance advances)		1,547,796	1,666,792
Foreclosure advances		816,400	760,593
Total		3,029,734	3,251,245
Servicer advances receivable related to Agency MSRs		583,900	562,200
Servicer advances receivable related to Ginnie Mae MSRs		181,200	166,500
Unamortized discount and accrual		$ 27,500	$ 50,100

[1]	See Note 14 regarding consolidated variable interest entities.

SERVICER ADVANCE INVESTMENTS -

SERVICER ADVANCE INVESTMENTS - Narrative (Details) $ in Millions	Dec. 31, 2020USD ($)
Advance Purchaser LLC
Servicing Assets at Fair Value [Line Items]
Capital distributed to third-party co-investors	$ 328.4
Capital distributed to New Residential	$ 306.9
Mr. Cooper
Servicing Assets at Fair Value [Line Items]
Servicer basic fee, percent	9.20%
Performance fee, percent (up to)	100.00%
Corporate Joint Venture
Servicing Assets at Fair Value [Line Items]
New Residential’s percentage ownership	73.20%
Funded capital commitments	$ 312.7
Corporate Joint Venture \| Noncontrolling Third-party Investors
Servicing Assets at Fair Value [Line Items]
Funded capital commitments	$ 389.6

SERVICER ADVANCE INVESTMENTS _2

SERVICER ADVANCE INVESTMENTS - Summary of Investments in Servicer Advances (Details) - Corporate Joint Venture - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Investments in and Advances to Affiliates [Line Items]
Amortized Cost Basis	$ 512,958	$ 557,444
Carrying Value	$ 538,056	$ 581,777
Weighted Average Discount Rate	5.20%	5.30%
Weighted Average Yield	5.70%	5.70%
Weighted Average Life (Years)	6 years	6 years 3 months 18 days

SERVICER ADVANCE INVESTMENTS _3

SERVICER ADVANCE INVESTMENTS - Summary of Investments in Servicer Advances - Additional Information (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Investments in and Advances to Affiliates [Line Items]
Outstanding Servicer Advances	[1]	$ 538,056	$ 581,777
Face amount of debt		25,219,365
Corporate Joint Venture
Investments in and Advances to Affiliates [Line Items]
Outstanding Servicer Advances		449,150	462,843
Corporate Joint Venture \| Servicer Advance Investments
Investments in and Advances to Affiliates [Line Items]
UPB of Underlying Mortgages		26,061,499	31,442,267
Outstanding Servicer Advances		$ 449,150	$ 462,843
Servicer Advances to UPB of Underlying Residential Mortgage Loans		1.70%	1.50%
Face amount of debt		$ 423,144	$ 443,248
Gross Loan-to-Value		88.40%	88.30%
Net Loan-to-Value		88.60%	87.20%
Gross Cost of Funds		1.50%	3.40%
Net Cost of Funds		1.30%	2.80%

[1]	See Note 14 regarding consolidated variable interest entities.

SERVICER ADVANCE INVESTMENTS _4

SERVICER ADVANCE INVESTMENTS - Summary of Investments in Servicer Advances - Components of Funded Advances (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Servicing Assets at Fair Value [Line Items]
Total	[1]	$ 538,056	$ 581,777
Corporate Joint Venture
Servicing Assets at Fair Value [Line Items]
Principal and interest advances		84,976	71,574
Escrow advances (taxes and insurance advances)		186,426	180,047
Foreclosure advances		177,748	211,222
Total		$ 449,150	$ 462,843

[1]	See Note 14 regarding consolidated variable interest entities.

SERVICER ADVANCE INVESTMENTS _5

SERVICER ADVANCE INVESTMENTS - Schedule of Interest Income Related to Investments in Servicer Advances (Details) - Servicer Advance Investments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Servicing Assets at Fair Value [Line Items]
Interest income, gross of amounts attributable to servicer compensation	$ 34,262	$ 51,940	$ 83,807
Amounts attributable to basic servicer compensation	(3,248)	(6,209)	(8,491)
Amounts attributable to incentive servicer compensation	(12,832)	(18,065)	(25,098)
Interest income from Servicer Advance Investments	$ 18,182	$ 27,666	$ 50,218

REAL ESTATE AND OTHER SECURIT_3

REAL ESTATE AND OTHER SECURITIES - Schedule of Investment in Real Estate Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Agency RMBS
Purchases
Face	$ 21,593.3	$ 33,573.5
Purchase Price	22,290.3	34,335.5
Sales
Face	19,321.7	22,746.3
Amortized Cost	19,666.2	23,337.8
Sale Price	19,886.8	23,449.2
Gain (Loss) on Sale	220.5	111.4
Non-Agency
Purchases
Face	5,083.1	14,960.4
Purchase Price	575	2,059
Sales
Face	8,450.1	2,936.2
Amortized Cost	6,242	1,852.1
Sale Price	5,288.5	1,949.3
Gain (Loss) on Sale	$ (953.5)	$ 97.2

REAL ESTATE AND OTHER SECURIT_4

REAL ESTATE AND OTHER SECURITIES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Provision (reversal) for credit losses on securities	$ 13,404	$ 25,174	$ 30,017
Agency RMBS
Debt Securities, Available-for-sale [Line Items]
Face amount of securities sold		5,100,000
Face amount of securities purchased, unsettled		900,000
Sale price of securities sold		5,200,000
Purchase of real estate securities, unsettled		$ 900,000

REAL ESTATE AND OTHER SECURIT_5

REAL ESTATE AND OTHER SECURITIES - Summary of Real Estate Securities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)securitybond	Dec. 31, 2019USD ($)security
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 31,869,682	$ 36,159,591
Amortized Cost Basis	14,105,251	18,782,175
Carrying Value	$ 14,244,558	19,477,728
Weighted Average Life (Years)	2 years 2 months 12 days
Investments	$ 26,441,337	34,337,137
Bonds
Debt Securities, Available-for-sale [Line Items]
Carrying Value	$ 432,500
Number of bonds which New Residential was unable to obtain rating information \| bond	289
Residual Bonds
Debt Securities, Available-for-sale [Line Items]
Investments	$ 27,400
Non-Agency Bonds
Debt Securities, Available-for-sale [Line Items]
Investments	2,600
Total Agency RMBS
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	12,491,152	11,301,603
Amortized Cost Basis	12,951,608	11,474,338
Gross Unrealized Gains	112,026	57,221
Gross Unrealized Losses	0	(11,616)
Carrying Value	$ 13,063,634	$ 11,519,943
Number of Securities	58,000	43
Weighted Average Rating	AAA	AAA
Weighted Average Coupon	2.20%	3.20%
Weighted Average Yield	2.20%	2.80%
Weighted Average Life (Years)	4 years 3 months 18 days	6 years
Total Agency RMBS \| Fixed Rate Securities
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 12,500,000	$ 11,300,000
Total Agency RMBS \| Floating Rate Securities
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	0	0
Agency RMBS
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	110,360
Amortized Cost Basis	111,149
Gross Unrealized Gains	10,612
Gross Unrealized Losses	0
Carrying Value	$ 121,761
Number of Securities	1,000
Weighted Average Rating	AAA
Weighted Average Coupon	3.50%
Weighted Average Yield	3.50%
Weighted Average Life (Years)	5 years 10 months 24 days
Agency RMBS at FVO
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 12,380,792
Amortized Cost Basis	12,840,459
Gross Unrealized Gains	101,414
Gross Unrealized Losses	0
Carrying Value	$ 12,941,873
Number of Securities \| security	57,000
Weighted Average Rating	AAA
Weighted Average Coupon	2.20%
Weighted Average Yield	2.20%
Weighted Average Life (Years)	4 years 3 months 18 days
Non-Agency
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 19,378,530	24,857,988
Amortized Cost Basis	1,153,643	7,307,837
Gross Unrealized Gains	88,098	689,158
Gross Unrealized Losses	(60,817)	(39,210)
Carrying Value	$ 1,180,924	$ 7,957,785
Number of Securities	589,000	997
Weighted Average Rating	AA	B+
Weighted Average Coupon	2.80%	2.90%
Weighted Average Yield	4.10%	4.70%
Weighted Average Life (Years)	4 years 9 months 18 days	7 years
Weighted Average Principal Subordination	19.60%	11.00%
Non-Agency \| Fixed Rate Securities
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 11,900,000	$ 5,400,000
Residual and interest - only notional amount	10,900,000	3,200,000
Non-Agency \| Floating Rate Securities
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	7,500,000	19,500,000
Residual and interest - only notional amount	7,200,000	12,200,000
Total/Weighted Average
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	31,869,682	36,159,591
Amortized Cost Basis	14,105,251	18,782,175
Gross Unrealized Gains	200,124	746,379
Gross Unrealized Losses	(60,817)	(50,826)
Carrying Value	$ 14,244,558	$ 19,477,728
Number of Securities \| security	647,000	1,040
Weighted Average Rating	AAA	A+
Weighted Average Coupon	2.30%	3.00%
Weighted Average Yield	2.40%	3.50%
Weighted Average Life (Years)	4 years 3 months 18 days	6 years 4 months 24 days
Corporate bond
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 500	$ 85,000
Amortized Cost Basis	500	85,000
Gross Unrealized Gains	23	0
Gross Unrealized Losses	0	(1,262)
Carrying Value	$ 523	$ 83,738
Number of Securities \| security	1	1
Weighted Average Rating	B-	B-
Weighted Average Coupon	8.25%	8.25%
Weighted Average Yield	8.25%	8.25%
Weighted Average Life (Years)	4 years 3 months 18 days	5 years 3 months 18 days
Consumer loan bonds
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 13,022	$ 25,029
Amortized Cost Basis	12,360	25,688
Gross Unrealized Gains	503	521
Gross Unrealized Losses	0	(6,190)
Carrying Value	$ 12,862	$ 20,019
Number of Securities \| security	6	6
Weighted Average Life (Years)		1 year 7 months 6 days
Interest-only Securities
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 9,457,488	$ 11,201,646
Amortized Cost Basis	248,253	308,714
Gross Unrealized Gains	6,600	35,882
Gross Unrealized Losses	(43,781)	(19,459)
Carrying Value	$ 211,073	$ 325,137
Number of Securities \| security	124	124
Weighted Average Rating	AA+	AA+
Weighted Average Coupon	1.22%	1.37%
Weighted Average Yield	5.09%	10.49%
Weighted Average Life (Years)	2 years 1 month 6 days	2 years 10 months 24 days
Servicing Strips
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 4,979,723	$ 4,073,792
Amortized Cost Basis	49,989	40,043
Gross Unrealized Gains	5,865	2,431
Gross Unrealized Losses	(9,476)	(4,562)
Carrying Value	$ 46,378	$ 37,912
Number of Securities \| security	58	46
Weighted Average Coupon	0.42%	0.38%
Weighted Average Yield	8.38%	4.01%
Weighted Average Life (Years)	3 years 10 months 24 days	5 years 8 months 12 days
MSR bond
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount		$ 0
Amortized Cost Basis		0
Gross Unrealized Gains		0
Gross Unrealized Losses		0
Carrying Value		$ 0
Number of Securities \| security		0
Weighted Average Coupon		0.00%
Weighted Average Yield		0.00%

REAL ESTATE AND OTHER SECURIT_6

REAL ESTATE AND OTHER SECURITIES - Summary of Real Estate Securities in an Unrealized Loss Position (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)security	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 31,869,682	$ 36,159,591
Credit Impairment - Amortized Cost Basis		(59,063)	$ (52,803)	$ (23,821)
Amortized Cost Basis	$ 14,105,251	$ 18,782,175
Weighted Average Life (Years)	2 years 2 months 12 days
Less than 12 Months
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 7,134,953
Before Impairment - Amortized Cost Basis	217,955
Credit Impairment - Amortized Cost Basis	(1,776)
Amortized Cost Basis	216,179
Gross Unrealized Losses - Less than Twelve Months	(28,594)
Carrying Value - Less than Twelve Months	$ 187,585
Number of Securities - Less than Twelve Months \| security	61
Weighted Average Rating	AA+
Weighted Average Coupon	2.29%
Weighted Average Yield	4.58%
Weighted Average Life (Years)	5 years 6 months
12 or More Months
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 4,063,623
Before Impairment - Amortized Cost Basis	143,681
Credit Impairment - Amortized Cost Basis	(6,896)
Amortized Cost Basis	136,785
Gross Unrealized Losses - Twelve or More Months	(32,223)
Carrying Value - Twelve or More Months	$ 104,562
Number of Securities - Twelve or More Months \| security	80
Weighted Average Rating	AA+
Weighted Average Coupon	1.56%
Weighted Average Yield	1.76%
Weighted Average Life (Years)	4 years 2 months 12 days
Total/Weighted Average
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 11,198,576
Before Impairment - Amortized Cost Basis	361,636
Credit Impairment - Amortized Cost Basis	(8,672)
Amortized Cost Basis	352,964
Gross Unrealized Losses - Total/Weighted Average	(60,817)
Carrying Value - Total/Weighted Average	$ 292,147
Number of Securities - Total/Weighted Average \| security	141
Weighted Average Rating	AA+
Weighted Average Coupon	2.00%
Weighted Average Yield	3.49%
Weighted Average Life (Years)	5 years

REAL ESTATE AND OTHER SECURIT_7

REAL ESTATE AND OTHER SECURITIES - Summary of Real Estate Securities in an Unrealized Loss Position - Associated Intent to Sell (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Securities New Residential intends to sell
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 0	$ 0
Amortized Cost Basis After Credit Impairment	0	0
Gross Unrealized Credit Losses	0	0
Gross Unrealized Non-Credit Losses	0	0
Securities New Residential is more likely than not to be required to sell
Debt Securities, Available-for-sale [Line Items]
Fair Value	0	0
Amortized Cost Basis After Credit Impairment	0	0
Gross Unrealized Credit Losses	0	0
Securities No Intent To Sell - Credit Impaired
Debt Securities, Available-for-sale [Line Items]
Fair Value	21,326	228,228
Amortized Cost Basis After Credit Impairment	21,326	237,626
Gross Unrealized Credit Losses	(8,672)	(3,232)
Gross Unrealized Non-Credit Losses	0	(9,398)
Securities No Intent To Sell - Non-Credit
Debt Securities, Available-for-sale [Line Items]
Fair Value	270,821	4,726,409
Amortized Cost Basis After Credit Impairment	331,638	4,767,837
Gross Unrealized Credit Losses	0	0
Gross Unrealized Non-Credit Losses	(60,817)	(41,428)
Securities in an Unrealized Loss Position
Debt Securities, Available-for-sale [Line Items]
Fair Value	292,147	4,954,637
Amortized Cost Basis After Credit Impairment	352,964	5,005,463
Gross Unrealized Credit Losses	(8,672)	(3,232)
Gross Unrealized Non-Credit Losses	$ (60,817)	$ (50,826)

REAL ESTATE AND OTHER SECURIT_8

REAL ESTATE AND OTHER SECURITIES - Summary of Activity Related to Credit Losses on Debt Securities Excluding Credit Impairment (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses on available-for-sale debt securities at December 31, 2019	$ 0
Additions to the allowance for credit losses on securities for which credit losses were not previously recorded	0
Additions to the allowance for credit losses arising from purchases of available-for-sale debt securities accounted for as purchased financial assets with credit deterioration	0
Reductions for securities sold during the period	0
Reductions in the allowance for credit losses because the entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis	0
Additional increases (decreases) to the allowance for credit losses on securities that had credit losses or an allowance recorded in a previous period	8,672
Write-offs charged against the allowance	0
Recoveries of amounts previously written off	0
Allowance for credit losses on available-for-sale debt securities at December 31, 2020	8,672
Purchased Credit Deteriorated
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses on available-for-sale debt securities at December 31, 2019	0
Additions to the allowance for credit losses on securities for which credit losses were not previously recorded	0
Additions to the allowance for credit losses arising from purchases of available-for-sale debt securities accounted for as purchased financial assets with credit deterioration	0
Reductions for securities sold during the period	0
Reductions in the allowance for credit losses because the entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis	0
Additional increases (decreases) to the allowance for credit losses on securities that had credit losses or an allowance recorded in a previous period	8,672
Write-offs charged against the allowance	0
Recoveries of amounts previously written off	0
Allowance for credit losses on available-for-sale debt securities at December 31, 2020	8,672
Non-Purchased Credit Deteriorated
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses on available-for-sale debt securities at December 31, 2019	0
Additions to the allowance for credit losses on securities for which credit losses were not previously recorded	0
Additions to the allowance for credit losses arising from purchases of available-for-sale debt securities accounted for as purchased financial assets with credit deterioration	0
Reductions for securities sold during the period	0
Reductions in the allowance for credit losses because the entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis	0
Additional increases (decreases) to the allowance for credit losses on securities that had credit losses or an allowance recorded in a previous period	0
Write-offs charged against the allowance	0
Recoveries of amounts previously written off	0
Allowance for credit losses on available-for-sale debt securities at December 31, 2020	$ 0

REAL ESTATE AND OTHER SECURIT_9

REAL ESTATE AND OTHER SECURITIES - Summary of Activity Related to Credit Losses on Debt Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
Beginning balance of credit losses on debt securities for which a portion of an other-than-temporary impairment was recognized in other comprehensive income	$ 52,803	$ 23,821
Increases to credit losses on securities for which an other-than-temporary impairment was previously recognized and a portion of an other-than-temporary impairment was recognized in other comprehensive income	23,059	16,924
Additions for credit losses on securities for which an other-than-temporary impairment was not previously recognized	2,115	13,093
Reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the entity intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis	0	0
Reduction for credit losses on securities for which no other-than-temporary impairment was recognized in other comprehensive income at the current measurement date	0	0
Reduction for securities sold/paid off during the period	(18,914)	(1,035)
Ending balance of credit losses on debt securities for which a portion of an other-than-temporary impairment was recognized in other comprehensive income	$ 59,063	$ 52,803

REAL ESTATE AND OTHER SECURI_10

REAL ESTATE AND OTHER SECURITIES - Summary of the Geographic Distribution of the Collateral Securing Non-Agency RMBS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-Agency
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 19,365,008	$ 24,747,959
Percentage of Total Outstanding	100.00%	100.00%
Non-Agency \| Western U.S.
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 6,543,524	$ 9,048,847
Percentage of Total Outstanding	33.70%	36.60%
Non-Agency \| Southeastern U.S.
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 5,089,592	$ 5,983,966
Percentage of Total Outstanding	26.30%	24.20%
Non-Agency \| Northeastern U.S.
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 4,484,340	$ 5,416,137
Percentage of Total Outstanding	23.20%	21.90%
Non-Agency \| Midwestern U.S.
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 2,207,783	$ 2,562,269
Percentage of Total Outstanding	11.40%	10.40%
Non-Agency \| Southwestern U.S.
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 1,025,637	$ 1,440,467
Percentage of Total Outstanding	5.30%	5.80%
Non-Agency \| Other U.S.
Debt Securities, Available-for-sale [Line Items]
Outstanding Face Amount	$ 14,132	$ 296,273
Percentage of Total Outstanding	0.10%	1.10%
Consumer loan bonds \| Bonds
Debt Securities, Available-for-sale [Line Items]
Face Amount	$ 13,000	$ 25,000
Corporate bond \| Bonds
Debt Securities, Available-for-sale [Line Items]
Face Amount	$ 500	$ 85,000

REAL ESTATE AND OTHER SECURI_11

REAL ESTATE AND OTHER SECURITIES - Schedule of the Outstanding Face Amount and Carrying Value for Securities Uncollectible (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Outstanding Face Amount	$ 727,216	$ 5,701,736
Carrying Value	$ 280,876	$ 3,830,369

REAL ESTATE AND OTHER SECURI_12

REAL ESTATE AND OTHER SECURITIES - Summary of Changes in Accretable Yield for Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Certain Loans Acquired in Transfer Accounted for as Available-for-sale Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Beginning Balance	$ 1,882,477	$ 2,245,984
Additions	76,960	407,864
Accretion	(60,868)	(239,682)
Reclassifications from (to) non-accretable difference	(167,793)	(233,683)
Disposals	(1,541,214)	(298,006)
Ending Balance	$ 189,562	$ 1,882,477

RESIDENTIAL MORTGAGE LOANS - Re

RESIDENTIAL MORTGAGE LOANS - Residential Mortgage Loans Outstanding by Loan Type, Excluding REO (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 1,022,131
Weighted Average Life (Years)	2 years 2 months 12 days
Loans Held-for-Investment
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 769,348
Carrying Value	$ 674,179	$ 925,706
Loan Count \| loan	12,353,000
Weighted Average Yield	6.60%
Weighted Average Life (Years)	5 years 7 months 6 days
Acquired Residential Mortgage Loans Held-for-Sale
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 637,138
Carrying Value	$ 509,887	1,429,052
Loan Count \| loan	6,559,000
Weighted Average Yield	7.30%
Weighted Average Life (Years)	3 years 7 months 6 days
Acquired Reverse Mortgage Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 12,007
Carrying Value	$ 5,884	5,844
Loan Count \| loan	28,000
Weighted Average Yield	7.80%
Weighted Average Life (Years)	3 years 9 months 18 days
Acquired Reverse Mortgage Loans \| Mr. Cooper
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest in reverse mortgage loans	30.00%
Acquired Performing Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 138,109
Carrying Value	$ 129,345	857,821
Loan Count \| loan	3,278,000
Weighted Average Yield	6.70%
Weighted Average Life (Years)	4 years 6 months
Acquired Non-Performing Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 487,022
Carrying Value	$ 374,658	565,387
Loan Count \| loan	3,253,000
Weighted Average Yield	7.50%
Weighted Average Life (Years)	3 years 3 months 18 days
Acquired Performing Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 1,446,457
Carrying Value	$ 1,423,159	3,024,288
Loan Count \| loan	7,189,000
Weighted Average Yield	3.80%
Weighted Average Life (Years)	6 years 7 months 6 days
Acquired non-performing loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 428,079
Carrying Value	$ 335,544	0
Loan Count \| loan	2,798,000
Weighted Average Yield	7.50%
Weighted Average Life (Years)	3 years 3 months 18 days
Originated Loans, Held For Sale At Fair Value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 2,801,297
Carrying Value	$ 2,947,113	1,589,324
Loan Count \| loan	10,797,000
Weighted Average Yield	2.80%
Weighted Average Life (Years)	27 years 8 months 12 days
Total Residential Mortgage Loans, held-for-sale, at fair value
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 4,675,833
Carrying Value	$ 4,705,816	4,613,612
Loan Count \| loan	20,784,000
Weighted Average Yield	3.50%
Weighted Average Life (Years)	18 years 10 months 24 days
Total Residential Mortgage Loans, Held-for-Sale
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Outstanding Face Amount	$ 5,312,971
Carrying Value	$ 5,215,703	$ 6,042,664
Reverse Mortgage Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Interest in reverse mortgage loans	70.00%
Unpaid principal balance	$ 600
Percentage of loans that have reached a termination event	47.80%
Performing Loans \| Ginnie Mae EBO
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Unpaid Principal Balance	$ 798,100
Non-Performing Loans \| Ginnie Mae EBO
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Unpaid Principal Balance	$ 20,500

RESIDENTIAL MORTGAGE LOANS - Na

RESIDENTIAL MORTGAGE LOANS - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)trust	Dec. 31, 2019USD ($)trust
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Threshold period past due (in days)	60 days
Residential Mortgage Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Number of trusts called \| trust	13	140
Loans Sold \| Residential Mortgage Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Investment income, interest	$ 48.5	$ 54.4
Gain (loss) on sale	$ 16	$ 156.2

RESIDENTIAL MORTGAGE LOANS - Ge

RESIDENTIAL MORTGAGE LOANS - Geographic Distribution of the Underlying Residential Mortgage Loans (Details) - Residential Mortgage Loans	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	100.00%	100.00%
California
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	11.90%	16.10%
New York
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	10.10%	9.00%
Texas
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	7.10%	7.10%
Florida
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	7.10%	8.40%
Georgia
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	5.80%	4.80%
New Jersey
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	4.20%	4.20%
Illinois
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.50%	3.60%
Pennsylvania
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.50%	2.90%
Maryland
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.40%	3.30%
Massachusetts
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	3.10%	3.30%
Other U.S.
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Line Items]
Percentage of Total Outstanding Unpaid Principal Amount	40.30%	37.30%

RESIDENTIAL MORTGAGE LOANS - Sc

RESIDENTIAL MORTGAGE LOANS - Schedule of Aggregate Unpaid Principal Balance and Aggregate Carrying Value (Details) $ in Thousands	Dec. 31, 2020USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	$ 1,022,131
Fair Value	850,467
Fair Value Over (Under) Unpaid Principal Balance	(171,664)
90 to 119
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	71,567
Fair Value	59,679
Fair Value Over (Under) Unpaid Principal Balance	(11,888)
120
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unpaid Principal Balance	950,564
Fair Value	790,788
Fair Value Over (Under) Unpaid Principal Balance	$ (159,776)

RESIDENTIAL MORTGAGE LOANS - Pe

RESIDENTIAL MORTGAGE LOANS - Performing Loans Past Due (Details) - Residential Portfolio Segment - Performing Loans	Dec. 31, 2019
Servicing Assets at Fair Value [Line Items]
Delinquency Status	100.00%
Financial Asset, 1 to 29 Days Past Due
Servicing Assets at Fair Value [Line Items]
Delinquency Status	86.50%
Financial Asset, 30 to 59 Days Past Due
Servicing Assets at Fair Value [Line Items]
Delinquency Status	7.00%
Financial Asset, 60 to 89 Days Past Due
Servicing Assets at Fair Value [Line Items]
Delinquency Status	2.70%
90-119
Servicing Assets at Fair Value [Line Items]
Delinquency Status	0.70%
120
Servicing Assets at Fair Value [Line Items]
Delinquency Status	3.10%

RESIDENTIAL MORTGAGE LOANS - Su

RESIDENTIAL MORTGAGE LOANS - Summary of Activity for Residential Mortgage Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning	$ 6,042,664
Transfer of loans to real estate owned	(43,409)	$ (86,167)
Accretion of loan discount and other amortization	151,540	379,129	$ 701,967
Balance, ending	5,215,703	6,042,664
Residential Portfolio Segment
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Ditech Acquisition		999,336
Fair value adjustment due to fair value option	(6,020)
Originations	61,684,462	19,512,072
Sales	(65,484,970)	(26,034,030)
Purchases/additional fundings	3,433,110	8,632,949
Proceeds from repayments	(423,335)	(539,915)
Transfer of loans to other assets	(25,704)	(10,566)
Transfer of loans to real estate owned	(35,470)	(74,324)
Transfers of loans to held for sale	(62,274)	(80,659)
Transfer of loans from held-for-investment	62,274	80,659
Accretion of loan discount and other amortization		28,702
Valuation provision on loans	112,957	19,972
Changes in instrument-specific credit risk	14,713	(42,153)
Other factors	(122,317)	0
Total \| Residential Portfolio Segment
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning	6,968,370	4,476,327
Balance, ending	5,889,882	6,968,370	4,476,327
Loans Held-for-Investment \| Residential Portfolio Segment
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning	925,706	735,318
Ditech Acquisition		381,039
Fair value adjustment due to fair value option	(6,020)
Originations	0	0
Sales	0	0
Purchases/additional fundings	0	0
Proceeds from repayments	(145,767)	(119,195)
Transfer of loans to other assets	0	0
Transfer of loans to real estate owned	(6,754)	(20,710)
Transfers of loans to held for sale	(62,274)	(80,659)
Transfer of loans from held-for-investment	0	0
Accretion of loan discount and other amortization		28,702
Valuation provision on loans	0	(2,927)
Changes in instrument-specific credit risk	27,036	4,138
Other factors	(57,748)	0
Balance, ending	674,179	925,706	735,318
Loans Held-for-Sale \| Loans Held-for-Sale, at Lower Cost or Fair Value \| Residential Portfolio Segment
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning	1,429,052	932,480
Ditech Acquisition		0
Fair value adjustment due to fair value option	0
Originations	0	0
Sales	(791,974)	(495,925)
Purchases/additional fundings	110,741	1,133,335
Proceeds from repayments	(99,845)	(184,783)
Transfer of loans to other assets	(3,449)	(10,154)
Transfer of loans to real estate owned	(21,681)	(49,459)
Transfers of loans to held for sale	0	0
Transfer of loans from held-for-investment	0	80,659
Accretion of loan discount and other amortization
Valuation provision on loans	112,957	22,899
Changes in instrument-specific credit risk	0	0
Other factors	0	0
Balance, ending	509,887	1,429,052	932,480
Loans Held-for-Sale \| Loans Held-for-Sale, at Fair Value \| Residential Portfolio Segment
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning	4,613,612	2,808,529
Ditech Acquisition		618,297
Fair value adjustment due to fair value option	0
Originations	61,684,462	19,512,072
Sales	(64,692,996)	(25,538,105)
Purchases/additional fundings	3,322,369	7,499,614
Proceeds from repayments	(177,723)	(235,937)
Transfer of loans to other assets	(22,255)	(412)
Transfer of loans to real estate owned	(7,035)	(4,155)
Transfers of loans to held for sale		0
Transfer of loans from held-for-investment	62,274	0
Accretion of loan discount and other amortization
Valuation provision on loans	0	0
Changes in instrument-specific credit risk	(12,323)	(46,291)
Other factors	(64,569)	0
Balance, ending	$ 4,705,816	$ 4,613,612	$ 2,808,529

RESIDENTIAL MORTGAGE LOANS - Ca

RESIDENTIAL MORTGAGE LOANS - Carrying Value of Mortgage Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Accretion of loan discount and other amortization	$ 151,540	$ 379,129	$ 701,967
Transfer of loans to real estate owned	(43,409)	(86,167)
PCD Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning	66,278	144,065
Purchases/additional fundings		0
Sales		0
Proceeds from repayments		(16,855)
Accretion of loan discount and other amortization		16,041
(Allowance) reversal for loan losses		(2,332)
Transfer of loans to real estate owned		(14,487)
Transfers of loans to held for sale		60,154
Balance, ending		66,278	144,065
Residential Portfolio Segment
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Ditech Acquisition		999,336
Purchases/additional fundings	3,433,110	8,632,949
Proceeds from repayments	(423,335)	(539,915)
Accretion of loan discount and other amortization		28,702
Transfer of loans to other assets	(25,704)	(10,566)
Transfer of loans to real estate owned	(35,470)	(74,324)
Transfers of loans to held for sale	(62,274)	(80,659)
Residential Portfolio Segment \| Performing Loans
SEC Schedule, 12-29, Real Estate Companies, Investment in Movement in Mortgage Loans on Real Estate [Roll Forward]
Balance, beginning	$ 859,428	591,253
Ditech Acquisition		381,039
Purchases/additional fundings		0
Proceeds from repayments		(102,340)
Accretion of loan discount and other amortization		12,661
Provision for loan losses		(595)
Transfer of loans to other assets		0
Transfer of loans to real estate owned		(6,223)
Transfers of loans to held for sale		20,505
Fair value adjustment		4,138
Balance, ending		$ 859,428	$ 591,253

RESIDENTIAL MORTGAGE LOANS - Va

RESIDENTIAL MORTGAGE LOANS - Valuation Provision on Reverse Mortgage Loans and Allowance for Loan Losses on Performing Loans (Details) - Residential Portfolio Segment - Performing Loans $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at December 31, 2018	$ 0
Provision for loan losses	595
Charge-offs	(595)
Balance at December 31, 2019	$ 0

RESIDENTIAL MORTGAGE LOANS - Ch

RESIDENTIAL MORTGAGE LOANS - Changes in Accretable Yield (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Beginning balance	$ 68,632
Additions	0
Accretion	(16,041)
Reclassifications from non-accretable difference	9,361
Disposals	(11,515)
Transfer to held-for-sale	(13,415)
Ending balance	$ 37,022

RESIDENTIAL MORTGAGE LOANS - _2

RESIDENTIAL MORTGAGE LOANS - Schedule of Net Interest Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest Income:
Loans held-for-investment, at fair value	$ 53,264	$ 60,301	$ 76,129
Loans held-for-sale, at lower of cost or fair value	50,130	65,926	45,653
Loans held-for-sale, at fair value	135,729	175,926	51,562
Total interest income	239,123	302,153	173,344
Interest Expense:
Loans held-for-investment, at fair value	21,029	19,381	23,618
Loans held-for-sale, at lower of cost or fair value	22,541	40,067	35,796
Loans held-for-sale, at fair value	90,064	109,723	24,186
Total interest expense	133,634	169,171	83,600
Net interest income	$ 105,489	$ 132,982	$ 89,744

RESIDENTIAL MORTGAGE LOANS - _3

RESIDENTIAL MORTGAGE LOANS - Schedule of Gain on Sale of Originated Mortgage Loans, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long Lived Assets Held-for-sale [Line Items]
Gain on loans originated and sold	$ 811,288	$ 53,554	$ 47,172
Gain (loss) on settlement of mortgage loan origination derivative instruments	(361,755)	(53,374)	1,234
MSRs retained on transfer of loans	666,414	374,450	35,311
Other	49,270	27,564	3,977
Realized gain on sale of originated mortgage loans, net	1,165,217	402,194	87,694
Change in fair value	133,967	29,152	(5,324)
Gain on originated mortgage loans, held-for-sale, net	1,399,092	460,107	86,065
Loan origination fees and direct loan origination costs	1,658,600	421,300
Interest Rate Lock Commitments
Long Lived Assets Held-for-sale [Line Items]
Change in fair value	249,183	26,151	23
Derivative Instruments
Long Lived Assets Held-for-sale [Line Items]
Change in fair value	(115,216)	3,001	(5,347)
Originated Loans, Held For Sale At Fair Value
Long Lived Assets Held-for-sale [Line Items]
Change in fair value of loans	$ 99,908	$ 28,761	$ 3,695

CONSUMER LOANS - Narrative (Det

CONSUMER LOANS - Narrative (Details) $ / shares in Units, shares in Millions	Sep. 25, 2020USD ($)	Feb. 28, 2017USD ($)investor$ / sharesshares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Schedule of Consumer Loans [Line Items]
Warrants, at fair value			$ 23,218,000	$ 28,042,000
WarrantCo \| Consumer Portfolio Segment
Schedule of Consumer Loans [Line Items]
Number of warrants to be purchased (in shares) \| shares		177.7
Exercise price (in dollars per share) \| $ / shares		$ 0.01
Consumer Loan SPVs
Schedule of Consumer Loans [Line Items]
New Residential’s percentage ownership			53.50%
Refinanced asset-backed notes	$ 663,000,000
Proceeds in excess of the refinanced debt	2,600,000
Consumer Loan SPVs \| New Residential and Co Investors
Schedule of Consumer Loans [Line Items]
Proceeds in excess of the refinanced debt	$ 4,800,000
LoanCo \| Consumer Portfolio Segment
Schedule of Consumer Loans [Line Items]
New Residential’s percentage ownership		25.00%
Purchase agreement amount		$ 5,000,000,000
Terms of purchase agreement contract		2 years
Number of co-investors \| investor		3

CONSUMER LOANS - Summary of Inv

CONSUMER LOANS - Summary of Investment in Consumer Loans (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Schedule of Consumer Loans [Line Items]
Weighted Average Expected Life (Years)		2 years 2 months 12 days
Number of days delinquent	30 days
Consumer Portfolio Segment
Schedule of Consumer Loans [Line Items]
UPB of Underlying Mortgages		$ 620,983	$ 18,000
Consumer Portfolio Segment \| Parent Company
Schedule of Consumer Loans [Line Items]
UPB of Underlying Mortgages		620,983	823,917
Carrying Value		$ 685,575	$ 827,545
Weighted Average Coupon		17.40%	18.00%
Weighted Average Expected Life (Years)		3 years 7 months 6 days	3 years 10 months 24 days
Weighted average delinquency		4.40%	5.90%
Consumer Portfolio Segment \| Parent Company \| Other - Performing Loans
Schedule of Consumer Loans [Line Items]
UPB of Underlying Mortgages		$ 2,862	$ 9,158
Carrying Value		$ 2,643	$ 8,602
Weighted Average Coupon		15.30%	15.10%
Weighted Average Expected Life (Years)		4 months 24 days	8 months 12 days
Weighted average delinquency		4.30%	6.10%
Consumer Portfolio Segment \| Parent Company \| Other - Performing Loans \| Entirely Owned Loan Portfolio
Schedule of Consumer Loans [Line Items]
Interest in Consumer Loans		100.00%	100.00%
Consumer Portfolio Segment \| Parent Company \| Performing Loans
Schedule of Consumer Loans [Line Items]
UPB of Underlying Mortgages		$ 490,222	$ 644,676
Carrying Value		$ 553,419	$ 682,310
Weighted Average Coupon		18.30%	18.80%
Weighted Average Expected Life (Years)		3 years 7 months 6 days	4 years
Weighted average delinquency		3.70%	4.70%
Consumer Portfolio Segment \| Parent Company \| Performing Loans \| Consumer Loan SPVs
Schedule of Consumer Loans [Line Items]
Interest in Consumer Loans		53.50%	53.50%
Consumer Portfolio Segment \| Parent Company \| Non-Performing Loans
Schedule of Consumer Loans [Line Items]
UPB of Underlying Mortgages		$ 127,899	$ 170,083
Carrying Value		$ 129,513	$ 136,633
Weighted Average Coupon		14.10%	15.50%
Weighted Average Expected Life (Years)		3 years 6 months	3 years 8 months 12 days
Weighted average delinquency		7.40%	10.10%
Consumer Portfolio Segment \| Parent Company \| Non-Performing Loans \| Consumer Loan SPVs
Schedule of Consumer Loans [Line Items]
Interest in Consumer Loans		53.50%	53.50%

CONSUMER LOANS - Schedule of Ag

CONSUMER LOANS - Schedule of Aggregate Unpaid Principal Balance and Aggregate Carrying Value (Details) - Consumer Portfolio Segment - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	$ 620,983	$ 18,000
Fair Value	685,575
Fair Value Over (Under) Unpaid Principal Balance	64,592
Under 90 Days
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	611,978
Fair Value	675,691
Fair Value Over (Under) Unpaid Principal Balance	63,713
90 to 119
Schedule of Equity Method Investments [Line Items]
Unpaid Principal Balance	9,005
Fair Value	9,884
Fair Value Over (Under) Unpaid Principal Balance	$ 879

CONSUMER LOANS - Credit Quality

CONSUMER LOANS - Credit Quality Indicator (Details) - Consumer Portfolio Segment - Performing Loans	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Delinquency Status	100.00%
Financial Asset, 1 to 29 Days Past Due
Debt Securities, Available-for-sale [Line Items]
Delinquency Status	95.30%
Financial Asset, 30 to 59 Days Past Due
Debt Securities, Available-for-sale [Line Items]
Delinquency Status	1.80%
Financial Asset, 60 to 89 Days Past Due
Debt Securities, Available-for-sale [Line Items]
Delinquency Status	1.20%
90-119
Debt Securities, Available-for-sale [Line Items]
Delinquency Status	0.70%
120
Debt Securities, Available-for-sale [Line Items]
Delinquency Status	1.00%

CONSUMER LOANS - Carrying Value

CONSUMER LOANS - Carrying Value of Consumer Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loans Receivable [Roll Forward]
Proceeds from repayments	$ (139,561)	$ (113,602)	$ (147,403)
Accretion of loan discount and premium amortization, net	151,540	379,129	701,967
Consumer Portfolio Segment
Loans Receivable [Roll Forward]
Beginning balance	827,545
Fair value adjustment due to fair value option	36,472
Additional fundings	33,041
Proceeds from repayments	(229,218)
Accretion of loan discount and premium amortization, net	24,120
Changes in instrument-specific credit risk	5,195
Other factors	(11,580)
Ending balance	685,575	827,545
Consumer Portfolio Segment \| Performing Loans
Loans Receivable [Roll Forward]
Beginning balance	$ 690,912	889,285
Purchases		0
Additional fundings		54,375
Proceeds from repayments		(213,525)
Accretion of loan discount and premium amortization, net		186
Charge-offs		(38,563)
Additions to the allowance for loan losses, net		(846)
Ending balance		$ 690,912	$ 889,285

CONSUMER LOANS - Allowance for

CONSUMER LOANS - Allowance for Loan Losses on Performing Consumer Loans, Held-for-Investment (Details) - Consumer Portfolio Segment - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Total
UPB of Underlying Mortgages	$ 620,983	$ 18,000
Post-modification recorded investment		15,900
Performing Loans
Collectively Evaluated
Balance at December 31, 2018	555	2,604
Provision (reversal) for loan losses		30,008
Net charge-offs		(32,057)
Balance at December 31, 2019		555
Financing Receivable, Credit Loss, Expense (Reversal)		30,854
Individually Evaluated
Balance at December 31, 2018	2,910	2,064
Provision (reversal) for loan losses		846
Net charge-offs		0
Balance at December 31, 2019		2,910
Total
Balance at December 31, 2018	3,465	4,668
Net charge-offs		(32,057)
Balance at December 31, 2019		$ 3,465
Recovery of bad debts	$ 8,600

CONSUMER LOANS - Carrying Val_2

CONSUMER LOANS - Carrying Value of Purchased Deteriorated Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loans Receivable [Roll Forward]
Proceeds from repayments	$ (139,561)	$ (113,602)	$ (147,403)
Accretion of loan discount and other amortization	151,540	379,129	701,967
Consumer Portfolio Segment
Loans Receivable [Roll Forward]
Beginning balance	827,545
Proceeds from repayments	(229,218)
Accretion of loan discount and other amortization	24,120
Ending balance	685,575	827,545
Acquired Loans \| Consumer Portfolio Segment
Loans Receivable [Roll Forward]
Beginning balance	$ 136,633	182,917
(Allowance) reversal for loan losses		31
Proceeds from repayments		(78,519)
Accretion of loan discount and other amortization		32,204
Ending balance		$ 136,633	$ 182,917

CONSUMER LOANS - UPB and Carryi

CONSUMER LOANS - UPB and Carrying Value of Consumer Loans (Details) - Acquired Loans - Consumer Portfolio Segment $ in Thousands	Dec. 31, 2019USD ($)
Debt Securities, Available-for-sale [Line Items]
Unpaid Principal Balance	$ 170,083
Carrying Value	$ 136,633

CONSUMER LOANS - Accretable Yie

CONSUMER LOANS - Accretable Yield for Consumer Loans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Loans Receivable [Roll Forward]
Beginning balance	$ 68,632
Accretion	(16,041)
Ending balance	37,022
Consumer Portfolio Segment \| Acquired Loans
Loans Receivable [Roll Forward]
Beginning balance	126,518
Accretion	(32,204)
Reclassifications from (to) non-accretable difference	10,949
Ending balance	$ 105,263

CONSUMER LOANS - Summary of Equ

CONSUMER LOANS - Summary of Equity Method Investments Prior to Consolidation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Consumer Loans [Line Items]
Interest expense	$ (584,469)	$ (933,751)	$ (606,433)
Net income (loss)	(1,357,684)	605,933	1,004,531
New Residential’s equity in net income	0	(1,438)	10,803
Bonds and residual interests retained	$ 518,515	1,171,959	$ 900,491
Consumer Portfolio Segment \| LoanCo and WarrantCo
Schedule of Consumer Loans [Line Items]
Interest income		19,912
Interest expense		(6,487)
Change in fair value of consumer loans and warrants		(4,596)
Gain on sale of consumer loans		(10,711)
Other expenses		(3,871)
Net income (loss)		(5,753)
New Residential’s equity in net income		$ (1,438)
New Residential’s percentage ownership		25.00%
LoanCo
Schedule of Consumer Loans [Line Items]
Bonds and residual interests retained		$ 83,900
LoanCo \| Consumer Portfolio Segment
Schedule of Consumer Loans [Line Items]
Unpaid principal of consumer loans		$ 406,100

CONSUMER LOANS - Changes in Con

CONSUMER LOANS - Changes in Consumer Loan Equity Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Increase (Decrease) in Equity Method Investments [Roll Forward]
Distributions of capital from equity method investees	$ 0	$ (92,748)	$ (300,056)
Earnings from investments in consumer loans, equity method investees	0	(1,438)	10,803
Consumer Portfolio Segment \| LoanCo and WarrantCo
Increase (Decrease) in Equity Method Investments [Roll Forward]
Balance at beginning of period	$ 0	38,294
Contributions to equity method investees		64,499
Distributions of earnings from equity method investees		(8,607)
Distributions of capital from equity method investees		(92,748)
Earnings from investments in consumer loans, equity method investees		(1,438)
Balance at end of period		$ 0	$ 38,294

DERIVATIVES - Schedule of Deriv

DERIVATIVES - Schedule of Derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Derivative assets	$ 290,144	$ 41,501
Derivative liabilities	119,762	6,885
Interest Rate Swaps
Derivative [Line Items]
Derivative assets	0	155
Derivative liabilities	25	0
Variation margin accounts	237,700	171,700
Interest Rate Lock Commitments
Derivative [Line Items]
Derivative assets	289,355	41,346
Derivative liabilities	281	1,455
Forward Loan Sale Commitments
Derivative [Line Items]
Derivative liabilities	0	27
TBAs
Derivative [Line Items]
Derivative assets	789	0
Derivative liabilities	$ 119,456	$ 5,403

DERIVATIVES - Notional Amount (

DERIVATIVES - Notional Amount (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Interest Rate Caps
Derivative [Line Items]
Derivative asset, notional amount		$ 0	$ 12,500
Derivative, cap interest rate			4.00%
Derivative, notional amount			$ 12,500
Interest Rate Swaps
Derivative [Line Items]
Derivative asset, notional amount		6,515,000	$ 4,900,000
Interest Rate Swaps \| Short
Derivative [Line Items]
Derivative asset, notional amount		$ 0
Derivative, cap interest rate		0.00%	1.90%
Derivative, notional amount			$ 900,000
Average remaining maturity (in months)	87 months	0 months
Interest Rate Swaps \| Long
Derivative [Line Items]
Derivative, cap interest rate		2.20%	0.00%
Derivative, notional amount		$ 6,500,000	$ 0
Average remaining maturity (in months)	36 months	47 months
Interest Rate Lock Commitments
Derivative [Line Items]
Derivative asset, notional amount		$ 15,031,345	4,043,935
Forward Loan Sale Commitments
Derivative [Line Items]
Derivative asset, notional amount		0	43,654
TBAs \| Short
Derivative [Line Items]
Derivative liability, notional amount		23,529,408	5,048,000
TBAs \| Long
Derivative [Line Items]
Derivative liability, notional amount		$ 0	$ 11,692,212

DERIVATIVES - Gain (Losses) (De

DERIVATIVES - Gain (Losses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Other income (loss), net	$ (53,467)	$ (56,143)	$ (108,234)
Gain (loss) on settlement of investments, net	(74,812)	(129,923)	54,867
Gain on originated mortgage loans, held for sale, net	133,967	29,152	(5,324)
Total income (losses)	5,688	(156,914)	(58,691)
Gain (loss) on settlement of mortgage loan origination derivative instruments	(361,755)	(53,374)	1,234
Interest Rate Caps
Derivative [Line Items]
Other income (loss), net	0	(3)	431
Gain (loss) on settlement of investments, net	0	0	(603)
Interest Rate Swaps
Derivative [Line Items]
Other income (loss), net	(53,467)	(58,918)	(108,098)
Gain (loss) on settlement of investments, net	(2,685)	(8,671)	65,823
Interest Rate Lock Commitments
Derivative [Line Items]
Gain on originated mortgage loans, held for sale, net	249,183	26,151	23
Forward Loan Sale Commitments
Derivative [Line Items]
Gain on originated mortgage loans, held for sale, net	27	(66)	(283)
TBAs
Derivative [Line Items]
Other income (loss), net	0	2,778	(567)
Gain (loss) on settlement of investments, net	(72,127)	(121,252)	(10,353)
Gain on originated mortgage loans, held for sale, net	$ (115,243)	$ 3,067	$ (5,064)

DEBT OBLIGATIONS - Schedule of

DEBT OBLIGATIONS - Schedule of Debt Obligations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Outstanding Face Amount	$ 25,219,365,000
Carrying Value	$ 25,191,875,000	$ 35,636,373,000
Weighted Average Funding Cost	1.61%
Weighted Average Life (Years)	2 years 2 months 12 days
Interest payable	$ 44,623,000	68,668,000
Repurchase Agreements \| Non-Agency RMBS \| Retained Servicer Advance and Consumer Bonds
Debt Instrument [Line Items]
Carrying Value	25,200,000
Secured Notes And Bonds Payable \| Mr. Cooper
Debt Instrument [Line Items]
Outstanding Face Amount	5,700,000
Secured Notes And Bonds Payable \| 4.50% Agency MSR Secured Note And Bond Payable \| LIBOR
Debt Instrument [Line Items]
Outstanding Face Amount	$ 425,100,000
Variable interest rate spread	4.50%
Secured Notes And Bonds Payable \| 3.8% To 5.4% Public Notes
Debt Instrument [Line Items]
Outstanding Face Amount	$ 1,950,000,000
Secured Notes And Bonds Payable \| 2.9% Residential Mortgage Loans \| Mr. Cooper
Debt Instrument [Line Items]
Collateral amount	$ 1,500,000
Secured Notes And Bonds Payable \| 2.9% Residential Mortgage Loans \| LIBOR \| Mr. Cooper
Debt Instrument [Line Items]
Variable interest rate spread	2.90%
Secured Notes And Bonds Payable \| 3.2% To 5.00% Asset-Backed Notes
Debt Instrument [Line Items]
Outstanding Face Amount	$ 947,500,000
Secured Notes And Bonds Payable \| 3.2% To 5.00% Asset-Backed Notes \| LIBOR \| Minimum
Debt Instrument [Line Items]
Variable interest rate spread	3.20%
Secured Notes And Bonds Payable \| 3.2% To 5.00% Asset-Backed Notes \| LIBOR \| Maximum
Debt Instrument [Line Items]
Variable interest rate spread	5.00%
Secured Notes And Bonds Payable \| Servicer Advance Investments \| LIBOR \| Minimum
Debt Instrument [Line Items]
Variable interest rate spread	1.20%
Secured Notes And Bonds Payable \| Servicer Advance Investments \| LIBOR \| Maximum
Debt Instrument [Line Items]
Variable interest rate spread	1.90%
Repurchase Agreements \| Warehouse Credit Facilities-Residential Mortgage Loans
Debt Instrument [Line Items]
Outstanding Face Amount	$ 4,043,156,000
Carrying Value	$ 4,039,564,000	5,053,207,000
Weighted Average Funding Cost	2.18%
Weighted Average Life (Years)	7 months 6 days
Repurchase agreements	$ 258,000,000
Interest rate, stated percentage	4.40%
Repurchase Agreements \| Warehouse Credit Facilities-Residential Mortgage Loans \| Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	19 years 6 months
Outstanding Face	$ 4,370,264,000
Amortized Cost Basis	4,496,831,000
Carrying Value	4,465,054,000
Repurchase Agreements \| Non-Agency RMBS \| Collateral \| Retained Servicer Advance and Consumer Bonds
Debt Instrument [Line Items]
Carrying Value	35,100,000
Secured Financing Agreements
Debt Instrument [Line Items]
Outstanding Face Amount	17,552,126,000
Carrying Value	$ 17,547,680,000	27,916,225,000
Weighted Average Funding Cost	0.84%
Weighted Average Life (Years)	3 months 18 days
Interest payable	$ 48,500,000
Secured Financing Agreements \| Agency RMBS
Debt Instrument [Line Items]
Outstanding Face Amount	12,682,427,000
Carrying Value	$ 12,682,427,000	15,481,677,000
Weighted Average Funding Cost	0.24%
Weighted Average Life (Years)	2 months 12 days
Secured Financing Agreements \| Agency RMBS \| Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	10 months 24 days
Outstanding Face	$ 12,929,057,000
Amortized Cost Basis	13,715,013,000
Carrying Value	13,800,351,000
Secured Financing Agreements \| Non-Agency RMBS
Debt Instrument [Line Items]
Outstanding Face Amount	818,063,000
Carrying Value	$ 817,209,000	7,317,519,000
Weighted Average Funding Cost	3.48%
Weighted Average Life (Years)	3 months 18 days
Secured Financing Agreements \| Non-Agency RMBS \| Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	8 months 12 days
Outstanding Face	$ 17,183,226,000
Amortized Cost Basis	1,534,798,000
Carrying Value	1,548,351,000
Secured Financing Agreements \| Real Estate Owned
Debt Instrument [Line Items]
Outstanding Face Amount	8,480,000
Carrying Value	$ 8,480,000	63,822,000
Weighted Average Funding Cost	3.13%
Weighted Average Life (Years)	1 year 10 months 24 days
Secured Financing Agreements \| Real Estate Owned \| Collateral
Debt Instrument [Line Items]
Carrying Value	$ 11,098,000
Secured Notes And Bonds Payable
Debt Instrument [Line Items]
Outstanding Face Amount	7,667,239,000
Carrying Value	$ 7,644,195,000	7,720,148,000
Weighted Average Funding Cost	3.39%
Weighted Average Life (Years)	6 years 6 months
Secured Notes And Bonds Payable \| Excess MSRs
Debt Instrument [Line Items]
Outstanding Face Amount	$ 275,088,000
Carrying Value	$ 275,088,000	217,300,000
Weighted Average Funding Cost	4.36%
Weighted Average Life (Years)	3 years 8 months 12 days
Secured Notes And Bonds Payable \| Excess MSRs \| Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	6 years 1 month 6 days
Outstanding Face	$ 101,142,417,000
Amortized Cost Basis	317,234,000
Carrying Value	398,969,000
Secured Notes And Bonds Payable \| MSRs(B)
Debt Instrument [Line Items]
Outstanding Face Amount	2,704,923,000
Carrying Value	$ 2,691,791,000	2,640,036,000
Weighted Average Funding Cost	4.52%
Weighted Average Life (Years)	3 years 6 months
Secured Notes And Bonds Payable \| MSRs(B) \| Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	5 years 7 months 6 days
Outstanding Face	$ 416,212,194,000
Amortized Cost Basis	4,457,541,000
Carrying Value	4,400,657,000
Secured Notes And Bonds Payable \| Servicer Advance Investments
Debt Instrument [Line Items]
Outstanding Face Amount	423,144,000
Carrying Value	$ 423,144,000	443,248,000
Weighted Average Funding Cost	1.45%
Weighted Average Life (Years)	1 year 6 months
Secured Notes And Bonds Payable \| Servicer Advance Investments \| Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	6 years
Outstanding Face	$ 449,150,000
Amortized Cost Basis	512,958,000
Carrying Value	538,056,000
Secured Notes And Bonds Payable \| Servicer Advances
Debt Instrument [Line Items]
Outstanding Face Amount	2,593,643,000
Carrying Value	$ 2,585,575,000	2,738,424,000
Weighted Average Funding Cost	2.42%
Weighted Average Life (Years)	1 year 9 months 18 days
Secured Notes And Bonds Payable \| Servicer Advances \| Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	8 months 12 days
Outstanding Face	$ 2,970,329,000
Amortized Cost Basis	3,002,267,000
Carrying Value	3,002,267,000
Secured Notes And Bonds Payable \| Residential Mortgage Loans
Debt Instrument [Line Items]
Outstanding Face Amount	1,045,275,000
Carrying Value	$ 1,039,838,000	864,451,000
Weighted Average Funding Cost	4.25%
Weighted Average Life (Years)	30 years 2 months 12 days
Secured Notes And Bonds Payable \| Residential Mortgage Loans \| Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	4 years 9 months 18 days
Outstanding Face	$ 1,602,289,000
Amortized Cost Basis	1,535,095,000
Carrying Value	1,365,250,000
Secured Notes And Bonds Payable \| Consumer Loans
Debt Instrument [Line Items]
Outstanding Face Amount	625,166,000
Carrying Value	$ 628,759,000	$ 816,689,000
Weighted Average Funding Cost	2.03%
Weighted Average Life (Years)	3 years 7 months 6 days
Secured Notes And Bonds Payable \| Consumer Loans \| Collateral
Debt Instrument [Line Items]
Weighted Average Life (Years)	3 years 7 months 6 days
Outstanding Face	$ 618,055,000
Amortized Cost Basis	682,866,000
Carrying Value	682,866,000
Secured Notes And Bonds Payable \| 4.40% Secured Corporate Note
Debt Instrument [Line Items]
Outstanding Face Amount	$ 275,100,000
Secured Notes And Bonds Payable \| 4.40% Secured Corporate Note \| LIBOR
Debt Instrument [Line Items]
Variable interest rate spread	4.40%
Secured Notes And Bonds Payable \| 4.50% Agency MSR Secured Note And Bond Payable
Debt Instrument [Line Items]
Outstanding Face Amount	$ 329,900,000
Secured Notes And Bonds Payable \| 3.8% To 5.4% Public Notes \| Minimum
Debt Instrument [Line Items]
Outstanding Face Amount	0.038
Secured Notes And Bonds Payable \| 3.8% To 5.4% Public Notes \| Maximum
Debt Instrument [Line Items]
Outstanding Face Amount	0.054
Secured Notes And Bonds Payable \| 6.6% Asset-Backed Notes
Debt Instrument [Line Items]
Outstanding Face Amount	$ 150,900,000
Interest rate, stated percentage	6.60%
Secured Notes And Bonds Payable \| 3.7% Asset-Backed Notes
Debt Instrument [Line Items]
Outstanding Face Amount	$ 58,300,000
Secured Notes And Bonds Payable \| 3.7% Asset-Backed Notes \| Maximum
Debt Instrument [Line Items]
Weighted Average Funding Cost	3.70%
Secured Notes And Bonds Payable \| Servicer Advance Investments
Debt Instrument [Line Items]
Face amount of fixed rate debt	$ 2,000,000,000
Secured Notes And Bonds Payable \| Consumer Loan, UPB Class A
Debt Instrument [Line Items]
Interest rate, stated percentage	2.00%
UPB of Underlying Mortgages	$ 572,100,000
Secured Notes And Bonds Payable \| Consumer Loan, UPB Class B
Debt Instrument [Line Items]
Interest rate, stated percentage	2.70%
UPB of Underlying Mortgages	$ 53,000,000

DEBT OBLIGATIONS - Narrative (D

DEBT OBLIGATIONS - Narrative (Details) $ in Thousands	Sep. 16, 2020USD ($)	May 19, 2020USD ($)	Aug. 31, 2020USD ($)	Dec. 31, 2020USD ($)agreement	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Face amount of debt				$ 25,219,365
(Gain) loss on extinguishment of debt				66,233	$ 8,532	$ 624
Interest expense				584,469	933,751	$ 606,433
2020 Term Loan
Debt Instrument [Line Items]
Debt instrument, term		3 years
Principal amount		$ 600,000
Interest rate, stated percentage		11.00%
Expiration period		3 years
Fair value of warrants issued		$ 53,500
Prepayment of term loan			$ 51,000
(Gain) loss on extinguishment of debt			$ 5,700
Interest expense				25,441	$ 0
Secured Financing Agreements
Debt Instrument [Line Items]
Face amount of debt				17,600,000
Secured Financing Agreements
Debt Instrument [Line Items]
Face amount of debt				17,552,126
Senior Notes
Debt Instrument [Line Items]
Issuance fees				$ 8,400
Senior Notes \| 2025 Senior Notes
Debt Instrument [Line Items]
Face amount of debt	$ 550,000
Interest rate, stated percentage	6.25%
(Gain) loss on extinguishment of debt	$ 61,100
Redemption maximum principal amount percentage	0.40
Debt redemption percentage	106.25%			101.00%
Borrowings under secured financing agreements	$ 544,500
Issuance fees				$ 9,000
Interest expense				$ 10,000
Debt instrument, restrictive covenants, minimum total unencumbered assets maintenance requirement				1.20
Stockholders' Equity \| Counterpary Concentration Risk Exceeding 10% \| Repurchase Agreements
Debt Instrument [Line Items]
Number of outstanding repurchase agreements \| agreement				0

DEBT OBLIGATIONS - Carrying Val

DEBT OBLIGATIONS - Carrying Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Roll Forward]
Beginning balance	$ 35,636,373
Repayments	(122,526,887)	$ (196,120,793)	$ (85,915,552)
Ending balance	25,733,391	35,636,373
Operating Segments
Debt Instrument [Roll Forward]
Beginning balance	35,636,373	22,656,235
Ending balance	25,191,875	35,636,373	22,656,235
Excess MSRs \| Operating Segments
Debt Instrument [Roll Forward]
Beginning balance	217,300	297,563
Ending balance	275,088	217,300	297,563
MSRs \| Operating Segments
Debt Instrument [Roll Forward]
Beginning balance	2,640,036	2,360,856
Ending balance	2,691,791	2,640,036	2,360,856
Servicer Advances \| Operating Segments
Debt Instrument [Roll Forward]
Beginning balance	3,181,672	3,382,455
Ending balance	3,008,719	3,181,672	3,382,455
Real Estate Securities \| Operating Segments
Debt Instrument [Roll Forward]
Beginning balance	22,799,196	11,780,855
Ending balance	13,499,636	22,799,196	11,780,855
Residential mortgage loans and REO \| Operating Segments
Debt Instrument [Roll Forward]
Beginning balance	5,981,480	3,898,059
Ending balance	5,087,882	5,981,480	3,898,059
Consumer Loans \| Operating Segments
Debt Instrument [Roll Forward]
Beginning balance	816,689	936,447
Ending balance	628,759	816,689	$ 936,447
Secured Financing Agreements \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	176,681,783	243,316,628
Repayments	(187,047,368)	(230,954,107)
Capitalized deferred financing costs, net of amortization	2,960	(264)
Secured Financing Agreements \| Excess MSRs \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	0	0
Repayments	0	0
Capitalized deferred financing costs, net of amortization	0	0
Secured Financing Agreements \| MSRs \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	0	0
Repayments	0	0
Capitalized deferred financing costs, net of amortization	0	0
Secured Financing Agreements \| Servicer Advances \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	0	0
Repayments	0	0
Capitalized deferred financing costs, net of amortization	0	0
Secured Financing Agreements \| Real Estate Securities \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	113,228,180	207,138,969
Repayments	(122,526,887)	(196,120,793)
Capitalized deferred financing costs, net of amortization	853	165
Secured Financing Agreements \| Residential mortgage loans and REO \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	63,453,603	36,177,659
Repayments	(64,520,481)	(34,833,314)
Capitalized deferred financing costs, net of amortization	2,107	(429)
Secured Financing Agreements \| Consumer Loans \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	0	0
Repayments	0	0
Capitalized deferred financing costs, net of amortization	0	0
Secured Notes And Bonds Payable \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	9,380,533	9,706,864
Repayments	(9,447,770)	(9,303,527)
Capitalized deferred financing costs, net of amortization	(6,800)	(2,422)
Acquisitions		209,459
Discount on borrowings, net of amortization	(2,882)	6,271
Unrealized (gain) loss on notes, fair value	966	1,236
Secured Notes And Bonds Payable \| Excess MSRs \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	193,357	456,741
Repayments	(135,569)	(537,200)
Capitalized deferred financing costs, net of amortization	0	196
Acquisitions		0
Discount on borrowings, net of amortization	0	0
Unrealized (gain) loss on notes, fair value	0	0
Secured Notes And Bonds Payable \| MSRs \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	3,575,811	2,456,410
Repayments	(3,517,429)	(2,178,755)
Capitalized deferred financing costs, net of amortization	(6,627)	1,525
Acquisitions		0
Discount on borrowings, net of amortization	0	0
Unrealized (gain) loss on notes, fair value	0	0
Secured Notes And Bonds Payable \| Servicer Advances \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	4,072,560	4,952,585
Repayments	(4,245,295)	(5,149,327)
Capitalized deferred financing costs, net of amortization	(218)	(4,143)
Acquisitions		0
Discount on borrowings, net of amortization	0	102
Unrealized (gain) loss on notes, fair value	0	0
Secured Notes And Bonds Payable \| Real Estate Securities \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	0	0
Repayments	0	0
Capitalized deferred financing costs, net of amortization	0	0
Acquisitions		0
Discount on borrowings, net of amortization	0	0
Unrealized (gain) loss on notes, fair value	0	0
Secured Notes And Bonds Payable \| Residential mortgage loans and REO \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	875,758	912,445
Repayments	(697,789)	(383,635)
Capitalized deferred financing costs, net of amortization	45	0
Acquisitions		209,459
Discount on borrowings, net of amortization	0	0
Unrealized (gain) loss on notes, fair value	(2,627)	1,236
Secured Notes And Bonds Payable \| Consumer Loans \| Operating Segments
Debt Instrument [Roll Forward]
Borrowings	663,047	928,683
Repayments	(851,688)	(1,054,610)
Capitalized deferred financing costs, net of amortization	0	0
Acquisitions		0
Discount on borrowings, net of amortization	(2,882)	6,169
Unrealized (gain) loss on notes, fair value	$ 3,593	$ 0

DEBT OBLIGATIONS - Contractual

DEBT OBLIGATIONS - Contractual Maturities of Debt Obligations (Details) $ in Thousands	Dec. 31, 2020USD ($)
Debt maturing in:
2021	$ 18,068,967
2022	2,060,621
2023	1,502,851
2024	583,801
2025	2,145,896
2026 and thereafter	1,407,229
Total long-term debt	25,769,365
Nonrecourse
Debt maturing in:
2021	882,761
2022	800,000
2023	1,200,000
2024	0
2025	257,468
2026 and thereafter	1,407,229
Total long-term debt	4,547,458
Nonrecourse, Secured Notes And Bonds Payable
Debt maturing in:
Total long-term debt	4,500,000
Recourse
Debt maturing in:
2021	17,186,206
2022	1,260,621
2023	302,851
2024	583,801
2025	1,888,428
2026 and thereafter	0
Total long-term debt	21,221,907
Recourse, Secured Financing Agreements
Debt maturing in:
Total long-term debt	17,700,000
Recourse, Secured Notes And Bonds Payable
Debt maturing in:
Total long-term debt	$ 3,500,000

DEBT OBLIGATIONS - Schedule o_2

DEBT OBLIGATIONS - Schedule of Borrowing Capacity (Details) $ in Thousands	Dec. 31, 2020USD ($)
Residential mortgage loans and REO
Debt Instrument [Line Items]
Borrowing Capacity	$ 4,913,746
Balance Outstanding	1,254,198
Available Financing	3,659,548
New Loan Originations
Debt Instrument [Line Items]
Borrowing Capacity	6,823,000
Balance Outstanding	2,797,437
Available Financing	4,025,563
Excess MSRs
Debt Instrument [Line Items]
Borrowing Capacity	286,380
Balance Outstanding	275,088
Available Financing	11,292
MSRs(B)
Debt Instrument [Line Items]
Borrowing Capacity	3,689,991
Balance Outstanding	2,704,923
Available Financing	985,068
Servicer Advances
Debt Instrument [Line Items]
Borrowing Capacity	4,365,000
Balance Outstanding	3,016,787
Available Financing	1,348,213
Debt Borrowing Capacity
Debt Instrument [Line Items]
Borrowing Capacity	20,078,117
Balance Outstanding	10,048,433
Available Financing	$ 10,029,684

DEBT OBLIGATIONS - Schedule o_3

DEBT OBLIGATIONS - Schedule of Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	May 19, 2020
Debt Instrument [Line Items]
Amortization of debt discounts and issuance costs	$ 22,733	$ 4,019	$ 7,795
Total	584,469	933,751	$ 606,433
2020 Term Loan
Debt Instrument [Line Items]
Coupon interest at 11.00%	20,435	0
Amortization of debt discounts and issuance costs	5,006	0
Total	$ 25,441	$ 0
Interest rate, stated percentage				11.00%

DEBT OBLIGATIONS - Schedule o_4

DEBT OBLIGATIONS - Schedule of Debt Redemption (Details) - 2025 Senior Notes - Senior Notes	Sep. 16, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Debt redemption percentage	106.25%	101.00%
2022
Debt Instrument [Line Items]
Debt redemption percentage	103.125%
2023
Debt Instrument [Line Items]
Debt redemption percentage	101.563%
2024 and thereafter
Debt Instrument [Line Items]
Debt redemption percentage	100.00%

FAIR VALUE MEASUREMENT - Carryi

FAIR VALUE MEASUREMENT - Carrying Values and Fair Values of Financial Assets and Liabilities Recorded at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Investments in:
Excess mortgage servicing rights, at fair value	$ 410,855		$ 505,343
Mortgage servicing rights, at fair value	4,585,841		5,686,233		$ 4,528,604
Mortgage servicing rights financing receivables, at fair value	1,096,166		1,718,273
Real estate and other securities	14,244,558		19,477,728
Residential mortgage loans, held-for-investment, fair value	4,705,816		4,613,612
Residential mortgage loans subject to repurchase, at fair value	1,452,005	[1]	172,336	[1]	$ 121,602
Derivative assets, at fair value	290,144		41,501
Restricted cash, at fair value	135,619		162,197
Liabilities:
Residential mortgage loan repurchase liability, at fair value	26,748		25,435
Derivative liabilities, at fair value	119,762		6,885
Excess spread financing, at fair value	18,420		31,777
Recurring Basis
Investments in:
Excess mortgage servicing rights, principal balance	72,688,905		88,345,237
Excess mortgage servicing rights, equity method investees, principal balance	28,453,512		33,592,554
Mortgage servicing rights, principal balance	363,269,876		373,850,061
Mortgage servicing rights, financing receivables, principal balance	72,165,951		130,984,870
Servicer advance investments, principal balance	449,150		462,843
Real estate and other securities, principal balance	31,869,681		36,159,591
Residential mortgage loans, held-for-investment, principal balance			502,352
Residential mortgage loans, held-for-sale, principal balance	637,138		1,531,505
Residential mortgage loans, held for sale, principal balance	4,675,833		4,675,806
Residential mortgage loans, held-for-investment, principal balance	769,348		452,771
Residential mortgage loans subject to repurchase, principal balance	1,452,005		172,336
Consumer loans, principal balance	620,983		823,917
Derivative assets, principal balance	38,427,601		8,360,894
Notes receivable, principal balance	49,075
Cash and cash equivalents, principal balance	944,854		528,737
Restricted cash, principal balance	135,619		162,197
Liabilities:
Secured financing agreements, principal balance	17,552,126		27,917,709
Secured notes and bonds payable, principal balance	7,667,239		7,733,135
Residential mortgage loan repurchase liability, principal balance	1,452,005		172,336
Derivative liabilities, principal balance	6,648,152		17,379,407
Excess spread financing, principal balance	2,190,991		2,962,629
Mortgage backed securities, issued at fair value	1,700,000		659,700
Recurring Basis \| Unsecured Senior Notes
Liabilities:
Unsecured senior notes, net of issuance costs, principal balance	541,516
Recurring Basis \| Carrying Value
Investments in:
Excess mortgage servicing rights, at fair value	310,938		379,747
Excess mortgage servicing rights, equity method investees, at fair value	99,917		125,596
Mortgage servicing rights, at fair value	3,489,675		3,967,960
Mortgage servicing rights financing receivables, at fair value	1,096,166		1,718,273
Servicer advance investments, at fair value	538,056		581,777
Real estate and other securities	14,244,558		19,477,728
Residential mortgage loans, held-for-investment, at fair value			441,263
Residential mortgage loans, held-for-sale, at fair value	509,887		1,429,052
Residential mortgage loans, held for sale, at fair value	4,705,816		4,613,612
Residential mortgage loans, held-for-investment, fair value	674,179		484,443
Residential mortgage loans subject to repurchase, at fair value	1,452,005		172,336
Consumer loans, at fair value	685,575		827,545
Derivative assets, at fair value	290,144		41,501
Notes receivable, at fair value	49,889
Cash and cash equivalents, at fair value	944,854		528,737
Restricted cash, at fair value	135,619		162,197
Other assets, at fair value	48,032		60,654
Assets, fair value	29,275,310		35,012,421
Liabilities:
Secured financing agreements, at fair value	17,547,680		27,916,225
Secured notes and bonds payable, at fair value	7,644,195		7,720,148
Residential mortgage loan repurchase liability, at fair value	1,452,005		172,336
Derivative liabilities, at fair value	119,762		6,885
Excess spread financing, at fair value	18,420		31,777
Contingent consideration	14,247		55,222
Liabilities, fair value	27,337,825		35,902,593
Recurring Basis \| Carrying Value \| Unsecured Senior Notes
Liabilities:
Unsecured senior notes, net of issuance costs, fair value	541,516
Recurring Basis \| Fair Value
Investments in:
Excess mortgage servicing rights, at fair value	310,938		379,747
Excess mortgage servicing rights, equity method investees, at fair value	99,917		125,596
Mortgage servicing rights, at fair value	3,489,675		3,967,960
Mortgage servicing rights financing receivables, at fair value	1,096,166		1,718,273
Servicer advance investments, at fair value	538,056		581,777
Real estate and other securities	14,244,558		19,477,728
Residential mortgage loans, held-for-investment, at fair value			435,234
Residential mortgage loans, held-for-sale, at fair value	509,887		1,438,302
Residential mortgage loans, held for sale, at fair value	4,705,816		4,613,612
Residential mortgage loans, held-for-investment, fair value	674,179		484,443
Residential mortgage loans subject to repurchase, at fair value	1,452,005		172,336
Consumer loans, at fair value	685,575		849,739
Derivative assets, at fair value	290,144		41,501
Notes receivable, at fair value	49,889
Cash and cash equivalents, at fair value	944,854		528,737
Restricted cash, at fair value	135,619		162,197
Other assets, at fair value	48,032		60,655
Assets, fair value	29,275,310		35,037,837
Liabilities:
Secured financing agreements, at fair value	17,552,126		27,917,709
Secured notes and bonds payable, at fair value	7,651,325		7,779,060
Residential mortgage loan repurchase liability, at fair value	1,452,005		172,336
Derivative liabilities, at fair value	119,762		6,885
Excess spread financing, at fair value	18,420		31,777
Contingent consideration	14,247		55,222
Liabilities, fair value	27,349,401		35,962,989
Recurring Basis \| Fair Value \| Equal to Greater than 90 Days Past Due
Investments in:
Residential mortgage loans, held for sale, at fair value			267,700
Residential mortgage loans, held-for-investment, fair value			21,600
Other assets, at fair value			74,000
Recurring Basis \| Fair Value \| Unsecured Senior Notes
Liabilities:
Unsecured senior notes, net of issuance costs, fair value	541,516
Recurring Basis \| Fair Value \| Level 1
Investments in:
Excess mortgage servicing rights, at fair value	0		0
Excess mortgage servicing rights, equity method investees, at fair value	0		0
Mortgage servicing rights, at fair value	0		0
Mortgage servicing rights financing receivables, at fair value	0		0
Servicer advance investments, at fair value	0		0
Real estate and other securities	0		0
Residential mortgage loans, held-for-investment, at fair value			0
Residential mortgage loans, held-for-sale, at fair value	0		0
Residential mortgage loans, held for sale, at fair value	0		0
Residential mortgage loans, held-for-investment, fair value	0		0
Residential mortgage loans subject to repurchase, at fair value	0		0
Consumer loans, at fair value	0		0
Derivative assets, at fair value	0		0
Notes receivable, at fair value	0
Cash and cash equivalents, at fair value	944,854		528,737
Restricted cash, at fair value	135,619		162,197
Other assets, at fair value	11,187		7,952
Assets, fair value	1,091,660		698,886
Liabilities:
Secured financing agreements, at fair value	0		0
Secured notes and bonds payable, at fair value	0		0
Residential mortgage loan repurchase liability, at fair value	0		0
Derivative liabilities, at fair value	0		0
Excess spread financing, at fair value	0		0
Contingent consideration	0		0
Liabilities, fair value	0		0
Recurring Basis \| Fair Value \| Level 1 \| Unsecured Senior Notes
Liabilities:
Unsecured senior notes, net of issuance costs, fair value	0
Recurring Basis \| Fair Value \| Level 2
Investments in:
Excess mortgage servicing rights, at fair value	0		0
Excess mortgage servicing rights, equity method investees, at fair value	0		0
Mortgage servicing rights, at fair value	0		0
Mortgage servicing rights financing receivables, at fair value	0		0
Servicer advance investments, at fair value	0		0
Real estate and other securities	13,063,634		11,519,943
Residential mortgage loans, held-for-investment, at fair value			0
Residential mortgage loans, held-for-sale, at fair value	0		0
Residential mortgage loans, held for sale, at fair value	3,059,611		1,099,230
Residential mortgage loans, held-for-investment, fair value	0		0
Residential mortgage loans subject to repurchase, at fair value	1,452,005		172,336
Consumer loans, at fair value	0		0
Derivative assets, at fair value	789		155
Notes receivable, at fair value	0
Cash and cash equivalents, at fair value	0		0
Restricted cash, at fair value	0		0
Other assets, at fair value	0		0
Assets, fair value	17,576,039		12,791,664
Liabilities:
Secured financing agreements, at fair value	17,552,126		27,917,709
Secured notes and bonds payable, at fair value	0		0
Residential mortgage loan repurchase liability, at fair value	1,452,005		172,336
Derivative liabilities, at fair value	119,481		5,430
Excess spread financing, at fair value	0		0
Contingent consideration	0		0
Liabilities, fair value	19,123,612		28,095,475
Recurring Basis \| Fair Value \| Level 2 \| Unsecured Senior Notes
Liabilities:
Unsecured senior notes, net of issuance costs, fair value	0
Recurring Basis \| Fair Value \| Level 3
Investments in:
Excess mortgage servicing rights, at fair value	310,938		379,747
Excess mortgage servicing rights, equity method investees, at fair value	99,917		125,596
Mortgage servicing rights, at fair value	3,489,675		3,967,960
Mortgage servicing rights financing receivables, at fair value	1,096,166		1,718,273
Servicer advance investments, at fair value	538,056		581,777
Real estate and other securities	1,180,924		7,957,785
Residential mortgage loans, held-for-investment, at fair value			435,234
Residential mortgage loans, held-for-sale, at fair value	509,887		1,438,302
Residential mortgage loans, held for sale, at fair value	1,646,205		3,514,382
Residential mortgage loans, held-for-investment, fair value	674,179		484,443
Residential mortgage loans subject to repurchase, at fair value	0		0
Consumer loans, at fair value	685,575		849,739
Derivative assets, at fair value	289,355		41,346
Notes receivable, at fair value	49,889
Cash and cash equivalents, at fair value	0		0
Restricted cash, at fair value	0		0
Other assets, at fair value	36,845		52,703
Assets, fair value	10,607,611		21,547,287
Liabilities:
Secured financing agreements, at fair value	0		0
Secured notes and bonds payable, at fair value	7,651,325		7,779,060
Residential mortgage loan repurchase liability, at fair value	0		0
Derivative liabilities, at fair value	281		1,455
Excess spread financing, at fair value	18,420		31,777
Contingent consideration	14,247		55,222
Liabilities, fair value	8,225,789		$ 7,867,514
Recurring Basis \| Fair Value \| Level 3 \| Unsecured Senior Notes
Liabilities:
Unsecured senior notes, net of issuance costs, fair value	541,516
Recurring Basis \| Fair Value \| Fair Value Measured at Net Asset Value Per Share
Investments in:
Other assets, at fair value	$ 31,800

[1]	See Note 6 for details.

FAIR VALUE MEASUREMENT - Financ

FAIR VALUE MEASUREMENT - Financial Assets Measured at Fair Value on a Recurring Basis using Level 3 Inputs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning
Purchases, sales and repayments
Purchases, net(G)		$ 16,123,332
Balance, ending
Non-Agency
Fair Value, Assets Measured on Recurring Basis, Gains (losses) included in net income
Included in gain (loss) on settlement of investments, net	$ (953,500)	97,200
Excess MSRs Investees
Purchases, sales and repayments
New Residential’s percentage ownership	50.00%
Recurring Basis \| Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	$ 18,769,854	17,172,492
Transfers
Transfers from Level 3	(718,892)	(32,806)
Transfers to Level 3	1,272,585	315,577
Acquisition		589,774
Transfers from MSR financing receivables to MSRs	0	0
Fair Value, Assets Measured on Recurring Basis, Gains (losses) included in net income
Included in other-than-temporary impairment on securities	(13,404)	(25,174)
Included in change in fair value of investments in excess mortgage servicing rights	(16,232)	(10,505)
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	(3,489)	6,800
Included in servicing revenue, net	(1,903,905)	(721,356)
Included in change in fair value of investments in mortgage servicing rights financing receivable		(189,023)
Included in change in fair value of servicer advance investments	763	10,288
Included in change in fair value of residential mortgage loans	(107,604)	(63,347)
Included in gain (loss) on settlement of investments, net	(953,474)	98,700
Included in other income (loss), net	179,826	33,706
Gains (losses) included in other comprehensive income	(549,650)	238,217
Included in change in fair value of investments in mortgage servicing rights financing receivables	(279,168)
Interest income	176,027	363,018
Purchases, sales and repayments
Purchases, net(G)	4,749,520
Proceeds from sales	(8,696,769)	(12,622,386)
Proceeds from repayments	(2,560,005)	(3,735,969)
Originations and other	664,726	1,218,516
Balance, ending	10,010,709	18,769,854
Recurring Basis \| Level 3 \| Servicer Advance Investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	581,777	735,846
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	0	0
Acquisition		0
Transfers from MSR financing receivables to MSRs	0	0
Fair Value, Assets Measured on Recurring Basis, Gains (losses) included in net income
Included in other-than-temporary impairment on securities	0	0
Included in change in fair value of investments in excess mortgage servicing rights	0	0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	0	0
Included in servicing revenue, net	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivable		0
Included in change in fair value of servicer advance investments	763	10,288
Included in change in fair value of residential mortgage loans	0	0
Included in gain (loss) on settlement of investments, net	0	0
Included in other income (loss), net	0	0
Gains (losses) included in other comprehensive income	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivables	0
Interest income	18,182	27,666
Purchases, sales and repayments
Purchases, net(G)	1,294,757	1,622,808
Proceeds from sales	0	0
Proceeds from repayments	(1,357,423)	(1,814,831)
Originations and other	0	0
Balance, ending	538,056	581,777
Recurring Basis \| Level 3 \| MSRs
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	3,967,960	2,884,100
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	0	0
Acquisition		387,170
Transfers from MSR financing receivables to MSRs	320,613	(367,121)
Fair Value, Assets Measured on Recurring Basis, Gains (losses) included in net income
Included in other-than-temporary impairment on securities	0	0
Included in change in fair value of investments in excess mortgage servicing rights	0	0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	0	0
Included in servicing revenue, net	(1,903,905)	(721,356)
Included in change in fair value of investments in mortgage servicing rights financing receivable		0
Included in change in fair value of servicer advance investments	0	0
Included in change in fair value of residential mortgage loans	0	0
Included in gain (loss) on settlement of investments, net	0	0
Included in other income (loss), net	0	0
Gains (losses) included in other comprehensive income	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivables	0
Interest income	0	0
Purchases, sales and repayments
Purchases, net(G)	449,875	678,424
Proceeds from sales	(11,282)	(1,539)
Proceeds from repayments	0	0
Originations and other	666,414	374,040
Balance, ending	3,489,675	3,967,960
Recurring Basis \| Level 3 \| Mortgage Servicing Rights Financing Receivables
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	1,718,273	1,644,504
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	0	0
Acquisition		0
Transfers from MSR financing receivables to MSRs	(320,613)	367,121
Fair Value, Assets Measured on Recurring Basis, Gains (losses) included in net income
Included in other-than-temporary impairment on securities	0	0
Included in change in fair value of investments in excess mortgage servicing rights	0	0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	0	0
Included in servicing revenue, net	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivable		(189,023)
Included in change in fair value of servicer advance investments	0	0
Included in change in fair value of residential mortgage loans	0	0
Included in gain (loss) on settlement of investments, net	0	0
Included in other income (loss), net	0	0
Gains (losses) included in other comprehensive income	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivables	(279,168)
Interest income	0	0
Purchases, sales and repayments
Purchases, net(G)	(18,267)	652,902
Proceeds from sales	(4,059)	(22,989)
Proceeds from repayments	0	0
Originations and other	0	0
Balance, ending	1,096,166	1,718,273
Recurring Basis \| Level 3 \| Non-Agency
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	7,957,785	8,970,963
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	0	0
Acquisition		(178,435)
Transfers from MSR financing receivables to MSRs	0	0
Fair Value, Assets Measured on Recurring Basis, Gains (losses) included in net income
Included in other-than-temporary impairment on securities	(13,404)	(25,174)
Included in change in fair value of investments in excess mortgage servicing rights	0	0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	0	0
Included in servicing revenue, net	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivable		0
Included in change in fair value of servicer advance investments	0	0
Included in change in fair value of residential mortgage loans	0	0
Included in gain (loss) on settlement of investments, net	(953,541)	97,191
Included in other income (loss), net	(42,506)	2,101
Gains (losses) included in other comprehensive income	(580,102)	238,217
Included in change in fair value of investments in mortgage servicing rights financing receivables	0
Interest income	105,373	302,705
Purchases, sales and repayments
Purchases, net(G)	575,030	2,058,953
Proceeds from sales	(5,288,480)	(1,949,300)
Proceeds from repayments	(577,543)	(1,559,436)
Originations and other	(1,688)	0
Balance, ending	1,180,924	7,957,785
Recurring Basis \| Level 3 \| Derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	39,891	10,628
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	0	0
Acquisition		0
Transfers from MSR financing receivables to MSRs	0	0
Fair Value, Assets Measured on Recurring Basis, Gains (losses) included in net income
Included in other-than-temporary impairment on securities	0	0
Included in change in fair value of investments in excess mortgage servicing rights	0	0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	0	0
Included in servicing revenue, net	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivable		0
Included in change in fair value of servicer advance investments	0	0
Included in change in fair value of residential mortgage loans	0	0
Included in gain (loss) on settlement of investments, net	0	0
Included in other income (loss), net	249,183	29,263
Gains (losses) included in other comprehensive income	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivables	0
Interest income	0	0
Purchases, sales and repayments
Purchases, net(G)	0	0
Proceeds from sales	0	0
Proceeds from repayments	0	0
Originations and other	0	0
Balance, ending	289,074	39,891
Recurring Basis \| Level 3 \| Residential Mortgage Loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	3,998,825	2,330,627
Transfers
Transfers from Level 3	(718,892)	(32,806)
Transfers to Level 3	445,040	315,577
Acquisition		381,039
Transfers from MSR financing receivables to MSRs	0	0
Fair Value, Assets Measured on Recurring Basis, Gains (losses) included in net income
Included in other-than-temporary impairment on securities	0	0
Included in change in fair value of investments in excess mortgage servicing rights	0	0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	0	0
Included in servicing revenue, net	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivable		0
Included in change in fair value of servicer advance investments	0	0
Included in change in fair value of residential mortgage loans	(107,604)	(63,347)
Included in gain (loss) on settlement of investments, net	0	0
Included in other income (loss), net	(8,276)	0
Gains (losses) included in other comprehensive income	(6,020)	0
Included in change in fair value of investments in mortgage servicing rights financing receivables	0
Interest income	0	0
Purchases, sales and repayments
Purchases, net(G)	2,415,084	11,110,245
Proceeds from sales	(3,391,887)	(10,638,483)
Proceeds from repayments	(305,886)	(248,503)
Originations and other	0	844,476
Balance, ending	2,320,384	3,998,825
Recurring Basis \| Level 3 \| Consumer Loans
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	0	0
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	827,545	0
Acquisition		0
Transfers from MSR financing receivables to MSRs	0	0
Fair Value, Assets Measured on Recurring Basis, Gains (losses) included in net income
Included in other-than-temporary impairment on securities	0	0
Included in change in fair value of investments in excess mortgage servicing rights	0	0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	0	0
Included in servicing revenue, net	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivable		0
Included in change in fair value of servicer advance investments	0	0
Included in change in fair value of residential mortgage loans	0	0
Included in gain (loss) on settlement of investments, net	0	0
Included in other income (loss), net	(6,385)	0
Gains (losses) included in other comprehensive income	36,472	0
Included in change in fair value of investments in mortgage servicing rights financing receivables	0
Interest income	24,120	0
Purchases, sales and repayments
Purchases, net(G)	33,041	0
Proceeds from sales	0	0
Proceeds from repayments	(229,218)	0
Originations and other	0	0
Balance, ending	685,575	0
Recurring Basis \| Level 3 \| MSRs Agency
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	209,633	257,387
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	0	0
Acquisition		0
Transfers from MSR financing receivables to MSRs	0	0
Fair Value, Assets Measured on Recurring Basis, Gains (losses) included in net income
Included in other-than-temporary impairment on securities	0	0
Included in change in fair value of investments in excess mortgage servicing rights	(9,510)	(7,559)
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	0	0
Included in servicing revenue, net	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivable		0
Included in change in fair value of servicer advance investments	0	0
Included in change in fair value of residential mortgage loans	0	0
Included in gain (loss) on settlement of investments, net	66	1,479
Included in other income (loss), net	(10,817)	1,523
Gains (losses) included in other comprehensive income	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivables	0
Interest income	12,299	14,895
Purchases, sales and repayments
Purchases, net(G)	0	0
Proceeds from sales	(1,056)	(10,018)
Proceeds from repayments	(37,970)	(48,074)
Originations and other	0	0
Balance, ending	162,645	209,633
Recurring Basis \| Level 3 \| MSRs Agency \| Excess MSRs Investees
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	125,596	147,964
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	0	0
Acquisition		0
Transfers from MSR financing receivables to MSRs	0	0
Fair Value, Assets Measured on Recurring Basis, Gains (losses) included in net income
Included in other-than-temporary impairment on securities	0	0
Included in change in fair value of investments in excess mortgage servicing rights	0	0
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	(3,489)	6,800
Included in servicing revenue, net	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivable		0
Included in change in fair value of servicer advance investments	0	0
Included in change in fair value of residential mortgage loans	0	0
Included in gain (loss) on settlement of investments, net	0	0
Included in other income (loss), net	0	0
Gains (losses) included in other comprehensive income	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivables	0
Interest income	0	0
Purchases, sales and repayments
Purchases, net(G)	0	0
Proceeds from sales	0	0
Proceeds from repayments	(22,190)	(29,168)
Originations and other	0	0
Balance, ending	99,917	125,596
Recurring Basis \| Level 3 \| MSRs Non-Agency
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, beginning	170,114	190,473
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	0	0
Acquisition		0
Transfers from MSR financing receivables to MSRs	0	0
Fair Value, Assets Measured on Recurring Basis, Gains (losses) included in net income
Included in other-than-temporary impairment on securities	0	0
Included in change in fair value of investments in excess mortgage servicing rights	(6,722)	(2,946)
Included in change in fair value of investments in excess mortgage servicing rights, equity method investees	0	0
Included in servicing revenue, net	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivable		0
Included in change in fair value of servicer advance investments	0	0
Included in change in fair value of residential mortgage loans	0	0
Included in gain (loss) on settlement of investments, net	1	30
Included in other income (loss), net	(1,373)	819
Gains (losses) included in other comprehensive income	0	0
Included in change in fair value of investments in mortgage servicing rights financing receivables	0
Interest income	16,053	17,752
Purchases, sales and repayments
Purchases, net(G)	0	0
Proceeds from sales	(5)	(57)
Proceeds from repayments	(29,775)	(35,957)
Originations and other	0	0
Balance, ending	$ 148,293	$ 170,114

FAIR VALUE MEASUREMENT - Fair V

FAIR VALUE MEASUREMENT - Fair Value Liabilities Measured at Fair Value on a Recurring Basis using Level 3 Inputs (Details) - Level 3 - Recurring Basis - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, liability, beginning balance	$ 746,737	$ 197,194
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	0	0
Acquisitions	0	13,893
Gains (losses) included in net income
Included in servicing revenue, net	(14,164)	(8,406)
Included in other income	5,810	11,723
Interest income	0	0
Purchases, sales and payments
Purchases	1,520,382	378,569
Proceeds from sales	0	0
Proceeds from repayments	(562,588)	(56,574)
Other	(658)	879
Fair value, liability, ending balance	1,695,519	746,737
Ditech Acquisition
Transfers
Acquisitions		209,459
Excess Spread Financing
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, liability, beginning balance	31,777	39,304
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	0	0
Acquisitions	0	0
Gains (losses) included in net income
Included in servicing revenue, net	(14,164)	(8,406)
Included in other income	0	0
Interest income	0	0
Purchases, sales and payments
Purchases	0	0
Proceeds from sales	0	0
Proceeds from repayments	0	0
Other	807	879
Fair value, liability, ending balance	18,420	31,777
Excess Spread Financing \| Ditech Acquisition
Transfers
Acquisitions		0
Mortgage Backed Securities Issued
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, liability, beginning balance	659,738	117,048
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	0	0
Acquisitions	0	0
Gains (losses) included in net income
Included in servicing revenue, net	0	0
Included in other income	966	1,236
Interest income	0	0
Purchases, sales and payments
Purchases	1,520,382	378,569
Proceeds from sales	0	0
Proceeds from repayments	(516,769)	(46,574)
Other	(1,465)	0
Fair value, liability, ending balance	1,662,852	659,738
Mortgage Backed Securities Issued \| Ditech Acquisition
Transfers
Acquisitions		209,459
Contingent Consideration
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, liability, beginning balance	55,222	40,842
Transfers
Transfers from Level 3	0	0
Transfers to Level 3	0	0
Acquisitions	0	13,893
Gains (losses) included in net income
Included in servicing revenue, net	0	0
Included in other income	4,844	10,487
Interest income	0	0
Purchases, sales and payments
Purchases	0	0
Proceeds from sales	0	0
Proceeds from repayments	(45,819)	(10,000)
Other	0	0
Fair value, liability, ending balance	$ 14,247	55,222
Contingent Consideration \| Ditech Acquisition
Transfers
Acquisitions		$ 0

FAIR VALUE MEASUREMENT - Weight

FAIR VALUE MEASUREMENT - Weighted Average Inputs used in Valuing Excess MSRs Owned Directly and through Equity Method Investees (Details)	12 Months Ended
	Dec. 31, 2019security$ / Loan	Dec. 31, 2020$ / Loan
Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.123
Prepayment Rate \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.095
Prepayment Rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.076
Prepayment Rate \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.056
Prepayment Rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.241
Prepayment Rate \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.119
Prepayment Rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.129
Prepayment Rate \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.085
Prepayment Rate \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.129
Prepayment Rate \| Agency \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.125
Prepayment Rate \| Agency \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.154	0.121
Prepayment Rate \| Agency \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.079
Prepayment Rate \| Agency \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.079
Prepayment Rate \| Agency \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.233
Prepayment Rate \| Agency \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.233
Prepayment Rate \| Agency \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.131
Prepayment Rate \| Agency \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.131
Prepayment Rate \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.084
Prepayment Rate \| Non-Agency \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.116
Prepayment Rate \| Non-Agency \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.083	0.076
Prepayment Rate \| Non-Agency \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.076
Prepayment Rate \| Non-Agency \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.095
Prepayment Rate \| Non-Agency \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.164
Prepayment Rate \| Non-Agency \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.164
Prepayment Rate \| Non-Agency \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.077
Prepayment Rate \| Non-Agency \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.131
Prepayment Rate \| Ginnie Mae \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.162
Prepayment Rate \| Ginnie Mae \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.090
Prepayment Rate \| Ginnie Mae \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.241
Prepayment Rate \| Ginnie Mae \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.203
Prepayment Rate \| Directly Held \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.093
Prepayment Rate \| Directly Held \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.056
Prepayment Rate \| Directly Held \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.119
Prepayment Rate \| Directly Held \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.085
Prepayment Rate \| Directly Held \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.092
Prepayment Rate \| Directly Held \| Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.086
Prepayment Rate \| Directly Held \| Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.107
Prepayment Rate \| Directly Held \| Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.071
Prepayment Rate \| Directly Held \| Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.07
Prepayment Rate \| Directly Held \| Agency \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.07
Prepayment Rate \| Directly Held \| Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.109
Prepayment Rate \| Directly Held \| Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.119
Prepayment Rate \| Directly Held \| Agency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.119
Prepayment Rate \| Directly Held \| Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.078
Prepayment Rate \| Directly Held \| Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.096
Prepayment Rate \| Directly Held \| Agency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.084
Prepayment Rate \| Directly Held \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.094
Prepayment Rate \| Directly Held \| Non-Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.097
Prepayment Rate \| Directly Held \| Non-Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.075
Prepayment Rate \| Directly Held \| Non-Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.066
Prepayment Rate \| Directly Held \| Non-Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.056
Prepayment Rate \| Directly Held \| Non-Agency \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.056
Prepayment Rate \| Directly Held \| Non-Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.119
Prepayment Rate \| Directly Held \| Non-Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.074
Prepayment Rate \| Directly Held \| Non-Agency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.119
Prepayment Rate \| Directly Held \| Non-Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.09
Prepayment Rate \| Directly Held \| Non-Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.061
Prepayment Rate \| Directly Held \| Non-Agency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.085
Prepayment Rate \| Held through Equity Method Investees \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.075
Prepayment Rate \| Held through Equity Method Investees \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.107
Prepayment Rate \| Held through Equity Method Investees \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.090
Prepayment Rate \| Held through Equity Method Investees \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.098
Prepayment Rate \| Held through Equity Method Investees \| Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.093
Prepayment Rate \| Held through Equity Method Investees \| Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.103
Prepayment Rate \| Held through Equity Method Investees \| Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.071
Prepayment Rate \| Held through Equity Method Investees \| Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.086
Prepayment Rate \| Held through Equity Method Investees \| Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.102
Prepayment Rate \| Held through Equity Method Investees \| Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.105
Prepayment Rate \| Held through Equity Method Investees \| Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.08
Prepayment Rate \| Held through Equity Method Investees \| Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.093
Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.041
Delinquency \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.010
Delinquency \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.004
Delinquency \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Delinquency \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.130
Delinquency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.139
Delinquency \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.042
Delinquency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.036
Delinquency \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.009
Delinquency \| Agency \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.010
Delinquency \| Agency \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.004	0.007
Delinquency \| Agency \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.004
Delinquency \| Agency \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.004
Delinquency \| Agency \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.021
Delinquency \| Agency \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.021
Delinquency \| Agency \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.009
Delinquency \| Agency \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.009
Delinquency \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.142
Delinquency \| Non-Agency \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.012
Delinquency \| Non-Agency \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.144	0.130
Delinquency \| Non-Agency \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.009
Delinquency \| Non-Agency \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.009
Delinquency \| Non-Agency \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.130
Delinquency \| Non-Agency \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.094
Delinquency \| Non-Agency \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.129
Delinquency \| Non-Agency \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.049
Delinquency \| Ginnie Mae \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.044
Delinquency \| Ginnie Mae \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.023
Delinquency \| Ginnie Mae \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.056
Delinquency \| Ginnie Mae \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.047
Delinquency \| Directly Held \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.009
Delinquency \| Directly Held \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Delinquency \| Directly Held \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.139
Delinquency \| Directly Held \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.048
Delinquency \| Directly Held \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.009
Delinquency \| Directly Held \| Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.011
Delinquency \| Directly Held \| Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.005
Delinquency \| Directly Held \| Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Delinquency \| Directly Held \| Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Delinquency \| Directly Held \| Agency \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Delinquency \| Directly Held \| Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.035
Delinquency \| Directly Held \| Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.04
Delinquency \| Directly Held \| Agency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.04
Delinquency \| Directly Held \| Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.014
Delinquency \| Directly Held \| Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.009
Delinquency \| Directly Held \| Agency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.012
Delinquency \| Directly Held \| Non-Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.026
Delinquency \| Directly Held \| Non-Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.002
Delinquency \| Directly Held \| Non-Agency \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.002
Delinquency \| Directly Held \| Non-Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.139
Delinquency \| Directly Held \| Non-Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.005
Delinquency \| Directly Held \| Non-Agency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.139
Delinquency \| Directly Held \| Non-Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.102
Delinquency \| Directly Held \| Non-Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.004
Delinquency \| Directly Held \| Non-Agency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.102
Delinquency \| Held through Equity Method Investees \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.006
Delinquency \| Held through Equity Method Investees \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.022
Delinquency \| Held through Equity Method Investees \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.012
Delinquency \| Held through Equity Method Investees \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.011
Delinquency \| Held through Equity Method Investees \| Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.014
Delinquency \| Held through Equity Method Investees \| Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.008
Delinquency \| Held through Equity Method Investees \| Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.012
Delinquency \| Held through Equity Method Investees \| Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.006
Delinquency \| Held through Equity Method Investees \| Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.025
Delinquency \| Held through Equity Method Investees \| Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.017
Delinquency \| Held through Equity Method Investees \| Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.016
Delinquency \| Held through Equity Method Investees \| Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.012
Recapture Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.200
Recapture Rate \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.214
Recapture Rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.025
Recapture Rate \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Recapture Rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.355
Recapture Rate \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.350
Recapture Rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.20
Recapture Rate \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.122
Recapture Rate \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.222
Recapture Rate \| Agency \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.233
Recapture Rate \| Agency \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.158	0.159
Recapture Rate \| Agency \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.025
Recapture Rate \| Agency \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.025
Recapture Rate \| Agency \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.355
Recapture Rate \| Agency \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.355
Recapture Rate \| Agency \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.205
Recapture Rate \| Agency \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.206
Recapture Rate \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.095
Recapture Rate \| Non-Agency \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.221
Recapture Rate \| Non-Agency \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.093	0.079
Recapture Rate \| Non-Agency \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.043
Recapture Rate \| Non-Agency \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.043
Recapture Rate \| Non-Agency \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.316
Recapture Rate \| Non-Agency \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.316
Recapture Rate \| Non-Agency \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.081
Recapture Rate \| Non-Agency \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.186
Recapture Rate \| Ginnie Mae \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.281
Recapture Rate \| Ginnie Mae \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.162
Recapture Rate \| Ginnie Mae \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.350
Recapture Rate \| Ginnie Mae \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.249
Recapture Rate \| Directly Held \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.194
Recapture Rate \| Directly Held \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Recapture Rate \| Directly Held \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.350
Recapture Rate \| Directly Held \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.123
Recapture Rate \| Directly Held \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.223
Recapture Rate \| Directly Held \| Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.203
Recapture Rate \| Directly Held \| Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.278
Recapture Rate \| Directly Held \| Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.044
Recapture Rate \| Directly Held \| Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Recapture Rate \| Directly Held \| Agency \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Recapture Rate \| Directly Held \| Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.233
Recapture Rate \| Directly Held \| Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.350
Recapture Rate \| Directly Held \| Agency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.350
Recapture Rate \| Directly Held \| Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.103
Recapture Rate \| Directly Held \| Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.204
Recapture Rate \| Directly Held \| Agency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.138
Recapture Rate \| Directly Held \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.158
Recapture Rate \| Directly Held \| Non-Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.155
Recapture Rate \| Directly Held \| Non-Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.174
Recapture Rate \| Directly Held \| Non-Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Recapture Rate \| Directly Held \| Non-Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.121
Recapture Rate \| Directly Held \| Non-Agency \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Recapture Rate \| Directly Held \| Non-Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.131
Recapture Rate \| Directly Held \| Non-Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.214
Recapture Rate \| Directly Held \| Non-Agency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.214
Recapture Rate \| Directly Held \| Non-Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.10
Recapture Rate \| Directly Held \| Non-Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.142
Recapture Rate \| Directly Held \| Non-Agency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.107
Recapture Rate \| Held through Equity Method Investees \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.055
Recapture Rate \| Held through Equity Method Investees \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.298
Recapture Rate \| Held through Equity Method Investees \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.129
Recapture Rate \| Held through Equity Method Investees \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.251
Recapture Rate \| Held through Equity Method Investees \| Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.237
Recapture Rate \| Held through Equity Method Investees \| Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.267
Recapture Rate \| Held through Equity Method Investees \| Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.052
Recapture Rate \| Held through Equity Method Investees \| Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.117
Recapture Rate \| Held through Equity Method Investees \| Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.233
Recapture Rate \| Held through Equity Method Investees \| Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.289
Recapture Rate \| Held through Equity Method Investees \| Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.089
Recapture Rate \| Held through Equity Method Investees \| Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.15
Servicing Amount Percent
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	33
Servicing Amount Percent \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	20
Servicing Amount Percent \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		25
Servicing Amount Percent \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		5
Servicing Amount Percent \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		88
Servicing Amount Percent \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		31
Servicing Amount Percent \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		35
Servicing Amount Percent \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		20
Servicing Amount Percent \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	28
Servicing Amount Percent \| Agency \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	28
Servicing Amount Percent \| Agency \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	27	25
Servicing Amount Percent \| Agency \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		25
Servicing Amount Percent \| Agency \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		25
Servicing Amount Percent \| Agency \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		31
Servicing Amount Percent \| Agency \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		31
Servicing Amount Percent \| Agency \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		28
Servicing Amount Percent \| Agency \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		28
Servicing Amount Percent \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	47
Servicing Amount Percent \| Non-Agency \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	31
Servicing Amount Percent \| Non-Agency \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	47	48
Servicing Amount Percent \| Non-Agency \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		26
Servicing Amount Percent \| Non-Agency \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		26
Servicing Amount Percent \| Non-Agency \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		88
Servicing Amount Percent \| Non-Agency \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		88
Servicing Amount Percent \| Non-Agency \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		48
Servicing Amount Percent \| Non-Agency \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		55
Servicing Amount Percent \| Ginnie Mae \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	42
Servicing Amount Percent \| Ginnie Mae \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		32
Servicing Amount Percent \| Ginnie Mae \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		50
Servicing Amount Percent \| Ginnie Mae \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		45
Servicing Amount Percent \| Directly Held \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	19
Servicing Amount Percent \| Directly Held \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		5
Servicing Amount Percent \| Directly Held \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		31
Servicing Amount Percent \| Directly Held \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		19
Servicing Amount Percent \| Directly Held \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	22
Servicing Amount Percent \| Directly Held \| Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	21
Servicing Amount Percent \| Directly Held \| Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	23
Servicing Amount Percent \| Directly Held \| Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		15
Servicing Amount Percent \| Directly Held \| Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		21
Servicing Amount Percent \| Directly Held \| Agency \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		15
Servicing Amount Percent \| Directly Held \| Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		31
Servicing Amount Percent \| Directly Held \| Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		29
Servicing Amount Percent \| Directly Held \| Agency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		31
Servicing Amount Percent \| Directly Held \| Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		21
Servicing Amount Percent \| Directly Held \| Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		24
Servicing Amount Percent \| Directly Held \| Agency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		22
Servicing Amount Percent \| Directly Held \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	16
Servicing Amount Percent \| Directly Held \| Non-Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	15
Servicing Amount Percent \| Directly Held \| Non-Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	24
Servicing Amount Percent \| Directly Held \| Non-Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		5
Servicing Amount Percent \| Directly Held \| Non-Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		23
Servicing Amount Percent \| Directly Held \| Non-Agency \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		5
Servicing Amount Percent \| Directly Held \| Non-Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		25
Servicing Amount Percent \| Directly Held \| Non-Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		27
Servicing Amount Percent \| Directly Held \| Non-Agency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		27
Servicing Amount Percent \| Directly Held \| Non-Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		15
Servicing Amount Percent \| Directly Held \| Non-Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		25
Servicing Amount Percent \| Directly Held \| Non-Agency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		17
Servicing Amount Percent \| Held through Equity Method Investees \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	21
Servicing Amount Percent \| Held through Equity Method Investees \| Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	19
Servicing Amount Percent \| Held through Equity Method Investees \| Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	24
Servicing Amount Percent \| Held through Equity Method Investees \| Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		15
Servicing Amount Percent \| Held through Equity Method Investees \| Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		22
Servicing Amount Percent \| Held through Equity Method Investees \| Agency \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		15
Servicing Amount Percent \| Held through Equity Method Investees \| Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		25
Servicing Amount Percent \| Held through Equity Method Investees \| Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		28
Servicing Amount Percent \| Held through Equity Method Investees \| Agency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		28
Servicing Amount Percent \| Held through Equity Method Investees \| Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		19
Servicing Amount Percent \| Held through Equity Method Investees \| Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		25
Servicing Amount Percent \| Held through Equity Method Investees \| Agency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		22
Collateral Weighted Average Maturity Years
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	23 years
Collateral Weighted Average Maturity Years \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	21 years
Collateral Weighted Average Maturity Years \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Collateral Weighted Average Maturity Years \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		13
Collateral Weighted Average Maturity Years \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		30
Collateral Weighted Average Maturity Years \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		29
Collateral Weighted Average Maturity Years \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		23
Collateral Weighted Average Maturity Years \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		21
Collateral Weighted Average Maturity Years \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	22 years
Collateral Weighted Average Maturity Years \| Agency \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	22 years
Collateral Weighted Average Maturity Years \| Agency \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	25 years
Collateral Weighted Average Maturity Years \| Agency \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Collateral Weighted Average Maturity Years \| Agency \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Collateral Weighted Average Maturity Years \| Agency \| Minimum \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Collateral Weighted Average Maturity Years \| Agency \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		30
Collateral Weighted Average Maturity Years \| Agency \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		30
Collateral Weighted Average Maturity Years \| Agency \| Maximum \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		30
Collateral Weighted Average Maturity Years \| Agency \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		22
Collateral Weighted Average Maturity Years \| Agency \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		22
Collateral Weighted Average Maturity Years \| Agency \| Weighted Average \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		22
Collateral Weighted Average Maturity Years \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	25 years
Collateral Weighted Average Maturity Years \| Non-Agency \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	16 years
Collateral Weighted Average Maturity Years \| Non-Agency \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	25 years
Collateral Weighted Average Maturity Years \| Non-Agency \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Collateral Weighted Average Maturity Years \| Non-Agency \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Collateral Weighted Average Maturity Years \| Non-Agency \| Minimum \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Collateral Weighted Average Maturity Years \| Non-Agency \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		30
Collateral Weighted Average Maturity Years \| Non-Agency \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		30
Collateral Weighted Average Maturity Years \| Non-Agency \| Maximum \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		30
Collateral Weighted Average Maturity Years \| Non-Agency \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		25
Collateral Weighted Average Maturity Years \| Non-Agency \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		16
Collateral Weighted Average Maturity Years \| Non-Agency \| Weighted Average \| Mortgage Servicing Rights Financing Receivable
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		25
Collateral Weighted Average Maturity Years \| Ginnie Mae \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	27 years
Collateral Weighted Average Maturity Years \| Ginnie Mae \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0
Collateral Weighted Average Maturity Years \| Ginnie Mae \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		30
Collateral Weighted Average Maturity Years \| Ginnie Mae \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		27
Collateral Weighted Average Maturity Years \| Directly Held \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	22 years
Collateral Weighted Average Maturity Years \| Directly Held \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		13
Collateral Weighted Average Maturity Years \| Directly Held \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		29
Collateral Weighted Average Maturity Years \| Directly Held \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		21
Collateral Weighted Average Maturity Years \| Directly Held \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	21 years
Collateral Weighted Average Maturity Years \| Directly Held \| Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	20 years
Collateral Weighted Average Maturity Years \| Directly Held \| Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	23 years
Collateral Weighted Average Maturity Years \| Directly Held \| Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		13
Collateral Weighted Average Maturity Years \| Directly Held \| Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		19
Collateral Weighted Average Maturity Years \| Directly Held \| Agency \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		13
Collateral Weighted Average Maturity Years \| Directly Held \| Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		21
Collateral Weighted Average Maturity Years \| Directly Held \| Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		24
Collateral Weighted Average Maturity Years \| Directly Held \| Agency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		24
Collateral Weighted Average Maturity Years \| Directly Held \| Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		19
Collateral Weighted Average Maturity Years \| Directly Held \| Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		22
Collateral Weighted Average Maturity Years \| Directly Held \| Agency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		20
Collateral Weighted Average Maturity Years \| Directly Held \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	24 years
Collateral Weighted Average Maturity Years \| Directly Held \| Non-Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	24 years
Collateral Weighted Average Maturity Years \| Directly Held \| Non-Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	23 years
Collateral Weighted Average Maturity Years \| Directly Held \| Non-Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		18
Collateral Weighted Average Maturity Years \| Directly Held \| Non-Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		21
Collateral Weighted Average Maturity Years \| Directly Held \| Non-Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		29
Collateral Weighted Average Maturity Years \| Directly Held \| Non-Agency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		18
Collateral Weighted Average Maturity Years \| Directly Held \| Non-Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		23
Collateral Weighted Average Maturity Years \| Directly Held \| Non-Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		23
Collateral Weighted Average Maturity Years \| Directly Held \| Non-Agency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		23
Collateral Weighted Average Maturity Years \| Held through Equity Method Investees \| Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	20 years
Collateral Weighted Average Maturity Years \| Held through Equity Method Investees \| Agency \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	19 years
Collateral Weighted Average Maturity Years \| Held through Equity Method Investees \| Agency \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	22 years
Collateral Weighted Average Maturity Years \| Held through Equity Method Investees \| Agency \| Minimum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		18
Collateral Weighted Average Maturity Years \| Held through Equity Method Investees \| Agency \| Minimum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		20
Collateral Weighted Average Maturity Years \| Held through Equity Method Investees \| Agency \| Minimum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		18
Collateral Weighted Average Maturity Years \| Held through Equity Method Investees \| Agency \| Maximum \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		19
Collateral Weighted Average Maturity Years \| Held through Equity Method Investees \| Agency \| Maximum \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		23
Collateral Weighted Average Maturity Years \| Held through Equity Method Investees \| Agency \| Maximum \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		23
Collateral Weighted Average Maturity Years \| Held through Equity Method Investees \| Agency \| Weighted Average \| Original Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		18
Collateral Weighted Average Maturity Years \| Held through Equity Method Investees \| Agency \| Weighted Average \| Recaptured Pools
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		22
Collateral Weighted Average Maturity Years \| Held through Equity Method Investees \| Agency \| Weighted Average \| Excess MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		20
Sub-Servicing Cost \| Agency \| Minimum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input \| $ / Loan		6.20
Sub-Servicing Cost \| Agency \| Maximum \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input \| $ / Loan		7.50
Sub-Servicing Cost \| Agency \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input \| $ / Loan	7.18	7
Sub-Servicing Cost \| Non-Agency \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input \| $ / Loan	11.28	10.90
Sub-Servicing Cost \| Ginnie Mae \| Weighted Average \| MSRs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input \| $ / Loan	9.20	8.90

FAIR VALUE MEASUREMENT - Narrat

FAIR VALUE MEASUREMENT - Narrative (Details) $ in Millions	Apr. 10, 2020USD ($)	Sep. 05, 2019earnout_payment	Sep. 03, 2019USD ($)	Jul. 03, 2018USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Schedule of Equity Method Investments [Line Items]
Percentage of instruments with ranges of assumptions used available					99.00%
Minimum
Schedule of Equity Method Investments [Line Items]
Recapture rate, term (in months)					3 months
Broker price discount					10.00%
Maximum
Schedule of Equity Method Investments [Line Items]
Recapture rate, term (in months)					6 months
Broker price discount					25.00%
Real Estate Owned
Schedule of Equity Method Investments [Line Items]
Assets, fair value adjustment					$ (2.7)	$ 0.6
Residential Mortgage Loans
Schedule of Equity Method Investments [Line Items]
Assets, fair value adjustment					$ (113)
Residential Mortgage Loans, Held-For-Sale, At Lower Cost Or Fair Value
Schedule of Equity Method Investments [Line Items]
Assets, fair value adjustment						$ 20
Maturity Greater than 30 Days
Schedule of Equity Method Investments [Line Items]
Days delinquent (in days)					30 days
Mortgage Servicing Rights Financing Receivable \| Minimum
Schedule of Equity Method Investments [Line Items]
Discount rate					7.40%
Mortgage Servicing Rights Financing Receivable \| Maximum
Schedule of Equity Method Investments [Line Items]
Discount rate					9.50%
Mortgage Servicing Rights Financing Receivable \| Weighted Average
Schedule of Equity Method Investments [Line Items]
Discount rate					9.40%	8.90%
MSRs \| Minimum
Schedule of Equity Method Investments [Line Items]
Discount rate					7.30%
MSRs \| Maximum
Schedule of Equity Method Investments [Line Items]
Discount rate					13.00%
MSRs \| Weighted Average
Schedule of Equity Method Investments [Line Items]
Discount rate					7.70%	7.80%
MSRs \| Excess MSRs Investees
Schedule of Equity Method Investments [Line Items]
Discount rate					7.80%	7.80%
MSRs \| Excess MSRs Investees \| Minimum
Schedule of Equity Method Investments [Line Items]
Discount rate					7.50%
MSRs \| Excess MSRs Investees \| Maximum
Schedule of Equity Method Investments [Line Items]
Discount rate					8.00%
MSRs \| Excess MSRs Investees \| Weighted Average
Schedule of Equity Method Investments [Line Items]
Discount rate					7.80%	7.80%
Nonrecurring
Schedule of Equity Method Investments [Line Items]
Assets measured at fair value on a nonrecurring basis					$ 532.1	$ 1,242.2
Nonrecurring \| Residential Mortgage Loans Held-for-sale Carried At Lower Cost Or Market
Schedule of Equity Method Investments [Line Items]
Assets measured at fair value on a nonrecurring basis					504	1,189.5
Nonrecurring \| Real Estate Owned
Schedule of Equity Method Investments [Line Items]
Assets measured at fair value on a nonrecurring basis					$ 28.1	$ 52.7
LIBOR \| Mortgage Servicing Rights Financing Receivable
Schedule of Equity Method Investments [Line Items]
Variable interest rate spread					2.10%
Shellpoint Acquisition
Schedule of Equity Method Investments [Line Items]
Contingent consideration, high				$ 60
Cash consideration				212.3
Guardian Acquisition
Schedule of Equity Method Investments [Line Items]
Earnout payment payments \| earnout_payment		4
Contingent consideration, high			$ 17.5
Cash consideration			7.6
Contingent consideration, discount rate		9.00%
NRM Acquisition LLC \| Shellpoint Acquisition
Schedule of Equity Method Investments [Line Items]
Contingent consideration, high				60
Cash consideration				$ 212.3
NRZ Guardian Purchaser LLC \| Guardian Acquisition
Schedule of Equity Method Investments [Line Items]
Contingent consideration, high			17.5
Cash consideration	$ 1.9		$ 7.6

FAIR VALUE MEASUREMENT - Inputs

FAIR VALUE MEASUREMENT - Inputs used in Valuing the Servicer Advances (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Servicer Advances
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Servicer Advances to UPB of Underlying Residential Mortgage Loans		1.40%
Cost to service amount	0.10%	0.101%
Servicer Advances \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Servicer Advances to UPB of Underlying Residential Mortgage Loans	1.10%
Mortgage Servicing Amount	17.1
Servicer Advances \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Servicer Advances to UPB of Underlying Residential Mortgage Loans	1.70%
Mortgage Servicing Amount	19.8	19.6
Servicer Advances \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Servicer Advances to UPB of Underlying Residential Mortgage Loans	1.70%
Mortgage Servicing Amount	19.7
Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.123
Prepayment Rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.076
Prepayment Rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.241
Prepayment Rate \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.129
Prepayment Rate \| Servicer Advances
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.106
Prepayment Rate \| Servicer Advances \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.093
Prepayment Rate \| Servicer Advances \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.093
Prepayment Rate \| Servicer Advances \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.093
Delinquency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.041
Delinquency \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.004
Delinquency \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.130
Delinquency \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.042
Delinquency \| Servicer Advances
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.157
Delinquency \| Servicer Advances \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.069
Delinquency \| Servicer Advances \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.091
Delinquency \| Servicer Advances \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.090
Discount Rate \| Servicer Advances
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input		0.053
Discount Rate \| Servicer Advances \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.052
Discount Rate \| Servicer Advances \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.057
Discount Rate \| Servicer Advances \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0.052
Collateral Weighted Average Maturity Years
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)		23 years
Collateral Weighted Average Maturity Years \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	0
Collateral Weighted Average Maturity Years \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	30
Collateral Weighted Average Maturity Years \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Servicing asset, measurement input	23
Collateral Weighted Average Maturity Years \| Servicer Advances
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)		22 years 10 months 24 days
Collateral Weighted Average Maturity Years \| Servicer Advances \| Weighted Average
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Collateral Weighted Average Maturity (in years)	22 years 3 months 18 days

FAIR VALUE MEASUREMENT - Securi

FAIR VALUE MEASUREMENT - Securities Valuation Methodology and Results (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)source	Dec. 31, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Face Amount	$ 31,869,682	$ 36,159,591
Amortized Cost Basis	14,105,251	18,782,175
Real estate and other securities	$ 14,244,558	19,477,728
Number of broker quotation sources \| source	2
Percentage of instruments with ranges of assumptions used available	99.00%
Agency RMBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Face Amount	$ 12,491,152	11,301,603
Amortized Cost Basis	12,951,608	11,474,338
Real estate and other securities	13,063,634	11,519,943
Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Outstanding Face Amount	19,378,530	24,857,988
Amortized Cost Basis	1,153,643	7,307,837
Real estate and other securities	1,180,924	7,957,785
Fair Value	1,168,765
Multiple Quotes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	14,234,843	19,473,516
Single Quote
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	9,715	4,212
Single Quote \| Seller
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	0	700
Level 2 \| Agency RMBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	13,063,634	11,519,943
Level 2 \| Multiple Quotes \| Agency RMBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	13,063,634	11,519,943
Level 2 \| Single Quote \| Agency RMBS
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	0	0
Level 3 \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	1,180,924	7,957,785
Level 3 \| Multiple Quotes \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	1,171,209	7,953,573
Level 3 \| Single Quote \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate and other securities	$ 9,715	$ 4,212
Discount Rate \| Minimum \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non-Agency RMBS, Measurement Input	0.035
Discount Rate \| Maximum \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non-Agency RMBS, Measurement Input	0.150
Discount Rate \| Weighted Average \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non-Agency RMBS, Measurement Input	0.043
Prepayment Rate \| Minimum \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non-Agency RMBS, Measurement Input	0.070
Prepayment Rate \| Maximum \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non-Agency RMBS, Measurement Input	0.250
Prepayment Rate \| Weighted Average \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non-Agency RMBS, Measurement Input	0.143
CDR \| Minimum \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non-Agency RMBS, Measurement Input	0.005
CDR \| Maximum \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non-Agency RMBS, Measurement Input	0.120
CDR \| Weighted Average \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non-Agency RMBS, Measurement Input	0.014
Loss Severity \| Minimum \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non-Agency RMBS, Measurement Input	0.200
Loss Severity \| Maximum \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non-Agency RMBS, Measurement Input	0.880
Loss Severity \| Weighted Average \| Non-Agency
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Non-Agency RMBS, Measurement Input	0.300

FAIR VALUE MEASUREMENT - Inpu_2

FAIR VALUE MEASUREMENT - Inputs Used in Valuing Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Nonrecurring \| Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, fair value	$ 509,887	$ 1,189,507
Discount Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.073	0.047
Prepayment Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.037	0.082
CDR \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.026	0.027
Loss Severity \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.337	0.284
Collateral Weighted Average Maturity Years \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	3 years 7 months 6 days	3 years 8 months 12 days
Performing Loans \| Nonrecurring \| Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, fair value	$ 129,345	$ 707,106
Performing Loans \| Discount Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input		0.042
Performing Loans \| Prepayment Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input		0.117
Performing Loans \| CDR \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input		0.026
Performing Loans \| Loss Severity \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input		0.273
Performing Loans \| Collateral Weighted Average Maturity Years \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term		4 years 1 month 6 days
Performing Loans \| Minimum \| Discount Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.048
Performing Loans \| Minimum \| Prepayment Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.051
Performing Loans \| Minimum \| CDR \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.002
Performing Loans \| Minimum \| Loss Severity \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.287
Performing Loans \| Minimum \| Collateral Weighted Average Maturity Years \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	3 years 1 month 6 days
Performing Loans \| Maximum \| Discount Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.085
Performing Loans \| Maximum \| Prepayment Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.099
Performing Loans \| Maximum \| CDR \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.078
Performing Loans \| Maximum \| Loss Severity \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	1
Performing Loans \| Maximum \| Collateral Weighted Average Maturity Years \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	9 years 1 month 6 days
Performing Loans \| Weighted Average \| Discount Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.067
Performing Loans \| Weighted Average \| Prepayment Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.088
Performing Loans \| Weighted Average \| CDR \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.020
Performing Loans \| Weighted Average \| Loss Severity \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.462
Performing Loans \| Weighted Average \| Collateral Weighted Average Maturity Years \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	4 years 6 months
Non-Performing Loans \| Nonrecurring \| Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, fair value	$ 380,542	$ 482,401
Non-Performing Loans \| Discount Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input		0.055
Non-Performing Loans \| Prepayment Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input		0.030
Non-Performing Loans \| CDR \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input		0.029
Non-Performing Loans \| Loss Severity \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input		0.300
Non-Performing Loans \| Collateral Weighted Average Maturity Years \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term		3 years 1 month 6 days
Non-Performing Loans \| Minimum \| Discount Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.075
Non-Performing Loans \| Minimum \| Prepayment Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.020
Non-Performing Loans \| Minimum \| CDR \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.029
Non-Performing Loans \| Minimum \| Loss Severity \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.085
Non-Performing Loans \| Minimum \| Collateral Weighted Average Maturity Years \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	2 years 10 months 24 days
Non-Performing Loans \| Maximum \| Discount Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.090
Non-Performing Loans \| Maximum \| Prepayment Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.020
Non-Performing Loans \| Maximum \| CDR \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.029
Non-Performing Loans \| Maximum \| Loss Severity \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.300
Non-Performing Loans \| Maximum \| Collateral Weighted Average Maturity Years \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	3 years 9 months 18 days
Non-Performing Loans \| Weighted Average \| Discount Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.075
Non-Performing Loans \| Weighted Average \| Prepayment Rate \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.020
Non-Performing Loans \| Weighted Average \| CDR \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.029
Non-Performing Loans \| Weighted Average \| Loss Severity \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, measurement input	0.295
Non-Performing Loans \| Weighted Average \| Collateral Weighted Average Maturity Years \| Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financing receivable, term	3 years 3 months 18 days
Residential Mortgage Loans Held-for-Sale, at Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, fair value	$ 1,646,205
Residential Mortgage Loans Held-for-Investment, at Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, fair value	$ 674,179
Residential Mortgage Loans Held-for-Investment, at Fair Value \| Minimum \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, measurement input	0.065
Residential Mortgage Loans Held-for-Investment, at Fair Value \| Minimum \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, measurement input	0.023
Residential Mortgage Loans Held-for-Investment, at Fair Value \| Minimum \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, measurement input	0.020
Residential Mortgage Loans Held-for-Investment, at Fair Value \| Minimum \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, measurement input	0.300
Residential Mortgage Loans Held-for-Investment, at Fair Value \| Maximum \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, measurement input	0.090
Residential Mortgage Loans Held-for-Investment, at Fair Value \| Maximum \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, measurement input	0.029
Residential Mortgage Loans Held-for-Investment, at Fair Value \| Maximum \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, measurement input	0.066
Residential Mortgage Loans Held-for-Investment, at Fair Value \| Maximum \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, measurement input	0.658
Residential Mortgage Loans Held-for-Investment, at Fair Value \| Weighted Average \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, measurement input	0.068
Residential Mortgage Loans Held-for-Investment, at Fair Value \| Weighted Average \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, measurement input	0.024
Residential Mortgage Loans Held-for-Investment, at Fair Value \| Weighted Average \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, measurement input	0.062
Residential Mortgage Loans Held-for-Investment, at Fair Value \| Weighted Average \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans, held-for-investment, measurement input	0.625
Consumer Loans Held-for-Investment, at Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, at fair value	$ 685,575
Consumer Loans Held-for-Investment, at Fair Value \| Minimum \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, measurement input	0.075
Consumer Loans Held-for-Investment, at Fair Value \| Minimum \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, measurement input	0.192
Consumer Loans Held-for-Investment, at Fair Value \| Minimum \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, measurement input	0.052
Consumer Loans Held-for-Investment, at Fair Value \| Minimum \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, measurement input	0.778
Consumer Loans Held-for-Investment, at Fair Value \| Maximum \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, measurement input	0.097
Consumer Loans Held-for-Investment, at Fair Value \| Maximum \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, measurement input	0.351
Consumer Loans Held-for-Investment, at Fair Value \| Maximum \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, measurement input	0.207
Consumer Loans Held-for-Investment, at Fair Value \| Maximum \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, measurement input	0.902
Consumer Loans Held-for-Investment, at Fair Value \| Weighted Average \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, measurement input	0.075
Consumer Loans Held-for-Investment, at Fair Value \| Weighted Average \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, measurement input	0.193
Consumer Loans Held-for-Investment, at Fair Value \| Weighted Average \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, measurement input	0.052
Consumer Loans Held-for-Investment, at Fair Value \| Weighted Average \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Consumer loans, measurement input	0.779
IRLCs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, fair value	$ 289,074
IRLCs \| Minimum \| Loan Funding Probability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	0
IRLCs \| Minimum \| Initial Servicing Rights
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	0.70
IRLCs \| Maximum \| Loan Funding Probability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	1
IRLCs \| Maximum \| Initial Servicing Rights
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	270.58
IRLCs \| Weighted Average \| Loan Funding Probability
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	0.805
IRLCs \| Weighted Average \| Initial Servicing Rights
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Derivative, measurement input	106.09
Mortgage Backed Securities Issued
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, fair value	$ 1,662,852
Mortgage Backed Securities Issued \| Minimum \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, measurement input	1.8
Mortgage Backed Securities Issued \| Minimum \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, measurement input	3.1
Mortgage Backed Securities Issued \| Minimum \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, measurement input	0.5
Mortgage Backed Securities Issued \| Minimum \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, measurement input	0.200
Mortgage Backed Securities Issued \| Maximum \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, measurement input	4.5
Mortgage Backed Securities Issued \| Maximum \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, measurement input	30
Mortgage Backed Securities Issued \| Maximum \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, measurement input	10.5
Mortgage Backed Securities Issued \| Maximum \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, measurement input	0.900
Mortgage Backed Securities Issued \| Weighted Average \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, measurement input	3.1
Mortgage Backed Securities Issued \| Weighted Average \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, measurement input	10.2
Mortgage Backed Securities Issued \| Weighted Average \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, measurement input	7.4
Mortgage Backed Securities Issued \| Weighted Average \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Mortgage-backed securities, measurement input	0.552
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, fair value	$ 1,633,628
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Minimum \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.033
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Minimum \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.002
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Minimum \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.020
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Minimum \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.030
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Maximum \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.085
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Maximum \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.055
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Maximum \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.250
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Maximum \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.500
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Weighted Average \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.046
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Weighted Average \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.026
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Weighted Average \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.050
Acquired Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Weighted Average \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.271
Originated Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, fair value	$ 12,577
Originated Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.048
Originated Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Prepayment Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.055
Originated Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| CDR
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.045
Originated Loans \| Residential Mortgage Loans Held-for-Sale, at Fair Value \| Loss Severity
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loans held-for-sale, measurement input	0.500

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
VIE, consolidated
Variable Interest Entity [Line Items]
Ownership percentage	73.20%
Capital distributed to third-party co-investors	$ 328.4
Capital distributed to New Residential	$ 306.9
Consumer Loan SPVs
Variable Interest Entity [Line Items]
Owner interest	53.50%

VARIABLE INTEREST ENTITIES - Va

VARIABLE INTEREST ENTITIES - Variable Interest Entities, Characteristics (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Number of days delinquent (in days)	30 days
SAFT 2013-1 Securitization Entity \| VIE, consolidated
Variable Interest Entity [Line Items]
UPB of Underlying Mortgages		$ 14,211,351	$ 19,590,978
Weighted average delinquency		10.06%	1.25%
Net credit losses		$ 76,725	$ 9,354
Face amount of debt held by third parties		12,671,168	17,946,939
Carrying value of bonds retained by New Residential		1,361,624	1,656,712
Cash flows received by New Residential on these bonds		$ 315,939	$ 270,739
Number of days delinquent (in days)		60 days

VARIABLE INTEREST ENTITIES - _2

VARIABLE INTEREST ENTITIES - Variable Interest Entities, Assets and Liabilities (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Assets
Servicer advance investments, at fair value	[1]	$ 538,056	$ 581,777
Residential mortgage loans, held-for-investment, at fair value	[1]	1,359,754	1,753,251
Residential mortgage loans, held-for-investment, at fair value		5,215,703	6,042,664
Cash and cash equivalents	[1]	944,854	528,737
Restricted cash		135,619	162,197
Other assets	[1]	1,358,422	1,395,800
Total assets		33,252,114	44,863,454
Liabilities
Accrued expenses and other liabilities	[1]	537,302	600,790
Total liabilities		27,822,430	37,627,194
VIE, consolidated
Assets
Servicer advance investments, at fair value		522,901	565,271
Residential mortgage loans, held-for-investment, at fair value		358,629	913,030
Residential mortgage loans, held-for-investment, at fair value		346,250
Residential mortgage loans, held-for-sale, at fair value		614,868
Consumer loans, held-for-investment		682,932	818,943
Cash and cash equivalents		92,043	53,867
Restricted cash		10,898	14,423
Other assets		49,864	22,913
Total assets		2,678,385	2,388,447
Liabilities
Secured notes and bonds payable		2,077,428	1,913,696
Accrued expenses and other liabilities		12,972	20,038
Total liabilities		2,090,400	1,933,734
The Buyer \| VIE, consolidated
Assets
Servicer advance investments, at fair value		522,901	565,271
Residential mortgage loans, held-for-investment, at fair value		0	0
Residential mortgage loans, held-for-investment, at fair value		0
Residential mortgage loans, held-for-sale, at fair value		0
Consumer loans, held-for-investment		0	0
Cash and cash equivalents		53,012	30,065
Restricted cash		2,808	5,350
Other assets		891	2,414
Total assets		579,612	603,100
Liabilities
Secured notes and bonds payable		414,576	433,300
Accrued expenses and other liabilities		1,092	1,593
Total liabilities		415,668	434,893
Shelter Joint Ventures \| VIE, consolidated
Assets
Servicer advance investments, at fair value		0	0
Residential mortgage loans, held-for-investment, at fair value		0	0
Residential mortgage loans, held-for-investment, at fair value		0
Residential mortgage loans, held-for-sale, at fair value		0
Consumer loans, held-for-investment		0	0
Cash and cash equivalents		39,031	23,802
Restricted cash		0	0
Other assets		9,151	3,556
Total assets		48,182	27,358
Liabilities
Secured notes and bonds payable		0	0
Accrued expenses and other liabilities		9,455	4,187
Total liabilities		9,455	4,187
Residential Mortgage Loans \| VIE, consolidated
Assets
Servicer advance investments, at fair value		0	0
Residential mortgage loans, held-for-investment, at fair value		358,629	913,030
Residential mortgage loans, held-for-investment, at fair value		346,250
Residential mortgage loans, held-for-sale, at fair value		614,868
Consumer loans, held-for-investment		0	0
Cash and cash equivalents		0	0
Restricted cash		0	0
Other assets		30,621	4,534
Total assets		1,350,368	917,564
Liabilities
Secured notes and bonds payable		1,034,093	659,738
Accrued expenses and other liabilities		1,661	10,132
Total liabilities		1,035,754	669,870
Consumer Loan SPVs \| VIE, consolidated
Assets
Servicer advance investments, at fair value		0	0
Residential mortgage loans, held-for-investment, at fair value		0	0
Residential mortgage loans, held-for-investment, at fair value		0
Residential mortgage loans, held-for-sale, at fair value		0
Consumer loans, held-for-investment		682,932	818,943
Cash and cash equivalents		0	0
Restricted cash		8,090	9,073
Other assets		9,201	12,409
Total assets		700,223	840,425
Liabilities
Secured notes and bonds payable		628,759	820,658
Accrued expenses and other liabilities		764	4,126
Total liabilities		$ 629,523	$ 824,784

[1]	See Note 14 regarding consolidated variable interest entities.

VARIABLE INTEREST ENTITIES - Ot

VARIABLE INTEREST ENTITIES - Others' Interest in Equity of Consumer Loan Companies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Noncontrolling Interest [Line Items]
Total consolidated equity	$ 5,429,684	$ 7,236,260	$ 6,088,295	$ 4,796,162
Others’ interest in equity of consolidated subsidiary	108,668	78,550
Net income (loss)	(1,357,684)	605,933	1,004,531
Noncontrolling interests in income of consolidated subsidiaries	$ 52,674	42,637	40,564
VIE, consolidated
Noncontrolling Interest [Line Items]
Ownership percentage	73.20%
VIE, consolidated \| Advance Purchaser LLC
Noncontrolling Interest [Line Items]
Total consolidated equity	$ 163,944	168,207
Others’ interest in equity of consolidated subsidiary	43,882	45,025
Net income (loss)	3,326	15,892	7,209
Noncontrolling interests in income of consolidated subsidiaries	891	4,255	1,978
VIE, consolidated \| Shelter Joint Ventures
Noncontrolling Interest [Line Items]
Total consolidated equity	38,727	23,171
Others’ interest in equity of consolidated subsidiary	19,402	11,354
Net income (loss)	31,188	12,717	3,135
Noncontrolling interests in income of consolidated subsidiaries	15,625	6,231	1,599
VIE, consolidated \| Consumer Loan SPVs
Noncontrolling Interest [Line Items]
Total consolidated equity	96,418	46,510
Others’ interest in equity of consolidated subsidiary	45,384	22,171
Net income (loss)	77,760	69,143	79,539
Noncontrolling interests in income of consolidated subsidiaries	$ 36,158	$ 32,151	$ 36,987
VIE, consolidated \| Advance Purchaser LLC
Noncontrolling Interest [Line Items]
Others’ ownership interest	26.80%	26.80%
Ownership percentage	73.20%	73.20%	72.60%
VIE, consolidated \| Shelter Joint Ventures
Noncontrolling Interest [Line Items]
Others’ ownership interest	50.10%	49.00%
VIE, consolidated \| Consumer Loan SPVs
Noncontrolling Interest [Line Items]
Others’ ownership interest	46.50%	46.50%
Weighted Average \| VIE, consolidated \| Advance Purchaser LLC
Noncontrolling Interest [Line Items]
Others’ ownership interest	26.80%	26.80%	27.40%
Weighted Average \| VIE, consolidated \| Shelter Joint Ventures
Noncontrolling Interest [Line Items]
Others’ ownership interest	50.10%	49.00%	51.00%
Weighted Average \| VIE, consolidated \| Consumer Loan SPVs
Noncontrolling Interest [Line Items]
Others’ ownership interest	46.50%	46.50%	46.50%

EQUITY AND EARNINGS PER SHARE -

EQUITY AND EARNINGS PER SHARE - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 01, 2021	Dec. 16, 2020	Sep. 23, 2020	May 19, 2020	Feb. 14, 2020	Jan. 01, 2020	Aug. 15, 2019	Aug. 01, 2019	Jul. 02, 2019	Jan. 01, 2019	Jul. 30, 2018	Jan. 01, 2014	Feb. 29, 2020	Aug. 31, 2019	Jul. 31, 2019	Feb. 28, 2019	Nov. 30, 2018	Jan. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 08, 2021	Nov. 02, 2020	Aug. 20, 2019
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Common stock, shares authorized (in shares)																			2,000,000,000	2,000,000,000
Common stock, par value (in dollars per share)				$ 0.01															$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)																			100,000,000
Preferred stock, par values (in dollars per share)																			$ 0.01
Number of Common shares (in shares)																			33,610,000	17,510,000
Preferred stock, liquidation preference per share																				$ 25
Fair value of options granted to Manager																	$ 3,800	$ 3,800
Risk free interest rate																	3.25%	2.58%
Expected dividend rate																	8.61%	9.86%
Expected volatility rate																	17.50%	23.16%
Expected term (in years)																	10 years	10 years
Issuance stock (in shares)																46,000,000	28,800,000	28,800,000
Share price (in dollars per share)																$ 16.50	$ 17.32	$ 17.10
Proceeds from issuance of common stock																$ 751,700	$ 489,200	$ 482,300	$ 1,735	$ 752,217	$ 983,149
Options granted (in shares)																			1,619,739	6,352,000
Options granted to Manager (in shares)																	2,900,000
Preferred stock, dividends (in dollars per share)																			$ 5.26	$ 2.05	$ 0
Common stock, shares outstanding (in shares)																			414,744,518	415,520,780
Fair value				$ 53,500
Reserved shares of common stock for issuance (in shares)																			15,000,000
Stock option plan term (in years)																			10 years
Yearly increase in number of shares available for options																			10.00%
Number of additional shares authorized (in shares)						4,600,000				5,799,166		0
Threshold percentage for options that may be issued to the Manager																			10.00%
Stock options outstanding (in shares)																			14,428,655
Share price (in dollars per share)																			$ 9.94
Subsequent Event
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Stock repurchase program, authorized amount																						$ 200,000
Number of additional shares authorized (in shares)	9,739
Fortress-managed funds
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Common stock, shares outstanding (in shares)																			2,400,000
Stock options outstanding (in shares)																			12,000,000
Common Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Issuance of common stock																			$ 1,663	$ 751,393	$ 982,062
Stock repurchase program, authorized amount																								$ 200,000
Share repurchases (in shares)																			1,000,000	0
Share repurchases, amount																			$ 7,400
Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Issuance of common stock																			$ 389,548	$ 423,444
Stock repurchase program, authorized amount																							$ 100,000
Share repurchases (in shares)																			0
7.50% Series A Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Preferred stock, par values (in dollars per share)									$ 0.01
Number of Common shares (in shares)									6,200,000										6,210,000	6,210,000
Dividend interest rate									7.50%						7.50%
Net Proceeds									$ 150,000
Preferred stock, liquidation preference per share									$ 25
Risk free interest rate									1.91%
Expected dividend rate									9.73%
Expected volatility rate									17.95%
Expected term (in years)									10 years
Preferred stock, dividends (in dollars per share)		$ 0.47																	$ 1.88	$ 1.16	$ 0
Dividends on preferred stock			$ 2,910
7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Preferred stock, par values (in dollars per share)							$ 0.01
Number of Common shares (in shares)							11,300,000												11,300,000	11,300,000
Dividend interest rate							7.125%							7.125%
Net Proceeds							$ 273,400
Preferred stock, liquidation preference per share							$ 25
Risk free interest rate							1.56%
Expected dividend rate							11.20%
Expected volatility rate							18.23%
Expected term (in years)							10 years
Preferred stock, dividends (in dollars per share)		0.45																	$ 1.78	$ 0.89	0
Dividends on preferred stock			5,030
6.375% Series C Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Preferred stock, par values (in dollars per share)					$ 0.01
Number of Common shares (in shares)					16,100,000														16,100,000	0
Dividend interest rate					6.375%								6.375%
Net Proceeds					$ 389,500
Preferred stock, liquidation preference per share					$ 25
Risk free interest rate					1.55%
Expected dividend rate					9.00%
Expected volatility rate					17.39%
Expected term (in years)					10 years
Preferred stock, dividends (in dollars per share)		$ 0.40																	$ 1.60	$ 0	$ 0
Dividends on preferred stock			$ 6,410
Common Stock \| Common Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Issuance of common stock																			$ 1	$ 460	$ 580
Issuance stock (in shares)																			97,394	46,000,000	57,991,659
Distribution Agreement
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Common stock, par value (in dollars per share)											$ 0.01
Distribution Agreement \| Common Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of Common shares (in shares)																					500,000
Net Proceeds								$ 500,000			$ 500,000										$ 9,100
Options granted (in shares)																					50,000
Fair value of grants																					$ 100
Over-Allotment Option \| 7.50% Series A Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of Common shares (in shares)									600,000
Fair value of options granted to Manager									$ 500
Over-Allotment Option \| 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of Common shares (in shares)							1,100,000
Fair value of options granted to Manager							$ 700
Over-Allotment Option \| 6.375% Series C Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of Common shares (in shares)					1,600,000
Share-based Payment Arrangement, Nonemployee
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Risk free interest rate																2.40%
Expected dividend rate																9.30%
Expected volatility rate																19.26%
Expected term (in years)																10 years
Options granted (in shares)																4,600,000		2,900,000
Stock issued for services, value (usd per share)																$ 3,800,000
Share-based Payment Arrangement, Nonemployee \| Warrant
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Risk free interest rate				0.24%
Expected volatility rate				35.00%
Expected term (in years)				3 years
Options granted (in shares)				43,400,000															43,400,000
Exercise price range, lower range limit (in dollars per share)				$ 6.11
Exercise price range, upper range limit (in dollars per share)				$ 7.94
Share-based Payment Arrangement, Nonemployee \| Warrant \| Exercise Price One
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares exercisable (in shares)				24,600,000
Exercise price (in dollars per share)				$ 6.11
Share-based Payment Arrangement, Nonemployee \| Warrant \| Exercise Price Two
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares exercisable (in shares)				18,900,000
Exercise price (in dollars per share)				$ 7.94
Share-based Payment Arrangement, Nonemployee \| 6.375% Series C Preferred Stock
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Fair value of options granted to Manager					$ 1,000

EQUITY AND EARNINGS PER SHARE_2

EQUITY AND EARNINGS PER SHARE - Schedule of ATM Program Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Equity, Class of Treasury Stock [Line Items]
Number of Common shares (in shares)					33,610,000	17,510,000
Options granted (in shares)					1,619,739	6,352,000
ATM Program
Equity, Class of Treasury Stock [Line Items]
Number of Common shares (in shares)	0	0	0	97,394,000
Average price per share (in dollars per share)	$ 0	$ 0	$ 0	$ 0	$ 0
Gross Proceeds	$ 0	$ 0	$ 0	$ 1,662
Fees	0	0	0	0
Net Proceeds	$ 0	$ 0	$ 0	$ 1,649
ATM Program \| Share-based Payment Arrangement, Employee \| Held by the Manager
Equity, Class of Treasury Stock [Line Items]
Options granted (in shares)					10,000
Issuance of stock					$ 200

EQUITY AND EARNINGS PER SHARE_3

EQUITY AND EARNINGS PER SHARE - Outstanding Options (Details) - shares	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)	14,428,655
Held by the Manager
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)	11,991,622	10,511,167
Issued to the Manager and subsequently assigned to certain of the Manager’s employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)	2,430,033	2,290,749
Issued to the independent directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)	7,000	7,000
Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)	14,428,655	12,808,916

EQUITY AND EARNINGS PER SHARE_4

EQUITY AND EARNINGS PER SHARE - Schedule of Preferred Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 16, 2020	Feb. 14, 2020	Aug. 15, 2019	Jul. 02, 2019	Feb. 29, 2020	Aug. 31, 2019	Jul. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Number of Common shares (in shares)								33,610,000	17,510,000
Preferred stock, aggregate liquidation preference								$ 840,250	$ 437,750
Carrying Value								$ 812,992
Preferred stock, dividends (in dollars per share)								$ 5.26	$ 2.05	$ 0
Preferred stock, liquidation preference per share									$ 25
7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Class of Stock [Line Items]
Number of Common shares (in shares)				6,200,000				6,210,000	6,210,000
Preferred stock, aggregate liquidation preference								$ 155,250	$ 155,250
Issuance Discount								3.15%
Carrying Value								$ 150,026
Preferred stock, dividends (in dollars per share)	$ 0.47							$ 1.88	$ 1.16	0
Dividend interest rate				7.50%			7.50%
Preferred stock, liquidation preference per share				$ 25
7.125% Series B Preferred Stock
Class of Stock [Line Items]
Number of Common shares (in shares)			11,300,000					11,300,000	11,300,000
Preferred stock, aggregate liquidation preference								$ 282,500	$ 282,500
Issuance Discount								3.15%
Carrying Value								$ 273,418
Preferred stock, dividends (in dollars per share)	0.45							$ 1.78	$ 0.89	0
Dividend interest rate			7.125%			7.125%
Preferred stock, liquidation preference per share			$ 25
6.375% Series C Preferred Stock
Class of Stock [Line Items]
Number of Common shares (in shares)		16,100,000						16,100,000	0
Preferred stock, aggregate liquidation preference								$ 402,500	$ 0
Issuance Discount								3.15%
Carrying Value								$ 389,548
Preferred stock, dividends (in dollars per share)	$ 0.40							$ 1.60	$ 0	$ 0
Dividend interest rate		6.375%			6.375%
Preferred stock, liquidation preference per share		$ 25

EQUITY AND EARNINGS PER SHARE_5

EQUITY AND EARNINGS PER SHARE - Common Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 16, 2020	Sep. 23, 2020	Jun. 22, 2020	Mar. 31, 2020	Dec. 16, 2019	Sep. 23, 2019	Jun. 18, 2019	Mar. 25, 2019	Dec. 20, 2018	Sep. 20, 2018	Jun. 21, 2018	Mar. 22, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Dividends Payable [Line Items]
Dividends declared per share of common stock (in dollars per share)													$ 0.20	$ 0.50	$ 0.50	$ 0.50	$ 2	$ 2
Total Amounts Distributed (millions)	$ 82.9	$ 62.4	$ 41.6	$ 20.8	$ 207.8	$ 207.8	$ 207.8	$ 207.7	$ 184.6	$ 170.2	$ 169.9	$ 168.1
Quarterly Dividend
Dividends Payable [Line Items]
Dividends declared per share of common stock (in dollars per share)	$ 0.20	$ 0.15	$ 0.10	$ 0.05	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50	$ 0.50

EQUITY AND EARNINGS PER SHARE_6

EQUITY AND EARNINGS PER SHARE - Schedule of Warrants (Details) - $ / shares	May 19, 2020	Feb. 28, 2019	Jan. 31, 2018	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance, Outstanding options (in shares)				12,808,916	8,498,138
Options granted (in shares)				1,619,739	6,352,000
Exercised (in shares)				0	(2,041,222)
Options expired unexercised (in shares)				0	0
Ending balance, Outstanding options (in shares)				14,428,655	12,808,916
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, options granted (in dollars per share)				$ 17.41	$ 16.20
Exercised (in dollars per share)				$ 0	$ (13.88)
Share-based Payment Arrangement, Nonemployee
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options granted (in shares)		4,600,000	2,900,000
Share-based Payment Arrangement, Nonemployee \| Warrant
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance, Outstanding options (in shares)				0
Options granted (in shares)	43,400,000			43,400,000
Exercised (in shares)				0
Options expired unexercised (in shares)				0
Ending balance, Outstanding options (in shares)				43,400,000	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Beginning balance, outstanding warrants (in dollars per share)				$ 0
Weighted average exercise price, options granted (in dollars per share)				6.79
Exercised (in dollars per share)				0
Expired (in dollars per share)				0
Ending balance, outstanding warrants (in dollars per share)				6.79	$ 0
Anti-dilutive adjustment (in dollars per share)				$ 0.10

EQUITY AND EARNINGS PER SHARE_7

EQUITY AND EARNINGS PER SHARE - Outstanding Options by Recipient (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	14,428,655
Options exercisable (in shares)	10,740,896
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	7,000	7,000
Stock Options \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	7,000
Options exercisable (in shares)	7,000
Weighted average exercise price (in dollars per share)	$ 13.57
Intrinsic value of exercisable options	$ 0
Stock Options \| Manager \| 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	1,130,916
Options exercisable (in shares)	1,130,916
Weighted average exercise price (in dollars per share)	$ 13.95
Intrinsic value of exercisable options	$ 0
Stock Options \| Manager \| 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	5,320,000
Options exercisable (in shares)	4,735,167
Weighted average exercise price (in dollars per share)	$ 16.67
Intrinsic value of exercisable options	$ 0
Stock Options \| Manager \| 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	6,351,000
Options exercisable (in shares)	4,327,900
Weighted average exercise price (in dollars per share)	$ 16.13
Intrinsic value of exercisable options	$ 0
Stock Options \| Manager \| 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of unexercised options (in shares)	1,619,739
Options exercisable (in shares)	539,913
Weighted average exercise price (in dollars per share)	$ 17.41
Intrinsic value of exercisable options	$ 0

EQUITY AND EARNINGS PER SHARE_8

EQUITY AND EARNINGS PER SHARE - Options Assigned (Details)	Dec. 31, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares) \| shares	14,428,655
2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares) \| shares	1,159,833
2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares) \| shares	1,270,200
Options Assigned
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares) \| shares	2,430,033
Minimum \| 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of exercise prices (in dollars per share) \| $ / shares	$ 16.55
Minimum \| 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of exercise prices (in dollars per share) \| $ / shares	15.14
Maximum \| 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of exercise prices (in dollars per share) \| $ / shares	18.02
Maximum \| 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Range of exercise prices (in dollars per share) \| $ / shares	$ 16.68

EQUITY AND EARNINGS PER SHARE_9

EQUITY AND EARNINGS PER SHARE - Activity in Outstanding Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Beginning balance, Outstanding options (in shares)	12,808,916	8,498,138
Options granted (in shares)	1,619,739	6,352,000
Options exercised (in shares)	0	(2,041,222)
Options expired unexercised (in shares)	0	0
Ending balance, Outstanding options (in shares)	14,428,655	12,808,916
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Weighted average exercise price, options granted (in dollars per share)	$ 17.41	$ 16.20
Weighted average exercise price, options exercised (in dollars per share)	$ 0	$ 13.88

EQUITY AND EARNINGS PER SHAR_10

EQUITY AND EARNINGS PER SHARE - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss)	$ (1,357,684)	$ 605,933	$ 1,004,531
Noncontrolling interests in income of consolidated subsidiaries	52,674	42,637	40,564
Dividends on preferred stock	54,295	13,281	0
Net income (loss) attributable to common stockholders	$ (1,464,653)	$ 550,015	$ 963,967
Basic (in shares)	415,513,187	408,789,642	341,268,923
Diluted weighted average shares of common stock outstanding (in shares)	415,513,187	408,990,107	343,137,361
Basic earnings per share attributable to common stockholders (in dollars per share)	$ (3.52)	$ 1.35	$ 2.82
Diluted earnings per share attributable to common stockholders (in dollars per share)	$ (3.52)	$ 1.34	$ 2.81
Stock options
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of stock options (in shares)	0	200,465	1,868,438
Warrant
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of stock options (in shares)	0	0	0

EQUITY AND EARNINGS PER SHAR_11

EQUITY AND EARNINGS PER SHARE - Schedule of Antidilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from the calculation of diluted net income (loss) per share (in shares)	0	0	0
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from the calculation of diluted net income (loss) per share (in shares)	7,328,961	0	0

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loss Contingencies [Line Items]
Representation and warranties		$ 9,800
Residential mortgage loan repurchase liability	[1]	1,452,005	$ 172,336
Rent expense, net of sublease income		13,400	10,300	$ 4,800
Sublease rentals		1,100
Consumer Portfolio Segment
Loss Contingencies [Line Items]
Loans of unfunded and available revolving credit privileges		685,575	$ 827,545
New Penn
Loss Contingencies [Line Items]
Committed to fund		15,000,000
Consumer Loan SPVs \| Consumer Portfolio Segment \| Unfunded Loan Commitment
Loss Contingencies [Line Items]
Loans of unfunded and available revolving credit privileges		$ 23,200

[1]	See Note 6 for details.

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Schedule of Future Commitments for Non-Cancelable Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
2021	$ 13,439
2022	10,118
2023	5,887
2024	2,770
2025	2,146
2026 and thereafter	0
Total remaining undiscounted lease payments	34,360
Less: imputed interest	3,090
Total remaining discounted lease payments	$ 31,270	$ 38,520

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Other Information Related to Operating Leases (Details)	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Weighted-average remaining lease term (years)	3 years 2 months 12 days	3 years 10 months 24 days
Weighted-average discount rate	4.50%	4.50%

TRANSACTIONS WITH AFFILIATES _3

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES - Narrative (Details) $ / shares in Units, $ in Millions	May 19, 2020USD ($)$ / sharesshares	Mar. 31, 2020USD ($)purchaser	Feb. 28, 2019shares	Jan. 31, 2018shares	Dec. 31, 2020$ / sharesshares	Dec. 31, 2019$ / sharesshares
Related Party Transaction [Line Items]
Management agreement, renewal term (in years)					1 year
Termination fee, number of months' pay (in months)					12 months
Proportion of directors' votes needed to terminate					0.6667
Number of purchasers \| purchaser		6
Owned mortgages, mortgage-based and asset-backed securities at fair value		$ 6,100
Proceeds from sale of mortgage-backed securities		3,300
Options granted (in shares) \| shares					1,619,739	6,352,000
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01				$ 0.01	$ 0.01
Share-based Payment Arrangement, Nonemployee
Related Party Transaction [Line Items]
Options granted (in shares) \| shares			4,600,000	2,900,000
Warrant \| Share-based Payment Arrangement, Nonemployee
Related Party Transaction [Line Items]
Options granted (in shares) \| shares	43,400,000				43,400,000
Percentage of lenders and recipients managed by an affiliate of the manager	0.48
2020 Term Loan
Related Party Transaction [Line Items]
Debt instrument, term	3 years
Principal amount	$ 600
Fortress Purchaser
Related Party Transaction [Line Items]
Owned mortgages, mortgage-based and asset-backed securities at fair value		1,850
Payments to acquire mortgage-backed securities		$ 1,000
Manager
Related Party Transaction [Line Items]
Management fee rate (percent)					1.50%
Incentive compensation percentage					25.00%
Interest rate for incentive compensation					10.00%

TRANSACTIONS WITH AFFILIATES _4

TRANSACTIONS WITH AFFILIATES AND AFFILIATED ENTITIES - Schedule of Affiliate Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Due to Related Parties [Abstract]
Total	$ 9,450	$ 103,882
Management fees	89,134	79,472	$ 62,594
Incentive compensation	0	91,892	94,900
Manager
Due to Related Parties [Abstract]
Management fees	7,478	7,076
Incentive compensation	0	91,892
Expense reimbursements and other	1,972	4,914
Total	9,450	103,882
Management fees	89,134	79,472	62,594
Incentive compensation	0	91,892	94,900
Expense reimbursements	500	500	500
Total	$ 89,634	$ 171,864	$ 157,994

RECLASSIFICATION FROM ACCUMUL_3

RECLASSIFICATION FROM ACCUMULATED OTHER COMPREHENSIVE INCOME INTO NET INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other-than-temporary impairment (OTTI) on securities	$ (13,404)	$ (25,174)	$ (30,017)
Net income (loss)	(1,357,684)	605,933	1,004,531
Allocation of income tax expense to other comprehensive income	1,500
Reclassification out of Accumulated Other Comprehensive Income \| Accumulated Net Investment Gain (Loss) Including Portion Attributable to Noncontrolling Interest
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Gain (loss) on settlement of investments, net	(753,713)	(205,989)	29,936
Other-than-temporary impairment (OTTI) on securities	13,404	25,174	30,017
Net income (loss)	$ (740,309)	$ (180,815)	$ 59,953

INCOME TAXES - Schedule of Inco

INCOME TAXES - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	Mar. 27, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal		$ (2,197)	$ 148	$ 6,146
State and Local		4,084	3,411	477
Total Current Income Tax Expense (Benefit)		1,887	3,559	6,623
Deferred:
Federal		17,516	28,939	(68,907)
State and Local		(2,487)	9,268	(11,147)
Total Deferred Income Tax Expense (Benefit)		15,029	38,207	(80,054)
Total Income Tax (Benefit) Expense		$ 16,916	$ 41,766	$ (73,431)
Operating loss carryback, CARESAct	$ 23,000
Tax benefit, CARESAct	$ 3,000

INCOME TAXES - Schedule of Repo

INCOME TAXES - Schedule of Reported Provision for Income Taxes and the U.S. Federal Statutory Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Provision at the statutory rate	21.00%	21.00%	21.00%
Non-taxable REIT income	(26.30%)	(16.26%)	(25.44%)
State and local taxes	3.70%	2.36%	(1.19%)
Change in valuation allowance	0.00%	0.00%	(2.31%)
Change in federal tax rate	0.00%	0.00%	0.00%
Other	0.43%	0.66%	(0.30%)
Total provision	(1.17%)	7.76%	(8.24%)

INCOME TAXES - Schedule of Defe

INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net operating losses and tax credit carryforwards	$ 5,636	$ 79,897
Basis Differences related to assets and investments	18,868	16,279
Unrealized mark to market	75	10,084
Other	630	1,194
Total deferred tax assets	25,209	107,454
Less valuation allowance	0	0
Net deferred tax assets	25,209	107,454
Deferred tax liabilities:
Mortgage servicing rights	(16,189)	(65,582)
Basis Differences related to assets and investments	(12,539)	(29,022)
Fixed asset depreciation	(1,231)	(4,181)
Other	(3,109)	0
Total deferred tax liability	(33,068)	(98,785)
Net deferred tax assets (liability)		$ 8,669
Net deferred tax assets (liability)	(7,859)
Federal and State Tax Authority
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	15,000
Net operating loss carryforward that will begin to expire in 2034	$ 13,800

INCOME TAXES - Schedule of Taxa

INCOME TAXES - Schedule of Taxable Common Stock Distributions (Details) - $ / shares	1 Months Ended			12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Class of Stock [Line Items]
Dividends per share (in dollars per share)				$ 0.62	$ 1.87	$ 1.60
Ordinary Income				78.01%	77.53%	78.03%
Long-term Capital Gain				0.00%	15.82%	1.03%
Return of Capital				21.99%	6.65%	20.94%
Dividends declared per share of common stock (in dollars per share)	$ 0.20	$ 0.50	$ 0.50	$ 0.50	$ 2	$ 2
Preferred stock, dividends (in dollars per share)				5.26	2.05	$ 0
Series A Preferred Stock
Class of Stock [Line Items]
Dividends per share (in dollars per share)				$ 1.88	$ 0.69
Ordinary Income				100.00%	84.18%
Long-term Capital Gain				0.00%	15.82%
Return of Capital				0.00%	0.00%
Preferred stock, dividends (in dollars per share)	0.47
Series B Preferred Stock
Class of Stock [Line Items]
Dividends per share (in dollars per share)				$ 1.78	$ 0.45
Ordinary Income				100.00%	84.18%
Long-term Capital Gain				0.00%	15.82%
Return of Capital				0.00%	0.00%
Preferred stock, dividends (in dollars per share)	0.45
Series C Preferred Stock
Class of Stock [Line Items]
Dividends per share (in dollars per share)				$ 1.20
Ordinary Income				100.00%
Long-term Capital Gain				0.00%
Return of Capital				0.00%
Preferred stock, dividends (in dollars per share)	$ 0.40

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 29, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Feb. 08, 2021
Subsequent Event [Line Items]
Dividends declared per share of common stock (in dollars per share)		$ 0.20	$ 0.50	$ 0.50	$ 0.50	$ 2	$ 2
Dividends					$ 332,479	$ 807,788	$ 661,859
Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share of common stock (in dollars per share)	$ 0.20
Dividends	$ 82,900
Stock repurchase program, authorized amount								$ 200,000