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Document and entity information - shares	6 Months Ended
Document and entity information - shares	Jun. 30, 2014	Jul. 18, 2014
Entity information [Line Items]
Entity registrant name	Altisource Asset Management Corporation
Entity central index key	0001555074
Current fiscal year end date	--12-31
Entity filer category	Accelerated Filer
Document type	10-Q
Document period end date	Jun. 30, 2014
Document fiscal year focus	2014
Document fiscal period focus	Q2
Amendment flag	false
Entity common stock, shares outstanding		2,242,672

Consolidated Balance Sheets - USD ($)	Jun. 30, 2014	Dec. 31, 2013
Real estate held for use:
Land (from consolidated VIE)	$ 3,875,000	$ 478,000
Rental residential properties (net of accumulated depreciation of $172 and $24, respectively - from consolidated VIE)	14,917,000	3,092,000
Real estate owned (from consolidated VIE)	231,013,000	32,332,000
Real Estate Investment Property, Net	249,805,000	35,902,000
Real estate assets held for sale (from consolidated VIE)	27,572,000	1,186,000
Mortgage loans (from consolidated VIE)	2,024,028,000	1,207,163,000
Mortgage Loans Held For Investment	144,009,000	0
Cash and cash equivalents (including from consolidated VIE $130,758 and $115,988, respectively)	204,642,000	140,000,000
Restricted cash	10,269,000	5,878,000
Accounts Receivable, Net, Current	955,000	1,428,000
Related party receivables (from consolidated VIE)	12,608,000	9,260,000
Deferred leasing and financing costs, net (from consolidated VIE)	3,457,000	2,293,000
Prepaid expenses and other assets (including from consolidated VIE $260 and $1,542, respectively)	1,678,000	1,994,000
Total assets	2,679,023,000	1,405,104,000
Liabilities:
Repurchase agreements (from consolidated VIE)	1,271,483,000	602,382,000
Accounts payable and accrued liabilities (including from consolidated VIE $7,459 and $4,952, respectively)	10,679,000	6,872,000
Related party payables (including from consolidated VIE $4,078 and $1,409, respectively)	4,911,000	2,883,000
Total liabilities	1,287,073,000	612,137,000
Commitments and contingencies (Note 6)	0	0
MezzanineEquity [Abstract]
Preferred stock, $0.01 par value, 250,000 shares issued and outstanding as of June 30, 2014 and none issued or outstanding as of December 31, 2013; redemption value $250,000	248,824,000	0
Equity:
Common stock, $.01 par value, 5,000,000 authorized shares; 2,436,870 and 2,242,672 shares issued and outstanding, respectively as of June 30, 2014 and 2,354,774 shares issued and outstanding as of December 31, 2013	24,000	24,000
Additional paid-in capital	15,610,000	12,855,000
Retained earnings (accumulated deficit)	14,657,000	(5,339,000)
Treasury stock, at cost, 194,198 shares as of June 30, 2014 and none as of December 31, 2013	(197,673,000)	0
Total stockholders' equity	(167,382,000)	7,540,000
Noncontrolling interest in consolidated affiliate	1,310,508,000	785,427,000
Total equity	1,143,126,000	792,967,000
Total liabilities and equity	$ 2,679,023,000	$ 1,405,104,000

Consolidated Balance Sheets Parentheticals (Parentheticals) - USD ($)	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Real Estate Investment Property, Accumulated Depreciation	$ 172,000	$ 24,000
Assets:
Cash and cash equivalents	204,642,000	140,000,000
Accounts Receivable, Net, Current	955,000	1,428,000
Related party receivables	12,608,000	9,260,000
Prepaid expenses and other assets	1,678,000	1,994,000
Liabilities:
Accounts payable and accrued liabilities	10,679,000	6,872,000
Related party payables	$ 4,911,000	$ 2,883,000
Preferred Stock, Par or Stated Value Per Share	$ 0.01
Preferred Stock, Shares Issued	250,000
Preferred Stock, Shares Outstanding	250,000
Preferred Stock, Redemption Amount	$ 250,000,000
Equity:
Common stock, par value per share, in USD	$ 0.01	$ 0.01
Common stock, shares authorized	5,000,000	5,000,000
Common stock, shares issued	2,436,870	2,354,774
Common stock, shares outstanding	2,242,672	2,354,774
Treasury Stock, Shares, Acquired	194,198
Variable Interest Entity, Primary Beneficiary [Member]
Assets:
Cash and cash equivalents	$ 130,758,000	$ 115,988,000
Accounts Receivable, Net, Current	631,000	1,428,000
Related party receivables	12,608,000	9,260,000
Prepaid expenses and other assets	260,000	1,542,000
Liabilities:
Accounts payable and accrued liabilities	7,459,000	4,952,000
Related party payables	$ 4,078,000	$ 1,409,000

Consolidated Statement of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Rental revenues and net gain on mortgage loans:
Rental revenues	$ 181	$ 0	$ 250	$ 0
Net unrealized gain on mortgage loans	105,042	7,165	170,172	8,293
Net realized gain on mortgage loans	10,819	1,719	20,140	2,106
Total rental revenues and net gain on mortgage loans	116,042	8,884	190,562	10,399
Expenses:
Residential property operating expenses	3,253	84	4,303	84
Real estate depreciation and amortization	103	0	151	0
Mortgage loan servicing costs	16,925	1,242	28,362	1,634
Interest expense	6,945	654	12,653	696
General and administrative	7,421	3,369	13,376	6,067
Related party general and administrative	2,675	0	3,598	207
Total expenses	37,322	5,349	62,443	8,688
Other income	2,101	193	2,209	193
Income before income taxes	80,821	3,728	130,328	1,904
Income tax (benefit) expense	(191)	0	575	0
Net income	81,012	3,728	129,753	1,904
Net income attributable to noncontrolling interest in consolidated affiliate	(67,782)	(5,227)	(109,695)	(4,243)
Net income (loss) attributable to common stockholders	$ 13,230	$ (1,499)	$ 20,058	$ (2,339)
Earnings (loss) per share of common stock – basic:
Earnings (loss) per basic share	$ 5.87	$ (0.64)	$ 8.68	$ (1.00)
Weighted average common stock outstanding – basic	2,255,278	2,343,462	2,310,931	2,343,338
Earnings (loss) per share of common stock – diluted:
Earnings (loss) per diluted share	$ 4.60	$ (0.64)	$ 7.00	$ (1.00)
Weighted average common stock outstanding – diluted	2,874,906	2,343,462	2,865,185	2,343,338

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]	Noncontrolling interest in consolidated affiliates [Member]
Beginning balance, Shares at Dec. 31, 2012		2,343,213
Beginning balance at Dec. 31, 2012	$ 104,881	$ 23	$ 4,993	$ (46)		$ 99,911
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, including option exercises, shares		2,212
Issuance of common stock, including option exercises	2	$ 0	2
Capital contribution from noncontrolling interest	309,591					309,591
Share-based compensation	1,294
Net income	1,904			(2,339)		4,243
Ending balance, Shares at Jun. 30, 2013		2,345,425
Ending balance at Jun. 30, 2013	$ 417,672	$ 23	6,289	(2,385)		413,745
Treasury Stock, Shares, Acquired	194,198
Beginning balance, Shares at Dec. 31, 2013	2,354,774	2,354,774
Beginning balance at Dec. 31, 2013	$ 792,967	$ 24	12,855	(5,339)		785,427
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, including option exercises, shares		82,096
Issuance of common stock, including option exercises	20	$ 0	20
Treasury shares repurchased	(197,673)				$ (197,673)
Capital contribution from noncontrolling interest	468,391					468,391
Distribution from noncontrolling interest	(53,118)					(53,118)
Amortization of preferred stock issuance costs	(62)			(62)
Share-based compensation	2,848					113
Net income	$ 129,753			20,058		109,695
Ending balance, Shares at Jun. 30, 2014	2,242,672	2,436,870
Ending balance at Jun. 30, 2014	$ 1,143,126	$ 24	$ 15,610	$ 14,657	$ (197,673)	$ 1,310,508

Consolidated Statements of Equity Parenthetical Parentheticals	6 Months Ended
	Jun. 30, 2014 shares
Statement of Stockholders' Equity [Abstract]
Treasury Stock, Shares, Acquired	194,198

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Operating activities:
Net income	$ 129,753	$ 1,904
Adjustments to reconcile net income to net cash used in operating activities:
Net unrealized gain on mortgage loans	(170,172)	(8,293)
Net realized gain on mortgage loans	(20,140)	(2,106)
Net realized gain on sale of real estate	(1,293)	0
Real estate depreciation, amortization and other non-cash charges	3,373	0
Share-based compensation	2,848	1,294
Amortization of deferred financing costs	1,109	322
Changes in operating assets and liabilities:
Accounts receivable	473	0
Related party receivables	4,952	724
Prepaid expenses and other assets	(1,008)	(280)
Accounts payable and accrued liabilities	2,234	1,012
Related party payables	2,028	234
Net cash used in operating activities	(45,843)	(5,189)
Investing activities:
Investment in mortgage loans	(1,056,493)	(168,165)
Investment in real estate	(27,569)	(278)
Investment in renovations	(1,700)	(22)
Real Estate Tax Advances	(14,368)	0
Proceeds from Sale of Loans Held-for-investment	70,379	5,940
Payments for (Proceeds from) Loans and Leases	7,951	1,122
Proceeds from Sale of Wholly Owned Real Estate and Real Estate Acquired in Settlement of Loans	3,466	0
Increase (Decrease) in Earnest Money Deposits Outstanding	0	(20,142)
Change in restricted cash	(4,391)	0
Net cash used in investing activities	(1,022,725)	(181,545)
Financing activities:
Proceeds from issuance of preferred stock	250,000	0
Cost of issuance of preferred stock	(1,176)	0
Issuance of common stock, including stock option exercises	3,155	123
Repurchase of common stock	(197,673)	0
Payment of tax withholdings on exercise of stock options	(3,135)	(121)
Cost of issuance of common stock	0	0
Capital contribution from noncontrolling interest	468,391	310,254
Payments of Ordinary Dividends, Noncontrolling Interest	(53,118)	0
Proceeds from repurchase agreement	749,240	79,761
Repayments of repurchase agreement	(80,139)	(79,289)
Payment of deferred financing costs	(2,335)	(1,162)
Net cash provided by financing activities	1,133,210	309,566
Net increase in cash and cash equivalents	64,642	122,832
Cash and cash equivalents as of beginning of the period	140,000	105,014
Cash and cash equivalents as of end of the period	204,642	227,846
Supplemental disclosure of cash flow information
Cash paid for interest	10,496	375
Transfer of mortgage loans to real estate owned	220,971	4,399
Transfer of real estate owned to mortgage loans	3,594	0
Changes in accrued equity issuance costs	1,746	663
Changes in receivables from mortgage loan dispositions, payments and real estate tax advances to borrowers, net	$ 4,796	$ 3,583

Organization and basis of presentation	6 Months Ended
Organization and basis of presentation	Jun. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and basis of presentation	Organization and basis of presentation We were incorporated in the United States Virgin Islands on March 15, 2012, which we refer to as “inception.” Subsequent to our separation from Altisource Portfolio Solutions S.A. ("Altisource") on December 21, 2012, we immediately commenced operations. In October 2013, we applied for and were granted registration by the SEC as a registered investment adviser under section 203(c) of the Investment Advisers Act of 1940. Our primary business is to provide asset management and certain corporate governance services to Altisource Residential Corporation, which we refer to as “Residential” under a 15-year asset management agreement beginning December 21, 2012, which we refer to as the “Residential asset management agreement.” Residential is a Maryland corporation that acquires and manages single-family rental properties by acquiring sub-performing and non-performing mortgages throughout the United States. Residential is currently our primary source of revenue and will drive our potential future growth. The Residential asset management agreement entitles us to incentive fees, which we refer to as our “incentive management fees,” that gives us a share of Residential’s cash flow available for distribution to its stockholders as well as reimbursement for certain overhead and operating expenses. Accordingly, our operating results are highly dependent on Residential's ability to achieve positive operating results. We have concluded that Residential is a variable interest entity (“VIE”) because Residential’s equity holders lack the ability through voting rights to make decisions about Residential’s activities that have a significant effect on the success of Residential. We have also concluded that we are the primary beneficiary of Residential because under the Residential asset management agreement we have the power to direct the activities of Residential that most significantly impact Residential’s economic performance including establishing Residential’s investment and business strategy. As a result, we consolidate Residential in our consolidated financial statements. Additionally, we provide management services to NewSource Reinsurance Company Ltd., which we refer to as “NewSource,” a title insurance and reinsurance company in Bermuda. In October 2013, we invested $2.0 million in 100% of the common stock of NewSource and Residential invested $18.0 million in the non-voting preferred stock of NewSource. On December 2, 2013, NewSource became registered as a licensed reinsurer with the Bermuda Monetary Authority (“BMA”). Because we own 100% of voting common stock of NewSource and there are no substantive kick-out rights granted to other equity owners, we consolidate NewSource in our consolidated financial statements. Since its separation from Altisource, Residential has completed three public equity offerings with aggregate net proceeds of approximately $1.1 billion. On May 1, 2013, Residential completed a public offering of 17,250,000 shares of common stock at $18.75 per share and received net proceeds of approximately $309.5 million. On October 1, 2013, Residential completed its second public offering of 17,187,000 shares of common stock at $21.00 per share and received net proceeds of $349.4 million. On January 22, 2014, Residential completed its third public offering of 14,200,000 shares of common stock at $34.00 per share and received net proceeds of approximately $467.6 million. On March 22, 2013, September 12, 2013 and September 23, 2013, Residential entered into three separate repurchase agreements to finance the acquisition and ownership of residential mortgage loans and REO properties. The maximum aggregate funding available under each of these repurchase agreements was increased at least one time. For the repurchase agreement entered into on March 22, 2013, Residential amended it on April 21, 2014 to initially increase the aggregate maximum borrowing capacity from $100.0 million to $200.0 million. The maturity date of the repurchase agreement was also extended to April 20, 2015 subject to an additional one-year extension with the approval of the lender. On June 11, 2014, Residential further amended this repurchase agreement to increase the aggregate maximum borrowing capacity from $200.0 million to $375.0 million, subject to certain sublimits, for the period from June 11, 2014 through October 11, 2014. The aggregate borrowing capacity under the repurchase agreement will revert to $200.0 million after October 11, 2014. The repurchase agreement dated September 12, 2013, as amended on December 18, 2013, has an aggregate funding capacity of $250.0 million and matures on March 11, 2016. This agreement includes a provision that, beginning in the nineteenth month, Residential will not be able to finance mortgage loans in excess of amounts outstanding under the facility at the end of the eighteenth month. For the repurchase agreement dated September 23, 2013, Residential amended it on December 23, 2013 to initially increase the aggregate maximum borrowing capacity from $200.0 million to $400.0 million. On June 25, 2014, Residential further amended this repurchase agreement to increase the aggregate maximum borrowing capacity from $400.0 million to $1.0 billion, subject to certain sublimits. The maturity date of the repurchase agreement is March 23, 2015. Residential has the option to extend this agreement for an additional year with no additional funding. Following the amendments to Residential's repurchase agreements, the maximum aggregate funding available to Residential under these repurchase agreements as of June 30, 2014 was $1.7 billion, subject to certain sublimits, eligibility requirements and conditions precedent to each funding. As of June 30, 2014, an aggregate of $1.3 billion was outstanding under Residential's repurchase agreements. All obligations under the repurchase agreements are fully guaranteed by Residential. On March 18, 2014, we closed a private placement for the issuance and sale of 250,000 shares of our Series A Convertible Preferred Stock to Luxor Capital Group, LP, a New York based investment manager, and other institutional investors for proceeds of $250.0 million. We used a portion of the proceeds from this transaction to repurchase shares of our common stock and for other corporate purposes. We intend to use the remaining proceeds to repurchase from time to time additional shares of our common stock and for other corporate purposes. Such stock repurchases may be made in the open market, block trades or privately-negotiated transactions. In connection with the foregoing, the Company's Board of Directors has approved a share repurchase program that authorizes us to repurchase up to $300.0 million of our common stock. We ceased to be a development stage enterprise in the second quarter of 2013. Basis of presentation and use of estimates The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States which we refer to as “U.S. GAAP.” All wholly owned subsidiaries are included and all intercompany accounts and transactions have been eliminated. The preparation of consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. The unaudited consolidated financial statements and accompanying unaudited consolidated financial information, in our opinion, contain all adjustments necessary for a fair presentation of our financial position, results of operations and cash flows. We have omitted certain notes and other information from the interim consolidated financial statements presented in this Quarterly Report as permitted by SEC rules and regulations. These consolidated financial statements should be read in conjunction with our 2013 annual report on Form 10-K. Preferred stock During the first quarter of 2014, we issued $250.0 million of convertible preferred stock. All of the outstanding shares of preferred stock are redeemable by us in March 2020, the sixth anniversary of the date of issuance, and every five years thereafter. On these same redemption dates, each holder of preferred stock may cause us to redeem all the shares of preferred stock held by such holder at a redemption price equal to $1,000 per share. Accordingly, we classify these shares as mezzanine equity, outside of permanent stockholders' equity. The holders of shares of Series A Preferred Stock will not be entitled to receive dividends with respect to the Series A Preferred Stock. The shares of Series A Preferred Stock are convertible into shares of our common stock at a conversion price of $1,250 per share, subject to certain anti-dilution adjustments. Upon a change of control or upon a liquidation, dissolution or winding up of the Company, holders of the Series A Preferred Stock will be entitled to receive an amount in cash per Series A Preferred Stock equal to the greater of: (i) $1,000 plus the aggregate amount of cash dividends paid on the number of shares of Common Stock into which such share of Series A Preferred Stock was convertible on each ex-dividend date for such dividends; and (ii) the number of shares of Common Stock into which the Series A Preferred Stock is then convertible multiplied by the then current market price of the Common Stock. The Series A Preferred Stock confers no voting rights to holders, except with respect to matters that materially and adversely affect the voting powers, rights or preferences of the Series A Preferred Stock or as otherwise required by applicable law. With respect to the distribution of assets upon the liquidation, dissolution or winding up of the Company, the Series A Preferred Stock ranks senior to our common stock and on parity with all other classes of preferred stock that may be issued by us in the future. Treasury Stock We account for repurchased common stock under the cost method and include such treasury stock as a component of total shareholders’ equity. We have repurchased shares of our common stock (i) under our Board approval to repurchase up to $300.0 million in shares of our common stock and (ii) upon our withholding of shares of our common stock to satisfy tax withholding obligations in connection with the vesting of our restricted stock. Loans held for investment Loans held for investment consist of re-performing residential mortgage loans acquired from others. We do not originate loans. Each acquired loan is evaluated at acquisition to determine if the loan is impaired. Acquired distressed re-performing residential mortgage loans that have evidence of deteriorated credit quality at the time of acquisition are accounted for in accordance with the provisions of ASC Topic 310-30, Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality. Under ASC 310-30, acquired loans may be aggregated and accounted for as a pool of loans if the loans being aggregated have common risk characteristics. A pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. Under ASC Topic 310-30, Residential estimates cash flows expected to be collected, adjusted for expected prepayments and defaults. At each balance sheet date, Residential evaluates the pool of loans to determine whether the present value derived using the effective interest rate has decreased and, if so, recognizes a provision for loan loss. For any significant increases in cash flows expected to be collected, Residential adjusts the amount of accretable yield recognized on a prospective basis over the pool’s remaining life. Recently issued accounting standards In January 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-04, Troubled Debt Restructurings by Creditors. It provides that a repossession or foreclosure has occurred, and a creditor is considered to have received physical possession of residential real estate property collateralizing a consumer mortgage loan, upon either (1) the creditor obtaining legal title to the residential real estate property upon completion of a foreclosure or (2) the borrower conveying all interest in the residential real estate property to the creditor to satisfy that loan through completion of a deed in lieu of foreclosure or through a similar legal agreement. Additionally, the amendment requires disclosure of both (1) the amount of foreclosed residential real estate property held by the creditor and (2) the recorded investment in mortgage loans collateralized by residential real estate property that are in the process of foreclosure. The amended guidance may be applied using either a prospective transition method or a modified retrospective transition method and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2014, with early adoption permitted. We do not expect this amendment to have a significant effect on our financial position or results of operations since our accounting policies and disclosures are currently consistent with the requirements set forth in the amendment. In May 2014, the FASB issued ASU 2014-09 Revenue from Contracts with Customers. ASU 2014-09 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to a customer at an amount reflecting the consideration it expects to receive in exchange for those goods or services. ASU 2014-09 may be applied using either a full retrospective or a modified retrospective approach and is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early adoption is not permitted. We are currently evaluating the impact of this amendment on our financial position and results of operations.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

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+ Details

Mortgage loans

6 Months Ended

Jun. 30, 2014

Mortgage Loans on Real Estate [Abstract]

Mortgage loans

Acquisitions of non-performing residential mortgage loans

During the quarter ended June 30, 2014, Residential agreed to acquire an aggregate of 3,269 non-performing loans with an aggregate market value of underlying properties of $900.3 million. On June 27, 2014, Residential acquired 1,116 of these non-performing loans with an aggregate market value of underlying properties of $375.3 million for an aggregate purchase price of $235.0 million. On May 1, 2014, Residential also completed the acquisition of a portfolio of 664 non-performing mortgage loans and REO properties with an aggregate property value of $126.6 million for an aggregate purchase price of $92.7 million. Residential had previously agreed to purchase an aggregate of 915 non-performing mortgage loans and REO properties in this portfolio in March 2014. Subject to satisfactory due diligence results and final agreement on terms, Residential anticipates completing the acquisition of the remaining portions of these portfolios in the third quarter of 2014.

During the six months ended June 30, 2014, Residential’s total completed acquisitions consisted of an aggregate of 5,797 residential mortgage loans, substantially all of which were non-performing, and 190 REO properties having an aggregate UPB of approximately $1.6 billion and an aggregate market value of underlying properties of $1.4 billion. The aggregate purchase price for these acquisitions was $940.5 million.

During the three and six months ended June 30, 2014, Residential recognized $2.4 million and $2.9 million, respectively, for due diligence costs related to these and other transactions in general and administrative and related party general and administrative expense.

During the six months ended June 30, 2013, Residential completed the acquisition of the following portfolios of non-performing residential mortgage loans:


•	On February 14, 2013, a portfolio of first lien residential mortgage loans, substantially all of which were non-performing, having an aggregate market value of underlying properties of $94 million.


•	On March 21, 2013, a portfolio of first lien residential mortgage loans, substantially all of which were non-performing, having an aggregate market value underlying properties of $39 million.


•	On April 5, 2013, a portfolio of first lien residential mortgage loans, substantially all of which were non-performing, having an aggregate market value of underlying properties of $122 million.

During the three and six months ended June 30, 2013, Residential expensed $0.1 million and $0.4 million, respectively, for due diligence costs related to these and other transactions.

Throughout this quarterly report, all unpaid principal balance and market value amounts for the portfolios Residential has acquired are provided as of “cut-off date” for each transaction unless otherwise indicated. The “cut-off date” for each acquisition is a date shortly before the closing used to identify the final loans being purchased and the related unpaid principal balance, market value of underlying properties and other characteristics of the loans.

Acquisition of loans held for investment

During the three and six months ended June 30, 2014, Residential agreed to acquire an aggregate of 1,105 re-performing loans with an aggregate market value of underlying properties of $327.9 million. On June 27, 2014, Residential acquired 879 of these re-performing loans with an aggregate market value of underlying properties of $271.1 million for an aggregate purchase price of $144.6 million. Subject to satisfactory due diligence results and final agreement on terms, Residential anticipates completing the acquisition of the remaining portions of this portfolio in the third quarter of 2014.

Under ASC 310-30, acquired loans may be aggregated and accounted for as a pool of loans if the loans being aggregated have common risk characteristics. A pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows. The re-performing residential mortgage loans acquired in June 2014 have common risk characteristics and are being accounted for as a single loan pool. Under ASC 310-30 Residential estimates cash flows expected to be collected, adjusted for expected prepayments and defaults. For the three and six months ended June 30, 2014, Residential recognized no provision for loan loss nor any adjustments to the amount of the accretable yield.

The purchase price of the loans acquired during the three months ended June 30, 2014 is considered to be the fair value at the time of acquisition. The following table presents information regarding the estimates of the contractually required payments and the cash flows expected to be collected ($ in thousands):



	June 30, 2014
Contractually required principal and interest	$	325,000
Non-accretable yield	(96,263		)
Expected cash flows to be collected	228,737
Accretable yield	(84,728		)
Fair value at the date of acquisition	$	144,009

Transfer of mortgage loans to real estate owned

During the three months ended June 30, 2014 and 2013, Residential transferred 907 and 33 mortgage loans, respectively, to REO at an aggregate fair value based on broker price opinions ("BPOs"), of $124.4 million and $4.2 million respectively. Such transfers occur when the foreclosure sale is complete.

During the six months ended June 30, 2014 and 2013, Residential transferred 1,544 and 34 mortgage loans, respectively, to REO at an aggregate fair value based on BPOs, of $221.0 million and $4.4 million respectively.

Dispositions

During the three months ended June 30, 2014 and 2013, Residential disposed of 135 and 28 mortgage loans, respectively, primarily through short sales, refinancing, and foreclosure sales. In connection with these dispositions, Residential recorded $10.8 million and $1.7 million, respectively, of net realized gains on mortgage loans.

During the six months ended June 30, 2014 and 2013, Residential disposed of 251 and 38 mortgage loans, respectively, primarily through short sales, refinancing, and foreclosure sales. In connection with these dispositions, Residential recorded $20.1 million and $2.106 million, respectively, of net realized gains on mortgage loans.

Real estate assets, net	6 Months Ended
Real estate assets, net	Jun. 30, 2014
Real Estate [Abstract]
Real estate assets, net	Real estate assets, net Acquisitions During the three and six months ended June 30, 2014, Residential acquired 190 REO properties as part of their portfolio acquisitions. During the six months ended June 30, 2013, Residential acquired six REO properties. Residential acquired no REO properties during the three months ended June 30, 2013. The aggregate purchase price attributable to these acquired REO properties was $27.6 million in the first six months of 2014 and $0.3 million in the first six months of 2013. Real estate held for use As of June 30, 2014, Residential had 1,766 REO properties held for use. Of these properties, 102 of these properties had been rented, 40 were being listed for rent and 140 were in varying stages of renovation. With respect to the remaining 1,484 REO properties, we will make a final determination whether each property meets Residential’s rental profile after (a) applicable state redemption periods have expired, (b) the foreclosure sale has been ratified (c) Residential has recorded the deed for the property, (d) utilities have been activated and (e) Residential has secured access for interior inspection. A majority of the REO properties are subject to state regulations which require Residential to await the expiration of a redemption period before a foreclosure can be finalized. Residential includes these redemption periods in its portfolio pricing which generally reduces the price Residential pays for the mortgage loans. Once the redemption period expires, Residential immediately proceeds to record the new deed, take possession of the property, activate utilities, and start the inspection process in order to make its final determination. As of December 31, 2013, Residential had 246 REO properties held for use. Of these properties, 14 had been rented, 11 were being listed for rent and 18 were in various stages of renovation. With respect to the remaining 203 REO properties, we were in the process of determining whether these properties would meet Residential's rental profile. As of June 30, 2013, Residential had 40 REO properties held for use, for all of which we were in the process of determining whether the properties would meet the rental profile. If a REO property meets Residential's rental profile, we determine the extent of renovations that are needed to generate an optimal rent and maintain consistency of renovation specifications for future branding. If we determine that the REO property will not meet Residential's rental profile, we list the property for sale, in certain instances after renovations are made to optimize the sale proceeds. Real estate held for sale As of June 30, 2014, Residential classified 192 properties having carrying value of $27.6 million as real estate held for sale as they do not meet its residential rental property investment criteria. As of December 31, 2013, Residential had 16 REO properties having an aggregate carrying value of $1.2 million held for sale, and as of June 30, 2013, Residential had eight REO properties having a aggregate carrying value of $0.9 million held for sale. None of these REO properties have any operations; therefore, we are not presenting discontinued operations related to these properties. Dispositions During the three and six months ended June 30, 2014, Residential disposed of 22 and 24 residential properties, respectively. Residential did not dispose of any residential properties during the six months ended June 30, 2013.

Fair value of financial instruments

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Fair value of financial instruments

The following table sets forth the financial assets and liabilities that Residential measures at fair value by level within the fair value hierarchy as of June 30, 2014 and December 31, 2013 ($ in thousands):



	Level 1		Level 2		Level 3
	Quoted prices in active markets		Observable inputs other than Level 1 prices		Unobservable inputs
June 30, 2014
Recurring basis (assets)
Mortgage loans	$	—	$	—	$	2,024,028
Nonrecurring basis (assets)
Real estate assets held for sale	$	—	$	—	$	28,710
Transfer of real estate owned to mortgage loans	$	—	$	—	$	3,594
Transfer of mortgage loans to real estate owned	$	—	$	—	$	220,971
Not recognized on consolidated balance sheets at fair value (assets)
Mortgage loans held for investment	$	—	$	—	$	144,009
Not recognized on consolidated balance sheets at fair value (liabilities)
Repurchase agreements at fair value	—		$	1,271,483	$	—

December 31, 2013
Recurring basis (assets)
Mortgage loans	$	—	$	—	$	1,207,163
Nonrecurring basis (assets)
Real estate assets held for sale	$	—	$	—	$	1,520
Transfer of mortgage loans to real estate owned	$	—	$	—	$	31,014
Not recognized on consolidated balance sheets at fair value (liabilities)
Repurchase agreements at fair value	$	—	$	602,382	$	—

Residential has not transferred any assets from one level to another level during the three or six months ended June 30, 2014. Additionally there have been no transfers between levels for the year ended December 31, 2013.

The carrying values of Residential's and our cash and cash equivalents, restricted cash, related party receivables, accounts payable and accrued liabilities, related party payables, preferred stock, and investment in New Source are equal to or approximate fair value. The fair value of mortgage loans is estimated using our proprietary pricing model. The fair value of transfers of mortgage loans to real estate owned is estimated using BPOs. The purchase price of mortgage loans held for investment which were acquired with evidence of deteriorated credit quality is considered to be the fair value at the time of acquisition. The fair value of the repurchase agreements is estimated using the income approach based on credit spreads available currently in the market for similar floating rate debt.

The following table sets forth the changes in Residential's level 3 assets that are measured at fair value on a recurring basis ($ in thousands):



	Three months ended June 30, 2014			Three months ended June 30, 2013			Six months ended June 30, 2014			Six months ended June 30, 2013
Mortgage loans
Beginning balance	$	1,766,142		$	87,670		$	1,207,163		$	—
Investment in mortgage loans	300,503			79,908			913,011			168,165
Net unrealized gain on mortgage loans	105,042			7,165			170,172			8,293
Net realized gain on mortgage loans	10,819			1,719			20,140			2,106
Mortgage loan dispositions and payments	(44,314		)	(8,699		)	(83,772		)	(10,645		)
Real estate tax advances to borrowers	4,716			—			12,722			—
Transfer of real estate owned to mortgage loans	5,563			—			5,563			—
Transfer of mortgage loans to real estate owned	(124,443		)	(4,243		)	(220,971		)	(4,399		)
Ending balance at June 30	$	2,024,028		$	163,520		$	2,024,028		$	163,520

Net unrealized gain on mortgage loans held	$	70,623		$	7,165		$	108,820		$	8,293

The following table sets forth the fair value of Residential's mortgage loans, the related unpaid principal balance and market value of underlying properties by delinquency status as of June 30, 2014 and December 31, 2013 ($ in thousands):



	Number of loans	Carrying Value		Unpaid principal balance		Market value of underlying properties
June 30, 2014
Current	659	$	85,322	$	152,956	$	146,861
30	43	7,100		11,177		11,420
60	32	4,875		7,007		8,117
90	2,312	384,350		635,463		587,819
Foreclosure	9,024	1,542,381		2,465,697		2,097,710
Mortgage loans	12,070	$	2,024,028	$	3,272,300	$	2,851,927
December 31, 2013
Current	238	$	31,649	$	60,051	$	52,506
30	26	2,087		4,492		3,763
60	23	3,376		5,683		4,738
90	1,555	245,024		419,836		355,451
Foreclosure	6,212	925,027		1,609,546		1,310,439
Mortgage Loans	8,054	$	1,207,163	$	2,099,608	$	1,726,897

The following table sets forth the carrying value of Residential's re-performing mortgage loans held for investment, the related unpaid principal balance and market value of underlying properties by delinquency status as of June 30, 2014.



	Number of loans	Carrying value		Unpaid principal balance		Market value of underlying properties
June 30, 2014
Current	866	$	142,283	$	204,963	$	268,161
30	9	1,374		1,656		2,286
60	3	161		217		239
90	1	191		229		391
Mortgage loans held for investment	879	$	144,009	$	207,065	$	271,077

The significant unobservable inputs used in the fair value measurement of Residential's mortgage loans are discount rates, forecasts of future home prices, alternate loan resolution probabilities, resolution timelines and the value of underlying properties. Significant changes in any of these inputs in isolation could result in a significant change to the fair value measurement. A decline in the discount rate in isolation would increase the fair value. A decrease in the housing pricing index in isolation would decrease the fair value. Individual loan characteristics such as location and value of underlying collateral affect the loan resolution probabilities and timelines. An increase in the loan resolution timeline in isolation would decrease the fair value. A decrease in the value of underlying properties in isolation would decrease the fair value. The following table sets forth quantitative information about the significant unobservable inputs used to measure the fair value of Residential's mortgage loans as of June 30, 2014 and December 31, 2013:



Input	June 30, 2014	December 31, 2013
Equity discount rate	15.0%	15.0%
Debt to asset ratio	65.0%	55.0%
Cost of funds	3.5% over 1 month LIBOR	3.5% over 1 month LIBOR
Annual change in home pricing index	-0.2% to 7.6%	-0.3% to 7.6%
Loan resolution probabilities — modification	0% to 22.3%	0% to 22.3%
Loan resolution probabilities — rental	0% to 100.0%	0% to 100.0%
Loan resolution probabilities — liquidation	0% to 100.0%	0% to 100.0%
Loan resolution timelines (in years)	0.1 to 5.3	0.1 - 5.8
Value of underlying properties	$3,000 - $4,100,000	$3,000 - $3,550,000

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Repurchase agreements

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Repurchase agreement

Repurchase agreements

Residential's operating partnership has entered into master repurchase agreements with major financial institutions. The purpose of these repurchase agreements is to finance the acquisition and ownership of mortgage loans and REO properties in its portfolio. Residential has effective control of the assets associated with these agreements and therefore it has concluded these are financing arrangements. As of June 30, 2014, the weighted average annualized interest rate on borrowing under Residential's repurchase agreements was 3.03%. The following table sets forth data with respect to Residential's repurchase agreements as of June 30, 2014 and December 31, 2013 ($ in thousands):



	Maximum borrowing capacity		Book value of collateral		Amount outstanding
June 30, 2014
Repurchase agreement due April 20, 2015 (1)	$	375,000	$	608,977	$	324,381
Repurchase agreement due March 23, 2015	1,030,000		1,145,345		731,415
Repurchase agreement due March 11, 2016	250,000		405,348		215,687
	$	1,655,000	$	2,159,670	$	1,271,483
December 31, 2013
Repurchase agreement due April 21, 2014	$	100,000	$	166,350	$	85,364
Repurchase agreement due March 23, 2015	400,000		634,234		398,602
Repurchase agreement due March 11, 2016	250,000		205,328		118,416
	$	750,000	$	1,005,912	$	602,382

_____________


(1)	The aggregate borrowing capacity under the repurchase agreement will revert to $200.0 million after October 11, 2014.

Under the terms of the repurchase agreements, as collateral for the funds Residential draws thereunder, subject to certain conditions, Residential's operating partnership will sell to the applicable lender equity interests in its Delaware statutory trust subsidiaries that owns the applicable underlying assets on its behalf, or the trust will sell directly such underlying mortgage assets. In the event the lender determines the value of the collateral has decreased, it has the right to initiate a margin call and require Residential, or the applicable trust subsidiary, to post additional collateral or to repay a portion of the outstanding borrowings. The price paid by the lender for each mortgage asset Residential finances under the repurchase agreements is based on a percentage of the market value of the mortgage asset and may depend on its delinquency status. With respect to funds drawn under the repurchase agreements, Residential's operating partnership is required to pay the lender interest based on LIBOR or at the lender's cost of funds plus a spread calculated based on the type of applicable mortgage assets collateralizing the funding, as well as certain other customary fees, administrative costs and expenses to maintain and administer the repurchase agreements. Residential does not collateralize any of its repurchase facilities with cash.

The repurchase agreements require Residential to maintain various financial and other covenants, including maintaining a minimum adjusted tangible net worth, a maximum ratio of indebtedness to adjusted tangible net worth and specified levels of unrestricted cash as well. In addition, the repurchase agreements contain customary events of default. Residential is restricted by the terms of its repurchase agreements from paying dividends greater than its REIT taxable income in a calendar year.

Residential is currently in compliance with the covenants and other requirements with respect to its repurchase agreements. We monitor Residential's banking partners' ability to perform under the repurchase agreements and have concluded there is currently no reason to doubt that they will continue to perform under the repurchase agreements as contractually obligated.

Commitments and contingencies	6 Months Ended
Commitments and contingencies	Jun. 30, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and Contingencies Litigation, claims and assessments We are not currently the subject of any material legal or regulatory proceedings, and no material legal or regulatory proceedings have been threatened against us.

Related party transactions

6 Months Ended

Jun. 30, 2014

Related party transactions

Our Consolidated Statements of Operations included the following significant related party transactions ($ in thousands):



	Three months ended June 30, 2014		Six months ended June 30, 2014		Counter-party	Consolidated Statements of Operations location
2014
Residential property operating expenses	$	3,169	$	4,219	Altisource	Residential property operating expenses
Mortgage loan servicing costs	14,942		25,432		Ocwen	Mortgage loan servicing costs
Due diligence and unsuccessful deal costs	1,655		1,766		Altisource	Related party general and administrative expenses
Office and occupancy costs	69		143		Ocwen	Related party general and administrative expenses
Salaries and benefits	612		1,129		Altisource/Ocwen	Related party general and administrative expenses
Expense reimbursements	1,999		3,779		Residential/NewSource	Net loss (income) attributable to noncontrolling interest in consolidated affiliate
Management incentive fee	13,715		24,626		Residential	Net loss (income) attributable to noncontrolling interest in consolidated affiliate
	Three months ended June 30, 2013		Six months ended June 30, 2013		Counter-party	Consolidated Statements of Operations location
2013
Mortgage loan servicing costs	$	1,242	$	1,634	Ocwen	Mortgage loan servicing costs
Due diligence and unsuccessful deal costs	—		183		Altisource	Related party general and administrative expenses
Office and occupancy costs	55		79		Ocwen	Related party general and administrative expenses
Expense reimbursements	1,156		2,057		Residential/NewSource	Net loss (income) attributable to noncontrolling interest in consolidated affiliate

During the six months ended June 30, 2013, Residential acquired a portfolio from Ocwen Financial Corporation ("Ocwen") of non-performing first lien residential mortgage loans having aggregate market value of underlying properties of $94 million. The aggregate purchase price for this portfolio was $64 million.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Share-based payments	6 Months Ended
Share-based payments	Jun. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based payments	Share-based payments During the six months ended June 30, 2014 and 2013, we granted 8,765 and 32,197 shares, respectively, of market-based restricted stock to certain members of executive management under our 2012 Equity Incentive Plan with a weighted average grant date fair value per share of $791.27 and $63.98, respectively. Our directors each receive annual grants of restricted stock equal to $45,000 based on the market value of our common stock at the time of the annual stockholders meeting. This restricted stock vests and is issued after a one-year service period subject to each director attending at least 75% of the Board and committee meetings. No dividends are paid on the shares until the award is issued. During the six months ended June 30, 2014 and 2013, we granted 205 and 1,470 shares of stock, respectively, pursuant to our 2013 Director Equity Plan with a weighted average grant date fair value per share of $1,090.26 and $205.27, respectively. We recorded $(0.5) million and $2.7 million of compensation expense related to these grants for the three and six months ended June 30, 2014, respectively, and recorded $1.1 million and $1.3 million for the three and six months ended June 30, 2013, respectively. As of June 30, 2014 and 2013, we had an aggregate $22.3 million and $9.5 million, respectively, of total unrecognized share-based compensation cost to be recognized over a weighted average remaining estimated term of 3.08 years and 3.50 years, respectively.

Income taxes	6 Months Ended
Income taxes	Jun. 30, 2014
Income Taxes [Abstract]
Income taxes	Income taxes We are domiciled in the United States Virgin Islands and under current United States Virgin Islands law are obligated to pay taxes in the United States Virgin Islands on income and/or capital gains. We applied for tax benefits from the United States Virgin Islands Economic Development Commission and received our certificate of benefits, effective as of February 1, 2013. Under the certificate of benefits, so long as we comply with the provisions of the certificate, we will receive a 90% exemption on our income taxes until 2043. From inception to December 31, 2012 we had future taxable income deductions (deferred tax assets) related to initial year expenditures, including the results of operations attributable to noncontrolling interest in consolidated affiliates. Previously, we had recorded a valuation allowance equal to 100% of the resulting gross deferred tax asset; however, due to year-to-date actual activity and forecasted income, management believes it is more likely than not that the majority of the deferred tax asset will be realized and therefore the valuation allowance was substantially eliminated. As of June 30, 2014 and 2013, neither Residential nor we accrued interest or penalties associated with any unrecognized tax benefits, nor was any interest expense or penalty recognized during the six months ended June 30, 2014 and 2013. Residential recorded nominal state and local tax expense on income and property for the three and six months ended June 30, 2014. Our subsidiaries and we remain subject to tax examination for the period from inception to December 31, 2013.

Earnings per share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings per share

The following table sets forth the components of diluted earnings per share (in thousands, except share and per share amounts):



	Three months ended June 30, 2014		Three months ended June 30, 2013			Six months ended June 30, 2014		Six months ended June 30, 2013
Numerator
Net income (loss) attributable to common stockholders	$	13,230	$	(1,499	)	$	20,058	$	(2,339	)

Denominator
Weighted average common stock outstanding – basic	2,255,278		2,343,462			2,310,931		2,343,338
Stock options using treasury method	250,287		—			262,033		—
Restricted stock	169,341		—			176,665		—
Preferred shares if converted	200,000		—			115,556		—
Weighted average common stock outstanding – diluted	2,874,906		2,343,462			2,865,185		2,343,338

Earnings (loss) per basic share	$	5.87	$	(0.64	)	$	8.68	$	(1.00	)
Earnings (loss) per diluted share	$	4.60	$	(0.64	)	$	7.00	$	(1.00	)

Because we incurred a net loss attributable to common stockholders for the three and six months ended June 30, 2013, basic and diluted earnings per share are equivalent for the period. For the three and six months ended June 30, 2013, there were 293,760 stock options and 224,944 units of restricted stock excluded from the calculation of diluted earnings per share because inclusion would have been anti-dilutive.

Segment information	6 Months Ended
Segment information	Jun. 30, 2014
Segment Reporting [Abstract]
Segment information	Segment information Our primary business is to provide asset management and certain corporate governance services to Residential. Residential's primary business is the acquisition and ownership of single-family rental assets. Residential's primary sourcing strategy is to acquire these assets by purchasing sub-performing and non-performing mortgage loans. As a result, we operate in a single segment focused on the management of Residential's resolution of sub-performing and non-performing mortgages with the intent to modify as many loans as possible to keep borrowers in their homes or own the collateral which is suitable as long-term rental properties.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Subsequent events (Notes)	6 Months Ended
Subsequent events (Notes)	Jun. 30, 2014
Subsequent Events [Abstract]
Subsequent events	Subsequent events On July 10, 2014, Residential acquired a portfolio of 46 first lien residential mortgage loans, substantially all of which were non-performing loans in advanced stages of foreclosure, having an aggregate UPB of $7.0 million and an aggregate market value of underlying properties of $5.0 million for an aggregate purchase price of $3.7 million.

Mortgage loans Mortgage Loans (Tables)

6 Months Ended

Jun. 30, 2014

Mortgage Loans on Real Estate [Abstract]

Schedule Of Contractually Required Payments And Cash Flows Expected [Table Text Block]

The following table presents information regarding the estimates of the contractually required payments and the cash flows expected to be collected ($ in thousands):



	June 30, 2014
Contractually required principal and interest	$	325,000
Non-accretable yield	(96,263		)
Expected cash flows to be collected	228,737
Accretable yield	(84,728		)
Fair value at the date of acquisition	$	144,009

Fair value of financial instruments (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Fair value measurements, recurring and nonrecurring



	Level 1		Level 2		Level 3
	Quoted prices in active markets		Observable inputs other than Level 1 prices		Unobservable inputs
June 30, 2014
Recurring basis (assets)
Mortgage loans	$	—	$	—	$	2,024,028
Nonrecurring basis (assets)
Real estate assets held for sale	$	—	$	—	$	28,710
Transfer of real estate owned to mortgage loans	$	—	$	—	$	3,594
Transfer of mortgage loans to real estate owned	$	—	$	—	$	220,971
Not recognized on consolidated balance sheets at fair value (assets)
Mortgage loans held for investment	$	—	$	—	$	144,009
Not recognized on consolidated balance sheets at fair value (liabilities)
Repurchase agreements at fair value	—		$	1,271,483	$	—

December 31, 2013
Recurring basis (assets)
Mortgage loans	$	—	$	—	$	1,207,163
Nonrecurring basis (assets)
Real estate assets held for sale	$	—	$	—	$	1,520
Transfer of mortgage loans to real estate owned	$	—	$	—	$	31,014
Not recognized on consolidated balance sheets at fair value (liabilities)
Repurchase agreements at fair value	$	—	$	602,382	$	—

Fair value, assets measured on recurring basis, unobservable input reconciliation

The following table sets forth the changes in Residential's level 3 assets that are measured at fair value on a recurring basis ($ in thousands):



	Three months ended June 30, 2014			Three months ended June 30, 2013			Six months ended June 30, 2014			Six months ended June 30, 2013
Mortgage loans
Beginning balance	$	1,766,142		$	87,670		$	1,207,163		$	—
Investment in mortgage loans	300,503			79,908			913,011			168,165
Net unrealized gain on mortgage loans	105,042			7,165			170,172			8,293
Net realized gain on mortgage loans	10,819			1,719			20,140			2,106
Mortgage loan dispositions and payments	(44,314		)	(8,699		)	(83,772		)	(10,645		)
Real estate tax advances to borrowers	4,716			—			12,722			—
Transfer of real estate owned to mortgage loans	5,563			—			5,563			—
Transfer of mortgage loans to real estate owned	(124,443		)	(4,243		)	(220,971		)	(4,399		)
Ending balance at June 30	$	2,024,028		$	163,520		$	2,024,028		$	163,520

Net unrealized gain on mortgage loans held	$	70,623		$	7,165		$	108,820		$	8,293

Delinquency by unpaid principal balance



	Number of loans	Carrying Value		Unpaid principal balance		Market value of underlying properties
June 30, 2014
Current	659	$	85,322	$	152,956	$	146,861
30	43	7,100		11,177		11,420
60	32	4,875		7,007		8,117
90	2,312	384,350		635,463		587,819
Foreclosure	9,024	1,542,381		2,465,697		2,097,710
Mortgage loans	12,070	$	2,024,028	$	3,272,300	$	2,851,927
December 31, 2013
Current	238	$	31,649	$	60,051	$	52,506
30	26	2,087		4,492		3,763
60	23	3,376		5,683		4,738
90	1,555	245,024		419,836		355,451
Foreclosure	6,212	925,027		1,609,546		1,310,439
Mortgage Loans	8,054	$	1,207,163	$	2,099,608	$	1,726,897



	Number of loans	Carrying value		Unpaid principal balance		Market value of underlying properties
June 30, 2014
Current	866	$	142,283	$	204,963	$	268,161
30	9	1,374		1,656		2,286
60	3	161		217		239
90	1	191		229		391
Mortgage loans held for investment	879	$	144,009	$	207,065	$	271,077

Fair value measurements, recurring and nonrecurring, valuation techniques

The following table sets forth quantitative information about the significant unobservable inputs used to measure the fair value of Residential's mortgage loans as of June 30, 2014 and December 31, 2013:



Input	June 30, 2014	December 31, 2013
Equity discount rate	15.0%	15.0%
Debt to asset ratio	65.0%	55.0%
Cost of funds	3.5% over 1 month LIBOR	3.5% over 1 month LIBOR
Annual change in home pricing index	-0.2% to 7.6%	-0.3% to 7.6%
Loan resolution probabilities — modification	0% to 22.3%	0% to 22.3%
Loan resolution probabilities — rental	0% to 100.0%	0% to 100.0%
Loan resolution probabilities — liquidation	0% to 100.0%	0% to 100.0%
Loan resolution timelines (in years)	0.1 to 5.3	0.1 - 5.8
Value of underlying properties	$3,000 - $4,100,000	$3,000 - $3,550,000

Repurchase agreements Repurchase agreements (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Schedule of Debt

The following table sets forth data with respect to Residential's repurchase agreements as of June 30, 2014 and December 31, 2013 ($ in thousands):



	Maximum borrowing capacity		Book value of collateral		Amount outstanding
June 30, 2014
Repurchase agreement due April 20, 2015 (1)	$	375,000	$	608,977	$	324,381
Repurchase agreement due March 23, 2015	1,030,000		1,145,345		731,415
Repurchase agreement due March 11, 2016	250,000		405,348		215,687
	$	1,655,000	$	2,159,670	$	1,271,483
December 31, 2013
Repurchase agreement due April 21, 2014	$	100,000	$	166,350	$	85,364
Repurchase agreement due March 23, 2015	400,000		634,234		398,602
Repurchase agreement due March 11, 2016	250,000		205,328		118,416
	$	750,000	$	1,005,912	$	602,382

Related party transactions (Tables)

6 Months Ended

Jun. 30, 2014

Related party transactions

Our Consolidated Statements of Operations included the following significant related party transactions ($ in thousands):



	Three months ended June 30, 2014		Six months ended June 30, 2014		Counter-party	Consolidated Statements of Operations location
2014
Residential property operating expenses	$	3,169	$	4,219	Altisource	Residential property operating expenses
Mortgage loan servicing costs	14,942		25,432		Ocwen	Mortgage loan servicing costs
Due diligence and unsuccessful deal costs	1,655		1,766		Altisource	Related party general and administrative expenses
Office and occupancy costs	69		143		Ocwen	Related party general and administrative expenses
Salaries and benefits	612		1,129		Altisource/Ocwen	Related party general and administrative expenses
Expense reimbursements	1,999		3,779		Residential/NewSource	Net loss (income) attributable to noncontrolling interest in consolidated affiliate
Management incentive fee	13,715		24,626		Residential	Net loss (income) attributable to noncontrolling interest in consolidated affiliate
	Three months ended June 30, 2013		Six months ended June 30, 2013		Counter-party	Consolidated Statements of Operations location
2013
Mortgage loan servicing costs	$	1,242	$	1,634	Ocwen	Mortgage loan servicing costs
Due diligence and unsuccessful deal costs	—		183		Altisource	Related party general and administrative expenses
Office and occupancy costs	55		79		Ocwen	Related party general and administrative expenses
Expense reimbursements	1,156		2,057		Residential/NewSource	Net loss (income) attributable to noncontrolling interest in consolidated affiliate

Organization and basis of presentation (Details) - USD ($)							3 Months Ended	6 Months Ended		15 Months Ended
	Mar. 18, 2014	Jan. 22, 2014	Oct. 17, 2013	Oct. 02, 2013	May 01, 2013	Dec. 21, 2012	Mar. 31, 2014	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2014	Jun. 11, 2014	Apr. 21, 2014	Dec. 31, 2013	Dec. 23, 2013	Sep. 23, 2013	Mar. 22, 2013
Organization and Basis of Presentation [Line Items]
Term of contract						15 years
Secured Debt, Repurchase Agreements								$ 1,271,483,000					$ 602,382,000
Proceeds from Issuance of Common Stock								3,155,000	$ 123,000
Redeemable Convertible Preferred Shares, Shares Issued	250,000
Proceeds from Issuance of Redeemable Convertible Preferred Stock	$ 250,000,000
Stock Repurchase Program, Authorized Amount							$ 300,000,000
Redemption price per share	$ 1,000
Conversion price per share	$ 1,250
Variable Interest Entity, Primary Beneficiary [Member]
Organization and Basis of Presentation [Line Items]
Sale of Stock, Number of Shares Issued in Transaction		14,200,000		17,187,000	17,250,000
Sale of Stock, Price Per Share		$ 34		$ 21	$ 18.75
Proceeds from Issuance of Common Stock		$ 467,600,000		$ 349,400,000	$ 309,500,000					$ 1,100,000,000
Secured debt [Member] \| Variable Interest Entity, Primary Beneficiary [Member]
Organization and Basis of Presentation [Line Items]
Maximum borrowing capacity								1,655,000,000					750,000,000
Secured Debt, Repurchase Agreements								1,300,000,000					602,382,000
Secured debt [Member] \| Master repurchase agreement one [Member] \| Variable Interest Entity, Primary Beneficiary [Member]
Organization and Basis of Presentation [Line Items]
Maximum borrowing capacity								375,000,000			$ 375,000,000	$ 200,000,000	100,000,000			$ 100,000,000
Secured Debt, Repurchase Agreements													85,364,000
Secured debt [Member] \| Master repurchase agreement two [Member] \| Variable Interest Entity, Primary Beneficiary [Member]
Organization and Basis of Presentation [Line Items]
Maximum borrowing capacity								250,000,000					250,000,000
Secured Debt, Repurchase Agreements													118,416,000
Secured debt [Member] \| Master repurchase agreement three [Member] \| Variable Interest Entity, Primary Beneficiary [Member]
Organization and Basis of Presentation [Line Items]
Maximum borrowing capacity								1,030,000,000					400,000,000	$ 400,000,000	$ 200,000,000.0
Secured Debt, Repurchase Agreements								$ 1,271,483,000					$ 398,602,000
Common Stock [Member] \| NewSource Reinsurance Company Ltd. [Member]
Organization and Basis of Presentation [Line Items]
Payments to Acquire Other Investments			$ 2,000,000
Percent Owned Common Stock Of Other Investments			100.00%
Variable Interest Entity, Primary Beneficiary [Member] \| Preferred Stock [Member] \| NewSource Reinsurance Company Ltd. [Member] \| Residential Corporation [Member]
Organization and Basis of Presentation [Line Items]
Payments to Acquire Other Investments			$ 18,000,000

Mortgage loans (Details) $ in Thousands			1 Months Ended	3 Months Ended			6 Months Ended
Mortgage loans (Details) $ in Thousands	Jun. 27, 2014 USD ($) loan	May 01, 2014 USD ($) loan	Mar. 31, 2014 loan	Jun. 30, 2014 USD ($) loan	Mar. 31, 2014 USD ($)	Jun. 30, 2013 USD ($) loan	Jun. 30, 2014 loan	Jun. 30, 2014 property	Jun. 30, 2014 USD ($)	Jun. 30, 2013 USD ($) loan property
Mortgage loans [Line Items]
Market value of underlying properties collateralizing loans held for investment to be acquired									$ 327,900
Number of loans held for investment acquired \| loan	879
Market value of underlying properties collateralizing loans held for investment acquired	$ 271,100
Purchase price of loans held for investment acquired	$ 144,600
Number of loans to be acquired \| loan			915	3,269
Market value of underlying properties collateralizing loans to be acquired				$ 900,300
Number of loans acquired \| loan	1,116						5,797
Number of real estate properties directly acquired							190	190		6
Unpaid principal balance of loans and real estate acquired									1,600,000
Purchase price of loans acquired	$ 235,000								1,056,493	$ 168,165
Number of loans and real estate properties acquired \| loan		664
Market value of underlying properties collateralizing loans and real estate acquired		$ 126,600							1,400,000
Purchase price of loans and real estate acquired		$ 92,700							940,500
Number of loans held for investment to be acquired \| loan							1,105
Number of real estate properties acquired through foreclosure \| loan				907		33	1,544			34
Transfer of mortgage loans to real estate owned				$ 124,400		$ 4,200			220,971	$ 4,399
Number of mortgage loans liquidated \| loan				135		28	251			38
Net realized gain on mortgage loans				$ 10,819		$ 1,719			20,140	$ 2,106
Loans receivable [Member] \| Residential mortgage [Member]
Mortgage loans [Line Items]
Market value of underlying properties collateralizing loans acquired	$ 375,300
Due diligence costs				$ 2,400		100			$ 2,900	$ 400
Loans receivable [Member] \| Residential mortgage [Member] \| Mortgage loans on real estate, Pool one [Member]
Mortgage loans [Line Items]
Market value of underlying properties collateralizing loans acquired					$ 94,000
Loans receivable [Member] \| Residential mortgage [Member] \| Mortgage loans on real estate, Pool two [Member]
Mortgage loans [Line Items]
Market value of underlying properties collateralizing loans acquired					$ 39,000
Loans receivable [Member] \| Residential mortgage [Member] \| Mortgage Loans on Real Estate, Pool three [Member]
Mortgage loans [Line Items]
Market value of underlying properties collateralizing loans acquired						$ 122,000

Mortgage loans Acquisition for Loans Held for Investment (Details) $ in Thousands	Jun. 30, 2014 USD ($)
Mortgage Loans on Real Estate [Abstract]
Contractually required principal and interest	$ 325,000
Non-accretable yield	(96,263)
Expected cash flows to be collected	228,737
Accretable yield	(84,728)
Fair value at the date of acquisition	$ 144,009

Real estate assets, net (Details) $ in Thousands	3 Months Ended	6 Months Ended
Real estate assets, net (Details) $ in Thousands	Jun. 30, 2014 USD ($) property	Jun. 30, 2014 USD ($) loan property	Jun. 30, 2014 USD ($) property	Jun. 30, 2014 USD ($) property	Jun. 30, 2013 USD ($) property	Mar. 31, 2014 property	Dec. 31, 2013 USD ($) property
Real Estate [Abstract]
Number of real estate properties under evaluation for rental portfolio						1,484	203
Number of real estate properties listed for rent						40	11
Number of real estate properties in various stages of lease preparation						140	18
Number of real estate properties directly acquired		190	190		6
Real estate directly acquired \| $				$ 27,569	$ 278
Number of real estate properties held for sale	192	192	192	192	8		16
Real estate assets held for sale (from consolidated VIE) \| $	$ 27,572	$ 27,572	$ 27,572	$ 27,572	$ 900		$ 1,186
Number of real estate properties held for use					40	1,766	246
Number of real estate properties rented						102	14
Number of real estate properties sold	22		24

Fair value of financial instruments - Fair value, assets and liabilities measured on recurring and nonrecurring basis (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfer of mortgage loans to real estate owned	$ 124,400	$ 4,200	$ 220,971	$ 4,399
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for investment	0		0
Repurchase agreements at fair value	0		0		$ 0
Fair value, inputs, level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for investment	0		0
Repurchase agreements at fair value	1,271,483		1,271,483		602,382
Fair value, inputs, level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans held for investment	144,009		144,009
Repurchase agreements at fair value	0		0		0
Fair value measurements, recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	0		0		0
Fair value measurements, recurring [Member] \| Fair value, inputs, level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	0		0		0
Fair value measurements, recurring [Member] \| Fair value, inputs, level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Mortgage loans	2,024,028		2,024,028		1,207,163
Fair value measurements, nonrecurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate assets held for sale	0		0		0
Transfer of real estate owned to mortgage loans			0
Transfer of mortgage loans to real estate owned			0		0
Fair value measurements, nonrecurring [Member] \| Fair value, inputs, level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate assets held for sale	0		0		0
Transfer of real estate owned to mortgage loans			0
Transfer of mortgage loans to real estate owned			0		0
Fair value measurements, nonrecurring [Member] \| Fair value, inputs, level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate assets held for sale	$ 28,710		28,710		1,520
Transfer of real estate owned to mortgage loans			3,594
Transfer of mortgage loans to real estate owned			$ 220,971		$ 31,014

Fair value of financial instruments - Fair value, assets measure on recurring basis, unobservable inputs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Fair value, assets measured on recurring basis, unobservable input reconciliation [Line Items]
Mortgage Loans on Real Estate, Commercial and Consumer, Net	$ 2,024,028		$ 2,024,028		$ 1,207,163
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Transfer of real estate owned to mortgage loans			3,594	$ 0
Residential mortgage [Member] \| Fair value, inputs, level 3 [Member] \| Loans receivable [Member]
Fair value, assets measured on recurring basis, unobservable input reconciliation [Line Items]
Net unrealized gain on mortgage loans held	70,623	$ 7,165	108,820	8,293
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,766,142	87,670	1,207,163	0
Investment in mortgage loans	300,503	79,908	913,011	168,165
Net unrealized gain on mortgage loans	105,042	7,165	170,172	8,293
Net realized gain on mortgage loans	10,819	1,719	20,140	2,106
Mortgage loan dispositions and payments	(44,314)	(8,699)	(83,772)	(10,645)
Real estate tax advances to borrowers	4,716	0	12,722	0
Transfer of real estate owned to mortgage loans	5,563	0	5,563	0
Transfer of mortgage loans to real estate owned	(124,443)	(4,243)	(220,971)	(4,399)
Ending balance at June 30	$ 2,024,028	$ 163,520	$ 2,024,028	$ 163,520

Fair value of financial instruments - Fair value by delinquency (Details) - Residential portfolio segment [Member] - Loans receivable [Member] - Residential mortgage [Member] - Performing Financing Receivable [Member] $ in Thousands	Jun. 30, 2014 USD ($) loan	Dec. 31, 2013 USD ($) loan
Number of loans
Current \| loan	866
30 \| loan	9
60 \| loan	3
90 \| loan	1
Mortgage Loans \| loan	879
Carrying Value
Current	$ 142,283
30	1,374
60	161
90	191
Mortgage loans	144,009
Unpaid principal balance
Current	204,963
30	1,656
60	217
90	229
Mortgage loans	207,065
Market value of underlying properties
Current	268,161
30	2,286
60	239
90	391
Mortgage loans	$ 271,077
Current \| loan	659	238
30 \| loan	43	26
60 \| loan	32	23
90 \| loan	2,312	1,555
Foreclosure \| loan	9,024	6,212
Mortgage Loans \| loan	12,070	8,054
Current	$ 85,322	$ 31,649
30	7,100	2,087
60	4,875	3,376
90	384,350	245,024
Foreclosure	1,542,381	925,027
Mortgage loans	2,024,028	1,207,163
Current	152,956	60,051
30	11,177	4,492
60	7,007	5,683
90	635,463	419,836
Foreclosure	2,465,697	1,609,546
Mortgage loans	3,272,300	2,099,608
Current	146,861	52,506
30	11,420	3,763
60	8,117	4,738
90	587,819	355,451
Foreclosure	2,097,710	1,310,439
Mortgage loans	$ 2,851,927	$ 1,726,897

Fair value of financial instruments - Fair value inputs, quantitative information (Details) - Residential mortgage [Member] - Loans receivable [Member] - Fair value, inputs, level 3 [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Fair value inputs, assets, quantitative information [Line Items]
Equity discount rate	15.00%	15.00%
Fair Value Inputs, Debt to Asset Ratio	65.00%	55.00%
Fair Value Inputs, Interest Rate Over the Reference Rate	3.50%	3.50%
Fair Value Inputs, Reference Rate	1 month LIBOR	1 month LIBOR
Minimum [Member]
Fair value inputs, assets, quantitative information [Line Items]
Annual change in home pricing index	(0.20%)	(0.30%)
Loan resolution probabilities — modification	0.00%	0.00%
Loan resolution probabilities — rental	0.00%	0.00%
Loan resolution probabilities — liquidation	0.00%	0.00%
Loan resolution timelines (in years)	1 month	1 month
Value of underlying properties	$ 3,000	$ 3,000
Maximum [Member]
Fair value inputs, assets, quantitative information [Line Items]
Annual change in home pricing index	7.60%	7.60%
Loan resolution probabilities — modification	22.30%	22.30%
Loan resolution probabilities — rental	100.00%	100.00%
Loan resolution probabilities — liquidation	100.00%	100.00%
Loan resolution timelines (in years)	5 years 4 months	5 years 10 months
Value of underlying properties	$ 4,100,000	$ 3,550,000

Repurchase agreements (Details) - USD ($)	Jun. 30, 2014	Jun. 11, 2014	Apr. 21, 2014	Dec. 31, 2013	Dec. 23, 2013	Sep. 23, 2013	Mar. 22, 2013
Debt [Line Items]
Secured Debt, Repurchase Agreements	$ 1,271,483,000			$ 602,382,000
Secured debt [Member]
Debt [Line Items]
Interest rate	3.03%
Master repurchase agreement one [Member] \| Secured debt [Member]
Debt [Line Items]
Book value of collateral	$ 608,977,000
Master repurchase agreement three [Member] \| Secured debt [Member]
Debt [Line Items]
Book value of collateral	1,145,345,000
Master repurchase agreement two [Member] \| Secured debt [Member]
Debt [Line Items]
Book value of collateral	405,348,000
Variable Interest Entity, Primary Beneficiary [Member] \| Secured debt [Member]
Debt [Line Items]
Maximum borrowing capacity	1,655,000,000			750,000,000
Book value of collateral	2,159,670,000			1,005,912,000
Secured Debt, Repurchase Agreements	1,300,000,000			602,382,000
Variable Interest Entity, Primary Beneficiary [Member] \| Master repurchase agreement one [Member] \| Secured debt [Member]
Debt [Line Items]
Maximum borrowing capacity	375,000,000	$ 375,000,000	$ 200,000,000	100,000,000			$ 100,000,000
Book value of collateral				166,350,000
Secured Debt, Repurchase Agreements				85,364,000
Variable Interest Entity, Primary Beneficiary [Member] \| Credit Suisse Repurchase Agreement [Member] \| Secured debt [Member]
Debt [Line Items]
Secured Debt, Repurchase Agreements	324,381,000
Variable Interest Entity, Primary Beneficiary [Member] \| Master repurchase agreement three [Member] \| Secured debt [Member]
Debt [Line Items]
Maximum borrowing capacity	1,030,000,000			400,000,000	$ 400,000,000	$ 200,000,000.0
Book value of collateral				634,234,000
Secured Debt, Repurchase Agreements	1,271,483,000			398,602,000
Variable Interest Entity, Primary Beneficiary [Member] \| Wells Fargo Repurchase Agreement [Member] \| Secured debt [Member]
Debt [Line Items]
Secured Debt, Repurchase Agreements	731,415,000
Variable Interest Entity, Primary Beneficiary [Member] \| Master repurchase agreement two [Member] \| Secured debt [Member]
Debt [Line Items]
Maximum borrowing capacity	250,000,000			250,000,000
Book value of collateral				205,328,000
Secured Debt, Repurchase Agreements				$ 118,416,000
Variable Interest Entity, Primary Beneficiary [Member] \| Deutche Bank Repurchase Agreement [Member] \| Secured debt [Member]
Debt [Line Items]
Secured Debt, Repurchase Agreements	$ 215,687,000

Related party transactions (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2014	Jun. 30, 2013
Related party transaction [Line Items]
Loans acquired from related party, aggregate purchase price			$ 64,000
Affiliated entity [Member] \| Altisource Residential Corporation [Member] \| Net loss (income) attributable to noncontrolling interest in consolidated affiliate \| Expense reimbursements
Related party transaction [Line Items]
Related party expenses	$ 1,999	$ 1,156		$ 3,779	$ 2,057
Affiliated entity [Member] \| Altisource Residential Corporation [Member] \| Net loss (income) attributable to noncontrolling interest in consolidated affiliate \| Management incentive fee
Related party transaction [Line Items]
Related party expenses	13,715			24,626
Affiliated entity [Member] \| Altisource [Member] \| Residential property operating expenses \| Residential property operating expenses
Related party transaction [Line Items]
Related party expenses	3,169			4,219
Affiliated entity [Member] \| Altisource [Member] \| Related party general and administrative expenses \| Due diligence and unsuccessful deal costs
Related party transaction [Line Items]
Related party expenses	1,655	0		1,766	183
Affiliated entity [Member] \| Ocwen [Member] \| Residential property operating expenses \| Mortgage loan servicing costs
Related party transaction [Line Items]
Related party expenses	14,942	1,242		25,432
Affiliated entity [Member] \| Ocwen [Member] \| Mortgage loan servicing costs \| Mortgage loan servicing costs
Related party transaction [Line Items]
Related party expenses					1,634
Affiliated entity [Member] \| Ocwen [Member] \| Related party general and administrative expenses \| Office and occupancy costs
Related party transaction [Line Items]
Related party expenses	69	$ 55		143	$ 79
Affiliated entity [Member] \| Ocwen [Member] \| Related party general and administrative expenses \| Salaries and benefits [Member]
Related party transaction [Line Items]
Related party expenses	$ 612			$ 1,129
Mortgage loans on real estate, Pool one [Member] \| Loans receivable [Member] \| Residential mortgage [Member] \| Ocwen [Member] \| Acquisition of nonperforming loans [Member]
Related party transaction [Line Items]
Loans acquired from related party, aggregate collateral fair value			$ 94,000

Share-based payments (Details) - USD ($)	3 Months Ended			6 Months Ended		12 Months Ended
Share-based payments (Details) - USD ($)	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	May 31, 2014	Dec. 31, 2013	Mar. 31, 2014
Share-based compensation arrangement by share-based payment award [Line Items]
Value of restricted stock granted to directors annually							$ 45,000
Restricted Stock Service Period						1 year
Share-based compensation expense	$ (500,000)			$ 2,735,000
Share-based compensation		$ 1,080,000		$ 2,848,000	$ 1,294,000
Unamortized stock compensation			$ 9,500,000					$ 22,300,000
Weighted average remaining amortization period of unamortized share based compensation				3 years 1 month	3 years 6 months
Market based restricted stock [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Shares of restricted stock granted				8,765	32,197
Weighted average grant date fair value of market based restricted stock granted			$ 63.98	$ 791.27
Time based restricted stock [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Shares of restricted stock granted				205	1,470
Weighted average grant date fair value of market based restricted stock granted				$ 1,090.26	$ 205.27
Subsequent Event [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Director Attendance Requirement						75.00%
Additional Paid-in Capital [Member]
Share-based compensation arrangement by share-based payment award [Line Items]
Share-based compensation	$ 2,735,000	$ 1,294,000

Income taxes (Details)	6 Months Ended
Income taxes (Details)	Jun. 30, 2014	Dec. 31, 2013
Income Taxes [Abstract]
Income Tax Exemption	90.00%
valuation allowance percentage		100.00%

Earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Mar. 31, 2013	Jun. 30, 2014	Jun. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss) attributable to common stockholders	$ 13,230	$ (1,499)		$ 20,058	$ (2,339)
Weighted average common stock outstanding – basic	2,255,278	2,343,462		2,310,931	2,343,338
Stock options using treasury method	250,287	0		262,033	0
Restricted stock	169,341	0		176,665	0
Preferred shares if converted	200,000	0		115,556	0
Weighted average common stock outstanding – diluted	2,874,906	2,343,462		2,865,185	2,343,338
Earnings (loss) per basic share	$ 5.87	$ (0.64)		$ 8.68	$ (1.00)
Earnings (loss) per diluted share	$ 4.60	$ (0.64)		$ 7.00	$ (1.00)
Stock options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS calculation			293,760
Restricted stock units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from EPS calculation			224,944

Subsequent events (Details) $ in Thousands			3 Months Ended	6 Months Ended
Subsequent events (Details) $ in Thousands	Jul. 10, 2014 USD ($) loan	Jun. 27, 2014 USD ($) loan	Jun. 30, 2013 USD ($)	Jun. 30, 2014 USD ($) loan	Jun. 30, 2013 USD ($)
Subsequent Event [Line Items]
Number of loans acquired \| loan		1,116		5,797
Purchase price of loans acquired		$ 235,000		$ 1,056,493	$ 168,165
Residential mortgage [Member] \| Loans receivable [Member]
Subsequent Event [Line Items]
Market value of underlying properties collateralizing loans acquired		$ 375,300
Residential mortgage [Member] \| Mortgage Loans on Real Estate, Pool three [Member] \| Loans receivable [Member]
Subsequent Event [Line Items]
Market value of underlying properties collateralizing loans acquired			$ 122,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of loans acquired \| loan	46
Purchase price of loans acquired	$ 3,700
Subsequent Event [Member] \| Residential mortgage [Member] \| Loans receivable [Member]
Subsequent Event [Line Items]
Loans Receivable, Acquired in Period, Unpaid Principal Balance	7,000
Market value of underlying properties collateralizing loans acquired	$ 5,000