Newcastle Investment Corp. (Newcastle), is a real estate investment and finance company. Newcastle invests in, and actively manages, a portfolio of, real estate securities, loans, excess mortgage servicing rights (MSRs) and other real estate related assets. The Company segments include investments financed with non-recourse collateralized debt obligations; unlevered investments in deconsolidated Newcastle CDO debt, unlevered Excess MSRs, investments in senior living assets financed with non-recourse debt, investments financed with other non-recourse debt, investments and debt repurchases financed with recourse debt, investments and debt repurchases financed with recourse debt, other unlevered investments and corporate. On May 15, 2013, the Company announced the spin-off of New Residential Investment Corp. In June 2013, Newcastle Investment Corp completed the sale of 100% of the assets in Newcastle CDO IV.