The spinoff of New Residential from Newcastle (NCT +1.8%) by quarter's end is on track, says...

|About: Newcastle Investment Corp. (NCT)|By:, SA News Editor

The spinoff of New Residential from Newcastle (NCT +1.8%) by quarter's end is on track, says Chairman Wes Edens on the earnings call (transcript). One "actionable" idea for 2013 from Edens: The non-performing loan market - "This could be the year where a lot of that does break loose .. the (GSEs) own many hundreds of billions." With nearly $300M to invest after the last capital raise, NCT has the funds to be a player.