Item 8.01. Other Events.

As we previously disclosed, as of May 6, 2009, Newcastle Investment Corp. (the "Company") had an outstanding recourse funding commitment with respect to a commercial construction loan (the "Loan") of $37.9 million (excluding $13.9 million of commitments owned by our CDOs). The aggregate funding commitments of the Company and all funding commitments owned by our CDOs with respect to the Loan are referred to herein as the "Future Funding Commitments."

Effective June 30, 2009, the Company entered into an agreement with the other parties to the Loan, pursuant to which all Future Funding Commitments - including both the commitments of the Company and our CDOs - were permanently terminated. As a result, as of June 30, 2009, the Company and its CDOs do not have any Future Funding Commitments with respect to this Loan.

This Current Report is being furnished and shall not be deemed to be filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be incorporated by reference into any of the Company's filings under the Securities Act of 1933, as amended, or the Exchange Act, unless expressly set forth as being incorporated by reference into such filing.

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