New Residential Investment Corp. Going Strong 8 Years Down the Line
New Residential Investment Corp. is a New York-based public real estate investment trust focused on investing in the U.S. residential housing sector. Founded in 2011, the company’s segments include investments in mortgage servicing rights (MSRs), investments in excess mortgage servicing rights (Excess MSRs), investments in service advances, investments in residential mortgage loans, investments in real estate securities, investments in consumer loans, as well as corporate. It has an extensive portfolio which is made up of residential mortgage backed securities, mortgage servicing related assets, residential mortgage loans and many other investments.
In servicing related assets, the company invests in MSRs, Excess MSRs as well as servicer advances. Its acquisition of servicer advances includes basic fee component of the related MSR rights. Headed by Michael Nierenberg, New Residential Investment Corp.’s investment portfolio is very extensive. Apart from investing in agency RMBS and non-agency RMBS, the company also invests in various announced forward contract positions.
In the aftermath of United States financial crisis, there a lot of developments going in the U.S. residential housing market increasing complexities in the sector. The developments are changing how mortgages are originated, owned and serviced. These transformations have continued to increase investment opportunities in the residential housing market. New Residential Investment Corp. is leveraging its capabilities to take advantage of the opportunities and continue growing.
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