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Slide #23. New Residential Investment Corp. — Servicing advances from Nationstar Mortgage LLC
Acquirer:
New Residential Investment Corp. (NRZ)
Acquiree:
Servicing advances from Nationstar Mortgage LLC
Details:
New Residential Investment Corp. (NYSE:NRZ,theCompany) announced today that the Company and other third-party co-investors (collectively, "Buyer") agreed to acquire approximately $3.2 billion of servicing advances from Nationstar Mortgage LLC ("Nationstar"). The advances relate to non-Agency residential mortgage loans with an unpaid principal balance of approximately $58 billion.
New Residential Investment is a holding company. Through its subsidiaries, Co. is an investment manager with a vertically integrated mortgage platform. Co.'s portfolio is comprised of mortgage servicing rights (MSRs), a mortgage origination and servicing company, related ancillary mortgage services businesses, residential mortgage-backed securities and loans, consumer loans, and other investments. Co. is externally managed and advised by an affiliate of Fortress Investment Group LLC. Co. conducts its business in five segments: Origination, Servicing, MSR Related Investments, Residential Loans and Consumer Loans.
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Buy (2.75 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
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