New Residential Investment is a holding company. Through its subsidiaries, Co. is a real estate investment trust mainly focused on investing in, and managing investments related to residential real estate. Co. is externally managed and advised by an affiliate of Fortress Investment Group LLC. Co.'s portfolio is composed of mortgage servicing and origination related assets, residential securities (and associated call rights) and loans and other investments. A mortgage servicing right provides a mortgage servicer with the right to service a pool of residential mortgage loans in exchange for a portion of the interest payments made on the underlying residential mortgage loans.