The US housing market is on the rise again. In fact, the US housing market is worth over $20 trillion dollars right now. Are you interested in investing? Or simply learning more about investing? In the world of media and financial services, you may hear a lot of names thrown around these days. What about New Residential Investment Corp? Have you ever heard of this company? Maybe you’ve heard the name and you’re curious to know more about what it is they do. Today, we will explore a little bit about this trust.New Residential Investment Corp is a real estate investment trust based out of New York, New York.
And while they were originally founded as part of Newcastle Investment Corp in 2011, they became their own independent trust in 2013. But what does New Residential Investment Corp do for their clients?This company mainly works with investments that are based in the real estate industry. But their main objectives are to drive growth that will help bring higher returns back to their clients and shareholders. They go into detail on their site about the state of the American real estate market in recent years, and what they do differently than other companies to best serve their shareholders.
One of their main focuses is investments in excess mortgage servicing rights. And in 2018, New Residential Investment Corp acquired Shellpoint for $190 million. Shellpoint Mortgage Servicing, which was founded in 2010, is owned in part by Ranieri Partners. Representatives from New Residential says, Housing Wire that they believed the Shellpoint acquisition would create a tremendous amount of optionality for New Residential clients. The current CEO of New Residential Investment Corp is Michael Nierenberg. He also serves as board chairman and president of the company. Nierenberg has been the CEO since 2013.
Sources of the article: https://www.linkedin.com/company/new-residential-investment-corp-/about/