New Residential Investment Corporation is headquartered in New York city. The investment company is a public real estate investment company. Michael B Nierenberg is the CEO and a board member of Residential Investment Corporation. On September 26, 2011, Residential Investment began as a branch of Fortress Investment Corp. On May 15, 2013, New Residential became a subsidiary of Newcastle Investment Corporation. New Residential is worth $1.2 billion in revenues. The company employs 11 to 50 people. New Residential is in competition with Altisource, JRW Investments, and Real Capital Analytics. New Residential is planning to spend $12.3 million on IT services.
New Residential Investment Corp is dedicated to provide strong, risk-adjusted returns. The attractive returns should drive strong dividends for shareholders. On January 29, one share of New Residential Investment’s stock is worth $16.78 on the New York stock exchange. The stock code for Residential Investment is NRZ. In 2012, NRZ was part of Newcastle when the stock was first conceived.
Over the past several decades, the complexity of the residential market has increased dramatically. New Residential targets assets generating stable, long term cash flows that will generate conservative returns throughout different interest enviornments.
One of the New Residential Investment took place November 29, 2017, when the investment company acquired Shellpoint Partners for $190 million. Shellpoint is approved to sell investment products like Fannie Mae, Ginnie Mae, and Freddie Mac investments. Shellpoint has a serving portfolio that is worth $50 million. Shellpoint Investments is a great addition to New Residential Investments.
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