New Residential Investment Corp was originally an owned subsidiary of Newcastle Investment Corp. Then on May 15, 2013, they were spun off as its own publicly-traded company. Though they are their own company, they are managed externally by Fortress Investment Group.
New Residential Investment Corp is a real estate investment trust that invests and manages investments mostly related to residential real estate. Through investments in Excess Mortgage Servicing Rights, Servicer Advances, non-Agency residential mortgage-backed and associated call rights they strive for strong risk-adjusted returns. New Residential Investment Corp’s main objective is to take their investment expertise, turn it into attractive returns that will grow reliable dividends to their shareholders. The assets they target are stable enough to generate long term cash flows to generate returns of varying interest rates.
New Residential Investment Corp owes its success to the expertise decades of experience in the field of its top executives. The Independent Directors that have been with the company since its beginning are Kevin Finnerty, Douglas Jacobs, David Saltzman, and Alan Tyson. In 2015 Jonathan Brown became their Chief Accounting Officer and Nicola Santoro became their Chief Financial Officer and Treasurer. In 2016 Michael Nierenberg became their Chairman of the Board, President, and Chief Executive Officer.
Michael Nierenberg’s: Twitter.