Items Tagged with 'New Residential Investment Corp.'

ARTICLES

  • New Residential completes $190M acquisition of Lewis Ranieri’s Shellpoint Partners

    Shellpoint is the parent company of New Penn Financial and others
    New Residential Investment Corp.’s acquisition of Shellpoint Partners, a mortgage vehicle that is owned in part by Lewis Ranieri’s Ranieri Partners, is now complete. The companies announced this week that the $190 million deal, which was first announced in November 2017, is now finalized.
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  • New Penn Financial acquiring Envoy Mortgage’s correspondent lending division

    New Penn continues growth
    New Penn Financial’s growth in the wake of its parent company being acquired by New Residential Investment Corp. is set to continue, as the lender announced Monday that it is acquiring the correspondent lending division of Envoy Mortgage. Late last year, New Residential announced that it planned to acquire Shellpoint Partners, which owns New Penn, in a $190 million deal.
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  • The Ocwen connection: New Residential, Altisource Portfolio Solutions ink REO agreement

    Altisource will provide marketing, listing services for REOs included in Ocwen MSRs
    Over the last few months, New Residential Investment significantly increased its mortgage servicing rights portfolio through a deal with Ocwen Financial. But that’s not the only new connection between Ocwen and New Residential, as a company that has a close relationship with Ocwen just inked a new deal with New Residential – Altisource Portfolio Solutions.
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  • Fortress acquires Colony American Finance

    Colony American will now operate as CoreVest American Finance Lender
    Fortress Investment Group is about to be acquired by SoftBank Group in a $3.3 billion deal, but Fortress isn’t done making its own acquisitions while that deal works its way through the legal process. Fortress announced Tuesday that it is acquired Colony American Finance, a lender that provides financing for real estate investors who want to purchase single-family rental homes, townhomes, condos, and small multifamily properties.
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  • Fitch: Here's the impact of Ocwen's massive MSR deal with New Residential

    Sale would be for approximately 80% of Ocwen's non-agency RMBS portfolio
    Ocwen Financial may be facing serious allegations from the CFPB and a hefty group of state regulators about the company’s mortgage servicing practices, but that isn’t stopping New Residential Investment Corp. from contracting Ocwen to subservice a huge portfolio of loans. According to a new report from Fitch Ratings, that deal will not have an impact on Ocwen’s servicer ratings. But, as Fitch notes, the deal will certainly have an serious impact on Ocwen’s servicing portfolio.
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  • Walter Capital Opportunity Corp. selling $10 billion MSR portfolio to New Residential

    Sale expected to generate $90 million for Walter Investment Management Corp.
    Last week, after Walter Investment Management Corp. reported its third straight quartely loss, CEO Anthony Renzi said he believes the company is on the right track in an effort to return to profitability. On Wednesday, the company announced a move that will indeed generate cash for the company, enough to nearly wipe out its entire third quarterly loss.
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  • New Residential to repay $2.5B in mortgage servicer advances

    S&P downgrades Ocwen, triggers repayment
    Citing an “inadvertent” oversight in a previous downgrade of Ocwen Loan Servicing servicer rankings, Standard & Poor’s announced earlier this week that it was lowering its ranking of Ocwen as a residential mortgage master servicer from “above average” to “below average.” And that move triggered a massive payback from New Residential.
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