Newrez LLC (“Newrez” or “the company”) is an indirect, wholly-owned, mortgage operating subsidiary of the diversified residential mortgage company and investment manager, Rithm Capital Corp. (NYSE: RITM; “Rithm” or “the parent company”). Since July 2018, when Rithm (then New Residential Investment Corp.) acquired Newrez predecessor, Shellpoint Partners LLC (“Shellpoint”), – marking the parent company’s initial mortgage operating company investment – the originator / servicer has grown significantly to rank among the largest in the industry.
Newrez’s multiyear growth – owned servicing, subservicing and reported equity – has benefited from Rithm acquisitions; noting that GSE servicing transfers / sales to an affiliate have limited growth in Newrez’s owned book, as the company has been positioned as Rithm’s sole GNMA seller / servicer, and, therefore, only government MSR owner.…
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