nrz - NRZ STOCK NEWS

New Residential Investment Corp. (NYSE: NRZ) announced an increase in its common stock dividend to $0.20 per share for Q4 2020, a 33% rise from Q3 2020. This dividend reflects the Company's strong financial position and commitment to shareholder value. The dividend is payable on January 29, 2021, to shareholders recorded on December 31, 2020. Additionally, preferred stock dividends were declared: Series A at $0.46875, Series B at $0.4453125, and Series C at $0.3984375, payable on February 12, 2021. Since its inception, New Residential has delivered over $3.4 billion in dividends to shareholders.

NewRez has exceeded its charitable donation goal of $1 million in just one month, primarily through its "You Save, We Give" program benefiting Toys for Tots. This initiative, which links loan locks to donations, contributed significantly to their overall giving. As of now, NewRez has supported over 750 nonprofits through employee donations and company-matched funds. CEO Bruce Williams expressed pride in the employees' efforts during challenging times. NewRez, a national mortgage lender, continues to focus on community investment and support for various charities nationwide.

NewRez LLC has partnered with The Menkiti Group to launch Mission Mortgage LLC, a joint venture focusing on residential mortgage lending in Washington, DC, Maryland, and Virginia. Headed by industry veteran Tom O’Keefe, this venture marks NewRez's 19th partnership within its Shelter Mortgage Company division. Mission Mortgage aims to enhance community access to homeownership while promoting social impact through charitable donations linked to each closed loan. The partnership highlights both companies' commitment to community transformation and service excellence.

New Residential Investment Corp. (NYSE: NRZ) announced that its affiliate, NewRez LLC, has confidentially filed a draft registration statement on Form S-1 with the SEC for a proposed initial public offering (IPO) of NewRez's common stock. The exact number of shares and pricing for the IPO are not yet determined. The offering is expected to occur post-SEC review, contingent on market conditions.

This announcement does not represent an offer to sell or buy any securities, as it adheres to the registration requirements of the Securities Act of 1933.

NewRez LLC announced a charitable donation goal of $1 million by the end of 2020 through its NewRez NOW Community Investment Program. This initiative includes employee contributions, company-matched donations, and the 'You Save, We Give' campaign, where NewRez donates to Toys for Tots for every loan locked in November. With over 350 charities supported this year, the program aims to enhance community health and vibrancy. NewRez emphasizes its commitment to philanthropy and community investment as part of its corporate mission.

New Residential Investment Corp. (NYSE: NRZ) announced the authorization of a repurchase program for up to $100 million of its preferred stock, which includes its 7.500% Series A, 7.125% Series B, and 6.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stocks. The program is set to run through December 31, 2021. Additionally, the Company has begun purchasing its common stock in the open market. The timing and amount of repurchases will depend on various factors, including market conditions and the Company’s performance.

NewRez has appointed Bob Johnson as Chief Operating Officer of its Origination Division. Johnson, who has been with NewRez for eight years and previously served as Executive Vice President of Capital Markets, will oversee several key areas including Loan Processing, Underwriting, and Risk Management. His deep industry knowledge is expected to enhance NewRez's operations and market position, driving the company towards its next growth phase. Under his leadership, NewRez aims to surpass customer expectations in the mortgage lending sector.

New Residential Investment Corp. (NYSE: NRZ) reported strong financial results for Q3 2020, with a GAAP net income of $77.9 million ($0.19 per diluted share) and core earnings of $131.6 million ($0.31 per diluted share). The company increased its common dividend to $0.15 per share, totaling $62.4 million. The origination segment saw a 72% increase in pre-tax income, while the servicing segment experienced a 24% increase. As of September 30, 2020, New Residential held $841.0 million in cash and reported a book value of $10.86 per share, reflecting a robust performance despite a challenging environment.

NewRez LLC announced significant hiring plans for its Jacksonville office, aiming to more than double its workforce to over 100 positions. This expansion supports mortgage operations and signifies the company’s commitment to growth in the mortgage industry. NewRez provides extensive training programs for aspiring sales candidates. The Jacksonville location is positioned as a major operational hub, easily accessible for potential employees. With a strong history and a broad range of mortgage products, NewRez continues to enhance its presence in the market.