nrz - NRZ STOCK NEWS

New Residential Investment Corp. (NYSE:NRZ) is set to release its second quarter 2022 financial results on August 2, 2022, before NYSE opening. Additionally, the company will officially change its name to Rithm Capital Corp. (NYSE:RITM) and its ticker symbol to 'RITM' on the same day. The conference call for stakeholders will occur at 8:00 A.M. Eastern Time, with a webcast available for public listening. New Residential has paid out approximately $4.1 billion in dividends since its inception in 2013 and maintains a diverse investment portfolio.

New Residential Investment Corp. (NYSE: NRZ) has announced its management internalization and plans to rebrand as Rithm Capital Corp. (NYSE: RITM). The internalization will conclude an external management agreement and is expected to save the company between $60 million and $65 million annually, equating to $0.12 to $0.13 per diluted share. A quarterly dividend of $0.25 per common share was declared, payable on July 29, 2022. Preferred stock dividends were also announced and will be paid on August 15, 2022.

Newrez LLC has announced its first professional golf partnership with Kyle Westmoreland, a U.S. Air Force veteran. Westmoreland will display the Newrez logo on his golf attire while competing on the Korn Ferry Tour. This partnership reflects Newrez's commitment to supporting military members and veterans. The company is actively involved in various initiatives including military lending education and community investment programs. Westmoreland aims to promote a positive impact through golf, participating in several Korn Ferry Tour events this summer.

Newrez LLC, a mortgage lending and servicing organization based in Fort Washington, Pennsylvania, focuses on helping non-traditional borrowers achieve homeownership through its Smart Series Non-QM loan products. These offerings recently surpassed $1.3 billion in funding, driven by demand in a competitive housing market. The Smart Series includes three products tailored for different borrower needs: SmartSelf for self-employed individuals, SmartEdge for those with past credit issues, and SmartVest for real estate investors. Newrez aims to innovate and expand accessibility to homeownership.

In recognition of Earth Day, Newrez successfully completed its second annual campaign, planting 10,000 trees through a partnership with One Tree Planted. The initiative motivated customers to switch from paper to paperless billing, with a pledge to plant one tree for each transition. President Baron Silverstein emphasized the company's commitment to sustainability and community interests. This effort not only aids in reducing carbon footprints but also contributes to biodiversity and social impact globally.

New Residential Investment Corp. (NRZ) reported strong Q1 2022 financial results, posting a GAAP net income of $661.9 million, or $1.37 per diluted share, up from $160.4 million in Q4 2021. Core earnings were $177.4 million, slightly down from $191.9 million in the previous quarter. The company maintained a common dividend of $116.7 million ($0.25 per share) and increased its book value to $12.56 per share. Notable achievements included a pre-tax income of $906.3 million in MSR-related investments, demonstrating effective capital deployment and resilience amid market volatility.

Newrez has appointed Neenu Kainth as its new Chief Digital Officer. With over 20 years of experience in digital transformation across Fortune 500 companies, Kainth is expected to enhance customer experience and drive innovation at Newrez. Her prior roles include leadership positions at a major lender and companies like Verizon and Comcast. Newrez aims to optimize its loan servicing business and improve customer retention through Kainth's expertise in technology and product management.

On November 8, 2021, KBRA assigned a BB+ Issuer rating to NewRez LLC, a wholly-owned subsidiary of New Residential Investment Corp. (NYSE: NRZ), with a Stable Outlook. NewRez originated $97.6 billion in loans in 2021 and reported an owned servicing portfolio of approximately $122 billion by year-end. The solid capitalization and moderate leverage of NewRez reflect a durable creditor profile. The rating is anchored by NRZ's strength as a leading mortgage originator and servicer, supported by $6.7 billion in consolidated total equity at year-end 2021.

New Residential Investment Corp. (NYSE:NRZ) will announce its Q1 2022 financial results on May 3, 2022, before the NYSE opens. An 8:00 A.M. ET conference call will follow, allowing public participation. The results will be accessible on the company's website. A replay of the call will be available until May 10, 2022. Since its inception in 2013, New Residential has issued over $3.9 billion in dividends to shareholders, focusing on attractive risk-adjusted returns in various interest rate environments.