New Residential closes purchase of PHH’s Fannie MSRs

New Residential enters into "stalking horse" Asset Purchase Agreement with Ditech to purchase certain assets in Ditech’s Chapter 11 Bankruptcy Acquisition of these assets, in addition to those already operated through NewRez and Shellpoint Mortgage Servicing, would further New Residential’s.

In addition, New Residential will purchase approximately $300 million of servicer advances from PHH Mortgage. In effect, PHH will become a subservicer for New Residential. As per the deal between the two companies, PHH will subservice the 480,000 loans underlying the MSRs to be acquired for an initial period of three years, subject to certain termination provisions.

New Residential expects to fund the acquisition in two stages with a combination of cash and existing financing lines (1) New Residential plans to fund the $190 million purchase price with existing capital and financing lines Cash on balance sheet – NRZ has $280 million cash as of 3Q17

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Loans originated and sold to Fannie Mae generated growth of $10.7 million in the servicing. The net interest margin declined to 3.40% for 2016 compared to 3.48% in 2015 as new loans are originated.

Reported a Net Loss of $44 million for the first quarter of 2019 Closed or have been awarded MSRs to date with current UPB of $. including its relationship with New Residential Investment Corp..

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New Residential closes purchase of PHH’s Fannie MSRs We also expect the final purchase price of the MSR and advances to be adjusted prior to close, as the UPB on the MSR and related. And will that be recaptured on the $50 billion of Fannie MSRs? Or.

To complement our jumbo mortgage business, beginning in late 2013 we expanded our residential loan platform to include acquiring conforming mortgage loans, which are loans eligible for sale to Fannie.

NMI stock offering enhances future capital raising abilities Assuming an initial public offering price of $ per share, which is the midpoint of the range set forth on the cover page of this prospectus, we estimate that the net proceeds to us from the sale of our common stock in this offering will be $ (or $ if the underwriters exercise in full their option to purchase additional shares of common stock.Credit Suisse relief plan could downsize RMBS settlement amount Hot on the heels of two similar settlements earlier in the month, the Justice Department announced on Wednesday a $5.28 billion settlement with Credit Suisse related to the company’s sale of.

Moves closer to complete sale of MSR portfolio. In the filing, PHH said that the closing of this sale constituted the initial sale of MSRs under its agreement with New Residential. When PHH initially announced the deal in December, it said it planned to sell the servicing rights on 480,000 mortgages with a total unpaid principal balance of $72 billion to New Residential.

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