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NRZ - New Residential: Buy The Panic In This 11% Yielder
New Residential Investment Corp.
New Residential has suffered, like many other mortgage REITs.
Less refinancing activity is positive for its MSR portfolio, though. Management internalization is also a good thing, with a compelling cash-on-cash return.
NRZ offers a hefty yield of more than 11% and trades at a historically low book value multiple today.