NRZ - New Residential Q3 reflects strong investment portfolio Caliber acquisition
New Residential (NYSE:NRZ) Q3 earnings top the consensus estimate as the mortgage originator and servicing company closed its acquisition of Caliber Home Loans in August. "Third quarter earnings were supported by the addition of the Caliber Home Loans Inc. platform, strength in our investment portfolio, slowing MSR amortization and higher recapture," said Chairman, CEO and President Michael Nierenberg. Q3 core EPS of $0.44 vs. consensus of $0.35 and $0.31 in Q2. New Residential (NRZ) stock rises 0.8% in premarket trading. Q3 revenue of $960.4M vs. $459.5M in Q2. Book value per share of $11.35 at Sept. 30 vs. $11.27 at June 30. Q3 interest income of $190.6M vs. $201.8M in Q2. Q3 origination segment pretax income of $177.5M vs. $75.4M in Q2 and up 43% from Q3 2020. Quarterly origination funded production of $34.5B in unpaid principal balance ("UPB"), up 47% Q/Q and 91% Y/Y. Total gain on sale margin of 1.61%
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New Residential Q3 reflects strong investment portfolio, Caliber acquisition