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NRZ - New Residential to buy Caliber Home Loans for nearly $1.7B
New Residential Investment Corp.
The deal will add $141B UPB of MSRs to New Residential's (NRZ) stack, and boost the company's origination platform thanks to Caliber's sizable retail footprint.Caliber Home Loans in 2020 had $80B UPB of funded origination volume, with year-end servicing portfolio of $153B and 630K customers. 2020 pretax income was $891M, with ROE of 53%.New Residential is paying $1.675B for the acquisition, or roughly 1.0X tangible book value. The deal is seen closing in Q3.