NRZ News and Press, New Residential Investment Corp. From 08/25/20

To review, the FHFA about two weeks ago proposed an "adverse-market" refinance fee of 0.5% to being on September 1 for all refinance mortgages backed by Fannie Mae ( OTCQB:FNMA ) and Freddie Mac ( OTCQB:FMCC ) . The bizarrely-timed proposal immediately got the politically well-connected...

Preferred Series C from Chimera Investment Corp. ( CIM.PC ) has an attractive 9.31% yield at current prices, but Chimera Investment Corp. ( CIM ) has been hit hard by the pandemic, more so than most other REITs. Because of the company's poor performance, weak financials and uncertain prospects...

The financial crisis brought on by the COVID-19 pandemic this year has been rough on the real estate investment trust (REIT) sector. For a short time in the spring, the financial markets went into a bit of panic mode and started calling in loans, creating an illiquid situation for some as avai...

Mortgage servicing companies have stabilized a bit this week following moderate to strong declines in the wake of a new half-point "adverse market fee" from Fannie Mae and Freddie Mac on refinancings. More news on: New Residential Investment Corp., PennyMac Mortgage Investment Trust, Pen...

The potential to either restore dividends to nearly pre-pandemic levels or to start on a path of steady dividend growth is clear with: NRZ, GMLP and PAA. At the start of the pandemic-triggered economic crisis, a large portion of stocks in the high-yield sectors slashed or suspended dividend...

NewRez LLC selects Jacksonville as a core enterprise location, plans to hire 750 employees nationwide over the next few months, many of whom will be based in Jacksonville. NewRez LLC (“NewRez”), a national mortgage lending and servicing organization, announced plans tod...

We've been keeping a closer eye on NRZ-A ( NRZ.PA ), NRZ-B ( NRZ.PB ), and NRZ-C ( NRZ.PC ) over the last several weeks as we evaluated where to place the price targets. We're going to share our view on the NRZ preferred shares, but we're also going to highlight how we evaluate the different s...

The number of U.S. mortgages in active forbearance declined by 71K over the past week, pushing the total to under 4M for the first time since early May, according to Black Knight McDash Flash data. More news on: Marathon Patent Group, Inc., New Residential Investment Corp., Mr. Cooper Grou...

Carrier Global Corporation ( CARR ) emerged along with Otis Worldwide Corporation ( OTIS ) as two spin-offs from the merger of United Technologies ( UTX ) and Raytheon ( RTX ). So far I have been extremely pleased with the results of the spin-off and John and Jane decided that it made sense to...

While traders were driving up Tesla shares double-digits in wake of the company's stock split, the FHFA yesterday rolled out an adverse-market refinance fee of 0.5% on all refinances purchased by Fannie Mae ( OTCQB:FNMA ) and Freddie Mac ( OTCQB:FMCC ) after September 1. More news on...