NRZ News and Press, New Residential Investment Corp. From 03/02/21

During February, we placed a handful of trades in the mortgage REIT preferred shares. We recently picked up shares of ARR-C and NRZ-B. We'll highlight the index cards and commentary on those positions. In February we also closed out positions in NYMTP, TWO-E (which was called) and...

We trade our mortgage REIT positions based on shifting price-to-book ratios. It’s a great technique. It’s like counting cards, except we get to use machines, and some people think they sat down to play "Go Fish." We will share one of our recent adjustments in our por...

The number of mortgages in active forbearance rise for a second week in a row, climbing by 21K (+0.8%) since last Tuesday, pushing the total back up over 2.7M, according to Black Knight's McDash Flash Forbearance Tracker.Earlier this month, the number of mortgages in forbearance fell below th...

Following the pattern of mid-month increases in mortgage forbearance volumes, the number of mortgages in active forbearance rises by 15K, or 0.06%, since a week ago Tuesday, according to the Black Knight's McDash Flash Forbearance Tracker.Still, the monthly rate of decline holds steady at ~2%...

Pricing between the different series of NLY preferred shares is absurd. NLY-G values are much too close to NLY-F and NLY-I. Investors in NLY-G can get a dramatically better risk-adjusted rate of return by swapping to NLY-F or NLY-I. The payback period on the upgrade is less than t...

2020 was a year to remember for the mortgage originators, and one to forget for the mortgage real estate investment trusts ( REITs ). For mortgage originators, the COVID-19 pandemic caused the Federal Reserve to push interest rates to the floor, which ushered in a massive refinancin...

New Residential Investment (NRZ) gains 1.0% in premarket trading after its board authorizes a share repurchase program of up to $200M.The new common share repurchase program, which expires on Dec. 31, 2021, replaces its previous $200M buyback program, which ended on Dec. 31, 2020.Jonatha...

New Residential Investment Corp. (NYSE: NRZ, “New Residential”, the “Company”) announced today that the Company's Board of Directors (the “Board”) authorized a new share repurchase program of up to $200 million of the Company's common shares thr...

The Taxable account generated $2,208.97 of dividends in January of 2021 compared with $1,047.41 of dividends in January of 2020. The Taxable account had a balance of $444,176.42 as of January 31st, 2021, vs. $433,812.23 on January 31st, 2020. The annualized cost basis yield is 4.68%. ...

U.S. equity markets rallied to all-time highs this past week, propelled by a historically strong slate of corporate earnings, encouraging coronavirus trends, and economic data showing muted inflationary pressure in early 2021. Adding to its nearly-5% rally in the prior week, ...