NRZ News and Press, New Residential Investment Corp. From 05/25/21

REITs recorded a sequential improvement across all critical metrics in Q1, powering a historic wave of dividend growth in early 2021. However, several harder-hit property sectors are far from fully-recovered. The Great Financial Crisis resulted in long-term, lasting pain for the real ...

Comparing future cash flows from individual preferred shares can be a useful tool for figuring out which share should be worth more. IVR-B and IVR-C are out of whack. Neither is great, but IVR-C is clearly a better deal when it costs $.50 less than IVR-B. There’s a better d...

The "Tesla Test" looks for the rare combination of forensic scores that preceded a 40% drop in TSLA stock in a prior ad-hoc study forecasting many other stock declines since. This ongoing test of 22 adverse fundamental forensic and value ratios across four accounting algorithms resume...

The number of mortgages in forbearance increases 16K in the past week, only the second time in the past 12 weeks that the number has risen.That reflects the return of the mid-month increase in rising forbearances. During April, the pattern had been suppressed by strong declines due to plan ex...

One of our strong buy ratings from 2020 needs an update. GPMT destroyed the bears. GPMT was priced for disaster. It never happened. Unless someone was shorting GPMT. That person would have a disaster. Spreads between assets and hedges in agency and non-agency mREITs (ignores comme...

Black Knight's Originations Market Monitor shows overall rate lock volume fell 11.3% in April with cash-out (-13%) and rate/term (-20%) refinancing locks dropping more than purchase locks.April's month-end average conforming 30-year rate, at 3.17%, was down 17 basis points from March, but up ...

After experiencing one of the best years in over a decade, mortgage bankers are being treated as suspect by the market. Investors are fretting about rising mortgage rates choking off the refinance market, and increased competition among bankers suppressing margins. In this environment, a mo...

Stocks moved another leg higher in April driven by strong earnings, but I am sensing some upcoming cracks due to rising inflation across the board. I am continuing my monthly investment plans while awaiting a market correction or possibly a real crash once market euphoria has come dow...

Several mortgage REITs are trading around book value. Thanks to changes in the spreads on agency MBS, book value has also increased substantially. The remaining risk/reward profile is significantly less appealing. The 3 REITs we highlight here have done a better job at protecting ...

New Residential Investment Corp. posted solid earnings with general positive tone, even though they missed on EPS. The company is in the midst of some economic tailwinds that should help the overall business in the short to medium term. The dividend remains strong and healthy. The...