Article Thesis
New Residential Investment Corp.'s (NRZ) Q1 earnings release provides new information regarding the impact that the coronavirus pandemic and its effect on global markets had on the company's operations. Book value is down, but that was to be expected and is not a big surprise.
New Residential also made some changes to its business model, choosing to focus more on its operating businesses instead of owning higher-yielding financial assets. This strategic shift should help lessen the impact that market volatility has on the company, and thanks to the fact that the