Introduction
NewRez Mortgage is a well-known mortgage lender in the United States. Many people wonder who owns NewRez Mortgage and what the company’s ownership structure looks like. In this article, we will dive deeper into the topic and explore the ownership of NewRez Mortgage.
NewRez Mortgage Ownership
NewRez Mortgage, formerly known as New Penn Financial, was founded in 2008. The company has gone through several ownership changes over the years. As of the time of writing, NewRez Mortgage is owned by New Residential Investment Corp.
New Residential Investment Corp: New Residential Investment Corp, often referred to as NRZ, is a publicly traded real estate investment trust (REIT). It focuses on investing in and managing residential mortgage-related assets. NRZ was founded in 2011 and is headquartered in New York. The company’s primary business is acquiring and managing mortgage servicing rights (MSRs), residential mortgage-backed securities (RMBS), and other related assets.
NRZ acquired NewRez Mortgage in 2018 as part of its strategy to expand its mortgage origination platform. The acquisition allowed NRZ to enhance its mortgage servicing capabilities and diversify its revenue streams. NewRez Mortgage operates as a subsidiary of NRZ, benefiting from its financial resources and expertise in the mortgage industry.
Benefits of New Residential Investment Corp’s Ownership
The ownership of NewRez Mortgage by New Residential Investment Corp brings several benefits to both companies:
Financial Stability: As a publicly traded REIT, NRZ has access to significant financial resources. This financial stability allows NewRez Mortgage to continue its operations and provide mortgage services to its customers.
Operational Synergies: NRZ’s expertise in managing mortgage-related assets can be leveraged by NewRez Mortgage. The companies can collaborate to optimize their operations and improve efficiency in mortgage origination and servicing.
Expanded Product Offerings: Being part of NRZ’s portfolio allows NewRez Mortgage to offer a broader range of mortgage products and services to its customers. This expanded product offering can attract more borrowers and contribute to the growth of the company.
Conclusion
NewRez Mortgage is currently owned by New Residential Investment Corp, a publicly traded REIT specializing in residential mortgage-related assets. The ownership by NRZ provides financial stability, operational synergies, and expanded product offerings for NewRez Mortgage. This ownership structure allows NewRez Mortgage to continue its operations and serve its customers in the mortgage industry.
References
1. New Residential Investment Corp: https://www.newresi.com/
2. NewRez Mortgage: https://www.newrez.com/
