On March 6, 2014, New Residential Investment Corp. (NYSE:NRZ; the
“Company”, “New Residential”) committed to purchase interests in a $900
million pool of non-Agency residential mortgage loans (approximate
current face amount) that were previously securitized by an affiliate of
Springleaf Financial Corporation (“Springleaf”). New Residential expects
to settle the acquisition by the end of the first quarter of 2014.
Springleaf is majority owned by private equity funds managed by an
affiliate of the Company’s manager.
ABOUT NEW RESIDENTIAL
New Residential focuses on opportunistically investing in, and actively
managing, investments related to residential real estate. The Company
primarily targets investments in: (1) mortgage servicing related assets,
(2) residential mortgage backed securities (“RMBS”), (3) residential
mortgage loans and (4) other related investments. New Residential is
organized and conducts its operations to qualify as a real estate
investment trust (“REIT”) for federal income tax purposes. The Company
is managed by an affiliate of Fortress Investment Group LLC, a global
investment management firm.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including (without limitation) the statement
regarding the Company’s expectation to settle the acquisition described
in this press release by the end of the first quarter of 2014. There can
be no assurance that the acquisition will actually occur in such
timeframe, or at all. Forward-looking statements are based on
management's current expectations and beliefs and are subject to a
number of trends and uncertainties that could cause actual results to
differ materially from those described in the forward-looking
statements, many of which are beyond our control. The Company can give
no assurance that its expectations will be attained. Accordingly, you
should not place undue reliance on any forward-looking statements
contained in this press release. For a discussion of some of the risks
and important factors that could affect forward-looking statements, see
the sections entitled “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operation” in the
Company’s Quarterly Report on Form 10-Q, which is available on the
Company’s website (www.newresi.com).
In addition, new risks and uncertainties emerge from time to time, and
it is not possible for the Company to predict or assess the impact of
every factor that may cause its actual results to differ from those
contained in any forward-looking statements. Such forward-looking
statements speak only as of the date of this press release. The Company
expressly disclaims any obligation to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect
any change in the Company's expectations with regard thereto or change
in events, conditions or circumstances on which any statement is based.
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