Michael Nierenberg is the President, Chairman and CEO of New Residential Investment Corp., a successful real estate investment trust (REIT). But what is a REIT? A REIT is a firm that operates, owns, or finances income-generating real estate. If you’re an investor in REIT, you will get an opportunity to invest in various consolidated assets that would otherwise not be available to conventional investors.
Michael Nierenberg started the New York-based company which targets investments in residential mortgage backed securities, excess mortgage servicing rights, residential mortgage loans as well as other related portfolios in 2011. It recognizes that when you invest in the real estate sector, you invest in a neighborhood and community. With many American homeowners not liking outright ownership anymore, real estate investment trusts such as New Residential Investment Corp. came in to help people and families to create a home or a business without the worry of ownership on their way.
While it is generally difficult to choose the right REIT for you, the decision is easier when it comes to the publicly traded New Residential Investment Corp., a subsidiary of Fortress Investment Group. It focuses on managing investments mainly in residential real estate. It aims at leveraging its investment expertise as well as know-how to drive their investors’ dividends higher going into the future.
The company which is listed on the New York Stock Exchange as NRZ specialize on strong-risk adjusted returns like Servicer Advances, Excess Mortgage Servicing Rights, associated call rights, and non-agency residential mortgage backed securities. New Residential Investment Corp. also leverages a solid leadership team that understands the in’s and out’s of the residential housing market to meet its goals.
The company’s success can be partly attributed to the competent leadership team led by Michael Nierenberg. Prior to NRZ, Michael Nierenberg was a managing director and head of Global Mortgages and Securitized Products at Bank of America Merrill Lynch. He served at JP Morgan as head of Global Securitized Products as well as a member of the management committee of the investment bank. He also held various prestigious executive positions at Bear Steams. The positions include co-head of mortgage-backed securities trading, co-head of structured products, and head of interest rate and foreign exchange trading operations. He later appointed to the Bear Steam’s board of directors.
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