On May 16, 2013 real estate investment trust Newcastle Investment Corp. (NYSE:NCT) spun off the company's residential mortgage related assets into a new REIT: New Residential Investment Corp. (NYSE:NRZ). New Residential will focus on the ground-breaking excess mortgage servicing rights market that Newcastle first invested in starting in mid-2012. With the excess MSR investments and some other very positive investment results, Newcastle was able to provide 100% plus return to investors from late summer of 2012 until the company was split-up last month. This article will cover some background and reasons why investors can expect superior REIT results from New Residential Investment.
The Manager Agreement
Comments on my recent article discussing the split-off expressed concerns...
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