New Residential purchases $900M in mortgages

|About: New Residential Investme... (NRZ)|By:, SA News Editor

New Residential (NRZ) agrees to buy $900M of non-agency residential mortgages that were previously securitized by an affiliate of Springleaf Financial (LEAF). The deal is expected to settle this quarter.

Springleaf's majority owner in Fortress Investment (FIG) which is also the manager of New Residential.