New Residential To Acquire MSRs From Springleaf

Posted by Patrick Barnard on March 11, 2014 No Comments
Categories : Mortgage Servicing

New Residential Investment Corp. reports that it is acquiring a $900 million portfolio of non-agency residential mortgage loans that were previously securitized by an affiliate of Springleaf Financial Corp.

Terms of the transaction were not divulged. New Residential expects to complete the deal by the end of the first quarter, the company says in a release.

Springleaf is majority owned by private equity funds managed by an affiliate of the company's manager.

New Residential has been actively purchasing mortgage servicing rights (MSRs) and residential mortgage-backed securities. In December, the company acquired an agency MSR portfolio with an unpaid principal balance of approximately $58 billion from Nationstar, for a purchase price of about $3.2 billion.

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