As the Chairman of the Board, President, and CEO of New Residential Investment Corp, Michael Nierenberg has a lot of experience in the residential investment market. This has been especially true since being named CEO and President in 2013, and even more so since being appointed Board Chair in 2016. Through this time, Mr. Nierenberg has been seen as an innovative pioneer in the industry, given a combination of unique moves he’s made with New Residential.
One point that he’s been focusing on in a past couple of years is Mortgage Servicing Rights, additionally called MSRs. Throughout Michael Nierenberg’s time with New Residential Investment Corp, he’s continually chased down a variety of under-appreciated assets, especially within MSRs. Through this time, he’s found two key factors in picking out ones which will be successful. The first of these is that they have acceptable capital levels to continue developing. The second is also focused on expansion, as this is having the ability to develop a growing number of partnerships in the industry.
On the off chance that a business can’t meet these, then they’re more than likely not going to be a beneficial asset, according to Mr. Nierenberg. With this mindset, Michael Nierenberg has helped New Residential Investment Corp with expanding over the past half-decade. For example, he was one of the essential drivers behind the companies growth to handling $118 billion of managed assets in 2018 alone. A considerable amount of this was a consequence of the innovative and unique ways that Mr. Nierenberg looks for new investments.
A lot of it has also been because Mr. Nierenberg has always embraced a keen knowledge of the industry. Over his career, he’s developed an a deep understanding of the overall residential retail market, as well as what needs to be done to build a business. This knowledge helped drive Michael Nierenberg’s success, as when it comes to many situations and investments, he’s intensely aware of the potential ramifications of any investment or change in the industry. Because of that, he’s able to come up with solutions to problems on a quick and regular basis.