New Residential Investment Corp is an entity in the real estate industry, and its focus is on residential property sector where it not only invests in it, but it is also involved in management activities. The company was incorporated in 2011 and its headquarters are in New York. The organization has grown by dealing with MSRs (mortgage servicing rights) as well as Excess MSRs as part of its business strategy. It also has operations in real estate securities, servicer advances, consumer loans, and mortgage loans. New Residential Investment Corp has also established itself in the market by making acquisitions. In 2017, the company purchased Shellpoint Partners for $190 million.
This move has allowed New Residential Investment Corp to expand more in the mortgage lending aspect of the mortgage industry since this is Shellpoint’s strength. Currently, the face value of New Residential Investment Corp comprises of MSRs. The entity gets income from this aspect of the industry when an MSR fee is more than the basic amount. The carrying value of the company’s portfolio is characterized by loans extended to accommodate payments that have not been made by homeowners or mortgage service advances. It is relevant to note that a majority of the securities have a lifespan that is either short-term or medium-term. New Residential Investment Corp is also known to invest in non-agency and agency RMBS (residential mortgage securities).
When examining the company’s portfolio, it is clear that it has interest in mortgage pass-through certificates, which make up its agency RMBS. It is also part of agency RMBS through interest only. Additionally, it also utilizes to-be-announced forward contract arrangements. The company is part of non-agency RMBS through hybrid adjustable-rate, adjustable and fixed rate mortgages. New Residential Investment Corp is under the leadership of Michael Nierenberg as he is the one in the chief executive officer position. He is also the chairman of the board and the company’s president. Due to the potential that the real estate industry in the U.S market holds, the company is expected to grow or expand significantly in the future. People anticipate that it will venture more in markets outside the United States.
Ever since its commencement, Fortress Investment group has been continuously coming up with ways to not only broaden its horizons but also create investment opportunities for investors strengthening their profit gaining platforms. Take, for instance; the firm recently offered IPass, one of the leading tech firms in the provision of global connectivity options, a $20 million funding. This funding will go a long way in assuring its investors that they can safely invest in the firm without worrying about any market perils that lie ahead hence creating a win-win situation for both the firm and the investors. The firm was offered an immediate $10 million, and the rest is to follow soon.
According to IPass’s president and also CEO, the fund will help strengthen the company’s balance sheet making it possible for it to now focus on revenue making and maximizing on profits without stressing on capital. He further added that the loan was secured using all of IPass’s patents such as smart connect, thus clearing any credibility doubts that might have been unaddressed. IPass is the force behind one of the world’s largest WI-FI networks operating on Saas application. It plans to grow its hotspots by approximately 340 million making it ideal for investors as this is an area that is continually advancing.
To further assure investors that they can go ahead and invest in IPass, the deal between Fortress Investment group and the firm was brokered by Riley Financial Inc. a highly ranked investment facility, which specializes in arranging and ensuring the completion of A-list deals. Riley Financial operates in capital markets, valuation and appraisal, auction and liquidation and principal investments hence it understands the essence of equity.
About Fortress Investment group
Fortress Investment Group is a high profile asset management firm that specializes in corporate acquisition and mergers, asset-based investing, capital markets, operations management among many others. It was established in 1998 and boasts a strong management team comprising of Wes Edens, Peter Briger, and Randal Nardone all of whom are key players in the finance arena.
The firm has over 1750 clients and manages assets worth over $40 billion thereby making it the perfect company to turn to when other companies need funding as it already has an established market thus influential. There is no doubt that the deal between highlighted earlier will help Ipass gain stellar growth.
The role of Jed McCaleb is one of the significant ones in the history of blockchain technology. Currently running Stellar, a company he co-founded, he has been one of the most consistent players in the industry. At no point has he ever given up despite the challenges that the industry faces due to its tender age. The blockchain just like any other industry is faced with challenges that face young industries. McCaleb has stayed on, and he is always looking for solutions to deal with the challenges. Through Stellar, he is developing one of the biggest projects in the blockchain industry. Stellar is currently working on a cross-border system for remittances and payments.
Currently, the biggest problem facing the industry is lack of payments system that allows the use of cryptocurrencies. Once this project is complete, we are likely to see more businesses accept cryptocurrencies as a means of payment for goods and services. Successful completion of this project will be good news in the industry since we will be moving nearer to a time when cryptocurrencies will be accepted just like any other currency.
Jed McCaleb joined the industry in 2010 after he was introduced to bitcoin by an article he read online. Since then, he has been a central player in advancing the industry. In 2011, he created the first centralized exchange for bitcoin known as Mt. Gox. All other platforms that were available; such as localbitcoins needed one to coordinate with another person to transact. Mt. Gox rose to prominence in a very short time and at the height of its usage was covering 80% of cryptocurrencies transactions.
In 2014, he sold the company to another software developer. Under the new owner, it was hacked. This was one of the worst occurrences in the history of bitcoin. Cryptocurrencies lost value by a huge percentage. Jed McCaleb sold the company so that he could concrete on developing solutions for other challenges facing bitcoin. Looking at the history of the blockchain industry and the contributions that Jed McCaleb have made, his role in the growth of the industry is clear. Get the facts straight from Jed McCaleb on LinkedIn.
When David Zalik founded GreenSky Credit in 2006, he was nearly 100 percent sure that he had a winner on his hands. But the then-32-year-old entrepreneurwas facing a market that was uncertain and a model that had never before been tested. Still, the young businessman was willing to stake essentially everything he had on the future success of his company. David Zalik had as much skin in the game as can possibly be put there.
To come up with the money, he mortgaged more than $10 millionof commercial real estate, representing his entire effective net worth. Zalik could have taken on partners, but so strong was his belief in the future success of GreenSky Credit that he wanted to retain as much equity in the firm as he possibly could. This would prove to be a wise decision.
Zalik first got the idea for GreenSky Credit while working on another one of his companies, Outweb. The e-consultancy firm had a large number of clients in the home-remodeling sector. And Zalik was able to see, first-hand, the problems that this industry faced. One of the issues that Zalik saw was the constant losing of sales at the retail level to customers who had simply underestimated how much a home remodeling project would ultimately cost. It was not uncommon for customers with little or no contracting experience to underestimate the true cost of projects by up to 50 percent. When they finally were informed of the actual price, the sticker shock was frequently enough to ensure that the deal would fall through.
GreenSky Credit addresses this problem by pairing merchants with 14 of the nation’s largest creditors. Because the majority of customers for high-end home remodeling have excellent credit scores, GreenSky Credit can offer extremely attractive terms on the loans while also guaranteeing lenders a very low probability of defaults. This model has proven to be an excellent way to facilitate deals that would have otherwise fallen through.
Today, GreenSky Credit originates more than $5 billion in loans every year. Zalik seeks to grow to doing $20 billion in annual loans by 2020.
Ian King has had a long history of success in the markets, including a ten year stint trading options as a head investor at the Hedge Fund Peahi Capital. More recently, he has developed an interactive cypto currency investment solution and educational tool for Banyan Hill publishing readers. Not only does he write about crypto currency but he trades them himself. With over 20 years of experience analyzing the markets and trading at high level positions, he has secured himself in the cutting edge of investment knowledge. Visit the website iankingguru.com to learn more.
As an opinion leader in the crypto currency marketplace, the tools he has created have helped new investors get started in what is steadily becoming one of the most lucrative and profitable financial markets on this planet. Crypto currency is popular among younger investors who are on their computers and are looking for ways to invest.
Also, Ian King is a weekly author and contributor on Banyan Hill’s Sovereign Investor Daily. Furthermore, the three part outperforming crypto currency selector he has designed has shown to contribute to an increase in many of his followers’ portfolios. Therefore, his students look to his weekly examinations of the crypto markets on his weekly contribution to the Banyan Hill Soveriegn Investor Daily.
Overall Ian King is a wise investor who has seen much success, and has secured a leading position in the world of crypto currency trading. This financial wizard can do just about anything. His readers are now, more than ever, carefully following him using all the tools that he has designed in order to increase the value of their own individual portfolios.
Ian King has shown value as a hedge fund manager and now as a writer, and individual crypto currency trader. People all over the world look to him for ideas and inspiration on when and how to invest in crypto currencies. Consider looking into all of the products he has made in order to learn how you can become more knowledgeable of the crypto currency trading world. Read more about Ian King at Ideamensch.