New Residential's Transformation Is Now Complete. Here's How It's Changed
Mortgage REIT New Residential (NYSE: NRZ) was one of those companies, and it has made possibly one of the biggest transformations. The company held legacy non-guaranteed mortgages and used them as collateral for securitizations. The company also had a lending arm that focused on the nascent market in non-guaranteed mortgages, known in industry vernacular as non-QM lending.