New Residential Investment Corp.

The company aims to use the additional capacity to get its non-qualified mortgage business back to producing $125 million per month, and anticipates more purchases of mortgage servicing rights, representatives said in its Q1 earnings call.

The subsidiary of New Residential Investment produced nearly $400 million in non-QM volume in the first quarter of 2020 before putting a hold on the product offering in March.

Company CEO Michael Nierenberg previously commented the real estate investment trust's parts could be worth more than the whole.

Minus various expenses including corporate, legal and servicing rights valuation, Ocwen had adjusted pretax income of $13.5 million.

Ocwen Financial has approximately $749 million of liquidity from various sources to deal with servicing issues arising from the coronavirus, a company press release said.

Mortgage lenders could benefit from the surge in refinancing due to widening market spreads, and that could help offset damage to servicing rights portfolio valuations, according to Keefe, Bruyette & Woods.

The cancellation by New Residential of a money-losing subservicing agreement should benefit Ocwen's financial results going forward, the company said.

Fannie Mae is sponsoring a $1.03B CRT transaction, while Caliber Homes Loans, New Residential and Onslow Bay fill the non-QM pipeline

The end of the qualified mortgage patch should further accelerate non-QM origination growth, but is the mortgage industry ready?

New Residential Investment Corp. took a $32 million net loss in the second quarter as it diversified its business lines and repositioned to protect its mortgage servicing rights from falling rates.