“We believe this is a terrific acquisition for our Company,” said Michael Nierenberg, Chairman, Chief Executive Officer and President of New Residential. The transaction is intended to close as quickly as possible, subject to various approvals and customary closing conditions, and is targeted for the third quarter of 2021. With this acquisition, New Residential intends to bring together the platforms of Caliber and Newrez LLC (“Newrez”), New Residential’s wholly owned mortgage originator and servicer. (NYSE: NRZ “New Residential” or the “Company”) announced today that it has entered into a definitive agreement with an affiliate of Lone Star Funds (“Lone Star”) to acquire Caliber Home Loans, Inc. NEW YORK-(BUSINESS WIRE)-New Residential Investment Corp. Increases Asset Generation Capabilities and Opportunities.Enhances Purchase Origination Capabilities with Extensive Retail Footprint.Broadens Customer Retention Efforts with Strong Recapture Platform.Combination of Complementary and Leading Mortgage Platforms.Purchase Price to Tangible Book Multiple of 1.0x.New Residential to combine Newrez and Caliber platforms into premier financial services company
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