Market Square Plaza, 17 North 2nd St Suite 1300. We need to provide better service. Jack Navarro and his team do a fabulous job leading that side of our organization and working with our customers. We need to do a better job. Search over 700 The origination volumes have gone up from approximately $10 billion in a year to $50 billion, which should be about $50 billion this year and our servicing portfolio should end the year give or take about $300 billion. A total of 618 people completed the one-page paper survey while at the event. The game is designed to provide readers with a comprehensive overview of what is being done with their favorite characters from our world. Can you talk about whats driving the increase in volume there, what initiatives and efforts have you guys made and what have you had to do that can continue to drive that mix higher to increase the blended mix across the origination platform? So, what are the some of the important things for our company this year? Throughout the call this morning, we are going to reference the earnings supplement that was posted to the New Residential website this morning. The Registered Agent on file for this company is Corporation Service Company and is located at 15 West South Temple, Suite 600, Salt Lake City, UT 84101. They may have been associated with this organization before or after this year as well. As I pointed out earlier, we think we have only scratched the surface. How do we think about the MSR business, 60 basis point 10-year notes, one of the few fixed income instruments that will go up in value, historical pricing at some of the more recent lows we have seen in years. My main thing around our investment portfolio today is we are not going to go out and just deploy capital to 5% levered return, it just doesnt make sense, right for our cost of capital. Good morning, everyone and thanks for joining us. On the loan portfolio, today, 91% of the portfolio has no daily mark-to-market. Academia.edu no longer supports Internet Explorer. Yes, June we did $1.2 billion. information is available at www.Newrez.com. I would like to welcome you today to New Residentials second quarter 2020 earnings call and thank you all for joining us. There has been no change there. Thats why we are excited to create it where we are right now. The game is a bit challenging to play, but it is worth it for the features this game offers: a first-person view, 4-player online multiplayer, and the ability to create and customize your own forces. So we will be strategic around it, but I think the focus is going to continue on the origination side it will continue to be on the agency side. Its I would say anything and everything is on the table as we think about driving our share price higher. Founded in 2008 and licensed to lend in 50 offering a breadth of industry-leading products, supported by a loan process From a servicing perspective, continue to de-risk our servicing counterparties. The loan business today is $2 billion. Good morning, everyone and thank you for taking my question. To browse Academia.edu and the wider internet faster and more securely, please take a few seconds toupgrade your browser. The direct-to-consumer channel is very important to our recapture efforts and customer retention. We grew book and we will continue to focus on earnings and book value growth in both our investment portfolios and our operating business. Its much smaller. So, how do we think about ourselves today? As a lender, Newrez focuses on offering a breadth of industry-leading products, supported by a loan process that blends both human interaction and the benefits of technology into an unparalleled customer experience. And we our theme and my theme is truly the road to recovery. One is recapture. *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. The one thing I would say is we have been we have acquired a few large packages of bulk MSRs over the course of the past couple of years. So, March and April were a little bit lower. Cloudflare Ray ID: 7c0b0afca939e190 Thats great. BBB Business Profiles may not be reproduced for sales or promotional purposes. They have been able to work with young, innovative businesses and have been able to grow them into successful businesses. ANNUAL REPORT (2020) 31 Jan 2020. So we are monitoring both ways. Good morning and congratulations on a great quarter. And again, going back to Stephens question, whether you get another bit, whether you get more money into the system from another bill, when the CARES Act ends at the end of this month, I mean, it all remains to be seen, how this whole this is going to play out. MOSNESS, manager Source Arkansas Secretary Of State, http://www.sos.arkansas.gov/corps/sea., 17 Mar 2023 Company Addresses Head Office Address 4000 CHEMICAL ROAD PLYMOUTH MEETING, PA 19096 Home company The next question comes from Bose George from KBW. Please go ahead. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. Call (888) 556-9979. We are not going to payback the loan today. One is we are going to carry higher cash and reserves today than we have right until the world normalizes. I have been pretty vocal about that Rob Clements and John Surface who are great partners of ours. free lookups / month. I think the difference what we are seeing today versus the end of March was that the mortgage basis has tightened. Page 13. We still have our call rights. Founded in 2008 and licensed to lend in multiple states, NewRez is headquartered in Fort Washington, Pennsylvania. Again, we have 5,500 dedicated professionals across our company who are doing a great job with most of them working remotely. I get how you are thinking about it. The game is a bit challenging to play, but it is worth it for the features this game offers: a first-person view, 4-player online multiplayer, and the ability to create and customize your own forces. The survey was designed to provide information that would help the City of San Jose assess the success of the event, guide the planning for future Viva CalleSJ events, and inform potential funders and community partners about the benefits of Viva CalleSJ. Newrez If not, we will continue to focus on other ways to increase earnings across our portfolio. We dont have any control on whats going to happen with CFPB and FHFA and what we need to do is continue to perform for our customers and continue to do what we need to do there. So, all-in-all, those three business, its really two off balance sheet businesses for the most part should continue to do fine. As we continue our recovery from the early days of COVID-19, I am happy to report that we have made great progress on many fronts. I was just curious what kind of margins you are generating on the direct-to-consumer side of the platform versus kind of JV retailing and some of your and some of the correspondent as well. If we were to raise capital going back to historical dividend yields, our dividend yield would be something around 12%. I would now like to turn the conference over to Kaitlyn Mauritz with Investor Relations. JACK . Jack Navarro Newrez is a physical therapist and owner of Newrez Physical Therapy. When you think about the origination world today, its alive, its well, its robust. We need to do a better job on our web portals. She is known for her dedication to her clients and her ability to work diligently andicably through difficult times. How does that change origination channel? We are very focused on our marketing efforts. Page 7. Hey, thanks. Reduce the risk and leverage, 95%, again, of our investment portfolio, no daily mark-to-market. Is it that there is continued refi demand at the levels that we saw in the second quarter or is there specific recapture rates that are going to jump because of marketing programs or different targeting programs that you are doing? And then I think I posed this question last quarter, but at what point do you think it makes sense to internalize these investments and further bolster the on-balance sheet operating company? However, the difference today is pricing in MSRs is much, much lower. Coming out of COVID, we set forth a number of objectives and I just want to highlight a few of them. And with the Fed buying all these mortgages, I am not sure that they need to do anything more than that, but I just dont know. Thanks. That makes sense. I am writing to you to inform you that I have been accepted into the graduate program in English at your university. Yes. Mike, is it an oversimplification to say that you have got basically two businesses, an investment business, where you are going to be focused mainly on agency and keeping our eye open for opportunities? Its a little bit of everything. I saw this morning Fannie Mae came out and announced that they think there is going to be $3 trillion of mortgage production this year. State Court has no jurisdiction when case has been removed to Federal court still, they do anything to dismiss the case, jurisdiction be damned. We will talk about that a little bit more during Q&A. 1100 Virginia Dr Ste 125, Fort Washington, Pennsylvania, 19034, United States, Chief Information Officer, At Newrez, Caliber & Shellpoint, Assistant VP, Facilities & Corporate Services, Vice President, Vendor Risk Management Facilities Strategic Sourcing Expense Management, Vice President, Wholesale & Correspondent Operations. We have more cash in our balance sheet today than ever before. Our servicing business will continue to work and help homeowners move from forbearance to permanent solutions whether it be repayment plans, deferments, loan mods, whatever we need to do there to help homeowners will continue to do. Sign up for a free account. Thanks. As we sit in this robust housing market, robust refinancing market, we want to make sure that we continue to perform extremely well there. One is we are not seeing a lot of MSRs come to market in the bulk market. I am not going to we are not going to just go out and do this term loan and then turn around and pay it back a month later, because we think the world is safe, because we just don't know. We need to be better. I pointed out earlier in my opening remarks that MSR values today are at some of the lowest levels we have seen in years. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. So I think we will focus where we can on things that we that makes sense. Page 4, New Residentials road to recovery. When we look at the company today, our market cap is $3.1 billion. Ms. Brown had already done that. We expect some kind of recovery in the future on our MSR portfolio. So, as we think about the cash deployment, the one thing I would say is during the quarter as we came out of Q1, we reduced our agency positions to next to nothing. So what do you think you are going to put if you did one 1.2 in June, where do you think thats going to end up in July? My name is You can reach me at and I would like to discuss As we think about forbearance requests, again I pointed out ShellPoint has a great reputation in the industry. (business & personal). This is why the point that we continue to hammer home is that we need to get better in that direct-to-consumer channel, because not only is it going to help us retain our customers, its going to drive a lot more earnings through our through the system for shareholders. And then as we think about technology, continued use and growth of our proprietary digital processes to drive efficiencies in customer experience, we have made a lot of tweaks to our website portal to help our customers get through this the hardships that they currently experience. I would like to turn the conference back over to Michael Nierenberg for any closing remarks. We are going to keep that extra $2.2 billion and we will see what happens down the road. I am very excited about the opportunity to learn more about English and to work on my novel. 162.214.96.61 On the servicing side, Page 14, $24 million in pre-tax income in Q2, servicing portfolios increased 74% year-over-year. Middle Name Last Name Suffix Jack Navarro Entity Name Address City (no abbreviations) State Zip Code 75 Beattie Place, Suite 300 Greenville SC 29601 First Name Middle Name Last Name Suffix Kevin Harrigan Entity Name Address City (no abbreviations) State Zip Code 1100 Virginia Drive, Suite 125 Fort Washington PA . I give it a 7 out of 10. The exact name of the Foreign Limited Liability Company: The name and address of the Resident Agent: The limited liability company is to be managed by its Managers. Sorry, preview is currently unavailable. 95% of our investment portfolio away from agency mortgage-backed securities are non-daily mark-to-market or has a mark-to-market holiday. All of these were strategic around MSRs advances. You see them in the advances you mentioned that earlier. And one last quick one on thinking about kind of how you are hedging out the portfolio as a whole, obviously, MSR values are close to at some of the lowest levels we have seen in the long time. And where you actually we have some servicing transfers coming up from PHH over the course of the next quarter. EVP of Asset Recovery and International Relocation @, VP of Strategy and New Product Development @ Merrill Lynch. I mean people that are in forbearance will work with and provide mods and other solutions to help them stay in their homes, but the broader portfolio is where we are focused. Think about it this way, the offset between amortization on our MSR portfolio and the origination businesses is a very, very good hedge. Again, we estimate our servicing portfolio to be between $300 billion and $325 billion at the end of the year and our return in equity is about 44% for the quarter. But again, we dont want to just put out capital without getting credit for it. And I pointed out again its been a positive event as we have gotten in more cash than cash, then cash thats actually had to leave the system. But that company should do between $20 million and $30 million of EBITDA this year. During the quarter, we have added about $6 billion to $7 billion of agency mortgages. We are probably more biased to think rates are going to go higher at some point. NewRez is part of the Finance industry, and located in Pennsylvania, United States. On Page 21, I am not really going to spend any time on, because there has been no change whatsoever since last quarter. Those are really the probably the two largest off balance sheet investments. I mean, if there is a way to create more shareholder value, we will always look to do that. The answer is no. Here's a list of some of the top trending technologies and APIs used by NewRez. What are your thoughts about paying some of that back? Thank you for attending todays presentation. It bothers us tremendously that we are trading where we are. Get Shane Ross's email address (s*****@newrez.com) and phone number (936229..) at RocketReach. So Michael, can you give us an idea of what your numbers look like for direct-to-consumer originations in the month of June and then how thats progressing through the month of July. Jack Navarro, manager; Shellpoint Partners LLC, member; Spencer Mosness, manager; Registry Page https://bizfilings.vermont.gov/online. The CARES Act, I mean, if you are going to get another bill that could be helpful, I think to homeowners. In the second quarter, we recently did another deal in the third quarter. Its hard for us to tell. Page 2 is really just a little bit of a snapshot of our business. He has been a professional therapist for over 10 years and has worked in the field for over 5. Page 5. Kind of following-up on Doug and Boses question, but just still want to gain on sale margin clearly much higher for the direct-to-consumer, from your slides. How do we compare our portfolio to the industry? A reconciliation of these measures to the most directly comparable GAAP measures can be found in our earnings supplement. On the advanced side, again, $2.2 billion in excess capacity, nothing really to talk about there and then I spoke about the digital nature of what we are trying to do.

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