|Bid||0.00 x 3000|
|Ask||0.00 x 3200|
|Day's Range||10.42 - 10.87|
|52 Week Range||8.98 - 11.81|
|Beta (5Y Monthly)||1.66|
|PE Ratio (TTM)||4.69|
|Earnings Date||Jul 27, 2022 - Aug 01, 2022|
|Forward Dividend & Yield||1.00 (9.41%)|
|Ex-Dividend Date||Apr 01, 2022|
|1y Target Est||12.93|
FORT WASHINGTON, Pa., May 10, 2022--In honor of Earth Day, Newrez LLC ("Newrez," the "Company"), a national mortgage lending and servicing organization, recently concluded its second annual campaign to make a positive impact on the environment by planting 10,000 trees.
The first quarter of 2022 was supposed to be particularly brutal for mortgage originators and mortgage real estate investment trusts (REITs). The Fed has begun a series of increases in the Fed Funds rate designed to put the brakes on rising inflation. At the same time, the Fed is preparing to let its holdings of mortgage-backed securities decrease.
With me today are Michael Nierenberg, chairman, CEO, and president of New Residential; Nicola Santoro, chief financial officer; and also Baron Silverstein, president of Newrez and Caliber. As we go forward, looking across the industry, I would expect very little profitability in the origination business unless we see the treasury market rally back to lower yields.