The business executive has for many years of experience in the business world where he has served in various capacities at different organizations. Currently, he works as the president and chairman at New Residential. He has chaired the organization’s board for the last three years now and has helped in transforming the operations of the firm through the adoption of appropriate policies. Before Mike Nierenberg joined New Residential, he served the Bank of America.
He had worked at the financial institution for five years. Prior to that job, he was hired by an investment firm called JP Morgan. Mike Nierenberg has urged individuals and organizations to invest in excess mortgage servicing rights (MSRs). He is innovative and that has earned him a good reputation in the industry. According to Mike Nierenberg, every investment manager must focus on identifying and exploiting undervalued assets. Experts urge investors to always ensure that they possess enough capital and have good working relationships with other businesses before acquiring the assets.
Under the leadership of Mike Nierenberg, New Residential acquired mortgage servicing rights worth $114 billion last year. One of the main reasons why many investors do not acquire the assets is that they are more complex than other asset classes and hence require individuals with vast knowledge in the field. Mortgage servicing rights have many benefits that make them a good investment opportunity. According to statistics in the mortgage industry, MSRs sold by various financial institutions are valued at over $3 trillion in the last decade. Unlike some assets, this class guarantees a steady cash flow in the long run.
Contact Michael Nierenberg: www.reuters.com/finance/stocks/company-officers/NRZ