Rithm Capital Corp. Completes Acquisition of Computershare Mortgage Services Inc., Expanding Newrez LLC’s Servicing Portfolio and Subservicing Platform
Rithm Capital Corp. (RITM)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Rithm Capital Corp. (NYSE: RITM; “Rithm Capital”) today completed its previously announced acquisition of Computershare Mortgage Services Inc. and certain affiliated companies, including Specialized Loan Servicing LLC (“SLS”). Immediately following the closing of the acquisition, SLS merged into Newrez LLC (“Newrez”).Transaction highlights:Adds ~$149b in unpaid principal balance of servicing UPB, of which $104b third-party and other servicing to Newrez portfolioAdds new third-party clients and increases existing client wallet share, significantly expanding Newrez’s subservicing and special servicing businessesAdds co-issue MSR acquisition capabilities to Newrez originations platformProvides Newrez added operating leverage through additional scale“This milestone marks another chapter in our history of strategic acquisitions to build a leading mortgage banking franchise – a core strategy of Rithm’s growth as we scale and diversify as an alternative asset m
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RITM
News
- Rithm Capital Corp. (NYSE: RITM) had its price target raised by analysts at Piper Sandler from $10.50 to $12.50. They now have a "neutral" rating on the stock.MarketBeat
- Rithm Capital Corp. (NYSE: RITM) had its "buy" rating re-affirmed by analysts at B. Riley. They now have a $14.00 price target on the stock, up previously from $13.00.MarketBeat
- Rithm Capital Corp. (NYSE: RITM) had its "outperform" rating re-affirmed by analysts at Wedbush. They now have a $13.00 price target on the stock.MarketBeat
- Rithm Capital Corp. (NYSE: RITM) had its price target raised by analysts at Keefe, Bruyette & Woods from $12.00 to $12.50. They now have an "outperform" rating on the stock.MarketBeat
- Rithm Capital Corp. Completes Acquisition of Computershare Mortgage Services Inc., Expanding Newrez LLC's Servicing Portfolio and Subservicing Platform [Yahoo! Finance]Yahoo! Finance
RITM
Earnings
- 4/30/24 - Beat
RITM
Sec Filings
- 5/3/24 - Form 10-Q
- 5/1/24 - Form 8-K
- 4/30/24 - Form 4
- RITM's page on the SEC website