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New Residential Investment (NRZ) Q4 2021 Earnings Call Transcript – Motley Fool

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New Residential Investment (NYSE:NRZ)Q4 2021 Earnings CallFeb 08, 2022, 8:00 a.m. ET


Prepared Remarks Questions and Answers Call Participants


Image source: The Motley Fool.

New Residential Investment (NYSE:NRZ)
Q4 2021 Earnings Call
Feb 08, 2022, 8:00 a.m. ET


  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:


Good day, and welcome to the New Residential fourth quarter and full year 2021 earnings call. [Operator instructions] Please note, this event is being recorded. I would now like to turn the conference over to Bohe Yu. Please go ahead.

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Thank you, Jason, and good morning, everyone. I would like to thank you for joining us today for New Residential’s fourth quarter 2021 earnings call. Joining me today are Michael Nierenberg, chairman, CEO and president of New Residential; and Nick Santoro, chief financial officer of New Residential. Also with us today are Baron Silverstein, president; and Jordan Licht, chief operating officer of New Res and Caliber.

Throughout the call, we are going to reference the earnings supplement posted to the New Residential website this morning. If you have not already done so, I’d encourage you to download the presentation now. I would like to point out that certain statements today will be forward-looking statements. These statements, by their nature, are uncertain and may differ materially from actual results.

I encourage you to review the disclaimers in our press release and earnings supplement regarding forward-looking statements and review the risk factors contained in our annual and quarterly reports filed with the SEC. In addition, we will be discussing some non-GAAP financial measures during today’s call. Reconciliations of these measures to the most directly comparable GAAP measures can be found in our earnings supplement. And with that, I will turn the call over to Michael.

Michael Nierenberg — Chairman of the Board, Chief Executive Officer, and President

Thanks, Bohe. Good morning, everyone, and thanks for dialing in. 2021 was a very good year for our shareholders and our company as we continued our strategy of building and acquiring world-class operating companies with the ability to manufacture assets for our own balance sheet as well as an investment portfolio that’s very hard to replicate. The positioning of our company today as well as the investment experience of our team, should enable us to drive strong returns for shareholders as we go forward.

With interest rates rising, our MSR portfolios will see much slower amortization, keeping our customers through our retention efforts should drive book value higher and offset any decrease in origination earnings. We have one of the largest MSR portfolio today and MSRs do rise in value as …….


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