New Residential Prepares to Unlock the Hidden Value in Its Stock

New Residential Prepares to Unlock the Hidden Value in Its Stock

Mortgage originators are having a banner year, and the market for mortgage banking initial public offerings (IPOs) has been hot. The Mortgage Bankers Association (MBA) forecasts that mortgage origination volume will hit $3.2 trillion this year, the highest since 2003. Another mortgage company striking while the iron is hot is New Residential Investment (NYSE: NRZ).