Michael Nierenberg has been the Chairman of the Board, President, and Chief Executive Officer of New Residential Investment since 2016.Prior to becoming the Chief Executive Officer of New Residential, Michael held a wide range of senior management positions with multiple companies. Mr. Nierenberg spent seven years at Lehman Brothers preceding to joining Bear Stearns and was influential in building the company’s adjustable rate mortgage business. Michael Nierenberg’s knowledge, talent, know-how and experience led the Board of Directors to conclude that Mr. Nierenberg should serve as a director of the company.
New Residential Investment Corp. is a real estate investment trust that emphases investing in, and enthusiastically managing, investments primarily related to residential real estate.
New Residential was fashioned as a wholly owned subsidiary of Newcastle Investment Corp. They were spun off as a separate publicly-traded unit on May 15, 2013. They are externally managed and counseled by an associate of Fortress Investment Group LLC. This allows them to benefit from the resources of a diversified global alternative investment manager.
Michael Nierenberg and New Residential’s objective is to leverage established investment expertise to distribute returns that will help drive robust and mounting dividends to shareholders. They target assets that produce steady long-term cash flows and employ conventional capital structures to produce returns throughout diverse interest rate environments.
With Mr. Nierenberg’s direction, New Residential has become one of the most aggressive investors of mortgage-servicing rights. During the last decades the intricacies of the market for residential mortgage loans in the United States has intensely amplified. New Residential believes that advances in the approximately $21 trillion U.S. residential housing market are producing momentous investment prospects.
Michael lives in the New York City suburb of Port Washington with his family. Michael Nierenberg also serves as chairman of the Waxman Foundation, a group devoted to raising money for cancer exploration directed by its global system of scientists to cure cancer through genetic reprogramming. Michael and his wife also actively support the United Jewish Appeal, UJA, and other Jewish organizations.
Michael Nierenberg’s: Twitter