YBR Carlton offers clients the tools and expertise they need to achieve their property aspirations.Īs clients develop a plan for their property goals, we discuss pressing issues such as product features to suit individual circumstances.īy having the tools and expertise within the one office, clients are then able to make their own educated decisions with the guidance of professionals who live and breathe their own advice. Our mortgage brokers and financial planners assist people in fulfilling their property dream. We believe in establishing long term relationships with our clients, built on trust and a commitment to provide specialised professional advice. For the same quarter in 2020, the company lost $1.6 billion as it took a big hit on the value of its mortgage investment portfolio.Yellow Brick Road Carlton is mortgage broking company dedicated to giving all Australians access to quality mortgage advice. The company is expecting to report net earnings between $275.2 million and $300.9 million. New Residential also disclosed preliminary first quarter results during the call. The deal also creates opportunities for New Residential to grow its jumbo and non-qualified mortgage origination lines, Nierenberg said. "I think the high level of recapture rates really helps with customer satisfaction and that's something that we really want to strive to continue to get better at." "The high retention rates give us more cash flow, so it extends the cash flow and obviously gives you higher yield it protects the MSR asset, and improves our net origination margins," Nierenberg said. And if you think about the scale and the size of our operating business and our customer base and our MSR portfolio, this should be a huge benefit for our overall combined company."Ĭaliber's retail channel recapture rate for purchase loans was 57% last year. He pointed to Caliber's 54% recapture rate on refinances in 2020 (down from 58% in 2019), calling this "one of the things that Sanjeev and his team have done extremely well. Nierenberg praised Caliber's portfolio retention success, another area that he was seeking to improve at NewRez. New Residential's stock opened trading Wednesday morning at $10.55 per share, down $0.38 from Tuesday's close. Closing of the Caliber acquisition is expected sometime in the third quarter of this year. New Residential also announced Wednesday that it is going to sell 45 million of its own shares (plus an underwriters' option for an additional 6.75 million shares) in a public offering to help pay for the transaction. The deal will be funded using $675 million in cash and liquidity already on hand at New Residential, plus $500 million of excess liquidity on Caliber's balance sheet. On the servicing side, New Residential handled $435 billion at year end, while Caliber's portfolio was at $141 billion. The deal will help to move NewRez' origination mix away from the heavy concentration of correspondent loan purchases (61% of 2020's total production) to a more even split between retail (30%) and correspondent (33%). it significantly ramps New Residential's origination capabilities, which we see helping potentially enhance the risk management of the mortgage servicing rights portfolio," Eric Hagen of BTIG said in a research note. "We view the deal terms positively considering. The transaction will create a mortgage originator that on a pro forma basis produced $142 billion in loan volume last year, with $80 billion from Caliber and $62 billion from NewRez. "And I think that we don't have the answer right now." "As we look forward, whether we spin it out, make it public keep it as part of NRZ, we're going to do what we think is best for our shareholders and make sure that we are extremely well equitized," Nierenberg said.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |