Michael Nierenberg is a big name in the real estate industry. He is at the helm of New Residential Corp, a real estate investment trust serving as Chairman, Chief Executive Officer and President at the company. He also serves as a Chairman at Samuel Waxman Cancer Research Foundation. He held the position of a Managing Director at Fortress.
He has extensive experience in the real estate sector. He has served as a Managing Director and head of Global Mortgages as well as Securitized Products at Bank of America Merrill Lynch. He was in charge of all trading and sales activities within the division. He also spent some time working at JP Morgan as the head of Global Securitized Products and member of the management committee of the firm.
He worked at Bear Steams for fourteen years. At the company, some of the positions he held include head of interest rate and foreign exchange, co-head of structured products, and co-head of mortgage-backed securities trading. He served as a member of the Board of Directors of Bear Steams. Prior to Bear Steams, Michael Nierenberg worked for seven years at Lehman Brothers building the company’s adjustable rate mortgage business. He was promoted to sit on the company’s board of directors having demonstrated highest-level of skills, expertise knowledge and experience.
He is currently at the helm of New Residential Corp, a REIT that focuses on opportunistic investments as well as actively managing investments which are majorly in the residential real estate sector. It targets investments in the excess mortgage servicing rights, residential mortgage backed securities, residential mortgage loans and other opportunistic investments.
Michael Nierenberg is boosting New Residential Corp’s efforts to thrive in the residential housing market of the United States. The US residential market is worth approximately $19 trillion. There has been unfolding developments in the residential housing market that have created many investment opportunities. In the aftermath of the last financial crisis in the country, there have been a lot of transformations taking place that are bound to change how mortgages are owned, originated and serviced. The firm is always in the look for opportunities that will drive attractive risk adjusted returns and eventually, increase dividends to the company’s shareholders. New Residential Corp aims at long-term employ conservative capital structures as well as cash flows to generate more income throughout different interest environments.
Michael Nierenberg’s: Twitter.