New Residential Investment Corp. (“NRZ,” “New Residential”)
today announced key leadership additions to its mortgage
subsidiary, NewRez LLC (“NewRez”), including Baron Silverstein as
President and Neeraj Kalani as Chief Marketing Officer. Both of
these hires come as NewRez continues to grow its mortgage platform
and emphasize its customer experience.
“I am very pleased to announce the additions of Baron and Neeraj
to our NewRez team,” said Michael Nierenberg, Chairman, Chief
Executive Officer and President of New Residential. “Under the
leadership of Bruce Williams and his team, NewRez has made strong
progress over the past few years to advance its position as a
world-class mortgage platform and I believe we will further benefit
from Baron and Neeraj joining the ranks of this very talented
group. This is an exciting time for NewRez and we expect these
additions will help contribute to additional growth, customer
experience and shareholder value.”
President of NewRez
Baron Silverstein has been named as President of NewRez and will
join NewRez’s executive leadership team, reporting to Bruce
Williams, Chief Executive Officer of NewRez. In his role, Mr.
Silverstein will oversee all operating divisions within the NewRez
family of companies.
“We are thrilled to add Baron to our executive team,” said Bruce
Williams, Chief Executive Officer of NewRez. “Baron is a highly
respected and proven leader with extensive experience and expertise
in the mortgage industry. We look forward to the impact he will
have driving our mortgage platform forward.”
A 30-year industry veteran, Mr. Silverstein adds a wealth of
mortgage and capital markets experience to NewRez. Mr. Silverstein
has spent the last 12 years at Bank of America Securities, most
recently as Head of Residential Mortgage Finance, where he was
responsible for all mortgage loan activity relating to advisory,
securitization, lending, servicing and due diligence on behalf of
the markets business. Prior to Bank of America Securities, Mr.
Silverstein held leadership roles at J.P. Morgan as Co-Head of U.S.
RMBS Mortgage Finance Department, and at Bear Stearns & Co.
Inc. as Senior Managing Director of the Mortgage Department and
Co-Head of U.S. RMBS Mortgage Finance Market. Throughout his
career, Mr. Silverstein has managed and led mortgage and capital
markets platforms through a variety of transitions and market
backdrops.
Chief Marketing Officer of NewRez
Neeraj Kalani joins NewRez in the newly created role of Chief
Marketing Officer, where he will oversee the planning, development
and execution of marketing, customer experience and omni-channel
advertising efforts across both the origination and servicing
businesses. NewRez’s investment in integrated marketing and digital
capabilities ties directly to the company’s increased emphasis on
growing its origination and servicing presence and building its
customer-centric focus.
“Neeraj is an outstanding addition to our team as he brings deep
marketing experience across a variety of industries and products.
He has a successful track record of building brand recognition and
we are thrilled for him to join our team and further define our
marketing approach,” said Bruce Williams, Chief Executive Officer
of NewRez.
Mr. Kalani has over 20 years of corporate marketing, customer
strategy and digital experience with a career that has spanned
multiple industries and product lines. Most recently, Mr. Kalani
was Head, Global Customer Strategy at Pfizer Inc., where he led
customer-centric capabilities and digital transformation efforts,
creating persona-based customer engagement, experience and brand
loyalty strategies. Before Pfizer, Mr. Kalani spent 11 years at
PepsiCo in a variety of sales strategy, brand strategy and insights
roles supporting U.S. and global markets. Prior to joining PepsiCo,
Mr. Kalani worked at The Clorox Company in Shopper Strategy and
Brand Innovation, at General Electric as a retail consultant and at
Hewlett Packard in the eCommerce Program Management group.
ABOUT NEW RESIDENTIAL
New Residential is a leading provider of capital and services to
the mortgage and financial services industries with a proven track
record of returns and performance. The Company’s mission is to
generate attractive risk-adjusted returns in all interest rate
environments through a portfolio of investments and operating
businesses. With approximately $45 billion in assets as of December
31, 2019, New Residential has built a diversified,
hard-to-replicate portfolio with high-quality investment strategies
that have generated returns across different interest rate
environments over time. New Residential’s portfolio is composed of
mortgage servicing related assets (including investments in
operating entities consisting of servicing, origination, and
affiliated businesses), residential securities (and associated
called rights) and loans, and consumer loans. New Residential’s
investments in operating entities include its mortgage origination
and servicing subsidiary, NewRez, and its special servicing
division, Shellpoint Mortgage Servicing, as well as investments in
affiliated businesses that provide services that are complementary
to the origination and servicing businesses and other portfolios of
mortgage related assets. Since inception in 2013, New Residential
has a proven track record of performance, growing and protecting
the value of its assets while generating attractive risk-adjusted
returns and delivering approximately $3.3 billion in dividends to
shareholders. New Residential is organized and conducts its
operations to qualify as a real estate investment trust (“REIT”)
for federal income tax purposes. New Residential is managed by an
affiliate of Fortress Investment Group LLC, a global investment
management firm, and headquartered in New York City.
ABOUT NEWREZ
NewRez is a leading nationwide mortgage lender and servicer. As
a lender, NewRez provides refinance opportunities to eligible
existing servicing customers, primarily through its
direct-to-consumer channel, and also originates or purchases loans
from brokers or originators through retail, wholesale and
correspondent channels. NewRez’s servicing division includes its
performing loan servicing division, NewRez Servicing, and its
third-party client and special servicing division, Shellpoint
Mortgage Servicing (“SMS”). NewRez Servicing services current
agency, non-agency and government-insured loans for New
Residential. SMS services performing loans for third-party clients
and delinquent agency loans and non-agency loans. SMS serves a wide
range of clients nationwide, including leading banks, loan
originators, and private equity firms—all of whom value the
company’s reputation for creating positive mortgage-payment
experiences. NewRez also has several affiliates that perform
various services in the mortgage and real estate industries. These
include Avenue 365 Lender Services, LLC, a title agency, and
eStreet Appraisal Management LLC, an appraisal management company.
Headquartered in Fort Washington, Pennsylvania, NewRez is a
subsidiary of New Residential Investment Corp. More information is
available at www.newrez.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this press release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not
limited to, statements relating to (i) the Company’s ability to
build a world-class mortgage platform, (ii) improvements in growth,
customer experience and shareholder value at NewRez and (iii)
ability to drive our mortgage platform forward. These statements
are based on management’s current expectations and beliefs and are
subject to a number of trends and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements, many of which are beyond our control.
The Company can give no assurance that its expectations will be
attained. Accordingly, you should not place undue reliance on any
forward-looking statements contained in this press release.
For a discussion of some of the risks and important factors that
could affect such forward-looking statements, see the sections
entitled “Risk Factors” in the Company’s most recent Annual Report
on Form 10-K, as well as the sections entitled “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” from the Company’s most recent Annual Report on Form
10-K. In addition, new risks and uncertainties emerge from time to
time, and it is not possible for the Company to predict or assess
the impact of every factor that may cause its actual results to
differ from those contained in any forward-looking statements. Such
forward-looking statements speak only as of the date of this press
release. The Company expressly disclaims any obligation to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company’s
expectations with regard thereto or change in events, conditions or
circumstances on which any statement is based.
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version on businesswire.com: https://www.businesswire.com/news/home/20200309005790/en/
New Residential Investor Relations Kaitlyn Mauritz
212-479-3150 IR@NewResi.com
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