Houlihan Lokey acted as a financial advisor to the Company in connection with the acquisition.
Of the total approximately $3.2 billion of servicing advances, $2.4 billion of advances were funded on December 17, 2013, and the remaining $0.8 billion are anticipated to be fully funded by mid-January, subject to various conditions.
Please refer to Forward Looking Statements below.
For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investor Relations section of the Company’s website, www.newresi.com.
CONFERENCE CALLNew Residential’s management will host a live call today at 10:00 AM Eastern Time to discuss the acquisition. All interested parties are welcome to participate on the live call. The call may be accessed by dialing 1-866-393-1506 (from within the U.S.) or 1-706-634-0623 (from outside of the U.S.) ten minutes prior to the scheduled start of the call; please reference “New Residential Investor Call.” A telephonic replay of the call will also be available two hours following the call’s completion through 11:59 P.M. Eastern Time on Tuesday, December 31, 2013 by dialing 1-855-859-2056 (from within the U.S.) or 1-404-537-3406 (from outside of the U.S.); please reference conference code “25676811.” ABOUT NEW RESIDENTIAL New Residential focuses on opportunistically investing in, and actively managing, investments related to residential real estate. The Company primarily targets investments in: (1) mortgage servicing related assets, (2) residential mortgage backed securities (“RMBS”), (3) residential mortgage loans and (4) other related investments. New Residential is organized and conducts its operations to qualify as a real estate investment trust (“REIT”) for federal income tax purposes. The Company is managed by an affiliate of Fortress Investment Group LLC, a global investment management firm.
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