Permanent Capital Vehicles, Private Equity
Date published: 2-Jan-2019
New Residential Mortgage LLC (“NRM”) is capitalized and managed by its managing member and sole stockholder, New Residential Investment Corp. (NYSE: NRZ). NRZ is a publicly traded real estate investment trust focused on opportunistically investing in, and actively managing, investments primarily related to residential real estate. NRZ is managed by an affiliate of Fortress Investment Group LLC (“Fortress”), a global investment management firm.
In 2016, NRM became licensed or otherwise eligible to hold MSRs in all states within the United States and the District of Columbia. NRM has received approval from the Federal Housing Administration (“FHA”) to hold MSRs associated with FHA-insured mortgage loans, from the Federal National Mortgage Association (“Fannie Mae”) to hold MSRs associated with loans owned by Fannie Mae, and from the Federal Home Loan Mortgage Corporation (“Freddie Mac”) to hold MSRs associated with loans owned by Freddie Mac. NRM engages third party licensed mortgage servicers as subservicers to perform the operational servicing duties in connection with the MSRs it acquires. NRM currently services a portfolio of approximately $380 billion unpaid principal balance as of September 30, 2018. To learn more about NRM visit the New Residential Investment Corp. website at www.newresi.com.
About The Position
The position will be an employee of Fortress allocated to NRZ. Within NRZ, the position is expected to help with the accounting at NRM, the licensed mortgage subsidiary. As an Accountant or Senior Accountant at NRM, you will gain exposure to the technical accounting and operations surrounding the financial products in the portfolio, such as MSRs, Servicer Advances, and Excess Spread Financings. You will learn about the accounting requirements surrounding the acquisition of assets and accessing capital markets.
You will be directly involved with the implementation of new accounting infrastructure and will assist in the development and establishment of processes for the business. In working for a regulated entity, you will help with monthly and quarterly reporting to regulators, and year-end stand-alone financial statements. As NRM is also a subsidiary of a publicly listed REIT, you will also help with the financial reporting and data that is used to develop 10K, 10Q and other SEC required filings for NRZ.
Fortress Investment Group LLC collectively with its subsidiaries and operating affiliates is an equal opportunity employer and considers all applicants for employment without regard to race, religion, creed, color, sex, age, national origin, citizenship status, disability, genetic information, protected veteran status, marital status, sexual orientation, gender identity, or any other status protected by federal, state or local law.