The uneven stock performance of non-bank lenders who recently went public has given New Residential Investment, which is considering its own IPO for the New Rez division, a break.
"We believe it will create more value for shareholders by separating the company and bringing it to the public market," said Michaelörenberg, chairman, CEO and president, on his fourth quarter conference call. "But as you have seen from some of the recent trials … some of them have gone okay; others have not done so well."
A confidential registration statement was filed in November. Should there be a public offering, the two companies would still be intertwined as New Residential would likely hold a significant stake in a publicly traded NewRez, he said.
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