Real estate investment trust Rithm Capital, the parent of multichannel lender Newrez, has agreed to issue a one-year loan, purchase common stock and become the external manager of its peer Great Ajax Corp.

New York-based Rithm Capital engaged in acquisitions last year to become a global asset manager focused on real estate. This year, it restructured its distributed retail business in a shrinking mortgage market, cutting managers and reducing compensation at NewRez, a top 10 mortgage lender and servicer.

Michael Nierenberg, CEO, chairman and president of Rithm Capital, said in a statement that details ⇒

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