General World News

Rithm Capital might spin off its mortgage biz

Investors haven’t exactly treated publicly traded mortgage companies very kindly over the past 12 months. To that end, Rithm Capital, the real estate investment trust that operates NewRez, Caliber and several other businesses, is considering spinning off the mortgage division to aid its flagging stock, which company executives described as “extremely undervalued.”

“Our third-party fund business continues to be a major focus as we transition to growing our business as an alternative asset manager,” President and CEO Michael Nierenberg said during the REIT’s Thursday details ⇒

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