Michael Nierenberg is currently the chief executive officer and the current president of the real estate investment trust New Residential Investment Corp. In addition to this, he is also a member of the Board of Directors and is the chairman since 2016. As of June 2018, Wallmine reported that Nierenberg’s net worth is at least $43.8 million. Before his ventures in New Residential Investment Corp, Michael Nierenberg worked as the chairman of Samuel Waxman Cancer Research Foundation in 1996. After that, he spent seven years working at Lehman Brothers before ultimately joining the Bear Stearns for fourteen years.
During his stay at Bear Stearns, he held a lot of leadership positions such as the head of interest rate and foreign exchange trading operations, and both co-head of structured products and mortgage-backed securities trading. After his stay in the Bears Stearns, Nierenberg worked at JP Morgan as the head of Global Securitized Products. Michael Nierenberg also gathered experience as a managing director and head of Global Mortgages and Securitized Products during his stay at Bank of America Merrill Lynch. He was also the Managing Director in Fortress Investment Group before founding the New Residential Investment Corp in 2011. Because of Nierenberg’s leadership, NRZ became one of the top performers in the industry.
Nierenberg is able to take advantage of challenges in order to improve the position of the company. In addition, New Residential Investment Corp was able to provide $0.50 dividends to its shareholders for three quarters last 2018. Michael Nierenberg’s accumulated experiences during his tenures in different companies enable him to steer the NRZ’s wheel into a better position. He is able to improve the firm’s position even in tax changes such as the Tax Cuts and Jobs Act that raises rates in 2017. He makes sure that the firm’s assets will still be able to yield value even during the high rates. New Residential Investment Corp is a real estate investment trust or REIT that specializes in investments related to residential real estate. The firm is usually targeting investments in excess mortgage servicing rights or Excess MSRs, residential mortgage-backed securities or RMBS, and residential mortgage loans. The firm is also open in investing other opportunistic investments.