Houlihan Lokey Advises Shellpoint Partners

Houlihan Lokey is pleased to announce that Shellpoint Partners LLC (Shellpoint) has been acquired by a subsidiary of New Residential Investment Corp. (New Residential) (NYSE:NRZ), together with its subsidiaries, for approximately $190 million, subject to certain adjustments plus potential additional consideration pursuant to a three-year earnout based on the performance of Shellpoint after closing. The transaction closed on July 3, 2018.

Founded in 2010 and based in New York, Shellpoint is a vertically integrated mortgage platform with established origination and servicing capabilities. Through its subsidiaries, Shellpoint provides mortgage lending solutions in all 50 states and is an approved Fannie Mae and Freddie Mac seller and servicer as well as a Ginnie Mae issuer. Shellpoint has servicer ratings from S&P, Moody’s, and Fitch with a servicing portfolio of approximately $50 billion and LTM origination volume of approximately $6.6 billion.

New Residential is a publicly traded real estate investment trust (REIT) focusing on residential real estate investments. New Residential holds a combined MSR and excess MSR portfolio with an aggregate UPB totaling $533 billion as of September 30, 2017, and is externally managed by an affiliate of Fortress Investment Group LLC.