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REIT New Residential Snags Mortgage Originator For $190M

Law360, New York (November 29, 2017, 3:18 PM EST) -- Publicly traded real estate investment trust New Residential Investment Corp. on Wednesday said it inked a $190 million deal to acquire residential mortgage origination and investment company Shellpoint Partners LLC.

The boards of directors for both companies have approved the deal, which is still subject to adjustment, though there could be additional consideration related to a three-year earnout based on Shellpoint’s performance after the deal closes, New Residential said.

“We are extremely pleased to announce the agreements to acquire Shellpoint,” New Residential CEO, president and chairman...
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