Business Context and Reporting Period
This Form 8-K was filed by New Residential Investment Corp. on September 7, 2018. The report details the entry into a material definitive agreement regarding the company's master trust financing facility. Note: The request metadata referenced "Rithm Capital Corp.", but the filing text explicitly identifies the registrant as New Residential Investment Corp.
Key Financial Metrics
This filing is a current report regarding a legal agreement and does not contain financial statements. Consequently, there are no reported values for revenue, profit, cash flow, margins, debt, or liquidity in this document.
Material Changes
The primary material change is the amendment of the existing indenture and indenture supplements for the NRZ Advance Receivables Trust 2015-ON1. These amendments were executed to permit the continued financing of monthly advances, servicing advances, and deferred servicing fees following the transfer of servicing rights from Ocwen Loan Servicing, LLC to Shellpoint Mortgage Servicing (New Penn Financial, LLC). This transfer was previously disclosed in an 8-K filed on August 17, 2018.
Guidance, Outlook, and Risks
The filing does not provide forward-looking guidance, management commentary on future performance, or specific risk factors beyond the operational necessity of amending the financing facility to accommodate the change in servicer. The agreement ensures the continuity of financing for private label residential mortgage loan servicing agreements under the new servicing arrangement.
Investor Verification Checklist
- Verify the successful execution of the transfer of servicing rights from Ocwen to Shellpoint as referenced in the August 17, 2018 filing.
- Confirm that the amended indenture (Exhibit 4.1) and omnibus amendment (Exhibit 4.2) are legally binding and effective for the NRZ Advance Receivables Trust 2015-ON1.
- Review the impact of the servicer change on the company's future servicing advance requirements and cash flow timing.
- Ensure the company's credit facilities with Credit Suisse AG and JPMorgan Chase Bank, N.A. remain intact under the new terms.