New Residential Investment Corp. Announces Strategic Investment in Covius Holdings

NEW YORK & DENVER–(BUSINESS WIRE)–New Residential Investment Corp. (NYSE:NRZ, “New Residential”) announced
today that it has entered into agreements to make a strategic investment
in Covius Holdings Inc. (“Covius”), a leading provider of
technology-enabled services to the financial services industry. These
services include: settlement and title, document and letter fulfillment,
regulatory compliance, quality assurance, commercial and residential
loan due diligence and business process automation. Covius is actively
expanding its services into other product categories of importance to
the mortgage industry and intends to use the proceeds from the
investment to support strategic acquisitions and various other growth

Following the investment, New Residential will own a minority stake in
Covius, with an option to increase its ownership position through
specified future investments. Aquiline Capital Partners, a New York and
London-based private equity firm investing in financial services and
technology, has been Covius’ majority shareholder since 2014 and will
continue to be following the transaction. The closing of the transaction
is subject to satisfaction of certain closing conditions.

We are excited to announce today’s partnership with Covius and Aquiline
and take our first step into mortgage technology solutions,” said
Michael Nierenberg, Chairman, Chief Executive Officer and President of
New Residential. “With this transaction, we are making a strategic
investment in one of the leading providers of services that are
important to our businesses and to the broader mortgage market. As the
need for technology in the mortgage industry grows in focus and
significance, this investment represents progress in New Residential’s
efforts to drive innovation and create additional value from our
mortgage investment portfolio. Covius has a distinguished track-record
of providing leading and trusted services to its customers and we look
forward growing the partnership for the long-term benefit of our

Rob Clements, Chairman and Chief Executive Officer of Covius added: “For
the past 18 months, our strategy has been to build an end-to-end suite
of technology-enabled services—both organically and through strategic
acquisitions. Our ability to attract a sophisticated investor like New
Residential reflects the soundness of our strategy and the quality of
our offerings. We intend to use this capital to further enhance our
offerings, invest in our technology platform and pursue complementary


New Residential focuses on opportunistically investing in, and actively
managing, investments principally related to residential real estate.
New Residential primarily targets investments in mortgage servicing
related assets and other related opportunistic investments. New
Residential is organized and conducts its operations to qualify as a
real estate investment trust (“REIT”) for federal income tax purposes.
New Residential is managed by an affiliate of Fortress Investment Group
LLC, a global investment management firm.


Covius is a trusted provider of services, insight and technology to
leading financial companies. Covius’ technology-enabled solutions
deliver operational efficiencies, mitigate risk and empower confident,
compliant decisions and borrower interactions. Covius businesses are
recognized leaders in quality assurance, regulatory compliance,
compliant document services, comprehensive settlement services, lien and
title curative solutions, as well as rapid development, customizable
cloud-based business process solutions. The company was recently
named one of HousingWire’s 2019 Tech 100 winners. Covius Holdings is a
portfolio company of Aquiline Capital Partners, a New York-based private
equity firm investing in financial services. For more information about
the company and its services, visit


Aquiline Capital Partners, founded in 2005 and based in New York and
London, is a private equity firm investing in businesses across the
financial services sector in banking and credit, insurance, investment
management, and financial technology and services. For more information
about Aquiline, its investment professionals, and its portfolio
companies, please visit:


Certain information in this press release constitutes as
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995, including, but not limited to
the potential transaction and the parties’ strategy and growth
opportunities. These statements are not historical facts. They represent
management’s current expectations regarding future events and are
subject to a number of trends and uncertainties, many of which are
beyond our control, which could cause actual results to differ
materially from those described in the forward-looking statements.
Accordingly, you should not place undue reliance on any forward-looking
statements contained herein. For a discussion of some of the risks and
important factors that could affect such forward-looking statements, see
the sections entitled “Cautionary Statements Regarding Forward Looking
Statements,” “Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” in New Residential’s
annual and quarterly reports and other filings filed with the U.S.
Securities and Exchange Commission, which are available on New
Residential’s website (
New risks and uncertainties emerge from time to time, and it is not
possible for New Residential to predict or assess the impact of every
factor that may cause its actual results to differ from those contained
in any forward-looking statements. Forward-looking statements contained
herein speak only as of the date of this press release, and New
Residential expressly disclaims any obligation to release publicly any
updates or revisions to any forward-looking statements contained herein
to reflect any change in New Residential’s expectations with regard
thereto or change in events, conditions or circumstances on which any
statement is based.


New Residential Investor Relations

Covius Media
Bill Campbell
Lewis Communications

Aquiline Capital Partners Media
Alex Yankus / Harry Mayfield

Laurel McBride real estate agent with Century 21 N and N Realtors with homes for sale in Logan Utah