New York City-based Rithm Capital Corp. (NYSE: RITM), an asset manager focused on the real estate and financial services industries, has entered into a definitive agreement with Australia’s Computershare Ltd. (ASX: CPU) to acquire Computershare Mortgage Services Inc. and certain affiliated companies, including Specialized Loan Servicing LLC (SLS), for a purchase price of approximately $720 million.
The acquisition includes approximately $136 billion in unpaid principal balance of mortgage servicing rights, of which $85 billion is third-party servicing, along with origination services business for SLS, which is based in Greenwood, Colorado. Following the close of the transaction, SLS’s portfolio and operations will be transitioned to and managed by Newrez LLC, a Rithm portfolio company.
“We are thrilled to welcome SLS to the Newrez family. Our track record of acquisitions in the mortgage servicing space continues to deliver value not only for our shareholders, but also for the millions of consumers we serve,” said Michael Nierenberg, chairman, CEO and president of Rithm Capital.
