Michael Nierenberg worked at the Bank of America Merrill Lynch from November 2008 as the head of Securitized Products and Global Mortgages. He specialised in overseeing trading and sales activities in the division. He served the same bank as the Managing Director before joining Fortress in the same position to date. His working experience in management ranges back to the years he worked in JP Morgan as the management committee member and Global Securitized Products head of the investment bank. Michael Nierenberg worked in leadership dockets of other organisations for a decade and a half including Bear Stearns as the head of foreign exchange trading operations and interest rate. He also worked in the same organization as co-head of mortgage backed securities trading and structured products. Michael served Bear Stearns as a member of Board of Directors from 206 for two years.
Before joining Bear Stearns, Michael Nierenberg helped Lehman Brothers operate its mortgage business for seven years. Currently, he serves as the President and Chief Executive Officer of NRZ, New Residential Investment Corp. The Company started operations in 2011 and specialises in managing real estate investments by bringing forth the risk-adjusted returns from entities including MSR, Excessive Mortgage Servicing Rights, and Servicer Advances. Additionally, the firm deals with non-Agency and associated call rights mortgage-backed securities. In 2018, Michael Nierenberg says that New Residential Investment Corp was doing well because in the year’s third quarter it has witnessed an increase in non-agency mortgage securities and MSR, Mortgage Servicing Rights. Michael noted that the improvement was an indication of growth and the callable population expected to rise.
He added that the company looked forward to an increase in investment activities and a more vibrant industry. Addressing the issue of market sustainability, Michael Nierenberg advised the New Residential Investment Corp to remain cautious in the market and avoid falling but assured them that there are numerous investment opportunities for the company. Under his expertise leadership of Nierenberg, one of the company’s third-party business partner, Shell point, offered more loans to old and new company’s clients. Besides, Shellpoint’s portfolio continues to rise. Nierenberg has helped the company maintain its access to availability and liquidity of capital thus sustaining its investment strategy. Click here.