Dec. 1 at 11:27 PM
$RITM Something we need to fix.....NewRez trades at 1 x adjusted book value, around
$4.4 billion or about
$8 of our share price is NewRez. Mr. Cooper
$COOP sold to
$RKT for 2 x adj. book value. NewRez is the same as COOP, so common sense says if NewRez were liquidated there is no reason it should not be worth 2 x adj. book value. So common sense tells us NewRez alone is worth
$16 a share. Some how, RITM has to find a way to get the proper value out of NewRez/Caliber. It's like RITM has forgotten they own Caliber Home Loans. I mean, wtf did we buy Caliber if we are not gonna make money on that name? I think they need to stop fkn around and spin off NewRez/Caliber at a value of about
$8 Billion. Give it to shareholders and then let RITM go for it as a C Corp and manager of the REIT they spun off. As long as NewRez is the gold goose that is supporting Crestline, Sculptor,
$PGRE, Genesis NewRez is never going to get proper value. Spin that fker off!! Then let RITM fight to grow.
