In May 2016, Michael was named to be the chairperson of the board, and in 2013 he was appointed to be the president and the chief executive officer. Before becoming a top executive officer of the New Residential Investment Corp, Michael Nierenberg was a top executive officer and the head of the global mortgages at the Bank of America. Throughout his career, Nierenberg has held various positions in different companies including senior leadership positions in the finance and mortgage industry.

Using Excess Mortgage Servicing Rights as Assets by Michael Nierenberg

In his career, Michael Nierenberg continued to support the investment potential for the excess mortgage servicing rights for the past few years. As the chief executive officer, the president and the board chairperson of the New Residential Investment Corp, Michael has been a leader and innovator in residential mortgage loan and investment market.

According to Michael Nierenberg, one of the essential roles for a successful manager is to look for and find the undervalued properties on an ongoing basis. For the mortgage servicing rights, two primary needs for finalizing purchases of the specialized property are the strong long-term enterprise relationships and adequate capital resources. For complex investment assets like excess mortgage servicing rights, it’s crucial to have a deep understanding of both limitations and benefits.

Some of the benefits of investing in excess MSRs and mortgage servicing rights include new and substantial asset opportunities, potential to minimize impacts of the interest rate fluctuations, high-quality income flow opportunities and creation of opportunities due to lack of understanding. The limitations include lack of essential business partnerships which can prevent MSR transactions.

Solutions for the Residential Mortgage Investments

For the past few years, residential mortgages have been viewed as a complex financial issue and not an investment opportunity. Michael Nierenberg and the New Residential Investment Corp have proven to be noteworthy exceptions by creating innovative and helpful solutions for residential financial markets.

According to Nierenberg, many investors and residential mortgage-backed securities have been major problems and therefore overlooked as the potential properties for investment portfolios. Active portfolio management style is the only solution for residential mortgage investments.

 

Specializations
HGGC, a private equity firm, specializes in corporate carve-outs, add-on acquisitions, growth equity, leveraged buyouts, recapitalization, restructuring in middle markets and platform investments. Its primary investments are in North America with diversification in International opportunities.
Executive Leadership
i) Steve Young
The founding father to and chair of the Forever Young Foundation is a co-founder and Managing director. He holds membership in various committees of the firm: The Executive Committee, Fund II Investment Committee, and Fund I policy and the Investment Committee. He was formerly a co-founder and managing director of Sorenson Capital, a firm located in the Western United States. Steve has had a flourishing career from professional football in the NFL and being a corporate spokesperson for various successful companies such as Nike.
ii) Bob Gay
With a vast experience in private equity, Bob is a co-founder and the Executive Director at HGGC. He was the Managing Director and senior partner at Bain Capital from 1989 straight through to 2004. He as well oversaw Bain Capital Europe, responsible for the London and Munich offices of the firm.
iii) Neil White
The former analyst in the Private Equity Group at Och-Ziff Capital Management is a managing director and an integral member of the firm’s investor relations. He joined the company in 2009, two years after its incorporation. He is a BA holder in Economics from Bingham Young University.
iv) Greg Hughes
He is an executive director at HGGC effective from January 10th, 2017. The holder of Masters in Business Administration is also the Chief Executive Officer at Veritas. Formerly, he was a CEO at Serena Software where he foresaw the successful sale of Micro Focus International Plc. He as well holds a bachelors and Master’s degree in Electrical Engineering from Massachusetts.
v) Pat Dugoni
Pat, a former Investment Banking Analyst in the Natural Resources Group at Goldman Sachs, is the Vice President. He is the firm’s Fund II investments in FPX active member as well as Fund I investment in Innovative.
vi) Hudson Smith
The former manager, consultant and Case Team Leader at Bain and Company joined the firm in 2009 and is a Managing Director. He holds a BSc, Business Administration from Washington and Lee University.
vii) Richard Lawson
The finance director at SGM Contracts is a co-founder, managing partner, and CEO at HGGC. He was a participant in the Mergermarket Technology Forum of May 22nd, 2018.
viii) Gregory M. Benson
He is a managing partner and co-founder at HGGC.
https://www.nytimes.com/2015/03/05/business/dealbook/private-equity-firm-hggc-raises-1-3-billion-for-new-fund.html