Stock Buy - Chasing High Yield NRZ (100 shares, $180 div income)

New Residential Investment Corp. (NYSE: NRZ) is a real estate investment trust investing and managing excess mortgage servicing rights.  A mortgage servicing right (“MSR”) provides a mortgage servicer with the right to service a pool of mortgage loans in exchange for a fee.

Despite current mortgage rates at historic lows (bad for NRZ), tight lending standards and banking regulations have actually helped NRZ get more business from banks who owned a majority of MSRs. 

The recent events in Europe (Brexit) has ensure that interest rates will be lower for longer but this will not last forever. Eventually interest rates will start to rise again. In the meantime I'll gladly collect the 14% dividend and using it to buy more shares :)

This purchase will add $180 dividend income to my dividend stock portfolio

Basic info:
Market CAP: 2.95B     EPS:$1.44   Dividend: $1.84 (14.10%)