year I'll morning importantly, of big through a the to company. you through mortgage presentation going about comments by the Kait. and think on company we off Thanks, take it around and is everyone, forward. this last Baron for here. the how bit kick some Obviously, Good giving morning, to excited you take more of little some going And team us. thanks the call joining a you
efforts reflect first at and us great painful, of put As I'm steps proud last we pre-COVID difficult the excited our initially the position we pandemic undertake for of the returning year, The of hit, march continue we towards while I'm to future had levels. super company. a to on when very our back earnings our in the look our period has team,
value the have we a rise, never last formerly known to year, company, been which as Partners, of seen grow and amortization financed, historic believe our From grow lows macro is should for portfolio servicing its to never MSR position we company. our some our earnings interest origination helped strides This to just rates our XXXX Our have view, NewRez, in for great our to in will have of the been us of put the help bright. be plummeting consolidate year our liquidity Shellpoint so. us company. better our recover This our we stronger, the as portfolio has will business. acquisition a and result With speeds portfolios enable NewRez, a lost has in faster and the our future or looks past MSR mortgage rates to seen over offset hitting
our mortgage about more going that likely the offset higher in And than result of think from speeds, you're slower combination portfolio, see cash should you X flow As the will to decline those rates. in MSR more recapture origination.
past On levels. of as amounts very investment lower than yields maintaining been cash the we larger at side, on focusing remain patient, have investment the in
the the expectation end cost MSR the down efforts reliance lock and QX. our debt is capital financing to will funding majority of financed repo financing. markets our our year, that It and financing be our of refinance reduced in Our on last of by
see deploy capital return for our for patient the remain looking opportunities shareholders. appropriate will to where We we risk
on gain rates, low had company side, and mortgage sale margins. a higher great year, by the driven origination NewRez large On volumes
earnings expect While channels increased are channel which our MSR volumes share, we to lead rates should our portfolio. higher for better in growth that to come market DTC excited about our we in very prospects and off, recapture
only million. a of company $X portfolio mortgage billion billion the in as company the relates $XX middle the innings of mortgages, earnings company, our we our growth, Partners frame working XXXX, $XX on $XXX on believe growth $XXX that year of and we acquired XXXX. branding originated approximately billion technology made servicing Shellpoint I the which $XX initiatives, Tremendous when XXXX, to our of MSRs of owned billion growth retention. it customer and and focusing to are end million originated with and in firmly at of and Just include upgrades, approximately of the ended mortgages, the
in On the do assistance, great their his working team enable different and side, be with focus job, need lives stay a programs continue our and servicing Navarro manage better who and helping to their with to homes. Jack we'll on to them them homeowners
great the I'll And our typical a as and that which supplement, has the begin they Finally, this dividends, look online. to in now earnings, growth to with shareholders refer appropriate from page. place going XXXX -- to Page is believe firmly growth enter expect is with I highlight our our forward with company been growing X. growing posted I'm we providing us.
formed So in $X.X in billion XXXX, -- the dividends. was since we over the company paid
today billion. equity of net have We $X.X
$XX.X shareholder and we the has excess our you largest our and securities assets inception loans of advances, since owner we're between in portfolio, nature market billion and XX%, When our billion. cap nonbank today is the the MSRs. in of servicer at MSRs, at full been of services business, Our diversified and XXXX, return look had $X.X end
servicing business. and origination Our
the income of side, and origination the we're originator. in $XXX our top ended nonbank at of XXXX we division, the year million $XXX.X volumes, mortgage business billion, On origination billion $XX.X UPB. pretax a servicing XX In
million, mortgage was the of servicers. one Our Page XX remain and pretax results. income we top X $XXX.X nonbank
quarter that Clearly, by was share. Core as earnings, related amortization portfolio. or per quarter, $X.XX per it million. $X.XX $XXX MSR diluted to affected our the Our income that higher net diluted share GAAP in saw for the we
dividend increase, XX% We our and million in $XXX and with X% the quarter, quarter-over-quarter the at cash. of $X.X our On quarter ended year quarter. of return dividend yield Again, raised we the fourth the of value book return $XX.XX. of was book billion, of stock shareholder XX% shareholder equity dividend end the
today, to flow of could like mortgage way from frame you which we during saw value to just a this of MSR sure our little you as it it give sum to detail. the little book as as business, essentially, bit more around result about us the quarter page. X, we X, we'll $XX.XX. the out on the investment Page I cash company. our affected the of dramatic calculation. prepayments. it interest But to the our is discuss parts a We higher see Just $XX.XX the you it, impact Page think fast are When tried book that from show negatively where page. have to reported Obviously, we we into resulted break shows forward is This a get value value we rates. Q&A, approximately today I'm portfolio, we bit the higher book
that New $XXX reported from you $X.XX value. the our effectively, After we more of of higher rates. million of for implied $X.X from company, a our new we that an $X we of the X, from income about in that $XXX EBITDA where give it we our you value do to an rates value creates administration clearly, range million is from for value peers an to what just put true they PE Enterprise environment tried see XXXX, mean a rate anywhere book share billion. what mortgage $X are we operating to X, we way think a off-balance and and EBITDA. between $XXX to value, there will we and do $X.X billion standpoint from We book had of trade. Residential? tax, the of sheet that and range increase and a to out took guestimate X spending above friends As anywhere implied the valuation that relates multiples to million. to a some in believe took think Page and When about
look forecasting the different same from most expectations are thing. at economists, If they you
show So bottom try on is $XX.XX. QX part of to as value what do the below book of we the page,
going and believe points from the as are XX at where end think you of X.X% to $X.XX, think points, is we we it be and XXX how in great value. the earnings we the related higher If we at be up basis think we $X.XX. all we to look XX-year ended in see we that these in about Again, XX prepayments, as interest value believe think could much MSR to rates, QX, our points, we book how about a treasury, up that increased guesstimates, implied higher historical change business, went basis XX-year basis -- back but values truly great, position book are to performance,
newer recapture recapture. production as to As go going the it's believe on Page really, a between we And in I side, And interest pre-COVID what core on slower lower we page, X, back similar we're get that we simplify earnings is up earnings result X, amortization, our probably have recapture say you this to page, basis to it been to see rates increase than initially of XX is look result Page our points. we at think company. again, the XX could just $X.XX on expected. mortgage rates this net levels. lower a and will
how everybody think to I folks different it recapture. has as relates report, metrics reporting
buckets, NewRez-originated you look a think and XX%; we is product, differently refinancing to to it you from the page, tried different Overall, of on product, show a the and XX% the you on a out recapture bit we retail-originated perspective. quarter for the this do NewRez -- break the on XX%. If left organization about side little how what
our customer keeping more perspective think customers DTC you retention help grow our drive, when clearly, two, more retention, but earnings; amortization. desire have higher from to is about that down to slowing one, a importantly, our going and channels, So
lead to we're capacity, the our the into on do page. customer a page On the other X% bottom can value in our improvement recapture -- X% get in side, to X.X%. we'll is right left, X.X% a something our bottom we Q&A to working for very We're on back recapture we again, the recapture conversely, decrease the change Operating retention. you of will see going that will on a awareness. goes that? look lower A on our How And at And rate Have believe brand. side part rate can the what provides of then this market upside be. portfolio. that's you our see One on in the to change at focused are brand side.
side to partnership will We've to the and which every the pretty initiatives of and operating we goes view continue origination the to loans like us been got on loans forward the look technology that And have from at business. and to and of business help more that going drive leader a That's our Salesforce really quicker our there. of employees and add I quarter. to which lot to technology other online end a and certain mortgage recapture funding we borrower, single us We the world-class connect again, of to around being be the a will growing do vocal us get there, able to company think divisions, business a loans fund capacity side, able help does, our pipe. finally, work kind be we then give of through servicing about
for We've was and look capital, XXXX down X, there. X, did As real year securitizations term shareholder financed our of Page at see our talk assets, Page our did we balance most at we unencumbered just lot can locking billion gained right about of XX billion. $X.X financing, results, staying of the We a of quite quick senior and sheet great year during debt. returns. you securitizations. you of origination team. Bottom side rebuilding when with frankly, have today, unsecured XX, focused as you job $XXX We We loan spent, on we Page one accomplishments is million lowered the funds. of a cost look is market share. delivering cash. a by which And overall, $X
is finally, and mark-to-market down homeowners The billion forbearances just from $XX.X about agency perspective, a X% I to which XXXX. started I we fastest-growing which portfolio. our in securitizations. mortgage from plans decreased start And largest that helping mortgage peak working Keep to we out to in of as of $X from our mind, borrowers in XXXX to year, the investment XXXX From of portfolio. with quickly to originator stock ended exposure we pointed a in now And and our billion. I'll daily to X.X%, XXXX. from big homeowner earlier this did rebounded business, focus when repo March. ours low going our them raised XX we the around our markets. with of dividend forbearance investment then talk away financing, we out we the bar. the Xx dark was XXXX. percentage navigate X.X% financed with and think COVID-XX. NewRez in the Overall, from flip just pointed days That's is gets at Page
our We've agency we've investment portfolio. the then buying from seen year of we of the we our a to portfolio forward, out tightening days our the to spread Mae MSR of March are Ginnie million portfolio, think areas is one also agency in Fed to generally some $XXX And going mortgages, stay a dramatic thing to the on with side. smaller buyouts. added an we on, we've added As of MSR where offset on the that area Mae continue overall last focused been as point securities we've portfolio, of percentage about One space, early That's today. the also Ginnie focused. that
a We Maes Ginnie about excess which $XX of total, of includes have full billion $XXX MSRs about and billion MSRs. both versus portfolio
securities, million $XXX mostly of risk long what $XXX a We we've seen lower sold residential million sold loans. at securities non-agency time. we than quarter, credit in quite yields the During of
On the out, we again, some bought other pointed side, securities. I agency
began QX, in collateral of be out we next of securitizations again, million with month. $XXX During from call the we will we called bought the quarter, $XX Post MSRs we of QX. -- business billion our called We collateral NewRez. million call and $XXX market during
balances and move us pick going lower. there's to delinquencies business. up As additional as EBO think we look decline forward for some think opportunities, opportunity again, bit a be little call the do advanced about activity we expect and to We in
NewRez, business very business, to our turned haven't that through and our on, through an portfolio the little partner. now, and We origination the we'll to talk we're area servicing in mortgage company, been in we our our on continue business. to large that with We recently focus SFR and on bit. a originations non-QM focused origination We'll particularly there. continue grow That's MSR
back We On that truly the I'm overall fast not XXXX, beat MSRs, in value to the we write-downs a horse amortization. dead going here. We of believe if to had you had go MSRs.
If in will fourth the -- I'll of it's a normalized a and that a again, a bit and a that around That quarter. kind market, at in our X was overall little think multiple. talk X in you X in total, look We be minute. of in multiple mark to in unchanged do to it's kind
have through or financing in continue either It's with focus, companies. Mae for on through business Net billion. equity the XX you just banks take of Ginnie facilities and average no $X.X to there XX the weighted to months. markets real nonmark-to-market Page mark-to-market loans correlates financed daily $XXX as XXX% and space. securitizations million, EBO I on capital the which loans again, to our out, side, insurance the On pointed both We'll has we securities quick.
right the securities. non-agency On side page, of residential the
a to rights. forbearance loans portion to residuals Just from our of retention to that of be as Page XX, it couple mortgage MH to will is things sense, what Then clean the has the we have including relates some billion population of and believe that believe a we'll bonds. risk We there, bonds. population call other up, give anywhere of this because continues larger do small originated to collateral. Nobody up clean related you were we these $XXX amount callable. more to -- $XX XXXX. going XXXX call a and million
While that Page see advances, is Servicer also advanced and we that by is factor only. delinquencies callable, represent We decline. $XX XX. today billion that see of to billion need can balances decline, currently $XX we
unchanged. the tax really from the of On essentially billion. nature and seasonal to quarter, property $X.X $X.X That's to related billion They're escrow. up
that continue stay to to $X.X and around billion normalize We the expect number.
weighted advances the is cost our financing quarter, X.XX%, reduced X.XX%. down we on average which During to from
advance So taking is the our of financed is basis $X nonmark-to-market and all the a of job of which the balances, curve billion XX capital we're it's nonrecourse. debt, markets, advantage honestly, with On financing treasury and yield X-year remarkable of have billion an rates $X million advanced and you end outstanding front $XX at our in LTV XX points. of where or
in Finally, about sit COVID actually X.X%. I we homes. continued service flip to to to really to NRZ And side, This them now just that? related the on continue down something X.X%, important our ecosystem is to out flatten. forbearances to work pointed to earlier, their here. we on portfolio, homeowners -- slide of investment will special a Page as I'll the keep want the that's quick and in and peak have us homeowners, where with you how servicers take Baron, XX. think