Savvy Trades and Investments

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NRZ Don't currently own myself but have some in my kid's accounts. I understand a decent chunk of their acquired assets are rights to service residential mortgage portfolios for the life of the portfolio. Those become more valuable as mortgage rates rise because the portfolio is shrunk less by refinancings so cash flows longer. They could very well write down other longer term fixed rate debt in their portfolio which could weigh on earnings but the mortgage servicing assets should help mitigate the hit.