Rithm Capital's Commitment to Disaster Relief
In response to the catastrophic effects of recent hurricanes, Rithm Capital Corp. (NYSE: RITM) has demonstrated its dedication to community support by pledging $500,000 towards disaster relief efforts. This endeavor comes through its subsidiary, Newrez LLC, a prominent name in mortgage lending and servicing. The funding aims to aid organizations like Habitat for Humanity and the Newrez Employee Emergency and Disaster Fund.
The Need for Community Resilience
Michael Nierenberg, the Chairman and CEO of Rithm Capital, expressed deep concern for those affected by the hurricanes, emphasizing a commitment to recovery and resilience in the impacted areas. "Our thoughts are with all those whose lives have been affected by Hurricanes Helene and Milton. We are committed to working in partnership with Newrez to restore hope across the regions we serve," he stated. This sentiment underlines the company's dedication to not just financial support but also emotional encouragement for those impacted.
Newrez's Vision for Homeownership
Aligning with Rithm Capital's vision, Newrez's President, Baron Silverstein, highlighted their understanding of homeownership as more than a transaction. It represents the essence of community health and vibrancy. Newrez is unwavering in its resolve to mobilize resources for disaster relief, drawing on its extensive relationships in the affected areas. "We stand in support of all those impacted and will continue to drive community rebuilding and restoration efforts ahead," he shared.
A Special Event for Recovery
Moreover, Newrez will be a proud sponsor of SOULSHINE, an upcoming benefit concert aimed at supporting recovery from Hurricanes Helene and Milton. Set to take place at Madison Square Garden, this concert promises an unforgettable lineup featuring renowned artists like Dave Matthews Band and Warren Haynes Band. The event serves as a means to rally community spirit and raise funds for those still recovering from these disasters.
Building with Habitat for Humanity
As part of their philanthropic efforts, both Rithm Capital and Newrez are dedicated to collaborating with Habitat for Humanity. Their contributions will make a tangible difference in rebuilding homes and lives, showcasing their commitment to social responsibility. These partnerships enable them to be more than just financial backers; they become partners in the physical rebuilding of communities.
About Rithm Capital
Rithm Capital serves as a strategic global asset manager, actively focusing on various markets including real estate and financial services. Since its inception, Rithm has not only made significant direct investments but has also successfully run several wholly-owned subsidiaries, including Newrez and Genesis Capital. With a proven record of generating attractive risk-adjusted returns across varying market conditions, Rithm Capital’s robust approach encompasses delivering over $5.6 billion in dividends to its shareholders.
About Newrez
Newrez is recognized as a customer-first mortgage lender and servicer, devoted to enhancing the homeownership experience. Their diverse portfolio is designed to facilitate home buying through various verticals such as retail and wholesale. Since its founding in 2008, Newrez has remained dedicated to empowering homeowners, ensuring they achieve their housing goals through innovative offerings and personalized support.
Frequently Asked Questions
What prompted Rithm Capital's donation?
Rithm Capital pledged $500,000 to support disaster relief efforts following the destruction caused by Hurricanes Helene and Milton.
Who will benefit from the donation?
The funds will support Habitat for Humanity and the Newrez Employee Emergency and Disaster Fund, aiding individuals and families affected by the hurricanes.
What role does Newrez play in disaster recovery?
Newrez not only provides financial support but also mobilizes resources for community rebuilding efforts through direct engagement and sponsorship of events.
When and where is the benefit concert taking place?
The SOULSHINE benefit concert will be held at Madison Square Garden and aims to raise funds for recovery efforts related to the hurricanes.
How does Rithm Capital support its shareholders?
Rithm Capital has delivered approximately $5.6 billion in dividends to its shareholders since its establishment, showcasing its commitment to providing attractive returns.
