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4 | M R EP O RT MTECH New Residential's New Acquisition CALIBER SOLD TO NEW RESIDENTIAL FOR $1.7 BILLION. N ew Residential Invest- ment Corporation has entered into an agree- ment with an affiliate of Lone Star Funds to acquire Caliber Home Loans Inc., bringing together the platforms of Caliber and NewRez LLC. Under the terms of the agreement, New Residential will pay a cash consideration of $1.675 billion to acquire Caliber. Through the acquisition, New Residential expects to broaden its customer retention efforts; enhance its purchase origina- tion capabilities; add to its asset base with a portfolio of mortgage servicing rights (MSRs); and accel- erate New Residential's mortgage platform objectives. "We believe this is a terrific acquisition for our company," said Michael Nierenberg, Chairman, CEO, and President of New Residential. "Over the years, Caliber's experienced team has built a differentiated purchase-fo- cused originator with an impres- sive retail franchise and solid track record in customer reten- tion. The combination of NewRez and Caliber's platforms will create a premier financial services com- pany with scale, talent, technolo- gies, and products to accelerate our mortgage company objectives and generate strong earnings for our shareholders. With this acquisition, we have significantly strengthened our capabilities to perform across interest rate envi- ronments." Caliber reported $80 billion in unpaid principal balance (UPB) of funded origination volume in 2020. Caliber's servicing portfolio as of December 31, 2020, featured $153 billion in UPB, with approxi- mately 630,000 customers. "We are excited to be join- ing the New Residential family," said Sanjiv Das, CEO of Caliber. "By combining platforms with NewRez, we will join another industry pioneer that has comple- mentary strengths and is com- mitted to delivering the dream of homeownership. Our combina- tion of strategies will allow us to accelerate our leading position in purchase lending, grow our digital direct to consumer and broker initiatives, and further propel our retail franchise. As we leverage our digitization investments, we will make the entire mortgage process faster, easier, and more efficient. We are thrilled to have the opportunity to deepen our customer relationships, expand our customer reach, and provide more industry-leading products and options to our customers." Furthering Education DOCMAGIC AND SECURE INSIGHT PARTNER ON RON EDUCATION. D ocMagic and Secure Insight have announced a centralized training Getting a Head Start These highlighted companies are leading the way in tech, innovation, and business growth.