MINNEAPOLIS, Sept. 7, 2023 - Rice Park Capital Management LP ("Rice Park"), a Minneapolis-based investment firm, is pleased to announce that its subsidiary, Nexus Nova LLC ("Nexus Nova"), received Fannie Mae master servicing approval effective September 5, 2023.
"Fannie Mae master servicing approval is yet another major milestone in the evolution and maturation of our Mortgage Servicing Rights ("MSR") business," said Shawn Kelly, Partner of Rice Park Capital Management. "We believe this approval will allow us to provide a comprehensive solution to customers looking to sell conventional MSR and build deeper relationships which will lead to additional value for the sellers/partners and investors we serve."
The company began investing in MSR on December 31, 2021. Since that time, it has acquired approximately $34.4 billion in conventional MSR and MSR excess.
About Rice Park Capital Management
Rice Park Capital Management LP is a private investment firm managing funds and investment vehicles on behalf of institutional investors, family offices and high net worth individuals. Its investment focus is to deliver cycle-resistant returns to its limited partners by unlocking value in complex opportunities in the residential and commercial mortgage and real estate sectors. Learn more about Rice Park at www.riceparkcapital.com.
The information contained herein has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any securities or to participate in any investment strategy and may not be used or relied upon in connection with any offer or sale of securities. Past performance is not indicative of future results.
Rice Park is registered as an investment advisor with the SEC and only transacts business in states where it is properly registered or is excluded or exempted from registration requirements.
This press release contains forward-looking statements. These forward-looking statements include, in particular, statements about the plans, strategies and prospects of Rice Park and/or Nexus Nova. These statements are based on our current expectations and projections about future events. The words "may," "will," "should," "expect," "scheduled," "plan," "seek," "intend," "anticipate," "believe," "estimate," "aim," "potential" or "continue" or the negative of those terms or other similar expressions are intended to identify forward-looking statements and information. Readers are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are based on assumptions and estimates by management of the Rice Park that, although believed to be reasonable, are inherently uncertain and subject to risks and uncertainties that could cause actual results to differ from historical results or those anticipated or predicted by such forward-looking statements. In light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this press release may not, in fact, occur. Rice Park and Nexus Nova undertake no obligation to update or revise any forward-looking statement after the date of this press release as a result of new information, future events or otherwise, except as required by law. Rice Park and Nexus Nova qualify all forward-looking statements by these cautionary statements.
SOURCE Rice Park Capital Management
