I'm not thinking red flag for NRZ-D, although I do not trust Fortress
Looking over the peer group in the mortgage originator/servicer
category TWO, PMT, etc.), 7% is fine. Wish it had been higher.
I like the 5-year reset rate on NRZ-D. 6.223% plus 5-year Treasury rate.
Currently the 5-year Treasury rate is 0.799%. In 5 years who knows.
Will I even care?