Nexus Nova LLC Ranked Top 50 GSE MBS Servicer for Q3 2022

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Dec 15, 2022, 08:53 ET

MINNEAPOLIS, Dec. 15, 2022 /PRNewswire/ -- Rice Park Capital Management LP ("Rice Park"), a Minneapolis-based investment firm, is pleased to announce that its subsidiary, Nexus Nova LLC ("Nexus Nova"),has been ranked a top 50 GSE MBS servicer for the third quarter of 2022.

"We believe we are rapidly becoming a market leader as an investor in mortgage servicing rights and achieving this notable accomplishment in a relatively short-time period is evidence of that," said Nicholas Smith, Managing Partner of Rice Park Capital Management. "We believe our mortgage investment knowledge and experience have contributed to our success, and we expect our market position in MSRs to continue to increase as more and more mortgage lenders look to create liquidity."

Nexus Nova, a Freddie Mac approved servicer, began investing in mortgage servicing rights on December 31, 2021.

The company was ranked 50 by Inside Mortgage Finance Publications for Quarter 3, 2022 and held $15.1 billion in GSE MSR. Today, it holds approximately $25 billion of GSE MSR.

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