Operating as a real estate investment trust (REIT) within the United States, New Residential Investment Corp. conducts its business through several key divisions: origination, servicing, MSR-related investments, residential securities, properties and loans, consumer loans, mortgage loans, and corporate functions. The company's investment strategy focuses on acquiring mortgage servicing rights (MSRs), stakes in mortgage origination and servicing enterprises, residential mortgage-backed securities (RMBS), real estate assets alongside their financing, consumer credit products, and various other opportunistic ventures. For federal income tax purposes, it maintains its qualification as a REIT, which generally exempts it from federal corporate income taxation, provided it disburses at least 90% of its taxable earnings to its shareholders.