On July 13, 2016, the Board of Directors of New Residential Investment Corp. increased the size of the Board to six (6) members and appointed Andrew Sloves as an independent director of the company. Mr. Sloves will serve as a Class III Director with a term expiring at the 2019 annual meeting of the stockholders of the company. The Board also appointed Mr. Sloves as a member of the Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee of the Board. Mr. Sloves will receive the standard annual Board compensation for non-employee directors for 2016 (prorated based on the date of his appointment).