Company: RITM-PC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001556593-25-000024
Chunk: 25

Company: Rithm Capital Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 2
Chunk 25
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, of a specified margin over SOFR. As of June 30, 2025 and December 31, 2024, the Company pledged residential mortgage loans with a carrying value of approximately $4.5 billion and $4.7 billion, respectively, as collateral for borrowings under repurchase agreements. A portion of collateral for borrowings under repurchase agreements is subject to daily mark-to-market fluctuations and margin calls. A portion of collateral for borrowings under repurchase agreements is not subject to daily margin calls unless the collateral coverage percentage, a quotient expressed as a percentage equal to the current carrying value of outstanding debt divided by the market value of the underlying collateral, becomes greater than or equal to a collateral trigger. The difference between the collateral coverage percentage and the collateral trigger is referred to as a “margin holiday.” See Note 18 to our consolidated financial statements for further information regarding financing of our residential mortgage loans, including a summary of activity related to financing from December 31, 2024 to June 30, 2025.

See Note 7 to our consolidated financial statements for additional information including a summary of activity related to residential mortgage loans from December 31, 2024 to June 30, 2025.

99

Consumer Loans

The table below summarizes the collateral characteristics of the consumer loans, including the portfolio of consumer loans purchased from Goldman Sachs in June 2023 (the “Marcus loans” or “Marcus”) and consumer loans purchased from SpringCastle (the “SpringCastle loans” or “SpringCastle”) held by Rithm Capital, through the Consumer Loan Companies, as of June 30, 2025 (dollars in thousands):

Collateral CharacteristicsUPBNumber of LoansWeighted Average CouponAdjustable Rate Loan % Average Loan Age (Months)Weighted Average Expected Life (Months)Delinquency 90+ Days(A)12-Month CRR(B)12-Month CDR(C)SpringCastle$181,962 31,33918.0 %14.6 %249442.1 %14.2 %4.9 %Marcus$398,339 100,82811.1 %— %381034.7 %23.1 %12.6 %Total / Weighted Average$580,301 132,16713.3 %4.6 %1042124.5 %20.3 %10.2 %

(A)     Represents the percentage of the