Company: RITM-PC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001556593-25-000024
Chunk: 102

Company: Rithm Capital Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 1
Chunk 102
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”) and (ii) consumer loans purchased from SpringCastle (the “SpringCastle loans” or “SpringCastle”) initially in a co-investment with an unaffiliated entity. On June 28, 2024, Rithm Capital acquired the remaining 46.5% interest in the SpringCastle loans from the co-investor for a total purchase price of $22.0 million. Following the acquisition, Rithm Capital holds a 100% interest in the SpringCastle loans.The Marcus portfolio includes unsecured fixed-rate closed-end installment loans, and the SpringCastle portfolio includes open-end personal unsecured loans and personal homeowner loans. The Marcus loans are serviced by Systems and Services Technologies, Inc. and our internal loan servicing business at Newrez, and the SpringCastle loans are serviced by OneMain Holdings Inc. The following table summarizes characteristics of the consumer loan portfolio classified as HFI and measured at fair value under the fair value option election:UPBCarrying ValueWeighted Average CouponWeighted Average Expected Life (Years)June 30, 2025SpringCastle$181,962 $190,138 18.0 %3.7Marcus398,339 275,093 11.1 %0.8Total Consumer Loans$580,301 $465,231 13.3 %1.7December 31, 2024SpringCastle$208,306 $219,308 18.1 %3.8Marcus559,317 446,257 11.0 %1.0Total Consumer Loans$767,623 $665,565 12.9 %1.8See Note 18 regarding the financing of consumer loans.The following table summarizes the past due status and difference between the aggregate UPB and the aggregate carrying value of consumer loans:June 30, 2025December 31, 2024Days Past DueUPBCarrying Value(A)Carrying Value Over (Under) UPBUPBCarrying Value(A)Carrying Value Over (Under) UPBSpringCastle:Current$178,173 $186,197 $8,024 $203,923 $214,746 $10,823 90+3,789 3,941 152 4,383 4,562 179 Total SpringCastle181,962 190,138 8,176 208,306 219,308 11,002 Marcus:Current$259,