Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 402

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 402
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5.

100 

Consumer Loans

The table below summarizes the collateral characteristics of the Company’s consumer loans, including the portfolio of consumer loans purchased from Upgrade, Inc. (the “Upgrade loans” or “Upgrade”), 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 certain limited liability companies (together, the “Consumer Loan Companies”) as of September 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$172,158 29,90018.0 %14.7 %252441.9 %14.0 %5.3 %Marcus339,048 100,71111.2 %— %41841.6 %24.9 %6.3 %Upgrade218,978 18,11412.9 %— %6133— %24.8 %— %Total / Weighted Average$730,184 148,72513.3 %3.5 %805419.8 %22.3 %4.2 %

(A)     Represents the percentage of the total principal balance of the pool that corresponds to loans that are delinquent by 90 or more days.

(B)    Represents the annualized rate of the voluntary prepayments during the three months as a percentage of the total principal balance of the pool.

(C)     Represents the annualized rate of the involuntary prepayments (defaults) during the three months as a percentage of the total principal balance of the pool.

We have financed our investments in the SpringCastle loans with securitized non-recourse long-term notes with a stated maturity date of September 2037. The Marcus loans are financed with long-term notes with a stated maturity date of June 2028. The Upgrade loans are financed primarily through a secured revolving credit facility that matures in July 2026. See Note 18 to our consolidated financial statements for further information regarding the financing of our consumer loans, including a summary of activity related to financing from December 31