Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 336

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 2
Chunk 336
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 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 March 31, 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 March 31, 2025.

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 

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SpringCastle (the “SpringCastle loans” or “SpringCastle”) held by Rithm Capital, through the Consumer Loan Companies, as of March 31, 2025 (dollars in thousands):

Collateral CharacteristicsUPBNumber of LoansWeighted Average CouponAdjustable Rate Loan % Average Loan Age (Months)Average Expected Life (Months)Delinquency 90+ Days(A)12-Month CRR(B)12-Month CDR(C)SpringCastle$192,644 32,84918.0 %14.5 %245442.2 %14.3 %4.9 %Marcus$470,473 100,85211.1 %— %351028.2 %23.0 %11.3 %Total / Weighted Average$663,117 133,70113.1 %4.2 %962020.6 %20.5 %9.4 %

(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