Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 215

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 1
Chunk 215
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 “Marcus loans” or “Marcus”) 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 personal unsecured loans and personal homeowner loans. The Marcus loans are serviced by Systems and Services Technologies, Inc., 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)March 31, 2025SpringCastle$192,644 $201,468 18.0 %3.7Marcus470,473 352,700 11.1 %0.8Total Consumer Loans$663,117 $554,168 13.1 %1.6December 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:March 31, 2025December 31, 2024Days Past DueUPBCarrying Value(A)Carrying Value Over (Under) UPBUPBCarrying Value(A)Carrying Value Over (Under) UPBSpringCastle:Current$188,399 $197,088 $8,689 $203,923 $214,746 $10,823 90+4,245 4,380 135 4,383 4,562 179 Total SpringCastle192,644 201,468 8,824 208,306 219,308 11,002 Marcus:Current$337,889 $338,