Company: RITM-PC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001556593-25-000024
Chunk: 372

Company: Rithm Capital Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 8
Chunk 372
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 represent the MSR component exceeding the base fee. Excess MSR assets include Rithm Capital’s ownership of Excess MSRs, and associated recapture agreements, acquired from and serviced by Mr. Cooper Group Inc. (“Mr. Cooper”).

The following tables summarize the terms of our Excess MSRs: 

MSR Component(A)Excess MSRDirect Excess MSRsCurrent UPB (billions)(B)Weighted Average MSR (bps)Weighted Average Excess MSR (bps)Interest in Excess MSR (%)Carrying Value (millions)Total / Weighted Average$50.7 322065.0% – 80.0%$345.7 

(A)The MSR is a weighted average as of June 30, 2025 and the Excess MSR represents the difference between the weighted average MSR and the base fee (which fee remains constant).

(B)Represents Excess MSRs serviced by Mr. Cooper. We also invested in related servicer advance investments, including the base fee component of the related MSR (Note 14) on $12.6 billion UPB underlying these Excess MSRs.

The following tables summarize the collateral characteristics of the loans underlying our direct Excess MSRs and the Excess MSRs held in a joint venture with Sculptor non-consolidated funds as of June 30, 2025 (dollars in thousands):

Collateral CharacteristicsCurrent Carrying AmountCurrent Principal BalanceNumber of LoansWA FICO Score(A)WA CouponWA Maturity (Months)Average Loan Age (Months)Three Month Average CPR(B)Three Month Average CRR(C)Three Month Average CDR(D)Three Month Average Recapture RateTotal / Weighted Average$345,677 $50,719,526 413,4097204.6 %2231656.0 %5.6 %0.5 %16.2 %

Collateral CharacteristicsDelinquencyLoans in ForeclosureREOLoans in Bankruptcy30 Days(G)60 Days(G)90+ Days(E)Weighted Average(F)4.5 %1.1 %0.7 %1.5 %0.2 %0.6 %

(A)Based on the weighted average of information provided by the loan servicer on a monthly basis. The loan servicer generally updates the FICO score when loans are refinanced or become delinquent. 

(B)Represents the annualized rate of the prepayments