Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 142

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 142
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 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 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 May 2036. The Marcus loans are financed with long-term notes with a stated maturity date of June 2028. See Note 18 to our consolidated financial statements for further information regarding financing of our consumer loans, including a summary of activity related to financing from December 31, 2024 to March 31, 2025.

See Note 8 to