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

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 2
Chunk 25
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 subject to daily mark-to-market fluctuations 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 September 30, 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 September 30, 2025.

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