Company: RITM-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001556593-25-000007
Chunk: 291

Company: Rithm Capital Corp.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 291
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B)Represents settlement of forward securities delivery commitments utilized as an economic hedge for mortgage loans not included within forward loan sale commitments.(C)Represents the initial fair value of the capitalized MSRs upon loan sales with servicing retained.(D)Includes fees for services associated with the residential mortgage loan origination process.

8. CONSUMER LOANS

Rithm Capital’s consumer loan portfolio consists of (i) consumer loans purchased from Goldman Sachs Bank USA (the “Marcus loans” or “Marcus”) in June 2023 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 loans 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 measured at fair value under the fair value option election:UPBCarrying ValueWeighted Average CouponWeighted Average Expected Life (Years)December 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 %1.8December 31, 2023SpringCastle$260,102 $285,632 18.2 %3.7Marcus1,048,672 988,373 10.5 %1.2Total Consumer Loans$1,308,774 $1,274,005 12.0 %1.7See Note 18 regarding the financing of consumer loans.

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RITHM CAPITAL CORP. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(dollars in tables in thousands, except share data)

The following table summarizes the past due status and difference between the aggregate UPB and the aggregate carrying value of consumer loans:December 31,