Company: RITM-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001556593-25-000007
Chunk: 301

Company: Rithm Capital Corp.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 8
Chunk 301
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,773 — 5,773 Balance at December 31, 2024$393,786 $31,580 $425,366 (A)Rithm Capital acquired one and two notes receivable during 2024 and 2023, respectively, collateralized by commercial real estate. The following table summarizes the past due status and difference between the aggregate UPB and the aggregate carrying value of notes and loans receivable:December 31,20242023Days Past DueUPBCarrying Value(A)Carrying Value Over (Under) UPBUPBCarrying Value(A)Carrying Value Over (Under) UPBCurrent$518,856 $425,366 $(93,490)$565,786 $429,550 $(136,236)90+— — — — — — Total$518,856 $425,366 $(93,490)$565,786 $429,550 $(136,236)(A)Notes and loans receivable are carried at fair value. See Note 19 regarding fair value measurements.

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

13. EXCESS MORTGAGE SERVICING RIGHTS

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”). Prior to June 20, 2024, Rithm Capital owned certain pools of Excess MSR directly and certain pools through a joint venture with the Former Manager (the “Fortress Excess MSR JV”). On June 20, 2024, Rithm Capital, together with certain Sculptor nonconsolidated funds, acquired an excess MSR portfolio from the Former Manager (including the Former Manager’s ownership in the Fortress Excess MSR JV) for approximately $124.0 million. A new joint venture with such Sculptor nonconsolidated funds was formed for the acquisition. Rithm Capital owns an 80.0% interest in and manages the joint venture, and as a result, consolidates this joint venture. Following the acquisition from the Former Manager, all of Rithm Capital’s ownership in pools of Excess MSRs is consolidated on its consolidated balance sheet and is presented in other assets at fair value. See Note