Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 101

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 101
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,559$8,152,970Weighted average delinquency(A)4.7%5.2%Net credit losses$162,406$161,646Face amount of debt held by third parties$7,923,955$7,532,832Carrying value of notes retained by Rithm Capital(B)(C)$555,393$532,845Cash flows received by Rithm Capital on these notes$23,416$94,589(A)Represents the percentage of the UPB that is 60+ days delinquent.(B)Includes real estate bonds retained pursuant to required risk retention regulations.(C)Classified within Level 3 of the fair value hierarchy as the valuation is based on certain unobservable inputs including discount rate, prepayment rates and loss severity. See Note 19 for details on unobservable inputs.The following table summarizes the Company’s involvement, through Sculptor, with VIEs that are not consolidated and is generally limited to providing asset management services and, in certain cases, investments in the VIEs. The maximum exposure to loss represents the potential loss of current investments or income and fees receivables from these entities, as well as the obligation to repay unearned revenues, primarily incentive income subject to clawback, in the event of any future fund losses, as well as unfunded commitments to certain funds that are VIEs. The Company does not provide, nor is it required to provide, any type of non-contractual financial or other support to its VIEs that are not consolidated beyond its share of capital and other commitments described in Note 25.March 31, 2025December 31, 2024Maximum Risk of Loss as a Result of the Company’s Involvement with Unconsolidated VIEs:Unearned income and fees$14,882$17,268Income and fees receivable28,23435,723Investments691,818577,849Unfunded commitments(A)173,520174,530Other commitments25,52125,521Maximum Exposure to Loss$933,975$830,891(A)Includes commitments from certain current and former employees and executive managing directors in the amounts of $110.7 million and $133.9 million as of March 31, 2025 and December 31, 2024, respectively.The following table summarizes the carrying value of the Company’s unconsolidated commercial real estate projects which reflects the Company’s maximum exposure to loss. See Note 25