Rithm Capital Corp. recently closed a $504 million securitization backed by a pool of non-qualified residential mortgage (non-QM) loans serviced by Rithm’s subsidiary, Newrez.
The transaction is collateralized by a pool of 1,039 residential mortgages with a weighted average credit score of 750 and a loan-to-value of 70.06.
The deal was rated by S&P and KBRA with tranches rated AAA through B. Barclays structured the deal and acted as joint bookrunner alongside BMO Capital Markets, Deutsche Bank Securities, Goldman Sachs, Morgan Stanley, Nomura, and Wells Fargo.
“The successful close of our latest securitization demonstrates our differentiated approach to asset-based credit, the scale of our residential mortgage origination and servicing platform, and strength of our portfolio – all of which are rooted in our synergies with Newrez,” says Sanjeev Khanna, managing director at Rithm Capital, in a release. “We look forward to continuing to grow our platform and deliver high-quality, risk-adjusted opportunities for our investors.”
Rithm is a leading non-QM issuer, with approximately $7.7 billion unpaid principal balance issued across 23 deals.
This latest deal marks Rithm’s third non-QM transaction in 2025.