Rithm Capital Corp. recently closed an $878 million mortgage servicing rights (MSR) deal.
The single-tranche transaction is the largest MSR debt issuance ever, marking a significant milestone in the evolution of MSR-backed financing structures, the company says in a release.
The market’s second-ever non-recourse MSR securitization, the note provides fixed financing over the term of the expected life of the assets of three years.
Rithm announced the close of the first non-recourse, non-rated MSR transaction, in November 2024.
Since 2015, Rithm has successfully closed 17 MSR deals representing a total balance of over $7.7 billion.
“Rithm boasts over a decade of experience in the MSR sector, and our expertise, reliable servicing performance, and innovative approach are reshaping what’s possible in this exciting space,” says Michael Nierenberg, chairman, CEO and president of Rithm Capital. “The success of this transaction demonstrates strong confidence in our growing platform, as well as our capability to provide new high-quality mortgage servicing solutions. We are committed to further solidifying Rithm’s leadership in the sector and expanding access to this emerging asset class.”
