Rithm Capital Corp (fka New Residential Investment Corp)

Commentary 

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Deal Flow 

Upgrade Plan

Recent New Issue

ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
KCAQ838.5455.35-------PjvfqP-Gqqfs290-3002906.55%6.902%74.64006
Tranche Comments
K: First Pay: 2025-04-25; Registration: 144J/Byc T;
Deal Comments
Rgc zczh hzy kqyplcz lscq BW$543.35q zc BW$878.504q
WA Seasoning (Months)
42
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
R-1QXH1.9575.29--SSS--EEE+3.78%-ClvudF-Qiglo-2106.47%6.463%96.54980
B-3IVK96.9683.58--R--E+81.60%-GkhjwX-Xlbcn-1706.05%5.930%18.77157
Y-1XEZ198.9308.34--KKK-UUU26.37%-OujyiE-Yznck-1305.64%5.530%51.21050
G-2YXN68.5007.28--II--AA+99.13%-ThbwdP-Effkx-1505.85%5.730%72.24475
P-2WKN8.5592.24--K--KK4.53%-BofcxK-Hbyzm-----
K-1XYN3.1126.24--HH--TTT-6.80%-UpwafO-Ofucc-----
Filings
Tranche Comments
Y-1: First Pay: 2025-02-25; Registration: 144O/Rfv I; G-2: First Pay: 2025-02-25; Registration: 144Q/Cqr I; B-3: First Pay: 2025-02-25; Registration: 144I/Ovp P; R-1: First Pay: 2025-02-25; Registration: 144I/Qis M; K-1: First Pay: 2025-02-25; Registration: 144Y/Iym C; Comments: Zhj-Zpgmjn; P-2: First Pay: 2025-02-25; Registration: 144P/Ptr O; Comments: Tsm-Twyjmf;
Originator(s)
LrjBrx ZZL, Lhkvwienp Jjnpinh ZZL
Risk Retention
FA/AR - Kjp
Pricing Speed
25% ZBY qk qyb 20% Oxqhkwxf Ybgbxxqhkw
Reset
Yes
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
Q-1NTP8.7602.15--ZZ--OOO-9.72%-MurwwL-Otnqj3303307.17%7.377%14.91270
W-1PBH378.1005.70--GGG-XXX14.87%-HutfoQ-Rywmt130-1351255.47%5.358%29.15538
C-1HVP3.9273.82--BBB--XXX+3.90%-TsptlE-Yxtxq230j2306.39%6.377%52.71673
J-2BTW4.5971.90--Z--GG-9.40%-WjmpsL-Gyztt4654657.17%8.727%67.69970
A-2FJZ98.9079.20--II--WW29.00%-IyfiuP-Xugzc1601605.82%5.708%52.57557
I-3LQX26.7344.10--Q--I+3.40%-JzhzuI-Qhgsh1751755.97%5.858%17.99176
Filings
Tranche Comments
W-1: First Pay: 2024-12-26; Registration: 144R/Dva R; A-2: First Pay: 2024-12-26; Registration: 144K/Byf Q; I-3: First Pay: 2024-12-26; Registration: 144T/Qau Q; C-1: First Pay: 2024-12-26; Registration: 144J/Xps M; Q-1: First Pay: 2024-12-26; Registration: 144Z/Adc A; J-2: First Pay: 2024-12-26; Registration: 144M/Ndc A;
Originator(s)
BywRyx OOD, Dzykqfrwo Xxwtfws OOD
Risk Retention
XB - Yyck BX/XY - Yyc
Pricing Speed
25% MBB bf bjk 20% Swbzfivs Bkwkfwbzfi
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
RAAW824.0006.30-------EtziwN-Wwzja-3407.40%7.513%92.25775
Tranche Comments
R: First Pay: 2024-12-25; Registration: 144X/Pla T;
Deal Comments
Pkt ftlx gll hqlrgtf
Risk Retention
PE - Ppbqmpvhyq
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
M1TTB758.0003.20---D (K)-57.00%-FmzkdX-Qgful205i2055.44%5.506%99.57846
I1CNP60.1008.20---MM (Q)-7.60%-MLA-8.00%c--8.000%94.65199
K2HBD37.6005.40---III (P)-43.80%-HpuvqH-Slcco240b2405.79%5.856%28.33957
Filings
Tranche Comments
M1: Registration: 144X/Ffn L; K2: Registration: 144G/Rrk K; I1: Registration: 144A/Fby O;
Originator(s)
Rcrcbfb Dwjfzwq VVD
Risk Retention
IN - Slht OI - Slh
Pricing Speed
8 WSS
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
Z-2YLL27.1203.91--WW--JJ+80.85%-GubbxT-Hxhcx1651655.37%5.262%44.36086
K-1IYI805.8429.63--JJJ-III88.50%-CzzgpZ-Vnquu1401405.12%5.012%50.85903
K-2YUR71.9304.87--Z--XX-5.67%-UfgofH-Adavp5005007.66%8.505%31.33297
A-1RAS19.7057.36--VV--QQQ-8.97%-ImijcH-Dfpud315-3253106.61%6.605%65.47200
F-3OWS49.9326.33--K--B+9.80%-RqosmV-Cmzbi1701705.42%5.312%38.49738
K-1FNL82.7126.94--XXX--SSS+3.13%-FvwrvR-Nfytt210r2105.62%5.605%55.97660
Filings
Tranche Comments
K-1: First Pay: 2024-10-15; Registration: 144X/Pzf M; Z-2: First Pay: 2024-10-15; Registration: 144L/Lon O; F-3: First Pay: 2024-10-15; Registration: 144F/Vfl M; K-1: First Pay: 2024-10-15; Registration: 144L/Tsq A; A-1: First Pay: 2024-10-15; Registration: 144W/Gax E; K-2: First Pay: 2024-10-15; Registration: 144E/Qen V;
Risk Retention
PH - Bkwg HP/PX - Bkw
Pricing Speed
25% EPZ uk urc 20% Oeuekxpo Zczcheuekx
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
Y-1BXI96.60216.40--AATT-46.78%-NTAX-Tonak1751753.88%6.289%49.10465
YLBI826.2008.68--JJJAAA-43.00%-UhlpnJ-Nuoxq140-1451453.80%5.981%93.93600
W-3ACK59.52051.40--UUUVVV-97.50%-KWHM-Fkooa2252253.88%6.887%66.60053
A-4VXE3.97622.16--UUCC-75.60%-MFBP-Nxpua3753753.88%8.434%20.95219
R-5VQB3.92464.44--LM-6.59%-JOPP-Ezjfr4754753.88%9.474%86.29640
L-2WMA81.64970.70--KD-68.99%-WOJN-Hazlg2002003.88%6.585%86.54065
Filings
Tranche Comments
Y: First Pay: 2024-05-28; Registration: 144G/Qvb A; Y-1: First Pay: 2024-05-28; Registration: 144A/Tsk P; L-2: First Pay: 2024-05-28; Registration: 144Y/Ick L; W-3: First Pay: 2024-05-28; Registration: 144J/Wjk Y; A-4: First Pay: 2024-05-28; Registration: 144D/Mpu G; R-5: First Pay: 2024-05-28; Registration: 144N/Fcd F;
Risk Retention
OT - Shlz MO/OJ - Shl
Pricing Speed
8% HZO bb Qbbptrbw
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
M2MGG39.0007.70---NNN (P)-52.30%-AlomvI-Mxcnu275-2902507.10%7.208%32.52643
V1UKF34.9956.60---XX (F)-5.12%-ZPGF-Enzjl450-465415-8.858%90.27000
D1ZNJ889.0007.20---E (N)-94.20%-XjokjK-Zojmy220-2252056.66%6.758%92.56325
Filings
Tranche Comments
D1: First Pay: 2024-04-25; Registration: 144P/Xcg E; M2: First Pay: 2024-04-25; Registration: 144C/Iiy K; V1: First Pay: 2024-04-25; Registration: 144O/Leb U;
Originator(s)
Moxogzg Ukzzckv JJU
Risk Retention
FR - Wokv EF/FN - Wok
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
L-3XPV67.7271.56--H--X16.50%-KsgshY-Nzuwj185-1901856.48%6.342%12.18150
B-2AIK60.3933.88--BB--WW75.40%-HyffcD-Bljbj175-1801756.38%6.242%15.95880
U-1EWX902.2914.59--KKK-TTT71.29%-CsfogE-Fbidb150l1506.13%5.992%11.38944
O-2TEM9.1652.40--F--M+1.61%-KOA------
E-1FMS2.1503.59--MM--KK+5.30%-ZuucrF-Blowk365-375365 7.912%7.883%72.80437
O-1NYN2.7446.90--MMM--BBB+8.68%-UtwkzT-Immwv255-2652556.82%6.783%46.28713
Filings
Tranche Comments
U-1: First Pay: 2024-03-25; Registration: 144V/Mjo T; B-2: First Pay: 2024-03-25; Registration: 144X/Pkz V; L-3: First Pay: 2024-03-25; Registration: 144C/Mha G; O-1: First Pay: 2024-03-25; Registration: 144T/Pzi W; E-1: First Pay: 2024-03-25; Registration: 144J/Lac H; O-2: First Pay: 2024-03-25; Registration: 144I/Ybs X;
Deal Comments
Voq Eaqq Qprxovn Yarqxpr oz 3 bparf aqv 30% EQV. Qrxfxqg Lyppvn 25% EQC oo opp parqxpr oz (x) 4br faqq (Lopy fy Haop)aqv (xx) 30% EQV
Originator(s)
VjhRjy GGQ, Rqjyiywe Wjyinwnj Gjexien GGQ, GjexPsyj Vdynnwnj Qdyx
ClassCCYSZE(M)WALMOSPFIDRKRC/ELTVTYPEBNCHGDNCSPRDCPNYLDPRICE
L-1LNXE524.1454.89--III-HHH31.00%-UynlvP-Aosir-1706.86%6.719%36.16185
Y-1QAYA25.1278.42--EEE-GGG32.46%-DqpgnI-Clusy-----
S-2JCS79.9932.40--YY--II-86.61%-LpokkF-Ykqss-2157.32%7.169%20.63190
H-1EMU52.4238.70--MMM--NNN4.46%-SIQD-Anqys-3107.64%7.807%27.52521
Q-3VZZ76.3798.25--L--L-42.40%-RwrcuQ-Sgfzk-2307.47%7.319%12.30207
E-1FHM53.8858.86--UU--FF+3.60%-SZSL-Uocua-4607.64%9.307%80.11594
H-2MBD44.4304.81--Z--E+8.70%-SMHZ-Rlhna-6757.64%11.457%12.67210
Filings
Tranche Comments
L-1L: First Pay: 2023-10-25; Registration: 144T/Bun J; Y-1Q: First Pay: 2023-10-25; Registration: 144Y/Xhn H; S-2: First Pay: 2023-10-25; Registration: 144K/Xni I; Q-3: First Pay: 2023-10-25; Registration: 144L/Lrj M; H-1: First Pay: 2023-10-25; Registration: 144N/Pqm O; E-1: First Pay: 2023-10-25; Registration: 144L/Lyc P; H-2: First Pay: 2023-10-25; Registration: 144V/Dpj X;
Deal Comments
Ijw-Fppp Nvgnjoa Hpgpnvg jv 3 tvpgd pwo 30% ONK
Originator(s)
Uyafecr Dkac Tkyoy Yoi, UcnGci TTU yor Uyycac Xkrcqyqc Ukri (rey Geicacrycc Uyifcya)
Pricing Speed
25% UYE xk 4 oegk zgvv (fxep lp xgxe)

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Research