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MORTGAGE LOANS RECEIVABLE (Tables)
 6 Months Ended
Jun. 30, 2022
Receivables [Abstract]  
Schedule of Residential Mortgage Loans Outstanding by Loan Type, Excluding REO
The following table summarizes residential mortgage loans outstanding by loan type:
June 30, 2022December 31, 2021
Loan TypeOutstanding Face AmountCarrying
Value		Loan
Count		Weighted Average Yield
Weighted Average Life (Years)(A)
Carrying Value
Total residential mortgage loans, held-for-investment, at fair value(B)
$576,750 $510,744 10,273 7.1 %4.4$569,933 
Acquired performing loans(C)
102,734 92,430 2,689 6.7 %4.9130,634 
Acquired non-performing loans(D)
29,203 24,623 217 6.3 %5.22,287 
Total residential mortgage loans, held-for-sale, at lower of cost or market$131,937 $117,053 2,906 6.6 %5.0$132,921 
Acquired performing loans(C)(E)
$1,759,976 $1,661,890 10,370 4.7 %13.3$2,070,262 
Acquired non-performing loans(D)(E)
308,514 282,734 1,546 4.4 %12.5315,063 
Originated loans3,319,543 3,349,312 4,751 5.1 %28.98,829,599 
Total residential mortgage loans, held-for-sale, at fair value$5,388,033 $5,293,936 16,667 4.9 %22.9$11,214,924 
Total residential mortgage loans, held-for-sale, at fair value/lower of cost or market$5,519,970 $5,410,989 $11,347,845 
(A)For loans classified as Level 3 in the fair value hierarchy, the weighted average life is based on the expected timing of the receipt of cash flows. For Level 2 loans, the weighted average life is based on the contractual term of the loan.
(B)Residential mortgage loans, held-for-investment, at fair value is grouped and presented as part of Residential Loans and Variable Interest Entity Consumer Loans Held-for-Investment, at Fair Value on the Consolidated Balance Sheets.
(C)Performing loans are generally placed on nonaccrual status when principal or interest is 120 days or more past due.
(D)As of June 30, 2022, Rithm Capital has placed non-performing loans, held-for-sale on nonaccrual status, except as described in (E) below.
(E)Includes $672.1 million and $208.2 million UPB of Ginnie Mae EBO performing and non-performing loans, respectively, on accrual status as contractual cash flows are guaranteed by the FHA.
The following table summarizes Mortgage Loans Receivable outstanding by loan purpose as of June 30, 2022:
Carrying
Value(A)
% of PortfolioLoan
Count		% of PortfolioWeighted Average YieldWeighted Average Original Life (Months)
Weighted Average Committed Loan Balance to Value(B)
Construction$755,077 43.0 %56839.0 %8.1 %14.3
 76.2% / 65.5%
Bridge722,282 41.1 %45531.3 %7.6 %16.677.1%
Renovation278,720 15.9 %43329.7 %7.8 %12.9
77.9% / 66.7%
$1,756,079 100.0 %1,456100.0 %7.8 %15.0N/A
(A)Represents fair value.
(B)Weighted by commitment loan-to-value (“LTV”) for bridge loans, loan-to-cost (“LTC”) or loan-to-after-repair-value (“LTARV”) for construction and renovation loans.

The following table summarizes the activity for Mortgage Loans Receivables:
Balance at December 31, 2021$1,515,762 
Initial loan advances828,032 
Construction holdbacks and draws240,031 
Paydowns and payoffs(783,878)
Purchased loans premium amortization(43,868)
Fair value adjustments due to:
Changes in instrument-specific credit risk— 
Other factors— 
Balance at June 30, 2022$1,756,079 
Notes and Loans Receivable — The following table summarizes the activity for notes and loans receivable:
Notes ReceivableLoans ReceivableTotal
Balance at December 31, 2021
$60,549 $229,631 $290,180 
Fundings— — — 
Payment in Kind2,412 4,380 6,792 
Proceeds from repayments— (68,751)(68,751)
Transfer to other assets(1,000)— (1,000)
Fair value adjustments due to:
Changes in instrument-specific credit risk(9,042)— (9,042)
Other factors(227)(359)(586)
Balance at June 30, 2022
$52,692 $164,901 $217,593 
Schedule of Performing Loans Past Due
The following table summarizes the difference between the aggregate unpaid principal balance and the aggregate fair value of loans:
June 30, 2022December 31, 2021
Days Past DueUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal BalanceUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal Balance
90+672,891 609,875 (63,016)779,178 740,043 (39,135)
The following table summarizes the past due status and difference between the aggregate unpaid principal balance and the aggregate fair value of Mortgage Loans Receivable:
June 30, 2022December 31, 2021
Days Past DueUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal BalanceUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal Balance
Current$1,756,079 $1,756,079 $— $1,473,894 $1,515,762 $41,868 
90+— — — — — — 
The following table summarizes the past due status and difference between the aggregate unpaid principal balance and the aggregate fair value of notes and loans receivable:
June 30, 2022December 31, 2021
Days Past DueUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal BalanceUnpaid Principal BalanceFair ValueFair Value Over (Under) Unpaid Principal Balance
Current$226,106 $217,593 $(8,513)$289,065 $290,180 $1,115 
90+— — — — — — 
Schedule of Geographic Distribution of Mortgage Loans Receivable
The following table summarizes the geographic distribution of the underlying Mortgage Loans Receivable as of June 30, 2022:
State ConcentrationPercentage of Total
Loan Commitment
California57.2 %
Washington9.5 %
New York5.2 %
Other U.S.28.1 %
100.0 %