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MORTGAGE LOANS RECEIVABLE (Tables)
 9 Months Ended
Sep. 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:
September 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)
$557,143 $470,935 9,936 8.1 %3.9$569,933 
Acquired performing loans(C)
101,691 86,418 2,414 8.0 %4.3130,634 
Acquired non-performing loans(D)
20,560 17,601 379 6.8 %4.32,287 
Total residential mortgage loans, held-for-sale, at lower of cost or market$122,251 $104,019 2,793 7.8 %4.3$132,921 
Acquired performing loans(C)(E)
$1,094,652 $1,009,159 5,508 5.2 %17.5$2,070,262 
Acquired non-performing loans(D)(E)
275,162 246,861 1,432 4.9 %14.8315,063 
Originated loans2,756,474 2,677,372 4,574 5.5 %29.08,829,599 
Total residential mortgage loans, held-for-sale, at fair value$4,126,288 $3,933,392 11,514 5.4 %25.0$11,214,924 
Total residential mortgage loans, held-for-sale, at fair value/lower of cost or market$4,248,539 $4,037,411 $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 September 30, 2022, Rithm Capital has placed non-performing loans, held-for-sale on nonaccrual status, except as described in (E) below.
(E)Includes $645.2 million and $140.2 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 September 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$865,222 45.0 %60638.1 %8.1 %14.8
77.2% / 66.1%
Bridge763,631 39.8 %54834.5 %7.7 %18.076.4%
Renovation291,060 15.2 %43527.4 %8.0 %12.9
78.1% / 66.4%
$1,919,913 100.0 %1,589100.0 %7.9 %15.8N/A
(A)Represents fair value.
(B)Weighted by commitment loan-to-value (“LTV”) for bridge loans, loan-to-cost (“LTC”) and 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 advances1,178,376 
Construction holdbacks and draws393,705 
Paydowns and payoffs(1,124,064)
Purchased loans premium amortization(43,868)
Balance at September 30, 2022$1,919,913 
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 
Fundings9,000 — 9,000 
Payment in Kind3,741 6,740 10,481 
Proceeds from repayments(6,651)(70,604)(77,255)
Transfer to other assets(1,000)— (1,000)
Fair value adjustments due to:
Changes in instrument-specific credit risk(30,243)— (30,243)
Other factors(228)(1,432)(1,660)
Balance at September 30, 2022
$35,168 $164,335 $199,503 
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:
September 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+475,041 420,412 (54,629)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:
September 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$1,919,913 $1,919,913 $— $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:
September 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$230,292 $199,503 $(30,789)$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 September 30, 2022:
State ConcentrationPercentage of Total
Loan Commitment
California56.4 %
Washington9.9 %
New York6.0 %
Other U.S.27.7 %
100.0 %