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CONSUMER LOANS
 3 Months Ended
Mar. 31, 2023
Investments In Consumer Loans Equity Method Investees [Abstract]  
CONSUMER LOANS CONSUMER LOANS
Rithm Capital, through limited liability companies (together, the “Consumer Loan Companies”), has a co-investment in a portfolio of consumer loans. The portfolio includes personal unsecured loans and personal homeowner loans. OneMain Holdings Inc is the servicer of the loans and provides all servicing and advancing functions for the portfolio. As of March 31, 2023, Rithm Capital owns 53.5% of the limited liability company interests in, and consolidates, the Consumer Loan Companies.

The following table summarizes characteristics of the consumer loan portfolio:
Unpaid Principal BalanceCarrying ValueWeighted Average CouponWeighted Average Expected Life (Years)
March 31, 2023
Total consumer loans$310,877 $340,525 18.0 %3.3
December 31, 2022
Total consumer loans$330,428 $363,756 17.8 %3.4

See Note 18 regarding the financing of consumer loans.

The following table summarizes the past due status and difference between the aggregate unpaid principal balance and the aggregate fair value of consumer loans:
March 31, 2023December 31, 2022
Days Past DueUPBFair ValueFair Value Over (Under) UPBUPBFair ValueFair Value Over (Under) UPB
Current$305,360 $334,550 $29,190 $325,192 $358,057 $32,865 
90+5,517 5,975 458 5,236 5,699 463 
$310,877 $340,525 $29,648 $330,428 $363,756 $33,328 
The following table summarizes activities related to the carrying value of consumer loans:
Balance at December 31, 2022$363,756 
Additional fundings(A)
6,831 
Proceeds from repayments(26,617)
Accretion of loan discount and premium amortization, net2,546 
Fair value adjustment due to:
Changes in instrument-specific credit risk103 
Other factors(6,094)
Balance at March 31, 2023$340,525 
(A)Represents draws on consumer loans with revolving privileges.