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MORTGAGE LOANS RECEIVABLE (Tables)
 3 Months Ended
Mar. 31, 2023
Receivables [Abstract]  
Schedule of Residential Mortgage Loans Outstanding by Loan Type, Excluding REO
The following table summarizes residential mortgage loans outstanding by loan type:
March 31, 2023December 31, 2022
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)
$498,602 $426,259 9,278 9.1 %4.4$452,519 
Acquired performing loans(C)
81,396 70,897 2,204 8.5 %5.072,425 
Acquired non-performing loans(D)
31,712 26,614 403 9.1 %3.228,602 
Total residential mortgage loans, held-for-sale, at lower of cost or market$113,108 $97,511 2,607 8.7 %4.5$101,027 
Acquired performing loans(C)(E)
$983,700 $945,582 4,188 5.8 %15.1$890,131 
Acquired non-performing loans(D)(E)
263,732 244,752 1,403 4.6 %26.9340,342 
Originated loans1,556,000 1,553,475 5,353 6.1 %29.22,066,798 
Total residential mortgage loans, held-for-sale, at fair value$2,803,432 $2,743,809 10,944 5.9 %24.0$3,297,271 
Total residential mortgage loans, held-for-sale, at fair value/lower of cost or market$2,916,540 $2,841,320 $3,398,298 
(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 90 days or more past due.
(D)As of March 31, 2023, Rithm Capital has placed non-performing loans, held-for-sale on nonaccrual status, except as described in (E) below.
(E)Includes $433.2 million and $240.3 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 March 31, 2023:
Carrying
Value(A)
% of PortfolioLoan
Count		% of PortfolioWeighted Average YieldWeighted Average Original Life (Months)
Weighted Average Committed Loan Balance to Value(B)
Construction$913,495 46.9 %51539.7 %8.7 %15.1
76.8% / 65.5%
Bridge815,663 41.9 %54642.2 %8.6 %20.573.0%
Renovation217,264 11.2 %23418.1 %8.9 %13.9
77.8% / 65.3%
$1,946,422 100.0 %1,295100.0 %8.7 %17.2N/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, 2022$2,064,028 
Initial loan advances275,907 
Construction holdbacks and draws153,730 
Paydowns and payoffs(547,243)
Balance at March 31, 2023$1,946,422 
Notes and Loans Receivable — The following table summarizes the activity for loans receivable:
Loans Receivable
Balance at December 31, 2022
$94,401 
Fundings— 
Payment in Kind2,134 
Proceeds from repayments(64,661)
Transfer to other assets— 
Fair value adjustments due to:
Changes in instrument-specific credit risk— 
Other factors231 
Balance at March 31, 2023
$32,105 
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:
March 31, 2023December 31, 2022
Days Past DueUPBFair ValueFair Value Over (Under) UPBUPBFair ValueFair Value Over (Under) UPB
90+$376,472 $338,474 $(37,999)$468,147 $423,321 $(44,826)
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:
March 31, 2023December 31, 2022
Days Past DueUPBFair ValueFair Value Over (Under) UPBUPBFair ValueFair Value Over (Under) UPB
Current$1,946,422 $1,946,422 $— $2,064,028 $2,064,028 $— 
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:
March 31, 2023December 31, 2022
Days Past DueUPBFair ValueFair Value Over (Under) UPBUPBFair ValueFair Value Over (Under) UPB
Current$98,410 $32,105 $(66,305)$157,745 $94,401 $(63,344)
90+— — — — — — 
Schedule of Geographic Distribution of Mortgage Loans Receivable
The following table summarizes the geographic distribution of the underlying Mortgage Loans Receivable as of March 31, 2023:
State ConcentrationPercentage of Total
Loan Commitment
California54.9 %
Washington9.7 %
Colorado7.2 %
New York5.6 %
Arizona5.5 %
Florida4.2 %
North Carolina2.5 %
Texas2.0 %
New Jersey1.6 %
Washington D.C.1.3 %
Other U.S.5.5 %
100.0 %