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OTHER ASSETS AND LIABILITIES (Tables)
 9 Months Ended
Sep. 30, 2023
Other Income Assets And Liabilities [Abstract]  
Schedule of Other Assets and Liabilities
Other Assets and Accrued Expenses and Other Liabilities consist of the following:
Other AssetsAccrued Expenses
and Other Liabilities
September 30, 2023December 31, 2022September 30, 2023December 31, 2022
Margin receivable, net(A)
$569,081 $20,614 Margin payable$31,392 $4,852 
Excess MSRs, at fair value (Note 4)282,976321,803Interest payable215,276 87,700 
Servicer advance investments, at fair value (Note 6)387,669398,820Accounts payable177,969 155,492 
Servicing fee receivables125,381128,438Derivative liabilities (Note 17)9,639 18,064 
Principal and interest receivable164,558106,608Accrued compensation and benefits110,834 112,762 
Equity investments(B)
67,81971,388Operating lease liabilities (Note 16)101,478 101,225 
Other receivables159,142146,131Deferred tax liability798,179 711,855 
REO17,82419,379Other liabilities337,548 294,717 
Goodwill (Note 15)(C)
85,19985,199$1,782,315 $1,486,667 
Notes receivable, at fair value(E)
33,250— 
Warrants, at fair value18,85419,346
Property and equipment26,84037,883
Intangible assets (Note 15)123,245141,413
Prepaid expenses35,39860,817
Operating lease right-of-use assets (Note 16)77,52277,329
Derivative assets (Note 17)63,53252,229
Loans receivable, at fair value(D)
30,10994,401
Other assets151,469132,809
$2,419,868 $1,914,607 
(A)Represents collateral posted as a result of changes in fair value of Rithm Capital’s (i) real estate securities securing its secured financing agreements and (ii) derivative instruments.
(B)Represents equity investments in (i) commercial redevelopment projects and (ii) operating companies providing services throughout the real estate industry, including investments in Covius Holding Inc. (“Covius”), a provider of various technology-enabled services to the mortgage and real estate sectors, preferred stock in Valon Mortgage, Inc. (“Valon”), a residential mortgage servicing and technology company, and preferred stock in Credijusto Ltd. (“Covalto”), a financial services company.
(C)Includes goodwill derived from the acquisition of Shellpoint Partners LLC (“Shellpoint”), Guardian Asset Management LLC (“Guardian”) and Genesis.
(D)Represents loans made pursuant to a senior credit agreement and a senior subordinated credit agreement to an entity affiliated with funds managed by an affiliate of the Former Manager. The loans are accounted for under the fair value option.
(E)Represents notes receivable acquired pursuant to a loan sale agreement, secured by certain commercial properties. The note is accounted for under the fair value option.
Schedule of Real Estate Owned
The following table presents activity related to the carrying value of investments in REO:
Balance at December 31, 2022$19,379 
Property received in satisfaction of loan21,135 
Sales(A)
(23,822)
Valuation (provision) reversal 1,132 
Balance at September 30, 2023$17,824 
(A)Recognized when control of the property has transferred to the buyer.
Summary of Accounts, Notes and Loans Receivable
The following table summarizes residential mortgage loans outstanding by loan type:
September 30, 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$462,187 $370,957 8,610 8.9 %4.5$452,519 
Acquired performing loans(B)
69,353 57,229 1,947 8.9 %4.772,425 
Acquired non-performing loans(C)
27,042 21,454 324 9.3 %3.228,602 
Total residential mortgage loans, held-for-sale, at lower of cost or market$96,395 $78,683 2,271 9.0 %4.3$101,027 
Acquired performing loans(B)(D)
$997,217 $963,554 3,374 6.8 %13.1$890,131 
Acquired non-performing loans(C)(D)
211,662 191,078 1,101 4.6 %23.8340,342 
Originated loans1,579,012 1,585,967 5,593 6.9 %29.22,066,798 
Total residential mortgage loans, held-for-sale, at fair value$2,787,891 $2,740,599 10,068 6.7 %23.0$3,297,271 
Total residential mortgage loans, held-for-sale, at fair value/lower of cost or market$2,884,286 $2,819,282 $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)Performing loans are generally placed on non-accrual status when principal or interest is 90 days or more past due.
(C)As of September 30, 2023, Rithm Capital has placed non-performing loans, held-for-sale on non-accrual status, except as described in (D) below.
(D)Includes $252.1 million and $186.7 million UPB of Ginnie Mae Early Buyout Options (“EBOs”) 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, 2023:
Carrying
Value(A)
% of PortfolioLoan
Count		% of PortfolioWeighted Average YieldWeighted Average Original Life (Months)
Weighted Average Committed Loan Balance to Value(B)
Construction$947,754 44.3 %42230.0 %9.8 %16.1
75.0% / 63.3%
Bridge925,859 43.4 %68248.6 %9.3 %25.169.9%
Renovation261,811 12.3 %30021.4 %9.9 %14.0
79.4% / 68.2%
$2,135,424 100.0 %1,404100.0 %9.6 %19.7N/A
(A)Mortgage loans receivable are carried at fair value. See Note 19 regarding fair value measurements.
(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 receivable:
Balance at December 31, 2022$2,064,028 
Purchases146,631 
Initial loan advances975,677 
Construction holdbacks and draws491,370 
Paydowns and payoffs(1,542,459)
Purchased loans discount amortization177 
Balance at September 30, 2023$2,135,424 
Notes and Loans Receivable — The following table summarizes the activity for notes and loans receivable:
Notes ReceivableLoans ReceivableTotal
Balance at December 31, 2022
$— $94,401 $94,401 
Fundings35,000 — 35,000 
Payment in Kind— 4,422 4,422 
Proceeds from repayments(1,750)(68,945)(70,695)
Fair value adjustments due to:
Changes in instrument-specific credit risk— — — 
Other factors— 231 231 
Balance at September 30, 2023
$33,250 $30,109 $63,359 
Summary of Performing Loans Past Due
The following table summarizes the difference between the aggregate unpaid principal balance and the aggregate carrying value of loans:
September 30, 2023December 31, 2022
Days Past DueUPBCarrying ValueCarrying Value Over (Under) UPBUPBCarrying ValueCarrying Value Over (Under) UPB
90+$305,579 $266,341 $(39,237)$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 carrying value of mortgage loans receivable:
September 30, 2023December 31, 2022
Days Past DueUPBCarrying ValueCarrying Value Over (Under) UPBUPBCarrying ValueCarrying Value Over (Under) UPB
Current$2,105,989 $2,104,383 $(1,606)$2,064,028 $2,064,028 $— 
90+31,045 31,041 (4)— — — 
The following table summarizes the past due status and difference between the aggregate unpaid principal balance and the aggregate carrying value of notes and loans receivable:
September 30, 2023December 31, 2022
Days Past DueUPB
Carrying
Value(A)
Carrying Value Over (Under) UPBUPB
Carrying
Value(A)
Carrying Value Over (Under) UPB
Current$133,191 $63,359 $(69,832)$157,745 $94,401 $(63,344)
90+— — — — — — 
(A)Notes and loans receivable are carried at fair value. See Note 19 regarding fair value measurements.