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OTHER ASSETS AND LIABILITIES (Tables)
 3 Months Ended
Mar. 31, 2024
Other Income Assets And Liabilities [Abstract]  
Schedule of Other Assets and Accrued Expenses and Other Liabilities
Other Assets and Accrued Expenses and Other Liabilities consist of the following:
Other AssetsAccrued Expenses
and Other Liabilities
March 31, 2024December 31, 2023March 31, 2024December 31, 2023
Assets of consolidated funds$350,043 $340,929 Accounts payable$117,827 $165,144 
Deferred tax asset284,950279,019Accrued compensation and benefits112,002 290,464 
Derivative and hedging assets (Note 17)102,22728,080Deferred tax liability898,040 801,857 
Due from related parties22,14732,319Derivative liabilities (Note 17)33,586 115,531 
Equity investments(A)
201,624173,882Escheat payable161,717 169,914 
Excess MSRs, at fair value (Note 4)255,111271,150Interest payable144,216 149,552 
Goodwill (Note 15)(B)
131,857131,857Lease liability (Note 17)151,493 159,236 
Income and fees receivable49,82959,134Liabilities of consolidated funds223,188 219,920 
Intangible assets (Note 15)368,967387,920Unearned income and fees38,993 37,468 
Loans receivable, at fair value(C)
27,99731,323Other liabilities221,536 223,293 
Margin receivable, net(D)
52,31675,947 $2,102,598 $2,332,379 
Notes receivable, at fair value(E)
364,977398,227
Operating lease right-of-use assets (Note 16)96,706104,207 
Other receivables144,072152,046
Prepaid expenses65,46362,513 
Principal and interest receivable181,762161,695
Property and equipment39,01040,038 
Real Estate Owned29,44715,507
Servicer advance investments, at fair value (Note 6)374,511376,881 
Servicing fee receivables145,052156,777
Warrants, at fair value18,07316,599 
Other assets203,356182,881
$3,509,497 $3,478,931 
(A)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., a provider of various technology-enabled services to the mortgage and real estate sectors, preferred stock of Valon, a residential mortgage servicing and technology company, and preferred stock of Covalto Ltd. (formerly known as Credijusto Ltd.), a financial services company and (iii) funds managed by Sculptor.
(B)Includes goodwill derived from the acquisition of Newrez, Guardian, Genesis and Sculptor.
(C)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.
(D)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.
(E)Represents notes receivable secured by commercial properties. The notes are accounted for under the fair value option.
Schedule of Activity Related to the Carrying Value of Investments in REO
The following table presents activity for the period related to the carrying value of investments in REO:
Balance at December 31, 2023$15,507 
Purchases5,763 
Property received in satisfaction of loan14,154 
Sales(A)
(6,254)
Valuation (provision) reversal 277 
Balance at March 31, 2024$29,447 
(A)Recognized when control of the property has transferred to the buyer.
Schedule of Notes and Loans Receivable
The following table summarizes residential mortgage loans outstanding by loan type:
March 31, 2024December 31, 2023
Outstanding Face AmountCarrying
Value		Loan
Count		Weighted Average Yield
Weighted Average Life (Years)(A)
Carrying Value
Total residential mortgage loans, HFI, at fair value$434,474 $365,398 8,070 8.1 %5.2$379,044 
Acquired performing loans(B)
64,851 54,056 1,841 8.0 %5.357,038 
Acquired non-performing loans(C)
24,609 20,359 302 8.5 %6.021,839 
Total residential mortgage loans, HFS, at lower of cost or market
$89,460 $74,415 2,143 8.1 %5.5$78,877 
Acquired performing loans(B)(D)
$542,335 $490,552 2,979 5.7 %15.8$400,603 
Acquired non-performing loans(C)(D)
294,077 271,316 1,501 4.8 %23.1204,950 
Originated loans2,864,943 2,929,832 9,029 6.8 %29.51,856,312 
Total residential mortgage loans, HFS, at fair value
$3,701,355 $3,691,700 13,509 6.5 %27.0$2,461,865 
Total residential mortgage loans, HFS, at fair value and lower of cost or fair value
$3,790,815 $3,766,115 $2,540,742 
(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 March 31, 2024, Rithm Capital has placed non-performing loans, HFS on non-accrual status, except as described in (D) below.
(D)Includes $228.6 million and $222.7 million UPB of Ginnie Mae early buyout options 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 type as of March 31, 2024:
Carrying
Value(A)
% of PortfolioLoan
Count		% of PortfolioWeighted Average YieldWeighted Average Original Life (Months)
Weighted Average Committed Loan Balance to Value(B)
Construction$1,047,688 43.9 %36526.1 %10.9 %16.8
73.4% / 62.3%
Bridge1,037,056 43.5 %63845.7 %9.9 %27.268.1%
Renovation300,000 12.6 %39428.2 %10.3 %12.6
81.2% / 68.4%
$2,384,744 100.0 %1,397100.0 %10.4 %20.5N/A
(A)Mortgage loans receivable are carried at fair value under the fair value option election. See Note 19 regarding fair value measurements.
(B)Weighted by commitment LTV for bridge loans, loan-to-cost and loan-to-after-repair-value for construction and renovation loans.
The following table summarizes the activity for the period for mortgage loans receivable:
Balance at December 31, 2023$2,232,913 
Initial loan advances468,805 
Construction holdbacks and draws180,893 
Paydowns and payoffs(505,091)
Fair value adjustments14,873 
Purchased loans discount amortization588 
Transfer of loans to REO(8,237)
Balance at March 31, 2024$2,384,744 
The following table summarizes the activity for the period for notes and loans receivable:
Notes ReceivableLoans ReceivableTotal
Balance at December 31, 2023
$398,227 $31,323 $429,550 
Fundings— — — 
Payment in Kind— 1,094 1,094 
Proceeds from repayments(33,250)(4,420)(37,670)
Fair value adjustments due to:
Changes in instrument-specific credit risk— — — 
Other factors— — — 
Balance at March 31, 2024
$364,977 $27,997 $392,974 
Schedule of Difference Between Aggregate UPB and Aggregate Carrying Value of Notes and Loans Receivable
The following table summarizes the difference between the aggregate UPB and the aggregate carrying value of residential mortgage loans 90 days or more past due:
March 31, 2024December 31, 2023
Days Past DueUPBCarrying ValueCarrying Value Over (Under) UPBUPBCarrying ValueCarrying Value Over (Under) UPB
90+$382,646 $344,488 $(38,158)$313,122 $281,556 $(31,566)
The following table summarizes the past due status and difference between the aggregate UPB and the aggregate carrying value of mortgage loans receivable:
March 31, 2024December 31, 2023
Days Past DueUPBCarrying ValueCarrying Value Over (Under) UPBUPBCarrying ValueCarrying Value Over (Under) UPB
Current$2,329,505 $2,344,877 $15,372 $2,184,470 $2,183,047 $(1,423)
90+41,264 39,867 (1,397)49,929 49,866 (63)
The following table summarizes the past due status and difference between the aggregate UPB and the aggregate carrying value of notes and loans receivable:
March 31, 2024December 31, 2023
Days Past DueUPB
Carrying
Value(A)
Carrying Value Over (Under) UPBUPB
Carrying
Value(A)
Carrying Value Over (Under) UPB
Current$531,394 $392,974 $(138,420)$565,786 $429,550 $(136,236)
90+— — — — — — 
(A)Notes and loans receivable are carried at fair value. See Note 19 regarding fair value measurements.