XML 152 R141.htm IDEA: XBRL DOCUMENT v3.24.3
VARIABLE INTEREST ENTITIES - Narrative (Details)
1 Months Ended 3 Months Ended 9 Months Ended
May 31, 2021
USD ($)
Sep. 30, 2024
USD ($)
loan
Sep. 30, 2024
USD ($)
Jun. 28, 2024
Dec. 31, 2023
USD ($)
Sep. 25, 2020
USD ($)
Variable Interest Entity [Line Items]            
Debt instrument, face amount   $ 28,550,394,000 $ 28,550,394,000      
Long-term debt   29,600,394,000 29,600,394,000      
Notes payable [1]   9,410,773,000 $ 9,410,773,000   $ 10,360,188,000  
2022-RTL1 Securitization | Mortgage loans receivable            
Variable Interest Entity [Line Items]            
Debt instrument, term     120 years      
Securitization Notes Payable | 2022-RTL1 Securitization            
Variable Interest Entity [Line Items]            
Debt instrument, face amount   1,100,000,000 $ 1,100,000,000      
Long-term debt   $ 891,100,000 $ 891,100,000      
Securitization Notes Payable | Consumer Loan Companies            
Variable Interest Entity [Line Items]            
Debt instrument, face amount           $ 663,000,000
Ownership percentage   100.00% 100.00%      
Secured Notes and Bonds Payable: | Sculptor            
Variable Interest Entity [Line Items]            
Fair value of notes   $ 217,300,000 $ 217,300,000      
Notes payable   350,000,000 350,000,000      
Notes payable retained by company   127,800,000 127,800,000      
Secured Notes and Bonds Payable: | Class A Notes | Sculptor            
Variable Interest Entity [Line Items]            
Notes payable retained by company   20,000,000 20,000,000      
Secured Notes and Bonds Payable: | Class C Notes | Sculptor            
Variable Interest Entity [Line Items]            
Notes payable retained by company   20,000,000 20,000,000      
Secured Notes and Bonds Payable: | Subordinated Notes | Sculptor            
Variable Interest Entity [Line Items]            
Notes payable retained by company   87,800,000 87,800,000      
VIE, Consolidated | Consumer Loan Companies            
Variable Interest Entity [Line Items]            
Ownership percentage       100.00%    
VIE, Consolidated | Securitization Notes Payable | Securitization Facility, 2021-1            
Variable Interest Entity [Line Items]            
Debt instrument, face amount $ 750,000,000          
Debt instrument, term 3 years          
VIE, Consolidated | Line of Credit | Revolving Credit Facility            
Variable Interest Entity [Line Items]            
Maximum borrowing capacity   $ 52,500,000 52,500,000      
Maximum borrowing capacity per quarter     $ 20,000,000      
Variable interest rate spread     3.00%      
Unused commitment fee percentage     1.15%      
Variable Interest Entity, Not Primary Beneficiary | Credit Risk Transfer LLC            
Variable Interest Entity [Line Items]            
Ownership percentage   70.00% 70.00%      
Related Party            
Variable Interest Entity [Line Items]            
Number of interest tranches sold | loan   2        
Assets   $ 371,500,000 $ 371,500,000      
Liabilities   352,900,000 352,900,000      
Deconsolidated recognized loss   900,000 900,000      
Fair value of notes   18,700,000 18,700,000      
Related Party | VIE, Consolidated            
Variable Interest Entity [Line Items]            
Fair value of notes   2,500,000,000 2,500,000,000      
Related Party | VIE, Consolidated | Retained Interest            
Variable Interest Entity [Line Items]            
Fair value of notes   $ 400,000,000 $ 400,000,000      
Advance Purchaser | Corporate Joint Venture            
Variable Interest Entity [Line Items]            
Ownership percentage   89.30% 89.30%      
Advance Purchaser | Corporate Joint Venture | VIE, Consolidated            
Variable Interest Entity [Line Items]            
Ownership percentage   89.30% 89.30%      
[1] The Company’s consolidated balance sheets include assets and liabilities of consolidated variable interest entities (“VIEs”) and certain other consolidated VIEs classified as collateralized financing entities (“CFEs”) that are presented separately and measured under the CFE election. VIE assets can only be used to settle obligations and liabilities of the VIEs. VIE creditors do not have recourse to Rithm Capital Corp. As of September 30, 2024 and December 31, 2023, total assets of such consolidated VIEs were $5.4 billion and $5.6 billion, respectively, and total liabilities of such consolidated VIEs were $4.4 billion and $4.7 billion, respectively. See Note 20 for further details.