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OTHER ASSETS AND LIABILITIES (Tables)
 9 Months Ended
Sep. 30, 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 — other assets and accrued expenses and other liabilities on the consolidated balance sheets consist of the following:
Other AssetsAccrued Expenses
and Other Liabilities
September 30, 2024December 31,
2023		September 30, 2024December 31,
2023
CLOs, at fair value(A)
$275,771 $226,486 Accounts payable$180,054 $165,144 
Deferred tax asset(G)
— 279,019Accrued compensation and benefits191,737 290,464 
Derivative and hedging assets (Note 17)
50,514 28,080
Deferred tax liability(G)
587,828 801,857 
Due from related parties30,370 32,319
Derivative liabilities (Note 17)
85,415 51,765 
Equity investments(B)
466,813 173,882Escheat payable207,209 169,914 
Excess MSRs, at fair value (Note 13)
375,923 271,150Excess spread financing107,524 — 
Goodwill (Note 15)
131,857 131,857Interest payable206,395 166,620 
Income and fees receivable33,390 59,134
Lease liability (Note 16)
170,709 159,236 
Intangible assets (Note 15)
342,052 387,920
Notes receivable financing(F)
367,373 — 
Loans receivable, at fair value(C)
29,114 31,323Unearned income and fees21,755 37,468 
Margin receivable, net(D)
121,020 75,947Other liabilities231,517 223,293 
Non-Agency RMBS, at fair value(A)
579,717 577,543$2,357,516 $2,065,761 
Notes receivable, at fair value(E)
384,126 398,227
Operating lease right-of-use assets (Note 16)
103,870 104,207
Other receivables154,862 152,046
Prepaid expenses65,381 62,513
Principal and interest receivable177,611 168,516
Property and equipment68,134 40,038
REO24,732 15,507
Servicer advance investments, at fair value (Note 14)
341,303 376,881
Servicing fee receivables195,163 156,777
Warrants, at fair value10,092 16,599
Other assets200,698 182,881
$4,162,513 $3,948,852 
(A)Non-Agency RMBS and CLOs were reclassified from real estate and other securities, as presented in prior periods, to other assets on the consolidated balance sheets as of June 30, 2024.
(B)Represents equity investments in (i) commercial redevelopment projects, (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, (iii) funds managed by Sculptor, (iv) credit risk transfer LLC that holds exposure in warehouse lines collateralized by residential mortgage loans, measured at fair value under the fair value option election with changes in fair value presented in other income and (v) Great Ajax.
(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 measured at fair value under the fair value option.
(D)Represents collateral posted as a result of changes in fair value of Rithm Capital’s (i) government and government-backed securities securing its secured financing agreements and (ii) derivative instruments.
(E)Represents notes receivable secured by commercial properties. The notes are measured at fair value under the fair value option.
(F)During the second quarter of 2024, the Company transferred an investment in a note receivable with a fair value of $365.0 million, subject to a repo financing of $323.5 million, from a third party to a nonconsolidated joint venture for cash consideration of $48.0 million. The transaction did not meet sale accounting under ASC 860 and, as a result, was treated as a secured borrowing for accounting purposes for which the Company elected the fair value option and is included in accrued expenses and other liabilities in the consolidated balance sheets. The amount presented within notes receivable financing is comprised of the repo financing and the non-recourse liability in a secured borrowing. The Company continues to reflect the transferred note in other assets in the consolidated balance sheets, at fair value.
(G)Effective in the third quarter of 2024, Rithm Capital’s taxable subsidiaries file combined federal and state returns and as a result, present deferred tax liability or asset on a net basis on its consolidated balance sheets.
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 
Purchases12,919 
Property received in satisfaction of loan21,695 
Sales(A)
(24,317)
Valuation (provision) reversal (1,072)
Balance at September 30, 2024$24,732 
(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:
September 30, 2024
December 31, 2023
Outstanding Face AmountCarrying
Value		Loan
Count		Weighted Average Yield
Weighted Average Life (Years)(A)
Carrying Value
Investments of consolidated CFEs(B)
$3,072,082 $2,956,663 8,068 5.6 %26.1$3,038,587 
Residential mortgage loans, HFI, at fair value409,000 378,032 7,615 8.1 %5.5379,044 
Residential Mortgage Loans, HFS:
Acquired performing loans(C)
$57,957 $53,007 1,708 7.9 %5.4$57,038 
Acquired non-performing loans(D)
20,382 16,932 243 9.1 %6.721,839 
Total Residential Mortgage Loans, HFS
$78,339 $69,939 1,951 8.2 %5.7$78,877 
Residential Mortgage Loans, HFS, at Fair Value:
Acquired performing loans(C)(E)
$255,673 $247,065 1,330 5.5 %22.3$400,603 
Acquired non-performing loans(D)(E)
221,555 206,108 1,060 4.8 %27.0204,950 
Originated loans2,580,423 2,662,761 8,585 6.6 %29.11,856,312 
Total Residential Mortgage Loans, HFS, at Fair Value
$3,057,651 $3,115,934 10,975 6.4 %28.4$2,461,865 
(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 of consolidated CFEs are classified as Level 2 in the fair value hierarchy and valued based on the fair value of the more observable financial liabilities under the CFE election.
(C)Performing loans are generally placed on non-accrual status when principal or interest is 90 days or more past due.
(D)As of September 30, 2024, Rithm Capital has placed non-performing loans, HFS on non-accrual status, except as described in (E) below.
(E)Includes $178.8 million and $208.2 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 as of September 30, 2024.
The following table summarizes mortgage loans receivable, at fair value and mortgage loans receivable held by consolidated CFEs by loan type as of September 30, 2024:
Mortgage Loans Receivable - Carrying
Value(A)
Mortgage Loans Receivable of Consolidated CFEs - Carrying
Value(A)
Total Carrying
Value		% of PortfolioLoan
Count		% of PortfolioWeighted Average YieldWeighted Average Original Life (Months)
Weighted Average Committed Loan Balance to Value(B)
Construction$795,156 $471,941 $1,267,097 42.5 %52833.8 %11.3 %19.8
72.2% / 62.3%
Bridge817,113 343,117 1,160,230 43.7 %53834.4 %10.1 %26.167.4%
Renovation257,583 101,848 359,431 13.8 %49831.8 %10.5 %12.9
82.0%/ 67.6%
$1,869,852 $916,906 $2,786,758 100.0 %1,564100.0 %10.7 %20.2N/A
(A)Mortgage loans receivable are carried at fair value under the fair value option election. Mortgage loans of consolidated CFEs are classified as Level 3 and valued based on the more observable financial liabilities of consolidated CFEs. See Note 19 regarding fair value measurements.
(B)Weighted by commitment Loan-to-Value (“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 of loans included in mortgage loans receivable, at fair value on the consolidated balance sheets:
Balance at December 31, 2023
$1,879,319 
Initial loan advances1,356,540 
Construction holdbacks and draws630,381 
Paydowns and payoffs(1,146,754)
Purchased loans discount amortization1,006 
Transfer of loans to REO(6,919)
Transfers from (to) assets of consolidated CFEs(881,378)
Fair value adjustments due to:
Changes in instrument-specific credit risk17,995 
Other factors19,662 
Balance at September 30, 2024$1,869,852 
The following table summarizes the activity for the period for notes and loans receivable:
Total
Balance at December 31, 2023
$429,550 
Fundings17,500 
Payment in kind2,211 
Proceeds from repayments(37,670)
Fair value adjustments due to:
Changes in instrument-specific credit risk— 
Other factors1,649 
Balance at September 30, 2024
$413,240 
Schedule of Past Due Status and Difference Between Aggregate UPB and Aggregate Carrying Value of Notes and Loans Receivable
The following table summarizes the past due status and difference between the aggregate UPB and the aggregate carrying value of residential mortgage loans, HFS and residential mortgage loans, HFI at fair value on the consolidated balance sheets:
September 30, 2024December 31, 2023
Days Past DueUPBCarrying ValueCarrying Value Over (Under) UPBUPBCarrying ValueCarrying Value Over (Under) UPB
Current$3,241,643 $3,285,610 $43,967 $2,690,198 $2,638,230 $(51,968)
90+303,347 278,295 (25,052)313,122 281,556 (31,566)
Total$3,544,990 $3,563,905 $18,915 $3,003,320 $2,919,786 $(83,534)
The following table summarizes the past due status and difference between the aggregate UPB and the aggregate carrying value of loans included in mortgage loans receivable, at fair value on the consolidated balance sheets:
September 30, 2024
December 31, 2023
Days Past DueUPBCarrying ValueCarrying Value Over (Under) UPBUPBCarrying ValueCarrying Value Over (Under) UPB
Current$1,787,026 $1,820,179 $33,153 $1,838,935 $1,837,513 $(1,422)
90+54,233 49,673 (4,560)41,869 41,806 (63)
Total$1,841,259 $1,869,852 $28,593 $1,880,804 $1,879,319 $(1,485)
The following table summarizes the past due status and difference between the aggregate UPB and the aggregate carrying value of notes and loans receivable:
September 30, 2024December 31, 2023
Days Past DueUPB
Carrying
Value(A)
Carrying Value Over (Under) UPBUPB
Carrying
Value(A)
Carrying Value Over (Under) UPB
Current$481,740 $384,126 $(97,614)$565,786 $429,550 $(136,236)
90+29,114 29,114 — — — — 
Total$510,854 $413,240 $(97,614)$565,786 $429,550 $(136,236)
(A)Notes and loans receivable are carried at fair value. See Note 19 regarding fair value measurements.