Latest news with #NRMLT2025-NQM4
Business Wire
5 days ago
- Business
- Business Wire
Rithm Capital Closes $482.6 Million Non-QM Loan Securitization
NEW YORK--(BUSINESS WIRE)--Rithm Capital Corp. (NYSE: RITM, 'Rithm Capital' or the 'Company'), a global, multi-dimensional asset manager with deep experience investing in real estate and credit, today announced the close of NRMLT 2025-NQM4, a $482.6 million securitization backed by a pool of non-qualified residential mortgage ('Non-QM') loans. The loans are serviced by Rithm's subsidiary, Newrez LLC, one of the largest mortgage servicers in the US. NRMLT 2025-NQM4 is collateralized by a pool of 931 fully amortizing and interest-only, fixed-rate residential mortgage loans secured by first liens on primarily one-to-four family residential properties. The loans have a weighted averaged credit score of 752 and a loan-to-value ratio of 70.08. The debt tranches issued in the securitization were rated by S&P and KBRA with tranches rated AAA through BB+. Nomura structured the deal and served as joint bookrunner, alongside Barclays, BMO, Deutsche Bank, Goldman Sachs, Morgan Stanley, and Wells Fargo. 'We are pleased to continue to enhance the scale and sophistication of our residential mortgage origination and servicing platform,' said Sanjeev Khanna, Managing Director at Rithm Capital. 'This transaction underscores the depth and breadth of our capabilities and access to scalable, high-quality Non-QM assets. We remain focused on leveraging our sourcing channels to deliver compelling opportunities for our investors across various market conditions.' Rithm is a leading Non-QM issuer, with approximately $8.2 billion unpaid principal balance issued across 24 deals. NRMLT 2025-NQM4 marks Rithm's fourth Non-QM transaction in 2025. About Rithm Capital Rithm Capital Corp. is a global, multi-dimensional asset manager with significant experience managing credit and real estate assets. The firm combines deep institutional expertise with an entrepreneurial culture that drives innovation and disciplined growth across multiple market segments. Rithm's integrated investment platform spans across asset based finance, direct lending in residential and commercial real estate, mortgage servicing rights (MSRs) and structured credit. Through subsidiaries such as Newrez, Genesis Capital, and Sculptor Capital Management, Rithm has established a unique owner-operator model, capable of sourcing, financing, and actively managing debt and equity investments, to drive value for shareholders and fund investors.
Business Wire
15-07-2025
- Business
- Business Wire
KBRA Assigns Preliminary Ratings to New Residential Mortgage Loan Trust 2025-NQM4 (NRMLT 2025-NQM4)
NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 8 classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2025-NQM4 (NRMLT 2025-NQM4), a $488.4 million non-prime RMBS transaction sponsored by Rithm Capital Corp. (formerly New Residential Investment Corp.), a publicly traded (NYSE: RITM) real estate investment trust (REIT). The underlying mortgages in the subject pool were originated by NewRez LLC (35.8%) and Champions Funding, LLC (25.7%). In addition, all loans will be serviced by Shellpoint Mortgage Servicing, a brand of NewRez LLC. NRMLT 2025-NQM4 is collateralized by a pool of 938 residential mortgages. Borrowers in NRMLT 2025-NQM4 possess a non-zero WA original credit score of 752 and exhibit a weighted average (WA) original loan-to-value (LTV) of 70.1% and a WA combined LTV (CLTV) of 70.2%. The loans are seasoned approximately two months and consist of 100.0% fixed-rate mortgages (FRMs). Approximately 6.6% of the pool has an initial interest-only period. KBRA's rating approach incorporated loan-level analysis of the mortgage pool through its Residential Asset Loss Model (REALM), an examination of the results from third-party loan file due diligence, cash flow modeling analysis of the transaction's payment structure, reviews of key transaction parties and an assessment of the transaction's legal structure and documentation. This analysis is further described in our U.S. RMBS Rating Methodology. To access ratings and relevant documents, click here. Click here to view the report. Related Publications Methodologies RMBS: U.S. RMBS Rating Methodology Structured Finance: Global Structured Finance Counterparty Methodology ESG Global Rating Methodology Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1010386
