Rithm closes non-QM securitization, issues $500M debt offering
Briefly

Rithm Capital recently issued 1,039 residential mortgages with an average credit score of 750 and a 70 loan-to-value ratio, indicating a robust origination and servicing platform. Managing Director Sanjeev Khanna highlighted the significance of this transaction, crediting strong partnerships with Newrez. Simultaneously, Rithm announced a $500 million senior unsecured notes issuance, priced at 8%, set to close on June 20. Proceeds will fund the redemption of existing notes and support corporate goals. Other industry players are similarly pursuing debt offerings, primarily to refinance.
The latest issuance consists of 1,039 residential mortgages, averaging a credit score of 750 and a loan-to-value ratio of 70, showcasing the strength in our portfolio.
Sanjeev Khanna emphasized that the transaction illustrates Rithm Capital's capabilities in mortgage origination and servicing, built on strong synergies with Newrez.
Rithm's $500 million senior unsecured notes offering has been priced at 8% with proceeds aimed at redeeming older notes and supporting corporate needs.
This offering is expected to close on June 20, as Rithm joins others like Rocket Companies and loanDepot in debt offerings focusing on refinancing.
Read at www.housingwire.com
[
|
]