Genesis Capital Closes Its Second Rated Residential Transitional Loan Securitization [Yahoo! Finance]
Rithm Capital Corp. (RITM)
Company Research
Source: Yahoo! Finance
As the second rated RTL securitization for Genesis, the transaction received strong support from the investment community, including multiple repeat participants from Genesis' first rated securitization. This transaction marks the second largest rated residential transitional loan securitization, surpassed in size only by the company's April 2024 close of the largest ever rated RTL securitization (NRMLT 2024-RTL1), extending Genesis' track record of executing on novel and innovative transactions. It is also the first rated RTL securitization in the industry to feature a three-year term, granting Genesis more financial flexibility and tapping a longer tenor investor base. The securitization brings Genesis' total issuance to over $1 billion, allowing Genesis to compete more effectively in the industry and solidifying its position as a clear leader in the RTL sector. The deal's structure featured four classes of offered bonds ranging from single A rated to single B rated bonds. Go
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RITM
News
- Rithm Capital Corp. (NYSE: RITM) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $13.00 price target on the stock.MarketBeat
- Rithm Capital Announces the Closing of Securitized Notes Backed by Mortgage Servicing Rights [Yahoo! Finance]Yahoo! Finance
- Rithm Capital Announces the Closing of Securitized Notes Backed by Mortgage Servicing RightsBusiness Wire
- Rithm Capital Up 3.3% Since Q3 Earnings Beat on Interest Income Growth [Yahoo! Finance]Yahoo! Finance
- Rithm Capital's (NYSE:RITM) five-year earnings growth trails the 2.3% YoY shareholder returns [Yahoo! Finance]Yahoo! Finance
RITM
Earnings
- 10/29/24 - Beat
RITM
Sec Filings
- 11/12/24 - Form 3
- 11/12/24 - Form 3
- 11/5/24 - Form 4
- RITM's page on the SEC website