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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News
- Why Rithm (RITM) Dipped More Than Broader Market Today [Yahoo! Finance]Yahoo! Finance
- Rithm Capital Corp. Declares Fourth Quarter 2024 Common and Preferred Dividends [Yahoo! Finance]Yahoo! Finance
- Rithm Capital Corp. Declares Fourth Quarter 2024 Common and Preferred DividendsBusiness Wire
- KBRA Assigns Preliminary Ratings to New Residential Mortgage Loan Trust 2024-NQM3 (NRMLT 2024-NQM3)Business Wire
- Rithm Capital Corp. (NYSE: RITM) had its price target raised by analysts at Keefe, Bruyette & Woods from $13.00 to $13.50. They now have an "outperform" rating on the stock.MarketBeat
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