Rithm Capital Announces Close of Largest Ever Mortgage Servicing Rights Debt Issuance, NZES 2025-FHT1
Rithm Capital (NYSE: RITM) has successfully closed NZES 2025-FHT1, an $878 million mortgage servicing rights (MSR) backed securitized note, marking the largest MSR debt issuance ever completed. This single-tranche transaction represents the market's second-ever non-recourse MSR securitization, providing fixed financing over a 3-year expected asset life term.
The deal follows Rithm's previous milestone of closing NZES 2024-FNT1, the first non-recourse, non-rated MSR transaction in November 2024. Since 2015, the company has completed 17 MSR deals totaling over $7.7 billion in balance, demonstrating its significant presence in the MSR sector.
Rithm Capital (NYSE: RITM) ha chiuso con successo NZES 2025-FHT1, un titolo cartolarizzato di diritti di servizio ipotecario (MSR) del valore di 878 milioni di dollari, segnando l'emissione di debito MSR più grande mai completata. Questa transazione a singolo tranche rappresenta la seconda cartolarizzazione MSR non ricorsiva mai realizzata nel mercato, fornendo finanziamenti fissi su un termine di vita attesa dell'asset di 3 anni.
L'affare segue il precedente traguardo di Rithm, ovvero la chiusura di NZES 2024-FNT1, la prima transazione MSR non ricorsiva e non classificata, avvenuta nel novembre 2024. Dal 2015, l'azienda ha completato 17 operazioni MSR per un totale di oltre 7,7 miliardi di dollari, dimostrando la sua significativa presenza nel settore MSR.
Rithm Capital (NYSE: RITM) ha cerrado con éxito NZES 2025-FHT1, un nota securitizada de derechos de servicio hipotecario (MSR) respaldada por 878 millones de dólares, marcando la mayor emisión de deuda MSR jamás completada. Esta transacción de una sola tranche representa la segunda securitización MSR no recursiva en la historia del mercado, proporcionando financiamiento fijo durante un plazo de vida esperado del activo de 3 años.
El acuerdo sigue el hito anterior de Rithm al cerrar NZES 2024-FNT1, la primera transacción MSR no recursiva y no calificada en noviembre de 2024. Desde 2015, la empresa ha completado 17 operaciones MSR por un total de más de 7,7 mil millones de dólares, demostrando su significativa presencia en el sector MSR.
리듬 캐피탈 (NYSE: RITM)는 8억 7천 8백만 달러 규모의 모기지 서비스 권리(MSR) 기반 증권화 채권인 NZES 2025-FHT1을 성공적으로 마감하며, 역사상 가장 큰 MSR 채무 발행을 기록했습니다. 이 단일 트랜치 거래는 시장에서 두 번째 비상환 MSR 증권화로, 3년의 예상 자산 수명 기간 동안 고정 자금을 제공합니다.
이번 거래는 2024년 11월에 완료된 첫 비상환 비등급 MSR 거래인 NZES 2024-FNT1을 마감한 리듬의 이전 이정표를 따릅니다. 2015년 이후, 이 회사는 77억 달러 이상의 잔액을 포함한 17개의 MSR 거래를 완료했습니다, 이는 MSR 분야에서의 상당한 존재감을 보여줍니다.
Rithm Capital (NYSE: RITM) a réussi à clôturer NZES 2025-FHT1, une note titrisée de droits de service hypothécaire (MSR) d'une valeur de 878 millions de dollars, marquant l'émission de dette MSR la plus importante jamais réalisée. Cette transaction en une seule tranche représente la deuxième titrisation MSR non-recours jamais réalisée sur le marché, offrant un financement fixe sur une durée de vie d'actif attendue de 3 ans.
L'accord fait suite à l'étape précédente de Rithm, qui a clôturé NZES 2024-FNT1, la première transaction MSR non-recours et non notée en novembre 2024. Depuis 2015, l'entreprise a complété 17 transactions MSR totalisant plus de 7,7 milliards de dollars, démontrant sa présence significative dans le secteur des MSR.
Rithm Capital (NYSE: RITM) hat erfolgreich NZES 2025-FHT1 abgeschlossen, eine durch 878 Millionen Dollar gesicherte Hypothekendienstrechte (MSR) verbrieften Anleihe, die die größte MSR-Schuldverschreibung darstellt, die jemals abgeschlossen wurde. Diese Einzeltranchen-Transaktion stellt die zweitgrößte nicht rückzahlbare MSR-Verbriefung des Marktes dar und bietet eine feste Finanzierung über eine erwartete Laufzeit des Vermögenswerts von 3 Jahren.
Der Deal folgt dem vorherigen Meilenstein von Rithm, der den Abschluss von NZES 2024-FNT1, der ersten nicht rückzahlbaren, nicht bewerteten MSR-Transaktion im November 2024, umfasst. Seit 2015 hat das Unternehmen 17 MSR-Deals mit einem Gesamtvolumen von über 7,7 Milliarden Dollar abgeschlossen, was seine bedeutende Präsenz im MSR-Sektor zeigt.
- Secured $878 million in MSR-backed financing through largest ever MSR debt issuance
- Successfully structured as non-recourse financing, reducing company's financial risk
- Demonstrated continued market leadership with 17th MSR deal since 2015
- Fixed financing terms for 3 years provide stability and predictable costs
- None.
Non-recourse
The market’s second-ever non-recourse MSR securitization, NZES 2025-FHT1 provides fixed financing over the term of the expected life of the assets of 3 years. It builds on the Company’s track record of pioneering structured MSR financings and follows the successful close of NZES 2024-FNT1, the first non-recourse, non-rated MSR transaction, in November 2024. Since 2015, Rithm has successfully closed 17 MSR deals representing a total balance of over
“Rithm boasts over a decade of experience in the MSR sector, and our expertise, reliable servicing performance, and innovative approach are reshaping what’s possible in this exciting space,” said Michael Nierenberg, Chairman, Chief Executive Officer and President of Rithm Capital. “The success of this transaction demonstrates strong confidence in our growing platform, as well as our capability to provide new high-quality mortgage servicing solutions. We are committed to further solidifying Rithm’s leadership in the sector and expanding access to this emerging asset class.”
ABOUT RITHM CAPITAL
Rithm Capital is a global asset manager focused on real estate, credit and financial services. Rithm makes direct investments and operates several wholly-owned operating businesses. Rithm’s businesses include Sculptor Capital Management, Inc., an alternative asset manager, as well as Newrez LLC and Genesis Capital LLC, leading mortgage origination and servicing platforms. Rithm Capital seeks to generate attractive risk-adjusted returns across market cycles and interest rate environments. Since inception in 2013, Rithm has delivered approximately
View source version on businesswire.com: https://www.businesswire.com/news/home/20250323859143/en/
Media
Jonathan Gasthalter/Sam Cohen
Gasthalter & Co.
212-257-4170
rithm@gasthalter.com
Source: Rithm Capital Corp.
FAQ
What is the size and significance of Rithm Capital's latest MSR securitization NZES 2025-FHT1?
How many MSR deals has RITM completed since 2015 and what is their total value?
What is the term structure of RITM's NZES 2025-FHT1 securitization?
When did RITM complete its first non-recourse, non-rated MSR transaction?
