Rithm Capital Corp. announced it has successfully closed NZES 2025-FHT1, an $878 million mortgage servicing rights (MSR) backed secured note. The single-tranche transaction is the largest MSR debt issuance ever, marking a significant milestone in the evolution of MSR-backed financing structures.
The market's second-ever non-recourse MSR securitization, NZES 2025-FHT 1 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 $7.7 billion.
