Rithm Capital Closes 1-Yr Forward Flow Agreement To Acquire $1B In Home Improvement Loans Originated And Serviced By Upgrade Inc.

Rithm Capital Corp. (NYSE:RITM, "Rithm" or the "Company"))), a global, multi-dimensional asset manager with deep experience investing in real estate and credit, today announced it has closed a one-year forward flow agreement to acquire $1 billion in home improvement loans originated and serviced by Upgrade, Inc. ("Upgrade"), a fintech company that offers affordable and responsible credit and mobile banking to mainstream consumers.

This acquisition enables Rithm to underwrite and manage a high-quality pool of loans in a growing area of the market and expand its asset-based finance platform.

Upgrade has originated nearly $2 billion in affordable and responsible home improvement credit through more than 100,000 loans. Utilizing a robust technology platform and a growing merchant partner network, Upgrade creates an accessible and flexible customer solution to enhance living spaces, improve energy efficiency, and increase property value through essential upgrades.