Rithm Capital Buys $1.4B Of Marcus Loans From Goldman Sachs
Portfolio Pulse from Nabaparna Bhattacharya
Rithm Capital Corp. (NYSE:RITM) has purchased $1.4 billion of prime unsecured consumer loans from Goldman Sachs Group, Inc. (NYSE:GS). This is part of Goldman Sachs' plan to exit the lending business, having recently sold $1 billion of Marcus loans to Varde Partners. RITM shares are trading higher by 1.01% in the premarket session.
July 21, 2023 | 12:17 pm
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POSITIVE IMPACT
Rithm Capital's acquisition of $1.4 billion of prime unsecured consumer loans from Goldman Sachs could strengthen its position in the consumer finance sector.
The acquisition of a significant amount of consumer loans could potentially increase Rithm Capital's revenues and profitability, leading to a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Goldman Sachs continues to exit the lending business, selling $1.4 billion of prime unsecured consumer loans to Rithm Capital.
The sale of a significant portion of its consumer loans portfolio could lead to a decrease in Goldman Sachs' revenues and profitability in the short term, potentially negatively impacting its stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100