Rithm Capital, the parent company of multichannel mortgage lender Newrez, has struck a deal with an institutional investor to potentially acquire up to $1.5 billion in residential transitional loans (RTLs). 

The asset manager announced the agreement on Tuesday but did not disclose the name of the institutional investor. RTLs are short-term loans designed for real estate investors who aim to fix and flip or construct residential properties.

Through a dedicated investment partnership, the parties will fund the acquisition, with an initial target of $500 million. Rithm Capital Advisors LLC will details ⇒

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