Rithm Joins Varde in Snapping Up Goldman’s Consumer Loan Book

Real estate investment trust Rithm Capital took on $1.4 billion of loans from Goldman Sachs Group Inc. as the Wall Street giant rid itself of consumer borrowings from its Marcus unit.

Rithm, which invests in financial services assets, bought the bank’s unsecured consumer loans at a discount to face value, according to Chief Executive Officer Michael Nierenberg, who disclosed the size of the purchase. The portfolio of loans Rithm purchased were to borrowers with an average FICO score of 735, he said.