KBRA Assigns Preliminary Ratings to New Residential Mortgage Loan Trust 2026-NQM8 (NRMLT 2026-NQM8)

About this update from Rithm Capital Corp.

NEW YORK, July 07, 2026--(BUSINESS WIRE)--KBRA assigns preliminary ratings to 10 classes of mortgage-backed notes from New Residential Mortgage Loan Trust 2026-NQM8 (NRMLT 2026-NQM8), a $480.2 million non-prime RMBS transaction sponsored by Rithm Capital Corp. (formerly New Residential Investment Corp.), a publicly traded (NYSE: RITM) real estate investment trust (REIT). The underlying mortgages in the subject pool were primarily originated by NewRez LLC (51.3%) and Champions LLC (20.3%). In addition, all loans will be serviced by NewRez LLC. NRMLT 2026-NQM8 is collateralized by a pool of 883 residential mortgages seasoned approximately three months. Borrowers in NRMLT 2026-NQM8 possess a non-zero WA original credit score of 751 and exhibit a weighted average (WA) original loan-to-value (LTV) of 71.1% and a WA combined LTV (CLTV) of 71.1%. KBRA's rating approach incorporated loan-level analysis of the mortgage pool through its Residential Asset Loss Model (REALM), an examination of the results from third-party loan file due diligence, cash flow modeling analysis of the transaction's payment structure, reviews of key transaction parties and an assessment of the transaction's legal structure and documentation. This analysis is further described in our U.S. RMBS Rating Methodology. To access ratings and relevant documents, click here. Click here to view the report. Related Publications Methodologies Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scale...

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