Genesis Capital Review 2026: Who Owns It and What Rithm Reports

Who owns Genesis Capital: Oaktree, then Goldman Sachs, now Rithm

The question Google itself suggests for this name is who the owner is, and the filings answer it. Rithm Capital owns Genesis. Genesis's website says it is “a wholly owned subsidiary of Rithm Capital Corp.” (read October 10, 2026), and the Global Legal Entity Identifier record for Genesis lists Rithm Capital Corp. as its direct parent (GLEIF, golden copy of October 9, 2026). Rithm is the former New Residential Investment Corp., which also owns the Newrez mortgage lender and servicer.

Goldman owned Genesis for about four years (October 2017 to December 2021, our arithmetic) and then financed most of the exit: the $1.26 billion of financing Goldman had in place at closing is about 77% of the $1.63 billion price (our arithmetic). At signing, Genesis's chief executive at the time said “our portfolio has exhibited minimal losses,” and Goldman's managing director said the team had “grown their book substantially while maintaining exceptional credit quality.” Both are quotes in the buyer’s press release, not audited figures; the numbers Rithm has filed since are in the sections below.

Four things called Genesis Capital in the search results

The first page of results mixes unrelated firms. Before you send documents to anyone, check the domain.

How big Genesis is: Rithm's own numbers

Genesis does not file with the SEC. Its numbers sit inside Rithm's annual and quarterly reports, where it is the Residential Transitional Lending segment. Rithm describes Genesis as “the second-largest U.S. residential transitional lender” on market data and management estimates, a claim we cannot check. What the filings do give is a series nobody else prints.

Two cautions. Rithm switched from counting UPB (2023 and 2024) to total commitments (2025 and 2026), and commitments are larger than what is funded at closing, so do not read 2024 to 2025 as a growth rate; the first-half comparison, $3,493.3 million against $2,140.6 million, uses one basis and is up 63.2% (our arithmetic). And segment profit fell in 2025 ($87.7 million against $111.4 million) while volume rose; Rithm's tables in the 10-K do not break out why, so we do not guess.

The loan book at June 30, 2026

This is the part no review site shows. Rithm's 10-Q reports the loans by type, with the yield, the original life and the leverage it underwrote to.

The book is 30% larger than at December 31, 2025 in carrying value ($5,071.1 million against $3,914.7 million, our arithmetic), and the weighted average yield fell from 10.1% to 9.7%. Total commitments are $7,391.2 million, so a large part of the exposure is still to be drawn: Genesis had commitments to fund up to $2.2 billion of additional advances on existing loans at June 30, 2026. Rithm's risk factors add that “Most of Genesis’s loans are construction or renovations loans,” that loans typically have initial terms of less than 18 months (subject to extension) with a balloon payment, and that at December 31, 2025 36.8% of the loans by UPB were in California and 12.0% in Florida.

Who is behind on payments

Rithm splits loans by days past due. This table covers the loans it holds at fair value and leaves out about $1.2 billion held in consolidated securitization entities, for which we found no such split in that table.

The share rose through 2025, then fell as the book grew; in dollars the 90+ day balance has been flat at about $97 million to $101 million for three quarters. Rithm carries the June 30, 2026 90+ day loans at $87.1 million against $96.7 million of UPB, about 90 cents on the dollar (our arithmetic), so it has marked in a loss on them. A construction and bridge book will always have some loans past maturity while projects finish, so the useful question for a borrower is how extensions are handled, which is where the fee list below matters.

Loan terms: what the website says and what Rithm discloses

On genesiscapital.com (October 10, 2026, the company's claims): six programs (Construction, Fix and Flip under “Renovation & Value Add,” Bridge, Rental Hold, One-Time Close and a Revolving Credit Line), “in-house fund control” for draws, a “No-Retrade Approach,” and nationwide lending in “primary, secondary, and select tertiary markets.” The broker page offers “Financing Solutions from $100K to $75MM.” It does not lend on owner-occupied homes. The revolving credit line is for experienced multi-project sponsors and, asked whether it suits new or smaller investors, the FAQ answers “Typically no.” No program page gives a rate, a maximum loan-to-value, a fee or a prepayment term; the rental hold page says only “Terms vary by project” and offers “Flexible prepay options designed around your strategy.”

In Rithm's 10-Q for June 30, 2026 (the lender's owner, filed with the SEC):

For a borrower, the practical reading is that the website is a brochure and the 10-Q is the rate card: expect a floating rate over SOFR, a point or so up front, extension and amendment fees if your project runs long, and a guarantee behind the loan.

What 2025 HMDA data show Genesis charged

Genesis Capital, LLC (LEI 254900114YHTRFBALC74) files Home Mortgage Disclosure Act data for 2023, 2024 and 2025. We downloaded all 1,315 of its 2025 records and counted only those with action taken “loan originated” (the script and output are in the sources). HMDA holds only the loans Genesis reports as dwelling-secured business-purpose loans, so it is smaller than Rithm's counts: 1,286 loans against 1,695 for 2025, and $2.91 billion against $4.77 billion of commitments, although the two use different amounts (our arithmetic: about 76% of the loans).

The rate fell 0.76 of a point in a year (our arithmetic), and almost all the loans above 10% disappeared. Rate is the initial note rate; HMDA shows no fees for these loans (total loan costs, points and origination charges are “NA” on all 1,286), no prepayment penalty term, and flags every loan as interest-only and balloon.

1,280 of the 1,286 loans have a term of 36 months or less. Bigger loans cost slightly more, not less, at Genesis in 2025:

That runs against the idea that Genesis is cheaper because it lends big: its overall median is low partly because it prices the whole book near 8.5% to 8.9%, and the largest loans are not discounted. See our hard money lender ranking and hard money rates page for how it compares with other lenders on the same federal file.

Where the loans are: California 628 loans and $1,456.6 million (48.8% of loans and 50.1% of dollars, our arithmetic), Washington 106, Florida 84 and Arizona 63, with at least one loan in 32 states. The median California loan is $1,220,000; outside California it is $860,000, and both medians are 8.75%. By use, 812 were purchases, 367 refinances, 30 cash-out refinances and 77 home improvement loans. 127 loans, $992.8 million, were on properties of five or more units. Small loans exist: 372 loans were under $500,000 and 152 under $250,000. At the other end, 110 loans of $5 million or more make up $1,404.5 million, 48.3% of the dollars (our arithmetic). Of 1,313 decided applications, 27 were denied (2.1%, our arithmetic), most often for credit history (11) or collateral (8) as the first reason.

Where the money comes from, and who ends up holding your loan

Genesis lends from warehouse lines and sells or securitizes loans. At June 30, 2026 Rithm had $3,019.7 million drawn on warehouse facilities for residential transition loans (weighted funding cost 5.8%, maturities from July 2026 to March 2028), up from $2,019.8 million at December 31, 2025. It held $853.2 million of investments in RTL securitization trusts against $764.9 million of notes payable. On April 9, 2024 Genesis announced a $500 million rated securitization of these loans, which it called the largest ever, with 46 investors and Goldman Sachs leading the offering. In the second quarter of 2026 it sold about $102.1 million of UPB of loans to an affiliated Rithm vehicle, Rithm Property Trust, for about $103.0 million and kept the servicing for an annual fee of 75 basis points.

For a borrower this means your loan may be held by a securitization trust or an affiliate, with Genesis still servicing it and still the party you call about draws and extensions. HMDA agrees: 414 of the 1,286 loans in 2025 went to private securitizers. If you are weighing the lender's staying power, the warehouse and securitization lines above are the ones to watch, and Rithm's filings are where they appear.

Licences, complaints and courts

Genesis's licensing page lists 19 licences and registrations (our count), among them a California Department of Financial Protection and Innovation financing law licence (60DBO55809), mortgage licences in Arizona, Florida, Georgia, Idaho, Minnesota, Nevada, Oregon and Utah, servicer licences, collection-agency registrations and real estate broker licences held by an affiliate. It lends in 32 states by HMDA, which is more than that list. In 2025 it originated loans in Washington (106), Virginia (46), Ohio (36), Texas (33), Missouri (22), Maryland (18), Connecticut (16), Colorado (12) and Indiana (10), 299 loans in all (our sum), in states the page does not name. Business-purpose loans are exempt from many state mortgage licensing laws, so this is a question to put to Genesis or to the state regulator, not a finding. We could not read NMLS Consumer Access, which asks visitors to pass a verification page, so the licence list is Genesis's own claim.

The CFPB Consumer Complaint Database (18,300,534 complaints on October 10, 2026) returns zero complaints for the company name “Genesis Capital LLC” and zero for the phrase “genesis capital” in any field. That is weak evidence for a lender whose loans are not consumer loans. A CourtListener search for the exact name on October 10, 2026 returned 42 federal dockets; the captions where the company is a named party are mostly cases it brought, and two name it as a defendant. We did not open each docket to confirm it is the Rithm subsidiary, and we found no SEC, DOJ, CFPB or state enforcement action against it.

Where the record disagrees with itself

• Oaktree: HousingWire (2017) says a four-year agreement began in 2013; Genesis's website says 2014.
• Goldman: HousingWire reports the October 12, 2017 announcement; the website says “2018 Acquired by Goldman Sachs.” We saw no primary closing date, and Goldman's 10-Ks for 2017 to 2019 do not name Genesis.
• Spread ceiling: SOFR plus “4% to 17%” in the 10-K for 2025; “4% to 15%” in the 10-Q for June 30, 2026.
• Average loan size: $5.0 million in the 10-Q's text and $3.9 million in its table.
• Volume: Genesis's website says that in 2023 it “Surpassed $20 billion in total originations”; Rithm's filings give annual counts and amounts, not a lifetime total.
• Independent or not: the Commercial Observer article on how Genesis is redefining private lending (August 29, 2025) is bylined “By Genesis Capital” and marked “Presented By: Genesis Capital,” so it is sponsored content, not reporting. It says Genesis originated $3.65 billion in 2024, against $3.6 billion of UPB in Rithm's 10-K.

What a borrower can do with this

• Check the domain. genesiscapital.com is the lender. genesis-capital.com is a different firm.
• Ask for the rate card, not the brochure. Request in writing the spread over SOFR, any floor, the origination fee (Rithm says 1.2% on average), extension and amendment fees, draw and inspection fees, and the guarantee.
• Use 8.75% as a yardstick, not a quote. That is the 2025 HMDA median note rate, with no fees in it. Rates have moved since and your project is not the median.
• Plan for extensions. The average original life is about 21.7 months and the typical initial term is under 18 months, with a balloon at maturity. Ask what an extension costs before you sign. Our fix-and-flip calculator shows how extra months and points change your return.
• Ask who services the loan. Genesis keeps servicing loans it sells to Rithm affiliates, at 75 basis points a year.
• Know what Genesis says it wants. Its pages target experienced developers, and its revolving credit line is “typically” not for new or smaller investors, although 372 of its 2025 loans were under $500,000.
• Get a second quote on the same file. Our ground-up construction loan guide and the CoreVest review cover what to ask a lender of this type.

Genesis files nothing with the SEC under its own name, so the alert below follows its parent. It sends a note when Rithm Capital (CIK 1556593) files a new 10-Q, 10-K or 8-K that could change the Genesis numbers on this page.

FAQ

Sources, read October 10, 2026: Rithm Capital Corp. (CIK 1556593) Forms 10-K for 2021 to 2025 and 10-Q for March 31 and June 30, 2026, the 8-K and Exhibit 99.1 of October 11, 2021 and the 8-K of December 20, 2021; Rithm's press release of April 9, 2024; Goldman Sachs Group Forms 10-K for 2017 to 2019 (CIK 886982); HousingWire, October 12, 2017; Commercial Observer sponsored page, August 29, 2025; Genesis Capital, LLC's HMDA loan-level records for 2023 to 2025 (FFIEC HMDA Data Browser, LEI 254900114YHTRFBALC74) and the FFIEC filer lists; the GLEIF record for that LEI and its direct parent; the SEC Investment Adviser Public Disclosure search; the CFPB Consumer Complaint Database; CourtListener; genesiscapital.com (home, loan programs, brokers, about, licensing) and genesis-capital.com. Statements about products, licences and track record from genesiscapital.com are the company's claims. Sums, shares, growth rates and delinquency rates are our arithmetic. This is analysis of public documents, not investment, legal, lending or tax advice.