This report does not constitute a rating action. Newrez LLC is a wholly owned subsidiary of Rithm Capital Corp., a publicly traded investment platform in the real estate and financial services industries. We affirmed our overall AVERAGE ranking on Newrez LLC as a residential mortgage loan master servicer. The ranking outlook is stable. DALLAS (S&P Global Ratings) Oct. 26, 2026--S&P Global Ratings today affirmed its AVERAGE ranking on Newrez LLC as a residential mortgage loan master servicer. The ranking outlook is stable. Our ranking reflects Newrez's: Seasoned management team that has considerable master servicing experience. Limited track record performing master servicing for its growing private-label securitizations portfolio. Meaningful support through shared services for key support functions such as internal audit,
