Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 416

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 416
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ars in millions)September 30,2025June 30,202520252024QoQ ChangeYoY ChangeProduction by Channel:Direct to Consumer $1,684$1,602$4,456$2,614$82 $1,842 Retail / Joint Venture7357982,1133,224(63)(1,111)Wholesale2,8082,5826,9274,866226 2,061 Correspondent11,17511,31631,03330,622(141)411 Total Production by Channel$16,402$16,298$44,529$41,326$104$3,203

Three months ended September 30, 2025 compared to the three months ended June 30, 2025

Gain on originated residential mortgage loans, HFS, net increased $26.6 million, primarily driven by an increase in pull through adjusted lock volume across channels and increase in gains from derivatives related to origination, partially offset by lower gain on sale margins.

For the three months ended September 30, 2025, funded loan origination volume was $16.4 billion, up from $16.3 billion in the three months ended June 30, 2025. Of all funded origination volume, 74.8% was purchase, increased compared to 72.8% in the three months ended June 30, 2025, as home sales trend higher. While funded loan origination volume increased quarter over quarter, gain on sale margin for the three months ended September 30, 2025 was 1.00%, 4 bps lower than 1.04% for the three months ended June 30, 2025, primarily due to narrower margins in the Direct to Consumer and Wholesale channels.

109 

Nine months ended September 30, 2025 compared to the nine months ended September 30, 2024

Gain on originated residential mortgage loans, HFS, net increased $44.9 million, primarily driven by an increase in pull through adjusted lock volume in the Direct to Consumer and Wholesale channels, partially offset by lower gain on sale margins.

For the nine months ended September 30, 2025, funded loan origination volume was $44.5 billion, up from $41.3 billion in the nine months ended September 30, 2024. Of all funded origination volume, 26.4% was refinance, up from