Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 414

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 414
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uation and Assumptions$(219,555)$(8,807)$(623,387)$(309,297)$(210,748)$(314,090)

The table below summarizes the UPB of our MSRs, MSR financing receivables and third-party servicing:

UPB(dollars in millions)September 30,2025June 30,2025September 30,2024QoQ ChangeYoY ChangeGSE$451,344 $453,226 $446,810 $(1,882)$4,534 Non-Agency275,804 264,607 235,359 11,197 40,445 Ginnie Mae150,376 146,355 139,500 4,021 10,876 Total$877,524 $864,188 $821,669 $13,336 $55,855 

The table below summarizes the total UPB of our servicing portfolio (owned MSRs and third-party servicing) by Performing Servicing, Special Servicing and serviced by third-parties:

UPB(dollars in millions)September 30,2025June 30,2025September 30,2024QoQ ChangeYoY ChangePerforming Servicing$530,709 $526,083 $511,396 $4,626 $19,313 Special Servicing291,354 281,239 243,260 10,115 48,094 Serviced by third-parties55,461 56,866 67,013 (1,405)(11,552)Total Servicing Portfolio$877,524 $864,188 $821,669 $13,336 $55,855 

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

Servicing revenue, net decreased $104.9 million, primarily driven by a decrease in the value of our MSRs driven by changes in interest rates and higher prepayment speeds, partially offset by a decrease in discount rates. The unrealized loss on our MSRs was partially offset by net gains on MSR economic hedges.

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

Servicing revenue, net increased $0.5 million, primarily driven by increased servicing revenue as a result of a $55.9 billion increase in servicing UP