Company: RITM-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001556593-25-000007
Chunk: 191

Company: Rithm Capital Corp.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 191
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Summary of Results of Operations

The following table summarizes the changes in our results of operations for the year ended December 31, 2024 compared to the year ended December 31, 2023 (dollars in thousands). Our results of operations are not necessarily indicative of our future performance.

Year Ended December 31,Increase (Decrease)20242023Amount%RevenuesServicing fee revenue, net and interest income from MSRs and MSR financing receivables$1,993,319 $1,859,357 $133,962 7.2 %Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(602,241) and $(518,978), respectively)(167,574)(565,684)398,110 70.4 %Servicing revenue, net1,825,745 1,293,673 532,072 41.1 %Interest income1,949,790 1,616,189 333,601 20.6 %Gain on originated residential mortgage loans, HFS, net682,535 533,477 149,058 27.9 %Other revenues227,472 236,167 (8,695)(3.7)%Asset management revenues520,294 82,681 437,613 529.3 %5,205,836 3,762,187 1,443,649 38.4 %ExpensesInterest expense and warehouse line fees1,835,325 1,401,327 433,998 31.0 %General and administrative868,484 761,102 107,382 14.1 %Compensation and benefits1,134,768 787,092 347,676 44.2 %3,838,577 2,949,521 889,056 30.1 %Other Income (Loss)Realized and unrealized losses, net(215,705)(19,456)(196,249)(1008.7)%Other income (loss), net57,255 (40,377)97,632 241.8 %(158,450)(59,833)(98,617)(164.8)%Income before Income Taxes1,208,809 752,833 455,976 60.6 %Income tax expense267,317 122,159 145,158 118