Company: RITM-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001556593-25-000007
Chunk: 11

Company: Rithm Capital Corp.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 1
Chunk 11
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 channels. Our loan offerings include residential mortgage loans conforming to the underwriting standards of the GSEs and Ginnie Mae, government-insured residential mortgage loans which are insured by the FHA, VA and USDA, RMBS and other securities that are issued by either public trusts or private label securitization entities (“Non-Agency” securities) and non-qualified residential mortgage (“Non-QM”) loans through our SMART Loan Series. Our Non-QM loan products provide a variety of options for highly qualified borrowers who fall outside the specific requirements of agency residential mortgage loans issued by the GSEs or Ginnie Mae (“Agency” securities). We additionally originate closed-end second lien home equity loans to our existing consumers to access the equity in their home without the need to pay off their existing first lien mortgage. 

We believe we combine operational excellence, modern proprietary technology, capital markets expertise, prudent risk management and a relentless focus on client service to deliver consistent high-quality service to our customers in both our Origination and Servicing businesses. In 2024, Newrez introduced its artificial intelligence (“AI”) initiative, called Rezi AI. Initial applications focus on efficiencies in servicing call centers, with a multi-year roadmap aimed at driving improvements across the platform. See “Item 1A. Risk Factors—Risks Related to our Business—The development and use of AI technology could lead to legal or regulatory actions, harm our reputation or have a significant negative impact on our business.”

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Our channels consist of:

•Direct to Consumer — Our Direct to Consumer channel originates loans directly to borrowers and is highly focused on meeting the financing needs of our existing servicing customers. When our existing customers choose us for their refinancing needs, we can not only benefit from the gain on sale on the newly originated loan but can also benefit from retaining the newly created MSR. Newrez’s customer retention strategy also seeks to maximize purchase “recapture” to benefit from the new origination when an existing borrower purchases a new home, allowing Newrez to retain the customer relationship and increase customer lifetime value.

•Retail/JV — Our Retail/JV channel employs loan officers who are located and involved in the communities they service and have relationships with realtors, home builders and other referral sources. These referral relationships are integral to our success in the purchase mortgage market. We also have joint venture partnerships with realtors, homebuilders and mortgage banks as well as traditional distributed retail business units. As of December 31, 2024, employee count for our Retail division, including joint venture partnerships