Company: RITM-PC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001556593-25-000024
Chunk: 361

Company: Rithm Capital Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 8
Chunk 361
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 of unaffiliated investors. We are highly experienced in loan servicing, including loan modifications, and seek to help borrowers avoid foreclosure. As of June 30, 2025, the performing loan servicing division serviced $526.1 billion UPB of loans, our special servicing division serviced $281.2 billion UPB of loans and third parties serviced $56.9 billion UPB of loans, for a total servicing portfolio of $864.2 billion UPB, an increase of $19.3 billion from March 31, 2025. The increase was primarily attributable to new client acquisition and loan production, partially offset by scheduled and voluntary prepayment loan activity.

We generate revenue through servicing and sales of residential mortgage loans, including, but not limited to, gain on residential loans originated and sold and the value of MSRs retained on transfer of the loans. Profit margins per loan vary by channel, with Correspondent typically being the lowest and Direct to Consumer being the highest. We sell conforming loans to the GSEs and Ginnie Mae and securitize Non-QM residential loans. We utilize warehouse financing to fund loans at origination through the sale date.

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The tables below provide selected operating statistics for our Origination and Servicing segment:

UPBThree Months EndedSix Months Ended June 30,(in millions)June 30, 2025% of TotalMarch 31, 2025% of Total2025% of Total2024% of TotalQoQ ChangeYoY ChangeProduction by Channel:Direct to Consumer$1,60210%$1,17010%$2,77210%$1,3955%$432 $1,377 Retail / Joint Venture7985%5805%1,3785%2,3639%218 (985)Wholesale2,58216%1,53713%4,11915%2,84311%1,045 1,276 Correspondent11,31669%8,54272%19,85870%18,83975%2,774 1,019 Total Production by Channel$16,298100%$11,829100%$28,127100%$25,440100%$4,469 $2,687 Production by Product:Agency$6,94143%$5,50247%$12,44344%$13,52154%$1,439 $(1,078)Government8,235