Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 158

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 158
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Information technology29,691 31,617 29,388 (1,926)303 Other43,743 48,885 33,559 (5,142)10,184 Total General and Administrative Expenses$237,546 $233,629 $205,052 $3,917 $32,494 

Three months ended March 31, 2025 compared to the three months ended December 31, 2024

General and administrative expenses increased $3.9 million quarter over quarter, primarily attributable to increased loan servicing expenses driven by portfolio growth, boarding fees driven by the servicing transfer of certain MSRs to in-house servicing during the first quarter of 2025, and prospective classification of certain servicing costs from servicing revenue, net to loan servicing expense within general and administrative. The increase was partially offset by decreased legal and professional expenses related to prior quarter deal activity. 

Three months ended March 31, 2025 compared to the three months ended March 31, 2024

General and administrative expenses increased $32.5 million year over year, primarily attributable to increased loan servicing expenses driven by portfolio growth, boarding fees driven by the servicing transfer of certain MSRs to in-house servicing during the first quarter of 2025, and prospective classification of certain servicing costs from servicing revenue, net to loan servicing expense within general and administrative. The increase was partially offset by decreased amortization on our intangible assets and decreased property and maintenance expense at Guardian during the first quarter of 2025.

Compensation and Benefits

Three months ended March 31, 2025 compared to the three months ended December 31, 2024

Compensation and benefits decreased $91.4 million, primarily due to the timing of Asset Management’s discretionary bonus accruals in the fourth quarter linked to fund performance.

Three months ended March 31, 2025 compared to the three months ended March 31, 2024

Compensation and benefits increased $35.7 million, primarily due to increased loan servicing compensation at the operating company related to the Computershare acquisition in the second quarter of 2024.

102

Other Income (Loss)

The following table summarizes the components of other income (loss):

Three Months Ended(dollars in thousands)March 31, 2025December 31, 2024March 31, 2024QoQ ChangeYoY ChangeReal estate and other securities$114,526 $(254,690)$(102