Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 411

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 411
---
 held in our investment portfolio. Asset management fees are directly related to growth in AUM and investment performance of our funds. Decline in investment performance may slow our AUM growth and increase the potential for redemptions from our funds.

During the three and nine months ended September 30, 2025, interest rates remained elevated, although decreased in comparison to the three months ended June 30, 2025 and to the nine months ended September 30, 2024, respectively. Changes in interest rates can inversely impact a borrower’s ability or willingness to enter into mortgage transactions, including residential, business purpose and commercial loans. Lower interest rates also decrease our financing costs.

106 

Summary of Results of Operations

The following table summarizes the changes in our results of operations for the three months ended September 30, 2025 compared to the three months ended June 30, 2025 and the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. Our results of operations are not necessarily indicative of our future performance (dollars in thousands).

Three Months EndedNine Months Ended September 30,September 30,2025June 30,202520252024QoQ ChangeYoY ChangeRevenuesServicing fee revenue, net and interest income from MSRs and MSR financing receivables$579,281 $574,817 $1,724,899 $1,462,040 $4,464 $262,859 Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(189,881), $(176,680), $(513,452) and $(421,761), respectively)(264,351)(155,005)(752,734)(490,377)(109,346)(262,357)Servicing revenue, net314,930 419,812 972,165 971,663 (104,882)502 Interest income453,786 478,455 1,373,501 1,464,180 (24,669)(90,679)Gain on originated residential mortgage loans, HFS, net196,308 169,698 525,795 480,894 26,610 44,901 Other revenues55,628 54,066 160,467 172,060 1,562 (11,593)Asset management revenues84,871 95