Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 128

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 128
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9 million for the three months ended March 31, 2025 compared to the three months ended December 31, 2024. The decrease is attributable to a decrease in pull through adjusted lock volume primarily driven by decreased production volume in the Correspondent channel. Refinance originations comprised 27.0% of funded loans for the three months ended March 31, 2025, lower than 28.9% for the three months ended December 31, 2024, due to lower refinance activity as interest rates remained elevated.

For the three months ended March 31, 2025, funded loan origination volume was $11.8 billion, down from $17.3 billion in the prior quarter. Gain on sale margin for the three months ended March 31, 2025 was 1.23%, 9 bps higher than 1.14% for the prior quarter. The higher gain on sale margin for the three months ended March 31, 2025 was primarily due to a lower Correspondent channel mix (refer to the tables above). 

The table below provides the mix of Newrez serviced assets portfolio between subserviced performing servicing (labeled as “Performing Servicing”) and subserviced non-performing, or special servicing (labeled as “Special Servicing”). Third-party servicing includes loan portfolios serviced on behalf of Rithm Capital or its subsidiaries and non-affiliated third parties for the periods presented.

UPB(in millions)March 31, 2025December 31, 2024QoQ ChangePerforming Servicing:MSR-owned assets$514,461 $510,418 $4,043 Residential whole loans2,379 3,626 (1,247)Total Performing Servicing516,840 514,044 2,796 Special Servicing:MSR-owned assets18,383 14,376 4,007 Residential whole loans7,177 7,068 109 Third-party244,158 242,931 1,227 Total Special Servicing269,718 264,375 5,343 Total Newrez Servicing786,558 778,419 8,139 Serviced by Third-Parties:MSR-owned assets58,298 65,421 (7,123)Total Servicing Portfolio$844,856 $843,840 $1,016 Agency Servicing:MSR-owned assets$