Company: RITM-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001556593-25-000007
Chunk: 193

Company: Rithm Capital Corp.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 193
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as of December 31,Increase (Decrease)(dollars in millions)20242023Amount%GSE$454,430 $360,340 $94,090 26.1 %Non-Agency246,313 151,250 95,063 62.9 %Ginnie Mae143,097 127,864 15,233 11.9 %Total$843,840 $639,454 $204,386 32.0 %

The table below summarizes the total UPB of our servicing portfolio (owned MSRs and third-party servicing) by Performing Servicing, Special Servicing and serviced by third-parties:

Unpaid Principal Balanceas of December 31,Increase (Decrease)(dollars in millions)20242023Amount%Performing Servicing$514,044 $445,838 $68,206 15.3 %Special Servicing264,375 122,155 142,220 116.4 %Serviced by third-parties65,421 71,461 (6,040)(8.5)%Total Servicing Portfolio$843,840 $639,454 $204,386 32.0 %

Servicing revenue, net increased $0.5 billion, primarily driven by a $0.4 billion increase in fair value of our MSRs portfolio and increased servicing fee revenue due to a larger servicing portfolio during the year ended December 31, 2024. The increase in fair value during 2024 was primarily driven by an increase in the forward interest curve in the fourth quarter, resulting in a $434.7 million, or approximately 4.6%, positive mark on our over $10.3 billion MSRs value. The increase was partially offset by an $83.3 million increase in realization of cash flows as a result of faster prepayments and a larger servicing portfolio.

As of December 31, 2024, the performing loan servicing division serviced $514.0 billion UPB of loans, the special servicing division serviced $264.4 billion UPB of loans, including $242.9 billion UPB of third-party servicing, and serviced by third-parties was $65.4 billion UPB of loans, for a total servicing portfolio of $843.8 billion UPB, representing a 32.0% increase 

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from December 31, 2023, contributing to the increase in servicing fee revenue.