Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 418

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 418
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-year, and a lower average balances of debt associated with government and government-backed securities investments. The decrease was partially offset by higher average outstanding borrowing on servicing related assets year-over-year.

110 

General and Administrative

General and administrative expenses consist of the following:

Three Months EndedNine Months Ended September 30,(dollars in thousands)September 30,2025June 30,202520252024QoQ ChangeYoY ChangeLegal and professional$28,642 $24,394 $77,674 $65,951 $4,248 $11,723 Loan origination15,744 17,161 47,582 52,659 (1,417)(5,077)Occupancy15,632 16,348 46,434 47,165 (716)(731)Subservicing11,893 12,342 40,991 54,023 (449)(13,032)Loan servicing38,154 40,737 120,409 12,041 (2,583)108,368 Property and maintenance29,768 28,921 86,325 93,936 847 (7,611)Depreciation and amortization23,130 23,794 71,492 99,624 (664)(28,132)Information technology29,527 31,239 92,074 100,127 (1,712)(8,053)Other44,602 44,639 131,232 109,329 (37)21,903 Total General and Administrative Expenses$237,092 $239,575 $714,213 $634,855 $(2,483)$79,358 

Three months ended September 30, 2025 compared to the three months ended June 30, 2025

Overall, general and administrative expenses were comparable quarter-over-quarter. Higher transaction-related legal and professional fees, driven by activity related to the Paramount and Crestline transactions, were partially offset by lower loan servicing costs.

Nine months ended September 30, 2025 compared to the nine months ended September 30, 2024

General and administrative expenses increased $79.4 million year-over-year, primarily attributable to prospective classification of certain servicing costs from servicing revenue, net to loan servicing expense within general and administrative, and an increase in asset management placement fees and fees incurred on securitizations driven by transaction activity.