Company: RITM-PC
Filing Date: 2025-02-18
Form Type: 10-K
Source: 0001556593-25-000007
Chunk: 196

Company: Rithm Capital Corp.
Filing Date: 2025-02-18
Form: 10-K
Item: Item 7
Chunk 196
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484 $761,102 $107,382 14.1 %

General and administrative expenses increased $107.4 million year over year, primarily attributable to (i) increased loan servicing expenses driven by portfolio growth contributed by the Computershare Acquisition, (ii) increased property and maintenance expenses at our SFR business and Guardian, (iii) increased amortization expense on our intangible assets and (iv) increased information technology costs driven by the Sculptor Acquisition and the Computershare Acquisition. The increase was partially offset by a decrease in subservicing expense as a result of servicing transfer of certain owned MSRs from third parties to Newrez during 2023.

Compensation and Benefits

Compensation and benefits increased $347.7 million year over year, primarily due to the addition of Sculptor at the end of fourth quarter of 2023 and higher production and servicing UPB in our Origination and Servicing business.

Other Income (Loss)

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

Year Ended December 31,Increase (Decrease)(dollars in thousands)20242023Amount%Real estate and other securities$(81,064)$39,362 $(120,426)(305.9)%Residential mortgage loans and REO34,065 19,861 14,204 71.5 %Derivative and hedging instruments(206,150)(54,342)(151,808)279.4 %Notes and bonds payable(7,407)(12,843)5,436 (42.3)%Consolidated CFEs(A)97,340 17,780 79,560 447.5 %Other(B)(52,489)(29,274)(23,215)79.3 %Realized and unrealized losses, net(215,705)(19,456)(196,249)1008.7 %Other income (loss), net57,255 (40,377)97,632 (241.8)%Total Other Loss$(158,450)$(59,833)$(98,617)164.8 %

(A)Includes change in the fair value of the consolidated CFEs’ financial assets and liabilities and related interest and other income.

(B)Includes excess MSRs, servicer advance investments, consumer loans, residential transition loans and other.

96

Total other loss was $158.5 million in 2024 compared to $59.