Company: RITM-PC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001556593-25-000024
Chunk: 394

Company: Rithm Capital Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 8
Chunk 394
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 fees decreased $38.8 million, primarily driven by a decrease in average SOFR of approximately 5.4% to 4.4% year-over-year, reducing variable financing costs on servicing related assets and securities. The decrease was partially offset by higher average outstanding borrowing on these assets.

109

General and Administrative

General and administrative expenses consist of the following:

Three Months EndedSix Months Ended June 30,(dollars in thousands)June 30,2025March 31,202520252024QoQ ChangeYoY ChangeLegal and professional$24,394 $24,638 $49,032 $48,430 $(244)$602 Loan origination17,161 14,677 31,838 32,933 2,484 (1,095)Occupancy16,348 14,454 30,802 31,197 1,894 (395)Subservicing12,342 16,756 29,098 37,118 (4,414)(8,020)Loan servicing40,737 41,518 82,255 9,093 (781)73,162 Property and maintenance28,921 27,636 56,557 62,219 1,285 (5,662)Depreciation and amortization23,794 24,568 48,362 64,809 (774)(16,447)Information technology31,239 31,308 62,547 63,332 (69)(785)Other44,639 41,991 86,630 70,395 2,648 16,235 Total General and Administrative Expenses$239,575 $237,546 $477,121 $419,526 $2,029 $57,595 

Three months ended June 30, 2025 compared to the three months ended March 31, 2025

General and administrative expenses were comparable quarter-over-quarter given a similar level of deal activity and no significant changes to loan origination and servicing portfolio. Loan origination and occupancy expense increases were driven by higher volume, partially offset by a decrease in subservicing expense as a result of servicing transfer of certain MSRs to in-house servicing towards the end of first quarter of 2025.

Six months ended June 30, 2025 compared to the six months ended June 30, 2024

General and administrative