Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 384

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 384
---
 equity loans to our existing consumers to access the equity in their home without the need to pay off their existing first lien mortgage. As of September 30, 2025, Newrez serviced approximately 3.8 million customers. The aggregated unpaid principal balance (“UPB”) serviced by Newrez was approximately $822.1 billion, $807.3 billion and $754.7 billion as of September 30, 2025, June 30, 2025 and September 30, 2024, respectively. Our origination business funded $16.4 billion and $16.3 billion of mortgages for the three months ended September 30, 2025 and June 30, 2025, respectively, and $44.5 billion and $41.3 billion for the nine months ended September 30, 2025 and 2024, respectively.

90 

We generally service all of the loans that we originate, which provides us connectivity to our borrowers throughout the lifecycle of their loans. Our servicing business operates through our performing and special servicing divisions. The performing loan servicing division services performing Agency and government-insured loans. Our special servicing division services delinquent government-insured, Agency and Non-Agency loans on behalf of the owners of the underlying mortgage loans. The special servicing division also includes third-party serviced loans on behalf of unaffiliated investors. We are highly experienced in loan servicing, including loan modifications, and seek to help borrowers avoid foreclosure. As of September 30, 2025, the performing loan servicing division serviced $530.7 billion UPB of loans, our special servicing division serviced $291.4 billion UPB of loans and third parties serviced $55.5 billion UPB of loans, for a total servicing portfolio of $877.5 billion UPB, an increase of $13.3 billion from June 30, 2025. The increase was primarily attributable to new client acquisition and loan production, partially offset by scheduled and voluntary prepayment loan activity.

We generate revenue through servicing and sales of residential mortgage loans, including, but not limited to, gain on residential loans originated and sold and the value of MSRs retained on transfer of the loans. Profit margins per loan vary by channel, with Correspondent typically being the lowest and Direct to Consumer being the highest. We sell conforming loans to the GSEs and Ginnie Mae and securitize Non-QM residential loans. We utilize warehouse financing to fund loans at origination through the sale date.

91 

The tables