Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 15

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 15
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Change in valuation inputs and assumptions(390,240)Balance at March 31, 2025$10,133,041 (A)Represents MSRs retained on the sale of originated residential mortgage loans. Includes $29.8 million of MSRs capitalized through co-issue with third-parties.(B)Based on the paydown of the underlying residential mortgage loans.The following table summarizes components of servicing revenue, net:Three Months EndedMarch 31,20252024Servicing fee revenue, net and interest income from MSRs and MSR financing receivables$526,810 $430,114 Ancillary and other fees43,991 39,777 Servicing fee revenue, net and fees570,801 469,891 Change in Fair Value Due To:Realization of cash flows(A)(146,891)(116,839)Change in valuation inputs and assumptions, net of realized gains (losses)(B)(395,025)201,014 Servicing Revenue, Net$28,885 $554,066 (A)Net of $1.2 million of realization of cash flows related to excess spread financing for the three months ended March 31, 2025. There was no excess spread financing during the three months ended March 31, 2024 (Note 12).(B)Net of $(4.8) million of change in valuation inputs and assumptions related to excess spread financing for the three months ended March 31, 2025. There was no excess spread financing during the three months ended March 31, 2024 (Note 12).The following table summarizes MSRs and MSR financing receivables by type as of March 31, 2025 and December 31, 2024:UPB of Underlying MortgagesWeighted Average Life (Years)(A)Carrying Value(B)March 31, 2025GSE$382,089,209 6.4$6,195,239 Non-Agency69,089,498 5.4830,163 Ginnie Mae(C)139,936,290 6.33,107,639 Total / Weighted Average$591,114,997 6.3$10,133,041 December 31, 2024GSE$383,014,320 6.5$6,413,199 Non-Agency70,022,636 5.4836,408 Ginnie Mae(C)137,