Company: RITM-PC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001556593-25-000024
Chunk: 37

Company: Rithm Capital Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 2
Chunk 37
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B of our MSRs, MSR financing receivables and third-party servicing:

UPB(dollars in millions)June 30,2025March 31,2025June 30,2024QoQ ChangeYoY ChangeGSE$453,226 $447,489 $442,328 $5,737 $10,898 Non-Agency264,607 254,347 229,872 10,260 34,735 Ginnie Mae146,355 143,020 137,884 3,335 8,471 Total$864,188 $844,856 $810,084 $19,332 $54,104 

The table below summarizes the total UPB of our servicing portfolio (owned MSRs and third-party servicing) by Performing Servicing, Special Servicing and serviced by third-parties:

UPB(dollars in millions)June 30,2025March 31,2025June 30,2024QoQ ChangeYoY ChangePerforming Servicing$526,083 $522,191 $509,553 $3,892 $16,530 Special Servicing281,239 264,367 231,999 16,872 49,240 Serviced by third-parties56,866 58,298 68,532 (1,432)(11,666)Total Servicing Portfolio$864,188 $844,856 $810,084 $19,332 $54,104 

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

Servicing revenue, net increased $182.4 million, primarily driven by (i) increased servicing revenue from a $19.3 billion increase in servicing UPB and (ii) a decrease in mark-to-market loss on our MSRs. The increase was partially offset by (i) a decrease in net gains on MSR economic hedges, including government and government-backed securities and to-be-announced forward contract positions (“TBAs”), and (ii) increased realization of cash flows driven by higher prepayment speeds.

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

Servicing revenue, net decreased $188.7 million, primarily driven by a change from mark-to-market gain to loss on our MSRs and increased realization