Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 345

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 2
Chunk 345
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 Lower interest rates also decrease our financing costs.

97

Summary of Results of Operations

The following table summarizes the changes in our results of operations for the three months ended March 31, 2025 compared to the three months ended December 31, 2024 and the three months ended March 31, 2025 compared to the three months ended March 31, 2024. Our results of operations are not necessarily indicative of our future performance (dollars in thousands).

Three Months EndedMarch 31, 2025December 31, 2024March 31, 2024QoQ ChangeYoY ChangeRevenuesServicing fee revenue, net and interest income from MSRs and MSR financing receivables$570,801 $531,279 $469,891 $39,522 $100,910 Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(146,891), $(180,480) and $(116,839), respectively)(541,916)563,484 84,175 (1,105,400)(626,091)Servicing revenue, net28,885 1,094,763 554,066 (1,065,878)(525,181)Interest income441,260 485,610 434,795 (44,350)6,465 Gain on originated residential mortgage loans, HFS, net159,789 201,641 142,458 (41,852)17,331 Other revenues50,773 55,412 58,348 (4,639)(7,575)Asset management revenues87,672 258,871 70,951 (171,199)16,721 768,379 2,096,297 1,260,618 (1,327,918)(492,239)ExpensesInterest expense and warehouse line fees419,054 449,386 409,827 (30,332)9,227 General and administrative237,546 233,629 205,052 3,917 32,494 Compensation and benefits271,467 362,869 235,778 (91,402)35,689 928,067 1,045,884 850,657 (117,817)77,410 Other Income (Loss)Realized and unrealized gains (losses), net207,395