Company: RITM-PC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001556593-25-000024
Chunk: 392

Company: Rithm Capital Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 8
Chunk 392
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.55 %0.48 %0.46 %Total Gain on Originated Residential Mortgage Loans, as a Percentage of Pull Through Adjusted Lock Volume1.04 %1.23 %1.12 %1.09 %

The following table summarizes funded loan production by channel:

UPBThree Months EndedSix Months Ended June 30,(dollars in millions)June 30,2025March 31, 202520252024QoQ ChangeYoY ChangeProduction by Channel:Direct to Consumer $1,602$1,170$2,772$1,395$432 $1,377 Retail / Joint Venture7985801,3782,363218 (985)Wholesale2,5821,5374,1192,8431,045 1,276 Correspondent11,3168,54219,85818,8392,774 1,019 Total Production by Channel$16,298$11,829$28,127$25,440$4,469$2,687

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

Gain on originated residential mortgage loans, HFS, net increased $9.9 million, primarily driven by an increase in pull through adjusted lock volume across channels. 

For the three months ended June 30, 2025, funded loan origination volume was $16.3 billion, up from $11.8 billion in the three months ended March 31, 2025. Of all funded origination volume, 27.2% was refinance, relatively flat compared to 27.0% in the three months ended March 31, 2025, as interest rates remained elevated. While funded loan origination volume increased quarter over quarter, gain on sale margin for the three months ended June 30, 2025 was 1.04%, 19 bps lower than 1.23% for the three months ended March 31, 2025, primarily due to lower margins in the Correspondent channel.

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

Gain on originated residential mortgage loans, HFS, net increased $33.3 million, primarily driven by an increase in pull through adjusted lock volume in the Direct to Consumer and Correspondent channels, partially offset by reduced volume in Retail/Joint