Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 156

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 156
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11,829$17,259$10,820$(5,430)$1,009

Three months ended March 31, 2025 compared to the three months ended December 31, 2024

Gain on originated residential mortgage loans, HFS, net decreased $41.9 million driven by a decrease in the pull through adjusted lock volume primarily driven by decreased production volume in the Correspondent channel. 

For the three months ended March 31, 2025, funded loan origination volume was $11.8 billion, down from $17.3 billion in the prior quarter. 27.0% of all funded origination volume was refinance, down from 28.9% in the prior quarter, as interest rates remained elevated. While funded loan origination volume decreased quarter over quarter, gain on sale margin for the three months ended March 31, 2025 was 1.23%, 9 bps higher than 1.14% for the prior quarter, primarily due to a lower Correspondent channel mix.

100

Three months ended March 31, 2025 compared to the three months ended March 31, 2024

Gain on originated residential mortgage loans, HFS, net increased $17.3 million driven by an increase in the pull through adjusted lock volume due to seasonal volume increases. 

For the three months ended March 31, 2025, funded loan origination volume was $11.8 billion, up from $10.8 billion in the prior year. 27.0% of all funded origination volume was refinance, up from 17.0% in the prior year, as interest rates moved lower year-over-year. Gain on sale margin for the three months ended March 31, 2025 was 1.23%, 3 bps higher than 1.20% for the prior year, primarily due to improvements in Correspondent margins.

Other Revenues

Three months ended March 31, 2025 compared to the three months ended December 31, 2024

Other revenues decreased $4.6 million due to lower property inspection and maintenance revenue at Guardian.

Three months ended March 31, 2025 compared to the three months ended March 31, 2024

Other revenues decreased $7.6 million due to lower property inspection and maintenance revenue at Guardian.

Asset Management Revenues

Three months ended March 31, 2025 compared to the three months ended December 31, 202