Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 10

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 2
Chunk 10
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 and Note 7 to our consolidated financial statements).

(D)Excludes MSR revenue on recaptured loan volume reported in the servicing segment.

Total gain on originated residential mortgage loans, HFS, net increased $3.3 million to $176.0 million for the three months ended September 30, 2025 compared to the three months ended June 30, 2025. The increase is attributable to an increase in pull through adjusted lock volume across channels partially offset by lower gain on sale margins. Purchase originations comprised 74.8% of funded loans for the three months ended September 30, 2025, increased compared to 72.8% for the three months ended June 30, 2025, as home sales trend higher.

Total gain on originated residential mortgage loans, HFS, net increased $29.4 million to $501.7 million for the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The increase is attributable to an increase in pull through adjusted lock volume in the Direct to Consumer and Wholesale channels, partially offset by lower gain on sale margins. Refinance originations comprised 26.4% of funded loans for the nine months ended September 30, 2025, higher than 16.4% for the nine months ended September 30, 2024, as interest rates moved lower year-over-year.

92 

For the three months ended September 30, 2025, funded loan origination volume was $16.4 billion, up from $16.3 billion in the three months ended June 30, 2025. Gain on sale margin for the three months ended September 30, 2025 was 1.00%, 4 bps lower than 1.04% for the three months ended June 30, 2025. The lower gain on sale margin for the three months ended September 30, 2025 was primarily due to narrower margins in the Direct to Consumer and Wholesale channels (refer to the tables above). 

For the nine months ended September 30, 2025, funded loan origination volume was $44.5 billion, up from $41.3 billion in the nine months ended September 30, 2024. Gain on sale margin for the nine months ended September 30, 2025 was 1.07%, 3 bps lower than 1.10% for the nine months ended September 30, 2024