SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Summary of Segment Financial Data

The following tables summarize segment financial information, including the Corporate category explained above, which in total reconciles to the same data for Rithm Capital on a consolidated basis:

	Origination and Servicing		Investment Portfolio		Residential Transitional Lending		Asset Management		Corporate Category		Total
Three Months Ended March 31, 2025
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$	570,801	$	—	$	—	$	—	$	—	$	570,801
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(146,891))	(541,916)		—		—		—		—		(541,916)
Servicing revenue, net	28,885		—		—		—		—		28,885
Interest income	292,561		71,790		66,508		9,413		988		441,260
Gain on originated residential mortgage loans, held-for-sale, net	151,494		8,295		—		—		—		159,789
Other revenues	25,738		25,035		—		—		—		50,773
Asset management revenues	—		—		—		87,672		—		87,672
Total Revenues	498,678		105,120		66,508		97,085		988		768,379
Interest expense and warehouse line fees	292,948		59,636		31,701		14,089		20,680		419,054
Other segment expenses(A)	143,767		22,992		4,831		31,591		9,797		212,978
Compensation and benefits	172,702		1,162		14,391		65,330		17,882		271,467
Depreciation and amortization	7,659		7,954		1,567		7,384		4		24,568
Total Operating Expenses	617,076		91,744		52,490		118,394		48,363		928,067
Realized and unrealized gains (losses), net	208,538		3,094		2,043		(6,280)		—		207,395
Other income (loss), net	(118)		1,489		(141)		7,838		5		9,073
Total Other Income	208,420		4,583		1,902		1,558		5		216,468
Income (Loss) before Income Taxes	90,022		17,959		15,920		(19,751)		(47,370)		56,780
Income tax expense (benefit)	(56,694)		(8,512)		(1,090)		42,366		—		(23,930)
Net Income (Loss)	146,716		26,471		17,010		(62,117)		(47,370)		80,710
Noncontrolling interests in income of consolidated subsidiaries	354		728		—		4		—		1,086
Redeemable noncontrolling interests in income of consolidated subsidiaries	—		—		—		3		810		813
Net Income (Loss) Attributable to Rithm Capital Corp.	146,362		25,743		17,010		(62,124)		(48,180)		78,811
Change in redemption value of redeemable noncontrolling interests	—		—		—		—		15,611		15,611
Dividends on preferred stock	—		—		—		—		26,677		26,677
Net Income (Loss) Attributable to Common Stockholders	$	146,362	$	25,743	$	17,010	$	(62,124)	$	(90,468)	$	36,523

(A)The Origination and Servicing segment’s other segment expenses primarily include expenses related to loan origination and servicing, information technology, occupancy and legal and professional services. The Investment Portfolio segment’s other segment expenses primarily include expenses related to loan servicing and property and maintenance. The Residential Transitional Lending segment’s other segment expenses primarily include expenses related to loan origination, occupancy and information technology. The Asset Management segment’s other segment expenses primarily include expenses related to legal and professional services, information technology and occupancy.

	Origination and Servicing		Investment Portfolio		Residential Transitional Lending		Asset Management		Corporate Category		Total
March 31, 2025
Investments	$	22,756,176	$	3,502,073	$	2,335,218	$	—	$	—	$	28,593,467
Cash and cash equivalents	1,000,135		24,149		47,107		130,300		292,143		1,493,834
Restricted cash	174,176		52,068		34,673		19,971		230,810		511,698
Other assets	6,166,441		2,271,563		204,183		977,086		4,938		9,624,211
Goodwill	29,468		—		55,731		48,633		—		133,832
Assets of consolidated CFEs(A)	—		2,718,096		990,168		1,264,537		—		4,972,801
Total Assets	$	30,126,396	$	8,567,949	$	3,667,080	$	2,440,527	$	527,891	$	45,329,843
Debt	$	20,352,469	$	4,252,015	$	1,934,141	$	451,192	$	1,034,959	$	28,024,776
Other liabilities	4,248,496		419,235		26,469		(12,881)		251,701		4,933,020
Liabilities of consolidated CFEs(A)	—		2,310,483		860,843		1,059,467		—		4,230,793
Total Liabilities	24,600,965		6,981,733		2,821,453		1,497,778		1,286,660		37,188,589
Redeemable Noncontrolling Interests of Consolidated Subsidiaries	—		—		—		25,604		230,810		256,414
Total Stockholders’ Equity	5,525,431		1,586,216		845,627		917,145		(989,579)		7,884,840
Noncontrolling interests in equity of consolidated subsidiaries	9,100		58,688		—		40,928		—		108,716
Stockholders’ Equity in Rithm Capital Corp.	$	5,516,331	$	1,527,528	$	845,627	$	876,217	$	(989,579)	$	7,776,124
Investments in Equity Method Investees	$	25,179	$	294,756	$	14,407	$	205,573	$	—	$	539,915
December 31, 2024
Total Assets	$	32,418,256	$	7,463,738	$	3,439,075	$	2,508,130	$	219,758	$	46,048,957

(A)Includes assets and liabilities of certain consolidated VIEs that meet the definition of CFEs. These assets can only be used to settle obligations and liabilities of such VIEs for which creditors do not have recourse to Rithm Capital Corp.

	Origination and Servicing		Investment Portfolio		Residential Transitional Lending		Asset Management		Corporate Category		Total
Three Months Ended March 31, 2024
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$	469,891	$	—	$	—	$	—	$	—	$	469,891
Change in fair value of MSRs and MSR financing receivables (includes realization of cash flows of $(116,839))	84,175		—		—		—		—		84,175
Servicing revenue, net	554,066		—		—		—		—		554,066
Interest income	275,205		89,959		64,720		4,909		2		434,795
Gain (loss) on originated residential mortgage loans, held-for-sale, net	145,869		(3,411)		—		—		—		142,458
Other revenues	32,379		25,969		—		—		—		58,348
Asset management revenues	—		—		—		70,951		—		70,951
Total Revenues	1,007,519		112,517		64,720		75,860		2		1,260,618
Interest expense and warehouse line fees	288,856		70,392		32,414		7,621		10,544		409,827
Other segment expenses(A)	114,506		21,541		3,187		23,922		9,944		173,100
Compensation and benefits	157,981		568		11,303		63,112		2,814		235,778
Depreciation and amortization	14,630		7,742		1,567		8,013		—		31,952
Total Operating Expenses	575,973		100,243		48,471		102,668		23,302		850,657
Realized and unrealized gains (losses), net	(65,257)		2,687		24,566		(6,842)		—		(44,846)
Other income, net	25		11,479		274		3,969		37		15,784
Total Other Income (Loss)	(65,232)		14,166		24,840		(2,873)		37		(29,062)
Income (Loss) before Income Taxes	366,314		26,440		41,089		(29,681)		(23,263)		380,899
Income tax expense (benefit)	96,201		1,248		(333)		(3,704)		—		93,412
Net Income (Loss)	270,113		25,192		41,422		(25,977)		(23,263)		287,487
Noncontrolling interests in income of consolidated subsidiaries	55		2,037		—		1,360		—		3,452
Net Income (Loss) Attributable to Rithm Capital Corp.	270,058		23,155		41,422		(27,337)		(23,263)		284,035
Dividends on preferred stock	—		—		—		—		22,395		22,395
Net Income (Loss) Attributable to Common Stockholders	$	270,058	$	23,155	$	41,422	$	(27,337)	$	(45,658)	$	261,640

(A)The Origination and Servicing segment’s other segment expenses primarily include expenses related to loan origination and servicing, information technology, occupancy and legal and professional services. The Investment Portfolio segment’s other segment expenses primarily include expenses related to loan servicing and property and maintenance. The Residential Transitional Lending segment’s other segment expenses primarily include expenses related to loan origination, occupancy and information technology. The Asset Management segment’s other segment expenses primarily include expenses related to legal and professional services, information technology and occupancy.