SEGMENT REPORTING (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2025
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$	574,817	$	—	$	—	$	—	$	—	$	574,817
Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(176,680))	(155,005)		—		—		—		—		(155,005)
Servicing revenue, net	419,812		—		—		—		—		419,812
Interest income	309,940		82,143		75,405		7,841		3,126		478,455
Gain on originated residential mortgage loans, held-for-sale, net	168,438		1,260		—		—		—		169,698
Other revenues	27,439		26,627		—		—		—		54,066
Asset management revenues	—		—		—		95,008		—		95,008
Total Revenues	925,629		110,030		75,405		102,849		3,126		1,217,039
Interest expense and warehouse line fees	283,616		69,904		33,620		8,710		22,018		417,868
Other segment expenses(A)	146,989		22,162		5,234		26,487		14,909		215,781
Compensation and benefits	190,169		1,004		15,308		67,401		20,525		294,407
Depreciation and amortization	6,281		7,849		2,289		7,348		27		23,794
Total Operating Expenses	627,055		100,919		56,451		109,946		57,479		951,850
Realized and unrealized gains (losses), net	—		16,177		6,809		416		(661)		22,741
Other income (loss), net	6,435		8,841		(713)		5,124		(1,209)		18,478
Total Other Income (Loss)	6,435		25,018		6,096		5,540		(1,870)		41,219
Income (Loss) before Income Taxes	305,009		34,129		25,050		(1,557)		(56,223)		306,408
Income tax expense (benefit)	(11,647)		(1,507)		330		1,226		—		(11,598)
Net Income (Loss)	316,656		35,636		24,720		(2,783)		(56,223)		318,006
Noncontrolling interests in income of consolidated subsidiaries	981		1,533		—		655		—		3,169
Redeemable noncontrolling interests in income of consolidated subsidiaries	—		—		—		561		2,559		3,120
Net Income (Loss) Attributable to Rithm Capital Corp.	315,675		34,103		24,720		(3,999)		(58,782)		311,717
Dividends on preferred stock	—		—		—		—		27,818		27,818
Net Income (Loss) Attributable to Common Stockholders	$	315,675	$	34,103	$	24,720	$	(3,999)	$	(86,600)	$	283,899

(A)The Origination and Servicing segment’s other segment expenses primarily include expenses related to loan origination and servicing, information technology and property and maintenance. The Investment Portfolio segment’s other segment expenses primarily include expenses related to legal and professional services, loan servicing and property and maintenance. The Residential Transitional Lending segment’s other segment expenses primarily include expenses related to loan origination. 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
Six Months Ended June 30, 2025
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$	1,145,618	$	—	$	—	$	—	$	—	$	1,145,618
Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(323,571))	(488,383)		—		—		—		—		(488,383)
Servicing revenue, net	657,235		—		—		—		—		657,235
Interest income	602,501		153,933		141,913		17,254		4,114		919,715
Gain on originated residential mortgage loans, held-for-sale, net	319,932		9,555		—		—		—		329,487
Other revenues	53,177		51,662		—		—		—		104,839
Asset management revenues	—		—		—		182,680		—		182,680
Total Revenues	1,632,845		215,150		141,913		199,934		4,114		2,193,956
Interest expense and warehouse line fees	576,564		129,540		65,321		22,799		42,698		836,922
Other segment expenses(A)	290,756		45,154		10,065		58,078		24,706		428,759
Compensation and benefits	362,871		2,166		29,699		132,731		38,407		565,874
Depreciation and amortization	13,940		15,803		3,856		14,732		31		48,362
Total Operating Expenses	1,244,131		192,663		108,941		228,340		105,842		1,879,917
Realized and unrealized gains (losses), net	—		19,271		8,852		(5,864)		(661)		21,598
Other income (loss), net	6,317		10,330		(854)		12,962		(1,204)		27,551
Total Other Income (Loss)	6,317		29,601		7,998		7,098		(1,865)		49,149
Income (Loss) before Income Taxes	395,031		52,088		40,970		(21,308)		(103,593)		363,188
Income tax expense (benefit)	(68,341)		(10,019)		(760)		43,592		—		(35,528)
Net Income (Loss)	463,372		62,107		41,730		(64,900)		(103,593)		398,716
Noncontrolling interests in income of consolidated subsidiaries	1,335		2,261		—		659		—		4,255
Redeemable noncontrolling interests in income of consolidated subsidiaries	—		—		—		564		3,369		3,933
Net Income (Loss) Attributable to Rithm Capital Corp.	462,037		59,846		41,730		(66,123)		(106,962)		390,528
Change in redemption value of redeemable noncontrolling interests	—		—		—		—		15,611		15,611
Dividends on preferred stock	—		—		—		—		54,495		54,495
Net Income (Loss) Attributable to Common Stockholders	$	462,037	$	59,846	$	41,730	$	(66,123)	$	(177,068)	$	320,422

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

	Origination and Servicing		Investment Portfolio		Residential Transitional Lending		Asset Management		Corporate Category		Total
June 30, 2025
Investments	$	21,460,303	$	3,766,765	$	2,497,764	$	—	$	—	$	27,724,832
Cash and cash equivalents	1,044,115		24,943		67,078		111,218		353,594		1,600,948
Restricted cash	179,882		43,755		21,025		7,370		233,370		485,402
Other assets	5,895,066		2,376,924		156,817		1,073,222		3,308		9,505,337
Goodwill	29,468		—		55,731		48,633		—		133,832
Assets of consolidated CFEs(A)	—		2,645,929		989,398		1,230,275		—		4,865,602
Total Assets	$	28,608,834	$	8,858,316	$	3,787,813	$	2,470,718	$	590,272	$	44,315,953
Debt	$	18,685,960	$	4,589,739	$	2,073,586	$	471,585	$	1,256,262	$	27,077,132
Other liabilities	4,090,923		417,466		29,487		6,492		242,585		4,786,953
Liabilities of consolidated CFEs(A)	—		2,240,815		863,994		1,026,887		—		4,131,696
Total Liabilities	22,776,883		7,248,020		2,967,067		1,504,964		1,498,847		35,995,781
Redeemable Noncontrolling Interests of Consolidated Subsidiaries	—		—		—		27,594		233,369		260,963
Total Stockholders’ Equity	5,831,951		1,610,296		820,746		938,160		(1,141,944)		8,059,209
Noncontrolling interests in equity of consolidated subsidiaries	9,443		58,630		—		42,753		—		110,826
Stockholders’ Equity in Rithm Capital Corp.	$	5,822,508	$	1,551,666	$	820,746	$	895,407	$	(1,141,944)	$	7,948,383
Investments in Equity Method Investees	$	24,712	$	308,288	$	14,700	$	207,483	$	—	$	555,183
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 June 30, 2024
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$	498,978	$	—	$	—	$	—	$	—	$	498,978
Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(165,138))	(141,884)		—		—		—		—		(141,884)
Servicing revenue, net	357,094		—		—		—		—		357,094
Interest income	343,335		70,772		59,573		4,971		2		478,653
Gain (loss) on originated residential mortgage loans, held-for-sale, net	155,771		(2,030)		—		—		—		153,741
Other revenues	29,956		26,544		—		—		—		56,500
Asset management revenues	—		—		—		109,433		—		109,433
Total Revenues	886,156		95,286		59,573		114,404		2		1,155,421
Interest expense and warehouse line fees	344,729		62,079		29,106		8,333		21,697		465,944
Other segment expenses(A)	117,703		17,569		4,739		23,991		17,615		181,617
Compensation and benefits	187,987		344		9,113		51,982		21,022		270,448
Depreciation and amortization	16,536		7,305		1,567		7,449		—		32,857
Total Operating Expenses	666,955		87,297		44,525		91,755		60,334		950,866
Realized and unrealized gains, net	—		32,011		18,739		8,467		—		59,217
Other income (loss), net	27,336		(1,502)		(2,116)		2,675		—		26,393
Total Other Income	27,336		30,509		16,623		11,142		—		85,610
Income (Loss) before Income Taxes	246,537		38,498		31,671		33,791		(60,332)		290,165
Income tax expense	38,960		2,909		1,952		7,827		—		51,648
Net Income (Loss)	207,577		35,589		29,719		25,964		(60,332)		238,517
Noncontrolling interests in income of consolidated subsidiaries	1,016		1,110		—		835		—		2,961
Net Income (Loss) Attributable to Rithm Capital Corp.	206,561		34,479		29,719		25,129		(60,332)		235,556
Dividends on preferred stock	—		—		—		—		22,395		22,395
Net Income (Loss) Attributable to Common Stockholders	$	206,561	$	34,479	$	29,719	$	25,129	$	(82,727)	$	213,161

(A)The Origination and Servicing segment’s other segment expenses primarily include expenses related to loan origination and servicing, information technology and property and maintenance. The Investment Portfolio segment’s other segment expenses primarily include expenses related to legal and professional services, loan servicing and property and maintenance. The Residential Transitional Lending segment’s other segment expenses primarily include expenses related to loan origination. 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
Six Months Ended June 30, 2024
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$	968,869	$	—	$	—	$	—	$	—	$	968,869
Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(281,977))	(122,966)		—		—		—		—		(122,966)
Servicing revenue, net	845,903		—		—		—		—		845,903
Interest income	618,540		160,731		124,293		9,880		4		913,448
Gain on originated residential mortgage loans, held-for-sale, net	301,640		(5,441)		—		—		—		296,199
Other revenues	62,335		52,513		—		—		—		114,848
Asset management revenues	—		—		—		180,384		—		180,384
Total Revenues	1,828,418		207,803		124,293		190,264		4		2,350,782
Interest expense and warehouse line fees	633,585		132,471		61,520		15,954		32,241		875,771
Other segment expenses(A)	232,209		39,110		7,926		47,913		27,559		354,717
Compensation and benefits	345,968		912		20,416		115,094		23,836		506,226
Depreciation and amortization	31,166		15,047		3,134		15,462		—		64,809
Total Operating Expenses	1,242,928		187,540		92,996		194,423		83,636		1,801,523
Realized and unrealized gains, net	—		34,698		43,305		1,625		—		79,628
Other income (loss), net	27,361		9,977		(1,842)		6,644		37		42,177
Total Other Income	27,361		44,675		41,463		8,269		37		121,805
Income (Loss) before Income Taxes	612,851		64,938		72,760		4,110		(83,595)		671,064
Income tax expense	135,161		4,157		1,619		4,123		—		145,060
Net Income (Loss)	477,690		60,781		71,141		(13)		(83,595)		526,004
Noncontrolling interests in income of consolidated subsidiaries	1,071		3,147		—		2,195		—		6,413
Net Income (Loss) Attributable to Rithm Capital Corp.	476,619		57,634		71,141		(2,208)		(83,595)		519,591
Dividends on preferred stock	—		—		—		—		44,790		44,790
Net Income (Loss) Attributable to Common Stockholders	$	476,619	$	57,634	$	71,141	$	(2,208)	$	(128,385)	$	474,801

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