SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Schedule 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 September 30, 2025
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$	579,281	$	—	$	—	$	—	$	—	$	579,281
Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(189,881))	(264,351)		—		—		—		—		(264,351)
Servicing revenue, net	314,930		—		—		—		—		314,930
Interest income	309,878		52,480		77,606		10,601		3,221		453,786
Gain (loss) on originated residential mortgage loans, held-for-sale, net	182,446		13,862		—		—		—		196,308
Other revenues	28,946		26,682		—		—		—		55,628
Asset management revenues	—		—		—		84,871		—		84,871
Total Revenues	836,200		93,024		77,606		95,472		3,221		1,105,523
Interest expense and warehouse line fees	254,253		78,767		36,785		6,181		26,704		402,690
Other segment expenses(A)	141,525		19,248		5,112		26,926		21,151		213,962
Compensation and benefits	198,213		1,032		15,805		65,590		18,433		299,073
Depreciation and amortization	6,342		7,429		1,936		7,423		—		23,130
Total Operating Expenses	600,333		106,476		59,638		106,120		66,288		938,855
Realized and unrealized gains, net	—		43,620		3,145		6,628		—		53,393
Other income (loss), net	(1,756)		7,433		138		10,987		7		16,809
Total Other Income (Loss)	(1,756)		51,053		3,283		17,615		7		70,202
Income (Loss) before Income Taxes	234,111		37,601		21,251		6,967		(63,060)		236,870
Income tax expense (benefit)	7,754		3		(627)		942		—		8,072
Net Income (Loss)	226,357		37,598		21,878		6,025		(63,060)		228,798
Noncontrolling interests in income of consolidated subsidiaries	916		1,454		—		961		—		3,331
Redeemable noncontrolling interests in income of consolidated subsidiaries	—		—		—		1,309		2,620		3,929
Net Income (Loss) Attributable to Rithm Capital Corp.	225,441		36,144		21,878		3,755		(65,680)		221,538
Dividends on preferred stock	—		—		—		—		27,876		27,876
Net Income (Loss) Attributable to Common Stockholders	$	225,441	$	36,144	$	21,878	$	3,755	$	(93,556)	$	193,662

(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 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
Nine Months Ended September 30, 2025
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$	1,724,899	$	—	$	—	$	—	$	—	$	1,724,899
Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(513,452))	(752,734)		—		—		—		—		(752,734)
Servicing revenue, net	972,165		—		—		—		—		972,165
Interest income	912,379		206,413		219,519		27,855		7,335		1,373,501
Gain (loss) on originated residential mortgage loans, held-for-sale, net	502,378		23,417		—		—		—		525,795
Other revenues	82,123		78,344		—		—		—		160,467
Asset management revenues	—		—		—		267,551		—		267,551
Total Revenues	2,469,045		308,174		219,519		295,406		7,335		3,299,479
Interest expense and warehouse line fees	830,817		208,307		102,106		28,980		69,402		1,239,612
Other segment expenses(A)	432,281		64,402		15,177		85,004		45,857		642,721
Compensation and benefits	561,084		3,198		45,504		198,321		56,840		864,947
Depreciation and amortization	20,282		23,232		5,792		22,155		31		71,492
Total Operating Expenses	1,844,464		299,139		168,579		334,460		172,130		2,818,772
Realized and unrealized gains (losses), net	—		62,891		11,997		764		(661)		74,991
Other income (loss), net	4,561		17,763		(716)		23,949		(1,197)		44,360
Total Other Income (Loss)	4,561		80,654		11,281		24,713		(1,858)		119,351
Income (Loss) before Income Taxes	629,142		89,689		62,221		(14,341)		(166,653)		600,058
Income tax expense (benefit)	(60,587)		(10,016)		(1,387)		44,534		—		(27,456)
Net Income (Loss)	689,729		99,705		63,608		(58,875)		(166,653)		627,514
Noncontrolling interests in income of consolidated subsidiaries	2,251		3,715		—		1,620		—		7,586
Redeemable noncontrolling interests in income of consolidated subsidiaries	—		—		—		1,873		5,989		7,862
Net Income (Loss) Attributable to Rithm Capital Corp.	687,478		95,990		63,608		(62,368)		(172,642)		612,066
Change in redemption value of redeemable noncontrolling interests	—		—		—		—		15,611		15,611
Dividends on preferred stock	—		—		—		—		82,371		82,371
Net Income (Loss) Attributable to Common Stockholders	$	687,478	$	95,990	$	63,608	$	(62,368)	$	(270,624)	$	514,084

(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 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
September 30, 2025
Investments(A)	$	21,614,292	$	5,216,553	$	2,575,354	$	—	$	—	$	29,406,199
Cash and cash equivalents(A)	1,155,874		28,080		71,388		96,945		258,671		1,610,958
Restricted cash(A)	187,467		46,957		72,653		7,448		235,989		550,514
Other assets(A)	6,156,590		2,378,829		183,140		1,149,756		5,842		9,874,157
Goodwill	29,468		—		55,731		48,633		—		133,832
Assets of consolidated entities(A)	—		3,071,055		985,815		1,532,864		—		5,589,734
Total Assets	$	29,143,691	$	10,741,474	$	3,944,081	$	2,835,646	$	500,502	$	47,165,394
Debt(A)	$	17,889,312	$	5,877,032	$	2,031,762	$	446,279	$	1,257,256	$	27,501,641
Other liabilities(A)	5,064,274		438,792		103,809		81,961		293,733		5,982,569
Liabilities of consolidated entities(A)	—		2,627,779		867,481		1,276,450		—		4,771,710
Total Liabilities	22,953,586		8,943,603		3,003,052		1,804,690		1,550,989		38,255,920
Redeemable Noncontrolling Interests of Consolidated Subsidiaries	—		—		—		60,800		235,989		296,789
Total Stockholders’ Equity	6,190,105		1,797,871		941,029		970,156		(1,286,476)		8,612,685
Noncontrolling interests in equity of consolidated subsidiaries	9,867		58,512		—		45,789		—		114,168
Stockholders’ Equity in Rithm Capital Corp.	$	6,180,238	$	1,739,359	$	941,029	$	924,367	$	(1,286,476)	$	8,498,517
Investments in Equity Method Investees	$	24,777	$	318,955	$	27,605	$	218,212	$	—	$	589,549
December 31, 2024
Total Assets(A)	$	32,418,256	$	7,463,738	$	3,439,075	$	2,508,130	$	219,758	$	46,048,957

(A)The Company's consolidated balance sheets include assets and liabilities of consolidated VIEs and certain other consolidated VIEs, including funds and CFEs that are presented separately within assets and liabilities of consolidated entities. VIE assets can only be used to settle obligations and liabilities of the VIEs. VIE 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 September 30, 2024
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$	493,171	$	—	$	—	$	—	$	—	$	493,171
Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(139,784))	(367,411)		—		—		—		—		(367,411)
Servicing revenue, net	125,760		—		—		—		—		125,760
Interest income	391,220		87,969		66,262		5,281		—		550,732
Gain on originated residential mortgage loans, held-for-sale, net	171,700		12,995		—		—		—		184,695
Other revenues	30,280		26,932		—		—		—		57,212
Asset management revenues	—		—		—		81,039		—		81,039
Total Revenues	718,960		127,896		66,262		86,320		—		999,438
Interest expense and warehouse line fees	370,641		79,885		34,304		8,243		17,095		510,168
Other segment expenses(A)	126,058		19,297		3,731		19,794		11,634		180,514
Compensation and benefits	181,343		288		9,520		58,267		16,255		265,673
Depreciation and amortization	15,093		10,632		1,567		7,523		—		34,815
Total Operating Expenses	693,135		110,102		49,122		93,827		44,984		991,170
Realized and unrealized gains, net	22		9,907		17,972		5,128		—		33,029
Other income (loss), net	(10,626)		6,107		36		8,334		—		3,851
Total Other Income (Loss)	(10,604)		16,014		18,008		13,462		—		36,880
Income (Loss) before Income Taxes	15,221		33,808		35,148		5,955		(44,984)		45,148
Income tax expense (benefit)	(84,764)		(4,916)		2,754		8,493		—		(78,433)
Net Income (Loss)	99,985		38,724		32,394		(2,538)		(44,984)		123,581
Noncontrolling interests in income of consolidated subsidiaries	847		(1,123)		—		2,115		—		1,839
Net Income (Loss) Attributable to Rithm Capital Corp.	99,138		39,847		32,394		(4,653)		(44,984)		121,742
Dividends on preferred stock	—		—		—		—		24,718		24,718
Net Income (Loss) Attributable to Common Stockholders	$	99,138	$	39,847	$	32,394	$	(4,653)	$	(69,702)	$	97,024

(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
Nine Months Ended September 30, 2024
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables	$	1,462,040	$	—	$	—	$	—	$	—	$	1,462,040
Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(421,761))	(490,377)		—		—		—		—		(490,377)
Servicing revenue, net	971,663		—		—		—		—		971,663
Interest income	1,009,760		248,700		190,555		15,161		4		1,464,180
Gain on originated residential mortgage loans, held-for-sale, net	473,340		7,554		—		—		—		480,894
Other revenues	92,615		79,445		—		—		—		172,060
Asset management revenues	—		—		—		261,423		—		261,423
Total Revenues	2,547,378		335,699		190,555		276,584		4		3,350,220
Interest expense and warehouse line fees	1,004,226		212,356		95,824		24,197		49,336		1,385,939
Other segment expenses(A)	358,267		58,407		11,657		67,707		39,193		535,231
Compensation and benefits	527,311		1,200		29,936		173,361		40,091		771,899
Depreciation and amortization	46,259		25,679		4,701		22,985		—		99,624
Total Operating Expenses	1,936,063		297,642		142,118		288,250		128,620		2,792,693
Realized and unrealized gains, net	22		44,605		61,277		6,753		—		112,657
Other income (loss), net	16,735		16,084		(1,806)		14,978		37		46,028
Total Other Income	16,757		60,689		59,471		21,731		37		158,685
Income (Loss) before Income Taxes	628,072		98,746		107,908		10,065		(128,579)		716,212
Income tax expense (benefit)	50,397		(759)		4,373		12,616		—		66,627
Net Income (Loss)	577,675		99,505		103,535		(2,551)		(128,579)		649,585
Noncontrolling interests in income of consolidated subsidiaries	1,918		2,024		—		4,310		—		8,252
Net Income (Loss) Attributable to Rithm Capital Corp.	575,757		97,481		103,535		(6,861)		(128,579)		641,333
Dividends on preferred stock	—		—		—		—		69,508		69,508
Net Income (Loss) Attributable to Common Stockholders	$	575,757	$	97,481	$	103,535	$	(6,861)	$	(198,087)	$	571,825

(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.