NRZ Q1 2024 Earnings Report
Key Takeaways
Rithm Capital Corp. reported a GAAP net income of $261.6 million, or $0.54 per diluted common share, and earnings available for distribution of $233.2 million, or $0.48 per diluted common share for the first quarter ended March 31, 2024. The company's well-balanced business lines contributed positively, with origination funding production volume increasing by 21% QoQ and 54% YoY.
GAAP net income was $261.6 million, or $0.54 per diluted common share.
Earnings available for distribution were $233.2 million, or $0.48 per diluted common share.
Origination funded production volume increased by 21% QoQ and 54% YoY to $10.8 billion.
Mortgage servicing rights portfolio totaled $587 billion in unpaid principal balance, with an average constant prepayment rate of approximately 5%.
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Forward Guidance
Rithm is well positioned for success in the current market environment and is excited to continue delivering strong results for its shareholders and LPs on an ongoing basis.