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Mar 31
NRZ Q1 2025 Earnings Report
Rithm Capital reported solid results in Q1 2025, supported by diversified revenue streams and strategic capital market activities.
Key Takeaways
Rithm Capital posted GAAP net income of $36.5M and earnings available for distribution of $275.3M in Q1 2025, driven by robust servicing and asset management contributions, alongside record-setting MSR financing and strong origination activity.
Completed $878M MSR-backed debt financing, the largest-ever of its kind.
Generated $275.3M in earnings available for distribution.
Newrez reported $11.8B in origination volume and $845B in servicing UPB.
Sculptor Capital grew AUM to $35B, with $1.4B in fundraising inflows.
NRZ
NRZ
NRZ Revenue by Segment
Revenue by Segment
Origination Revenue
CapyFin.comInvestment Revenue
CapyFin.comResidential Lending Revenue
CapyFin.comAsset Management Revenue
CapyFin.comCorporate Revenue
CapyFin.com Forward Guidance
Rithm Capital remains optimistic about its multi-platform strategy and continued performance growth amid a challenging macro backdrop.
Positive Outlook
- Diversified platform supporting stable earnings.
- Strong capital market access with innovative MSR financing.
- Resilient performance across operating businesses.
- Growth in third-party servicing and origination volume.
- Expansion in alternative asset management through Sculptor.
Challenges Ahead
- Challenging macroeconomic environment.
- Decline in GAAP net income vs. prior quarter.
- Volatility in MSR valuation impacting reported income.
- Lower contribution from asset management versus Q4 2024.
- Dependence on continued access to capital markets for strategic execution.