Record Quarter for Genesis
Genesis, Rithm's RTL lender, reported a record quarter of production, more than doubling origination since its acquisition in 2022 and tripling earnings.
Strong Asset Management Growth
Rithm's asset management teams, including Sculptor and Rithm Asset Management, saw inflows across real estate and ABF products, with a recently announced SMA potentially reaching $1.5 billion in RTL loans.
Significant Increase in Asset Management AUM
Sculptor's AUM grew by $3.5 billion since closing, with continued fundraising momentum across various products.
Newrez: Growing Mortgage Servicing
Newrez's servicing portfolio grew to $864 billion, driven by third-party servicing increases and strategic growth initiatives.
Financial Performance Metrics
GAAP net income for the quarter was $283.9 million, with a return on equity of 17% and earnings available for distribution at $291.1 million, indicating an 18% return on equity.
Technological Advancements
Significant gains were reported from Rezi AI investments, enhancing operational efficiency and customer experience.