Rithm Capital saw refinances increase to $3 billion, a 58% rise after the Federal Reserve cut rates by 50 basis points, with expectations for market normalization ahead.
Despite the substantial bump in refinancing, Newrez President Baron Silverstein indicated that ongoing momentum is anticipated, particularly through their recapture investments, which are crucial to future growth.
Rithm's servicing segment shone brightly this quarter, with a pretax income of $223 million, reflecting the strength of their extensive portfolio and effective mortgage servicing rights management.
The robust origination performance at Rithm Capital, with a $15.9 billion total for Q3 2024, indicates a significant increase compared to the same quarter last year and to the prior quarter.
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