Rithm Capital (US:RITM)2024-04-30 11:48Financial Performance - Rithm Capital's Q1 2024 GAAP Net Income attributable to common stockholders was $261.64 million[115] - The company's book value per share increased to $12.19, a 2.4% QoQ increase[109] - Earnings Available for Distribution was $233 million, or $0.48 per diluted share[200, 146] - Total Economic Return for Q1 2024 was 4.20%[15] Strategic Acquisitions and Growth - Rithm Capital expects the acquisition of Specialized Loan Servicing LLC ("SLS") to close in Q2'24, adding $45 billion UPB of MSRs and $104 billion UPB in third-party servicing[7, 65] - Genesis Capital achieved record Q1'24 originations of $840 million in commitments[47] - Newrez's third-party servicing UPB grew by 9% QoQ[45] Portfolio and Servicing - The total servicing portfolio reached $857 billion UPB[54] - The Full MSR portfolio is valued at $572 billion post-SLS acquisition, with 88% serviced by Newrez[54] - Newrez's cost-to-service decreased 16% YoY[45] Sculptor Integration - Sculptor's total AUM is approximately $32 billion, with ~$24 billion in Total Credit AUM[40] - Sculptor launched Sculptor Loan Financing Partners platform with anchor investment from Rithm[8, 40]