Rithm Capital Corp (NYSE: RITM) is a real estate investment trust (REIT) that invests in and operates businesses across the residential mortgage, real estate, and credit markets. It generates income through mortgage servicing rights (MSRs), loan origination, asset management fees, and investment portfolio returns across residential mortgage-related assets and credit instruments. Headquartered in New York City, Rithm operates through wholly owned subsidiaries including Newrez (mortgage origination and servicing), Genesis (residential transitional lending), and Rithm Asset Management LLC (RAM), which conducts asset management activities through Sculptor Capital Management, Crestline, and Rithm Capital Advisors LLC. The company also owns businesses providing title, appraisal, and property preservation and maintenance services, and holds investments in single-family rental (SFR) properties. RAM generates management fees and incentive income from investment vehicles and managed accounts. As of the 10-K filed February 19, 2026, Rithm maintains offices in London, Hong Kong, Tokyo, Toronto, and Abu Dhabi in addition to its New York City headquarters.

Revenue model

Rithm earns income from four primary sources: contractual mortgage servicing fees and ancillary revenue (late fees, modification incentives) tied to its MSR portfolio; loan origination activity through Newrez and Genesis; asset management fees and incentive income from AUM managed through Sculptor, Crestline, and Rithm Capital Advisors; and investment portfolio returns from RMBS, Excess MSRs, servicer advance investments, SFR properties, CLOs, commercial real estate, and consumer loans.

Products and services

Mortgage servicing rights (MSRs) and Excess MSRs; residential mortgage loan origination (conforming, government-guaranteed, non-conforming, jumbo, subprime, Alt-A); residential transitional lending including fix-and-flip, bridge, new construction, and build-to-rent loans (Genesis); asset management through Sculptor Capital Management, Crestline, and Rithm Capital Advisors; title, appraisal, and property preservation and maintenance services; single-family rental (SFR) property investments; RMBS and non-Agency securities; servicer advance investments; CLOs; consumer loans.

Customers and end markets

Residential mortgage borrowers (conforming, FHA, VA, USDA, jumbo, and non-QM); residential real estate investors, developers, and sponsors seeking transitional financing; institutional investors in managed funds and accounts; GSE loan purchasers (Fannie Mae, Freddie Mac); Ginnie Mae program participants.

Value-chain role

Rithm sits across multiple positions in the residential mortgage value chain: as an originator (through Newrez and Genesis), a servicer holding MSRs, a capital markets investor in RMBS and related credit instruments, and an asset manager collecting fees on third-party capital. It also provides ancillary real estate services (title, appraisal, property preservation).

Geographic exposure

Primarily U.S. residential and commercial real estate markets. Global offices in London, Hong Kong, Tokyo, Toronto, and Abu Dhabi support the asset management business, per the 10-K filed February 19, 2026.

Source: SEC 10-K, filed 2026-02-19

Industry: Real Estate Investment Trusts Peers: AGNC Investment Corp Annaly Capital Management Inc Apollo Commercial Real Estate Finance Inc Arbor Realty Trust Inc Blackstone Mortgage Trust Inc Chimera Investment Corp Claros Mortgage Trust Inc HA Sustainable Infrastructure Capital Inc Starwood Property Trust Inc