General World News

Rithm Capital delivers $524M profit in 2023 

New York-based Rithm Capital posted a profit in 2023, a year marked by several acquisitions that turned the company into a leading global asset manager. In the mortgage space, the parent of multichannel lender Newrez earned most of its profits from the servicing business. 

Lower interest rates, however, reduced the value of mortgage servicing rights (MSR) in the final three quarters of the year and affected the company’s overall performance during the period.  

On Wednesday, Rithm announced a $532.7 million GAAP net income in 2023 — lower than the figure of $864.8 million in the prior year, per Securities and Exchange Commission (SEC) details ⇒

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