New York-based asset manager Rithm Capital, the owner of multichannel lender Newrez, reported a 58% increase in refinances to $3 billion in the third quarter of 2024 after mortgage rates dropped due to the Federal Reserve’s 50 basis-point rate cut. But executives expect things to calm down moving forward. 

“I think we’re going to get ourselves more to what I’ll say is the market on a normalized basis,” Newrez President Baron Silverstein told analysts in an earnings call on Tuesday. “That said, we see our direct lending channels, as we continue to details ⇒

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