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SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Summary of Segment Financial Data
The following tables summarize segment financial information, which in total reconciles to the same data for Rithm Capital as a whole:
Origination and ServicingResidential Securities, Properties and Loans
OriginationServicingMSR Related Investments
Total Origination and Servicing(A)
Real Estate SecuritiesProperties and Residential Mortgage LoansConsumer LoansMortgage Loans ReceivableCorporateTotal
Three Months Ended June 30, 2022
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables$— $364,698 $104,780 $469,478 $— $— $— $— $— $469,478 
Change in fair value of MSRs and MSR financing receivables— 344,893 (8,330)336,563 — — — — — 336,563 
Servicing revenue, net— 709,591 96,450 806,041 — — — — — 806,041 
Interest income46,216 16,757 11,340 74,313 54,584 22,640 18,109 36,748 5,254 211,648 
Gain on originated residential mortgage loans, held-for-sale, net302,610 15,739 — 318,455 — (13,664)— — — 304,791 
Total revenues348,826 742,087 107,790 1,198,809 54,584 8,976 18,109 36,748 5,254 1,322,480 
Interest expense27,578 41,096 25,788 94,462 20,216 11,332 2,088 12,680 10,051 150,829 
G&A and other(B)
349,432 120,395 55,401 525,228 710 11,891 2,160 14,600 431,325 985,914 
Total operating expenses377,010 161,491 81,189 619,690 20,926 23,223 4,248 27,280 441,376 1,136,743 
Change in fair value of investments, net— (1,780)(93)(1,873)(241,213)11,399 (7,196)4,843 — (234,040)
Gain (loss) on settlement of investments, net— (564)(1,265)(1,829)117,179 (4,798)— (15,616)— 94,936 
Other income (loss), net1,832 207 16,280 18,319 (2,127)29,471 15,725 7,430 (9,430)59,388 
Total other income (loss)1,832 (2,137)14,922 14,617 (126,161)36,072 8,529 (3,343)(9,430)(79,716)
Income (loss) before income taxes(26,352)578,459 41,523 593,736 (92,503)21,825 22,390 6,125 (445,552)106,021 
Income tax expense (benefit)(6,522)151,236 9,466 154,180 — (2,480)1 (3,623)(75,388)72,690 
Net income (loss)(19,830)427,223 32,057 439,556 (92,503)24,305 22,389 9,748 (370,164)33,331 
Noncontrolling interests in income (loss) of consolidated subsidiaries1,287 — 41 1,328 — — 12,854 — — 14,182 
Dividends on preferred stock— — — — — — — — 22,427 22,427 
Net income (loss) attributable to common stockholders$(21,117)$427,223 $32,016 $438,228 $(92,503)$24,305 $9,535 $9,748 $(392,591)$(3,278)
(A)Includes elimination of intercompany transactions of $0.1 million primarily related to loan sales.
(B)Includes restructuring charge of $400.0 million in connection with the Internalization. Restructuring charges are reflected within the Corporate segment. See Note 25 for details.
Origination and ServicingResidential Securities, Properties and Loans
OriginationServicingMSR Related Investments
Total Origination and Servicing(A)
Real Estate SecuritiesProperties and Residential Mortgage LoansConsumer LoansMortgage Loans ReceivableCorporateTotal
Six Months Ended June 30, 2022
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables$— $713,103 $212,775 $925,878 $— $— $— $— $— $925,878 
Change in fair value of MSRs and MSR financing receivables— 842,210 69,746 911,956 — — — — — 911,956 
Servicing revenue, net— 1,555,313 282,521 1,837,834 — — — — — 1,837,834 
Interest income101,587 28,110 27,042 156,739 110,933 49,629 37,042 71,025 11,693 437,061 
Gain on originated residential mortgage loans, held-for-sale, net709,879 77,501 — 789,885 — (13,098)— — — 776,787 
Total revenues811,466 1,660,924 309,563 2,784,458 110,933 36,531 37,042 71,025 11,693 3,051,682 
Interest expense57,013 74,802 52,153 183,968 29,245 32,200 4,350 19,649 20,250 289,662 
G&A and other(B)
758,190 245,175 111,411 1,114,776 1,482 35,325 4,414 31,008 462,955 1,649,960 
Total operating expenses815,203 319,977 163,564 1,298,744 30,727 67,525 8,764 50,657 483,205 1,939,622 
Change in fair value of investments, net— (1,812)(1,502)(3,314)(367,162)(21,349)(20,929)31,595 — (381,159)
Gain (loss) on settlement of investments, net— (879)(3,464)(4,343)166,599 40,114 — (46,250)— 156,120 
Other income (loss), net3,927 1,088 45,223 50,238 (4,727)43,787 24,497 7,430 (9,505)111,720 
Total other income (loss)3,927 (1,603)40,257 42,581 (205,290)62,552 3,568 (7,225)(9,505)(113,319)
Income (loss) before income taxes190 1,339,344 186,256 1,528,295 (125,084)31,558 31,846 13,143 (481,017)998,741 
Income tax expense (benefit)157 312,155 40,963 353,275 — 1,177 38 (3,623)(75,388)275,479 
Net income (loss)33 1,027,189 145,293 1,175,020 (125,084)30,381 31,808 16,766 (405,629)723,262 
Noncontrolling interests in income (loss) of consolidated subsidiaries1,694 — 269 1,963 — — 17,828 — — 19,791 
Dividends on preferred stock— — — — — — — — 44,888 44,888 
Net income (loss) attributable to common stockholders$(1,661)$1,027,189 $145,024 $1,173,057 $(125,084)$30,381 $13,980 $16,766 $(450,517)$658,583 
(A)Includes elimination of intercompany transactions of $2.5 million primarily related to loan sales.
(B)Includes restructuring charge of $400.0 million in connection with the Internalization. Restructuring charges are reflected within the Corporate segment. See Note 25 for details.

Origination and ServicingResidential Securities, Properties and Loans
OriginationServicingMSR Related InvestmentsTotal Origination and ServicingReal Estate SecuritiesProperties and Residential Mortgage LoansConsumer LoansMortgage Loans ReceivableCorporateTotal
June 30, 2022
Investments$3,349,312 $7,156,949 $2,864,161 $13,370,422 $7,988,802 $2,821,898 $423,735 $1,756,079 $— $26,360,936 
Cash and cash equivalents170,412 653,879 247,676 1,071,967 317,818 1,529 1,730 34,353 83,451 1,510,848 
Restricted cash252,894 75,715 55,989 384,598 10,610 3,672 19,748 15,332 — 433,960 
Other assets669,315 2,343,393 2,325,958 5,338,666 176,823 212,571 32,837 164,169 237,838 6,162,904 
Goodwill11,836 12,540 5,092 29,468 — — — 55,731 — 85,199 
Total assets$4,453,769 $10,242,476 $5,498,876 $20,195,121 $8,494,053 $3,039,670 $478,050 $2,025,664 $321,289 $34,553,847 
Debt$3,421,076 $4,650,100 $3,341,447 $11,412,623 $7,660,612 $2,319,649 $357,663 $1,478,636 $604,244 $23,833,427 
Other liabilities363,425 2,424,304 150,330 2,938,059 10,932 339,357 998 21,588 346,488 3,657,422 
Total liabilities3,784,501 7,074,404 3,491,777 14,350,682 7,671,544 2,659,006 358,661 1,500,224 950,732 27,490,849 
Total equity669,268 3,168,072 2,007,099 5,844,439 822,509 380,664 119,389 525,440 (629,443)7,062,998 
Noncontrolling interests in equity of consolidated subsidiaries13,345 — 9,613 22,958 — — 46,213 — — 69,171 
Total Rithm Capital stockholders’ equity$655,923 $3,168,072 $1,997,486 $5,821,481 $822,509 $380,664 $73,176 $525,440 $(629,443)$6,993,827 
Investments in equity method investees$— $— $80,834 $80,834 $— $— $— $— $— $80,834 
Origination and ServicingResidential Securities, Properties and Loans
OriginationServicingMSR Related Investments
Total Origination and Servicing(A)
Real Estate SecuritiesProperties and Residential Mortgage LoansConsumer LoansMortgage Loans ReceivableCorporateTotal
Three Months Ended June 30, 2021
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables$(5,077)$219,070 $142,183 $356,176 $— $— $— $— $— $356,176 
Change in fair value of MSRs and MSR financing receivables— (224,515)(193,468)(417,983)— — — — — (417,983)
Servicing revenue, net(5,077)(5,445)(51,285)(61,807)— — — — — (61,807)
Interest income31,262 11,316 3,000 45,578 97,960 33,294 24,930 — — 201,762 
Gain on originated residential mortgage loans, held-for-sale, net268,539 12,794 (56,861)273,697 (3,638)16,826 — — — 286,885 
Total revenues294,724 18,665 (105,146)257,468 94,322 50,120 24,930 — — 426,840 
Interest expense18,960 18,643 25,961 63,564 13,630 17,463 2,873 — 9,009 106,539 
G&A and other200,551 86,956 50,124 337,631 1,034 20,968 2,912 — 28,848 391,393 
Total operating expenses219,511 105,599 76,085 401,195 14,664 38,431 5,785 — 37,857 497,932 
Change in fair value of investments, net— — (9,281)(9,281)119,565 121,242 (1,626)— — 229,900 
Gain (loss) on settlement of investments, net— (965)226 (739)(76,270)(1,254)— — (348)(78,611)
Other income (loss), net138 — 7,660 7,798 1,756 50,858 2,367 — 1,673 64,452 
Total other income (loss)138 (965)(1,395)(2,222)45,051 170,846 741 — 1,325 215,741 
Income (loss) before income taxes75,351 (87,899)(182,626)(145,949)124,709 182,535 19,886 — (36,532)144,649 
Income tax expense (benefit)19,030 (16,035)(21,381)(18,386)— 17,288 21 — — (1,077)
Net income (loss)56,321 (71,864)(161,245)(127,563)124,709 165,247 19,865 — (36,532)145,726 
Noncontrolling interests in income (loss) of consolidated subsidiaries3,225 — (1,825)1,400 — — 8,653 — — 10,053 
Dividends on preferred stock— — — — — — — — 14,358 14,358 
Net income (loss) attributable to common stockholders$53,096 $(71,864)$(159,420)$(128,963)$124,709 $165,247 $11,212 $— $(50,890)$121,315 
(A)Includes elimination of intercompany transactions of $49.2 million primarily related to loan sales.
Origination and ServicingResidential Securities, Properties and Loans
OriginationServicingMSR Related Investments
Total Origination and Servicing(A)
Real Estate SecuritiesProperties and Residential Mortgage LoansConsumer LoansMortgage Loans ReceivableCorporateTotal
Six Months Ended June 30, 2021
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables$(13,187)$438,623 $279,024 $704,460 $— $— $— $— $— $704,460 
Change in fair value of MSRs and MSR financing receivables— (77,164)(148,545)(225,709)— — — — — (225,709)
Servicing revenue, net(13,187)361,459 130,479 478,751 — — — — — 478,751 
Interest income54,114 16,189 24,584 94,887 187,810 69,616 50,396 — — 402,709 
Gain on originated residential mortgage loans, held-for-sale, net652,962 24,811 (64,892)650,599 9,760 29,974 — — — 690,333 
Total revenues693,889 402,459 90,171 1,224,237 197,570 99,590 50,396 — — 1,571,793 
Interest expense37,023 41,743 54,763 133,529 29,350 38,739 5,891 — 17,935 225,444 
G&A and other390,477 177,563 105,245 673,285 2,190 38,654 5,948 — 55,983 776,060 
Total operating expenses427,500 219,306 160,008 806,814 31,540 77,393 11,839 — 73,918 1,001,504 
Change in fair value of investments, net— — (11,105)(11,105)(172,569)181,416 (7,630)— — (9,888)
Gain (loss) on settlement of investments, net— (1,630)(12,186)(13,816)(104,626)28,187 — — (348)(90,603)
Other income (loss), net197 1,092 15,044 16,333 964 55,945 160 — 1,044 74,446 
Total other income (loss)197 (538)(8,247)(8,588)(276,231)265,548 (7,470)— 696 (26,045)
Income (loss) before income taxes266,586 182,615 (78,084)408,835 (110,201)287,745 31,087 — (73,222)544,244 
Income tax expense (benefit)55,416 17,639 (8,544)64,511 — 32,591 80 — — 97,182 
Net income (loss)211,170 164,976 (69,540)344,324 (110,201)255,154 31,007 — (73,222)447,062 
Noncontrolling interests in income (loss) of consolidated subsidiaries6,750 — (517)6,233 — — 13,214 — — 19,447 
Dividends on preferred stock— — — — — — — — 28,716 28,716 
Net income (loss) attributable to common stockholders$204,420 $164,976 $(69,023)$338,091 $(110,201)$255,154 $17,793 $— $(101,938)$398,899 
(A)Includes elimination of intercompany transactions of $37.7 million primarily related to loan sales.

Servicing Segment Revenues

The table below summarizes the components of servicing segment revenues:
Three Months Ended
June 30,		Six Months Ended
June 30,
2022202120222021
Base servicing
MSR assets$300,676 $150,605 $581,786 $303,083 
Residential whole loans3,019 1,163 6,408 2,240 
Third party23,069 25,408 46,722 52,520 
326,764 177,176 634,916 357,843 
Other fees
Ancillary and other fees(A)
37,934 41,894 78,187 80,780 
Change in fair value due to:
Realization of cash flows(117,680)(212,793)(250,956)(422,062)
Change in valuation inputs and assumptions and other462,573 (11,722)1,093,166 344,898 
Total servicing fees
$709,591 $(5,445)$1,555,313 $361,459 
Servicing data - unpaid principal balance (“UPB”) (period end) (in millions)
UPB – MSR assets$399,900 $221,747 $399,900 $221,747 
UPB – Residential whole loans10,959 7,751 10,959 7,751 
UPB – Third party87,190 76,409 87,190 76,409 
(A)Includes incentive, boarding and other fees.