The company seems to benefit from some of its recent acquisitions. In 2023, the $ 1.4 billion in consumer loans acquired Goldman Sachs While a deal is also closed to buy Sculptor Capital Management And his $ 33 billion in assets. The deal for sculptor was $ 720 million, which was 14% more than the original range of Rithm.
Around the same time, Rithm also set up a $ 720 million deal Computershare Mortgage Services and his subsidiary, Specialized loan maintenanceThat $ 136 billion in unpaid main balance (UPB) brought to the Rithm service book.
Sculptor has added another $ 1 billion in assets in the past year, according to the income report 2024. And Newrez, which was highly dependent on his services segment to make a profit a year earlier, saw a considerable growth of its origin activities, which is now The fifth largest in the US is, according to Inside MortGage Finance (IMF). Last year, the lender recorded a $ 1.1 billion before tax revenues, an increase of $ 732 million in 2023.
“We still had a great year at Rithm and ended strongly with robust income, positive inflow and growth into each of our business segments,” said Michael Nierenberg, the chairman of the company, CEO and president, in a statement.
“Rithm yielded strong and consistent performance in each of the core companies, creating value for investors and shareholders. We have also completed our first full year with a sculptor and will continue to grow our world -class activist company in 2025 through strategic partnerships. “
Newrez placed a 20% before tax return at $ 5.6 billion in Q4 2024. The company is now number 3 of the largest primary mortgage managers in the country, according to IMF, and the UPB rose 32% years after year in the fourth Quarter to reach $ 844 to reach $ 844 billion.
Newrez continues to do most of its origin companies through the Correspondent Canal, but it has seen growth in wholesalers and consumers in the last four quarters of the last four quarters. In total, the funded loan volume rose from $ 8.9 billion in Q4 2023 to $ 17.3 billion in Q4 2024 – an increase of 94%.
Newrez reported “constantly momentum” for his equity and non-QM loan products, since the original rose by 29% between the third and fourth quarter. Home distribution loans include almost half of his mortgage services (MSRS), with 21% of the portfolio-to-value ratios of 50% or less.
The lender indicated that it is in a good position to recapture many of his existing service companies through investments in his brand and an ‘end-to-end digital experience’. It noted that more than 25% of its own MSR portfolio has coupon interest above 5%. The repair percentage of refinancing in 2024 it included in a second-end second-Lien-Loen-Was 52%, an increase of 41% two years earlier.
In a recent conversation about Housing‘s Powerhouse Podcast, Newrez President Baron Silverstein, said that the company does not exclude any further growth due to mergers and acquisitions in the future.
“We keep looking at all kinds of opportunities for us,” said Silverstein. “There is no reason for us not to look at the market opportunities – whether it is a possibility for maintenance, origin or technology. We will look to the extent that we have the feeling that it is creative for our company. “
