Rithm Capital Reports Q3 2026 Earnings with Increased Net Income and Asset Management Growth
Rithm Capital (RITM) reported a significant increase in GAAP net income for the third quarter of 2026, reaching $217.1 million ($0.38 per diluted share), up from $20.2 million in the previous quarter. The company's book value rose to $12.51 per common share, supported by strong performance in hedging activities and its mortgage servicing rights portfolio. Asset management assets under management (AUM) remained steady at $61 billion. Despite a 19% quarter-over-quarter decrease in origination funded production due to high interest rates, the company saw growth in specific segments, such as Genesis Capital's residential transition loans which grew 25% year-over-year. Management is also targeting $125 million in technology savings through AI initiatives and a platform migration planned for early 2027. However, leadership warned of potential production declines heading into the final quarter due to rising interest rates and geopolitical volatility.
Tickers: $RITM
Topics: Asset Management AUM GAAP Net Income Mortgage Servicing Origination Production Real Estate Leasing
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