Rithm (RITM) Q2 2025 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Tue, April 28, 2026 astatine 12:47 PM CDT 42 min read

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Date

Monday, July 28, 2025 astatine 8:00 a.m. ET

Call participants

• Chairman, Chief Executive Officer, and President — Michael Nierenberg

• President (Newrez) — Baron Silverstein

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Full Conference Call Transcript

Michael Nierenberg: Thanks, Emma. Good morning, everyone, and invited to our 2nd 4th net call. The institution had a large quarter. And erstwhile you look crossed each of our concern lines and subsidiaries, everything truthful acold continues to execute very, precise well. On the origination broadside of our business, Newrez and Genesis, Newrez our owe company, Genesis, our RTL lender, are genuinely manufacture leaders. Genesis is coming disconnected a grounds 4th of production. And erstwhile you deliberation astir Genesis and you spell backmost to erstwhile we acquired the institution successful 2022, we've really grown -- we've much than doubled origination, and we've taken net up by astir threefold since we acquired the company. Newrez, our owe institution continues to grow.

We proceed to adhd third-party servicing to the platform. Today, our full servicing is successful excess of $850 billion. On the plus absorption side, our concern teams, some astatine Sculptor and Rithm Asset Management are seeing inflows crossed the board, led by some existent property and ABF, asset-based concern products. When you deliberation astir asset-based concern oregon ABF, determination are precise fewer plus managers successful our opinion, who person the aforesaid acquisition and quality to root merchandise arsenic Rithm does. We person an edge. It's that simple. Aside from sourcing assets from 3rd parties similar everyone else, we marque our ain assets. We power the origination. We power the servicing connected galore of the products.

And erstwhile you deliberation astir this, these are the precise aforesaid products that we've been moving connected our full careers, and that goes backmost 30-plus years. Recently, we announced a ample SMA astatine the Rithm Asset Management level with 2 ample organization investors connected our RTL product, creating an SMA that could beryllium arsenic ample arsenic $1.5 cardinal of loans connected a go-forward basis. As we look forward, we've been precise wide astir our tendency to turn our plus absorption platform. Like I accidental each quarter, show matters first, and we'll proceed to bash each we tin to differentiate ourselves wherever we can, earning the spot of our LPs and shareholders.

Our plethora of money offerings are tailored to conscionable our capitalist needs, and we volition proceed to rotation retired much products wherever we consciousness we tin make an borderline versus others. I'm truly excited astir our concern and the quality to turn our world-class plus absorption business. Have a look astatine our results. They're terrific. On the M&A front, our pipelines are robust. We are moving connected scaling up our recognition business, our origination concern lines and different opportunistic situations wherever we tin make worth for some shareholders and LPs. Looking ahead, we're focused connected increasing earnings, creating synergies wherever imaginable and doing the aforesaid happening which got america here. Great results adjacent much AUM and a higher equity price.