Income StatementBalance SheetCash FlowSegments
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New Residential Investment Corp. Business Segments

Business, geographic, and product segment breakdowns

New Residential Investment Corp. generates $5.3B in annual revenue across 4 key segments: Corporate Category ($2.6M), Investment Portfolio ($136.1M), Origination and Servicing ($828.2M), and Residential Transitional Lending ($87.7M). Based on the Q1 2026 filing.

Corporate Category$2.6MInvestment Portfolio$136.1MOrigination and Servicing$828.2MResidential Transitional Lending$87.7M
Latest FilingQ1 2026
Report Date2026-05-04
ROE8.43%

Products & Services

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Rental revenue—$19.4M———$191.7M

Derivative liability, notional amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Ceded Reserves————$865.8M$962.5M
Funds Withheld————$860.8M$954.1M
Fixed Indexed Annuity————$26.4M$34.0M

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Servicing fee revenue, net and interest income from MSRs and MSR financing receivables$531.3M$570.8M$574.8M$579.3M$570.1M$579.3M
Interest income$485.6M$441.3M$478.5M$453.8M$500.8M$461.9M
Servicing revenue, net$565.7M$237.4M$419.8M$314.9M$148.3M$375.1M
Gain on originated residential mortgage loans, held-for-sale, net$201.6M$159.8M$169.7M$196.3M$203.7M$208.3M
Change in fair value of MSRs and MSR financing receivables, net of economic hedges (includes realization of cash flows of $(211,456) and $(146,891), respectively)-$30.8M-$333.4M-$155.0M-$264.4M-$421.8M-$204.2M

Cash surrender value

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Annuities————$812.7M$898.0M
Fixed Indexed Annuities————$66.5M$79.5M

Crestline Acquisition (Note 3)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Annuities—$211.2M$211.2M$211.2M$211.2M—
Fixed Indexed Annuities—$17.5M$17.5M$17.5M$17.5M—

Deposits

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Annuities—$8.8M$8.8M$8.8M$8.8M$93.6M
Fixed Indexed Annuities—$928.0K$928.0K$928.0K$928.0K$13.6M

Interest credited

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Annuities—$1.2M$1.2M$1.2M$1.2M$12.8M
Fixed Indexed Annuities—$46.8K$46.8K$46.8K$46.8K$471.0K

Interest Sensitive Insurance Contract Liabilities

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Annuities————$880.5M$971.8M
Fixed Indexed Annuities————$74.0M$88.0M
Other————$5.7M$9.6M

Net amount at risk

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Annuities————$0.0$0.0
Fixed Indexed Annuities————$0.0$0.0

Policy charges

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Annuities—$2.3K$2.3K$2.3K$2.3K$17.0K
Fixed Indexed Annuities—$0.0$0.0$0.0$0.0$0.0

Policyholder Account Balance, Benefit Payment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Annuities—$285.5K$285.5K$285.5K$285.5K$6.1M
Fixed Indexed Annuities—$0.0$0.0$0.0$0.0$72.0K

Policyholder Account Balance, Excluding Unearned Revenue Liability

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Annuities$0.0———$880.5M$971.8M
Fixed Indexed Annuities$0.0———$74.0M$88.0M

Policyholder Account Balance, Surrender and Withdrawal

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Annuities—$868.8K$868.8K$868.8K$868.8K$9.0M
Fixed Indexed Annuities—$750.0$750.0$750.0$750.0$52.0K

Weighted average crediting rate

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Deferred Annuities————6.0%6.0%
Fixed Indexed Annuities————4.0%4.0%

Total Income and Fees Receivable

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Management fees$25.3M$33.6M$46.2M$57.6M$47.5M$45.8M
Incentive income$183.3M$30.9M$28.5M$9.8M$290.2M$33.2M

Unearned income and fees

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Incentive income$17.3M$14.5M$14.2M$9.6M$9.0M$9.2M
Management fees$12.0K$852.0K$4.0K$0.0$310.0K$4.0M

Geographic

Building and Improvements

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
New York————$1.7B—
San Francisco————$603.4M—

Encumbrances

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
New York————$3.0B—
San Francisco————$1.1B—

Land

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
New York————$1.2B—
San Francisco————$552.5M—

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
New York————$3.0M—
San Francisco————$1.0M—

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Gross

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
New York————$2.9B—
San Francisco————$1.2B—

Percentage of Total Outstanding Unpaid Principal Amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other U.S.40.2%40.3%40.8%40.9%41.2%41.3%

Business Segments

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$32.4B$30.1B$28.6B$29.1B$27.5B$28.3B
Investment Portfolio$7.5B$8.6B$8.9B$10.7B$10.7B$9.9B
Residential Transitional Lending$3.4B$3.7B$3.8B$3.9B$4.1B$4.5B
Corporate Category$219.8M$527.9M$590.3M$500.5M$458.6M$245.4M

Cash & Equivalents

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$1.0B$1.0B$1.0B$1.2B$1.2B$1.1B
Residential Transitional Lending$37.6M$47.1M$67.1M$71.4M$97.0M$108.9M
Investment Portfolio$28.0M$24.1M$24.9M$28.1M$32.9M$24.0M
Corporate Category$214.0M$292.1M$353.6M$258.7M$210.5M$4.0M

Compensation and benefits

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$179.5M$172.7M$190.2M$198.2M$213.4M$207.1M
Corporate Category$8.0M$17.9M$20.5M$18.4M$20.6M$21.1M
Residential Transitional Lending$17.4M$14.4M$15.3M$15.8M$17.6M$20.8M
Investment Portfolio$2.6M$1.2M$1.0M$1.0M$795.0K$5.1M

Debt

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$22.0B$20.4B$18.7B$17.9B$16.8B$16.8B
Investment Portfolio$3.1B$4.3B$4.6B$5.9B$5.7B$5.1B
Residential Transitional Lending$1.7B$1.9B$2.1B$2.0B$2.2B$2.6B
Corporate Category$1.0B$1.0B$1.3B$1.3B$1.3B$1.3B

D&A

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Portfolio$5.1M$8.0M$7.8M$7.4M$8.9M$8.5M
Origination and Servicing$10.2M$7.7M$6.3M$6.3M$6.2M$6.1M
Residential Transitional Lending$1.6M$1.6M$2.3M$1.9M$1.9M$1.9M
Corporate Category$21.0K$4.0K$27.0K$0.0$0.0$0.0

Due to affiliates

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$4.7B$4.2B$4.1B$5.1B$5.0B$5.7B
Corporate Category$235.8M$251.7M$242.6M$293.7M$294.7M$963.9M
Investment Portfolio$433.8M$419.2M$417.5M$438.8M$435.5M$460.0M
Residential Transitional Lending$30.0M$26.5M$29.5M$103.8M$87.6M$59.6M

Equity, Attributable to Parent

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$5.7B$5.5B$5.8B$6.2B$5.6B$5.8B
Corporate Category-$1.0B-$989.6M-$1.1B-$1.3B-$1.3B-$2.2B
Investment Portfolio$1.5B$1.5B$1.6B$1.7B$1.7B$1.6B
Residential Transitional Lending$801.6M$845.6M$820.7M$941.0M$881.5M$934.2M

Equity, Including Portion Attributable to Noncontrolling Interest

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$5.7B$5.5B$5.8B$6.2B$5.6B$5.8B
Corporate Category-$1.0B-$989.6M-$1.1B-$1.3B-$1.3B-$2.2B
Investment Portfolio$1.6B$1.6B$1.6B$1.8B$1.7B$1.6B
Residential Transitional Lending$801.6M$845.6M$820.7M$941.0M$881.5M$934.2M

Gain (Loss) on Investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Portfolio—$3.1M$16.2M$43.6M$40.5M-$13.0M
Residential Transitional Lending—$2.0M$6.8M$3.1M$6.8M-$606.0K
Corporate Category$0.0$0.0-$661.0K$0.0$0.0$0.0
Origination and Servicing$65.3M$0.0$0.0$0.0$0.0$0.0

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Residential Transitional Lending$55.7M$55.7M$55.7M$55.7M$55.7M$55.7M
Origination and Servicing$29.5M$29.5M$29.5M$29.5M$29.5M$29.5M
Corporate Category$0.0$0.0$0.0$0.0$0.0$0.0
Investment Portfolio$0.0$0.0$0.0$0.0$0.0$0.0

Impairment loss

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing—$0.0$0.0$0.0$0.0$0.0
Residential Transitional Lending$0.0$0.0$0.0$0.0$0.0$0.0

Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$484.7M$90.0M$305.0M$234.1M$32.6M$250.6M
Corporate Category-$39.9M-$47.4M-$56.2M-$63.1M-$48.5M-$75.7M
Residential Transitional Lending$3.5M$15.9M$25.1M$21.3M$25.5M$23.1M
Investment Portfolio—$18.0M$34.1M$37.6M$81.4M$19.5M

Interest expense and warehouse line fees

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$322.9M$292.9M$283.6M$254.3M$254.3M$215.8M
Investment Portfolio$59.6M$59.6M$69.9M$78.8M$87.9M$76.6M
Corporate Category$25.0M$20.7M$22.0M$26.7M$26.7M$38.0M
Residential Transitional Lending$29.9M$31.7M$33.6M$36.8M$35.0M$35.7M

Investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$24.1B$22.8B$21.5B$21.6B$18.3B$18.7B
Investment Portfolio$2.4B$3.5B$3.8B$5.2B$4.9B$4.2B
Residential Transitional Lending$2.2B$2.3B$2.5B$2.6B$2.7B$3.2B
Corporate Category$0.0$0.0$0.0$0.0$0.0$0.0

Investments, at fair value and other assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Portfolio$2.8B$2.7B$2.6B$3.1B$3.3B$3.2B
Residential Transitional Lending$995.7M$990.2M$989.4M$985.8M$980.8M$974.2M
Corporate Category$0.0$0.0$0.0$0.0$0.0$0.0
Origination and Servicing$0.0$0.0$0.0$0.0$0.0$0.0

Investments in Equity Method Investees

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Portfolio$291.6M$294.8M$308.3M$319.0M$324.5M$325.9M
Residential Transitional Lending$13.4M$14.4M$14.7M$27.6M$27.7M$28.4M
Origination and Servicing$24.5M$25.2M$24.7M$24.8M$25.1M$26.9M
Corporate Category$0.0$0.0$0.0$0.0$0.0$0.0

Total Liabilities

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$26.7B$24.6B$22.8B$23.0B$21.9B$22.5B
Investment Portfolio$5.9B$7.0B$7.2B$8.9B$9.0B$8.3B
Residential Transitional Lending$2.6B$2.8B$3.0B$3.0B$3.2B$3.6B
Corporate Category$1.3B$1.3B$1.5B$1.6B$1.6B$2.2B

Non-controlling interests in equity of consolidated subsidiaries

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Portfolio$41.7M$58.7M$58.6M$58.5M$58.2M$58.4M
Origination and Servicing$9.7M$9.1M$9.4M$9.9M$9.8M$9.6M
Corporate Category$0.0$0.0$0.0$0.0$0.0$0.0
Residential Transitional Lending$0.0$0.0$0.0$0.0$0.0$0.0

Nonoperating Gains (Losses)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$4.9M-$118.0K$6.4M-$1.8M$527.0K$2.6M
Investment Portfolio—$4.6M$25.0M$51.1M$69.3M-$1.3M
Residential Transitional Lending—$1.9M$6.1M$3.3M$7.0M$449.0K
Corporate Category$12.0K$5.0K-$1.9M$7.0K$0.0$2.0K

Notes payable, at fair value and other liabilities

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Portfolio$2.4B$2.3B$2.2B$2.6B$2.8B$2.7B
Residential Transitional Lending$860.1M$860.8M$864.0M$867.5M$868.2M$864.4M
Corporate Category$0.0$0.0$0.0$0.0$0.0$0.0
Origination and Servicing$0.0$0.0$0.0$0.0$0.0$0.0

Operating Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$654.7M$617.1M$627.1M$600.3M$633.9M$580.2M
Investment Portfolio$89.5M$91.7M$100.9M$106.5M$124.3M$115.3M
Corporate Category$39.9M$48.4M$57.5M$66.3M$51.6M$78.4M
Residential Transitional Lending$56.8M$52.5M$56.5M$59.6M$63.6M$65.0M

Other assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$7.1B$6.2B$5.9B$6.2B$7.8B$8.3B
Investment Portfolio$2.2B$2.3B$2.4B$2.4B$2.4B$2.5B
Residential Transitional Lending$122.1M$204.2M$156.8M$183.1M$174.4M$140.2M
Corporate Category$5.8M$4.9M$3.3M$5.8M$9.7M$5.4M

Other income (loss), net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Investment Portfolio$5.9M$1.5M$8.8M$7.4M$28.9M$11.7M
Origination and Servicing$4.9M-$118.0K$6.4M-$1.8M$527.0K$2.6M
Residential Transitional Lending—-$141.0K-$713.0K$138.0K—$1.1M
Corporate Category$12.0K$5.0K-$1.2M$7.0K$0.0$2.0K

Other segment expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$142.1M$143.8M$147.0M$141.5M$160.0M$151.3M
Investment Portfolio$22.3M$23.0M$22.2M$19.2M$26.7M$25.1M
Corporate Category$7.0M$9.8M$14.9M$21.2M$4.3M$19.3M
Residential Transitional Lending$7.9M$4.8M$5.2M$5.1M$9.1M$6.5M

Redeemable Non-controlling Interests of Consolidated Subsidiaries (Note 22)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Category—$230.8M$233.4M$236.0M$238.4M$240.7M
Investment Portfolio—$0.0$0.0$0.0$0.0$0.0
Origination and Servicing—$0.0$0.0$0.0$0.0$0.0
Residential Transitional Lending—$0.0$0.0$0.0$0.0$0.0

Restricted Cash

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Category$0.0$230.8M$233.4M$236.0M$238.4M$235.9M
Origination and Servicing$207.7M$174.2M$179.9M$187.5M$174.7M$156.2M
Investment Portfolio$49.1M$52.1M$43.8M$47.0M$44.5M$35.6M
Residential Transitional Lending$33.6M$34.7M$21.0M$72.7M$43.2M$23.5M

Total Restricted Cash

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Corporate Category$0.0$230.8M$233.4M$236.0M$238.4M$235.9M
Origination and Servicing$207.7M$174.2M$179.9M$187.5M$174.7M$156.2M
Investment Portfolio$66.4M$67.1M$51.8M$66.3M$62.6M$52.6M
Residential Transitional Lending$40.7M$43.3M$29.3M$82.4M$56.0M$36.9M

Total Revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Asset management$265.0M$97.1M$102.8M$95.5M$403.2M$143.7M

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Origination and Servicing$1.1B$707.2M$925.6M$836.2M$665.9M$828.2M
Investment Portfolio$100.5M$105.1M$110.0M$93.0M$136.4M$136.1M
Residential Transitional Lending$67.3M$66.5M$75.4M$77.6M$82.1M$87.7M
Corporate Category$3.0K$988.0K$3.1M$3.2M$3.2M$2.6M

Goodwill acquired

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Residential Transitional Lending$0.0$0.0$0.0$0.0$0.0—