Thanks, morning, everyone, year in. transformational a many Good us for thanks in was for XXXX ways. dialing and Phil.
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over in XX% company company, our by mortgage our the overall right-sized we units, business operating our year-on-year. Regarding G&A
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the been we've will continue higher fantastic, portfolios, vocal we And MSR totaled seen. point, been which we this the will not flows We've have fight Fed. fight into billion rate at not tons markets the cash to $XXX Our Fed. generating very of
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little right Our now on look a shy had year, XX%, a are of beyond. and Genesis our in great which the business, Average business forward billion and growing in approximately to builder $X.X originating loans. coupons XXXX business, is portfolio that we
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of as York. employees end is New of side, a Rithm approximately in billion billion full-time in equity. year, of here the little under total the $X $XX sheet the Balance currently offices the On XX
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build that which not diluted million diluted work at X. highlights, easiest about or $X.XX team Financial out page $XX.X proud Earnings per share available very $XXX.X GAAP the is to companies, be. done the has or the income, distribution net per place times all million. share. to operating very, of $X.XX these for So
the Our Today Total to $X.X liquidity includes the for dividend $X.XX. equity made billion. and fortress. was $X.X payments That QX. billion. is of Cash the year is at billion. all end That's $X.X
for $XX. share. Total or for XX%. Full year the and value GAAP book XX%, net now, return available income, distribution between Earnings $X.XX on return, equity right equity and growth available million or probably return $X.XX value on GAAP per year Diluted diluted Share. XX%. XX.XX% Book distribution, Earnings we're $XXX $XXX.X something ended at economic million XX% X%, per
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business Caliber past that for was the example, Genesis lines, $X.X in As bought book think a assets rates trying XXXX, bought a I underlying a companies around many call what value acquire acquiring for M&A, towards business, drove real XXXX assets billion. at billion. book and/or years, when with value and we the through see origination XX large-scale down. would do these Capital that, we Everything was through we in for go we lot up side the lines, we go the Caliber, different view is $X.X in business of event including of different the where about in We progressed assets becoming in operators growth to example, value we that
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do XXXX that but think deploy origination, of we able a and to and again. X, this capital, recession, in XXXX enter work little we're opportunities just hard performance credit and repetitive. business for seek I happens The playbook. deploy go into the What to place, is portfolio. his continue ready sure we at the different we capital, investment of make in Servicing us a adjusted puts that. about risk there existing did must be team grow the how good returns, be going to business Rithm as think, Again, very some to that portfolio, our to that the not Page we're to monitor if Baron
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commercial enter be on going higher that deem HPD real to assets then going and/ building side, the the it cap business. unlevered business. Again, And appropriate rates or we opportunistic estate equity we're in yielding XX% when and balance with we'll has Capital our grow about think We on to deploying we're off. or more market the that Adoor, side, single-family Genesis as debt sheet. we business. on the we when leveled HPA think love
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So our in a day a the and office results off their that's shareholders. team experience to every working very put lot up great for of tails good
XX. Mortgage page company overview,
I quarter, any caution to organizations Santoro, of if us, at million sure pre-tax the would our these as in you are Baron apples-to-apples. you around Nick the or look compare For fourth in our income. at happy us -- $XX look look and other What to make sure that. walk everything make through and you at math numbers CFO, everybody, you
on reductions go we Year-over-year down for MSRs that interesting some into recapture as mortgage rates rising, count go as we're entities in we profitability, around business. and potential Unfortunately, customer that are XXXX, us decline that done were other retention, Hopefully, space with Focus and There leads on in in currently XXXX. with very we're forward our G&A, here. opportunities aggressive the XX%. forward. working head
stuff have that That Very, Right we strong the Page business. some business. that the side. $XXX on exit either on or the XX, in assets side currently with of we in-house. we mortgage doesn't very legacy company billion we service now, service parties, servicing our Rithm include have third that
well driven business As you -- sized DTC. margins, We've will recapture sale new gain Big to side our us. the driven can for is real QX, focus be home around in around, sales, then the our extremely going see right and plays retail earnings be on which view, retail on X.XX%. It's organization.
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to to continue grow. that business, We grow not easiest try the business to
measures which which competitive make less lower bit than taken our of the actions. has bit home that little continue able LTVs, be call to more little a team light to I would come take happy some what a credit expectations in these products, prices down of higher-risk may in to Our us to now we're
$XXX Page WACC. the X.X% XX, portfolio, MSR billion, gross
the X.X%. On excess side
a here, we On MSRs. those the cash legacy excess side, flow. sit credit-impaired lot Love are of where
lower with forward. rates we before, go well well expect mortgage pointed extremely I portfolios to we north those As out of as X%, perform
little a A them bit values, took multiple side. we MSR the X.X. is on weighted bit think average fourth that's little We the quarter. conservative a in down
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Servicer advances, here. nothing to talk about
monitor delinquencies cut now, our to see on of to led and/or having effectively underlying unchanged. a years, everything done capacity has job plenty in Should performance space. continue Khanna We team is advances, not that homeowner, we Sanjeev pickup servicer by a the capital material need in year-over-year, markets the only the but over great
not as look really think going like $XX going I We billion to it was much servicer capacity business. you billion the And Just had something of in this, there. to at frame billion. back, there's $XX $XX on or advance
out little some billion we tightened guidelines, and and I under $X.X into go underwriting space business, the before, single-family origination, finally, forward love as Capital good growth And rental coupons, of X,XXX we expect then pointed on a units. the XXXX the up Genesis here love really beyond.
XX% We opportunity of fish leveled will not that rent sea that we've big lease continues think now. on of take, seeing home able – a Current what go levels and I we in now. we rates we at to growth a do re-leased. our would as attractive forward, ton are, And have are so. prices extent cap call, assets main the grow getting give we X%. see We're are small to and we focus when business or around seen off, in re-lease about rates be there And right to
turn for operator So it up with I'll that, to let's back that's and the open the my Q&A, now. wrap right lines.
