2022 was incredibly difficult for companies in the mortgage space. Mortgage originators struggled as the Federal Reserve raised interest rates in order to combat outsized inflation. Those rising rates helped drive origination volumes down to about half of 2021 levels.

Mortgage real estate investment trusts (REITs) also struggled as their portfolios underperformed their interest rate hedges, causing declines in book value per share. Mortgage companies that had servicing assets performed best. Rithm Capital (NYSE: RITM) is a mortgage REIT that operates a number of businesses, and it is branching out beyond traditional mortgage lending. 

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Source Fool.com