Yes, Rayne has three kinds of dialogue style:
1. When there's quotation mark (") and his sprite appears; He's saying it verbally
2. When there's no quotation mark but his sprite appears; It's a thought in his mind
3. When there's none of both; yeha, it's sort of like a narration that Rayne's doing (more like to give a better explaination without expressing his personality in the sentence)
I hope I help clear something up, and made your reading session more enjoyable :]