Onity Group Inc.

Onity Group Inc. is a financial services company that originates and services forward and reserve mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. Its operations are divided into two segments: Servicing and Originations. The company offers owned mortgage servicing rights and subservicing products. Its portfolio includes conventional, government-insured, and non-agency mortgage loans, as well as reverse mortgage and multi-family loans, and residential forward mortgage and small commercial mortgage loans. Onity also originates and purchases conventional and government-insured residential forward and reverse mortgage loans through correspondent lending arrangements, broker relationships, and retail channels. Additionally, it engages in reinsurance business. The company operates under the PHH Mortgage and Liberty Reverse Mortgage brands.

Onity Group Inc. is listed on the New York Stock Exchange (NYSE) under the ticker symbol ONIT. Its financials are reported in US Dollars (USD), as the company is headquartered in the United States and primarily operates in the US market. The NYSE listing provides liquidity and visibility to investors globally.

Onity Group Inc. operates in the Financial Services sector and is specifically classified under the Mortgage Finance industry. This means the company is primarily involved in providing mortgage-related financial services, including originating and servicing mortgage loans. As a mortgage finance company, Onity focuses on both forward mortgages (traditional home loans) and reverse mortgages (loans for seniors), as well as multi-family and small commercial mortgage loans.

Onity Group Inc. is headquartered in West Palm Beach, Florida, United States. The company serves customers in the United States, the United States Virgin Islands, India, and the Philippines. It was founded in 1988 and was formerly known as Ocwen Financial Corporation before rebranding to Onity Group Inc. in June 2024. The company's geographic reach includes both domestic and international markets, with a focus on mortgage origination and servicing.

Onity Group Inc. generates revenue through its two primary segments: Servicing and Originations. In the Servicing segment, the company earns fees from managing mortgage loans, including owned mortgage servicing rights and subservicing products for third parties. In the Originations segment, it profits from originating and purchasing conventional and government-insured residential forward and reverse mortgage loans through correspondent lending, broker relationships, and retail channels. Additionally, Onity engages in reinsurance business, which provides another revenue stream. The company's portfolio includes a mix of conventional, government-insured, non-agency, reverse, multi-family, and small commercial mortgage loans, diversifying its income sources.