Onity Group Inc. ONIT

Company Overview

Onity Group Inc. (NYSE: ONIT), formerly known as Ocwen Financial Corporation, is a U.S.-based financial services company focused primarily on mortgage servicing, origination, and related housing finance solutions. The company operates in the residential mortgage industry and generates the majority of its revenue through mortgage servicing rights (MSRs), loan servicing fees, originations, and ancillary servicing activities. Onity serves borrowers, institutional investors, and mortgage market participants through a platform centered on servicing both performing and non-performing residential mortgage loans.

The company’s principal operating businesses include PHH Mortgage Corporation and Liberty Reverse Mortgage. PHH Mortgage provides servicing and origination capabilities across conventional, government-insured, and reverse mortgage products, while Liberty Reverse Mortgage focuses on Home Equity Conversion Mortgage (HECM) products for senior borrowers. Onity evolved from a specialty mortgage servicer established in the late 1980s into a broader housing finance platform through acquisitions, restructurings, and servicing portfolio expansion. The company rebranded from Ocwen Financial to Onity Group in 2024 to reflect a broader strategic positioning beyond legacy servicing operations.