PHH Mortgage to rebrand as Onity Mortgage

ONITY GROUP INC. (ONIT) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.1 2 ex99-1.htm EX-99.1 Exhibit 99.1 Onity Group Inc. ONITY GROUP ANNOUNCES SECOND QUARTER 2026 RESULTS Record origination volume and significant subservicing additions driving double-digit revenue and servicing growth Strategically repositioned the business through reverse

Finance of America (FOA) completed its deal to acquire Onity reverse mortgage assets, with Onity Mortgage retained as subservicer under a three-year agreement. FOA said the transaction supports its growth strategy. HECMWorld/Reverse Market Insight data cited FOA at ~23.3% market share and ~2,500 HECM endorsements in Jan–Jun 2026.

BTIG downgraded Rocket, Fannie Mae and Freddie Mac to neutral from buy in Doug Harter’s second-half outlook, citing a tougher-than-expected rate environment and reduced visibility on “normalized” earnings. For Fannie/Freddie, BTIG said uncertainty around conservatorship timing limits near-term upside; it valued Fannie at $26 and Freddie at $32 in a positive case, but $4 each if preferreds convert to common. BTIG kept UWM at buy but cut its price target to $4 from $10 amid leverage/dividend conce

Onity Group said it received key approval from Ginnie Mae for a reverse mortgage transaction with Finance of America after reducing the amount of mortgage servicing rights to be sold. The company said the change, discussed on its earnings call, moves it closer to exiting reverse mortgage originations while keeping a subservicing role. Onity also authorized up to $20 million in share buybacks through June next year.

Onity received approval to sell reverse MSRs to Finance of America (FAR), the companies said. Ginnie Mae did not approve the original terms, they added. New View data show FOA and Onity account for ~48% of HMBS by unpaid principal balance; FOA has ~$18.1B (32.2%) and Onity ~$8.9B (15.9%). The deal covers ~57% of Onity’s reverse servicing portfolio and ~77% of its reverse MSR investment; ~70% of remaining servicing is expected to run off in four years. Onity also authorized a $20M share repurchas

Onity Group said it received regulatory approval to sell its reverse mortgage servicing portfolio and certain reverse originations assets to Finance of America Reverse LLC. The deal covers about 20,000 Ginnie Mae HELOC loans with $5.1 billion unpaid principal balance as of March 31, 2026; Onity will subservice for three years. Net proceeds are expected at $70–$80 million. The board also authorized a $20 million share repurchase program.