Onity Group Inc - Company Profile
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Business Description
Onity Group Inc (Onity), formerly Ocwen Financial Corp is a financial services company that specializes in servicing forward and reverse mortgage loans. The company operates primarily through its brands, PHH Mortgage and Liberty Reverse Mortgage.
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Business Segments
Overview
Comprises revenues and expenses of CR Limited, a captive reinsurance subsidiary, corporate support services, discontinued operations, inactive entities, and other business activities.
Performance
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Overview
Originates and purchases conventional and government-insured residential forward and reverse mortgage loans primarily through broker relationships, correspondent lending arrangements, and directly with mortgage customers. loans are sold shortly after origination into a liquid market on a servicing released to servicing retained basis.
Performance
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Overview
Contains core residential mortgage servicing business. Offers residential and commercial mortgage loans servicing, asset management services, and special servicing. Earns fees for offering these services to owners of the mortgage loans and foreclosed real estate. Residential servicing portfolio comprises conventional, government-insured, and non-Agency loans. Non-Agency loans contain subprime loans.
Performance
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