WEST PALM BEACH, Fla., March 09, 2026 (GLOBE NEWSWIRE) -- Onity Group Inc. (NYSE: ONIT) (“Onity” or the “Company”) today announced that it expects to rebrand and formally change the name of its subsidiary, PHH Mortgage Corporation (“PHH Mortgage”), to Onity Mortgage Corporation (“Onity Mortgage”) effective March 23, 2026.

Glen A. Messina, Chair, President and CEO of Onity Group, said, “We are excited for this next phase of our rebranding effort, further expanding and strengthening the Onity brand across the mortgage industry. The continuation of our Onity rebranding represents our multi-year transformation to grow and expand our business. I am proud of how far we have come. Today we are a top 10 non-bank mortgage servicer with a balanced and diversified business, servicing loans for 1.4 million consumers on behalf of more than 3,000 investors and over 100 subservicing clients. We have invested in people and technology to build an industry best-in-class servicing platform and broad originations capabilities.”

The Company’s rebrand coincides with a series of strategic initiatives and advancements it has made to firmly position its mortgage subsidiary as a customer-focused, technology-enabled leader within the mortgage industry. As discussed in its most recent earnings report, Onity has:

• Delivered record originations volume and strong recapture performance in 2025
• Increased its total servicing portfolio year over year, including owned MSR growth, new subservicing client signings, and the expansion of commercial servicing
• Expanded its use of AI-enabled technologies to grow, enhance productivity and drive service excellence
• Launched new products and services to expand growth opportunities and enhance the customer experience
• In the fourth quarter, announced plans to reposition its reverse mortgage business to simplify operations and pursue higher value growth opportunities
  

“Onity, inspired by our mantra ’we’re on it,’ is a brand built around the customer with the promise of dependability, performance and support,” Messina added. “It represents our commitment to creating success for our customers, clients and partners every step of the way.”

The rebrand to Onity Mortgage will leverage the current Onity logo and visual identity, creating a consistent and unified brand across the Company. Concurrent with the brand launch, Onity Mortgage will introduce redesigned websites and enhanced communications programs for clients and consumers.

The Company completed the first phase of its rebranding plans on June 10, 2024, when Ocwen Financial Corporation formally changed its name to Onity Group Inc. and began trading on the New York Stock Exchange under the symbol “ONIT.”

About Onity Group

Onity Group Inc. (NYSE: ONIT) is a leading non-bank financial services company providing mortgage servicing and originations solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to consumers and business clients. Liberty is one of the nation’s largest reverse mortgage lenders dedicated to providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices and operations in the United States, the U.S. Virgin Islands, India and the Philippines, and have been serving our customers since 1988. For additional information, please visit onitygroup.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by a reference to a future period or by the use of forward-looking terminology such as “look forward to” and references to goals, strategies, and agendas, although not all forward-looking statements contain these words. Forward-looking statements in this press release include statements relating to the expected timing and potential impacts of our rebranding.

Forward-looking statements involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, changes in market conditions, the industry in which Onity operates, and its business, the actions of governmental entities and regulators, developments in litigation matters, and other risks and uncertainties detailed in Onity’s reports and filings with the SEC, including its annual report on Form 10-K for the year ended December 31, 2025. Anyone wishing to understand Onity Group Inc.’s business should review its SEC filings. Onity’s forward-looking statements speak only as of the date they are made and Onity disclaims any obligation to update or revise forward-looking statements whether as a result of new information, future events or otherwise.

For Further Information Contact:

Dico Akseraylian, SVP, Corporate Communications
(856) 917-0066
mediarelations@onitygroup.com