ONIT Profile
Onity Group Inc., a distinguished financial services entity, specializes in the origination and comprehensive servicing of mortgage loans across a diverse geographic footprint encompassing the United States, the United States Virgin Islands, India, and the Philippines. The company operates through distinct segments: Servicing and Originations, each playing a crucial role in its multifaceted business operations.
Within its Servicing segment, Onity Group Inc. offers a spectrum of services including commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management. This entails providing vital support to mortgage loan owners and managing foreclosed real estate, alongside residential mortgage servicing that covers a range of conventional, government-insured, and non-agency loans, including specialized reverse mortgage products.
In its Originations segment, the company excels in originating and acquiring both conventional and government-insured residential mortgage loans. This is achieved through strategic correspondent lending arrangements, broker relationships, and direct engagement via retail channels. Onity Group Inc.'s proactive approach to loan origination ensures it meets diverse borrower needs while maintaining robust underwriting standards and compliance.
Catering primarily under renowned brands such as PHH Mortgage and Liberty Reverse Mortgage, Onity Group Inc. leverages decades of industry expertise and a strong market presence to deliver exceptional financial solutions. Originally founded in 1988 and headquartered in West Palm Beach, Florida, the company underwent a transformative rebranding in June 2024 from its former identity as Ocwen Financial Corporation. This strategic evolution underscores Onity Group Inc.'s commitment to innovation, customer satisfaction, and sustained growth in the dynamic landscape of mortgage banking.
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