Onity Group Inc Stock Price, News & Analysis

PHH Mortgage, a subsidiary of Onity Group Inc. (NYSE: ONIT), has received significant upgrades to its residential servicing ratings from Fitch Ratings, with a Stable Rating Outlook. The upgrades include improvements in Prime, Subprime, and Alt-A products to 'RPS2-' from previous lower ratings, along with upgrades in Special servicing and Closed-End Second Lien/HELOC products. The company's commercial small balance and residential master servicing ratings were affirmed. The upgrades reflect PHH's balanced business strategy, operational discipline, and growth across multiple channels. Key factors driving the ratings include the company's diversification between Originations and Servicing, recognition by major housing agencies, enhanced technology implementation, risk management framework, and experienced management team.

Onity Group (NYSE: ONIT) has announced its executive management team's participation in two upcoming investor conferences in May 2025. Glen Messina, Chair, President and CEO, and Sean O'Neil, EVP and CFO, will attend the BTIG 5th Annual Housing Ecosystem Conference on May 7, 2025, and the KBW Real Estate Finance & Technology Conference on May 20, 2025 (virtual). An investor presentation will be available on the company's shareholder relations page at onitygroup.com before each conference date.

Onity Group reported strong Q1 2025 financial results with net income of $21 million and diluted EPS of $2.50. The company achieved a 19% ROE and improved book value per share to $58, marking a $2.15 increase year-over-year.

Key highlights include $17 billion in total servicing additions and average servicing UPB of $305 billion. Originations volume reached $7 billion, up 53% year-over-year, outpacing industry growth of 8%. The company's funded recapture volume increased 2.7x year-over-year.

CEO Glen Messina confirmed 2025 guidance with adjusted ROE range of 16-18%. The company maintains strong liquidity of $239 million and expects potential release of $180 million in deferred tax valuation allowance by year-end 2025.

Onity Group (NYSE: ONIT) has scheduled a conference call for Wednesday, April 30, 2025, at 8:30 a.m. ET to discuss their first quarter 2025 financial results and provide a business update.

Participants can join via phone by dialing (800) 579-2543 or (785) 424-1789, referencing 'Onity,' or through a live audio webcast available on the company's Shareholder Relations page. An investor presentation will be accessible on the website before the call.

A replay will be available on the website approximately two hours after the call, with a telephonic replay accessible until May 14, 2025, by dialing (844) 512-2921 or (412) 317-6671 with access code 11158988.

PHH Mortgage, a subsidiary of Onity Group Inc. (NYSE: ONIT), has launched EquityIQ®, a proprietary reverse mortgage product. This new offering targets homeowners aged 55 and above, providing a fixed-rate loan with a maximum amount of $4 million.

The product features include no upfront or ongoing mortgage insurance, no monthly servicing fees, and requires a full draw of available proceeds at closing. EquityIQ® complements PHH's existing Home Equity Conversion Mortgage (HECM) product line and will be available through the company's wholesale network under the Liberty Reverse Mortgage brand.

With an estimated $14 trillion in senior home equity, the product aims to help senior homeowners access their home equity for personal and financial needs. Eligible properties include single-family homes, condominiums, townhomes, multi-family properties (2-4 units), and planned unit developments.

Onity Group (NYSE: ONIT) has announced its participation in the upcoming Sidoti March Virtual Investor Conference, scheduled for March 19-20, 2025. Glen Messina, Chair, President and CEO, and Sean O'Neil, Executive VP and CFO, will lead the company's presentation on March 20 at 3:15 p.m. Eastern Time.

The company will also conduct one-on-one virtual meetings with investors on March 20. The event is open to all interested parties, with free registration available through Sidoti's website. An investor presentation will be accessible on Onity's shareholder relations page before the presentation date.

PHH Mortgage, a subsidiary of Onity Group Inc. (NYSE: ONIT), has received the Fannie Mae STAR Performer recognition in the General Servicing category for 2024, marking their fourth consecutive year of achievement. The award evaluates servicers on metrics including General Servicing, Solution Delivery, and Timeline Management.

As of December 31, 2024, PHH managed approximately 1.4 million loans with a total unpaid principal balance exceeding $300 billion on behalf of about 4,000 investors and 125 subservicing clients. The company's servicing portfolio encompasses forward, reverse, business purpose residential, and small-balance commercial mortgages.

Onity Group (NYSE: ONIT) reported strong financial results for 2024, achieving its highest net income since 2013 at $33 million, with diluted EPS of $4.13 and ROE of 8%. The company's adjusted pre-tax income reached $90 million, resulting in adjusted ROE of 20%.

Key highlights include: total servicing additions of $86 billion, book value per share increase of $4 to $56, and corporate debt reduction of $145 million. The fourth quarter saw a net loss of $29 million due to $41 million in debt restructuring charges.

Operational achievements include: originations volume of $30 billion in 2024 (up 33% from 2023), total servicing UPB of $302 billion (up $13 billion YoY), and maintained total liquidity at $248 million. For 2025, the company increased its adjusted ROE guidance to 16-18%.

Onity Group (NYSE: ONIT) has announced a conference call scheduled for Thursday, February 13, 2025, at 8:30 a.m. ET to discuss their fourth quarter and full-year 2024 operating results.

Participants can join via phone by dialing (800) 274-8461 or (203) 518-9814, referencing 'Onity,' or through a live audio webcast available on the company's Shareholder Relations webpage. An investor presentation will be accessible on the website before the call.

A replay will be available on the website approximately two hours after the call ends, with a telephonic replay accessible until February 27, 2025, by dialing (844) 512-2921 or (412) 317-6671 with access code 11157783.