PHH Mortgage Receives 2024 Fannie Mae Star Performer Award for Servicing Excellence

Rhea-AI Summary

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.

Positive

• Received prestigious Fannie Mae STAR Performer recognition for 4th consecutive year
• Services 1.4M loans worth over $300B
• Large client base of 4,000 investors and 125 subservicing clients
• Diverse mortgage servicing portfolio including forward, reverse, and commercial loans

Negative

• None.

Recognized for the fourth consecutive year

WEST PALM BEACH, Fla., March 06, 2025 (GLOBE NEWSWIRE) -- PHH Mortgage (“PHH” or the “Company”), a subsidiary of Onity Group Inc. (NYSE: ONIT) and a leading non-bank mortgage servicer and originator, today announced the Company achieved Fannie Mae’s 2024 Servicer Total Achievement and Rewards™ (STAR™) Performer recognition in the General Servicing category. PHH has earned STAR Performer recognition for four consecutive years.

“We are honored to be recognized again by Fannie Mae for excellence in mortgage servicing, and we want to thank our team for their hard work and dedication toward maintaining superior operational performance and creating positive outcomes for our customers,” said Scott Anderson, Executive Vice President and Chief Servicing Officer of PHH Mortgage. “We have built a servicing platform that delivers industry-leading performance, supported by an experienced team with a customer-first focus and innovative technology solutions. We are proud of the work we do for our customers, clients, investors and the housing industry, and we look forward to continuing to deliver on our commitments to all those we serve.”

STAR Performer recognition is reserved for top performing servicers. For 2024, STAR Program participants are measured on the basis of their performance managing General Servicing (Transition to 60+ and Investor Reporting Score), Solution Delivery (60+ to Cure, Retention Efficiency, Liquidation Efficiency, and Six-Month Modification Performance), and Timeline Management (Transition to Beyond Time Frame). Each servicer’s performance in these metrics is compared against the performance of other Fannie Mae loans with similar credit characteristics.

PHH serviced or subserviced approximately 1.4 million loans with a total unpaid principal balance of more than $300 billion on behalf of approximately 4,000 investors and 125 subservicing clients as of December 31, 2024. The Company’s extensive servicing capability includes forward, reverse, business purpose residential and small-balance commercial mortgages.

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.

For Further Information Contact:

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

FAQ

What achievement did PHH Mortgage receive from Fannie Mae in 2024?

PHH Mortgage received Fannie Mae's 2024 STAR Performer recognition in the General Servicing category, marking their fourth consecutive year winning this award.

How many loans does PHH Mortgage (ONIT) service as of December 2024?

As of December 31, 2024, PHH Mortgage services approximately 1.4 million loans with a total unpaid principal balance exceeding $300 billion.

What criteria are evaluated for Fannie Mae's 2024 STAR Program?

The 2024 STAR Program evaluates servicers on General Servicing, Solution Delivery, and Timeline Management metrics, comparing performance against similar Fannie Mae loans.

How many investors and subservicing clients does PHH Mortgage (ONIT) serve?

PHH Mortgage serves approximately 4,000 investors and 125 subservicing clients as of December 31, 2024.