OW0A Ocwen Financial Corporation

PHH Mortgage Receives Residential Servicing Ratings Upgrade from Fitch Ratings

PHH Mortgage Receives Residential Servicing Ratings Upgrade from Fitch Ratings

WEST PALM BEACH, Fla., June 04, 2025 (GLOBE NEWSWIRE) -- (“PHH” or the “Company”), a subsidiary of (NYSE: ONIT) and a leading non-bank mortgage servicer and originator, today announced that Fitch Ratings has upgraded its residential primary servicer ratings and indicated a Stable Rating Outlook.

Fitch’s most recent ratings upgrades, which are generally considered Above Average, include:

  • Prime product upgraded to ‘RPS2-’ from ‘RPS3+’
  • Subprime product upgraded to ‘RPS2-’ from ‘RPS3+’
  • Alt-A product upgraded to ‘RPS2-’ from ‘RPS3’
  • Special servicing upgraded to ‘RSS2-’ from ‘RSS3’
  • Closed-End Second Lien and HELOC products upgraded to ‘RPS3+’ from ‘RPS3’



In addition, Fitch affirmed the Company’s commercial small balance primary and special servicer ratings at ‘SBPS2-’ and ‘SBSS2-’, respectively, and residential master servicing rating at ‘RMS3’.

“The ratings upgrade from Fitch reflects the strength of our balanced and diversified business and our commitment to operational and financial discipline while driving growth across multiple channels,” said Scott Anderson, Executive Vice President and Chief Servicing Officer. “We are extremely proud of the industry top-tier servicing platform we have built and our experienced team that is dedicated to creating positive outcomes for our customers. As the mortgage market and consumer needs evolve, we continue to make purposeful investments to elevate the customer experience and implement innovative technology solutions for the benefit of our customers, clients, investors and employees.”

Key drivers of PHH’s upgraded and affirmed ratings and Stable Outlook:

  • Reflect the Company’s growth strategy and diversification between Originations and Servicing businesses
  • Industry recognition for servicing excellence by Fannie Mae STARTM and Freddie Mac SHARPSM programs, and rated a Tier 1 servicer by HUD
  • Acceleration of the Company’s growth strategy through increased MSR retention, expanded product offerings, and improved recapture rates in its Consumer Direct channel
  • Utilization of enhanced technology for increased customer engagement and personalized services
  • Multi-layered enterprise risk management framework with a three lines of defense approach
  • Highly tenured management team

For more information on Fitch’s ratings announcement, please read .

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 .

For Further Information Contact:

Investors:

Valerie Haertel, VP, Investor Relations

(561) 570-2969

Media:

Dico Akseraylian, SVP, Corporate Communications

(856) 917-0066



EN
04/06/2025

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Ocwen Financial Corporation

 PRESS RELEASE

PHH Mortgage Receives Residential Servicing Ratings Upgrade from Fitch...

PHH Mortgage Receives Residential Servicing Ratings Upgrade from Fitch Ratings WEST PALM BEACH, Fla., June 04, 2025 (GLOBE NEWSWIRE) -- (“PHH” or the “Company”), a subsidiary of (NYSE: ONIT) and a leading non-bank mortgage servicer and originator, today announced that Fitch Ratings has upgraded its residential primary servicer ratings and indicated a Stable Rating Outlook. Fitch’s most recent ratings upgrades, which are generally considered Above Average, include: Prime product upgraded to ‘RPS2-’ from ‘RPS3+’Subprime product upgraded to ‘RPS2-’ from ‘RPS3+’Alt-A product upgraded to ‘...

 PRESS RELEASE

Onity Group to Present at Upcoming Investor Conferences

Onity Group to Present at Upcoming Investor Conferences WEST PALM BEACH, Fla., May 05, 2025 (GLOBE NEWSWIRE) -- (NYSE: ONIT) (“Onity” or the “Company”) today announced that executive management will participate in two upcoming conferences in May 2025. Glen Messina, Chair, President and Chief Executive Officer, and Sean O’Neil, Executive Vice President and Chief Financial Officer, will meet with investors at the following conferences: BTIG 5th Annual Housing Ecosystem ConferenceDate: Wednesday, May 7, 2025For more information, please contact . Please note participants must be pre-regist...

 PRESS RELEASE

Onity Group Announces First Quarter 2025 Results

Onity Group Announces First Quarter 2025 Results WEST PALM BEACH, Fla., April 30, 2025 (GLOBE NEWSWIRE) -- (NYSE: ONIT) (“Onity” or the “Company”) today announced its first quarter 2025 results and provided a business update. First Quarter 2025: Net income attributable to common stockholders of $21 million; diluted EPS of $2.50; ROE of 19%Adjusted pre-tax income* of $25 million, resulting in annualized adjusted ROE* of 22%Book value per share improved to $58 as of March 31, 2025, up $2.15 year-over-year$17 billion in total servicing additionsAverage servicing UPB of $305 billion, up $1...

 PRESS RELEASE

Onity Group Schedules Conference Call – First Quarter 2025 Results and...

Onity Group Schedules Conference Call – First Quarter 2025 Results and Business Update WEST PALM BEACH, Fla., April 23, 2025 (GLOBE NEWSWIRE) -- (NYSE: ONIT) (“Onity” or the “Company”) today announced that it will hold a conference call on Wednesday, April 30, 2025 at 8:30 a.m. (ET) to review the Company’s first quarter 2025 operating results and provide a business update. All interested parties are welcome to participate. You can access the conference call by dialing (800) 579-2543 or (785) 424-1789 approximately 10 minutes prior to the call; please reference the conference ID “Oni...

 PRESS RELEASE

PHH Mortgage Launches Proprietary Reverse Mortgage Product

PHH Mortgage Launches Proprietary Reverse Mortgage Product WEST PALM BEACH, Fla., April 22, 2025 (GLOBE NEWSWIRE) -- (“PHH” or the “Company”), a subsidiary of (NYSE: ONIT) and a leading non-bank mortgage servicer and originator, today announced that the Company has launched a proprietary reverse mortgage product known as EquityIQ®. The product will be available through the Company’s wholesale network and marketed under PHH’s reverse mortgage product brand, Liberty Reverse Mortgage. “For more than two decades, we've leveraged our reverse mortgage expertise to help our partners a...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch