reports
Onity Group Announces Multiple Transactions to Accelerate Capital Rest...
Onity Group Announces Multiple Transactions to Accelerate Capital Restructuring WEST PALM BEACH, Fla., Sept. 30, 2024 (GLOBE NEWSWIRE) -- (NYSE: ONIT) (“Onity” or the “Company”), a leading non-bank mortgage servicer and originator, today announced multiple transactions to accelerate its ongoing capital restructuring plans. Oaktree Transactions On September 30, 2024, Onity entered into definitive agreements with funds managed by Oaktree Capital Management, L.P. (“Oaktree”) to amend the agreements between the Company and Oaktree to provide for the following: The Company will sell its 15...
Onity Group Announces Second Quarter 2024 Results
Onity Group Announces Second Quarter 2024 Results Net income of $11 million and diluted earnings per share of $1.33; annualized return on equity of 10%Adjusted pre-tax income of $32 million, driven by servicing segment28% annualized adjusted pre-tax return on equity$19 billion in total servicing additions ($12 billion in subservicing additions)Debt-to-equity ratio of 3.88 to 1Entered into a letter of intent in July for the acquisition of reverse mortgage assets from Waterfall Asset Management WEST PALM BEACH, Fla., Aug. 01, 2024 (GLOBE NEWSWIRE) -- (NYSE: ONIT) (“Onity” or the “Company”...
Onity Group Schedules Conference Call – Second Quarter 2024 Results an...
Onity Group Schedules Conference Call – Second Quarter 2024 Results and Business Update WEST PALM BEACH, Fla., July 24, 2024 (GLOBE NEWSWIRE) -- (NYSE: ONIT) (“Onity” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Thursday, August 1, 2024 at 8:30 a.m. (ET) to review the Company’s second quarter 2024 operating results and provide a business update. All interested parties are welcome to participate. You can access the conference call by dialing (800) 343-4849 or (203) 518-9843 approximately 10 minutes prior to...
Ocwen Financial Officially Rebrands as Onity™ Group
Ocwen Financial Officially Rebrands as Onity™ Group NYSE trading symbol (“ONIT”) expected to be effective market open on June 10, 2024 WEST PALM BEACH, Fla., June 10, 2024 (GLOBE NEWSWIRE) -- (NYSE: ONIT) (“Onity” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that it has officially started operating under its new brand name effective Monday, June 10, 2024, replacing its former name, Ocwen Financial Corporation. The Company’s common stock is expected to begin trading on the New York Stock Exchange under the symbol “ONIT” at market open today. ...
Ocwen Financial Announces Shareholder Approval to Rebrand as Onity™ Gr...
Ocwen Financial Announces Shareholder Approval to Rebrand as Onity™ Group New name and NYSE trading symbol (“ONIT”) expected to be effective June 10, 2024PHH Mortgage expected to rebrand to Onity Mortgage in the fall of 2024 WEST PALM BEACH, Fla., May 28, 2024 (GLOBE NEWSWIRE) -- (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that the Company has obtained the necessary approval from its shareholders to change the name of Ocwen to Onity™ Group Inc. Glen A. Messina, Chair, President and CEO of Ocwen, said, “We are very pleased...
Ocwen Financial Announces First Quarter 2024 Results
Ocwen Financial Announces First Quarter 2024 Results Net income of $30 million and diluted earnings per share of $3.74; annualized return on equity of 29%Adjusted pre-tax income of $14 million, driven by servicing segment; achieved 13.8% annualized adjusted pre-tax return on equityRepurchased $47 million in PHH senior secured notes below par$23 billion in total servicing additions ($19 billion in subservicing additions)Moody’s Ratings upgraded corporate family rating to B3 in April 2024 WEST PALM BEACH, Fla., May 02, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Oc...
Ocwen Financial Schedules Conference Call – First Quarter 2024 Results...
Ocwen Financial Schedules Conference Call – First Quarter 2024 Results and Business Update WEST PALM BEACH, Fla., April 24, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Thursday, May 2, 2024 at 8:30 a.m. (ET) to review the Company’s first quarter 2024 operating results and provide a business update. All interested parties are welcome to participate. You can access the conference call by dialing (800) 343-4849 or (203) 518-9848 approxi...
Ocwen Financial Announces Intention to Rebrand as Onity™ Group
Ocwen Financial Announces Intention to Rebrand as Onity™ Group Name change proposal to be submitted for approval at upcoming Annual Meeting of Shareholders New name embodies the Company’s transformation into a balanced and diversified business Ocwen subsidiary PHH Mortgage expected to rebrand to Onity Mortgage later this year WEST PALM BEACH, Fla., April 03, 2024 (GLOBE NEWSWIRE) -- (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced plans to change its name to Onity Group Inc. The Company will submit a proposal to effect the n...
Ocwen Financial Corporation Announces Appointment of Claudia Merkle to...
Ocwen Financial Corporation Announces Appointment of Claudia Merkle to Board of Directors Phyllis Caldwell Will Not Stand for Re-election at 2024 Annual Meeting of Shareholders WEST PALM BEACH, Fla., April 02, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced the appointment of Claudia J. Merkle to its Board of Directors (“Board”), effective April 1, 2024. “We are very pleased to welcome Claudia to the Ocwen Board,” said Glen A. Messina, Chair, President and CEO of Ocwen. “Cl...
PHH Mortgage Recognized by Fannie Mae as a 2023 Star Performer
PHH Mortgage Recognized by Fannie Mae as a 2023 Star Performer Awarded for the third consecutive year WEST PALM BEACH, Fla., March 11, 2024 (GLOBE NEWSWIRE) -- (“PHH” or the “Company”), a subsidiary of (NYSE: OCN) and a leading non-bank mortgage servicer and originator, today announced the Company achieved Fannie Mae’s 2023 Servicer Total Achievement and Rewards™ (STAR™) Performer recognition. PHH has earned STAR Performer recognition for three consecutive years. STAR Performer recognition is reserved for top performing servicers within one or more of three STAR Performer categories:...
Ocwen Financial Announces Full Year and Fourth Quarter 2023 Results
Ocwen Financial Announces Full Year and Fourth Quarter 2023 Results Net loss of $64 million for 2023, driven by $89 million reduction in unrealized MSR value change due to rates and assumptions, net of hedgeAdjusted pre-tax income of $49 million for 2023, driven by strong servicing performanceAchieved GAAP operating expense reduction over $120 million, or 23%, compared to 2022Total liquidity of $242 million as of December 31, 2023, an increase of 10% over December 31, 2022 WEST PALM BEACH, Fla., Feb. 27, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NY...
Ocwen Financial Schedules Conference Call – Fourth Quarter and Full Ye...
Ocwen Financial Schedules Conference Call – Fourth Quarter and Full Year 2023 Results WEST PALM BEACH, Fla., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Tuesday, February 27, 2024 at 8:30 a.m. (ET) to review the Company’s fourth quarter and full year 2023 operating results. All interested parties are welcome to participate. You can access the conference call by dialing (888) 886-7786 or (416) 764-8658 approximately 10 minute...
PHH Mortgage Announces New Subservicing Agreement With Zillow Home Loa...
PHH Mortgage Announces New Subservicing Agreement With Zillow Home Loans Agreement expands existing correspondent relationship to strategic servicing partner Initial onboarding of loans completed in August 2023 WEST PALM BEACH, Fla., Nov. 13, 2023 (GLOBE NEWSWIRE) -- (“PHH” or the “Company”), a subsidiary of (NYSE: OCN) and a leading non-bank mortgage servicer and originator, today announced that it has entered into a mortgage subservicing agreement with Zillow Home Loans, LLC (“Zillow Home Loans”). Earlier this year, Zillow Home Loans selected PHH Mortgage to provide subservicing fo...
Ocwen Financial Announces Third Quarter 2023 Results
Ocwen Financial Announces Third Quarter 2023 Results Net income of $8 million and earnings per share of $1.10; annualized return on equity of 8%Adjusted pre-tax income of $10 million, driven by servicing segment; achieved 9% annualized adjusted pre-tax return on equityTotal servicing UPB of $296 billion and total subservicing UPB of $167 billion, up 2% and 6%, respectively, compared to Q2’23Repurchased $14 million in PHH senior secured notes below par WEST PALM BEACH, Fla., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Com...
Ocwen Financial Schedules Conference Call – Third Quarter 2023 Results...
Ocwen Financial Schedules Conference Call – Third Quarter 2023 Results and Business Update WEST PALM BEACH, Fla., Nov. 01, 2023 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Tuesday, November 7, 2023 at 8:30 a.m. (ET) to review the Company’s third quarter 2023 operating results and provide a business update. All interested parties are welcome to participate. You can access the conference call by dialing (888) 886-7786 or (416) 764-8658 appr...
Liberty Reverse Mortgage Wins National Association Of Mortgage Brokers...
Liberty Reverse Mortgage Wins National Association Of Mortgage Brokers 2023 Affiliate Of The Year Award WEST PALM BEACH, Fla., Sept. 25, 2023 (GLOBE NEWSWIRE) -- Mortgage (“Liberty” or the “Company”), one of the nation’s largest and most experienced reverse mortgage lenders and the only large-scale, end-to-end reverse mortgage provider, today announced that the (“NAMB”) named Liberty as a 2023 Affiliate Company of the Year. Liberty is part of , a subsidiary of (NYSE: OCN) and a leading non-bank mortgage servicer and originator. Liberty was recognized for excellence as NAMB’s reverse ...
Ocwen Financial Announces Second Quarter 2023 Results
Ocwen Financial Announces Second Quarter 2023 Results Net income of $15 million, an improvement of $56 million from Q1’23Adjusted pre-tax income of $23 million, up $17 million over Q1’23Total liquidity of $233 million as of June 30, 2023, an increase of 6% over December 31, 2022Favorable ruling in legacy CFPB matter stands; case remains closed WEST PALM BEACH, Fla., Aug. 03, 2023 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced its second quarter 2023 results and provided a busines...
Ocwen Financial Schedules Conference Call – Second Quarter 2023 Result...
Ocwen Financial Schedules Conference Call – Second Quarter 2023 Results and Business Update WEST PALM BEACH, Fla., July 27, 2023 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and originator, today announced that it will hold a conference call on Thursday, August 3, 2023 at 8:30 a.m. (ET) to review the Company’s second quarter 2023 operating results and provide a business update. All interested parties are welcome to participate. You can access the conference call by dialing (800) 830-9649 or (213) 992-4624 app...
Ocwen Financial Announces First Quarter 2023 Results
Ocwen Financial Announces First Quarter 2023 Results Net loss of $40 million, driven by a $39 million reduction in unrealized MSR fair value due to lower interest ratesAdjusted pre-tax income of $6 million, driven by strong servicing performanceAchieved an annualized cost reduction of more than $100 million versus Q2’22 baselineTotal liquidity of $233 million as of March 31, 2023, an increase of 7% over December 31, 2022 WEST PALM BEACH, Fla., May 04, 2023 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (NYSE: OCN) (“Ocwen” or the “Company”), a leading non-bank mortgage servicer and orig...
PHH Mortgage Announces New Subservicing Agreement with Finance of Amer...
PHH Mortgage Announces New Subservicing Agreement with Finance of America Reverse WEST PALM BEACH, Fla., May 03, 2023 (GLOBE NEWSWIRE) -- (“PHH” or the “Company”), a subsidiary of Ocwen Financial Corporation (NYSE: OCN) and a leading non-bank mortgage servicer and originator, today announced that it has entered into a reverse mortgage subservicing agreement with (“FAR”). Scott Anderson, Executive Vice President and Chief Servicing Officer at PHH, said, “We are very pleased to enter into this new subservicing relationship with FAR. This agreement is consistent with one of our core busin...
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