Onity Group Announces Strategic Relationship with Finance of America Reverse
Onity Group Inc. (ONIT)
Company Research
Source: GlobeNewswire
PHH Mortgage to sell reverse mortgage assets and enter into subservicing agreement, repositioning its participation in the reverse market Estimated net proceeds to be approximately $100 to $110 million WEST PALM BEACH, Fla., Nov. 18, 2025 (GLOBE NEWSWIRE) -- Onity Group Inc. (NYSE: ONIT) (“Onity” or the “Company”) today announced that its subsidiary, PHH Mortgage Corporation (“PHH”), has entered into a strategic relationship with Finance of America Reverse (“FAR”) to reposition its participation in the reverse mortgage market as a subservicer, asset manager, and reseller of certain FAR products. PHH and FAR have entered into multiple agreements to initiate the relationship. PHH has agreed to sell reverse mortgage servicing rights (“MSRs”) comprised of approximately 40,000 Ginnie Mae home equity conversion mortgage (“HECM”) loans with an unpaid principal balance of $9.6 billion as of September 30, 2025. PHH will become the subservicer for the reverse MSRs sold to FAR under a three
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