Onity Group Inc. won regulatory approval for a revised sale of most of its reverse mortgage servicing rights to Finance of America (FOA), the company said Tuesday. Under the new agreement, Onity will sell MSRs on about 20,000 Home Equity Conversion Mortgages (HECMs) with an unpaid principal balance of $5.1 billion as of March 31. […]
Onity approved to sell reverse MSRs to Finance of America Read More »
An upcoming industry webinar hosted by the National Reverse Mortgage Lenders Association (NRMLA) aims to demystify what happens to a reverse mortgage long after closing, serving as an educational component for loan officers and the seniors they serve. The April 9 webinar, “From Boarding to Maturity: Understanding Reverse Mortgage Servicing Requirements,” will walk loan officers through the
NRMLA webinar to cover reverse servicing and maturity events Read More »
On the back of stronger estimated financial earnings, Onity Group — the parent company of PHH Mortgage Corp. and Liberty Reverse Mortgage — raised $200 million through a debt offering to qualified investors on Monday, exceeding its initial target of $150 million. The offering came amid the release of preliminary fourth-quarter 2025 financial results, with
Onity Group raises $200M in debt, reports strong estimated Q4 earnings Read More »
Onity Group, the parent company of PHH Mortgage Corp. and its reverse mortgage arm, Liberty Reverse Mortgage, announced this week that it has chosen to stop originating reverse mortgages. Instead, Onity said it’s selling almost all of its reverse mortgage business to Finance of America (FOA). PHH is selling reverse mortgage servicing rights (MSRs) for
FOA maps next steps after PHH reverse asset acquisition Read More »
Onity Group — the parent company of PHH Mortgage Corp. and its reverse mortgage arm, Liberty Reverse Mortgage — announced on Tuesday that the company has entered into a “strategic relationship” with Finance of America (FOA) to sell $9.6 billion in mortgage servicing rights (MSRs), among other agreements. A press release said that PHH/Liberty will
PHH Mortgage will halt reverse originations, sell MSRs to Finance of America Read More »
Rithm Capital will no longer use Onity Group’s servicing subsidiary, PHH Mortgage Corp., as the subservicer of a $33 billion portfolio primarily composed of pre-2008 loans — ending an agreement that has lasted nearly a decade. Onity, which released its third-quarter earnings on Thursday, said it was notified by Rithm on Oct. 31 of its
Rithm ends $33B subservicing deal with Onity Read More »
The publicly traded companies in the reverse mortgage space were largely profitable in the second quarter of 2025, despite a challenging macroeconomic backdrop. As a group, they posted $1.2 billion in originations in Q2 2025, compared to $1 billion in the first quarter. Executives pointed to stronger demand for home equity products among seniors, as
Reverse mortgage lenders log Q2 profits amid home equity, AI push Read More »
The knowledge and use of artificial intelligence (AI) among older generations is often misunderstood and mischaracterized. But seniors are often following the path of the wider population when it comes to incorporating AI into their daily lives. Recent survey data published by the University of Michigan found that 55% of respondents in the 50-and-older age
As seniors gain comfort with AI, how should reverse mortgage lenders respond? Read More »
The broader mortgage industry and the reverse mortgage subset have worked through a period of elevated interest rates for longer than anyone may have been expecting. Following a post-pandemic boom in volume fueled by Home Equity Conversion Mortgage (HECM) refinances, higher rates have served to restrict HECM volume, according to industry professionals and analysts. In
The proprietary reverse mortgage landscape is getting crowded Read More »
Mike Kent is a busy man. He’s been a key figure at Onity Group’s Liberty Reverse Mortgage for most of the past decade. He’s also served as co-chair of the National Reverse Mortgage Lenders Association (NRMLA) since 2019, and he now serves as senior vice president of reverse asset management and industry relations for Liberty
Liberty’s Mike Kent talks relaunch of EquityIQ proprietary reverse mortgage Read More »