Ocwen Financial Corporation
New York Stock ExchangeCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Glen A. Messina
- Full Time Employees
- 4,400
- Sector
- Financial Services
- Industry
- Financial - Mortgages
- Address
- 1661 Worthington Road West Palm Beach FL United States of America 33409
- IPO Date
- Sep 25, 1996
- CIK
- 0000873860
- Website
- ocwen.com
- Similar Companies
- Business
- Onity Group Inc. (NYSE: ONIT), formerly Ocwen Financial Corporation, is a leading non-bank mortgage servicer and originator that provides residential and commercial mortgage loan servicing, special servicing, asset management, loan origination, and subservicing solutions to homeowners, clients, investors, and others through its primary operating subsidiary PHH Mortgage Corporation (recently rebranded as Onity Mortgage) and Liberty Reverse Mortgage brand; core services include customer service, collections, investor accounting, escrow administration, loss mitigation, foreclosure processing, insurance claims management, and servicing advances for delinquent, bankrupt, or foreclosed loans, with origination focused on forward and reverse mortgage loans such as conforming Agency loans, government-insured FHA/VA products, and reverse mortgages sold to agencies or securitized on a servicing-retained basis. Founded in 1988 and headquartered in West Palm Beach, Florida, the company operates primarily in the United States with additional offices in locations such as Mount Laurel, New Jersey; Rancho Cordova, California; Atlanta, Georgia; and global support operations in India, the Philippines, and Uruguay. In a major rebranding effective June 10, 2024, following shareholder approval, Ocwen Financial changed its name to Onity Group Inc. and ticker to ONIT, with PHH Mortgage rebranded to Onity Mortgage in October 2024 and plans for Liberty Reverse Mortgage alignment; recent strategic moves include renewing subservicing agreements with Rithm Capital Corp. through February 2025, selling its 15% stake in MSR Asset Vehicle LLC to Oaktree Capital Management for $49 million, extending the Oaktree investment period through May 2025, and announcing in November 2025 the sale of reverse mortgage servicing assets and pipeline from PHH Mortgage to Finance of America for approximately $100 million (expected to close in Q1 2026) while entering a subservicing agreement to refocus on forward originations, recapture, commercial, and reverse subservicing growth.
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