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Ocwen Financial (OCN) - 2025 Q2 - Quarterly Report
2025-08-05 20:31
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ____________________ to ____________________ Commission File No. 1-13219 Onity Group Inc. (Exact name of registrant as specified in its charter) | Florida | | ...
Ocwen Financial (OCN) - 2025 Q2 - Quarterly Results
2025-08-05 10:45
Exhibit 99.1 Onity Group Inc. ONITY GROUP ANNOUNCES SECOND QUARTER 2025 RESULTS West Palm Beach, FL – (August 5, 2025) – Onity Group Inc. (NYSE: ONIT) ("Onity" or the "Company") today announced its second quarter 2025 results and provided a business update. Second Quarter 2025: 2025 Outlook: "We reported another strong quarter with sustained profitability and steady growth, demonstrating the resilience of our business model, sound strategy and high-caliber execution," said Onity Group Chair, President and C ...
Ocwen Financial (OCN) - 2025 Q1 - Quarterly Report
2025-04-30 20:27
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ____________________ to ____________________ Commission File No. 1-13219 Onity Group Inc. (Exact name of registrant as specified in its charter) Florida 65-0 ...
Ocwen Financial (OCN) - 2025 Q1 - Quarterly Results
2025-04-30 10:45
Exhibit 99.1 Onity Group Inc. ONITY GROUP ANNOUNCES FIRST QUARTER 2025 RESULTS West Palm Beach, FL – (April 30, 2025) – Onity Group Inc. (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 ...
Ocwen Financial (OCN) - 2024 Q4 - Annual Report
2025-02-21 21:23
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the fiscal year ended December 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ____________________ to ____________________ Commission File No. 1-13219 Onity Group Inc. (Exact name of registrant as specified in its charter) FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | Florida | | 65-0039856 | | -- ...
Ocwen Financial (OCN) - 2024 Q4 - Annual Results
2025-02-13 11:45
Financial Performance - Full-year 2024 net income attributable to common stockholders reached $33 million, the highest since 2013, with diluted EPS of $4.13 and ROE of 8%[5] - Reported net income for FY'24 was $34 million, a significant improvement from a net loss of $64 million in FY'23[19] - Adjusted pre-tax income for FY'24 increased to $90 million, compared to $49 million in FY'23[21] - Total revenue for FY'24 was $976 million, down from $1,066.7 million in FY'23, primarily due to a decrease in servicing and subservicing fees[23] - Adjusted return on equity (ROE) for FY'24 was 20%, up from 10% in FY'23[21] Servicing and Originations - Total servicing additions for 2024 amounted to $86 billion, including $47 billion in subservicing additions[5] - Funded recapture volume for full-year 2024 increased 2.5 times compared to 2023, with fourth quarter 2024 up 4.2 times over fourth quarter 2023[9] - Originations volume for 2024 was $30 billion, a 33% increase compared to 2023, with fourth quarter volume at $10 billion, up 72% year-over-year[9] - Total servicing UPB reached $302 billion at December 31, 2024, an increase of $13 billion from the previous year[9] Assets and Liabilities - Total assets increased to $16,435.4 million in FY'24, compared to $12,513.7 million in FY'23[22] - Corporate debt was reduced by $145 million, resulting in a debt-to-equity ratio of 2.96 to 1[5] - Cash and cash equivalents decreased to $184.8 million in FY'24 from $201.6 million in FY'23[22] Operational Metrics - Adjusted pre-tax income for 2024 was $90 million, resulting in an adjusted ROE of 20%[5] - Operating expenses for FY'24 totaled $436.5 million, an increase from $412.1 million in FY'23[23] - Mortgage servicing rights (MSRs) at fair value rose to $2,466.3 million in FY'24, up from $2,272.2 million in FY'23[22] Recognition and Outlook - The company achieved HUD Tier 1 servicer rating for the fourth consecutive year and was recognized by the 2024 Freddie Mac SHARP program for subservicing[9] - The 2025 outlook includes increased adjusted ROE guidance to 16% - 18%[4] - The company reported a gain on the sale of MAV canopy amounting to $14 million[19] - The company experienced significant legal and regulatory settlement expenses of $8 million in FY'24, compared to a gain of $21 million in FY'23[19] Shareholder Value - Book value per share improved by $4 year-over-year to $56 as of December 31, 2024[5]
Ocwen Financial (OCN) - 2024 Q3 - Quarterly Report
2024-11-07 13:28
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from: ____________________ to ____________________ Commission File No. 1-13219 Onity Group Inc. (Exact name of registrant as specified in its charter) Florida ...
Ocwen Financial Officially Rebrands as Onity™ Group
Newsfilter· 2024-06-10 10:45
Core Viewpoint - Onity Group Inc. has officially rebranded from Ocwen Financial Corporation, marking a significant transformation and growth for the company, which aims to reflect its commitment to delivering results and success for its customers and stakeholders [2][7][4]. Company Overview - Onity Group Inc. is a leading non-bank mortgage servicer and originator, operating under the new ticker symbol "ONIT" on the New York Stock Exchange [3][11]. - The company provides solutions through its primary brands, PHH Mortgage Corporation and Liberty Reverse Mortgage, with a strong servicing platform and technology-enabled global operations [4][11]. Rebranding Details - The rebranding includes a new name, tagline "we get it done," and a vibrant visual identity that emphasizes action and commitment [2]. - The primary brands, PHH Mortgage Corporation and Liberty Reverse Mortgage, are expected to transition to Onity Mortgage in the fall of 2024 [8].
Ocwen Financial Announces Shareholder Approval to Rebrand as Onity™ Group
globenewswire.com· 2024-05-28 20:15
New name and NYSE trading symbol ("ONIT") expected to be effective June 10, 2024 PHH Mortgage expected to rebrand to Onity Mortgage in the fall of 2024 WEST PALM BEACH, Fla., May 28, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (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 o ...
Ocwen Financial Announces Shareholder Approval to Rebrand as Onity™ Group
Newsfilter· 2024-05-28 20:15
New name and NYSE trading symbol ("ONIT") expected to be effective June 10, 2024 PHH Mortgage expected to rebrand to Onity Mortgage in the fall of 2024 WEST PALM BEACH, Fla., May 28, 2024 (GLOBE NEWSWIRE) -- Ocwen Financial Corporation (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 o ...