Onity Group Inc. (ONIT) Presents at Bank of America Leveraged Finance Conference Transcript

Company Overview - The company operates as a nonbank mortgage servicer and originator, managing both its own mortgage servicing rights (MSRs) and providing subservicing for others [2][3] - The distinction between owning MSRs and subservicing is highlighted, with owned MSRs being higher risk and requiring hedging and financing, while subservicing does not involve these risks [2] Business Model - The company benefits from both servicing its own MSRs and subservicing for others, with the latter potentially yielding higher fees for managing delinquent loans, although it represents a thinner revenue stream [3] - The servicing operations are indifferent to the ownership of the MSRs, allowing for streamlined management of all loans [3] Types of Loans Managed - The company services a variety of loan types, including forward loans, reverse loans, conventional loans, government loans (GSEs), and private label securitizations (PLS) [3] - Additionally, the company engages in small balance commercial and multifamily loan servicing [3]