Phh Completes Its Rebranding Journey To Onity Mortgage

Florida-based Onity Group announced that mortgage subsidiary PHH Mortgage Corp. has rebranded as Onity Mortgage, a move that was anticipated and became effective Monday.

“Today marks another important milestone in our multi-year transformation as PHH Mortgage officially becomes Onity Mortgage,” Glen Messina, chair, president and CEO of Onity Group, said in a statement.

“This change brings our flagship mortgage platform under the Onity brand and reflects who we are today — a top-tier, technology-enabled mortgage company with a diversified business, strong growth momentum and a relentless focus on creating value for our customers, clients and partners.”

The company noted in its announcement that Liberty Reverse Mortgage has also been rebranded under the Onity name.

Liberty will continue to securitize reverse mortgage buyout loans, but it’s set to shrink its footprint in the channel after announcing in November that it has agreed to sell its existing pipeline of loans and $9.6 billion in reverse mortgage servicing rights (MSRs) to Finance of America.

A spokesperson for Onity told HousingWire‘s Reverse Mortgage Daily that the company did not have any further details to share on that deal, which was initially expected to close in the first quarter of 2026. Liberty, which was the fifth-largest originator of Home Equity Conversion Mortgages (HECMs) in 2025, is expected to stop originating reverse mortgages when that occurs.

The rebranding of PHH Mortgage is the latest step for Onity in presenting a fresh face to consumers and business partners. Formerly known as Ocwen Financial Corp., Onity completed its own rebranding efforts in June 2024.

Onity and PHH have a sizable presence in the forward mortgage space. Inside Mortgage Finance (IMF) reported that the company was the nation’s 21st-largest originator in 2025 with $24.2 billion in volume. That represented 42% growth from 2024 and gave Onity a market share of 1.3% at the end of last year.

IMF data also showed that Onity ranked No. 18 nationally at the end of 2025 with an owned servicing portfolio of $153.6 billion — up nearly 18% year over year.

During its 2025 earnings call last month, Onity reported a record profit of $185.4 million in 2025, up from $33.4 million in 2024. Last year’s figure came in on the high end of its investor guidance range of $166 million to $190 million.

That news came not long after Onity said it finished raising $200 million in debt through an offering to qualified investors. The company planned to use the net proceeds for general corporate purposes, including the repayment of debt tied to MSRs.

Along with a modernized brand image, Onity has become more tech-driven as evidenced by PHH’s February launch of updated subservicing tools. Its LoanSpan AI Assistant (LASI) lets subservicing clients retrieve phone call recordings, creating more efficiency for employees conducting quality checks, audits and borrower escalation reviews.

Alongside its reduced presence in reverse mortgages, the company has turned its attention to growth in the forward channel. In October, PHH launched a suite of nonqualified mortgage (non-QM) products. Known as FlexIQ, the funding options include full documentation, alternative documentation and debt-service-coverage ratio (DSCR) loans for borrowers working with the lender’s delegated and nondelegated correspondents.