Onity Group Inc. announced this week that it plans to rebrand its PHH Mortgage Corp. subsidiary as Onity Mortgage Corp., effective March 23, extending the company’s multiyear shift from the legacy Ocwen and PHH brands.
The company disclosed the planned name change in a statement, saying that PHH Mortgage will become Onity Mortgage and align with the Onity name, logo and visual identity that the parent adopted in June 2024 when Ocwen Financial Corp. rebranded as Onity Group Inc. and began trading on the New York Stock Exchange under the ticker “ONIT.”
The move is the latest step in a broader strategic transformation that Onity has highlighted in recent earnings reports — including record originations volume and strong recapture performance in 2025, year-over-year servicing portfolio growth and expanded use of AI-enabled technology across its platform.
Onity currently ranks as a top-10 nonbank mortgage servicer, according to the company, with a portfolio that includes servicing for 1.4 million consumers on behalf of more than 3,000 investors and 100-plus subservicing clients.
The firm has been investing in servicing technology and origination capabilities while adding new subservicing clients and growing its owned mortgage servicing rights book.
“We are excited for this next phase of our rebranding effort, further expanding and strengthening the Onity brand across the mortgage industry,” Glen Messina, chair, president and CEO of Onity Group, said in a statement. “The continuation of our Onity rebranding represents our multi-year transformation to grow and expand our business.”
Messina said the rebrand is intended to position the mortgage subsidiary as a “customer-focused, technology-enabled” platform. The company has been rolling out AI-enabled tools designed to boost productivity and service quality, and has launched new products and services aimed at recapturing, retention and customer experience.
In the fourth quarter, Onity also announced plans to reposition its reverse mortgage business to simplify operations and pursue higher-margin growth opportunities.
The company reported record 2025 earnings, with $185.4 million in net income and a 43% rise in mortgage originations. It announced a $10 million share repurchase program, ended the year with $205 million in liquidity, and raised additional capital to support growth and reduce leverage.
Onity also outlined steps to streamline operations, including its planned sale of reverse mortgage assets to Finance of America and the transition of a deeply delinquent loan portfolio away from Rithm Capital.
“Onity, inspired by our mantra ‘we’re on it,’ is a brand built around the customer with the promise of dependability, performance and support,” Messina said. “It represents our commitment to creating success for our customers, clients and partners every step of the way.”
When the PHH Mortgage name changes to Onity Mortgage, the subsidiary will roll out redesigned websites, along with updated client and consumer communications, to reflect the unified branding, the company said.
For lenders, servicers and investors that partner with PHH, the change is primarily a brand and communications update rather than an immediate operational shift. But it signals that Onity intends to compete as a scaled, tech-forward subservicer and originator under a single national brand, with continued investment in AI-driven workflows and customer engagement.
Sarah Wolak reported and wrote this article with drafting assistance from HousingWire Automation, an editorial tool that helps transform announcements and industry data into HousingWire-style news coverage.
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