Quarterly ResultAug 6, 2026, 05:00 PM
Onity Reports Q2 Loss of $12.9M; Sells HECM Portfolio
AI Summary
Onity Group Inc. reported a net loss attributable to common stockholders of $12.9 million, or $(1.53) per basic share, for the three months ended June 30, 2026, a significant decline from a net income of $20.5 million in the prior year period. Total revenue increased to $282.9 million. The company also completed the sale of a portion of its Home Equity Conversion Mortgage (HECM) loan portfolio to Finance of America Reverse LLC and will cease most reverse mortgage originations for five years. Additionally, PHH Mortgage Corporation was rebranded to Onity Mortgage Corporation.
Key Highlights
- Net loss attributable to common stockholders was $(12.9)M for Q2 2026, compared to $20.5M in Q2 2025.
- Basic EPS was $(1.53) for Q2 2026, down from $2.55 in Q2 2025.
- Total revenue increased to $282.9M in Q2 2026 from $246.6M in Q2 2025.
- Completed sale of a portion of HECM loan portfolio to Finance of America Reverse LLC.
- PHH Mortgage Corporation rebranded to Onity Mortgage Corporation on March 23, 2026.
- Net cash used in operating activities rose to $(2,106.0)M for H1 2026.
- Repurchased $12.0M of common stock during the first six months of 2026.
Price Impact
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