ONITY GROUP INC.

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.

Onity Group Inc. announced its second quarter 2026 results, reporting a net loss of $13 million, or ($1.53) diluted EPS, despite a 15% increase in total revenue to $283 million. The company achieved an adjusted pre-tax income of $14 million and saw significant operational growth with record origination volume and substantial subservicing additions. Strategic actions included a reverse asset sale and legacy subservicing transfer, which contributed to the net loss but are intended to simplify the business and improve profitability.

Onity Group reported a net loss of $13 million for Q2 2026, or diluted EPS of ($1.53). Despite this, total revenue increased 15% to $283 million, and adjusted revenue rose 24% to $281 million, driven by record origination volume and significant subservicing additions. The company also strategically repositioned its business through asset sales and legacy subservicing transfers, while maintaining its adjusted ROE guidance range at 10% - 15%, expecting the lower end.

Onity Group Inc. announced it will host a conference call on Thursday, August 6, 2026, at 8:30 a.m. ET. The call will cover the company's second quarter 2026 operating results and provide a business update. Interested parties can access the call via phone or a live audio webcast on the company's Shareholder Relations page, where an investor presentation will also be available. Replays will be accessible via the website and telephonically.

Onity Group Inc. completed the sale of its reverse mortgage servicing portfolio and certain origination assets to Finance of America Reverse LLC on June 30, 2026. The transaction involved approximately 20,000 Ginnie Mae home equity conversion mortgage loans with an unpaid principal balance of $5.2 billion and Onity's reverse mortgage loan pipeline. Onity expects net proceeds of $70 million to $80 million, which will be used for growth, debt reduction, and corporate purposes. The company also entered into a three-year subservicing agreement with FAR and has ceased originating reverse mortgages, aiming to simplify its business and focus on other growth opportunities.

Onity Group Inc. announced that its subsidiary, Onity Mortgage Corporation, completed the sale of reverse mortgage servicing rights (MSRs) to Finance of America Reverse LLC (FAR). The transaction, effective June 30, 2026, involved approximately 20,000 Ginnie Mae home equity conversion mortgage loans with an unpaid principal balance of $5.2 billion. Onity Mortgage will continue to subservice these MSRs under a three-year agreement and has ceased originating reverse mortgages. The company expects net proceeds of $70 million to $80 million, which will be used to support growth, reduce debt, and for other corporate purposes.

Onity Group Inc. announced that its Executive Vice President and Chief Financial Officer, Sean O Neil, will present at the virtual Sidoti Small Cap Conference on June 17, 2026. The presentation is scheduled for 9:15 a.m. to 9:45 a.m. Eastern Time and will be webcast live. Mr. O Neil will also host investor meetings alongside Valerie Haertel, Vice President, Head of Investor Relations, with interested investors able to request meetings through the conference organizers.

Onity Group Inc. announced regulatory approval for the sale of its reverse mortgage servicing portfolio and certain origination assets to Finance of America Reverse LLC. The transaction involves approximately 20,000 Ginnie Mae home equity conversion mortgage loans with an unpaid principal balance of $5.1 billion, and is expected to yield $70-$80 million in net proceeds. Concurrently, the Board authorized a new share repurchase program for up to $20 million of common stock, aiming to enhance shareholder value.

Onity Group Inc. announced regulatory approval for the sale of its reverse mortgage servicing portfolio and certain origination assets to Finance of America Reverse LLC (FAR). The transaction involves approximately 20,000 Ginnie Mae home equity conversion mortgage loans with an unpaid principal balance of $5.1 billion, with Onity becoming the subservicer for three years. Net proceeds are expected to be $70 to $80 million. Additionally, the company's Board of Directors authorized a share repurchase program for up to $20 million of its common stock, reflecting a disciplined capital allocation strategy.

Onity Group Inc. reported a significant decrease in net income for Q1 2026, falling to $6.6 million from $21.1 million year-over-year, despite a rise in total revenue to $294.3 million. Basic EPS also declined to $0.78 from $2.68. The company is undergoing strategic changes, including the planned sale of its HECM loan portfolio to Finance of America Reverse LLC, with an amendment signed in April 2026, and the non-renewal of subservicing agreements with Rithm Capital Corp. effective January 2026. Net cash used in operating activities worsened considerably to $(1,589.9) million.