Onity Group Inc (ONIT) News & EventsONITOnity Group Inc

Onity Group Sells Reverse Mortgage Assets, Expected Net Proceeds of $70M to $80M

Onity Group received regulatory approval on May 28 for the sale of the company's reverse mortgage servicing portfolio and certain reverse originations assets to Finance of America Reverse, or FAR. Onity has agreed to sell reverse mortgage servicing rights, or MSRs, comprised of approximately 20,000 Ginnie Mae home equity conversion mortgage loans with an unpaid principal balance of $5.1B as of March 31. Onity will become the subservicer for the reverse MSRs sold to FAR under a three-year subservicing agreement. Upon closing, FAR also will acquire Onity's pipeline of reverse mortgage loans as of the transaction closing date and the company will discontinue originating reverse mortgage loans. Net proceeds from the transaction are expected to be $70M-$80M. The transaction remains subject to customary closing conditions. The Company will provide an update on the anticipated closing date at a later time.

Onity Authorizes Share Repurchase Program Up to $20M

Onity authorized a share repurchase program for an aggregate amount of up to $20M of the company's issued and outstanding shares of common stock. Unless Onity amends the share repurchase program or repurchases the full $20M amount by an earlier date, the share repurchase program will continue through June 2027.

Onity Group Appoints Aulene Wessel as Chief Accounting Officer

Onity Group announced that Aulene Wessel has been named Senior Vice President and Chief Accounting Officer, effective February 23, 2026. Wessel reports to Sean O'Neil, Executive Vice President and Chief Financial Officer of Onity.