Onity sells $5.2B reverse MSR portfolio, expects $70–80M net proceeds

Onity closed sale of reverse mortgage servicing rights covering ~20,000 Ginnie Mae HECM loans with $5.2B UPB and expects $70–80M net proceeds.Key Highlights:Original SEC Filing: ONITY GROUP INC. [ ONIT ] - 8-K - Jul. 01, 2026This is an AI-powered summary. It may contain inaccuracies. Consider verif…

Onity closed sale of reverse mortgage servicing rights covering ~20,000 Ginnie Mae HECM loans with $5.2B UPB and expects $70–80M net proceeds.

Key Highlights:

Sold reverse mortgage servicing rights for ~20,000 Ginnie Mae HECM loans with $5.2B unpaid principal balance (as of May 31, 2026).
Entered into a three-year subservicing agreement to continue servicing the sold MSRs for Finance of America Reverse.
Also sold its pipeline of reverse mortgage loans and ceased originating reverse mortgages.
Net proceeds expected to be $70 to $80 million, to be used to support growth, reduce debt and for other corporate purposes.

Original SEC Filing:

This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.