“Rebranding to Onity signifies the confidence we have in our business, our capabilities and our team, as well as our unwavering focus on delivering on our commitments to our stakeholders,” Messina added.
The rebranding will not impact Ocwen’s primary mortgage brands, PHH Mortgage Corporation and Liberty Reverse Mortgage, for the time being. However, the company expects to rebrand those entities as Onity Mortgage in the fall of 2024 to align with the new corporate name.
According to Ocwen’s Press release, existing shareholders do not need to take any action, as the company’s CUSIP number for common stock will remain unchanged despite the name change.
Headquartered in West Palm Beach, Ocwen has been serving mortgage customers since 1988 through its PHH Mortgage servicing and lending operations, as well as its Liberty Reverse Mortgage lending business, which is one of the nation’s largest reverse mortgage providers.
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