Onity Group Inc. (ONIT) today announced that it has officially started operating under its new brand name effective Monday, June 10, 2024, replacing its former name, Ocwen Financial (NYSE:ONIT) Corporation.
The Company’s common stock is expected to begin trading on the New York Stock Exchange under the symbol “ONIT” at market open today.
Glen A. Messina, Chair, President and CEO of Onity Group, said, “Today marks the start of a new era for our Company and signifies our transformation, growth and expansion into a balanced and diversified business. We are proud of what we have built – a strong servicing platform with industry-leading cost and operational performance, multi-channel originations and asset management capabilities, and a technology-enabled global platform.”
Messina continued, “This is more than just a name change. It is part of the continued evolution of our Company that started more than five years ago. We now have a brand identity that reflects our Company, our people, and our commitment to delivering results. Our new name, derived from the phrase “on it;” our tagline, “we get it done;” and our vibrant, energetic visual identity collectively stand for a company that takes action, follows through on its commitments and is relentless in creating success for its customers and stakeholders. Onity represents who we are today, and I am excited for what the future holds.”
Onity’s primary brands, PHH Mortgage Corporation and Liberty Reverse Mortgage, are expected to begin rebranding to Onity Mortgage in the fall of this year.