PHH Corporation

What PHH Corporation does

Onity Group Inc., formerly PHH Corporation, is a U.S. non-bank financial services company founded in 1946 and acquired by Ocwen Financial Corporation in 2018. The company operates primarily through its wholly-owned subsidiary Onity Mortgage Corporation and provides mortgage servicing, origination, and lending solutions to two customer segments: individual consumers (homeowners, homebuyers, and reverse mortgage borrowers) and business clients (financial institutions seeking subservicing, correspondent lending, MSR purchase/co-issuance, and commercial mortgage services). The company rebranded from PHH Mortgage to Onity Mortgage in March 2026 to unify its identity under the Onity parent brand.

Name

PHH Corporation

Legal name

Onity Group Inc.

Website

https://corporate.phh.com

Company type

Public

Founded year

1946

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Onity Group Inc. (formerly PHH Corporation) is a U.S. non-bank financial services company that provides mortgage servicing, origination, and lending solutions to consumers and business clients through its primary subsidiary Onity Mortgage Corporation.

Ownership category

akta.pro rank

Product category

Mortgage Servicing and Lending

NAICS

Activities Related to Credit Intermediation (5223), Credit Intermediation and Related Activities (522)

SIC

Mortgage Bankers & Loan Correspondents (6162), Loan Brokers (6163)

akta.pro primary industry

Marketplace & Loan Aggregation Platforms (Borrower-Lender Matching) (FSAGAHAL)

akta.pro secondary industries

Reverse Mortgage Technology & Compliance (LOS/CRM/HECM Calculators) (FSALAIAI), Mortgage Comparison, Marketplace & Rate-Shopping Platforms (FSALABAJ), Loan Servicing & Special Servicing (Delinquency Management) (FSAKAJAG)

Keywords

• Mortgage servicing
• Mortgage lending
• Reverse mortgages
• Loan subservicing
• Correspondent lending

Headquarters

HQ city

Mount Laurel

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Mortgage Servicing: Primary revenue from servicing mortgage loans for homeowners and homebuyers, including managing loan portfolios, collecting payments, and handling escrow accounts.
2. Lending Programs: Revenue from mortgage lending including purchase financing and refinancing solutions, as well as reverse mortgage products for eligible homeowners.
3. B2B Services (Subservicing, Correspondent Lending, MSR/Co-Issue, Commercial): Business solutions revenue stream serving other financial institutions and businesses through subservicing arrangements, correspondent lending programs, MSR purchase/co-issuance, and commercial mortgage services.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Onity Group Inc., through its primary subsidiary Onity Mortgage Corporation, is a non-bank financial services company that services and originates mortgage loans for consumers and provides B2B mortgage services to financial institutions. Consumer offerings include home purchase financing, refinancing, and reverse mortgages, while business offerings include loan subservicing, correspondent lending, MSR purchase and co-issuance, and commercial mortgage solutions, all delivered through a technology-enabled platform.

Product overview

PHH Corporation, now operating as Onity Group Inc., is a non-bank financial services company offering a comprehensive suite of mortgage and lending products. The company operates primarily through two product lines: Onity Mortgage (consumer-focused) providing homeownership services including buying, refinancing, and reverse mortgages; and Onity Mortgage Business Solutions offering B2B services such as subservicing, correspondent lending, MSR/Co-Issue, and commercial mortgage products. The company was rebranded from PHH Mortgage to Onity Mortgage in March 2026 to align with the parent company identity. All services are powered by a technology-enabled, customer-centric platform.

Differentiator

Problem solved

Functional benefit

Brands

• Onity Mortgage: Primary mortgage brand offering homeownership and financial services including buying, refinancing, and reverse mortgages for homeowners and homebuyers
• Onity Business Solutions

Products and services

• Onity Mortgage (formerly PHH Mortgage) — Consumer Lending and Servicing Consumer-facing mortgage platform (formerly PHH Mortgage, rebranded to Onity Mortgage in March 2026) offering home purchase financing, refinancing solutions, and reverse mortgage products for individual homeowners, homebuyers, and eligible senior homeowners. Operated through primary subsidiary Onity Mortgage Corporation (NMLS #2726).
• Onity Mortgage Business Solutions B2B suite of mortgage services for financial institutions and business clients, including loan subservicing, correspondent lending programs, MSR purchase and co-issuance, and commercial mortgage solutions. Accessed via business.onitymortgage.com.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Ocwen Financial CorporationcoreOthersOcwen is shown in the footer of the Onity website as an affiliated entity (Ocwen USVI Services LLC and Ocwen Financial Solutions Private Limited), indicating a corporate relationship within the broader financial services ecosystem. The relationship appears to be operational rather than formal partnership.

Scale indicators2 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Guild Mortgage: Mid-to-large non-bank mortgage lender with retail origination. Overlaps with Onity's consumer purchase and refinance offerings, though smaller servicing book.
• Rithm Capital (NewRez): Mortgage servicer and originator (NewRez) with MSR-focused business model. Highly comparable to Onity's servicing-plus-origination strategy and MSR/Co-Issue offerings.
• loanDepot: Large non-bank mortgage originator with consumer direct and partner channels. Comparable to Onity's consumer-facing mortgage products and reverse mortgage offerings (LDMicro).
• Mr. Cooper Group: Largest US mortgage servicer and a significant originator. Most directly comparable to Onity given the overlap in subservicing, servicing portfolio, and consumer direct origination, with similar non-bank model.
• Pennymac Financial Services: Large non-bank mortgage servicer and lender with significant correspondent and consumer direct channels. Closely comparable to Onity's combination of servicing, correspondent lending, and direct origination.
• Caliber Home Loans: Non-bank mortgage servicer and originator with correspondent and retail channels. Closely comparable to Onity in product mix and target market.

Broad incumbents

• Rocket Companies: Largest US mortgage originator with a consumer-direct brand (Rocket Mortgage) and growing servicing portfolio. Competes with Onity across purchase, refi, and increasingly in servicing.
• UWM Holdings (United Wholesale Mortgage): Largest US wholesale mortgage lender. Competes with Onity in correspondent lending and origination capacity, though more wholesale-focused than retail.
• Flagstar Financial (Flagstar Bank): Bank-based mortgage originator and servicer. Competes with Onity across origination and servicing, particularly in correspondent channels.

Others

• Ocwen Financial Corporation: Parent company of Onity Group Inc. Operates in mortgage servicing and origination, with substantial overlap in business activity but as the corporate parent rather than peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/phh-corporation

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PHH Corporation