"Chair, President and CEO Glen Messina stated that the company experienced solid underlying business momentum, with double-digit growth in revenue, originations volume, and servicing balances despite market challenges."
"Onity lowered its 2026 adjusted ROE guidance range to 10% to 15%, down from prior guidance of 13% to 15%, citing continued rate volatility linked to geopolitical events."
"The servicing segment generated an adjusted pre-tax loss of $16 million, contrasting with positive adjusted pre-tax income of $6 million in the previous quarter, highlighting the impact of market conditions."
Onity's total revenue increased by 18% year over year to $294 million, with adjusted revenue rising 26% to $278 million. CEO Glen Messina noted strong business momentum, but mortgage rate volatility and elevated FHA delinquencies affected near-term performance. The company lowered its 2026 adjusted ROE guidance to 10%-15%. Analysts pointed out a $17 million increase in MSR runoff losses. The servicing segment reported an adjusted pre-tax loss of $16 million, while total servicing unpaid principal balance rose to $338 billion, reflecting ongoing challenges in the market.
Read at www.housingwire.com
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