{"id":58420,"date":"2024-08-14T03:03:15","date_gmt":"2024-08-14T01:03:15","guid":{"rendered":"https:\/\/housesmarketplace.com\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/"},"modified":"2024-08-14T03:03:15","modified_gmt":"2024-08-14T01:03:15","slug":"waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages","status":"publish","type":"post","link":"https:\/\/housesmarketplace.trio-tv.com\/ru\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/","title":{"rendered":"\u0412\u043e\u0434\u043e\u043f\u0430\u0434: \u043e\u0431\u0440\u0430\u0442\u043d\u0430\u044f \u0441\u0434\u0435\u043b\u043a\u0430 MSR \u0441 Onity \u0434\u0435\u043c\u043e\u043d\u0441\u0442\u0440\u0438\u0440\u0443\u0435\u0442 \u043f\u0440\u0438\u0432\u0435\u0440\u0436\u0435\u043d\u043d\u043e\u0441\u0442\u044c \u043e\u0442\u043c\u0435\u043d\u0435 \u0438\u043f\u043e\u0442\u0435\u0447\u043d\u044b\u0445 \u043a\u0440\u0435\u0434\u0438\u0442\u043e\u0432"},"content":{"rendered":"
\n

Onity Group<\/strong><\/a>, parent company of top five reverse mortgage lender and servicer Liberty Reverse Mortgage<\/strong>, will acquire reverse mortgage assets from Mortgage Assets Management, LLC<\/strong> (MAM), a subsidiary of investment funds managed by Waterfall Asset Management<\/strong><\/a>.<\/p>\n

The deal, initially announced by Onity during its Q2 earnings call<\/a>, suggests that Waterfall is committed to the reverse mortgage space. The assets at the heart of the agreement are already subserviced by PHH Mortgage<\/strong><\/a><\/strong>, itself a subsidiary of Onity and the parent company of Liberty.<\/p>\n

The assets have \u201ca projected unpaid principal balance of approximately $3 billion,\u201d Onity announced in its Q2 report. \u201cThe company intends to issue $51.7 million in par value of new, non-convertible, cumulative preferred stock to Waterfall in consideration of the acquisition.\u201d<\/p>\n

\u201cThis strategic partnership combines our capital and expertise with Onity\u2019s operational capabilities, enabling us to seek exceptional investment opportunities. We look forward to expanding this collaboration to leverage our complementary strengths,\u201d Leo Wong, a partner at Waterfall, said in a statement.<\/p>\n

Wong added that from Waterfall\u2019s perspective, this deal is illustrative of the company\u2019s desire to grow its presence inside the reverse mortgage industry. Onity \u2014 previously known as Ocwen Financial Corporation<\/strong> \u2014 has worked with Waterfall for years.<\/p>\n

\u201cWe are excited about today\u2019s announcement and what it means for our ability to continue growing our Home Equity Conversion Mortgage (HECM) activities,\u201d Wong added. \u201cWe see HECMs as a valuable tool for homeowners in today\u2019s environment, many of whom have accumulated substantial equity but also benefit from low mortgage rates so want to access that equity without selling their home, and [we] are pleased to be able to support the growth of this dynamic sector of real estate finance.\u201d<\/p>\n

HousingWire<\/strong>\u2019s Reverse Mortgage Daily (RMD) reached out to Onity for comment. A company spokesperson referred the inquiry back to comments made by Onity leadership in its Q2 2024 earnings information, where CEO Glen Messina expressed satisfaction with the deal. An inquiry to Waterfall was not immediately returned.<\/p>\n

\u201cWe expect this transaction to be accretive to earnings and cash flows immediately upon closing, while strengthening our position in reverse servicing as a hedge to forward [mortgage servicing rights (MSRs)], providing incremental asset management opportunities, and improving our capital structure,\u201d Onity CEO Glen Messina previously said in a statement.<\/p>\n

Messina went on to call MAM a \u201cvalued subservicing client.\u201d And Sean O\u2019Neil, Onity\u2019s chief financial officer, offered further details during the earnings call.<\/p>\n

\u201cThis transaction strengthens and expands an already healthy relationship between our two firms\u201c O\u2019Neil said last week. \u201cThe Waterfall affiliate MAM has been a subservicing client of ours for some time now, so we know these assets well from a performance perspective.<\/p>\n

\u201cThis deal is also accompanied by seller-provided financing, and it is accretive to both earnings per share and cash. Our intent is that, on close, we use the proceeds to further reduce corporate debt by an anticipated amount of $40 million.\u201c<\/p>\n

Onity became involved in reverse mortgage servicing with a $12.4 million deal<\/a> in 2021 to acquire HECM lender-turned-servicer Reverse Mortgage Solutions<\/strong> (RMS) from its owner, MAM, after a roller coaster of ownership changes<\/a> and legal disputes following the end of RMS\u2019 time as a reverse mortgage lender<\/a> in 2017.<\/p>\n

Servicing has been a consistent point of emphasis in Onity\/Ocwen\u2019s earnings presentations, including reverse mortgage servicing, as a business arm that contributes to profitability and portfolio diversity for the company.<\/p>\n

In a previous interview<\/a> with RMD, Waterfall\u2019s Wong explained that the development of a new reverse mortgage-backed securities program by Ginnie Mae<\/strong><\/a> helps to add to the company\u2019s overall confidence in the future of the reverse mortgage industry.<\/p>\n

\u201cI think, from our vantage point, this is one event that we were pretty excited to hear the news from, as are most industry participants,\u201d Wong said in July. \u201cI think, as a whole, the industry is reacting pretty favorably to this. Ginnie Mae has demonstrated a real commitment to the reverse mortgage products through their HECM-backed Securities (HMBS) program.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Onity Group, parent company of top five reverse mortgage lender and servicer Liberty Reverse Mortgage, will acquire reverse mortgage assets from Mortgage Assets Management, LLC (MAM), a subsidiary of investment funds managed by Waterfall Asset Management. The deal, initially announced by Onity during its Q2 earnings call, suggests that Waterfall is committed to the reverse […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-58420","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nWaterfall: Reverse MSR deal with Onity showcases commitment to reverse mortgages - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.trio-tv.com\/ru\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Waterfall: Reverse MSR deal with Onity showcases commitment to reverse mortgages - Houses Marketplace\" \/>\n<meta property=\"og:description\" content=\"Onity Group, parent company of top five reverse mortgage lender and servicer Liberty Reverse Mortgage, will acquire reverse mortgage assets from Mortgage Assets Management, LLC (MAM), a subsidiary of investment funds managed by Waterfall Asset Management. The deal, initially announced by Onity during its Q2 earnings call, suggests that Waterfall is committed to the reverse […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/housesmarketplace.trio-tv.com\/ru\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/\" \/>\n<meta property=\"og:site_name\" content=\"Houses Marketplace\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-14T01:03:15+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u041d\u0430\u043f\u0438\u0441\u0430\u043d\u043e \u0430\u0432\u0442\u043e\u0440\u043e\u043c\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u041f\u0440\u0438\u043c\u0435\u0440\u043d\u043e\u0435 \u0432\u0440\u0435\u043c\u044f \u0434\u043b\u044f \u0447\u0442\u0435\u043d\u0438\u044f\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 \u043c\u0438\u043d\u0443\u0442\u044b\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/#\\\/schema\\\/person\\\/1276f6cf52b5de6bd341c72ea8c75b0b\"},\"headline\":\"Waterfall: Reverse MSR deal with Onity showcases commitment to reverse mortgages\",\"datePublished\":\"2024-08-14T01:03:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\\\/\"},\"wordCount\":678,\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"ru-RU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\\\/\",\"url\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\\\/\",\"name\":\"Waterfall: Reverse MSR deal with Onity showcases commitment to reverse mortgages - Houses Marketplace\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/#website\"},\"datePublished\":\"2024-08-14T01:03:15+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/#\\\/schema\\\/person\\\/1276f6cf52b5de6bd341c72ea8c75b0b\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\\\/#breadcrumb\"},\"inLanguage\":\"ru-RU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Waterfall: Reverse MSR deal with Onity showcases commitment to reverse mortgages\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/#website\",\"url\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/\",\"name\":\"Houses Marketplace\",\"description\":\"International Real Estate\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"ru-RU\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/#\\\/schema\\\/person\\\/1276f6cf52b5de6bd341c72ea8c75b0b\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ru-RU\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/140237897fb8310eb02b9e9e60bc4c80ec8ee5e10f4896a3c4d6b98a92bf825e?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/140237897fb8310eb02b9e9e60bc4c80ec8ee5e10f4896a3c4d6b98a92bf825e?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/140237897fb8310eb02b9e9e60bc4c80ec8ee5e10f4896a3c4d6b98a92bf825e?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\\\/\\\/housesmarketplace.trio-tv.com\\\/ru\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Waterfall: Reverse MSR deal with Onity showcases commitment to reverse mortgages - Houses Marketplace","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/housesmarketplace.trio-tv.com\/ru\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/","og_locale":"ru_RU","og_type":"article","og_title":"Waterfall: Reverse MSR deal with Onity showcases commitment to reverse mortgages - Houses Marketplace","og_description":"Onity Group, parent company of top five reverse mortgage lender and servicer Liberty Reverse Mortgage, will acquire reverse mortgage assets from Mortgage Assets Management, LLC (MAM), a subsidiary of investment funds managed by Waterfall Asset Management. The deal, initially announced by Onity during its Q2 earnings call, suggests that Waterfall is committed to the reverse […]","og_url":"https:\/\/housesmarketplace.trio-tv.com\/ru\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/","og_site_name":"Houses Marketplace","article_published_time":"2024-08-14T01:03:15+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"\u041d\u0430\u043f\u0438\u0441\u0430\u043d\u043e \u0430\u0432\u0442\u043e\u0440\u043e\u043c":"admin","\u041f\u0440\u0438\u043c\u0435\u0440\u043d\u043e\u0435 \u0432\u0440\u0435\u043c\u044f \u0434\u043b\u044f \u0447\u0442\u0435\u043d\u0438\u044f":"3 \u043c\u0438\u043d\u0443\u0442\u044b"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/housesmarketplace.trio-tv.com\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/#article","isPartOf":{"@id":"https:\/\/housesmarketplace.trio-tv.com\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/"},"author":{"name":"admin","@id":"https:\/\/housesmarketplace.trio-tv.com\/#\/schema\/person\/1276f6cf52b5de6bd341c72ea8c75b0b"},"headline":"Waterfall: Reverse MSR deal with Onity showcases commitment to reverse mortgages","datePublished":"2024-08-14T01:03:15+00:00","mainEntityOfPage":{"@id":"https:\/\/housesmarketplace.trio-tv.com\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/"},"wordCount":678,"articleSection":["Uncategorized"],"inLanguage":"ru-RU"},{"@type":"WebPage","@id":"https:\/\/housesmarketplace.trio-tv.com\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/","url":"https:\/\/housesmarketplace.trio-tv.com\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/","name":"Waterfall: Reverse MSR deal with Onity showcases commitment to reverse mortgages - Houses Marketplace","isPartOf":{"@id":"https:\/\/housesmarketplace.trio-tv.com\/#website"},"datePublished":"2024-08-14T01:03:15+00:00","author":{"@id":"https:\/\/housesmarketplace.trio-tv.com\/#\/schema\/person\/1276f6cf52b5de6bd341c72ea8c75b0b"},"breadcrumb":{"@id":"https:\/\/housesmarketplace.trio-tv.com\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/#breadcrumb"},"inLanguage":"ru-RU","potentialAction":[{"@type":"ReadAction","target":["https:\/\/housesmarketplace.trio-tv.com\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/housesmarketplace.trio-tv.com\/waterfall-reverse-msr-deal-with-onity-showcases-commitment-to-reverse-mortgages\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/housesmarketplace.trio-tv.com\/"},{"@type":"ListItem","position":2,"name":"Waterfall: Reverse MSR deal with Onity showcases commitment to reverse mortgages"}]},{"@type":"WebSite","@id":"https:\/\/housesmarketplace.trio-tv.com\/#website","url":"https:\/\/housesmarketplace.trio-tv.com\/","name":"\u0420\u044b\u043d\u043e\u043a \u0434\u043e\u043c\u043e\u0432","description":"\u041c\u0435\u0436\u0434\u0443\u043d\u0430\u0440\u043e\u0434\u043d\u0430\u044f \u043d\u0435\u0434\u0432\u0438\u0436\u0438\u043c\u043e\u0441\u0442\u044c","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/housesmarketplace.trio-tv.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"ru-RU"},{"@type":"Person","@id":"https:\/\/housesmarketplace.trio-tv.com\/#\/schema\/person\/1276f6cf52b5de6bd341c72ea8c75b0b","name":"\u0430\u0434\u043c\u0438\u043d\u0438\u0441\u0442\u0440\u0430\u0442\u043e\u0440","image":{"@type":"ImageObject","inLanguage":"ru-RU","@id":"https:\/\/secure.gravatar.com\/avatar\/140237897fb8310eb02b9e9e60bc4c80ec8ee5e10f4896a3c4d6b98a92bf825e?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/140237897fb8310eb02b9e9e60bc4c80ec8ee5e10f4896a3c4d6b98a92bf825e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/140237897fb8310eb02b9e9e60bc4c80ec8ee5e10f4896a3c4d6b98a92bf825e?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/housesmarketplace.trio-tv.com\/ru\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/housesmarketplace.trio-tv.com\/ru\/wp-json\/wp\/v2\/posts\/58420","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/housesmarketplace.trio-tv.com\/ru\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/housesmarketplace.trio-tv.com\/ru\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/housesmarketplace.trio-tv.com\/ru\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/housesmarketplace.trio-tv.com\/ru\/wp-json\/wp\/v2\/comments?post=58420"}],"version-history":[{"count":0,"href":"https:\/\/housesmarketplace.trio-tv.com\/ru\/wp-json\/wp\/v2\/posts\/58420\/revisions"}],"wp:attachment":[{"href":"https:\/\/housesmarketplace.trio-tv.com\/ru\/wp-json\/wp\/v2\/media?parent=58420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/housesmarketplace.trio-tv.com\/ru\/wp-json\/wp\/v2\/categories?post=58420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/housesmarketplace.trio-tv.com\/ru\/wp-json\/wp\/v2\/tags?post=58420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}