{"id":61578,"date":"2025-11-21T03:05:05","date_gmt":"2025-11-21T02:05:05","guid":{"rendered":"https:\/\/housesmarketplace.com\/foa-maps-next-steps-after-phh-reverse-asset-acquisition\/"},"modified":"2025-11-21T03:05:05","modified_gmt":"2025-11-21T02:05:05","slug":"foa-maps-next-steps-after-phh-reverse-asset-acquisition","status":"publish","type":"post","link":"https:\/\/housesmarketplace.trio-tv.com\/ru\/foa-maps-next-steps-after-phh-reverse-asset-acquisition\/","title":{"rendered":"FOA \u043f\u043b\u0430\u043d\u0438\u0440\u0443\u0435\u0442 \u0434\u0430\u043b\u044c\u043d\u0435\u0439\u0448\u0438\u0435 \u0448\u0430\u0433\u0438 \u043f\u043e\u0441\u043b\u0435 \u043e\u0431\u0440\u0430\u0442\u043d\u043e\u0433\u043e \u043f\u0440\u0438\u043e\u0431\u0440\u0435\u0442\u0435\u043d\u0438\u044f \u0430\u043a\u0442\u0438\u0432\u043e\u0432 PHH"},"content":{"rendered":"
\n

Onity Group<\/strong>, the parent company of PHH Mortgage Corp<\/strong>. and its reverse mortgage arm, Liberty Reverse Mortgage<\/strong>, announced this week that it has chosen to stop originating reverse mortgages<\/a>. Instead, Onity said it\u2019s selling almost all of its reverse mortgage business to Finance of America<\/strong> (FOA).<\/p>\n

PHH is selling reverse mortgage servicing rights (MSRs<\/a>) for about 40,000 Ginnie Ma<\/strong>e-backed Home Equity Conversion Mortgages (HECMs) with a total balance of $9.6 billion at the end of September. As part of the deal, PHH will become the subservicer<\/a> for these loans under a three-year agreement with FOA.<\/p>\n

Onity said it wants to focus on other business channels, including conventional forward mortgages, non-QM loans<\/a>, commercial loans and its servicing portfolios rather than reverse mortgage originations.<\/p>\n

FOA<\/a> is doing quite the opposite \u2014 it wants to grow in the reverse mortgage space and sees value in adding PHH\u2019s portfolio and team.<\/p>\n

As a result, FOA will take over PHH\u2019s pipeline of reverse mortgages and said it will hire some of PHH\u2019s employees working in that line of business. The exact number of impacted employees is not available yet, a spokesperson for Onity Group<\/a> told HousingWire<\/strong>\u2018s Reverse Mortgage Daily (RMD).<\/p>\n

CEO Graham Fleming<\/a> said in an interview with RMD that Finance of America is \u201cworking on a plan to integrate those employees,\u201d and that its \u201ccurrent plan is to onboard the employees into our current technology<\/a> stack and current workflow processes.\u201d<\/p>\n

\u201cOver the last probably four to six months, we\u2019ve undertaken a series of strategic initiatives<\/a> that involve delivering the balance sheet,\u201d Fleming said. \u201cThe next strategic step for us was to look in the market, see how we could increase the size of our portfolio and form a partnership, which is what we did with PHH.\u201d<\/p>\n

Onity\u2019s spokesperson said that the decision on their end stemmed in part from the company\u2019s third-quarter 2025 earnings<\/a> performance. <\/p>\n

\u201cOur origination platform is growing faster than the total originations market, and our recapture platform is delivering top-tier performance,\u201d the spokesperson said. Historically, reverse has been a profitable niche business that served as an effective hedge to our forward MSRs, which was critical as we were building our forward originations and recapture capabilities. <\/p>\n

\u201cThis transaction enables us to concentrate our resources on maximizing the growth and earnings potential of forward originations. \u2026 As such, our desire [is] to reposition our participation in reverse from an end-to-end provider to an industry-leading reverse subservicer and asset manager.\u201d\u00a0<\/p>\n

Until the transaction closes, which is expected to happen in Q1 2026, Onity is operating under \u201cbusiness as usual\u201d and will continue to originate reverse mortgages until the deal reaches the finish line.\u00a0<\/p>\n

Fleming said there will be no disruption for servicing, and that PHH\u2019s current borrowers will continue to interact with them via the PHH technology platform.\u00a0<\/p>\n

He described the transaction as a \u201cthreefold\u201d opportunity, saying that the company is diversifying its subservicing, increasing the size of its portfolio and onboarding new talent.<\/p>\n

\u201cWe also look forward to PHH offering our HomeSafe Second<\/a> (product), which we think will gain a lot of traction headed into 2026,\u201d Fleming said.<\/p>\n

Fleming shared an update on FOA\u2019s profitability status, which will be boosted by the deal. While FOA recorded a $29 million loss in Q3 2025<\/a>, adjusted net income was $33 million during the same period, a 136% improvement from the second quarter and up 120% year over year.<\/p>\n

An FOA spokesperson confirmed that for the first nine months of 2025, it posted $131 million in net income and $60 million in adjusted net income \u2014 a fivefold increase from last year.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Onity Group, the parent company of PHH Mortgage Corp. and its reverse mortgage arm, Liberty Reverse Mortgage, announced this week that it has chosen to stop originating reverse mortgages. Instead, Onity said it\u2019s selling almost all of its reverse mortgage business to Finance of America (FOA). PHH is selling reverse mortgage servicing rights (MSRs) for […]<\/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-61578","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nFOA maps next steps after PHH reverse asset acquisition - 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\/foa-maps-next-steps-after-phh-reverse-asset-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FOA maps next steps after PHH reverse asset acquisition - Houses Marketplace\" \/>\n<meta property=\"og:description\" content=\"Onity Group, the parent company of PHH Mortgage Corp. and its reverse mortgage arm, Liberty Reverse Mortgage, announced this week that it has chosen to stop originating reverse mortgages. 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