Ocwen Financial Corp ( (ONIT) ) has released its Q4 earnings. Here is a breakdown of the information Ocwen Financial Corp presented to its investors.
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Onity Group Inc., a prominent non-bank financial services company, specializes in mortgage servicing and originations solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. Based in West Palm Beach, Florida, Onity operates across various locations, including the U.S. Virgin Islands, India, and the Philippines, serving customers since 1988.
Onity Group has reported its financial results for the full year and fourth quarter of 2024, showcasing notable achievements. The company reached a net income of $33 million, marking its highest since 2013, with a diluted EPS of $4.13 and a return on equity of 8%. Additionally, Onity reduced its corporate debt by $145 million, improving its book value per share by $4 year-over-year to $56 as of December 31, 2024.
The company faced a net loss of $29 million in the fourth quarter, primarily due to $41 million in corporate debt restructuring charges. Despite this, Onity achieved an adjusted pre-tax income of $11 million and maintained a total liquidity of $248 million by the year’s end. The year also saw $86 billion in total servicing additions and a significant boost in originations volume, which increased by 33% from the previous year.
Looking ahead, Onity Group has increased its adjusted ROE guidance for 2025 to a range of 16% – 18%. The company remains optimistic about its strategic initiatives, including digital capability expansions and debt restructuring, and believes it is well-positioned to accelerate growth, improve returns, and deliver substantial value to its stakeholders in the coming years.
