Key Points – Revenue rose 24% year over year, while funded originations reached a record $15.5 billion, up 64%, driven primarily by correspondent lending and co-issue activity.
Origination margins also improved to 26 basis points. – Onity reported a quarterly net loss after approximately $33 million in transaction costs and unfavorable fair-value adjustments, including expenses tied to its reverse asset sale to Finance of America and the transfer of legacy subservicing to Rithm. – Management expects full-year 2026 adjusted ROE at the low end of its 10%–15% guidance range amid geopolitical, inflationary and market pressures, while pursuing servicing growth, AI-driven cost savings and additional share repurchases
Onity Group (NYSE:ONIT) reported double-digit year-over-year revenue growth and record quarterly origination volume in the second quarter of 2026, while transaction costs and unfavorable fair-value adjustments contributed to a net loss. Chair, President and Chief Executive Officer Glen Messina said the company’s balanced mortgage origination and servicing model continued to provide offsetting earnings dynamics as interest rates changed. Higher rates during the second quarter supported servicing profitability, while origination adjusted pre-tax income declined sequentially. “Our sound strategy and strong operating fundamentals delivered double-digit year-over-year revenue growth and record origination volume,” Messina said.
He added that Onity completed its reverse asset sale to Finance of America and transferred most of its legacy subservicing business back to Rithm. Messina said the transactions are intended to simplify the company’s operations, improve profitability and focus, and provide greater strategic flexibility. The quarterly net loss included approximately $33 million of pre-tax costs associated with the transactions and market-driven unfavorable asset fair-value adjustments.