ONITY GROUP INC.

Onity Group Inc. is a financial services company that services and originates both forward and reverse mortgage loans. The company operates primarily through its brands, PHH Mortgage and Liberty Reverse Mortgage. Onity is headquartered in West Palm Beach, Florida, with additional offices and operations located in the U.S., the United States Virgin Islands (USVI), India, and the Philippines. As of December 31, 2025, approximately 75% of its workforce was located outside the U.S. Onity Group Inc., a Florida corporation organized in February 1988, has been servicing residential mortgage loans since 1988, including its predecessor companies. The company began originating forward mortgage loans in 2012 and reverse mortgage loans in 2013. Onity's business model focuses on its Servicing business, supported by an Originations platform designed to replenish and grow its servicing portfolio. The Servicing business has two components: its owned mortgage servicing rights (MSR) servicing portfolio and its subservicing portfolio. The company invests capital to fund purchases and originations of its owned MSRs, aiming for a targeted return on investment. The net return from owned MSRs includes servicing revenue net of servicing costs, less MSR portfolio runoff, and less MSR and advance funding cost, and is impacted by fair value changes of owned MSRs, net of hedging. The subservicing portfolio provides a relatively stable revenue source.