The nonbank mortgage servicer Ocwen Financial Corporation has begun operating under its new brand name Onity Group Inc.
The West Palm Beach, Florida-based company’s common stock will begin trading today on the New York Stock Exchange under the symbol “ONIT.” Onity’s primary brands, PHH Mortgage Corporation and Liberty Reverse Mortgage, are expected to begin rebranding to Onity Mortgage in the fall of this year.
“This is more than just a name change,” said Glen A. Messina, the company’s chairman, president and CEO. “It is part of the continued evolution of our company that started more than five years ago. We now have a brand identity that reflects our company, our people, and our commitment to delivering results. Our new name, derived from the phrase “on it”; our tagline, “we get it done”; and our vibrant, energetic visual identity collectively stand for a company that takes action, follows through on its commitments and is relentless in creating success for its customers and stakeholders. Onity represents who we are today, and I am excited for what the future holds.”
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