Onity delivered Q1 2026 net income attributable to common stockholders of $7 million, diluted EPS of $0.74 and a 4% return on equity. Adjusted pre-tax loss was $6 million reflecting mortgage rate volatility, while total revenue climbed 18% year-over-year to $294 million and adjusted revenue rose 26% to $278 million. Servicing additions totaled $28 billion, including $20 billion in MSR, and ending servicing UPB reached $338 billion, up 11% from Q1 2025.

The company revised its full-year 2026 adjusted ROE target down to 10%–15% from 13%–15% in light of ongoing rate fluctuations, while reaffirming previous guidance on servicing UPB growth, MSR hedge effectiveness and operating efficiency.

During Q1 Onity repurchased approximately 154,000 shares using $6.1 million of its $10 million authorization and completed 88,000 shares as of May 1. The company also raised $200 million through a high-yield debt offering, saw originations volume double to $14 billion year-over-year, and book value per share increased to $75, $17 above Q1 2025.

Onity is expanding AI-powered technologies to improve service, reduce costs and fuel revenue growth. It also revised a reverse mortgage transaction with Finance of America Reverse, pending Ginnie Mae approval for a subservicing relationship, and rebranded PHH Mortgage to Onity Mortgage Corporation.