Onity Group Inc. (NYSE:ONIT) said its mortgage subsidiary has officially been renamed from PHH Mortgage Corporation to Onity Mortgage Corporation, according to a company statement.
The rebranding aligns the mortgage platform with the Onity name and includes updated websites and communication channels for both clients and consumers. The company also said its reverse mortgage offering, previously branded as Liberty Reverse Mortgage, has now been integrated under the Onity Mortgage brand.
“Today marks another important milestone in our multi-year transformation as PHH Mortgage officially becomes Onity Mortgage,” said Glen A. Messina, Chair, President and CEO of Onity Group.
The updated brand will use the existing Onity logo and visual identity to create a consistent look across the organization’s operations. Onity Mortgage will adopt the same design elements used by the parent company.
Onity Group operates as a non-bank financial services provider focused on mortgage servicing and loan originations through its mortgage subsidiary. The company is headquartered in West Palm Beach, Florida, and maintains additional offices across the United States, the U.S. Virgin Islands, India and the Philippines.
According to the company, the rebranding is part of a broader transformation initiative that has been underway for several years. Onity said it has been serving customers since 1988 and describes itself as one of the larger mortgage servicers in the United States.