Founded in 1988, Ocwen Financial Corporation grew to become one of the largest non-bank mortgage servicers in the United States. The company's primary business involves managing and collecting payments on residential mortgage loans on behalf of loan owners. In 2018, Ocwen acquired PHH Corporation, another major mortgage servicer, and subsequently consolidated its servicing operations under the PHH Mortgage brand. The company's mission has been to help homeowners and loan investors by providing a range of servicing and lending solutions. Following its acquisition by Oaktree Capital Management, Ocwen Financial Corporation was officially rebranded to Onity Group Inc. (NYSE: ONIT) in June 2024, continuing its focus on mortgage servicing and origination.

Founded in

United States