There were a total of 131 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) between Jan. 1 and June 10 of this year that were related to the reverse mortgage industry, according to a database maintained by the bureau. This was 52 fewer complaints compared to the same period in 2023. Of these [...]read moreReverse mortgage consumer complaints decline on a yearly basis: CFPB
The parent company of top 10 reverse mortgage lender Liberty Reverse Mortgage has completed its shareholder-approved rebranding initiative, transforming the former Ocwen Financial Corp. into The Onity Group. The initiative has also transitioned the company’s New York Stock Exchange (NYSE) ticker symbol to “ONIT” as of the market opening on Monday. “Today marks the start [...]read moreLiberty Reverse parent completes rebrand to Onity Group
Ocwen Financial Corp, the parent company of PHH Mortgage Corp. and its reverse mortgage subsidiary Liberty Reverse Mortgage, announced on Tuesday that its shareholders have approved the company’s planned rebranding initiative to Onity Group. The initial phase of the rebranding will first go into effect for the parent company on June 10 and will roll [...]read moreLiberty Reverse parent receives shareholder approval for rebranding
Ocwen Financial Corp., parent company of PHH Mortgage Corp. and Liberty Reverse Mortgage, reported an overall improvement in its business performance for the first quarter of 2024 — including better reverse mortgage performance attributed to servicing and higher gains on loans held for sale. Under generally accepted accounting principles (GAAP), Ocwen reported GAAP net income [...]read moreOcwen improves overall reverse mortgage performance despite volume contraction