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PHH Mortgage Launches Proprietary Non-QM Product Suite

1. PHH Mortgage launches FlexIQ suite of non-QM products on October 20. 2. FlexIQ offers streamlined processes for clients amid growing non-QM demand. 3. The new suite replaces the Gold/Silver/Bronze non-QM programs. 4. FlexIQ includes Full Doc, Alt Doc, and DSCR categories for diverse borrowers. 5. Onity's expansion in mortgages underlines its commitment to client services.

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Why Bullish?

The launch of FlexIQ demonstrates innovation and responsiveness to market demands. Historical trends show similar product introductions led to positive stock reactions in financial firms.

How important is it?

The introduction of a new product suite like FlexIQ is crucial for ONIT's growth strategy, potentially driving revenues and market share. Market conditions favor non-QM offerings, which can enhance investor confidence.

Why Short Term?

Market reactions to new product announcements can quickly impact stock prices, as seen in past launches in the financial sector. Early adoption could drive immediate sales and client interest.

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WEST PALM BEACH, Fla., Oct. 13, 2025 (GLOBE NEWSWIRE) -- PHH Mortgage (“PHH” or the “Company”), a subsidiary of Onity Group Inc. (NYSE: ONIT) and a leading non-bank mortgage servicer and originator, today announced that the Company expects to launch a new suite of proprietary non-qualified mortgage (non-QM) products known as FlexIQ on October 20. The product suite will be available through the Company’s Correspondent Lending channel for delegated and non-delegated loans. “We designed FlexIQ with our clients’ needs in mind, offering them an easier, streamlined process and a flexible product suite to meet the growing demand for non-QM products,” said Rich Bradfield, Executive Vice President and Chief Growth Officer. “We are excited to launch FlexIQ, which underscores our commitment to being a trusted partner by continuing to provide value-added products to our clients and the customers they serve.” "FlexIQ is our new proprietary product with a service-first approach that includes a single standard for underwriting across multiple product types, a dedicated support desk, and necessary training, as well as other helpful resources,” added Andy Peach, Executive Vice President and Chief Lending Officer. “We anticipate that FlexIQ will serve as a cornerstone in expanding our non-agency product offerings to help our clients grow their business." FlexIQ offers flexible underwriting and intelligent mortgage solutions in the following three product categories: Full Documentation (Full Doc): Designed for borrowers who are seeking loan limits above traditional Agency standards.Alternative Documentation (Alt Doc): Designed for non-traditional income profiles for borrowers who require alternative methods to document their income.Debt Service Coverage Ratio (DSCR): Designed for real estate investors who are seeking to qualify based on rental income compared to monthly housing expenses. FlexIQ will replace PHH’s previously offered Gold/Silver/Bronze non-QM programs. For more information on PHH Correspondent products, please visit https://correspondent.phhmortgage.com. About Onity Group Onity Group Inc. (NYSE: ONIT) is a leading non-bank financial services company providing mortgage servicing and originations solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to consumers and business clients. Liberty is one of the nation’s largest reverse mortgage lenders dedicated to providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices and operations in the United States, the U.S. Virgin Islands, India and the Philippines, and have been serving our customers since 1988. For additional information, please visit onitygroup.com. PHH Mortgage is an equal housing lender. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by a reference to a future period or by the use of forward-looking terminology. Forward-looking statements are typically identified by words such as “expect”, “believe”, “foresee”, “anticipate”, “intend”, “estimate”, “goal”, “strategy”, “plan” “target” and “project” or conditional verbs such as “will”, “may”, “should”, “could” or “would” or the negative of these terms, although not all forward-looking statements contain these words, and includes statements in this press release regarding the anticipated benefits of the FlexIQ product to PHH’s correspondent lending clients and the ability of PHH to continue expanding product options. Forward-looking statements involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, changes in market conditions, the industry in which Onity operates, and its business, the actions of governmental entities and regulators, developments in litigation matters, and other risks and uncertainties detailed in Onity’s reports and filings with the SEC, including its annual report on Form 10-K for the year ended December 31, 2024 and subsequent reports. Anyone wishing to understand Onity Group Inc.’s business should review its SEC filings. Onity’s forward-looking statements speak only as of the date they are made and Onity disclaims any obligation to update or revise forward-looking statements whether as a result of new information, future events or otherwise. For Further Information Contact: Dico Akseraylian, SVP, Corporate Communications(856) 917-0066mediarelations@onitygroup.com

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