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PHH Mortgage Receives 2024 Fannie Mae Star Performer Award for Servicing Excellence

1. PHH Mortgage, a subsidiary of ONIT, achieved STAR Performer recognition for 2024. 2. PHH has received this recognition for four consecutive years, reflecting consistent performance. 3. They serviced approximately 1.4 million loans with over $300 billion in total unpaid principal. 4. The recognition highlights their innovative technology and customer-focused service approach. 5. ONIT's brands also include Liberty Reverse Mortgage, expanding their service offerings.

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FAQ

Why Bullish?

Achieving Fannie Mae's STAR Performer status signals industry leadership. This can increase investor confidence.

How important is it?

Recognition by a major entity like Fannie Mae can positively influence ONIT's stock value due to increased trust among investors.

Why Long Term?

Sustained recognition strengthens ONIT's market position and operational credibility over time, leading to potential revenue growth.

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WEST PALM BEACH, Fla., March 06, 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 the Company achieved Fannie Mae’s 2024 Servicer Total Achievement and Rewards™ (STAR™) Performer recognition in the General Servicing category. PHH has earned STAR Performer recognition for four consecutive years. “We are honored to be recognized again by Fannie Mae for excellence in mortgage servicing, and we want to thank our team for their hard work and dedication toward maintaining superior operational performance and creating positive outcomes for our customers,” said Scott Anderson, Executive Vice President and Chief Servicing Officer of PHH Mortgage. “We have built a servicing platform that delivers industry-leading performance, supported by an experienced team with a customer-first focus and innovative technology solutions. We are proud of the work we do for our customers, clients, investors and the housing industry, and we look forward to continuing to deliver on our commitments to all those we serve.” STAR Performer recognition is reserved for top performing servicers. For 2024, STAR Program participants are measured on the basis of their performance managing General Servicing (Transition to 60+ and Investor Reporting Score), Solution Delivery (60+ to Cure, Retention Efficiency, Liquidation Efficiency, and Six-Month Modification Performance), and Timeline Management (Transition to Beyond Time Frame). Each servicer’s performance in these metrics is compared against the performance of other Fannie Mae loans with similar credit characteristics. PHH serviced or subserviced approximately 1.4 million loans with a total unpaid principal balance of more than $300 billion on behalf of approximately 4,000 investors and 125 subservicing clients as of December 31, 2024. The Company’s extensive servicing capability includes forward, reverse, business purpose residential and small-balance commercial mortgages. 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. For Further Information Contact: Dico Akseraylian, SVP, Corporate Communications(856) 917-0066mediarelations@onitygroup.com

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