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PHH Mortgage Receives Residential Servicing Ratings Upgrade from Fitch Ratings

1. Fitch Ratings upgraded PHH Mortgage's residential primary servicer ratings significantly. 2. The ratings upgrade underscores PHH's strong operational and financial discipline. 3. PHH has diversified services and industry recognition that enhance its market position. 4. Innovative technology implementation is aimed at improving customer engagement. 5. Positive ratings outlook is expected to foster growth in the mortgage sector.

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FAQ

Why Bullish?

The upgrade in ratings generally leads to increased investor confidence, similar to historical impacts on other financial firms post-ratings upgrades.

How important is it?

The upgrades indicate a strong corporate strategy and growth potential, essential for investor perceptions.

Why Short Term?

Immediate market reactions can be expected due to positive news, as seen in similar cases with other mortgage services.

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PHHFNFRDN
WEST PALM BEACH, Fla., June 04, 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 Fitch Ratings has upgraded its residential primary servicer ratings and indicated a Stable Rating Outlook. Fitch’s most recent ratings upgrades, which are generally considered Above Average, include: Prime product upgraded to ‘RPS2-’ from ‘RPS3+’Subprime product upgraded to ‘RPS2-’ from ‘RPS3+’Alt-A product upgraded to ‘RPS2-’ from ‘RPS3’Special servicing upgraded to ‘RSS2-’ from ‘RSS3’Closed-End Second Lien and HELOC products upgraded to ‘RPS3+’ from ‘RPS3’ In addition, Fitch affirmed the Company’s commercial small balance primary and special servicer ratings at ‘SBPS2-’ and ‘SBSS2-’, respectively, and residential master servicing rating at ‘RMS3’. “The ratings upgrade from Fitch reflects the strength of our balanced and diversified business and our commitment to operational and financial discipline while driving growth across multiple channels,” said Scott Anderson, Executive Vice President and Chief Servicing Officer. “We are extremely proud of the industry top-tier servicing platform we have built and our experienced team that is dedicated to creating positive outcomes for our customers. As the mortgage market and consumer needs evolve, we continue to make purposeful investments to elevate the customer experience and implement innovative technology solutions for the benefit of our customers, clients, investors and employees.” Key drivers of PHH’s upgraded and affirmed ratings and Stable Outlook: Reflect the Company’s growth strategy and diversification between Originations and Servicing businessesIndustry recognition for servicing excellence by Fannie Mae STARTM and Freddie Mac SHARPSM programs, and rated a Tier 1 servicer by HUDAcceleration of the Company’s growth strategy through increased MSR retention, expanded product offerings, and improved recapture rates in its Consumer Direct channelUtilization of enhanced technology for increased customer engagement and personalized servicesMulti-layered enterprise risk management framework with a three lines of defense approachHighly tenured management team For more information on Fitch’s ratings announcement, please read here. 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: Investors: Valerie Haertel, VP, Investor Relations(561) 570-2969shareholderrelations@onitygroup.com Media: Dico Akseraylian, SVP, Corporate Communications(856) 917-0066mediarelations@onitygroup.com

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