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Sep 30, 2023
Onity Q3 2023 Earnings Report
Reported a profitable quarter driven by a balanced business model and strong performance in servicing, with positive earnings in originations despite industry headwinds.
Key Takeaways
Ocwen Financial Corporation announced its third quarter 2023 results, reporting a GAAP net income of $8 million and an adjusted pre-tax income of $10 million. The company highlighted the strength of its diversified servicing platform and positive earnings in originations, along with the extension of their MSR Asset Vehicle investment period with Oaktree and renewal of their subservicing relationship with Rithm.
Reported GAAP net income of $8 million for the third quarter.
Achieved an adjusted pre-tax income of $10 million.
Added $15 billion from subservicing additions and MSR capital partner sales in Q3 2023, an increase of nearly $5 billion from Q2 2023.
Portfolio with MSR capital partners at $89 billion, up 12% compared to Q2 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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