"PHH Mortgage Corp. (PMC) and PHH Asset Services (PAS) will guarantee the notes. The closing is subject to market and other customary conditions. The net proceeds from the offering will be used for general corporate purposes, including the repayment of certain indebtedness of PMC and PAS, the company said in a news release. Onity has recently made several strategic moves, including the sale in November of $9.6 billion in mortgage servicing rights (MSRs) to Finance of America."
"The net proceeds from the offering will be used for general corporate purposes, including the repayment of certain indebtedness of PMC and PAS, the company said in a news release. Onity has recently made several strategic moves, including the sale in November of $9.6 billion in mortgage servicing rights (MSRs) to Finance of America. As a result of the transaction, PHH and Liberty will no longer originate reverse mortgages. The deal is expected to close in the first quarter of 2026."
PHH Mortgage Corp. (PMC) and PHH Asset Services (PAS) will guarantee the notes, with the closing subject to market and customary conditions. Net proceeds from the offering will be used for general corporate purposes, including repayment of certain indebtedness of PMC and PAS. Onity sold $9.6 billion in mortgage servicing rights (MSRs) in November to Finance of America. As a result, PHH and Liberty will no longer originate reverse mortgages. The transaction is expected to close in the first quarter of 2026. Several lenders, including United Wholesale Mortgage, CrossCountry Mortgage, Rithm Capital and Rocket Mortgage, have issued debt recently to leverage refinancing opportunities and extend maturities.
Read at www.housingwire.com
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