Fitch Upgrades PHH Mortgage's Ratings, Affirms Commercial Servicer Ratings.

PHH Mortgage, a subsidiary of Onity Group Inc., has had its residential primary servicer ratings upgraded by Fitch Ratings. The upgrades include Prime product upgraded to 'RPS2-' from 'RPS3+', Subprime product upgraded to 'RPS2-' from 'RPS3+', and Alt-A product upgraded to 'RPS2-' from 'RPS3'. The company's commercial small balance primary and special servicer ratings were affirmed at 'SBPS2-' and 'SBSS2-', respectively, and the residential master servicing rating was affirmed at 'RMS3'.

PHH Mortgage, a subsidiary of Onity Group Inc. (NYSE: ONIT), has received significant upgrades to its residential primary servicer ratings from Fitch Ratings. The upgrades, announced on June 4, 2025, reflect the company's robust performance and strategic growth initiatives.

The key upgrades 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'

Additionally, Fitch affirmed PHH's commercial small balance primary and special servicer ratings at 'SBPS2-' and 'SBSS2-', respectively, and the residential master servicing rating at 'RMS3'.

Scott Anderson, Executive Vice President and Chief Servicing Officer at PHH Mortgage, commented, "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."

The upgrades are attributed to several factors, including PHH's growth strategy and diversification between originations and servicing businesses, industry recognition for servicing excellence, and the acceleration of growth through increased MSR retention and improved recapture rates in its Consumer Direct channel. Enhanced technology for increased customer engagement and personalized services, along with a multi-layered enterprise risk management framework, also contributed to the upgrades.

Onity Group Inc., the parent company of PHH Mortgage, is a leading non-bank financial services company providing mortgage servicing and originations solutions. PHH Mortgage is one of the largest servicers in the country, delivering a variety of servicing and lending programs to consumers and business clients. Liberty Reverse Mortgage, another brand under Onity Group, is one of the nation's largest reverse mortgage lenders.

For more information on Fitch’s ratings announcement, please refer to the official press release [1].

References:
[1] https://www.globenewswire.com/news-release/2025/06/04/3093400/496/en/PHH-Mortgage-Receives-Residential-Servicing-Ratings-Upgrade-from-Fitch-Ratings.html