Revenue: As of FY2026 Q2, the actual value is USD 282.9 M, missing the estimate of USD 292.5 M.

EPS: As of FY2026 Q2, the actual value is USD -1.53, missing the estimate of USD 1.48.

EBIT: As of FY2026 Q2, the actual value is USD 32.5 M.

Second Quarter 2026 Key Financial Highlights

Onity Group Inc. reported a net loss attributable to common stockholders of - $13 million for the second quarter of 2026, with a return on equity (ROE) of -8%. The company’s adjusted pre-tax income was $14 million, resulting in an annualized adjusted ROE of 9%. This net loss included a - $9 million pre-tax cost related to the reverse asset sale and legacy subservicing transfer, as well as - $24 million in pre-tax unfavorable asset fair value changes.

Revenue

Total revenue for Q2 2026 was $283 million, an increase of 15% compared to Q2 2025. Adjusted revenue reached $281 million, up 24% year-over-year.

Statement of Operations (Q2 2026 vs. Q2 2025)

• Servicing and subservicing fees were $229.3 million in Q2 2026, compared to $211.3 million in Q2 2025.
• Gain on reverse loans and HMBS-related borrowings, net, was $3.8 million in Q2 2026, down from $11.9 million in Q2 2025.
• Gain on loans held for sale, net, was $29.4 million in Q2 2026, up from $10.4 million in Q2 2025.
• Other revenue, net, was $20.4 million in Q2 2026, compared to $13.0 million in Q2 2025.
• Total revenue was $282.9 million in Q2 2026, compared to $246.6 million in Q2 2025.
• MSR valuation adjustments, net, were - $70.5 million in Q2 2026, compared to - $27.3 million in Q2 2025.
• Total operating expenses were $139.0 million in Q2 2026, up from $109.5 million in Q2 2025.
• Interest income was $55.5 million in Q2 2026, compared to $32.1 million in Q2 2025.
• Interest expense was - $103.1 million in Q2 2026, compared to - $75.6 million in Q2 2025.
• Income (loss) before income taxes was - $15.1 million in Q2 2026, compared to $22.8 million in Q2 2025.
• Net Income (Loss) was - $11.9 million in Q2 2026, compared to $21.5 million in Q2 2025.

Operational Metrics

Total servicing additions amounted to $42 billion in Q2 2026, with originations contributing over $15 billion, marking a quarterly record and a 64% increase from Q2 2025. The ending servicing unpaid principal balance (UPB) grew to $341 billion, up 10% compared to Q2 2025. First-half 2026 subservicing additions were $35 billion, exceeding prior guidance. Funded recapture volume increased by 3.1x compared to Q2 2025. Approximately $22 billion of Rithm servicing UPB was transferred in the first half of 2026, with $8 billion remaining, of which $4 billion is expected to transfer subject to consents. Servicing advances decreased by 33% from Q2 2024 to $369 million, while owned forward servicing UPB increased by 44% from Q2 2024 to $176 billion.

Balance Sheet Highlights (June 30, 2026 vs. June 30, 2025)

• Cash and cash equivalents were $196.6 million in Q2 2026, compared to $194.3 million in Q2 2025.
• Restricted cash was $196.3 million in Q2 2026, compared to $62.3 million in Q2 2025.
• Mortgage servicing rights (MSRs), at fair value, were $3,208.8 million in Q2 2026, compared to $2,632.6 million in Q2 2025.
• Advances, net, were $369.5 million in Q2 2026, compared to $461.4 million in Q2 2025.
• Loans held for sale, at fair value, were $3,601.9 million in Q2 2026, compared to $2,048.3 million in Q2 2025.
• Reverse loans held for investment pooled into HMBS, at fair value, were $3,640.6 million in Q2 2026, compared to $0 in Q2 2025.
• Total Assets were $12,350.3 million in Q2 2026, compared to $16,531.3 million in Q2 2025.
• HMBS-related borrowings, at fair value, were $3,610.9 million in Q2 2026, compared to $10,253.1 million in Q2 2025.
• MSR related financing liabilities, at fair value, were $729.0 million in Q2 2026, compared to $818.1 million in Q2 2025.
• Mortgage warehouse facilities were $2,061.7 million in Q2 2026, compared to $1,765.6 million in Q2 2025.
• Total Liabilities were $11,690.5 million in Q2 2026, compared to $15,999.5 million in Q2 2025.
• Stockholders’ Equity was $609.9 million in Q2 2026, compared to $481.9 million in Q2 2025.

Capital Management

Onity Group Inc. repurchased 141,343 shares of common stock during Q2 2026, utilizing $5.8 million. Book value per share was $73, an increase of $13 compared to Q2 2025.

2026 Outlook

Onity Group Inc. maintained its adjusted ROE guidance range at 10% - 15%, but expects to be at the lower end due to persistent geopolitical instability, inflation, and market volatility. The company reaffirmed its previous guidance on servicing UPB growth, MSR hedge effectiveness, and operating efficiency.