West Palm Beach, Florida-based Onity Group, the parent company of top-five reverse mortgage lender Liberty Reverse Mortgage, recorded a decline in income during the second quarter of 2024.

Despite the financial result, Onity — formerly known as Ocwen Financial Corp. — is doubling down on the reverse mortgage space by entering into an agreement to acquire the reverse lending assets of Mortgage Assets Management (MAM) from Waterfall Asset Management.

This is according to the company’s second-quarter earnings results and a subsequent conference details ⇒

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