Executives at Onity Group have managed to preserve “marginal profitability” in their reverse mortgage origination operations, despite ongoing headwinds in the market.

“Higher rates for an extended period have limited the amount of benefit a reverse borrower can realize on a new loan,” Sean O’Neil, Onity‘s chief financial officer, said during the company’s second-quarter earnings call on Tuesday morning. “Reverse experienced lower volumes on lower margins but was still able to deliver a profitable quarter.” 

Onity — the parent company of PHH Mortgage Corp. and its subsidiary, Liberty Reverse details ⇒