Rithm Capital will no longer use Onity Group’s servicing subsidiary, PHH Mortgage Corp., as the subservicer of a $33 billion portfolio primarily composed of pre-2008 loans — ending an agreement that has lasted nearly a decade.

Onity, which released its third-quarter earnings on Thursday, said it was notified by Rithm on Oct. 31 of its intent to not renew the subservicing contract, with the termination taking effect on Jan. 31, 2026. 

Most of the portfolio transfer is expected to occur during the first half of 2026. But $8.5 billion in unpaid principal balance (UPB) details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com