Onity Group Inc. (NYSE:ONIT) ("Onity" or the "Company") today announced that its mortgage subsidiary has officially started operating under a new name, Onity Mortgage Corporation ("Onity Mortgage"), replacing its former name, PHH Mortgage Corporation ("PHH Mortgage").

Glen A. Messina, Chair, President and CEO of Onity Group, said, "Today marks another important milestone in our multi-year transformation as PHH Mortgage officially becomes Onity Mortgage. This change brings our flagship mortgage platform under the Onity brand and reflects who we are today – a top-tier, technology-enabled mortgage company with a diversified business, strong growth momentum, and a relentless focus on creating value for our customers, clients and partners."

"Our new name, derived from the phrase "on it;" and our tagline, "we get it done;" represents a company that takes action, follows through on its commitments and is relentless in creating success for its customers and stakeholders," Messina added. "With Onity Mortgage now official, we are excited to further strengthen the Onity brand across our customer base and the industry."

Onity (pronounced ON-it-ee) Mortgage leverages the current Onity logo and visual identity, creating a consistent and unified brand across the Company. Onity Mortgage has also launched redesigned and enhanced websites and other tools and communications for its clients and consumers.

The Company's reverse mortgage product brand, Liberty Reverse Mortgage, has also been rebranded under the Onity Mortgage name.