secwatch.observer — SEC 8-K summary
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Issuer:     ONITY GROUP INC. (ONIT)
CIK:        0000873860
Form:       8-K
Filed at:   2024-11-05T23:59:59+00:00
Accession:  0001493152-24-043611
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Onity Q3 net income $21M, EPS $2.65; issues Series B preferred for $55M assets
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- GAAP net income $21M, diluted EPS $2.65; adjusted pre-tax income $35M, adjusted pre-tax ROE 31%.
- Issued 2,111,787 Series B Preferred shares to Waterfall for assets with $55.1M book value, including $3B UPB HECM loans and MSRs plus $20M cash.
- Series B Preferred: 7.875% cumulative dividend on $25 liquidation preference, redeemable after 2028, limited voting rights.
- Debt-to-equity ratio improved to 2.9x from 3.9x in Q4 2023; book value per share $59.50 as of Sep 30, 2024.
- Total servicing additions of $18B ($8B subservicing) in Q3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/873860/000149315224043611/0001493152-24-043611-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/873860/000149315224043611/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-043611

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