Waterfall Asset Management Expands Partnership with Onity Through Transfer of Reverse Mortgage Assets
Onity Group Inc. (ONIT)
Company Research
Source: PR Newswire
NEW YORK, Aug. 13, 2024 /PRNewswire/ -- Waterfall Asset Management, LLC ("Waterfall" or the "Firm"), a global alternative investment adviser with a focus on specialized asset oriented markets, announced today that it has entered into a letter of intent with Onity Group Inc. (NYSE: ONIT)("Onity"), a leading non-bank mortgage servicer and originator that Waterfall has long partnered with on reverse mortgage servicing, under which Onity will acquire reverse mortgage assets from Mortgage Assets Management, LLC ("MAM"), a subsidiary of investment funds managed by Waterfall."This transaction is an exciting development for Waterfall, showcasing our commitment to growing our reverse mortgage initiatives through partnerships with top firms like Onity," said Leo Wong, Partner at Waterfall. "This strategic partnership combines our capital and expertise with Onity's operational capabilities, enabling us to seek exceptional investment opportunities. We look forward to expanding this collaboration
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