Onity Group Announces Appointment of Robert Welborn to Board of Directors

WEST PALM BEACH, Fla., Oct. 06, 2025 (GLOBE NEWSWIRE) -- Onity Group Inc. (NYSE:ONIT) ("Onity" or the "Company") today announced the appointment of Robert S. Welborn to its Board of Directors ("Board"), effective October 1, 2025.

"We are very pleased to welcome Robert to the Onity Board," said Glen A. Messina, Chair, President and CEO of Onity. "Robert brings deep domain knowledge and extensive experience in driving business insights, growth and transformation through the application of data science and analytics across various industries, including at Meta, General Motors, and USAA. His expertise will be invaluable as we continue to pursue our technology innovation agenda to deliver unparalleled performance and value for our customers while navigating an ever-evolving industry landscape. I look forward to working alongside Robert and our dedicated Board to continue executing on our strategic initiatives and maximizing value for our shareholders."

In addition, DeForest B. Soaries Jr. has notified the Board that he has decided not to stand for re-election at Onity's 2026 Annual Meeting of Shareholders scheduled for May 20, 2026. Dr. Soaries will continue to serve on the Board until that time.

"On behalf of the Board, I want to thank DeForest for his countless contributions to Onity since joining the Board in 2015, and for his leadership and guidance throughout the evolution of our Company," said Messina. "We are deeply grateful for DeForest's dedication, partnership, and unwavering commitment to our Company and shareholders. We wish him all the best in the future."

Robert S. Welborn Background

Mr. Welborn has served as a director of NOV Inc. (NYSE:NOV), an equipment and technology provider to the global energy industry, since 2021. From 2020 through 2024, Mr. Welborn served in leadership positions at Meta Inc., most recently as the Head of Data Science and prior to that as Head of Programs Data Science, Small Business Group. Before joining Meta Inc., he held various positions within General Motors Company between 2018 and 2020, including Global Chief Data and Analytics Officer. Between 2009 and 2017, Mr. Welborn served in several positions of increasing responsibility at USAA including Chief Data Scientist. Mr. Welborn holds a Bachelor of Science in Engineering from Texas A&M University and a Master of Business Administration from the University of California, San Diego.

About Onity Group

Onity Group Inc. (NYSE:ONIT) is a leading non-bank financial services company providing mortgage servicing and originations solutions through its primary brands, PHH Mortgage and Liberty Reverse Mortgage. PHH Mortgage is one of the largest servicers in the country, focused on delivering a variety of servicing and lending programs to consumers and business clients. Liberty is one of the nation's largest reverse mortgage lenders dedicated to providing loans that help customers meet their personal and financial needs. We are headquartered in West Palm Beach, Florida, with offices and operations in the United States, the U.S. Virgin Islands, India and the Philippines, and have been serving our customers since 1988. For additional information, please visit onitygroup.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by a reference to a future period or by the use of forward-looking terminology such as "look forward to" and references to goals, strategies, and agendas, although not all forward-looking statements contain these words. Forward-looking statements in this press release include statements relating to the expected contributions of our new director, advancing the Company's technology innovation agenda to deliver performance and value for our customers, executing on the Company's strategic initiatives, and maximizing shareholder value.

Forward-looking statements involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, changes in market conditions, the industry in which Onity operates, and its business, the actions of governmental entities and regulators, developments in litigation matters, and other risks and uncertainties detailed in Onity's reports and filings with the SEC, including its annual report on Form 10-K for the year ended December 31, 2024 and subsequent reports. Anyone wishing to understand Onity Group Inc.'s business should review its SEC filings. Onity's forward-looking statements speak only as of the date they are made and Onity disclaims any obligation to update or revise forward-looking statements whether as a result of new information, future events or otherwise.

For Further Information Contact:

Investors:

Valerie Haertel, VP, Investor Relations

(561) 570-2969

[email protected]

Media:

Dico Akseraylian, SVP, Corporate Communications

(856) 917-0066

[email protected]