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    Timothy D'Agostino • B. Riley Securities

    Timothy D'Agostino's questions to Onity Group Inc (ONIT) leadership

    Timothy D'Agostino's questions to Onity Group Inc (ONIT) leadership • Q2 2025

    Question

    Timothy D'Agostino, on behalf of Randy Binner from B. Riley Securities, inquired about the company's perspective on M&A activity within the mortgage servicing sector, especially in contrast to recent origination-focused transactions in the industry.

    Answer

    CEO, President & Chair Glen Messina responded that M&A in the servicing sector is a trade-off against acquiring assets in the bulk market. He suggested that as long as the bulk MSR market remains robust, it will be the preferred channel for growth. However, if that supply diminishes while demand for servicing assets remains high, M&A activity on the servicing side could increase.

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    Timothy D'Agostino's questions to New York Mortgage Trust Inc (NYMT) leadership

    Timothy D'Agostino's questions to New York Mortgage Trust Inc (NYMT) leadership • Q1 2025

    Question

    Timothy D'Agostino of B. Riley Securities, on behalf of Randy Binner, asked for management's perspective on the potential impact of Government-Sponsored Enterprise (GSE) reform on NYMT's business and the broader mortgage market.

    Answer

    CEO Jason Serrano explained that NYMT's credit investments are primarily outside the GSE landscape. He stated that while significant GSE reform could increase mortgage rates, he does not see it as a near- or medium-term risk, noting the transition would likely take years and is not expected under the current or a potential new administration.

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