Research Feed
ONIT: 55% P/E Discount to Industry on 16% ROE, FHA Headwind Quantified at 4M
Onity Group (ONIT) trades at 3.9x forward P/E — a 55% discount to the 8.7x industry median for mortgage servicers — despite consensus earnings implying 16% ROE, above management's 13-15% guidance. The discount reflects legitimate risks: $14M Q4 MSR runoff from FHA rule changes (October 2025 effectiv