The company generated $294 million in revenue during the first quarter and $247 million a year earlier. Onity was able to increase scale in servicing while selling more than $5 billion in reverse mortgage assets from its portfolio to Finance of America. The company remains involved in reverse mortgage subservicing and has been building out expertise in that area as well as commercial, which it has found profitable. In line with its growth in the broader servicing portfolio Onity sees opportunity in traditional mortgage servicing rights. The restructuring is aimed at reducing Onity's exposure to reverse mortgage assets that have been particularly volatile, Messina said.