OneMain Holdings, Inc., incorporated on August 5, 2013, is a financial services holding company. The Company is a consumer finance company, which is engaged in providing personal loan products; credit and non-credit insurance, and service loans owned by it and service or subservice loans owned by third-parties. The Company's segments include Consumer and Insurance; Acquisitions and Servicing; Real Estate, and Other. It is engaged in pursuing strategic acquisitions and dispositions of assets and businesses, including loan portfolios or other financial assets. The Company's subsidiaries include Springleaf Finance, Inc. (SFI) and Independence Holdings, LLC (Independence). SFI's principal subsidiary is Springleaf Finance Corporation (SFC), and Independence's principal subsidiary is OneMain Financial Holdings, LLC (OMFH). SFC and OMFH are financial services holding companies with subsidiaries engaged in the consumer finance and insurance businesses.
Consumer and Insurance
The Company originates and services personal loans (secured and unsecured) through two business divisions: branch operations and centralized operations. It also offers credit insurance (life insurance, disability insurance, and involuntary unemployment insurance), non-credit insurance, and ancillary products, such as auto membership plans. As of December 31, 2016, its combined branch operations included over 1,800 branch offices in 44 states. Its centralized operations underwrite and process certain loan applications that it receives from its branch operations or through an Internet portal. If the applicant is located near an existing branch (in footprint), its centralized operations make the credit decision regarding the application and then request, but do not require, the customer to visit a nearby branch for closing, funding and servicing. If the applicant is not located near a branch (out of footprint), its centralized operations originate the loan.
The Company's insurance business is conducted through Springleaf insurance subsidiaries, Merit Life Insurance Co. (Merit) and Yosemite Insurance Company (Yosemite), and OneMain's insurance subsidiaries, American Health and Life Insurance Company (AHL) and Triton Insurance Company (Triton). The Company offers optional credit insurance products to its customers, including credit life insurance, credit disability insurance, credit involuntary unemployment insurance and collateral protection insurance. It also offers optional, non-credit insurance policies, which are primarily traditional level-term life policies with very limited underwriting.
Acquisitions and Servicing
The Company's Acquisitions and Servicing segment included its interest expense in the SpringCastle Portfolio. These loans consisted of unsecured loans and loans secured by subordinate residential real estate mortgages and included both closed-end accounts and open-end lines of credit. The Company will continue to provide the servicing for these loans pursuant to a servicing agreement, which it services as unsecured loans.
Real Estate
The Company services and holds real estate loans secured by first or second mortgages on residential real estate. Real estate loans previously originated through its branch offices or previously acquired or originated through centralized distribution channels are serviced by MorEquity and subserviced by Nationstar Mortgage LLC (Nationstar); Select Portfolio Servicing, Inc., and its centralized operations. Investment funds managed by affiliates of Fortress indirectly own a majority interest in Nationstar.
601 NW 2nd St
The company trades on NYSE exchange. The company headquarter is located in Evansville, IN, United States. The company was established in the 1920.| Ticker | OMF |
| Long Name | OneMain Holdings, Inc. |
| Short Name | OneMain |