Onity Group received regulatory approval to sell its reverse mortgage servicing portfolio and certain assets to Finance of America Reverse (FAR), involving about 20,000 loans with a $5.1 billion balance. The deal, expected to net $70-80 million, will have Onity act as subservicer for three years and stop originating reverse mortgages. Additionally, Onity launched a $20 million share repurchase program to enhance shareholder value and deploy capital strategically. The transaction is pending customary closing conditions, with further updates to come.
Ondo Finance has introduced the first tokenized stock representations backed by DTCC tokenized entitlements, joining major financial firms in a significant tokenization initiative. This move highlights Ondo's unique position in building infrastructur...
Leading Japanese companies, startups, and research institutions are developing specialized AI models using NVIDIA Nemotron open models to address Japan's unique language, industrial, and workforce challenges. These AI applications range from enterpri...
ERock, Inc. received a buy rating due to its innovative modular natural-gas power systems that help data centers avoid long waits for permanent grid power. The company has a strong $1.3 billion backlog supported by customer deposits, providing clear ...
IBM's business model remains strong despite a 7% decline in mainframe infrastructure revenue, supported by loyal legacy customers and solid free cash flow. Software growth, especially an 11% increase in Red Hat revenue, helps offset mainframe challen...
BMW is recalling 29,119 plug-in hybrid sedans due to a potential fire risk caused by corrosion in the engine starter's electrical relay. This defect can lead to a short circuit and overheating even when the vehicle is parked with the ignition off. Th...
