Onity Group Shares Jump on Stock Buyback, Sale Approval

Dow Jones

Jun 02

By Dean Seal

Shares of Onity Group rose after the company launched a stock buyback and said the sale of its reverse mortgage servicing portfolio had received regulatory approval.

The stock was up 12% at $37.94 on Tuesday. Shares are still down about 17% since the start of the year.

The financial-services company said before the opening bell that its board has authorized a program to repurchase up to $20 million of Onity shares.

The company has also gotten the go-ahead from regulators for its sale of reverse mortgage servicing rights on 20,000 Ginnie Mae home equity conversion mortgage loans, with an unpaid principal balance of more than $5 billion, to Finance of America Reverse LLC.

Net proceeds from the deal are expected to be between $70 million and $80 million, based on asset book values as of April 30, the company said.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

June 02, 2026 11:12 ET (15:12 GMT)

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Shares are still down about 17% since the start of the year. \n</p>\n<p>\n  The financial-services company said before the opening bell that its board has authorized a program to repurchase up to $20 million of Onity shares. \n</p>\n<p>\n  The company has also gotten the go-ahead from regulators for its sale of reverse mortgage servicing rights on 20,000 Ginnie Mae home equity conversion mortgage loans, with an unpaid principal balance of more than $5 billion, to Finance of America Reverse LLC. \n</p>\n<p>\n  Net proceeds from the deal are expected to be between $70 million and $80 million, based on asset book values as of April 30, the company said. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 02, 2026 11:12 ET (15:12 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ONIT","symbol_name":"Onity Group Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2640941755","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2640941755","pubTimestamp":1780413120,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Onity Group rose after the company launched a stock buyback and said the sale of its reverse mortgage servicing portfolio had received regulatory approval.The stock was up 12% at $37.94 on Tuesday. 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Shares are still down about 17% since the start of the year. \n\n\n  The financial-services company said before the opening bell that its board has authorized a program to repurchase up to $20 million of Onity shares. \n\n\n  The company has also gotten the go-ahead from regulators for its sale of reverse mortgage servicing rights on 20,000 Ginnie Mae home equity conversion mortgage loans, with an unpaid principal balance of more than $5 billion, to Finance of America Reverse LLC. \n\n\n  Net proceeds from the deal are expected to be between $70 million and $80 million, based on asset book values as of April 30, the company said. \n\n\n \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 02, 2026 11:12 ET (15:12 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}