secwatch.observer — SEC 8-K summary
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Issuer:     ONITY GROUP INC. (ONIT)
CIK:        0000873860
Form:       8-K
Filed at:   2025-11-18T23:59:59+00:00
Accession:  0001493152-25-024065
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Onity Group sells $9.6B reverse mortgage portfolio to Finance of America Reverse for net proceeds of $100-110M
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- Selling ~40,000 HECM loans with $9.6B UPB; net proceeds estimated at $100-110M after adjustments.
- PHH will subservice sold MSRs under a three-year agreement; FAR commits to minimum new subservicing volume.
- PHH to discontinue reverse originations upon closing; some US-based employees expected to transfer to FAR.
- Transaction expected to close in Q1 2026, subject to regulatory approvals and customary conditions.
- Onity plans to use net proceeds to support growth, reduce debt, and explore share repurchase program.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/873860/000149315225024065/0001493152-25-024065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/873860/000149315225024065/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-25-024065

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer