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NY Community Bancorp Subsidiary Selling Residential Mortgage Servicing Business For $1.4B

A subsidiary of New York Community Bancorp, Flagstar Bank, is selling its residential mortgage servicing business to Mr. Cooper Group Inc. for about $1.4 billion. The sale includes mortgage servicing rights and the third-party origination platform. NYCB has struggled in the past year with its acquisition of Signature Bank, one of a pair of banks that failed in early 2023 due to rising interest rates. The bank has had to get multiple lifelines from investors, and in exchange the bank is restructuring its entire business and balance sheet to make both the Signature purchase, as well as ...

Small Stocks Are About To Take Over? Wall Street Has Heard That Before

NEW YORK (AP) — Suddenly, smaller stocks seem to be making bigger noise on Wall Street. After getting trounced by their larger rivals for years, some of the smallest stocks on Wall Street have shown much more life recently. Hopes for coming cuts to interest rates have pushed investors to ...

Styling On A Budget

NEW YORK (AP) — Walmart has spent three years overhauling its mix of adult apparel to make it stylish as well as sensible for middle America. Now, the nation’s largest retailer is seizing the back-to-school shopping season to take another shot at fashion respectability. The company plans ...

Dollar General To Pay $12 Million Fine To Settle Alleged Workplace Safety Violations

NEW YORK (AP) — Dollar General has agreed to pay a $12 million fine and improve conditions at its thousands of retail stores nationwide to make them safer for workers, the U.S. Department of Labor said Thursday. The discount retailer and the Occupational Safety and Health Administration reached the settlement to resolve alleged violations that included unsafe storage, blocked emergency exits and fire extinguishers, and inaccessible electrical panels. If inspectors find similar problems in the future, Dollar General may be fined $100,000 a day for any that are not resolved within 48 ...

Netflix’s Subscriber And Earnings Growth Gather More Momentum

Netflix’s subscriber and earnings growth accelerated in its latest quarter as the video streaming service benefits from a crackdown on freeloading viewers, an expansion into advertising and an acclaimed programming lineup. The results announced Thursday painted a portrait of a company still gathering momentum after a jarring decrease in subscribers during the first half of 2022 prompted a change in direction. Netflix added 8 million subscribers during the April-June period, marking a 37% increase over the same time last year. It was the sixth-consecutive quarter of that Netflix’s ...