-

Mr. Cooper Completes Sale of Reverse Servicing Portfolio

DALLAS--(BUSINESS WIRE)--Mr. Cooper Group Inc. (“Mr. Cooper Group” or “the Company”) announced today that it has completed the sale of its Reverse servicing portfolio, operating under the Champion Mortgage brand, to Mortgage Assets Management, LLC and its affiliates.

“We’re pleased to complete this sale, which allows us to continue on our path of rationalizing and simplifying the business model, in order to focus on the attractive growth opportunities in our core mortgage servicing and originations segments,” said Jay Bray, Chairman and CEO of Mr. Cooper Group, and added, “We believe this transaction is a positive outcome for our Reverse customers and the team members who have supported this business.”

Vice Chairman, President and CFO Chris Marshall commented, “This transaction improves profitability and liquidity, simplifies our financial statements, and strengthens our capital ratios, which are now above our previously disclosed target of 15%.” The Company estimated that pro forma for the sale, its ratio of tangible net worth to total assets was approximately 17.5% as of September 30, 2021, consistent with its prior disclosures.

Wachtell, Lipton, Rosen & Katz acted as legal advisor to Mr. Cooper Group and Houlihan Lokey acted as financial advisor to Mr. Cooper Group.

About Mr. Cooper Group

Mr. Cooper Group Inc. (NASDAQ: COOP) provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper is one of the largest home loan servicers in the country focused on delivering a variety of servicing and lending products, services and technologies. For more information, visit www.mrcoopergroup.com.

Contacts

Investor Contact:
Kenneth Posner, SVP Strategic Planning and Investor Relations
(469) 426-3633
Shareholders@mrcooper.com

Media Contact:
Christen Reyenga, VP Corporate Communications
MediaRelations@mrcooper.com

Industry:

Mr. Cooper Group Inc.

NASDAQ:COOP
Release Versions
English

Contacts

Investor Contact:
Kenneth Posner, SVP Strategic Planning and Investor Relations
(469) 426-3633
Shareholders@mrcooper.com

Media Contact:
Christen Reyenga, VP Corporate Communications
MediaRelations@mrcooper.com

More News From Mr. Cooper Group Inc.

Mr. Cooper Group Inc. Board of Directors Declares Dividend

DALLAS--(BUSINESS WIRE)--Mr. Cooper Group Inc. (“Mr. Cooper”) today announced that its Board of Directors declared a dividend (the “Dividend”) to the holders of common stock, par value $0.01 per share, of Mr. Cooper (“Mr. Cooper common stock”), consisting of $2.00 in cash per share of Mr. Cooper common stock. The Board has fixed the close of business on September 29, 2025 as the record date for determining the holders of Mr. Cooper common stock entitled to receive the Dividend, and has fixed Oc...

Mr. Cooper Group Inc. Stockholders Approve Merger Agreement with Rocket Companies, Inc.

DALLAS--(BUSINESS WIRE)--Mr. Cooper Group Inc. (NASDAQ: COOP) (“Mr. Cooper” or the “Company”) today announced that at a special meeting of Company stockholders held earlier today, its stockholders voted to adopt the Company’s merger agreement with Rocket Companies, Inc. (“Rocket”) (NYSE: RKT). As previously announced, under the terms of the merger agreement, Mr. Cooper stockholders are entitled to receive 11 shares of Rocket Class A common stock for each share of Mr. Cooper common stock. Additi...

Mr. Cooper Group Reports Second Quarter 2025 Results

DALLAS--(BUSINESS WIRE)--Mr. Cooper Group Inc. (NASDAQ: COOP) (the “Company”), reported second quarter income before income tax expense of $277 million and net income of $198 million. Excluding other mark-to-market and other adjustments, the Company reported pretax operating income of $269 million. Adjustments included other mark-to-market net of hedges of $30 million and other items shown below in the reconciliation of GAAP and non-GAAP results. Chairman and CEO Jay Bray commented, “This was a...
Back to Newsroom