Mr. Cooper Announces Sale of Xome Valuations

Rhea-AI Summary

Mr. Cooper Group Inc. announced a definitive agreement to sell its Xome Valuations business to Voxtur Analytics Corp. The sale is anticipated to be finalized in the third quarter of 2021, pending customary conditions. Jay Bray, the Chairman and CEO, emphasized the transaction's role in rationalizing operations to concentrate on core businesses with significant growth potential. The financial terms of the sale are not material to Mr. Cooper's overall financial standing.

Positive

• Focus on core businesses may enhance growth opportunities.
• Smooth transition process planned for team members and clients.

Negative

• Sale of Xome Valuations business may reduce service diversification.

Mr. Cooper Group Inc. (“Mr. Cooper”) announced today that it has entered into a definitive agreement to sell its Xome Valuations business to Voxtur Analytics Corp. (“Voxtur”). The sale is expected to close in the third quarter of 2021, subject to customary conditions. Consideration for the sale is not material.

“This transaction is another example of how we are rationalizing and simplifying to focus on our core businesses, where we see tremendous opportunity for growth,” said Jay Bray, Chairman and CEO of Mr. Cooper. “We are thankful to the Valuations team for their contributions to the organization, and we will work closely with Voxtur to ensure a smooth transition for our team members and clients.”

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210823005648/en/

FAQ

What recent transaction did Mr. Cooper Group announce regarding Xome Valuations?

Mr. Cooper Group announced the sale of its Xome Valuations business to Voxtur Analytics Corp.

When is the sale of Xome Valuations expected to close?

The sale is expected to close in the third quarter of 2021.

What are the reasons behind Mr. Cooper's decision to sell Xome Valuations?

The sale is part of Mr. Cooper's strategy to rationalize operations and focus on core business areas with growth potential.

What is the significance of the sale for Mr. Cooper Group's shareholders?

The financial terms of the sale are not material, but focusing on core businesses may lead to improved growth opportunities.