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Mr. Cooper Group Inc. (NASDAQ: COOP) has entered into a definitive agreement to sell its Xome Field Services unit to Cyprexx Services LLC. The sale, expected to close in Q4 2021, is not anticipated to significantly impact the company's financial position. CEO Jay Bray emphasized the transaction aligns with Mr. Cooper's strategic focus on mortgage originations and servicing, areas the company sees as growth opportunities. The company expressed gratitude to its Field Services team for their contributions.
Positive
Strategic focus shift towards mortgage originations and servicing.
No significant financial impact from the sale of Xome Field Services.
Negative
None.
DALLAS--(BUSINESS WIRE)--
Mr. Cooper Group Inc. (“Mr. Cooper” or “the Company”) announced today that it has entered into a definitive agreement to sell its Xome Field Services unit to Cyprexx Services LLC (“Cyprexx”). The sale is expected to close during the fourth quarter of 2021, subject to customary conditions. The terms of the transaction have not been disclosed, however, the Company does not view the financial impact as significant.
“This transaction is consistent with our strategic focus on mortgage originations and servicing, where we see exciting growth opportunities,” said Jay Bray, Chairman and CEO of Mr. Cooper. “We thank all of our team members in the Field Services unit for their hard work and strong results and look forward to a smooth transition to Cyprexx.”
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.
