Mr. Cooper Group Inc. - COOP STOCK NEWS

Xome has appointed James Curl as Senior Vice President and Chief Technology Officer, aiming to enhance digital transformation and innovation within the company. Curl, who has over 15 years of experience from leading firms like T-Mobile and Deloitte, will oversee Xome's technology initiatives, continuing to strengthen its foundation and services. CEO Mike Rawls expressed confidence in Curl's ability to further improve technology solutions and foster a culture of innovation as the company aims to advance its auction platform.

Mr. Cooper Group Inc. (NASDAQ: COOP) announced that key executives, including Jay Bray (Chairman and CEO), Chris Marshall (Vice Chairman and President), and Jaime Gow (CFO), will present at the Barclays Global Financial Services Conference on September 13, 2022, at 9:00 A.M. Eastern Time. A live webcast will be available on the company’s investor website, with a replay accessible until October 11, 2022.

Mr. Cooper provides servicing and origination services focused on single-family residences across the U.S.

Mr. Cooper Group Inc. (NASDAQ: COOP) reported a strong second quarter with a net income of $151 million or $2.03 per diluted share, benefiting from a mark-to-market adjustment of $196 million. The servicing UPB increased to $804 billion, a 23% year-over-year growth. Despite a 33% decline in funded volume quarter-over-quarter, the company achieved a 60% recapture rate for refinancing. Total tangible book value per share rose to $54.51. The company also repurchased 2.3 million shares for $100 million, ending the quarter with strong capital and liquidity.

Mr. Cooper Group Inc. (NASDAQ: COOP) will discuss its Q2 2022 financial results on July 27, 2022 at 10:00 A.M. ET. Interested participants can pre-register for the call through the provided link. The audio webcast of the call will be available under the investor section of www.mrcoopergroup.com and will be accessible for replay until August 10, 2022. As one of the largest home loan servicers in the U.S., Mr. Cooper focuses on delivering a range of servicing and lending products.

Xome has partnered with the National Community Stabilization Trust (NCST) to enhance access to affordable housing in the U.S. This collaboration allows mission-driven buyers exclusive first-look access to properties on Xome.com, assisting in the revitalization of homes for low-to-moderate income families. The program aims to align with the White House's goal of creating and selling 100,000 properties to eligible buyers over three years. With targeted marketing campaigns and the ability to inspect vacant properties, this initiative promotes sustainable homeownership.

Mr. Cooper Group reported a first-quarter net income of $658 million, translating to $8.59 per diluted share. This growth includes a $552 million mark-to-market gain. The company's servicing portfolio reached $796 billion, up 27% year-over-year. Key highlights include a $223 million pre-tax gain from the Sagent transaction and share repurchases totaling $35 million. However, the company noted a 33% decrease in funded volume from the prior quarter. CEO Jay Bray emphasized the focus on customer experience amidst challenges in the originations sector due to rising interest rates.

Mr. Cooper Group Inc. (NASDAQ: COOP) has appointed Jaime Gow as Executive Vice President and Chief Financial Officer, succeeding Chris Marshall as part of a leadership transition. Gow, who has been with the company since 2019, previously served as Deputy CFO. Additionally, Ethan Elzen has been promoted to Executive Vice President, Business Development and Operational Finance. Both executives bring extensive financial expertise that is expected to drive the company's growth towards becoming a $1 trillion servicer, according to CEO Jay Bray.