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Mr Cooper Group Inc - COOP STOCK NEWS

Welcome to our dedicated page for Mr Cooper Group news (Ticker: COOP), a resource for investors and traders seeking the latest updates and insights on Mr Cooper Group stock.

Mr. Cooper Group Inc (NASDAQ: COOP) maintains this dedicated news hub for stakeholders seeking authoritative updates about one of America's leading mortgage servicers. Our curated collection features official announcements, financial disclosures, and strategic developments from the company's core operations in loan servicing and origination.

Investors and industry observers will find timely updates on earnings reports, regulatory compliance matters, and operational milestones. The repository includes essential documents such as quarterly financial results, leadership updates, and partnership announcements that shape COOP's position in the housing finance sector.

Key coverage areas include mortgage servicing innovations, loan portfolio management strategies, and market expansion initiatives. All content undergoes verification to ensure accuracy and relevance for financial decision-making. Regular updates reflect COOP's activities across its servicing platforms and direct-to-consumer lending channels.

Bookmark this page for streamlined access to Mr. Cooper Group's latest corporate communications. Combine these verified updates with broader market analysis to maintain a comprehensive view of the mortgage industry landscape.

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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.

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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.

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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.

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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.

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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.

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Mr. Cooper Group Inc. (NASDAQ: COOP) will announce its financial results for Q1 2022 on April 28, 2022, at 4:30 P.M. ET. The press release and investor presentation will be available thirty minutes prior on their website. Pre-registration for the call is open, providing participants with a toll-free number and unique ID for access. A replay of the call will be available post-conference until May 12, 2022. Mr. Cooper is a leading home loan servicer in the U.S., offering various services through its brands Mr. Cooper® and Xome®.

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Mr. Cooper Group Inc. (NASDAQ: COOP) has finalized a deal with Sagent M&C, LLC for the sale of intellectual property rights related to its cloud-based mortgage servicing technology. This agreement allows Mr. Cooper to acquire an equity stake in Sagent and appoint two directors to Sagent’s board. The collaboration aims to develop the industry's first cloud-native, homeowner-first servicing platform. Additionally, Mr. Cooper will engage Sagent as a multi-year customer, enhancing its service offerings in the mortgage sector.

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Mr. Cooper Group Inc. and Sagent M&C, LLC have entered a multi-year agreement to enhance mortgage servicing through cloud technology. Sagent will acquire Mr. Cooper's proprietary technology, allowing them to create a homeowner-first servicing platform. Mr. Cooper will receive a minority equity stake in Sagent and become a long-term customer. This partnership aims to accelerate software modernization across top lenders, enhancing user experience in mortgage servicing. Key executives from Mr. Cooper will join Sagent's board, reinforcing strategic alignment.

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Mr. Cooper Group reported a strong fourth quarter with a net income of $155 million or $2.01 per diluted share, achieving a ROCE of 19%. The company's servicing UPB grew to $710 billion, a 6% increase quarter-over-quarter and 17% year-over-year. They repurchased 1.3 million shares for $56 million and authorized an additional $200 million for stock buybacks, totaling $252 million. The company ended the year with record capital levels and improvements in tangible book value, now at $45.64 per share.

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Mr Cooper Group Inc

Nasdaq:COOP

COOP Rankings

COOP Stock Data

7.12B
62.63M
3.62%
94.83%
3.02%
Mortgage Finance
Finance Services
Link
United States
COPPELL