Mr. Cooper Group Inc. - COOP STOCK NEWS

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.

Mr. Cooper Group Inc. (NASDAQ: COOP) will present at the Barclays Global Financial Services Conference on September 14, 2021, at 2:00 P.M. ET. Key executives, including Jay Bray, Chris Marshall, and Jaime Gow, will engage in a fireside chat. A live webcast and presentation materials will be available on Mr. Cooper’s investor website, with a replay accessible until October 14, 2021. Mr. Cooper is a leading provider of servicing and origination services for single-family residences in the U.S.

Mr. Cooper Group Inc. (NASDAQ: COOP) announced two executive promotions aimed at enhancing team member and customer experiences. Angela Greenfeather has been promoted to Executive Vice President and Chief Human Resources Officer, bringing over 20 years of HR experience. Kelly Ann Doherty is now Chief Administrative Officer, focusing on customer experience and team culture. Jay Bray, Chairman and CEO, praised both leaders for their contributions. These strategic appointments reflect Mr. Cooper's commitment to fostering a people-first environment while improving operations.

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.

Mr. Cooper Group Inc. (NASDAQ: COOP) reported a strong second quarter with a net income of $439 million, or $4.85 per diluted share, which includes a $135 million mark-to-market charge. The pretax operating income, adjusted for various items, was $227 million. Key highlights include a $485 million gain from the sale of Title365 and strong cash reserves of $1.2 billion. Despite a pretax loss of $56 million in the Servicing segment, Originations earned $207 million in pretax income. The company emphasizes its robust balance sheet and strategic actions that aim for future growth.

Mr. Cooper Group (NASDAQ: COOP) announced key executive appointments aimed at enhancing its growth strategy and customer service. Shawn Stone joins as Executive Vice President and Chief Revenue Officer, focusing on new delivery channels and technology utilization to improve customer experiences. Jay Jones has been promoted to Executive Vice President, overseeing the Servicing business. Both leaders will support the company's goal of becoming the largest home loan provider in the U.S. Their experience and strategies are expected to drive profitable growth and strengthen the customer-centric culture.

Mr. Cooper Group Inc. (NASDAQ: COOP) will announce its financial results for Q2 2021 on July 29, 2021, at 10:00 A.M. Eastern Time. A press release and investor presentation will be available on the company's website beforehand. Participants can pre-register for the call online to receive a toll-free number and access code. A telephone replay will be available shortly after the call and can be accessed until August 14, 2021, using the provided passcode. Mr. Cooper is a leading home loan servicer with various products and services in the U.S.

Mr. Cooper Group announced the completion of the sale of Title365 to Blend Labs for $500 million on June 30, 2021. This deal included $450 million in cash and a retained interest of 9.9%. Mr. Cooper expects to record an after-tax gain of approximately $350 million from this transaction. CEO Jay Bray emphasized that the sale not only reinforces the company's growth and profitability commitment but also enhances its tangible book value and liquidity, positioning them to drive shareholder value.

Mr. Cooper Group announced a definitive agreement to sell its Reverse servicing portfolio, operated under the Champion Mortgage brand, to Mortgage Assets Management, LLC. The transaction, subject to regulatory approvals, will reduce Mr. Cooper's servicing portfolio by approximately $16 billion in unpaid principal balance and decrease its assets by around $5 billion. The Company expects no significant impact on second-quarter results. This strategic move allows Mr. Cooper to focus on its core segments, improving profitability and capital ratios, and enabling accelerated growth.