Investors pushed shares in the Dallas-based mortgage loan servicer to a new high on Friday as executives in a Q4 earnings call said they’ll keep investing in technology that boosts efficiency. Continue reading
Thanks to its Home Point Capital acquisition and other pending transactions, the loan servicing giant delivered upbeat Q2 results Wednesday and expects to hit a $1 trillion target by year’s end. Continue reading
After selling off originations businesses and laying off thousands, Home Point will sell $84 billion in mortgage servicing rights for $324 million in cash. Continue reading
The loan servicer spends “several hundred million dollars a year” on call center operations and expects $50 million in annual savings at the outset of a ‘multiyear’ artificial intelligence project. Continue reading
Mortgage veteran Kurt Johnson, who held executive roles at Indymac Bank and OneWest Bank before joining Mr. Cooper in 2015, succeeds Jaime Gow as CFO, it was announced this week. Continue reading
Rising mortgage rates have many lenders looking to sell servicing rights, creating an opportunity for a Dallas-based company that now collects payments on $870 billion in loans. Continue reading
Mr. Cooper, which had 8,200 employees at the end of last year, laid off 250 workers from its lending business during the first quarter and announced another 420 layoffs in June. Continue reading
While growing loan servicing business remains profitable, according to Q3 earnings, paper gains on servicing rights could evaporate if interest rates fall and borrowers refinance out of portfolio. Continue reading
Citing impact of rising rates on mortgage originations, Mr. Cooper laid off 250 workers during the first quarter, with more reductions in store. Continue reading
Google Cloud rolled out Lending DocAI in preview mode last fall with Roostify, a provider of digital mortgage solutions to lenders, on board as a strategic partner. Continue reading