Tag Archives: Mr. Cooper

Test triggering $2.3B in mortgage payments leads to $25M fine

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ACI admits no wrongdoing in settling CFPB’s first-ever enforcement action over the handling of consumer data in the processing of mortgage payments. Continue reading →

Planet Home Lending acquires $10B in mortgage servicing rights

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The bulk acquisition of servicing rights to 45,000 Ginnie Mae loans brings Planet’s servicing portfolio to $94 billion, with more purchases eyed for 2023. Continue reading →

Audits find fault with help provided to FHA borrowers during pandemic

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Loan servicer Mr. Cooper is ‘deeply disappointed’ that the HUD OIG audit focused on problems it says were mostly technical, rather than on borrower outcomes. Continue reading →

Regulators are tracking complaints about ‘deficient’ financial chatbots

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The Consumer Financial Protection Bureau warns of reputational and legal risks of relying on “deficient chatbots” as the primary mode of interacting with customers. Continue reading →

Mr. Cooper closing in on $1T portfolio with Home Point deal

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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 →

Mr. Cooper says it will use AI to service $1 trillion in mortgage loans

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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 →

Mr. Cooper names second chief financial officer in less than a year

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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 →

Mr. Cooper lays out path to $1T mortgage servicing rights portfolio

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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 →

The biggest mortgage, lending and housing finance stories of 2022

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The industry dodged a meltdown, but skyrocketing mortgage rates fueled a rush to “right size” and helped crown a new leader in mortgage lending. Continue reading →

Real estate in 2022: When the #@!$ finally hit the fan

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Soaring mortgage rates, slagging sales, thousands and thousands of layoffs: The past 12 months have offered a jarring reminder that what goes up must come down. Continue reading →