Tag Archives: Mr. Cooper

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

By | | Uncategorized
Comments Off on Mr. Cooper closing in on $1T portfolio with Home Point deal

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

By | | Uncategorized
Comments Off on Mr. Cooper says it will use AI to service $1 trillion in mortgage loans

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

By | | Uncategorized
Comments Off on Mr. Cooper names second chief financial officer in less than a year

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

By | | Uncategorized
Comments Off on Mr. Cooper lays out path to $1T mortgage servicing rights portfolio

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

By | | Uncategorized
Comments Off on The biggest mortgage, lending and housing finance stories of 2022

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

By | | Uncategorized
Comments Off on Real estate in 2022: When the #@!$ finally hit the fan

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 →

Blend announces more layoffs as cumulative losses surpass $1B

By | | Uncategorized
Comments Off on Blend announces more layoffs as cumulative losses surpass $1B

The mortgage tech and title provider posted a $132.7 million net loss in the third quarter of 2022, with revenue falling 38 percent from a year ago to $55.3 million, according to an earnings call Thursday. Continue reading →

Mr. Cooper announces third round of layoffs affecting 800 workers

By | | Uncategorized
Comments Off on Mr. Cooper announces third round of layoffs affecting 800 workers

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 →

Hints of more layoffs loom at Mr. Cooper as profits wane in Q3

By | | Uncategorized
Comments Off on Hints of more layoffs loom at Mr. Cooper as profits wane in Q3

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 →

Sagent to power loan servicing for Bank of England Mortgage

By | | Uncategorized
Comments Off on Sagent to power loan servicing for Bank of England Mortgage

The Arkansas-based lender will use Sagent’s servicing solutions to collect monthly payments from borrowers and manage loans when homeowners get behind on their payments. Continue reading →