Mr Cooper Group Inc Stock Price, News & Analysis

Mr. Cooper Group Inc. (NASDAQ: COOP) is set to discuss its Q1 2021 financial results on April 29, 2021, at 10:00 A.M. ET. The results will be available under the investors section of their website prior to the call. Participants can access the conference call by dialing 855-874-2685 or 720-634-2923 and using passcode 5199996. A replay will be available two hours post-call, accessible until May 14, 2021. Mr. Cooper is a leading home loan servicer, offering a range of services under its primary brands: Mr. Cooper® and Xome®.

Mr. Cooper Group (NASDAQ: COOP) announced Kurt Johnson's promotion to Executive Vice President and Chief Risk and Compliance Officer, expanding his role as Chief Credit Officer. With over 20 years in the mortgage industry, Johnson has been pivotal in establishing risk policies, notably advocating for mortgage relief during the pandemic through the CARES Act. He succeeds Steve Covington, who is retiring in June after nearly six years. Johnson is expected to leverage his expertise to enhance relationships with regulators and maintain the company’s strong risk management standards.

Blend has announced its definitive agreement to acquire Title365 from Mr. Cooper Group (NASDAQ: COOP) for approximately $422 million. This acquisition aims to integrate Title365's expertise in title insurance and settlement services with Blend's digital lending platform, enhancing the homebuying process for financial institutions and consumers. The deal reflects an enterprise value of $500 million with a 9.9% ownership retained by Mr. Cooper. The transaction is expected to close in Q2 2021, subject to regulatory approvals.

Mr. Cooper Group announced the sale of its title business, Title365, to Blend Labs for $500 million, comprising $450 million in cash and a 9.9% retained interest. The sale, expected to finalize in Q2 2021, will not contribute to earnings during that quarter. Mr. Cooper anticipates an after-tax gain of about $350 million and net cash proceeds of approximately $400 million post-transaction costs. The decision follows a strategic review to enhance focus on core servicing and origination business, reinforcing liquidity and tangible book value for shareholders.

Mr. Cooper Group reported Q4 net income of $191 million or $2.00 per diluted share. Excluding $6 million mark-to-market impacts and $85 million in debt breakage costs, pretax operating income was $329 million. The Servicing segment faced a $29 million pretax loss, while Originations earned $435 million in pretax income, funding 85,452 loans worth $24.5 billion. Xome recorded $10 million in pretax income. The company remains focused on customer service and technological capabilities as it enters 2021.

Mr. Cooper Group Inc. (NASDAQ: COOP) announced that CEO Jay Bray and CFO Chris Marshall will speak at the Credit Suisse Virtual Financial Services Forum on February 25, 2021, at 12:10 PM ET. The event will feature a live webcast, with materials accessible in the investor section of Mr. Cooper's website. A replay of the discussion will be available until March 10, 2021. Mr. Cooper is a leading provider of servicing, origination, and transaction-based services for single-family homes across the U.S.

Mr. Cooper Group Inc. (NASDAQ: COOP) is set to discuss its financial results for Q4 2020 on February 23, 2021, at 10:00 A.M. ET. The call will be accessible via dial-in and a live webcast available on the company's website. Interested parties can use the toll-free number 855-874-2685 to join. Post-call, a recording will be available until March 10, 2021. Mr. Cooper provides extensive services related to residential mortgages and is recognized as one of the largest home loan servicers in the U.S., operating under brands like Mr. Cooper and Xome.

Mr. Cooper Group has resolved legacy regulatory matters with the Consumer Financial Protection Bureau and several state regulators related to loan servicing issues from 2010 to 2015. The company has agreed to a resolution payment of $28.6 million, which includes penalties and remediation costs. The organization has implemented governance and operational improvements and focused on strengthening internal controls. According to CEO Jay Bray, the company has also made significant investments in technology and customer advocacy to enhance compliance and customer experience, leading to record lows in customer complaints.

Mr. Cooper Group Inc. (NASDAQ: COOP) announced a pricing of $650 million in 5.125% Senior Notes due 2030 by its subsidiary Nationstar Mortgage Holdings Inc. The offering is set to close around December 4, 2020, and aims to redeem $750 million of outstanding 9.125% Senior Notes due 2026, yielding an annual interest expense reduction of approximately $35 million. The Notes are being offered under exemptions from the registration requirements of the Securities Act and are intended for qualified institutional buyers.