Mr. Cooper's share price soars with $1T servicing portfolio in sight
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
by Matt Carter Jul 26
Mr. Cooper closing in on $1T portfolio with Home Point deal
After selling off originations businesses and laying off thousands of employees, Home Point agrees to sell itself — and $84B in mortgage servicing rights — for $324M in cash
by Matt Carter May 11
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 $50M in annual savings at the outset of a 'multiyear' artificial intelligence project
by Matt Carter Apr 27
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
by Matt Carter Mar 7
Mr. Cooper lays out path to $1T mortgage servicing rights portfolio
Rising mortgage rates have many lenders looking to sell servicing rights, creating opportunity for Dallas-based company that now collects payments on $870B in loans
by Matt Carter Feb 10
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
by Matt Carter Nov 3
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
by Matt Carter Oct 28
Mr. Cooper lays off originators while mortgage servicing business booms
Sale of Xome subsidiary could be in the works as lenders boost foreclosure filings and auction platform's distressed property inventory swells to record levels
by Matt Carter May 3
Mr. Cooper sells platform rights to Sagent in boon for mortgage tech
The deal paves the way for the first 'cloud-native' mortgage servicing platform
by Matt Carter Feb 14
Google rolls out AI platform for mortgage lenders
Google Cloud introduced Lending DocAI in preview mode last fall with Roostify, a provider of digital mortgage solutions to lenders, on board as a strategic partner
by Matt Carter Apr 21
Stimulus package could create 'chaos' in mortgage industry
A coalition of real estate and banking trade groups is calling on Congress to help banks with liquidity as they allow homeowners to forbear their mortgage payments
by Patrick Kearns Apr 6
Businessmen exchanging money on the street
The acquisition will give the national home search engine a bevy of mortgage-industry products and services
Xome is 'worth a very big pile of money,' said Nationstar CEO in earnings call
Nationstar has had 'significant inbound inquiries' about selling the subsidiary, said Jay Bray
by Amber Taufen Feb 22
A man looking for a job
The previous chief risk officer will be shifting roles
by Amber Taufen Jan 11
Xome's earnings, sales slip slightly in Q3 2016
The end-to-end real estate transaction platform reported its quarterly income and expenses
by Amber Taufen Nov 2