Deal to acquire Flagstar’s mortgage servicing business later this year is projected to grow Mr. Cooper's customer base to nearly 7M and servicing portfolio to $1.59T
A majority of the 1,200 Flagstar employees being let go in $1.4B sale of the company's mortgage servicing business will be offered the opportunity to transfer to Dallas-based Mr. Cooper
Sridhar Sharma, credited with developing Mr. Cooper's patented AI, has been promoted to a new role, and 3 new technology leaders are coming on board from other companies
The deal paves the way for the first 'cloud-native' mortgage servicing platform