Mr. Cooper Acquires Flagstar’s TPO Platform, Servicing Rights
In a stunning Q2 announcement, Mr. Cooper Group says it is acquiring Flagstar Bank’s TPO platform and $356 billion in mortgage servicing rights (MSRs), advances, and subservicing contracts. Mr. Cooper will pay $1.4 billion in cash in exchange, arranged from available cash and drawdowns of existing MSR lines. “We have the operational capacity to onboard…