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…
Kurt Johnson and Christine Paxton have been appointed to c-suite positions at Mr. Cooper, the company announced in a press release. Johnson has been named Chief Financial Officer, and Paxton named EVP and Chief Risk and Compliance Officer. Paxton was promoted to take Johnson’s place after his move to CFO. Johnson has been with the…
Mortgage and real estate companies are releasing their earnings reports for Q2 2022, providing information on the state of the housing market and where it might be headed. NPR’s David Gura noted on Morning Edition that earnings reports “can shape our understanding of what the economy may look like in the future.” “So while earnings…
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