Mr. Cooper to acquire Flagstar's servicing and TPO businesses for $1.4B in cash
Briefly

from www.housingwire.com1 month ago
Mr. Cooper Group acquires a third-party origination (TPO) platform and $356 billion in mortgage servicing rights (MSRs), advances and subservicing contracts from Flagstar Bank, enhancing its servicing portfolio.
www.housingwire.comhttps://www.housingwire.com/articles/mr-cooper-to-acquire-flagstars-servicing-and-tpo-businesses-for-1-4b-in-cash/
The deal, funded with $1.4 billion in cash, will add 1.3 million customers to Mr. Cooper, improving NYCB's capital level and is expected to close in Q4 2024.
www.housingwire.comhttps://www.housingwire.com/articles/mr-cooper-to-acquire-flagstars-servicing-and-tpo-businesses-for-1-4b-in-cash/
Mr. Cooper's strategic acquisition approach previously included acquiring Home Point Capital and Roosevelt Management Co., further expanding its servicing portfolio.
www.housingwire.comhttps://www.housingwire.com/articles/mr-cooper-to-acquire-flagstars-servicing-and-tpo-businesses-for-1-4b-in-cash/
NYCB, facing a confidence crisis due to its commercial real estate portfolio, received a $1 billion equity investment and sold $5 billion in warehouse mortgages to enhance its financial position.
www.housingwire.comhttps://www.housingwire.com/articles/mr-cooper-to-acquire-flagstars-servicing-and-tpo-businesses-for-1-4b-in-cash/
Read at www.housingwire.com
#acquisition #mortgage-servicing #financial-investment #capital-level #operational-capacity
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