In July 2024, Mr. Cooper finalized a $1.4 billion acquisition of Flagstar's servicing and third-party originations (TPO) businesses. During this transition, Mr. Cooper has welcomed over 500 team members from Flagstar; however, they have decided to onboard fewer employees than initially planned. The spokesperson mentioned that after the integration, approximately 350 servicing team members and 175 TPO members will remain with Mr. Cooper, with A&D Mortgage poised to take on the third-party originations team. The company emphasizes transparency and support during this transition for affected employees.
Mr. Cooper struck a $1.4 billion deal to acquire Flagstar's servicing and TPO businesses, welcoming over 500 team members from Flagstar into its operations.
The integration process has revealed that Mr. Cooper will onboard approximately 350 servicing team members and 175 TPO members from Flagstar, less than initially anticipated.
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